Reglstered number: Q2209114
Charity number: 298603
FREEWAYS
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
ishop Fleming

FREEWAYS
IA COMPANY LIMITED BY GUARANTEEI
CONTENTS
Page
Reference and Administrative Details ol the Company. Its Trusteos and Advisers
Trust•e6' Report
Independent Audttors. Report on the Financlal Statements
9-12
Consolidated Statamgnt of Flnanclal Actlvltlos
13
Consolidated Balan¢a Sheet
14-15
Company Balancé Shget
16-17
Consolldated Statement of Cash Flows
Notes to the Financlal Statements
19-34

FREEWAYS
IA COMPANY LIMITED B Y GUARANTEE)
REFERENCE AND ADMINISTRATIVE DEfAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2023
Trustees
M S 8amett
C C Britton
C A Browne lappointed 22 March 20231
A M Healon
F S Morton
D Y Pincott
B E Sawyer
Company reglst•red
number
02209114
Charity registered
number
298603
R•glstered offlce
Le￿h Court Day Centre
Pill Road
Abbots Leigh
Bristol
BS8 3RA
Company Sgcrgtary
Rachel Burkinshaw
Chlef executive offlcer
Claire Hayward
Independent audltor8
Bishop Fleming LLP
Chartered Accounlanls
10 Temple Back
Bristol
BS1 6FL
Banker8
Barclays Bank plc
86 Queens Road
Clifton
Bristol
BS8 1RB
National Westrninstsr Bank plc
13 High Street
Westbury-on-Trym
Bristol
8S9 3BF
Sollcltors
Burges Salmon LLP
One Glass Wharf
Bristol
BS2 OZX
Page 1

FREEWAYS
IA COMPANY LIMITED BY GUARANTEE)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their annual report together with the audited financial ststements of the Company for the
year 1 April 2022 10 31 March 2023. The Annual Report serves the purposes of both a Trustees, report and a
directors. report under company law. The Trustees confirm that the Annual Report and financial statements of
the charitable company comply with the current slalulory requirements, the requirements of the eharilable
company's governing document and the provisions of the Statement of Recommended Pra¢ts"ce ISORPI
applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland {FRS1021 leffeclive 1 January 20191.
sin￿ the group and the Company qualify as small under sedion 383 of the Companies Act 2006, the Group
Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and
DirecloTS' Report) Regulations 2013 has been omilled.
Objectives and activities
The objects ol the charity, set out in the Memorandum ol Association, can be SL*mmarised as..
To support adults with a learning disability for the public benefft.
Freeways undertakes this by supporting indwiduals in residential homes, in supported living services, day
services, the community and In the hydrotherapy pool. The following paragraphs outline the activities and
achievements that deliver those objects.
The Freeways. Vision Ststemenl Is "A Provider of Choice" this is the defining statement which oullines.rts intent,
and ils Mission Slalemenl, "Quality, Wellbeing and Evolution., indicates the methodology by which il chooses to
conduct 11s business.
Underpinning these ststements are six or9anisational values..
Putting People First
Having Great Stsff
Being Active in the Community
Planning for the future
Making Every Penny Count
Ensuring Effective Governance and Compliance
A¢hlevementB and performance
W8llboing
In the 58St year we have seen the need for wellbeing inilialives continue lo be paramount. Although we have had
fewer Incidents of Covid-19, there have still been a couple of outbreaks across the charlty.
All were happy when the regulations in regards lo the wearing of PPE were reduced as this had been difficult for
both the staff and the people we support.
Due lo the staffing crisis that impacted all social care organisations including Freeways, it was noted that many
employees were working hard lo cover shifts and ensure the quality of care remained al a high standard. In
response to this and the increased cost of living, the Trustees agreed to ensure the frontline workers were
remunerated well for the work they undertook and offered iwo pay awards in the year. Al frontline workers are
now paid above the real living wage for the UK with a starting rale of al least £11 per hour for an inexperienced
and untiained support worker.
Vvellbeing is far greater though than a financial reward and to this end Freeways have completed a Wellbeing
strategy which is part of a suite of People Strategies but also includes the wellbeing of the people we supporL
Page 2

FREEWAYS
IA COMPANY LIM￿ED 8Y GUARANTEE)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2023
The key aim$ of the strategy are..
The people we support and stsff are glven the infomiation lo make the best decisions for their heaf(h and
wellbeing
This looks lo empower staff and the people we support lo make the best decisions for them al the time
they need to make the decision.
Difference is ￿letsra1ed
Showing the people we support and staff that all are wekome and entitled lo the sam8 rights as everyone
else. This aligns lo our Equality, Diversity and Indusion Strategy.
Build Resilience
To support people lo be able lo deal with the issues that a fulfilling life brings and ensure the nurturing
environment ftir individual$ to learn from their experiences.
New Technology is embraced lo enhance health and wellbeing
As we implement a new digital system we look to ￿lebrate how the digital age has enhan￿d the health
and wellbeing of the people we support and staff.
Staff are trained to monitor and support the health and wgllbeing of the people we support and their w-
workers
The organisation, along with the Wellbeing group. have continued with a number of wellbeing actions and
worked hard lo communicate these with stsff. These include".
Information leaflets at key dates in the year
Employee Assistsnce Programme IEAPI., 24 hour confidential helpline (including access lo counselling,
finanaal and legal advice) and online health portal.
Health Assured IEAPI Newsletters shared with services
Mental Health resources (available on management infomialionl
Wellbeing Group (with a member in each servi￿)
Staff Representative Group
Occupational Health
Able Fuluies
Access to Wo
Mental Health Awareness Training for all stsff
Manual Handling training
First Aid Training
Access to the Hydrotherapy Pool al designated times
Supervisions
Team Meetings
Organisalional Sick Pay
Employers Ne￿ork for Equality & Indusion
Disability Confident Employer
Financial Support Organisalions l.e. Mind
The Equality, Diversity and Inclusion Strategy has also been introduced as another of the suite of People
Strategies. Freeways works with ENEI to measure our achievements in this area. The charity refX)gnises il has a
long way to go bul is pleased to report the progress achieved in just one year.
Page 3

FREEWAYS
IA COMPANY LIMITED BY GUARANTEEI
TRUSTEES. REPORT ICOIfflNUEDI
FOR THE YEAR ENDED 31 MARCH 2023
The diagram below shows where we were at the beginning of the year..
A••lh•
si¢•t•fft & pl•n
L••d•v•hlp & •ca¥uni•blKYv
A•¢iullrn•nt &
Tr•lnkne & dw•lopm•nt
Oth•t •mplgvrn￿I Pi•¢lk•¥
Procur•m•nl
Compared to the end of the finanaal year.
Quallty
Freeways continues lo provide oulslanding outcomes for the people we support in many of our services.
The organisation has invested sunificanlly in a new digital care records system via Access and the charity is in
the process of creating a besFX)ke system to enable staff lo clock in and out of shifts, report on activities
undertaken in temis of direct support and home management.
Due to the breadth of services offered, a number of different pathways have been created lo ensure a person-
cenlred surte of processes are in pla￿ according to need.
The system will ensure that both the client journey from appli¢alion to leaver and that of new staff recruits are
managed to a high standard.
P89e 4

FREEWAYS
IA COMPANY LIMITED B Y GUARANTEE
TRUSTEES, REPORT ICONllNUED)
FOR THE YEAR ENDED 31 MARCH 2023
The charity started Irialling the system in 2022 with the implementation phase due to be completed by the end of
August 2023 with the embedding phase continuing from there.
The reports from the system will give individuals and groups access lo real lime infomiation allowng for a much
improved decision-making process.
One of our ngwesl types of sarvices, specialist Positive Behaviour Support IP8SI Servi￿$ which support
individuals at risk of needing a hospital pla￿ment due to the frequency, intensty and longevity of their
behaviours which can challenge others, has continued to be a real SUC￿$$ this year.
The review completed in Mareh 2022 showed we had areas where we could improve but that the values of the
organisation shone through. An action plan wa5 created to ensure that these improvements We￿ made and the
new PBS Lead completed her qualification in order to provide perSon￿ntred training lo our staff and complete
behavioural functt'onal assessments lo be able lo support the individuals to a high standard.
In the last year the seryice has doubled in size with Freeways taking over the management of the service for one
individual living In North Somerset and the stsff also transferring over to Freeways in September 2022.
Freeways were also asked by Bristol. North Somerset and South Gloucestershire Integrated Care Board
IBNSSG ICBI lo support an individual who was at)out to be made homeless. Freeways worked with Freeways
Trust lo use a vacant propety on an interim basis whilst a more pemianenl property coukl sourced. This
emergency placement has been a real success and Freeways continues lo support her.
As noted the sector has fa￿d a number of issue5 over the year, with continued Covid-19 outbreaks and stsff
shortages, bul these have not stopped servi￿5 producing some wonderful achievements With the people we
support. Below is a selection of those out￿Me$..
People we support have attended a number of events through the year including Elton John's farewell
concert at Ashton Gate, the Queen's Platinum Jubilee events, Bristol City football matches 8nd numerou5
holidays including to Lanzarole and Benidomi.
One individual went to the Hippodrome for the first time ever as previously this was perceived as too great 8
risk due to his behaviours.
Individuals were supported to retum lo work or re-learn bus routes when opportunities Te-started after Covid-
19, and others saw their families who live a significant distsnce for the first time in over 3 years.
Individuals have been supported to make decislons where they are able. These have included..
havlng the confidence to complain about familbal relationships
pul their case lo a judge in 8 hearing regarding their tenancy
complain about healthcare professionals where services were not al the standard others would expect
have greater understanding lo make decisions about their own health including what tests lo have and chose
not lo have
lo remain in their home for as long as possible with temiinal cancer diagnoses
staff have supported individua15 to achieve many financial outcomes which have led to an improved quality of
living. Some key examples are below..
Client 1 was living alone in his family home after his mother had moved into a Ca￿ home. The tenancy had
not been updated in to Client 1's narne and he was facing eviction.
Client 1's house was in disrepair as he had no carpels, no whf(e goods, furniture piled up in the living room,
black bags of rubbish in the kitchen and he was sleeping on a mattress in the living room.
Client 1 had renvbedroom lax arrears. council tax arrears, water arrears and was not on the correct benefits.
He was supported lo appty for wetfare support lo clear the council lax debt and lo apply for a cooker. fridge
Page 5

FREEWAYS
IA COMPANY LIMITED BY GUARANTEE)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2023
and freezer which he was awarded.
Sadty Client 1's Mum passed away and he needed his support to focus on apptying for fiinding for the
funeral and arranging rt, receiving over £11,000 lo dear utility debts, rent arrears and contribute lo the
funeral costs.
When the team slarted lo support Client 2 he was trying lo live on £3￿ per rnonlh from his benefits, was in
ill health and was a￿ayS overdrawn with the bank. He had no sofa, chairs or vacuum cleaner, his bed
needed replacing and his clDlhes were loo small. He had applied for PIP with other support bul had been
refused. He was SLJPPOrted lo reapply for PIP and to ensure DWP pul reasonable adjustments in Pla￿ lo
ensure his needs were met.
Client 2 was finally award enhanced rate daity living allowan￿ and mobility and had a back payment of
neady £7,000. Whilst he was wath'ng lo hear from his benefits applicatson he was supported lo access a
grant for clothes and furniture.
Client 3 was supported to claim Universal Credit {UCI and Personal Independence Payment IPIP). Client 3
was awarded UC bul his application for PIP was refused. He was supported lo appeal which was also
rejected and therefore we look his case to tribunal to argue and submil evidence lo support the application.
He won the tribunal and was awarded enhanced rate daily living and enhanced rate of mobility. Client 3 also
had a back payment of £5,000.
Freeways continues lo support wider inilialives to ensure quality across the region including."
Member of South Gloucestershire Safeguarding Adults Board
Member of Keeping Bristol Safe Partnership
Member of the Slop Adu5t Abuse Week Group arranging events across the Avon and Somersel Police Area
including mulli-ageney staff conference
C￿ChaIr of the Working Age Provider Forum in Bristol
Provider Representslive on the Learning Disability ProvKler Forum in Bristol
Evolution
Freeways have worked ciosely with their main landlord, Freeway5 TTUSt and specialists from the local authorit￿s,
including occupational therapists, lo design properties to meet the needs of current and future individuals who
we may support.
Freeways Trust are in the process of applying for planning permission lo build an eight bed supported living unit
with some communal Spa￿ for individuals living in one of our services and another single person units lo
further expand the PBS servi￿.
Freeways and Trust have worked together lo lake the learning from our past PBS experiences lo ensure the
highest quality for the people who will make the houses their home and the safest environment for stsff lo work
with monitoring and safe exits.
The charity has completed a PBS Strategy and work has been undertaken to understand how we can increase
OUT capacity in this area. As 8 charity we have the needs of the people we sUPPOrt at the ￿￿tre of our evolution
and although we understand thi5 to be an area where services are lacking, our strategy is clear that we Can only
scale up if we are certain of our ability to provide a quality setvice. The charity is also aiming lo look al diverse
funding streams and partnerships lo be able lo sourcg high qualrty housing stock for this group.
Freeways Trust are also in the process of applying lor planning permission lo convert an old residential care
home in Weston Super Mare into 12 one bedroom flats with some communal space. This building also benefits
from an elevator which will allow our client group, who is aging, to remain in the propety and be independent as
long as possible.
Page 6

FREEWAYS
(A COMPANY LIM￿ED BY GUARANTEEI
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2023
With these two new builds, Freeways will be working closety with our current cohort. their farnilies and fijnding
authorities to ensure people make the best chol￿S for them and any transition is smooth. Due lo the length of
bulk1 lime these projects will not be completed before 2024-25.
Freeways and Freeways Trust have linked together to work with Fulur&leap lo undertake an exercise measuring
our baseline carbon footprint. The diagram below shows the key results.
Wld5ry
Tr*iv•I
Woll••
Suppli*
$•rvlc••
The in4eplh data will allow us to complete a combined environmental strategy and work towards energy saving
and reduction of our environmental impact through the transport policy and usage. In addition our new properties
are looking al enhanced use of air-source heat pumps and solar t)owe¥ to support this str81egy.
Finally Freeways are working towards a procurement strategy lo allow us lo use our buying power to shape tho
market, requiring organisab'ons with which we work to share their equality, diversity and inclusion policies and
environmental statements.
Page 7

FREEWAYS
IA COMPANY LIMITED BY GUARANTEEI
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 P•lARCH 2023
Dlsclosure of infomialion to auditors
Each of the persons who are Trustees at the lime when this Trustees, Report is approved has confirmed that..
so far as that Tru51ee is aware, there is no relevant audit information of which the charitable group's
avdilors are unaware. and
that Trustee has taken all the steps that ought lo have been taken as a Trustee in order to be aware of
any relevant audit information and to establish that the charitable group'5 auditors are aware of that
infr)rmation.
Audltors
The auditor5, Bishop Fleming LLP, have indi¢ated their w¢llingness to continue in office. The designated Trustees
will propose a motion reappginting the auditors al a meeting ol the Trustees.
prov
by order of the members of the board of Trustees and signed on their behalf by..
C C Britton
Trustee
hair
Dale..
Page 8

FREEWAYS
IA COMPANY LIMITED BY GUARANTEE}
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF FREEWAYS
Oplnlon
We have audited the financial statements of Freeways (the 'parent charitable Gompany'l and ils subsidiaries (the
'9roup'i for the year ended 31 MaTch 2023 which comprise the Consolidated Statement of Financial Activities,
the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Slalemenl of Cash Flows and
the related notes. including a summary of significant accounting policies. The financial reporbng framework that
has been applied in their preparation is applicable law and United Kingdom Accounting Standards, induding
Financial Reporting Standard 102 'The Financial Reporting Standard applicable In the UK and Republlc of
Ireland, (United Kingdom Generally Acceptsd Accounting Praclicel.
In our opinion the financial statements..
give a true and fair view of the state of the Group's and of the parent charitable cornp8ny's affairs as at 31
March 2023 and of the Group's incoming resources and application of resources. including its Income and
expenditure for the year then ended.,
have been property prepared in a￿OrdanCe with United kn'ngdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requlrements of the chari￿e$ Act 2011.
Basls for oplnlon
We conducted our audit in accordance with International Stsndards on Auditing IUKI IISAS {UKII and applicab5e
law. Our responsibilities under those standards are furtheT described in the Auditors. responsibilities for the audit
of the financial statements section of our report. We are independent of the Group in accordance with the ethical
requirements that are relevant lo our audit of the financial statements in the United Kingdom, including the
Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical resp)nsibililies in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate lo provKJe a basis for our opinion.
Concluslons rglatlng lo golng conc9rn
In auditing the financial stslemenls, we have concluded that the Tnjstees, use of the going concern basis of
accountr'ng in the preparation of the financial slalemenls is appropriate.
Based on the work we have perfomied, we have not identified any material uneertainties relab'ng to events or
conditions that, individually Of collectively. may cast significant doubl on the Group's or the parent charitable
company's ability lo continue as a going concern for a period of at least lylelve months from when ihe financial
statements are authorised for issue.
Our respon5ibililies and the responsibilities ol the Trustees with respect to going concern are descTibed in the
relevant sections of this report.
Other Informatlon
The other infomiation comprises the information included in the Annual Report other than the financial
ststemenls and our Auditors. Report Ihereon. The Trustees are responsible for the other information contained
within the Annual Report. Our opinion on the financial Staterr￿nIS doe5 not cover the other information and,
except lo the extent othetwise explicitly stated in our report, we do not express any form of assuran￿ conclusion
Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other
information is materialfy inconsistent with the financial slalemenls or our knowledge obtained in Ihg course of the
audit, or otherwise appears lo be materially misstated. If we identify such material inconsislen¢ies or apparent
material misslalemenls, we are requiTed lo determine whether this gives rise lo a material misstalernent in the
financial statements themselves. If, based on the work we have performed. we conclude that there is a material
misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 9

FREEWAYS
IA COMPANY LIMITED BY GUARANTEE
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF FREEWAYS (CONTINUED)
Mattefs on which we are requirtrd to report by excgptlon
We have nothing to ￿pOrt in respect of the following matters where the Charities IAccoun15 and Reports)
Regulations 2008 requires us to report to you if, in our opinion..
the information given in the Trustees, Report is inconsistent in any material respect with the financial
slalernents., or
the parent charitable company has not kept suffiuenl accounting records,. or
the parent chaTitsble company financial slalemenls are not in agreement with the accounting records and
returns., or
we have not received all the infomalion and explanats.ons we Tequire for our audiL
Re5ponslbllltles of Irustee8
As gxplained more fully in the Trustees, Responsibilities Statement, the Trustees (who are also the directors of
the charitable company for the purposes of company lawl ale responsible for the preparation of the financial
slalemenls and for being satisfied that they give a true and fair view, and for such internal control as the
Trustèes determine is necessary to en8ble the preparation of financial statements that are free from matetial
misslalemenl, whether due lo fraud or error.
In preparing the financial slalemenls, the Trustees are responsible for assessing the Group's and the parent
charitable company's abi11ty lo continue as a going Concern, disclosing, as applicable, rnallers related to going
concern and using the going concern basis of accounting uniess the Trustees either intend lo liquidate the Group
or the parent charitable company or to cease operations. or have no realistic altemative but to do so.
Page 10

FREEWAYS
(A COMPANY LIMtTED BY GUARANTEE)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF FREEWAYS ICONTINUEDI
Audltors. rgsponslbllhles for the audlt of the flnanelal 8tatoments
We have been appointed as auditor under section 152 of the Charities Act 2011 and report in accordan¢e with
the Act and felevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misststement, whether due to fraud or error, and to issue an Auditors, Report that includes our
opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in
accordance wth ISAS IUKI will always detect a material miss181ement when il exists. Misstatements can arise
from fraud or error and are considerecl material if, indivKfually or in the aggregate, they could reasonably be
expected lo influence the economic decisions of users tsken on the basis of these financial statements.
Irrogularilies, including fraud. are instances of nonwCOTnpliance with laws and regulation5. We design procedures
in line with our responsibilities, outlined above, lo detect material misstatements in respect ol Irregularits"es,
including fraud. The extent to which our procedures are capable of detecting irregularities, induding fraud is
detailed be￿..
We have considered the nature of the sector, control environment and financial procedures.,
We have considered the results of enquiries with management and trustees in reTratioTh to their own
identsfication and assessment of the risk or irregularities within the entity.,
We have reviewgd the documgntalion of key processes and controls and performed walkthrough5 of
transactions lo confim that the systems are operating in line wrth documentation.
As a result of these procedures, we have considered the opportuntties and inc&ntives that may exist within the
organisalion for fraud and identified the highest area of risk lo be in relation to revenue recognition, with a
particular ￿sk in relation to yearénd eut off. In common with all audits under ISAS IUKI we are also required to
perform specific procedures lo respond t¢ the risk of management override. We have also obtained
underslanding of the legal and regulatory frarneworks that the company operates in, focusing on provisigns of
those laws and regulations that had a direct effect on the delerminalion of material amounts and disclosures in
the financial statements. The key laws and regulations we considered in this context included the UK Companies
Act, FRS 102 and UK lax legislation. In addition, we considered the provisions of other laws and regulations that
do not have a direct effect on the financial statements but compliance with which may be fundamenlal to the
Company's abilrty lo operate or avoid a material penalty.
Our procedure5 to respond to the ident*fied risks included the lollowing-.
Reviewing the financial statement disclosures and testing to supporting documentation lo asses5 compliance
wrth provisions of relevant laws and regulations described as having a direct effect on the financial
stslements".
Perfoming analytical procedures to identify unusual or unexpected relationships Ihal may indicate risk of
material mistatement due to fraud-,
Reviewing board meeting minutes.,
Enquiring of management in relation lo actual and potential claims or liligalions,.
Perfomiing detailed Iransadional lesling in relats.on lo the recognition of revenue wth a particular focus
around year*nd cut ofF. and
In addressing the fisk of fraud through management override of controls, lesllng the appropriateness of
ioumal entries and other adjustments, assessing whether the judgements made In accounting estimates are
indicative of potential bias,. and evaluating the business rationale of signfficanl transacts'ons that are unusual
or outside the normal course of business.
We also communicated identifi'ed laws and regulations and potential fraud risks lo all members gf the
engagement team and remained alert to possible indicators ol fraud or nOn￿mplIanCe with laws and
regulations throughout the audit.
Becayse of the inherent limitstions of an audit, there is a risk that we will not detect all irregularities. including
those leading to a material mistalemenl in the financial ststemenls or nonpcompliance with regulation. This risk
Page11

FREEWAYS
IA COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF FREEWAYS (CONTINUED)
increases the more that Complian￿ with a law or regulation is removed from the events and transactions
reflected in the financial stalemenls, as we will be less likely lo become aware of instances of nondcompliance.
The risk is also greater regarding irregularities occuring due lo fraud rather than error. as fraud involves
inlentsonal concealment. forgery, collusion, omission Dr misrepresentation.
A fvrther description of our responsibilities for the audit of the financial statements is located on the Firiancial
Reporting Counryl's websrte at.. vNM.frc.or
.ukJaudrtorsres
ies. This descr+plion fomis part of our
Auditors, Report.
U80 of our roport
This report is made solely to the charitable company's members, as a body, in accordance wth Part 4 of the
Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state
to the chanlable company's members those matters we are required to stale to them in an Auditors, Report and
for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone
other than the charitable company and its members. as a body, for our audit work, for this ￿pOrt, or for the
opinion5 we have formed.
David Butler FCA DChA
Bishop Flemlng LLP
Chartered Accountan15
ststulory Auditors
10 Temple Back
Bristol
BS16FL
Date.. 6 December 2023
Bishop Fleming LLP are eli9ible to act as auditors in terms of section 1212 of the Companies Act 2006.
Page 12

FREEWAYS
IA COMPANY LIMrrED BY GUARANTEE)
CONSOLIDATED STATEMENT OF FINANCIAL ACTnimES (INCORPORATING INCOME AND
EXPENDITIJRE ACCOUNTI
FOR THE YEAR ENDED 31 MARCH 2023
Unrestricted
funds
2023
£000
Restrided
funds
2023
£000
Total
funds
2023
£000
Total
funds
2022
£000
Note
Income from:
Donations and legaeies
Charitable activits.es
10
7,733
62
15
358
6,942
77
7.733
62
Other trading activities
Investrmenls
15
Total income
7.814
7,820
7,377
Expanditurg on..
Raising funds
Charitable activities
30
7,798
{1)
7,797
6,914
Total expenditUT•
7,828
{1)
7,827
6,914
Not movement In funds beforg OthoT
recognlsed galnslllossos)
(141
(7}
Other Tecognlsed galnsl{1O8s￿).
Actuanal Ilossesllgains on defined
benefit pension schemes
20
15861
15861
577
Net movement In fund8
16001
15931
1,040
Reconclllatlon of funds:
Total funds brought forward
Net movement in fut)ds
2.526
{600}
1231
2,503
{5931
1.463
1.040
Totsl funds ￿rried forward
1.926
116}
1.910
2,503
The Consolidated Statement of Financial Activit￿$ includes all gains and losses r￿]gniSed in the year.
The notes on pages 19 to 34 forni part of these financial statements.
Page 13

FREEWAYS
IA COMPANY LIMrrED BY GUARANTEEI
REGISTERED NUMBER:02209114
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2023
2023
£000
2022
£000
Nole
Flxed assets
Tangible assets
10
100
53
100
53
Current assets
594
1,935
Debtors
Cash al bank and in hand
12
973
1,591
2,564
2,529
Creditors". amounts falling due within one
year
{561)
13
$4>
Net current assets
1,810
1,968
Tolal assets less currant liabilities
Defined benefit pension scheme asset
1.910
2,021
20
482
Total net assets
1,910
2,503
Charlty funds
Reslricled funds
Unrestricted funds.
14
{161
{231
Designated funds
General funds
14
22
22
2,022
14
1,904
Unrestricted funds exduding pension asset i
14
1,926
2.044
482
Pension ￿serve
14
Total unrestricted fund5
14
1.926
2,526
2,503
Totsl funds
1.910
The Trustees acknowledge their responsibilities lor comptying with the requirements of the Act with Tespecl to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable lo entities subject lo
the small companies regime.
The financial statements were approved and aulhorised for issue by the TTUStees and signed on their behalf by..
Page 14

FREEWAYS
IA COMPANY LIMITED 8Y GUARANTEE
REGISTERED NUMBER..02209114
CONSOLIDATED BALANCE SHEET ICONTINUEDI
AS AT 31 PJIARCH 2023
Rftz
F S Morton
Chair
C C Brltton
Trustee
Date".
The notes o
ges 19 to 34 form part of these financial statements.
Page 15

FREEWAYS
IA COMPANY LIMITED BY GUARANTEE)
REGISTERED NUMBER.'02209114
COMPANY STATEMENT OF FINANCIAL posrrioN
FOR THE YEAR ENDED 31 MARCH 2023
2023
£000
2022
£ooa
Note
Flxed assets
Tangible assets
10
100
53
100
53
Current assets
Debtors
Cash al bank and in hand
12
965
1,560
587
1,892
2,525
2,479
Creditors.. amounts f811ing due within one
13
{7501
15561
Ngt current assets
1.775
1,923
Net assets excluding pènsion asset
Defined benefit pension scheme asset
1,875
1,976
20
482
Total net assets
1,875
2.458
Charity funds
Restricted funds
14
123)
1231
Designated bjnds
General funds
unre5tn.cted funds excluding pension asset
14
22
22
14
1,876
1.898
2,459
2,481
14
Total unrestricted funds
14
1.898
2,481
Total funds
1,875
2,458
The Charitys net movement in funds for the year was £1583kl12022.' £1,017kl.
The Trustees acknowledge their responsibilities for complwng with the requirements of the Act with respect lo
accounting records and preparation of financial statements.
The financial statements have been prepared in accofdance wrth the provisions applicablè lo entitses subject lo
the small companies regime.
Thg financial ststements were approved and aulhorised for issue by the Trustees and signed on their behalf by..
Page 16

FREEWAYS
A COMPANY LIMITED BY GUARANTEE)
REGISTERED NUMBER:02209114
COMPANY STATEMENT OF FINANCIAL POSITION ICONTINUEDI
AS AT 31 MARCH 2023
F S Morton
Chair
C C Britton
Trustee
Date..
Thg notes on pages 19 10 34 form part of these financial statements.
Page 17

FREEWAYS
IA COMPANY LIMITED BY GUARANTEE}
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
2023
£000
2022
£000
Cash flows from operatlng actlvltles
Net cash used in operating aclNilies
12761
432
Cash flomry from investlng activities
Purchase of tangible fixed assets
{68}
Net Cash used In Investing a¢llvltie8
1S81
1111
Ci$h IIow8 from financlng activities
Net cash provlded by Ilnancing actlvitles
Change in cash and cash equlvalents in the year
Cash and cash equivalents al the beginning of the year
1344}
1,935
321
1,614
Cash and cash equlvalents at the end of the year
1.591
1,935
The notes on pages 19 to 34 form part of these financial slalements
Page 18

FREEWAYS
IA COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Gonoral Information
Freeways is a private charitable company limrted by guarantee, registered in England & Wales, company
registered number 02209114 and registered with the Charty Commission, charity number 298603. Its
registered office is Leigh Court Day Cenlre, Pill Road, Bristol, BS8 3RA.
Accounting policies
2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared in accordance with the Charib'es SORP IFRS 1021-
ounb.ng and Reportsng by Charities". Statement of Recommended Practice applicable lo charities
preparing their accounts in accofdance with the Financial Reporting Standaid applicable in the UK
and Republic of Ireland IFRS 102} (effective 1 January 20191, the Financial Reportin9 Standard
applicable in the UK aThJ Republic of Ireland IFRS 1021 and the Companies Act 2006.
Freeways meets the definIt￿n of a public benefit entity under FRS 102. Assets and liabilit￿S are
initially recognised at histor¢cal cost or transaction value unless otherwise slated in the relevant
accounting policy.
The Consolidated Statement of Financial Activities ISOFAI and Consolidated Balance Sheet
consolidate the financial slalements of the Company and ils subsidiary undertaking. The results of
the subsidiary are consolidated on a line by line basis.
The Company has taken advantage of the exemption allowed under section 408 of the Companies
Act 2006 and has not presented its own Statement of Financial Acb"vib"es in these financial
slalemenls.
2.2 INCOME
All income is recognised once the Company has enlillement lo the income, it is probable that the
income will be received and the amount of income ￿CeIVable can be measured reliably.
Grants are included in the Consolidated Stalement of Flnancial Activities on a receivable basis. The
balance of income received for specific purposes bul not expended during the period 15 shown in the
relevant funds on the Balance She@t. Where income is re￿iVed in advance of entitlement of receipt,
ils recognition is deferred and included in creditofs as deferred income. Where entiuement occurs
before ineome is ￿ceIved, the income is a￿rued.
2.3 EXPENDITURE
Expenditure is recognised once there is a legal or constructive obligation lo transfer economic beneff(
to a third paty, rt is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by acts'vity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each acb'vity. Direct costs attributable lo a single activity are allocated directly
to that ath"vity. Shared costs which contribute to more than one activity and support costs which are
not attributable lo a single acts.vity are apporb.oned between those activities on a basis consistent with
the use ol resources. Central staff costs are allocated on the basis of lime spent, and depreciation
charges allocated on the portion ol the asset's use.
Expenditure on charitable activities is incurred on d1￿CttY undertaking the aclivib'es vthich further the
Group's objectives. as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 19

FREEWAYS
IA COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies l¢ontinuedl
2A GOVERNMENT GRANTS
Government grants Telating lo tangible fixed assets are treated as defeffed income and released to
the Consolidated Statement ol Financial A¢livilie5 over the expected useful lives of the assets
conceined. Other grants are credited lo the Con501idated Statement of Financial Activities as the
Telated expenditure is incurred.
2.5 TANGIBLE FIXED ASSETS AND DEPRECIATION
Tangible fixed assets costing £NIL or MO￿ a￿ capilalised and recogni5ed when fiJture economic
benefits are probable and the cost or value of the asset can be measured ￿lIablY.
Tangible fixed assets are initially recognised at C05t. After recognrtion, under the cost model, tsngible
fixed assets are measured at Cost less a￿umUlated deprgciation and any accumulated Impairment
losses. All cos15 incurred lo bring a tangible fixed asset into ils intended working conditi)n should be
included in the measurement of cost.
Depreualion is chaTged so as to allocate the cost of tangitrAe fixed assets less their residual value
over their estimated useful lives.
Depreciation is piovided on the following bases..
Motor vehicles
Fixtures and fittings
10 330A straight line
20 330k straight line
2.6 INVESTMENTS
Fixed asset Investments are a fomi of financial in51rurnenl and are Initially recognised at their
Iransaelion cost and subsequently measured al fair value al the Balance Sheet date, unless the value
cannot be measured reliably in which case il Is rneasured at cost less impairment. Investment gains
and losses. whether realised or unrealised, are combined and presented as 'GainsllLossesl on
investments, in the Consolidated Slalemenl of Financial Activit￿s.
Investments in subsidiaries are valued at cost less provision for impairment
2.7 DEBTORS
Trade and other debtOT5 are recognised at the settlement amount after any trade discount offered.
Prepayrnents are valued al the amount prepaid nel of any trade discounts due.
2.8 CASH AT BANK AND IN HAND
Cash at bank and in hand indudes cash and short-lerm highly liquid investments with a short maturity
ol three months or less from the dale of acquisition or opening of the deposit or similar account.
Page 20

FREEWAYS
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accounting pollcles Icontinuadl
2.9 LIABILITIES AND PROVISIONS
Liabilities are recognised when there is an obligation al the Balance Sheet dale as a result of a past
event, it Is probable that a transfer of economic benefit will be required in selllemenl, and the amount
of th& settlement can be estimated reliabty.
Liabilities are recognised al the amount that the Company anlicipales it will pay to settle the debt or
the amount il has received as advanced payments for the goods or services It must provide.
Provisions are measured at the best e51irnale of the amounts required lo sellle the obligation. Where
the effect of the lime value of money Is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rale that reflects the risks specific lo the liability. The
unwinding of the discoL¢nl is rewgnised in the Consolidated Statement of Financial Activities as a
finance cost.
2.10 FINANCIAL INSTRUMENTS
The Group onty has financial assets and financial liabilitles of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured al their settlement value with the exception of bank loans which are sUbseqUen￿Y
measured at amortised cost using the effective interest method.
2.11 PENSIONS
The Group operates a defined contribution pension scheme and the pensbn char9e represents the
amounts payable by the Group to the fund in respect of the year.
2.12 FUND ACCOUNTING
General funds are unrestricted funds which are available for use al the discretion of the Trustees in
furtherance of the general objectives of the Group and which have not been designated for other
purposes.
Reslricled funds are funds which are to be used in accordance with specific restrIct￿nS imposed by
onors or which have been raised by the Group for parb'cular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each reslricled
fund 15 set out in the notes lo the financial statements.
Page 21

FREEWAYS
A COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Income from donatlons and legacies
Unrestrlcted
fund$
2023
£000
Restricted
funds
2023
£000
Total
funds
2023
£000
Donations
Grants
Government grar)ts
10
Unrestricted
ftjnds
2022
£000
Restricted
funds
2022
£000
Total
fvnds
2022
£000
Donations
Grants
Government grants
14
14
341
341
355
358
Income from charltable activities
Unrgstrictgd
funds
2023
£000
Total
funds
2023
£000
Residential and community care
Hydrotherapy services
7,588
165
7.568
165
7,733
7,733
Page 22

FREEWAYS
IA COMPANY LIMITED B Y GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Income from charitable actlvitles l¢ontlnued)
Unreslricled
funds
2022
£000
Total
funds
2022
£000
Residential and community care
Hydrotherapy services
6,785
157
6,785
157
6,942
6.942
Income from other tradlng actlvltles
Income from non charltablè tradlng actlvltlo8
Unrestrlcted
funds
2023
£000
Total
funds
2023
£000
Commercial hydropool use
62
62
Unrestricted
funds
2022
£000
Totsl
funds
2022
£000
Commercial hydropool use
77
77
Anatysis 01 oxpondlture by activitias
Activities
undertaken
dlrectty
2023
£000
Support
costs
2023
£000
Total
funds
2023
£000
Residential and Community Care
Hydrotherapy services
6,328
230
1,207
32
7,535
262
6,558
1,239
7,797
Page 23

FREEWAYS
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Analy51s of expendlture by actlvlties lcontlnued)
Activities
undertaken
directly
2022
£000
Support
costs
2022
£000
Total
ftjnds
2022
£000
Residential and community care
Hydrotherapy seNices
5,618
193
1,072
31
6,690
224
5,811
1,103
6,914
Auditors. remuneration
2023
£000
2022
£000
Fees payable lo the Group's auditor for the audit of the Group's annual
accounts
14,500
12,000
Fees payable to the Company's auditor in rèspect ol".
All non-audil services not included above
2,000
2.00
Staff costs
Group
2023
£000
Group
2022
£000
Company
2023
£000
ComparTry
2022
£000
Wages and salaries
Social secuTity costs
Conlributlon to defined eonlributlon pension
schemes
5,695
374
4,886
312
5.695
374
4,886
312
79
79
Operating costs of defined benefit pension
schemes
39
39
6,192
5,277
6,192
5,277
The average number of persons employed by the Company during the year was as follows".
Group
2023
No.
Group
2022
No.
Care of residents
225
25
213
19
Administration
250
232
Page 24

FREEWAYS
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Staff costs Icontlnuedl
The number of employees whose employee benefits (excluding employer penS￿n costs) exceeded
£60.000 was..
Group
2023
No.
Group
2022
In the band £60,001- £70,000
In the band £70,L)01- £80,000
The key management personnel comprise the Chief Executive, the Finance Director, the Senior
Managers and the HR Manager. The total employee benefits of the key management personnel of the
charity was £339k12022: £340kl.
Trustees. remuneration and expenses
During the year, no Trustees re￿IVed any remuneration or other benefrts12022- £NILI.
During the year ended 31 March 2023, no Trustee expenses have been incurred12022 - £NILI.
10. Tangible fixed assets
GROUP AND COMPANY
Motor Flxture$ and
vehl¢lo$
flttlngs
£000
£000
Total
£000
COST OR VALUATION
At 1 Apfil 2022
Additions
22
572
68
594
68
Al 31 March 2023
22
640
662
DEPRECIATION
Al 1 April 2022
Charge for the year
535
17
541
21
Al 31 March 2023
10
552
562
NET BOOK VALUE
At 31 March 2023
12
88
100
At 31 March 2022
16
37
53
Page 25

FREEWAYS
{A COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
11. Flxed asset investments
Principal subsidiaries
The following was a subsidiary undertaking of the Company-.
Name
Company
number
Reglstered offlce or prlnclpal Princ5pal activity
place of business
Leigh Court Services Limited
06434021
Leigh Court Day Cenlre, Pill
Road, Abbots Leigh. Bristol.
BS8 3RA
Trading activities on
beha￿ of Freeways
Holding
Included In
consolidation
100V. Yes
The financial results of the 5ub5idiary for the year were..
Name
Income
£000
Expenditur& Profftl{Lossl
£000 for the year
£000
Net assets
£000
Leigh Court Services Limited
62
30
32
35
12. Debtors
Group
2023
£000
Group
2022
£000
Company
2023
£000
Company
2022
£aoo
DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income
637
15
321
343
629
15
321
336
243
243
973
594
965
587
Page 26

FREEWAYS
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
13. Credltors: Amounts falllng due wlthin one year
Group
2023
£000
Group
2022
£000
Company
2023
£000
Company
2022
£000
Trade creditors
other taxation and social securty
Other creditors
Accruals and deferred income
156
92
131
76
156
92
131
76
65
441
43
311
61
441
311
754
561
750
556
Page 27

FREEWAYS
IA COMPANY LIMITED B Y GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
14. Statement ot funds
ststement of funds - current year
Balance at
31 March
2023
£000
Balance at 1
April 2022
£000
Transfers
inlout
£000
Galnsl
ILo$se81
£000
Income Expenditure
£000
£000
UNRESTRICTED
FUNDS
General funds
Designated fund-
Hardship fund
Designated fund -
Pension reserve
2.022
7.814
{7,932)
1,904
22
22
482
104
15861
2.526
7.814
17,8281
{$861
1.926
RESTRICTED
FUNDS
Working and
learning
opportunities
Workforce
Development
Fund
Covid-19 grants
1291
{221
{2)
123)
116)
TOTAL OF FUNDS
2,503
7.820
17.82YI
1586)
1,910
Page 28

FREEWAYS
{A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
14. Statemènt of funds Icontinuedl
statement of funds - prior year
Balance at
31 March
2022
£000
Balance al
1 April 2021
£000
Transfers
inloul
£000
Gainsl
(Losses)
£000
Income Expenditure
£000
£000
UNRESTRICTED
FUNDS
General funds
Designated fvnd -
Hardship fund
Designated fun
Pension reserve
1,687
7,022
{6,5621
11251
2,022
22
22
12201
125
577
482
1,489
7,022
16,5621
577
2,526
RESTRICTED
FUNDS
Working and
learning
opportunities
Workforce
Development
Fund
Covid-19 Giant
132)
14
341
{111
{3411
129)
1261
355
13521
1231
TOTAL OF FUNDS
1,463
7.377
{6,9141
577
2,503
Page 29

FREEWAYS
IA COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
15. Summary of fund8
Summary of funds- current year
Balance at
31 March
2023
£000
Balanc8 at 1
April 2022
£000
Galnsl
{Lossesl
£000
Income Exponditure
£000
£000
General funds
Restricted funds
2.526
123}
7.814
17.8281
15861
1,926
2,503
7,820
17,827)
{5861
1,910
Summary ol funds- prioryear
Balance at
31 March
2022
£000
Balance at
1 April 2021
£000
Transfers
inlout
£000
Gainsl
(Lossesl
£000
Income Expenditure
£000
£000
General funds
Reslri¢led funds
1,489
1261
7,022
355
16,5621
13521
577
2,526
1231
1,463
7,377
16,9141
577
2,503
16. Analysis of net assets between funds
Analysi$ of net as$ot$ bgtwgen fund$ - current y8ar
Unrestrlcted Restrlcted
funds
funds
2023
2023
Éooo
£000
Total
funds
2023
£000
Tangible fixed assets
Current a55ets
Creditors due within one year
100
2,564
1754>
2,564
17381
1161
TOTAL
1,926
1161
1,910
Page 30

FREEWAYS
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
16. Analysls of nèt assets between funds Icontlnuedl
Analysis of not assets betwgen funds- prior y8ar
Unrestricted
ftjnds
2022
£000
Restricted
funds
2022
£000
Total
funds
2022
£000
Tangible fixed assets
Current assets
Creditors du8 Wrthin year
Provisions for liabilities and charges
53
53
2,529
15381
482
2,529
15611
482
(231
TOTAL
2.526
{231
2,503
17. Reconclllatlon of net movement In funds to not cash flow from o￿latIng activttles
Group
2023
£000
Group
2022
£000
Nel incomelexpenditure for the year las per Statement ol FinanGal
Adiviliesl
(71
463
Depreciation chaiges
Increase in debtors
Increase in creditors
Income on defined benefit pension sGherr
21
13791
193
97
177}
74
11251
11041
NET CASH PROVIDED BYI{USED INI OPERATING ACTIVITIES
1276}
432
18. Anatysis of cash and ¢ash aquivalonts
Group
2023
£000
1,591
Group
2022
£000
1,935
Cash in hand
TOTAL CASH AND CASH EQUIVALENTS
1,591
1,935
Page 31

FREEWAYS
IA COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
19. Analysls of changes ITr net debt
At 1 April
2022 Cash flows
£000
At 31 March
2023
£000
£000
1,935
Cash al bank and in hand
13441
1.591
Penslon commitmènts
The Group operates a defined benefit pension scheme.
The assets of the scheme are held separately from those of the group in an independently administered
fund. The pension cost charge represents contribulK)ns payable by the group to the fund and amounted lo
£84k12022.' £79kl.
The scheme is dosed lo future accrual. A schedule of contributions Is &g￿ed between the Company and
the trustee5 of the scheme after each comprehensive valuation.
The most re￿nI comprehensive actuarial valuation look place a5 al 31 March 2021. Under the ¢urrent
schedule of conlribulions, the Company shall pay contributions of £128k per 8nnum until 31 December
2026. The Company shall also pay the expenses of administering the scheme.
Independent consulting actuaries, Quantum Advisory, update the actuarial valuations al each balance
sheet date.
Principal actuarial assumptions al the Balance Sheet dale (expressed as weighted averages)..
At 31 March Al 31 March
2023
2022
Discount rale
Rate of price inflation IRPII
Rale of increase for pensions in defemenl
Rate of penslon increases." pensions from 6 April 1997 to 31 March 2001
Rate of pension increases. pensions accrued from a April 2001
4.70
3.30
2.70
3.70
2.80
4.10
3.10
3.90
3.50
3.20
At 31 March At 31 March
2023
2022
Years
Years
Mortality rate5 lin yeaTS)
- lor a male aged 65 now
- at 65 for a male aged 45 now
for a female aged 65 now
- at 65 for a female aged 45 now
21.9
22.8
21.8
22.8
24.2
25.3
24.2
2S.4
Page 32

FREEWAYS
{A COMPANY LIMrrED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Pension commitments Icontinuodl
The Group's share of the assets in the scheme was..
At 31 March Al 31 March
2023
2022
£000
£000
Equities
Commodoties
3.097
191
3,550
176
924
239
67
Fixed interest
Cash
Annuities
1,034
363
37
TOTAL FAIR VALUE OF ASSETS
4,712
4,956
The actual return on Scheme as5els was £1255kl12022 - £113kll.
The arnounts recognised in the Consolidated Statement of Financial Activities are as follows.
2023
£000
2022
£000
Past service cost
Expected retum on scheme assets
Interest on obligation
TOTAL AMOUNT RECOGNISED IN THE CONSOLIDATED STATEMENT
OF FINANCIAL ACTIVITIES
39
{1391
124
99
11021
24
131
Movements In the present value of the defined benefit obllgation were as follows..
2023
£000
Opening defined benefit otAigation
Interest cost
Actuarial gains
Benefits paid
Past service costs
4,474
124
(1,062)
1117)
39
CLOSING DEFINED BENEFIT OBLIGATION
3,458
Page 33

FREEWAYS
IA COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
20. Ponslon commltments Icontsnued)
Movemen15 in the fair value of the Group's Share of scheme assels were as follows..
2023
£000
Opening fair value of scheme assets
Interest income
Actuarial losses
Contributions by employer
Benefits paid
4,956
139
{1,6481
128
1117
CLOSING FAIR VALUE OF SCHEME ASSETS
3,458
The Group has an unrecognised SYTplus of £1,254,000 in respect of ils defined ￿nefit pension 5eheme
as il does not expect to recover the plan surplus either through reduced conlnbulions in the fvjture or
through refunds from the plan.
21.
Operating lease commltments
Al 31 March 2023 the Group and the Company had commitments lo make future minimum lease
payments under non-cancellable operating leases as follows".
Group
2023
£000
Group
2022
£000
Company
2023
£000
Cornpany
2022
£000
Not later than 1 year
Later than 1 year and not later than 5 years
22
27
22
13
13
27
17
49
17
49
22. Related party transactions
The Trustees also represent the majority of Ihe Board of Trustees of Freeways Trust. a charitable
company that provide5 iesidenb'al and day care services building facilities for persons with ￿arnIng
disabilities. FTeeways leased the charity's properties and paid £51 Ok12022.. £464kl lo Freeways Trust in
the year ended 31 March 2023. F￿eWayS Trust paid £Nil 12022.. £11kl lo Freeways in respect of
management charges and was paid £54k12022." £40kl by Freeways In respect of management charges.
At the year end Freeways owed Freeways Trust £3k12022'. £3kl.
Page 34