Docusign EnvelopÈ ID". 23A089Fg-6D2C4257-B24E-07CD32B87759 Financial Statements for the year ended 31 March 2025 Eventide Homes Trust Charity Numbèr.. 208761
Docusign Envelope ID: 23A089F9-6D2C-4257-B24E-07CD32BB7759
Eventide Homes Trust for the year ended 31 March 2025
Contents
| Contents | |
|---|---|
| Charity Information | 3 |
| Report of the Trustee | 4-7 |
| Independent Auditor’s Report | 8-10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Notes to the Financial Statements | 13-18 |
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Docusign Envelope ID: 23A089F9-6D2C-4257-B24E-07CD32BB7759
Eventide Homes Trust for the year ended 31 March 2025
Charity Information
The sole corporate trustee of the charity is The Riverside Group Limited. The corporate trustee is managed by its Board of Directors which consists of non-executive directors. Members of the trust Board are not individual trustees under charity law, but act as agents on behalf of the corporate trustee and fulfil the trustee’s duties in accordance with the charitable objectives. The members of the Board of Directors of the corporate trustee who served during the financial year were as follows:
Terrie Alafat Ingrid Fife (resigned 30 April 2024) Nigel Holland Sandy Murray (Resigned 30 April 2025) Erfana Mahmood Olwen Lintott Sam Scott Mona Shah Kei-Retta Farrell Fenella Edge Richard Williams (appointed 1 April 2024) Pauline Ford (appointed 1 May 2024) Carol Matthews (resigned 30 April 2024) Paul Dolan (appointed 1 May 2024)
- Co-opted Board Member
Principal Office 2 Estuary Boulevard Estuary Commerce Park Liverpool L24 8RF
Charity Number 208761
Registered Auditor
BDO LLP Eden Building Irwell Street Salford Manchester M3 5EN
Investment manager
CCLA Investment Management Limited 1 Angel Lane London EC4R 3AB
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Docusign Envelope ID: 23A089F9-6D2C-4257-B24E-07CD32BB7759
Eventide Homes Trust for the year ended 31 March 2025
Report of the Trustee
The trustee presents their report together with the audited financial statements for the year ended 31 March 2025.
Reference and administrative details
The registered number and principal office, and the trustee who held office during the year, up to the date of this report, are detailed on page 3.
Structure, governance and management
Eventide Homes Trust was established under a Declaration of Trust dated 16 November 1925, and administered by the Charity Commission Scheme dated 29 June 1967.
Eventide Homes Trust is a registered charity (Reg No. 208761) in England and Wales.
The ultimate parent undertaking and controlling party is deemed to be The Riverside Group Limited (TRGL), a company incorporated in England and Wales and registered under the Cooperative and Community Benefit Societies Act 2014 and a registered provider, registered at 2 Estuary Boulevard, Estuary Commerce Park, Liverpool L24 8RF.
The trustee consider that TRGL and its subsidiaries are related by virtue of significant influence.
Trustees
The trustee of the charity, at the date of this report, are listed on page 3.
Trustee recruitment
The sole corporate trustee of the charity is The Riverside Group Limited which is managed by its Board of Directors. Members of the Trust Board are not individual trustees under charity law, but act as agents on behalf of the corporate trustee and fulfil the trustee’s duties in accordance with the charitable objectives.
Trustee appointments are made in consultation with The Riverside Group Limited (TRGL) as the charity’s major donor. Trustee vacancies, when they arise, are promoted in an appropriate manner to seek a complimentary balance of skills and experience in relation to the current board.
Eventide Homes Trust recognises that an effective board of trustees is essential if the charity is to be effective in achieving its objectives. Individual trustees should have sufficient knowledge, both of trusteeship in general and of the charity’s activities, to enable them to carry out their role and to represent the charity at meetings and other events.
Care has been taken to ensure the board has appropriate skills and experience. Eventide Homes Trust has adopted the board skills audit and whole board appraisal process used by TRGL, which itself has the highest governance rating from its own regulator and adopts NHF Code of Governance 2020.
Trustee induction and training
Trustees are offered relevant training as part of their development. They are encouraged to access training opportunities as appropriate and, as a minimum, to read the Charity Commission’s guidance, ‘The Essential Trustee’.
The Board carries out an annual appraisal of performance and effectiveness in accordance with the adopted Code of Governance which itself has the highest governance rating from its own regulator.
Trustee remuneration
The trustee of Eventide Homes Trust receives no remuneration for their work. Any expenses claimed by the trustee are donated by TRGL.
Committees
The Board of The Riverside Group Limited (the trustee of the charity) is supported by the Group Audit Committee.
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Docusign Envelope ID: 23A089F9-6D2C-4257-B24E-07CD32BB7759
Eventide Homes Trust for the year ended 31 March 2025
Report of the Trustee (continued)
Governance of the charity
The trustee of the charity is the Board of The Riverside Group Limited. During the period under review, the board met regularly to review the strategy and performance and to agree operating plans and budgets. The Board of The Riverside Group Limited (the trustee of the charity) delegate certain functions to committees operating under specific terms of reference. Minutes of all committee meetings are presented at the following board meeting. Applications for board membership of The Riverside Group Limited (the trustee of the charity) and trusteeship of the charity are generally sought by advertisement.
The trustee delegates the day-to-day management of the charity to the Riverside Executive Director, Care and Support.
Governance costs (including internal audit, trustee expenses, trustee indemnity insurance and costs of producing statutory accounts) are currently borne by The Riverside Group Limited and are not recharged to the charity. The external audit fee is a donated service to Eventide Homes Trust by The Riverside Group Limited.
Charity Governance Code
The Charity Governance Code is designed as a tool to support continuous improvement. The board, having reviewed the Code’s key principles, considers its governance structure and arrangements to be appropriate for the nature of its operations, and as such has decided not to formally adopt the Code. The board does however regularly visit the Code’s key principles to ensure that the highest standards of governance are maintained.
Objectives, activities, achievements and performance
The trust was responsible for 10 bungalows specifically for older people, situated in Crowther Road, Wolverhampton. The primary object of the trust, as stated in its governing document, was to manage and maintain the properties for the benefit of the tenants. The activities undertaken by the trust are to further its charitable purposes for the public benefit. The properties were disposed of in 2009 and the trust no longer owns any property.
The trustee continues to consider the disposition of the surplus and the future activities of the trust to further its charitable purposes for the public benefit.
The trustee has taken the decision to transfer net assets to another charity and close down the entity in the next 12 months.
The statement of financial activities for the year is set out on page 11 of the financial statements.
Public benefit statement
The trustee has considered the Charity Commission’s guidance on public benefit and borne it in mind when shaping and planning our activities.
The trustee has conducted a comprehensive review of the stated objectives of the charity and are satisfied that all of these are capable of being delivered for the public benefit.
They have further reviewed all the activities of the charity tested against the charitable objectives of the charity, firstly to ensure that they fall within its charitable objectives and secondly to test each activity is being delivered in a manner which can be construed as being for the public benefit.
The trustee is satisfied that there are no activities conducted or promoted by the charity that are not open to all people falling within a defined class or category within the broad parameters or objectives of the charity and that each activity falls within the statutory definition of being for the public benefit.
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Docusign Envelope ID: 23A089F9-6D2C-4257-B24E-07CD32BB7759
Eventide Homes Trust for the year ended 31 March 2025
Report of the Trustee (continued)
Financial review
For the year ended 31 March 2025, the trust made a loss on investment of £2,530 (2024: a gain on investment of £15,159).
The value of reserves at 31 March 2025 stands at £372,699 split between restricted £26,590 and unrestricted funds of £346,109 (2024: £375,229, restricted £26,590 and unrestricted funds of £348,639). The charity holds reserves for its ordinary activities to ensure commitments can be met notwithstanding any unbudgeted essential expenditure and other variable factors.
Investments
The investment, which is shown at market value in the financial statements, is managed by COIF Charities Investment Fund. As per the statement of unit holding as at 31 March 2025 the number of units and value of the investment are 495.37 and £124,813 respectively.
For the year ended 31 March 2025, the trust made a loss on investment of £2,530 following a gain on investment of £15,159 in the year ended 31 March 2024.
The COIF Charities Investment Fund is an investment fund designed exclusively for charitable funds in England and Wales. The fund has the two specific objectives of providing an above average total return and an above average dividend. The Fund is promoted as a socially responsible fund and as such aims to avoid investments in companies whose main business is the manufacture or support of gambling, tobacco or armaments.
Financial statements prepared on a basis other than going concern
The trustee plans to transfer the net assets of the charity in line with requirements of the Trust Deed and then intends to cease trading and therefore does not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern. There have been no adjustments to the financial statements as a result of being prepared on a basis other than of a going concern.
Reserves policy
Monitoring and review of the reserves policy by the trustee is to take place on an annual basis following recommendation by senior officers of The Riverside Group Limited.
The target range for free reserves (unrestricted) is £75,000 to £150,000 and the value of free reserves at 31 March 2025 was £346,109. Unrestricted reserves are held for running costs, governance costs and charitable expenditure to cover thirty years.
Statement of risk
The identification of major business risks and the appropriate response is ongoing through a bottom-up risk management process that involves staff across The Riverside Group Limited. Risk maps are ultimately approved by the Board.
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Docusign Envelope ID: 23A089F9-6D2C-4257-B24E-07CD32BB7759
Eventide Homes Trust for the year ended 31 March 2025
Report of the Trustee (continued)
Statement of Trustee’s responsibilities in respect of the Trustee Report and the financial statements
The trustee is responsible for preparing the Trustee’s Report and the financial statements in accordance with applicable law and regulations.
The law applicable to charities in England and Wales requires the trustee to prepare financial statements for each financial year. Under that law the trustee have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under that law the trustee must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that period.
In preparing these financial statements, the trustee is required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP;
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. As stated in note 1 the trustee do not consider the charity to be a going concern and have prepared the financial statements on a basis other than that of a going concern
The trustee is 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. 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.
The trustee is responsible for the maintenance and integrity of the charity and financial information on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Disclosure of information to auditor
The current trustee has taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. The trustee is not aware of any relevant audit information of which the auditors are unaware.
Approval
The report was approved on 17 October 2025 and signed on its behalf by:
The Riverside Group Limited – represented by:
Terrie Alafat Trustee
17.10.2025
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Docusign Envelope ID: 23A089F9-6D2C-4257-B24E-07CD32BB7759
Eventide Homes Trust for the year ended 31 March 2025
Report of the Independent Auditor to the Trustee of Eventide Homes Trust
Opinion on the financial statements
In our opinion, the financial statements:
-
give a true and fair view of the state of the Charity’s affairs as at 31 March 2025 and of its incoming resources and application of resources for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
We have audited the financial statements of Eventide Homes Trust (“the Charity”) for the year ended 31 March 2025 which comprise the statement of financial activities, balance sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Independence
We remain independent of the Charity in accordance with the ethical requirements relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
Emphasis of matter – financial statements prepared on a basis other than going concern
We draw attention to Note 1 to the financial statements which explains that the Trustee plans to transfer the net assets of the charity and then intend to cease trading. Accordingly, the financial statements have been prepared on a basis other than that of going concern as described in Note 1. No adjustments have been made to the financial statements as a result of them being prepared on a basis other than that of a going concern. Our opinion is not modified in respect of this matter.
Our responsibilities and the responsibilities of the Trustee with respect to going concern are described in the relevant sections of this report.
Other information
The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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Docusign Envelope ID: 23A089F9-6D2C-4257-B24E-07CD32BB7759
Eventide Homes Trust for the year ended 31 March 2025
Report of the Independent Auditor (continued) to the Trustee of Eventide Homes Trust
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion;
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the information given in the Trustees’ Report for the financial year for which the financial statements are prepared is inconsistent in any material respect with the financial statements; or
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adequate accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the Statement of Trustees’ responsibilities, the Trustees is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Extent to which the audit was capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Non-compliance with laws and regulations
Based on our understanding of the charity and the sector in which it operates discussion with management and those charged with governance and obtaining and understanding of the charity’s policies and procedures regarding compliance with laws and regulations. we considered the significant laws and regulations to be the applicable reporting framework (Charities SORP 2019, FRS102 and Charities Act 2011) and we considered the extent to which non-compliance might have a direct impact and material effect on the financial statements.
Our procedures in respect of the above included:
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Discussions with management and trustees, including consideration of known or suspected instances of noncompliance with laws and regulations;
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Review of financial statement disclosures and agreeing to supporting documentation.
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Docusign Envelope ID: 23A089F9-6D2C-4257-B24E-07CD32BB7759
Eventide Homes Trust for the year ended 31 March 2025
Report of the Independent Auditor (continued) to the Trustee of Eventide Homes Trust
Fraud
We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our risk assessment procedures included:
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Enquiry with management and those charged with governance regarding any known or suspected instances of fraud;
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Obtaining an understanding of the Charity’s policies and procedures relating to:
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Detecting and responding to the risks of fraud; and
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Internal controls established to mitigate risks related to fraud.
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Discussion amongst the engagement team as to how and where fraud might occur in the financial statements; and
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Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
Based on our risk assessment, we considered the areas most susceptible to fraud to be management override of controls through inappropriate journal entries to manipulate financial results.
Our procedures in respect of the above included:
- Testing a sample of journal entries throughout the year, which met a defined risk criteria, by agreeing to supporting documentation.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (“FRC’s”) website at:
https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
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. Our audit work has been undertaken so that we might state to the Charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
BDO LLP, statutory auditor Leeds, UK 17 October 2025
BDO LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).
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Docusign Envelope ID: 23A089F9-6D2C-4257-B24E-07CD32BB7759
Eventide Homes Trust for the year ended 31 March 2025
Statement of Financial Activities
for the year ended 31 March 2025
| Notes Income from: Donations and Legacies 2 Total Income Expenditure on: Governance 3 Total expenditure Net income Gains/(losses) on investments Net movement in funds Reconciliation of funds: Total funds brought forward 8 Total funds carried forward |
Unrestricted Funds 2025 Restricted Funds 2025 Total Funds 2025 Total Funds 2024 £ £ £ £ 11,000 - 11,000 10,000 |
|---|---|
| 11,000 - 10,000 10,000 (11,000) - (11,000) (10,000) |
|
| (11,000) - (10,000) (10,000) - - - - (2,530) - (2,530) 15,159 |
|
| (2,530) - (2,530) 15,159 375,229 - 375,229 360,070 |
|
| 372,699 - 372,699 375,229 |
The statement of financial activities includes all gains and losses recognised in the year.
The total funds for 2025 were all unrestricted funds.
All income and expenditure derive from continuing activities.
The notes on pages 13 to 18 form part of these financial statements.
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Docusign Envelope ID: 23A089F9-6D2C-4257-B24E-07CD32BB7759
Eventide Homes Trust for the year ended 31 March 2025
Balance Sheet as at 31 March 2025
| Note Fixed assets Investments 6 Current assets Debtors 7 Net current assets Funds Unrestricted- General 8 Unrestricted- Designated 8 Total charity funds |
2025 £ 124,813 124,813 247,886 247,886 372,699 346,109 26,590 372,699 |
Restated 2024 £ 127,343 |
|---|---|---|
| 127,343 | ||
| 247,886 | ||
| 247,886 | ||
| 375,229 | ||
| 348,639 26,590 |
||
| 375,229 |
The notes on pages 13 to 18 form part of these financial statements.
The financial statements on pages 11 to 12 were approved by the trustee and authorised for issue on 17 October 2025, and were signed on their behalf by:
The Riverside Group Limited – represented by:
Terrie Alafat Trustee
17.10.2025
Charity number 208761
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Docusign Envelope ID: 23A089F9-6D2C-4257-B24E-07CD32BB7759
Eventide Homes Trust for the year ended 31 March 2025
Notes to the Financial Statements
1 Principal accounting policies
The principal accounting policies, all of which have applied consistently throughout the year, are set out below.
Legal status
Eventide Homes Trust is a registered charity (Reg No. 208761) in England and Wales. The charity is a wholly owned subsidiary of The Riverside Group Limited (TRGL).
Basis of preparation
The financial statements have been prepared under the historical cost convention, as modified by the recognition of certain financial assets and liabilities measured at fair value
Eventide Homes Trust meets the definition of a public benefit entity under FRS 102
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP), Financial Reporting Standard applicable in UK and Republic of Ireland (FRS 102)
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the accounting policies.
The charity’s functional and presentational currency is pounds sterling.
The following principal accounting policies have been applied:
Going concern
The trustee plans to transfer the net assets of the charity in line with requirements of the Trust Deed and then intends to cease trading and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern. There have been no adjustments to the financial statements as a result of being prepared on a basis other than of a going concern.
Judgements and key sources of estimation uncertainty
The trustee has not had to exercise any significant judgement in applying the charity’s accounting policies.
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the statement of financial position date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
Due to the nature of the operations of Eventide Homes Trust, there is limited judgment or estimation involved in preparing these financial statements.
Income
Incoming resources comprised of a donated service from The Riverside Group (TRGL), at an amount equal to the governance cost for the external audit fee payable in the year.
Investment income is recognised on a receivable basis.
Governance costs
Governance costs (including internal audit, trustee expenses, trustee indemnity insurance and costs of producing statutory accounts) are currently borne by The Riverside Group Limited and are not recharged to the charity. The external audit fee is a donated service to Eventide Homes Trust by The Riverside Group Limited, this is donated at an amount equivalent to the open market value of the service.
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Docusign Envelope ID: 23A089F9-6D2C-4257-B24E-07CD32BB7759
Eventide Homes Trust for the year ended 31 March 2025
Notes to the Financial Statements (continued)
1 Principal accounting policies (continued)
Taxation
The charity is a registered charity and as such, is entitled to certain tax exemptions on income and profits from investments, and surpluses on any charitable activities carried on in furtherance of the charity’s primary objectives, if these profits and surpluses are applied solely for charitable purposes.
Fixed Asset Investments
The CCLA COIF Charities Investment Fund is an investment fund designed exclusively for charitable funds in England and Wales. The investments have been classified as fixed asset investments as the charity intends to hold them on a continuing basis and are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Financial Activities for the period.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Financial instruments
Financial liabilities and equity are classified according to the substance of the financial instrument’s contractual obligations, rather than its legal form.
Investments are carried in the statement of financial position at fair value with changes in fair value recognised in the statement of financial activities if their fair value can be measured reliably. Otherwise, they are carried as cost less impairment.
Unrestricted funds
All funds are expendable at the discretion of the trustee in furtherance of the objects of the charity and are therefore, considered to be unrestricted. However, the trustee is mindful of the wishes of the donors when determining how funds are spent.
The expendable endowment fund is invested to generate unrestricted income for the charity, which can be transferred at the discretion of the trustee. In the prior year the endowment reserve was incorrectly classified as restricted on the balance sheet, a restatement has then occurred in the current year to correctly present this as unrestricted.
Restricted funds
Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose and the restriction means that the funds can only be used for specific projects or activities.
Impairment
Financial assets are assessed at each reporting date to determine whether there is any objective evidence that a financial asset or group of financial assets is impaired. If there is objective evidence of impairment, an impairment loss is recognised in the statement of comprehensive income immediately.
An impairment loss is measured as follows on the following instruments measured at cost or amortised cost:
-
For an instrument measured at amortised cost, the impairment loss is the difference between the asset’s carrying amount and the present value of the estimated future cash flows discounted at the asset’s original effective interest rate.
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For an instrument measured at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that the entity would receive for the asset if it were to be sold at the reporting date.
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Docusign Envelope ID: 23A089F9-6D2C-4257-B24E-07CD32BB7759
Eventide Homes Trust for the year ended 31 March 2025
Notes to the Financial Statements (continued)
2 Donations and legacies
| 2 Donations and legacies | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Unrestricted | ||
| Donated services* | 11,000 | 10,000 |
| _ | _ | |
| 11,000 | 10,000 | |
| _ | _ | |
| *The Riverside Group Limited donate services to the charity. See note 3 for details. | ||
| 3 Expenditure | ||
| 2025 | 2024 | |
| £ | £ | |
| Unrestricted | ||
| Governance costs – audit remuneration | 11,000 | 10,000 |
| _ | _ | |
| 11,000 | 10,000 | |
| _ | _ |
Governance costs comprise trustee expenses and audit fees. The audit fee of £11,000 (2024: £10,000) was paid by the parent company, The Riverside Group Limited.
4 Employees emoluments
The charity had no employees in either the current or the prior period.
5 Trustee expenses and remuneration
There were no payments made to the trustee for emoluments or expenses throughout the year ended 31 March 2025 (2024: £nil).
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Docusign Envelope ID: 23A089F9-6D2C-4257-B24E-07CD32BB7759
Eventide Homes Trust for the year ended 31 March 2025
Notes to the Financial Statements (continued)
6 Investments
CCLA COIF Charities Investment Fund
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Balance at 1 April | 127,343 | 112,184 |
| Unrealised gain/(loss) during the year | (2,530) | 15,159 |
| _ | _ | |
| Balance at 31 March | 124,813 | 127,343 |
| _ | _ |
Investments are shares in CCLA COIF Charities Investment Fund which have been measured at fair value. The total loss recognised on these investments in the period was £2,530 (2024 gain £15,159) representing the fair value remeasurements shown above and dividends received of £nil (2024 - £nil).
Financial instruments measured at fair value
Where financial instruments are measured in the statement of financial position at fair value, disclosure of fair value measurements by level is required, in accordance with the following fair value measurement hierarchy.
Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (from prices) or indirectly (that is derived from prices).
Level 3 – Inputs from the asset or liability that are not based on observable market data (that is, unobservable inputs).
Investments measured at fair value through profit and loss comprise investments in CCLA COIF Charities Investment Fund. The fair value is determined by reference to their market price.
7 Debtors: amounts falling due within one year
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Amounts owed from related parties | 247,886 | 247,886 |
| _ | _ | |
| 247,886 | 247,886 | |
| _ | _ |
Amounts owed from related parties are unsecured, interest free and repayable on demand. See note 10 for further details.
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Docusign Envelope ID: 23A089F9-6D2C-4257-B24E-07CD32BB7759
Eventide Homes Trust for the year ended 31 March 2025
Notes to the Financial Statements (continued)
8 Funds
| Balance | Income | Expenditure | Balance | ||
|---|---|---|---|---|---|
| 1 April | Investments | 31 March | |||
| 2024 | gains/(losses) | 2025 | |||
| Expendable endowment | 26,590 | - | - | - | 26,590 |
| Unrestricted income funds | 348,639 | 11,000 | (11,000) | (2,530) | 346,109 |
| _ | _ | _ | _ | _ | |
| Total funds | 375,229 | 11,000 | (11,000) | (2,530) | 372,699 |
| _ | _ | _ | _ | _ | |
| Balance | Income | Expenditure | Balance | ||
| 1 April | Investments | 31 March | |||
| 2023 | gains/(losses) | 2024 | |||
| Expendable endowment | 26,590 | - | - | - | 26,590 |
| Unrestricted income funds | 333,480 | 10,000 | (10,000) | 15,159 | 348,639 |
| _ | _ | _ | _ | _ | |
| Total funds | 360,070 | 10,000 | (10,000) | 15,159 | 375,229 |
| _ | _ | _ | _ | _ |
Expendable endowment
The expendable endowment fund is invested to generate unrestricted income for the charity, which can be transferred at the discretion of the trustee.
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Docusign Envelope ID: 23A089F9-6D2C-4257-B24E-07CD32BB7759
Eventide Homes Trust for the year ended 31 March 2025
Notes to the Financial Statements (continued)
9 Ultimate Parent Undertaking and Controlling Party
Control is exercised through corporate trusteeship. The ultimate parent undertaking and controlling party is deemed to be The Riverside Group Limited (TRGL), a company incorporated in England and Wales and registered under the Cooperative and Community Benefit Societies Act 2014 and a registered provider, registered at 2 Estuary Boulevard, Estuary Commerce Park, Liverpool L24 8RF.
The smallest and largest group to consolidate these financial statements is that headed by TRGL. Copies of the TRGL consolidated financial statements can be obtained from its registered office, 2 Estuary Boulevard, Estuary Commerce Park, Liverpool L24 8RF, or from its website www.riverside.org.uk.
The ultimate controlling party of TRGL is the trustees.
10 Related party disclosures
The trustee consider that The Riverside Group Limited (TRGL) and its subsidiaries are related by virtue of significant influence.
TRGL donate services to the charity. Auditor’s remuneration comprises the audit fee. During the year the charity received £11,000 (2024: £10,000) in donations in kind for these services, with no conditions attached (see note 2).
The balance due from TRGL included in debtors at the year-end was £247,886 (2024: £247,886). Amounts owed from related parties are interest free and repayable on demand.
No emoluments were paid to the trustee during either the current or the prior period.
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