2024-03-31-accounts

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STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

Registered Charity No: 227794 Registered Company No: 00407697 (England and Wales)

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

	Page no
Legal and Administrative details	1
Council of Management Report	2 – 10
Independent Auditors’ Report	11 – 14
Statement of Financial Activities	15 – 16
Balance Sheet	17
Cashflow Statement	18
Notes to the Financial Statements	19 - 36

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

LEGAL AND ADMINISTRATIVE DETAILS

Patrons	Mr T Waite CBE
	Mrs A Cottrell OBE
Vice Presidents	Mrs P Shephard MBE
	Mr B Dale FCIPD
Council of Management	Mr N Wells (Chairman)
	Mrs P Unwin (Vice Chairman)
	Mrs D Allaway (Treasurer)
	Mr R Clark
	Mrs B Clayson	(Appointed 16 January 2024)
	Dr P Garrod
	Mr A Hyner
	Ms S Toms
	Mr G Wallden	(Appointed 26 June 2024)
Key Management	Mr P Montgomery BSc, MA, MBA, MSc.	Chief Executive and Company Secretary
Personnel	Mrs R Richards MA, PGDip, Level 5	Director of Care (Seniors Homecare) &
	Leadership and Management Adult Social	Deputy Chief Executive
	Care
	Mr D John FCCA	Finance Director
	Mr J Cotterill RGN, DMS	Director of Care (Nursing & Therapy Service)
	Mrs H Taylor MSc, MCIPD, PGDip	HR Director
	Mrs K Jeal FdA, MinstF Dip	Director of Fundraising and Communications
Registered Company	00407697
number
Registered Charity	227794
number
Principal Address	Strode Park House
	Lower Herne Road
	Herne
	Herne Bay
	Kent CT6 7NE
Independent Auditor	Azets Audit Services
	5th Floor
	Ashford Commercial Quarter
	1 Dover Place
	Ashford
	Kent
	TN23 1FB
Bankers	Metro Bank PLC
	16 St. George's Street
	Canterbury
	Kent
	CT1 2SR
Solicitors	Pocock’s Solicitors of Whitstable
	First Floor (North)
	Gazette House
	Estuary View Business Park
	Whitstable
	Kent
	CT5 3SE

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT

FOR THE YEAR ENDED 31 MARCH 2024

The Council of Management, who are also directors, present herewith their annual report together with the audited financial statements for the year ended 31 March 2024. The Council of Management 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 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

OBJECTIVES AND ACTIVITIES

Mission statement

Strode Park Foundation (established 1946) is a Voluntary Organisation providing high quality services to meet the changing and individual needs of people with disabilities.

The philosophy of Strode Park Foundation, in keeping with this mission, is to enable people with disabilities and associated care needs to make choices for themselves and to support them in maintaining skills and independence throughout their lives. To achieve this mission Strode Park Foundation provides services tailored to meet the individual needs of people with disabilities.

Public Benefit

The Council of Management has considered the guidance on Public Benefit published by the Charity Commission and is satisfied that the Foundation's aims and objectives and current and planned activities comply with the Charity Commission's public benefit requirements. Listed below are the main activities of the Foundation, and how they comply with the Charity Commission's definition of public benefit.

How our activities deliver public benefit

Strode Park Foundation provides public benefit by promoting the advancement of health and by supporting those in need because of ill-health or disability. Public benefit is achieved through the provision of the following services:

Strode Park House

Registered under the Health and Social Care Act 2008 as a Care Home with Nursing, Strode Park House provides residential care and support for up to 55 permanent, respite and neuro rehabilitation clients.

The home has a suite of excellent therapy facilities including a physiotherapy gym, hydrotherapy pool and occupational therapy training kitchen.

The home is set in several acres of beautiful grounds with wheelchair accessible features for the recreation and pleasure of the residents.

Coach House

The Coach House is registered under the Health and Social Care Act 2008 as a Care Home for adults with disabilities and accommodates up to 9 permanent and respite clients with physical and/or learning disabilities. The home also provides independence training programmes.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT (Continued)

FOR THE YEAR ENDED 31 MARCH 2024

Footprints

Registered with CQC, Footprints provides residential care and support for up to 10 children or young adults with disabilities.

Platters Farm Lodge

Platters Farm Lodge is registered under the Health and Social Care Act 2008 and provides long-stay, respite and rehabilitation services for up to 43 adults. The home includes an eight bedroom specialist dementia unit.

Lady Dane Farmhouse

Lady Dane Farmhouse is registered under the Health and Social Care Act 2008 and provides residential care and support for up to 15 people with physical and or learning disabilities.

Supported Living

Strode Park Foundation has 5 supported living facilities (including the Coach House Mews, North Lodge, Woodside, Parkview, and the Lady Dane Annexe) which are available for individuals who do not require full residential care but who would benefit from some degree of staff support and fully wheelchair accessible accommodation.

The individuals staying in this accommodation can access appropriate, needs determined care and support from the ComCare team which is Strode Park Foundation’s CQC registered home care agency.

Day Opportunities

Based both at the Strode Park site and in the local community, the Day Opportunities service provides independence and life skills training for young adults and work experience programmes for people with physical and/or learning difficulties who live in the community. The service also offers physiotherapy, social activities and educational opportunities for both Strode Park residents and day clients referred by the NHS and social services and individuals in receipt of direct payments.

Theatre in the Park

The Foundation is the proud owner of a large and beautiful, purpose designed amphitheatre built in the grounds of Strode Park.

The Foundation is fortunate to be able to call on committed volunteers who assist with running the Theatre programme and cover marshalling responsibilities during performances.

Transport

The Foundation has 16 vehicles, including specially adapted cars and ambulances, these vehicles are used to take clients to and from the day opportunities services, and to take residents to appointments and out on trips.

Charity shops

Managed and staffed by dedicated volunteers, the Foundation runs a charity shop in Herne Bay. This shop makes an important contribution to Strode Park's income and can provide a valuable opportunity for training in a retail setting for the service users.

There were no material changes in the objectives of the Foundation during the year.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT (Continued)

FOR THE YEAR ENDED 31 MARCH 2024

ACHIEVEMENTS AND PERFORMANCE

Strategic Report

The year under review was extremely difficult for Strode Park Foundation and the financial losses, the impact on cashflow, and the required remedial actions are noted under the Financial Review and Plans for the Future sections of this report.

Nonetheless, 13 out of the 14 strategic objectives goals agreed by the Council of Management and set in the Business Plan for 2022/25 have either been achieved or significant progress has been made towards these goals. More precisely:

Despite the slip in regulatory ratings for Strode Park House and the Coach House in 2022, all the current registered services retained or regained ‘Good’ CQC ratings.
SPF set the target to reduce staff vacancies and to improve staff retention and implemented strategies to achieve these aims. One of these strategies was the implementation of a pay rise for Carers that was significantly above the rate of inflation. The outcome of these strategies has been impressive with the head count of direct employees increasing from 310 to 374 between April 2023 and March 2024.
Service users continue to play a role in some decision-making processes and each service remains committed to broadening and deepening service user involvement further.
The annexe at Lady Dane Farmhouse was converted into two supported living units for people with disabilities and the first tenancy was issued in 2024.
In 2022/23, SPF successfully tendered for a new Day Opportunities contract from Kent County Council (KCC). In 2023/24, SPF reviewed the financial viability of this contract and concluded that it remained worthwhile. KCC has subsequently sought a reduction in the fee rate which Strode Park was unable to accept. The funding for the day service remains a subject of negotiation between KCC and SPF.
Governance has been strengthened even further through the appointment of new members to the Council of Management each of whom has relevant commercial or social care knowledge and experience.
The digital transformation and upgrade has continued with further implementation of Person Centred Software (ecare planning system), Atlas (emedication administration system), and RotaMaster (roster management system).
The sale of the unused land at Redwalls was completed in 2022.
The objective of improving financial reserves was not achieved.
The ‘Register of Risk’ has been expanded and deepened and risk reduction and mitigation strategies have been strengthened. A member of the Council of Management has been assigned to lead on-going reviews and to submit regular reports.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT (Continued)

FOR THE YEAR ENDED 31 MARCH 2024

The Foundation has continued to initiate infrastructure improvements, most notably those required by changes in legislation or guidelines including post Grenfell fire detection and prevention system upgrades and essential electrical safety work.
The Foundation has continued with or introduced several Initiatives to enhance staff well-being. These have included expanding the role and membership of the staff council and offering a confidential counselling service.
It is difficult to ascertain whether voluntary income has been maximised, but it is clear that revenue from the Theatre in Park and the charity shop, together with receipts from grant giving trusts, individual and corporate donations, and legacies, continue to provide a valued and vital source of funds for the Foundation.
SPF has continued to promote and embed positive organisational values through the introduction of annual staff awards, in job adverts, in individual supervision, and during the initial induction and orientation training.

In addition to the above, all services achieved the top 5 star Environmental Health and Food Hygiene rating, the Foundation has achieved the advanced level NHS approved Certificate of Health and Safety Compliance (CHAS), and remains a ‘Disability Confident Committed’ organisation,

The above achievements could not have been secured without the backing of the local community and Strode Park Foundation is extremely proud to have been named the ‘Charity of the Year’ by the Lord Mayor of Canterbury (2024/25), Herne Bay FC (2024/25), and the Forrest of Blean Rotary Club (2023/24). This recognition is truly appreciated.

The Council of Management is immensely grateful for the generosity of all the local businesses and the many individuals who have supported the Foundation either through financial donations or by volunteering to support the work of the charity in so many ways, including at the charity shop and at the Theatre in the Park.

This continued support the Foundation is a vital component in the charity’s mission to provide services of the highest possible quality for people with disabilities.

FINANCIAL REVIEW

From a financial perspective, several factors combined to make 2023/24 an extremely challenging year resulting in a deficit of £1,676,148 (2023: Deficit of £6,846).

Total income before gains on the remeasurements of pension liabilities and the disposal of assets was £11,844,056 compared to £11,834,653 in 2022/23.

Fee uplifts from key funders fell well short of inflation increases in costs across the board.

Despite a CQC ratings improvement in April 2023 and a return to a ‘Good’ rating in June, the slip in the Strode Pak House rating published in January 2023 continued to have a detrimental impact on referrals and occupancy. This had a significant dampening impact on income throughout the year with occupancy, and thus revenue, not returning to close to budget levels until April 2024.

The timing of this reduction in income coincided with a necessity for both planned and unplanned increases in expenditure.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT (Continued)

FOR THE YEAR ENDED 31 MARCH 2024

The planned increase in expenditure related to a rise of approximately 22% in the basic hourly rate paid to carers. This increase was a key part of the Foundation’s business strategy and was a proactive response to the increasingly difficult social care labour market which both Skills for Care and the Care Quality Commission reported was characterised by an increase in staff vacancy and turn-over rates.

As planned, this increase in care worker salaries led to a significant reduction in expenditure on agency staff (down from £238,000 in May 2023, to £69,000 in May 2024). However, the rate of this reduction was slower than anticipated and, because of additional training requirements for new recruits, the increase in direct staff costs was more than initially anticipated. Nonetheless, this strategy has had a positive impact on the size and stability of the staff establishment with a consequent benefit to care practice in all Strode Park’s services and remains a key element of Strode Park Foundation’s on-going Human Resources strategy.

Additional above budget spending resulted from inflationary pressures in the energy market and in the cost of food. After staffing, these are two of the largest cost areas for residential care homes.

Further unplanned expenditure, some one-off and some recurrent, has been required to upgrade fire detection and prevention systems to meet new regulations introduced as a consequence of the Grenfell Tower tragedy.

A comprehensive and expensive upgrade to the electrical wiring system at Strode Park House was also required.

The operating loss combined with these required capital expenditures has had a major negative impact on cashflow.

At 31 March 2024, unrestricted funds were £182,547 which is a significant decrease on the £1,528,762 balance held at the end of 2022/23. The strengthening of the reserves remains a key aspect of Strode Park Foundation’s financial recovery plan noted below.

Performance of investments held

Income from investments during 2023/24 was £3,283 compared to returns of £1,726 in the previous year.

Fundraising activities

Strode Park Foundation employs a small Fundraising, Marketing and Public Relations team. During 2023/24 £50,975 was spent on staff salaries (2022/23 £54,913) whilst a total of £121,429 (2022/23: £222,453) was received in donations, charitable grants, fundraising activities, legacies or pledges.

£35,505 (2023: £125,000) of these receipts were legacies, £46,195 are the net receipts from Theatre in the Park and the Charity Shops, and the rest were donations and grants. This is a significant drop from the previous year which included any Covid related grants. The team deserve congratulations for raising these additional funds during the ‘cost of living’ crisis and for their successful efforts to build the public profile of Strode Park.

Tangible assets

The movement in tangible assets during the year is set out in note 13 to the financial statements.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT (Continued)

FOR THE YEAR ENDED 31 MARCH 2024

Investment policy

The Foundation's investment policy requires the Foundation to hold sufficient funds to meet all shortterm liabilities. The policy is reviewed annually. The governing document imposes no restrictions on investment powers.

Reserves policy

In accordance with the Charity Commission guidance, the Council of Management review on a regular basis the level of unrestricted reserves that it considers appropriate.

The Council of Management consider it appropriate to hold unrestricted reserves equivalent to at least one month's staff wages (plus on-costs) which for 2023/24 was in the region of £720,226 (2023: £755,000).

Total unrestricted funds at 31 March 2024 were £182,547 (2023: £1,528,762). As noted above this target was not achieved and the re-establishment of an appropriate level of free reserves will be a key strategic objective for 2024/25 and 2025/26.

Total reserves of the charity at 31 March 2024 were £4,970,958 (2023: £6,647,106) which included designated reserves of £4,639,334 (2023: £4,955,501) as set out in note 21 and restricted reserves of £149,077 (2023: £162,843) as set out in note 22.

Plans for the future

By necessity, Strode Park Foundation’s plans for the short and medium-term must focus on a return to profitability and a strengthening of cash reserves. The charity is determined that the strategies employed to achieve these goals will not undermine the high quality of care provided. To achieve these ambitions the Foundation’s plan for 2024/25 retains the following three key elements:

i) Service Improvements

The Foundation will continue to seek Good or Outstanding ratings from CQC for all regulated services and will endeavour to maintain the top 5 star environmental health award for all inspected services.

The Foundation will continue to develop and utilise the regular, independent quality assessments commissioned from Platinum Care and Ashton’s pharmacy (Strode Park House medication audits only).

As and when affordable, there will be continued investment to upgrade the buildings and equipment.

The Foundation will also seek to broaden and deepen service user involvement in decision making processes, especially in relation to staff recruitment.

ii) Improved Financial Performance

On the income side, high occupancy and activity levels remain vital to the financial performance of the Foundation and remain a key objective for all services.

The Foundation will also continue to press funders for fee increases that truly cover the cost of providing the appropriate level of care and which offset any inflationary increases.

On the cost-side, the management team will continue to analyse rotas to ensure that staff are deployed in the most cost-effective way to meet the needs of the clients.

Additional cost savings will also be explored with a focus on ensuring the best deals possible from energy and utility providers.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT (Continued)

FOR THE YEAR ENDED 31 MARCH 2024

The Foundation will also consider the practicalities and affordability of paying off the residual mortgages held against Strode Park House and Footprints.

In 2023, the Council of Management recognised the need to strengthen reserves and boost working capital and to this end made the difficult decision to close the Redwalls home and to sell the building.

It is pleasing to report that all six of the residents living at Redwalls were successfully accommodated elsewhere in the Foundation and that all members of the staff team were offered suitable redeployment opportunities.

It is anticipated that receipts from the sale of Redwalls will be secured by September 2024.

iii) Strengthening Staff Resources

As noted elsewhere in this report, and despite a national and local staffing crisis and in contrast to most social care providers, Strode Park Foundation was extremely successful in improving recruitment and retention rates in 2023/24.

The availability of strong, committed, and well-trained staff teams is the key to continuous improvement in the care services and Strode Park will continue to review its recruitment systems to ensure maximum efficiency.

In 2024, the Foundation will remain committed to providing an impressive level of in-house training for all staff members, including supporting a new cohort of Carers who wish to undertake training as Nurse Associates.

Employment of people with disabilities

As a registered charity providing care and support for people with disabilities, it is the Foundation's policy to employ service users and other persons with disabilities wherever and whenever possible. Strode Park Foundation is accredited as a Disability Confident Employer.

Principal risks and uncertainties

The Council of Management has a duty to identify and review the risks to which the Foundation is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Detailed considerations of risk are delegated to the Executive Committee, with advice from the Senior Management Team. Risks are identified, assessed and controls established throughout the year.

The present risks include:

Potential loss of funding from significant purchasers
Reputational damage resulting from non-compliance with regulatory requirements
Changes in legislation that have a detrimental financial impact (National Living Wage)
Diminished reserves limiting capacity to respond to unanticipated one-off events.
IT system failure leading to the loss of confidentiality, integrity, and availability of organisation’s information system
Epidemic / Pandemic affecting staff and residents

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT (Continued)

FOR THE YEAR ENDED 31 MARCH 2024

The key controls used by the Foundation to mitigate these identified risks include:

Formal agendas for Committee and Board activity.
Detailed terms of reference for Committees.
Comprehensive strategic planning, budgeting, and management accounting.
Quarterly Clinical Governance meetings and reporting cycle.
Established organisational structure and lines of reporting.
Formal written policies.
External Quality Assurance systems including CHAS and independent assessments from Platinum Care and Ashtons Pharmacy.
Clear and strengthened authorisation and approval levels.
Close and continuous monitoring of local provision environment to gain early insight into potential challenges and opportunities.

Whilst recognising that any risk identification and mitigation systems, including those noted above, can only provide reasonable but not absolute assurance, the Council of Management is satisfied that the risk management processes established for the Foundation identify and where possible adequately mitigated major risks.

Together with the senior management team, the Council will continue to review current arrangements with the objective of developing a more comprehensive and resilient risk register that supports greater depth of risk assessment and provides more detail of associated contingency plans.

Pay policy for key management personnel

The Council of Management consider the senior management team to be the key management personnel of the charity in charge of directing and controlling, running and operating the Foundation on a day-to-day basis. The pay of the senior staff is reviewed annually and is set in accordance with market rates and affordability.

However, all Council members give of their time freely and no Council member received remuneration in the year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Strode Park Foundation for People with Disabilities was incorporated as a company limited by guarantee and not having a share capital under the Companies Act 1948 on 4 April 1946.

Strode Park Foundation for People with Disabilities is a registered charity, number 227794 with effect from 9 January 1963 and is established under its Memorandum and Articles of Association dated 21 March 1946 as amended by special resolution on 20 May 2004.

The Foundation's governing body is the Council of Management. The responsibilities of the Council members are considerable and include a legal obligation to ensure that the Company and Charity are administered correctly within the law, as well as providing quality services to the many people with disabilities it seeks to support.

The Council of Management is assisted by an Executive Committee, whose members are the Chairman, Vice Chairman, and Treasurer of the Foundation plus two elected members from the Council. The Executive Committee meets more frequently than the Council of Management and takes a more active role in the management for the Foundation.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT (Continued)

FOR THE YEAR ENDED 31 MARCH 2024

Council of Management

The members of the Council of Management who served during the period were as follows:

Mr N Wells (Chairman) • Mr S Gadhia (Resigned 4 Jun 2023)
• Mrs P Unwin (Vice Chairman) • Dr P Garrod • Mrs D Allaway (Treasurer) • Mr A Hyner • Mr R Clark • Ms S Toms • Mrs R Clayson (Appointed 16 Jan 2024) • Mr G Wallden (Appointed 26 Jun 2024)

Appointment and recruitment of Council Members

The Council seeks to appoint new Members to the Council of Management (subject to the prescribed maximum number of members) who can bring a combination of relevant knowledge and skills and who have an interest in, and commitment to, the Mission of the Foundation. The Council, in consultation with the Chief Executive, brings forwards names of suitable and qualified people who can fill any existing vacancies on the Council for consideration by the Council.

Council of Management Responsibilities

Company law and the law applicable to charities in England and Wales requires the Council of Management to prepare financial statements for each financial year, which 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 the year.

In preparing those financial statements the Council of Management is required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP 2015 (FRS 102);
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume the charitable company will continue in business.

The Council of Management 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.

Disclosure of information to auditors

Each member of the Council of Management has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information.

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

By Order of the Council of Management

Mr Nicholas Wells, Chairman

Date: 27 November 2024

INDEPENDENT AUDITORS' REPORT TO THE COUNCIL OF MANAGEMENT OF STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

FOR THE YEAR ENDED 31 MARCH 2024

Opinion

We have audited the financial statements of Strode Park Foundation for People with Disabilities for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Charitable Balance Sheet, the Cash Flow Statement and the related notes. 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 financial statements:

give a true and fair view of the state of the charitable company’s affairs as at 31 March 2024, and of its incoming resources and application of resources, including its income and expenditure, 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 Companies Act 2006.

Basis of 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 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 other 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 Council of Management’s 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 Council of Management 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 Council of Management Annual Report, other than the financial statements and our auditor’s report thereon. The Council of Management 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.

INDEPENDENT AUDITORS' REPORT TO THE COUNCIL OF MANAGEMENT OF STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

FOR THE YEAR ENDED 31 MARCH 2024

Opinions on other matters prescribed by the Companies Act 2006

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

the information given in the Council of Managements’ report (incorporating the strategic report and the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the Council of Managements’ report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our 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 strategic report and the directors’ report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Council of Management

As explained more fully in the Council of Managements’ responsibilities statement set out on page 10, the Council of Management (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 Council of Management 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 Council of Management 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 Council of Management either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s 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.

Extent to which the audit was considered 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 and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

INDEPENDENT AUDITORS' REPORT TO THE COUNCIL OF MANAGEMENT OF STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

FOR THE YEAR ENDED 31 MARCH 2024

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

Extent to which the audit was considered capable of detecting irregularities, including fraud In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
Reviewing minutes of meetings of those charged with governance;
Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charitable company’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

INDEPENDENT AUDITORS' REPORT TO THE COUNCIL OF MANAGEMENT OF STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

FOR THE YEAR ENDED 31 MARCH 2024

Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation (ie. gives a true and fair view).

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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 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 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.

Michelle Wilkes FCA	Ashford Commercial Quarter
(Senior Statutory Auditor)	1 Dover Place
for and on behalf of Azets Audit Services	Ashford
Statutory Auditor	Kent
	TN23 1FB

Date: 5 December 2024

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
Note Unrestricted Restricted 2024 2023
Funds Funds Total Total
£ £ £ £
Income from:
Donations and legacies
Donations and legacies 2 51,497 24,568 76,065 188,476
Grants receivable 3 - - - 8,776
Charitable activities 4 11,520,556 - 11,520,556 11,361,459
Other trading income 5 178,308 - 178,308 237,357
Investment income - Bank interest 3,283 - 3,283 1,726
Other 6 65,844 - 65,844 36,859
Total 11,819,488 24,568 11,844,056 11,834,653
Expenditure on:
Raising funds 7 114,979 - 114,979 290,478
Charitable activities 7 13,375,334 29,891 13,405,225 11,827,410
Total 7 13,490,313 29,891 13,520,204 12,117,888
Revaluation gains on investments 15 - - - 276,389
Net (expenditure) / income (1,670,825) (5,323) (1,676,148) (6,846)
Transfers between funds 22 8,443 (8,443) - -
Other recognised gains / (losses):
Remeasurement gain/(loss) on defined
19 - - - 702,558
benefit pension scheme
Net movement in funds (1,662,382) (13,766) (1,676,148) 695,712
Reconciliation of funds:
Total funds brought forward 6,484,263 162,843 6,647,106 5,951,394
Total funds carried forward 4,821,881 149,077 4,970,958 6,647,106
----- End of picture text -----

All transactions are derived from continuing activities.

All recognised gains and losses are included in the Statement of Financial Activities.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
Comparative year information Note Unrestricted Restricted 2024
Year ended 31 March 2023 Funds Funds Total
£ £ £
Income from:
Donations and legacies
Donations and legacies 2 143,667 44,809 188,476
Grants receivable 3 2,000 6,776 8,776
Charitable activities 10 11,361,459 - 11,361,459
Other trading income 4 237,357 - 237,357
Investment income 1,726 - 1,726
Other 5 36,859 - 36,859
Total 11,783,068 51,585 11,834,653
Expenditure on:
Raising funds 7 290,478 - 290,478
Charitable activities 9 11,767,956 59,454 11,827,410
Total 6 12,058,434 59,454 12,117,888
Revaluation gains on investments 15 276,389 - 276,389
Net (expenditure) / income 1,023 (7,869) (6,846)
Transfers between funds 22 9,593 (9,593) -
Other recognised gains / (losses):
Remeasurement gain/(loss) on defined benefit pension
19 702,558 - 702,558
scheme
Net movement in funds 713,174 (17,462) 695,712
Reconciliation of funds:
Total funds brought forward 5,771,089 180,305 5,951,394
Total funds carried forward 6,484,263 162,843 6,647,106
----- End of picture text -----

All transactions are derived from continuing activities.

All recognised gains and losses are included in the Statement of Financial Activities.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

BALANCE SHEET

AS AT 31 MARCH 2024

----- Start of picture text -----
Company Number: 00407697 Note 2024 2023
£ £ £ £
Fixed assets
Tangible assets 13 5,187,617 5,603,037
Current assets
Stocks 23,889 23,911
Debtors 14 1,073,887 976,648
Investments 15 424,904 -
Cash at bank and in hand 495,460 1,808,442
2,018,140 2,809,001
Creditors: amounts falling due within
16 (1,516,542) (945,782)
one year
Net current assets 501,598 1,863,219
Total assets less current liabilities 5,689,215 7,466,256
Creditors: amounts falling due after
17 (713,692) (809,377)
more than one year
Defined benefit pension liability 19 (4,565) (9,773)
Total net assets 4,970,958 6,647,106
Funds
Unrestricted funds 182,547 1,528,762
Designated funds 21 4,639,334 4,955,501
Restricted funds 22 149,077 162,843
Total charity funds 23 4,970,958 6,647,106
----- End of picture text -----

The financial statements were approved and authorised for issue by the Council of Management and signed on its behalf by:

Mr N Wells Chairman

Date: 27 November 2024

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
Note 2024 2023
£ £ £ £
Cash flow from operating activities
Net cash used in operating activities 26 (781,259) (33,413)
Cash flow from investing activities
Purchase of fixed assets (380,583) (416,239)
Proceeds from the sale of fixed assets - 451,230
Investment Income 3,283 1,726
Financing costs (60,378) (39,137)
Net cash flow from investing
(437,678) (2,420)
activities
Cash flow from financing activities
Repayment of finance leases - (5,712)
Repayment of loans (94,045) (123,635)
Net cash flow from financing
(94,045) (129,347)
activities
Change in cash and cash equivalents
(1,312,982) (165,180)
in the year
Cash and cash equivalents at 1 April
2022 1,808,442 1,973,622
Cash and cash equivalents at 31
March 2023 29 495,460 1,808,442
Cash and cash equivalents consists of:
Cash at bank and in hand 495,460 1,808,442
Cash and cash equivalents at 31
March 2023 495,460 1,808,442
----- End of picture text -----

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

1.1 Basis of accounting

Strode Park Foundation for People with Disabilities is a registered charitable company in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities is to provide a residential/nursing home or homes for the maintenance and treatment of person who have a physical disability; to provide housing or any associated amenities for such persons; to provide care, support and ancillary amenities to residents of such homes and also to people with disabilities who live in the community; and where appropriate, rehabilitation and training to enable them to achieve employment, independent living and improved quality of life. In addition to relieve and provide support for the carers of people with disabilities who are themselves in need of such care by reason of any stress which they suffer arising from their care giving.

The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2 Fund accounting

Unrestricted general funds are funds which can be used in accordance with the charitable objects at the discretion of the Council of Management.

Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charitable company. Restriction arises when specified by the donor or when funds are raised for particular restricted purposes. Restricted donations for capital purchases are transferred to unrestricted funds when all conditions have been met.

Designated funds represent funds invested in fixed assets. The designated fund balance has been represented to ensure that the fund balance accurately reflects the designation policy adopted by the Council of Management.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies (continued)

1.3 Income recognition All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable.
Legacies: Pecuniary legacies are recognised as receivable once probate has been granted and notification has been received. Residuary legacies are recognised as receivable once probate has been granted, provided that sufficient information has been received to enable valuation of the charity's entitlement.
Care services and fees are included in the Statement of Financial Activities when receivable;
Grants, including grants for the purchase of fixed assets, are recognised in the Statement of Financial Activities in the year in which they are receivable;
Activities for generating funds are included in full in the Statement of Financial Activities when receivable;
Holiday lettings is included in the Statement of Financial Activities in the year in which it is receivable. Monies are refundable up to one month in advance of the booking date;
Shop income is accounted for when received;
Investment income is included when receivable.
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.

1.4 Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Costs of generating funds are those costs incurred in attracting voluntary income.
Charitable expenditure comprises those costs incurred by the charitable company in the delivery of its activities and services for beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charitable company.
Support costs have been allocated on the basis of time, with the exception of general costs, which are allocated on a usage basis.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies (continued)

1.5 Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Head Office. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Other costs have been allocated on the basis of staff time spent.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

The analysis of these costs is included in note 9.

1.6 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Expenditure on items below £1,000 is not capitalised. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Freehold land	Not depreciated
Freehold buildings	Over 50 years straight line
Green Room	Over 50 years straight line
Bungalows	Over 50 years straight line
Building improvements	3-15 years straight line
Assets under construction	Not depreciated until asset is in use
Computers	33.33% straight line
Motor vehicles	25% reducing balance
Furniture and Fittings	25% straight line
Sensory Room	20% straight line
Grounds, drives and parks	15% straight line

In accordance with Financial Reporting Standard 102, an annual impairment review is undertaken to ensure that any diminution in value of the properties below net book value is adjusted in the accounts.

The Council of Management is of the opinion that the market value of the land alone is considerably in excess of the value of the land and buildings stated together in the Balance Sheet at £4,484,785 (2023: £4,939,597). The insured replacement value of the building is now in excess of £25,000,000 but it is felt that the expense of obtaining professional valuations of the property would not be justified.

1.7 Current asset investments

Investments represent charity assets which are on the open market for resale and are valued at the cost.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies (continued)

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. Stock does not include the value of goods donated for sale in the charity's shop.

1.9 Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

1.10 Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

1.11 Deferred income

The company granted a lease of certain parts of its land to the WOHT (now Sanctuary Housing Association) for a period of 65 years from 12 May 1983 for a net sum, after costs, of £34,688. £534 is credited to income during each year until 11 May 2048.

1.12 Leasing commitments

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the SoFA so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.13 Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies (continued)

1.14 Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates two defined contribution schemes and no additional liability arises other than payments to the pension scheme, which are charged as expenditure in the year in which they are incurred.

The Foundation contributes to the Kent Pension Fund within the Local Government Pension Scheme (LGPS), a multi-employer defined benefit pension scheme, on behalf of certain employees whose employment was transferred from Medway Council as part of the Transfer Agreement under the Transfer of Undertakings (Protection of Employment) Regulations 2006

The LGPS is a funded multi-employer scheme and the assets are held separately from those of the Academy Trust in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The amounts charged to operating surplus are the current service costs and the costs of scheme introductions, benefit changes, settlements and curtailments. They are included as part of staff costs as incurred. Net interest on the net defined benefit liability/asset is also recognised in the statement of financial activities and comprises the interest cost on the defined benefit obligation and interest income on the scheme assets, calculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised in other recognised gains and losses. Actuarial gains and losses are recognised immediately in other recognised gains and losses.

Actuarial gains and losses are recognised immediately in other recognised gains and losses.

1.15 Going concern

The Council of Management has reviewed the Strode Park Foundation’s financial position and consequently believes that there are sufficient resources to manage any reasonable financial and operational risks. The Council of Management have considered the level of funds held and the projected level of income and expenditure for 12 months from the date of approval of these financial statements. The Council of Management approved a budget for 2024/25 and have considered key challenges facing Strode Park Foundation and the wider care sector in which it operates. The adverse effect of the previous sanction at Strode Park House on our liquidity has been considered when preparing the current year's budget and our bankers continue to support us through an agreed overdraft facility to cushion us against any short term unexpected cash shortall. Contingency plans are in place which can offset any unexpected events. For these reasons, the Council of Management continues to adopt the going concern basis of accounting in preparation of the financial statements.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies (continued)

1.16 Judgements and key sources of estimation uncertainty

Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Foundation makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 12 for the carrying amount of the property plant and equipment and note 1.7 for the useful economic lives for each class of assets.

LGPS

The present value of the Local Government Pension Scheme defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost (income) for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 19, will impact on the carrying amount of the pension liability. Furthermore, a roll forward approach which projects results from the latest full actuarial valuation performed at 31 March 2019 has been used by the actuary in valuing the pensions liability at 31 March 2023. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension liability.

The Pension Trust

The present value of The Pension Trust (Growth Plan) defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost (income) for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 19, will impact the carrying amount of the pension liability. Furthermore a roll forward approach which projects results from the latest full actuarial valuation performed at 30 September 2020 has been used by the actuary in valuing the pensions liability at 31 March 2023. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension liability.

Bad debt provision

The value of trade debtors is sensitive to the recoverability in full of any invoices issued to each customer. Once the debt becomes overdue it is chased and periodically reviewed to ensure it is recoverable in full. If a provision is deemed necessary this is included on an annual basis.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
2 DONATIONS AND LEGACIES 2024 2023
£ £
Donations 38,783 61,118
Gift aid 946 582
Appeals 831 1,776
Legacies 35,505 125,000
76,065 188,476
3 GRANTS RECEIVABLE 2024 2023
£ £
Grants from institutions
The Hospital Saturday Fund - 2,000
Kent County Council - 6,776
- 8,776
4 CHARITABLE INCOME 2024 2023
£ £
Residential Care 10,447,803 10,356,131
Day Opportunities 283,064 209,166
Community care 789,689 796,162
11,520,556 11,361,459
5 OTHER TRADING INCOME 2024 2023
£ £
Income from shops 27,833 56,832
Accommodation rentals 80,488 156,640
Events income 69,987 23,885
178,308 237,357
6 OTHER INCOME 2024 2023
£ £
Client and other recharges 51,344 30,209
Other 14,500 6,650
65,844 36,859
7 EXPENDITURE 2024 2023
Staff Direct Support
Costs Costs Costs Total Total
£ £ £ £ £
Costs of raising funds 50,975 57,604 6,400 114,979 290,478
Charitable activities:
Care service 8,030,192 2,940,991 1,810,939 12,782,122 10,911,765
Supported living 398,708 9,451 52,515 460,674 645,281
Day services 148,986 2,724 10,719 162,429 270,364
8,628,861 3,010,770 1,880,573 13,520,204 12,117,888
----- End of picture text -----

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
8 COSTS OF RAISING FUNDS 2024 2023
£ £
Charity shops 3,684 29,137
Theatre in the Park 38,869 55,188
Fundraising 15,051 81,988
57,604 166,313
9 SUPPORT COSTS 2024 2023
£ £
Vehicle expenses 67,232 69,886
Insurance 147,533 151,182
General office costs 61,840 58,968
Human Resources 87,584 143,477
Finance and payroll 13,160 7,002
Information Technology 236,909 247,734
Facilities Management 737,055 710,550
CQC and other licence costs 25,976 27,030
Depreciaition 371,099 319,278
Bank charges and interest 81,976 76,526
Professional fees 27,052 35,198
Governance:
Audit fees 23,157 15,045
1,880,573 1,861,876
10 NET INCOME
2024 2023
Net expenditure is stated after charging: £ £
Depreciation of tangible fixed assets 371,099 319,278
Auditors' remuneration
- audit 20,400 16,090
- under / over provision 2,757 (1,045)
Loss on disposal of fixed assets - 4,466
Rentals under operating leases 50,686 24,425
----- End of picture text -----

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
11 EMPLOYEES
2024 2023
Employment costs £ £
Wages and salary costs 7,749,132 6,260,522
Social Security costs 634,610 519,352
Pension contributions 216,333 196,442
Apprenticeship levy 28,786 16,882
8,628,861 6,993,198
Employee numbers
The average number of employees, by headcount, during the year was: 2024 2023
no. no.
Carers 200 162
Nurses 15 15
Ancillary 45 48
Day care / Lifestyles 51 40
Admin 27 29
Therapy 3 3
Senior Management 6 7
Registered Home Managers 6 6
353 310
Higher paid staff
The number of employees whose emoluments as defined for taxation 2024 2023
purposes, amounted to over £60,000 in the year was as follows: no. no.
£60,001 - £70,000 2 1
£80,001 - £90,000 - 1
£90,001 - £100,000 1 -
----- End of picture text -----

The cost of the pension contributions in respect of employees earning in excess of £60,000 per annum amounted to £22,723 (2023 - £15,628).

Key management personnel

The senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the Foundation on a day to day basis. The remuneration to the employees, including employers pension contributions and employer's national insurance contributions, total £454,829 (2023: £438,084).

12 COUNCIL OF MANAGEMENT REMUNERATION AND BENEFITS

There were no Council of Managements' remuneration, expenses or other benefits paid for the year ended 31 March 2024 (2023: £Nil).

During the year, the charitable company paid £2,675 (2023: £2,675) for the purchase of insurance to protect the charitable company from loss arising from the neglect or default to its Council of Management, employees and agents.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
13 TANGIBLE FIXED ASSETS
Furniture,
Freehold fittings and Cars, coach
land and Freehold computer and
buildings improvmnts equipment ambulance Total
£ £ £ £ £
Cost
As at 1 April 2023 5,569,826 1,443,474 2,071,928 154,412 9,239,640
Additions 70,014 194,615 115,954 - 380,583
Reclassification (451,389) (1,945) (1,020) - (454,354)
At 31 March 2024 5,188,451 1,636,144 2,186,862 154,412 9,165,869
Depreciation
As at 1 April 2023 630,229 1,158,786 1,733,974 113,614 3,636,603
Charge for year 101,255 101,464 158,181 10,199 371,099
Reclassification (27,778) (843) (829) - (29,450)
At 31 March 2024 703,706 1,259,407 1,891,326 123,813 3,978,252
Net book values
At 31 March 2024 4,484,745 376,737 295,536 30,599 5,187,617
At 31 March 2023 4,939,597 284,688 337,954 40,798 5,603,037
14 DEBTORS 2024 2023
£ £
Trade debtors 253,433 133,507
Other debtors 313,490 313,327
Prepayments and accrued income 506,964 529,814
1,073,887 976,648
Amounts falling due after more than one year and included above are: 2024 2023
£ £
Other debtors 268,000 268,000
15 CURRENT ASSET INVESTMENTS 2024 2023
£ £
-
Value brought forward 173,611
Reclassified from Tangible Fixed Assets 424,904
-
Disposals (450,000)
-
Gain on disposal 276,389
424,904 -
----- End of picture text -----

Current asset investments represented the charity’s freehold land and buildings which was on the market for sale in 2024.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

16
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
£
Bank loans and overdrafts
111,378
Trade creditors
386,964
Other taxes and social security
334,675
Other creditors
102,383
Accruals and deferred income
581,142
1,516,542
The bank overdraft is secured by a charge over certain freehold properties, see note 17.
17
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
£
Bank loans
700,340
Deferred income
13,352
713,692
Bank loans
2024
£
Within one year
111,378
In two to five years
224,881
After more than five years
475,459
811,718

2023
£
109,738
129,787
102,102
62,458
541,697
945,782
2023
£
796,025
13,352
809,377
2023
£
109,738
289,292
506,733
905,763

The charity has three loans in existence, repayable as follows:

Business loan - £114,971 repayable by 1 September 2025 at an interest rate of 1.25%. The loan is secured by a charge over the freehold deeds to the Coach House and North Lodge, and a debenture given by the Foundation.

Business loan - £91,672 repayable by August 2031 at an interest rate of 1.25% above base. The loan is secured by a legal mortgage over the freehold deeds to Footprints.

Commercial mortgage - £699,133 repayable by November 2038 at an interest rate of 2.45% above base. The loan is secured by a legal mortgage and charge over the Lady Dane Farmhouse, Love Lane, Faversham.

18 DEFERRED INCOME

Deferred income is included within: Creditors due within one year Creditors due after more than one year Deferred income at 1 April Released from previous years Resources deferred in the year Deferred income at 31 March	280,127 13,352 293,479 295,414 (282,062) 280,127 293,479	282,062 13,352 295,414 302,830 (289,478) 282,062 295,414

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

19 PENSION AND OTHER POST-RETIREMENT BENEFIT COMMITMENTS

The Foundation's employees belong to two principal pension schemes, both of which are multi-employer defined benefit schemes:

TPT Retirement Solutions Growth Fund (formerly The Pensions Trust Growth Fund); and
The Local Government Pension Scheme (LGPS) for non-teaching staff, which is managed by Kent County Council

The latest actuarial valuation of the Pensions Trust Growth Fund related to the period ended 30 September 2020 and of the LGPS 31 March 2019.

Pension contributions amounting to £508 (2023: £30,340) were unpaid at 31 March 2024.

Note SCHEME: The Pensions Trust – The Growth Plan 19.1 Kent County Council Pension Fund 19.2	2024 £ 4,565 - 4,565	2023 £ 9,773 - 9,773

19.1 SCHEME: The Pensions Trust – The Growth Plan

Strode Park Foundation participates in the scheme, a multi-employer scheme which provides benefits to some 638 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2022 to 31 January 2025: £3,312,000 per annum (payable monthly)

Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies.

Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as follows: From 1 April 2019 to 30 September 2025: £11,243,000 per annum (payable monthly and increasing by 3% each on 1 April.)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

19 PENSION AND OTHER POST-RETIREMENT BENEFIT COMMITMENTS (Continued)

19.1 SCHEME: The Pensions Trust – The Growth Plan (Continued)

----- Start of picture text -----
||||| |---|---|---|---| |Present values of provision|2024|2023|2022| |£|£|£| |Present value of provision|4,565|9,773|15,331| |Reconciliation of opening and closing provisions|2024|2023| |£|£| |Provision at start of period|9,773|15,331| |Unwinding of the discount factor (interest expense)|374|288| |Deficit contribution paid|(5,585)|(5,585)| |Remeasurements - impact of any change in assumptions|3|(261)| |Provision at end of period|4,565|9,773| |Income and expenditure impact|2024|2023| |£|£| |Interest expense|374|288| |Remeasurements – impact of any change in assumptions|3|(261)| |Costs recognised in income and expenditure account|377|27| |Assumptions|2024|2023|2022| |% per annum|% per annum|% per annum| |Rate of discount|5.31|5.52|2.35|

----- End of picture text -----

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

----- Start of picture text -----
||||| |---|---|---|---| |Deficits contribution schedule|2024|2023|2022| |£|£|£| |Year 1|4,654|5,585|5,835| |Year 2|-|4,654|5,585| |Year 3|-|-|4,654|

----- End of picture text -----

The company must recognise a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the period in which it arises.

It is these contributions that have been used to derive the company's balance sheet liability.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

19 PENSION AND OTHER POST-RETIREMENT BENEFIT COMMITMENTS (Continued)

19.2 SCHEME: Kent County Council Pension Fund

The LGPS is a funded defined benefit pension scheme, with the assets held in separate trustee-administered funds. The total contribution made for the year ended 31 March 2024 was £47,770 (2023: £45,357), of which employer’s contributions totalled £33,855 (2023: £36,215) and employees’ contributions totalled £13,915 (2023: £9,142). The minimum contribution rates for future years are 27.5 per cent for employers and between 5.5 per cent and 7.5 per cent for employees.

Principal actuarial assumptions Rate of increase in salaries Rate of increase in pension payment Discount rate Inflation assumption - CPI	2024 % 3.90 2.90 4.90 2.90	2023 % 3.90 2.90 4.80 2.90

The current mortality assumptions include sufficient allowance for future improvements in mortality rates. This has been updated to use the latest version of the Continuouse Mortality Investigaton's model, CMI_2020 which was released in March 2021. The assumed life expectations on retirement age 65 are:

Retiring today Males Females Retiring in 20 years Males Females The Foundation's share of the assets in the scheme were: Equities Bonds Property Gilts Other assets Target return portfolio Infrastructure Total market value of assets	2024 20.80 23.30 22.00 24.70 2024 £ 1,981,000 490,000 306,000 250,000 54,000 172,000 153,000 3,406,000	2023 21.10 23.50 22.30 25.00 2023 £ 2,182,000 449,000 341,000 19,000 61,000 250,000 116,000 3,418,000

For accounting years beginning on or after 1 January 2015, the expected return and the interest cost has been replaced with a single net interest cost, which will effectively set the expected return equal to the discount rate.

Amount recognised in the Statement of Financial Activities Current service cost Net interest cost Administration expenses Total operating charge	2024 £ 40,000 (27,000) 3,000 16,000	2023 £ 64,000 17,000 2,000 83,000

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

19 PENSION AND OTHER POST-RETIREMENT BENEFIT COMMITMENTS (Continued)

19.2 SCHEME: Kent County Council Pension Fund (Continued)

At 1 April Current service cost Interest cost Change in financial assumptions Change in demographic assumptions Experience loss/(gain) on defined benefit obligation Estimated benefits paid Contributions by Scheme participants At 31 March Changes in the fair value of academy’s share of scheme assets: At 1 April Interest on assets Return on assets less interest Other actuarial gains/(losses) Administration expenses Employer contributions Contributions by Scheme participants Estimated benefits paid Asset not recognised At 31 March Changes in the present value of defined benefit obligations were as follows:	2024 £ 2,884,000 40,000 134,000 (40,000) (37,000) 9,000 (184,000) 10,000 2,816,000 2024 £ 2,884,000 161,000 (35,000) - (3,000) 39,000 10,000 (184,000) (56,000) 2,816,000	2023 £ 4,147,000 64,000 106,000 (1,499,000) (63,000) 250,000 (130,000) 9,000 2,884,000 2023 £ 3,450,000 89,000 (45,000) 10,000 (2,000) 37,000 9,000 (130,000) (534,000) 2,884,000

20 COMPANY STATUS

The company is limited by guarantee and has no share capital. The liability of the members in the event of winding-up is limited to £1 per member.

21 DESIGNATED FUNDS *Current year - 2023-2024* Pension bond (see note 14) Performance bond (see note 14) Fixed asset reserve Defined benefit pension funds COMPARATIVE YEAR *Prior year - 2022-2023* Pension bond (see note 14) Performance bond (see note 14) Fixed asset reserve Defined benefit pension funds	At 1 April 2023 £ 244,000 24,000 4,697,274 (9,773) 4,955,501 At 1 April 2022 £ 374,000 24,000 4,482,269 (712,331) 4,167,938	New designations £ - - - 5,208 5,208 New designations £ - - 215,005 702,558 917,563	Designations released £ - - (321,375) - (321,375) Designations released £ (130,000) - - - (130,000)	At 31 March 2024 £ 244,000 24,000 4,375,899 (4,565) 4,639,334 At 31 March 2023 £ 244,000 24,000 4,697,274 (9,773) 4,955,501

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

21 DESIGNATED FUNDS (Continued)

Pension bond

This fund represents a separate bank account set aside to offset the liability of the LGPS. This is included in debtors (see note 14).

Performance bond

This fund represents funds set aside for the duration of the Platters Farm Lodge contract. This is held by Medway Council. This is included in debtors (see note 18).

Fixed asset reserve

This fund represents the depreciated value of the tangible fixed asset assets of the Foundation less the bank loans and finance lease obligations. These funds are represented by capital assets used within the organisation, but do not represent working capital for day-to-day operations.

Defined benefit pension funds

The designated fund for pension reserve is that part of unrestricted funds that represents the pension scheme liabilities.

22 RESTRICTED RESERVES

*Current year - 2023-2024* Coach House Mews Footprints and Redwalls COVID-19 grants Fire Doors Other funds *Prior year - 2022-2023* Coach House Mews Footprints and Redwalls Lady Dane Farmhouse Residents chairs Strode Park House/Coach House COVID-19 grants Nursing grants Other funds	At 1 April 2023 £ 83,196 29,288 6,776 - 43,583 162,843 At 1 April 2022 £ 84,863 48,898 1,575 8,000 - 8,333 28,636 180,305	Income £ - 1,060 - 18,500 5,008 24,568 Income £ - 514 - - 6,776 - 44,295 51,585	Expenditure £ - (24,914) - - (4,977) (29,891) Expenditure £ - (14,724) (1,575) (8,000) - (8,333) (26,822) (59,454)	Transfers £ (1,667) - (6,776) - - (8,443) Transfers £ (1,667) (5,400) - - - - (2,526) (9,593)	At 31 March 2024 £ 81,529 5,434 - 18,500 43,614 149,077 At 31 March 2023 £ 83,196 29,288 - - 6,776 - 43,583 162,843

Coach House mews

This funds represents the grant of a lifetime lease of the Coach House Mews from 1 March 2013. The fund is being released over 60 years.

Footprints and Redwalls

This fund represents monies received in respect of the two registered homes, Footprints and Redwalls, which is to be used for the benefit of the children and young adults using these facilities.

Lady Dane Farmhouse Residents chairs

A fund created to purchase specialised comfortable chairs for the residents.

Strode Park House/Coach House

This fund represents funds received from a former employee to be spent on Strode Park House or Coach House.

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

22 RESTRICTED RESERVES (Continued)

National Lottery Community Fund

This fund represents funding from the Coronavirus Community Support Fund, distributed by The National Lottery Community Fund. It will help us to make sure our Day Opportunities service can continue in the future, with the money going towards the financial challenges we have faced and struggled with during the pandemic.

Fire Doors

This fund represents a donation to be spent on Fire Doors at the Lady Dane Farmhouse.

COVID-19

This fund represents various grants received to assist with the COVID-19 pandemic and infection control.

Nursing grants

This fund represents grants received to assist in the training of nurse aprentices.

Other funds

This fund represents various small grants/donations which have a specified purpose, and which have not been expended at the end of the financial year.

Transfers between funds

Transfers between funds represent either the purchase of capital purchases from restricted income where the restriction is removed upon acquisition or projects which are now completed where costs were incorrectly allocated to unrestricted in prior years.

23 ANALYSIS OF NET ASSETS BETWEEN FUNDS

*Current year - 2023-2024* Fixed assets Current assets Current liabilities Long term liabilities Defined benefit pensions *Prior year - 2022-2023* Fixed assets Current assets Current liabilities Long term liabilities Defined benefit pensions	Unrestricted funds £ - 1,601,063 (1,405,164) (13,352) - 182,547 Unrestricted funds £ - 2,378,158 (836,044) (13,352) - 1,528,762	Designated funds £ 5,187,617 268,000 (111,378) (700,340) (4,565) 4,639,334 Designated funds £ 5,603,037 268,000 (109,738) (796,025) (9,773) 4,955,501	Restricted funds £ - 149,077 - - - 149,077 Restricted funds £ - 162,843 - - - 162,843	Total funds £ 5,187,617 2,018,140 (1,516,542) (713,692) (4,565) 4,970,958 Total funds £ 5,603,037 2,809,001 (945,782) (809,377) (9,773) 6,647,106

24 OPERATING LEASE COMMITMENTS

Total future minimum lease payments under non-cancellable operating leases are as follows:

Other operating leases Within one year Between two and five years	2024 £ 58,627 64,663 123,290	2023 £ 56,959 117,017 173,976

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

25 RELATED PARTY TRANSACTIONS

Mr R Clark, a member of the Council of Management is also a director of Clark Design Ltd. During the year, Strode Park Foundation for People with Disabilities, paid Clark Design Ltd £nil (2023: £11,221) in respect of work undertaken during the year.

Mr Clayson, who is the spouse of a trustee, is employed by the charity as the Facilities Manager. His appointment was made in open competition and his respective spouse was not involved in the decision-making process regarding appointment. The Facilities Manager is paid within the normal pay scale for their role and does not receive special treatment as a result of their relationship to a trustee.

26 RECONCILIATION OF NET INCOME TO NET CASH INFLOW FROM OPERATING ACTIVITIES

Net expenditure for the year Adjustments for: Depreciation charges Investment income Financing costs Gain on disposal of fixed assets (Increase) / Decrease in stocks (Increase) / Decrease in debtors Decrease / (Increase) in creditors Contributions to LGPS from provisions Net cash inflow from operating activities 27 RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN (Decrease)/Increase in cash Repayment of other loan Movement in net debt Net debt at 1 April Net debt at 31 March 28 ANALYSIS OF NET DEBT At 1 April 2023 £ Cash at bank and in hand 1,808,442 Debt due within one year (109,738) Debt due after one year (796,025) (905,763) 902,679	NET FUNDS Cash flow £ (1,312,982) 94,045 - 94,045 (1,218,937)	2024 £ (1,676,148) 371,099 (3,283) 60,755 - 22 (63,662) 535,543 (5,585) (781,259) 2024 £ (1,312,982) 94,045 (1,218,937) 902,679 (316,258) Non-cash changes £ - (95,685) 95,685 - -	2023 £ (6,846) 319,278 (1,726) 39,137 (271,923) (2,235) 69,005 (178,103) - (33,413) 2023 £ (165,180) 123,636 (41,544) 944,223 902,679 At 31 March 2024 £ 495,460 (111,378) (700,340) (811,718) (316,258)

29 POST BALANCE SHEET EVENTS

Contracts have been exchanged to sell freehold land and buildings at a valuation of £600,000. The Freehold Land and Buildings have been reclassified as current asset investments (Note 15)

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

CONTENTS

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

LEGAL AND ADMINISTRATIVE DETAILS

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT

FOR THE YEAR ENDED 31 MARCH 2024

OBJECTIVES AND ACTIVITIES

Mission statement

Public Benefit

How our activities deliver public benefit

Strode Park House

Coach House

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT (Continued)

FOR THE YEAR ENDED 31 MARCH 2024

Footprints

Platters Farm Lodge

Lady Dane Farmhouse

Supported Living

Day Opportunities

Theatre in the Park

Transport

Charity shops

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT (Continued)

FOR THE YEAR ENDED 31 MARCH 2024

ACHIEVEMENTS AND PERFORMANCE

Strategic Report

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT (Continued)

FOR THE YEAR ENDED 31 MARCH 2024

FINANCIAL REVIEW

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT (Continued)

FOR THE YEAR ENDED 31 MARCH 2024

Performance of investments held

Fundraising activities

Tangible assets

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT (Continued)

FOR THE YEAR ENDED 31 MARCH 2024

Investment policy

Reserves policy

Plans for the future

i) Service Improvements

ii) Improved Financial Performance

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT (Continued)

FOR THE YEAR ENDED 31 MARCH 2024

iii) Strengthening Staff Resources

Employment of people with disabilities

Principal risks and uncertainties

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT (Continued)

FOR THE YEAR ENDED 31 MARCH 2024

Pay policy for key management personnel

STRUCTURE, GOVERNANCE AND MANAGEMENT

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

REPORT OF COUNCIL OF MANAGEMENT (Continued)

FOR THE YEAR ENDED 31 MARCH 2024

Council of Management

Appointment and recruitment of Council Members

Council of Management Responsibilities

Disclosure of information to auditors

Mr Nicholas Wells, Chairman

INDEPENDENT AUDITORS' REPORT TO THE COUNCIL OF MANAGEMENT OF STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

FOR THE YEAR ENDED 31 MARCH 2024

Opinion

Basis of opinion

Conclusions relating to going concern

Other information

INDEPENDENT AUDITORS' REPORT TO THE COUNCIL OF MANAGEMENT OF STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES

FOR THE YEAR ENDED 31 MARCH 2024

Opinions on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

Responsibilities of Council of Management

Auditor’s responsibilities for the audit of the financial statements

INDEPENDENT AUDITORS' REPORT TO THE COUNCIL OF MANAGEMENT OF STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES