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← Plato Trust

2025-01-31-accounts

SOUTH WARWICKSHIRE PLATO TRUST (A Company Limited by Guarantee)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[st] JANUARY 2025

Company No: 06669078 (England and Wales) Charity No: 1126506

SOUTH WARWICKSHIRE PLATO TRUST

Contents

Page
Legal and Administrative Information 3
Report of the Directors 4 - 8
Independent Examiner’s Report 9
Statement of the Financial Activities 10
Comparative Statement of the Financial Activities 11
Balance Sheet 12
Notes forming part of the Financial Statements 13 - 19

SOUTH WARWICKSHIRE PLATO TRUST

Page 3

Legal and administrative information

Registered Numbers: Charity 1126506 Company 06669078 (England and Wales) Directors and Trustees P Law (Chairman) G Yates M Markham Company Secretary P Liggins General Manager P Liggins Registered Office 172 Emscote Road Warwick Warwickshire CV34 5QN Independent Examiner Mark D Harwood FCA BFP FMAAT Michael Harwood & Co Chartered Accountants Greville House 10 Jury Street Warwick Warwickshire Bankers Lloyds Bank plc. The Parade Leamington Spa Warwickshire NatWest Bank 1 Market Place Nuneaton

The Trustees who are also the directors present their report along with the financial statements of the Charity for the year ended 31[st] January 2025. The financial statements have been prepared in accordance with the accounting policies set out on page 13 and comply with the Charitable Company’s Memorandum and Articles of Association and applicable company and charity law.

SOUTH WARWICKSHIRE PLATO TRUST

Page 4

Director’s Report for the year ended 31[st] January 2025

Chairman’s Statement

Welcome to the 2025 Annual General meeting of South Warwickshire Plato Trust

General Activities and Background

The economic background against which we have to operate continues to be entirely unsettled both at home and abroad. The war in Ukraine may or may not be stuttering to a close in what may prove to be an unsatisfactory manner. The expense of various nations supporting the Ukrainian military to be bolstered by the UK government significantly increasing defence spending. It seems that Europe may no longer be able to rely upon the support of the United States in its defence in the face of an increasingly aggressive Russia and China. The United States will also be facing difficulties in the Pacific Basin against a resurgent China, Korea and Russia.

The current government has made it very clear that the economic state of the finances of the UK are overstretched, even before the costs of Defence are increased to 2.5%-3%. We have already seen that the Foreign Aid budget has been severely curtailed. Further cuts to Government expenditure are being forecast which will most probably include the Social Services budget.

I refer to these particularly unsettling features as they may well have a direct affect on the finance, support and funding of SWPT in the future. SWPT is almost wholly reliant upon Housing Benefit for its income and PIP type benefits for its Licensees. Without these payments SWPT would have to operate on a wholly different scale. It may of course be that State Benefits continue but that those applying and those hoping to continue enjoying these benefits will face a much higher level of incapacity before they can make or continue a benefit claim.

It follows that some thought will need to be given to making SWPT use it resources more effectively. In the course of the year, thanks to Matt Markham’s efforts the excess payments to Octopus have finally been brought under control. Further efforts in financial control still need to be made for the Charity relief that we have been promised from the Warwick District Council Rates: also yet further work must be urgently carried out on payments to the County Council for works which may or may not have been commissioned.

After many years of outstanding service to SWPT Kerry Semperi is resigning as our book keeper. She has kept our accounts in a wholly exemplary fashion in difficult circumstances. Kerry will be greatly missed. A replacement is currently being sought.

I need to put on record that the accounts appear to show a healthy surplus. However all is not as positive as they look on first reading. In broad terms over £40,000 represents a legacy from the estate of Mr Beardsmore and the accounts have not yet been affected by the £42,500 increase in rentals demanded of us by Warwickshire County Council. These two items would otherwise have reduced our surplus to about £70,000. Next year considerable expenditure will also need to be incurred on the Schedule of Repair for 27 Grove Street and 94 Cubbington Lane. However on the positive side by the end of the year 2014 - 2025 we will have ceased paying for the mortgage on 172 Emscote Road releasing just over £20,000 pa back into our accounts.

Rental payments by SWPT to third parties forms a large proportion of our annual expenditure and had it not been for the properties that have been acquired over the past years by SWPT then the trust’s financial position would be at a breakeven point at the best. The annual rents that we pay plus the uncertainties of central and local government financial support in the

SOUTH WARWICKSHIRE PLATO TRUST

Page 5

Director’s Report for the year ended 31[st] January 2025 (Continued)

future lead me to think that it would be prudent for the long term survival of SWPT to continue to purchase freehold or long leasehold properties as funds permit in the future.

In the last year occupancy has fluctuated month on month from a high of 46 Licence Holders to a low of 40. We received 11 referrals, 4 of whom accepted offers of accommodation. 7 individuals left our accommodation during the year. Our accommodation levels have decreased over the past twelve months beginning with occupancy at 45 in February 2024, briefly rising to 46 before settling back to 45 until mid May. It then fluctuated between 45 and 42 through the summer and Autumn before reducing to 41 and eventually 40 in the Winter (up to January 31[st] 2025)

We continue to look to see how we can increase both the occupancy levels and the type of accommodation we offer. The total number of properties managed by South Warwickshire Plato Trust is now 25. The total number of beds that the Trust can reasonably offer from its current portfolio is 47 including an emergency bed for any unforeseen issue(s) that may arise within any of the Trust’s accommodation. However following the return of 51, Warwick Road, Wellesbourne CV35 9LX to the owners Orbit Housing on 31[st] July 2024 due to the difficulty in attracting prospective Licence Holders it has reduced our overall capacity from 50 bedspaces to 47. It was hoped that by returning this house, more suitable accommodation may be offered in the form of single units in locations such as Leamington Spa and/or Warwick but this has proven to be a false dawn. While all of our double and single occupancy flats (18 in total) are occupied and our group homes generally well occupied with 4 of the seven houses full (one is currently awaiting refurbishment or operational decision) the overwhelming view of both new applicants and the majority of existing occupants within Group Home accommodation would be for either double or single occupancy flats.

The usage of our premises is intensive, continual and demanding so redecoration and refurbishments are constantly being made:

Completed Work in 2024/25 included

Proposed work for 2025/2026 includes

Page 6

SOUTH WARWICKSHIRE PLATO TRUST

Director’s Report for the year ended 31[st] January 2025 (Continued)

In addition, there is the day to day maintenance of all our properties, the maintenance and where required replacement of household equipment and soft furnishings. The trust further has to ensure compliance with all statutory requirements relating to health and safety including gas safety certificates, fire safety certificates and electrical safety testing

Trustees

The Directors, who are also the Trustees of the charitable company, as named on page 3 have served throughout the period. Appointment of Trustees is governed by the Articles of Association of the charitable company. The Board of Trustees is authorised to appoint new Trustees to fill vacancies arising through resignation or death of an existing Director. Only members of the charitable company are eligible for appointment as Director. The induction of a new Trustee involves being made aware of a Trustee’s responsibilities, the governing document, the administrative procedures, the history and philosophical approach of the charity.

Objectives and Activities

South Warwickshire Plato Trust continues with its core purpose of providing accommodation for people with recovering mental health issues within South Warwickshire.

Structure, Governance and Management

The charity has an executive committee of 3 Trustees who meet six times a year and are responsible for the strategic direction and policy of the charity.

The Trustees have delegated day to day responsibility for administration of the charity with the General Manager.

South Warwickshire Plato Trust is a charitable company limited by guarantee and without a share capital. The governing documents are the Memorandum and Articles of Association. The company was incorporated on 11[th] August 2008 and commenced activities on 1[st] December 2008. These activities were formerly carried out by the unincorporated charity

SOUTH WARWICKSHIRE PLATO TRUST

Page 7

Director’s Report for the year ended 31[st] January 2025 (Continued)

South Warwickshire Plato Trust. The entire assets and undertaking of the trust were transferred to the company on 1[st] December 2008.

The Memorandum of Association authorises the Directors to make and hold investments using the general funds of the charitable company and as such six long leasehold properties were purchased over the years.

Achievements and Performance

The charitable company would not be able to provide such a wide service to our beneficiaries without the continued support of a number of willing staff who give their services voluntarily.

Income generated has been applied to the objectives of the charity.

Public Benefit

The Trustees have had due regard to the guidance published by The Charity Commissioners on public benefit, and consider that the objectives and activities of the charity fulfil their requirement.

Financial Review

The Directors consider that the performance of the charitable company this year has been satisfactory, with a surplus of £152,282 (2024: £31,988). The increase in funds ensures the stability of the charity and the upkeep of its houses to meet its objectives.

Funds available are sufficient to permit the charitable company to continue in operation in the medium term, given that the continued support of the local councils has already been promised for a further year. Should this support not continue in the longer term, further financial support would need to be sought to replace it.

Risk Review

The Directors actively review the major risk which the Charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the significant risks.

Reserves Policy

It is the policy of the charitable company to maintain unrestricted funds at a level which equate to approximately 9 months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs. Unrestricted funds are maintained at least at this level throughout the year.

Future Developments

The charitable company will continue to provide suitable homes for people with disability or special needs, and will continue to upgrade the accommodation provided as well as seeking to add to its property portfolio if opportunity arises.

Page 8

Director’s Report for the year ended 31[st] January 2025 (Continued)

SOUTH WARWICKSHIRE PLATO TRUST

Statement of Directors’ Responsibilities

Company Law requires the Directors to prepare financial statements for each financial period that gives a true and fair view of the state of affairs of the charitable company and the surplus or deficit for that period. In preparing these statements, the Directors are required to:

The Directors are responsible for maintaining proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The report of the directors has been prepared having taken advantage of the small companies’ exemption in the Companies Act 2006.

Approval

This report was approved by the Directors on 21st May 2025 and signed on their behalf.

………………………………………………. Peter Law

Director

SOUTH WARWICKSHIRE PLATO TRUST (CHARITY NUMBER: 1126506)

Page 9

Independent Examiner’s Report to the Trustees

I report to the charity trustees on my examination of the accounts of the company for the year ended 31st January 2025 which are set out on pages 10 to 19.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England & Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mark D Harwood FCA BFP FMAAT Michael Harwood & Co Chartered Accountants Greville House 10 Jury Street Warwick CV34 4EW

Date:

SOUTH WARWICKSHIRE PLATO TRUST

Page 10

Statement of financial activities for the year ended 31[st] January 2025 (Incorporating the Income and Expenditure Account)

Unrestricted Total Total
Notes Funds 2025 2024
£ £ £
Income from:
Rent and Rent Allowance 489,915 489,915 411,850
Telephone Income - - 6
Damages from resident - - 250
Tenant appliance contributions - - 13
Interest Receivable 3 153 153 121
Donations received 45,431 45,431 -
Insurance claim - - -
------------- ------------- -------------
Total Income £535,499 £535,499 £412,240
======= ======= =======
Expenditure on:
Charitable Activities 4/5 379,113 379,113 376,160
Other Costs 6 4,104 4,104 4,092
-------------- -------------- --------------
Total Expenditure £383,217 £383,217 £380,252
======= ======= =======
------------- ------------- -------------
Net movement in funds 152,282 152,282 31,988
Reconciliation of funds:
Total funds brought forward 1,210,108 1,210,108 1,178,120
--------------- --------------- ---------------
Total funds carried forward 14 £1,362,390 £1,362,390 £1,210,108
========= ========= =========

All income and expenditure derive from continuing activities.

The notes on pages 13 to 19 form part of these financial statements

SOUTH WARWICKSHIRE PLATO TRUST

Page 11

Statement of financial activities for the year ended 31[st] January 2024 (Incorporating the Income and Expenditure Account)

Unrestricted Total Total
Notes Funds 2024 2023
£ £ £
Income from:
Rent and Rent Allowance 411,850 411,850 364,124
Telephone Income 6 6 8
Council Tax re-imbursement - - -
Interest Receivable 3 121 121 12
Donations received - - 1,000
Damages from resident 250 250 160
Compensation - - -
Tenant appliance contributions 13 13 105
Insurance claim - - 5,120
------------- ------------- -------------
Total Income £412,240 £412,240 £370,529
======= ======= =======
Expenditure on:
Charitable Activities 4/5 376,160 376,160 308,858
Other Costs 6 4,092 4,092 4,002
-------------- -------------- --------------
Total Expenditure £380,252 £380,252 £312,860
======= ======= =======
------------- ------------- -------------
Net movement in funds 31,988 31,988 57,669
Reconciliation of funds:
Total funds brought forward 1,178,120 1,178,120 1,120,451
--------------- --------------- ---------------
Total funds carried forward 14 £1,210,108 £1,210,108 £1,178,120
========= ========= =========

All income and expenditure derive from continuing activities.

The notes on pages 13 to 19 form part of these financial statements

SOUTH WARWICKSHIRE PLATO TRUST

Page 12

Balance Sheet as at 31[st] January 2025 Company No: 06669078 (England and Wales)

Note 2025 2024
£ £ £ £
Fixed Assets
Tangible assets 7 1,163,913 1,163,913
Current Assets
Debtors: amount falling due within
one year 8 33,253 34,947
Cash at bank and in hand 9 209,304 92,261
------------- -------------
242,557 127,208
Creditors: amount falling due within
one year 10 (26,303) (44,520)
-------------- --------------
Net current assets 216,254 82,688
--------------- --------------
Total assets less current liabilities 1,380,167 1,246,601
Creditors: amount falling due after 11 (17,777) (36,493)
more than one year
--------------- ---------------
Net Assets £1,362,390 £1,210,108
========= =========
Funds:
Unrestricted Funds 14 1,362,390 1,210,108
--------------- ---------------
Total charity funds £1,362,390 £1,210,108
========= =========

For the year ending 31[st] January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

Approved by the Directors on 21st May 2025 and signed on their behalf.

……………………………… Peter Law

Director / Chairman

The notes on pages 13 to 19 form part of these financial statements

SOUTH WARWICKSHIRE PLATO TRUST

Page 13

Notes to the Accounts for the year ended 31[st] January 2025

1. Basis of Preparation

South Warwickshire Plato Trust is a company limited by guarantee in England & Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 3 and the nature of the charity’s operations and principal activities are given on pages 5 to 7.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

The accounts do not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.

2. Accounting Policies

These are included in the Statement of Financial Activities (SOFA) when:

2.2 Unrestricted funds Funds from incoming resources, investment rental income and allowances are available for the objectives of the charity without further specific purpose and are available as general funds.

The Trust also bought a freehold property of 172 Emscote Road Warwick in December 2021.

As they are investment properties, no depreciation is provided on these property costs and in the opinion of the directors they have been included at “a fair valuation” given their rental income and current use.

No professional property valuations have been undertaken as such costs are not considered necessary as the properties are regularly maintained at a level suitable for their use.

The purchase costs are written off to revenue when incurred.

SOUTH WARWICKSHIRE PLATO TRUST

Page 14

Notes to the Accounts for the year ended 31[st] January 2025

2.5 Liability Recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to pay our resources.

2.6 Support Costs

All costs are allocated to charitable activities on a basis consistent with use of resources.

2.7 Pension Costs

The Trust makes an employer’s contribution towards the employees’ pension scheme.

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the expenditure which remain in the control of the Charity.

2.9 Taxation

The Charity is exempt from Corporation Tax on its charitable activities and VAT where applicable is included in the Charity’s expenditure.

2.10 Going Concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

2.11 Charity Status

The Charity is registered with the Charity Commission for England & Wales, Registered No: 1126506 and is regulated by the Trust Deed dated 24[th] November 1981.

2.12 Limited by Guarantee

The company was incorporated under the Companies Acts 1985 to 2006 and not having a share capital is limited by guarantee. The guarantee of each member is limited to a maximum of £1 and is for a maximum period of one year after ceasing to be a member.

2025 2024
3. INTEREST RECEIVABLE £ £
Bank interest £153 £121
==== ====

SOUTH WARWICKSHIRE PLATO TRUST

Page 15

Notes to the Accounts for the year ended 31[st] January 2025

2025
Unrestricted Total Total
Funds 2025 2024
4. DIRECT CHARITABLE EXPENDITURE £ £ £
Staff salaries 82,020 82,020 76,754
Pension 1,968 1,968 1,968
Rent 101,733 101,733 85,529
Rates 11,979 11,979 10,148
Insurance 11,247 11,247 10,869
Electricity 28,548 28,548 23,913
Gas 19,349 19,349 22,958
TV licences 3,690 3,690 3,551
Heating and appliance repairs 2,297 2,297 5,240
Decorating 3,580 3,580 1,942
Building repairs 23,628 23,628 70,391
Telephone 71 71 136
Cleaning 24,126 24,126 24,858
Gardening 2,525 2,525 2,541
Renewal of household equipment 8,167 8,167 5,829
Council tax 26,712 26,712 3,204
Travel and expenses 4,083 4,083 4,486
Legal and professional 1,000 1,000 2,400
Loan interest 1,686 1,686 2,342
Management charge 7,580 7,580 7,649
Support costs (Note 5) 13,124 13,124 9,452
-------------- -------------- --------------
£379,113 £379,113 £376,160
======== ======== ========
2025
Unrestricted Total Total
Funds 2025 2024
5. SUPPORT COSTS £ £ £
Bookkeeping services 7,898 7,898 6,325
Office equipment repairs and servicing 92 92 48
Stationery and postage 688 688 1,071
Bank charges 1,029 1,029 1,066
Website maintenance and computer support 802 802 982
Office rent/management charge - - -
Office council tax 559 559 (2,010)
Office telephone 1,551 1,551 1,430
Sundry costs 505 505 540
------------ ------------ ------------
£13,124 £13,124 £9,452
======= ======= =======

SOUTH WARWICKSHIRE PLATO TRUST

Page 16

Notes to the Accounts for the year ended 31[st] January 2025

6. OTHER COSTS 2025 2024
£ £
Independent Examiner’s fee 2,270 2,270
Accountancy fees 1,834 1,822
----------- -----------
£4,104 £4,092
====== ======
7. TANGIBLE ASSETS – INVESTMENT PROPERTIES
2025 2025 2025
Freehold Leasehold Total
£ £ £
Cost at 1stFebruary 2024 480,163 683,750 1,163,913
Improvements to freehold property - - -
------------- --------------- ---------------
Cost at 31stJanuary 2025 480,163 683,750 1,163,913
======== ========= =========
The valuations of the above properties have been considered by the Trustees at the year end and
in their opinion, they still reflect a fair market value given their rental income and current use. They
do not consider the cost of a professional valuation would form a useful purpose at this time, as
there is no intention to sell the properties.
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024
£ £
Rent receivable 529 87
Prepayments and accrued income 15,377 11,021
Other debtors 17,347 23,839
------------ ------------
£33,253 £34,947
======= =======
9. CASH AT BANK AND IN HAND 2025
Unrestricted Total Total
Funds 2025 2024
£ £ £
Lloyds Current account 150,510 150,510 79,051
NatWest Direct Reserve account 45,576 45,576 141
Lloyds Business account 12,918 12,918 12,769
Cash in hand 300 300 300
------------- ------------- -------------
£209,304 £209,304 £92,261
======= ======= =======

SOUTH WARWICKSHIRE PLATO TRUST

Page 17

Notes to the Accounts for the year ended 31[st] January 2025

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024
£ £
Trade creditors 1,731 4,444
Bank loan 18,716 18,033
Accrued expenses 3,895 18,287
Deferred income 1,961 3,756
------------- -------------
£26,303 £44,520
======= =======
11. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR 2025 2024
£ £
Bank loans £17,777 £36,493
======= =======
Analysis of loans
Not wholly repayable within five years by instalments:
Bank loans 36,493 54,526
------------ ------------
36,493 54,526
Included within current liabilities (18,716) (18,033)
------------- -------------
£17,777 £36,493
======== ========
Loan maturity analysis
Debt due in one year or less 18,716 18,033
In more than one year but not more than two years 17,777 18,716
In more than two years but not more than five years - 17,777
-------------- --------------
£36,493 £54,526
======== ========

Creditors falling due in more than one year include secured creditors of £17,777 (2024: £36,493). This loan is repayable in 2026 at a fixed rate of 3.72%.

12. DEFERRED INCOME 2025 2024
£ £
At 1stFebruary 2024 3,756 -
Additions during the year 1,961 3,756
Amounts released to income 3,756 -
----------- -----------
At 31stJanuary 2025 £1,961 £3,756
====== ======

Income has been deferred for Housing Benefit received at the year end relating to a period after the year end.

SOUTH WARWICKSHIRE PLATO TRUST

Page 18

Notes to the Accounts for the year ended 31[st] January 2025

13. STAFF SALARIES 2025
2024
£
£
Salaries 78,674
74,046
Social security 3,346
2,708
-----------
-----------
£82,020
£76,754
======
======
Pension £1,968
£1,968
======
======
The number of full and part-time employees was as follows:
Administration 2
2
==
==
No employee received emoluments over £60,000 in the year
14. FUNDS
Unrestricted
Funds
£
Balance at 1stFebruary 2024 1,210,108
Income in year 535,499
Expenditure in year (383,217)
----------------
Balance at 31stJanuary 2025 £1,362,390
=========
Unrestricted
Funds
£
Balance at 1stFebruary 2023 1,178,120
Income in year 412,240
Expenditure in year (380,252)
----------------
Balance at 31stJanuary 2024 £1,210,108
=========

SOUTH WARWICKSHIRE PLATO TRUST

Page 19

Notes to the Accounts for the year ended 31[st] January 2025

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Funds
2025
£
Fixed assets 1,163,913
Cash and current assets 242,557
Current liabilities (26,303)
Long term liability (17,777)
--------------
£1,362,390
=========
Unrestricted
Funds
2024
£
Fixed assets 1,163,913
Cash and current assets 127,208
Current liabilities (44,520)
Long term liability (36,493)
--------------
£1,210,108
=========

16. TRUSTEES’ REMUNERATION AND EXPENSES

None of the Trustees were paid any remuneration during the year (2024: £NIL).

There were no reimbursements of expenses to the Trustees during the year (2024: £NIL).

17. RELATED PARTY TRANSACTIONS

There were no related party transactions during the year (2024: £NIL).

18. CONTINGENT LIABILITY

An ex-tenant of the trust has incorrectly claimed for housing benefit which has been paid by the benefits agency. The amount overpaid amounts to approximately £15,000, which if not repaid by the tenant the benefit agency may seek reimbursement from the trust. This tenant has now left the trust on 12[th] March 2018.