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2023-03-31-accounts

Registered number: 06204479 Charity number: 1146255

NURTRIO LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

NURTRIO LIMITED

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the charity, its Trustees and advisers 1
Trustees' report 2 - 5
Independent auditors' report on the financial statements 6 - 9
Statement of financial activities 10 - 11
Balance sheet 12 - 13
Statement of cash flows 14
Notes to the financial statements 15 - 34

(A company limited by guarantee)

NURTRIO LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023

Trustees S Beeton
C Jackson (appointed 22 February 2023)
K Lavery (resigned 22 February 2023)
E Lewington (appointed 22 February 2023)
A Morgan (resigned 22 February 2023)
K Turner
A Waterhouse, Chair of Trustees
Company Registered
Number
06204479
Charity Registered
Number
1146255
Registered Office
Eleanor Centre
21 Eleanor Street
Grimsby
DN32 9EA
Company Secretary
J Barnes
Chief Executive
J Barnes
Independent Auditors
Streets Audit LLP
Chartered Accountants and Statutory Auditor
Tower House
Lucy Tower Street
Lincoln
LN1 1XW
Bankers
Santander UK plc
2 Triton Square
Regent's Place
London
NW1 3AN

Page 1

NURTRIO LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors’ report of the charitable company for the year ended 31 March 2023.

The trustees confirm that the annual report and financial statements of the charitable company have been prepared in accordance with the accounting policies set out in note 2 to the accounts and 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).

Since the charitable company qualifies as small, under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director’s Report) Regulations 2013 is not required.

Care 4 All (North East Lincolsnhire) Ltd changed its name to Nurtrio Limited on 1 April 2022 after Navigo Health and Social Care CIC ('Navigo') had become the sole corporate member of the charity. On the same date, the trade and assets of Navigo Extra Limited and Ace Homecare Limited were transferred to the charity.

Objectives and Activities

Objects and Aims

The principal object of the charity is to provide services for vulnerable people.

The objectives of the charity as set out in the memorandum of association are:

Nurtrio’s vision is to be a unique one stop organisation which will effectively deliver outstanding care, support, and kindness in the community. Our vision fully reflects the purposes that the charity was set up for.

The charity’s latest Strategic Plan is still under development and will be finalised during the coming months. The Strategic Plan will be closely aligned to that of Navigo.

Public Benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Achievements and Performance

Page 2

NURTRIO LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

During the year, the trustees made the difficult decision to discontinue our payroll service. This decision was not taken lightly, as we understand the importance of payroll processing for businesses and their employees. However, after careful evaluation and analysis, we determined that discontinuing the payroll service was in the best interest of the charity due to limited growth potential and current staffing structure with one payroll manager and one payroll assistant has proven a challenge and a risk for resilience.

Financial Review

Income has increased in the year due to an increase in Living our Lives activity with increased client numbers. Direct expenditure in providing the activity has similarly increased in particular through increased staff costs.

The results for the year also include the following one-off income and expenditure:

Following the cessation of the payroll service, income and expenditure for the year are disclosed as discontinued operations with expenditure in the year including the loss on disposal of the remaining set-up costs of £8,577.

Policy on Reserves

The reserves policy at the charity is to hold funds between 4% and 16% of continuing expenditure. Based on the 2022/23 results, this is between £231,419 and £925,678.

The total amount of reserves held at 31 March 2023 is £541,565 (2022 - £524,242). Included in the balance is £9,224 (2022 - £10,749) of restricted funds.

Of the total reserves, £64,954 (2022 - £160,151) can only be realised by disposing of fixed assets.

The total amount of free reserves, being total funds less restricted funds and fixed assets acquired from unrestricted funds, is £476,611 (2022 - £364,091).

Reserves are held in line with the policy.

Structure, Governance and Management

Nature of Governing Document

The charity is constituted under a Memorandum of Association and is a registered charity number 1146255. It is a company limited by guarantee, as defined by the Companies Act 2006, registered company number 06204479.

Recruitment and Appointment of Trustees

The management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the Articles of Association.

Induction and Training of Trustees

An induction pack has been created to give details on the charity and its services and their roles and responsibilities as a trustee. A visit schedule to all of the charity’s sites has been developed to enable trustees to gain knowledge and understanding of the services on offer and how we operate. Individual training is sought through appropriate courses relating to the needs of the trustee.

Page 3

NURTRIO LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Arrangements for Setting Key Management Personnel Remuneration

The board of trustees is responsible for setting the salaries of the Chief Executive and other key management personnel. To do this, the board tries to ensure that our staff are paid a fair salary that is competitive within the charity sector in North East Lincolnshire, proportionate to the complexity of each role, and responsible in line with our charitable objectives.

Organisational Structure

The organisational structure consists of the board of trustees and the senior leadership team. At the year-end, the senior leadership team comprised of CEO, Head of Finance, Head of Business Development, Head of Quality and Operations and Operations Manager of Regulated Services.

Business decisions are made by the managers and the Chief Executive on a day to day basis and through discussion at the managers’ meetings. High-level decisions or decisions that affect changes to the organisational structure, policies and procedures are taken to the board for consultation and agreement.

Major Risks and Risk Management

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

Funds Held as Custodian Trustee on Behalf of Others

Included within cash at bank and in hand is of cash held on behalf of clients. The charity does not have entitlement to these funds and a creditor of the same value has been included. At the year-end, the balance was £74,212 (2022 - £186,184).

Future Developments and Going Concern

There are plans to incrementally expand the domiciliary care service despite significant recruitment challenges during 2022/23 and to continue the work to streamline and improve business systems and processes following the merger.

A restructure of the Living Our Lives service staff team will take place in April and May 2023 and the changes will be implemented in June 2023. The ambition is to increase operational effectiveness and reduce costs.

We are also focussing on the strengthening of the partnership between Nurtrio and Navigo and will be seeking opportunities to work more closely together.

The trustees of the charity will be undertaking a thorough and positive review of all aspects of the charity’s service delivery during 2023/24. The comprehensive evaluation will aim to ensure that the charity's activities are effectively meeting the needs of the objectives and communities it serves. By actively examining and refining their service delivery, the trustees are committed to maximizing the positive impact they make and furthering the charity's mission of making a difference in people's lives.

The forecast for 2023/24 is a positive one and therefore the trustees are confident that the charity is a going concern.

Page 4

NURTRIO LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Trustees' Responsibilities Statement

The trustees, who are also the directors of Nurtrio Limited for the purpose of company law, are responsible for preparing the Trustees’ Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these accounts, 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 charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of Information to Auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity’s auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Small Companies Provision Statement

This report has been prepared in accordance with the small companies’ regime under the Companies Act 2006.

Approved by order of the members of the board of trustees on 1 August 2023 and signed on their behalf by:

A Waterhouse Chair of Trustees

Page 5

NURTRIO LIMITED

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NURTRIO LIMITED

Opinion

We have audited the financial statements of Nurtrio Limited (the 'charity') for the year ended 31 March 2023 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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.

Page 6

NURTRIO LIMITED

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NURTRIO LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' 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.

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our 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 Trustees' report.

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

Page 7

NURTRIO LIMITED

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NURTRIO LIMITED (CONTINUED)

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.

Auditors' 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 Auditors' 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.

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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charitable company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Page 8

NURTRIO LIMITED

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NURTRIO LIMITED (CONTINUED)

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

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 Auditors' report.

Use of our 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 Auditors' 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Robert Anderson (Senior statutory auditor)

for and on behalf of Streets Audit LLP Chartered Accountants and Statutory Auditor Tower House Lucy Tower Street Lincoln LN1 1XW

15 August 2023

Page 9

NURTRIO LIMITED

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Note
Income from:
Donations and grants
4
Charitable activities
5
Other trading activities
6
Other income
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net income/(expenditure)
before net losses on
investments
Net losses on investments
Net movement in funds		 Unrestricted
funds
2023
£
138,241
4,826,780
936,713
15,978
5,917,712
926,242
4,889,497
5,815,739
101,973
(83,125)
18,848		 Restricted
funds
2023
£
-
-
-
-
-
-
1,525
1,525
(1,525)
-
(1,525)		 Continuing
operations
2023
£
138,241
4,826,780
913,394
15,978
5,894,393
894,463
4,891,022
5,785,485
108,908
(83,125)
25,783		 Discontinued
operations
2023
£
-
-
23,319
-
23,319
31,779
-
31,779
(8,460)
-
(8,460)		 Total
funds
2023
£
138,241
4,826,780
936,713
15,978
5,917,712
926,242
4,891,022
5,817,264
100,448
(83,125)
17,323		 Continuing
operations
2022
£
84,306
3,039,967
1,917
21,645
3,147,835
500
3,052,377
3,052,877
94,958
-
94,958		 Discontinued
operations
2022
£
-
-
69,623
-
69,623
66,351
-
66,351
3,272
-
3,272		 Total
funds
2022
£
84,306
3,039,967
71,540
21,645
3,217,458
66,851
3,052,377
3,119,228
98,230
-
98,230

Page 10

NURTRIO LIMITED

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Note
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried
forward		 Unrestricted
funds
2023
£
513,493
18,848
532,341		 Restricted
funds
2023
£
10,749
(1,525)
9,224		 Continuing
operations
2023
£
524,242
25,783
550,025		 Discontinued
operations
2023
£
-
(8,460)
(8,460)		 Total
funds
2023
£
524,242
17,323
541,565		 Continuing
operations
2022
£
426,012
94,958
520,970		 Discontinued
operations
2022
£
-
3,272
3,272		 Total
funds
2022
£
426,012
98,230
524,242

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 15 to 34 form part of these financial statements.

Page 11

NURTRIO LIMITED

(A company limited by guarantee) REGISTERED NUMBER: 06204479

BALANCE SHEET AS AT 31 MARCH 2023

Note
Fixed assets
Intangible assets
13
Tangible assets
14
Investments
15
Current assets
Stocks
16
Debtors
17
Cash at bank - client account
Cash at bank and in hand
Creditors: amounts falling due within one
year
18
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets		 6,208
798,012
74,212
162,537
1,040,969
(564,358)		 2023
£
-
64,954
-
64,954
476,611
541,565
541,565
541,565		 3,544
305,444
186,184
284,569
779,741
(415,650)		 2022
£
10,503
66,523
83,125
160,151
364,091
524,242
524,242
524,242

Page 12

NURTRIO LIMITED (A company limited by guarantee) REGISTERED NUMBER: 06204479

BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023

Note
Charity funds
Restricted funds
19
Unrestricted funds
19
Total funds		 2023
£
9,224
532,341
541,565		 2022
£
10,749
513,493
524,242

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

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

The financial statements were approved and authorised for issue by the trustees on 01 August 2023 and signed on their behalf by:

A Waterhouse Chair of Trustees

The notes on pages 15 to 34 form part of these financial statements.

Page 13

NURTRIO LIMITED

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Cash flows from operating activities
Net cash received from / (used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of investments
Net cash used in investing activities
Cash flows from financing activities
Repayments of borrowing
Net cash provided by/(used in) financing 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
The notes on pages 15 to 34 form part of these financial statements		 2023
£
(232,474)
(1,530)
-
(1,530)
-
-
(234,004)
470,753
236,749		 2022
£
5,652
(946)
(53,125)
(54,071)
(159,091)
(159,091)
(207,510)
678,263
470,753

Page 14

(A company limited by guarantee)

NURTRIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. General information

Nurttio Limited (formerly Care 4 All (North East Lincolnshire) Ltd) (the charity) is a limited company by guarantee incorporated in England and Wales and a registered charity. The charity's registered office is at the Eleanor Centre, 21 Eleanor Street, Grimsby, DN32 9EA. The charity's principal activity is the provision of care and associated services.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Nurtrio Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity.

The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Page 15

(A company limited by guarantee)

NURTRIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.4 Intangible assets and amortisation

Intangible assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a reducing balance basis. Amortisation is charged at 20% on the reducing balance basis.

2.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following bases:

Motor vehicles - 25% reducing balance
Fixtures and fittings - 20% reducing balance
Computer equipment - 20% / 50% reducing balance
Caravan - 10% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

2.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

Investments in subsidiaries are valued at cost less provision for impairment.

2.7 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost represents the direct cost of the purchase of stock.

Page 16

(A company limited by guarantee)

NURTRIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.8 Debtors

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

2.9 Cash at bank and in hand

Cash at bank and in hand represents monies held in current and savings accounts with instant access and petty cash.

Cash at bank - client account represents the balance in a separate bank account in the name of the charity that holds client monies which cannot be spent by the charity.

2.10 Liabilities

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.11 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.

2.12 Operating leases

Rentals paid under operating leases are charged to the Statement of financial activities on a straight line basis over the lease term.

2.13 Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

2.14 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 funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 17

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Tangible fixed assets are recognised at cost or valuation less accumulated depreciation and any impairment. Depreciation takes place over the estimated useful life down to the assessed residual value. The carrying amount of the charity's fixed assets is tested as soon as changed conditions show that a need for impairment has arisen.

4. Income from donations and grants

Donations
Net Assets Transferred
Other Donations
Grants
Subtotal		 Unrestricted
funds
2023
£
120,635
1,114
121,749
16,492
16,492
138,241		 Restricted
funds
2023
£
-
-
-
-
-
-		 Total
funds
2023
£
120,635
1,114
121,749
16,492
16,492
138,241

On 1 April 2022, the net assets of Navigo Extra Limited and Ace Homecare Limited were transferred to the charity.

Page 18

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

4. Income from donations and grants (continued)

Donations
Other Donations
Grants
Subtotal
Income from charitable activities
PASS
Meals Plus
Supported Living
Home Care
Housing Related Support		 Unrestricted
funds
2022
£
139
139
-
-
139
Unrestricted
funds
2023
£
121,593
490,588
3,327,229
783,342
104,028
4,826,780		 Restricted
funds
2022
£
-
-
84,167
84,167
84,167
Total
funds
2023
£
121,593
490,588
3,327,229
783,342
104,028
4,826,780		 Total
funds
2022
£
139
139
84,167
84,167
84,306
Total
funds
2022
£
84,747
475,537
2,479,683
-
-
3,039,967

5. Income from charitable activities

Page 19

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

6. Income from other trading activities

Income from non charitable trading activities

Employment Service
Payroll Services
Key Safes
Other incoming resources
Other Incoming Resources		 Unrestricted
funds
2023
£
912,156
23,319
1,238
936,713
Unrestricted
funds
2023
£
15,978		 Total
funds
2023
£
912,156
23,319
1,238
936,713
Total
funds
2023
£
15,978		 Total
funds
2022
£
-
69,623
1,917
71,540
Total
funds
2022
£
21,645

7. Other incoming resources

Page 20

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

8. Expenditure on raising funds

Other trading expenses

Unrestricted
funds
2023
£
Payroll Services
20,796
Key Safes
673
Staff Costs
904,773
926,242		 Total
funds
2023
£
20,796
673
904,773
926,242		 Total
funds
2022
£
31,861
500
34,490
66,851

9. Analysis of expenditure by activities

PASS
Meals Plus
Supported Living
Home Care
Housing Related Support		 Activities
undertaken
directly
2023
£
66,039
495,967
2,826,713
875,682
76,333
4,340,734		 Support
costs
2023
£
13,885
56,019
379,061
89,444
11,879
550,288		 Total
funds
2023
£
79,924
551,986
3,205,774
965,126
88,212
4,891,022

Page 21

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9. Analysis of expenditure by activities (continued)

PASS
Meals Plus
Supported Living		 Activities
undertaken
directly
2022
£
48,661
479,045
2,152,132
2,679,838		 Support
costs
2022
£
10,385
58,276
303,878
372,539		 Total
funds
2022
£
59,046
537,321
2,456,010
3,052,377

Analysis of direct costs

Staff Costs
Other Direct Costs
Staff Costs
Other Direct Costs		 PASS
2023
£
56,825
9,214
66,039		 Meals Plus
2023
£
257,708
238,259
495,967		 Supported
Living
2023
£
2,733,238
93,475
2,826,713
Housing
Related
Support
2023
£
72,982
3,351
76,333		 Home Care
2023
£
789,958
85,724
875,682
Total
funds
2023
£
3,910,711
430,023
4,340,734

Page 22

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Staff Costs
Other Direct Costs
Staff Costs
Other Direct Costs		 PASS
2022
£
48,122
539
48,661		 Meals Plus
2022
£
245,630
233,415
479,045		 Supported
Living
2022
£
2,027,061
125,071
2,152,132
Housing
Related
Support
2022
£
-
-
-		 Home Care
2022
£
-
-
-
Total
funds
2022
£
2,320,813
359,025
2,679,838

Analysis of support costs

Staff Costs
Other Costs		 PASS
2023
£
7,859
6,026
13,885		 Meals Plus
2023
£
31,707
24,312
56,019		 Supported
Living
2023
£
214,176
164,885
379,061		 Home Care
2023
£
50,625
38,819
89,444

Page 23

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9. Analysis of expenditure by activities (continued) Analysis of support costs (continued)

Staff Costs
Other Costs
PASS
2022
Meals Plus
2022
£
£
Staff Costs
6,213
34,863
Other Costs
4,172
23,413
10,385
58,276
Staff Costs
Other Costs
10.
Auditors' remuneration
Fees payable to the charity's auditor for the audit of the charity's annual
accounts		 Housing
Related
Support
2023
£
6,724
5,155
11,879
Supported
Living
2022
£
181,794
122,084
303,878
Housing
Related
Support
2022
£
-
-
-
2023
£
9,000		 Total
funds
2023
£
311,091
239,197
550,288
Home Care
2022
£
-
-
-
Total
funds
2022
£
222,870
149,669
372,539
2022
£
3,950

Page 24

(A company limited by guarantee)

NURTRIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

11. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2023
£
4,724,652
320,316
81,607
5,126,575		 2022
£
2,369,799
156,310
52,064
2,578,173

The average number of persons employed by the charity during the year was as follows:

2023 2022
No. No.
Total 310 156

No employee received remuneration amounting to more than £60,000 in either year.

The total amount of benefits (including employer pension contributions and employer national insurance contributions) received by key management personnel for their services to the charity were £213,500 (2022 - £154,500).

12. Trustees' remuneration and expenses

During the year, no trustees received any remuneration or other benefits (2022 - £NIL) .

During the year ended 31 March 2023, no trustee expenses have been incurred (2022 - £NIL) .

Page 25

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
13.
Intangible assets
At 1 April 2022
Disposals
At 31 March 2023
At 1 April 2022
Charge for the year
On disposals
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Computer
software
£
20,514
(20,514)
-
10,011
1,926
(11,937)
-
-
10,503

Page 26

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

14. Tangible fixed assets

Cost or valuation
At 1 April 2022
Additions
Transfers intra group
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
Transfers intra group
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Motor
vehicles
£
30,130
-
-
30,130
20,136
2,499
-
22,635
7,495
9,994		 Fixtures and
fittings
£
7,258
-
6,956
14,214
7,258
136
6,413
13,807
407
-		 Computer
equipment
£
42,444
1,530
23,609
67,583
14,242
10,416
11,367
36,025
31,558
28,202		 Caravan
£
45,051
-
-
45,051
16,724
2,833
-
19,557
25,494
28,327		 Total
£
124,883
1,530
30,565
156,978
58,360
15,884
17,780
92,024
64,954
66,523

Page 27

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

15. Fixed asset investments

At 1 April 2022
Disposals
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Investments
in
subsidiary
companies
£
83,125
(83,125)
-
-
83,125

Investments in subsidiary companies related to the charity's shareholding in Ace Homecare Limited which has been dissolved after the year-end.

16. Stocks

Finished goods and goods for resale
Debtors
Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income		 2023
£
6,208
2023
£
355,338
316,010
6,770
119,894
798,012		 2022
£
3,544
2022
£
256,764
-
3,579
45,101
305,444

17. Debtors

Page 28

(A company limited by guarantee)

NURTRIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18. Creditors: Amounts falling due within one year

Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Other creditors
Accruals and deferred income
Client monies held
Deferred income at 1 April
Resources deferred during the year
Amounts released from previous periods		 2023
£
33,358
136,187
239,454
28,265
52,882
74,212
564,358
2023
£
871
395
(871)
395		 2022
£
38,105
-
36,905
88,461
65,995
186,184
415,650
2022
£
-
871
-
871

At the year-end, the charity had received income in advance in relation to care services.

Page 29

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

19. Statement of funds

Statement of funds - current year

Unrestricted Funds
General Funds
Restricted Funds
Garfield Weston
LEP Grant
Total of Funds
Restricted Funds:		 Balance at 1
April 2022
£
513,493
4,589
6,160
10,749
524,242		 Income
£
5,917,712
-
-
-
5,917,712		 Expenditure
£
(5,815,739)
(890)
(635)
(1,525)
(5,817,264)		 Gains/
(Losses)
£
(83,125)
-
-
-
(83,125)		 Balance at
31 March
2023
£
532,341
3,699
5,525
9,224
541,565

Garfield Weston - funding provided for the acquisition of vehicles. The unspent balance represents the net book value of assets at the year-end.

LEP Grant - funding provided for an IT improvement project. The unspent balance represents the net book value of assets at the year-end.

Page 30

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

19. Statement of funds (continued)

Statement of funds - prior year

Unrestricted Funds
General Funds
Restricted Funds
Garfield Weston
LEP Grant
Infection Control Fund
Workforce Fund
Kickstart Grant
Total of Funds		 Balance at
1 April 2021
£
411,154
6,232
8,626
-
-
-
14,858
426,012		 Income
£
3,133,291
-
-
20,699
46,124
17,344
84,167
3,217,458		 Expenditure
£
(3,034,702)
(1,643)
(2,466)
(20,699)
(46,124)
(13,594)
(84,526)
(3,119,228)		 Transfers
in/out
£
3,750
-
-
-
-
(3,750)
(3,750)
-		 Balance at
31 March
2022
£
513,493
4,589
6,160
-
-
-
10,749
524,242

20. Summary of funds Summary of funds - current year

General funds
Restricted funds		 Balance at 1
April 2022
£
513,493
10,749
524,242		 Income
£
5,917,712
-
5,917,712		 Expenditure
£
(5,815,739)
(1,525)
(5,817,264)		 Gains/
(Losses)
£
(83,125)
-
(83,125)		 Balance at
31 March
2023
£
532,341
9,224
541,565

Page 31

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

20. Summary of funds (continued)

Summary of funds - prior year

General funds
Restricted funds		 Balance at
1 April 2021
£
411,154
14,858
426,012		 Income
£
3,133,291
84,167
3,217,458		 Expenditure
£
(3,034,702)
(84,526)
(3,119,228)		 Transfers
in/out
£
3,750
(3,750)
-		 Balance at
31 March
2022
£
513,493
10,749
524,242

21. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2023
£
Tangible fixed assets
55,730
Current assets
1,040,969
Creditors due within one year
(564,358)
Total
532,341
Analysis of net assets between funds - prior year
Unrestricted
funds
2022
£
Tangible fixed assets
55,774
Intangible fixed assets
10,503
Fixed asset investments
83,125
Current assets
779,741
Creditors due within one year
(415,650)
Total
513,493		 Restricted
funds
2023
£
9,224
-
-
9,224
Restricted
funds
2022
£
10,749
-
-
-
-
10,749		 Total
funds
2023
£
64,954
1,040,969
(564,358)
541,565
Total
funds
2022
£
66,523
10,503
83,125
779,741
(415,650)
524,242

Page 32

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

22. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Amortisation charges
Loss on disposal of investment
Loss on the sale of intangible fixed assets
Decrease/(increase) in stocks
Increase in debtors
Increase/(decrease) in creditors
Net book value of tangible fixed assets transferred
Net cash provided by/(used in) operating activities
23.
Analysis of cash and cash equivalents
Cash at bank and in hand
Client monies held
Total cash and cash equivalents
24.
Analysis of changes in net debt
At 1 April
2022
Cash flows
£
£
Cash at bank and in hand
284,569
(272,852)
Cash at bank - client account
186,184
(111,972)		 2023
2022
£
£
17,323
98,230
15,884
13,666
1,926
2,626
83,125
-
8,577
-
(2,664)
246
(492,568)
(43,793)
148,708
(65,323)
(12,785)
-
(232,474)
5,652
2023
2022
£
£
162,537
284,569
74,212
186,184
236,749
470,753
On transfer
At 31 March
2023
£
£
150,820
162,537
-
74,212

Page 33

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

25. Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £81,606 (2022 - £52,064). £15,914 (2022 - £11,039) were payable to the fund at the balance sheet date and are included in creditors.

26. Operating lease commitments

At 31 March 2023 the charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2023
£
6,570
2,616
9,186		 2022
£
6,860
9,186
16,046

The following lease payments have been recognised as an expense in the Statement of financial activities:

2023 2022
£ £
Operating lease rentals 6,860 10,317

27. Related party transactions

Navigo Health and Social Care CIC

The charity is a wholly owned subsidiary of Navigo Health and Social Care CIC.

During the year, the charity raised gross invoices to Navigo Health and Social Care CIC totalling £1,799,966. The balance owed by Navigo Health and Social Care CIC at the year-end was £316,010.

In addition, the charity received gross invoices from Navigo Health and Social Care CIC totalling £140,886. The total balance owed to Navigo Health and Social Care CIC at the year-end was £136,187.

28. Controlling party

The immediate and ultimate parent company is Navigo Health and Social Care CIC. Navigo Health and Social Care CIC is the controlling member of the charity.

Consolidated accounts can be obtained from Companies House.

Page 34