NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
Charity registration number 1001348
Company registration number 02500924 (England and Wales) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr K Norton | |
|---|---|---|
| Mrs M E Young | ||
| Mrs M A Brotherton | ||
| Mrs B C Gough | ||
| Mr S J Hattersley | ||
| Mr R H Laidler | ||
| Mr N J Tindall | ||
| Mr I L Mould | (Appointed 24 April 2023) | |
| Mr E A Forrester | ||
| Mr D P J Clancy | ||
| Mrs J V Burke | ||
| Mr R Fellows | ||
| Mrs S Robson | (Appointed 24 June 2024) | |
| Secretary | Mr K Norton | |
| Charity number | 1001348 | |
| Company number | 02500924 | |
| Registered office | Cottage Care Centre | |
| Upper Bar | ||
| Newport | ||
| Shropshire | ||
| TF10 7EH | ||
| Independent examiner | Dyke Yaxley Limited | |
| 1 Brassey Road | ||
| Old Potts Way | ||
| Shrewsbury | ||
| Shropshire | ||
| SY3 7FA |
NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 14 |
NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply 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)" (effective 1 January 2019).
Objectives and activities
The objective for the company is the relief care and assistance of persons irrespective of colour, race or creed suffering from any form of sickness or incapacity and the advancement of education provision of facilities in the interests of social welfare for recreation and leisure time occupation for the benefit of the community in the Newport (Shropshire) District and surrounding neighbourhood.
The company’s principal activity is that of non-residential care and maintaining property in association with the League of Friends.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The public benefits form the activities of the trust due to its focus on health and well-being of the inhabitants of Newport and surrounding areas. Although its activities are limited geographically, the trust does not discriminate on the grounds of personal background, faith, gender, age or personal circumstances.
Achievements and performance
Significant activities and achievements against objectives
During the year, the company oversaw a small, planned increase in client numbers to what is currently seen as the maximum the care centre can accommodate. There is usually a waiting list of potential clients whenever a vacancy occurs.
The trustees/directors continue to look for ways in which the service to the clients can improve, particularly in respect of clients living with dementia.
The trustees/directors continue to be grateful for the support of the League of Friends.
The trustees/directors are of the opinion that the company remains financially stable and has retained adequate cash resources throughout the year under review.
Financial review
In 2024, the company generated total income of £437,134 (2023: £372,342) Operating, management and administrative expenses of £418,197 (£387,303) resulted in a net profit in funds of £18,937 (2023: £14,961 net loss)
Reserves policy
It is the policy of the trust to maintain unrestricted funds which are the free reserves of the company, at a level which equates to approximately three months unrestricted expenditure. In addition, the trustee/directors believe it prudent to retain additional reserves to allow for contingencies. This provides sufficient funds to cover management, administration and support costs. Unrestricted funds were maintained at an acceptable level throughout the year.
Major risks
The trustee/directors have reviewed the major risks to which the charity is exposed and systems of procedures and controls are in place to mitigate those risks and appropriate insurance has been taken out. In line with best practice, these policies will be reviewed on an annual basis.
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NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management
The charity is registered as a company limited by guarantee under number 2500924 and as a charity under number 1001348.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr K Norton Mrs Y J Gough (Resigned 1 May 2024) Mrs M E Young Mrs M A Brotherton Mrs B C Gough Mr S J Hattersley Mr R H Laidler Mr N J Tindall Mr I L Mould (Appointed 24 April 2023) Mr E A Forrester Mr D P J Clancy Mrs J V Burke Mr R Fellows Mrs J Shepherd (Resigned 14 March 2024) Mr T C Hannon (Resigned 24 April 2023) Mrs S Robson (Appointed 24 June 2024)
Recruitment and appointment of trustees
Trustees are recruited from the local area, are appointed by the existing trustees and are inducted into the role by the chairman. Training is provided where necessary.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £5 in the event of a winding up.
Organisational structure
The day to day management of the company is undertaken by the Centre Manager, supported by the executive committee of trustees.
The Trustees meet formally on a regular basis to review the affairs and financial performance of the company.
The trustees' report was approved by the Board of Trustees.
..............................
Mr K Norton
Trustee
Date: .............................................
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NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
I report to the trustees on my examination of the financial statements of Newport (Shropshire) Cottage Care Centre Trust Limited (the charity) for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Association of Chartered Certified Accountants (ACCA) - UK, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Audrey Williams FCCA Dyke Yaxley Limited
1 Brassey Road Old Potts Way Shrewsbury Shropshire SY3 7FA
Dated: .........................
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NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income and endowments from: Donations and legacies 2 104,241 4,000 Charitable activities 3 312,967 - Other trading activities 4 15,050 - Investments 5 876 - Other income 6 - - Total income 433,134 4,000 Expenditure on: Raising funds 7 5,651 - Charitable activities 8 395,411 17,135 Total expenditure 401,062 17,135 Net income/(expenditure) and movement in funds 32,072 (13,135) Reconciliation of funds: Fund balances at 1 April 2023 277,055 399,759 Fund balances at 31 March 2024 309,127 386,624 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 108,241 68,435 36,900 312,967 251,436 - 15,050 14,937 - 876 221 - - 413 - 437,134 335,442 36,900 5,651 5,754 - 412,546 354,535 27,014 418,197 360,289 27,014 18,937 (24,847) 9,886 676,814 301,902 389,873 695,751 277,055 399,759 |
Total 2023 £ 105,335 251,436 14,937 221 413 372,342 5,754 381,549 387,303 (14,961) 691,775 676,814 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
| Notes Fixed assets Tangible assets 14 Current assets Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Net assets excluding pension liability The funds of the charity Restricted income funds 18 Unrestricted funds |
2024 £ 29,453 160,580 190,033 (11,052) |
£ 516,770 178,981 695,751 695,751 386,624 309,127 695,751 |
2023 £ 29,279 147,074 176,353 (26,109) |
£ 526,570 150,244 |
|---|---|---|---|---|
| 676,814 | ||||
| 676,814 | ||||
| 399,759 277,055 |
||||
| 676,814 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on .........................
..............................
Mr K Norton Trustee
Company registration number 02500924 (England and Wales)
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NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
Charity information
Newport (Shropshire) Cottage Care Centre Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Cottage Care Centre, Upper Bar, Newport, Shropshire, TF10 7EH.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 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.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 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 land and buildings | 2% Straight line |
|---|---|
| Fixtures and fittings | 15% Reducing balance |
| Office Equipment | 15% Reducing balance |
| Motor vehicles | 25% Reducing balance |
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.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 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 to the contractual provisions of the instrument.
Financial assets and liabilities 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.
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NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
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.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Income from donations and legacies
| Unrestricted Restricted funds funds 2024 2024 £ £ Donations and gifts 36,295 4,000 Legacies receivable 67,946 - 104,241 4,000 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 40,295 50,000 36,900 67,946 18,435 - 108,241 68,435 36,900 |
Total 2023 £ 86,900 18,435 |
|---|---|---|
| 105,335 |
3 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Daycare rental & lunches | ||
| Income received from charitable activities | 312,967 | 251,436 |
4 Income from other trading activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Fundraising events | 15,050 | 14,937 |
We reclassified fundraising event income last year to allow for a more accurate analysis of income.
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NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
5 Income from investments
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Bank interest receivable | 876 | 221 | |
| 6 | Other income | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Net gain on disposal of tangible fixed assets | - | 413 | |
| 7 | Expenditure on raising funds | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Fundraising and publicity | |||
| Staging fundraising events | 5,651 | 5,754 |
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NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
8 Expenditure on charitable activities
| Charitable | Charitable | |
|---|---|---|
| costs | costs | |
| 2024 | 2023 | |
| £ | £ | |
| Direct costs | ||
| Staff costs | 264,772 | 232,284 |
| Depreciation and impairment | 32,479 | 35,873 |
| Motor and travel expense | 13,107 | 13,730 |
| Power, light and heat | 13,292 | 11,678 |
| Water, rates and insurance | 10,610 | 10,814 |
| Repairs and renewals | 18,729 | 22,439 |
| Advertising and telephone | 3,818 | 3,787 |
| Printing, postage and stationery | 2,517 | 3,233 |
| Cleaning | 2,875 | 3,298 |
| Sundry expenses | 10,687 | 11,480 |
| Fund costs | 10,583 | 6,136 |
| Food catering | 24,657 | 23,037 |
| 408,126 | 377,789 | |
| Share of support and governance costs (see note 9) | ||
| Governance | 4,420 | 3,760 |
| 412,546 | 381,549 | |
| Analysis by fund | ||
| Unrestricted funds | 395,411 | 354,535 |
| Restricted funds | 17,135 | 27,014 |
| 412,546 | 381,549 | |
| Support costs allocated to activities | ||
| 2024 | 2023 | |
| £ | £ | |
| Governance costs | 4,420 | 3,760 |
| Analysed between: | ||
| Charitable costs | 4,420 | 3,760 |
-
9 Support costs allocated to activities
-
10 -
NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
| 10 | Net movement in funds | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Fees payable for the independent examination of the charity's financial | |||
| statements | 835 | - | |
| Depreciation of owned tangible fixed assets | 32,479 | 35,873 | |
| Loss/(profit) on disposal of tangible fixed assets | - | (413) |
11 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
12 Employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries Social security costs Other pension costs |
2024 Number 24 2024 £ 257,593 4,262 2,917 264,772 |
2023 Number 24 |
|---|---|---|
| 2023 £ 232,284 - - |
||
| 232,284 |
There were no employees whose annual remuneration was more than £60,000.
13 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
| 14 Tangible fixed assets Freehold land and buildings Fixtures and fittings £ £ Cost At 1 April 2023 821,346 96,262 Additions - 22,679 At 31 March 2024 821,346 118,941 Depreciation and impairment At 1 April 2023 362,456 77,256 Depreciation charged in the year 16,429 4,472 At 31 March 2024 378,885 81,728 Carrying amount At 31 March 2024 442,461 37,213 At 31 March 2023 458,891 19,006 |
Office Equipment £ 34,364 - 34,364 28,465 884 29,349 5,015 5,898 |
Motor vehicles £ 95,992 - 95,992 53,217 10,694 63,911 32,081 42,775 |
Total £ 1,047,964 22,679 |
|---|---|---|---|
| 1,070,643 | |||
| 521,394 32,479 |
|||
| 553,873 | |||
| 516,770 | |||
| 526,570 |
| 15 Debtors Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 16 Creditors: amounts falling due within one year Other taxation and social security Trade creditors Accruals and deferred income 17 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes |
2024 £ 23,210 3,774 2,469 29,453 2024 £ 2,740 3,469 4,843 11,052 2024 £ 2,917 |
2023 £ 22,773 3,326 3,180 |
|---|---|---|
| 29,279 | ||
| 2023 £ 2,654 20,588 2,867 |
||
| 26,109 | ||
| 2023 £ - |
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NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
17 Retirement benefit schemes
(Continued)
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
18 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At 1 April | Incoming | Resources | At 31 March | |
|---|---|---|---|---|
| 2023 | resources | expended | 2024 | |
| £ | £ | £ | £ | |
| Land and Buildings | 211,910 | - | (7,540) | 204,370 |
| Wasting assets | 187,849 | 4,000 | (9,595) | 182,254 |
| 399,759 | 4,000 | (17,135) | 386,624 | |
| Previous year: | At 1 April | Incoming | Resources | At 31 March |
| 2022 | resources | expended | 2023 | |
| £ | £ | £ | £ | |
| Land and Builidngs | 219,450 | - | (7,540) | 211,910 |
| Wasted Assets | 170,423 | 36,900 | (19,474) | 187,849 |
| 389,873 | 36,900 | (27,014) | 399,759 |
Land and Buildings
This fund represents the monies received for the purchase of Land and Building. This is reduced annually by the depreciation charge allocated to the assets.
Wasting Assets
This fund represents the monies received to purchased assets which could include Fixtures and Fittings, Office Equipment and Motor Vehicles. This is reduced annually by the depreciation charge allocated to the assets.
19 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 April | Incoming | Resources | At 31 March | |
|---|---|---|---|---|
| 2023 | resources | expended | 2024 | |
| £ | £ | £ | £ | |
| General funds | 277,055 | 433,134 | (401,062) | 309,127 |
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NEWPORT (SHROPSHIRE) COTTAGE CARE CENTRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
| 19 | Unrestricted funds | (Continued) | |||
|---|---|---|---|---|---|
| Previous year: | At 1 April | Incoming | Resources | At 31 March | |
| 2022 | resources | expended | 2023 | ||
| £ | £ | £ | £ | ||
| General funds | 301,902 | 335,442 | (360,289) | 277,055 | |
| 20 | Analysis of net assets between funds | ||||
| Unrestricted | Restricted | Total | |||
| funds | funds | ||||
| 2024 | 2024 | 2024 | |||
| £ | £ | £ | |||
| At 31 March 2024: | |||||
| Tangible assets | 253,067 | 263,703 | 516,770 | ||
| Current assets/(liabilities) | 56,060 | 122,921 | 178,981 | ||
| 309,127 | 386,624 | 695,751 | |||
| Unrestricted | Restricted | Total | |||
| funds | funds | ||||
| 2023 | 2023 | 2023 | |||
| £ | £ | £ | |||
| At 31 March 2023: | |||||
| Tangible assets | 262,998 | 263,572 | 526,570 | ||
| Current assets/(liabilities) | 14,057 | 136,187 | 150,244 | ||
| 277,055 | 399,759 | 676,814 |
21 Related party transactions
Transactions with related parties
During the year the charity entered into the following transactions with related parties:
During the year, the charity received £29,239 from Newport League of Friends of which trustee Mary Young is also a Trustee. No amount were outstanding at the year end.
During the year, the charity purchased £1,007 from Partners in Care (Shropshire, Telford and Wrekin) of which trustee Susan Robson is also a director. No amount were outstanding at the year end.
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