Charity No. 1146771 and 1146771-1 Company No. 07921722 THE ROSSENDALE TRUST LIMITED and The Rossgndale Trust incorporatlng the Hovls Pleasance LINKED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE ROSSENDALE TRUST LIMITED and The Rossendale Trust Incorporating the Hovis Pleasance Llnked Financial Statements for the ear ended 31 March 2024. Contgnts Page Reference and Administration Report of the Trustees 2-13 Report of the Auditors 14-16 ststement of Financial Activities 17 Balance Sheet 18 Statement of Cash Flows 19 Notes forming part of the financial statements 20-29
THE ROSSENDALE TRUST LIMITED and The Rossendale Trust incorporatlng the Hovis Pleasance Linked Financial Statements for tho ear ended 31 March 2024 Reference and Admlnlstratlon Inforniation Patron David Rutley - Member of Parliament Hon Presldent Moira Beswick (appointed 2P November 2023) Trustees A Schofield - Chairperson (appointed 27th November 2023) R Bevan - (appointed 8th March 2024} M Goddard A Gregory - (Resigned 27 November 2023) M Ha00d S Homewood T O'Keefe I Poynton A Richards J Rockett J Ward Key Management Personnel S Nichols A Wright J Roberts-smrth S Heaven W Elwood S Potts L Coales K D¢)wning J Blythe C Gillespie Z Williams Chief Executive Registered Manager and Head of Supported Living Head of HR and Training Head of PR & Fundraising and Secretary to Trustees Senior Finance Manager Business Strategy Manager Quality and Compliance Manager IT, Brand and Communications Manager Day Services Manager WorkTaste Manager Family Liaison Officer Rogisterod Office Rossendale Hall Hollin Lane Sutton Macclesfield heshire SK11 OHR Charlty Number 1146771 The Rossendale Trust Limited 1146771-1 The Rossendale Trust Endowed Charity Company Number 07921722 Auditorn - TBG Bright LLP Bankers Barclays Bank Sollcltors SAS Daniels Page 1
THE ROSSENDALE TRUST LIMITED and The Rossendale Trust incorporating the Hovis Pleasance Llnked Flnancial Statements for the ear ended 31 March 2024 The Trustees are pleased to present their annual directors, report together with summary financial ststements of the charity for the year ending 31 March 2024 which are also prepared to meet the requirements for a director's report and accounts for Companies, Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006. the Memorandum and Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Repo.ng Stsndard for applicable in the UK and Republic of Ireland IFRS 102). Reference and Admlnlstratlon Informatlon Patron David Rutley - Member of Parliament Hon President - M Beswick Tru8tees who served during the yèar A Schofield - Chairperson from 27 November 2023 M Beswick - Chairperson to 271h November 2023 R Bevan M Goddard A Gregory M Hanwood S Homewood T O'Keefe I Poynton A Richards J Rockett J Ward Chalrnian's Report As Chair of the board, l am proud to play a leading role in a local charity that provides a great service for our tenants, unmatched services to our external users and provides an inclusive and supportive place to work for our amazing and dedicated staff. It has been yet another busy year, the external activities provided by the Oakwood and WorkTaste teams continue to grow and represent the Rossendale Trust in a glowing light whilst out in the community. We believe that the breadth and accessibility of the sep4ices we provide not onty meets the needs of our Trust tenants, but of extemal attendees to our day -service. We pride ourselves on our tenant forum and the ability to make all our services tenant and service user led. We maintained our rating of "GOOD. throughout the 2023-2024 financial year with our gulator- the Care Quality Commission, and we continue to provide high quality care for over seventy people in the Macclesfield and Buxton are8s. The Trust is currently undertaking several strategic initiatives for the future in developing our medium- term plans. A great example of the Trusts. development is our investment, and staff training, in technology. Our digital PASS system has transfonmed the way our staff work with our tenants, making administration easier and providing a much safer way of working. Page 2
THE ROSSENDALE TRUST LIMITED and The Rossendale Trust incorporating the Hovis Pleasance Linked Financial Statements for the ear ended 31 March 2024 Our portfolio of properties in Macclesfield, has enabled the Trust to build our tenant base for people wilh a le8rning disability. This is an exlIent way of organically supporting the ongoing needs of our sector and enabling us to promote our business model. Our fundraising events during the year 2023-2024 encompassed several successful ventures including the 501h Anniversary Ball, London Marathon, the Rossendale Annual Fete, our Ladies Lunch, the Annual Tea Party, and the Annual Fashion Show. These events brought in a very rewarding amount of money, essential in maintaining the quality and range of our services in an environment that continues to be financially challenging. We are also always conscious of the wonderful donations and le9acies that we receive in addition to regular fund ralsing. From a financial perspective, the environment has, yet again, been challenging, with very restricted funding from our commissioned serrfices. However, as usual we have received great and welcome support from our invaluable benefactors- Trusts. Companies, Partnerships, and individuals, many of them loGal supporters. I would like to take thi5 Opportunity to thank my fellow Trustee Board members (we have had three new Trustees join us since my last report) for their commitment and support over the last twelve months and on behalf of the Board we would like to sincerely thank our staff who care so passionately for our tenants and external attendees, We must also thank everyone in the community who continues to support the Trust in so many ways. Adam Schofleld- Chalr of frustses. Hlstory Governance and Objectiv•8 of the Trust Rossendale Trust was created under a Trust Deed date 2nd July 1975. It was originally founded in 1973 and is a lasting testimony to the generosity of the Chapman and Hyde families who purchased Rossendale Hall as their home and then kindly donated the Hall to the Trust. The first guests arrived In the purpose-built short stay unit in 1976. Since then, Rossendale Trust has grown to provide residential care now superseded by Supported Living and day care services in Sutton, Macclesfield, and Buxton. In 2008 the administration of Rossendale Trust and Hovis Pleasance was amalgamated to operate as one scheme. In conjunction with the route taken by many other charities. in 2012, the Trust decided to move to corporate ststus and became a company limited by guarantee {CLG). However, due to specie land being held in the old charity, it was necessary for the Twst to maintain the two separate charities. The Rossendale Trust Ltd {1146771) is the corporate trustee of Rossendale Trust {1146771-1) and the objectives and purpose of each charity is essentially the same. The Trust has an annual income and expenditure in the gion of £5.8 million <top 3% of UK charities) and over two hundred staff providing care and support to tenants living in shared apartments and houses. We also provide a day activity service (Oakwoodl to one hundred adults, both tenants of the Trust and people from the wider community, offering a wide range of activities including Arts & Crafts, Media, Horticulture, Music, Swimming and Walking. This seryice runs alongside our inclusNe employment programme, WorkTaste, which supports many local individuals who have a learning disabilty or are on the Autistic spectrum, to gain valuable work based experience towards employment. The 'baseline' care needs of our tenants are funded by our commissioners, (predominantly Cheshire East Council and Derbyshire County Council), out of which we must pay our staff and other direct expenses. In line with most independent providers, the Trust works in a difficult financial environrnent. Govemment constraints are proving unhelpful, most of our incorrE streams come from Local authority commissioned seniices. Page 3
THE ROSSENDALE TRUST LIMITED and The Rossendale Trust Incorporating the Hovis Pleasance Linked Financial Statéments for the ear ended 31 March 2024 The Trust has received inad8qU8te support from our main commissione(I services provider in recent years. which has put additsonal pressure on our finan$ and also the ability to attract and retain staff and compete against the increasing National Living Wage. This is reflected in the very tough finanGial year experienced in 2023-2024 with a k)ss of circa £321 k. Fortunately we have built up strong reserves over recent years whith has given us a good level of protection. Further support to the business has been shown by the loyalty generated by our talented and dedicated workforce. Their Ioy81ty and commrtment have not diminished and has enabled the Trust to still maintain the provision of a first-dass service. Importantly. we must also acknow18dge the wonderful support we receive from grant making Trusts, companies, partnerships and individuals. much of which is on an ongoing annual basis and includes a great contribution from local supporters. They make a massive difference to our tenant activities and the important projects which enhan their daily lives. The additional rental income streams from our owned properties also assist our financial position. MIs8lon and Values of Rossendale Trust The Trusl has Mlsslon Statements and Core Values for the threo prlmary business areas: . Our Supported Llvlng Mission is Empowering people with disabilities to live with choice and ownership Our Oakwood Day Servlee MIs8lon - Providing soclal and eng8glng opportunities for people with disabilities Our WorkTast• Mi88ion - Enabling people with disabilities to gain access to the world of work. The above ststem•nts are supported by our Core Values: _ Warm - The Trust is a homely environment where everyone feels welcome and well supported. Incluslve - The Trust provides an incluslve environment wherè oPle of all backgrounds can come together and feel valued, Respecttul - We respect and appreciate others for their individual beliefs, passions. goals and choices whilst embracing person<entred care. In addilion, we a sponSible for setting the highest standards of care under the guidance and framework set down by the Care Quality Commission under the following attributes: . SAFE - by safe, we mean that people are protected from abuse and avoidable harm. 2 CARING - by caring, we mean that the stsff treat people with compassion, kindness. dignity and spect. 3 RESPONSIVE - by responsive, we mean that the services we provide are designated to meet people's needs. EFFECTIVE -by effective. we mean that people's care, treatment and support achieve good outcomes, promotes a good quality of life and based on best available evidence. 5 WELL LED - by well led, we mean that the leadership, man8gement. and governance of the organisation assures the delivery of highquality, person<entred care, supports learning and innovation and promotes an open and fair culture Page 4
THE ROSSENDALE TRUST LIMITED and The Rossendale Trust incorporating the Hovis Pleasance Linked Financial Statements for the ear ended 31 March 2024 Executive Summary 2023-2024 Very difficult economic and local market conditions continued in the financial year 2023-2024 and adversely impacted our financial position. The continued lack of appropriate support from local commissioned seniices has resulted in a loss of circa £321 k in this financial period. However, it did not affect the successful running of the business and the delivery of high quality care to all our tenants and day- service users. Financial year 2024-2025 is continuing to be a challenge but we are operating with a small surplus (unaudited) in the first six months to Seplember 2024. Strong Care Quallty Commission R8portlng dolivorad throughout 202&2024. A successful achievement throughout this year was the regular reviews and updates undertaken by our regulator on the performance of the Trust. As in the previous rewrting period the Charity scored 'GOOD" in all five categones on a consistenl basis. The charity was also awarded the prestigious Princess Royal Trust UK Training Award for 2023. This national award was given to only forty-seven businesses and highlights the quality of training being delivered by the management learn and staff. The Trust introduced a number of new InittiveS during 2023 -2024 highlighted belr)W: The PASS project was implemented to improve the quality, efficiency and safety of care delivery by using an online digital care management platform for support staff and managers. This will eliminate time-consuming papefwork and reduce the risk of medicines mismanagement. It will also allow live data observationlhistoric d8ts trends and analysis and the backing up of all support data and safeguarding data security. A new HR and training database is being incorporated into the business model to improve rostering functionality. The new system, selected after extensive market search and analy818, will provide greater stability, security, accuracy and user efficiency. Product migration is ongoing. The SharePoint structure has been redesigned to incorporate security enhancements and make clearer, more efficient spaces ft)r managers and 8dministrats.on staff to work within. The Trust implemented a cyber security platform for learning and security of its core IT users, incorporating yearly and weekly learning, live phishing simulations, live dark web scanning and benchmarking the Trust with other org8nisations. The Trust Identified the need and began phase two of the telephony and communications update of the Head Office site using Teams telephony. Updated the Trust's challenge of its rural location in terms of internet connectivity by installing a leased line ensuring the Trust can use up to date connections with all its digital platforms. A rebranding of the Rossendale Trust was undertaken and was identified as a key initiats've in developing the Trust's public presence, This will enhance our ability to attract staff, funders, and stakeholders to support the ongoing day to day and futu operations of the Trust. Also helping to maintain and extend our top 30/0 of UK charities, status. Page 5
THE ROSSENDALE TRUST LIMITED and The Rossendale Trust Incorporatlng the Hovis Pleasance Linked Financial Ststements for the ear ended 31 March 2024 The Trust have organised a Tenants Forum every quarter and also introduced a Tenants Guide to keep them up to date with the latest developments at the Trust. The tenants also play a major role in the Annual Fashion Show, Tenant and Staff Xmas Parties and intep4iewing prospective new staff members. Further development of WorkTaste - our supported employment project, a Trust initiative enabling more individuals to experience a real work setting within the local cornmunity. This has been an outstanding success and excellently supported by a range of local employers. Additional purchases of properties in Macdesfield in recent years have assisted in the expansion of our service to ten new users who have learning disabilities within the local area. This has brought in additional critical income A strong mandatory training programme, financial educational support, and stsff benefits package - all of which assist in recruiting and retaining good quality employees. Employee levels are holding up well, despite the difficults'es within the care sector with low levels of sickness and turnover by industry standards. Membership of Voluntary Organisation Disability Group, National Council of Voluntary Organisations and Learning Disability England, all of whom promote the independence of people with learning disabilities. • A strong balance sheet with turnover at £5.8m and_total assets of £2.4m. (compared to tumover of £2.7m and assets of £1,7m fve years previously). Long term capital assets support the Trust's balan sheet and sustainability for the future. We continue to develop a clear strategy regarding the Supported Living Model and benefiting the local community Ro88•ndale Trust - Flnanclal performance 2023 - 2024 There were very difficult economic conditions for all charities across the UK and especially those operating in the adult SOCI81 care sector. The financial year to 31 March 2024 was very tough with the Trust receiving continued inadequate support from our main commissioned seNice provider. Cheshire East. This was reflected in a very low hourly rate compared to other local authorities. Importantly, the Trust did continue to improve the sakries and benefits packages of our staff, also ensuring that all staff receive an hourly rate above the National Living Wage. From a Linked charity perspective, the Rossendale Trust charlty had a difficult year in reporting an operating loss of £321.07412023 - loss of £128,386) Additional income from fundraising and investments, legacies and other activits'es was £248,361 and investment income £270,872 {2023- £228,137 and £240,485 respectively). Generous contributions were received throughout the financial year ending 31 st March 2024 from a wide range of supporters. Fundraising included support from the 501h Anniversary Ball. the Fashion Show, Ladies Lunches. London Marathon, Macclesfield Half Marathon, The Manchester 1 Ok and The Rossendale Annual Fete. Future fundraising activity will continue to be a critiGal comerstone in the futu success of the Charity. Extemal support from grant making trusts, corporate bodies and individuals is paramount in financing projecis to improve the wellbeing of individuals within the Trust and for us to improve our facilities and build for the future. In line with risk management guidelines, corporate govemance, and financial stability, it is always the Trust's twin aim to look after the staff and continue to build a solid platform of reserves and liquidity. Page 6
THE ROSSENDALE TRUST LIMITED and The Rossendale Trust Incorporating the Hovls Pleasance Linked Financial Statements for the ear ended 31 March 2024 Receipt of Car• Fees and Care Resource Expenditure The cost of care exceeded the income received £570,777 compared to the previous year where there was a deficit of £415.427 There was an increase in fee income to £ 5.300.432 (2023 - £4,725,333) this was radically offset by the increase in care delivery costs amounting to £5,970.069 (2023- £5.241,978) including salary increases to retain our valuable workforce. The bulk of costs re18ted to staffing which were £5,452,217 (2023 - £4,650,334). Total care expenditure included other direct and support costs of £614,821 (2023 - £562,346) and govemance costs of £33,134 (2023 -£29,298). Future Flnanclal Stablllty The financial year 2023-24 has been difficult. due to the cumulative shortage of financial support from the commissioned services and the need to lelain and improve stsffing levels. The ongoing impact of inadequate funding has caused a difficult operating environment across the care industry in the UK, but the Trust has been particularly impacted by receiving much of our fijnding at exceptionally low hourly rates compared to the rest of the market. Despite these setbacks, the Trust continues to perform well and deliver a first class service, and we believe that the current situation will not impact on the Trust's short term sustainability and our'going concern" ststus. In response to the medium-term implications, we have built a strong balance sheet over the past six years and currentty have a reasonably healthy reserves position. We have adequate bank balances and have ownership of a small number of properties and other assets with good valuab"ons. We do have a strong relationship with our principal debtors who are our comrnissioners with much of our funding guaranteed. But we are reliant on thelr continued positlve support In line with the hourly rate, Ilvlng wage and competitors. Net assets at the financial year end stood at £2,355,199. Fundral8ing Our fundraising team abides by the Fundraising Regulator Code of Practice and their fundraising promise. We strive to always act ethically and responsibly using best practs'ce when we communicate with our supporters, and we strictly adhere to General Data Protection Regulations (GDPR) in relation to data usage. From a financial perspectrve. fundraising is a vital part of our sustainability. Trusts and Foundations incomes during the year were excellent, with a marginal increase in receipts compared to the previous year. Events and Community fvndraising from the Rossendale Fete, the Annual Fashion Show (where both tenants and staff participated on the calwalk) and our Ladies Lunch all increased in popularity and revenue. The Trust held its first Ball to celebrate our 50thAnniversary in June 2023. Our regular challenge events such as the London Marathon and the London Landmarks Half Marathon were very well supported. Several local companies are supporting the Trust as their"Charity of the Yearf,, and in the past three years we have raised over £650k to support a wide range of activities and initiatives. To keep our families and supporters up to date, we publish our in-house magazine- RossenTales, - which is distributed every 2 months. The WorkTaste scheme is predominantty funded by external support. However, we also receive good support from the government initiatives driven by the Department of INork and Pensions. Similarly, the Oakwood Day Service would be nothing like the vibrant, inventive, and developing setvice, we offer today without major input from funds raised. We extend a massive °Thank you to all our supporters" over the past twelve months for their generosity, without which it would be difficult to Sur1Ve. Page 7
THE ROSSENDALE TRUST LIMITED and The Rossendale Trust Incorporating the Hovis Pleasance Llnked Financial SLqtements for the ear ended 31 March 2024 Tho importance of our staff and investlng In our people Staff recruitment and retention are at the core of operational planning. Employers in the care sector invariably must address this issue in the context of low pay. Part of the Trust's solution to this perennial problem has been to focus our efft)rts on offering our staff a package of benefits which is affordable foc a charity in this hafd-pressed sector. In our most recent staff survey, 930/r* of respondents thought that the Trust was a good employer. We have adopted a 'alUeS based" recrUItnt framework, focusing on the Social Care Commitrnent. Workplace values are a collective understanding and the way of workin9. It helps build a strong culture, support people to develop their career and deliver high quality seNices. Staff beginning (or resuming) their career in care provision may not always have strong academic qualifications or vocational experience. The Trust recognises this and prOveS greater focus on developing skills and career paths in an environment where NVQS are more important than MBAS We offer 8 profession81 workplace, career pathways and a chance to stretch ablllties and confidence. This programme includes a comprehensive, mandatory trainin9 framework and care Industry qualifications (ifs not all 8bout the money!) - 890h of Trust stsff felt that the training provided w85 major factor in improving their skills in their job role. We have a Rewards and Recognition framework which is continuously reviewed and links closely with our values. Health Insurance, Death in Serrfice cover, Focus Groups, long service awards, celebration evenings, staff and tenants, forums, staff suggestion schemes, newsletters, refresher training, additional holidays, and regular pay reviews all form part of these considerations. These are designed to recognise strong contributions by teams and individuals and to reinforce organisational values, behaviours, and operating principles. A main driver In the mission and core values Is the strong relationship belween the staff member and tenant plus the importance of providing Variety, teamwork achievement and enjoyment for both parties. Corporate Soclal Responslblllty The Trust is dedicated to supporting CSR and considers its responsibility to Its employees, community. and the environment as a vital factor in being an excellent organisation. This could not be more evident with our last three annual applications having placed the Trust in the Times 100 'Best Not for Profit Organisations to Work for" We continue to promote a greener society and our success at the 2023 East Cheshire Chamber Awards endorse our stance on these important issues. We engage with the local community in many more ways too. from our inclu8ive and colourful fete to local markets selling products made at the Trust. We are a vital part of the local communty. Throughout the year we work alongside businesses. big and small, in our 'Make a Difference. days which work in distinct ways. Business staff teams come to the Trust to undertake tasks that improve the life of the people we care for, and we learn about their work and forge greater community links. It is a good partnership. We hold regularjoint working initiatives wilh Cheshire East, Provider Forums and the Community Voluntary Service as well as nelwork meetings with the business community, including East and North Cheshire Chambers. We also meet regularly with housing providers to find solutions to the growing needs of vulnerable people in the community The Importance of Oakwood Oakwood is the Trust's daytime activity service, providing a broad range of opp)rtunities to Trust tenants and individuals living in the wider communty to a¢sS during the week. Oakwood focuses on tsckling social isolation by promoting choice, through a structured ts'metable of enty different activities. Page 8
THE ROSSENDALE TRUST LIMITED and Thè Ro8sendal• Trust incorporating the Hovls Pleasance Linked Flnanclal Statements for the ear ended 31 March 2024 Oakwood's current activity portfolio consists of Horticulture, Media and Printing, Arts and Crafts, Cookery, Healthy Cookery, Baking, Music, Drama, Farm, National Trust, Rudyard and Foresty Group, Sccial Group, Day Trips, Walking. Keep Fit, Pilates. Video Gaming. Woodwork, Tablelop Games and Multi-sports. Oakwood is continuing lo expand. wilh new referrals coming through regularly and current users requesting to increase their number of sessions. We currently work with over one hundred individuals across 420 halfrflay sessions a week. The Importance of WorkTaste The WorkTaste initiative encourages local businesses and communty projecls to host short workplace opportunities for our tenants. These are supported 1.1 by tr8ined Rossendale staff, who record prOgS$, encouraging individuals in consolidating and developing their skills, whilst creating a portfolio which can be shared with prospective hosts at interview. Over the last two years we have been promoting our PA and respite service whereby we encourage our clients to engage in both social and work experiences. We currently have seven clients, two of which are funded privately and the rest through Local Authority direct payments. We are also heavily involved in the Access to Work funded (Department of Work & Pensions) Supported nternship programme and have been since 2019 where we have established links with three local education providers to supply our highly skilled coaches. Involvement with this programme is key for Work Taste's progression going forward. WorkTaste has proved to be a very rewardln9 experience for both business employees and for our tenants Worklng wlth other Llke-mlnded Organlsatlons The Trust has joined several organisation groups whose objectives are to provide the best possible support to people with a learning disability. The National Council for Voluntary Organisations is the umbrella body for the voluntary and community sector in England. The Voluntary Organisation Disability Group influence and develops social care policy and promotes best practice and the Social Care Insts'tute for Excellence objective is to ensure that social services central role focuses on people who use their services. Volunteers The Trustees would like to express sincere thanks to all our volunteers over the financial year 2023 - 2024 for giving their time, experience, and support. Without their massive contribution, we would find it much more difficult to run the charity succe55fully. This support has been received continually throughout the financial year by both individuals and a growing number of IocAI companies on "make a difference" days. Reserves Pollcy and Golng Concern The Trustees, medium term aim is to mainlain sufficient funds to provide working capital to cover contingencies and exceptional costs such as potential redundancies. This is represented by three months, total annual expenditure. Given the difficulty in obtaining guaranteed funding sources. this is believed to be a prudent and appropriate approach. The Trust works hard to achieve this target. In recent years, the lack of financial support from our main commissioned services provider has made this target very difficult. Given that our business model is predominantly supported by government-backed entities, we do have a lesser reliance on external funding sources. However, we are constantly pressurising our loGal authocity relationships to provide better financi81 support. Page 9
THE ROSSENDALE TRUST LIMITED and The Rossendale Trust incorporating the Hovis Pleasance Linked Flnanclal Statements for the ear ended 31 March 2024 The Trustee Board and Senior Management Team are continually looking at ways of improving long-tenm sust8inability, whilst protscting the position of restricted and endowment funds of both charities. They have reviewed the Financial Statements for the year ended 31st March 2024 and consider that adequate reserves continue to be available to fund the activities of the Trust. The Trustees are of the view that the Trust 15 a going concern. Corporats Governance The Trust follows the Charity Corporate Governance Code which is designed as a tool to support continuous improvement. There are seven principles which make up the code building on the assumptson that the charity is meeting its legal and regulatory responsibilities as a foundats'on. 1 Organlsatlonal purpose - the board is clear about the charity's aims and ensures that these are being delivered effectively and sustainably. 2 Loadershlp - the charity is led by an effectlve board that provides Strategic leadership in line with the charity's aims and values. 3 Integrty - the board acts with integrity, adopting values and creating a culture which help achieve the organisations charitable purposes. The board Is aware of the importance of the public's confidence and trust in the charity and the trustees undertake their duties accordingly 4 Dacislon-maklng and Control - the board makes sure that its decision-making processes are informed, rigorous an(J timely and that effective delegation, control and risk-assessment and managements systerns are set up and monitored. 5 Board of Effectlveno88 - the board works as an effective team, using the appropriate balance of skills, experience, background and knowledge to make infomied decisions. 6 Diverslty - the board's approach to diversity 5UPPQrts its effectiveness and leadership. 7 Openness and accountability - the board leads the organisation in being transparent and account8ble. The Trustee Board meets 8t least bi-monthly and attends an offsite strategy meeting to discuss the annual corporate plan and the financial and business framework for the forthcoming medium-term planning period. The management meet monthly with the Chair and Vice Chair of Trustees to update on important developments and operational activities being undertaken by the Trust. The Board delegates operational responsibility to the Chief Executlve and management team. Sub-committees meet monthly or more frequently to cover the major risk areas of the business - Operations and Care Management, Strategy and Fundraising, Finance and Audit and HR People and Performance. A monthly Senior Management Meeting is held to discuss and develop all operational aspects of the business and update Trustee Board meetings, as well as cascading current progress to all staff within the business. Management meetings arc also held monthly within the care businesses between Operalional Managers and Group Leaders. These are all supported by Balanced Scorecard, Risk Register and Disaster Recovery Plan. Staff surveys indicated 88¥0 agreed that meetings were beneficial and an open forum for discussion. In terms of business planning, the Trust encourages both management and staff to work across our nine sites to gain experience and understand the business better. We also mentor our promising staff for future career progression. Tumover is below the industry average and sickness below the NHS average. Page 10
THE ROSSENDALE TRUST LIMITED and The Rossendale Trust incorporating the Hovis Pleasance The Remuneration Committee led by the Chair meets annually to consider any proposed annual pay rise for management and staff. They also review any bonus scheme in place and appropriate payment for employees with the business. The Committee is assisted in its decision making by reviewing external salary benchmarking studies, and IoGal competing market conditions where available. The Trust has a wider number of policies and procedures in place which are reviewed monthly by the People and Perfomiance Committee. Key Trust policies include SOVA, whistleblowing, medication, personal care, dignity at work, staff code of conduct, moving and handling, health and safety, fire safety, tenant finance, dress code, social media, equality and diversity and also capacity, consent and a best interest policy. Appointmont of Trustees Trustees have been appointed under the original Trust Deed and a Memorandtsm of Choice covering the appointment of new Trustees starting in November 1988 through to the most recent appointments in financial year 2023-2024 in accordance with the Trusvs Articles. Inductlon and training of Trustee Board Members The selection process for new Trustee Board members considers the need for a charity to recruit thniCal expertise and appropriate relevant experience of candidates. New Board members are provided with an information pack with literature on the duts'es and responsibilities of charity trustees and importanl aspects of the charity sector. They are encouraged to spend time informally at Rossendale Hall and other business units to gain knowledge of the Trust and especially of its beneficiaries. Detsils of suitable training courses are circulated to Trustee 8oard Members with a view to keeping them updated with legislation, regulation, other compliance requirements, developments and good practice generally in the sector. Topics include Mental Capacity Act, Health and Safety, Equality and Diversity, SOVA and Dignity and Respect. The annual corporate planning Meetin9 is attended by tjoard members and senior st8ff with the airn of addressing l)oth short- and medium-term strategy for the Trust regardirbg business sustainability. Consideration is given to the external market environments and future considerations. recent business performance, current reserves. balance sheet structure, growth opportunities, financial operations and projection's, governan framework, risk register. balanced scorecard and policy updats. It may also include educating newer Board members w¢th these and other aspects of the Trust's operation. During the financial year 2023-2024 the trustees held six meetings at which the charity's progress was monitored regarding the administration, financial and public relations matters. To aid decision making, regular meetings are held between Trustees and the management team, including workshops. Risk Management The Trustees identify key areas of risk and seek to mitigate these through established reporting and monitoring Systems. The board and sub committees regularly review the company's risk register and receive reports from management on key areas of risk to the Trust. The business also has an internal audit team who reviews all key operational and financial processes in each business unrt across the Trust. The following statements outline in summary the charity's policies in managing identified forms of financial risk. Credlt rlsk The counterpaty risk on amounts owed to the charty by its customers is low, as most debtors are local Authorities Page11
THE ROSSENDALE TRUST LIMITED and The Rossendal• Trust incorporating tha Hovis Pleasance Llnked Flnancial Statements for the ear •nded 31 March 2024 Liquidity risk The Trust addresses liquidity risk in conjunction with the resetwes policy by ensuring that the business always has appropriate access to short term cash to enable efficient running of the business. Non-finanGial rlsk All non-financial risks are documented on the charity's Business Risk Register and are assigned to an executive lead indivKlual to manage and report on the risk and the associated risk mitigation strategies. Board sub-committees review these risks at least quarterly and amended in line with changing business and economic factors affecting the Trust and the sector. Publlc Benef5t In setting our objectives and planning activities, our trustees have given serious consideration to the Charity Commission's general guidan on public benefit, including the guidance'public benefit running a charity" (PB2) and the supporting of individu81s in supported living arrangements and the provision of day care facilities. Investment Powers and Policy Over recent years, the Trust has been operating within a tough financial environment and short-term liquidity has teen utilised to manage daily care and operational commitments. A portion of cash and bank balances are subject to endowment rules or restricted in their use and set aside for specific purposes is identified as such in these accounts, The Board has investigated the benefits of other investment categories and will continue to look at altematives which add value. Currently unrestricted funds are held in short term bank accounts, which enables the running of the business in an efficient manner. Restricted funds (currently £99,391) are only held on an interim basi5 until they can provide support for the purpose intended. Page 12
THE ROSSENDALE TRUST LIMITED and The Ross•ndale Trust incorporating the Hovis Ploa8ance Linked FlnancSal Statements for the ear ended 31 March 2024 Trustee's r•spon8lbilltles in relation to the Flnancial Statements The charity trustees (who are also the directors for the purposes of company law) are responsible for preparing a trustee's annual report and financial stalements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepte(J Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's activits'es during the year and of its financial position at the end of the year. In preparing financial ststements giving a true and fair view, the trustees should ft)Ilow best practice and.. select suitable accounting policies and apply them consistently. observe the methods and principles in the Charities SORP. make judgements and estimates that are responsible and prudent. 5tste whether applicable accountin9 Standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements,. and prepare the financlal statements on the going concern basis unless it is inappropriate to presume thal the charity will continue in operation. The Trustees are responsible for keeping accounling records which disclose with reasonable a¢¢uracy the financial position of the charity, and which enable them to ascertain the financial position of the charity, and which 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. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in otherjurisdictions. Statement as to disclosure to our auditors As far as the trustees are concerned, at the time of approving our trustee's annual report: There is no relevant Information. being information needed by the auditor regarding preparing their report, of which the company's auditor is unaware, and The trustees, having made enquiries of fellow dirtOrS and the company's auditor that they ought to have individually taken. have each taken all steps that they are obligated to take as directors to make themselves aware of any relevant auLlit infomiation and to establish th8t the auditor is aware of that information. Approved by the trustees 21 October 2025 and signed on their behalf by: . A Schofield - Chair Page 13
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE ROSSENDALE TRUST LIMITED and The Rossendale Trust Sncorporatlng the Hovls Pleasance Linked Financial Statements for the yoar ended 31 March 2024 Opinlon We have audited the financial statements of the Rossendale Trust for the year ended 31 March 2024 which comprise the Statement of Financial Activrties, the Balance Sheet, the Cash Flow Statement and notes to the financial statements. 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 (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 8nd of its incoming resources and applscation of resources. including its result, 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 opinlon We conducted our audit in accordance with Intemational Stsndards 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 wrth the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. W8 believe that the audit evid8nc8 we have obtained is sufficient and appropriate to provide basis for our opinion. Concluslons relatlng to going concern In auditing the financial statements, we have concluded that the trustees, use of the going con¢em basis ol accounts'ng in the preparation of the financial statements is appropriate. Based on the work we have perfomed, 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 hvelve months trom when the financi81 statements are 8Uthorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Oth•r Informatlon The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial stalements and our Report of the Independent Auditors thereon. 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. In connection with our audit of the financial statements. our responsibility is to ad 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 audit or otherwise appears to be materially misstated. Ifwe identify such material inconsistencies or apparent material misstatements. we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material rnisstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matters prescrfbed by the Companiés Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given In the Report of the Trustees for the financial year for which the financial statements ale prepared is consistent with the financial statements; and the Report of the Trustees has been prepared In accordance with applicable legal qUIreMents. Page 14
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE ROSSENDALE TRUST LIMITED and The Ros8endale Trust incorporating the Hovis Pleasance Linked Financial Statements for the year ended 31 March 2024 Matters on which we are requlred to report by exceptlon In the light of the knowledge and understanding of the charitable company and its environment oblained in the course of the audit, we have not identified material misststements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if. in our opinion.. adequate accounting records have not been kept or retums adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agernent 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. Re8ponsibiliti88 of trustees As explained more fully in the Statement of Trustees Responsibilities, the trustees (who are also the directors of the charitable company for the purpose of comp8ny18w} 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 statemants that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible forassessing 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 atternative but to do so. Audltor8 ra8pon8lbllltle8 for th• audlt of the flnanclal stst•m•nts Our objectives are to obtsin reasonable assurance about whether the flnsnclal statements as a whole are free from malerial misstatement. whether due to fraud or error, and to issue a Report of the Independent Audilors that includes our opinion. Reasonable assurance is a high level of 8ssurance, but is not 8 guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misststements can arise from fraud or error and are considere(I material if. individually or in the aggreg8te. 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. Our approach to identifying and assessing the risks of material misstatements in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows.. The engagement Partner ensured that the engagement team collecb'vely had the appropnate 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 with trustees and management, and from our knowledge and experience of the charity sector., We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, Charitses SORP FRS102. taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation)., We assessed the extent of compliance with the18ws and regulations identified above through rnaking enquiries of management and inspecting correspondence,. 8nd Identified laws and regulations were communicated within the audit team regularly and the team remained Slert to inst8nces of non-compliance throughout the audit. We assessed the susceptibility of the company's financial statements to material misstatements. 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. Considering the internal controls in place to mitigate risks of fraud and non*compliance with laws and regulations. To address the risk of fraud through management bias and override controls, we: Performed analytical procedures to identify any unusual or expected relationships; Investigate the rationale behind snrf1Cant or unusual transactions. Page IS
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE ROSSENDALE TRUST LIMrrED and The Rossendale Trust incorporatlng the Hovi8 Ploasance
Linked Financial Statements for the year ended 31 Illarch 2024
In response to the risk of irregularities and non
rh• Tru•t Umii•d Th• RoAMfid•h Trt Iffi¢orpM•tlfig lh• Hov1• Pl•aMn¢• Th• RovMd•l• Tn1 Unr••irf¢t•d ErKI0 Funds Fund Th• Ross•nd•l• Tnjst Llmlt•d Unk•d Charflv LlrN4ed knk8¢1 Che vAr•rtell RM¢rt¢t•d Total Totsi rotsl Pundl Fd5 Funds Funds Funtts 202J Toi•l Fund• Tot•1 2024 2023 Not•• ncom• 10.455 89.829 110284 110384 91.060 g1,QJQ 5.3W.432 5 3DJ.4 o,aoo,432 4.72&JJJ 4.72A33J )VwIlIng Ktivtt 114.031 24.046 138,077 13V77, 13T.087 137.087 In¥Miftni r¢nt41 270.872 27¢ 672 270Jrd 240.485 240,440 Totsi incom• s.6,) 123,875 5.819,666 6,819,885 4193,955 5,193,955 IxpMdllUrn Ralthg fun¥1 J2.984 32.964 78,059 71.059 arabl• a¢ity11.. 12.636 12.836 5,8S3.912 233 624 6,087.$36 •,10C+,172 &244,282 4241,282 )th•r o)si• 7.$83 7.583 7,OeJ Totil •xp•ndltut• 17.OJg 12,838 5.491,440 1109.7491 8,128.104 6.140.740 4322.341 4322,341 4•1 In¢am•lEKp•nthurt 112.6381 112,8381 1148,8901 1109,7491 (J08,4381 lJ21.074 (124386) 112a3861 rran$fws b•i•n fvr1 •( mov•m•ntol fund• 112.6361 112.e361 1198.6901 1109.7491 13Ce,4381 1321,0741 (128.3W (12QJa81 Fundi broughl forw•rd rotsi PurKh ¢irrf•d forw• 271,384 n6.288 1.C#)7,032 1.459,S01 209,14D I.,841 2 670 273 1,784,391 2804 669 25e.728 736.208 I?611 99 391 641 rh• at•rn•M crf fin•ndal •cti¥#i kncSJd•i •ll gns loiMi r•cogniw¢F kn the y•ar_ 111 COme expendmur•de lrnm contknukng athitl•s. "h• not•1 on p9•1 2Dto 25fonn part of th88• aU1•. Page 17
Th• Rou1ndtr Trn•t Urnlt•d and TM Rond1• 7N$t In¢oYporatlnq t Hov1• Pl••Mn BalanE• $h••t •• 4131 Mireh 2024 Th Ros8•nd•h TThsl Th• Rosmnthlo TN•t Llml¢•d 2014 Th• RosJ•ndAl• Trust Toi•l Llnk•d Ch•ty 2024 Tr• Rossertd&h Twil Tol•l Llnw Qh•rtty 202J 2024 Hx•d•••ts.' 6433S4 1 C65.563 215.(Y)J 1280.553 1.708,K)T 1 739.200 Inv•thNs 12 643.3S4 1.•23,907 7 9S4.2O0 Cumi •8Mts.' i¥ 580,746 54.213 110.741 470.670 02.313 1.278.883 C••h M bK •T In h•nd 351.642 351.642 •84,602 Ll•)IIIU•• Crelrttys f•lli19 du• wllhkn cno N•1 ¢urr•M A4••WUibtitl••l 14 MO 039 3S1.642 194 Wdo 854.216 894.996 1.475 473 2,470,469 2,8oa498 Cr•dltor• t4111n• dug •ft•rfflor• Ih•n on• 16 116270 110.270 132 223 N•tAM•L• gk4.996 1.3.20? 2 J66 199 2 676 273 Th• fund8 oIrfMeh•rty.' 726.266 .261 73&268 99.391 Lknr•sththd 258.726 I2,811 1.010,53• 1,459.501 Tol•l Chwlty pdI 994 998 27J Approwd bylh• on 21 OatAJ•r 202S and W on IMlr lJ•hoN by.. Cornyny Ng. 7921722 TM not•1 on p•3•4 2010 291m part •c¢wrl•. P4• 11
Th• Rou8nd•l• T1 Llmlte¢ •nd Tfv• PtoM•nd•h Tru•¢ In¢¢rpor•lln9 th• Hov1• Pl¢•Mn 8t4tem•ntolC•sh FtOWS 15 •131 M•rch 2024 Th• RoM•ndh TNII Totsi Unk•d 2024 The Rossendats frusi Tot1 Lw>k•dCh•nty 2023 Not• •h ui•d In ¢wrtlw ellvlll (626.eJSI 1335. 133) ¢••h flow•lrom In•lIng KI1¥1•• •tfflonl InMm• 2072 240.485 {86. 192J Pfrt••di If Ml•oflThx•d 5,83 C4•h provld•d by lui•d Inl Invmtlno •¢UvlllM 1•0,132 Ch•ry In ¢i•h provld•d •n¢ ¢h •gulv•l?nl• In th• rnportlw p•rtod ¢4•h and $tt •qulval•nl• 411•tAprtl 2023 802213 95T.314 Total ¢••h •nd ¢••h •q¥lvil•n¢• It 3l•t M•r¢h 2024 405 802 313 rA*h Ind •qulv4lwt• wnilots ol. Cath at b•nk In 802,313 Pvje i•
The Rossendale Trust Limited and The Rossendale Trust incorporaling the Movis Plea8ance Notes lo the financial statements ft)T th• year endod 31 March 2024 1 Accountlng Pollcle• a) 84818 of prepafatlon tse financial statements have been prepared in accordance wrth Accounting and Reporting by Charities.. Sialement of recommended pra¢lKe apFIKable lo charities preparing their accounts in acwrdance with t Financial Reportin9 Standard applicable in thè UK and Republic of Irel8nd IFRS1021. bssued in October 2019. Wbth FRS 102 and wilh the requiremnls of th8 Companiès Act 2C#A and UK Generally Accepted Accounting Practice. The Rossendale TnJsl meets the definition of 8 public benefft entity under FRS102. Assets and liabllille$ are inrtialty reco9nised at histoncal co$1 or tranJ•ction voluo unl$ olhernise staled In the relevant acLounting policy nole The financial Statents are presented In P¢)uThJs ¥1grlin9. which ts the lunctsonal vjrrency rounded lo the nearest pound. bl Fund• Struthro Rest80 funds are fur#Js whlch are lo be usèd in Ae¢ord8nce with specific re8tnctions impos•J by Ihe donor. Unre$tri¢ted incomo fvnds comprno those lunds which the Iw$lees or¢ freo to use for any purpose in furtheranrk of the charitable objects. Unfèstrthd funds Include deslgnaled fvnds where Ihè Iru5tees. al their discretion have creAted 8 fund for B Sdri¢ purpose Endowed funds Present those ass•l$ wttkh must be held perm•nenlly by ltte charity, Furthor detalls of each fund are disc108ed in tha notes. ¢1 Inc(xnlng resourc•s All incomlng resources are recognised On the charity hgs antitlemenl lo the re8ources,1118 probAble th* the resources will be received and thè monetary value of incoming resources can b8 measured wllh sufficlent reliability. Incame from grants is recognlsed when the charity has entitlement to the fvnds. condilions have b•8n met, bs probable 10 bè reeeived can be measured reliably. For le9gc'.es anllilementlg taken as th• •arli•r of th8 date on whlch elther the charity Is awa that probate hos been granted. the eslale has been finalised and notifi¢alion h$$ been fed by the trust that a I1nbullon will be made, or when a di8lribulion1s recelved liom the esl81e. dl Exp•ndltur• Expenditu is re¢ognis8d onc8 Ire Is a legal or conslruclive obliptson lo make a payment to O third P8rty. 111$ probab Ihal settlement will be reouired aThJ Ihe amount ol the obIlgatn can be measured reliabty Exp?ndilure is classlfigd under the foll¢)wing actbvity headlng8.' Costs of raislrwj funds comprise the costs of fundra sing events Expendrture on charfjtable activities includes the costs of rAre and 86s0cialed support costs n T•nglblo flx•d assots •nd d•pr•cl•tlon D¢preei81ion is wovided on tangible assets in UB8 at ral•s calculated lo write off the co$t over rfs ¢$1kn8t¢d uselul lrfe or, il hèhy under g finance leose. over the lease l¢rm, whichever Is Ihe ¥horter. Fre8hokl bulldings 2% pa on cost Motor vehicles 16% pa on c051 Computèrs 25% pa on cost Fumrture & Equipment 20% pa on cost Some propgrti¢s were revalued In 2010. Page 20
The Rossendale Trust Limsted and Rossendale Trust Incorporating the Hovis Plea9ance Notes to the financial statements for the year ended 31 March 2024 g) Investment propertles Investment prwrties for Wh fair valuè b8 measur•d r•liably without undw cost or effort are measured al fair value each repon9 date with thè ¢hange In fair Value recognBed In nel galnsllosses on investments in the SOFA. h) Cash C¥sh at bank is hekl lo meet the day lo day running costs of the trust as they fall due. i) Fin•ncial instruments company only has financial assets and financial1bIlitIeS of a kiThJ thal qualfy as basic finanoal instruments. Basic finandal in¥trumenls are inillally recogni5ed al tr8ns8ctfion value and 5ubsequenlty mea8ured al thelr settknienl value. jl Dèblors Trade and other debtorn 8rn f8trJgnis8d at tho $8ttlement gmounl duo. Pfepaymenta are v•luod 81 thg amount prepald k) Cr•dltors and provhlon• Cr•dllors and provlsions are re¢ognised Whe tha chttrty ha$ o psertt obligation resutting from a po$1 ovenl thal wlll probably resuli in the transl•r of lunds to è Ihlrd party and the amount due to settl? Ih? oblgalion Gan be measured or estlmaled reliabty. Cfedilors and provistons are nomalty recognBed al Ihetr settlement am¢)unt. l) Taxatlon A5 a charity, The Rossendale Twst Is exempt IrrKn lax on InMe and galns lallin9 Withln Sectlon $05 of ltte T8xe8 Act 1986 or S256 01 the Taxatlon of Chargo&ble Gal AfA 199210 lh& exlonl Ihal Ihese are applbed to Its charitable obj'ectives. No cwor*lon tax charges have 8risen In Ihe charbty this y•ar TM services provided by Ihe Tfu61 are exempl from Value Added T•x 8n(I so the Trust therefore Is not VAT reglstered. m) P•n•lon• Trust operates a defined conlrib(rtion pension schemes on behall of certain employees ol th• Trust. The a¥sel$ are held séparately from those of the Trust in independently 8dminislered funds. The ¢onlribulion$ by the Trust are thargod to tho inc<Nne ond exp8nditur• a¢count in the y•8r in which thoy bacom• pay8bl8 ft) L•9•1 status of th? tru•t The Trust Is a company limited by guarantee gnd has no sharo capital In the ovenl of th8 charity belng wound up. the liability in respect of the guarantee is limil8d to £1 pel member of the charrty The endowed Chafity the Rossendale Trust incorporating th8 Hovis PleasanrA is a separate ch8rily Set up by Irust deed whose corporate trustee IS The RossendAle Tru$l Llmlted. The charltses gre link•d 4nd as suth mu8t prepare one sel of accounts ol Golng Conr The finAn¢,'81 stat8monts hav• tjaèn prepared on a goirvj c¢ncarn ba$1$ as the trle•S lIeve Ihal no material uncertainlies exlsl. The trustees have cOnSered the level of fu15 held and the expect•d level ol IrKome and expenditure for 12 months from authorising these finan1 slalements. The budoeled income and èxpènditure 1$ sufficient with Iè1 of ièseNes for the chArity to be able to continu# 85 A going ¢on¢•rn Page 21
T RosMndal• TrnBI LIMii•d •nd Th• RO•nth1• Tnmi Irorporwing th• H¢vl• Ph•••n¢• Not•• to lh• flnlnc1 forth• y•r•ra 31 Il•Kh 20x4 Th• 11055•ndal• Try51 R1¢1 Total Th• R¢M•rtd¥• TNgt Llmll•d UnrnMrt¢thd Re$irfct•d 2 DonaUofft• lfftd L•g#el UrtTroirt¢i•d Total Toi•l 2024 Restrictsd 2023 2023 Leg•¢1•5 Grnnl moklw Trusil 10.455 10.455 10A06 99 829 99.829 82. 82. 110.284 J ¢h•rltlbl•k¢lvS11•s F••1 44fj1.997 410.089 281.OL¥J 4,4819&7 416C69 261 4461,997 418,019 x 261,100 4.001,221 381.ZQ4 189.003 12.838 Rethai9•d In¢ome Olh•rln¢4m• 135.921 24 è46 5,2eO.432 13S 921 24 946 5,300.432 136,921 142 458 7.549 .300,432 4.725.333 4 ¢)Ih•rTrndlng Actfvlu Loii•ry 114.031 24 018 138.077 lJ8,077 I 18,252 18.835 IJ7O87 44 147 114.031 24 046 138,077 1JaP77 43. 147 i 5*mInI and v•nlal InMm• 268.022 288,022 216,022 238,468 r•e•N•a 4,850 2.017 270.872 270.072 Q.012 240 485
Tr• ItM•Thdth Tru¥t LIMW Th• ROMWl• Th1 th• Pl•1••• No1t0 th•llwthl •t•ThDt•lorth¢ y•¥•nd•d Jl a024 Thb Aoswdafe Trnst Th• Aoyjendttie T11 Lknh•d iknr•¥irSct•d Aeslrt•d Endow•d Totsi lthYe•lrf¢t•d R••¢rl¢t•d Total 2023 2Q3 TOMI R•Mw¢•••xp•nd•d ¢•1• dh¢lly 411or•O to •¢fvSty $1•11¢0115 S.074 255 195.X6 22.(r25 195.751 5.274.1K6 l27&006. 135.2 1J6,211 22.02S 22,025 20.9 20.WO 37 131 37.131, 1.4WJ 1.ffj3 .278 18.278 IOB e0.108 4.510,025 91 184 20.378 2&767 36.584 1,442 8.206 9.2SS 12,i>JO Recrunrnnlty)•l• Tr•ining Corwnabléi 37 131 1403 88.278 28.235 33.873 936 2S.048
Jpp•rt ¢ots t• dMrft4bl• •¢Ovlty 77.wl 77.fj2 T1,2 {10,ODJI {10.000). 41.042 14,170 14,170. 20.C4)S ZQ.ooJ 13,331 13,331 820 81,120 83,461 83,161 3.8[6 10,581 1.2S4 13.181 80.331 12.1 66.JTO f3 14TJ 18.973 YT 4r4 ?2.flS 19.289 IT2¥38 73.5 •at •nd l 41.012 14 170 20,WS- 13.331 Pr11 ,752 Comwiino Imrrni cobis R•W •nd m•ird•n&YK• R•giiir•ts¢n 85.4S1- 10,561 10,061 1961 6.562 16.083 70.aT3 Iio,iJ¥ drA 0•pCiatJn Pfofiion Iixéd #iilthpos 13,181 eJ),331 12 1CQI 12.636 12,636 71187 12,100 Il f Non Audrf IM4 8.925 iJ.It7 256 9.rd4 1224 12.636 12.636 5,853 912 733.a74 6.Cef,ts8 3 211978
The Rossendale Trust Limited and Th• Rossendale Trust Incorporatlng the Hovls Pléa$an¢o Notss to the financial 8tatements for the year ended 31 March 2D24 7 EXpondIre & analysls of totsl roUrCeS oxp•nd•d Staff costs £ Other Depreciation Total The Ross•ndal• Trust Limit•d Raising Funds Charitable activities 32,984 753.199 786,184 32.984 6 087 536 6,120,521 5.274.006 5 274,OC 60.331 The Ro88endale Trust Charitable activities 12.638 12,636 12.636 Analysi8 ol Resouree Di$trfbution for th• In¢omo 2024 Expenditure Surplusl(d•llcltl 2024 2024 Fundraising and Volunlary Inveslments and rental income Charitable Aclivity Care Day care 138,077 270,872 4.994,647 416,069 113,677 49,511 5,565,425 404,644 24.500 221,361 1570,777 11,425 Other costs 5,819,865 6,140,740 1321,074) Chaiitable Activty expenditure oan be analy8ed by the following activitle8.' Care and Support Seriices for people with learning disabilltles Day Cenlre 5,565,425 404 Paae 24
'he Rossendale Trust Limited and The Rossendale Trust Incorporatlng the Hovls Pleasance lotes to the financial statéménts for the ear ended 31 March 2024 8 Auditors Remuneration 2024 2023 Audit fee Other SeNices - 6,720 9,666 Payroll Additional work on management support 10,842 1.200 9 Analysls of staff costs and trustee remuneratlon and expenses 2024 2023 For the linked charty in total for the year:. Wages & salaries Staff insurance costs Social security costs Pension costs- defined contributions 4,768,039 38.192 364,639 113,135 5 274 006 4, 106,575 32,030 329,398 90,209 4 558 212 The average number of employees, analysed by function for the whole Ilnked charlty was'.- No. No. Care and support services for people with leaming disabilities Administration 203 14 217 199 14 213 There was one employee who received total employee benefits (excludlng employer pension costs) of more than £60.000 (2023 - none). No Trustee received any remuneration or pension rights during the year and no expenses were incurred. The key management personnel remuneration benefits for the year were £558,660 (2023 - £493,175). Increase due to the promotion of staff to managerial roles in this year 10 Cllent Account All residents have personal monies held in a client bank account and petty cash tins separate from the Trust accounts. These monies do not belong to the Trust and as such they are not included in these accounts nor do they fom part of the ststutory audit. Page 25
31 The Rossendale Trust Llmited and The Rossendale Trust incorporating the Hovis Pleasanc¢ Notes to the financial statement8 for the ear ended 31 Plarch 2024 11 Tangible fixed assets Freehold Land and Buildings The Rossendale Trust Total Cost or valuatlon At 1 April 2023 776.368 776,368 At 31 March 2024 Depreciation At 1 April 2023 Charge for year At 31 March 2024 120,378 12,636 133,014 120,378 12.636 133.014 Net book value At 31 March 2024 643,354 643.354 Not book value At 31 March 2023 655,990 655,990 Fhts1d bulldlngs 2024 2023 Rossendale Hall including car park Bank Street 309,496 316,480 339,510 655, 990 643,354 Freehold Land and Bullding8 Furnitur• The Ros8•ndale Trust Llmlted Motor Vehlcles Computer Equlpmont Equlpment Total C08t or valuatlon At 1 Aprll 2023 Addltlons Disp08als At 31 March 2024 1,067,979 258,586 46,494 (18,900) 48,067 11 S,077 1,489,709 46,494 18,900 1,517,303 1,067.979 48,067 115,077 Depreclation At 1 April 2023 Disposals Charge for year At 31 March 2024 89,782 1 $3,667 115,0001 43,777 182,444 48,067 114.903 406,44 9 115,000) 16,380 106,162 174 115,077 48,067 451,750 Net book valu8 At 31 March 2024 961,817 103,736 1,065,553 Net book value At 31 March 2023 978, 197 104.919 174 1,083,290 Fr•ehold bulldlngs 2024 2023 Media Cenlre Braeside Thirlmere Maple Avenue 128,176 322,080 226,935 285,626 961,817 731,380 327, 300 229. 631 289, 886 978,197 Page 26
The Rossendale Trust Limited and The Rossendale Trust Incorporatlng the Hovis Pleasance Notes to the financial statements for the ear ended 31 March 2024 The Rossendale Trust All fixed assets apart from the specie property have been transferred to the Rossendale Trust Limited. In 2009 the Trust entered into a 60 year lease with Contour Housing Association to build and let accommodation to the residents as part of the move to Supported Living. The A&sfxiation is charged a peppercorn rent for the land the has been no diminution in the value of the land. 12 Flxed aGSèt investment The Rossendale Trust Llmlted 2024 2023 Rental Property - 3 Leefleld Road Chapel Market value brought forward Aild net gain (loss) on revaluation Market value as at 31 March 2024 215,000 215,000 215.000 215.000 The investment property was subject to an independent valuation at 31 st March 2020 based on its current market value by local estate agent. 13 Debtor8 The Rossendalo Trust Limlted Debtors for fees Prepayments and accrued income Other debtors Gift aid 512,728 58.628 2.890 409,931 57,249 2,890 6, 500 476,570 580,746 14 Cr•ditor8: amount8 falling due wlthln one year The Rossendale Trust Llmlt•d Bounce back loan Mortgage Creditors Taxation and social security Accruals and deferred income 10,000 6,800 9,906 126,290 10,000 6, 800 16,265 72,217 319 385 424, 667 440,039 Creditorn . Amount8 falllng due arter moro than one year Amounts falllng due in 14 yearn Bounce back loan Mortgage 13,333 23,333 63,333 73,333 Amounts falllng due after 5 years Boun back loan Mortgage 51,938 51.938 58,890 58,890 The Mortgage is secured on the Fixed asset Investment Propety 3 Leefield Road Chapel. The Mortgage term is 15 years and is with Barclays Bank pic. Page 27
The Rossendale Trust Limited and The Rossendale Trust incorporating the Hovis PleapAnce Notes to the financlal ststements for the year ended 31 March 2024 16 Funds Incomlng Outgoing l Apnl 2023 Resources Resourc88 Transfers 31 March 2024 The Rossendale Trust Endowment Fund Hovis Pleasance 736,268 736,268 Unrestrlcted Funds General accumulated funds 271364 1,007,632 12,636 12,636 258,728 994,996 The Rossendale Trust Llmlted Unrestricted Funds General accumulated funds 1,459 501 5 695,790 5,894 480 1459 501 5,695 790 5,894 480 1260,811 1260 811 Restrlctad Funds Oakwood Projects shlist Oakwood IT WorkTaste Horticulture Oakwood Music Oakwood Health Oakwood Media Oakwood Art and Craft Oakwood Cookery Harold's Cabin 08kwood Orama 11,000 33,100 11,0(10 33,100 3,250 54.521 3.250 118,735 42,912 2,500 31.776 13,284 45 6,200 780 64,214 42,912 2,500 31,776 1.684 45 11,600 150 24,117 142 209,140 123.875 2,676,273 S.819,665 6,140,740 6,050 42.954 66,291 233,624 99,391 2,355,199 Total Funds En owed Fun The Hovis Pleasance Fund represented the 4 properties, 22, 24, 26 and 28 Buxton Road, Macclesfield. All of these properties have been sold in previous years. The proceeds were used to purchase and develop two more suitable properties to increase the number of tenant capacity and is within the objects as advised by the Charities Commission. The balance remains in cash. Restrlcted Funds ' Restricted Funds have been allocated in direct relation to grant requests, therefore covering costs incurred for running our Oakwood and WorkTaste services. 'The WorkTaste Restricted Funds have been directly allocated against WorkTaste staff costs., this element is covered in all grant submissions. This fund is to cover costs of salaries and travel expenses to allow tenants to attend the service and receive 1-1 support. 'The various Oakvrfood Funds have been successful in achieving income from many sources during the year. These monies have been used to fund various daily activities. replace equipment and support the activities diwt staffing costs within Oakwood. "The available funds in the Harold's Cabin fund and Wishlist fund will be used toward the replacement of the current Oakwood cabin. P8ge 28
The Rossendale Trust Llmited and The R05sendale Trust Incorporatlng the Hovis Pleasance Notes to the flnanclal statements for the year endod 31 March 2024 17 Analysls of net assets between fund The Rossendale Trust End¢)wment Restricted Unrestrlcted Funds Funds Fund8 Total Funds Tangible Fixed Assets - specie propety Net Current Assels 384,626 351,642 736,268 258.728 643.354 258,728 994.996 Tho Rossendale Trust Llmlted Endowment Re8trfcted Unrn8tricted Funds Fund8 Funds Total Fund8 Tangible Flxed Assets Fixed Asset Investmenls Net Current Assets Long term Liakn'lities 1,065,553 215,000 95,530 (115,271) 1.260.812 1,065,553 215,000 194,921 11 271 1,360,203 99,391 18 Ponglons The charity ¢Jperates a defined contribution pension plan for Its employees. Pension contiibulions payable by th8 Trusl in the year amounts lo £113.135 (2023- £90.2091. There was £11,284 outstanding for contributions at the year end {2Q23- £7,452). 19 Flnanclal commllrn•nts The Trust entered into 8 5 year agreemenl to enter 5 competitor8 foi the London Marathon at an annual cost of £1.8LX). There is one year remaining on the bond. 20 Related Party Tran8actlon8 Thera are no related party transactlons in Ihe year (2023 nil). 21 Legal •tatU8 Since 2012 the Rossendale Trust Limited Is a tharitable company limited by guarantee, Incorporated in England and Wales arKI has no share capital. However due lo specie land being held in the original charity. it was necossary for Ihe Trust lo maintain the two separate charities. The Ro&8endale Trust Lld <1146771) is the tru81ee of The Ro8send8le Tru$l (1148771-1) and the objectives and purpose of each charity are essenlially the same. 22 Rgconclllatlon of net movemgnt In fund6 to net ca•h Ilow from operating actlvltle8 2024 2023 Net m¢ement in funds Add back depreciation charge (Gains)Aosses on assets L8ss profil on sale of fixed assets Deduct interest income Shown in investr'ng acti¥itres Decrease (increase) in debtors Increase (decrease) in creditors {321,074) 72,967 (128,386) 70.873 (2.1W) (270,872) (104,176) (1.580) (lQ,135) (240,485) 185,807 (212.807) Net cash used in operatlng a¢tlvltles (626.835) (335,133J Page 29