COMPANY REGISTRATION NUMBER: 09544512 CHARITY REGISTrATION NUMBEH: 1163539 The Elmhurst Foundation Company Limited by Guaranlee Financial Statements 31 March 2024 Chartered accounlants & slalulory auditor Midway House Slaverton Technology Park Herrick Way, Staverton Cheltenham, Glos. GL51 6TQ
The Elmhurst Foundation Company Limlted by Guarantee Flnanclal Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the directors, reporti Independent auditorfs report to the members statement of financial activities (including income and expenditure account) 11 statement of financial position 12 statement of cash flows 13 Notes to the financial statements 14
The Elmhurst Foundation Company Limlted by Guarantee Trustees. Annual Report Ilncorporatlng the DSre¢tors' Report) Year ended 31 March 2024 The Iruslees, who ar¢ also the directors for the purposes ol ¢ompany18w. present their retK)118nd th8 rinancial statements ol the charity for the year ended 31 March 2024. Reference and &dminlstratlv& detalls Reglstered chadty name The Elmhursl Foundabon Charity reglstratlon number 1163539 Company reglstratlon number 09544512 Principal offlee and reglstered Combe Glove offlcè Biassknocker M115 Monkton Combe, Balh BA2 7HS The trustees MrDCox Mr S Waterffield Miss H Aylward-smllh Auditor Harper Sheldon Limilod ChaTtered Éccountants & statutory auditor Midway House Slavorton Technology Park Herrick Way. Staverton Choltenharn, Glos. GLS18TQ Strueturè, governance and management The Charily'.q gc>verning document is'memorandum and Articles, which was incorporated OD 15th April 2015. The charity tnaintains accounting re¢ords and reconciles the bank for the Incorporated Charitablè Company. The Charity Commlssion 8ell-assessment checklist is used on an annual basis lo evaluate the charity'8 perfoFmance. ThE charity also assesses ils purpose, mission and values against thè Charity Gommission'&'hallmarks' of 8 good charity. Helen Aylward-smith oversec5 the day-t(Iday managgm8nl ol the chaiity, no decisions ale dElegaled to non-Iru8tees, bul some admini8lratlon Is. The charity adopts a policy in respect ol reasonable expenses in relatn lo duties c81ried out by the Trustees and other5 In respect olTr1181affair8. To d8t8 no Trustee expènse5 h8ve been el8imed or pald. The trustees meet on a regular basi5, Wth minules taken ol the meetings lo record matt81s discussed and decisions made. An annual financial review meeting is held, whe[8 thè kceounls, annual return and annual report are dis¢u$5ed. Thè eharily also reas5e55e5 Its purpose and achievements each year at that rneeling.
The Elmhurst Foundatlon Company Llmlted by Guarantee Trustees. Annual Report {Incorporating th8 Dlr8Ctors' Report) fcontlnu8d) Year ended 31 March 2024 Oblecllves and activitles The Charlly's governing docurnèni Memorandum and Artic8. In¢orporatgd 15th Aprll 2015 sets tho object5 as belng °lo Ivrther such charity tsi charllles or such charllable purp058s as Ihe trustees shall from lirne 10 t1me in their absolulo discielion deterrnine., The Trustees delefFnlne lo align th8 objects Ol th8 ICC with the Elmhufst Foundation Charftabl& Trust charity no 1128479. In March 2017 Ihe Trusloos of the Elmhu¥sl Foundalion ICC ieceived funds by way ol a grant from the EITnhJrst Fovndalton Charltable Trust, lo purchas8 thè asseis and busSness known As Cornbe Grove Manor Hote1 in Bath, England. Thls property will en8bl8 both charities to lullil the airn5 Df the Chaitsble Trust whkh are s18ted.. To provide a range ol apprentCa8hips for the local comtnunlty. a chdce ol di8uplines Including busln8ss subjects. hospitality subjects atKI estate and grounds maTrageiHpnl subjects. Creatlng Ihtsse appr8ntic8shlps determine$ Ihg ne8d lo draw on the local COMMUlty to engage and r8cruil tnentor8 th 9Xtens experlence In thelT chosen fleld, lo mentor appr8nllc8s In Ihelr subjects. To share bts capacity and learfjlng lor Publ ben81it with Ils eommunlty locally- sp8cINcally nelghbouling charilles with similar puip05es, lo whDtn thls would b8 helpful. 5trateg1¢ report Th? lollowing sections lor a¢hiwerneTrls and perfomance th fingnci81 ieview lonr tho strateuEC rep.¢y1 Df th8 charlty. Achlevemènts and perlormance Th8 Elmhurst Foundallon was sel up by Helen Ayfv4ard-Smllh In 2008 with the ¢harllabie objectives OF advancing kffi)wl8dgg and educatlon ol public h?aSlh and wellbelng, sharing this knowledge gnd its bengfils with the local community and cr8aling a Tangp DI hlgh-quality apprenticeshlps foi Eocal people. In March 2017. Tho Elmhurst FoundallDn became thg guardlan ol The Catnb8 Grov8 Estate In Bath, 811owlng il lo begin to re&lise 115 atTrbillon5 and objectn18S. Promotlng and expondlng knowledge In publlc health and wellbelng &nGe launching The Re5idenllal mela1 He2llh Programmes in 2023 Cornbe Grove have wdcomed ov8r 200 cli8nis to the esta19 to reset thelr tnetabolic health. Th8 l&r51 cohort5 havB now cornpleted thelr one year supported programme wlth Inltlal results showlng rn8da1IY meanlnglul chat¥Jes in Thg 10 Markeis of MEtaboll¢ Health, Clients are 8ble lo be memb8rs of Th8 Combè Grove Communlty loi Lllg th a nurnber ol Indkvlduals chooslng io return to slay with us rnuluple tlmes throughout the year as as th81r support partnBr in conlinuiTrg to optlmise and mainlain Iheii MetabollG Hedth. Two new speclalist Melabcslk Health Progrkmmes, Conqu8Ting Fonxj Addlctlon and Insulin Optimlsation lor Type 1 Diabetes have b&en introdu¢ed with radlcd hBahh and wellbglng ben8fi1s exporlenced by part1panIs.
The Elmhurst Foundation Company Llrniled by Guarantee Trustees. Annual Report (Incorporating the Dlrectors, Report) (contlnuedl Year ended 31 March 2024 Aehlovements And performance (conllnuvd) Supportlng th8 local cornmunlty Combe Grove has ostabllshed a hlghly successful Metabolie Hèalth WètAnar 58rles vvhich supports Iho community and Dutreach objecilves ol The Elmhursl FOUndatn. These luGaLlonal sessions enablg us lo broad8n our roach and incr8asè awareness ol m9tabolic heatth end related Ilelds. Locd resklents, memb&rs and palt9nls ol Tho Sulis Hospllal have been alteThSing regular publlc health 8ducation évents hetd at Combe Grov8 in oollgboratlDn wlth Sulls. Consullanl sp8cialisls hav8 shared their éxpertt88 across a range ol subjects from c&idlovasculai d15èaso lo manopause dongsid8 speakers from Thp Combe GrDve Pract1 Team to 8xpand knoWdge In these knportant pubuc hegllh areas. Apprentlcoshlps Th8 apprenlice5hp acadetny is developing lo support 90 perpetual apprentIShi in ihr&e years li¥ne. W8 offer ènriched appreniiceships across tho breadth ol th6 work we do at Combe Gillv8 with qualmicatlons Irorn Lèv812 to Levd 7. Dudng thelr tlme al Combe Grove the apprentkes, bengllt from an added three-rnonth perlud ol further learnlng and hav8 OPPOrtuni1188 foi work 8xperl£nEe wlthin dllfgr&nl s8ttings oiganSsallons lo broaden Bnd deepen learninu oppoilunllie5. The Eltnhursl Foundatson has slartad to form partftershlps ilh local GhariliÉs and pywalèly-owned buslnesses who are thouuhHul ol Ihoir contrlbution to the and ItBpa¢t on thE* 8nvironm8nl, lo help us develop thls purpose. supporting Ihe Elmhurst Foundatlon, rgsidential and local memb&rs, nelghbours, Irl8nd$ and volunteers all provKle th8 ln1raslruolu and financial ffleans lo eTr5ure the charitable objectives conlinyo lo be mel. Comb8 Grova. The UK'S Flrst Metabollc Health Cgntre CL)mbo Grove offers a range ol compreh8nsivg M&labolic Heallh Programmas lailor8d for local residents. vlrtual partlclpanis and ¢llenls who slay al Cotnbe Grove as part ol their louiney lo Re88t and Restor8 thr Metabolic H8allh. DavdDPgd by kadlng medral, nutritional and movement spg¢iallsts, 8ach progiatnme Is grnded In The 5 RoDls ol Melaboli¢ HeaithTkl Nutrlllon. Movemenl, Sle&p, Environment and Mltx15et. The iourn8y lor each ellenl beulns wllh a Ihorough Metabdlc HeAlth Check assesslng 10 Markers ol Melabolic H8aSth to galn an I$ah1 into how well their body 15 functionlng. Thls cmcial data informs a porsonalised consullallon wlth a dedlcaled Metabdic Hpallh Coach. Togelher, the ¢llenl and coach create a tailored 5 Roots Plan, 5eltlThJ achlevable goals lor susi&ned Improvem&nt across all 19n melabollc rnarkgrs.
The Elmhursl Foundatlon Company Limited by Guarantee Trustees, Annual Report Ilncorporallng Ihe Dlr8Ctors' R8port) IGohllnuEdl Year ended 31 March 2024 Achlevements and perfornianco [coJJllnu8d) The Comb8 Giov• Estat8 Th8 Estate's rornarkabl8 88tt1nu In Baih Is c6nir81 to1ts mL8slon 4th 70 aeres ol ¥Id woodland and meadDW DV8rloDking th8 Limpley Stok8 Va118y. This selling enables Glients lo benefit Ifom piogommès which inl&grale Iho resloralivg power of natur8 alongsid8 th8 L4test m8dical r8search. Our hub lor movement siis wilhin Ihe Coach House, As part ol the Combe Grovg 5 Roots, movgmenl, at èW8ry c8pabllity and age. Is cared for by a team ol hlghly qualllied coaches and prolessionat trainers covering an 8Xt8nsiv8 118t ol classe5 and COUFse5, wllh 6qulpmènt chosen lor Ils quauly And Brlllsh credentyal5. Our movemenl speclallsts support each cllent lo optlmise Ihelr movement root, guidlno them In their perEonalised pn lo ireaS2 movÈment u111Ing all our facilit8 across thè 8Stat8. This includ88 our ancient WODLlland, tpnni5 Courts, swimmirKJ pooL8, gym, sayna, steam room and 70 classes a w8ek. Flnancl81 rfjvlew These accounts include a full yearts activity al Comb8 Grov8, with a d8ficil 01 £13,02712023.. £589,194 surplus) after all IradlrKJ activities ond donations rocoivod. Tho charity had assets ol £10,455,643 12023.. £10,386,196) and liabilitl8s of £5,141,36212023'. £5,008,888) at th8 balance 8h981 data. Tru8tees' respon8lbllltl8$ $tatemenl Th8 trusteg$, who ar8 also directors loi Ihe purpose5 01 cotnpany law, are re5PDn5ible loi preparing the liuslees, report and the linancial slatom8nts In accordare wth applicable law and United Klwdom Accounting Standards (Unitéd Kingdom G8n8rally Acc8pl8d Accounbng Pr8Cticel. Cotnpany law rBquire5 the charlty Iiuslee5 ID pare flnaiiGial 51alemenls for Èach year whlch giva a true and IAlr vlew ol the state ol affairs ol the charitable company and the Incomlng resources and applicatk>n of resourc8s. Includlng the In¢ome and eKpeNJilure. lor that period. In preparing Ihesa financial slatemenls, the Irust88s ale r8qulred to.. S8lecl suilable accountlry polic5 and then apply thern wnslstenliy., Dbserve the methods and prlnclpl88 In th8 appllcab18 Charfti8s SORP,. akg judgments and aclltIng estitnale5 that are reasonable and wudenl., state wh81h&r appllcabl8 UK Accounting Standards have bBen followed, subleel lo any material departures disclosed gnd explained In th8 fin8nclal $18t8tnents', pr8parg th£ Ilnancial statOtRents the going concern basis unle85 it 18 Inappropriate tD presutn& Ihat the chartywill contlnu6 In buslness. The Iruslees are responslLle lor keern9 adequate accountlng records thal arg sulfl¢lent to show and ?xplain Ihe chaiity's IransaCtnS and disclos8 wilh raasonab accuracy at any lim8 th8 linaneial position ol the charily and enable them lo onsurc Ihat Ihe financlal slaletnonts comply Mrilh th& Companles Act 2006. They are also responsible lor salaguarding the ass81s ol the charily and h8nc8 lor taklNJ reasonÈble steps lor the prevenllon and detection ol fraud and other IrTegularilles.
The Elmhurst Foundation Company Limited by Guarantee Trugtees, Annual Report Ilncorporating the Dlreclors. Report) (Conllnued) Year ended 31 March 2024 Audllor Each ol the pwsons who is a Iru51Fe at thè date ol approval ol thls report conlirrns Ihat: so lar as th8y are aware, there Is no relevant audit infDrmalon of whlch th& charills auditor Is unawara. and they have tak8n all steps &levantr4TrJ' info ought lo have takèn as 8 Irusiee to make Ihemsefv8s aware ol nd to establish that the charlttys audllor Is aware of Ihat tnation The trust on14Ja 8. annual r uary 2025 I lincorpor gned on b ing the directors, ieportl and the slratsuic report were approved hall ol the board of Iru5t88s by.. issH Tr
The Elmhurst Foundation Company Llmlted by Guarantae Independent Auditor's Reporl to Iha Members of The Elmhurst Foundatlon Year ended 31 March 2024 Oplnlon We have audi18d th8 flnanclal statements ol The Elmhurst Found81ion Ith8'chartyJ lor the year ended 31 March 2024 whlch compr188 the stalefflEnt DI Ilnanclal a¢livilles Ilncludbng Incom8 and expendlluie accounll, statement of IancIal PDsilion, statèment ol cash flows and Ihe rolatod note5, including a summary o15kJnill¢anl accounting polic185. Thè ff nanclal reportlng framgwork Ihal h88 been applied In Ihe1r preparallon is applkatle law and Uniled Kingdom AG¢ountlng Standards, including FRS 102 Tho nancial Reportlng Standard appllcablg In the UK and Republ1¢ of Iresand Iunltèd KlngdDm G8n8rally Acc8Pt8d Accounllng Pradlcel. In our opinKJn lh8 linancial statemeTrts.. glve a true and fair vi8w ol the slate ol the charlvs allalrs as at 21 March 21Y24 and of Ils Incomlng resources and applicatlon ul rosources, Including ils Income and 8xpenditure, for thE year then ended., have been proFedy pr8p*ed in accordance with United Kingdom G8n8rally Acc8Pt8d Acc(xJnllng Pra¢tlce', have been prepar8d In accord8nc8 wlth the requliements ol the CornpaDies Act 2006. Basls for oplnlon Wo conducted our audit in accordance wllh International StaThYards on Audltlng IUKI IISAS IUKII and applKable law. Our 18sw>nsibilllies under thosè standards aT8 further d8scrib8d In the audltorfs sponslbllltigs lor thg audll ol the IlnaTrclal 5talemonls se¢llon ol our report. W8 are Indèpendent ol the charity In accordance With the ethicd reqLurements Ihat ar9 relovant lo our outht of the financl statetnenls in Ihe UK, including the FRC'S Elhlcal Standard, and we have fulli118d our other elhical responslblNlies in ac¢ordan¢o with thes8 requiremènls. We be11eve Ihat the audit evldgnce we have obldwd Is sulllclent and approprlat8 to prOde a basks lor Duf DnIon. Concluslons rel8llng to golng concem In audi15no th8 financial siat8tnenls, we have conclijded Ihal the trusle8S' U88 01 th8 goit¥J concorn bAsls ol accounllng in Ihe preparallon ol the flnanclal 5talemenls 59 approprfale. Based on the work we have pertormed, we hav8 not idenllfled any mater1 uncertalnlles ielatlro to gV8nts oi conditions that. individually Dr CDllactnl8ly, may cast significant doubl on thè charills aknlity to conllwg as a golng concern lor a peiiod ol al least twehfe months from when the flnanclal statements ar8 authorised for Issu&. Our responslbllili8s and the r8sponslbilltl8s ol the truslees with respect lo golng CO8[ descrlbed In the relevant seclioTr8 01 this report.
The Elmhursl Foundatlon Company Limited by Guarantee Independent Audltor's Report to Ihe Pjlernbers of The Elrnhurst Foundatlon Year ended 31 March 2024 Other Inlormatlon Thg olhgr Inlormaiion cotnpii5es the informatK)n included in Ihe annual report, other than the lirtancial slalements aThJ our auditorfs rgpoil theieon. The tiustees are re5PDnglble lor the other information. Our Dpln1on on Ihe Ilnanclal statements does nol cover the other InlorThalion and, exGepl lo èxlènl olhefwise explidlly staled In our r8POrt, w8 dD nol 8xpr8S8 any form ol assurance concluslon thereon. In conneclion with our audlt ol the linanelal stalem9nls, our responsibilty 18 to r8ad lh8 Other Inlumalion and, in doinu so. consider whelher the other inlormalSon is matorlally inconsislenl with Ihe Ilnanrlal slalgmenls or our knowledg8 obialned In the audil or olhemise appears to bg trta18ri0lly mlsstated. 11 we identify such malerfal incon51stenGles or apparent materlal mlsslatamenls, we are requSr6d lo dglermine wheth8r Ihgr8 Is a material mis51ateTnent Ihe Ilnanckl slat&ments or a malerfAI mlsstalement ol the other information. 11. based on the work we have pprformed, we conclude that there is a rndterlal mlsslatement ol this other inlorrnalion. we are requlred lo report that fact. We have nothing to report in Ihls regard. Oplnlons on olher mallers preyBrlbed by the Companle5 Act 2006 In our opinion. based on th& Work undertaken in th& cours8 01 the audlt.- the Inlormallon gfven In the trustees, rfyport for Ihe financlal year lor whlch Ihp Ilnandal 5talemenls are prepared Is consistent with the flnanc181 sta18menls,' and the Iruslee5' report has bgèn prepared in accDrdanc9 With apICabl leg r8qulr&ments, Mallers on whlth we ore requlred lo report by exception In the Ilaht DI Iho knowledge and und8rslandirKJ of tho charity and ils envlronment obtained in Ihe course ol the audll, we hav9 not Identifled materlal rn158tatem6nt$ In the trustees, report. Wa havè nothlng lo report In respecl ol the lollowng matlgrs In rglallon to wNch the Co[npates Act 2006 iequir8s us to r8porl to youll, in our oplnion., adequatg accounfjng records have not been kepl, or rgturns aduate for our audll hav8 not bèèn recew8d froffl branch8$ not vlsited by us., or the financial statetn8nt5 are rx)I In agreement with the accounting 18cords and returns,, or csrtaln (JsclDsures ol trustees, remunerallon specllied by law are not rnad8', or W8 have tM)t recetved all the inlormatK)n and explanations we require for our audit.
The Elmhurst Foundaiion Company Llmiled by Guarantee Ind8p8nd@nt Audltor's Raport to the Members ol The Elmhufgl Foundation (contlnued) Year ended 31 March 2024 Responslbllltles of trustees As explalnEd more fully in lh8 Iruslees, r8sponsibiliti8S Statomenl, tho tnJstee$ (who #re 50 the dlrectors lor th? purposes ot company lawl are r88ponslbl8 lor th8 preparatlon ol the Iln8nclal stalemenls and lor being satislied that they give a Iru8 and fair view, and for such Intern control as the trustees dèlermlne Is necessary to enable thg preparation ol linan¢ial 8laloments that are liee from tnalerial rnisstatemenl whether due to fraud or error. In preparing the financial slalemenls, the irustEes are responsible lor a55P551ng Ihe Gharlly's ablllty lo ¢onllnu& as a going concern. disclosing. 98 gpplicable, rnallers related lo going concEin and uslng the golng ¢on¢ern basls ol accounlin9 Unl& th8 tru818es 8ilh8r Intend to Ilquldkt8 th8 charity or to cease operaUons. or havg r¥D rea¥$lic allernatlvg bul lo do so. Audllor's résponslbllltles for th8 audll of the flnancial stat8m•nt5 Our ublec15ves aré to ablain reasonaN8 assuranc8 about wh8th8r th¢ Ilnanclal statements as a whole are free from materlal mlsslalgmenl, whethei due lo fraud or error, and to Issu8 an audltor's report that Includes our opinion. Reasonable assurance is a hh level ol a55uiance. bul is not a guaranlee that an audlt conducled In accordance wilh ISA8 IUKI wlll always det1 a Enolerial tnlsslal6ment when It ex15t5. M15slat&ments can arls8 from fraud or 8rror and ar8 consk18r8d tnalertal if. indlviduaKy or In lh8 aggregate, they could reasonably be èxpocl8d lo influ8nce the 8conomic d8C18ions ol user8 taken ott the basi5 tr1 these Ilnandal slatemenls, Irrularl11es, including fraud. 818 instances of non-compllance wlth laws and regulallons. We deslgn procedur&>s in lino wilh our respon5ibililies, outllned above, to dgloot material misstalemenls in respect ol Irregularitigs, including fraud. The exlenl to which Dur piocgdures are capable of delectlThJ irregularilles, including Iraud 1$ d8tai18d below.. Our approach was a5 follows.. We obtalned an und8rstandlng ol Ihe legal and reoulatory requlremenls appl¢able to th& charlly and Considered the most 8ignificatSt are the Compaftles Act 2006 and UK Financial reporting Standards. We oblalned an underslandlng of how the cornpany cornpli8s wllh t58 regulatlons by discusslons with management, W& assessed th8 rL8k ot malerial mlsstatement ol the financi stalernents, including the risk ol matarlal tnlssslaletnent due to Iraud and how It mlght occur, by holdlng dls¢ussions 1h management. We Inw5red of rnanaugTnent as to any knojyn inslance5 01 norFcompllanc£ or Suspected non- comrance wllh laws and reoulallons. Based on Ihls underslandlng, wè dèslgned speclfl¢ audlt procedures to Identlly Inslanc&s ol non- COmFAi8nce with laws ar reguktion5, This Induded makiry enquirias of manag8m8nl and oblaintng corroborativ& evidence as requlred.
The Elmhurst Foundation Company Llmlted by Guarantee Independent Auditor's Rèport to the Mèmbers of The Elmhurst Foundatlon (CDnllRued) Year ended 31 March 2024 As part ol an audll In accordance with ISAS IUKI, we 8xarcise prof8ssional judgrn8nt and Thainlain prolesslonal scepllcism throughout the audit. Wg al.. Identify and assess the rlsks of material mlsstatsment ol the financial statgrnenls. whether due lo fraud or prror, desSgn and perform audit proureS responsive lo those risks, and obtain audll evldence that is sullicient and appropriiile lu pruvid¥ d basis Ivr vur tspinlan. Thd risk ol not d81ecting a Mat1 misslatement resulting from fraud is hher than lor one resulllng from erior, as fiaud rnay invo6 colluslon, lorgory. Intentlonal omlsstons, mlsroprasenlatlons, or the ovorrlde ol Inlern81 control. Obtain an und9r¥tandlfig ol Internal control idgvani lo the audit In order to clesign audlt procedures that are approprlat8 in th8 clrcumstancas, btsi not lor purpriso ol expresslng An opSnion on thE) elleclivenass ol the intornal control. Evaluate the appropriateness ol accounting poIleS used and Ihe iea50nablene55 ol accounlitvJ estlmates and related dlsclosur95 mad8 by th8 trustees. clL]ude on th& appropriat&n&ss ol th8 Irus1888' us8 of the going conc8in basis ol accounting and, based on Ihg audit ovklonco obtained, whethcr a rnalerial uncertainty exists related lo events 01 conditions that may cast sloniflcanl doubt on th8 charity's alIty to continue as a going concern.11 we conclude that a materlal un¢grtainty gxlsts. we are ¥equir8d to draw attgntion in our audllDr's repo¥t lo IhÈ rèlated disclosures in the financial slalements Dr. if such disclosures are inadequale, to rnDdily our opinion. Our ¢tIs1OnS are based on the audil ovidenco oblalned up to the dale ol our audllor's report. However, lulure events or conditions may cause the charlty lo C8a88 to Gontlnuè As a golng concorn. Evalu8le the overall presenlatlun, 5tIUGlure arbd tonlenl ol Ihe financial statements, Includlng the dlsclosure5, and whether the Ilnanclal statements repre5enl Ihe underlying liansa¢lions and 8V8nts In a mann6r that aehl6ves lair presenlallon.
The Elmhurst Foundation Company Limited by Guarantee Independent Audllor's Report to the Members of Tho Elmhursl Foundalion (GOJJllnuedl Year ended 31 March 2024 We communicat8 With Ihose charged with governance regarding, 8tnong other tnatte15. the plannEd scope and timing of the audtt and slgnllkant audlt Ilndings. incknding any slgnillc8nl deficlencles In internal oontrol Ihal w8 identify during our audlt. Use of our report This rgPOrt is made 501ely to the Gharlly's mèmbèrs, as a body, in accordanc8 wllh Chapter 3 01 Part 16 ot the Compani8$ Acl 2006. Our audit work has been undertaken so that W8 rnight st&18 10 thè eharlws members those rnatters we are requlred to slate lo Ihem in an audilors report and lor no other purpose. To thé lullgsl 8x18nt P8rtnitt8d by law, we do not accgpt ov assume re8pon8ibilily lo anyone other Ihan the charily aThl tho charivs tnetnbers as a body. lor our awlll work. lor Ihls report, or lor11 oplnlons we havo lormod. James Harper IS8nior Stalulory AJItOrI For arKI on behalf ol Harper Sheldon Limlted Chartsisd CountantS & statutory ali10r Mldway House S14verton Technology Pa H£rrKk Way, SlavgrtDn Ch8llenhain, Gk)s. GL51 6TQ 10
The Elmhurst Foundatlon Company Limited by Guarantee Statement ol Flnanclal Actlvltles (includlng Income and expenditure account) Year ended 31 March 2024 2024 Unrestiict8d funds Total funds 2023 Total funds Not8 Income Ènd endovéments Donallons and legacigs Olher Iradlng activities Olher Income 2,100,OOD 1,402,240 2,100,OQO 1,402,240 2.391.277 913,909 1,750 3,306.936 Total income 3,502,240 3,502,240 Expendltur8 Exponditure on ralslng funds.. Costs of other tradlng aGllvltlès Total èxpendliurè 3,515,267 3,515,267 3.515.267 2,717,742 2,717,742 Nel18xpendiiur•ylneom8 ab)d net movèment In fund$ 113.0271 113.0271 589,194 R8conclllatlon of funds Total IiJrKls broughl forward Tolal funds carrl8d forward 5.327,308 5.314,281 5,927,308 5,314,281 4,738,114 5.327,308 Th8 5tatEtnent ol 1Sniinclal acllvllies includ85 811 gains and lossss re¢ognlsed In the year, All irtomè and expendllure derive Irotn contlnulng adthll85. Tho not¢s on pages 14 to 22 form pgrt of thesg Iln8n¢kl s1oiÈmeni& 11
The Elmhurst Foundation Company Llmlted by Guarantee Statement of Financlal Poslllon 31 March 2024 2Q24 2023 NotÈ Flxed assets Tangrbl8 fix8d ass&ts 12 10,152,182 10,029,524 Curreni ass5 Stocks Dobtors Cash 81 bank and In hand 13 14 18,207 103,042 182,212 303,461 9,975 105,826 190,871 306,672 CredltoTs'. amounts tolllng duè wlthln one year Nel current Ilabllltles 1S 3,341,245 3,037,784 7.114.398 3,070.798 2,764,126 Tolal asse1$ les$ current11obllllie5 7,265,398 Credrtoys.. #mounts lalllng due after more than onè yèar Net asselg 16 1,8(K>,117 5,814,281 1.938,090 5.327,308 Funds of the chttrlty Unre51Iltled funds 5,314,281 18 5,314,281 5,327,308 5.327,308 Total o Thesè lin January 2 ial stal and al ents slgned approvtxl by the board Df trustee5 and aulho¥lsed for Issue on 14 behdf ol the board by.. Aylward. The noles paues 14 to 22 fomi part ol these 1Snanelal 51gtemgnls. 12
The Elmhursl Foundation Company Llmited by Guarantee statement ol Cash Flows Year ended 31 March 2024 2024 2022 Cosh Ilows from operatlng actlvltles Net18XP8ndlturelllncome 113,0271 589,194 AdjustnnIS lor Depreciation ol tangible fixed assets Aeorued expenses 327,754 73.128 282,788 53.257 GhangES In.. Slo¢ks Trad8 and Dlh8r deblo Trade and other cr8dltors 18.2821 2,784 117,338 499,745 499,745 3.583 18,0401 105,987 1,026,769 1,026,769 Cash generated from operallons Nèt cash from op8rating actIVe$ Cash Ilows fiom Investlng 2cilvliies Purchase ol tangible as5els Net cash used in invesllng adwi1Tr8s 1450,4121 (772,0761 1450,4121 1772,0761 Cash Ilows from tlnanelng acllvltleg PrDceyd5 from borrowings Payments ol finance loase Ilablllles N81 cash used IR flnanGlng a¢livili88 130,0241 1131,4721 127,9881 12,502 157,9921 1118.97CY) Net IdecreaseWTncrea80 In cash and cash equlval8nts Cash and cBsh equlvalents at beg5nnlng of year Cash and cd9h equlvalenls al end of yo8r 18.6591 190,B71 135,723 55,148 182,212 190,871 The notes page8 14 lo 22 lorm p¥rt ol Iht$e flnanclal statam8nt8. 13
The Elmhurst Foundalion Company Llmlted by Guarantee Not8S to th8 Flnancial Statements Year ended 31 March 2024 Ganaral Information The charity is a public benellt entlty and a private company Ilmlted by guarantee. gIstered In England and Wales and a registered chaiily In Englond and Wales. The address ol the reg15tered officè Is 37 St. GoDrges Road, Chèllenham, Glouoeslgrshir&. GL50 3DU. statemenl of compliance Thèse Ilnanclal slat&m8nls have been prepared in cornpllancp with FRS 102, 'Tho Flnancial Reportlng Slandard applICab In Ihe UK and thè Republic ol Ireland,, th8 Stat8m$nt ol R8commended Prac11¢8 apIcable to Gharllles pr8paring their accounts in accorda[0 wilh Ihe Fin8nclal Reportlng Standard appllcable In the UK and RepU[C ol Ireland IFFIS 1021 (Charities SORP IFRS 10211 and the Compan16s Act 2006. Accounting pollcles asls ot preparntlon The financial slatements have baen prepared on the historical cost basi5. as modified by the revaluation ol cèrtain ltiiancsal assets and liAbllllies and nv88trnent properties rngasured al fair value through Income or expenditure. Ilnanclal 8tat8m8nt5 8r8 prepared In slertg, whlch Is the luKllonal CUrrY ol th8 entity. Goly)g concern The charlly continu8$ lo rely on the donatlons reced from MS H Aylward Smlih. Ms H Award Smith has indicat her willlngness to continue lo support the charity loi Ihe foreseeabl8 luture, that belng a period ol not le55 Ihan 12 months from the date ol signino thg financial statempnts. Judgements and key sources ol e311maiion uneortalnty The preparafjon ol financial statements requires rnanagetnenl lo tnake ludgements, egllmatos and assumptions that affacl atnounts reported. Th8s8 881imat95 and ludqgmenls are ¢onllnually revlewed and are based on experlence and other factors, indudlng expeotatSons ol future evonls thal 8r8 b811eved to be r8&wnat2 undei the cirGumstarK8S. Fund accounllng Unréstricted funds are availab18 lor usè al th& di5crÈlion ol thè trust88$ lo further any of lh8 charily's purposes. DeskJnated funds are unrestricted funds earrnarked by Ihe trustees IOT partiwlar futL*re prcjeBt or CDmmllmont. R8slricled funds arè subl8ct8d lo restrbllons on their exFEndlture declared by Ihe donor or through ihg terms ol an appe, and fa51 Into one ol Iwo 8ub-clgs5es: re5tr1Gted Income funds or ondowm8nt ftlnds. 14
The Elmhurst Foundation Company Lirnited by Guarantee Notes to the Flnanclal Statemènts {¢OnIthLl) Year ended 31 March 2024 Accountlng pollcles l¢ontlnty•d) Incomlng rasources All Incoming resources are Includ in thè statement ol Ilnancial actlvlllès when entlllgment has passed lo th8 ¢harily', il is probable Ibat th8 economlc benefits a8socialed wlh Ihe Iransaclioll will flow lo Iha charity and the amount can be iellably measured. The lollowing speciliG pulicios are appliEd to particular cat8goiles ol Incom8', Ineome from dDnalion5 or grants Is r8cogni8ed when there Is evidenc8 Ot entltl&menl lo the glll. receipt is probabb and Its amount can be rn8asured reliabty. legacy IncDme is r8cognl$Éd when rgc8¥)I Is probable and enlitl&menl is establlshed. Income from donated goods Is measured al the lair value ol the goods unless thLs is impracllcel lo measure reliably, In which cas8 tho value is derived from the cost lo Ihe donor or the eslimaled resal8 value. Donated facilities and g6rvlces are rQgntS8d the accounts when le1¥ed 11 the valu8 can bè reliabty tn8asured. No amounts are Ir¢luded lor Ihe conirlbulic ol gen&ral volunteers. inCOm8 from contracts loi thè suppty ol swvic8s is récognlsed with th8 delivery ol the conlracted s&rvic8. This is classllied as unro8lricted funds un16SS there 18 a contraelual requliernpnt-loi Il"lu be sp&nt on & partlcular purpose and reluined11 unspent, in which c85e il may b8 regarded as re8lrict8d. Flesoureès axpended EX[nditUre is recoonised on an accruals basis as a liability is incurred. Expandilur8 includBs any VAT whlch cannol be lylly recovereis, and Is class1118tl under headlnos ol the statement ol Ilnancigl aclNI(lès lo whlch it r81ate5'. expenditure Dn raising fund8 Includes the ¢0$ts ol all fundralslrKJ aclivitlgs, 8V8nls. n- Charl18b trading aclivllios, and Iha sale ol dona19d goods. 8xpendllure on charitabl8 activltles Inckndès all costs Incurrod by a charity in undertaklng activities Ihal lurthw its charitable alms lor tho benefit of Its beneflclarSes. irKluding those support costs and costs ralating lo the governance ol the chailly apportioned to charitable actlvitlgs. olhor eXndIture includes all &xpenthlure that is naithèr r&lalEd to raising funds for the charfty nor part ol Its expendllure on ehaiilable aotlvillas. All costs ale allocaled to expeTrdlluro ¢ategori8s rellectlng the use of th8 resource. Dlred costs attribulable lo a 8loolB activity are allo¢aled dirocity to thai actlvity. Shared costs are appDrtb)nÈd beiween Ihg aCt1lIes th8y conlrlbut8 lo on a re8sonatAB, lustlllable and con518t8ni basLs. Tanglble assets Tanglble assets are Inltlally recorded at CD5t, and subs8quenlty staled al cost less any ae¢umulated depF8clatlon and ifflpairrnpnl 1055e5. Any langib18 assets carried at rovalu8d amounts are recorded al the fair vae at Ihe date ol r&valuation less any subsequgnt accumulated d8precialion arKI subsÈquenl aCmUlated impairment Ioss85. 15
The Elmhurst Foundalion Company Limited by Guaranlee Notes to the Financial Statements Year ended 31 March 2024 Accountlng pollclos {contInu} Tanglble a8$8tS Icontlnued) An increase In th8 carrying amount DI an ass8t 88 a result ol a revaluation, Is rQgnISed In Dther recognlsed oains and losse5, unless11 reverses a charge loi Impalrment Ihat has previously been iecognlsÉd as axp&nditur8 wllhln tha slalemenl ol financial acllvllles. A dgcrease in tha carrying amDunl ol an assgt as a r8suII ol revaluatk)n. is recognised in other reoognised gains and k)s88S. 8xcept 10 wh5ch It ollsals any pievlous revthatlon gain. in which case the loss Is shown wlhin oth8r recognlsed gaSns and Sosses on the statement ol flnancial activlilos. Dspr•elatlon Deprèclatlon Is cakulated so a5 lo wilte ofl the oost or valuatlon of an asset, less Its residuel value, over the useful econom Ille ol Ihat asset as follows.. Freehold propEriy Motor vehrcl68 F5xlures, flttlngs a1 Equlpmenl 2% stralghl line 25% gtraight Ilnè IO°k- 25% 51ralght1Sne ImpalTmarti ol flxed assets A r8vi8w lor In(Ileatois ol IMpa[ent is cafrled out al gach repodlro date, wtth the rRcDv8rablo amount b8inu esiimaled where such indicator5 exlst. Wher8 tha carrwTU value exceeds Ihe rgcovoiable atnounl, the assgt is impalred accordingly. PIK)r Impairments ar8 dso reviewed lor possib18 reversal al Each rEwrting dat8. For Ihe purposes ol itnPgirThent le5tlng, when it is not posslbls to estimale th8 reeoverablo aOunt ol an lThIldaL assèt, an estlmate Is made ol the recoverable amount ol th8 cash- generating unll to which th8 asset belongs. The ¢ash-gen8rating unit is thp smallèsl identiliable group ol as9ets that includos the asset and generates ¢ash inlk)ws that largely independenl ol the cash Inflows Irom olher ass@ts or group5 01 assets. For ffrpaitncnl tesllng ol goodwill, th8 oi)odwlll acquired in a buslness combination Is, from thè acqu10 da18, alk>cated to each of lh8 ea8h-g8n8ratlng Jnits that are exp8cled to b8n8fit Irom the synergies ol Ihg cctnblnatlon, Irr9specllve of wh81h6r other assets or Ilabllilio8 ol Ihe charlty are assigned to th088 units. stocks Stocks ar8 rneasud at the lower of cost and 8811m8ted sèlllno price188s sts lo cotnplele and sell, Cost includ85 all costs ol purchase, costs Df converslon and other wsts incurred In bringlng the stock lo Ils present 5ocatlon and conditlon. Flnance leases and h1 purchasè contracts As881s h81d under Ilnance 18as8s and hlre purohaso contracts ar8 Tecognlsed In Ihe slalement ol Ilnan¢lal posltlon 8$ assels and Ilablliiles al the lowgr of tho lalr value of tho assets and the pr8$8nt vatue ol Ihs minimum k8sa paytnents, which is detertnined 81 the inceptlon ol the lèase lgrrn. Any inilial direel cosls DI Ihe18a88 ars added lo Ihe amount r8cognlsed as an asset. 16
The Elmhurst Foundation Company Limited by Guarantee Notes to the Financial Statements (conlthueLIJ Year ended 31 March 2024 Accountlng pollclas IconlhJ((edl Flnance leese$ and hlre purchèse conlracts (¢onfinuod) Lease paym8n18 ar8 apy)Ilioned bètween tha linane8 charo88 arKJ reducllon ol the outstandi lease Ilablllty usinG the effeclive inlerE51 wnetliod. Finance charg8s are allocated lo each period so as to woducè a constant Tat8 of Interesl on ihe rgmainlno balanc8 01 the liatAlity. Flnenclal Instrumen1$ A Ilnanthal asset ov a financial liabiliiy is recognised only when lh8 charity b800mes a party to the conlraclual provlslons of th8 Instrument. Bask flnancLql Instrumen18 are Inllialty recognl88d al the amount recelvabl8 or payable Ineludlng aoy rela18d ITansa¢tlon Costs. Currenl assels and cu¥ienl Ilab1111ies are subsequently rnèa$ured at the cash or other consldeialion expeeled to be paid or re¢elved and nDt discounted. Debt Instrrments are subsegU8nlly rneasured at amortlsed Cost. Wher8 investments In shares are publlY traded Dr ihthr falr value can otherwise b8 rn8a8urad reliably, th8 investment 15 subsequently measured at falr value wlth changes in lair value rècogni88d in incomè and gxpendituro, All olbei such investtTrents aro subsequenlly mSUred al cosl less lrnpairmenl. othèr Ilnancia5 Instruments, incFudlng dertIVes, are Inlllally rognISed al lak value, unlBsG P8yrnenl lor an ass is delerr8d b8yond normal Ix15ings5 lerms or linanced at a r£lo ol Interest that is not a market late, in whh case the a55et15 fflea5urBd al Ihe present valu8 of the luture payments discounled al a mwket rate of Inter851 lor a slmilar dèbt Insliumant. Other financial Instrurnents arfj 5ubsequ9nUy measur8d at lair value, with any Changes re¢ognls8d In th8 8latemtsnt ol Ilnanclal actwilles, wllh the 8xc8pllon of hedglng Inslwmenls In a desl9naled he(ing relatlonshlp, FinanciÈl assets that are measured at cost or atnortlsed ¢osl are reviewed lor objectlve Èvidence Df impairtnent at the &nd ol each reporting date. 11 there Is oblecllva evide6 of irnpairrneni. an ImpaiTffl8nt 1085 Is recognlsed und8r the approprle headFllg In the st2tern8nl of fina181 aeliwtie5 in Vlhich Ihg1nltlal galn was recogni88d. For all 8qUity instrutrtonts regardless ol slgnlllcanc8, and oth8r Ilnanelal assals that are IndIdAllY slgnificant, these are assessed IrKlivldually for irnp8lrment. Olher Ilnanclal assels are either i5¥Ssed indivKtually or giouped on the basis ol simiLgr credit risk characler15tlc5. Any reversals ol impairmgnl are iecognis8d Itntn8dlat&ly, to the exlenl that the r8V8rsal does not result In a carrylno amount ol Ihg Ilnancial asset that exceeds what the carryinu amount woukl havo been had the Impairmenl not previousty been QCDgn15Ed. Llmlted by guarantee Evèry member has guarant£ed the contrlbullons ol an arnovth, nol 8XC88dlng £1 per member, lo the companvs assets In tho event that company should bg wound up. 17
The Elmhurst Foundation Company Limlted by Guarantee Notes to the Financial Statements (conllnuedl Year ended 31 March 2024 Donallons and legacles UnT88trict8d Total Funds Unrgslricted Tolal Funds Funds 2024 Funds 2023 Donallon$ Dtsnatlons 2,1 CiO,000 2,100,000 2,391,277 2.391.277 othtrr trAdlng ttcllvltlts Unr88trlcted Total Funds Unre8trlcted Total Funds Fund5 2024 Funds 2028 Oth8r Incom8 from olh8r Iradlng aCtitS 1,402,240 1,402240 913,909 913,gOY Other Income Unrgslrictgd Total Funds Unre51ilcted Total Funds Funds 2024 Funds 2Q Grants receiv 1,750 1,7 Costs of other tradlng actlvllles Unrestrlcted Totsl Fund? unrestr1e1 Total Funds Funds 2024 Funds 2023 CD515 01 olhei Iradlng actlvltbs- Opeialing tmdltlg company 3,515,267 3,515,267 2,717,742 2,717,742 N8118XP8ndiiurelllncom8 Net lexpendiluoyincome 15 slated alter chargingllcrethlingl.. 202 2023 Depr8clalon of tanglblè flx8d as881s 327,754 282,788 10. Slaff ¢osts The total staH costs and ernoyee b8ng1115 lor the reporting p8rbd are analysed as Idlows,, 2024 2023 Waoes and salaries Other employee benellts 1,547,181 47,677 1,594,858 1,188,324 21,840 1,210.164 18
The Elmhurst Foundation Company Limited by Guarantee Not8S to Ihe Flnanclal Sla18mentS (rohllnUEdl Year ended 31 March 2024 10. Slafl costs Iccnllnuedj The averags head count ol employees during th8 y8ar was 5712023: 511. Th6 av&rago number of lull-titne eqvalent employees durlng Ihe year Is analysad as foSlows'. 2024 No. 2023 Nutnbér of staft- clionl lacing Number ol staff - administrailon Number ol staff - rnanag8rn8nt 37 10 10 31 57 51 No &tt¥ployee reGelv£d employee LDeli1$ of rnorg than £eo,000 during the year12023.' Nill. 11. TrusteB remuneratlon and e¥pen8es No IruslÉÉ rece0d any rernungra(ioR or any other benefits from employmeni th the charity or a rBEated enllly. 12. Tanglble Ilxed asset$ Freèhold property Motov vehlcles EquMent Total C081 At 1 Aprll 2023 AddltlDns 1 D,007.392 389,260 41,835 12,221 54,056 1.099,967 11,149,194 48,931 450,412 1,148,898 11,599,606 At 31 March 2024 10,396,652 Depreclatlon At 1 April 2023 Gh&rge lor the year AI 31 MAreh 2024 410,144 192,411 602.555 8,264 11,805 701.262 123,536 1,119,670 827,754 20,069 824,800 1,447,424 Carrylng amount At 31 Mafch 2024 9,794,097 9,597.248 33.987 224,098 1 D,152.182 398,70S 10,029,524 At 31 March 2023 33,571 13. Stocks 2024 2023 Flnlshed goods and goods lor yesale 18,207 9,975 19
The Elmhurst Foundatlon Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 14. Debtors 2024 2023 Trade deblors Prepaym9nls and accrued incorne Other debtors 3.445 79,727 22,654 93.235 9,807 103,042 105.826 15. Credltors.. amounts falllng due withln onè year 2024 2023 Bank loan8 and overdrafts Trade ereditors Amounts owed lo undert8king5 In which thè charily hBs a partlclpating intèrest Accruals and d9foired incotne Soclal s8curity and other taxes Obligations under finance leases aNI hire putch858 conlr8ct5 Other creditOlS Othèr credilors 274,928 208,380 321,500 240,144 2,344.000 215,971 87,552 10,193 88,553 111,868 2.204,(K)O 142,843 36.687 23,640 25,015 76,969 3,341,245 3,07CI,798 The bank loans ar¢ secured Dn the assets ol the Charity. known as Combe Grove, Brassknocker Hlll, Monkton Combe, Bath. BA2 7HS. 16. Creditor8.' amounts falllng due after more than one year 2024 2023 Bank 5oans and ov8rdraft8 Obligation8 under finance leases and hire purchase contracts 1.786,453 13,664 1,800,117 1.9CQ.905 28,185 1,938.090 The bank loans are secured on the assets ol the Charity, krnwn as Combe Grove, Brassknocker Hill, Monkton Combe, Balh,BA2 714S, 20
The Elmhurst Foundatlon Company Llmlted by Guarantee Notes to the Flnanclal Slatemenls (Gollllnu8411 YeAr ended 31 March 2024 17. Flnance leases and hlro purchBso contracts Th8 lolal lulur8 minimum lÈaÈe paymanls uThler Ilnanctr leasB5 and hire purchasB conlracls ar8 a5 follows,, 2024 2022 Not IBler than 1 year Later than 1 year and nol later than S ye8rs 10,193 13,664 22,857 23,640 28.185 51.825 18. Analysls of charllable lunds Unrestrlcted funds At 31 March 202 Al 1 Ap1 2023 IncoJne Expendituie General funds 5,327,308 3.5D2,240 13.515,267) 5,314,281 Al 31 March 202 At 1 April 2022 Incom8 Expendllure General funds 4,738,114 3.306,936 12,717,742) 5,327,308 19. Analysls of net assets betwotsn lunds Unrestrlded Total Funds Funds 2024 Tangible fixed assets Current assè18 Cr8ditors18Ss than 1 yèar Creditors gr8al8r Ihan l y8ar N8t a88918 10,152,182 10,152,182 303,461 303,461 {3,3¢1,2451 13,341,245) 11.800.117) 11,800,117) 5.314,281 5,314,281 Unr&sirlci8d Total Funds Funds 2023 Tangiblé Ilx£d assgls Cuiienl assels Creditors less than 1 year Creditors greater than l yèar Ngt assets 10.029,524 10,029,524 306,672 306,872 13.070,7981 13,070,798) 11,938,090) 11,938,090) 5,327,308 5,327,308 21
The Elmhurst Foundation Company Limited by Guarantee Notes to the Financial Statgments (wnllntsvdj Year ended 31 March 2024 20. F4nan¢ial instrumèrht$ Th8 carrying amount foi Èach category ol Ilnanclal Instrument is as lollow8'. 2024 2023 Loan commltm8nts measured at cost less Impalrment Loan eommltments measurgd at cost18S8 lrnpalrffl8ni 2,085,238 2,283,229 21. Ankly$ls ol changes In net debt At At 1 Apr 2Q23 Cash 11ow8 31 Mar 2024 Gash at bank and In hand D&bt due within on8 yettr Dgbl due aft8r on8 y8ar 190,871 12,549,140) 11,938.0901 14296.3591 18,6591 182,212 179.9811 12,629,121) 137,973 11,800,117) 49,333 14.247,0261 22