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2025-08-31-accounts

REGISTERED COMPANY NUMBER : 01162279 REGISTERED CHARITY NUMBER : 275637

INTER CARE LIMITED (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES

AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

INTER CARE LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

Page
Reference and Administrative Details 1
Report of the Trustees 2-8
Independent Auditor’s Report 9-10
Statement of Financial Activities 11
Balance Sheet 12
Cashflow Statement 13
Notes to the Financial Statements 14-21
Not Part of the Statutory Financial Statements
Detailed Statement of Financial Activities 22

INTER CARE LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2025

TRUSTEES AT YEAR END AND THROUGHOUT THE YEAR:

Dr R Babla BSc (Hons), MBBS (Lon), MRCGP (2016) Mr I R Bailey MSc, C, Eng.

Mrs K J Garnett LLB Law, LPC Law (Vice Chair) Mr S Mabley BSc (Hons), C Eng, FCIPD (Chair) Mr R Peck BEng (Hons) Mech Eng Mrs J P Widdowson BPharm, PhD, MRPharmS Mr M W Jones B Soc Sci, ACA Dr Henry C. Ohakah PhD, DMin, OSL (from 23/7/25)

CHIEF EXECUTIVE : Mrs D Hardy DChA, BSc (Hons), MSc

REGISTERED OFFICE: 46 The Halfcroft Syston Leicestershire LE7 1LD

COMPANY NUMBER: 01162279 (England and Wales) CHARITY NUMBER: 275637 AUDITOR: Evolve Accountants and Business Advisors Ltd Unit 10 Phoenix Park Telford Way Coalville Leicestershire LE67 3HB

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INTER CARE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

The Trustees present their annual report together with the audited financial statements for the year ended 31 August 2025.

Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Director’s Report) Regulations 2013 is not required.

Structure Governance and Management

Constitution

The charity is a Public Benefit Entity and registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 7 March 1974. Subsequently, new Articles of Association were adopted on 7 September 2018. In the event of the company being wound up members are required to contribute an amount not exceeding £10.

The Trustees, who are also directors for the purpose of company law, and who served during the year were:

Dr R Babla BSc (Hons), MBBS (Lon), MRCGP (2016) Mr I R Bailey MSc, C, Eng. Mrs K J Garnett LLB Law, LPC Law (Vice Chair) Mr S P Mabley BSc (Hons), C Eng, FCIPD (Chair) Mr R Peck BEng (Hons) Mech Eng Mrs J P Widdowson BPharm, PhD, MRPharmS Mr M W Jones B Soc Sci, ACA Dr Henry C. Ohakah PhD, DMin, OSL (from 23/7/25)

Mr R Peck and, Mr M Jones are due to retire by rotation at the AGM in March 2026 and will offer themselves for re-election.

None of the trustees has any beneficial interest in the company and there were no related party transactions during the year.

Method of appointment or election of Trustees

The Board has the power to appoint additional trustees as it considers fit.

New trustees are sometimes already familiar with the practical workings of the charity, as it is normal practice to involve them in the work of the charity as volunteers before appointing them. However, some trustees are specifically sought for their skills or knowledge in certain areas.

Policies adopted for the induction and training of Trustees

During induction trustees are made aware of their duties and responsibilities as trustees. Information from the Charity Commission is provided, and additional training or induction is given as necessary depending on the individual roles to be performed.

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INTER CARE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

Organisational structure and decision making

The trustees chaired by Simon Mabley meet at regular intervals during the year to receive reports, monitor the company’s activities and take major decisions affecting its future development. The day-to-day work of the organisation is led by Diane Hardy, Chief Executive Officer, and delivered through a small staff team and around forty volunteers who give their time on a regular basis. The charity is an independent charity and is not part of any affiliation or umbrella group.

Risk Management

The Trustees have addressed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to major risks. The risk management strategy is reviewed annually. The trustees have taken steps to see that trustees and staff have the necessary knowledge, expertise and responsibilities to help mitigate risk.

In relation to principle specific risks:

Strategy, Objectives and Activities

The charity’s mission is to save lives and alleviate suffering through the provision of surplus medical resources to rural partner health units in sub-Saharan Africa. The aims are to collect surplus health care goods and medicines (donated and purchased), for the two-fold purpose of medical waste reduction and to send regular consignments of vital medical aid to rural health units across sub-Saharan Africa.

Strategy & Objectives

The charity reviews its strategic priorities on a three-year cycle, and in 2023 agreed five strategic priorities for the 2023 – 2026 period.

  1. To grow our impact by 10%.

  2. To ensure surplus medicines and healthcare goods (HCGs) are always greater in value than those that are purchased.

  3. To diversify within our expertise and through signposting.

  4. To introduce a new approach to Monitoring and Evaluation, supported by in country partners.

  5. To introduce an Inter Care rating, to determine which Healthcare Units (HCUs) we support.

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INTER CARE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

In addition, in the financial year 2024/25 the Board did an interim strategy review which had two key outputs:

  1. Our priority of increasing our impact was refined to a specific target of:

  2. a. Delivering HCGs, by container, to every HCU in Malawi and Sierra Leone, every year.

  3. b. In addition sending medicines once a year, and in addition some ad hoc One Wish donations.

  4. A new priority emerged, in the light of the above, and of the expiry of our lease in 2027, of determining the optimum facilities to support our strategic objectives

In 2024/25 we made progress against these objectives – in particular:

Activities for achieving objectives

The charity achieves its objectives by processing donated medicines and healthcare goods from pharmaceutical wholesalers, pharmaceutical manufacturers, medical supplies companies and GP surgeries and the NHS. Some medical resources are bought to supplement the needs of the medical units where it is felt appropriate. Medicines are being purchased in Malawi and Tanzania from Action Medeor, a German non-profit wholesaler and these medicines are transported within country to our partner health clinics in those countries.

The majority of all HCGs received are donated directly from companies offering their surplus products or through GP surgeries and the NHS nationwide.

The financial donations and grants received, and the other fundraising efforts by the staff and volunteers provide the necessary funds to cover the purchase of medicines and the costs of running the operation, including warehouse and shipping costs.

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INTER CARE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

The charity pays for the transport of healthcare goods from the NHS and then sorts, stores and packages them along with donated and purchased medicines for dispatch to Africa. The charity liaises regularly with the HCUs in Africa to ascertain their needs and aims to send regular consignments and also visit them on a rolling basis to assist with communication and understanding.

Inter Care produces dispensing protocol information sheets, which are sent out with donated medical supplies. These aim to educate medical staff in Africa on up-to-date usage of prescribed medicines and also to draw attention to any particular problems which may occur.

Dependence of Inter Care on donations in kind and volunteer help:

The time given by volunteers locally in the East Midlands and throughout the UK who organise the collection of medical supplies is vital to Inter Care’s successful operations and is very much appreciated by the trustees. Special thanks go to the many Rotary Clubs and church congregations across the country that regularly support the charity. Around 40 volunteers, including the eight trustees provide unpaid support to the charity, for example by raising funds or assisting with screening and sorting medical supplies at our premises in Syston, near Leicester.

The trustees are aware of the Charity Commission’s general guidance on public benefit and have considered it when reviewing their aims and objectives and planning future activities. In line with charity accounts disclosure requirements, the trustees confirm that they have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievement and Performance

Medical supplies dispatched:

In line with our strategy, we continue to develop how we measure the impact of our operations. For medicines we have adopted a measure of “Patient Treatment Units” (PTUs) and in 2024/25 we saw a 62% increase against this measure.

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INTER CARE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

For HCGs we measure against broad categories. Using these measures we have dispatched:

Against other measures, the charity dispatched 12,061kg of medical aid with a value of £971,939 (£607,566 in 2023/24). Two shipping containers were sent to Malawi, and in addition we have sent medicines from the UK to Malawi and Sierra Leone by temperaturecontrolled airfreight, which is in accordance with the requirements of our Wholesale Dealers Licence of sending medicines to Africa. We have also supplied medicines and medical supplies through purchasing “in country” to multiple health facilities across Malawi and Tanzania.

Environmental Benefits:

The charity’s main sources of medicines are surplus (new) medicines donated by pharmaceutical manufacturers and partner charities, some UK purchases, and in-country purchases of medicines from accredited local organisations. The re-use of surplus medicines prevents waste, conserves the energy and raw materials used in manufacture and avoids the use of energy that would otherwise be used in incineration. Purchasing medicines within the African countries we supply avoids the energy usage and carbon emissions associated with air freight from the UK. We will continue to maximise the use of donated medicines, use incountry purchases where appropriate and minimise UK purchases where possible.

Almost all of the charity’s HCGs are obtained as surpluses from a variety of sources which again, conserves the energy and raw materials used in manufacture and avoids incineration and landfill. We will continue our efforts to increase the amounts of HCGs we obtain from UK manufacturers, the NHS, the public and other donors to maximise the environmental benefits.

We send consignments by container ship, both to manage costs and allow us to send larger items of equipment. Air freight is still used for medicines dispatched from the UK warehouse to ensure prompt delivery and compliance with Good Distribution Practice (GDP) as defined by the terms of our MHRA licence. Sending goods by sea instead of by air reduces the carbon impact by a significant factor so we will continue to increase the use of shipping containers whenever possible.

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INTER CARE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

Income generation:

Inter Care is a member of the Fundraising Regulator and adheres to the Code of Fundraising Practice. We have had no complaints about our fundraising methods this financial year.

Despite changes in personnel in the fundraising team, income held up well, and in addition we had exceptional one-off legacy income of £383,074. Through the generosity of our donors, and this legacy income, Inter Care had its highest cash income on record of £634,052 (£296,169 2023/24)

One Wish Project:

The One Wish project is designed to make a difference to every health unit which we currently support by granting “one wish” of a piece of equipment or other resource that would make a real difference to their work. In the last year 2024/25, we granted a total of 6 wishes in Tanzania and Malawi. The wishes included equipment such as Glycohemoglobin Analyser, dental unit, patient monitor etc. We intend to offer the One Wish project to each health unit partner and there are 18 wishes left in Tanzania and 1 in Malawi to complete. These which will be delivered in our next financial year.

Financial Review

As stated above, cash income generation for the year was very positive. In addition overall cash expenditure was well managed (and broadly matched our non legacy income) at £256,889. As a result the statement of financial activities for the year shows a surplus of £377,163 versus £60,262 in 20223/2024.

As of 31st August 2025, the total unrestricted reserves were £521,814 (£133,103 in 2023/24). This increase in reserves reflects the exceptional legacies that we received in the year.

Reserves Policy

Thanks to a number of very generous legacies Inter Care is currently blessed with a level of reserves we have not previously enjoyed. These reserves give us options, particularly regarding our warehouse and offices for which the current lease expires in summer 2027. We are currently working with our landlord to understand whether we can stay at The Half Croft or will need to relocate. If we need to move we are in a position to consider whether buying a small unit, rather than renting, is in the best interests of Inter Care. Until this issue is resolved the Trustees will defer updating our reserves policy and will continue to designate a minimum reserve of £70,000, reflecting approximately four months’ operational costs.

Investment Policy

Funds are held in a current account and in investment accounts where appropriate, with a maximum level in each financial institution to that covered by the Financial Services Compensation Scheme.

Going concern

With the charity operating well above its minimum reserves level, the trustees have a reasonable expectation that the charity has adequate resources to continue in the foreseeable future.

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INTER CARE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

RESPONSIBILITIES OF THE TRUSTEES

The trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including income and expenditure for the financial year. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees have given due consideration to the Charity Commission’s published guidance on the Public Benefit requirement under the Charities Act 2011.

In so far as the trustees are aware, there is no relevant audit information of which the charitable company's auditors are unaware and the trustees have taken all the steps which they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

This report has been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

Approved by order of the Board of Trustees on 29 December 2025 and signed on its behalf by:

Mr S Mabley BSc (Hons), C Eng, FCIPD – Chair of Trustees

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF INTER CARE LIMITED

YEAR ENDED 31 AUGUST 2025

Opinion

We have audited the financial statements of Inter Care Limited (the 'company') for the year ended 31 August 2025 which comprise the statement of financial activities, balance sheet, statement of cashflows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the company's members, as a body, in accordance with Section 154 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF INTER CARE LIMITED (Continued)

YEAR ENDED 31 AUGUST 2025

Opinions on other matters prescribed by the Charities Act 2011

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Evolve Accountants and Business Advisors Limited Accountant & Statutory Auditor Unit 10 Phoenix Park Telford Way, Coalville

Leicestershire, LE67 3HB 29 December 2025

INTER CARE LIMITED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025

Note
INCOMING RESOURCES
Donations and legacies
2
Other trading activities
3
Investment Income – Interest Received
Total Incoming Resources
RESOURCES EXPENDED
Costs of Raising Funds
4
Charitable Activities
5
Governance Costs
6
Total Resources Expended
Net Incoming/(Outgoing) Resources
Reconciliation of Funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
2025
£
Restricted
Funds
2025
£
Total
Funds
2025
£
Total
Funds
2024
(Restated)
£
1,477,718
68,312
1,546,030
860,531
10,483
-
10,483
9,525
4,068
-
4,068
3,274
1,492,269
68,312
1,560,581
873,330
64,886
-
64,886
64,388
1,021,920
79,860
1,101,780
731,766
16,752
-
16,752
16,914
1,103,558
79,860
1,183,418
813,068
388,711
(11,548)
377,163
60,262
133,103
11,548
144,651
84,389
521,814
-
521,814
144,651

All incoming resources and resources expended derive from continuing activities.

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INTER CARE LIMITED BALANCE SHEET AS AT THE YEAR ENDED 31 AUGUST 2025

Note
FIXED ASSETS:
Tangible assets
10
CURRENT ASSETS:
Stocks
Debtors
11
Cash at bank and in hand
CREDITORS:
Amounts falling due within one year
12
NET CURRENT ASSETS:
NET ASSETS:
FUNDS
13
Unrestricted Funds:
General fund
Designated Funds
Restricted Funds		 2025
£
-
-
900
525,621
526,521
(4,707)
521,814
521,814
521,814
-
521,814		 2024
£
-
5,545
6,204
147,537
159,286
(14,635)
144,651
144,651
133,103
-
11,548
144,651

The trustees are satisfied that the charitable company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the period by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.

The trustees acknowledge their responsibilities for:

(i) ensuring that the charitable company keeps adequate accounting records which comply with section 386 of the Act, and

(ii) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its surplus or deficit for the financial period in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company.

The financial statements have however been audited as required by the Charities Act 2011.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

These financial statements were approved by the board and authorised for issue on 29 December 2025, and are signed on their behalf by:

S Mabley - Trustee Company Registration Number 01162279

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INTER CARE LIMITED STATEMENT OF CASH FLOWS THE YEAR ENDED 31 AUGUST 2025

Note
Cash flows from operating activities:
(Deficit)/Surplus for the year
Adjustments for:
Depreciation of fixed assets
Interest income
Decrease/(increase) in trade and other receivables
Decrease/(increase) in stock
Increase/(decrease) in trade and other payables
Net cash from operating activities
Investment activities:
Purchase of tangible fixed assets
Interest received
Net cash from investment activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of the year
Cash and cash equivalents at end of year		 2025
£
377,163
-
(4,068)
5,304
5,545
(9,928)
374,016
-
4,068
4,068
378,084
147,537
525,621		 2024
£
60,262
-
(3,274)
1,755
(1,541)
(1,596)
55,606
-
3,274
3,274
58,880
88,657
147,537

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INTER CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES

a) Accounting Convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets and in accordance with the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

b) Incoming Resources

All income is recognised as Incoming Resources once the charitable company has entitlement to the income, it is probable that the income will be received and the amount can be measured reliably.

Legacies are recognised as they are received.

The Trustees have changed the accounting policy regarding the valuation of medicines donated to Healthcare Units, by Inter Care. Previously, all medicines, whether purchased by or donated to Inter Care, were valued in accordance with the NHS Drug Traffic Rate (DTR) or, for donated product outside of this list, at an appropriate alternative cost. The new policy provides that all medicines purchased by Inter Care are valued at cost. Medicines donated to Inter Care are valued at the DTR or other appropriate pricing notified to Inter Care, by the supplier, at the time of supply. The 2024 comparatives have been restated accordingly.

In kind donations of medicines and health care goods (HCGs) to Inter Care are valued in the same way and recognised in Income and Expenditure when dispatched.

In recent years Inter Care has benefited greatly from partnerships with organisations providing access to purchase of low cost medicines and HCGs in the recipient country.

Intangible income comprises donated services which are included at valuation of the estimated financial cost borne by the donor.

Grants receivable are accounted for in the period to which they relate.

Voluntary income is recognised upon receipt.

Investment income is included when receivable.

Other income is recognised in the period when it is receivable.

c) Resources Expended

Resources expended are included net of VAT on an accruals basis.

Costs of generating funds comprise the costs associated with attracting voluntary income.

Charitable expenditure comprise those costs associated with meeting the constitutional requirements of the charitable company.

Governance costs include those costs associated with meeting the statutory requirements of the charitable company including the strategic management.

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INTER CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES (Continued)

As far as practical all expenditure is allocated directly to the above expenditure categories. Where direct allocation is not possible, costs are apportioned over the expenditure categories based on the analysis of division of staff time and other costs.

Grants payable to overseas projects are charged to the Statement of Financial Activities in the period to which they relate.

d) Tangible Fixed Assets

Fixed Assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life as follows:

Fixtures and fittings - 10% on cost Office Equipment - 20% on cost

Fixed assets costing more than £100 are capitalised.

A review of impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities.

e) Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

f) Taxation

As a charity, Inter Care Limited is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or S252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

g) Fund Accounting

General funds are unrestricted funds available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or which have been raised by the charity for a particular purpose. The cost of raising and administering such funds are charged against the specific fund.

h) Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the scheme are charged to the Statement of Financial Activities in the period to which they relate.

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INTER CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES (Continued)

i) Going Concern

The trustees assess whether the use of going concern is appropriate. ie. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make the assessment in respect of 12 months from the date of approval of the financial statements.

j) Company status

The charity is a company limited by guarantee. The members of the company include the trustees named on page 1. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.

k) Interest receivable

Interest of funds held on deposit is included when receivable and the amount can be measured reliably by the charitable company, this is normally upon notification of the interest paid or payable by the bank.

l) Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any discounts due.

m) Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of the investment starting.

n) Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

o) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and are subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

p) Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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INTER CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

2. INCOMING RESOURCES - DONATIONS AND LEGACIES

Unrestricted
Funds
2025
Restricted
Funds
2025
£
£
Medical donations and
supplies at drug tariff rate
918,529
-
Donations and gifts
176,115
68,312
Legacies
383,074
-
Total donations and
legacies
1,477,718
68,312
Donations and Gifts
Unrestricted funds
Premises rent waived by landlord
General donations received
The Dromintee Trust
Batchworth Trust
Souter Charitable Trust
Trust grants under £3,000
Stafford Trust
Edwina Mountbatten & Leonora Children Trust
Brian Mercer Trust
The Leonard Trust
SMB Trust
David Lister Trust
Haramead Trust
Barbara Ward Childrens Foundation
MPM Charitable Trust
Total Donations and Gifts – Unrestricted Funds
Restricted funds
Anonymous Donations and those under £3,000
Trust grants under £3,000
The Chrysalis Trust
Barbara Ward Childrens Foundation
Rozelle Trust
Tula Trust Ltd
The Leonard Trust
David Lister Trust
Beatrice Laing Trust
Edwina Mountbatten & Leonora Children Trust
W F Southall Trust
Peter Stebbings Charitable Trust
Cuckoo Hill Trust
Sister of St Joseph of Peace
Zephyr Charitable Trust
Total Donations and Gifts – Restricted Funds		 Unrestricted
Funds
2025
Restricted
Funds
2025
£
£
918,529
-
176,115
68,312
383,074
-		 Total Funds
2025
Total Funds
2024
(Restated)
£
£
918,529
569,161
244,427
285,367
383,074
6,003
1,477,718
68,312		 1,546,030
860,531
2025
2024
£
£
8,000
8,000
131,615
106,797
-
20,000
5,000
-
4,000
4,000
11,500
19,050
-
5,000
-
5,000
10,000
10,000
-
3,000
-
3,000
-
9,000
-
5,000
-
5,000
6,000
6,000
176,115
208,847
£
£
112
28,001
10,800
13,324
3,000
-
5,000
-
6,000
3,000
-
4,000
-
1,000
5,000
5,000
5,000
-
-
3,195
-
5,000
2,000
4,000
-
5,000
24,400
12,000
68,312
76,520

-17-

INTER CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

3. OTHER TRADING ACTIVITIES (ALL UNRESTRICTED FUNDS)

Events
Book/Card sales
4.
COST OF RAISING FUNDS
Rent and rates
Water, light and heat
Telephone/IT and website
Stationery, office, postage & sundry
Repairs and maintenance
Insurance
Wages and salaries
Fundraising costs
Pension costs
National Insurance
5.
CHARITABLE ACTIVITIES
Medicines and supplies donated
free of charge to Health Care Units
– see table below
Shipping UK
Shipping Overseas
Project miscellaneous costs
Waste disposal
Travel
Rent and rates
Water, light and heat
Telephone / IT and website
Stationery, postage and sundry
Repairs and Maintenance
Insurance
Payroll & HR fees
Professional fees
License fees
Training
Wages and salaries
National Insurance
Pension costs		 2025
£
2024
£
7,816
8,657
2,667
868
10,483
9,525
Unrestricted
Funds
2025
£
Restricted
Funds
2025
£
Total
Funds
2025
£
Total
Funds
2024
£
4,800
-
4,800
4,800
592
-
592
594
2,875
-
2,875
2,133
736
-
736
950
201
-
201
165
233
-
233
239
46,758
-
46,758
49,091
5,005
-
5,005
2,565
1,068
-
1,068
1,135
2,618
-
2,618
2,716
64,886
-
64,886
64,388
Unrestricted
Funds
2025
£
Restricted
Funds
2025
£
Total
Funds
2025
£
Total
Funds
2024
(Restated)
£
939,070
32,869
971,939
607,566
1,203
972
2,175
1,263
1,781
32,451
34,232
18,815
458
-
458
5,880
525
-
525
812
781
-
781
283
14,000
-
14,000
14,000
5,331
-
5,331
5,348
5,751
-
5,751
4,265
748
-
748
2,846
1,812
-
1,812
1,489
2,096
-
2,096
2,146
399
-
399
565
34
-
34
13
436
-
436
322
(1,995)
-
(1,995)
-
44,881
13,568
58,449
61,343
3,273
-
3,273
3,393
1,336
-
1,336
1,417
1,021,920
79,860
1,101,780
731,766
-18-

INTER CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

5. CHARITABLE ACTIVITIES (Continued)

Unrestricted
Funds
2025
£
Restricted
Funds
2025
£
Purchases of medicines and
supplies at cost
20,541
32,869
Donated medicines and
supplies valued at drug tariff
rates
918,529
-
Medicines and supplies
donated free of charge to
Health Care Units
939,070
32,869
6.
GOVERNANCE COSTS (ALL UNRESTRICTED FUNDS)
Audit Fee
Rent and rates
Training
Wages and salaries
National Insurance
Pension costs
7.
NET SURPLUS/(DEFICIT) FOR THE YEAR
The net surplus/(deficit) is stated after charging:
Depreciation
Other operating leases		 Unrestricted
Funds
2025
£
Restricted
Funds
2025
£
20,541
32,869
918,529
-		 Total
Funds
2025
£
Total
Funds
2024
(Restated)
£
53,410
38,405
918,529
569,161
971,939
607,566
2025
£
2024
£
2,940
2,810
1,200
1,200
-
-
11,690
11,965
655
662
267
277
939,070
32,869
16,752
16,914
2025
£
2024
£
-
-
20,000
20,000

-19-

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

INTER CARE LIMITED

8. TRUSTEES’ REMUNERATION AND BENEFITS

No Trustee received any remuneration or other benefits during the current or the previous year.

During the year no Trustees were reimbursed for out-of-pocket expenses

9. STAFF COSTS

Wages and salaries
Social Security costs
Pension contributions		 2025
£
2024
£
116,897
122,399
6,546
6,771
2,671
2,829
126,114
131,999

The average monthly number of employees during the year was as follows:

Generating Funds
Charitable Activities
employee earned £60,000 per annum or more.
NGIBLE FIXED ASSETS
COST OR VALUATION:
At 1 September 2024
Additions
Disposal
At 31 August 2025
DEPRECIATION:
At 1 September 2024
Charge for year
Charge on disposals
At 31 August 2025
NET BOOK VALUE:
At 31 August 2025
At 31 August 2024		 2025
2024
2
2
2
2
4
4
Fixtures &
Fittings
£
Computer
Equipment
£
Totals
£
5,033
18,747
23,780
-
-
-
-
-
-
5,033
18,747
23,780
5,033
18,747
23,780
-
-
-
-
-
-
5,033
18,747
23,780
-
-
-
-
-
-

No employee earned £60,000 per annum or more.

10. TANGIBLE FIXED ASSETS

-20-

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

INTER CARE LIMITED

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors
Prepayments and accrued income
VAT
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social Security and other taxes
Other creditors
Accrued expenses
13.
MOVEMENTS IN FUNDS
At 1
September
2024
£
Incoming
Resources
£
Unrestricted funds
General funds
133,103
1,492,269
Designated funds
-
-
133,103
1,492,269
Restricted fund
Restricted fund
11,548
68,312
144,651
1,560,581
14.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Fund
£
Fixed assets
-
Cash at bank and in hand
525,621
Other net (liabilities)/assets
(3,807)
521,814
Unrestricted
Fund
£
Fixed assets
-
Cash at bank and in hand
135,989
Other net (liabilities)/assets
(2,886)
133,103		 Other debtors
Prepayments and accrued income
VAT
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social Security and other taxes
Other creditors
Accrued expenses
13.
MOVEMENTS IN FUNDS
At 1
September
2024
£
Incoming
Resources
£
Unrestricted funds
General funds
133,103
1,492,269
Designated funds
-
-
133,103
1,492,269
Restricted fund
Restricted fund
11,548
68,312
144,651
1,560,581
14.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Fund
£
Fixed assets
-
Cash at bank and in hand
525,621
Other net (liabilities)/assets
(3,807)
521,814
Unrestricted
Fund
£
Fixed assets
-
Cash at bank and in hand
135,989
Other net (liabilities)/assets
(2,886)
133,103		 Other debtors
Prepayments and accrued income
VAT
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social Security and other taxes
Other creditors
Accrued expenses
13.
MOVEMENTS IN FUNDS
At 1
September
2024
£
Incoming
Resources
£
Unrestricted funds
General funds
133,103
1,492,269
Designated funds
-
-
133,103
1,492,269
Restricted fund
Restricted fund
11,548
68,312
144,651
1,560,581
14.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Fund
£
Fixed assets
-
Cash at bank and in hand
525,621
Other net (liabilities)/assets
(3,807)
521,814
Unrestricted
Fund
£
Fixed assets
-
Cash at bank and in hand
135,989
Other net (liabilities)/assets
(2,886)
133,103		 2025
£
2024
£
-
5,226
833
833
67
145
900
6,204
2025
£
2024
£
511
1,500
471
720
3,725
12,415
4,707
14,635
Outgoing
Resources
£
Transfers
£
At 31
August
2025
£
1,103,558
-
521,814
-
-
-
133,103
11,548		 1,492,269
68,312		 1,103,558
-
521,814
79,860
-
-
144,651 1,560,581 1,183,418
-
521,814
Unrestricted
Fund
£
-
525,621
(3,807)		 Restricted
Fund
£
2025
Total
£

-
-

-
525,621

-
(3,807)

-
521,814
Restricted
Fund
£
2024
Total
£

-
-

11,548
147,537

-
(2,886)

11,548
144,651
521,814
Unrestricted
Fund
£
-
135,989
(2,886)
133,103

-21-

INTER CARE LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025

INCOME AND ENDOWMENTS
Donations and legacies
Medical donations (Includes revaluations)
Trust donations
General donations received (Incl Gift Aid)
Legacies
Gifts in kind
Other trading activities
Book/Card Sales
Events
Investment and other income
Deposit account interest
Total incoming resources
EXPENDITURE
Wages
Employers National Insurance
Pension
Rent & rates
Insurance
Water, light & heat
Telephone, IT & website
Postage & stationery
Repairs & maintenance
Donated medicines & supplies
Shipping UK
Shipping Overseas
Project miscellaneous costs
Waste disposal
Travel
License fees
Payroll & HR fees
Governance
Training
Fundraising costs
(Gain)/Loss of Foreign Exchange
Total resources expended
Net income/(expenditure)		 Unrestricted
Funds
£
Restricted
Funds
£
Total Funds
2025
£
Total Funds
2024
(Restated)
£
918,529
-
918,529
569,161
36,500
68,200
104,700
142,569
131,615
112
131,727
134,798
383,074
-
383,074
6,003
8,000
-
8,000
8,000
1,477,718
68,312
1,546,030
860,531
2,667
-
2,667
868
7,816
-
7,816
8,657
10,483
-
10,483
9,525
4,068
-
4,068
3,274
1,492,269
68,312
1,560,581
873,330
103,329
13,568
116,897
122,399
6,546
-
6,546
6,771
2,671
-
2,671
2,829
20,000
-
20,000
20,000
2,329
-
2,329
2,385
5,923
-
5,923
5,942
8,626
-
8,626
6,398
1,472
-
1,472
1,914
2,013
-
2,013
1,654
939,070
32,869
971,939
607,566
1,203
972
2,175
1,263
1,781
32,451
34,232
18,815
458
-
458
5,880
525
-
525
812
781
-
781
283
436
-
436
322
399
-
399
565
2,974
-
2,974
2,823
(1,995)
-
(1,995)
1,882
5,005
-
5,005
2,565
12
-
12
-
1,103,558
79,860
1,183,418
813,068
388,711
(11,548)
377,163
60,262

This page does not form part of the statutory financial statements

-22-