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2025-03-31-accounts

MISSION CARE

ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Registered Charity Number: 284967

MISSION CARE

ANNUAL REPORT

FOR THE YEAR ENDED

31 MARCH 2025

Contents Page
Reference and Administrative Information
Board Report 1-6
Independent Auditor’s Report 7-9
Consolidated Statement of Financial Activities 10
Statement of Financial Activities 11
Consolidated Balance Sheet 12
Charity Balance Sheet 13
Consolidated Cash Flow Statement 14
Notes to the Financial Statements 15-24

MISSION CARE

REFERENCE AND ADMINISTRATIVE INFORMATION

Chairman Mr G Dean
Corporate Trustee Mission Care Management Limited
Directors of Mission Care Management Limited
Mr G Dean
Mr M Jones
Ms A Honeysett (resigned 16 December 2024)
Mr P Martin (resigned 17 November 2024)
Mr A Surgenor
Executive Director Mr D Evans
Auditor Xeinadin Audit Limited
5 Robin Hood Lane
Sutton
Surrey SM1 2SW
Solicitors Anthony Collins Solicitors LLP
134 Edmund Street
Birmingham
B3 2ES
Bankers National Westminster Bank plc
201 Tooley Street
London
SE1 2UE
Head Office Langford House, 7-7A High Street
Chislehurst
Kent BR7 5AB
Charity Registration Number 284967

MISSION CARE

BOARD REPORT

The Board of the Corporate Trustee of Mission Care has pleasure in submitting the Annual Report and Financial Statements for the year ended 31 March 2025 which have been prepared in accordance with Charities Act 2011, the Charities’ Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102).

Objects and activities

Mission Care was founded in 1904 as the Bermondsey Medical Mission. It is a charity operating in South East London. Mission Care aims to advance the Christian faith through the relief of sickness and poverty and through care and support of people with disabilities and elderly people, principally by the operation of a number of care homes, both nursing and residential.

Structure, governance and management

Mission Care is an unincorporated association which is governed by a corporate trustee, Mission Care Management Limited (Company Registration Number 3732148).

The key management personnel of the charity are considered to be the Senior Management Team. This team is comprised of the Chief Executive (Mr D Evans), the Clinical Director (Mr R Manuel), the Pastoral Director (Mrs F Wantenaar), and the Finance Director (Mrs H Fan). They are in charge of directing, controlling, running and operating the charity on a day to day basis. The Trustee Board (the Directors of the Corporate Trustee) give of their time freely and none of the Trustee Board received any remuneration in the year.

The pay of senior staff and all staff at Mission Care is reviewed annually and is normally increased in accordance with average earnings. Pay awards are based on small incremental percentage increases in accordance with good financial stewardship, and we informally benchmark our salaries in the market from time to time.

Procedures for inducting and training

Training for the directors of the Corporate Trustee is offered and has been carried out as required and covers a range of issues including governance and inspections of the homes. A full, independent governance review has been undertaken on behalf of Mission Care in 2023. The outcome was very positive with some helpful recommendations that have been implemented, including governance training for trustees and senior managers.

Risk

The Board continues to monitor and consider the major risks to which the charity is exposed and is satisfied that systems are in place to monitor and minimise them. At present we have identified the risks posed to the charity as follows: (a) on-going funding of the delivery of care both within and outside the London Borough of Bromley; (b) satisfactory and positive outcome by CQC inspection of our services; and (c) the cost of and involvement in the management of a significant number of paid staff in our employment.

The risks in relation to the on-going funding of the delivery care are sector wide and driven largely by central and local Government policy. It has been an incredibly challenging time to operate care homes over recent years. There is enormous pressure on average fee levels, budgetary challenges, increased costs associated inflation and market volatility, as well as ever-changing regulatory and stakeholder requirements. However, Mission Care manages the risk by ensuring regular communication with their principal local authority and CCG commissioners in respect of fee levels and grant fundings. There is a strong track record of Mission Care actively and positively negotiating with the local authority in securing the required levels of funding in recent years.

Page 1

MISSION CARE

BOARD REPORT (continued)

Mission Care continues to invest in improving and developing its clinical governance and audit processes. The Management Team at Mission Care carries out the monthly quality monitoring visits, and quarterly night visits across all homes not only to ensure full compliance and quality of care are met but also aim to achieve the highest standard of care provided to the residents in all aspects. The clinical team also meet regularly internally for quality assurance review and externally with other care homes in the local area to share the best practice and learn from each other. Additionally, Mission Care engage with external auditors to carry out independent reviews every one or two years to gather evaluations and feedback and to identify areas for improvements.

During this financial year, we have seen continued development and progress within our wider management team, including a newly appointed home manager at Willett House, and a new Business Support Manager. We have also successfully reduced staff vacancies significantly during the year through overseas sponsorship programme, internal promotion as well as an improved recruitment process. Mission Care continues to grow its own strategy with regard to staff recruitment and retention. There had been consistent improvement and stability throughout the Mission Care homes. Over the years, our teams have become more cohesive, achieving higher levels of performance.

Achievements, performance and commercial review

From an operational point of view, there have been some key achievements from the group during the financial year.

In FY24/25, the Senior Management Team decided to roll out a phased refurbishment project to gradually upgrade the facilities and environment across all homes. Phase 1 took place during the autumn of 2024. Both Greenhill and Elmwood, two of our largest homes, have gone through a major refurbishment improvement project. All of the communal areas, including lounges, dining rooms, kitchens and receptions as well as staff room have received a new look which transformed the homes’ environment to be much more modern and stylish. The resident, relative and staff welcomed this uplifting change. This had also brought positive impact on new enquiries and referrals.

Towards to the end of the financial year, Phase 2 of the improvement project also commissioned. The residents, families and staff benefited from the newly refurbished lounges and kitchen areas at Willett House. Similarly, new kitchens were installed at the lounges in Homefield.

Over to the home in Southwark, since the merger of The Elms in January 2023, the onboarding process had been going exceptionally well. Occupancy is averaged at over 90% for the year. The home management team at The Elms, with the support from the Senior Management Team, had implemented many improvements in key areas such as rota management, quality monitoring audit, care plan documentation as well as pastoral care and activities. At the point of writing, the home had also just completed its refurbishment project which provided the residents with a new lounge and a new garden. The feedback we received from the residents and families are overwhelmingly positive. The home is still waiting for a CQC inspection. The current CQC report rating published online was related to the previous operator.

Another key development project for the Charity was Love Walk, a former residential home of 30 beds based in Southwark. It is currently going through planning phase to rebuild a new care home at the existing site. This new home once built will be able to provide 62 beds to residents with nursing care need in the local area. It will help relieve the pressure of the current storage on care provisions in Southwark. The Council had expressed strong interests to support the project. The Charity is working closely with the Council to move along the project in a timely manner.

Commercially, our trading performance this year has been encouraging, thanks to the strong occupancy throughout the year and our positive relationship with the local authorities in the areas in which we operate. Occupancy across all homes were averaged at 94.4% during the course of FY24/25. A balance approach was taken for the fee level. Due to the significant funding shortage the Charity experienced in previous years,

Page 2

MISSION CARE

BOARD REPORT (continued)

Achievements, performance and commercial review (continued)

it was clear that a fee review was needed to achieve a more sustainable financial model. Through balanced funding mix, the Charity manage to increase the average fee level across the board, and generated the income needed to meet the increased cost base.

Challenges remain in areas such as shortfall on government funding for residents who were admitted in the last few years. The average fee uplift year on year by local authorities and CCGs were between 1% - 4%, with a few local authorities offering no uplift at all. On the contrary, the National Living Wage had gone up by 9.8% in 2024. Inflation also impacted heavily on many care/medical products resulting in a challenging economic environment for care providers. The Charity has been revisiting our commercials strategy regularly in respond to the changing economic landscape, and thankfully we have made some good progress in achieving a reasonable fee level at the point of writing, whilst maintaining the stability in occupancy, consistency in staffing, and high standard of care in all aspects.

From clinical and care point of view, it was also observed that the care needs of newly admitted residents over the recent years are much higher compared to a few years ago, therefore more pressure on care providers to increase staffing ratio to meet the needs of the residents. Recruitments remained a challenging factor in the care sector, as a result, the usage of agency staff was inevitable. This issue partially was overcome by our overseas sponsorship program which helped resourcing good quality staff from other countries.

Although the challenges are ongoing, the Charity had maintained its good quality of care and service across all homes, with enhanced measurements on quality assurance. All homes received incredible positive customer feedback during the annual Residents and Relative Survey as well as on Carehome.co.uk. The CQC rating for Elmwood, Greenhill and Willett House remained to be Good. Homefield is waiting for a CQC inspection to review its current rating which was disagreed by the Charity.

Overall, all homes demonstrated a great level of stability and resilience to changes during the year. This is a reflection of the hard work and dedication of every member of staff working at this organisation. Mostly important, we give thanks to God for His provision and goodness to Mission Care.

Financial Performance

The consolidated EBITDA for the group including Mission Care Trading was £2.3m, and net profit after considering depreciation and finance costs was £1.1m.

Consolidated income for the year was £17.6m (2024: £15,351k). This includes income from the core charity £17.5m, and the trading subsidiary £80k.

Income from the core charity includes income from charitable activities, legacy and donations. Income from the charitable activity for the year was up by £2.1m comparing to prior year (2024: £15,351k). This increase on income was primarily due to the increased fee level for spot placements and self funders.

The main source of fee income for the charity remains the local government authorities. As at 31[st] March 2025, around 75% of our residents were funded by local authorities including Bromley, Lewisham, and Southwark, and some were funded directly by CCGs. The remaining were self-funded residents. The number of self funders also increased to 63 compared same as prior year, this includes the residents from The Elms.

Consolidated expenditure for the year was £16,274k (2024: £16,002k). This includes expenditure from both the charity £16,165k and the trading subsidiary of £87k.

The expenditure for the charity activities was £16,191k, £331k higher than prior year (2024: £15,860k).

Page 3

MISSION CARE

BOARD REPORT (continued)

Financial performance (continued)

This year the Charity reinvested over £1M into the Homes on various improvement projects. Over the last 3 years, total accumulated capital spend on the Homes was over £3m. Major projects this year include Greenhill and Elmwood communal area refurbishments, Head Office relocation, Willett House lounge upgrade, Greenhill lift refurbishment and Fire doors, together with other clinical facilities and equipment. These projects had further equipped the homes with high standard of health and safety controls, as well as improved care and services provided to the residents.

Despite various challenges, it was clear that Mission Care’s financial resilience has grown over the last three years. The ongoing discussion with Local Authorities on funding, strong partnership with agencies and contractors, and good stewardship from management team have all helped to equip us to be able to continue to fulfil our objectives whilst responding and adapting to the everchanging landscape of care sector.

As we prepare for the next phase of the work of Mission Care, we are mindful of the progress we have made, and of the challenges we are likely to face. The opportunities and challenges for good quality care providers will remain the same in some respects, but in others will become pronounced. As we review the period from 2020 to date, we can see how Mission Care has grown and developed in many ways. We are very thankful to be able to observe this, to play a part in it, and above all, to give all the thanks and glory to our great God.

Reserves Policy

Mission Care is very careful to designate or allocate funds it receives. Voluntary donations received from the general public and from supporters of Mission Care and any grants awarded by trusts and government agencies for equipment, services or building construction are designated or allocated wherever possible according to the wishes of the donor or grantor.

The free reserves of Mission Care have been utilised over the last few years to improve the quality of the charity’s buildings and to carry out various essential restructuring projects. It remains the intention of Mission Care to significantly build up the reserves over the next few years to both protect the organisation against any potential adverse trading conditions as well as to facilitate future improvements to the buildings. To this end every effort continues to be made in order to maximise income, carefully manage expenditure and control cash flow.

At the year end, the charity had consolidated reserves of £7,781k of which £1,507k was restricted. The charity had total reserves of £7,781k.

Investment policy

Over recent years the surpluses have been used to improve the homes infrastructure and environment.

As at 31[st] March 2025, other than balances held at Samaritan Fund and Love Walk restricted fund, there are no investments outside of cash balances held in regular bank accounts.

Principal Funding sources

The significant majority of Mission Care’s funding in recent years has been received from local authority contracts and, in particular, the contract with the London Borough of Bromley. The funding received is in respect of fees paid for care services provided. The NHS, through a number of CCGs, is also a significant source of funding, again by way of fees paid for care services provided.

Mission Care Trading Ltd

This subsidiary company has been included in the consolidated financial statements and was in an operating deficit at the year end. The company continued its operation of running the charity shop Brix.

Page 4

MISSION CARE

BOARD REPORT (continued)

Public benefit

When reviewing Mission Care’s activities for the past year and in planning the objectives for future periods, the Board have taken into consideration the Charity Commission’s guidance on public benefit.

Mission Care is committed to ensuring that there is access to its services regardless of individuals’ social standing or ability to pay. It does this through maintaining strong relationships with relevant local authority and active marketing of its services in the wider community. Approximately 80% of Mission Care’s residents benefit from socially funded places that are offered under discounted block and spot contracts.

Through its support of an international project Mission Care is able to help a partner organisation, Vuyiroli, (in India). It seeks to alleviate sickness and poverty in the community in Chennai, India, in which it works.

As part of the care Mission Care provides, it is able to offer people opportunities to explore and experience the Christian faith. Much of what it delivers is well supported through its own Pastoral Team as well as partnerships with many local churches. Its international work has all been carried out in partnership with other organisations who share a similar desire to advance the Christian faith.

Plans for future periods

Mission Care continues to focus on strengthening the core business of the charity and ensuring that it is well placed to maintain and develop its delivery of care services into the changing marketplace. As set out in the charity’s five year strategic plan for financial year 20-25, the three overarching objectives are to Protect, Progress and Proclaim.

Protect the organisation from financial and existential pressures in order to maintain the service that Mission Care provides in the communities in which it is placed. This is not a negative reflex. Rather, it is an honest acknowledgement of the very challenging nature of the sectors in which Mission Care operates, as a Christian charity providing care to vulnerable adults.

The need to protect the organisation has always been apparent, and never more so than now. The global Covid 19 pandemic that has had such a devastating impact on the care sector in the UK this year. It has demonstrated further the clear imperative to protect the work and best interests of care providers. Protecting the organisation will remain therefore a resolute aim as we seek to bring glory to God through the work, witness, and reputation of Mission Care.

Progress the organisation both in terms of the quality of the service we provide, and the number of people for whom we care. This has been a consistent ambition throughout our history. Firstly, to be committed to continuous improvement in the delivery of care and management of the organisation. Secondly, to seek to care for and reach more and more people each year.

Proclaim the Lord Jesus Christ in all that we do. This is the very reason that Mission Care exists and always has been, since 1904. We primarily seek to proclaim Jesus Christ through our commitment to the following:-

Page 5

MISSION CARE

BOARD REPORT (continued)

Plans for future periods (continued)

Much progress has been made on these three core elements over the last few years and we expect this to continue in the period ahead.

The trustee is grateful to all the Board Directors, to our Chief Executive and the Senior Management and Leadership Teams and their staff for their continuing dedication and commitment to the care of each of the vulnerable people entrusted to us.

We are committed to developing our services at this time of considerable change and in this we seek God’s guidance and would ask for the prayerful support of all our friends and colleagues.

A new Strategic Plan for the period 2025 – 30 has been signed off this year. It is a plan for growth, both in respect of the quality of the service we seek to provide, and in increasing the number of residents we care for.

Statement of trustee responsibilities

The trustee is responsible for preparing the Council Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustee is required to:

The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Mr G Dean Chairman

18 November 2025

Page 6

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEE OF MISSION CARE

Opinion

We have audited the financial statements of Mission Care (the “Charity”) and its subsidiary (the group) for the year ended 31 March 2025 which comprise the consolidated and parent statement of financial activities, the consolidated and parent balance sheets, the consolidated cash flow statement and notes to the financial statements, 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 Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

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 group and parent Charity 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.

Financial statements prepared on a basis other than going concern

We draw attention to note 1 which explains that, as a consequence of the transfer of the assets and liabilities of the charity to a charitable company on 30 May 2025, the charity is no longer considered to be a going concern. The note explains that the financial statements have therefore been prepared on a basis other than that of a going concern, albeit with the expectation of continuing its activities as a charitable company. The note also explains the expected impact of the use of the alternative basis on the financial statements. Our opinion is not modified in this respect.

Our responsibilities and the responsibilities of the trustee with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, including the trustees’ 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, except to the extent otherwise explicitly stated in our report, 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 otherwise 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 statements 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.

Page 7

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEE OF MISSION CARE (continued)

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 audit, we have not identified material misstatements in the trustees’ report included within 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 the trustee

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 they 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 Group’s and the Charity’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 Group or Charity 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 151 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 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charity, we identified that the principal risks of non-compliance with laws and regulations related to employment and breach of health & safety regulations and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011.

Page 8

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEE OF MISSION CARE (continued)

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management, considering the internal controls in place and discussion amongst the engagement team.

We determined that the principal risks were related to:

In response to the risks identified we designed procedures which included, but were not limited to:

There are inherent limitations in the 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. 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 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.

Use of our report

This report is made solely to the Charity’s and group’s trustee, as a body, in accordance Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity’s and group’s trustee 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 charity and group and their trustee as a body, for our audit work, for this report, or for the opinions we have formed.

Xeinadin Audit Limited
Statutory Auditor 5 Robin Hood Lane
Chartered Accountants Sutton
Surrey
24/11/2025 SM1 2SW

24/11/2025

......................... Xeinadin Audit Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006

Page 9

MISSION CARE

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Notes
Income from:
Donations and legacies
2
Other trading activities
3
Investments
4
Charitable activities
Residential care fees
Other income

Total income
Expenditure on:
Raising funds
5
Charitable activities
Residential care costs
6
Total expenditure
(Losses)/gains on investment assets
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
Funds brought forward
Funds carried forward		 Unrestricted
Funds
£
176,863
80,663
70,188
17,193,136
1,066
17,521,916
82,974
16,185,125
16,268,099
( 2,709)
1,251,108
-
1,251,108
5,023,169
6,274,277		 Restricted
Total
Funds
2025
£
£
45,000
221,863
-
80,663
-
70,188
- 17,193,136
- 1,066
45,000 17,566,916
-
82,974
5,496 16,190,621
5,496 16,273,595
-
( 2,709)
39,504 1,290,612
-
-
39,504 1,290,612
1,467,064
6,490,233
1,506,568
7,780,845		 Unrestricted
Funds
£
123,771
84,395
4,294
15,112,050
520
15,325,030
141,908
15,856,242
15,998,150

4,892
(668,228)
-
(668,228)
5,691,397
5,023,169
Restricted
Total
Funds
2024
£
£
-
123,771
-
84,395
-
4,294
- 15,112,050
25,880
26,400
25,880 15,350,910
-
141,908
4,106 15,860,348
4,106 16,002,256
317
5,209
22,091
(646,137)
-
-
22,091
(646,137)
1,444,973
7,136,370
1,467,064
6,490,233

Page 10

MISSION CARE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Notes
Income from:
Donations and legacies
2
Investments
4
Charitable activities
Residential care fees
Other income
Total income

Expenditure on:
Charitable activities
Residential care costs
Other expenditure
Total expenditure
(Losses)/gains on investment assets
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
Funds brought forward
Funds carried forward		 Unrestricted
Funds
£
176,863
70,188
17,193,136
1,066
17,441,253
16,180,807
( 21,113)
16,159,694
( 2,709)
1,278,850
-
1,278,850
4,976,205
6,255,055		 Restricted
Total
Unrestricted

Funds
2025
Funds
£
£
£
45,000
221,863
123,771
-
70,188
4,294
- 17,193,136
15,112,050
- 1,066
520
45,000 17,486,253
15,240,635
5,496 16,186,303
15,817,794
- ( 21,113)
106,525
5,496 16,165,190
15,924,319
-
( 2,709)
4,892
39,504
1,318,354
(678,792)
-
-
-
39,504 1,318,354
(678,792)
1,467,064 6,443,269
5,654,997
1,506,568
7,761,623
4,976,205		 Restricted
Total
Funds
2024
£
£
-
123,771
-
4,294
- 15,112,050
25,880 26,400
25,880 15,266,515
4,106 15,821,900
- 106,525
4,106 15,928,425
317
5,209
22,091
(656,701)
-
-
22,091
(656,701)
1,444,973 7,099,970
1,467,064 6,443,269

Page 11

MISSION CARE

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025

Fixed assets
Tangible fixed assets
10a
Investment assets
11
Current assets
Stocks
Debtors
12a
Cash at bank and in hand
Creditors:amounts falling due within
one year
13a
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
14a
Net assets
Funds
Unrestricted
15
Restricted
16		 2025
£
£
11,004,100
55,438
11,059,538
8,351
4,094,505
2,306,507
6,409,363
2,526,046
3,883,317
14,942,855
(7,162,010)
7,780,845
6,274,277
1,506,568
7,780,845		 2024
£
£
10,610,221
58,147
10,668,368
8,351
3,167,901
547,141
3,723,393
2,275,480
1,447,913
12,116,281
(5,626,048)
6,490,233
5,023,169
1,467,064
6,490,233

The financial statements were approved by the Trustee on 18 November 2025 and signed on its behalf by:

Mr G Dean

Chairman

Page 12

MISSION CARE

BALANCE SHEET AS AT 31 MARCH 2025

Fixed assets
Tangible fixed assets
10b
Investment assets
11
Current assets
Stocks
Debtors
12b
Cash at bank and in hand
Creditors:amounts falling due within
one year
13b
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
14b
Net assets
Funds
Unrestricted
Restricted
16		 2025
£
£
11,003,948
55,439
11,059,387
7,951
4,078,768
2,297,437
6,384,156
2,519,910
3,864,246
14,923,633
(7,162,010)
7,761,623
6,255,055
1,506,568
7,761,623		 2024
£
£
10,609,921
58,148
10,668,069
7,951
3,141,349
520,015
3,669,315
2,268,067
1,401,248
12,069,317
(5,626,048)
6,443,269
4,976,205
1,467,064
6,443,269

The financial statements were approved by the Trustee on 18 November 2025 and signed on its behalf by:

Mr G Dean

Chairman

Page 13

MISSION CARE

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

2025
£
Cash flows from operating activities (see note (a) below)
1,785,131
Cash flows from investing activities
Interest receivable
70,188
Interest paid
( 497,617)
Proceeds on sale of investments
-
Payments to acquire tangible fixed assets
(1,032,990)
Proceeds on sale of tangible fixed assets
-
Net cash (used in)/provided by investing activities
(1,460,419)
Cash flows from financing activities
Loans repaid
(531,609)
Cash inflows from new borrowing
2,000,000
Payments to reduce finance lease liabilities
( 33,737)
Cash provided by/(used in) financing activities
1,434,654
Net cash inflow/(outflow)
1,759,366

Cash and cash equivalents at 1 April 2024
547,141
Cash and cash equivalents at 31 March 2025
2,306,507
(a) Reconciliation of net income to net cash flow from operating activities
Net income/(expenditure)
1,290,612
Interest receivable
( 70,188)
Interest paid
497,617
Depreciation
693,001
Gains/(losses) on disposal of fixed assets
612
Gains/(losses) on investments
2,709
Increase in debtors
( 926,604)
Increase in creditors
297,372
Decrease in stock
-
Net cash provided by operating activities
1,785,131		 2024
£
6,117
4,294
(435,610)
11,571
(329,977)
775,880
26,158
(301,418)
-
( 28,580)
(329,998)
(297,723)
844,864
547,141
(718,724)
( 4,294)
435,610
686,984
(25,880)
(5,209)
(417,104)
56,653
( 1,919)
6,117

(b) Analysis of changes in net debt

Analysis of changes in net debt
At 1 April Cash Non-cash At 31 March
2024 flows changes 2025
£ £ £ £
Cash 547,141 1,759,366 - 2,306,507
Loans falling due within one year (334,662) (1,468,391) 1,538,659 (264,394)
Loans falling due after more than
one year (5,539,747) - (1,538,659) (7,078,406)
Finance lease obligations ( 115,954) 33,737 ( 54,502) ( 136,719)
Total (5,443,222) 324,712 ( 54,502) (5,173,012)

Page 14

MISSION CARE

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

1 ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investments, and in accordance with applicable accounting standards, Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102) and the Charities Act 2011.

Mission Care is a public benefit entity and an unincorporated charity with its principal address at Langford House, 7-7A High St, Chistlehurst, Kent, BR7 5AB. The financial statements are the consolidated position of Mission Care and its subsidiary company Mission Care Trading Ltd. The financial statements have been prepared in pounds and figures have been rounded to the nearest pound.

Going concern

The trustee approved the transfer of the assets and liabilities of the charity to Mission Care Management from 30 May 2025. As a consequence, the continuing activities of the unincorporated charity have ceased from the date of transfer although the activities of the charity have continued under the new incorporated charity. The unincorporated charity is therefore no longer considered to be a going concern. The financial statements have therefore been prepared on a basis other than that of a going concern.

After reviewing the forecasts and projections of the new charity, the Trustee has a reasonable expectation that the new charity has adequate resources to continue in operational existence for the foreseeable future. The incorporation event has therefore not resulted in any significant change to the presentation, classification or valuation of the related assets and liabilities.

Tangible fixed assets

Fixed assets are depreciated on a straight line basis at rates dependent on their expected lives. Depreciation rates commencing from the date of first use are as follows:

Freehold nursing homes 2% of cost Motor vehicles 25% of cost Computer equipment 33% of cost Fixed plant 10-33% of cost Office equipment and furniture 25% of cost

Fixed asset investments

Investments are stated at bid value. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals during the year.

Fund accounting

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

Designated funds comprise unrestricted funds that have been set aside by the trustee for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or which have been raised by the charity for specific purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 15

MISSION CARE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

1 ACCOUNTING POLICIES (continued)

Income

All income is accounted for on an accruals basis except for voluntary income which is accounted for when received. Gifts in kind received in the shop are recognised when sold. Gifts in kind are valued at estimated open market value at the date of the gift in the case of assets for retention or consumption.

Taxation status

Mission Care is not subject to corporation tax and is not registered for VAT.

Fund raising

Mission Care does not engage in any professional fund raising activity. Therefore, no fund raising costs are identified in the Statement of Financial Activities.

Support Centre costs are allocated between governance costs of administering the charity and charitable expenditure in support of the nursing homes. These costs are allocated on the basis of time spent and resources expended.

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to a category.

Governance costs

Governance costs are those costs associated with meeting the constitutional and statutory requirements of the charity and include auditors’ fees and costs linked to the strategic management of the charity. These have been allocated directly to charitable expenditure.

Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Debtors

Other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

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 opening of the deposit .

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

Stocks

Catering stocks are included at cost.

Page 16

MISSION CARE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

1 ACCOUNTING POLICIES (continued)

Pension scheme

Mission Care contributes to a number of defined contribution pension schemes. The assets of the schemes are held separately from the charity in independently administered funds. Contributions are accounted for as they fall due.

Mission Care also contributes to one defined benefit pension scheme. This is a multi-employer scheme where Mission Care cannot identify its share of the assets and liabilities of the scheme on a reasonable and consistent basis and therefore, as required by FRS102, accounts for the scheme as if it were a defined contribution scheme. The charity’s contributions are charged in the period to which the salaries they relate are payable.

2
DONATIONS AND LEGACIES
Support Centre
Legacies
3
OTHER TRADING ACTIVITIES
Charity shop
4
INVESTMENT INCOME
Income from listed investments
Interest on cash deposits
5
RAISING FUNDS
Café
Charity shop
6
CHARITABLE ACTIVITIES
Staff costs
Depreciation
Other		 Direct Costs
£
10,430,406
693,001
3,475,855
14,599,262		 Support costs
£
1,417,121
-
174,238
1,591,359		 2025
£
6,863
215,000
221,863
2025
£
80,663
2025
£
4,690
65,498
70,188
2025
£
-
82,974
82,974
2025
£
11,847,527
693,001
3,650,093
16,190,621		 2024
£
11,184
112,587
123,771
2024
£
84,395
2024
£
1,977
2,317
4,294
2024
£
82,593
59,315
141,908
2024
£
11,839,084
686,984
3,334,280
15,860,348

Page 17

MISSION CARE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

7
SUPPORT COSTS
Governance costs (note 8)
Staff costs
8
GOVERNANCE COSTS
Legal costs
Fees paid to auditors
-
Audit fee
-
Other fees
9
EMPLOYMENT COSTS
Gross salaries
Employer's National Insurance
Employer’s Pension contributions
Other agency charges
The average number of staff employed during the year was:
Residential homes
Support Centre
Charity Shop
Employees earning over £60,000:
£60,000 - £70,000
£70,000 - £80,000
£80,000 - £90,000
£100,000 - £110,000
£140,000 - £150,000
£240,000 - £250,000
£260,000 - £270,000

Page 18

MISSION CARE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

10a TANGIBLE FIXED ASSETS GROUP

Freehold
Property
£
Cost
At 1 April 2024
14,279,254
Additions
-
Disposals
At 31 March 2025
14,279,254
Depreciation
At 1 April 2024
5,246,445
Charge for the year
258,978
Released on disposals
-
At 31 March 2025
5,505,423
Net book value
At 31 April 2025
8,773,831
At 31 March 2024
9,032,809
10b TANGIBLE FIXED ASSETS CHARITY
Freehold
Property
£
Cost
At 1 April 2024
14,279,254
Additions
-
Disposals
-
At 31 March 2025
14,279,254
Depreciation
At 1 April 2024
5,246,445
Charge for the year
258,978
Released on disposals
-
At 31 March 2025
5,505,423
Net book value
At 31 March 2025
8,773,831
At 31 March 2024
9,032,809		 Plant and
Machinery
£
6,404,359
1,087,492
(6,258)
7,485,593
4,826,947
434,023
(5,646)
5,255,324
2,230,269
1,577,412
Plant and
Machinery
£
6,375,260
1,087,492
(717)
7,462,035
4,798,148
433,875
(105)
5,231,918
2,230,117
1,577,112		 Motor
Vehicles
£
44,413
-
-
44,413
44,413
-
-
44,413
-
-
Motor
Vehicles
£
44,413
-
-
44,413
44,413
-
-
44,413
-
-		 Total
£
20,728,026
1,087,492
(6,258)
21,809,260
10,117,805
693,001
(5,646)
10,805,160
11,004,100
10,610,221
Total
£
20,698,927
1,087,492
(717)
21,785,702
10,089,006
692,853
(105)
10,781,754
11,003,948
10,609,921

Freehold properties include £2,010,750 relating to freehold land which is not being depreciated and £95,555 of finance costs, (none of which was capitalised during the current year). Freehold properties with carrying values of £4,494,074 have been pledged as security for borrowings. Plant and Machinery with carrying value of £168,592 is held under finance leases.

Page 19

MISSION CARE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

11
INVESTMENTS
Samaritan
Fund
Love Walk
£
£
GROUP
Fair value
At 1 April 2024
58,147
-
Unrealised (loss)/gain
(2,709)
-
Disposals
-
-
At 31 March 2025
55,438
-
UK Investments comprise:
Listed investments:Common deposit and investment funds
Investment in subsidiary		 Samaritan
Fund
£
58,147
(2,709)
-
55,438		 Love Walk
£
-
-
-
-		 2025
£
58,147
(2,709)
-
55,438		 2024
£
64,509
5,209
(11,571)
58,147
2025
£
55,438
1
55,439		 2024
£
58,147
1
58,148

The investment in the subsidiary relates to Mission Care Trading Limited, company number 9337456. The charity owns 100% of the ordinary share capital of this company. At 31 March 2025 the company had net liabilities of £138,501. In the year to 31 March 2025 the company had turnover of £80,663 and expenses of £87,292. Overall, the company made an operating loss of £6,629. During the year the charity waived £100,000 of the loan that had been made to the trading subsidiary. The results of the subsidiary have been included in the consolidated accounts. The activity of the company is the running of charity shops.

12a
DEBTORS GROUP
Fees receivable
Other debtors
Prepayments and accrued income
12b
DEBTORS CHARITY
Fees receivable
Prepayments and accrued income		 2025
£
864,521
12,203
3,217,781
4,094,505
2025
£
863,217
3,215,551
4,078,768		 2024
£
512,638
23,430
2,631,833
3,167,901
2024
£
511,334
2,630,015
3,141,349

Page 20

MISSION CARE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

13a
CREDITORS: Amounts falling due within one year
GROUP
Bank loans
Trade creditors
Accruals
Social security
Other creditors
Finance lease obligations
13b
CREDITORS: Amounts falling due within one year
CHARITY
Bank loans
Trade creditors
Accruals
Social security
Other creditors
Finance lease obligations		 2025
£
264,394
904,439
261,147
187,958
854,993
53,115
2,526,046
2025
£
264,394
1,126,334
274,407
187,958
613,702
53,115
2,519,910		 2024
£
334,662
983,994
102,113
178,170
646,888
29,653
2,275,480
2024
£
334,662
1,187,244
115,373
178,170
422,965
29,653
2,268,067

The Triodos bank loans are secured on the Elmwood and Greenhill properties. The Natwest loan is secured on the The Elms properties, 147 and 145 Barry Road, East Dulwich, London. The bank loans are financial instruments measured at amortised cost. Interest of £497,617 (2024: £435,231) was charged during the year.

14a
CREDITORS: Amounts falling due after more than one year
GROUP
Bank loans
Finance lease obligations
14b
CREDITORS: Amounts falling due after more than one year
CHARITY
Bank loans
Finance lease obligations		 2025
£
7,078,406
83,604
7,162,010
2025
£
7,078,406
83,604
7,162,010		 2024
£
5,539,747
86,301
5,626,048
2024
£
5,539,747
86,301
5,626,048

£6,047,792 (2024: £4,647,113) of the bank loans is repayable in more than five years. The main bank loans are repayable by 2043 and 2044. They carry interest at 2.25% over base rate.

Page 21

MISSION CARE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

15
UNRESTRICTED FUNDS
2025
General Fund
Friends' Groups
Samaritan Fund
Cyclical Maintenance
Redevelopment Fund
Building Fund
2024
General Fund
Friends' Groups
Samaritan Fund
Cyclical Maintenance
Redevelopment Fund
Building Fund		 Balance at
1 April
2024
Income
Expenditure Investment
gains and
transfers
Balance at
31 March
2025
£
£
£
£
£
4,794,055
17,521,916
(16,267,549)
-
6,048,422
17,824
-
-
-
17,824
26,625
-
(550)
(2,709)
23,366
151,510
-
-
-
151,510
292
-
-
-
292
32,863
-
-
-
32,863
5,023,169
17,521,916
(16,268,099)
(2,709)
6,274,277
Balance at
1 April
2023
Income
Expenditure Investment
gains and
transfers
Balance at
31 March
2024
£
£
£
£
£
5,235,509
15,325,030
(15,766,484)
-
4,794,055
17,824
-
-
-
17,824
22,533
-
(800)
4,892
26,625
251,510
-
(100,000)
-
151,510
131,158
-
(130,866)
-
292
32,863
-
-
-
32,863
5,691,397
15,325,030
(15,998,150)
4,892
5,023,169

The Friends’ Groups funds relates to funds designated for the use of volunteers linked to specific homes and is generally used for residents’ activities.

The Samaritan Fund is designated for allocation to current or former members of staff who have specific needs and is administered by a sub-committee.

The Cyclical Maintenance Fund is designated to provide funding for specific and exceptional maintenance requirements that arise from time to time.

The Redevelopment and Building Funds are designated for the future building or other development needs of specific homes.

16
RESTRICTED FUNDS
2025
Love Walk
The Elms		 Balance at
1 April
2024
Income
Expenditure Investment
gains and
transfers
Balance at
31 March
2025
£
£
£
£
£
153,719
-
-
-
153,719
1,313,345
45,000
(5,496)
-
1,352,849
1,467,064
45,000
(5,496)
-
1,506,568

Page 22

MISSION CARE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

16 RESTRICTED FUNDS (continued)

2024
Love Walk
The Elms		 Balance at
1 April
2023
Income
Expenditure
Investment
losses and
transfers
Balance
at 31
March
2024
£
£
£
£
£
153,386
-
16
317
153,719
1,291,587
25,880
(4,122)
- 1,313,345
1,444,973
25,880
(4,106)
317 1,467,064

The Love Walk fund relates to gifts made for various specific aspects of residents’ well-being at Love Walk and will be expended once appropriate needs arise.

The Elms fund relates to The Elms care home property which is restricted for use for the provision of care in the London Borough of Southwark. It also contains the balance of the other capital funds on transfer which are to be used for future capital works at the Elms.

17 ANALYSIS OF NET ASSETS BETWEEN FUNDS GROUP

Fixed assets
Net current assets
Long term liabilities
CHARITY
Fixed assets
Net current assets
Long term liabilities		 Unrestricted
funds
Restricted
funds
Total
£
£
£
11,059,538
- 11,059,538
2,376,749
1,506,568
3,883,317
(7,162,010)
-
(7,162,010)
6,274,277
1,506,568
7,780,845
Unrestricted
funds
Restricted
funds
Total
£
£
£
11,059,387
- 11,059,387
2,357,678
1,506,568
3,864,246
(7,162,010)
- (7,162,010)
6,255,055
1,506,568
7,761,623

CHARITY

18 LEASING COMMITMENTS

The total future minimum lease payments under non-cancellable operating leases are payable :

Within one year
Between two and five years
More than five years
Operating lease payments in year		 2025
2024
£
£
61,600
77,355
245,073
62,146
24,167
-
71,820
84,379

Page 23

MISSION CARE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

19 RELATED PARTY TRANSACTIONS

During the year, the charity paid £16,450 (2024: £26,258) to Pilgrim Law Ltd. Mark Jones is a director and shareholder of Pilgrim Law Ltd.

Page 24