Company registration number: 10671707 Charity registration number: 1172246
ARC Healthcare Southwest
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 May 2024
ARC Healthcare Southwest
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Statement of Cash Flows | 9 |
| Notes to the Financial Statements | 10 to 21 |
ARC Healthcare Southwest
Reference and Administrative Details
Trustees A M Rouncefield J M Storer S Visram Senior Management / J Sabien, Outsourced Consultant Leadership Team Charity Registration Number 1172246 Company Registration Number 10671707 The charity is incorporated in England. Registered Office Waterside Court Falmouth Road Penryn Cornwall TR10 8AW Accountants GW & Co. Limited Chartered Certified Accountants and Business Advisers Waterside Court Falmouth Road Penryn TR10 8AW
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ARC Healthcare Southwest
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 May 2024.
INTRODUCTION
As explained in the 31 May 2023 accounts, Sea Sanctuary closed its existing operations in January 2023, but on 5th October 2023 the name was changed from Sea Sanctuary to ARC Healthcare Southwest and a decision taken to investigate restarting some activities on a small scale. Funding for two years from the National Lottery was confirmed in December 2023, and the decision to re-commence activities was confirmed, fronted again by the original founder, Joseph Sabien.
Objectives and activities
Purpose of the charity
This charity is governed by memorandum and articles of association dated 15 March 2017, and which set out the following charitable objects “ to assist in the treatment and care of persons suffering from mental or physical illness of any description or in need of rehabilitation as a result of such illness, by the provision of facilities for work and recreation; and to advance the education of the public in the subject of mental well-being.”
These objects were relevant to the Charity operating as Sea Sanctuary and continue to be relevant to the new services being provided (see later).
Main activities
Between July 2019 and January 2023, ARC HSW worked in partnership with the Devon & Cornwall police to provide a unique county-wide service. The service had a specific police call-sign (G999) and operated out-of-hours, typically between 1800-0600, responding to emergency calls where mental ill health (people presenting in acute mental health distress) had been identified. G999 provided crisis negotiation (e.g. people in the process of attempting suicide) and thereafter, once removed to safety, assessment and treatment was provided.
During the 3.5 years of operation, data capture highlighted the need for an additional service in the county – a service that would specialise in the treatment of trauma-related illness and mental health disorders. Four main features for people in crisis became apparent:
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They felt disconnected to other people and the community in which they lived.
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They lacked social interaction and were not engaged in meaningful activities.
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They wanted to better understand their mental health, to better understand and improve their
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• emotional threshold and be taught useful techniques for the purpose of self-soothing/emotional regulation.
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They wanted specific treatment for their trauma (e.g. EMDR) once stable and out of crisis.
As a direct consequence of this service analysis, ARC HSW has decided to concentrate its efforts on supporting this particularly vulnerable and often marginalised cohort. This will be achieved by way of the development of a trauma service which will concentrate on providing the following services:
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assessment of need – a root cause assessment
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meaningful activities (e.g. creative writing, exercises classes, art facilitation and outdoor ‘process’ groups
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Trustees' Report
- EMDR and trauma related modalities (where appropriate)
It should be noted that people in receipt of support from ARC HSW will not present in crisis as this remains the remit of NHS primary care services. As such, ARC HSW will not provide a crisis service and will carefully triage and monitor all referrals, whether self-referrals or referrals from other agencies and organisations.
Indeed, ARC HSW will provide so-called ‘light touch’ services which will encourage people to socially interact, develop meaningful relationships, engage, or re-engage with nature, learn coping strategies in relation to their mental health and experience improved emotional wellbeing and threshold. These services commenced in June 2024.
We are in advance discussions with British Transport Police to provide an equivalent service to the above mentioned G999 service.
ARC Healthcare Southwest is further interested in supporting organisations and agencies (e.g. development of strategies) in the management of people presenting in acute mental health crisis. This support can extend to either the design of, or implementation of, crisis intervention services. This offer extends to the management of day-to-day operations (managing staff/clinicians) alongside responding to people in crisis and/or providing health education to anyone directly, or indirectly involved within the scope of the work.
Development and Innovation
ARC Healthcare Southwest will continue to innovate in healthcare to improve health outcomes for some of the most vulnerable and marginalised people in the community. Whether through the development of outdoor programmes or through health technology, the charity will continue to create interesting and meaningful interventions to ensure healthcare is available to anyone, wherever they are on their health journey.
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
These are early days for this slimmed down charity, and during the year to 31 May 2024 all efforts have been spent trying to get back up and running, recruiting and inducting facilitators, finding accommodation, securing funding and adapting procedures.
We will be able to report on our efforts in next years report.
Financial review
Year end financial position
In December 2023, the National Lottery Community Fund confirmed that it would continue to fund certain running costs of the new activities for 2 years, with a total of £207,979. The first payment of£51,995 was received in January 2024, and subsequent payments of a similar amount are due to be made every 6 months. The second payment of £51,995 was received after the year end in July 2024.
At 31st May 2024, the charity had a bank balance of £70,646 (2023: £149,797) which was then supplemented by the receipt referred to above in July 2024.
Reserves policy
With the new activities, a formal reserves policy is not currently appropriate, but the charity will regularly monitor and assess forecasted budget and expenditure to ensure that cash inflows and expenditure over the coming 12 months are sufficient to cover known expenditure together with a contingency for unforeseen expenditure.
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ARC Healthcare Southwest
Trustees' Report
Future financial status and principal risks
The risks and uncertainties faced by the charity in 2024 all relate to the setting up of the new activities as outlined above. These are being co-ordinated by the original experienced founder Joseph Sabien. For the next two years, the main funding source is the National Lottery Community Fund, although additional funding is being sought, as is more long term funding for when the Lottery funding ceases.
Sea Sanctuary Services Limited
Following on from the decision to close the charity taken in December 2022, discussions were held with Lloyds Bank, the only creditor of the charity’s subsidiary Sea Sanctuary Services Limited. Following unsuccessful negotiations with Lloyds, the directors of SSSL decided to place the company into liquidation on 15th February 2024.
Structure, governance and management
Nature of governing document
Arc Healthcare Southwest is a unique mental health service based in Falmouth, South West England and is a private company limited by guarantee without share capital, with "Limited" exemption.
The Charity is governed by memorandum and articles of association dated 15 March 2017.
Recruitment and appointment of trustees
New trustees are appointed by the existing trustees based on the needs of the charity, and the experience and skills they have to offer. Where gaps are identified in the board, skill set trustees will be sought to meet those specific needs. New trustees are formally inducted by the current board.
Organisation structure
The charity was previously run on a day-to-day basis by the CEO and founder Joseph Sabien, assisted by his senior management team. Following its closure, the run-down of the Charity was undertaken by the Trustees, assisted by Joseph Sabien. The structure of the Charity in its new guise is still evolving but continues to be over-seen by the Trustees and Joe Sabien on a consultancy basis.
Trustees meet formally on at least a quarterly basis, but further regular meetings take place between some of the trustees and Joseph Sabien to discuss issues as they arise.
Statement of trustees' responsibilities
The trustees (who are also the directors of ARC Healthcare Southwest for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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Trustees' Report
-
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on 17th September 2024 and signed on its behalf by:
......................................... G/L Qtoner J M Storer Trustee
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ARC Healthcare Southwest
Independent Examiner's Report to the trustees of ARC Healthcare Southwest ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2024.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of ARC Healthcare Southwest as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Deborah Warburton ACCA
Date:.............................17 September 2024
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ARC Healthcare Southwest
Statement of Financial Activities for the Year Ended 31 May 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Investment income 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Other expenditure 8 Total expenditure Net (expenditure)/income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 17 Note Income and Endowments from: Donations and legacies 3 Charitable activities 4 Investment income 5 Total income Expenditure on: Raising funds 6 Charitable activities 7 Total expenditure Net (expenditure)/income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 17 The funds breakdown for 2023 is shown in note 17. |
Unrestricted funds £ 3,512 428 3,940 (99) (26,476) (1,005) (27,580) (23,640) (23,640) 79,959 56,319 Unrestricted funds £ 37,546 332,402 16,174 386,122 (21,971) (1,098,613) (1,120,584) (734,462) (734,462) 814,422 79,960 |
Restricted funds £ 207,979 - 207,979 - (51,995) - (51,995) 155,984 155,984 43,128 199,112 Restricted funds £ 539,881 - - 539,881 - (518,587) (518,587) 21,294 21,294 21,834 43,128 |
Total 2024 £ 211,491 428 |
|---|---|---|---|
| 211,919 | |||
| (99) (78,471) (1,005) |
|||
| (79,575) | |||
| 132,344 | |||
| 132,344 123,087 |
|||
| 255,431 | |||
| Total 2023 £ 577,427 332,402 16,174 |
|||
| 926,003 | |||
| (21,971) (1,617,200) |
|||
| (1,639,171) | |||
| (713,168) | |||
| (713,168) 836,256 |
|||
| 123,088 | |||
The notes on pages 10 to 21 form an integral part of these financial statements. Page 7
ARC Healthcare Southwest
(Registration number: 10671707) Balance Sheet as at 31 May 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible assets | 13 | 33,015 | 30,000 |
| Current assets | |||
| Debtors | 14 | 156,034 | 17,237 |
| Cash at bank and in hand | 15 | 70,646 | 149,797 |
| 226,680 | 167,034 | ||
| Creditors: Amounts falling due within one year | 16 | (4,264) | (73,946) |
| Net current assets | 222,416 | 93,088 | |
| Net assets | 255,431 | 123,088 | |
| Funds of the charity: | |||
| Restricted income funds | |||
| Restricted funds | 17 | 199,112 | 43,128 |
| Unrestricted income funds | |||
| Unrestricted funds | 56,319 | 79,960 | |
| Total funds | 17 | 255,431 | 123,088 |
For the financial year ending 31 May 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 7 to 21 were approved by the trustees, and authorised for issue on 17th September 2024 and signed on their behalf by:
......................................... J M Storer Trustee
The notes on pages 10 to 21 form an integral part of these financial statements. Page 8
ARC Healthcare Southwest
Statement of Cash Flows for the Year Ended 31 May 2024
| Note Cash flows from operating activities Net cash income/(expenditure) Adjustments to cash flows from non-cash items Depreciation Investment income Working capital adjustments (Increase)/decrease in debtors 14 Decrease in creditors 16 Net cash flows from operating activities Cash flows from investing activities Interest received Acquisition of intangible assets Acquisitions of tangible assets Proceeds from sale of tangible assets Net cash flows from investing activities Cash flows from financing activities Payments to finance lease creditors Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at 1 June Cash and cash equivalents at 31 May |
2024 £ 132,344 1,004 (428) 132,920 (138,797) (69,682) (75,559) 428 (4,020) - - (3,592) - (79,151) 149,797 70,646 |
2023 £ (713,168) 38,299 (16,174) |
|---|---|---|
| (691,043) 857,877 (263,708) |
||
| (96,874) | ||
| 16,174 - (381,436) 539,983 |
||
| 174,721 (12,920) |
||
| 64,927 84,870 |
||
| 149,797 |
The notes on pages 10 to 21 form an integral part of these financial statements. Page 9
ARC Healthcare Southwest
Notes to the Financial Statements for the Year Ended 31 May 2024
1 Charity status
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
The address of its registered office is: Waterside Court Falmouth Road Penryn Cornwall TR10 8AW
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
ARC Healthcare Southwest meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The Trustees have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The Trustees have a reasonable expectation that the Charity have adequate resources to continue in operational existence and to meet its financia; obligations as they fall due for at least 12 months from the date of these financial statements. Accordingly, the Trustees are of the opinion that the going concern basis is appropriate.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
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ARC Healthcare Southwest
Notes to the Financial Statements for the Year Ended 31 May 2024
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released when entitlement occurs.
Other income
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent.
Raising funds
Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities, events and non-charitable trading.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
All expenditure is inclusive of irrecoverable VAT.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
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ARC Healthcare Southwest
Notes to the Financial Statements for the Year Ended 31 May 2024
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
Government grants
Government grants of a revenue nature are credited to the Statement of Financial Activities as the related expenditure is incurred.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £500.00 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed assets less their residual value over their estimated useful lives, on both the straight line basis and reducing balance basis.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Boats and vessels Over 15 years straight line Office equipment 20% reducing balance
Impairment of fixed assets
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
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ARC Healthcare Southwest
Notes to the Financial Statements for the Year Ended 31 May 2024
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
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Notes to the Financial Statements for the Year Ended 31 May 2024
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Derivative financial instruments
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
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Notes to the Financial Statements for the Year Ended 31 May 2024
3 Income from donations and legacies
| Donations and legacies; Donations from individuals Grant income Grants from other organisations Total for period ended 31 May 2024 Total for period ended 31 May 2023 4 Income from charitable activities Care services and other activities 5 Investment income Other investment income Total for period ended 31 May 2024 Total for period ended 31 May 2023 6 Expenditure on raising funds |
Unrestricted funds General £ 3,512 - 3,512 37,546 |
Restricted funds £ - 207,979 207,979 539,881 Total 2024 £ - Unrestricted funds General £ 428 428 16,174 |
Total funds £ 3,512 207,979 |
|---|---|---|---|
| 211,491 | |||
| 577,427 | |||
| Total 2023 £ 332,402 |
|||
| Total funds £ 428 |
|||
| 428 | |||
| 16,174 | |||
| Fundraising costs Total for period ended 31 May 2024 Total for period ended 31 May 2023 |
Unrestricted funds General £ 99 99 21,971 |
Total funds £ 99 |
|---|---|---|
| 99 | ||
| 21,971 |
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Notes to the Financial Statements for the Year Ended 31 May 2024
7 Expenditure on charitable activities
| Note Other direct costs Allocated support costs 9 Governance costs 9 Total for period ended 31 May 2024 Total for period ended 31 May 2023 |
Unrestricted funds General £ 9,365 12,157 4,954 26,476 1,098,613 |
Restricted funds £ - 51,995 - 51,995 518,587 |
Total funds £ 9,365 64,152 4,954 |
|---|---|---|---|
| 78,471 | |||
| 1,617,200 |
8 Other expenditure
| Note Depreciation, amortisation and other similar costs Total for period ended 31 May 2024 |
Unrestricted funds General £ 1,004 1,004 |
Total funds £ 1,004 |
|---|---|---|
| 1,004 |
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Notes to the Financial Statements for the Year Ended 31 May 2024
9 Analysis of governance and support costs
Support costs allocated to charitable activities
| Rent Insurance IT software and consumables Legal and professional fees Other office expenses Telephone and internet Repairs and maintenance Advertising and marketing Printing, postage and stationery Interest payable Sundry expenses Consultancy fees |
Other support costs £ 1,900 1,637 35 4,919 613 265 501 828 602 1,084 824 50,944 64,152 |
Total 2024 £ 1,900 1,637 35 4,919 613 265 501 828 602 1,084 824 50,944 64,152 |
|---|---|---|
Governance costs
| Independent examiner fees Examination of the financial statements |
Unrestricted funds General £ 4,954 4,954 |
Total 2024 £ 4,954 4,954 |
Total 2023 £ 8,700 |
|---|---|---|---|
| 8,700 |
10 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
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Notes to the Financial Statements for the Year Ended 31 May 2024
11 Staff costs
The aggregate payroll costs were as follows:
| The aggregate payroll costs were as follows: | |
|---|---|
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2023 £ 695,403 58,669 10,972 |
| 765,044 |
The number of employees whose emoluments fell within the following bands was:
| £140,001 - £150,000 | 2023 No 1 |
|---|---|
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ARC Healthcare Southwest
Notes to the Financial Statements for the Year Ended 31 May 2024
12 Taxation
The charity is a registered charity and is therefore exempt from taxation.
13 Tangible fixed assets
| Cost At 1 June 2023 Additions At 31 May 2024 Depreciation Charge for the year At 31 May 2024 Net book value At 31 May 2024 At 31 May 2023 14 Debtors Trade debtors Other debtors 15 Cash and cash equivalents Cash at bank |
Furniture and equipment £ - 4,020 4,020 1,005 1,005 3,015 - |
Furniture and equipment £ - 4,020 4,020 1,005 1,005 3,015 - |
Other tangible fixed asset £ 30,000 - 30,000 - - 30,000 30,000 2024 £ 50 155,984 156,034 2024 £ 70,646 |
Other tangible fixed asset £ 30,000 - 30,000 - - 30,000 30,000 2024 £ 50 155,984 156,034 2024 £ 70,646 |
Total £ 30,000 4,020 34,020 1,005 1,005 33,015 30,000 2023 £ 13,590 3,647 |
|---|---|---|---|---|---|
| 4,020 | 30,000 | ||||
| 1,005 | - | ||||
| 1,005 | - | ||||
| 3,015 | 30,000 | ||||
| - | 30,000 | ||||
| 2024 £ 50 155,984 156,034 2024 £ 70,646 |
|||||
| 17,237 | |||||
| 2023 £ 149,797 |
Page 19
ARC Healthcare Southwest
Notes to the Financial Statements for the Year Ended 31 May 2024
16 Creditors: amounts falling due within one year
| Trade creditors Due to group undertakings Other taxation and social security Accruals |
2024 £ - - - 4,263 4,264 |
2023 £ 9,510 30,124 19,202 15,111 |
|---|---|---|
| 73,946 |
17 Funds
| Unrestricted funds General Unrestricted Funds Restricted funds National Lottery Greenhook Fishing Total restricted funds Total funds Unrestricted funds General Unrestricted Funds Restricted Invictus G999 Just Giving 999 Arnold Clark G999 Norman Family Trust NHS Winter Pressures National Lottery Duke of Cornwall Benevolent Fund Greenhook Fishing |
Balance at 1 June 2023 £ 79,959 - 43,128 43,128 123,087 Balance at 1 December 2021 £ 814,422 21,834 - - - - - - - |
Incoming resources £ 3,940 207,979 - 207,979 211,919 Incoming resources £ 386,122 - 294 1,500 7,500 35,000 280,000 5,000 45,288 |
Resources expended £ (27,580) (51,995) - (51,995) (79,575) Resources expended £ (1,120,584) (21,834) (294) (1,500) (7,500) (35,000) (280,000) (5,000) (2,160) |
Balance at 31 May 2024 £ 56,319 155,984 43,128 |
|---|---|---|---|---|
| 199,112 | ||||
| 255,431 | ||||
| Balance at 31 May 2023 £ 79,960 - - - - - - - 43,128 |
Page 20
ARC Healthcare Southwest
Notes to the Financial Statements for the Year Ended 31 May 2024
| Balance at 1 December 2021 £ Tudor Trust - Albert Hunt - Edward Gosling - Clothworkers - Wolfson - Cornwall Council - Penryn Town Council - Total restricted funds 21,834 Total funds 836,256 18 Analysis of net assets between funds Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Current liabilities Total net assets |
Incoming resources £ 40,000 4,000 40,000 25,000 50,000 5,999 300 539,881 926,003 Unrestricted funds General £ 33,015 70,696 (4,264) 99,447 |
Resources expended £ (40,000) (4,000) (40,000) (25,000) (50,000) (5,999) (300) (518,587) (1,639,171) Restricted funds £ - 155,984 - 155,984 Unrestricted funds General £ 30,000 167,034 (73,946) 123,088 |
Balance at 31 May 2023 £ - - - - - - - |
|---|---|---|---|
| 43,128 | |||
| 123,088 | |||
| Total funds at 31 May 2024 £ 33,015 226,680 (4,264) |
|||
| 255,431 | |||
| Total funds at 31 May 2023 £ 30,000 167,034 (73,946) |
|||
| 123,088 |
Page 21
ARC Healthcare Southwest
Statement of Financial Activities by fund for the Year Ended 31 May 2024
Unrestricted Funds
| Total | Total | |
|---|---|---|
| Unrestricted | Unrestricted | |
| Funds | Funds | |
| 2024 | 2023 | |
| £ | £ | |
| Income and Endowments from: | ||
| Donations and legacies | 3,512 | 37,546 |
| Charitable activities | - | 332,402 |
| Investment income | 428 | 16,174 |
| Total income | 3,940 | 386,122 |
| Expenditure on: | ||
| Raising funds | (99) | (21,971) |
| Charitable activities | (26,476) | (1,098,613) |
| Other expenditure | (1,005) | - |
| Total expenditure | (27,580) | (1,120,584) |
| Net expenditure | (23,640) | (734,462) |
| Net movement in funds | (23,640) | (734,462) |
| Reconciliation of funds | ||
| Total funds brought forward | 79,959 | 814,422 |
| Total funds carried forward | 56,319 | 79,960 |
This page does not form part of the statutory financial statements. Page 22
ARC Healthcare Southwest
Statement of Financial Activities by fund for the Year Ended 31 May 2024
Restricted Funds
| Restricted Funds | ||
|---|---|---|
| Income and Endowments from: Donations and legacies Total income Expenditure on: Charitable activities Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total Restricted Funds 2024 £ 207,979 207,979 (51,995) (51,995) 155,984 155,984 43,128 199,112 |
Total Restricted Funds 2023 £ 539,881 |
| 539,881 | ||
| (518,587) | ||
| (518,587) | ||
| 21,294 | ||
| 21,294 21,834 |
||
| 43,128 |
This page does not form part of the statutory financial statements. Page 23