Jaffray Property Solutions (A company limited by guarantee) Trustees, Report and Financial Slalements For The Year Ended 31 March 2024 Registered Company number.. 07249961 Registered Charity number- 1143062 Jaffray Property Solutlons Trustees. Report and Flnanclal Statements For The Year Ended 31 March 2024 Contents Pages Administr8tNe informalion Strategic report Trustees. report including slalemenl of Trustees, responsibilities Independent auditors, report 10-13 Statement of financl81 activltles lin¢luding summary irKome and expenditure account} 14 Balan￿ sheet 15 Notes to the financial statements 16-20 Jaffray Propgrty Solutlons Administratlve Informatlon Trustees and Directors.. Mr G cUMbe￿and Ms L Hendors Mr C Lees Mr M Weir Registered office- The White House 39 Jaffray Ciescent Erdington Birmingham B24 8BE Bankers= Lloyd$ 8ank pl 293 High Street West Bromwich B70 8NA Auditors.. Malcolm Piper & Company Limited Kingsnorth Hous Blenheim Way Birmingham 844 8LS Solicitor8'. Ansons St Mary's Chambers 5-7 Breadmarket Street Lichfield staffordshire WS13 6LQ Registered Charity number.. 1143062 Registered Company number.. 07249961 Senior management team.. Ms L Hendon Mr C Lees Mr M Weir (Chief Executive Officer) (Director of Finance) {Direclor of Estalesl Page 1 Jaffray Property Solutlons strateglc Report About Jaffray Property Soluuons Jaffray Property Solutions is a Company limitèd by guarante8 and is also a RegSstered Charity. The Charity 1$ a wholly owned subsidiary company of Jaffray Care Society, which is 81so a Registered Charity. Jaffray Care Society and ils subsidlary company I'lhe CharlWI are a leading regional le8ming disability Charity which can trace our origins back to 1990 when services for individuals with learning disabilities began lo move from hospltals and into the wider community. In the year to 31 March 2024, we continued to provide nursing care. residential caTe, SLtpported living and communty Services. A¢tlvltles and ObJectlvé$ The Charty provldes high-quality personallsed support and advice for people with various abilities and health care needs. Our direct SUPPOrt services encompass advocacy, health, education. housing. leisure and omployment, helping people live the lives they choose here and now. The objects of the Charity, as ststed within the Memorandum and Articles of Association. are lo provkte housing. and associated amenities for individuals with various abilities and health care needs (including people with le8ming disabililles, dementia. complex health care and acquired brain injuries) that are in necessrtOLts Circumstan￿5. Aims Our aims are to provide the best health and social care service p08sible for those people wth learning disabilities, autism, mental health, complex health care needs and dementia with the support of specially trained and cornmitted staff so that we:. Maintain the privacy, dignity and individuality of each service user- Keep everyone safe., Respect seNice user's wishes and their right to personal choice over their daily care and support- Provide a caring nursing and therapeutic environment for each service user, welcoming and encouraging family and friends lo participate In the care delivery- Create a caring and homely and personJwer to remain so. We were abgolulely delighted that our care management team were nominated as finalists at the National Learning Disability and Autl8m Awards in 2024 in tsvo calegories:_ Employer of the Year - which seeks to acknowledge and celebrate an exceptional employer who is committed to thelr employees delivering an excellent service lo their customers, people with learning disabilities or people with autism and their families. Employers should be able to provide considerable acumen and entrepreneurial flair whilst at the same time having a sustained track record of dolivering high quality care and managing change improvemgnl. The Learning Disability Nurse Award - Tracey Dunkley. Care Manager al Lime Court which acknowledges the important ro19 that specialist nurses have in promoting the emotional, physical and psychological health of the people who they support. At a t'me when thero is growing evidence that people who have a learning disability experience discrimination, bullying, hale crime and poor access to seTvices in general lemis, as well 8s heallh¢aro, the rolg of specialist professionals ha$ never been more important. Page 4 Jaffray Property Solutlon$ Slrateglc Report Icontlnugd) Further congratulations to Tracey Dunkley, Care Manager al Lime Court. who is also appearing al the Markel Third Sector Care Awards. Tra¢ey is a finalist in the category of Social Care Nurse of the Year. This award celebrates an exeepllonal registered nurse who is woiking in a social care setting and has a proven track record of Implementing and delivering outstanding and innovative persOn￿centred care. Our Chief Executive Officer. Lee Hendon, was also recognised this year 8t the Women Achieving Greatness Awards {WAGs} by receiving a highly commended in the Lifetime Achievement Award. The purpose of the WAGS awards are to promote gender equity and prornote and celebrate the incredible achievements of the health and social carg female workforce. Lee was recognised for her dedication to the leaming disability and mental health fields of nursing. The Charity's own long serviee awards also recognise the conlribulion$ of our staff individua15y. This year we had 17 staff who werè recognised for their length of service from 10 years to 25 years. Embraclng the Dlgltal Age and Technology Changes in technology have provided us wlh opporbJniti8s to build on the innovations incorporated into all our eare homes. The Person Cenlred Electronic Care Planning syslom allows for the creation of accurate evidence of care and provides easily accessible data. Person Cgnlred Sofhyare Provides a single solution and is called Mobile Care Monitoring IMCMI- We have more recently fully rolled out the Your Hippo training sofiware to all of our homes. The e-leaming and learning management system is used widely within the care sector. This system has considerably improved our abllity to deliver mandatory training in a timely and foeussed manner. 11 has an inbuilt audit system and tralning matrix which enables care managers and our training administrator lo easily identify gaps in trainlng and ensure these are qU￿kty ffilled. We have also changed our principal IT supplier this year, prompted by a cyber securty threat dealt with in- house. As part of the govemance strategy to review our IT support and cyber securlly a number of companies were invlted to present their services so we could examine whether they would be a better fit with the CharTrty The Board of Directors formally adopted the motion to change lo Core Team One. This declslon was reached after discussing the merits of both companies. The Board are mindfvl that they have a duty to prevent as far as possible a catastrophic loss of revenue, personal information, and intellectual propety due lo a cyber-attack and made this decision after careful consideration of all of the relevant, necessary and pertinent points. New Webslte and Soclal Media Plattomi The Charity now has a fully operational new website {www.jafftaycare.com). whieh not only serves as a promotional tool but it tells the Story of the Charty and what we offer. 11 provides eonlact informab'on and reflects the Charity's personality and distinguishing characlersslics. We continue to keep our beneficiaries, their families. advocates and all our multi agency colleagues up to date and inforrned about our service provision and our plan$ for the future. We have also estsbllshed a very active Facebook page which documents all acfjv511es and Important dales across the buslness. Families find this very informative and useful as an Interactive way lo ensure they are fully updated regarding cornmunity activities. This works well alongside our new quarterly newsletter and improved website. Page 5 Jaffray Propety Solutlons strateglc Report {contlnuedl StruGture, Governance and Management Jaffray Property Solutions is a Company limited by guarantee and therefore does not have a share capital. The liability of members is limited and details of their guarantee are detsiled in the notes lo the financial statements. The Company is also a Registered Charity and was founded in 2010. The Charity has a plan in place lo idenlty and induct new Trugtees as and when they become aware of ndividuals with an interest in our activities, or where it is perceived that a Trustee with an additional skill sel. to complement those held by the Clrrrent Trustees, is required. Our commitment to govemance has seen the continued overview and strategic managemgnt of operations by the Board during the year. The Board meets regulady to review strategy. operational risks and efficiencies and financial systems, procedures and information to ensure that there is appropriate oversight and critical appraisal of ackn'vities and decisions taken to achieve the Charity's objectives. The Chartty also maintains full Trustee Indemnity Insurance which is provided by the parent undertaking. Flnanclal Revlew A summary of the financial results for the year is givgn in the Statement of Financial Acllvilles on page 14 and the Balance Sheet on page 15. Total income forthe yearwas £80.12512023'. £74,127) and lolal expenditure was £70.525 {2023'. £66.327). Net incoming resources for the year were £9.600 {2023: £7.800). The Charity has faced contlnued cost pressures in the last financial year, mainly due to the ongoing cost of Ilvlng crlsls. Charity overheads have spiralled this year. and we have renegotiated with a number of our larger suppliers lo protect ourselves as much as posslble from exposure to significant increases. Rosorves Poll The Charity has considered the level of resorves that they require in respect of future requirements. The requirement of sufficient reserves can be summari9ed in three areas.. Assurance for residents that the Chadty can ¢onlinue lo provide them with care and housing should funding be delayed for an indiviéual or group of service users. The reserve requirement, included wtlhin our c8lculalions. is based upon a mir¢imum of approximately ￿e1ve weeks, resources expend8d. additional servlce users. The Charrty looks lo develop this using their own intemally generalgd r9s9rves rather than via exlemal borrowings so that the security of the Charity's existing resldents Is not pul at risk. The Charty retsins its surpluses for future use in providing increased numbers of residential placement5 and supported living options lo provide the firsl-class care that Is In such demand for all its service users. Total unrestricted reserves held as al 31 March 2024 amounted to £152,64512023'. £143.045). Plans for Futurè Yaars The Charity continues to develop as an Innovative and forward-thinking organisation. able to drive improvements in how people experlence health and care s8rvic8s and work with them towards a safe and secure future. To achieve Ihls vision, the Charity has a short lem commitment lo devising a new developmenl strategy that builds on our successes and values yet keeps to our eentr81 purpose. The Charity stresses thal any fvlure development strategy WIIS be based on a rlsk a$se$sed Intelligent approach with various business scenarios being explored. Given the continued difficult ecOr￿liC conditions, the longer term and continuing impact of the COVID 19 pandemic. and the difficulties securing funding for operating capital, let alone major capitsl projects, we continue lo believe that protecting and growing the Charity's reseNe$ 1$ a noc¢ssary, p¥udent and advisable policy. Page 6 Jaffray Property Solutlons strateglc Report (contlnued) Plans for Future Years Icontlnuedl The Charity also intends to increase its pot&ntial donor base with a view to raising funds from trusts and grant giving organisalions. Fundraising objectives for Ihg next ￿e1ve months will be to prepare cases for support for potential new fundraising projects. Given the strength of the Charity's fundraising messages and ils excellent reputation and community focus, w8 believe this could be a significant source of income. Another principal priority is to maintsin all facilities and environments to an extremely high standard. though all areas have recen11y received investment to upgrade their environments. we are mindful that regular work and r&investmenl is continually needed to maintain such high quality. Upgrading of the existin9 environments is part of the ongoing development strategy of our Estates Team. We develop our environment to accommodate ever changing ngeds. The next major prolect on the horlzon wlll be the re-roofing of our Supported Living propety. Broadfields Lodge. We are aclNely engaglng in a fundralsing pmjecl to support this. We recognise the importance of keeping up lo dato on property wear and tear and unavol￿b1e damage and lo keep the environment looking highly presentable and homely and above all. safe for all. A slruclured programme of work lo ensure the physic81 corbdition of the properties does not deteriorate is considered beneficial. W8 will continue lo pursue opportunities lo estsbllsh fvrther projects by listening to the aspiralfons of people with learning disabilities, their families and our staff. and lo also listen to the needs of the community In which we operate. The Charity is proud of its ability to adapt to the changing needs of our setvice user group, the community and the requirements of our local a*Jlhorlty partners. Approved by the 8oard on 23 October 2024 and signed on its beha￿ by: Mr M M¢Eachran Trustge Page 7 Jafftay Property Solutlons Trustees R6port The Trustees, who are also Directors of the charitable company for the purposes of the Companies Act, present their annual report and the audited financial statements for the year ended 31 March 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice {SORPI Accounting and Reporting by Charities" IFRS 1021 In preparing the annual report and financial statements of the Charity. Trustees The Tru51ees who held office during the year We￿ as follows: Mr G Cltmberland Ms L Hendon Mr C Lees Mr M Weir A specific Health and Safety pollcy is in place and the Group and charitable company's Iyhe Charity'} stsff are closely involved in all operational and business risk assessments. The Trustees take this matter extremely seriously and it is discussed al every Board Meeting as an Agenda item, where aetksn plans are reviewed and acted upon. Trustees continue to attend governance conferences and Institute of Directors. events. Members of the Board have also attended apprOp￿ate financial and operational training courses. Trustges, Responslbllltles The Trustees (who are also Directors of Jaffr8y Property Solullons for the purposes of company lawl are responsible for preparing the Trustees, Annual Report {Including the Strategic Report) and the financial statements in accordance with applicable18W and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company Law requires the Trustees lo prepare financial statements for each financial year, which 9ive a true and fair view of the 5tste of affairs of the Charity and of the income and expenditure of the Charity for that period. In preparing Ih8s9 finanoal statements, the Tnjslees are required to= select suitabl¢ accounting policies and then apply them consistently: obSe￿e the methods and principles in the Charities SORP 2019 {FRS 1021., make judgements and esb'mates that are reasonable and prudent.. stale whether applicable UK Accounting Standards have been followed. Subject lo any malerlal departures disclosed and explained in the financlal statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that dlsclose wllh reasonable accuracy at any lime the financial position of the charitable company and enable them lo ensure that the financial statements comply with tho Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the pTrvention and deledion of fraud and other i￿egUlarities. In so far as the Trustees are aware: there is no Televant audit information of whlch the Charlty'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 infomiation. The Trustees aTe responsible for the maintenance and integrity of the corporate and financial infomialion included on the Charity's website. Legislation in the United Kingdom governing the preparation and disseminallon of financial statements may differ from legislation in other jurisdictions. Page 8 Jaffray Property Solutlons Trustees Report Icontlnued) Ablllty Incluslon for employees The Charity gives fijll and fair consideratlon lo appllcalions lor employment from persons who are physically, mentally or developmentally impaired. where the requirement of the job may be adequately covered by such persons. With regards lo existing employees who become physically, mentally or developmentally impaired durlng their employment, the Charity continues to examine ways of providing continuing employment under normal terms and conditions and to provide training, career development and promolton where appropriats. Employee Involvement During the year, the pollcy of providing employees with infonnation about the Charity has been continued through intemal media methods in which employees have also been encouraged to present Ihelr suggestions and vlews on the company's performance, achievements and developments in community- based projects. Regular meetings are held be￿een local management and employees to allow a free flow of information and Ideas. AudStors Malcolm Piper & Company Limited remained as auditors lo the Charity throughout the financial year and have indicated Iheir willingness lo continue in office. Approve th 23 4 and signed on its behaK by:" Mr G Cumberland Trustee Page 9 Ind¢pondent Audltorfs Report to the Trustees of Jaffray Propety Solutions Year Ended 31 March 2024 Oplnlon We have audited the financial statements of Jaffray Property Solutions Ilhe 'charilable company'l for the year ended 31 March 2024 which comprise the Slalements of Financial Activities, Balance Sheet and notes to the financial ststements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United lQngdom Accounting Stsndards, including Financial Reporting Standard 102 The Financial Reporting St8ndard applicable in the UK and Republic of Ireland Iunlled Kingdom Generally Accepted Accounting Praclicel. In our opinion the financlal statements- gNe a true and falr vlew of the stste of the charitable companys affairs as at 31 March 2024, and of the incoming resources and application of resources, including ils incolne and expenditure. for the year then ended.. have been propedy prepar& In accordance with United lQ'ngdom Generally Accepted Accounting Practice., and have been prepared In accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audrt Sn accordance with International Standards on Auditlng {UKI IISAS IUKII and applicable law. Our responslbSlllles under those standards are further described in the Auditor's responsibilities for the audtt of the financial statements section of our report. We are independent of the charitable company in accordance with the ethlcAI requirements that are relevant lo our audit of the financial statemer¢ls in the UK. inclLtding the FRC'S Ethi¢al Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have oblained is sufficient and appropriate to provlde a basis for our opinion. Concluslons relatlng to golng concern In audlling the flnancial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is approprlale. Based on the WO￿ we have performed, we have not identified any material uncertalntles relating to events or conditions that, individually or collectively, may cast significant doubt on the eharilable company's abillty to continue as a going concern for a period of at least ￿e1ve months from when the financial statements are aulhorised for issue. Our responslbilltles and the r8sponsibilitl8s of the Trustees with respect to golng con¢em are described in the relevant sectlons of this report. Other Informatlon The other information compfises the information Induded In the Trustees, annual report, other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other informatlon contained within the annual report. Our opinion on the financlal statements does not cover the other information and, ex￿pt lo the extent olheNise explicllly slated in our r8POrt, we do not express any form of assurance conclusion Ihereon. OLsr responsibillty Is to read the other Inlomation and, in doing so, consider whether the other information is materially inconslslent with the financial statements or our knowledge obtained the course of the audit or otherwise appears to be materially misstated. If we identrfy such material Inconsistencies or apparent material misslatemenls, we are required to determine whether this gives rise lo a material misslalement in the financial ststements themselves. If. based on the work we have performed, we conclude that there is a material misstatement of thls other information, we are required to report that fact. We have nothing to report In Ihl$ regard. [continued ...J Page 10 Independent Auditor's Rgport to the Trustees of Jaffray Property Solutlons (contlnuedl Year Ended 31 March 2024 Oplnions on other matt•rs prgscrlbed by the Companles Act 2006 In our opinion. bas8d on the work undertaken in the course of the audit: the information given in the Trustees, Report (incofpofating the Strategic Report and the Trustees, Report) for the financial year for which the financial statements are prepared Is consistent wth the financial statements: and the Strategic Report and the Trustees, Report have been prepared in a￿ordanCe with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the light ol our knowledge and understanding of the charitable company and ils environment obtained in the course of the audit. we have not idgntifigd material misstatements in the Slralegi¢ Report and the Trustees, Report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report lo you rf, in our opinion: adequate accounting records have not been kept by the ¢haritable company, or relums adequate for OLtr audit have not been received from branches not vlsited by us,. or the charitable company's financial statements 8re not In agreement with the accountlng record9 and returns., or certain dlsclosures ol directors, remuneration specrfled by law are not made; or we have not received all the infomiation and explanatlons we requirg for our audit. Responslbllltles of Trustees As explained more fully in the Trustees. responsibilities statement sel out on page 8 the Trustees {who are also the Directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they glve a true and fair view, and for such inlemal control 8$ the Trustees determine is necessary lo enable the preparation of rinancial statements that are free from material misstatement, whether due to fraud or error. In preparing the financlal Statements, the Trustees are responsible for assessing the charitable company's ability to contfnue as a going concern. disclosing, as applicable, matters related lo going concem and using the going concem basis of accounting unless the Trustees either intend lo liquidate the parent charitsble company or to cease operations, or have no realistic alternative but lo do so. Audltor's responslbllltles for the audlt of the flnanclal statements We have been appointed auditor under the Companies Act 2006 and report in accordance with this Act. Our oblectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstalemenl, whether due to fraud or error, and to issue an auditorfs report that Includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delect a material misslatemenl when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reason8bly be expected to influence the economic decisions of users taken on the basis of these financial stslemenls. [contlnued ...] P8ge 11 Indgpondent Audltorfs Report to the Trustees of Jaffray Property Solutlons (contlnued) Year Ended 31 March 2024 Irregularities. including fraud, are Instances of non-compliance wlh laws and regulations. We design proceduTes in line with our responslbilities. Including fraud is detailed below: We obtsined an understanding of the legal and regulatory frameworks that are applicable to Jaffray Property Solutions, (Yhe Charity'l and determined that the most significant are those that relate to the UK reports'ng framework under which the Char5ty prepares ils accounts and reports ils results and the relevant UK tax compliance regulations. In addition, we concluded that there are certain significant laws and regulations that may have an effect on the delemiination of the amounts and disclosures in the financial statements and those laws and regulatr'ons Include those relating lo health and safety. employee matters, environmental, and bribery and corruption Practices; Having due regard lo ISA 240 (Redraftedl. The Audkorfs Responsibilities Relating lo Fraud in an Audit of Financial Slalements. we planned and designed our audit procedures to undertake such enquiry and testing which we deemed necessary lo understand how the Charity is complyirbg with those frameworks. We made enquiries of the Trustees, senior management and those responsible for legal and compliance procedures within the Charity and we corroborated our enquiries by reference to other documentary evidence, where available. or other complimentary or compensating evidence and with other correspondence received and noted that there was no conlradiclory evidence.. In designing the scope and depth of our work to assess the likely impact on the financi81 statements of fraud and other irregularities. we calculate a materiality level which is a percentage based upon turnover, profitability and gross balance sheet assets. This calculation produces a figure against which financial statement errors and irregularities are compared and indicates a level at which, in our opinion and judgement, this would cause Iransacb'ons and balances within the financial stslemenls lo be misleading or materially incorrect. We also assessed the susceptibility of the Flnancial Statements of the Charty lo material misstatement using qualitative as well as quanlitalive factors. including how fraud might occur, and designed our audit testing and enquiries in such a way so as to enable us lo identify the fraud risks aCTOSS various parts of the business. In addition. we utillsed internal and exlemal information to perfom a fraud risk assessment as part of our audlt plannlng and lesling procedures. We consldered th9 risk of fraud through management overrfde of eonlrols and systems and, in response, we incorporated Igsling of large or unusual manual joumal entries into our audit approach. We also considered the possibility of fraudulent or corrupt payments made through third parties and conducted delailgd analytical review and substantive transaction testing on third paty suppliers. Where instances of unusual behavioLtr pattems We￿ id&ntified through our testing, we performed additional audit procedures to address each identified risk. These procedures included testing of transactions back lo source infomiation and were designed lo provide reasonable assurance that the financial statements were free from fraud or error. We also conducted specifio audit procedures in relatson lo the risk of bribery and Corruption by means of review of any marketing, promotion or discount activity delerminad by a risk-based process: Based on the results of our risk assessment we designed our audit prwedures to identity non- compliance with such laws and regulations identifled above. Our procedures involved joumal entry testing, with a focus on journals meetlng our defined risk criteria based on our understsnding of the business and enqulrles of the Charivs manag8ment' and If any instances of non-compliance with laws and regulations were Identlfled. the audit team performed sufficlenl and appropriate audit procedures. Because of the inherent limitations of an audit. there is a risk that we will not detect all I￿egUlar1tieS, Including those leading to a material misstatement in the financial st8lements or no￿￿0MplIanCe with regulation. This risk increases the more that complianee wllh 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 inlenlsonal concealment, forgery, collusitin, omission or misrepresentation. [contlnued ...] Page 12 Independent Audltor's Report to the Trustees of Jaffray Property Solutlons Icontlnued) Yoar Ended 31 March 2024 A further descripllon of our responsibilities for the audit of the financial statements is located on the Financi81 Reporting Council's website al.. w¥yw.frc.org.uklaudilorsresponsibilities. This desciiplion forms part of our auditor's r8POrt. Use of our report This report is made solely lo the tharilable 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 lo stste lo them in an audttor'$ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo 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. Pet r Whltohoad BA FCA Senlor Statutory Aud5tor For and on behalf of Malcolm Piper & Company Llmlted Kln9snorth House Blenheim Way Blrmingham B44 8LS Dated.. 23 October 2024 Pagg 13 Jaffray Property Solutlons statement of Flnanclal Actlvltles Ilncludlng Summary Income and Expendituro Account) for thè Yoar Ended 31 March 2024 Unrestrlcted Fund$ 2024 Unrestrlcted Funds 2023 Nots Income from: Charitable activities Residential care seTvices Rental income frorn housing benefit 1,277 78,848 1.157 72,970 Total Income 80.125 74,127 Expendlture on: Charitable activ5tles Residential care costs Support costs 54,239 16.286 51.241 15,086 Total oxpendtture 70,525 66.327 Net Income and Net movement In funds for the year 9.600 7,800 Reconclllatlon of funds: Total fvnds brought fomard at 1 Apr￿ 2023 lunreslricted} 143,045 135,245 Total funds carrled forward at 31 March 2024 (unrestrlcted) 12 152,645 143.045 l income and expenditure is derived from continumig activttses. Th8 Slalement of Finanaal Activities indudes 811 gains and losses recc*Jnised during th8 year. The noles on pages 16 to 20 form an integral part ol these f￿anCial ststements Page 14 Jaffray Property Solutlons (Reglstratlon number 07249961) Balance Sheet at 31 March 2024 2024 2023 Note Flxgd assets Tangible fixed assets 439,932 453,339 Curront assets Debtors 10 64.631 65.937 64,631 65,937 Credltors.. Amounts falling due within one year {351.9181 (376,2311 Net current Ilabllltles {287.2871 (310,2941 Total assets less current Ilabilities 152,645 143,045 Net assels 152,645 143,045 Fund$ Unrestrlcted funds 12 152.645 143,045 Totsl funds 152,645 143,045 These financi its behalf ere approved and authorised for issue on 23 October 2024 and signed on Mr mbe and Trustees MSL en on The notes on pages 16 to 20 form an Integral part of these financial statements Page 15 Jaffray Property Solutlons Notes to the Flnancial Statements for the Year Endèd 31 Mareh 2024 Accounting Pollcles General Inlomiatlon and Basls gf Prgparatlon The Charity is a company Ilmiled by guaranlge in England and Wales. The single member of tho company is Jaffray Care Society, a registered Charity {1001885) which itself Is a company limited by gsJarantee1025543671 in the United Kingdom. In the event of the Charity being wound up, the Ilability 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 1 of the financial slatemenls. The nature of the Charity's operations and piincipal activities are detslled in the Strategic Report on page 2. The Charity constltules a public benefit enllty as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Slalemenl of Recommended Practice ISORP) applicable to charities preparing their accounts in accordance with the Financi81 Reporting Standards applicable in the United Kingdom and Republic of Ireland {FRS 1 C)21. the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it 8ppli$s from 1 January 2019. The financial statements are prepared on a going concem basis under th8 historical cost convention. The financial statements are prepared in sterling which is the functional currency of the Charity and rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are sel out below. These polieies have been consistently applied to all years presented unless otherwise staled. Cash flow Statement The Charity has taken advantage of the reduced disclosures exemption granted by FRS 102 whereby it is not required lo publish ils own cash flow slalement. This is because its ultimate parent undertaking, Jaffray Care Society. publish a Consolidated Cash flow Statement as part of ils Group accounts. These Group accounts are available from the Charity's registered office. Funds All of the funds of the Charity are unrestricted funds and are available for use at the discretion of the Trustees in the furtherance of the general objeelives of the Charity and which have not been designated for othgr purposes. Income recognition All income is included in the Statement of Financial Acts'vitles when the Charity is legally enlilled to the income after any performance conditions have been mel,. the amount can be quantified Wtth reasonablg accuracy,. and il is probable that the income will bg received. Fees for the provision of housing and associated amenities ars a¢¢ounled for on an accruals basis. Government grant Income The company receives government grants in respect of supportfor staff and protective supplles during the recent pandemic. Income from government and other grants are recognised al fabr value when the company has enlillemenl after any performance conditions are met, h is probable that the income will be received and the amount can be measured reliably. Expendlture recognition All expenditure is accounted for on an accruals basis and has been ciassified under headings that aggregate all Costs related lo the category. Expenditure is recognised where there is a legal or conslruclive obligation lo make payments to third parties,. it is probable that the settlement will be required.. and the amount of thé obligation can be measured reliably. It is all categorised as expenditure on charitable activities. Support costs Support costs are those that assist the work of the Charity bul do not directly represent charitable activitie5 and include interest payable on bank borrowng and governance costs. They are incurred directly in support of expenditure on the objects of the Charity- Page 16 Jafftay Property Solutlons Notes to the Flnanclal Statements for the Year Ended 31 March 2024 (contlnuedl Accountlng Pollcles (Gontlnuedl Tanglble flxed a5set$ Tangible fixed assets are stated at cost less depreciation. It is the Charity's policy to maintain these assets In a g¢)od slate of repair. Depreclatlon Is provlded on tangible fixed assets, al rates calculated to write off the costs, less estimated ￿sIdUal value, of each asset on a systematic basis over ilg expected useful lrfe as follows.. Freehold propety Leasehold Property 2V/4 per annum slraighl line over the ￿riod of the lease Freehold land is not depreciated. Debtors and credltors recelvable I payable wlthln one year Debtors and creditors wlh no slated interest rale and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised In expenditure. Impalrm8nt Assets not measured at fair value are reviewed for indication that the asset may be impaired al each balance sheet date. If such indication exists. the recoverable amount of the asset, or the asset's cash generating unil, is estsmated and compared lo the carrying amount. Where the carrylng amount exceeds Its r8COV8rable amount, an impairment loss is recognised in the SOFA. Provlslons Provisions are recognised wher4 the Charily has an obligation al the balance sheet date as a result of a past event- il is probable that an oufflow of economic benefits will be required in settlement.. and the amount can be reliably estimated. Taxatlon The Company is an exempl Charity wllhin the meaning of schedule 3 of the Charities Act 2011 and is considered lo pass the tests sel out in Paragraph 1 Schedule 6 Finance Acl 2010 and therefore it meets the definition of a charitable company for UK corporatlon tax purposes. Golng Concem The financial slalemenls have been prepared on a going concern basls 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 aulhorlsing these financial statements. The budgelod income and expenditure is sufficient with the level of reseNe$ for the Charity lo bo able to continue as a going concem. The cornpany is dependent upon the funds and facililles provided by the parent company lo ensure they meet their debts as they fall due. The directors are not aware of any reason why the parent company would not contlnue to SUPF)Ort them. Sublect to their own financing needs. Total Incomo All income for the current and prior year is from the fvrtherance of charitable acts'vities and is attributable to Ltnrestrlcted funds. Trustees, Remuneratlon The Trustees received no remuneration during the year12023.' £nill for services piovided to this charitable company. Their expenses are paid by the charitable company's parent undertaking. Jaffray Care Society, and are disclosed in the financial statements of that charitable company. The parent undertaking also maintains full Trustees. Indemnity Insurance for the Trustees of the Company and the cost of this cover is disclosed in the financial slalements of that charitable company. Page 17 Jaffray Property Solutlons Notes to Ihe Flnancial Statements for the Year Endgd 31 Ma￿h 2024 (contlnued) Total Expendlture Al expenditure for the current and prior year is in respect of the fijrtherance of the charitable activitie$ and is attributable to unrestricted funds. Other Dlroct Costs Staff Costs 2024 2023 Residential care costs Support costs (see note 5) 54,239 16,286 54,239 16,286 51,241 15,086 70.525 70,525 66.327 Staff Costs are borne by the parent undertaking. Support Costs 2024 2023 Interest payable on bank borrowngs {see note 81 Govemance costs (see note 6) 14,486 1,800 13,286 1,800 16,286 15.086 Governance Costs 2024 2023 Profession81 fees (including audf(ors' remuneratlon) 1.800 1,800 Net Income forthe Year Net income is slated after charging.. 2024 2023 Auditors. remuneration Audit fees Depreciation 1.800 13.407 1,800 13,406 Interest payable and slmllar charges 2024 2023 Interest payable on bank borrowing lamount recharged by parent ijndertaking) 14.486 13.286 Page 18 Jaffray Property Solutlons Notes to the Flnanclal Statgments for the Year Ended 31 March 2024 {contlnuedl Tangiblo Fixed Assets Freehold and Leasehold Property Cost At 1 April 2023 and 31 March 2024 670.296 Depre¢latlon At 1 April 2023 Charge for the year 216,957 13,407 At 31 March 2024 230,364 Net Book Valu8 At 31 March 2024 439.932 At 31 March 2023 453,339 Included in freehold propety Is land of £nil (2023.. £nill whrch is not depreclated. Included in freehold and leasehold propety is leasehold property with a cost of £nil12023.' £nill, following ils full impairment in a prior perlod. AIS the above property Is used as securlty for the parent undertakings bank borrowlngs. 10. Debtors 2024 2023 Amounts falllng due wlthln ono year. Trade debtors Other debtors Prepayments 48,974 5,861 9,796 53,625 3,811 8,501 64,631 65.937 Page 19 Jaffray Property Solutlons Notes to Ihe Flnanclal Statements lor the Year Ended 31 March 2024 (contlnuedl 11. Creditors: Amounts falllng due wlthln onè yoar 2024 2023 Amounts lalllng due wlthln one year: Group undertaking Accruals and deferred income 336.389 1 S,$49 357.768 18,463 351,918 376,231 12. Funds Rè¢onclllatlon Asat 1 Aprll 2023 Asat 31 March 2024 Income Exponditure Unrestrfcled funds & lotsl funds 143.045 80,125 (70,525) 152,645 The unreslricled funds represent the frfje funds of the Charity which are not des￿nated for specific particutar purposes other than th8 Charity's general objects'ves. 13. Analysls of Net Assèts betweon Funds All funds are unrestricted. Under the terms of the Memorandum and Articles of Assoclatron all surpluses are lo be applied towards the promotion of the Charity's objectives. 14. Contlngent Ilablllty The company has provided a cross guarantee over the assets of the company to Lloyds Bank plc in respect of the bank borrowings of the parent undertaking, Jaffray Care Society. Al 31 March 2024 this amounted to £2.478.82412023'. £2.698,607}. 15. Related Party Transactlons During the year nel repayments of £21,39912023: £6,069) were made to the parent undertaking, Jaffray Care Society in respect of net income and expenditure received and defrayed on behalf of the company. The balance due lo the parent undertaking at the year*nd was £336,369 {2023.' £357,768). 16. Parent undertaklng The parent undertaking is Jaffray Care Society. a registered Charity {10018851 whlch Itself Is a company limited by guaranlee102554367) in the United Kingdom Ltndertaking the provlslon of housing, care and associated amenities for people with learning disabilities and complex healthcare needs who are in necessilous circumstances, and the provision of an open day-care facility for people with learning disabilities. Control is exercised by similar management and Trustee teams. The address at which the Consolidated Accounts of Jaffray ca￿ Society can be obtained is al the same registered office as staled on page 1. 17. Posl balance shoet events Subsequent to the year end, the Charity has surrendered a lease at £nil cost for a leasehold property which had been fully impaired In a previous accounting period as this property was deemed by the Trustees to have no future value or purpose within the Charlty. Page 20