Company registration number. 5554535 Charity ragIstratn number. 252185 Plymouth Highbury Trust IA company Ilmitad by guarantee) Annual Report and Flnanci81 Statements for tho Year Ended 31 March 2024 WESTCOTTS eAATNo ACCOUIITANT • PU#IIIE$S ADVI8
Plymouth Hlghbury Trust Contents Reference and AdmlnistratNe Detai18 Trustees, Report 2105 Independent Audltor¥' Report 8109 Con601Klated Statément of Financial Activil 10 Con801id8ted Balance Sheet 11 Balanca Sheet 12 Con801idatsd Stalemtnt of Ca8h Flow8 13 Note8 to the Financial Statement8 14to29
Plymouth Highbury Trust Reference and Administrative Details Tru8to8s Wèndy Brimmicombe R08emary Sioggall (resigned 18108123) Hillary H8rrls Philip Fitzsimmons Deborah Branlon Matthew Stewart Victoria Pear80n John Knight Penelope Vvelboume lappoinled 20106r23} Mary Han80n (appointed 191071231 Mgrtin Newman So¢rnt•ry Charlty Regl8trntlon Numb•r 252165 CoMnY R•glstratlon Numb•r 5554535 The charity is Incorporated in England and Wales. Highbury House 207 Outland Road Peverell Plymouth PL2 3PF R•gl•tored Offlc• Audltor Wegtcotts ISWI LLP Chartered accountants Plym House 3 Longbridge Road Marsh Mills Plymouth PL6 8LT Page 1
Plymouth Highbury Trust Trustges, Report The trustee5. who are directors for the purposes of company law, present the annual report together with Ihg financial slalement5 and auditors, report of the charitable company for the yeor ended 31 March 2024. Strudur•p gov•rn•nco and manag•mènt The IrustQgs have adopted the provisions of FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Stalem6nt of Recommended Pr8clice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland (FRS 102) Icharilies SORP IFRS 10211 and the Charrties Ad 2011 in preparing the 8nnual report and financial $latem¢nts of the Ptymoulh Highbury Trust. Our main aclNllies and who w8 try to help are described below. All our charliable aclivi11è8 focu8 in this direction and are undertaken lo furthèr our charilablg purposes for the public bgnefil. The company 18 governed und6r its Articles of A880CKqtlon, under these Artlcleg, one4hird of the trustee3 must tIre by rolalion. Those retiring m8y be reappointed as Trus18es. Trustees afe elected or re-elected al the Annual General Meeting unless a vacancy arises during the year, when the individual is then c(pIed al the next commitlge m¢eting and seNe8 until the subsequent AGM, New Trustees musl sign 8 declaration of willingne88 to act as a charity Trustee befor6 he or 8he may vote at any meetings of Tru8tees. The Trustee8 meet every month. The Manager of Servi¢0$ andlor the General Manager attend to report on the day-ttrd8y actwf(ie8 of the charitable company. Docision8 8re made by majority voting with the Chairp8rson having 8 "c881ing volè" if necessary. A Steering Commrtlee exists consisting of tho Chair, Vice Chair, Manag¢r of SeNic8s, General Manager and Co-opted 8p8cialisl advisors when necessary reporting lo the main committee. Inductlon and trnlnlng of trustèès Newly elected or co-opted Tru8lees are given guidance on the management and operation of the ch8rilable company by the Chair of Trustees and the General Manager. Relevant managemgnl documentation le.g. polic*s directly affecting the Board of Trusleesl brought lo the attention of the Trustee. All Tru8lees are required lo undergo an Enhanced CRB check and references regarding their 8uilability are requested and held on file. Page 2
Plymouth Highbury Trust Trustees. Report Major risks and management of those rfsks The parent charity and its subsidiary undertaking deal with people wrth learning disabilities and all legal and recommended guidance is followed when selecting indwiduals who may be Employees or Volunteers. Also, the parent charity and its subsidiary undertaking have taken out, where possible, appropriate insurance to safeguard ilsew ag8in8t any such risks which may arise in the circumstances. The trustees actively vIeW the major risks that the parent charty and ils subsidiary undertaking face on a regular basis and beligve that maintaining reserves at current levels. combined with an annual review of the controls over key financial systems and other operations. will provide sufficient resources in the event of adverse conditions. Obloctlvei and actlvltlos Thè object of the parent charity and ils sub8Kliary undertaking 18 lo help and advance the education ot people wrth learning disabilrties. This also includes helping their parents. guardian$, relalNes and friends and assisting wrth nationwide studies and research into the causes of leaming disabililios, as well as increasing public awarene$$ of tho ne8d$ of p¢ople wrth leaming disabilities when pursuing fund raising acliviligs. The parent charity 8nd 118 subsidiary ore not pemiitted lo undertake any pemanenl trading lo assist tho laller. These objectivès are carrted out via the folh)wing conslltuent organisalions with thè charilablo company, whose income and expenditure are included in the annual accounts. Highbury Communty Support Service provide5 Day Serv*e opportunities and activili88 in community setting. Highbury Hous8 and The Lodge provide Supported Tenancies lo enable people to live independenlty. Plymouth Advocacy Service is provided in partnership with The Advocacy People and RAO. Plymouth Highbury Trust delivers the IMCA, DOLS & Care Act advocacy for the Ctty. Plymouth Parent Advocacy Project ¢Jeliver8 8pecialisl 8dvocacy for parents who have 8 learning disabilty whose children are p8rt of 8 Chlld Protection Plan or undergolng Child Care Proceeding8 WISER - Women in Safèr and Empowéring Relalitsnships. A sorvi¢¢ for women with learning disabilities or boarder line learning dis8bililies who are affected by Domestic abuse Appoinleeships for people who require support to manage their finances. Orbrt club a day time service providing a variety of activities. Social Club 15 open to people with leaming disabilities over the age of 16 years. A8 with all charitse8, the parent charity and it8 subsldiary undertaking afe very reliant on donallons and bequests and on behaff of the parent charily and it8 subsidiary undertaking, the Committee would like lo thank all those donors and volunteers who havg and continue to give their money andlor limo lo enable the parent charity and its subsidiary undertaking to continuo their charitsble work, Achlevements and pgrfornance The parent charity and ils subsidiary undertaking continue to perfom well both operalionalty and financially. Feedback on all Servicos through formal evaluations remain extremely positive. The parent charity and rts subsidiary undertaking continue lo provide services for approx 400 people wrth Learning Di88bilities within the Cty of Plymouth. The parent charity 8nd its subsidiary undertaking continue disCU5sions with Plymouth Soci81 Services Department and the Plyrnoulh C¢mmuni(y Healthcare lo lo continually develop services lo meet the requiremenlslpolicies of contractor5 and the needs of people with Learning Disabilities. Page 3
Plymouth Highbury Trust Trustees. Report Financial review The Consolidated Statement of Financial Activf(ies shows that incoming resource8 for the year re £1,543,486 and reserves at 31 March 2024 were £1,364.141. £212,396 of the ro$etves are restricted, the rest are unreslricled. The to181 expenditure on the parent ¢harity and ils subsidiary undert8king's objectwes during the reporting period was £1,528,120. The financial positKJn of the parent charity and ils subsidiary undertaking remains sound, refledlng th8 policy as far as possible of prèvénllng deficits arising and by maintaining a healthy investment reserve. The parent charity and rt3 sub¥idiary undertaking end88vour to a¢hieve an annual surplus balance of nel incoming re80urces of unreslricled fund6. Inv&*menl assets ar8 available to Pfovidg addtiion81 funding when this siluatlon 18 drfferent. Policy t)n resofvos 11 is not considared that th8 parent charity and its subsidiary undertaking's re$¢ws are excessive in relallon to ils annual expendrture due to it being very difTicult labng wrth other chariliesl lo pwdict its non-inv88tmenl and rent81 income level from year to year. Liquid re8eryes al 31 M8rch 2023 amounted lo £570,202 which equate3 lo just over 4 month¥ running c08ts al current lo18. The trustees conlinuou81y monrtor re8erve8, Investment pollcy •nd obJectlv•s The P8rent charity and it8 sub8idi8ry undertaking's inveslmanl polScy is lo èncourage growth by inve81ing in low to mid ri8k inveslmenl8 which produce predictable and regular annual income In order lo meet the charflY8 f•cuTnng obligations. Plans for future porlod8 The parent charrty and 118 sub8idiary undertaking W11 continue lo develop rts servie8 provision to meet the needs of ptrop wlth Leamlng Disabiliti'es and to mael the r8quirem¢nts ol changing policyllegi81ation. Page 4
Plymouth Highbury Trust Trustees, Report Statemènt of trustees. responslbilities The trustees (who are also the d1clOr8 of Plymouth H*Jhbury Trust for the purposes of company lawl are responsibl8 for preparing th¢ trustees, report and the financpl slalemenls in accordance Wrth applicable law and United Kingdom Accounting Stsndards IUnf(ed Kingdom Generally Accepted Accounting Practieel, includin9 FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requifes the Iruslees lo prepare financi81 ststements for each financial year. Under company law the trustees musl not approve the financial slalemenls unless they are satisfied that they give a Ifue and fair view of the slate of affairs Jf the parent ¢harilable company and the group and of the incoming resources and application of resources, including ils income and expenditure, of the charitsble group for that period. In preparing these financial slalemenls, the trustees are required lo.. $818ct suitable accounting policia$ ontj apply them con81slenlly', observe the methods and principles in the Charities SORP., make judgamenls and 881imales that are reasonable and prudent., slate whether applicable accounting Standards, comprising FRS 102 have begn followed, Subject to any materi81 departures disclosed and explained in the financial slalemenls., and prepare Ihg financial st8temenls on the going concern basi8 unle88 11 is inapproprBte lo presume that the parent charitsble company will continue in busingss. The trustees are responsible for keeping proper accounting records that can disclose with roasonable accuracy at any lirne thè financ1 position of the parent ¢h8rttable company and the group and enable them to ensure Ihot the financial slalemenls comply with the Companies Act 2006. They are also re8pon8ible for safeguarding thg a$$¢ls of the parent charrtable company and the group and hence for tsking reasonable steps for the prevention and detection ol fraud and other irregularit9. The Iruslees are responsible for the m8int8n8nce and integrity of the corporate and financial Information included on the charitable comp8ny'8 website. Legislation governing the preparation and di88emin8tion of linancial slalements may diffor from le9i518lion in other jurisdictions. Dlsclogure of Infomiatlon to audltor Each trustee has taken steps that they ought lo have 18ken as a Iruslee in order to make themselves aware of any relevant 8udil information and to e61ablish Ihal the charity's audrtor is aware of that inf¢rmalion. The trustees confirm that there is no relevant infomiation that they know of and of which they know the audrtor is unaware. The annual report was approved by the trustees of the ch8rity on bohaff by and signed on its Wendy Brimmicomte Trustee Matt ew Stewart Trustee Page 5
Plymouth Highbury Trust Independent Auditor's Report to the Members of Plymouth Hlghbury Trust Opinion We have audited the fi'nancial slalemenls of Plymouth Highbury Trust {Ihe 'charit8ble parent eomp8ny'} and ils subsldiaries Ilhe 'group'i for the year ended 31 March 2024, which comprise the Consolidated Slalement of Financial Activities, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Cash Flows and Note8 to the Financial Stslements. including 8 summary of significant accounting policig$. Tho financial reporting framework that has been applled In their preparab'on is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ire5and' and applicable law {Unrted Kingdom Generally Aecepted Accounting Practice). In our opinion the financial slatemenls.. give a true and fair view of the slalo of the group'$ and parent charity's affairs as al 31 Mar¢h 2024 and of its incoming resources and application of re80urces, including its income and expenditure, lor the ye8r then ended; have been property prepared in aGcordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in acGordance with the requirements of the Companie8 AGI 2006 and the Charities SORP. 8••SJ for oplnlon We conducted our audit in accord8nce with Inlemalional Stsndards on Auditing (UK) IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the auditor re5ponsibililie5 for the audit of the fi'nancial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant lo our audit of the financial slalemenls in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical rÈ$pon$ibiliti¢$ in a¢cordanee wi(h these requirernanl$. W& believe that the audit evidence we have obtained 18 8ufficienl and appropriate lo provide a basis lor our opinion. Concluslons rglatlng to going concgrn In auditing the financial slalements, we have concluded that the Iruslee8 U8e of the going conc8m basis of accounting in the preparation of the financial stalem&nls is approprlale. Based on the work we have performed, we have not identified any material uncertainties lating to events or conditions that, individually or collectively, rnay ca51 significant doubl on the group's ability lo continue as a going concern for a period irf al least tsvelve months from when the original financial stslemenls were authorised for issue. Our re5ponsibililies and the responsibilities of the Iru8tee$ with respect to going coneern are descnbed in the relevant sections of this report. Other infomiation The trustees are responsible for the other infomiation. The other infornalion comprises the information included in the annual report, other than the financial slalemenls and our audilols report Ihereon. Our opinion on the financial sla18ments does not cover the other information and. except to the extent otherwise explicrtly slated in our report, we do not express any fomi of assurance conclu8lon thereon. Page 6
Plymouth Hlghbury Trust Independent Auditor's Report to the Members of Plymouth Highbury Trust In connection wth our audit of the financial statement$, our responsibility is lo read the other infomiation and, in doing so. consider whether the other inlomialion is materially Incon8islenl with the financ1 slalements or our knowledge obtained in the audit or otherwise appoars to be materially misslaled. If we identify such material inconsistenc$ or app8renl malenal misstatements. are required lo determine whether there is a material misststement in the financial statements or a material mis6talement of the other infomalK)n. If, based on the work have perfomied, we conclude that Ihore is a material misstatement of this other infomialion, we aTe required to report that fact. We have nothing lo report in this regard. Oplnlon on othfrr mattgr prescrib•d by the Companle8 Act 2006 In our opinion, bosed on the work undertaken in the course of the audit.. the inform8tion given in the and Trustees. Report for the financial year for which the linancial slal8m8nls are prepared is consistent wth the financial slalemenls., and the and Trustees, Report have b¢en prepared in accordance with applic8blo l•gal fequiram8nts. Mattgrn on whi¢h we are requlred to report by exception In the IvJhl of our knowledge and understanding of the group and the parent ch8rilable company and ils environment obtained in the course of the audit, we have not idenllfied materi81 misslalements in the and the Trusteès, Report. We have nothing lo report in respect of the following matters where the Compani88 Act 2006 requir•8 us lo report to you if, in our opinion.. adequate accounting ro¢ords have not been kept by the parent charitable company, or retums adequate for our audit have not been received from branches not visited by us., or the parent charil8ble company financial statements are not in agreement with the accounting recordg and relum$.' or cetsin di$¢losur88 of Iru8lee8 remuneration specrfied bylow are not made.. or we have not received all the information and explan8tKin8 we require for our audf(. the Iruslees were not enlilled lo prèpare the financial statements in aOrdanCe with the small companie8 gIMe and lake advantage of the small companies, exemptions in preparing the TNylees' report and from the requirement lo prepare a strategic roport. Rtsponslbllities of truste A8 explained moro fvlly in the Statemanl of trustees, responsibilities l¥el out on page 51, the Iruslees are responsib for the proparalion of the financial slalements and for being satisfied that Ihey gNe truo and fair view, and for such internal control as the trustees determine is necessary lo enable the preparation of finan¢ial slalements that are free from material misslalement. whether due lo fraud or error. In preparing the financial st8temenls, the Iruslees are responsible for ass8s8ing the charity'5 ability to continue as a going concem, disclosing, as applicable, mallers rèlated 10 90ing concem and using the going concern basis of accounting unles5 the trustees oither intend to liquidate the charity or to cease operations, or have no realistsc altemative bul lo do 50. Page 7
Plymouth Highbury Trust Independent Auditorfs Report to the Members of Plymouth Highbury Trust Audltor responsibilities for the audlt of the flnanclal statsments Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl, whether due lo fraud or emr, and lo issue an 8uditorf8 report that includes our opinion. Reasonable aSsuT8n is a high level of assurance. but is not a guarantee that an 8udf( conducted in accordance with ISAS IUKI will always delect a material mis$tsl¢ment when il exis15. Misslalemenl$ ¢an ari$¢ from fraud or effor and are considered material if, individually or in the aggregat8, they could roa59nabty be expected lo influence the economic decisions of users taken on the basis of these fin8ncial slalements. The extent lo which our procedures are capable of detecting irregulariti68, indL*ding fraud 18 detailed below.. We identified areas of laws ond regulations that could reasonably be expected lo have a material effect on the financial statements from our general commercial and sector experience and through di8CUS8ion wrth the directors and other management, no issues were noted, We communicalgd identified laws and regu18tions throughout oui team. and remained alert lo any indications ol non-compliance throughout the audit. The company is subject lo law8 and regu181ions that govern the preparation of Ihe fingn¢ial slalements, including flnancial reporting legislation, and other companie8 legislation. The company 15 also subject to other lows and regulations where the consequences of non-compliance could have a material impact on the amounts or disclosures within the financial Statements, including employment. antbribery and anli-money launderin9. Owing ta the inherent limilalion8 of an audit, Ih8re 18 an unavoidable risk that we may not h8VO detected some material misstatements in the financial slalements, even though we have proper planned and performed our audit in accordance with auditing standard8. In any audit, there remains a higher risk of non418lection of irregularitiès. as these may invofve collusion. forgery, intentional omissions, misrepresentations, or Ihe override Of inl¢mal controls. We are not responsible for preventing non-compliance and cannot be expected lo delect non-compliance with all laws and regulations. A further description of our responsibilities is av8i18ble on the Financial Reporting Council's wabsile st.. www.frc.org.uklaudilorsresponsibililies. This description forms part of our auditor's report. As part of an audit in accord8rsce wrth ISA5 IUKI, we trx•r¢ise professional ludgernent and malntsin professional sceplici8m throughout the audit. We 8180.. Identify and assess the risks of material misslalemenl of the financial slatemenls, whether due lo fraud or error, de8ign and perform audit procedures responsive to those risks, and obtain audit ewdence that 15 sufficient and appropriate lo provide a basis for our opinion. The risk of not delecling a rnalerial misslalemenl rèsulting from fraud is higher than for one resulting from error, as fraud may invofve collusion, forgery, inlenlDno1 omissions, mi3ropresentalions, or the override of inlemal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstsnces. but not for the purpose of expressing an opinion on the effectivene55 of the group's intemal control. Evaluate the appropri8lene5s of accounting policios used and the reasonableness of accounting estimates and related disclosures made by the trustees. Page 8
Plymouth Highbury Trust Indepondent Auditorfs Report to the Members of Plymouth Highbury Trust Conclude on the appfoprtateness of the trustees use of the going concern ba¥1$ of accounting and, based on the audit evidence obtained, whether a material uncertainly exists related to events or conditions that may cast 8ignrfic8nt doubl on the group's or the parent charitable companls ability to continue as a going concern. If wè conclude th8t e material uncertainty exists. we are required to draw allènlion in our 8uditorfs report to the related disclosures in the financial statements or, such disclosure5 are inadequate, to modify our opinion. Our conclusions are based on the audit ewdence obtained up to the dale of our audilorfs report. However, futu events or conditions may cause the group or the parent charitable company to cease to continue 88 a golng concern. ElUate the overall presentation, structure and content of the financiol ststemenls. including the disclosures, and whether the financial slalemenls mpresenl the underlying transactions and events in a manner that achieves fair presentation. Obtain sufficient appropriate audit evidence regarling the financi81 information of tha entities or business octivlties wiihin the group to express an opinion on the financial slalemenls. W¢ are r88ponsible for the dir8Glion, suporvision and perfomance of the group audrt. We remain Solely responsible for our audit opinion. We cornmunicale with those charged with govemance regording. among other matters, the planned scope and liming of the audit and Significant audit finding8, including any significant deficiencies in inlemal control that we identify during our audit. Use ofour r8port Thi$ report is made solely lo the charrtable parent comp8ny'8 Iru8lees, a8 a body, in accordance wrth Chapter 3 of Part 16 of the Companies Act 2Q06. Our audit work has been undertaken 99 that we might slate to th¢ group's tru61888 those matters we are required to Slate to them In an auditor's report and for no other purpose. To the fullest extent pemiitted bylaw, we do not accept or assumg responsibility lo anyone other than tho charitable parent company and ts Iruslee8 88 a body, for our 8udit work, for thi8 report, OT for the opinions we hava fomied. Adam Croney ACA (Senior Slalulory Auditor} For and on behalf of Weslcolls (SWI LLP, Statutory Auditor Plym House 3 Longbridge Road Marsh Mills Plymouth PL8 8LT Dale.. Page 9
Plymouth Highbury Trust Consolldated Statement of Flnancial Activities for the Year Ended 31 March 2024 {Includlng Consolldated Income and Expenditure Account and Statament of Total Recognlsed Gains and Losses) Unrestricted funds Re8trfcted funds Total 2024 Total 2023 Note Income and Endobwnents from: Donations and legacies Charrtable activf(188 Other trading activitb$ Inveslrnent income Other income 108,764 1,265,937 12.212 8.233 9,153 46,375 78,725 15S.139 1.344,662 12.212 8,233 23,220 431,962 1,331,887 10.645 7,289 22.200 14,067 Total income 1,404.299 139.187 1,543,466 1,803.983 Expendltur• on: Raising funds Charitable acllville$ Olhor expendi(ure Total oxpendilure G8insllbsse81 on inveslmnl 888et8 13.7511 11,381,893) 173 13,7511 {1,524.5421 173 13.7241 11.533.320) 8,959 1142.6491 10 11,385.4711 1142,8491 11.528,120) 11,546,003) 21,442 21,442 21,8851 Net incomellexpgnditure) Net movement In funds 40,270 3,482 36.788 236,095 40,270 13,4821 36,788 236,095 Reconclllatlon of fund• Total funds brought I08rd Total funds carrfed forward 21 1,111.475 215.878 1.327,353 1,364,141 1,091,258 1.151,745 212,396 1,327,353 All of the group's aclivi11gs derivè from continuing operalions during the above ttvo periods. The fund8 breakdown for 2023 1$ shown in note 21. The notes on pages 14 10 29 forni an integral part of these financial slalemenl8. Pago 10
Plymouth Hlghbury Trust (Registration number: 5554535) Consolidated Balance Sheet as at 31 March 2024 2024 2023 Noto Flxgd assets Tangible assets Investments 15 474,035 298,584 390,811 276.760 772,619 667,571 Curr•nt a88•ts Debtor8 Cash al bank and in h8nd 17 69,627 570,202 639,829 55,353 898,217 753,570 Creditor¥: Amounts fjlllng due wlthln one year Not Gurr8nt aBs•ts 18 48,307 93,788 591.522 659,782 N•t assets 1.364.141 1,327,353 Funds of the group: Re8trleted Income fund• Restricted fund8 212,396 215,878 Unro•trl¢t•d Income fund• Unrostrlcted funds 1.151,745 1,111,475 Total funds 21 1364 141 1327,353 The financial statements on pages 10 to 29 were approved by tho Irusléas, and aulhorised for i8sue on and slgned en their behalf by.. Wendy Brimmicombe Tru$l¢o ew Slewort Trustee The note5 on page5 14 to 29 fom an integral part of these financial statement$. Page11
Plymouth Highbury Trust (Registration number: 5554535) Balanc• Sh•at as at 31 March 2024 2024 2023 Nots Fixed assets Tangible assets Investments 15 474.035 299.584 773.619 390.811 277,760 668.571 Current a889ts Debtors Cash al bank and in hand 17 18,040 547,710 565,750 36.819 30,025 640,583 670,608 crlt018. Amounts hlllng due wlthln one year 18 74,157 Net curr•nt assets 528,931 596,451 Not 1880ts 1,302,550 1,265,022 Fund• ol tho charlty.. Re8trl¢tèd Income fvnd• Re$lri¢ted funds 212,396 215,878 Unr•8trlct•d Income lunds Unre81ricted funds 1,090,154 1,302,550 1.049,144 Total fund• 21 1,265,022 The finan¢ial slalemen18 on pages 10 10 29 were 8pproved by the trustees, and authori8ed for issue on. and Signed on thair behalf by.. Wendy Brimmtomb8 Tru8tee Matthew Stewart Trustee The notes on pages 14 to 29 form an integral part of these financial statement8. Page 12
Plymouth Highbury Trust Consolidatod Statsment of Cash Flows for tho Y•ar Ended 31 March 2024 2024 2023 Not? Cash flows from opgrating actlvltles Nel cash income 36,788 238,095 Adjuslrnents to cash flo from non4Ash Itemg Depreciation Investment income (Gainslllo$ses on Investment assets 8,10 25.921 18,233) 21,442 22,607 17,2891 21,885 273.298 33,034 Worklng capltal adjuBtm•nt• Increase in debtors (Decreasellincrgase In creditors Net cash flows from operating acliviliè8 CAgh flow8 u80d In Inyostlng actlvltl88 Interest receivable and similar income Purchase of tsngible fixed a8S818 Purcha8e of investments Sale of investments 17 18 114.274) 145,481 19.109) 24,032 26,721 288,221 8,233 1109.1451 13,000} 2.618 7,289 144,1401 132,9781 39.266 15 Nel c88h fli)ws from inve61ing 8CtNilies Nel Idecrea8ellincrea8e in cash and equivalanl$ Cash and cash equivalen18 811 April Cash and cash equivalents al 31 March 101.294 30,563 1128.0151 698,217 257.658 440,559 898.217 570.202 All of th8 ca¥h flows are dOrid from continuing operations during the above riOds. The notes on pages 14 10 29 fomi an integral part of these financial statements. Page 13
Plymouth Hlghbury Trust Notes to the Financial Statemants for the Year Ended 31 March 2024 1 Charity itatu• The Ghority Is limited by guarantee, Incorporated in England and Wales. and consequently does not have Share capital. Each of the tw$le¢$ is liable lo contribute an 8mount not exceeding £1 towards the assets of the charity in the event of liquidaticn. The aédress of its regi5tere(l office is.. Hhbury House 207 Out18nd Ro8d Pev8rell Ptymouth PL2 3PF 2 Accountlng pollclo• Summary of slgnlllcant accountlng Pollcles and key accounting o•tlmate The principal accounting policies applied in thg preparation ol these financial statem8n18 are set out below. These policies have been con3istenlly applied to all the years presented, unl888 otherwise $laled. Stat•m•nt of compllance The financial slalgm¢nt$ have been prepared in accordance with Accounting and Reporting by Charrties.. Slalemenl of Recommended Pradice {applicable lo charities preparing their accounts in 8ccordance with the Financial Reporting Standard applicable in the UK ond Republic of Ireland IFRS 1021} lissued in October 20191 IChaTilies SORP IFRS 10211, the Financial Reporting Standard appllcable in the UK and Republic of Ir818nd IFRS 10218nd the Companies Act 2008. Ba•is of preparotion Ptymotslh Highbury Tru8t meets the definition of a public benefrt entity undor FRS 102. A85el8 and li8bililie3 are initially re¢ognised al historical cost or Irans8clion value unle85 olherwi8e stsled in the relevant accounting policy notss. B••i• of consolldatlon The consolidated financial slalements consolidate the financial $tatom8nts of the ch8rty and its ¥ub¥idKary undertakings drawn up lo 31 March 2024. No slalemenl of financial activities is pr6$&nled for the charity 88 permilled by 88clion 408 of the Companies Act 2006. The charity made a surplus after tax for the financial year of £37,528 12023 £215,003). Page 14
Plymouth Highbury Trust Notes to the Financial Statements for the Year Endod 31 March 2024 A subsidiary is an entty controld by the th8nty. Control is achKgved where the charity has the power to govern the financial and operating wlici88 of an enlty so 83 to oblaln tenefts from ts activities. The results of subsidiarie5 acquired or disposed of during the year ar8 included in the ststement of financial acliwties from th8 effectiv8 dale of acqui511ion or up lo the effectwe dale of disposal, as appropriate. Where necessary, adjustments are made lo the financial statements of 8ubsidiarie$ lo bring their accounting policies into line with those used by the gfotsp. Inler-camp8ny trans8Ctions. balances an¢J unre8llsed g8ins on tranSaCtn$ baen the ¢harity 8nd Its subsidiaries, which are related parties. are olirninated in full. Summary of dis¢losur8 oxèmptlons The enlily satifies th8 cril8ria of being a qualfiying entity a8 defined in FRS102. As such, adv8ntage has bèen taken of the following disclosure exemptions available under paragraph 1.12 of FRS102.' 8} No cash flow 31atem&nl h88 been presented for the cornpany. bl Dis¢lo3ures in re¥pe¢t of financial in8trumenl8 have not been pr850nlèd.. Going concom The Iruslees consider that there are no material uncertainties about the group'y abilily to continu8 88 going concem nor any 8ignific8nt areas of uncertainly that 8ffeel the c8rying value of a58e18 held by the group. Judgoments and koy •OUrc ofejtlmatlon unc•rtalnty The PTepar8lion of the linanci818lalements requires managemgnl lo make judgements. eslimale8 and ossumptions Ihal affect the amounts reported. These eslimotes and judg8m8nls are continually reviewed and are based on experience and other f8clor8, including expeclotions of future events Ih8t are believed to be reasonable under the Gircumstances. The judgements (apart from those invofving eslimalion81 that m8n8gemenl has made in the process of applying the enlily's accounting policies and that have the most significant effect on the amounts recognised in the linancial statements arn as follows.. Delermlne whether the are indicalor8 of impairment of the eompanys langlble 888ets. Factors taken into consideration in reaching such a decision include the economi¢ viability and expected future financial performance of the asset. Other key source8 of estimation uncertainly Tangible fixed os$g18 Tangible fixed assets are dePCIated over their useful lives taking into account residual values, where appropriate. The aGlual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In r6-assessin9 asset lives, factors such as 1g¢hnological innovation, product lrfe cycles and maintenance programme5 are taken into account. Residual value assessments consider issues such as future market nditIonS, the remaining useful life of the a8set and projected disposal values. Page15
Plymouth Highbury Trust Notes to the Financial Statements for the Year Ended 31 March 2024 Income and endowments All income is recognised once the charity has enlillemenl lo the income, it is probable that the income will be received and the 8mounl of the income receivable can be measured reliabty. Donatlons and legacles Donations are recognised when the charty has been notified in writing of both the amount 8nd settlement dale. In the event that a donation 18 subject to conditions that require a levèl ol performance by the ¢harity before the charfty is entitled lo Ihè funds, the income is deferred and not recognised until 811her those conditions ar8 fulty m81, or Ihg fulfilmenl of those conditions is wholly wrthin the control of the chartty and it is probable that those condf(ion$ will b6 fulfilled in the reporting period. Legacy gffts are recogniseil on a c858 by case basis following the grant of probate when the adminislr8torlexecutor for the eslale has communic81ed in writing both the amount and settlgrnenl dale. In the 8venl that the gift is in the form of an asset other than cash or a financial asset traded on recognised stock exchange, recognition is $ubje¢l lo the volu8 of the gift Ing reliably measurable with a degree of reasonable accuracy and the title lo the assgt h8ving been transferred lo the charty. Grants nTrc•lvable Grants are recogni8ed when the group ha8 an enlillemenl to the funds and any conditions linked to the grants have been rnel. Where performance conditions are allached lo the grant and are yel lo be mel, the income is recognised as a liability and included on th¢ balance sheet a8 deferred income to be released. Invastmont Income Dividends are recognised once the divldend ha8 been declared and notIfallOn has been recelved ol the dividend due. Expendlture All expenditure is recognised once there is a legal or constructive oblig81iDn lo that expendf(ure. il IB prob8ble settlement is required and the amount can be measured reliably. All costs are allocated to the applicoble gxponditure h&ading that aggrègate similar costs lo that C8legory. Where costs cannot be directly attributed lo Part[ar headings Ihey have been allocalad on a basis consi518nl w(th the use of resources, wrth central staff costs allOted on the basis ol time spent, and d¢precialion ¢horg93 allOted on the portion of the 888et'8 Use. Other 8UPPOrt costs are allocated based on the spread of staff costs. Ralslng lunds These are cos18 incurred in attracting voluntary income, the management of investment$ and those incurred in trading actNf(ies that raise fund8. Charltable actlvltles Charitable expenditure compri$e$ those eosls incurred by the charty in the delNery of 118 activities and services for ils beneficiaries. 11 includes both c051s that can be allocated direclty to such acts'vities and those costs of an indirect nature necessary to support them. Page 16
Plymouth Hlghbury Trust Notes to the Financial Statsments for the Year Ended 31 March 2024 Taxatlon The charity is considered to pass the tests set out In Par8gr8ph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition of 8 charitable company for UK corporation tsx purpo8e8. Accordingly. the charrty 18 potentially exempt from taxaln in respect of income or capltal gains received within Galegories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to chariiablg purposes. Tanglblg flxed assots Individu•l fixed assets are initially recorded at cost, 1888 arsy 8ubsequgnt acGumulaled depreciation and subsequent accumulated impairment10ss8s. Deprèclatlon and amortlsatlon Depreciation 15 provided on tsngibl& fixad assets 80 88 to write off the cost or valuation, leB8 any eslim8ted residual value, over their expected useful economic life as follows.. A•set ¢1• Fréehold property Fixtures and fillin98 Molo¥ vehKle8 0opreclJtion method and rat• 2% 3lraighl line 20% slraighl line 25% Straight line Impalrment of fl¥ed assets review for indlcators of Impalment Is carrled out 81 each reportlng dale, with the Tecov8rable arnounl being eslimaled where such indicator$ ¢xi$l. Where the carrying value exceeds the recoverable amount, the a88et Is impaired accordingly. Bu¥lnes8 comblnatlons Business combinations are accounted for under the purcha88 method. Where necessary, adjuslm8n18 are made lo the linancial slalemenls of subsidiaries lo bring the accounllng pollcies used into line with those used by the group. All inlro-group Ifan5aclion8, bal8nc88, income and expenses are eliminated on con801idalion. In accordance with Section 35 of FRS 102, Section 19 of FRS 102 has not been applied in these financial statements in respect of business combinations effeGled prior lo the date of Iran$ilKJn. Flxed asget Investment8 Fixed asset inveslmenls. other than programme reLaled inveslmenls, are included at market value al the balanca sheet dale. Realised gains and losses on investments are calculated a¥ the difference beeen ¥ale5 proceeds and their rnart(el value al the start of the year, or thoir Subsequent cost. and are charged or credited to the Statement of Financlal Activities in the period of disposal. Unre81i8ed gains and 1088e8 repre8ent th8 movem8nl in markd values during the ye8r and ale Grediled or charged to the Slalement of Financial Actiwlies based on the market value al Ihg ar end. Page 17
Plymouth Highbury Trust Notes to the Financial Statements for the Year Ended 31 March 2024 Cash and cash equlvalents Cash and cash equivalents comprise eash on hand and c811 deposits. and other short-lerm highly liquid investments that a readily convertible lo a known amount of c88h and are subject to an in8fvjnlf8nI risk of change in value. Fund structure Unrestricted income fund8 are general fund$ that arg available for use at the trustees discTetion in furtherance of the obj¢¢lrve8 of the group. Re$lri¢led income funds 8re those donated for us• in 8 particular area or for specific purposes, the use of which is restricted lo that area or purpose. Flnan¢l•l Inotruments Cl•Jslflcatlon Financial assets and financial liabilities ar8 reco9ni8ed when the group become8 a party to the contractual provisions of the instrument. Financial liabilrties and equty instruments are classtfie¢J a¢¢ording to the Substance of the conlraclual arrangement$ entered into. An equity Instrument is any conlr8GI that evidences a residu81 interest in the assets of the group after deducting all of it8 liabililte8. R•cognltlon and measurnment All fin8ncial a88els and Iwbililies are initialty measured al Iran8action price (including Iranso¢tion C05ts}. ¢x¢epl for those financial assets classified as al lair value Ihrou9h profil or loss, which are initllY measurgd al fair value (which is nomally the transaction price excluding transaction coslsl, unless tho arrangement con8lilul&s a financing Irans8clion, If an arrangement constilules a financing tr8nsaction, the financial asset or financi81 liabilrty is me8sured at the present value of the future P8yments discounted 81 a market rate of interest for a simil8r debt inslrumenl. Flnanclal a88ets and liabilities are only offsèt In the slalemenl of financial posth'on when, and only when there exist8 8189811y enforceable right lo sel off the recognised amounts 8nd the group intends eilhor lo $8tt1e on 8 nel ba818, or to reali8e the as8et and settle the li8bllily 3imultaneous1y. Financial assets are derecogni8ed when and onty when al the contractual rights to the cash flows from the fin8nual asset expire or are settled. bl the group transfer8 lo another party 8ubstsnlially all ol the risks and rewards of ownership of the financial asset, or cl the group, desPrt6 having retained some, but not all, significant risks and rewards of ownership, has transferred control of Ihe asset to another party, Financial li•biliti8s are derecogni8ed only when the obligation specified In the conlrxl 18 dlscharged, caneelled or expifes. P8ge 18
Plymouth Highbury Trust Notes to the Financial Statements for the Year Ended 31 March 2024 Investments Investments in non-convertible prefgrence shares and non-puttable ordinary or preference shares (where shar¢s are publicly traded Dr their fair value is reliably measurable) are measured al fair value through profit or 105s. Wh8fe fair value cannot b9 measured ieliably, inveslmanls are measured al cost less impairnient. Inveslrnen18 In sub8ldiarie8 and associates are measu al ¢o$l le88 impairment. For investments in subsidiaries acquired for consideration including the issue of sharos qualifying for merger relief, cost is measured by reforonce to the nomin81 value of th8 shares issued plus fair valué of other consideration. Any premium is ignored. F•lr valu• measurement The b88t evidence of fair value is a qut)ted price for an identical asset in an activè markét. When quoted prices are un8vailable, the price of a re1 transaction for an identical 88set provides evidence of fair value as long as there has not been a significant ¢h8nge in economic circumstances or a significant lapse of lime since the Ir8nsaclion took place. If the market 15 not active and recent tmn8aclion8 of on identical asset on their own are not a go(>J estimate of fair value, the fair value 16 esllmated by using a valuation technique. 3 Income fr4xn donatlonl and leg¥cl•• Unrg¥trl¢tsd funds General R•#trlct•d fundi Totsl 2024 DonalSon8 and legacies., Donations and subscrfptions Grants, including Gapital grants., Gronl funding 13,340 13,340 46,375 141,799 1S5,139 108.764 Unrestrlcted fund8 General Ro8trl¢tod fund$ Totsl 2023 Donations 8nd legacies,, Donations and subscriptKJn8 Leg8cies Grants, including ¢aplt81 grant8'. Grant funding 3,4 289.795 30 3,528 289.795 42,290 42,320 136,641 431.962 389,642 Page 19
Plymouth Hlghbury Trust Notss to the Financial Statements for the Year Ended 31 March 2024 4 Income from charltabl• actlvltloq Unrestricted funds G•n8ral Restrlcted nd8 Total 2024 Care and Services fee8 Rafreshmants and good6 sold 1,246,919 19.018 78,725 1,325,644 19,018 1,344,662 1,265,937 78,725 Unrestrictsd lunds General Rmtrlctsd fund8 Totsl 2023 Care and service5 fees Refreshments and good8 801d 1,225,482 14,249 1,239,731 92,156 1,317,638 14,249 1,331,887 6 Incomo from othor tradlng actlvltles Unre8trlctod funds Gentsrnl Total 2024 Totsl 2023 Fundrai8ing actNilkg8 12,212 12.212 12.212 10,645 12,212 6 Investment Income Unr•8lrlcted funds Genornl Total 2024 Total 2023 Bank inlgresl Income from listed investments Other investment income 1,062 8,243 928 1,062 6,243 928 197 6,164 928 8,233 8.233 7.289 Page 20
Plymouth Hlghbury Trust Notss to the Financial Ststsments for the Year Ended 31 March 2024 7 Other incom8 Unrestrlctod funds Genernl Restryct•d funds Total 2024 Other income 9,153 14.067 23,220 Unrostrict•d fund$ Genernl R•8trfctgd funds Totsl 2023 other incom• 8,759 13,441 22,200 8 Expendlture on rahlng fund• Unrestrktsd funds Ggn•rnl Total 2024 Total 2023 Portfolio managemonl 3,751 3,751 3,724 g Exp•ndlture on charftsble actlvltles Unrestrlcted funds G8n•r41 Re•trlcted funds Totsl 2024 Total 2023 Staff ¢t5 Sarvices Administrative cos18 Pn)fessional costs Depre¢Katts)n 1,118,967 180,114 13.115 54,080 15,617 1 381,893 116.882 10,875 2,181 2,427 10.304 1.235,849 190,989 15,276 56,507 25,921 1 524,542 1,276,588 177,793 23,220 33,134 22,607 1533,320 142.649 10 Other oxpondlture Unr¢strlctsd fund$ General Total 2024 Totsl 2023 Corporation tax (receivablellpayable by trading subsidiary 173 173 Page 21
Plyrnouth Highbury Trust Notes to tho Financial Statements for the Year Ended 31 March 2024 11 Plymouth Supported Llvlng Llmltgd 2024 2023 Tumover C08t of 88188 Gross profit Dlstribulion costs Administrative expenseB Profft before tax T8x on profrt Profft for the finanaal year 582.764 1486,287} 96.477 133,2991 162,610 568 {1081 460 875,539 {485,8451 189,694 131.6691 {127,9731 30,052 18,9591 21,093 2024 2023 Assets Llabiliti88 74,618 110,828 63.790 83,502 20,1721 63,330 2024 2023 Share capital Profit and Ioss 8ecounl 1.000 62.790 1,000 62,330 63.330 83,790 12 Net Incomlngloutgolng r•sources Net incoming re8ourc88 for the year include.. 2024 2023 Depreciation 25.921 22,607 13 Audltorn. remunèiadon 2024 2023 All non-audil fges Audit of the financial statements 5,300 10,600 3,510 6,970 Page 22
Plymouth Hlghbury Trust Noto5 to tho Flnancial Ststements for tho Year Ended 31 March 2024 14 Staff costs The aggregate payToII costs were as follows.. 2024 2023 Stsff coBts durlng the year w•rn: Wages 8nd $alarie5 Pension costs 1,215,338 20,511 1,235,849 1,175,854 1,195,816 The monthty average number of persons (including senior managemènt I leadership leaml employed by the group tjuring the year oxpressed a8 full lime equivalents was a¥ follows". 2024 No 69 2023 No 70 Total No employe8 received emoluments of more than £60.000 during the year. 15 Tanglblo flxed Js8•ts Group and charlty Fr8ehold Flxtures and property flttlng• Motor v•hlcl•s Totsl Cosl At 1 April 2023 Additions Di8posal8 At 31 March 2024 717,102 92,763 32,664 16.382 30,864 59.855 809,421 109,145 30,864 809,865 18,182 59.655 887,702 D•preclatlon Al 1 April 2023 Ch8rgg for the year Ellminaled on di8p08als Al 31 March 2024 329,228 21,150 29.729 4,771 30,864 59.655 418,610 25,921 30,884 350.376 3,636 59,65S 413,667 Net book value Al 31 March 2024 459 489 14.546 474 035 Al 31 March 2023 387 876 2,935 390811 Page 23
Plymouth Hlghbury Trust Notes to the Financial Statements for the Year Ended 31 March 2024 16 Flxed asset Invo•tmenti Group 2024 2023 Other inv88tments 298,584 276,760 othor Investmonts Llstfjd Invo8trnonts Tot•1 Cost or Valuatlon At 1 Apnl 2023 Revaluation Addition5 Dlsposals At 31 March 2024 276,760 21,442 3,000 2,618 276,760 21.442 3,000 2,618 298,584 298,584 Net book valug At 31 March 2024 298,584 298,584 At 31 March 2023 276,760 276,760 Charlty 2024 2023 ShaTe5 in group und8rtaking8 and participating interests Other Investmènts 1,000 298,584 1,000 276,760 277,760 299,584 Share8 in group undert8kings and partlcip8tSng interests Is made up of the c081 of shares of Plymouth Supported Living Limited. Other investments are the same as held by the group above. 17 Debtorn Group 2024 Charlty 2024 2023 2023 Trade debtors Prepayment¥ and accrued income 52.923 11.824 1,336 7,644 16,704 43,529 16,704 22,381 69.627 55,353 18040 30,025 Page 24
Plymouth Highbury Trust Notes to the Financial Statements for the Year Ended 31 March 2024 18 Cr8ditorn: amounts falling due within one year Group 2024 Charlty 2024 2023 2023 Trade creditors Due to group undertakings Trading subsidlary corporation tsx payable Other creditors Accruals and d¢f¢rred incomè 2,987 8.510 1.117 539 6,286 539 4,937 2,272 38,111 14,470 2.272 32.891 70.808 93,788 67,332 74,157 36.819 19 D&forr•d Incomo 2024 2023 A¥ al stsrt of period Amount rgleased lo Incoming resource8 {9,247) 9,247 Deferred Income related to grants received with specrfic condlanN in prior perlod8. 20 Obllgatlon8 undor lea888 and hlre purchaBO contrncts The lolal value of future minlmum lea8e payments wa$ a$ follows.. Group 2024 Ch•rlty 2024 2023 2023 Wf(hin one year In to five years In over five years 1,416 2,831 1,416 1,416 1,416 2,831 1,416 1,416 2.634 4247 5,466 Page 25
Plymouth Hlghbury Trust Notes to the Financial Statements for tho Year Ended 31 March 2024 21 Fund• Group Balance at Balanco at 31 March 2024 Incomlng Resource• resources •xp6ndod Galn 1088•B 2023 Unre*trfct•d funds Genernl 1,111,475 1,404,299 {1,385,471) 21.442 1,151.745 R•8lrfctgd fund8 Communlty Hall Advocacy 154,569 61,309 110,304) 132,345 {142,649 144.265 68,131 212.396 139.167 215,878 139.167 Total fund• 1,327,353 1,543,466 1.528,120 21,442 1,364,141 Balance at Balance It 1 Aprll 1 Aprll R•8ourceg 2022 2022 expended Balance at 31 M•rch 2023 Galn•l losso¥ Unrn•trf¢tod fund• G•norn1 886,841 1,656,ce8 11,409,547 {21,8851 1,111,475 Ro•trlctod funds Communty Hall Advocacy 164,873 39,$44 204,417 110.3041 126,152 136.456 154,569 61,309 215,878 147,917 147,917 Total fund• 1.091.258 1803,983 1,327,353 1,546,003 21,885 Page 26
Plymouth Hlghbury Trust Notes to tho Flnancial Statements for the Year Ended 31 March 2024 Charlty B•ian¢e at 1 Aprll 2023 Balance at 31 March 2024 In¢omlng Rosources resourG•s expended Gainsl losses Unrtstrl¢ted funds General 1,049,144 821,535 1801,9671 21,442 1,090,154 R•itrkt•d fund• Communty Hall Advocacy 154,569 61,309 215,878 110,3041 132,345 144,265 68,131 212,396 139,167 139,167 142,649 Total fund• 1,265,022 960.702 944,616 21,442 1.302,550 8alance at 1 Aprll 2022 B•lancg at 31 March 2023 Incomlng Re80ur¢•• rosourcei exp8ndod G•ln•l losses Unrestrlcted funds G•n•rnl 845,802 1,061.278 {835,851) 121.8851 1.049,144 Restrlcted fundB Community H811 Advocacy 164,873 39,544 204,417 110,304 1126,152 136,456 154.569 61,309 21 5.878 147.917 147,917 Totol fund• 1,050,019 1209,195 1,265,022 972,307 21,885 The specific purposes for which tho funds are to be applK?d are a8 followB'. The community hall fund represent8 donation8 mad• towards the refurbi8hmenl of the community hall. This was completed in 2011 with the lot81 co81 being £382,627. of whi¢h £288.521 was raised through donations. This Is being depreciated over 28 years. The advocacy fund 15 held lo ensure that there are $uff¢ienl reserve8 to contlnue the advocacy setvices offered by the charity. Page 27
Plymouth Highbury Trust Notes to the Financial Statements for tho Year Ended 31 March 2024 22 Analys56 of net assets betwoon funds Group Unregtrlctsd funds General Totsl fund8 It 31 March 2024 Restrl¢ted funds Tangible fixed 888ets Fixed asset investments Current assets Current li8bilille$ 329,770 298,584 570,424 147,0331 1,151,745 144.265 474,035 298,584 639,829 148,3071 89.405 (1,274) 212,396 Total net as8el8 1,364,141 Unrnitrlcted funds General Total funds at 31 March 2023 R•8trlct6d funds Tangible fixed assets Fixed asset invaslm8nls Current asset3 Current liabilities 236,242 276,760 692,281 193,7881 154,569 390,811 276.760 753,570 193,7881 1,327,353 61,309 Total net assets 1,111,475 215.878 CharY Unr•strlGt•d funds Gon•ral Totsl fund8 at 31 March 2024 Rgstrlcted funds Tangible fixed as8els Fixed asset investments Current assets Current liabiliti86 329,770 299,584 496,345 35,5451 1,090,154 144.265 474,035 299,584 565,750 136,819 89,405 1,274 Total net assets 212.396 1 302,550 Unrostrlctod funds Genèral Total fund8 at 31 March 2023 Rostrlcted funds Tangible fixed 8ssels Fixed asset investments Current assets Current li8bilil*s 236.242 277,760 609,299 74,157 154,569 390,811 277,760 670.608 74,1 $7 1,265,022 61,309 Total net a58e18 1,049.144 215,878 Page 28
Plymouth Highbury Trust Note8 to the Financlal Statements for the Year Ended 31 March 2024 23 Analysls of net funds Group At 1 April 2023 Flnanclng At 31 March cash flo 2024 Cash al bank and in hand 698,217 127,515 570.702 Nel debt 696,217 127,515 570,702 At 1 Aprfl 2022 Flnancing At 31 March cash flows 2023 Cash at b8nk 8nd In hand 440,559 257,658 698.217 Nel debt 440.559 257,658 698217 24 Commltment8 C•pltal commltments Works are being carried out lo in8lall a new lift in premise$ of Ptymoulh Highbury Trust, wlth a total e81imated cost of £197,592. Of thi8 £53,001 ha8 been included in capital expenditure in the currènt poriod, leavlng a commitment at the year end 01 £144,591. Slnce the end of the year, based on updated e¥limales from i$8u88 with work being carried oul the estimated Gog1$ have ineased by £10,565. There were no capital commitmen1$ lo dI8close al the end of the prior period. 25 Trustee8 remun•ratlon •nd exp•n8es NO trustees, nor any persons connected with them, have received any remuneration from the group dunng the year. No IruBlee8 have received any reimbur8ed expen8e5 from the ¢haiity during the year. 26 Related party transactlon8 Charity During the year thg charity made the following related pafty transactions.. Plymouth Supportgd Llvlng Llmlted (Wholly owned subsidiary) At the balance sheet date the amount due to Plymouth Supported Living Limited was £53912023 £5391. Page 29