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2025-02-28-accounts

Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

Company No: 00326093 Charity No: 219215

Mountlands Trust Limited

(Company Limited by Guarantee)

Trustees’ Report and Accounts

For The Year Ended 28 February 2025

Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

CONTENTS

Page
Company information 1
Trustees’ annual report 2
Report of the independent auditors 8
Statement of financial activities 11
Balance sheet 12
Statement of cash flows 13
Notes to the accounts 14

Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

COMPANY INFORMATION

Trustees Ms R S Kennedy (Chair)
Mrs M J Hossell
Mrs G R Fraser
Mr H Plummer (Deputy Chair)
Mrs A M Morgan (Appointed 29 April 2025)
Company Secretary Mr S N Brearley
Christian Science Nursing Manager Mrs J A Brearley
Administrator Mr S N Brearley
Registered office Lime Tree House
264 Washway Road
Sale
Cheshire
M33 4RZ
Company number 00326093
Charity number 219215
Auditor Nicola Mason FCA DChA
MHA
Chartered Accountants & Statutory Auditor
Richard House
Winckley Square
Preston
PR1 3HP
Investment manager James Brearley & Sons Limited
Walpole House
Unit 2, Burton Road
Blackpool
FY4 4NW

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Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 28 FEBRUARY 2025

The trustees, who are also directors for the purposes of the Companies Act, have pleasure in presenting their report (incorporating the directors’ report) and the financial statements of the charity for the year ended 28 February 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.

Structure and governance

Mountlands Trust Limited is a company ("the company") incorporated under the Companies Act on 31 March 1937, limited by guarantee and not having a share capital. The company is governed by its Memorandum of Association and Articles of Association dated 15 January 1937. New Articles using the Charity Commission’s standard model were adopted in January 2018. These consolidated a change introduced in the 1980’s that the directors are the only company members. The articles provide for a minimum of 3 directors and a maximum of 6 directors.

The company acts as a charity and does not participate in public fundraising events. It derives its income from patient contributions towards their care, patient benevolent grants from “The Aid Fund for Christian Scientists in Need of Nursing Care” and other similar trusts, donations from churches and individuals, as well as income from investments and legacies.

The trustees who have served during the year, and those appointed since the year end, are listed on the information page. Trustees are recruited by invitation based on the skills needed. Appointment is made by majority vote at a General Meeting of the charity. The Charity has policies and procedures in place for trustee induction and training along with a trustee induction pack which are regularly reviewed. Unless otherwise determined by the charity in general meeting, trustees serve for a term of three years and shall be eligible for re-appointment for three further terms of three years. A trustee who has served for four consecutive terms of three years shall not be eligible for reappointment.

The Trustees are responsible for the overall management of the charity, for strategic development and for agreeing policies and usually meet monthly. They keep up to date with current legislation and governance. Daily management of the care home is delegated to the Christian Science Nursing Manager and the Administrator. The pay and remuneration of these key management personnel are reviewed and set annually by the trustees in relation to a full staff pay review done at the same time and is governed by what the charity can afford.

Objectives, Activities and history of the Charity

The main activity of the charity is the operation of Lime Tree House, a Christian Science nursing facility based on Christian Science principles. Lime Tree House was opened to patients in September 2003 with four Christian Science nursing rooms. The small size and use of a converted bungalow was to make the nursing care as homelike as possible. Each nursing room is different in shape, size and colour scheme. In 2013 the charity completed a major extension and refurbishment project, named the Meadows Project. This increased the Christian Science nursing rooms to 6, added a lounge and conservatory overlooking a newly landscaped rear garden and added a laundry room and much needed storage and office space. In 2017 the charity completed another major project, named the Attic Project, to make use of all the roof space to enhance the charity’s operational efficiency.

Lime Tree House was registered with the Commission for Social Care Inspection (CSCI) as a “care home not providing medicines or medical treatment”. On 1 October 2010 the CSCI was replaced by the Care Quality Commission (CQC) under the Health & Social Care Act 2008. Lime Tree House is now registered with the CQC under the registered activity of “Accommodation for persons who require nursing or personal care”. Lime Tree House is a member of the world-wide "Association of Organizations of Christian Science Nursing Inc".

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Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED

(COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2025

Lime Tree House is accredited as a Christian Science Nursing facility by "The Commission for Accreditation of Christian Science Nursing Organisations/Facilities Inc" based in the USA, which reviews each Organisation/Facility every three years. It has been accredited since opening in 2003. This accreditation also allows patients using Lime Tree House to access benevolence from "The Aid Fund for Christian Scientists in Need of Nursing Care".

The aim of the charity is to provide high quality Christian Science nursing care to support patients who are relying on Christian Science for healing. The charity does not use volunteers.

Success is measured by the letters of gratitude from patients and their relatives and by recognition of our high standards from the various bodies that inspect the charity.

Achievements and performance

This year is the twenty-first full year of operation for Lime Tree House.

The Commission for Accreditation of Christian Science Nursing Organisations/Facilities Inc: It reviews Lime Tree House every 3 years. The last review was 21[st] -22[nd] March 2023 and granted a further 3 years accreditation to 31 July 2026. The next review date will be mid to late 2026.

CQC Inspections: Prior to 2003 these are all unannounced. All CQC Inspection Reports are available on the CQC website, or via the CQC link on our website. At the last inspection on 16 August 2023 Lime Tree House achieved the overall category of ‘Outstanding’ having achieved ‘Outstanding’ in the category of ‘Is the service well-led?’ as well as maintaining ‘Outstanding in ‘Is the service caring?’ given by the CQC at their previous inspection on 3 August 2017:

Christian Science nursing care: The aims for the financial year ending 28 February 2024 were: to continue to find ways of improving our service and further develop our training for Christian Science student nurses. This was achieved with two new Christian Science nurses in training joining the charity and one graduating in the year.

Christian Science nursing care fees: After reviewing these, the Charity increased them from 1 March 2022.

Christian Science nursing care occupancy: Our eleventh full year of operating with six rooms was 61.1%, up from the previous year which was 50.5% (2024), 63.1% (2023), 67.8% (2022), 68.1% (2021), 82.6% (2020) 85.3% (2019), 87.5% (2018), 71% (2017), 71% (2016) and 83% (2015).

Staffing: During the year the team changed with two new Christian Science nurses in training joining and the internal appointment to the new position of Manager of Christian Science Nursing Education. The team has continued to work very well. This consistency enables a high standard of care to be given to patients. Staff suggestions are encouraged and have resulted in some of the improvements listed in the maintenance section.

Patient Income including Aid Fund C.S. nursing fee grants (see note 3 on page 18): This was £395,920 in this financial year. Previous years were: £374,862 (2024), £396,092 (2023), £362,403 (2022), £288,930 (2021), £310,915 (2020), £305,295 (2019), £325,980 (2018), 214,093 (2017), £247,813 (2016) and £268,823 (2015).

Support from the Christian Science community (see note 2 on page 18): Donations and legacies in this financial year were £3,100,787 compared to £487,801 (2024), £484,675 (2023), £258,403 (2022), £245,838 (2021), £169,737 (2020), £535,206 (2019), £354,975 (2018), £426,371 (2017), £213,929 (2016) and £256,603 (2015).

Open Meetings : This was held at First Church of Christ, Scientist, Altrincham on 20[th] July 2024. The inspirational talk was given by Gay Bryant Flatt CS entitled ‘The kingdom within’.

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Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) (Continued) FOR THE YEAR ENDED 28 FEBRUARY 2025

Knole Park South Africa : Providing facility training at Lime Tree House for their Christian Science nurses continued with two visiting for training in the year. The Christian Science Nursing Manager and the Manager of Christian Science Nursing Education, together, visited Knole Park in September to give training there and met with the Board of the Christian Science Nursing Support Service, South Africa in Cape Town.

Maintenance & Improvements: The Solar Panels continue to reduce the amount of electricity purchased by 30% each year. The 2018 additional rooms in the roof space for staff accommodation and storage continue to be fully utilised, so much so that new space for the meeting room/training room function has needed to be provide in form of an external Garden Room, which was complete in March 2025. Projects over the last 4 years have resulted in all rooms having air conditioning (18 units), all six patient rooms having a ceiling hoist and three patient rooms having Vendlet turning systems (for patient bed care). An architect was employed to design the kitchen replacement and room alterations/upgrades for implementation in the next financial year.

Governance: Trustees and employees maintained “Continuing Professional Development” and kept up to date with changing legislation and work practices and skills. A new Strategic plan was developed for review in 2024.

Whitehaven Trust: Working together with their Visiting Christian Science Nursing Service and training their student Chrisian Science nurses was developed in the year.

Plans for future periods

Christian Science nursing care: The aims for the financial year ending 28 February 2026 are: to continue to find ways of improving our service and further develop our training for Christian Science nurses and to recruit new staff to replace those retiring. As of November 2025, one Christian Science nurse had retired and two Christian Science nurses in training had been recruited.

Maintenance & Improvements: The Garden Room for meetings and training was completed in March 2025 and operational in April 2025. The kitchen refurbishment and post covid building alterations were completed in November 2025. Replacement of commercial equipment planned for in the year are: a dishwasher, ironer, tumble dryer and washing machine. An additional commercial freezer is planned for the new kitchen. The replacement of all ground floor Low Surface Temperature radiators and their heat source are now planned for summer 2026. External & Internal redecoration is planned for 2026.

Governance: Trustees and employees to maintain “Continuing Professional Development” and keep up to date with changing legislation and work practices and skills. To complete the new Strategic Plan and issue to employees for their input.

Open Meetings: This was held at First Church of Christ, Scientist, Altrincham on 21[st] June 2025. The inspirational talk was given by Wendy Abdollahi Blumer (Director of Christian Science Nursing Education at Le Verger) entitled ‘’Truth the Universal Panacea”.

Knole Park South Africa: To continue providing facility training for their trainee Christian Science nurses at Lime Tree House at to visit Knowle Park to give training there.

Whitehaven Trust: To continue to develop working together with their Visiting Christian Science Nursing Service and training their student Chrisian Science nurses.

Public Benefit : Throughout planning the company’s past and future activities, the trustees kept in mind the Charity Commission’s guidance on the public benefit. The following are examples of this: the completed Meadows extension project, the Attic Conversion project, providing each patient room with a ceiling hoist and air conditioning unit and having 50% of patient rooms with a special bed that turns patients who need bed care.

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Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) (Continued) FOR THE YEAR ENDED 28 FEBRUARY 2025

Financial review

At 28 February 2025 the charity had reserves of £4,141,891; of which £69,681 was restricted. Overall reserves have increased in the year from 28 February 2024 when the charity had reserves of £1,643,337; of which £71,994 was restricted.

The principal funding sources are listed under Risk Management and how they support the charity’s key objectives is detailed under “Results” on page 5.

Reserves policy: Our aim is to hold free reserves amounting to at least six months running expenses (around £400,000) but hold more than this in order to have the ability to cope with fluctuating voluntary income or occupancy. The Trustees monitor this and have a strategy in place to increase the level of reserves, if necessary, which they implemented in late 2022. This strategy has resulted in a number of grants for specific purposes and a donation of £2,700,000.00 in January 2025.

Results: The details of the charity's income and expenditure for the year and its net assets at 28 February are on pages 11 and 12 of the accounts. The charity generated a net gain of £2,480,294 for the year (before investment adjustments) compared to £28,187 (2024), £108,099 (2023) and to losses of £59,486 (2022), £135,406 (2021), £168,985 (2020), surpluses of £211,159 (2019), £119,132 (2018) and £12,827 (2017), a loss of £169,539 (2016) and a surplus of £29,825 (2015).

The unrestricted funds of £3,027,945 (see note 15 on page 24) held at 28 February 2025 represent free reserves amounting to 48 months running expenses at average income levels, or 26 months running expenses with no unearned income. This is an increase of £2,520,338 on the fund held at 28 February 2024 of £507,607.

The charity holds restricted funds of £69,681 at 28 February 2025. This is a decrease of £2,313 on the previous year. £42,408 of this is for specific projects we aim to complete in 2026.

Income from donations and legacies (see note 2 on page 18): The charity requires donations and legacies each year to balance income and expenditure. This year it required £620,493 and received £3,100,787. The difference between these two figures accounts for the gain in the year.

Income from Charitable Activities (see note 3 on page 18): This has decreased by £35,756.

Expenditure on Charitable Activities (see note 5 on page 19): Expenditure increased by £130,106 in the year. £75,144 of this was due to employee costs; a) the pay rise on 1 March 2025, b) two Christian Science nurses in training, joining at the beginning of year and c) increased Christian Science nurses training time. The remaining £54,962 was due to increased general running costs, increased governance costs as well as specific building and equipment projects:

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Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) (Continued) FOR THE YEAR ENDED 28 FEBRUARY 2025

Investments: The charity’s investment objectives are to generate more return on the capital than it would generate in COIF or a high interest bank account whilst protecting the capital. The income generated is reinvested. The portfolio has been managed in line with our broker’s High Yield Collectives model which is low risk, but in May 2019 this was changed to their defensive lower risk model to protect the capital. The trustees meet quarterly with the broker. The portfolio continues to meet its objectives.

Risk management

The trustees review the major operational risks which the charity faces and confirm that systems are in place to mitigate these risks. Professional advisers are empowered to act on their behalf.

The principal risks and uncertainties have been referred to in other sections of this report and are beyond the direct control of the charity; they are income and staffing. Income falls into three areas a) donations and legacies, b) directly paid patient fees, c) external benevolent grants to patients towards their fees. The latter two depend on the variability of the level of patient demand, the level of their care needs and what they can reasonably afford to pay towards their care. The charity’s Reserves Policy is designed to mitigate these risks as it has done in the year to 28 February 2024 with the free reserve remaining over the £400,000 mark at £3,027,945

The global pandemic has been referred to in other sections of this report. It is however no longer a further principal risk. Whilst restrictions have been lifted, one patient room remains in use as a CS nurse shift change meeting room with good social distancing. Due to the current occupancy levels this does not impact on potential loss of income.

The charity actively promotes the recruitment and training of Christian Science nurses. It has policies and procedures in place to ensure a high standard of care and high compliance with regulations.

Small company provisions

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

Statement of Trustee’s Responsibilities

The Trustees, are responsible for preparing the Report of the Trustees Annual Report (including the strategic report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland”.

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the trustees 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

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Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) (Continued) FOR THE YEAR ENDED 28 FEBRUARY 2024

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

A resolution proposing that MHA be re-appointed will be put at a General Meeting.

Each of the persons who is a Trustee at the date of approval of this report confirms that:

November 27, 2025

Approved by the trustees on …………………………..

Signed by order of the trustees

............................................................................. Ruth S Kennedy: Chair of the Trustees

Registered office: Lime Tree House 264 Washway Road Sale Cheshire M33 4RZ

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Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES

FOR THE YEAR ENDED 28 FEBRUARY 2025

Opinion

We have audited the financial statements of Mountlands Trust Limited (the 'charity’) for the year ended 28 February 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including 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).

In our opinion the accompanying financial statements:

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 responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Trustees Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. The Trustees are responsible for the other information contained within the annual report. 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 course of 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 this gives rise to 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: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES (Continued) FOR THE YEAR ENDED 28 FEBRUARY 2025

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

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 Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Statement of Trustees’ Responsibilities statement on page 6, the trustees (who are also the directors of the charitable company for the purposes of company law) are 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 charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

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.

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:

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Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2025

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Other Matters

The comparative figures are unaudited as the charity was not in breach of the charity audit thresholds in the year ended 28[th] February 2024

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditors’ 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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Nicola Mason MHA (Cantab) ACA DChA

Senior Statutory Auditor For and on behalf of MHA, Statutory Auditor Richard House 9 Winckley Square Preston PR1 3HP

November 27, 2025

…………………………………

MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered OC455542)

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Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 28 FEBRUARY 2025

Note
Income:
Donations and legacies
2
Charitable activities
3
Investment income
4
Total income
Expenditure:
Expenditure on charitable activities
5
Total expenditure
Net incoming/(outgoing) resources before
other gains and losses
Unrealised gain (losses) on investments
Realised gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds:
Funds balance brought forward
Funds balance carried forward		 Unrestricted
funds
£
3,100,787
398,540
16,796		 Unrestricted
funds
£
3,100,787
398,540
16,796		 Restricted
funds
£
-
19,766
-		 Total
funds
2025
£
3,100,787
418,306
16,796		 Total funds
2024
£
487,801
454,062
11,813
3,516,123
1,033,516
1,033,516
2,482,607
17,297
963
2,500,867
-
2,500,867
1,571,343
4,072,210		 19,766
22,079
22,079
(2,313)
-
-
(2,313)
-
(2,313)
71,994
69,681		 3,535,889
1,055,595
1,055,595
2,480,294
17,297
963
2,498,554
-
2,498,554
1,643,337
4,141,891		 953,676
925,489
925,489
28,187
10,981
(2,231)
36,937
-
36,937
1,606,400
1,643,337

The charity has no recognised gains or losses other than the results for the year as set out above.

All of the activities of the Charity are classed as continuing.

The notes form part of these financial statements

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Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET

AS AT 28 FEBRUARY 2025

Note
Fixed assets
Tangible assets
8
Investments
9
Current assets
Debtors
10
Cash at bank
Creditors: amount falling due within
one year
11
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
Net assets
Funds
Restricted
14
Unrestricted
15
Designated
15
Total funds
16		 Unrestricted
funds
£
1,059,001
305,231
1,364,232
65,752
2,746,810
2,812,562
(104,584)
2,707,978
4,072,210
-
4,072,210
-
3,027,945
1,044,265
4,072,210		 Restricted
funds
£
27,273
-
27,273
-
42,408
42,408
-
42,408
69,681
-
69,681
69,681
-
-
69,681		 Total funds
2025
£
1,086,274
305,231
1,391,505
65,752
2,789,218
2,854,970
(104,584)
2,750,386
4,141,891
-
4,141,891
69,681
3,027,945
1,044,265
4,141,891		 Total funds
2024
£
1,108,104
288,556
1,396,660		 Total funds
2024
£
1,108,104
288,556
1,396,660
1,396,660
103,243
227,167
330,410
(83,733)
246,677
1,643,337
-
1,643,337
71,994
507,607
1,063,736
1,643,337

November 27, 2025

These accounts were approved and authorised for issue by the trustees on …………………………. and are signed on their behalf by:

………………………………………………….

Ruth S Kennedy: Chair of the Trustees

Company Registration Number: 00326093

The notes form part of these financial statements

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Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Cash flows from operating activities:
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Investment income
Purchase of tangible fixed assets
Purchase of fixed asset investments
Proceeds from sale of tangible fixed assets
Proceeds from the sale of fixed asset investments
Net cash provided by/(used in) investing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
Consisting of:
Cash in hand
Cash at bank
Total cash at bank and in hand
Net income/(expenditure) for the year
Investment income received
Losses/(profits) on disposal of tangible fixed assets
Losses/(gains) on investments
Depreciation of tangible assets
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities		 2025
£
2,550,277
16,796
(8,447)
(40,676)
1,840
42,261
11,774
2,562,051
227,167
2,789,218
84
2,789,134
2,789,218
2,498,554
(16,796)
1,410
(18,260)
27,027
37,491
20,851
2,550,277		 2024
£
13,497
11,813
(41,302)
(75,136)
-
65,256
(39,369)
(25,872)
253,039
227,167
64
227,103
227,167
36,937
(11,813)
1,230
(8,750)
27,490
(43,927)
12,330
13,497

-13-

Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Basis of preparation

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investments. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. The charity meets the definition of a public benefit entity under FRS102.

The financial statements are prepared in sterling which is the functional currency of the charity and are rounded to the nearest £1.

The particular accounting policies adopted by the trustees are described below. These policies have been consistently applied to all years presented unless otherwise stated.

Company status

The charity is a private company limited by guarantee incorporated in England and Wales, without share capital. The guarantors up to a total of £1 are the trustees of the company. The registered office is given in the company information on page 1.

Going concern

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements.

Following their assessment the trustees have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity’s ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

-14-

Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Investments

Investments are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of the asset as follows:

Debtors

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

Cash at bank and in hand

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

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

-15-

Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Income

All income is recognised in the statement of financial activities when the charity has entitlement to the funds, any performance conditions for receipt have been met, it is probable that the income will be received and the amount can be measured reliably. Where a claim for repayment of income tax has or will be made, such income is grossed up for tax recoverable. The following accounting policies are applied to income:

Donations are reported gross. Donation income to which the charity is entitled but which it has not received by the year end are included in incoming resources in the statement of financial activities and shown as debtors in the balance sheet.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution.

Nursing fees and other income from charitable activities is recognised upon provision of the service to which it relates. Grant income is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

Investment income is accounted for when receivable.

Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), no amounts are included in the financial statements for services donated by volunteers.

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

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The charity's operating costs include staff costs, premises costs and other related costs. All expenditure is classified as charitable expenditure in relation to the charity’s main activity of running Lime Tree House.

-16-

Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Governance costs

Governance costs incorporate the annual fees payable for the preparation of the accounts and external audit.

Funds

Where conditions are placed on the receipt of funding or it is received for a specific purpose, it is included within restricted funds. Where there are no conditions, the funding is included within unrestricted funds. Designated funds are the funds set aside by the trustees out of unrestricted funds for specific future purposes or projects.

Pension costs

The charity contributes to a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the SOFA.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions, it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

-17-

Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2025

2
Income from donations and legacies
Unrestricted income:
Legacies
Donations
Sub-total – unrestricted income
Restricted income:
Donations
3
Income from charitable activities
Unrestricted income:
Christian Science nursing fee grants
Christian Science nurses training grants
Christian Science nursing fees
Rest, study & supplies
Sub-total – unrestricted income
Restricted income:
Grants
4
Investment income
Interest receivable
Dividends receivable		 2025
£
39,439
3,061,348
3,100,787
-
3,100,787
2025
£
298,634
2,620
95,206
2,080
398,540
19,766
418,306
2025
£
7,447
9,349
16,796		 2024
£
67,164
420,637
487,801
-
487,801
2024
£
295,894
27,549
77,750
1,218
402,411
51,651
454,062
2024
£
3,903
7,910
11,813

All of the investment income received in this year and the comparative year was unrestricted.

-18-

Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 28 FEBRUARY 2025

5
Expenditure on charitable activities
Running of Lime Tree House – current year
Staff costs including training
Running costs
Depreciation including profit/(loss) on disposal
Investment management fees
Governance costs
Running of Lime Tree House – prior year
Staff costs including training
Running costs
Depreciation including profit/(loss) on disposal
Investment management fees
Governance costs
6
Staff costs and employee benefits
The aggregate payroll costs were:
Wages and salaries
Social security costs
Agency staff
Other pension costs		 Unrestricted
funds
£
754,397
237,992
26,124
3,658
11,345
1,033,516
Unrestricted
funds
£
687,236
201,213
26,057
3,380
3,000
920,886		 Restricted
funds
£
9,023
10,743
2,313
-
-
22,079
Restricted
funds
£
1,040
900
2,663
-
-
4,603
2025
£
631,875
55,591
9,852
55,390
752,708		 Total funds
2025
£
763,420
248,735
28,437
3,658
11,345
1,055,595
Total funds
2024
£
688,276
202,113
28,720
3,380
3,000
925,489
2024
£
543,046
46,265
9,213
47,314
645,838

Trustees’ expenses

During the year, four (2024: four) trustees have been reimbursed at a total of £3,091 (2024: £3,722) in relation to expenses incurred wholly in relation to charitable activities. No trustee has received any remuneration from the charity during either the current or the previous year.

Particulars of employees:

The company employs its own staff but uses a chef for relief work where necessary. No member of the company’s staff is remunerated by way of a salary in excess of £60,000.

-19-

Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2025

6 Staff costs and employee benefits (continued)

2025 2024
No No
Number of employed staff 21 20

The total employee benefits of the key management personnel of the charity for the year were £104,656 (2024: £102,255).

7 Net outgoing resources

2025 2024
£ £
Net outgoing resources for the year are stated after charging:
Auditor’s remuneration:

Audit of the financial statements of the company		 9,635 -

All other non – audit services		 1,980 3,000
Depreciation of owned fixed assets 27,027 27,490
Cost
At 1 March 2024
Additions
Disposals
At 28 February 2025
Depreciation
At 1 March 2024
Charge for the year
Disposals
At 28 February 2025
Net book value
At 28 February 2025
At 28 February 2024		 Property
Furniture &
equipment
£
£
1,223,550
124,074
-
8,447
-
(9,714)
1,223,550
122,807
159,814
80,921
19,471
7,252
-
(6,464)
179,285
81,709
1,044,265
41,098
1,063,736
43,153		 Motor
vehicles
£
850
-
-
850
773
20
-
793
57
77		 Computer
equipment
£
11,500
-
-
11,500
10,362
284
-
10,646
854
1,138		 Total
£
1,359,974
8,447
(9,714)
1,358,707
251,870
27,027
(6,464)
272,433
1,086,274
1,108,104

-20-

Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2025

9 Investment held as fixed assets

Investment held as fixed assets
Market value at 1 March 2024
Additions
Disposals proceeds
Realised investment gains/(losses)
Unrealised investment gains/(losses)
Value at 28 February 2025
Investments comprise the following:
Investment assets in the UK
Investment assets outside the UK
Market value at 28 February 2025
Historical cost at 28 February 2025		 2025
£
288,556
40,676
(42,261)
963
17,297
305,231
127,563
177,668
305,231
270,233		 2024
£
269,926
75,136
(65,256)
(2,231)
10,981
288,556
108,282
180,274
288,556
271,971

Investments are valued at closing bid values at the year-end as determined by the Charity’s investment managers, James Brearley & Sons. The investment managers work to the trustees’ investment policy which is established within the restrictions imposed by the Trustee Act 2000.

10 Debtors

Debtors
Prepayments and accrued income
Other debtors
11
Creditors: amounts falling due within one year
Trade creditors
Accruals		 2025
£
48,407
13,213
4,132
65,752
2025
£
89,844
14,740
104,584		 2024
£
94,699
4,412
4,132
103,243
2024
£
80,109
3,624
83,733

-21-

Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2025

12 Related party transactions

During the current year the company purchased one fixed asset from a related party. The purchase of £100 was at market value for the asset and has been fully paid in the year. No further transactions have occurred in the period, or in the prior year.

13 Pensions

The company historically operated two defined contribution schemes in respect of staff. One was closed on 31 December 2009, and a new scheme took its place on 1 January 2010. Five members transferred from the old scheme to the new scheme.

The schemes and their assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £55,390 (2024: £47,314). At the balance sheet date the company had outstanding contributions of £13,387 (2024: £5.541).

14 Restricted funds

Current year
Other grants received
The Meadows Project
Donation for training
Donation for boiler & painting
Building and other grants
Prior year
Other grants received
The Meadows Project
Trafford Staff Grants
Donation for training
Donation for staff
Donation for PPE
Building and other grants		 Balance at
1 March
2024
£
29,469
117
-
17,600
24,808
71,994
Balance at
1 March
2023
£
-
138
-
-
-
24,808
24,946		 Incoming
resources
£
-
-
19,766
-
-
19,766
Incoming
resources
£
32,111
-
40
1,000
18,500
-
51,651		 Outgoing
resources
£
(2,295)
(18)
(20,812)
-
-
(23,125)
Outgoing
resources
£
(2,642)
(21)
(40)
(1,000)
(900)
-
(4,603)		 Fund
transfer
£
-
-
1,046
-
-
1,046
Fund
transfer
£
-
-
-
-
-
-
-		 Balance at
28 February
2025
£
27,174
99
-
17,600
24,808
69,681
Balance at
28 February
2024
£
29,469
117
-
-
17,600
24,808
71,994

-22-

Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2025

14 Restricted funds (continued)

Other grants received

This relates to two grants received in the year in relation to the purchase of patient turning bed systems and air-con units. The prior year amounts related to a grant which was received in a previous year to purchase a patient turning bed system. The closing balance on this fund represents the carrying value of the assets held within fixed assets.

The Meadows Project

This fund represented the carrying value of the assets purchased with the funds received to spend on the building project, excluding the building itself and the work carried out on it which is in a separate designated fund as detailed in Note 15.

Donation for training

This donation was received to help with the costs of training Christian Science Nurses.

Donation for boiler & painting

This donation was received to help with boiler repair & painting costs.

Building and other grants

Two grants received which the remaining funds are to be used in relation to the refurbishment of the kitchen.

-23-

Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 28 FEBRUARY 2025

15
Unrestricted funds
Current year
Designated:
Property
General fund
Prior year
Designated:
Property
General fund		 Balance at
1 March
2024
£
1,063,736
1,063,736
507,607
1,571,343
Balance at
1 March
2023
£
1,063,774
1,063,774
517,680
1,581,454		 Incoming
resources
and gains
£
-
-
3,516,122
3,516,122
Incoming
resources
and gains
£
-
-
902,024
902,024		 Outgoing
resources
and losses
£
(19,471)
(19,471)
(994,738)
(1,014,209)
Outgoing
resources
and losses
£
(19,470)
(19,470)
(892,665)
(912,135)		 Fund
transfer
£
-
-
(1,046)
(1,046)
Fund
transfer
£
19,432
19,432
(19,432)
-		 Balance at
28 February
2025
£
1,044,265
1,044,265
3,027,945
4,072,210
Balance at
28 February
2024
£
1,063,736
1,063,736
507,607
1,571,343

Designated funds – property

This represents the carrying value of the property within the accounts.

-24-

Docusign Envelope ID: 440F7231-2671-46CF-A154-4A2C28EFF066

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2025

16 Analysis of net assets between funds

Unrestricted
£
Fund balances at 28 February 2025 are represented
by:
Tangible assets
14,736
Investments
305,231
Current assets
2,812,562
Current liabilities
(104,584)
3,027,945
Unrestricted
£
Fund balances at 28 February 2024 are represented
by:
Tangible assets
14,782
Investments
288,556
Current assets
288,002
Current liabilities
(83,733)
507,607		 Designated
£
1,044,265
-
-
-
1,044,265
Designated
£
1,063,736
-
-
-
1,063,736		 Restricted
£
27,273
-
42,408
-
69,681
Restricted
£
29,586
-
42,408
-
71,994		 Total
£
1,086,274
305,231
2,854,970
(104,584)
4,141,891
Total
£
1,108,104
288,556
330,410
(83,733)
1,643,337

17 Company Limited by Guarantee

Mountlands Trust Limited is a company limited by guarantee, without share capital. The guarantors up to a total of £1 are the trustees of the company.

The guarantors have confirmed that they will not seek repayment of the balance owed to them in preference to third party creditors.

-25-