REGISTERED COMPANY NUMBER: 02345730 (England and Wales) REGISTERED CHARITY NUMBER: 801169 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR THE APULDRAM CENTRE
THE APULDRAM CENTRE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Report of the Trustees Report of the independent Auditors Statement of Financial Activities Balance Sheet Cash Flow Statement Notes to the Cash Flow Statement Notes to the Financial Statements Page 1 to 5 6 to 9 10 11 12 13 14 to 24
THE APULDRAM CENTRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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 Objectives and aims The objects of the charitable company are set out in its Memorandum and Articles of Association, and may be summarised as follows: "The relief of persons affected by learning disabilities and / or complex needs by providing and assisting in the provision of accommodation, facilities and support services not nomally provided by the statutory authorities". requiremen unade the haries Act 2a on to the Charity Comission's published guidance on the Public Benefit They believe that the activities and benchmarks noted within the 'Achievements and performance" section below have assisted in furthering the charitable company's purposes for the public benefit. Public benefit he trustees confirm that they have referred to the guidance contained in the Charity Commission's genera Juidance on public benefit when reviewing the charity's aims and objectives and in planning future activities The trustees refer to public benefit throughout this report. Page 1
THE APULDRAM CENTRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRATEGIC REPORT Achievements and performance Introduction Following a period of significant change, this year has been one of stability and the early signs of growth. The ur work continues to be shaped by our vision of a future where adults with learning and lifelong disabiliti e supported to live with independence, inclusion, and purpose. We believe that every individual should ha the opportunity to reach their fil potential and to contribute to the communities in which they live, volunteer, or Governance and Leadership A significant focus this year has been strengthening governance. The Senior Management Team has completed a full review of organisational policies, ensuring that the charity has a solid framework to remain compliant with its regulators while also providing clear guidance for staff. This work has built strong foundations for the organisation's resilience and growth in the years ahead The Board has also welcomed new expertise. In February 2024, Anthony Thomas joined as a Trustee, and in September 2025 we look forward to welcoming Hugh Fancourt. Both bring considerable business experience and insight that will support the charity in delivering its mission and navigating the challenges ahead. The current Trustees will provide support to the newly appointed Trustees through a structured induction process, offering guidance on the charity's operations and governance to ensure they are well-equipped for their roles. our work. The Trustees have also begun exploring how a co-development approach can be embedded within the charity's governance. This work is focused on diversifying representation at Board level to ensure that the perspectives of those we support are more directly reflected in decision-making. By creating opportunities for lived experience to help shape strategy, the Board aims to strengthen the voice of individuals with learning and lifelong disabilities in guiding the future direction of the charity. This approach reflects our commitment to inclusion, empowerment, and person-centred practice, ensuring that our governance structure aligns with the values at the heart of our organisation. Day Services and Community Hub Day Services continue to be central to our activities, giving individuals opportunities that are purposeful, creative, and enjoyable. Many have achieved personal goals through hands-on experience in the shop, café, and horticultural projects, while others have developed new skills and interests in woodwork and carpentry. The Community Hub has continued to expand its reach this year, offering a wider range of opportunities for social engagement, including additional theatre trips, bowling, and swimming sessions. We were also invited to take on the delivery of social events previously run by Empower Leisure Ltd, reflecting the confidence placed in the quality of our provision. Following a successful trial period, these activities have now been fully integrated into our programme, ensuring that individuals continue to have access to a safe and welcoming space in which to socialise and build lasting connections with their peers In partnership with the Aldingbourne Trust, we were successful in securing the West Sussex County Council's Day Services Opportunities contract for the Chichester region under the initiative 'Chichester Connects'. July 2024, we have delivered 4,372 council-funded sessions to 57 adults, alongside additional sessions outside council funding Page 2
THE APULDRAM CENTRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 We recently conducted a second 6-monthly survey for those that access the organisation's Day Service, and the responses were incredibly positive. 100% of those that answered the survey said they "Strongly Agreed" with the statement "I look forward to going to the service". 96.4% "Strongly Agreed" with the statement "Staff at the service listen to and act upon my wishes". We also saw an 11% increase in people that "Agreed" or "Strongly Agreed" that they are working towards an aim/goal. The continuation of one-to-one support for individuals with complex needs, at the request of the council, highlights both the essential nature of this service and the confidence placed in our staff. Supported Living It has been a year of both challenge and progress for Supported Living. Under the guidance of the new manager, the service has embraced a more collaborative approach, engaging individuals and families directly through surveys and regular meetings. This has fostered a culture of continuous improvement, enabling several people to achieve personal goals such as attending community events, travelling independently, and making healthier lifestyle choices. While the hand back of a property in February 2025 was difficult, it created opportunities to build stronger relationships with other housing providers and developers. This has already led to two new properties due to open in late 2025-early 2026, which will provide homes for 12 individuals. In total, 41 people have beer supported this year across both 24/7 and outreach services, each designed to promote confidence, choice, Facilities and Innovation We continue to look at ways of improving our facilities and broadening what we have to offer. Planning permission has been granted to extend the canopy outside the Common Room, enabling outdoor activities in all weather conditions. This improvement has been made possible through a generous legacy gift from our late Chair, Paul Reed, and grants from the Gerald Micklem Charitable Trust and Wickens Family Trust. Innovation has also been a key theme this year. The launch of our Dog Park in June 2024 has been a great success, operating at 85% capacity and providing a valuable new income stream to offset rising costs Beyond its financial impact, the Dog Park has offered meaningful involvement for service users, including baking dog treats to sell in the café. The popularity of the Dog Park has also led to the café/shop opening an additional day each week, further strengthening its role as part of the community. Looking Ahead As we look to the year ahead, we remain optimistic yet mindful of the financial challenges posed by the temporary, and short-term reduction in Supported Living schemes. Our immediate focus will be to successfully onboard new properties, extending opportunities for independent living. we will continue to demonstrate our values in everything we do: being passionate about people, inclusive of everyone, proud to celebrate diversity and achievement, and committed to working together as a community. These values, alongside our vision and mission, will continue to guide the charity in supporting individuals with learning and lifelong disabilities to live with dignity, independence, and purpose. Financial review Financial position The surplus for the year was £100,762 (2024: £80,854). The total reserves stood at £2,457,687 (2024: £2,356,925), with E30,500(2024: E13,000) being for restricted purpose. Risk management The trustees have examined the major strategic, business and operational risks that the charitable company faces, and confirm that systems have been established to mitigate such risks. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Page 3
THE APULDRAM CENTRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The board is comprised of trustee directors, all volunteers, and meets several times a year; one meeting is ar AGM. Board members must demonstrate how they fulfil the 'fit and proper persons' and 'disclosure anc barring' criteria for the registration with the Care Quality Commission (CQC). Board meetings are attended by employed staff in leadership and management roles. As employees these staff have no voting right but provide strategic and operational input to inform the board in their decision-making processes. Recruitment and appointment of new trustees New trustees are made familiar with their legal obligations under charity and company law, the contents of the Memorandum and Articles of Association, the committee and decision-making process and the recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Organisational structure The governing body of the charitable company is the board of directors, who are also trustees. The board meet on a regular basis, and at least every quarter. The board elects the Chair. All members give their time on a voluntary basis. Key management remuneration The board appoints a team of professional managers and staff to carry out the day-to-day operations of the charity, being as follows: Chief Executive Officer, Mr Rory Massey Operations and Compliance Manager, Mrs Lianne Jones Chief Finance Officer, Mrs Karen Reeves Supported Living Manager, Mrs Kelly Shaw In addition to the above, staff are employed within Day Centre and Supported Living Services. The staff teams are made up of a varying number of full and part time staff. In total there are 47 (2024: 45) full time equivalent staff across the organisation. Supplier payment policy The company's current policy concerning the payment of trade creditors is to follow the CBl's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU). REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 02345730 (England and Wales) Registered Charity number 801169 Registered office The Apuldram Centre Common Farm Appledram Lane South Chichester West Sussex PO20 7PE Trustees S Blaber A Thomas J Davenport R Thornton P Bradley C McCormack J Bell A Buckland Page 4
THE APULDRAM CENTRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 REFERENCE AND ADMINISTRATIVE DETAILS Auditors MC Audit Limited Statutory Auditors Station House North Street Havant Hampshire PO9 1QU STATEMENT OF TRUSTEES' RESPONSIBILITIES 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 charitable company and of the incoming resources and application o resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP - make judgements and estimates that are reasonable and prudent, - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. 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. In so far as the trustees are aware: - there is no relevant audit information of which the charitable company's auditors are unaware; and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 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. AUDITORS The auditors, MC Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. incorporating a strategic report, approved by order of the board of trustees, as the Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE APULDRAM CENTRE Opinion We have audited the financial statements of The Apuldram Centre (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement 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 (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 standards are further described in the Auditors 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 financia 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 charitable company'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 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 Report of the Independent Auditors 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 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 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 has been prepared in accordance with applicable legal requirements. Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE APULDRAM CENTRE Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the 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 it, in our opinion: - adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or - the tinancial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company tor the purposes 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 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 trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE APULDRAM CENTRE Our 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 a Report of the Independent Auditors 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: rom discussion with management and those charged with governance information about the entity cumented to assess the activity within the ordanisation. We discuss manaaement's assessment of risk respect of irregularities, fraud and going concern. Based on these discussions and our own assessments we determined that the key risk areas were income recognition in respect of cut off issues and management override concerning the size of the organisation. We set financial statement materiality level based on the level of income. As a not for profit organisation raising income is its primary focus which is why income was used to determine the level of materiality. Our overall assessment of risk was used to determine performance materiality at an appropriate level. Substantive audit tests were designed after assessing and performing walkthrough tests. The walkthrough testing confirmed documented systems which have been designed to act as a preventative measure against fraud and error which appear to be operating as documented. Substantive testing tested a sample of the population, representative of the population, to identify errors. The testing did not identify any material misstatements in areas tested Audit substantive tests concluded no material errors over the key risk areas of income recognition management override. The audit considers the organisation is not exposed to material risk of error as a result of assessing laws and regulations that are appropriate to the organisation. Managem and as essed thereas ming and enes. The saudi underin real or berets, managemen. 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 Report of the Independent Auditors. Page 8
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE APULDRAM CENTRE 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 auditors' 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 charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed Placend P Underwood (Senior Statutory Auditor) for and on behalf of MC Audit Limited Statutory Auditors North Street Havant Hampshire PO9 1QU Date: 20 October 2025 Page 9
INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Daycare services Supported living Produce and services Investment income Total EXPENDITURE ON Raising funds Charitable activities Daycare services Supported living Produce and services Total NET INCOME Transfers between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD THE APULDRAM CENTRE STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 Notes 3 5 Unrestricted funds € 21,567 Restricted funds 2025 Total funds 4 6 7 555,856 1,453,465 102,525 17,362 2,150,775 11,332 654,749 1,375,793 38,139 2.080.013 70,762 12,500 83,262 2,343,925 2.427,187 30,000 : - 30,000 : 30,000 (12,500) 17,500 13,000 30,500 51,567 555,856 1,453,465 102,525 17,362 2,180,775 11,332 654,749 1,375,793 38,139 2,080,013 100,762 100,762 2,356,925 2,457,687 The notes form part of these financial statements Page 10 2024 Total funds € 134,896 443,814 1,269,761 74,148 12,128 1,934,747 7,355 587,985 1,219,812 38,741 1,853,893 80,854 - 80,854 2,276,071 2,356,925
FIXED ASSETS Tangible assets CURRENT ASSETS Debtors Cash at bank THE APULDRAM CENTRE BALANCE SHEET 31 MARCH 2025 Notes 13 14 2025 1,942,955 265,640 498,377 764,017 (245,473) 518,544 2024 1,986,716 213,852 396,542 610,394 (228,175) 382,219 CREDITORS Amounts falling due within one year 15 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 16 NET ASSETS FUNDS Unrestricted funds Restricted funds TOTAL FUNDS 20 2,461,499 (3,812) 2,457,687 2,427,187 30,500 2,457,687 2,368,935 (12,010) 2,356,925 2,343,925 13,000 2,356,925 The financial statements were approved by the Board of Trustees and authorised for issue on 26 Sopt 2025. and were signed on its behalf by: / Bell - Trustee The notes form part of these financial statements Page 11
THE APULDRAM CENTRE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 Notes 2025 1 Cash flows from operating activities Cash generated from operations Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash used in investing activities Cash flows from financing activities Loan repayments in year Net cash used in financing activities 120,952 120,952 (14,709) 4,511 (10,198) (8,919) (8,919) Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period 101,835 396,542 498,377 The notes form part of these financial statements Page 12 2024 123,544 123,544 (61,930) 3,477 (58,453) (8,057) (8,057) 57,034 339,508 396,542
2. THE APULDRAM CENTRE NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES Net income for the reporting period (as per the Statement of Financial Activities) 100,762 Adjustments for: Depreciation charges 58,470 Interest received (4,511) Increase in debtors (51,788) Increase in creditors 18,019 Net cash provided by operations 120,952 80,854 68,141 (3,477) (98,644) 76,670 123,544 ANALYSIS OF CHANGES IN NET FUNDS Net cash Cash at bank At 1.4.24 396,542 396,542 Cash flow 101,835 101,835 At 31.3.25 498,377 498,377 Debt Debts falling due within 1 year Debts falling due after 1 year Total (7,855) (12,010) (19,865) 376,677 721 8,198 8,919 110,754 (7,134) (3,812) (10,946) 487,431 The notes form part of these financial statements Page 13
THE APULDRAM CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1. ACCOUNTING POLICIES Charity information The Apuldram Centre is a private company limited by guarantee Incorporated in England and Wales. The registered office is Common Farm, Appledram Lane, Chichester, West Sussex, PO20 7PE. Accounting convention The financial statements have been prepared in accordance with the charity's governing document, 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)" (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102 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. Charitable funds Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at theil discretion to set aside to use for a specific purpose. Restricted funds are donations which the dono has specified are to be solely used for particular areas of the Centre's work or for specific projects being undertaken by the Centre. Income Income is recognised and included in the accounts when all of the following criteria are met: • The charity has entitlement to the funds; • Any performance conditions attached to the income have been met or are fully within the control of the charity: • The is sufficient certainty that receipt of the income is considered probable; and • The amount can be measured reliably. For legacies, entitlement is taken as the earlier of: • The date on which the charity is aware that probate has been granted; • The estate has been finalised and notification has been made by the executors) to the Centre that a distribution will be made; or • When distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution Where legacies have been notified to the charity, or the charity is aware of the granting of probate. and the criteria tor income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. Income received in advance of any service is deferred until the criteria for income recognition are met. Interest on funds held on deposit is included when receivable and the amount can be measurec reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank Expenditure Expenditure is recognised once there is a legal or constructive obligation to make a payment to a thir party, it is probable that settlement will be required and the amount of the obligation can be measured Page 14 continued...
1. THE APULDRAM CENTRE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES - continued Expenditure Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the Centre's activities. The bases on which support and governance costs have been allocate are set out within note 8. 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: Freehold property 2% Plant and machinery 25% Fixtures and fittings 15% Motor vehicles 25% These have all been depreciated using the straight line method. Freehold land and assets In the course of construction are not depreciated. 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. Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short tern liquid investments, and bank overdrafts. Bank overdrafts are shown within borrowings in curren liabilities 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 t the contractual provisions of the instrument Financial assets and labilities 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. Page 15 continued...
1. 2. THE APULDRAM CENTRE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES - continued 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 fective interest method unless the arrangement constitutes a financing transaction, where tl ansaction is measured at the present value of the future receipts discounted at a market rate 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. 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. Employee benefits 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. Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS 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 cnly that petro perid the period of the revision and future periods where the revision affects both current Page 16 continued...
3. 4. 5. THE APULDRAM CENTRE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 DONATIONS AND LEGACIES Donations Legacies 2025 51,567 - 51,567 2024 84,896 50,000 134,896 INVESTMENT INCOME Rents received Deposit account interest 2025 12,851 4,511 17,362 2024 8,651 3,477 12,128 All investment income is derived from assets held in the United Kingdom. INCOME FROM CHARITABLE ACTIVITIES Activity Services provided under contract Services provided under contract Sales within charitable activities Daycare services Supported living Produce and services 2025 555,856 1,453,465 102,525 2,111,846 2024 443,814 1,269,761 74,148 1,787,723 RAISING FUNDS Raising donations and legacies Fundraising costs Support costs 2025 3,043 8,289 11,332 2024 355 7,000 7,355 Page 17 continued...
7. 8. THE APULDRAM CENTRE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 CHARITABLE ACTIVITIES COSTS Daycare services Supported living Produce and services Direct Costs 625,731 1,330,195 38,139 1,994,065 Support costs (see note 8) 29,018 45,598 74,616 Totals 654,749 1,375,793 38,139 2,068,681 SUPPORT COSTS Raising donations and legacies Daycare services Supported living Management 4,837 16,935 26,610 48,382 Finance 361 1,263 1,985 3,609 Governance costs 3,091 10,820 17,003 30,914 Totals 3.289 29,018 45,598 82,905 Support costs have been apportioned between each of the charitable activities on the following basis: Raising donations and legacies 10% Daycare services 35% Supported living 55% Support costs, included in the above, are as follows: Management 2025 2024 Telephone Postage and stationery Sundries Establishment costs Insurance Depreciation of tangible and heritage assets Raising donations and legacies 598 314 114 3,651 124 36 4,837 Daycare services 2,093 1,100 400 12,781 435 126 16,935 Supported living € 3,288 1,728 628 20,084 684 198 26,610 Total activities 5,979 1,142 36,516 1,243 360 48,382 Total activities 6,249 2,257 20,578 1,067 1,493 40,725 Page 18 continued...
8. 9. 10. 11. THE APULDRAM CENTRE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 SUPPORT COSTS - continued Finance 2025 2024 Raising donations and legacies 361 Daycare services € 1,263 Supported living 1,985 Total activities 3,609 Total activities 2,842 Bank charges Governance costs 2025 2024 Auditors' remuneration Legal and professional Bureau charges Irrecoverable VAT Raising donations and legacies 853 1,242 336 660 3,091 Daycare services 2,986 4,348 1,175 2,311 10,820 Supported living 4,693 6,832 1,846 3,632 17,003 Total activities 8,532 12,422 3,357 6,603 30,914 Total activities 7,302 9,599 3,330 6,202 26,433 NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Auditors' remuneration Depreciation - owned assets 2025 8,532 58,470 2024 7,302 68,141 TRUSTEES' REMUNERATION AND BENEFITS Teare wed 31 March 2 remuneration or other benefits for the year ended 31 March 2025 or for the Trustees' expenses During the year no trustees (2024: none) were reimbursed out of pocket expenses. STAFF COSTS Wages and salaries Social security costs Other pension costs 2025 1,439,866 125,086 30,614 1,595,566 2024 € 1,274,147 106,067 25,478 1,405,692 The average monthly number of employees during the year was as follows: 2025 65 2024 63 No employees received emoluments in excess of £60,000. Page 19 continued...
THE APULDRAM CENTRE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 11. STAFF COSTS - continued Key management personnel 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds 110,396 443,814 1,269,761 74,148 12,128 1,910,247 Restricted Funds. 24,500 INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Daycare services Supported living Produce and services Investment income Total EXPENDITURE ON Raising funds Charitable activities Daycare services Supported living Produce and services Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD - 24,500 Total funds 134,896 443,814 1,269,761 74,148 12,128 1,934,747 7,355 546,053 1,207,812 38,741 1,799,961 110,286 - 41,932 12,000 53,932 (29,432) 7,355 587,985 1,219,812 38,741 1,853,893 80,854 2,233,639 2,343,925 42,432 13,000 2,276,071 2,356,925 Page 20 continued...
THE APULDRAM CENTRE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 13. TANGIBLE FIXED ASSETS Freehold property Plant and machinery Fixtures and fittings COST At 1 April 2024 Additions At 31 March 2025 DEPRECIATION At 1 April 2024 Charge for year At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 2,477,064 14,709 2,491,773 125,189 25,645 125,189 25,645 523,217 42,345 565,562 100,252 8,892 109,144 17,714 7,233 24,947 1,926,211 1,953,847 16,045 24,937 698 7,931 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments and accrued income Motor vehicles 20,745 20,745 20,744 20,744 1 1 2025 201,383 3,268 60,989 265,640 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 17) Trade creditors Social security and other taxes Other creditors Accruals and deferred income Brought forward Amount released to incoming resources Amount deferred in year Carried forward 2025 7.134 83,565 51,707 103,067 245,473 2025 € 14,981 (14,981) 26,233 26,233 Page 21 Totals 2,648,643 14,709 2,663,352 661,927 58,470 720,397 1,942,955 1,986,716 2024 109,936 52,913 51,003 213,852 2024 7,855 67,928 40,607 4,897 106,888 228,175 2024 10,380 (10,380) 14,981 14,981 continued...
THE APULDRAM CENTRE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 17) 2025 3,812 17. LOANS An analysis of the maturity of loans is given below: 2025 7,134 3,812 18. Amounts falling due within one year on demand: Bank loans Amounts falling due between two and five years: Bank loans - 2-5 years LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows: Within one year Between one and five years 2025 8,352 26,448 34,800 19. ANALYSIS OF NET ASSETS BETWEEN FUNDS Fixed assets Current assets Current liabilities Long term liabilities Unrestricted funds 1,942,955 733,517 (245,473) (3,812) 2427.187 Restricted funds 30,500 : 30,500 2025 Total funds 1,942,955 764,017 (245,473) (3,812) 2,457,687 Page 22 2024 12,010 2024 7,855 12,010 2024 870 - 870 2024 Total funds 1,986,716 610,394 (228,175) (12,010) 2,356,925 continued...
THE APULDRAM CENTRE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 20. MOVEMENT IN FUNDS At 1.4.24 Unrestricted funds General fund Improvements to common room Net movement in funds € 70,762 Restricted funds Daycare - cooking equipment Automatic Door Improvements to common room TOTAL FUNDS 2,333,425 10,500 2,343,925 500 12,500 - - 13,000 2,356,925 70,762 : 30,000 30,000 100,762 Net movement in funds, included in the above are as follows: Incoming resources Unrestricted funds General fund Restricted funds improvements to common room 2,150,775 30,000 TOTAL FUNDS 2,180,775 Comparatives for movement in funds Transfers between funds 12,500 12,500 (12,500) (12,500) Resources expended (2,080,013) - (2,080,013) Unrestricted funds General fund Improvements to common room Restricted funds Awards for all (digital data) Covered walkway Daycare - cooking equipment Automatic Door TOTAL FUNDS A11.23 2,233,639 2,233,639 37,002 500 42,432 2,276,071 Net movement in funds 99,786 10,500 110,286 (4,932 (37,000) 12,500 (29,432) 80,854 Page 23 31.3.25 2,416,687 10,500 2,427,187 500 30,000 30,500 2,457,687 Movement in funds 70,762 30,000 100,762 31.3.24 2,333,425 10,500 2,343,925 500 12,500 13,000 2,356,925 continued...
THE APULDRAM CENTRE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 20. MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows: Incoming resources Unrestricted funds General fund Improvements to common room Restricted funds Awards for all (digital data) Covered walkway Automatic Door Decoration to Apuldram SL Houses 1,899,747 10,500 1,910,247 12500 12,000 24,500 1,934,747 Resources expended (1,799,961) (1,799,961) (4,932) (37,000) (12,000) (53,932) (1,853,893) Movement in funds 99,786 10,500 110,286 (4,932) (37,000) 12,500 - (29,432) 80,854 TOTAL FUNDS Restricted Funds Funds were raised to be specifically used on the projects as listed above. Any unspent funds as at 31st March 2025 are held with current assets to be spent in the 2025/26 financial year In the current year, the entity received donations to cover improvements to the covered walkway. These have been showed as restricted funds. The entity has also allocated some profits from the general fund in order to cover the remaining costs in order to complete this project. This fund i showing in the designated funds 21. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2025. 22. ULTIMATE CONTROLLING PARTY The charitable company is not under the control of another entity or any one individual. Page 24