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2023-03-31-accounts

Charity number: 1189848

NEDCARE CIO

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

NEDCARE CIO

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 7
Independent examiner's report 8 - 9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12 - 26

NEDCARE CIO

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023

Trustees John Willis, Chair
Anne Porter, Trustee
Paul Mitchell, Trustee
Jennifer Bates, Trustee
Jane Wimberley, Trustee (resigned 14 July 2022)
Jill French, Trustee (appointed 14 July 2022)
Charity registered
number
1189848
Principal office
Moretonhampstead & District Hospital
Ford Street
Moretonhampstead
Devon
TQ13 8LN
Key management
personnel
Simon Tickner, Registered Manager (resigned July 2022)
Lily Danning, Registered Manager (appointed July 2022)
Accountants
Griffin
Chartered Accountants
Courtenay House
Pynes Hill
Exeter
EX2 5AZ

Page 1

NEDCARE CIO

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report together with the financial statements of the Charity for the 1 April 2022 to 31 March 2023.

Objectives and activities

a. Policies and objectives

The objects of the CIO are to carry on activities which benefit the community and in particular (without limitations) to provide day and domiciliary care to people in need of social care services and their relatives and carers in the Northeast Dartmoor area.

To provide reliable, high quality, person-centred homecare for adults in the Northeast Dartmoor area.

NEDCare provides care and support for:

*We support people with a variety of needs, and these can include dementia, sensory impairment and physical disability.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Page 2

NEDCARE CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Objectives and activities (continued)

b. Activities undertaken to achieve objectives

NEDCare support provided is:

Personal Care – Physical assistance given to a person in connection with: Eating or drinking (including the administration of parenteral nutrition). Toileting (including in relation to menstruation); washing or bathing, dressing; oral care, and the care of skin, hair, and nails (with the exception of nail care provided by a chiropodist or podiatrist).

The prompting and supervision of a person to do any of the types of personal care listed above, where that person is unable to make a decision for themselves in relation to performing such an activity without such prompting and supervision. (Health and Social Care Act 2008 (Regulated Activities) Regulations 2014)

Achievements and performance

a. Main achievements of the Charity

b. Factors relevant to achieve objectives

Page 3

NEDCARE CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Financial review

a. Going concern

The Trustees assess whether the use of going concern is appropriate i.e whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the trust to continue as a going concern. In June 2022, the Registered Manager handed in his notice. The charity is CQC registered and without this qualification it cannot provide care services. However we were fortunate to be able to negotiate a new partnership with Karrek Community from Cornwall, who have most generously seconded a Registered Manager to us part-time. This has enabled us to put the operation together again, and to make ourselves stronger in the face of the challenges we face. We are compliant with all regulations, we work efficiently, and our staff team are of a high calibre. There is good morale. In order to make this sustainable, the seconded Manager has been developing a Deputy from among the care staff, who it is planned will step into her shoes as Registered Manager soon.

b. Reserves policy

The trustees' long-term strategy is to seek reserves excluding property to provide financial stability and the means for the development of our principal activities.

As at the year-end, NEDCare has total funds available of £35,331 with £3,842 being restricted and £31,489 being unrestricted.

Incoming resources during the year totalled £299,604 (2022: £389,692) and there was a deficit in the year of £1,440 (2022: £2,967).

Page 4

NEDCARE CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Structure, governance and management

a. Constitution

The name of the Charitable Incorporated Organisation (the “CIO”) is NEDCare CIO.

The charity is governed by its Deed, dated 9th June 2020 and under this deed is constituted as a Charitable Incorporated Organisation (CIO), The trustees meet monthly. The CIO deed stipulates that the trustees shall comprise of at least three trustees.

Powers

The CIO has power to do anything which is calculated to further its objects or is conducive or incidental to doing so. In particular, the CIO’s powers include power to:

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

Page 5

NEDCARE CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Structure, governance and management (continued)

c. Membership of the CIO

Eligibility

Methods of appointment or election of Trust ees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Charity Commission Scheme. The trustees are eligible, in committee, to appoint additional trustees under the terms of the CIO constitution.

In selecting individuals for appointment as trustees, the existing trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

Policies adopted for the induction and training of Trustees

New trustees are selected based on the skills that they have, these must complement the existing board of trustees. They meet with existing trustees and key members of staff to ensure that they feel comfortable with the organisation and happy to become part of the team.

The charity trustees will make available to each new charity trustee, on or before his or her first appointment: a) a copy of the current version of this constitution; and b) a copy of the CIO's Latest Trustees' Annual Report and statement of accounts.

d. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity and are satisfied those systems and procedures are in place to mitigate exposure to the major risks.

Page 6

NEDCARE CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Statement of Trustees' responsibilities

The Trustees 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).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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.

Approved by order of the members of the board of Trustees on and signed on their behalf by:

John Willis

(Chair of Trustees)

Page 7

NEDCARE CIO

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023

Independent examiner's report to the Trustees of NEDCare CIO ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2023.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Page 8

NEDCARE CIO

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: Dated: Laura Waycott FCA

Griffin Chartered Accountants Courtenay House Pynes Hill Exeter EX2 5AZ

Page 9

NEDCARE CIO

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Raising funds
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2023
£
3,842
-
-
3,842
-
-
-
3,842
-
3,842
3,842		 Unrestricted
funds
2023
£
21,620
274,050
92
295,762
-
306,428
306,428
(10,666)
36,771
(10,666)
26,105		 Total
funds
2023
£
25,462
274,050
92
299,604
-
306,428
306,428
(6,824)
36,771
(6,824)
29,947		 Total
funds
2022
£
49,101
340,460
131
389,692
233
392,426
392,659
(2,967)
39,738
(2,967)
36,771

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 12 to 26 form part of these financial statements.

Page 10

NEDCARE CIO

BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2023

2023
Note
£
Fixed assets
Tangible assets
11
2,101
2,101
Current assets
Debtors
12
12,199
15,848
Cash at bank and in hand
54,482
60,474
66,681
76,322
Creditors: amounts falling due within one
year
13
(38,835)
(36,484)
Net current assets
27,846
Total assets less current liabilities
29,947
Creditors: amounts falling due after more
than one year
14
-
Net assets excluding pension asset
29,947
Total net assets
29,947
Charity funds
Restricted funds
15
3,842
Unrestricted funds
15
26,105
Total funds
29,947
The
financial
statements
were
approved
and
authorised
for
issue
by
the
_______and signed on their behalf by:		 2022
£
2,852
2,852
39,838
42,690
(5,919)
36,771
36,771
-
36,771
36,771
Trustees
on

John Willis

(Chair of Trustees)

The notes on pages 12 to 26 form part of these financial statements.

Page 11

NEDCARE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. General information

NEDCare CIO is a Charitable Incorporated Organisation registered in England & Wales. Its registered office address is Moretonhampstead & District Hospital, Ford Street, Moretonhampstead, Newton Abbot, TQ13 8LN.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

NEDCare CIO meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The Trustees assess whether the use of going concern is appropriate i.e whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the trust to continue as a going concern. In June 2022, the Registered Manager handed in his notice. The charity is CQC registered and without this qualification it cannot provide care services. However we were fortunate to be able to negotiate a new partnership with Karrek Community from Cornwall, who have most generously seconded a Registered Manager to us part-time. This has enabled us to put the operation together again, and to make ourselves stronger in the face of the challenges we face. We are compliant with all regulations, we work efficiently, and our staff team are of a high calibre. There is good morale. In order to make this sustainable, the seconded Manager has been developing a Deputy from among the care staff, who it is planned will step into her shoes as Registered Manager soon.

Page 12

NEDCARE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Charity's accounting policies.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

2.4 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 allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Page 13

NEDCARE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.5 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment - 30% reducing balance

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

Page 14

NEDCARE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2. Accounting policies (continued)

2.10 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 15

NEDCARE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

3. Income from donations and legacies

Donations
Grants
Government grants
Donations
Grants
Government grants		 Restricted
funds
2023
Unrestricted
funds
2023
£
£
-
18,707
-
864
3,842
2,049
3,842
21,620
Restricted
funds
2022
Unrestricted
funds
2022
£
£
500
9,889
-
4,599
14,000
20,113
14,500
34,601		 Total
funds
2023
£
18,707
864
5,891
25,462
Total
funds
2022
£
10,389
4,599
34,113
49,101

4. Income from charitable activities

Unrestricted
funds
2023
£
Home-care Services
115,866
Care Connect
158,184
274,050		 Total
funds
2023
£
115,866
158,184
274,050

Page 16

NEDCARE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

4. Income from charitable activities (continued)

Unrestricted
funds
2022
£
Home-care Services
174,730
Care Connect
165,730
340,460
Investment income
Unrestricted
funds
2023
£
Interest recievable on bank deposits
92
Unrestricted
funds
2022
£
Interest recievable on bank deposits
131		 Total
funds
2022
£
174,730
165,730
340,460
Total
funds
2023
£
92
Total
funds
2022
£
131

5. Investment income

Page 17

NEDCARE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

6. Analysis of expenditure on charitable activities

Summary by fund type

Home-care Services
Staff costs
Allocated support costs
Governance costs
Home-care Services
Care Connect
Staff costs
Allocated support costs
Governance costs		 Unrestricted
funds
2023
£
55,142
246,762
901
3,623
306,428
Restricted
funds
2022
Unrestricted
funds
2022
£
£
500
62,474
-
10,651
28,628
286,070
-
1,223
-
2,880
29,128
363,298		 Total
2023
£
55,142
246,762
901
3,623
306,428
Total
2022
£
62,974
10,651
314,698
1,223
2,880
392,426

Page 18

NEDCARE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

7. Analysis of expenditure by activities

Home-care Services
Staff costs
Allocated support costs
Governance costs
Home-care Services
Care Connect
Staff costs
Allocated support costs
Governance costs
8.
Independent examiner's remuneration
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts		 Activities
undertaken
directly
2023
£
55,142
246,762
901
3,623
306,428
Activities
undertaken
directly
2022
£
62,974
10,651
314,698
1,223
2,880
392,426
2023
£
770		 Total
funds
2023
£
55,142
246,762
901
3,623
306,428
Total
funds
2022
£
62,974
10,651
314,698
1,223
2,880
392,426
2022
£
720

Page 19

NEDCARE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9. Staff costs

Wages and salaries
Social security costs
Employers pension contribution		 2023
£
231,379
11,303
4,111
246,793		 2022
£
304,059
13,096
5,628
322,783

The average number of persons employed by the Charity during the year was as follows:

2023 2022
No. No.
18 25

No employee received remuneration amounting to more than £60,000 in either year.

The key management personnel of the charity is a registered manager as listed on page 1. The total amount of key management personnel benefits (including employer pension contributions and employer national insurance contributions) received by key management personnel for their services to the charity was £35,353 (2022: £65,460).

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .

During the year ended 31 March 2023, no Trustee expenses have been incurred (2022 - £NIL) .

Page 20

NEDCARE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

11.
Tangible fixed assets
Cost or valuation
At 1 April 2022
Additions
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022
12.
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2023
£
11,501
-
698
12,199		 Office
equipment
£
4,721
150
4,871
1,869
901
2,770
2,101
2,852
2022
£
15,029
121
698
15,848

Page 21

NEDCARE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13. Creditors: Amounts falling due within one year

Other loans
Trade creditors
Other taxation and social security
Accruals and deferred income		 2023
£
24,065
3,703
3,118
7,949
38,835		 2022
£
30,000
-
4,084
2,400
36,484

14. Creditors: Amounts falling due after more than one year

2023 2022
£ £
Other loans - 5,919

Page 22

NEDCARE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

15. Statement of funds

Statement of funds - current year

Unrestricted funds
Unrestricted funds
Restricted funds
DCF Grant
Total of funds
Statement of funds - prior year
Unrestricted funds
Unrestricted funds
Restricted funds
Care Connect
SSE
Resonance Impact Fund
Donations
Grant
Total of funds		 Balance at 1
April 2022
£
36,771
-
36,771
Balance at
1 April 2021
£
25,110
7,804
607
6,217
-
-
14,628
39,738		 Income
£
295,762
3,842
299,604
Income
£
375,192
-
-
-
500
14,000
14,500
389,692		 Expenditure
£
(306,428)
-
(306,428)
Expenditure
£
(363,531)
(7,804)
(607)
(6,217)
(500)
(14,000)
(29,128)
(392,659)		 Balance at
31 March
2023
£
26,105
3,842
29,947
Balance at
31 March
2022
£
36,771
-
-
-
-
-
-
36,771

Page 23

NEDCARE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

15. Statement of funds (continued)

The specific purposes for which the funds are to be applied are as follows:

Care connect

This restricted fund was made up of grants which are restricted for the development of the Care Connect project.

SSE

School for Social Entrepreneurs- Community Business Trade-Up Programme.

Resonance Impact Fund

Growth Fund Business Support Grant to provide external support required as a result of the Covid Crisis.

Donations

Donation received for the explicit purpose to purchase emergency lifting chairs.

Grants

Last year a grant was provided by Devon County Council for workforce recruitment and retention.

DCF Grant

In 2023 a grant has been provided by Devon Community Foundation for a lifting device cushion and associated project.

16. Summary of funds

Summary of funds - current year

General funds
Restricted funds
Summary of funds - prior year
General funds
Restricted funds		 Balance at 1
April 2022
£
36,771
-
36,771
Balance at
1 April 2021
£
25,110
14,628
39,738		 Income
£
295,762
3,842
299,604
Income
£
375,192
14,500
389,692		 Expenditure
£
(306,428)
-
(306,428)
Expenditure
£
(363,531)
(29,128)
(392,659)		 Balance at
31 March
2023
£
26,105
3,842
29,947
Balance at
31 March
2022
£
36,771
-
36,771

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NEDCARE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

17. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2023
Unrestricted
funds
2023
£
£
-
2,101
3,842
62,839
-
(38,835)
3,842
26,105		 Total
funds
2023
£
2,101
66,681
(38,835)
29,947

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2022
£
2,852
76,322
(36,484)
(5,919)
36,771		 Total
funds
2022
£
2,852
76,322
(36,484)
(5,919)
36,771

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NEDCARE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18. Pension commitments

The Charity operates a defined contribution pension scheme. The assets are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amount to £4,111 (2022 - £5,628). At the balance sheet date there is £NIL (2022 - £NIL) payable to the fund.

19. Related party transactions

The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2023.

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