Reglstered number: 1048360 Charity number.. 263954 ACORN VILLAGES LIMITED (A company limlted by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Acorn Village People First, Disability Second
ACORN VILLAGES LIMITED {A company Ilmlted by guarantee) CONTENTS Page Reference and admini$trative dgtails of the Charity. its Trustees and advl$ers Trust88$' report Independent audltors. report on thg financial ststements Consolidated statement of financial activities 2-11 12-15 16 Consolidated balance shogt Charity balance sheet Consolidated statement of ¢ash flows 18- 19 20 Notes to the financial statements
ACORN VILLAGES LIMITED IA company limited by guarantee} REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustegs Mr J Whittaker, Chairman Mr J Gray Mrs B Eyers, Vice Chairman Mr K Jordan (resigned 26 June 20231 Mrs J Owens Rev D Lang Mr C Daines Mr D Willis Mr B Taylor Mrs E Shields lappoinled 26 June 20231 Company reglstered number 1048360 Charity reglstered number 263954 Reglstered offlce Acorn Villages Limited Cla¢lon Road Essex C011 2NJ Company secretary Carly Cridland Chlef executlve officer Michelle Cook Independent auditors Grillin Chapman 4 & 5 The Cedars Apex 12 Old Ipswich Road Colchesler Essex C07 7QR Bankers Lloyds Bank 27 High Street Colchesler C01 1DU Sollcltors Ellisons Si8dman Chambers 43 Head Street Colchesler Essex C01 1NH Page 1
ACORN VILLAGES LIMITED IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDING 31 MARCH 2024 Report of the trustees for the year ending 31 March 2024. The trustees are pleased to present their annual directors, report together with the consolidated financial statements of the charity and its subsidiaries, for the year ending 31 March 2024 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and the charities Statement of Recommended Practice (applicable to charities preparing their actounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland,. FRS 1021 issued in October 2019. Chalrfs report I'm pleased to report a good year for Acorn Village despite difficulties with numerous councils who are struggling financially. Having had to be "re-active" to all the Government rules and regulations during Covid we, at last, have been able to be'pro-active" and move forward with various projects. We sadly had to close Trinity House Care Home as it required a massive cash injection to re-develop what had become an out-dated building. We're now re-considering the sale of this asset as we feel we need to retain our presence on Manningtree High Street for our main charity shop. Sales from our "on-line" and two charity shops have been boosted since we brought in new staff to run these areas. We've also launched the"Walled Garden Cafe" to open 7 days a week, which will involve a new supervisor and staff, particularly for weekend opening. We will also be reviewing our usage of the whole site, including Mistley Hall and the field down to the main road. The safety of our resident5, tenant5 and staff remain5 our top priority and it's been made easier in that there are fewer visitors on site since Covid. However, like all charities, it is noticeable that there are fewer volunteers overall. Luckilyi we still have a nu£leu5 of superb volunteers and a big "thank you" to them. I proudly announced in February that we had no vacancies in residential, but, as is always possible with our 'home for life" policy, three residents passed away within days... Filling these "voids" takes time, but we're prioritising this area and hopefully they will be filled soon. In these circumstances we clearly have to review our whole operation. a5 our "village" setting comes at a cost that financially stretched councils may opt out of sending their residents to. The "residential v supported livin, question has to be carefully considered given the national state of Social Care. As always, our staff are our greatest asset, consistently pulling together to deal with every aspect of running Acorn Village. At a recent "Long Term Awards" celebration one member received his 30-year service certificate and there were numerous 20-year ones. We will be implementing the new National Minimum Wage, but at a massive cost. We have a settled management team, where the new members, especially those new to Acorn Village, have brought in some different, exciting skills and methodology which we are keen to embrace. The move away from "fund raising" to'income generation" has been a real growth area for us, targeting specific needs. Page 2
ACORN VILLAGES LIMITED (A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2024 The key element of the year has been the drive to make sure everyone realises that whilst we are a charity we need to be run as a commercial business. The message has clearly worked as we achieved a small surplus at the end of the year, the first for many years. John Whittaker Chair Our purposes and activities Our chariws purpose as set out in the objects contained in the company's memorandum of association is to provide for.. 'The relief of those in need by reason of learning disability by all or any of the following.. Promoting beneficiaries physical or mental health Meeting beneficiaries religious or spiritual needs AdvancinE the education of beneficiaries. To accomplish these aims we.. - Provide care in permanent homes within a village community for adults with learning d15abilities and associated problems where they can be supported. Support beneficiaries to enjoy the benefit5 of a family life Support beneficiaries to develop and achieve their full potential Provide these benefits to adults with learning disabilities and associated problems living in the wider communitv. The vision that shapes our activities remains the promotion of good care and the maximisation of the potential for all our residents and tenants. The charity also has the general aim of contributing to the quality of life of the people in the local area by creating day care opportunities for those in need of them in the area. In shaping our objectives for the year and planning otjr activitie5, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit.. running a charity IPB21' The Village relies on donations both cash and saleable items to help cover any deficit in operating cost5 and to fund villager activities. In normal circumstances we endeavour to encourage everyone in the local community to take part in our activities, attend our events and support our charity and coffee shops. Page 3
ACORN VILLAGES LIMITED IA company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2024 The strategies employed to achieve the charity's aims and objectives are to facilitate the following activities: Social interaction: Social interaction is encouraged not only within the Village community but by interaction with other societies such as "Harwich Sing" Musement, Red Rose Theatre Group, Sport for Confidence, Wheels for All and Essex and Suffolk Community Rail project. Ladies and lads Group and a monthly residents and tenants meeting with the CEO. The meetings have developed into several social occasions including group meals and Halloween celebrations. Learning new Life skills; The Strover Centre is proving very popular especially for baking and learning to make individual or group meals. A breakfast club is well attended. Crafting in numerous forms,. These include painting, weaving, model making, furniture upcycling. Gardening and Horticulture; With our own polytunnels and allotments this 15 a popular activity with residents as is the maintenance of the garden area outside the houses. Produce is used within the houses and The Walled Garden café and a5 part of the cooking sessions. It is also sold to the general public onsite. Education,. Supported attendance at college, workshops within the Creative Craft Centre providing skills and knowledge Active Leisure/Relaxation As well as a visiting fitness instructor, sailing classe5 facilitated by volunteers of the Wolver5tone Trust are popular. A regular reflexology slot is well received. A weekly Pilates class has been well attended alld enjoyed. Regular social opportunities are arranged as well as a Summer fun day as part of our wellbeing services. Entertainment.. Music in all forms is popular and playing instruments and performing is encouraged. Discos and parties are always well attended. Use of facilities within by the local community,. Popularity of the Walled Garden cafe is incre351ng. It has also provided volunteering opportunities for service users. Together with the onsite charity Shop, it attracts people from the socal community to visit the site and encouraged social interaction. Our volunteers The Trust is part of the local communitvi Wlth some tenants living in Manningtree itself. The Trust relies on voluntary help and besides those regularly helping in the charity shops as well as sorting and selling donated goods, we also have volunteers regularly helping in the craft centre with it5 numerous activities. Fundraising in its many forms is an important part of our income. The selling of donated goods raised approximately £57,000 during the year-ending March 2024, and this would not be possible without the asslstance of our volunteer5 and our profound thanks go to all of them. Page 4
ACORN VILLAGES LIMITED IA company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2024 We have strengthened our volunteer support systems with regular social meetings as well 35 3n updated induction and training schedule. The Trustees/Directors are also volunteers and do not receive a salary. all volunteering their time. and although expenses would be available if needed. no expenses have been claimed again thi5 year. Achievements and performance The continued development of our wellbeing services has been a huge success with many staff and volunteers utilising the opportunities as well as the celebration of many initiatives across the year. This has included subjects such as Pride, nutrition and sleep, an annual activity for National soup day and physical health chetks run by the NHS. Being part of the NHS Working Well initiative has enabled us to have a level 3 accreditation, and we have been featured in their county wide newsletters for our work. Grant fLJnding has supported the development of an outside wellbeing library as well as a regular Pilates class for residents and tenants and their support staff. The Lottery Heritage project has begun with apple pressing equipment in plèce and used, as well as the development of an apple pressing room, fruit tree avenue and the heritage walk signage and kitchen garden underway. We continue to be immensely proud of our 5t3ffing teams for their hard work and resilience especially alongside the backdrop of Covid and all of its complexities. Long service awards are just one indicator of the dedication of our teams. Retention of our teams remains our priority. The difficult decision of closing Trinity House as a care home doesn't obviously fit as an achievement however, we were very pleased to be able to offer alternative accommodation and a new working environment to everyone that lived and worked there. Facilities Grant funding has enabled a large amount of improvement work across our residential and sUPPOrted living properties as well as the ongoing and very necessary budget to upgrade and maintain an ever-aBing property portfolio. The safe encapsulation of some of the asbestos in Mistley Hall has been completed. An annual external audit from a health and safety consultant P051tively highlighted the irnprovements made to be proactive, safe and considered about all activities undertaken and this is supported by our facilitie5 manager achieving her NEEBOSH qualification. Page S
ACORN VILLAGES LIMITED IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDING 31 MARCH 2024 Financial review The large increase in minimum wage was a challenge on the service when the annual % increase from local authorities did not meet this. This alongside rising costs and the increasing number of councils in financial difficulties, has meant that budget and spending control has been a priority. Filling any voids in our seryice is of utmost importance and we are pleased that the long-awaited on-boarding of our sUPPOrted living properties has now been achieved therefore vacancies can be explored by interested parties. We still have a healthy amount of interest via our expression of interest list. Social care continues to face considerable challenges and the impact of this is felt by the care service when trying to have timely and effective communications and negotiations with some of the local authorities. A greater emphasis on applying for grants has meant that outstanding projects can be achieved to improve or maintain our grounds and facilities and enhance the lives of adults with learning disabilities by improving our dav services equipment and wellbeing options. A complete review of our trading subsidiaries aims to maximise funds to benefit the charity. Plans to expand our online sales opportunities will bring in additional income as well as utilise existing Stock. Plans to open the Walled Garden café at weekends will bring not only income but a greater footfall to the charity itself. Investment powers and policy Investment Pollcy The continuing financial constraint5 on local authority funding and the general difficulty in fund raising dictates that there is an increased need to maximise income from all sources including the reserves. The organisation's resetve policy is to ensure there is a minimum of three month's community running costs in a cash reserve. This 15 in the region of £lm and was historically held irs cash. The trustees remain cognisant of the risk to capital but are prepared to take a low to medium risk stance to achieve their aims. The portfolio remains in funds specifically set up for charity investments and is diversified over a number of funds, managers and asset classes. Reserves policy and going concern The board has examined the charity's requirements for reserves in the light of the main risks to the organisation. It has established a reserve policy to ensure there is a minimum of three month's community running costs in unrestricted funds in a cash reserve. This is to cover the eventuality of short-term funding interruptions to cash flow or long-term funding Ioss and enable residents to be relocated to different carers without the need for undue haste and the associated trauma that would entail. The average monthly running cost for the first 10 months of year 2023124 wa5 £378,500 indicating that reserves should be in the order of £1,135,500 . Page 6
ACORN VILLAGES LIMITED IA company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2024 As of 31 March 2024 liquid reserves stood at £926,937 together with 3 further £890,029 in readily available investments. Whilst the trustees have no immediate concern with regard to solvency, there is a continuing need reduce the reliance on donations and discussions with our commissioners are ongoing. It should be noted that the financial pressures faced by local authorities impacts greatly on the negotiations required. Plans for future Our plans for this year include Telecommunications upgrade Introduction of a digital care planning system Renewed strategic direction for the charity Review the use and purpose of Trinity House Implementation of Gift Aid for our donated good services Weekend opening for The Walled Garden café. Reference and administrative detalls Charity number.. 263954 Company number.. 1048360 Registered Office- Acorn Villages Ltd, Clacton Road, Mistley, Manningtree, Essex, COII 2NJ Our advisers Bankers.. Lloyds Bank plc, 27 High Street Colchester E55ex COI IDU Solicitors.. Ellisons, Stedman Chambers, 43 Head Street, Colchester, Essex COI INH and Sparlings, 13 High Street Manningtree, COII IAQ Auditors.. Griffin Chapman, 4 & 5 The Cedars. Apex 12, Old Ipswich Road, Colchester, Essex, C07 7QR - IAppointed 27102120231 Directors and trustees The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees and officers Seing during the year and since the year end were as follows.. The Trustees of the Charity, who are the Direttors for the purposes of company law, and who served throughout the year and up to the date of this report were.. Mr J Whittaker- Chair Mrs B Evers- Vice Chair Mrj Gray Mrs J Owen5 Mr C Daines Mr D Willis Mr B Taylor Mrs E Shields Rev D Lang Page 7
ACORN VILLAGES LIMITED {A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2024 Key management personnel: M Cook Chief Executive C Cridland Company Secretary Operations Manager Senior Registered Manager with special responsibility for care service Finance Manager HR Manager 101104/20221 Facilitie5 Manager130106120221 Communications & Income Generation Manager122108/20221 G B311s Tcox S Gunn M Sear A Stutter K Buxton Structure, Governance and Management Governing Document The Charity is a company limited by guarantee, incorporated on 5 April 1972. The Company was established under a Memorandum and Articles of Association which was revised and updated during year ending 31 March 2012 to cater for changes in company law and to simplify the management of the Charity- The objects and ethos of the Charity however were deliberately left unaffected by the updated Memorandum and Articles of Association which remains the governing document. In the event of the Company being wound up the members are liable for an amount not exceeding £10. Appointment of trustee5 Trustees of the Charity are company direttors for the purposes of company law and form the Management Board. One third of the Trustees retire by rotation each year, after which they can be re-elected at the next annual general meeting. The nature of the Charity's work focuses on care of adults with learning disabilities,. the Trustees ensure that the needs of this group are appropriately reflected in the diversity of the Management Board composition. To date the Management Board has been successful in recruiting new members through their own networking and local knowledge. The ongoing business operation and specific skills required for working with people with learning disabilities are well represented on the Management Board. To obtain an essential skill mix and to avoid particular skills being lost due to retirement, individuals are approached to offer themselves for election or re-election to the Management Board. Trustee induction and training New Trustees are made aware of their legal obligations under charity and company law, the Charity Commission guidance on public benefit, and inform them of the content of the Memorandum and Articles of Association, the committee and decision-making processes. They are given a thorough briefing on the work of the Charity, it5 current business plan and financial position plus a tour of the operational activities. These are jointly led by the Chair and Chief Executive of the Charitv. Page 8
ACORN VILLAGES LIMITED IA company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2024 Organisation The Board of Trustees meets at least quarterly and deals with the overall strateEiC direction and policy of the Charity. The Board has appropriate sub-committees with defined terms of reference and including members of the management teams to further understand and develop our vision and aims for the Charity. The sub- committees are charged with reporting to the main board on their particular areas of responsibility. The committees are.. Finance, Risk and Salaries Health & Safety, Procurement and Premises Personnel Communication and Income Generation Care, Safeguarding and Care Quality Commission Compliance The everyday management of the village is delegated to the Chief Executive alongside the managers who supervise the day-to-day running of the Village Community, including the Supported Living Communities. The overall responsibility for operational activities is delegated to the Chief Executive and Senior Management Team including budgeted finance and compliance. Authorisation for non-budEeted capital spending remains with the Board. The responsibility for ensuring that staff receive appropriate training in line with Care Quality Commission requirements and standards, including Health and Safety at work, lies Wlth the Operations ManaEerlSnr Registered Manager. Key Management Personnel The Charity considers Its key management personnel to be the Chief Executive Officer, the Operation5 Manager, Senior Registered Manager, Finance Manager, HR Manager, Facilities Manager and Communication5 & Income Generation Manager. Related parties and co-operation with other organisations None of our trustees receive remuneration or other benefit from their work with the charity. Trustees and close contatts are not allowed to be employed directly by the company and any financial interest which may potentiallv impact any decision must be declared. Pay policy for senlor staff The remuneration package of the CEO is negotiated with the trustees directly. Remuneration of members of the senior management team, which are considered by the trustees to be the CEO'S direct reports. are negotiated with the CEO on an individual basis and agreed with the trustees. Rlsk management The Management Board constantly reviews any major risks to which the Charity may be exposed, taking measures to alleviate such risks where appropriate. A Risk Register has been developed which is reviewed at the quarterly board meetings and updated and amended as deemed necessary. Page 9
ACORN VILLAGES LIMITED IA company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2024 Policies and controls are updated and amended as regulations require or improvements are deemed beneficial. A reserves policy is in place to cover any major detrimental financial event. The minimum level of the reseryes is set at three times the average monthly running cost of the SeiCe. Wage inflation is the perhaps the least controllable risk. An increase in the minimum wage is no more than the staff affected deseNe and whilst such increases are not aimed at staff in higher wage brackets, they do have an impact on those staff members wages in order to maintain a pay differential. That means that tight budgetary settlements implemented by local authorities do not cover the increased costs of wage inflation. The seriousness of underfunding and low priority afforded to social care in the political arena represents a major risk not only to Acorn but to the sedor in general. All care facilities are registered with the Care Quality Commission. Procedures are in place and regularly reviewed to ensure compliante with legislation. The Quality Assurance system is monitored and updated to ensure it meets people's needs. Results of Care Quality Commission inspections indicate that the Quality Assurance system is working but we are mindful of the need to be vigilant to ensure standards are maintained. Our approach to fundraising activltles As a charity we comply with and support the expectations of the charity commission, the regulator of charities in England and Wales, and operate in a way which protects the charity's reputation and encourages public trust and confidence in the charity. This includes following the law and recognised standards, protecting the charity from undue risk, and showing respect for donors, supporters and the public. We are pleased to receive donations and legacies from supporters and donated goods for Sale in our charity shops and online activities. We also appreciate the support of the public at fund raising events. We do not have the resources to hold our own fundraising events and are extremely grateful to those people who wish to fundraise on our behalf with full support given to showcase and celebrate their event and achievements. We continue to prioritise grant applications, corporate support and growing our trading subsidiaries to raise income for the charity. Trustees. responsibilities in relation to the financial statements The charity trLJStee5 (who are also the directors of the Acorn Villages Limited for the purposes of company lawl are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. Page 10
ACORN VILLAGES LIMITED IA company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDING 31 MARCH 2024 In preparing the financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and prudent,. state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- prepare the financi31 statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financia5 statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenante and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Statement as to disclosure to our auditors In $0 far as the trustee5 are aware at the time of approving our trustees, annual report-. there is no relevant information, being information needed by the auditor in connection with Preparing their report, of which the group's auditor is un3ware, and the trustees, having made enquiries of fellow directors and the group's auditor that they ought to have individually taken, have each taken all steps that he/she is obliged to take as a director in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Auditors The auditors Griffin Chapman have indicated their willingness to continue in office. The designated Trustee will propose a meeting re-appointing the auditors at a meeting of trustees. Approved by order of the members of the board of trustees on behalf by, and signed for on their J Whittaker Ichairl Page 11
ACORN VILLAGES LIMITED {A company Ilmlted by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ACORN VILLAGES LIMITED Opinion We have audited the financial slalemenls ol Acorn Villages Limlted Ilhe 'parenl charitable companll and ils subsidiaries Ilhe 'group'l lor the year ended 31 March 2024 which comprise the Consolidated statement of financial aclivilies, the Consolidated balance sheet, the Charity balance sheet, the Consolidated slalement ol ash flows and the related notes, including a summary ol significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic ol Ireland, (United Kingdom Generally Accepted Accounting Praclicel. In our opinion the financial slalements.. give a true and lair view ol the slate ol the Group's and of the parent charitable company's affairs as al 31 March 2024 and of the Group's incoming resources and application ol resources, including ils income and expendilure lor the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements ol the Companies Act 2006. Basls tor oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibili116s under those standards are further described in the Auditors, responsibilities lor the audtt ol the financial slalemenls section ol our report. We are independent ol the Group in accordance with the ethical requirements that are relevant lo our audit of the financial 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 sullicienl and appropriate to provide a basis lor our opinion. Conclusions relating to going concern In auditing the financial slalemenls, we have concluded that the Trustees. use ol th8 going concern basis of accounting in the preparation ol tho financial slalemenls is appropriate. Basod on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent chaTilabl8 companls ability lo continue as a going concern for a period of al least twelve months from when the financial statements are aulhorised lor issue. Our responsibilities and the responsibilities ol the Trustees with respgct lo going concern are described in the relevant sections ol this report. Page 12
ACORN VILLAGES LIMITED {A company Ilmited by guarante•> INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ACORN VILLAGES LIMITED {CONTINUEDI Other inlormation The other information comprises the information included in the Annual report other than the financial slalemenls and our Auditors, report Ihereon. The Truslees are responsible lor the other information contained within the Annual report. Our opinion on the financial slalements does not cover the other information and, except lo the extent otherwise explicitly slated in our report, we do not express any form ol assurance conclusion Ihereon. Our responsibility is to read the other inlormalion and, in doing so, consider whether the other information is materially inconsislenl with the financial slalemenls or OLJr knowledge obtained in the course ol the audit, or olhenNise appeaTS lo be materially misslaled. If we identify such material inconsistencies or apparent rnalerial misslalemenls, we are required lo determine whether this gives rise lo a material misslalemenl in the financial slalemenls themselves. 11, based on the work we have performed, we conclude that there is a material misslalement of this other information, we are required lo report that fact. We have nothing lo report in this regard. Opinion on other matters prescrlbed by Ihe Companles Act 2006 In our opinion, based on the work undertaken in the course ol the audit.. the information given in the Trustees, report including the Strategic report lor the financial year lor which the financial slalemgnls are prepared is consislenl with the financial statements. the Trustees. report and the Strategic report have been prepared in accordance with applicable legal requirements. Matter$ on which we are requlred to report by exceptlon In the light ol our knowledge and understanding ol the charitable company and its environment obtained in the course ol the audit, we have not identified material misstatements in the Trustees, report including the Strategic report. We have nothing lo report in respect ol th8 following mallers in relation lo which Companies Act 2006 rèquires us to report lo you il, in our opinion-. the parent charitable company has not kept adequate and sufficient aceounling records, or returns adequate for our audit have not been received from branches not visited by us- or the parent charitable company financial slalements are not in agreement with the accounting records and returns., or certain disclosuros of Trustees. remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit. Page 13
ACORN VILLAGES LIMITED {A company limited by guarant•8) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ACORN VILLAGES LIMITED {CONTINUED) Re$ponsibilities of trustees As explained more lully in the Trustees. responsibilities statement, the Trustees (who are also the directors of the charitable company lor the purposes ol company lawl are responsible for the preparation ol the financial statements and lor being satisfied that they give a true and fair view, and for such internal control as Ihe TrLJStees determine is necessary lo enable the preparation ol financial slalements that are free from material misstatement, whether due lo fraud or error. In preparing the financial stalemenls, the Trustees are responsible for assessing the Group's and the parent charitable company's ability lo continue as a going concern, disclosing, as applicable, matters related to going ttoncern and using the going Concern basis ol accounting unless the Trustees either intend lo liquidate the Group or the parent charitable company or lo cease operations, or have no realistic allernalive bul lo do so. Audltors. responsibSlltle$ for the audit of the flnan¢lal statements Our objectives are lo obtain reasonable assurance about whether the financial slalements 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 ol assurance, but is not a guarantee that an audit ¢onducled in accordance with ISAS IUKI will always delecl a material misslalemenl when il exists. Misslalemenls can arise from fraud or error and are considered material if, individually or in the aggregat&, they could reasonably be expected lo influence the economic decisions ol users taken on the basis of these financial slalemenis. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo delecl material misslalemenls in respect of irregularities, including fraud. The exleni to which our procedures are capable ol detecting irregularities, including fraud is detailed below.. The engagement partner ensured the engagement team had the necessary skills and knowledge lo identify non- compliance with applicable laws and regulations. We obtained an understanding ol the legal and regulatory frameworks that are applicable to the company and lor those that are most signilicanl, we enquired into how management ensures compliance is maintained. We identified that the principal risks of non-compliance with laws and regulations related lo health and safely and the ability lo continue trading as a manulacluring and retail enlily. Correspondence was reviewed from third parties, where relevant. Enquiry and review of the company's Iran8aclions was undertaken lo highlight any instances ol penalties, line$ or legal activity which could suggest non-compliance with laws and regulations. There was no conlradiclory evidence found. We also considered those laws and regulations that have a direct impact on the preparation ol the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial slalements lincluding the risk ol override ot conlrolsl and determined that the principal risks were related lo posting journal entries lo increase profits or reclassify costs and manag&meni bias in accounting estimates, especially stock provision. In response, we incorporated lesling ol manual journal entries and scrutiny ol unusual transactions into our audit approach. Analytical procedures were used to help identify risk laclors in exceptional income received during the year. The incentive by managemènt lo portray positive company results was taken into consideration when undertaking audit lesling in the higher risk areas ol income and stock, with challenges made in relation lo management assumptions and calculations used. There are inherent limitations in the audit procedures described above and the further removed non-cornpliance with laws and regulations is from the events and transactions reflected in the financial slalemenls, the less likely we would become aware of it. Also, the risk ol not detecting a material misslalernenl due to fraud is higher than Page 14
ACORN VILLAGES LIMITED (A company limited by guarantee} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ACORN VILLAGES LIMITED (CONTINUED) the risk ol not detecting one resulting from error, as fraud may involve deliberate concealment by, lor example, forgery or intentional misrepresenlalions, or through collusion. It is also slated, as a reminder, that the primary responsibility lor the prevention and detection of fraud rests with both management and those charged with governance ol the company. A further description ol our responsibilities lor the audit ol the financial statements is located on the Financial Reporting Council's website al.. www.fr .or .uklaudilorsr8s nsibililies. This description forms part of our Auditors. report. Use of our report This report is made solely lo Ihe charitable companls members, as a body, in accordance with Chapter 3 01 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 mallers we are required lo slate to them in an Audilor5' report and lor no other purpose. To the fullest exlenl permilled by law, we do not accept or assume responsibility lo anyone other than the charitable company and ils members, as a body, lor our audit work, lor this report, or for the opinions we have formed. Danlel Aldworth (Senlor statutory audltor) lor and on behalf ol Grlffln Chapman Chartered Accountants and Slalulory Auditors 4 & 5 The Cedars Apex 12 Old Ipswich Road Colchesler Essex C07 7QR Dale.. C Syknkn Page 15
ACORN VILLAGES LIMITED IA company limited by guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income Irom.. Donations and legacies Charitable activities.. Acorn Village Community Government Grants Other trading activities Investment Incomfj 202,511 76,083 278,594 94,575 4,179,957 49,500 4,179,957 49,500 131,648 37,256 4.033, 108 121,243 113,179 30,645 131,648 37,256 Total In¢ome 4,431,968 244,987 4,676,955 4,392,690 Expendlture on: Raising funds Charitable aclivi11g5 2.491 4,509,776 105.992 32.617 108.483 4,542,393 96, 103 4,441,916 Total expenditure 4,512,267 138,609 4,650,876 4,538,019 Net {expendlture)lincome before net gainslllossesl on investments Nel gainslllossesl on investments 180.2991 106.378 28,552 26,079 28,552 (145,329J [36, 143) Net movement in funds {80,299} 134,930 54.631 (781,472) Reconclllallon of funds: Total funds brought forward Nel movement in funds 1.767,369 (80,299) 2.925,502 134,930 4,692,871 54.631 4.874,343 (781,472) Total funds carried forward 1,687.070 3,060,432 4,747,502 4,692,871 The Consolidated slat8menl ol financial activities includes all gains and losses recognised in the year. The notes on pages 21 to 41 form part ol these financial statements. Page 16
ACORN VILLAGES LIMITED IA company limited by guarantee) REGISTERED NUMBER: 1048360 CONSOLIDATED BALANCE SHEET AS AT 31 MAFICH 2024 2024 2025 Notg Fixod a$sets Tangible assets Investments 13 14 3,174,952 890,029 3.265,647 861.477 4,064.981 4, 127.124 Current assets Stocks Debtors Cash at bank and in hand 8,721 198,567 926,937 9,333 148,967 796,086 16 1.134.225 954,386 Creditors.. amounts falling due within one year 17 (4S1,704} (388,639) Net current assets 682,521 565,747 Total assets less current liabllltles 4,747,502 4,692,877 Net assets excludlng penslon asset 4,747,502 4,692,877 Total net assets 4,747,502 4,692,871 Charity funds Restricted funds Unreslri¢led funds 1,687,070 3,060,432 7,767,369 2,925,502 19 Total funds 4.747,502 4,692,871 The Trustees acknowledge their responsibilities lor complying with the requirements ol the Act with respgct 10 accounting records and preparation of financial slalements. The financial statements Were approved and Sepw 2021fr aulhorised for issue by the Trustees on and signed on their behalf by.. Mr J Whlttaker Chairman The notes on pages 21 10 41 form part ol these financial statements. Page 17
ACORN VILLAGES LIMITED {A company limlted by guarantee) REGISTERED NUMBER: 1048360 CHARITY BALANCE SHEET AS AT 31 MARCH 2024 2024 2025 Notg Fixed assets Tangible assets Investments 13 14 3.174,568 890,029 3,265, 176 861,477 4,064,597 4. 126,655 Current assets Stocks Debtors Cash al bank and in hand 15 7,292 300,061 826.911 8.470 232,946 712,007 1,134,264 953,363 Creditors.. amounts falling due within one year {451,362) (387, 749) Net current assets 682.902 566,214 Total assets less current liabllltles 4.747,499 4,692.867 Net assets excludlng penslon a$set 4,747,499 4,692.867 Total net assets 4,747,499 4,692,867 Charity funds Reslricled funds Unrestricted funds 1,687,070 3,060,429 1. 767,369 2,925,498 19 Total funds 4.747,499 4,692,86i The Charity's nel movement in funds lor the year was £54,632 12023- £[181,472)J. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and preparation ol financial slalemenls. The financial slalemgnls were approved and authoris lor issue by the Trustees on and signed on their behalf by.. Mr J Whittaker Chairman Page 18
ACORN VILLAGES LIMITED (A company limited by guarantee> REGISTERED NUMBER: 1048360 CHARITY BALANCE SHEET {CONTINUED} AS AT 31 MARCH 2024 The notes on pages 21 to 41 form part ol these financial slatemenls. Page 19
ACORN VILLAGES LIMITED (A company limited by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from oyrating activltles Net cash used in operating aclivi119S 116,518 34,227 Cash Ilows from Invgsting actlvltles Dividends, interests and rents from investments Proceeds from the sale ol tangible fixed assets Purchase of tangible fixed assets 37,256 8,842 (31,7651 30,645 (78, 172) Net cash provlded byl{used In) Investing attlvlties 14,333 (47,5271 Cash Ilows from flnan¢lng activitles Net cash provided by financlng actlvities Change in cash and cash equlvalents In the year Cash and cash equivalents al the beginning of the year 130,851 {13,300} 809,386 796,086 Cash and cash equlvalents at the end of the year 926,937 796,086 The notes on pages 2110 41 form part ol these financial slatemonls Page 20
ACORN VILLAGES LIMITED (A company1Smited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General inforrnation Acorn Villages Limited is a charity registered with the Charty Commission with the Charity Number 263954. The ChaTlty is incorporated as a company limited by guarantee al Companies House with the Company Nurnber 1048360 and domiciled in the United Kingdom. Accounting pollcles 2.1 Basls of preparatlon of financial statements The financial slalemenls have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities: Statement ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 lelleclive 1 January 20191, the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Acorn Villages Limited meets the definition of a public benefit enlily under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless othenNise stated in the relevant accounting policy. The Consolidated slalemenl ol financial activities ISOFA} and Consolidated balance sheet consolidate the financial slalemenls ol the Charity and ils subsidiary undertakings. The results ol the subsidiaries are consolidated on a line by line basis. The Charity has taken advantage of the exemption allowed under section 408 01 the Companies Act 2006 and has not presented ils own Slalemenl ol financial activities in these financial stalemenls. 2.2 Going concern The directors assess whether the use ol going concern is appropriate i.e. whether there are any material unc8rtainlies related lo events or conditions that may cast significant doubl on the ability ol the company lo continue as a going concern. The directors make this assesmenl in respect ol a period at least one year from the dale of aulhorisalion ol these financial slalemenls and have concluded that the company has adequate resources to continue in operational existence lor the lorseeable lulure and there are no material uncertainties about the company's ability to continuè as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial slalemenls. Page 21
ACORN VILLAGES LIMITED (A company limlted by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies {continuedl 2.3 Income All income is recognised once the Charity has enlillement to the income, il is probable that Ihe income will be received and the amount ol income receivable can be measured reliably. Income from residential and supported living fees represents arnounts invoiced during the year. Accounting adjustments are made in respect ol accrued or dèferred income so that the amounts included on the Statement of Financial Activities represent fees receivable in relation to residenvlenanl occupany and support during the year. The recognition ol income from legacies is dependent on establishing entiilemenl, th8 probability ol receipt and the ability lo estimate with sufficient accuracy the amount receivable. Evidence of enlitlemeni lo a legacy exists when the Charity has sullicienl evidence that a gill has been left lo them Ilhrough knowledge ol the existence ol a valid will and the death of the bgnelaclorl and the executor is satisfied that the property in question will not be required lo satisfy claims in the eslale. Receipt ol a legacy musl be recognised when il is probable that il will be received and the lair value of the amount receivable, which will generally be the expected cash amount lo be distributed lo the Charity, can be reliably measured. Grants are included in the Consolidated slalemenl ol financial activities on a receivable basis. The balance ol income received lor specific purposes bul not expended during the pgriod is shown in the relevant funds on the Balance sheet. Where income is received in advance ol enlillemenl ol receipt, ils recognition is deferred and included in creditors as deferred income. Where enlillemenl occurs before income is received, the income is accrued. Income lax recoverable in relation lo donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation. Income lax recoverable in relation lo investment income is recognised al the time the investment in¢ome is receivable. Other incom8 is recognised in the period in which il is receivable and lo the extent the goods have been provided or on completion ol the service. 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo Iransler economic benelil lo a third party, il is probable that a Iransler ol economic benefits will be required in settlemonl and the amount ol the obligation can be measured reliably. Expenditure is classified by activity. The costs ol each activity are made up ol the total of direct costs and shared costs, including 8UPPOrt costs involved in undertaking each aclivily. Direct costs attributable lo a single activity are allocated directly lo that aclivily. Shared costs whi¢h ¢onlribule lo more than one activity and SLJPPOrt ¢osis which are not allribLJlable to a single activity are apporlioned between those activities on a basis consislenl with the use ol resources. Central slalf costs are allocated on the basis ol time spent, and depreciation charges allocated on the FX)rtion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Group to raise funds lor its charitable purposes and includes costs of all fundraising aclivrfties events and non-charilable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs. Page 22
ACORN VILLAGES LIMITED (A ¢ompany limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.4 Expenditure {contlnuedl All expenditure is inclusive of irrecoverable VAT. 2.5 Government grants Government grants ielaling lo tangible fixed assets are Irealed as deferred income and released lo the Consolidated slalemenl of financial activities over the expected useful lives ol the assets concerned. Other grants are credited lo the Consolidated slalemenl ol financial activities as the r8laled expenditure is incurred. 2.6 Gift Aid In the case of a Gill Aid payment made within the GfOUP, income is accrued when the payment is payable lo the Parent Charity under a legal obligation. Measurement is al the lair value receivable, which will normally be the Iransa¢lion value. Where the right lo receive Gift Aid has been eslablish8d, the amount receivable is recognised as income in the Consolidated statement of financial aclivilies. 2.7 Tanglble flxed assets and depretlatlon Tangible fixed assets are capilalised and recognised when future economic benefits are probable and the cost or value ol the asset can be measured reliably. Tangible fixed assels are initially recognised al cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairmenl losses. All costs incurred lo bring a tangible fixed asset into its intended working condition should be included in the measurement ol cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives. Depreciation is provided on the following bases: Freehold property Plant and machinery Motor vehicles Fixtures and lillings Nil, 1 Q/., 2Q/., 40/., 6.670/0 and 1 OV¢ Straight line 250/0 reducing balance 250/0 reducing balance Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated statement ol financial activities. Page 23
ACORN VILLAGES LIMITED (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles (continued) 2.8 Investments Fixed asset investments are a form ol financial instrument and are initially recognised al their transaction cost and subsequently measured al lair value al the Balance sheet dale, unless the value cannot be measured reliably in which case il is measured al cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl o inveslmenls, in the Consolidated slalem8nl ol financial activities. Investments in subsidiaries are valued al cost less provision for impairment. 2.9 Stocks Stocks are valued ai the lower ol cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.10 Debtors Trade 2nd other debtors are recognised at the settlement amount after any trade discount ollered. Prepayments are valued al the amount prepaid nel of any trade discounts due. 2.11 Cash at bank and In hand Cash al bank and in hand includ&s cash and short-term highly liquid inveslfflenls with a short maturity ol three months or less from the dale ol acquisition or opening ol the deposit or similar account. 2.12 Llabllltles and provlslons Liabilities are recognis&d when there is an obligation at the Balance sheet dale as a result ol a past event, il is probable that a Iransler ol economic benefit will be required in settlement, and the amount of the selllemenl can bg eslimaled reliably. Liabililios are recognised al the amount that the Charity anlicipales il will pay lo settle the debt or the amount il has received as advanced payments for the goods or services it musl provide. Provisions are measured al the best estimate ol the amounts required lo settle the obligation. Where the effect ol the lime value of money is material, the provision is based on the present value of those amounts, discounted al the pre-tax discount rate that rellecls the risks specific lo the liability. The unwinding ol the discount is recognised in the Consolidated statement ol financial activities as a finance cost. 2.13 Financial instrument$ The Group only has financial assets and financial liabilities ol a kind that qtjalify as basic financial inslrumenls. Basic financial instruments are initially recognised at transaction value and subsequently measured al their selllemenl value with the exception of bank loans which are subsequently measured al amortised cost using the elleclive interest method. Page 24
ACORN VILLAGES LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL ST ATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {contlnuedl 2.14 Operating leases Rentals paid under operating leases are charged lo the Consolidated statement of financial activities on a slraighl-line basis over the lease term. 2.15 Penslons The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group lo the fund in respect ol the year. 2.16 Fund accounting General funds are unreslricled funds which are available lor use at the discretion ol the Trustees in furtherance of the general objectives ol the Group and which have not been designated lor other PLJrposes. Reslricled funds are funds which are lo be used in accordance with specific restrictions imposed by donors or which have been raised by the GroLJP lor particular purposes. The costs ol raising and administering such funds are charged against the specific fund. The aim and use o19ach restricted fund is sel out in the notes lo the financial slatemenls. Investment income, gains and losses are allocated to the appropriate fund. Crltlcal accounting estimates and areas of ludgment Eslimales and judgments are continually evaluated and are based on historical experience and other factors, including expeclalions of lulure events that are believed lo be reasonable under the circumstances. Critical accounting estimates and assumptions.. The Charitable company makes eslimales and assumptions concerning the lulure. The resulting accounting eslimales and assumptions will, by definition, seldom equal the related actual results. There are no eslimales and assumptions that have a significant risk ol causing a material adjustment lo the carrying amounts ol assets and liabilities within the next financial year. Income from donatlons and legacies Restricted Unre$trlcted fund$ funds 2024 2024 Total funds 2024 Total funds 2023 Donations 202,511 76,083 278,594 94,575 Total 2023 60,403 34,172 94,575 Page 25
ACORN VILLAGES LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Incorne from charitable activities Restricled lunds 2024 Total funds 2024 Tolai funds 2023 Income from charltable activities - Acorn Village Community Income from charitable activities Government Grants 4,179,957 49.500 4,179,957 49.500 4.033, 108 127,243 4,229,457 4,229,457 4, 154.351 Income from other trading actlvltles Income f rom fundraising events Unrestricted funds 2024 Total funds 2024 Total funds 2023 Fundraising aclivilies 503 503 1,206 Income from non charitable tradlng activities Unrestricted funds 2024 Total funds 2024 Total funds 2025 Trading income - Acorn Village ITradingl Limited Trading income - Acorn Village (Acornsl Limited 57,245 73,900 57,245 73,900 55,798 56.715 131,145 131,145 111,973 Page 26
ACORN VILLAGES LIMITED {A company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investment incomo Unrestricted funds 2024 Total lunds 2024 Tolai funds 2023 Investment income - dividends receivablg from listed fixed asset investments 37,256 37,256 30,645 Expenditure on ralslng funds Costs of raislng voluntary income Restrlcted Unrestrlcted funds funds 2024 2024 Total funds 2024 Total funds 2025 Direct Fund Raising Expenses Support Fund Raising Expenses Governan¢e Costs Costs ol raising voluntary income - wages and salaries 2,491 2,491 3,828 3,215 62 3,967 2,962 3,828 3,215 69,328 69,328 61,187 2,491 76,371 78,862 68,172 Total 2023 62 68,110 68,172 Page 27
ACORN VILLAGES LIMITED (A company Ilmlted by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on ralslng funds leontinuedl other trading expenses Unre$trlcted funds 2024 Total funds 2024 Total funds 2023 Trading expenses Acorn Village (Acorns) Limited Trading expenses Acorn Village (Tradingl Limited Acorn Village (Tradingl Limited - depreciation 1,025 28,510 86 1,025 28,510 3,915 23,971 105 29,621 29,621 27,931 Analysis of expenditure by actlvltles Acorn Vlllage Communlty 2024 Totsl funds 2024 Total funds 2023 Acorn Village Community 4,542,393 4.542,393 4,441,916 Page 28
ACORN VILLAGES LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of expenditure by actlvlties (continued) Analysis of costs Acorn Vlllage Community 2024 Total funds 2024 Tolai lunds 2023 Stall costs Depreciation Food and household expenses Agency stall costs Stall training costs Waste disposal Project costs Registration and subscription lees Rent 3,749,212 113,530 102,011 10,172 12,366 31,085 57,866 22,358 4,515 30,486 3,749,212 113,530 102,011 10.172 12,366 31,085 57,866 22,358 4,515 30,486 3, 762, 110 116,984 100.364 47,066 13, 199 26,026 7,296 25,809 4,515 27,620 Rates and water k Ill Insurance 27,116 59,651 200,009 8,711 6,518 29,118 37,165 13,253 3,150 3,846 20,255 27,116 59,651 200.009 8.711 6,518 29.118 37.165 13,253 3,150 3,846 20,255 30,264 59, 154 87,772 5,643 5,945 33.981 41,951 22,105 3,725 2,462 18,527 Energy costs Property maintenance Hire ol equipment Alarms and security Office supplies Travel and motor expenses Professional lees Bank charges Cleaning supplies Stall welfare supplies 4,542,393 4.542,393 4,441,916 10. Audllors. remuneration 2024 2023 Fees payable to the Charity's auditor lor the audit ol the Charity's annual accounts 11.700 11.700 Page 29
ACORN VILLAGES LIMITED (A ¢ompany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Staff costs Group 2024 Group 2023 Charity 2024 Charity 2023 Wages and salaries Social security costs Operating costs of defined contribution pension schemes 3,484,494 267,008 3,483,84i 275,288 3,484,494 267.008 3,483,847 273,288 67,038 66, 162 67,038 66, 162 3,818,540 3,823,291 3,818,540 3.823,29i The average number of persons employed by the Charity during the year was as follows- Group 2024 No. Group 2023 No. Charlty 2024 No. Charity 2023 No. Adminislralion and Management Staff Care Slafl Training Staff Maintenance Staff Educational fherapeulic Services Stall Collee Shop 20 137 19 144 20 137 Ig 176 182 176 182 The number of employees whose employee benefits lexcluding employer pension costs) exceeded £60,000 was.. Group 2024 No. Group 2023 No. In the band £60,001 £70,000 The key management personnel ol the Charity are considered lo be the Chief Executive Officer, the Operations Manager and the Sgnior Registered Manager. The lolal employee benefits, excluding pension conlribulions, ol the key management personnel are £168,884 during the year ended 31 st March 2023 12023 '. £165,327>. 12. Trustees, remun8ration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL). Page 30
ACORN VILLAGES LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Tangible fixed assets Group Freehold Soft property furnlshlngs Motor Fixtures and vehicles fittings Total Cost or valuatlon Al 1 April 2023 Additions 4,931.785 52,297 109.365 6,995 114,330} 532.366 24.770 {20,459} 5,625,813 31.765 (34.7891 Disposals At 31 March 2024 4.931,785 52,297 102.030 536,677 5,622,789 Depreciatlon At 1 April 2023 Charge for the year On disposals 1,824.642 81,218 82.345 7,116 18,315) 453,179 28.111 120,459) 2,360,166 116,445 {28,7741 At 31 March 2024 1,905,860 81,146 460,831 2.447,837 Net book value Al 31 March 2024 3,025,925 52,297 20,884 75,846 3,174.952 At 31 March 2025 3, 107, 143 52,297 27,020 79, 18? 3,285,647 Charlty Freehold property Plant and machinery Motor Fixture$ and vehicles fittings Total Cost or valuallon Al 1 April 2023 Additions Disposals 4,931.785 52,297 109,365 6,995 114,3301 530,663 24,770 120,459) 5,624,110 31,765 {34,789) Al 31 March 2024 4,931.785 52,297 102.030 534,974 5,621,086 Page 31
ACORN VILLAGES LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Tangiblo fixed assets (continued) Charity (continued) Freehold property Plant and machlnery Motor Fixtures and vehlcles fittings Total Depreclatlon At 1 April 2023 Charge lor the year On disposals 1,824,642 81,218 82,345 7,116 (8,3151 451,947 28,024 (20,4591 2,358,934 116,358 128.774) Al 31 March 2024 1.905.860 81,146 459,512 2.446,518 Net book value At 31 March 2024 3,025,925 52.297 20,884 75,462 3,174.568 At 31 Mar¢h 2023 3, 107, 143 52,297 27,020 78,716 3,265, 7 76 14. Fixed asset inveslments Listed investments Group Cost or valuatlon At 1 April 2023 Revaluations 861.477 28,552 At 31 March 2024 890.029 Net book value Al 31 March 2024 890,029 At 31 March 2023 861.47/ Page 32
ACORN VILLAGES LIMITED {A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Fixed asset Investments l¢ontlnued) Listed investments Charlty Cost or valuatlon Al 1 April 2023 Revalualions 861,477 28.552 At 31 March 2024 890.029 Net book value Al 31 March 2024 890,029 At 31 M8rch 2023 861,477 15. Stocks Group 2024 Group 2023 Charity 2024 Charity 2023 Stock of materials and consumables 8,721 9,333 7,292 8,410 16. Dobtor$ Group 2024 Group 2023 Charity 2024 Charity 2023 Due wlthln one year Trade debtors Other debtors Prepayments and accrued ineome 102,797 5,032 90,738 77, 130 6,066 65,771 102,797 106,526 90,738 77, 130 90,045 65,771 198,567 148,96i 300.061 232,946 Page 33
ACORN VILLAGES LIMITED IA company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Credltor$: Amounts falllng due wlthln one year Group 2024 Group 2023 Charlty 2024 Charity 2023 Trade creditors Other laxatlDn and social security Other creditors Accruals and deferred income 170.634 65,022 178,785 37,263 91,039 82,344 179, 722 35,534 170,292 65,022 178,785 37,263 89,550 82,344 179, 727 35,534 451.704 388,639 451,362 387,149 18, Financial instruments Group 2024 Group 2023 Charlty 2024 Charity 2023 Flnanclal assets Financial assets measured al lair value through income and expenditure 926.937 796,086 826,911 772,007 19. Statement of funds Statement of funds- current year Balance at 31 March 2024 Balance at 1 Aprll 2023 Transfers inlout Gainsl {Los$es} Income Expgnditure Unrestricted funds General Funds all funds Trading subsidiaries 2,925,498 113,842 1108.989) 101.525 28.552 3,060,428 131,145 129,620) {101,525) 2,925,502 244,987 1138,609) 28.552 3,060,432 Reslricted funds Page 34
ACORN VILLAGES LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. Statement of fund$ {eontlnued} Statement of fund$ - ¢urrent year {continuedl Balance at 31 March 2024 Balance at 1 Aprll 2023 Transfers Inlout Gain91 (Losses) Income Expenditure Acorn Village Community Capital Fund Freehold Property Fixtures, Fittings and Equipment Sundry Tools and Soft Furnishings Molor Vehicles Wellbeing Pod National Heritage Lollery FLJnd Grants towards property refurbishment Other reslricled funds 132,777 998 4,229.457 (4,288,074) 74,160 998 1,549,249 (30,555) 1,518,694 6,741 11,877) 4,864 200 710 26,843 21x1 525 {185) 26,843 41.628 40,000 (39,059) 42,569 90,000 190,0001 8,223 72.511 162,5171 18.217 1.767,369 4,431,968 {4,512,2671 1,687,070 Total ol funds 4,692,871 4,676.955 14,650,876) 28.552 4,747.502 Page 35
ACORN VILLAGES LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. Statement of funds {continued) The Acorn Village Community Fund is lo support all charity residents, providing care and support. Fixed asset restric18d funds are where items or funds lo acquire assets have been given lo the charity for a specifi¢ purpose lo support the work and activities ol the charity. The Wellbeing Pod Fund is lo improve the wellbeing services lor our slafling teams particularly having been through Covid. The Heritage National Lollery Fund is for a project lo showcase the heritage of the sile exploring the the history into the present. The money will create an accessible garden area that can be used lor workshops. 11 will create a walk around the sile exploring the history and it has created a apple press facility so as we can press existing fruit from established trees bul also support new tress that have been planted. 11 will also create strong links with different community groups who have and will be involved in the project going lonNard. A small nurnber ol grants including Bally Thomas, Will charitable Trust and The Clotworkers Trust were received lo help renovate a number ol the residential properties. Other reslriclod funds are lo support specific projects that are all consislenl with the charities aims and ethos. Statement of funds . prior year As Hestateo Balance al l April 2022 BalanGe al 37 March 2023 Transfers in/oul Gain (Losses) Income Expenditur6 Unrestrlcted fund$ General Funds - all funds 3.293,611 177,936 (170,283J {339,623) (36, 143J 2,925,498 Trading subsidiaries 3,293,815 177,936 f7 70,283) (339,623) (36, 143) 2,925,50 Restrlcled funds Acorn Village Community Capital Fund Freehold Property 4, 154,351 {4,320,479J 298.845 132, 777 998 998 7,539,026 130,555) 40, 778 1.549,249 Page 36
ACORN VILLAGES LIMITED (A ¢ompany limited by guaranteo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. statement of funds {continued) Statement of funds- prior year Icontinuedl As Fleslateo Balance al l April 2022 B818nce al 31 March 2023 Transfers in/oul Gains/ (Losses) Income Expenditure Fixtures, Fillings and EqLJipmenl Sundry Tools and Soli Furnishings Motor Vehicles Wellbeing Pod National Heritage Lottery Fund Other reslricled grants 6,476 3,358 (3,093) 6,741 200 200 770 26,843 956 (246) 26,843 50,000 [8,372J 41,628 6,229 7,045 f5,051J 8.223 1,580, 728 4,214, 754 14,357, 736) 339,623 1,767,359 Total of funds 4,874,343 4.392,690 {4,538,019) (36, 143) 4,692,871 20. Summary of funds Summary of funds- current year Balance at 31 March 2024 Balance at 1 Aprll 2023 Transfers Inlout Galnsl {Los$e$l Income Expendlture General ILJnds Restricted funds 2.925,502 1,767,369 244,987 1138,6091 4.431.968 {4,512,2671 28,552 3,060,432 1,687,070 4.692,871 4,676,955 14,650,876) 28.552 4,747.502 Page 37
ACORN VILLAGES LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Summary of funds Icontlnuedl Summary of funds- prlor year Balan as re-stated al l April 2022 Balance al 37 March 2023 Transfers in/oul Gain& (Lossesj Income Expenditure General funds Reslricled funds 3,293.675 1,580. 728 177.936 4,214,754 (170,283) f4,367, 736) (339,623) 339,623 (36. 143) 2,925,502 7,767,369 4,874,343 4,392,690 [4,538,019) (36, 143) 4,692,871 21. Analysis of net assets between funds Analysis of nel assets between funds - currenl period Restrlcted Unrestrleled funds fund$ 2024 2024 Total funds 2024 Tangible fixed assets Fixed asset investments Current assets Creditors du8 within one year 1,524,283 1,650,669 890,029 971,438 1451,7041 3.174.952 890,029 1,134,225 1451,704) 162,787 Tot81 1,687,070 3,060,432 4,747,502 Page 38
ACORN VILLAGES LIMITED (A company limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. Reconciliation of net movement in funds to net cash flow from operating activities Group 2024 Group 2023 Nel incomelexpendilure for the period las per Statement ol Financial Activiliesl 54.631 (181,472) Adlustments for: Deprecialion charges Gainslllossesl on investments Dividends, interests and rents from investments Lossllprolitl on the sale of fixed assets Decrease in stocks Decreasellincreasel in debtors Increase in creditors 116,445 {28,5521 {37,2561 12,8271 612 {49.6001 63.065 7 16,896 36, 143 (30,645) 591 232 46,560 46,322 Net cash provlded by operating activities 116,518 34,221 23. Analysis of cash and ¢ash equlvalents Group 2024 Group 2023 Cash in hand Deposit accounts Bank current accounts 11.907 403,768 511,262 3.854 584,264 207,968 Total cagh and cash equivalents 926,937 796,086 24. Analysis of ¢hange$ In net debt At 1 April 2023 Cash flows At 31 March 2024 Cash al bank and in hand 796,086 130,851 926,937 796,086 130,851 926.937 Page 39
ACORN VILLAGES LIMITED (A company limited by guarantge) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 24. Analysis of changes in net debt (continued) 25. Pension commltmenls The group operates a defined contribution pension schemo. The assets of the scheme are held separately from those ol the group in an independently administered fund. The pension cost charge represents contributions payable by the group lo the fund and amounted lo £nil12023 - £nill were payable lo the fund al the balance sheet dale. 26. Operating lease commitmen1$ Ai 31 March 2024 the Group and the Charity had commitments to make lulure minimum18ase payments under non-cancellable operating leases as follows.. Group 2024 Group 2023 Charity 2023 Not later than 1 year Later than 1 year and not later than 5 years 1.529 4,204 1.52g 5. 733 5,733 7.262 27. Members. Ilablllty Each member ol the charitable company undertakes to contribute to the assets ol the company in the event of il being wound up while helshe is a member, or within one year aller helshe ceases lo be a member, such amount as may be required, not exceeding £10 lor the debts and liabilities contracted before he/sh& ceases lo be a member. Ouring the year ended 31 March 2012 the Memorandum and Articles ol Association of the Company wero amended, the principal change being that membership ol the Company is now limited lo those who are Directors. 28. Related party tran9actlons The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity al 31 March 2024. 29. Prln¢ipal subsldlaries The following were subsidiary undertakings ol the Charity= Page 40
ACORN VILLAGES LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 29. Prlnclpal subsidiaries {continued} Names Company number Registered off ice or principal Principal activity place of business Acorn Village ITradingl Limited 02978015 Acorn Village, Mistley Hall. Clacton Road, Misiley, Manninglree. C011 2NJ Acorn Village, Mislley Hall. Clacton Road, Misiley. Manninglree. C011 2NJ The trading subsidiary operates the Coffee Shop al Acorn Village The trading subsidiary opeales the charity shops in Manninglree and al Acorn Village Acorn Villag8 (Acorns) Limited 06242791 The financial results ol the subsidiaries lor the year were- Names Income Expenditure Profltl(Loss) I Surplusl (Deflcltl lor the year Acorn Village ITradingl Limited Acorn Village IA¢orn81 Limited 57,245 73,900 1,025 28,595 56,220 45,305 The shares in both trading subsidiaries are held by the Chaiman and the Chief Executive on behalf ol Acorn Villages Limited. The whole of the profil of both trading subsidiaries is donated to Acorn Villages Limiled by way ol a gift aid dislribulion. Page 41