Extra Care for Elderly People Limited Company Limited by Guarantoe Statement of Financlal Activitios lincluding income and expenditure account) Year ended 31 March 2025 2025 Unrestricted funds Total fund• Total fund8 2024 In¢om• and •ndowm•nts Donations and legacies Charitable activities other tradin9 activities Investment income Other income 640 3,506.374 640 3,506,374 751 3,276,460 89,444 272 5,409 3,512,428 5.409 Total Incom• 3,512.428 3.366,927 Expendlturo Expenditure on charitable aclivitie3 Total •xp•nditur• 10 (3,579,379) (3,579,379) (3,666,257) (3,579,379) (3,579,379) (3,666,257) Net galnsl{losses) on Inve8tments 12 3,032 3,032 (164.832) Not •xpondlturo and n•t movgm•nt In funds (63.919) (63,919) (464.162) Reconclllation of lunds Total funds brought fopNard Tot•1 funds cafrlod forward (160,003) (160.003) 304,159 (223,922) (223,9221 {160,003) The statement of financial activities Includes all galns and losses recognised in the year. All income and expendiiure derfve from continuing activities. The notes on pageg 23 to 38 fonn part of these flnanclal ststement8. 20
Extra Care for Elderly People Limited Company Limited by Guarantee Statement of Flnanclal Posltlon 31 March 2025 2025 2024 Nots Fixod as$ots Tangible fixed assets Investments 17 18 31,141 54,106 1,430,000 31,141 1,484,106 Currnnt aM•ta Stocks Debtors Cash at bank and In hand 19 20 578 209.276 150,232 360,086 578 200,414 200,992 Creditors: amounts falllng du• wlthln on• y•ar Not curront Ilabllltl•8. 22 478.223 1.659.291 118.137 1,458.299 25,807 Total as8•ts1088 curront Ilablllti {86,996) Crodltorn: amounts f*lllng du• aft•r mom than on• y•ar Not Ilabllltles 23 136,926 185.810 (223,922) (160,003) Funds of the charlty Unrestricted funds (223,922) (160.003) (223,922) (160,003) Total ¢h•rlty lund• These financial statements have been prepared Sn attordanrA wlth the provlslon$ appllcable to companles subject to the 8mall companies, regimo. These financial statements ware approved by the board of trustees and authorlsed for Issue an 11 December 2025, and ar• signed on behalf of the board by.. A Bing (Chairperson) Trustee The notes on page$ 23 to 38 fomi part of th•s• flnanclal statemts. 21
Extra Care for Elderly People Limited Company Llmlted by Guarantee Statement of Cash Flows Year ended 31 March 2025 2025 2024 Cash flows from op•ratlng actlvltlo• Net expenditure (63,919) (464.162) Adjustments for Depreciation of tangible fixed assets Net gaIn{lo$S&S) on investments Dividends, interest and rents from investments (Xher interest recelvable and Simllar Income Interest payable and similar charges Galn8 on dispo$al of tanglble fixed assets Accrued income 20,265 (3,032) 34,288 164.832 (120) {152) 97.032 (5) 9,937 {5.409) (60,498) (4.718) Changes in.. Stocks Trade and other debtor8 Trade and other credrtors 42,498 30.428 (48,358) (58,659) (148,432) (8.862) 52,864 Cash g•nerated from operations Interest paid Interest received (9,937) (97.032) 152 Net cash used In operatlng aciivltle8 (68.591) (245.312) Cash flows from Invosting actlvltlo8 DNidends, interest and rents from invegtments Purchase of tangible assets Proceeds from sale of tangible assets Proceeds from sale of other investments 120 (970) 8,109 1.433,032 Net cash fronV{used in) invesb'ng activities 1.441,141 (850) Cash flows from financlng actlvlll•• Repayments of borrowings Net cash used in financing actr'vities (1,209,012) (1.209.012) {14,490} {14,490) Not In¢roa8olldocreaso) in cash and cash oqulvahnts Ch and cash oqulval•nts at boglnnlng of y•ar Cash and cash oqulval•nts at ond of yoar 163,538 (13,308) 150,232 (260,652) 247.346 21 (13,306) Th• nots• on pag88 23 to 38 fom) part ol th080 financial 8fatom•nt•. 22
Extra Care for Elderly People Limited Company Limited by Guarantea Notes to the Financial Statements Year ended 31 March 2025 Gen•ral inforniatlon The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 1st Floor, Unit 11b Fenaghy Road, Galgorm, Ballymena, BT42 1HW. Statoment of cornpllanco These financial Statement3 have been prepared In compliance wrth FRS 102, The Financlal Reporting Standard applicable in the UK and the Republic of Ireland,. the Statement of Recommended Practice applicable to charities preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charitle8 SORP (FRS 102)) and the Companies Act 2006. Accounllng pollcl•8 Ba•1• of pr•paratlon The financial statements have been prepared on the historrcal cost basis, a5 modffied by the revaluation of certain financial assets and liabilities and investment prop8rtieg measured at fair value through Income or expenditure. The financial statementg are prepared in sterling, which i¥ the fvnctional currency of the entity. Going conurn The financial statements have been prepared on a golng concem basis. The Trustees have considered thelr posits'on and have provlded further information at note 28 of these financlal statements. Judg•m•nts and k•y sourc•8 of ••tlmatlon unc•rtalnty The principal accounting policies adoptad, judgementg and key 8ource8 of e8timation uncertalnty in the preparation of the financial statement8 are as follows.. Fund a¢¢ountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the Charity's purposes. Designated fvnds are unrestricted funds earmarked by the trustees for particular future project or commitrnent. Restrided fvnds are subjected to restrictions on their expenditure declared by the donor or through the terms ol an appeal, and fall into one of two Sub-classes: restricted income funds or endowment lund8. 23
Extra Care for Elderly People Limited Company Limitod by Guarantee Notas to the Flnanclal Statements (conUnu•dJ Year ended 31 March 2025 Accounllng polic1•8 f¢onthu Incomlng r•8ourc68 All Incoming resources are induded in the statement of financial actlvits'es when entrtlement has pa33ed to the charity. it i¥ probable that the economic benefits assoGiated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income= income from donations or grants is recognised when there Is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income Is recognised when recelpt is probable and entrtlement is established. Incame from donated goods is measured at the fair value of the goods unless this is Impractlcal to measure reliably, In which se the value Is derived from the cost to the donor or the estimated resale value. Donated facilities and seDii¢e8 ar8 recognised in the accounts when received rf Ihe value can be reliably measured. No amounts are included for the contribution of general volunteera. Income from contracts for the supply of seThice8 is recognised with the delivery of the contracted service. Thls is classified as unrestricted funds unless therè 18 a contractual requirement for it to be spent on a particular purpose and returned if unspent. in which case It may be regarded as reslrlGted. Rosourcos expendod Expenditure is recognised on an accrual8 basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the statement of financial activities to which it relates.. expenditur8 on raising lunds includes the cost8 of all fijndralslng activltles. •vent8, non-charitable tradlng a¢tivitie$, and the sale of donated goods. expendbture on Charitable activlties Sncludes all Costs incurred by a charlty In undertaklng activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charlty apportioned to charitable activitl•8. other expenditure Includes all expenditure that i¥ neither related to raisin9 fund8 for the charty nor part of ts expenditure on charitable actr'vities. All costs are allocated to expenditure categories reflecting the use of the resource. Dlrect costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned bebNeen the activities they contribute to on a reasonable, justifiable and consislent basis. Tangibl• assets Tangible assets are initialty recorded at cost, and subsequentty stated at C05t less any accumulated depreclation and impalnnent losses. Any tanglble assels carrled at revalued amounts are recorded at the frdir value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impaimient losses. 24
Extra Care for Elderly People Limited Company Limited by Guarantse Notes to the Financial Statements (conYnu•d) Year ended 31 March 2025 Accounllng pollcles (Mntlnu•o3 Tanglbl• ass•ts {MnUnu•d) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and1083es, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shovm wSthln other recognised gains and Ioss8s on tha statement of financial activities. D•pr•¢latlon Depreciation is calculated 30 as to write off the cost or valuation of an asset. less its rnsidual value, over the useful economic Ilfe of that asset aj follow8.. Freehold propety Motor vehlclei Equipment Office Equipm•nt & F&F 2% straight line 25Vh straight line 200h straight line 10% straight line Investments Unllsted equity investments are inits'ally recorded at cost, and subsequently measured at falr value. If fair value cannot be reliably measured, assets are measured at cost less irnpairment. Llsted Investments are measured at falr value with changes In fair value belng recognised in income or expendlture. Inv••tm•nt pMp•rty Investment property is initialty recorded at cost. which indudes purchase price and any directty attributable expenditure. Investment propety is revalued to its fair value at each reporting date and any changes in fair value are recogni8ed in income or expenditure, If a reliable measure of fair value 1$ no longer available without undue cost or effort for an rtem of investment property, il shall be transferred to tangible assets and treated a8 such until it 18 expected that fair value will be reliably measurable on an on-going basls. Impalmi•nt of flx•d 4880ts A revlew for indicators of impairment is carried out at each reporting date. with the recoverable amount being estimated where such indirators exisL Where the carrying value exceeds the recoverable amount, the asset is impalred accordingly. Prior Impalrments are also revlewed for possible reversal at each reporting date. 25
Extra Care for Elderly People Limited Company Limited by Guarantee Notes to the Financial Statements Icgndnu•d) Year ended 31 March 2025 Accounting polici•s {conthu•dJ Impairmont of fix•d ass6ts (conllnu•dJ For the purposes of impairnient testing, vthen it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash*enerating unit is the smallest identifiable group of asset8 that includes th8 asset and generateg cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impaiment testing of goodwill, the goodwill acquired In a business combination is, from the acquisition date, allocated to each of the cash-generaling units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilits'es of the charity are assigned to those units. stocks Stocks are measured at Ihe lower of cost and estimated sellin9 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 its present location and condition. Flnanclal Instrum•nt8 A financlal asset or a financial liability Is recognlsed only when the char5ty becomes a party to the ¢ontractual provisions of the instrument. Basic financial instruments are initialty recognised at the amount receivable or payable including any related tran$aGtion costs. Current assets and current Ilabilitles are Subsequentty measured at the cash or oth•r consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value rAn otherwise be measured reliably, the Investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such inve8trnent8 are 8ub$equentty mea$ured at cost less impairment. Other financial instruments, including derivatives, are initially recognlsed at falr value, unless payment for an asset is deferred beyond nomal business temis or financed at a rate of interest that is not a market rate, in vthich case the asset is measured at the present value of the future payments discounted at a markat rato of interest for a similar debt in8trument. other financial Instruments are subsequently measured at fair value. any changes recognised in the statement of financial activities, wth the exception of hedging instruments in a designated hed9ing relationship. Financlal assets that are measured at cost or amortlsad cost are reviewed for objeclive evidence of impaimient at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading In the statement of financial activitres in which the initial gain vrns re¢ognised. 26
Extra Care for Elderly People Limited Company Limited by Guarantee Notes to the Flnanclal Statements (¢onthiu•rfJ Year anded 31 March 2025 Accountlng pollci•8 (¢onllnu•dJ Financial instruments (¢onthuodJ For all equty Snstruments regardless of significanc•, and other financlal assets that are individually significant, these are assessed individually for impairment. Other financial assets are elther assessed Individually or grouped on the basis of simllar cr8dli risk characteristics. Any reversals of impairment are recogni5ed immediatety, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. D•fln•d contrlbutlon plan8 Contributions to defined contribution plans are recognised as an expense in the period In which the related $ervlce Is provlded. Prepaid contributions are COgnised as an a88et to the extent that the p.repayment will lead to a reduction in future payments or a cash refund. Iljhen contributlons are not expected to be settled wholly withln 12 months of the end of the reporting date in which the employees render the related service, the liabilty is measured on discounted present value ba8ls. The unwinding of the d18count18 recognl$ed as an èxpen80 In the period in which it arises. Llmltod by guarant•• Each of the members of the company has guaranteed to contribute to the assets of Ihe company In the event of the Same being would up to the extent of£1. Donatlons and l•gaci Unrestrrcted Total Fund8 Unrestrtcted Total Funds Funds 2025 Funds 2024 Donatlong Donations 640 751 751 Charftabl• actlvltl Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Service income - Car• Other Income 3,504,446 1,928 3,506,374 3,604,446 1.928 3.506.374 3,275,963 497 3,275,963 497 3,276,460 3,276,460 27
Extra Care for Elderly People Limited Company Llmited by Guarantee Notes to the Financial Statements (¢onllnu•d) Year ended 31 March 2025 Oth•r tradlng actlvltl•8 Unrestrlcted Total Funds Unrestricted Total Funds Funds 2025 Fund$ 2024 Rental Income 89,444 89.444 Invo8bTr•nt In¢om• Unrestricted Total Funds Unrestricted Total Funds Funds 2026 Fund8 2024 Income from listed investment8 Bank interest receivable 120 152 120 152 272 272 Oth•r Incom• UnrestriGted Totsl Funds Unrestricted Total Fund8 Funds 2025 Funds 2024 Gain on disposal of tangible fixed assets held for charity'8 own usa 5,409 5,409 10. Expondltur• on charltabl• actlvities by actlvlty typo ActNities undertaken directly Support costs Tolal funds 2026 Total fund 2024 Provlsion ol Care Govemance casts 2.623,323 854,570 101.486 956,056 3,477,893 101.488 3,579,379 3,626,384 39,873 2,623,323 3,666,257 11. Analy81• of Support Costs Analysis of support costs Total 2025 Total 2024 Staff costs Premises General office Human resources Govemance ¢o$ts 554,498 225,526 65,370 9,176 101.486 956,056 554,498 225,526 65,370 9,176 101,486 429,196 290,275 52,765 16,547 39,873 956,056 828,656
Extra Care for Elderly People Limited Company Limited by Guarantee Notes to the Flnancial Statements fcontlnuedj Year ended 31 March 2025 12. N•t gainsl(loss•s) on inv•stmonts Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Gainsl(losses) on investment property Actuarial Gainl(loss) on Pension (70,000) (70,000) (94,832) (94,832) (164,832) (164,832) 3,032 3.032 3.032 3,032 13. Not •xpenditurn Net expenditUfe18 Stated after char9lngl(credltlng)'. 2025 2024 Depreciation of tangible fixed assets Gains on disposal of tangible fixed assets 20,265 (5.409) 34,288 14. Audltorn r•mun•ratlon 2025 2024 Fees payable for the audit of tha financial statements 21,480 12,500 15. 8taff co8ts The total staff costs and employee beneffts for the reportlng perlod are analysed as follovts: 2025 2024 Wages and salarles Social security costs Employer contributions to pension plans 2,822,144 210,629 42,804 3,075,577 2,754,028 192,378 62,560 3,008,968 The average head count of employees during the year wa8 161 (2024.. 164). The average number of fvlktlme equivalent employees durlng the year is analysed aB follows.. 2025 2024 Care Workers Office Staff 151 10 151 13 161 164 The number of employees whose remuneration for the year fell within the following bands. were: 2025 2024 No. No. £60.000 to £69,999 29
Extra Care for Elderly People Limited Company Llmlted by Guarantee Notes to the Financial Statements (conlinu•dJ Year ended 31 March 2025 15. Staff ¢08ts l¢onthiu•d) K•y Manag•m•nt Por8onn•l Key management personnel include all person$ that have authonty and responsibility for planning. directing and controlling the activities of the charty. The total compensation paid to key management personnel for services provided to the charity was £74,681 {2024.'£126.716). 16. Trust•• r•mun•ratlon and •xpan809 The charlty trustees were not paid or recelved any other beneflts from employment with the Charity in the year {2024: £nil). They were not reimbursed any travel expenses during the year(2024'. £nil). No charty trustee received payment for professional or other services 8upplies to the charty (2024.. £nil). 17. Tanglbl• fixod a88•ts Freehold Propety Improvemen Office Motor Computer Equlpment vehicles equipment and F&F Total Cost At 1 Aprll 2024 Disposals Transfers 157,918 (150,938) (6,980) 113,365 (15.413) 131,720 122,274 525.277 (166,351) 8.980 At 31 March 2025 97.952 131,720 129,254 358.928 D•prnclatlon At 1 April 2024 Charge for the year Disposals Transfers 152.909 102,740 7,110 (150.642) (13,009) (2,267) 120,513 6,790 95,009 6,385 471,171 20,265 (163.651) 2,267 103,641 At 31 March 2025 96.841 127,303 327.785 Carrylng amount At 31 March 202S 1,111 4,417 25,613 31,141 At 31 March 2024 6,009 10,625 11,207 27,265 54,106 30
Extra Care for Elderly People Limited Company Lirn iled by Guarantee Notes to the Financial Statements (¢onllnu•dJ Year ended 31 March 2025 18. Inv•stments Investment proportles Cost or valuation At 1 April 2024 Additions DiJpo¥als At 31 March 2025 1.430.000 (1,430,000) Impalrni•nt At 1 Aprfl 2024 and 31 March 2025 Carrylng amount At 31 March 2025 At 31 March 2024 1,430,000 All Investm•nts shown abov• arn h•ld at valuatlon. Inv•stmont prop•rtl•• The investment propety is included at fair value at 31st March 2025. Gains and losses arising from change5 In fair value are recognised In the Statement of Financial Activities in the period In ¥*thich they arise. The property was listed for sale in the prior financial year and sale was agreed In November 2023 wlth sale price of £1.5 mlllion this was revised to £1.43 million in December 2023 and this fomis the basis for determining fair value of the propety. The sale of the investment property was completed during the year ended 31 March 2025. and the carrying value of the Investment at year end IJ £nll. 19. stock• 2025 2024 Consumable stock 578 578 20. Dobtorn 2025 2024 Trade debtors Prepayments and accrued income Other debtors 4,323 20,617 184.336 54,485 6,378 139,551 209.276 200,414 31
Extra Care for Elderly People Limited Company Limited by Guarantee Notes to the Flnancial Statements {condnu•d) Year 8nd8d 31 March 2025 21. Ca8h and ca8h •qulval•nts Cash and ca$h equivalents comprise the following: 2026 2024 Cash at bank and in hand Bank overdrafts 150,232 {13,306) (13,306) 150,232 22. Cfodltorn: amounts falllng du• within ono y•ar 2025 2024 Bank loan$ and overdraft8 Trade credrftors Accruals and deferred Incom• Social security and other taxes Other credilors 23,549 75,815 173,711 164.463 40,685 1,208.306 35,901 234,209 123,217 57,658 478,223 1,659,291 23. Credltorn: amounts falllng duo aft•r morn than one y•ar 2025 2024 Bank loans and overdrafts Other credtlor8 15,249 121,677 136,928 52,810 133,000 185.810 24. D•ferrod Incom• 2025 2024 At 1 April 2024 Amount released to income 16,144 (16,144) At 31 March 2025 25. P•nsions and other post retirement b•n•rts Dofin•d contribution plans The amount recognised in income or expendiiure as an expense in relation to defined contribution plans was £42,804 (2024.. £62.560). 32
Extra Care for Elderly People Limited Company Limited by Guarantee Notes to the Flnanclal Statements (¢onUnu•¢ Year ended 31 March 2025 26. Anaty•l8 of charltablo funds Unrnstrlctsd funds At 1 April 2024 Gains and At31 losses March 2025 Income Expenditure General ftinds (160,003) 3,512,428 (3,579,379) 3,032 (223,922) At 1 Aprll 2023 Gains and At31 losses March 2024 Income Expenditure General funds 304,159 3,366,927 (3.666,257) {164,832) (160,003) 27. Anaty•l• of n•t a•sots botwo•n fund• Unrestn'cted Totsl Funds Fund8 2025 Tangible fixed assets Investments Current assets Creditors less than 1 year Creditors greater than 1 year Not Ilabllltlos 31,141 31,141 360,086 360,088 (478,223) (478,223) (136.926) (136,928) (223.922) (223,922) Unrestricted Total Funds Funds 2024 Tangible fixed assets Investments Current assets Creditors less than 1 year Crediior8 greater than 1 year N•t Ilabilitle8 54,106 54,108 1,430,000 1,430,000 200.992 200,992 {1,659,291) (1,659.291) (185,810) (185.810) (160,003) (160,003) 33
Extra Care for Elderly People Limited Company Llmlt8d by Guarantee Notes to the Flnancial Statements (¢onUftu•d) Year 8nded 31 March 2025 28. Golng con¢•m The charity has found it dfficult since the Covid 19 pandemic to recruit new Care Workers. As result, the number of hours of care rt has been able to deliver has varied, placing pressure on its free cashflows. The Health Trusts cumulative annual uplift is repeatedly below wage increase costs causing an ever-increasing subsidy of NHS service$ by Extra C¥e. This is ants"cipated to continu•. The charity also a participates in a historical Defined Benefit Pension Scheme whlch has reported an overall deficit of £3.2m as at the last valuation date 30 September 2022. These Financial Statements recognise a liability in respect of agreed scheme d8ficii reduction payments. There are ongoing negotiations with the Scheme at present. In June 2022 the charty's bank decllned to renew the loan sacured on the inveslment property Luca5 Exchange 2. The property was subsequently sold. the mortgage paid, and surplus cash In)ect8d into the operatlonal cashflows. Thls has been used to keep the business going and as delivered hours have increased in mid 2025 cash holdings are still criti¢al to the ongoing operatlon. An annual for•ca3t cashflow has bèen prepared based on approved assumption3 vthlch at present show a long-term retum to a cash generative and cash positive position. The current uplift and Government ta proposals imposes an uncertalnty desplte an improving business position. The margins of the business have been restored to a normal basis for the business which has been encouraging. There is still a large debt overhang from the Covld and post Covid era whlch is significanlly draining cash generated at these delivered hours and margin¥. So, vthile the business remain cash generative and profitable, the cash constraints remain. As a result of these matters, the Trustees believe there 18 a material uncertainty in relation to the going concem basls adopted In the preparation of the Financlal Statements. In response to these matters, the tru$tee$ have taken the followlng acllons: We have completed on the sale of the Investment Property Lucas Exchange 2. We continue to work closely with Danske Bank to ensure their ongoing overdraft support. We have completed a strategic review and restructure of the busine89 to address the reduction in the hours delivered. We have taken steps to actively reduce overhead costj such as main office downsizing. closure of regional offices and reduction in key managernent personnel. Although it 15 not certain that these efforts will be successful due to the debt overhang, the Trustee$, having careful consideration and review of cashflow and bud9et forecasts, have determined that the actions they have taken are reasonable and sufficient to miti'gate the uncertainty and have therefore prepared these Financial Statements on a going concem basis. 29. Taxatlon The Company is a reglstered charity, and as such Is entitled to tax exempts'ons on income and proffits in furtherance of the Charity's prirnary objectives.
Extra Care for Elderly People Limited Company Limited by Guarantee Notes to the Flnancial Statements (conthuod) Year ended 31 March 2025 30. Analysls of changos In not d•bt At At l Apr 2024 Cash flows 31 Mar 2025 Cash at bank and In hand Bank overdrafts Debt due within one year Debt due after one year 150,232 (13,306) 13.306 (1,195,000) 1,171,451 (52.810) 37,561 (1,261,116) 1,372,550 150,232 (23,549) (15,249) 111,434 3S
Extra Care for Elderly People Limited Company Limitsd by Guarantee Notes to the Flnancial Statements (¢onllnuedJ Y•ar ended 31 March 2025 31. Penslon commltmonts TPT Ratimmont Solutions - North•rn lrnland Charitiès Penslon Schemo The company participates in the scheme, a mUlti-emoYer scheme ¥*thich provides benefits to some 11 non-assoclated employers. The scheme 13 a defined benefft scheme in the UK. It Is not possible for the company to obtain sufficient information lo enable it to account for the scheme as a defined ben•fit scheme. Therefore rt accounts for the Scheme a¥ a defined contribution scheme. The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which rAme Into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reports'ng Council, set out the framework for fvnding deffined benefft occupational pension schemes in the UK. The scheme 15 classified as a 'last-man standing arrangemenf, Therefore the company Is potentially liable for other participating employers, obligations 11 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 deficit on an annuity purchase baslg on wthdrawal from the gchem•. A full actuarfal valuallon for the 8ch•me wai carrled out at 30 September 2022. Th18 valuatlon shOvd assets of £22.8m, liabilities of £26.Om and a deficit of £3.2m. To eliminate this funding shorttall, the Trustea has asked thè participating employers to pay additional cMtributions to the scheme as follows= D•fi¢it contrfbutlon• From 1 August 2020 to 29 February 2028.. £1.280,605 In total (payable monthty) The recovery plan contrlbutions are allocated lo each partlcipatlng employer In line with thelr estimated Share of the scheme liabilities. Where the sch•rne 18 In deficit and where the company has agreed to a doficit lunding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reductlon contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these dlsclosures. The unYnd5ng of the dlscount rate Is recognised as a finance cost. PRESENT VALUES OF PROVISION 31 Mar 25 31 Mar 24 31 Mar23 Present value of provision 136,556 147,879 64,959 RECONCILIATION OF OPENING AND CLOSING PROVISIONS 36
Extra Care for Elderly People Limited Company Limited by Guarantee Notss to the Financial Ststements (nn Year ended 31 March 2025 Period Perfod ending 31 ending 31 March 2025 March 2024 Provision at start of period Unwinding of the discount factor (interest expense) Deficit contribution paid Remeasurements - impact of any change in as$umpb'on3 Remeasurements - amendments to the contrlbution schedule Provision at end of period 147,879 6,588 (14,879) (3,032) 84,959 2,967 (14,879) 3,604 91,228 147.879 136,556 INCOME AND EXPENDITURE IMPACT Period Period ending 31 ending 31 March 2025 March 2024 Interest expense Remeasurements - impact of any change in assumptions Remeasurements- amendments to the contrlbution schedule 6.588 (3,032) 2,967 3,604 91.228 'Includes d•fin•d contribution 8cheme8 and future service contrlbutions (l.•. excluding any deficlt reduction payments) to defined beneffit schemes vthich are treated as defjned C(trIbU.0n scheme$. To be completed by the company. ASSUMPTIONS 31 March 31 March 31 March 2025 % per 2024 OA per 2023 O/a per annum annum annum Rate of discount The discount rates shown above are the equivalent single discount rates which, when used to dlscount the fvture recovery plan contributiong due. YUld gfve the same resutts as using a full AA corporate bond yield curve to discount the same recovery plan contributions. 32. Contlngfjncl P•n*lon S¢h•m•- North•rn lrnland Charlti•$ P•nslon Sehem• Extra Care for Elderty People Limited participates in the Northern Ireland Charities Pension Scheme. The scheme has reported a total overall deficit of £3.2m as at the last valuation date of 30 September 2022. 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. A contingent liability also exists to repay grants and Trust monies received should certain conditions not be fulfilled by the charity. In the opinion of the Trustees. the temis of the Letters of Offers have been, or will be, complied wrth and no liability is expected. 37
Extra Care for Elderly People Limited Company Limited by Guaranteo Note5 to the Financial Statements (¢onthu•rfJ Year ended 31 March 2025 33. Related partlos During the year, the charty 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 tran5action8 in the year was £506 (2024.. £nil>. There are no balances outstandin9 at 31 st March 2025. 34. Ethical standard• In common with many other bu$inesse$ of our size and nature we use our auditorg to prepare and submit retums to the tax authorities and assbst with the preparation of the financial statement8.