Charity registration number 11600S3 (England and Wales) Company regl$tration number 09183931 SEASONS REHABILITATION CENTRE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
SEASONS REHABILITATION CENTRE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees MrHSGill Mrs A Clarke Mr L Khera (Appointed 30 May 2023) Charity number (England and Wales) 1160053 Company number 09183931 Roglstered office 46-50 Lysways Street. Walsall United Kingdom WS13AQ Auditor BK Plus Audlt Limit8d urri House Walsall Road Aldridge Walsall England WS9 ORB
SEASONS REHABILITATION CENTRE LIMITED CONTENTS Page TNstees' report Slatement of trustees. responsibilities Independent auditorfs report statement of financial activities Balance sheet Statement of cash flows 10 Notes to the financial statements 11-20
SEASONS REHABILITATION CENTRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JANUARY2024 The trustee5 present their annual report and financial statements for the year end8d 31 January 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the fjnancial statements and compty with the eharitys goveming document, the Companies Acl 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland <FRS 102) (eff8Ctive 1 January 2019)" ObjeiveS and actlvlties The charity's objedive is to provide treatment for alcohol and drug addiction and there has been no change in this during the year. The treatment is provided within a residential environment which is CQC registered and regulated. sin initial registration, Seasons has been inspected once, on the 27 November 2018 and received an overall rating of Good. Treatment programmes range from 1 week to 24 weeks, with the duration of aftercare ranging from 4 weeks to 9 months. This indudes the provision of Counselling, mentsl health care, physical health care and day care. The charity also provides aftercare support for persons that have completed their treatment programme and are transitioning back into the community. Strategias for achieving aims and objectives staff are in recovery from addiction and th8refore the mix of professional care delivery, high quality clinical care and empathy allows for residents to identify and meet their treatm8nt objectives, which is abstinence from all substances following a holistic 12 step spirituallpsychologlcal therapeutic programme. Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achlevements and pèrforniance Significant a¢tivth8s and achievements against objectives Over the course of the year the charity has supported a further 41 dients on a charitable basis. Approximately 81% of the 38 dients completed their personalized detoxification programme and went on to remain drug-free. 4 of these clients have and continue to volunteer at Seasons in order to 'give back, and also to gain some work experience, Relations beeen the charity and Walsall Council (CGL - The Beacon Integrated Substance Misuse SeNice) and Dudley (CGL - Atlantic House Substance Misuse Service) have Continued. The charity ¢ontinues to work with the West Midlands Police Service to support prolific offenders. This programme is Called 'Offender to Rehab,, In the lasl 12 months we have admitte¢*5 of their clients. Over the last year the charity has also been accepted on to the West Midland framework, for CGL and ntInueS to work and acopt referrals from the National framewor The charity endeavors to maintsin strong relationships with all its referrers. In the last year we have begun working with another 3 private referral agencies to continue to ensure a steady flow of referrals to the Centre.
SEASONS REHABILITATION CENTRE LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 Finan¢lal revlew During the year the funds generated ex¢8eded the resources expended, resulting in a surplus for the year of £31,151 (2023- £788). The d1clOr$ and trustèes are satisfied with the results for the year and expect the position to continue to improve in the forthcoming year. The charity, with the aid of sound financial management and the support of both its staff and volunteers. plans to continue the activities outlined above in the fOrthrnIng years, and hope lo see improved results next year. ReseNes policy li is the policy of the charity that unrestricted funds which have nol been designated for a specffjic use should be maintained at a level equivalent lo bee@n three and six month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charitls current activitie$ while consideration is given lo ways in which additional funds may be raised. This level of reserves has not been maintained throughout the year. Inpai funding sources Incom8 comes from 3 main sources: 1) Treatment privately funded by patients., 2) Local authoritieslagents refer patients for treatment- 3) The charity funds treatment for patients. Maiorrisks The trustees have assessed the malor risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Fadors likely to 8ffect futu financial p&rfomiance The trustees continue lo evaluate the chantys ability to continue to operate on an ongoing and foreseeable basls. At the time of approving the financial statements. notwithstanding the net assets of £46,250 (2023 - £5,499), they hav8 a reasonable expectation that the charity has adequate resources, togelhèr with the support of the directors. to continue in operational existence for the foreseeable future. Thus the Irustees continue to adopt the going concem basis of a¢¢ounling in preparing the Trustees annual report. Structurei governance and management The charity is a company limited by guarantee, incorporated on 20 August 2014 and registered a$ a charity on 20 January 2015. Th8 company wa5 establish8d under a Memorandum of Association which 8Stablished the objeds and powers of the company and is governed under ils Arti¢le$ of Association (as amend8d by a Special Resolution on 4 December 2014). In the event of the company being wound up. members are required to contribute an amount not exceeding £2. The trustees, who are also the directors for the purpose of company law. and who served during the year and up to the date of signature of the ffinancial statements were.. MrHSGill MrsAClarke Mr L Khera (Appointed 30 May 2023) Recruitment and *9ppointment of truste8S
SEASONS REHABILITATION CENTRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 The dlrectorn ol Iho c•ny arg also charfty tN81098 thg purp03810l dwrfty law and undei the compwrf• Artldes arn 81 m8mbgT8 01the ManHgoment Commllleo. All rnembern olthe Manag8nwnt CommlttBe glve thelrllme lUrIalYand ieGelv8d no benelh8 Imm the dwrhy. The Management C0Thee seeks to ensure thal the needs ol tho peoF48 the charfty helps aro refied8d Ow the dlverdlty of th8 truslee body. The mm tradllknal buslnoss and rnedlcal skllls are wel reprosenied on Iha Management cunnde0. In an efft to malntsln th1$ Ixoad Gkm mlx, membern oftha Managemenl C¢mmlii8e are ièquestèd to provid8 a W of tholr skJifs (and It yoar) al kn the event of partlcular skllls belng losl due lo rn1lremty. Indl¥lduab er• approached to offer Ihom$8l¥e$ forelecuon lo Ihe Managomgnt Cornmlttee. The Rehabllilallon CenlJe has a ManagemeTrl CnmItte9 of to fve members, who moet quartedy and respsIble fw tho straleglc dir¢th and polky of the tharty. Al pftsent the Convnltteo has fN¢ mwnbets from a varfety of professlonal backgrounds relevant kn th& ofthe tharfty. Tho Seryice5 Manw has fyspon6ibillty for the day lo day op8ratlon81 m8nageTrxrt of tho Contr•. kKllvldual supewffjlon of the staff leam and al80 en5uiing that thg team contiTrJe to develop Ihetr skllls and workthg wacltcas In Ilno wlth good w8Ctlce. Audllor In aco)rdanc8 wilh the companys artkles. a resohJtF)n pmp)slry thai BK Plus Umlled nied as eudiiorofthe comp8ryvAI be put at8 General Meen9. Tho biie8* report was approved ty tho Board of TNstag5. Mrg A Clarke TN$lee 6 December 2024
SEASONS REHABILITATION CENTRE LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 JANUARY 2024 The trustees. who are also the directors of Seasons Rehabilitation Centre Limited for the purpose of company law. are responsible for preparing the Trustees, Report and the financial ststements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requlres the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charlty and of Ihe inming re$our¢es and application of resour¢e$. including the income and expenditure, of the charitable Company for that year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistentty: - obseNe the methods and principles in the Charities SORP., - make judgements and estimates that are reasonable and pwdent" stste whether applicabFe UK Accounting Standards have been followed, subjeGt to any material departures disclosed and explained in the financial statements., and prepare the finan¢ial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records thal disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensur8 that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
SEASONS REHABILITATION CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SEASONS REHABILITATION CENTRE LIMITED Oplnlon We have audited the financial statements of Seasons Rehabilitation Centre Limited (the 'charity') for the year ended 31 January 2024 which comprise the statement of finan¢ial activiiies, the balance sheet, the statement of ¢ash flows and notes to the financial statements, induding significant accounting poll¢ies. Th8 financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Repothng Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the ffinan¢ial slatements: give a true and fair view of the state of the tharitable companys affairs as at 31 January 2024 and of its in¢oming resources and application of resources, for the year then ended,. have been properly prepared in accordanc8 With United Kingdom Generally Accepted Accounting Pra¢tice; and have been prepared in a¢¢ordance with the requirements of the Charities Ad 2011. Basls for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilthes for Ihe audit of the financial statements section of our report. We are independent of the charity in acrdanCe 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 fijlfilled our other ethical responsibilities in a¢¢ordance with these requirem8nts. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going ¢oncern In auditing the financial statements, we have concluded that the twstees. use of the going ¢on¢ern basis of a¢untIng in the preparation of the financial statements is appropriate. Based on the work we have perfonned, we have not identified any material uncertainties relating to events or conditions that, individualty or collectively, may cast significant doubt on the charity's ability to ¢ontinu8 as a going con¢em for a period of at least twelve months from when the financial slatements a authorised for issue. Our responsibilitie5 and the responsibilities of the trustees with respect to going concem are described in the relevanl sections of this report. other Infomiation The other information comprises the information induded in the annual report other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other infonnation and we do not express any fom of assurance conclusion thereon. Our responsibility is to read the other infomation and, in doing so, ¢onsid8r whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otheise appears to be materially rni$stated. If we identify such material inconsistencies or apparent material misstatemenl$, we are required to detemiine whether this gives rise lo a material misststement in the financial stalements themselves. If, based on the work we have performed, we conclude that there is a material misststement of this other informalion. we are required to port that fact. We have nothing to report in this regard.
SEASONS REHABILITATION CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SEASONS REHABILITATION CENTRE LIMITED Matters on which we are requlred to roport by ex¢epllon We have nothing to report in respect of the following matters in relation to which the Charities (A¢¢ounts and Reports) Regulations 2008 r8quires us to report to you if, in our opinion: Ihe infonnation given in the financial statements is inconsistent in any material respect with the trustees. report., or sufficient accounting records have nol been kept., or the financial statements are nol in agreement with the a¢¢ounting records., or we hav8 not received all the information and explanations w8 require for our audit. Responsibilities of Iru8tee$ As explained more fully in Ihe statement of trustees, responsibilities, the truslees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial slatements and for being satisfied that they give a true and fair view, and for such internal control as the trustees detern)ine is necessary to enable the preparation of financial statements that are free from material misstatement, wh8ther due to fraud or error. In preparing Ihè financial statements, Ihe trustees are responsible for assessing the charity's abilty to continue as a going concern. disdosing. as applicable, matters related lo going concem and using the going ¢on¢em basis of accounting unless Ihe trustees either intend to liquidate the charitable company or to ase operations, or have no realistic altemative but to do so. Auditorfs responsibilitie$ for the audit of the financlal statements We have been appointed as auditor under sedion 144 of the Charities Act 2011 and report in accordance with the Act and relevant r8gulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that indudes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in a¢cordance with ISAS (UK) will ahvays detect a material misstatement when it exists. Misstatements can arise from fraud or error and are Considered material rf, 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. IegUlarities. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. From the preliminary of the audit, we ensure our understanding of the entity is up to date. This includes, but is not limited to, current knowledge of Iheir activities, the business and control environments, and their compliance with Ihe applicable legal and regulatory frameworks. This information supports our risk identification and the subsequent design of audit procedures to mitigate those risks: ensuring that the audit evidence obtained is sufficient and appropriate to support our opinion. In response to the risks identified, specific to this entity, we designed procedures which included, but were not limited to: Enquiry of management and those charged with govemance around actual and potenlial liligation and Reviewing minutes of meetings of those charged with governance, rf available: Reviewing fjnancial statement disclosures and testing to supporling documentation to assess compliance wilh applicable laws and regulations., Auditing the risk of management override of controls, including through testing joumal entries and other adjustments for appropriateness, and evaluating the business rationale for s1gnrfint transactions outside the normal course of business.
SEASONS REHABILITATION CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SEASONS REHABILITATION CENTRE LIMITED A further description of our responsibilities is available on th8 Financial Reporting Council's website at.. https.'Il www.fr¢.org.ukJauditorsrespon$ibilities. This description fomis part of our auditorfs report. Other matters Your attention is drawn to the fact that Ihe charity has prepared financial statements in accordance wilh "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)" (as amended) in preference to the Accourrting and Reporting by Charities.. Statement of Recommended Pra¢ti¢e issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice. Other matters whl¢h we are required to address This is a first year audit engagement and as such, the comparative figures are unaudited, and we provide no assurance over them. SLrfficient opening balance work has been pefft)med lo enable an unqualified opinion over the current year figures. Use of our report This report is made solety to the ¢harlty'S trustees, as a body, in accordance with $8ciion 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the charity's twstees those matters we are required to state to them in an auditor's report and for no other purp086. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Christopher Hession C.A Senlor Statutory Audltor For and on behalf of BK Plus Audit Limited Chartered Certified Accountants Azzurri House Walsall Road Aklridge Walsall WS9 ORB England Date-. It
SEASONS REHABILITATION CENTRE LIMITED STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY2024 Unrestrlctsd Unre5trictsd funds funds 2024 2023 Notes Income from: Charitable aclivilies Investments 1,183,333 930.045 Total income 1.183,337 930,046 Expendfture on: Raising funds Charitable aclivities 9,823 1,142,563 49,326 879.932 Total expendlture 1,152.186 929,258 Net Income and movement in funds 31,151 788 Re¢onclllatlon of funds: Fund balances al 1 February 2023 5,499 4,711 Fund balances at 31 January 2024 36,650 5,499 The statement of financial adivities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activitie5.
SEASONS REHABILITATION CENTRE LIMITED BALANCE SHEET AS AT31 JANUARY 2024 2D24 2023 Flxed assols Tangible assets 12 32.225 37.955 CuTr•nt a888t8 Debtors Cash at bank and in hand 13 38.300 57.563 69.800 29.112 95.863 98.912 Credltor*: amounts falllng due wlthln Oll• yoar 15 173.732) (106,020) Not curront asMt•l{Ilabllltl•s> 22,131 (7.108) Totsl J•8ét•1818 currnnt Ilabllltl•s 54.356 30.847 Cradltors.. #mounts falllng du• after mor• than on• y••r 16 (17.706) (25.348) N•t amots 36.650 5,499 Thè funds of the eharfty UnStricted funds 18 36,650 S.499 36.650 5.499 Thè company Is entiil8d to th8 exemption from the audll requirement (x)nlained In seclton 477 011he Companies Acl 2006. for the year énd8d 31 January 2024. The directors aCknOedge their resp(sIbilItIeS for comptying with the requirements of the Companies Art 2006 The members have not requlred the company kn obtsln an audit of its financial stat8rn8nts under the requirements of the Companies Act 2006. lor the year in que5ts.on In accordance with sectton 476. These flnanclal stalemenls have been prepared in aC(anCe wilh the provisions applicable lo companies 5ubjecl to the small companies regime. Tha fInan slAtamanls waro approved by the iwst£e8 on 6 D8rAmber 2024 MrHSGill Trustoe Company registration number 09183931 (England and Wales)
SEASONS REHABILITATION CENTRE LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2024 2024 2023 Notes Cash flows from operating a¢tivitie$ Cash generated from operations 20 40.924 40.171 Investing activities Purchase of tangible fixed assets Investment income received {5.012) (7,862) Net ¢a¥h used In Investing actlvltles (5,008) 17,881) Financing activities Repayment of bank loans (7,465) {9,822) Net cash used In flnancing activities <7,465) (9,822) Not in¢roa8è in cash and cash equivalents 28,451 22,488 Cash and cash equivalents at beginning of year 29.112 6,624 Cash and cash equivalents at end of year 57.563 29,112 10-
SEASONS REHABILITATION CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY2024 Accountlng pollcles Charlty Infommtlon Seasons Rehabilitation Centre Limited is a private company limited by guarantee in¢orporated in England and Wales. The registered office is 4&50, Lysways Street, Walsall, WS13AQ. Uniied Kingdom. 1.1 Accounting Conventlon The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 20C6 and 'Accounling and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in a¢¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" The charity is a Public Benefrt Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charty. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements hav8 been prepared under the historical cost convention. The principal accounting policies adopted are sel out below. 1.2 Golng concern At Ihe time of approving the financial statements, the trustees have a reasonable expectalion that the charity has adequate resources to conlinue in operational existence for the fOseeable future. Thus the trustees continue to adopt the going COnM basis of accounting in preparing the financial statements. 1.3 Charitable fvnd$ Unrestricted funds are available for use at the discretion of the twstees in furtherance of their charitable objectives. Restricted funds are subject to specific ¢ondilions by donors or grantors as to how they may be used. The purposes and uses of the restrl¢ted funds are set out in the notes to th8 financial statements. Endowment funds are subject to spe¢ific condttions by donors that the capital must be maintained by the charity. 1A In¢omo Income is recognised when the charity is legally entiued lo it after any pefftim)ance conditions have been met. the amounts can be m8asured reliably, and il is probable that income will be received. Cash donations are recognised on receipt. Other donations are COgnised once the chartty has been notified of the donation, unless perfomance conditions require deferral of the amount. Income tax recoverable in relation to donalions reiVed under Gift Aid or deeds of covenant is recognised at Ihe time of the donation. Lega¢ies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 11
SEASONS REHABILITATION CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y 2024 Ae¢ountlng pollcles (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefft to a third party, it is probable Ihal a transfer of economic benefits will be required in settlement. and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direci costs and shared costs. including support costs involved in undertaking each adivity. Direct costs attributable to a single adivty are allocated directly to that activty. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned belween those activiti.es on a basis consistent wbth the use of resources. Central staff costs are allocated on the basis of timè spent. and deprecjation charges are allocated on Ihe portion of the asset's use. Expenditure is accounted for on an a¢¢ruals basis and has been included under expenses categories that aggregate all costs for allocation lo activities. Where costs cannot be diredly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and indude project managemènt carrted out at the Headquarters. Govemance Costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. 1.6 Tangible fixed a88et8 Tangible fixed assets are initially measured at cost and subsequently measured at Cost or valuation, net of deprecialion and any impairm8nt losses. Depreciation is recognised so as to write off the cost or valuation of assets less Ihelr residual values over their useful lives on the following bases: Fixtures and fittings 250A reducing balance The gain or loss arising on the disposal of an asset is determined as the differen between Ihe sale proceeds and the carrying value of the asset, and is recognised in the statement of financial adivities. 1.7 Impairn)ent of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to deterniine whether there is any indication that those assets have suffered an impainnenl loss. If any such indi¢ation exists, the recoverable amount of the asset is estimaled in order to detennine the extent of the impairfflent loss (rf any}. 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at Gall with banks. other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shtxvn within boffowings in current liabilities. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the charity's balan sheet when the charity becomes party to the ¢ontractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the finan¢ial statements, when there is a legally enforable righl to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 12-
SEASONS REHABILITATION CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 A¢counting poli¢le8 {Continued) Bask financial assets Basic financial assets, which include debtors and cash and bank balan¢es, are initially measured at transaction Pri inciuding transaction costs and are subsequently carried at amortised cost using the effeclive interest melhod unless the aangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted al a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basit flnancial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction pri unless the arrangement constitutes a financing transaction, where the debt instrument is measured al the present value of the fvture payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rale method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as Cuent liabilities if payment is due withih one year or less. If not. they a presented as nQn-cuent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognltlon of financial liabilitles Financial liabilities are derecognised when the charitls contractual obligations expire or are discharg8d or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in Ihe period in which the employee's seNices are received. Termination benefits are recognised immediately as an expense when the charity is demonslrably commiited to temiinale the employment of an employee or to provide termination benefits. 1.11 Retirement benefits Payments to defined contribution retirement benefft sGhernes are charged as an expense as they fall due. Crltical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required lo make judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readity apparent from other sources. The estimates and assoaated assumplions are based on historical experience and other factors that are considered to be relevant. Actual resulls may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basi5. Revisions to accounts'ng estimates are r8cognised in the period in which Ihe estimate is revised where th8 revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 13-
SEASONS REHABILITATION CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 Charitable a¢tivities 2024 2023 Incoming resources within charitsble adivities 1.183,333 930,045 Income from inve8tmonts Unrestrlcted Unrestrtcted funds funds 2024 2023 Interest re1vable Expenditure on raising funds Unre8tricted Unre8tricted fund$ funds 2024 2023 Fundraising and publi¢ty Advertising Other fundraising costs 9,623 32,659 16,667 9,623 49,326 14-
SEASONS REHABILITATION CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 Charltable activities 2024 2023 Staff costs Depreciation and impainnent Food and refreshments Rent and rates Support services Insurance Heat and Ilght Repairs and maintenance 439,605 10,742 51,664 121,378 36,228 16,032 46,363 39,791 444,786 12,652 35,114 114,203 13.421 11,155 54,481 9,314 F 11 Printing and stationery Telephone Legal and professional Sundry expenses Bank charges and interest Motor expenses and travelling Computer expenses Consultancy fees Commissions 7,528 9,841 4,434 4,849 1,764 1,146 758 141,741 193,728 5,509 5,628 2,067 4,366 1,594 56 238 120,359 39,719 1.127,592 874,662 Goveman¢e costs 14,971 5,270 1,142,563 879,932 Net movement in funds 2024 2023 The net movement in funds is ststed after thargingl(crediting): Fees payable for the audit of the charity's financial ststements Depreciation of owned tangible fixed a55ets 9.600 10,742 12,852 Auditorfs remuneration Fees payable lo the charty's auditor and associates: 2024 2023 For audit services Audit of the financial statements of the charity 9,600 Trustees None of the tSteeS (or any persons connected with them) received any remuneration OT benefits from the charity during the year. 15-
SEASONS REHABILITATION CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Truslees (Contlnued) Rent of £33,61)0 (2023 - £31,250) was paid during the year to 2SK Investments Limited, a company owned by Mr L Khera, a trustee and director of the charity from 30 May 2023. Rent of £54,000 (2023 - £56,250) was paid to KhÈra & Khera Limited, a company owned by Mr L Khera, trustee and director of the charity from 30 May 2023. 10 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number 20 20 Employment ¢08ts 2024 2023 Wages and salaries Social security costs Other pension costs 410,546 21,250 7,809 411,378 25,272 8.138 439.605 444,786 There were no employees whose annual remuneration was more than £60,000. 11 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 16-
SEASONS REHABILITATION CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 12 Tanglble flxed assets Flxturgs and flttlnus Cost At 1 February 2023 Addiiions 105,286 5,012 At 31 January 2024 110.298 Depreciation and impairnient At 1 February 2023 Depreciation charged in the year 67,331 10,742 At 31 January 2024 78,073 Carrylng amount At 31 January 2024 32,225 At 31 January 2023 37,955 13 Debtors 2024 2023 Amounts falling due wlthln one year. Other debtors Prepayments and accrued income 38,300 38.300 31,500 38.300 89.800 14 Loans and overdrafts 2024 2023 Bank loans 27,706 35,171 Payable within one year Payable after one year 10,OOQ 17,706 9,823 25,348 The loan is a 6 year bounce back loan from Barclays Bank. The interest rate is fixed at 2.5•A. Monthly repayments are approximately £833 per month. 17-
SEASONS REHABILITATION CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 15 Crodltors: amounts falllng due wlthln one year 2024 2023 Notes Bank loans Other tsxation and social security Other creditors Ac¢ruals and deferred income 14 10,000 32.345 13.047 18,340 9,823 76,650 11,047 8,500 73.732 106.020 16 Crndltor¥: amounts falllng duo aft•r more than one year 2024 2023 Notes Bank k)ans 14 17,706 25,348 17 Retlrement beneflt schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respect of defined contribution schernes 7,809 8,136 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the stheme are held separately from those of the charity in an independently administered fund. 18 Llnrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated fund5 which have been set aside out of unrestricted funds by the trustees for specifi¢ purposes. At 1 February 2023 Incoming Rosourcos At 31 January sources expended 2024 General funds 5,499 1,183,337 {1,152.186) 36,650 Previou8 year: At 1 February 2022 Incoming Resource$ At 31 January resources expendèd 2023 General funds 4,711 930,048 (929,258) 5,499 19 Related party transa¢llon$ Transactions th relatsd partles During the year the charity entered irrto the following transactions with related parties.. 18-
SEASONS REHABILITATION CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 19 Related party transactions Icontinued) Rent of £33,600 {2023 - £31.250) was paid during the year to 2SK Investments Limited, a company owned by Mr L Khera, a trustee and director of the charity from 30 May 2023. Rent of £54,000 (2023 - £56,250) was paid to Khera & Khera Limited, a company owned by Mr L Khera, a trustee and director of the charity from 30 May 2023. The following amounts were outstanding at the reporting end date.. Amounts owed to related parties 2024 2023 Key management personnel 13,047 11,047 Included in creditors due within one year is £13,047 <2023 - £11,047) which is owed to Mr L Khera, a dire¢tor and Iwslee of th8 charity from 30 May 2023. The following amounts were outstsnding at the reporting end date.. Amounts owed by related Amounts owed by related parties parties 2024 2023 Balance Balance Net Net other related parties 38,300 38.300 38.300 38.300 38.300 38,300 38,300 38,300 Induded in debtors is £38,300 (2023 - £38,300) which is owed to the Charity by 2SK Investments Limited, a company of which Mr L Kher8 is dire¢tor. Mr L Khera is a trustee and director of the charity from 30 May 2023. 19-
SEASONS REHABILITATION CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 20 Cash generated from operatlons 2024 2023 Surplus for the year 31,151 788 Adjustments for. Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets (4) 10,742 (1) 12.652 Movements In worklng ¢apltsl: Decreasel(increasel in d8blors {Decrease)fincrease in cr8ditors 31,500 {32,465) (31,501) 58,233 Cash generated from operations 40,924 40,171 21 Anatysls of ¢hanges In net fundsl{debt) A¢ 1 Fobruary 2023 C•$h Ilw At JI January 2024 Cash at bank and in hand 29.112 28,451 57,563 Loans falling du8 Within one year Loans falling due after more than one year (9.823) (25.348) (177) 7,642 (10,000> (17,706) (6,059) 35,916 29,857 -20-