COMPANY REGISTRATION NUMBER: 09544512 CHARITY REGISTRATION NUMBER: 1163539 The Elmhurst Foundation Company Limited by Guarantee Financial Statements 31 March 2025 HARPER SHELDON LIMITED Chartered accounlants & slatutory auditor Midway House staverton Technology Park Herrick Way, Slaverton Cheltenham, Glos. GL516TQ
The Elmhurst Foundatlon Company Llmited by Guarantoe Flnancial Statements Year ended 31 March 2025 Page Trustees, annual report {incorporating the directors. report) Independent auditor's report to the members Statement of financial activities (including income and expendilure account) Slatement of financial position 11 12 statement of cash flows 13 Notes to the financial statemenls 14 The following pages do not form part of the financial statements Detailed statement of financial activities 24 Notes to the detailed statement of financial activilies 25
The Elmhurst Foundation Company Llmited by Guarantee Trustees, Annual Report (Incorporating the Dlrector5' Report) Year ended 31 March 2025 The trustees, who are also the directors lor the purposes of company law, present their réport and the flnancial statements of the charlty for the year ended 31 March 2025. Reference and admlnlstrative details Reglst•red charity name Charlty registratlon number Company registration numbèr 09544512 Principal office and reglstgred Combg Grove office Brassknockèr Hill Monkton Combe Bath BA2 7HS England The Elmhurst Foundation 1163539 The trustee5 MrDCox Mr S WalorfS6ld Miss H AylwaTd-Smith (Resigned 14 Janu8ry20251 Auditor Harper Sheldon Limited Chartered a¢¢ounlanls & stalulory auditor Midway House staverton Technology Park Herrick Way, Slaverton Cheltenham. Glos. GL516TQ structure, govèrnance and managemènt The Charity's governing docum8nt is 'Memorandum and Artides. whleh was incorporated on 15th April 2015. The charity maintsins accounling records and reconciles the bank for the Incorporated Charitable Company. The Charity Comrnissic)n self-85sessment checklist is used on an annual basis to evaluate the chariws perfomanee. The Charity also assesses its purpos8, mission and values against the Charily Commlsslon's 'hallmarks' of a gwd charity. Helen Aylward-smllh overseos the day-lo-day man8g¢menl of th& charity, no deosions are delegated to non-lruslees, bul som8 administration is. The ch8rlty adopts a policy in respect of reasonabla expenses In relation to dulles carrled out by the Trustees and others In respect ol Trust affairs. To date no Trustee expenses have b99n claimed or paSd. The trustees meet on a regular basis, wilh minutes taken of the meetings to record mallers discussed and decisions made. An annual financial review meetin9 is held. where the accounts, annual return and annugl report ar8 discussed. The Gharity also reassesses its purp058 and achievements each year al that meeting.
The Elmhurst Foundation Company Llmlted by Guarantee Trustees, Annual Report (Incorporating the Directors. Report) (Gonllnuedj Year ended 31 March 2025 Objectlves and octlvltles The Charity's governlng document Memtsrandum and Articles, ineorpDraled 15th April 2015 sets the objects as being "lo further such Charity or charities or such charitablè purposes as the truslegs shall from lime to lime in their absolute discrelion determine.. The Trustees determine to align the objects of the ICC wlth the Elmhurst Foundatlon Charitable Trust charity no 1126479. Ill MaTch 2017 thé Trustees of th8 Elmhuist Foundation ICC received funds by way ol a grant from the Elmhurst Foundation Charitable Trust, to purchase th6 assets and business known as Comb8 Grove ManoT Hotel in Bath. England. This property will enable both charities lo fulfil th8 aims of the Charitable Trusl which are sta19d'. To provide a range of apprenticeships lor Ihe Ioc81 community. in a choice of discipllnes including business subjects, hogpitalily subjects and estate and grounds management subjpels. Creating these appTenliceships del8ltnines the need lo draw on the local community lo engage and recruit mentors with extènsive oxperience in thelr ¢hosen field. lo mentor apprentices in thelr subjects. To share its capacSty and laarning lor public benefit with Its communlty locally.. SpecifallY neighbourlng charliies with similar purposes, to whorn thls would be helpful. strateglc report The folk)wing secllons for aehievements and perfomance and ffinancial review form the strateg1¢ report of the charity. Achlevements and perfomance The Elmhursl Foundation WBS Sel up by Helèn Aylward-smith in 2008 with the ¢harilab18 objedives of advancing knowledge and education of publ1¢ health and wellbeing, sharing this knowledge and its benefits with the local community and creating a range of high-qu81ity apprenticeship5 for I7 people. In March 2017, The Elmhurst Foundation became the guardian of The Combe Grove Estale in B81h. allowlng il to begin lo rèalise ils ambitions and objectives. Pramoling and expandlng knowledge In publlc health and wèllbelng Since Inlroducjng The Mot8bolic Health Programmes in February 2023 Comb8 Grove has welcomed over 700 new clienls to the Estate lo learn abokjl Iheif metabolism and the 10 Markers of Metabolic HealthTM Aft8r their initial slay clients and local members are encouraged to return often to Combe Gmve so as lo lop up their knowledge and commlttnenl lo improvin9 and to maintaining Ihelr m&labolic health. A rango of Metabolic Programrnes are offered ranging from 1 d8y, 4 days and up lo 6 days with ultiple add on optlons lo lallor and enhanc8 each dients slay.
The Elmhurst Foundation Company Limited by Guarantee Trustees. Annual Report {In¢orporating the Directors, Report) (conllNJupd) Year ended 31 March 2025 Achlevements and performance (¢onllnued) Supportlng thè local community Combe GTove has set up a series of publlc Metabolic Health Webinars, which have been very well received and very well attended. Furthef Ireg of chargé distribution is being explored. thls seri95 of talks is one of the ways in which Combe Grove supports the communily and ouli8ach. Local residents, member5 al CoJnbe GTOVO and invited guests from our lotal hospital have been attending regular PLJblic health educatlon events held al Combe Grove in 00118boralion wlth our local h05pilal. Gonsultants have shared their expertis@ across 8 range of subjects from cardiovascular dlsease lo menopause alongside speakers from The Combe Grov8 PTactice Team lo expand knOedge in these important publlc health areas. Apprenti¢e5hlps The apprenticeship academy developing lo ullimalely support 90 pgrpetual apprenticeshlps. We offer enriched apprenticeships across th8 breadth of the work w8 do at Comb8 Grov8 Wlth epprenli¢eships from Level 2 tr) Level 7. Ouring their tsm8 al Combe Grove the apprentlcès, benfyfit from 8n added three-monlh period of further learning and h8ve opportynSties for work exp8rience within different settings and organisalions to broaden and deepen18arning opportunities. The ElmhuTsI Foundation has started to form partnershlps wlth local charities and privalely-owned businesS8s who are thoughtful of Ihelr conlribullon lo the community and Impact on the gnvironment, to help u5 develop Ihls purpose. By supporting the Elmhursl Foundation, residential and lof*l mernbers. neighbours, friends and volunleers 811 provide the infrastructure and financlal means to ensure the charitable objectives continue to be met. Combe Grove-The UK'S Flrst M•tabolic Haalth Centre Combe Grove Offers a range of comprehensive Melabollc Health ProgTammes tailored for local resldents, vlrtual partiGlpanls and dients who slay at Comba Grove as part of their jourlltsy lo Reset and Restore their Melabollc H88llh.Developed by leading medical, nutritional and movement specialS8ts, each progr8mrne Ss grounded in The 5 Roots of Metabolic H8allhTM Nutrition, Movement, S19ép, Environment and MindseL The loum$y lor each client begins wrylh a thorough Metabolic Health Check assessing 10 Markers of M8tabolic Health lo gain an insight into how well Ih8ir body 18 functioning. This cruciBI dat8 informs a personalised consultation with a dèdicated Metabolic Health Coach. Together. the cllenl and coach create a tailored 5 Roots Flan. settbng achievable goals for sustained improvemenl acmss all 10 Metabolic Markers-
The Elmhurst Foundation Company Limlted by Guarantee Trustees, Annual Report (Incorporating the Directors. Report) (wntlftvedl Year ended 31 March 2025 Achiev8ments and performance l¢tsntlnuedl The Combe Grove Estats The Esiate's remarkable setting in Bath is central to its mission with 70 acres of wild woodland and meadow overlooking thè Limpley Stoke Valley. Thls setting enablos clients to benelll from programmes which integrate the resloralive power of natu alongside the latest medical research. Our hub for movement sits wsthin the Coach House. Movement is an ess8ntial part tsl each programme al Combe Grove as Movement is the second of th8 5 Roots of Metabolic HeallhThl Movement for all aggs and abilities is coached by a highly qualified team of PTofessional trainers who cover an extenslve Ilsl ol classBs and courses wllh equlpm8nt chosen for its qU81ity and credentials. Our movement specialists support each client to oplimise their movement root, guiding them In their personallsed plan lo increase movement utlllsing all our facilities acTOSS the estate. This inclkjdes our ancient woodland, tenni5 Courts, swimming PODIS, gym. sauna, steam room and 80 class8s a week. Financial revlèw Th85p accounts include a full yaarfs actlvity al Combe Grove. with a defi1 of £1.037,264 12024.. £13.027 deficit} after all trading activities and donallons r8ceived. The charity had assèts of £10.174,49312024'. £10,455,643) and liabilities 01 £5,897.47612Q24.' £5,141.36218t the balance sheet date. Trustèès. responslbllities statsment The truste@s, who are also dlrectOTS for the purposes of ¢ompany18w, are responsible for preparing the Iruslees. report and the financial statements In accordance wlth applloable law and Uni18d Kingdom AccouDtSng Standards (United Kingdom Generally Acoepled Ac¢ounling Praclicel. Company law requires th& charily trustees to prepa financial siatements for 8ach year which gwe B true and lair vW of the state of affairs of the charitable company and the incomlng resources and application of resources, including the income and expendilure, for that period. In preparing these financial stBlemenis, the trustees are required to= 591ect suitable accounting pollcles and then apply thern consistenlty. observe the methods and prfnciples in the applieable Charities SORP. make ludgm&nts and accounting eslimales that aro reasonable and prudent,. stste whether appllcable UK Accounting Standards hav8 been followed, sublect lo material departures dSsclosed and explalned In fhe flnancial stalernènls.. prepare th8 financial statements on the going concem b&sls unles5 11 is inappropriate to presume that the charity will continue In buslnes5.
The Elmhurst Foundation Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Directors, Report) (¢oRINnued) Year ended 31 March 2025 The Irusleès are responsible for keeping adequate a¢¢ounling records that are suffldent to show and explain the tharity's transadlons and dlsolose with reasonable accuracy al any lime the financlal position ol th8 charity and enable them lo ensure that the financial stslemenis comply with the Companigs Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and deleclitx) of fraud and other irregularities. Audltor Each of the persons who Ss B Iruslee al the dale of approval of Ihis report confirms that.. so far as they are aware. there Is no relevant audil informallon of which the charity's auditor is unaware., and they have taken all steps that they ought lo hav8 taken as a trustee to mak8 themselves aware of any relevant audit information and lo establish that the charlly's auditor Is aWBre of that information. The trustees. annLJal report lincorporaling the directors. report) and the strategic report were approv8d on 30.03.2026 and slgned on behalf of the board of truslees by: Miss H Aylw8rd-Smilh Trusteè
The Elmhurst Foundation Company Llmited by Guarantee Independent Auditor's Report to the Members of The Elmhurst Foundatlon Year ended 31 March 2025 Opinlon We have audited the finan¢ial slalemènts of The Elmhursl Foundation Ithe'charity'l for the year ended 31 March 2025 which comprise the slalement ol financial activities (including incom& and expendlture account), stalemenl of financial position, statement of cash flows and the related notes, including a surnmary of slgnlficanl accounting policies. Th8 Iinancial reportlng framework that has been applied in their pr8paralion is applicablg law and United Kingdom Accounling Standards, including FRS 102 The Financi81 Reporting St8ndard applicable in th8 UK and Republic of Ireland Iunlted Kingdom Generally Accepted Accounting Practice). In our opinlon the financial sta18ments'. givg a true and falr view of the state of the charlvs affalrs as at 31 March 2025 and ol ils incoming resources and application of resources, Including ils incorne and expendlture, for tho yearthen ended.. have b8Bn propedy prepared in accordan with United Kin9dorn Generally Accepted Accounllng Praclice.. have been prepared in 8ccordanc¢ with Ihe requirements ofthe Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Audlllng IUKI IISAS IUKII and applScable 18w. Our re5ponsibilitles under those standards are further described in the audilovs re5ponsibililies lor the audit of the financial sta18ments section csf our report. We are Independent of the charity in awordance with the ethical quirementS that are relevant lo our audit of the finanEial siatemenls in the UK, including the FRC'S Ethitrdl Standard, and we have ftjifilled our other ethical r8sponsibilrties in accordance with Ihese requiiements. We believe that th8 audit evidence we hav8 oblain&d Is sufficient and appropriate lo provide a basis lor our opinion. Coneluslons rèlatlng to golng concom In auditing Ihe financi81 stalements, we have concludBd that Ihg trustees, use of the going concern b8sls of accounting in the preparation of the financial slalemenls is appropriale. Based on the work we have performed, wg have not identified any maleTial uncertalnties relating to events Dr conditions that, indivUally or collectively. may cast significanl doubl on the tharity's ability to continue a5 a going concern for a period of al least twelve months from when the finanaal slalements a aulhorfsed for issue. Our responsibilities and th8 resp(>nsibilili6s of the trustees with spect lo going concern are dèscribed In the relovanl sections of this T8POrt.
The Elmhurst Foundation Company Llmited by Guarantee Independent Auditor's Report to the Members of The Elmhurst Foundatlon (wnliNJuedJ Year ended 31 March 2025 Other Inforniatlon The other Informatlon cornpiises the informatlon included in tho annual report, other than Ihe fina¢)cial statements and our audilor's report Ihereon. The Iruslees are responsible for the other inftsrmalion. Our opinion on the finanoial slalgmenls do8s not cover th8 Other infomialion and. except to the exlenl otherwise explicitly slated in our repori. we do nol exprèss any forrn of assurano8 concluslon thereon. In conneclion wllh our audit ol the financial slatemenls, our responsibility is lo read Ihg other information and. in doing 80, consid8r whelhgr the other inforfflation is materially inconsistent with the financial slalements or our knowledge obtained in tho audit or othe1$9 appears lo be materially misslaled. 11 wo identify such malerial inconsistencies or apparent material misstatements, we arg roquSred to delemine whether Ihore is a maleTi81 misstatement In the financial Statements or a material misstatem8nt of the other information. If, based on the work we have performed, we concltjde that there Is a material misstatement of Ihls other Information, w8 are required to report that fa¢1. We have nolhlng to report in th15 regard. Oplnlon5 on other matters prescrlbed by th• Companles Act 2006 In our oplnion, based on the work undertak¢n in th$ course of the audit.. the infoimation glven in the trustees, report foi th6 financial y8ar foT whlch the 1Snanci81 statements are prepared is c¢>nsislenl with th8 financial statements., and th& trustees, report has been prepared In accordance with applleable legal requirements. Matters on whlch we are requlred to rèport by •xception In th8 light of the knowledge and understanding of the charity and ils environment obtained in the course ol the audit, w8 have not identified maleriBI mi55tatemgnts in the tiustees, report. We have nothing tr) report in respect of the following matters in relalion to which Ihe Companles Act 2006 requires us lo report to you if. in our opinlon.. adequalg accounting records have noi been kepL or returns adequate for our audit have not been received from branches not wsiled by us-, or the financial statements are not In agreemènt with the acwunting records and relums., c certain di$closure5 of Irust8es' remuneration speofied by law are not made,. or we hav8 nol rec8ived all the infomation and expl8na(ions we require for our audil.
The Elmhurst Foundation Company Llmlted by Guarantee Independent Auditor's Report to the Membors of The Elmhurst Foundatlon (conllnuodj Year ended 31 March 2025 Responslbilitiès of trustees As explained more fully In th8 Irust6es' responsibilitles staltsment, tho trustees (who are also the directors for the purposes of company lawl are responsible for the pieparation ol the financial siatemenls and for being satisfied that they give a true and fair view, and for such internal control as the tiustees delemiine is necessary to enable the preparation of finandal siat8menls that are free from material mlssialemènt, whether due to fraud or error. In preparing the financial sl8temenls. the trustees are responsible lor assessing the ch8rlly's abi1Sly to continue as a going concern, dlsclosing, 38 applicable, matters related to going concern and using the going concern basis of accounting unless the Iruslees either intend lo liquidate the charity or to cease opèrations, or have no realistic allernalive but to do so. Audltor's rosponslbilities forthè audit of the flnanclal statements Our objective5 are lo obtain reasonabl8 assurance aboul whelh8r the financial slatèmenls as 8 whole ale free from malerfal mi85tatement, whether due lo fraud or error, and to issue an auditoff s report that includes our opinion. Reasonable assuranc8 Is a high level ol assurance, bul Is not a guarante8 that an audlt conducted accordance with ISAS IUKI will always d8tecl a material mlssialement whgn 11 exists. Misstal8ments can arise from l¥aud or error and are consid8red rnatsrial il, individually or in the aggregate, they could reasonably be expected to influence tha economic deoisions of users 18ken on the basi5 of these financial slatemonis. IrregularS1ies, in¢luding fraud, are Instances of non-compliance wlth laws and regulations. We design procedures in lin8 with oui rEspon5ibililies, outlined above, lo detect materi81 misslalements in respect of Irregularilias. including fraud. The extent to which our procedures are capable of deleBtSng irregularities, including fraud is detailed below: Our approach was as lollows.. We obtained an understanding of the legal and r8gulatory requirements appllcable to the charity an(J (*)nsidered the most significant are the Companies Acl 2006 8nd UK Financial reporting Standards. We oblalned an understanding of how Ihs company complies wlh these regulations by discussions with management. We assessed the risk of material misslatemenl of the financial statements. including th@ risk of material misslatemenl due lo fraud and how il might ir, by holdlng discussions with managemenL We Inquired of managernènt as to any known Inslancas of non-compliance or suspe¢ted non-compliance with laws and regulallons. Based on this understanding, we designed specific audit procedures to identlfy instances of non-eompliance with laws and regulations. This included making enquiries ol management and oblalnlng corroborative evidence as requlred.
The Elmhurst Foundation Company Llmited by Guarantee Indepèndent Auditor's Report to the Members of The Elmhurst Foundatlon (conllnuedl Year ended 31 March 2025 A5 part of an audit In accordance with ISAS IUKI. w8 exercise professlonal judgm&nl and maintain professional s¢epticism throughout the audit. We also= Idenllfy and assess the risks ol material misslalement of the financial stalemenis. whethèr due lo fraud or eiior, design and perform audit procedures r8sponsive to those risks. and obtain audit evsdence th81 Is sufficlent and appropriate to provide a basis for our opinion. Th8 T15k of not delecling a malerlal misstatement resulting from traud Is higher than for one resulting from error, as fraud may involve collusion. forgery. intentional offlissions, misrepre3entalion8, or the overrid9 of internal control. Obtain an underslanding of internal control relevant to the audit in order lo design audit procedures that are appropria18 Sn the clrcumstances. bul not for thè purpose of expressing an opinion on the effectiveness ol the internal control. Evaluate the appropriatenèss of accounllng policios used and the reasonablgness ol a¢counling estimates and related disdosLJres made by thè truste85. Concluda on the appropriateness of the trustees. use of the going concem basls of a¢counling and, based on the audit evidence oblained, whether a material uncertainly exlsis related to events or (x)nditions that may cast signifieanl doubt on the charity's ability lo eonlinLJe as a golng concem. 11 we conclude that a material uncertainly exists, we are Tequired to draw attention in oEJr auditorfs report to the rel8te(I disclosur8s in the financial sta18ments or, if such disclosures are Inadequat6, lo modlfy our opinion. Our conclusions arg based on the audil evidence obtslned up lo the dale of Dur auditorfs report. However, future events or canditions may cause Ihe chaiity to cea88 to continue as a golng concsrn. Evaluate the overBII presantation, structure and content of the financial stal8menls, including the dlsclosureg. and whether the financial statements represent the underlying transactions and events in a rnanner that achiev&8 fair pr&senlalion.
The Elmhurst Foundation Company Limlted by Guarantee Independent Auditor's Report to the Members of The Elmhurst Foundation Year ended 31 March 2025 W8 communicate wrth those Charged with governance regarding, among other matters, Iha planned scope and timing ol Ihe audit and significant audil findings, including any significant deficiencies in Internal control that we identify during our audlt. Use of our report This report Is made solely lo tho ¢haritls members. as 8 body, In accordance wllh Chaplgr 3 of Part 16 of the Cownpanies Act 2006. Oui audll work has been undertaken so that we might slate to tha charily's members those malters we are required to state lo them in an auditor's repori and for no othÉr purpose. To the fullest extènt peimilted by law, we do not accepl or assume responslbillly lo anyone other than the charily and Ihts ¢h8rltls members as a body, for our audit work, for this Teport, or for the opinions wg have formed. Jamgs Harp8r (Senior SlatuloryAudltorl For and on b&half ol Harper Sheldon Limited Chartered accountanls & slalutory auditor Midway House Slaverton Technology Park Heirick Way, Slaverton Cheltenham, GIDS. GL516TQ 10
The Elmhurst Foundation Company Limited by Guarantee Statement of Financial Actlvltles (including income and expenditure account) Year ended 31 March 2025 2025 Unrestricted funds Total funds Total funds 2024 Income and endowments Donations and legacies Olherlradlng Bctivities 1,379.499 1,704.313 3.083.812 1,379,499 1.704,313 2.100,000 1,402.240 Total Income 3.083,812 3,502.240 Expenditurè Expenditure on raising funds.. Costs of olher Iradlng 8clivilias Total expenditure 4,121,076 4,121,076 4.121.076 3,515.267 3,515,267 4,121.076 Net oxpenditure and net movemgnt Sn funds 11,037,264) 11,037,264) 113,027) Reconciliation of funds Totsl funds brought forward Total funds carrled forward 5.314,281 4,277,017 5.314,281 5.327,308 4,277,017 5,314,281 The statement of financial activi118s includes all gain5 and losses recognbsgd Sn the year. l income and expenditure derive from continulng activities. The notes on pages 14 to 22 foTm part of the80 flnavclal $tatsm8nts.
The Elmhurst Foundation Company Limited by Guarantee statement of Flnancial Position 31 March 2025 2025 2024 Flxed assets Tangible fixed assets 11 10.087,675 10,152.182 Current assèts Stock5 Debtors Cash al bank and in hand 12 13 21,686 14,7351 69,867 86,818 18,207 103.042 182,212 303,461 Creditors: amounts falllng due withln on8 year Net current Ilabllltles Total assets lèss current liabilities 14 4,190,834 4.104,016 5.983,659 3,341,245 3,037.784 7.114.398 Credltors: amounts falling due after more than one Not assets 15 1.706.642 4.277,017 1,800.117 5,314,281 Funds of the charlty Unreslricled funds 4,2TT.017 17 4.277,017 5,314,281 5,314.281 Totsl charlty funds These financial slalements were approved by the bDard of trustees and authorlsed for issua c ).032026. and are signed on behalfofthe board by.. -miss H Aylward-smlth Trustee The note5 on p8ge5 14 to 22 form part of these financial statempnts. 12
The Elmhurst Foundation Company Limited by Guarantee Slatemènt of Cash Flows Year gnded 31 March 2025 2025 2024 Cash flows from operatlng ¥ctlvltles Net expenditure 11.037,264} 113,0271 Adjtsstmenls for,. Depreciation ol tangible fixed asqe Accrued expenses 376,317 41,233 327,754 73,128 Changosln.- Sli Trade and other debtors Trade and other creditors 13,4791 107,777 19,2951 1524,7111 1524,7111 (8,2321 2,784 117,338 499,745 499,745 Cash generated from operations Net cash (used inyfrom operating activities Cash flows from Investlng activiti98 Purchase of tangible assets Nel cash used in invesUng acl'viti8s 1311,8101 1450,4121 1311,810> 1450,412) Cash flow$ from fflnan¢lng actlvill•s Proc8eds from borrowings Payments of finance lease liabilities Net cash used in financlng activi8$ 1183,Q201 110,8041 1193,824) 130,0241 127,9681 157,992j Net decrease In cash and cash oqulvalents Cash and cash equivalenls at beginnlng of year Cash and cash equlval&nts at end of year 11,030.3451 182,212 1848,133) {8.6591 190,871 182.212 Th8 notes on page5 14 to 22 form Part ofthese flnanclal 5t*ements. 13
The Elmhurst Foundatlon Company Limlted by Guarantee Note5 to the Financial Statements Year ended 31 March 2025 Genèral Informatlon The charity Is a public benefit entity and a privat0 eompany limited by guarantee, reglstered in England and Wales and a registered ch8rlty in England and Wales. The address ol the regislored officg is Cornb8 Grove, Brassknocker Hill, Monkton CorTEbè, Bath, BA2 7HS, England. statem•nt of compllance These financlal staletnenls have been Pfepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the Statement of Recommended Practice applicable lo charities preparing their anIS in accordancE with the Finallclal Reporiing Standard applible in the UK and Republic of Ireland IFRS 1021 (Charilles SORP IFRS 10211 and the Companies Act 2006. Accounting policies Basls of prèparation The financial statements have been prepar8d on th8 historical cost basls, as modSfied by the valuation of cgrtaln financial assets and liabilities and investment properties measured al fglr value through income or expenditure. The finanual slalemenls arts prepared In sterling, which is Ihe furlOn31 currency of th8 enllty. Going eoncern Th8 charity ¢ontinues lo rely on the donatlons rec8ived from Ms H Aylward Smllh. Ms H Aylward Smith has indicoled her willingnes5 to continue lo support the charity foi the for8seeable future. that being a period of not less than 12 months from the dale ol signing the flnancial slatemenls. Judgements and key sources of estlmallon uncertaSnty Th8 prepaffdtion of the financS?I slatomenls requires management lo make judg&ments, eslimates and assumptions that affect the amDunls reported. These estimates and judgements are continually r8viewed 8nd are based on experiencg and other factors, induding expectations of future events that are believed to be reasonab18 under the circumstances. Fund accountlng Unreslricled funds arg available for u58 al the dlscretion of the Iwstees lo furlher any of Ihg charity's purposes. Designated funds ar8 unreslTiCted funds earmarked by th8 trustees for particular futurs project or commitment. Restricted funds are sublec18d to r8slrlctions on their expenditure declared by thè donor or through th8 t$rms of an appeal, and fall into on8 of Iwo sub-classes.. reslricled income funds or endowmBnt funds. 14
The Elmhurst Foundation Company Limited by Guarantee Notes to the Financlal Statements Year ended 31 March 2025 Ac¢ountlng polieles I¢ttnued} Incomlng resources All incoming resources aTe Induded in the statement of financial acliville5 when entltlement has passed lo th6 charity., 11 Is PTobab18 that th8 economic benefits associated with the transaction will flow to the charity and the amount can be rÈlSably mgasured. Th8 following specific policies are appli8d to particular calegorles of income: income frorn donations or grants is recognised when Ih8re is evidence of onhllemenl lo the gift, reeeipt Is probable and its amount can be measured rtsliably. legacy incotre is recognised when receipt is probable and entitlement is eslabllshed. income from donated goods is measured at the fair value of the gotsds unless this is impractical lo measure reliably, in which case the value is derived from the cost lo Ihe donor or Ihg eslimaled r8sale value. Donated facilities and servlces are recognis8d in th& awjunts whèn received If Ihe valuè can be rellably rneasured. No amounts are indudèd for the contribution of general volunteers. income from ¢ontrdCts for the supply of services is recognised wllh the delivery ol the conlraet8d seNica. This is classified as unrostrlcted funds unless there is a conlrdctual requirement for il to be spent on a partiCLJlar purpose and returned if unspent, in whlch case it may be regarded as iestricted. Resources expended Expenditure is recognised on an acuuals basis as a liability is incurred. Expenditure includes any VAT which csnnot be fully recovered. and Ss cSassified under heading5 of the ststement of rinancial activities to which11 relates.. expenditu on ralslng funds Includes Ihe costs of all fundraising activitltss, events, non-charitable tradlng activllies, and the sale of donal¢d goods. expenditurè on charil8ble activities includes all costs incurred by a charlty in undertaking activitles that further ils charitable aims for the benefit of ils beneficiarie5, Including those support cosls and costs relating to th8 governance ol Ihe charity appDrtioned lo tharilable aelivilies. other expenditure inc5udes 811 expenditure Ih31 is neither related lo raSsing funds for the charity nor part of ils expenditure on charitable aclivilies. All costs are allocaled to expenditure ca18gories reflectlng the use of th8 resource. Direct costs allributable lo a single activity are allocated diTeetly to thal activity. Shared costs are apportioned between the Bclivilies Ihey contrlbute lo on a reasonable. justifiable and ¢onsisl8nl basis. Tanglbl¢ assets Tangible assets are Initially recorded at cost, and subsequently stated al cost les5 any accumulated d9pClat10n and imp2irmenl losses. Any tangible assets carried at revalued amounts are recorded al the fair value al the dale of revaluation less any subsequent 8ccumulated depreciatlon and subsequ8nt accumulated impaimienl10550s. 15
The Elmhurst Foundatlon Company Llmited by Guarantee Notes to the Financial Statements {wnllnu8d) Year ended 31 Mah 2025 Accounting policles l¢ontlnuodJ Tangible assets {¢onllnued) An increase ID the carrying amount ol an asset as a result of a revaluatlon, Is recogn15ed in other recognis8d gains and losses, unlèss il reverses a charge for impairm6nt that has previousty been r8cognised as expenditure within the statement of financial aciivilies. A decrease in the cairying amount of an asset as a result of revaluation, is recognised in other recognlsed gains and losses, excepl lo which il Dffsels any previous revaluation gain. in which case the loss is shown within other recognlsed gabns and losses on the statom&nl of financial aclivitles. Depreclatlon D8precialion Is calculated so as lo wdle off the cost or valuation of an asset. less Its resldu81 value, over the useful economic lile of that asset as follows.. 20A straight line 250/0 slraight line 10VD- 25¥0 straight line Freehold property MoloT V8hicles Fixtures, flltlngs and equipment Impairmont offixed assets A rèview lor indicators Df impaiTment is carried oul al each reporting date. with the recoverable amoLJnt being estimated where such indicators 8xlst. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingSy. Prior impalrmenls ar8 also reviewed for posskble reversal al eaoh reporting date. FOT the purposes of Impairment testing, when it is not possible to estimate the recoverable amount of an individual as591, an osliin8te is mado ol the recoverable amount ol the cash-generaling unil lo whlch Ihe asset belongs. The cash-generaling unil is the smallest idenlifi8b1e group of assets that includes the asset and generates cash Inflows th81 IBrgg independent ol the cash Inflows Irotn other assets or groups of assets. For imp8lrmenl lestlng ol goodwill, the goodwill acqulred in a buslness combination is, from the acquisition dale, allocated to ea¢h ol the cash-generallng unils that are expected to beneflt from the synergies ol the comblnalion. irrespective of whether othèr assets oi Ilablliti85 of the charity are assigned lo those units. stocks Stocks are measured at the lower ol cost and estimated selling pricè less costs to comp18te and sell. Cost includes all costs of purchase, costs of conversion and olh8r costs incurred in bririging the stock lo ils prent location and condition. Finance leases and hire purchase contracts Assels held under f1nancè leases and hire purchase wntracts are recognised in the slalernenl of financial position as assets and 1SabS1ities al the lower of the fair value of tho assets and the present value of the minimum leasg payments, which is determined at the Inception of Ihe18aso term. Any initial dir8cI costs of the lease are added lo the amount recognised as an ass8t. 16
The Elmhurst Foundation Company Llmlted by Guarantee Notes to the Financlal Statements Iconthuodj Year ended 31 March 2025 Accounting pollcles (conunuedl Flnance leases and hlro purchasè contract5 fconthue Lease payments are apportioned between the finance charges and reduction ol the oulslanding lease liability using the èfteclive interest rnelhod. Finance ¢harges ar8 allocated to each p8rfod so as lo produce a con8lanl rate of interest on th8 Tetllainin9 balance of the liability. Financial instruments A financial asset or a financial liability is recognised onty when the charity be¢omes a parly to the contractual provisions of the instrument. Baslc Ilnancial InstrmentS ar8 Initially recognised al th6 amount receivable or payable induding any related transaction costs. Current assets and current liabilities are subsequently measured al the cash ¢x oiher considerallon expected lo be paid or received and nut discounted. Debt Instruments are subsequently measured at amortised co81. Where Inveslmgnts in shar85 are publlcly traded or thelr fair value (xn othèrwis8 b8 measured rèliably, the investment is subsequently measured at fair valu6 rith changes in fair value recognised in income and expenditure. other such investments are subsequ8ntly measured al cost less impairment. Olhar financlal inslrumènls. including deTNalSves. are Inllially recognised al falr value. unless payment for an asset 18 dèferred beyond normal busines5 terms or financed al a rale of inter8$1 that Is not a markel rate. in whlch case the asset 18 measured at th8 presont value of th& future payments discounted at a market rate of interest for a simllar debt inslfurnenl. oth8r financial inslrumonts are subsequently measured at fair value, with any changgs recognised in th8 5talemenl of financial activities, with the exception of hedging instruments in deslgnaled hedging r61alionship. Financlal assets that are measured at cost or amortlsed cos18re reviewed lor objective evidenc8 of impaimenl al the end of 8ach reporting date. If there is objective evidence of impairfflent. an impalrmenl loss is re¢ognSsed undèr the appropriate heading in the stalem9nl of financihl activities in vthich th8 initial galn was recognised. For all equity inslruTn9nts regardless of signlficanc8, and other financial 8ssels that a individually signifieanl, th88e are assessed individually for impairment. Other financial asseis ar8 either assessed indivldually or grouped on the basis of slmilar credit rfsk charaeterislics. Any reversals of impairment are recognlsed immedlately. lo the exlenl that the reversal does not result in a carrying amount of the financi81 asset that exceeds what the G8rrwng amount would have been had the impalrmenl nol previously been recognised. Llmitsd by guarant80 Every member has guaranteed the contributions of an amount, not exceeding £1 per memb8r, to Ihe cowpanl5 assets in the event that the company should be wound up. 17
The Elmhurst Foundation Company Llmlted by Guarantee Note5 to the Flnancial Slatements Iconlinued) Year ended 31 March 2025 Donations and lègacies unstrICted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Donatlon5 Donations 1,379,499 1,379.499 2.100,000 2,100.000 othèrtradlng actlvili•s Unrestrlcted Total Funds Unreslricl8d Toial FU$s Funds 2025 Funds 2024 Other Sncome frorn other trading activities 1,704,313 1,704,313 1,402.240 1,402.240 Costs of othertrading aetlvlties Unreslri¢ied Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Costs of other trading activities- Operaling trading company 4.121,076 4,121.076 3,515,267 3.515,267 N¥t expendlture Net expenditurè Is stated after chargSwllcredilingl.' 2025 2024 Deprecl8tlon of tangible flxed assels 376,317 327,754 staff costs The total staff c¥)sts and employee bengfits for the Tewrting period are analysed as follows-. 2025 2024 Wages and salaries Olheremployee benefits 1,912.341 48,396 1.960,737 1,547,181 47.677 1,594.858 18
The Elmhurst Foundation Company Limited by Guarantee Notes to the Flnancial Statements (conllnu Year ended 31 March 2025 Staff c05tS {contlJJUEd) The average head count of employe85 during thè year was 6312024.. 571. The average number ol full-time equivalent employg8s during the year is analysed as follows.. 2025 2024 No. Number of staff - client facing Numb8r Df staff - administration Number of staff - managemgllt 37 10 10 11 57 No employee received employee benefi15 of more than £60,000 during the year12024'. Nill. 10. Trustee remuneratlon and expenses No trustee receivgd any remuneration or any other benefits from employment wlth the ch8rlty or a relaled entity. 11, Tanglbla fixed ass•ts Freehold property Motor vehides Equipment Total Cost Al 1 April 2024 Additions 10,396,652 269.856 54.056 589 1,148,898 11,599,606 41,365 311,810 1.190,263 11,911,416 At 31 March 2025 10,666,508 54.645 Depreclation At 1 April 2024 Charge lor th8 year At 31 March 2025 602,S55 243,783 20,069 12,332 32,401 824,800 120,202 1,447.424 376,317 846,338 945.002 1,823.741 Carrying amount At 31 March 2025 9,820.170 9.794.097 22.244 33,987 245,261 10.D87.675 324,098 10,152.182 At 31 March 2024 12. Stocks 2025 2024 Finished goods and goods for resalè 21,686 18,207 19
The Elmhurst Foundatlon Company Llmited by Guarantee Notes to the Financial Statements IcoRllnu•dJ Year ended 31 March 2025 13. Debtors 2025 2024 Trade deblors Prepayments and accrued income otherdeblors 3,175 25,072 132,9821 14,7351 93,235 9,807 103.042 14. Crèdltors.. amounts falling due withln one year 2025 2024 Bank loans and overdrafts Trade cdItorS Amounts owed lo undertakings in which th8 charity has a partlcipaling interest Accruals and deferred incDme Social sécijrfly and other taxes Obligations under finance leases and hire purchase contracts Other credStors Other credilots 171.719 201.715 274,928 2Q8,380 3,262,000 257,204 126,816 13.053 38,560 119,767 2.344,000 215.971 87.552 10,193 88,553 111.668 4.190,834 3,341,245 The bank loans are secured on the assets ol the Charity, known as Combe Grove. Brassknocker Hill, Monklon Hill, Balh.BA2 7HU. 15. Creditors= amounts falllng dutr after moro than ono y&ar 2025 2024 Bank loan5 and overdrafts Obligations vnderfinanc8 leases and hlre purch858 contracts 1.706,642 1,786,453 13,664 1,706.642 1,800.117 The bank103ns are secured on the assets of the Charity, known as Combe Grove, Brassknwker Hill, Monklon Hill. Bath,BA2 7HU.
The Elmhurst Foundatlon Cornpany Limited by Guarantee Notes to the Flnanclal Statements {conlinugd) Year ended 31 March 2025 16. Flnancè l•ases and hlre purchas& contracts The Éotal lulure minimum le889 payments under ffinance leas8S 8nd hire purchase contracts are as follows.. 2025 2024 Not later than l year Lat8r than 1 year and not later than S years 13,053 10.193 13,664 13.053 23.857 17. Analysls of charitsble funds Unrestrlcted funds At 31 March 20 25 Al 1 April 2024 Inwme Exp8ndilure G&neral funds 5,314.281 3,083,812 {4,121,0761 4,277,017 Al 31 March 20 24 At 1 April 2023 Income ExpÈndilure General fuNIs 5,327,308 3.502.240 13.515.267) 5,314.281 18. Analy$ls of net assets betsveon funds Uniestricied Total Funds Funds 2025 Tangible fixed assets Current assets Creditors les5 than 1 year Creditors greater than 1 yèar Not assgts fO,087,676 10,087,676 86,819 86.819 14.190,8361 14.190,8361 {1,706,6421 {1,706,6421 4.277,017 4,277,017 Un¥gslricted Total Funds Funds 2024 Tangible fixed assets Current assets Credllors less than 1 year Creditors greater than 1 y8ar Ngt assets 10,152,182 10,152.182 303.461 303.461 13,341,245} 13,341,245) 11,800,11TI 11,800,117) 5,314,281 5,314.281 21
The Elmhurst Foundation Company Limlted by Guarantee Notes to the Financlal Statements {ContIntt) Year ended 31 March 2025 19. Finartclal instruments The carrying amountfor each category of fin8naal instrument is as follows.. 2025 2024 Loan commltments mèasured at cost less impalrment Loan commltments measured al cosl less iThpainnenl 1.891,414 2,085.238 20. Analysis of chang•s In net debl At Al 1 Apr 2024 Cash fflows 31 Mar 2025 182,212 1112,3451 69.867 12,629,121) 1817,6511 13,446,772) 11,800,117) 93,475 11,706.6421 14.247,02fjj (836,521} {5,083,5471 Cash al bank and in hand Debt due within one year Debt due after one year