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2025-01-31-accounts

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YEAR 2025
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ANNUAL REPORT 2025

ANNUAL REPORT AND CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31ST JANUARY 2025

Registered charity number: 295072 | Company number: 2044219

OUR VALUES

Our Vision

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

Our Purpose

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 Values

We are inclusive. We welcome everyone.

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

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

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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TRUSTEES

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.

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.

Richard Senior

Richard joined the Board in February 2023 as the Chair of Brand & Commercial Development Committee. 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.

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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

The reduction in the senior team at the time of signing the accounts reflects the changes that have happened in the charity's operations and the intentions to transition the charity to a smaller grant-giving organisation.

PATRON

Samantha Cameron

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

HONORARY AMBASSADORS

Dan Bentley Nick Skelton CBE David Smith MBE

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ADVISORS

SOLICITORS

BANKERS

STATUTORY AUDITORS

Trowers & Hamlins Barclays Bank HaysMac LLP 3 Bunhill Row 1 Churchill Place 10 Queen Street Place London London London EC1V 8YZ E14 5HP EC4R 1AG

Anthony Collins 134 Edmund Street Birmingham B3 2ES

ADMINISTRATION 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 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 dedication and commitment to our work in their communities as well as the following trusts, foundations, grant making bodies and companies for their support during 2024/25:

ABF The Soldiers Charity

Anthony Hart Charitable Trust

Baron Davenport’s Charity

C A Redfern Charitable Foundation Davis Rubens Charitable Trust

Doris Field Charitable Trust

Eleanor Hamilton Educational Trust

Fort Vale Foundation

Fowler, Smith and Jones Trust

Gale Family Charity Trust

Harris Charitable Trust

Hazel and Leslie Peskin Charitable Trust

Helen Roll Charity

J Reginald Corah Foundation Fund

James T Howat Charitable Trust

Penderels Trust

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Shanly Foundation

Sir Donald and Lady Edna Wilson Charitable Trust The Alchemy Foundation

The Ammco Trust

The Andor Charitable Trust The Anson Charitable Trust The Boshier Hinton Foundation

The Bothwell Charitable Trust The Broyst Foundation

The Camelia Trust

The Charles & Elsie Sykes Trust The CJC Whitehouse Charitable Trust The CMF Charitable Trust

The Edith Mary Clark Foundation The Erica Leonard Trust The Florence Turner Trust

The Gerald Bentall Charitable Trust The Gilander Foundation

The Greenwood Charitable Foundation

The Hugh Fraser Foundation The Ian Askew Charitable Trust The Lambert Charitable Trust

The Louise Baylis Charitable Trust The Lord Cozens-Hardy Trust

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The Lord Faringdon Charitable Trust

The Magnus Trust

The Paget Charitable Trust

The Paragon Trust

The Rockley Charitable Trust

The Roselands Trust

The Scarfe Charitable Trust

The Stanton Ballard Trust

The Walker Trust

The Loppylugs and Barbara Morrison Charitable Trust

The Wixamatree Trust

The Wyseliot Rose Charitable Trust

Thomas Lilley Memorial Trust

Wallasey Disabled Swimming

York Common Good Trust

York Dispensary Sick Fund

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.

To make a donation, please visit www.revitalise.org.uk

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CONTENTS

Chair and Chief Executive’s Review 12
Strategic Report 15
Hear from our guests 16
Trustees’ Report 19
Statement of Trustees’ Responsibilities 27
Independent Auditors’ Report 29
Statement of Financial Activities 32
Balance Sheet 33
Cash Flow Statement 35
Notes to the Accounts 36

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itaiise

CHAIR AND CHIEF EXECUTIVE’S REVIEW

2024-25 was an immensely challenging year for Revitalise as it was the year in which the Board reached the difficult conclusion that it was no longer possible for Revitalise to deliver our specialist respite holidays, a heartbreaking development for those who have relied on us for so long.

The decision was not taken lightly, nor without every effort to prevent such an eventuality. Work to secure the organisation’s long term financial sustainability has been ongoing since 2020, when COVID-19 prevented the charity from offering respite holidays for two years, heaping pressure onto an operating model which was already under threat as a result of decades of underinvestment in social care.

Ceasing as a respite provider would have been an easier decision to have made if this were a simple case of lack of demand, but it is not. In fact, the need for respite and for Revitalise is overwhelming. It has grown in direct correlation with the real time reduction in social care support. This has increased the number of carers at breaking point caring for disabled people, whose own opportunities for social interaction, connection and participation have become ever more limited.

The challenge is all in the funding of respite, which has never been endowed as an essential service, even though the UK’s £5.8 million unpaid carers now save the UK economy £162 billion, more than the cost of a second NHS. Funding decisions for respite have always relied on a combination of individual Local Authority approach, how strongly

individuals and social workers advocate for themselves, and risk level – the potential that a carer will reach breaking point and become unable to care for a loved one, leaving the responsibility n the hands of the state. As budgets have become more stretched, respite has become increasingly out of reach for those not considered immediately ‘at risk’.Even when funding is awarded, the sum is almost never sufficient to cover the costs of supporting the individual.

Revitalise has always met this challenge by raising funds from a variety of sources but in recent years this has become increasingly difficult. The cost-ofliving crisis has affected what individuals are able to donate whilst Trusts and Foundations have been overwhelmed by applications from charities whose own resources are stretched trying to meet increased demand. It has also strained Local Authorities further, with one in four councils in England say they are likely to have to apply for emergency government bailout agreements to stave off bankruptcy in the next two financial years (2025/26 and 2026/27).

As it became clear that the funding gap for respite could no longer be met with fundraised income, the Board explored several options to secure the charity’s future, including income growth and diversification, seeking a merger or acquisition partner and cutting already stretched budgets. However, further Local Authority budget cuts in 2024 and the rise of the National Minimum Wage worsened our financial position and in August 2024 the Board concluded that with further inflation to Revitalise’s costs due in 2025 and without any realistic prospect of increases in Local

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Authority funding, it was no longer possible to continue as a respite holiday provider.

Service closure plans were initiated in early October 2024 and completed by 25th November. In early December, we entered into an agreement with Sue Ryder for the acquisition of the majority of Revitalise’s charity shops, which has safeguarded many jobs and ensures that generous donations of stock will continue to benefit vulnerable people in need of support – in this case, people at the end of their lives and their families, for whom Sue Ryder are there when it matters.

The response from our guests and supporters has of course been strong, with huge dismay and grief at the loss of such a vital service and many campaigning to save the charity. For the Board and for all our colleagues, this has been the most difficult aspect of our decision – the impact on our guests and their families. It has therefore been our priority to complete the closure as sensitively and efficiently as possible, safeguarding resources to ensure there are funds remaining for the ongoing benefit of disabled people and their families.

It was also a very difficult process for our colleagues, but the Board are hugely thankful for their incredible professionalism and focus on our guests throughout the closure process. From the moment the announcement was made, they were determined to ensure that the last holidays Revitalise offered were as memorable and special as possible, organising parties and celebrations to create wonderful memories that will live on beyond the closures.

At the time of writing, we are pleased to report that having completed the wind up of the rest of our operations, there are sufficient funds remaining to enable the charity to transition into a charitable grant maker. It is our intention to launch our new strategy and plans in late 2025 and from that point onwards to enable applications for hardship grants from disabled people and their families. We know that it does not compensate for the loss of our vital services, but we are determined to continue supporting our guests and their families, who we know need us more than ever.

We would like to extend our heartfelt thanks to all of those who have supported those in our 62 years of operation – our fundraisers, donors, ambassadors, friends, volunteers, colleagues and guests. You have all been at the very heart of the Revitalise magic.

Janine Tregelles CBE Chief Executive Officer

30 July 2025

George Blunden BEM Chair of the Board of Trustees

30 July 2025

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PUBLIC BENEFIT

£53,500

Over £53,500 of this funding was specifically to support 88 people in hardship, many of whom were at breaking point. The balance was used to offer reductions to attract those less able to pay.

£524,517

This year we have provided financial assistance totalling over £524,517 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.

692

In total 692 breaks were provided with some form of financial subsidy applied.

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STRATEGIC REPORT

Review of Activities in the Year

Achievements in 2024/25

Although we took the difficult decision to close our services this year, we are extremely proud of the incredible work our teams delivered to support disabled people and their families

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WORDS FROM OUR GUESTS AND THEIR FAMILIES

Since announcing the closure of our centres, we have been humbled and heartened by some of the wonderful messages we have received from our guests, describing the impact Revitalise has had on them and how much our vital respite holidays will be missed

Angela and Colin

To all at Revitalise:

I realise I’m probably too late to write this but I want to anyway. It’s such a tragedy you’re having to close. So many people relied on the wonderful holidays you provided.

I am so very very sad for you all.

My own husband Colin Jones, enjoyed several holidays at Jubilee Lodge and was always met with care, attentiveness, kindness as well as having fun and good conversations and stimulation, over a number of years. I’m so very grateful for those Respite weeks for him and for myself.

He sadly passed away on 20th of October but he was with you 28th June to 5th July.

My heartfelt thanks to everybody who looked after him then and in previous years.

May you go well and may there be something like it again for all those many many people who need it a Respite so badly.

With deep sadness, but also gratefulness,

Angela

Mary

I have had many wonderful holidays with Revitalise, thank you all so much.

I was always so happy in Southport, especially swimming! It has always been my favourite holiday centre. I go back to Crabhill House days when I was 16 years old and (the charity) was known as Winged Fellowship Trust! In my time, I have stayed at all the centres.

Lots of love always to all it involves, and who remember me.

Joan and Malcolm

My mum and on occasion my uncle (now sadly deceased) have stayed with Revitalise and have always enjoyed the stay and the excellent attention. We are at a bit of a loss to know where to turn now. I am sure you are aware of the importance of respite to carers, especially elderly ones.

Thank you for all your kindness and dedication over the years. We sincerely wish you good fortune for the future and hope that your closing will not go unnoticed by those who make the decisions for the respite sector.

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Sue and Lynda

It is extremely sad news about our favourite holiday destination. We’ll enjoy looking back on lots of fond memories and precious times had which will last a lifetime. Thank you for all your support over the last 16 years.

Mahmud

Elizabeth so enjoyed her annual break and to have enjoyed your hospitality for 3 weeks this summer was a godsend. Please thank the staff for looking after her.

You set a high bar and it will be tough for me to discover an equivalent. All the very best to all the staff and yourself.

Leslie

This was the only opportunity for my husband and I to have a holiday and a break. You provided such an important contribution to the wellbeing of all disabled people.

Here’s hoping such a resource will be made available in the future.

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FUTURE PLANS

As described in the Chair and Chief Executive’s joint report, it is the Board’s intention that the remaining funds of the charity should continue to benefit disabled people and their carers through the evolution of the charity into grant making as its principal activity.

The charity’s objects will remain the same, as will the charity number, so that Revitalise can continue to receive gifts from legators who name the charity in their Wills. Research is being carried out, working with Revitalise’s beneficiaries, to understand how the charity can continue to have meaningful impact, and the Board intend to formally approve the new strategy and operating model in the autumn of 2025, before opening to applications from late 2025.

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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 2025. 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 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 services - until November 2024, our services were the provision of short breaks for people with disabilities and carers at our accessible centres. It is now the charity’s intention to evolve into a grantmaking organisation to support disabled people and their carers.

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 Committees and individuals to which the delegation takes place are shown below.

The Board delegates powers to the following Committees and individuals.

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STRUCTURE, GOVERNANCE AND MANAGEMENT

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.

Senior Management Team

The Senior Management Team assists the Chief Executive and carries out the day-today management of the Charity’s affairs and implements policies agreed by the Board. The Chief Executive is currently the only member of the Senior Management Team remaining in post.

Chief Executive

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

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FINANCIAL REVIEW

Financial Performance

The financial statements for the year show a deficit of £3.7m compared with a surplus of £344k a year earlier. However it should be noted that last year the underlying operating deficit was £717k, the difference being largely due to legacy income and a gain on disposal of Netley Waterside House in 2023/24.

Income for the year was £8,284k down from £9,655k in 2023/24. Provision of holidays ended at the end of November so there were two fewer months of trading than in the previous year. Also, uncertainty around the future of the charity shops led to some underperformance there.

Offsetting growth in income, expenditure in the year was £11,976k, up from £9,259k in 2023/24. This included accounting losses on disposal of assets as well as the cost of running both our holiday centres and our shops.

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SOURCES OF REVENUES AND USE OF EXPENDITURE

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

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Charitable activities
Other trading activities
Donations & legacies
Other income
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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 2025 were £2.6m, which equates to approximately 5.3 months of expenditure cover. As the organisation evolves, the policy will be reviewed and updated.

Reserves at 31 Januar were: 2,025
2,024
y £'000
£'000
Restricted funds
Other restricted funds		 44
308
44
308
Unrestricted funds
Fixed assets		 9
3,360
Working capital 2,645
2,720
2,654
6,080
Total reserves 2,698
6,388

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Investment Policy

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

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.

Fundraising policy

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:

This approach is supported by the Revitalise Fundraising Promise:

The Revitalise approach to fundraising is to build long-term 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 2024/25. 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. As the charity transitions, key risks will be continuously reviewed and updated.

The principal risks currently facing the Charity are:

Governance and Strategy

People

Revitalise has always drawn a large proportion of its income from members of the public through donations and the use of its charitable services which leaves the charity vulnerable to reputational risk. Because of this it ensures that the organisation is well-governed, with appropriately qualified and experienced Trustees and with a clear strategy whose progress is regularly monitored and evaluated. Revitalise also communicates carefully with its stakeholders and seeks to portray a positive image in the media.

The Charity is heavily reliant on its people in order to fulfil its charitable purpose. In becoming a grant maker as its principal activity, the charity will rely on a very small number of employees which introduces a risk of impact to operations in the case of resignation or absence. The Trustees will continue to monitor this risk carefully.

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Business and Financial

External (including Regulatory and Technology)

·While the Charity operates with a robust set of financial controls, it continues to operate in a challenging economic and fundraising environment. It is planned that the funds of the Charity will be invested in the stock markets and this carries some risk. The charity also fundraises to generate income. The Charity remains committed to ensuring a long term sustainable financial model, holding sufficient reserves to manage through periods of uncertainty. Appropriate advice is taken from qualified advisors where necessary; i.e. portfolio and wealth managers. Regular reviews of in-year and longerterm 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.

As in 2023/24, new threats have emerged this year, including the continued cost of living crisis, the impact of US economic policy on the stock markets following the election and continued unrest in Ukraine. 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 continue to work to improve our information security.

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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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:

make judgements and estimates that are reasonable and prudent;

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.

In so far as the Trustees are aware:

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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 31[st] January� 2025 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 group or the Charity.

The Trustees’ Report and the Strategic Report are hereby approved.

By order of the Board of Trustees

janine tregelles

Janine Tregelles Company Secretary AA DA 30 July 2025

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INDEPENDENT AUDITORS’ 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 2025 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.

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

29

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 27, 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.

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 non-compliance 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

30

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 non-compliance 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 noncompliance 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:

there is a risk that we will not detect all� irregularities, including those leading to a material� misstatement in the financial statements or noncompliance 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 noncompliance. 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.

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 HaysMac LLP, 10 Queen St Place, London EC4R 1AG

Date: 30 July 2025

Because of the inherent limitations of an audit,

31

STATEMENT OF FINANCIAL ACTIVITIES (SOFA) FOR THE YEAR ENDED 31 JANUARY 2025

Un-
restricted
funds
Restricted
funds
Total 2025
Un-
restricted
funds
Restricted
funds
Total 2024
Notes £'000
£'000
£'000
£'000
£'000
£'000
Income and endowments
from:
Donations & legacies
2		 1,450
121
1,571
1,009
245
1,254
Charitable activities
1e		 5,080
-
5,080
5,555
-
5,555
Other trading activities 1,553
-
1,553
1,663
-
1,663
Investment income 80
-
80
70
-
70
Other income -
-
-
1,113
-
1,113
Total income 8,163
121
8,284
9,410
245
9,655
Expenditure on:
Raising funds 486
-
486
476
-
476
Charitable activities 9,352
386
9,738
6,908
444
7,352
Other trading activties 1,752
-
1,752
1,431
-
1,431
Total expenditure
3, 5		 11,590
386
11,976
8,815
444
9,259
Net income/(expenditure) (3,427)
(265)
(3,692)
595
(199)
396
Net losses on investments
10		 -
-
-
(52)
-
(52)
Net movement in funds (3,427)
(265)
(3,692)
543
(199)
344
Reconciliation of funds:
Total funds brought forward 6,080
308
6,388
5,537
507
6,044
Total funds carried forward
15, 16		 2,653
43
2,696
6,080
308
6,388

32

REVITALISE RESPITE HOLIDAYS BALANCE SHEET AS AT 31 JANUARY 2025 Company Number: 2044219

BALANCE SHEET AS AT 31 JANUA
Company Number: 2044219		 RY 2025 2025 2024
Notes £'000 £'000
Fixed assets
Tangible assets 9 9 3,360
9 3,360
Current assets
Stocks 11 - 2
Property held for resale 23 1,595 -
Debtors 12 1,225 1,091
Bank deposits and cash 13 1,018 2,966
3,838 4,059
Current Liabilities
Creditors - amounts falling due within one year 14 (611) (1,031)
Net current assets 3,227 3,028
Total assets less current liabilities 3,236 6,388
Provision for liabilities and charges (540) -
Total net assets 2,696 6,388
The funds of the charity:
Restricted funds
Fixed assets 15 - -
Other restricted funds 15 43 308
43 308
Unrestricted funds
Fixed assets 16 9 3,360
Working capital 16 2,644 2,720
2,653 6,080
Total charity funds 2,696 6,388

33

REVITALISE RESPITE HOLIDAYS BALANCE SHEET AS AT 31 JANUARY 2025 Company Number: 2044219

The financial statements on pages 32 to 56 were approved by the Board of Trustees and authorised� for issued and are signed on their behalf by:

George Blunden

George Blunden, Chair

REVITALISE RESPITE HOLIDAYS

Date: 30 July 2025

34

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 JANUARY 2025

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2025
2025 2024
£'000 £'000
Cash flows from operating activities:
Net Cash Provided (1,777) (1,398)
Cash flows from investing activities:
Dividends, interest and rent from investments 80 70
Purchase of plant, plant and equipment (251) (737)
Disposal of fixed asset - 2,451
Net cash used in investing activities (171) 1,784
Change in cash and cash equivalents in the reporting period (1,948) 386
Cash and cash equivalents at the beginning of the reporting period 2,966 2,580
Cash and cash equivalents at the end of the reporting period 1,018 2,966
2025
£'000		 2024
£'000
Reconciliation of net (expenditure)/ income to net cash flow from operating activities:
Net (expenditure)/income for the reporting period as per the statement of financial activities (3,692) 344
Adjusted for:
Depreciation charge 2,007 230
Dividends, interest and rent from investments (80) (70)
Profit on the disposal of fixed assets - (1,409)
Decrease in Investments - 52
Decrease in stock 2 9
Increase in debtors (134) (307)
Decrease in creditors (420) (235)
Increase in provision for liabilities and charges 540 -
Decrease in defined benefit pension scheme liability - (12)
Net cash provided / (utilised) by operating activities (1,777) (1,398)

35

REVITALISE RESPITE HOLIDAYS NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025

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.

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.

36

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED

FOR THE YEAR ENDED 31 JANUARY 2025

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.

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.

37

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED

FOR THE YEAR ENDED 31 JANUARY 2025

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. There were no outstanding or prepaid contributions at the balance sheet date.

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:

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

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.

38

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED

FOR THE YEAR ENDED 31 JANUARY 2025

P

Value of land and buildings

The charitable company's interests in freehold and leasehold property are stated in the balance sheet at their current market valuations.

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.

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.

39

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2025

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.

40

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2025

Unrestricted
£'000
Donations, Grants and Gifts
244
Legacies
1,206
Total
1,450
Unrestricted
£'000
Donations, Grants and Gifts
206
Legacies
803
Total
1,009
Donations received from the
Trustees during the year
Donations and legacies
2
3
Audit fees
Depreciation
Operating rentals
- equipment
- London Office rental
- other assets
Total Expenditure
This is stated after charging:		 Unrestricted Restricted
2025
£'000 £'000
£'000
244 121
365
1,206 -
1,206
1,450 121
1,571
Unrestricted Restricted
2024
£'000 £'000
£'000
206 245
451
803 -
803
1,009 245
1,254
2025
2024
£'000
£'000
3
5
2025
2024
£'000
£'000
34
31
2,007
231
21
(21)
64
58
334
296

During the year 1 trustee (2024: 1) received reimbursement of travel costs including those paid direct by the charity totalling £130 (2024: £47) but no emoluments.

During the year, trustees' indemnity insurance was provided at a cost of £2,940 (2024: £2,800).

41

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2025

4 Support costs directly attributed to services and fundraising activities

Central
Admin
Reservations
Volunteer
department
IT
Marketing
2025 Total
£'000
£'000
£'000
£'000
£'000
£'000
121
12
-
14
38
185
1,391
139
-
155
435
2,120
1,512
151
-
169
473
2,305
Fundraising
costs
Breaks for
disabled
people and
carers
Total

For details on apportionment basis see note 1h above.

Central
Admin
Reservations
Volunteer
department
IT
Marketing
2024 Total
£'000
£'000
£'000
£'000
£'000
£'000
Fundraising
costs		 11
-
-
23
9
43
Breaks for
disabled
people and
carers		 1,029
162
-
93
498
1,782
Total 1,040
162
-
116
507
1,825

42

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2025

5 Analysis of total expenditure

Direct
staff costs
Overheads &
support costs
Other
Direct
deprecation
Discounts/
Subsidies
2025
Total
£'000
£'000
£'000
£'000
£'000
£'000
Raising funds
Investment for future
fundraising		 -
-
89
-
-
89
Management -
184
-
-
-
184
Legacies -
-
13
-
-
13
Trusts -
-
133
-
-
133
Corporate and Events -
-
67
-
-
67
-
184
302
-
-
486
Charitable activities in
furtherance of the charity's
Breaks for disabled people
and carers		 2,587
2,121
2,601
1,869
519
9,697
Governance costs -
-
41
-
-
41
2,587
2,121
2,642
1,869
519
9,738
Other trading activities
Costs of charity shops 874
-
769
104
-
1,747
Costs of other activities -
-
5
-
-
5
874
-
774
104
-
1752
Business development
Business development costs		 -
-
-
-
-
-
-
-
-
-
-
-
Discontinued Activities:
Continuing and longer-term
care		 -
-
-
-
-
-
-
-
-
-
-
-
Total expenditure 3,461
2,305
3,718
1,973
519
11,976

43

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2025

5 Analysis of total expenditure continued

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

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

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED

FOR THE YEAR ENDED 31 JANUARY 2025

Salaries
Social security costs
Other pension costs
Redundancy / Termination Costs
Total emoluments paid to staff (excluding social
security costs)
Staff Costs
Staff costs and numbers are as follows:
6
2025
2024
£'000
£'000
4,643
4,482
476
401
278
118
494
21
5,891
5,022
5,415
4,621

During the year the charity also spent £215,245 (2024: £582,874) on agency staffing.

The number of employees whose emoluments amounted to more than £60,000 in the year was as follows:

was as follows:
2025 2024
No. No.
£230k - £240k 1 -
£150k - £160k - 1
£130k - £140k 1 -
£110k - £120k 1 -
£100k - £110k - 1
£90k - £100k - 1
£80k - £90k - 3
£70k - £80k 4 -
£60k - £70k 2 2

This pay includes redundancy costs as well as retention payments to key management personnel to ensure stability as the charity moves into its new chapter having withdrawn from frontline services.

45

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED

FOR THE YEAR ENDED 31 JANUARY 2025

6 Staff Costs continued

Total pension contributions for these employees were £51,288 (2024: £22,395).

Total remuneration paid to key management in the year was as follows:

2025 2024
£'000 £'000
Remuneration paid to key management 533 634

Key management personnel in the year were Janine Tregelles, Rebecca Young, Kate McLeod and Julie Currin.

The average number of employees in the year was as follows:
Full time equivalents:
Breaks for disabled people and carers
Fundraising
Support services
Charity Shops		 2025
2024
193
165
70
79
7
5
8
21
43
29
128
134

46

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED

FOR THE YEAR ENDED 31 JANUARY 2025

7 Major component parts of expenditure

2025
2024
£'000
£'000
Cost of sales 5
2
Staffing, agency, training and uniform costs 6,288
5,787
Rents 956
389
Property maintenance and cleaning 273
288
Telephones and postage 65
71
Water and energy costs 418
591
Event costs 79
89
Food costs 161
226
Medical sundries 74
75
Volunteer expenses 1
-
Insurance 198
212
Vehicle running costs 154
125
Stationery and printing 109
37
Professional & consultancy fees 429
414
Depreciation 2,002
230
Marketing 111
215
Guest Subsidies / Discounts -
440
Other 134
68
11,457
9,259

8 Taxation

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

47

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED

FOR THE YEAR ENDED 31 JANUARY 2025

9 Tangible fixed assets

Freehold land
and buildings
Work in
progress
Leasehold land
and buildings
Furniture and
equipment
Motor
vehicles
Total
£'000
£'000
£'000
£'000
£'000
£'000
Cost or book value
At 31st January
2024		 4,713
501
2,325
488
319
8,346
Additions 2
227
(36)
58
-
251
Disposals (4,715)
(728)
(2,289)
(546)
(114)
(8,392)
Asset transfer -
-
-
-
-
-
At 31st January
2025		 -
-
-
-
205
205
Depreciation
At 31st January
2024		 2,239
-
2,094
345
308
4,986
Charge for the year 1,678
-
129
199
1
2,007
Disposals (3,917)
-
(2,223)
(544)
(113)
(6,797)
At 31st January
2025		 -
-
-
-
196
196
Net book value
At 31st January
2024		 2,474
501
231
143
11
3,360
At 31st January
2025		 -
-
-
-
9
9

There were significant disposals of fixed assets in the financial year ending 31 January 2025. This is to reflect that Sandpipers was being held for sale (see note 23) and neither Sandpipers nor Jubilee Lodge were open for business after the end of November 2024 and so no future cashflows are expected from the centres. The portfolio of charity shop leases were also in the process of being exited with only some vehicles held on the Balance Sheet until they can be sold following the exit of the final shop lease which is expected in Summer 2025.

48

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2025

Investment movements during the year are as
follows:
Market Value as at 1 February
Revaluations/ Disposal
Investments
10		 2025
2024
£'000
£'000
-
52
-
(52)
-
-
Goods for resale
Food Stocks
Stocks
11
Trade debtors
Other debtors
Prepayments
Accrued income
Debtors
12		 2025
2024
£'000
£'000
-
1
-
1
-
2
2025
2024
£'000
£'000
99
316
40
113
86
104
1,000
558
1,225
1,091
Deposits held by the charity
Current accounts
Cash holdings
Bank Deposits and Cash
13		 2025
2024
£'000
£'000
-
2,504
1,018
460
-
2
1,018
2,966

49

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2025

14 Creditors Consolidated 2025 2024
£'000 £'000
Amounts falling due within one year
Trade creditors 50 206
Other creditors 73 72
Accruals 81 198
Taxation and social security - 109
Deferred income 281 433
Defined benefit pension scheme liability 126 13
611 1,031
The movement in deferred income is analysed as
follows:
£'000 £'000
As at 1st February 2024 433 473
Reversal of prior year accrual (433) (473)
Update to reflect amounts due to return on wind up 281 433
As at 31st January 2025 281 433

50

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2025

15 Restricted Funds

The following funds are derived from donations given for particular purposes:

As at
31/01/2024
Income and
profit on sale of
investment
Expenditure
As at 31/01/2025
£'000
£'000
£'000
£'000
Other restricted
funds
Joan Brander -
-
-
-
Longleigh foundation 6
-
(6)
-
ABF The Soldier's
Charity		 19
-
(19)
-
Royal Air Force
Benevolent Fund		 -
-
-
-
Capital Campaign 219
5
(224)
-
Interest -
-
-
-
Other 64
116
(137)
43
Total restricted fund 308
121
(386)
43

51

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2025

15 Restricted Funds continued

15
Restricte un		 As at 31/01/2023
Income and profit on
sale of investment
Expenditure
As at 31/01/2024
continue
£'000
£'000
£'000
£'000
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 fund 507
225
(424)
308

The categories of funds above and defined as follows:

These funds represent a block grant to support up to 63 disabled Army Veterans and their ABF The Soldiers carers to have a break at a Revitalise centre. The funds are applied to the costs of guest Charity bookings when relevant Army Veterans have a break within one of our centres. 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 Other Revenue Joan Brander Memorial Fund, which recognised income from the Eleanor Hamilton funds 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. These funds have been received in response to the Charity’s capital campaign for the Capital refurbishment and extension of our existing centres. A programme of works to complete Campaign the refurbishment of rooms at Jubilee Lodge is underway.

52

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31 JANUARY 2025

16 Unrestricted funds

As at
31/01/2024
Income
Expenditure
Net income /
(expenditure)
Transfers
As at
31/01/2025
£'000
£'000
£'000
£'000
£'000
£'000
Tangible Fixed
Asset Fund		 3,360
251
(2,007)
(1,756)
(1,595)
9
Working
Capital Fund		 2,720
(251)
2,007
1,756
(1,832)
2,644
Net Movement
in Funds		 -
8,163
(11,590)
(3,427)
3,427
-
6,080
8,163
(11,590)
(3,427)
-
2,653
8,162
11,590
As at
01/02/2023
Income
Expenditure
Net income /
(expenditure)
Transfers
As at
31/01/2024
£'000
£'000
£'000
£'000
£'000
£'000
Tangible Fixed
Asset Fund		 3,947
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
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
Tangible Fixed charity are paid for by the Working Capital Fund and the value of these is then
Asset Fund 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.
During the year the sum of £252k was invested in capital expenditure.
Working Capital
Fund		 See reserves policy on page 23 of the Trustees' report.

53

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED

FOR THE YEAR ENDED 31 JANUARY 2025

17 Share Capital

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

18 Assets and liabilities representing funds

Fixed Asset fund
Working Capital
Fund
Restricted
funds
2025 Total
£'000
£'000
£'000
£'000
Represented by
Fixed assets 9
-
-
9
Net current assets -
3,184
43
3,227
Provisions for liabilities
and charges		 -
(540)
-
(540)
9
2,644
43
2,696
Fixed Asset fund
Working Capital
Fund
Restricted
funds
2024 Total
£'000
£'000
£'000
£'000
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

19

Lease Commitments

The future minimum operating lease payments for the group and the charity are as follows;

2025
2024
£'000
£'000
within one year 114
374
between two and five
years		 -
527
114
901

54

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED

FOR THE YEAR ENDED 31 JANUARY 2025

20 Capital Commitments

The charity has no capital commitments planned for future years (2024: £200k).

21 Related Party Transactions

There were no related party transactions during the year (2024: none).

22 Pension Schemes

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 £33,427 (2018 £32,453).

The recovery plan will be reviewed at each triennial valuation. The last such valuation was carried out at 30 September 2017. The next two being in 2020 and 2023, which could result in a change in the contribution value.

A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m.

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:

and closing provisions is as follows:
2025
2024
£'000
£'000
Provision at start of period 13
25
Unwinding of the discount factor (interest expense) -
1
Deficit contribution paid -
(13)
Remeasurements - impact of any change in assumptions 113
-
Remeasurements - amendments to the contribution schedule -
-
Provision at end of period 126
13

55

REVITALISE RESPITE HOLIDAYS

NOTES TO THE ACCOUNTS CONTINUED

FOR THE YEAR ENDED 31 JANUARY 2025

23 Property held for sale

At the year end, Sandpipers holiday centre was reclassified from a fixed asset to a noncurrent asset held for sale at £1,595k being the value of the sale price less professional fees. The sale of Sandpipers completed within the first weeks of the financial year ending January 2026.

56

Registered charity number: 295072 | Company number: 2044219

57