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2025-03-31-accounts

Docusign Envelope ID: B0893BB5-1F01-4381-8240-AE890BBED36E

Company Registration No. 07463849 (England and Wales) Charity No. 1141823

Imagine Act and Succeed (A registered charity and company limited by guarantee)

Annual Report of the Trustees and Financial Statements for the Year Ended 31 March 2025

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IMAGINE ACT AND SUCCEED

CONTENTS
Reference and administrative information 1
Trustees’ report 2
Independent auditor’s report 10
Statement of financial activitities 13
Balance sheet 14
Cash flow statement 15
Notes to the financial statements 16

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IMAGINE ACT AND SUCCEED

REFERENCE AND ADMINISTRATIVE INFORMATION

Key Management Personnel (at 31 March 2025):

Trustees Mr P Cassidy Mr S Howard Mrs B A Latham Mr M Routledge Mr P A Rowlinson Mrs K Waring (resigned 1 April 2025) Company Secretary Mr P Cassidy Chief Executive Officer Mrs R Gorman Strategic Head of Operations Ms J Pilkington Strategic Head of Operations Ms M Thomas Head of Business Ms L Nuttall Lead Strategic Finance Mr S Jones Company number 07463849 Registered charity number 1141823 Registered office 110 Chapel Street Leigh Lancashire WN7 2DB Tel: 01942 807009 www.imagineactandsucceed.co.uk Auditor MHA Richard House 9 Winckley Square Preston PR1 3HP

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IMAGINE ACT AND SUCCEED

TRUSTEES’ REPORT

The trustees, who are also directors of the charity for the purposes of the Companies Act, submit their annual report and the audited financial statements for the year ending 31 March 2025, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 (FRS 102) published in October 2019.

The charity is a charitable company limited by guarantee and not having a share capital and is exempt from the requirement to use the word 'limited' as part of its name. It is governed by a memorandum and articles of association and was incorporated on 8 December 2010 to take over, from 1 July 2011, the activities of IAS (Services) Limited, an incorporated company which was originally founded in 1988.

Structure, governance and management

Imagine Act and Succeed became a charity in July 2011 when the owners of IAS Services gifted their shares, assets and cash reserves to the charity so the long-term support of people and welfare of staff could be protected and developed.

A new Board was developed from the previous shareholders and is still growing as new members are identified and inducted into the values and work of the Board. We had 5 Trustees at April 2025, and it is our intention to attract additional Trustees in the coming months.

The Board meets bi-monthly or more often if urgent business arises. The Board has a planned annual agenda, and this is to ensure all the Charity’s activities are considered and to make sure there is time for thorough governance, but also for good work to be appreciated and celebrated.

Sub-committees are established to complete work in particular areas, and one has been established to oversee the charity’s Investment Strategy. The Board will delegate the sub-committee’s work and final authority remains with it. A new sub-committee has been set up to look at new developments. The sub-committees will be a mix of Board members and operational staff and these partnerships will be able to draw on the necessary skills, creativity and knowledge.

Board members have jointly developed a Trustee Handbook, which clearly identifies their roles and responsibilities in the governance of the charity and the means by which this will be achieved. The Handbook drew on information from the Charity Commission and was based around its suggested good practice. Induction for new trainees reinforces the handbook and is individually tailored to each Board member’s requirements.

The Board of Trustees had one additional half day meeting to look at the strategic direction of the Charity in light of the challenging environment it operates in.

Board members are also committed to spending time with people the charity supports, their families and support staff, so they will develop the relationships to have effective communication and insight into the work of the charity. They will be mindful not to undermine the work of the operational teams.

Imagine Act and Succeed has an experienced and creative senior management team led by the Chief Executive appointed by the Board. Each geographical area has a dedicated management team responsible for the development of services which are person centred and innovative. The local teams have access to support from H.R, Accountancy, Business, Payroll and other specialist functions so they can concentrate on their main task of leading staff teams to provide the best possible support to individuals. Each team reports regularly to the Board on their work and how they are meeting the agreed objectives in the charity’s annual business plan.

The trustees continually examine the major strategic business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

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IMAGINE ACT AND SUCCEED

TRUSTEES’ REPORT

Key management personnel remuneration

The combined salaries of the Key Management Personnel, including employer National Insurance and pension contributions, are £289,825. These salaries have been reviewed and agreed by the trustees, and are comparable with salaries paid to similar staff in medium size charities in the social care sector. The salaries and benefits are considerably lower than for counterparts in the statutory sector, but the compensation is working in an organisation, where you can see the difference your contribution makes. The sense of identity with the organisation, and the sense of responsibility for its success is also very different.

Public Benefit Statement

Our memorandum of association describes our public benefit as being to meet the needs of people who have a learning disability and to support people to reach their full potential. Without prejudice to the generality of the forgoing to support people with a disability to have choice and control over their lives, be valued and contributing members of their communities and be part of a wide network of friends, neighbours and family. The support will extend to their families, friends and local community with the aim of creating a society that is welcoming and inclusive of everyone.

Our statement of purpose, written by the people we support, their families, staff, commissioners and other allies in 2004 explains our focus as being:

Objectives and activities

Imagine Act and Succeed’s purpose is to provide support services that empower adults with a learning disability to have choice and control in their lives and enable them to have fulfilling lives. We work closely with the people we support, their families, friends and others to plan and deliver services in line with person centred approaches. Our Statement of Purpose encompasses our central philosophy and against which we measure everything we do.

Our main work has continued to focus on supporting people in their own homes (supported tenancies and shared ownership) in Wigan, Oldham and Trafford. We also have Community Support Teams in Wigan, Oldham and Salford that provide one to one support to people living at home with their families, or to people requiring lower levels of support in their own tenancies.

The Chief Executive and Senior Management team continue to manage and develop the organisation operationally and are supported by the Trustee Board. Major decisions or proposals affecting the charity are brought to the Board for discussion and decision.

The organisation became a charity in July 2011 and the Board continues to grow in membership. All appointed Trustees go through an induction process with existing Trustees, and key members of the operational staff. As part of the induction process new trustees are also given opportunities to meet some of the people and families we support and enabled to understand the organisation and how it functions and performs.

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IMAGINE ACT AND SUCCEED

TRUSTEES’ REPORT

Strategic report

Achievements and performance

We remained vigilant to the challenges of Covid-19, with staff testing if symptomatic. We had continued supply of lateral flow tests and PPE.

We retained Peninsula, a HR and Employment law consultancy to support us during the Covid-19 period, and we have continued our positive working relationship with advice and training for our leadership team.

We have been able to keep staff up to date with important information and changes to guidance using our text messaging service.

We also continue to face increased calls for data from external agencies such as CQC, Local authorities and Health Authorities and the provision of information to them.

We continue to work with awareness of staffs’ mental health being affected by the pandemic, cost of living crisis and other issues, and we signpost to our Employee Assistance Programme that includes access to counselling. A number of our leaders have attended Mental Health training to support staff.

It was very important to us to thank our staff for their hard work and commitment and we were able to reward staff with Christmas vouchers and an uplift to the real living wage across the board.

We have always had strong relationships with our Health colleagues, however because Health took a lead in this area our relationships have become much stronger, and we are able to go to them directly with any queries and for advice. An example if this is our relationship with the Hospice in Wigan. We attend their training, and we can seek their advice at any time. We have also been recipients of the Wigan and Leigh Hospice Palliative Care and End of life awards, and were successful again this year.

We are very proud of the organisation and our fantastic staff that have continued working tirelessly, always putting the people they support first. It is an incredible achievement and has been another challenging year yet again on many levels.

New Work and developments

We are offered new work continuously across the board, and have started some new pieces of work. A number of new living models have been developed. They are apartment style, with people having their own front door. York Street has 5 apartments, purpose built for people who have some challenges. It has communal space and a sensory room.

Tyldesley Road has 6 apartments.

We reopened Rochdale Road in Oldham, and this has 3 apartments, this is now fully occupied.

We’re planning new developments with housing providers and local authorities. Many people have moved into existing tenancies in all networks. There has been an increase of 3.6% income from supported tenancies.

Partnerships

We are established members of a number of different umbrella groups. These are VODG (Voluntary organisation Disability group), Learning Disability England and Care England, and Social Care Futures. We have built a relationship with Community Living magazine as a sponsor.

This enables the sector to come together, share best practice and challenges and be a stronger voice for people with support needs. One outcome of the pandemic is strengthening of relationships with health authorities.

We have built relationships with DWP, and local colleges as being part of the SWAP and Believe in your Future programmes.

Our relationships within the community have continued as we try to contribute to community resilience, for example providing sponsorship to local grassroots youth sports teams and supporting the local food bank.

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IMAGINE ACT AND SUCCEED

TRUSTEES’ REPORT

Achievements and performance (continued)

CQC Inspections

All networks have overall CQC ratings of Good and networks are completing their PIR.

Safeguarding

As an organisation, we take the safeguarding of people very seriously. We have training for staff delivered by the local authorities and ourselves, this is a standard agenda item on team meetings and in private job consultations. All staff are aware of the process of recording anything that makes them uncomfortable through a whistleblowing policy. In many situations, staff are suspended prior to investigation as a way of keeping everyone safe. All instances are investigated thoroughly and this can and does lead to disciplinary hearings. All safeguarding is reported to the local authority through their tier system. Following any safeguarding we have an internal “lessons learnt” meeting.

We are now represented on our Local Authorities Safeguarding board.

An annual audit is carried out for safeguarding incidents, medication incidents, accidents and fire and electricity safety, and these are shared with the senior managers and the Board of Trustees.

Stepping Out

Stepping Out is well established and has developed extensively since its creation to the point of offering a wide range of possibilities to many people. It has a real focus on health; well-being and employment with a gardening project and two shops inside Extra Care Schemes offering purposeful employment experience for people we support. This also offers the community a service for those who need support with shopping and gardening. The service that Stepping Out offer to people has led to relationships and connections that would not have developed ordinarily. The social evening has become extremely popular with people from other providers also attending. There has also been a very successful group holiday for 12 people. Over 50 people now receive support within Stepping Out, both internal and external to IAS. Stepping Out continues to flourish with new developments and opportunities.

Recruitment issues

The Recruitment Coordinator continues to work hard to recruit new staff and explores new creative ways to attract staff. She is now also involved in Believe in your future and SWAP.

Believe in your future is a partnership between local authority, schools, colleges and providers and we are ambassadors of that programme, the aim is to attend each college and every school in the areas for years 9 and 11 and talk about careers in social care. Another programme that we are involved in is SWAP. This is for adults of working age, again a partnership with DWP, college, LA and providers. The students attend a 3 week intensive programme at college and then come to providers for a day’s placement with the offer of an interview at the end. To date, it has been very successful with 42 people having been through the courses and 36 employed. This is something we stay committed to.

Now we are able to pay the real living wage we are seeing a positive shift in the number of new staff coming through.

We are still involved in the Local Authority “Care to Join us” with Universities, colleges and schools to send a positive message about working in social care.

We continue to explore creative options to enhance our offer to staff e.g. offering free driving lessons to new applicants.

We have placed a focus on Leadership awareness, to encourage and support the workforce into becoming part in the leadership team in the future.

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IMAGINE ACT AND SUCCEED

TRUSTEES’ REPORT

Health

One of main focusses this year has been on the health of people we support and health inequalities. We have had a working group made up of a cross section of the organisation and created a new document that captures everything about a person’s health, appointments and screening. We have also sourced a number of easy read / videos about screening information for the people we support, their relatives and our staff to understand. This was introduced at the beginning of January 2025.

Disabled employees

The charity gives full consideration to applications for employment from disabled persons where a disabled person can adequately fulfil the requirements of the job. Where existing employees become disabled, it is the charity’s policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training and career development and promotion disabled employees wherever appropriate. We have actively used Access to work which staff have felt is beneficial. We employ two people that receive support.

Employee engagement

We have always acknowledged that good ideas come from everywhere and that staff perform at their maximum capacity when they see that their contribution matters. Involvement in the development of the service creates a sense of ownership and responsibility for what we do, and how we do it. Each staff member will be regularly involved in job consultation, attend team meetings, and have an ongoing appraisal – all opportunities to put ideas forward and be listened to. Service development Forums and occasional task groups are further ways in which staff can be involved and contribute. Each Senior Manager reports annually to the Board on their work and how they are meeting the agreed objectives. We have sent staff anonymous questionnaires for their feedback. The feedback has been very positive.

Involvement of People we support

As an organisation, we are person centred and people are at the heart of what we do. There is a belief in the organisation that people we support and their families and friends need to have control over the support. We gather this information through one-page profiles, reviews, My Day learning logs, Peoples Forums (discussing topics and issues about their support and what’s going on in the wider world) and Relatives forums, and Tenants meetings.

We continue to use technology to ensure that people we support stayed connected to their family and friends, and the organisation.

We have also sent feedback questionnaires to family members of the people we support, and again had very positive feedback.

Wellbeing

We have been well aware of the Cost of Living crisis and its impact on our workforce, and people we support. We formed a working group to look at how we can support staff and people during this time.

An initiative that has come from this was creation of a regular bulletin containing information and advice for saving money, or for discounts, or energy saving information. This goes out to all staff via our text messaging service.

We have introduced a Menopause policy, to ensure the necessary support is known and offered to employees when needed.

We carry out Health assessments for Night Workers to ensure that staff are not made ill as a consequence of working night shifts.

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IMAGINE ACT AND SUCCEED

TRUSTEES’ REPORT

Financial review & reserves policy

We continue to pay staff the real living wage and support recruitment. This has been aided with some Local Authorities reflecting in their 2024/25 rate uplifts the need for transition to the RLW for support.

For 2024/25 we budgeted for a surplus of £98k, excluding gains/losses and interest from investments. We finished the year with a surplus of £26,514 excluding investment gains/losses. This was mostly impacted by slightly higher agency costs and Death in Service premium increase. After losses on investments, the organisation ended the financial year with an overall surplus of £10,665. We continue to astutely manage budgets whilst negotiating hourly rates with the local authorities.

The charity began its life with assets of just over £2 million, which were a combination of cash reserves and the fixed assets of our offices. Fifteen years on, our combined net assets are over £4.3 million.

Total reserves at 31 March 2025 are £4,322,922, which are all unrestricted funds. After the deduction of tangible fixed assets, total free reserves are £3,876,201. The Charities Commission recommends having reserves equivalent to six months operating costs to ensure stability and security, and our reserves policy is to ensure we have reserves of six months or over. We estimate that we are now at this figure.

Investments policy

The Board established an Investment Strategy sub-committee, which meets twice a year to review existing investments and to consider further options when the cash balance is high. The sub-committee is made up of three trustees and the CEO. These meetings were held remotely during this financial year.

At 31 March 2025 just under £4.3m million is invested in a mixture of a Managed Investment Portfolio, one-year fixed rate deposit accounts, and interest-bearing bank accounts. We also have fixed assets with a carrying value in the accounts of just over £0.44 million in the shape of 3 fully paid up offices. The majority of the charity’s accessible cash reserve is in a savings account accruing interest.

Plans for future periods

Priorities for the coming 12-18 months include:

In some areas we have been working with the local authority to create area based models, whereby people have their own front door but are part of a supportive community close by to other supported tenants. We believe this is a safer model; it results in less isolation, provides better outcomes and is cost effective.

Over a number of years, we have developed a culture in IAS where we are focussed on getting the support right for people. This includes not under or over supporting people and the use of technology. Other providers find this particularly difficult in positive behaviour support situations. We have learned that getting the environment, support and technology right for people reduces an over reliance on paid support. This is a marketable product that is invaluable to people, families, providers and health and social care. Electronic care planning was tested out this year in an extra care scheme using a product called Nourish. Unfortunately intermittent access to the internet proved difficult and we are currently exploring other models.

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IMAGINE ACT AND SUCCEED

TRUSTEES’ REPORT

Plans for future periods (continued)

We are currently looking at the best package of e care planning software to suit our needs

Fundraising

We have considered the requirements of the Charities (Protection and Social Investment) Act 2016 regarding disclosures concerning fundraising and fundraising standards and confirm that these do not apply to the charity.

Statement of trustees' responsibilities

The trustees (who are also directors of Imagine Act and Succeed for the purposes of company law) are responsible for preparing the Trustees’ Report (including the Strategic Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware, there is no relevant audit information of which the charitable company’s auditor is unaware, and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

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IMAGINE ACT AND SUCCEED

TRUSTEES’ REPORT

Auditor

The auditor, MHA, previously traded through the legal entity MacIntyre Hudson LLP. In response to regulatory changes, MacIntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP.

MHA will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

December 10, 2025 This report, which incorporates the Strategic Report, was approved by the board of Trustees on ............... and signed on its behalf

………………………………………..

Mr P A Rowlinson – Trustee

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS

OF

IMAGINE ACT AND SUCCEED

Opinion

We have audited the financial statements of Imagine Act and Succeed (the ‘charitable company’) for the year ended 31 March 2025, which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS

OF

IMAGINE ACT AND SUCCEED

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors’ report.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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IMAGINE ACT AND SUCCEED

Auditor’s responsibilities for the audit of the financial statements (continued)

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Nicola Mason MA(Cantab) ACA DChA

Senior Statutory Auditor For and on behalf of MHA, Statutory Auditor Preston, United Kingdom

December 11, 2025

……………………

MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542).

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IMAGINE ACT AND SUCCEED

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from
Charitable activities:
Supported tenancies
Community support team
Stepping Out
Investments:
Interest receivable
Dividends receivable
Total income
Expenditure on
Raising funds
2
Charitable activities
3
Total expenditure
Net income/(expenditure) for the year
before other recognised gains/(losses)
Investment gains/(losses)
10
Net income/(expenditure) for the year
Transfer between funds
Net movement in funds
Reconciliation of funds:
Fund balances brought forward
Fund balances carried forward		 Unrestricted
funds
£
11,346,547
610,758
18,547
70,735
28,772
12,075,359
17,273
12,031,572
12,048,845
26,514
(15,849)
10,665
-
10,665
4,312,257
4,322,922		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
2025
£
11,346,547
610,758
18,547
70,735
28,772
12,075,359
17,273
12,031,572
12,048,845
26,514
(15,849)
10,665
-
10,665
4,312,257
4,322,922		 Total funds
2024
£
10,951,854
613,577
27,539
66,939
30,089
11,689,998
16,467
11,664,408
11,680,875
9,123
64,211
73,334
-
73,334
4,238,923
4,312,257

All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above. The result for the year for Companies Act purposes comprises the net incoming resources for the year net of unrealised profits and losses on investments and was a surplus of £26,514 (2024: surplus of £9,123),

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IMAGINE ACT AND SUCCEED

BALANCE SHEET

AS AT 31 MARCH 2025

Note
Fixed assets
Tangible fixed assets
9
Investments
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors:Amounts falling
due within one year
12
Net current assets
Net assets
Funds
Designated funds
Unrestricted funds
Restricted funds
Total funds
14		 Designated
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 Unrestricted
funds
£
446,721
1,732,043
2,178,764
581,748
2,541,685
3,123,433
(979,275)
2,144,158
4,322,922
-
4,322,922
-
4,322,922		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
2025
£
446,721
1,732,043
2,178,764
581,748
2,541,685
3,123,433
(979,275)
2,144,158
4,322,922
-
4,322,922
-
4,322,922		 Total funds
2024
£
446,061
1,736,393
2,182,454
498,112
2,644,787
3,142,899
(1,013,096)
2,129,803
4,312,257
-
4,312,257
-
4,312,257

December 10, 2025

These financial statements were approved by the trustees on …………………….. and signed on their behalf by:

…………………………………………..

Mr P A Rowlinson – Trustee

Company Registration Number: 07463849

Page 14

Docusign Envelope ID: B0893BB5-1F01-4381-8240-AE890BBED36E

IMAGINE ACT AND SUCCEED

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

Net income/(expenditure) for the year
Adjustments for:
Investment income
(Gain) / loss on investments
Depreciation
(Profit) / loss on disposal of tangible fixed assets
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Net cash (used in) / provided by operating activities
Cash flows from investing activities:
Investment income
Purchase of tangible fixed assets
Proceeds from the sale of tangible fixed assets
Purchase of investments
Proceeds from sale of investments
Movement in cash held as investments
Net cash (used in) / provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Analysis of cash and cash equivalents
Cash in hand
Cash at bank		 2025
£
10,665
(99,507)
15,849
20,513
-
(83,636)
(33,821)
(169,937)
99,507
(21,173)
-
(168,674)
253,048
(95,873)
66,835
(103,102)
2,644,787
2,541,685
3,790
2,537,895
2,541,685		 2024
£
73,334
(97,028)
(64,211)
20,735
15,280
(100,188)
54,546
(97,532)
97,028
(8,337)
-
(395,240)
366,280
15,338
75,069
(22,463)
2,667,250
2,644,787
1,392
2,643,395
2,644,787

Page 15

Docusign Envelope ID: B0893BB5-1F01-4381-8240-AE890BBED36E

IMAGINE ACT AND SUCCEED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Accounting policies

1 Basis of preparation

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 (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Imagine Act and Succeed meets the definition of a public benefit entity under FRS 102.

The charity has availed itself of Paragraph 4(1) of Schedule 1 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 and adapted the Companies Act formats to reflect the special nature of the charity’s activities.

Going concern

The trustees are required to assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation of the accounts. At the date of approving these accounts, the trustees have a reasonable expectation that the charity has sufficient cash resources to enable it to meet its liabilities as they fall due for at least 12 months from the date of approval. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Company status

The company is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

Fund accounting

General funds are unrestricted funds, which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are those which have been provided for a specific purpose.

Designated funds are set aside by the trustees out of unrestricted general funds for specific purposes or projects.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income received in advance of an event or provision of other specific provision of other specified service it is deferred until the criteria for income recognition are met.

Page 16

Docusign Envelope ID: B0893BB5-1F01-4381-8240-AE890BBED36E

IMAGINE ACT AND SUCCEED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies (continued)

Income (continued)

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources. Detailed analyses of the expenditure, including irrecoverable VAT where applicable, are provided in the notes to the accounts.

Tangible fixed assets

Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses of acquisition.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected economic lives as follows:

• Land and buildings - 2% straight line
• Fixtures, fittings and furniture - 25% straight line
• Office equipment - 25% straight line

Investments

Investments are initially recognised at their transaction value and subsequently measured at their market value as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 17

Docusign Envelope ID: B0893BB5-1F01-4381-8240-AE890BBED36E

IMAGINE ACT AND SUCCEED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies (continued)

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Pensions

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable for the year are charged in the SOFA.

Taxation

The company is a registered charity and therefore exempt from taxation.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Judgements and key sources of estimation uncertainty

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The Trustees do not believe that there are any estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

Page 18

Docusign Envelope ID: B0893BB5-1F01-4381-8240-AE890BBED36E

IMAGINE ACT AND SUCCEED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2 Expenditure

Expenditure on raising funds:
Investment management fees
Expenditure on charitable activities:
Provision of high-quality residential care
facilities and related consultancy services
(note 3)		 Direct
costs
£
17,273
11,577,642
11,594,915		 Support
costs
£
-
453,930
453,930		 2025
£
17,273
12,031,572
12,048,845		 2024
£
16,467
11,664,408
11,680,875

3 Expenditure on charitable activities

Salaries
Motor and travel
Computer support
Property costs
Repairs and maintenance
Other staff costs
Sundry
Depreciation
Loss on disposal of fixed assets
Heat and light
Printing, postage and stationery
Telephone
Insurance
Reimbursement of service user monies (see below)
Governance costs (note 4)
Support costs allocated - salaries		 2025
£
10,934,806
7,678
54,483
5,631
7,460
234,975
61,524
20,513
-
13,305
28,580
42,831
111,864
-
99,385
408,537
12,031,572		 2024
£
10,404,389
8,667
52,158
5,562
7,270
289,508
45,555
20,735
15,280
12,730
27,634
48,550
101,671
138,520
100,949
385,230
11,664,408

The above expenditure relates to the one charitable activity: Provision of high-quality residential care facilities and related consultancy services.

Included above is an amount of £nil (2024: £138,520) for reimbursement of service user monies. In March 2023 it came to our attention that there were discrepancies in finances for a number of people supported. We suspended a staff member and carried out a thorough investigation. This was in partnership with the local authority and the police were involved. We found that £138,520 split between 10 people had been taken. The suspended staff member was dismissed and this led to a deep dive into all our finance systems, banks and processes, to try and ensure this cannot happen again. An additional member of the finance team has been employed whose primary responsibility is auditing of peoples finances and has no dealings with the operational teams. At 31 March 2025 the remaining balance of £55,449 (2024: £84,289) that will be paid back to people is included in creditors.

Page 19

Docusign Envelope ID: B0893BB5-1F01-4381-8240-AE890BBED36E

IMAGINE ACT AND SUCCEED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4 Governance costs

Governance costs
Audit
Legal and professional fees
Support costs allocated - salaries		 2025
£
17,340
36,652
45,393
99,385		 2024
£
16,800
41,346
42,803
100,949

5 Net incoming resources

2025 2024
£ £
The net incoming resources are stated after charging:
Depreciation 20,513 20,735
Audit fee 14,450 14,000

6 Analysis of staff costs, Trustee remuneration and expenses, and cost of key management personnel

personnel
Payroll costs were:
Wages and salaries
Social security costs
Pension costs		 2025
£
10,216,707
847,119
324,910
11,388,736		 2024
£
9,762,758
765,656
304,008
10,832,422

The number of employees whose remuneration for the year exceeded £60,000 was:

2025 2024
£ £
£70,000 to £79,999 1 1

The trustees were not paid and did not receive any other benefits from employment with the charity in the year (2024: £nil). No out of pocket expenses were reimbursed to trustees during the year (2024: £nil). No charity trustee received payment for professional or other services supplied to the charity (2024: £nil).

The key management personnel of the charity comprise the Trustees, the Chief Executive Officer, the Strategic Heads of Operations, the Head of Business, and the Lead Strategic Finance. The total employee benefits of the key management personnel, including employer National Insurance and pension contributions, were £289,825 (2024: £288,583).

Included in the above payroll costs are termination payments of £33,928 (2024: £nil).

Page 20

Docusign Envelope ID: B0893BB5-1F01-4381-8240-AE890BBED36E

IMAGINE ACT AND SUCCEED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7 Staff numbers

The average number of employees during the year was:

Full and part time
Full time equivalents		 2025
2024
No
No
413
439
311
315

8 Pension costs

The charity operates a defined contribution pension scheme in respect of its staff, the assets of which are held separately from those of the charity. Contributions made by the charity to the scheme during the year amounted to £324,910 (2024: £304,008). At the year-end £53,076 (2024: £43,231) was owed to the scheme in respect of contributions.

9 Tangible fixed assets

Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
As at 1 April 2024
Charge for the year
Eliminated on disposals
At 31 March 2025
Net book value
As at 31 March 2025
As at 31 March 2024		 Freehold
land and
buildings
£
531,781
13,259
-
545,040
100,584
10,901
-
111,485
433,555
431,197		 Fixtures,
fittings &
furniture
£
22,833
-
-
22,833
19,163
2,283
-
21,446
1,387
3,670		 Office
equipment
£
109,540
7,914
-
117,454
98,346
7,329
-
105,675
11,779
11,194		 Total
£
664,154
21,173
-
685,327
218,093
20,513
-
238,606
446,721
446,061

Page 21

Docusign Envelope ID: B0893BB5-1F01-4381-8240-AE890BBED36E

IMAGINE ACT AND SUCCEED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

10 Investments

Investments
Market value at 1 April 2024

Additions at cost
Disposal proceeds
Net investment gains/(losses)
Movement in cash held on deposit by investment agents

Market value at 31 March 2025


Listed investments are represented by:
Fixed interest
Corporate bonds
Equities
Real assets
Commodities
Absolute return
Cash held by investment managers on temporary deposit

Total investments

 2025
£
1,736,393

168,674
(253,048)
(15,849)
95,873

1,732,043


2025
£
315,733
120,038
813,138
133,711
34,539
147,232
167,652

1,732,043

 2024
£
1,658,560
395,240
(366,280)
64,211
(15,338)

1,736,393
2024
£
302,361
118,451
837,599
157,901
25,032
223,270
71,779
1,736,393

Investments are valued at market value at the year-end as determined by the charity’s investment managers, Evelyn Partners Investment Services Limited.

11 Debtors

Trade debtors
Other debtors
Prepayments and accrued income		 2025
£
161,990
6,993
412,765
581,748		 2024
£
141,225
7,398
349,489
498,112

Page 22

Docusign Envelope ID: B0893BB5-1F01-4381-8240-AE890BBED36E

IMAGINE ACT AND SUCCEED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

12 Creditors: Amounts falling due within one year

Trade creditors
PAYE and social security
Other creditors
Accruals and deferred income		 2025
£
86,805
198,485
344,597
349,388
979,275		 2024
£
86,189
190,479
375,393
361,035
1,013,096

13 Related party transactions

There were no related party transactions during the current or previous year.

14 Funds

Unrestricted funds

Unrestricted funds
Unrestricted funds Brought
forward at
1 April
2024
£
4,312,257
4,312,257		 Income
£
12,075,359
12,075,359		 Expenditure
£
(12,048,845)
(12,048,845)		 Gains,
losses
and
transfers
£
(15,849)
(15,849)		 Carried
forward at
31 March
2025
£
4,322,922
4,322,922

Restricted funds

There were no restricted fund balances at 31 March 2025. There was no restricted income received during the year ended 31 March 2024 or the year ended 31 March 2025.

Page 23