Company regislrallon number- 01309538 Charity registration number.. 273631 Newland Hurst Llmlled IA company Ilmiled by guarantee) Annual RepDrt and Flnandal Slal8ments for the Yèar Endod 31 March 2025
Newland Hurst Llmlted Contents Trustees, Report 1to6 Statement of Truslggs, Responslbllllies Independent Examln*s Report statement of Flnancial Activities Balance Sheet 10 ststèmènl of Cash Flows 11 Notes to th& Flnandal Slalements 12to22
Newland Hurst Llmltod Truste&s' Report Tho Iruslees, who are dlrectors for the purposes of company law, present the annual rèport together th Ihe financlal statements of the Chatabl6 company for the year ended 31 March 2025. Oblectlvès and actlvltles 0ty8cts and alms The purpose of Newland Hurst Is primarily to provide people with a l&arnlng dlsablllty support, lo liv8 Ihelr lives In a way of Ih81r chooslng. whlle providing good quallly care and SUPPDrt accompanled by warmth and fellowshlp, giving Indlvlduals opportunllies lo grow and learn through lif& experience. meetlng all thelr soclal, medical, and splrllual needs. The alm of the Gharlly Is to also ensure that residents ar& valued, visible, conlribulory members of tha local communlly, In turn, providlng them wllh a sense of pvrpos6 and achiev8m8nl In whlchever sectors they feel that th8y can make a difference. Whether thls be maklng and selling a product, being the member of e club, or 8lmply 8nrichlng tho dSverslty of the IoGal area. We alm to meet tha abov8 crll&rla and lo meet or exce8d Ihg standards set out by the Care Quallly Ciimmisslon, the local aulhorlty, and olh6r bodies with Te5ponslblllty lo regulate 8nd monltor th8 quallty of our operations, as well as the transparent Involvement of family members and othgr stakeholders. To achieve Ihls alm, we ¢ontlnuously re-assess th8 standards of care and support that we provld& to our r8sld8nls. Thls Indudes the upgradlng of the premlses and the constant Improvemgnl In tho quallty of the envlronm8nl, accommodallon. food, hyglene, and h88lth and 88f&ly, In both tha buildlngs and Ihe grounds. The quallty of lifa of th8 SIdentS is assured by the provlslon of adequala properly Iralned staff, whose comp8t8nce and abllity ar8 cont1nLusIY monitored. Objectlves. strat8gles and actlvltl&s As th& resldenls a, Ihelr needs wlll Inevllably chang8, requlrlng an appToprlale respon58 from Newland Hurst as Ihelr care provlder. The charity works In tandem with the commlssioning locsl aulhorilles to 8nsure that every resident rgceives the standard and type of care IheSr condS1ion raqulres. Both the charity and tha Iocgl aulhorllles concerned operat8 a person-cenlred policy whlch ensures that the 18vel of care provided for the Indlvldual 15 fully commensurate with their needs. and. lo thls end. each resldenl Is glven a regular T8vlew In ord8r to r8-assess and change, If necessary, the nalvro of their care. These revSews are allended by the resid8nl, hlslhgr key worker, famlly members, and e represenlatlve fram th8 commisslonlng local aulhorlty. Publlc benefit The chaTllls trustees havo Gomplled wllh thelr duly to have due regard lo the guldance on publ1¢ benef51 publlshed by the Charity Commission for England and Wales. The trusle&s consider that the charlty meets th8 public benefit requirem8nts of seollon 4 of th8 Charlles Act 2017 by carrylng out Its normal acllvllles managing and malnlaining the resldgntial car8 home for the benefit of th8 resldenls and Ihg wldar community. Paga 1
Newland Hurst Llmlted Trust8es' Report Achlevements and porformance The Charity and 118 care servlces are Inspected by lh8 Care Quality Commisslon {CQC). and has consistently rec81ved 8 "Good" ratlng. Our alm is to eGh18ve an "Outstanding" rating conslstenlly In the future, alld, to thls end, at the suggestion of the CQC, we wlll bo sèeklng to Involve the Residents mor8 fully In d8olslons relating to the provision of thelr care. The Charity Is op8n lo Input from the communlly, and has a proactivo pollcy of encouraglng relallonshlps with local schools and activity groups. R&gular events such as vtslts by local school chlldren, together wlth music and yog8 s8ssions, ar8 b8nefial to both communlty and resldents allke, nd th8 charlly Is always open to such events. These aclivitles contribute grèally tr) the CharitV5 objective of maklng a "normal. life availabl8 to the residents. and Informing and educating the public 8bout the realltlès of Ilvlng with a learning disablllty. In addition, th8 resid&nts allend local dubs and interest on a regular basis, and take part In lelsure trips and annual holidays. Acdvltles SLJch as these have both lelsure and educailonal benefits, and also health and th8repeutio benefits. Familles of resldents. and professional vlsltors who come to the Charitvs prgm15es are encouraged to glve thelr Impresslons of their visit and mak8 any suggesllons that might occur lo thèm at Ihe tlme of Ih8ir visit. Thes@ contributions play an Important rol& In delermlnlng what Improvements might b6 ng8ded In the n8ar or mor8 distant futur&. Another malor conlributlon Is made by volunle&rs who assist in d@Ilvèrlng carè, wllh resldents, holldays, and providlng Iransporl. Page 2
Newland Hurst Llmlted Trustees, Report Flnanclal rèvléw The main long-lerm alm of the Charlty Is to ensure thal11 ¥MII remaln financlally sound and sustainable for tha for8seeabl8 future, and lo IhSs end durlng the reportlng period, the Charlty has engaged wilh all of the commissioning local aulhorili8s lo secur8 Improvements in funding the Resldenls for whom they ale responslble. Followlng the sale of18nd In 2013, the Charity has been able lo Invest Over £2million In capital, and this has continued to Oeld a usèful Incomè. The Charllls pollcy Is lo avold uslng capltal for malor Improvemènts, bul lo keep wllhln thè conflnès of what Is madè posslblo by Income. This is lo help prol8Ct tha Charllvs long term finanGSal vlablllly. Fundralslng conslgts malnly of hlrlng out parts of thg pramlses lo loaal aclivlly groups. Th8 Income from Ihese Is comparatively small, but growing through tho efforts of volunteers. This Income helps to financa Resident advities such as16isur6 av&nts and holidays. Page 3
Newland Hurst Llmlted Trustees, Report Penslons and adjustment relatlng to prlorperlod The Charlty h8s hlslorlcally contrfbuted lo the M8rcury Provident Penslon Scheme, a defined benefit, mulli-company schgm8 which has previously been In deficll. In order to ellmlnale Ihls deficll all of the companies in the 8ch8me, indudlng Newland Hurst, agreed lo pay contributions Into a long-lerm recov?ry plan al a rate In¢rèaslng annually by 50%, plus an annual lovy lo the Penslon Protection Fund. The scheme has been under the scwtiny of the Pensions Regulator since 2008, when11 was closed lo future accruals. After dlsoussions with the TruslBe of the pension scheme, th8 Newland Hur8t sectlon of th& group sch8me has been fully segragated. The company Is now only Ilable for the penslons of th8 members f th& schème who were or are employees of Newland Hurst. Tho Irustees havts requested Ihal the Tiustee of th8 p8nslon sch&m8 arranges for a pension PTovld8r lo lake over th& operation of the scheme. Thls wlll mean that the schame Is bought out by the pension provlder and Newland Hurst wlll hav6 no fvrther Involvement in th& funding or running of the scheme. Actuarlos acllng for the penslon scheme have pr8vlously 8sllmaled that the additlon&l liabillly to buy out th6 schgme was £280,000. The Iruslees hav8 segregated from Gen8ral Reserv85 this liablllty lo clearly show the funds av8ilab19 to operate the charfty, Th8 trustees are pleased that the process lo conclude the bLfy out is progresslng although il Is Slow progress. An Indlcalive quotallon lo buy out has been rec&lved based on membership data al 28th February 2023. The quotatlon Is on an exclusive basls and Is £327,000. Acluarl8s advislng th8 Penslon Schetne Trustee have esllmaled Ihe Ilablllty at Ihp same data at £181,000. Several other employers in the Mercury schém8 havé now Indicated that they too wish lo proceed to buy out Ih8Ir respectiv8 sections of th6 scheme. The potential pension PTovlder has indlcated that a more favourabla pric6 may be off6red on the basis of several employers actlng tcgelher. The trustags consider that the fin81 Ilablllly on th8 advlcè given appe8rs to Ile between £181,000 and £327.000. The directors have prevlously provlded £280,000 in th8 accounts 2nd consKler that thls Is reasonabl8 estimate b88ring In mlnd the information available to them. During the year ended 31 March 2025 the sum of £50.000 was pald to Mercury Provid8nl as a part payment towards this. This figure has been Included in Ihg SOFA as a cost undpr dgslgnalad funds and as al tha year end, £230.000 of this fund is caTried forward. Page 4
N8wland Hurst Llmlted Trustees. Report structur&J governanca and managemènt Naturo of governlng document Tha govemlng dUmen1 of the Charily sets ou1118 purpos8 and defln8s the roles and responslbllllies of th6 Trustees. 11 also outlines the procedures by whlch th8 TTUSto8s are appolnled, mak8 key d8clslons, and generally Garry out bu51ness.Tha Charlty Ss reglstered at the Charity Commlsslon for England and Wales, and Is also a limlled Gompany. reglslered at Companles, House. Rè¢rullment and appolntment of trustees All Trustees are aponled int8mally. and havg tr8dillonally been selected from Resldents, famllles or others with a connection lo the Charity. Thls is not onliroly the cas8 now, however, and It Is anlicipaled Ihat, In the future, Trusleas wlll b& appolrkled entirely according lo their experlence and abillty. The procedure for appoinllng a new Trustee Ss that first helshe should becom& a member of the Company. allend Trustee meetings and b9 encouraged to conlrSbul8. In Ihls way11 is possibl8 to assess the Indlvldual'8 level of expèrtise and commilm8nl, tho laller being particularly Imporlant In vi6w of tho fact that tho positlon would bg unpaid and voluntary. Fulure appolnlments lo lh8 TFus188 body wlll be made In accordance with the Charlty CommÉssloll's Trustee and Govemance document "Finding New Trusl8es- What Charfllès Neod To Know, Pag8 5
Newland Hurst Llmlted Trustaes, Report R8ference and Admlnlstrativa Data115 Trustee$ MrJ A Syr88 Mrs D Klrkham Mrs C Webb MrGCWebb Mr J Rowland - r&Sne 30111124 Senlor Managemenl Team Regl$tgTgd Offlcg Mr R Tlmmlns. General Managèr Newland Lane Drollwlch Worcs WR9 7JH The charity is Incorporated In England 8nd Wa18S. Company Reglstratlon Number 01309538 Charlty Reglstratlon Number 273631 Indapottdent Examlnor Ballards LLP Oakmoor& Court 11 C Klngswood Road Hampton Lovell Droitwich Worc8slorshire WR9 QQH Investment Advisors Brewln Dolphln Llmlled 9 Colmore Row Bimiingham B3 2BJ The annual repo behalf by- d slgngd on MrGCWebb Trusl&e Pag& 6
Newland Hurst Llmlted Statoment of Trustees, Responslbllltles Th8 trustèés (who ar8 also the dlre¢lors of Newland Hurst Llmlted for the purposes of company law) arè rèsponslble for wèparlng the Iru5tees' report and the financial slalemenls in accordance with th8 United Klngdom Accounllng Standards (United Klngdom Ganerally Accept8d Accounllng Practice) and applicable law and regulations. Company law requlres thè Iruslèes to proparp financial 5talemenls for each flnanclal year. Under company law th8 trustees musl not approve the flnanclal slatem8nts unless Ih8y are 8allsfled that Ihoy give a true and fair viaw of the slal8 of affalrs of the chaTltable company and of Ils Incomlng resources and appllcation of rasources, Includlng Ils Income and expendllure, for that period. In preparing these financial slatgments, the Iruslees are requir8d to.. solecl suitable accounting pollc18s and apply them conslsl8nlly', observ8 the methods and princlple8 In the Charilles SORP; m8ke judgements and eslimalès that are reasonablB and prudent,. slate wh8th8r appllcabl8 UK AccounlSng Standards have b8en fr)Ilow8d, sublect lo any material departures disclosed and explalned In the financial statements., and prepare the flnandal statements on the golng concern basls unless11 Is Inapproprlal6 lo pr8sume thal tha ch8ri18ble company wlll conllnu8 in buslness. Tha trustees are r8SFK)nsibl8 for keeping adequate accounting records that ara sufflclenl lo show and explaln the charllable companls Iransacllons and dlsclose with reasonab16 accuracy at any time the financlal poslllon of the charllable company al enable them to ensuio that th@ financial statements comply with the Companles Act 2006. They 8re also responslb18 for safvguarding the assets of th6 charSlsbl& company and hence for laklng reasonabl8 steps for th8 preventlon and delectlon of fraud and oth6r Irregularilles. Approved by Ihthlru es of Ihg Gharlty on .. .... ...... ..1 Snd slgned on Its behalf by.. MrGCWeb Trustee Paga 7
Newland Hurst Llmlted Indopendont Examln&r's Report to the trustees of Newland Hurst Llmlted I report on th8 accounts of th8 charity for the year gnded 31 March 2025 whlch are sgt out ¢Jn pages 9 to24. Respectlve responslbllitl85 of trustegs and examlnèr The ITUStees (who are also Ihe directors of the company for the purposes of company law) are responslblts for the prgparation of the accounts. The truste95 ¢onsldar that an audll Is nol required for thls ya8r under section 144121 of th8 Charities Act 2011 Ilhe 2011 Act) and that an Indgpondent examlnalion is needed. The charity's gross income exceeded £250,000 and l am quallfled to undertake the 6xamlnatlon by being 8 qualtfied meMlr of ICAEW. Havlng satisfied myself that the charlly is not sublect to audll under company law and is ellgible for Independent examination, il is my rgsponsibility lo: examlne the accounts und6r section 145 of the 2011 Acl. to ft)Ilow the procedures laid down in the g8ner81 Dlr8clion5 glven by the Charfly Commlsslon under seclSon 14515)(b} of the 2011 Act., and to stale whether p8rtlcul8r matters have come to my allenlion. Basls of Independent examlngr's report My oxamlnalion was carried out In accordance wllh the general Dlr8clions giv8n by th8 Charity Commission. An examinatlon Includes a r&vl8w of th6 accounting records kepl by Ihe charity and compar150n of the accounls presented with those records. 11 also Includes ¢onsSdèration of any unusLtal Items or dlsclosur8s In the accounts, and seeking explanations from you as Irustees conc8rning any suoh m8llers. The procedures undertaken do not provide all the evidence that would b8 r8quired in an audit 8nd conseqiJ8nlly no oplnlon Is glven as to whether the accounts present a Iruè and fair view and the report Is limi18d to those mallers set out In the slatem8nt b810w. Indep8nd8nt examlner's statement In connectlon wilh my examinallon, no maller has Comè to my attentlon.. (11 which gives me reasonable cause lo beli8va that Iri any material respect the requlremènts.. to keep accounting records In accordance wllh sectlon 386 of the Compani88 Act 2006. and to pr8pare accounts whlch accord wlth IhB accounllng r6ttords, comply wllh the accounting requirements ot Section 396 of the Companles Act 2006 and wllh the m&thods and principles of the Stalemgnt of Recomm8nded Practlce.. Accounlln9 and R8porting by Charities havg not b8en met,. or 12} to whlch, Sn my oplnion, attentlon should be drawn In order lo enable a proper understandlng of thè accounts lo b8 r8ached. M A Skellum FCA ICAEW B211ards LLP Oakmoor8 Court 11C Klngswood Road Hampton Lovett DrO1Ich Worc8slershlre WR9 QQH Oate.. Page 8
Newland Hurst Llmited statement of Financial Activlties for Ihe Year Ended 31 March 2025 (Including Income and Exppnditure Account and Slatement of Total Recognised Gains and Losses) Total Deslgnated unrestricted unrestrlcted funds funds 2025 Total unrestricted funds 2024 Unrestricted funds Note Income and Endowments from: Donations and legacies Charitable activities Investment income Other income 1,181 801,661 64,258 1.800 1,181 801,661 64,258 1,800 670 792,399 56,265 900 Total Income 868,900 868,900 850,234 Expendlture on: Raising funds Charitable activities (14,173) 800,439 (14,173) 850,439 (13,213) 805,491 50,000 Total Expenditure Operating surplus Gainsllosses on investment assets 1814.612) 54,288 (50,000) {864,612) 54,288 (818,704) 31,530 16,340 16,340 173,455 Net incomel(expenditure) Net movement in funds 70,628 (50,000) 20.628 204,985 70,628 <50,000) 20,628 204,985 ReconGlllalion of funds Total funds brought forward 2,519,527 280,000 2,799,527 2,594,542 Total funds carried fcward 17 2,590,155 230,000 2,820,155 2,799,527 All of the charity's aclivlties derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 17. Page 9
Nèwland Hurst Llmlted (Reglstratlon number: 01309538 Balance Sheet as at 31 March 2025 2025 2024 Note Flxed assets Tangibl& assets Inveslmenls 12 13 212,479 2,459,528 2 672 007 217,897 2,155,383 2 373 280 Currant assats Debtors Cash al bank and in hand 14 10,373 164,454 174,827 6,419 466,854 473,273 Credltors: Amounts falllng due wlthln one year Net current assets 15 26.679 47,026 148,148 426,247 Net assets 2,820,155 2,799,527 Funds of the charlty: Unrestrlcted Income funds Deslgnated unreslrlcted funds Unreslricled funds 230,000 2,590,155 280,000 2,519,527 Total funds 17 2,820,155 2,799,527 For Ihe financial year ending 31 March 2025 Ihe charity was enlllled to 8xemption from audit under section 477 of the Compani8s Act 2006 r&laling to small companles. Dlrectors, responslbllStles: The members have not required the charity lo obtain an audll of Its accounts for tho year In questlon in accordance with secllon 476; and The directors acknowledge their responsibililles for complying with the requlremenls of the Act with rospecl lo accounllng records and the preparallon of accounts. These accounts have b88n prepared In accordance wlth the provlsions applicable lo companies sublect to the small companies regime. ncial slatemenls on pages 9 to 24 were approved by tha trust885, and authorised for Issu8 on igned on Ihelr behalf by.. MrGCW8bb Trus166 P8ge 10
Newland Hurst Llmlted statement of Cash Flows for thoY9ar Ended 31 March 2025 2025 2024 Note Cash flows from operatlng actlvltles Net cash Income 20,628 204,985 Adjustments to cash flows from nonacash Items D6preclalion Realised (galnsylosses on fixed asset Inveslmenls Bank Interest Unreallsed {galnMoss on Inv&slment assets 18,940 17,5101 14,3681 8,829 1,767 19,644 13,2941 11,0391 170,161 154,850 50.135 18,861 Worklng capltal adjustments Increase In d8blors (Decrèaselllncreas8 in credltors Net cash flows from operating attllvi118S Cash flow8 from Investlng actlvltles Interest recelvable and slmllar Income Purchase of tangible fixed assets Purchase of Investments Sale of Investments 14 15 13,9541 20,347 11,1601 27,561 5,440 76,536 4,368 (13,5221 (523,9881 23fj,182 1,039 (13,0001 {433,8261 431,529 12 13 N&t cash flows from Inv8Sting aollvities N&t Idecr8ase)Jincrease In cash and cash equlvalents Cash and cash equlvalenls al 1 Aprfl Cash and cash equlva18nts al 31 March 296,960 14,258 1302,4001 466,854 62,278 404,576 164,454 466,854 All of the cash flows are derlved from continuing operations durlng the above Iwo porlods. Pag8 11
N8wland Hursl Llmlted Notes to tho Flnanclal Statements for the Year Ended 31 March 2025 1 Accountlng pollclès 8ummary of slgnlflcant accountlng pollcles and key accountlng estlmate8 The princlp81 accounling policl&s applied In tho preparafjon of these financial statements are sel out below. These policies have been consislenlly applied lo all tho years presen18d, unless otheNlse stated. statement of compllan¢) The finanoial statements hav8 b88n prepared In accordanc8 with Accounting and Raportlng by Charllies.. Slatem8nl of Recommended Pract1 appllc2blè lo charflies preparing Ihelr accounts in accordan with the Financial RepoTllng Standard applicable in the UK and Republlc of Ireland (FRS 1021 leffecllve 1 January 20191- (Charities SORP {FRS 102)). the Flnanclal Rewrtlng StarKlard applicable the UK and RepubllG of Ireland (FRS 102) and the Companies Act 2008. Basls of preparatlon Newland Hurst Limited meets the definition of a publlc benefit èntlty under FRS 102. Assets arKI liabilities aro initially recognised at historical cost or transacllon value unless olherwLse staled In the relevant 8Gcounllng pollcy notes. Income and endowments All Incom8 Is recognlsed onc8 tha charSly has enullèmènl to the Incomo, 51 Is probable that the income wlll bg reGelved and the amount of tho Income receivable can be measured rellably. Exp&nd5ture All gxpendilure is recognised once Ih8re Is a legal or constructive obllgatlon to that axpendlturè, It Is probabl8 setll8menl is requlred and the amount can be measured rellably. All costs arè allocat to the applicabl8 expenditure heading that aggrega18 simllar costs to that category. Where cosls cannot b& dlrectly attrlbuled lo partlcular headlngs they have been allocated on a basis consistent with the usa of resources, with celllral staff costs allocated on the ba5L8 of lime spent, and doprecialion charges allocated on th& porlion of lh6 8ss@I's use. Other support costs 8re 8llocated based on the spr&ad of staff costs. Govèrnancg ¢0stS These Includ8 tha costs 2ttrlbul8ble to thè charlty's Ix)mpllance with Gonslilulional and statutory requirem6nls, Sncludlng AL1t, Strat1¢ managomenl and twslees's meeungs and relmbursed expenses. Taxatlon Thé charity Is considered to pass the tests sot out In Paragraph 1 Schedule 6 of the Financ& Act 2010 and therefore It meets th6 d6finlllon of a charitabl& company for UK corporatlon lax purposes. Accordingly, the charity Is potentially 6xempt from l&xallon in respect of Income or capllal galns rec81ved withln categories covered by Chapter 3 Parl 11 of th8 Corporation Tax Act 2010 or Secllon 256 of th8 Taxation of Ch8rgeable Galns Aol 1992, lo th& 8xl8nl that such incom& or gains ar8 applied exclu8lV8ly lo charitabl8 purposes. Page 12
Nftwland Hurst Llmlted Notes to the Flnanclal Statements for the Year Ended 31 March 2025 Tanglble flxed assets Illdivldual fixed assets are Inlllally recorded al cost, less any subsequent accumulated deprgdalion and subsgquent aocumulated Impalrment losses. Depreclatlon and amortlsatlon Depr8clation is provkled on tanglble fixed assets so as to wrlle off the cost or valuallon, less any esllmated resldual valu8, over Ihelr &xpected useful economlc lrfo as follows,. Asset Gla55 Land and bulldlngs Furniturg and equipm8nl Motor vehlcles Depre¢latlon method and rate 20/0 on cost 15Yo on cost 25% on cost Flxed asset Investments Flxed asset inveslmenls, other than programme r818ied Investmen18, Bra Included at market value al the balance sheet dale. Realised gains and losses on Inveslm8nts are calcula18d as the dlfference between s8les proceeds Ihelr market value al the start of the year, or their subsequent cost, and are charged or credll8d to the Slal8menl of Financial Acllvllies In IhB perlod of dlsposal. Unr&alSsed gains and losses r8pres8nl the movement In market values durlng the year and 8r8 credlled or charged to the Statement of Flnanclal Acllvllles based on th8 market value al th& yaar end. Fund structure Unrestricted incomo funds are general funds that are avallable for us& at th8 Irustees's dlscrelion in furthorance of the oblecllv8s of th8 charlty. D8slgnated fund rgpresenls monles Sel aslde for the esllmaled addllional liabllity to buy out the penslon scheme. Pag8 13
Newland Hurst Llmlted Notes lo the Flnanclal Statements tor the Year Ended 31 March 2025 Penslons and other post retirement obligatlons and adjustment relatlng to prlor perlod Tha Charlty has hlstorlcally contrlbuled lo the Mercury Provldenl Penslon Scheme, a defined benefit, mulll-company scheme whlGh has prevlously been In deficll. In order lo elimln818 thls deficlt all of the companies In th8 scheme, Includlng Nthand Hurst, agreed to pay contribullons Into a long-term recovery plan at a r918 Inorea51ng annually by 5%, plu5 an annual levy to the Penslon Protecllon Fund. The scheme has been under the sorullny of the Pensions Regulator since 2008, when It was closed to future accruals. Aflor discussions with the Trustee of the pension sch6m&, th8 Newland Hurst sectlon of th8 group scheme has been fully segregated. The company Is now only liabl8 for the penslons of the members of Ihg saheme who were or ara employe8s of Newland Hurst. Th8 trustees hav6 requested that th8 TnJ816è of tha pension SGheme arranges for a penslon provlder to lake over thè operatlon of thè schame. This will mèan that IhB SGheme Is bought out by the pension provlder and Newland Hurst wlll h8v6 no furthar Involvoménl In the ftjndlng or runnlng of the scheme. Actuarf85 acllng for th8 p8nslon 8ch8m8 have prevlously esllmated that the additional liability lo buy out tha scheme was £280,000. The truste88 have segregated from General Reserves thls liablllty to ol&arly show the funds available lo opgralg tha charity. Th8 Irustggs ar8 pleased that the prooess lo conclude th8 buy out is progressing although il is slow progress. An indicative quotation to buy out has been racelved based on momborshlp data at 28th February 2023. The quotallon is on an excluslve basis and Is £327,000. Acluarios advising th& Pension Scheme Trustee hav8 8slimated th& Ilablllty al th8 sam8 date 81 £181,000. Several oth8r employers In the Mercury scheme hav8 now indlcaled that thèy too wlsh lo proc8gd lo buy out Ihelr respecllvo sectlons of tho scheme. The potential pension provlder has indicated that MOTO favourable price may be offered on the basis of several employers actlng together. Th& Irusta&s consldèr that the fln&l Ilablllly on th& advlce glven appaars lo Ile between £181,000 and £327,000. The dlruclors hava prèvlously provlded £280,000 In the accounts and consldgr that Ihls Is a reasonable estimate bearing in mind the Informatlon available to them. Durlng th8 year 8nded 31 M8rch 2025 th8 sum of £50,000 was peld to Mercury Provldenl as e part payment towards this. This flgurg has been Included in the SOFA as a cost under designated funds and as at the year end, £230,000 of thls fund Is carded foTward. Slnce the 8bov8 sch8m8 was closed to naw entrants som8 tlm& ago and th8 charltys staglng dale for aulomallc enrolment was 1 November 2016, the charity has now s81 up a naw dgfinad contributions scheme with Peoples Penslon contributions to this schemB ara av£ounled for wh8n paid. Pag8 14
Newland Hurst Llmlted Notes to th8 Flnanclal Statem&nts for th8 Ygar Endod 31 March 2025 2 Income Irom donatlons and lègacles Unrestrlcted funds Total 2025 Total 2024 General Donations and legacies: Donallons 1,181 1,181 1,181 1,181 670 670 3 Invostmont Incomo Unrestrlcted funds Total 2025 Total 2024 General Income from dlvld8nds: Dlvldonds Inlerost receivable and similar income., Bank Interest 59,890 59,890 55,226 4.368 4.368 1,039 64.258 64.258 56,265 4 Income from charltable activltles Unreslrlcted funds Total 2025 Total 2024 General Accomodalion and care 801.661 801,661 792,399 5 Other Incomo Unrestrlcted funds Total 2025 Total 2024 General Rental Income 1,800 1,800 goo Page 15
Newland Hurst Llmlted Notes to the Financlal Statèmènts for the Year Ended 31 March 2025 6 Expendlture on ralslng funds a) Investmènt manag8mant costs Unrestrlcted funds Total 2025 Total 2024 General Olh8r Investment management costs; Portfolio manag8m&nt 14,173 14,173 14,173 13,213 13,213 14,173 7 Expendlturft on Gharltable actlvltles Unrestrlcted funds Deslgnated unrestrlcted funds Total 2025 Total 2024 General Note Accomodalion and care Support costs - Accomodation 8nd care Gov8rnanc& costs 736,144 50,000 786,144 711,629 8,590 55.705 8,590 55,705 850,439 38,891 54,971 805,491 800,439 50,000 8 Analysls of g¢)vernance and support costs Governan¢9 ¢O$ts Unrestrlcted funds Total 2025 Total 2024 Gengral staff costs Wages and salarlès Social securlty costs Pension costs Other governance costs 51,122 3.577 956 50 51,122 3,577 956 50 50,749 3,312 910 55,705 55,705 54,971 Page 16
Newland Hurst Llmlted Notes to the Flnanclal Statements tor the Year Ended 31 March 2025 9 Net Incomlngloutgolng resources Not incomingloulgolng resources for the year Is staled after charglnty{credlllngl- 2025 2024 D8preclation of flxed a8sels 18,940 19,644 Th8re was a nel operatlng surplus for the year of £4,28812024 surplus.. £31,530) before accountlng galns or profits and losses on Investments. 10 Trust885 remuneratlon and axpenses No Irusle8. or any persons connected wllh them, have recelvod any remvneratlon Irom the charlty durlng the year. No Iruslees hava r8c6lved any relmbursed exp8$ from the charSty durlng the year. 11 Staff costs Thg aggregat8 P8yroll costs were as follows.. 2025 2024 staff costs durlng the year w8r8: Wages and salarle8 Sodal securlty cos18 Penslon costs 511,223 35,766 9,564 556,553 507,488 33,121 9,102 549,711 Th8 monthly average number of persons (including SBnlor manag&Mt team) employed by the charity during tha y8ar expressed as full Ilme 8quivalents was as follows.. 2025 No 2024 26 27 No &mploy88 rec&iv8d emoluments of more than £60,OQO during Ihg year. Page 17
Newland Hurst Llmlted Notes to the Flnanclal Statèments for the Year Ended 31 March 2025 12 Tanglblg flxed assets Furnlture and equlpmont Land and buildlngs Motor vèhlclès Total Cost At 1 Apdl 2024 Additions 365,451 289,322 13,522 34,640 689.413 13,522 Al 31 March 2025 365,451 302,844 34,640 702.935 Dgpreclatlon Al 1 April 2024 Charge ft)r the y8ar 173,Q49 7,309 265,560 10,331 32,907 1,3QNJ 471.516 18.940 At 31 March 2025 180,358 275.891 34,207 490.456 Net bookvalue At 31 March 2025 185,093 26,953 433 212,479 At 31 March 2024 192,402 23,762 1,733 217,897 13 Fixed asset Investments 2025 2024 Other investments 2,459.528 2,155,383 Page 18
Nèwland Hurst Llmltod Notes to the Flnanclal Statements for the Year Ended 31 March 2025 Other Investments Llsted Investments Total Cost or Valuatlon Al 1 Aprll 2024 Revaluallon Addllions Disposals 2,155.383 2,155,383 8,829 8,829 523,988 523,988 228,672 228,672 Al 31 Merch 2025 2 459.528 2,459,528 Net book value Al 31 March 2025 2,459.528 2,459,528 Al 31 March 2024 2,155,383 2,155.383 14 Debtors 2025 2024 Trade debtors Prepayrnenls 1,748 8,625 100 6.319 10.373 6,419 15 Credltors.. amounts falllng due wlthln one year 2025 2024 Trade credllors other laxalion 8nd 80clal security OthgT creditors Accruals 12,791 9,766 392 3.730 26,679 12,090 9,646 1,560 23,730 47,026 16 Ponsion and other schfrmes Deflned contrlbutlon penslon scheme The charlly operates a defined Gonlrlbuuon penslon scheme. The pension cost charga for the year r8pr8senls conlrlbullons payable by the charlty lo the sch8m8 and amounted to £9,56412024- £9.1021. Page 19
Newland Hurst Llmlted Notes to thè Flnanclal Statements for thè Year Ended 31 March 2025 Defined beneflt penslon s¢homttB The Charity has hlslor4cally contributed to the Mercury Provident Penslon Schem8, a d8flned b8nefll, multl-company sGhBme which has pr8vlously been in deftcil. In ordar lo eliminate this deficit all of the companies In the schemo, Including Newland Hurst, agreed lo pay conlrlbulions into a long-temi recovery plan al a rate Increaslng annually by 5 /.. plus an annual levy to the Penslon Protecllon Fund. Th8 schame has been und8r the scrutiny of tho Pensions Regulator slnce 2008, wh8n11 was closed to futura accruals. More Informatlon on thls Is providad In the Trustees Rgporl. Page 20
Newland Hurst Llmlted NotBs to the Flnanclal Statements for the Yoar Endgd 31 March 2025 17 Funds other T&cogtiisgd galnsl<loss85) Balance at 31 March 2025 Balanca at 1 April 2024 Incomlng rasources Resourcas &xp&nded Unrestrlctèd fund5 General Unreslrloted fund 2.519.527 868.900 1814,612) 16,340 2,590,155 Deslgnatod D8slgnated unroslrlcled fund Total funds 280,0(K) 50.000 230.000 2,799,527 868.900 864,612 16,340 2,820,155 Other Resources racognlsod expgndod galnsl(10sses) Balanca at 31 March 2024 Balancè at 1 Aprll 2023 Incomlng re50urc95 UnroStrl¢lod funds General Unroslricted fvnd 2.314,542 850,234 (818,704) 173,455 2,519,527 Deslgnated Deslgnated unreslrlcled fund Total funds 280,OCKI 280,000 2.594,542 850,234 818,704 173,455 2,799,527 18 Analysls of net assets botwoen funds Unrestrlcted fund5 Deslgnated unrestrlcted funds G8n8ral Total funds Tangible fixed assets Flxed asset Investments Current assets Current Ilabllili&8 212,479 2,229,528 174,827 26,679 212,479 2,459,528 174.827 26,679 230,000 Total net 8S58ts 2.590,155 230,000 2,820,155 Page 21
Npwland Hurst Llmltèd Note5 to thè Flnanclal Statements for the Year Ended 31 March 2025 19 Analysls of net funds At 31 March 2025 At 1 Aprll 2024 Cash flow Cash at bank and In hand 466,854 1302,400) 164,454 Net debt 466,854 1302,400) 184,454 20 Related party transactlons Durlng Iha yèar the charfly made the following related party transactions.. DuFing the year, Mrs D Klrkham, a trustee of the ¢harlty, worked as a carer for Nand Hurst Limlled 2nd recelved wages of £11,681 {2024: £6,549}. P8g8 22
Nawland Hurst Llmlted Unrestrlctèd funds Total 2025 Total 2024 General Daslgnatgd Incomg and Endowmants from: t)onallons Fees and accommodation charg&s Divldends Bank Interest Rental incoma 1,181 801,661 59,890 4,368 1,800 1,181 801,661 59,890 4,368 1,800 670 792,399 55,226 1,039 goo Total Income 868,goo 868 900 850,234 Expgndlture on: Portfollo management Wage8 Social securlly Pensiong Penslon8 - defined ben8fll Council charg8 Llghl, heat and wator Insurancè Repairs and rn8lnt&nan T81ephona and offic 8xp8ns8S G8neral supplles Sundry expenses Motor and travelling expgnses Holldays, oullngs and entertalnmenl Accountancy fees Sollcilor8 feas Bank and profes8lonal charge8 Depreclalion Wagas and salarte5 - Governance Gosls Sodal s8curlly - Gov¢rnanre Costs Penslons - Governance costs Other Interest payable Total Expenditure OpeTaling surplus R8alised Igainsllk)sses Dn flxed asset 1nveslm8nls Unre81ised {gain)Aoss on Inv8slmenl assets 14.173 460,101 32,189 8,608 14,173 460,101 32,189 8,608 50,000 7,866 37,944 7,639 29,646 10,649 78,917 6,270 11,709 13,213 456.739 29,809 8,192 50,000 7,866 37,944 7,639 29,646 10,649 78,917 6,270 11.709 2,658 21,772 6,948 19,056 5,708 81,232 5,007 12,990 25,666 5,304 25,666 5,304 41,874 4,811 32,066 2,014 19,644 3.286 18.940 3,286 18,940 51.122 3,577 956 51,122 3,577 956 50 50.749 3,312 910 {814,6121 54,288 150,0001 (864,612) 54,288 (818.704) 31,530 17,5101 (7.510) {3,294) 8,830 8,830 1170.161) Nel Incomellexp8ndlturel Nel movement in funds 70,628 50,000 20,628 204,985 70,628 150,000) 20,628 204.985 Page 23
Newland Hurst Llmlted Unr85trlGted funds Total 2025 Total 2024 General Deslgnated Reconclllatlon of funds Total funds brought fotward Total funds carrled forward 2,519,527 280,000 2,799.527 2,594,542 2,590,155 230.000 2,820,155 2,799,527 Page 24