Registered number: 06204479 Charity number: 1146255
NURTRIO LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
NURTRIO LIMITED
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 6 |
| Independent auditors' report on the financial statements | 7 - 10 |
| Statement of financial activities | 11 |
| Balance sheet | 12 |
| Statement of cash flows | 13 |
| Notes to the financial statements | 14 - 29 |
NURTRIO LIMITED
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025
| Trustees | S Beeton |
|---|---|
| R Brewin | |
| 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 2025
The trustees present their annual report together with the audited financial statements of the charity for the year 1 April 2024 to 31 March 2025. The Annual report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
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:
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The relief of those in need, by reason of youth, age, ill health, disability, financial hardship or other disadvantage.
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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 in June 2024.
In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
a. Main achievements of the charity
We are developing a membership model within Nurtrio and have set up a staff Membership Group.
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Digital systems have become embedded within Living our Lives supported living services and domiciliary care services and include a rostering system and an integrated care planning system.
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We have developed a robust partnership with a regional Registered Social Landlord who purchase houses to meet the specific requirements of people who we support in Living our Lives supported living service.
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A number of service users with learning disabilities who we support through Living our Lives have been enabled to enjoy holidays including a trip to Disneyland Paris.
Page 2
NURTRIO LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Achievements and performance (continued)
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We were successful in our application to be part of the North East Lincolnshire Community Living Services Framework which is of 5 years duration with an option to extend to 7 years.
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We have continued to develop a positive relationship with the North East Lincolnshire Health and Care Partnership/Humber and North Yorkshire Integrated Care Board.
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A North East Lincolnshire Care Association has been set up and the Nurtrio CEO sits as a director.
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We have embarked on a partnership project with Navigo focussing on the development of Children’s Residential Services.
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We have developed a range of staff benefits including monthly Making a Difference Awards, Annual Staff Awards and birthday leave as an additional to annual leave.
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PASS, the direct payment support service, has continued its incremental growth, providing services to both adults and children and is the only direct payment support provider using pre-payment cards for clients.
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We have been one of the Mayor of North East Lincolnshire's chosen charitues for the year and have supported fundraising events including a walking marathon.
Financial review
a. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
Nurtrio has ended the year with a surplus of £58,652 compared with a deficit position of £46,516 in 2024.
Overall, income has increased compared to the previous year to £6,173,289 (2024: £5,588,544). This is due to:
-
An increase in employment service income of £98,000
-
An increase in domiciliary care income of £28,000 (commissioned) and £70,000 (private)
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An increase in supported living income of £264,000
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An increase in PASS income of £50,000
Expenditure has increased by £479,000 to £6,114,637, compared to the previous year (2024: £5,635,060). This increase reflects the increased staffing costs to deliver the increase in services income detailed above.
The reserves policy at the charity is to hold funds between 8% and 25% of expenditure. Based on the 2024/25 results, this is between £489,000 and £1,529,000.
The total amount of reserves held at 31 March 2025 is £553,701 (2024: £495,049). Included in the balance is £5,724 (2024: £6,500) of restricted funds.
Of the total reserves, £49,792 (2024: £50,838) can only be realised by disposing of fixed assets.
Page 3
NURTRIO LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
The total amount of free reserves, being total funds less restricted funds and fixed assets acquired from unrestricted funds, is £501,721 (2024: £444,211).
Reserves are held in line with the policy.
Structure, governance and management
a. Constitution
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.
b. Methods of appointment or election of trustees
The management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the Memorandum of Association.
c. Organisational structure and decision-making policies
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.
d. Policies adopted for the 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.
e. Pay policy for key management personnel
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.
f. Financial 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 exposure to the major risks.
Page 4
NURTRIO LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Plans for future periods
Our intended future developments are as follows:
-
To further develop the Nurtrio Membership model.
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To strengthen the partnership between Nurtrio and its ‘parent company’ Navigo Health and Social Care CIC ('Navigo').
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To incrementally grow Domiciliary Care, Living our Lives supported living services and PASS (Direct Payment Support Service)
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To develop a complimentary domiciliary care service for private customers.
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To open our first Children’s Residential Home in partnership with Navigo CIC.
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To proactively develop our marketing and external communications in order further cement our reputation as a trusted local social care charity and provider in North East Lincolnshire.
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To further develop our infrastructure ensuring that it is adequately resourced to support future growth
The trustees have reviewed the forecast financial position for 2025-26 and are of the view that the charity is a going concern. 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.
Funds held as custodian
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 £197,846 (2024: £142,105).
Statement of trustees' responsibilities
The trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 5
NURTRIO LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Disclosure of information to auditors
Each of the persons who are trustees at the time when this Trustees' report is approved has confirmed that:
-
so far as that trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
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that trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, Streets Audit LLP, have indicated their willingness to continue in office. The designated trustees will propose a motion reappointing the auditors at a meeting of the trustees.
Approved by order of the members of the board of trustees on 15 September 2025 and signed on their behalf by:
................................................ Ze one A Waterhouse (Chair of Trustees)
Page 6
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 2025 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 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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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 7
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:
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the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements.
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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:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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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 8
(A company limited by guarantee)
NURTRIO LIMITED
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:
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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;
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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;
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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, Charities Act 2011, CQC regulations, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
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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:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
Page 9
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:
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performed analytical procedures to identify any unusual or unexpected relationships;
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tested journal entries to identify unusual transactions;
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agreed a sample of income transactions to accurate recognition;
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verified the existence of the members and entities with which the charitable company has traded;
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reviewed accounting estimates and critical judgements; and
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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:
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agreeing financial statement disclosures to underlying supporting documentation;
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enquiring of management as to actual and potential litigation and claims; and
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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
3 October 2025
Page 10
NURTRIO LIMITED
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025
| Note Income from: Donations and grants 3 Charitable activities 4 Other trading activities 5 Other income 6 Total income Expenditure on: Raising funds 7 Charitable activities 8 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 18,774 5,342,059 748,587 44,824 6,154,244 733,737 5,361,079 6,094,816 59,428 488,549 59,428 547,977 |
Restricted funds 2025 £ 19,045 - - - 19,045 - 19,821 19,821 (776) 6,500 (776) 5,724 |
Total funds 2025 £ 37,819 5,342,059 748,587 44,824 6,173,289 733,737 5,380,900 6,114,637 58,652 495,049 58,652 553,701 |
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) 541,565 (46,516) 495,049 |
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 14 to 29 form part of these financial statements.
Page 11
NURTRIO LIMITED
(A company limited by guarantee) REGISTERED NUMBER: 06204479
BALANCE SHEET AS AT 31 MARCH 2025
| 2025 | 2025 | 2024 | ||||
|---|---|---|---|---|---|---|
| Note | £ | £ | ||||
| Fixed assets | ||||||
| Tangible assets | 12 | 49,792 | 50,838 | |||
| 49,792 | 50,838 | |||||
| Current assets | ||||||
| Stocks | 13 | 4,619 | 5,435 | |||
| Debtors | 14 | 516,969 | 534,739 | |||
| Cash at bank - client account | 197,846 | 142,105 | ||||
| Cash at bank and in hand | 428,012 | 365,418 | ||||
| 1,147,446 | 1,047,697 | |||||
| Creditors: amounts falling due within one | ||||||
| year | 15 | (643,537) | (603,486) | |||
| Net current assets | 503,909 | 444,211 | ||||
| Total assets less current liabilities | 553,701 | 495,049 | ||||
| Total net assets | 553,701 | 495,049 | ||||
| Charity funds | ||||||
| Restricted funds | 16 | 5,724 | 6,500 | |||
| Unrestricted funds | 16 | 547,977 | 488,549 | |||
| Total funds | 553,701 | 495,049 |
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 15 September 2025 and signed on their behalf by:
................................................ JEM A Waterhouse (Chair of Trustees)
The notes on pages 14 to 29 form part of these financial statements.
Page 12
NURTRIO LIMITED
(A company limited by guarantee)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025
| 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 (used in)/provided by investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notes on pages 14 to 29 form part of these financial statements |
2025 £ 128,242 2,740 (12,647) (9,907) 118,335 507,523 625,858 |
2024 £ 270,604 |
|---|---|---|
| 170 - |
||
| 170 | ||
| 270,774 236,749 |
||
| 507,523 | ||
Page 13
(A company limited by guarantee)
NURTRIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. General information
Nurtrio 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 14
(A company limited by guarantee)
NURTRIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
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 15
NURTRIO LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
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. Income from donations and grants
| Donations Grants Total 2025 Total 2024 |
Unrestricted funds 2025 £ 451 18,323 18,774 20,356 |
Restricted funds 2025 £ - 19,045 19,045 - |
Total funds 2025 £ 451 37,368 37,819 20,356 |
Total funds 2024 £ - 18,639 |
|---|---|---|---|---|
| 20,356 | ||||
Page 16
NURTRIO LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. Income from charitable activities
| PASS Meals on Wheels Supported Living Home Care Housing Related Support Total 2025 5. Income from other trading activities Income from non charitable trading activities |
Unrestricted funds 2025 £ 223,375 528,497 3,543,555 916,200 130,432 5,342,059 |
Total funds 2025 £ 223,375 528,497 3,543,555 916,200 130,432 5,342,059 |
Total funds 2024 £ 172,637 527,540 3,278,913 818,189 99,902 |
|---|---|---|---|
| 4,897,181 | |||
| Employment service Key Safes Total 2025 6. Other incoming resources Other incoming resources |
Unrestricted funds 2025 £ 747,428 1,159 748,587 Unrestricted funds 2025 £ 44,824 |
Total funds 2025 £ 747,428 1,159 748,587 Total funds 2025 £ 44,824 |
Total funds 2024 £ 648,820 560 |
|---|---|---|---|
| 649,380 | |||
| Total funds 2024 £ 21,627 |
Page 17
(A company limited by guarantee)
NURTRIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
7. Expenditure on raising funds
Other trading expenses
| Unrestricted funds 2025 £ Other employment service costs - Key Safes 1,201 Staff costs 732,536 Total 2025 733,737 |
Total funds 2025 £ - 1,201 732,536 733,737 |
Total funds 2024 £ 288 1,739 635,810 |
|---|---|---|
| 637,837 |
8. Analysis of expenditure by activities
| PASS Meals on Wheels Supported Living Home Care Housing Related Support Total 2025 Total 2024 |
Activities undertaken directly 2025 £ 134,332 557,997 3,081,868 893,057 106,577 4,773,831 4,434,670 |
Support costs 2025 £ 25,329 59,928 403,130 103,892 14,790 607,069 562,553 |
Total funds 2025 £ 159,661 617,925 3,484,998 996,949 121,367 5,380,900 4,997,223 |
Total funds 2024 £ 130,782 592,921 3,289,210 884,754 99,556 |
|---|---|---|---|---|
| 4,997,223 | ||||
Page 18
NURTRIO LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs Other direct costs Total 2025 Total 2024 Staff costs Other direct costs Total 2025 Total 2024 Analysis of support costs Staff costs Other costs Total 2025 Total 2024 |
PASS 2025 £ 96,601 37,731 134,332 110,951 PASS 2025 £ 13,707 11,622 25,329 19,831 |
Meals on Wheels 2025 £ 293,827 264,170 557,997 532,321 Housing Related Support 2025 £ 102,695 3,882 106,577 88,080 Meals on Wheels 2025 £ 32,431 27,497 59,928 60,600 |
Supported Living 2025 £ 3,001,153 80,715 3,081,868 2,912,552 Total funds 2025 £ 4,285,472 488,359 4,773,831 4,434,670 Supported Living 2025 £ 218,159 184,971 403,130 376,658 |
Home Care 2025 £ 791,196 101,861 |
|---|---|---|---|---|
| 893,057 | ||||
| 790,766 | ||||
| Total funds 2024 £ 3,970,256 464,414 |
||||
| 4,434,670 | ||||
| Home Care 2025 £ 56,222 47,670 |
||||
| 103,892 | ||||
| 93,988 |
Page 19
NURTRIO LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. Analysis of expenditure by activities (continued)
Analysis of support costs (continued)
| Housing Related Support 2025 £ Staff costs 8,004 Other costs 6,786 Total 2025 14,790 Total 2024 11,476 Auditors' remuneration Fees payable to the charity's auditor for the audit of the charity's annual accounts |
Total funds 2025 £ 328,523 278,546 607,069 562,553 2025 £ 11,000 |
Total funds 2024 £ 302,876 259,677 |
|---|---|---|
| 562,553 | ||
| 2024 £ 10,500 |
9. Auditors' remuneration
Page 20
(A company limited by guarantee)
NURTRIO LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
10. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2025 £ 4,909,899 349,622 87,010 5,346,531 |
2024 £ 4,522,698 305,983 80,261 |
|---|---|---|
| 4,908,942 |
The average number of persons employed by the charity during the year was as follows:
| 2025 | 2024 | |
|---|---|---|
| No. | No. | |
| Total | 278 | 270 |
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 £242,325 (2024: £236,300).
11. Trustees' remuneration and expenses
During the year, no trustees received any remuneration or other benefits (2024 - £NIL) .
During the year ended 31 March 2025, no trustee expenses have been incurred (2024 - £NIL) .
Page 21
NURTRIO LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
12. Tangible fixed assets
| Cost At 1 April 2024 Additions Disposals At 31 March 2025 Depreciation At 1 April 2024 Charge for the year On disposals At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 |
Motor vehicles £ 24,285 - (17,535) 6,750 19,357 1,036 (15,795) 4,598 2,152 4,928 |
Fixtures and fittings £ 6,956 - - 6,956 6,686 137 - 6,823 133 270 |
Computer equipment £ 67,583 12,647 - 80,230 44,888 8,484 - 53,372 26,858 22,695 |
Caravan £ 45,051 - - 45,051 22,106 2,296 - 24,402 20,649 22,945 |
Total £ 143,875 12,647 (17,535) 138,987 93,037 11,953 (15,795) 89,195 49,792 50,838 |
|---|---|---|---|---|---|
13. Stocks
Finished goods and goods for resale
| 2025 | 2024 |
|---|---|
| £ | £ |
| 4,619 | 5,435 |
Page 22
NURTRIO LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
14. Debtors
| Due within one year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income |
2025 £ 362,710 58,833 5,060 90,366 516,969 |
2024 £ 139,178 40,817 9,058 345,686 |
|---|---|---|
| 534,739 |
15. 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 |
2025 £ 32,765 7,875 96,745 47,851 260,455 197,846 643,537 2025 £ 10,037 - (10,037) - |
2024 £ 38,061 34,183 66,356 51,378 271,403 142,105 |
|---|---|---|
| 603,486 | ||
| 2024 £ - 10,432 (395) |
||
| 10,037 |
At the previous year end, the charity has collected income in advance for a service user trip. At the 31 March 2025 there were no resources deferred.
Page 23
NURTRIO LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
16. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds Restricted funds MOW Hospital Discharge Garfield Weston LEP Grant Total of Funds |
Balance at 1 April 2024 £ 488,549 - 2,080 4,420 6,500 495,049 |
Income £ 6,154,244 19,045 - - 19,045 6,173,289 |
Expenditure £ (6,094,816) (16,857) (2,080) (884) (19,821) (6,114,637) |
Balance at 31 March 2025 £ 547,977 |
|---|---|---|---|---|
| 2,188 - 3,536 |
||||
| 5,724 | ||||
| 553,701 |
Restricted Funds:
MoW Hospital Discharge grant - grants received to provide meals to patients discharged from hospital.
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 24
NURTRIO LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
16. 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 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 |
17. Summary of funds
Summary of funds - current year
| General funds Restricted funds |
Balance at 1 April 2024 £ 488,549 6,500 495,049 |
Income £ 6,154,244 19,045 6,173,289 |
Expenditure £ (6,094,816) (19,821) (6,114,637) |
Balance at 31 March 2025 £ 547,977 5,724 |
|---|---|---|---|---|
| 553,701 |
Page 25
NURTRIO LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
17. Summary of funds (continued)
Summary of funds - prior 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 |
18. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2025 £ Tangible fixed assets 46,256 Current assets 1,145,258 Creditors due within one year (643,537) Total 547,977 Analysis of net assets between funds - prior year Unrestricted funds 2024 £ Tangible fixed assets 44,338 Current assets 1,047,697 Creditors due within one year (603,486) Total 488,549 |
Restricted funds 2025 £ 3,536 2,188 - 5,724 Restricted funds 2024 £ 6,500 - - 6,500 |
Total funds 2025 £ 49,792 1,147,446 (643,537) 553,701 Total funds 2024 £ 50,838 1,047,697 (603,486) 495,049 |
|---|---|---|
Page 26
NURTRIO LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
19. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/expenditure for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Dividends, interests and rents from investments Profit on disposal of intangible / tangible fixed assets Decrease in stocks Decrease in debtors Increase in creditors Bad debts Net cash provided by operating activities 20. Analysis of cash and cash equivalents Cash at bank and in hand Client monies held Total cash and cash equivalents 21. Analysis of changes in net debt At 1 April 2024 £ Cash at bank and in hand 365,418 Cash at bank - client account 142,105 |
2025 2024 £ £ 58,652 (46,516) 11,953 13,423 (6,694) - (240) 523 816 773 17,770 263,273 39,430 39,128 6,555 - 128,242 270,604 2025 2024 £ £ 428,012 365,418 197,846 142,105 625,858 507,523 Cash flows At 31 March 2025 £ £ 62,594 428,012 55,741 197,846 |
|---|---|
Page 27
NURTRIO LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
22. 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 £87,010 (2024: £80,261). £21,983 (2024: £17,227) were payable to the fund at the balance sheet date and are included in creditors.
23. Operating lease commitments
At 31 March 2025 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 |
2025 £ 34,313 36,124 70,437 |
2024 £ 26,252 71,758 |
|---|---|---|
| 98,010 |
The following lease payments have been recognised as an expense in the Statement of financial activities:
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Operating lease rentals | 6,912 | 6,975 |
24. 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 £1,566,900 (2024: £1,385,587). The balance owed by Navigo Health and Social Care CIC at the year-end was £58,833 (2024: £40,817).
In addition, the charity received gross invoices from Navigo Health and Social Care CIC totalling £54,073 (2024: £120,656). The total balance owed to Navigo Health and Social Care CIC at the year-end was £7,875 (2024: £34,183).
Page 28
NURTRIO LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
25. 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 29