Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 1132 Registered number: 01989868 Charity number: 293522 ST. LUKE'S OXFORD (A company limited by guarantee) MEMBERS OF THE COUNCIL'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 2132 ST. LUKE'S OXFORD IA company limited by guarantee) CONTENTS Page Reference and administrative details of the Charity. its Members of the Council and advisers Chairman's statement Message from Chlef Exe¢utlve Members of the Council's report 5-10 Independent auditor's report on the financial statements ststement of financial activities 14 Balance sheet 15 statement of cash flows 16 Notes to the flnanclal statements 17-30
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 32 ST. LUKE'S OXFORD IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS MEMBERS OF THE COUNCIL AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Members of the Council Mr L A Ponsonby. Chairman Mr G P Candy" Lady J Norman, Dr H Van Oss {resigned 18 December 20241 Mr P D Burge Ms T Welford (resigned 26 March 20251 Mr M J Wilkinson. (resigned 18 December 20241 Mr S W Polilo. {appointed 27 March 20241 Ms T L McGrigor' lappointed 2 October 20241 Mr N K Ritchie. Treasurer lappoinled 27 March 20241 Dr J M Hughes lappoinled 26 September 20251 Ms F L Barnes lappoinled 26 September 20251 member ofthe Finance Committee Company registered number 01989868 Charity registered number 293522 Registered office 4 Lalimer Road Headington Oxford OX3 7PF Non - executive officers Sir Timothy Stevenson, OBE, President Earl of Donoughmore, Vice President Mrs S B S Homersham, Vice President Key management personnel Mr R L Burden, Chief Executive Officer Mrs V Waine, Matron Mr A Mebrahtu, Finance Manager and Company Secretary Mr J Peake, Facilities Manager Independent auditor James Cowper Kreston Audit Chartered Accountants and Slatulory Auditor The While Building 4 Cumberland Place Southampton S0152NP Page 1
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 4132 ST. LUKE'S OXFORD IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS MEMBERS OF THE COUNCIL AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Bankers Lloyds Bank PIC POBox8 1-5 High Street Oxford OX14AA HSBC Bank PIC 2nd Floor Seacourt West Way Botley Oxford OX2 OPL Handelsbanken Latimer House Langford Business Park Kidlington Oxfordshire OX5 1GG Solicitors Blake Morgan Seacourt Tower West Way Oxford OX2 OFB Page 2
VirtualSignalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Crt 2025 11".42 38 BST (UTC +11 D 1ts P 5132 ST. LUKE'S OXFORD IA company limited by guarantee) FOREWORD FROM CHAIRMAN FOR THE YEAR ENDED 31 MARCH 2025 The chairman presents his statement for the year. The beginning of the accounting year coincided with the news that our 10 bed rehabilitation contract with the ICB, that had served both them and Sl Luke's so effectively over the previous four years, was going lo be terminated at the end of May 2024, due to circumstances outside our control. This prompted a drop in occupancy over the summer months which recovered in September, with a higher proportion, subsequently, of long term self-funded and continuing care residents, bul still nonetheless experiencing a strong flow of short term respite and rehabilitstion patients. We have continued to explore alternative contract options with the NHS and ICB for state- funded placements, particularly where we are able to deploy our physiotherapy skills, to benefit the swift recovery of patients. Following the loss of the contract, the wide range of high quality nursing care services that we offer, has provided us with much needed flexibility to maintain occupancy al an average of 83/0 over the year, against an increasingly challenging inflationary and economic backdrop, in the face of strong govemmenl financial pressures. In July 2024, we completed a 20 bed refurbishment programme, which was almost entirely fully funded through a successful campaign. A recent fundraising walk has also covered the cost of the refUiShment of the gym, with a Thera trainer and treadmill now ordered, as well as making a significant contribution towards a rehabilitation kitchen. After a difficult start to the year, our financial position improved in line with occupancy, leading to another modest surplus, after taking into account loan interest repayments. Al a 5 year break, we renegotiated the terms of our borrowings, with a different bank, at a fixed rate, for the majority of the loan, reducing our repayments and also our exposure to the uncertain direction of interest rates in this climate. We relain our Good CQC rating. Three trustees have retired after many years of valuable service and have been replad by Iwo new members of the Council in the current year, and one being appointed in 2025126. As ever l am indebted to the immense Contribution of fellow trustees, and of course, to the dedication and commitment of the St Luke's staff and management team. ePcfigJrty12thYJ2b1.144iurC 411 Luke Ponsonby Chairman Dale.. 13 O¢lober 2025 Page 3
VirtualSignalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Crt 2025 11".42 38 BST (UTC +11 D 1ts P 6132 ST. LUKE'S OXFORD IA company limited by guarantee) MESSAGE FROM CHIEF EXECUTIVE FOR THE YEAR ENDED 31 MARCH 2025 This has been a year of consolidation. 11 was disappointing to lose our 10 bed contract with the CCG due lo a number of headwinds- overspending their budget, the move towards discharge from hospital to home to assess and the end of the CCG and the formation of the ICB with the subsequent lack of awareness of the benefits of our contract. Despite these headwinds along with the opening of a number of new care homes in the county and Countywide occupancy falling to 78°/o. we have been able to rebuild our occupancy to an overall average for the year of 86'/0. Oxfordshire County Council are pleased with the results of discharge to assess and have considerably reduce the number of beds they are purchasing in the independent sector which has undoubtedly contributed to the low occupancy figures. They have offered us the opportunity lo lender for a small number of rehabilitation beds, but we declined the opportunity as they would not have used our rehabilitation team. We are well staffed with a full team. Turnover rates are 10 /0 which is much better than the national average at 28'/0. We do have a problem with our sickness rates which has impacted on our costs as well as putting pressure on other staff. As a result we have introduced an attendance bonus for 2025126. Five years on from the start of our 15 year loan repayment for the 2017-2019 building project, we have been able to successfully pay down a third of the borrowings and negotiate more favourable terms for the next 10 years which has reduced our outgoings. The resilience of St. Luke's has been demonstrated by survival through the pandemic, the building works, high interest rates, the loss of a contract and surging inflation. There is every reason lo believe that it will continue lo thrive whatever happens with the stsle funded placements, although as a charity we clearly wish lo continue lo support the NHS and social services. Our mix of excellent rehabilitstion Servi$, high quality nursing care for respite, palliative care and long term care for adults and older persons give us the flexibility to adapt to market changes and our continuous programme of improving our facilities keeps us competitive with the market pla. We have various projects planned for 2025126 including the refurbishment and re-equipping of the Physiotherapy Gym, the first floor kitchen, an assisted bathroom and the library and are busy fundraising. Once again, I would like to thank our exlIent ane supportive trustees and our superb and dedicated wort(fOr. Richard Burden Chief Executive Officer 14 October 2025 Page 4
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 7132 ST. LUKE'S OXFORD IA company limited by guarantee) MEMBERS OF THE COUNCIL'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Members of the Council present their annual report together with the audited financial statements of the Company for the year 1 April 2024 to 31 March 2025. The Annual report serves the purposes of both a Members of the Council's report and a directors, report under company law. The Members of the Council confirm that the Annual report and financial slalements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Stslement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic Ireland IFRS1021 (effective 1 January 2019). The Charity also trades under the name St Luke's Hospital. Objectives and activitie$ Strategies for achieving objectlVOS The objects for which the charity is established are the relief and care of the elderfy, sick, disabled and poor from all faiths and those of none, including, to the extent that it is relevant and practical lo do so, in a manner and atmosphere appropriate to such faith. In pursuit of the above objects, the charity shall= (al assist in the treatment and care of persons suffering from physical illness of any description or in need of rehabilitation as a result of such illness, by the provision of long-term nursing care, palliative care,respite care and post-operative rehabilitation for sick, disabled and elderly persons- {bl endeavour to promote the dignity and quality of life due every individual, seeing each as a whole person, and aiming to give all those suffering from pain and disability the opportunity for growth in happiness and spiritual development., and {cl offer spiritual support for patients to the exlenl that patients wish to seek such consultation, through the provision of visits from such people of faith as are appropriate, which may include serVIS in the hospital Chapel. In furtherance of its objectives the Charity operates a 63 bed hospital in Headinglon, Oxford which provides care for both long slay and short stay patients. The success of the charity is measured by the number of satisfied patients and from the feedback gained from current and past patients. In the year ended 31 March 2025, 89,/0 of patients rated St Luke's as at least 'Good' with 50 /0 al 'Outstanding'. 95 /0 of the respondents would recommend to friends and family and 9110 scored Physiotherpay Servi at Outstanding. The financial results are laid out on page 14. Public benefit The Council considers that it has complied with Section 17151 of The Charities Act 2011 to have due regard lo the public benefit guidance published by the Charity Commission. During this financial year the Trustees have Carried out a review in order to ensure that Sl Luke's is meeting its obligations as a registered charity to deliver a public benefit. We are clear that we do carry out a service which clearly offers a significant public benefit both lo those who come lo us as patients and also to the wider local community in which Sl Luke's is situated. Our purpose as a trading charity is to generate income so that we can reinvest back into better relief and care for the elderfy, sick, disabled and poor. Page 5
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 8132 ST. LUKE'S OXFORD IA company limited by guarantee) MEMBERS OF THE COUNCIL'S REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Objectives and activities {continuedl St Luke's is unique in ils ability to offer a complete package of care for both short and long stay patients. We are well staffed with nurses and with 8 high proportion of qualified nurses enabling us lo provide the very best of care. They are backed up by teams of physiolheffipists, occupational Iherapisls and recreational therapists. This means patients are kept as active as possible and those retuming home are as well prepared as is possible. All applications from adults, who meet the hospital's admission criteria for health. are considered and equal merit is given lo all such applicants. For those who are unable lo meet the hospital's residential charges, they are able lo apply to the local authority for assistsnce and our team provides support on this regard. We work closely with the NHS. We take patients from the NHS, who either have particularty high levels of nursing needs, or require intensive physiolheffipy, in order lo return home, although currently, with the ending of the 10 bed conlr8cI, the laller is much less frequent. We currenfly offer 5 10 10 fast lffick and continuing care beds and lo help relieve NHS from bed blocking. The aim of this is to ensure that we rehabilitate patients. reducing the lime spent in acute hospitals and helping to make sure public funds are used in the most efficient way. Following the development, we have a range of excellent facilities and we seek to make sure that these are widely available within the local community,. we provide education and training rooms which are let out- consulting rooms are occupied by a range of high qu81ity health professionals including Radiologist offering X- Ray, CT scans and ultrasound scans and treatment, chiropractors, a skin clinic, a well women's clinic, a podialrisl and an ortholisl. Our Coffeè shop and gardens are also open to the public. We have a number of events for the local community. Such as a Big Lunch, Help with Fundraising Activities, a Christmas Lunch for the residents of Mcmaster House, and the chapel is used by Church of England. Evangelical, and Roman Catholic congregations. We are also looking at skills training which could be available lo the community. For many years the Sl Luke's Housing Society Ltd, an independent and dislincl charity, has occupied Mcmaster House, which is part of our premises, on a peppercorn rent. They offer sheltered housing with on-site management and maintenance services as well as 24 hour emergency alam) cover. As we write this report. the Sl Luke's Team are working incredibly hard to support and protect our patients and provide quality and friendly care services. One way in which the charity is able to support the wider community, is lo offer a bed lo a patient who can no longer remain al home., either because their usual care package is no longer available, or their family carer is unwell. We now have the capacity to support more patients than-ever before, and we are keen to play our part in helping to support the most vulnerable patients in the county who could benefit from our expertise and resources. Achievements and performance Fundraising activities and income generation St Luke's has continued lo engage a professional fundraiser lo manage and support a fundraising campaign lo help raisè finance for the refurbishment of rooms and replacing old beds. The fundraiser is member of the Institute of Fundraising. The fundraiser reports to the fundraising committee which meet monthly to review the results of fundraising campaign. The duties of the fundraising committee include ensuring that the fundraiser acts in accordance with the professional standards of the Institute of Fundraising and the committee has the power to investigate into any breach of those standards. The fundraising campaign has been succesful in raising £63,760 this year {2024.. £145,566). This was achieved through making applications to grant making Irusls, individual gifts from supporters and organising events such as Walking. Page 6
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 9132 ST. LUKE'S OXFORD IA company limited by guarantee) MEMBERS OF THE COUNCIL'S REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and performance {¢ontinuedl We give special thanks to all our donors who support Sl Luke's through their amazing generosity. The donations and grants we receive help us to make significant improvements lo our facilities and lo the seNices we offer lo the community. No breaches in st8nd8rds were detected and no complaints in relation to fundraising activities were received in the year ended 31 March 2025. To protect vulnerable people and the wider public from certain behaviour during lor in connection lo} fundraising aclivilies, and ensure that Sl Luke's holds and abides by ils own donor privacy policy. Financial review The year continued lo be a challenging one for St. Luke's, both financially and operationally. However. with an overall occupancy rate of 830/0, the charity retumed a surplus on Unrestricted Funds of £204K (2023124.. £209K}, a result for which the Management and staff need lo be congralul8ted. This occupancy was achieved despite two rooms being constantly out of service for refurbishment throughout the year. A tight control was kept on key costs and Covid-19 infections. Our agreement with ICB Ilntegraled Commissioning Board), and Oxford University Hospitals IOUH) NHS Trust to guar8ntee provision of 10 beds, approximately 160/0 of our available occupancy continued throughout the year. This contract continued into the first two months of the new year but was terminated at the end of May 2024. Overall. the Council's objectives for the year were to return an operating surplus, build reserves, and raise funds for the refurbishment of rooms on the ground and first floors. These objectives were largely achieved with cash resources of £953K lincluding money market depositsl12023124= £1,077KI at year end. At year end we had also raised a total of £64K in Reslricled Funds since 2023-24. Fixed assets The freehold land and buildings are now valued on a historical cost convention. The Council have concluded that this valuation policy is appropriate for the charity for the foreseeable future. Reserves polity Council's policy is lo rebuild reserves lo provide for the long-lerm future of the Hospital. In order to achieve this objective, we feel that a cash reserves level equivalent lo six months operating costs is appropriate. However, it is recognised that this will take several years lo achieve as the rèpayment of the £2.2M refinancing loan from Handelsbanken will lake a significant proportion of our free cash generation. Current cash resources as of 31 March 2024 stand at approximately three months opeffiting costs. We also have a facility to borrow up to £3 million, should we require it. Principal risks and uncertainties Risk Statement As mentioned earlier in this report Sl. Luke's continues lo face a number of challenges. However, the Council and Management have made considerable progress lo miligale these risks wherever possible. Page 7
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 10132 ST. LUKE'S OXFORD IA company limited by guarantee) MEMBERS OF THE COUNCIL'S REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 In addition lo the above our position has been strengthened considerably due lo the following factors.. We have refinanced the HSBC Loan, with a new loan with Handelsbanken, reducing the cost of the variable debt portion of the loan by 0.70'/0, whilst reducing the potential for future volatility of repayment costs, by taking out a ten year fixed interest rale loan at a rate of 5.88 /0 for 70,/0 of the principal owed. We have negotiated a cost free loan facility of £800K, available for the ten year life of the Handelsbanken loan, on the same terms as our new loan. The terms of the Handelsbanken loan are less onerous than those of those we had in place with HSBC. and contribute lo the pursuit of our strategy of building financial stability and resilience. Council believes it has identified the major risks to which the Hospital is exposed. These include risks lo ils financial stability, strong reputslion and qualily of the care provided and possible fulure resurgence of a major pandemic. Risks have been categorised both by the likelihood of their occurrence and potential impact. Council reviews the adequacy of protection against these risks and. if required. puls in place procedures lo mitigate them. Council meets quartedy to consider the identification and mitigation of risks. and the Finance Committee, meeting more regularfy, keeps a close watch on levels of expenditure and overall financial perfotrnan. The Care Govemance Committee also meets quarterly, lo assess and monitor the clinical and staff related risks of our charity. In addition to the above, our long-term loan from HSBC imposed certain conditions on our financial and operating performance. During the past year, the charity met all ils loan covenants. Overall. the Hospital is in a much stronger position than in the last few years. There is no doubt that significant risks and challenges still lie ahead, but Council believes that with our current financial position and operational procedures, we are confident that we can move forward positively. Structure. governance and management Constitution St. Luke's Oxford is registered as a charitable company limited by guarantee and was set up by a Trust deed. Governance and internal control A panel comprising existing Council Members selects the Members of the Council. Appointment is subject to the approval of the council. Appointees are interviewed by the Chairman and one other Member of the Council. and provided with full information about the charity before being invited to join the council. Members of the Council serve for a three year period and may be re-elected. The council meets four limes a year. The Finance Committee is made up of Members of the Council and usually meets eight times each year. The committee operates under specific terms of reference, under which certain function5 are delegated from the council. The committee has its decisions ratified by the full board. The remuneration sub-committee of the Finance Committee is responsible for setting the pay and conditions of the key management personnel. The council has the power to form other subcommittees, to consider key mallers such is strategy. buildings, assurance and fundraising, as and when the need arises. For the duration of the building projects, the council decided to merge the Finance Committee with the buildings committee. Page 8
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P I If82 ST. LUKE'S OXFORD IA company limited by guarantee) MEMBERS OF THE COUNCIL'S REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure, governance and management (continued) The council delegates the day-to-day running of Sl Luke's lo the key management personnel, who operate under the direction of the Chief Executive Officer, within the framework of the annual budget. The council approves the annu81 budget which embodies the strategy for each year. Operational decisions are then made by the key management personnel, except where expenditure is in excess of £10.000, which requires the approval of the finance committee. The Members of the Council have overall responsibility for ensuring that the charity has appropriate systems of control, financial and otherwise. These systems should provide reasonable assurance that= the charity is operaling efficiently and effectively- ils assets are safeguarded against unaulhorised use or disposition., proper records are maintained and financial information used within the charity, or for publication, is reliable-and the charity complies with relevant laws and regulations. The systems of internal control are designed to provide reasonable assuran against material misstatement or loss. They inclLJde'. a five year plan and annual budget approved by the Council., regular consideration by the council of financial results and variances from budgets., delegation of authority and segregation of duties., and appropriate training and development of staff. Plans for future perlods The plans for 202512026 are really about increased efficiency, operating income and consolidation. As communities are back lo normal life. St Luke's will gradually rebuild confidence in the care home sector. Sl. Luke's unique mix of long term care, post operative rehabilitation, respite and palliative care along with ils reputslion should help il survive and thrive. In this year 8 Strategy committee was sel up to lo study and analyse the five-year strategic plan drafted by the CEO and has several meetings. The Council will review the recommendations from the committee and produce a five-year plan the forthcoming financial year. Page 9
VirtualSignalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Crt 2025 11."42 38 BST (UTC +11 D 1ts P 1213 ST. LUKE'S OXFORD IA company limited by guarantee) MEMBERS OF THE COUNCIL'S REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Plans for future periods {continuedl Statement of Members of the Council's responsibilities The Members of the Council (who are also the directors of the Charity for the purposes of company lawl are responsible for preparing the Members of the Council's report and the financial statements in accord8n¢e with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). Company law requires the Members of the Council lo prep8re financial statements for each financial year. Under company law, the Members of the Council musl not approve the financial statements unless they are satisfied that they give a true and fair view of the stste of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these fi'nancial statements, the Members of the Council are required lo.. select suitable accounting policies and then apply them consistently,. observe the methods and principles of the Charities SORP IFRS 1021., make judgements and accounting estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial stalemenls., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Members of the Council are responsible for keeping adequate accounting records that are sufficient lo show and explain the Charity's transactions and disclose with reasonable accuracy al any lime the financial position of the Charity and enable them to ensure that the financial slalemenls comply with the Companies Act 2006. 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. Disclosure of infomiation to auditor Each of the persons who are Members of the Council at the time when this Members of the Council's report is approved has confimied that.. so far as that Member of the Council is aware, there is no relevant audit information of which the charity's auditor is unaware, and that Member of the Council has taken all the steps that ought to have been taken as a Member of the Council in order to be aware of any relevant audit information and to establish that the charills auditor is aware of that information. Auditor The auditor, James Cowper Kreston Audtt, has indicated ils willingness to continue in office. The designated Members of the Council will propose a motion reappointing the auditor at a meeting of the Members of the Council. ed by order f the members of the board of Members of the Council and signed on their behalf by.. Mr L A Ponsonby Member Df the Council Dale.. 13 October 2025 Page 10
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 13132 ST. LUKE'S OXFORD IA company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. LUKE'S OXFORD Opinion We have audited the financial statements of St. Luke's Oxford {Ihe 'charity'l for the year ended 31 Mah 2025 which comprise the Slalement of financial activities, the Balan sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. Iunited Kingdom Generally A¢pted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the slate of the charitable companls affairs as at 31 March 2025 and of ils incoming resources and application of reSoUrs, including its income and expenditure for the year then ended.. have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. 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 IUKI IISAS (UKI) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom. including the Financial Reporting Council'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 lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial stalemenls, we have conclLJded that the Members of the Council's use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identtfied any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable companls ability lo 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 Members of the Council with respect to going concern are described in the relevant sections of this report. Page11
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 14132 ST. LUKE'S OXFORD IA company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. LUKE'S OXFORD ICONTINUEDI Other information The other information comprises the information included in the Annual report other than the financial stslemenls and our Auditor's report thereon. The Members of the Council are responsible for the other information contsined within the Annual report. Our opinion on the financial statements does not cover the other information and, except lo the extent otherwise explicitly slated in our report, we do not express any fomi 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 lo be materially misstated. If we identify such material inconsistencies or apparent material misslalements, we are required lo determine whether this gives rise to a material misstatement in the rinancial statements themselves. If, based on the work we have perfomied, 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. Opinion on other mattors prgscribgd by the Companies Act 2006 In our opinion, based on the work Undertaken in the course of the audit.. the information given in the Members of the Council's report for the financial year for which the financial statements are prepared is consistent with the financial ststements. the Members of the Council's report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstalemenls in the Members of the Council's report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us lo report lo you if, in our opinion.. adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us,. or the financial statements are not in agreement with the accounting records and returns., or certain dis¢losures of Members of the Council's remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit. Responsibilities of tru$teos As explained more fully in the Members of the Council's responsibilities statement, the Members of the Council (who are also the directors of the charitable company for the purposes of company lawl 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 Members of the Council 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 slatemenls, the Members of the Council are responsible for assessing the charitable companls ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going conrn basis of accounting unless the Members of the Council either intend lo liquidate the charitable company or to aSe operations, or have no realistic allemative bul to do so. Page 12
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 15132 ST. LUKE'S OXFORD IA company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. LUKE'S OXFORD ICONTINUEDI Auditorfs responsibilities for tho audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial slalements as a whole are free from material misslalement, whether due to fraud or error, and to issue an Auditorfs 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 IUKI will always delect 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. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misststemenl in the financial statements or non-complian with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instsnces of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional Conalment, forgery, collusion, omission or misrepresentation. The specific prOdureS for this engagement that we designed and performed lo detect material misstatements in respect of irregularities, including fraud, were as follows= Enquiry of management and those charged with governance around actual and potential litigation and claims- Enquiry of management and those charged with governance lo identify any material instan$ of non- compliance with laws and regulations., Reviewing financial statement disclosures and lesling lo supporting documentation to assess compliance with applicable laws and regulations., Performing audit work to address the risk of irregularities due to management override of controls, including testing of joumal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias. A fLJrther description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al.. www.frc.or .uklauditorsres onsibilities. This description forms part of our Auditor's report. Use of our report This report is made solely lo the charitable companvs members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable companls members those matters we are required to state to them in an Audilorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charitable company and ils members, as a body. for our audit work, for this report, or for the opinions we have formed. Michael Bath Bsc FCA DChA{Senior Statutory Auditor) for and on behalf of James Cowper Kreston Audit Chartered Accountants and Statutory Auditor The White Building 4 Cumbedand Place Southampton S015 2NP Dale.. 14 October 2025 Page 13
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 16132 ST. LUKE'S OXFORD IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Restricted funds 2025 Total funds 2025 Total funds 2024 Note Income from- Donations and legacies Charitable activities.. Palient fees Rental income Coffee shop Investments Other income 41,297 63,760 105,057 155,023 4,601.384 135,799 29,782 20.970 4.075 4,601.384 135,799 29,782 20.970 4.075 4,564,773 130,070 26,965 23,993 12,600 Total income 4,833,307 63,760 4,897,067 4,913,424 Expenditure on: Charitable activities 4,628.857 4,628.857 4,580,436 Total expenditure 4,628,857 4,628,857 4,580,436 Net movement in funds 204.450 63.760 268.210 332,988 Reconciliation of funds.. Total funds brought forward Nel movement in funds 5,649,090 204,450 8.794 63,760 5,657,884 268,210 5,324,896 332,988 Total funds carried fonNard 5,853.540 72.554 5,926.094 5,657,884 The Ststemenl of financial activities includes all gains and losses recognised in the year. The notes on pages 17 to 30 fomi part of these financial statements. Page 14
VirtualSignalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Crt 2025 11."42 38 BST (UTC +11 D 1ts P 1713 ST. LUKE'S OXFORD IA company limited by guarantee) REGISTERED NUMBER: 01989868 BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Flxed assets Tangible assets Current assets 11 7,322,348 7,389,256 Stocks Debtors 12 13 11,600 259,931 700,000 252.667 11,600 190,459 770,753 305,899 Investments Cash al bank and in hand 14 1.224,198 1,278,711 Creditors.. amounts falling due within one year 15 1653,9921 1747,6051 Net current assets 570.206 531,106 Total assets less current liabilities 7,892.554 7,920,362 Creditors.. amounts falling due after more than one year 16 (1,966.4601 {2,262,4781 Total net assets 5,926.094 5,657,884 Charity funds Reslricled funds Unreslricled funds 17 72.554 8,794 General funds 17 5,853,540 5,649,090 Total unrestricted funds 17 5,853.540 5,649,090 Total funds 5,926.094 5,657,884 The Members of the Council acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and preparation of financial statements. The financial statements were approved and authorised for issue by the Members of the Council and signed on their behalf by.. Mr N Ritchie Treasurer Dale.. 14 October 2025 The notes on pages 17 to 30 form part of these financial statements. Page 15
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 18132 ST. LUKE'S OXFORD IA company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Noto Cash flows from operatlng actlvltles Nel cash used in operating activities 20 465,198 671,823 Cash flows from Investlng actlvltles Investment income Purchase of tangible fixed assets Short term investment 20,970 3,240 1151,3881 1251,1221 70.753 1750,0001 Net cash used in investing activities 159,6651 {997.8821 Cash flows from financing activities Interest paid Repayments of borrowings 1162,7471 1191,8581 1296,0181 1336,8441 Net cash used in financing activities 1458,7651 {528.7021 Change In cash and cash equlvalents Sn the year Cash and cash eqLJivalents at the beginning of the year {53.2321 305,899 {854.7611 1,160,660 Cash and cash gquivalents at the end of thg year 21 252,667 305,899 The noles on pages 17 to 30 fomi part of these financial stslements Page 16
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 19132 ST. LUKE'S OXFORD IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policios 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 1021 Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Sl. Luke's Oxford meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise staled in the relevant accounting policy. 1.2 Going concern We have just successfully completed the transfer of our loan from HSBC to Handelsbanken on more favourable terms. We have fixed 700/0 of the loan as a precaution and the remaining 300/0 is variable which gives us the flexibility to continue paying off our loan, which we have reduced from £3.3 million to £2.1 million over the past 5 years despite challenging post-covid conditions. To comply with the terms of the loan we had to persuade the bank that we were a good risk and carry out a new valuation. We have adequate cash reserves and the facility to extend our loan should we require extra funds. Despite shortage of funds al the local authority causing them to terminate our 10-bed contract and restrict funding to CHC funded patients through the use of an online. To demonslrale our resilience to withstand future challenges, the pandemic caused an immediate shock to our business as approximately 300/0 of our beds are short stay. Admissions for short slay virtually ceased and as patients went home our occupancy fell. We were able to furlough staff and reduce hours and overtime, but we were steadily draining reserves to keep our staff in place. We were then able to close the ground floor and isolate it and become the only 'designated setting in the county taking covid positive patients from the acute hospitals to relieve their pressures. We had lo have our infection control procedures inspected and approved by the CQC to enable us to lake that contract which helped our finances lo recover. Due lo the good relationships this engendered we were able lo get further contracts with the CCG and local authority. Due to the financial constraints on them and their new poliry of discharge to assess and the number of new homes being built in OKFordshire, the occupancy levels have dropped in Oxfordshire. However, our demand has continued to be strong. If there were to be another pandemic, we would be in a strong position to get a similar arrangement to support the acute hospitals il their time of need. Our high standards of infection control will continue to protect our patients from the pandemic taking hold within our building. We have increased our fees to compensate from government Nl increase and believe that we have the capacity to do so again as the introduce new workforce legislation. We are fully staffed and have good retention so will be able lo maintain our standards where many will not as immigration standards are tightened. We have produced budgets for different levels of occupancy and have good reserve levels. Our new loan arrangement is a bonus as that had not been budgeted for and demonstrates our financial resilience. As a charity we have been able lo fundraise for refurbishment projects which means that we have been able lo upgrade without impacting on our bottom line. We have kept pace with replacing equipment and introducing technology. We are well insured. We have demonstrated our resilience by the speed in which we recovered occupancy levels following the loss of the 10-bed contract and the introduction of the portal to offer CHC beds. Page 17
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 20132 ST. LUKE'S OXFORD IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued) 1.3 Income All income is recognised once the Charity has entitlement lo the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Other income is recognised in the period in which il is receivable and to the extent the goods have been provided or on Completion of the service. Voluntary income This represents donations reiVed by the charity. Investment inGome This represents investment income which is included on an accruals basis. Incoming resources from charitable activities This represents fee income from patients together with rental income from nsUltantS using the premises as offices and consulting rooms. 1.4 Expenditure Expenditure is rewgnised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 1.5 Tangible fixed assots and dopreciation Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tsngible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of $1. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, Using the slraighl-line method. Freehold land is not depreciated. Depreciation is provided on the following bases.. Freehold property Room refurbishment costs Plant and equipment Fixtures and fittings Medical equipment Computer equipment over 50 years over 20 years over 3 years over 2 to 10 years over 3 to 10 years over 2 years Where existing assets such as furniture and IT equipment have to be replad due lo normal 'wear and tear. the expenditure is taken directly to repair costs. 1.6 Stock Stock is valued al the lower of cost and net realisable value. Page 18
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 21132 ST. LUKE'S OXFORD IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued) 1.7 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.8 Cash at bank and in hand Cash at bank and in hand includes cash and short-lerm highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. 1.9 Liabilities Liabilities are recognised when there is an obligation al the Balan sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in setllemenl, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anlicipales it will pay lo sellle the debt or the amount il has received as advanced payments for the goods or services il must provide. 1.10 Financial in$trumgnts The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amorbsed cost using the effective interest method. 1.11 Pension$ The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity lo the fund in respect of the year. 1.12 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Members of the Council in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordan with specific reslriclions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fune is set out in the notes to the financial statements. Page 19
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 22132 ST. LUKE'S OXFORD IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Critical accounting estimate$ and areas of judgement Estimates and judgements are continually evaluated and are based on historical experien and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions.. The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the Caryng amounts of assets and liabilities within the next financial year are discussed below. Tangible fixed assets Tangible fixed assets are depreciated over their useful lives taking into account residual valued, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asses and projected disposal values. Other incoming resource$ Unrestrictgd funds 2025 Totsl funds 2025 Total funds 2024 Other income 4,075 4,075 12,600 Total 2024 12,600 12,600 Analysis of expenditure on charitable activities Summary by fund type Unrestricted Restricted fund5 funds 2025 2025 Total 2025 Tol81 2024 Patient services and facility costs Managing and adminislralion costs (including governance) 3,935,001 3,935,001 3,897,483 693,856 693,856 682,953 4,628,857 4.628,857 4,580,436 Total 2024 4,556,753 23,683 4,580,436 Page 20
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 23132 ST. LUKE'S OXFORD IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditurg on Charitsble activitios lcontinugdl Summary by expendituro typg Staff costs Depreciation Other costs 2025 2025 2025 Total 2025 Total 2024 Patient setvices and facility costs 2,757,432 218,295 959,274 3.935.001 3,897,483 Managing and administration costs (including governance) 370,063 323,793 693,856 682,953 3,127,495 218,295 1,283,067 4.628,857 4,580,436 Tol812024 3,094,527 178,975 1,306,934 4,580,436 Patient services and facility costs 2025 2024 Nursing services Medical supplies Non clinical services including catering and domestic Premises and plant Coffee shop Depreciation 2.401,857 86.348 840,566 384,314 3,621 218.295 2,434,647 53,747 833,093 376,621 20,400 178,975 3.935,001 3,897,483 Managing and administration costs (including governance) 2025 2024 Salaries Finance costs- other Interest payable Insurance Office and administration costs Govemance 370,064 512 162.747 58,101 80,472 21.960 347.922 1,489 191,858 40,709 80.815 20,160 693,856 682,953 Page 21
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 24132 ST. LUKE'S OXFORD IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Auditorfs remuneration The audilorfs remuneration amounts to an auditor fee of £17,096 (2024 - £17,096), and preparation of the rinancial statements of £2,05012024 - £4.0321. Stsff costs 2025 2024 Wages and salaries Social security costs Pension costs 2,793,434 273,670 60.391 2,773,125 263,428 57,974 3.127,495 3,094,527 The average number of persons employed by the Charity during the year was as follows= 2025 No. 2024 No. Patient services and facility costs Managing and adminislralion (including governance) 88 87 95 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was= 2025 No. 2024 No. In the band £60,000 - £70,000 In the band £80,000 - £90,000 In the band £90,001 - £100,001 In the band £120,000 - £130,000 The key management personnel of the charity Comprise the Members of ihe Council, the Chief Executive Officer, Finance Manager, Matron and Facilities Manager. The total employee benefits of the Key Management Personnel of the charity were £309,50012024.. £303,015). Members of the Council's remuneration and expenses During the year, no Members of the Council received any remuneration or other benefils12024- £NILI. During the year ended 31 March 2025, no Member of the Council expenses have been incurred {2024 - £ NILI. Page 22
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 25132 ST. LUKE'S OXFORD IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10. Taxation The company is considered lo pass the tests set out in Sch.6, para.1 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempl from taxation in respect of income or capitsl gains reiVed within categories covered by Pt.11, Ch.3 of the Corporation Tax Act 2010 or s.256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively lo charitable purposes. 11. Tangible fixed assets Room Plant and refurbishment Other fixed equipment costs assets Freehold property Total Cost or valuatlon At 1 April 2024 Additions 8,814,696 75,086 48,153 30,319 195,462 45,983 274,344 9,332,655 151,388 At 31 March 2025 8,889.782 78,472 241.445 274,344 9,484.043 Depreciation At 1 April 2024 Charge for the year 1,592.949 167,286 25,079 15,772 51.027 35,238 274,344 1,943.399 218,296 At 31 March 2025 1,760,235 40,851 86,265 274,344 2,161,695 Net book value At 31 March 2025 7,129,547 37,621 155,180 7,322,348 At 31 March 2024 7,221,747 23,074 144,435 7,389,256 The charity has freehold land of £1,000,00012024.. £1,000,000}. 12. Stocks 2025 2024 Food and provisions Domestic items 7,000 4,600 7,000 4,600 11.600 11,600 Page 23
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 26132 ST. LUKE'S OXFORD IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Debtors 2025 2024 Trade debtors 251,395 5.386 3.150 172,771 15,707 1,981 Other debtors Prepayments and accrued income 259,931 190,459 14. Current asset investments 2025 2024 Unlisted investments Iliquidl 700,000 770,753 15. Creditors: Amounts falling dug within one year 2025 2024 Bank loans 147,520 87,764 56.403 29,323 332,982 147,520 124,483 55,169 47,046 373,387 Trade creditors Other laxalion and social security Other creditors Accruals and deferred income 653,992 747,605 2025 Deferred income al 1 April 2024 Resour$ deferred during the year Amounts released from previous periods 141,975 126.798 {141.9751 126,798 Deferred income relates to patient fees paid in advance. Page 24
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 27132 ST. LUKE'S OXFORD IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 16. Creditors: Amounts falling duo after more than one year 2025 2024 Bank loans 1,966,460 2,262,478 The bank loan is secured against the property al 4 Lalimer Road, Headington, OX3 7PF. Page 25
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 28132 ST. LUKE'S OXFORD IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17. ststomont of funds ststement of funds - curront year Balance at 31 March 2025 Balance at 1 April 2024 Incomg Exponditure Unrestricted funds General funds 5.649,090 4,833.307 14.628,8571 5,853.540 Restrlcted funds Development fund Care chair 8,583 211 63,760 72,343 211 8,794 63,760 72,554 Total of funds 5,657,884 4,897,067 14,628,857) 5,926,094 Development fund This is a project set up by the charity to refurbish 20 rooms and replace essential fumiture. This year the committee raised £63,760 12024.. £125,090) and there is a balan of £72,343 al the year end. The transfer out relates lo the capital expenditure during the year. {11 The NHS Education Department in support of one of the nurses who is completing an apprenticeship lo become a registered nurse. Page 26
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 29132 ST. LUKE'S OXFORD IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17. ststomont of funds {continuedl ststement of funds - prior y9ar Restated balance at 1 April 2023 Balance at 31 March 2024 Transfers inloul Income Expenditure Unrestricted funds General funds 5,209,591 4,767,868 {4,556,7531 228,384 5,649,090 Restrlcted funds Infection control grant Development fund Stsff salary and apprenticeship fund Staff retention Care chair 711 17111 12,3811 1225,0951 110,969 125,090 8,583 3,625 11,050 5,916 3,500 114,6751 15,9161 {3,2891 211 115,305 145,556 123,6831 1228,3841 8,794 Total of funds 5,324,896 4,913,424 {4,580,4361 5,657,884 18. Summary offunds Summary offunds - current year Balance at 31 March 2025 Balance at 1 April 2024 Income Expenditure General funds Restricted funds 5.649.090 8,794 4,833.307 63.760 14.628.857) 5,853.540 72.554 5.657,884 4,897.067 14.628,8571 5,926.094 Page 27
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 30132 ST. LUKE'S OXFORD IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 18. Summary of funds Icontinuedl Summary offunds - prior yoar As restated balance at 1 April 2023 Balance at 31 March 2024 Transfers inloul Income Expenditure General funds Restricted funds 5,209,591 115,305 4,767,868 {4,556,7531 228,384 145,556 123,6831 1228,3841 5,649,090 8,794 5,324,896 4,913,424 14,580,436) 5,657,884 19. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted Restricted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 7,322,348 1,151.644 1653,9921 {1,966,4601 7,322,348 1,224,198 {653,9921 (1,966.4601 72,554 Total 5,853.540 72,554 5,926,094 Analysls of net assets between funds- prlor year Unrestricted funds 2024 Reslricled funds 2024 Total funds 2024 Tangible fixed assets Current assets 7,389,256 1,269,917 1747,6051 {2,262,4781 7,389,256 1,278,711 1747,6051 {2,262,4781 8,794 Creditors due within one year Creditors due in more than one year Total 5,649,090 8,794 5,657,884 Page 28
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 31132 ST. LUKE'S OXFORD IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 20. Reconciliation of net movement in funds to n9t cash flow from opgrating activities 2025 2024 Nel income for the year las per Statement of Financial Aclivilies) 268,210 332,988 Adjustments for: Depreciation charges Investment income Interest paid Increase in debtors Increaselldecreasel in creditors 218.296 {20,9701 162,747 169,4721 193,6131 178,975 {23,9931 191,858 178,8131 70,808 Net cash provided by operating activities 465,198 671,823 21. Analysis of cash and Cash equivalents 2025 2024 Cash in hand 252,667 305,899 22. Analysis of changes in net debt At 1 April 2024 Cash flows At 31 March 2025 Cash at bank and in hand Debt due wlhin 1 year Debt due after 1 year Liquid investments 305,899 {147.5201 (2,262.4781 770.753 {53,2321 252,667 {147.5201 296,018 (1,966,460) {70.7531 700.000 (1,333,346) 172,033 (1,161.3131 Page 29
Virtual&gnalur£ Transaction Rel 7fiF.BLP5.XRJW 14 Ctt 2025 11."42 38 BST (UTC +11 D 1 P 32132 ST. LUKE'S OXFORD IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 23. Mgmber$' liability Each member of the charitsble company undertakes to contribute to the assets of the company in the event of it being wound up while helshe is a member, or within one year after helshe ceases to be a member, such amount as may be required, not exedIng £1 for the debts and liabilities contracted before helshe ceases to be a member. 24. Related party transactions One trustee had sales of £961 12024.. £990} with a debtor balance of £12412024.. £601 relating to rent and services. There were no members of key management who had hospitsl servi$ with related parties at a reduced monthly rate in the year12024.' 1 member al a rate of £1501. Page 30