ORCHARD VALE TRusf LIMITED COMPANY NUM8ER= 1946592 REPORT AND FINANCIALSTATEMENTS FOR THE YEAR E140ED31STJANUARY 2025 ORCHARD VALE TRUST LIMITED COMPANY NUMBER: 1946592 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2025 ORCHARD VALE TRUST UMITED COMPANY NUMBER.. L946592 REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED315fJANUARY 2025 Reference and Administrative Information 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 James Lawson Kate Steele Adrian Lumley-smith Hannah Allan Peter Crump Joanna Sudell Martha Venner Tony Mullins John Fox '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, his appointment as th a Trustee was confirmed unanimously at the AGM on 5 October 2024. Chief Executive: 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, 8A5 2AD io. Solicitors: Mogers Drewett, 24 Queens Square, Bath BAI 2HY 11. Auditors: Knight Goodhead Ltd., 7 Bournemouth Road, Chandlers Ford, Eastleigh, S053 3DA 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. The Direttors 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 known as members of the Board. ORCHARDVALE TRUST LIMITED COMPANY NUM8ER.. 1946592 REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31"JANUARY 2025 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 four times 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. st The Trustees present their Annual Report and Accounts for the year ended 31 January 2025. The board of Trustees are satisfied with thE performance of the Charity during the year and st the position at 31 January 2025. 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 its 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 th The Charity is a non-profit making company incorporated on 11 September 1985, limited by guarantee and having no capital share. It was registered as a charity 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 its purpose. The Charity currentSy 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 service. All the Trust's current residents are in receipt of financial sUPPOrt from their Local Authority in order to meet the fees charged by the Charity. The level of residential fees is negotiated with the Local authority 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 serrfice users are funded in ORCHARD VALE TRVST UMITED COMPANY NUMBER.. 1946592 REPORT AND FINANCIALSTATEME14TS FOR THE YEAR ENDED315fJANUARY 2025 different ways including from 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 their 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 though incapable of achieving any measure of self-dependency as even the most personal of tasks were done for them by thelr 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 work for 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 societvs 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 2024 the Trust has continued to focus on delivering its services both residential care and in the community. The Trust has given particular attention to developing the communication and IT infrastructure which underpins staff s ability to deliver person centred care and the way in which individuals that we 5UPPOrt are able to acce5S SUPPOrt services, contact with friends and family and recreational activities. There has also been a significant focus on developing the existing residential homes to meet the changing needs of some individuals as they age. Alongside this the Trust has continued to develop and widen the activities which are being offered in the residential and community settings. The Trustees held an additional meeting on 2nd November 2024 in which they considered the way in which to respond to the changing needs of individuals, this is particularly pertinent to the cohort of adults that Orchard Vale Trust supports some adults with learning disabilities can age prematurely in comparison to the general adult population. The Trust keeps its overall staffing levels under continuous review. In 2024 staffing levels across the Trust have improved. 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. However, the use of agency staff started to reduce in 2024 due to increased recruitment levels. In 2024 the Trust continued with its programme of maintaining and upgrading its physical facilities. A new kitchen was installed at St Chads, one of the residential care homes. The focus of the design was to maximise the accessibility of the kitchen so that the individuals who live at St Chads continue to be actively involved in food preparation. New paths were installed in the garden at East Court, providing better access for those who have impaired mobility. A large ground floor room at East Court was developed into a room that could support individuals who need a bespoke environment. The ground floor location allows the ORCHARD VALE TRUST UMITED COMPANY NUMBER.. 1946592 REPORT AND FINANCIAL STATEMENTS FOR TrIE YEAR ENDED315fJANUARY 2025 room to be accessible and a new wet room has been installed. The room provides a resource for the entire Trust and could be used for an individual who has been discharged from hospital or is unable to use the stairs. as well as a more long-term change in need. In 2024 the Trust invested significantly in the improvement of the connectivity of the organization. Every site had new Wi-Fi installed. A new electronic care package, Nourish, was also introduced and this marked a movement away from paper records to a fully digital system. 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 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 inspetted by CQC, and it is possible to access the individual reports via our website. In 2024 all 4 residential care homes continue to be rated Good. 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. Throughout 2025 the garden at East Court has continued to produce a wide range of produce which is used to supply all of the residential care homes in the Trust and makes a weekly delivery to the Wells Foodbank, so providing a source of fresh produce which would otherwise be unavailable. In 2024 there has been a trial growing cut flowers with some of the residents of East Court and individuals who attend the Hive. The initial pilot has been successful and this is going to be extended in 2025 with a view to making bouquets which can be supplied locally. The Hive also gained funding from Wells Art Project to be involved in a local arts project at Wells Cathedral where they built an installation that was part of a wider community display. The installation was positively received. There is a rigorous Quality Assurance programme within the Trust which is regularly reviewed by the Chief Executive. The Trust maintains its vehicle fteet, ensuring that there are a range of vehicles which meet the changing needs of service users. During the financial accounting period there have been no changes to the resident population and the Trust remains at full occupancy. The Trust does not hold a waiting list. Trustees have met regularly during the year and have overseen the work of the Trust, ensuring its financial viability. Public Benefit The Trustees give due regard to the public benefit guidance set out by the Charity Commission and believe that the Charity meets its 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 ORCHARD VALE TRUSTUMITED COMPANY NUMBER.. 1946592 REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENt*D 315fJANUARY 2025 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 it5 aims and are agreed with Local Authorities and other funders who are Purchasers of the service. The fees charged for residential care are directly 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 for the residential services provided,. Day care services are charged in a transparent rate depending on the service needed. The charge5 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 attivities of the Charity to ensure that these are consistent with the legal objects set out in its constitution. Fund Raisin Activities and Revenue The Charity complies and is consistent with the Charity Commission's guidance on fundraising activities. 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 U5- ' We are accountable. The Charity raises funds 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 supporterfs 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 engage with supporters who may be in vulnerable circumstances. By sharing honest and powerful stories, we engage and inspire supporters to support Orchard Vale Trust's mission to support adults with learning disabilities to live life 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 contratts, 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 ORCHARD VALE 7RUST LIMITED COMPANY NUMBER.. 1946592 REPORT AND FINANCIAL STATEMÉ14TS FOR THE YEAR ENDED31ST JANUARY 2025 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 315t January 2025 did not differ from previous years when the marathon has run. After costs the amount raised was £3,058.96. The Trust successfully submitted applications to Bath and North East Somerset Council and Somerset County Council for Digital Transformation grants, £1,400 was received from Bath and North East Somerset and £IO,O(MJ from Somerset County Council. The Trust was able to hold its regular fundraising activities and this included the Toby Charnaud Memorial Golf Day which was held in May 2024. Two teams of volunteers worked at the Glastonbury Festival and raised £6,600. The Trust is grateful for the generous support and donations from charitable trusts and individuals which include: The Honourable Society of Gravs Inn, Church Coffee morning organised by Chris Absolon, Donations in memory of Kay Burleton, Audrey Davis, The Blakemore Foundation, The Blair Foundation, The Gilbert Edgar Trust, F.A.F. Charitable Trust, Jo Sudell. Fund Ralsln Actlvitles- Ca ital Any major building improvement 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. Em lo ment Policies The Charity is an equal opportunities employer and is fully committed to a policy of treating all of its existing employees and job applicants equallv. The Trust uses Citation for HR and Health and Safety Support; this provides both online and in person support with policy and process in both areas. Citation has an on-line training platform known as Atlas which is used for the majority of on-line staff training. The on-line training is complimented by specialist on-line training like the Oliver McGowan training, and in person training del'ivered by specialist trainers. In addition to the HR support from Citation, the Trust is also advised by the specialist law firm Ramsey Paterson, The Recruitment A ointment 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 learning 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 induction pack is issued to new Trustees and training will be made available if required. One third of Trustees resign each year but can offer themselves for re- election. A chairperson and vice-chairperson is elected from the Trustees for a two year oRCHARDvA￿ TRUST LIMITED COMPANY NUMOER.. 1946592 REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31sfJANUARY 2025 term. These arrangements were introduced following the last major review of the Articles of Association. James Lawson was co-opted onto the Trust Board on 27th January 2024 and his appointment was confirmed unanimously at the AGM on 5 October 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 £461,528. These funds are held in 3 accounts and are 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 £175,966 Virgin 120 Account £275,562 Charity Bank Ethical Easy Access £10,000 The sum identified and to be held as resenies is the equivalent to 3 calendar months of operational costs. The Operational Costs are calculated as Seniices & utilities, Insurance, Food, Salaries & Residents, Personal Allowances. By keeping this money in reserve Orchard Vale Trust is ensuring that it is in a position to fulfil the CQC requirement outlined in Regulation 13 of the Health and Social Care Act Regulations 2014 . the service provider 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 (a) achieving the aims and objectives set out in the statement of purpose; and (bl meeting the registration requirements prescribed pursuant to section 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 quarterly to the Trustees at the Trust Board Meeting. The accounts in wh'ich the reserves are held are included in the annual financial report 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. ORCHARD VALE TRUST LIMITED COMPANY NUMBER.. 1946592 REPORT AND FINANCIALSTATEMENTS FOR ThE YEAR ENDED315fJANUARY 2025 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. Future Plans- 2025 The Trust expects to continue to operate its four residential hornes 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 Community and Day Service site, to ensure that facilities remairt suitable for use. The bungalow that is owned by the Trust and has been let on a commercial basis, has become vacant and the Trustees have decided to draw up detailed development and financial plans to inforrn a decision as to whether or not to proceed with major works to make this into a fifth residential home for adults with learni ng disabilities. 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 on-line 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. In 2025 the Trustees will continue to develop their strategy around stakeholder engagement which was started in 2024. Regular meetings are held with Families and Friends of Service Users, The focus in 2025 is going to be developing structures which develop communication with staff,. this will include engaging with Helen Sanderson Training for all teams and developing current and new meeting structures. Statement as to disclosure of information 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 themselves aware of any relevant audit information and to ensure that the Auditors are aware of that information. Results and Stste of Affairs 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 surplus of income over expenditure in the year to 31st January 2025 shown as net income for the year on the consolidated statement of financial activities. This surplus has increased the reserves which show as total funds at the foot of the consolidated balance sheet. ORCHARD VALE TRUST LIMITED COMPANY NUMBER.. 1946592 REPORT AND FINANCIALSTATEMENTS FOR THE YEAR ENDED31STJANUARY 2025 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 it is 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. This report has been prepared in accordance with the small CoMpan￿S regime in Part 15 of the Compan. s Act 2006, and in accordance with the Charities Statement of Recommended Accountin nd Reporting by Charities. Christophèr Absolon Director and Trustee: Date: 4th October 2025 io INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ORCHARD VALE TRusf LIMITED FOR THE YEAR ENDED 31 JANUARY 2025 Opinion We have audited the financial statements of Orchard Vale Trust Limited (the company and the group) for the year ended 31 January 2025, which comprise the consolidated Statement of Financial Attivities. the consolidated Balance Sheet, the consolidated Cash Flow Statement and notes to the financial statements. including a summary of signrficant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accountlng Standards, Including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and llepublic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our oplnlon, the financial statements: glve a true and fair view of the state of the group'5 and the charitable company's affairs as at 31 January 2025 and of its income and expenditure for the year then ended,. have been properly prepared in accordance with United Kingdom Generalty Accepted Accountln8 Practice; have been prepared in accordance with the requlrements of the Companles Act 2006, Basls of oplnlon We conducted our audit In accordance with. International Standards on Audlting (UK) IISASIUKII and applicable law. Our responslbllltles under those stsndards are further described in the Auditor's responsibilities for the audit of the financial statements sectlon 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 statement5 in the UK, includSng the FRC'S Ethical Standard. and we have fulfilled our other ethical respon5ibi1Sties In accordance wlth these requirement5. We believe that the audit evidence we have obtalned is sufficient and approprlate to provide a basis for our opinlon. We planned and perforrned our audr( so as to obtain all the information and explanatlons whlch we consldered necessary in order to provlde us wlth sufficient evidence to give reasonable a55urance that the financial statements are free from material mlsstatement, whether caused by fraud or other Irregularity or error. In formin8 our opinion we also evaluated the overall adequacy of the presentation of Information in the flnancial statements. Concluslons relatlng to golng concern We have nothlng to report in respect of the following matters In relatlon to whSch the ISAS IUKI require us to report to you where: the trustees, use of the going concern basis of accounting in the preparatlon of the financlal statements Is not approprlate; or the trustees have not disclosed In the financlal statements any identified material uncertainties that may cast significant doubt about the charitable company's abllity to contlnue to adopt the 80in8 concem basls of accountln8 for a perlod of at least twelve months from the date when the financial statements are authorlsed for issue. Other Informatlon The trustees are responsible for the other infomatlon. 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 flnancial statements does not cover the other Information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection wlth our audlt of the financial statements, our reSKhJnsibility is to read the other information and, in doing so, conslder whether the other information is materlally inconslstent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other Information. 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. 11 INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF ORCHARD VALE TRUST UMITED FOR THE YEAR ENDED 31 JANUARY 2025 Maters on which we are required to report by exception In the Ilght of the knowledge and undefStandin8 of the charitable company and its environment obtained in the course of the audit. we have not identified material misstatements in the Trustees, Annual Report. We have nothing to report on In respect of the followlng matters In relation to whlch the Chaflties Act 2011 requires us to report to you if, in our opinion.. the company has not kept adequate and sufficient accounting records, or retuN)s adequate for our audit have not been feceived from branches not visrted by us; or the company's financial statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees. remuneration specrfied by law are not made- or we have not received all the information and explanatlons we require for our audit: or the trustees were not entitled to prepare the financial statements in accordance with the sm311 companie5 regime and take advantage of the small companies exemption in preparing the Twstees, Annual Report and take advantage of the small companies exemption from the requirement to prepare a strategic report. Responslb115tles of Trustees As explalned more fully in the trustees. responsibillties ststement set out on page 10, the trustees are responslble for the preparation of the flnanclal statement5 and for being satisfied that they give a true and fair view, and for such internal control as they determlne Is necessary to enable the preparatlon of flnancial statements that are free from material mi$5tatement. whether due to fraud or error. In preparing the financial statements. the trustees are responslble for assesslng the charitsble company's ablllty to contlnue as a going concern, disclosln& as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees eithei Intend to liquidate the charitable company or to tease operation5. or have no realistic alternatlve but to do so. Our responslbllities for the audlt of Ilnanclal ststements We have been appolnted as audltor under the Company's Act and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtsin reasonable assurance about whether the financial statements as a whole are free from materlal mlsstatement, whether due to fraud or error, and to issue an auditor's report that includes our oplnion. Reasonable assurance Is a hlgh level of assurance, but is not a guarantee that an audit conducted In accordance with ISAS IUKI will always detect a materlal misstatement when it exists. Misstatements can alise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expetted to Influence the economic decisions of users taken on the basis of these financlal statements. Irregularitles, including fraud, are instances of non-compliance wtth laws and regulatlons. We design procedures in Ilne wSth our responsibilities, outlined above, to detect material misstatements in respe¢t of irregularities. including fraud. The extent to which our procedtjres are capable of detectln8 irregularities. including fraud is detsiled below- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilitles and skllls to identify or recognise non 13 ORCHARD VALE TRUST LIMTED Company number: 1946592 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2025 {Including Income and Expenditure Account) Unrestricted funds Restricted furKIs 2025 Total 2024 Total Notes INCOME Voluntary income 182,790 182,790 63,398 Charitable activitles 3.023.550 11,405 3,034,955 2,806,288 Investment Income 19,617 880 20,497 20,113 Income from trading subsidiary 8,054 8,054 17,355 TOTAL INCOME 3.225.957 20,339 3,246,296 2,907,154 EXPENDITURE Fundraising costs 3.925 3.925 4,706 Charitable activities 2.884.986 20.283 2,905.269 2,732,663 TOTAL EXPENDrruRE 2.888.911 20,283 2.909,194 2,737,369 NET INCOME FOR THE YEAR 337,046 56 337,102 169,785 TRANSFERS BETWEEN FUNDS 23,540 123,5401 NEf MOVEMENT IN FUNDS 360,586 123,4841 337,102 169,785 Fund5 at l February 2024 2.640,288 54,721 2.695,009 2,525,224 FUNDS AT 31 JANUARY 202S 3,000,874 31,237 3,032,111 2,695,009 All of the above results are derived from continuing activities. There were no other reco8nised gains or losses other than those stated above. Movements in funds are disclosed in note 13 to the financial statements. 14 ORCHARD VALETRUST LIMTED Company number: 1946592 CONSOLIDATED BALANCE SHEEfAS AT 31 JANUARY 2025 Group Charity 2025 2024 2025 2024 Notes FIXED ASSETS Tangible fixed assets Fixed asset investments 1,781,291 350.000 2,131,291 1,681,661 350,0(KI 2.031,661 1.781,291 350,000 2.131,291 1.681.661 350.000 2.031.661 CURRENT ASSETS Debtors Cash at bank and in hand 263,512 935,537 1.199,049 91.999 833,596 925,595 291.971 903,406 1,195,377 115,903 805,923 921,826 CREDITORS: amounts falling due within one year io (208,1991 1142,795) 1206,7061 1141,4281 NET CURRENT ASSETS 990,850 782,800 988.671 780,398 TOTAL ASSETS LESS CURRENT LIABILITIES 3,122,141 2,814,461 3,119,962 2,812,059 CREDITORS.. amounts falling due after more than one year li 190,030) {119,4521 (90.030) 1119,4521 NET ASSETS 3,032,111 2,695,009 3,029,932 2,692,607 FUNDS Rcstrictcd funds Unrestricted funds General funds Desi8nated funds Revaluation reserve 13 31,237 54,721 29,058 52,319 13 13 13 1,066,523 1.873.509 60,842 805.674 1.763,605 71,009 1,066,523 1,873,509 60,842 805,674 1,763,605 71,009 TOTAL FUNDS 3,032.111 2,695,009 3,029,932 2,692,607 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Approved by the board of trustees on 4 October 2025 and Signed on its behalf by: JI. fj Adrian Lumley-smith Itrusteel Ken Stratton Isecretaryl 15 ORCHARD VALE TRUST LIMTED Company number: 1946592 CONSOLIDATED CASHFLOW STATEMENT FOR YEAR ENDED 31 JANUARY 2025 2025 2024 Note NET CASHFLOW PROVIDED BY OPERATING AcfiviTIES 203,916 337,915 CASH FLOWS FROM INVESTING AcfiviTIES Interest received Receipts from rent on investment properties 20A97 15,845 4,268 CASH FLOWS FROM FINANCING AcfiviTIES Fixed asset additions Proceeds from the sale of fixed assets Bank loan repayments 185,736) 175,2301 136,736) 136,3351 NETCASH FLOW 101.941 246,463 Change in cash and cash equivalents in the year 101,941 125,380 Cash and cash equivalents at start of the year Cash and cash equivalents at the end of the year 833,596 708,216 935,537 833,596 NOTES FOR THE YEAR ENDED 31 JANUARY 2025 2025 2024 I RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES Net incomellexpenditure) for the year Interest received Investment property revaluation Investment property rent Interest paid Depreciation Loss on disposal of fixed assets Decrease/lincreasel in debtors IDecreasel/increase in creditors Net cash f low from operating activities 337,102 (20,497) 169,785 115,8451 {4,2681 10,255 32,769 2,323 107,852 35,044 9,527 45,799 160 (171,513) 3,338 203.916 337,915 2 ANALYSIS OF CHANGES IN NET DEBT Atl Feb 2024 At31 Jan 2025 Cash Ilows Cash at bank and in hand 833,596 101,941 935,537 Debt due within one year Debt due after one year (27.350} 1119.4521 12,213) 29.422 129,5631 190,0301 815.944 686,794 129,150 16 ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 I ACCOUNTING POLICIES a) 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 benefrt entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting poSicy 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 by virtue of its voting rights 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 activities 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 accountinE 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 financial activities 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 whlch 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, cleaning, lighting and heating of the properties, the staffing costs for the homes and residents food, activities and transport. el Provisions Provisions are set up On￿ 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. 17 ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 fj Tangible fixed assets All tanRible fixed assets. includinR freehold properties, are stated at cost less depreciation. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in u*. 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% reducing balance 8} Investment properties Investment property, which is property held to earn rentals andlor for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly allributable expenditure, Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is reco8nised in the Statement of Financial Activities. hl Liabilities Liabilities are recognised on the accruals basis in accordance with normal accounting principles. i) 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 funds may be held in order to finance both working capital and capital investment. j} Finance and operating leases Finance leases are accounted for in accordance within the requirements of the Financial Reporting Standard 102. Rentals payable in respect of operating leases are charged to the Statement of Financial Activities as incurred. k) Pension Commitments The charity operates a defined contributions pension scheme in accordance with the National Employment Savings Trust INESTI. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme. l) 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. 18 ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 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 wtth 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 cha rity 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 cha ritable body or bodie5 having similar objects to the charity. 3 INCOME Unrestrlcted funds Restrlcted fvnds 2025 Total 2024 Total VOLUNTARY INCOME Donations and legacies Fundraisin8 Total voluntary income 169,738 13,052 182,790 169,738 13,052 182,790 49,908 13,490 63,398 CHARITABLE ACTIVITIES Fees and contributions Other income Total charitable octivities 3.OQ8,902 14,648 3 023 550 3.008,902 26,053 3 034 955 2,787,762 18,526 2 806 288 11,405 INVESTMENT INCOME Investment income INCOME FROM TRADING SUBSIDIARY TOTAL INCOME 3 246 296 19 ORCHARD VALE TRusf LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 20251continued) 4 EXPENDITURE Unrestricted funds Restricted funds 2025 Total 2024 Total FUNDRAISING COSTS Fundraising and publicity 3,925 3,925 4,706 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 5} Payroll costs Staff recruitment costs Subcontractors Indemnity Insurance Legal fees Telephone and internet Bank charges Care Standards Commission Interest payable Staff training and welfare Travel costs Depreciation Loss on disposal of fixed assets Office costs, stationery and advertising Subscriptions Sundry expenses Accountancy fees Auditors remuneration Orchard Vale Enterprises gardening costs 2,152 20,268 48,322 229,433 50,331 79,897 1,894,640 3,947 11,356 367,551 2,465 16,860 14,424 2,377 4,333 9,527 47,657 2,865 45,799 160 17,588 2,770 782 1,682 7,800 2,152 23.612 49,434 229,433 50,331 80,610 1,908.650 3,947 11,356 367,551 2,465 16,860 14,424 2,377 4,333 9,527 47,657 2,865 45,799 160 17,588 2,805 782 2,423 7,800 328 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 3,344 1,112 713 14,010 35 741 328 Total cost of charitable activities 2,884,986 20,283 2,905,269 2,732,663 TOTAL EXPENDITURE 2,888,911 20,283 2,909,194 2,737,369 During the year the amounts paid to the auditors included audit fees of £6,300 (2024: £6,000) and £1,500 (2024: £1,500) in respect of other services. 20 ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 20251continued) 5 EMPLOYEDSTAFF COSTSAND NUMBERS Employed staff costs for the group were as follows: 2025 2024 Salaries and wages Social security costs Pension 1,729,932 143,361 35,357 1,585,531 130,530 32,054 1,908,650 1,748,115 One employee earned between £60,000 and £70,000 during the year. No employees earned more than £60, 000 in the prior year. During the year £149,52312024: £134,641) was paid to 312024: 3) members of key management personnel, including pension contributions. As at 31 January 2025 the charity had outstanding pension payment liabilities of £nil12024: £nill. The average number of full time employees and part time staff during the year was as follows: 2025 2024 No. 67 Engaged on charitable activities Engaged on management and administration 74 70 6 TAXATION The charitable company is exempt from corporation tax a5 all its income is charitable and is applied for charitable purposes. Any corporation tax currently payable by Orchard Vale Social Enterprises CIC is based on taxable profit for the year. The liability for this year is £nil {2024: £nil). 21 ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 (continued) 7 TANGIBLE FIXED ASSETS GROUP AND CHARITY Freehold land & buildlngs Equipment and vehicles Total COST At l February 2024 Additions Disposals At 31 January 2025 2,579,861 92,490 217,759 53,099 13,795) 267,063 2,797,620 145,589 {3,795} 2,939,414 2,672,351 DEPRECIATION At l February 2024 Charge for the year Disposa Is At 31January 2025 948,445 19,962 167,514 25,837 13,635} 189,716 1,115,959 45,799 (3,6351 1,158,123 968,407 NET BOOKVALUE At 31 January 2025 1,703,944 77,347 1,781,291 At l February 2024 1,631,416 50,245 1,681,661 8 INVESTMENT PROPERTIES GROUP AND CHARITY Investment properties FAIR VALUE At l February 2024 Additions in year Disposals in year Revaluation At 31 January 2025 350,(X)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 Trustees during the year as remaining at fair value. 22 ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 (continued) 9 DEBTORS Group 2025 Charity 2025 2024 2024 Trade debtors Other debtors Taxation recoverable Prepayments and accrued income 113,482 91,706 113,422 28,549 90,920 24,690 293 293 150,030 263,512 150,000 291,971 91,999 115,903 10 CREDITORS: amounts falling due within one year Group 2025 Charlty 2025 2024 2024 Bank loans (see note 11) Trade creditors Taxation and social security Other creditors Accruals and deferred income 29,563 128,809 36.150 3,182 10,495 27,350 66,977 31,047 2,793 14,628 29,563 128,809 36,152 3,182 9,000 27,350 66,810 31,047 2,793 13,428 208,199 142,795 206,706 141,428 11 CREDITORS: amounts falling due after one year Group 2025 Charlty 2025 2024 2024 Bank loans 90,030 119,452 90,030 119,452 Secured loans and creditors due after more than five years: Group 2025 Charity 2025 2024 2024 Bank loans 8,784 8,784 The bank loans are secured on the freehold properties concerned. The loans represent 23%12024: 28%) of the net book value of the freehold properties. 23 ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 {continued) 12 FINANCIAL COMMITMENTS At the year end the charty had total operating commitments under non-cancellable operating contracts of £23,52712024: £17,823). The operating contracts includes one lease for a telephone system which expires in October 2028 for which the annual cost is £4,452 and a one professional seniices contract which expires in March 2026 for which the annual cost is £9,672. 13 MOVEMENT IN FUNDS- GROUP AND CHARITY Funds at 1 February 2024 Funds at 31 January 2025 Income Expenditure Transfers RESTRICTED FUNDS Funeral fund Big Lottery fund IT Delivery fund Dr Martens Foundation Reconditioning Digital Transformation Fund Orchard Vale Enterprises CIC Total restricted funds 19,940 4,251 6,264 13,348 8,516 880 20,820 14,2511 16,2641 (6,872) (5,134} 6,476 1,762 11,6201 (11,4051 11,405 8,054 2,402 (8,2771 2,179 54,721 20,339 {20,2831 {23,5401 31,237 DESIGNATED FUNDS Property Capital fund Revaluation reserve 1,763,605 71,1X)9 {29,4881 139,392 (10,1671 1,873,509 60,842 Total deslgnated funds 1,834,614 (29,4881 129,225 1,934,351 UNRESTRICTED GENERAL General fund5 805,674 3,225,957 12,859,423) {105,6851 1,066,523 Total unrestricted funds 2,640,288 3,225,957 {2,888,911) 23,540 3,000,874 24 ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 (continued) Funeral fund This fund has been set up to provide funeral arrangements for residents whose familie5 participate in the scheme. Blg Lottery Fund This relates to funding received from Big Lottery in order to set up the café and gardening services provided by Orchard Vale Social Enterprises CIC as work activities for the residents. The funds brought forward relate to the net book value of a motor vehicle purchased for this project. As the restriction has been met, this has been transferred out to general funds. IT Dellvery Fund This fund was to run IT workshops in the community and was used to purchase ipads and pay a specialist trainer. The restrictions on this fund were met in prior years and so a transfer has been made to general funds. 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. Recondltionin8 Thi5 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. The transfer out to general funds relates to expenditure for this purpose which was not identified in prior years. Dlgital Transformation This fund relates to the implementation of a digital care package. The transfer out to general funds relates to the purchase of fixed assets for this purpose. Orchard Vale Enterprises CIC This represents the reserves of Orchard Vale Enterprises CIC. 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 Capital fund The charity maintains a Property Capital fund. This fund has been created to reflect the book value of the land and building5 held by the charity, net of bank loans outstanding at the balance sheet date. Revaluation Reserve This represents the uplift in value from historic cost basis to fair value basis on recognising one of the properties as an investment property in the 2022 accounts. General fund The charity maintains one general unrestricted fund. 25 ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 (continued} 14 ANALYSIS OF NET ASSETS BETWEEN FUNDS Restricted Designated funds funds General funds Total funds Year ended 31 January 2025 Tangible fixed assets Fixed asset investments Net current assets Long term liabilities Net assets 1,703,944 350,000 {29.5631 {90,0301 1,934,351 77,347 1,781,291 350,000 990,850 190,030} 3,032.111 31,237 989,176 31,237 1,066,523 Restricted Designated fvnds funds General funds Total funds Year ended 31 January 2024 Tangible fixed assets Fixed asset investments Net current assets Long term liabilities Net assets 4,251 1,631,416 350,000 (27,3501 (119.4521 1,834,614 45,994 1,681,661 350,000 782,800 {119,4521 2,695,009 50,470 759,680 54,721 805,674 15 RELATED PARTIES The following transactions with related parties have occurred during the year: Hannah Allan and Martha Venner are both trustees and are related to beneficlary, Matthew Charnaud. Peter Crump {trustee) 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 beneficiaryrimothy Lumley-smith. No reimbursements are made to Trustees for expenses incurred on Trust business. Although the trustees 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 £1,62712024: £1,548). 26 ORCHARD VALE TRUST LIMTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025. (continued) 16 SHARE CAPITAL The charity is incorporated under the Companies Act and is limited by guarantee, each member having undertaken to contribute such amounts 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 year thereafter. There were 10 members of the company {2022: 10 members) at the year end. 17 DONATED SERVICES AND ASSETS There were no donated assets received during the year. Volunteer services given to the charity have not been valued in the year to 31 January 2025, as the amount is not material to the accounts. 18 NET INCOME FROM TRAOING ACTIVITIES OF SUBSIDIARY Orchard Vale Trust is the sole subscriber to Orchard Vale Social Enterprises CIC (company number 11528772). The CIC was incorporated on 21 August 2018. The results for the CIC were as follows: 2025 2024 Turnover Cost of sales Administrative expenses Operating105s Corporation tax Net loss 8,054 1328} 17,949} {223} 32,815 14,588) 129,095) 1868) 1223} {868) 19 PARENT CHARITY Below are summarised results for Orchard Vale Trust excluding income and expenditure from the subsidiary company: 2025 2024 Income Donations and Legacies Charitable activities Investment income 208,843 3,008,902 20,497 3,238,242 81,924 2,787,762 20,113 2,889,799 Expenditure Charitable activities {2,900,917) (2,719,146) Net gain on investment Surplus for the year 337,325 170,653 27 ORCHARD VALE TRUST LIMTED Company number: 1946592 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 (continued) 20 PRIOR YEAR STATEMENT OF FINANCIAL ACTIVITIES Unrestrirted funds Restricted funds 2024 Total Notes INCOME Voluntary income 39,898 23,500 63,398 Charitable activities 2,806,288 2,806,288 Investment income 19,435 678 20,113 Income from trading subsidiary 17,355 17,355 TOTAL INCOME 2,865,621 41,533 2,907,154 EXPENDITURE Fundraising costs 4,706 4,706 Charitable activities 2,689,426 43,237 2,732,663 TOTAL EXPENDITURE 2,694,132 43,237 2,737,369 NET INCOME FOR THE YEAR 171,489 11,7041 169,785 TRANSFERS BETWEEN FUNDS (6,960) 6,960 NET MOVEMENT IN FUNDS 164,529 5,256 169,785 TOTAL FUNDS AT I FEBRUARY 2023 2,475,759 49,465 2,525,224 TOTAL FUNDS AT 31 JANUARY 2024 2,640,288 54,721 2,695,009 All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. 28 ORCHARD VALE TRUST LIMTED Company number: 1946592 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JANUARY 2025 (continued) 21 PRIOR YEAR MOVEMENT IN FUNDS - GROUP AND CHARITY Funds at 1 February 2023 Funds at 31 January 2024 Income Expenditure Transfers RESTRICTED FUNDS Funeral fund Bit Lottery fund IT Delivery fund Dr Martens Foundation Reconditioning Projector Fund 19,262 5,669 6,264 678 19,940 4,251 6,264 13,348 8,516 (1,4181 15,000 {1,6521 {6,484) 15,OlXI 8,500 (8,500) Orchard Vale Enterprises CIC Total restrlrted funds 3,270 17,355 (33,683) 15,460 2,402 49,465 41,533 143,237) 6,960 54,721 DESIGNATED FUNDS Property Capital fund Revaluation reserve 1,712,752 60,842 129,1781 80,031 10,167 1,763,605 71,009 Total deslgnated funds 1,773,594 {29,1781 90,198 1,834,614 UNRESTRicfED GENERAL General funds 702,165 2,865,621 12,664,954) 197,158} 805,674 Total unrestricted funds 2,475,759 2 865,621 2 694 132 2 640 288 29