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2025-03-31-accounts

Charity registration number 1181195 (England and Wales) Company registration number 11297646

RAINBOW LIVING SW

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

RAINBOW LIVING SW

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees J Chew
R Airdrie
D Hopton
J Pinniger
V Symons
A Furnival
S Lampey
Charity number (England and Wales) 1181195
Company number 11297646
Principal address 104 Sweetbrier Lane
Exeter
EX1 3AR
Registered office 104 Sweetbrier Lane
Exeter
EX1 3AR
Independent examiner James Welton BA (Hons) FCA CTA
Simpkins Edwards LLP
The Summit
Woodwater Park
Pynes Hill
Exeter
EX2 5WS

RAINBOW LIVING SW

CONTENTS

Page
Trustees' report 1 - 4
Statement of trustees' responsibilities 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 18

RAINBOW LIVING SW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

This year has been a time of consolidation and a focus on improving the sustainability of the charity for the future. Rainbow Living was delighted to be nominated for consideration for the King’s Award for Voluntary Services in September 2024. As part of this process, our work was scrutinised by the Local Lieutenancies. The outcome will not be known until November 2025.

Rainbow Living continues to pride itself on being a responsible landlord, providing high-quality, affordable, and specially adapted accommodation for adults with learning difficulties. We aim to ensure that our Rainbow tenants – and their families – have the certainty of a home for as long as they wish. For many, Rainbow Living provides a crucial first step in moving out of the family home.

This past year, the charity developed its Social Impact Strategy to evaluate the effect of our work on beneficiaries, promote accountability, identify areas for improvement, and guide the use of limited resources. Our first initiative under this strategy was a tenant survey across Rainbow Living’s five houses. Of the responses:

Overall, the results were positive. Where issues were highlighted, they have since been investigated and resolved. Some feedback included:

Annual General Meeting (AGM)

Our AGM in July 2024 was well attended, with updates from all five Rainbow Houses celebrating the past year. A new video was shared, offering a parent’s perspective on preparing—both physically and emotionally—for their son’s move into supported living. We hope this video will be helpful and insightful for other families facing a similar transition.

Directors

Jeremy Chew stepped down as Chair in January 2025, having served since 2022. We are very grateful for all his input and expertise. Abbi Furnival has now taken on the role for a one-year term. All directors contribute their time and expertise on a voluntary basis. This year, they have been focused on developing the role and job description for a new Operations Manager , who will help ensure the charity's continued sustainability.

We are also grateful to Barbara Hodder, who has taken on the role of minute taker for the charity.

RAINBOW LIVING SW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Operations and Property Group

The Operations and Property Group has:

We currently have a vacancy in our Torquay property, which we aim to fill as soon as possible.

Finance Team and Fundraising

Finance

The Finance Team has continued to oversee budgets and financial planning, ensuring good stewardship of resources.

Fundraising

The Fundraising sub-team has developed local fundraising initiatives, including the Rainbow Builders Giving Programme . Our Rainbow Builders , through their monthly contributions, donated £13,854 this year—representing 49% of our total giving income . We are incredibly grateful for their consistent support.

The Fundraising Team raised an additional £4,096 through various community activities. Key fundraising events included:

We are indebted to the small group of volunteers who support our fundraising efforts, helping generate income and spread awareness of Rainbow Living’s work.

Marketing, PR & GDPR

Staffing

Janet Raeburn was employed instead as on a consultancy basis from 1 April 2024 in a marketing, PR, fundraising, and data processing role, working two days per week on a 12-month fixed-term contract. She significantly strengthened our online presence across Facebook, Twitter, Instagram, and our website. Janet also developed:

Unfortunately, Janet left in December 2024 to take up a full-time role with another charity. Her expertise and dedication are greatly missed, but she continues to support Rainbow Living as a volunteer, particularly with social media and events.

This role will be absorbed by the Operations Manager once appointed.

Data Protection

Janet also acted as the GDPR Data Processor , with Dave Hopton as the Data Controller . In her absence, Ruth Airdrie has stepped in as acting Data Processor. Rainbow Living uses the CRM system Donorfy to manage donor information and communications.

RAINBOW LIVING SW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Public Benefit

Rainbow Living continues to demonstrate clear public benefit by offering supported living homes to young adults with learning disabilities. These homes provide security of tenure for 24 tenants across five properties , while also generating local employment opportunities through care providers such as Thera South West and Voyage Care .

Potential Tenants

Rainbow Living remains a point of contact for families exploring supported living options. We maintain a waiting list, which is refreshed annually to reflect current demand.

Financial Position

The charity remains on solid financial footing. Tenants pay rent via Housing Benefit or Local Housing Allowance , and this income supports:

Risk Management

The Directors are responsible for risk management and regularly assess risks facing the charity. As part of an ongoing process, they ensure that adequate systems and procedures are in place to mitigate identified risks.

Conclusion

Rainbow Living continues to thrive. As we look to the future, we do so with excitement and anticipation of building an even more sustainable foundation. The charity remains volunteer-led , relying on generous individuals who contribute time, skills, and energy to all aspects of our fundraising and administration.

We remain deeply grateful to every volunteer, donor and supporter who enables Rainbow Living to provide homes and hope for adults with learning disabilities.

Financial review

Reserves policy

The charity's effective reserves, being debtors and cash, as at 31 March 2025 totalled £191,017 (2024: £136,930).

Funds will be used for the maintenance and development of the charity's properties and to service the loans on 1, The Mede and 35 Couper Meadows. Additionally, funds may be required to increase the charity's sustainability by investing in human resources.

Reserve funds for 6 months running costs amount to £90,716.

Structure, governance and management

Rainbow Living SW was incorporated as a company limited by guarantee on 07 April 2018 and registered as a charity on 17 December 2018. The company was established under a Memorandum of Association which established its objectives and powers of the charitable company, and is governed under its Articles of Association.

Rainbow Living SW is governed by a Board of Directors. The directors of the company are also charity trustees for the purpose of charity law. The minimum number of directors must be 5.

We continue to operate through various teams working on Operations and Property, Finance, and Fundraising, with sub-teams covering Local Fundraising, and Marketing and Communications. All major decisions are taken at the Director level.

RAINBOW LIVING SW

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

J Chew

R Airdrie

D Hopton J Pinniger V Symons A Furnival S Lampey

Recruitment and appointment of trustees

New directors (trustees) are appointed by existing directors at a Directors meeting.

In the event of the company being wound up, members are required to contribute an amount not exceeding £10.

The trustees' report was approved by the Board of Trustees.

A Furnival S Lampey Trustee Trustee

11 September 2025

RAINBOW LIVING SW

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2025

The trustees, who are also the directors of Rainbow Living SW for the purpose 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).

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

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

RAINBOW LIVING SW

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RAINBOW LIVING SW

I report to the trustees on my examination of the financial statements of Rainbow Living SW (the charity) for the year ended 31 March 2025.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

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 that in any material respect:

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 financial statements to be reached.

Mr J Welton BA (Hons) FCA CTA

for and on behalf of Simpkins Edwards LLP The Summit Woodwater Park Pynes Hill Exeter EX2 5WS 22 September 2025

RAINBOW LIVING SW

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
2
30,647
2,113
Charitable activities
3
183,026
-
Other trading activities
4
4,096
-
Investments
5
3,573
-
Total income
221,342
2,113
Expenditure on:
Raising funds
6
216
-
Charitable activities
7
170,078
313
Total expenditure
170,294
313
Net income
51,048
1,800
Transfers between
funds
1,800
(1,800)
Other recognised
gains and losses:
Revaluation of tangible
fixed assets
11
-
-
Net movement in
funds
52,848
-
Reconciliation of funds:
Fund balances at 1 April 2024
2,569,667
-
Fund balances at 31 March
2025
2,622,515
-		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
32,760
61,726
106,000
183,026
148,891
-
4,096
6,967
-
3,573
5,277
-
223,455
222,861
106,000
216
3,962
-
170,391
152,162
781
170,607
156,124
781
52,848
66,737
105,219
-
171,030
(171,030)
-
581,925
-
52,848
819,692
(65,811)
2,569,667
1,749,975
65,811
2,622,515
2,569,667
-		 Total
2024
£
167,726
148,891
6,967
5,277
328,861
3,962
152,943
156,905
171,956
-
581,925
753,881
1,815,786
2,569,667

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

RAINBOW LIVING SW

BALANCE SHEET

AS AT 31 MARCH 2025

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
16
Net assets excluding pension liability
Net assets
The funds of the charity
Unrestricted funds		 2025
£
£
3,094,872
3,222
187,795
191,017
(53,071)
137,946
3,232,818
(610,303)
2,622,515
2,622,515
2,622,515
2,622,515		 2024
£
£
3,148,927
4,498
132,432
136,930
(68,163)
68,767
3,217,694
(648,027)
2,569,667
2,569,667
2,569,667
2,569,667

The notes on pages 9 to 18 form part of these financial statements.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 11 September 2025

A Furnival S Lampey Trustee Trustee

Company registration number 11297646 (England and Wales)

RAINBOW LIVING SW

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Rainbow Living SW is a private company limited by guarantee incorporated in England and Wales. The registered office is 104 Sweetbrier Lane, Exeter, EX1 3AR.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Rental income and monies raised from fundraising are accounted for on a receivable basis.

RAINBOW LIVING SW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. 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, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 2% straight line Plant and equipment 25% reducing balance Fixtures and fittings 15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

RAINBOW LIVING SW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9 Taxation

As a charity, Rainbow Living SW is exempt from tax on income and gains falling within sections 466 to 493 of the Corporation Tax Act 2010 to the extent that these are applied to its charitable purposes. No tax charges have arisen in the charity.

2 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
30,647
2,113
Legacies receivable
-
-
Grants received
-
-
30,647
2,113		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
32,760
39,726
1,000
-
5,000
-
-
17,000
105,000
32,760
61,726
106,000		 Total
2024
£
40,726
5,000
122,000
167,726

3 Income from charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Property
Charitable rental income 183,026 148,891

RAINBOW LIVING SW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

4 Income from other trading activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising events 4,096 6,967
5 Income from investments
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Other income 3,573 5,277
6 Expenditure on raising funds
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Other fundraising costs 216 3,962

RAINBOW LIVING SW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

7 Expenditure on charitable activities

Charitable Charitable
expenditure expenditure
2025 2024
£ £
Direct costs
Staff costs 10,893 -
Depreciation and impairment 78,383 67,877
Council tax 7,152 3,963
House and garden maintenance 18,672 15,443
Printing, postage and stationery 48 31
Computer support 525 417
Professional fees 1,058 7,243
Audit and accountancy fees 1,000 5,760
Insurance 9,316 10,219
Licenses and subscriptions 1,530 1,415
Equipment - 219
Sundries 49 48
Loan interest 41,264 39,686
Bank charges 188 60
Arts and craft activities 313 562
170,391 152,943
Analysis by fund
Unrestricted funds 170,078 152,162
Restricted funds 313 781
170,391 152,943

RAINBOW LIVING SW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

8 Independent Examiner's Remuneration

Fees payable to the charity's auditor/independent examiner and associates:
For audit services
Audit of the financial statements of the charity
For other services
Accountancy services		 2025
£
-
1,200		 2024
£
4,800
960

The 2024 comparative figure is in relation to audit fees, as opposed to independent examination.

9 Trustees

One Trustee was reimbursed £165 (2024: £Nil to 0 Trustees) for expenditure incurred in relation to the charity's activities.

The trustees' insurance includes trustee indemnity insurance.

10 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
1 -
Employment costs 2025 2024
£ £
Wages and salaries 10,700 -
Other pension costs 193 -
10,893 -

There were no employees whose annual remuneration was more than £60,000.

RAINBOW LIVING SW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

11 Gains on revaluation of fixed assets

Unrestricted Unrestricted
funds funds
2025 2024
Gains/(losses) upon: £ £
Revaluation of tangible fixed assets - 581,925

The properties were revalued on 06 February 2024 by Richard Morley, Chartered Surveyor to an aggregated value of £1,675,000. A revaluation reserve was therefore been established, consisting of the original cost and accumulated depreciation to 06 February 2024, totalling £581,925. The trustees have assessed the value of these properties and are satisfied it remains the same at 31 March 2025.

12 Tangible fixed assets

Freehold land
and buildings
£
Cost or valuation
At 1 April 2024
3,085,923
Additions
10,902
At 31 March 2025
3,096,825
Depreciation and impairment
At 1 April 2024
30,643
Depreciation charged in the year
61,748
At 31 March 2025
92,391
Carrying amount
At 31 March 2025
3,004,434
At 31 March 2024
3,055,280		 Plant and
equipment
Fixtures and
fittings
£
£
40,008
142,907
-
13,426
40,008
156,333
23,282
65,986
4,185
12,450
27,467
78,436
12,541
77,897
16,726
76,921		 Total
£
3,268,838
24,328
3,293,166
119,911
78,383
198,294
3,094,872
3,148,927

Land and buildings with a carrying amount of £1,117,246 were revalued at 06 February 2024 by Richard Morley, independent valuers not connected with the charity on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

RAINBOW LIVING SW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

13
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
14
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year
Amounts included above which fall due after five years:
Payable by instalments		 2025
£
1,371
1,851
3,222
2025
£
657,736
47,433
610,303
252,954		 2024
£
2,587
1,911
4,498
2024
£
705,169
57,142
648,027
290,909

The Lorarine Trust

A loan of £450,000 was established with the Loraine Trust for the purchase of a property costing £465,000. The loan is due for repayment on 28 June 2032.

Further advancements of £37,000 (agreed in 2013) and £100,000 (agreed in 2023) in relation to the mortgage on the same property were carried out under the same terms and conditions as the original loan.

A balance of £262,537 was outstanding at the year-end. Interest is payable on this loan on a quarterly basis at 4% per annum. The interest due at the balance sheet date has been included in accruals.

CAF Bank

A loan of £300,000 was established with CAF Bank Ltd for the purchase of a property costing £585,000. The loan is due for repayment on 06 September 2039.

A further advancement of £155,000 was agreed in 2023 in relation to the mortgage on the same property. The advancement is due for repayment on 19 November 2043.

A balance of £395,199 was outstanding at the year-end. Interest is payable on the original loan on a monthly basis at 4.25% per annum and at 5.25% on the advancement. The interest due at the balance sheet date has been included in accruals.

RAINBOW LIVING SW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

15 Creditors: amounts falling due within one year

Notes
Bank loans
14
Other creditors
Accruals and deferred income
Creditors: amounts falling due after more than one year
Notes
Bank loans
14		 2025
£
47,433
602
5,036
53,071
2025
£
610,303		 2024
£
57,142
826
10,195
68,163
2024
£
648,027

16 Creditors: amounts falling due after more than one year

17 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April Incoming Resources Transfers At 31 March
2024 resources expended 2025
£ £ £ £ £
Arts and Crafts - 313 (313) - -
The Mede - Bath - 1,800 - (1,800) -
- 2,113 (313) (1,800) -
Previous year: At 1 April Incoming Resources Transfers At 31 March
2023 resources expended 2024
£ £ £ £ £
Arts and Crafts 562 - (562) - -
Sensory Room - The Mede 219 - (219) - -
Rainbow Living House 65,030 105,000 - (170,030) -
Specialist Bath - Clovelly - 1,000 - (1,000) -
65,811 106,000 (781) (171,030) -

In the year, a £313 donation was received from a supporter to be spent on arts and crafts activities to benefit the residents. This was fully spent in the year.

In the year, an £1,800 donation was received from a supporter to be spent on the installation of an additional bath in The Mede property. This was fully spent in the year.

RAINBOW LIVING SW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Roof repair fund
General funds
Previous year:
General funds		 At 1 April
2024
Incoming
resources
Resources
expended
£
£
£
-
-
-
2,569,667
221,342
(170,294)
2,569,667
221,342
(170,294)
At 1 April
2023
Incoming
resources
Resources
expended
£
£
£
1,749,975
222,861
(156,124)		 Transfers
Gains and
losses
At 31 March
2025
£
£
£
11,004
-
11,004
(9,204)
-
2,611,511
1,800
-
2,622,515
Transfers
Gains and
losses
At 31 March
2024
£
£
£
171,030
581,925
2,569,667

The Trustees wish to set up a designated fund in the year to be spent on roof repairs for the charity's properties starting with the replacement of the roof at 105 Hill Barton Road. The current balance on the Redwood 95 Day Notice bank account is to be designated for the roof repairs fund. A further £5,000 per annum will be designated each year from 2026/27.

19 Related party transactions

Three trustees have children who are tenants of The Mede. Rental income received from trustees' children totalled £25,601 in the year (2024: £23,645). All rental income is charged at a commercial rate.

The spouse of one trustee has provided electrical and plumbing services in relation to three of the charity's properties. There were two transactions totalling £180 in the year (2024: £130), and this included both labour and materials.

£3,993 was received in donations from trustees and related parties without conditions during the year (2024: £3,635).

20 Connected charities

The charity has links with the charity 'Voyage Care' and 'Thera South-West'. They provide staff and pay the staff costs, which support the tenants in daily living.