**Registered number: 02209114 Charity number: 298603** ## **FREEWAYS** ## **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2025** ## **FREEWAYS** ## **CONTENTS** ||Page| |---|---| |**Reference and Administrative Details of the Company, its Trustees and Advisers**|1| |**Trustees' Report**|2 - 8| |**Trustees' Responsibilities Statement**|9| |**Independent Auditors' Report on the Financial Statements**|10 - 13| |**Consolidated Statement of Financial Activities**|14| |**Consolidated Balance Sheet**|15| |**Company Balance Sheet**|16| |**Consolidated Statement of Cash Flows**|17| |**Notes to the Financial Statements**|18 - 34| ## **FREEWAYS** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025** |**Trustees**|M S Barnett| |---|---| ||C C Britton| ||C A Browne| ||F S Morton| ||D Y Pincott| ||B E Sawyer (resigned 5 June 2025)| |**Company registered**
**number**
02209114
**Charity registered**
**number**
298603
**Registered office**
Leigh Court Day Centre
Pill Road
Abbots Leigh
Bristol
BS8 3RA
**Company secretary**
Rachel Burkinshaw
**Chief executive officer**
Claire Hayward
**Independent auditors**
Bishop Fleming Audit Limited
Chartered Accountants
10 Temple Back
Bristol
BS1 6FL
**Bankers**
Barclays Bank plc
86 Queens Road
Clifton
Bristol
BS8 1RB
National Westminster Bank plc
13 High Street
Westbury-on-Trym
Bristol
BS9 3BF
**Solicitors**
Burges Salmon LLP
One Glass Wharf
Bristol
BS2 0ZX|| Page 1 **FREEWAYS** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025** The Trustees present their annual report together with the audited financial statements of the Company for the 1 April 2024 to 31 March 2025. 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 statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 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. It is with pride that we present this annual report, reflecting on a year of profound impact and significant progress for Freeways. This past year, 2024-25, has been a testament to the unwavering dedication of our entire community – our diligent Trustees, passionate staff, the people we support and the community surrounding us. Together, we have navigated challenges and seized opportunities, all while remaining steadfastly committed to our core mission of supporting adults with a learning disability for the public benefit, guided by our vision of being "A Provider of Choice." The year has been marked by a significant focus on enhancing quality across all our services, a strategic emphasis that has yielded remarkable outcomes. We have seen tangible improvements in service quality ratings, the successful embedding of our bespoke electronic care records system, and the seamless integration of two new services into the Freeways community. The pages that follow will detail these remarkable achievements, the lives touched, and the positive changes we have collectively brought about, demonstrating the tangible difference your support makes in achieving our mission of "Quality, Wellbeing and Evolution." ## **1. Objectives and Activities** The core objective of the charity, as outlined in its Memorandum of Association, is to **support adults with a learning disability for the public benefit** . Freeways achieves this by providing comprehensive support to individuals across various settings, including residential homes, supported living services, day services, community-based programmes, and access to a hydrotherapy pool. Our guiding principle is encapsulated in Freeways' Vision Statement: " **A Provider of Choice** ." This statement defines our overarching intent, while our Mission Statement, " **Quality, Wellbeing and Evolution** ," dictates the methodology and values by which we operate. Underpinning these statements are six core organisational values: - Putting People First - Having Great Staff - Being Active in the Community - Planning for the Future - Making Every Penny Count - Ensuring Effective Governance and Compliance ## **2. Achievements and Performance** ## **2.1 Main achievements of the Charity** The past year has seen a significant **focus on enhancing quality** across all our services. This strategic emphasis began with the recruitment of a new **Quality and Operations Manager** , who has joined the Senior Leadership Team. This individual has been instrumental in reviewing and updating our quality auditing processes, conducting comprehensive visits to all services. Our enhanced quality auditing framework now includes: Page 2 **FREEWAYS** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** - Quality Audits - Lived Experience Audits - Out of Hours Audits - Health and Safety Audits - Infection Control Audits - Food Safety Audits - Finance Audits These audits enable the development of targeted action plans, empowering managers to effectively identify and prioritise improvements. To ensure robust oversight, selected Trustees have actively participated in these audits alongside the Quality and Operations Manager, reporting their findings back to the full Trustee body. We are proud to report a significant achievement in **service quality ratings** . The year commenced with one service holding an 'Inadequate' rating from the Care Quality Commission (CQC). Through the exceptional dedication and resilience of the entire team, combined with outstanding management and leadership, the service underwent re-inspection over a 10-week period. Comprehensive written evidence demonstrating improvements was submitted. As a result, the service achieved a 'Good' rating and aims for an 'Outstanding' rating at its next CQC inspection. Over the past few years, we have diligently developed a bespoke electronic care records system. This year, the embedding of this system has gained significant momentum, as individuals and teams increasingly recognise its benefits. The system has simplified daily activity recording and information management, improving both manager efficiency and overall charity oversight. This simplification has facilitated improved resource allocation, leading to enhanced outcomes for the individuals we support. Recognising that a safe environment is fundamental to the well-being of the individuals we support, we have collaborated with our primary landlord to integrate all statutory check information into the electronic system, ensuring immediate access. These digital location records also enable consistent recording of whole-service activities, such as handovers, team meetings, and various health and safety checks. The system has also proved valuable for sharing information and positive news stories. ## **2.2 Achieving Outcomes and Ensuring Safety** ## **In 2024-25, we continued to achieve remarkable outcomes for the individuals we support across all services.** **Health & Wellbeing:** working to ensure that all individuals we support can access the healthcare they need. - **Significant progress with a dental phobia:** An individual successfully underwent a full dental examination and even a filling - **Improved social and physical well-being:** One individual joined a pool club, fostering new friendships, while another began swimming independently, enhancing their mobility - **Advocacy for accessible healthcare:** An individual with hearing loss, unable to find an NHS dentist with whom he could communicate, was supported through significant advocacy. Following challenges to NHS 111 (who do not offer services for deaf individuals), a dentist agreed to fund a British Sign Language (BSL) interpreter **Community engagement:** working with the individuals we support to encourage greater involvement with their local community to foster a sense of connection and belonging. - **Enhanced community engagement:** Individuals received additional one-to-one funding to participate in chosen activities and become more active members of their communities - **Promoting employment and skill development:** Support was provided for employment, apprenticeships, training, and volunteering opportunities - **Community fundraising initiatives:** Individuals participated in fundraising activities, such as a sponsored walk across the Severn Bridge and a Swimathon Page 3 **FREEWAYS** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** **Advocacy:** making sure that the changing needs and wishes of those we support are met. - **Adaptive care for evolving needs:** Staff training and upskilling enabled us to support individuals with changing needs, including PEG feeding and diabetes management - **Successful transition and independence:** An individual moved from an emergency placement to thriving, learning to use the internet for shopping and self-medicate - **Respecting end-of-life wishes:** Individuals were supported to remain at home during end-of-life care, respecting their personal wishes Financial Wellbeing: working to ensure that no individual we support is struggling with financial hardship. - **Resolution of financial challenges:** An individual was supported to successfully challenge a debt from a Registered Social Landlord (RSL) that had not accounted for their disability, resulting in the debt being cleared - **Successful Universal Credit claim:** Staff supported an individual whose Universal Credit claim was repeatedly started and closed by the Department for Work and Pensions (DWP). A formal complaint led to the DWP admitting errors and back-paying £9,856.50 - **Building trust and addressing complex needs:** An individual with significant trust issues, who had previously refused support from multiple agencies, formed a positive relationship with a support worker through a focus on well-being. This has led to addressing health and safety and debt issues in her flat Further details on social trips and events can be viewed on our Facebook page: https://www.facebook.com/FreewaysCharity/?locale=en_GB. In the past year, Freeways has successfully integrated two new services into the charity – one in Bristol and one in Portishead – both previously managed by Mencap. We collaborated closely with funding authorities to ensure a smooth transition, and both services are now fully embedded within the Freeways community. A notable success story of 2024-25 was the **partnership work** between Freeways (primarily the Positive Behaviour Support team), our main landlord, BNSSG Integrated Care Board (ICB), and NHS England (NHSE). This collaboration led to the creation of a person-centred environment for an individual with complex needs. This project involved extensive planning to identify the optimal environment, source specialist products, arrange construction with minimal impact on the individual, facilitate a temporary move, and provide induction to the new build. This successful partnership has resulted in an 85% reduction of incidents in the first month where the individual uses behaviour to communicate distress. It has also enabled the team to offer additional accommodation to someone leaving college and seeking to return to the area, with a planned move-in during 2025-26. Our Human Resources (HR) team has actively supported our quality improvement theme by recruiting a new Training Lead. This individual has reviewed our competency framework and training offerings. The team has also prioritised stability within teams, successfully maintaining the vacancy rate to minimise reliance on agency staff. Freeways continues to contribute to wider regional initiatives aimed at ensuring quality of care: - Member of the South Gloucestershire Safeguarding Adults Board - Member of the Keeping Bristol Safe Partnership - Member of the Stop Adult Abuse Week Group, involved in arranging events across the Avon and Somerset Police Area, including multi-agency staff conferences ## **2.3 Evolution and Future Plans** As part of Freeways’ commitment to delivering high-quality, sustainable services, a strategic decision was made to close one of its residential homes in Bristol, which had experienced reduced occupancy over several years. Recognising the importance of a thoughtful, person-centred approach, we developed a comprehensive 6-month transition plan, well beyond the 28-day contractual requirement, to support everyone affected. We have worked closely with the landlord, Freeways Trust, throughout the process to ensure the best possible outcome for all involved. This phased approach will enable a well-managed and considered closure by June 2025 while allowing us to focus resources where they are most needed and plan for future development. We are excited by the significant progress on what will become our new flagship site in Horfield, Bristol. This site, Page 4 **FREEWAYS** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** which has been home to up to 8 individuals since 1988, was nearing the end of its operational life. Working in partnership with Bristol City Council commissioning and occupational therapists to ensure optimal design, Freeways Trust successfully secured planning permission. Building work has commenced, and we are regularly receiving updates on the construction of 8 purpose-built flats for the current residents, with capacity to support new individuals. Additionally, two purpose-built Positive Behaviour Support (PBS) accommodations will be created, allowing individuals to remain safely within their community. Collaborating with Freeways Trust in addition to commissioners and officers from North Somerset Council, we have designed a new supported living service in Weston-Super-Mare. The Trust has obtained planning permission, and we anticipate building work commencing in the new financial year. Freeways successfully re-tendered for our community contracts in North Somerset, ensuring continuity of services in the region. We have also agreed an 18-month bridging contract with Bath & North East Somerset (B&NES) Council for the community service to continue. This allows the team to sustain vital support for individuals with learning disabilities and/or sensory loss, helping them maximise income, secure or maintain tenancies, and manage finances to foster independence. As part of this work, the team has introduced drop-in sessions, which have proven even more successful than anticipated, confirming a significant community need. Key plans for 2025-26 include: - The closure of Kenneth House - Relocation into the new Whites Service - An increase in our Positive Behaviour Support (PBS) service offerings - A strategic review of our hydrotherapy and Day Services to ensure they remain aligned with the changing needs of those we support ## **FINANCIAL REVIEW** ## **Going Concern** The Trustees have assessed the charity’s ability to continue as a going concern and are satisfied that there are no material uncertainties which would cast significant doubt on the charity’s ability to continue operating for the foreseeable future. This assessment has considered the charity’s current financial position, projected cash flows, and the principal risks and uncertainties it faces, including those associated with the strategic priorities for 202526. While major capital development plans are being progressed by Freeways Trust, the Trustees recognise the close operational and strategic links between the two organisations. If necessary, reserves may be used to support the successful implementation of key plans for 2025-26, ensuring continuity of service and responsiveness to periods of change. Accordingly, the Trustees consider it appropriate to continue to prepare the financial statements on a going concern basis. Page 5 **FREEWAYS** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## **Reserves Policy** The Trustees have reviewed the reserves policy in line with the guidance set out in the Charities SORP and the Charity Commission. The policy ensures that sufficient free reserves, defined as unrestricted funds not tied up in fixed assets or designated for specific purposes, are held to provide financial stability, support operational continuity, and allow the organisation to respond effectively to emerging risks and strategic priorities. The policy target remains to hold free reserves equivalent to at least two months of operational expenditure. This level is considered appropriate to absorb: - short-term fluctuations in income or commissioning contracts - unexpected cost pressures - shortfalls from staff vacancies - planned investments in new or reconfigured services As at 31 March 2025, the charity held free reserves of £2,196,000 (2024: £1,997,000), in line with this policy. The Trustees intend to maintain or strengthen this position through modest surpluses, while acknowledging that some reserves may be drawn upon to support key strategic initiatives in 2025-26 as highlighted in future plans, including those closely impacted by the developments led by Freeways Trust. In light of fiscal changes due in April 2025, including the planned increase to employer National Insurance contributions (NICs) and the reduction in the NIC threshold, the Trustees are also mindful of increases in staffing costs. These changes could place additional pressure on operational budgets and are factored into forward financial planning and reserves considerations. ## **Risk Management** The Trustees are responsible for ensuring that the charity identifies, evaluates, and manages the major risks to which it is exposed. The charity operates a formal risk management framework, which includes regular reviews of a risk register and oversight by the Board. ## Key current risks include: - Uncertainty in funding and commissioning environments - Challenges in staff recruitment and retention - Inflationary pressures on operating costs - Rising employment costs, particularly linked to the planned increase in employer NICs and changes to NIC thresholds from April 2025 - Operational and transitional risks linked to planned service changes - Cybersecurity and data protection risks The upcoming changes to NICs represent a material financial risk, given the charity’s workforce profile. The Executive are closely monitoring government announcements and modelling the impact on staffing budgets as part of ongoing financial planning. The charity’s reserves, financial oversight, and planned financial modelling form key components of its overall risk mitigation approach; and help ensure resilience and flexibility in response to the evolving developments of Freeways Trust. The risk management framework is embedded throughout the organisation and reviewed regularly to ensure it remains responsive to both external developments and internal priorities. As we conclude this report, we do so with appreciation for everyone who has contributed to Freeways' success over the past year. The achievements outlined within these pages – from securing a 'Good' CQC rating for a previously 'Inadequate' service, to the advancements in our electronic care records, and the successful integration of new services – are a direct result of the collaborative spirit and shared vision that defines our charity. Our commitment to "Putting People First," "Having Great Staff," and "Making Every Penny Count" has truly shone through. Page 6 ## **FREEWAYS** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** Looking ahead, we are more energised than ever to build upon this momentum, with exciting plans for our new flagship site in Horfield, the development of a new supported living service in Weston-Super-Mare, and the continued evolution of our services. We are excited as we move into 2025-26, and although we are aware of challenges we are confident that Freeways will go from strength to strength, creating a lasting positive legacy for the individuals we support and the wider community. ## 3. Other ## 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 capital. In the event of the company being wound up every member undertakes to contribute to the assets of the company up to an amount not exceeding £1. ## Methods of Appointment or Election of Trustees The Trustees have delegated day to day management of the charity to 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 to 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 to 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 Management Team. ## Related Party Relationships A separate charity, Freeways Trust (Charity no.1102216), has many common Trustees but is not under common control although both organisations have similar charitable objects. Freeways currently leases most of its properties from Freeways Trust, as reflected in the accounts. None of the Trustees receives remuneration or other benefit for their work with the charity. Any connection between a Trustee and a related party or other organisation with which the charity co-operates must be disclosed in the same way as any other contractual relationship with a related party. 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. ## Public Benefit The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit, ‘Charities and Public Benefit’. ## Engagement with Employees and Employment of the Disabled Employees have been consulted on issues of concern to them by means of regular consultative committee and staff meetings and have been kept informed on specific matters directly by management. The Group and the Company carry out exit 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 to all aspects of personnel matters including: - Equal opportunities policy - Volunteers' policy - Health and safety policy Page 7 ## **FREEWAYS** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** In accordance with the Group and the Company's equal opportunities policy, the Group and the Company have long-established fair employment practices in the recruitment, selection, retention and training of disabled staff. Full details of these policies are available from the Company's offices. ## **Disclosure of Information to Auditors** Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that: - so far as that Trustee is aware, there is no relevant audit information of which the charitable group's auditors are unaware, and - that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information. ## **Auditors** The auditors, Bishop Fleming LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees. Approved by order of the members of the board of Trustees and signed on their behalf by: **F S Morton** Chair of Trustees **C C Britton** Trustee 8 October 2025 Page 8 ## **FREEWAYS** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025** The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and 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 statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgements and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 9 ## **FREEWAYS** ## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FREEWAYS** ## **Opinion** We have audited the financial statements of Freeways (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows and the related 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 Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2025 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the 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 to 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 responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 to determine whether this gives rise to a material 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 are required to report that fact. We have nothing to report in this regard. Page 10 ## **FREEWAYS** ## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FREEWAYS (CONTINUED)** ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters where the Charities (Accounts 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 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 information and explanations we require for our audit. ## **Responsibilities of trustees** As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditors' responsibilities for the audit of the financial 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 thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of 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 to their own identification and assessment of the risk or irregularities within the entity; - We have reviewed the documentation of key processes and controls and performed walkthroughs of transactions to confirm that the systems are operating in line with documentation. Page 11 ## **FREEWAYS** ## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FREEWAYS (CONTINUED)** As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation 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 to respond to 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 determination 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 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 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 direct effect on the financial statements; - Performing analytical procedures to identify unusual or unexpected relationships that may indicate risk of material mistatement due to fraud; - Reviewing board meeting minutes; - Enquiring of management in relation to actual and potential claims or litigations; - Performing detailed transactional testing in relation to the recognition of revenue with a particular focus around year-end cut 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 indicative of potential bias; and evaluating the business rationale of significant transactions that are unusual or outside the normal course of business. We also communicated identified laws and regulations and potential fraud risks to all members of the engagement team and remained alert to possible indicators of fraud or non-compliance 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 mistatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occuring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. Page 12 ## **FREEWAYS** ## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FREEWAYS (CONTINUED)** ## **Use 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) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. **David Butler FCA, DChA Bishop Fleming Audit Limited** Chartered Accountants Statutory Auditors 10 Temple Back Bristol BS1 6FL 17 October 2025 Bishop Fleming Audit Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. Page 13 ## **FREEWAYS** ## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025** |**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**Net movement in funds before other**
**recognised gains/(losses)**
**Other recognised gains/(losses):**
Actuarial losses on defined benefit
pension schemes
20
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£000**
**101**
**9,637**
**173**
**109**
**10,020**
**54**
**9,742**
**9,796**
**224**
**(74)**
**150**
**2,093**
**150**
**2,243**|**Restricted**
**funds**
**2025**
**£000**
**51**
**-**
**-**
**-**
**51**
**-**
**-**
**-**
**51**
**-**
**51**
**(12)**
**51**
**39**|**Total**
**funds**
**2025**
**£000**
**152**
**9,637**
**173**
**109**
**10,071**
**54**
**9,742**
**9,796**
**275**
**(74)**
**201**
**2,081**
**201**
**2,282**|Total
funds
2024
£000
46
9,141
68
62
9,317
28
8,928
8,956
361
(190)
171
1,910
171
2,081| |---|---|---|---|---| The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 18 to 34 form part of these financial statements. Page 14 **FREEWAYS REGISTERED NUMBER:02209114 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025** |**Note**
**Fixed assets**
Tangible assets
10
**Current assets**
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
14
Unrestricted funds
General funds
14
Designated funds
14
Total unrestricted funds
14
**Total funds**|**1,629**
**1,367**
**2,996**
**(793)**
**2,131**
**112**|**2025**
**£000**
**79**
**79**
**2,203**
**2,282**
**39**
**2,243**
**2,282**|1,086
1,752
2,838
(853)
2,073
20|2024
£000
96
96
1,985
2,081
(12)
2,093
2,081| |---|---|---|---|---| The Trustees acknowledge their responsibilities for complying with 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 to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: **F S Morton C C Britton** Chair of Trustees Trustee Date:8 October 2025 The notes on pages 18 to 34 form part of these financial statements. Page 15 **FREEWAYS REGISTERED NUMBER:02209114** ## **COMPANY STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 MARCH 2025** |**Note**
**Fixed assets**
Tangible assets
10
**Current assets**
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
14
Unrestricted funds
Designated funds
14
General funds
14
Total unrestricted funds
14
**Total funds**|**1,605**
**1,334**
**2,939**
**(783)**
**112**
**2,084**|**2025**
**£000**
**79**
**79**
**2,156**
**2,235**
**39**
**2,196**
**2,235**|1,069
1,706
2,775
(826)
20
2,037|2024
£000
96
96
1,949
2,045
(12)
2,057
2,045| |---|---|---|---|---| The Company's net movement in funds for the year was £190k (2024 - £170k). The Trustees acknowledge their responsibilities for complying with 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 to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: **F S Morton** Chair of Trustees Date: 8 October 25 **C C Britton** Trustee The notes on pages 18 to 34 form part of these financial statements. Page 16 ## **FREEWAYS** ## **CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025** |**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Cash flows from financing activities**
**Net cash provided by financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
The notes on pages 18 to 34 form part of these financial statements|**2025**
**£000**
**(372)**
**(14)**
**(14)**
**-**
**(386)**
**1,752**
**1,366**|2024
£000
188
(27)
**(27)**
**-**
**161**
1,591
1,752| |---|---|---| Page 17 **FREEWAYS** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **1. GENERAL INFORMATION** 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 Centre, Pill Road, Bristol, BS8 3RA. ## **2. ACCOUNTING POLICIES** ## **2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Freeways meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Company and its 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 statements. ## **2.2 GOING CONCERN** 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 concern basis in preparing the financial statements. ## **2.3 INCOME** All income is recognised once the Company has entitlement to 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 a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. ## **2.4 EXPENDITURE** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it 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 to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Page 18 **FREEWAYS** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **2. ACCOUNTING POLICIES (continued)** ## **2.4 EXPENDITURE (CONTINUED)** Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. ## **2.5 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 to 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 - 10 - 33% straight line - Fixtures and fittings 20 - 33% straight line ## **2.6 INVESTMENTS** Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated Statement of Financial Activities. Investments in subsidiaries are valued at cost less provision for impairment. ## **2.7 DEBTORS** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **2.8 CASH AT BANK AND IN HAND** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 19 **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **FREEWAYS** ## **2. ACCOUNTING POLICIES (continued)** ## **2.9 LIABILITIES AND PROVISIONS** Liabilities are recognised when there is an obligation at 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 anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a finance cost. ## **2.10 FINANCIAL INSTRUMENTS** The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **2.11 PENSIONS** The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year. The Group operates a defined benefits pension scheme and the pension charge is based on a full actuarial valuation dated 31 March 2023. ## **2.12 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 purposes. Restricted funds are funds which are 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 raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page 20 ## **FREEWAYS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **3. INCOME FROM DONATIONS AND LEGACIES** |**Unrestricted**
**funds**
**2025**
**Restricted**
**funds**
**2025**
**£000**
**£000**
Donations
101
51
Unrestricted
funds
2024
Restricted
funds
2024
£000
£000
Donations
10
-
Grants
-
36
10
36
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
**Unrestricted**
**funds**
**2025**
**£000**
Residential and community care
9,520
Hydrotherapy services
117
9,637|**Total**
**funds**
**2025**
**£000**
**152**| |---|---| ||Total
funds
2024
£000
10
36| ||46| ||**Total**
**funds**
**2025**
**£000**
**9,520**
**117**| ||**9,637**| Page 21 ## **FREEWAYS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **4. INCOME FROM CHARITABLE ACTIVITIES (CONTINUED)** |Residential and community care
Hydrotherapy services|Unrestricted
funds
2024
£000
8,966
175
9,141|Total
funds
2024
£000
8,966
175| |---|---|---| |||9,141| ## **5. INCOME FROM OTHER TRADING ACTIVITIES Income from non charitable trading activities** |**Unrestricted**
**funds**
**2025**
**£000**
Sales
96
Commercial hydropool use
77
173
Unrestricted
funds
2024
£000
Commercial hydropool use
68|**Total**
**funds**
**2025**
**£000**
**96**
**77**| |---|---| ||**173**| ||Total
funds
2024
£000
68| ## **6. ANALYSIS OF EXPENDITURE BY ACTIVITIES** |Residential and community care
Hydrotherapy services|**Activities**
**undertaken**
**directly**
**2025**
**£000**
7,931
188
8,119|**Support**
**costs**
**2025**
**£000**
1,583
40
1,623|**Total**
**funds**
**2025**
**£000**
**9,514**
**228**| |---|---|---|---| ||||**9,742**| Page 22 ## **FREEWAYS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **6. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)** |Activities
undertaken
directly
2024
£000
Residential and community care
7,334
Hydrotherapy services
275
7,609
**7.**
**AUDITORS' REMUNERATION**
Fees payable to the Group's auditor for the audit of the Group's annual
accounts
Fees payable to the Company's auditor in respect of:
All non-audit services not included above
**8.**
**STAFF COSTS**|Support
costs
2024
£000
1,283
36
1,319
**2025**
**£000**
**15**
**4**|Total
funds
2024
£000
8,617
311| |---|---|---| |||8,928| |||2024
£000
15| |||3| |||| |Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes|**Group**
**2025**
**£000**
**7,195**
**535**
**113**
**7,843**|Group
2024
£000
6,515
448
106
7,069|**Company**
**2025**
**£000**
**7,195**
**535**
**113**
**7,843**|Company
2024
£000
6,515
448
106| |---|---|---|---|---| |||||7,069| Page 23 ## **FREEWAYS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **8. STAFF COSTS (CONTINUED)** The average number of persons employed by the Company during the year was as follows: |Care of residents
Administration|**Group**
**2025**
**No.**
**267**
**16**
**283**|Group
2024
No.
254
19| |---|---|---| |||| |||273| The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: |||**Group**|Group| |---|---|---|---| |||**2025**|2024| |||**No.**|No.| |In the band £80,001|- £90,000|**1**|1| 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 £364k (2024: £362k). ## **9. TRUSTEES' REMUNERATION AND EXPENSES** During the year, no Trustees received any remuneration or other benefits (2024 - £NIL). During the year ended 31 March 2025, expenses totalling £284 were reimbursed or paid directly to 1 Trustee (2024 - £194 to 1 Trustee). ## **10. TANGIBLE FIXED ASSETS** ## **GROUP AND COMPANY** |**COST OR VALUATION**
At 1 April 2024
Additions
At 31 March 2025|**Motor**
**vehicles**
**£000**
**22**
**-**
**22**|**Fixtures and**
**fittings**
**£000**
**667**
**14**
**681**|**Total**
**£000**
**689**
**14**| |---|---|---|---| ||||**703**| Page 24 ## **FREEWAYS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **10. TANGIBLE FIXED ASSETS (CONTINUED) GROUP AND COMPANY (CONTINUED)** |**DEPRECIATION**
At 1 April 2024
Charge for the year
At 31 March 2025
**NET BOOK VALUE**
At 31 March 2025
At 31 March 2024|**Motor**
**vehicles**
**£000**
**13**
**4**
**17**
**5**
9|**Fixtures and**
**fittings**
**£000**
**580**
**27**
**607**
**74**
87|**Total**
**£000**
**593**
**31**| |---|---|---|---| ||||**624**| ||||| ||||**79**| ||||96| Page 25 ## **FREEWAYS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **11. FIXED ASSET INVESTMENTS** ## **PRINCIPAL SUBSIDIARIES** The following was a subsidiary undertaking of the Company: **Name Company Registered office or principal Principal activity number place of business** Leigh Court Services Limited 06434021 Leigh Court Day Centre, Pill Trading activities on Road, Abbots Leigh, Bristol, behalf of Freeways BS8 3RA **Holding Included in consolidation** 100% Yes The financial results of the subsidiary for the year were: |**Name**
**Income**
**£000**
**Expenditure**
**£000**
**Profit/(Loss)**
**for the year**
**£000**
Leigh Court Services Limited
**96**
**52**
**44**
**12.**
**DEBTORS**
**Group**
Group
**Company**
**2025**
2024
**2025**
**£000**
£000
**£000**
**DUE WITHIN ONE YEAR**
Trade debtors
**1,249**
703
**1,225**
Amounts owed by group undertakings
**-**
-
**-**
Other debtors
**24**
43
**24**
Prepayments and accrued income
**356**
340
**356**
**1,629**
1,086
**1,605**|**Net assets**
**£000**
**47**
Company
2024
£000
685
1
43
340| |---|---| ||| ||1,069| Page 26 ## **FREEWAYS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**Group**
**2025**
**£000**
**164**
**253**
**105**
**271**
**793**|Group
2024
£000
241
107
288
217
853|**Company**
**2025**
**£000**
**154**
**253**
**105**
**271**
**783**|Company
2024
£000
240
107
262
217| |---|---|---|---|---| |||||| |||||826| ## **14. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR** |**UNRESTRICTED FUNDS**
General funds
Designated fund - Hardship
fund
Designated fund - Legacy
donation
**RESTRICTED FUNDS**
Working and learning
opportunities
Workforce Development Fund
Wellbeing Grant
Hydrotherapy Grant
**TOTAL OF FUNDS**|**Balance at 1**
**April 2024**
**£000**
**2,073**
**20**
**-**
**2,093**
**6**
**(19)**
**1**
**-**
**(12)**
**2,081**|**Income**
**£000**
**9,928**
**-**
**92**
**10,020**
**-**
**-**
**-**
**51**
**51**
**10,071**|**Expenditure**
**£000**
**(9,796)**
**-**
**-**
**(9,796)**
**-**
**-**
**-**
**-**
**-**
**(9,796)**|**Gains/**
**(Losses)**
**£000**
**(74)**
**-**
**-**
**(74)**
**-**
**-**
**-**
**-**
**-**
**(74)**|**Balance at**
**31 March**
**2025**
**£000**
**2,131**
**20**
**92**| |---|---|---|---|---|---| ||||||**2,243**| ||||||**6**
**(19)**
**1**
**51**| ||||||**39**| ||||||**2,282**| Page 27 **FREEWAYS** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **14. STATEMENT OF FUNDS (CONTINUED)** ## **Designated Fund** **Hardship Fund -** The Trustees have set up a hardship fund for service users of Freeways who have found themselves in financial need that cannot be met from other sources. There is a formal application process to access the fund. **Legacy Donation -** At the end of the year, the charity received a legacy donation of £91,505 for which the Trustees are most grateful. Following a review, the Trustees have decided to designate the legacy, which will be held separately from unrestricted general reserves whilst consideration is given to how best to use the funds in line with the charity’s objectives. ## **Restricted Fund** **Working & Learning Opportunities -** Grant from the Learning Disability Development Fund to support people with learning disabilities within Freeways into paid employment. **Workforce Development Fund -** Funding from the Department of Health and Social Care, which is disbursed by Skills for Care. It supports the cost of qualifications and learning programmes together with the cost of acquiring these qualification, including those not yet completed and reimbursed. When the current qualifications are completed, the level of reimbursement has been assessed to be sufficient to eliminate the current deficit. **Wellbeing Grant -** Funding received to support health and wellbeing initiatives for staff. **Hydrotherapy Fund -** During the year, the charity received a restricted donation of £50k, specifically given for the ongoing provision of the Hydrotherapy Pool. The donor has restricted the use of these funds to support the continuation of this service, and the charity is committed to ensuring that these funds are used solely for the intended purpose. **Bristol Airport Blue Diamond Fund Grant -** The charity received grant funding of £1k to fund the provision of a physio-led fall prevention exercise class. Page 28 ## **FREEWAYS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **14. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS - PRIOR YEAR** |**UNRESTRICTED FUNDS**
Designated Funds - all funds
Hardship fund
**RESTRICTED FUNDS**
Working and learning
opportunities
Workforce Development Fund
Wellbeing Grant
Hydrotherapy Grant
Digital Social Care Records
Grant
**TOTAL OF FUNDS**|Balance at
1 April 2023
£000
1,904
22
1,926
6
(22)
-
-
-
(16)
1,910|Income
£000
9,280
1
9,281
-
8
2
1
25
36
9,317|Expenditure
£000
(8,921)
(3)
(8,924)
-
(5)
(1)
(1)
(25)
(32)
(8,956)|Gains/
(Losses)
£000
(190)
-
(190)
-
-
-
-
-
-
(190)|Balance at
31 March
2024
£000
2,073
20
2,093
6
(19)
1
-
-
(12)
2,081| |---|---|---|---|---|---| Page 29 ## **FREEWAYS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **15. SUMMARY OF FUNDS** ## **SUMMARY OF FUNDS - CURRENT YEAR** ||||||**Balance at**| |---|---|---|---|---|---| ||**Balance at 1**|||**Gains/**|**31 March**| ||**April 2024**|**Income**|**Expenditure**|**(Losses)**|**2025**| ||**£000**|**£000**|**£000**|**£000**|**£000**| |General funds|**2,093**|**10,020**|**(9,796)**|**(74)**|**2,243**| |Restricted funds|**(12)**|**51**|**-**|**-**|**39**| ||**2,081**|**10,071**|**(9,796)**|**(74)**|**2,282**| |**SUMMARY OF FUNDS - PRIOR YEAR**|||||| ||||||Balance at| ||Balance at|||Gains/|31 March| ||1 April 2023|Income|Expenditure|(Losses)|2024| ||£000|£000|£000|£000|£000| |Designated funds|1,926|9,281|(8,924)|(190)|2,093| |Restricted funds|(16)|36|(32)|-|(12)| ||1,910|9,317|(8,956)|(190)|2,081| ## **16. ANALYSIS OF NET ASSETS BETWEEN FUNDS** ## **ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR** |**Unrestricted**
**funds**
**2025**
**£000**
Tangible fixed assets
79
Current assets
2,957
Creditors due within one year
(793)
**TOTAL**
2,243|**Restricted**
**funds**
**2025**
**£000**
-
39
-
39|**Total**
**funds**
**2025**
**£000**
**79**
**2,996**
**(793)**
**2,282**| |---|---|---| Page 30 ## **FREEWAYS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** |**16.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED)**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR**
Unrestricted
funds
2024
£000
Tangible fixed assets
96
Current assets
2,838
Creditors due within one year
(841)
**TOTAL**
2,093
**17.**
**RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW**
**ACTIVITIES**
Net income for the year (as per Statement of Financial Activities)
Depreciation charges
Increase in debtors
Increase/(decrease) in creditors
Income on defined benefit pension scheme
**NET CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES**
**18.**
**ANALYSIS OF CASH AND CASH EQUIVALENTS**
Cash in hand
**TOTAL CASH AND CASH EQUIVALENTS**|Restricted
funds
2024
Total
funds
2024
£000
£000
-
96
-
2,838
(12)
(853)
(12)
2,081
**FROM OPERATING**
**Group**
Group
**2025**
2024
**£000**
£000
**275**
361
**33**
30
**(544)**
(114)
**(12)**
101
**(41)**
(190)
**(289)**
188
**Group**
Group
**2025**
2024
**£000**
£000
**1,366**
1,752
**1,366**
1,752| |---|---| Page 31 ## **FREEWAYS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **19. ANALYSIS OF CHANGES IN NET DEBT** ||**At**|**1 April**||**At 31 March**| |---|---|---|---|---| |||**2024**|**Cash flows**|**2025**| |||**£000**|**£000**|**£000**| |Cash at bank and in hand||**1,752**|**(385)**|**1,367**| ## **20. PENSION 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 charge represents contributions payable by the group to the fund and amounted to £115k (2024: £106k). The scheme is closed to future accrual. A schedule of contributions is agreed between the Company and the trustees of the scheme after each comprehensive valuation. The most recent comprehensive actuarial valuation took place as at 31 March 2023. Under the current schedule of contributions, the Company shall pay contributions of £128k per annum until 31 December 2026. The Company shall also pay the expenses of administering the scheme. Independent consulting actuaries, Quantum Advisory, update the actuarial valuations at each balance sheet date. Principal actuarial assumptions at the Balance Sheet date (expressed as weighted averages): ||**At 31 March**|At 31 March| |---|---|---| ||**2025**|2024| ||**%**|%| |Discount rate|**5.6**|4.7| |Rate of price inflation (RPI)|**3.5**|3.6| |Rate of increase for pensions in deferment|**3.0**|3.0| |Rate of pension increases: pensions from 6 April 1997 to 31 March 2001|**3.0**|3.8| |Rate of pension increases: pensions accrued from a April 2001|**3.4**|3.5| ||**At 31 March**|At 31 March| |---|---|---| ||**2025**|2024| ||**Years**|Years| |MORTALITY RATES (IN YEARS)||| |- for a male aged 65 now|**21.3**|21.3| |- at 65 for a male aged 45 now|**23.8**|23.8| |- for a female aged 65 now|**22.3**|22.3| |- at 65 for a female aged 45 now|**24.9**|24.9| Page 32 ## **FREEWAYS** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **20. PENSION COMMITMENTS (CONTINUED)** The Group's share of the assets in the scheme was: |Equities
Fixed interest
Cash
Annuities
**TOTAL FAIR VALUE OF ASSETS**|**At 31 March**
**2025**
**£000**
**1,229**
**3,206**
**260**
**17**
**4,712**|At 31 March
2024
£000
1,022
3,563
337
19| |---|---|---| |||| |||4,941| The actual return on scheme assets was £(116k) (2024 - £261k). The amounts recognised in the Consolidated Statement of Financial Activities are as follows: |Interest income
Interest cost
**TOTAL AMOUNT RECOGNISED IN THE CONSOLIDATED STATEMENT**
**OF FINANCIAL ACTIVITIES**|**2025**
**£000**
**(346)**
**230**
**(116)**|2024
£000
(221)
159| |---|---|---| |||| |||(62)| Movements in the present value of the defined benefit obligation were as follows: |Opening defined benefit obligation
Interest cost
Actuarial (gains)/losses
Benefits paid
**CLOSING DEFINED BENEFIT OBLIGATION**
Movements in the fair value of the Group's share of scheme assets were as follows:
Opening fair value of scheme assets
Expected return on assets
Actuarial losses
Contributions by employer
Effects of non-routine settlements
**CLOSING FAIR VALUE OF SCHEME ASSETS**|**2025**
**£000**
**3,608**
**167**
**(403)**
**(124)**| |---|---| ||| ||**3,248**| ||**2025**
**£000**
**4,941**
**230**
**(477)**
**11**
**(124)**| ||| ||**4,581**| Page 33 **FREEWAYS** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **20. PENSION COMMITMENTS (CONTINUED)** The Group has an unrecognised surplus of £1,464,000 (2024 - £1,333,000) in respect of its defined benefit pension scheme as it does not expect to recover the plan surplus either through reduced contributions in the future or through refunds from the plan. ## **21. OPERATING LEASE COMMITMENTS** At 31 March 2025 the Group and the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows: |Not later than 1 year
Later than 1 year and not later than 5 years|**Group**
**2025**
**£000**
**15**
**15**
**30**|Group
2024
£000
9
24
33|**Company**
**2025**
**£000**
**15**
**15**
**30**|Company
2024
£000
9
24| |---|---|---|---|---| |||||| |||||33| ## **22. RELATED PARTY TRANSACTIONS** The Trustees also represent the majority of the Board of Trustees of Freeways Trust, a charitable company that provides residential and day care services building facilities for persons with learning disabilities. Freeways leased the charity's properties and paid £556k (2024: £535k) to Freeways Trust in the year ended 31 March 2025. Freeways Trust paid £17k (2024: £3) to Freeways in respect of management charges and was paid £52k (2024: £55k) by Freeways in respect of management charges. At the year end Freeways Trust was owed £39k by Freeways (2024: owed £3k). Freeways made purchases in the year amounting to £82k from Apollo IT, a company of which the brother of a member of key management personnel is a director. The purchases related to telephony, IT support and consumables. The balance owing to Apollo IT at the year end was £3k. Page 34