Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
Company Number: 2348350 Charity Number: 801122
THE ORCHARD TRUST (Limited by Guarantee)
FINANCIAL STATEMENTS
For the Year Ended 31 March 2025
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
C O N T E N T S
| Page | |
|---|---|
| OFFICERS AND ADVISORS | 1 |
| CHAIRMAN’S REPORT | 2 |
| REPORT OF THE TRUSTEES | 3 - 10 |
| INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS | 11 - 13 |
| STATEMENT OF FINANCIAL ACTIVITIES | 14 - 15 |
| BALANCE SHEET | 16 |
| STATEMENT OF CHANGES IN EQUITY | 17 |
| STATEMENT OF CASH FLOWS | 18 |
| NOTES TO THE FINANCIAL STATEMENTS | 19 - 29 |
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) OFFICERS AND ADVISORS FOR THE YEAR ENDED 31 MARCH 2025
| Trustees | Mr N Budd |
|---|---|
| Mr B Kaye | |
| Mrs J Morris Kaye | |
| Mr R Morgan | |
| Mrs C Smart | |
| Mr C Lloyd | |
| Mrs E C Bell | |
| Mr P E Wakeley | |
| Chief Executive Officer | Mrs C Andrews |
| Registered and Administrative Office | The Orchards |
| Valley Springs | |
| Central Lydbrook | |
| Gloucestershire | |
| GL17 9PP | |
| Auditors | Hazlewoods LLP |
| Windsor House | |
| Bayshill Road | |
| Cheltenham | |
| GL50 3AT | |
| Solicitors | Harrison Clark Rickerbys |
| Ellenborough House | |
| Wellington Street | |
| Cheltenham | |
| GL50 1YD | |
| Bankers | Lloyds TSB |
| 19 Eastgate Street | |
| Gloucester | |
| GL1 1NU | |
| Company Number | 2348350 (England and Wales) |
| Charity Number | 801122 |
-1 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) CHAIRMAN’S REPORT FOR THE YEAR ENDED 31 MARCH 2025
This year has been one of celebration as the Trust entered its 35th year with hope and a drive to take the charity forward, marked by a wonderful black-tie ball where awards were given out and clients and their staff danced the night away.
However 2024/25 has again been a difficult year for the care sector, one in which the Trust has worked tirelessly to ensure that finances meet the needs of all clients at the same time battling increased costs from all quarters. Plans have been put in place to increase revenue from non-residential areas, make the most of all our facilities and at the same time continue to develop and enhance the facilities that the Trust offers to clients, most notably the development of Sevenoaks.
During this difficult year all the local authorities the Trust deals with have continued to be supportive particularly in ensuring bills are paid promptly.
An ageing resident population, with all the increased risks and challenges that provides, inevitably results in individuals reaching their natural demise. This year we said farewell to Alan Thompson, having lived with the Trust for 24 years, initially at Offa’s Dyke then at Orchards, and had the joy of welcoming Elin and Ashley to the Orchard Trust family.
On a financial basis, although we ended the year with a deficit of £45,368, we have not had to eat into the invested funds and are looking into secured arrangements to cover the cost of the extension to Sevenoaks should it be decided that it is in the best interest of the Trust not to use our capital reserves to cover the costs.
The next few years will continue to be challenging for all care providers, ourselves included. However, we have a strong leadership team, a dedicated staff group, volunteers and a community that values our services.
Nick Budd Chairman of Trustees The Orchard Trust
Date: 2/12/2025
-2 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their report together with the audited financial statements (“accounts”) of the company for the year ended 31 March 2025.
PURPOSE AND IMPACT
The Orchard Trust (referred to as the Trust from now on) was established in 1989 by a group of parents looking to improve care options for their children and others with learning disabilities. Having grown over the past 35 years the Trust provides residential care, supported living homes within the Forest of Dean, along with rebound therapy, a hydro pool therapy and day services based on a working smallholding at Stowfield which is open to all who may wish to benefit from the services offered.
To see more about our homes and facilities please visit our website: www.orchard-trust.org.uk
Philosophy of the Orchard Trust
Orchard Trust believes people with disabilities have the same rights as any other individual and support each to enjoy the services and opportunities available to any other member of the community.
Values
Kindness - We treat others and ourselves with gentleness, warmth and care, focusing on the little things that really matter.
Respect - We look after ourselves, each other, our places and the environment.
Individuality - We recognise one another for the people we are, understanding and accepting preferences and beliefs to ensure personalised care and support.
Working together - We believe the best results are gained through working as a team, valuing suggestions and encouraging new ideas as we strive to continuously improve the care we provide .
The Trust’s values reflect the intrinsic behaviours of staff within the organisation and daily decisions are enhanced by the ongoing focus provided by the values.
Objectives (Mission)
We are a consistent and long-term place for life for people with disabilities, with a warm and friendly environment where each individual is supported to realise their ambitions.
Activities, Achievements and Performance
Our mission is achieved by working towards the following aims:
-
Consistently look for innovation and fresh ideas to improve the care we provide
-
Trust staff are increasingly using and becoming more familiar with Care Control, our new digital care planning system. Uptake of the system has been gradual but steady, especially taking into account the impact of various changes in management across the Trust, and the time it takes for each member of staff to learn how to use a new system effectively
-
The senior team have worked closely with Gloucester County Council firstly helping them to improve their guidance for providers in managing client finances, and secondly in piloting and reviewing their new quality monitoring framework. This has allowed the ethos and best practices of the Trust to be shared with a greater number of social care organisations in the county.
-3 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
-
Ensuring each staff member has the skills and attributes of our values through effective recruitment, ongoing support, development and shared vision
-
There has been significant change in the leadership teams of the Trust this year. The Trust’s Senior Management Team has been restructured following the retirement of Ant Jeffers, Head of Support and Operations and the departure of the training manager. Roles and tasks have been reallocated and two internal promotions have filled these posts, Tony Lafford is now Head of Support and Liz Watkins is Training & Operations Manager. Charlie Sterry has become Manager of Hilltop and Supported Living and, following the resignation of Rob Wilcox, Suzann Scotford was promoted to Sevenoaks Manager. These two changes have allowed a further internal promotion of Hannah Robertson to Charlie’s Deputy Manager and the external recruitment of Amelia Pace as Deputy Manager at Sevenoaks.
-
Stowfield also had a change of management with Sabrina Downie taking up the post of Manager for the site following Bianca Bertalot’s move to Stowfield Development Manager.
-
These leadership changes have ensured the right skills and expertise are in place to put the Trust in a strong position to move forward into the challenges we are likely to face in the coming years.
-
We continue to develop new and existing staff through the use of funded apprenticeship schemes and our ability to use the apprenticeship levy pot of our supply chain. In 20204/25 this amount was £12,000.
-
We continue to use values-based recruitment to attract staff who share our stated values and conduct an annual staff survey to gauge employee satisfaction and find ways to improve. All staff follow a programme of online and face to face training to equip them for their roles and the needs of those we support.
-
Building financial resilience through diversification of income, internal efficiencies and the provision of added value through alternative funding
-
In April 2024 we invested in a new accounting system, Xero, creating efficiencies in the ways of work along with more modern and analytical software providing improved reporting and accessibility.
-
Increases to the percentage of Employer National Insurance rates, along with a significant threshold drop have increased our expenses by approximately £160,000. These additional costs have not been considered by local authorities when calculating annual uplift figures so will be borne by the Trust. Further efficiencies are planned; however, these will be balanced between the financial benefit and any negative impact on clients before decisions are finalised.
-
We have been working hard to build financial resilience by diversifying income sources. In addition to traditional grant funding we are attracting corporate donations, raising funds through events and online campaigns and supporting our network of donors. We raise income through chargeable services including Day Service and Therapy Suite.
-
Donations throughout 2024/25 totalled over £212,000, including a very generous donation from the Chris Wiltshire Trust of £125,000.
-
We will seek to continue diversifying income streams in the forthcoming years to mitigate the impact of increasing costs and lower than necessary uplifts from Local Authorities.
-4 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
-
Developing our homes to ensure we continue to meet the need of our clients
-
Progress on planning the Sevenoaks extension continues.
-
The front garden at Orchards was redesigned in Spring 2025, removing the decaying ramps and creating a new ramp, flat path, accessible gardens and closer parking area which has made life significantly easier for clients and staff.
-
Expanding the reach of our Stowfield Site to benefit the wider community
-
Bianca’s new role gives space for research and networking to allow the Stowfield site, especially the open spaces, to adapt and develop to meet the needs of the community. The investment in a dedicated manager marks a commitment to maximise the reach of the Stowfield site for the community and the Trust’s clients.
-
Planning for OrchardFest, our first accessible music festival designed for people with learning disabilities began, with the festival itself being held on 20[th] August 2025.
-
Increasing the positive and reducing the negative impact of our work on the environment
-
A carbon audit was undertaken in Autumn 2024, reviewing 2023/24’s emissions, as part of a project fully supported by The Growth Hub. The resulting emission figure was 116.9 tonnes of Carbon Dioxide and its equivalents (CO2e) within the year. This covers scope 1 and 2 emissions, direct and indirect energy use respectively. Further calculations covering sections of scope 3, including business travel, staff commuting, water usage and waste disposal, increase this figure to 138.1 CO2e. Further work to understand our procurement and how this impacts scope 3 emissions will be undertaken in the upcoming years. Benchmarking to similar organisations remains difficult, due to the diversity and uniqueness of services offered by the Trust, however for context an average UK home produces 26 tonnes of CO2 equivalent per year. Source: https://energyguide.org.uk/average-carbon-footprint-uk/
-
These results will allow us to focus activities on areas where emissions can be most effectively reduced, and we will seek to do so in the upcoming years.
-
As part of our impact reduction plan residential homes are diversifying foods and meals offered by seeking alternatives to meat and introducing a meat free day once per week – with one home enjoying the increased variety of food so much that they now have two meat free days a week.
-
A laurel hedge, considered an invasive species, was removed when the building works were undertaken at Orchards, and replanted using native species. Further native hedgerows comprising 1,550 hedge plants were planted on the Stowfield site to create wildlife corridors across the pastureland, along with three additional trees.
The Trust also wishes to thank Gloucestershire Care Providers Association (GCPA), Gloucestershire County Council, along with the various other Local Authorities and NHS Trusts we work with, for their ongoing support.
-5 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
VALUES AND WAYS OF WORKING
The Trust is deeply committed to providing high quality and positive risk based care. To support sharing of learning and best practice the Trust has many internal committees to provide effective two-way feedback between all services and management. These include:
-
Client Group (Trust our Voice)
-
Parent Support Group (Carers & Sharers)
-
Trustee buddy scheme across the services of the Trust
-
Trustee Sub-Committees – Finance & Investment, Remuneration
-
Staff Communication Group (Comms)
-
Action Based Management (ABM)
-
Health & Safety Staff Reps - with Trustee representation
-
Environmental Champions
-
Wellbeing Champions
-
Menopause Champions
-
Neurodiversity Champions
-
Disability (staff) Champions
Ensuring our work delivers our mission
The Trust ensures all actions contribute to achieving its mission through regular monitoring of performance by CQC and local authorities, external expert by experience quality visits, family and staff questionnaires, Trustee buddy visits, senior manager audits, peer visits along with an internal ‘mum’ test. The board has referred to the guidance contained in the Charity Commission’s general guidance on public benefit when determining how current and future activities meet the Trust’s objectives.
Staff Pay Award
Fee uplifts, effective from April 2024 and received from Local Authorities and NHS Trust’s, did not cover the full impact of the increase in National Living Wage (NLW). The Trust chose to invest in its staff teams by providing all staff a pay increase above the NLW along with increasing the differential between care worker and team leader - reflecting the increased responsibilities required of the leader role. A pay progression route allows opportunity for salary increases through qualifications and length of service which supports the Trust’s aim to ensure each staff member has the skills and attributes of our values through effective recruitment, ongoing support, and training and shared vision. The Trust is delighted to continue to pay all staff above the National Living Wage reflecting the importance of the tasks they are doing and the gratitude the Trust has for their commitment and continuous hard work.
-6 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
OPERATING MODEL AND RISKS
Risk
Internal risks are minimised by the regular review of the organisational risk register, comprehensive policies and procedures for all staff to follow along with appropriate training for each role. Financial risks are managed by the above along with procedures for authorisation of all transactions and projects. These procedures are regularly reviewed to ensure they meet the needs of the charity.
Principal identified risks
-
Service delivery – internal and external quality controls minimise risks in this area with internal quality control process reviewed and updated to reflect the regularly changing best practice guidelines provided by authorities within the care sector.
-
Recruitment – The challenge of recruiting new staff with the values and attributes required by the Trust to support clients is increasingly difficult, however these standards are vital to the wellbeing of individuals so new methods of advertising and recruiting are continually explored.
-
Changes to Local Authority funding and/or commissioning models – Trust staff work closely with partners in local authorities to ensure client packages reflect true costs of care and individual need.
-
Regional and National policy changes - Cathy Andrews sits on the ADASS South West Stakeholder Forum and the South West Regional Stakeholder Network for the Disability Unit in Cabinet Office both feed information into and influence change at regional, national and governmental levels. Alongside this Cathy’s position on the Skills for Care Workforce Board supports the development of training and conditions for today's and future social care workers.
-
Regulatory and Legislative changes - The Trust seeks to remain up to date with all changes through subscription to CQC, Skills for Care, HSE and other email updates along with face to face and social media peer networking. We consider and respond to the continued development of legislation and changes regulations through discussion and regular reviewing of internal procedures.
As mitigation against the above risks, senior staff are active within local authority market shaping workshops and Cathy Andrews sits on the board of the Gloucestershire Care Providers Association. To ensure the Trust is up to date with current and future changes to the financial landscape Kelly Ryder sits as a Trustee for the Charity Finance Group and both she and Tony Lafford are members of the Association for Real Change (ARC).
Reserve Policy
The majority of the Trust’s income is received through local authority contracts for the specific care of an individual. Any surplus is used to ensure the Trust’s ongoing sustainability and to improve the care environment.
All charities are required to consider the level of reserves they need to hold to cover both development opportunities and as resilience against unforeseen events. Additional cash reserves are considered by the Trustees to be essential to protect the activities of the Trust. In line with the general guidance provided by the Charity Commissioners and an understanding of the organisational risks, the Trustees calculate the unrestricted reserves held to be a minimum of six months expenditure with the aim to increase this to the 12-month figure. These amounts follow consideration of future Local Authority funding challenges and the cost of upcoming changes to employment laws.
Currently, the maintained unrestricted reserves not committed or invested in tangible fixed assets (Residential Development Fund) is at £680,280. Any reserves over that sum could be allocated for future development, pending a suitable opportunity. The net asset value of the Trust is sufficient to release substantial funds in the event of a catastrophe.
-7 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
GOVERNANCE AND DECISION MAKING
Orchard Trust
The Trustees in office in the year are detailed on page 1 of this report along with the names and addresses of relevant organisations providing banking services or professional advice to the Charity and its subsidiary.
The company does not have share capital, being limited by a guarantee of £1 from each of the Trustees. The Trustees act as Directors for company purposes.
The company is governed by its Memorandum and Articles of Association.
The Trustees have given due consideration to Charity Commission published guidance on the operation of the public benefit requirement.
At the year end the Board of Trustees comprised eight Trustees, who are also Directors of The Orchard Trust for the purposes of company law. Operational responsibility lies with the Trust’s Senior Management team of Cathy Andrews, CEO; Tony Lafford, Head of Support; Kelly Ryder, Finance Manager; Will Murray, HR Manager; and Liz Watkins, Training and Operations Manager.
The Trust holds six full board meetings per year, plus Finance & Investment Committee meetings and Remuneration Committee meetings. Trustees also have representation on the Health and Safety Committee and services have a Trustee buddy who regularly visits to learn more about that service's specific challenges and thus bring greater knowledge to the board room.
Trustee Appointment and Training
Trustees are appointed by election to the Board. On induction, new Trustees are given a tour of the Trust's sites, meet key employees and are introduced to the other Trustees. Trustees are briefed on their legal obligations under charity and company law, as well as the aims and activities of the Trust and its recent financial performance. Trustees are encouraged to attend external training events where these facilitate the undertaking of their role.
Review of the accounts
The accounts follow a similar format to those of the preceding year in compliance with the accounting rules under the Charities SORP.
The "Statement of Financial Activities" on page 14-15 shows the movements on all funds of the Trust, with the Balance Sheet on page 15. A Cash Flow Statement has again been included in the accounts on page 18. As in previous years, the report contains a Risk Analysis.
Borrowings
The Trust has borrowed no money during this year.
At the balance sheet date, cash reserves decreased from last year at £1,480,666 (2024 - £1,538,053). Total reserves decreased from £6,277,551 to £6,232,183 (2023 – decreased from £6,471,118 to £6,277,551).
Investment Powers
Under the Memorandum and Articles of Association, the company has the power to make any investment which the Trustees see fit.
-8 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
Financial Review
The full accounts of the Trust are included on pages 14 - 29. Cash balances at the year-end £1,480,666 (2024 - £1,538,053) reflected careful management of the Trust’s resources during financially challenging times.
Acquisitions and Disposals
There have been no substantial acquisitions or disposals during the period.
Statement of Trustees’ Responsibilities
The Trustees (who are also directors of The Orchard Trust Limited for the purposes of company law), are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial year. Under that law, the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the profit or loss of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
-
Select suitable accounting policies and then apply them consistently;
-
Observe the methods and principles in the Charities SORP;
-
Make judgements and estimates that are reasonable and prudent;
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Acknowledgements
We acknowledge HR support and guidance from HELP HR, PIB Insurance Brokers for dealing accordingly with our HR and insurance needs and RWKGoodman for assisting with our legal queries.
Statement of Disclosure to Auditor
In accordance with company law, as the Company's Directors, the Trustees have taken the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the charitable company's auditors are aware of that information. The Trustees confirm that there is no relevant information that they know of, and which they know the auditors are unaware of.
Fixed Assets
The Company re-valued its properties in March 2015. This revaluation, which has been reflected in these financial statements, is based on the open market valuation for existing use of £4,630,000, which is the basis required by UK Financial Reporting Standards. The valuation of the properties at the same date, on the assumption that they were fully operational and equipped having regard to trading potential, was £4,630,000. This value was frozen on transition to FRS102.
-9 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
Third Party Indemnity Insurance
The company incurred an annual premium of £2,088 to AXA Insurance UK PLC in relation to Trustee Indemnity Insurance.
Auditors
Hazlewoods LLP were reappointed as auditors in the year and have expressed their willingness to continue in office.
Signed by order of the Board of Trustees
...................................... (luistoplr (Loyd.
Mr Chris Lloyd
Treasurer - The Orchard Trust
Date:
2/12/2025 ......................................
-10 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS
Opinion
We have audited the financial statements of The Orchard Trust for the year ended 31 March 2025, which comprise the Charity Statement of Financial Activities, the Charity Balance Sheet, the Charity Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of 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).
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 charitable company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
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 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
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
-
the directors’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
-
the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
-11 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the Report of the Trustees have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
-
the charitable company financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of directors’ remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustee’s responsibilities statement set out on page 7, the trustees 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 directors 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 charitable company'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 directors 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.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
-12 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS
Extent to which the auditor was considered capable of detecting irregularities, including fraud
Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISA’s (UK).
In identifying and assessing risks of material misstatement in respect of fraud, including irregularities and noncompliance with laws and regulations our procedures included the following:
-
We obtained an understanding of the legal and regulatory frameworks applicable to the charitable company financial statements or that had a fundamental effect on the charitable company’s operations. We determined that the most significant laws and regulations included UK GAAP, UK Companies Act 2006 and Charities Act 2011.
-
We understood how the charitable company is complying with those legal and regulatory frameworks by making inquiries of management, those responsible for legal and compliance procedures.
-
We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
-
Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
-
Understanding how management considered and addressed the potential for override of controls. Detailed analysis of journals posted through the accounting system during the year to 31 March 2024 has been undertaken;
-
Understanding the controls in place to prevent and detect fraud. Reliance was not placed on controls for the entirety of the audit, instead taking a substantive testing approach, however controls were in place to prevent fraud and they appeared to be working effectively.
-
Challenging assumptions and judgements made by management in its significant accounting estimates.
Use of our report
This report is solely made to 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 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 company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
...................................... Martin Howard (Senior Statutory Auditor) For and on behalf of Hazlewoods LLP, Statutory Auditor
Windsor House Bayshill Road Cheltenham GL50 3AT
3/12/2025 Date:.............................
-13 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted Restricted Total fund fund funds 2025 2025 2025 Note £ £ £ INCOME AND ENDOWMENTS Income and endowments from: Donations and legacies Donations and gifts 145,048 67,770 212,818 Investments Bank interest receivable 61,751 - 61,751 Charitable activities Local Authority contracts 5,096,043 - 5,096,043 Other Training income 15,129 - 15,129 Rental income 46,656 - 46,656 Other income 162 - 162 _ _ _ Total income and endowments 5,364,789 67,770 5,432,559 _ _ _ EXPENDITURE ON Charitable activities 2 (5,436,134) (41,793) (5,477,927) _ _ _ Total expenditure (5,436,134) (41,793) (5,477,927) _ _ _ Net loss for the year 14 (71,345) 25,977 (45,368) |
Total funds 2024 £ 164,510 27,242 4,845,136 59,254 36,961 168 _ 5,133,271 _ (5,326,838) _ (5,326,838) _ (193,567) |
|---|---|
-14 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted Restricted fund fund 2025 2025 Note £ £ Reconciliation of funds Funds brought forward at 1 April 6,268,015 9,536 Transfer between reserves (1,737) 1,737 Net movement in funds (71,345) 25,977 _ _ Funds carried forward at 31 March 14 6,194,933 37,250 |
Total Total funds funds 2025 2024 £ £ 6,227,551 6,471,118 - - (45,368) (193,567) _ _ 6,232,183 6,277,551 |
|---|---|
The notes on pages 17 to 27 form part of these financial statements.
The Statement of Financial Activities has been prepared on the basis that all operations are continuing operations.
Note of Historical Cost Income and Expenditure
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Reported net movement in funds | (45,368) | (193,567) |
| Difference between historical cost | ||
| depreciation and the actual depreciation | ||
| charge of the year calculated on the revalued | ||
| amount | 18,252 | 16,946 |
| __ | __ | |
| Historical cost net movement in funds | (27,116) | (176,621) |
-15 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) BALANCE SHEET AS AT 31 MARCH 2025
Company Number: 2348350
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 6 | 4,614,653 | 4,683,653 | ||
| Investments | 7 | 930 | 930 | ||
| __ | __ | ||||
| 4,615,583 | 4,684,583 | ||||
| Current assets | |||||
| Stock | 8 | 1,440 | 1,440 | ||
| Debtors | 9 | 411,629 | 337,264 | ||
| Cash at bank and in hand | 1,480,666 | 1,538,053 | |||
| __ | __ | ||||
| 1,893,735 | 1,876,757 | ||||
| Creditors: Amounts falling due | |||||
| within one year | 10 (277,135) | (277,135) | (277,135) | (283,789) | |
| __ | __ | ||||
| Net current assets | 1,616,600 | 1,592,968 | |||
| __ | __ | ||||
| Total assets less current liabilities | 6,232,183 |
6,277,551 |
|||
| Funds | |||||
| Restricted income funds 12,13,14 | Restricted income funds 12,13,14 | Restricted income funds 12,13,14 | 37,250 | 9,536 | |
| Unrestricted income funds: 13,14 |
13,14 | ||||
| Operational general fund | 4,383,032 | 4,437,862 | |||
| Property revaluation reserve | 911,901 | 930,153 | |||
| Designated funds | 900,000 | 900,000 | |||
| ____ | ____ | ___ | |||
| 6,232,183 | 6,277,551 |
2/12/2025 The financial statements were approved by the Board of Trustees on _____ and signed on its behalf by:
Mr Chris Lloyd Treasurer The Orchard Trust
-16 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2025
| Operational Property Designated Restricted general revaluation fund fund fund reserve £ £ £ £ Funds brought forward at 1 April 2024 4,437,862 930,153 900,000 9,536 Net (deficit) / surplus (71,345) - - 25,977 before transfers Depreciation on revalued 18,252 (18,252) - - Amounts Transfer between reserves (1,737) - - 1,737 _ _ _ _ Funds carried forward at 31 March 2025 4,383,032 911,901 900,000 37,250 Operational Property Designated Restricted general revaluation fund fund fund reserve £ £ £ £ Funds brought forward at 1 April 2023 4,582,797 947,099 900,000 41,222 Net (deficit) / surplus (157,581) - - (35,986) before transfers Depreciation on revalued 16,946 (16,946) - - Amounts Transfer between reserves (4,300) - - 4,300 _ _ _ _ Funds carried forward at 31 March 2024 4,437,862 930,153 900,000 9,536 |
Total funds £ 6,277,551 (45,368) - - _ 6,232,183 Total funds £ 6,471,118 (193,567) - - _ 6,277,551 |
|---|---|
-17 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Cash generated from in operating activities | 15 | (432) | 46,591 | ||
| Cash flows from investing activities | |||||
| Interest income | 61,751 | 27,242 | |||
| Purchase of tangible fixed assets | (118,706) | (99,207) | |||
| Proceeds from sale of tangible assets | - | - | |||
| Cash used in investing | |||||
| activities | (56,955) |
(71,965) |
|||
| Decrease in cash and cash equivalents in | |||||
| the year | (57,387) |
(25,374) |
|||
| Cash and cash equivalents at the beginning | |||||
| of the year | 1,538,053 |
1,563,427 |
|||
| Total cash and cash equivalents at the end | |||||
| of the year | 1,480,666 |
1,538,053 |
The charitable company does not have any debt and therefore an analysis of the debt has not been included in these financial statements.
-18 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
_________________
1 ACCOUNTING POLICIES
Basis of Preparation
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain fixed assets, adopting the following principal accounting policies all of which are in accordance with 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 (FRS102) and the Charities Act 2011.
The financial statements are presented in Pounds Sterling.
Company status
The company is limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1. The company is subject to the requirements of the Companies Act 2006 with regards to the form and content of the financial statements.
The company is incorporated and domiciled in England and Wales.
The address of its registered office is: Valley Springs Central Lydbrook Lydbrook Gloucestershire GL17 9PP
Judgements and estimation uncertainty
The trustees consider that there are no key areas of judgement or estimation uncertainty to be disclosed in these financial statements.
Tangible fixed assets and depreciation
Tangible fixed assets are stated in the accounts at cost or revalued amount less depreciation. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life. The annual rates applied in this period were:
Freehold buildings (homes) 2% on written down value Farm 2% on written down value Plant and equipment 15% on written down value Office equipment and furniture 40% on written down value Motor vehicles 25% on written down value
No depreciation is provided on freehold land.
Stocks
Stocks are valued at the lower of cost and net realisable value.
Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risk of ownership remain with the lessor are charged to the Statement of Financial Activities.
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk
-19 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
_________________
1 ACCOUNTING POLICIES (continued)
Trade receivables
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All debtors are repayable within one year and are hence included at the undiscounted amount of the cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the Trust will not be able to collect all amounts due according to the original terms of the receivables.
Trade payables
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Trust does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Financial instruments
The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Income and endowments
Income and endowments are allocated between:
Donations and legacies (analysed between donations/gifts and grants receivable)
Donations/gifts and grants are accounted for on a receivable basis. Funds collected, to which the charity is entitled, but not received before the end of the financial year, are included in income and endowments and in debtors.
Capital grants are recognised through the Statement of Financial Activities as income to restricted funds. A transfer is then made to the General Fund so as to write back the fund over the expected useful life of the relevant asset.
Income from charitable activities (fees from local authority contracts)
Income derives from the provision of education and residential care and is recognised in the Statement of Financial Activities on a receivable basis. Such income is exempt from Value Added Tax.
Income from Investments
Interest receivable is accrued on a daily basis.
Other income
Income arising from the provision of training is recognised on a receivable basis, and included within ‘Other income’.
-20 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
_________________
1 ACCOUNTING POLICIES (continued)
Expenditure on Charitable activities
Expenditure on Charitable activities is included in the Statement of Financial Activities on an accruals basis, inclusive of any Value Added Tax, which cannot be recovered. Where expenditure is directly attributable to more than one activity, it is apportioned across cost categories on the basis of an estimate of the proportion of time spent by staff on those activities.
Funds
Funds held by the charity are either:
-
Unrestricted general funds, which can be used in accordance with the charitable objects at the discretion of the Trustees; or
-
Unrestricted designated funds, which can be used in accordance with the Charitable objects, in respect of specific projects ear-marked by the Trustees; or
-
Restricted funds, which can only be used for particular restricted purposes within the objects of the charity. Restrictions are specified by the donor or when funds are raised for particular restricted purposes. All funds received to date have been applied against capital projects.
Taxation
The Company is an Exempt Charity within the meaning of Schedule 2 of the Charities Act 1993 and as such is a charity within the meaning of Section 519 of the Income Tax Act 2007 (formerly Section 506(1) of the Taxes Act 1988). Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Section 524 of the Income Tax Act 2007 (formerly Section 505 of the Taxes Act 1988) or Section 256 of the Taxation of Chargeable Gains Tax 1992 to the extent that such income or gains are applied to exclusively charitable purposes.
Pensions
The company operates a defined contribution scheme for certain employees. The contributions are charged to revenue in the period in which they are incurred.
-21 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
_________________
2 EXPENDITURE ON CHARITABLE ACTIVITIES
| Note Provision of care: Staff costs 4 Residents’ expenses Transport costs Property costs Equipment maintenance Other costs Depreciation Insurance Support costs: Staff costs 4 Property costs Equipment maintenance Insurance Office costs Sundry Legal and professional fees Bank charges Auditors remuneration Profit on disposal of tangible fixed assets Total expenditure on charitable activities |
2025 £ 3,968,540 162,227 45,650 281,582 71,119 59,602 187,710 100,034 _ 4,876,464 _ 462,751 14,817 3,743 5,265 28,473 - 71,247 3,967 11,200 - _ 601,463 _ 5,477,927 |
2024 £ 3,763,859 228,747 57,308 228,048 87,477 133,863 208,205 76,569 _ 4,784,076 _ 363,156 12,003 4,604 4,030 32,729 2,170 110,090 3,980 10,000 - _ 542,762 _ 5,326,838 |
|---|---|---|
-22 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
_________________
3 NET INCOME FOR THE YEAR
| NET INCOME FOR THE YEAR | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| This is stated after charging: | ||
| Depreciation | 187,710 | 208,205 |
| Auditors’ remuneration | 11,200 | 10,000 |
Third Party Indemnity insurance costs of £2,088 (2024 - £1,777) were incurred in the year in relation to Trustee Indemnity Insurance. The maximum indemnity under the policy was £2,000,000 (2024 - £2,000,000).
4 STAFF COSTS AND NUMBERS
| Note Staff costs: Wages and salaries Social security costs Other pension costs Training costs and agency staff Analysed: Staff costs included in provision of care 2 Staff costs included in support costs 2 Emoluments to Chief Executive Officer |
2025 £ 3,920,202 288,070 85,988 137,031 _ 4,431,291 3,968,540 462,751 _ 4,431,291 84,048 __ |
2024 £ 3,643,532 259,164 79,344 144,975 _ 4,127,015 3,763,859 363,156 _ 4,127,015 78,891 __ |
|---|---|---|
The above represents the emoluments of the highest paid officer. One other employee earned more than £60,000 but below £69,999. The trustees did not receive any remuneration.
There were no redundancy or termination payments during the year.
| 2025 | 2024 | |
|---|---|---|
| Number | Number | |
| Management and administration | 12 | 12 |
| Nursing and care staff | 205 | 212 |
| ___ | ____ | |
| 217 | 224 |
-23 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5 TAXATION
As The Orchard Trust is an exempt charity, it is exempt from taxation in respect of income or capital gains received.
6 TANGIBLE FIXED ASSETS
| Cost At 1 April 2024 Additions Disposals At 31 March 2025 Depreciation At 1 April 2024 Charge for the year Eliminated on disposal At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 |
Residential freehold property £ 5,341,481 44,584 - 5,386,065 1,024,348 80,576 - 1,104,924 4,281,141 4,317,133 |
Farm £ 192,780 - - 192,780 72,235 2,412 - 74,647 118,133 120,545 |
Plant & equipment £ 23,183 - - 23,183 16,764 963 - 17,727 5,456 6,419 |
Office equipment & furniture £ 558,753 74,123 - 632,876 367,300 91,141 - 458,441 174,435 191,453 |
Motor vehicles £ 164,323 - - 164,323 116,220 12,615 - 128,835 35,488 48,103 |
Total £ 6,280,520 118,706 - |
|---|---|---|---|---|---|---|
| 6,399,226 | ||||||
| 1,596,867 187,710 - |
||||||
| 1,784,577 | ||||||
| 4,614,653 | ||||||
| 4,683,653 |
Freehold property includes £278,720 (2024 - £278,720) in respect of land which has not been depreciated.
Comparable historical cost of the freehold property is £4,635,000 (2024 - £4,635,000). The accumulated depreciation on the historical cost is £1,392,880 (2024 - £1,455,204).
-24 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
_________________
7 INVESTMENTS
| Subsidiary Listed undertakings investments £ £ Cost and net book value At 1 April 2024 and at 31 March 2025 - 930 __ _ 8 STOCK 2025 £ Livestock and materials 1,440 9 DEBTORS 2025 £ Trade debtors 110,417 Other debtors and accrued income 260,214 Prepayments 40,998 ____ 411,629 |
Total 2025 £ 930 __ 2024 £ 1,440 2024 £ 203,352 74,808 59,104 _____ 337,264 |
|---|---|
-25 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
10 CREDITORS: Amounts falling due within one year
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 97,034 | 78,552 |
| Taxation and social security | 59,727 | 53,268 |
| Accruals and deferred income | 84,607 | 108,681 |
| Other creditors | 35,767 | 43,288 |
| _ | _ | |
| 277,135 | 283,789 |
11 COMMITMENTS
At 31 March, the total of future minimum lease payments is as follows:
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Expiry date: | ||
| Less than one year | 17,773 | 1,427 |
| Between two and five years | 44,918 | 388 |
| _ | _ | |
| 62,691 | 1,815 |
The amount of non-cancellable operating lease payments recognised as an expense during the year was £1,427 (2024 - £1,427).
At 31 March 2025 the Trust had no capital commitments contracted for but not provided in these financial statements.
-26 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
________________
12 RESTRICTED FUNDS
| 31 | |||||
|---|---|---|---|---|---|
| 1 April | Incoming | Normal | Resources | March | |
| 2024 | Resources | Expenditure | Transfer | 2025 | |
| £ | £ | £ | £ | £ | |
| Offas Dyke Sensory room | 1,235 | - | (68) | - | 1,167 |
| Sevenoaks Tomcat | 643 | - | - | - | 643 |
| Science week project | 438 | - | - | - | 438 |
| Changing places | 3,004 | - | - | - | 3,004 |
| Morelands | |||||
| bed/paintbrushes/gazebo | 550 | - | - | - | 550 |
| Pool pilot and client session | |||||
| subsidy | 666 | - | - | - | 666 |
| Community garden project | 3,000 | - | - | - | 3,000 |
| Energy audit | - | 3,600 | - | - | 3,600 |
| Offas Dyke soft furnishing | - | 2,739 | (2,876) | 137 | - |
| Offas Dyle accessible bench | - | 1,872 | - | - | 1,872 |
| Offas Dyke flooring | - | 13,378 | (13,378) | - | - |
| Offas Dyke Bedroom aircon | - | 1,176 | - | - | 1,176 |
| Day service flooring | - | 18,369 | (18,369) | - | - |
| Offas Dyke music therapy | - | 3,333 | (510) | - | 2,823 |
| Sevenoaks music therapy | - |
3,333 | (312) | - | 3,021 |
| Orchards music therapy | - | 3,333 | (450) | - | 2,883 |
| Day service games room | - | 7,757 | - | - | 7,757 |
| Day service music sessions | - | 300 | (300) | - | - |
| Stowfield composter | - | 4,000 | - | - | 4,000 |
| Orchards wetroom | - | 3,200 | (4,800) | 1,600 | - |
| Stowfield outdoor learning | - | 500 | - | - | 500 |
| Morelands bowling | - | 150 | - | - | 150 |
| Kimberley drive holiday | - | 730 | (730) | - | - |
| __ | __ | __ | __ | _ | |
| Total restricted funds | 9,536 | 67,770 | (41,793) | 1,737 | 37,250 |
13 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted Funds £ Fixed assets 4,615,583 Current assets 1,856,484 Current liabilities (277,135) ___ Balance carried forward at 31 March 2025 6,194,932 |
Restricted funds £ - 37,251 - ___ _ 37,251 |
Total £ 4,615,583 1,893,735 (277,135) __ 6,232,183 |
|---|---|---|
-27 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
_________________
14 MOVEMENTS ON RESERVES
Whilst the Statement of Financial Activities shows the movement on all funds, the position is also illustrated in this note for clarity:
| Operational | Property | Designated | Restricted | Total | |
|---|---|---|---|---|---|
| general | revaluation | fund | fund | funds | |
| fund | reserve | ||||
| £ | £ | £ | £ | £ | |
| Funds brought forward | |||||
| at 1 April 2024 | 4,437,862 | 930,153 | 900,000 | 9,536 | 6,277,551 |
| Net incoming resources | (71,345) | - | - | 25,977 | (45,368) |
| before transfers | |||||
| Depreciation on revalued | 18,252 | (18,252) | - | - | - |
| Amounts | |||||
| Transfer between reserves | (1,737) |
- | - | 1,737 | - |
| __ | __ | __ | _ | _ | |
| Funds carried forward | |||||
| At 31 March 2025 | 4,383,032 | 911,901 | 900,000 | 37,250 | 6,232,183 |
The designated funds of the charitable company relates to a “Residential Care Development Fund” whereby it is the intention of the Trustees to further develop the provision of care and to provide for unforeseen major expenditure to the properties.
The Trustees are looking for suitable opportunities.
15 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income before other recognised gains and losses Interest receivable Depreciation (Increase) / decrease in debtors Decrease in creditors Net cash generated from operating activities |
2025 2024 £ £ (45,363) (193,567) (61,751) (27,242) 187,709 208,205 (74,370) 118,228 (6,657) (59,033) (432) 46,591 |
|---|---|
-28 -
Docusign Envelope ID: BC17DF3C-AC93-4471-8CEC-D0D616AF5543
THE ORCHARD TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
_________________
16 RELATED PARTY TRANSACTIONS
During the year, rent and rates was paid of £17,300 (2024 - £17,600) to Mr R Morgan (a trustee), who owns a freehold property from which the company trades. No amounts remain unpaid as at 31 March 2025.
During the year, £96,162 (2024 - £222,997) of fees were received from local authorities for 2 children of trustees, who are supported by the charity.
Additionally, during the current and prior financial year, Elizabeth Bell (a trustee) has volunteered time and services to the business smallholding.
-29 -