charr REGISTERED COMPLNY,N'U,MBER: 01901404 (England and Wales) REGISTERED CHAIUTY IIWMBF.R: 516466 ort f the Trustees and Finaneial Statements for the Year Ended 31 March 2024 for Ma field Fellowshi WaJT & Co Limited Chartered Accountants & Stamtory Auditors Mynshull House 78 Churchgate Stockport SKI IYJ
Ma field Fellowshi Conlents of the FiNall¢ial Statcments for the Ycar EJJded 31 March 2024 Page Reference and administrative details Report of the trustees 2 to 7 Report of the independent auditors 8 to 11 Statemelll of finaneial activities 12 Balance sheet 13 Cash flow statement 14 Notes to the easb Ilow statement 15 Notes to the fJDancial stattmellts 16 to 26
Ma f]d Fellowshi Reference and Administrative Details for the Year Ended 31 March 2024 Trustees M5 L Jackson A B Jackson LMLee Mrs A Mccormick Ms D Slee Ms J A Speariett C Speariett MTS J Clements Company secretsry Ms D Slee Registered offe Mayfield Court 40 You¢ns Way Livery)¢)ol L142EP Regisl¢red company number 01901404 (England and Wales) Registered charity ftumber 516466 Auditors wa & Co Limited Chartered Accountants & Statuiory Auditors Mynshull House 78 Churchgate Stockport SKI IYJ Solicitors Brabners Chaffe Street Horton House Exchange Flags Live4)001 L2 3YL Advisers Barclays Bank PIC South Liverpool Management Centre 394 Edge I.ane Liverpool L7 9PX Page I
Mavfield Fellowshi Re istered number: 01901404 rt of the Trustees for the Year Ended 31 March 2024 The trusfres who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopt the Provisions of Accounting and Reporting by Charities: Statemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Strandard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019). Strategic report Achievement and pcrfonnance Charitable activities MayfIeld Court is a pulpose-buili building that was opened in 1983 is based in Knotty Ash in Liverpool. The home is registered with the Care Quality Commission under the Health and Social Car¢ Act 2008 as a caTC home to provide accommodation and personal caTe for 35 residents. Mayfield Fellowship provides care and support in a safe and secure environment that empowers residents to live their life as independently as they are able irrespective of their disability. The clicnt group who access services have Complex physical disabilities which may include clients with learning disabilities and mcntal health needs following an injury at birth (Cerebral Palsy), awired brain injury througb trauma or neurological disorders. Mayfield Fellowship is registered to provide services with Liveox)ol, Sefton, and Knowsley. Mayfield Court is an approved provider for Liverpool Social Servic0% providing placements for Clients who require specialist residential care. The home continues to maintain full occupancy. Referral for placements at the service continues to be via LiveTpooI Social Service portal SYstn. During this reporting period we continue to maintain to monitor the risk of an outbreak of covid that could impact the health and wellbeing of the residents and the service we provide. RidentS Referrals of new residents who are placed at Mayfield Court continue to be under the age of 65 and potential residents over the age of 65 continue to fmd it difficult to secure funding for a placcment within the home. Referrals for placement at Mayfield Court continue to be residents with significant complex needs. The senior management team undertake a comprehensive assessment of potential residents to ensure the service can meet individual llLeds. The level of complexity and the rigorous assessnicnt proce55 can lead to longer than nornial periods of voids. Over this reporting peTiod we have continucd to have regular resident's meetings and residents have continucd io ¢njoy activities within the hOe and the wideT cornmunity. The use of resident's families What's App group and other social pl(ttfonns Continue to be a very useful communication tool. Although we are living with COVID 19 there remains a risk of a COVID l9 outbreak and in the event of an outbreak all relevant Infection Control procedures will be implemented. A review of the roles of drivers wa5 undertaken and the decision was made to retain drivers a5 they have a significant impact on staff retention and recruilment. Sadly, this year we lost the following Tesidents Phil Foxley, Allan Ha5prey, Janet Clarke and ]et Young. Their deaths were not COVID related and aLI are greatly missed by staff and residents. Page 2
Ma ,field Fellowshi Re islered number: 01901404 Re ort of the Trustees for Ihe Year Ended 31 March 2024 Strategle report Achievement and performance Starring We continue to have a stable staff group, and this has once again enabled us to continue to provide the hi)est levels of Care and support to meet our residenvs nceds. DuTillg this reporting period the legislatiun EK)dy CQC who monitor ihc registration of care services at Mayfield Court are going through a restructuring of how they inspecl Services registered with them. We continue to monitor and review a]1 changes that will impact the service and monitor and review how the service adapts to ensure care and service delivery meet regulatory requirements. We receive monthly Teports from CQC stating that they h¢ive undertaken external audits of our service and at present there arc no concerns and these audits do not aFfect the home's rating. The Chief Executive and Senior Managemenl Team completed their PIR to CQC (Provider Inforniation Return) which is a legal requirement, in Januilry 2024. This reporting period we have not received a request from CQC to complete a PIR rethrn, but continue tt) receive monthly reports. Recrnitment and selection of care staff has always been a challenge, even as we live with COVID 19, the hallenges remain at a level never seen before within Social Care and we expect this to continue. Fundrdising Following the Covid 19 pandemic fundraising activities continue to be restricted with the only funds raised during this rewrting period being from resident's bingo and a race night. Finallcial review Financial position The Fellowship has a policy document titled Tnternal Financial Controls, which is based on Charity Commission recommendations. The document sets out the basic internal controls required. The Finance Director continues to work with the Senior Management Team in monitoring and reviewing all financial systems. Financial inforniation is reported to the Board at their regular meetings. The total incoming resources for the year were £2.489.063 (2023 £2,104,785). The total resources expended were £2,302.672 (2023 £2,164,793) resulting in a su4)lus of £186,391 (2023 deficit £60,008). The TnteeS are satisfied that the Fellowship has adequate resources io maintain and develop its activities. Principal funding sources 'I'he main SOUTce of income is unrestricted income from vartous local authorities, residents and the Department for Work and Pensions for the provision of residential Te.The main expenditure is thc provison of this service. Reserves policy Resen'es are retained in Order to meet moral, statutory and other commitments arising from the withthwal or reduction of funding. The Trustees consider that this should be at least six months running costs. As at 31 March 2024 the Chatity held reserves of £1,178,024 (2023 £991,633). Resern'es are also retained to finance future plan5 in line with the Fellowship's aims. Monies on deposit are review'ed regularly to ensuTe that the best possible interest rate can be achieved. The Trustees consider that this level of free reserves 15 sufficient, and in line with the amount detemiined by the policy. Page 3
Ma field Fellowshi R¢ istered number: 01901404 rt of the Trusle¢s for the Year Ended 31 March 2024 Strategic report Public Benefit The trustees confm that they have refcrred to the guidance contained in the Charity Commissioners general guidance on public benefit when reviewing thc charity's aims and objectives. The .1 rustees regard the activities of the Charity to fall within the def]nition of a charitable pur) lating to careTS. Structure. governanLe and managem¢nt Governing document As a company limited by guarantee and T]Ot having share capital, Mayfield Fellowship's governing document is it's Memordndum and Articles of Association (updated January 2016). Mayfield Fellowship carries out its charitsble activities at Mayfield Court and is sometimes refeffed to by this name. Recruilmellt and appoilltment of new trust¢¢s The Board of Trustees (who are also Directors for the puryose of Company law) are responsible for the overall governance of the Charity. Mayfield Fellowship follows a robust recruilment and seleaion procedure in the recruitment of all potential trustees. All applicants must apply for an enhanced DBS disclosure and sign a declaration that they are not disqualified from becoming a company director or from working with vulnerable adults. Employees of Mayfield Fellowship or SCOPE are disqualified from becoming a trustee. Following an expression of interesL Potential trustees are invited to Mayfield Court to meet with the Chair and Chief Executive. A synopsis of the applicants Skills, cxperience and interests together witb the Fellowhips expeLtslions in the role and the responsibilities of a trustee are discussed. The Chief Executive provides an overview of the care and servicc dclivery at Mayfield Court. 'll]ey are also given a tour ofthc home. "L'he applicant receives an inforniation pack that contains all relevant documents pertinent to the role of a trustee at Mayfield Fellowship and a signed reccipt is obtained. Once suilability of applicants is estsblished they are then invited to attend a minimum of two board meetings in the role as an observer. On completion of the recruitment and selection process the applicant Ca if appropriate be put forward for election as a Trustee to the Board. Subject to the Memorandum of Association the Trustees may appoint any member as a Trnstee in order to fill a casual vacancy of by way of an addition to the Board. Page 4
Ma 'field Fellowshi Re istered number: 01901404 Re ort of the Trustees for th¢ Year Ended 31 Mareh 2024 Slru¢ture) governance and management Organisational structure All Trustees hold otTice Lmtil the Annual General Meeting when a percentage of the Trustees in line with the Articles of Association resign and offer themselves for re-election by the Members of the Charity. All Trustees are expected to retain their skills and I(nowledge of any legislation or organisational change that may affect care and service delivery at Mayfield Fellowship by attending training seminars arranged by the Fellowships solicitors or the Charity Commission. To demonstrate compliance with Regulation 17 Good Governance of the Health & Social Care Act 2008 the Trustees have a responsibility to ensure there is effective governance including assurance and auditing the systems and pmcesses in place at Mayfield Fellowship to monitor, assess and mitigate any risks to the health, safety and welfare of residents who use the service and the staff who work within the home. The Board of Trustees also have two sub-committees reporting directly to the Board, the remuneration Su1cOMmittee and the development sUCOMMittee. The remuneration sub-committee benchma pofrntial salary increases and new post salaries against current market rates for those posts and ensures that legal requirements such as the minimum wage are adhered to. The day to day management and administration of Mayfeld Fellowship is delegated to salaried manager's who report lo the Chief Executive, who in turn Teports to the Board of Trustees. Chair of the Trustees Vice Chair Finance Director LMLee J A Speariett A B Jackson Chief Executive Carole Ackers Senior Management Team Operational Finance Director Head of Care Deputy Head of Care Quality Manager Colin Billington Adele Gonnan Naomi Bedford Victoria Jones Board meetlngs There are regular board meetings, a minimum of six per yeaT wher¢ the Chief Executive reports dirertly to the Board covering all aspects of service delivery and the business at Mayfield Court. Page 5
Mavfield Fellowshi Re istered number: 01901404 ort of the Trustees for the Year Ended 31 March 2024 Stru¢tvre. governallce and managemellt Qualily and regulalory checks The Chief Executive and Quality Manager continually monitor and review internal systems and processes that are in place to monitor the quality of care and service delivery at tbe home, to ensure we med the requirements of the Health and Social Care Act and compliance with Social Services Contracts. All policies and procedures that demonstrate governance are monitored and reviewed annually under the quality audit system. Mayfield Court retained their outstanding status with CQC in July 2023 and remains the only Outslanding residential service in the Liverpool area. Due to the Covid pandemic there has been major restriclions on visits into the home. Regular weekly meetings via Zoom platform were held with Liverpool Social Services and North West Public Health England. CQC undertook an unannounced visit to the home strictly adhering to Covid Infection Control guidelines on 30th October 2020 Undertaki a targeted inspection focusing on inf¢*tion controL the report found the home was compliant with all legislation. Infection control audil w&s undertaken by Livelpool Social Services on management of Covid pandemiclinfection control measures, the home was compliant with all guidelines. Wider network The Chief Executive continues to meet with other charities and residential care providers in the Liverp¢)ol area. Risk nLqnagemellt The Trustees and Senior Management Team continue to monitor and review the Charity's Business Plan. This enables them lo identify the types of risks the Charity faces both from internal and extemal factors and io implement the relevant risk management strategies. The Business Plan was last reviewed b> the Chief Executive and trustee Jenny Clements in September 2023. The Business Plan and governance procedures are reviewed annually. ststement of trustees, r¢sponsibilAties The trustees (who are also the directors of Mayfield Fellowship for the pUrySeS of company law) are responsible for preparing the Report of the trustees and the financial statements in accordanoe with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the tsstees to prepare fllwicial statements for each financial year which give a true and fair view of the stste of affairs of the charitsble company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those fAnan¢ial statements, the trustees are required to select suitable accounting policies and then apply ihem consistently: observe the methods and principles in the Charity SORP. n]ake judgements and estimaÉes that are reasonable and prudent. prepare the fmancial statements on the going Concern basis unless it is inappropriate to presume that the charitable wmpany will continue in business. Page 6
Ma ,field Fellowshi Re islered number.. 01901404 rt of the Trustees for the Year Ended 31 March 2024 Statement oftrustees, responsibilities - continued The trustees are responsiblc fur keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable thern to ensure thal the financial statements comply with the Companies Act 2006. Thcy are also responsible for safeguarding the assets of the charitable company and hence for laking Teasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware.. there is no relevant audit inforation of which the charitable company's auditors are unaware. and the trustees have taken all stCP5 that they ought to have taken to make themselves aware of any relevant audit infonnation and to cstsblish that the auditors are aware of that infonnation. Auditors The auditors. wa & Co Limite(L will be proposed for re-appointment at the forthcoming Annual General Meeting. Report of the trustees, incorporating a Strategic reporl approved by order of the board of trustees, as the company directors, on 28 January 2025 and signed on the board's behalf by: L M Lee- Trustee Page 7
rt of the Inde end¢nt Auditors lo the Members of Mai'field Fellowshi Opinioll We have audited the financial statements of Mayfield Fellow'ship (the 'charitable ¢ompany'} for the year ended 31 March 2024 which comprise the Statement of fmancial activities, the Balance sheet, the Cash flow statement and notes to the fmancial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their prcpardtion is applicable taw and United Knd0M Accounting Stiindards (United Kingdom Generally Accepted Accounting Practice). In our opinion the fmancial statements: give a true and fair vicw of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; bave been properly prepared in accordance with ljnited Kingdom Ga)erally Accepted Accounting Practice" have been prq)arcd in accordance with the requirements of the Companies Ael 2006. Basis for opinion We conducted our audit in accordance with International Stsndards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are fillther describcd in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of thc charitsble company in awordance with the ethical TequiTcments that are relevant to our audit of the financial statements in the LIK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinio Conclusions relating to going coneern In auditing the fmancial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the fmancial ststements is appropriate. Based on the work we have perfornie¢ we have not identified any nTrterial uncertainties relating to events or conditions thaL individually or colleclively, may cast significant doubt on the Charitable company's ability to continue as a going concem for a period of at least twelve months from when the financial statements are thorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other informatio The trustees are r¢sponsible for the other infoTmation. The other infomiation L()mprises the infom]ation included in the Annual repo¢ other than the financial statements and our Report of the independent auditors thcreon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stsa in our report, we do not express any fonn of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other informalion an(L in doing so, consider whether the other infomialion is materially inconsistent wÈth the financial statements OT our knowledge obtained in the audit or othenvise appears bc materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detern]ine whether this gives rise to a material misstatement in the financial statement5 themselves. If. based on the w'ork w'e have perforn)el we conclude that there is a material misstatement of this other infortnation, w.e are Tequired to report that facL We have nothing to Teport in this regard. Page 8
ort of the Inde endent Auditor3 to the Members of Ma field Fellowshi Opinions OD other matters pres¢ribed by the Companies Act 2006 In our opinion. based on the WOTk undertaken in the course of the audit: the inforniation given in the Report of the trustees for the fmancial year for which the fmancial statements are prepared is consistent with the fmancial statements. and the Report of the trnstees has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the owse of the audiL we have not identified material misstatements in the Report of the tntstees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if. in our opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or the fmancial 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 received all the infonnation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of trustees, responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the fmancial statements and for being satisfied that they give a trne and fair view, and for such internal control as the trustees deternline is necessary to enable the preparation of fmancial statements that are free from material misstatement, whether due to fraud or error. In Preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosin& &$ applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 9
ort of the Inde endellt Auditors to the Member6 of Ma ,rlld Fellowshi Our respoDsibilitles for the audit of the finydncial ststements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or em)r, and to issue a Report of the independent auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee thai an audit conducted in accordance with ISAS IUK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or em>r and are considered material if, individually or in the awegate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. [egularitIeS. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our approach to identifying and assessing the risks of material misststement in respect of irregularities including fraud and non-compliance with laws and regulations were as follows: -the engagement paer ensured that the engagement team Collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance ivith applicable laws and regulations. -we identified the laws and regulations applicable to the company through discussions with the trustees and other management and review of appropriate industy knowledge; -we assessed the extent of compliance with the laws and regulations identified above through making enquiTies of management. and -identified laws and regulations were ¢omrnunicated within the audit team regularly and the tearn remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the charitable MpanY'S financial statemenls to material misstatemenL including obtaining an understanding of how fraud might occur, by" -making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and -considering the internal controls in place to mitigate risks of fraud and non- compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we. -perfonned analytical procedwes as a risk assessment tool to identify any unusual or unexpected relationships" -tested joumal entries to identify unusual transactions. and undertook substantive testing on a sample basis. -reviewed the application of accounting policies with focus on those with heightened estimation uncertainty. In response to the risk of irregularities and non-compliance with laws and regulations. we designed procedures which included, but were not limited to- -agreetng fmancial statement disclosures to undertying supporting documentation" and -enquiring of managemenl as to actual and potential litigation and claims. Due to the inherent limitstions of an audiL there is an unavoidable risk that we rnay not have detected some material misstatements in the financial statements, even though NN'e have properly planned and perfornied our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of nondetection of irregularities, as these may involve ¢ollusion, forgery, intentional omissions, misrepresentstions, or the 0eIde of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and calmot be expected to detect all fraud and non-compliance with la,$ and regulations. Page 10
Re ort of the Inde endent Auditors to th¢ Amembers of Ma .field Fellowshi A rther description of our responslbilities for the audit of the financial statements is located on the Finaniial Reporting Council's website at www.frc.org.u]dauditorsresponsibilities. This description fonns part of our Report of the Indendent Audiiors. Use of our report This report 15 made solely to the charitable company's mcmbers, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we mity)t state to the charitable company's members those matters we are required to stste to them in an auditors, report and for no other PUTPOSe. To the fullest extent perniitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charilable company's members as a b{y, for our audit worK for this report. or for the opinions we have fonned. Nicola Joyce (Senior Statutory Auditor) for and on behalf of wa & Co Limtted Chartered AccounlAnls & Statutory Auditors Mynshull Ilouse 78 Churchgate Stockport SKI IYJ 28 January 2025 Pagell
Ma Fellowshi Statement of Flnancial Activilies for the Year Ended 31 March 2024 31.324 Total funds 31.3.23 Total funds Unre5trIcd nds Restricted fijnd Notes Income and endoJvm¢nts from Donations and legacies 13,624 38,624 12,696 Charitable activities Residential care fees 2.429,447 2,429,447 2,068.749 Other trading activitie5 Investment inLome 10,496 10,496 10,496 10,496 21.543 1,797 Total 2,464,063 25,000 2,489,063 2,104,785 Expenditure on Charitable aetivlties Residential care fees 1302,672 2 J02,672 2,164,793 NET INCOMEI(EXPENDITURE) 161 J91 25,000 186J91 (60,008) Reconciliation of funds Total ndS bmught forward 991,633 991,633 1,051,641 Totsl funds carried forward 1,153,024 25,000 1,17&024 991.633 The notes forn] part of these financial statements Page 12
Ma 'field Fellowshi Re istered number: 01901404 Balance Sheet 31 March 2024 31.3.24 Total funds 31.3.23 Totsl funds Unrestricted funds Restricted fund Notes Fixed assets Tangible assets 12 127J05 127,30S 109,953 Current assets Debtot5 Cash at bank 13 307,097 965J38 307,097 990J38 200.744 899,139 25,000 1271435 25,000 1.297,435 1,099,883 Creditors Amounts falling du¢ within on¢ ycar 14 (246,716) (246,716) (218,203) Iyet eurrent a&8ets 1,025,719 25,000 1,050,719 881,680 Totsl assets less current liabilities 1,153,024 25,000 1,178,024 991,633 NET ASSETS 1,153,024 25,000 1,178,024 991,633 Funds Unreslricled funds Restricted funds 16 1,153,024 25,000 991,633 Total funds 1,178,024 991,633 The financial statements w¢ dPPToved by the Board of Tnte¢S and authoTlSed for issue on 28 January 2025 and were sign¢d on its behalf by.. LMLee-T ABJ - Trustee The notes fom] part of these financial statements Page 13
Ma field Fellowshi Cash Flow Statement for the Year Ended 31 Mareh 2024 31.3.24 31.3.23 Notes Cash flows from operating activities Cash gencted from operalions 168,488 66,746 Net cash provided by operating activities 168.488 66.746 Cash flows from investing activities Purchase of tangible fixed assets Sale of tangible f]xed assets Interest received (87,784) (i) 10,496 (21,844) 1,797 Net cash used in investing activities (77289) (20,047) Changc in cash and cash equivalents in the reporting period Cash and ¢ash equivalents at the beginning of the reporting period 91,199 46.699 899,139 852,440 Casb and cash equivalents at the end or the reporting period 990,338 899,139 The notes forn] part of these financial statements Page 14
Mavfjeld Fellowshi Noles to the Cash Flow Slatement for the Year Ended 31 March 2024 Reconciliatlon of net incomel(expenditure) to nel ¢asb tlow from operating aetivities 31.3.24 31.3.23 Net iu¢omel(expenditure) for the reporting period (as per the Statement of fiDallciiI Activitie5) Adjustments for: Depreciation charges Loss on disposal of fixed &ssets Interest received {Incre&seydecrease in debtors Increase/(decrease) in CTeditors 186,391 (60,008) 68,494 1,939 (10,496) (106J53) 28,513 64,744 (1,797) 133,247 (69,440) Net cash provided by operntions 168,488 66,746 Analysis of chv4nges in net funds At 1.4.23 Cash flow At 31.3.24 Net cash Cash at bank 899,139 91,199 990J38 899,139 91,199 990J38 Totsl 899,139 91,199 990J38 The notes form part of these financial statements Page 15
rield Fell wshi Notes to the Financial Ststements for the Year Ended 31 Mareh 2024 Accounling policies Basis of preparing the finaneial statemeDts The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 102) 'Accounting and Reporting by Charities.. Statement of Recomtnended Practice applicable to charities prepwing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective I January 2019),, Financial Reporting Standard 102 'The Financial Reporting Szandard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Criti1 a¢¢ounting Judgements and key sourees of estimatlon uneertaillty In the application of the charitable company's accounting policies, the trustees are required to make judgements, estimates and assumptions about carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and &ssociated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are Tecognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and firture periods where the revision affects both current and future periods. Tangible fixed assets are stated at cost less accumulated depreciation. Management have used their expectation of the estimated useful lives of each category of assets in order to ensure the appropriate provision is rnade for depreciation. Details are noted in the accounting policies arAd the depreciation provision is ststed in note 12. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the fund4 it is probable that the income will be received and the amount can be measured reliably. Fees for residential care represent the total amount of unrestricted monies received forn] local authorities, seryice users and the Departn]enÈ for WO and Pensions. Fees received that relate to a fire period are deferred and released to the Statement of Financial Activities in the that tUre period. Cash donations are recognised on receipt. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by the volunteers has not been Includ in these financial statements. Investment income is included when receivable. Expendilure Liabilities are recognised as expenditure as soon as there is a legal or constsuctive obligation committing the charity to that expenditure, it is probable that a transfer of econornic benefits will be required in settlement and the amount of the obligation Can be measured liabLY. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all Cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Page 16 continued...
.rield Fellowshi Notes to the Financial Statsments- continued for tbe Year Euded 31 March 2024 Accounting policies - continued Expenditure Expenditure on raising llds comprise5 the costs associated with attracting donations and costs of any trading or similar activities for fvndraisyng purposes. Expenditure on charitable activities comprises those costs incurred by the Charity in the delivery of it's activities and services for its beneficiaries. It includes both costs that can be allOted directly to such activities and those costs of an indirect nats]re necessary to support then, including governance costs. Governance costs are those costs incurred in connection with the administration of the Charity and compliance with constitutional and statutory requirements. Allocation and apporlionment of costs Resources expended are allocated between the expenditure categories on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly. others are apportioned on an appropriate basis such as floor space and time spent. Tangible red assets Tangible fixed assets are measured at cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Short leasehold improvements- 2/0 on cost Fixtures, fittings and equipment - 200/0 on cost Motor vehicles 250/0 on cost Taxation The tharity is exempt from corporation tax on its charitable activities and is not registered for VAT purposes. Any VAT paid is treated as part of the relevant expenditure incUed. Fund a¢¢oullting Unrestricted funds can be used in accordance with the Charitable objectives at the discretion of the tsustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restiictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the narnre and purpose of each nd is included in the notes to the financial statements. Hire purchase and leasing commitments Rentals paid der opwating leases are charged to the Statement of financial activities on a straighi line basis over the period of the Iwe. Going ¢oDcerD The trustees have assessed the Charitable company's financial position and are confident that there is a reasonable expectation that the charitable company has adequate resources to continue in operational eKlStence for the foreseeable future, being at least 12 months from the date of approval of the financial statements. Thus the fmancial statements have been prepared on a going concena basis. Page 17 continued...
Ma field Fel 'shi Notes to the Financial Statements - conlinued ror the Year Ended 31 March 2024 AceouDling policies - ¢ontinued Government grants Government grants are accounted for on a receivable basis. FinaDcial instruments The Charity has elected to apply the provisions of Section I I 'Basic Financial Instnunents, and Section 12 'Other Financial Instrun]ents Issues. of FRS 102 to all of its financial instruments. B&sic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the aTrangement constitutes a financing transaction, where the transaction is measured at the present value of receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial Itabilities, which include creditors, are initialty recognised at transaction price unless the aTrangement constitutes a financing transaction, where the debt instrument is Measured at the present value of the future payments discounied at a market rate of interest. Financial liabilities ¢l&ssified as payable within one year are not amortised. Donalions aDd legacies 31.3.24 31.3.23 Donations 38,624 12,696 Other trading activities 31.324 31.3.23 Fundraising events Other income 1332 9264 705 20.838 10,496 21,543 Page 18 continued...
Ma 'field Fellowshi .Notes to the FRnancial Ststements - continued for the Year Ended 31 March 2024 Investment in¢ome 31J.24 31.323 Short tern] deposit 10,496 1,797 Income fron) charitabk activities 31.3.24 31.3.23 Activity ResidentiaI care fees Residential care fees Residential care Grants 2,429,447 2,064,120 4,629 2,429,447 2,068,749 Grant income represents amounts received from the Workforce Recruitmenl and Retention Fund for adult social care. Charitable activities cosls Support costs (see note 7) Direct Costs Totals Residential care fees lJ41366 961,106 2J02,672 Support costs Govemance costs Manag¢m¢nt Totals Residential care fees 931296 29010 961,106 Net in¢omel(expenditure) Net income/(expenditure) is stated after charging/(crediting): 31.3.24 31.3.23 Auditors, remuneration Auditors, remuneralion for non audit work Depreciation- owned assets Equipment hire Deficit on disposal of fixed assets 6,930 1,710 68,494 8,571 1,939 5,775 1,400 64,745 9,725 Page 19 continued...
Ma .fjeld Fellowshl Notes to the Financial StatemeDls- eontinved for the Year Ended 31 March 2024 Trustees, r¢muneration and benefrts There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expense The following costs were met by the charity on behalf of the truste£s; - Travel]ing expenses £257 were reimbutsed to one trFJ5tee (2023 £388 for two trte¢S). - Meals provided to trust8 at board n]tIngS and team building events at a Cost of £0 (2023 £536). - Seven of the trustees attended the staff annual event held at Aintree Racecourse, the cost in respect of the trustees amounted to £3,604 (2023 £3,832). - Gifts provided to the trustees with a totsl cost to the charty of £2273 (2023 £Nil). - equipment provided to one tnth at a cost of £617 (2023 £Nil). io. Staff costs 313.24 31.3.23 Wages and Salaries Other pension costs 1,550,609 35007 1,446,152 33,784 1,586,416 1,479,936 The average monthly number of employees during the year was as follows: 31.324 31.3.23 Senior management Residential care services Support stalT 29 21 29 21 55 55 Page 20 continued...
Ma ,rId Fellowshi ,Yotes to the Financial Slatemellls - ¢ontinu¢d for the Year Ended 31 March 2024 io. Staff costs- Colltinued The number of employees whose employee benefits {ex¢luding employer pension costs) exceeded £60,000 was: 31.3.24 31.3.23 £60,001- £70.000 £80,001- £90,000 £90.(X)I - £Ioo,000 £140.001- £150,0 ii. Comparatives for the statement of fmaDcial activities Unrestricted funds Restricted fund Total funds Income and endowments fn)m Donations and legacies 849 11,847 12,696 Charitsble activities Residential care fees 2,064,480 4269 2,068,749 Other trading activities Investment income 21,543 1,797 21,543 1,797 Total 2,088,669 16,116 2,104,785 Expenditure on Charitable aetivities Residential care fees 2,148,677 16,116 2,164,793 NET INCOME/(EXPENDITURE) (60,008) (60,008) Reconcillation of fund5 Total funds brought fonvard 1,051,641 1,051,641 Totsl funds carried foThard 991,633 991.633 Page21 continued...
Mavfield Fellowshi Notss to the Financial Statements - continued for the Year Ended 31 March 2024 12. Tangibk fixed assets Short Fixtures, Icasehold fittings improvements & equipment Motor vehicles "I"otals Cost At l April 2023 Additions Disposals 653 J76 14,897 291.366 72,887 (55,130) 86210 1,030,952 87.784 (55,130) At 31 March 2024 668273 309,123 86,210 1,063,606 Depreeialioll At l April 2023 Charge for year Eliminated on disposal 621,091 15,021 231,845 44,399 (53,192) 68,063 9,074 920,999 68,494 (53,192) At 31 March 2024 636,112 223,052 77,137 936JOI INet book value At 31 March 2024 32.161 86,071 9,073 127JOS At 31 March 2023 32,285 59,521 18,147 109,953 13. Debtors: amounts falling due within one year 31J.24 31.3.23 Trade debtors Other debtors Pr¢payrnenls and accrued incom¢ 269?75 1,962 35,760 169.942 5,151 25,651 307,097 200,744 Page 22 continucd...
Marfield Fellowshi Notes to the Financial Statements - continued for the Year Ended 31 March 2024 14. Creditors: amounts falling due within one year 31.3.24 31.3.23 Trade creditors Social security and other taxes Other credito Accruals and d¢fetred income 75J57 26,886 13,402 131,071 41.821 40,470 15.185 120,727 246,716 218203 15. Leasing agreements Minimum lease payments under non-cancellable opernting leases fall due as follows: 31.3.24 31.323 Within one vear Between one and five years In more than five years 133,774 484,591 436,390 118,797 430,185 493,399 1,054,755 1,042,381 16. Movement ill funds Net movement in llds At 31.3.24 At 1.4.23 Unreslrieted funds General f[d 991,633 161 J91 I,J53,024 Restrieted funds Restricted fund 25,000 25,(100 TOTAL FUNDS 991,633 186J91 1,17&024 Page 23 continued...
Ma rId Fellom'shi Notes to the Finaneial Ststements- continued for the Year Ended 31 March 2024 16. Moven)eDI in funds - contimued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fjjnd 2,464.063 (2,302,672) 161 J91 Restricted funds Restricfrd fimd 25,000 25,000 TOTAL FUNDS 2,489,063 (2,302,672) 186J91 Comparatives for movement in funds Net movement in fijnds At 31.3.23 At 1.4.22 Unrestricted funds General fund 1,051,641 (60,008) 991,633 TOTAL FUNDS 1,051,641 (60,008) 991,633 Comparative net movement in funds, included in the above are as follows.. tncoming resourc¢s Resources ¢xpended Movement in f(Jnds Unrestricted funds Gcneral fiuld 2,088,669 (1148,677) (60,008) Reslricted funds Restricted fund 16,116 (16,116) TOTAL FUNDS 2,104,785 (2.1fv1,793) {60,008) Page 24 continued...
Mavfield Fellowshi Notss to the Financial Ststements- eontlnued for the Year Ended 31 March 2024 l& Movemellt in funds - continued A cutrent year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 31.3.24 At 1.4.22 Unrestricted funds General fi]nd 1,051,641 101,383 1,153,024 Reslricted fund5 Restricted fund 25,0(M) 25,000 TOTAL FUNDS 1.051,641 126.383 1.178.024 A current year 12 months and prior year 12 months combined net movement in funds. included in the above are as follows: Inwming Resources expended Movement in funds Unrestricted funds Gencrnl fid 4,552,732 (4,451,349) 101,383 Restricted funds Restricted fund 41,116 (16,116) 25,(K)O TOTAL FUNDS 4,593.848 (4,467,465) 126,383 Restricted funds held at the balance sheet date relate to donations received in respect of th¢ purchase of a new motor vehicle that was ordered after the year end. Funds held at the previous balance sheet date related to donations and grants received in respect of staff retention and staff costs. Page 25 continued...
Mavfield Fellowshi Notes to the Fillancial Statements - continued for the Year Ended 31 Mar¢h 2024 17. Related party di5closur¢s There were no related party transactions during the year other than the transactions with the Trustees as stated in note 9 and the senior management personnel &s disclosed in note 10. Page 26