Registered number.. 00989820 Charity number: 261726 PURLEY PARK TRUST LIMITED IA company limited by guarantee) GOVERNORS, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
PURLEY PARK TRUST LIMITED IA company limited by guarantee) CONTENTS Page Reference and administratlve details of the Charity, its Governors and advisers Chairman's statemènt Governors, report Independent auditor5, report or) tlie firiaiiLi&il statefflents Statement of finanGial activities 4-13 14-17 18 Balance sheet 19 Stalemerst of cash flows 20 Notes to the financial statements
PURLEY PARK TRUST LIMITED IA Company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS GOVERNORS AND ADV]SERS FOR THE YEAR ENDED 31 MARCH 2024 Governots Mr S R Barstow Mrs A Cullimore-Todd Mr L D Jones OBE FCCA, Treasurer Miss R Keellng, Chalr of Trustees Mrs S Robinson (resigned 26 July 20241 Mr C Trickey Mrs S Vandersleen Mr % Lp.wis lappointÈd 27 April 20231 Governors, who are Trustees, are appointed by the existing Governors and Confirmed at the Annual General Meeting. They seNe for a term of three years, when they may submit themselves for re-election. The Chairman is elected by the Govemors and may serve as Chairman for no more than Iwts consecutive terms. Company registered number 00989820 Charity rp.gi*tered number 261726 Registered office Pudey Park Trust, 12 Huckleberry Close, Purley-on-Thames, Reading, Berkshire, RG8 8EH Company secretary Mr L C Grady Senior management team Larry Grady, Chief Executive Officer Karen Taylor, Head of Finance & Resources Debbie McKay, Training & Development Manager Independent auditors James Cowper Kreston Audit, Reading Bridge House, George Street, Reading, Berkshire, RG18LS Bankers National Weslminsler Bank Plc, 74 School Road, Tilehursl, Reading, Berkshire, RG31 SST Solicitors Field Seymour Parkes, 1 London Street, Reading, Berkshire, RG14QW Page 1
PURLEY PARK TRUST LIMITED IA company limited by guarantee) CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 The chairman presents hèr slalemenl for the year. I must begin by offering my sincere thanks lo my fellow Trustees and the officers and staff of the Trust for the way they have continued lo respond lo the wide variety of challenges presented by the current economic environment For another year we have continued lo èxpand our services in a sustainable mann&r and extend our reputation for providing services of a very high quality. We have continueo our considerable Investment in improving and maintaining the quality of our established services. We have also continued lo acquire new properties in order lo provide new supported living services with young people and their families. These serdi¢es help people lo live independently, lo have choi¢e and control over their lives and who they live with, within the communitie5 they have grown up in, and lo remain in Close contact with their families and friends. Over little more than a decade the supported living seril¢e has grown from noihing to a service comprising a number of very allraclive owned or rented properties in the community. These properties provide ex¢ellenl accommodation for 29 lenallls. In this financi21 year we have also deregistered and refurbished one ol our Care Homes lo provide more high quality supported living accommodation. This has been achieved in a manner that genuinely works in partnership with people we support and their families lo do things beller. As part ol our non-funded commitment lo the people we support and the wider community. our'social hub, al the Rei11y Rooms offers a vibrant environment for people lo spend their leisure lime, engage in new experiences, learn new skills and undertake paid employment. The demand for our services is very high ancl reflects our good reputation wlh our commissioning authorities and our popularity with the people th21 use our services and their families. Almost all of our referrals are still generated through word of mouth recommendations, and this very much matches our vision and values. The people we support continue lo be our main priority, and this is reflected in how WÈ priorilise our resources and inveslmenls. We ¢onlinue lo focus on providing excellent support for them and if we gel this right, there is little need to invest in rnarkeling and advert15ing. We not only think that thi5 IS an ethical way to proceed, bul il also helps us achieve our aims of being lean and efficient. Our overhead costs are much lower than comparable organisalions because.. we don't waste money on things that don't have a direct impact for our beneficiaries we aim lo deliver the things we need to with as much efficiency and a5 little waste as possible We are receiving referrals for Care Homes Services, Supported Living services, Domiciliary Care and Day Serdices at an increasing rale and we anlicipale that this trend will continue. We will ¢onlinue lo develop our services in the forthcoming year in line with our ¢ommilmenl lo enable people with local connections lo gel the support they need within their own communities. The cost of living crisis continues lo have a serious impact on our ability lo maintain our services to the high Standard we expect. Thi3 impact is particularly marked in the folluwiny ie¥peGtb. The finan¢ial pressures upon Local Authorities and other agencies who purchase our services. The challenges of working with new commissioning aulhorilies, such as Inlegraled Care Boards, who do not have experience of working in partnership with community based organisalions the ¢051 of maintaining the staff and support systems needed lo meet the increasingly complex needs of new referrals. the cost of training and support lo ensure our staff have the necessary skills, knowledge and Gommilmenl. the regulatory pressures that require investment in activities and processes that we ourselves do not necessarily identify as essential. continued investment in our current services to ensure they continue lo provide a safe, comfortable and pleasant environment the development of new, bespoke, services that are designed around the needs of people we already support or who cannot find the support they need elsewhere. Page 2
PURLEY PARK TRUST LIMITED IA company limited by guaranteè) CHAIRMAN'S STATEMENT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 In particular, the critical shortage of staff in the wider social care sector and the many laclors that are likely lo make this worse I musl emphasise the vital importance of a ski51ed and moliv81ed workforce and healthy organisalional Culture to the success of our charity. Our staff and Managers are the most important factor in deletmining the quality of the serdices we provide and we work tirelessly lo develop and sustain a culture and environment in which everyone feels valued and are empowered lo use their skills and inilialive. Our objectives lor the coming year reflect the themes over recent years and include.. Enoaging with our partner agencies lo ensure that OUT services continue lo meet their comrnissioning needs. Continuing lo invest in innovative ways lo support the independence and safety ol the people we support. Increasing the effectiveness of 5UPPOrt and coaching for our staff teams Ensuring that we have a clear 'career progression, ladder that promotes staff development, motivates talented staff lo remain with the Trust and enhances our su¢¢ession planning M8intaining the support systems necessary for supporting people with very complex needs Continuing lo devolve decision making. Within a ¢lear strategy and vision for the Ttusl, most decisions should be made as close lo, and with as much involvement of, the people we support as possible, Progressing our plans lo re-develop some of our Care Homes lo ensure that the accommodation we provide Can continues to meet the needs ol the people we support. Engaging effectively with ciur local community In ways that benefit the people we support. Maintaining a recruitment 51rategy that ensures we ¢an continue lo allracl people with the right values, skills and Commitment. Ensuring that our leaders can focus as much lime and energy as possible on ensuring we provide excellent support for every person, all of the lime Continuing lo be a leader in our field. We have always sought lo allrad and relain the best staff through paying competitive salaries and by ensuring that tho TrLlSt is a grp.at p12r.p. tn work In the coming year we will continue lo benchmath. salaries at 811 levels of the organisalion lo ensure that they are within the lop len per cent of salaries in our area for Comparable roles. In view of how low salaries are in social Care when Compared with other foms of employment, we are aware that in terms of fairness and ¢ompetilivenes5 we may also need lo benchmark against skilled roles outside social care ernpSoymenl, The proper governance of the Trust conlillues lo be a high priority for the governors. The TrLJsI is lucky lo have such a cotmmilted and skilled group of Truslees.11 has been an honour and pleasure lo have been elected as the ¢hair of Purley Park Trust and I think il says a great deal about us that someone who joined many years ago as a Support Worker is now in this role. Finally, I would like to thank our CEO, the Senior Leadership Team 2nd all of the staff al Purley Park TrLJSt for their continued dedication, hard work and the very real differen they make lo the lives of the people we support. R Keeling Chair ol Trustees Date.. Page 3
PURLEY PARK TRUST LIMITED IA company limited by guarantee) GOVERNORS. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Governors (who are also the directors of the ¢harily for the purposes of the Companies Acll present their annual report together with the audited financial slalemenls of Purley Park Trust Limited Ilhe charilyl for the year ended 31st March 2024. The Governors confirm that the Annual report and financial slalements of the charity Gomply with the current slatulory requirements , the requirements of the charity's governing document and the provisions of the Slalemenl of Recommended Practice ISORPI, applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, effective January 1 sl 2019. Objectives and Activities Charitable objects The Governors, as Trustees of the Charity, mindful of th& Charity Gomrnission's guidance on 'Public Benefit, are satlsfied that the Memorandum fullils the criteria and that the activities of the Trust are wholly and exclusively for the public benefit. All the beneficiaries of the Trust's aims and activities are people with a learning disability lin many cases with other forms ol disabililyl or other cognitive impairment, who are unable lo live fully independently. How much support people need, and how they wish this lo be provided, is a very individual maller bul all need help with some or all aspects ol their daily lives,. empowering and enabling them lo lead rewarding and fulfilling lives is fundamental lo the Trust's values. What we aim to do To provide excellent ac¢orllmodalion and support for adults with learning disabilities who are unable lo lead fully Independent lives. To make sure that people are living in safÈ, healthy environments that reflect their needs and wishes. To develop new setvices in partnership with people so that they live where they want, with who they want lo live with. To ensure that when people 8re sharing their a¢¢omrModalion in situations that may restrict some of these choices, we will do whatever we can lo make sure that people like and gel on with the people they share with. To work with each of the people we support to make sure we are clear what support they need and how they want il lo be provided. To work with eaGh of the people we support to make sur¥ Ilidl we kriLTrW what is important to them and make sure those things happen To build excellent relationships with each person we support and, where appropriate, help maintain circles of support around them, including the people that are most important lo them To make sure that people are supported to make the decisions that affect their lives and, where they are not able lo do so, that decisions are based upon what those that ¢are about them think they would have made To support people lo identify and achieve changes that they want lo make in their lives Our Vision. Wa will be known for our inlegrily, our passion and our commitment lo getting things right for each person we support. Our Values Everyone Counts - we will support each other lo make this a great place lo work and ¢hallenge each other lo make things beller Respect and Dignity- We will show care, compassion and respect in everyLhing we do and say Commitment lo Quality ol Life- We will be passionate, dedicated and determined lo do an excellent job. We will t@11 esch other whon things go reslly well. Working Together We will striv8 to improve what wtt do. We will build partnerships and work together lo make things beller. Compassion - We will listen, understand and learn so that we can support people in the way that works best for them. We will never forget that the only reason we are here is the people we support. Page 4
PURLEY PARK TRUST LIMITED IA company limitèd by guarantee) GOVERNORS, REPORT ICONTINUF.ni FOR THE YEAR ENDED 31 MARCH 2024 Improving Lives happen. We will find out what's important lo each person we support and help them lo make il How we meet our aims and values We have eight houses at our main sile al Purley Park, seven of which are registered as a care home servi for accommodation and support. They are home lo a lolal of 52 people (when fully occupied). They are all purpose built, bul vary In size and style with bebNeen five and elght people we sUPPOrt in each. EdLlI liuuse Is domestic in scale arid furnished lo a high standard, bul wrth appropriate specialised equipment and We also provide Supported Living Services in our local cornmunily," currently we support 29 people in their awn hornes. We are registered with the Care Quality Commission as a Domiciliary Care Agency, so that we can provide personal care for those people that require it. In October 2019, Mill Lane Lodge was added to the portfolio of services that we manage. This property currently supports 8 people in a large property in 3 a¢res of land, offering unique opportunities We provide Day Services for people who live al Pudey Park and also for a small number of people who live elsewhere lon our main sile in Purley and al Mill Lane Lodge, in Padworthl The Managers and staff that provide our services are our gre31esl asset. They artt 811 trained and skilled, with a high proportion having many years experience and advanoed qualifications. We provide the majority of this training ourselves so that we can be certain that il equips our staff effectively to carry out their roles and matches our values and expe¢talions. We plan Carefully with each ol the people we support so that we can meet their needs and wshes. We also encourage and enable the people we support lo lake part in a wide range of activities. Our Day Sepii¢es Staff, together with other organisalions, provide opportunities for the people we support lo develop their life skills to help them lo lead as independent and inclusive lives as their abilities allow. How we measure our 5u¢¢ess in achieving our aims and objectives The single most important rlleasure of our success is the experience that the people we support lour beneliciariesl have of being supported by us,. by ils very nature this 15 a subjective judgement bul our success is reflected in thÈ pÉrson21 stories of A.ar.h p?r8nn we havé the privilege lo support. Our most effective ways ol measuring our succèss depend upon the close and enduring relationships that staff al all levels tsf the Trust have with the people we support. This is assisted greatly by the limitations we impose on the number of people we support and the tight geographical LOlI0n ol the services we offer. We invest heavily in the living environments we provide lo make sure that they are nice, safe places lo live that maximise peoples, quality of life and independence. Recent examplès of the level of commitment we make lo help people lind an environment that works for them include the purchase ol a bungalow and building an annexe on lo a property for hmo young men that we support, when their relationships with people they live wrth had become strained. These investments have enabled them lo carry on living near their farnilies, in their local communities. We 81s0 have a comprehensive range of internal quality monitoring tools that help us lo assess how well each of our services is meeting the needs and wishes of each of the people we support. We facilitate an annual review for each of the people we support lo as51St them land people who know and care about them) lo tell us how well we are doing and what they want us lo change, do beller or help them with over the following year. We pay great attention lo feedback we re1ve from people we support, their families and all of the other people we Gome into contact with when doing our work. We welcorlle complaints las opportunities lo learn and to improve what we dol and compliments las evidence that we are doing things welll. Page 5
PURLEY PARK TRUST LIMITED IA company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Reputation is a difficult thing lo measure but anecdotal ewdence suggests that il is very strong,. we re¢eive far more referrals than we are able to manage and the way we receive them is also informative.. most referrals are from professionals that have worked with us in the past other referrals have come from people who do not know us, bLJI have been told good things about us we received a referral from a health professional that we work closely with and who has a close relative tliiil requires support- as close to the Care Quallty Commission's 'MLJm Test. as we are likely to get. We also welcome the rigorous quality monitoring inspections we receive from external bodies, including.. The Care Quality Commission, who have assessed all of our services as meeting a 'Good' standard ol care, with some services rated as 'Oulslanding' in areas of their work. Wesl Berkshire Council, who have given us very positive feedback following their qu81ily monitoring visits lo services Local Environmental Health inspections, whioh have assessed all of our Care Homes as meeting very high standards Review of the past year and what we have achieved As in previous years, our main achievements are reflected within the personal stories of the petsple we support and their friends and familiès. In nrdgr trj qiippr)rt pp.opl•. lo make these changes WÈ need to retain a focus on our viability and integrity as an organisalion, relating lo which the main objectives that we set ourselves last year were". lo maintain high o¢¢upancy levels in our Care Home Services lo expand our Supported Living seNices to continue lo improve the financial suslainabilily of the Tmsl's operations to Gonlinue recent work in relation lo ensuring our values and vision are fully embedded within our working culluie DeiTriaiid lui uui C4ti¥ Hutne Servi5 has been high and exceeds our Gurrent capacity. While there have been some vacancies in these services over the last year, these are ones that we have held deliberately in order lo adapt what we offer in response lo signili¢ant changes in some peoples. needs. We also lake great ¢are when a va¢anGy arises lo ensure we can meet the needs of people referred lo us and this means that there can be some lime between vacancies arising and people moving in lo their new home. There remaill a number of situations in which peoples, fees are significantly below the costs of providing them with a servi. However, while these people are happy and well supported al Purley Park Trust, it is unlikely that they would be referred lo us if they were looking for a seNice now Idue to the level and nature ol their needs) and their fee levels probably do meet the level of 'personal budget, they might receive. In the past we have taken the wew th8t pushing thestr funding authorities for additional fuiidiiig Is very likely lu 4% Guuiiler-produclive exercise insofar as the interests of the people we support are concerned. However, we will be engaging with the lo¢al authorities involved in the ¢oming year in order lo ensure that the fees we receive more Glosely reflect the cost of the support we provide. Our Supported Living Services have ¢ontinued lo be highly successful, which has led lo increased demand from local authorities seeking similar services that offer good value and high quality. We are very proud of the fact that our supported living services have enabled people with complex needs lo live within their communities instead of in expensive 'specialisl' services away from their homes and families. Although the adoption of Mill Lane Lodge was not Something that matched our objectives, we became involved with the service in early 2018, in order to ensure that the eight tenants living there could continue lo do so. This was an opportunity that arose because of the work we have put in lo developing the success and reputation of our services and our commitment lo working with anyone locally that is interested in progressing the positive interests of people with learning disabilities. Page 6
PURLEY PARK TRUST LIMITED IA company limited by guarantee) GOVERNORS, RF.PORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 The eventLJal outcome was that in late 2019 we took over the ownership and rnanagemenl of the property, surrounding land and the support of the people living there. This project reflects our Ilexibilily and ability lo respond to unoxpected opportunitios and challenges. within a wp.11-defined lono-term strategy. As noted earlier. su¢h an acquisition was not part of our business objectives bul se¢uring the lenanoies of the people living there and improving the quality of the support they received were clearly within our charrtable objectives. In the longer term the 10¢8tion offers significant opportunities and we are planning and investing in developments that will realise these for the benefit of the lenanls, other people we support and the local community. Our Day Services provision on our main sile has been the are most affected by the Coronavirus pandemic and was closed for long periods of lime from February 2020. This has gave us an opportunity lo consult with our stakeholders and fundamentally reiqew what we offer and how this is organised. As a result of this, in the Summer of 2022 we Converted the Day Service building on our main sile into a Calélsocial hub. This still offers some organiq?.d Ar.tivitig.£ bul in bookable sessions run by externally sourced 'experts' bul al other limes il operates as a café and meeting place for people we support, staff and other local people, wrth opportunities for paid work for people we support. In addition to this we will be continuing lo invest in opportunities for people lo gel involved in gardening, cullivalion and animal husbandry at Mill Lane Lodge. We have not actively marketed our Domiciliary Care service and have declined opportunities lo 'lender' for Ihis type of provision. While we think there will be some demand for this type tsf support, the Majority of Contracts being offered by commissioners are lor high volumel short visit types of provision that do not match our strengths or our charitable objects. 11 would also be against the vision and values ol the Trust to work in the way that some of the local authority commissioning arrangements are starting lo demand (for instance, providing support lo people with any kind of need, bidding by e-mail lor short-visit conlracls, elc.... However, in response lo the increase in loneliness and the restraints on support available lo people who are not eligible for formal social care support, we are slowly extending the support we provide lo people that live in our local community who might need short-lerm support, befriending arrangements or other informal help and support. We have had a number of soci81 work students on placement with us and a number of other students studying for their Diploma in Care on a shorter term basis. In addition Ic) all ol the other benefits this brings Iwhich are significanll, our Leaming and Development Manager is able lo offer in-placemenl practi teaching to the students, for which we earn some income. Once more we have also hosted a number of Thames Valley Police trainees on short s¢¢ondmenls, an arrangement which Continues lo be very successful and enjoyable, as well as a number of work experience placements for students in their later school years on work experience placements. Review of finances The Statement of Financial Aclivilitss shows a surplus of £570k against an annual turnover of £6.102m (excluding the gain on the sale of property). Total operating income increased by 9.30kn, due to.. new and increased support packages for people we support. Successful negotiations reg8rding fee levels that had fallen below realistic levels Operating costs rose by 4.2¢/0 due to.. significant investment and depreciation ¢osls for our properties Inflationary pressures on goods and services Increases in remuneration for th& Trust's staff and the high costs associated with temporary staff P8ge 7
PURLEY PARK TRUST LIMITED IA company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Administration costs Dirp.r.t r.h2ril2hlè expenditure and support ctssts continued lo account for the vaÈt majority of total operating expenditure and governance costs accounted for only 0.10/0 of fee revenue. The pay and iernuneraliDn of the Charity's key staff (currently identified as the Chief Executive, Head cif Finance and Resources and the Learning and Development Managerl is reviewed and sel by the Governors al their January meeting, al the time that they agree the budget for the. following financial year. This takes place in closed session and is informed by". The performance of the Chief Executive as assessed in an annual appraisal, which is carried out by the Chairman Appraisaltr of the pcrforman¢c of the Head of Fin8n¢¢ and Resources and the Ltarning and Developiiionl Manager, which are carried out by the Chief Executive Assessments of how well the overall objectives of the charity are being mel, including financial performance Comparisons wilh pay and remuneration levels in other similar organisalions and within the charity Reserves Policy The Govemors have reviewed the Trust's Reserves Policy this year and detemiined that the TrLJsI's reserves should continue lo equate Its 60 days average expenditure and be made up of cash al bank and in hand. This Reserves targei Is Influenced by the risks the Trust is exposed to, particularly the very uncertain financial climate and the risks lo our income streams. This figure is ¢urrenlly estimated at £960k for 2024125. The funds available as al March 2024 amounted lo £1,195k Inet of assets in designated funds). When reviewing the accounts the Trustees determined that the following assets should be held in designated funds". An amount of £50k for essential repairs lo the trusts properties An amount of £5.6m related lo the Trust's tangible fixed assets, including land and property in the Trust's ownership. These assets are regarded as being essential lo the sustainable operations of the Trust and will Iiut be realised in the foreseeable future. The Governors also accept that the sclual reserves figure will be fluid as il will be affected by the Trust's trading posilioll. Their long term aim remains lo allempt lo maintain or extend the target, although not lo the detriment of essential investment in our services. Demand for the Trust's services is expected lo remain very strong, al least partially miligaling the effect of Local Aulhorilies, underfunding. The Governors consider the balance sheet position al 31 March 2024 to be sufficient, with adequate assets lo meet the Trust's routine liabilities. Inve8tmÈnt Policy The Trust has no stock or share investments nor any long-lerm cash inveslmenls. Cash reserves are invested with the Charity Offices Investment Fund ICOIFI in accessible dttposil accounts in sterling in United Kingdom inslilutions. In the past this has allowed for development costs and capital expenditure lo be handled on an 8$ required basis whilst achieving some investment in¢ome. Cash reserves are deposited in low-risk managed accounts which generally avoid especially contentious issues. FLJnd performance has generally been acceptable in a period of low interest rates but the governors will be reviewing our investment strategy in the 2024125 financial year lo make sure th81 we achieve an effective balance of risk and relum on our investments. Page 8
PURLEY PARK TRUST LIMITED IA company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Description of our organisation Purley Park Trust Limited is governed by ils Memorandum 8nd Articles of Association. We are registered with the Care Quality Commission ICQCI who regulate and inspe¢l our Care Homes and Domiciliary Care Services under The Care Quality Commission (Registralionl Regulations 2010, the Health and Social Care Act 2008 IRegulaled Activiliesl Regulations 2010, the Health and Social Care Act 2008 and the Care Act 2014, Purley Park Trust Limited is a charity registered with the Charity Commission lllumber 2617281. 11 is also a company limited by guarantee with no share capital (company number 9898201. How we organise ourselves Our Trustees The strategic direction of Purley Park Trust Limited is the responsibility of the Board of Governors, who are the Trustees of the Charity land Directors of the limited company). Trustees are referred lo as Governors for historical reasons - our founder, Col. Hugh Dun¢an initially set up the Trust as a school lor boys with learning disabilities. The Governors, experience and qualifications are such that they can make a valuable conlribulitsn lo the strategy and overall mariagemenl of Purley Park Trust, and all of them hsve an active interest in our aclivilies. Potential Governors are identified usually through personal conta$ amongst current Governurs and Staff, or approaches from inlerested parties. Trustees are then selected on the basis of their professional experience, qualifications, skills and comrnilmenl lo the aims of the Trust, as well as in relation lo the need for the Trust to have a broad range of expertise relevant both to the charitable aims of the Trust and the proper Gondu¢l of ils affairs as a company limited by guarantee. A prospective Governor will apply formally in writing lo be elected as a Member of Purley Park Trust Limited snd then lo be considered for election to the Board. He or she will submit a Curriculum Vilae and explain why they wish to become a Member and Govemor, and what they believe they will be able lo contribute lo the good governance of the Trust. All Governors are sent copies of the application, which will be considered al a Board of Governors Meeting. All prospective Govemors (who are not known personally by a Gurrenl Govemorl, will need to provide references and all Governors are subject lo a Disclosure and Barring Service enhanced disclosure Gheck. As the Governors are also Company Directors, they comply with the rules goveming eligibility for appointment as cormpany dire¢lors, in accordance with the requirements of the Companies Act 1985. An Induction Pack is provided for all new Governors, and this includes guidance provided by the Charity Commission, and professional advisers as well as de18ils about the Trust. The Trust has a 'Govemors Training Fund which a designated fund Ihal is used lo defray the Costs of Governors, allendance al training courses, seminars, conferences and so on that are relevant lo Iruslee duties, as well as subscriptions to governance periodicals. Governors carry out a form of inspection. The format of these inspections is loosely proscribed to enable governors lo determine issues lo examine on a subjective basis when they visit. Our Management and Staff Structure Overall responsibility for the Trust's day-104ay management is delegated lo the Chief Executive, Larry Grady. Our Operations are overseen by Roberta Oelenon, OUT Operations Dire¢tor. Each of our Care Homes is led by a Registered Manager, who is supported by an Asslstanl Manager and learn ot Senior bUPPOrt Workers and Support Workers. Page 9
PURLEY PARK TRUST LIMITED IA company limited by guaranteè) GOVERNORS, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Our Domiciliary Care and Supported Living Services come under the direct management of Roberta Delenon and Disna Eail who 2re th8 regiÉterod m3nagery of thè Domiciliary Carc Agcncy. In practical tcrm5 their role8 are very clearly defined in terms of management responsibility and accounlabilily lor our different supported living services. The day lo day running of the Trust's finances is managed by Karen Taylor, our Head of Finance and Resources 2nd Alir.p. Ritr.hmond, OLir Finance Mgnag8r. We havtt a dedicated Manager for Learning and Development, Debbie Mackay who oversees staff training and development. C)iJr olhpr flinclions. gardell gnd grounds, 2nd maintenancè sre c2rried out on 2 dÈp2rtmenlal basis. Each department has a manager and a dedicated budget. Currently we erllploy about 185 staff, the vast majority of whom directly deliver care seNices lo the People we support. 11 remains our aim to keep oui adminislralive staff and costs to a minimum. Tho Board of Governors meets quarterly to receive reports from the Chief Executive and operational managers, and lo decide policy on matters as necessary. Annually they consider and approve the budget proposals, approve the audited accounts and review the Health and Safely Policy and Risk Management Plans. The Chief Executive reports between quarterly Board Meetings lo the Chairman and the Treasurer. On-site inspections of the operation of the Trust are regularly conducted by Governors. Thè Chief Executivg and PinvprnrJr8 wnrk vp.ry closely together lo ensure the smooth and efficient operation of the Trust within the policies and strategic plan agreed by the Governors and in accordance with legislative requirements and registration 51andard5. Review of relationships with other organisations st Luke's Trust Iln October 2019, the social care services provided by Sl Luke's Trust were transferred lo Purley Park Trust. Staff worf(ing in those services have become employees of Purley Park Trust under TUPE arrangements, Sl Luke's Tru51 also transferred the land and property associated with their social care services lo Purley Park Trust in the form of a donation. This generous slep secured the tenancies of the people that rely on the propety for their accommodation and support. Future Plans The provision of Care Horne SeTrvices will continue lo be our core business and il is our aspiration that we achieve excellence in this area. Demand for the unique environment we provide remains very high. We shall however continue lo diversify our soNices, albeit while remaining a relatively small, local provider of excellent services. In parti¢ular, we will respond lo demand lor new supported livirig services from people we know and their families alld from commissioners by developing new services of this type. In doing so we will priorilise.. People who live locally, whom we can help lo remain within their local community People who have been unable to find a seNice that can meet their needs elsewhere due lo their particular need Demand for these services has remained strong, despite the slated preference lor other forms ol service delivery amongst many Social Services departments, Our reputation is strong and we benefit from the Irusling relationships we have with some key commissioners and from word-of-moulh recommendalions. As we had anticipated, new referrals Iwhen we can a¢¢ept them following a vacancy arising) continue lo be mostly for people with complex needs. Page 10
PURLEY PARK TRUST LIMITED IA company limited by guarantee) GOVERNORS, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Generally speaking, local authorities are reluclanl lo refer people lo'lradilional. residential care unless their cafe are too ¢tsmplex to be satisfactorily mat in other stylos of service délivery. The main effect on LIS of this i* increased staff ratios as we support people with more severe learning disabilities and more Challenging needs., our recruilmenl, training and management of staff reflect this. Our capacity al Purley Park will not increase in the foresee8ble fulLJre to meet the demand for places. There Is a need (albeit not urgonll to invest in sorne of oiir oldp.r prnpprtie8 tt) ensure that our living environments continue lo meet the needs ol the people we support and the anlicipaled needs of others who are yel lo move in. There is a risk that if we fail lo address this issue that our income wi51 also be adversely affe¢led. Risk Management The management pursues a continuous and pro-active rrisk management strategy following idenlificalion and assessment of the major risks lo which the Trust is exposed. These are reviewed regularly by the management team and al least annually by the Governors al their January Board meeting. The process used to assess and manage risk5 across the organisalion is reviewed regularly lo ensure that risks are identified, analysed and managed effectively. OLsr Organisalional Risk Matrix identifies risks according lo the following areas.. Govornance & Mansgemprit Operational Risks Financial Risks Risks relating lo external factors Legal l Regulatory Risks General operational risks are assessed and managed by operational managers. However, if a significant level of risk is identified land this cannot be salisfaclorily miligaled at an operational level) the risk rM8nagemenl plan is reviewed regular5y by the Chief Executive. PrinGipal Risks & Uncertaintie5 As a small organisalion, one of our key risks is losing key staff that perfonn wlal andlor technical functions for us. We have done a considerable arnounl of work lo miligale this risk through succession planning, the restructuring of our senior management tearn and the delegation of tasks lo reduce reliance upon individual staff. In addition, while our staff turnover is well below the aver8ge for organisalions that provide social care services, we are wncerned that wage inflation in other sectors and unprecedented rises in the cost ol living may impact severely on our ability to recruit and relain our workforce. We value our people highly and invest heavily in their wclfare but thi- -ituation will require constant rnonitoring and review for the foreseeable futuro. Another key risk identified in our strategy is having insufficient capital lo meet our aspirations for the services we deliver. We miligale this risk by.. Diversifying our services lo include new models that are not reliant UPDn significant capital outlay Ensuring that our strategy is based upon pragmatic, long lem, sustainable objectives th81 also support our long lem aims. Working closely with OLJr partners lo ensure that OLJr long term aims are relevant to their strategic aims and have their support where necessary Maintaining a clear focus on the financial viabiliiy of rhe service we currently offer Page 11
PURLEY PARK TRUST LIMITED IA company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 The most signifi¢anl risk las il is for all providers of ¢are and support services), currently is the conlinuing uncertainly regarding the future of Health and Social Care services in the UK and the considerable financial pressuros that th8 organi83tion$ Ihot purchauc our ¢TrIceS are under. While these matters are obviously not under our control we have managed these risks so far by.. Diversifying our services, lo spread the risks in relation lo funding pressures BLJilding ¢apacity and expertise lo provide services that represent excellent value for people with ¢omplex needs, for which there is an inGreasing demand Building relationships and partnerships wrth other agencies so that we can understand each others, strengths and needs and ensure that we are viewed as a crucial part of their future plans Being as efficient as possible, lo reduce waste, maximise the benefits we can deliver and providè excellent services al very good value Governors The Govemors in office during the year were as follows.. Mr L D Jones OBE FCCA (Treasurer) Mrs S Robinson Mr C Tri¢key RIBA Mr S R Barstow Mrs A Cullimore-Todd Miss R Keeling (Lhair ot I rusleesl Mrs S Vandersleen Mr Stephen Lewis Govemors, who are also Trustees and Diredors, are appointed by the existing Governors and confirmed al the Annual Gener81 Meeting. They seNe for a term of three years, when they may submit themselves for re- election. The Chairman is elected by the Govemors and may serve as Chairman for no more than two consecutive terms. Bankers The Trust's bankers during the period under review were the National Weslminsler Bank Plc. Solicitors The Trust's solicitors during the period under review were Messrs. Field Seymour Parkes, Reading. Governors. Responsibilities Statement The Governors (who are also directors of Purley Park Trust Limited for the purposes of company lawl are responsible for preparing the Governors, report and the financial s121emenls accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the Governors lo prepare financial slalemenls for each financial year. Under company law the GoverrTrors musl not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the charitable ¢ompany and of Ihe incoming resources and application of resources, including the income and expenditure, of the charitable cornpany for that period. In preparing these financial slalemenls, the Governors are required lo.. select suitable accounting policies and then apply them consislenlly., ubb¥iv¥ tlie rnelhods and principles in the Charflles SORP., make judgements and accounting eslimales that are reasonable and piudenl., prepare the financial slalemenls on the going concern basis unless il is inappropriate lo presume (hal the charitable company will continue in operation. Page 12
PURLEY PARK TRUST LIMITED IA company limited by guarantee) GOVERNORS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 The Governors are responsible for keeping adequate aOUntIng records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy al any lime the financial position of the Gharitable ¢ompany 2nd enable th&m to 8nsur8 thst th8 finsncial slatemonts comply with the Compsniès Act 2006. They are also respollsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditors So far as each of the Governors is aware al the lime the report is approved.. there is no relevant audit information of whi¢h the company's auditors are unaware", and the Governors have taken all steps that they ought to have taken lo rllake themselves aware of any rel&v8nt audit information and to establish that the auditors are. AwArp. nf th2t infnrmatian A resolution passed at the Annual General Meeting appointed James Cowper Kreslon Audit, Reading Bridge House, George Street, Reading, as auditors lo the Trust for the financial year. Approved by ord oft e members of the board of Governors and signed on their behalf by.. Mr L C Grady Secretary Dale.. Page 13
PURLEY PARK TRUST LIMITED IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PURLEY PARK TRUST LIMITED Oplnlon We have audited the finan¢ial slalemenls of Purtey Park Trust Limited Ilhe 'charily'l for the year ended 31 March 2024 which comprise the Slalernenl of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The fsnancial reporting frarnework 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 RepLJblic ol Ireland, (United Kingdorn Generally Accepted Accounting Pradicel. In our opinion the financial stalemenls.. give a true and fair view of the slate of the charitable companls affairs as al 31 March 2024 and of its incoming resources and application of resources, including its in¢c)me and expendrture for the year then ended., have been pmpedy prepared in accordan with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are turther described In the Auditors. responsibilities lor the audit of the financial slalemenls section of our report. Wè are illdependenl of the charitable company in accordancè with the ethical requirements that are relevant lo our audit of the lin8ncial slalemenls in the United Kingdom, including the Financial Reporting Council'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 lo provide a basis for our opinion. Conclusions relating to going concern sn auditing the financial slalemenls, we have concluded that the Governors, uqp nf th?. gning conc.em 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 lo events or ¢ondilions that, individually or collectively, may cast significant doubl on the charitabltt company's ability lo continue as a going conrn for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Goverllors wrfth respe¢l lo going concern are described in the relevant sections of this report. Page 14
PURLEY PARK TRUST LIMITED IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PURLEY PARK TRUST LIMITED ICONTINUEDI Other information The other information comprises the information included in the Annua5 report other than the financial slalemenls and our Auditors, report thereon. The Governors are responsible for the other information ¢onlained within the Annual report. Our opinion on the financial slalemenls does not cover the other information and, except lo the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other Inlormation and, in doing so. consider whether the other infoirTidliuii i materially inconsislenl with the financial slalemenls or our knowledge obtained in the course Df the audit, or olhenvise appears lo be materially misslaled. If we identify such material inconsistencies or apparent material misslalemenls, we are required lo delemiine whether this gives rise lo a material misslalemenl in the financial slalemenls themselves. If, based on the work we have performed, we conclude that there is a material misslalemenl of Ihis other inform81ion, we are required to report that fact. We have nothing to report in this regard. Opinion 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 Governors, Report including the Slralegi¢ Report for the financial year for which the financial statern8nt are. prp.riargd 1% consistent with the finan¢ial slalemenls. the Governors, Report and the Slr81egi¢ Report have been prepared in a¢¢ordance with applicable legal requirements. Matters on which we are required to report by exception In the Sight ol our knowledge and understanding of the charitable company and ils environrnenl obtained in the course of the audit, we have not identified material rnisstatemenls in the Governors, Report in¢luding the Strategic Report. We have nothing lo report in respect of the following rnallers in relation lo which Companies Act 2006 requires us lo report to you if, in our opinion.. 8dequale accounting records have not been kept, or returns adequate for tsur audit have not been received from branches not visited by us., or the financial slalemenls are not in agreernenl with the accounting records and returns., or certain disclosures of Governors, remuneration speoified by law are not made,. or we have not received all the information and explanations we require for our audit. RÈsponsibilitios of trustees As exp18ined more fully in the Governors, responsibilities statement. the Governors (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial slalemenls and for being salisfsed that they give a true and fair view, and for such internal control as the Governors delerrmine is necessary lo enable the preparation of financial statements that are free froTM rllaterial misslalemenl, whether due lo fraud or error. In preparing the financial slatemenls, the Governors are responsible for assessing the charitable company's ability lo GontinLJe as a going concern, disclosing, as applicable, matters related lo going concern and usillg the going concem basis of accounting unles5 the Guvei Ilvlb ¢ltliei" iiiteiid to liquidate the charitable Gomp8ny or to cease operations, or have no realistic allemalive bul lo do so. Page15
PURLEY PARK TRUST LIMITED IA company limited by guaranteel INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF PURLEY PARK TRUST LIMITED ICONTINUEDI Auditors. responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance aknoul whether the financial statements as a whole are free from material misslalemenl, whether due lo fraud or error, and lo issue an Auditors. report that includes our opinion. Reasonable assurance is a high level of assuranoe, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material misslalemenl when il exists. Misslalemenls Can arise from fraud or error 2nd are considered material if, individually or in the aggregate, they could reasonably be expected lo Influen the economic decisions of users taken on the basis of these financial slalemenls. Irregularities, including fraud, are instances of non-complian with laws and regulations. We design procedures in line with our responsibilities, outlined above. lo delecl material misslalemenls in respgct nf irrpoiilarities, including fraud. The extent lo which our procedures are capable of delecling irregularities. including fraud is detailed below.. Enquiry of management, those Charged with governance around actual and potential liligalion and Claims., Enquiry of management and those Charged with governance lo identify any material instances of non compliance with laws and regulations", Reviewing financial slalemenl disclosures and testing lo supporting documentation to assess compliance with 8pplicabl¢ laws and regulations", Performing audit work over the risk of management override of controls, including lesling of journal entries and other adjuslmenls for appropriateness, evaluating the business rationale of significant transactions outside the normal Course of bLJsiness and revieing a¢Gounling eslimales for bias. Because of the inherent limitations of an audit, there is a risk that we will nol delecl all irregularities, including those leading lo a material misstalemenl in the financial slalemenls or non-compliance regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial slatemenls, as we will be less likely lo become awarè of in.8tanr.p.È nf non-compliance. The Fisk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional ¢oncealmenl, forgery, collusion, omission or misrepresenlalion. A further description of our responsibilities for the audit of the financial slalemenls is lo¢aled on the Financial Reporting Council's website al.. www.frc.or .LJklaudilorsres Auditors, report. onsibililies. This description forms part of our Page16
PURLEY PARK TRUST LIMITED IA company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PURLEY PARK TRUST LIMITED ICONTINUEDI Use ofour report This report is made solely lo 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 slate lo the charitable company's members those matters we are required to stale lo them in an Auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and Ils members, as a body, for our audit work, for this report, or for the opinions we have formed. P. Alexander Peal Bsc (Honsl FCA DChA (Senior statutory auditorl for and on behalf of James Cowper Kreston Audit Chartered Accounlanls and Slalulory Auditor Reading Bridge House George Street Reading Berkshire RG1 8LS Dale. 20 December 2024 Page 17
PURLEY PARK TRUST LIMITED IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Total funds Total funds 2023 2024 Note Income from.. Donation- and Icgacic- Charitable aolivilies Gain on sale of property Investments 124,931 5,947,182 195,675 29,893 124,931 5,947,182 195,675 29,893 122,39G 5,441,185 11,468 Total income 6,297,681 6,297,681 5,575,049 Expenditure on.. Ch8ritsble aclivilies.. Charitable Activities S,727,745 5,727,745 5,498,540 Total expenditure 5,727,745 5,727,745 5,498,540 Net movement in funds 569,936 569,936 76,509 Reconciliation of funds.. Total funds brought for¥vard Nel movement in funds 5,606,613 569,936 5,606,613 569,936 5,530,104 76.509 Total funds carried fonmard 6,176,549 6,176,549 5,606.613 The notes on pages 2110 38 form part of these financial stalemenls. Page18
PURLEY PARK TRUST LIMITED IA company limited by guaranteel REGISTERED NUMBER: 00989820 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Flxed assets Tangible assets Current assets 14 4,931,088 5,250,064 Debtors Cash al bank and in hand 15 1,003,004 1,312,275 577,893 891,825 2,315,279 1,469,518 Creditors.. amounts falling due within one year 18 1440.5621 1447,8801 Net current assets 1,874,717 1,021,638 Total assets less ¢urrent liabilities 6,805,805 6,271,702 Creditors.. amounts falling due after more than one year 17 1629,2561 1665.0891 Total net assets 6,176,549 5,608,613 Charity funds Unrestricted funds Designated funds G¥ii¥rdl fuiids 18 4,981,088 1,195.461 5,300,064 306,54 Total unreslricled funds 6,176,549 5,606,613 Total funds 6,176,549 5,606,613 The Governors acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and preparation of financial slalemenls. The financial slalemenls were approved and aulhorised for issue by the Governors and signed on their behalf by.. R Keeling Chair of Trustees Dale.. I fs I ILIzozF, The notes on pages 21 10 36 forrll part of these financial slalemenls. Page 19
PURLEY PARK TRUST LIMITED IA company limitèd by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows trom operating activities Nel cash used in operating activities 72,021 65,512 Cash flows from investing activities Dividends, interests and rents from investments Proceeds frorll the sale of tangible fixed assets Purchase of tangible fixed assets 29,893 445,381 158,8591 1705,5161 11,468 Net cash provided byllused in) investing activities 416,415 1694,0481 Cash flows from financing activities Repayments of borrowing Loan funds received 167,9861 1470,5521 718,000 Net cash (used inllprovided by financing a¢tivitles 167,9861 247,448 Change in cash and cash equivalents in the year Cash and cash equivalents al the beginning of the year 420,450 891,825 1381,0881 1,272,913 Cash and cash equivalents at the end of the year 1,312,275 891,825 The notes on pages 21 to 36 forrn part of these financial slalemenls Page 20
PURLEY PARK TRUST LIMITED IA Company limited by guarantee) NOTE.S TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General information Purley Park Trust Limited is a company limited by guarantee incorporstcd in England and Wales with registered address 12 Huckleberry Close, Purley On Thames, Reading, Berkshire, RG8 8EH. The meTrnbers ol the company are the Governors named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited lo £1 per member of the charity. Accounting policies 2.1 Basi5 of preparation of financial statements The financial slalemenls have been prepared in accordance w(th the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Slalemenl of Recommended Practice appli¢able to charities preparing their accounts in a¢cordance with the Finaricial Reporting Standard applicable in the UK and Republic of Ire12nd IFRS 1021 leffective 1 January 20191, the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Purley Park Trust Limited meets the definition of a public benefit entity under FRS 102, Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise slated in the relevant a¢counting policy. 2.2 Donations, bequests and other receipts Donations and bequests are accounted for on a receivable basis. Donations in kind are in¢luded al the estimated value lo the Gharity. 2.3 Government grants Governrnenl grants are credited to the Slalement of financial activities as the related expenditure is incurred. 2.4 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity," this is normally upon nolificalion of the interest paid or payab5e by the institution with whom the funds are deposited. 2.5 Allo¢ation of overheads Overheads are allocated specifically either lo direcl charitable expenditure or costs of generating funds. except for governance costs which are disclosed separately. 2.6 Fund accounting General funds are unrestricted funds which are available for use al the discretion of the Governors iri fLJrtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated fund5 comprise unrestricted funds that have been sel aside by the Governors for P8rtiGular purposes. The aim and use of each designated fund is sel out in the notes lo the financial slalemenls. Page21
PURLEY PARK TRUST LIMITED IA ¢ompany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinued 2.7 Income All income is reoognised once the Charity has entillemenl lo the income, it is probable that the income will be received and the amount of income receivable Can be measured reliably. For legacies, enlillemenl is taken as the earlier of the dale on which either.. the charity Is aware that probate has been granted, the eslale has been finalised and nolificalion has been made by the execulorlsl to the Trust that a distribution will be made, or when a distribution is received from the estate. Re¢eipl of a legacy, in whole or in part, is only considered probable when the amouril can be measured reliably and the charity has been notified of the executor's intention lo make a distribution. Where legacies have been notified to the ¢harily, or the charity is aware of the grallling of probate, and the criteria for Income re¢ognrtion have not been mel, then the legacy is Irealed as a contingent asset and disclosed if material. Donated services, facilities or assets are recognised when the charity has control over the item, any conditions associated with the donated item have been mel, the receipt Df e¢onomiG benefit frorn the use of the charity of the item is probable and that economic benelil call be Tneasured reliably. In accordance with the Charities SORP IFRS 1021, the general volunteer lime of the Friends is not recognised and refer lo the Governors. report for more information about their contribution. On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount il would have been willing to pay lo obtain services or facilities of equivalent economic benefit on the open market," a corresponding amount is then recognised in expenditure in the period of receipt. Income lax recoverable in relation lo donations reiVed under Gift Aid or deeds of ¢ovenanl is recognised at the lime ol the donation. Incorne lax recoverable in relation lo investment income is recognised al the lime the investment income is receivable. Page 22
PURLEY PARK TRUST LIMITED IA company limited by yuaranteel NOTES TO THE fiNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies l¢ontinued 2.8 Expenditure Expenditure is recognised once there is a legal or conslruolive obligation lo transfer economic benefit lo a third party, il is probable that a Iransfei of eGonomic benefits will be required in settlement and the amount ol the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the lolal of direct Costs and shared costs, including support costs involved in undertaking each activity. Direct costs allribulable lo a single a¢livily are allocated directly to that activity. Shared costs which contribute lo more than one activity alld support costs which are not allributable lo a single activity are apportioned betrween those activities on a basis consislenl with the use of resouices. Central staff costs are allocated on the basis of lime spent, and depreciation charges allocated on the portion of the asset's use. Support ¢osls are those costs incurred directly in support of expenditure on the Dbjecls of the ¢harity and include project management carried out al Headquarters. Governance costs are those incurred in ¢onneclion with administration of the charity and compliance with conslilutional and slalulory requirements. Charitable activities and GovernanGe costs are costs incurred on the charitys operations, including support Costs and Costs relating to the governance of the charity apportioned lo ¢haritable aclivilies. All expenditure is Inclusive of irrecoverable VAT. 2.9 Tangible fixed assets and depreGiation Tangible fixed assets costing £500 or more are capilalised and recognised when future economic benefits are probable and the cost or value of the asset can be Measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured al oosl less accumulated depreciation and any accurnulaled impairment losse5. All costs incurred lo bring a tangible fixed asset into ils intended working ¢ondilion should be in¢luded in the measurement of Cost. Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives, using the slraighl-line method. DepreciBlion is provided on the following basis.. Freehold property Improvements lo leasehold properties Mulur veliitsleb Furnishings and fillings OffiGe eqLJipmenl Workshop gard&n equipment 2° 20° 250/0 2.10 Debtors Tr8de and other debtors are recognised al the settlement amount after any trade discount tsffered. Prepayments are valued al the arnounl prepaid nel of any trade discounts due. 2.11 Cash at bank end in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. Page 23
PURLEY PARK TRUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinuedl 2.12 Liabllities and provisions Liabilities are recognised when there is an obligalioll al the BalanGe sheet dale as a result of a past event, il is probable that a transfer of economic benefit will be required in settlement, and the amount of the selllemenl Can be eslimaled reliably. Liabilities are recognised al the amount that the Charity anlicipales il will pay lo sellle the debt or the amount il has received as advanced payments for the goods or services il musl provide. Provisions are measured al the best estimate of the amounts required lo settle the obliqalion. Where the effect ol the lime value of money is material, the provision is based on the present value c>f those amounts, discounted at the pre-tax discount rale that reflects the risks specifi¢ to the liability. The unwinding of the discount is recognised in Ihts Slalemenl of financial activities as a finance cost. 2.13 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are initially recognised al Iransa¢lion value and subsequently measured al their selllemenl value with the exception ol bank loans which are subsequently measLJred al amortised cost Ljsing the effective interest method. 2.14 Pensions The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. Critical a¢¢ounting estimates and areas of judgement Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectatlons of future events that are believed to be reasonable under the ¢irGumslances. Critical accounting eslimales and assumptions.. The preparation of the financial slalements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as 21 the balance sheet dale and the amounts reported for income and expenses dLJring thè year. However, the nature of eslimalion means that actual OLJt¢omes could differ from Ihc>se eslimales. The following judgements lapart fron) those involving eslimalesl have had the most significant effect on amounts recognised in the financial Statements. Tangible fixed assets Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of 12clors. Residual value assessments consider issues such as the remaining life of the asset and projected disposal values. Page 24
PURLEY PARK TRUST LIMITED IA company limited by guarantee) NOTES TO THE fiNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacies Unrestricted funds 2024 Total funds 2024 Total funds 2023 Donations Lega¢ies 124,931 124,931 17,504 104,892 124,g31 124,931 122.396 Tolsl 2023 122,396 122,396 Income fiom charitable a¢tivities urtrICted funds 2024 Total funds 2024 Total funds 2023 Fees for ¢are services Residents, travel wnlribulions Miscellaneous income 5,785,299 110,673 51,210 5,785,299 110,673 51,210 5,308,071 93,458 39,656 5,947,182 5,947,182 5,441,18 Total 2023 5,441,185 5,441,185 Other income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Gain on sale of property 195,675 195,675 Page 25
PURLEY PARK TRUST LIMITED IA company limited by guaranleel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investment incorne Unrestricted funds 2024 Total funds 2024 Total funds 2023 Interest receivable 29,893 29,893 11,488 Total ?n2.3 11,468 11,468 Analysis of expenditure on charitable a¢tivities Summary by fund type Unrestricted funds 2024 Total 2024 Tnfxl 2023 Care service costs Support costs 5,083,460 644,285 5,083,460 644.285 4,925,621 572,919 5,727,745 5,727,745 5,498,540 Total 2023 5,498,540 5,498,540 Summary by expenditure type staff costs Depreciation Other Costs 2024 2024 2024 Total 2024 Total 2023 Care service costs Support costs 4,134,307 421,058 128,129 821,024 223,227 5,083,460 644,285 4,925,621 572,919 4,555,365 128,129 1,044,251 5,727,745 5,498,540 Total 2023 4,385.068 127,267 986,205 5,498,540 Page 26
PURLEY PARK TRUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of èxpenditure by activities Activities undertaken direGtIy 2024 Support ¢osts 2024 Total funds 2024 Total funds 2023 Care service costs Support costs 5,083,460 5.083,460 644,285 4,925,621 572,919 644,285 5,083,480 644,285 5.727,745 5,498,540 Total 2023 4,925,621 572,919 5,498,540 Analysis of support costs Total funds 2024 Total funds 2023 Wages and salaries Office costs Subscriptions Bank Ghargeb Audit fees Interest payable Marketing, fundraising, entertainment Governance costs 421,058 148,517 20,385 3,90 8,750 33,882 4,S72 3,220 365,207 140,015 17,657 4.325 8,135 26,231 6,284 5,065 644,285 572,919 10. Auditors, remuneration 2024 2023 Fees payable lo the Charills auditor for the audit of the Charity's annual accounts 8,750 8,135 Fees payable lo the Charity's auditor in respect of.. Prgpilldtioii of the CharitV5 annual aG¢ount- 4,000 3,885 Page 27
PURLEY PARK TRUST LIMITED IA company limited by guaranteel NOTES TO THI fiNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Staff costs 2024 2023 Wages and salaries Social security costs Lontribution lo defined contribution pension schemes 4,123,835 325,657 105,873 4,005,725 283,186 96,157 4,555,365 4,385,088 During the year, the Charity made redundancy payments of £6,18512023". £Nill lo one employee12023'. The average nurnber ol persons employed by the Charity dLJring the year was as follows". 2024 2023 No. Care 161 166 12 Adminislralion 174 178 The number of employees whose employee benefits lexcluding employer pension costs) exceeded £60,000 was.. 2024 2023 In the band £60,001 £70,000 In the band £80,001- £90,000 In the band £90,001 - £100,000 During the year remuneration paid lo key management personnel lolalled £243,78912023.. £242,143). 12. Governors. remuneration and expenses During the ycar, no Governor8 received any Femuiiei"atiuii ur other benefits12023- £NILI. During the year ended 31 March 2024, no Govemor expenses have been incurred12023 - £NILI. 13. Tax on surplus on ordinary activities In the view of the Company's ¢harilable slalus, no liability lo UK ctsrptsralion lax arises on any surplus for the year. Page 28
PURLEY PARK TRUST LIMITED IA company limited by guarantee) NOTE8 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Tangible fixed assets Workshop Improvements Fixtures garden to leasehold and Office equipment properties fittings equipment and cars Freehold property Total Cost or valuation Al 1 April 2023 Additions Disposals 5,371,122 133,779 301,835 80,112 204,264 6,091,112 58,859 58,859 143,3771 1485,1851 1270,8311 1136,0881 134,8891 Al 31 March 2024 5,100,291 133,779 165,747 45,223 219,746 5,664,786 Depreciation Al 1 April 2023 Charge for the year On disposals 343,95S 77,155 121,1251 22,431 226,521 65,320 6,689 18,996 7,801 1136,0881 134,8891 182,821 841.048 17,488 128,129 143.3771 1235.4791 Al 31 March 2024 399,985 29,120 109,429 38,232 156,932 733,698 Net book value Al 31 March 2024 4.700,306 104,659 56,318 6,991 62,814 4,931,088 At 31 March 2023 5,027,167 111,348 75,314 14.792 21,442 4 ?4n flfi4 Included in freehold property is freehold land al CDSI of £1.868,179 12023.. £1,962,970) which is not depreciated. Page 29
PURLEY PARK TRUST LIMITED IA company IiTnited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Debtors 2024 2023 Due within one year Trade debtors lincluding Residents) Other debtors Prepayments and a¢¢rued incorne 456,307 6,764 539,933 377,891 7,255 192,547 1,003,004 577,693 16. Creditors.. Amount5 falling due within one year 2024 2023 Bank loans Trade creditors lincluding Residents) Other taxation and social security Other creditors Ac¢ruals and deferred income 35,531 78,841 81,052 142,764 102,374 33,802 58,799 58,883 164,084 132,312 440,562 447,880 Page 30
PURLEY PARK TRUST LIMITED IA cornpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Creditors- Amounts falling due after more than one year 2024 2023 Bank loans 629,256 665,089 Included within the above are amounts falling due as follows.. 2024 2023 Between one and two year Bank loans 37,348 35,531 Between two and five years Bank loans 80,528 76,608 Ov&r five years Bank loans 511,380 552,950 The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting dale is. 2024 2023 Repayable by inslalmenls 511,380 552,950 Bank loan- arc ecUred with charges over assets with 2 combinp.d C.ll.t of £589.678 12023.. £589,678), and nel book value of £576,90212023.. £584.5681. Page 31
PURLEY PARK TRUST LIMITED IA company limited by guarantee) NOTES TO THE fiNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Statement of funds Statement of funds - ¢urrent year Balance at 31 MarGh 2024 Balance at I April 2023 Transfers inlout Income Expenditure Unrestricted funds Designated funds Property Repairs fund Fixed Assets fund 50,000 5,250,064 50,000 4,931,088 1128.1291 1190,8471 5,300,064 1128,1291 1190,8471 4,981,088 General funds Accumulated general fund 306,S49 6,297,681 15,599,616) 190,847 1.195,461 Total Unrestricted funds 5,606,613 6,297,681 15,727,745) 6,176,549 Designated funds.. The property repairs fund lateS 10 amounts earmarked for essential repairs lo the Irusl's properties. The fixed assets fund represents the net book value of th& Irusl's fixed assets. The Trustees delerrnined that the nel book valij? nf thè IrLlSt's fixed assets should b¢ held in a dasignated fund to provide 8 better understanding of the trust's unreslricled funds. Page 32
PURLEY PARK TRUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Statement of funds Icontinuedl Statement of fund$ - prior year Balance at 31 March 2023 Balance at 1 April 2022 Transfers inlout Income Expenditure Unrestrictèd funds Designatèd funds Property Ropairs fund Fixed Assets fund 50.000 5,250,064 4,678,854 1127,2671 698,477 4,728,854 1127,2671 698,477 5,300,064 General funds AccLJmulaled general fund 801.250 5,575,049 15.371,2731 1698,4771 306,549 Total Unrestricted funds 5,530,104 5,575,049 15,498,540) 5,606,813 19. Summary offunds Summary of fund5 - current year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout IncoTne Expenditure Designated funds Gener21 funds 5,300,064 306,549 1128,1291 1190,8471 15,599,616) 190,847 4,981,088 1,195,461 6,297,681 5,606,613 6,297,681 15,727,745) 6.176,549 Page 33
PURLEY PARK TRUST LIMITED IA company limited by guarantee) NOTES TO TIIE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 MARCH 2024 19. Summary of fund5 Icontinuedl Summary of funds - prior year Balance al 31 March 2023 Balance al 1 April 2022 Transfers inlout Income Expenditure Designated funds General funds 4,728,854 801,250 1127,2671 15,371,273) 698,477 1698,4771 5,300,064 306,549 5,575,049 5,530,104 5,575,049 15,498,540) 5,606,613 20. Analysis of net assets between funds Analysis of llet assets bètween funds - current period Unrestricted funds 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 4,931,088 4,931,088 2,315,279 2,315,279 1440,5621 1440,5621 1629,2561 1629,2561 Total 6,176,549 6,176,549 Analysis of net assets between funds - prior period Unrestri¢led funds 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 5,250,064 5,250,064 1,469,518 1,469,518 1447,8801 1447,8801 1665,0891 {665,0891 Total 5,606,613 5,60S,613 Page 34
PURLEY PARK TRUST LIMITED IA Gompany limited by guarantee) NOTE.S TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. Reconciliation of net movement in funds lo ngt cash flow from operating activities 2024 2023 Net income for the period las per Slalement of Financial Acliviliesl 569,936 76,509 Adjustments for.. Depreciation charges Interest paid on loan Dividends, inleietslb iirid I¥Tltb Iroin iiivestments (Gain) l Loss on the disposal of fixed assets Increase In debtors Decrease in Creditors 128,129 33,882 129.8921 1195,6751 1425,3121 19,0471 127,267 26,231 111,4681 7,039 1125,4381 134,6301 Net cash provided by operating a¢tivlties 72,021 65,512 22. Analysis of Gash and cash equivalents 2024 2023 Cash in hand 1,312,275 891,825 Total cash and cash equivalents 1,312,275 891,825 23. Analysis of changes in net debt At 1 April 2023 Cash flows At 31 March 2024 Cash al bank and in hand Debt due within 1 year Debt due after 1 year 891,825 133,8021 1665,0891 420,450 11,7291 35,833 1,312,275 135,5311 1629,2561 192.934 454,554 647,488 24. Pension commitments The ¢ompany operate- defined contribution sch8mg in respect of its employees. Contributions charged in the financial slalemenls as incurred and there were oulslanding contributions as al the balance sheet dale of £21,536 12023.. £16,123). Pension costs charged in the year were £105,873 12023.. £96,157). Page 35
PURLEY PARK TRUST LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 25. Operating lease commitments At 31 March 2024 the Charity had cornmitmenls to iiiake future iiiiiiiniuiTI ViayiTients under non- cancellable operating leases as follows". 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 12,980 43,446 464 1,356 2,084 465 56,890 3,905 26. Related party transactions The Charity has not enterèd into any related party transaction during the year, nor are there any oulslanding balances owing between related parties and the Charity at 31 March 2024. The Charity has the following related parties.. The Friends of Purley Park The Friends of Purfey Park is the sucSs0r body to the League of Friends, which was formed in 1970 10 raise funds with which lo enhance the lives of the Residents. The Friends of Purley Park, although a separate body, operate5 under the guidance of the Governors (Trusleesl of Purley Park Trust who relain responsibility for it. The charity made payments during the year of £22,175 12023 £nill lo Steve Taylor in respect of maintenance services. bleve Is the spouse of Karen Taylor, who is part of the key management personnel of the charity. 27. Controlling paty The ullirllale controlling party is that of the governors as slated on page 1. Page 36