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← Princes Risborough Centre Ltd

2025-03-31-accounts

REGISTERED COMPANY NUMBER: 08021841 (England and Wales) REGISTERED CHARITY NUMBER: 1151083

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

THE PRINCES RISBOROUGH CENTRE LIMITED

Bradbury Accounting Services Limited The Annexe

164 Chartridge Lane Chesham Buckinghamshire HP5 2SE

THE PRINCES RISBOROUGH CENTRE LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page
Report of the Trustees 1 to 5
Report of the Independent Auditors 6 to 9
Statement of Financial Activities 10
Statement of Financial Position 11
Statement of Cash Flows 12
Notes to the Statement of Cash Flows 13
Notes to the Financial Statements 14 to 23

5

THE PRINCES RISBOROUGH CENTRE LIMITED (REGISTERED NUMBER: 08021841)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Princes Risborough Centre Limited, operating as The Princes Centre, is a social enterprise, originally funded and run by the people of Princes Risborough and the surrounding areas for the benefit of everybody in the local community. Our charitable object is to relieve the needs of the elderly and people with physical disability, learning disability or mental health issues, and their families and carers, in particular but not exclusively by the provision of day care facilities. At the Centre we place great emphasis on dignity and integrity in dealing with all our clients, taking a personal, client-centered approach in planning and organising the care provided.

The Princes Centre provides much needed respite for carers and an inspirational environment for frail elderly people and those living with disabilities, who are looking to make new friends and want to continue learning and living a fulfilling life. The Centre offers a range of engaging activities, outings and entertainment from arts and crafts classes lo swimming, gardening, dancing or simply relaxing with friends over a game of dominoes or scrabble.

Alongside activities at the Centre, the emphasis is on being a visible part of the local community and as such some activities are held away from the Centre at appropriate locations, for example taking the book club to the library, or ice cream tasting at the farm that produces the ice cream. We offer specific skill enhancement courses such as independent living or teaching people to use public transport, and we provide active support for those people who require personal care or other assistance.

These services are provided at two locations; the original site in Princes Risborough and the second site that we lease in Bourne End, acquired following a request from the Buckinghamshire County Council (as then was) in 2018. Both sites are regarded as an integral part of the whole charity and not as separate subsidiaries.

Significant activities and achievements in 2024/25

5

THE PRINCES RISBOROUGH CENTRE LIMITED (REGISTERED NUMBER: 08021841)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Public benefit

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

Volunteers

The charity relies heavily on the Trustees who give up their time voluntarily, the dedicated staff and volunteers who run the day to day support to the clients, and the donors, both individual and corporate, from the surrounding community who offer tremendous support to the Centre and all of its work. The loss of one Trustee last year gave us the opportunity to evaluate the mix of skills and experience of our Trustees to ensure that the Board would be better equipped to meet the demands of an expanding organisation.

STRATEGIC REPORT

Financial position

As a social enterprise, the Charity aims to ensure that our income will provide adequate financial stability and the means for it to meet its charitable objectives for the foreseeable future. The Centre's charitable object focuses on the provision of day care facilities, and the reserves must be maintained at a level sufficient to sustain that object in the event of any reduction in trading income. That income is almost entirely generated from client fees and is susceptible to several external factors such as government and local authority policies on the funding of social care, the frailty and age of the client base, and changes in accreditation requirements. At 31 March 2025 total funds held by the charity were £2,400,757 (2024: £2,399,427 of which £289,190 (2024: £309,733) were restricted funds.

Investment policy and objectives

In recent years the charity has made a small, but increasing, surplus on its trading activities. This, combined with the occasional gift through legacy donations, has led us to consider investing funds to allow for essential capital projects, in accordance with our status as a social enterprise. This became a more urgent problem when we received an extremely generous legacy donation following the death of a Princes Risborough resident who had been a consistent supporter of the Princes Centre since it had been taken on by the local community in 2012.The Trustees have developed an investment policy to ensure that they are in a position to exercise proper management and supervision of these funds. A key element of this policy has been the successful establishment of an investment sub-committee of the Board of Trustees to provide routine monitoring of investment performance and advice on proposals for the use of income generated by such investment.

Reserves policy

The Trustees' intention has been to maintain the charity's reserves at a level at least equivalent to six months’ operational expenditure having regard to the above factors. Following our experience during the period of lockdown and the slow reopening of services, the Board reviewed this policy and agreed that it would be prudent to maintain future reserves at the equivalent of 12 months operating expenditure. This allows for sufficient time for the Charity either to explore and introduce alternative funding streams or, in extremis, to make satisfactory alternative arrangements for the continuing care of its clients.

The Trustees review the level of reserves on a quarterly basis to ensure that the fund is being maintained at least in accordance with the policy. This policy is reviewed each year, and appropriate levels of reserves are established, following completion of the annual accounts. It has now been agreed that the Charity needs to build up its capital reserves to enable it to plan for significant future expenditure on capital projects, such as major building works and improvements to the transport fleet, with a particular view to evolving into a carbon neutral business These resources are being built up through a combination of fundraising, donations, grants and trading surplus funds as can be seen in the financial statements.

THE PRINCES RISBOROUGH CENTRE LIMITED (REGISTERED NUMBER: 08021841)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

FUTURE PLANS FOR 2025/26

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The charity is controlled by its governing documents, a Memorandum and Articles of Association and a deed of trust, and constitutes a charitable company, limited by guarantee, as defined by the Companies Act 2006. The liability of trustees in the event of the charity being wound up is limited to £1O each.

Trustees are responsible for the policy setting and strategic direction of the charity, and the staff are responsible for the day-to-day management of the charity. In addition to a "Trustee member" the charity has a second category of members, the "Ordinary member" who are invited to become members by the Board of Trustees and whose names are listed in a register held in the charity's offices.

Trustees who served during the year are listed below, and a recently completed audit will allow us to ensure that the appointment of a successor will be dependent, inter alia, on the outcome of that audit. The trustees are responsible for proposing and seconding suitable candidates to be considered by ballot for appointment as a trustee.

Induction and training of new trustees

All trustees are given a detailed introduction to the Company by the Centre Manager before their names are put forward to the Board for possible appointment as a Trustee. Following such appointments, they are offered a tailor-made training program, based on their trustee role and their previous experience, with ongoing mentoring being provided as required by experienced trustees. The initial training is provided by an external agency, currently Community Impact Bucks.

Key management remuneration

The Trustees agree on the level of annual pay increase, based broadly on the overall performance of the charitable company, and by comparison where possible with similar organisations within the social care sector. The Trustees are developing new KPIs for the management of the charity following the retirement of the General Manager. Future remuneration will be based on these KPIs, on which the success of the charity will be assessed.

Related parties

The Company's five-year plan allows for closer integration with the local branches of relevant charities, as well as the primary health and social care organisations, to ensure the earliest possible identification of those most in need of the services that the Company can provide.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

5

THE PRINCES RISBOROUGH CENTRE LIMITED (REGISTERED NUMBER: 08021841)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

08021841 (England and Wales)

Registered Charity number

1151083

Registered office

The Princes Centre Clifford Road Princes Risborough Buckinghamshire HP27 0DP

Trustees

P J Cline A P Masterton-Smith T J Scrivener AH Turner M Walsh D R Whittaker DG Williams (Retired 25.12.2024) MA Wooster Keyte

Auditors

Bradbury Accounting Services Ltd The Annexe 164 Chartridge Lane Chesham Buckinghamshire HP5 2SE

Bankers

Lloyds Bank PLC 25 Gresham Street London EC2V7HN

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of The Princes Risborough Centre Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

6

THE PRINCES RISBOROUGH CENTRE LIMITED (REGISTERED NUMBER: 08021841)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Approved by order of the board of trustees on 27[th] November 2025 and signed on its behalf by:

M Walsh - Trustee

7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE PRINCES RISBOROUGH CENTRE LIMITED

Opinion

We have audited the financial statements of The Princes Risborough Centre Limited (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows 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).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements 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 read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken during the audit:

8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE PRINCES RISBOROUGH CENTRE LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained during the audit, we have not identified material misstatements 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:

Responsibilities 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 purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

9

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE PRINCES RISBOROUGH CENTRE LIMITED

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

As a result of these procedures, we considered the opportunities and incentives that may exist within the charity for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the charity operates in. focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Charities Act and local tax legislation.

10

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE PRINCES RISBOROUGH CENTRE LIMITED

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charity's ability to operate.

Audit response to risks identified

As a result of performing the above, our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Other matters which we are required to address

The financial statements for the year ended 31 March 2024, forming the corresponding figures of the financial statements for the year ended 31 March 2025, are unaudited as the director’s claimed exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Bradbury Accounting Services Limited The Annexe 164 Chartridge Lane Chesham Buckinghamshire HP5 2SE

27[th] November 2025

11

THE PRINCES RISBOROUGH CENTRE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 March 2025

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE
ACCOUNT) FOR THE YEAR ENDED 31 March 2025
Notes

INCOME AND ENDOWMENTS FROM
Donations and legacies 3
Charitable activities
4
Day care
Total

EXPENDITURE ON
Charitable activities
5
Day care
NET INCOME/(EXPENDITURE)
Transfers between funds
14
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 31.3.25
31.3.24
Unrestricted
Restricted
Total
Total
funds
funds
funds
funds
£
£
£
£
39,063
-
39,063
877,878
779,397
-
779,397
777,754

818,460
-
818,460
1,655,632
796,588
20,543
817,131
743,326
21,872
(20,543)
1,329
912,306
-
-
21,872
(20,543)
1,329
912,306
2,089,695
309,733
2,399,428
1,487,122
2,111,567
289,190
2,400,757
2,399,428

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

12

THE PRINCES RISBOROUGH CENTRE LIMITED (REGISTERED NUMBER: 08021841)

STATEMENT OF FINANCIAL POSITION

31 March 2025

STATEMENT OF FINANCIAL POSITION
31 March 2025
Notes
FIXED ASSETS
Tangible assets
10
Investments
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
Unrestricted funds
14
Restricted funds
TOTAL FUNDS		 31.3.25
31.3.24
Unrestricted
Restricted
Total
Total
funds
£
funds
£
funds
£
funds
£
590,745
284,422
875,167
806,188
500,000
500,000
144,348
144,348
255,871
899,979
4,768
904,747
1,385,968
1,044,327
4,768
1,049,095
1,641,839
(23,505)
(23,505)
(48,599)
1,020,822
4,768
1,025,590
1,593,240
2,111,567
289,190
2,400,757
2,399,428
2,111,567
2,089,695
289,190
309,733
2,400,757
2,399,428

The financial statements were approved by the Board of Trustees and authorised for issue on 27[th] November 2025 and were signed on its behalf by:

M Walsh - Trustee

The notes form part of these financial statements

13

THE PRINCES RISBOROUGH CENTRE LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 March 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Investment
Net cash used in investing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 31.3.25
£
31.3.24
£
153,370
825,389
153,370
825,389
(134,591)
(140,033)
(500,000)
(634,591)
(140,033)
(481,221)
685,356
1,385,968
700,612
904,747
1,385,968

The notes form part of these financial statements

14

THE PRINCES RISBOROUGH CENTRE LIMITED

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 March 2025

1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM
Net income for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
(Increase)/decrease in debtors
Increase/decrease) in creditors
Net cash provided by operations
2.
ANALYSIS OF CHANGES IN NET FUNDS
Net cash
Cash at bank and in hand
Total		 OPERATING ACTIVITIES
31.3.25
31.3.24
£
£
1,329
912,306
65,612
54,991
111,523
(169,179)
(25,094)
27,271
153,370
825,389
At 1.4.24
Cash flow
At 31.3.25
£
£
£
1,385,968
(481,221)
904,747		 ACTIVITIES
31.3.25
31.3.24
£
£
1,329
912,306
65,612
54,991
111,523
(169,179)
(25,094)
27,271
153,370
825,389
1,385,968
(481,221)
904,747

The notes form part of these financial statements

15

THE PRINCES RISBOROUGH CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2025

1. GENERAL INFORMATION

The Princes Risborough Centre Limited is a charity limited by guarantee and incorporated in England and Wales. The address of the company's registered office is The Princes Centre, Clifford Road, Princes Risborough, Buckinghamshire, HP27 0DP. The registered charity number is 1151083.

The presentation currency of these financial statements is Sterling (£), the currency of the primary economic market in which the entity operates (its functional currency). All amounts in these financial statements have been rounded to the nearest pound unless stated otherwise.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The trustees have assessed expected future cashflows, giving due consideration to all relevant factors affecting the charity. The trustees have considered the potential impact on the charity as well as its capital resources and believe that the charity has adequate resources in place to continue in operation for at least twelve months from the date of approval of the financial statements. Consequently, the charity continues to adopt the going concern basis in preparing these financial statements.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts of revenue, expenses, assets and liabilities, and the disclosure of contingent liabilities at the date of the financial statements. If in the future such estimates and assumptions, which are based on the management's best judgment at the date of the financial statements, deviate from the actual circumstances, the original estimates and assumptions will be modified as appropriate in the year in which the circumstances change.

Income

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

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Allocation and apportionment of costs

Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.

Salaries have been apportioned in accordance with the duties to which they relate.

16

THE PRINCES RISBOROUGH CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 March 2025

2. ACCOUNTING POLICIES - continued

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - straight line - 2% Fixtures and fittings - straight line - 2%, 15% or over the lease term Motor vehicles - straight line - 15% Computer - straight line - 25% equipment

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments

The company has applied the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instrument Issues" of FRS 102 to its financial statements.

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Lease commitments

Rentals payable and receivable under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attached to them.

17

THE PRINCES RISBOROUGH CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 March 2025

3. DONATIONS AND LEGACIES

Donations
Gift aid
Legacies
Grants
Grants
Grants received, included in the above are as follows:
Unrestricted
£
Princes Risborough Town Council
Screwfix Foundation
Heart of Bucks
Buckinghamshire Council
St. Mary's Church
King/Cullimore Charitable Trust
Friends of Bourne End
Anson Charitable Trust
St Dunstans Church
Clare Foundation
INCOME FROM CHARITABLE ACTIVITIES
Activity
Lunches
Day Care
Client fees Day Care
Rent Day Care
Bank Interest
Day Care
Contribution towards
Day Care
transport cost		 31.3.25
31.3.24
£
£
38,336
24,901
727
800
-
799,130
-
53,047
39 063
877,878
Restricted
£
2024
£
250
2,500
2,347
25,000
18,000
2,000
1,600
1,350
53,047
31.3.25
31.3.24
£
£
46,088
46,231
622,994
632,413
9,720
17,940
15,040
85,555
81,170
779,397
777,754

4. INCOME FROM CHARITABLE ACTIVITIES

18

THE PRINCES RISBOROUGH CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 March 2025

5. CHARITABLE ACTIVITIES COSTS

Day care
6.
SUPPORT COSTS
Day care
Support costs, included in the above, are as follows:
Other
Utilities
Insurance
Telephone
Sundries
Administration
I.T.
Waste
Cleaning materials
Advertising
Governance costs
Auditors' remuneration
Independent examination
Legal and professional		 Direct
Support
costs (see
Costs
note 6)
Totals
£
£
£
720,619
96,512
817,131		 Direct
Support
costs (see
Costs
note 6)
Totals
£
£
£
720,619
96,512
817,131
Governance
Other
costs
Totals
£
81,001
£
15,511
£
96.512
31.3.25 31.3.24
Total
Day careactivities
£
£
23,240
26,739
5,060
8,673
9,498
6,615
9,471
3,826
7,954
6,051
6,078
1,851
3,795
3,331
4,912
5,172
10,993
17,368
81,001
79,626
31.3.25 31.3.24
Total
Day careactivities
£
7,178
£
13,764
-
1,325
8 333
2,562
15,511
17,651

19

THE PRINCES RISBOROUGH CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 March 2025

7. NET INCOME / (EXPENDITURE)

Net income / (expenditure) is stated after charging (crediting):

31.3.25 31.3.24
£ £
Auditors' remuneration 7,178 13,764
Depreciation - owned assets 65,612 54,991

8.

TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees’ expenses

In 2025 no trustees were reimbursed for travel expenses (2024 - no expenses paid).

9.

STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:		 31.3.25
£
499,301
31.3.24
£
467,145
23,359
19,526
6,782
6,462
529,442
493 133
31.3.25
31.3.24
40
34

No employees received emoluments in excess of £60,000.

20

THE PRINCES RISBOROUGH CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 March 2025

10. TANGIBLE FIXED ASSETS

COST
At 1 April 2024
Additions
Disposal
At 31 March 2025
DEPRECIATION
At 1 April 2024
Charge for year
Disposal
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024		 Freehold
Fixtures and
Motor
Computer
property
fittings
vehicles
equipment
Totals
£
£
£
£
£
509,775
425,947
148,970
4,357
1,089,049
112,286
20,000
2,305
134,591
963
963
509,775
538,233
168,007
6,661
1,222,676
65,579
102,890
110,485
3,907
282,861
10.195
37,293
17,267
857
65,612
963
75,774
140,183
126,788
4,764
347,510
434,001
398,050
41,219
1897
875,167
444 196
323,057
38,485
450
806,188

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
VAT
Prepayments and accrued income
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 31.3.25
31.3.24
£
£
64,698
69,452
3,561
916
625
465
75,464
185,038
144,348
255,871
31.3.25
31.3.24
£
£
8,253
21,884
5,212
1,547
1,347
13,705
20,156
23,505
48,599

21

THE PRINCES RISBOROUGH CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 March 2025

13. LEASING AGREEMENTS

Total financial commitments, guarantees and contingencies not included in the statement of financial position amount to £6,475 (2024 -£3,482), which relates to operating lease commitments.

14. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Designated fixed asset fund
Designated legacy fund
Investment
Restricted funds
Restricted fixed asset fund
Covid fund
Pottery class fund
Sports fund
Bourne End Wet room fund
Tail lift fund
TOTAL FUNDS		 At
1.4.24
Net movement
in funds
Transfers
between funds
At
31.3.25
£
£
£
£
1.488,262
73,427
-134,591
1.427,098
507,710
(51,556)
134,591
590,745
93,723
93,723
500,000
500,000
2,089,695
21,871
500,000
2,611,567
298,478
(14,056)
284,422
4,078
(4,078)
-
2,038
(2,038)
-
371
(371)
-
2,421
2,421
2,347
2,347
309,733
(20,543)
289,190
2,399,428
1,329
500,000
2,900,757

22

THE PRINCES RISBOROUGH CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 March 2025

14. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated fixed asset fund
Restricted funds
Restricted fixed asset fund
Covid fund
Pottery class fund
Sports fund
Sub Total Restricted Funds
TOTAL FUNDS		 Incoming
Resources
Movement
resources
expended
in funds
£
£
£
818,460
(745,033)
74,427
(51,556)
(51,556)
818,459
(796,588)
21,871
(14,056)
(14,056)
(4,078)
(4,078)
(2,038)
(2,0638)
(371) (371)
(20,543)
(20,543)
818,459
(817,131)
1,329

Comparatives for movement in funds

Unrestricted funds
General fund
Designated fixed asset fund
Designated legacy fund
Restricted funds
Restricted fixed asset fund
Minibus fund
Covid fund
Pottery class fund
Sports fund
Hydrotherapy fund
Back path fund
Bourne End wet room fund
Christmas Meal contribution
Touch Screen tablets fund
Tail Lift fund
Bourne End windows fund
TOTAL FUNDS		 At
1.4.23
Net movement
in funds
Transfers
between funds
At
31.3.24
£
£
£
£
640,854
974,952
(127,544)
1,488,262
426,056
(40,376)
122,030
507,710
93,723
93,723
1,160,633
934,576
(5,514)
2,089,695
295,092
(14,615)
18,001
298,478
16,175
(12,097)
4,078
5,901
(3,863)
2,038
371
371
1,800
(1,800)
5,100
(9,240)
4,140
2,421
2,421
(48)
48
(1,325)
1,325

2,347
2,347

18,000
(18,000)
326,489
(22,270)
5,514
309,733
1,487,122
912,306
-
2,399,428

23

THE PRINCES RISBOROUGH CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 March 2025

14. MOVEMENT IN FUNDS - continued

Comparative net movement in funds. included in the above are as follows:

Unrestricted funds
General fund
Designated fixed asset fund
Restricted funds
Restricted fixed asset fund
Covid fund
Pottery class fund
Sports fund
Hydrotherapy fund
Back path fund
Christmas meal contribution
Touch screen tablets fund
Tail lift fund
Bourne End windows
TOTAL FUNDS
Designated Funds		 Incoming
resources
£
Resources
expended
£
Movementin
funds
£
1,626,885
(651,933)
974,952
(40,376)
(40,376)
1,626,885
(692,309)
934,576
(14,615)
(14,615)
(12,097)
(12,097)
(3,863)
(3,863)
500
(129)
371
200 (2,000)
(1,800)
4,100 (13,340)
(9,240)
250
(298)
(48)
3,350
(4,675)
(1,325)
2,347
2,347
18,000
18,000
28,747
(51,017)
(22,270)
1,655,632
(743,326)
912,306

Designated fixed assets are fixed assets used by the charity that are not from a restricted fund.

Legacy funds have been set up for the legacy received during 2018 and 2019 to be used by the trustees to fulfill the charities objectives. The trustees have designated this fund for the refurbishment of the upper floor.

Restricted Funds

Restricted fixed asset fund includes all fixed assets which have been purchased using restricted funds and are being depreciated each year.

Restricted income was received to purchase a minibus for the Princes Centre and Bourne End to transport clients. This was transferred to the 'Restricted fixed asset' fund in the 2023 financial year.

Restricted income was received to allow the Centre to open under COVID 19 restrictions, the balance of this fund is being used for Centre running costs.

Restricted income was received for pottery classes.

Restricted income was received for sports activities.

Restricted income was received to allow the charity to purchase solar panels. This purchase was made partly in the 2023 year and the partly in 2024 and was transferred to the restricted fixed asset fund.

Restricted income was received for hydrotherapy session.

24

14. MOVEMENT IN FUNDS - continued

Restricted income was received for development of the back path.

Restricted income was received for development of Bourne End wet room. This purchase was made in 2024 and was transferred to the restricted fixed asset fund.

Restricted income was received as a contribution towards energy costs.

Restricted income was received as a contribution towards the Christmas meal for users of the Centres.

Restricted income was received for the purchase of touch screen tablets. This purchase was made in 2024 and was transferred to the restricted fixed asset fund.

Restricted income was received for the purchase of a tail lift for the Centre’s van.

Restricted income was received for the replacement of the windows at Bourne End. This purchase was made in 2024 and was transferred to the restricted fixed asset fund.

15. RELATED PARTY DISCLOSURES

A trustee of The Princes Risborough Centre Limited is also a trustee of King/Cullimore Charitable Trust. During the year a grant of £25,000 was received as disclosed in note 3.