Charity registration number.. 205695 Susan Day Residential Home Annual Report and Flnancial Statement¥ for +he Year Ended 31 March 2025 WESTCOTTS CHILfiTER6D ACCOUNTANT USIIIÈS5 AQV15EI5
Susan Day Rosidantlal Home Contents (contlnued) Retsrenc8 and Adminlstrativ8 Detai Tnjstees, Report 2to10 Indepond8nt Auditors, Report 11 to14 Statement of Financial Activltles 15 Balanc8 Shaet 16 Cash Flow Ststemtht 17 Note8 to tho Flnanaal Statements 18to28
Susan Day Residontial Homo Reference and Administratlve Details Trustees: J Oonovan M G fhom8S G A Hllb5 A ThomaStaffOrd S D Roles P Jagg8rs E A Cooper M Gaston {appolnled 19 Juty 20241 I I Shaw lappoinled 20 February 2025) Charity Rggi¥5tratlon Numb•r 205695 PrlnelpÈl Offlce South Lodge Runnacleave Road Iwracombe Devon EX34 8AQ Westcotts (SWI LLP Chartgrgd AoLountants 47 Boutporl Street Bamstaple Devon EX31 1SQ Lloyds Bank PIC Bamstaple 17 Cross Street Bamstaple EX31 1BE Audltor Bankor8 Page 1
Susan Day Residential Home Trustees. Report The trustees present the annu81 report together with the finandal statements and auditors, report of the charity for the year ended 31 March 2025. Structure. governan¢• and management Aflministrative detslls The charity 1$ a registered charity number 205695. Its prlnclpal and business address Is South Lodge, Runnacleave Road. Ilfracombe, Devon, EX34 8AQ. Governance and Sntornal corrtrol The Home was eslablished by a Trust Deed dated 31 July 1947. Clause 2 of the Trust Deed wa$ altered by a scheme agreed by the Charity Commission for England and Wa3 on the 23 October 2013. On th8 4 April 2018, the Charity CommlssiDn aged a furthor scheme to alter clause 2 of the Trust Deed whlch has widened the area from which we are abte to take resldents. Its charflable objects. powers and means of govemance are as laid down in its Constitution, which was adopted on 2 September 1998 and revised in May 2018. Trustees are appolnted at the Annual General Meeung held in July eaGh year. Thè trustees meet quartetly (January. April, July and October) lo discuss and re8W the charitys business, It from an operationsl and 8 strategic perspectiva. If ne$Sary additional maatings ar scheduled. The day-to-day operations ar8 m8naged by the Home's Registered Manager Mrs.Donna Miller who reports lo the trustees on a regijlar basis. An induction process is in place for all new trustees. Empkjyees are given continuing training to ensure they are awar8 of all matters relating to the charty including existing rggulations and facillties available lo 888i8t them in rrying out their duties responsibly. Rlsk mltlgatlon The trustees have 8 detailed Flsk Assessment and Miligalion pollcy in place which is revlewed In January each year or at such Ilme n Is fett there has been a change in the perc8ived Ask due to internal ar exlemal events. The percelved dsks are detailed below and have been assessed in accordance vAth the folng grades: Low Llkellhood 11.. Low Llkelihood High Severty of Impact Hlgh Likelihood High Severlty of Impact Low Severfty of Impact 111.. High Likelihood Low Seveiity of Impact Pèmianent or temporary loss ol key staff The Regitrtered Manager is supported by a dp.piity manager and throe fvjll-lime duty managers who rA)ver the daily shrfts and supervise tho C8re assistsn15. In addition, two of the care assistants are fvlly trained to deputise for Ihe duty managers. hAore details are located within the Susan Day Business Conlinully Plan Rlsk Assessment: I Page 2
Susan Day Residentlal Home Trustees. Report (continued) Slruclurgy governance and managom•nt (¢ontinu•d) Decrease In number of rgsldenls wlth Gonsequent r8ductlon In Incom The Home would need to lose seven residents perManenY land not repla them in the shortlmedium term} before being able to cut staff numbers. Such a loss involving say five resldents would have litt18 impact on running costs as the staff numbers would remain the same, but income would be down by £22,250 f5 x £4,450) per month. The home has sufficient cash reserves to sustain such a drop In income bul If prolonged. further resident Ioss8s could brlng tha number to seven or more, leading to the option of staff cuts as referred lo above. Risk Assèssmènt: 11. Serlous dam8ge to the property caused by fire, severe weather et Disast8r plan for residents In place- short term residents would be moved to hotels,. the homes saf8 house Is the Carlton Hotel., longer lemi there would be close Ilaison with CQC and Devon County Council for new short iern temporary or long-lerm pl8MentS of our curr8nt resldents. The home is insured for 811 risks induding coron8vlrus outbreaks and terrorism. Risk assessment 11. Serloug illnoss amongfjt r85id8nts ol •pldwTrlc proportlong Re51dents would b8 confined lo their rooms and vlsllors WOU not be allowed. In the event of a severe epidemlc requSring quarantine. residents would likely be moved lo a hospital or barrier nursed. The CQC would be infomed, and the home would wod( wth Public Health England. Rlsk Assessment: 11. Power outage leadlng to1038 of heac Ilght and ¢iher utllltles The Home has a diesel-fired generator that C9n ruri for 2 days wilhoul purchasing morg diesd. Diesel Can be purchased from local petrol 8tslons and even in the case of snow l flooding we believe addltional supplies could be oblain8d. The home has detslled within ils Business Continuity Plan an autllne of help that can be sourc8d in such extreme weather conditions. The Water Company would be exp8Ct8d to respond to loss of water by uslng bowsers etc. but the loss of the gas supply would affect the availability of healing and hot water, posslbly leading to the need to relocate residents. Rlsk A88e88ment: 11. LOBS of l.T. Gapablllty and phone Mntsct The home cannot operate for more than 24 hours without IT support. Data is b8cked up in Ihg cloud and can be accessed through the managels laptop from any IDcation. Care planning and medication systems are available on iPads. th6 managerfs laptop, and a backup Dats SIM card in case of need. The phone system can be accessed vSa all managers, mobile phone5 and IPads, with an emergency mobSle phon8 available if needed. Rlsk Assessment.. 11. Page 3
Susan Day Residentlal Home Trustees. Report (contlnued) Envlronmentsl rf8k - pollutlon, w)ste h828rd etc. Water pdlution would be dealt wtth by the Water Company. Smoke and drain pollution would requlre specialist attention as would food and dinical waste in the event of industrial action affecting collection. Rlsk Assessment: 11 Accountinglfraud rlsk Insured other than for those instsnces caused by negligenc8. Hon Treasurer has an independent oveNiew of finances and promdes a written report lo Trustses each month highllghung increases and decreases in cash flow. Risk Asses$m•nl- l. Publlc bgneflt When planning its a¢tivi1188 for the year the trustee8 have considered the Charity Commission's guidance on publlc bènefit and the specific guidance as it relatès lo chartties providing similar activities to those of the Home. The Home is prepad to subsidise the lop-up element of the fees for up lo twelve residents who are fvnded by Soci81 SeNios, thus no longer requiring the difference between the amount paid by Social Services and the full fee charged by the Home to be mel by those residents themselves or by members of their familie5. We currently have eight Social service funded residents and the subsidies for Ihtr 81 éndèd 31 March 26 wim ba £31.573. During tha f5n8ncial year ended 31st March 2025 subsidies of £3,938 werè required. The financlal cost of the subsidies is charged to the Home's reserves. structurOJ governance and rnanagemont The Home's activities conunuè lo fall within the overall delnltion of 'charil8bl8 purpose,. hjl resldents enjoy equal benefiL irrespedwe of whether Ihey pay fees or are assessed by Soual Services as having a n88d for resid8ntial cara and a measure of financi818upport. Anyone IlvirwJ in tha catchment area and who Is ellglble by way of need can be considered for a pla at the Home. Fees charged lo re8ldents are determined by the level of care reqijired. The Home is essentially s&lf-funding through fees and paymgnts from Sodal Servlces. It receives little by way of donatlons and legacies are extremely rare. The proceeds of fundraising ave8 go Into an amenities fvnd for the benefit of all resldents. The Home and Ihe residents also benefit from the close involvement of the trustees in the Home's actlvities. The Boar<1 of Trustees. all of whom are volunteers, Gomprises individuals who bring a broad r8nge of professional skills to the Home and provlde their services without any form of payment. ObjeGlives and actlvltles Charhable objects The charity's objerls Arp. defined In the goveming document as=. The establi8hment and maintenan¢8 of a residential home for elderly in ne8d in the areas of Ilfrarnmbe. Braunlon, Bamstaple and the surroundlng districts, provlded preference is given to those residing in the former Urban Distrid of IlfraGombe. Page 4
Susan Day Residential Home Tru5t8es' Report (continued) Tho Homo The Home Is a non-profit maklng organisallon and use$ any surplus funds for the benefit of the residents. Details of Ihesg are 8hoNm in the financial statements and supporting notes. The Home is regularfy inspected by the Heajth and Safety Officer, the Fire Offlcef and thè Care Quallty Commlsslon ICQCI. Their reports continue to reflect the hlgh stsndards provided and the work of dedlcated officers and staff. Th? resldents The Home lost 10 residents durfng the year 7 died In the home, 2 died in hospital and 1 moved to altem8tive accommodation. Mlhough most of our Tesidents, end-of-life plans ask that they end their day3 in the Home thi5 15 not aK¥ays possible. During the period 1 st April lo the 30 June 2025, we have lost a lurther 3 residents. Two died in the home and the other died in hospital. During the year therè was 9710 ocujpancy. which equatss lo one empty bed each week, The budget s prepared on the assumption of tsvo empty beds. In the past it has been hard to flll bed5 bul the management team have worked hard in promoting the home. Ttrtrough POSidVr POStS Oil our OP811 Facebook page, word of mouth and d8veloplng a strong relationship with local sodal care assessors, the home has been operatlng dose to full occupancy durfng the last 2 ffinancial years. Eight residents 8r8 curr8ntly funded by Social Services. In the year to 31 March 202S. thgrg was a shortfall In fundlng of £3,938 whlch was covgred by transfer from reserves. In several cases, we have been unable to meet the needs of social serviix referrals due to nursing or speryallsed dementia care being required. The homo is always giving residents a choice of aclivllies that motivate them. and that offer th8 chancè to learn new skills and increase independence. which helps people to 8tay well and feel satisfied wth life. Meaningful, p8rst)n-cenlered 8clivilies are built around our residents, this then ensures engagemenL stlmulalion and benefits to their mental and physlcal health. There Is a comprehensive actiwties programme for resld8nts whlch Includes exercise and mlnd actlvllles tsllored to group or individual needs. The home faalitates a health and wellbeing group twice a week. This group promdes a range of acliviues deslgned to promote healthy living, induding heatthy snacks. exerdse Sessions. and Zurnba classes. Participants can engage in various aGtivi118S that support their phy3ical and mental wellbeing, fostering a community oriented towards healthier lrfestoes. The halr and b88uty sabn conllnues to be very popular with the residents. We WOTk dosely with th8 Ilfracombe community minibus service who provide the home with transport for fortnSghUy trips out Into the community, where we will vlsit areas meanlngful to the residents. Our residents WDrk closely wth the management t&am and activlues coordinator in planning advitles and 18 8 regular discussion item at residents, meetings. In the main hallway of Ihe home we have a weekly aGlivities planner. minutes of the residents, meetings and other items of interest. Residents. families have access to a private Facebook page which highlights th8 various activities which also indude visiting entertainers and themed btrffets nights. Residgnts, families are encouraged tl) join our bi-monthly residents, meelings. Page 5
Susan Day Rft5idential Home Trustees, Report {contlnued} The Resldents {contlnugdl A comprehensive pre-admlsslon procedure is In place for resldents which includes a ¢Jetailed (3re p18n which identthe5 indivldual needs. The Manager and Deputy Manager are fully commltted and focused on the meet and greet of new residents to reassu. rèlax and put any fears bèhind them as this can bo a very difficult transition. The care plans are contSnually updated and revlewed monthty or earfier if health needs change. Holy Communion Is held on thè flrst Tuesday of each month and Is well attended by residents. The C8re home fosters a strong rel81ionshlp wth lor*l vic3rs, who are readily avaSlable to resldenls. espeually during their endwof41fe caTe. This connectlon ensures that residents recelve 3piritual support and companionship at limes when il matteTS most, helping to provlde a sense of peace and community. On the 1 st July 2025 our residen15 were split 26 ladies and 5 ggntlomen with our youngest residont being 80 and our oldest resident 99. The average age of our residents is 86 y8ars. Achlgvgmgnts and pèrformance The staff The staff have embraced the changes whlch have been Implemented and are performing their duties effeciively. Stafflng levels have been malntslned and hove been inv81uable not only for the care that our residents receive, but a180 for the staff and thelr well-being and abllfty to be able to provlde a quality service. Susan Day ha8 IntrtsdUd a Health and Well-being support group for staff. This involves mental health support. advice and guidance, health and fitness advlce, healthy snacks, fresh Gold water and fitness groups. Fosterlng èmployee wellbeing 13 good for people and the organisation. Promoting wellbeing can help prevont stress and creat9 Positive working envbronm8nts. Non managerial staff are paid a minimum of £12.45 per hour {effective 1 sl April 20251 whlch eXed5 the national liwng wage of £12.21. This ¢onUnues to assisl the home In belng able to fill job vacancies. We have an ongoing tralning program for all staff members to enhance their skills and knowledge. Recently, wg upgraded to a new online training provider. which offers unlimited access to a broader range of courses. Thi5 improvement allows us to deliver Iralning that is more person-cenlered and better lallored to meet the health need5 of our residents. We have trained our management team as in-house trainers for mandatory CQUTses. This strategy not only ensures that our home operates safe and effectlvely bul also pl8yE a cruclal role in the process for new staff, ensuring that all mandatory treining is completed during the Induction process. All members of the management team, induding sonior care assistants, are trained to assessor level In medication admlnistralion. This comprehensive tra1ning not only &nhances the safety of the medScatlon process but also enables more effèctive sharlng nf knnwlp.dge. across the entire re team. By equlpplng our staff the necessary skills and understsnding. we aim to improv8 the qualty of cara providad to our residents, ensuring a 8af8r and more informed approach to m8dication management. Page 6
Susan Day Residentlal Home Trustees. Report (continued) Tho staff (contlnu•dl The home provides new staff with the opportunlty to complete Ihelr NVQ qualiflcations after their prob8t6on perlod. Currently, one stsff member is pursulng NVQ Level 5. We encourage all staff lo enh8nC8 thetr 8kills. There are rK)w flve tralned senior care 8S818tonts, fv of w170m are qualified 85 duty managers. Slnce May 2023, the home has Implemented several Champion Courses. Including Medication, Oral Hygiene, S8f9guarding Adults al Risk, Infedion Control. End of kn'fe, Fire Safoty. Dignity, and Nutrition & Hydrallon. Champions are committed to providing highquality care and ensuring standards are met within the home. Thoy are responsible for IdentIfn9 g8ps and inefficierbcies In operaOnS and should feel confident to voice their ideas. All Champions will meet quarterly lo dlscuss any concams in thelr areas. The Nutrtllon and Hydration, and Infection Champions wlll conduct monlhly dining experfence audlts. Nlne of our staff are members of a stakèholder pension scheme held %AAth Reas8ure to thich the hom8 is contributing 3% of salary per annum and each mamber of staff a minimum of 4%. A further Ihlty-four members of staff are enrolled Iii a pension scheme held wSth NEST where th8 home is contributing 3°k pgr annum and oath member of staff a minimum of 5%. Inspections Devon and Comwall Fire Rescu8 undèrt¢)ok an inspection in October 2022, and they have been contacted in June to request an up-to-date inspectlon. On the last Inspection the home was compliant In all areas, atthough the inspectlon highlighted several securfty recornmendalion$, whlch have all been addressed. Our fire sk assessment is r8vlewed every 6 months, and a new fire risk assessment was completed in Novernber 2024. The Home has regular environmental health kitchen inspectlons and Is rated 5 stsrs. The home has an audklng sy8tem in place on our Cero Control system, covering all argas from cleaning schedules. gardens & maintenance to residents dining experience. Our latest Care Quality Commission inspection was in February 2019 with the home receiwng an overall rating of good. A number of remote assessments have been carried out since, the last of which was in July 2023. On infomialion availabl8 to CQC no eviden was found lo suggest that CQC need to C8rry out a further inspection or reassess their rating. The home has recenuy thanged the way the Trustees undertaken thelr Rule 26 audit. Thls ha$ now become tailored around the CQC five Qualty Stalemenls. Over the year all five areas wlll be covered by the Tnjstees, and this will help to ensure that the home Is Gompliant In all areas. Developments Repairs and renewaL8. malntenance and gardening are ongoing. and gXP8ndilure totalled £93,144 12024 £84,257) durlng the year agalnsl 8 budget of £78,500. Further impTovements and upgrading wlll be achieved wf(hin the annual budget in future years 8nd we will wntinue to replace essential equipment and purcthase nursing beds and holsls as needed. During the year the exterior of the home has been r8paintsd and an extensive refurbishment of one of the bathrooms undertaken. We feel that our hom8 has a friendly, homety atmosphere and is maintain8d to a high standard with all the relevant Inspections and rna1ntenan checks belng undertaken in a timely manner. Page 7
Susan Day Residential Home Trustees. Report (continued) Flnanclal revlow Annual outturn The Charill8 nel Income for the year was £94,951 12024 incoming £46,507). Details of th8 flnandal outtum are Shown on below and in the notes to the accounts on pages 15 to 28. The main variances in income and expenditur8 were: . Resident's fees £1,481,980 agaln8t budgeted £1,370.836 a positive varfance of £111,124. This is due to the aver8ge fee IncTeasing by 4.94% trom £878.45 in Aprll 2024 to £921.87 in February 2025 and a high level of Dccupancy with an average of one empty bed for the 12.month period whilst the budgel is prepared on the assumption of empty bed&. Staff costs £1,062,436 agalnst budgeted £1,002.000 varlance + £60,43fj due to sickness lev8ls b8ing higher than 8xpeGt8d, training of new staff and additsonal hours for stsff due to th8 inc¥eased levels of dependency amongst residents, Ropalr8 maSnt8nanca •nd gord•nlng £93,144 against budgeted £78,500 varlan¢e +£14,644. Pkas8 see comments under developments. Provlslons £83,637 against budgeted £80,000 variance + £3,637 which r8flects continuing pressure on food costs. Gas £18,766 ag•lnst budgeted £26.000 variance - £7,234. A 5-year flxed contract commenced in August 2021and whilst there was an uplrft to reflect the increase in wholesale prices it has protected s and will protect us going foNard from further increases untll 311812026. Electrlclty £18.913 against budgeted £18,000 varlance +£913. A new &year fixed contract commenced in March 2024 wth an inc8#e in price however we do have the benefit of a new fixed rate through lo the 311312027 and there was nearfy sufficient headroom In the budget to cover the hlgher rate. Rèserves The Balance Sheet al 31 March 2025 shows unrestricted reserve funds of £877,628 {2024.'£782.6771. This figure is represented by £371,673 In a designated Propety Reserv8 {compriseé of the book Value of thè residential home property), £8,636 in a deslgnated Amenities ReseN8 (representing funds held to provide amenlles to the residents during the following tsvelve months and beyond). £250.000 in a contingency fund and £247.319 in the unrestricted general fund. The contingency fund is to be used for any unforeseen emergencies which may arise, mainly in respect of income, staffing Costs or premi$gs costs. The trustees consider this gLX)d 9ovemance, espeaalty wth regar(1 to the needs of the charitls resident benefiaaries. The purpose of the unrestrlcled general reserve fund1280k of total reserves) is to provide for material ¢apltal axp8ndlture on the proparty, any unfore8èen dedino in incom8 or material increase in ¢)per8ting costs and the subsidies funded from th8 Gen8r81 Reserve ty way of transfer to cover the top up5 as described in the Pubiic Benefit section above. Page 8
Susan Day Residential Home Trustees. Report (continued) Fixod A55•ts The trustees, policy 18 to capllallse Items costing more than £SO,000. Other items aro regarded ay rev8nue gxpenditure and are direct charitable expenditure on the SOF Financial management The trustees rewew up to dale fin8nci81 d8ta at each of thelr quartedy meetlngs when they consider all items of material operational costs whlch have been incurred as well as proposed capit81 expendiiure. There is an annual budget meeting al whlch the trustees agree on iDGome and exp8nditure forecasts for the coming year. The financial year beginning 1 April 2026 has commenced on a strong note, with income exceeding the budget by £17.407 at the concluslon of the first quarter. Fundlng The principal funding source is income from the residents and from Soci81 Services in those instance_s where residents are unable lo pay for themselv85. In addition, the Home receives interest on its cash deposits and occasional donations and legacies. Plans for future ppriods One of the Trustees, key obsecttves Is lo ma5ntsln the Homo to a high standard for the residents to enjoy and therefore lurther Investment will be made as required. statement of Trustg9$' Rgspon¥ibilftie$ The trustèes are responsible for preparing the trustees, report and the financial statements in accordance wlth the Unlted Kingdom Accounting Slandards (United Klngdom Generally Accepted Accountlng Practice) and appllcable law and regulations. The law apjicable lo charitl8s requires the trustees to prepare finanoal statements for gach financial ygar which give e true and fair view of the 8t8te of affair$ of the charity and of the in¢oming resources and application of resour8 of the charity for that period. In preparing th958 financial ststements, th8 trustees are required to- select suhable acGounllng pollcies and then apply them consS8tently; observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and pru(lent', state whether applicable accounting standards have been followed. subject lo any material departures dlsclosed and explalne(I In the flnanclal statements-, ar prepare the financlal statements on the golng concern basis unless it Is inapproprfate to presume that the charity wll continug business. The trustees are responsible for keeping proper accounting records that disclose th reasonable accuracy al any time th8 finanaal po8ltion of the charity and enable thern lo ensurè that the financial statements comply with the Charities Act 2011. the Charitiès (Accounts 8nd Reports) Regulations 2008, and the provislons of the consutullon. The trustees are also résponsible for safeguarding the assets of the charity and hence for tsklng reasonable steps for the prevention and detedon of fraud and other irregularities. The trustees are responsible for the maintenance and inlogrity of the corporate and financial inforrnalon Included on the charitable eompanls w6bsrie. Legislation governing the preparation and disseminalion of financial statements may differ from legislation in otherlurfsdictions. Page 9
Susan Day Residgntlal Home Trustees. Report (continued) l)isclosure of Informatlon to auditor Each trustee has taken steps that they ought lo have tsken as a trustee in order to make themselves aware of any relevant audit information and to establish that the chartty'8 auditor is awaTe of that InformaOn. Th8 trustoes con)Imi th81 therg is no relevant infomiation that they know of and of whlch they know th8 auditor Is unaware. and signed on its behalf by. M G Thomas Trustee Page 10
Susan Day Residential Home Independent Auditor's Report to the Members of Susan Day Residential Horne Oplnlon We have audited the finanGial statements of Susan Day Residential Home (the 'charity'} for the year ended 31 March 2025, whith Comp8 tha Statèm1 of Financial Activities, Balance Sheat. Cash Flow Statement. and Notes to the Finanaal Slalem8nls, including a summary of significant accounting policies. The finanaal reporting framework that has been applled In Ihoir preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and appliGable law Iunited Klngdom G8neralty Accepted Accounting Practice). In our opinion the financial ststements.. gwe a true and fair view of the 518te of the charity's affairs as at 31 March 2025 and of its incoming resources and applicatlon of resources, Includlng Its Income and expenditure, for th8 year then ended., have been properfy prepared in accordance Trmth Unff(ed Kingdom Gonerally Accepted Accounting Practice,. and have been prepared In ac¢ordJnce wtth the requlrementg of tha Charfties Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UKI IISAS IUKII and applicable law. Our responsibilities under those standards are further descrfbed in the auditor responslbilities for the audit of the financi21 statements secllon of our report. We are independent of the charity in accordance wth the ethical requirements that are relevant lo our audlt of the financial ststemenls in the UK, including the FRC'S Ethical Standard, and we have fuffilled our other ethical responsibilities in accordance with these requirements. We believe that the audh gvldence we hav9 obtained 15 sufficient and apprDpriate to PTOVitle a basis for our opinion. Cancluslons relatlng to golng concern In auditing the financial stat8m8nts, we hav8 condud8d that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. B8s8d on the work we have performed, we have not identified any material Ltncertainlles relating to events or conditions that. individually or (yjllectively, may e881 significant doubt on the Gharity's ability lo continue as a going concem for 8 period of al least twelve months from when the orlglnal financial statements were authorised for issue. Our responsibilities and the re8pon8iblliUes of the tnJ8tees with respeGt to going concern are desGribed in the relevant seGtions of this reporL Other information The Iruslees ar8 responsible for the other information. Th8 other inforrnalion compri88s the Informatlon Included in the annual report, other than the finanual ststemenl8 and our auditorfs report thereon. Our opinion on the financial ststemenls does not Gover the other Infornaon and. except to the extent olheM15e explirAly stated In our report, we do not express any form of assurance conclusion thereon. Page 11
Susan Day Residential Home Independent Audltor's Report to the Members of Susan Day Resldontlal Homo (continued) In connedion our audlt of the finanoal statements, our rasponsibility Is lo read the other inform8tion and, in doing so. consider whether the other infonnation is materialty inconslstent with the ffnanclal slatemerrts or our knowledge obtalned In the audlt or otheN(se appear5 lo be materlalty mlsstaled. If we identify such materi81 inconslstenctes or apparent materfal mi5ststement$, wg are required to determlne whether there 65 a malerfal misststement In the ffnancial statements or material misstalemenl of the other Infornialion. If, based on the wort we have perfomed, we conclude that there 15 a material misstatement of this other Inform8taon, we are required to report th8t fact. We have nothing to report in this regard. Mattsrs on which we aro roqulred to report by teptIon In the light of our knowledge and understanding of th8 charity and its environment obtained in the course of the audlt, we have not identffied materfal mlsstatements in the TN8lees' Report. We have nothing to report In speCt of the fdlowing matters where the Charities (Accounts and Report) Ragulatlons 2008 requires us to report to you if. In our opinion: adequate accounting rgcoTds have not been kept, or returns adequate for our audlt have not been reoeivod from branches not visited by us.. or the finandal statements 8re not in agreement wlth the accounting ree4)rds and retums,. or cert8in disclosures of trustees romuneration speclfled by law ar8 not made., or we hav8 not received all the informotion 8nd explan811ons we require for our audit. Responsibilitios of tru$to9$ As explalned more fully in the St81ement of Trustees, Responsibilllles (set out on page 91. the trustees 8Te responsible for the preparation Df the financi81 statements and for b&ng satisfied that they give true and fair view, and for such internal control as the trustees delemilne Is necessary lo enable the pr8paratson of financi81 slatem9nts that arg free from material misslatsmgnl, whether due to fraud or error. In preparing the financial ststements, the trustees are responsible for assessing the charills 8bilily lo contlnue as a going concern. disclosing, as 8pplicabl8, matters related to going concern and u51ng the going concem basis of accounting unless the InJstees either intend lo liquidate the charity or lo cease operations, have no realistlc attgmats've but lo do so. Audltor Rasponslbllltlos for the audlt of the flnanclal stst•ments Our obj6ctiv8s ar8 to obtaln reasonabla assurancè about whalher the financial statemènts as B whola are free from material misstatement. whether due lo fraud or error. and lo issue an auditorfs report that includes our opinion. Reasonable assurance is a hlgh level of 8ssurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will aNvays delect a materlal misstatement when it exists. Misstatements can arise from fraud or emr and arg considered material if, individually or in the aggregate, they could reasonably be expected to influence the economlc decisions of usors taken on the basis of thesé financial statem6nts. Irr8gul8ritl8s, including fraud, are instances of non-o)mpliance with laws and regulations. W8 design procedures in line with our responsibilltSè8. outlined above, to detact material misstat&m8nts In rÈspect of irregularihes, including fraud. The 8Xtent to which our proG8dures are capable of detecting iglarities. induding fraud is detsiled bel¢)W: Page 12
Susan Day Residential Home Independent Auditor's Report to the Members of Susan Day Resldential Home (Gontlnuod) Wg identified areas or law8 and regulations that could reasonably be expected to have a material eff8cI on the financial stalgments from our gen8ral commercial and sector experience and through discusglon wth the trustaas and other management and from inspectlon of th8 charitys regulat¢)ry corr8spond8nce. We communIted id8ntkfied laws and regulations throughout our tgam. and remalned alert lo any indicallons of non<ompliance throughout the audit. The charity is subjed to laws and regulations th* govern the pparatiOn of Ihe financial statements, Including financial reporting legislation, #nd other charity leglslation. Thè charity18 also subjoct lo many other laws and regulations wher8 the consequences of non-complianc¢ Gould have a material impact on Ihg amounts or disdosures within the financial statements, including employment, anli-bribery, antkmoney L9undering and certain aspects of charity legislatlon. Owing to the inhBrent limitations of an audit. there 15 an unavoidable risk that we may not have detected some material mlsstatements in the financial statements, even though wè have propedy planned and perfomied our audlt in accordance auditing standards. In any audit. there remains a higher rfsk of non-detection of irregularities, as these may involve collusion, forgery. intentional omissions. rn,srepresentations, Oi Ihv ovethde of internal u)ntrols. We aro nvi responsSble for preventing non-complian and cannot be expected to delect non-compliance th all laws and regulations. As part of an audit in accordance with ISAS IUKI, we exercise professional judgement and maintsin professional scopticism throughout the audit. We also.. Identfy and assess the risks of material m188tstement of the finandal ststsments, whether due to fraud or error, d8sign and perform audit procedures responsive lo those risks. and obtain audit evidence that is sufflclenl and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one re8ulling from error. as fraud may Invo& collusion, forgery, intentional omi5sl¢)ns. misrepresentations. or the override of internal control. Obiain an understanding of Internal control r818vant to the audit in order to design audit procedures that gr8 appropriate in the cirGumstsnces, but not for the purpose of expressing an oplnlon on the effoctiven8ss of the charity's intemal control. Evalu8te the appropriateness of accounting policies us8d and the rea80n8bleness of acwunling estimates and related d18cIosuT8S made by the trustèes. Conclude on the appropThateness of the trustees use of the going concem basis of accounting and, based on the audit ewdence oblaineé. whether 8 material uncertainty exists related lo events or nditions th31 may cast signlficant doubt on the charity's ability to continue as a going concern. If we condude that a m81erial uncertainly exists, w8 arg required to draw attention in our auditorf5 report lo the related dlsclosures in the financial statements or, if such disclosures are inadequate, to m¢)dify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorfs report. However. future events or conditions may cause the ¢harity lo cease to continue as a going concem. Evaluate the overall presentation, structure and content of the financial statements. indudlng the disclosures, and whether the finanThal $laternen15 reprasenl the underlying transaction8 an events in a manner that a¢higve8 fair presentation. Obtain sufficiént approprlatè audlt evidenco regardln9 the llnandal informatlon of thè enlitiès or busines8 activitses wlhin the charity to express an opinion on the financial slatgmenls. We 8r8 responsible for the direction. supervislon and perfomiance of the charlty audll. We remain solely responsible for our audit opinion. We communicate with those charged wllh govemance reg8rdlng, among other matters, the planned scope and IiTning of the audit and significant audit findings, including any significant deficiencies i Internal conlrol that we identify durtng o¢Jr audlt. Page 13
Susan Day Residential Home Independent Audltor's Report to the Members of Susan Day Residential Homo (Gontlnued) Use of our report Thi8 report is made solety to the ch8rlty *rust8es, as a body, in accordance whh sectlon 144 of the Charlties Act 2011 and règulations mada under section 154 of that Act. Our audlt work has begn undertakèn so that we might state lo the tnjstees those matters we are required lo State to trustees In an audltors, report and for no otrter purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustèes as a body, for our audit work, for this report, or for the opinions we have formed. iivestcotts ISWV) LLP Chartered AccoiJnt8nls & StatLrtory Auditors 47 Boulport Street Bamstsplè Devon EX31 1SQ Page 14
Susan Day Residential Home Statement of Financial Actlvltles for the Year Ended 31 March 2025 Unrestrictad funds Total 2025 Total 2024 Note Income and Endowmgnts fn)m". Donations end legaaes Charitable activities Investment income other income 3,244 1.481,960 10.866 1,799 3,244 1.481,960 10,866 1,799 6,903 1,291.719 2,328 1,892 Totsl income 1.497,869 1,497,869 1,302,842 Expenditure on: Charltable 8cUvities 11,2102,918 1,402.918 11,256,335) Total eyp8ndlture Net income 11,402,918 1,402,918 1,256,335 94.951 94,951 46,507 Net movement In fijnds 94.951 94,951 46,507 Reconclllatlon of funds Totsl funds brcmjghl fOard 782,67T 782,677 736,170 Total funds ¢arried forward 18 877,628 877,628 782,677 All of thg ¢harty'$ a¢tfvrtle$ derlve from continuing opgrations during the above tsvo periods. The fvnds breakdown for 20241s shown In note 18. The notss on pag89 18 to 28 forni an integral part of thèse flnancial statemenls. Page 15
Susan Day Residentlal Home (Registration number: 205695) Balance Sheet as at 31 March 2025 2025 2024 Note Flxed asset8 Tangibl8 assets 13 371,673 376,843 Curr•nt A•t$ Stocks Debtors Cash al bank and In hand 14 15 4,319 10,683 548.054 3,677 17,657 404,405 563.056 425,739 Credhors: thounts falllng du• wlthln one year N•t cuTr•nt a88•ts 16 57,101 (19.gD5 5Q5,955 405,834 Net Sets 877,628 782.677 Fund8 of the charlty: Unrestrlcted Income fund6 Unrestricted funds 877,628 782.677 Total funds 18 877,628 782,677 The firnqncial statements on pages 15 to 28 were approved by the trustees. and authorfsed for issue on and signed on Ihgir behalf by. M G Thom8S Trustee Thg notes on pages 18 to 28 fomi an Integral port of the8e flnandal statements. Page 16
Susan Day Residential Home Cash Flow Statement for the Year Ended 31 March 2025 2025 2024 Noto Cash flows from operatlng acllvltles Net cash income 94,951 46,507 Adjustm•nts to cash flows from non4ash Items DeprecSation Investment Income 5,170 110,866) 89,255 5.170 12.328) 49,349 Worklng capltal adjustments Incrgase in stocks Decrease in debtors Increaselldecreasel in creditors Net cash flows frcffi operaling activities Cash flows from Investlng actlvltles Interest roc8iv8bl8 and similar incomg 14 15 16 16421 6,974 37,196 11.142) 3,123 110,9861 132,783 40,344 10,866 2,328 Nel increase In cash and Gash equlvalents 143.649 42,672 Cash and c8sh equlvalents at 1 April 404,405 361,733 Cash and cash equivalents at 31 March 548.054 404,405 All of the cash flows are derived from continuing operations during the abov& two peric8. The note8 on pages 18 to 28 form an Integr81 part of these flnan¢ial Statements. Page 17
Susan Day Resid•ntlal Home Notes to the Financial Statements for the Year Ended 31 March 2025 1 cOUntIng policies Statement of compllance The Tinancial statements have been prepared in accordan with the second edition of the Charitie5 Slatemenl of Recommended practi issued in October 2019, the Flnancial Reporting Stsndard applicable in the United Kingdom and RepubliG of Ireland IFRS 1021 and the Charities Act 2011. Basis of preparation Susan Day Residential Home meets the definition of a public benefit entity under FRS 102. The accounts (financial ststements) have been prepared under the historical cost convention wtth item$ recognised al cost or transaction value unless otherwise stated in the relevant nolelsl lo those accounts. The financial statem8nls have been prepared in sterfing which is the functional c#Jrrency of the charity. Going nCern The trustees consider that there are no material uncertaintigs about the ch8riVs abllity tD continue as a going concem. Income and endowments Voluntary income including donations, gifts, legacies and grants that provldè core funding or are of a general nature is recognised when the charity has enlltlement to the income. It Is probable that the Income wll be roceived and the amount can be measured wth sufficient rellabllity. Donations andlggacles Donations and legacies are reoogni3ed on a receiyeble bgw8 when receipt 18 probable ond the amount can b8 reliably measured. Investment Income DSvldends are recognised once the dimdend has been declared and notifi¢ation has been recewed of the dividend due. Expenditure Al expendituro is recognised once there is a legal or constructive obligation to that expendlture, It is probablè settlernent Is requ1T8d and the amount can be measur8d reliably. All Gosts arg ollocated to the applicable expenditure headlng that aggregate similar costs lo that category. Where costs cannot be diredy attributed to particular headlngs they have been allocated on a basis conslstent wlth the use of resources. with centr81 stsff c081s allwaled on the basis of tlme spent. and depreciation tharges allocated ¢)n the porbon of the asset's use. Other support costs are allocated based on the Spread of st8ff costs. Charltsbl• actlvltlès Charitabl& expenditure comprises those costs incurred by the charity in the delivery of hs actIvIe$ and servi$ for Its beneficiaries. It includes both costs that can be allocated direcuy to such activieS and those costs of an indirect nature necessary lo support them. Pag8 18
Susan Day Residential Home Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) Taxatlon The chartty is considered to pass the tssts set out in Paragraph I Schedule 6 of the Finance Act 20to and therefore it meets the definltion of a chadtsble company for UK corporation tax purposes. Accordingly, the chartly Is polenllally exempt from taxation In respect of income or capltsl gains roceived within categories covèred by Chapter 3 Part 11 of the Corporauon Tax Act 2010 or Sectlon 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such Income or gains are applied exdusively to charitsble purposes. Tangible fixed aBset8 Indlvldual fixed assets costing £50.000 or more are inlli8lly cOrded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreclatlon and amortlsatlon Depreuation is provided on tangible fixed assets so as to wrfte off the wst or valuaUon, less any estimated SIdUal value, over their expected useful economic life as follow8.. Assot Glass Land and Buildings Depreclatlon m•thod and rnte Straight line over one hundred years 15Yo Straight lin8 wlth 8 full years charge In the year of acquisltlon Fumllure and equlpment Impalrment of flxed assets A rèvlew for indicators of impairment is carried out at èach reportlng d8te, with the recoverable amount being estimated where such indicators exist. Where the GarTring value exceeds the recoverable amount, the asset is impaired accordin9ty. Prfor Impaimients are also reviewed for possible rovgrsal at each reporting date. For the purposes of impairment testing, when it is not posslble lo e8mate Ihe recoverable amount of an indlvldual asset, an estlmate Is made of the recov&rable amount of the cash-generaung unit lo whlch the asset belongs. The cash%ener81ing unfjt Is the smallest Identifiable group of assets that Includes the asset and generates cash Inflows that largely Independent of th8 cash Inflows from other 88sets or group of assets. For impairment testing of goodwill. the goodwill acquired in a business cDmbin8tion is, from the acquisition date. allocated to èach of the cash-gener8ting unrts that are expected to benefit from the synergies of the combination, irrespective of whether other assets Dr liabilities of th8 charity are assigned lo thosè unlls. stock Stock is valued al the lower of cost and estimated selling price less costs to complete and sell, after due regard for ob501ele and slow moving stocks. Cost is deterniined using the first-in, first-out (FIFO). Cash and cash equlvalonts Cash and cash equivalents comprise cash on hand and call deposits, and other short-tem highly liquid investments that are readily oonvortible lo a known amount of (ash and are subject to an insignfflcant risk of change in value. Pag8 19
Susan Day Residential Home Notes to the Flnancial Statements for the Year Ended 31 March 2025 (contlnued) Fund structure Unrestricted income funds are general fijnds thal aro available for use al the truste08 dlscretSon In furtheran of the objectives of the Charity. Designated fvnds aro unrestricted funds earrnarf(ed by the Trustees for speafic purposes. Flnanclal Instruments Classlflcation Financial assets ano Inancial liabifiu8s are recognlsed svhen the chartty becomes a paty to the contractual provisions of the instrument. Flnanclal Ilabilittes and equity instruments are classffled according lo the substance of the conlractU81 arrangements entered Into. An equity instrument is any contraet that evidences a resldual interest in the assets of the charity after dedJJclng all of its liablllties. Ro¢ognltlon and mea6urem•nt All financlal assets and liabille8 are inthalty measured at transaction price Ilncluding transadion c(Ist51, except for those financial a588ts classrfied as at fair value through Profil OT loss, which aTe initialty measured at falr value (which is normally the transadon price 8xcJuding tr8nsÈction costs), unless the arrangement constitut88 a financing transaction. If an arrangement conslltules a financing transactlon. the finanryal asset c* flnancial liability Is measured al the present value of the future payments discounted at a rnarket rate of interest for a similar debt ill5trument. Financial essets and liabilitses are only offset in the statemont of financial position wh8n, and only when there exlsls a legally enforceable rfghl lo set off the recognised amounts and the charity intends either lo settle on a net basis, or lo realise the asset and sett18 the liability simultaneously. Flnanclal ass8t8 8re dèrecognised when and only when al the contractual rights lo the cash flows from the financial asset expir8 or ar8 settled. bl the charity transfers lo another paty substanb.ally all of the risks and rewards of ownership of the financial asset, or cl the charity, desplte having retained some. but not all, signrflcanl risks and rewards of ownérship, has transferred control of the asset to another paty. Financlal liabllities are derecognlsed only when the obligation specified In the contract is discharged, cancelled or expires. Page 20
Susan Day Residential Home Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 2 Incom• from donations and18gaci88 Unrestrlctsd funds General Total 2025 Donations- general 3.244 3,244 Unrestricted funds General Total 2024 Donations- general 6,903 6.903 3 Income from charftablo actlvlties Unrestricted funds General Total 202S Residents fees Fee tOPUPS 1,478,022 3.938 1.478,022 3,938 1,481,960 1,481,960 Unrestrlcted funds G8noral Total 2024 Residents fees 1,291,719 1,291,719 Page 21
Susan Day Residential Home Notes to the Financlal Statements for the Year End•d 31 March 2025 (continuod) 4 Investment Incom Unr•strict8d funds General Total 2025 UK bank deFQ5h 8ccount Interest 10,866 10,866 Unrestricted funds Gènernl Totsl 2024 UK bank deposit account interest 2,328 2.328 5 Othér InCle Unr•strSct•d funds General Total 2025 Other Incorne 1.799 1.799 Unrestrlcted funds General Total 2024 Other income 1,892 1,892 Pago 22
Susan Day Resldenllal Home Notes to the Flnanclal Statements for tho Year Ended 31 March 2025 (continued) e Expendlture on charftable actlvltles by fund typo Unrestricted funds Gon•ral Totsl 2025 Gener81 fund Am8nitios fund Support costs 1,379,975 5.231 17,712 1,402,918 1.379,975 5,231 17,712 1,402,918 Unrestrlcted funds Genwal Rostrl¢t•d funds Total 2024 General fund AJnenities fund Support costs 1,229,147 7,834 39 1,229,186 7,834 19.315 1,256,335 1,256,296 7 Analysls of support costs Support C08ts allocatsd to charltable adlvltles Total 2025 Totsl 2024 Printing, postage, stationery and adverts A¢¢ountsnGy and paymll fees COnsuanCY fees Audit feFJS Bank charges 312 5,688 7,997 3,675 476 5,845 9,429 3.50D 65 17,712 19,315 8 N•t Incomlngloutgolng rgsourcgs Net incoming resources for the year include: 2025 2024 Depreciation of fixed assets 5,170 5,170 Pag8 23
Susan Day Residential Home Notes to the Flnanclal Statements for the Year Ended 31 March 2025 (continued) 9 Trustees remuneratlon and pxpen8es No trustees. nor any persons connect8d with them. have received any remuneratSon from the charity during the year. 10 Staff costs The aggr89ate payroll Gosts were as follows-. 2025 2024 Staff costs durlng the year were: Wages and salaries Soci81 security costs Penslon costs 977,693 66,013 18,730 870,186 54,863 14.899 1,062,436 939,g48 The monthly average number of persons lincludlng senlor management I leadershlp team) employed by the charity durfng the year was as follows.. 2025 No 53 2024 No 49 Carors, caterlng and administration No employee received emoluments of mc*e than £60,000 during the year 11 Audttor¥' rernunelatlon 2025 2024 Audit of the finanoal statements 3.675 3,500 Other fees to auditors Accountancy and payroll fees 5,688 Page 24
Susan Day Residential Home Notes to tha Financial Statements for the Year Ended 31 March 2025 (continued) 12 Taxatlon Tho tharity is a registered ¢harAy and 1$ Iherpfore exempt from taxation. 13 Tanglble Ilxed assets Furnlture and oquipmont Land and bulkllngs Total Cost At 1 April 2024 At 31 March 2025 517,002 255,038 772,040 517,002 255.038 772,040 Depreclatlon At 1 Aprfl 2024 Ch8rge for the y8ar At 31 March 2025 140,159 5.170 255,038 395,197 5,170 145,329 255,038 400,367 Not book valu At 31 March 2025 371,673 371,673 Al 31 March 2024 376,843 376,843 Freehold buildings We independently valued by 8 Chartered Surveyor on the basls of an open morket valuation for existing use in July 1997. No historic cost records are available because the fr8ehold buildlngs were not on the Balance sheet before 1997. The charity has adopted the transitional provisions of FRS102 and the valuation of £360,000 has not begn updated and has instead been adopted as deemed cost. All additionl improvement$ to the property since 1997 are at cost. In April 2007, an insurance assessor carried out a detailed valuation of the property and considered that rt had a value of £2,300,000. The trustees considered this value realislc. The trustees e8mate that this value will be at a similar lev81 at 31st March 2025. 14 Stock 2025 2024 Stocks 4,319 3,677 15 D8btors 2025 2024 Trade debtors Prepayments 8.538 9,119 10,683 10.683 17,657 Page 25
Susan Day Residential Home Notes to the Financial Statsments for the Year Ended 31 March 2025 (continued) 16 Cr•dltors: amounts falling due wlthln ono year 2025 2024 Trade ¢reditors Other cx8ditors Accruals 24,973 4,569 27,559 11,640 8.265 57.101 19.905 17 Penslon and othor schomos Deflnod contributlon pension sch•m The charity op8rates a d8flned Gonlribution pension scheme. The pension cost charge for the year represents contrtbutions payabl8 by th8 charfty to the scheme and amountèd to £18,730 12024 £14,899). 18 Funds 8alanc• at 1 Aprll 2024 Balance at 31 March 2025 Incomlng Resourc•s rnsources expended Tran$f•rs Unrestricted funds General Ggneral Funds Amen1eS fund Contingency Fund Property Reserve 148,601 7,233 250,000 376,843 1,495,649 11,393,845) 2,220 13.9031 13,0861 3,086 247,319 8,636 250,000 371,673 877,628 5,170 1,402,918) 782,677 1,497,869 Page 26
Susan Day Resldential Hom6 Notes to the Financial Statements for the Year Endod 31 March 2025 (continued) Balance at 1 April 2023 Balance at 31 March 2024 Incomlng Resources esources axpended Transf•rs General General Funds Amenities fvnd Contingency Fund Propety Reserve 192.560 11.558 150,000 382,013 736,131 1.299,333 11,243,292) (100,0001 3,509 17.834) 148,601 7,233 250,000 376.843 100,000 15,170) 1,302,842 11,256,296) 782,677 Unrestrlcted fund5 Restrirtsd funds Dèfibrillator fund 39 39 Total funds 736,170 1,302,842 {1.256,335) 782,677 The specthc purposes for which the funds are to be applied are as follows: The unrestricted funds are fvnds available for the use al the discretion of the trustees in fvrtherance of the general objectives of the charlty. The ameni118s fund includes unrestr¢ctetl income from Ihe tharills open day, coffee mornings and donations, and the related bank interest from such funds. Expenditure from the fund Is the cost of the events and any surplus is designated for use of trips and outings and fcsr Christmos and other occaslonal glfts. A separalg designated prop8ty r88ervg has begn Sel up to represent the book value of the freehold buildings shown in the accounts. This tangible fixed asset wll be retained tr) ensure the tharity continues in it current actitIeS as a residential home. The trustees had deslgnated £250,000 of the rèsewes as a conllngency fund. This Is to be used for any unforeseen emergencies whith may arise, mainty in respect of income,. Staffing costs,. or premlses costs. The trustees believe thSs lo be good gov8mance In particular tsking Into account the needs of resldents who are beneflclarfes of the charfty. In 2023, the home reiVed grants towards the purchase of a d8fibrillatrJr. The remaining balance was fully spent durlng 2024. Page 27
Susan Day Residential Home Notes to the Flnancial Statements for the Year Ended 31 March 2025 (continued) 19 Analys18 of net 888ets between funds Unrestrlctsd funds Gon8ral Total funds at 31 M?h 2025 Tangible fixed assets Current assets Current IlabllSlles 371.673 563,056 157,1011 877,628 371.673 563,056 (57.1011 877.628 Total net assets Unrestrictod funds General Total funds •t 31 March 2024 Tanglble fixed assets Current assets Current Ilabilltles 376,843 425,739 119,905) 376,843 425,739 119,9051 Total net assets 11 782,677 782.677 20 Rfrlatsd party transactlons There were no related party transaction5 In the year, Pag8 28