Company registration number.. 00966770 Charity registration number: 260355 Three Roses Homes Limited IA company limilad by Shara c8pllall Annual Report and Financial Statements forthe Year Ended 31 March 2024 Three Roses Homes Limit6d Contents Reference and Adminislr21ive Details Trustees, Report 2108 Slalemenl of Trusl668' Responsibilities Independent Auditors, Report 8101a Slalemenl of Financial Activities 111012 Balance Sheet 13 Slalemenl of Cash Flows 14 Notes lo the Financid Statements 151025 Three Rosos Homes Llmited R&ferenGe and Admlnlstratlve Details Trustees and Directors Mr CD 8018lridge Dr AA Hare Mr JR Wilson Mrs B Byfield-Jones Mr R Timmins Other Trustees Mrs S Williams Secretary Mr CD Bolslridge Principal Offlcè Three Roses Homes Limited Bromsgrove Road Clènl Stourbridge Wesl Midlands DY9 9QP Company Registratlon Number 00966770 Charlty Reglstratlon Number 260355 Bankers Barclays Bank plc Audltor Ballards LLP Oakmoore Court Kingswood Road Hampton Lovell Droitwi¢h Worcestèrshire WR9 OQH Page 1 Thre8 Ros05 Homes Limited Trustees, Report The Iruslees, most of whom are also directors of the charity for the purposes of Companies A¢1 2006, present the annual r6POrt together with the linancial slalemenls and auditors, report of the charitable company for the year ended 31 March 2024. Objèelives and activitl8S Objects and alins The main objective of the ¢h8rity is lo provide residential care for adults with leaming dlsabilll￿s. The directors have ¢onlinu&d lo meet this objectivè by.. Providing a high slandaid of accommodation al the residential building al Hoty Cross, Clent Ensuring that the manager and her team remain highly molivaled ancl Iiained Pioviding varied activities lo ensur6 (hat all residents remain motivated and enriched Our standards are underpinned by those laid down by the Care Quality Commission ICQC). who inspect th6 home on a regular basis. The Regislerecl Manager is tasked with maintaining these standards. and the Trustees lake advice to ensura any inspections will meet those standards and correct any failings as soon as possible. The Trustees have eslabllshed and iFnplemenled a financial control system, with a view to keep income and costs under control on a monthly basis. Objectlves, strategles and activities The main activity of the ¢harity oonlinues lo be provision of care for the residents, which. with the increasing age and frailty of many of our ress(fenls. we are planning developments within the bullding lo suit their changing needs, with more space for them lo have pea￿ and quiet. In addition lo residential care. we are continuing lo operate day care services. In planning our activities lor the year we kept in mind the Ch8rily Commission's guidanc8 on publ benefit al our Iruslee meetings. Use of volunteWS The directors wish to acknowledg8 the éxcellent contribution made by all the team of staff and volunteers In their efforts on behalf of the charity. P8ge 2 Threo Roses Homes Limited Trustees. Report AGhievemonts and performance Charitable activitles Tha 2023-24 financia5 year marks the 52nd year that the homé has been open. We gr6 pleased to say that Ilie 2024 Health & Safely and Fire Risk Assessments have improved this year, followiiig the improvements that we made lo these in 2023-24. There have be6n no changes to the trustees I directors through the year. Management reslru¢luring during the 2023~24 year, which was ne¢@ssary lor financial compliance and operational Iesilience reasons, has led to increased one.off costs in terms of redundancy pay and professional support over the year, bul this should lead lo cosl-saving from 2024-25 onwards. These changes enabted us lo achieve compliance with Charily Commission requirements oli financial controls, as well as more efficiency and transparèncy in our financial management processes. Fundraising 8Ctlvltles We ￿ntinued fundraising activities in 2023-24, most nol8bly the Autumn Fayre. However, in early 2Q23, our paid part-time fundraiser resigned from her role and we have deferred a decision on employing another pBid fundiaiser, in the meantime belng dependent upon volunteers and staff giving up Ihtslr free lime. In addition, the disestablishment of the Commeicial Manag8r position in May 2023, meant that there was no one whose specific role was lo coordinate the fundraising, ar)d so the Registered Manager has stepped in. Intemal and gxternal factors The liuslees have made a full assessment of the internal and external factors that m8y affect these financial slalemenls. Immediately after Ihe end of our financial year, we obtained a valuation of the property. in rèadinass for the audit that would be necessary with our turnover lo exceed £1 million. We have had Ivll occupancy114 residents) Ihroughoul 2023-24 alongside payment by their funders. resulting in a healthy income. With heavy rain in Aulumn 2023, there have been some issues with the roof. leading lo a modest expendilurts to deal with the immediate problem, plus the conclusion that reroofing would be required within a few yèars with an eslimaled budget in the order of £100.000. Flnan¢ial position The charity is in a salisfaclory financial position with nel assets of £1,594,243 {2023 - £790,366). The slalemenl of financial activities shows an increa8e in funds of £803,877, ￿rnpared lo a reduction of £7,282 in 2023. The increase in 2024 is due to Ihe property ravalualion gain of £702,612. Prlnciple fundlng sources The principal funding sources of the charity are fèes in respect of care piovided, which are charged lo various local authorities and inlegraled care boards. Payment For our day care allendees is made from either their personal funds or their care package. Donations continue lo provid8 a v8luabl8 source of additional income, as wèll as our active local fundraising prograrllme lo improve the fabric of the ploperty and provide additional ￿nefitS lo residents. With no deaths among our residents through 2023-24, this lime there were legacies. Page 3 Threè Roses Homes Limited Trustees. Report ReseNes policy The directors aim lo keep sufficient free reseNes not only to Cover short-lerm fluctuations in cash flow, such as a delay in receiving funding lo provide increased care needs of residents but, furthermore, in the event thal government funding should cease, also lo be able lo enable CBie to Continue in Ihe short-lami whilst residents were re-homed and lo pay staff redundancies. Our regular expenditure has increased significantly in recenl years and, due lo a combination of inflation and the inereasing complex needs of our residents, we have reached the larg81 lovel of free reseNes reqijired at £250,000, approximating lo our anlicipaled aver8g& quarterfy expenditure for 2024-25. We will review the value of the reserves required annually. These reserves exdude funds earmarked for future capital expenditure, currenlly for the anlicipaled new roof. Principal risk5 and uncertaintles The risks relate primarily lo the loss of residents (through death or that we cannot provide the care that they needl, the increasing amount, and hen¢8 cost, of care as residents become more infirm. void periods whist we go through a complex process ol taking on new residents, and the fact that our fees, both for the basic care costs and for 8ddbtional 1..1 care, are negotiated with Social Services rather than diclaled by us as a provider. Future plans The primary objective remains the provision of a safe and secur8 family-like envlronment, in which residential Iwhich m2y include respite carel and day care is provided lo adull special needs service users. The liuslees are awaro that local authorities are under pressure to reduce their Costs, and the funding of social care is not always forthcoming. Our fund-raising policy is based on the day-lo-day cost of running the home being covered by fees. The cost of major essentl818nd various discretionary projects, holidays, outings elc for residents to be met by a combination of local fundrai8ing and appllcallons to granl-making bl accept or assume responsibility lo anyone other than Ihe charilable company and ils Iruslees as a body. for our audit worf(, for this roport. or for the opinions we have fomied. In our opinion the financial slal6mÈnls- gwe a true and fair view ol the stale 91 the charity's allairs as al 31 March 2024 and of Ils results lor the year then ended.. have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have beèn prepared in accordance with the requiromenls of the Companles Acl 20￿. Basis for opinlon We condueled our audit in accordance with Inlernalion81 Standards on Aud6tlng {UKI (ISAS IUKI) and applicabSe law. Our responsibilities undar those standards are further described in the Audilorfs responsibilities for the audit of Ihg financial slalemerbt8 section of our report. We are independent of 1116 cliai'ily iii E)c¢oi-d81)ce will? 11)e elliical iequiiemeiils that are relevaiil lu our audit of the financial slalemenls in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other elhical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relatlng to golng concern We have nothing to Teport in respect of the followinu matters in rÈlalion lo which the ISAS (UK) require us lo report lo you where.. the Iruslees use of the wng concern basis of accounting in tha preparation of the financial stal6menls is not appropriate.. or the Iruslebs have not disc108ed in the fin8ncial slalemenls any identified material uncertainties that may cast significant doubl about the charity's ability lo continue lo adopt the going concern basis of accounting for a period of at least iwelve months from the dale when the financial statements are aulhorised for issue. Other informatlon The Iruslees aré responsiblè for the other informalion. The othèr information comprises the information inclLided in Ihe annual report, other than the financial slalemenls and our audilorfs reporl Ihereon. Our opinion on the financial statements does not cover the other information and, ox¢gpl lo the extent otherwise 8xplicilly slated in our report. we do not express any form of assurance conclusion Ihereon. Page 8 Three Roses Homes Limited Independent Audltor's Report to the Members of Three Roses Homes Llmlt8d In connection with ou¥ audit of thè financial slalemenls, our responsibility is lo read the other information and, in doing so, consider wholher Ihtr olhtsr informalH)n is materially inconsislenl wlh the financial statements or our knowledge obtained in Ihe audit or othewi8e appears lo be malerialty misslaled. If we identify such material inconsistencies or apparent material misslalemenls, we are required to determine whelher there is a material misslalemenl in Ihe financial slalemenls or a material misslalement of the other infoimallon. If, based on thè work we have performed, we conclude Ihal there is a material misslalement of this other information, we al'e required lo report that fact. We have nothing to report in this regard. Oplnlon on other matters prèscribad by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit". the infomalion giv6n in the Trustees, Report for the financial year for which Ihe financial slalemenls are prepared is consislenl with the financial slalem8nls', and the Trustees, Report has béan pr6p8r8d in accordance with applicable legal requlremenls. Matt8rs on which we are requlred to report by exception In the light of our kn¢)wledge and understanding of the company and ils environment Obtained in the course of the audit, we have not identified material misslalemenls in the Trustees, Report. We have nothing lo report in respect of the following mallers where the Companies Act 20Cé requlres us lo report to you if, in our opinion.. adequate accounling rewrds have not been kept, or retums adequate for our audit have not been received from ￿8￿CheS not visited by us,, or Ihe financial statements are not in agreement with the accounting records and relums., or certain disdosLJres of Irusle6s ramun8ralion specified by law are not made,. or we have not received all the information and explanations we require for our audil. Responslbllitles of trustegs As explained mofft fully in the Slalemenl of Trustees. Responsibilities Iset out on page 71, the Iruslees are responsible for the preparation of the financial slalem8ntS 2nd for being satisfied that they give a Iru8 and fair view, and for such internal conlrol as the trustees delemiine is necessary lo enable the preparation of financial statements that are free from material misslalemenl, whether due lo fraud or error. In preparing the financial slalèmenls, the Iru818es ar8 ￿spOnSible lor assessing the charity's ability to continue as 8 going concern, disclosing. as applicable, mallers rèla18d lo going concorn and using the going concern basis of accounting unless the Iruslees eilher intend lo [￿Uldate the charity or lo cease operations, or have no realistic allernalivs bul lo do so. Auditor's respoiislbllltles for the audlt of the financlal stat6mont8 Our objectives are lo obtain reasonable a88urancè about whether the fin8ncial slalemenls as a whale are fre8 from material misslalemenl. whether du6 to fraud or error. and lo issue an auditor's report that includes our opinion. Reasonable assurance is a hlgh level of as8urance, bul is not a guarantee Ihal an 8udil conduded in accordan￿ Mqlh ISAS IUKI will always detect a material misslalemenl when 11 exists. Misslalemenls can aris& from fraud or error and are considered material if, individually or in the aggregate, Ihey could rea80nably be expected lo influence the economic decisions of users taken on the basis of these financial slalemenls. As part of an audit In accordance with ISAS IUKI, we exercise pro18ssional judgement and maintain professional sceplicism throughout the audit. We also.. Page 9 Three Roses Homes Llmlted Independent Audltor's Report to the Members of Three Roses Hom85 Limited Identify and assess the fisks of material misslalemenl of Ihe financial slalements, whether due lo Iraud or error, design 2nd perf￿M 8LKlil procedures responsive lo those risks, ané obtain audit evidence Ihal is sufficient and appropriate lo provide a basis for our opinion. The risk of not delecling a material misslalemenl resulting from fraud is higher than for one resulting from error. as fraud may involve collusion, forgery, intentional omissions, misrepre8enlalions. or the override of internal control. Obtain an understanding of internal control relevant lo the audit in order lo design audit pmcedures that are appropriale in the circumstances. bul nol for the Purpose of expressing an opinion on the effe¢tivanÈ8s of the charity's internal control. Evaluate the appropriateness ol accounting policies used and the reasonableness of accounting estimates and related dis¢losures made by tho Iruslees. Conclude on the appropiialeness of the Iruslees use of the going concern basis of aceounling and, b2sed on the audit evidence obtained, whether a material uncertainly exists related lo events or conditions that may cast significant doubl on the charity's ability lo continue as a going concern. If we conclude that a material uncertainly exists, we are required to d¥aw allenlion in our auditor's report lo the rg18led disclosures in the fillancial statements or, if such disdosures are inadequate, lo modify our opinion. Our conclusions are based on the avdil $viden¢e obtained up lo the dale of our auditorfs ieport. However, future events or conditions may cause the charity lo ¢ease to continue as a going concem. Evaluate the overall pre5enlalion, structure and cenlenl of the financi81 stalemenl8. including the disclosure8. and whelher the financial slelemenls represent the underlwng Ir8nsaclions and events in a manner that achieves fair presentation. Obtain sufficient appropriat8 audit evidence regarding the financial infoimation of the entities or business activities within the charity lo express an opinion on the financi21 slalemenls. We are responsible for the direction, supervision and performance of the charity audit. We remain solely responsible for our audit opinion. We communicate wlh those charged with governance regarding, among other matters, the planned seope and liming of the audit and significant audit findings. including any significant deliciencies in internal control that we identify during our audit. M A Skellum (Senior Statutory Auditor) For and on bahalf of Ballard8 LLP, Statulory Audllor Oakmoore Court Kingswood Road Hampton Lovell Droitwi¢h Worcèslershlre WR9 OQH Dale:i?. . Page 10 Thyee Rosès Homes Llmlted stat8m&nt of Flnancial Actlvltles for the Year Ended 31 Mar¢h 2024 Ilncluding Incomv and Expendllure Account and Statement of Total Recognised Galns and Lossesl Unrestricted funds Restrlctgd funds Total 2Q24 Note Iiicome and Endowments from: Donations and legacies Charitable activities Other trading activities Investment income 3,460 1,018,484 6,188 2,261 3,460 1,018,484 13,973 2,261 7,785 Total Income 1,030,393 7.785 1,038,178 Expenditure on.. Raising lunds Charitable activilies {9061 933,480 19CEI 936,007 2,5271 Total Expenditure 934,386 (2.527 936.913 Nel income 96.007 5,258 101,265 Other re¢ognSsed galns and losses Gainslllossesl on revaluation ol fixed assets Nel movement in funds 702.612 702,612 798,619 5,258 803,877 Reconciliatlon of funds Total funds brought forward 760,879 29.484 790.363 Total funds earried fO￿ard 17 1,559,498 Unrestrlcted funds 34,742 Restricted funds 1.594,240 Total 2023 Note Income and Endowments from: Donations avld legacies Charitable acliville8 other trading activities Invoslmenl income 8,475 740,145 6,044 846 29,484 37,959 740,145 6,044 846 Total Income 755,510 29,484 784,994 Exp8ndlture on: Raising funds Charitable aclivilies 12,898) 789,378 (2,898) 789,378) Total Expenditure Net {expendilure)JI￿ame Net movement in funds 792,276 792.276 36,766) 29,484 7,2821 {36,766) 29,484 17,2821 Rèconclllatlon of funds Total funds brtsughl forward 797,845 797,645 Total funds caThied fotward 17 Page 11 760,879 29,484 790,383 Three Roses Homes Llmlted Statement of Financial Activltles for the Year Ended 31 March 2024 IlnGluding Income and Expenditure Accouiit and Statemant of Total Recognised Galns and L055es1 All of the charity's activities derNe from continuing operations during the above two per1(￿s. Page 12 Thrèe Rosos Homes Llmited (Reglstratlon number: 009667701 Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assots Tangible assels 1.237.327 542,435 Current assets Debtors Cash al bank and in hand 12 25,553 378,107 55,532 212,320 267,852 403,660 Creditors- Amounts falllng due wilhln on8 year 13 46,744 19,921 Net current ass8ts 356,916 247.93fj Net assets 1,594,243 790,3e6 Funds of the charity.. Restrictèd funds 34,742 29,484 Unrestrictèd Income funds Called up share capital Unreslricled funds 16 1,559.498 760,879 Total unreslri¢led funds 1.559,501 760,882 Total funds 17 1,594.243 790,366 These flnanclal sialemenls have been audlled under the requirements of Section 144 of the Charities Ac12011. nci I slalernenls on pages 11 10 28 were approved by the Iruslee8. and aulhorised for issue %9. and signed on theii behalf by.. Mr CD Bolslridge Company Secretary and ruslee Page 13 Three Roses Homes Llmlted Statement of Cash Flows for the Yèar Ended 31 March 2024 2024 2023 Note Cash flows from oporatlng acllvlties Nel cash incom61lexpenditurel 803,877 17,2821 Adjustments to cash flows from non-cash items Deprecialion Investment income Loss on disposal of tangible fixed assets Gains on revaluation of fixed assels 12,028 12.2611 11,067 18461 1,053 702,812 111,032 3,992 Worklng capllal adjustments D8croasellin¢rease) in debtors Increasel{decrease) in CTedilors Nel cash flows from operating activities 12 13 29,979 26,823 121,4811 23,053 167.834 40,542 Cash flows from investing activities Interest ieceivable and similar income Purchase of tangible fixed assets Sale of tangible fixed assets Nel cash flows from investing activities Nel increaselldecreasel In cash and cash equival8nls Cash and cash equivalents al 1 April Cash and cash equivalent8 al 31 March 2.261 {4,308) 846 {20,4421 11 11 2,Q47 19.597 16S,787 212,320 160,1391 272,459 378,107 212,320 All of the cash flows are deiived from continuing operations during the above iwo periods. Page 14 Thrèe Rosès Homes LIMlted Not&s to the Financial Statements for the Year Ended 31 March 2024 1 Ac¢ountlng policlès Summary of slgnlflcant accountlng polici8s aiid key accountlng estlmates The principal accounting policies applied in the preparation of these financial slalements are set oul below. These policies hava been consislenlly applied to all the years pres&nleé, unless olherwise slated. Statement of compliance The financial statements have been piep8red in accordance wilh Accounting and Reporling by Chatili¢s'. Slalemenl ol Recommended Praclice applicabte lo charities preparing their a￿o￿nIS in accorclance wlh the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2019) Icharilies SORP IFRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Compani68 Act 2006. Basis of preparation Three Rosos Homes Limilecf meets the definition of a Pltblic b&nefil enlily under FRS 102. Assets 8nd liabilities are inilially recogni8ed al historical cost or Iran3action value unless olhetwise staled In the relevant accounting policy notes. Golng concern The Iruslees con8ider that there are no material uncertainties about the charilvs ability lo continue as a going concern nor any significant areas of uncertainly that affect the carrying v81ue of 88s81s hald by the charity. Incom& and 8ndowments All income is recognis8d once Ihe charily has enlillemenl lo th& income, il is probable that the Income will be received and the amount of Ihe income receivable Can be measured reliably. Incom8 from provision of seNices is accounted for on an accrua18 basis. Other income is accounled for on a re￿1vable basS8. Donations and legacles Donations are recoanlsed when Ihe charity has been notified in writing of both the amount and selllemenl dale. In the event Ihal 8 donalion is 8ubjecl lo conditions that require a level of perform8nca by the charity before the charity is entitled lo Ihe funds, Ihe income is deferred and not rewgnised until either thosè condilions are fully mel, or the fuifilmenl of those condition5 is wholly within the control of the charity and il is probable that these conditions will be fulfilled in the reporting period. Expenditure All 8xp&ndilure is re¢ognised On￿ there Is a legal or conslruclive obligation lo that @xpendilure, il is probable selllemenl is required and the amount can be measured feliably. All costs are allocaled lo the applicable expenditure heading thg189gregale similar costs lo that category. Where ¢0gls cannot be directly a(Iribuled lo particular headings they have been allocated on a basis consislenl with the use of resources, with ￿ntral staff costs allocaled On the basis ol lime spent, and depreciation charges allocated on Ihe portion of the assÈl'$ USÈ. Other support costs are allocated based on the spread of staff costs. Page 15 Three Roses Homes Llmlted Notes to the Flnanclal Statements for the Year Ended 31 March 2024 Raising fun(ts These are costs incurred in attracting voluntary income. the managément of investments and Ihose incurred in trading activities that raise funds. Gharltable actlvltAes Charitable expenditure comprises those costs incuired by the charity in tha dalivery of 118 activities and services for its beneficiaries. 11 inctudes ljoth costs Ihal Can be allocaled directly Io SL(ch activities and those costs of an indirect nature necessary lo support them. Support costs Support costs include central functions and have been allocated lo a¢tMly cost categories on a basis consistent with the use of resou￿$, for example. allocating propertw costs by floor areas, or par capila, staff costs by the lime spent 8nd oth6r ¢tssls by their usage. Governance Gosts These in¢lude the costs allribulable lo tha charills compliance wl(h conslilulion81 and statutory requirements, inclLTding audil, strategic management and Iruslees's meetings and reimbursed expenses. Taxation The charity is consKlered to pass the lesls set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporation tax purposes. Aceordingly, the charity is potentially exempl from laxalion in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Acl 1992. to the extent that such income or gains are applied exclusively lo Char￿able purposes. Tangible fixed assets Individual fixed assets gre initially record￿ at cost. less any subsequent accumulated deprocialion and subsequent accumulaled impalrmenl losses. Land and buildings Land and buildings are recognised at cost or, if donated, al fair value at the dale of donation. Land is not depreciated as il has an indefinite useful life. Buildings are measured under the revaluation model, i.e. at fair valu6, based on periodlc valuations. Depre¢lallon and amortlsation Depreciation is provided on tangible fix8d asgels so as lo write off the cost or valuation, less any eslimaled residual value. over their expected useful economic life as follows.. A55et class Pianl and machinery Fixture and tillings Motor vehicles Computer equipment Depreclation method and rate 200/0 on cost 20Vo on reducing balance 200/0 on Yeducing balance 33% on cost Page 16 Three Roses Homes Llmlted Notes to the Flnancial Statements for the Year Ended 31 March 2024 Trade debtors Trade debtors are amounts due from CLJslomers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially al Ihe Iransa¢tion price. They are subsequently measured al amortisad cost using thé effective inleresl method, less p¥ovi8ion for Impairment. A prov(sion for the iinpairmenl of trade debtors is established when Ihefe is otrfjeclive ekridence that the charity wdl nol be able lo collect all amounts due according lo the original terms of Ihe receDiables. Cash and cash Aquivalents Cash arKI cash equivalents eomprise Cash on hand and call deposits, and other short-letm highly liquid inveslm&nts that are readily convertible to a known amount of Gash and are subject lo an insignificant risk of change in value. Trade credltors Trade creditors are obligations lo pay for goods or seNices that have been acquired In the ordinary courso ol business (rom suppliers. Accounts payable are classifid as aurrenl liabilities if the charity does not have an unconditional right, al the end of the reporting period. lo defer settlement of the creditor for al least iwelvts months after the reporting dale. If there is an uncondttion81 right lo defer selllement for at least twelve months after the reporting date, they are presented as non-current TTadè creditors aro recognised inilialw at the transaction price and sub88quenlly measured al amortised cost using the effe¢live inlarest melhod. Fund Structure Unrestricted income funds are general funds th81 alè available for use al the Iruslees's discretion in furtherance of the objectives of Ihe charity. Designated funds are unr88lricled funds sel aside for specific purposes al the di8crelion of the Iruslees. R881ricled income funds are those donated for use in a particular area or for specific purposes, the use of which is reslricled lo that area or purpose. Hire purchaso and leaslng commitments Rentals paid under operaling leases are charged lo the Stalamenl of Financial Activities on a slFaighl line basis over the period of the lease. Penslons and other post retlrement obllgatlons The charitable company operates a defined conlribulion pensK)n scheme. Contributions payable lo the charitable companls penston scheme are charged lo the Statement of Flnancial Aclivi1188 in the period lo which they relate. Page 17 Three Roses Hom05 Llmited Notes to the Flnanclal Stalements for the Year End6d 31 Pjjarch 2024 2 Income from donatlon5 alld legacles Unrèstricted funds Total 2024 Total 2023 General Donallons and legacies., Donations from individuals 3.480 3,460 3,460 37.959 3,460 37.959 3 Incomè from charitable a¢tlvltle8 Unrèstrlcted funds Total 2024 Total 2023 General Care Home 1,018,484 1,018,484 740,145 4 Investment income Unrestricted funds Total 2024 Total 2023 Gèneral Interest reC￿Vable and similar income., Interest Yeceivable on bank deposits 2.261 2,281 5 Expendlture on charitable actlvltles Unrostrlcted funds Restrlcted funds Total 2024 Total 2023 General Note Allocated support ¢osls Governan￿ costs 46,920 573 46,920 793 16,487 220 47.493 220 47,713 16,487 Pag818 Three Roses Homes Limited Notes to the Flnancial Statements for the Year Ended 31 March 2024 6 Aiialysis of governanc8 and support costs Governance costs Unrestricted funds Restrlcted funds Tot41 2024 Ger]erdl Olh8r gov8rnan¢e costs 573 220 793 573 220 793 7 Net Incomingloulgolng rasources N81 in¢omingl{oulgoingl resources lor the year include.. 2024 2023 Operating leases - plant and machinery A￿dit fees Loss on disposal of tangible fixed assets Depreciation of fixed assets 9.452 6.000 8,777 1.053 11,066 lQ,858 8 Trust8es remuneratlon and $xpan$es No trustees, nor any persons connected with them, have received any remuneration from the charity duiing the year. No Iruslees have received any reimbursed expenses or any other b8n8fils from lh8 Charity during Ihg year. 9 Staff costs The aggregate payroll costs were as follows.. 2024 2023 Staff costs durlng the year were: Wages and salaries Social security costs Pension ¢osls 657.029 37.555 9.477 539.188 27,539 8,308 575,035 704.061 Th8 monthly avoraga number of full-IMne equivalents (including senior managtsmenl team} empk)yad by the ch21ily was 20 In 2024 {20 In 20231 The lolal averag8 numb8r of persons 8mployed lincuding zero hours conlraclsl was as follows.. Page 19 Three Rosos Homes Llmlted Notes to tha Financial Statemants for thé Year Ended 31 March 2024 2024 No 2023 No Adminislralion Resid8nlial Care 32 30 35 33 No employee received emolumenls of more than £60,000 during the year. 10 Taxation The charfly is a reglslered charity and Is therèfore exempl from laxallon. 11 Tangibl8 fixed ass8ts Furnlture and equlpment Land and bulldlngs Motor vehicles Total Cost Al l April 2023 Revaluations Additions 557,750 702,612 72.430 31.732 661,9fj2 702,612 4,308 4,308 Al 31 March 2024 1,260,362 76,738 31.732 1,368,832 D8preciation At 1 April 2023 Charge for the year 60,362 34,383 10,628 24,732 1,400 1'19,477 12,028 Al 31 March 2024 60,362 45,011 26,132 131,505 Net book value Al 31 March 2024 1,200,000 31,727 5,600 1,237,327 Al 31 March 2023 497,388 38,047 7,000 542,435 Included within the nel book value of land and buildings above is £1,200.000 12023 £497,388) in respect ol freehold land and buildings and £Nil12023- £Nill in respect of lèaseholds. Page 20 Three Roses Hom68 Llmlted Notes to the Flnanclal Statements for the Year Ended 31 March 2024 Revaluation The fair value of the company's Land and buildings was revaluod on 31 March 2024 by SIu8rt Doolillle MRICS of Prescise Commercial Surveyors, an independent valuer. The actual valuation dale was 5 April 2024 but there would be no signifi¢anl change between this date and the y6ar end. Had this Class of asset been Inea8ured on a h181orical cost basi8. their caffwng amount would have been £497,38812023- £497,388)- 12 Debtors 2024 2023 Trade debtors Prepayments 10,076 15,477 25,553 43,130 12,402 55,532 13 Creditors: amounts falllng duè wlthln one year 2024 2023 Trade creditors Other laxalion and social security Other cr6dilors Accruals 23,375 9,117 2,022 12,230 46,744 7,254 7,778 4,889 19,921 Page 21 Three Roses Homes Limited Notes to the Flnanclal Statements for the Year Ended 31 March 2024 14 Obllgatlons under leases and hlro purGhase Gontracts Operating lease commltments Total future minimum lease payments under nonoancellable opèrating leases are as follows.. 2024 2023 Other Within one year Between one and fDie years After five y&ars 3,300 10,740 4,230 8,820 900 14.040 13,950 15 Penslon and other schemes Defined contribution p8nsion schem8 The ¢harily operates a defined conlribulion pension scheme. The pension cost charge for the year reprtssenls conlribulior18 payable by the charity to the scheme and amounted lo £9,477 {2023 £8.308). 16 Share capital Allottèd, called up and fully pald sharès 2024 2023 No. No. Ordinary of £1 each The articles of the company prohibit the paymenl of dividends. Should the company be wound-up, any remaining nel ass&ls must be given lo a charitablè or olhar inslilulion with similar objects. Page 22 Three Roses Hom&s Llmlted Notes to the FlnanGlal Statements for the Year Ended 31 March 2024 17 Funds Balance Balanc8 atl Other at31 Aprll In¢omlng Resources recognised March 2023 resouyces expended Transf8rsgainslllossesl 2024 Unrestrlcted funds General General 760,880 1,030,393 1934,387) 14,166) 702,612 1,555,332 Deslgnated Designated 4.166 4,166 Total Unrestrlcted funds 760,88Q 1,030,393 1934,387) 702,612 1.559,498 Restrlcted funds Reslricted 29,484 2,527 34,742 Total funds 790,364 1.038 178 1938,914 702,612 1,594,240 Restricted funds are made up of varKJus small funds donated for specflc purposes. Designated funds are funds sel aside by the charity lo b8 US8d for residents holidays. Page 23 Three Roses Home$ Llmltod Notes to the Financial Statements for the Year Ended 31 March 2024 Balancè at 31 March 2023 Balance at Aprll 2022 Incomlng resources Resources expended Unrestricted funds General General 795,586 755,510 {790,1971 760,879 Designated Designated Total unrestrlcted funds 2,079 12.0791 797.645 755,510 1792,276) 760,879 Restricted funds Re8lricled 29,484 29,484 Total funds 797.645 784,994 1792,276 790,363 Reslricled funds are made up of a don8lion of £9,465 received from the eslale of Jennifer Cornwell whi¢h are lo be used for a project for the benefit of residents, the nature of which is yel to be decided and £20,019, which was received to be spent on garden related items in the memory of Jonnie Caldwell. 18 Analysls of net assets bfrtween funds Unrestrlcted funds Restrlcted funds General D&signat8d Total funds Tanoible fixed assets Current assots Current liabilities 1,237,327 364,752 46,744 1.237.327 403,660 46.7441 1,594,243 4.166 34.742 Total nel assols 1,555,335 4,166 34.742 19 Analysis of net funds At 31 March 2024 At l Aprll 2023 Cash flow Cash at bank 8nd in h8nd 212,320 165,787 378,107 Nel debt 212,320 165,787 378.107 Page 24 Threè Rose5 Homes Limited Notes to the Financlal Statements for the Year Ended 31 March 2024 20 Related party traiisactlons During the ye8r the charity Madè the following r61ated party Iransactlons.. J C Plant, was a trustee and ig currenlly a shareholdèr. His daughter, Mrs J Seidel. was employed by the charily for part of the year and her gross payroll costs lo 31 March 2024 were £26,582 12023 £32,261). Pa9e 25