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CIC Annual review 2010/2011 29


2011 Financial year


Income


Independent Living Senior Care


Domiciliary & Extra Care Addictions & Homelessness


63% 32% 3% 2%


2010/2011 was a year spanning a new government and significant uncertainty around public spending and the potential for cuts to local authority and health budgets have a major impact on care and support services for individuals.


This year total income from charitable activities decreased marginally by 2% to £92.6m (2010 £94.4m), reflecting a combination of reduced fees and the planned closure of older ICL care homes in the latter half of 2010 and early 2011, which were planned as part of the takeover of Manchester Care.


Independent Living services saw organic growth in areas where CIC already have a presence and significant growth of Individual Budget packages of support of individuals.


Expenditure


Independent Living Senior Care


Domiciliary & Extra Care Addictions & Homelessness


63% 34% 3% 3%


Overall revenue expenditure at £87.6m was reduced by £6.1m on the prior year, reflecting tight and effective budgetary control and as a result of the strengthening of the infrastructure prior year.


Despite the fall in income, the total net surplus, before pension gains, of £5.6m shows a marked increase on 2010 (£0.8m) primarily due to various one-off costs in 2010.


Result


The net current assets of the Group have increased to £10.5m at the year end (2010 £4.2m). Long term borrowing remains low at £1.1m (2010 £1.1m), leaving the Group in a healthy position for future growth.


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