ORCHARD VALE TRUST LIMITED COMPANY NUM8ER.. 1946592 REPORT AND FINANCW5TATEMENTS FOR THE YEAR ENDED 31S1JAt4UARY2024 ORCHARD VALE TRUST LIMITED COMPANY NUMBER: 1946592 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31STJANUARY 2024
ORCHARD VALE TRUST LIMITED COMPANY NUMBER.. 1946592 REPORT AND FINANCIALSTATEMEPITS FOR THE YEAR ENDED 315TJANUARY 2024 Reference and Administrative Inforniation Name- Orchard Vale Trust Company House Registration Number 1946592 Charity Commissioners Registration Number- 326940 Date of Incorporation- Ilth September 1985 Type of company- Company Limited by Guarantee and not having a share capital The Trustees during the year were: Christopher Absolon Rosemary Parr Kate Steele Adrian Lumley-smith Hannah Allan Peter Crump Joanna Sudell Martha Venner Tony Mullins John Fox James Lawson 'Rosemary Parr resigned from the Board of Trustees on 7th October 2023 and this was the last meetin8 of the Board of Trustees that she attended. ** James Lawson was co-opted to the Board of Trustees on 27th January 2024 and this was the date of the first meeting on the Board of Trustees that he attended. All the Members of the Board of Trustees above were also Members of the Board of Trustees at the date that this Report and Accounts were approved other than Rosemary Parr who resigned on 7th October 2023. Chief Executlve: Ms Liz Page, East Court, Wookey, Wells, Somerset BA5 IAR Registered Office.. East Court, Wookey, Wells, somerset BA5 IAR Telephone No. 01749 671706 Bankers: Natwest PLC, 7 High Street, Wells Somerset, BA5 2AD Solicitors: Mo8ers Drewett, 24 Queens Square, Bath BAI 2HY Auditors: Knight Goodhead Ltd., 7 Bournemouth Road, Chandlers Ford, Eastleigh, 5053 3DA io. ii. Governance of the Chari The Charity is constituted as a Company Limited by Guarantee, therefore it is governed by its Articles of Association. The current Articles of Association were approved by the Charity Commission and subsequently adopted by the Trust in January 2015. Further minor amendments were adopted by the Trust at an EGM on 19th March 2016; again following notification and approval from the Charity Commission. No further amendments have taken place or are planned at present.
ORCHARD VALE TRUST LIMITED COMPAIN NUMBER.. 1946592 REPORT AND FINANcIALSTATENTS FOR THE YEAR E14tXD31"JANUARY2024 The Directors of the Company are also Trustees of the Charity. For the purpose of Charity Law, their responsibilities include all the responsibilities of Directors under the Companies Acts and of Trustees under Charity Law and under the CompanWs Act are know as members of the Board. At the Annual General Meeting one third of the Trustees retire on rotation but are eligible for reappointment. The Trustees of the Charity meet a minimum of fourtimes each year. At these meetings they set the strategic direction of the Trust, and review and manage key risks. The Trust has a Senior Management Team which is chaired by the Chief Executive and includes the Operations Manager, Home and Service Managers and is advised by the Finance Manager. There are terms of reference for the Senior Management Team which set out their powers and their accountability to the Board of Trustees. The Senior Management Team meet monthly. The Trustees present theirAnnual Report and Accounts forthe year ended 31, January 2024. The board of Trustees are satisfied with the performance of the Charity during the year and the position at 31st January 2024. They consider the Charity is in a satisfactory situation to continue its activities throughout the forthcoming year, and that the Charity's assets are adequate to fulfil it5 obligations. Orchard Vale Social Enter rises CIC The Charity has a subsidiary company, Orchard Vale Social Enterprises CIC, which is community interest company owned entirely by Orchard Vale Trust, Ob'ectives and Activities of the Chari The Charity is a non-profit making company incorporated on Ilth September 1985, limited by guarantee and having no capital share. It was registered as a chartty in September 1985. The purpose of the charity is to provide care to those people with a learning disability who need a level of support which might not otherwise be available to them in the family home and to further assist them to pursue a more independent lifestyle. The majority of this care is provided in residential homes, in addition the Trust has a Community and Day service which Is accessed by adults with learning disabilities who are not residents. Since 1985, the Charity has opened 4 residential homes in the Somerset area. This development has been a gradual response to the demand for places. the changing needs of its residents, and the resources available to the Charity to purchase property suitable to tts purpose. The Charity currently provides accommodation and support for 32 people. In addition, the Trust continues to develop a programme of activities and support to other individuals that do not live in the Trust's accommodation that reside in its local area. When places become available these are open to anyone with a learning disability whose care needs can be met by the seNice. All the Trust's current residents are in receipt of financial support from their Local Authority in orderto meet the fees charged by the
ORCHARD VA TRUST LIKgITEO COMPANY NUMBER.. 1946592 REPORT AND FINANCIAL STATEMENTS FOR THEYEAR ENOED31-JMUARY 2024 Charity. The level of residential fees is negotiated with the Local authorrty using their Costing model, thereby ensuring that the fee charged is appropriate to the needs of the individual and is value for money. Currently our service is provided to residents from 16 different Local Authorities throughout England and Wales. Day service users are funded in different ways includingfrom their own individual resources and from Local Authority Direct Payment schemes. Skilled staff teams are employed at each home to assist and enable residents to live a fulfilled life. All residents have their own personal care plan which aims to maximise thelr physical. intellectual and social potential. Educational, work and leisure opportunities are provided in the local community. The homes are subject to regular inspections by the regulator for care homes, the Care Quality Commission and the local authority where the home is situated. Historically, people with a learning disability were viewed by society as a minority group who had little or no rights to full citizenship. They were thought incapable of achieving anv measure of self-dependency as even the most personal of tasks were done for them by their carers, usually within a large institutional setting. Since 1985 Orchard Vale Trust has striven to extend the rights of people with learning disabilities through practical involvement within local community settings. The focus of our workfor greater social integration has been achieved through the setting up of residential homes in local communities and establishing a Community and Day Service. Daily contact between members of the local community and the residents gradually breaks down society's stereotyped images of how a person with a learning disability might behave. We believe people with learning disabilities are f ull and participative members of our society with the same rights as all of us. During 2023 the Trust has focused on delivering its seprfices both residential care and in the community within the context of the Coronavirus pandemic coming to an end. The Trust focused its attention on ensuring that there were appropriate resources to ensure that the individuals supported in the Trust, in both residential and community services, were able to engage with a wider range of activities and en8a8e fully with the communities in which they lived as this had been impacted by the government guidance in response to the Covid-19 pandemic which came to an end in 2022. The Trustees held an extended development day in October 2023 to review the existing strategy for the organisation and revise in accordance wlth the ever-changing needs of the individuals that are supported. The Trust keeps its overall staffing levels under continuous review and the recruitment challenges that were encountered during the Coronavirus Pandemic lessened and during 2023 staffing levels across the Trust stabilised. The Trust continues to make use of dedicated, regular agency staff to ensure that individuals are being supported by staff who have a good understanding of their individual needs and the processes within each service. In 2023 the Trust continued with its programme of maintaining and upgrading its physical facilities. The fire doors in Ferndale, St Chads and East Court were replaced, the external windows and doors at East Court were restored and painted and outside work was undertaken to develop the garden5 and outside space at East Court. St Chads and Ferndale. The Trust continues to successfully provide the Care Certificate and all new staff are required to undertake this as mandatory training. Specialist training is given in a number of
ORCHARDVALE TRUST LIMITED COMPANY NUMBER.. 1946592 REPORT AND FINANCIALsfATEKNTS FOR THE YEAR ENt%D31STJANUARY 2024 areas including, but not limited to, the administration of medication, infection control, COSHH, Specialist epilepsy training, dysphagia, lone working and speech and language. All four homes are regularly inspected by CQC and it is possible to access the individual reports via our website. In 2023 of the 4 residential care homes were inspected by CQC, East Court, St Chads and Ferndale and all four homes continue to be rated Good and it is pleasing to see a significant number of very positive comments from Inspectors. The Communtty and Day Services, known as the Hive, returned to the East Court site In Wookey in March 2023. Community and Day Services continue to offer to offer a wide range of activities Stile Gardening continues to offer gardening services in the local community and has moved to a sustainable financial mode as its 3 year grant funding has come to an end. In July 2023 the Trust were successful in gaining a grant from Dr Martens to develop the vegetable garden so that it could increase the range of produce grown and supply the loca5 foodbank in addition to the services within the Trust. As a result of this project a gardener who originally trained with Stile Gardening services was employed for 16 hours a week. There is a rigorous Quality Assurance programme wlthin the Trust which is regularly reviewed by the Chief Executive. The Trust maintains its vehicle fleet, ensuring that there are a range of vehicles which meet the changing needs of service users. The Trust during the financial accounting period there have been no changes to the resident population and the Trust remalns at full occupanry. The Trust does not hold a waiting list. Trustees have met regularly during the year and have overseen the work of the Trust, ensurin8 Its financia viability. Publlc Benefit The Trustees give due regard to the public benefit guidance set out by the Charity Commission and believe that the Charity meets it obligation in this respect because: Its purpose Is the relief of those in need by reason of their disability: The benefit provided is to that section of the public who are people with learning disabilities. Those who use our service benefit because they receive high quality care and support which enable them to gain access to the facilities available to any citizen; When available residential places and day service places are open to all adults with a learning disability, providing their needs can be met within the service provided; The fees charged are reasonable and necessary for the Charity to fulfil it aims and are agreed with Local Authorities and other funders who are Purchasers of the service. The fees charged for residential care are direttly related to the level of support provided to meet the needs of the individual service users and are not dependent upon their ability to pay. No financial contribution is required from residents other than the contributions which are set out in the rules relating to residential care provision or the State benefit rules; There is no third-party funding forthe residential services provided;
ORCHARDVALE TRUST LIMITED COMPANY NUMBER.. 1946592 REPORT ANL>FINANCIALSTATEMEMIS FOR THE YEAR ÉWtKD 31-JANUARY2024 Day care services are charged in a transparent rate depending on the service needed. The charges are aligned with the amount the local authority provides to local families to purchase such care and support. The Trustees will continue to review the activities of the Charty to ensure that these are consistent with the legal objects set out in its constttution. Fund Raisin Activities and Revenue The Charity complies and is consistent with the Chartty Commission's guidance on fundraising activities. Orchard Vale Trust is a member of the Fundraising Regulator, which is an independent self regulatory organisation. As a member, we are committed to the highest standards in fundraislng. We follow the Fundraising Regulatorfs Code of Fundraising Practice. This code sets the standards for fundraising activity throughout the UK, and we use the Fundralslng Regulator badge to publicly show that we are following these standards. In addition. our approach to responsible fundraising is driven by these five key principles, also laid out in our Fundraising Promise:_ We are honest and open - We are clear and transparent - We are respectful and value our supporters- We work in partnership with those who support us- We are accountable The Charity raises fu nds in accordance with its Fundraising Policy, principles and associated procedures, and adhering to data protection policy and procedures which comply with relevant UK laws and regulations, including those related to privacy. The Charity respects supporter's privacy and right to decide how and if Orchard Vale Trust contacts them. The Charity seeks to treat all people equally and fairly and have a clear procedure in place for how we en8a8e with supporters who may be in vulnerable circumstances. By sharing honest and powerful stories, we en8a8e and inspire supporters to support Orchard Vale Trust's mission to support adults with learning disabilities to live lrfe to the full. Our primary concern is to respect the wishes, dignity and security of the people we support, therefore will only ever share stories for which we have had prior consent. Whilst basic care and accommodation costs are funded by Local Authority contracts, the Charity relies on donation and fund-raising projects to finance the provision of the extra quality of service for which the Charity is well known. The Trust Fundraiser has responsibility for the management of regular fund-raising projects such as the Gold Bond runners in the London Marathon; one sponsored Golf Day and the restricted funds income through applications for grants for specific projects, particularly in relation to the development of Community and Day Services. The Trust Board approve the Fundraising Strategy on an annual basis and the Trust conducts an annual fundraising audit to ensure that activities are both compliant and transparent. The arrangements for administering the London Marathon are managed by an organisation which specialises in recruiting runners. The process for the year ending 3151 January 2024 did not differ from previous years when the marathon has run. After costs the amount raised was £7,609.00
ORCHARD VALE TRUST LIMITED COMPANY NUMBER.. 1946592 REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENtED31Y JANUARY 2024 The Trust successfully submitted a grant to Dr Martens to develop the vegetable garden and received £15,000. The Trust was nominated as the Wells Golf Club Captain's Charity of the Year and they raised a total of £8,500. An individual fundraising walk by Ben Lumley-smith has enabled the Trust to purchase defibrillators for the residential services. The Trust was able to hold its regular fundraising activities and this included the Toby Charnaud Memorial Golf Day which was held in June 2023. However, the Trust is grateful for the generous support and donations from charitable trusts and individuals which include- Dr Martens. Wells Golf Club, The Blair Foundation, Mendip District Council, The Gilbert Edgar Trust, the Estate of Tess Gray, Norman Holden, Ben Lumley-smith, Kevin Hammett and the Glastonbury Festival. Fund Ralsln Activities- Ca ital Any major building irnprovement or a new home or service site requires considerable capital funding. This is raised in the main part by funds from the Trust's activities and appeals to Grant Making Trusts. ment Policies The Charity is an equal opportunities employer and is fully commttted to a policy of treating all of its existing employees and job applicants equally. A group of Senior Managers and staff meet on a regularly to continue to develop an inclusive, equal opportunities culture, The Trust has recently reviewed its existing terms and conditions of employments to ensure that they remain current and appropriate. This work was completed with the support of Citation who the Trust engaged in 2021 as their Employment and Health and Safety support; this included the introduction of new electronic platforms where staff now access employment and health and safety support, training and documentation. The Recruitment A olntment and Trainin of Trustees Nominations for new Trustees are considered by the Trust Board. A decision is taken regarding the nominee's suitability for the role in terms of their personal skills and experience, their interest in people with leaming disabilities and what they can contribute to the work of the Charity. If felt appropriate the candidate then attends an information event and is also interviewed by a sub-group of existing Trustees and asked to attend a Trust Board Meeting. A majority decision by the existing Trustees is needed in order to appoint the nominee. An indurtion pack is issued to new Trustees and trainin8 will be made available rf required. One third of Trustees resign each year but can offer themselves for re- election. A chairperson and vice-chairperson is elerted from the Trustees for a two year term. These arrangements were introduced following the last major review of the Articles of Association. One trustee, Rosie Parr resigned from the Trust Board on 7th Ottober 2023 and James Law50n was cTropted onto the Trust Board on 27 January 2024.
ORCHARDVALE TRUST LIMITED COMPANY NUMBER.. 1946592 REPORT ANO FINANCIALSTATEME14TS FOR THEYEAR ENL*D31STJANUARY 2024 Risk Mana ement Reviews of the major risks to which the Charity may be exposed are undertaken on an on- going basis by the Chief Executive Officer using an agreed matrix model and reviewed by the Board of Trustees on a quarterly basis. Mitigating action is taken as and when necessary. Mana ement of Reserves Orchard Vale Trust holds cash reserves of £356,941 and these funds are held in 2 accounts maintained separately to the bank accounts that are used to carry out the regular management and trading of the Trust; the bank accounts that Orchard Vale Trust hold are as follows: Bath Building Society £171,453 Virgin 120 Account £185,488 By keeping this money in reserve Orchard Vale Trust is ensuring that it is in a position to fulfill the CQC requirement as outline in Regulation 13 of the Health and Social Care Act Regulations 2014 . the servlce provlder must take all reasonable steps to carry on the regulated activity In such a manner as to ensure the financial viability of the carrying on of that activity for the purposes of- la) achieving the alms and objectives set out in the statement of purpose; and (b) meetlng the registration requlrements prescribed pursuant to sectlon 20 of the Act. The accounts in which the reserves are held are managed by the Financial Manager of Orchard Vale Trust and are reported quarterlyto the Trustees at the Trust Board Meeting. The accounts in which the resenies are held are included in the annual financial port on Orchard Vale Trust's account, which is externally audited and then reported to the Charity Commission, following approval by the Trustees at the Annual General Meeting of the Trust. The accounts in which the reserves are held are reviewed regularly by the Financial Manager to ensure that they are in appropriately protected institutions and that they are accessible for operational support should the Trust take the decision that they are no longer in a position to continue to trade. Review The policy and the amount that is held in reserves is reviewed, as a minimum, on an annual basis at the Annual General Meeting of the Trust.
ORCHARD VALE TRUST LIMITE[) COMPANY NUMBER.. 1946592 REPORT AND FINANCIAL STATEMENTS FOR THEYEAR ENDED31 JANUARY 2024 Results and Reserves The results for the year and the state of affairs of the Trust are satisfactory and there has been no material change since the date of the balance sheet. There was a £169,785 surplus of income over expenditure in the year to 31st January 2024. This surplus has increased the reserves which now stand at £2,695,009. Unrestricted general funds, as set out in note 13 to the accounts, have increased to £805,67412023.' £702,165) at the balance sheet date. This is in excess of the target free reserves level which is the equivalent to 3 months, worth of unrestricted expenditure. Future Plans- 2024 The Trust expetts to continue to operate Its four residential homes into the future. The Trust also intends to continue to work in developing its Community and Day Care programme to reflect and meet the local need. During the year the Trust will undertake on-going maintenance work at all its homes and the Commun ity and Day Service site, to ensure that facilities remain suitable for use. This will continue to include works that were delayed as a result of COVID-19 restrictions. The bungalow that is owned by the Trust and has been let on a commercial basis, has become vacant and the Trustees are going to consider what the use of this building is 80ing to be so that it best serves the purpose of the Trust. The Trust conducts an annual review of staff training needs and a new staff development training programme is put into place at the beginning of each year. Staff training is delivered through a combination of online training on the Citation platform which is known as Atlas, which offers a wide range of statutory and personalised training units and in- person training. There is also bespoke training for individuals with key areas of responsibility in 2023 the Compliance Officer achieved their NEBOSH accreditation and the Chair of Trustees, the Vice Chair of Trustee5 and the CEO attended the Trustee Exchange which is an annual national event for governance of charitable or8anisations. This level of training will be sustained. In 2024 the Trustees will continue to develop their strategy around stakeholder engagement which will include a series of questionnaires, meetings with family and friends and focus groups with staff. ststement as to disclosure of inforniation to the Auditors The Trustees in their capacity as Directors, state that as far as each of the Trustees at the time that this report was approved are aware: a. there is no relevant audit information of which the Auditors are unaware. b. have taken all steps that they ought to have taken to make themselve5 aware of any relevant audit information and to ensure that the Auditors are aware of that information.
ORCHARD VALE TRUSTIIMttED COMPANY NUMBER.. 1946592 REPORT AND FINANCIAL STATEME FOR THE YEAR ENtED31" IANUARY 2024 Auditors Knight Goodhead have signified their willingness to continue in office and their appointment will be proposed at the forthcoming Annual General Meeting. Statement of Directors and Trustees Responsibilities Company law requires the trustees to prepare the Report of the Trustees and accounts for each financial period which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing those accounts the Trustees are required to: Select suitable accounting policies and apply them consistently; Make judgements and estimates that are reasonable and prudent: Prepare the accounts on the going concern basis unless itls inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. As far as the Trustees are aware, there is no relevant audit information of which the auditors are unaware. Each Trustee has taken all the steps that they ought to have taken as Trustee in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. This repo the Comp Account. as been prepared in accordance with the small company's regime in Part 15 of ies Act 2006, and in accordance with the Charities Statement of Recommended nd Reporting by Charities. Christo er Absolon Dlrector and Trustee.. Date: 5 October 2024 io
INDEPENDENT AUDITOR'5 REPORTTO THE MEMBERS OF ORCHARD VALE TRUST UMITED FOR THE YEAR ENDED 31 JANUARY 2024 Oplnion We have audited the financSal statement5 of Orchard Vale Trtsst Limited (the company and the groupl for the year ended 31 january 2024. which comprise the consolidated Statement of Financial Activities. the ¢ons01idated Balance Sheet, the consolidated Cash Flow Statement and notes to the financial Statements, including a summary of Significant accounting policies. The financial reporting framework tktat has been applied in their preparation is applicable law and United Kingdom Accounting Standards. includln8 Financial Reporting Stsndard 102.. The Financial Reportfing Standard applicable in the UK and RepublSc of Ireland (United Kingdom Generally Actepted Accounting Practice). In our oplnlon, the financial statements: give a true and fair view of the state of the group's and the Char[ble Company's affairs as at 31 January 2024 and of Its Income and expendlture for the year then ended.. have been properly prepared in accordance with United knn8dom Generalty Accepted Accounting Practlce; have been prepared In accordance with the requirements of the Companles Act 21JJ6. Basls of oplnlon We conducted our audlt In accordance with International Standards on Auditing IUKI IISAslUKII and applicable law. Oui responsibilities under those standards are further described in the Auditor's responslbililies for the audit of the financial statements 5ectlon of our report. We are independent of the charitable company In accordance with the ethical requirements that are relevant io our audit of the financial statements in the UK, includinB the FRC'S Ethical Standard, and we have fijlfilled our other ethlc81 responslbllltles in accordance wlth these requirements. We believe that the audlt evldence we have obtained is sufficient and appropriate to provide a ba51s for our oplnS0n. We planned and performed our audlt so as to obtsin all the Information and explanations which we considered necessary in order to provlde LSS With sufficient evldence to give reasonable assurance that the financial ststements are free from materlal m15Statement, whether caused by fraud or other irregularity OT error. In fomiSn8 our opinion we also evaluated the overall adequacy of the presentatlon of Information in the financial Statements. Concluslons relatlng to golTrg concern We have nothing to report In respect of the followlng matters in relatlon to which the ISAS IUKI require us to report to you where.. the trustees, use of the 80inB concern basis of accountln8 in the preparation of the financial statements is not approprlate,. or the trustees have not disclosed in the financial statements any Identified material uncertainties that may cast 518niflcant doubt about the charitsble company's ability to continue to adopt the Boing concern basis of accoyntSng for a period of at least twelve months from the date when the financial statements are authorised for issue. Other Informatlon The trustees are responsible for the other Information. The other information comprises the informatlon included in the annual report other than the financial statements and our auditorfs report thereon. Our opinion on the finantial statements does not cover the other information and, except to the extent otheiwi5e explicitly stated our reporL we do not express any forni of assurance conclusion thereon. In connection with OUT audit of the financlal statements, our spOnsIbl11ty is to read the other information and, in doing so, consSder whether the other information is materlalty inconsistent wÈth the financial statements or our knowledge obtained in the aydlt or othernise appears to be materSally missiated. If we identify such material In¢onsistencie5 or apparent material misstatements. we are required to determine whether there is a material mi55tatement in the financial ststements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material mlsstatement of this other information, we are requlred to report that fact. 11
INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF ORCHARD VALE TRUST LIMITED FOR THE YEAR ENDEO 31 JANUARY 2024 Maters on which we are requlred to report by exception In the light of the knowledge and understanding of the charitsble company and its environment obtslned In the course of the audit, we have not identified material misststements in the Trustees, Annual ReporL We have nothing to report on in respectof the following matters In relation to which the Charities Art 2011 requires us to reptsrt to you If, In our oplnion.. the company has not kept adequate and suffKient accountin8 records. or retums adequate for our audit have not been received from branches not visited by us: or the company's flnanclal statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law are not made.. or we have not receSved all the informatlon and explanations we require for our audit; or the trustees wère rt entltled to prepare the financial statements In accordance wlth the small companie5 regime and take advantsge of the small companies exemption in preparin8 the Trustees, Annual Report and take advantaBe of the small companies exemptSon from the requirement to prepare a strategic report. Responslbllltles of Tru5tee$ As explained more fully in the tru5tees' responsibilities statement set out on pa8e 10, the trustees are responsible for the preparation of the financlal statements and for being satisfied that they glve a true and fair vlew, and for such internal control as they determine Is necessary to enable the preparation of financlal statements that are free from materlal missiatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for a55essln8 the charltsble company's ability to contlnue as a goin concern, dlscloslng, as applicable. matters related to golng concern and using the 8oinB concern basis of accountlng unless the trustees elther Intend to liquidate the charitable tornpany or to cease operations. or have no realistic alternative but to do w. Our responslbllltles for the audlt of flnancSal ststement$ We have been appointed as auditor under the Company'5 Act ?nd report In accordance wlth the Act and relevant regulatlons made or havlng effect thereunder. Our objectlve5 are to obtain reasonable a55urance about whether the financial statements as a whole are free frorn materlal mlsstatement, whether due to fraud or error, and to issue an auditorfs 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 IUKI wlll always detect a material misstatement when it exists. Mlsstatements can arise from fraud or error and are considered materlal If, IndSvldually or In the a88re8ate, they could reasonably be expecte(J to influence the economlc decisions of users taken on the basis of these financial statement5. Irregularities, includSn8 fraud, are Instances of non-compllance wlth laws and regulations. We de48n procedures in Ilne with our responslblllties, outlined above, to detect materlal mlsstatements in SpeCt of irre8ularitles. Includin8 fraud. The extent to whlch our procedures are capable of detectin8 irregularities. including fraud is detailed below: The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. We Identified the laws and regulations applicable to the charitable company throu8h discussions with trustees and other manaBement and we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal Colrespondence. We assesseil the susceptibility of the charltable company's financial statements to material misstatement Includlng obtsining an understanding of how fraud might occur, by making enquiries of mana8ement as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud and consÉdering the internal controls in place to mitlgate risk5 of fraud and non-compliance with laws and TeEulations. 12
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ORCHARD VALE TRU LIMITED FOR THE YEAR ENDED 31 JANUARY 2024 To address the risk of fraud through management bias and override of controls, we performed analytical procedures to identify any unusual or unexpected relationships. tested journal entries to identify unusual trarbsactions and investigated the ratlonale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance wlth laws and regulations, we designed procedures which included, but were not limited to: agreeing flnancial ststement disclosures to undertyin8 SUPPOrtln8 documentstion. readlng the mlnutes of meetinBs of those charged with governance- and enquirln8 of management as to actual al potential litigation and clalms.. There are Inherent limitstlons in our audit procedures destribed above. The rn0 removed that laws and regulations are from flnanclal transactions, the less likely It Is that we would become aware of non-compllance. Auditing standards also Ilmit the audit procedures required to identify non-compliance with laws and regulations to enqulry of the tru5tee5 and other management and the Inspection of re8ulatory and le8al correspondence, if any. MaterSal mlsStatements that arise due to fraud can be harder to detect than those that arise from error as they may Involve dellberate concealment or collusion. A further description of our responsibllilies for the audit of the financlal statements is located on the Financial Reportln8 Council's webslte at.. https.'Ilwww.frc.or8.uklaudltorsresponsibilities. Thls description forffls part of our auditorfs report. Knlght Goodhead Llmited is eligible for appolntment as auditor of the charitable company by virtue of its ellgibillty for appointment as auditor of a company under section 1212 of the Companies Act 2006. Use of our report This report is made solely to the charltable compan5 member5, as a body, in accordance with Chapter 3 of Part 16 of the Companles Act 2CX]6. Our audit work has been undertaken $0 that we might state to the charitsble tompany's members those matters we are required to state to them In an auditorfs report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsiblllty to anyone other than the chafitable compan*s members as 3 body, for our audit work, for thls reporL or for the oplnlons we have formed. CJ GOODHEAD FCA Senior Statutory Auditor Knlght Goodhead Llmited Chartered Accountants and Statutory Auditors 7 Bournemouth Road, Chandler's Ford, Eastlei8h. Hampshire. SO53 3DA VlcJcl• kn 2aLÈ 13
ORCHARD VALE TRUST LIMTED Company number: 1946592 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2024 (Including Income and Expenditure Account) Unrestricted funds Restrlcted fund5 2024 Total 2023 Total Notes INCOME Voluntary income 39,898 23,51X) 63.398 56.960 Charitable activities 2.806,288 2,806,288 2,400.038 Investment income 19,435 678 20,113 18,168 Income from trading subsidiary .17.355 17,355 22,277 TOTAL INCOME 2,865,621 41,533 2,907,154 2,497,443 EXPENDITURE Fundraising costs 4,706 4,706 7,016 Charitable activitie5 2.689,426 43,237 2,732,663 2,408,743 TOTAL EXPENDITURE 2,694,132 43,237 2,737,369 2,415,759 NET INCOME FOR THE YEAR 171,489 11,7041 169,785 81,684 TRANSFERS BEfwEEN FUNDS 16,9601 6,960 NET MOVEMENT IN FUP4DS 164,529 5,256 169,785 81,684 Funds at l February 2023 2,475.759 49,465 2,525,224 2,443,540 FUNDS AT31 JANUARY 2024 2,640,288 54,721 2,695,009 2,525,224 All of the above results are derived from continuin8 activities. There were no other reco8nised 8ains or losses other than those stated above. Movements in funds are disclosed in note 13 to the financial statements 14
ORCHARD VALE TRUSTLIMTED Company number: 1946592 CONSOLIDATED BALANCE SHEET AS AT 31 JANUARY 2024 Group Charity 2024 2023 2024 2023 Notes FIXED ASSETS Tangible fixed assets Fixed asset investments 1.681,661 350,000 2.031,661 1,641,523 350,OC 1,991,523 1.681.661 350.000 2,031,661 1,641,523 350,000 1,991,523 CURRENT ASSETS Debtors Cash at bank and in hand 91,999 833,596 925,595 199,851 587.133 786,984 115.903 805,923 921,826 243,635 539,849 783,484 CREDITORS.. amounts falllng due within one year io 1142,795) {106.4711 1141.428) 1106,2411 NETCURRENT ASSETS 782,800 680,513 780,398 677,243 TOTAL ASSETS LESS CURRENT LIABIUTIES 2,814A61 2,672,036 2,812,059 2,668,766 CREDITORS: amounts falllng due after more than one year li 1119,452} 1146,8121 (119,452) 1146.8121 NET ASSETS 2,695,009 2,525,224 2,692,607 2,521,954 FUNDS Restricted funds Unrestricted funds General funds Designated funds Revaluation reserve 13 54,721 49,465 52,319 46,195 13 13 13 805,674 1,763,605 71,009 702.165 1,712.752 60,842 805,674 1,763,605 71,009 702,165 1,712,752 60,842 TOTAL FUNDS 2,695,009 2,525,224 2,692,607 2,521,954 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Approve he board of trustees on 5 October 2024 and signed on its behalf by: .5. Adrian Lumley-smith Itrusteel Ken Stratton Isecretary} 15
ORCHARD VALE TRUST LIMTED Company number: 1946592 CONSOLIDATED CASHFLOW STATEMENT FOR YEAR ENDED 31 JANUARY 2024 2024 2023 Note NET CASHFLOW PROVIDED BY OPERATING AcnvinES 337.915 166,3841 CASH FLOWS FROM INVESTING ACTIVITIES Interest received Receipts from rent on investment properties 15,845 4,268 4,685 13,483 CASH FLOWS FROM FINANCING AcfiviTIES Fixed asset addition5 Proceeds from the Sale of fixed assets Bank loan repayments (75,230) 139.4241 136,335 133.4461 NETCASH FLOW 246,463 1121,0861 Change in cash and cash equivalents in the year 246,463 1121.0831 Cash and cash equivalents at start of the year Cash and cash equivalents at the end of the year 587,133 708,216 833,596 587,133 16
ORCHARD VALE TRUST LIMTED Company number: 1946592 CONSOLIDATED CASHFLOW STATEMENT NOTES FOR YEAR ENDED 31JANUARY 2024 2024 2023 I RECONCILIATION OF MET INCOME TO NET CASH FLOW FROM OPERATING AcfiviTIES Net incomellexpenditurel for the year Interest received Investment property revaluation Investment property rent Interest paid Depreciation Loss on disposal of fixed assets Decreasellincreasel in debtors IOecreasel/increase in creditors Net cash flow from operating activities 169,785 115,845) 81.684 14,6851 (4,2681 10.255 32,769 2,323 107.852 35,044 113,4831 5,665 34,506 1135,7451 134,3261 337,915 166,3841 2 ANALYSIS OF CASH AND CASH EQUIVALENTS Cash at bank and in hand 833.596 587,133 3 ANALYSIS OF CHANGES IN NET DEBT Ati Feb 2023 At31 Jan 2024 Cash ftows Cash at bank and in hand 587,133 246,463 833,596 Debt due within one year Debt due afterone year 126,0701 1146,8121 414,251 11,2801 27,360 127,3501 1119,4521 272,543 686,794 17
ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 I ACCOUNTING POLICIES al Basis of preparation of the accounts 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 FRS 102 (effective January 20191 and the Companies Act 2006. The charity meets the definition of the public benefit entity under FRS 102. A55ets and liabilities are initlally recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. The accounts have been prepared on the going concern basis. There are no material uncertainties about the charity's ability to continue. bl Consolidation The charity controls Orchard Vale Social Enterprises CIC. a company incorporated in England and Wales bv virtue of its voting ri8hts and being the sole member. The results of that company have been consolidated in these accounts. cl Income Fees and contributions are accounted for in full in the statement of financial activitie5 when receivable. Income Subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met. Fees received in advance are deferred and released in the subsequent accounting period. Donations and legacies are received by way of donations and gifts and are included in full in the statement of financial activities when receivable. Grants are recognised in full in the statement of flnancial activitie5 in the year in which they are receivable. Investment income Is recognised on an accruals basis. dl Expenditure Expenditure is recognised in the period in which it Is incurred. Expenditure includes attributable VAT which cannot be recovered. Fundraising costs relate to the costs incurred by the charitable company in raising funds for the charitable work. Charitable activities costs represent the direct costs of running the residential homes including the maintenance, insurance, rates, cleanin& lighting and heating of the properties, the staffing cost5 for the homes and residents food, activities and transport. el Provisions Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated. 18
ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 n Tangible fixed assets All tanRible fixed assets, includinR freehold properties. are stated at cost less depreciation. Assets are reviewed for impairment if circumstance5 indicate their carrying value may exceed their net realisable value and value in use. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. Freehold land is not depreciated but the depreciation rates in use for other fixed assets are as follows.. Freehold buildings Vehicles Equipment 1% straight line 25% reducing balance 25% reducin8 balance gl Investment properties Investment property, which is property held to earn rentals andlor for capital appreclation, is initiallv recognised at cost, which includes the purchase c05t and any directly attributable expenditure. Subsequently it 15 measured at fair value at the reporting end date. The surplu5 or deficit on revaluation is recognised in the Statement of Financial Activities. hl Liabilities Liabilities are recognised on the accruals basis in accordance with normal accounting principles. il Funds The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in the furtherance of the objects of the charity. Such fund5 may be held in order to finance both working capital and capital investment. jl Finance and operatin8 leases Finance leases are accounted for in accordance within the requirements of the Flnancial Reporting Standard 102. Rentals payable in respect of operating leases are charged to the Statement of Financial Activities as incurred. kl Pension Commitments The charity operates a defined contributions pension scheme in accordance with the National Employment Savin8s Trust INEST). Contributions are char8ed in the accounts as they become payable in accordance with the rules of the scheme. 11 Legacies Income from legacies is recognised when the charity has sufficient evidence that a gift has been left to the charity. and the amount to be received can be estimated with sufficient accuracy. and that any conditions attached to the legacy are either within the control of the charity or have been met. 19
ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 2 LEGAL STATUS The charity is a company limited by guarantee and has no share capital. The charitable company was incorporated on 11 September 1985 in England and Wales and was registered on 4 October 1985 with the Charity Commission in England and Wales. The charity is a public benefit entity. The registered office of the charitable company is East Court, Wookey, Wells, Somerset, BA5 IAR. If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies havin8 similar objects to the charity. 3 INCOME Unrestrlcted funds Restrlcted funds 2024 Total 2023 Total VOLUNTARY INCOME Donations and legacies Fundraising Total voluntary Income 26.408 13,490 39.898 23,500 49,908 13,490 63,398 52,148 4,812 56,960 23,500 CHARITABLE ACTIVITIES Fees and contributions Covid 19 related grants Other income Total choritoble activitie5 2,787,762 2,787,762 2.381,538 18,500 18,526 2 806 288 18,526 2 806 288 2 400 038 INVESTMENT INCOME Investment income INCOME FROM TRADING SUBSIDIARY TOTAL INCOME 41 249744 20
ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 {continued) 4 EXPENDITURE Unrestricted funds Restricted funds 2024 Total 2023 Totsl FUNDRAISING COSTS Fundraising and publicity 4,706 4,706 7,016 Running Costs relating to Day Services Resident Activities Vehicle Running Costs Household Running Costs Personal allowances paid to residents Repairs, Maintenance & Health & Safety Employed staff costs {see note 51 Payroll costs Staff recruitment costs Subcontractors Indemnity Insurance Le8al fees Telephone and internet Bank charges Care Standards Commission Interest payable Staff training and welfare Travel costs Depreciation Profit on disposal of fixed assets Office costs, stationery and advertising Subscriptions Sundry expenses Accountancy fees Auditors remuneration Orchard Vale Enterprises gardening costs 5.458 17,095 39,342 213,278 52,911 129,688 1,726,582 3,670 15,254 321,797 2,475 5,934 17,441 2,414 4,333 10,255 49,368 3,255 31,356 2,323 14,336 3,774 1,097 4,990 11,000 5,458 23,579 43,151 213,278 52,911 131.340 1.748,115 3.670 15,254 321,797 2,475 5,934 17,441 2,414 4,333 10,255 49,758 4,096 32,774 2,323 14,336 3,809 782 7,792 11.000 4.588 15,597 16,782 33,593 187,062 53,264 73,855 1,631.382 3,221 16,569 231,196 2,605 6,105 11,154 1,934 4,333 5,665 40,908 7,132 34,507 6,484 3,809 1,652 21,533 390 841 1,418 13,438 2,244 1,105 4,954 6,300 3,838 35 1315) 2,802 4,588 Total cost of charitable activities 2.689.426 43,237 2,732,663 2,408 743 TOTAL EXPENDITURE 2,694,132 43,237 2,737,369 2,415,759 During the year the amounts paid to the auditors included audit fees of £6.000 {2023'. £4,900) and £1,500 12023: £1,4001 in respect of other services. 21
ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 {continued) 5 EMPLOYED STAFF COSTS AND NUMBERS Employed staff costs for the group were as follows: 2024 2023 Salaries and wages Social security costs Pension 1,585,531 130,530 32,054 1,475.976 126,066 29,340 1.748,115 1,631,382 No employee earned more than £60,000 duringthis or the prioryear. During the year £134,64112023'. £124.591} was paid to 3 {2022- 41 members of key management personnel, including pension contributions. As at 31 January 2024 the charity had outstanding pension payment liabilities of £nil {2022'. £6,199). The average number of full time employees and part time staff during the year was as follows: 2024 No. 63 2023 No. 66 En8a8ed on charitable artivities Engaged on management and administration 70 70 6 TAXATION The charitable company is exernpt from corporation tax as all its income is charitable and is applied for charitable purposes. The tax currently payable by Orchard Vale Social Enterprlses CIC is based on taxable profit for the year. Taxable profit differs from net profit as reported in the year because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deduttible. The companws liability for current tax is calculated using tax rates that have been enacted or substantively enacted bv the reportinA end date. 22
ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 (continued) 7 TANGIBLE FIXED ASSETS GROUP AND CHARITY Freehold land & bulldln8S Equipment and vehicles Total COST At l February 2023 Additions Disposals At 31 January 2024 2.525.998 53.863 225,392 21,367 129,0001 217,759 2,751,390 75,230 129,0001 2,797,620 2.579,861 DEPRECIATION At l February 2023 Charge for the year Disposals At 31 January 2024 929,522 18,923 180.345 13,851 {26,682 167,514 1.109,867 32,774 126,682} 1,115,959 948,445 NET BOOKVALUE At 31 January 2024 1,631,416 50,245 1,681,661 At 31 January 2023 1,596,476 45,047 1,641,523 8 INVESTMENT PROPERTIES GROUP AND CHARITY Investment propertles FAIR VALUE At l February 2023 Additions in year Disp05als in year Revaluation At 31 January 2024 350,Q)O 350,000 A professional market value of £350.000 was obtained for the property in June 2021. The investment property has been assessed by the Trustee5 during the year as remaining at fair value. If land and buildings were measured using the historic cost model. the carrying amounts would have been approximately £278,99112023 - £282,380), being c05t £338,89212023 - £338,892) and depreciation £59.901 {2023 - £56,512). 23
ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 (continued) 9 DEBTORS Group 2024 Charlty 2024 2023 2023 Trade debtors Other debtors Taxation recoverable Prepayments and accrued income 91.706 195,163 90,920 24,690 293 189,247 51.005 2,863 520 243.635 293 2.863 1,825 199.851 91,999 115,903 10 CREDITORS: amounts falling due within one year Group 2024 Charlty 2024 2023 2023 Bank loans {see note 11) Trade creditors Taxation and social security Other creditors Accruals and deferred income 27,350 66,977 31,047 2,793 14,628 26,070 60,783 15 9,697 9,936 27.350 66,810 31,047 2,793 13,428 26,070 60,553 15 9,697 9,936 142,795 106,471 141,428 106,241 11 CREDITORS.. amounts falling due after one year Group 2024 Charity 2024 2023 2023 Bank loans 119,452 146,812 119,452 146.812 Secured loans and creditors due after more than five years: Group 2024 Charlty 2024 2023 2023 Bank loans 8.784 26,829 8,784 26,829 The bank loans are secured on the freehold properties concerned. The loans represent 9% {2023 11%) of the net book value of the freehold properties 24
ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 (continued) 12 OPERATING LEASES At the year end the charity had total operating commitments under non-cancellable operating leases of £17.823 {2023: £26,4031. The operating leases includes one lease for photo copiers which expires in February 2025 for which the annual charge Is £1,128, and a telephone system which expires in Ottober 2028 for which the annual cost is £4,452. 13 MOVEMENT IN FUNDS- GROUP AND CHARITY Funds at 1 February 2023 Funds at 31 January 2024 Income Expendlture Transfers RESTRICTED FUNDS Funeral fund Big Lottery fund IT Delivery fund Dr Martens Foundation Reconditioning Projertor Fund Orchard Vale Enterprises CIC Total restrlcted funds 19,262 5,669 6,264 678 19.940 4,251 6,264 13,348 8,516 {1,418) 15,000 {1,652) 16,484} 15,000 8,5 17,355 18,500} 15.460 3.270 {33,6831 143,2371 2,402 49,465 41.533 6,960 54,721 DESIGNATED FUNDS Property Capltal fund Revaluation reserve 1,712,752 60,842 129,178) 80.031 10,167 1,763,605 71,009 Totsl designated funds 1.773,594 {29,1781 90,198 1,834,614 UNRESTRICTED GENERAL General funds 702,165 2.865,621 {2.664.9541 {97,1581 805,674 Total unrestricted funds 2.475.759 2,865.621 {2,694,132) 16,9601 2,640.288 Funeral fund This fund h35 been set up to provide funeral arrangements for residents whose families partiClP3te in the scheme. 25
ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 (continued) Bl8 Lottery Fund This relates to funding received from Big Lottery in order to set up the café and gardening SeiCe5 provided by Orchard Vale Social Enterprises CIC as work activities for the residents. IT Dellvery Fund This fund was to run IT workshops in the community and was used to purchase ipads and pay a specialist trainer. Orchard Vale Enterprlses CIC Thls represents the reserves of Orchard Vale Enterprises CIC. East Court Garden Furnlture This fund relates to donations received towards the purchase of garden furniture for East Court Hlve communlty servl¢es This wa5 awarded to the Hive Day Service to introduce a regular exercise session on a weekly basis. Recondltlonlng This fund represents income to be used to support increasing the activity levels and overall fitness of the individuals who live in our residential care homes. Dr Martens Foundatlon This is to fund staff and resources to expand the kitchen garden at East Court so that it can increase its produce and support the local foodbank and community with produce from the garden. Projector Fund Orchard Vale Trust was chosen as the Wells Golf Club's Charity of the year, the money they raised was specifically to purchase an interactive projector which can be shared across the Trust and provide a range of activities and stimulus for the individuals that we support. Property Capltal fund The charlty maintains 3 Property Capital fund. This fund has been created to reflect the book value of the land and buildings held by the charity, net of bank loans outstanding at the balance sheet date, General fund The charity maintains one general unrestricted fund. 26
ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 {continued) 14 ANALYSIS OF NET ASSETS BEfwEEN FUNDS Restricted Designated funds funds General funds Total funds Year Ènded 31 January 2024 Tangible fixed assets Fixed asset investments Net current assets Long term liabilities Net assets 4.251 1,631,416 350,000 127.3501 {119,4521 1,834.614 45.994 1,681.661 350,000 782,800 {119,452} 2,695,009 50,470 759,680 54,721 805,674 Restricted Deslgnated funds funds General funds Total funds Year ended 31 January 2023 Tangible fixed assets Fixed asset investments Net current assets Long term liabilities Net assets 5,669 1,596,476 350.000 126,070) 1146,8121 1,773,594 39,378 1,641,523 350,000 680,513 1146,8121 2,525,224 43,796 662,787 49.465 702,165 15 RELATED PARTIES The following transactions with related parties have occurred during the year: Hannah Allen and Martha Venner are both trustees and are related to beneficiary, Matthew Charnaud. Peter Crump Itrusteel is related to beneficiary Bronwen Crump. Chris Absolon and Joanna Sudell are trustees. The related beneficiary to both of them is Jonathon Absolon. Adrian Lumley-smith {trusteel is related to beneficiary Timothy Lumley-smith. No reimbursements are made to Trustees for expenses incurred on Trust business. Although the trustee5 are entitled to be reimbursed for travel costs etc. they do not claim this. Funds belonging to the charity have been used for the purchase of insurance to protect the charity from loss arising from the neglect or defaults of its trustees. employees or agents. or to indemnify its trustees. employees or agents, against the consequences of any neglect or default on their part. The sum expended on such insurance was £1,54812023- £1,548). 27
ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 (continued) 16 SHARE CAPITAL The charity is incorporated under the Companies Att and is limited by guarantee, each member having undertaken to contribute such amount5 not exceeding one pound as may be required in the event of the company being wound up whilst he or she is still a member or within one yearthereafter. There were 10 members of the company12022: 10 members) at the year end. 17 DONATED SERVICES AND ASss There were no donated assets received durin8 the year. Volunteer seiceS given to the charity have not been valued In the vear to 31 January 2023, 35 the amount is not material to the accounts. 18 NET INCOME FROM TRADING A1VITIEs OF SUBSIDUARY Orchard Vale Trust is the sole subscriber to Orchard Vale Social Enterprises CIC (company number 115287721. The CIC was Incorporated on 21 August 2018. The results for the CIC were as follows: 2024 2023 Turnover Cost of sales Administrative expenses Operating loss Corporation tax Net Ios5 32,815 14,588) 129,095) {868) 26,423 {5,141} (28,1521 16,8701 1,305 15,5651 1868} 19 PARENT CHARITY Below are summarlsed results for Orchard Vale Trust excluding Income and expenditure from the subsidiary company.. 2024 2023 Income Donations and Legacies Charitable activities Investment income 81,924 2,787,762 20.113 2,889,799 75,460 2,381,538 18,168 2.475,166 Expenditure Charitable activities {2.719,1461 12,387,915) Net gain on investment Surplus for the year 170,653 87,251 28
ORCHARD VALE TRUST LIMTED Company number: 1946592 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 (continued) 20 PRIOR YEAR STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restrlcted funds 2023 Totsl Notes INCOME Voluntary income 44,464 12,496 56,960 Charitable activities 2,382,538 17.500 2,400,038 Investment income 17,934 234 18,168 Income from trading subsidiary 22,277 22,277 TOTAL INCOME 2,444,936 52,507 2,497,443 EXPENDITURE Fundraising costs 7,016 7.016 Charitable attivities 2,362,363 46,380 2,408.743 TOTAL EXPENDITURE 2,369,379 46,380 2,415,759 NET GAINS ON INVESTMENTS NET INCOME FOR THE YEAR 75,557 6,127 81.684 TRANSFER5 BETWEEN FUNDS {1,650) 1,650 NET MOVEMENT IN FUNDS 73,907 7,777 81,684 TOTAL FUNDS AT I FEBRUARY 2022 2,401,852 41,688 2,443,540 TOTAL FUNDS AT 31 JANUARY 2023 2,475,759 49,465 2,525,224 All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. 29
ORCHARD VALE TRUST LIMTED Company number: 1946592 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2024 (continued) 21 PRIOR YEAR MOVEMENT IN FUNDS- GROUP AND CHARITY Funds at 1 February 2022 Funds at 31 January 2023 Income Expenditure Transfers RESTRICTED FUNDS Funeral fund Bit Lottery fund IT Delivery fund East Court Garden Furniture Hive community services Reconditioning 19,028 7,559 6.264 234 2,496 19,262 5.669 6,264 11,890) {2.4961 10,000 2,500 15,000 iio,0001 (2,5001 15.000 Orchard Vale Enterprises CIC Total restrlrted fund5 8.837 22.277 131,990) 4,146 3,270 41,688 52,507 146,380} 1,650 49,465 DESIGNATED FUNDS Property Capital fund Revaluation reserve 1,620,267 60,842 (24,160) 116,645 1,712,752 60,842 60,842 Total restricted funds 1,681,109 60,842 124,1601 116,645 1,773,594 UNRESTRicfED GENERAL General funds 720.743 2,444,936 {2,345,219) 1118,2951 702,165 Total unre5trlcted funds 2,401,852 2.505,778 12.369.379} 11,650) 2,475,759 30