Docusrgn Envebpe ID.. 5C094884-AFDD-4DA3-8259-C773F10B606C Company number 12227571 R8g15t8red Charlty Numb8r- 1187072 Nugent Care 2019 {Company Limited by Guarantee) Trustees, Report and Financial Statements For The Year Ended 31 March 2025 DoGusrgn Envelope ID.. 5c0948B4-AFOD4oA3-825￿C77sF1oB6Osc Nugent Care 2019 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 CONTENTS Pagè Report of the Tru5taes 3 10 17 Report of the Independent Auditors 181020 StaleTnenl of Financial A¢ll￿tIeS {Incorpor8titTrg Incorn8 and Expendfture Accountl 21 Balance Sheet 221023 Cash Flow Statement 24 Notes to the Financial Stal&m8nts 25to44 Docu$￿Th Envelop8 ID.. 5c0￿8B4-AFoD-4DA342s9£773F1OB6osC Nugent Care 2019 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 REFERENCE AND ADMINISTRATIVE OETAILS Govorning do¢um¢nt Nugenl Car8 latso known 88 Nugentl 18 8 register9d, unincorporated charity founded in 1881 and constllulgd under an original Trust Deed dated 1889 and revised in May 1906. April 1924. September 1976, Marth 2(K)2, Decembgr 2005 and June 2015. The 2005 Trus1 Deed irlcorporaled the appropriate amendments to enable the Charity to th8nge ils narnè to'Nuoent Care. from'The Nugent Care Society,. Corporate Trustee.. Nug&nt Care 2019 Ltd (Company No.. 122275711, Registered Charity 1187072 and Nugenl Care Reglstered Charity.. 1187072-1 Principal address 99 Edge Lane LN8rpool L7 2PE Nugant Car8 2019 Sol• Corporate Truste& of Nugent Care Presldant Most Rev Archblshop Malcolm Mcmahon OP Nugent Care 2019 Trustees Mr JP Dennis (Chalrl Ms S P8dmore Ivice-Chairl- resigned 6￿ March 2025 Mrs S Worden ITreasurerl- resigned 20th December 2024 Rev Paul Rooney (Archbishop Appointee) Canon M FitZ5imons- appointed VI￿-Chair 61h March 2025 Mrwstead Mr A D8an- r8signed 3161 October 2024 Mr U Oliver- appointed Treasurer 91h January 2025 Mrs W Bowyer- appointed 61h June 2024 Chlef Executlve Offlc8r Mrs Joanne Henney Auditors MHA Richard House 9 Winckley Square P￿Slon PR1 3HP Invostment Advls¢rs Ralhbone Investmenl Man8getnent Port of Llverpool Bulldlng Pier Head Llverpool L31NW Evelyn partne￿ Investment Management (appointed 23rd June 20241 45 Gresham Street London EC2 7BG OocusvJn Envelope ID.. 5Co948B4-AFD[￿4DA3￿25￿C773FI0BsO6C Nugent Care 2019 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The Trustees pr&s8nt their report with the finandal statements of the charity for the year ended 31 March 2025. Th8 Trustees have adopted the provisions of Ac(x)unling and Reporting by Charities., Statement of Recommended Practice applicab18 to charilies p￿parIng their accounts in accordance with (he Financlal Reporting Standard 8pplicable in the UK and Republlc of Ireland IFRS 1021 leffeclive O¢lober 20191. The accounts are for Ihe Ch8ri1y Nugent Care 2019 and the linked Charty Nugent Care. Nugent Care 2019 was incorpor818d on 25 September 2019 and the Chari1185 W8r8 link8d on 30 June 2020. The Trustees report incorporates th6 Directois, and Slralegic rep¢xi as required by Company Law. OUR MISSION, VISION AND OBJECTIVES Our Ml$$ion To ¢are for. ed￿ate. protect and inspir8 those in need. We have five strategic ih8m88 Ihat wll work to ensure that we are directed towards our mission. Thesg are.. Heallh and Wellbeing 2. Independence and R8silienc8 3. Shaping Futures 4. Collaboration 5. Financial Suslainabilily Th8m8s 1 and 2 focus on deveknplno our ser%qces lor the p80ple we setve. Theme 3 is about our Intem81 process 8nd the goveman¢e of this work. Theme 4 is an externally facing Iheme guiding our work about how we interact and support Ihe wider health and social care econorny. In addition, the fifth theme relates lo providing robust rin&nci81 stawardship of charitable funds which ensures the coNlinuing provision of our servi¢es for the long term. 'Our vlslon 1$ to be a totally dlgnifFtd and outstanding organisalion, The vision of our'oulslanding, attainment has been developed to fil our purpose into the context ol a sector that 15 rigorously r8gulated by regulalors such as Ihe Care aualily Commission ICQCI, Ofsled, Local Aulhoriligs, Ihg Charity Commission and other quallty mark organisalions. Further, the vision lakes into account our allainment ol our <)wn chosen qualily markers through our Govemance Framework.. A Culture ol Excellence. Wilh regards lo the 'dignified' element ol the vision, this r81at85 back to a value check against our f2ith-based origlns within the cathol￿ Soci81 Teachings including.. Human Dignity Community and Parhcipation Care for Crealion Dignity in Work Peace and Reconciliatlon Solidarity 8nd long-standing and respected values wllhin our Charity. Thgrefore, our vision acknowledges the standards of a holistic environment, which includes the people we ca ru. stakeholders Ilncludlng colleagues1, regulators 8nd a strong v81ue base. We are making sure that we ar8 Making significant ¢hanges lo the waywe provide and govern our servSces. We wll make sur8 that, above all, the dlgnlty of the people we serve is paramounl. The objeclives of the Charity are to provide for the= Relief and care of children through the provision ol an 3doplion serv1￿. Provision ol res￿entIAl hotne5 andlor 5UPPOrtive community servic88 for families, p8rents. carers and chlldren. Docwlgn Env4q)& ID.. 5C0948B4-AFDD-4DA3-8259-C773F10B606C Nugent Care 2019 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Advaneemenl of education and rpliglon lin accordance with the Rornan Catholic Foundation of the charilyl through its speclallst schools, resldential homes and community-b8sed provlslon. Supptsrl and improvement of Ihe quality of life of p&ople with physical andlor leaming disab¢liti8s through the provision of residentSal homes and supportlve communlly s9Ni¢es, includlng day provision and Ilslening and advocacy services. Provision of residentl81 eslablishmenls and supportlve ¢ommunily seKvic8s for older people. Support of such Olher charitable purposes lor Ihe furth8ranc8 of education or the relief of poverty or suffering ol those in need. The Tnjslees are satisfied that the objecliv8s of thé Charty are beSng mel in the range of activities thal 11 undertakes. The Trustees bdi8ve Ihat the Charittys well-lounded reputation for excellence in th8 services it provides in the Northwest will en￿￿e It to meet any emerging needs in th8 futur8 in continuing advancement ol ils objectives. Our Footprint W& d81iver all of our aclivlty in the North West ol England with s8rvic8s spannlng across Liverpool, Sefton, St Helens and Wigan local authority areas. Publlc ben8flt We have referred to the guidanc8 contained in Ihe Charty Commission's general guid8nce on PLiblic benefitwhen revi8wing our aims and objectives and wh¢n planning our future aclivits'es. In particular, the Trustees ensure how planned aclivilies will conlribuie lo the 8ims and objectives they have sel. Colleagues and Volunteer8 The Trusteeswish lo record theirappreciationto all colleagues and volunte8rs for theirexpertise, unslintlng efforts and dedicatK>n. Through Ihls dedicalion, Nugent is able to r8ach oui and m6et the needs ol so many p8opl8 in our community and make a real difference to their lives. Our colleagues and volunteers are essential to the work Ihat Nugenl does. They d8dicale their time, expertise, passton and cornpa55ion to the wod( that we do. CHARITY GOVERNANCE CODE ALIGNMENT The alm of the code Is lo help charities, and their trustees develop hlgh slandards of governance. It is not È leoal or regulatory ￿qUireMent.. it draws upon but is different to Charity Commission gLJidance. The CrKle sols the principles and recommended pra¢ll¢e for good governance and Is dellberalely aspiralional.. some elements ol Ihe Code will be a stretch for Nugent to achieve. It is lo be Used 85 8 tod for continuous Impravement towards the highest stsndards. Nugenl has adopted the principles ol the code. ACHIEVEMENTS AND PERFORMANCE- CHARITABLE ACTIVITIES Nug8nt describes118 ch8ritabl8 8cUvliies under four maln areas. Th888 ar8 Homes (split botween child￿￿.$ and adultsl, Education, Community and F8mily. FINANCIAL REVIEW Responslble Investment Policy and ObjectivÈ$ Nugenl has a R8sponslble Investment Poll¢y. TheTrust Deed givos theTrusiees unreslrlcled powers lo delermin8 inve5tmenl policy. ensuring Ihat it is d8veloped in line wlh the needs of Ihe charity and lis volLJes and principles. Th8 Trustee5 appoint prolessional investment managers to manage the investments on a dis¢relionary basis and have agreed arrang8rn8nls for reviewing and assessing their performance and portfolio selection. All investment Doc￿svJn Envekjpe ID.. 5C094884-AFDD4DA34259-C773F10B608C Nugent Care 2019 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2D25 decisions ar8 d8legaled lo the appoint8d Investment Managers but must comply with Nugent's ethirAI conslderalions and be carried out In the charity's best in18r8sts. The Investment objective for the long-term investment portlolio is a lolal relum. ba8lS to preserve ¢apil81 in real terms with an annual return lo the Charily from dividends and intere51 or rgalised capital growth as iequir6d. The Charity airns lo generate a retum over the long term of 4% above the rate of inflation as measured by Consumer Price Index ICPII. Monetary larg&ls lo be reviewed and comrnunica18d lo Inveslm&nt Managers annually. The listed inveslmenl portfolio decreased in value by £173k to £5.464k12024'. £5,637kl. The portrolio produced an income stream of £114k to support our Charitable activities. Resetves poli¢y Nugent C8r8 1$ a thsritable trust wSlh 8ctivllies dependent on donations, legacies and other charitable gifts.11 also functions as a 58FVIC8 provider, managing lees and grants froffl stalulory kK)di¢s lor speclfic aclivili85, projects and 88rvi￿$. Reserves are held io enabb Nugenl lo meet its legal and moral commilmenls to the people il serves and its oblig81ions as a good omployer. The Trustees sh811 have power lo establish funds for parlicular purposes or to mainlain reserves. The spècrfic purposes ol the reserves held ara to 8nabl8 the Trustees to.. Cov8r lh8 financial risks involved in provlding the level of $8rvi¢es and acllviti8s already approved. Provide a reserv8 for the development ol exlsllng and new services approprlate for the Charity.. and Me61 the shortfall b8tW88n, 8xpe¢ted leveL% ol lundralslno 8nd th8 8conami¢ cost of actwities wholly or partialty dependent on voluntary funds. The Trustees consider and review the appropriate requirements for free resetves Ibelng those unreslricled funds not expended on fixed ass81s, d8sigNated for specific Purposes or oth8rw188 commitledl. The Trustees have delermlned that the Opiimum level of reserves should be In the region of 6 months of support costs. After deducting designated fvnds, un¢ommitied reseNes freely available for Current a¢tiwtie5 were al £2.1m. Given that Ihe 2025-26 annual support cost bLJdgel for the Charity is £5.2rn16 rnonlhs £2.6ml, the currenl16vel of re5erv8s does not comply with Nugenl's reserves policy. A¢livilie8 Sin￿ the year end have increased reserves lo a level which doe5 comply wilh Nug8nl's reserves poli¢y. The Trustees have considered the Ch8rily's fin8nci81 perfonnance for the yearlogelher with th8 irnminenl impact ol some of the growth plan inilialives and sale of assets. Th8 Trustees are aware of the risks lo the position, Ilhe most pertlnent of whSch are r15k of Non-compliance with regulatory requSremenls 8nd the risk of inllalionl, through downside scerkario planning and cash flows. Truslees recognise that the miligalions required to tneetthe reserves policy in the future will be potential in¢r¢ases lo surpluses and. if required. the sale of assets and inveslmenls. It also recognlses that asset sales may exceed current assel values. Therefore, Trustees have considered the r8S8trv8s pollcy and still conslder it to be appropriate they have assessed the above risks and are satisfied that, given also Ihal the charity's operations are subslanlially funded from slalulory sources, Ihere is sufficienl &ccess to miligallon lo meel Ils obligations if r6quir8d. Income Total incoming rgsources for the year redU￿d from £21,596k to £20,371k. Our Independent Special School generated less income than the previous year at £2.932k12024.. £3,251kl, mainly due lo a decrease in pupil numb8rs. Income from Residenllal Homès and Individuallsed Day Seivlces decreased ye8r on year to £16,160k12024= £16,578kl. DocusvJn EnvelDpe10.. 5¢0948B4-AFDD-4DA&8259-C773F10B606C Nugent Care 2019 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Income from donations decreased from £164k in 2024 to £157k in 2025 due lo challenges f811 across th8 S8Ctor a8 a result of in¢r8ased cost of living. L￿9cleS do¢ro888d from £150k in 2024 to £39k in 2025. Expendlture Total re50urcès 8xpend8d during thè year incrèasèd from £20.492k 10 £21,391k. Therè was a decrease in expendilure of £101 k with ￿SpeCt lo the Independent Special School due lo ther8 being fewer pupils Ihan in the previous year. Expenditure on Residenlial Homes and Individual D8y se￿ie8s increased by £933k as a result ol gi0￿h of the ch8rity during the year. Expendlture on Children's. Adu115 and Community Services In¢￿aSed by £78k. SurpluslDeflclt The Slalemenl of Finan¢ial Acliiities Shows a net decrease in tolal funds of £1,193k arter taking inlo account losses on Invesimènts of £173k. Thls Is compared lo a net decrease of £1.544k In 2023124. Nugent has faced a nurnb8r of thalléno6s during ihls financial year around incom6 gen6ratlon and staffing, whl¢h has resulted in nel expenditure of £1,020k. a de¢rease of £2,124k before taking into account movernents in inv8stmènts. Ths stsiarnéni of Financial Aeilvitias shows a net deerease In iolal funds 01 £1,193k after taking into account losses on investments of £173k. This is compared lo a net increase of £1,544k in 2023124. with Ihe decrease being a result ol challenges laced throughout the seclor around pla¢ernenls and staffing costs. Nuganl continues to oper8te within a difficult environment as a result of Ihe finanaal constraints pla￿d on Local Authorlll69 with regard lo the lunLling ol adults, and children's homgs. Th6 Trusteos regularly ￿vIeW operations lo er)sur6 that Ihere is no jeopardy lo the Charity's obje¢lives and thal Ihe18vel of approv8d deficit funding of some seNices provided is consi51enl with the longer-term objective stated in th6 resorvos polley. Tanglble Flxod Assets As 0131 March 2025. Ihe nel book value of properties and adaptions was £7.9m. Should the Trv$l8es dfjcKle to revalue the properties as at the year 8nd, th8 fair v8lu8 would stand at £26.1m. Homes- Chlldren Nugent promdes open children's hom8s, regulaled by Ofsied. During 2024 Lime Grove Coit8ge achieved rated as Oulslanding by 0151ed. The Meadows, The Willows and Clumber Lodge achieved 'good' ratings in all are8S during Ihelr 24125 Inspections. We also have Marydale Lodge, our Secure chI￿ren'S Home. th81 currently accommodates young people under Saclion 25 01 the Children'5 Act. Marydale Lodge received a 'good' in the recent January 25 inspeclion. Name of HOMÈ The Meadows The Willows Clumber Lod Lime Grovo Cotla Marydale Lf)d Rating Good Good Good Oulsialldin Good Turnovar Comparisoii 22124 £11.3m 24125 £9.7m -£1.6m P8rforrnance from a regulatory perspedive was strong, however we saw a shaip reduction in linandal performance when compared lo 23124. This is has been due lo recwilment challenges al key sety￿eS wlw'ch impa¢is the number al youvg p80p18 wè are able to care for. During 24125. we began d8veloprn8nl of 8 Young Adults Pillar, supporting carè 188vèrs 8nd 16 plus accommodation within a tenancy model at a number ol sites across Ihe Liverpool City Region. Do(￿￿[￿n Envebpe ID.. 5CO948B4.AFDQ4DA34259£773F10B606C Nugent Care 2019 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Homes- Adults Nugenl provid&s residential care and support lor adults across three, CQC-registered, specialist homes. Lime House, a 26 bed horn8 in Lowton lor older people. Margarat Roper House, a home provid5ng residential carg and support for 23 individuals with mental heallh difficulties and St Josephs, bAsed in L￿erpOOl and home to 18 indlvlduals Wlth acquiied brain injuri8S. Naine of Home Sl Joseph's Lime House Mar aret Ro Rating Gthod Good Re uires Improvement 8r House Turnover Comparison 23124 £J.&m 24125 £3.8m +£0.3m Delivering adult social care continues lo present significant financlal pressures. particularly in larg8r car8 hom8S. Efforts are otvJoillg to 8nhanc8 income generation and reduce the raliance on agency staff across all Serv1￿$. The slrateglc plan aligns with the wsion lo implement adult palhwsys across services. Following a 'Requires Improvemant, ratlng. a wraparound 18am provided support at Margaret Roper Hous8 and programme of targeted improvements continues lo st￿ngthen servlce delivery. Edu¢atlon Nugent House School is an independent specSal school for pupils wrth 5P8CI818durational n88ds ISENI Th8 school continues to revi8W 8nd further develop its provision lor pupils wth social. emolSonal and mental health needs ISEMHI. The school eurrentW provides for811 key siAoe levels of learning frorn primary through to 6ts1 Form which translates to a prowision for young people aged between 7 and 19. The decision lo seek a partner to lakè on Nugenl Hose S¢hool was matje, and all stakeholders have been kept well-informed as this work continues. The decision to be transparent has impacled on the pipellne of pupil referrals, however. The academic year 2023124 ended wilh 45 young people on roll 8t Nu9ent House School, 2nd proj8ct8d numbers lor July 2024125 are currently al 48. Name of Provision Nuge.iil Hc)use Schotsl Rating Good Turnover Comparlson 24125 £2.9m 23124 £3.3m -£0.4m Turnover reduced In 2412$ against the previous year. To mlligate thls, we have negolialed fee Incre8ses from txjr commissioning Local Auth￿ItieS to thfl8Ct increasing costs of service delivery. We have also taken a range of Measures Io stringently conlrol wsts. Docuslgn Envdope ID.. 5C094884AFDN40A3-B259£773F108606C Nugenl Care 2019 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Community Our community-b8sed setvices cover 8 wid8 range of personal situations and provide support Icb over 100 people across SUPPOrted housing lor adults (both dlrecl In our homes and support provid8d for houslng provides), mental health outr88ch services and community supwrt services. Name of Provlslon Ratlng equires Improv8Tnent Nugenl Comn)unily Choices Tu*novèr Comparison I 24125 £2.7m 23124 £2.1 m +£0.6rn This year has highlighted the persistent challenges surrounding the funding of adult social care across all ommunity service5. A continued reliance on agency slaffing renects (he prgs$ur8s of a highly cornpelits've and difficult recruitment market. In response, work is underway to r&v16w and rafine 5hifi Strudu￿5 to Improve effic19n¢y and s8rvic8 d81iv8ry. Famlly This atsa of the business provides aduplion s8tViC85 and suppori to a number ol families and local aulh(Jrilies. During 24125, 11 thildren were placed wth 8 new families. A sibling group of 3 children, a sibling group of 2 children and 6 individual placements. Two of th8 individual placetnents have been tnade tsn a Foster lo Adopl basis, offering'eafly permanence. to these children. There have been no placementdisNpts'OnS during this pèriod. Our Adoption Panel approved 4 new families in 2024-25 which Is a 60% decrease on the previous year. Th8rè has been a nalional short8ge ol adopter5 during this period whi¢h has impa¢led greatSy on lh8 pipeliiie ol prospectlve adopters comlng forward. Work lo try and enhance the number of people wg are able to help with placemenls and addllional income In the familys service area continues. Nama ol Home Nu(i¥nl Adoption Rating Good Turnovèr Comp.adson 24125 £0.4m £0.4m -£o.o Tha Adoption Support Social Workers worked al capacity throughout thè rsportlng perio(5 offerlng support lo 37 families. This support ranged from pre-placement support and guidanco with Iransilions and eady attachrnev>ts, through 10 supporlinu adopted families wilh safeguarding coneerns, 8ducalional Issue5 and therapeuli¢ parenling support. There has been an Adoption Supr>ort Social Worker recruited from an Education background during the reportir5g p8ri0d. CotntniS5ioned work Irom Bolton and St He￿nS Councils has continued through￿1 this period. Bolton CounGil commission non-Agency Istepparentl Adoption work from Nugent. these cases ore shared across the Te8m, meanlng that both assessing 50clal workers and supp)rt social workers complele th8 Court work on these cases. St Helens council comtNi551on Life Story Books from Nugent, for children wlh a plan of adoption. Again, these cases are allocated across the team. Costs have continued to be ￿vieWed and reduoed to address the overall financial sufficiency of the adoplion service. Docu$￿n Envelapelo.. 5c094884AFD￿4DA34259-C773FIoB606C Nugent Caro 2019 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Our Future Now In 2024125, a number ol teams within Nugent wttre marged lo form 'Our Future Now., dedicated lo creating meaningful, long-lasling impacl across the Liverpool City Re9￿￿. Thi5 transition brought logelher Communily, Caritas, Volunteers, and Fundralsing teams under one strategic umbrella. The integration n()l orFIy streamllnes efforts but a150 slrenglhens ou¥ mission lo deliver svppoil whenever and wherevei it is naeded Most. Thfoughoul the year, we've de]￿ered a series of high-impacl ev8nls that nol only raise(J vltal funds but also deepened public understanding of our work.. Sleep Out with Nugent Nugenl Gala Nugenl Arclic Chalbnge Good Shepherd Appe81 Masses Light Up a Life A lange of bespok9 challenges and lundralslng ev8nis laken on by our 8m87ing supporlers in ald of Nugenl. There have been no complaints received relating to fundraising aCt￿lI1e5 during the 2024125 period. ThSs reflects our continued commilmenl lo ensurlng that all fundraising is conducted in a respecllul. Iransparent. and responsible manner. To protect vulnèrab18 indiMdual$ in connects'tsn with our lundralslng afforts. W8 hav8 irnpI@mented the folbwang key rn8asures'. Safeguarding and elhic81 fundraising training lor staff and volunteers Clear ¢onsent and Communicati￿ polieies. ensuiing individuals are never pressured lo don8le Rlsk 8ss6ssm8nts for pth)Iic-facing events and campalgns We remain alvJn8d with the Code of Fundraising Pra¢li¢e and are comrnitled lo upholding the highest standards in 811 our acliwlies. SIGNIFICANT EVENTS Property Actlvlty Nugent House School Low8r Fi8ld, Billinge- During 24125, we agreed heads of term8 for the sale ol the portion of land that is south of Nugent House School. The d8al will see Nugenl receive a capital ￿Ceipt and 16 properties as part of tho proposed deal. Clarence Hou881W8sl Lane Land Sale In December 2024, the housing scheme proposed by Redrow, purchasers ol the land from Nugenl, for the Clarence H￿se1weSt Lane silè recelved approval. This ffli18slon8 trigg8red the eventual completion in June 2025. PLANS FOR THE FUTURE In January 2025. Nugent's Tru8tee5 approved its S-yearstralegic plan., an ambitious plan. notjusl for Nugenl bul lor th8 Lwerpool City Region, Ih81 sets out a Collaborative vision thal we can lo98lh8r, provide a lilelong palhway of support forindividuals 8fjd communitiss in neetr,. Our strategi plan is called "Imagine Our Worlrf, as we ask the Liverpool City Region lo imagine what Can be achieved if we work together, and the posllive impact we could have on vuln8rable Individuals and communitles. Irragin8 Our World sels oul Nugenl's live strategic prioritiès.. Accommodatlon Providing safe spaces for those in need 10 Do¢uslgn Env81opa ID.. S￿948844FoD.4uA3￿259-c773FlO&6O6C Nugent Care 2019 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Employabllity Empowering individuals ￿th thg 8kills arKI resources needed to sevjre employmenl and bui sustainable livelShoods Poverty Allevlation Seeking io addr88s all forrns of wv8rty. such as food, hygiene, and finanrial cri51s Quality of Lifo Slrenglhen the ability of the pooplg WE support and our colleagues to sustain a hoallhy quallly of lrfè Making Memoriès Crealing opportunities for individuals and famlli9S to oxperi8nce loy, break cydes of adv8rsity. and ¢r8ate lasting MemorI8S Whilst Nugenl aims to continue to serve the needs of it5 cornrnunity through the provision and adaptalion of existing services. Ihe Im8gine OLsr World strategic plan outlines the objective of Nugenl b8coMing a Regisler8d Housing Provider. Delivery of Ihls objeolSve will support Nugenl become more financially sustainable. whilst deliverlng against its str&i6gic prioritie5. The Trustees, however. acknowledge thal with respect to existing services difflcult d8ci5i0ns may hav8 lo be made1n relation to services that cannot aitract sufflci8nl income to be economically v18ble. Rlsk Management Th8 Trustees examlne and review Ihe s￿nIficAn1 stra18gic, financial and operslional rlsks that the Charity faces. They have esl8bllshed systems and slruetures for ongoing identification and monitoring of risks, includinu a Governanc8 and Risk Committee wilhin a Board Assurance Framework and recefve r£guLar wratt8n reports relating to the op8ratlons and finance5 01 the Charity in all relevant respe¢ts. The Trustees h8ve regard to the recorntnendations ¢ontained in'Guidan¢9 on Risk Managem8nt. Internal Control and Related Financial 'and Business Repoilinu, issued by the Financial Reporting Gouncil in pursuil ol sound Corporate Governance. The TTUStees are satisfied that all reosonable steps are being taken io manage all identrfied risks. Nugent has a defined rlsk appetite, a framework whl¢h enab￿$ the organisation to make Informed management decisions. By definlng bolh optimal and to18rable positions, Nugent is ¢188rly selling out both the larget position In the pursuit of Ils slrate9i¢ objectives. The benefits ol adopting a risk appetite include.. Improv5ng informed de¢isioTrmaking. 1ocv8ing on priority areas withln th8 organlsation R8ducing uncertainly Improving consist$ncy across leadership and govemance mechanisms and deoision-making Supporting verfarfflan￿ irnprovetnent Informing sp8nding r@Vi8w and resource priorillsalon processes Key Rlsks Some ol Ihe key rlsks wé tra¢k and control are 88 follows.. Failure to saf8guard our charsty's benefiu8rles or assodaled vulnerabl8 persons, induding ¢hiklren, from abuse and maIt￿at￿anl, Our chariiy lalls lo comply wllh or is unabla to me8l appllcab18 regulatory requirernenls, le8dlng to repulalional damage and financial pena1t18S. Insufficient Income and reserves for us lo achleve Its gtraleglc objestives and maintaltt Its opèrallons. Insufficient working capital to Ivnd our growth plan. Th8 charSly does not achleve ils strategSc, charitab16. regulatory and ethical objecllves du8 lo Inad8qUate governance at the board. @xe¢utlV8 and senior management or operational levels. li Nugent Care 2019 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The risks we track are not limlled lo Ihg above. Using our risk management framework, we ensure that sufficient mitigation is in place to adequately control risks and all 8CtNe risks are reviewed on a rnonlhly basb. STRUCTURE. GOVERNANCE AND MANAGEMENT OrganSsational structure Nugenl Care 2019 Is the Sole Corporate Trustee of Nugont Care. Nugent Care is a Reglsl8r8d Charity and a Company Limited by Guarantee and is governed by its Articles and Trust Deed. The Charity has two subsidiaries, Nugenl Community Inter6s1 Company and Nugenl Academy Trust. Both are currently dormant. As part of (Mjr slralogy. Nugenl Academy Trust was dissolved on 6 August 2024. The ArGhbishop of Liverpool is Ihe'Presidenl' of the Charity. The Archbishop of Liverpool, in accordance with the powers vested In him by the Trust Deed, appoints one Nominee to the Trustees. Further Trustees are appointed by a resolution ofthe Trustees in a￿OrdanCe with the powers vested in them bythe Trust Deed and Mernorandum of Articles o*Associalion Df Nugent Care 2019. The company and governance structure is as follows: Lo(AIAdvlW rd Examples of sources of intemalaudlt and external assurance CQC1015tedlOIE Fundraising Regularor Chiirily Conmi55ion NICI. Health an C3re Standard Internal Audiis Trustees From 1 Aprll 2020, Nug8nt Care, the Charity {working under the branded rbame of'Nugent'} has been governed by Nugenl Care 2019 Ltd. The role of Trustee is to ensure Nugent. as a major employer and provlder of servlces to people Sn need, operates effectively wlthin an ever-changing environment thus ensuring maximum service delivery lo all setvice users. Also to provide strategic guldance and direction lo Nugent In line wilh Nugenl Care's Charitable Trust Deed and Nugent Care 2019 Memorandum and Articles of Association and the Principles which underpin Nugent's work. The responsibilities of a Trustee are clearly laid out in Charity CommissSon guidance and other literature. 12 Docusign Envelope ID." 5C0946B4-AFOD-40A3-8259-C773FIO8606C Nugent Care 2019 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Nug8nt's Board of TrLiSte6s ¢onsisls of 6 Trustèes who meet at least 4 limes per year lo rewew strategy, business plans and finance and op8rations. Trustees also meet for one whde day oncg P8r year to look gt lh8 fulur6 direction of Nugent. Trustees are appoinled for three-year ierms that are renewatile lor up (0 9 years wth the exception ol the Ar¢hbishop appointed Trustee who would ¥emain in rde lor as long a5 they or the Archbishop chooses. Trustees are recruited through recrultmenl ¢ampaions and perstsnal recommendations. All su￿8ssful candldal&s are selected through a safer recruilm8ni process Involving th8 Nominations and Remuneration Commitlee and lh8 Chair ol Trustees. Any person that is offered a rol8 as a TTU51ee, lor Chief EKeculive or Director), will be required to submil an aijlomallc disqualilicalion declAration as part of Ihe pre-employmenl checks. All new Trustees take part in Inducllon programm8, lèd by ih6 Chief Executive with support from the People team, lo ensur8 that (hey lully understand theirroles and responsibilities and Nugenl's values, mLssson and aclivily. Nugent's Board of Trustees are dedicaled to embedding govemance best pra¢lic8 to deliver organisational ¢ompliance. Th8 chariiy inspects itself8gainst the Charity Gov8m3nce Codè every 2 years, wilh its last inspection taking plÉco In February 2024. Nugent achievecs a result of 95°k whi¢h is a sllght incrèase on the previous inspection resu51194°101. Trustee Subgroups Our twstee sub subgroups are as follows.. 1. Finan￿ and Investments 2. Nominalions and Remuneration 3. Governanee and Risk They are intended lo ensure Ihal Trustees have the wrrect forums to successfully discharge their responsibilities. Chairs ol these subgroups are free lo meel outsid8 ol the main board. They can consist ol any trustèes who wsh Its 81tend if the respeclwe Chgirs feel matters require it. Executive Office Team Ill every day prac.lica the Trustees delegate the day-lo-day operalions of the Charity lo the Chief Executive and the Execulivg Office lo ensure that sysletns are in place lo adequately safeguard against mismgnag8m8nl. Misdi￿CtIon or mistake. The Chlef Executive r8porls direclly to Ihe Chair of Trustees. In the ev8nl of a va¢an¢y, the Chair along with the Truslees would oversee the arrang8menls for the appointment of a new Chief Executive. The Trustees have worked ￿th the Exe¢utivo Office to develop our long-term strategy for Ihe Charity. Responsibility for implementation of the slralegy 15 delegated lo the Executive Office through an agreed thre year business improvement plan. Related p8rt1es Nugenl Care is assoualed ¥￿th the Roman Catholle Archdi(Kes8 of Llverpool and the incumb8nt Archbishop is the Pr88id8nt of Nugenl. This link is a conlribuling influence on the ethos, culture and obJ"eclives of the charity. Nugent Social Enterprlses CIC INSEI wa5 formed by Nuoenl. The company is 8 community interesl company Énd as such is a separate entity from Nugenl, bul its activities are controlled by Ihe NSE Board of Directors. The activities of NSE are not consid8r8d rnalerial to show a true 8nd fair and have not been consolid81ed into these accounts. NSE was incorporated on 23 Decetnber 2013 and b8gan trading in May 2014. The communlty Interest company is currentty dormant, 13 [kn(￿s1gn Envek)p810.. sc0948B4-AFD￿4DA3425￿C773FIoB606c Nugent Care 2019 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Remunoratlon Poll¢y for Chlef Executive The r8muneralion lor the Chief Executive is determined by the Nominations and Romun8r8tion Commi116e and in line wilh our R8muneralion Policy Ipubllshed on our w8bsilg1. The ¢omrniltee takes into conslderalion.. Bènchrnarking pay against the lower ousrti16 of the relevant market Icroner Market Reports). Internal pay differen1131s. Provides an overall p8ekage of rewards 8nd recognitions that is good within thè charitable $8¢tor. Is consistent and open in how employees are rewarded and reco9ni58d. SECTION 172 STATEMENT Th& Trustees have a duly to promote th8 SUCC8ss of the Charity and in doing so 8ra r8qlJ8St8d by Section 172{il ol the Companigs Act 20(￿ to hav8 regard to.. The likely consequences ol any decision in the long lèrrn. Th8 interests of the Chaiity's employees. The ne8d to foster the Ch8rity's business relationshlps with suppllers, customers lin Nugent's case. beneficiaries) and others. The imp8cI of the Charity'5 op8r8tions on the comTnur)ily and the pnvironment. The desirability of the Charlly maintainSng a repulatlon for hlgh standards of busin¢5s Conduct. Our vision lor the organisation conllnu6s in the spirll of our purpos9, which Is to conlnue to provide and develop the kind and essential work of Father Nug6nl. Nugent developed ils Cur￿￿t,8elng Outstanding Strategy, with ils mlssion lo continue the kind work started by Father Nugenl that Is to.. 'Cara for. &ducatg, prol8ct and ffn8plr8 thosa n6&d'. Sharlng Informatlon wFth Employ888 communicati(￿ is key a¢r0s5 the org8nis81ion, and we end8avour to ensure that Snlormation Is eomrnunicated clearly 8nd rogularfy. Commltments Nugenl promotes our organlsallon fmm a valuos-based slandpoinl. We have a set of values that our decisions are m8de against. We also h8V8 2 sel ol principl8s that we work with th81 set oul how we operate. Our first decision 15 about wholher a decision ultr'malely benefils the people we serve, aur beneli¢iaries, and secondly whether it is financially sustainable in that we achieve full Cost recovery 8nd that we are able lo pay a real living wage. W8 have signed up to sever81 frameworks within the Liverpool Cily Reoion lo publiclyded8re our8lignm8nt with certain initiatives. Collaboration Memberships Nugent Is a member of.. Association of Chief Execuliv8s IACEVOI 8rilish Qualily Fovndalion IBOFI Carilas Social Aclion N8twork ICSANI Children's Home Association (CHAI Downtown In Business IDIBI Knowsl8y, Liverpool and Sefton Chambers of CLYnmerce Liverpool Chamber Liverpool Community and Voluntary Services ILCVSI 14 DocusKJn Envebpe ID.. SC0946B4.AFDtk4DA34259-C773F10B606 Nugent Care 2019 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Natlonal Assttialion of Specia1 Schools INASSI National Council of Voluntary Org8nisalions INCVOI The Voluniary Organlsalions Disabiltly Grajp IVODGI Has signed up to.. Armed Forces Covènant Dying to Work Liverpool Social Valu8 Charter Show the Salary Registered wilh= Care Quality Commi5slon Charity Cornmlssion FundTaising Regu18tor Olsted Wa arè unlonlsed with a recognition agreement with Unison and an MOU with Teaching Unions. We achieved our ¢ommilmenl to being all entirely Living Wage Employer in April 2022. W8 are a Oisabilily Confid8nl Employer. People During 2024125 has soen Significant advan¢ements in our commitment io fostering a progressive, equitablè. and rewarding &nviionment for our coll8agues. These strategic inilialnies arè integral to our long-term sustainabilily and the continued development of a high-perforffling wod(force. A corner5ton& of this progress ha5 been the refresh of our Equality, Diversity, and In¢luslon IEDII strategy. Th update moves beyond compliance. embedding EDI prin¢iples into our ￿ganISational ¢uMure. ts18nt acquisition, and d8v8lopmenl pathways. In line with our comrnilment to fair and transparent remuneration, w8 Successfully cunpleted the implemenlalion of new pay bands and the streamlining of lerms and conditlons. This h8s simplified our compensation structure, nsur8d grealer internal equity, and enhan￿d clarity for a118mploye6s regardin9 th￿r 1gmun8raliorn and benefils. Furthertnore, we proudly continued our commilrnenl to being a Real Living Wage employer. This Suslained dedicatK)n en5ure5 that all our 8mployees re￿1ve a wage Ih81 meets the cost of everyday needs, reflecting our core value of 5UPPOrting the well-being ol our workforce. Looking lo the future, a key achievement has been the successful launch of our Leadership Academy. This bespoke progratnme is deslgned to ¢ultivate and nurtu￿ our inl8rn81 lalenl, equipping ¢urrent 8nd future leaders h lh8 essential skills and strateaic mindset required to drive organisation81 success. Culture of Excellence Framework (Governance, Rlsk, Assurance, and Improvement) Nug&nl's Cultur8 of Excellence IGovernance, Risk. Assurance, and lrnprovement Frarneworkl is lully embedded across all servicos operated by the charily. The frsmework is now malure, supporilng services with greater transparen¢y of non-conlorman¢e, and with dedicated support in implernenling preventative action. Nugent has aehieved ISO 9001..2015 certili¢ation for ils quality management syslem IGovemance, Risk. A55urance, and Improvement Framework), coverlng the management of all areas ol the charity. Thls c8rtificalion provides assuranc8 lo stakeholders that Nugenl's Culture of Exeellerice has been extemally verified and that it rneels the recognlsed international slandard for quality management. Its Culture of Excellenc8 Framework has become a comerstone of everything that Nugenl does and strivès to athI￿e. 15 Docu9ign Env8lope ID.. 5C0948B4-AFDtk4DA34259C773F108606 Nugent Care 2019 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Envlronment Streamlln8d En8rgy and Carbon Reportin9 Nugent ca￿ 2019 Ltd is mandaled to disclos8 our UK energy use and associated greenhouse gas IGHGI 8missions. Nugent is reouired lo repori those GHG emissions. and as a minimum is required lo report natural gas, aleclri¢ily and transport fuel as well a5 an intensity ratlo under the Streamlined En&rgy and Carb(n r8POrting ISECRI regulations. Electri¢ Car Charging Point$ During 23124, we completed the inslall of 818clri¢al charging ports al our head office. Thi$ initiative will continu in 25126 lo rnaximise grani lev81. This proleci was int¢nded lo complete during 24125 but funds were directed to hrgher priority projects. ESOS Audits We have under18ken 8 renewed Energy Saving Opportunity Scheme IESOSI 8uni8y of 811 buildings in our portfolio. Our alm will be to identify and comp￿te all low cost, high impad actions as qulckly as pos51bl8. Energy All energy data is t8ken from our 24125 Stre8mlined Energy and Carbon Reporting ISECRI. Malon8ys Assaciales have collated consumption data for the 23Q4 financi81 year. Emissions are expressed in tC028 in order to provide standard unil for reporting of all emissions sOu￿e$. The total emissitsns for the period were 818 tC028. This Ss a decrease 011 Yo compared io our baseline 20121 SECR Y￿r. We Continue lo work on becoming more efficient as a buslness and will bo l01lowlng our curront ESG strategy lo ensure w8 continue lo improve the efficiency of our properties. The large reduclion we have made is down lo Some stock rationalisalion, the dosur8 of our adoption office atKI soffle energy improv8menl work compl8ted. GOING CONCERN Th8 Charity incurred n81 expenditur8 for Ihe year to 31 March 2025 01 £1.Orn and al th81 dale held net 8ssets of £13.2m. Forecasts of fulurp cash generation ac.ross the Charity have been prepared Iiom the dale of approv81 of these financial slalemen15 until the end ol March 2027117 monlhsl. Thes8 for8casls lake account of C￿r￿nt and expe¢led ch8nge5 in th8 wider economic environment, such as increases to the rzle of infLg1ion and changes lo Governm&nl poli¢y alld a55ume that Ihe overdraft facilities Currently provided will be rnainlained. Downside S￿nario$ have also been prepared, encompassing risks and polenlial shortfalls in income and asset Salès. The forecasts assume thal overdraft facilities ¢urrenlly provided be maintained. Nugenl holds inve5tmenis which can be liquid&t8d if required, as W81188 8ssets which coukl potentially be sold at a hlghei value than that recorded in the accovnts. Based on review of the above, the Trustees have conclud8d that there are sufficient resèives h81d al the year end, together wilh increases since the year end, lo creèie a r8asonable expeclation that Nugenl has adequat8 reSoUr￿S to conllnue Sn operational existence for the foreseeable fulure and that 11 is Ih8refore approprLate lo prepare the charity finanGial statements on a going con￿rn b881S. EVENTS SINCE THE END OF THE YEAR Information relating lo event5 since th8 8nd ol the year 15 given in the notes lo the financial stÉlements. 16 DOC￿l9n Envelope ID.. 5C094884-AFD04DA34259-C773F10B606C Nugenl Care 2019 REPORT OF THE TRUSTEES FOF4 THE YEAR ENDED 31 MARCH 2025 STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees (who are also director8 01 Nugenl Care 2019 for the purposes of company lawl, are responsible for preparing the R8port ol the Trustees Annual Report (including the strategic Teportl and the financial stslemenls In aceordance ￿￿th applicab58 law and United Kingdom Accounting Standards Iuniled Kingdom Generally Accepled Accounting Prac11￿) including Financi81 Reporting Standard 102 "The Finan081 Reporting Slandard applicable in the UK and Republic of Ireland" Cornpany18w requlres the Trustees lo pr6p2rè flnanclal statements for each financial year. Under cornpany law th8 ItustEes musl nol approve the financial statements unless they are satisfied that they give a true and fair vi8W of Ihe stale of affairs of the charitable company and of ihe Incornlng resources and appllcalion of r8sources, including the incotne and expenditure, ol the charitsble ¢ompany for that pericd. In pr8paring these financial statements. the trust88s are requlred lo.. select suitable awounting polScies and then app￿ them conslstently. ob88rv8 th8 methods dnd principles in Ihe Ch¥rily SORP IFRS 1021. rnake judgements and 8stimat85 that are reasonab￿ and prudent. state whether applicable UK Accounting Slandafds have been followed, subject to any matèrial d8partures disclosed and oxp18ined in Ihe financial slat8rnenl5. prepare the financial statements on the going concern basis unless it is inappropriate to p￿SuMe that the charilablg cornpany wlll continue in busin8SS. The Trustees are responsible for keeping adequat8 accounllny r￿OrdS that dise105e wilh re3s0nable accuracy al any time the financial position of the charitable company and enable them lo ensurc thal Ihe financial slatements comply with the Companies Act 2006. They are also r8sponsible lor safeguarding the as58ls ol the ¢harilable company and h8nce lor taking reasonable slep5 for the prev8ntson and detection of fraud and other irregularilies. Audltor A resolutlon proposing thal MHA be re-appointed will be pjt at a General M￿lIng. Each of the persons who a Trustee at the dat8 of approval of Ihls report confirms that". so far 38 each Trusiee is aware, there Is no relovanl audit information ol which the charitable company's auditor is un8W8r8', 8nd each Trustee h8s taken all steps that they ought lo have taken as 8 Trustee to make thems81v8s aware ol any relevant audil information and lo establish that the Charitable company's audilor Is aware of that informglion. Approved by order of the Board of Truste88 on November 28. 2025 and signed on ils behalf by.. FthuL QLWniS JP Dennls - Ch8ir of Tiuslees Docuslgn Envelope ID.. 5C0948B4.AFDD4DA342Sg-cn3FIOB606C Nugenl Care 2019 REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES Opinlon We have audi18d the flnancial sta18menls of Nugent Car8 2019 Ithe'charfty'l for thg year ended 31 March 2025 whl¢h comprise the Stalpment of Financial Activities, thè 8alance Sheet, the Cash Flow S1318menl and noles 10 the financial stslements. including Signif￿aTrt accounltng policlss. The fInan￿81 reporting framework that h8s been 8pplied in IheSr preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 Th8 Fin8ncial Reporting Standard appli¢able in lh6 UK and Republic ol I￿16￿￿ (United Kingdom Gener811y Accepted Accounliry Praclicel. In our oplnlon th8 accompanwng financial slalemenls,. glve a Irue And lair view ol the st81e of the Charitab￿ company's affairs as ai 31 March 2025 and ol its incoming resources and applicat￿n of resources, including ils income and expenditure, for the year then ended.. have been properw prepared IN accordan￿ wllh Unit8d Kingdom Generally Aceepled Accounting Practice, including Financi81 Reporting Standard 102 'The Financial Reporting Standard applic8ble in the UK and R&public ol Ireland,; and hav8 been prepared in 8ccordance with the requir8m8nls ol the Companies A¢t 2006. Basls for opinion We condu¢led our audit in a¢cordance ￿￿th Intemational Standards on Auditlng IUKI IISAS IUKII and applicable law. Our r8sponsibillties under those standards are furiher described in the Audilorr8sponsibililies forlhs autlil of th8 financial stalem8nls section of our report. We are Independent of the charitable eompany in accordance with the ethical requirements that are relevant lo our audit of the fin8ncial statements in the UK, includillg (he FRC'S Elhical Standard, and we have luifill8d our 81hical responsibiiiilss in accordance with Ihes8 requirements. We b81￿ve that the 8udil evidpKe we have obtained is sutticienl and appropriate to provide a ￿sIS for our opinion. Concluslons relating to going Concern In auditing the finanaal 51alemenls. we have concluded that the Iruslees, use of the going ¢oncem basis of accountino in the preparallon of the ffinancial statements Is appropriate. Based on the work we have perform8d. w8 h8ve not identified ally rnalerial unceriainties relating lo even15 or con£Jitions Ih31, indiwdually or colle¢livety, may casl si9nifi¢anl doubt On the charitable companvs ability to continue as 8 going coneern for a period of at le8sI twelve months from when the financial slal8rn8nls are aulhorised for issue. Our respon5ibililies and the responsibilities of Ihe trustees with resp8Ct lo going eon¢em 8re described In the r81ev8nt se¢lior)s ol this r8POrt. Other Informatoon The other infonnalion comprises the information induded in the Trustees Annual Report, other than th8 fin8n¢ial statements and our Report ol the Ind8pendenl Auditors thereon. The Trustee5 are responsible for Ihe other information contained within the annual report. Our opinion on tho financial 51alemenls does not cover the other information and. 8xc8pI lo Ihe extent olherwise explicltly stated in our report, we do not express any fom of assurancs conclusion thereon. 18 Docwlgn Envelope ID.. 5C094884AFDD-4DA3-8259-C773F10B606C Nugent Care 2019 REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES Our responsibillty is to read the other inlormalion and, in doing $0. cons￿er whether the other Informal￿n is materially ir￿OnsI8t8nt with Ihe financi81 slalements, or our knovdedge obtalned In the course of th8 audit or othen￿lSe appears to be materially misslaied. 11 we identify such matedal in¢onsisiencies or apparènt m8terial rnissialemenls, we arg required lo determine wh8th8r this gives rise lo a mat8rial mi5siatemenl in Ihg financlal Statements themselves. Ir. based on the work we have performed. we conclude Ihal there is a materi81 missialemenl of this other information. we are required to repori that fact. We have nothing lo reporl in this regard. Opinion on other mallers prescribed by the Companies Act 2006 In our oplnlon, based on lh8 work underlaken in th8 course of the audit.. the information given in the trustees. report. incorpoTaling Ihe dlrectors rgport, foT the financial year for which tho financi81 slalernenls arÈ prepared is consistent with the financial statements., and the directors report has been prepared in accordan¢8 with applicable legal requir&ments. In Ihe light of the knovAedge and understanding of the ¢harilable l￿MpanY and its environment obtained in th8 course of Ihe audit, we hgve nol identified material mis5t81emen15 in the directors, report. Matters on whlch w8 are raqulred to report by axeeptlon We have nothing lo report in r8spect of the following matters In rdalion lo whlch th8 Companles Act 2006 requires us to report to you if. in OUT opinion.. adequate accounting records have not b88n kept. or returns adequal8 foT our audit have not b88n received from branches not visited by us". or the linan¢ial statements are not in agreemenl wlh the accounting re¢ords and rolurns., or C8rtain disdosures ol directors, remuneration speafied by law are not made., or we have not received all the information and explanations we require for our audit or the trustges weie not enlitled to prepar8 the financi81 slalements in accordance with Ihe Srnall C(￿llpanies, regime and lak8 8dvanlage ol the sm811 cornpanles, exemptions in preparing the director5. report and l¥om the requirement to prepar8 a strategic report. Responslbllities of Trustees As 8xp13ined more fully in Ihe Sl8teFnenl of Tr￿lees, R8sponsiblllties slalement on page 17, Ihe Iruste8s (who a￿ also the diro¢lors of the charitable company for the purposes of company lawl are responsible for the preparation ol Ihe financial slatemenls 8nd lor being satisfied Ihat they give a true and fair vi8w, and lor such internal control Bs the Irusloes d8te￿Ille Is necessary to cna￿e the preparation of financial statements Ihat are free from material mis5talement, whether due lo fraud orerror. In preparing the financial 5t8lements, the trustees are responsible for assessing the charitabl& company's ability to continue as a going con¢8rn, disclosing, as applicable, mall@rs r61aled lo going concern and using the going eoncern basls of accounling unless the trustees either intend to liquidate the Charltable company or to cease upei'ations, or have no realisti¢ alternaliv8 but to do so. AEEditor responslbllSlles for the audlt of the flnanclal statemont$ Our objectives are to obtain reasonable assuiance about whether th8 fin8nGial slalemenis a8 a whole are Ire8 from material misstatement. whether due lo fraud or error. and to issue an auditor's report that includes our oplnion. Reasonable as8ur8nce Is a high 1gv81 of assurance bul is not a guarantee Ihat an audit (x)nducied In accordan￿ with ISAS IUKI will always detect a material misstatement when it exisls. Misstalemenls can 8Thse Irorn fraud or error and 8r8 CQn5idered mat8rial if, individually or in the aggregate, they could reasonably be gxpccled lo influence the economic deci51ons of users taken on the basis of these fi'n8nci81 slaternents. Do¢vsion Envelope ID.. 5C0948B4thFDN4DA34259L773F10B606C Nugenl Care 2019 REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES Irregularities, induding frsud, are instances of non-compliance wilh laws and regUlat￿nS. We design procedures in line with our responsibiliti85, outlined abov8, to cl8lect material misstslemenls In respect of irregularities. including fraud. Th8 extent to which our procedures are capable ol datècling irregulaiilies, including fraud is detailed b&low'. Enquiritss wilh Manage￿nI about any known or susp8c18d instance5 of non-complian￿ wilh laws and regulations., Enquir8s with management about any known or suspected instances of fraud., Reviewing rninules ol meetings of those eharged with governance.. Examlnallon of journal enlrle5 and other adlustmenls to 18$l for approprla18ness and identfy any instances of managem8nl override of controls- Reviewing the systems for recoréing revenue and t8Sted a Sarn￿8 of revenuo IroTn 80ur documentation to Ihe posting on the accounting system. Because of Ihè inh8renl limitations of an audit, the￿ Ss a risk that we will not delect all i￿gularItIes, including those leading to a material misslalemenl in Ihe financial slalements or non-compliance with r6gulation. This risk increases Ihe mor8 Ihal complianc8 Wlth a lèw or regulation is removed from the events and Irans8Ctions reflected In the financial slalem8nls, as we will b8 less likely to become aware ol instances of non-¢omplianee. The risk is also grealer regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional con¢oalment, lorg8ry, cdlusion, omission or misrepresèntalion A further description of our responsibilities for the audit of the financlal slal8mgnls is located on the Financial Reporiing Council's websitè al www.frc.org.ukl£udttorsresponsibilities. This description lorrns p8ri ol our Replyt of the Independent Auditors. Use of our report This repori Ss mad8 so191y lo the charilablg cornpany's m6mb8rs. as a body. in 8ccordance ￿th Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so Ihal we might slate lo the charit8b18 company's rnetnb8rs those matters we 8r9 required lo state to them in an auditors, report and for no oth8rpurpose. To the fu118sI extent permitt8d hy law, we do not &ccept or assurne r8sponsibility 10 anyone other than the charitable company and the charilable cornpanys rnemb8rs as a body, for our audil work, lor this report, or lor the opinions we have formed. Nicola Mason MHA Icantabl ACA DChA Senior Slaluloiy Auditor For and on behalf of MHA, S13lulory Auditor Richard House 9 Winckley Square Pr8Ston PR1 3HP December 9. 2025 MHA is the trading name ol MHA Audit Services LLP, a limit9d liabillty P8rtnèrship in England and Wales Iregislered OC4555421 20 Do￿s￿n Envelope ID.. 5C0948B4AFDD-4DA34259£773F10BfM)6C Nug•nt Care 2019 STATEMENT OF THE FINANCIAL ACTIVITIES (Incorporating Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restrlcted Funds Funds £'ooo £'ooo 2025 Total £'ooo 2024 Total £'ooo Not88 INCOME AND ENDOWMENTS FROM: Donalions and legaeies 129 67 314 Charftable a¢liviliès 19.631 420 20,051 20.799 Other trading aclivilies 10 10 60 InveS￿ent Income 114 114 136 Other income 287 Total income 19,884 487 20.371 21,596 EXPENDITURE ON.. Raising funds 317 317 328 Charitable a¢twities 21.065 21,074 20,164 Total exp8nditure 21,382 21,391 20,492 NET INCOMEIIEXPENDITUREI {1,4981 478 11.0201 1,104 TRANSFERS BETWEEN FUNDS 14 OTHER RECOGNISED GAINSIILOSSESI Net gainsllk)ssesl on investments 173 173 440 NET MOVEMENT IN FUNOS 11,6571 464 11,1931 1,544 Re¢oncilyatlon oyfunds: Total funds broughl forward 20 14,160 211 14.371 12,827 TOTAL FUNDS CARRIED FORWARD 12,503 675 13.178 14.371 Th8 notes form parl of Ihase fin8rKwl 5talernents 21 D(Kusign EnvÉlope ID. 5co94eB4-AFDD.4DA3-825￿c773FI0B6o6c Nugent Care 2019 BALANCE SHEET 31 MARCH 2025 2025 £'ooo 2024 £'ooo Notes FIXED ASSETS Tangible assets Investments Invéslmenis Inveslrnent property 13 7,858 7.445 14 15 5,464 5,637 13,322 13.082 CURRENT ASSETS Debtors.. amounts falling due within one year Cash al bank and in hand 16 1.372 296 1,872 1,398 1.668 3,270 CREDITORS Amounts falling du8 within one year 17 11,8121 11,9811 NET CURRENT ASSETSIILIAÈILITIESI 11441 1,289 TOTAL ASSETS LESS CURRENT LIABILITIES 13,178 14,371 CREDITORS Amount falling due after more Ih8n one year NET ASSETS 13,178 14.371 Tha n¢te5 loim part of thÈ5e financkql $18lem8n15 22 DorAisign EnvelopB ID.. 5C094884AFDD-4DA34259-C773F10B606C Nugenl Care 2019 BALANCE SHEET 31 MARCH 2025 Notes 20 2025 £'ooo 2024 £'ooo FUNDS Unre5tricled funds.. G&neral fund Designaled- langlblè fixed 8ssels Designated- investments 2,145 7.858 2.500 4.215 7.445 2,￿0 12.503 14,160 Restricled funds 675 211 TOTAL FUNDS 13,178 14,371 The financial statements were approved by the Board ol Trustees and aulhorised for Issue on .8n -PAuL QLw￿ls JP Dennis-Ch8ir o¥ Trustee5 Jonathan Oliver- Treasurer Company numbor 12227571 Th6 notes form p8rt ofthase financi81 s181emeniS 23 Docu5iJn Envelo￿10.. 5C0948B4-AFOD4DA34259-C773FIDB606 Nugent Care 2019 CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 Notes 2025 £'ooo 2024 £'ooo Cash flows from operating a¢tlvlties Net cash fk)w from op8r81ing aeliiqties Interest pald 27 105 2,151 Nel cash provlded byllused Inl operallNJ activitigs 105 2.148 Gash flows from Investing a¢tivltles Purchase of langible fixed assets S818 of tangible fixed assets Dividends received 11,3211 11.4001 287 136 114 Net cash provided byllused inl invesltng actlvities {1,2071 19771 Cash flows from flnanclng activitles Bank loan repayments in y88r 1871 Nel cash provided byllused inl financing actwilies 1871 Change In cash and cash equlvalents In the reportlng perlod Cash and ¢ash equivalents al the begimnlng of the reportlng perlod 11,1021 1,084 1,398 314 Cash and Cash 8qulvalents at the end of the reptsrtlng period 28 1,398 The nole5 form p8ri ol Ihése financyal slalements 24 DOCU￿0￿ Enve1op8 ID.. 5C0946B4-AFDD-4DA3-825K773F10B606C Nugenl Care 2019 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 1. ACCOUNTING POLICIES 8ASIS OF PREPARING THE FINANCIAL STATEMENTS Th8 financlal stalem8nts of the ¢harily, which is a public benefit enlity uNder FRS 102, have been pfepared in accordance with th8 Chanlies SORP IFRS 1021 'Accouniing and Reporting by Charities.. Sl8t8menl of Recommended Pra¢li¢e 2pplicable to Charities pr8paring their accounts in accordance with th8 Financial Reporting Standard 8pplicaNe in Ihe UK and Republic of Ireland IFRS 1021 (effective Oclob8r 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republ￿ of Ir8Iand' and Ihe Charities Act 2011. The financial slalemenls have been prepared underthe historlcal eosl o)nvenlion, wllh the exc8ption of investment5 which a￿ included at market value, as modified by the revaluation of certain assets. Nugent C8r8 201g 15 a ¢haritable company limited by guarantee. On 30tI) June the Charity Commission confirmed the linking of Nugent ca￿ and Nugent Car8 2019. Nugent Care continues to exlst in the same manner as it did prfor lo the linking direction belng made. From 1 Apryl 2020, Nugent Care, the unincorporated charity was gwen a n&w charity r9gistralion nurnber 011187072-1. These finan￿al slalemenls cov8r the adivllles of Nugent Care unincorporated and Nugenl Care 2019 lor the period under revK9W. As Nugent C8re 2019 is dormant and does not havè any assels, all activity relates lo Nugent Care unincorpoiated and addilional columns ancs results are not required for Nugent Care 2019. GOING CONCERN The Charity achieved nel expenditur8 for the year to 31 March 2025 of £1m anoj at Ihal date held n8l assets of £13.2m. Forecasts of future cash gener3tion across Ihe Charily have been prepared from the dale ol approval of these finanGial stal8rnents until thè end of March 2027117 monlhsl. These forecasts lake a¢¢ounl of current ar￿ 8xpected changes in the wider 8conoMic environment, such as increases to the rate of inlallon and changes lo Govemment policy and assume that the overdrall la¢ililifjs currenlly provided ￿￿11 be maintained. Dovmside scenarios have also b8en prepared, encornpassing risks and potential shortfalls in income and asset sales. The forecasts assume that overdraft facilities currently provided be rnainlained. Based on review of the above, the Trustees have concluded that there 8r8 Sufficient rèsetves held at the year end lo cr8ale a ￿?SOnable expeclalion thal Nugent h8s adequate resourc85 to continue in oper8lion81 existence far the foresee8ble fuluie ond that it is therefore appropriate to prepare the charity financial statemenls on a going ¢onc8rn basis. INCOME Income is recognis8d in the Statement ol Financial Aclivili85 on¢e th8 charity has 8nli118rn8ntto the funds. il is probable th81 Ihe 5n￿m8 will be receivd, and the 8mount 08n be measured reliably. Donations are accounted for when received. L8gacies are r8cagnised on the earlier ol Ihe dale on which the Charity Is advised by Ihe personal repres8ntalives ol an eslat8 thal payment will be Iransferred, and thè amount involved be quantified with suffScient r81iabilily or wh8n the distribulion is reeelved by the esiale. Wher& legacie5 have been notified lo the charlly or the charity is aw8¥8 01 Ihe granting ol probate, and the criteria for income recognition have not been mel, then the legBGy IS troated as a conlingenl asset and disclosed if malerial. 25 Docuswn Env6￿pe ID.. 5C0948B4-AFDD4DA341259-C773F108606C Nugent Care 2019 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES- CONTINUED INCOME Grants and fees for services and aetivilies 8re a¢¢.ounled for when receivable. Grants subj'ect to performance-rel818d oondilions or terms and oondits'ons oulslda th8 ch8rit5ls eontrol ar& deferred and releasegnised where th8 charily has a present obligation resulting from a past event that will probably result in the transfer of funds lo a third party and tha amount du6 to seltle the obligation can be measured or estirnated reliat)ly. Cr8dilois are norm811y recogllised at Ih8ir settlemenl amount after allowing for any trade discounts due. 27 Docusign ETwelope10.. 5C094884AFDts4DA3-8259-C773FIOB606C Nugent Care 2019 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES-CONTINUEO MULTI-EMPLOYER PENSION SCHEME The chsrity participates in a rnulti-employw defined benefils peThs￿n sch8rn8, the Teachers, Pension Stheme IEngland and Wales) I'the Scheme l. for its le3ching staff. It is nol possibl8 or appropriate lo identify th8 assets and Ilabililies of the Scheme which 8re attributable to the charity. Accordingly, lh8 ch8rily h3s taken adv8nlage of the exemption in FRS 102 and has accounted for its contributions lo the schemo as il il werè 8 defined contribution sch8rn9. The TPS Is an unfunded arrangement backed by the govèrnment. Conlribulions are paid in respect ol benefits earn8cI by members lo dai&. Typically, there ig no18gal or conslrucliv8 obligation lo pay anything further in respect of current or prior sErvice. CRITICALACCOUNTING JUDGEMENTS AND SOURCES OF ESTIMATION UNCERTAINTY In applying the Charity's accounting wliaes, the Truslees are required to m8ke judgements lother than those involving eslimationl Ihat have a significanl ifflpa¢l on the amounts re¢ognis8d and to mak8 slimates and assumptions about the carrying values ol asseis atTrd liabilities thai are not readily apparent frorn other sources. Thes8 85timales and associated ossumplions are b888d on historical experience and olher laclors including expeclallons offUt￿r0 gvenls that are believad lo be reaSOna￿e under the ¢ircurn5tanc88. Aelual results m3y diffor from these eslirnatos. al CritiGal judg8m8nls in applying lh6 Charitys accountingpolici8S Other than the assessment ol going concem, the Trustee5 consider there to be no crilic81 judgements. bl Ksysources of eslimalffon unc8rlainly The annual depreciation chawe for tangible assets 15 sensitive to changes in the 8s1imaled useful economic lives and value in use analyses of the a5S8ts. The useful economic Iiv8s. value in use, nd resulting annual depreci8tion ¢harge are re-a558ssed annually. They ar8 amended when necessary to reflect current eslimales based on ftslure inveslmenls, ulilisation and the physical condition of the assets. In addition, a key source of estimation uncertainly exist5 around the18vel ol provk%iOll arrived at for outslaTrding d6blars and as well as that considered necessary lo s&llle any outstanding legal ¢laims. Z DONATIONS AND LEGACIES 2025 £'ooo 2024 £'ooo Donation5 and gifts Legacies 157 39 164 150 314 Donations and legacies includes restrict6d income of £67k12024.. £nil} 28 Docuslgn Envelopg ID.. 5COg4884-AFDD-40A3-$259-C773F10B606C Nugenl Care 2019 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 3. INCOME FROM CHARITABLE ACTIVITIES 2025 £'ooo 2024 £'OOD Children's, 8dulls' and community servic8S Speci81 schools Residenlial homes and individualised support projects Capital grants iscellaneous 499 2,932 506 3.251 16,160 420 40 16,578 420 44 20,051 20.799 Income from ¢harilable activitles Includ8s r85tricled grant funding of f420k12024." £458kl 4. OTHER TRADING ACTIVITIES Unrestrfcted R88trlcttd £'ooo £'ooo 2025 £'ooo 2024 £'ooo Shop inwrne 10 10 5. INVESTMENT INCOME 2025 £'ooo 2024 £'ooo Dwidends from investments hokl 114 136 6. OTHER INCOME 2025 £'ooo 2024 £'ooo S818 of fixed assets 287 287 29 O0¢u￿gn Envelop8 ID.. SCO948B4.AFDD4DA3-825WC773F10B606C Nugent Care 2019 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 7. RAISING FUNDS RAISING DONATIONS AND LEGACIES 2025 £'ooo 2024 £'ooo Fundraising and publiclly 296 251 OTHER TRADING ACTIVITIES 2025 £'ooo 2024 £'ooo Charity shop expenditure 21 Aggregate amounts 317 328 Expenditure on raising funds Includes no expenditure related to re51ricted funding12024.. £nill Jo Docusign Envelope ID.. 5C094884AFDD-4DA34259-C773F108606C Nugent Care 2019 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 8, CHARITABLE ACTIV￿]Es COSTS 2025 Activitles Support & Undertaken Governan¢9 Directly C08ts £'ooo £'ooo Total 2025 £'ooo Total 2024 £'ooo lil Unrèslricled funds Provision of children's, adults. and communlty Services Special schools Residential horM85 and individualis8d day support projects 828 3.560 44 135 872 3,695 794 3.796 15,827 671 16,498 15,560 20,215 850 21,065 20.150 lill Restrlcted funds Resid8nlial homes and individualised day support projects 14 20,224 850 21,074 20.164 2024 Actlvities Und8rtaken Directly £'ooo Support & Governanc8 Costs £'ooo Total 2024 £'ooo lil Unr8slricied funds Provision of children's, adults. and community services Special schools Residential horn85 and individuali58d day support projects 751 3,672 43 124 7g4 3,796 14,932 628 15.560 19,355 795 20,150 lill Restricted funds Resldential homes and individualised day support projects 14 14 19,369 795 20,164 31 Dowsign Erwelope10'. 5c0948B4AFD￿4DA3￿259.C773FlOB608C Nugent Car¢ 2019 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 8 CHARITABLE ACTIVITIES COSTS Icontlnuedl Support and Governaneè costs Total 2025 £'ooo Total 2024 £'ooo Offic6 servlces and quality assuran Property servi￿$ Finan￿ servic8S Management IT servlces Development Fundraising other recharges 585 37 72 1651 87 17 117 967 42 74 36 67 14 36 771 850 795 Net expenditure for the year In¢ludes=. 2025 £'ooo 2024 £'ooo Fees payable lo Ihe audllor lor Audit Other servl¢es Oepreoialion Operaling lease renta15 28 23 908 146 773 134 9. TRUSTEES REMUNERATION AND BENEFITS No charlly Iwslee received p8ymenl for prolesslonal or other service5 supplied to the charily12024.. None of the Iruslees received or waived any ramunerallon during the year in iespécl of thelr servicès 85 Irustees12024.. £nil). During th8 year the charily held trustees, indernnily insuran￿, Ihe cost ol which 15 included in the cosl of the general Insuran¢e policy. TRUSTEES. EXPENSES The charily Irustees We￿ not paid or reTrived any other bÈnefit5 Iroin employmenl with Ihe charlly,12024.. £nill. No trustees wer8 reimbursed expens8s during the y8ar12024'. £1311 That Coaching Vibe Ltd is a related party as il is controlled by a trustee. Durlng the year an amount ol £19.525 was paid lo the company for professional services12024.. £3.554 FCA Serwces Lldl 32 Docu5vJTr Envtslope ID.. 5C0948B4-AFDO-4DA3-6259I773F10B606C Nugenl Care 2019 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 10. STAFF COSTS 2025 £'ooo 2024 £'ooo Wages and salaries ial security eosis Pension conlribulions 11.544 1.078 607 10,861 1,024 567 13,229 12.452 Staff ¢osls include a holid8y pay accrual of £31 k as al 31 March 2025. The nurnb8r ol ernployees whose emoluments in the year exceeded £60,000 was as follows.. 2025 Number 2024 Number £60,000- £70,(KIO £70.000- £80,000 £80,000- £90,000 £90,000- £100,000 £100,000- £110,(MJO £110,000- £120,000 £120,000- £130,000 £130,000- £140,000 The number of $18ff with emolum8nts over £60,000 accruing retlrement benefits wilhln a defined benefit scheme is 1 12024..11. The number accrulng retir&ment b6nefils within a d81ined ¢ontribulion stheme is 1012024.. 81. The charily paid £68,73412024.. £51,513) in respect of pension contributions on their bohalf. Th8 average number of paid empbyees for the year was 47312024.. 4831. Th9 key m8nag6menl per$onn81 of the charity this year is comprised of the Chief Executive Officer, Director ol Financ8. Director ol People, Dir￿lOr ol Business Developrnenl, Merkeling and Communications, Dlrector ol GOv8rnZn￿, Pertormance and Office of the CEO, Director of Children's Services, Direcior ol Property and Dir&clor of Education. Thé toiaS employee remuneration arid bÈnèfits ol the k6y manag8menl personnel of the charity were £844,58212024.' £449,363). In order lo maintain a quality ¢ar8 s8rvice, the Charity has ulilised extemal aoency staff when op81ational requirements d8mand. The tot81 costs incurred this year I￿ use of such staff have amounted to £1,546.76312024'. £1,575,548). 33 Docusign Envèbpe ID.. 5C094884.AFDD-4DA34259.C773F10B606C Nugent Caré 2019 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 2024 Unrestrlct8d Restylcted Funds Funds £'ooo £'ooo Total Funds £'ooo INCOME AND ENDOWMENTS FROM: Donations and lègacies 314 314 Charftable actlvllies 20.341 458 20.799 Other trading aclimtles 60 60 Investment income 136 136 Olhar Incom 287 287 Total 21,138 458 21,596 EXPENDITURE ON.. Raislng funds 328 328 Charitable activib8S 20,150 14 20,164 Total 20,478 14 20,492 NET INCOMEIIEXPENDITUREI 660 444 1.104 Transfers between funds 286 12861 Net gainslllossesl on inv8slments 440 440 NET MOVEMENT IN FUNDS 1,386 158 1,544 RECONCILIATION OF FUNDS.. Total funds brought foward 12,774 53 12,827 TOTAL FUNDS CARRIED FORWARD 14.160 211 14,371 34 Docusign Envtrbpa ID.. 5C0948B4-AFD￿4D￿3￿2s9-C773F1OB6(￿c Nugent Care 2019 NOTES TO THE FINANCIAL STATEMENTS- Gonlinued FOR THE YEAR ENDED 31 MARCH 2025 12. GOVERNANCE COSTS 2025 £'ooo 2024 £'ooo Provision of children's. adults, and community servlces Spacial schools Residential homes and irKJividualis8d suptK)rt projects 25 107 477 24 118 609 622 13. TANGIBLE FIXED ASSETS Fr¢ahold Bullding Property Adaptallon$ £'ooo £'ooo Motor Vehlcl8S £'ooo Totals £'ooo COST Al 1 April 2024 Additions At 31 March 2025 7.606 147 7,753 13,353 1,174 14.527 31 20,990 1.321 22,311 31 DEPRECIATION Al 1 April 2024 Charge for year At 31 March 2025 4,061 133 4,194 9,453 775 10,228 31 13,545 908 14,453 31 NET BOOK VALUE Al 31 March 2025 2,559 4.299 7.858 At 1 AprK 2024 3,545 3.900 7,445 Included in the Cost of freehold land and buildings is freehold land of £546,000 wh￿h is not depreciated. Cerlain properties were transferred 10 ihe Charity under trust deeds dal8d 8 April 1924 and 15 September 1976. Al 31 March 2025 Ireeliold property and adaplalions relating to those properties are included in tangible fixed 8sseis at a cosl of £4.1m. Thelr market value Is Ilkely to be S￿In￿¢an1￿ different. 35 Docu$￿Th Envèbpe ID.. SC094884.AFDD4DA34259-C773F108606C Nugent Caro 2019 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 14. FIXED ASSET INVESTMENTS Listed Investments £'ooo MARKET VALUE Al 1 April 2024 Acldilion5 Disposals Revaluation 5,637 17101 11531 Al 31 March 2025 5,464 FAIR VALUE Al 31 March 2025 5,464 At 31 hAarch 2024 5,637 The inv8stsrenl portfolio is managed by Rathbones. The value of invÈslmenls hekj 81 Ihe yeaiénd can bo analysed as folbws.. 2025 £'ooo 2024 £'ooo UK equitl8S Ov8rseas equities UK bonds and gills Alternallves UK cash held on deposit 668 3,351 712 598 135 713 3,441 720 556 207 5,464 5.637 15. INVESTMENT PROPERTY 2025 £'ooo 2024 £'ooo Al 1 AprS12024 and 31 March 2025 36 Docusvjn Envelape ID.. 5C0948B4AFDD4DA34259£773F108606C Nugent Care 2019 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 16. DE8TORS- AMOUNTS FALUNG DUE WITHIN ONE YEAR 2025 £'ooo 2024 £'ooo Trade debtors Other d8blors Prepayments and accru8d income 899 23 450 1.259 48 565 1,372 1.872 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 £'ooo 2024 £'ooo Trade creditor5 Taxation and sctial $8curity Other credltors 765 228 819 926 231 824 1,812 1,981 Other creditors include.. A holiday accsual for £31k12024.. £27kl D8f8rr8d InGome at 31 March 2024 Rele88ed in the ye8r Deferred inrome al 31 March 2025 18. SECURED DEBTS Nug8nt has an overctraltfacility ol £0.5m with HSBC and a security arrangement 15 in place ov8rth8 investment portfolio of £5.Sm with underlw'ng investment valu8s not to fall below £2.5m. 19. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2025 Unrestrlcted Re$¢rlcl8d Funds Fund$ £'ooo £'ooo 2025 Total £'ooo 2024 Total £'ooo Fixed assets Investments CuTienl assets 7.858 5,484 993 11.8121 7.858 5,464 1,668 11,8121 7,445 675 3,270 11,9811 Long term liabilities 12,503 675 13.178 14,371 37 Docusyn Envelop810.. sco948B4-AFD￿4DAJ.B25￿773Fl0B6O6c Nugent Care 2019 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 19. ANALYSIS OF NET ASSETS BETWEEN FUNDS - continued 2024 UnrestTlctgd Restrlcted Funds Funds £'ooo £'ooo 2024 Total £'ooo Fixed 8ssets Invesiments Current 355615 Current liabilities Long term liabililies 7,445 5.637 3,059 11,9811 7,445 5,637 3,270 11.9811 211 14.160 211 14,371 20. MOVEMENT IN FUNDS 2025 At 1 Aprll Nèt Mov8ment Tran5fer3 2024 in Funds Between Funds £'ooo £'ooo £'ooo At 31 March 2025 £'ooo UnrestrICt￿ funds General fund Designated- tangible fixed assets Deslgna18d- investments 4,215 {1,4981 {5721 2.145 7,445 2,500 413 173 7,858 2.500 11731 14,160 11,6711 14 12,503 Rèstricted funds Specific Home fund Children's fund Sl Joseph's specifi¢ legacy Other restricted Brighter futures Poverty alleviation Employability Making memories General donations Capital grants 11 17 25 1251 18 191 37 420 18 16 53 551 145 211 478 1141 675 TOTAL FUNDS 14,371 11.1931 13,178 38 o¢usigll Enve1ope10.. 5C0948B4-AFDD-4DA34259-C773F10B606C Nugent Care 2019 NOTES TO THE FINANCIAL STATEMENTS_ continued FOR THE YEAR ENDED 31 MARCH 2025 20. MOVEMENT IN FUNDS-eontinued Net movement in funds included in tha above are as follows.. 2025 IncoTniny resources Resources Gains and Movement èxpended losses In funds £'ooo £'ooo £'oo £'ooo Unrestricted funds General lund Oesignaled- fi'xed assets De5ign8ied- Inv851Thenls 19.884 121.3821 11,4981 11731 11731 11731 11,6711 19,884 121,3821 Re$trl¢ted funds Home fund Reslricted funds Brighter futures Pov8rty allevialh)n Etnployability Making memories General donations Capitsl grants 18 18 191 37 420 478 191 37 420 487 TOTAL FUNDS 20.371 121.391 11731 11,193 FUNDS AND TRANSFERS BETWEEN FUNDS The tangible fixed asset funds represent the amount of reserves neaded to provide the property and equlprtienl for the charity to operate. They equate lo the book value of fixed assets less108n5 used to fund those fixed assets. The invgstsments fund represenls the level of investments on which the bank facilily is secured. The hom8 fund and olher reslricled fund balance5 relate to arnounls raised by individual projects and eslablishrnenls. The balan¢es are restricted, lo be &xpended by Ihe illdwidual homes as and when required. 39 DoGu&ign Envelope ID.. 5C0948B4-AFE104DA3.8259.C773F10B606C Nugent Care 2019 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 20. MOVEMENT IN FLINDS- ¢ontlnuod Comparatlves for movements In funds 2024 At 1 April Net Movement Transfers 2023 in Ftsnds Between Funds £'ooo £'ooo £'ooo At 31 March 2024 £'ooo Llnrestricted funds Gener81 fund Designated- tangible fixed assets Designated- inveslmenls 3,685 660 11301 4,215 6,589 2,500 856 14401 7,445 2.500 440 12.774 1,100 14,160 Restrl¢ted ftsnds Specillc Hom8 fund Children's fund St Joseph's spe¢ifi¢ legacy Other reslri¢led Capital grant5 11 17 19 121 25 421 25 145 10 12861 444 12861 211 TOTAL FUNDS 12,827 1,544 14,371 40 Do(￿S￿Tr Envekpe ID.. SCO￿SB4-AF0o-4DA34259G773F10B608c Nugent Care 2019 NOTES TO THE FINANCIAL STATEMENTS_ continued FOR THE YEAR ENDED 31 MARCH 2025 20. MOVEMENT IN FUNDS- contlnued Comparative net movement in funds, induded In the above are as follows.. 2024 Incoming RÈsour¢as £'ooo Resour¢es Expended £'ooo Galns and Movem8nt Loss8S in Funds £'ooo £'ooo Unrèstricted furtds General fund Designated- fixed assets Designa18d- Investments 21,138 120,4781 440 440 21,138 120,4761 440 1,100 Restricted funds Home fund Reslrict8d funds Caplt81 grants 121 1121 121 25 421 37 421 458 1141 444 TOTAL FUNDS 21,596 120.492 440 1,544 41 Docu9ign Envelope ID.. 5C0948B4-AFDtb40A34259.C773FtOB606C Nugent Care 2019 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 21. PENSION SCHEMES Th8 charity's employees belong to Iwo prinapal p8nsion schemes- the Teachers, Pension Scherne ITPSI, and th8 Avivd Pension Scheme. The total pension cosl for th8 year wa5 £607,112 12024.. £566,829). al Teaehèr8' Pension Scheme The charity parlicipale5 in a n)ulli-employ6r deh'n8d benelit5 pension scheme, Ihe Te8chers' Pension Scheme (England 8nd Wales) I'the Scheme I, lor ils leaching staff. Conlrfbullons on a 'pay as you go. basis are credited lo th8 Exchequsr under arr8ngemenls governed by the Super8nnualion Act 1972. It Is not possible appropri8te to Identify the assets and liabllilles ol the Scheme which are attributable lo Ihe ch8rily. Accordingly, the tharity ha5 taken advantage ol the exemption in FRS 102 and has a￿OUnted for ils contributions to the scheme as if il were a defined contribution schem8. The Teachers, Pension Scheme Is a statutory. contrlbuiory. defined benefit scheme, governed by the Teachers Pgnsion Scheme regulations 2014. Valuatlon of the Tèachers, Pension Scheme The Gov8rnment Aclu8ry, using norrnal 8cluari31 Prin￿p￿S, conducts a lorfnal actuarial review of the TPS in ac¢ordanc6 with the Public Service Penslons IValuatSons and Employer Cost Capl Direcllons 2014 published by HM Treasury every 4 years. The 2Pm of the review 15 to ensure scheme ¢05t5 are re¢ognised and managed appropriately and tha review specifies the leval ol future conlribuiions. Actuarial scheme valuations are dependent on 8ssumptions about lh8 value ol future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 Ma￿h 2020. Thg valuation report was published by the Department for Education on 27 October 2023, Mrith the SCAPE rate, sel by HMT, applying a notion81 investtnent return based on 1.7Qk abovÈ the r3le of CPI. The key elefflenls ol the valuation outcome are.. employerconlribution rates s8t at 28.68% of penSi￿abl8 pay (including a 0.08% adminislration levyl. This is an Inerease of SY. In amploy6r conlribullons and Iha cost control r68uII is sueh that no chang8 in member benefits is needed. total schemo liabilities Ipensions currently in payment and the eslimaled cost of future benefits) lor service Io the eHeclive dale of £262.000 million and notional assets lestimaled future contributions 1096th8rwilh the notional investrrents held at the valu8lK>n d3101 of £222,200 million, givlng a notional past sewice deficit ()f £39.800 million The result of thi5 valuatlon was implemented on l April 2024. The next valuati￿ result is due to be Implemented from 1 April 2027. The Superannuation charge for the year represents total employer contrit)ulions payable to the seheffle of £278k12024,' £217kl. bl Aviva Penslon S¢heme For Slaff not in the (Jefined benefits scheme Ihe charity operates a Stak8holder pension seheme. This is a unil-linked d8fined Contribution scheme from Aviva. Thè total employer contribulions lor the year end were £329k12024.' £350kl. 42 Oowsvan Envelope ID.. SC094884.AFOD.40A342S9_C773F10B606C Nugent Care 2019 NOTES TO THE FINANCIAL STATEMENTS_ continued FOR THE YEAR ENDED 31 MARCH 2025 22. CONTINGENT LIABILITIES Thère were no rnalerial contingent liabilities in 202512024.. £nlll. 23. CAPITAL COMMITMENTS Amounts eontra¢tad for bul not provided in Ihè finanual $tst8ments- 2025 £'ooo 2024 £'ooo Acquisition of tangib￿ 1Sxed ass81s 26,875 24. RELATED PARTY DISCLOSURES Nugenl Care chooses lo be linked with the Roman Catholic Archdiocese of Liverpool alld has th6 incumbent Archbishop serving as Pr85ident. Thi5 Ilnk is a major influence on the ethos. culture and obj8clive5 of lh8 charity. Within this relationship. the Archdiocese has also ¢onveyed properties lor us8 by the charity in providillg residentlal schools and homes. Nugent Car8 controls Nugent Soclal Enlerprises CIC Irbglslered in England and Wales, registèred number 088252821. Nugent Social Enterpris8s was incorporated in 23 December 2013 to owrate The Courtyard Caf8 and training e8nlre with th8 aim of providlng training for young péople nol in èducation. èmploym8nl or training and employment for adults with learning di5abilili8s. 11 began trading in May 2014 8nd ceased trading in May 2017 when Ihe company becam8 dorrnanl. Ils accounls have not b88n consolidaled inlo the financial stalements on Nugent Care on the giounds of immateriality. That Coaching Vibe Ltd is a r¢laled parly as it is controlled by a Iruslee. During the year an amount of £19,525 was pakl to the company for professional sewices12024.' £3.554 FCA Services Ltd) 25. RESIDENTS, MONEY Residents, mney hold at 31 March 2025 tolalled £500,36812024'. £436,940). In a¢¢ordance with the requirements of the Statement of Recommended Practic9. Accounting and Reporting by Charities this amount and the correspondlng tredilor are not in¢luded in these accounts. 26. OPERATING LEASES Land and bulldings £'ooo oth8r £'ooo Totals £'ooo Minimum lease paym8nts due.. Wilhin 1 year Within 2- 5 years In more than 5 years 99 140 28 140 28 267 267 43 Dttusign Enve￿pe ID.. SC0948B4-AFDD.4L)AM259-C773F10B606C Nugent Care 2019 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 27. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 £'ooo 2024 £'ooo Net incomo11oxpendltUfel for the r8POrtlng period las per th* Statement of Flnancial Activities) Adjustments lor.. DeprecSation ¢harges Lossesllgainl on investm8nls Galn on sale of fixed assets Inte￿5t Paid Dlvldends re￿Ived Ilncreaseyd8ereas6 in débtors Inereaselldeer8asel in eredilors 11.1931 1,544 773 14401 12871 173 11141 500 11691 11361 268 426 Net Co$h generated byllused Inl operatlons 105 2,151 28. ANALYSIS OF CHANGES IN NET IOEBTIIFUNDS At 1 ApAI 2024 £'ooo Cash flow £'ooo At 31 March 2025 £'ooo Cash at bank and In hand 1,398 {1,1021 296 29. POST BALANCE SHEET EVENTS Slnee the 31 March 2025 Ihere have been signSficanl av&nls as follows.. al West Lane Sale of land and buildings at Wesl Lane in Formby completed in June 2025 for a lolal value of £8.6m. with £5.5rn being due on completiorTr and a further £3.1m due in June 2026. The nel book value as &131 March 2025 was £0.2m. The monies will largely be maintained wilhin short 10 medium temi inveslmenls, together with a Ir¢35ury faulity lo covar working capital requirèments. ent House School Sale of the business completed in August 2025. Nugenl retains the ￿nd and buildings, which a￿ being leased to lh8 pur¢haser of the business for a p8riod of len years. cl Clumber Lod Nugenl's stra18gy oullines a plan lo close CIuFnber Lodge and transition lo a modern selling suitsble for the slandard5 and size expected of a resid8nliél children's home. 11 has faced persistent ¢hallenges and so the d8cision has been taken for early closure, and Ihe search for 8n alternative modern selling is undetway. tlon Sèrvice$ The service has operated at a deficit in recent years, mirtoring the nalion81 trend of a de¢lining need lor Ihls type of provision, and so a decision has been made lo wind it down. This decision is not taken lightly, il enables Nug&nl lo continue Its objedive to support l£rnilies through other iniliatives as outlined In Nugenl's straleoic plen. 44