Charity registration number 283556 Company registration number 01589898 (England and Wales) CAMPHILL MILTON KEYNES COMMUNITIES UMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
CAMPHILL MILTON KEYNES COMMUNrrIES UMITED LEGAL AND ADMINISTRATIVE INFORMATION TNstees J Cooper 5 Prosky G Lighrfoot (Chair to December 20241 E Bradley R Malik J Moffoot l Revell E Sheldon (Chair from January 2025) P Howard Secretary J Moffoot Charity number 283556 Company number 01589898 Principal address Japonica Lane Willen Park South Milton Keynes Buckinghamshire MK15 9JY Registered office Japonica Lane Willen Park South Milton Keynes Buckinghamshire MK15 9JY Auditor Myers Clark Egale I 80 St Albans Road Watford Hertfordshire WD17 IDL Investment advisors Rathbones Investment Management I Curzon Street London WIJ 5FB
CAMPHILL MILTON KEYNES COMMUNITIES UMrrED CONTENTS Page Trustees, report Statement of trustees, responsibilities Independent auditor's report 10-12 Consolidated Statement of financial artivities Consolidated Summary income and expenditure account 15 Consolidated Balance Sheet 16 Company Balance Sheet 17 Consolidated Statement of cash flow5 18 Notes to the financial statements 19-39
CAMPHILL MILTON KEYNES COMMUNITIES UMITED TRUSTEES. REPORT UNCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 JUNE2024 The trustees present their annual report and financial statements for the year ended 30 June 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the charitable company's Memorandum and Articles of Association, 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 U K and Republic of Ireland IFRS 102)" las amended for accounting periods commencing from l January 20191 Objectives and a¢tivities CMKC'S Memorandum of Association defines its main objects as follows.. "The Charity's objects are, for the public benefit, to relieve sickness, promote good health, provide care to and advance the education and training of.. people with a disability (whether mental or physicall, the young, the old, or people otherwise in need, in accordance with the principles of Dr Rudolf Steiner las summarised in the Appendix to this Memorandum), particularly (without limitation) by the establishment and maintenance of communities in the form of villages, residential houses, day centres, kindergartens, schools, colleges or other types of social and/or educational community, in which beneficiaries live and/or work and/or to which they OtheISe resor( in community with persons providing support.. The Appendix referred to above summarises the principles formulated by the Austrian philosopher, Dr Rudolf Steiner, about many aspects of daily life including social life, economic life, agriculture, horticulture, art, medicine, finance and religion. During the year there has been no change to policies adopted in furtherance of our objects. The charity operates as a Community, managing three main activities that can be summarised as.. l. Tenancy Our accommodation consists of several houses where residents and support staff share their lives as Community in addition to a number of houses comprising residents requiring only daily support visits. Each resident has an assured short hold tenancy agreement with CMKC which makes them eligible to apply for Housing Benefit from the Local Authority. 2. Supported Living In addition to the provision of accommodation for each resident CMKC also provides residents with the necessary day-to-day support to live their lives as they choose within and beyond the Community. This comprises daily 5UPPOrt to residents appropriate to their needs and lifestyle as assessed by the relevant Local Authority. 3. Day W0hop5 The provision of work experience in a range of well-structured therapeutic workshops centred around working on the land, food processing, arts, crafts and music. Residents are supported within the workshops by a combination of volunteers and employees Monday to Friday. In addition, the workshops are available to adults with learning disabilities from the wider Milton Keynes community who are interested in attending. Our activities operate from two main sites within Milton Keynes, Willen Park South and Pennyland. The charity owns the freehold of a ten-acre site at Willen, as well as the workshops and four of the five houses. The fifth house was built by Aldwyck Housing Association (now Peabody) with Housing Corporation funds. Aldwyck Housing Association made this house available under a management agreement between Aldwyck and CMKC. This house is operated similarly to the other residential houses and is built on land leased by CMKC to Aldwyck on a long-term basis. CMKC also owns two separate houses within proximity of the Willen estste. CMKC manages three additional houses that are rented from Milton Keynes Council at Pennyland, where it also owns the freehold of 1.75 acres of land which includes a workshop facility. CMKC has taken on the management of a further house 'Kirtlington" in Downhead Park, leased from a family member to support three additional residents. CMKC is part of the wider Camphill Movement which has over one hundred centres worldwide, all caring for children or adults with learning disabilities or who are emotionally disturbed. CMKC 15 autonomou5 regarding day-to-day operations and in respect of all financial matters but benefits from the wealth of experience available within the Camphill Movement as a whole. Our CEO is chair of the England & Wales Neighbourhood and member of the Association of Camphill Communities UK & Ireland coordinating group.
CAMPHILL MILTON KEYNES COMMUNMES UMITED TRUSTEES. REPORT UNCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE2024 Publi¢ Benefit When setting objectives, Trustees acknowledge that the charity is a Public Benefit Entity & give consideration to the Charity Commission's published guidance on the Public Benefit requirement under the Charities Act 2011 guidance on public benefit. The charity, in pursuit of its objects, continue5 to provide support of adults with learning disabilities by providing a community environment where they can be supported to live, socialise and gain work experience in a therapeutic workshop. This provision is provided to both existing Community residents and extended to local service users from the wider community- In 2016, the charity became a member of Wolverton Community Energy (WCEI, a registered society. CMKC lease roof space to WCE for the installation of solar panels, this agreement providing subsidised energy to the charity. WCE collaborate with individuals and businesse5 in Wolverton and the wider Milton Keyne5 area to help them become more energy efficient and to reduce the amount of carbon they use. Their long-term view and our aim are to take the WCE community off-grid, with zero carbon use. They have a strong track record and have already completed several successful projects. They are currently exploring a range of other ways to harness renewable energy sources from solar PV installations to hydro, and from biomass to LED lighting retrofits. They aim to invest 50% of profits back into the local community, with a particular focus on relieving fuel poverty for the most vulnerable. Achievements and performance CMKC currently maintains twelve residential houses in which around seventy re5ident5 live. It also operates several day workshops including the Camphill cafe, providing residents with the opportunity to connect naturally with the wider Milton Keynes community. At the heart of our community are our residents and external seNice users who use our support and workshops and, as the beneficiaries of our charity, are the focus of our thinking. Their health and wellbeing are our business. We aim to do that well. Trustees are committed to the continued successful futLJre of the Community and assess performance against objects via several measures involving the Community and stakeholders. Internal benchmarks comprise but are not limited to financial budgets, HR & Training plans, H&S kpi's, support plans, risk assessments, commissioned professional advice and resident suNeys. Stakeholder benchmarks comprise but are not limited to Local Authority inspection5 (Adult Social Care, Housing & Fire Brigade), resident annual reviews with social workers, CQC inspections, resident family support group meetings and suNeys. In total the reported data provides Trustees with an oveNiew of the Community's performance against its objects.
CAMPHILL MILTON KEYNES COMMUNrrIES UMITED TRUSTEES. REPORT UNCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUJVE 2024 Achievements and perfomiance (Continued) A key indicator of year-on-year provision of quality support is the regular inspection of our services by the Care Quality Commission ICQCI. They are the independent regulator of health and adult social care in England who ensure health and social care services provide people with safe, effective, compassionate, high-quality care and encourage care services to improve. The charity was last formally inspected by the CQC in October 2018 and was rated as 'Good" in all five "key lines of enquiry" being Safe, Effective, Caring, Responsive & Well Led, resulting in a positive report and overall score of "Good. The pandemic created a backlog for CQC and the inspection regime then changed focus to target high risk and failing settings, Camphill MK is unlikely to be formally re-inspected before 2025, although this is not impossible and can inspect without notice. In the interim we undertake internal audits to monitor our service provision in addition to local authority PAMMS inspection for which we are rated "excellent". Trustees recognise the commitment of the Community in achieving this rating and will continue to provide all necessary resources to maintain a high level of quality SUPPOrt. As noted in previous years, the charity concluded plans to move to a fully employed support staffing model, the reduction in live in volunteers providing additional accommodation for new residents. This is a different approach to other Camphill settings in the UK however it supported our further growth and support for more beneficiaries {increased residents) we have now exceeded our target. The charity's plan for growth has continued to progress and we will open our first new accommodation in 2025. Progress with additional buildings and housing will further depend on success raising funds,. however, we are very pleased to anticipate new staff and residents commencing February / March 2025. Plans for future periods The strategic plan was initially commenced in 2016, and has been updated year on year to reflect progress and revision,. an extract is presented below.. Our strategy identifies five key areas of development.. Ensure we have the right numbers and quality of stsff in place to sustain good quality of care and management. Revise organisational roles to ensure sustainability of operations and scalability Ensure our buildings are well maintsined and utilised and fit for purpose. Ensure our services provided are relevant, financially sustainable and high quality Extend our reach to beneficiaries by developing new service5 Our current position regarding these objectives= Obje¢tive l {Staffing) Although initially on tracl our work to increase staffing was escalated due to the sudden and unexpected national challenges to recruitment of Tier S Visa volunteers. We responded to this effectively and whilst this put us in an unplanned operational deficit for a period a positive outlook progressed well with staffing costs recovered through the recruitment of new residents. 2023 124 has seen us consolidate our staffing model, revising administrative and line management roles and balancing staff numbers to meet the commissioned hours of residents and workshop participants. The staffing model does not rely on volunteers which has proved to be a prudent decision. We are now in the process of redefining our local volunteer protocols and policies to encompass fundraising supporL theatre activity and workshop / admin support.
CAMPHILL MILTON KEYNES COMMUNITIES UMITED TRUSTEES, REPORT aNCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR EJVDED 30JUJVE 2024 Plans for future periods (continued) Objective 2 (Role5 and responsibilities) We upskilled our stsff as per our plans and recruited key managers who are well established in their roles in Facilities Management, Registered Manager and Service development / assessment Roles. House coordinators are well supported in developing first line management skills and we have been fortunate in recruiting and retaining competent and caring individuals across the organisation in both care and workshop teams. We note that our recruitment activity is far more fluid than previously experienced as employed stsff tend to be more mobile in the employment market and we are competing with retail, hospitality, and other sectors for our staff, however the annual recruitment and training of volunteers is significantly less impactful on the quality of our care and the pressure on our staff as might previously have been argued. We have strong retention levels including internal promotion5.' through in-house training we are pleased to have seen 23 staff members gain promotions in the past S-years. Objective 3 (Buildings well utilised. fit for purpose and sustainable) This has progressed significantly due to the recruitment of a facilities manager and investment approval from trustee5. Heating systems and other infrastructure such as monitoring of Health and Safety activity and preventative artivity has become more systematised and effective. Monitoring and reporting of safety and welfare concerns remains reliable, and relationships with sub-contrartors and consultants are more effectively monitored and maintained. Objective 4 (Ensure services are relevan( financially sustainable and of high quality) Thi5 continue5 to progress on an individual level however this has been a significant focus of our registered managerfs attention during the year. We have seen a consistency of funding for residents assessed by the local authority teams and have challenged (generally but not universally successfully) where reductions have been proposed, often seeing successful increases in funding where appropriate. We have additionally focussed on introducing new systems to administer and monitor our HR functions across the organisation, commissioning new cloud-based software systems to manage staff and volunteers. Previous work to embed E MAR (Medication management) and E Care systems now being well established. Objective 5 (Extend our reach by developing new seNices) Trustees approved our ambitions growth plans in an overarching plan that will see us double our capacity in stages Idependant on fundraising success), predominantly to meet the ongoing age-related needs of our beneficiaries. Recognising that people with learning disabilities live longer lives due to improvements in healthcare and reasonable adjustments - but also now experience age related mobility and other issues. The overall accessible build was additionally broken down into achievable funding and build phases to sensibly manage the project and to manage the build whilst allowing our core business to continue. Significantly, our first house was commenced in 2024 with a 2025 completion date.
CAMPHILL MILTON KEYNES COMMUNITIES UMITED TRUSTEES. REPORT UNCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUIVE2024 Planned activity for the coming year. Although we have made good progress in each of our five objectives we consider them to remain entirely relevant to our onward success and sustainability. Along with necessary improvements to infrastructure such as wayfinding, parking, and access to our land we aim to further develop our environment and resources to meet incoming and existing resident accommodatiori and day opportunity need and to utilise our resources to best practical and financial effect. An overarching driver for this is to achieve and maintain sustainable balanced budget as we recogni5e that without this our attivity will be challenging. We aim to extend our reach to meet the needs of our local and national referra15 of individuals seeking community living resources and meaningful activity whilst maintaining a high quality of care and physical resources that are well suited to the needs of those we supporL We also aim to maintain and develop our community influence, engaging positively with the general public and with the disability and related sectors to promote 'Camphill Values Today". In practical terms the recognition of people as human individuals first with a place in society that is productive, respected, valued, and live with dignity (rather than the medical model of focus on needs and diagnosis). Trustees are confident that the charity can continue to meet its liabilities as they fall due for the foreseeable future and that the accounts should be prepared on the going concern basis. CMKC made charitable donations of £nil (2023.. £nill during the year. Reserves During the year the Board has considered the level, in line with the Charity Commission Guidelines, it should retain in its reserves. Its current policy reflects the need to maintain current operations while providing for future commitments. The Board reviews its reserves policy annually in line with recommended practice. During the year of report, Trustees re-assessed its designated funds, re-allocating to reflect known requirements. Note 21/22 sets out an analysis of the a55ets attributable to the various funds. These assets are sufficient to meet CMKC'S obligations on a fund-by-fund basis. The Board has considered the requirement for free reseNes, being those unrestricted funds not invested in tsngible fixed assets, designated for specific purposes or otherwise committed. The Board believes that this should represent three months of expenditure. At this level the Board believes it can continue the activities of CMKC in the event of a significant drop in funding until alternative sources can be identified. As detailed in the next paragraph, Free ReseNes currently represent 6.6 months expenditure and the Board aims to maintain, at least, to the target level of the Free ReseNes. As at 30 June 2024, the company's total reserves of £6,329,976 can be analysed as follows: Tied up in intangible fixed assets Tied up in buildings and other tangible assets Allocated to Restricted & Designated Reserves The balance being Free Reserves 3,572,566 1,527,179 1,230,231 Investments In 2014, the charity invested £500,000 with an objective of long-term capital growth. These funds are managed by Rathbones Investment Management, Trustees authorising the funds be invested using the Church of England ethical model as a basis. Global events have impacted markets over the years, but Trustees are satisfied with Rathbone's managed investment performance.
CAMPHILL MILTON KEYNES COMMUNrriES UMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUIVE2024 Structure. governance and management Structure CMKC is a private company limited by guarantee and has no share capital. Membership comprises current and former Trustees, the extent of their liability as members of the company on a winding up limited to a maximum of £1 each. The company retains a wholly owned subsidiary, Camphill Contracts (Milton Keynes) Limited, the company currently dormant having ceased trading June 2008. CMKC is also registered as a charity Wlth the Charities Commission. The trustees, who are also the directors for the purpose of company law, and who seNed during the year and up to the date of signature of the financial statements were.. J Cooper S Prosky G Lightfoot Ichair to December 20241 E Bradley R Malik J Moffoot l Revell E Sheldon (Chair from January 2025) P Howard None of the trustees has any beneficial interest in the company. Governance CMKC is governed by its Memorandum and Articles of Association, the current document being adopted by members at the Annual General Meeting on 23 April 2007. Control is exercised by the Board of Trustees consisting of individuals who have an interest in the charity's objectives be it as a resident family member and/ or the charity ethos. In addition, consideration is given to the skills and experience each Trustee can bring to the Board, the most recent Skills Audit updated in the prior year. The Board maintains an open recruitment policy and will consider appropriate and eligible applicants recommended by Trustees or Management. New Trustees undergo a selection/indurtion process providing insight into the role, charity eth05, finance, operations, residents and staff. This will typically involve attendance at a Trustee meeting, interview, desktop research, shadowing management and involvement in support/workshop operations. The Board may co-opt new members between Annual General Meetings. Under article 16 the appointment of co opted trustees must be confirmed by the members at the next Annual General Meeting. Under Article 9 one-third of the members are required to retire by rotation. Trustees to be confirmed andlor retiring by rotation at the Annual General Meeting are Article 16.. None Article 9.. G Lightfoot E Sheldon, E Bradley The Board meet quarterly with two SLFb-groups Finance, Audit & General Purposes and Build Projett meeting prior to each Trustee meeting.
CAMPHILL MILTON KEYNES COMMUNrnES UMITED TRUSTEES. REPORT UNCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR EJVDED 30 JUNE2024 Structure. governance and management (continued) Management The day-to-day management of CMKC is delegated to the Chief Executive within terms of delegation approved by Trustees. The Chief Executive is assisted by a Management Team responsible for Service Delivery, Workshops, HR, Training, Facilities, H&S and Finance. Trustees review the remuneration of all employees (including the CEO & Management team) annually considering charity finance5, UK economic indicators and local government/charity sector comparatives. Senior Management Chief Executive Day Opportunites Manager HR/Training Manager Facilities Manager Registered Manager Finance Manager Company Secretary Head of Development T Davies J Funge M Tudor S Death T Bridle D Peddle (until September 20241 / M Minett (from September 2024) D Peddle (until October 2023) / J Moffoot Ifrom October 20231 L Davies Volunteers Integral to the Carnphill ethos is the contribution made by volunteers to the charity's activitie5. The charity actively encourages volunteer support of its residents and recognises the positive impact they make. Our volunteer base is local and was impacted by Covid lockdown restrictions but we are artively promoting for new volunteers to join our community. Trustees would like to record their gratitude to those volunteers who have contributed to the community during the year. Related Party & Co-operation with other organisations No Trustees receive remuneration or other benefit from their work with the charity. The charity updates it Related Party Transartions Register annually, note 26 to the accounts providing details to related party transactions during the year. CMKC has a close association with Tools for 5elf-Reliance (Milton Keynes) ['TFSR'I. A separate charity, TFSR collects old unwanted hand too15 and restores them to working condition, ultimately, donating them to projects in developing countries. This artivity is undertaken as a workshop within CMKC, several of our residents attending Monday to Friday. The operating agreement was re-negotiated in April 2022 whereby there is now no financial cross charging between the two charities ICMKC to TFSR 2024 nil, 2023 £nil, TFSR to CMKC 2024 nil 2023.. £nil), CMKC operating the workshop using TFSR'S name and equipment where appropriate. CMKC is part ofthe wider Camphill Movement which has over one hundred centres worldwide, all caring for children or adults with learning disabilities and or mental health problems. CMKC 15 autonomous with regard to day-to-day operations and in respect of all financial matters but benefits from the wealth of experience available within the Camphill Movement as a whole. The Community is a member of the Association of Camphill Communities IAOCCI, its membership comprising several Camphill Communities located within UK and Eire. This membership provides valuable networking and best practice sharing. The charity is also a member of Wolverton Community Energy, details as above in Public Benefit. Locally the charity attends various Local Authority and Third Sector Supplier foTums in pursuit of the charity's objectives. Where appropriate, it is the intention of the charity to offer partnership & leadership to the settor via these forums.
CAMPHILL MILTON KEYNES COMMUNITIES UMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Structure. governance and management (continued) Fundraising The charity's main income is derived from resident rent and local authority fees, fundraising historically a minor income stream. Two years ago, the community invested in members of stsff (Head of Development and Community Fundraiser) to support its fundraising strategy. The team have generated a robust return on this investment with a very successful year of activity- Key Risks and uncertainties The Board has assessed the major risks to which CMKC is exposed and is satisfied those systems are in place to mitigate exposure to these risks. A detailed assessment has been made of the potential risks to which the residents, co-workers and staff may be exposed to in each of the properties of CMKC, and suitable policies and procedures to minimise these risk5 have been put in place. These are reviewed regularly by Trustees. CMKC maintains a Risk Register identifying various risks set against control and mitigation procedures. These cover key areas such as Charity Law, Governance, Operations, H&S, Finance and Reputation and are reviewed and agreed annually by Trustees. Exemptions from disclosure None Funds held as Custodian Trustees on behalf of others During the period of report there were no assets held. Grant-making During the year, no grant payments were made {2023'. no grant payments were made). Disclosure of information to auditors Each of the directors has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditors are unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information. Auditor In accordance with section 487 of the Companies Act 2006, a resolution will be submitted at the forthcoming Annual General Meeting that Myers Clarl Chartered Accountants, be re-appointed as auditors. The trustees, report was approved by the Board of Trustees. J Cooper Trustee Dated.. 24 February 2025 ffoot Trustee Dated..24 February 2025
CAMPHILL MILTON KEYNES COMMUNITIES UMITED STATEMENT OF TRUSTEES. RESPONSIBILrriES FOR THE YEAR ENDED 30 JUNE2024 The trustees, who are also the directors of Camphill Milton Keynes Communities Limited for the purpose of cornpany law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year which give a twe and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitsble company for that year. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently, obseNe the methods and principle5 in the Charities SORP,. make judgements and estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the asset5 of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
CAMPHILL MILTON KEYNES COMMUNITIES UMITED INDEPENDENT AUDrroR'S REPORT TO THE TRUSTEES OF CAMPHILL MILTON KEYNES COMMUNrriES UMITED Opinion We have audited the financial statements of Camphill Milton Keynes Communities Limited (the 'charitable company'l and its subsidiary (the 'group'l for the year ended 30 June 2024 which comprise the group statement of financial activities, the group summary income and expenditure accounL the group balance sheet, the company balance sheet, the group statement of cash flows and the notes to the financial statements, including si9nificant 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 3ppl/cable in the UKandRepub/ic oflrelandlunited Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the charitable company's and the group's affairs a5 at 30 June 2024 and of its incoming resources and application of resources, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Prartice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUK) OSAS IUKI) and applicable law. Our responsibilities under those standards are further described in the Auditor5 responsibilities for the audit of the /nancia/ statement5 section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UL 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 3 basis for our opinion. Conclusions relating to going ¢on¢em In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements 15 appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other infomiation The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of the audit, or otheise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statement5 themselves. 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. Opinions on other matters prescribed by the Companies Art 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the trustees, repor¢ which includes the dirertors. report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the directors, report included within the trustees. report has been prepared in accordance with applicable legal requirements. 10-
CAMPHILL MILTON KEYNES COMMUNITIES UMITED INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE TRUSTEES OF CAMPHILL MILTON KEYNES COMMUNtriES UMITED Matters on which we are required to report by exception In the light of the knowledge and understanding of the group and its environment obtained in the course of the audi¢ we have not identified material misstatements in the directors, report included within the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities (Accounts and Reports) Regulations 2008 require us to report to you if. in our opinion= the information given in the financial statements is inconsistent in any material respect with the trustees, repor( or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records,. or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the statement of trustees, responsibilities, the trustees, who are also the directors of the group for the purpose of company law, 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 ststements that are free f rom material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group'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 charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Art 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatemen¢ whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of a55urance 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. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. The extent to which the audit was considered Capable of deterting irregularities including fraud In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following., The nature of the industry and settor, control environment and business performance including the design of the remuneration policies, key drivers for trustee remuneration, bonus levels and performance targets,. results of our enquiries of Management about their own identification and assessment of the risks of irregularities., any matter5 we identified having obtsined and review the charitable company's documentation of their policies and procedures relating to-, identifying, evaluating and complying with laws and regulation and whether they were aware of any instances of non-compliance,. detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud,. the internal controls established to mitigate risks of fraud or non-compliance with laws and regulatior)s-, the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. 11
CAMPHILL MILTON KEYNES COMMUNITIES UMJTED INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE TRUSTEES OF CAMPHILL MILTON KEYNES COMMUNrriES UMITED As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAS {UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks tliat the charitable company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material peT7alty. These included Employment law. Audit response to risks identified To address the risk of fraud through management bias and override of controls, we: performed analytical procedures to identify any unusual or unexpected relationships- tested jOLirnal entries to identify unusual transactions,. assèssed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias,. and investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to.. agreeing financial statement disclosures to underlying supporting documentation,. reading the minutes of meetings of those charged with governance., and enquiring of management as to actual and potential litigation and claims. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.// www.frc.org.uVauditor5responsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and part 4 of the Charities (Accounts and Report5) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those rnatters we are required to State to them in an auditors. report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit worl for this report, or for the opinions we have formed. Myers lark 3 March 2025 Chartered Accountants Statutory Auditor Egale I 80 St Albans Road Watford Hertfordshire WD17 LDL 12-
CAMPHILL MILTON KEYNES COMMUNXTIES UMXTED CONSOUDATED STATEMENT OF FINANCIAL ACTivrriES INCLUDING INCOME AND EXPENDrruRE ACCOUNT FOR THE YEAR ENDED 30 JUIVE2024 Unrestricted Restricted funds funds Total 2024 Total 2023 Income and Donations and legacies Charitable artivities Investments Other income wm 164,971 4,684,089 59,547 40,717 254.613 419,584 4,684,089 59,547 40,717 380,386 3,849,397 29,846 380,946 Totsl income 4,949,324 254,613 5,203,937 4,640,575 enditure o Raising funds Charitable artivities 255,966 4,250,618 255,966 4,264,288 108,723 3,463,422 13,670 Totsl resources expended 4,506,584 13,670 4,520,254 3,572,145 Net gains/(lossesl on investments 14 45,450 45,450 12,746 Net movement in funds 488,190 240,943 729,133 1,081,176 Fund balances at l July 2023 5,217,780 383,063 5,600,843 4,519,667 Fund balances at 30 June 2024 5,705,970 624,006 6,329,976 5,600,843 The statement of financial activities includes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Art 2006. 13
CAMPHILL MILTON KEYNES COMMUNrriES UMITED CONSOUDATED STATEMENT OF FINANCIAL ACTIVrnES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE2024 Consolidated Statement of Financial Activities - Prior Year Detail Unrestricted Restricted funds funds Total 2023 Income Donations and legacies Charitable activities Investments Other income wm 119,872 3,849,397 29,846 380,946 260,514 380,386 3,849,397 29,846 380,946 Total income 4,380,061 260,514 4,640,575 Raising funds Charitable activities 108,723 3,457,992 108,723 3,463,422 5,430 Total resource5 expended 3,566,715 5,430 3,572,145 Net gains on investments 12,746 12,746 Net movement in funds 826,092 255,084 1,081,176 Fund balances at l July 2022 4,391,688 127,979 4,519,667 Fund balances at 30 June 2023 5,217,780 383,063 5,600,843 14-
CAMPHILL MILTON KEYNES COMMUNITIES UMITED CONSOUDATED SUMMARY INCOME AND EXPENDrruRE ACCOUNT FOR THE YEAR EJVDED 30 JUNE2024 All income funds 2024 All income fund5 2023 Gross income Gains on investments 5,203,937 45,450 4,640,575 12,746 Total income in the reporting period 5,249,387 4,653,321 Total expenditure from income funds (4,520,254) (3,572,145) Net income for the year 729,133 1,081,176 STATEMENT OF RECOGNISED GAINS AND LOSSES Net incomellexpenditurel for the year Unrealised Ilossesl/gains on investment assets held by income funds 683,683 45,450 1,068,430 12,746 729,133 1,081,176 15-
CAMPHILL MILTON KEYNES COMMUNITIES UMITED CONSOUDATED BALANCE SHEET ASA T30JUJVE2024 2024 2023 Notes Fixed assets Tangible assets Investments 15 17 3,572,566 568,262 2,724,563 515,727 4,140,828 3,240,290 Current assets Stocks Debtors Cash at bank and in hand 16 1,000 743,382 2,141,193 1,000 225,708 2,519,704 2,885,575 2,746,412 Creditors: amounts falling due within one year 19 1696,4271 (385,8591 Net current assets 2,189,148 2,360,553 Totsl assets less current liabilities 6,329,976 5,600,843 Income funds Restricted funds Unrestricted funds 21 22 624,006 5,705,970 383,063 5,217,780 6,329,976 5,600,843 The directors acknowledge their responsibilities for complying with the requirements of the Companies Att 2006 with respect to accounting records and the preparation of financial statements. The financial statements were approved by the Trustees on 24 February 2025 J Cooper Trustee offoot Trustee Company Registration No. 01589898 16-
CAMPHILL MILTON KEYNES COMMUNITIES UMrrED COMPANY BALANCE SHEET ASA T30JUNE2024 2024 2023 Notes Fixed assets Tangible assets Investments Investments in subsidiary 15 17 3,572,566 568,262 2,724,563 515,727 4,140,830 3,240,292 Current assets Stocks Debtors Cash at bankand in hand 16 18 1,000 743,382 2,141,193 1,000 225,708 2,519,704 2,885,575 2,746,412 Creditors: amounts falling due within one year 19 (696,4291 1385,8611 Net current assets 2,189,146 2,360,551 Total assets less current liabilities 6,329,976 5,600,843 Income funds Restricted funds Unrestricted funds 21 22 624,006 5,705,970 383,063 5,217,780 6,329,976 5,600.843 The directors acknowledge their responsibilities for complying with the requirements of the Companie5 Act 2006 with respect to accounting records and the preparation of financial ststements. The financial statements were approved by the Trustees on 24 February 2025 J Cooper Trustee ffoot Trustee Company Registration No. 01589898 17-
CAMPHILL MILTON KEYNES COMMUNITIES UMITED CONSOUDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUIVE2024 2024 2023 Notes Cash flows from operating a¢tivities Cash generated from operations 29 726,885 947,175 Investing activities Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Cash withdrawals from investment portfolio Payment of investment manager fees Investment income received {1,159,367) {590,1291 168 569,270 50,774 15,809) 29,846 15,7441 59,547 Net cash (used in)/generated from investing activities {1,105,396} 53,952 Net cash used in financing activities Net {decrease)fincrease in cash and cash equivalents 1378,5111 1,001,127 Cash and cash equivalents at beginning of year 2,519,704 1,518,577 Cash and cash equivalents at end of year 2,141,193 2,519,704 18-
CAMPHILL MILTON KEYNES COMMUNITIES UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE2024 Accounting policies Charity information Camphill Milton Keynes Communities Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Japonica Lane, Willen Park South, Milton Keynes, Buckinghamshire, MK15 9JY. 1.1 Accounting convention The financial statements have been prepared in accordance with the charitable company's memorandum and articles of association, the Companies Act 2006, FRS 102 -The Financial Reporting Standard applicable in the UK and Republic of Ireland. ('FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021" (effective l January 2019). The charitable company is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the fvnrtional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are Set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted fund5 are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 19-
CAMPHILL MILTON KEYNES COMMUNrrIES UMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE2024 Ac¢ounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or construrtive obligation to transfer economic benefit to a third party, It is probable that a transfer of economic benefit5 will be required in Settlement, and the amount of the obligation can be measured reliably. Governance costs.. These include the cost of governance arrangements which relate to the general running of the company, as opposed to the direct management functions inherent in its charitable activities, plus a share of support costs. Directly attributable costs include costs such as external audit and costs a550ciated with statutory requirements. Support costs: These are costs that are not in themselves direct activity costs but enable the delivery of these activities. Support costs are allocated to direct activity costs on the basis that the activity utilises these costs. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold property Leasehold land and buildings Building improvements Garden & workshop Fixtures, fittings & equipment Motor vehicles Freehold property- Car park 2% straight line 113 years 15 years 25% straight line 25% straight line 25% straight line 7 years The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial artivities. Assets under construction Assets under construction are accounted for at cost based on the value of the contractors valuation certificates and other direct costs for construction incurred to date. These are recognised as 'Assets under construction, at the date of the certificates or when the cost is incurred. Assets under construrtion include the following costs.. Building works including labour, materials, transportation Legal Fees from solicitors Architect fees Planning fees Costs recorded as 'Assets under construction, are not depreciated until the asset is brought into use. Conversion to depreciable fixed asset Assets under construrtion should be recognized as an asset when it is available for use ie when it is in the condition necessary for it to be capable of operating in the manner intended by management. In the case of properties for Camphill, this is the point at which the building can be used for residents. It does not mean that residents will immediately be in the propety but that the building is in a tit state to house residents. Once the asset comes into use, the cost will be assigned to the appropriate fixed asset category and depreciated in line with the charity depreciation policy. 20-
CAMPHILL MILTON KEYNES COMMUNrrIES UMITED NOTES TO THE FINANCNL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUJVE 2024 Accounting policies (Continued) 1.7 Fixed asset investments Fixed asset investment5 are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel{expenditure) for the year. Transaction costs are expensed as incurred. 1.8 Impairment of fixed assets At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the e)rtent of the impairment loss lif any). 1.9 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete ar)d sell. Cost comprises dirert materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. 1.10 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.11 Financial instruments The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitsble company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financia13ssets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction 15 measured at the present value of the future receipts discounted at a market rate of interest. Financial assets cla55ified as receivable within one year are not amortised. Basic financialliabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is rneasured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost using the effertive interest rate method. Trade creditors are obligations to pay for goods or seNices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transartion price and subsequently measured at amortised cost using the effective interest method. 21
CAMPHILL MILTON KEYNES COMMUNrrIES UMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE2024 Aceounting policies (Continued) Inancialliabilities Derecognitson of f Financial liabilitie5 are derecognised when the charitable companys contractual obligations expire or are discharged or cancelled. 1.12 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee'5 seNices are received. Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Critical accounting estimates and Judgements In the application of the charitable companls accounting policies, the tnjstees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donations and legacies Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts Legacies receivable 158,813 6,158 254,613 413,426 6,158 109,083 10,789 260,514 369,597 10,789 164,971 254,613 419,584 119,872 260,514 380,386 -22-
CAMPHILL MILTON KEYNES COMMUNITIES UMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE2024 Charitable activities F¢e5 and contributKons Cafe and Community workshop Theatre & Hall income Total 2024 Total 2023 Income from charitable activities 4,394,439 171,832 117,818 4,684,089 3,849,397 4,394,439 171,832 117,818 4,684,089 3,849,397 Charitable Activites - Prior Year Detail Income from charitable activities 3,619,180 124,885 105,332 3,849,397 3,619,180 124,885 105,332 3,849,397 Investments 2024 2023 Income from listed investments Interest receivable 12,829 46,718 13,892 15,954 59,547 29,846 All the company's investment income arises from assets held in the UK. -23-
CAMPHILL MILTON KEYNES COMMUNrriES UMITED NOTES TO THE FINANaAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUJVE2024 Other income 2024 2023 Net gain on disposal of tangible fixed assets Other income 352,250 28,696 40,717 40,717 380,946 Raising funds Unrestricted Unrestricted funds funds 2024 2023 Net loss on disposal of assets under construction Other fundraising costs Staff costs 141,067 7,596 101,559 15,538 87,376 Fundraising and publicity 250,222 102,914 Investment management 5,744 5.809 255,966 108,723 The net loss on disposal of assets under construction relates to the write off of costs associated with the Willen Phase I build project, where planning permission ha5 now expired and will need to be re-applied for, along with incurring new costs to be able to continue this projert. -24-
CAMPHILL MILTON KEYNES COMMUNrrIES UMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Charitable activities Community Café & Community workshop Theatre & Hall Total 2024 Total 2023 Staff costs Depreciation Bank charges Community expenses Consumables Insurance Motor and travel Rent, rates, light and heat Repairs and renewals Social and education Miscellaneous Theatre performance costs Loss on disposal of fixed assets 82,376 165,937 130 278,127 563,100 1,610 10,363 655,839 167,547 130 278,127 100,359 37,580 53,761 231,413 50,630 4,971 941 51,520 2,582 608,265 137,460 2,416 254,388 64,121 41,991 60,350 137,087 51,134 4,015 612 39,205 94,990 5,369 37,580 53,761 231,413 38,657 4,971 7,639 4,334 941 51,520 2,582 895,534 668,280 71,586 1,635,400 1,401,044 Share of support costs {see note 101 1,439,561 1,074,254 115,073 2,628,888 2,062,378 2,335,095 1,742,534 186,659 4,264,288 3,463,422 Analysis by fund Unrestricted funds Restricted funds 2,328,012 7,083 1,735,947 6,587 186,659 4,250,618 13,670 2,335,095 1,742,534 186,659 4,264,288 -25-
CAMPHILL MILTON KEYNES COMMUNITIES UMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR EIVDED 30 JUNE2024 Charitsble activities (Continued) Charitable Artivites - Prior Year Comparatives Community Café 8t Community workshop Theatre & Hall Total 2023 Staff costs Depreciation Bank charges Community expenses Consumables Workshop fee- TfSR Insurance Motor and travel Rent, rates, light and heat Repairs and renewals Social and education Miscellaneous Theatre performance costs 66,644 137,004 2,416 254,388 529,582 456 12,039 608,265 137,460 2,416 254,388 64,121 62,851 1,270 41,991 57,312 137,087 27,650 4,015 41,991 60,350 137,087 51,134 4,015 612 39,205 3,038 11,026 12,458 612 39,205 728,507 604,527 68,010 1,401,044 Share of support costs (see note 101 1,077,405 885,368 99,605 2,062,378 1,805,912 1,489,895 167,615 3,463,422 Analysis by fund Unrestricted funds Restricted funds 1,800,482 5,430 1,489,895 6,587 167,615 3,457,992 5,430 1,805,912 1,489,895 167,615 3,463,422 Trustees The Board of Trustees are directors for Companies Act purposes and trustees for Charities Act purposes. Trustees attend quarterly Board meetings plus ad hoc sub-committee and Community meetings. Non-resident members of the Board are able to claim travel expenses for attending meetings. None of the trustees lor any persons connected with them) received any remuneration from the charitable company during the year. No travel expenses (2023.. nil) were claimed by any Trustees 12023.. nil) for the year. -26-
CAMPHILL MILTON KEYNES COMMUNITIES UMITED NOTES TO THE FINANaAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE2024 10 Support & governance costs Type 2024 2023 Staff costs Postage and stationery HFL , Telecom, Sundry Telephone Accountancy seNices Audit Supp Supp Supp Supp Supp Gov'n 2,380,295 5,668 184,741 31,673 12,171 14,340 1,878,451 6,112 135,306 27,029 15,480 2,628,888 2,062,378 Analysis by fund.. Unrestricted funds 2,628,888 2,062,378 -27-
CAMPHILL MILTON KEYNES COMMUNITIES UMrrED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE2024 11 Employees Number of employees The average monthly head count was 122 staff {2023'. 115 stsff).. 2024 Number 2023 Number Office and management Maintenance, Care & Support and other io 105 113 122 115 The average monthly number of full-time equivalent employees (including casual and part-time staff) during the year was: 88 104 Employment costs 2024 2023 Wages and salaries Social security costs Defined contribution pension scheme 2,793,474 233,202 83,606 2,279,980 190,916 71,938 3,110,282 2,542,834 2024 2023 Included within wages & salaries above are Senior Management remuneration amounting to 418,668 446,078 Senior Management remuneration includes gross salary, employers Nl and pension contributions. The number of employees whose annual remuneration {including benefits in kind) was £60,000 or more were.. 2024 Number 2023 Number £60,000 - £70,000 £80,000 - £90,000 -28-
CAMPHILL MILTON KEYNES COMMUNrrIES UMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EJVDED 30 JUNE2024 11 Employees (Continued) Payments and benefits The following community expenses, in addition to living accommodation and other daily essentials, relating to all senior co-workers are included in community expenditure. Total 2024 Total 2023 Other miscellaneous expenses 6,936 9,847 6,936 9,847 12 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 13 Movement in total funds for the year 2024 2023 This is stated after charging.. Auditors, remuneration Audit Accountancy services Depreciation 14,340 12,171 167,547 15,480 137,460 Net movement in funds Dealt with in the accounts of the charitable company 729,133 1,081,176 729,133 1,081,176 14 Net gains/(10$5e5) on investments 2024 2023 Revaluation of investments 45,450 12,746 -29-
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CAMPHILL MILTON KEYNES COMMUNrrIES UMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EJVDED 30 JUIVE2024 16 Stocks 2024 2023 Raw materials and consumables 1,000 1,000 17 Fixed asset investments 2024 Listed investments 2023 Listed investments Cost or valuation Market value at l July 2023 Management costs Income re-invested/lwithdrawn) Net gains/llosses) on investments 515,727 15,7441 12,829 45,450 544,898 {5,809) 136,1081 12,746 Market value at 30 June 2024 568,262 515,727 Historical cost 466,560 454,697 The following holdings COTnpri5e more than 5% of the investment portfolio.. Findlay Park Funds - American Fund Unhedged SPDR Series Trust UK Conventional Government Bonds - 718% Green Gilt 31/07/2033 Edgewood L Select Fund 42,580 68,213 39,903 44,147 35,520 54,809 37,892 25,851 2024 2023 Investments at fair value comprise.. Investments held within the UK Investments held outside the UK 271,927 296,335 306,299 209,428 568,262 515,727 18 Debtors Company and Group 2024 2023 Amounts falling due within one year. Trade debtors Other debtors Prepayments and accrued income 243,203 461,504 38,675 111,323 80,167 34,218 743,382 225,708 31
CAMPHILL MILTON KEYNES COMMUNITIES UMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUJVE2024 19 Creditors: amounts falling due viithin one year Group 2024 Company 2024 Group 2023 Company 2023 Notes Other taxation and social security Deferred income Trade creditors Amounts due to subsidiary undertakings Other creditors Accruals and deferred income 72,260 58,691 417,575 72,260 58,691 417,575 59,958 74,030 75,474 59,958 74,030 75,474 20 97,992 49,909 97,992 49,909 92,160 84,237 92,160 84,237 696,427 696,429 385,859 385,861 20 Deferred income Deferred income relates to the Community theatre (invoiced hire with a booking date after year endl. The movement for the year is as follows.. 2024 2023 Balance held l July Invoiced during the year Released to SOFA during the year 74,030 101,979 {117,3181 31,428 141,386 198,7841 Balance held 30 June 58,691 74.030 The balance at year end relates to bookings that will be released within six months of the year end. 32-
CAMPHILL MILTON KEYNES COMMUNrriES UMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE2024 21 Restricted funds The restricted funds of the charitable company comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Movement in funds Balance at I Income & Expenditure Balance at 30 July 2023 gains June 2024 Elder Care Project The Mark Skinner Fund Capital Development Project Other Restricted Grants 32,263 95,716 220,000 35,084 32,263 95,716 470,000 26,027 250,000 4,613 113,6701 Total restricted funds 383,063 254,613 {13,6701 624,IJ06 Elder Care Project the care and support of an ageing resident population is a central strategic issue for the Community impacting service delivery, staffing & facilities. The charity is grateful for this donation to as51St fund the project. The Mark Skinner Fund- to provide funding for members of the community to engage in activities they may not be able to due to their financial circumstsnce. The charity is grateful for this legacy from our founding resident. Capital Development Project - funding received from the below donors towards the redevelopment projert being undertaken by the charitable company. Garfield Weston £200,000 (received in 20231 Anson Charitable Trust - £20,000 (received in 20231 The Edward Gosling Foundation - £lOO,000 The Wolfson Foundation - £lOO,000 Bernard Sunley Foundation - £40,000 The 29th May 1961 Charitable Trust - £10,000 Other Restricted Funds various grants and donations received for specific purposes in relation to improvements in the Community. Restricted funds - Prior Year Detsil Movement in funds Balance at I Income & Expenditure Balance at 30 July 2022 gains June 2023 Elder Care Project The Mark Skinner Fund Capital Development Project Other Restricted Grants 32,263 95,716 32,263 95,716 220,000 35,084 220,000 40,514 {5,430) Total restricted funds 127,979 260,514 15,430) 383,063 -33-
CAMPHILL MILTON KEYNES COMMUNITIES UMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30JUNE2024 22 Unrestricted funds The unrestrirted funds of the charitable company comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors a5 to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. Movement in funds Income Expenditure Transfers Balance at I July 2023 Gains and Balance at 30 losses June 2024 Designated funds Co-worker Fund Revaluation ReSee Build Project 101,471 61,030 700,000 101,471 IOL,702 700,000 (4,7781 45,450 General unrestricted funds 4,355,279 4,949,324 14,506,584) 4,778 4,802,797 Total unrestricted funds 5,217,780 4,949,324 (4,506,584) 45,450 5,705,970 Purpose of Designated Funds Co-worker fund (formerly the Social Fund) to provide financial 5UPPOrt for long serving voluntary co- workers on retirement and/or leaving the Community together with other deserving social needs consistent with the aims and objectives ofthe Camphill Movement. Revaluation ReseNe the accumulated value of unrealised gains of the charitable company's investments. Build Fund to contribute to the ongoing build projert. -34-
CAMPHILL MILTON KEYNES COMMUNrrIES UMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE2024 22 Unrestricted funds (Continued) Unrestricted funds - Prior Year Detsil Movement in funds Income Expenditure Transfers Balance at I July 2022 Gains and Balance at 30 losses June 2023 Designated funds Co-worker Fund Revaluation ReseNe Build Project 101,471 63,997 700,000 101,471 61,030 700,000 (15,7131 12,746 General unrestricted funds 3,526,220 4,380,061 {3,566,7151 15,713 4,355,279 Total unrestricted funds 4,391,688 4,380,061 13,566,715) 12,746 5,217,780 23 Analysis of net a55ets between funds Unrestricted funds Restrirted funds Total Fund balances at 30 June 2024 are represented by.. Tangible assets Investments Current assets/{liabilitiesl 3,572,566 568,262 1,565,142 3,572,566 568,262 2,189,148 624,006 5,705,970 624,006 6,329,976 Analysls of net a55ets between funds - Prior Year Detail Unrestricted funds Restricted funds Total Fund balances at 30 June 2023 are represented by.. Tangible assets Investments Current assets/lliabilities) 2,724,563 515,727 1,977,490 2,724,563 515,727 2,360,553 383,063 5,217,780 383,063 5,600,843 -35-
CAMPHXLL MILTON KEYNES COMMUNMES UMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE2024 24 Operating lease commitments - Group and Cornpany At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating lease5, which fall due as follows.. 2024 2023 Within one year Between two and five years 20,400 75,820 96,220 The amounts recognised as an expense during the year in respect of operating lease arrangements was £5,780 12023 - £9,130). 25 Capital ¢ommitments As at 30 June 2024, the charitable company had outstanding contractual commitments with Watson & Cox Ltd totalling £2,016,109 12023: nill. As at 30 June 2024, the charitable company had outstanding contractual commitments with Stellar Building Consultancy Ltd totalling £31,740 {2023'. £80,640}. As at 30 June 2024, the charitable company had outstanding contractual commitments with Devonshire Architects totalling £53,162 {2023.' nill. The above contracts have been entered into in relation to the redevelopment projert being undertaken by the charitable company for which planning permission has been received, with amounts capitalised shown within assets under construction. The charitable company is funding these commitments through a combination of designated reseNes, restricted grants received for capital expenditure, and external borrowings. -36-
CAMPHILL MILTON KEYNES COMMUNITIES UMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE2024 26 Related party transactions Transactions with related parties During the year the charitable company entered into the following transactions with related parties: 111 CMKC Chief Executive Officer, Tim Davies is a dirertor of Carnphill Insurance Agency Ltd. The company was formed by the Association of Camphill Communities -AoCC" its Board comprising representatives from member communities. The company partners with the AOCC Community members, insurance broker to ensure the best value for money insurance cover is sourced. CMKC'S CEO attends occasional meetings, any expenses being met by the company. 121 During the year, the charitable company provided funding of £nil 12023-. £nill to Tools for Self Reliance (Milton Keynes), TfSR managing a resident workshop. D Peddle. former Company Secretary of CMKC and J MoffooL Trustee of CMKC are Trustees of TfSR. In addition to this, TfSR paid £nil12023: £nil) in relation to the secondment of CMKC staff. As of 1st April 2022, CMKC have a partnership agreement in place with TfSR for the shared use of the Michael's Akyre premises. CMKC are responsible for providing and managing the day seNice provision, at its own cost and providing sufficiently trained staff to carry out the TfSR activity- Other than the agreed recharge of costs in relation to tools refurbishment activities, there is no monetary exchange for this shared activity. 131 Training Manager, Marija TLtdor is partner to the owner/director of Grant IT Ltd, the company providing IT consultancy to the charity. During the year the charity spent £31,867 12023.. £23,328), of which £6,265 (2023.. £nil) remains outstanding at the year end. 14} During the year, the charitable company paid Stellar Building Consultancy £38,940 12023.. £66,873) in relation to consultancy advice regarding the development project, of which £4.980 {2023'. £5,400) remains outstanding at the year end. E Bradley, Trustee of CMKC is a Director of Stellar Building Consultsncy Ltd. 15} During the year, the charitable company paid Stellar Developments IUKI £4,996 12023.. £nil} in relation to repairs work regarding the development project, of which £nil 12023: £nill remains outstanding at the year end. E Bradley, Trustee of CMKC is a Director of Stellar Building Consultancy Ltd. 16) Trustee, lan Revell is CEO of Milton Keynes Cornmunity Foundation, an independent charity from which the charitable company received £nil12023- £25,000) in grant income during the year. The total amount received to date of £50,000 12023.. £50,000) is included in deferred income at the year end. This forms two of three instalments from the Margaret Powell Community 1st fund, in relation to the development project. 27 Events after the reporting date In October 2024, the charitable company entered into a loan agreement with CAF bank for the sum of £1,550,000. The loan carries an interest rate of 2.5% per annum above the Bank of England base rate, and repayments are due in equal monthly instalments over 25 years from the first repayment date. The loan was secured to fund the charitable company's ongoing development proje¢ which is currently presented in assets under constNction. The loan is secured by a legal mortgage and fixed charge over the charitable company's propety at Japonica Lane, Willen Park, Milton Keynes, MK15 9JY. -37-
CAMPHILL MILTON KEYNES COMMUNITIES UMITED NOTES TO THE FINANaAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE2024 28 Subsidiari Details of the charitable company's subsidiaries at 30 June 2024 are as follows.. Name of undertaking Registered office Nature of business Class of shares held % Held Direct Indirect Camphill Contracts (Milton Japonica Lane, Keynes) Limited 02009707 Willen Park South, Milton Keynes, MK16 9JY Non-trading subsidiary Ordinary loo.00 The company's wholly owned subsidiary, Camphill Contratts {Milton Keynes) Limited I'camphill Contracts'}, ceased trading at the end of June 2008. Accounts (not audited) have been filed with the Registrar of Companies. 2024 and 2023 Summary profit and loss account Turnover Cost of sales Gross Ilossl/profit Administrative expenses Interest payable Net (lossl/profit before tax Taxation ILoss)/profit for the year The assets and liabilitie5 of the subsidiary were.. Fixed assets Current assets Creditors.. amounts falling due within one year Aggregate share capital and reseNes -38-
CAMPHILL MILTON KEYNES COMMUNITIES UMrrED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 29 Cash generated from operations 2024 2023 Surplus for the year 729,133 1,081,176 Adjustments for.. Investment income recognised in statement of financial activities Loss/{gainl on disposal of tangible fixed assets Fair value gains and losses on investments Investment manager fees Depreciation and impairment of tangible fixed assets 159,547) 143,649 (41,047) 15,7441 167,547 (29,8461 1352,2501 112,7461 15,809) 137,460 Movements in working capital.. Uncrease)/decrease in debtors Increase in creditors {Decreasel/increase in deferred income {517,674} 325,907 115,339) 2,100 84,488 42,602 Cash generated from operations 726,885 947,175 -39-