Registered number- 02209114 Charity number: 298603 FREEWAYS TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ishop Fleming
FREEWAYS CONTENTS Page Reference and Administrativo Details of the Company. its Tru$teos and Advi$grs Trustees. Report Trustees, Responslbilities Statement Independent Audltors. Report on Ihe Financial Statements 9-11 Consolldatod Statement of Flnan¢lal Actlvlties 12 Consolidated Balance Sheet 13 Company Balance Sheet 14 Consolidated Statgrngnt of Cash Flows 15 Notes to the Financial Statements 16-31
FREEWAYS REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees M S Bamett C C Britton C A Browne A M Heaton F S Morton D Y Pincott B E Sawyer Cornpany registergd number 02209114 Charity registered number 298603 Registered office Leigh Court Day Centre Pill Road Abbots Leigh Bristol BS8 3RA Company secretary Rachol Burkinshaw Chief èxecutive officer Claire Hayward Independent auditors Bishop Fleming LLP Chartered Awountsnls 10 Temple Back Bristol BS16FL Bankers Barclays Bank pl 86 Queens Road Clifton Bristol BS8 1RB National Westminster Bank pl 13 High Street Westbury-on-Trym Bristol BS9 3BF Solicltors Burges Salmon LLP One Glass Wharf Bristol BS2 QZX Page 1
FREEWAYS TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together with the audited financial statements of the Company for the 1 April 2023 to 31 March 2024. 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 ch?ritable company comply with the currerbt ststutory requirernenls, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice ISORPI applicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffective 1 January 20191. Since the group and the Company qualify as small under section 383 of the Companies Act 2006, the Group Strategic Report required of medium and large companies under the Companies Act 2006 (strategic Report and Directors, Report) Regulations 2013 has been omitted. Oblectlves and activities a. Objectlves and aetiviti08 The objects of the charity, set out in the Memorandum of Association, can be summarised as.. To support adults with a learning disability for the public benefit. Freeways undertakes this by supporting individuals in residential homes, in supported living servi$, day services, the community and in the hydrotherapy pool. The Freeways, Vision Slalement is A Provider of Choice this is the defining statement which ouuines 11s intent. and ils Mission Statement, "Quality. Wellbeing and Evoluts'on" indicates the methodology by which it chooses lo conduct its business. Underpinning these statements are six organisalional values.. Putting People First Having Great staff Being Active in the Community Planning for the future Making Every Penny Count Ensuring Effecbve Governance and ComplBnce Achievements and perfomiance a. Main achievements of the charlty Wellbeing In the past year, there have been a number of initiatives lo support the wellbeing of the people we support and we have conts'nued lo work with health professionals and be proactive to prevent or support early detection of health concerns. This has continued with the vaccination of both staff and the people we support where eligible for Covid. flu and pneumonia. A nurnber of seNices have invited training ft)r the people we support around understanding bowel issues and when to be concerned_ This training was also offered to the management teams to ensure they were proaetive in starting these really important conversations within their services. The last few years have taken a loll on stsff working in social care,. the aftermath of the pandemic followed by the worst staffing crisis in the sector's memory. These have put pressure on staff and we have seen an increase in longstanding stsff leaving the sector as they have stnjggled wlh their health and wellbeing. We therefore recognise there is a real need to support managers to walk the line beeen fv40 competing drivers.. the need to support staff who are struggling wtth their mental health, their menopause or other issues.. and the need of the people we support. To this end we cornrnissioned specialist training from ACAS and have tn"alled this training with the aim of disseminating it throijghout the charity. Page 2
FREEWAYS TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 We are taking the lime lo focus on good news stories, recognising that when we are bsY we tend to focus on areas of need and risk. To balance what can feel to be a negative viewpoint for staff, we have started to focus on sharing good news stories and have used our social media to share these more widety to highlight the great outcomes achieved by the people we support and our staff. We have 81so started to trial a neurtsdiversity screening tool which highlights the positive attributes of people with neurodiversity and helps them lo identify possible reasonable adjustments we Can put in place. The organisation, along with the Wellbeing group, have continued with a number of wellbeing actions and worked hard to communicate these with staff. These include.. Information leaflets at key dates in the year Employee Assistance Programme IEAP}', 24 hour confidential helpline (including access to counselling, financial and legal advice) and online health portal. Health Assured IEAPI Newsletters Shad with 5ervi¢es Mental Health resources lavailable on management information) Wellbeing Group (with a member in each service) Staff Representative Group Occupational Health Able Futures Access to Work Mental Health Awareness Training for all staff Manual Handling training First Aid Training Access to the Hydrotherapy Pool at designated limes SupeNisions Team Meetings Organisational Sick Pay Employers NeOrk for Equality & Inclusion Disability Confident Employer Financial Support Organisations i.e. Mind Freeways continues to works with ENEI to measure our achievements around Equality and Diversity, recognising there is still much work to be done in this area, and is looking at our training and development and procurement processes to support contsnuous improvements over the next year. Page 3
FREEWAYS TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Quality A new post has been identified and recruited lo for a Quality and Operations Manager, who will sil within the senior leadership team. The main part of their role will be lo complete deep dive audits into all services and support managers to put improved action plans in place. One of our newest types of service5. specialist Posrtive Behaviour Support IPBSI seices which support individuals at risk of needing a hospital placement due to the frequency, intensity and longevity of their behaviours which can challenge others, has continued to be a real success this year. The team supported an emergency placement whilst a permanent home could be found and received wonderful feedback from the professionals involved about the support offered and the transition to their new home. The HR team have worked hard to reverse the recruitment Issues which faced the sector and we finished the year with not only a 5ignificanlly redUd vacancy level {7.4°Al but with no vacancies in a number of services also. Being Active in the Community In the last yeaF we have really been Celebrating the volunteering and work activities of the people we support. One individual we have supported for over 30 years has recently celebrated working for 25 years al John Lewis, whilst another has helped a charity called Changing Lives lo upcycle furniture, raising over £2,500 to help others make positive changes. One other person we support is a film maker and premiered their film in London with support from the Dolby Institute Fellowship and ran an event al a local arts centre during the year. There have been many other sccial trips and fun even15 in the year which can be viewed on our Facebook page. Aehieving Outcomes and Making Safe As always there are some wonderful stories where consislenl and persistent support has made a significant impact on the quality of life for an individual and provided outstanding outcomes for them In many of our sefviee5. One individual we sUPPOrt was given a diagnosed with terminal cancer and, following operations and treatment. was then diagnosed with a significant heart condition. The prognosis was not good. In the last year they have been told that not only have they ouuived the expectab'ons of the medical team, bul that they could also reduce their medication due to the consislenl support ot staff and the lime spent lo help them understand and accept the Feslriclions on Iheir life. After 18 months of being a victim of bulling and harassment from their neighbour for a number of years, we supported an individual to move to a new flaL They are now happily settled there and getting on well with their new neighbours. Another person we support had been struggling with their mental health and sensory Autism which, due 10 sound sensitivity to the neighbour's dog, had triggered suicidal ideations. The support worker arrived lo find the individual planned to end their life that day. and so spent the session Speaking lo the mental health crisis team and recovery team to gel urgent support as well as putting a safety support plan in place. Ongoing work has taken place with Curo, a housing association, regarding their access systems for people that are Deaf and it has been confirmed that the final amendments are being made to the contract with Sign Video. Freeways continues to support wider initiatives lo ensure quality across the region induding." Member of South Gloucestershire Safeguarding Adults Board Member of Keeping Bristol Safe Partnership Member of the Slop Adult Abuse Week Group arranging events acros5 the Avon and Somerset Police Area including multi-agency staff conference Page 4
FREEWAYS TRUSTEES. REPORT (CONTJNUEDI FOR THE YEAR ENDED 31 MARCH 2024 Evolution Freeways have worked closely with their main landlord, Freeways Trust and specialists from the local authorities, including occupational therapists. lo design properties to meet the needs of current and future individuals who we may support. Freeways Trust have been successful in their application for planning permission to build an eight bed supported living unit with some communal space for individuals living in one of our services and another 2 units both for one individual to expand fvrther the P8S service. Fffeways and Trust have worked together to lake the leaming from our past P8S experiences to ensure the highest quality for the people who wll make these houses their home and the safest environment for staff to work with monitoring and safe exits. The cohort from Whiles moved as a group lo a temporary accommodation in order to support the move and are really enjoying their temporary home. Freeways retendered for all Bristol and South Gloucestershire contracts and were successful so will continue to support individuals across all our current services. Our B&NES service was due lo be transferred from the HCRG group lo council at the end of this year, but due to delay our contract was successfully renegotiated lo ensure il continues to cover costs and will run until the end of 2024-25. FewaYS were also approached by Bristol City Council to tender for a small Supported LNing Contract as another provider is reducing their offer locally. Freeways were $uc¢essfLtI with our bid and are hoping to start providing the service in Clifton al the beginning of 2024-25. The charity is continuing to embed the new A¢$$ system and are working to ensure that all client records including assessment are recorded within it. In addition the system holds the staff infonnation such as key management records and supports lime and attendance. The implementstion and embedding of this system is stsrttng to allow PortS to be prOdud lo improve our information and monitoring, which in turn aids decision making and more tsrgeted support and training to teams. FINANCIAL REVIEW Golng Concorn After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concem basis in preparing the financial statements. ReseNes Pollcy The Trustees examined the need for free reserves in light of the predominant risks to the organisation, its working capital requirements. the 2024-25 budget and future strategic plans. The policy continues to be set at building free reserves lo at least month's expenditure to PTovide security against unexpected fluctuations in income and expenditure due to short term service vacancies, changes in commissioning plans. costs running higher than expected and the investment in developing new services. Free reserves at 31 March 2024 were £1,997k12023'. £1,826kl. The organisation will look lo generate surpluses in future years lo relain adequate reserves, although future plans may necessitate some investment of reserves. The Trustees will continue lo review the reserves policy regulady and amend it accordingly dependent on the strategic plans of the organisation and any changes in circumstances. Page 5
FREEWAYS TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 a. Constitution Freeways was established in December 1987 and the governing document Is the Memorandum and Articles of Association of the company. Members of the Board of Trustees are the Directors of the company. The company is limited by guarantee having no share capitsl. In the 8venl of the company being wound up every member undertakes to contribute to the assets of the company up to an amount not exceeding £1. b. Mothods of appointment or election of Trustees The Trustees have delegated day lo day management of the charity lo the Chief Executive Officer who reports on the performance against strategic plans set and agreed by the Trustees with support from the Company Secretary. New Trustees invited lo join the Board are selected on the basis of their experience and skills. They are invited to visit a number of homes and to meet with existing board members before any appointment is approved. Trustees are encouraged lo attend appropriate external training events where these would facilitate the understanding of their role, and they are given at least bi-monthly updates by the Chief Executive Officer and, where appropriate, other members of the Senior Mana9ernent Team. . Related party relationships A separate charity, Freeways Trust (Charity no.11022161, has many common Trustees but is not under common control although both organisalions have similar charitable objects. Freeways currently leases most of its properties trom Freeways Trust, as reftected in the accounts. None of the Trustees receives remunerab'on or other benefit for their work with the charity. Any connection beeen a Trustee and a related paty or other organisation with which the charity co-operates musl be disclosed in the same way as any other conlraclual relationship with a related paty. The charity's wholly owned subsidiary Leigh Court Services Ltd was established to undertake trading activities on behalf of Freeways. All profits for the subsidiary undertaking are gifted to the charity. d. Public benefit The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard lo the Charity Commission's general guidance on public benefrt, 'Charilies and Public Benefif. Page 6
FREEWAYS TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Engagement with employees and employment of thg disabled Employee$ have been ¢onsutted on issues of concem to them by means of regular consullalive committee and staff meetings and have been kept informed on specific matters directly by management. The Group and the Company carry out exil interviews for all staff leaving the organisation and have adopted a procedure of upward feedback for senior management and the Trustees. The Group and the Company have implemented a number of detailed policies in relation lo all aspects of personnel matters including.. Equal opportunities policy Volunteers, policy Health & safety poITrcy In accordance with the Group and the Compan$ equal opportunib.es policy, the Group and the Company have longestsblished fair employment practices in the recruitment, selection, relonlion and training of disabled staff. Fijll details of these F)olicies are available from the Companys offices. Disclosur8 of inforniation 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 charltable group's auditors are unaware, and that Trustee has taken all the steps that ought lo have been taken as a Trustee in Ofder lo be aware of any relevant audit information and lo e5tsblish that the eharitable group's auditors are aware of that information. Auditors The auditors, Bishop Fleming LLP, have indicated their willingness to continue in offi. The designated Trustees will propose a motion reappointing the auditors al a meeting of the Trustees. Ap dbyo r of the members of the board of Trustees and signed on their behalf by.. Fsmort Chair of Trustees C C Brftton Trustee Date.. 25 September 2024 Page 7
FREEWAYS STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees, Report and thg financial statements in accordan with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Praclicel. Company law TequiTes the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a Ifue 2nd fair view of the state of affairs of the Group and the Company and of their incoming resources and application of resources, including their Income and expenditure, for that period. In preparing these financial slalemenls, the Trustees are required lo.. select suitable accounting policies and then apply them consislenily., observe the fflethods and principles of the Charities SORP IFRS 1021., make judgements and accounting estimates that are reasonable and prudent.. slate whether applicable UK Accounting Standards IFRS 102} have been followed, subject to any material departures disclosed and explained in the financial statements,. prepare the financial slalemenls on the going concern basi5 unles5 11 is inappropriale to presume that the Group will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Group and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Gioup and the Company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Company and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 8
FREEWAYS INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF FREEWAYS Opinion We have audited the financial statements of Freeways Ithe 'parenl charitable company'l and ils subsidiaries (the 'group'l for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated 8alance Sheet, the Company Balance Sheet. the Consolidated Statement of Cash Flows and the lated notes, including a Summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Iieland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the slate of the Group's and of the parent charitable companls affairs as at 31 March 2024 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended", have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 20C6 and the Charities Act2011. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing {UK} IISA5 IUKII and applicable baw. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial stslements section of our report We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, induding the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufflcient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng Concèrn In auditing the finanoal statements, we have concluded that the Trustees, use of the going concem basis of accounting in the preparation of the financial 5talemenls is appropriate. Based on the work we have perforrned, we have not identified any matefial uncertainties relab'ng to events or Conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of al least tsvelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. other Infomiatlon The other information comprises the information included in the Annual Report other than the financial statements and our Auditors. Report Ihereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other infomialion and, except lo the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether this gives rise to a maled81 misstatement 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 a required to report that fa¢1. We have nothing to report in this regard. Page 9
FREEWAYS INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF FREEWAYS (CONTINUED) Matters on which we are required to report by exceptlon We have nothing lo report in respect of the following matters where the ChatieS {A¢counts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. the information given in the Trustees, Report is inconsislenl in any material Tespecl with the financial statements,. or the parent charitable company has not kept sufficient accounting records,. or the parent charitable company financial statements are not in agreement with the accounting records and returns., or we have not received all the infomiation and explanations we require for our audit. R¢$ponslbllltlos of trusteos As expkined more ftjlly in the Trustee5' Responsibilities Statement, the Trustees Iwho are also the directors of the charitable company for the purposes of company lawl are responsible for the prepaotion of the financial stslements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary lo enable the preparalK)n of financial statements that are free from material misslalement, whether due to fraud or error. In preparing the financial slatemenls, the Trustees are fe5ponsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, mallers related lo going concern and using the going concern basis of accounting unless the Trustees either Intend lo liquidate the Group or the parent charitable company or to cease operations, or have no realistic aliernalive but to do so. Audltors, respongibllltles lor the audit of the flnanclal statements We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect Ihereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl, whether due to fraud or error, and lo 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 with ISAS (UK) will aKvays detect a material rni5Statemenl when it exists. Misslalemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial stalemenls. IrregulaTlties, including fraud, are instances of non-compliance with laws and regulations. We design procedvres in line with our responsibilities, outlined above, lo detect material misstatements in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud is detailed below.. 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 relation lo their own identification and assessment of the risk or irregularities within the entity., We have reviewed the documentation ol key processes and controls and perfomied walkthroughs of ITansaclions lo confirm that the systems are operating in line with docurnenlalion. As a result of these procedures, we have considered the opportunitses and incentives that may exist within the organisalion for fraud and identified the highest area of risk to be in relation to revenue recognition, with a particular risk in relation to year-end cut off. In common with all audits under ISAS (UK) we are also required to perform specific procedures lo respond lo the risk of management override. We have also obtained understanding of the legal and regulatory frameworks that the company operates in. focusing on provisions of those laws and regulations that had a direct effect on the delerminalion of material amounts and disclosures in the financial slalements. The key laws and regulations we considered in this context inclLJded the UK Companies Act, FRS 102 and UK tax 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 fundamental to the Page 10
FREEWAYS INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF FREEWAYS ICONTINUED) Company's ability to operate or avoid a material penalty. Our procedures to respond to the identified risks included the following.. Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a olirecl effect on the financial statements,. Performing analytical prOdureS to identify unusual or unexpected fflalionships that may Indi¢ate risk of materi81 mistalement due lo fraud., Reviewing board meeting minutes,. Enquiring of management in relation lo actual and potential claims or liligations", Performing detailed transactional testing in relation lo the recognition of revenue with a particular focus around year-end cul off,. and In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments,. assessing whether the judgements made in accounting estimates are indicattve of potential bias". and evaluating the business rationale of significant transactions that are unusual or outside the nomial course of business. We also eommunicaled hlentified laws and regulations and potenb'al fraud rtsk5 to all membets of the engagement team and rernained alert to possible indicators of fraud or non-complian¢e with laws and regulations throughout the audit. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material mislatemenl in the financial statements or non-cornpliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transaction5 reflected in the financial slatemenls, as we will be les5 likely to become aware of instances of non-wmpliance. The risk is also greater regarding irregularities occuring due to fraud rather than error, as fraud involves intentional concealment, ft)rgery, collusion, omission or rnisrepresentalion. A fvrther description of our responsibilitses for the audit of the financial statements 15 located on the Financial Reporting Counal's website at.. www.frc.o .uk]audilorsres Thi5 description form5 part of our Auditors, Report. Usg of our report This report is made solely to the charitable company's members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Re9ulats'ons 2008. Our audit work has been undertaken so that we might slate to the charitable company's members those matters we are required to slate lo 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 bc*ly, for our audit work, for this report. or for the opinions we have formed. David Butler FCA DChA Bishop Flemlng LLP Chartered Accountants Statutory Auditors 10 Temple Back Bristol BS16FL Dale.. 27 November 2024 Bishop Fl8ming LLP are eligible to act as auditors in terms of secbon 1212 of the Companies Act 2006. Page11
FREEWAYS CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 £000 Restricted funds 2024 £000 Total funds 2024 £000 Total funds 2023 £cKJO Note Income from: Donations and legacies Charitable activities 10 9,141 68 62 36 46 9,141 68 10 7,733 62 Other trading activities Investments 62 15 Total Income 9,281 36 9,317 7,820 Expenditure on: Raising funds Charitable actr'vitses 28 8,896 28 8,928 30 7,797 32 Total expenditure 8.924 32 8.956 7,827 Net movement in funds before other recognised gainslllossgs) 357 361 171 Other recognised gainslllo$sesl.' Actuarial losses on defined benefit pension schemes 20 11901 {1901 15861 Net movement In funds 167 171 15931 Re¢onciliation of funds: Total funds brought forward Nel movement in funds 1,926 167 1.910 171 2,503 15931 Total funds carrled lorward 2,093 112) 2.081 1,910 The Consolidated Statement of Financial Activities includes all gains and105ses recogni5ed in the year. The notes on pages 16 to 31 form part of these financial 51atemenls. Page 12
FREEWAYS REGISTERED NUMBER:02209114 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024 2024 £000 2023 £000 Note Fixed assets Tangible assets 10 96 100 96 100 Current assets Debtors Cash al bank and in hand 12 1,086 1.752 973 1,591 2,838 Creditors". amounts falling due within one year 13 1853) {7541 Net current assets 1.985 1,810 Total assets less current Ilabllltles 2,081 1,910 Total net assets 2,081 1,910 Charity funds Reslricled funds 14 {12) 1161 Unrestricted fvnds: Designated fvnds General funds 14 20 22 14 2,073 1,904 Total unrestrlcted funds 14 2.093 1,926 Total funds 2,081 1,910 The Trustees acknowledge their responsibilitses for comptying vthh the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject lo the small companies regime. The an I statements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. Morton Chair of Trustees C C Brltton Trustee Date.. 25 September 2024 The notes on pages 16 10 31 form part of these financial 51atemenls. Page 13
FREEWAYS REGISTERED NUMBER:02209114 COMPANY STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 MARCH 2024 2024 £000 2023 £000 Note Fixed assets Tangible assets 10 96 100 96 100 Current assets Debtors Cash at bank and in hand 12 1,069 1,706 965 1.560 2,775 2,525 Creditors.. amounts falling due th1fi one year 13 1826} (750) Net Cuirent assets 1.949 1.775 Totsl assets less ¢urrent Ilabllltles 2,045 1.875 Totsl net assets 1,875 Charlty funds Restricted funds 14 {12) 1231 Unreslricled funds Designated funds General funds Unrestricted funds 8xcluding peTr$ion asset 14 20 22 1,876 1.898 14 2,037 2,057 14 Total unTeslricled funds 14 2,057 1,898 Total funds 1.875 The Company's net movement in fvnds for the y8arwas £170k12023- £1583kll. The Trustees acknowledge their responsibilities for ¢omplying th the requirements of the Act with respe¢l to accounting records and preparation of financial statements. The an I statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Morton C C Brltton Date.. 25 September 2024 The notes on pages 16 to 31 form part of these financial statements. Page 14
FREEWAYS CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 £000 2023 £000 Cash flows from operatlng activitigs Net cash used in operating aetivilies 188 (2761 Cash Ilows from Investlng actlvFtles Purchase of tangible fixed assets 1271 1681 Net cash used in investlng aetlvltles 1271 {681 Cash Ilows from financing activities Net cash provided by flnancing activltles Changg in cash and cash equivalents in thg ygar Cash and cash equivalents at the beginning of the year 161 {3441 1,935 1,591 Cash and cash equivalents at tho gnd of thg ygar 1,752 1,591 The notes on pages 16 to 31 form part of these financial statements Page 15
FREEWAYS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General infomiation Freeways is a private charitable company limited by guarantee, registered in England & Wales, company registered number 02209114 and registered with the Charity Commission, charity number 298603. Its registered office is Leigh Court Day Cenlre, Pill Road, Bri5101, BS8 3RA. Accountlng pollcies 2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial statements have been prepared in accordance with the Charitses SORP IFRS 1021 Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their acco(Jnls in accordance with the Financial Reporting Standard applicable in the UK. and Republic of Iland IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 and the Companies Act 2006. Freeway5 meets the definition of a public benefit enb'ty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stsled in the relevant accounting policy. The Consolidated Statement of Financial Activities ISOFAI and Consolidated Balance Sheet consolidate the financial statements 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 Activities in these financial s18tements. 2.2 GOING CONCERN Aftei making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue lo aclopl the going concern basis in pParIng the financial statements. 2.3 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 receivable can be measured reliably. Grants are included in the Consolidated Statement of Financial Activities on 8 receivable basis. The balance of income received for specific purposes bul not expended during the period Is shown in the relevant funds on the Balance Sheet. Vvhere income is received in advance of enlitlemenl of receipt, its recognition is deferred and included in creditors as deferred Inwme. Vvhere enbllemenl occurs beft)ie income is received, the income is accrued. 2.4 EXPENDITURE Expenditure is recognised once there is a legal or constructive obligation to transfer economie benefit to a third paty, il 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 activity. The Costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly lo that activity. Shared Costs which contribute lo more than one activity and support costs which are not attrtbutable lo a single acb.vity are apportioned beeen those activities on a basis consislenl with the use of resourtss. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Page 16
FREEWAYS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting polici&s (continugdl 2.4 EXPENDITURE ICONTINUEDI Expenditure on charitable activities is incufred on directly undertaking the activities which further the Group's obieclives. as well as any associated support costs. All expenditure is indusive of irrecoverable VAT. 2.$ GOVERNMENT GRANTS Government grants relating to tangible fixed assets are Irealed as deferred income and released to the Consolidated Statement of Financial Activities over the expected useful lives of the assets con*rned. Other grants are credited to the Consolidated Statement of Financial Activities as the lated expenditure is incurred. 2.6 TANGIBLE FIXED ASSETS AND DEPRECIATION Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition. under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the following bases.. Motor vehicles Fixtures and fittings 10 _ 330k straight line 20 _ 330h slraighl line 2.7 INVESTMENTS Fixed asset investments are a form of financial instrument and are initially recognised * their transaction cost and subsequently measured at fair value al the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured al cost less impainnenl. Investment gains and losses, whether realised or unrealised, are Combined and presented as 'G8insl{Losses} on investments, in the Consolidated Statement of Financial Activities. Investments in subsidiarres are valued at cost less provision for impairment. 2.8 DEBTORS Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts due. 2.9 CASH AT BANK AND IN HAND Cash al bank and in hand includes cash and short-lerm highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similai account. Page 17
FREEWAYS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.10 LIABILfTIES AND PROVISIONS Liabilities are recognised when there is an obligation al the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anlicipales il will pay lo settle the debt or Ihe amount il has received as advanced payment5 for the goods or SeNiS it musl provide. Provisions are measured at the best estimate 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 al the pre-tax discount late that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated Slalement of Financial Acts'vilies as a finance cost. 2.11 FINANCIAL INSTRUMENTS The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instrurnents. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception ol bank loans which are subsequently measured al arnortised cost using the effective Interest method. 2.12 PENSIONS The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group lo the fund in respect of the year. The Group operates a defined benefits pension scherne and the pension charge 15 based on a full actuarial valuation dated 31 March 2023. 2.13 FUND ACCOUNTING General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purpose$. Restricted funds are fvnds which a to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raisin9 and administering such funds are charged against the specific fund. The aim and use of each restricted fvnd is sel out in the notes lo the financial statements. Page 18
FREEWAYS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Ineorne from don•tions and legacies Unrestricted Restricted funds funds 2024 2024 £000 £000 Total funds 2024 £000 Donations Grant5 10 10 36 10 36 Unreslricled funds 2023 £000 Restricted nds 2023 £000 Total funds 2023 £000 Donations Grants Government grants 10 Income from charitable actlvlties Unrestricted funds 2024 £000 Total funds 2024 £000 Residential and community ¢are Hydrotherapy services 8,966 175 175 9.141 9,141 Page 19
FREEWAYS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from charitsble activities Icontlnued) Unrestncted funds 2023 £000 Total fLJnds 2023 £000 Residential and community care Hydrotherapy setvices 7,568 165 7.568 165 7,733 7,733 Income from other trading aetivlties Income from non charitable trading activities Unrestricted funds 2024 £000 Total funds 2024 Commercial hydropool use 68 68 UnTeslricled funds 2023 £000 Total funds 2023 £000 Commercial hydropool use 62 62 Anatysis of expenditure by activities Activities undertaken directty 2024 £000 Support costs 2024 £000 Total funds 2024 £000 Residential and community care Hydrotherapy seiceS 7,206 275 1,411 8,617 311 7,481 1,447 8,928 Page 20
FREEWAYS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure by actlvlties Icontlnuedl Activitses undertaken directly 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 Auditors. remuneration 2024 £000 2023 £000 Fees payable to the Group's auditor for the audit of the Group's annual aecounts 15 15 Fees payable to the Company's auditor in respect of.. All non-audit services not included above Stsff costs Group 2024 £000 Group 2023 £000 Company 2024 £000 Company 2023 £000 Wages and salaries Social security costs Contribution to defined ¢ontribution pension schemes Operating costs of defined knefit pension schemes 6.515 5,695 374 6,515 5,695 374 106 106 84 39 39 7.069 6,192 7.069 6,192 Page 21
FREEWAYS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Staff c05ts Icontlnued) The average number of persons employed by the Company during the year was as follows.. Group 2024 No. Group 2023 Care of residents Administration 254 19 225 25 273 250 The number of employees whose employee benefits lexcluding employer pension costs) exceeded £60,000 was.. Group 2024 No. Group 2023 No. In the band £70,001- £80,000 In the band £80.001 - £90,000 The key management personnel comprise the Chief Executive, the FinanTr Director, the Senior Managers and the HR Manager. The total employee benefits of the key management personnel ol the charity was £362k12023. £339kl Trustees, remuneratlon and expenses During the year, no TDJStees received any remuneration or other beneffts12023 - £NSL}. During the year ended 31 March 2024, expenses totalling £194 were reimbursed or paid directly to 1 Trustee12023 - £NILI. 10. Tangible fixed assets GROUP AND COMPANY Motor Fixtures and vehicles rittings £000 £000 Total £000 COST OR VALUATION At 1 April 2023 Additions 22 840 27 662 27 At 31 March 2024 22 667 689 Page 22
FREEWAYS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Tangible flxed assets (contlnuedl GROUP AND COMPANY ICONTINUED} Motor Fixtures and vehicles fittings £000 £000 Total £000 DEPRECIATION At 1 April 2023 Charge for the year 10 552 27 562 30 At 31 March 2024 13 579 592 NET BOOK VALUE At 31 March 2024 88 97 At 31 March 2023 12 88 100 11. Flxod asset Investments Prlnclpal subsidiaries The following was a subsidiary undertaking of the Company.. Name Company number Registered office OT principal Principal actlvity place of business Leigh Court Services Limited 06434021 Leigh Court Day Cenlre, Pill Road, Abbots Leigh. Bristol, BS8 3RA Trading activities gn behalf of Freeways Holding Included in consolidatlon The financial results of the subsidiary for the year were.. Name Income £000 Expenditurg ProfitllLoss} £000 for the year £000 Net assets £000 Leigh Court Services Limited 68 35 33 35 Page 23
FREEWAYS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Debtors Group 2024 £000 Group 2023 £000 Company 2024 £000 Company 2023 £000 DUE WITHIN ONE YEAR Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 703 637 685 629 43 15 321 43 340 15 321 1,086 973 1,069 965 13. Creditors: Amounts falling due within one year Group 2024 £000 Group 2023 £000 Company 2024 £000 Company 2023 £000 Trade creditors other laxalion and social security Other creditors Accruals and deferred income 241 107 288 217 156 92 240 107 262 156 92 61 fj5 441 217 441 853 754 826 750 Page 24
FREEWAYS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Statement of funds SLitemont of funds - ¢urTgnt ygar Balance at 31 March 2024 £000 Balance at 1 April 2023 £000 Gain {Lossesl £000 Income Expenditure £000 £000 UNRESTRICTED FUNDS General funds Designated fund - Hardship fijnd 1,904 9,280 {8,9211 (1901 2,073 22 (31 1,926 9,281 {8,9241 {1901 2,093 RESTRICTED FUNDS Working and learning opportunities Workforce Development Fund Wellbeing Grant Hydrotherapy Grant Digital Social ca Records Grant 1221 {51 {1} 11} {19) 25 125} 116} 36 132) 112) TOTAL OF FUNDS 1,910 9,317 18.956) 11901 2,081 Page 25
FREEWAYS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Ststemgnt of funds (continued) Statement of funds - prlor year Balance at 31 March 2023 £000 Balance at 1 April 2022 £000 Gainsl (Losses) £000 Income Expenditure £000 £000 UNRESTRICTED FUNDS General fvnds Designated fvnd - Hardship fvnd Designated fund - Pension reserve 2,022 7,814 {7,9321 1,904 22 22 482 104 15861 2,526 7,814 17,8281 15861 1,926 RESTRICTED FUNDS Working and learning opportunities Workforce Development Fund Wellbeing Grant 1291 1221 121 1231 1161 TOTAL OF FUNDS 2,503 7,820 {7,827) 15861 1,910 Page 26
FREEWAYS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Summary of funds Summary of funds - current year Balan¢e al 31 March 2024 £000 Balance at 1 April 2023 £000 Gainsl ILossgsI £000 Income Expendlture £000 £000 General funds Restricted funds 1,926 116) 9.281 36 18,9241 1321 {1901 2,093 112} 1.910 9.317 18.9561 11901 2,081 Summary of funds - prlor year Balance at 31 March 2023 £000 Balance at 1 April 2022 £000 Gainsl ILossesl £000 Income Expenditure £000 £000 General funds Rgslricted funds 2,526 1231 7,814 {7,8281 15861 1,926 {161 2,503 7.820 17,8271 {5851 1,910 16. Analysis of ngt assets tween funds Analysis of net assets between funds - ¢urrenl perlod Unrestrlcted Restrlcted funds funds 2024 2024 £000 £000 Total funds 2024 £000 Tangible fixed assets Current assets CTeditors due within one year 96 2,838 {8531 2,838 18411 1121 TOTAL 2,093 112} 2,081 Page 27
FREEWAYS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 klARCH 2024 16. Analysis of ngt assets between funds {contlnuedl Analysis of net assets between funds - prlor period Unrestricted funds 2023 £000 Reslricled funds 2023 £000 Total funds 2023 £000 Tangible fixed assets Current assets Creditors due within one year 100 2,564 {7381 100 2,564 17541 (161 TOTAL 1,926 1161 1,910 17. Reconciliation of net movement in funds to net cash flow from oporatin9 activltles Group 2024 £000 Group 2023 £000 Net incomelexpenditure for the peiiod {as per Statement of Financial Acliviliesl 361 171 Depreciation Charges Increase in debtors Increase in creditors Income on defined benefit pension scheme 30 21 11141 13791 193 11041 11901 NET CASH PROVIDED BYIIUSED IN} OPERATING ACTIVITIES 188 12761 18. Analysis of cash and cash equivalents Group 2024 £000 1,752 Group 2023 £000 1,591 Cash in hand TOTAL CASH AND CASH EQUIVALENTS 1,752 1,591 Page 28
FREEWAYS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. Anatysis of changes in net debt At 1 April 2023 Cash flows £000 At 31 March 2024 £000 £000 1,591 Cash at bank and in hand 161 1,752 20. Penslon commitments 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 ¢harge represents contributions payable by the group to the fund and amounted lo £106k12023'. £84kl. The scheme is closed to future accrual. A schedule of contributions is agreed heeen the Company and the trustees of the scheme after each comprehensive valuation. The most ent comprehensive actuarial valuation took pla as at 31 March 2021. Under the current schedule of contributions, the Company shall pay contributions of £128k per annum until 31 Dmber 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. Pdncipal actuarial assumptions al the Balance Sheet date (expressed as weighted averages).. At 31 March At 31 March 2024 2023 Discount rale 4.7 Rate of pri¢e inflation (RPII Rate of increase for pensions in deferment Rale of pension increases.. pensions from 6 April 1997 to 31 March 2001 Rate of pension increases.. pensions accrLted from a April 2001 3A At 31 March At 31 March 2024 2023 Years Years Mortality rates lin years) - for a male aged 65 now - al 65 for a male aged 45 now - for a female aged 65 now at 65 for a female aged 45 now 21.3 23.8 21.9 22.8 22.3 24.2 25.4 24.9 Page 29
FREEWAYS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Ponsion commltments {coTrtinued} The Group's share of the assets in the scheme was.. At 31 March Al 31 March 2024 2023 £000 £000 Equities Commodoties Fixed interest Cash Annuities 1.022 3,097 191 1,034 353 37 3,563 337 19 TOTAL FAIR VALUE OF ASSETS 4,941 4,712 The actual return on scheme assets was £261 k {2023- £1255kl}- The amounts recognised in the Consolidated Statement of Finanryal A¢livities a as follows.. 2024 £000 2023 £000 Past service cost Expected return on scheme asse15 Interest on obligation TOTAL AMOUNT RECOGNISED IN THE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES 39 11391 124 12211 159 1621 24 Movements in the present value of the defined benefit obligation were as follows.. 2024 £000 Opening defined benefit obligation Interest cost 3,458 159 Actuarial lossesl{gainsl Benefits paid Past service ¢osts 151 {1601 CLOSING DEFINED BENEFIT OBLIGATION 3,608 Page 30
FREEWAYS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Penslon commitments (continued) Movements in the fair value of the Group's share of scheme assets were a5 follow5.. 2024 £000 Opening fair value of scheme assets Interest income Actuarial gainsl{losses) Contributions by employer Benefits paid CLOSING FAIR VALUE OF SCHEME ASSETS 4,712 221 128 {160) 4.941 The Group has an unrecognised surF4us of £1,333,000 12023.. £1,254.000} in respect ot ils defined benefit pension scheme as il does not expect lo recover the plan surplus either through reduced contribub'ons in the future or through refunds from the plan. 21. Operatlng lease commltments At 31 March 2024 the Group and the Company had commitments to make fubjre minimum lease payments under non4ancellable operating leases as follows.. Group 2024 £000 Group 2023 £000 Company 2024 £000 Company 2023 £000 Not later than 1 year Later than 1 year and not later than 5 years 13 13 33 17 33 17 22. Related party transactions The Trustee$ also PreSent the majority of the Board of Trustees of Freeways Trust, a charitable company that provides residential and day care serviees building facilities for persons with leaming disabilities. Freeways leased the charity's properties and paid £535k12023.' £510kl to Freeways Trust in the year ended 31 March 2024. Freeway$ Trust paid £3k12023'. £Nil} lo Freeways in respe¢t of management charyes and was paid £SSk 12023.. £54kl by Freeways in Spect of management ¢harge$. At the year end Freeways Trust owed FeWaYS £3k {2023.1£3kll. FeWaYS made purchases in the year amounting lo £66k from Apollts IT, a company of which the brother of a member of key management personnel is a director. The purchases lated lo telephony, IT support and consumables. The balance owing to Apollo IT al the year end was £3k. Page 31