Extra Care for Elderly People Limited
Company Lim ited by Guarantee
Statsment of Financial Activities
(including income and expenditure account)
Year ended 31 March 2023
2023
Restricted
funds Total funds Total funds
2022
Unrestricted
funds
Note
Income and endovfflients
Donations and legacies
Charitable activities
Other trading activities
Investment income
Other income
165,641
3,778.553
189.922
1.066
300
165,641
3,820.472
189.922
1.066
300
264,288
4,284.666
191.790
3,118
2IXI
41.919
Total income
4,135,482
41,919
4.177,401
4,744,062
Expenditure
Expenditure on charitable activities
Total expenditure
10 (4,334,75n
{4,334,75n
(32.824) (4,367,581) {4,719,542)
{32.824) (4.367,581) (4,719,542)
Net losses on investments
12
(303,536)
(303,536) (750,393)
Net expenditure
{502.811)
9.095
(493.716) (725,873)
Transfers btheen funds
9,095
(9.095)
Net movement in funds
(493.716)
(493,716) (725,873)
Reconciliation of funds
Total funds brought forward
Total funds carried forward
797.875
797.875
1,523,748
304.159
304,159
797,875
The statement of financial activities includes all gains and k)sses recognised in the year.
All income and expenditure derive from continuing activities.
The notss on pages 21 to 35 fom) part of these financlal slatements.

Extra Care for Elderly People Limited
Company Limited by Guarantee
Statement of Financial Position
31 March 2023
2023
2022
Note
Fixed assets
Tangible fixed assets
Investments
17
87,424
18 1,500,000
1.587,424
135,851
1.944,282
2.080,133
Current assets
Stocks
Debtors
Cash at bank and in hand
19
20
43.076
230,842
247,346
123.762
268.810
50,374
521.264
442,946
Creditors". amounts falling due within one year
Net current liabilities
21
1.687.149
1,569,183
1,165.885
1,126,237
Total assets less current liabilities
421,539
953,8
Creditors: amounts falling due after more than one year
Net assets
22
117,380
156,021
304,159
797,875
Funds of the charity
Unrestricted funds
304.159
797.875
Total charity funds
25
304,159
797,875
These financial statements have been prepared in accordan￿ with the provisions applicable to
companies subject to the small companies. regime.
These financial statements were approved by the board of trustees and authorised for issue on 25th
January 2024. and are signed on behalf of the board by..
A Bing
Trustee
The notes on pagos 21 to 35 forni part of these financlal statements.

Extra Care for Elderly People Limited
Cornpany Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2023
2023
2022
Cash flows from operating activities
Net expenditure
(493,716) 1725,873)
Adjustments for.
Depreciation of tangible fixed assets
Net losses on investments
Dividends, interest and rents from investrnents
Other interest receivable and similar income
Interest payable and similar charges
Gains on disposal of tangible fixed assets
Accrued inc¢)me
48,427
303.536
(1.066)
60,149
747,258
(2,991)
(127)
43,526
{200)
(52,050)
60.844
(300)
(18,704)
Changes in..
Stocks
Trade and other debtors
Trade and olher creditors
80.686
37,968
116.153
{52.228)
208,134
20.977
Cash generated from operations
133,828
246,575
Interest paid
Interest received
{60,844)
{43,526)
127
Net cash from oFerating activities
72,984
203,178
Cash flows from Investing activities
Dividends, interest and rents from investments
Purchase of tangible assets
Proceeds from sale of tangible assets
Purchases of other investments
Proceeds from sale of other investments
1.[￿6
2,991
127,9131
4,789
(1.338) (252.032)
138,179
33,690
Net cash froml{used inl investing activities
138,207
(238,475>
Cash flows from financing actlvitles
Repayments of borrowings
Net cash used in financing activthes
(14.219)
(14,219)
(99,610)
{99,610)
Net increasel{decreasel in cash and cash equivalents
Cash and tash equivalents at beginning of year
Cash and cash equivalents at end of year
196.972
50.374
{134,909)
185.283
247,346
50,374
The nolgs on paggs 21 to 35 forni part of th8$9 financial statomènts.

Extra Care for Elderly People Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2023
General information
The charty is a public benefrt entty and a private company limited by guarantee, registered in
Northern Ireland and a registered charity in Northem Ireland. The address of the registered office
is Lucas Exchange, 1 Orchard Way. Greystone Road, Antrim, BT412RU.
Statsmont of compliance
These financial statements have been prepared in compliance with FRS 102. 'The Financial
Reporting Standard applicable in the UK and the Republic of I￿land,. the 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) (Charities
SORP {FRS 102)) and the COmpan￿S Act 2006.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. as modified by the
revaluation of certain financial assets and liabilitEs and investment properties measured at fair
value through income or expenditure.
The financial statements are p￿pared in sterling. which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a gcmng concern basis. The Trustees have
considered their posrf(ion and have provided further infomiation at rK)te 27 of these financial
staternents.
Judgements and key sources of estimatlon uncertainty
The principal accounting policies adopted, judgements and key sources of estimation uncertainty
in the preparation of the finan¢ial statements are as follows=
Fund accounting
Unrestr￿ed funds are available ts use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unreStr￿ed funds eamiarked by the trustees for particular future project or
C¢Jnmitment.
Restricted fijnds are subjected to restrictl￿S on their expenditure declared by the donor or
through the terms of an appeal, arKI fall into one of two sub•classes: restricted income funds or
endowment funds.
25

Extra Care for Elderly People Limited
Company Limited by Guarantee
Notes to the Financial Statements {¢ontiftvedJ
Year ended 31 March 2023
Accounting pollcles (conth>uedJ
Incoming resources
All incoming resources are included in the statement of financial actwities when entttlernent has
passed to the charity,. it is probable that the economic benefits associated with the transaction
will flow to the charity and the amount can be reliabty measured. The following specffic policies
are appli￿ to particukir categories of income..
income from donations or grants is recognised when there is e￿den￿ of entrtlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated gcods is measured at the fair value of the goods unless this is
impractical to measure reliably. in which case the value is derive(l from the cost lo Ihe donor
or the estimated resale value. Donated facilities and services are recognised in the
accounts when re￿Ned if the value can be reliably measured. No amounts are included for
the contributpjn of general volunt*rs.
income from contracts for the supply of services is recognised wrth the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent. in which case
it may be regarded as restricted.
Resources expended
Expendilure is recognised on an accruals basis as a liabilty is incurred. Expenditure includes any
VAT which cannot be fully recovered. arKJ is classified under headings of the statement of
financial activities to which rt relates..
expenditure on raising funds includes the costs of all fundraising activities, events, non-
charrtable trading actiwties. and the Sa￿ of donated goods.
expenditure on chartlable activtties includes all costs incurred by a charity in undertaking
activities that further rts charitable aims for the benefft of its beneficiaries. including those
support costs and costs relating to the govemance of the charty apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds for the
charrty nor part of its expenditure on chariiable &tivities.
All costs are allocated to expendtture categories reflecting the use of the resource. Direct cosls
attributable to a single activty are allocated directly to that activity. Shared costs are apportioned
between the a¢tivrties they contribute lo on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost. and subsequently staled at cost less any
accumulated depreciation arKI impairment losses. Any tangible assets carried at revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
26

Extra Care for Elderly People Limited
Company Limited by Guarantee
Notes to the Financial Statements (continuedl
Year ended 31 March 2023
Accountlng policies (continu￿)
Tangible assets {conth?uedJ
An increase in the carrying amount of an asset as a result of a revaluation. is recognised in other
recognised gains and hJsses. unless it reverses a charge for impaimient that has previously been
recognised as expenditure within the statement of financial activities. A decrease in the carrying
amount of an asset as a result of reValuat￿n. is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain, in which case Ihe loss is shown within
other recognised gains and Ioy3es on the statement of financial activities.
Depreciation
Depreciation is calculated so as to wrtte off the cost or valuation of an asset. less its r&sidual
value. over the useful economic life of thal asset as follows..
Freehold property
Motor vehicles
Equipment
User defined asset
2Yo Straight line
250A straight line
20% straight line
10% Stra￿ht line
Investments
Unlisted equty investments are initialty recorded at cost. and subsequentty measured at fair
value. If fair value cannot be reliably measured. assets are measured at cost less impaiment.
Listed investments are measured at fair value with changes in fair value being recognised in
income or expendtture.
Investment property
Investment property is initialty recorded at cost. which includes purchase price and any directly
attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any Ghanges in fair
value are recognised in income or expenditure.
If a reliable measure of fair value is no longer available wiihout undue cost or effort for an item of
investment property. it shall be transfe￿ed to tangib￿ assets and treated as such until f( is
expected that fair value will be reliably measurable on an on-going basis.
Impaimient of fixed assets
A review for indicators of impairment is carried out at each reporting date. wilh the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount. the assel is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.

Extra Care for Elderly People Limited
Cornpany Lirnited by Guarantee
Notes to the Financial Statements (conllniied)
Year ended 31 March 2023
Accounting policies (eoiitinut4
Impairment of fixed assets (continuerf)
For the purposes of Impalm￿nt testing, when it is not possible to estimate the recoverable
amount of an indiwdual asset. an estimate is made of the recoverable amount of the cash-
generating unit to wh￿h the asset belongs. The Cash￿enerating unrt is the smallest identifiable
group of assets that includes the asset and generates cash inflows that largely independent of
the cash inflows from other assets or groups of assets.
For impairment testing of goodwill. the goodwill acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating unrts that are expected to benefit from
the synergies of Ihe combination, i￿espectr￿e of whether other assets or Itabilities of the charity
are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and
sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing
the stock to rts present location and condrtion.
Financial instruments
A financial asset or a financial liabilty is recognised only when the charty becomes a party to the
contractual prowsions of the instrument
Basic financial instruments are initially r￿Qgnised at the amount receivable or payable including
any related transactFon costs.
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or received and nol discounted.
Debt instruments are subsequently measured at amortised cosL
I￿ere investments in shares are publicly traded or their fair value can otherwise be measured
reliab￿. the investment is subsequent]y measured at fair value wtth changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impairment.
Other financial instruments. including derNatives. are initially recognised at fair value, unless
payment for an asset is deferred beyond nomial business temis or financed at a rate of interest
that is not a market rate. in which case the asset is measured at the present value of the future
payments discounted at a Ma￿et rate of interest for a similar debt instrument.
Other financial instruments are subsequentty measured at fair value. with any changes
recognised in the statement of financial activtties. with the exception of hedging instruments in a
designated hedging relationship.
Financial assets that are measured at ¢ost or arnrtised cost are reviewed for objective evidence
of impairment at the end of each reporting date. If there is objective evidence of impaimient. an
impairment loss is recognised under the appropriate heading in the statement of financial
activities in whi¢h the initial gain was re¢ognised.
28

Extra Care for Elderly People Limited
Company Limited by Guarantee
Notes to the Financial Statements (¢MtIfti*
Year ended 31 March 2023
Accounting policies fconllnued)
Financial instruments (continuÈdJ
For all equity instruments regardless of significance, and other financial assets that are
individually signrficant. these are assessed individually for impairment. Other finanual assets are
either assessed Individual￿ or grouped on the basis of similar credit risk characteristics.
Any reversals of impaimient are recognised immediatety. to the extent that the reversal does not
result in a carying amount of the financial asset that exceeds what the carying amount would
have been had the impairment not previously been reccgnised.
Defined contribution plans
Contributions to defined contribution plans are reco3nised as an expense in the pemd in which
the related service is provided. Prepaid contributions are recognised as an asset to the extent
that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of Ihe end of th6
reporting date in which the employees render the related seN1￿. the liability is measured on a
discounted present value basis. The unwinding of the discount is recognised as an expense in
the period in which tt arises.
Limited by guarantee
Each of the members of the company has guaranteed to contribute to the assets of the company
in the event ofthe same being VKJuld up to the extent of£1.
Donations and legacies
Unrestricted Total Funds Unrestricted Total Fynds
Funds
2023
Funds
2022
Donations
Donations
75,519
75.519
264,051
264,051
Legacles
Legacies
90,122
165.641
.122
237
237
165.641
264,288
264,288
Charitsble activities
Unrestricted
Funds
Restr￿ed Total Funds
Funds
2023
Service income- Care
Other Income
3.775.609
2,944
3,775.609
44,863
41.919
3.778.553
41,919
3.820.472

Extra Care for Elderly People Limited
Company Limited by Guarantee
Notes to the Financial Statements (cont￿(
Year ended 31 March 2023
Charitable activitie5 (coniinuedj
Unrestricted
Funds
Restricted Total Funds
Funds
2022
SeNice income- Care
Other Income
4.185.280
4,185.280
99.388
99.386
4.185,280
99,386
4,284,666
Other tradlng actlvlties
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Rental Income
189.922
189.922
191.790
191,790
Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Income from listed inveslmenls
Bank interest receivable
1.066
1,066
2,991
127
2,991
127
1.066
1,066
3,118
3,118
Other income
Unrestricted Total Funds Unrestricted Tolal Funds
Funds
2023
Funds
2022
Gain on disposal of tangible fixed
assets held for charty's own use
300
300
2￿
200
10. Expenditure on charitable activities by activity typè
Activities
undertaken
directly Support costs
Total funds
2023
Total fund
2022
Provision of Care
Govemance Costs
3,415,845
930,968
20.768
4,346.813
20.768
4,701,388
18.154
3,415,845
951.736
4.367.581
4,719,542

Extra Care for Elderly People Limited
Company Limited by Guarantee
Notes to the Financial Statements (contIn￿o?
Year ended 31 March 2023
11. Analysis of support costs
Analysis of
support costs Total 2023 T¢)ts12022
staff costs
Premises
General office
Human resources
Govemance costs
539,105
323,599
51.412
16.852
20.768
539.105
323,599
51,412
16.852
20.768
653.777
331,749
58.445
25.246
18,154
951,736
951.736
1,087.371
12. Net losses on investments
Unreslrided Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Gainsl{losses) on investment property
Gainsl{lossesl on listed investments
Actuarial Gainl(loss} on Pension
(300,OW) (300.0￿)
(7.4411
17.4411
3,905
3.905
(750,100) (750,100)
3.135
3.135
(3.4281
{3,428)
(303.536} (303,5361 (750.393)
(750.393)
13. Net expenditure
Net expenditure is stated after chargingl(crediting)-
2023
2022
Depreciation of tangible fixed assets
Gains on disposal of tangible fixed assets
48.427
{300)
60,149
(200)
14. Auditors remuneration
2023
2022
Fees payable for the audit of the financial statements
11,731
7.932
15. Staff costs
The total staff costs and employee benefrts for the reporting period are analysed as follows..
2023
2022
Wages and salaries
Social security Costs
Employer contributions to pension plans
Other employee beneffts
3.230,180
247.048
52.096
64.410
3.768.026
258.037
64,030
3.593.734
4,090,093
31

Extra Care for Elderly People Limited
Company Llmlted by Guarantee
Notes to the Financial Statements (¢onl￿1{￿o)
Year ended 31 March 2023
15. Staff costs (contlnued)
Redundancy payments totalling £64.410 were made during the year to four staff. Redundancy
payments were made to four staff during the year. totalling £64,410 which included ex-gratia
payments of £12,000. The redundancies arose from the restructuring of management structure in
the charity.
The average head count of employees during the year was 188 (2022: 240). The average
number of full-time equivalent employees during the year is analysed as follows..
2023
No.
167
21
2022
No.
212
28
Care Workers
Office Staff
188
240
The number of employees whose remuneration for the year fell within the following bands, were..
2023
2022
No.
£80.000 to £89.999
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for
planning, directing and controlling the activrties of the charty- The total compensation paid lo key
management personnel frjr services provided to the charity was £219,616 {2022.'£217,5911.
16. Trustee remuneration and expenses
The charty trustees were not paid or received any other benefits from employment with the
Charity in the year {2022.' £nil). They were not reimbursed any travel expenses during the
yearl2022.' £nil}. No charity trustee received payment for professional or other services supplies
to the charty (2022.. £nill.
32

Extra Care for Elderly People Limited
Company Limited by Guarantee
Notes to the Financial Statements (cont#iuedJ
Year ended 31 March 2023
17. Tangible fixed assets
Freehold
Property
Improvemen
Office
Motor Computer Equipment
vehicles equipment
and F&F
Total
Cost
At 1 April 2022
Disposals
At 31 March 2023
157.918
122.360
{8,995)
113,365
130,750
122.274
533.302
(8,995)
524,307
157.918
130,750
122.274
Depreciation
At 1 April 2022
Charge for the year
Disposals
At 31 March 2023
151.421
72,939
20.454
18.995)
84,398
92.656
16.797
80.435
10,368
397,451
48.427
18,995)
436,883
152,229
109.453
90.803
Carrying amount
At 31 March 2023
5,689
28.967
21.297
31,471
87,424
135,851
At 31 March 2022
6.497
49,421
38,094
41.839
18. Investments
Listed Investment
investments
properties
Total
Cost orvaluation
At 1 April 2022
Addrtions
Disposals
Fair value mvements
144,282
1.338
(138.179)
17.441)
1.800.000
1,944,282
1,338
(138,1791
1300,000) (307.441)
1,500.000
1,500.000
At 31 Ma￿h 2023
Impalrment
At 1 April 2022 and 31 March 2023
Carrying amount
At 31 March 2023
1,500.000
1,500,000
At 31 March 2022
144.282
1,800,000
1,944,282
All investments shown above are held at valuation.
Inveslment properties
The investment propety is included at fair value at 31st March 2023. Gains and losses are
recognised in the Statement of Financial ActivrtEs. The property was listed for sale during the
year and sale was agreed in November 2023 with sale price of £1.5 million and this forms the
basis for determining fair value of the property.

Extra Care for Elderly People Limited
Company Llmlted by Guarantee
Notes to the Flnancial Statements {conthiR
Year ended 31 March 2023
18. Investments (conllnued)
Financial assets held at fair value
The fair value of the investment propety is based on valuation carried out by independent valuer.
19. Stocks
2023
2022
Consumable stock
43.076
123,762
20. Deblors
2023
2022
Trade debtOTS
Prepayments and accrued income
Other debtors
75.317
26.232
129.293
118,195
19,130
131.485
230,842
268,810
21. Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
Trade creditors
AcKruals and deferred income
Social security and other taxes
Other creditors
1.195,000
47,530
238,927
165.449
40,243
1,197,558
9,236
257,621
71.876
32,892
1.687.149
1.569,183
22. Credltors: amounts falling due after more than one year
2023
2022
Bank loans and overdrafts
Other credrtors
67.300
50,080
82,866
73,155
117.380
156,021

Extra Care for Elderly People Limited
Company Limited by Guarantee
Notes to the Financial Statements {contkni*
Year ended 31 March 2023
23. Deferred income
2023
2022
At 1 April 2022
Amount released to income
Amount deferred in year
At 31 March 2023
16,134
(16.1341
16,144
16,065
116.065)
16,134
16.144
16.134
24. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined
contribution plans was £52.096 {2022.' £64.030}.
25. Anatysls of charitable funds
Unrostricted funds
At
1 Apr 2022
Gains and
At
losses 31 Mar 2023
Income Expendilure
Transfers
General funds
797,875 4,135,482 (4,334,757)
9,095
(303,536}
304,159
At
1 Apr 2021
Gains and
At
losses 31 Mar 2022
Income Expenditure
Transfers
General funds
1.523.748 4.644.676 (4.622.437)
2.281
(750,393)
797,875

Extra Care for Elderly People Limited
Company Limited by Guarantee
Notes to the Financial Statements (conliftued)
Year ended 31 March 2023
25. Analysis of charitable funds (contMJiiedJ
Restricted funds
At
1 Apr 2022
Gains and
At
losses 31 Mar 2023
Income Expenditure
Transfers
Special
Recognition
Payments
41.919
{32.824)
(9.095)
At
1 Apr 2021
Gains and
At
losses 31 Mar 2022
Income Expendtture
Transfers
Special
Recognition
Payments
99,386
(97.105)
(2.281)
26. Analysis of net assets between funds
Unrestricted Totsl Funds
Funds
2023
Tangible r￿ed assets
Investments
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
87,424
87,424
1.500.000
1,500.000
521,264
521,264
(1.687,149) (1,687.149)
(117,380) (117,380)
304.159
304.159
Unrestricted Total Funds
Funds
2022
Tangible fixed assets
Investments
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
135.851
135,851
1,944.282
1,944.282
442,946
442,946
(1.569.183) (1,569,183)
(156,021) {156,021)
797,875
797.875
36

Extra Care for Elderly People Limited
Company Limited by Guarantse
Notes to the Financial Statements (contin1￿rf)
Year ended 31 March 2023
27. Going concem
The charity has found it increasingly difficult since the Covid 19 pandemic to recruit care workers.
As a result. the number of hours of care il has been able to deliver has dedined, placing
increasing pressure on its cashfiows.
In June 2022 the charty's bank declined to renew the loan secured on the investment property
Lucas Exchange 2. The debt of £1.2m is ¢UTrentty treated as an interest-only overdraft facility
wrth the bank subject to n￿nt￿Y renewal.
The charity has been unable lo secure an altemative lender and, in response. the Irustees have
taken the necessary decision to sell the property. the prO￿ed5 of which will be used to repay the
outstanding debt to Danske Bank and strengthen cash reserves.
The charity has engaged an agent to market and sell the investment propety on its behalf and
has received an offer for an interested buyer and anticipates completion of sale before 31st
March 2024. The trustees anticipate the ongoing supwt of Danske Bank until such times the
property is sold. and the debt repaid.
As a result of these matters. the trustees believe there is a material uncertainty in relation to the
going concern basis adopted in the preparation of the financial statements.
In response to these matters, the trustees have tsken the following actions..
We have received an offer to the sell the propety and solicrtors have been instructed to
move to exchange contracts with the vendor.
We continue to work closely with Danske Bank to ensure their ongoing overdraft support until
such time5 as the building is sold.
We have completed a strategic review and restructure of the business to address the
reduction in the hours delivered.
Alihough it is not certain that these efforts will be SUC￿$$fUl, the Trustees. having careful
consideration and review of cashflow and budget forecasts. have determined that the actions
they have taken are reasonable and sufficient to mitigate the uncertainty and have therefore
prepared these financial statements on a going concern basis.
28. Analysis of changes in net debt
At
At 1 Apr 2022 Cash flows 31 Mar 2023
Cash at bank and in hand
Debt due within one year
Debt due after one year
50,374
(1.197,558}
(82.8661
(1.230.050)
196,972
247,348
2.558 (1,195.000)
15.566
(67,300)
215,096 (1,014,954)
37

Extra Care for Elderly People Limited
Company Llmlted by Guarantee
Notes to the Financial Statements (¢ontkn¢
Year ended 31 March 2023
29. Pension commltments
Northern Ireland Charitie5 Pension Scheme
The company participates in the scheme. a multi*mployer scheme which provides benefits to
some 12 non-associated employers. The scheme is a defined benefrt scheme in the UK.
It is not possible for the company to obtain SLfficient infomiation to enable Tt to accounl for the
stheme as a defined benefit s¢heme. Therefore rt accounts for the scheme as a defined
contribution scheme.
The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came
into force on 30 December 2005. This, together wtth dctuments issued by the Pensions
Regulator and Technical Actuarial Standards issued by Ihe Financial Reporting Council. set out
the framework for funding defined benefft occupational pension schernes in the UK.
The scheme is classified as a 'last-man standing arrangement.. Therefore the company is
potentially liable for other participaling employers, oblNJations rf those employers are unable to
meet their share of the scheme deficit following withdrawal from the scheme. Participating
employers are legally required to meet their share of the scheme def￿rt on an annurty purchase
basis on withdrawal from the scheme.
A full actuarial valuation for the scheme was carried out at 30 September 2016. This actuarial
valuation showed assets of £29.4m, liabilrties of £35.Sm and a deficit of £6.1m.
A full actuarial valuatton for the scheme was carried out at 30 September 2019. This actuarial
valuation showed assets of £35.4m, liabilities of £37.8m and a deficit of £2 4m. To eliminate this
funding shortfall. the Trustee asked the participatiro employers to pay additional contributions to
the scheme as follows..
Deficit contributions
From 1 August 2020 to 29 February 2028.. £1.280,605 in total (payable nK)nthly)
The recovery plan contributions are alhxated to each participating employer in line with Iheir
estimated share of the ￿herne liabilities.
ere the scheme is in deficit and where the company has agreed to a deficit funding
arrangement the company recognises a liabilty for this obligation. The amounl recognised is the
net present value of the deficrt reduction contributions payable under the agreement that relates
to the defKit. The present value is calculated using the discount rate detailed in these
disc105ures. The unwinding of the discount rate is recognised as a finance cost.
PRESENT VALUES OF PROVISION
31 March
2023
31 March
2022
31 March
2021
Present value of provision
64.959
81,853
99,459

Extra Care for Elderly People Limited
Company Limited by Guarantee
Notes to the Financial Ststements (¢onlinii
Year ended 31 March 2023
RECONCILIATION OF OPENING AND CLOSING PROVISIONS
Period
Period
endin9 31
ending 31
March 2023 March 2022
Provision at start of period
Unwinding of the discount factor (interest expense)
Deficit contribution paid
Remeasurements - impact of any change in assumptions
Provision at end of period
81.853
1,890
(14.879}
(3.905)
64,959
99,459
923
114,879)
(3,650)
81,853
INCOME AND EXPENDITURE IMPACT
Period
Period
Ending 31
Ending 31
March 2023 March 2022
Interest expense
Remeasurements- impact of any change in assumptions
1,890
{3.905)
923
(3,650)
ASSUMPTIONS
31 March
31 March
31 March
2023 •A per 2022 % per 20219/0 per
annum
annum
annum
Rate of discount
The discount rates shtyNn above are the equivalent single discount rates which, when used to
discount the future recovery plan contributions due, would give the same results as using a full
corporate bond yield cuNe to dI￿unt the same recovery plan contributions.
30. Contlngencles
Pension Scheme- Northem Ireland Charities Pension Scheme
Extra Care for Elderly People Limited participates in the Northern Ireland Charities Pension
Scheme. The scheme has reported a total overall deficit of £2.4m as at the last valuation date of
30 September 2019. These financial statements recognise a liabilty in respect of agreed deficit
reduction payments. not the charity's share of the overall scheme deficit. An additional liability
may crystalise in the event of the charty's Withdrawal from the scheme or a winding up of the
scheme however it is not possible to quantify this liabilty. The charity has no intention of
withdrawing from the scheme and there are no plans we are aware of to wind the scheme up.
31. Related parties
During the year, the charity procured print services from Imagis. a business owned by the spouse
of a member of the key management personnel of the charity. The total value of transactions in
the year was £114. There are no balances outstanding at 31 st March 2023.