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 ￿na￿lJI 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 D￿mber 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 Mar￿98r 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 LIM￿ED {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 Cha￿table 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 ap￿￿1¢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 rela￿On 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 th￿rfaMil￿. 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 dlsab11i￿6S r8n9lng from resldentlal carg and supported living to short breaks and outreach $8rvic8s. In everything thal we do we aim to denionstrate our key valLtes". a cultura thal is open and honest" a supportive and cadng envlronment for both IndlvSduals and staff,. and an expectatlon of contEnual improvement. Rosldential Sorvices Wg have on9 residential servi￿s. Jonquil Close, which provides support lo six adults who Ilv8 with Jubi188 House on a permanent basis. This r8sidential servic0 caters for differing levels of need. which frequenlty invofve physical. as well as leaming disabilities. They are supported to acce88 the community in a group or individual basis. Individuals are supported and encouraged to maximisè their full potential in all aspects of their dally INing. Supportod Llvlng For the majority of the year, we operated a small. supported living scheme in Slevenage for a young adult. This closed at the start of 2025 after funding ft)r the service made it financially unviable. We are now In the process of repurposing thls servlce, wlth reglstralbn wlth Ofsted progressing. Short Broaks Servicos The three original short break ￿ntre$ 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 In￿me 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 h￿h. Volunteers This financtal year the volunteers helped with fundraising, PR, supportlng people and carryEng out prolects to improve our seryice p￿￿OnS. 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 va￿e 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, Inc1￿11￿g 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 activit￿s. 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 prodU￿d 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 b￿n 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 R￿entIon 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 e￿ndItUr￿. 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 Con￿rn 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 $8wngs plan to be ftjlly delivered. The charity has go￿ cash and reserves position at the time of approval of these financial ststemerrt5. Havlng made an assgssmerrt. the trusteps have concluded that there is a ￿asonable expectation thal the charity has adequate resources to continue in operational oxistence for al least 12 months from the date of the audit report of these financial statements. The charity therefo￿ continues to aéopt the going concem basis in preparlng its finan¢lal statements. Page 7 THE JUBILEE HOUSE CARE TRUST LIMrrED (A Company Llmltod by Guaranteè) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 StruGturo. governance and management . Constltutlon The Ju￿le8 House Care Trust Limited registered as 8 charstable company limited by guarantee aNI was sel up by a Mernorandum and Artides of Associalion. It is registered as a charity wth the Charity Commlssion. The￿ are currently 37 members of the Company, an increase from 31 In the previous year. b. Methods of appolntment or electlon of Trustees We source new trustees through personal recommendation, advertising or by a targeted approach. Al new trustees undergo personal effectiveness interviews as part of the recruitment process in line our SBfeguarding policy ar￿ must be doared by the Dats Barring Service, and we follow the Charity Commission's guldeEines on recruitment at each Annual Ggnèral Meding. one third of 8oard members retlre by rolatlon, with the option to stand for re-election. c. Pollcles adopted for thg induction and tralnlng of Trust0è5 New trustees undergo an induction process which Includes vlslls to all se￿(*S and Introductions to key staff.. they are also mentored by an existing Board member. They receive a Trustee Handbook outlining the spedfic responsibilities and expeolations of both them and the Company. Ongoing training is off8red to 811 trustees and they are 8ncournged to regularfy visit Jubilee House serv￿e8 and to participate in Jubi18e House ev8nts. d. Organl$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 su*ommittee is chaired by a Trustee and also has senior management representation. Since March 2020 the Board has changed to virtual Mee￿ng8. 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 t￿Y 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 CoTr￿rn, 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)mp￿henSIve 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 regula￿On8. 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 ern￿oYer 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 appIl￿tion 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 a￿OrdanCe 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 ￿n￿rtaintI8$ 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 fO￿ll 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 inf0m￿tIOn. 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 r8￿MS. 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 CoMpan￿S 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 p￿vISIonS 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 eX￿a￿ed £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' ramunera￿On and oxpon$gS During the year. Trustses received any remuneration or other bendhs (2024- £NILJ. During the year ended 31 March 2025, no Trustee expenses have been incurred (2024- £NILJ. Page 27 THE JUBILEE HOUSE CARE TRUST LIMITED IA Company Limitod by Guarant•• OTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Tangtblg fixgd assets Freehold pro￿rtY Motor Fumlture & v•hicle$ 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 F￿1￿Id 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 r￿0 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 Trans￿rg inlout GaSnsl (Lo￿e$> 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 Lin￿Ill - 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 M*RCH 2025 17. Statement of funds (contlnuod) Statement of ￿1￿8 . Gurrent year {Gontinu¢d) Balance at 31 Mareh 2025 Balance at 1 April 2024 Transfers Inlout Gainsl (Losses) Incom• Ex￿ndItUTe 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 pror*ty {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