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2025-03-31-accounts

THE CALDECOTT FOUNDATION LIMITED

CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025

Registered Charity No: 307889 Registered Company No: 00419256 (England and Wales)

THE CALDECOTT FOUNDATION LIMITED

CONTENTS

CONTENTS

CONTENTS
Page No
Legal and Administrative Details 1
Chair of Trustees' Report 2 - 3
Trustees' Report 4 - 11
Independent Auditors' Report 12 - 15
Statement of Financial Activities 16 - 17
Balance Sheet 18 - 19
Cashflow Statement 20
Notes to the Accounts 21 - 38

THE CALDECOTT FOUNDATION LIMITED

LEGAL AND ADMINISTRATIVE DETAILS

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Trustees Charles Lister (Chairman)
Susan Appleby
Jerome Flechais
Richard Ford
Andrew Ireland (appointed 2 May 2024)
Folasade Phillips (Treasurer)
Maree Thorn
Simon Wakeman
Caroline Whillans
Secretary Steve Anderson
Key Management Personnel Nicholas Barnett
Stacey McShane
Steve Anderson
Damion Napier
Tim Allison
Kevin Gore
Charity Number 307889
Company Number 00419256
Registered office Caldecott House
Hythe Road
Smeeth
Ashford
Kent TN25 6SP
Independent Auditors Azets Audit Services
First Floor, River House
1 Maidstone Road
Sidcup
DA14 5RH
Bankers Barclays Bank Plc
66 High Street
Ashford
Kent TN24 8TL
National Westminster Bank Plc
PO Box No. 4NU
London
W1A 4NU
Solicitors Furley Page LLP
39 St Margaret's Street
Canterbury
Kent. CT1 2TX
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THE CALDECOTT FOUNDATION LIMITED

CHAIR OF TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

I’m pleased to report that, despite the extremely challenging political and economic landscape, Caldecott has had another very good year. The main body of the Trustees’ report contains details on our achievements but, in my message as Chair of Trustees, I would like to recognise the many talented, dedicated and generous individuals without whom this simply would not have been possible.

During the year 152 individuals, community groups, businesses and Charitable Trusts & Foundations supported us in our efforts to improve our facilities or provide greater opportunities to our children and young people. This included generous grants including, an incredible £50,000 from the Swire Charitable Trust, to redevelop our Primary School kitchen and lunch hall, as well as £4,295 from the Screwfix Foundation for a new Sensory Room at one of our children’s homes. Our new ‘Harry Potter’ themed Library in our Primary School was also supported by B&Q and we received community donations from F&H Morrison Trust and Asda.

At Christmas we were overwhelmed by the support we received from local businesses including KMFM, the Bluewater Giving Tree, Mitie, Sorella Aesthetics, The Little Teapot, Danielle and Perry, the Blackhorse Pub, and Storage Kings. This really did make Christmas extra special for our children, families and teams.

In-kind support has also been incredible this year: Circus Starr and Ashford United FC provided tickets for the children, Rockits Sensory offered free admission for a group from our School, and Kids in Mind donated boxes of brand-new toys.

Volunteering has been strong too, with teams from Premier Foods, Swiss Re, and BNI Ashford giving their time to improve outdoor spaces and refresh communal areas. We would like to thank the many members of BNI Ashford for their practical help with so many projects throughout the year.

Those supporting our fundraising events have also made a real impact this year. Our first charity Golf Day raised over £4,000 thanks to hole sponsors and players. Our 2024 Christmas Craft Fayre brought in over £1,000 with 22 stallholders and more than 200 visitors from our local community.

Of course, without the commitment, dedication and expertise of the wonderful group of people who work at Caldecott, we wouldn’t be able to support our children to achieve life changing outcomes. I would like to thank every single member of our team who go above and beyond to ensure that our children get the very best care and education and, crucially, feel cared for and loved.

I’m pleased to say that the impact of all of this hard work has once again been recognised by Ofsted with two more ‘Outstanding’ ratings within the year making thirty in total since 2017. However, what matters most to us is the views of our children, and this quote from an Ofsted report highlights just two:

“One of the children said that he would score the home ‘9.5 out of 10’ because he is happy and safe. The other child told their independent reviewing officer that they would like to be ‘glued to the wall’ so the child could stay in the home forever”. Ofsted Inspection Report, March 2025

THE CALDECOTT FOUNDATION LIMITED

CHAIR OF TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

I will be stepping down as both Chair of the Board and as a Trustee in October 2025, after eight deeply rewarding years in office. Over that time, Caldecott has gone from strength to strength, and it has been a tremendous honour to be part of this incredible organisation.

It is often said that an organisation’s greatest asset is its people — and nowhere is that truer than at Caldecott. I have been continually inspired by the dedication of my fellow Trustees, the Executive team, and the entire staff. I am especially grateful for the close and constructive working relationship I’ve shared with the CEO. But what will stay with me most is the extraordinary resilience of the children we support — a lasting source of inspiration that I will carry with me always.

As I write, I’m delighted to share that a new Chair of Trustees has accepted the position and will formally take over at the Board meeting in October 2025. I have no doubt that, alongside the CEO and his team, she will drive forward positive change and improve the lives, and life chances, of hundreds of children. That, after all, is what Caldecott does best.

…………………………… Mr Charles Lister, Chairman Date: 22 August 2025

THE CALDECOTT FOUNDATION LIMITED

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present herewith their report and the financial statements for the year ended 31 March 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 published in October 2019.

Public benefit statement

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Foundation’s aims and objectives and in planning future activities.

Achievements and Performance During the Year

At Caldecott School we have continued to support pupils to achieve regardless of their experience of education prior to joining us. We are incredibly proud of what our Year 11s achieved and the huge progress they have made whilst being part of our school. Of all qualifications entered in the academic year 2023/24, 86.5% achieved a passing grade with a 100% pass rate in the English exams.

Of these 7 Year 11 pupils, 5 were in receipt of confirmed post-16 education placements at the time they left school. Unfortunately, at that time, 2 pupils experienced substantial instability at home which meant that were not able to get agreement for their next education placement. Although this is not typical for our pupils, it highlights the complexity of some of our children’s lives and how factors out of their, and our, control can impact their education.

For those children leaving our residential care within the year, 100% had positive and planned moves onto the next stage of their journey. This included 1 move to a foster placement, 2 returning home, 1 moving closer to home and 3 moving into supported accommodation.

The Social Worker of the young man who went to foster care commented, "Many thanks for your efforts in the planning of his transition to fostering, and for all your efforts in supporting him over the years he's been with you. We acknowledge the positive impact that he has had while placed with you, and we appreciate you and your team for it".

This young man has remained in regular contact with us and we know that he later made a successful return to live at home with mum who said, "Thank you all for looking after my son for 5 years and helping him develop into the quickly growing young man that he is! For helping him try new foods and expand his palate, helping him be more independent with his self-care, for helping him identify and cope with his emotions both big and small, and so much more. I really appreciate everything you and the team have done for him over the years, and as his mum, I couldn't have asked for anything better. Thank you so, so much."

We continue to work alongside an incredible group of foster carers who provide our children with an exceptional level of care. However, this year we are particularly proud of one of our ‘parent and child’ foster carers who, not only delivered a baby in their own home, but performed lifesaving CPR until the ambulance arrived. Thanks to their incredible response, mum and baby are both happy, healthy and doing well.

Whether accessing our residential care, education or fostering services, 100% of our children have continued to benefit from our model of care which is underpinned by a therapeutic approach. Our model ensures that the support our children are receiving is informed by therapeutic thinking which is tailored to each individual child. This is supported by a group of professionals covering an increasing range of therapeutic approaches including Child Psychotherapy, Forensic Psychotherapy, Art Psychotherapy, Paediatric Occupational Therapy, Drama Therapy, Speech and Language Therapy, Educational Psychotherapy, Cognitive Behaviour Therapy, Psychiatric and Clinical Psychology.

THE CALDECOTT FOUNDATION LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Review of the year

Within the rest of this section of the report we will set out progress against our current strategic plan under the heading of each of our three Strategic Pillars.

Pillar 1 – Community

This year we held a record number of events aimed at brining together our community and building stronger relationships. During the Summer holiday we held our 66th annual Summer Camp with 5 days of fantastic outdoor activities, delicious food and campfire stories. This continues to be an event in the calendar that everyone looks forward to and a really special time where lifelong memories are made.

In October Caldecott House hosted a Halloween party with our whole community coming together to enjoy an evening together topped off by a fantastic firework display.

In the lead up to Christmas, Caldecott House once again transformed into a winter wonderland welcoming over 200 friends and supporters (both new and old) to our annual Christmas Craft Fayre. Closer to Christmas itself we held our Christmas party with a disco, games and of course a visit from Father Christmas whose grotto magically appeared along with a huge sack of presents for the children.

During the Easter holidays we held our first Caldecott Egg Hunt with the Easter Bunny very kindly agreeing to hide an egg, full of chocolate, sweets and toys for each child. There was also a computer games bus for the older children and soft play for the younger ones which were enjoyed in between grabbing a delicious lunch from our BBQ.

As part of our work to improve outcomes for children, wherever they are living, Caldecott School welcomed 36 parents over the year to join one of our ‘stay and learn’ sessions. These covered topics including Zones of Regulations, Attachment Based Play, Autism Awareness, Avoidant Eating, Speech and Language and Talking Mats.

We have also supported children further afield through training that was delivered to 11 teachers from schools across

Pillar 2 – Inclusion

Caldecott School is already setup to support children to access education in small class groups of up to 8 pupils. However, we recognised that there is a cohort of children for whom even a class of 3 pupils is too much at the current time. In order to better support this group of pupils, in 2024 we re-developed a satellite classroom in Ashford which we have called Stepping Stones. This new classroom welcomed its first 3 pupils in January 2025 and has already had a significant positive impact on their progress towards a return back to our main school site.

We have also taken steps to further embed the voice of our children into our governance and decision making. Firstly, the views of children are now part of every Care & Therapy Committee, Board of Governors and Fostering Board meeting as well as feeding into the quarterly meetings of our Board of Trustees. Secondly, we have recruited new Trustees with lived experience of being in care and living with a disability.

During the year a number of decisions were made as a direct result of this input including changes to our annual Summer Camp, holding more internal events based on sport, changes to the way we support the children of our foster carers and improvements to outdoor areas at our schools.

Pillar 3 - Sustainability

During the year we saw a 9% increase in the number of children and young people we supported (124) compared to the previous year (114). The majority of this increase relates to our education service evidencing the success of our strategic plan to invest in capacity at Caldecott School. During the year this investment continued with new lunch and dining facilities at our Primary School, a refurbished library, improvements to outdoor spaces and the development the new ‘Stepping Stones’ classroom as previously mentioned.

Another important element of our focus on sustainability has been our investment over several years in solar panels. This was the first year where we could fully evaluate the impact of this work with all six of our solar panel arrays being fully operational for the full financial year. We can now report that during the year our solar panels produced enough electricity to save 65,000 kgs of CO2 from entering the atmosphere. This is roughly equivalent to planting 3,737 new trees.

THE CALDECOTT FOUNDATION LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Plans for the future:

Next year we will continue to drive forward further improvements for the benefit of our children and young people. The focus of this work is based on our Strategic Plan and our three ‘Strategic Pillars’ of Community, Inclusion and Sustainability. Through this plan we seek to embed long term organisational success whilst reaching more children and families.

Pillar 1 – Community

Community is something that has always been, and continues to be, extremely important to Caldecott. Over this coming year we will be:

Pillar 2 – Inclusion

Ensuring that every member of our community feels valued as an individual is something that we are passionate about. This year our focus will be:

Pillar 3 - Sustainability

As a charity supporting children, we should rightly place a high significance on how the choices that we make today will impact on their future as well as our local, national and international community. Our sustainability projects for the year are:

Principal risks and uncertainties

The Trustees have identified and evaluated the major strategic, financial and operational risks which the charity faces. Processes are in place to implement and monitor control measures designed to eliminate or reduce the likelihood and/or impact of those risks.

Below is a table of our highest risks and a description of the key controls in place to eliminate or reduce the risks posed.

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Highest Risks Key Controls
Staff Recruitment and Retention. • Regular review of pay and benefits informed by market intelligence and
consultation with staff.
• Focus on Health and Wellbeing. Provision of health cash scheme, employee
assistance programme, health checks, wellbeing programmes, occupational
health and in house mental health support.
• Investment in training and recognition of length of service through support to
pursue a number of career paths.
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THE CALDECOTT FOUNDATION LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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Principal risks and uncertainties (continued)
Highest Risks Key Controls
Crystallisation of our KCC Pension • Provision of a range of services creates diversity in revenue sources –
resulting in the repayment of an residential care, fostering, education and therapy.
unaffordable Cessation Deficit. • Expert independent advice obtained to inform Board discussion and decision
making. This includes affordable repayment options which are evaluated
periodically or in response to change.
• Additional voluntary contributions paid monthly to reduce the deficit over time.
• Although the scheme has been closed to new entrants, we retain the ability to
nominate new employees to the scheme should this be required.
A high proportion of revenue relating • Provision of a range of services creates diversity in revenue sources –
to a small number of Local Authorities residential care, fostering, education and therapy.
customers. • Accepting young people into our children’s homes from all over the UK results
in a diverse customer base.
• Expansion of our fundraising activity through our fundraising strategy.
• Provision of a weekday boarding service supports students attending Caldecott
School from a greater number of Local Authorities areas.
• Communication with Local Authorities to improve understanding of the high-
quality services which we deliver, and the exceptional outcomes achieved.
• Monitoring the impact of changes in political leadership on Local Authority
policies on education and children’s social care.
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We believe that one of our greatest strengths as an organisation is the level and quality of resources that we make available to support our young people. Ensuring that we continue to improve is essential to best meet the needs of our children and young people and maintaining our exceptional reputation with Local Authorities and Ofsted. The key controls we have in place are:

Fundraising

The Foundation does not employ any professional fundraisers to fundraise on its behalf, but all staff members and any volunteers involved in fundraising activities are trained in accordance with recognised standards so as to ensure that the public, including vulnerable people, are protected from unreasonable or intrusive approaches. The Foundation has not received any complaints about its fundraising activities.

Financial review

The Group Balance Sheet shows a positive position of £7,826k (2024: £7,528k), and the Balance Sheet for The Caldecott Foundation has improved from £7,716k to £8,006k.

Cash Flow

The Foundation has been generating significant positive cash flow from its activities for the past several years. These funds have been used in part to enable expansion and improvement of the services we offer across a broad range of what we do. These improvement projects have been designed to raise our efficiencies and positive environmental impact, to invest in training and working conditions for those who work for us, and to improve the offering to the children who depend upon us. Remaining cash has been used to build our free cash reserves towards our target of 3 months of operating costs and to pay down part of our pension scheme deficit in line with professional advice. We expect to see continued progress on all these fronts.

THE CALDECOTT FOUNDATION LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Pension Scheme

The Pension Scheme deficit has remained at £Nil (2024 £Nil), based on the latest actuarial valuation. However, the Foundation does have a historic deficit on the KCC LGPS. This remains a major issue for the Foundation to manage. The Board and Finance Committee have taken professional advice and keep the issue under constant appraisal. We have appropriate plans in place. It is a particularly difficult time for Pension Schemes. Actuarial factors, Interest rates, and Bond Yields have, for some time, behaved in ways which are unusual in the long term. The Caldecott Scheme deficit is a long-term deficit which allows us many years to resolve it. Contributions continue to be paid in line with the Actuary’s advice.

We have taken specific professional advice on our actions to start paying down our pension scheme deficit with additional voluntary contributions of £180k per annum starting 1st April 2021. The advice received is that this is a timely action of a sensible amount, which taken in conjunction with other measures, is appropriate to the size of the challenge over the next several years.

Outlook

The Trustees welcome the great progress made to the financial health of the Foundation over the past several years. We remain conscious of the need to maintain continuous improvement to combat the ever more severe financial constraints which all those engaged in the Care sector face. The excellent standing of our care facilities reflected in our Ofsted ratings is testament to our determination to be ranked with the very best in our field. In this lies our confidence that we will continue to offer outstanding care to the children in our care, whilst also sustaining continued improvement in our financial strength alongside further expansion in our activities.

Funds position

On 31 March 2025, restricted funds amounted to £165k (2024: £202k) and further details can be found in note 19 to the financial statements.

On 31 March 2025 consolidated designated funds amounted to £6,246k (2024: £6,289k) and further details can be found in note 20 to the financial statements. The main elements of the designated funds are the fixed asset reserve, amounting to £5,960k (2024: £6,051k) and the LGPS deficit amounting to £Nil (2024: £Nil).

As detailed above, the unrestricted fund has a positive balance of £1,197k on 31 March 2025 (2024: £827k). The Foundation has taken a series of steps to reduce costs and improve financial performance. This progress is expected to continue through the coming year.

Going concern

The Foundation continues to be supported by the company’s bankers and meets its day to day working capital requirements through its cash reserves. On this basis, the Trustees consider it appropriate to prepare the accounts on the going concern basis.

Objectives and activities

The principal objects for which the Foundation was established as a Company Limited by Guarantee and not having a share capital are:-

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Foundation should undertake.

THE CALDECOTT FOUNDATION LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Investment policy

Any cash deemed to be surplus by the Trustees, other than for the day-to-day running of the charity, is held in assets which are available to the Foundation at short to medium term notice. The trustees regularly review the requirements of the Foundation through cash flow forecasting to ensure that sufficient funds are readily available at short notice to meet day-today needs, and that returns are maximised on the remaining funds through longer term investment. To minimise the risk to the charity and its funds, surplus cash is held with UK financial institutions with a good credit rating.

Reserves policy

The Foundation's target is to achieve and maintain unrestricted, undesignated reserves to cover a minimum of 3 months committed running costs. This equates to approximately £2.5 million based on budgeted running costs for the next 12 months. At the year end, the Foundation had total reserves of £7.715 million, much of which is tied up in property which cannot be easily realised. At the year end the Foundation had unrestricted reserves of £1,197k (2024: £827k). It remains our intention to build free reserves towards the target.

Pay policy for key management personnel

The Trustees consider the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the Foundation on a day-to-day basis. All Trustees give of their time freely and no trustee received remuneration in the year. The pay of the senior staff is reviewed annually and normally increased in accordance with market rates.

Structure, governance and management

The Foundation is a company limited by guarantee and is governed by its Memorandum and Articles of Association. The Council shall consist of the officers of the company, namely the Chair, Deputy Chair and Treasurer; not less than 6 and not more than 25 (including the officers of the company) members of the company. At every Annual General Meeting, one third of the members, excluding the Chair, Deputy Chair and Treasurer, shall retire by rotation. Any retiring member is eligible for immediate re-election. With respect to the Chair, Deputy Chair and Treasurer, at every third Annual General meeting they shall retire from office. They may stand for re-election. However if the Chair and Deputy Chair have completed more than five years in office and the Treasurer has completed more than eight years in office they may not stand for re-election.

The Trustees, who are also the directors for the purpose of company law, and who served during the year were:

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||| |---|---| |Charles Lister (Chairman)|Andrew Ireland (appointed 2 May 2024)| |Susan Appleby|Folasade Phillips (Treasurer)| |Jerome Flechais|Maree Thorn| |Richard Ford (appointed 19 October 2023)|Simon Wakeman| |Colin Green (Vice Chair) (resigned 2 May 2024)|Caroline Whillans|

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Appointment and recruitment of Trustees

A recruitment and appointment procedure for Trustees has been adopted. When a Trustee vacancy occurs the Nominations Committee conducts a skills audit and seeks out, by a variety of means including open advertisement, prospective Trustees with the requisite skills and experience. Candidates are invited to meet with the Managing Director and senior managers prior to being interviewed by members of the Nominations Committee. A recommendation is then made to the Board for approval.

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Committee structure, induction and training

The Trustees' responsibilities in respect of accounting records, safeguarding of assets and the prevention and detection of fraud and other irregularities are set out in the Statement of Trustees' Responsibilities. Trustee induction and training have been developed. As part of the process of satisfying these obligations, the Foundation has reviewed its present system of internal control to ensure that the controls are appropriate to the Foundation's activities. The Internal Control Manual has been further developed.

THE CALDECOTT FOUNDATION LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Committee structure, induction and training

During the year the Board of Trustees meets at least 4 times and a number of committees also meet. These include as a minimum:-

Each committee has defined Terms of Reference which have been agreed by the Board of Trustees. Occasionally a task focused group will be convened and disbanded once the task has been achieved.

Day to day management

The day to day management of the charity is delegated to the Senior Management Team consisting of:

Chief Executive Officer Nicholas Barnett Head of Education Stacey McShane Head of Finance Steve Anderson Referrals and Commissioning Manager Damion Napier Business Manager Tim Allison Operations Manager Kevin Gore

Annually, in September, all Trustees and officers of the organisation will declare any relevant pecuniary information which may affect their independence or ability to discharge their duties.

Pay policy for key management personnel

The Trustees consider the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the Foundation on a day to day basis. All Trustees give of their time freely and no trustee received remuneration in the year. The pay of the senior staff is reviewed annually and normally increased in accordance with market rates.

Trustees responsibilities

The Trustees (who are also directors of The Caldecott Foundation for the purposes of company law) are responsible for preparing the Trustees’ Annual Report (including the Strategic 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 year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE CALDECOTT FOUNDATION LIMITED

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Disclosure of information to auditors

Each of the Trustees have confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information.

A resolution proposing that Azets Audit Services be reappointed as auditor of the charitable company will be put to the members.

By Order of the Board of Trustees Date: 24 July 2025

Mr Charles Lister, Chairman

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE CALDECOTT FOUNDATION LIMITED

Opinion

We have audited the financial statements of The Caldecott Foundation Limited (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 Charitable Company Balance Sheet, the Consolidated Cash Flow Statement and the related notes. 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 (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis of 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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 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 Trustees Annual Report, other than the financial statements and our auditor’s 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.

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE CALDECOTT FOUNDATION LIMITED

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors’ report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees’ responsibilities statement set out on page 8, 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 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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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 auditor’s 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.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE CALDECOTT FOUNDATION LIMITED

Extent to which the audit was considered capable of detecting irregularities, including fraud In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

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 misstatement 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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE CALDECOTT FOUNDATION LIMITED

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. 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 auditor’s 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 the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Siobhan Holmes (Senior Statutory Auditor) for and on behalf of Azets Audit Services Statutory Auditor Date: 22 August 2025

First Floor, River House 1 Maidstone Road Sidcup Kent DA14 5RH

THE CALDECOTT FOUNDATION LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations and legacies
2
3
Investment income
Income from investments
Interest receivable
Other
4
Total Income
Expenditure on:
Raising funds
5
Charitable activities
5
Total expenditure
5
Transfers between funds
20
Other recognised gains / (losses):
13
17
Reconciliation of funds:
Fund balances at 31 March 2025
Fund balances at 1 April 2024
Net movement in funds
Revaluation gains/(losses) on fixed
asset investment
Remeasurement gain on defined
benefit pension scheme
Charitable activities
Net income/(expenditure) before
transfers
Net income/(expenditure) after
transfers		 Unrestricted
Designated
Restricted
2025
Funds
Funds
Funds
Total
£000s
£000s
£000s
£000s
-
16
32
48
10,588
-
822
11,410
-
-
-
-
39
-
-
39
12
-
-
12
10,639
16
854
11,509
-
9
-
9
10,352
10
840
11,202
10,352
19
840
11,211
287
(3)
14
298
142
(91)
(51)
-
429
(94)
(37)
298
-
-
-
-
-
-
-
-
429
(95)
(37)
298
1,037
6,289
202
7,528
1,466
6,195
165
7,826		 2024
Total
£000s
189
10,911
-
36
17
11,153
2
10,855
10,857
296
-
296
-
-
296
7,232
7,528

All transactions are derived from continuing activities. All recognised gains and losses are included in the Statement of Financial Activities.

THE CALDECOTT FOUNDATION LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Comparative information only

Note
Income from:
Donations and legacies
2
3
Investment income
Income from investments
Interest receivable
Other
4
Total Income
Expenditure on:
Raising funds
5
Charitable activities
5
Total expenditure
5
Transfers between funds
20
Other recognised gains / (losses):
13
17
Reconciliation of funds:
Fund balances at 31 March 2024
Net income/(expenditure) after transfers
Revaluation gains/(losses) on fixed asset investment
Remeasurement gain on defined benefit pension
scheme
Net movement in funds
Fund balances at 1 April 2023
Charitable activities
Net income/(expenditure) before transfers		 Unrestricted
Designated
Restricted
2024
Funds
Funds
Funds
Total
£000s
£000s
£000s
£000s
-
112
77
189
10,165
-
746
10,911
-
-
-
-
36
-
-
36
17
-
-
17
10,218
112
823
11,153
-
2
-
2
10,079
15
761
10,855
10,079
17
761
10,857
139
95
62
296
(134)
134
-
-
5
229
62
296
-
-
-
-
-
-
-
-
5
229
62
296
1,032
6,060
140
7,232
1,037
6,289
202
7,528

All transactions are derived from continuing activities. All recognised gains and losses are included in the Statement of Financial Activities.

THE CALDECOTT FOUNDATION LIMITED

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Intangible assets
11
Tangible assets
12
Investments
13
Current assets
Debtors
14
Cash at bank and in hand
15
Net current assets
Total assets less current liabilities
Defined benefit pension liability
17
Net funds
Funds
Restricted funds
19
20
Fixed asset reserve
Pension Liability
Extras' fund
Other charitable funds
Non-charitable funds
13
21
The accounts were approved by the Board on 24 July
Designated funds:
Unrestricted funds:
Creditors: amounts falling due within
one year		 £000s
£000s
1
5,956
3
5,960
619
2,170
2,789
(923)
1,866
7,826
-
7,826
165
5,960
-
235
6,195
1,248
218
7,826
2025
2025		 £000s
£000s
1
6,047
3
6,051
527
1,667
2,194
(717)
1,477
7,528
-
7,528
202
6,051
-
238
6,289
827
210
7,528
2024

Mr Charles Lister (Chair) Trustee

Company Number: 00419256

THE CALDECOTT FOUNDATION LIMITED

CHARITY BALANCE SHEET AS AT 31 MARCH 2025

Note
£000s
£000s
Fixed assets
Tangible assets
12
5,956
Investments
13
404
6,360
Current assets
Debtors
14
498
Cash at bank and in hand
1,928
2,426
15
(780)
Net current assets
1,646
Total assets less current liabilities
8,006
Defined benefit pension liability
17
-
Net funds
8,006
Funds
Restricted funds
19
165
20
Fixed asset reserve
6,358
Pension Liability
-
Extras' fund
235
6,593
Other charitable funds
1,248
8,006
The accounts were approved by the Board on24 July 2025
2025
Creditors: amounts falling due within
one year
Unrestricted funds:
Designated funds:		 £000s
£000s
6,047
403
6,450
407
1,464
1,871
(605)
1,266
7,716
-
7,716
202
6,449
-
238
6,687
827
7,716
2024

Mr Charles Lister (Chair) Trustee

Company Number: 00419256

THE CALDECOTT FOUNDATION LIMITED

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

----- Start of picture text -----
Note 2025 2024
£000s £000s
Net cash flow from operating activities 22 987 1,111
Cash flow from investing activities
Payments to acquire tangible fixed assets (523) (633)
- -
Proceeds on disposal of tangible fixed assets
Interest and investment income received 39 36
Net cash flow from investing activities (484) (597)
Cash flow from financing activities
-
Repayments of borrowing (79)
-
(79)
Net increase in cash and cash equivalents 503 435
Cash and cash equivalents at 1 April 2024 1,667 1,232
Cash and cash equivalents at 31 March 2025 2,170 1,667
Cash and cash equivalents consists of:
Cash at bank and in hand 2,170 1,667
Cash and cash equivalents at 31 March 2025 2,170 1,667
----- End of picture text -----

THE CALDECOTT FOUNDATION LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(a) Basis of accounting

The Caldecott Foundation Limited is a registered charitable company in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities is to provide residential care, therapy and education for children and young people who have faced deprivation, cruelty or neglect, and who may have emotional, behavioural or educational difficulties.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Consolidation

In the opinion of the member of the committee, the charitable company and its subsidiary undertakings comprise a small group.

The consolidated financial statements incorporate the results of the charity and its trading subsidiary, Caldecott Fostering Limited (company number 07389373) , for the year ended 31 March 2025. Further details on the subsidiary can be fiund in note 13. As a consolidated Statement of Financial Activities is published, a separate Statement of Financial Activities for the parent company is omitted from the group statements by virtue of Section 408 of the Companies Act 2006.

(c) Fund accounting

Unrestricted general funds are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charitable company. Restriction arises when specified by the donor or when funds are raised for particular restricted purposes.

Designated funds represent funds invested in fixed assets. The designated fund balance has been represented to ensure that the fund balance accurately reflects the designation policy adopted by the trustees.

(d) Income recognition

All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Foundation has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

THE CALDECOTT FOUNDATION LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies (continued)

(d) Income recognition

Voluntary income, including donations, gifts and grants that provide core funding or are of a general nature, is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

Care services and fees are included in the Statement of Financial Activities when receivable.

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.

(e) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

• Costs of raising funds includes all expenditure incurred by the Foundation to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading; and

• Expenditure on charitable activities comprises those costs incurred by the Foundation in the delivery of its activities and services for beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them.

(f) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Other costs have been allocated on the basis of staff time spent.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

The analysis of these costs is included in note 6.

(g) Intangible fixed assets

Goodwill on consolidation is amortised over a period of 5 years following year of acquisition.

(h) Tangible fixed assets and depreciation

With the exception of freehold property, tangible fixed assets are stated at cost less accumulated depreciation and any recognised impairment losses. Freehold property is stated in the balance sheet at deemed cost being the fair value on the date of transition to FRS102 less any subsequent depreciation and impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Assets costing £1,000 or more are capitalised as tangible fixed assets at the discretion of the Head of Finance and are carried at cost, net of depreciation and any provision for impairment.

THE CALDECOTT FOUNDATION LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies (continued)

(h) Tangible fixed assets and depreciation (continued)

Depreciation is provided on all tangible assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life, as follows:

Freehold land Not depreciated Freehold buildings & improvements 2% or 5% straight line Fixtures, fittings & equipment 10%, 20% or 33% straight line Motor Vehicles 20% straight line

(i) Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

(j) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(k) Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Retirement benefits to employees of the Foundation are provided by the Teachers’ Pension Scheme (‘TPS’) and the Local Government Pension Scheme (‘LGPS’). These are defined benefit schemes. The charity also operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

The TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees’ working lives with the Foundation in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary's Department on the basis of quadrennial valuations using a projected unit credit method. As stated in note 18, the TPS is a multi-employer scheme and there is insufficient information available to use defined benefit accounting. The TPS is therefore treated as a defined contribution scheme for accounting purposes and the contributions recognised in the period to which they relate.

The LGPS is a funded scheme and the assets are held separately from those of the Foundation in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The amounts charged to operating surplus are the current service costs and the costs of scheme introductions, benefit changes, settlements and curtailments. They are included as part of staff costs as incurred. Net interest on the net defined benefit liability/asset is also recognised in the Statement of Financial Activities and comprises the interest cost on the defined benefit obligation and interest income on the scheme assets, calculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised in other recognised gains and losses.

Actuarial losses are recognised immediately in other recognised gains and losses. Actuarial gains are recognised up to a maximum of the previously recognised losses in other recognised gains and losses.

THE CALDECOTT FOUNDATION LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies (continued)

(l) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(m) Judgements and key sources of estimation uncertainty

Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Foundation makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 12 for the carrying amount of the property plant and equipment, and note 1(h) for the useful economic lives for each class of assets.

LGPS

The present value of the Local Government Pension Scheme defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost (income) for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 17, will impact the carrying amount of the pension liability. Furthermore a roll forward approach which projects results from the latest full actuarial valuation performed at 31 March 2022 has been used by the actuary in valuing the pensions liability at 31 March 2025. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension liability.

Bad debt provision

The value of trade debtors is sensitive to the recoverability in full of any invoices issued to each customer. Once the debt becomes overdue it is chased and periodically reviewed to ensure it is recoverable in full. If a provision is deemed necessary this is included on an annual basis. No provision for bad and doubtful debts is currently included in the accounts.

(n) Going concern

The Foundation continues to be supported by the company’s bankers and meets its day to day working capital requirements through its cash reserves. The nature of the Foundation’s activities are such that there can be considerable unpredictable variation in the timing of cash inflows. The trustees have prepared projected cash flow information for the period ending 31 March 2026 and beyond. On the basis of this cash flow information, the trustees consider that the Foundation will continue to meet its obligations from its cash reserves. On this basis, the trustees consider it appropriate to prepare the accounts on the going concern basis.

THE CALDECOTT FOUNDATION LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

2
DONATIONS AND LEGACIES
Designated funds		 funds
£		 2025
2024
£000s
£000s
16
112
16
112
Restricted funds:
Other restricted donations and
Swiss RE Foundation
Legacy
Lady Kingsdown Donation
John Swire Charitable Trust		 gifts 22
13
-
4
-
-
10
10
-
50
32
77
Total 48
189
3
CHARITABLE ACTIVITIES
Local Authority Contract
Local Authority Contract
Local Authority Contract
Statutory Funding		 Residential care
School
Fostering		 Unrestricted
Restricted
funds
funds
£000s
£000s
5,152 -

4,180 -

1,256 -

- 822
 Total
Total
2025
2024
£000s
£000s
5,152
5,005
4,180
3,862
1,256
1,298
822
746
10,588 822 11,410
10,911
4
OTHER INCOME
Other income		 2025
2024
£000s
£000s
12
17
12
17
5
EXPENDITURE
Costs of raising funds
Fundraising		 Staff Costs
£000s
-		 Direct costs Support costs
£000s
£000s
9
-		 Total
2025
Total
2024
£000s
£000s
9
2
- 9
-		 9
2
Charitable activities
Residential care
School
Fostering
Taxation		 3,082
2,345
291
-		 1,590
1,171
1,485
502
634
102
-
-		 5,843
5,773
4,332
4,005
1,027
1,076
-
-
Total charitable activities 5,718 3,709
1,775		 11,202
10,854
Total expenditure 5,718 3,718
1,775		 11,211
10,856

Included in direct costs and support costs are staff costs of £633k (2024: £602k) which are allocated above.

THE CALDECOTT FOUNDATION LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

6
SUPPORT COSTS
Residential
care
School
Fostering
£000s
£000s
£000s
Management
918
394
48
Finance
123
53
7
IT
54
23
33
Human resources and training
75
32
14		 Total
2025
Total
2024
£000s
£000s
1,360
1,308
183
166
110
94
121
107
1,170
502
102		 1,774
1,675
7
GOVERNANCE COSTS
Staff costs
Travel and subsistence
Independent reports and trustee recruitment
Auditors' remuneration
Auditors' remuneration - prior year under provision
Auditors' remuneration - non-audit services
Auditors' remuneration - subsidiary
Legal fees		 2025
2024
£000s
£000s
87
83
-
-
4
2
26
25
-
1
3
1
10
10
28
28
158
150

Governance costs are included within support costs detailed above and have been allocated on the basis of time spent in respect of staff costs and direct apportionment basis for other costs.

8
NET MOVEMENT IN FUNDS
This is stated after charging
Depreciation of tangible fixed assets
Amortisation
Auditors' remuneration (including subsidiary)		 2025
2024
£000s
£000s
614
548
-
30
36
36

9 TRUSTEES' REMUNERATION AND REIMBURSED EXPENSES

None (2024: none) of the trustees (or any persons connected with them) received remuneration during the year. One trustee was reimbursed expenses in the year amounting to £341 relating to travel expensese (2024: £nil).

10 EMPLOYEES

Number of employees

The number of employees, by headcount, during the year was:
Senior management team
School
Residential care
Fostering
Administration
Support services		 2025
2024
Number
Number
6
6
60
60
67
69
6
9
7
11
9
9
155
164

THE CALDECOTT FOUNDATION LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

10
EMPLOYEES
Employment costs
Wages and salary costs
Social Security costs
Apprenticeship levy
Pension costs - defined benefit
The number of employees whose annual emoluments were £60,000 or more were:
£60,001 - £70,000
£70,001 - £80,000
£80,001 - £90,000
£90,001 - £100,000
£100,001 - £110,000
Pension costs - defined contribution		 2025
2024
£000s
£000s
5,301
5,080
532
502
8
9
342
263
168
161
6,351
6,015
2025
2024
2
3
2
2
1
-
-
-
1
1

Of the employees whose emoluments exceed £60,000, 1 (2024: 1) has retirement benefits accruing under defined benefit pension schemes and 5 (2024: 5) have retirement benefits accruing under defined contribution schemes.

The senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the Foundation on a day to day basis and are detailed on page 1. The aggregate remuneration paid to the key management personnel totalled £599k (2024: £620k).

The CEO, N Barnett, was granted a loan in 2020 which was repayable over 5 years. During the year the final instalment of £2k was repaid to the charity, resulting in £nil amounts outstanding at 31 March 2025.

11
INTANGIBLE ASSETS
Group
Cost / deemed cost
As at 1 April 2024 and at 31 March 2025
Amortisation
As at 1 April 2024
Charge for period
At 31 March 2025
Net book values
At 31 March 2025
At 31 March 2024		 Goodwill
Total
£000s
£000s
152
152
151
151
-
-
151
151
1
1
1
1

THE CALDECOTT FOUNDATION LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

12
TANGIBLE ASSETS
Group and Charity
Cost / deemed cost
As at 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
As at 1 April 2024
Charge for period
On disposals
At 31 March 2025
Net book values
At 31 March 2025
At 31 March 2024		 Land and
buildings
Improvements
to buildings
Fixtures,
fittings and
equipment
Motor
Vehicles
Total
£000s
£000s
£000s
£000s
£000s
7,653
713
2,412
186
10,964
-
-
480
43
523
-
-
(92)
(26)
(118)
7,653
713
2,800
203
11,369
2,973
442
1,365
137
4,917
152
50
393
19
614
-
-
(92)
(26)
(118)
3,125
492
1,666
130
5,413
4,528
221
1,134
74
5,956
4,680
271
1,047
49
6,047

Certain freehold properties were revalued in July 2004 and this valuation was incorporated into the financial statements for the year ended 31 March 2005. As part of the transistional provisions as part of the introduction of FRS102 these valuations were taken to be deemed cost.

If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been as follows:

Cost
Accumulated depreciation
At 31 March 2025		 2025
2024
£000s
£000s
1,579
1,579
(688)
(656)
891
923

All other tangible fixed assets are stated at historical cost.

Taxation

THE CALDECOTT FOUNDATION LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

13 FIXED ASSET INVESTMENTS

----- Start of picture text -----
||||| |---|---|---|---| |Shares in| |Listed|subsidiary| |investments|undertaking|Total| |Group|£000s|£000s|£000s| |Market value at 1 April 2024 and at 31 March 2025|3|-|3| |Historical cost:| |At 31 March 2025|1|-|1| |At 31 March 2024|1|-|1| |Charity|£000s|£000s|£000s| |Market value at 1 April 2024 and at 31 March 2025|3 401|404| |Historical cost:| |At 31 March 2025|1|401|402| |At 31 March 2024|1|401|402|

----- End of picture text -----

The fair value of the listed investments is determined by reference to the mid-market value of shares at the Balance Sheet date and represents the shareholding in Santander plc.

Shares in subsidiary undertaking

Caldecott Fostering Limited is now a wholly owned subsididary.

Holdings of more than 20%

The charity holds more than 20% of the share capital of the following company:

----- Start of picture text -----
||||| |---|---|---|---| |Proportion of voting rights| |Country of registration or|and ordinary share capital|Principal| |Subsidiary undertaking|incorporation|held|activity| |Caldecott Fostering Limited|England and Wales|100%|Fostering|

----- End of picture text -----

The principal activity of Caldecott Fostering Limited is the provision of the foster care for children on behalf of local authorities. The investment is measured at cost less impairment on the basis that they represent shares in entities that are not publicly traded and the fair value cannot otherwise be measured reliably.

Surplus on ordinary activities before taxation Taxation

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

THE CALDECOTT FOUNDATION LIMITED

13 FIXED ASSET INVESTMENTS

The trading results of Caldecott Fostering Limited for the year ended 31 March 2025 are as follows:

Turnover
Cost of sales
Administration costs		 2025
2024
£000s
£000s
1,256
1,302
(634)
(673)
(449)
(465)
Operating surplus for the year
Corporation tax
Distributions to parent charity under gift aid		 173
164
-
-
(165)
(39)
Retained surplus for the year 8
125
The assets and liabilities of the subsidiary at 31 March 2025 were:
Current assets
Current liabilities		 369
329
(149)
(117)
Aggregate share capital and reserves 220
212
Share capital
Profit and loss reserve		 2
2
218
210
220
212
14
DEBTORS
Trade debtors
Other debtors
Amounts due from subsidiary undertaking
Prepayments		 2025
2024
£000s
£000s
467
351
24
47
-
-
128
129
Group		 2025
2024
£000s
£000s
364
267
-
6
6
5
128
129
Charity
619
527		 498
407
15
Trade creditors
Taxes and social security costs
Other creditors
Accruals and deferred income
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR		 2025
2024
£000s
£000s
293
327
278
131
229
213
122
46
Group		 2025
2024
£000s
£000s
188
273
272
125
197
161
122
46
Charity
923
717		 780
605

Barclays Bank PLC had a legal charge over the freehold property known as Caldecott House in respect of all monies due or to become due.

THE CALDECOTT FOUNDATION LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

16 DEFERRED INCOME

Deferred income is included within:
Creditors due within one year
Deferred income at 1 April 2024
Released from previous years
Resources deferred in the year
Deferred income at 31 March 2025		 2025
2024
2025
2024
£000s
£000s
£000s
£000s
77
-
77
-
-
-
-
-
-
-
-
-
77
-
77
-
77
-
77
-
Charity
Group

Deferred income consists of fees invoiced in advance.

17 PENSION AND OTHER POST-RETIREMENT BENEFIT COMMITMENTS

The Foundation's employees belong to the following pension schemes,: the Teachers' Pension Scheme England and Wales (TPS) for academic and related staff; and the Local Government Pension Scheme (LGPS) for nonteaching staff, which is managed by Kent County Council. Both are multi-employer defined benefit schemes. In addition, the Foundation operate a defined contribution stakeholder scheme and contribute into personal pension schemes.

The pension costs are assessed in accordance with the advice of independent qualified actuaries. The latest actuarial valuation of the TPS related to the period ended 31 March 2020 and of the LGPS to the period ended 31 March 2022.

Teachers' Pension Scheme

Introduction

The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pension Scheme Regulations 2014. Membership is automatic for teachers in academies. All teachers have the option to opt-out of the TPS following enrolment.

The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of salary - these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

Valuation of the Teachers' Pension Scheme

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to ensure scheme costs are recognised and managed appropriately and the review specifies the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2020. The valuation report was published by the Department for Education on 27 October 2023, with the SCAPE rate, set by HMT, applying a notional investment return based on 1.7% above the rate of CPI. The key elements of the valuation outcome are:

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

THE CALDECOTT FOUNDATION LIMITED

17 PENSION AND OTHER POST-RETIREMENT BENEFIT COMMITMENTS

The result of this valuation will be implemented from 1 April 2024. The next valuation result is due to be implemented from 1 April 2028.

The employer’s pension costs paid to TPS in the period amounted to £295k (2024: £209k).

A copy of the valuation report and supporting documentation is on the Teachers’ Pensions website.

Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The Foundation is unable to identify its share of the underlying assets and liabilities of the plan. Accordingly, the Foundation has taken advantage of the exemption in FRS 102 and has accounted for its contributions to the scheme as if it were a defined contribution scheme. The Foundation has set out above, the information available on the scheme.

Pension contributions amounting to £34k (2024: £26k) were unpaid to the Teachers' Pension Scheme at 31 March 2025.

Kent County Council Pension Fund

The LGPS is a funded defined benefit pension scheme, with the assets held in separate trustee-administered funds. The total contribution made for the year ended 31 March 2025 was £64k (2024: £73k), of which employer’s contributions totalled £47k (2024: £54k) and employees’ contributions totalled £16k (2024: £19k). The minimum contribution rates for future years are 19.0% (from 1 April 2023) then increasing to 20% (from 1 April 2024) and 21% (from 1 April 2025) for employers and 5.5% to 12.5% for employees. In addition voluntary contributions totalling £180k (2024: £180k) were made by the employer to pay down the pension scheme deficit.

Pension contributions amounting to £5k (2024: £6k) were unpaid to the Kent County Council Pension Fund at 31 March 2025.

----- Start of picture text -----
|||| |---|---|---| |Principal actuarial assumptions|2025|2024| |%|%| |Rate of increase in salaries|3.90|3.95| |Rate of increase in pension payment|2.90|2.95| |Discount rate|5.80|4.90| |Inflation assumption - CPI|2.90|2.95|

----- End of picture text -----

The current mortality assumptions include sufficient allowance for future improvements in mortality rates. The assumed life expectations on retirement age 65 are:

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |Retiring today| |Males|20.7|20.8| |Females|23.3|23.3| |Retiring in 20 years| |Males|22.0|22.0| |Females|24.7|24.7|

----- End of picture text -----

THE CALDECOTT FOUNDATION LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

17 PENSION AND OTHER POST-RETIREMENT BENEFIT COMMITMENTS

(Continued)

Sensitivity analysis

Scheme liabilities would have been affected by changes in assumptions as follows:

Discount rate +0.5% (2024: +0.5%)
Discount rate -0.5% (2024: -0.5%)
Mortality assumption + 1 year
Mortality assumption - 1 year
Long term salary +0.5% (2024: +0.5%)
Long term salary -0.5% (2024 -0.5%)
Adjustment to pension increases +0.5% (2024: +0.5%)
Adjustment to pension increases -0.5% (2024: -0.5%)
The Foundation's share of the assets in the scheme were:
Equities
Bonds
Property
Gilts
Cash
Infrastructure
Absolute return fund
Total market value of assets		 2025
2024
-1089
-1357
+1227
+1541
+504
+644
-487
-620
+47
+59
-45
-56
+1210
+1505
-1078
-1332
2025
2024
£000s
£000s
12,502
12,586
3,264
3,115
1,798
1,941
1,301
1,585
868
344
1,100
970
1,121
1,093
21,954
21,634

For accounting years beginning on or after 1 January 2015, the expected return and the interest cost has been replaced with a single net interest cost, which will effectively set the expected return equal to the discount rate.

Amount recognised in the Statement of Financial Activities
Current service cost
Net interest cost
Administration expenses
Total operating charge		 2025
2024
£000s
£000s
44
56
(203)
(178)
20
19
(139)
(103)

THE CALDECOTT FOUNDATION LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

17
PENSION AND OTHER POST-RETIREMENT BENEFIT COMMITMENTS
Changes in the present value of defined benefit obligations were as follows:
At 1 April 2024
Current service cost
Interest cost
Change in financial assumptions
Change in demographic assumptions
Experience loss on defined benefit obligation
Estimated benefits paid
Contributions by Scheme participants
At 31 March 2025
Changes in the fair value of charity’s share of scheme assets:
At 1 April 2024
Interest on assets
Return on assets less interest
Other actuarial gains
Administration expenses
Employer contributions
Contributions by Scheme participants
Estimated benefits paid
At 31 March 2025
Restriction on scheme assets
Net assets recognised		 (Continued)
2025
2024
£000s
£000s
17,607
17,589
44
56
848
831
(2,495)
(154)
(43)
(234)
(52)
58
(615)
(559)
16
20
15,310
17,607
2025
2024
£000s
£000s
21,634
21,167
1,051
1,009
(339)
(220)
-
-
(20)
(19)
227
236
16
20
(615)
(559)
21,954
21,634
(6,644)
(4,027)
15,310
17,607

At 31 March 2025, the proportion of the LGPS scheme attributed to the charity showed an asset. However, under FRS102 an asset on the pension scheme can only be recognised in certain circumstances and these criteria were not met at 31 March 2025. Therefore the asset has not been recognised on the balance sheet.

Other defined contribution schemes

The company operates a stakeholder scheme into which it contributes a percentage of employees salary. In addition the company also contributes into certain employees own personal pension schemes.

Contributions payable by the company for the year 2025
2024
£000s
£000s
162
155

Pension contributions amounting to £23k (2024: £24) were unpaid to the stakeholder schemes at 31 March 2025.

18 COMPANY STATUS

The Foundation is a company limited by guarantee. In the event of a winding-up the liability of each member will not exceed £1.

THE CALDECOTT FOUNDATION LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

19 RESTRICTED FUNDS

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

CURRENT YEAR
Holidays / Camps / Trips
Sponsor a book
ESFA
Other fundraised funds
Pupil premium
Care leavers hardship fund
Fledborough Therapy Centre
Forest School
Swiss RE
Secondary Food Tech
SEC Sensory room
Social Worker Training
New Therapy Home
Primary kitchen, canteen & school hall
Treehouse Build
Rocking horse fund
Summer house sensory room
Other
COMPARATIVE YEAR
Holidays / Camps / Trips
Sponsor a book
ESFA
Other fundraised funds
Pupil premium
Care leavers hardship fund
Fledborough Therapy Centre
Forest School
Swiss RE
Secondary Food Tech
SEC Sensory room
Social Worker Training
New Therapy Home
Primary kitchen, canteen & school hall
Treehouse Build
Rocking horse fund
Other		 Balance at 1
April 2024
Income
Expenditure
Transfers
between
funds
Balance at 31
March 2025
£000s
£000s
£000s
£000s
£000s
(3)
16
(17)
-
(4)
-
-
-
-
-
-
777
(765)
-
12
12
-
(3)
-
9
53
45
(38)
-
60
7
-
-
-
7
3
-
-
-
3
13
-
-
-
13
10
-
(10)
-
-
18
-
-
-
18
-
-
-
-
-
10
-
-
-
10
10
-
-
-
10
50
1
-
(51)
-
10
10
-
-
20
4
1
(3)
-
2
-
4
(3)
-
1
5
-
(1)
-
4
202
854
(840)
(51)
165
Balance at 1
April 2023
Income
Expenditure
Transfers
between
funds
Balance at 31
March 2024
£000s
£000s
£000s
£000s
£000s
(5)
5
(3)
-
(3)
-
-
-
-
-
26
691
(717)
-
-
12
2
(2)
-
12
22
55
(24)
-
53
7
-
-
-
7
3
-
-
-
3
22
-
(9)
-
13
9
4
(3)
-
10
18
-
-
-
18
-
-
-
-
-
10
-
-
-
10
10
-
-
-
10
-
50
-
-
50
-
10
-
-
10
-
4
-
-
4
4
2
(1)
-
5
138
823
(759)
-
202

THE CALDECOTT FOUNDATION LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

----- Start of picture text -----
|||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |19|RESTRICTED FUNDS - CONTINUED| |Holidays / Camps /Trips out|For annual holidays, camps and trips out to theatres etc| |Sponsor a book|For sponsorship of children's special interest books and other reading| |Forest School|Funds|of|£120,000|were|received|from|The|Band|Trust|and|£12,229|from| |Morrisons|Foundation,|in|2019/20,|to|set|up|a|forest|school|and|provide| |outdoor sport and activity equipment.| |Other fundraised funds|To|fund|a|range|of|specific|small|items|including|leavers|packs,|art,|play|&| |music|equipment,|hardship|grants,|sport|&|challenge|activities|and|vocational| |education| |ESFA|To improve standards in the school and for capital expenditure in the school| |Pupil premium|Funds|received|from|Local|Authorities|and|the|ESFA|which|are|provided|for| |the education needs of individual school pupils| |Care leavers hardship fund|A fund for care leavers to request support from.| |Smeeth School Resources|Funding towards resources for the Smeeth school.| |Fledborough Therapy Centre|Funding towards a new therapy centre at Fledborough.| |Swiss RE|Funding to provide enhancements to the physical environment| |Other restricted funds|Funds|received|from|Local|Authorities|and|statutory|bodies|which|are| |provided for individual children and care leavers| |Secondary Food Tech|Fund to refurbish the Secondary food tech classroom| |SEC Sensory room|Fund to refurbish the Secondary sensory rooms| |Social Worker Training|Fund to provide training towards a social worker qualification| |New Therapy Home|Fund|to|refurbish|part|of|Caldecott|House|to|provide|a|new|area|for|children's| |therapy| |Primary kitchen, canteen & school|Fund to extend the dining area using existing space within the school and to| |hall|upgrade the kitchen to commercial standard.| |Treehouse Build|Fund to build a treehouse within the grounds.| |Rocking horse fund|Fund to repair the Stephenson Brothers rocking horse.| |Summer House sensory room|Fund to develop a sensory room.| |Transfer between funds|Represents|the|transfer|of|unspent|funds|to|other|restricted|funds|and| |correction of the opening balance.|

----- End of picture text -----

20 DESIGNATED FUNDS

The income funds of the group include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Balance at|New|Designations|Transfers/|Balance at 31| |GROUP - CURRENT YEAR|1 April 2024|designations|released|Gains|March 2025| |£000s|£000s|£000s|£000s|£000s| |Fixed asset reserve|6,051|-|(91)|5,960| |Pension reserve|-|- -|-|-| |Extras' fund|238 16|(19)|-|235| |6,289 16 (19)|(91)|6,195| |Balance at|New|Designations|Transfers/|Balance at 31| |GROUP - COMPARATIVE YEAR|1 April 2023|designations|released|Gains|March 2024| |£000s|£000s|£000s|£000s|£000s| |Fixed asset reserve|5,917 - -|134|6,051| |Pension reserve|-|- -|-|-| |Extras' fund|143 112|(17)|-|238| |6,060 112 (17)|134 6,289|

----- End of picture text -----

The fixed asset reserve - represents the net book value of fixed assets held net of any associated borrowings. The pension reserve - represents the pension scheme position at the year end.

The Extras fund - to be used for additional activities over and above those funded by core funding.

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

THE CALDECOTT FOUNDATION LIMITED

20 DESIGNATED FUNDS

The income funds of the group include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

CHARITY - CURRENT YEAR
Balance at 1
April 2024
£000s
Fixed asset reserve
6,449
Pension reserve
-
Extras' fund
238		 New
designations
Designations
released
Transfers/
Gains
Balance at
31 March
2025
£000s
£000s s
£000s
£000s
-
-
(91)
6,358
-
-
-
-
16 (19)
-
235
6,687 16 (19)
(91) 6,593
CHARITY - COMPARATIVE YEAR
Balance at 1
April 2023
£000s
Fixed asset reserve
6,285
Pension reserve
-
Extras' fund
143		 New
designations
Designations
released
Transfers/
Gains
Balance at
31 March
2024
£000s
£000s s
£000s
£000s
-
-
164
6,449
-
-
-
-
112 (17)
-
238
6,428 112 (17)
164 6,687
21
Intangible fixed assets
Tangible fixed assets
Investments
Current assets
CURRENT YEAR
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Fund balances at 31 March 2025 are represented by:
Creditors: amount falling due within one year		 Unrestricted
Designated
Restricted
Total
funds
funds
funds
£000s
£000s
£000s
£000s
-
1
-
1
-
5,956
-
5,956
-
3
-
3
1,389 1,235
165 2,789
(923)
-
-
(923)
466 7,195
165 7,826
Intangible fixed assets
Tangible fixed assets
Investments
Current assets
COMPARATIVE YEAR
Fund balances at 31 March 2024 are represented by:
Creditors: amount falling due within one year		 Unrestricted
Designated
Restricted
Total
funds
funds
funds
£000s
£000s
£000s
£000s
-
1
-
1
-
6,047
-
6,047
-
2
-
2
1,754 239
202 2,195
(717)
-
-
(717)
1,037 6,289
202 7,528

THE CALDECOTT FOUNDATION LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

22
RECONCILIATION OF NET INCOME/(EXPENDITURE)
Net income for year
Interest and investment income receivable
Amortisation of goodwill
(Increase) in debtors
Increase/(decrease) in creditors
Depreciation of tangible fixed assets		 TO NET CASHFLOW FROM OPERATING ACTIVITIES
2025
2024
£000s
£000s
298
297
(39)
(36)
614
548
-
30
(92)
119
206
153		 TO NET CASHFLOW FROM OPERATING ACTIVITIES
2025
2024
£000s
£000s
298
297
(39)
(36)
614
548
-
30
(92)
119
206
153
Net cash flow from operating activities 987
1,111
23
ANALYSIS OF CHANGES IN NET DEBT
Cash at bank and in hand
Bank overdrafts		 At 1 April 2024
Cash flow
£000s
£000s
1,668
502
-
-		 Non-cash
changes
At 31 March
2025
£000s
£000s
-
2,170
-
-
1,668
502		 -
2,170

24 FUTURE COMMITMENTS

Operating leases

Total future minimum lease payments under non-cancellable operating leases are as follows:

Group
Within one year
Between two and five years
In over five years
Charity
Within one year
Between two and five years
In over five years		 2025
2024
£000s
£000s
49
49
196
196
327
391
572
636
2025
2024
£000s
£000s
49
49
196
196
327
391
572
636
Land and buildings
Land and buildings		 2025
2024
£000s
£000s
-
5
-
-
-
-
-
5
2025
2024
£000s
£000s
-
5
-
-
-
-
-
5
Other
Other

Pension commitments

The Trustees agreed to pay additional pension contributions in respect of the Kent County Council Local Government Pension Scheme with effect from 1 April 2021. The monthly additional contribution is a minimum payment of £15k, or £180k annually until the deficit is cleared.

25 RELATED PARTIES

There were no related party transactions other than those disclosed in note 10 Employees.

26 CAPITAL COMMITMENTS

The charity had capital commitments at the year end as follows:

2025
2024
£000s
£000s
-
19