REGISTERED CO.VIPANY NUMBER: 02357285 {England and Wales) REGISTERED CHARITY YU.MBER: 701331 rt of th¢ Trnstees and Financial Statemen(s for the Year Ended 30 Se tember 2023 ror Ex eet Ltd. Co an Limited b Guaranltt Alexander Myerson & Co Limi(ed (Siatuthry Audiror) Alexander House 61 Rodney Street Livertx)oI Merseyside LI 9ER
Ex al and Administrative Information f r the Year Ended JO S¢ tember 2023 Trllstees A Gilmore D Broad S_mccabe C OrahaTn {appointed 5nr23) K MO15 {appoint¢d 5nr23) Company Secretary Mrs Jayne Lunt (appointed 6110r23) Charity Number 701331 Company Number 02357285 Registered office 151 Stanley Road Bootle L203DL Auditor Paul Bums Bsc Hons BFP FCA Alexander Myer50n & Co Limired Alexand¢r House 61 RIneY Street Liverpool Mer5eyside LI 9ER
ect Ltd. ntents of the Financial Statemellls for the Year Ended 30 St Itl)er 2023 Page Report of Ihe Trustees Statement ofTrustees' Responsibilities Report oflhe Independent Auditors Consolidated Statement of Finxnei81 Attivities 10 Consolidated Balance Sheet Charity Balance Sheet 12 Consolidated Cash Floiv Stalement 13 Notes to the Casb Flow Statemenl 14 Notes to the FiThaDcial Statements 15 to 28
Ex ort of the Trusiees for the Year Ended 30 Se tember 2023 The Irusiees present their report and finan¢ial staiements for the year ended 30 September 2023. The financial statements have been prepared in accordance wilh the accounting policies set out tn note I the fancial statements and comply wilh the charity's governing durnet. the Companies Aci 2006 and -A¢counting and Reporting by Charitie5'. Statement of Reconeded Piaclice applicable to charities preparing iheir accounts in accordance with ihe Financial Reporting Standard applicable in ihe UK and Rewblic of Ireland IFRS 102)"1os amended for accounting periods commencing frotn l January 2019). Objectives and activitie5 The charity's objects are to:_ 11 promote the value of ordinary livitlg opportunities and to eliminate ihe 5egre8ation and 5ttgmatisation of people who consider themselves to be disadvantaged by reason of their physica] ill health. mental health or learning disabiliiy. 21 provide support serviee5 With ihe aim of preserving and proieciing the health and well-being of people with physical health needs. mental health needs andlor learning di5abililies. 31 undertake the managernent of housing projeth5. includtng the re5ponsibiliiies of a management agent, which provide an alternative io institutionalised care for people with physical health needs. rnental health needs andlor learning disabilities. n seiiing our objectives and planning our activitie5 the trustees have given care] consideration to the Charity Commission's guidance on public benert. Our Vi51011 To be a market leader and the first choice provider of htgh quality services io people livino with learning disabilities allor experiencing mental health probleS. Expect Ltd. will achieve rhis by being acknowledged as a considerate, inspiring and empowering provider and employer- commilled io the aehievem¢nt of excellence with a reputaiion for'going the exrra mile. whilst, at the saTne titne, rnaintaining traditional values and principles. Our Mi$5iOn To itnprove Ihe quality of life and independence of people living with learning disabilities andlor mentsl health problems. Services will be delivered by a well-trained. experienced and 5ppOn1Ve team whose primary airn is to go Ihe extra mile in providing quality and flexible supp)rt in a way (hai promimes and enables independence and choice. Our Values Everyihing Expeci Lid. does will be driven by the following value5'.- E - Empathy X extra mile P- Partnership E- Ernptrwernient C- Compassion T - Truthfulness Empathy Expect Lrd. will endeavour to idelify with the aspiralions concerns and diffleulties of the people we work with i order to better understand their wishes and feelings. extra mile - Expect Ltd. has developed a well-¢arned reputhtion wilh Commissioners. u5er5 and relatives ofour services for perseverance and ¢enacity when ptoviding setvices to people living with learning disability andlor experiencing mental health problems. This. SU1n(lIY summed up as'going the extra mile,, will at ihe heart of our service development. Partnership - Expect Ltd. will work in partnership and collaknraiion with ihe people we support. their relatives, commissioning agencies and oihei likeminded Voluntary. Communiry and Faiih Secior orgartisaiions and groups.
Ex eet Ltd. rt orth¢ Trust¢e5 for the Year Ended 30 Se tember 21)23 Etnpowemeni Expect Ltd. will support and encourage the people il works wirh io make difficult and sometimes challenging, but safe. decisions in relation to all aspec of iheir lives_ Peoples, independence and autonomy will be entouiaged. as will iheir involvement and integration within their local communtties. Comps1On - Expeci Ltd. will strive to understand the individual needs of the people we work with and be driven by a desire to help. This will be deo$trated by our actions. aitLtLtudes and behaviours. Truthfuln¢s5 - Expect Lid. will be open and straightforward in its dialogue with service users, their relatives and employees in order to ensure ihai quality of care. transparency and honesty underpin all it5 aclions. The charity aims to schieve its objeets through the provision of the following services'.- 11 Registered Residential Services - the provi5LOll of small. regisiered ¢aTe homes for up io ihree people. 2) Supported Living Schemes - Ihe provision of supported living housing and 5UPPQrt Services to enable people to live as independently as pmible in homes of their choice. 3) Day Centre Services - the provision of support. advice and structured activity for people experiencing mental ill health. 4) Domiciliary care - the provision of ongoing outcom¢5-based interveniions and short ierni crisi5managernent. Achievements and performance Expect continue5 to provide high quality services despiie the many diificult challenges that exist within Adult Social CaTe, not least of which gap between ihe ndS that il ieceies and ihe real ¢ost of delivering cate. The charity 15 committed to enhancing the lives of the individuals ihat il supw>rts so thar ihey are able to make meaningful contyiblltions to the communities in which they live. The Strategic Business Plan for 2020- 2025 period deiails the planned gr0h in both the Charity's reach and offer. All stakeholder5 clearly value the ChaTity's adherence io irs faithful commitment to "Mteling Challenge with Expertise and Compassion" as well as to the closely related pledge lo 'Going the Ex¢r Mile" Boih promise5 uTrder5coie the Chariry's motivation to offer services to Service UseTS whose Challenging Behaviours may be regarded by other ptoviders as too much to handle. From Expeci's perspective such challenges are there to be Tnanaged in order w provide posiiive and person focused 5UPPOrt and SIStanCe. Expeci Ltd's BoweTsdale Resource Cenlre. which 15 a Day Service. conrinues to provide a safe 5pacE ill which service users can get involved in rneaningful activities that have a positive impact on their lives, mental health and well-being. The service is essentially a partnership between Expect and the Cheshire and Merseyside Integraied Care Board ICBI and the work of the Cenlre continues to be suppgrted via a grant from this Board. which is reviewed on an annual basi5. During the period, Ihis grant was suceessfully retained. In addition to the grant Expect has received funds from varlous donors foi specific proje¢t5. such as a gardening project. drum sessions and the setting up of a gym at the centre. with service useis educated around all aspects of health and well-being. The organisation remains Committed to the eihos of the Real Living Wage- however. Ihis has noi been possible during the period and support staff are on one of two ditren1 pay scales; the NMW and a higher rate ihal take5 into account relevant qualifications and working for the charity for l? months or more. All SuPrt staff are encouTaged to achieve &5 a minitnum the Level 2 Diploma in Health and Social Cère during Ihe firsl year of employrnent. Officers of Expect have continued to play an active role in ihe maintenance and development of broader ¢OTnmunify-based service5 and remain committed to offering a5Si51ance and 5UPPOrt to the umbrella organi5ation Sefton Council for VOlunry Services, of which it is a fornial tnember. Expeci's CEO and Senior Jmanagement Team work c105ely with the leader5 of other similar organis81ion5 0ratIng in the geo8fdphical area and colleagues in Local Council Commissioning team5, particulaTly those ID Conway, Denbighshire, Sefton. Know51ey and Livewl to drive up standards and maximise knowledge through effective parrner5hips. The r£cruittnent of suitable and ]notivated sraff coniinves to be a ]najor challenge and ihe Chariry has had to continue to use agency staff, which has had a sigTbifican( deirimenial impatt on Expect's financial p051tion.
ect Ltd. Re ort of the Trustees ror the Year Ended 30 St tember 2023 RecNitmeni continues to be based on attitude and behaviour and we have used the Immigraiion Ski115 Service for Ihe first time, which has resulted in a stronger and more diverse workforce. New staff are provided with a full company induciion and a comprehensive training progratnme of skill and knowledge-based learning, which is delivered both face-to-face and digitally- the training programme is constructed to be utilised in concert with their already identified appropriate personal values and ethics. In addition, the OTgani5ation accesses free trdining provided by the local auihoriiies with whom we work. The Expect Board of trustee5 have continmed lo meet regularly. In addiiion to bi.monthly meetings trustees are kept updated on a regular basis around any setious issues, including safeguarding. Financial review The operational defLciI foi Ihe group during the year was £44 Ik (2022= £248k). The main reason for the defieii is a consequence (Trf accounting for the amortlsation of goodwill for the yeaT of £61 k (2022.. £134k) and bad debis of £137k. Additionally, there has been Ihe use of &gen¢y siaff. capaciiy building and strengthening the operational tnanagcment team. Expect have also sadly lost a number of service useTS throughout the year, who either passed away or whose needs had changed, and fundeTS ¢on5ideied ihat other placeFnents were more appropriate for them. A5 at 30 Sepiember 2023 total groJJp fijnds of £1.8M (2022". £2.2M) were held all in unrestricted funds available for Ihe general purposes of the charity. Our primary sources of fundino are the fees received from Local Authority Social Service5 Depaments or from Integrated Care Boards. depending upon which body is responsible foi financing the care needs of the individual client. Upon referral clients are sessed and a Care Pl8n agreed with th£ funder5. L(1 Authoriries FOY set]aies for and these are not open to riegotiation. which is why one of the stsategic allns of the Chatity is to diversify inc(xne 5tream5 $0 thyt it 15 abk to IMDvide SUPFX)rt packages at rates that are set by Expecl ad aweed with the individual orother fider. Our financial slTalesy remain5 focused 8rowing our income.. we have already set ihe foundations for growth by exploring other inco]ne SIaS such as local fundTaising. legacies and grdnis and we are also l(K>king to itjfluence the Sector and become involved in research aTound Adult Soeial Care. This will maximise the poiential of ihe Group to remain su5tsinable moving fonvard. R¢serv¢s Policy Given the well-documented difficulties faced by Adult knial ca Piovideis it rernain5 difficult to maintain reserves. However. trustees give priority lo th¢ organisation tIng able to maintain an appmpriate level of reserves for the charity and have coneluded thai We Should aim for the following.. The trnsrees wish lo have 3 months rU[irtg COS tA5Ed the last 3 yfdrs geTherdl fund exF¢ndiNre in we of a major problem or delays in payments from our funders. The group's focus will remain OD organic growth. IDvestment S¢rgtegy •nd Performance The challenges that the sector is still facing following Ihe pandemic mean ihe trustee) have not yet been able io ¢onsider making investments. However, thii remains a piiority foi Ttustees to explore in the UPCDming fin8Thcial years. Risk Management The trustee5 have a risk m8nagerneni strategy which co]npri5es'. • an annual review of the princwal risks and uncertaintie5 thai the chariiy faces- the csiablishment of policies. systems and Predr"S to miiigate those risks identified in the annual review- and the implementation of PTocedures designed 10 minimise OT mamage any poienÉial impact on the charity should those risks tnaterialise. Financial sustainabiliry continues w be a major risk foi the charity. bui the maTha8e]nent of this risk ¢nsures that we maintain sufficieni working capital. Attention has also been focused on non-fillanciai risks, which are managed through relevant processes, accreditation5 and external advice and consultancy.
ort of Ihe Trustees for the Year Ended 30 Se tember 2023 Future Plan5 The Expect Group continues io work in liDe with is 5aiest flve-year Strategic Business Plan. which is regularly reviewed by and UFrfJated 85 appropriate. We coniinue to build on Ihe robust platforni Ihat has been established in receni years and the plan retains oui stiong ethical underpinnings and Yalues. The main aspirntional tenets during the five years will be.. - To con(iDue in the provision of services of ihe highey quality To nurtUTe and suppon the Exct Group's eihical and socially sen5iliV¢ IPPToich 10 delivering and commissioning services. To Seek opponutbilÉes 10 work in partnershipitollaboratively wilh commissioners. Service usetsleilizeTrs and other relevanc stskeholders. To be an etnployer of choice for both current and PTospeciive employees by haying a genuine lljtent to pay the highest possible rates of pay which will prove a str(mg inducemeni io recruitment. To give investmeni in local comrThunities a high-level status To coThiinue lo work foT a Social care marketplace where the ehoices and preferences of individu31s are given the highest level of imponance. WheTe choice is Seen as a k.ey driveT to the design and delivery of 5ervice5. To place the maximisaiion of ll)dividuals. boih Service U5ets. Citiz-ns and employees as a high-level objective. To acknowledge opportuniiies io acquire suirable poienlial members of ihe Fxpect GTQUP but to give prioriry ID Ihe Consolidation. strengthening and development ofthose services and in areas where the fjroup currenily operates. To ensure thai ihe Group's busllJe5s evolution ukes place within a stratrgic framework (hat places ihe highest value on retaining tigbt Collirol over quality as it is a central belief thai this wovidts the mosi effeciive means of securing the best. Structure. govern3n£e snd rnxnaeement Governing DocurneDt Expeci Ltd. 15 a companv lirnited guaraniee go¥eTned by its Memornndum and Articles of AsxKialion dated 20ih May 2005. It is regis*red with Companies House {No. 21579851 aThd wilh tht Chariiy Commis5i4)n IX"o. 7013i l}. Anvone over the age of18 can becoTne a Tn¢mber of Ihe charilable company and there are currenily5 members13 in 202?). each of whom agrees to colltribule £10 in the event of the chariiy winding The trustee5, who are also the direllors for the putpose of comF4ny law. and who seryed during the year and up to the date of signature of the financial siaiement5 were.. AThihony Gilmore Damon Broad Sylvia Mccabe Claire Graham {appointed 5nr23) Kevin Motris (appointed 517Q3) Appointment of trustees As Sei out in the Articles of A0¢]tiDn the trusiees a eleeted by the mcfflbers of the Charlb]e company attending athy Board Meeillig or Ihe Annual General Meeiing. Or£2nisation The Board of Trusiees. which shall be no k$5 Ihan 3 memters. adminssters the charity. The board nomially rncets bi-rnonihly. A Chief Executive is appointed by ihe tyu5tee5 to tnanage Ihe day-io-day operations ofihe charily. To facTlithie cffeclive operaiions. the Chief Execuiive ha5 delegated auihority, within the iernis of d¢legaiion appTov4 by the ttusiees. for operational matter) iNcluding seTl¢e delivery activity, finance, hllman sources and health and Safety. Trustee induction 2nd training New Irusie:s are provided with an Induciion Pack to tfiefthetn on", theii legal oblig81ions Mnd¢T charity and company law: (he Charity Commission guidance on public ner1[.. the content of the Memorandum and Anicle5 of Associaiion; the board and the decision-making proce55.' the strategic plan: receDI tinancial perfortnante. During the induction proce55 they tneet key employees and other trusiees. TrUet$ ate encouraged 10 attend appropriate exletnal tsaining eveDiS where these will facilitate the undertaking of their role. Pay policy for senior sta The Iiustees Consider Ihai the boaid of trustees and the senior management ieam comprise rhe key management pe¥sonnel of the ch8rity in charg¢ of direciing and controllin& tunning and opeTaling ihe chari¢y on a day-1041ay basis. AII tru51ee5 give of Their iirne fre¢]y and no tTusiees received remuner&iion in the year.
Ex ect Lt ort of the Trustees ror the Ye3r Ended 30 Se tember 2023 The pay of the senior Staff. excluding the ChiefExecutive. are reviewed annually in line with Expect's rernuneratiDn policy. The pay ofthe Chief Executive is reviewed annually Ihrough discussim berween ar¥J cha and CEO and is approved by ihe Board of Trustees. Auditor Alexander MyeTSOTh & Co Litnited were appoiThted as auditor io th¢ company. Disclosure of informatlon to auditor Each of the 1rn5(ees has confirmed that IheTe i5 no infornalion of which they are aware which is le¥Trt 10 th¢ oudit, but of which the auditor is unaware. They hav¢ further confirnied (ha( ihey have taken appropriate step5 to identify such relevani inforniation and to establish that the audilor is aware of such informalion. Small Company provi5lODS This report has been prepared in accordance with the s[11 provisions relatig small comtydnies withlltPart 15 of the Companies Aci 2006. The tru5tees' report W35 approved by the Board of Trusiees. A GIlOre Trustee Dated
Ex eet Ltd. Statement of Truslee's Res onsibilitie5 for Ihe Year Ended 30 Se tember 2023 The trustees (who are also the direcrors of Expeci Lid. for the purposes of Company lawl are responsible for preparing the Report of the Trustees artd ihe financial sraiements in accordance with applieable law and United Kingdom Accounting Standards (United Kingdom Genetally Accepted Accounting Praciice). Company law require5 the trustees io prepaie financial sraiements for each financial ye8r which give a true and fair view of ihe stale of affair5 of the charitsble company and of ihe incoming resources and application of resources. including the income and expenditthre, of the chatiiable company for ihai peri. In preparing those financial Statements. rhe Irusiees are required to select Suitable accounting policies and then apply them con5i51et]tly- observe the meihods and principles in the Charity SORP- make judgements and esiimaies that are reasonable and prudent.. slate whether applicable accounting sthndards have been followed. subject to at]y ma(erial departures disclosed and explained in the financial statemenis. Ptepare the financial statements on rhe going concern basis unless It is inappropriate to prtsume that the charitable company will continue in business. The Iru5tee5 are responsible for keeping proper accountino records which di%lose with reason&ble accuracy at any lirne the financidl position of the charitable cornpany and to enable ihem to ensure that Ihe financial stalements comply with the CoTnpanies Aci 2006. They are also responsible for safeguarding (he asseis of the charitable company and hence for iaking reasonable steps for the prevcniion and detection of fraud and oiher irregularities.
ort of the Inde endent AditOrS to the Vlembers of Ex Opinion We have audited the financial statements ofExpeci Limiied (Ihe 'charitable cornpany'l and lis 5ub5idiary Ith¢ group) f the year ended 30 September 20?3 which comprise Ihe Consolidated Staiemeni of Financial Activitie5. the Consolidated and Parent Balance Sheets, the Consolidated Siaiemeni ofcash Flows and noie5 10 the financial statements. including a summary of signilicant accounting policies. The financial reporting frnrnework that has been applied in their preparation is applicable law and United Kingdom Accouniing Standards {United Kingdom Generally Accepted Accounting Ptacticel. In our opinion the financial statements". give a true and fair view of the stare of ihe group's and charitable ¢ompany's affairs as at 30 September 2023 and of the group's incoming resources and application of resouwe& including its income and exnditre, for the year then ended: have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Prdciice: and have been prepared in aCcoanCe with the requirements of the Companies Act 2(K>6. Basis for opinion We conducted our audit in accordance with International Stsndards on Auditing IUK) (ISAS {UKI) and applicable law. Our reswjnsibililies under those standards are fiwther described in the Auditor5, responsibiliiies for the audit of the rit2ancial statements section of our report. We are independent of the charitable company in accordance with the ethical requiretnenls that are relevant io our audit of ihe financial stateTnents in rhe UK, including the FRC'S Ethi¢al Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtain¢d is 5uificient and appropriaie io provide a basis for our opinion. Conclusions relating to going concern In auditing the fin&ncial siatemenis. we have concluded that the tnjstees. use of the going con¢ern basis of accounting in th¢ preparntion of the financial siaiements is appropriate. Based on ihe work we have performed. we have not identified any marerFal uncertainlies relating to evenis or condifions that. individually or colleciively. may cast significknt doubt on the charitable company'5 ability to continue as a going concern for a period of ai leasi e1ve tnonths from when the financial sIe[Dents are authorised for issue. Our responsibilities and the responsibilities of the tTU5t¢es with respect io going concern are described in the relevant sections of this repon. Ernph85is of Matter We wish to draw your aueniion to Noie ?2 in the finan¢ial sthtements. ThL5 Ès in relation to accrued income and trade debtors amoun(ing to £283,700. On discovery this has been COTrecied as a prÈoryear adju5bnent with the resulting effect of reducing broughi forward funds by £283.7110. Other information The trustees are responsible for (he other infortnation. The other inforniaiiola comprises the informaiion included in th¢ Annual Report. other than Ihe fiThantial statelnents and gur Repon of the lftdependent Auditors thereon. Our opinion on the financial siaiemenis does not cover the other infomiarion and. exeept to the exienr othen¥ise explicitly stated in our report, we do noi expttss any fortn of assurance conclusion thereon. In connection with our audit of ihe financial statements. our responsibility is to read the other inforniation and. in doing so, consider whether the oiher infoTmation is materially inconsisienr with the financial statements or our knowledge obtained in the audit or othetivise appears to be materially missiated. If we idet]tify such material inconsistencies or apparent material missiatements, we ate required 10 det¢miine wherher this gives rise to a rnaterial misslaiemeni in the rit)ancial siatemenis themselves. If. based on the Work we have perfortned. we conclude that theie is a material misstatemeni of this oiher infOratIon. we ar¢ required to rewn thai fact. We have nothing to report in this regard. Opinions on other mgtters prescrib by the Companies Act 21M)6 In our opinion. based on the work undertaken in Ihe course of ihe audit." the information given In the Report of ihe TNsiees for the finaneial year for which the financial 5tatem¢nts are prepared is eon51Stent with the financial stsiemenis- and the Report of the Trustees ha5 been prepared in aCCoante with applicable legal requirements.
Re rt of the Inde ndent Auditors to the Mernber5 of Ex ct Lld. Mallers which we are required to report by exceptio In ihe lighi of the knowledge and understanding of ihe charitable company and its environment obt8ined in the course of the audit. we have noi identified tnaterial missthiements in the Report of the Trusiees. We have nothÈng io report in respect of the following matters where the Companies Aci 2006 requires us to report to you if. in (bur opinion.. adequate accounting records have T)Ot been kept or tUrnS adequatc for our audii have not been re¢eiv¢d from branches not visited by us. or the financial statements are noi in agre¢TneMt with the accouniing record5 and reiums- or certain disclosures of trustees. reTnlln¢ration specified by law are not made- or we have not received all the infomiaiion and ¢xpl#naiions we require forour audit. Responsibilities of trustees As explained more fully in the Statement of Trusiees. Responsibilities, the trustees {who are also the directors of the charitable tompany for the PUTposes of Company law) are responsible for ihe preparation of the financial siatemenis and for bcing satisfied that ihey give a true and fair view. and for 5u¢h iT]tetnal control a5 the tn]5tees determine is necessary to en&bl¢ th¢ prepararioii of financial statelnents ihai are free from material ThÈsstaiemeni. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's abiltty to continue as a going concem. disclosing, as applicable. matters related to going concern and using ihe going concern basis of accounting nleSS the truslees either intend to liquidate ihe charitable cornpany or to cease operation5, or have no realislic aliemative bui io do so. Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance 8boul whether the financial staiements as a whole are free from material tnisstaiemenL wheih¢r due to fraud or e]Tor. and to issue a Report of the Independent Auditor5 tha( includes our opinion. Reasonable assurance i5 a high level of assurdnce. bui is nor a guarante¢ that an audit eonducted in accordance wilh ISAS (UK) will alwa)s de(eci a marerial misstatetnent when it exisis. MissEai¢ments caTr arise from fvaud or eor and are considered Tnaterial if. individually or in the aggregaie. Ihey could reasonably be expected to influence the economic decisions of Use taken on ihe basis of these financial siatemenis. The extent to which our procedure5 are Cable of deiecring irr¢gularities. including fraud is detailed below.. As part of designing our audit. we determined maieriality and assessed the risks of material mis5tstement in the fsnancial statements, including how fraud may occur by enquiring of wnanagement of lis own consideration of fraud. In particular, we looked where management made subjeciive judoements, for exaTnple in respeci of Significant accounting e5titnaies thai involved making assumptions and considering fvrnre events thai are inherenily uncertain. We also considered potential financial or other pre5suies. OprtUnIty and motivations ftsr fraud. As part of this discussion we identified the internal ¢ontrols established to rnitigaie risks related to fraud or noncompliance with laws and regulations and how management moniior these proce55es. Appropriate pro¢edures included the review and testing of jOUTnals and key estimates and judgements made by anagelnertt. We gained an understanding of ihe legal regulatory framework applicable to the cotnpany and ihe industry in which it opeTates and considered the risk of acts by the company thar were in bleach of these laws and tegulation& including fraud. We made enquiries of management with regards to compliance with the above laws and tegulaiions to ensure thkt there were no breaches. A5 part of our audii we perfom)ed sample te5tin& agreeing the financial statements disclosure5 10 underlying supporting documentaiion and enquiries with management. We did not identify any key audit matters relaiing io irregularitie& includins fraud. We addressed the risk of managemeni override of iniemal controls ineluding testing journals and evaluation whether there was evidence of bias by thE direc10 that repr¢senied a risk of material misstatement due io fraud. Our audit procedure5 were designed 10 respond to risks of rnaterial missthrement in the financial 5taiements, recognising that the risk of not deieciing a material tnissiatement due to fraud is higher than the risk of not detecting one resulting from etTor. as fraud may involve deliberdte concealment. A funher description of our re5PQt15ibilities for ihe audit of the financial siat¢ments is located on the Financial epot1ing Council's websiie at .Ww.frC.ors.Uk,aUdirorsre5pQnsib1IbTie$. This description forn)s part of our Report of the Independent Auditor%.
Re ort of the Inde eNdent Auditors lo the Members of Use of our report This report is made wlely to the charitable company's members. as a b(Mly, in accordance with Chapter 3 of Part 16 of Ihe Companies Aci 2006. Our audit WO has been undertaken 50 thjt we rnighi siaie io the charitable company's members ihose mailers we are required to State to them in an auditors, report and for no other purpose. To the fijllest exient pemiitted by law, we do not accept or assume responsibility to anyon¢ other ihan ihe chaiitable company and the chariiable company's Tnemb¢rs as a body, for our audii WOTL for thi5 report. or for ihe opinions we have fornied. Paul Bums Bsc Hon5 BFP FCA (Senior Siaiuiory Auditor) for and on behalf of Alexander MyeTson & Co Lirnited (Ststutory Audiior) AleKander House 61 Rodney Street Liv¢rpool M¢r5eyside LI 9ER Date.. 2k
Ex Consolid8l¢d S¢atem¢nl of Trinancial ActLYities Incolne and Ex nditure Account for the Year Ended 30 Se tember 2023 30.9.23 Unre5tricied fund5 30.9.22 Totsl fiLnds Notes INCOME AND ENDOWMEwfs FROM Donations and legacies 1.592 16.462 Ch#ritabl¢ *¢tivities Residential Care Services Supported Living Seryi¢es Domiciliary Care Services Day Services 199.950 3.166.006 619,153 3.081,937 86.700 154.037 154.746 Other trading activities Investment inc(Mne Other incc>tne 1.499.160 2.959 26,768 .317.291 278 22,095 Total 5.051.181 5,297.953 EXPENDITURE ON Raising funds 1.240.897 1.151,006 Charitable activities Residential Care Servi¢es Supported Living Service5 Domiciliary Care Servi¢es Day Services 521.196 3.536.338 918.718 3,289,953 18,102 168,379 193.564 Total 5,491,995 5,546,158 NET INCOMEI(EXPENDITURE) (440,814) (248,205) RECONCILIATION OF FLP4DS Toi&l funds brought fonyard 2,183,327 2,431,532 TOTAL FUNDS CARRIED FORWARD 1,742.513 2.183,327 l-h¢ noies liJnii pan ofihe)¢ findnciLiI %iai¢iiieiiis
Ex Consolidated Balance Sheet JO Se iember 2023 30.9.23 Total funds 30.9.22 Total funds Noies FIXED ASSETS Intangihle asse Tangible assets 12 13 25,598 1.850,525 79.426 1887.343 .876.123 1.966.769 CURRENT ASSETS Debtors Cash at bank and in hand 646,779 185.063 825.460 285 098 83 1,842 1,110.558 CREDITORS Amounts falling due within one year 16 (449.702) (319,779) NET CURRENT ASSETS 382,140 790,779 TOTAL ASSETS LESS CURRENT LJABILITIES 2.258.263 2,757.548 CREDITORS Amoun15 falling due after tnore than otle year 17 {515.750) 1574.2211 NET ASSETS 1742,513 2,183.327 FUNDS Unrestricted fund5 20 1742513 2,183,327 TOTAL FUNDS 1742,513 2,183,327 The ancia Statements were opproved by ihe Board of TnJs(ees and authorised for issue on o.s.f..,129.i•t..... ond were signed on lis behaifby.. A Gilmore- Trusiee Company registration number.. 02357285 -li¢ noies 11)nn P*lll ()i-IIIL'5L' lindnLl411 siaienieni
Ex ecl Limited Charit B*l8nLY Sheet 30 Se ternber 2023 30.9 23 Unrestricied funds 30.9.22 Total nds Noie5 FIXED ASSETS Intangible ELsgets Tangible assets Investments 12 7.366 709277 1.124.308 222 739.217 1.124.308 14 1.840,951 1.863.747 CURRENT ASSETS Debtors Cash at bank 15 471.377 564,824 139,442 523.836 704.266 CREDITORS Amounts falling due within one year 16 (467.5461 (285,051) NET CURRENT ASSETS 56,290 419,215 TOTAL ASSETS LESS CURRENT LIABILITIES 1.897.241 2,282,962 NET ASSETS 1,897.?41 2.282,962 FUNDS Unrestricted funds 20 1,897,241 2,282.962 TOTAL FUNDS 1.897.241 2 282,962 The al sratements weie approved by the Board of Trustees and authoT15ed for issue on and were signed on its behalf by.. A Gilmore - Trnstee Cotnpany Registration No.: 02357285
ect Lt Consolidated C85h Flow Statement for the Year Ended 30 Se t¢mber 2023 30.9.23 30.9.22 Notes Cash flow5 from optrating aetivilies Cash generared from operdtions 4.253) 96 3581 Net c&sh (used inyprovided by operating activilies 4.253) 96,358) Cash flows fro¥n illVE%ting actiwilie5 Purchase of iangiblelitttangible fixed assets Interest received (41.702) 2,959 {21,218) 278 Net cash {used inyprovided by investing activtties 38,743) 20,940) Cash flows from financing activities New loans in year Loan repayments in year 57,039) 52,988) Net ¢ash lused inyprovided by financing activitie5 57.039) 52.988) Change in cash and £a5h equivaltnts in the reporting period Cash and cash equivalents at the beginning of the reporling period (100,035} {170.2861 285.098 455,384 Cash and cash equivalents st the end of the reporting period 185.063 285.098 IIL noiL¥ Iiirni part ot-Ihc5e fifti7nii11S1aletnLj11
ect Ltd. P4otes to the Cash Flow Staternenl ror the Year Ended 311 Se tember 2023 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 30.9.23 30.9.22 Net expenditure lor the reporting period (as per Ihe Statement of Financial Activities) Adjustments for: Depreciation and 2mortisaiion charges Loss on di5py)sal of fixed assets Inteiesi received Decrease in debior5 Increasel (Decrease) in creditors (440.814) 12482ts5) 132.349 211.470 10.397 (2781 29.531 99 2731 (2.9591 178.681 128.490 Net c8sh (used in)Iprovided by operations 96.358) ANALYSIS OFCHANGES IN IYET DEwr At 1.10.22 Cash flow AI 30.9.23 Net cash Cash at bank and in hand 285,098 100.035 185,063 285.098 l(M),035) 185,063 Debt Debts falling due wiihin l year Debts falling due after l yrar {57,042) 574,221) {1,433} 58.471 158,475) 515.750) 631.263 574.225) Total 346.165 42.997) 389.162)
Notes to the FiNanei&l Statements ror the Year Ended 30 Se ternber 2023 ACCOUNTING POLICIES Basis of preparing the fingDcRal slatemerftts The financial statements of the charitable company. which is a public benefit entity under FRS 102. have been prepared in accordance with the Chariiies SORP IFRS 102) 'Accounring and Reporting by Charities.. Staiement of Recommended Practice applicable (o charities preparing their acwtsn15 in accordance with the Financial Reporting Standard applicable in ihe bK and Republic of Irelattd (FRS 102) (effective l January 2019),. Financial Reporting Standard 102 'The Financial Reponing Standard applicable in the UK and Republic of Ireland, and the Companies Act 2(M)6. The finan¢ial 51aternents have been pPared under the hisiorical co convention. con501idalion The group financial slaiements consolidate ihose of the charity and its wholly owned subsidiary undertakings drawn up to 30 September 2023. The results of the charity's Su]dianeS have been incorporated on a line-by- line basis. A separdte Statement tsf Financial Activiiies and Incorne and Expenditure Accounr foi the parent charitable cotnpany ha5 not been presented because rhe Charity has taken advantage of the exemption afforded by section 408 of the Companies A¢1 2006. Income All income is recognised in the Statement of Financial Acriviiies onee ihe Charity has entiilement to the funds, it is probable that Ihe income will be received, and the amouni can be measured r¢liably. Income from govemrnent and other grants, whether 'capital' granis or 'revenue' grydnts. 15 Tecognised when the chariry has entiilemeni to ihe fynds. any perfomiance condiliotLS attached to the item(s) of income have been meL it is probable thai the income will be received. and the amount ran be measured reliably and is not deferred. Inierest on funds held on deFM)Sit is included when receivable and the amount Can be measured reliably by the hariry. this is nomially upon noiificatioD Of the interesc paid or payable by the bank. Dividend income is recognised when the rtght IO receive paytnent 15 established. usually when the investment is declared ex-dividend. Trading income is the amount derived from the provision of servi by the subsidiary. and slated after trade discounts. other sales iaxes and net of VAT. Expenditure Expendiwre is recognised once there is a legal or construciive obligation to make a payment io a third party. it is probable ihat sertlement will be required and the amouni of the obligation can be measured reliably. Expenditure is classified under the following a¢tiviry headings-. Residential Care Supponed Living Domiciliary Cate Day Strvices Irrecoverable VAT is charged a5 a cosl against ihe ac(ivity for which the expenditure was 1ftcued. Support costs are those function5 thai assisi the work of the charity bui do not direcily undertake ¢haritable aciiviiies. Support C05t5 include back-offi¢e costs. fa1)et, personnel. payroll and governance costs which support Ihe charities prograrnme5 and activiiies. These costs have been allocatrd between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocalEd are Sei out in note
eet Ltd. Notes to the Finaeial Statements continued ror the Year Ended 30 Se lember 2023 ACCOUNTING POLICIES- eolltinued IntaThgible fixed assets- goodwill Goodwill represenis the exces5 of the cost of acquisiiion of incorp)rated businesses over the fair value of nei 55ets acquired. It is initially reeognised as an assei ai cost and is subsequently rneasured at cost less accun]ulated amortisaiion and accumulated ifflpaimeni losses. Gwdwill shall be considered to have a finite useful life. and sh[ be amortised on a straighi line basis over five years. Any negative g(x)dwill is written off to ihe SOFA in the year of acquisition. Int8J)gible fixed 35setS Other Ihan gOlWIll Intangible asseis are stated at cost less accumulaied amortisation and accumulaied impaimient losse5. Intangible assets are amortised over their estsrnaied useful life. on the following basis= Software- 25 /0 per annum reducing balance Rcbrnnd Costs- 25 / per annuTn reducing balance Where facitsrs such as technological advanceEnent or changes in market price, indirdte that residual value or useful life may have changed. the residual value, usefijl life 01 amortisarion raie are amended prospectively to refleci the new ¢ircumsiances. The assets are reviewed for impaiment if the above facÉor5 indicate that rhe carry amount may be impaired. Costs associated with maintaiving compuiu software are re£ognised As expenses. as incurred. Impairment or rixed ass¢ts At each reporting end date. the cFtsrity reviews the carying amounts of its tangible and intangible assets to deterniine wherher there is any indication thai those assets have suffered an itnpairment loss. If any such indication exists. the recovernble amount of the assei is esiimated in order to determine ihe extenr of the inipairnient loss (if any). Tangible fixed assets Depreciation is provided ai the following annual rates in order to WTite off each a$5¢t over its estimated useful life. Freehold propety Long It3sehold Improvements io property Planr and machinery Fixtures and fittings Motor vehicles Computer equipment 20/0 on cost 2Vo on cosi 2/Tr on cost 250/(* on reducing balance 151Tr/o on reducing balance 250/0 on reducing balance 33IJh on reducing balance Tangible fixed assets are siaied al cost les5 accutnulated depreciaiion and accumulated iTllpairment losses. Cost iacludes the original purchase price. costs directty attribuiable ro bringing the asset into its working condition for ils iniended us¢. dismaniling and restoration cost5 and IKkm)wing costs capitalised. Land and buildings include freehold oifices and corntnunity cenrres. Land and building5 ar¢ stated at COSt les5 aeeumulaied d¢pr¢ciation and accumulared ifflpairtnent losses. The charitable company previously adopted a wilÉcy of rev1ng freehold land and buildings, and they were Stated at their revalued amount le55 any Subsequent depreciation and aeeurnulaied impaim)enl losses. The difference beNeen depreciation based on Ihe deemed cost charged in the Statement of Financial Activities and the asseis original cost is charged lo the Revaluation Reserve. Plant and machinery and fixiures and fittings and motor vehicles are stated at cost IE55 accumulated depreciation and accumulated impairn)ent losse5. Pa: 16
Ex eet Ltd. Notes to tbe Financial Statements- ¢otInUed ror the Year Knded 30 Se ¢eMr 2023 ACCOUP4TIYG POLICIES- eontIned Tangible fixed a5setS Subsequent cosis are included in the assets caryFng amoynt or reco7$ed a5 a separate asset, as appropriate. only when li is pn)bable thai economi¢ b¢n¢fit5 ass(Kiated with Ihe iteffl will flow to the chariiable company and the cost can be measured reliably. Repairs. maintenance and minor inspection costs are expensed, as incurtrd. Tangible assets are derecognised on disposal or when no futute econotnic ben¢fit5 are expected. On disposal, the difference ben¥een the net disposal proceeds and the carrying amount is recognised in the Statement of Financial A¢tivitie5. INvestrnents Investments are recorded at cost less any irnpairnient required. Taxation The charity 15 exempt from cotpoiaiion tax on its charitable aciiviiies. Charitable funds All income and expenditure together with gains andlosses a allocated to a specific charitable fund. Unresiricied funds are available for use at ihe discretion of the trustees in rtheranCe of their charitable objectives unles5 the fund5 have been designated for other purposes. Designated fund% are unre51ricted funds of Ihe charity whieh the trustees have decided ai their discretion to set aside to use for a specific purpose. Further deiails ofdesignated fund5 together wilh their purpose are set out in note ?0. Restricted fiknds are donations which the donor has 5pecifi¢d are to be used solely foi particular area5 of the charity's work or for specific projects being undertaken by the charity. Leases Rentals payable under operating leases. including any lease incentive5 CeIVed, are charged as an expense on a straight-line basis over the rM of the relevant lease. Revaluatlon reserve Gains or losse5 arising on ihe revaluation of individual fixed &sset5 (Trther than investment properties are credited or debited to g non-distributsble reserve known as the revaluation re5erv¢ (See no 20). Pension costs and other p05¢-relireTnent belltfits The charitable company OFerates a defined contribution pension scheme. Contributions payable to the charitable companYs pension %herne are char.oed to the Staterrtenl of Financial Activiiies in the period to which they relate. Group relief The financial statements have been prepared on the a5SUtnption thai group relief will be used to facilitate ihe transfer of corporation tax losses beeen companies in the group. No cornpensaiion is made in respe¢1 of any IDS5 relief between companies. Going concern At the time of approving che financial staternents. the rnstees have a reasonable expectation that the chariry has adequaie resources to coniinue in operational exi51ence for Ihe foreseeable future. Thu5. the istee5 coniinue to adopt the going concem basis of accouniing in preparing the financial staieTnents.
Ex Not¢5 lo th¢ Finsncial Ststernen15- fllIltinued for the Year Ended 30 Se tember 2023 DONATIOP4S AND LEGACIES 30.9.23 Unrestricted fibnds 30.9.22 Toial funds Donations and gifts Grants 1,592 2,029 14.433 1.592 16,462 Grants ieceived. included in Ihe aknve. ar¢ as follows.. 30.9.23 30.9.22 G¢n¢ral grant 14,433 OTHER TRADING ACTIVITIES 30.9.23 Unrestricted funds 30.9.22 Total fvnds Young People's Support Supported Living Housing support Domiciliary Care 445.115 702.3)6 145.520 206,189 237,852 744,199 150.112 185.128 1.499,160 1.317,291 INVESTMENT INCOME 30_9_23 Unrestricted nds 30.9.22 Total d5 Dep)sit account interest 2,959 278 INCOME FROM CHARITABLE AcfiviTIES Residenlial Care Service5 Support¢d Living S¢rvices Domiciliary Servites Care Package Income Client Contribution5 Properry Management fee5 Other income Service charge incorne 198.243 138 1.569 3,101,859 9.332 199,950 3.166.006
ect Lt(L Notes to the Fin4n¢ial Statemellts - eontinued for the Year Ended 30 Se tember 2023 INCOME FROM CHARITABLE AcfiviTIES- conlinued 30.9.23 Total activities 30.9.22 Total activiiies Day Service5 Care Package Income Client Coniribuiions Property Management fees Other income Service charge income 147,386 3,447.488 3.836.495 9.174 7.335 3,025 85.798 7,089 5.314 49,295 5,314 154.746 3,520,702 3.941827 RAISING FUNDS 30.9.23 Unrestricied funds 30.9.22 Total funds Staff costs Other costs - llon-tharitable Other costs - charitable DepTeciatio Loss on sale of assets 1.028,710 118.820 61,358 32,009 958,377 91,586 58,426 32,220 10,397 1740 897 1.151,006 CHARITABLE AcfiviTIES COSTS Support sls (see note 8) Dire Cost5 Totals Residential Care Services Supported Living Services Domieiliary Care Servic¢s Day Services 359,383 2.651.225 161,813 885.113 521,196 3,536,338 128.738 64.826 193.564 3,139,346 4.251.098 PaLL' 19
Ex ect Ltd. Notes to the FiDan¢ial Stalements- continued for the Year Ended 30 Se tember 2023 SUPPORT COSTS Governance cosis Management Totals Residential Care Service5 Supported Living Servi¢e5 Domiciliary Care Servi¢¢s Day Setvice5 143.800 867,100 18,013 18,013 161,813 885,113 46,814 18,012 64.826 1.057.714 54,038 NET IIYCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingl(crediting)'. 30.9.23 30.9.22 AuditOTS' remuneration Depre¢iation - owned asseis Def5Cit on disposal of fixed assets Goijdwill amortisatLO Computer software amortisation 12,000 68,921 12,000 77,217 10,397 134.179 73 60.972 2,456 io. TRUSTEES, REML'NERATIOIY A,WD BEf4EFITS There were no trustees, remunerdtion or other benefits for the yeaT ended 30 Septernber 2023 noi foi Ihe year ended 30 September 2022. Tru5tee$' expen5e5 There were no trustees, expenses paid for the year ended 30September2023 nor for the year ended 30 September 2022. STAFF COSTS 30.923 30.9.22 Wages and salaries Social security Costs Other pensioll costs 3.974,497 372.836 101,448 4,223.433 396,098 108.656 4,448.781 4728 187 The average rnonthly numberof employees during the year was as follows- 30.9.23 30.9.22 Key management personnel Oiher management & adttjinistration Client care and 5UPPOrt 22 129 22 144 154 169
Ex tet Ltd. Notes to the Financial SIAieThents - continued for the Ytar Ended 30 Se itber 2023 STAFF COSTS- eontinued The number of employtts whose ernployee benef115 (excluding etnployer pension costs) exc¢eded £60,(H)O was.. 30 9.23 30.9.22 £60.001- £70.000 £70.001- £80,000 £90.001 £100.000 12. INTANGIBLE FIXED ASSETS-GROUP Computer softwarel Rebrnnd Goodwill Toials COST At l (ktober 2022 Additions 733,318 5.264 9.600 738.582 9,600 At 30 September 2023 733.318 14.8fA 748,182 AMORTISATIOY Ai l October 2022 Charge foryear EIiTninaied on disposal 654.114 60.972 5,042 2,456 659.156 63.428 AE 30 Sewember 2(r23 715.086 7.498 722 584 NET BOOK VALUE At 30 Septembei 2023 18.232 7,366 25.598 At 30 Setxember 2022 79.204 222 79.426 INTANGIBLE FIXED ASSETS-CHARITY Computer Softwarel Rebrand COST At l Ociober 21Y22 Addiiions 5,264 9,600 At 30 Seoember 2023 14.864 AMORTISATION At l October 2022 Charge for year Eliminated on disposal 5,042 2,456 At 30 Sepiernber 2023 7,498 NET BOOK VALUE At 30 September 2023 At 30 September 2022 222
ct Ltd. Note5 to the Financial Statements - tontinued for the Year Ended 30 Se tember 2023 13. TANGIBLE FIXED ASSETS- GROUP Improvem¢nts to property Freehold property Long leasehold Planr and machinery COST At l Ociober 2022 Additions .708,476 655,086 12J.924 20,278 At 30 September 2023 1.733.606 655.086 123.924 DEPRECIATION At l October 2022 Charge for year 361,193 33.469 166,701 101.289 15.034 17.117 632 At 30 September 2023 394.662 179.80J 116.323 17.749 'ET BOOK VALUE At 30 September 202) 1.338.944 475,283 7.601 2,529 At 30 September 2022 1.347.283 488,385 3.161
Ex ecl Ltd. Iyotes to the Financial StateffteNts- wntinu¢d lor the Year Ended 30 Se ternber 2023 13. TANGIBLE FIXED ASSETS- continued Fixture5 Motor Yehi£le5 Compuier equipment fittin85 Totals COST At l October 2022 Addiiions 97.024 6.972 16.503 990 2,622,281 32,102 At 30 Septetnber 2023 103.996 16.503 990 2,654,383 DEPRECIATION At l Ociober 2022 Charge for year 75250 5,820 12,718 757 669 107 734,937 68,921 At 30 September 2023 81.070 13.475 776 803,858 NET BOOK VALUE AI 30 Sepiember 2023 22,926 3,028 214 1,850,525 AI 30 September 2022 21.774 3.785 321 1,887,343 Two of Expect Ltd's freehold properties were revalued on an open market basis as at 31 March 2014 by Sutton Kersh, Chartered Valuaiion and Building Surveyors. The freehold and leasehold properties held by Housing Iniiiaiives IU.K.) Limited were valu£d on 31 March 2009 by Collertons Surveyots and were valued ai marker value assuming vacanr possession. The trustees are not aware of any material Changes in value since ihe last valuaiion. There i5 8 first legal charge over 7 St Edmond's Road. 14115 Tarbrock Court, 445 Stanley Road and I Hougoumount Grove. The bank loan5 secured on Ihe propenies amokjnied to £537.761 which is 48•/0 of the net book value of the properties. Social Investment Business Ifornierly Fuiurebuilders England Limited) has a first legal charEe over 2-8. TANCIBLE FIXED ASSETS- CHARITY Tmprovemenis io property Fixiures and rinings Freehold property Motor vehicles Totals COST At l October 2022 Addiiions 81M),082 123.924 94.621 6,972 16,503 1,035,130 6,972 At 30 September 2023 800,082 123.924 101,593 16.503 1.042.102 DEPRECIATIOIY At l October 2022 Charge for year 109.058 15.301 101,289 15.034 72.848 5.820 12.718 757 295,913 36.912 At 30 Septetnber 2023 124.359 116.323 78.668 13,475 332,825
t Lld. Notes to the Finaneial Stalemenis - eontinued for the Year Ended 30 St tember 2023 NET BOOK VALUE At 30 S¢ptetnbEI 2023 675.723 7.601 22.925 3.028 709 277 At 10 September 2022 691.024 22.635 21.773 3,785 739,217 The carrying value of land included in Freehold Property is £35.000 (2022.. £35,(K)O} Two of Expect Ltd's freehold properties were revalued on an open market basis as at 31 March 2014 by Sutto]] Ketsh. Chartered Valuation and Building sutveYo. The trustees are not aware of any rDat¢rial changes in value since the last valuation. 14. FIXED ASSET If4VESTMENTS-CHARITY Unlisted investments MARKET VALUE Ai l Ociober 20? l and 10 Septernber 2023 1.124.308 NET BOOK VALLE At 30 SeptembeT 2023 1.124.308 At 30 September 2022 1.124,308 There were no investment assets outside the UK. The total atnount of £1.124.308 cornprises of inv¢simenis in Group Subsidiaiies. Deiails of the charity's subsidiaries at 30 Seplember 2023 are as follow5-. Name of undertaking Access to Care Lid Reg. office England & Wales Nature of business Housing SUp)rt For Young People t)o]niciliary Care Supponed Living tk>miciliary Support Dortnant Training Services to Health & Social Care Housing Support for People with Learning Disabilities and Other vulnerdble people Class of shares O/(* Held Ordinary £1 100 Rowan Care Ltd Focus Care Wales Ltd England & Wales England & Wales Ordinary £1 Ordinary £ I 100 100 Focus on Work Ltd Your Future Trnining Soluiions Lid Housing Iniiiatives (UK) England & Wales Ltd England & Wales England &. Wales Ordillary £1 Ordinary £1 100 100 Company Limited by Guaranree 100 Name of undertaking Access 10 Care Ltd Rom'an Care Ltd Focus Care Wales Ltd Focus on Work Lrd Your Future Training Solutions Ltd. Housing Initi&tives (UK) Lrd ProfiV(1055) £ Capital & Reserves £ 124.408 106,429 77,168 218.782 200 (19,9411 569.012 105.762 {41.983)
Notes to the FillaNeial Statements - ¢onlinued for the Year Ellded 30 Se tember 2023 15. DEBTORS: AMOUNTS FALLING DUE WITHINONE YEAR- GROUP 30.9.23 30.9.22 Trade debtors Oiher debiors Tax Prepaymenis and accrned income 343.296 288.964 230,211 537,023 44.631 13,595 14,519 646.779 825 460 DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR- CHARITY 30.9.23 30.9.22 Trade debiors Amounts owed by group undertaking5 OtheF debtors Prepayments and accrued incotne 142,616 89,118 226,839 12,804 61,689 46,670 443.242 471.377 564,824 16. CREDITORS: AMOLNTS FALLING DUE WITHI,N ONE YEAR- GROUP 30.9.23 30.9.22 Bank loans and overdrafts (see note 18) Trade ciediiois Social security and oiFLer teS Other creditors Accruals and deferred income 58.475 176,218 152,285 ?9,780 32.944 57,042 72.209 108.624 46.256 35.648 449,702 319.779 A number of our clients haye been unable t(Tr open personal bank accounts due to difficulty in appointing suitably independent advocates. As a result, Expect Ltd Continues to receive all benefits and OnIeS due to some ¢lienrs. In order io proiect the long-term financial posiiion of ihese clients, Expect Ltd. has operated a specially designated Client Money Account with th¢ Buckillgham Building Sociery to hold these anceS. As ai 30th Septetnber 2023 £104.691 (2022_. £332226) was held for clients and this atnount has been excluded from the cash at bank and in hand figure and fro trade credilors. CREDITORS: AMOUPITS FALLING DUE WITHIN Of4E YEAR-CHARITY 30.9.23 30.9.22 Trade credttors Amounts owed to group undertakings Social security and other taxe5 Other creditors Accruals and deferred income 166,846 127,291 129,490 27,919 16.0( 61,991 76.883 92,151 35,097 18,929 285,051
Ex r*otes lo Ihe Financial Stal¢m¢nls- continued ror the Year Ended 30 Se tember 2023 17. CREDITORS: AMOUliTS FALLING DUE AFTER MORE THAN, ONE YEAR- GROUP 30.9.23 30.9.22 Bank loans {see note 18) 515 750 18. LOANS- GROLP An analysi5 of the maturity of loans is given below= 30.9.23 30.9.22 Amounts falling due within one year on demand= Bank loans 58,475 57,042 Amounts falling between one and ye8rs.' Bank loans- 1.2 years 248,655 247 295 Amounts fallÈn8 due in more than five years.. Repayable by instalrnellts". Bank loans mort 5 yr. by instal 267.095 326.925 Security ha5 been given in respect of bank loans and overdtafts of £537.761 {2022.. £585.193}. The bank borrowings Wlth Lloyds Bank of £333.186 (2022.. £368.84]) are secured by a fLxed and floating charge over the four of the freehold properties. The bank borrowings with Social Investment Busines5 (formerly Futurebuilder5 England Lilted) of £204,575 12022.. £216.350) are secured by a fixed and floating charge over the leasehold PPertIes. 19. LEASING AGREEMENTS-GROUP Minimum lease payments under non-cancellable Opeing lease5 fall due a5 follows= 30.9.23 30.9.22 Within one year Behveen one and five years 21245 25,772 24,834 495 47.017 25,329 PIlL¥ 6
ect Ltd. Notes to the Fin* tial StaleffieTrts- continued for the Year ded 30 Se i¢mber 2023 20. MOVEMENT IN FUNDS- GROUP Net movernent funds Ai .10?2 At 30 9.23 Unrestricted IuAds General fund Revaluation reserve Fixed asset fund Project developtnenl fund 805.955 421.132 881.240 75.0(Ml (458,5721 {9,785) 27,543 347.383 411.347 908.783 75,000 2,183,327 440 814) 1,742,513 TIYT AL FUNDS 2 183 327 440 814 1742513 The Irustees have designated certoin fvnds lo a551St in rhe financial management of the chariiable company. In order to a551St the trustees to ideniify the free cash reserves, a designated Fixed Assei Fund should hold the value of both intangible l¢xcluding giK)diYilll and rangible fixed asset5 It any loan balance used 10 acquire fixed as5¢ts and less ihe Revaluation Reserve as ai each year end. The Project Development Fund is to fund initial cosis in exploring and starting new projects. MOVEMENT IN FUNDS- CHARITY Net ovetnent in fund5 At 1.10.22 At 30.9.23 Unrestricted funds General fund Revaluaiion reserve Fixed assei fund Project development fund 1.468.523 61222 678217 75.0(Ml (362.925) (1.475) {21.321) 1,105.598 59.747 656.896 75.000 2,282,962 385.721 1,897,241 TOTAL FUNDS 2 282 962 385 721 1897 241 The trustees have designated cenain funds io assist in the financial management of1he chaiilable company. In order to assist the trustees to identify ihe free cash reserves, a designated Fixtd A5sei Fund should hold the value of both intangible (excluding g)dwill) and tangible fixed assets less any loan balatlce used to acquire fixed assels and less the Revaluaiion Reserve as at each year cnd. The Project Development Fund is io fund iniiial cosis in exploring and staning new projecis. 21. ANALYSIS OF liET ASSETS BETWEEN FUNDS- GROUP Unresrricied Designaied Revaluation Restrve Total Intangible Fixed Assets Tangible Fixed Assets Current Asset{Liabl1llIe5) Long ter Liabilitie5 18232 7.366 1.439.178 26,374 (489,1351 25.598 1,850.525 382.140 {515,750) 411,347 355.766 (26.615) TOTAL FUNDS 347.383 983.783 411,347 1,742,513
ct Ltd. Nijtes lo the Fin2ntial Statements- continued lor the Year Ended 30 Se tember 2023 ANALYSIS OF NET ASSETS BETWEEN FUNDS-CHARITY Unrestricted Designared Revaluation Reserve Total llltangible Fixed Asse Tangible Fixed Assets Investments Curreni AsSet{Liabillljes) 7.366 649.530 7,366 709,277 1,124,308 56.290 59,747 1.124.)08 118.710) 75,000 TOTAL FUNDS 1.105.598 731896 59.747 1,897,241 22. PRIOR YEAR ADJUSTMEDrr During the year an ermr was found which dated back 10 financial year ended 30 SeptefftbeT 2021. This was in relation t accrued income and trade debtors amounting to £283,7(K). On discovery thi5 has been cotrected as a prior year adjustment with the resulring effect of reducing brought forward funds bj £283,700.