2024-03-31-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 2024

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 - 32

NURTRIO LIMITED

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees	S Beeton
	R Brewin (appointed 26 September 2023)
	C Jackson
	E Lewington
	K Turner
	A Waterhouse, Chair of Trustees
Company Registered Number 06204479 Charity Registered Number 1146255 Registered Office Unit 5 Acorn Business Park Moss Road Grimsby DN32 0LT 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 2024

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 2024.

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.

Objectives and Activities

Objects and Aims

The principal object of Nurtrio Limited ('Nurtrio') is to provide services for vulnerable people.

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

• The relief of those in need, by reason of youth, age, ill health, disability, financial hardship or other disadvantage.

• The relief of unemployment for the benefit of the public in such ways as may be thought fit, including assistance to find employment.

Nurtrio’s vision is to be at the forefront of social care, passionately dedicated to nurturing inclusive communities, advocating for equality, and delivering exceptional services. Our vision fully reflects the purposes that the charity was set up for.

Nurtrio’s Strategy 2023–2026 has been finalised and was formally launched at our open event on Friday 14 June.

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

• We have developed a Nurtrio annual work plan which is monitored on a quarterly basis.

• We have developed our performance management processes and now present a quarterly Performance Report to the Board of Trustees

• The Board of Trustees is now fully recruited to and are positively steering the direction of the Charity.

• In March 24 we relocated to Unit 5, Acorn Business Park and are reaping the benefits of open plan working.

• The Living our Lives supported living service was restructured in May 2023 and new rota, an integrated care management system is being incrementally introduced into both Living our Lives and Domiciliary Care regulated services during 2024-25.

• PASS, the direct payment support service, has continued to grow and is now providing services to both adults and children and is the only direct payment support provider using pre-payment cards for clients.

Page 2

NURTRIO LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Financial Review

Overall, income has decreased compared to the previous year which is due to:

• a reduction in donations and legacies income due to the donation recognised in the previous year for the value of net assets transferred by Navigo Extra Limited and Ace Homecare Limited; and

• a reduction in employment service income which is offset by a reduction in the corresponding payroll costs.

Policy on Reserves

The reserves policy at the charity is to hold funds between 4% and 16% of expenditure. Based on the 2023/24 results, this is between £225,402 and £901,610.

The total amount of reserves held at 31 March 2024 is £495,049 (2023 - £541,565). Included in the balance is £6,500 (2023 - £9,224) of restricted funds.

Of the total reserves, £50,838 (2023 - £64,954) 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 £444,211 (2023 - £476,611).

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.

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.

Page 3

NURTRIO LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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 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 £142,105 (2023 - £74,212).

Future Developments and Going Concern

Our intended future developments are as follows:

• To develop a Nurtrio Membership Board model.

• To strengthen the partnership between Nurtrio and its ‘parent company’ Navigo Health and Social Care CIC ('Navigo').

• To grow regulated services in partnership with Navigo and the Integrated Care Board.

• To develop a complimentary domiciliary care service for private customers.

• To further cement our reputation as a trusted local social care charity and provider in North East Lincolnshire; this aim will be supported by the fact that we are one of the Mayor’s chosen charities from May 2024–May 2025.

The trustees of the charity continue to be committed to maximizing the positive impact they make and furthering the charity's mission of making a difference in people's lives.

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:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent; and

• prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

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.

Page 4

NURTRIO LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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 16 August 2024 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 2024 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:

• give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

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:

• the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements.

• the Trustees' report has been prepared in accordance with applicable legal requirements.

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:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report.

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:

• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

• we identified the laws and regulations applicable to the company through discussions and from our commercial knowledge and experience of the company, the care sector in which it operates and the services it provides;

• we focused on specific laws and regulations, in particular those relevant to the provision of care services, which we considered may have a direct material effect on the financial statements or the operations of the charitable company, including the Companies Act 2006, taxation legislation, data protection, anti bribery, employment, environmental and health and safety legislation;

• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

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

• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

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:

• performed analytical procedures to identify any unusual or unexpected relationships;

• tested journal entries to identify unusual transactions;

• agreed a sample of income transactions to accurate recognition;

• verified the existence of the members and entities with which the charitable company has traded;

• reviewed accounting estimates and critical judgements; and

• tested a sample of employees for existence and accuracy of pay.

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

• agreeing financial statement disclosures to underlying supporting documentation;

• enquiring of management as to actual and potential litigation and claims; and

• reviewing correspondence with HMRC, relevant regulators and the charitable company's legal advisors.

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

2 September 2024

Page 9

NURTRIO LIMITED

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

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 (expenditure)/income before net losses on investments Net losses on investments Net movement in funds	Unrestricted funds 2024 £ 20,356 4,897,181 649,380 21,627 5,588,544 637,837 4,994,499 5,632,336 (43,792) - (43,792)	Restricted funds 2024 £ - - - - - - 2,724 2,724 (2,724) - (2,724)	Continuing operations 2024 £ 20,356 4,897,181 649,380 21,627 5,588,544 637,837 4,997,223 5,635,060 (46,516) - (46,516)	Total funds 2024 £ 20,356 4,897,181 649,380 21,627 5,588,544 637,837 4,997,223 5,635,060 (46,516) - (46,516)	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

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 2024

Note Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2024 £ 532,341 (43,792) 488,549	Restricted funds 2024 £ 9,224 (2,724) 6,500	Continuing operations 2024 £ 541,565 (46,516) 495,049	Total funds 2024 £ 541,565 (46,516) 495,049	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

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

The notes on pages 15 to 32 form part of these financial statements.

Page 11

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

BALANCE SHEET AS AT 31 MARCH 2024

Note Fixed assets Tangible assets 13 Current assets Stocks 14 Debtors 15 Cash at bank - client account Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets	5,435 534,739 142,105 365,418 1,047,697 (603,486)	2024 £ 50,838 50,838 444,211 495,049 495,049 495,049	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

Page 12

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

BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024

Note Charity funds Restricted funds 17 Unrestricted funds 17 Total funds	2024 £ 6,500 488,549 495,049	2023 £ 9,224 532,341
		541,565

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 16 August 2024 and signed on their behalf by:

A Waterhouse Chair of Trustees

The notes on pages 15 to 32 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 2024

Cash flows from operating activities Net cash received from / (used in) operating activities Cash flows from investing activities Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets Net cash provided by/(used in) 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 The notes on pages 15 to 32 form part of these financial statements	2024 £ 270,604 170 - 170 270,774 236,749 507,523	2023 £ (232,474) - (1,530) (1,530) (234,004) 470,753 236,749

Page 14

(A company limited by guarantee)

NURTRIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. General information

Nurttio Limited (the charity) is a company limited by guarantee incorporated in England and Wales and a registered charity. The charity's registered office is at Unit 5, Acorn Business Park, Moss Road, Grimsby, DN32 0LT. 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

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.4 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.

2.5 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.

2.6 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.

2.7 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.

2.8 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.

Page 16

(A company limited by guarantee)

NURTRIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.9 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.

2.10 Operating leases

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

2.11 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.

2.12 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.

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.

Page 17

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

4. Income from donations and grants

Unrestricted funds 2024 £ Donations Net Assets Transferred - Other Donations 1,717 1,717 Grants 18,639 Subtotal 18,639 20,356	Total funds 2024 £ - 1,717 1,717 18,639 18,639 20,356	Total funds 2023 £ 120,635 1,114 121,749
		16,492 16,492 138,241

5. Income from charitable activities

Unrestricted funds 2024 £ PASS 172,637 Meals on Wheels 527,540 Supported Living 3,278,913 Home Care 818,189 Housing Related Support 99,902 4,897,181	Total funds 2024 £ 172,637 527,540 3,278,913 818,189 99,902 4,897,181	Total funds 2023 £ 121,593 490,588 3,327,229 783,342 104,028 4,826,780

Page 18

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

6. Income from other trading activities

Income from non charitable trading activities

Unrestricted funds 2024 £ Employment Service 648,820 Payroll Services - Key Safes 560 649,380 7. Other incoming resources Unrestricted funds 2024 £ Other Incoming Resources 21,627	Total funds 2024 £ 648,820 - 560 649,380 Total funds 2024 £ 21,627	Total funds 2023 £ 912,156 23,319 1,238 936,713
		Total funds 2023 £ 15,978

Page 19

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8. Expenditure on raising funds

Other trading expenses

Unrestricted funds 2024 £ Other Employment Service Costs 288 Payroll Services - Key Safes 1,739 Staff Costs 635,810 637,837	Total funds 2024 £ 288 - 1,739 635,810 637,837	Total funds 2023 £ - 20,796 673 904,773 926,242

9. Analysis of expenditure by activities

PASS Meals on Wheels Supported Living Home Care Housing Related Support	Activities undertaken directly 2024 £ 110,951 532,321 2,912,552 790,766 88,080 4,434,670	Support costs 2024 £ 19,831 60,600 376,658 93,988 11,476 562,553	Total funds 2024 £ 130,782 592,921 3,289,210 884,754 99,556 4,997,223

Page 20

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. Analysis of expenditure by activities (continued)

PASS Meals on Wheels 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

Analysis of direct costs

Staff Costs Other Direct Costs Staff Costs Other Direct Costs	PASS 2024 £ 79,311 31,640 110,951	Meals on Wheels 2024 £ 272,846 259,475 532,321	Supported Living 2024 £ 2,843,303 69,249 2,912,552 Housing Related Support 2024 £ 83,270 4,810 88,080	Home Care 2024 £ 691,526 99,240
				790,766
				Total funds 2024 £ 3,970,256 464,414 4,434,670

Page 21

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Staff Costs Other Direct Costs Staff Costs Other Direct Costs	PASS 2023 £ 56,825 9,214 66,039	Meals on Wheels 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 2024

9. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff Costs Other Costs Staff Costs Other Costs Staff Costs Other Costs	PASS 2024 £ 10,677 9,154 19,831 PASS 2023 £ 7,859 6,026 13,885	Meals on Wheels 2024 £ 32,627 27,973 60,600 Meals on Wheels 2023 £ 31,707 24,312 56,019	Supported Living 2024 £ 202,791 173,867 376,658 Housing Related Support 2024 £ 6,179 5,297 11,476 Supported Living 2023 £ 214,176 164,885 379,061	Home Care 2024 £ 50,602 43,386
				93,988
				Total funds 2024 £ 302,876 259,677 562,553
				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 2024

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

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 2024 £ 10,500	Total funds 2023 £ 311,091 239,197 550,288
		2023 £ 9,000

11. Staff costs

Wages and salaries Social security costs Contribution to defined contribution pension schemes	2024 £ 4,522,698 305,983 80,261 4,908,942	2023 £ 4,724,652 320,316 81,607
		5,126,575

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

	2024	2023
	No.	No.
Total	270	310

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 £236,300 (2023 - £213,500).

Page 24

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

12. Trustees' remuneration and expenses

During the year, no trustees received any remuneration or other benefits (2023 - £NIL) .

During the year ended 31 March 2024, no trustee expenses have been incurred (2023 - £NIL) .

13. Tangible fixed assets

Motor vehicles £ Cost or valuation At 1 April 2023 30,130 Disposals (5,845) At 31 March 2024 24,285 Depreciation At 1 April 2023 22,635 Charge for the year 1,874 On disposals (5,152) At 31 March 2024 19,357 Net book value At 31 March 2024 4,928 At 31 March 2023 7,495 14. Stocks Finished goods and goods for resale	Fixtures and fittings £ 14,214 (7,258) 6,956 13,807 137 (7,258) 6,686 270 407	Computer equipment £ 67,583 - 67,583 36,025 8,863 - 44,888 22,695 31,558	Caravan £ 45,051 - 45,051 19,557 2,549 - 22,106 22,945 25,494 2024 £ 5,435	Total £ 156,978 (13,103) 143,875 92,024 13,423 (12,410) 93,037 50,838 64,954 2023 £ 6,208

Page 25

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. Debtors

Due within one year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 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	2024 £ 139,178 40,817 9,058 345,686 534,739 2024 £ 38,061 34,183 66,356 51,378 271,403 142,105 603,486 2024 £ 395 10,432 (395) 10,432	2023 £ 355,338 316,010 6,770 119,894 798,012 2023 £ 33,358 136,187 239,454 28,265 52,882 74,212 564,358 2023 £ 871 395 (871) 395

16. Creditors: Amounts falling due within one year

At the year-end, the charity had collected income in advance for a service user trip.

Page 26

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

17. Statement of funds

Statement of funds - current year

Unrestricted Funds General Funds Restricted Funds Garfield Weston LEP Grant Total of Funds	Balance at 1 April 2023 £ 532,341 3,699 5,525 9,224 541,565	Income £ 5,588,544 - - - 5,588,544	Expenditure £ (5,632,336) (1,619) (1,105) (2,724) (5,635,060)	Balance at 31 March 2024 £ 488,549
				2,080 4,420 6,500
				495,049

Restricted Funds:

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 27

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

17. Statement of funds (continued)

Statement of funds - prior year

Unrestricted Funds General Funds Restricted Funds Garfield Weston LEP Grant Total of 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

18. Summary of funds

Summary of funds - current year

General funds Restricted funds	Balance at 1 April 2023 £ 532,341 9,224 541,565	Income £ 5,588,544 - 5,588,544	Expenditure £ (5,632,336) (2,724) (5,635,060)	Balance at 31 March 2024 £ 488,549 6,500 495,049

Page 28

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18. Summary of funds (continued)

Summary of funds - prior 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

19. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted funds 2024 £ Tangible fixed assets 44,338 Current assets 1,047,697 Creditors due within one year (603,486) Total 488,549 Analysis of net assets between funds - prior period Unrestricted funds 2023 £ Tangible fixed assets 55,730 Current assets 1,040,969 Creditors due within one year (564,358) Total 532,341	Restricted funds 2024 £ 6,500 - - 6,500 Restricted funds 2023 £ 9,224 - - 9,224	Total funds 2024 £ 50,838 1,047,697 (603,486) 495,049
		Total funds 2023 £ 64,954 1,040,969 (564,358) 541,565

Page 29

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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

Net income/expenditure for the period (as per Statement of Financial Activities) Adjustments for: Depreciation charges Amortisation charges Loss on disposal of investment Loss on the sale of intangible / tangible fixed assets Decrease/(increase) in stocks Decrease/(increase) in debtors Increase in creditors Net book value of tangible fixed assets transferred Net cash provided by/(used in) operating activities 21. Analysis of cash and cash equivalents Cash at bank and in hand Client monies held Total cash and cash equivalents 22. Analysis of changes in net debt	2024 £ (46,516) 13,423 - - 523 773 263,273 39,128 - 270,604 2024 £ 365,418 142,105 507,523	2023 £ 17,323
		15,884 1,926 83,125 8,577 (2,664) (492,568) 148,708 (12,785)
		(232,474)
		2023 £ 162,537 74,212
		236,749

	At 1 April		At 31 March
	2023	Cash flows	2024
	£	£	£
Cash at bank and in hand	162,537	202,881	365,418
Cash at bank - client account	74,212	67,893	142,105

Page 30

NURTRIO LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

23. 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 £80,261 (2023 - £81,606). £17,227 (2023 - £15,914) were payable to the fund at the balance sheet date and are included in creditors.

24. Operating lease commitments

At 31 March 2024 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	2024 £ 26,252 71,758 98,010	2023 £ 6,628 2,617
		9,245

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

	2024	2023
	£	£
Operating lease rentals	6,912	6,975

25. 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 £1,385,587 (2023 - £1,799,966). The balance owed by Navigo Health and Social Care CIC at the yearend was £40,817 (2023 - £316,010).

In addition, the charity received gross invoices from Navigo Health and Social Care CIC totalling £120,656 (2023 - £140,886). The total balance owed to Navigo Health and Social Care CIC at the yearend was £34,183 (2023 - £136,187).

Page 31

NURTRIO LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

26. 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 32