Company registration number.. 08008?29 Chartty regist.ration ilumber.. 114?174" MANCHESTER CAREAND REPAIR (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THEYEAR ENDED . 31 M4RCli 2025 Horsfield & Smith Statutory Auditor Tower House 269 Walmersley Road Lancashire BL9 6NX MANCHESTER CAR£ AND REPAIR CONTENTS ReTefence and Administrative Detdi Ito2 Strutegic Report 3to6 Trilstee:., R￿port 7t09 S;.ateinent of TrusLees' Respoi)sibilitie>--- io Indppendent Auditors. Report Ilto14 bia¢Lment 5J* Flnanci31 Activil.ies alance Sheet 16 Statement of Cash Flows i? Noles to tfie Financial Statements 18tD36 MANCHESTER CARE AND REPAIR REFERENCE AND ADMINISTRATIVE DEfAILS Charity Re8iStrotion Number 1147174 Company Registration Number 08008229 Registered Office Unrt 12 The Wesley Centre Royce Road / Old York street Hulme Manchester M15 5BP Tru5tee5 The Trustees who Served during the year were a5 follows.. T K McDonaSd, Chair H M Lan& Tiea5urer T Hubum J Hutston A Lewts Dmort P K Smith M X Barkat (resigned 28 January 20251 M L Lindars, Deputy Chair Iresigned 15 Februaty 20251 S E Steele (appointed 19 August 20251 B R E Saffer (appointed 19 AuBUSt 20251 F H Robinson lappointed 19 August 20251 Chief Executive Officer A MasOtI Secretary A Mason (appointed 24 September 2fj251 A Mottram Iresigned 24 september 20251 Auditor Horsfield & Smith Statutory Audito Tower H(￿use 269 Walmersley Road Bury ncashire BL9 6NX MAPICHESTER CARE AND REPAIR RE'FERENCE AND ADMINISTRATIVE DETAILS Bankers uo-operatvi e Bank plc 6tP, Floor, Oepartment 20103 l A"ngel Sqdare Manchester M(￿0AG Scottisr. Widows Bank 67 Morrison Street Edinburgh EH3 8YJ CCLA Investment Management Ltd Senator House 85 Queen Virtoria Street London EC4V 4Fr Epworth Investment Management 9 Bonhill Street London EC2A 4PE Sha"_wbrook Bank Ltd Lute House Warley Hill Busine55 Park The.grive, lireat Warley Essex CM13 3BE CAF Cash Limtted KinES Hill WesL Malling Kent ME19 4JQ Close Brothers T￿aSUry 10 Crown Place Londo EC2A 4FT Cliarity Baiik Fos5e House 182 High Street Tonbridge Kent TN9 IBF MANCHESTER CARE AND REPAIR . STRATEGIC REPORT YEAR ENDED 31 MARCH 2025 The trustees, who aTe directors for the purposes of company law. present their strateg1¢ report for the year ended 31 March 2025, in compliance wrth s414C of the Companies Aci.2006. hievements and performance Operation5 and Effortiveness Priorities I,. To provide hlgh quality service5 that enable people to contlnue to live safely, Independentlyj and affordably in a healthy home. 2.. To model and pro¥ide high quality serwces that address the home repalr, improvement and energy ￿VIng needs of vulnerable owner o¢¢upiers. 3., To model and provide high quality seThÉce5 that address the home repair, improvement and energy SO￿ng needs of vulnerable owner occupiers. 4: To promote our work to funders and partners and to work with them to explore innovatN¢ gptions that will allow services to be maintslned a challenging funding environment. The organisalion continued to operate all its core commissioned Services IHandyper50n. Home Repair5 Support, Cèsework and Horne from Hospital) on a bTidgin(¥ contract extension basis. Existing grant funded work supported by the Henry Smith charity and NHS Charities Tggether continued, as did contract funded work 5UPPOrting patients form Pennine Care wards to return home and 5e¥eral partnership projects wtth the Carbon Coop fUll￿ed by the Dept vf Energy and Net Zero. During the year we responded to 12,223123124=.14,98"51 service users and provided 9952123124.. .11,4011 diiect support intetventions to 5590123124- 58381 indiyiduals or families. Thus avera8ing 1.8 job per client. The Casework team suppDrted 849123124.. 12581 clients with casework sllPPOrt and supp'Drted 237 123124..3881 dSents to access beneflt entitlements to the value of £1,376,O17123124'. £2,059,147) helping to tackle pensioner poverty by putting an average of £5.806 extra income into the pockets of vulnerable people. The Handyper50n service supported 6597123124- 79831 peoplE With home safety assessFT'ient, srriall repairs and minor 8daptations and helped to tackle energy poverty by Supplying energy efficièncv li8htbulbs to their clients. The Home First Team worked with 45 clients, who were in the process of being discknarqed form ment61 health wards. by providing major ario rriinor works, deep cleans. carpet5, CUrtBins, furniture and furnishing5 and 10 people were supported through the NHS Charrtie5 Help to Move project. The Home Repairs Support team helped 639123124- 15891 pe.ople with technical support and advice and helped 85 poople123124.' 1731 to acces5 grants and loans to complete essentlal home repair and fixtures. The team delivered home Improvements to the value of £251,361173124 £1,048,091,851 acr05S the year, and in the process transfomied people's lives as well a5 hDTne5. The OTganisalion made 223 123124: 1691 grants to the value of £64,613123124: £101,7941 from our small repair5 and welfare funds (Trustees, Home comfort¢ NHS welfare fiind, Pennine East Personali5ation Fund, Gas Safe and Elertricity Safety Council repairfijnd pots) MANCHESTER CARE AND RCPAIR STRATEGIC REPORT YEAR ENDED 31 MARCH 2025 We continued to provide transport home aiid short-tenn settling in support patients being diacharged *rom Hospilal. Ihe Home from Hospital service provided direct services to L300 123124, 14601 ihdividuals across the city. Govetnance and Leadership 5. To amend O¥irgov?rnance stnlciure and further develop the Trustee l)ody so that our governance Is effective. l￿fOrmed, and efficient, and the leadership of the organisation Is skilled, motlvated and reprpsentativR of the tomniunities we serve. 6.. To explore ways for the leaders of the organisation to engage with dlent groups more regularly and in a more structured w8y. so thattheir views and needs are refletted in the seNices we provide. Due to tontinuEd cc>mmi5J¢ioning uncertainty the Board and senior staff continued to be preoccupied with" risk management. We plaft to run an additional Trustee recru(tmenl in 2025-2026 to retain an effèctive skill balance and representation. Finance 7: To approach contrart and fijndlng negotiations with a Clear message about our soclal value credentialg, our efficsency. and the clear benefits of our holistic working prartlcès. 11:"lo increase gur long-term I'e5ilienc2 by exploring options for generating 5i8nifi¢ant additional income obtside the framewtsrk ol publlc sector conts7cting. Oiiring thg Autiimrt of 2024 our rnain contra¢ previDusty a joint commission of the NHS, MCC huusing and MCC sorial care VLas split inio two separate contracts. We tendered for and won the k4oine improvewent Agency IhomA rÈpairs and handyperson51 tender whlch has been awarded on a 3+.2 year Contract ba515, commeFbcing AprÈl 2025. The NHS did not Inanage to run a procuremènt procèss during Ehis period and so that part of the contract continues on a further 6 rmonth extension Icurrent expiry date is 30 Septetnber 2025.1. During 2024-2025 we engaged in an extensive biddlng process to acquire a building under mcin(h￿a5ter City CoJncll's Communtty Asset Transfer Scheme. The Buildingi at 49 Barrack Street, has sub5tan-.ial potential to al provide a low cost long tèmi home for Manchester Care and Repair Sep.tires 31ongside a commur.ity Hub space whicFI we intend to operate with partner organisations lo provide a wider offer of communiti based arttvtty for Manchester Care and Repairfs tradition31 clients as well as intergenerdtional activities and options for the wider communitie5 of Hulme. all told thii project will extend our rangè rrf work and hDpefully attract interest from new funders. We ere dplighted to learn, èt the end of Mdrch 7025, that we had won the competitive process, The ard work to restore and redevelop the site as a low carbon communfty hub building starts now. Environmental and Soci)I Value Priorlty 9: fo invest in technologies and piocesse5 that slgnificantly iedu¢e our carbon emissions and to integrate energyreduction objertives across 311 our services and actlvities. ènsuring our programming meets our carbon emissions redurtion targets. We praduced our >econd. Carbon Emissions Report during 2023-24 Icovering the year 2022-20231 during thig period KIC&R's ￿ore. emissions decreased by 6,736 kgcoie, an 11.6% reduction from tke baseline. This puts MC&R ahead of the annual target of 3634 kdC02e16.25%1. MANCHESTER CARE AND REPAIR . STRATEGIC REPORT YEAR ENDED 31 MARCH 2025 of this, a 2000 kgcoze reduction was achieved in the office energy use.and company tar categorles, and can likely be attributed to investment5 made in office energy efficiency anda company EV during 23-24. We are currently awaiting the final carbon reduction figure5 for 24-25 and report, this shpuld be- available by mid-october We have pro8re55ed our workon becoming a carbon literate OrEan￿atIOn, aGcredlting our own course with the Carbon Ltteracy Project and training all our staff and producing an action pFari.'"We ire currently in the process of applying for our full accreditation as a Carbon Literate organisatioli.£￿d have begun di5CU5sin8 Wlth other Care and Repair and Home Improvement Agen£ie5, how iNe rriiglit support them with the Carbon Literacy agenda. Environmertsl and So¢lal Value Priority 10.. To invesl In our people and our partn¢rship It should be noted that our main contracts priciDAbas not kept up wage or price inflatlon in anv. meanin8ful way causing a triple Squeeze for MaoAster Care and Repair consequentially Iiie have had to make some redundancies and freeze recruitment leadlng. Our stBff body is now down from 39 to 30, almost a 25% reduction, this ha obviously impacled on the arhount of work that can be'- elivered as well as our abilty to invest lirne iirto foNard plannin& business development And. ¥"innovation, We continue to work hard to maintain morale and have retained our Greater, . Manchester Good Employment Charter full mernbership. and our Investors in People LivinR? Wage ' and Di58bility CDnfident Accreditations. ' We continued our working partnership with.the Carbon Coop continuing work on the Le￿err..hU1rr.e are3-ba5ed retrofit projecl, the Energise EnerBV A(fvice project and the Green Home FinanLe Pl￿t with -the Carbon CoDp and Greater Manchester Cred;"t Unions. Addttionally, we progressed. further partnership work with the Royal Voluntary Service and Circle Manchester ori coop.eratign around Home from H05Pital Services and with Circle Manchester and the Carbon Coop.arounrl "future community-ba5ed work out of the Barrack Street site. Flnantlal review Policy on reserves The Trustees recognise the Importance of a prudent re5eryes policy which is able to support potential bu5ine55 developmerit whilst maint8ininE the ability to cover dose-down costs a5 3 last re.sort. The tTUStee5 recognise that the balance sheet shows reserves of £1,016.126 as of Jtst March 2.025. The boord review5 it Teserve5 policy and strategy anr)ually: The last review was May 2025 when the Statement below was agreed. The Board has examined the organisation's reqviremènts for reserves in the ItgP,t of the main risks to the organisation, balancing the needs of current.and future beneficiaries. .The reserves polic> is thèrefore assessed on a basis of risk5 to the organisatlgn and planned commitment5 and investments. The level of reserve5 required will be recalculated in accordance with a template agreed by the Board and reviewed at the end of each financlal year. The amount rL)quired will be designated. The designated reserve5 calculation will includ&- MANCHESTER CARE AND REPAIR STRATEGIC REPORT YEAR ENDED 31 MARCH 2025 l. Redundancy cost& DUt5tanding lea.se coJnmitments, estimated dilapidations, and pension liabillty, 3 months key personr..el costs to manage closure. The remaining reserves balances wll be titled iinrestrictéd resetrve, the organisation will alm to rètain iio less thtn 3 monltLS and no more t4an 6 months operating costs in reserves. 'herè the organisation is holdiiig reserves greatef.than the designated reserves plus six monihs pe.-?ting costs.the Trustees will pursue an active poliry airned at Investing In: l. Activities or programme5 of workthat further the purposes of the organisation as described wit.hin the mtsmorandum and articles. 2. Ar_tivities or programryes of work that improve the infrastNcture, resilience, arbd sustainaL,.'lity of the organisation. . Prln¢ffpol risky and uncertointies Organi5atiOn Fnaintalns a comprehensive risk register that is reviewed at every Board meeting. The Audit CommSttee oversees the Internal Audit priKess which selects topics for audit and strutlnises .thé3udit finding5 thereby providing assurance to the Board," The stralegic report was approved by the trusteès of the charity on 7 October 25 and signed on its behalf by: T K McDonald Trustee MANCHESTER CARE AND REPAIR TRUSTEES. REPORT The tru5tee5, who are director5 for the purposes of company law, present the. annual report together wilh the financial statements and 2udTiors' report of the charitable conipany for the year endEd 31 March 2025. Objectives and actI￿tIÈS Objects und aims Manchester Care and Repoir provides practical support focused on helping people to m.iintain their independence, wellbein& safety and sècurtty in their own home. The majority of. our,¢lients ore older people. Our sèi)iices include: The provision of support and advice on home repair5 and adaptations including support to access grant5 and loans for essential repairs. heating and domestic goods. Handyperson services fulfilling home safety.assessments, mlnor adaptations, fa115 prevention adaptations, small home repairs and other hoosin8 4nd related odd job5. Caseworker service, supporting people to irnprove their financral 7(nd social indepéndep.F" . bv helping them to access benefits and entitlements, redLtce"their bi115 arbd connect with other services, activities and community 5UPPOrt. Home from Hospital service5 providing a range of support, including transport home frosii hospital, sale and well calls and practical interventions such as fitting key safes, handrai15 etc, Publlc benefit The Trustees have paid due regard to Chartty Commi%sH)n guidance on public benefit I￿ deciding what activitles the Charity should undertake. The activities are focused on meeting the need5 of older and vulnerable people living wtkhin spectfic local authority areas. The service eliglbility £iitEna relate to need, low income and disadvantage. The Trustee5 are satisfièd thal the Charity delivers charitable activitie5 for public benefft. The trustees confirm that they have complied with the requirements of sertion.17 of the Charitie5 Att 2011 to have due regard to the public benefil guidance published by the Charlty Commi5sie*n for England and Wales. Structurei governan¢e and management The organisation is 3 Charity (Charity Number 1147174) and a Company _imited by Guarantee ICompariy.Number"800822>1 a5 such we are regulated by the. Char,ity CGthmis5ior, Ind Companie5 House. The Organisation is registered vlith the Information Commi55ionÈrs Ofiice IRegist"ralion Number £70140401 and the Financial Londurt Authority IHègistration" numbei. 7161861. MANCHkSTER CARE AND REPAIR TRUSTEES, REPORT Ntsture 0Ago¥erning docunient The MpFnorandum and Articles of the th.aritable company are avallable from the Registered Offlce and lricludo the follo'wwing objects: "The rèlief of elderly. ané disabled personi ènd those affected by long-tenwb illness or poverty or otherdisadvantage. In particular bv- providing servir.es. advice or assistance for persons in necessitous circumstances upon terms appropriate to their means-. . prr.ii4ding bou5es." 4oste!s. home repalrs. adaptation5 and improvements and any associated -amenities forpersons in necessitous circumstances upon terms appropriate to their mean5,. roviding.ediication, advice or informètion to or for any person or bodv. ajor ri.fks andinunogementofthose risk5 ThÈ Organisatlon maintains a comprehensive risk register that is reviewed at every Soard meeting. Th& Audit CommSttee oversees the Iriternal Audit Pro￿55 which selects topics for audit and Siru*inises the audiifindings thèreby providing assyrance to the Board. The Trustees recognise the risks asSOC13ted wtth the Charity's reliance ori a 5in8le contract (albeit a jointly commissioned contractl however they recognise and welcome that broader shifts in public procurerfjent prartice rrtitigate against these risks. The organisation is committed tO,lfilfS1 King. WFtlI Commissioners to achieve best outcomes both for cliènts and for the wider . 5VSteffi as'Nell as to redouble efforts to widen its pool of investors and supporters. Finah£ial instruments Obje£tives ttndpolirles The chaTili's activi;ie¢ expose It to a number of financial rrsks including credit risk, Lash flow rlsk and liquidity risk. Creditrlsk .' .. The charity'"s princip￿1 financial assets are bank balances and investments. Thp credit risk opi liquid funds is limited because the counterpartie5 are banks wilh high credit '.Itings a551Ened by international ciedit-ra:ing agencies. Tlie chari•y has no signrficant concentration of credit risk, with exposure spread over a large number QT ¢i"unterparties. Cashflow risk . The charitvs activities expose it primariFrfto the financial risks of change5 in interest rates. Interpst bearing assets are held at fixed rate to ensure certainty of cash flows. Liquidity rlsk In Osder to maintaln liquidity to ensure that suffjcient funds are available for ongoing operation5 and -lopmenL% the charwty uses investments and deposits which are reviewed on a regular futur@ dei.." basis. MANCHESTER CARE AND REPAIR TRUSTEES, R£PORT Disclosure of infomiation to auditor Each trustee has taken steps that they ought to have taken a5 3 trustée in ordér to thake"thetnielves- aware of ony relevant audtt information and to establish that the charity's auditor is.aware'of that information. The trustees confirm thal there 15 no relevant information that they know of an'd of which they know the audltoi is unaware. The annual report was approved by the trustees of the charity on 7 oc.tober 2025 ènd sigiied oil its behalf by- McDonald Trustee MAfr4CHESTER CARE AND REPAIR STATÉMENT OF TRUSTEES, RESPONSIBILITIES The trtJrtee5 (who are also the directtsrsof Manchester Care anLI Repair forthe purposes of companv lawl are respDrisible for preparinE the trrustee5' report and the financial statements In accordan with aapli¢4L71e la¥V and Uni(ed Kingdom Accounting Standards (United Kingdom Generally AC￿pted Account1r￿ Prhcticel, includiftg FRS 102 "Tne Financial Reporting Standard applicable in the UK and Republic of Ireland" Company la5N requires the trL)5tee5 to prepare finat7ci31 statements for each financial year. Under rom￿any lew the iriistees not approve the financial statement5 unless they are satisfied that they.giv'e. a true and fair view of the State of affair5 of the charitable company and of the incoming resource5 2nd application .Jf res(frurces, including r(s income and expendlture, of the charltable cnnipavy for t.hat period, In preparing these financial statements, the trustees are required to.. select suitahle accc'.Jnting policies and apply them consistently- observe the methods and principle5 in the Charities SORP- make judg@nipnts and estimdte5 that are reasonable and prudent,. state wlyether applicable accounting standards. comprising FR5 102 have been followed, subject to any material clepartures disclosed End explalned in the linan-ial statements- and prppare.the financial statements on the going concern basis unle55 It is inapproprlate to presume that t*e charitable company will continue in business. The trustees are responsible for keeping proper accounting ￿COrdS that can disclose with reasondble accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply witki the Companies Act 2006. They are also responsible for 5afegua,-ding the asset5 of the chari•able company and hence for taking reasonable steps for the preven ioi:. and detection of fraud and other Ir￿guIdn11e5. Th"e Irtsstees arp responsible for the mainlenance and integrity of the corpoiate and financial info-, mation included on the charitable company'5 website. Legislation governing the preparatlDn aiid di%5eri,in3tkin (If.financi21 statemenls m3y"dilier from legislation in otherjuri5diction5. App--oved by the trustees of the charity on 7 October 2025 and signed on Its behalf bv- K McDonald Trustee, io MANCHESTER CARE AND REPAIR INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF . MANCHESTER CARE AND.REPAIR Opinion We have audited the financial statements of Manchester Care and Repalr Ithe'¢harltVI.for the year ended 31 March 2025, which. comprise th.e Statement" of Financial A"ctitritles, Balance" Sheet, Statement of Cash Flows, and Notès to thè Financial Statements, including a surnmary of si8nitJtant accounting policies. The financial reportingframework"th3t has been applied In their prepa7tiOfl 15 Unifed Kingdom Accounling Standards. comprising Charities SORP - FRS-"102 'The Financial Report1ng 'Stanéard applicable in the U"K and Republic of Ireland: and applirdble law Iunttèd Kln"gdom'Genèfall:' Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the stale of the charfty's affairs a5 at 31 March 2025 and gf its Incoming resources and appllcation of resources, Including its income and expenditure: for.the year then ended,. have been properly prepared In acCOrdan￿wif￿.-U￿rted Klngdom Generally Accepted Accounting 'Practice- ahd have'been prepared irb accordance wttb. the ￿quIreMentS of the Conipanle5 Act 2006, .Basis for oplnio *We c(>nducteé our audit in accordance wfth Internalional 5tandard5 on".Auditlng.IUKI IISAS_ILIKII and "opplicable law. Our responsibilities under those Standards are further described in the frudltor responsiblllties for the audwt of the financial statements section of our report. We are irtdependent of the charity in accordance. with the ethical requirements that are relevant to our audit of. the financial statements in the UK,. iwbclvding the FRC'S Etlical Stand'ard, and we havKs fulfilled our ottier ethical responsibilities in accordance with these requirements. We believe that the audtt evidenc ¥we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concem In auditing the financial statements, we have concluded that the tru5tee5 use of the g.oing cono¢rn basis of accountlng in the preparation of the financial statements is appropriate. Based on the woik we have perfomied, we have not identtfied any material uncertainties relating Io events or condition5that. Individual￿ Dr collectlvely, may cast signrficant doubt on thts charity,: ability to continue as a going concern for a period of at least twelve months from when the origipal financlal statements were authorised for i55ue.. Our responsibilities and the re5ponsibilitie5 of the trustees wtth respect lo going contern are described in.the relevant sectlorns of this ￿pOrt. Other informatlon The trustee5 are responsible for the other information. The other infomiation" comprfses the Information Included in the annual report, other than the financial statemehts and our audltorfs report ihereon. Our opinion on the financial statements does not cover the other information and, except to the extent Dtherwise explicitty stated in our report, we do not expres5 any form of assurance conclusion thereon. li MANCHESTER CARE AND REPAIR INOEPENDEN I AUDITOR'S REPORT TO THE MEMBERS OF MANCHESTER CARE AND REPAIR In ronil¢4Ction with our audit of the f:nancial statements. our responsibility is to read the other informall￿-.rn ènd, ir, doing $0 consider wt4ether the other infcrmation is materially Incons￿tent with th¥ flnant1al statements or.. our .krTuwIEdgÈ obtained-.in the a(Jdit or otherwise appears to be mai'erially mi5Stated. If" we idpntt-fy such .matèriaS inconsistencies or apparent rnaterial mièstatements, are required to determine wliether-.there Is a material misstatemerit in the fin&.fftcial statewents or a material mi5rtétement of the other inforrnation. If, based on the work we have performed, we condude that there is a material misstatement of this other Information, we are reÈiired to r?port tha* fact. wa have nothing to.reuort in this regard. Oiiinion on other matter pre&cribEd by the Companie5 Act 2006 In èur oplnion, based on the work undertaken in the course of the audit.. the.informatio￿ gwen in the Strateglc Report and Tru5tees' Report for the financial year for whlch th&'.iryancial statements are prepare6 is consistent wlth thefsnantial statements; and lie Str&tegic Report and Trustees. Report have been p￿pared In accordance with applicable legal 'requirements. Matters on whlch we are required to report by ex¢eptlen In the iight.-f oo'r Knowledge and understanding of the charit¥ and its envirofirnent obtained In the course of the audit, we have not idèntified material misstatements in the Strategic Report and the Trustee5' Repo.t. We have nothing to report In respect of thé'foilowing matters where the Ccjmpanies Act 2006 requires ￿-. to report to you if. in ourapinlon: ade4u8te accounLing records have not been kept. or returns adequate for our audlt have not been received frcTr branches not visited by us- or thè (Inattcial Statéments are not in agreement with the accounting records and returns,. or .tert8in (iisclnsures of trustees remunerat40n specified by law are not m¥de,- or we liave nr.t received all the infotmation and explanaiion5 we require ror our audit. Responsii)ilities of trustees As explained more fully in the Statement of Trustees, Responsibilitie5 (set out on page IDI, the tf115tee$ 3re responsible for the preparation of the flnancial statements 8nd for belng satisfied that thèij give a LNe and fair view. and for such intèrnal contrd as the trustees delermlne 1£ necessary t nable" the preparation of financial statemetbts that are free from material. misstatement, whether due to fraud (sr error. In préparing the financial sthtements, the trustees are responsible for assessing the charity's ability ID continue as a goin8 concern, d.:sclDsin& as applicable, mattets related to going concern and using the going coricern basi5 of accounting Uiiless the trustees either intend to liquidate the charity or to coa)e operations, or h.ave no realistÉc aliernative but to do so. 12 MANCHESTER CARE AND REPAIR INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF MANCHESTER CARE AND REPAIR Auditor responsibilities for the audit of the finandal ststements Our objertives are to obtain reasonable assurance about whether the financial stètements as a whole are free from material mi55tatement. whether due to fraud or error. and to bsue 3n auditorf. report that includes. our opinion. Reasonable assurance is a high level ￿.asSUranCe, but Is thot a guarantee that an audit conducted In accordance wlth ISAS IUKI will always" detert" a material misstatement when it- exists. Misstatements tsn arise from fraud or error .3nd hre cothsldered material if, individualty or in the agg￿gate, they could ￿asonablY be expected to'influence. the economic decisions of users taken on the b4Sis of these financial statements.. The extent to which our procedures are capable of detecting irregularitie5, indudirig fray'd Is dètailed below-. The extent to which our procedure5 are capable of detectlng irregularities, including fv￿d.-,.. Irregularities, including fraud. are instance5 of ntin, procedures In line wlth our responsibilities, ouli ompliance with law5 and ￿gulatIonS, W& de51¥n "d above, to detect Thaterial misstatemeM%' ift respect of irregularities, including fraud Is detailed below- Wt.. consTdered the natUTe of t.he ffimlted company'5 industry and its cor)trol envlronmeDt arid rqsiiewed documentation of their policies and procedures relating to fraud and CDmpliance with lavts regulations. We also enquired of tnanagement atjout their own id.3ntification and assessment of t￿-e risks of irregularitie5. WÈ obtained an understanding of the legal and regulatory frameworks that the Ilmtte"d,¢ompany operates in, arbd identified the key laws and regulations that.. had a direct effect on the determinotKTrn of maferial amounts and dis£10sures in the !Inancial statements. These included UK Companies Act, tax legislation,. and do nDt have a direct effect on the financial Statements but compllance with which may .bo fundamental to the limited companws ability to operate or to avoid a material penalty. We ensured that the engagement team collecttvely had thè appropriate competeoce, c4p4billtles and skills to identify or recognise non-complian￿ with applicable laws and regulations. We discv55ed among the audit enEagement team regarding the OPPOittunities and incenttrfes that may exist withln the or*7ariisation for fra.ud and. how and where fraiid. might cffur. In th¢.findJicial. statement5. In common with all audits under ISA5 IUKI. we are also required to perfom) spectfi£ pr￿edureS tg respond to the risk of management override. In addrpssing the rlsk of fraud through manageinent overridp of controb, we te&ted the apprnpriatengs5 of journal entr￿5 and other aolustment5; assessed whether the judgements made in makino account>ng estimate5 are ittdicative of a kY).iential bi35,' and ev31uated the business rationale of any slgnrficant transactions that are unusual or outilde the normal course of business. 13 IhANCHESI'ER CARE ANB REPAIR INDfPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MANCH-STER CARE AND REPAIR In addition to the above, our prO￿dUreS to respond to the rlsks identlfied included the following.. rèview.ing financial state¢nent disclJsure< by testing to supporting docurnentation to assess tompliaiice witkJirovi5ions of relevar)t laws and regulations described as having a dlrect effect on "the fin3FKiak5tate￿te[Ttf perfomiin6 ail alytical prgtedures to Identify any unusual or unpxpected relationships that may indi£aJe ris￿ of yriaterlal misstaterrient due to fraud. enquirin8 of Managemelit conLerryillg aklual and potential litigation and claims, and instance5 Of 011-compliancp with iavis and regulations.. and rea￿Ing the miniJtes ol Yiieeting of those charged with governance. .ilse of our report .Tliis- report is made solely to the charitable compatiy trustees in accordance with Chapter 3 of Part 16 of tlie Conipanies Act 2006. Our audit work ha5 been undertaken $0 that we might state to the cnarb'..V'S truste¢.s those malters we are required to state to them in an auditor's report and for no .gther.purpo5e. To the ￿"lIest extent P45fFnitted by law. we do not accept or assume responsibilty to -iotia other than the c￿rItable company and its trustees a5 a body, for our audit work, for this report, or foilhe opinions w.9 have formed. ,0 Peter Iwicol BEM Bsc -.CA (Senior £tatutory A￿dItOrI FLir and on behalf of Horsfield & Smith, 513tutory Audltor Tower House ?&9 Walmersley Road LBnta-hire BL9 6Tr4X 7 OLtober 2025 . 14 MANCHESTER CARE AND REPAIR STATEMENT OF FINANCIALACTIVITIES YEAR ENDED 31 MARCH 2025 (INCLUDING INCOME AND EXPENDITURE ACtouKr AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES) Unre51rirted . funds Total 2025 2024 Note (As rp5tatedl Incomeand Endowmentsfrom: Donatlon5 and legacie5 Investment income .Charttable artivities 22,724 29,(K)O 1,407,-777 . 29,000 1,407,.777 2,143,753 Totsl income 1.459,501 1.459,501 2,196,71 Expenditure on: Charitable activities 11.493,8341 11,493 8341 j¥,277.49:31 11,493.8341 12,277,4931 Total expenditure 11,493.8341 Net exper)diture 134,3331 134.3331 180,779 180,7791 Ilet movement in fvnds Reconciliation of fvnd5 134,3331 (J4 3331 Total funds brought forward I,OiO,459 1,050,459 1,131,238 Total funds carried forward 24 1,016,126 1,016,126 I,Q50.459 All of the Charity's artivities derive from Continuing operation5 duringtheabove tWg.peritsdL,: The funds breakdown for 2024 is shown in note 24. MANCHESTER CARE AND REPAIR 3ALANCE SHEET AS AT 31 M.4RCH 2025 I.REGISTRATION NUMBER: 08008229) ""2022t- 2025 Note IAS restated) Fixed*Ssets Tangible &pJsets 17 11,698 Current assets Storks 8,864 40.017 1.152,720 616,869 6,296 107,438 1,038,758 763,262 19 Cash at"b&nK and ifl haryd ash held for loans to re5ide:Its 1,818,470 1.915,754 Creditors: Amounts falling due within one year 21 1814,0421 1881,2391 Net current assets 1,004.428 1,034,515 Net a,$sets 1,016,126 1,050,459 Funds of the charity": Unrestricted ip_come funds Unre5tri¢ted funds 1,016,126 1,050,459 Total M'nds 24 1,016,126 1,050,459 The fii)ancial statements on page£ 15 +0 36 were approved by the trustees, and authorised for issue pn 7 Octpbei. 20£5 and signed on their beb.alf by: ,McDonald Trustee 16 MANCHESTER CARE AND REPAIR STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2025 2024 2025 Note (As re#atèdl Cash flows from operating actiNlltie5 Net cash expenditure 134,3331 Adjustments to cash flows from non-cash items Depreciation Investment income 4,245 129,0001 127,2311 -1102 3521 159,0871 Workln8 capilal adjustmwits Ilncreaselldecrea5e in stocks Decrease In debtors Decrease in ereditors Increa5e/ldecreasel In deferred income 18 12,5681 67,421 1143.9591 76,762 2,431 19 21 177,7931 fr19,2771 17.3,7571 Net.caslytlows from operating artivtties 161,4311 Cadi flows from investing activities Interest receivable and similar income Purchase of tangible fixed assets 29,OLXJ 27,241 120,19151 17 Net tash flows from invesling activkiiès 29,LKYJ 6,433 Net decrease in cash aiid cash equivalents 132,4311 167,3341 Cash and cash equlvalents at l April 1,802,020- . 4,869354 Cash and cash equivalents at 31 March 1,769,589 1,802,020 "All of the cash flow5 are derlvedfrom contlnuing operations during above two perlods, 17 MANLAESTER CARE AND REPAIR NOTES TO TFIE FINANCIAL STATEfvIENTS FOR T.HE YEAR ENDED 31 MARCH 2025 l. ,Chari4rstatus FAanchester C.are".and.Aepair 15 a. company limit￿ b.y guaranlee, has no share capital and Is iiicor.porat.d in England arid Wales. .'n the event of the charity being wound up, the liability In re$.Pèct af the gliardntee is limtted to £1 per mern￿r of the charity. TFt*aadre5i pf its"re¢.15tered ()ffice is: Eni4re55 Business Centre 380 Lbester Road Mlbirhèster G&.dter Manchest-. r. 159EA c£ounting policies summary of slgnlflcant accounting Polici￿ and key accounting ethmates -! h- principo1.¥tccounting policies adopted, judgements and key sources of estimation uncertainty in the prepèration of the"financial Statements are a5 follows- 84£¢% of prepardtioii Thp f&r,4ncial etatements have been prepared In accordance with Accounting and Reporting by Chdritie5'. art costs Subl!.."O'rt costs are tb95e fundi",ons that 35SlSt the work of the charity but do not directly undertake chl'wt.3ble activities. Qvpport costs include bacK offite cost< finante, personnel. payroll and ifv¢rnance costs whitb. support the activty to provide 5UPPOrt to older people andlor those of any ag*liviiig tvith disability to live indepettdently in theirown home. Flxed assets .All f'iLd aJset5 ère iftitially recorded aL Cost. Depb'e¢iatl¢¥n .LiP.pfecsfjtion is calculated go as to write off the cost of an asset, les5 its estimated resldual value, ' gtrr:r tl?E useful e¢orioKnic Ilfe of that ttsset as follows.. Asset cla55 Lompvter & oftite equipment Fiktures & littin85 t¥Aotor vehicles Depreciation method and rate 33.3% straight line 20% straight line 25% Teducing balance St(xk %tocks pre value.d at the lower ol cost and net realisable value, after making due allowance for 'Jb- 3lete and slow nioi•ing ittsnis. Loans T.he charity holds and manages fou.. frafids. th* are logned to. Manchester residents to facilitate hotne. repairs ariAI improvements. Loans due from residents and loans due to Manchester Clty Council 8Te offset and the net 01fiount presented In the balance sheel within other creditors. The loans are measured Initlally at fair value, nel of transaction costs, anrt are meaKured subsequently at mortisAd cost. 20 MANCHESTER CARE AND REPAIR NOTES TO THE FINANCIAL STATEMENTS ' FOR THE YEAR ENDED 31 MARCH 2025 Flnancial in5tn5ments The charity Only has finaticial asset5 and. financlal liabilities of a kind that qualify a5 basic financial instruments. Basic linancial instnjments are initially recognised at a trarti4ction value- an.d subsequently measured at their settlement.value with the exception o* bank loans whlch. are subsequently measured at amorti5ed t05t.using the effective interest method. Retiremert benefits The charity operates two pension scheme5 Wfth The Pension Trust and a few ii)surance comp4DI¢s., the prerniums of the policles are invested and manaBed independentty of the financèsof tMÈ ¢haritv. One scheme is the Ethical Plan which 15 funded and not contracted out of the 51?te scheme aT)d"is a money purchase penslon scheme. The Other scheme is the Growth Plan. The Growth plan Is funded and not contracted out of the state scheme and is a multi-employer pension plan. The cost of providing retirement perision5 and related benefits Is charged to management expe4¥es over the perlod5 benefiting from the employees'5èfvices. The disclc)5ures In the acmunts fDllow the requirements of Section 28 of F85 102 iri relationto mtjlti-employerfunded Schemes in which the charity ha5 a partlupating interest. Contribution5 payable to fund past deficits are recognSsed as a liability in the chartty'5 fjnancièl statements calculated by the repayments known. discounted to the net present value at the year-end using a market rate discount factor of 5.52% at 31 March 2023. 5.31% at 31.March 2024 and 4.84% at March 2025. The unwinding of the discount 15 recoÈnised as a finance cost in the Statemènt Of"Financ￿l Activities in the perlod Incurred. Volunteers The charity has volunteers supporting HanTJypetson in the Manchester"seTvice. OveF811 t"hi& Iiigli'ly valued support15 a small part of, the charttable artfvitles and the charlty has not'made an ortim3te of Its value for theseaccounts. Taxatlon The charity Is consSdered to pass the tests set out In Paragraph I Schedule 6 of the. Flnance Act 2.010 and therefore it meets the definition of a charitable company for UK corporation tèx purposes, AccorLfingl¥, the charity is potentially exempt.from £aKation in -: espect of income or capttal gain received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2Ql_O or Sèction 256 of the Taxation of Chargeable G8ins Act 1992, to the extent that such .income or..uains dre applied exclusively to charitable purposes. 21 MANCHESTEP CARE A.ND REPAIR NQTES TO YHE FINANCIAL STATEMETriTS FOR THE YEAR ENDED 31 MARCH 2025 3 . Inti7me.Irom 0onations.and legacie5 -Up￿S￿lEte funds General Total 2025 Total 2024 SIiF>dry. income, gifts and donations 22.724 22,724 25,730 22,724 22,724 25,730 .4 Ir7¥estment income Unfestricted funds . General Total 2025 Total 2024 l¥ilerest receivable an(1 similar income: Bank interest receivable 29,000 27,231 S-.. IN£onTe.'roM charitable actfvkttes Unrestrirted funds Gene¥al Total 2025 Total 2024 Nots". Chargeable Ihiork- fees .Contractual income 10,212 999.199 398,356 10,212 999,199 398.366 48,919 1,030,660 1,064,174 Grants .407.777 1,407,777 2,143,753 6 income frorn charitable aLtivitie5- Charge3hle work DeferrÈd Acrrned Income Deferred Accrued Nekv income income received in Income intome income for blfwd clfwd the year bl￿d year clhvd Chargable work 16,1051 16,1051 16,317 16,317 10,212 10,212 22 MANCHESTER CARE AND REPAIR NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 MARCH 2025 7 Income from charitable actlvitie5-"Contractual Income Deferred A(crued Income Deferred Accrued. income Sncome received in Income incomè Incow.e for. blfwd year clfwd c/fvid ' the year.:, bllwd Contractural income 11201 999,319 11201 999,319 999.19Y. 999,199 8 Income from ¢harftable a¢tivilies- Grants Deferred Acirued Income Deferred Accrued New income incorne ￿￿1ved in Income income incotne lor blfwd the year . blfwé. year clhvd Manchester Csty Council EHGC NHS- Pennine Care- Home rirst project NHS Charitles together- Help to move 161,0551 261.385 149,7971 150,513 L078 103,9 18.2881 36,902 91,314 167.9621 60,254 Henry Smith Founthtion Nationwlde- DIY project GHFA pllot Filt I gas safe Electricity NW priority seryices Damp & mould in kid5 homes Energy packs (household support hjndl Manchester climate change agenry (Withington assistancel Electrical safety first 8.750 37,800 19,450) 14.100 14,Irx) 11.G85 15,7151 13.125 13.795) .4375 7,814 7,200 3,090. 2.000 5.0(Kl 15.IK)01 166,7701 537.023 1144,2921 68,030 4,375 398.3E6 23 ANCH£STER CARE P.ND REPAIP, O¥ ES-O THE FINAliCIAI STATFM"NTS F02 T4F YEAR ENLII.D 31 MARCH 2025 9 Éfrgrftable tirtivities Ail trthe Lnai'itabile 34ivitie£ relaied to one ac:Évity i.e."*o provide support to older people and/or tii4Sè. 4f 30ypge'.wirig'with 3;dis-biliWo live.indoppndÈntly in thelrown home. . Unrestricted funds Total 2024 General 2025 Note (As restated) .Atr>¥iles unrjertakpi dire¢tl¥ Corltrait13bour Loli7rotr.ted Work .￿￿tèrIalS 211,522 750 211,522 750 862,196 8,703 53,507 12,123 41.932 51,534 9,444 29,969 51,534 ..TY4v￿1 &nd subsistente 29,969 4 %upport-£OJts .5taf4¢ts5ts '.*.rkf£kEicpal.fees eiit ¢]nd r4tMs L028,248 32,474 .42,284 18.414 1,616 10,911 1,028,248 32.474 42,284 18,414 1,616 10,911 1,133,230 24,416 37,866 16,219 2-633 InS¢1f6J￿.è '¥:P£iTts-BMfA"renewal 11,133 f.oiTrlPUtèl.5UPPO¥t, postage 3n(J 24,551 10,253 9,479 1.499 1.121 24,551 10253 9,479 1,499 1,121 30,916 22,304 other Xp&rLt7;y#nt 7,000 FiniTrli f.¥. charoes Ctsmvuter and offlce oquipment 4￿.pr￿c1atI￿r. 'res & Fittings Depre*i3tion N4otoi" vehicle5 det)reciation 208 208 411 139 139 47 3,9 5.518 3,900 5.518 ' 5,200 6,496 GE)Vtrnancg costs li 1,493.834 1,493.834 2,277,493 Vllof year adjustment Yhe LOTlI-)ar3tives in trne prior year have been amended for a misallocation of an accounting code .iier a number of year5. 1.he effect in 2024 has been to increase staff costs by £4,278 and reduce the er.pr41 fund bro5J&71'it flL ntrldrd bv £8.91? 24 MANCHEST£R CARE AND REPAIR ' NOTES TO THE FINANCIALSTATEMENTS.- FOR THE YEAR ENDED 31 MARCH 2025 11 Governance costs Unrestricted . fvnds General ' Total . 2025 .Totsl' 2024 Audit fees AudSt Df the fwancial statements Other governance costs 4,3(MJ 1,218 4,300 1,218 5.518 5,518 12 Auditors. remun¢ration 2025 , Au'dit-of the flnancial Statements 4,300 Other fees to audlturs All other noD-.oudit Services 2,30 .2,300 13 Net incominglout8oing resour¢es Net outgoing resources for the year include: 2025 Staff penslon contributions Deprqciation Audit fees 63,780 4,247 4,300 Operating lease payments: land and buildings vehicles 38,559 equipment 891 857 25 MANCHESTER CARE AND REPAIR NOTES TO TH.E. FINANCIAL STATEMENTS FQF. THE YEAR ENDED 31 MARCH 2025 .14 s.taff ct)sls and pFholumèDts The 3gc,re'gatè pay.roll cosl5 were as follows: 2024 2025 (As restated) Stift costs'during.the.year were: 901,469 53,734 63.894 5,192 3,959 966,230 85,918 70,717 6,087, 4,278 Jollil'sè£UFily.cti¥ts ritliér neri5ion cost5 Othlyi ppst retiremertt benefrt co.ts Lifè agsurance premiums 1,028,248 1,133.230 Particular5 of employees: The average number of. employeès during the year, calculated on the basÉs of full time equivalents (Jl b,ours per week j. was as.follows= 2025 2024 No Nlimber of staff 28 31 .4veragu number of staff (head countl .'Averdge.ryiiniber of fLJII time stdff130 hrs per week or morel Aver6ge number of part time staff Iless than 30 hrs per weekl 35 38 19 16 24 14 35 38 Thc N￿Mber of employees whore emoluments fell within the following bands was.. 2025 No 2D24 No £60,001- £70.000 £70,001- £SO,000 26 MANCHESTER CARE AND REPAIR . NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 15 Key management personnel The. key management personnel comprise. the Trustees. the Chief Executive" OfficEr,:" the Resources Director and thE Services Director. N¢) trustees, nor any persons connected with them, have received any remuneF3tie￿￿ -.the charity during the year. o trustees have receive.d any reimbursed expenses from the charity during the.year.- The total employee benefits of the key management personnel of the charity were £2.10,50712024- £206,L161. 16 Taxation The charity Is a registered charity and is therelorepxempt from taxation. 17 Tanglble flxed assets Computer and office equlpment Fixtures •4d fittinss Motor vehicles Total At l April 2024 22,952 3,520 20.798 At 31 ma.rch 2025 22,952 3,520 Dep.re¢latlon At l April 2024 charge forthe.year 22.744 208 3,382 138 5,2(K) 31,326 At 31 Marth 2025 22,952 3,520 9,IlX) 3i,"572 Net book value At 31 March 2025 11,698 11,698 At 31 March 2024 208 138 15,W 18 Stock 207.5 2024 Stocks 8,864 6,296 27 MANCHESTER CARE AND REPAIR NOTES TO THE F4NANCIAI STATEMEWTS. FOR I HE YEAR ENDED,31 MARCH 2025 iè"PebtOrs 2025 2024 TrBde debtOY5 Pr*,payifients Actrrued. income 6,888 27,113 6.016 11.950 20,522 74,966 4G,017 107,438 20 LSFI and cash equivalents 2025 2024 Calh on hand asli at baik Ca.%h held $or loaTrsto resident5 1,930 1,150,790 616,869 1,730 1,037,028 763,262 1.769.589 1,802,020 21. Ctedltors: amounts hlllng due within one year 2024 2025 IA5 reststedl 26,316 250 'Trade.creditors Q.'hTrsr,taxation and social security othpr rreditors LO￿￿5 on behalf of Manchester City Council Accruals Defei rpd income 35,741 315 7,068 616.869 9,257 144,792 11,741 763,262 11,640 68,030 814,042 881,239 28 MANCHESTER CARE AND REPAIR NOTES TO THE FINANCIAL STATEMENT5. FOR THE YEAR ENDED 31 MARCH 2025 Manchester Care and Repair holds and. manages four funds that are loaned.to Manch'ester. residents to facilitate home. repairs and Improvement5. These are known a& HELP, ttie Home Enersy Loan Fund totalling £515,796 12024.. E578,5131. PERL Property Essential Reriovabon Loan totalling £lOO,CX)512024.. £182,261), PERL 2 las is PERLI totalling £L06812024.. £2,488) and EHCF, Empty Homes Cluster Fund totalling £-12024: £-l. These loans are included within: &di'er creditors. .,The Fund5. the intereSt￿ar.￿ed.0n them4nd.£￿IoaUS￿s￿héV are.repaid may.only lfre 445ed. 4ri- accordance with a specific agreement made wtth Manchester City Council. these LoaTh Funds are kept and adriiini5tered Separately from the other fund5 of Manchester Care and Repair. Total funds, cash remaining to be loaned to residents and loans outstanding are summarised in the following table. Cash held for loans to otst5tandin residents .from résiden.ts Totsl Balan HELP loan 826.251 515,796 310,455 PERL loan 236,067 I￿,005 1,068 PERL2 Ipan 1,068 1,063,386 616,869 446,517 29 MAN£HESTEX CARE AIYD REPAIR NOTES TO THE FINANCIAL STATEMENTS FOR THL YEAR ENDED 31 MARCH 2025 27 PeHsians. -he foÈal 'pensiOti rontsibution5.paid in the year amounted to £63,894 12024=.£70,.717j and at the bala,. ILe sheet 'date pension. contritrrYrf(Z024:" £nill were outstanding and are included ions o vitb.jii credito￿. aliinesl¢i' Core arid Repair participates in pension schemes with The Pension Trust, One scb.ejY7e is tha Ethical Plan which is funded and is Dot contracted out of the state scheme. The Ethical Plan is a MorFeii purchase pension scheme. At the balance sheet date there were 6 active member5 -mployed by Manchester Care and Rtspalr.. T4p otrlie.r s-heme.is the Growth Plan (thè Planl- The Plan is hjnded and is nDt contracted out of the State s-b.eme. The Growth Plan is a multi-emp5oyer pension scheme. The comparkv participates in the scheme, a multi*mployer scheme which provides benefits to some 521 non.attsoclated participating em￿0VerS. Thè scheme is a defined benefit scheme in the UK. It 15 not P05siNe for thp company to outain sufficient information to evsable it to account for the sclerne as a defined benefit scheme. Tberefore it accounts for the scheme as a defined contribution scheme. ThKth .4chom@ Is Stjbject to the fundinE legislation outlined in the Pension5 Act 2004 which came into forre tsr, 3fl December 2005. Thi5. together with documa￿l￿ts tssbed by the Peiisions Regulator and i o£l,.*Yiral ALtUoiial Slandards issued by the Einancial Repgrting Council, set. out the framework for fiindii)E deflned ￿.￿lefit oceupational pension scheTnes in the U -rho stheme .s classlfied as a 'last-ma4 starjding arrangement,. Therefore the company is potentiallv li&ble for other participating employers, obligations if those employers are unable to meet their ".Brp of the scheme deficit followlng withdrawal frGm the scheme. Participating employer5 are loshlly rcquired to meet iheir share of the scheme deficit on an annuity purchase basis on witlidrawal frorrrthe scheme. 30 MANCHESTER CARE AND REPAIR ' NOTES TO THE FINANCIAL STATEMENTS -: FOR THE YEAR ENDED 31 MARCH 2025 A full actuarial valuatlon forthe scheme was carried out at 30 September 2023. This valuatiom showÈd assets of £514.9m, liabilities of £531.Om and a deficit of £16.Im. To eliminate thi5 funding Shortfall, the Trustee has asked the participating employers to pay additk)nal contributions to the scheme as . follow5.' Deficit contributions From l April 2025 to 31 March 2028 £2,100,(Y)O per annum . .Ipayable monthlv Unle55 a concessirfyn has been agreed with the Trustee the term tD 31 March 2028 ￿p￿les. Noté that the Scheme's prevlous valuation was cauied out wtth an effective'date of 30.Septeii5"bér 2020. This valuation showed assets of £800.3m, Iyabilities of £831.9m and a deficit of £31..6m. To ellminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as'follows.. Deficit contributions From l April 2022 to 31 January 2025 £3,312,¢XIO per annum Ipayable mont6￿) The recovery plan contributions are allocated to each partlcipating employer" in Ilne with thelr estimated share of the Series l and Series 2 scheme liabilities. Where tbe scheme is in deficll and where the company has a8reed to a deficit Iu"F>ding arrangernént the company recognt5e5 a liability.for this obligatÉon. The amount recognised 15 the net prèsent valu.e of the deficit reduction contrlbution5 payable under the agreement that relates to the defi¢it. T.he presetbt value 15 calculated using the discount rate delailed in these disclosures. The unwindlllg of the cliscount rate 15 recogni5ed as a finance c05t. 2024 2023 Present value of provision 31 .MAN¥HESTER CARE AND REPAIR NOTES TO THE FINANCIAL STJ.TEMfNTS FOR TH[-YEAfi ENDED 31 MARCH 2025 '2econci 1iatl.on of opening and closing ptovislon5 2025 2024 i*pditor'at start of pèriod.. -Il¥Jwindihg.oF the disctjunt factor linterest expense) . iaoflcit contribution paid. -.k*Tr.jp8surements- impact of any chanipe in assumptions measu¥ethents- 8tDendments to the cor.tribJtion schedule . gdito:, it'.end iif period 51 108 1521 1621 114 115 51 Intbme and expenditure impact 2025 2024 Ir>teTes! expe.nse ReMeasurement- impact of any change In assumptions Remea5Vyerrient- ?menclments to ihe conlribution schedule 'Contributions paid in respect of future service Costs recogllised in income afjd expendltJre iccount 114 73 188 71 77 Jissumptions . 2925 % per artnum 4.84 2024 % per annum 5.31 2023 % per annum 5.52 Ttte Ihiscouf'i ratJ shown aiiove are the equivalent single discount rates which, when used to dis¢ouht the £Uture recovery plan contributions due, would give thg same re5uIt5 as usinE a full AA corporate bjnd yield CLiThe to discount the same recovèry plan contributions. 32 MANCHESTER CARE AND REPAIR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Deficlt contribution5 Schedule Year endlng 2025 2024 2023 Yeat I Year 2 Year 3 41 41 41 52 The company rnust recognise a liability measured as the present value of the contNb'utiohs payalle that arise from the deficit recovery asreement and the resuhing expense in the income 4nd expenditure account l.e. the unwinding of the discount rate a5 a flnance cost in the perlod in wh.ich it arises. It 15 these contributions that have been used to dèrive the companrfs balance sheet liability. Manchester Care and Repair ha5 been notified by the Pensions Trust of the estimated employ¢Jtr dèbt on wkthdrawal from the Plan based on the financial position of the Plan as at 30 septembèr 2024. As of thi5 date thè estimated employer debt for Manchester Care and Repair was £14,599 (30 September 2023: £13,470). 33 .AtliCHESTER CARE AND REPAIR NOTES YO THE ￿INANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 20?5 -. 23.Obligations under leases and hire purchase (ontracts 0￿ratIng leasè comH)Itn1ents Tottsi"rtsture mininlum lease payments under non-canceilable operdting leases are a5 follows- 2025 2024 *iid buildings Wili,,li) year 8etw#én one and five years 30,1Y15 39,988 30,005 59,409 KfViU';£n )ne year 240 821 34 MANCHESTER CARE AND REPAIR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 24 Funds Balance at l Aprll 2024 Balanceat 31 MaF£h 2025 Incomlng resources Resources "expended Transfer$ Unrestricted funds General 194,853 1,459,501 11,493,834) 128,829 289,349 Designated 855,606 1128,8291 Tot"al fun41s 1,050,459 1,459,501 11,493,8341 I,Q16,126 Balance at l April 2023 Balance at 31 Marcli 2Q24 Incoming le50ur￿$ Resources e¥pended Transfws Unrestricted funds General 107,356 2,196,714 12,277.49-1 IE8,276 194.h53 Designated 1,023,882 1168,276} 855,606 T¢)tsl funds 1,131,238 2.196.714 12,277,4931 1,050.459 The designated reserves are held to cover liabilities of leasès and payroll etc. in the ev￿nt that the Drganisation ceases to operate. The Boarii currently need5 to hold £ 726,777 at the end of March 2025 in tsrder to be confident that it carb meet it potential commitments. There are proposals to invest orryanisdtK)n activities that further the purposes of the organisation or improve t.le infrastructure. resili-nr.e and sustainability Df the organisation. 35 MANCHESTER CARE AND REPAIR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 25 Analysi5 of net assèts between funds Unrestricted funds General Total funds.at 31 March 2025 Taff@Ible fixed assets Cul'TÉnt agsets CilfYg>nt liabilitie5 11,698 1.818,470 1814.0421 11,698 1,818,470 1814,0421 Tot&t Trei 8$5ets 1,016,126 1,016,126 Unrestricted funds Total funds at 31 March. 2024 £IAs restated) 15,944 1,915,754 1881,2391 General TO￿0￿ble fi,'(ed assets Current assets 15,944 1,915.754 1881,2391 Cufrent liabilities Total net.asset5 1,050,459 1,050,459 26 Analysi) of n2t fund5 At l April 20?4 Financing cash flows At JI March 2025 I'a¥h at ban% and in hand 1,802,020 1763,2621 132,4311 58,997 1,769,589 1704,265} Loans 1.038,758 26,566 1,065,324 Net debt 1,038,758 At l April 2023 ?.6,566 Financing cash flow5 1,065,224 At 31 March 2024 Cash at bank and In hand 1.869.354 1821.4971 167,3341 58,235 1,802,020 1763,2621 1,038,758 Loans 1,047,857 19,0991 Net debt 1.047.857 19,0991 1.038,758 36