Chaiity registration number 274222 IEn9land Wales1 Company registration number 01324318 REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED LEGALAND ADMINISTRATIVE INFORMATION Tru$t09S L Gtay S Haigh S Moslyn N Wame¥ Mr C Evans (Appoinied 26 November 20241 Secretary S Moslyn Charity number 274222 Cornpany number 01324318 Principal address C(F•Aey Road Manzil Way Oxford Oxfordshwe UK OX4 1YH Reg15tered office coWY Road Manzil Way Oxford Oxfordshire UK OX4 1YH Auditor Richardsons Chartered Accountants 30 Upper Hvjh Slreet Tharne OxfordshiTe OX9 3EZ Bankers Barclays Leicest8r LE87 2BB Solicitors Blake Morgan LLP W8sl Way Oxford
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED CONTENTS Page Truslees, rert ststement of truslee5' resrKJnsib1litS Independent 8udilo¢s reptyl 8-10 Statement ol finanoal activilies Balan sheet 12 Statem8nt of cash fiows 13 No18s lo the financial statements 14-27
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 trustees present their annual rew)rt and finanaal statements for the year ended 31 March 2025. The financial staletnents have bees) prepared in ydance the accounling policies set out in note 1 lo th8 financial staiernent5 and comply with the charity's goveming docufflent. th8 Cofflpanies Act 2006 8nd 'Accounting nd Reporting by Charities". Statement of Recomrnended Practice applirAble to tharities preparing their a¢¢ounts in accordance with the Finanoal Reporting Siandard applic2ble in the UK and Republic ol Iland IFRS 1021. leffecb.ve 1 January 20191. Objèclives and activitie$ Restore is an Oxfordshire-bas8d mental health charity which suptK>rt5 peWe lo take control of their recovery, develop skills and le8d meanirKJful lives. To this end. Reslore offers recovery groups. ernpk)yment coa¢hin9 and education 8nd training_ Restore is a member of The Oxfordshire Mental Health Partnership IOMHPI which 15 a partnership that formalfy brings together six local mental health organisations from Ihe NHS and the ¢harity $ector' ConnectiorTr Support. Elmore Community ServKes, Oxfofd Health NHS Foundation TrusL Oxfordshire Mind. Response and Restore. Restore has signed up to working much more dosely wth our partrrS and with peOe who have mentsl health problems to rnake it eaSr for people to gel the best Possible 5UPPOrt when they need IL Recovery Our services a based on the belief that people can 0)Ver from Ihe effect of mental illness on their lives. W8 aim lo support people in this recovery by addressing their indmdual needs. focusing on strengths and skills. enabling Ihem lo learn lo re¢over from and leam lo liv8 th mental heatth problems and providing opportunities to participate in rehabilitation. training and employment. Incluslon We believe that people with mental h8allh rlemS have Ihe nghl to work and the right to the SUPPOrt they need to become and remain empbye¢Y. Quallty We believe in recording our impacl. nM)nitoriThJ oui proviwn. developing our Ferlom7anc8, and improving our pr8cIic8. We review what we éo and encourage a focus on continuous servKe improvement. We are o)mmitted lo professional integnty. objectivty. fairness and ethul business practices. Co-operation and partnevship Our services ale part of a wider health economy in Oxfordshi. We a noi the sole soluiw)n ftsr the people who use our services, and we are committed lo worn9 with other organisations to aAlaborale, improve, develop. and expand our services for people th mental health problems in Oxfordshire. Equality, Diversity. Equity and Inclusion IEDEII For Restore, EDEI is about more than jus¢ meeting our statutory requirements. it is fundamentsl to delivering effective services lo those who need us most, understanding the needs of the communits we a here to 5UPPOrt. and building the collfidence of all w8 serve. Our fcKus moving forward is on engagetnent. dialogu8 and collaboration. to strengthen our ties wrth diverse comtnunities in Oxford. through work with cornmunily groups, vdunlary and statutory sector partners, ensuring our Seice and learniro offers a induswe. Public benefit The Iruslees have paid due regard lo guklan¢x issue(I by Ihe ChaFty Com¢nissiorb in iJ8ading what activities the charity should undertake.
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Recovery groups provide people wlh the Opprtunity io come togeth8r in a group and work on their joumey of recovery together. They use practical tasks Isuch as gardening. wrM)dwort. ¢alering. art and crafts) to make this possible. Recovery 9roups are supported by a tnix of paid 51aff, trained volunteers and group rr*mbers themselves. The Oxfordshire Recovery SeThrKe cornprises 8wht rerA)very groups in totsl. During the year. Restore provided recovery groups ITh Six locats'ons. and sub-contracls delivery at a further two. The Recovery groups aTe The Beehive Recovery Group, Brid8well Recovery Group (sub contractedl. Ee1 Stubbs Recovery Group, Garden Cafe Recovery Group, th8 Litdemore Recovery Group. The Orthard Recovery Group. Root 8nd Brarh RerA)very Group Isub contracted), and Fleet Meadow Recovery Group. Coaching 15 one to one SUPKX)rt aimed al enaNtng the pet50n 5UPPOrted to do 50tnething speufic. Just like our R8covery SeNice$. our coaching Ser works in dose collaboration with other Idinical and non-dini¢all seNic8S and support. as thi5 enable5 coache5 to foDJs on supporting the client in their retum to work_ Coaching ¢onsists of a meeting and an initial discussion with the dient an¢J is based on the GROW nTh)del. This is folbwed by ongoino one lo one support aime(l at the person getting open paid employinent or relumiry to woth. Oxfordshire Recovery College IORCI is an integral part of Restore. vrtlich Resto hosts tsn behaff of the wder OMHP. ORC takes an educational approach to recovery from menw heatlh chalknges. The College offers a wide range of courses and workshops on mental health theme5 such as Understanding Depression, IntructIon to Mindfulness. and Creative Wrrting. Our courses are free for all. seMcÈ users. cAreers. lamily and friends across Oxfordshire. as well as mental heatth professionals. and we all leam together as eouals. We olfer both online an 'in person" courses al venues across Oxfordshite. A key value of the Recovery College is COf>roduclion. Nl aspects of ORC. fM the subject and content ol COUTses, lo the marketing and publiuty. lo the delivery of sessions. is CprodUCed and £frdel8red by Experts of Experience (people with lived experience of mental 111nes51 and Experts by Training Iprofessionalsl collaborate lojether in an equal partnership in order to improve the support and servKes that thtsse of us affected by rnenial ill health need. Our students report that what they find r1$1 Useful atx)ut our courses is a sense of connectK)n with other siudents and tutors. an(J the realisation that others stnjggle with their mental heatth to) bul have found strateg$ to ctrpe. Mental Health Flrst doIong wSth Mental Health Restore offers bolh accrediled and bespoke (developed with 'in house. eKperbsel courses induding Mentsl Hearth Fiwt Aid Training, Suicide Prevention Training lo bolh indlwduals and groups. I courses a offered in person and otdin8. Al our trainers are qualif io deliver our MHFA and Suiode PventIon accredited courses. Achievements and perforniance Slgnificant activities and achievements agarnst obje¢tive$ Trustees. staff and volunteers worked hard dunng the year to build our aCtlty and seek new Sources of funding_ GNen the continuing uncertainty caused by the recovery from the Cov119 paThJemic, the income budget for 2024125 was again inlenlionally cautious. The year continued to See excellent results from Reste'S recovery groups. in terms of metnber5 tnowng on successfully into volunleenng. employtnenl or other rneaningful actiwty. and raiing the service highly. This is part of an ongoing healthy consolidation of towards esiablishing a more sbwcture¢ twtryear programme within groups. ericouraging personal goal settin9 and aspirational planning fr(Mn the tyJt5el.
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE-
EMPLOYMENT LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
FSnancSal revlew
Trustees and senior staff continued lo review the budget regularty Ihroughout Ihe year vi8 our Financ8 Sub-
Committee_ We were particularly ncerned about the impact of the cost ol liwThJ crisis on staff. and wanted to make
sure that our pay rates remaine(J compelitNe with other rA)mparable eM0YerS. Rel$0.$ Trustees approved the
organisation tcoming an Oxford Liwng Wage Employer. wilh thKs imKlernented lorall staff frorn 1 Apnl 2024.
Total income and endowments has inueased by less than 4.40A lo £2.073.51912024.. £1.986.2641. Expenditure has
increased by 9.2°A on the previous year at £2,258,915 Compared lo £2.068.752 the pVIouS year. The ¢Jefiut ftr the
year was £185,396 compar8d lo a defi¢ of £86.666 last year.
Grants r8C8ivable whh indudes income from Oxft)rd Heallh NHS Foundation Tnjst have de¢yeased from
£1,424,672 last year lo £1,448.362.
Our principal funder source during the year was Oxford Health NHS Foundation Trust. which acts as a conduit for
the statutory funding ol mental health servi5 in Oxfordshire. Th8 currenl contract wth Oxford Heallh commenced
ID September 2015 for a minimum 5-ye8r r. this was extended taking rt to end of M3rth 2025. with a further
two year extension lo March 2027. An u1ft for inllation was induded in the contracl exlension for each successiv8
financial y8ar_ We have also had support frotn a wariety
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Volunteers This year vdunteers hours were 8.004 18.674 20241 acros5 Restore. Volunleers coniribute to all aycts and activities of Restor8 and their Supp is invaluable and gr8atty appreated. Volunteenng numb8rs 8xdude the voluntary SUPPOrt of trustees to our work. Members are still being supported to becomè volunteers where the rnove is benefiual to both the indmdual and Resiore. The Annual Re¥W wll be publishe(l separately in November 2025. Investment$ From earfy 2023 Re5tore'5 deposits are invested in the charib.es Foundation dep051t plafforrn operated by Flagstone Group Ltd. This ensu$ thal all dep05it5 are in UK-based banks and building societies. and covered in full by the Financial SeNces Compensation Srne. Thi5 will ensure thal Restore can eam o)mpetits"ve rates of Inte$t wlh no Inve51rDenl risk. Prfjnelpal Risks and Uncertainties RESTORE continually accesses risk aThJ devekjps plans to address them. In the context of RESTORE there are four main areas of nsk". govemance and compliance lsu¢h as heallh arKI safety) financial (such as non-renewal of the OMHP contract after 20271 operational (such as the menta1 health of people using our SenfI$) external and environmental (such as weather damage ¢0 building51 Each identified risk is given a SCO for the consequences and the Iikelih(x)d of the risk which enables RESTORE to assess the over1 risk and appropriately prioritise action. These risks are regvlat1y reviewed by the Chief Executive and the Chair ofTruslee5 and reported to the Board. Plans for futvre pe0$ Strategic planning Is an ileralNe process lor RestOTe. Based Restores Theory of Change. Twstees and staff base planning on a clear Set of priortties for the organisalk)n_ The impa¢ls Restore sets out to achieve lo$ on improving the mental health and wellbeing of aclulls across Oxfordshire as well as challervJing stigrna and Influencing policy that affects mental heath. Restore's Stralegic PLan is reviewed annually 8nd obJectNes set, projecting forward 3 years al a time. Key pnoritie5 for the forthcorning financial year Irde.. Work with partners towards a long term ttJnlra¢t for the Oxfid$hi Mental Health Partnership IOMHPI Contsnue to rewew and fresh Resto.$ ro¥ery rn£NJel Develop more ¢ommuAity and place-based offers for underseThed rxYnmunil¢es. with a focus on prevention and reducing relapse Iwnprove recovery opportuni¢ies lor youn9Èr people and older adults Continue to develop tre Oxfordshire Recovery College wth new. c(wroduced (x)urse$ Support more people lo move into lor back inlol educabon. training 2nd meaningful IK¢upation Enhance staff development and wellbeing at Resto. to improve Teuuitrnenl. relentson and progression Ensure Equality. Diversty and Inclusion a consistenuy embedde(J in Restore's culture. services and ways of working Grow and deepen Restore's supporter communty by ttsing ¢ampawJns, our website and CRM more inlelligenlly to broaden our reach and build meaningful. 0-WaY engagernent Translate engagement Into 5UStainatAe income. Incxeasing grants. regUr givin9. campaigns and events so that supporter relationship5 clearfy contribute to Restore's Iw-lemi financial resilien
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure. governance and management Restore 1$ a charity and a company limited by guarantee and owne<l by lis Friends. Ils Mernorandurn and Articles of Ass(xialion slipulale how it is to be managed. The a no particular reslriclions imposed apart frorn the n88d io rArry out only the ¢hariVs stated a¢bwties and to propedy conduct its affairs as charity. The charity constitutes a public benefrt entsty a5 ¢Jefined by FRS 102. The Governing Body Is the Board of Trustees. The Board appoints Ihe Cht Exub"ve offir. who leads the Executive Team and staff. Th8 Board reviews the salary s¢Jes of stajf. Trustees seek to recruit new Tru51ees with a wde range of skills and backgrounds. Tnjsiees are elected by the Fnends al the Annual General Meeting. The Trustee induction pr(Kess includes tre provision and funding of appropriate training Iincluding rneetin9 skills. mental heallh awareness. and other subject5 as appropriatel. Al trustees are provided the opwrtunity lo e their ski115 and access training as needed. The Trustees meet at Jeast ftyjr tim8s 8 year to ov8rs88 the management of the chanty. They have lour permanent sub-cornmittees.. Finance. Quality & Perforrnance. Hurnan Resources and Extemal Relations. The Board and Committees meet quartetty as a minimutn its assist Ihe Exe(xJtive Group_ Task groups are established from lime to lime as required by specffjc work. Th8 trust8es. who are also the d1ctOrS for Ihe purp%)se of company law, a1 who seNed during the year and up to the d81e of signatu of the financrdl staternents were.. L Gray S Haigh S Mostyn E Peppiatt A Perry H Toomey J Turpin N Wamer D Wells Mr C Evans IAKwinled 27 June 2024 and te519ned 5 May 20251 (Resigned 30 Awl 20251 (Resigned 27 June 20241 IResigned 30 Apn'l 20251 IResigned 30Awl 20251 IAppointed 26 November 20241 Recruitment and appointment of trustees Unless otherwis8 Stat8d all trustees seNed throughout the year. The Board of Trustees can etsopt furtherTruste8s as it sees fit such persons have to seek reélectk)n at the first annual general meeting thereafter. Managemènt is carried out by the Chief Executiw ILibby Pèppialli and th8 Execub've Team, th8 Staff of ea department. During the financial year key management personnel were". Chief Exe¢utive Offi¢er- Libby Peppiatt Head of Finance & Administration- Sean Garden None of the Iruslees has any ben8ficial interest in the company. Al of the trustees a members of the company and guarantee lo coritribute £1 in the event of 8 wnding up. Auditor In accordan th the company's artides. a tesolution woposing that Richardsrms Chariered Accountants be reappointed as auditor of Ihe company %*ill be put al a General Meeting.
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 What We 8elleve We believe Ihal everyone has tslents an(1 a"11$. aThJ th8 Gqpacity to m8k8 a valuable rx)ntsibutson to the comrnunity. We believe Ihat people th rnental health problems have the n9ht to WO and the right lo receive support lo coMe an¢J m)in employed. We believe that the sbgma asswJted with mentsi health problems damages the whole comrnuntty and we WO io Challenge Ihis dis¢rirninats"on. R8stor8 8xpr8SS8S Its Misston. VIS and Values in this Vfdy. Mlsslon Provide recovery and aChIng support to people wth mental heallh problems whilsl working wrth the who community to reduce the $11gma associated rnental illness Vision Work towards a tiffle when peOe Mth men¢al heth proi4em5 are fulty ernpowered to live meaningful lives Values Recovery Enabling to recover from i11rsS and manage thr mental heath atKI wèllbeing Support Providing Ihe opportunities to help tyJrsefves and 8h other Hope OfferiTrg a positive lulure where everyone can fuffil their rx)lential Ernpowern7ent Helping people to believe in theMseeS and what they can ad)ieve R$specl Accepling wlhoul judging as each person 15 unique The tru tees. p)rt was approved by the Board ofTnJstees. S Haigh Trustee Dale". 25 2£)>
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE-
EMPLOYMENT LIMITED
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2025
The trustees. are also the directors of Rehabilitab"on SeNices Trust for Oxfordshire Re-employmenl Limited for
the purpose ol company law. are responsibk for preparing Ihe Trustees, Rert and the finan¢ial statements in
accordance with applicable law and United Kingdom AC>Unt1r Stsndards IUnite
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED Opinion We have audileij the finanoal 5tstemenls of Rehabilitat1 SeM¢es Trust for Oxtordshife Rtrernploytnent Lirniled Ilhe 'charity'l for the year ended 31 March 2025 whieh comprise Ihe ststernent of financial activities, the ba18nce sheet. th8 slat8rnent of cash fiows and notes to the finanoal statements. induding significant a(xounting polic$. The financial reporting framework that has been applie(J in Iheir preparation is applieable law and United Kin9dorn A¢¢ounling Slandaids. including Financial Reporbng Standard 102 Tre Financial Repoknng Standard applic8ble in the LIK anLI Republic of Irel8nd (United KiThJ¢kn Generally Aepted Accounting Practice). In our opinion. the financial stalemenls-. gwe a true and fair view of the stsie of the tharitable comp3n5 affairs as at 31 March 2025 and of its incoming resources and application of resources. for the year Ihen ended.. have been properfy prepared in accordance United Kingdom Gen8rally Accep18d ACCnting PractKe'. and h8v8 been prepared in accordance wrth the reqUiremt5 of CompaniesA¢l 2006. 8asls foi tsplnion We conducted our audit in accordance wth Intemational Siandards on Auditin9 IUKI IISAS IUKII and applScable law. Our responsibilities under those standards are further described in the Audilorfs SpOnbIles for the audif of Ihe financial stalemenls section of our report. We a Independenl of the thafity in accordance wrth the ethical requirernents th8t are relevant to our audr( of the financk41 statements in the UK. induding the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilieS in accordance with thèse requirements. We believe that the audil evidence we have obtained is sufficient and appfopriale to provide a basis for our opinion. Conclu$lon$ relatlng to going concern In auditing the financial statements. we have conduded that the tnjstees. use of the going CA)ncem basis of accounting in the prepaTation of the financial statets is appropriate. Based on the work we have perfomied. we have not identffied any material uncertainties re12bng lo events or condilions that, individually or collectively. rnay cast gnIfiCar)I (kjubl on the Charity's ability lo Continue as a going concern fcy a period of at lea51 twe8 months from when the financial staietnents are authorised for issue. OUT responsiai11ties and the spOnsIbl1.es of the trustees with respect to going cOnM a described ill the relevant sections of ihis report. Other information The other inforrnalion comprises the infomwts.on indTJJed in Ihe annual repNt other than the financial statements and our auditorfs pOrt Ihereon. The irusiees are responsible for the other informabon contsined within the annual report. Our opinion on the financial statements does not cover Ihe other inf0rrnatl and we ¢Jo not express any form of assurance conclusion Ihereon. Our responsibility is lo > the other inforrnation and. in doing so. consider whether the other infom)aknon is materially inconsistent wth the finanaal stalemenls or our knowledge obtained In the ¢ourse of the audit. or otherwise appears to be materially misslated. If we idenb.fy such material inconsistencies or apparent material misstatements. we are wuire(I to delefmine wthether this gives rise to a material rnisslalement in the financial slatemenls thernselves. If. based on the work we have performed. we conclude that there 15 a malenal misslaternent of this oth8r informabon. we a requi to rermyi that fact. We have nothing to port in Ihis ward.
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED Matter5 on which we are required to report by Èxceplion We have nothing lo r8POrt in respec¢ of Ihe followng matters in lation to which the Charpbes IAcLY)unts and Reports) Regulations 2008 requi$ us to report lo you if. in opinion". the informats.on given in the financial statements is incutsistÈnl in any matwial respect with the trustees. report", or suffi¢ievt accounting records have Il ben k8pL or the finan¢ial slaternents are not in agreement wrth the accounting r(d$.. c we have not received all the information and explanaDons we requir8 for our audiL Respon$iblllties of trustees As explained more fully in the statement of trustees. spOnsi1N.jlD.es. Ihe Irusle8s, who are also the directors of the charity for the purptsse of company law. a responsib for lh8 preparation of the finanpjal ststeTnent5 and for being satisfied that they gNe a true and fair VEW, and for such inlemal contrd a5 the tNslee5 deterrnin8 is necessary to 8nabl8 the preparabon of financial stalements that a [e frotn tnaterial misstatement. whether due to fraud or error. In preparing the finanaal stslements. the trustees are responsible for assessing the charity's ability to Continue as a going concern. discbsing. as applKable. matters related to gtyng COrM and using the going basis of accounting unless the trustees either inleFKJ to liquidate the charitable company or lo 0$e operations. or have no realistic altemative but to do so. Auditor'5 responsibilities fortht audrl of the financial statements We have been appointed as auditor under section 144 of the Charitses Act 2011 and report in accordanc8 Wlth the Act and relevant regulations made or having effect therewer. OUT o'eclives are lo obtain asonable assurdnce atrKJut whelher the financial staternenls as a whole are free from malerial misslalemenl, whether due to fraud or error. and to issue an audilorfs r8FK)rt that indudes our opinion. Reasonab assuran 15 a high level of assuonce but Is not a guarantee that an audit conducted in accordan wth ISAS IUKI will aayS delecl a material missiatemenl when il exists. Misstatements can arise from fraud or error and are eonsmjered material rf. individually or in the aggregate. they could reanablY be expeded lo influence the economic decisions ol users taken on the basis ol these finanoal siatemenis. The exlenl to which ovr prlxedures are capable of dete¢bro Irregulari"e$. IudIng fraud, 15 d8tailed below. A further des¢riptv)n of our responsibilits.es is available on the FÈnanrAal Reporbng Counol's web51te at". httpsjl www.fr¢.ory.uklauditorsresponsibililies. This description forn part ol our audiiorfs repc¥t. Us& of our report This report Is made selY to the charity s trustees. as a tK)dy. in a[Xx)rdan with Part 4 of Ihe Charities (Accounts and Reports) Regul8tion$ 2008. Our audit w(xk has been undertaken $0 that we tnighl state to the charity's trustees those matters we are qUired to slate to them in an auditor-s pOrt and for no other purpose. To the fullest extent permilled by law. we do not accept or assume SPOnsIbl1rtY to anyone other than the charity and the charity's tru51ees as a body, for our audit work, for Ihis reFOrt, or for the opinKX)s we have forrTI.
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED Jemima King Isgn Statutory Auditor) For and on behalf of Richardsons Charter8d Accwntsnts. StatutoryAvditor Richardsons Chartered Accountants 30 Upper High Street Thame Oxford5hire OX9 3EZ Date.. 25111129.25... Richardsons Chartere(l A¢countsnts is eligible for aprx)intmeAI as auditor of the charity by virtue of its eIlbIlIty for appointment as auditor of a company under secb.on 1212 of lh8 companSA 2(X)6. 10
¢n Tr- 17> 0 7J W7J - O) UJ ¢yJ o J c <W (O (O ij UJ ¢TJ VJ LU tt o
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notgs Fixed assèis Tangible assets 14 47.727 21.956 Current assets Stocks Debtor5 Cash al bank and in hand 15 16 14.065 110.023 1,067,164 9,489 68.100 1.327.789 1.197.252 1.405,378 Creditors.. amounts falllng due wilhin one year 17 1144.8231 1147,7821 Net current assets 1.046.429 1.257.596 Total a$$et5 less current liabilities 1.094,156 1,279.552 ProvisK)n for other liabilities 18 177.7431 177.7431 Net assets 1.016,413 1,201.809 The funds of the ¢harity Restricted income funds Unrestricted funds- g8neral Unrestricted funds- dèsignat8d 19 21 20 15.000 316.413 15.000 501.809 685.000 1.016.413 1.201.809 The company is entiued lo the exemption from Ihe audil requiretrent contsined in Secti 477 of th8 Compani8s Act 2006. for the year ended 31 March 2025. The directors acknovAedge their ieswnsibilities for comrAying wrth the wuiren*nts of (he Cotnpanie5 Ad 20( th respect to accounting records and the preparation of finanoal staternents. The tnembers have not required the company lo obtain an audil of ils financial slatements under the requireTTTrents of the Compan$ Act 21J06. for thè y8ar in question in acwdance wth section 476. These financial statements have been ppared in wth Ihe provis$ ap1(able lo companies subject to the small companies 1re. rinanual statements were approve(I by Ihe trustees on . Trustee Company registration number 01324318 (England and Wales} 12-
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 NtstÈs Cash flow5 frorn operating a¢ti¥tlie$ Cash absorbed by operatK)ns 25 1304.1291 Iri.7511 Investing activities Purchase of tangible fix8d assets Proceeds from disposal of investrn8nts Investment income received 140,0451 65.367 48,279 83.549 N¢t Cash gonerated from tnvestin9 athivities 43.504 113.646 Net cash u$•d in financing activities Net Idecreasellln¢rea$e In cash and cash equivalent$ 1260.6251 35.895 Cash and cash equrvalents al beginning ol year 1.327.789 1,291.894 Cash and ¢a$h equivalents at end of year 1,067,164 1.327.789 13-
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policles Charity infonnalion Rehabilitation Semces Trust for Oxfordshire R&emF*ment Limiled is a priwdle company limiied by guarantee incorwratèd in England and Waks. The wistered office is CovAey Road. Manzil Way. Oxford, Oxfordshire. OX4 1YH. UK. 1.1 Accounting conventlon The financial statements have been Pared in accordance with charivs goveming di)oJment, the Cornpanies Act 2006. FRS 102 The Finanoal Reporb"ng Standard applicable in the UK and Republic of IreLqnd" I'FRS 102-1 and the Charities SORP -A¢¢ounts"ng and Reporbng by Charpties.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Finanaal Reporting Standard appiic2ble in the UK and RepulAic of Ireland IFRS 1021" lefFe¢tsve 1 January 20191. Th8 ¢harty is a Public Benefit Entty a5 defined by FRS 102. The financtal stalernents are ppa in steding. which is Ihe fU110n81 utrrency of Ihe charity. Mon81ary amounts in these finaal slatemenis a rOU18d io Ihe nea¢ £. The finanual slaternenls have been prepared uThJer Ihe hl0Cal cost convenbon. The principal accounting policies adopted ar8 set out behx. 1.2 Going concern Al the lime of approwng the finanual statetnellts. th8 twstees have a #Sonable expectalton that the charity has adequate sourceS to continue in operational existen for the foreseeable fijture. Thus the trustees continue to adopt the going concem basis of acwunbng in prepanng financial statements. 1.3 Charitable lunds Unrestricted funds are available lor use at Ihe diweiion of th8 trust88s in furtheran ol their charitable objectives. Restricted funds are subject io specthc ¢ondtbons by dorrtys or grantors as to how they may be used. The purposes and uses of Ihe testricled hJtKJs are set out in the notes Io ihe financial $ternÈn. Endowment fund$ a subj'ect to specific o)nditions by tknwrs that the capital rnust tx rnaintained by the charty. 1.4 Income Income is recognised when the charity is leg811y enlilled to it after any perf0rniaTh (x)ndibons have been met. the amounts can be measured reliably. and it is [bab that ifjcome will be r8C8ived. AII WK)nelary ¢Jonats"ons and grfts are induded in the 5talem8nl ol financial activities when receivable. provided there are no donor4mposed reslriclions as to the tim1 of the related eXpendrtu. in which G4se rQgnon is deferred until the pr&condition has been mel. Legacies a rewgni5ed on recwpl or othemse if charity ha5 been nob'fied of an irnpending distribution, the amount is known. and receipt is expecied. If the amount is not known. the legacy is treated as contingent asset. Grant5 for the purchase of fixed assets are credited to $InCted incotning resources when weivable. Depreciation cif Ihe fixed assets purchased wth sud) gonts is charged against the restiicted fund. Revenue grants are credited lo incorning resources when Ihey are e1¥able provided condrtions for tpt have been complied with, unless they late lo a specffjed future period. in which case they are deferred. 14.
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountln9 policies {Continuedl 1.5 Exwndrtu Expenditure is rewnised orKe there is a or constructive obligatpon to transfer economic benefit to a thir¢ party, il is probab that a transfer of ecOn1r beneffts will be required in settlement. antj the atnouni of the obligation can be measured relobiy. Expenditure ts classified by activity. The ctssls of Èach activity are 11le up of the total of ¢Yire¢l $t$ and shared costs. Including support costs involved in undertaking each acliwty. Direct (StS attnbutslje to a single activity are allocated diredy to that activity. Shared costs whith ¢ontribule lo more than one activity and support costs which a not attributable to a single 8CtNity are apporboned between those activit$ on 8 basis consistent wth the use of resources. Central slaff $ts are alloL3ted on lh8 bas¢s of bme spent. and depreci8tion charges are allocat8iJ on Ihe pth.on of asset's use. 1.6 Tanglble fixed assets Tangibl& fixed assets are initialty m8asur8d at o)st and subsequenuy measured at ¢x)st or valuation. net ol depciabOn aTKJ any imp8impnt losses. Dep ciation 15 recognised so 8S to ¥¥rite off Ihe Cost or valuation of assets less Iheir resKlual value5 over their uselul live5 on Ih8 fdhwing bases". Leasehold land and buildings Plant and equipment Motor vehide5 over th8 tem) of the lease 25% slraight line 25% re(Jucing balanc8 The gain or loss ari51ng on the diswjsal of an asset is delermin8d as the difference befvveen the sak procè8ds and the carrwng value of the asset. and is iecognised in the statement of financial actiwties. 1.7 Impairm8nt of fixed assets At each reporting 8nd date. the tharily reviews the cang arYK)unts of its tangible assets to detemiine whether there is any indi¢abon that those assets have sullered an impairtnenl loss. If any such indication exists, the re¢overable amount ol Ihe asset is 8sbmated in order lo deteFwnine the extent of the impairment loss lif anyl. 1.8 Stocks Stocks are ststed at the lower of Cost and estimated sdling price le5S C051s io comete and sell. Cost comprises direct materials and. ¥the apleae. dir8Ct labour costs and those overheads that have be8n incurred in bringing the stocks to their present l(Thtion and ¢on¢ition. Items hdd for distribution 8t no or nominal considerab.on are measured the lower of replment cosi and cost. Nel realisable value is the estimated selliTrJ price less all eslimaièd costs ol cornpletion an¢Y costs to be incurred in markeiing. 5811ing and dtsbibubon. 1.9 Cash and cash equivalent5 Cash and cash equivalents indude cash in hand. deposits heK1 at call with banks. other short-lem) liquid inveslments with onginal rnaturilies of three months or les5. and bank overdrafts. Bank overdrafts a shown within borrowings in current liabihlies.
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE-
EMPLOYMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
Icontlnuedl
1.10 Financial instruments
The eharily has dected lo appty the prowsions of Sec1)n 11 'Basic Finanraal Instruments. and Section 12
'Olher Financial Instruments IssuÈ5' of FRS 102 to all of rts financial InstrUnnts.
Financial Inslrumenls are recognised in the charitls balae strleet en the tharity becomes party to the
(x)ntra¢tual provisions of the inslrutnent.
Financial assets an¢J liabilities are offset. wilh the net amounts presented in the financial StatenIS. when
there is 8 legally &nforceable right lo set off Ihe recognised am
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Critical accountln9 esmateS and judgewr*nts In the application of the charity's accounting policies. the truslees are required to make judgements. esbmates and assumptions about the carrying arnount of assets and liabililE5 thal are not readily apparent from other source5. The estirnales and associated assurnptions are based on historical experien and other fadors that are considered lo be relevant. Actual results may differ from these esbmales. The estimate5 and und8rfying assumptions are Teviewed on an ongoing basis. Revtsions to accounting estimates are recognised in the period In which the estimate is rewsed where the vIsion affecls only Ihat period, or in the peri¢)d of VlOn and fulur8 n(Al$ the rewsth affect5 LK)ih current and futLtr8 periods. Income from donations and lega¢le$ Unrestricted Restrictèd funds funds 2025 2025 Total Unre5tricled Restricted ftrnds funds 2024 2024 Total 2025 2024 Donations and gifts 180.889 39,592 220.481 152.927 28.000 180.927 Charitable a¢tiviti¥s 202S 2024 Sale of goods Performance related 9rant$ 321.127 332,386 1.448.362 1.424,672 1.769.489 1.757.058 Performance related grants Oxford Health Partnetship Contract Oxford Health Forensic Contra Abingdon & Witney College- MHFA PtOVi5iorMunleering 1.363,836 1,355,524 54,632 54.398 29,894 14.750 1.448.362 1.424.672 These grants receivable are for in(x)rne arising from contracts for seMce.
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Incom• from investment5 Unrestricted Unrestricted funds 2025 2024 Rental In¢orne Other in¢orr 41.229 42.320 41.670 6.609 83.549 48.279 Expandrture on ral$lng funds Unre$tri¢ted Unrestri¢ted funds funds 2025 2024 Fundraisirbg and publicity Other fundraising ¢osls Staff cosis 17.958 76.245 6.673 88.657 94,203 95,330 Tradin9 costs Other trading a¢tivib"es 147.680 185.945 Total costs 241,883 281,275 18
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditur8 on charitable actSvitles Coaching Recovery Volunteer & Recovery traininy CollegÈ 2025 Total 2025 2025 2025 2025 Dlre¢t Gosts Si8ff ¢osts Deprecialion 8nd impa¢rmenl Property Costs Diwl ¢osls Outsourced Other cosis 125.661 1.612 47.690 32.574 757.882 8.925 74.346 44.870 160.455 136.757 84.865 206.245 2.647 10.616 19.739 1.174.653 14.274 137.024 108.487 160.455 211.362 4.372 11.304 22.ogj 14,876 37,639 229.627 1.183.235 116.7 276.886 1,806.255 Share of support and 9oveman¢* ¢ost$ {5oe nots 81 Support 22.525 Govemance 11.350 124.700 15.Z27 36,975 199,427 11,350 263,502 1,307,935 131.734 313.861 2,017.032 Arbalysis by fund Unrestricted funds- general Restncted funds 223.910 1.307.935 39.592 131.734 313,861 1,977,440 39,592 263,502 1.307,935 131.734 313.861 2.017.032 19-
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitable a¢¢ivi¢i95 IC¢)ntinued) Previous year= Coaching Recovery Volunteer & training Recovery College 2024 Total 2024 2024 2024 2024 Direct costs Staff costs Depreciation and impairrnent Property ¢tss15 Direct costs Out50urced Other c05t5 125.603 225 9.971 25.234 687.962 7.585 86.217 52.336 159.718 89.511 60.769 670 4.292 1.463 183.409 1,057.743 2.014 10.494 12.898 113,384 12.482 91.515 159.718 121.772 7.718 23.543 162.039 1.083.329 74,912 234,346 1,554.626 Share of support and goveman¢e costs Isee note 81 Support 38.597 )vernance 10.982 25.095 145.333 12,844 221,869 10,982 211,6t8 1.108.424 220.245 247.190 1,787,477 Analysis by fund unstrICted funds- gen8r81 Restricted funds 183.354 1.108.424 28.264 220.245 247.190 1.759,213 28.264 211,618 1,108.424 220.245 247.190 1.787.477 Support costs allocated to activities 2025 2024 Staff costs Expenses Recurrtment Govemance costs 176,515 16.346 6.566 11.350 176.165 39,161 6.543 10.982 210,777 232.851 Anatysed between.. Coaching Recovery Volunteer & training Recovery College 33.875 124.700 15.227 36,975 49.579 25.095 145.333 12.844 210.777 232,851
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Net movement fvnds 2025 2024 The net movernent in funds is staled after drgIn{eItIrvI= Fees Payab for the audit of the tharity's financol stslemen Depreciation of owned tsngible fixed assets 11.200 14.274 10.800 10.494 10 Trustees None of the trustees lor any persons Con[cted wth receNed any remunerabon or benefits from the charity during the year. 11 Employees The average monthly number of emoYeeS duftng the year vtss.. 2025 Number 2024 Number 66 Employment Costs 2025 2024 Wages ar salaries 1.427.413 1.322.565 There were no employee5 whose annual remuneration was more than £60.000. 12 Gains and 105ses on investments Unrestricted Unrnstri¢t•d funds fund$ 2025 2024 Gainslllossesl arising on- Revaluation of investments 14.1781 13 Taxatlon The charily is exempt from taxation on its athib.es b*xus8 all its incx)me is applie(S for charitsble purposes. 21
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 14 Tangible fixed as$¢ts Lgasehold PlaDt and land and builthngs Motor vghides Total Cost At 1 April 2024 Additions 462.208 65.876 40.045 40,486 568.570 40,045 Al 31 Marth 2025 462.208 105.921 40.486 608.615 Depreciation and impaim)ent Al 1 April 2024 Depreciation Charged in Ihè y8ar 450.049 4.428 60.983 8.227 35.582 1.619 546.614 14.274 At 31 March 2025 454.4TT 69.210 37.201 560.888 Carrying amount Al 31 March 2025 7.731 36.711 3.285 47.727 At 31 March 2024 T2.159 4.893 21.956 All tangible fixed assets were held for charitable purposes. 15 Stocks 2025 2024 Finish goods and g)ods for resale 14,065 9.489 16 Debtors 2025 2024 Amounts falling due wlthln one year.. Trade debtors Other debtors Prepayments and accrued income 83,237 6.516 20,270 46.214 6.516 15.370 110,023 68.100
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Croditors.. amounts falllng due wFthln on• year 2025 2024 Other taxation and social securily Trade CltorS Other creditors Accruals and deferred in¢ome 23.424 56,339 6,011 59.049 21.186 89.853 26,743 10,000 144.823 147,782 18 Provl$lon$ lor liabilities 2025 2024 77.743 77.743 Movements on provlslc*n$: VAT provisi 77.743 A promsion has been made for VAT li8bilrties antipated as of 31 March 2025, reflecting estim8ted amounts due lo HMRC for VAT on supplies and transauions thai occurr8d duriry the previous financial years bul have not yet been sellled. This provision has been calculated based on expected liabilitiès. pending confirmation or assessment. Adju5trnent5 will b8 mad8 in subsequent penThJs rf necessary. based on Ihe actual amounts payable. -23-
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Restrlctel lund5 The 91Cted funds ol the charity comprise the unexpended balances of donabons and grdnls held on trust subject to specifi¢ Conditn$ by donor5 as to how they may be use(l. At 1 April 2024 Incomin9 resour¢e$ RÈsource$ At 31 March expended 2025 Bat¢hworth Trust Clover Trust Ormonde Charitable Tfu5t Batchworth Trust Haddenhatn Healthcare Oxfordshire Commun Recovery J A PYE Settlernent Oth8r Donations Chewefi Gen Ay 15.0(K> 15.000 3.300 600 15.000 1.00 9.000 6.000 3.692 1.000 13,3001 16001 115,0001 11,01)01 19,0001 16,0001 13,6921 11,0001 15.C 39.592 139.5921 15,000 Previous year= Al 1 Aprfl 2023 Incoming resources Resources At 31 Mar¢h expended 2024 Other Capital grant5 CloverTrust South Oxon AMHT Northwick Grant Oxon Comm Foundation Balchworth Trust BCA Hodley Grant 4.462 5.802 14,4621 15,8021 Is.0001 18,0001 14,0001 4.(K)O 15.000 15.000 11,0001 15.264 28.C4)0 128,2641 15.(K)O -24-
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 20 Unrostricted funds- deslgnated These are unrestricted funds bthich are material to Ihe chwivs activities. At 1 April At 31 March 2024 2025 685,000 685.000 Previous year= At 1 April At 31 Mar¢h 2023 2024 685.000 685.LYJO 21 Unrestricted funds The unreslrieted funds ol the charity comprise the unexp8nded balances of donations and gr8nls which are not subject lo specrfic condibons by doncys and grantors as lo how they may be used. These indude designated funds whi¢h have been set aside oul of nStriCted lunds by the trustees for specifie purposes. At 1 Awil 2024 Incomln9 Yesources Re50urc8S expended Galns and At 31 March losses 2025 General fvnds 501.809 2.033.927 12.219.323) 316.413 Previous year- At 1 April 2023 Incoming Tesources Resources expended Gains and At 31 March 105ses 2024 G8neral funds 588.211 1.958.264 12.040.488) 14,1781 501.809 The SOU Oxfordshire building fund is 10 5UPPOrt Ihe develownent of 8 permanent building to Serve the people of South Oxfordshire. The servi Dev8k)pment fund provides monies which Can be used lo attempt lo expantj the ways in which we meet the needs of our service users and the geographical coverage of our semces. The Property Fund is created lo cover future excepbonal revenue and capital property expendilure. -25-
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 22 Analysis of net assets betweèn lund5 Unrestricted Unrestri¢te fvnds funds general destgnated 2025 2025 Re$tri¢ted fund$ Total 2025 2025 Al 31 March 2025- Tangible assets Current asselsllllabili'e$I Provisions 43.265 350.891 ITT.7431 4.462 10.538 47.727 1.046.429 177.7431 685.(KNJ 316.413 15,000 1,016.413 Unrestricted un$trIcted funds funds general designated 2024 2024 Restricted funds Total 2024 2024 At 31 March 2024: Tangible assets Current assetsllliabiliti8sI Provisions 17.494 562.058 ITT.7431 4,462 10.538 21.956 1.257.596 177.7431 501.809 15.OLIO 1,201.809 23 Operating lease commitments The charity has entered into a lease in respect of its Manzil Way pr8mis8s at a current annual rental of £44,000 which expires in 2029_ The charity leases 3 pnnters, 2 d(Kument feeders. 4 cassettes and 1 cabmet. which expire in November 2029. The charity has entered into a ase in respect of its 8anbury premises for a te of 5 years at a current annual rental of £15.000. expiring in June 2026. Al the reporting end date the charty had outstandsryJ commitments for futu minimum lease payments under non-canc8llable operab.ng leases. which lall du8 as fotbws." 2025 2024 Within one year Between two and fNe years 64,340 154,470 60.143 191.0(K) 218.810 251.143
REHABILITATION SERVICES TRUST FOR OXFORDSHIRE RE- EMPLOYMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 24 R•lat•d party transactions There were no dtsdosable rdated party Iransactions during Ihe year12024 - non81. 25 Cash ab$ortkd by operations 2025 2024 Deficit for the year 1185.3961 186.6661 Adjustsnents for= Inveslmeni incotne recognised in statemenl of financial actmtses Fair value gains and knsse5 on investments D8pr8ciation and impaimient of tangible fixed assets 183,5491 148,2791 4.178 10.494 14,274 Movements in working capltal: Ilncreaseydecrease in stocks Ilncreasel in debtors IDecreas81 in creditors IDecreasel in prowsions 14.5761 141.9231 12,9591 9,898 122.9531 122.1661 77.743 Cash absorbefl by operations 1304.1291 177.7511 26 Analysis of changes in net fund5 The charity had no material debt during the year. -27_