**Company Registration No. 00407697 Charity Registration No. 227794** 

STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

ANNUAL REPORT AND FINANCIAL STATEMENTS 

FOR THE YEAR ENDED 31 MARCH 2025 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES (A Company Limited by Guarantee) 

## CONTENTS 

||**Page**|
|---|---|
|Legal and administrative information|1|
|Council of Management’s report|3|
|Independent auditor's report|11|
|Statement of financial activities|14|
|Balance sheet|16|
|Statement of cash flows|17|
|Notes to the financial statements|18|





## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## LEGAL AND ADMINISTRATIVE INFORMATION 

## **Patrons** 

Mr T Waite CBE Mrs A Cottrell OBE 

## **Vice Presidents** 

Mrs P Shephard MBE Mr B Dale FCIPD 

## **Trustees** 

Mrs S Toms Mr N Wells Mr A Hyner Mrs P Unwin Mrs D Allaway Mrs K Abel Mr R Clark Mrs B Clayson Dr P Garrod Ms J Greer Mr G Wallden 

Chair (From 27 November 2024) Chair (To 27 November 2024) Vice Chair (From 27 November 2024) Vice Chair (To 27 November 2024) Treasurer 

(Resigned 27 November 2024) (Resigned 27 November 2024) (Appointed 26 March 2025) 

(Appointed 26 March 2025) (Appointed 26 June 2024) 

## **Senior management team** 

Mr P Montgomery BSC, MA, MBA, MSc Mrs R Richards MA, PGDip, Level 5 Leadership and Management Adult Social Care Mr D John FCCA Mr J Cotterill RGN, DMS Mrs H Taylor MSc, MCIPD, PGDip Ms K Jeal FdA, MinstF Dip 

Mrs L Topping BA, MCIOF (FCert) 

Mrs K Carey 

Chief Executive and Company Secretary Director Care & Deputy Chief Executive 

Director of Finance Director of Care (To 25 April 2025) HR Director Director of Fundraising and (To 1 November 2024) Communications Fundraising, Communications and (From 6 January 2025) Events Manager PA to Chief Executive 

**Company number** 00407697 

**Charity number** 227794 

**Principal Address** 

Strode Park House Lower Herne Road Herne Herne Bay Kent CT6 7NE 

**Independent auditors** 

Azets Audit Services 5[th] Floor Ashford Commercial Quarter 1 Dover Place Ashford Kent TN23 1FB 

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## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## LEGAL AND ADMINISTRATIVE INFORMATION 

## **Bankers** 

Metro Bank PLC 16 St Georges Street Canterbury Kent CT1 2TX 

## **Solicitors** 

Pocock’s Solicitors of Whitstable First Floor (North) Gazette House Estuary View Business Park Whitstable Kent CT5 3SE 

2 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## REPORT OF COUNCIL OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2025 

The Council of Management present their report and financial statements for the year ended 31 March 2025. 

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 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 and an 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. 

## _Footprints_ 

Registered with CQC, Footprints provides residential care and support for up to 10 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. 

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## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## REPORT OF COUNCIL OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2025 

## _Supported Living_ 

Strode Park Foundation has 5 supported living facilities (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 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 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 15 vehicles, including specially adapted cars and minibuses. 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 shop_ 

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. 

## ACHIEVEMENTS AND PERFORMANCE 

The year under review saw further progress towards the strategic objectives agreed by the Council of Management and set in the Business Plan for 2022/25. More precisely: 

1. All registered services retained ‘Good’ CQC ratings. 

2. Recruitment and retention strategies continued to be effective and, despite critical shortages of carers and nurses at both a local and a national level, SPF successfully reduced vacancies and significantly increased the number of directly employment staff members. 

One important consequence of this is that the amount spent on agency staff fell to £837,000, which is approximately half of the agency bill for the previous year. 

This outcome has a clear, indisputably positive impact on both the Foundation’s financial performance and the quality of care and support provided. 

3. 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. 

4. The first tenant moved into the newly reconfigured and refurbished Lady Dane Farmhouse supported living accommodation. 

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## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## REPORT OF COUNCIL OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2025 

5. In 2022/23, SPF successfully tendered for a new Day Opportunities contract from Kent County Council (KCC). In 2024, as part of a budget cuts exercise, KCC requested a reduction in the fee rate agreed and awarded by KCC less than 12 months previously. 

SPF was unable to acquiesce to this request (which would have required SPF to subsidise KCC fees) and therefore the contract was terminated. 

Nonetheless, SPF has continued to provide this service for private paying clients and those in receipt of Direct Payments from KCC. 

6. Governance has been strengthened even further through the appointment of new members to the Council of Management. The new members bring additional knowledge of disability rights, finances, and social care. 

7. The digital transformation and upgrade continued with Person Centred Software (e-care planning system) now established in all SPF homes. 

The effectiveness of the new e-medication administration systems and the integrated roster management and payroll system is being reviewed. It is anticipated that these systems will be improved further in 2025/26. 

8. The sale of Redwalls was completed and the funds received. 

9. The objective of improving financial reserves was not achieved and remains a goal for the forthcoming year. 

10. 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. 

The risk register will be subject to on-going review and will be up-dated regularly. 

11. The charity 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. 

12. The Foundation has remained committed to supporting staff well-being. Previous initiatives, including the expansion of the role and membership of the staff council and offering a confidential counselling service have been maintained and, in addition, all managers have received additional training in mental health needs and how to identify and back staff members who may benefit from enhanced support. 

13. As noted in the finance review below, voluntary income continues to be a vital source of revenue for the Foundation. Receipts 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 valued and important funds for the Foundation. 

14. Strode Park Foundation has continued to promote and embed positive organisational values which are emphasised and celebrated in the annual staff awards, in job adverts, in individual supervision, and initial induction and orientation training for all new staff members. 

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 25/26), the Forrest of Blean Rotary Club (2024/25), Faversham Rotary Club, and Active Life Herons Centre. This recognition is truly appreciated. 

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## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## REPORT OF COUNCIL OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2025 

The Council of Management remains 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 is a vital component in the Foundation’s mission to provide services of the highest possible quality for people with disabilities. 

## FINANCIAL REVIEW 

In 2024/25 Strode Park Foundation recorded a surplus of £82,991 and thus begin to stabilise after a very difficult year in 2023/24 which recorded a deficit of £1,676,148. 

Total income before gains on the remeasurements of pension liabilities and the disposal of assets increased by approximately 10% to £13,018,454 compared to £11,844,056 in 2023/24. 

However, there was a comparable increase in costs and the overall surplus relied on net receipts of £179,488 from the sale of Redwalls. Without this one-off boost to revenue and fundraising income, the Foundation would have posted a deficit. 

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

Positive outcomes during the year included the considerable reduction in agency expenditure noted above and sustained impressively high occupancy rates in all the registered residential services. 

However, generic inflationary pressures, especially increases to the national minimum wage together with rises in energy and food costs, continued to erode the value of local authority contract fee rates. 

Despite the above, and additional unplanned capital expenditure on premises and safety upgrades, it is encouraging to report that the Foundation paid off the long-standing, residual mortgage on the ReAbility extension at Strode Park House. 

The net surplus for the year also had a positive impact on cashflow. On 31 March 2025, unrestricted funds were £312,928 which is a 71% increase on the £182,547 held at the end of 2023/24. 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 2024/25 was £4,567 compared to returns of £3,283 in the previous year. 

## **Fundraising activities** 

Strode Park Foundation employs a small Fundraising, Marketing and Public Relations team. During 2024/25, £54,378 was spent on staff salaries (2023/24 £50,975) whilst a total of £120,660 (2023/24: £121,429) was received in donations, charitable grants, events and charity shop sales. 

There were no legacies received during 2024/25 (2023/24: £35,505) however we did receive £19,982 in grants (2023/24 £nil). We thank the Fundraising team 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. 

## **Investment policy** 

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

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## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## REPORT OF COUNCIL OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2025 

## **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 2024/25 was in the region of £780,000 (2024: £720,226). 

General unrestricted reserves at 31 March 2025 were £312,928 (2024: £182,547). 

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 2025/26 and 2026/27. 

The charity also held designated reserves of £4,575,599 (2024: £4,639,334), details of which are set out in note 21 and restricted funds of £165,422 (2024: £149,077), details of which are set out in note 22. 

## **Plans for the future** 

Building on the positive outcomes achieved in 2024/25, the charity’s strategic ambitions remain firmly focussed on maintaining the exceptional quality of the services and the return to profitability which will, in turn, strengthen cash reserves and enhance on-going viability. 

To achieve these ambitions the Foundation’s plan for 2025/26 retains the following three key elements: 

## **1. Service Improvements** 

The Foundation is committed to continuous improvement and will aim to retain ‘Good’ ratings for all CQC regulated services and push for ‘Outstanding’ ratings where this is realistic. 

The retention of the top 5-star environmental award also remains a target for all inspected services. 

One element of the strategy for maintaining high quality services is the implementation, review and development of robust Quality Assurance systems. More precisely, in 2025/26 the Foundation will adapt the Croner Guidance framework to create a bespoke audit system for Strode Park Foundation. 

The complexity of the medication needs of SPF residents means that there can be more than 40,000 separate drug administrations each month. In this context, it is vital that the ordering, stock checking, storage, administration and recording of medication transactions is as effective and efficient as possible. Therefore, the Foundation will continue to test and implement new eMAR systems with the objective of reducing the potential for errors and improving further an already impressive medication administration record. 

As and when affordable, there will be further investment in buildings and equipment including a programme of redecoration for bedrooms and shared areas. 

The creation or upgrading of indoor and outdoor sensory stimulation spaces will also be an objective. 

Similarly, and subject to available funding, the Foundation will seek to purchase new specialist, disability adapted vehicles to begin the process of replacing the current aging fleet. 

The capital investment programme will, to some extent, be contingent on successful fundraising campaigns. These campaigns will be supported by updated and enhanced marketing materials. 

Importantly, the Foundation will endeavour to achieve these objectives whilst expanding and deepening service user involvement in decision making processes, especially in relation to staff recruitment. 

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## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## REPORT OF COUNCIL OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2025 

## **2. Improved Financial Performance** 

On the income side, high occupancy remains vital to the financial performance of the Foundation. 

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 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. 

Additional cost savings will also be explored with a focus on ensuring the best deals possible from energy and utility providers.  The Foundation will also consider the affordability of paying off the residual mortgage held against Footprints. 

## **3. Strengthening Staff Resources** 

Despite a national and local staffing crisis, Strode Park Foundation has been extremely successful in improving recruitment and retention rates between 2024 and 2025. 

The reduction in the use of agency staff was a major achievement and a continuation of this trend will remain a goal for the next three years. 

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. 

As we move forward, the Foundation will remain committed to providing an impressive level of in-house training for all staff members, including, whenever possible, supporting Carers who wish to undertake the Nurse Associate training which has proved to be so successful in recent years. 

The Foundation will also strengthen specialist training in learning disabilities and autism, the application of the Mental Capacity Act, and leadership and management skills. 

It has been a challenging period, and everyone associated with the Foundation deserves credit for their on-going commitment and determination to ensure that the interests of the people that rely on the services are always at the forefront of everything we do. This has been the guiding principle and underpinning value of the charity since its incorporation nearly eighty years ago. It remains the basis of everything we do. 

## **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: 

1. Potential loss of funding from significant purchasers 

2. Reputational damage resulting from non-compliance with regulatory requirements 

3. Changes in legislation that have a detrimental financial impact (e.g. the National Living Wage) 

4. Diminished reserves limiting capacity to respond to unanticipated one-off events. 

8 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## REPORT OF COUNCIL OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2025 

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

- Formal agendas for Committee and Board activity. 

- Comprehensive strategic planning, budgeting, and management accounting. 

- Quarterly Clinical Governance meetings and reporting cycle. 

- Established organisational structure and lines of reporting. 

- Formal written policies. 

- Quality Assurance systems including CHAS and an on-going Croner based assessment tool. 

- Clear and strengthened authorisation and approval levels. 

- Close and continuous monitoring of the 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 mitigate, the 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 Chair, Vice Chair, 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. 

9 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## REPORT OF COUNCIL OF MANAGEMENT FOR THE YEAR ENDED 31 MARCH 2025 

## **Council of Management** 

The members of the Council of Management who served during the period were as follows: Mrs S Toms (Chair from 27 Nov 2024) Mr N Wells (Chair to 27 Nov 2024) Resigned 27 Nov 2024 Mr A Hyner (Vice Chair from 27 Nov 2024) Mrs P Unwin (Vice Chair from 27 Nov 2024) Resigned 27 Nov 2024 Mrs D Allaway (Treasurer) Mrs K Abel Appointed 26 Mar 2025 Mr R Clark Mrs B Clayson Dr P Garrod Ms J Greer Appointed 26 Mar 2025 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. 

This report was approved by the Trustees, on 26 November 2025 and signed on their behalf by: 

Mrs Sarah Toms **Chair** 

10 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2025 

## Opinion 

We have audited the financial statements of Strode Park Foundation for People with Disabilities for the year ended 31 March 2025 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 2025, 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; and 

- have been prepared in accordance with the Charities SORP 2019. 

## 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. 

11 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2025 

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 directors’ report included within the trustees’ 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. 

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## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2025 

## 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. 

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. 

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. 

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 auditor’s report. 

## 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 (Senior Statutory Auditor)** 

For and on behalf of Azets Audit Services 

**Date** : 1 December 2025 

5th Floor Ashford Commercial Quarter 1 Dover Place Ashford Kent TN23 1FB 

13 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 

|**Note**<br>**Income from:**<br>Donations and legacies<br>Donations and legacies<br>**2**<br>Grants receivable<br>**3**<br>Charitable activities<br>**4**<br>Other trading income<br>**5**<br>Investment income - Bank interest<br>Other<br>**6**<br>**Total**<br>**Expenditure on:**<br>Raising funds<br>**7**<br>Charitable activities<br>**7**<br>**Total**<br>**7**<br>Revaluation gains on investments<br>**15**<br>**Net (expenditure) / income**<br>**Transfers between funds**<br>**22**<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**|**Unrestricted**<br>**Funds**<br>**£**<br>46,996<br>-<br>12,642,747<br>207,763<br>4,567<br>79,156<br>12,981,229<br>128,829<br>12,966,909<br>13,095,738<br>179,488<br>64,979<br>1,667<br>66,646<br>4,821,881<br>4,888,527|**Restricted**<br>**Funds**<br>**£**<br>14,118<br>19,982<br>-<br>2,075<br>-<br>1,050<br>37,225<br>-<br>19,213<br>19,213<br>-<br>18,012<br>(1,667)<br>16,345<br>149,077<br>165,422|**2025**<br>**Total**<br>**£**<br>61,114<br>19,982<br>12,642,747<br>209,838<br>4,567<br>80,206<br>13,018,454<br>128,829<br>12,986,122<br>13,114,951<br>179,488<br>82,991<br>-<br>82,991<br>4,970,958<br>5,053,949|**2024**<br>**Total**<br>**£**<br>76,065<br>-<br>11,520,556<br>178,308<br>3,283<br>65,844<br>11,844,056<br>114,979<br>13,405,225<br>13,520,204<br>-<br>(1,676,148)<br>-<br>(1,676,148)<br>6,647,106<br>4,970,958|
|---|---|---|---|---|



All transactions are derived from continuing activities. 

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

14 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES (A Company Limited by Guarantee) 

## STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 

|**Comparative year information**<br>**Note**<br>**Year ended 31 March 2024**<br>**Income from:**<br>Donations and legacies<br>Donations and legacies<br>**2**<br>Grants receivable<br>**3**<br>Charitable activities<br>**4**<br>Other trading income<br>**5**<br>Investment income<br>Other<br>**6**<br>**Total**<br>**Expenditure on:**<br>Raising funds<br>**7**<br>Charitable activities<br>**7**<br>**Total**<br>**7**<br>**Net (expenditure) / income**<br>**Transfers between funds**<br>**22**<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**|**Unrestricted**<br>**Funds**<br>**£**<br>51,497<br>-<br>11,520,556<br>178,308<br>3,283<br>65,844<br>11,819,488<br>114,979<br>13,375,334<br>13,490,313<br>(1,670,825)<br>8,443<br>(1,662,382)<br>6,484,263<br>4,821,881|**Restricted**<br>**Funds**<br>**£**<br>24,568<br>-<br>-<br>-<br>-<br>-<br>24,568<br>-<br>29,891<br>29,891<br>(5,323)<br>(8,443)<br>(13,766)<br>162,843<br>149,077|**2024**<br>**Total**<br>**£**<br>76,065<br>-<br>11,520,556<br>178,308<br>3,283<br>65,844<br>11,844,056<br>114,979<br>13,405,225<br>13,520,204<br>(1,676,148)<br>-<br>(1,676,148)<br>6,647,106<br>4,970,958|
|---|---|---|---|



All transactions are derived from continuing activities. 

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

15 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## BALANCE SHEET AS AT 31 MARCH 2024 

|**Company Number: 00407697**<br>**Note**<br>**Fixed assets**<br>Tangible assets<br>**13**<br>**Current assets**<br>Stocks<br>Debtors<br>**14**<br>Investments<br>**15**<br>Cash at bank and in hand<br>Creditors: amounts falling due within<br>one year<br>**16**<br>**Net current assets**<br>**Total assets less current liabilities**<br>Creditors: amounts falling due after<br>more than one year<br>**17**<br>Defined benefit pension liability<br>**19**<br>**Total net assets**<br>**Funds**<br>Unrestricted funds<br>Designated funds<br>**21**<br>Restricted funds<br>**22**<br>**Total charity funds**<br>**23**|**£**<br>**£**<br>4,920,761<br>-<br>1,307,436<br>-<br>609,163<br>1,916,599<br>(1,129,738)<br>786,861<br>5,707,622<br>(653,673)<br>-<br>5,053,949<br>312,928<br>4,575,599<br>165,422<br>5,053,949<br>**2025**|**£**<br>**£**<br>5,187,617<br>23,889<br>1,073,887<br>424,904<br>495,460<br>2,018,140<br>(1,516,542)<br>501,598<br>5,689,215<br>(713,692)<br>(4,565)<br>4,970,958<br>182,547<br>4,639,334<br>149,077<br>4,970,958<br>**2024**|
|---|---|---|



The financial statements were approved on 26 November 2025 and authorised for issue by the Council of Management and signed on its behalf by: 

Mrs Sarah Toms **Chairman** 

**Date:** 

16 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## CASH FLOW STATEMENT 

## FOR THE YEAR ENDED 31 MARCH 2025 

|**Note**<br>**Cash flows from operating activities**<br>**Net cash used in operating activities**<br>**26**<br>**Cash flows from investing activities**<br>Investment Income<br>Purchase of tangible fixed assets<br>Proceeds from sale of tangible fixed assets<br>**Net cash provided by / (used in) investing activities**<br>**Cash flow from financing activities**<br>Repayment of loans<br>**Net cash used in financing activities**<br>**Change in cash and cash equivalents in the year**<br>**Cash and cash equivalents at the beginning of the reporting period**<br>**Cash and cash equivalents at the end of the reporting period**<br>**28**|**2025**<br>**£**<br>(224,539)<br>4,567<br>(106,626)<br>604,392<br>502,333<br>(164,091)<br>(164,091)<br>113,703<br>495,460<br>609,163|**2024**<br>**£**<br>(781,259)<br>3,283<br>(380,583)<br>-<br>(377,300)<br>(154,423)<br>(154,423)<br>(1,312,982)<br>1,808,442<br>495,460|
|---|---|---|



17 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## NOTES TO THE ACCOUNTS 

## FOR THE YEAR ENDED 31 MARCH 2025 

## **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. 

## **1.3 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. 

18 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## NOTES TO THE ACCOUNTS 

## FOR THE YEAR ENDED 31 MARCH 2025 

## **1 Accounting policies (continued)** 

- **1.4 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. 

## **1.5 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. 

## **1.6 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. 

19 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## NOTES TO THE ACCOUNTS 

## FOR THE YEAR ENDED 31 MARCH 2025 

## **1 Accounting policies (continued)** 

## **1.7 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 (2024: £4,484,785). 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. 

## **1.8 Current asset investments** 

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

## **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. 

20 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## NOTES TO THE ACCOUNTS 

## FOR THE YEAR ENDED 31 MARCH 2025 

## **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. 

## **1.16 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. There are no 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. 

21 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## NOTES TO THE ACCOUNTS 

## FOR THE YEAR ENDED 31 MARCH 2025 

|**2**<br>**DONATIONS AND LEGACIES**<br>Donations<br>Gift aid<br>Appeals<br>Legacies<br>**3**<br>**GRANTS RECEIVABLE**<br>**Grants from institutions**<br>Medway Council<br>Enfinium Community<br>**4**<br>**CHARITABLE INCOME**<br>Residential Care<br>Day Opportunities<br>Community care<br>**5**<br>**OTHER TRADING INCOME**<br>Income from shops<br>Accommodation rentals<br>Events income<br>**6**<br>**OTHER INCOME**<br>Client and other recharges<br>Other|**Unrestricted**<br>**Funds**<br>**£**<br>45,711<br>813<br>472<br>-<br>46,996<br>**Unrestricted**<br>**Funds**<br>**£**<br>-<br>-<br>-<br>**Unrestricted**<br>**Funds**<br>**£**<br>11,473,671<br>306,772<br>862,304<br>12,642,747<br>**Unrestricted**<br>**Funds**<br>**£**<br>36,180<br>77,785<br>93,798<br>207,763<br>**Unrestricted**<br>**Funds**<br>**£**<br>79,156<br>-<br>79,156|**Restricted**<br>**Funds**<br>**£**<br>14,118<br>-<br>-<br>-<br>14,118<br>**Restricted**<br>**Funds**<br>**£**<br>17,382<br>2,600<br>19,982<br>**Restricted**<br>**Funds**<br>**£**<br>-<br>-<br>-<br>-<br>**Restricted**<br>**Funds**<br>**£**<br>1,195<br>-<br>880<br>2,075<br>**Restricted**<br>**Funds**<br>**£**<br>1,050<br>-<br>1,050|**2025**<br>**Total**<br>**£**<br>59,829<br>813<br>472<br>-<br>61,114<br>**2025**<br>**Total**<br>**£**<br>17,382<br>2,600<br>19,982<br>**2025**<br>**Total**<br>**£**<br>11,473,671<br>306,772<br>862,304<br>12,642,747<br>**2025**<br>**Total**<br>**£**<br>37,375<br>77,785<br>94,678<br>209,838<br>**2025**<br>**Total**<br>**£**<br>80,206<br>-<br>80,206|**2024**<br>**£**<br>38,783<br>946<br>831<br>35,505<br>76,065<br>**2024**<br>**£**<br>-<br>-<br>-<br>**2024**<br>**£**<br>10,447,803<br>283,064<br>789,689<br>11,520,556<br>**2024**<br>**£**<br>27,833<br>80,488<br>69,987<br>178,308<br>**2024**<br>**£**<br>51,344<br>14,500<br>65,844|
|---|---|---|---|---|



22 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## NOTES TO THE ACCOUNTS 

## FOR THE YEAR ENDED 31 MARCH 2025 

|**7**<br>**EXPENDITURE**<br>**Staff**<br>**Costs**<br>**£**<br>Costs of raising funds<br>54,378<br>Charitable activities:<br>Care service<br>8,769,299<br>Supported living<br>428,671<br>Day services<br>164,927<br>9,417,275<br>**8**<br>**COSTS OF RAISING FUNDS**<br>Charity shops<br>Theatre in the Park<br>Fundraising<br>**9**<br>**SUPPORT COSTS**<br>Vehicle expenses<br>Insurance<br>General office costs<br>Human Resources<br>Finance and payroll<br>Information Technology<br>Facilities Management<br>CQC and other licence costs<br>Depreciation<br>Bank charges and interest<br>Professional fees<br>Governance:<br>Audit fees<br>**10**<br>**NET INCOME**<br>Net expenditure is stated after charging:<br>Depreciation of tangible fixed assets<br>Auditors' remuneration<br>- audit<br>- under / over provision<br>Rentals under operating leases|**Direct**<br>**Costs**<br>**£**<br>70,641<br>1,879,821<br>85,270<br>3,123<br>2,038,855|**Support**<br>**Costs**<br>**£**<br>3,810<br>1,606,683<br>37,525<br>10,803<br>1,658,821|**2025**<br>**Total**<br>**£**<br>128,829<br>12,255,803<br>551,466<br>178,853<br>13,114,951<br>**2025**<br>**£**<br>5,180<br>47,116<br>18,345<br>70,641<br>**2025**<br>**£**<br>84,877<br>146,042<br>50,180<br>78,222<br>7,087<br>224,393<br>562,548<br>-<br>372,890<br>91,534<br>16,545<br>24,503<br>1,658,821<br>**2025**<br>**£**<br>372,890<br>24,503<br>-<br>35,198|**2024**<br>**Total**<br>**£**<br>114,979<br>12,782,122<br>460,674<br>162,429<br>13,520,204<br>**2024**<br>**£**<br>3,684<br>38,869<br>15,051<br>57,604<br>**2024**<br>**£**<br>67,232<br>147,533<br>61,840<br>87,584<br>13,160<br>236,909<br>737,055<br>25,976<br>371,099<br>81,976<br>27,052<br>23,157<br>1,880,573<br>**2024**<br>**£**<br>371,099<br>20,400<br>2,757<br>50,686|
|---|---|---|---|---|



23 



STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## NOTES TO THE ACCOUNTS 

## FOR THE YEAR ENDED 31 MARCH 2025 

|**11**<br>**EMPLOYEES**<br>**Employment costs**<br>Wages and Salaries<br>Social Security costs<br>Pension contributions<br>Apprenticeship levy<br>**Employee numbers**<br>The average number of employees, by headcount, during the year was:<br>Carers<br>Nurses<br>Ancillary<br>Day care / Lifestyles<br>Admin<br>Therapy<br>Senior Management<br>Registered Home Managers<br>**Higher paid staff**<br>The number of employees whose emoluments as defined for taxation<br>purposes, amounted to over £60,000 in the year was as follows:<br>£60,001 - £70,000<br>£90,001 - £100,000|**2025**<br>**£**<br>8,440,376<br>690,155<br>259,222<br>27,522<br>9,417,275<br>**2025**<br>**no.**<br>211<br>15<br>50<br>65<br>29<br>2<br>6<br>5<br>383<br>**2025**<br>**no.**<br>2<br>1|**2024**<br>**£**<br>7,749,132<br>634,610<br>216,333<br>28,786<br>8,628,861<br>**2024**<br>**no.**<br>200<br>15<br>45<br>51<br>27<br>3<br>6<br>6<br>353<br>**2024**<br>**no.**<br>2<br>1|
|---|---|---|



The cost of the pension contributions in respect of employees earning in excess of £60,000 per annum amounted to £22,723 (2024 - £22,723). 

## **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 £419,895 (2024: £454,829). 

## **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 2025 (2024: £Nil). 

During the year, the charitable company paid £2,675 (2024: £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. 

24 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## NOTES TO THE ACCOUNTS 

## FOR THE YEAR ENDED 31 MARCH 2025 

## **13 TANGIBLE FIXED ASSETS** 

|||||**Furniture,**|||
|---|---|---|---|---|---|---|
|||**Freehold**||**fittings and**|<br>**Cars, coach**||
|||**land and**|**Freehold**|<br>**computer**|<br>**and**||
|||**buildings**|**improvments**|<br>**equipment**|<br>**ambulance**|**Total**|
|||**£**|**£**|**£**|**£**|**£**|
||**Cost**||||||
||As at 1 April 2024|5,188,451|1,636,144|2,186,862|154,412|9,165,869|
||Additions|-|60,917|37,209|8,500|106,626|
||Disposals|-|-|(1,496)|-|(1,496)|
||At 31 March 2025|5,188,451|1,697,061|2,222,575|162,912|9,270,999|
||**Depreciation**<br>As at 1 April 2024<br>Charge for year<br>Disposals|703,706<br>96,543|1,259,407<br>128,980|1,891,326<br>139,128<br>(904)|123,813<br>8,239|3,978,252<br>372,890<br>(904)|
||At 31 March 2025|800,249|1,388,387|2,029,550|132,052|4,350,238|
||**Net book values**<br>At 31 March 2025|4,388,202|308,674|193,025|30,860|4,920,761|
||At 31 March 2024|4,484,745|376,737|295,536|30,599|5,187,617|
|**14**|**DEBTORS**<br>Trade debtors<br>Other debtors<br>Prepayments and accrued income<br>Included in Freehold Land and Buildings is land with a cost of|||£406,714 (2024:|**2025**<br>**2024**<br>**£**<br>**£**<br>312,900<br>253,433<br>371,716<br>313,490<br>622,820<br>506,964<br>£406,714) that is not depreciated.||
||||||1,307,436|1,073,887|
||Amounts falling due after more than one year and included above are:<br>Other debtors||||**2025**<br>**£**<br>361,000|**2024**<br>**£**<br>268,000|
|**15**|**CURRENT ASSET INVESTMENTS**<br>Value brought forward<br>Reclassified from Tangible Fixed Assets<br>Disposals<br>Gain on disposal||||**2025**<br>**£**<br>424,904<br>-<br>(604,392)<br>179,488|**2024**<br>**£**<br>-<br>424,904<br>-<br>-|
||||||-|424,904|



Current asset investments represented the charity’s freehold land and buildings which was on the market for sale in 2024 and was sold in 2024-25. 

25 



STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## NOTES TO THE ACCOUNTS 

## FOR THE YEAR ENDED 31 MARCH 2025 

|**16**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Bank loans and overdrafts<br>Trade creditors<br>Other taxes and social security<br>Other creditors<br>Accruals and deferred income<br>The bank overdraft is secured by a charge over certain freehold properties, see<br>**17**<br>**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**<br>Bank loans<br>Deferred income<br>**Bank loans**<br>Within one year<br>In two to five years<br>After more than five years|**2025**<br>**£**<br>64,773<br>371,958<br>147,424<br>78,291<br>467,292<br>1,129,738<br>note 17.<br>**2025**<br>**£**<br>641,389<br>12,284<br>653,673<br>**2025**<br>**£**<br>64,773<br>243,791<br>397,598<br>706,162|**2024**<br>**£**<br>111,378<br>386,964<br>334,675<br>102,383<br>581,142<br>1,516,542<br>**2024**<br>**£**<br>700,340<br>13,352<br>713,692<br>**2024**<br>**£**<br>111,378<br>224,881<br>475,459<br>811,718|
|---|---|---|



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

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:<br>Creditors due within one year<br>Creditors due after more than one year<br>Deferred income at 1 April<br>Released from previous years<br>Resources deferred in the year<br>Deferred income at 31 March|259,072<br>12,284<br>271,356<br>293,479<br>(280,127)<br>258,004<br>271,356|280,127<br>13,352<br>293,479<br>295,414<br>(282,062)<br>280,127<br>293,479|
|---|---|---|



Deferred income relates to fees received in advance for Residential Care, Day Opportunities and Community Care which relate to income in the next financial year. 

26 



STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES (A Company Limited by Guarantee) 

## NOTES TO THE ACCOUNTS 

## FOR THE YEAR ENDED 31 MARCH 2025 

## **19 PENSION AND OTHER POST-RETIREMENT BENEFIT COMMITMENTS** 

The Foundation's employees belong to a principal pension scheme which is a multi-employer defined benefit scheme: 

- The Local Government Pension Scheme (LGPS) for non-teaching staff, which is managed by Kent County Council 

The Foundation's employees belonged to a principal pension scheme which was a multi-employer defined benefit scheme.  Payments into this scheme ceased in September 2022 and the pension deficit was bought out in the year: 

- TPT Retirement Solutions Growth Fund (formerly The Pensions Trust Growth Fund); and 

The latest actuarial valuation of the LGPS was 31 March 2024. 

Pension contributions amounting to £nil (2024: £508) were unpaid at 31 March 2025. 

|Note<br>**SCHEME:**<br>The Pensions Trust – The Growth Plan<br>19.1<br>Kent County Council Pension Fund<br>19.2<br>|**2025**<br>**£**<br>-<br>-<br>-|**2024**<br>**£**<br>4,565<br>-<br>4,565|
|---|---|---|



## **19.1 SCHEME: The Pensions Trust – The Growth Plan** 

Strode Park Foundation participated in the scheme, a multi-employer scheme which provided 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 accounted 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 was classified as a 'last-man standing arrangement'. The charity has bought out its potential liability for other participating employers' obligations (if those employers were unable to meet their share of the scheme deficit following 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 was in deficit and where the company has agreed to a deficit funding arrangement the company recognised a liability for this obligation. The amount recognised was the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value was calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost. 

27 



STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## NOTES TO THE ACCOUNTS 

## FOR THE YEAR ENDED 31 MARCH 2025 

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

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

|**Present values of provision**<br>Present value of provision<br>**Reconciliation of opening and closing provisions**<br>Provision at start of period<br>Unwinding of the discount factor (interest expense)<br>Deficit contribution paid<br>Remeasurements - impact of any change in assumptions<br>Provision at end of period<br>**Income and expenditure impact**<br>Interest expense<br>Remeasurements – impact of any change in assumptions<br>Costs recognised in income and expenditure account<br>**Assumptions**<br>Rate of discount|**2025**<br>**£**<br>-<br>**2025**<br>**% per annum**<br>N/A.|**2024**<br>**£**<br>4,565<br>**2025**<br>**£**<br>4,565<br>-<br>(4,565)<br>-<br>-<br>**2025**<br>**£**<br>-<br>-<br>-<br>**2024**<br>**% per annum**<br>5.31|**2023**<br>**£**<br>9,773<br>**2024**<br>**£**<br>9,773<br>374<br>(5,585)<br>3<br>4,565<br>**2024**<br>**£**<br>374<br>3<br>377<br>**2023**<br>**% per annum**<br>5.52|
|---|---|---|---|



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. 

|**Deficits contribution schedule**|**2025**<br>**2024**<br>**2023**|
|---|---|
|Year 1|**£**<br>**£**<br>**£**<br>-<br>4,654<br>5,585|
|Year 2|-<br>-<br>4,654|



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. 

28 



STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## NOTES TO THE ACCOUNTS 

## FOR THE YEAR ENDED 31 MARCH 2025 

## **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 2025 was £43k (2024: £49k), of which employer’s contributions totalled £34k (2024: £39k) and employees’ contributions totalled £9k (2024: £10k). The minimum contribution rates for future years are 24.5 per cent for employers and between 5.5 per cent and 7.5 per cent for employees. 

|**Principal actuarial assumptions**<br>Rate of increase in salaries<br>Rate of increase in pension payment<br>Discount rate<br>Inflation assumption - CPI|**2025**<br>%<br>3.90<br>3.20<br>5.75<br>2.90|**2024**<br>%<br>3.90<br>3.25<br>4.90<br>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_<br>Males<br>Females<br>_Retiring in 20 years_<br>Males<br>Females<br>**The Foundation's share of the assets in the scheme were:**<br>Equities<br>Bonds<br>Property<br>Gilts<br>Cash<br>Target return portfolio<br>Infrastructure<br>Total market value of assets|**2025**<br>20.70<br>23.30<br>22.00<br>24.70<br>**2025**<br>**£**<br>1,942,000<br>507,000<br>279,000<br>202,000<br>135,000<br>174,000<br>171,000<br>3,410,000|**2024**<br>20.80<br>23.30<br>22.00<br>24.70<br>**2024**<br>**£**<br>1,981,000<br>490,000<br>306,000<br>250,000<br>54,000<br>172,000<br>153,000<br>3,406,000|
|---|---|---|



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**<br>Current service cost<br>Net interest cost<br>Administration expenses<br>Total operating charge|**2025**<br>**£**<br>34,000<br>-<br>3,000<br>37,000|**2024**<br>**£**<br>40,000<br>(27,000)<br>3,000<br>16,000|
|---|---|---|



29 



STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## NOTES TO THE ACCOUNTS 

## FOR THE YEAR ENDED 31 MARCH 2025 

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

## **19.2 SCHEME: Kent County Council Pension Fund (Continued)** 

|At 1 April<br>Current service cost<br>Interest cost<br>Change in financial assumptions<br>Change in demographic assumptions<br>Experience loss/(gain) on defined benefit obligation<br>Estimated benefits paid<br>Contributions by Scheme participants<br>**At 31 March**<br>**Changes in the fair value of academy’s share of scheme assets:**<br>**At 1 April**<br>Interest on assets<br>Return on assets less interest<br>Administration expenses<br>Employer contributions<br>Contributions by Scheme participants<br>Estimated benefits paid<br>Asset not recognised<br>**At 31 March**<br>**Changes in the present value of defined benefit obligations were as**<br>**follows:**|**2025**<br>**£**<br>2,816,000<br>34,000<br>135,000<br>(323,000)<br>(6,000)<br>(7,000)<br>(146,000)<br>9,000<br>2,512,000<br>**2025**<br>**£**<br>2,816,000<br>164,000<br>(54,000)<br>(3,000)<br>34,000<br>9,000<br>(146,000)<br>(308,000)<br>2,512,000|**2024**<br>**£**<br>2,884,000<br>40,000<br>134,000<br>(40,000)<br>(37,000)<br>9,000<br>(184,000)<br>10,000<br>2,816,000<br>**2024**<br>**£**<br>3,418,000<br>161,000<br>(35,000)<br>(3,000)<br>39,000<br>10,000<br>(184,000)<br>(590,000)<br>2,816,000|
|---|---|---|



## **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. 

|**DESIGNATED FUNDS**<br>**_Current year - 2024-2025_**<br>Pension bond (see note 14)<br>Performance bond (see note 14)<br>Fixed asset reserve<br>Defined benefit pension funds<br>**COMPARATIVE YEAR**<br>**_Prior year - 2023-2024_**<br>Pension bond (see note 14)<br>Performance bond (see note 14)<br>Fixed asset reserve<br>Defined benefit pension funds|**At 1 April 2024**<br>**£**<br>244,000<br>24,000<br>4,375,899<br>(4,565)<br>4,639,334<br>**At 1 April 2023**<br>**£**<br>244,000<br>24,000<br>4,697,274<br>(9,773)<br>4,955,501|**New**<br>**designations**<br>**£**<br>93,000<br>-<br>-<br>4,565<br>97,565<br>**New**<br>**designations**<br>**£**<br>-<br>-<br>-<br>5,208<br>5,208|**Designations**<br>**released**<br>**£**<br>-<br>-<br>(161,300)<br>-<br>(161,300)<br>**Designations**<br>**released**<br>**£**<br>-<br>-<br>(321,375)<br>-<br>(321,375)|**At 31 March**<br>**2025**<br>**£**<br>337,000<br>24,000<br>4,214,599<br>-<br>4,575,599<br>**At 31 March**<br>**2024**<br>**£**<br>244,000<br>24,000<br>4,375,899<br>(4,565)<br>4,639,334|
|---|---|---|---|---|



## **21 DESIGNATED FUNDS** 

30 



STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## NOTES TO THE ACCOUNTS 

## FOR THE YEAR ENDED 31 MARCH 2025 

## **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 - 2024-2025_**<br>Coach House Mews<br>Footprints and Redwalls<br>Fire Doors<br>Other funds<br>**_Prior year - 2023-2024_**<br>Coach House Mews<br>Footprints and Redwalls<br>COVID-19 grants<br>Fire Doors<br>Other funds|**At 1 April**<br>**2024**<br>**£**<br>81,529<br>5,434<br>18,500<br>43,614<br>149,077<br>**At 1 April**<br>**2023**<br>**£**<br>83,196<br>29,288<br>6,776<br>-<br>43,583<br>162,843|**Income**<br>**£**<br>-<br>11,207<br>-<br>26,018<br>37,225<br>**Income**<br>**£**<br>-<br>1,060<br>-<br>18,500<br>5,008<br>24,568|**Expenditure**<br>**£**<br>-<br>(3,976)<br>(1,540)<br>(13,697)<br>(19,213)<br>**Expenditure**<br>**£**<br>-<br>(24,914)<br>-<br>-<br>(4,977)<br>(29,891)|**Transfers**<br>**£**<br>(1,667)<br>-<br>-<br>-<br>(1,667)<br>**Transfers**<br>**£**<br>(1,667)<br>-<br>(6,776)<br>-<br>-<br>(8,443)|**At 31 March**<br>**2025**<br>**£**<br>79,862<br>12,665<br>16,960<br>55,935<br>165,422<br>**At 31 March**<br>**2024**<br>**£**<br>81,529<br>5,434<br>-<br>18,500<br>43,614<br>149,077|
|---|---|---|---|---|---|



## **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. 

## **COVID-19** 

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

## **Fire Doors** 

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

## **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. 

31 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## NOTES TO THE ACCOUNTS 

## FOR THE YEAR ENDED 31 MARCH 2025 

## **23 ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

|**_Current year - 2024-2025_**<br>Fixed assets<br>Current assets<br>Current liabilities<br>Long term liabilities<br>**_Prior year - 2023-2024_**<br>Fixed assets<br>Current assets<br>Current liabilities<br>Long term liabilities<br>Defined benefit pensions|**Unrestricted**<br>**funds**<br>**£**<br>-<br>1,390,177<br>(1,064,965)<br>(12,284)<br>312,928<br>**Unrestricted**<br>**funds**<br>**£**<br>-<br>1,601,063<br>(1,405,164)<br>(13,352)<br>-<br>182,547|**Designated**<br>**funds**<br>**£**<br>4,920,761<br>361,000<br>(64,773)<br>(641,389)<br>4,575,599<br>**Designated**<br>**funds**<br>**£**<br>5,187,617<br>268,000<br>(111,378)<br>(700,340)<br>(4,565)<br>4,639,334|**Restricted**<br>**funds**<br>**£**<br>165,422<br>-<br>-<br>165,422<br>**Restricted**<br>**funds**<br>**£**<br>-<br>149,077<br>-<br>-<br>-<br>149,077|**Total funds**<br>**£**<br>4,920,761<br>1,916,599<br>(1,129,738)<br>(653,673)<br>5,053,949<br>**Total funds**<br>**£**<br>5,187,617<br>2,018,140<br>(1,516,542)<br>(713,692)<br>(4,565)<br>4,970,958|
|---|---|---|---|---|



## **24 OPERATING LEASE COMMITMENTS** 

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

|**Other operating leases**<br>Within one year<br>Between two and five years|**2025**<br>**£**<br>52,797<br>59,151<br>111,948|**2024**<br>**£**<br>58,627<br>64,663<br>123,290|
|---|---|---|



## **25 RELATED PARTY TRANSACTIONS** 

In 2025 and 2024, 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. 

32 



## STRODE PARK FOUNDATION FOR PEOPLE WITH DISABILITIES 

## (A Company Limited by Guarantee) 

## NOTES TO THE ACCOUNTS 

## FOR THE YEAR ENDED 31 MARCH 2025 

|**26**|**RECONCILIATION OF NET INCOME TO NET CASH INFLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH INFLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH INFLOW FROM OPERATING ACTIVITIES**||
|---|---|---|---|---|
||||**2025**|**2024**|
||||**£**|**£**|
||Net expenditure for the year||82,991|(1,676,148)|
||**Adjustments for:**||||
||Depreciation charges||372,890|371,099|
||Investment income||(4,567)|(3,283)|
||Financing costs||58,535|60,755|
||Gain on disposal of fixed assets||(178,896)|-|
||(Increase) / Decrease in stocks||23,889|22|
||(Increase) / Decrease in debtors||(233,549)|(63,662)|
||Decrease / (Increase) in creditors||(341,267)|535,543|
||Contributions to LGPS from provisions||(4,565)|(5,585)|
||Net cash inflow from operating activities||(224,539)|(781,259)|
|**27**|**RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET FUNDS**||**2025**|**2024**|
||(Decrease)/Increase in cash||**£**<br>113,703|**£**<br>(1,312,982)|
||Repayment of other loan||105,556|94,045|
||Movement in net debt||219,259|(1,218,937)|
||Net debt at 1 April||(316,258)|902,679|
||Net debt at 31 March||(96,999)|(316,258)|
|**28**|**ANALYSIS OF NET DEBT**|**At 1 April 2024**<br>**Cash flow**<br>**Non-cash**<br>**changes**||**At 31 March**<br>**2025**|
||Cash at bank and in hand|**£**<br>**£**<br>**£**<br>495,460<br>113,703<br>-||**£**<br>609,163|
||Debt due within one year|(111,378)<br>105,556<br>(58,951)||(64,773)|
||Debt due after one year|(700,340)|-<br>58,951|(641,389)|
|||(811,718)<br>105,556<br>-||(706,162)|
||||||
|||(316,258)<br>219,259<br>-||(96,999)|



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