Ch8rfty Registradon No. 216594 LEICESTERSHIRE AND RUTLAND COUNTY NURSING ASSOCIATIO TRUSTEES, REPORT AIYD ACCOUWts FOR THE YEAR ENDED 31 MARCH 2025 SOM£RBYS LIMITED CHARTERED ACCOUNTANTS 30 IYELSON STREET LEICESTER LEI 7BA LEICESTERSHtRE AND RufLAND COiINFY NURSING ASSOCIATIO LEGAL AND ADMtNISTRATTrT tNFORMATION ChArity number 216594 Trustees Mr8 C M Wesgel (Chair) Mr5 J Pochin Mr D Knowles (Appointe4J 13 Octobcr 2024) S Illsley Nfrs J Wood Mr D Wood Mr D Surtees (Resigned 5 May 2024) Mrs S Freeman Mrs S Fish Treasurer Mr E Cufflin Secretary R Cufflin Prlnclpal address Mercury Plw¢ St G¢orge Street Leicester LEI IQG Account*nts Somerbys Limited 30 Nelson Strcct Lei¢cster LEI 7BA Bauker5 Bank of Scotlaod PO Box 1000 BX2 ILB lllvestment Advi$¢rs Charles Stanley & Co Mercury Place St George Street Leicest¢r LEI IQG LEICESTERSHlliE AND RUTLAND COUNfY NURSING A&SOCIATION Trustees, rei Ind￿endent examiner's rei stat￿nent of fjnancial activities Bthe sheet Notes to the accounts LEtCESTERSHIRE AND RirrLAI¥D COUNTY NURSING ASSOCIATION AI¥NUAL REPORT YEAR ENDED 31 MARCH 2025 Struetur4 Governvlnce MallJgemeDt The charity is regulated by a Scheme of the Clwity Commissioners dated 5 February 1979 as amended by schemes dated 7 January 2005 and l November 2013 aDd a5 atn¢ud¢d by a Resolution dated 9 March 2￿5. Mf¢hod ofoppoinlmenl of In￿1￿ The 1979 Scheme provides for a maxinlum of ten trustres. The gmended Scheme fillth¢r provides that th¢ trustees shall be competent p¢r50n$ who through r¢sidence. occupation, or employment have spclial knowl¢dge of the counties of LeicestershiTe and Rutland. Where ther¢ is a requirement for new truqtees. these would bc identified and appointed by the remaining lThstees. Polieiey andproceduresfor induction ond training oftrwi¢es The Chairnmn of tnLStees is responsible for th¢ induction of any new 1nJstee. This training would inrlude awarcne8s of tr￿tee responsibilities. the governing Schemes. administrative pffcedures. and the history, philosophical and moral approach of the charity. In addition, at the ftyst few meetings attended by a new vs*¢, the Chairnw) would give bill]ts an4)k opportunity for questions aod explain agenda itemq more fi￿Y than usual. Organtsaiional structure and how dec&sio￿ are made The charity is ¢omp)8ed of its trustees. a secretary and a treasur¢r' tILe two latter re¢¢ive annual honoraria. In additio￿ the clwity thkes investmellt advice from Charles St8]]ley, a firni of stockbrokers. Decisions are m￿¢ by the bwstees who. when necessary. tak¢ advice from Ihexr stockbrokers, or outsidc agen¢i¢s. Riskfactors The charity has Colllillued to ¢xamine th¢ major strategic. business and operntional risks which it faces. When risks have been identified it bas devised and impl¢mented systems to mitigate any exposure. Objeedy￿ and Activities The charity's objects are to provide aid to persoD8 ernployed in or fornierly employed in the nursing profession in the Counties of L¢icestershire and Rudand and who thro￿gh age, ill health, accidenl or infinnity are unable to maintain themselves, and also to provide relief to those persons resident in the Counties of Lei¢¢sÉershir¢ atLd Rutland who are sick, ¢onvalescenL disablcd handicapped or itifirllL atsd who are nol readily able to obtain support from other sources with a preference for persons ￿ployed or forn]erly employed in the nursing pv)fessio The policics adopt¢d in furtberallce of these objects were updated by the 2013 Schcme. Public benefii The th]stees Cot￿ that they have referred to th¢ guidance contsined in the Charity Commission's g¢ll¢ral guid8Ke on public benefit when reviewing the clwity's aims and objectives and in planjjing futtre activities and that they remain committed to supporting fornier disrricl nurses entploy¢d in tILe Counties of Leicestershire and Rutlaod and also those per80ns resident in the area who reqlli￿ assistance. as detailed mor¢ Ily &lx)ve. LETCESTERSHIRE AND RiJTLAND couNrY NURSING ASSOCIATION YEAR ENDED 31 MARCH 2025 Inveflmentpvlicy The tw$tees' policy is to ad¢)pt an investment strategy consistent with S￿uTing income ond capi rettwns on the investments. Aehlevements and Perfom4nc¢ Durtng the year the clwity made donations and grants totalliog £68.500 (2024- £65,750). Th¢ total income for thc year was £54.397 compared ÉO £54,914 for the previous year. The income was supplcmented by grolltb in the v&lue of the itiv¢stm¢nt portfolio to fund th¢ clwitable activities iti a¢¢ordance with the Totsl RctLrnS investment y)licy that the trustees believc is suitable to achieve superior investment return5 over a 10-year investment cy¢le through volatile nmcroeconomic inves¢m¢nt conditions when ￿)mpared to seekillg solely a higb itiv¢stn)ent income. Free Reserves Pollcy It is the tsvstees, continuing aim to maintain the free c&sh reserves at approximately six mortth8 ffincome, so as to ensure sufficient cash flow for donations Ihrougbout the year alld m¢¢t, if necessary. extraordinary grants. The trustees ¢urrently hold fr¢e reserves in exccss of 8ix months of expected income. The trustees will n￿￿ltor the res¢rves on an annual basis in conjunction with the preparation of tk Annual Report. Plans for Future Periodg The tswstees intcnd to continuc giving grallts to those who f811 within the prO￿810n set out by the Schemes, and aillj to incur as few costs &8 possible, so that the m&ximum atnount possible may be given to tbose in StatemeDt of Trustees, Respoll81blllties Law applicable to clwities in England & Wales requires the trustees to prepare financial stslements for each f￿￿￿la1 year which give a true and fair view of ihe charity's financial activities during the year and of its fjnancial position at thc elld of tbe year. In preparin8 financial statements giving a true atHI fair view. the 1nJs*¢s should fo114)w best practice and.. sele¢¢ suitable accountinB policies aThJ then apply them consistently. mak¢ judgments and estimates that are rea50llabl¢ and prudcnt; prepare the finaD¢ial statements on a going concern basis unle&s it is itwpriate to pr¢sume that the charity will ¢ontinue in OF£rntio The thjstees are responsible for keeping accounting records which d￿l05e with reasonable accwacy the fLnwKial p051tion of the cbariry, and which enable them to ascertain tb¢ fll)an¢ial wsition of the clwity and which enable them to ensure that the fitLgncial stateuKls comply with the Charities Act 2011. They are ￿s0 Tcsponsible for safeguarding the a￿ts of the chority at￿ hence for tithing reasonable 51cps for th¢ prevention And d¢te¢tion of fraud and other irregularitie& h￿f of the board of tsi]ste¢s Mr8 C M Wessel Cbair 14 October 2025 LEICESIERSHIRE AND RUTLAND COIJNTY NURSING A&SOCIATION INDEPENDENT EXAMtNERS REPORT TO THE TRUSTEES YEAR EIWED 31 I￿ARCH 2025 I report to the trustees on my examination of the accounts of the charity for the y¢ar ￿dea 31 March 2025 which are 8¢t out on wages 4 to 8. RespoDslbllitles and b￿ts of report As the ¢harity's trnstees you are responsible for the preparation of the accounts in aC¢orda￿e with the requirements of the Charities Act 2011 ('the Act.). I report in respect of my eX￿l￿ation of the cbarity's accounts cattied out under sectiott 145 of the Act and in carrying out my cxamination I have followed all the applicable Directions given by the Charity CoJJuJissi uuder 8¢¢tion 145(5Xb) of the Act. Independent uaminer's 5tatemeJt S have eompletea my ¢xamination. I confinn that no material Ma￿1¥ have come to my attention in connection with th¢ examination giving me cause to believe that in any matsrial respect.. ac¢ounting records were not kept in respect of the cbarity as required by section 130 of the Act. or 2. th¢ om)unts do Dot a¢¢ord with those records; or 3. the a¢counts do not comply with ibc applicable requiremcnts conc¢rning the form and content of accounts set out in the Cbarities (Accounts and R¢ports) Regulations 2008 other than any requirement that the ac¢ounts give a 'true and fair view. which is Dol a matter considered a8 part of an indepetkdent examillatiotL I hav¢ no concerns and have come across no other matters in connection with the examination to which attcntion should be n this report in order to ellable a proper underslanding of the accounts to be reached. W Dockerty (FCA) ered A￿OUntat 30 Nelson Street Leicesler LEI 7BA Dated. 14 Octob¢r 2025 LEICESTEKSHIRE AND RUTLAND COUNTY NURSING ASSOCIATION STATEMENT OF FtNANCL4L ACTITrTTIES FOR THE YL4RENDED 31 MARCH 2025 Note 2025 2024 Income and elldojvments from: InvestDWIt income 54.397 54.914 Tot91 54J97 54.914 Ezpendlture on: Ch*rftable *cthdty Grants and donations payablc Administration expenses 68.500 4.341 65.750 4.199 Totsl 72.841 69.949 Net expenditure before Investment yinsllosses (18,444) (15,035) Gains on Investments: Realised losses on disposal of investsn¢Dts Unrealised gainsloosses) on revaluatiott of investments Investment n)aDagement wgts (16,834) 46,608 (9.539) .745) 31,733 (9,159) Net incomel(expendiMre) 1.791 3,794 Fund balances at l April 2024 1.321216 1.317.422 Fulld bAlgnces at 31 March 2025 1,323,007 1,321216 All of the aix)ve fulld8 are unreslri¢t¢d. LEtCESTERSHIRE AND R[￿LAND COUNTY NURSING ASSOCIATION BALANCE SHEET AS AT 31 MARCH 21125 Note 2025 Flxed 8ss¢ts tnvestments 1.294.897 1288,825 CurreD¢ Assets Cash at bank and in batml 29,550 33,747 Credltors: Nmoullts falling due wltbln one year (1.440) 1,323.(M)7 (lJ56) lJ21216 Net current *88ets 1323 007 lJ21216 Totsl axgets less current li*bllltles Fund5 of the eharlty UTwcstricted fuJKis 1.323.007 lJ21216 Apwoved by the TNsl¢e5 on 14 OctoiKr 2025 arKI signed on their bet￿lf by". Mrs C M Wesscl Chatr IIIcL￿ERsHlRE AND RufLAIYD COiMY NURSING MSSOCIATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 3] MARCH 2025 A¢￿untIng ￿￿cleS 1.1 ￿$1$ of prepArwÉio Th¢ [ll￿ncIal statements bave been prepared in acwrdaDce with the charity's governing documenL the Charities Act 2011 and "Accounting and RetM)rtitig by ￿arIties.. Stst¢m¢nt of Recommended Practice applicable to charities prq)aring their accounts XD acwrdance with the Financial Reporting Stsndard appli￿ble in the UK and Republic of Jreland (FRS102) (effective l January 2019)" The Clwity is a Public Benefit Entity as defujed by FRSIO2. The charity has t4ken advantage of the provisions in the SORP for charitie5 applying FRS 102 u￿te Bulletin l llot to wepare a Statemcnt of Cash Flows. Th¢ fmallcial statements hav¢ departed from th¢ Charities (Ac￿Unt$ and Rem) Regulations 2008 only to the extent requir￿] to provide a true and fair Iqew. This departure has I￿volved following the Statement of Re¢ommended Practicc for c]wities applying FRS 102 rather thau the v¢rsioll of the Statetllent of Recolllln¢lld¢d Pwtice which is refe￿ed to in the Rcgulations but which has since been withdrawJL LeiccsteTshire and Rudand County Nursing Associati¢Jn m¢¢ts the definition of a public bencfrt entity under FILS 102 and is registered tn Ellgland. The charity operates from Mercury Place. St George Strecl Leicester. LEI IQG. The fiDallcial sththents are prepand on a going concern basis under the bi8tori¢al cost conventio modified to include certain items at fair valu¢. The financial statemellt8 are pres¢nted in sterliDg wbich is the fim¢tional currency of the charity. 1.2 Incomkng resources All incoming r￿OUrceS are included in the SOFA when the charity 18 legdlly entitled to the income And the amount can be quanÉified witb reasonable accuracy. IJ Re8our¢es expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregatc all ¢osts related to the ¢ategory. Wbcrc costs cannot be directly attrtbuted to particular headings they have been allocated to activities on a basis consistent with use of the resources. IA Investments Investhients are stated at fair valu¢ at the balance sheet date. Thc SOFA includes the net gains and losses arising on revaluations and distrt)8als tlwoughout the yegr. 1.5 Cash and C*sh equlvalents Cash al bank and ill hand arc b8si¢ financial assets and include casb in hand. d￿oSIts held at call with banks. oth¢r short-¢em liquid investment8 With original rnaturities of three months or less. and bank overdrafts. Bank overdrydfts are 8ILown within borrowitkgs in cU￿er1t liabilitics. 1.6 Debtors and cr￿tOrS reL*ivable I P#￿b]e within ofje y￿r Debtors and creditors witb no slated inter¢st rate and receivable or payabl¢ within one year are recorded t ITans&ction price. Any losses ari8ing from itnpa1rn￿1t are r¢wgDised iti eX￿dIture. LEICESTEILSHIRE AND RUTLAND COUNTY NURSING ASSOCL4TION NOTES TO THE ACCOiJIYTS {CONTINUED} FOR TEIE YEAR ENDED 31 MARCH 2025 1.7 Funds Gets¢rai funds ar¢ Unrestricted fimds which are availabl¢ for us¢ at the discretion of the tnJ$te¢s ill fitr(herance of the 8enernl objectives of the ch￿lty and ha￿ not been des1￿8t¢d for other Pu￿Ose$. Investment ID¢ome 2025 2024 Income from listed investments 53,748 649 54,859 55 Interest 54J97 54,914 ResouNes expended Charitable Acttvi 2025 Oth¢r Total 2025 2025 Grants payabk Accountallcy HoDorariwD Insurance 685lX) 68,500 1.482 2,5(K) 359 1,482 2.500 359 68,5(K) 4,341 72,841 Grants and donatlons payable 2025 02 Charity Link- Grnnts for the nttdy Charity Litik- Grant administrative purwjses 56.000 12,500 53,750 12,000 Total Grdttts 65,750 Total grnnts and ¢lonations 65,750 Trustees Duritig the year the secrdw. Nfrs R cUffli￿ receiY¢d an honordrium payment of £1,5(K) (2024 - £1,5(KI) and Mr E Cufflin, the treasurer. received an honorarium payment of £l.O(K) (2024 - £1.(KX)). None of the tr￿￿te£S received re￿￿eratIOn norpayments for expenses during the year. LEICESTERSHIRE Al￿ RvfLAND COUNTY NURSL¥G ASSOCJATIOIY NOTES TO THE ACCOUNTS (CONTINI)ED) FOR THE YEAR ENDED 3] MARCH 2025 2025 Flxed asset illve8tments Mthet value at l April 2024 Additions at ¢ost Disposal proceeds Realised loss Change in value in the year 1.288.826 335,045 (358,747) (16.835) 46,608 Market VAlue at 3A March 2025 1.294,897 Historital Cost: At 31 March 2025 1.185,447 At 31 MaTch 2024 1,213206 Creditors: amounts f4111ng due wlthln one yeAr 2025 Accn]al8 1,440 lJ56 Related party transaction The treasurtt Mr E Cufflin is an ¢mployee of the investment advisorn Charles Sthnley & Co. Dwing th¢ year the charity paid £9,539 (2024- £9.159) to Charle8 Stanley & Co in re￿¢1 of inveStMa￿ services.