COMPANY REGISTRATION NUMBER: N1019253 CHARITY REGISTRATION NUMBER: NIC105012 Extra Care for Elderly People Limited Company Limited by Guarantee Financial Statements 31 March 2024 Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN
Extra Care for Elderly People Limited Company Limited by Guarantee Flnancial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the directorfs report) Independent auditorfs report to the members 15 Statement of financial activities (including income and expenditure account) 21 Statement of financial position 22 Statement of cash flows 23 Notes to the financial statements 24
Extra Care for Elderly People Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2024 The Ifustees, who are also the directors for the purwses of company law, present thelr rewrt and the finanual ststements of the charity for the year ermjed 31 March 2024. Reference and administrative detalls R8gistered charity name Extra Care for Elderly PpIe Limited Charlty reglstratlon number NIC105012 Company rggistration number N1019253 Principal office and registered 1st FIr office Unil 11b Fenaghy Road Galgom Ballymena BT42 1HW The trustees D Jefftey JFOY A Bing (ChairpeTson) C Craig T Tumer J Harbison (ApFM)inted 24 August 20231 (Reshjned 9 January 20241 Company secretary Asimpson Auditor Finegan Gibson Lid Chartered accountants & stalutcffy auditor Causeway Tower 9 James Street Soulh Belfast 8T2 8DN Bankers Danske Bank PO Box 183 Donegall Square West Belfast BT16JS Solicitors Worthingtons Solicitors 24-38 Gordon Street Cathedral Quarter Belfasl BT12LG
Extra Care for Elderly People Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlrector's Report) (conllnu&l) Year ended 31 March 2024 Slructure. governan¢e and management Governlng Document Extra Care for Elderly People Limited is a company limited by guarantee, govempAI by its Memorandum and Articles of Assock?tion dated 14th Febnjary 1986. as updated. approved and adopted on 31 st March 2010. The purtx)se of the charity is set out in the lects contained in the company's memorandum of association as follows". lal To relieve older and disabled peopte (including those vtho are ICely) by pyoviding appropriate care Ibl To provide care seNS to enable dependent adults and children to continue to INe at home and to provide support to famity carers.
Extra Care for Elderly People Limited Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Directorfs Report) (conunuedj Year ended 31 March 2024 Structure, govornance and management (eontinued) Appolntnnt of trustees Extra Care aims to ensure that a wide range of management, adrninistrdtion. financial, legal, research, health and social care skills and propety expertise are available on the Board of Directors and in the event of particular expertise being lost due to retirements, individuals with relevant knowled9e are approached to be co-opted onto the Board and stand for election at the following AGM. The Board of Directors are also Charity Trustees for the purposes of Charty law. Under the requirements of the Memorandurn atKI Articles of Association all Directors. other than the chairperson. retire al the AGM and have the option to put themselves forivard for re-election. At the AGM, the following directors and comrnittee chaits We elected: 1. Dame Joan Harbison (Chairperson) 2. Andrew Bing (Vice Chairperson) 3. Chris Craig 4. Julie Foy 5. Tim Tumer Mr D Jeffrey was co-opted to the board on 24th August 2023. In April 2024 the Chairperson passed away and the Vice Chair took the role as Chair which was supported by the other Trustses. Board & Committees In 2022. in response to the pressures generated by ongoirrfJ Covid19 pandemic and the smaller board of Trustees, the charity suspended its normal sub-committee structure during the year. Instead, it opted for increasing the frequency of full board meetings with an allernating focus on areas usually addressed by the sub-cornrnittees. This allowed the full board to have greater oversight of the key issues previously raised within the sub-committees. Specifically, the worf( of the Qualty Assurance Committee was subsumed into both the board and the monthly Reg 23 meetings. The Board met on the following dates in the year. 20th April 2023 15th June 2023 24th August 2023 19th October 2023 14th December 2023 15th February 2024 Meetings were a hybrid of in-person and virtual attendance vla Microsoft Teams. The board also established a committee to deal viith the review of the MonthW Qualty Monitoring Report {Reg231 under the chairmanship of Andrew Bing. The committee met prior to each Board Meeting to review these Retx)rts.
Extra Care for Elderly People Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) fcontlnuedj Year ended 31 March 2024 Structure, govemance and management (eontsnued) Members of the Company The following irmjivlduals are members of the Chartty as at the date of this report: 1. Andrew Bing (Chairperson) 2. Chris Crag 3. Julie Foy 4. David Jeffrey (Appointed 24th August 2023) 5. Tim Tumer Trustee induction and trainlng New trustees are recruited using an OFEn recruitment pro5S. Vacancies are advertised across social media and through relevant umbrella bodies and membership organisations. Applicants are then short-listed before being interviewed by a panel induding current trustees and the Managing DireL#or. Newly appointed trustees have Meetings with the chairperson. Managing Director and senior management team and are provided with detailed information relatiro to the organisation. its stratsgic plan, annual operational plan, annual budgeL polieS and prccedures. Each new trustee is provided with a New Trustses IrKluction Handbook during the induction process. Some Trustees attended staff meetings and accompanied care workers as they visited seNice users. Arrangements for setting pay and remuneration of key management personnel In the absence of the Finance Committee, the senior management team provided the board wtth recommendations to set pay and remuneration to key management personnel. office staff and to care staff as part of the annual bLKlgeting cycle using any benchmarks. parameters or criteria they feel are appropriate to reward and motivate while showing restraint and delivering on the tharitable goals of the organisation. Organisation At the date of this report. there are FIVE Twstees on the board. The directors are also the Charity Trustees and come from a wtde range of backgrounds and professional and working experience Ihal are relevanl to the work of the Charity arKI the board'5 role in overseeing this work and setting dlrection. The day-to4ay responsibility for leading the organiSatn,$ w(k and delivering on its strategy rests with the senior management team comprising of" Managing Director Director of Finance and Facilities
Extra Care for Elderly People Limited Company Llmltcd by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (¢ont1Rdj Year ended 31 March 2024 Structure, governance and management (continued) Related parties Extra Care is operating for the public benefit and the Trustees are acting in the interests of their Charity and not for private benefit. Related party transactions involving Trustees or slaff are considered incidenlal as it would have been applied for through the NHS and assigned in the same way as all other beneficiaries. All Trustse5 are requir to declare any conflict of interest at the beginning of each meeting. Risk management A risk managem8nt structure identrfies and scores the significant risks to the delivery of the objectives of the Charity along a matrix of likelihood and impact. The risk matrix is used as the risk register for the organisation and is rewewed on a quartedy basis to detect and report any movement in risk as a result of intemal perfomiance or extemal events. An organisational risk register is in place and available as a shared online resource to the entire board of Trustees. Throughout Ihe year the register updates are delegated to Ihe appropriate member of the Senior Leadership Team and updates approved at a full board meeting. Gtven the size of the compary and the relatively small head Offi function. an intemal audit function is not considered necessary. Any risk posed by the absence of an intemal audit fvndion is balanced by the oversight provided by the Trustees and the annual extemal audit. Objectives and activities Extra Care continues to posttion itself in a signrficant portion of the care at home market in Northern Ireland working in four trust areas and providing a countrywide assisted peritoneal dialysis setvice (APD}. As the longest established care at home charity and lebrating its 90th anniversary in 2025. Exlra Care's history is unique, the charity strives to ensure that it will continue to play a significant role in in the future. Over 608 people have been able to continue to Itve at home alone or alongsKle their families bause of Extra Care's support. The age of people supported ranges from adults of 30 years old to over 100 years old. The organisation employs over 160 care workers rximarity on substantive ensuring that they can have the work-life balance that those they for choose.
Extra Care for Elderly People Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (conllnuedj Year ended 31 March 2024 Objectives and actlvftles (contlnuedj Princlpal Actlvity The principal activty of the company during the year is the provision of care for people of all ages in their own homes and providing support for their carers. The core services provided by Extra Care across Northem Ireland generally fall into the following ¢tegles. _ Domiciliary Supp¢Jrt - designed to assist very highly dependent people either to remain in their own homes or to return home from hospital or residential care. Care is provided by care workers on a regular basis to help the service user with personal care tssks. Waking Night Help Services and Mobile Night sery1S - desigrEd to respond to the neeits of service users through the ovemight FerK)d. APD is an innovattve option for treatrnent of patients with end-stage renal failure in their homes. This therapy involves patEnts being treat with APD in their homes. with daily attendance of a health care assistant to perfonn a large part of the dialysis-relaled work.
Extra Care for Elderly People Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnu Year ended 31 March 2024 Achievernents and perforniance This year Extra Care delivered over 175.000 hours of care across the 5 Trust areas. Service Users by Type of Care Provided APD Dementia Team Elderly Team Learning Disability Team • Mental Health Team Physical Diiability Team
Extra Care for Elderly People Limited Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {ntInodj Year ended 31 March 2024 Achievements and performance feonlinuÈd) Hours Delivered by Commissioning Body 5.53 0.37 /• 6.250/. Private Clients _ 0.09 %
Extra Care for Elderly People Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) [RI1U0dJ Year ended 31 March 2024 Achlevements and perforniance (continued) Hours Delivered by Geographic Area APD Antrim Ballyclare Ballymena Belfast Carrick Cookstown Larne Magherafelt Newry Newtownabbey • Whitehead
Extra Care for Elderly People Limited Company Llmltod by Guarant•• Trustees. Annual Report (Incorporating the Directorfs Report) (¢ontlnu¢rfJ Year ended 31 March 2024 Achievements and performance (conllnuedj Care delivered to 608 service users Over 750,000 miles travelled by care workers Extra Care iii Over 225 people employed 175,000 hours of care provided 10
Extra Care for Elderly People Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (conllnu¢dJ Year ended 31 March 2024 Financial review The 2023124 year continued to be very challerong for Ihe charity. The abilty to delNer care is wholly dependent on the ability to provide sufficient slaff to deliver those care hours and the company continued to struggle to recrutt staff in large enough number5 to grow the business. As a result. the hours declined during the year. In response to the declining income stream and increasing cash flow tKessures. the charty went through a major re-structuring process in the Autumn of 2022 and has c(tinUed to re-structure as the opportunity has arisen. The new structure and reduced operating costs will place the charity in a more secure position in future years. Cashflow projections show a marginally positive result but are conditional on an increase in the regional rate offered by health trusts that is in excess of the statlrtory increase in wages arising from the National Minimum Wage and the thanges in National Insurance. In 2023124 the Charity earned irorne of £3,276.460 (2023: £3,820.472) from its charitable activities, the largest source of which was the Northem Health and Soo81 Care Trust. In June 2018 the Charity acquired Lucas Exchange11. an inveslment property located adjacent to the head office in Antrim. The income from rentals in the year was £89,444 (2023: £189,922). A further £272 was eamed from investrnents. The charity also received donations of £751 (2023". 165.641) bringing the total income for the year to £3.366,92712023: £4.177.401). Expendf(ure on charitable activibes amounted to £3,666.257 (2023: £4.367.581). A tolal of £93.48612023.' £58.709) was paid out in interest on an overdraft converted from a propety loan during the year, the Original purpose of which wa5 the purchase of an investment property. Before unrealised lo&ses on investments. the charity made a net deficti of £299.330. The charity inCurd an a¢tuwial loss on the Northem Ireland Chartbes Pension Scheme amounting to £94,832 (2023: £3,905 gain). In the prior year Ihe chartty listed the property for sale on the open market with a view to Using the proceeds to setue the overdraft secured upon it. The value of the propety has subsequently revrevalued in the accounts to refleci the sale price agreed of £1.43m, giving rise to an unrealised loss on revaluation of £70.000 (2023: £300.000). The sale completed post year end on 19th April 2024. After the revaluation. the net movement in funds for the year is a deficit of£464,162 (2023.. £493,716). The deficit brings the Chartws total unrestricted reserves to a net liability Postknon of £160,003 {2023: £797,875 surplus) of which £1,484,1C6 is represented by fixed assets including £1,430,000 12023.. £1,500,000) of investment property. 11
Extra Care for Elderly People Limited Company Llmltod by Guarantaa Trustees. Annual Report (Incorporating the Director's Report) (conlinu•d) Year ended 31 March 2024 Flnancial revlew (¢ortbnued) Investmentpowers and policy Under the Mernorandum and Articles of Asscciation. Extra Care has the power to invest in any way the Trustees wish. A specific investment policy is in place. The overall objectives of the investment policy are to enable the Charity to carry out its purposes consistently year by year with due and proper consideration for future needs and the maintenance of, and rf possible, enhancement of the value of the invested funds while they are retained. Both capi1 and incc*me may be used at any lime for the furtherance of the Chariws aims. ReseThes policy The reserves policy wll manage the level of unrestricted reserves in line with the requirements of Extra Care and best practice within the sector and is proportional to the scale and complexity of the organisation's affairs. This reserves policy states the purpose of holding the reserves and provides the public and existing and potential funders wrth a clear explanatL)n of the reserves held. A new reserves policy was adopted by the Trustees in early 2019. Cash reserves are needed to bridge the timing gap beiween spending and receiving of income and to cover unplanned temporary shortfalls in income should they arise. Holding adequate reseNes safeguards th8 provision of c)ur services in the event of unexpeded signfficarrt financial pressures. The Trustees consider that the ideal level of cash reseNes would be three months, expenditure. For the year ended 31 March 2024 the figure would be £917k. On 31st March 2024 the Charitys balance sheet shows net liabilities of £160.003. This cludeS tangible fixed assets of £54,106 and an inveslment rxoperty of £1.430,000. It also includes an overdraft of £1.95Tn wtthin ShOrt-te credttors which wll be repaid on completion of the sale of the investment propety, the circufflstances of which are set out in greater detail within note 28 of the accounts. This falls short of the Trustee5' target reserves and in response, actions are being tsken to address the reduced liquidity of the charity including a sale of its investment propety. Greater detsil of the Trustees, assessment of going concem is contained within note 28 of the accounts. 12
Extra Care for Elderly People Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnuedj Year ended 31 March 2024 Plans for future periods 2023124 continued to be a period of extreme pressure bwthin the Health and Social Care rnaet and has been exacerbated by the impact of the global pandemic. Pre*xisting financial pressures from National Living Wage, pension auto-enrolment and travel time continued lo mount on all providers and pressure on commissioners from continuing ntral and national govemment decreases in real terms funding shows no svjn of lessening. The social care sector has particularly suffered frorn a lack of staff since the pandemic. Since March 2020 at the beginning of the pandemic. the number of care workers employed within the Charity has fallen by over 35% from 233 Care Workers to 144. making it difficult for the charity to continue to deliver care at the same level as before. The impact has been a drop in the hours delivered from 5,500 to 3,300. This reduction in hours has had a significant impact on the Charty's financial results and cash flow and the charity has. on occasions. needed the suppcrt of tts bank in the form of a short-tem overdraft facility. In response to the declining income Stream and increasing cash flow pr8S5ures, the Charity went through a re-structuring process aThJ fvrther Signifint measures were laken in the post balan sheet period and the charity continues to seek to reduce its operating costs to place the Charity in a more secure position in fuiure years. Trustees. responsibilities statement The trustees, who are also directors for the purposes of company law, are responsib for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom GeneralEy ACpted Accounting Practice). Company law requires th8 charity trustees to prepare financial statements for each year which gtve a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources. including the income and expenditure. for that period. In preparing these financial statements, the trustees are required to: select sultae accounting wIleS and then apply them consistently, observe the methods and prirKiples in the applicable Charities SORP: make judgments and accounting estimates Ihat are reasonable and prudent: prepare the financial statements on the going CnCern basis unless it is inappropriate to presume that the charity will continue in business. The tStee5 are responsible for keeping adequate accountiThJ records that a sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are 8Sso responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud arKI other irregularities. 13
Extra Care for Elderly People Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) [All1u8dj Year ended 31 March 2024 Audltor Eath of the persons who is a bustee at the date of approval of this report confims that: so far as they are aware. there no relevant audit information of whlch the charitys auditor is unaware,. and they have laken all steps that they ought lo have tsken as a trustee to make themselve5 aware of any relevant audit infomiation and to establish that the charitys auditor is aware of that information. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 14 January 2025 arnl signed on behalf of the board of trustees by.. ABing( Trustee airperson) 14