Registered numbgr: 02161953 Charity number. 298074 THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Limlted by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Limitod by Guarant•e) CONTENTS Page ReferenGe and Admirbistrative Detsils of the Chwitsbl¢ Company¥ its Trustees and Advlsers Trustegs, Report Indèpondent Audltors. Rèport on thè Flnanclal Statements ststement of nalJI A¢tEvlUes 3-10 15 Balance Sheot statement of Cash Flows 18 Notes to the Flnanclal Slatempnts 19-34
THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Limited by Guarantee} REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrABLE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Key Management Stsve Stokes, Chalr Personnel.. Dlrectors and Susan Dark8r lappoinled 25 July 20241 Trustee5 Anjan Baneriee (resigned 20 November 20241 Ellzabeth Irvine Karen Harrison {appolnted 23 Juty 2025) Philip Kelsey Ade Onagoruwa David Salisbury Brett Hussey (resigned 17 Dmber 20241 James Johnson Ireslgned 26 Jun8 20241 AntaneyTajah Mariyadas Iresigned 3 February 2025> Gillian Forwartl (resigned 17 April 2024) Jon Pratten, Chlef Executive Offlcer Cathy Eames, Head of Finance (appointed 3 June 20241 Jane Johnstone, Head of Finance (resigned 24 April 2024) Helen Hargreaves, Head of HR Jai Bryant. Reglstered Manager Jonquil Close Sam PeTry, Head of Operations Alaina Co818s, Registered Mar98r Supported Living & Llncoln Close Julie O'connor, Registered Manager The Pines (resigned 27 June 2024) Ann-De8n White, Rggistered manager The PiT)e8 (appointed 1 Juty 20241 Key Management Personrhel: Managers Company reglstered umbor 02161953 Charity rngistered number 298074 Reglslored office Suito 2 6 Silvor Court Watchmead Welwyn Garden City Untted Kingdom AL7 1LT Ind9p•ftd&nt audltors Hillier Hopkn'ns LLP Chartered Accountants Statutory Auditof Radius House 51 Clarendon Road Walford Hertrordshire WD17 1HP Page 1
THE JUBILEE HOUSE CARE TRUST LIMED {A Company Llmlted by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrA8LE COMPANY, IT8 TRUSTEE8 AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Bankers Bardays Bank 51 High Stre8t Hoddesden Hertfordshlre ENt18TG CCLA IrNestment M8nag8ment Ltd 85 Qug8n Victoria Street London EC4V 4ET The Charlty B8nk Ltd Fosse House 182 Hlgh Street Tonbridge Kent TN9 1BE Page 2
THE JUBILEE HOUSE CARE TRUST LIMITED {A Company Llmited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Tnjstees presanl their annual report ioggther with the audited financlal statements of the Charitable Company for the year 1 April 2024 to 31 March 2025. The Annual Report setves the purposes of both a Trusteès, report and 2 directors, report under company law. Tho Trustees confimi that the Annual Report and financial ststements of the Charitable Company comply with the current ststutory requirements. the requlrem6nls of the Chatable companls goveming document and the provisions of the Slalement of Recommended Practice {SORP} applicable to charities preparing their accounts in accordance with the Financtal Reporting Standard ap1¢abl8 in the UK and RgpubliG of Ireland (FRS102) {effective 1 January 20191. Since the Charitable Company qualifies as small under section 382 of the Companies Act 2006, the Stratsgic Report required of medium and large companies under the Companies Act 2006 {Strat8gic Report and Directors, Report) Regulations 2013 has been omitted. Our key buslness approaches in 2023124 10 2024125 have been.. To work with the most current government guidance in relaOn to th8 Health and Social care sector To reorganisè the chartty services and focus on the financial health of the organisation. We have conlnued to safety protect the Indlviduals we Support and care for, malntalnlng our ratings wlth CQC. As an organtsation we continue to be impacted by the shortage of SoGial Care staff and r8Strfctlons on fundlng from local 2nd ntral govemment. We are working in line with all govemment guidance in place for the Heamh and Social care sector. It remains the resF)onsibllity of the senior leadershlp team lo direct and deliver the response required in line with recommended guidanc2 and lo ensure that the risks for each semce are managed effectively. Each seNic& has a Service Improvement Plan and approprlate Risk Assessments in plac8 giving details of the responses required in the event of individuals we support and wider business risks. Page 3
THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Lim+ted by Guarantee TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Objectlves and acllvltles a. ObJecdv05 and activitie5 Jubilee House Care Tnjst provides quality care and support lo those wlh disabililies (including leaming disabilities), lo enhan their quality of frfe and to empower them to live ag indep8nd8nlty as possible. Our ambition is that adults and children wlh 198ming disabilitias should lead happy and ftjlfilled lives, whilst our strategy for achieving this is to provide quality support and care by underslanding th& needs of the indimduals and thrfaMil. W8 are based across Hertfordshire, but our Indiwdua18 ¢xJme from wtthin Hertfordshire as well as the Surrounding counties and several London boroughs. We offer a range of service$ for thildren and adums wth aMIng dlsab11i6S r8n9lng from resldentlal carg and supported living to short breaks and outreach $8rvic8s. In everything thal we do we aim to denionstrate our key valLtes". a cultura thal is open and honest" a supportive and cadng envlronment for both IndlvSduals and staff,. and an expectatlon of contEnual improvement. Rosldential Sorvices Wg have on9 residential servis. Jonquil Close, which provides support lo six adults who Ilv8 with Jubi188 House on a permanent basis. This r8sidential servic0 caters for differing levels of need. which frequenlty invofve physical. as well as leaming disabilities. They are supported to acce88 the community in a group or individual basis. Individuals are supported and encouraged to maximisè their full potential in all aspects of their dally INing. Supportod Llvlng For the majority of the year, we operated a small. supported living scheme in Slevenage for a young adult. This closed at the start of 2025 after funding ft)r the service made it financially unviable. We are now In the process of repurposing thls servlce, wlth reglstralbn wlth Ofsted progressing. Short Broaks Servicos The three original short break ntre$ continued to run thmghoul the year with some team change8 in the Senior Management layer. The Pines and Pe8rtree Short Breaks Centre cater for young people and children betsyeen the ages of 5 and 18. while Meadows Short Breaks Cerrtre caters for adults between the ages of 18 and 65. Wg now have 8 total of 15 beds across the three 58rvices and have been ablè to extend the level of support offered wlthln Hertfordshlre. We have oxlanded tha short break 8ervice8 to include one of our Lincoln Close propgrties to support young people. Support here is tailored around each person's specwfi¢ requirements and can range from outreach service8 lo providing a setting for eduGatton and artivitie$. This servic8 has come undèr pressure because of the need to take emergency placem8nt8 du& to a shortag8 of plaGes within Hertfordshire. Our Hazelm8re seNsce has been providing support and armmmodation for individuals r8aching adulthood who naed a service to help them trarbsition back to their families or to an adult sgrvlce. We commenced providing support in December 2019 on an outreach basis and this has developed into a seNlce for people to transition. I four s6rvlces can provide a variety of short breaks ranging from tea visits of a few houTS to longer stays of several days or more. While our contract with HertfOrdShi County Council utilises the bulk of the placements, we are always able to also provide servl¢es to Indlvlduals from other 8re8s or to those wlth personal budgets in Peartree and Meadows. All our centres are well-8qUiPP8d lo d&al with physical and learning disabilities, wth Page 4
THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Limited by Guarant•8) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Objeclives and a¢¢lvitios (G¢Yitinued) hoists and specialist bathroom equipment available if required. Activities at all three services are predominanty centre based. with a wide range of actNities taikjred to the individual interests. ability ané ages of the pathp8nts, but all servicès also utilise our wheelchalr-mendly transport seNlces to get out and about in the community as much as possible. Al services retained a 'Good' rating from Ofsted and the team continued their work to Improve the rallngs and malntain compliance. b. Volunteers and Grant Income This year th8 higher Cosl-of-Livlng Issue has impacted on voluntsering, fijndraising and Grants k)¢alty and nationally. The other major impact has bèen the managamant team have been focussing predominantly on the identtfication and delivery of efficiency. Community fvndraising has been significantty affected for all chartiies as Inme is squeezed which has led to charllles relwng on Grants and Trusts lo help them plug the income gaps. Grant making bodies have reported a véry significant rise in funding request applications which has meant that competition for grant awarts is hh. Volunteers This financtal year the volunteers helped with fundraising, PR, supportlng people and carryEng out prolects to improve our seryice pOnS. A significant input was froFn local businesses and tnjsts. Grant and Donattons Our Volunteer and Grant Coordinator submitted 58 grant gnd partnership 8pplications for a total of vae of £822.0. Due to these being larger applications and the overall position in the fund raising space we were unsuccessfvl in being awarded any funds. We did receive £21.626 worth of charitable activity and various donatlons, Inc111g a significant donation from one of the families we support. c. Publlc Bene The tfustees confim that they have complied the duty in Charitie5 Act 2011 to have due regard to the Charity Commission General Guidance on Public Benefit. when reviewing their aims and objectives and in planning future activits. In particu18r. the trustees consider how planned 8Ctivltles wil contfibute to the aim8 and objectives they have s&L d. Commerclal Actlvltles With the acute financlal pressures facing the soclal care sector and Jubilee House, the Board of Trustees agreed that more lim8 and effort shoukl be focussed on generaling unrestricted funds from assoclated commercial activities. The first of these is the creation of a Winted online store to sell donated dothes and other Items. This shop generated £954 until the end of February wh&n we decided lo slop due to the Impact on the office teams tlme. Other activities continu8 to be reviewed and assessed for their suitability and ongDing development of new ideas will continue. o. Savlngs Plan The senior team prodUd a Savings Plan al the beginning of 2025 and have identified a possible £140,000 of savlngs as¥ociated with staff changes, reductlon of supplier spend, inv8slments, 61c. Page 5
THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Limitod by Guarant•o) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Achlevements and performanGe . Maln achievomonts ol th• Charltablg Company ThroughoLrt 2024125 we have worked toward$ Ihe folk)wing objectfves.. Keeplng our Indhiduals and Team safe Our primary focus has been to ¢ontlnue protecttng the people we support and our18am from exterllal heallh challenges and procedur81 risks. We have successfully Mpleted Ihis and il remains our ongoing top prlorfty. Loss Making Services The review of the re8¢dantial aThJ supported fivir#J corrtracts wtth HCC to brfng them back to a point where they each make a fingncial Surplus wa8 compl8ted. We havo had to mako some tough decishons about our seTVtces, repuTposing Lincoln Close to a childrens short breaks service. Grow and divernify our revenug The focus on mitigating the higher Co8lwofliving impacted our ability to focus on volunteadng. fundralslng and Grants lorally and nationally. Community fundraising has bean significantly aff8Ct8d for all chariti&8 a8 available grants have been squeezed. Grant making bodies have reported a very significant rise in funding request 8pplication8. whilst we have seen a drop in available lunds which has meant the success of grant awards has bn k)w. Our strategy lo target the larger funds has also not been successful and we took the choice to stop resourcing from the central team for this wort( al the end of 2024. We a also ineligible for most small lo midsized grants due lo our tumover or reserves levels. Now of$tgd Setting We completed the pro$ of regi$tering 43 Lincoln Close as a new Otsted s8lViC8 to allow children arKI young people beiween the ages of 5 and 18 lo use the building In a short breaks capaclty. The funding for the service has come from the HCC and NHS budgets. We have been able to accommodate up to 12 children and y¢)ung people, and have navlgated as best we could the complexitles of tsklng emergency placements from HCC. R•eruitm8nt and RentIon The recruitment of new staff remained a major challenge for the charity as the volume of people wanting to work in Social Care reduced and competition from local commerclal and olher care providers increased. We agreed lo split the salary increase for the Operallons team and core Support functions, so the lary8st raise went to support staff and op&rational m8nagemenL We reffliited 30 staff b8lween April 24 and March 25 compared to 47 staff for the same perfod In the previous year. FlnanGial review . Resufts for the year Jubilee House's Income for 2024125 was £3.819,43912023124.' £3,838,991), a decrease of £19,552. Resources expertded for the same period were £3,801,44312023r24: £3,979.050), a decrease of£177.607. Page 6
THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Limited by Guarantet) TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Net10s888 on investment were £1,246 {2023124 £8.595 g8inl and other n81 gains were £nil12023124'. £nill which gave a surplus for the year of £16,75012023r24: £131,464 deficiti- During the financial year of 2024125 Jubilee House made significant changes to th& financial proc88ses 8nd team to improve the level of reporting and c08t control reviewng 811 elements of endItUr. Cost sawngs have bgen mad8 but our individual staff costs hav8 incr8as8d considerably with inflationary pay rfses. increases in both th8 Minimum Wage and National Insurance 88t by the govemmenl have not been matGh8d by the annual uplifts from the County Council. Th& reduction in over811 staff costs shown on page 27 relate to the closure of unprofitable services or movement towards tho setting wj of more Ofsted registered servic9$. Cash and cash gquivalent h8v& decreased by £207,086 to £788,762 at 31st Marth 2025. The decrease is primarily due to substanlial funds received in advan in the year to 31st March 2024 b8ing ulilised in 2024125. b. Roserves poMGy The reseryes pollcy remains unGhanged. A numbgr of designated fijnds exist to mora de8ty distinguish between funds required for contingency purposes. funds earmarked for specific projects. and funds tied up in business assets. A full broakdown of the reserves is shown in Note 17 Statement of Funds on paga 31, and this shows that OLrt of total reseNes of £1,953.848 dosignated reserves now total £2,045.774. Of this £350,000 has been set aside for Business Conbng&ncy. representing around 76% of the averagg spending of our large51 contracts for six months, which would prcsvide sufficient funds lo ensure the eontinualion of the business rf these contracts were kJ$t, Funds held in busSne9S 8ssels comprise: Property Reserve- £1,522.175 {representlng Jubilee House's properties, nel Of ou15tsnfling mortgages) Fixed A55ets - £173,599 Restricted Fund5 - £29,522 Golng ¢oncem Th8 Trustees have assessed whether the use of the golng Conrn baslg Is approprfale and have con8idered possible events or conditions that might cast signific3nt doubt on the ability of the charity to Continue as a going concern. The Trustees have made thls asse5smenl for a period of at18asl one year from the date of approval of the financial statsments. In particular, the Trustees have considered the charity's forecasts and projections and have tsken account of pressures on events. The Trustees considered the impact of the financial result made in the year, the growing difficufy in ro¢ruilment and changes in the UK WOTkforce. The charity understands the impact of the loss of a58ociated with certain services and tls broader effect on the charity this financial year and understands the urgenw for tha $8wngs plan to be ftjlly delivered. The charity has go cash and reserves position at the time of approval of these financial ststemerrt5. Havlng made an assgssmerrt. the trusteps have concluded that there is a asonable expectation thal the charity has adequate resources to continue in operational oxistence for al least 12 months from the date of the audit report of these financial statements. The charity therefo continues to aéopt the going concem basis in preparlng its finan¢lal statements. Page 7
THE JUBILEE HOUSE CARE TRUST LIMrrED (A Company Llmltod by Guaranteè) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 StruGturo. governance and management . Constltutlon The Jule8 House Care Trust Limited registered as 8 charstable company limited by guarantee aNI was sel up by a Mernorandum and Artides of Associalion. It is registered as a charity wth the Charity Commlssion. The are currently 37 members of the Company, an increase from 31 In the previous year. b. Methods of appolntment or electlon of Trustees We source new trustees through personal recommendation, advertising or by a targeted approach. Al new trustees undergo personal effectiveness interviews as part of the recruitment process in line our SBfeguarding policy ar must be doared by the Dats Barring Service, and we follow the Charity Commission's guldeEines on recruitment at each Annual Ggnèral Meding. one third of 8oard members retlre by rolatlon, with the option to stand for re-election. c. Pollcles adopted for thg induction and tralnlng of Trust0è5 New trustees undergo an induction process which Includes vlslls to all se(S and Introductions to key staff.. they are also mentored by an existing Board member. They receive a Trustee Handbook outlining the spedfic responsibilities and expeolations of both them and the Company. Ongoing training is off8red to 811 trustees and they are 8ncournged to regularfy visit Jubilee House serve8 and to participate in Jubi18e House ev8nts. d. Organl$ational structure and decision4naklng pollcles Normalty, tre Board of Trustees meets monthty, and there are bl-monthly sub-commlttèes whlch cover finance, Dperations and governance, a5 well as a remuneratlon committee which meets anllually. Each suommittee is chaired by a Trustee and also has senior management representation. Since March 2020 the Board has changed to virtual Meeng8. The Chief Executive (Jon Pratlgnl is appointed by the trustees to manage the day to d8y operations of the charity. o. Rotatsd party relatlonshlps None of our Trustees receive remuneralion or other benefrt from their work with the charity. A register of Trustees, and senior managers, Interests Is malnlalned and updated on an anntjal basis. and Twstees are excluded from decision making in any arcumstances where tY have a personal interest. f. Pay poll¢y for key management personnel The Directors, who are also the TTUStees. consider Ihat the board of directors and the management team (eomprssing Chief Executive. Head of Operations, Head of Finance, Head of HR. and the Registered Managers of the individual servlcos}, comprise the key management persi)nnel of the charlty In charge of dlrectlng and controlling. running and operating the Trust on a day404ay basis. Pay awards for all staff are vieWed by the Remuneration Committee which meets annualty and the recommend8tlons for Increases or bonuses are then 8pproved by the Board of Trustses. g. Risk managomgnl The Trustees havg a risk management strategy whith comprise8: A formal risk management pro¢ess whereby each subpcommitt88 is responsible for identifytng and Page 8
THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Slructuro, govornance and management Icontinugd) reviawing the buslness risks falling within its own area of CoTrrn, with overall ovemew by tho fvll Board of Trustees. The eslabli5htnent of policies, systems and procedures lo mitigate those risks identified. The implemantation of procedures designed to minimise or manage any potential impact on the tharity. Our key rlsk 15 that of a tsilure to adequately safeguard IndFvlduals or to provlde good quality care. To protect against this. we have a robust set of policies and procedures ensurtng that Individuals are safeguarded.. a goroLJS recrultmenl process inGludlng DBS chock and personal effeclivÈness inleNiew; a comprehenslve induction process for new staff and an ongoing training programme for existing staff,. external quality monitoring audits.. a dear policy on whisueblowng,. comprehensive Exit Interviews and o)mphenSIve health and safety policies. In a financial climate where statutory funding for learning di5abililies is becoming ever tighter, the key financial risks facing the charity are increasing agency costs as staff recruitment is become more and more (Jifficult due to hourly rates. comparative job5 that pay more and thè whole Social Care sector losing favour since the Pandemic. There is also a risk of failure to control our costs, not keep pace with increasing inflation and being unsuccessful in rertsegotiating our contracts. Stsff costs make up most of our cost base. and in an area of hig emptoyment attracting stsff at a compalitive salary is challenging. Currently services are predominarilty provide to Hertfordshire County Council, and our aim is to diversify our revenu6 b8se to increase the proportion of our revenues that are r8ceived from grant funding. or from other contractual sources. We are investigating new partnerships with other organisations which will enablg US to do this. Loss of key managem&nl pgrsonnel has also been identified as a key risk, which we mitigate by ragular benchmarking of salaries. an increased management team and overlapping skillsets. With Ihe l)ata Protection Act 2018 implementing the qUIrementS of the EU General Data Protection Regulations we have continuad to review our dats protection environment to ensure that we compty wilh the new regulations. We have a comprehensive training programme for all new staff on the requlrements of the regulaOn8. Plans for futuro pèrlods We corrtinue to focus on expandlng th8 size and servtces offered by the thadty so we can continue to exterMI our operating efficlendes, lower our Central costs and glve a grealer degree of fin8nclal securftyto our future. We are now operating 3 children's short break centres as w811 as an adult short break centre. This make5 Jubilee House the largesl provider of Childrens Short Breaks seNce in Hèrtfordshire. Due lo pressures in staff recruitment ar hourly pay rates being offered by competitots, the operational staff salaries will noed a subslantial increase in April 2026 if Jubilee House would Ilke lo remaln a MpetitiVe ernoYer in and around Nertfordshire. We also have the opportunity to take on more transition opportunliles where people are moving from local hospitals, and other services, back into the communty and family lif8. We contiriue to be focussed on growth and diver$[fi&tOn. both by tendering for new seryices in HertFordshir& or the 8Ufrounding Gountles an(1 by inGreasing the amount of SUPPK)rt provided undgr our existing servic8S. We are continuing to work io increase the percentage of our income whiGh comes from grant funding however this has been very challenging this year. We are devoting more anergy to building up relationshlps wilh local organisations to incr&ase our visibility in the kjcal community to facilitate this. Page 9
THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Limltod by Guaranlo9) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Plans for future perlods Icontlnued) We also continue to improve our c09t-effectNeness by further developing our use of lechnology to run our bLt51ness. Statsment of TTustses' responslbllltlos The Trustees (who are al$0 the dire¢tors of the Charitable Company for the purposes of company law) are responsible for prep8ring tha Twslees, Report and the financial statements in accordance wlh applicable law and United tfjngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law r8quires the Trusleos to prepare financial stslements for each financial . Under company Faw. the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of Ihg State of affairs of the charitab Company and of its incoming resourGe5 and application of resources, including its income and expenditure, for that period. In preparing these financial stslemenls. the Trustees are required to: select suitable accounting poliLies and then apply them consislentty.. obserye the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent; State whether applieable UK Accounting Standards {FRS 102) have been followed, subject lo any material departures disdosed and explained in Ihe financial statetnents., prepare the financial Statements on the going conGom basis un19s5 it is Inappropriate to presume that the Charitabl8 Company will continue in business. The Trustees are responsible for keeping adequate o¢counting rgwrds that are Sufficient to show and èxplain the Charitsble CompanV8 transactions and disclose with reasonable accuracy at any time the financAal position of the Charttable Company and enable them lo ensure that the flnanclal statements comply wlth the Companles Act 2006. They afe also responsible for safeguarding the assets of the Charitable Company and hence for taknrg reasonab steps for the prevenuon and detectlon of fraud at other Irregutaritles. Dlsclosure of Information to auditors Each ofthe person5 who are Trustees al thè timè when this Trustees. Report is approved has confimied that.. so far as that Tnjstee is aware. there 1$ no relevant audit Infom)atlon of whlch the charitys audltors are unawar8, and that TNstee has taken all the steps that ought to have been taken as a Trustee in order to be awarE of any relevant audlt Infomiatlon and to establish that the charitys 8uditors are eware of that information. Auditors The auditors, Hillier Hopkins LLP, have indicated their w4llingness lo continue in office. Th8 designated Trustee8 will propose a motion reappointirtg the auditors at a meeting of the Tnjstees. Approvad by ord6r of th8 membars of the board of Tnjstees and slgned on Ihelr behalf by. Steve Stokes Chair Date: KI IOI5 Page 10
THE JUBILEE HOUSE CARE TRUST LIMITED {A Company Llmlted by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE JUBILEE HOUSE CARE TRUST LIMITED Opinion We have audited the financial statements of Th8 Jubilee House Care Trust Limited (the 'charitable compan) for the year endad 31 March 2025 which comprise the Stal8ment of Financlal Activities, the Balan Sheet, the Statement of Cash Flows and the related notss. including a summary of signrficant accounting policie5. The financial reporting frarnework that has been applied in their preparation is appllcable law and United lQngdom Accounting Standards, induding Financial Reporting Standard 102 The Financial Reporting Standard applicable in th& UK and Republic of Ireland, (United Kingdom GenerdllyAccepted A¢countsng Practice). In our opinion the financial stalemenls: give a true and fair view of the state of the charitable companvs affairs a8 at 31 March 2025 and of Its incoming resources and appIltion of resources, including its income and expenditure for the year then ended., h£ve been properly prepared in accorden¢e vAth United Kingdom Generally Accepted Accounlkng Practice,. and have been prepared in acGordoncé with the requirwnents of th8 Companies A¢t 2006. Basls for oplnlon We LLbnducled our audit in acCortlan with International Standards on Auditing (UK) IISAS (UK)) and applicable law. Our responslbililles under those standards arg further described in the Auditors. responsibilities for the audtt of the financial statements seclion of our report. We are independent of the charitab12 company in aOrdanCe wlth the ethical requirements that are relavant to our audit of th8 financial statements in the Unitsd Kingdom, including Ihe Financial Reporting Council's Ethical Standard, and we have fvlfilled our other ethical responsibililies in accordance with Ih8se requirements. We bglieve that the audk evKlenGe we have obtained ' sufficient and appropriato to provide a basis for our opinion. Conclusions relatlng ¢0 going concem In auditing the financial statem&nts, we have conduded that.the Trustees, use of the going concern basis of accounting Hi the preparation of Ihg financial statements Is appropriate. Bas8d on Ihe work we have parfomied. we have rwt identified ary material nrtaintI8$ relating to events or conditions that, individually or collectivety, may cast significant doubl on the charitabl8 companys ability to conlinue as a going concern for a period of at least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trust8es with respect to going concem 8r& described in the relevant sections of this report. Page11
THE JUBILEE HOUSE CARE TRUST LIMrrED (A Company Llmltsd by Guarantsel INDEPENDEMT AUDITORS. REPORT TO THE MEMBERS OF THE JUBILEE HOUSE CARE TRUST LIMITED (CONTINUED) Other infomiation The other information comprises the information includèd in the Annu81 Report other than the financial statements and our Auditors, Report thereon. The Trustees ar8 responsibte for the other inforniation contsined within the Annual Report. Our opinion on the financial statements does not cover the other information and, gxcepl to the exlent otherwise explicitly ststed in our report, we do not express any fOll of assurance conclusion thereon. Our responsibility is to read the other infomialion and, in doing so, consider whether the other infomation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audr(, or othetwise appears to be materially misststed. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial slalements themselves. If, based on the work we have perfomied. we conclude Ihat Ihere Is a material misstatemenl of this other inf0mtIOn. we are required to report that fact. W8 have nothing lo report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our orAnM)n, based on the work undertakon In the course of the audlL the information gSven in the Trustee8' Report for the financ4al yaar for which the financial stst8m8nts are prepared ts consister)t with the financlal statements. the Trustees, Report has been prepared in accordan with applicable legal requirements. Matters on which we are required lo report by exception In the Ilght of our knowledge and understsnding of the charitable company and ils environment obtained in the course of the audit, we have nDt Identlfiéd material misstatements tn the Trustees, ReporL We have nothlng to report In respect of th8 folknwing matters in relation to which Companies Act 2006 r8quires U5 to report lo you if, in our opinion.. adequate accounting records have not been kept, or rebjms adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement wth the accounting records and r8MS. or certain disclosures of Trustees. remuneration specified by law are not made., or we have not received all the informalion ?nd explanations we require for our audit- or the Trustees were not entitled tr) prepare the financlal statements in accordance wlth th6 small companies regime and take advantage of the small companies, exemptlons in preparing the Truste8S' Report and frorrb the requirement to prepare a Strategic Report. Page 12
THE JUBILEE HOUSE CARE TRUST LIMrrED {A Company Limited by Guaranto•1 INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE JUBILEE HOUSE CARE TRUST UMITED (CONTINUED) Rgsponsibilitles of trustees As explained more fully in the Trustees, Reswnsibililies Statement, the Trusle8s (who are also the directors of the charllable company for the purposes of company law) are responsible for the preparation of the flnancial slalemenls and for being satisfied that they give a tnje and fair view, and for such inleinal control as the Tru51ees determine is necegsary to enable the preparation of financial statements Ihat are free from malenal misstatement. whether due to fraLEd or ernr. In preparing the finanual statements, the TNste8& are responsible for assessing the charitabl8 companls ability lo continue as a going conGem. disclosing, as applicable, matters related to goirkg concem and using the going concern basis of accounting unless the Trustees either intend to 'quIdate the charitable company or to cease operations, or hav8 no realistic alternative but to do so. AuditOT5' responsibiliti05 for the audlt of tha financial statfjments Our objeclNes are to obtain reasonable assurance about whether the financial statements as a lthote are frèe from material misstatement, whgth&r due to fraué or error, end tr) issue an Auditors. Report that includes our opinion. Reasonable assuranca is a high level of assurance. but is not a guarantee that an audit conducled in aourdance with ISAS (UK) will always detect a materi81 misstatement when il exists. Misstatements can arise from fraud or error and are consKlered material if, individually or in the aggregate, they could reasonably be expected to influence the economic dèclslons of users taken on tha basis of these financial statements. Irregularfties. Including fraud, are in8lanc8s of nonwcompliance with laws arKI regulations. We design proc*dur8s in line with our responsibiliknes. outlined above, to detect materi31 misstatements in respect of irregularitses, including tral. The extent to which our procedures are capable of detecting irregularities, including fraud is d8tailed below.. the nattjre of the industry and sector, ¢ontrol envlronment 8T buslness performance Includlng the remuneralton incentives and pressures of k8y management the primary responsibility for the prevention and detection of fraud rests with both those charged wt govemance of the entity and managemerrt. We consider the results of our enquiri8$ of management about Iheir own identification and assessmanl ol Ihe risks of irregularities- any matters we idenlified having oljtslned and reviewed the charitable CoMpanS documentation of their policies and procedu$ relab'ng lo.. idenltfying. evaluating and complying with laws and regulations and %thether they w8r8 aware of any inslances of non-compliance- d8lecting and responding to the rtsks of fra# and wh6ther they hove knowled9e of any actual, suspected or alleged fraud., the internal GOT)tr01s established to mitigate rfsks of fraud or non4ompliance with laws and regulattons., the matters discussed among the audit engagement t&qm. gardIng how and where fraud might occur in the fin8nryal statement5 arKI any potential indic8trKs of fraud. As a result of these procedures, we considered the opwjrtunities and Incentives that may exist within the organisation for fraud and idenlthed the greatest potential for fraud. In common with all audits under ISAS IUK}, we are also required to perfom) specific procedures to respond to the risk of management override. induding testing joumals and evaluating whether there was evidence of bias by the directo that reprasented a risk of material mis5talemènl du8 to fraud. Page 13
THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Llmltgd by Guarantéè) INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF THE JUBILEE HOUSE CARE TRUST LIMITED (CONTINUED) We also obtained an understandlng of the legal and regulatory frameworks that the charitable company operates in, focusing on pvISIonS of thosg laws and regulatM)ns that had a direct effect (In the d8lemiination of material amounts and disclosur8s in the financial ststements. We focused on laws and regulations that could glve rfse to a material misslalement in the finanrAal statements, InclLMling. but not limited to, tha Companles Act 2006 and relevant tax legislation. Because of the inherent limltations of an audit. there is a tisk that we WNI not (Jetect all irregularities, Indudlng those leading lo a vnaterial misstatement in the financtal statements or non-compliance with regulation. This risk Increases the more that compliancè with a law or regulation Is removed from the events and transactions reflected in the finandal ststements, as we will be less likely to become aware of instances of non<omplian¢e. The risk is also greater regardlng irregularities occurring du8 to fraud rather than error. as traud involves intentional concealment, forgery, rAIusion, omission or misrepre8entatson. A further description of our responsibilities for the audtt of the financial statsmenls is located on the Financial Reportlng Council's website at.. www frc ukjauditorsres onsibilities. This descrlptlon foms part of our Auditors, Report. ilse of our report This r8POrt is made 501ety to the charitable companvs members, as a body, in accordance with Chaptor 3 of Part 16 of the Companies Act 2006. Our audtt work has been undertaken so that we might slate to the charitable cornpanls members those matters we are required to stsle to them in an Auditr)rs' ReF)Qrt and for no other purpose. To the fullest exlenl pemiitted by law. we do not accept or assume responsibility to anyon@ other than the chadtabEe company and its members. as a trdy. for our audtt work. for this report. or for the opinn5 we have formed. Gary Wong BFP FCA Isenlor Statutory Audltor) for and on behalt of Hlllier Hopklns LLP Chartered Accountants ststutory Auditor Radius House 51 Clarendon Road Watford HBrtrordshire WD17 1HP Date.. 28 November 2025 Page 14
THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Llmit8d by Guaranleel STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDfTURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlcted funds 2025 Restrfctod funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacie8 Charitable activities Investrnents 21.626 21,626 3,760,487 37,326 22. 143 3,800,648 16,200 3,760,487 37.326 Totsl Income 3,797,813 21.626 3,819,439 3.838,991 Expondlture on: Raising fund5 Charitable actiMti83 16,242 3,778289 16.242 3,785,201 19,968 3,959,082 6,912 Total expenditur8 3,794,531 6,912 3,801,443 3,979,050 Net in¢omo1(oxponditurn) b•foro net (lossesygalns on Investments Net {lossesllgains on inveslments 3,282 {13481 14.714 17,996 {1246) (140.059) 8,595 Net movement In funds 2,036 14.714 16,750 (131,464) Recon¢lllatlon ot funds: Total fvnds brDught forward Not movement in funds 1.922,290 2.036 14.808 14,714 1,937,098 16.750 2,068,562 (131,464) Total funds carrfed forward 1,924326 29,522 1.953.848 t.937.098 The Statement of Flnanclal Activit$ indudes all gains and1055es recognised in the year. The notes on pages 19 to 34 fomi part of these firkancial stalements. Page 15
THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Limited by Guarantee} REGISTERED NUMBER." 02161953 BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Fixod assets Tangible assets Investment property 11 12 1.711.509 479,000 1.780.475 479,000 2,190,509 2,259,475 Currnnt ass8ts Debtors 13 14 107.400 54,027 734.735 94,045 555.273 440,575 Investments Cash at bank and in hand 896.162 1,089,893 Current liabilities Creditors= amounts f811ing due within one year 15 (686.896) (882,421) Net current assets 209.266 207,472 Tolal assets t•s• curront IlabllitSes 2.399.775 2,466,947 Creditors.. amounts falling due after mor8 than one year 16 (445,927) (529.849) Total net assots 1,953,848 1.937,098 Charlty funds Restricted fvjnds Vnrestrlcted fijnds 17 17 14.808 1,922,290 1,924.326 Total funds 1.953.848 1,937,098 Page 16
THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Limlted by Guarant80 REGISTERED NUMBER.. 02161953 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 The Trustees acknowledge their responsibilities for complwng with the requirements of the Aot with respect to a¢countlng records and preparaon of flnancaol ststements. The financ#81 statements have been prepared in attordance wlth the provaslons appllcable lo entities Subject to the small companies regime. The financial statements were approved and aUtIrised for Issue by the Trustees and siglled on their behalf by.. ste Chair tokos Date.. 21 go7r The notes on pages 19 to 34 fomi part of thèse financial statements. Page 17
THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Limit•d by Guarante8) STATEMENT OF CASH FLOWS FOR THE YEPR ENDED 31 MARCH 2025 2025 2024 Note Cash flows from operaung a¢tivities Net G88h used in opar8ting activitses 19 (153,602) 537,350 Cash flows from Investlng actlvllles Purchase of tangible fixed assets {21,550) (121,572) N•1 cash usod in Invastlng actlvlllèy {21.550) 1121,572) Cash flows fn)m financlng actlvltles Repayments of borrowing {31,934) (31,358) Not cash usad in financlng actlvltlè$ {31.934) (31,358) Change in cash and cash oqulvalonts in thg yoar Cash and eash equivalents at the bgginnin9 of the year (207,086) 995.848 384.420 611,428 Cash and Gash oqulvalonts at thè end of the year 20 788.762 995,848 Tha notes on pag68 19 to 34 fomi part of th&se financial statements Page 18
THE JUBILEE HOUSE CARE TRUST LIMrrED {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 G&neral infc#matlon The Jubilge House Core Trust Is a charitable company limited by guarantee and Incorporated in England and Wales. Its registered Offi k% Suite 2. 6 Silvar Court. Walchmeal, Wewn Garden Clty, United Ingdom, AL7 1LT. countlng pollcles 2.1 Basis of prwralion of nnartial statements The finandal statements havè been prepared in accordance wth the Charities SORP IFRS 1021- Accounting and Reporting by Charities.. Slalament of Recommended Practic6 applicable lo charilies preparing their accounts in accordan with the Financial Roporttng Slandaid appli¢able in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019). the Financial Reportiw Standard applicable in Ihe UK and Republic of Ireland IFRS 102} and th8 Companies Act 2006. The Jubilee House Care Tnjst knmmed meets the definition of a public benefit entity under FRS 102. Assèts and liabilities are inilially recogni5ed at historical cost or transaction value unles5 othemse stated in the relevant accounting policy. 2.2 Going concom The Trustees have assessed whether the use of the going concem basis is appropTtale and have considered possible events or conditions that might cast SIgncan1 doubt on the ability of the charitsble company to continu8 as a going conGem. The Trustees have made this assessment for period of at least one year from the dale of approval of the financial stalemenls. In particutar, the Trustees have considered the charitable CoMpanS forecasts arKI projections and have taken account of pressures on income. Based on Ihis and the strong cash and reserves positlon at Ihe time of approval of these financial statements. the Truste&s have concluded that there is a reasonable exp8Ctation th81 the charitsble cornpany has adequate resources lo contlnue in operational existence for at18ast 12 months from the date of the audit report of these ffnancial slalements. The charftable company therefore continuès to adopt the going concem basls in prepaTing rts financial statemenl 2.3 Income All Income is reGognised once thg Charitable Company has entitbment to the income, it is probable that the in¢ome will be rgcelved and the amount of income receNable can be measured rellabty. Donations and grants are Inded In the Statemer)t of Financial Activities on a r1Vable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevanl funds on the Balance Sheet. Where income is ceiVed in advance of enti118rnenl of receipt, its recognitton is deferred and clUdEd in creditors as deferred inenme. Where entlllement occurs b8fore income is received, the income is accrued. Income tsx recoverablg in relation to inveslment Income is recognised at the lime the investment inc4)me is receNable. Page 19
THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Ac¢ountlng pollcles (contlnued) 2.4 Expondlttsro Expendllure 1$ recognl$ed once there Is a legal or constructive obligation to transfer economic b8nefil to a third paty, it is probable that a trdnsfer of economic benefits wll be required in settlement and the amount of lJ)e obligation can be measured Trliably. Expenditure is classified by aGlivity. The cos15 01 each activity are made up of the totsl of dlrect costs and shared Sts. Including SUPFQrt costs Invc4ved In undertaking each activity. Direct Costs attributable to a single activtty are allocated diredy to that aciivity. Shar8d costs which contribute to more than one actIty and support costs which are not attributable to a single activity are apportioned belween those activities on a basi5 conslslent with the use of reSoUrs. Central staff costs are allocated on the basis of time spent. and depredation charges allocated on the portlon of the asset's US8. Expenditure on raising funds in¢deS all expendllur8 incurred by the Charitable Company lo raise nds for its charitable ptJrposo5 and inGludg5 sts of all fundraising activities events and non- charitable trading. Expenditure on charitable activities is incurred on directty undertaking the actsvities which further the Charitable Company8 oblectivgs. 88 W811 as any asswaled support costs. 2.5 Interest recelvable Interest on fvn(Is hekl on (Jgposlt is Indudad wh8n recelvab18 and the amount can be measured reliably by the Charitable Company, this is nomially Up notification of the interest paid or payable by the institution with whom the fund$ are dèposited. 2.6 Taxatlon The Charitable Company is exempl from corporation tax on its charflablo activities. Its income Is also exempt from value added tsx. Expenditure disc105ed in the account5 induded value added tax where applicable. 17 Tanglblg flxgd assgts and doprgciation Tangible fixed assets are inilially recognised al cost. Aftar recognition, under the cost model. tangible fixed assets are measured 8t cost less acovmulated depreciation and any accumulated impaimient losses. Al cL)sts incurred to bring a tangibl8 fixed asset Into Its intended working condition should bg included in the m¢a¥urompnt of St. Deprgciation is charged so as lo allocate the cost of tangible fixed 88sels le58 their residual value over their estimaled useful lives using the straighl-line method. Depreciation is provided on the foll¢)wing bases.. Freehold propety Motor vehicles Fumliure & 8qLslpment - 50 years - 3 years - 44 years The assets, residual valu8s, useful lives and depreciation methods are reviewed. and adjusted prospectivety if appropriate, or if there FS an irKlic8tion of a signifficant chang8 since the last repOrt)g dale. Page 20
THE JUBILEE HOUSE CARE TRUST LIMrrED {A Company Limitgd by Guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountifig pollcle$ (continued) 2.8 Investrnents Flxed asset Investments are a fom of financial Instrument and are inmally recognised 8t their transaction cost and subsequently measured al fair value at the Balance Sheet date. unless the value cannot be measured reliab in which case it is measured at eost le9s impairment. Investment gains and 105ses, whether realised or unrealised. are combined and presented as 'Gainsl(Losses) on investments. in the Statement of Finaneial Aclivlties. Investment propety is carrfe(l at fair value delemiined annually by extemal valuers and deriveé from the current market rents and invéstment property yields for comparable real estate, adjusted rf necessary for any differoncEs in the nature. location or condition of the specific 8886t. 19 Dobtors Trade and other debtors are recognisgd at the settlem8nt amount after any trade discourtt offered. Prepaents are valued at the amount prepaid net of any trade discounts due. 2.10 Cash at bank and In hand Cosh at bank and In hand includes cash and short-terni highly liquld Investments wth a short maturity of three months or less from the date of acqui8ition or opening of the d8POSIt or Similar aGcount. 2.11 Liabilltles and provlsion8 Liabili11os are recognised ern there Ss an obligation at the Balance Sheet dale as 8 result of a past event. il is probable that a transfer of economic benefft will b8 requiied in settlement, and the amount of the settlement can be estimated reliabty. Llabililies are recognisod at the amount that Ihe charitab Cixnpany anticipates it wdl pay to gettle Ihe debt or the amount it has received as advanced payments for the goods or serviGes rf( must provide. Provisions are measured at the best estimate of the amounts requlred lo settle the obligation. Where the effect of the time value of money is material. thè provision is based on the present valu& of those amounts, discountsd at the P-taX discount rate that reflects the risks specific to the liabilty. The unwinding of Ihe dI(JnI 18 recognis8d in the Statemerst of Financial Activitlas as a finance cost. 2.12 Flnanclal Instruments The Charitable Company only has flnancial assets and financial liabilities of a kÉnd thal qualTty 8S baglc financial instruments. Basic financial instruments are initialty recognised at transaction value and subsequently measured at thelr settlement value with the exception of bank loans whlch are Subsequent measured at amortised cost using th& effective interest method. 2.13 Penslons The Charilabl6 Company operates a defined contriblrtion pension scherne and the pensiork charge represents the amounts payable by the Charitable Compary to the fund in respect of ihe year. Page 21
THE JUBILEE HOUSE CARE TRUST LIMrrED (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting polici•s (continu•d) 2.14 Fund accountlng General ftjnds aro unrestricted funds which are available for use at the dlscretion of the Trustees In furtheran of the generdl objectives of the Charitable Company and which hav8 not been designated for other purposes. Designated funds comprise unrestficted funds Ihat have been Set asido by the Trust8&s for particular purposes. The aim 8nd use of each designated fund is set out in th& notes to the financial statements. Restricted funds ale fund8 which are lo be used in accordance wllh specific reslrlctions imposed by donors or which hove been raised by the Charitable Company for partiGular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each ra81ricted fund is $8t out in the not8S to th8 financial stalgments. Investment income. gains and losses are altocated lo the appropriats fund. Income from donatlons and legacl86 Unr¢strlctsd Reslrfcted funds funds 2025 2025 Total funds 2025 Donatlons 2.926 18.700 2,926 18,700 Grants 21,626 21.626 Unrestiicted funds 2024 R8sfrict8d fvnds 2024 Total nds 2024 Donations Grants 929 2,118 19,096 3,047 19,096 929 21,214 22,143 Page 22
THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Limltsd by Guarant•e} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 In¢oma from charftablg actrvities Unrostrfcted funds 2025 Tolal funds 2025 Residential services Supported living Short break ServIS Other 1.308.320 364,201 2,050,700 37,266 1.308,320 364,201 2.050,700 37.266 3,760,487 3.760,487 Unrestricted fvnds 2024 Tolal funds 2024 Residenti81 services 1, 197,009 451,055 2,107,010 45.514 1,197,009 451,055 Z107,010 45,5T4 Supported living Short break services other 3,800.648 3.800,648 Invgstmènt Income Unrgstricted fund$ 2025 Tolal funds 2025 Bank interest 37.326 37.326 Page 23
THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Llmltad by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Investment income (continued) Unrestricted funds 2024 Total fvnds 2024 Bank interest 16,200 16,200 ExPendIre on ralslng funds CoBts of ralsing voluntary Income Unreslrlcted funds 2025 Tolal funds 2025 Fundraising other costs Fundraising w8g8s and salaries 15.881 15,881 16.242 16242 Page 24
THE JUBILEE HOUSE CARE TRUST LIMITED {A Company Limltsd by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Expendlture on raising funds Icontlnuedl Costs of ralslng voluntsry inmmè (continued) Unrests7Ct8d funds 2024 Total funds 2024 Costs of raising voluntary income- wageg and salaries 19,968 19,968 Anatysls of expBndlture on charttable activltles Summary by fund typo Unr•strlcted Rgslrfd•d funds funds 2025 2025 Total 2025 Charitable activitses 3.778,289 6,912 3,785201 Unrestricted funds 2024 Restricted funds 2024 rotal 2024 Charltable activities 3,940.369 18,713 3.959.082 Page 25
THE JUBILEE HOUSE CARE TRUST LIMrrED IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure by aclivStlo8 A¢tlvities ndertaken directly 2025 Support costs Total funds 2025 2025 Chadtsble acUv5tles 3,050,173 735.028 3,785.201 Actiwties undert8ken directly 2024 Support costs 2024 Total funds 2024 Charllable activities 3,265,894 693,188 3,959,082 Anatysls of support costs Total funds 2025 Total funds 2024 Stsff ¢o$ts R8nt Mortgage Interest 434,105 30.920 39,556 28.425 50.448 33.608 1,953 11,800 7.800 37,921 58.492 426, 798 . 19,500 41,582 37,606 41.469 25,955 968 11,250 10,458 36,761 40.841 Office infra8tructure, equlpment & consumables Insurance & utilities Tr8nsport Audit fees Professional fees Depreciation Olher 735.028 693,188 Page 26
THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Limitsd by Guarantsg NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 staff costs 2025 2024 Wages and salaries Social securty costs Contribution to defin1 contribution pe1151on schemes Agency costs 2,445,869 218.848 73,484 268.800 2,547,256 224,040 75.379 368, 172 3,007.001 3,214,847 The average number of persons employed by thé Charitable Company during the year w8s as follws.. 2025 No. 2024 No. Avg staff no. 122 125 Thg numbw of employees whose employee b9fftS {Bxduding 8mploy8r pension c05ts> eXaed £60.000 was.. 2025 No. 2024 No. In the band £70.001- £80,000 In the band £90.001- £100.000 Key m8nagem8nt personnel cornprised of the Chlef Executfve, Head of Finance, Heaé of HR, Head of Children Services and three (2024.. three) Registered Managers. Totsl employee benefits of Ihe Charitys key management rsonnel wer8 £435.902 {2024: £418,360) 10. Trusts8s' ramuneraOn and oxpon$gS During the year. Trustses received any remuneration or other bendhs (2024- £NILJ. During the year ended 31 March 2025, no Trustee expenses have been incurred (2024- £NILJ. Page 27
THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Limitod by Guarant•• OTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Tangtblg fixgd assets Freehold prortY Motor Fumlture & v•hicle$ oquipment Total Cost or valuatlon At 1 April 2024 Addibons 2,000.911 140.886 602,261 21,550 2.744.058 21,$50 At 31 March 2025 2.000,911 140.886 623,811 2.765.608 DgweGlatlon At 1 April 2024 Charge for trfe year 431.650 31.351 121704 15.777 409.229 43.388 963,583 90.516 At 31 March 2025 463.001 138.481 452.617 1.054.099 Ntrt book value At 31 March 2025 1,537,910 2,405 171,194 1,711,509 At 31 Mérch 2Q24 1,569,261 18, 182 193,032 1,780,475 12. Investrnent property F1Id Investment property Valuatlon At 1 April 2024 479,000 At 31 March 2025 479.000 The most recent professional market valuallon of £425,000 was provided by Cassidy & Tate, Sl Albans in March 2022. The Trustses believad the valuatTron as at 31 March 2022 had increased to £479,000 b8sed on an open market value for existing use basis. The Trustees believe this valuation continues to be appropriate based on lh6 market conditions that existed as at 31 March 2025. This valuation does nol represent a RICS valuation. The historic cost of the Investment property is £51.709. Page 28
THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Llmited by Guavanteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Debtors 2025 2024 r0 wlthln one year Trade debtors other debtors Prepayments and accrued income 50,9S3 1.179 55.268 41,911 19 52,115 107,400 94,045 1& Current asset investments 2025 2024 Investments 54.027 555,273 15. Creditor5: Amounts falling due within one ygar 2025 2024 Mortgage loan Trade creditors Other taxation and social securiiy other Greditors Accruals and defrtred income 48,808 69.476 48,785 22.169 497,658 287,335 121,510 47.420 I,S94 424,462 686,896 882,421 2025 2024 Deferred incofne at 1 April 2024 Resources deferred during the year Amounts released from prevvjus periods 589.917 29.522 (228,15S) 50.824 589,917 (50,824) 391,284 589,917 Page 29
THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Limited by Guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 16. Creditors: Amounts falling due after more Ihan one yèar 2025 2024 Mortgage loan als and deferr8d income 445,927 239,334 290.575 445.927 529,849 The aggr8gat8 amount of Ilabilitses payable w rep8yat4e wholly or in part more than five years after the reporting date is.. 2025 2024 Pardble or repayable by instalments 322,607 116,668 At the year end, the charitable company had the folowing secured debts: The loan from Wetyi Hatfield Council totalling £47,387, secured against the freehold property, th8 Peartree Short Breaks Centr8. The loan from the Charity bank totalllng £192.W6, se¢ured against the freehokf propety. the Meadows Short Breaks Centre. The loan from Charity Bank lolalling £254,442, Becured against the freehold property at 12 Hazlemere Road. The ban agreement includes a negative pledge. Page 30
THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Llmitad by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17. Statement of fvnds Statsment of fvnds - Gurrnnt yoar Balance at 31 March 2025 Balancg at 1 Aprll 2024 Transrg inlout GaSnsl (Loe$> Incomo Exponditura Unre$trlcted funds D084gnated funds Busin8SS contingency Propety re8eTve 350.000 350,000 1.521.592 211,214 583 137,6151 1.522.175 173,599 Fixed a88ets 2,082.806 137.0321 2.045.774 Gonoral funds General funds {160,516) 3,797,813 (3,794531 37,032 (1.2461 1121.448) Total Unrestrfct¥d funds 1.922.290 3,797,813 (3.794,531 (1.2461 1.924.326 Restrlctod funds Jubi18a House- gen8ral 22143 LinIll - general Jonquil general Meadows- general Hazelmere - general Pines- gener81 Peartree- general 2.231 3.947 6.178 (800 5.815 10.551 (815 15.551 3,3WI (3,362 2,600 (1.935} 6.628 6.628 500 500 Page 31
THE JUBILEE HOUSE CARE TRUST LIMITED (A Company Llmlted by Guarantse> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MRCH 2025 17. Statement of funds (contlnuod) Statement of 18 . Gurrent year {Gontinu¢d) Balance at 31 Mareh 2025 Balance at 1 April 2024 Transfers Inlout Gainsl (Losses) Incom• ExndItUTe 14,808 21,626 16,912 Total of funds 1.937.098 3.819,439 13.801,443 (1.2461 1.953.848 Designalod funds: Busingss contingency Propety reserve Designated for retention in respect of an unexpected emergency. Represents freshokl land & bulldlngs and Investment prorty {nel of outstanding mortgages). Represents fixed assets used In buslness {exclucllng land & bulldlngs). Flxed assels Restricted ftjnds.. Jubilee House- general Restricted for use al Jubilee House. 22143 Lincoln - general Restricted ft)r use at 21122 and 43 Lineoln. Jonquil- general Restri¢t8d frir use al Jonquil Adults, residential. Meadows- general Restricted for use at Meadows Short Breaks Centre. Hazelmere- general Restricted for use at Hazelmere. Pines - general Restricted for use al Pines P8artra8 - ganaral Restricted for use a Peartree Page 32
THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Limited by Guarant9•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PAARCH 2025 18. Analysis of net assèts betwoon funds Analysis of nèt assets between funds . current year Unrestrtctsd Restrictsd funds funds 2025 2025 Total funds 2025 Tangible fixed assets Investment property Current assets Creditors due withln one year Creditors due in more than one year 1,711,509 479,000 866,640 1686.896} 1445,927} 1.711,509 479,000 896,162 (686.896) (445,927) 29,522 Total 1,924,326 29,522 1.953.848 19. ReGonclllallon of net mov•ment In lunds to not cash flow from operntlng actlvltles 2025 2024 Nel incomelexFendiÉure for the year las per Slatemènl of Flnandal Activities) 16,750 (131,464) Adlustments for: Depreciation charges Decreasel{increasel in debtors Inerease/ldecreasel In credttors 90,516 (13,355) (247,513) 85,297 9,017 574,500 Net $h provided bylluBed In) operating actlvllles (153,602) 537,350 Analysts of cash and cash equlvalents 2025 2024 Cash in hand Charities investment fund n4,73S 54,027 440,575 555,273 Totsl cash and c#8h equlvalents 788,762 995.848 Page 33
THE JUBILEE HOUSE CARE TRUST LIMrrED (A Company Limit•d by Guarant8•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PIARCH 2025 21. Analysls of changes In net dgbt Al 1 Aprll 2024 Cash flows At 31 March 2025 Cash at bank and in hand Debt due wthin 1 year Debt due after 1 year Liquit1 investments 440.575 294,160 1287.335> 238.527 1239,334} 1206,593) 555,273 {5D1.246) n4,735 148.8083 (445,92n 54.027 Operatlng lease commltmonts At 31 March 2025 the Charitable Company had commitments to make fLrture minimum lease payThenls under nonvcancellable operating leases as follows.. 2025 2024 Not later than 1 year Later than 1 year and not lat8r than 5 years 1.944 1.440 2,880 3.888 4,320 Rolatad party transactlonB At the balance sheet date, The Jubilee House Prop&rty Services Limited, a Gompany in whiGh 2 Trustees hold Directorships owed the charitable ¢ompany an amount of £4.836 {2024 £Nil}. During the year. the charitable company m8de purchases of £10.776 (2024: £24,983) with Corsolv Limilod, 8 company controlled by the charitable companys CEO. 2 Controlling party There is no controlling w ultymate controlling paty. Page 34