OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Croft Care Trust

2025-03-31-accounts

| |

|

Charity registration number 703194 (England and Wales) Company registration number 02516363

CROFT CARE TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

|

CROFT CARE TRUST

: :

| : : | | : | | | | : | : : | | |

?7

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs A Edmondson Mr P J Heath Mrs B Pearce Miss S Edmondson Mrs C Hibbert Charity number 703194 Company number 02516363 Registered office The Croft Hawcoat Lane Barrow in Furness Cumbria LA14 4HE Auditor JL Winder & Co Suite 6 Furness Gate Peter Green Way Barrow in Furness LA14 2PE Cumbria Bankers NatWest 143 Dalton Road Barrow in Furness Cumbria LA14 1WY Furness Building Society 51-55 Duke Street Barrow in Furness Cumbria LA14 1RT United Trust Bank 1 Ropemaker Street London EC2Y 9AW

==> picture [2 x 17] intentionally omitted <==

----- Start of picture text -----
|
----- End of picture text -----

==> picture [2 x 17] intentionally omitted <==

----- Start of picture text -----
|
----- End of picture text -----

Solicitors Livingstons Solicitors 9 Benson Street Ulverston Cumbria LA12 7AU

CROFT CARE TRUST

!

CONTENTS

|

Page
Trustees’ report 1-4
Statement ofTrustees’ responsibilities 5
Independent auditor's report 6-8
Statement offinancial activities 9
Balance sheet 10
Statement ofcash flows 41
Notestothefinancialstatements 12-26

e

\

| | CROFT CARE TRUST TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) | FOR THE YEAR ENDED 31 MARCH 2025 : The Trustees present their Annual Report and Financial Statements for the year ended 31 March 2025. The Financial Statements have been prepared in accordance with the Accounting Policies set out in note 1 to the ; Financial Statements and comply with the Charity’s Articles of Association, the Companies Act 2006 and : "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing : their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). | Objectives and activities The Charity's objectives are to promote the care, treatment, education and advancement of people with learning : and physical difficulties in Barrow in Furness. The objectives are carried out by providing long term care in a Nursing and Residential setting. The Charity has : 46 long term care beds (23 nursing and 23 residential) within a homely environment in which the Residents can , live a full and active life. The Charity's aim is to provide a safe and caring environment for Residents for as long as it is needed. Each , Resident receives individualised care of the highest possible standard based on current knowledge and : research, which promotes privacy, dignity and respect. : There has been no change in these during the year. : The Trustees have paid due regard to guidance in section 17(5) of the 2011 Charities Act issued by the Charity Commission in deciding what activities the Charity should undertake. | Strategic report The description under the headings "Achievements and performance" and "Financial review" meet the Company Law requirements for the Trustees to present a strategic report. Achievements and performance : Following the retirement of Mrs Julie Marklew at the end of April, the Management structure was altered to 1 : Registered Manager supported by a Deputy Manager. Steven Hibbert is the Registered Manager and Helen Waite is the Deputy Manager/Clinicai Lead. Together they lead a small team of Junior Managers. | Our last inspection by CQC was on 25th February 2022. We were classed as a 'Good' home. We continue to update and modernise and as Residents' needs change we adjust accordingly, keeping the ! accommodation maintained to a high standard. : At the end of April 2024, work began on the 5 bedroom ground floor extension to the Nursing Home. It was a : major building project and was completed at the end of March this year. It has enabled us to move 5 of the upstairs Residents to the new ground level bedrooms leaving only 3 of the Residents upstairs. This has greatly reduced the use of the lift. The remaining empty rooms can now be used for Offices and storage. | The property at Highlands Avenue continues to provide a regular source of income as both the ground floor 4 bedroom flat and the upper 2 bedroom flat continue to be occupied. | We continue to audit and review on a regular basis. The Staff Training Officer delivers and monitors the ongoing Staff training which is specifically targeted for the individual needs of all our Residents.

-4-

: : :

: Nursing Home and 23 within the Village. The year began with several vacancies in both the Nursing Home and the Village, by the end of the the year only two vacancies remained and these were filled shortly after year end. | The Charity received fees for providing this residential care of £2,510,365 (2024 - £2,638,487). The Charity has a significant Investment Portfolio and two rental flats. It received investment income of £62,560 | (2024 - £51,715) from interest and dividends on these investments, and rent from the rental property. | It also received donations and gifts of £11,243 (2024 - £114,474). Last year included two legacies. Donations of : £4,308 (2024 - nil) were for specific purposes and are shown as restricted funds.

| This resulted in total income of £2,593,687 of £2,593,687 £2,593,687 (2024 - £2,828,483) Charitable expenditure in the year totalled £2,689,567 Of this £2,120,382 (2024 - £2,260,261) was for staff wage ; included agency costs of £42,447 (2024 - £121,852). : figures being £69,756 (2024 - £78,844). | £24,946 (2024 - £19,361) was spent on raising funds.

| unrealised gains of £135,646). £135,646). | The property on Highlands Ave comprises two rental flats and is included at fair value as an investment property : on the balance sheet. The fair value adjustment was an increase in value of £20,000 (2024 - decrease of £107,754. The net movement in funds was an decrease of £95,565 (2024 - decrease of £92,361). The Charity has unrestricted reserves at the year end of £3,922,672 (2024 - £4,020,156) and restricted reserves : of £7,395 (2024 - £5,476). : It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be : maintained at a level of £1million. The Trustees consider that reserves at this level will ensure that, in the event | of a significant drop in funding, they will be able to continue the Charity's current activities while consideration is : given to ways in which additional funds may be raised. : The Charity has a significant Investment Portfolio which is managed by David Armstrong of True Potential Wealth | Management LLP. The new building extension has been funded from the capital element of the Investments and : where necessary further income was drawn to assist with the running costs of Croft Care Trust. There has been | an inevitable decrease in the value this year as a result.

| CROFT CARE TRUST TRUSTEES’ REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) | FOR THE YEAR ENDED 31 MARCH 2025

Financial review

During the year the Charity provided Jong term Residential care for 46 Residents (2024 - 46), 23 within the Nursing Home and 23 within the Village. The year began with several vacancies in both the Nursing Home and the Village, by the end of the the year only two vacancies remained and these were filled shortly after year end.

Other income amounted to £9,519 (2024 - £23,807) and included an insurance claim and income for student nurse training.

This resulted in total income of £2,593,687 of £2,593,687 £2,593,687 (2024 - £2,828,483) for the financial year.

Charitable expenditure in the year totalled £2,689,567 (2024 - £2,929,531),

Of this £2,120,382 (2024 - £2,260,261) was for staff wage costs to enable the care to be provided. This year this included agency costs of £42,447 (2024 - £121,852). Depreciation also accounts for a substantial part of these figures being £69,756 (2024 - £78,844).

Total expenditure for the year was £2,714,513 (2024 - £2,949,8671).

There were realised gains on Investments of £53,149 (2024 - £1,125) and unrealised losses of £47,888 (2024 - unrealised gains of £135,646). £135,646).

The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

:

i

CROFT CARE TRUST TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS’ REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2025

Plans for future periods

Further internal building work is required in the Nursing Home but was put on hold until the completion of the bedroom extension.

We have submitted plans for the necessary repairs and alterations to the Nursing Home lounge floor, flat roof and the Conservatory. These have been passed and include a pitched roof for the lounge instead of a flat one along with levelling the floor which has begun to show signs of subsidence in one corner. The doors and ramp leading to the outside patio from the Conservatory will be moved and ail the windows replaced to make it heat efficient. This work should begin in August/September. The building work is kindly being funded by the Ben Noble Trust.

We continue to strive forward with future planning. We changed our Charity Founding document to allow for older Adults care should this be needed in the future. We will continue to renovate and improve the buildings and facilities, with a view to making them work better for us and our Residents.

Structure, governance and management The Charity is a Company limited by guarantee and is governed by a Memorandum and Articles of Association.

The Trustees, who are also the Directors for the purpose of Company Law, and who served during the year and up to the date of signature of the financial statements were:

Mrs A Edmondson

Mr P J Heath

Mrs B Pearce

Miss S Edmondson

Mrs C Hibbert

:

Our Trustees are elected each year at our AGM. They are recruited for the skills they bring with them to help the Croft Care Trust. We are always on the look out to recruit more Trustees and ask that people who have the relevant skills apply via letter enclosing a CV. All new applicants will be checked through the Data Barring Service, Individual Insolvency Register, Register of Disqualified Directors and the Charity Commission. Subject to references and completed checks returning satisfactory results, applicants will be invited to join the Trustees.

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the Company and guarantee to contribute £1 in the event of a winding up.

New Trustees are given a guided tour during which they are informed of our history, the type of age group of Clients we have and what our aims are for the future of the Croft Care Trust. They are given a booklet, produced by the Charities Commission called 'The Essential Charity Trustee’ (CC3) which gives details of responsibilities undertaken and also the Memorandum and Articles of Association.

The Trustees of the Croft Care Trust are responsible for the business side of the Charity. The day to day running of the Charity is left to the Senior Management Team as follows:-

Mr S Hibbert - Registered Manager Helen Waite - Clinical Lead Nurse / Deputy Manager

A review board comprising Mrs Avis Edmondson, Miss Sarah Edmondson and Mrs Colette Hibbert has been established to set the pay and remuneration of the Charity's key Management Personnel.

There are no connected Charities or Branches and no material transactions with Trustees or related parties.

~3-

|

| | : : !

|

CROFT CARE TRUST

TRUSTEES’ REPORT (CONTINUED)(INCLUDING DIRECTORS’ REPORT AND STRATEGIC REPORT)

FOR THE YEAR ENDED 31 MARCH 2025

Funds held as Custodian Trustee

The Charity holds, as Custodian Trustee, a separate bank account which is not reflected in these accounts as the money belongs to Residents of Croft Care Trust. At the year end the total held was £36 (2024 - £1,331).

Auditor

Disclosure of information to Auditor

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the Auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the Auditor is aware of such information.

The Trustees’ Report, including the Strategic Report, was approved by the Board of Trustees.

|

Mrs A Edmondson Dated: ST. Septewl ‘Ce 2O ZS

‘

-4-

i

: i

CROFT CARE TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees, who are also the directors of Croft Care Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

.

: :

: |

:

| | CROFT CARE TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CROFT CARE TRUST

Opinion

We have audited the financial statements of Croft Care Trust (the ‘Charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and nofes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

in our opinion, the financial statements:

~ give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

/ Based on the work we have performed, we have not identified any material uncertainties relating to events or / conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

-6-

:: ;

CROFT CARE TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CROFT CARE TRUST

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the Trustees’ report.

: Responsibilities of Trustees As explained more fully in the statement of Trustees’ responsibilities, the Trustees, who are also the directors of the Charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to : enable the preparation of financial 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 Charity’s ability to : continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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 error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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 misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

==> picture [1 x 8] intentionally omitted <==

----- Start of picture text -----
:
----- End of picture text -----

-7-

| CROFT CARE TRUST | INDEPENDENT AUDITOR'S REPORT (CONTINUED) | TO THE MEMBERS OF CROFT CARE TRUST

: an understanding of how 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: : * 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: | * performed analytical procedures to identify any unusual or unexpected relationships; : * tested journal entries to identify unusual transactions; : * assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; : * investigated the rationale behind significant or unusual transactions; | In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures : which included, but were not limited to: | * agreeing financial statement disclosures to underlying supporting documentation; « reading the minutes of meetings of those charged with governance; * enquiring of management as to actual and potential litigation and claims; : * reviewing correspondence with relevant regulators and the company’s legal advisors; There are inherent limitations in our audit procedures described above. The more removed that laws and : regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. : Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. | Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may : involve deliberate concealment or collusion. : A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// | www. frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. Use of our report : This report is made solely to the charitable company’s members, 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 might state to the charitable company’s | members those matters we are required to state to them in an auditor’s report and for no other purpose. To the : fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitabie company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

| ;

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how how fraud might occur, by:

|

BJVober |

Sarah Roberts BSc FCA (Senior Statutory Auditor)

For and on behalf of JL Winder & Co, Statutory Auditor Chartered Accountants Suite 6 Furness Gate Peter Green Way Barrow in Furness Cumbria LA14 2PE Date: ... O6lialzo2s

: :

:

CROFT CARE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Restricted Total Total
funds funds 2025 2024
Notes £ £ E £
Income and endowments from:
Donations and legacies 3 6,935 4,308 11,243 114,474
Charitable activities 4 2,510,365 - 2,510,365 2,638,487
Investments 5 62,560 - 62,560 51,715
Other income 6 9,519 - 9,519 23,807
Total income and endowments 2,589,379 4,308 2,593,687 2,828,483
Expenditure on:
Raising funds 7 24,946 - 24,946 19,361
Charitable activities 8 2,687,178 2,389 2,689,567 2,929,531
Other 13 - - - 969
Total resources expended 2,712,124 2,389 2,714,513 2,949,861
Net gains/(losses) on investments 14 25,261 - 25,261 29,017
Netmovement in funds (97,484) 1,919 (95,565) (92,361)
Fund balances at 1 April 2024 4,020,156 5,476 4,025,632 4,117,993
Fundbalancesat31March2025 3,922,672 7,395 3,930,067 4,025,632

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

-9-

;

| :

: :

CROFT CARE TRUST

BALANCE SHEET

AS AT 371 MARCH 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 16 2,099,271 1,546,331
investment properties 17 320,000 300,000
Investments 18 1,428,737 2,024,316
3,848,008 3,870,647
Current assets
Stocks 20 4,687 6,666
Debtors 19 83,923 426,916
Cash at bank and in hand 266,794 280,965
355,404 414,547
Creditors: amounts falling due within 21
oneyear (273,345) (259,562)
Net current assets 82,059 154,985
Totaj assets less current liabilities 3,930,067 4,025,632
Income funds
Restricted funds 23 7,395 5,476
Unrestricted funds
General unrestricted funds 25 3,922,672 4,020,156
3,922,672 4,020,156
3,930,067 4,025,632

The accounts were approved by the Trustees on SECA... SEP cwilsex 20WwW

Mrs A Edmondson Trustee

Company Registration No. 02516363

-10-

:

|

: 7

|

| | |

| |

a

.

CROFT CARE TRUST

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

:

|

==> picture [490 x 278] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2025|2024| |Notes|£|£|£|£| |Cash flows from operating|activities| |Cash|absorbed|by|operations|29|(54,876)|(20,004)| |Investing|activities| |Purchase|of tangible|fixed|assets|(622,695)|(123,923)| |Purchase|of|investments|(154,563)|(166,933)| |Proceeds|from|disposal|of|investments|755,403|163,248| |Investment|income|received|62,560|51,715| |Net|cash|generated|from/(used|in)|investing| |activities|40,705|(75,893)| |Net|cash|generated|from|financing|activities|-|-| |Net decrease|in|cash|and|cash|equivalents|(14,171)|(95,897)| |Cash and cash|equivalents at beginning|of year|280,965|376,862| |Cash|and|cash|equivalents|at end|of year|266,794|280,965|

----- End of picture text -----

: | CROFT CARE TRUST : NOTES TO THE FINANCIAL STATEMENTS | FOR THE YEAR ENDED 31 MARCH 2025

:

Company information

Croft Care Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is The Croft, Hawcoat Lane, Barrow in Furness, Cumbria, LA14 4HE.

The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of lreland" and the Charities SORP “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of ireland (FRS 102)". The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2. Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

1.4 Incoming resources Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

==> picture [2 x 3] intentionally omitted <==

----- Start of picture text -----
|
----- End of picture text -----

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Care fee income is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, As the Charity is not VAT registered all figures shown in the accounts are gross.

| CROFT CARE TRUST | NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) : FOR THE YEAR ENDED 31 MARCH 2025 : 1 Accounting policies | 4.5 Resources expended ; Expenditure is recognised once there is a legal or constructive constructive obligation : third party, it is probable that a a transfer of economic economic benefits will be : the obligation can be measured reliably. | Expenditure is classified by activity. The costs of each each activity are made made up

| :

:

(Continued)

Expenditure is recognised once there is a legal or constructive constructive obligation to transfer economic benefit to a third party, it is probable that a a transfer of economic economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each each activity are made made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable fo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

Resources expended are accounted for on an accruals basis and are allocated to the relevant cost category.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings 2% straight line Fixtures, fittings & equipment 15% straight line Motor vehicles 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Assets with a cost of £500 or less are not capitalised.

1.7 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. 1.8 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

| CROFT CARE TRUST | NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) | FOR THE YEAR ENDED 31 MARCH 2025

| : 2 : | |

i

(Continued)

1.11 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.12 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic 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 arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

-14-

/

CROFT CARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

2 Judgements and key areas of estimation uncertainty

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

Fixed assets

The useful life and depreciation rate of tangible fixed assets is regularly reviewed and amended where necessary.

Valuation of investment property

The company has obtained a market valuation for the investment property from a loca! valuer who has extensive knowledge of the area.

3 Donations and legacies

==> picture [462 x 127] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Total| |funds|funds|2025|2024| |£|£|£|£| |Donations and|gifts|6,935|4,308|11,243|114,474| |6,935|4,308|11,243|114,474| |For the year ended|31|March|2024|114,474|-|114,474|

----- End of picture text -----

==> picture [462 x 49] intentionally omitted <==

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2025|2024| |£|£| |Income|from|care|fees|2,510,365|2,638,487|

----- End of picture text -----

:

-15-

| |

|

| :

| | |

CROFT CARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

5 income from investments

:

:

income from investmentsfrom investmentsinvestments
Unrestricted Unrestricted
funds funds
2025 2024
Rental income 20,431 9,349
Other income 37,835 37,833
Interest receivable 4,294 4,533
62,560 51,715
Otherincome
2025 2024
£ £
income from staff meals 460 550
Minibus income 4,398 1,026
Misc income 4,661 22,231
9.519 23,807

6 Other income

|

i |

CROFT CARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

7 Raising funds

Unrestricted Restricted Total Unrestricted
funds funds funds
2025 2025 2025 2024
£ £ £ £
Fundraising and publicity
Otherfundraising costs 59 - 59 536
Investment managementfees 13,675 - 13,675 15,148
Rental property costs 114,212 - 11,212 3,677
24,887 - 24,887 18,825
24,946 - 24,946 19,361

:

~17-

|

,

: :

: :

:

CROFT CARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

8 Charitable activities

2025 2024
£ £
Staffcosts 2,120,382 2,260,261
Depreciationand impairment
Provisions
Hygiene and surgical supplies		 69,756
78,111
19,567		 78,844
94,977
21,914
Rates and water 37,084 25,351
Fueland light
Insurance		 73,475
33,992		 86,906
32,593
Telephone
Cleaning and laundry
Waste disposal
Equipment maintenance
Propertymaintenance
Garden maintenance		 2,616
22,860
16,330
18,749
28,126
149		 2,406
23,258
15,831
25,981
69,086
337
Repairs and renewais -general DIY
Residents' welfare and entertainment		 38,707
5,088		 39,203
6,547
TV licence fees and sundries 3,040 2,227
Recruitment and training costs 42,180 21,225
Staffoveralls and expenses 9,658 22,502
Motor expenses
Registration fees		 8,670
13,959		 6,610
12,038
Office costs 34,341 48,814
Bankcharges 2,117 2,544
Payroll fees
Legal and professional fees
Accountancy and audit fees		 7,664
17,199
15,450		 10,428
11,754
7,897
2,689,567 2,929,534
Analysis by fund
Unrestricted funds 2,687,178
Restricted funds 2,389
2,689,567
Forthe yearended 31 March 2024
Unrestricted funds		 2,927,885
Restricted funds 1,646
2,929,531

PO

|

: NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) | FOR THE YEAR ENDED 31 MARCH 2025

CROFT CARE TRUST

==> picture [489 x 113] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |9|Net movement|in|funds|2025|2024| |£|£| |The|net|movement|in|funds|is|stated|after|charging/(crediting):| |Fees|payable|to|the|charity's|auditor:| |-|for the|audit|of the|charity's|financial|statements|6,600|6,300| |-|for|other financial|services|1,250|1,200| |Depreciation|of owned|tangible|fixed|assets|69,756|78,844| |Loss|on|disposal|of tangible|fixed|assets|-|969|

----- End of picture text -----

10 Trustees

None of the Trustees (or any persons connected with them) received any remuneration during the year.

41. Auditor's remuneration

The analysis of auditor's remuneration is as follows:

==> picture [465 x 99] intentionally omitted <==

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2025|2024| |£|£| |Audit|of the|annual|accounts|6,600|6,300| |Non-audit|services| |All|other|non-audit|services|1,250|1,200|

----- End of picture text -----

| :

:

CROFT CARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

42 Employees

Number of employees The average monthly number of employees during the year was:

Number of employees
The average monthly number of employeesemployees during the year was:
2025 2024
Number Number
Residential care 83 71
Managementand administration 2 3
85 74
Employment costs 2025 2024
£ £
Wages and salaries 1,862,901 1,931,397
Social security costs 153,884 141,804
Other pension costs 61,150 65,208
2,077,935 2,138,409
Agency staffcosts 42,447 121,852
The full time equivalent staffnumber is 69 (2024 - 69).
The number of employees whose annua! remuneration was £60,000 or more
were:
2025 2024
Number Number
£60,000to£69,999 1 2

Contributions totalling £11,072 (2024: £15,303) were made to defined contribution pension schemes on behalf of employees whose emoluments exceed £60,000.

13 Other

2025 2024
£ £
Net loss on disposal oftangible fixed assets - 969
- 969

:

:

:

CROFT CARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

14 Net gains/(losses) on investments

Unrestricted Total
funds
2025 2024
£ £
Revaluation ofinvestments (47,888) 135,646
Gain/(ioss) on sale ofinvestments 53,149 1,125
Revaluation ofinvestment properties 20,000 (107,754)
25,261 29,017

15 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

16 Tangible fixed assets

Tangible fixed assets
Land and Fixtures, Motorvehicles Total
buildings fittings&
equipment
£ £ £ £
Cost
At 1 April 2024 2,456,378 378,029 48,408 2,882,815
Additions 621,088 1,607 - 622,695
At 31 March 2025 3,077,466 379,636 48,408 3,505,510
Depreciation and impairment
At 1 April 2024 982,244 320,097 34,142 4,336,483
Depreciation charged in the year 49,129 16,929 3,698 69,756
At 34 March 2025 1,031,373 337,026 37,840 1,406,239
Carrying amount
At 31 March 2025 2,046,093 42,610 10,568 2,099,274
At31March2024 1,474,133 57,932 14,266 1,546,331

17 ‘Investment property

‘Investment property
2025
£
Fair value
At 1 April 2024 300,000
Net gains or losses through fairvalue adjustments 20,000
At31March2025 320,000

:

-21-

: | : |

: :

CROFT CARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

17.‘ Investment property

{Continued}

Investment property is the property at Highlands Ave which now comprises two rental flats. The ground floor was formerly the charity's sandwich shop with a rental flat upstairs. After closure of the shop this was converted to a second rental flat, completed in May 2023.

The fair value of the investment property has been arrived at on the basis of a valuation provided by Corrie and Co, Estate Agents, who are not connected with the Charity. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

18 Fixed asset investments

18 Fixed asset investments
2025 2024
£ £
Investments 1,428,737 2,024,316
Movements in fixed asset investments
Shares
£
Cost or valuation
At 31 March 2024 2,024,316
Additions 154,563
Valuation changes (47,888)
Disposals (702,254)
At 31 March 2025 1,428,737
Carrying amount
At 34 March 2025 4,428,737
At 31 March 2024 2,024,316
19 Debtors
2025 2024
Amounts falling duewithin one year: £ £
Trade debtors 7,688 3,368
Other debtors : 764 1,336
Prepayments and accrued income 75,471 422,212
83,923 126,916
20 Stocks 2025 2024
£ £
Stock 4,687 6,666

19 Debtors

-22.-

Po,

|

|

CROFT CARE TRUST

| NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

21. Creditors: amounts falling due within one year

:

i

2025 2024
£ £
Othertaxation and social security 45,385 50,967
Payments received on account 47,374 31,352
Trade creditors 83,586 61,624
Other creditors 65,843 72,549
Accruals and deferred income 31,157 43,070
273,345 259,562
22 Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect ofdefined contribution schemes 61,150 65,208
The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those ofthe Charity in an independently administered fund.
23 ~=Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to specific conditions by donors as to how theymay be used.
Movement in funds
Balance at Resources Transfers Balance at Incoming Resources Balance at
41 Apri! 2023 expended 4 April 2024 resources expended 31 March 2025
£ £ £ £ £ £ £
COVID-19
support
grants 5,525 - (5,525) “ - - -
Morrisons
garden grant 1,115 - (1,115) - - - ~
Restricted
donations - - - - 3,050 (300) 2,750
Restricted
fixed assets 7,122 (1,646) - 5,476 - (1,646) 3,830
Restricted
donations
(amenity
fund)		 - - - - 1,258 (443) 815
13,762 (1,646) (6,640) 5,476 4,308 (2,389) 7,395

Door mo

: |

:

CROFT CARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

24 Analysis of net assets between funds

Unrestricted Restricted Total
funds funds
2025 2025 2025
£ £ E
At 31 March 2025:
Tangible assets 2,095,441 3,830 2,099,271
Investment properties 320,000 - 320,000
Investments
Current assets/(liabilities)		 1,428,737
78,494		 -
3,565		 1,428,737
82,059
3,922,672 7,395 3,930,067
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 March 2024:
Tangible assets 1,540,855 5,476 1,546,331
Investment properties 300,000 - 300,000
Investments
Current assets/(liabilities)		 2,024,316
154,985		 -
-		 2,024,316
154,985
4,020,156 5,476 4,025,632
Unrestricted funds
The income funds of the charity include the following allocations which have been set aside out of
unrestricted funds by the trustees for specific purposes:
Movement in funds
Balance at 1 Increase Decrease Transfers Gains and Balance at 31
April 2024 losses March 2025
£ £ £ £ £ £
General
Security
Property
Investment property		 221,706
2,024,316
1,474,134
300,000		 2,551,544
37,835
-
-		 (2,649,230)
(13,765)
(49,129)
-		 3,822
(624,910)
621,088
-		 -
5,261
-
20,000		 127 842
1,428,737
2,046,093
320,000
4,020,156 2,589,379 (2,712,124) - 25,261 3,922,672

25 Unrestricted funds

The charity view the funds held in investments as ‘security’ funds, these are to ensure that the charity can continue to operate for the forseeable future. This reserve contains a minimum of one year's operating costs.

The net book value of the property and valuation of the investment property are shown separately as ‘property’ funds, on the basis that these funds are not readily available to the charity.

The general fund is the balance of 'free' reserves.

~24-

:

:

CROFT CARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

26 Operating lease commitments

At the reporting end date the Charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025 2024
£ £
Between two and five years 6,086 7,679

27 ~+Related party transactions

Remuneration of key management personnel The remuneration of key management personnel was as follows:

2025 2024
£ £
Aggregate compensation 163,377 221,650

28 Analysis of changes in net funds

The Charity had no material debt during the year.

| |

| |

CROFT CARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

:

29 Cash generatedfromoperations 2025
£		 2024
£
Deficit fortheyear (95,566) (92,361)
Adjustments for:
investment income recognised in statement offinancial activities		 (62,560) (51,715)
(Gain)/loss on disposal oftangible fixed assets
Gain on disposal ofinvestments		 -
(53,149)		 969
(1,125)
Fairvalue gains and losses on investment properties
Fairvalue gainsand losses on investments		 (20,000)
47,888		 107,754
(135,646)
Depreciation and impairment oftangible fixed assets 69,756 78,844
Movements in working capital:
Decrease in stocks 1,979 59
Decrease/(increase) in debtors 42,993 (27,060)
Increase in creditors 13,783 100,277
Cashabsorbedbyoperations (54,876) (20,004)