Charlty reglstratlon number 1021086 Company reglstratlon number 02756650 (England and Wales) THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr GM Black Dr W Cunningham Ms MA Goidon Ms B Groves Ms ME A Jones Ms JE Lighlley Ms L Woodcock Ms EJ Haslings Mr D Alnslie Ms J Iley (Appointed 15 June 2023) {Appoinled 15 June 2023) (Appointed 15 June 2023) Secretary Ms EJ Hastings Mr N Brallhwait8 (Appointed 1 April 2024) (Re5ign8d 1 April 2024) Charlty number 1021086 Company number 02756650 Reglstered offlce Charlotle Straker House Cook50n Close Corbrldge Northumberland NE45 5HB Audltor Sumer AuditGo Limited Unll 2 Gosforth Park Avenue Newcastle upon Tyne NE12 8EG Bankors CAF Bank Limited 25 Kings Hill Avenue Wesl Malling Kent ME19 4JQ Lloyds Bank PIC 1 Legg Street Chelmsford Essex CM1 1JS Sollcltors Sintons LLP The Cube Barrack Road Newcastle upon Tyn6 NE4 6DB Inveslment advlsors Brewin Dolphin Time Central Gallowgate Newcastle Upon Tyne NE14SR
THE CHARLOTTE STRAKER PROJECT {A COMPANY LIMITED BY GUARANTEE) CONTENTS Page Truslees, report Independent auditofs report 16-18 Statement of financial activlties 19-20 Balance sheet 21 statement of cash flows 22 Notes lo the financlal statements 23-40
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees of The Charlotte Slraker Project, who are also directors of The Charlotte Straker Prqecl (CSPI for the purposes of the CompaniesAct 2006 and are referred to in thls report as'the Trustees present thelr report with the flnancial statements of the CSP for the year ended 31 March 2024. The Trustees have adopted the prowsions of Accounting and Reportlng by Charity's- Statement of Recommended Pracllce applicable to charity's preparing th8ir accounts In accordance with the Financial Reporting Standard applicabl& in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019). We are delSghted to present Ihe Annual R8POrt for The Charlolte Straker Project, a not-for-profil care home dedicated to provlding exceptional care and support to Ihe elderly members of our communlly. This report serves as a testament to our unwavering commitment to improving the lives of those in need, and it highlights the tremendous achievements and milestones we have reached over the past year. At The Charlotte Stiaker Project, W8 firmly belleve that every individual deserves to be Ireated wth dlgnlly, compasslon, and respect, regardless of their age or circumstances. Since our establlshmenl we hava remained steadfast in our mission lo enhance the quality of life for our residents, ensuiing they recelve Ihe hlghest standard of care in a nurtur5ng and homely environment. Due to ongolng financial constralnts and continued recovery followlng Ihe pandemlc we agreed to keep our fr8e of charge community resplle care bed closed and ulllise the room for funded long term care during 2023124. We are pleased to report that we will be announcing the reopening of thls bed in 2024125. Llke many charilies, we have experlenced challenges wilh general fundralsing and you will see in the ieport stralegles we have taken to improve this, bul as a business we have remained caullous lo ensure robust recovery. We have conllnu8d to support our residenls by priorilising their mental, physical, and emotlonal well-being, expanding Ihe activities programme and encouraglng increased inleraclions. Our varied programme included dally coffee morn5ngs, therapeutic massage, exerclse classes, crafting activities and visits from therapy anlmals, plus trips to Ihe theatre, seaside, concert halls. fishing lakes, garden centres, museums and local farms. The r8sid8nts loved the visils, with Ihe highllghl being riding in Ihe beach buggles down at Tynemoulh followed by fresh flsh and chips. Our dedlcated staff have undergone contlnuous training and professional development lo ensure they are equipped with Ihe skills and knowledge necessary lo provide the hlghesl standard of care to our residents.11 is positlve to see how the Iraining schedule has increased, suggestlons put forward from staff are included and the team have continued to brfng training in house where appropriate. Ov8r Ihe course of the pasl year, our dedicated staff team and volunteers have worked lirelessly to create an atmosphere of warmth, safety, and companlonship wilhin our care horne. Through their unwaverlng dedic811on and selfless efforts, we have been able to impact positively Ihe lives of our residents and thelr famili8s. foslering a s8nse of communily and belcnglng. None of these accomp5ishmenls would have been possible wilhout the steadfast support of our community. We exlend our deepest gratitude to our donors, volunteers, local businesses, and partnerlng organizalions for thelr invaluable contribullons and commilmenl to our cause. Their generosity has played a pivclal role in enabling us to make a profound and lasting difference in the lives of those we serve. As we look ahead, we remain resolule in our vislon of belng a beacon of excellence In elderly care. Our commllment to conllnuous improvement, innovation, and personalized support will guide us in enhanclng our services and meeting the evolving needs of our residents. We will continue to engage with staff, residents and families to ensure we Identlfy where changes are required and continue to improve the experience for all involved with Charlotle straker Project. Thank you for your unwavering support, Irusl, and dedication to The Charlolle Straker Project. Your belief in our mission certainly drives our determination to seNe with excellence and compassion.
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND STRATEGY Objectlves The obleclives of The Charlotte Straker Project are "the relief and rehabililalion of aged or infirm persons residenl In the local aulhoTily district of Tynedale or such other areas of the County of Norihumberland as the charily shall from tlme to lime determine Ilhe 'area of benefil,) as well as the relief and rehabililalion of aged or infirm persons resident elsewhere In the Unlled Klngdom who have close relations resident In Tynedale and In partlcular, bul wilhoul Ilmlllng tho foregolng, by providing or assisting in the provision of sheltered accommodation, and of nursing and oth8r facilities to alleviate the needs of such peisons And the advancement of the educatlon of the public wllh respect to health, houslng and welfar8 problems amongst persons in the area of benefit who are aged or infirm." Alms Our aims in 2023124 continued to include the provision of high-qualily nursing and residential care according to the Indlvidual's needs, supporting those finanGlally who cannol afford our fees. Through 2023124 we conllnu8d to recover from the pandemic - Covid-19 - therefore a number of additional actions were considered, ensuring safely as far as was possible for the resldents in our home. We continued lo ensure the home followed Covld advlce and requlred Infecllon conlrol measures and as such we kept Ihe spread or instances of Covid lo a mlnlmum. Our vlslon and values continued lo be person-centred to make sure people always remain at the heart of the service. Our specific objectives during 2023124 were to support each person lo stay as independent as possible and provide care when It Is needed, also to ensure high levels of infection control measuras wer& Implem8nted. I continued throughout the year lo receive reports until July 2023 Irom CQC with the following wording 'We have suspended our routine inspection programme in March 2020 in response to Covid-19 and do not intend to resume it for the Immedlate future. We have continued lo use a mlx of onsite and off-s5te monltorlng to ensure the public have assurance as lo the safely and quality of Ihe care Ihey receive. As we emerge from the pandemic, we are further developing our monitoring approach. In accordance with this approach, we Carried out a review of the data available lo us about Charlotte Slraker House on 04-06-2023. We have not found evldence that we need lo carry out an Inspecllon or reassess our ratlng al this slage. Th15 could change at any time Ifwe receive new Informalion. We will continue to monitor data about this seNlc8.' As there have been no formal inspections we continue to adher8 lo the CQC standards we were previous assessed by. sin July 2023 we have received a request for information about the home by completing a provider infonnation relurn. However thls has nol been followed up wlth a formal inspecllon. We set ourselv8s an oblectlve of achieving a conslstenl 97Qkn occupancy we achSeved 96.2tykn occupancy for 2023124. To achieve these aim8 we provide excellent staffing levels with quality leadership and a skllled workforGe, paying careful attention to the assessment criteria and requirements of CQC and NCC. We have had to continue lo use som8 agency staff to cover vacancies across the year and therefore there has been 8ven more emphasis on strong leadership vla Ihe Board of Trustees and the Senlor Management Team lo keep slandards hlgh. Our fundralslng group has been focusslng on fundraising for specific capllal Ilems. to meet the shortfall In fees, our acllvilies programme and complementary therapies. Our traditional events have continued including a Chilstmas Extravaganza, Summer Fele, and Family Cricket Weekend. The group are focusing on setting out a development fund structure so we can contlnue lo be clear about fundraislng alms going forward.
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Strategy for meetlng Charltable Purposes The principal areas of charitable activity continue lo relate lo the provision of residential and nurslng care to Ihe resldenls of Charlotte Slraker House along with accommodation in the form of bungalows which provide Independent living lo the occupan15. Charlotte Slraker House is a care hom8 that provides care & accommodation for up to 32 elderly residents in our well-equipped nursing and resldential rooms, plus sheltered houslng In 8 bungalows on site. The rooms In the main home are dually registered. The average age of our resldents is 88 years old. Care Is given according to individual needs and we support those who lack funds by making a charitable contribution in certain situations enabling any shortfall in fees to be met. We have craaled various key messages and have a marketing strategy to promot& our services lo our local population and increase community engagement via various channels including conlenl markeling, website and onlln8 presence, social medla, emailed and posted newsletters, adv8rts and articles In print and funclraising aclivllles, there is further information on this in the report. Work commenced looking al our Branding, Values and Missions statement to enhance our markellng strategy, we will condude this work in 2024125. Publlc b6n6fit The Board of Trustees has considered th8 Charity Commission's guidance on public benefit when considering the oblecllves and activities of the company. As a registered charity. the company seeks lo benefit the publlc through th8 pursuil of its 8taled objectives and stralegic priorities. The charity's principal source of income remains the fees and rents Ihal it charges for its nursing & residential care and housing accommod81ion. These are sel at a level to ensure the continued financlal viability of Ihe organisation, and whlch Is consistent wlth the charity's aim of provldlng high qualily s8rvices. The charily welcomes resldenls from all backgrounds. In pariicular, the charlly belleves It is Important that access lo accommodatlon Is not restricted to those who can afford lo pay. All the charity's houslng renls are sel in accordance wilh guldan¢e from th8 housing regulator on social and affordable r8nls. Durlng the year 230A of all of the charlty's nurslnglresldentlal care vrfas elther occupled by, or avallab18 to, those who may be unable to meet the cosl of such accommodalion frorn thelr own means. The charity supports with fundlng Ihe shortfall for Ihose residen18 unable to meet Ihe full amount
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 REPORT ON ACHIEVEMENTS, PERFORMANCEAND STRATEGY DEVELOPMENT Achlovements and performance Revlew of actlvltles The last twelve months have seen continued developmenl across all areas of the servlce at CSP. The Board agreed to a revision of the Senior Management team, through a move to create a General Manager (Registered Manager) and a Home Manager (Clinical & Operational) position alongslde the Deputy Manager. This was trialled over an 8- monlh period and following faedback it was agreed that Ihis was not fi+ for purpose and lack of visSbility of the management team was highlighled. As a result, we reverled back lo the previous model. The OrganisatK)n recelved the resignation from the Clinical Lead which was covered inlernally as an interim arrangement and J*t prior lo year- end the resignation of the R8glstered Manager was received. The Registered Manager has been roplaced with an interim appointment. This is providing the Board with an opportunity lo re-evaluate and ensure the best structure to reflect the needs, aims and objectives of the service as it moves forward. This will be implemented during 2024125. The admission journey for all new resldents has been revfiewed, wllh the aim of ensurlng both coMpance with recognlsed best practice including guidance Issued with the Competition and Markels Authorily (CMA) on consumer law wilhSn care homes, and greater transparency. Thls has resulled in the Implemenlallon of a detailed palhway from Ihe point of an initial enquiry being received, lo the polnt of admission to Ihe service. All supportlng documentation Is avallable for resldents and familles on the Vbsite or as a pack lo assist them with the Iransillon lo care. The Board have been fully involved in this improvement and will monitor delivery over th6 year ahead. Recruilment continues to be a key focus for the senilce, to ensure a full complement of staff to provide conslstency and quallty to resldents using the seNlce. The use of online plalforms, such as Indeed, to advertlse roles continues. It Is positive to be able lo report that use of agency staff has substanllally reduced from a cost of £205,539 In 2022123 to £82,617 in 2023124 and we will contlnue lo work lo further reduc8 this over 2024125 We have invested in a computerised EMAR medicalion system with the alm of provlding a more cohesive approach to medlcines managemenl acr08s the service. Amendments to the system and assoclated proc8sses continue to be made as we embed It withln Ihe seNlce. A new offering from the service in lerms of day care provision is available for the communlly. We have Ilmited thi8 lo two visitors per day to ensure this compllmenls but does not impact adversely on the running of the maln home. Guests can access homemade food, activities, access lo balhing facilities and company. INhere Ihls servlce h8S been used. it has been successful In supporting clients lo access care whilst continuing to live In Ih8lr own homes or with loved ones. As detailed earlier our activlties and engagement has gone from slrenglh to slrenglh over the last year, it should be hlghllghled that a much-valued aspect of the activily offering to residents. is the support provided by our volunteer team. Residents nol only welcome volunteer inleraction but look forward lo the engagement and companionship gained from our volunteers Ensurlng our staff and resldents families were kept updated was of key importance throughout the year, and regular intemal and external communications helped keep all 51akeholders updated with OUT position and wellbeing of the residents and staff. The Chair and Regislered Manager have continued with the personal contact wth staff. resldenls and relatives and face to face meetings where questions can be asked are favovred by many. Thls has worked well and was received positively. We have had changes in the Board and four Trust88s slood down during 2023124. Anna Blackett, Nell Bralthwalt8, Ann Wagstaff & Peter Willey have all gNen so much over the years lo Charlotte Straker and we are extiemely grateful to them and hoping they continue to sujport us as occasional volunteers. We did recruit four new Trustees but unfortunately one had to sland down and we Iherefore have ten Trustees on our Board.
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Communlcatlon We have Implemented an internal communications stiategy to ensure that information flows smoothly and foster8 collaborallon, allgnment, and a sense of purpose among employee5. Our Communication Objectives include: Increasing brand awareness and recognition ofThe Charlolle Straker Project within our targel audlences. Fostering deeper engagement with staff. residents, ralalives. supporters, donors, and volunleers. Communlcaling our successes and achievements to demonslrate lh8 impact of our work. The key communlcation channels utilised Include.. Webslt8: Our website serves as a central hub for Information, showcasing our mlsslon. s8rvlces, Jcb vacancies, and news. Our website is regularly updated. resulting in a 290/0 increase in new website users over the lasl 12 months. The most populaT pages are Nurslng & Resldenllal and Job Vacancles. The average tlme a user Spends on our web51te Is up by 640/0 to 1 minute 45 seconds. Social media: We mainlain a presence on key social media platforms Facebook, Twitter and to a lesser extent Llnkedln. Throughout 2023124, we consistently published engaging content wilh photos, storles and re8ls leadlng to a 610/0 growth In followers and a 1370A increase in social medla engagement. Emall Marketlng.. We utilize email marketing lo communicate wlth our relatives, supporters and doncK8, In th15 perlod, we continued lo regularly email targeted fundraislng and general news ilems, resulllng in a 50_70QA email open rates (compared lo an average UK industry open rate of 39.7Q/D) Media Relations., We actively build relationships with media outlets and secure press coverag8 for our work. In 2023, we secured 58 media placements Ihe Hexham Courant and three articles In the Newcastle Joum81, ralslng awareness of our organization and its impact. Community Events: Our vlbrant community events program fostars engagement and fundralslng. In thls period seven highly suGcessful events geneialed positive buzz and slrengthened our local connection3 to the community. Some of our highlighls were the development of the quarterly resident, r81aliv8. bungalow and staff newslelter with engaging stories and updates on our projects and residenls, the adoption of the 'reels' vldeo formal on Facebook and the creation of engaglng and popular content on resident actlvities and outings. Effective communication is an essential componenl of our success. We have several different stakeholder audlences, all requlring different ways of communicating. Through a multi.channel approach and strategic planning, we aim to continue fostering awareness, engagement, and support for The Charlotle Straker Project and the cruclal work we do.
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 NurslnglResldentlal Cllent Referrals Charlotle Straker has malnlalned a high profile within the local community throughoul 202314. This continues to be useful in the conlexl ol marketing and signposting lo the service. The senior management team continue lo maintain effective links with local hospllals, soclal work teams and th8 local GP service. Thls supports the development of and ensures that we maintain slrong relationships with community and primary care providers. We hava worked to ravlew the admissions procèss with ihè aim of providing a more transparent and Structured palhway from initial enquiry to admission to the service. The revised process also ensur65 a robusl approach lo assesslng and confirmlng funding arrangements prior to the point of glving authority to admit to the servlc8. We have commenced day seNice provision in the last twelve months. Thls allows the s8rvlce to offer day care opportunlties lo a maxlmum of two people from the local community each day. The servlce offered Sncludes access to activitles alongside the companlonship of p8ors. Care needs are met during the lime spent at Charlotte Slraker and, where issues are identified, signposting to community services provided. Engag8menl wllh the servlce, though slow lo develop, has already shown success In supporting people who requlre additional supporl with care needs and those seeking opportunlties for soclal engagement. We continue to promote and offer support in Ihls area. Volunteers Volunteers continue lo play a crucial role in enhanclng the well-belng and quallly of Ilfe for our resldenls. Thelr conlrlbulions go beyond the essential services provided by staff. bringing com.panionshlp, loy, and a sense of communily, Volunteers engage In various activitles such as spending tim8 With residents and befriending individuals, organising and leading the shop Irolley, leading arts and crafts sessions, accompanylng resldents on outings, holding religious services or even offering specialised skills like massage IherapSes. By dedlcallng thelr tlme and enlhuslasm. volunteers create an environmenl that promotes social Interaction, menlal stimulation, and emotional support, ullimalely making a significant posiliv8 impact on the overall happiness and conlenlment ol re81denls at Charlotle Straker House. Our volunteers also support our fundralsing committee. help organise. plan and run our fundraising events, such as our Summer Fete, Craft Falrs, Family Fun Day and many olher events. We currently have a number of volunteers who regularly commlt Ilme and support to CSP. The Charily really appreciates their commitment and is alming lo recruit further pwple who can then support more activities out in the community. We recognise our volunteers yearly- work is underway through the Board to Increase the number of volunteers and befrienders a5 we recognlse Ihal this will lurther enhance our residents, experience wilh us, Fundralslng Approach We commented In last year's report of the d5fficulties wilh fund ralslng durlng 202112022 as a result of belng unable to hold events either at Charfotle Slraker or within the communily. We declded to continue our approach of seeking larger donations from Trusts and over a three-year period wher8 possible. We have also continued lo seek donations as against specific needs at a smaller contribution level. We have seen an increase in evenls where our staff are keen to raise money for Ihe charlty to support specific projects and this Is greatly appreciated as they do this in their own time. This demonslrales Ihe family approach In CSP.
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Fundralslng Thls year. our fundraislng offorts focused on three objecllves,. Helping our Residents afford their car8.. Each year we seek to raise funds to help pay 'lop up fee shorlfalls" for our local authority funded residents. This shortfall makes up the difference between Ihe aclual cost of care in our care home and the payment that a local authority is willing to make. We have been able b support nine local authorily resldents In thls way, over the past iwelve months. Activities and Outings.. We try to offer our residents a varied and stimulating calendar of outlngs and activltles, and donallons and grants have helped us with the cost of arranging these visits. plus the cost of hiring transport to the different locations. Home Refurbishment: We are embarking on a refurbishment project to enhance the living experlence for our resldents. We have raised lunds to modernize th8 individual rooms plus space5 In the heart of our home, where residents spend a significant amounl of lime. Upgrading these areas will create a more comfortable, slimulatlng, and functional environment. We ar8 pleased to report a better year for community and individual fundraislng. Through the dedicatlon 8nd generosily of our local supporters, w8 held ov6r tan engaging events. These vital funds direclly support our projects and enable us to conllnue delivering exceptional services for our residents. From charity walks, the summer fete, pub quizzes, ceilidhs and famlly fun days, each evenl brought our communily togelher to ce5ebrale our cause and raise awareness about our charily. We are incredibly graleful to everyone who participated, volunteered, or donated to our events. Their support makes a real drfference in the lives of those w8 se& and this raised £15,046. Corporate Partnerships We established a corporate partnership wilh the Coop, by becoming part of their Local Community Fund. As part of this partnership, we recelve a percentage of all sales from Coop members, who slgn our organisation as Ihelr preferred charity. The funds will be used lo help fund our aclivitles for our resplte resident8. Legacles & Donatlons We are very grateful for the generoslty and support of Ind&vidual donors and companies, and during 2023124 we benefilted from the following receipts: Donations Legacies Grants £35,897 £703,811 £132,814 We are pleased lo report receiving eleven impaclful grants this year, in addilion to the Roland Cookson Fund al the Community Foundatlon, Tyne & Wear and Northumberland. whith is discussed below. These grants signifant[Y contrlbule lo enrichlng the lives of our residents and Ihe overall sustainabilily of our care home and include both restricted and unrestricted grants Resldent activllies: A grant of £5.000 supports a diverse program of activities, fosterlng social interaction, onjoyment, and mental stimulation for our residents. Enhancing wellbeing.. A £1,000 granl funds a regular exercise class for those with Parkinsons, promoting physical filness and overall well-being for our iesidenls and those In the local communily. Bridging the gap.. Five grants totalling £41.000 grant h81ps bridge the shortfall between resident fees and the actual cost of providing hlgh-quality care. Modernisation Project.. A grant of £2,200 contributes to the ongolng refurbishmenl of our care home, creating a more comfortable and functional environment for our residents. Pergola.. Agranl of £1,200 helped to fund fhe ouldoor Pergola Tralnlng '. A grant of£2,648 was received In respect of staff training Recruilmant: A granl of £2,845 was received to support staff recruitment We are deeply graleful to the generous grant-making bodies WIK) SUPPOrt our misslon. These granls play a vital role In ensuiing we can continue to provide exceptional care and a nuriuring environment for all our residents.
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Roland Cookson Fund at the Communlty Foundatlon Tyne & Wear and Northumberland Securing consislenl grant fundlng Is essential for our long-term suslainabilily. We were once agaln dellghled to recelve a grant of £77,121 from the Roland Cookson Fund. This now recurring annual giant provides invaluable support for our residenls. This reliable funding allows us lo confidently plan for the futur& and continue delivering exceptional care for our residents. We are incredibly grateful to the Roland Cookson Fund for their ongolng partnership and commitment to our mission. This year's grant has contributed to Ihe monles we have used to support those residen18 who are unable lo meet our full fees. Shortfall In fees As mentioned above each year we alm to provlde a charilable conlributlon to a number of our residents who have a shortfall In Ihelr fees due to lack of personal means. As cosls have risen and local authorily funding has nol kept pace then we are pul in a position for some residents. who do not have the means and a third party top up is not availabl8, of needlng to support them financially. Funds lo cover the shortfall have lo be ralsed by our fundraislng activity (as mentioned on p7). We have to carefully assess and manage our charitable contribution to the shortfall because If the sum becomes excessive then this will eal into our reserves which are finite. 11 is incumbent on Iruslees lo manage the resources of the charily very carefully and in particular ensure that those who are able to pay should pay and to lobby to ensure NCC fee struclura Is reformed lo reflect the true costs lo the charlly, Marketlng and PR We actively engaged in raising awareness aboul our servlc88 and fundraising n8eds through varlous marketing and PR stralegles. We are dedicated to ulilizing these funds responsibly and transparently. Your continued 8UPPOrt allows us to provide exceptional care and eniich the Ilves ol our re51denls. CQC Inspectlon As detailed in our aims no physical inspecllon5 have taken place throughout Ihe last twelve months at CSP. The last recorded updated review of information, published by CQC. via their own web site camè in July 2023. This slates that CQC have not recelved any Snformallon which means they did not need lo re- assess the existing rating al CSP at this lime. The last provlder Informatlon request from CQC was completed and submitted in March 2024. Our current CQC rallng Is 'Good' th 'Oulstandlng' for Well Led. Northumborland County Councll Monltorlng Vlslt No formal inspection has been forthcoming from NCC. A'spot check, visit took place during a visit to the service, In November 2023. Feedback provided on the day raised no formal issues and feedback regarding staff engagement and presentallon was wsilive. No planned visits have been announced and all provider meetings continu8 to ba held virtually. Tha Bulldlng Home Group have, following an axlensive review. carried oul a number of repairs to ensure health and safely of the building. We have upgraded Ihe corridors and commenced a programme of internal decorallon of communal areas and facilities. to enhance the overall quality of living space and provide a more homely environment for those residing at Charlotte Straker House. Improvement and further plans have been made to Ihe exterior of the building and the gardens. We conllnue to work closely with Home Group, as Freeholders, to report and monitor repairs as thes8 are required. We meet blmonlhly to ensure all improvements are made in required timescales.
THE CHARLOTTE STRAKER PROJECT {A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 strategic Plannlng for the future The Slia*egic Development Board has met on a number of occasions during the year and look part in the Board Meellng Revlew at whlch it Posed a number of queslions for consideration by tha Trustees. Charlolte Straker occupy the premlses by way of a Management Agreement from the freeholders Home Group. Home Group do not want to make further substanlial capital investment in the Hom8 given Its age and the fact that lh8 slle has been Intensively developed lo date. Th8 Truste85 have previously held discussions with Home Group regardlng any improvemenls they wlsh to make belng compensated by Home Group at the end of the term. Home Group were not prepared lo consider thls approach previously and the Trustees have spent funds in the previous years making all rooms benefit from ensuile facililles and added two bedrooms and an office. We have recognised th8 need lo bulld long temi relationships with Trusts and Indlvlduals allke In order to malnlain financial support that enables us to meet our Charitable objectives. Effective Fundraising lies al the heart of our ablllty lo meet the demands upon us. We have sought to upgrade the premises internally and extemally by preparing a programm8 of work Ihal would see each of the bedrooms belng refurbished on a 5-year rolling cycle and the common parts such as the Dining Room, KitGhen and Re8ident5' lounge belng adapted lo Improve the facllllies. FINANCIAL REVIEW Flnanclal posltlon The Trustees recognlse the importance of sound financial managemenl and have in place robusl financlal pollcles and controls which are reviewed regularly by the Flnance and Perfomiance Committee and Board of Truslees. We also acknowledge the vital and greatly appreciated support of our local community, donor5 and loyal employees. The year 2023124 conllnued to be challenglng, largely as a resull ol underfunding of the care sector. However th8 relianc8 on agency staff over the year was much less than In the previous year, which had a posilive impact on our underlying operating position. During the year, the Charity recelved three slgnlficanl legacles, totaling £703,811. The Trustees have delermlned that Ihese three legacies should be treated as designated funds. These Include a fund to support the provision of our free community respite bed which we re-opened in 2024, plus funds to conslder the home's longer term redevelopment options. A grant of £77,121 was received from the Community Foundation lo support core activilies. There were also Iwo grants recelved tolaling £20,000 which were designaled by trustees to help fund the shortfall on fees aiising from providing care lo a number of resldents who were funded solely by th8 local aulhority as a r@sult of their financial posillon. Grants lor restricted purposes tolaled £35,693. As at the end of Ihe year deslgnated reserves were £711,110 (March 2023.. £0). There was a net Inflow of funds of £777.189 {2023= nel outflow £71,446) (excluding restricted funds, transfers between funds and movements on investments) - unrestricted incoming funds of £2,881,215 (2023., £1,887,36Q) and outgoings of £2,104,046 (2023.. £1.958.806) There was an unrealised gain of £23,345 shown on the value of our investments, togelher with a realised loss of £114 on the Endowment Fund. As at the end of the year the Ihe charity had unrestrfcted reserves, excludlng deslgnated reseNes, of £1,134,633 (March 2023.. £1,045,229). Prlnclpal funding sources Our principal income is derived from accommodatlon fees from the 32 residenlial r(K)ms and 8 bungalows which make up The Charlotte Straker Project. Additional income is derived from our own fundraising activlties together wilh grants from various charities and trusts.
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Golng concern Al Ihe end of the financlal year and after taking appropriate action, the trustees consider that the chaiity has adequate resources to enable it to continue in operational existence for tha foreseeable future. For this reason, the charity continues to adopt Ihe going Concern basis in preparing Ihe financial stalements. ReseeS pollcy The Trustees had prevSously resolved to hold money and readily realisable investments equlva5ent to 6 months operatlng costs In the event that they had to wind down and cease operations. They were also mindful here of funding issues in the wider health economy and the restraints on budgels evidenced Sn recent limes. During the year ended 31 March 2023 reserves fell in ord8r to maintain cashflow as the wider sector continued lo recover from the Impact of the COVID pandemic, allowing the Charily to operate safely. During this period Trustees agreed to amend the Reserves Policy ID reflect a rninlmum flee reserves cover requir8ment equivalent to three months operallng costs. Thls approach has been mainta5ned during Ihe year lo March 2024. Trustees regularly review the actual level of free reserves held agaln5t Ihose required in accordance with this Pollcy, wlth the latter figure £650,000, As at the end of March 2024 aclual free reseNes (defined as those unrestricted funds not designated for speclfic purposes or tied up in fixed assets) stood al £804,149. whlch Is In accordance wlth this policy. Our reserves are represented by both fixed and current assels held, and includes monles held on deposlt and varlous inveslments held by the charity. The Truslees have taken a prudent approach lo Investmant, as delailed in the Inveslment Policy and Objectives secllon of this report, which strikes a careful balance between monles held as part of longer-lerm Investm8nls and monies held on deposit, that are more readily available for use when the ne8d arises. The reserves policy adopted ensures Ihal The Charlotte Straker Project has funds at Its disposal, that can be drawn on, so thal the charity can conllnue lo operate and fulfil ils financial commitments, even in such circumstances as have been seen Ihis year. Investment pollcy and objectlves A revlew of the charity Investment pollcy was carried out in February 2019 when It was agreed to appolnl Brewin Dolphin, a professional fund managemenl company as investment managers of £200,000 of ils Reserves. Thls Investment repres@nls the amount that Ihe Trustees f881 is prudgnl to place longer term and the oblectlves are to achleve above Inflatlon capital growth of inflation plus 2% with a moderate risk level which should allow the Charity at least lo maintain the real value of the assets, ultimately for the benefit of its cuirenl and fuluro rosidents, This has been achieved In the year ended 31 March 2024 when the increase in the value of investments was £26,347 from Ihe value al 31 March 2023. 10-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT {INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Rlsk management The Trusle8s have a duty lo idenlify and review Ihe risks to whlch the charity Is exposed and to ensure approprlate controls and miligaling actions are In place lo provide reas(x)able assurance against consequences. fraud and error. The Trustees continue lo revlew the buslness risks and have an active and systematic risk management strategy. Individual Board Commiltees have their own discrele Risk Registers which are shared with the Nominations and Governance Commillee prior to each Board Meeting. The highest scoring risks from all the Committees plus any specific lo th8 Board are then combined to produce Ihe Organisalional Risk Register (ORR) whlch Is shared, discussed and agreed at the Executive Board Meeting. Trustees have requesled thal there are always risks present on the ORR - Cash and Health & Safely - as they wish lo have knowledge of the current positk)n. All Fiisk Registers are based on the idenlification of risk in the first place (on a scored basls) and mitigaied in the 8e¢ond place (scored again), thereby hopefully reducing Ihe resultant score. Cash and Reserves are covered in detail elsewhere in Ihls report but 11 should be noted Ihal these areas are highlighted in the monthly management accounls whlch all Truslees receive and discussed in Board and olher committee meellngs throughout th8 year, The Board of Truslees were, and are, all aware of financial challenges and conlrlbuted lo discussions and plans for the Budgel 2024125 What is set oul above identlfies how CSP has and continues to manage our major rlsks In addllion to our "normal strategy" of Identifying th8 '1esserf types of risks that Charlolle Slraker faces. STRUCTURE GOVERNANCE AND MANAGEMENT GovernSng document The Charlotle Straker Project is controlled by ils governlng document, a deed of trust. and conslitules a limited company, limited by guaranlee, as defined by the CompanlesAct 2008. In the event of The Charlotle Straker Prolect being wound up. the individual liablllty of every member of Ihe charlty shall not exceed £1. Charlty congtltutlon The Charlotte Straker Project is a charitable company limlted by guarantee, regisler8d at Companies House, incorporated on 18 October 1992 and registered as a charlty on 17 May 1993. The oblects and powers of the charlty 8re as sel out In the Articles of Association. The trustees, who are also the directors for Ihe purpose of company law, and who served during the year and up lo the dale of signatur8 of the financial statements were: Mr GM Black Lady AM Blackett Mr NE Brailhwaite Dr W Cunningham Ms MA Gordon Ms B Groves Ms ME A Jones Ms JE Lighlley Ms MA Wagslaff Mr PG Willey Ms L Woodcock Mr RJ Eldridge Ms EJ Hastlngs Mr D Ainslie Ms J Iley (Resigned 20 September 2023) (Resigned 1 April 2024) (Resigned 1 April 2024) (Resigned 30 June 2023) (Appointed 15 June 2023 and reslgned 29 October 2023) (Appointed 15 June 2023) (Appointed 15 June 2023) (Appointed 15 June 2023) 11
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Rocrultment and appolntment of new trustees The directors of The Charlotte Straker Project are also Truslees of the d)arity. They are known as the Executive Committee. Each year al the AGM a number of the longest serving members retire, by rotation, and being ellgible and assuming willingness, may offer themselves for re-election. A term of office is recommended as nine years however if Trustees are willing lo continue and have valuable skills they wll be re-elecled. Taklng Into conslderalion the nature of the work that The Charlotte Straker Project undertakes, the Executive Committe8 seek lo ensure that the naeds of the sector of Ihe community that it serves are appropriately reflected through the diversily of Ihe Truslee body and that collectively the Trustees have the skills required enabllng the charlly to operate effectively. Thls is an ongoing process. as is an endeavor to anticipate succession planning for the Trustee cohort. The method of appoIntmen1nduCI10n of tTUStees was updated and reviewed In 2021 and Is now as Sel out below. This method of appointment Is managed by the Executive Committee reviewing the current sklllsel and looking to augment where appropriate. Trustees come from very diverse backgrounds and therefore have a number of skills to offer The Charlotle Straker Project. These indude medical, clinical, 18gal, financlal, property and managerlal. There are specific skills In safeguarding and care provision and therefore there is an excellent representallon on the Execullve Commltlee. In the year 2023124 we appointed Jane Hasllngs, Jane Iloy, Bob Eldddge and Dean Ainslie as new Trustees. Four Trustees stood down by March 2024, one of the newly appointed Trustees declared that they no longer wlshed to Gonllnue as a Trustee but would support as a volunleer. All details of the Trustees can be found on our webslte. The organisalion is requlred by the Charlly Commissbon to appolnt one of thelr body as their Lead Trustee on Safeguardlng Issues wllh a focus on 8nsuring appropriale Trustee overslght on Safeguardlng pracllc8 and procedures. The Trustee appointed is Lesley Thlrfvell (Woodcock) and thls responslbillty is renewed on an annual basls in June at the relevant Board Meeling The cuirent Truste88 are familiar wilh the practical work of the Charlotte Straker Prolecl. We regularly revlew and update our Inducllon and Tralnlng for new Trustees, the lasl such update being In October 2021. Any prospective appointment of a Trustee is discussed at a Nominallons Commltlee and then presented to the Execulive Committee before an approach is made. If the proposal is agreed the Chalr meets wllh Lhe potential new Trustee, to discuss the work of the chaiily and the role of a Trustee. An 'lnlioductory Pack, of informallon is provlded and helshe Is Invlted to attend the following Executive Commillee meeting as an observer and inlroduce th@ms8lves to the Board of Trustees. Included In the Introductory Pack the new Twsle8 is directed to the relalive Charlty Commlsslon website and sectlon on Ihe responslbllltles of a Trustee. Followlng the Executlv8 Meetlng Ihe Trustees will discuss the appointment once more and if agreed as sultable and, sublect lo all necessary checks belng completed, the person will be inviled lo become a Truslee. New Trustees attend induction training sessions run by the Chair and others which cover the obligations of Trustees, Safeguarding training, the maln documenls which sel out the operatlonal framework for the charity, Regulatory rewrls, the current financlal posliion including Ihe latest audiled accounts, management accounts and future plans and objectlves. As detailed during 2022123 there have been a number of Strategic Discussions regarding Ihe future of Char5otle Straker as an organisation with a number of models suggested. we th8refore planned to hold an in person Away Day 21 st May 2025 at which all Trustees together wilh agreed specialists lo review and agree our 'Strategy' and 8180 ensure all Trustees are updated. Trainee courses are made available to our Board and infomialion from Charity Commission and Solicltors provldes us wSth uplo-date Informallon regaidlng Charity awareness. 12-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT {INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Organlsatlonal structure The Executive Committee (Board of Trustees) continues to meet every quarter. The Executive Committee meetings include the Registered M8n8ger, to whom day lo day responsibility for delivery of care and the running of the care home faclllly Is delegated. This responsibility includes managiNJ the approprlate budgetary areas Sel oul by the Treasurer and Chair. The manager does not have voling rights. On the Board we have a.. Chair Vice Chair Treasurer Company Secretary There are 5 comm5tlees'. - Strategic Development (SDC)- Chalr Gavln Black Quality {QC)- ChairAnn Wag51aff unlll September 23 then Maureen Gordon Flnance and Performance (F&G) Chair Peter Willey until June 23 then Janlce Llghuey until December 2023 and then Jane Iley Fundralslng (FR)- ChalrAngela Jones unlil September 23 then Sally Urwln (Markellng Manager) Nomlnatlons & Govemance (NC & G)- Chair Beienice Groves BoaTd & Commltlee Slruclure as below: The trustees are responsible for defining the charity's senior managemenl pay polloy and deciding on the salary of th8 Registered and Deputy Manager. The board delegales this responsibility to th@ Nomination & Governance Committee signed off by the Board. The Registered Manager has the key operational leadership role in the Gharily. Nationally there is a dearth of good managers who are prepared lo manage Care Homes. It Is lrnportant to assure quality of care that we can both recruit and relain Ihe right person. 13-
THE CHARLOTTE STRAKER PROJECT {A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Senlor management team The SMT structure was reviewed, and changes made in 2023, to reflecl a 8tTUCture which included a Registered General Manager, a Home Manager and a Deputy Manager. Further changes through the resignation of Ihe Reglstered Manager and the Home Manager are anticipated and, to this end, a strategic review of the existlng sliuclure has commenced, led by the Chair of the Board of trustees alongside the Interlm Reg15tered Manager. The cuirent SMT structure now consists of the Interim Registered Manager, a Deputy Manager, and an Acting Cllnical Lead Nurse. Care North East The Charlotte Slraker Project is a member of a trade organlsation, Care North East (CNE), which looks al the ternis and condilions of Ihe conlraclual arrangements with Norlhumberland County Councll (NCC), We continue our membershlp of IhSs organlsation to ensure residenls are adequately supported by NCC. 2023124 was Ihe final year of our 3-year Contract, negotiations have taken place during this financial year. Outputs of this are presented In the new contract for 2024125. The Judlclal Revlew commenced in 2022123 conlinued during 2023124 and wlll conclude In the coming year. General Data Protectlon Regulallon (GDPR) As CSP lakes on new staff VrkShopS have b88n run covering the princlples of GDPR and the specific data protection systems. We hava appolnled our Office Manager as the InformatSon Governance L8ad lo ensure the pollcy Is adh8T8d to and any incidents are reported to the Informatlon Commissioners Office. Staff and tralnlng The staff team al Charlotle Straker consists of: Housekeepiiig team Cooklng and catering team Nursing and Care team Adminislralion team Recrullrnent ol staff has remained as a key focus Ihroughout the last Iwe5ve months. with success in recrullment meanlng that several new starters have been welcomed at Charlotle Slraker. Time has been Invested by the Chair of the Board and Trustees in listening lo staff and their concerns and Ideas, to ensure that the team feel valued and listened to. This has been successful in boosting slaff morale and focus. The service has seen several new recruits acr055 Ihe last year, in all departmenls within the service. Currently, support Is on-going to assist new8r recruits lo learn Ihe differing facets of thelr rol& and Ihls is SUPPOTted Ihrough the Inductlon process. staff Tralnlng Training for staff conlinues to be a key area of focus across the service. Focus moving fotward will be on working to eslablish 8 team of staff trainers and facililators to then cascade learnlng and knowledge across Ihe team al CSP. Key activity in training has been 8 focus on: Care Certificate Training NVQ Diploma in Care Gold Standard End of Llfe Care Values In Care Training Safeguarding training DOLS training 14-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Statomont of truste8s' responslbllltles The trustees, who are also the dlreclors of The Charlotte Straker Project foi the purpose of company law, ar& responsible for preparing the Truslees, Report and the financhal stalements in accordance with applicable law and United Klngdom Accounting Standards (Uniled Klngdom GenerallyAccepted Accountlng Practlco). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair vlew of the slate of affairs of the charity and of the Incomlng resources and application of r850urc8s, Including the Income and expenditure, of Ihe charitable company for that year. In preparlng these financial statements, the trustees are required lo.. select sullable accounllng policles and then apply them consistently. obseNa the methods and principles in the Charilies SORP., make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Stanclards have been foltowed, 8ubject to any materlal departures dlsclosed and explained in the financlal stalemenls., and prepare the financlal stalemenls on tha going concern basls unless11 Is Inappropriate lo pre8ume that the charity w511 continue In operation. The trustees are responsSble for keeplng adequate accounling records that dlsclose wth reasonable accuracy at any tlme Ihe financlal position of the charity and enable them lo ensure Ihal the financial statemenls comply wilh the Companles Act 2006. They are also responsible for safeguarding the assets of the charlty and hence for taking T8asonable steps for the prevenllon and deleclion of fraud and other Irregularlts'es. Audltor In accordanc8 with the company's artlcles, a resolution proposing thal Sumer Audltco Llmlled be reappointed as auditor of the company will be pul al a General Meeting. Dlsclosure of Informatlon to audltor Each of th8 Irust8es has confirmed Ihal there is no information of which Ihey are aware whlch Is relevant to the audit, bul of whlch Ihe audltor Is unaware. They have further confimed that they have taken appropriate steps 10 identify such relevant information and to establish Ihat the 8udltor is aware of such Information. The Iruslees, report was approved by the Board of Truslees. Grovos Truslee Dale., 15-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE CHARLOTTE STRAKER PROJECT Oplnlon We have audited the financlal slalements of The Charlotle Straker Project (the 'charily'> for the year ended 31 March 2024 which comprise the slalement of financial aclivitias, the balance sheet, the stalement of cash ff ows and notes to Ihe financial statements. including significant accounting policies. The financial reporling fr8mework that has been applied In their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Sl8ndard 102 Tli8 Financial Reporting Slandarcl applicable ii? lh8 UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our oplnlon, the financlal statements.. give a true and fair view of the state of the charitable companys affairs as at 31 March 2024 and of Ils Incoming resources and applicalion of resources. including ils income and expenditure. for the year then ended; have been properly prepared In accordance with Unlted Klngdom Genarally Accepted Accounting Practi. and have been prepared in accordance wlth the requlrements of the Companles Act 2006, Basls for oplnlon We conducted our audlt Sn accordance wllh Internallonal Standards on Audlllng (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibililigs for Ihe audil ol the financial slaleinants section of our report. We are independent of the charity in accordance wilh the elhlcal requlremenls Ihat are relevant to our audlt of Ihe financlal stalemenls In the UK, includlng the FRC'S Ethical Standard, and we hav8 fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audil evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing Ihe financlal statements, we have concluded thal the tmstees, use of the going concem basis of accountlng in the preparalion of the financlal statemenls is approprlate. Based on the work we have performed, we have not identified any material uncertainties relating to evenls or conditions that, individually or colleclively, may cast significant doubt on tne charity's ability lo continue as a golng concern for a period of al least Iwelve monlhs from when Ihe financial slatemenls are authorised for issue. Our responsibilities and Ihe responsibilities of the Iiuslees with respect to going concern are described in the relevant sections of this report. other Informatlon The other information comprises the informalion Included in Ihe annual reporl other than Ihe financial slatements and our auditor's report Ihereon. The trustees are responsible for the olher informatlon conlalned wilhln the annual repori. Our opinion on the financial statements does nol cover the olher information and. excepl to the extent othewise explicitly slated in our report, we do not express any fomi of assurance conclusion Ihereon, Our responslbilily Is to read Ihe other Information and, in doing so. consider whether the olher Information Is materially inconslstenl wlth the financlal 5tatemenls or our knowledge obtalned in the course of the audll, or otherwise appears to ba malerialty misstated. If we identify such material inconsistencies or apparent mateTial misstatements, we are required lo determine whelher this gives rise to a material misstatement in Ihe financial statements themselves. If, based on Ihe work we have performed, we condude that there Is a maleiial mlsslatement of this other information, we are required to report that fact. We have nothing to report In this regard. Oplnlons on other matters prescrlbed by the Companles Act 2006 In our oplnion. based on Ihe work undertaken in the course of our audlt: the information given in Ihe trustees, report for the financial year for which the financial slalemenls are prepared, which includes the directors, report prepared for the purposes of company law, is consislent with the financial stalements., and the direclors, report included within the trustees, report has been prepared in accordance with applicable legal requirements. 16-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE CHARLOTTE STRAKER PROJECT Matters on whlch we are requlred to report by exceptlon In the light of the knowledge and underslanding of Ihe charity and ils environment obtained in the course of the audit, we have not identified material misslalemenls in the directors. report included within the trustees, report. We have nothing to report in respect of the following malters in relation to which the Companies Act 2006 requlres us to report to you If, In our oplnlon- adequale accounting records have nol been kept, or relums adequate for our audit have not been recelved from branches not visited by us. or the financlal statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit. or the trustees were not enlilled to prepare the financlal slalements In accordance with the small companles regime and take advantage of the small companies, exemptions in preparing the trustees, report and from the requlremenl to prepare a strategic report. Responslbllltles of trustees As explained more fully in thè slatamenl of trustees, responsibilities. the trustees, who are also the directors of the charlly for the purpose of company law. are responslble for the preparation of the financlal stalemenls and for belng satisfied that Ihey give a true and farr view, and for such int8rnal control as th8 trustees determine is necessary to enable the preparation of financlal statements that are free from material misstalemenl, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assesslng the charily's ablllty to continue as g going concern, disclosing, as applicable. mallers ielaled lo going concèrn and using the going oncern basis of accounting unles5 the Irustees either inlend to liquidate the charilable company or lo cease operallons, or have no realistic alternalive but lo do so. Audltor's r8sponslbllltl65 for the audlt of the flnanclal statements Our oblectives are to obtain reasonable assurance about whether the financlal statements as a whole are free from material mlssta18ment, whether due to fraud or error, and to issue an audllor's report that Includes our op5nlon. Reasonable assurance Is a hlgh level of assurance bul Is not a guarantee thal an audlt conducted in accordance with ISAS (UK) will always d81ecl a material misstalemenl when il exists. Misstalemenls can arise from ffaud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to Influence the economlc declslons of users taken on the basis of these financial statements. The extent lo whlch our procedures are capable of dete¢llng Irregularlties. Includlng fraud. Is d&la15ed below. 17-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE CHARLOTTE STRAKER PROJECT Capablllty of tho audit In detectlng irreg ularltles, Includlng fraud Based on our undeislanding of the charitable company and the sector in which it operates, w8 identif18d that the followlng laws and regulations are significanl to Ihe entity.. Those laws and regulalions considered lo have a direct effecl on the financial statements Including UK financlal reporting standards, Company Law and Charity Law. Those laws and regulations for whSch non-compliance may be fundamenlal to the operating aspects of the charity and therefore may have a mateilal effect on the financlal statements Include compliance wlth Gharitable objectives, public benefit. fundraising regulations, safeguarding and health and safety leglslalion. These matters were dlscussed amongst Ihe engagement team at the planning slage and the team remalned alert throughout the audit. Audit procedures undertaken In response to the potential rlsks relating to Irregularltle5 (whlch Includ8 fraud and non- compllance wllh laws and regulations) comprised of.. inquiries of management and the Trustees as to wheth&r the entity complies wlth such laws and regulations,. enquiries with the same concerning any actual or potential litigation or claims., inspection of relevant legal correspondence and legal costs Incurred., review of Trustee meetlng mlnutes,, testlng Ihe appropriateness of journal entries- and the perfomiance of analytical review to idenllty unexpected movements in account balances whlch may be indicative of fraud. No nstanCeS of material non-compliance were identified. However, th8 lik81ihood of detecting irr8gularilies, Including fraud, is liniited by the Inherent difficulty In detecllng irregularities, the effectiveness of the entily's controls, and the nature, liming and exlenl of the audit procedures performed. Irregularities that result from fraud might be inherently more dlfficult lo detect than irregularities that result from error. As explained above, there Is an unavoldable rlsk that materlal mlsstatements may not be detected, even though the audit has been planned and performed in accordance with ISAS (UK), A further description of our r8sponsibilities is available on the Flnanc181 Reporting Council's webslte at: htlps.'Il .frc.org.ukJauditorsresponsibililles. Th18 descrlptlon forms part of our auditorfs report. Use of oiir report This report is made solely to tha charitable company's members, as a body, in accordance wlth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charl1ae company's members those malters we are required to slate to them in an auditor's report and for no other purpose. To the fullest extenl permilled by law, we do not accept or assume responsibility to anyone olher than the charitable company and the chaTltable company's members as a body, for our audit work, for this report, or for the opinlons we have formed. Mr Stephen Slater {Senlor Slatutory Audltor) for and on behalf of Sumer Audltco Llmlted Statutory Audltor Unlt 2 Newcastlg upon Tyne NE12 8EG 18-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Current financial year Unrestrlcted Unrestrlcted Restrlcted Endowment funds funds funds funds General Deslgnated 2024 2024 Total Total 2024 2024 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activilies Other trading acllvlties Investments Other income 109,202 2,015,327 9,651 11,492 3,705 726,464 36,856 872,522 199,889 2,015,327 1,775,047 15,046 21,896 11,621 7,905 3,705 14.787 5,374 21 129 Total Incoma and endowments 2,149,377 731,838 36,877 129 2,918,221 2,019,524 Expendlture on: Raising funds Ch8rftable acllvllies 4,554 2.085,229 1,484 32,779 6,038 11,809 2.134,985 2,081,764 36.977 Total expendltur8 2,089,783 34,263 36,977 2,141,023 2,093,573 Net galnsl{Sosses) on investments 14 23,345 {1141 23,231 (19,591) Net Incomel(expendlture) 102,939 697,575 (100) 15 800,429 (93,640) Transfers between funds 5,956 (5,956) Net movement In funds 11 102,939 697,575 5,856 (5,941) 800,429 (93,640) Roconclllatlon of fund5: Fund balances al 1 April 2023 1,031,694 13.535 26,429 5,941 1,077,599 1.171,239 Fund balances at 31 March 2024 1,134,633 711,110 32,285 1,B78,028 1,077,599 The statement of Ilnanclal aGtlvllles Includes all gains and losses recognlsed In Ihe year. All Income and expenditure derive from contlnuing aclivilies. The statement of financial activities also complies wllh the requiremenls for an income and expenditure account under the Companies Act 2006. 19-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Prlor flnanclal year Unrestrlcted Unrestrlcted funds funds General Deslgnaled 2023 2023 Restrlcted Endowment funds funds Total 2023 2023 2023 Noles Income and endowments from: Donallons and legacles Charitable aclivitles Other trading activities Investments Other Income 56,503 1,775.047 6.661 7,732 14.787 11,395 131,g91 199,889 1,775,047 21,896 7,905 14,787 15,235 173 Total Income and endowments 1.860,730 26,630 131,991 173 2,019,524 Expendlture on: Ralsing funds Charitable activities 11,809 1.858.870 11,809 2,081,764 88,127 134,767 Total expendlturo 1,870,879 88,127 134,787 2,093,573 Nel galnsl(losses) on inveslments 14 (19.357) {234) <19.591) Net InGome (29.306) (61.497) (2.776) (61) (93,6401 Transfers between funds (3.834) 4.018 (184) Net movement In funds (33.140) (57.479) (2,778) (245) (93,6401 Reconclllatlon of funds: Fund balances at 1 April 2022 1.064,834 71.014 29,205 6,186 1,171,239 Fund balances at 31 March 2023 1.031,694 13,535 26,429 5,941 1,077,599 -20-
THE CHARLOTTE STRAKER PROJECT {A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Flxed assets Tangible assets Investments 16 17 360,587 239,299 395,377 218.893 599,886 614,270 Current assets Debtors Inveslments Cash at bank and In hand 19 20 58,591 11,128 1,347,583 81,430 10,749 545,445 1,417.302 637,624 Credltors; amounts falllng du8 wlthln one year 21 (139,160) {174,295) Nel current assets 1,278,142 463,329 Total assets less current Ilabllltles 1,878,028 1,077,599 Capltal funds Expendable endowment 23 5,941 5,941 Income funds Restricted funds Designated unrestricted funds General unr8slficled funds 25 24 24 32,285 711,110 1,134,633 28,429 13,535 1,031,694 1,878,028 1,077,599 The financial statements were approved by the Trustees on . Groves Trustee s JE Llghtley Trustee Company reg15tratlon number 02756660 21-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operatlng actlvltles Cash generated fromJ{absorbed by) operallons 31 799,113 (29,051) Invesllng actlvltles Purchase of tangible fixed assets Purchase of investments Proceeds from disposal of Inveslmenls Investment income received (11,042) (27,964) 30,410 11,621 (30,098) (18,277) 15,064 7,905 Net cash generated froml(used In) Inve5tlng actlvltles 3,025 (25,406) Net cash used In flnanclng actlvltles Net Increasel(decrease) In cash and cash equlvalents 802,138 <54,457) Cash and cash equlvalents at beglnnlng ofyear 545,445 599,902 Cash and cash equlvalents at end of year 1,347,583 545,445 -22-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcle5 Charlty Informallon The Charlolle Slraker ProieGt is a private company Ilmited by guarantee Incorporated in England and Wales. The registered office is Charlott8 Slraker House, Cookson Close, Corbridge, Northumberland, NE45 5HB. 1.1 Accountlng conventlon The financial stalemenls have be8n prepared in accordance with the charity's governlng document, the Companles Acl 2006, FRS 102 'The Financial Reporling Standard applicable in the UK and Republic ol Ireland. {'FRS 102,1 and the Charitles SORP "Accounling and Reporting by Charities.. Slatem8nt ol Recommended Practice applicable to charit18s prèparing their accounts in aGcordance with the Financial Reporting Slandard applicabl& in the UK and Republic of Ireland {FRS 102> leffeclive 1 January 2019) The charTty is a Publlc Benefit Entity as defined by FRS 102. The financial statements are prep8r8d in sterllng, which Is the functlonal currency of the charity. Monetary amounts in these financial statemenls are rounded to the nearest £. The financial slalem8nls have been prepared under the hislorical cost convention, modified to include the revaluatlon of certain financial instruments at fair value. The prlncip81 accounting pollcles adopled are set oul b81ow. 1.2 GoSng concern At the tlme of approving Ihe financial stalemenls, the trustees have a reasonable expectation Ihal the charity has adequate resources to continue in operational existence for the foreseeable future, Thus the trustees continue to adopt Ihe golng concern basis of accountlng In preparing the financlal slalements. The Board has concluded that the going concern assumpllon is approprlale In preparlng these financSal statemenls. 1.3 Charltable funds Unrestricted funds are avallable for use at the dlscrelion of the Iruslee8 in furtheiance of their charitable objective8. Deslgnated funds Sre unrestricted funds that have been set aslde by the trustees for particular purposes. Rest(icled funds are subjgcl to specific condltions by donors or granlors as to how they may be used. The purposes and uses of the reslTicled funds are set out in the notes to the financlal slatements. Endowment funds are assets which musl be held by the charity, principally investments, the Income arlslng from which can be used in accordance with the objeclives of the chartty and is included as unre5trlcted Income. Any capital gains or 105ses arising on Investments, fomi part of the fund. Investment management charges and legal advice relating lo the funds are charged against the fund. Further Informallon of Ihe nature and purpose of thls fund Is included In the notes to Ihe financial slatements. 1.4 Income Income is recognised when th8 charity is legally entilled to it after any performance condltlons have been met, the amounts can be measured reliably, and il is probable that income will be recelved. Legacles are recognised on receipt or otheNiise if the charify has been notlfEd of an impendlng dEstrlbullon, the amounl is known, and receipt is expecled. If the amounl Is nol known, Ihe legacy 15 treated as a contlngent assel. -23-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (Contlnued) 1.5 Expendlture Expenditure is recognised once there is a legal or conslructive obligation lo transfer economic benefit lo a third party, It Is probable that a transfer of economlc benefits will be required in setllemenl, and Ihe amount of Ihe obligation can b8 maasured reliably. Expenditure accounted for on an accruals basls and ha classified by activily. Dlrect costs attributab18 to a single acllvily are allocated directly lo that activity. Where costs which contribute to more than one activity have been allocated to activlties on a basis consislent with the use of resources. 1.6 Tanglble flxed assets Tangible fixed assels are initially measured al cosl and subsequent5y measured at cost or valuation, net of depreclatlon and any Impairment losses. Depreclatlon Is recognlsed so as lo write off the cost or valuallon of assels18SS thelr resldual values over th8ir U8eful lives on the following bases: Leasehold improvement8 Fixtures and filtings Compuleis 3.33°/o Straight line 20Q/o reducing balance 33.3% reducing balance The galn or loss arislng on the dlsposal 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 aclivities. 1.7 Flxed asset Investm8nts Flxed assel investments are initlally measured at Iransaction pri excluding transaction cosls, and are subsequently measured at fair value al each reportlng date. Changes in falr valu8 are recogn5sed In net ncomellexpendilure) for the year. Transaction cosls are expensed as Incurred. 1.8 Impalrment of flxed assets Al each reporting end dale, the charlty reviews the carrying amounts of its tangible assets to determine whether there is any Indicallon that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is eslimated in order to deteimine the extent of the impairment loss (if any). 1.9 Cash and cash oqulvalonts Cash and cash equivalenls include cash in hand, deposits held at call with banks, other short-term liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown wtlhln borrowlngs In current Ilabllltles. 1.10 Flnanclal Instruments The charlty has elected to apply the provisions of Section 11 'Baslc Flnanclal Instruments, and Sectlon 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Flnanclal Instruments are recognised In the charity's balance sheet when the charily becomes party to the contractual provisions of Ihe instrument. Financial assels and liabllllles are offsel, wllh the nel amounls presented In the fln8nclal slalemenls, when there is a legally enforceable right lo set off lh8 recognised amounts and there is an intenlion to sellle on a net basis or to realise the asset and sellle the liability simultaneously. -24-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles {Contlnued) Baslc financlal assets Basic financial assets. which include debtors and cash and bank balances, are inillally measured al transacllon price Includlng Iransactlon costs and are subsequenlly carried at amorlised cost Ltsing the effective Snlerasl method unless th& arrangemenl conslilutes a financing Iransaclion, wher& the transaction is measured al the present value of the fuluie receipts discounted at a market rate of interest. Financial assets classlfied as recelvable wlthln one year are not amorlised. Baslc fin8nclal Ilabilltles Basic fsnancial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement conslilules a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a markel rale of Interest. Flnanclal liabllllles classifled as payable within one year are not amortlsed. Debl Inslrumenls are subsequently carfied al amortised Gost, using the effective Inlerest rale method. Trade creditors are obllgalions to pay for goods or seNices that have been acquired in the ordlnary course of operations from suppliers. Amounts payable are classified as currenl liabilities If payrnenl Is due wilhln one year or loss. If not, Ih8y are presented as non-current liabilities. Trade creditors ara recognised initially al transaction price and subsequently measured at amortised cost using Ihe effective interest melhod, Derocognltlon of flnanclal Ilabllltles Financlal liablliti85 are derecognised when th& charily's contractual obligations expir8 or are discharged or cancelled. 1.11 Employee beneflts The cost of any unused holiday entlllement Is recognlsed In Ihe perlod In whlch the employee's 8ervlce8 are received, Termlnallon beneflts are recognlsed Immedlalely as an expense when th8 charity Is demonstrably committed to lerminate the employment of an employee or lo provide termination benefits. 1.42 Retlrement beneflts Payments to defined conlribution reliremenl benefit schemes are charged as an expense as they fall due. Crltlcal accountlng estlmates and Judgements In the application of the charity's accounting policies, Ihe trustees are required lo make Judgements, estimates and assumpllons about Ihe carrying amount of assets and liabllilies that are nol readily apparent from other sources. The estlmates and associated assumptlons are based on hlslorical experience and other factors that are con8idered to be relevant. Aclual resulls may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. R8visions to accounting estimates are recognised in the period In which the esllmate is revised where the revision affects lY that period, or In the perlod of the revlslon and future periods where the revislon affects both current and future periods. Crltlcal Judgements Assesslng Indlcators of Impalrment In assessing whether there have been any indlcalors of Impalrmenl of assets, the truslees have consldered both external and internal sources of informalion such as market conditions and expBri8nca of recoverability, -25-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Crltlcal accountlng estlmates and Judgements (Contlnued) Key sources of estlmatlon uncertalnty Determlnlng resldual values and useful economlc Elves of tanglble flxed assets The charily depreciates tangible fixed assets over their eslimated useful lives. The estimation of the useful Ilves of assets is based on historic performance as well as expectalions aboul future use and therefor@ requlres estlmates and assumptions lo be applied by management. The actual Ilves of these assets can vary dèpending on a variety of factors, including technological innovalion, product life cycles and maintenance programmes. Judgement is applied by Iruslees when determining the residual values for tangible fixed assets. en determlning ihe residual value trustees alm lo assess the amount that the company would currently obtaln for Ihe disposal of the asset, if il were already of Ihe condition expeGted at Ihe end of its useful eGonomlc Ilfe. Vthere possible this is done with reference to external market prices. Income from donatlons and legacles Current flnanclal year Unrestrlcted Unrestrfcted Reslrlcted Endowment fiinds funds funds funds General Deslgnated 2024 2024 Total 2024 2024 2024 Donatlons and glfts Legacies receivabla Grants 30,420 1.661 77,121 4,314 702,150 20,000 1,163 35,897 703,811 132,814 35,693 109,202 726,464 36,856 872,522 -26-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donatlons and legacles Icontlnued) Unrostrlcted Unrestrlcted Restrlcted Endowment funds funds funds funds General Deslgnated 2024 2024 Total 2024 2024 2024 Grants recelvable for coro actlvltles Community Foundation Workforce Grant Tha Squires Foundatlon The W A Handley Charity Trust The Barbour Foundalion The Jolcey Trusl Hedley Denton The Willlam Leech Charity Northumbr18 Unlverslty Newcastle Th8 Ray Windfarm Fund CEC Parkinson's Society Th8 W G Edwards Charltable Foundation 77,121 77,121 2,846 10,000 10,000 10,000 1,000 2,000 10,000 2,647 5,000 1,000 2,846 10,000 10.000 10.000 1,000 2,000 10,000 2,647 5,000 1,000 1,200 1,200 77,121 20,000 35,693 132,814 Prlor flnanclal year Unrestrlcted Unrestrlcted R8Strlcted Endowment funds funds funds funds General Deslgnated 2023 2023 Total 2023 2023 2023 Donatlons and glfts Legacles recelvable Grants 22,225 24,278 10,000 11.395 33,820 24.278 141.991 131,991 56,503 11,395 131.991 199.889 Grants recelvable for core actlvltlos Community Foundalion Norlhumberland County Councll The W A Handley Charity Trust The Wlliam LeeGF7 Charily The Wlllam Webster Charitable Trust Norlhumbria University Nawcastle other 67,933 47,887 67.933 47,887 10,000 10,000 3,000 2,771 400 10,000 10.000 3,000 2,771 400 10,000 131,991 141,991 -27-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from charltable actlvltles Unrestricted funds 2024 Unrestricted funds 2023 Nurslng and care Nlirslng and care 2,015,327 1,775,047 Other tradlng actlvltles Current flnanclal year Unreglrlcted Unrestrlcted Restrlcted funds funds funds Genèral Deslgnated 2024 2024 Total 2024 2024 Fundr8islng events 9,651 5,374 21 15,046 9,651 5,374 21 15,046 Prlor flnanclal year Unrestrlcted Unrestrlcted Restrlcted funds funds funds General Deslgnated 2023 2023 Total 2023 2023 Fundraising events Other Income 6,254 407 15,235 21,489 407 6,661 15,235 21,896 Investments Unrestrlcted Endowment funds funds 2024 2024 Total Unrestrlcted Endowment funds funds 2023 2023 Total 2024 2023 Income from listed Investments Interest receivable 5.542 5,050 5,542 6.079 5,362 2,370 5,362 2,543 129 173 11,492 129 11,621 7,732 173 7,905 -28-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Other Income Unreslrlcted Unrestrlcted funds funds 2024 2023 Other income Insurance clalms 3.705 4,501 10,288 3.705 14,787 Ralslng funds Unrestrlclod Unrestrlcted funds funds General Deslgnated 2024 2024 Total Unrestrlcted funds General 2023 Total 2024 2023 dralsln Other fundiaising costs 4,554 1,484 6,038 11,809 11,809 4,554 1,484 6,038 11,809 11,809 Charltable actlvltles Resldentlal Resldentlal and nurslng and nurslng 2024 2023 Staff costs Depreciation and lrnpalrment Nurslng and care 1,487,076 1.429,934 45,832 48,083 596,077 597,747 2,128,985 2,075,764 Share of governance costs (see note 10) 6,000 8,000 2,134,985 2,081,764 Analysls by fund General unreslricted funds Designated unrestricted funds Reslricled funds 2,065,229 1,858,870 32,779 88,127 36,977 134,767 2,134.985 2,081,764 -29-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Support costs Governance costs 2024 Governance costs 2023 Audit leos 6,000 6,000 6,000 6.000 8,000 6,000 6,000 6,000 Analysed between Charitable acllvi118S 6,000 6,000 6,000 6,000 Governanc8 costs Includes payments to the auditors of £6,000 (2023.. £6,000) for audlt fees. 11 Net movement In funds 2024 2023 The net movement In funds Is staled after tharglngl(crediting): Fees payable for the audit of the charity's financlal statements Depreciation of owned18nglble fixed assets 6,000 45,832 6,000 48,083 12 Trustees None of Ihe trustees (or any persons connected with them) received any remuneratlon or benefits from the charity during the year {2023'. non8>. Trustees, expenses There were no trustees, expenses paid for tha year ended 31 March 2024 (2023: none). Trustee indemnily insurance costs amounted to £10,146 (2023: £5.123) duiing the year. 13 Employees The average monthly number of employees duFing th8 year TrKdS: 2024 Numbor 2023 Number Adminislralive Key management Nurslng and care staff 57 54 Total 65 62 -30-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Employees Icontlnued) Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 1,362,202 91,132 33,742 1,313,315 87,376 29,243 1,487,076 1,429,934 There were no employees who88 annual r8mun8ration wa8 more than £60,000. Remuneratlon of key managoment personnel The key management personnel of Ihe charity cornprise lh8 manager, deputy manager and office manager. The 18muneration of k8y management personnel was as follows: 2024 2023 Aggregate Compensation 132,874 132,808 14 Nel galnsl{losses) on Investments Unrestrlcted Endowment funds funds 2024 2024 Total Unrestrlcted Endowment funds funds 2023 2023 Total 2024 2023 Revaluallon of Investments Gainllloss) on sale of Investments 23,373 23.373 (18.579> (234) (18,813) (28) (114) <142) (778) (778) 23.345 (114) 23.231 (19.357) (234) (19,591) 15 Taxatlon The charity is exempt from tax on income and gains falling wilhln sectlon 505 of Ihe Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 31-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Tangible flxed assets Leasèhold Flxtures and Improvements fltllngs Computers Total Cost At 1 April 2023 Additions 534,692 423,137 8,562 37,549 2,480 995,378 11,042 At 31 March 2024 534,692 431,699 40,029 1,006,420 Depreclatlon and Impalrment At 1 April 2023 Depreclalion charged in Ihe year 270,739 16,339 304,180 24.813 25,102 4,680 600,001 45,832 Al 31 March 2024 287,078 328,973 29,782 645,833 Carrylng amount At 31 March 2024 247,614 102,726 10,247 360,587 At 31 March 2023 263.953 118.977 12,447 395,377 17 Flxed asset Inv8stm8nts Llsted Unllsled Investments Investments Tolal Cost or valuatlon At 1 Aprll 2023 Additions Valuatlon changes Disposa18 212,952 27,964 23,373 (24,990) 5,941 218,893 27,964 23,373 (30,931) (5,941) At 31 March 2024 239,299 239,299 Carrylng amount At 31 March 2024 239,299 239,299 At 31 March 2023 212,952 5,941 218,893 18 FlnanGlaS Instruments 2024 2023 Carrylng amount of flnanclal assets Instruments measured al fair value through profit or loss 250,427 223,701 -32-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Debtors 2024 2023 Amounts falling duo withln one year: Trado doblors other debtors Prepayments and accrued income 6,706 3,318 48,567 9,422 4,379 67,629 58,591 81.430 20 Current asset Investments 2024 2023 Unllsted Inve51menls 11,128 10,749 21 Cradltors: amounts falllng due wlthln one year 2024 2023 Other taxallon and soclal securlty Trade creditors Other creditors Accruals and deferred Income 21,331 44,625 51,657 21,547 19,958 40,481 82,809 31,047 139,16Q 174,295 22 Retlrement beneflt Schemes 2024 2023 Deflned contrlbutlon schemes Charge lo profit or loss In respect of defined contribution schemes 33,742 29,243 The charity operates a defined contribulion pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. -33-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23 Endowment funds Endowment funds represent assets which must be held permanently by the charlty. Income arising on the endowment funds can be used in accordance wilh the obj'ects of the charity and is included as unrestricted Income. Any c8pllal gains or losses arising on the assets form part of the fund. Movement In funds Resourcès Transfors expended Balanc8 at 1 Aprll 2023 Incomlng resources Galns and Balance at 1088es 31 March 2024 EM Edwards Fund 6,941 129 (5,957) (113) 5.941 129 (5,957) (113) Movement In funds Rosourc08 Transfors expended Balance at l AprS12022 Incomlng resourc85 Galn8 and losses Balance at 1 Aprll 2023 EM Edwards Fund 8,186 173 (184) (234} 5,941 6,186 173 (184) (234) 5,941 EM Edwards Fund The permanent endowment fund represented funds Iransferred to Ihe Charity for Ihe benefit of the resldenls of Corbridge. The Charlty was able to use Ihe interest on the capital of Ihe Fund. The Trustees considered that the Charily could achleve the purposes of Ihe Fund more effectively by spending the Fund itself rather Ihan just spendlng the income. In September 2023 il was resolved Ihat in exercise of the powers conlained In section 281 Charities Act 2011 as amended by Charilies Act 2022 Ihat the Fund should be spent on meding part of the Gosls of improving the kitchen and dining loom facilities at Charlolle Straker House and the funds was transferred to the Refurbishm8nt fund within Restricted Funds. -34-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Deslgnated unrestrlcted funds The income funds of the charily includ8 the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes-. Current financlal year Movement In funds Re80urcos Transfer8 exp9nded Balancè at 1 Aprll 2023 Incomlng IoUr¢5 Galns and Balanc8 at losses 31 MarGh 2024 Community Respile Bed CapllalAsset Fund Resldeiits fund Equipment fund Staff welfare fund Shortfall 137,000 565,000 9,708 137.000 569.882 3,294 934 9,031 3,131 1,373 (4,149) (9,545) (439) (130) (20,000) 130 20,000 13,535 731,838 (34,263) 711,110 Prlor flnanclal year Movement In funds Rosources Transfers expended Balance al 1 Aprll 2022 Incomlng resource8 Galns and 108SeS Balanc8 al 1 Apill 2023 Communlty Resplle Bed CapitalAsset Fund R8sldenls fund Equipment fund staff welfare fund 50,577 20,437 8.162 12,628 2,087 1,811 1,942 (58,739) {24,034) (2,974) (438) (1,942) 9,031 3,131 1,373 4,018 71,014 26,630 {88,127) 4,018 13,535 -35-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Deslgnated unrestrlcted funds (Contlnued Communlty Resplte Bed The charity received two legacies during the year tota51ing £137.000. The trustees determined that these should be allocated to a Designated Fund to cover the cosls of providing a communlty resplte bed during 2024125 and beyond. Capltal Asset Fund The Charity received a very significant legacy of £565,000 during the year. The Trustees determined that this legacy should be allocated to the Designated CapilalAsset Fund. Communlty Resplte Bed In a prior year the trustees deslgnated £50,000 of general unrestricted funds to the Communlty Resplte Bed, monies which wtll be used to develop and support this Service. The balanc8 brought forward In this fund was £50,577 and further amounts have be8n added and expended in Ihe year resulting in a designated balance carrled forward of £nll. Resldent's Equlpment Fund A Deslgnaled Fund for the replacement of exlsling equipment or purchase of new equipment is financed by an amount designal8d In the budget or by specified fundraising events, gr8nls, or unspeclfied donations. Staff Wolfare Fund A Designated Fund for donatlon to staff by resldents and Ihelr famille5. It Is fully used each Chrlstmas lo buy gift cards for staff. Shor(fall The charity recelved two unrestflcted granls during the year totalllng £20,000 durlng th8 year. The Trustees determined thal these grants should be allocated lo a Designated Fund to help fund Ihe full cost of nursing and resldential care for Ihose resldents who may be unable to meet the cost of SUGh accommodalion from th8lr own means. 25 Reslrlcted funds Current flnanclal year Movement In funds Rosources Tran$l*rs expended Balance at 1 Aprll 2023 Incomlng re80urces Galns and Balancg at 108se8 31 March 2024 Community Foundation staff Counselling Fund Workforcé Refurblshment fund Nursing training The WilliaFn Webster Charilable Trusl Pergola Parkinsons Society Shortfall Activiles for day care 2.778 (557) (2,845> (2,809) {2,647) 2,221 2.845 2.000 2.647 20,894 5,956 26,041 2,757 {636) 2,121 1,200 702 1.200 1.021 21.000 6,164 {319) (21,000) (6,164) 26.429 36.877 (36.977) 5.956 32,285 -36-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 25 Restrlcted funds {ContlnuedJ Prlor flnanclal year Movement In funds Resources Transfer8 expended Balanco at 1 Aprll 2022 Incornlng retsources Galn8 and IossOS Balance at 1 Aprll 2023 Community Respite Bed Community Foundation Staff Counselling Fund NCC Infecllon Control Service holsls Roland Cookson Fund @Communily Foundation Refurbishment fund Queens Platinum Jubilee Fund Nursing uplift NursSng tralning Th8 Willlam Webs18r Charllable TTUSt 250 (250) 3,822 (1,044) (42,054) (2,500) 2,778 42,054 2,500 77,933 (77,933) {1,739) 22,633 20,894 400 5,833 2,771 (400) (5,833) (2.771) 3,000 {243) 2,757 29,205 131,991 (134,767) 26,429 Communlty Foundatlon Slaff Counselllng Fund An amount of £4,800 was granted to the charity by the Communlly F¢)undatlon for the sole purpose of staff counselling sessions for members of staff who have struggled wotking Ihroughoul the Covid-19 pandemlc. Rofurblshment fund This fund is restricted and was set up in the year with funds received from the Sir James Knoll Trust and Northumberland County Council speclfically for the refurbishment of rooms and facilities Wlthin the home. The Wllllam Webster Charltable Trust Grants from Wlliam Webster lo go towards the replacement of our bed railslrail bumperslexlenders, together wilh cost of replacing a steam generated iron. The full amounl of the grant was not spenl at the one time and the balance was carried forward to complete the replacement of the equipment. Pergola Thls fund was a restricted grant towards the costs of installing a pergola in the resklenls, garden area. Parklnsons Soclety Thls was a restricted granl lo help with specific cosls for residents with Parkinsons Dlseas8. Shortfall The charity received three restricted grants during the year to help fund the full cosl of nurslng and resldentlal care for those residents who may be unable to meet the cost of such accommodation from Ihelr own means. -37-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 26 General unrestrlcted funds The unrestricted funds of the charity comprise Ihe unexpended balances of donations and grants which are not subject lo specific condilions by dorK)rs and grantors as to how they may be used. These include designated funds which have been set aside oul of unr8Stricled funds by the Iruslees for specific purposes, Current flnanclal year At 1 Aprll 2023 Incomlng resources Resources expended Tiansfers Galns and At 31 March losse5 2024 General funds 1,031,894 2,149,377 (2,069,783) 23,345 1,134,633 Prlor f Inanclal year At 1 Aprll 2022 Incomlng Resources resources expended Transfers Galns and At 31 March losse5 2023 General fvnds 1,064,834 1,860.730 (1.870.679) (3,834) (19,357) 1,031,694 27 Analysls of net assets between funds Curront flnanclal year Unrestrlcted Deslgnated Restrlcted Endowment funds funds funds funds 2024 2024 2024 2024 Total 2024 Fund balances at 31 March 2024 are represenled by-. Tangible assets Investments Current asselsl{liabS1ities) 330,482 239,299 564,852 5,516 24,589 360,587 239,299 1,278,142 705,594 7,696 1,134,633 711.110 32,285 1,878,028 Prlor financlal year Unrestrlcted Deslgnated Restrlcted Endowment funds funds funds funds 2023 2023 2023 2023 Total 2023 Fund balances at 31 March 2023 are represented by.. Tanglble assets Investments Current assetsl<liabllltie5) 368.527 212,952 450,215 5,833 21.017 395,377 218,893 463,329 5,941 7,702 5,412 1,031,694 13,535 26,429 5,941 1,077,599 -38-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 28 Operatlna lease Gommltments Lessee Al the reporting end date the charlly had outstanding commitmenls for future minimum leaso payments under non-cancellable operating leases. which fall due as follows.. 2024 2023 Wthin one year Between two and five years 6,692 6,956 6,404 6,380 13,648 12,784 29 Other Flnanclal Commltments Under a 60 year management agreement between the Charloll8 Slraker Project and Home Group Llmlled dated 1990, the charity, as successor lo the Trust, is commilted to make payments lo Home Group Limited in respecl of management charges, major repairs provision and malntenance. During the year ended March 2011 the charity Paid Home Group Limited £110,400 In relatlon to flnance charges in advance of the next 11 years. Each year a proporlion of the advance payment accounting lo £10,036 Is allocated lo the financial activities on a straight Ilne basls. At th8 end of 31 March 2023 the provision for advanced finan charges has been fully released to the slatement of financlal actlvllies, 2024 2023 Service charges Property charges 22,676 95,444 20,440 87,604 30 Related party transactlons There were no disclosable related party transactions during the year (2023: none). -39-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 31 Cash generated from operatlons 2024 2023 Surplusl{deficit) for Ihe year 800,429 {93,640) Adjustments for: Investment income recogn5sed in statement of financial activilies Loss on disposal of investments Fair value gains and losses on investments Depreciation and impairment of langible fixed assets {11,621) 142 (23,373) 45,832 (7,905) 778 18,813 48,083 Movements In worklng capital.. Decreasel(increase) in debtors (Decrease)Ilncreas8 in credilors 22,839 (35,1351 (32,273) 37,093 Cash generated froml(absorbed by) operatlons 799,113 (29,051) 32 Analy8Ss of Changes In n8t funds The charity had no malerlal debt during the year. -40-