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2024-01-31-accounts

Annual Report & Consolidated Accounts for the year ended 31st January 2024

Registered charity number: 295072 | Company number: 2044219

Our Vision

Our Purpose

Our Values

A society in which every disabled person and every carer is able to take the break or holiday they want.

To enable disabled people and their families to access and enjoy amazing holidays, breaks and experiences tailored to them, to escape, relax and have fun.

accessible_forward[We are] [inclusive][. ]

We welcome everyone.

thumb_up[We are ] [change-makers][. ]

We make things happen for our guests and for disabled people.

[We are ] [caring][. ]

We care about our guests and about each other. We are guest obsessed.

sentiment_satisfied[We are ] [joyful][. ]

Fun, warmth and laughter are at the heart of everything we do.

We are hardworking .

We strive for excellence, and we do not give up.

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The Team

Trustees

At the date of signing of these accounts the Trustees of Revitalise are:

George Blunden Chair of the Board of Trustees

George joined the Revitalise Board of Trustees as Chair on 5th February 2020, taking over from Mindy Sawhney. He began working life as an adventure playground worker before establishing his career in the banking, investments and insurance sectors where he has held a number of senior executive and nonexecutive positions including with Warburg Securities, Union PLC and AllianceBernstein. George has a long association with the housing and care sectors in particular, having held a number of non-executive positions whilst working in the City, including as Chair of an alms-houses group in the 1980s, followed by the Chairmanship of Southern Housing Group; a position he held from 1992 - 2006. For the last nine years, he has been the Senior Independent Director of the insurance company Beazley plc, the Chair of Charity Bank, the specialist retail bank which lends to charities and social enterprises, and the Chair of Stonewater Housing Association. He continues as a non-executive director of the Lloyd’s subsidiary of Beazley and has recently become Chair of The Housing Finance Corporation, which funds social housing. George has a flat in Venice and likes to escape there whenever he can, to enjoy the most extraordinary city in the world.

Kevin McGuirk Chair of the Finance, Audit & Risk Committee

Kevin re-joined the Board in 2019, having previously been a Trustee until 2011/12, and is Chair of the Finance, Audit & Risk Committee. A qualified Chartered Accountant and Board Director, he spent much of his early career with KPMG, working with clients on large business transformation projects in Europe, New Zealand and Asia, and ran their Telecom Consulting practice in Hong Kong. Since leaving KPMG, Kevin has held Regional Director Finance & Resources roles for Verizon Business in both Asia Pacific and EMEA, worked as COO for a fast-growing consulting business, as Commercial Director for a highly leveraged private equity owned SME, as well as European CFO for a medium sized multi-layer marketing organisation based in the Netherlands, and CFO of The Kennel Club in London. Kevin is a keen hiker and tennis player.

Deborah Wheeler

Chair of the Quality & People Committee

Deborah, who joined the Board in September 2020, trained as a nurse at St Bartholomew’s Hospital in London, spending her clinical career in orthopaedic nursing before moving into nursing management. She has been Director of Nursing at several NHS trusts in London and became Deputy Regional Chief Nurse for NHS England South Region. More recently she moved back to a Director of Nursing post at the North Middlesex Hospital in North London, before retiring from full time work at the end of 2019. She is a Florence Nightingale Foundation Leadership Scholar and received the Chief Nursing Officer’s Gold Award for lifetime achievement in 2019. Deborah has two adult sons and lives on the London/Essex border. She is a Non-Executive Director of East London NHS Foundation Trust (a mental health and community trust), and is a Trustee of the charity Epilepsy Society, in addition to Revitalise. Deborah is churchwarden for her local church, where she is also a service leader. In her spare time, she is an avid crafter, making handmade cards which she sells to raise funds for the church.

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Cedric Moore

Cedric joined the Board in July 2022 and is a member of the Quality & People Committee. Cedric studied politics at Warwick University before embarking on a career in Human Resources. With over 30 years’ experience of working in the private, public (NHS) and voluntary sectors, Cedric has held senior HR roles in a variety of complex not for profit sector organisations: Mencap (learning disability), St. Botolph’s Project and St. Mungo’s (homelessness), the National Council for Voluntary Organisations and Quakers in Britain. He has a particular interest in employment law and employee relations, having taken a master’s degree in this field. In his spare time, he is an avid gardener, reads social history and is a supporter of the Clean Up Britain campaigning organisation.

Christopher Blue

Christopher joined the Board in February 2023 and is a member of the Quality & People Committee and the Finance, Audit and Risk Committee. Christopher’s career spans various sectors including information technology, financial services and the automotive industry. He has worked for several multi-national companies, including International Computers, Lloyds Bank and the Volkswagen Group. For the past ten years, Christopher has been running his business consultancy specialising in strategic planning, leadership development and corporate compliance. Christopher has an adult daughter with severe learning difficulties and intractable epilepsy. He was on the Board of Trustees at the Epilepsy Society for a six-year term and sits on various NHS Foundation Trust committees representing the patient experience.

Richard Senior

Richard joined the Board in February 2023. Richard brings over 25 years of London and international luxury hotel management experience to Revitalise. His expertise is in developing and driving a focussed team to deliver strong business revenues and exceptional guest services. Richard’s career began with London’s famous Dukes hotel, and he has held senior positions at Grosvenor House, The Westbury, Royal Garden and IHG. Richard has managed businesses with turnovers between £5-£38 million and teams between 20-300 employees. Over the last decade, he has worked on luxury projects, developing, leasing and managing a portfolio of ultra-high end serviced apartments within central London and overseeing the management of a family office. Richard’s ideal holiday involves sun and sea — being in a cottage on the coast by Bordeaux in early September, swimming and sunbathing during the day and barbequing and drinking some fabulous local wines in the evening.

Trustees who also served during the year were

Adam Wiltshire Resigned March 2023 William Maughan Resigned February 2023

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Senior Management Team

None of the following are directors within the meaning of the Companies Act.

At the date of signing of these accounts the senior team at Revitalise are:

Janine Tregelles CBE

Chief Executive Officer

Helen Giles MBE

Vice Presidents

Dame Judi Dench CH DBE Dame Esther Rantzen DBE Hugh Kemsley OBE Denis Green

Tim Prideaux JP DL

John Spence CBE DL The Rt. Hon. The Lord Crawshaw Arthur Smith Sir Andrew Buchanan Bt

Director of People and Culture

Kate McLeod

Chief Financial Officer (to July 2024)

Eileen Downey

Social Care Consultant

Julie Currin

Interim Chief Financial Officer (from April 2024)

Rebecca Young

Director of Income Generation and Corporate Engagement

The Senior Management Team are also referred to as the ‘Executive Leadership Team’ and ‘Key Management’.

Patron

Honorary Ambassadors

Dan Bentley

Dan has been involved with the sport of Boccia for over 12 years, being a member of the Paralympics GB team in London in 2012 and winning a gold medal at the Paralympics in Beijing in 2008.

Nick Skelton CBE

Nick’s incredible show jumping achievements include a team show jumping gold medal at the London 2012 Olympics, surpassed by an individual gold in Rio in 2016 – making him the oldest British Olympic gold medallist since 1908. Nick received an OBE for services to equestrian sport in 2012, later elevated to a CBE.

Samantha Cameron

David Smith MBE

David is the joint most successful British Boccia player in history. He was a member of the British Boccia team that won a gold medal at the 2008 Summer Paralympics in Beijing. David competed in the 2012 Summer Paralympics in London, winning a team bronze medal and an individual silver medal. At the 2016 Rio Summer Paralympics, David won an individual gold medal.

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Advisers

Solicitors

Anthony Collins 134 Edmund Street Birmingham B3 2ES

Trowers & Hamlins 3 Bunhill Row London EC1V 8YZ

Bankers

Statutory Auditor

Barclays Bank Haysmacintyre LLP 1 Churchill Place 10 Queen Street Place London London E14 5HP EC4R 1AG

Centres

Revitalise Jubilee Lodge

Grange Farm High Road Chigwell Essex IG7 6DP

Revitalise Sandpipers

Fairway Southport Merseyside PR9 0LA

Administrative and Registered Office

Revitalise Respite Holidays

Stroke Association House 240 City Road London EC1V 2PR

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Thank you to all our supporters

Revitalise is grateful for the support it receives from individuals, trusts, local councils and companies and we would like to place on record our thanks to everyone who has kindly supported our work over the past year. This includes anyone who has included Revitalise in their will and everyone who has arranged or participated in fundraising events on our behalf.

We would like to extend a special thank you to the Friends of Jubilee Lodge and the Friends of Sandpipers for their ongoing dedication and commitment to our work in their community as well as the following trusts, foundations, grant making bodies and companies for their support during 2023/24:

29th May 1961 Charitable Trust Maud Elkington Trust ABF The soldiers Charity Mickleham Trust Adint Charitable Trust Millichope Foundation Annie Tranmer Charitable Trust Morris Charitable Trust Anson Charitable Trust Oakdale Trust Bothwell Charitable Trust Paragon Trust Broome Family Charitable Trust PF Charitable Trust Bruce Wake Charitable Trust Prince Philip Trust Fund C A Redfern Charitable Foundation Richard Lawes Foundation Charles and Elsie Sykes Charitable Trust Roselands Trust CMF Charitable Trust Rothley Trust Derby & Derbyshire Disabled Soldiers Settlement Royal Naval Benevolent Trust Dixie Rose Findlay Charitable Trust Scarfe Charitable Trust Duke of Devonshire’s Charitable Trust Scouloudi Foundation Eleanor Hamilton Educational Trust Screwfix Foundation Erica Leonard Trust Simon Gibson Charitable Trust Florence Cohen Charitable Trust Sir Donald & Lady Edna Wilson Charitable Trust Fort Vale Foundation Stanton Ballard Charitable Trust Greenwood Christian Trust Susanna Peake Charitable Trust H D & B Crompton Charitable Trust The Calleva Foundation Helen Roll Charity The Florence Turner Trust Hospital Saturday Fund The Provincial/Walsh Trust for Bolton John James Bristol Foundation Thomas Sivewright Catto Charitable Settlement Lambert Charitable Trust Walker Trust Lord Faringdon Charitable Trust Walter Guinness Charitable Trust Loughton Parochial Charities Wyseliot Rose Charitable Trust York Common Good Trust

We also thank the many volunteers who gave their time and energy, fun and compassion, through their work at the Revitalise shops and centres this year. You are all, unquestionably, at the heart of the Revitalise magic. Every donation helps more disabled people and carers to get the break they deserve and need.

language To make a donation or find out more about the volunteering opportunities we offer, please visit www.revitalise.org.uk.

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Contents

Chair and Chief Executive’s Review

As we look back over six decades of providing the most wonderful respite breaks and holidays for disabled people and carers, we are proud that the spirit of our founder, Joan Brander, remains embodied in our vision, our values and in the passionate and dedicated support that our teams give to our guests day in, day out.

We were pleased to be able to celebrate via parties with our guests in both centres and with evening receptions at both the Houses of Parliament - hosted by Southport MP Damian Moore - at the beautiful Meols Hall in Southport and at a special fundraising concert held by our neighbours and partners, Chigwell School. We also used our anniversary year to launch our Give me a break advocacy campaign, a three-year programme of raising awareness of the vital nature of respite and the barriers faced by disabled people and carers in accessing adequate, or indeed any, support.

The impact of this on disabled people and carers cannot be overstated. Only 1 in 129 carers are now receiving respite, which is a staggering 37% fall since 2015. Revitalise’s recent annual guest survey has further revealed that over 60% of our audience have not had a break in the last year and over 25% of respondents have never had a break. And this when over three quarters of the carers surveyed are caring for over 50 hours per week. In addition, of those surveyed only 17% are receiving social care funding for respite.

In the current climate, this has never been more important as the external environment is immensely challenging. 1 in 8 Local Authorities are now saying they are on the verge of bankruptcy and across the sector, social care providers are responding with increasing frustration to the dire lack of funding within the system. As with many other areas of Social Care, respite is chronically under-funded, even though more and more people are being cared for in their own homes by a family member or friend. In an election year, there is a significant degree of uncertainty over what the future might bring with a change of leadership looming. However, it is unlikely that any post-election government will want to swiftly tackle the thorny issue of Social Care.

These astonishing statistics mean that for Revitalise, raising hardship funding via fundraising has never been more important. This has been challenging as the world has emerged from COVID and as the cost-of-living crisis has gripped the UK. During the pandemic, many Trusts and Foundations were immensely generous in granting funding, awarding grants in excess of what they might normally offer. This resulted in some pulling back as the pandemic waned. Then, during the cost-of-living crisis, many grant givers pivoted to address the severe hardship caused by the soaring food and fuel costs. This meant that since 2020/21 it has been challenging to raise income from Trusts and Foundations and this is certainly the case for this year. However, we have been immensely buoyed by a most generous legacy gift and by the growth we have seen across our Individual Giving, Community and Events income lines, all of which exceeded our expectations in 2023/24.

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This means that Revitalise needs to continue to be innovative in our fundraising efforts, ensuring that our messaging truly resonates with our audiences and that we are expanding our reach amongst the very many people in the UK whose lives have been in some way touched by disability. Accordingly, we began a significant review of our income streams and key messaging in late 2023, efforts which we expect to start to bear fruit in 2024/25.

From a financial perspective and in the current and extremely challenging operating environment, we are pleased to report a surplus of £344k compared with a deficit of £1,021k a year earlier. However, this was largely thanks to legacy income and the sale of Netley Waterside House, on which we will not be able to rely in future years. Over the coming year, the Board and Executive have set out a clear path to financial sustainability on which we look forward to reporting in our next set of accounts.

2023/24 was a busy year for our centres. We welcomed the highest number of guests since COVID, delivering 1,604 holidays across the year. Over two thirds of our guests (68%) took more than one break, which is a testament to the quality of the experience delivered by our dedicated teams and to the joy, friendship and fun that disabled people and carers say they enjoy on a Revitalise holiday. Many of our summer weeks were full with waiting lists, as was Christmas week. Both centres underwent formal inspections with the Care Quality Commission who upheld our ‘Good’ ratings. More guests than ever before booked a holiday when bookings opened in September 2023.

The sad sale of Netley Waterside House, which completed in September 2023, meant that some guests in the Southwest found themselves without easy access to respite breaks. For disabled people with complex disabilities, the cost of travel and availability of suitable transport options can be a significant barrier to accessing breaks. We therefore undertook a highly successful one-month trial of a new transport service, with our minibus drivers collecting guests and returning them home after the breaks. The service was free of charge. Of the guests contacted about the offer, 28% made a booking with all stating that without the service they would have been unable to take a respite break. We are really looking forward to expanding the programme in 2024/25.

People are at the very heart of what we do and are what creates the Revitalise magic. It is our people, our colleagues and volunteers, who make our breaks so special for our guests. That is why we are so pleased to see such positive results from year one of our new People Strategy and Plan, making notable reductions in our staff turnover and short-term absence, whilst doubling the number of volunteers who supported guests in our centres.

We would like to extend our heartfelt thanks to everyone who has supported us this year – our donors, supporters, volunteers, guests and colleagues. We look forward to working with you again in 2024/25 and to creating wonderful breaks so that our guests can escape, relax and have fun.

Janine Tregelles CBE Chief Executive Officer

George Blunden BEM Chair of the Board of Trustees

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Hear from our guests

People like Harj

Fifteen years ago, Harj was married and had just welcomed a baby son into the world. He was working as a fitness and wellbeing instructor at a well-known gym. He had a huge network of friends and was known as someone who ‘just wanted to help anyone who needed it.’

Yet, he has lost contact with many of his friends, and he still spends a lot of time alone.

His sister describes why a break away is so important to him, ‘It’s not just the holiday, it’s having something to look forward to.’

Then he received the devastating diagnosis of MS. The disease progressed quickly, and his life is changed forever.

He lives on his own and relies on professional carers to meet his daily needs. His mum visits him at least three times a week and he sees his son every Saturday. On Fridays, he and his carer go out for a couple of hours. His neighbour calls in on him every evening to make sure that he is OK and is in the right position to sleep comfortably.

It’s important to his mum too. She spends almost all her time thinking about how to make life better for Harj. She does his cleaning, laundry and cooks all his meals. She needed a break too. If she does get away to visit other family, she cooks and freezes meals in advance and makes arrangements with family members to call in on Harj. When Harj goes to our holiday centre, Jubilee Lodge, she knows that he is getting all the care he needs, that his meals are prepared and that he is having a good time.

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Harj
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Hear from our guests

Andrew Bundy

Andrew has been coming to Revitalise holiday centres for at least 10 years. He’s made loads of friends over the years, and they’ve kept in touch. They try to arrange to take a holiday together, but most of his friends were unable to join him this year because they just couldn’t get the funding. Andrew was doing voluntary work for the ambulance service before the pandemic but that came to an end. A group he belonged to also closed during Covid and has not re-opened, meaning that life can be very isolating.

Andrew is 50 and was born with Spina Bifida andhydrocephalus. He had a wound in his left heel which would not heal, and he had to have it amputated. He lives on his own and has carers who

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Andrew
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come in three times a day. His mother and two sisters help out whenever they can.

“Everybody needs a break. My carers need a break. My family needs a break. I need a break.”

“I get a lot out of it, I like coming. I like going out, meeting other people, doing things.”

And the Mawdsley Family

Jo, Alex, William and Tom have been supported by Revitalise since July 2017. Brothers William and Tom have a rare, genetic, life-threatening disorder called CDG, which will limit their lifespan but mum and dad Jo and Alex strongly believe that it is quality of life which matters most and are determined that the boys should lead fun-filled lives. Whilst the boys’ personal budgets fund some of their respite, Jo and Alex work hard and save money so that the boys can visit Revitalise Sandpipers several times a year.

Tom loves Revitalise. He loves ‘the activities, the freedom it gives him to be himself in an environment where he fits in, where he’s accepted. Society is not always nice to people who are different. When they come home, they’re both buzzing.’

William has started to deteriorate physically and is in a lot of pain, which affects his behaviour, but Jo notices the difference when he comes back from their Revitalise holiday. The nurses at Revitalise manage his pain so well that he comes back ‘a completely different person’ – ‘it’s like getting my son

back.’ Both boys have outlived their doctor’s expectations.

Jo doesn’t think there is enough funding out there for many disabled people to get a break.

‘The services that you guys provide for me. It’s been kinda life-saving… there is nothing else out there that just gives you the reprieve you need while allowing my boys to be happy and free. It’s awe inspiring. The energy and the happiness you feel when you arrive at that damn good door… and the staff, they’re outstanding. I can’t thank them enough.’

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William
and Tom
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Public benefit

This year we have provided financial assistance totalling over £440,000 to subsidise the cost of breaks for our guests. Access to funding for a break is a critical issue for disabled people after many years of cuts to social care funding. We are determined to make a break as financially accessible as we can, for as many people as we can.

Over £107,000 of this funding was specifically to support 150 people in hardship, many of whom were at breaking point. The balance was used to offer reductions to attract those less able to pay.

In total 868 breaks were provided with some form of financial subsidy applied.

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Strategic Report

Review of Activities in the Year

Achievements in 2023/24:

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Future Plans

Improving our financial sustainability

Like many charities, the COVID-19 pandemic and the cost of living crisis that succeeded it had an enormous impact on our income. As a result, the charity has delivered significant deficits since 2020. The Board of Trustees and Executive Leadership Team recognise how imperative it is to ensure greater financial sustainability and secure the long-term future of the charity and in 2024/25 it is anticipated that we will maintain an operational deficit of £788k. In 2025/26, we plan to deliver a breakeven budget by focusing on the following areas:

Investing in people

We will implement the second annual plan to further the achievement of the objectives set out in our three-year People Strategy and intentions under five themed priorities:

We will continue to seek to achieve these objectives by ‘mainstreaming’ awareness and capability into the day-to-day practice of all our line managers, at all levels, in the way they work with their teams.

As well as careful monitoring and evaluation of the relevant data, we will measure our progress towards achievement of our people goals by carrying out a comprehensive employee survey during the year.

We are also reviewing every area of non-payroll expenditure with the aim of finding savings whilst not deteriorating our offer to guests.

The ‘Give me a Break’ appeal

In 2024/25, we will build on the success of this year’s campaign. In an election year, elevating national awareness of the critical role fulfilled by unpaid family carers and the vital nature of respite breaks in preserving and supporting the caring relationship, is imperative. We are therefore planning a 3-phase campaign, starting in Carer’s Week and continuing throughout the election and into our Christmas appeal. As in the current year, powerful guest stories will be the bedrock of our campaign and we will utilise the media coverage as a springboard from which to amplify our fundraising efforts and engage new donors and funders.

Improving the quality of our service delivery

Following inspections in May 2023 and July 2023 by the Care Quality Commission, we have successfully maintained our rating of GOOD at both Sandpipers and Jubilee Lodge. We have continued to review and build our internal arrangements to suppprt the quality of service delivery, and are introducing a comprehensive health and safety management system to further drive our health and safety arrangements across the charity.

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Trustees’ Report

The Trustees, who are also Directors of the charity for the purposes of Company Law, present their Annual Report and Financial Statements for the year ending 31st January 2024. The Annual Report serves the purposes of both a Trustee Report and a Director’s Report under Company Law.

Objects and Public Benefit

Our objects

are to promote the welfare and rehabilitation of physically disabled persons and promote other charitable purposes.

Our services

are the provision of short breaks for people with disabilities and carers at our accessible centres, offering on-call 24-hour care, personal support and a choice of activities and excursions. Short breaks are run from Revitalise Jubilee Lodge in Essex and Revitalise Sandpipers in Southport.

Our vision

is a society in which every disabled person and every carer is able to take the break or holiday they want.

Our purpose

is to enable disabled people and their families to access and enjoy amazing holidays, breaks and experiences tailored to them, to escape, relax and have fun.

Our public benefit

can be measured first by the number of people with disabilities to whom Revitalise provides essential services, together with their carers; second, the inspirational opportunities we offer to volunteers; and third, the financial assistance we provide to help those in financial need.

The Charity Commission’s general guidance on public benefit

is referred to by the Trustees when reviewing the Charity’s aims and objectives and in planning its future activities. In particular, the Trustees consider that the new planned activities will contribute to the aims and objectives that have been set.

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Structure, Governance and Management

The Charity is governed by its Memorandum and Articles of Association, which were last amended in 2020.

Board of Trustees

The Board of Trustees (“the Board”) is responsible for the overall governance of the Charity. Trustees are appointed by the Board and although the number of Trustees is currently limited to 20, it is within the power of the Board to amend this figure if appropriate. Trustees serve for an initial term of three years, after which they can be elected by the Board to serve for a further two terms of three years each. In exceptional circumstances, they may serve for another period beyond the nine-year term, with the length to be agreed by the Board and to be no more than 3 years.

Board meetings take place 4 times a year. The Board normally meets with the Charity’s Senior Management Team, but it can also have closed sessions. It is the responsibility of the Board to develop organisational strategies in partnership with the Senior Management Team and to review operational performance, to set budgets and approve operating plans. New Trustees who join the Board receive an induction to help them understand the work of the Charity and the environment in which it operates. This aids effective and informed decision-making.

The Board delegates the exercise of certain powers in connection with the management and administration of the Charity. This is controlled through regular reporting back to the Board so that the Trustees can oversee all decisions made under delegated powers.

The Board delegates powers to the following Committees and individuals.

z Finance, Audit & Risk Committee

The Finance, Audit and Risk Committee comprises at least two Trustees and is attended by the Chief Executive and the Chief Financial Officer along with other staff members as necessary. Its role is to provide the Board with impartial advice on the effectiveness of the Charity’s financial performance, risk and control arrangements. It provides scrutiny of the Charity’s systems and processes, ensuring that these are robust and fit for purpose and ensures that risks are catalogued, along with their control systems, investigating on behalf of the Board anything that threatens or adversely affects the accomplishment of the Charity’s aims and objectives.

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z Quality and People Committee

The Quality and People Committee comprises at least two Trustees and is attended by the Chief Executive, Director of People & Culture and Quality Consultant. With respect to quality, its role is to ensure Revitalise puts the guest experience, which is a combination of high quality and safe care and excellent hospitality, at the heart of the service we offer, to assure the Board that the organisation is compliant with all regulatory and legal matters in relation to guest experience, and to ensure that the Charity has all the necessary systems and processes in place to effectively deliver quality throughout the guest experience. In regard to People, it sets and monitors the organisation’s people strategy, ensuring that pay policies are fair and competitive so that the Charity attracts and retains colleagues with the right talent and skills, and making certain that the Charity has the right Trustees and senior leaders to govern, lead and deliver objectives.

In setting pay, the Committee considers available market information, the performance of the Charity in achieving its financial objectives, and statutory obligations such as National Living Wage. In addition, the Committee maintains a strategic overview of people issues and organisational development across the Charity.

z Portfolios

There are agreed portfolios whereby individual Trustees act as a gateway for Revitalise expertise on key areas. Portfolio holders are able to convene working groups, when needed, in consultation with the Chair. There are currently no portfolios.

z Chief Executive

The Chief Executive is responsible for the day-today management of the Charity’s affairs and for implementing policies agreed by the Board. The Chief Executive is assisted by a Senior Management Team and other staff.

z Senior Management Team

The Senior Management Team assists the Chief Executive and carries out the day-to-day management of the Charity’s affairs and implements policies agreed by the Board. It is comprised of the Chief Financial Officer, the Director of Income Generation and Corporate Engagement and the Director of People & Culture.

Financial Review

Financial performance

The financial statements for the year show a surplus of £344k compared with a deficit of £1,021k a year earlier. The underlying operating deficit was £717k, compared to a deficit of £1,024k the previous year, the difference being largely due to legacy income. We recognised a gain on disposal of Netley Waterside House of £1,126k in 2023/24.

Income for the year was £9,655k up from £6,898k in 2022/23. This includes the gain on the sale of Netley Waterside. As we returned fully to our holiday offer, income in our Centres increased by about £1m. Trading income from our shops accounted for about £200k of the increase with the remainder coming from legacy income as noted above. Offsetting growth in income, expenditure in the year was £9,259k, up from £7,922k in 2022/23. The cost of running both our holiday centres and our shops more than offset the increased income that they generated as salaries, utilities and other running costs continued to grow.

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Sources of Revenues and Use of Expenditure

Our sources of revenues and use of expenditure are as follows:

Income 2023-24
2022-23
£’000
£’000
Charitable activities 5,555
4,446
Other trading activities 1,663
1,446
Donations & legacies 1,254
971
Investment income 70
35
Other income 1,113
0
9,655
6,898

Income 2023-24 Income 2022-23

Charitable activities Other trading activities Donations & legacies Investment income Other income

Expenditure 2023-24
2022-23
£’000
£’000
7,352
6,336

1,431
1,117
476
469
9,259
7,922
Expenditure2023-24
Expenditure2022-23
Charitable activities
Other trading activities
Donations & legacies

Charitable activities Other trading activities Donations & legacies

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Reserves Policy

The Charity needs reserves so that it can continue its operations in the event of an unforeseen shortfall in income or increase in costs. This is important in order that we can continue to support our guests and their carers. The Charity also requires reserves to cover potential timing differences between the receipt of its revenues and its expenditure, which is largely fixed in nature. The Charity considers that a policy of maintaining unrestricted reserves equivalent to its expenditure on unrestricted charitable activities for a period of at least 3 months is appropriate; for this year this equates to a minimum reserve target of £2.3m. Unrestricted working capital funds at 31st January 2024 were £2.7m, which equates to approximately 3.5 months of expenditure cover.

Working capital was boosted in 2023/4 by the sale of Waterside House. As we continue to deliver on our strategy, including improving the environment in our Centres, we expect our free reserves to dip below the minimum set by our Reserves policy for a period of time. As noted above, we have plans in place to grow income and reduce expenditure which are expected to improve operating performance by about £800k and which should result in a break-even financial position during the 2025-26 financial year.

Reserves at 31 January were:
2024
2023
£’000
£’000
308
507
3,360
3,947
2,720
1,590
6,080
5,537
6,388
6,044
Restricted funds
Other restricted funds
Unrestricted funds
Fixed assets
Working capital
Total reserves

Investment Policy

The Charity has placed no cash into investments since 2010 and all funds are held as cash in current or deposit accounts.

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Fundraising policy

With a policy of pricing its breaks at or below the cost of providing its services, Revitalise looks to its fundraising activities to finance both its support for guests who cannot afford a break, and the further development of its existing and proposed new centres.

with its core work and insight into the lives of disabled people and carers Revitalise takes great care to ensure that it does not seek donations from people known to be in vulnerable circumstances.

This approach is supported by the Revitalise Fundraising Promise:

Revitalise is registered with the Fundraising Regulator and follows its Code of Fundraising Practice.

Revitalise carries out fundraising activities itself and does not utilise the services of any professional fundraising organisations. Revitalise fundraising comes from:

The Revitalise approach to fundraising is to build longterm relationships with supporters that sees them as partners in delivering our mission. All appeals and approaches for support are designed to reflect donors’ known communication preferences and we are mindful of the wide range of personal circumstances our supporters may find themselves in. In keeping

It is very rare for Revitalise to receive a complaint about its fundraising activities. In fact, we received no complaints in 2023/24. Should a complaint be received, it would follow our Complaints Policy, which in summary is:

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Risk Management and Internal Control

Revitalise maintains a comprehensive Risk Register. This register is the principal tool for the management of risk and the Finance, Audit and Risk Committee monitors the key risks identified.

The principal risks facing the Charity are:

z Governance and Strategy

– Revitalise draws a large proportion of its income from members of the public through donations and the use of its charitable services. Because of this it makes every effort to communicate regularly with stakeholders. It also seeks to portray a positive image in the media through regular events, press releases and promotional materials. Ensuring the organisation is well-governed, with appropriately qualified and experienced Trustees is key to managing this risk as is setting a clear strategy whose progress is regularly monitored and evaluated.

z Quality and People

z Business and Financial

– While the Charity operates with a robust set of financial controls, it continues to operate in cyclical and potentially vulnerable markets. The Charity remains committed to developing a long term sustainable financial model, holding sufficient reserves to manage through periods of reduced activity as well as to continue to invest in the future of the organisation. Regular reviews of in-year and longer-term financial plans and budgets take place to ensure that financial risks are minimised. The Charity uses a 5-year plan, an annual detailed budget, monthly accounts and reforecasts, cash flow forecasts and other regular reports, to help mitigate these financial risks.

z External (including Regulatory and Technology)

– As in 2022/23, new threats have emerged this year, including the continued cost of living crisis, uncertainty as to the timing of the UK election and war in the Middle East. The war in Ukraine continued and the impact on oil and gas prices did not abate. The Charity continues to manage the challenges that it is faced with from the external world. As with all organisations, we face external threats associated with our use of technology and we are working to improve our infrastructure and information security as well as educate our colleagues to operate safely on-line.

As part of this risk management process, the Trustees acknowledge their responsibility for the Charity’s system of internal controls and for reviewing its effectiveness. Their response to these risks is stated in the Reserves Policy above.

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Staff and volunteers

Staff

Revitalise aims to be a great place to work. We know that our colleagues get an enormous amount of satisfaction from making such a big difference to the lives of our guests. The work can also be challenging, and we are committed to providing staff with a working environment that genuinely reflects our stated values. We expect our colleagues to be absolutely guest-centred and to work hard, demonstrating high levels of skill and confidence. In return, and to enable this, we seek to deliver empowering leadership; pay and treat people fairly and transparently; support the development of their skills; and care for their physical and mental wellbeing. All staff have access to our 24/7 Employee Assistance Programme for free counselling and advice. We set clear standards for how we expect our managers to support the performance, development and well-being of staff and aim to give them the tools, resources and training to do all this well. We ensure managers and staff are accountable to their stakeholders through our 360-degree feedback process for continuous improvement in everything they do.

We aim to keep staff informed of and proud about our plans and what we are achieving, and to give every individual a voice. We have an in-house magazine and a regular two-way cascade briefing and engagement process through which everyone can be included in conversations about how we can be a great service provider and employer. Our CEO and members of the Executive Team regularly visit our centres and shops to engage with our staff as well as with guests and customers. We have a quarterly online question and answer session with the Executive Team that all colleagues are invited to join.

We are actively committed to promoting diversity and inclusion at work as in service delivery. We have policies and procedures in place to ensure that recruitment and promotion are based on aptitude and ability, and that people are treated fairly, without bias and with respect, at all stages of their employment. All our people policies are assessed in diversity impact terms. Manager and staff accountability for promoting inclusion in the workplace is built into our performance management and development scheme. 100% of our Executive Team and 57% of our Business Leaders are women. The demographics of the areas in which we operate are well reflected in the profile of the workforce in each area in terms of ethnicity and nationality. We have a very even distribution of ages between the main bands between 21 and 65, and our oldest employee is 81 years of age. 15% of our colleagues have disabilities and we work closely with our occupational health advisors to ensure that we make the right adjustments to support our staff with disabilities to join us and carry out their roles effectively.

Volunteers

Volunteers play a critically important role at Revitalise; our guests give us feedback on how much our volunteers help to enhance their enjoyment by socialising, engaging them in activities and supporting with excursions. Our volunteers themselves have consistently given outstanding experience of volunteering, the incredibly significant impact their contribution makes to the guest experience, and the extent to which volunteering for us has enabled them to appreciate the challenges faced by people with disabilities and their carers. Our shop volunteers continue to help us generate much needed additional income to add to the quality of the holiday experience.

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Statement of Trustees’ Responsibilities

The Trustees (who are also directors of Revitalise Respite Holidays for the purposes of company law) are responsible for preparing the Trustees’ report, the strategic report, and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company, and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

In so far as the Trustees are aware:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The Trustees of the Charity guarantee to contribute an amount not exceeding £1 to the assets of the Charity in the event of winding up. The total number of such guarantees at 31st January 2024 was 6. The Trustees are Members of the Charity, but this entitles them only to voting rights. The Trustees have no beneficial interest in the company or the Charity.

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

The Trustees’ Report and the Strategic Report are hereby approved. By order of the Board of Trustees

Rebecca Young

Company Secretary 19th July 2024

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Independent Auditor’s Report

to the Members of Revitalise Respite Holidays

Opinion

We have audited the financial statements of Revitalise Respite Holidays for the year ended 31 January 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows 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 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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

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Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ 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.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 26, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial 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 charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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Auditor’s responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of noncompliance with laws and regulations related to the use of restricted funds, care quality compliance and compliance with employment law, 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 Companies Act 2006 and Charities SORP.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to depreciation charges. Audit procedures performed by the engagement team included:

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 misstatement in the financial statements or non-compliance 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 instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

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Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an Auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members, as a body, for our audit work, for this report, or for the opinions we have formed.

Lee Stokes

(Senior Statutory Auditor)

For and on behalf of Haysmacintyre LLP,

10 Queen St Place, London EC4R 1AG

19th July 2024

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Revitalise Respite Holidays

Statement of Financial Activities (SOFA) for the year ended 31 January 2024

Unrestricted Restricted
Total Unrestricted Restricted
Total
Funds
Funds
2024
Funds
Funds
2023
Notes
£’000
£’000
£’000
£’000
£’000
£’000
Income from:
Donations and legacies
2
1,009
245
1,254
445
526
971		 Unrestricted Restricted
Total Unrestricted Restricted
Total
Funds
Funds
2024
Funds
Funds
2023
Notes
£’000
£’000
£’000
£’000
£’000
£’000
Income from:
Donations and legacies
2
1,009
245
1,254
445
526
971
Charitable activities:
1G		 5,555
-
5,555
4,446
-
4,446
Other trading activities 1,663
-
1,663
1,446
-
1,446
Investment income 70
-
70
35
-
35
Other income 1,113
-
1,113
-
-
-
Total income
Expenditure on:
Raising funds
9,410
245
9,655
6,372
526
6,898
476
-
476
469
-
469
Charitable activities 6,908
444
7,352
5,089
1,247
6,336
Other trading activities 1,431
-
1,431
1,117
-
1,117
Total expenditure
3, 5
Net income/(expenditure)
8,815
444
9,259
6,675
1,247
7,922
595
(199)
396
(303)
(721)
(1,024)
Net (losses) / gains
on investments:
10		 (52)
-
(52)
3
-
3
Net movement in funds 543
(199)
344
(300)
(721)
(1,021)
Reconciliation of funds:
Total funds brought forward		 5,537
507
6,044
5,837
1,228
7,065
Total funds
carried forward
15, 16
6,080
308
6,388
5,537
507
6,044

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Company Number: 2044219

Revitalise Respite Holidays

Balance Sheet as at 31 January 2024

Notes
Fixed assets
Tangible assets
9		 2024
2023
£’000
£’000
3,360
3,895
-
52
3,360
3,947
2
11
1,091
784
2,966
2,580
4,059
3,375
(1,031)
(1,266)
3,028
2,109
6,388
6,056
-
(12)
6,388
6,044
308
507
3,360
3,947
2,720
1,590
6,080
5,537
6,388
6,044
Investments
10
Current assets
Stocks
11
Debtors
12
Bank deposits and cash
13
Liabilities
Creditors - amounts falling due within one year
14
Net current assets
Total assets less current liabilitiess
Creditors - amounts falling due after more than one year
14
Total net assets
The funds of the charity
Restricted funds
15
Unrestricted funds
Fixed assets
16
Working capital
16
Total charity funds
The financial statements on pages 31 to 55 were approved by the Board of Trustees and authorised for
issued and are signed on their behalf by:

George Blunden George Blunden, Chair 19th July 2024

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Revitalise Respite Holidays

Cash Flow Statement for the year ended 31 January 2024

Cash fows from operating activities
Net cash utilised		 2024
2023
£’000
£’000
(1,398)
(948)
Cash fows from investing activities
Dividends, interest and rents from investments		 70
35
Purchase of investments -
(13)
Purchase ofplant,plant and equipment (737)
(959)
Disposal of fxed asset 2,451
-
Net cash provided by / (used in) investing activities 1,784
(937)
Change in cash and cash equivalents in the reporting period 386
(1,885)
Cash and cash equivalents at the beginning of the reporting period 2,580
4,465
Cash and cash equivalents at the end of the reporting period
Reconciliation of net income to
net cash fow from operating activities:
Net movement in funds for the reporting period
asper the statement of fnancial activities
2,966
2,580
2024
2023
£’000
£’000
344
(1,021)
Adjusted for:
Depreciation charge		 230
207
Dividends, interest and rent from investments (70)
(35)
Proft on the disposal of fxed assets (1,409)
-
Losses/(gains) in investments 52
(3)
Decrease in stocks 9
1
(Increase) / decrease in debtors (307)
130
(Decrease) in creditors (235)
(210)
(Decrease) in defned beneftpension scheme liability (12)
(17)
Net cash utilised by operating activities
(1,398)
(948)

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

1. Accounting Policies

A General information

Revitalise Respite Holidays is a private charitable company limited by guarantee incorporated in England (company number 2044219, charity number 295072). The registered office and principal place of business is at 240 City Road London EC1V 2PR.

The charitable company’s principal activity is creating revitalising holidays for disabled people and carers.

B Basis of accounting

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, the requirements of the Companies Act 2006 and under the historical cost convention, except as modified for the annual revaluation of fixed asset investments. Within the definitions of FRS 102, the charitable company is a public benefit entity. The financial statements have been prepared in accordance with the accounting policies set out in more detail below, to comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association of the charitable company, and Accounting and Reporting by Charities: the Statement of Recommended Practice for Charities (SORP 2015) (Second Edition, effective 1 January 2019). Figures are presented in sterling and rounded to the nearest pound.

C Going concern

The Charity’s activities, current financial position, and factors likely to affect its future are set out in the Trustees’ report. The Trustees have reviewed forecasts and cash reserves and concluded that the Charity has sufficient cash reserves to continue in operation for at least 12 months after the signing of the accounts. Although it is not certain that these efforts will be successful, the Trustees have taken action to mitigate the known uncertainties and are not aware of any material uncertainties regarding the Charity’s ability to continue as a going concern and deliver its charitable objectives for at least the next 12 months. Therefore, the accounts have been drawn up on a going concern basis.

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

1. Accounting Policies (Continued)

D Donations

Donations and gifts are included in full in the statement of financial activities when received.

E Grants

Revenue grants are credited to the statement of financial activities when received or receivable whichever is earlier.

Where unconditional entitlement to grants receivable is dependent upon fulfilment of conditions within the charity’s control, the income is recognised when there is sufficient evidence that conditions will be met. Where there is uncertainty as to whether the charity can meet such conditions, the income is deferred.

F Legacies

Income from legacies is accounted for on a receivable basis and is recognised in full in the financial statements in the period in which probate is granted, and where there is certainty of entitlement and the sum to be received.

G Income from charitable activities

Fees from breaks, holidays, continuing care and day services are recognised in the financial statements in the year in which the break or holiday occurs or the service is provided.

H Other trading activities

Income from the sales of goods and services is derived from ordinary activities and is stated net of VAT.

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

1. Accounting Policies (Continued)

I Gifts in kind

Gifts in kind represent assets donated for distribution or use by the charity. Assets given for use by the charity are recognised when receivable. Gifts in kind are valued at the amount the charity would otherwise have paid for the assets. Donated goods for resale through charity shops are not recognised in the financial statements as gifts in kind.

J Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis and, because the charity is unable to recover any UK Value Added Tax paid, inclusive of that irrecoverable VAT. Expenditure is allocated to the particular activity where the cost relates directly to that activity. Overhead and other costs not directly attributable to particular functional activity categories are apportioned over the relevant categories on the basis of the activities given below.

Cost type
Basis of allocation
Office and HQ costs
Space and facilities used
Operational management
Activity numbers in centres e.g. guest weeks
Information technology
Resources supported per department
Volunteer recruitment
Volunteer numbers supplied
Booking services
Numbers of guests booked
Marketing
Proportion of resources used

The costs shown under charitable activities by objective are the gross costs of running services. Staff are not allowed to carry forward holidays and therefore no provision is required. Staff termination costs are accounted for in the year in which they fall due.

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

1. Accounting Policies (Continued)

K Fundraising costs

Fundraising costs consist of the payroll costs of fundraisers together with their office costs and specific fundraising expenditure. Also included are associated IT and premises costs as well as an element of common central costs as above.

L Governance costs

These are the costs associated with the governance arrangements of the charity which relate to the general running of the charity as opposed to costs associated with fundraising or charitable activities. The costs will normally include external audit, legal advice for trustees and costs associated with constitutional and statutory requirements such as the cost of trustee meetings.

M Operating leases

Rentals payable under operating leases are charged to the Statement of Financial Activities over the period of the lease on a straight-line basis.

N Pension costs

The charitable company operates two defined contribution pension schemes with Nest and the Pensions Trust. The assets of the schemes are held separately from those of the charitable company in independently administered funds. The pension cost charge represents contributions payable under the scheme by the charitable company to the fund.

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

1. Accounting Policies (Continued)

O Capitalisation policy and depreciation

Fixed assets, being assets with a useful life greater than one year, are stated at cost. Items purchased with a value greater than £500 are capitalised.

Depreciation is provided on fixed assets capitalised in the financial statements in order to write off the cost of each asset over its expected useful life on a straight-line basis, as follows:

----- Start of picture text -----
Cars 3-5 years
Buses 3-5 years
Building equipment 5 years
Office equipment 5 years
IT systems 3 years
Operating equipment 5 years
Freehold and leasehold buildings:
Freehold Buildings 50 years
Freehold Improvements 10 years
Leasehold Buildings length of lease
Leasehold Improvements length of lease - 10 years
----- End of picture text -----

Leasehold properties are amortised on a straight-line basis over the period of the leases.

Work in progress is not depreciated as the asset has not been brought into full economic use.

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

1. Accounting Policies (Continued)

P Value of land and buildings

The charitable company’s interests in freehold and leasehold property are stated in the balance sheet at their historic cost.

Q Stocks

Stocks are stated at the lower of cost and net realisable value. In general, cost is determined on a first in first out basis and includes transport and handling costs. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow-moving and defective stocks. No value has been placed on donated goods held for resale.

R Deferred income

Income relating to future financial periods has been deferred and is shown in note 14 below. Income is deferred if the activity that it relates to takes place in a future period.

S Restricted funds

Such funds are subject to specific restrictions imposed by donors. The purposes and uses of such funds are set out in note 15 to the accounts.

T Unrestricted funds

Unrestricted funds are general funds or have been set aside at the discretion of the trustees for specific purposes as set out in note 16 to the accounts. The Fixed Asset Fund represents the net book value of tangible fixed assets after the deduction of depreciation and considering any additions and disposals in the year.

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

1. Accounting Policies (Continued)

U Foreign currencies

Transactions in foreign currencies are recorded at the rate prevailing at the date of the transaction. Monetary assets and liabilities are re-translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the Statement of Financial Activities.

V Transfers between funds

Transfers are made from or between restricted funds when this is allowed by the terms of the donation or where permission has been obtained from the donor. Transfers are made from or between unrestricted funds following approval by the trustees.

W Debtors / Creditors Policy

Short term debtors are measured at transaction price, less any impairment. Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

X Significant Judgements Policy Statement

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company’s accounting policies. In the opinion of the trustees, the only estimate considered to be critical is estimating the useful economic life of tangible fixed assets.

Y Financial Instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and other accounts receivable and payable, and loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income statement.

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

Unrestricted
Restricted
Total 2024
£’000
£’000
£’000
2. Donations and legacies
Donations, Grants and Gifts
206
245
451		 Unrestricted
Restricted
Total 2024
£’000
£’000
£’000
2. Donations and legacies
Donations, Grants and Gifts
206
245
451
Legacies 803
-
803
Total
1,009
245
1,254
Unrestricted
Restricted
Total 2023
£’000
£’000
£’000
Donations, Grants and Gifts
188
526
714
1,009
245
1,254
Legacies 257
-
257
Total
Donations received from the Trustees during the year
445
526
971
2024
2023
£’000
£’000
5
1
3. Total expenditure
This is stated after charging:
Audit fees		 2024
2023
£’000
£’000
31
28
Depreciation 231
207
Operating rentals
- equipment
- London Ofce rental
- other assets		 (21)
47
58
46
296
231
595
559

During the year 1 trustee (2023: 3) received reimbursement of travel costs including those paid direct by the charity totalling £47 (2023: £700) but no emoluments.

During the year, trustees’ indemnity insurance was provided at a cost of £2,800 (2023: £1,137).

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

Revitalise Respite Holidays
Notes to the Accounts
for the year ended 31 January 2024		 Revitalise Respite Holidays
Notes to the Accounts
for the year ended 31 January 2024
Central
2024
Admin
Reservations
IT
Marketing
Total
£’000
£’000
£’000
£’000
£’000
4. Support costs directly attributed to services and fundraising activities
Fundraising costs
11
-
23
9
43
Breaks for disabled
people and carers		 1,029
162
93
498
1,782
Total
Fundraising costs
1,040
162
116
507
1,825
Central
2023
Admin
Reservations
IT
Marketing
Total
£’000
£’000
£’000
£’000
£’000
33
-
16
10
59
Breaks for disabled
people and carers		 1,038
191
114
467
1,810
Total
1,071
191
130
477
1,869

For details on apportionment basis see note 1h above.

42 | Annual Report & Consolidated Accounts

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

Direct Overheads &
Direct
Discounts/
2024
Staf Costs Support Costs
Other Depreciation Subsidiaries
Total
£’000
£’000
£’000
£’000
£’000
£’000
5. Analysis of total expenditure
Raising funds
Investment for future fundraising
-
-
80
-
-
80		 Direct Overheads &
Direct
Discounts/
2024
Staf Costs Support Costs
Other Depreciation Subsidiaries
Total
£’000
£’000
£’000
£’000
£’000
£’000
5. Analysis of total expenditure
Raising funds
Investment for future fundraising
-
-
80
-
-
80
Management -
43
-
-
-
43
Legacies -
-
31
-
-
31
Trusts -
-
89
-
-
89
Corporate and events -
-
233
-
-
233
Total
-
43
433
-
-
476
Charitable activities in furtherance of the charity’s objectives:
Breaks for disabled
3,439
1,782
1,463
197
440
7,321
people and carers
-
43
433
-
-
476
Governance costs -
-
31
-
-
31
Total
Other trading activities
Costs of charity shops
3,439
1,782
1,494
197
440
7,352
776
-
614
33
-
1,423
Costs of other activities -
-
8
-
-
8
Total
Total expenditure
776
-
622
33
-
1,431
4,215
1,825
2,549
230
440
9,259

Annual Report & Consolidated Accounts | 43

revitalise.org.uk

Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

Direct Overheads &
Direct
Discounts/
2023
Staf Costs Support Costs
Other Depreciation
Subsidiaries
Total
£’000
£’000
£’000
£’000
£’000
£’000
5. Analysis of total expenditure (continued)
Raising funds
Investment for future fundraising
-
-
82
-
-
82		 Direct Overheads &
Direct
Discounts/
2023
Staf Costs Support Costs
Other Depreciation
Subsidiaries
Total
£’000
£’000
£’000
£’000
£’000
£’000
5. Analysis of total expenditure (continued)
Raising funds
Investment for future fundraising
-
-
82
-
-
82
Management 0
59
-
-
-
59
Legacies -
35
35
Trusts -
-
80
-
-
80
Corporate and events -
-
213
-
-
213
Total
0
59
410
-
-
469
Charitable activities in furtherance of the charity’s objectives:
Breaks for disabled
2,869
1,810
1,189
179
266
6,313
people and carers
0
59
410
-
-
469
Governance costs -
-
23
-
-
23
Total
Other trading activities
Costs of charity shops
2,869
1,810
1,212
179
266
6,336
651
-
430
24
-
1,105
Costs of other activities -
-
12
-
-
12
Total
Total expenditure
651
-
442
24
-
1,117
3,520
1,869
2,064
203
266
7,922

The ‘Overheads and support costs’ shown above include the full costs of providing accommodation and management support for the fundraising department, along with the costs of providing marketing, public relations, and communications for the department.

The total direct staff costs and the direct depreciation costs shown above include only those costs which can be directly attributed to an activity. The total staffing costs for the organisation are shown in note 6 below which incorporates the costs of both direct and indirect staffing. Governance costs comprise audit costs as per note 3.

44 | Annual Report & Consolidated Accounts

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

Revitalise Respite Holidays
Notes to the Accounts
for the year ended 31 January 2024
6. Staf costs
Staf costs and numbers were as follows:
Salaries		 2024
2023
£’000
£’000
4,482
3,752
Social securitycosts 401
344
Otherpension costs 118
99
Redundancy/termination costs 21
6
5,021
4,201
Total emoluments paid to staf (excluding social security costs)
4,620
3,857
During the year, the charity also spent £582,874 (2023: £672,984) on agency stafng.
The number of employees whose emoluments amounted
to more than £60,000 in the year was as follows:
2024
2023
No.
No.
£150k - £160k
1
1
5,021
4,201
4,620
3,857
£140k - £150k
-
-
£130k - £140k
-
-
£120k - £130k
-
-
£110k - £120k
-
1
£100k - £110k
1
-
£90k - £100k
1
-
£80k - £90k
3
2
£70k - £80k
-
-
£60k - £70k
2
2
Total pension contributions for these employees were £19,104 (2023: £11,608).
Total remuneration paid to key management
in the year was as follows:
2024
2023
£’000
£’000
Remuneration paid to key management
634
596
Key management are as described in the Trustees’ Report and are also
referred to as the ‘Senior Management Team’ and ‘Executive Leadership Team’

Annual Report & Consolidated Accounts | 45

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

Revitalise Respite Holidays
Notes to the Accounts
for the year ended 31 January 2024
6. Staf costs (continued)
The average number of employees in theyears was as follows:		 2024
2023
£’000
£’000
165
149
Full time equivalents:
Breaks for disabledpeople and carers		 79
69
Fundraising 5
6
Support services 21
22
Charityshops 29
25
7. Major component parts of expenditure
Stafng, agency, training and uniform costs
134
122
2024
2023
£’000
£’000
5,787
5,049
Water and energy costs 591
364
Guest subsidies / discounts 440
266
Professional & consultancy fees 414
403
Rents 389
335
Property maintenance and cleaning 288
263
Depreciation 230
207
Food costs 226
172
Marketing 215
222
Insurance 212
184
Vehicle running costs 125
81
Event costs 89
70
Medical sundries 75
125
Telephones and postage 71
62
Other 68
76
Stationery and printing 37
35
Cost of sales 2
8
Total
9,259
7,922

46 | Annual Report & Consolidated Accounts

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

8. Taxation

The Charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

Freehold Land
Work in
Leasehold Land Furniture &
Motor
& Buildings
progress
& Buildings
Equipment Vehicles
Total
£’000 £’000
£’000
£’000 £’000 £’000
9. Tangible fxed assets
Cost or book value
At 1st February 2023
6,525
869
2,181
586
34810,509		 Freehold Land
Work in
Leasehold Land Furniture &
Motor
& Buildings
progress
& Buildings
Equipment Vehicles
Total
£’000 £’000
£’000
£’000 £’000 £’000
9. Tangible fxed assets
Cost or book value
At 1st February 2023
6,525
869
2,181
586
34810,509
Additions -
501
144
83
9
737
Disposals (2,681)
-
-
(181)
(38)(2,900)
Asset transfer 869
(869)
-
-
-
-
At 31st January 2024
Depreciation
At 1st February 2023
4,713
501
2,325
488
319
8,346
3,783
-
2,026
461
344
6,614
Charge for the year 105
-
68
54
3
230
Disposals (1,649)
-
-
(170)
(39)(1,858)
At 31st January 2024
Net book value
At 1st February 2023
2,239
-
2,094
345
308
4,986
2,742
869
155
125
4
3,895
At 31st January 2024
2,474
501
231
143
11
3,360

The significant reduction in freehold land and buildings cost and accumulated depreciation relates to the disposal of the Netley Waterside premises. The value of land within land and buildings that is not depreciated amounted to £696,041 (2023 - £889,300).

Annual Report & Consolidated Accounts | 47

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

Revitalise Respite Holidays
Notes to the Accounts
for the year ended 31 January 2024
10. Investments
Investment movements during the year are as follows:
Market value as at 1 February		 2024
2023
£’000
£’000
52
36
Disposal -
13
Revaluations / disposal (52)
3
Net gains on investments
11. Stocks
Goods for resale
-
52
1
6
Food Stocks 1
5
12. Debtors
Trade debtors
2
11
316
35
Other debtors 113
20
Prepayments 104
460
Accrued income 558
269

13. Bank deposits and cash
Deposits held by the charity
1,091
784
2,504
2,259
Current accounts 460
320
Cash holdings 2
1
2,966
2,580

48 | Annual Report & Consolidated Accounts

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

Revitalise Respite Holidays
Notes to the Accounts
for the year ended 31 January 2024
14. Creditors
Amounts falling due within one year:
Trade creditors		 2024
2023
£’000
£’000
206
300
Other creditors 72
292
Accruals 198
91
Taxation and social security 109
97
Deferred income 433
473
Defned beneft pension scheme liability 13
13
Amounts falling due after one year:
Defned beneft pension scheme liability
1,031
1,266
-
12
The movement in deferred income is analysed as follows:
As at 1st February 2023		 473
609
Transferred to the income and expenditure account in 2023/24 473
561
Income received in 2023/24 relating to 2024/25 433
425
As at 31st January 2024
433
473

Annual Report & Consolidated Accounts | 49

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

Income & proft
As at
on sale of		 As at
31/01/2023
investment		 Expenditure 31/01/2024
£’000
£’000		 £’000 £’000
15. Restricted funds
The following funds are derived from donations given for particular purposes
Other restricted funds
Joan Brander
23
3
(26)
-		 15. Restricted funds
The following funds are derived from donations given for particular purposes
Other restricted funds
Joan Brander
23
3
(26)
-
Longleigh foundation 6
-
-
6
ABF The Soldier’s Charity -
35
(16)
19
Royal Air Force Benevolent Fund 2
-
(2)
-
Capital Campaign 350
5
(136)
219
Interest 23
-
(23)
-
Other 103
182
(221)
64
Total restricted funds
507
245
(444)
308
Income & proft
As at
on sale of
As at
31/01/2022
investment
Expenditure
31/01/2023
£’000
£’000
£’000
£’000
Other restricted funds
Joan Brander
62
-
(39)
23
507
245
(444)
308
Longleigh foundation 15
-
(9)
6
Royal Air Force Benevolent Fund 3
-
(1)
2
Capital Campaign 947
272
(869)
350
Interest 23
-
-
23
Other 178
254
(329)
103
Total restricted funds
1,228
526
(1,247)
507

50 | Annual Report & Consolidated Accounts

revitalise.org.uk

Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

15. Restricted funds (continued)

The categories of funds above are defined as follows:

ABF The Soldiers Charity

These funds represent a block grant to support up to 63 disabled Army Veterans and their carers to have a break at a Revitalise centre. The funds are applied to the costs of guest bookings when relevant Army Veterans have a break within one of our centres.

Other Revenue funds

These funds are held for supporting guests with financial needs or for those from specific geographical areas in taking a break at a Revitalise Centre. The largest such fund is the Joan Brander Memorial Fund, which recognised income from the Eleanor Hamilton Foundation in year. Other revenue funds held are generated from restricted donations to support the work of Revitalise in other ways and include a receipt from the Calleva Foundation in year.

Capital Campaign

These funds have been received in response to the Charity’s capital campaign for the refurbishment and extension of our existing centres. A programme of works to complete the refurbishment of rooms at Jubilee Lodge is underway.

Annual Report & Consolidated Accounts | 51

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

Revitalise Respite Holidays
Notes to the Accounts
for the year ended 31 January 2024		 Revitalise Respite Holidays
Notes to the Accounts
for the year ended 31 January 2024
Income &
As at
Investment
Net income/
As at
01/02/2023 (losses)/gains Expenditure (expenditure) Transfers 31/01/2024
£’000
£’000
£’000
£’000
£’000
£’000
16. Unrestricted funds
Tangible Fixed Asset Fund3,947
737
(230)
507
(1,094)
3,360
Working Capital Fund
1,590
(737)
230
(507)
1,637
2,720
Net Movement in Funds-
9,358
(8,815)
543
(543)
-
5,537
9,358
(8,815)
543
-
6,080
Income &
As at
Investment
Net income/
As at
01/02/2022 (losses)/gains Expenditure (expenditure) Transfers 31/01/2023
£’000
£’000
£’000
£’000
£’000
£’000
16. Unrestricted funds
Tangible Fixed Asset Fund
3,178
107
(207)
(100) 869
3,947		 Income &
As at
Investment
Net income/
As at
01/02/2022 (losses)/gains Expenditure (expenditure) Transfers 31/01/2023
£’000
£’000
£’000
£’000
£’000
£’000
16. Unrestricted funds
Tangible Fixed Asset Fund
3,178
107
(207)
(100) 869
3,947
Working Capital Fund
2,659
(104)
207
103
(1,172)
1,590
Net Movement in Funds
-
6,372
(6,675)
(303)
303
-
5,837
6,375
(6,675)
(300) -
5,537

Tangible Fixed Asset Fund

The Tangible Fixed Asset Fund incorporates the value of fixed assets held by the charity and used in the provision and administration of services. Any assets purchased by the charity are paid for by the Working Capital Fund and the value of these is then transferred to the Fixed Asset Fund. Conversely, the value of depreciation charged on fixed assets for the year and impairment are passed back from the Fixed Asset Fund to the Working Capital Fund.

Working Capital Fund

The Working Capital fund represents the free reserves of the organisation. That is, unrestricted funds excluding Fixed Assets.

52 | Annual Report & Consolidated Accounts

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

17. Share capital

The Charity is a company limited by guarantee and has no share capital.

Fixed
Working
Restricted
2024
Asset Fund
Capital Fund
Funds
Total
£’000
£’000 £’000 £’000
18. Assets and liabilities representing funds
Represented by
Fixed assets
3,360
-
-
3,360		 Fixed
Working
Restricted
2024
Asset Fund
Capital Fund
Funds
Total
£’000
£’000 £’000 £’000
18. Assets and liabilities representing funds
Represented by
Fixed assets
3,360
-
-
3,360
Net current assets -
2,720
308
3,028
Creditors - due after 1 year -
-
-
-
3,360
2,720
308
6,388
Fixed
Working
Restricted
2023
Asset Fund
Capital Fund
Funds
Total
£’000
£’000 £’000 £’000
Represented by
Fixed assets
3,947
-
-
3,947
3,360
2,720
308
6,388
Net current assets -
1,602
507
2,109
Creditors - due after 1 year -
(12)
-
(12)
3,947
1,590
507
6,044

Annual Report & Consolidated Accounts | 53

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

2024 2023 £’000 £’000

19. Lease commitments

19. Lease commitments
The future minimum operating lease payments for the group and the charity are as
Within one year		 follows:
374
369
Between two and fve years 527
674
901
1,043

20. Capital Commitments

As at 31 January 2024 the Charity had made a capital commitment in respect of £200k capital expenditure to be incurred on concluding the programme of refurbishment of rooms at Jubilee Lodge (2023: £485k).

21 Related Party Transactions

There were no related party transactions during the year (2023: None).

54 | Annual Report & Consolidated Accounts

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Revitalise Respite Holidays

Notes to the Accounts for the year ended 31 January 2024

22. Pension Scheme

The Charity’s current employees are members of two defined contribution schemes, with Nest and Series 4 of the Pensions Trust multi-employer scheme. In previous years, the Charity had employees in Series 1, 2 and 3 of the Pensions Trust multi-employer scheme. These series of the scheme are defined benefit schemes in the UK.

It is not possible for the company to separately identify its assets and liabilities to enable it to account for the scheme as a defined benefit scheme. Therefore, it accounts for the scheme as a defined contribution scheme under FRS 102.

The company is required to pay additional recovery plan contributions in line with the estimated share of the Series 1 and Series 2 scheme liabilities. During the year, the contributions totalled £12,933 (2022 £17,161).

The recovery plan will be reviewed at each triennial valuation. The last such valuation was carried out as at 30th September 2020. The next two being in 2023 and 2026, which could result in a change in the contribution value.

At 30 September 2020 the valuation showed assets of £800m, liabilities of £832m and a deficit of £32m. The equivalent valuation at 30 September 2017 showed assets of £795m, liabilities of £926m and a deficit of £131m.

There is a requirement to provide in the accounts for the deficit contributions to be made under the recovery plan. This liability is stated in note 14 and the reconciliation of opening and closing provisions is as follows:

Provision at start of period 2024
2023
£’000
£’000
25
42
Unwinding of the discount factor (interest expense) 1
1
Defcit contribution paid (13)
(17)
Remeasurements – impact of any change in assumptions -
(1)
Remeasurements - amendments to the contribution schedule -
-
Provision at end of period
13
25

Provision at end of period

The provision for the defined pension scheme liability has been discounted by 5.4% as of 31 January 2024 (31 January 2023 - 4.56%).

Annual Report & Consolidated Accounts | 55

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0303 303 0145 info@revitalise.org.uk revitalise.org.uk

Revitalise Respite Holidays 240 City Road, London, EC1V 2PR Registered charity number: 295072. Company number: 2044219.

@RevitaliseCharity /RevitaliseCharity @RevitaliseNow