Caritas Care Limited (A Company Limited by Guarantee) Report and Financial Statements Year ending 31 March 2024 Charity number: 326021 Company number: 1596400 Pa8e l of 3Z
Caritas Care Limited REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024 INDEX Report of the Trustees Report of the Independent Auditors Statement of Financial Activities Balance Sheet Cash Flow Statement Notes on the Cash Flow Statement Notes on the Financial Statements Detailed Statement of Financial Activities Pa8e 16 19 20 21 21 22 32 REPORT OF THE TrUSTEES FOR THE YEAR ENDING 31 MARCH 2024 The trustees who are also dirertors of the charitable company are pleased to present their annual director5, report togetherwith the financial statements of the charity for the year ending 31 March 2024 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and the 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 I January 2019). Chalrfs POrt This has been a positive year for Caritas Care, and one where we have consolidated our services and maintained the quality of our offer. Making a difference is important to the Charity and l am pleased that we have demonstrated our ability to achieve ouraim again, during the year ending 31 March 2024. However, this has been another year shaped by both challenge and opportunity in terms of service delivery and finance. It is pleasing to note that we have continued to deliver outstanding seniices across our charity despite the financial pressures that we have encountered. The staff and volunteers continue to evidence their commitment and dedication to their service, the wider Charity and to our values, which are important to us and guide our work. Throughout the year, we have delivered our mission by providing chances, choices and opportunities for all who have engaged with U5, to live better lives. Mary Leavy Chair OUR PURPOSES AND ACHIEVEMENTS Objectives and alms The objects of the Charity, as stated in its Memorandum of Association are:. ..to further the general charitable works of the Roman Catholic Church both in the Diocese of Lancaster and elsewhere in the United Kingdom in particular, but not exclusively, by providing services and facilities for the relief of poverty and Suffering, the advancement of education, the promotion of social justice, and other charitable acts which promote the development of indNiduals and communities, for the benefit of people of all faiths and none. To this end the Charity's activities will be directed to children and young people without families able to care for them, children and Pa8e 2 of 32
Caritas Care Limited young persons in trouble or at risk, people with disabilitie5 and individuals, famllies, communities and groups who are in need. In orderto achieve the objects, the Charity delivers a range of services and engages in activities for the public benefit. The key strategies were to: provide familie5 and communities with chances, choices and opportunities to live the best lives theycan; secure a committed workforce with the right skills and abilities to deliver our strategy; improve outcomes for children, young people and adults; involve children, young people and adults in the design and evaluation of services: and work inclusively to remove barriers to accessing our services Following ourfounding ethos. we respond positively to the changing needs of our communities with projects and services that give better life chances to people of all ages and work in the best ways possible to: SUPPOrt children and families find families for children in care provide opportunities and support for people with disabilities combat social isolation The work of Caritas Care is embodied in its values: Friendliness- we believe in welcoming everyone with warmth and kindness. We want people to feel included and to create a sense of belonging. Foirness - we believe in equality and strive to be respectful in everything we do. We Ilsten to the needs of others and put them at the heart of our work. Integrity- we believe in being open and honest in all parts of our work. We support people from all walks of life and treat each person with dignity and acceptance. We believe in their value. Freedom to choose - we believe in empowering people to reach their full potential and to have happy, fulfilled Itfe. We provide opportunities so all families and communities can make their own choices and lead the lives that they want to. Coljaborotion - we believe by bringing communities together and by building relationships, we can create a brighter, happier future. Through working with our supporters and other organisations, we aim to make ourvision a reality. Significant actlvlties Caritas Care believes that wherever it is possible, a child should grow up in a stable and nurturing family environment, therefore, the charity provides thi5 Opportunity for children. unable to live within their birth families. through a range of placement optionsfrom respite fostercare to adoption. Caritas Care is a Voluntary Adoption Agency and Registered Independent Provider of Foster Care. Our independent specialist adoption service has been finding families for children and helping adopters on their journey to becoming parents for nearly 90 years. Our belief is that all children deserve a loving family and that all adopters should be supported at every stage of the adoption process. Adoption 15 a life-changing decision, which is why we have developed a full range of adoption Page 3 of 32
Caritas Care Limited support services and routes to adoption to give children the opportunity to enjoy family life and stability throughout their childhoods; these include: Seamless support throughout the adoption process and beyond. Skilled and experienced staff team. Specialist therapeutic support ser¥ices. Information and advice. Training and Support groups. Early permanence serrfice forvery young children. Foster carers provide care for children who, for many different reasons are unable to live with their birth families. Caritas Care believes that all children desenie the opportunity to experience life in a loving familyand that all children and fostercarers should be supported at every stage of the fostering journey. Our foster care service provides a full support programme includin8: Seamless SUPPOrt throughout the fostering process and beyond Specialist advice and information Skilled and experienced staff team Full tralning and support programme Children's groups Education sUPPOrt service Foster carers come from all walks of life. Each foster carer is unique, a5 15 every child who needs a foster family. Our foster carers share a desire to make a positive difference for the children placed with them for the duration of their stay, whether that be for a short period of time or longer term. In working with People with a Learnin8 Disability, Caritas Care is driven by its tradition and values to treat each person with dignity and respect. The Charity is committed to a person-centred approach and promotes choice, opportunities and independence through support, for people who have disabilities. The Charityoffersa variety of learning disability Se[ce5. Our Day Projects and Supported Living Services, based in Lancashire, offer wide rangin8 fun activities for people with learning needs of varying ages. We believe that people with all levels of disability should have opportunities to enjoy stimulating activities, and that their physical or health needs, however complex, should not be a barrier to them accessing new and exciting experiences. Set in the heart of the city of Preston. our project5 enable this by providing a fully accessible, safe and caring environment, which offers: A highly trained team of specialist support staff. Training and oversi8ht by a qualified nurse. A varied range of community, leisure and social activities. A person centred, tailored approach. Creative ways to enhance communication. Dance, sensory drama, art and music to encourage self-expression. Accessible minibuses for outings and day trips. Modern acce55ible equipment and facilities. Working closely with service user5 and their families, social care and health professionals, the Charity responds positively to the needs of every person who comes to us, whatever their disability or need. Through our Community Projects, Caritas Care helps to combat social isolation and disadvantage by providing support to people on the margins of society through our services at Plungington Community Centre. Vincent House provides accommodation in Blackpool and support to men and women who find themselves homeless. It is our belief, that everyone should have a home to call their own, and the chance to make positive changes in their lives, and so improve theiroutcomes. We provide emergency Page 4 of 3Z
Caritas Care Limited and supported accommodation with access to local networks and community organizations that provide advice, support and guidance needed to enable residents to regain their independence and take responsible steps towards integrating into the community. Plungington Community Centre is located in the University quarter of Preston just outside the city centre. The former school building, now the Community Centre, provides a range of activities, support and entertainment for people of all ages. We believe that everyone in the community should have local access to affordable activities aimed at improving physical and emotional health and wellbeing and reduce social isolation. The centre has a large hall. including a stage, and a number of smaller rooms, all available for hire by community groups. We work with a variety of local groups who provide a range of activities and opportunitie5 from our Community Centre. Volunteers are an intrinsic part of our service delivery across the Charity. Certain area5 and services are more dependent upon volunteers, whilst in otherareas the scope for volunteering is minimal and more specialist in nature. In our work with children, approved adopters and foster carers assist through their membership of the Adoption and Foster Care Panels. engagement in preparation training for new applicants. acting as mentorsto prospective adopters and foster carers. assisting with recruitment events and support group5. Learning Disability Services have attracted volunteers to support centre-based activities. However, the greatest number of volunteering opportunities are within our community activities and community centre where our work with unemployed people and ex-offenders is supported through volunteering and mentoring projects. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives, planning future activities and setting strategic plans. Achlevements and performance Over the last year, Caritas Care has continued to reach out and engage with children, families and adults to deliver the support they needed in what was a challenging year for many, given the cost of living crisis. We also remained GDPR compliant, embedded the Caldecott principles across the Charitv, further developed our IT and communication resources and maintained effective working relationships with our partners, commissioners and stakeholders. Our work in Adoptlon and Foster Care In 2023-24 we: Placed 18 children with families for Adoption through our mainstream Service. and a further 7 through our Concurrent Planning Service Looked after 51 children in Foster Care. Continued our partnership with Adoption Matters to offer early permanence for children through our Concurrent Planning Service, now the largest of its kind in England. Increased the creative use of social media in our recruitment activities Developed a Therapeutic intervention Service through which we delivered support to families approved as adopters and foster carers through Caritas Care. including supporting children with life story work and working with schools. Provided support for children referred to our services from Local Authorities Continued to work collaboratively with the established Regional Adoption Agencies IRAAS) in the North West, Cumbria and North East, (Adoption Now, Adoption Counts, Adoption in Merseyside, Together for Adoption. Adoption - Lancashire and Blackpool, Coast to Coast, Adopt North East and Adopt Tees Valley). Continued to adapt our working model by offering all of our servi5 to famllies. prospective foster carers and adopters remotely and virtually. Page 5 of 32
Caritas Care Limited In 2025 we will. continue to work alongside our partners in the public and voluntary sectors, developing innovative and excellent practice to find families for those children who wait the longest. In $0 doin& we will continue to assess, monitor and evaluate the significant challenges that the changing Adoption landscape presents. Our ambition is to: To achieve our target to place 17 children for adoption through our mainstream service and maintain our current levels of placement activity in Foster Care. To recruit families who are able to offer a home through adoption or foster care to children who waitthe longest for a family ie brothers and sisters. older children, children of mixed heritage and children with additional needs. To continue to work closely with our VAA partners, North West and North East RAAS and extend this Early Permanence placement option to children between the ages of 4 and 8 years. To continue to offer an excellent support service to all families approved through Caritas Care and for children referred to our services by the Local Authorities Recruit foster carers. Ensure the voices of children and families continue to inform the development of our services and practice both internally and externally. Continue to work collaboratively with our partner Regional Adoption Agencies in the North West, Cumbria and North East. Embed the changesfollowing the re-structure of ourchildren's Services to promote sustainability and financial stability Our work with people with dFsabilitles This year we have developed all aspects of our work with people who have a learning disability and in our day projects, maintained levels of actNity in terms of both numbers of sessions offered and people supported on a daily basis. In 2023-24 we: Provided stimulating day activities and excellent care for 30 people with profound disabilities in our FX project. Provided creative learning opportunities and activities for 96 people with more moderate learning disabilities in our VIP project. In our Supported Living service, we have supported 31 people in their own homes including 23 people across eight supported living houses. Leased our fully acSsIble caravan in Cumbria to provide holidays and respite for people with disabilities and their families. In 2024- 25 we will continue the growth in the delivery of our day projects to attract more people with both moderate and complex needs. and increase the number of people within our Supported Living services. Our ambition is to: Develop and extend our day project facilities. Secure new premises for our FX service. Meet the needs of more people referred via Transforming Care through our Supported Living service. Ensure the voices of people with learning disabilities continue to inform the development of our services and practice both internally and externally. Page 6 of 32
Carltas Care Limited Our work in the communlty This year we have continued our innovative and creative work with people in communitles, working to support people at times of difficulty in their lives, and particularly in recognition of the cost of living crisis. In 2023-24 we: Provided high quality support at Vincent House, our homeless hostel in B13ckpool, which has remained at virtually full occupancy throughout the year. Continued to offer the food bank at Plungington Community Centre for members of the local community. Secured Lottery funding to develop Plungington Community Centre as a local Well-being hub, which included registering as a 'Warm Space, and increased our'meet and Eav initiative, offering a free hot meal, emotional support and social engagement to members of the local community. Increased levels of activity at Plungington Community Centre. In 2024-25 wewill seekto secure the necessaryfundingto support our community work. Ourambition is to: Maintain the full range of activities and secure further funding to support the sustainability and development of well-being opportunities for local people at Plungsngton Community Centre. Ensure the voices of people in need within ourcommunities continue to inform the development of service delivery and practice both internally and externally, including those affected by trauma and loss, homelessness, mental ill health and old age. Develop a *mi-independentlmove on living offer to residents within Vincent House. FINANCIAL REVIEW Flnanclal posltlon The Charity incurred a surplus for the year of £413,549. The total retained reserves of the Charity at 31 March 2024 are £2,049,192. Flnanclal Summary 2024 2023 Incoming Resources Resources Expended Retained Surplus/lDeficitl 8,089,669 {7,676,120) 413,549 7,465,300 17,589,817) {124,5171 Funds Restrlcted Funds Unrestricted Funds: designated funds Unrestricted Funds: general funds 26,693 664,392 29,488 679,862 1.358,107 2,(149,192 926,293 1,635,643 The principal funding sources are fvlly detailed in the notes to the financial statements on page 23. Page 7 of 32
Caritas Care Limited Investment pollcy and objectives Under the Memorandum and Articles of Association, the Charity has the power to make any investment. which the Board of Management see fit and would do so in an ethically responsible manner. The Trustees, having regard to the liquidity requirements of the Charit5 services and the uncertainty within the social care sector, have kept available funds in an easy access interest-bearing deposit account. Since the start of the calendar year 2023, interest rates offered on short term deposit5 have ranged between 4% and 5%. The Trustees have therefore determined that excess funds should be invested in short term deposits, ranging from one to three month terms. The capital and interest is automatically reinvested. ReseThes Policy Reasons for Establishing a Reserves Pollcy Under the requirements of Charity Law. the Trustees are obliged to define the Charity's policy for holding reserves. The intention in establishing the reserves policy for Caritas Care is to secure the continuation of the Charity's artivities. The policy will: preserve the viability of the Charity; underwrlte existing services against periods of deficit; enable the Charity to meet its legal objects; pump prime developments of the Charity's Services; provide confidence to supporters and donors seeking to give financial support to a prudently controlled Charity. ensure that, consistent with the objectives, mission statement and values of Caritas Care, proper ethical consideration be afforded to all matters of investment; and ensure that the reserves are at a level sufficient to discharge all the Charity's obligations should the Charity cease its operations. Deslred Level of Reserves The Charity has a range of legal and moral responsibilities to purchasers of its services, to those who use its services, as well as contractual commitments to employees. In addition, Caritas Care has a broader responsibility to the communities within our area of benefit. To this end the Charity undertakes to: presepde a level of reserves that are neither restricted nor designated at not less than 15% of its annual expenditure; limit the level of reserves that are neither restricted nor designated to a figure of not more than 50% of its annual expenditure; establish a reserve designated to cover the possibility of redundancy of staff. Steps to Establish the Reserves Policy Historically the Charity has generated reserves. The Board, in discharging its duties under Charity and Company Law, considers the appropriate use to which such resenies should be applied. To maintain appropriate levels of SerVeS the Board has determined that: all legacies, which have no restriction placed upon them by the terms of their donation. are considered to be general resenies. the Finance Committee has delegated power5 to determine from time to time the split of income generated versus capital appreciation. capital commitments and expenditure plans are examined, and fund5 required to finance such may be removed from general reserves as necessary for the attainment of its broad objectives, Page 8 of 32
Caritas Care Limited funds may, from time to time, be designated for specific purposes. Monltorlng and Reviewing the Pollcy The Board has resolved that: day to day operational responsibility for the implementation of this policy be vested in the Chief Executive. delegated to the Director of Finance and HR; formal monitoring is undertaken on a quarterly basis by the Finance Committee as a delegated body of the Board of Management: and the policy is subject to at least one annual review by the Board and the members at the Annual General Meeting of the Company. FUTURE PLANS Impact Evaluation We have continued to monitor progress against the strategic objectives set out in our 2021- 2023 Strategic Plan utilising our Balanced Scorecard performance management system. This provides a visual overview of progress using a RAG (Red-Amber-Green) rating of the performance of all our services. This System involves the examination and analysi5 of qualitative and quantitative data across our Charity, to measure our service delivery and impact. Going forward we will continue to monitor performance in the following areas: Customer satisfaction Service delivery Staffing Finance Governance Annually, we revise and refine the Balanced Scorecard to ensure the data we collert and analyse evidences the quality and impact of our work. Our trustees monitor this, alongside a quarterly strategic review of our seNices. Our ambition Is to: Refine outcomes measures to better evidence the impact of our work. Develop a consistent and quality pipeline of prospective adopters and foster carers to meet the needs of the children referred to us for pIarnent. Continue to workwith the RAA'S to track the timeliness and appropriateness of matching children as early as possible with families. Work with commissioners of our Adult and Community Services to consolidate and develop our service offer in response to identified need. Deliver services in Communities to provide 5UPPOrt to enable people to live the best lives they can. Achieve financial stsbility through effective marketin8 and the provision of high quality services in response to local need. Plans and Challenges for 2024-25 A priority in the coming year, given the current economic climate, is to maintain the current level of income of the Charity in order to ensure the financial stability of the Charity going forward. However, the challenge will be to ensure that we do not compromise on delNering a quality servlce in any cost saving measures that we undertake. Page 9 of 32
Caritas Care Llmited We aim to finalise our new Strategic Plan for 2025 - 2027 and continue with our mission to create chances, choices and opportunities for as many people and communities in the North West region to live better lives. Next year (2024-2025) will see the implementation of a new Strategic Plan, which will be developed throughout this year {2024). The new strategic plan will be informed by a review and analysis of the impact of our existing offer and in consultation with our service users and beneficiaries, staff, stakeholders and trustees. Our current mission, vision and values will continue to be an integral component of our next strdtegic plan. Our Strategic Ambitions Our Strategy will continue to build upon our previous successes. It will contribute to our stability through maintaining high quality SUPPOrt and excellent service delivery. which benefits service users and commissioners of our services. The Strategy will provide a structure within which we can deliver our charitable object5, focussing our resources and energies on the activities which will best seNe our community and the people we support. in ways that recognise and respond to the current challenges facing social care and service providers. The Strategy prioritises: A responslve approach to demands for our servi5 Maintaining financial stability Commitment to our mission, vision and charitable object5 The provision of high quallty care and support Raislng awareness and measuring success In setting Out Caritas Care's Strategic ambitions, they are designed to promote sustainability, prioritise the needs of seniice users, and increase our visibility, skills and service quality. The ambitions reflect the unique contribution that Caritas Care makes as a social care provider in a volatile, unstable and competitive market, as we work to deliver our aspirations and build a better future for our service users. We aim to strengthen the Caritas Care 'familW, collaborate, consult, build trust, enhance our sustainability and extend our reach to offer more people the chances, cholces and opportunities to live the best lives that they can. Our Challenges in achievlng our strategic objertives are: To secure the long-term sustainability of the services currently delivered bycaritascare. OurGoal is to establish clarity in our service offer and have a clear focus on our core business. To maintain effective systems, processes and staffing structures to maximize our income generation. Our Goal is to operate a robust financial model and maintain a pro-active approach to managing finance, which will inform the strategic direction of the charwty. To ensure that our staff team understand their role and share the values of the charity in order to make our mission and vision a reality. Our Goal is to have a staff team who understand their role in supporting the strategic direction of the charity and how what they do on a day to day basis links to our mission and vision. To maintain our current Ofsted and CQC ratings and continue to strive for excellence across our services. Our Goal is to promote the quality and effectiveness of our seniices though the engagement and endorsement of service users; marking the charity as an excellent provider maintaining the highest standards in all our work, A chan8e in key personnel both internally and externally could compromise relationships. Our Goal is to maintain and strengthen our relationships with commissioners and be the 'go to, provider for all of our services. To maintain our place as a recognised and reputable provider of social care in a 'crowded marketplace, through a robust marketing strategy. Our Goal isto increase visibilityof Caritas Care Page 10 of 32
Caritas Care Llmited and the services we deliver across our geographical footprint to promote service user choice, reach more people and build our supporter base. Additionally, we need to ensure our Board of Trustees are compliant with the Charity Commission Governance code. STRucfuRE. GOVERNANCE AND MANAGEMENT Governlng document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Recrultment and appointment of new trustees The Trustees have responsibility for the strategic direction of the charity, ensuring that it is financially sound, well-run, and delivering the Charitable outcomes for the public benefit for which it was set up. Appointment to the Board of Management is by election of the members by simple majority. Appointment is for a maximum period of three years; there is no restriction on reappointment. One third of Trustees retire by rotation each year. The Board elects its Chair and Vice Chair from its members. The Board seeks to ensure a good mix of experience and expertise, including local government, finance, legal, human resources, marketing, education, health, commercial business, and experience relevant to the senlices the charity provides. When the need for recruitment is identified, vacancies are advertised and applicants are interviewed by a small panel of Trustees, which includes the Chair. and the CEO. Appointments are recommended to and confirmed by the full Board. All Trustee appointments are subject to a satisfactory enhanced disclosure check from the Disclosure and Barring Service and references. The Board of Trustees also appoints the Chief Executive Officer (CEO), who is accountable to the Trustees for the day-to-day operation of the charity, and for implementing strategy approved by the Trustees. The CEO is salaried and not a Trustee. No Trustee has any financial interest in or receives any remuneration for his or her services as a Trustee, but may be reimbursed for reasonable and necessary expenses. Or8anisatlonal structure A list of Trustees is shown on page 13. The Trustees of Caritas Care are collectively referred to as the Board of Management (Board) which is responsible for the strategic management of the Charity. The Board meets four times a year and a Finance Committee meets between Board meetings. The Charity's Health and Safety Group also meet quarterly or as required. The Trustees agree the strategic direction of the Charity and ensure that this is in accordance with its mission and ethos. Operatlonal management is delegated to the CEO who is supported by a senior leadership team (SLT). Each area of service and activity is managed by a service manager who report to the SLT. Various structures are in place to ensure cohesion across the Charity. The SLT generallv meets each week and a forum of key service managers meets every six weeks. This enables the Charity to be constantly learning and developing through the sharing of experience, development of procedures and the cascading of policy developments. Page 11 of 32
Caritas Care Limited The Trustees receive a comprehensive annual spending plan and budget for their scrutiny and adoption. All seNice developments are reported to the Trustees, plans are considered by the Board and costing implications examined by the Finance Committee. There is delegated spending authority approved through financial protocols, which set prudent limitations on all levels of management. These protocols are reviewed annually. Any deviations from budget occurring are reported to the Board of Management at the earliest opportunity. It Is at Board level that all decisions are made about the development of new services or activities. Indurtion and training of new trustees New Trustees undergo an induction process to brief them on their legal obligations under Charity and Company Law, the content of the Memorandum and Articles of Association, the ethos, vision, mission and values of Caritas Care. the recent financial perfomiance of the Charity and the financial projections. New Trustees are given an Induction Pack, which contains key Charity Commission guidance on their roles and responsibilities. During the induction process, new Trustees meet with key operational employees and have opportunities to visit projects and services. Where this is not possible virtual meetings are arranged to introduce new Trustees to service managers. The Trustees attend development and training events and are linked with servtces and projects where this may aid their appreciation and understanding of Caritas Care and facilitate their functioning as trustees. Bi-annual Trustee development days are arranged to consider the future direction and development of the Charity. Key management remuneration The salary of the senior staff is reviewed periodically by the Trustees. It is benchmarked against pay levels in other charities of a similar size operating within the sector. Risk management We have a robust approach to managing risk. A Business Continuity Plan is reviewed and presented to the Board annually and the Trustees at every Board meeting consider a Risk Register. A finance Risk Register is reviewed at each meeting of the Finance Committee and incorporated into the full risk register which is scrutinised by the Board. Senior members of the Charity's Staff sit on appropriate bodies, both to contribute to the development of our services and ensure that Trustees are furnished with relevant information to aid their discernment of planning, opportunity and risk. Much of the Charity's approach to risk is determined by a thorough appreciation of the environment in which the Charity operates, and by ensuring that appropriate, experienced and qualified members of staff are recruited and appropriately trained. Financial risks are managed through scrutiny of cash flow, monitoring practices, and the implementation of rigorous financial controls and procedures for the authorisation of all transactions and projects. Trustees receive information about the financial position of the Charity on a monthly basis. Risk associated with the employment of staff is minimised through a contract with external employment and legal advisers. This contract indemnifies the Charity against legal challenge where the Charity follows the explicit guidance of advisors. The Senior Leadership Team evaluates each service and project on a quarterly basis using the Balanced Scorecard performance monitoring system, where risks and assessment of delivery is considered. The results are then communicated to the Trustees at the following Board Meeting. Page 12 of 32
Caritas Care Limited The Charity's insurance arrangements are regularly reviewed, and opinion is sought whenever a new area of risk, such as a new project, is identified. A Health & Safety Group, drawn from the staff team and Trustees. audits the measures taken to secure the wellbeing of its staff, visitors and those who use Its services and premises; Caritas Care has an approved Health & Safety Policy. Trustees have all undertaken refresher safeguarding training. The Trustees. Appreciation The Tfustees express their appreciation of the work of our volunteers whose commitment and support have assisted the Charity to deliver its charitable objects during the course of 2023-24. Each year Caritas Care benefits from the generosity of the people of the North West who 5UPPOrt organised fundraising events and those who make individual donations and bequests. The Trustees appreciation, therefore, extends to our individual donors and funders who continue to show their confidence in the Charity through their support and encouragement to continually develop our serdice5. Finally. the Trustees extend their sincere thanks and appreciation to the staff whose professionalism, commitment and personal values have enabled the Charity to achieve so much in a climate, which continues to offer considerdble challenge. Through the commitment of our staff team and volunteers, Caritas Care has been able to make 3 positive difference to the lives of children and young people, families, adults who have disabilities, and those marginalised and vulnerable groups of people with whom we have worked through the year. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 1596400 Reglstered Charity number 326021 Registered office 218 Tulketh Road Ashton Preston Lancashire PR2 IES Trustees Angela Bowman Matthew Eddisford Michael Fetherstone Mary Leavy Stuart Lee Anne-marie Morgan Catherine Parkinson Tracy Woods Jo Higham Andrew Bennett Adam Roberts Resigned 22-6-23 Appointed 1-8-23 Appointed 31-10-23 Appointed 31-10-23 Page 13 of 32
Caritas Care Limited Company Secretsry & CEO Susan Swarbrick Audltors Wallwork Nelson & Johnson Registered Auditor Chandler House 7 Ferry Road Office Park Riversway Preston Lancashire PR2 2YH Solicitors Harrison Drury & Co Ltd 21 Castle Hill. Lancaster Morecrofts 2 Crown Buildings Liverpool Road Crosby Liverpool Jospeh A Jones & Co LLP. 6 Fenton Street Lancaster Medical Advlsor Dr G Hobbs C/0 218 Tulketh Road Ashton Preston Bankers HSBC Bank 35 Market Street Lancaster CAF Bank 25 King5 Hill Avenue West Malling Kent srATEMENT OF TRUSTEES. RESPONSIBIUTIES The Trustees {who are also the directors of Caritas Care Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kin8dom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law require5 the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Charity and of the incomin8 resources and Pa8e 14 of 32
Caritas Care Limited application of resources, including the income and expenditure. of the Charity for that period. In preparing those flnancial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; obsenie the methods and principles in the Charity SORP make judgements and estimates that are reasonable and prudent prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business The Trustees are responsible for keepin8 proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Charity and to 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. In so far as the Trustees are aware: there is no relevant audit information of which the charItS auditors are unaware; and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that infomiation. AUDITORS The auditors, Wallwork Nelson & Johnson, will be proposed for re-appointment at the forthcoming Annual General Meeting. Approved by order of the Board of Trustees on 14 August 2024 and signed on its behalf by: S. É S B Swarbrick- Secretary Page 15 of 32
Caritas Care Limited REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF CARITAS CARE LIMITED FOR THE YEAR ENDED 31 MARCH 2024 Opinion We have audited the financial statements of Caritas Care Limited (the 'Charitable Company,) for the year ended 31 March 2024, which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and Notes to the Financial Statements, includin8 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 (United Kingdom Generally Accepted Accounting Practice). In our oplnion the financial ststements: give a true and fair view of the state of the charitable coMpanS affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure for the year ended; have been properly prepared in accordance with the United Kin8dom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006 Basis for oplnlon 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 statement5 section of our report. We are independent of the 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 tn accordance with these requirements. We believe that the audit eviden we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to going concern In auditing the financial statements, we have concluded that the tru5tees' 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 charitsble 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 responsibllities of the Trustees with respect to Going Concern are described in the relevant sections of this report. Other Informatlon The trustees are responsible for the other infomiation. The other information comprises the information included in the annual report, other than the financial statements and our Report of the Independent Auditors thereon. Page 16 of 32
Caritas Care Limited Our opinion on the financial statements does not cover the other Infomiation and, except to the extent otherwise explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so. consider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwi* appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whetherthere is a material misstatement in the financial statements or a material misstatement of the other infomiation. 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. 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 Report of the Trustees is inconsistent in any material respect with the financial statements . or the Charity has not kept adequate accounting records; or the 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. ResponslbllEtles of Trustees As explained more fully in the Statement of Trustees. Responsibilities, 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 fairview. and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material mi5Statement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Charivs ability to continue as a going concern, disclosin& as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charitable Company or to cease operations, or have no realistic alternative but to do so. Our responsiblllties for the audit of the financial statements We have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulation5 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, whetherdue to fraud or error. and to issue a Report of the Independent Auditors 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 alway5 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. Page 17 of 32
Caritas Care Limited The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Enquiry of management and those charged with governance around actual and potential litigation and claims. Enquiry of entity stsff in tax and compliance funrtions to identify any instances of non-compliance with laws and regulations. Reviewing minutes of meetings of those charged with governance. Reviewing financial statement disclosures and testing to support documentation to assess compliance with applicable laws and regulations. Auditln8 the risk of management override of controls and evaluating the business rationale of significant transactions outside the normal course of business. 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 Report of the Independent Auditors. Use of our report This report is made solely to the Charitys Trustees, 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 CharitY'S trustees 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 a55ume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for our audit work, for this report, or forthe opinions we have formed. Wallwork Nelson & Johnson Registered Auditor Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Chandler House 7 Ferry Road Office Park Riversway Preston Lantashire Date: Page 18of32
Caritas Care Limited STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2024 311312024 311312023 Total Total Funds Funds Unrestricted Funds Restricted Funds Notes INCOME AND ENDOWMENTS FROM Operating Income Investment Income Total 7,972,980 43,337 8.016,317 73.352 8,046,332 43,337 8,089,669 7,450,094 15,206 7.465,300 73,352 EXPENDITURE ON Ralsln8 funds Charitable Actlvltles General Carltas Care Dancers Donatlons and Fundraising Bi8 Lottery Fund-ACE Blg Lottery Fund-PCC Community Grants Total 1,400 320 1.720 1,568 7,598,573 4,472 2,161 13,761 7,603,IJ45 2,161 13,761 7,536,398 21,467 7,027 3.597 19,760 7.589,817 32,132 23,301 76,147 32,132 23,301 7.676,120 7,599,973 NEf (EXPENDITUREI/INCOME 416.344 (2,795) 413,549 1124,517 RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 1,606.155 2,022,499 29,488 26,693 1,635,643 2,049,192 1,760,160 1.635,643 Page 19 of 32
Caritas Care Limited BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 Notes 2024 2023 FIXED ASSErs Tangible Assets Investments Investment Property li 399N26 340,198 12 174,000 573,426 174,000 514,198 CURRENT ASSErs Debtors Cash at Bank 13 831,126 1,573,690 2A04,816 897,223 980,285 1,877.508 CREDITORS Amounts falling due within one year 14 1929,0501 (756,063) NEf CURRENT ASSErs 1,475,766 1.121,445 TOTAL ASSETS LESS CURRENT UABIUTIES /NEf ASSErs 2,049.192 1,635,643 FUNDS Unrestricted funds Restricted funds 15 022.499 26,693 1,606,155 29,488 TOTAL FUNDS 2.049.192 1,635,643 The Charity is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The rnembers have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements. The Trustees acknowledge their responsibilities for a. Ensuring that the Charity keeps accounting records that compty with Sections 386 and 387 of the Companies Act 2006 and b. Preparing financial statements which give a true and fair view of the State of affairs of the Charitable Company a5 at the end of each financial year and of its surplus or deficit for each financial year in accordan with the requirements of Section5 394 and 395 and which otherwise comply with the requirements of the Companies Act 216 relating to financial statements, so far as applicable to the Charity. These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011. These financial statements have been prepared in accordance with the special provisions of part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the Charitable Company. The financial statements were approved by the Board of Trustees on 14 August 2024 and were signed on its be by: Trustee C<4TltfQi pIE frf k I . Page 20 of 32
Caritas Care Limited CASHFLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operatln8 actlvities Cash generated from operations Net cash provided (used In) by operating activities 663,447 {233.729) 663,447 {233,729} Cash flows from investing Actlvities Purchase of tangible assets Sale Of tangible assets Investment Income received Net cash provided lused In) by Inve5tin8 artivltles (109.739) 10,383 29,314 17,4921 3.635 2,640 170.042 {1,217) Change In cash and cash equivalents In the reportlng perfod 593fv05 1234,946) Cash and tash equlvalents at the be8lnnin8 of the reporting perfod 980,285 1,215,231 Cash and cash equlvalents at the end of the reporting perfod 1,573,690 980,285 NOTES ON THE CASH FLOW STATEMENT RECONCIUATION OF NET (EXPENDITURE)/INCOME TO NEf CASHFLOW FROM OPERATING ACTIVITIES 2024 2023 Net Income/(Expenditure) for the reportin8 perlod las per the statement of flnanclal activities) 413,549 1124,517} Adjustment for: Depreciation Charges Investment income received Decrease/llncreasel in debtors Increasel(Decreasel In creditor5 40,128 (29,314) 66,097 172,987 23,892 (2,640) (38,717} (91,747) Net cash provlded {used In) by operatln8 artlvitles 663A47 1233.729} ANALYSIS OF CHANGES IN NEf FUNDS At 114123 Cashflow At 3113124 Net Cash Cash at Bank 980,285 593,405 1,573,690 Page 21 of 32
Caritas Care Limited NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLiaES Basis of preparing the financlal sLatements The financial statements of the Charitable Company, which 15 a public benefit entity under FRS 102, 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 l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value. Income All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the funds. it is probable that the income will be received. and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as 500n as there is a legal or constructive obligation committing the Charity to that expenditure, it is pmbable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property Improvements to property Fixtures and fittings Motor vehicles Computer equipment not provided - 20% on cost - 25% on cost 25% on reducing balance 33% on reducing balance The policy of not providing depreciation on all freehold buildings is a departure from the Companies Act 2006 and FRS15 paragraph 84 but is necessary to give a true and fairview. It is the Charity's policy to maintain buildings to such a standard, and their residual values are such that depreciation is not significant, consequently certain freehold buildings are not depreciated. Investment property Investment property is shown at m05t recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve. Taxatlon The charity is exempt from corporation tax on its charitable activities. Pa8e 22 of 32
Caritas Care Limited Fund Accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Penslon Contributions Caritas Care is an admitted body to Lancashire County Pension Scheme. This scheme 15 a multi- employer defined benefit scheme, which is funded by contributions from employee5 and employers. Members of the Pension scheme may also contribute added year5 to the scheme ortake out an additional voluntary contribution scheme, each of which is funded by the employee alone. New and existing staff who are not members of the Local Government Pension Scheme (LGPS) are automatically admitted to the Peoples Pension auto enrolment scheme, unless they exercise their right to opt out of the scheme. The CountyTreasurer's Department of Lancashire County Council administers the LGPS scheme after taking advice from the scheme's actuaries William M Mercer. It is managed in accordance with the Local Government Pension Scheme Regulations 1997, (as amended). Past and present employees are covered by the provisions of the Scheme. The Trustees are unable to confirm the Charit(s share of the underlying assets and liabilities of the Lanca5hire County Pension scheme and therefore the Scheme is accounted for a5 a defined contribution scheme. This treatment is permissible under FRS 102, under the provisions of multi- employer schemes. The LGPS provides that in the event that a single employer has individuals contributing to the scheme then any remaining liability for benefits payable under the scheme fall on that employer. Since the main participating employers are statutory bodies the Trustees consider it highly improbable that such a liability will ever fall to the Charity. OPERATING INCOME 2024 2023 Grants and Fees 8,046,332 7,450.094 8,046,332 7,450,094 Grants and fees received. included in the above are as follows: 2024 2023 Big Lottery Fund-ACE Project Big Lottery Fund-PCC Donations and Fundraising Grants & Fees Communlty Grants 7,027 3,597 21,467 7,398,243 19,760 32,132 22,689 7,966,210 25.301 Total cash and cash equlvalents 846,332 7,450,094 Page 23 of 32
Caritas Care Limited INVEsfMENT INCOME 2024 2023 Rental Income Investment Income 14,023 29,314 12,566 2,640 43,337 15,206 RAISING FUNDS 2024 2023 Ralslng donatlons and legacies Fundralsing costs 1.720 1.568 1,720 1,568 CHARITABLE AcfiviTIES COSTS 2024 2023 General Donations and Fundraising Big Lottery Fund - ACE Project Big Lottery Fund-PCC Community Grants 7,603,045 15.922 7.536,398 21.467 7,027 3.597 19.760 32,132 23.301 7.674AOO 7,588,249 NET INCOME/(EXPENDITURE) 2024 2023 Net Incomel(Expendfture) Is stated after chargln81{credltln8): Depreciation-owned assets Profit on disposal of assets Loss on dlsposal of assets 140,128) 10,198 (2,037) {23,8921 13,635) TRUSTEES, REMUNERATION. BENEFITS AND EXPENSES There were no Trustees, remuneration or other benefits for the year ended 31 March 2024 norfor the year ended 31 March 2023. There were no Trustee's expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. Legal fees of £4,000 were accrued in 2023-24 in respect of legal costs relating to the preparation of the lease on Bannister House. £788 was charged in 2022-23 regard to the ending of the lease at Finkle Street. These fees relate to Harrison Drury, the firm of Solicitors where Michael Fetherstone is a consultant. They were incurred after Michael Fetherstone became a Trustee of the Charity. Mr Fetherstone did not act on behalf of the Charity in respect of these commissions. Page 24 of 32
Caritas Care Limited STAFF cosrs 2024 2023 Wages and Salaries Social Security Costs Pension Costs 4.157,845 341.250 355,441 4,854,536 3,989,568 344,207 351,456 4,685,231 The average monthly number of employees during the year was as follows: 2024 140 14 154 2023 134 12 146 Dirert Charity workers Management and administration The number of employees whose employee benefits (excluding employer pension costsl exceeded £60,(X)O was: 2024 2023 £60JK)1- £70,0(KI £70.001- £80,000 In addition, the Charity benefitted from the service of over 30 Volunteers. No remuneration was pald to these individuals. COMPARATIVES FOR THE STATEMENT OF FINANaAL AcllviTIES 2023 Totsl Funds Unrestricted Funds Restrirted Funds Notes INCOME AND ENDOWMENTS FROM Operatin8 Income Inve5trnent Income Total 7,398,243 15,206 7.413,449 51,851 7.450,094 15,206 7,465,300 51,851 EXPENDrruRE ON Raislng funds Charitable Artlvltles General Donatlons and Fundraising Big Lottery Fund-ACE Project Bl8 Lottery Fund-PCC Community Grants Total 1,568 1,568 7,527,769 8,629 21,467 7.027 3,597 19,760 60,480 7,536,398 21,467 7,027 3,597 19,760 7,589,817 7,529,337 NEf INCOME (115,8881 {8,6291 {124,517} RECONCIUATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 1,722,043 1,606,155 38,117 29,488 1.760,160 1,635,643 Page 25 of32
Caritas Care Limited 10 PENSION Caritas Care is an admitted body to Lancashire County Pension Scheme. This scheme is a multi- employer defined benefit scheme. Contributions are charged in the Statement of Financial Activities as they accrue. The contributions not paid over to the scheme administrator at the year-end were £26,025 and are included In creditors. The most recent tr*ennial review of the scheme was undertaken in 2022-23 and as a result the Charity's employer contributions to the scheme have been revised to 23.3% . There is no longer a requirement to pay additional sum5 in respect of past members as the scheme was fully funded at the point of the triennial review. Staff not members of the local government pension scheme were admitted to the Peoples Pension auto enrolment scheme. The Charity makes a contribution of 3% for all members of this scheme except where the employee was previously a member of the stakeholder scheme or where the member of staff would have been admitted to the stakeholder scheme. In these instances, an 8% employer's contribution is made. The value of contributions not paid over to the scheme administrator at the year-end was £11,642 and is included in creditors. The total employer contributions made forthe accounting period are treated as an expense and were £355.441 {2023 £351,456). li TANGIBLE FIXED ASSErs Freehold Property Improvements Fixtures to Property and Flttln8S C05r At l Aprll 2023 Additions Disposals At 31 March 2024 287,992 333,111 92,705 {16,3041 409,512 99,779 2,070 {15,0941 86,755 287,992 DEPRECIATION At l April 2023 Charge for the year Eliminated on Dlsposal At 31 March 2024 312,391 24,523 18,9581 327,956 92,416 5,275 {15,094) 82,597 NEf BOOK VALUE At 31 March 2024 At 31 March 2023 287,992 287.992 81,556 20,720 4.158 7,363 Pa8e 26 of 32
Caritas Care Limited Motor Vehlcles Computer Equlpment Totals cosr At l April 2023 Additions Disposals At 31 March 2024 40.559 6,796 17,200} 40,155 51,195 8,168 812,636 109,739 138.598) 883,777 59.362 DEPRECIATION At l April 2023 Charge for the year Eliminated on Disposal At 31 March 2024 27,577 4,185 (4,163) 27,599 40,054 6,145 472,438 40,128 (28,215} 484360 46,199 NEf BOOK VALUE At 31 March 2024 At 31 March 2023 12,556 12,982 13,164 11.141 399N26 340,198 In March 2011. Vincent House. 61 Furness Avenue, Blackpool was transferred to Caritas Care when it assumed responsibility for the work of the Charity 'Homeless in Blackpool,. This property has been valued in 2006, by Michael Cuddy, Associates at £250,000. The valuation prepared by HDAK in April 2013 was £215,CM)O. 12 INVEsfMENT PROPERTY FAIR VALUE At l April 2023 Dlsposals At 31 March 2024 174,000 174.000 NEf BOOK VALIE At 31 March 2024 At 31 March 2023 174.000 174,000 18 Belvedere Road was transferred to Caritas Care when the Charitable Company took responsibility for the operations of Homeless in Blackpool on 14 March 2011. An estimate of the sale value of this propertyobtained (May2023} from Zoopla property portal website is£191,0(XJ based on the valuation of similar properties in the area. Given the fluctuations in the property market and modernisation. which would be required, the value of this property is recorded in the financial statements at £IIO,O(MJ, its value at the date of transfer. In 2016- 2017 it was decided that the office owned by the Charity at 2 Rodney Street, Barrow, which is a terrace house. should be refurbished and offered as a rental property. This property. which is now tenanted, has been reclassified as an investment property and has been revalued accordingly. In 2017 the property was valued by Duxbury's at £64,OIX). A recent property search on Zoopla, indicated that the value of the property is now in the region of £74,000. Again given the fluctuations in the market, to be cautious the property has not be restated at this increased value. Page 27 of32
Caritas Care Limited 13 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade Debtors Prepayments 775,945 55.181 831,126 841,627 55,596 897.223 14 CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR ZOZ4 2023 Trade Creditors Social Security and other tsxes other Creditors Accruals and Deferred Income 492,912 89,257 167,217 179,664 929,050 384,941 108,086 154.912 108,124 756.063 Deferred Income Balance as at l April 2023 Amounts Deferred in the year Amounts Released in the year Balance as at 31 Mar¢h 2024 108,124 96,175 124,635) 179,664 15 MOVEMENT IN FUNDS 2023 Movement In funds Transfers Between funds 2024 Unrestricted Funds General Fund Redundancy Reserve ICT Reserve Property Maintenance Reserve 926,293 612,706 26,IXJO 41,156 1.606.155 416.344 15,470 115,470} 1.358.107 597,236 26.000 41.156 2,022N99 416,344 Restrirted Funds Donations and Fundraising Legacies LDS Vehicles Other Community Grants 6,261 13.651 8,576 1,000 29,488 1,677 7,938 13.651 4,104 1.000 26,693 {4,472) {2,7951 TOTAL FUNDS 1,635,643 413,549 2,049,192 Page 28of 32
Caritas Care Limited Net movement in funds, Included in the alx)ve, are as follows: Incomin8 Resources Resources Expended Galns and Movement Losses In Funds Unrestrlcted Funds General Fund 8,016,317 (7,599,973) 416,344 Restrlcted Funds Donatlons and Fundraisin8 Caritas Care Dancers Bl8 Lottery Fund PCC LDS Vehicles Other Community Grants 13,812 4,107 32,132 114,081) {2,161) (32,132) {4,472) (23,301) 176,147) 1269) (4,472) 23,301 73,352 (2,795) TOTAL FUNDS 8,089,669 17.676,120) 413.S49 Comparatives for movement in funds At Movement 11412022 In funds Transfers 311312023 Between funds Unrestrirted Funds General Fund Redundancy Reserve Icr Reserve Property Maintenance Reserve 1,055,066 599,821 26,000 41,156 1,722,043 1115,8881 112,8851 12,885 926.293 612,706 26,¢J)O 41,156 1,606,155 (115,8881 Restrlcted Funds Donations and Fundraisin8 Legacles Training Grants LDS Vehicles other Community Grants 6,261 13,651 2,250 14,955 1,000 38,117 6,261 13,651 12,250) 16,379) 8,576 8,629) 29A88 TOTAL FUNDS 1,760.160 1124,5171 1.635,643 Pa8e 29 of 32
Caritas Care Limited 15 MOVEMENT IN FUNDS contlnued Comparative net movement in funds, Included in the above are as follows: Resources Galns and Movement Expended Losses In Funds Incoming Resources Unre5trlcted Funds General Fund 7,413,449 17,529,337) 1115A88) Restrlcted Funds Donations and Fundraising Training Grants Big Lottery Fund ACE Projert LDS Vehicles Big Lottery Fund PCC Other Community Grants 21,467 (21,467) 12.250) 17,027} 16,3791 13,5971 119.7601 160,4801 {2,250) 7,027 16.379) 3.597 19,760 51,851 (8,6291 TOTAL FUNDS 7,465,300 {7,589,8171 {124,517) A current year 12 months and prior year 12 months combined position is 35 follows: Transfers 311312024 Between funds At Movement 412022 in funds Unrestrirted Funds General Fund Redundancy Reserve Icr Reserve Property Maintenance Reserve 1,055,066 599,821 26,000 41,156 300,456 2,585 12,5851 1,358,107 597,236 26,000 41,156 1,722,043 300,456 2.022.499 Restrlcted Funds Donations and Fundraising Legacles Training Grants LDS Vehicles Other Community Grants 6,261 13,651 2,250 14,955 1.000 38,117 1,677 7,938 13,651 12,2501 110,8511 4.104 1,000 26,693 111,4241 TOTAL FUNDS 1,760,160 289,032 2,049,192 Page 30 of 32
Caritas Care Limited 15 MOVEMENT IN FUNDS continued A current year 12 months and prlor year 12 months cornblned net movement in funds. Included in the above are as follows: Incoming Resources Resources Galns and Movement Expended In Funds Unrestrlcted Funds General Fund 15,429,766 115,129,310) 31KJ.456 Restrlcted Funds Donations and Fundraising Training Grants Caritas Care Dancers Big Lottery Fund ACE Project Big Lottery Fund PCC LDS Vehicle5 Other Community Grants 35,279 135,548) 12,250) 12.1611 17,0271 (35.729) (10,8511 143.0611 1136,6271 [269) 12.250) 4.107 7,027 35.729 110,851) 43,061 125,203 111,424) TOTAL FUNDS 15,554,969 (15,26S,9371 289.032 The Redundancy Reserve is an amount designated by the Trustees. The value of the reserve represents the minimum value of resenies required to meet the Charity's obligations to pay redundancy should the Charity cease to operate. The value of this reserve is calculated annually at 31 March and any additional designations or reductions in the fund are reflected in the Financial Statements. The Trustees considered the ongoing operational requirement to invest in the maintenance and capacity of the Charity's buildings and information technology. The Trustees have determined that designated reserrfe should be established to set aside funds for property maintenance and improvement. There have been no additional designations made to these reserves in the year, nor have any of the funds been expended. 16 CAPITAL COMMIThMENTS The Charity did not have any capital commitments at the end of the year {2023 £nil) 17 RELATED PARTY TRANSAcfioNS Legal fees of £4,OIXI were accrued in 2023-24 in respect of legal costs relating to the preparation of the lease on Bannister House. £788 was charged in 2022-23 regard to the ending of the lease at Finkle Street. These fees relate to Harrison Drury. the firm of Solicitors where Michael Fetherstone is a consultant. They were incurred after Michael Fetherstone became a Trustee of the Charity. Mr Fether5tone did not act on behalf of the Charity in respect of these commissions. There were no other related party transactions for the year ended 31 March 2024 (2023 £nll 18 POST BALANCE SHEET EVENTS There were no post balance sheet events for 2023-24 or 2022-23. Page 31 of32
Caritas Care Limited DETAILED STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2024 311312024 3V312023 INCOME AND ENDOWMENTS Donations and Legacles Grants and donations 8,046,332 7,450,094 Investment Income Rental Income Other Investment Income 14,023 29A14 43,337 12,566 15,206 Total Incoming Resources 8,089,669 7.465,300 EXPENDITURE ON Ralslng Donatlons and Legacies Fund Raising costs Charitable Activities Direct Charitable Activitie5 1,720 1.568 7,674,400 7,588,249 Total Resources Expended 7.676.120 7,589,817 Net Income/(Expendlture) 413,549 1124,517) Page 32 of 32