Charity registration number 1021086 (England and Wales) Company registration number 02756650 THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustees Ms B Groves (Chair) Mr GM Black (Vice Chair) Ms EJ Haslings (Company Secretary) Mrs J Iley (freasurer) Dr W Cunningham Ms L Woodcock Ms MA Gordon Mr H McKendrick Mr D Chesser Mr B Dowdeswell (Appointed 10 October 2024) {Appointed 17 March 2025) {Appointed 22 April 2025) Charity number 1021086 Company number 02756650 Registered offlce Charlotte Slraker House Cookson Close Corbridge Norlhumbertand NE45 5HB Audltor Sumer Auditco Limited Unit 2 Gosforth Parf( Avenue Newcastle upon Tyne NE12 8EG Bankers CAF Bank Llmiled 25 Kings Hill Avenue West Malling Kent ME19 4JQ Lloyds Bank PIC 1 Legg Slreet Chelmsford Essex CM11JS Sollcltor8 Sinlons LLP The Cube Barrack Road Newcastle upon Tyne NE46DB Investment advlsors Brewin Dolphin Time Central Gallowgate Newcastle Upon Tyne NE14SR
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) CONTENTS Page Trustees, report Independent audilovs report 12-14 Statement of financial activities 15-18 Balance sheet 17 Statement of cash flows 18 Notes to Ihe financial statements 19-36
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The financial slatemenls have been prepared in accordance wilh the accounting policies set oul in note 1 to the financial statements and comply with the GharilVs governing document, the Companies Acl 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounling and Reporting by Charities.. Slatement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" OBJECTIVES AND STRATEGY Objectives The objectives of The Charlotte Slraker Project are 'lhe relief and rehabililalion of aged or infirm persons resident in the local aulhorily dislrict of Tynedale or such other areas of the Counly of Northumberland as the charity shall from time lo time determine (the 'area of benefit,) as well as the relief and rehabilitation of aged or ¥ifirm persons resident elsewhere in the United Kingdom who have close relations resident in Tynedale and in particular, bul wilhout limiting the foregoing, by providing or assisling in the provision of sheltered accommodation, and of nursing and other facililies to alleviate the needs of suth penYJns' And "the advancement of the education of the public with respect to health. housing and welfare problems amongst persons in the area of benefit who are aged or infirm." Revlew of actlvltl88 Our principal areas of charitable activity continue lo relate lo the provision of residenlial and nursing care lo the residents of our registered care home, Charlotle Straker House, along with supported accommodation in the form of bungalows. The bungalows which are available to those aged 65 and over. provide independent living and are in the grounds of our home. Charlolle Slraker House provides care & a¢)mMOdatIon for up 10 32 elderly residents in our well-equipped rooms. whilst we have eight bungalows. The average age of our residents is 87 years old. Care within our home is provided under Ihe brand 'Your Care, Your Community, Our Home, describing our commitment towards pulling our resldents needs at Ihe centre of what we do. During the year we have (x)ntinued to promote our servlces to the local population and increase community engagement via various channels with these including content marketing, our website and online presence. social media, emailed and pasted newslellers, adverts and articles in print and fundraising activities. We also completed a review of our charily Branding, Values and Mission Statement with these being used to updale and enhance our marketing strategy. Our 2024125 objectives, which a aligned with our mission, values, and regulatory requirements, have continued to focus on enhancing ihe well-being of our residenls, supporting our staff. and ensuring the future sustainability of our home. Our aim remains to ensure that we provide a safe and wmfortable environment, maintainlng high standards of accommodalion, with a focus on security and safely for all residents. using assistive technology where appropriate. Key to our objectives is the need to ensure that they remain resident centred with these indudlng seeking to enhance their qualily of life, promoting independence and choice and providing personalised care. Our work here is overseen by our Quality Committee and supported by our'Resident of the Day, initiative. Recognlsing the value that our staff bring to what we provide we also have an overarching objeclive on staff development and support. Here our aim is to enhanc£ staff skills and ¢ompetencles. ensure adequate staffing levels and promote a positive environment to work in. We recognise the need to strive for continuous improvement. Our Board strategy day in May 2024 foajssed on Board development, the strengthening of our govemance arrangements and ensuring our future sustainability.
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 During the year we also reviewed the structure of our Senior Management Team (SMT) and agreed lo implement a more robust model. This now includes a Chief Execulive post. with Ihis role having taken on some elements of responsibilily from the Chair. a Registered Home Manager and a Deputy Clinical Manager. The new structure was implemented dLFring the year and has been well reseNed. wilh many positive outcomes. The year has also seen work completed on reviewing the admission journey for all new residents. As a result, our procedures and practices have been aligned with Compelilion and Markets Authority (CMA) guidance. and the process is fully transparent for residents and their families. A documented roadmap has been produced which is used by the SMT to support the admission process. As a result. the prOsS is much dearer and streamlined, benefiting all. The difficulties of recruiting, and retaining, staff within the social care sector are well documented and work lo improve for our home this has remained a focus for us Ihroughoul the year. Allhough Ihe use of agency staff was high al the start of the year, this had reduced significantly by the end as a result of our work. Agency usage over the last quarter of the year had fallen by over 700A from Ihat seen during Ihe first quarter. As well as the obvious financial benefits that this brings with the more effe¢live use of cash resources, reducing our reliance on agency work has improved morale for our permanent staff as well as the consistency of care for our residents. Our activities and engagement have gone from slrenglh to strength over the last year with additional support from a fixed term role of aclivilies coordinator. New ideas and an increased variely of activities have been provided. Alongside our own staff team, a much-valued aspect of our aclivily offering lo residents, is the support provided by our volunteer team. Residents not only welcome volunteer interaction bul look fOard lo the engagement and companionship gained from our volunteers. Ensuring our staff and residents families are kept updated has continued lo be of key importance throughout the year. Regular Internal and exleTnal communications have helped keep all stakeholders updated on our performance and activities, and the wellbeing of residents and staff. The Chair, Trustees and our SMT have continued with the personal contact with staff, residents and relatives. Face to face engagement sessions have been held, which have resulted in changes lo operational work, recruitment strategies and our workforce mod81. This model of engagement has worked well and continues to be received posilively. Publlc beneflt The Board of Trustees has considered the guidance on public benefil when consldering the objectives and activities of the charity. As a registered charity we seek to benefit the public through the pursuil of our slated objectives and strategic priorities. The charily's principal source of income remains the fees and rents that il tharges for ils nursing and residential care and housing accommodation. These are sel al a level to ensure the continued financial viability of the organisation. and which is consistent with the charily's aim of providing high quality seNices. Tho charlty welcomes resldents from all backgrounds. In particular, we belleve that it is important thal access to accommodation is not restricted to those that can afford to pay. All Ihe charity's housing rents are set in accordance with guidance from the housing regulator on social and affordable rents. On the 1 st May 2024 the charity was pleased to be able to reopen its (x)mmunily respite bed providing resldenlial and nursing care for those who live in Northumberland. Based in a welkappointed room within Charlolle Straker House this service is available for Ihose who need exlra support for a shorl period of lime. The respite bed is provided free of charge. receives no local authority support and is funded entirely through donations and grant funding. Since this setvice was reopened in May 2024 the bed has been fully occupied and has supported 26 residents, at a cost to the charily of £56.462. Each year the charity aims to provide a financial contribution to a number of residents who have a shortfall in their fees due to a lack of personal means. Monies to cover these shortfalls have to be raised by fundraising activities. During Ihe year 160/0 of our beds. excluding the communily respite bed. were occupied by residents who received support from the charity to meet the shortfall in their fees with Ihe total eslimaled cost of this support £72,193.
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Volunteers Volunteers conlinue to play a crucial role in enhancing the well-belng and quality of life for our residents. Their contribulions go beyond the essential services provided by staff, bringing companionship, joy. and a sense of community. Volunteers engage in various activities. spending time with residents and befriending Individuals, organising and leading the shop Irolley, leading arts and crafts sessions. accompanying residents on outings, holding religious services or even offering specialised skills like massage therapies. By dedicating their time and enthusiasm, volunleers create an environment that promotes social inleraGlion. mental slimulalion, and emolional support, ultimately making a significant positive impact on the overall happiness and contentment of residents at Charlotle Straker House. A number of our volunteers also supparl our fundraising commillee. helping to organise, plan and njn our fundraising events. such as our Summer Fete. Craft Fairs, Family Fun Day and many olher events. We currently have a number of volunteers who regularly commit their time and support lo the charity. We really value and appreciate their commilmenl and recognise this yearly. Our aim is to rectuil more people as volunteers as we recognise that this will further enhance our residents experience with us, and work is currently underway through the Board to do so. REPORT ON ACHIEVEMENTS, PERFORMANCE AND STRATEGY DEVELOPMENT Achlevements and perfomiance In order to monitor the charity's performance against agreed objectives. Ihe Trustees have established a number of key performance indicators which are reviewed regularly. These cover both operational and financlal performance and are measured monthly, quarterly, biannually or yearly dependant on when the data Is availabl8. We Include information on our performance and achievements in our quarterly newsletters to ensure transp8n to the public, and this information can also be found on our website if a hard copy is not available. Central to everything the charity does are our values. These describe how the charity worf(s together and behaves wilh residents. staff, volunteers, Trustees and other stakeholders. We reviewed our values during the year. Our new values been arranged under the memorable acronym FAMILY. To us FAMILY means that whether you're a rèsident, staff member, volunteer, relative or visitor. we believe you are part of our Charlolle Slraker family, and this family is at the heart of everything we do. We care for each olher. offering support, compassion and warmlh. Like a family, we try lo make sure that everyone feels included in a way Ihal they feel aSsured and cMfortable. To us FAMILY means.. Focus on You Achieving Excellen Make 'every day beller, Integrity Linking to the Wider Community . Your Home. Your Choi We continue to focus on enhancing our residenl's lives and ensuring their welkbeing. The last year has seen us continue to celebrate many birthdays at Charlotte Slraker. wilh Ihese including that of our oldest resident who is now 102. He enjoys every day he lives in our home. sharing many stories from his past as part of an Ammunitions Inspection team, and many wariime experiences, induding a narrow escape from German Junkers planes during an ammunition run. After his military SeICe. he described how he returned to Whitley Bay and worked in ACAS as a civil servant. He and his wife raised four children and even after his wife sadly passed away, he remained independent in his Whitley Bay home for 13 years before joining us here at Charlotte Straker. His cret to longevily? "Wine gums" _ what a treat when Maynards sent him a celebration box to keep him goingl We continue to organise oulings for our residents to promote their independence. During the past yEar these have included visils lo the theatre to watch musicals, to national Music venues to watch a symphonic orchestra. beach outings, and visits to a local garden ntre to name only a few.
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Each year we hold a fete within Ihe grounds of our home not just to raise funds for Charlolte Slraker and other local charilies bul also lo raise our profile in the community and share wilh Ihe public what our welcoming home is all about. This year was exceptional as we were lucky enough to have Brenda Blelhyn our own local 'Vera' open our Fete wilh her police whistle. This was a great event and certainly increased the visitors to Corbridge in June 2024. We recognlse the important role that our staff team play in making a positive differen to the lives of our residents. In order to celebrate their achievemenls, we have inlroduced a Staff Awards and Recognilion scheme. Staff who are selected always receive a personal gifl from the charity as recognition of our appreciation for the work Ihey do wilh us. As a result of feedback we received from staff during the year we altered and improved the induction process we follow for of newly appointed staff. Since ils implementation this has been r&evaluated and has received excellent feedback. We continue to ensure our home is as safe as possible for slaff and $dents. During the year our landlords, Home Group, upgraded fire safely syslems lo all roof spaces within the care home. We also upgraded the glass panelling to the nurses, station on the ground floor of the home. The laller work has provided a beller environment for our nursing and care slaff to update records. Outside the care home Home Group also renewed all the bungalow roofs. resulting in the properties looking brand new. As this work was completed whilst the bungalows were occupied Home Group worked clos85y wilh us to keep the dlsruplion to our tenants to a minimum. Other work undertaken outside the home during ihe year has also seen the completion of a project lo improve our garden area. This included the implementation of a robot mower. the recruitment of additional volunteers to plant and weed and a new awning installed over our outside decking area to shade our residents in Ihe sun. We also employed a new gardener, and all these works have substantially improved our external environment Plans for Future Perlods Following a review of the Charity's governance structure the roles of the prewous Strategic Oevebpmenl and Finance Committees have been ¢ombined into a single Slralegic and Finance Committee, which met on a number of occasions during the year. Both Chaflotle Slraker House and the bungalows are owned by Home Group (as landlord) and managed by the charily. as their managing agent, under the terms of two separate Managemenl Agreements whlch set out the respective responsibilities of both Home Group and the charity. Home Group have previously advised that they do not want lo make further subslanlial capital investment in the care home given ils age and the fact that the site has been intensively developed lo dale. Work within the Strategic and Finance Committee has included looking at ways of securing the chaTity's longer term financial suslainabilily whilst acknowledging the slance that has been adopted by Home Group. and Ihis work continues. lfvhilst the above work Is ongoing, we have continued with our previously agreed approach to build long term relationships with Trusts and individuals alike wherever possible. so as to mainlain the financial support needed to meet our charilable objectives. We decided lo Gonlinue our approach of seeking larger donations from Trusts over a three-year period wherever possible. We have also conlinued lo seek donalions against specific needs al a smaller contribution level.
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 FINANCIAL REVIEW Financial position The charity's principal source of income continues to be the fees and rents that it receives in respect of the 32 residential care home rooms plus eight bungalows which together make up the Charlolle Straker Project. Occupancy for the care home for the year was 96.4% (2024: 96.20A). All the bungalows were fully occupied throughout the year. Additional income is also derived from fundraising activities including grants from various other charities and charitable trusts. Total incoming funds from our care home rooms and bungalows were £2.121,014 {2024'. £2,015,327). A further £144,496 (2024: £872,522) of funds were also received in respect of grants, donations and legacies. Total funds reiVed from legacies were £3.589 (2024: £703.811) with these the balance of a single legacy from a prior year {2024- 3 legades received). Overall, the year has seen a nel inflow of funds of £11.541 (2024.. net inflow £777.198) exduding reslricted funds, transfers beeen funds and movement on investments. with tha change from the perf0mlan as reported In the prior year reflecting the reduction in legacies received. There was also an unrealised gain of £7,529 {2024'. £23.231) shown in the value of our Inveslmanls. As at the end of the year the charity had unrestrided reseNes. exduding designated reseNes, of£1,180,496 (2024: £1,134,633). Golng concern Al the end of the financial year and after taking appropriate action, the Iruslees consider that the charity has adequate resources to enable it to continue in operational existence for the foreseeable fulure. For Ihis reason, the charity continues to adopt the going concern basis in preparing the financial stalements. Reserves poll¢y The Board of Trustees have resolved to hold money and readily realisable inveslments equivalent to three months operating costs in the event that they have to wind down the charity and cease operations. Trustees regularly review the level of reserves held against those required in accordance with this Policy, wilh the latter figure being £601,024. As at the end of March 2025 actual free resenies (defined as those unreslricled reseeS not designated for specific purposes or lied up in fixed assets) stood at £818,789 (2024.. £804,151) which is in accordance with this Policy. Reserves are represented by both fixed and current assets. and include monles placed on deposit atjj held in investments.
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Fundralsing This year saw significant progress in our fundraising and cA)mmunity engagement efforts, enabling us to enhan the lives of our residents and secure the future of our care home. DuTing the year our activities focused on four key objectives.. Supporting Resident Care Costs- We are committed to ensuring our residents can access the care they need. This year, we successfully supported 21 local aulhorily-funded residents by bridging the gap belween local aulhorily payments and Ihe actual cost of care. addressing critical "lop-up fee shorlfalls.. The cost of this support was £72,193. Reopening our Community Respite Care Bed.. This vital service was reopened in May 2024, due to a very generous legacy. The respite care bed provides a crucial service to the local community, offering free of charge short-lerm care to Ihose over 65 years of age. The setvice. which was booked up until September 2025 al the time of writing this report. supported a total of 26 residents during the year at a cost of £56.462.There is a lack of affordable respite care in this area. and we are therefore proud to be alje to offer such a vital service to those in need. Enriching Resident Experiences.. We believe in providing a vibrant and stimulating environment for our residents. Donations and granls have been instrumental in funding a diverse calendar of outings and activilies, including transportation costs, ensuring residents can fully participate and enjoy these experiences. Enhanring the Living Environment: We embarked on an ambllious refurbishment project to modernize our dining room and resident rooms. Funds raised are being used to create a slylish, comfortable, slimulaling, and functional environment. directly improving the daily lives of our residents. During the year we relaunched our Development Fund which we aim to ulilize to support future fundraislng for planned improvements and enhancements such as these. We secured several impaclful grants during the year totalling £108,911. These grants have been cwcial in enriching residenl experiences and conlribuling lo the overall suslainabilily of our care home. These include grants received from the Wlliam Leech Charity, W A Handley Charity Trust, The Barbour Foundalion. the Sir James Knotl Trust, Northumbria University, the Hadrian Trust and the Hedley Denlon Charitable Trust. We are extremely grateful lo these granl-making bodies for their invaluable support. We are immensely grateful for the continued support of Ihe Roland Cookson Fund, which provided a granl of £70.268 in 202412025. This recurring annual granl provides cwcial financial stabilily, allowing us to confidently plan for the future and maintain our cMMitMent to exceptional care. We had a successful year In community and indiwdual fundraising, hosling over len engaglng events and raising £18,663. These funds support the services that we provide including projects to be funded via our Oevelopment Fund. Events included an extremely well attended summer fete, ceilidh, and a fashion show, bringing our community together to celebrate our mission and raise awareness. We thank all participanls, volunlears, and donors for their invaluable conlribulions. Investment pollcy and objectives A review of the charily's investment policy was Caled out in February 2019 when it was agreed to appoint Brewin Dolphin, a professional fund management company as investment managers of £200,000 of reserves. This policy was reviewed during the year when il was agreed to place a further £500,000 of monies with Brewin Ddphin. This Investment reflects the amount that the Trustees feel is prudenl lo pla longer temi with the objective being lo achieve above inflation capital growih of inflation plus 2%.
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Risk management The Trustees have a duty to identify and review the risks lo which the charily is exposed and to ensure appropriate controls and ffliligaling actions are in place lo provide reasonable assurances against the consequences of fraud and error. The Board of Truslees continues to review key risks. with oversight of an overall organisalional risk register, and has an active and systematic risk management strategy. The Strategic & Finance, and Qualily committees each hold a risk regisler which is updated and reviewed quarterfy. Any risks which are raled 'high'. with a risk score of over 15, are placed onto the organisalional risk register for discussion at Board. Currently identified key organisational business risks are- Rlsk Identlfled Mltlgatlon Possibility of running out of cash - increased costs andlor reduction in income. 1.Continue to produce monlhly management accounts - moniloring and allowing for early inletvention 2. Resep4as Policy in placa- monitoied monthly 3. Operational & Financial dashboard in place 4. Estimated closure costs kept under review and formally considered at least annually. 5. Annual slaffing budget sot which incorporates any agency & overtime costs 6. Admission roadmap active which includes an assessment of financial capacily Charitable stalus - CSP is no longer able to meet ils charitable objectives for financial 01 other reasons 1.Agree number of protected charitable b8ds to assist funding gap. 2. Oeliver charity servicos e.g CRB. subsidised day caro 3. Continue to negotiate fe& incr8asGs via NCC 4. Work with local partnersl MPSI Parish Councillois lo inform policy and raise awareness of Objectives 5. Increase communications Poor Health & Safety practices resulting in a major event All policios updated, monitor perfotm8nce and cairy out iegular reviews o¥ documenls. All olicios held wilh QCS
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE GOVERNANCE AND MANAGEMENT Governlng document The Charlolle Straker Projecl is controlled by ils governing document. a deed of Injst, and constitutes a limited company, limited by guarantee. as defined by the Companies Act 2008. In the event of The Charlolle Slraker Projed being wound up. the individual liabilily of every member of the charity shall nol exceed £1. Charlty constitutlon The Charlolle Slraker Project Is 8 charitable cMpanY limrted by guarantee, registered al Companles House, incorporated on 16 Oclober 1992 and regislered as a charity on 17 May 1993. The objects and powers of the charity are as set out in the Arliclas of Asso¢iation. The address of the principal office of the charity. and the address of Its regislered offi. is Charlotte Straker House, Cookson Close, Corbridge, Northumberland NE45 5HB. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the dale of signature of the financial statements were: Ms B Groves (Chair) Mr GM Black (Vice Chair) Ms EJ Hastings (Company Secretary) Mrs J Iley (Treasurer) Dr W Cunningham Ms L Woodcock Ms MA Gordon Mr H McKendrick Mr D Chesser Mr B Dowdeswell Ms MA Wagstaff Mr NE Brailhwaite Ms MEAJones Mr D Ainslie Ms JE Lighlley (Appointed 10 October 2024) (Appointed 17 March 2025) {Appoinled 22 April 2025) (Resigned 1 April 2024) (Resigned 1 April 2024) (Resigned 10 October 2024) (Resigned 10 October 2024) (Resigned 17 March 2025)
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Trustee Induction & Support We regularly review and update our induclion and training for new Trustees. the last such update was April 2024. Any prospective appointment of a Trustee is discussed al a Nominations Committee and then presented to the Execulive Committee before an approach is made. If the proposal is agreed the Chair meels wilh the potential new Trustee, to discuss the work of the charity and the role of a Trustee. An 'lnlroduclory Pack, of information is provided and helshe is invited to attend the following Executive Commillee meeling as an obsetver and introduce Ihemselves lo the Board ofTrustees. Included in the Inlroduclory Pack the new Trustee is directed to the relative Charity Commission webslte and seclion on the responsibilities of a Twstee. Followlng the Executive Meeting the Trustees will discuss the appointment once more and if agreed as suitable and, subject to all necessary checks being completed. the person will be inviled to become a Trustee. New Trustees attend induction training sessions run by the Chair and others which cover the obligalions of Trustees, Safeguarding training. the main documents which set out the operational framework for the charity. regulatory reports, the current rinancial position including the latest audited accounts, management accounts and future plans and objectives. Each new Trustee Is appointed a mentor to provide specAfic support for Ihelr area of expertise. Annual appraisals and 1:1s take place belween Ihe Chalr and Trustees. Following the completion of these during 2024125 Truslees have agreed lo hold a Board development session during 2025126 to future proof our roles, Thls will include further development of Trust88 job descriplions and our induction process. Training courses are made available to our Board and infomiation from Charity Commission and our own Solicitors Is circulated as received to provide Trustees wilh upto-date infomialion regarding charity law matters. Organlsallonal structure The directors of The Charfotle Straker Project are also Trustees of the charity. They are known as the Executive Commillee. Each year at the AGM a number of the longest serving members retire, by rolalion, and belng eligible and assuming willingness, may offer themselves for re-election. A term of office is recommended as nin8 years however if Trustee5 are willing to continue and have valuable skills Ihey are eligible to be re-elected. The Executive Committee continues lo meet every quarler. The Executive Commillee meetings are also allended by the Chief Executive Officer and Registered Home Manager. to whom day to day responsibility for the delivery of care and the running of Ihe ¢are home is delegaled. This responsibility includes managing the appropriate budgetary areas sel out by the Treasurer and Chair. this is documented in our finandal regulations policy. Neilher of these posts have voting rights. On the Board we have a: Chair Wice Chair Treasurer Company Secrelary Trustees reviewed the Commillee Structure al the Board Development session held in My 2024 and, lo reduce duplication, agreed from October 2024 10 implement the following sttuclure to support the charity's business. There are three main committees: _ Strategic Development & Finance Committee (S&FC) - Chair Gavin 81ack Qualily Committee (QC)- Chair Maureen Gordon Nominations & Governan Committee (NC & G) - Chair Berenice Groves A sub meeling of Slralegic & Finance meels regularly to discuss fundraising opportunities and plan events. Other meetings, including for specific 'task and finish groups and markelinglcommunications. are held as required.
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The current Board & Committee Structure is as sel out below.. .1 Taking into consideration the nature of the work Ihal Ihé charity undertakes, the Executive Committee seek to ensure that the needs of the sector of the community that il senies are appropriately reflecled through the diversily of the Trustee body and Ihal collectively the Trustees have the skills required enabling the organisalion to operate effectively. This is an ongoing process, as is an endeavour to anlicipale succession planning for the Truslee cohort. The process for the appointment. and subsequent Inductlon, of trustees has been updated. The appointment process is managed by the Executive Commillee. Where a va¢ancy occurs. Ihis process involves reviewing the Current skillset on the Committee and looking to augment where appropriate. Current Trustees come from very diverse backgrounds and therefore have several skills to offer the charity. These include medical, clinical, legal, financial, property and managerial skills as well as specific skills in safeguarding and care provision and therefore there is an excellenl rapr8senlalion on the Executive Commillee. During the year five Truslees resigned whilst two new Trustees were appointed. A further appointment was made in April 2025, after the financial year end. The charity currently has a total of ten Trustees details of whom can be found on ourwebsile. 10-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Statement of trustees, responsibilities The truslees. who are also the directors of The Charlotle Straker Project for the purpose of company law. are responsible for preparing the Truslees, Report and the financial slalemenls in accordan wilh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees lo prepare financial statements for ead) financial year which give a Irue and fair view of Ihe state of affairs of the Gharily and of the incoming resources and application of reSoUrs, including the ncome and expendilure, of the charitable company for that year. In preparing these financial statements, the trustees are required to- select suitable accounting policies and then apply them consistently: - observe Ihe methods and prlndples in the Charities SORP; make judgements and estimates that are reasonable and prudenl: slate whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained In the finan¢lal statements: and prepare the financial slalemenls on the going concern basis unless it is inappropriate to presume that the charily will continue in operation. The trustees are responslble for keeping adequate accounting records that disclose with reasonable accuracy al any lime Ihe financial position of the charily and enable them to ensure that the financial slalements comply wilh Ihe Companies Acl 2006. They are also responsible for safeguarding the assets of Ihe charity and hence for taking reasonable steps for the prevention and detection of fraud and other Ifregularilies. Audltor In accordance wlth Ihe company's articles, a resolution proposing that Sumer Auditco Limited be reappointed as auditor ofthe company will be put at a General Meeting. Dlsclosuro of Informatlon to audltor Each of the trustees has confirmed that there is no information of which they are aware whl¢h Is relevant to the audit, bul of which the auditor is unaware. They have further confirmed that they have taken appropriale steps lo Identify such relevant information and lo establish that the auditor is aware of such information. The trustees, report was approved by the Board of Trustees. Ms B Groves (Chalr) Trustee 11 September 2025 11
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE CHARLOTTE STRAKER PROJECT Opinion We have audited the financial slalements of The Charlotte Slraker Project (the 'charity') for the year ended 31 March 2025 which comprise the slalement of financial activities. the balance sheet. the statement of cash flows and notes to Ihe financial statements. including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, induding Financial Reporting Standard 102 Th6 Financial Reporting Staiidard applicable in Ihe UK and Ropublic of Iroland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the slate of the charitable company's affairs as al 31 March 2025 and of its incoming resources and application of resources. including its income and expenditure, for the year then have been properly prepared in accordance with Uniled Kingdom Generally Accepted Accounting Practi. and have been prepared in accordance with the requlremenls of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with Inlernational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Audilorfs responsibilities for Ihe audil ol the fiiiancial statements section of our report. We are independenl of Ihe charily in accordance with Ihe ethical requirements that are relevanl to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. W8 bèlieve that the audit eviden¢e we have obtained Is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng ¢on¢ern In audiling the financial slalements. we have conduded that the trustees, use of Ihe going concem basis of accounting in the preparation of the financial statements is appropriata. Based on the work we have performed. we have not identified any material uncertainties relaling lo evenls or conditions that, individually or colleclively, may cast significant doubt on Ihe charity's ability lo continue as a going concarn for a period of at least twelve months from when Ihe financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the twslees with respect lo going concern are described in the relevant sections of this report. Other informatlon The other information comprises the information included in the annual report olher Ihan the financial slalemenls and our audilorfs report Ihereon. The Iruslees are responsible for the other information conlained wilhin the annual report. Our opinion on the financial slatements does not cover the other information and, except to the exlent otheIse explicitly stated in our report. we do not express any form of assuran conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit. or otheiSe appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise lo a material misstatement in the financial slatements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that facl. We have nothing to report in this regard. Opinions on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of our audil.. the information given in the trustees. report for the financial year for which the financial statements are prepared, which includes the directors, report prepared for the purposes of company law, is consistenl with the rinancial slatemenls. and the directors, report included within the trustees, report has been prepared in accordan with applicable legal requirements. 12-
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 understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the trustees, report. We have nothing to report in respect of Ihe following matters in relation to which the Companies Act 2006 requlres us to report to you if, in our opinion- adeouale accounting records have not been kept, or returns adequate for our audit have not been received from branches nol visiled by us., or the financial statements are not in agreement wlh the accounting records and relums., 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 tmstees were not entitled to prepare Ihe financial slatements in accordance with the small companies regime and take advanlage of the small companies. exemptions in preparing the trustees, report and from the r8quirement to prepare a strategic report. Responsiblllties of trustees As explained more fully in the slalement of trustees, responsibilities, the trustees, who are also the directors of the charity for the purpose of company law. are responsible for the preparation of the financial slaternents and for belng satisfied Ihal they give a true and fair view, and for such Internal control as the Irusleès determin6 Is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Iruslees are responsible for assessing the charily's abilily to continue as a going conrn, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend lo liquidate the charitable company or lo cease operatlons. or have no realistic alternallve but lo do so. Aud5t03 re8pon8lbllltle8 for the audlt of the flnanclal statement8 Our objectives are lo oblain reasonable assurance about whelher Ihe financial statements as a whole are free from material misstalemenl. whelher due to fraud or error. and lo issue an audilor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee Ihal an audit conducted in accordan with ISAS {UK) will always delect a material misstatement when it exisls. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users laken on the basis of these financial statements. The extent to which our procedures are capable of detecling irregularities. Inrjuding fraud, is detailed below. 13-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE CHARLOTTE STRAKER PROJECT Capability of the audit in detectlng irregularities, including fraud Based on our understanding of the charitable company and the seclor in which it operates. we identified that the following laws and regulations are significant to the entity: Those laws and regulalions considered to have a direct effect on the financial statements including UK financial reporting standards. Company Law and Charity Law. Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the charity and therefore may have a material effect on the financial statements include compliance wilh charitable objectives, public benefit. fundraising regulalions. safeguarding, health and safety legislation and Care Qualily Commission- Health and Social Care Ad. These matters were discussed amongst the engagement leam at the plannlng stage and the leam remained a18rt Ihroughoul the audit. Audit procedures undertaken In response to the potential risks relating to irregularities (which Include fraud and non- compliance wilh laws and regulalions) comprised of- inquiries of management and the Trustees as lo whether the enlily complies with such laws and regulations; enquiries wilh the same concerning any actual or potential liligalion or claims: inspection of relevant legal Corresponden and legal costs incurred: review of Trustee meeting minutes: testing the appropriateness of journal enlries: and the performance of analytical review to idenlify unexp&cted movements In account balances which may be indicative of fraud. No instances of materlal non-compliance were identified. However, the likelihood of deledlng Irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities. the effectiveness of the enlily's conlrols, and the nature, liming and extent of the audit procedures performed. Irregularities that result from fraud might be inherenlly more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misslalemenls may not be detected, even though the audil has been planned and performed in accordanca with ISAS (UK). A further description of our responsibilities is available on the Financial Reportlng Council's website at.. https'.11 www.frc.org.uklauditorsresponsibililies. This description forms part of our auditols report. Use of our report This report is made solely lo the charitable company's members. as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charilaue company's members those matters we are required lo slate to Ihem in an auditor's report and for no other purpose. To the fullest exteni permilled by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable Company's members as a body, for our audil work. for this report, or for the opinions we have formed. Mr Step en Slater {Senlor Statutory Auditor) for and on behalf of Sumer Auditco Llmlted statutory Auditor Unit 2 Newcastle upon Tyne NE12 8EG Date.. 14-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Currènt flnanclal year Unrestricted Unrestricted funds funds general Designated 2025 2025 Restrl¢ted funds Total Total 2025 2025 2024 Notes Income and endowment8 from: Donations and legacies Charitable aclivilies Other trading aclivilies Inveslmenls Other income 93.448 2,121.014 2.144 24.426 28.274 20.370 30.678 144,496 2.121,014 18,663 24,426 28,274 872,522 2.015,327 15,046 11,621 3,705 16.519 Totsl income and endowments 2.269.306 36.889 30,678 2,336,873 2.918,221 Expendlture on: Raising funds Charilablè aclivllies Other expenditure 313 2,235,117 1,177 3,036 57,268 3,349 2.327,746 1.177 6,038 2.134,985 35.361 14 Total expendlturé 2,236.607 60.304 35.361 2.332,272 2.141,023 Net gainsl(losses) on Investments 15 14,469 14,469 23,231 Net Incomel(8xpendltur8) 47,168 (23.415) (4.683) 19.070 800,429 Transfers between funds (1.305) {300) 1.605 Net movement In funds 11 45.863 (23.715) (3.078) 19,070 800,429 Reconciliation of funds: Fund balances at 1 April 2024 1,134.633 711,110 32,285 1,878,028 1,077.599 Fund balances at 31 March 2025 1.180.496 687,395 29,207 1,897.098 1,878.028 The slalemenl of financial activities includes all gains and losses recognised In the year. All Income and expenditure derive from continuing aclivilies. 15-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIALACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Prior financlal year Unrestricted Unrestricted funds funds general Designated 2024 2024 Restrlcted Endowment funds funds Total 2024 2024 2024 Notes Income and endowments from: Donations and legacles Charitable activities other trading aclivilles Investments Other income 109,202 2.015,327 9,651 11,492 3,705 726,464 36,856 872,522 2,015.327 15.046 11.621 3.705 5,374 21 129 Total Income and endowment8 2.149.377 731,838 36,877 129 2.918,221 Expendlture on: Raising funds Charllable aclivilles 4,554 2.065,229 1,484 32,779 6,038 2,134,985 36,977 Total expenditure 2,069,783 34,263 36,977 2,141.023 Net gainsl(losses) on invèslments 15 23.345 (114) 23,231 Not Incomel{expendlture) 102.939 697,575 {100) 15 8LK1,429 Transfers between funds 5,956 {5.956) Net movement In fund8 11 102,939 697.575 5,856 {5,941) 800,429 Reconclllatlon of funds: Fund balances al 1 April 2023 1,031.694 13.535 26,429 5,941 1,077.599 Fund balances at 31 March 2024 1,134,633 711.110 32.285 1.878,028 16-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Flxed assets Tangible assets Investments 17 18 361,707 760,351 360,587 239,299 1,122,058 599,886 Current assets Deblors Investments Cash al bank and in hand 19 20 61,875 5,900 850,433 58,591 11,128 1,347,583 918,208 1,417,302 Credltors: amounts falllng due wlthln one year 21 {143.168) (139,160) Net current assets 775.040 1,278.142 Total assets le88 current liabilities 1.897,098 1.878.028 Income funds Restricted funds Designated unrestricted funds General unreslricted funds 23 24 26 29,207 687,395 1,180,496 32,285 711,110 1,134,633 1.897.098 1.878.028 The financlal slalements were approved by the Trustees on 11 September 2025 Ms B Groves (Chalr} Trustee Mrs J Iley (Treasurer) Trustee Company registration numbgr 02756650 17-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activities Cash gen&raled from operalions 30 27.118 799,113 Investlng actlvltlès Purchase of tangible fixed assets Purchase of Investments Proceeds from disposal of inveslments Inveslmenl income received (47.339) (589,301) 87,946 24,426 (11,042) (27,964) 30,410 11,621 Net cash (used In)Igenerated from Investing actlvltles (524.268) 3,025 Net cash generated from financlng actlvltles Net {decreaselllncrease in cash and cash equlvalents {497.150) 802,138 Cash and cash equlvalents at beginning of year 1.347.583 545,445 Cash and cash equlvalents at end of year 850.433 1,347,583 18-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policles Charlty Informatlon The Chaflotte Straker Project is a private company limited by guarantee incorporated in England and Wales. The registered office is Charlotte Straker House, Cookson Close, Corbridge, Northumberland, NE45 5H8. 1.1 Accounting convention The financial statements have been prepared In accordance with the charity's governing document, the Companies Act 2006, FRS 102 'The Financial Reporting Slandard applicable in the UK and Republic of Ireland" {"FRS 102.1 and the Charilies SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in slerfing, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded lo the neafesl £. The financial slalements have been prepared under Ihe historical cosl convention. modified to include the revaluation of certain finan31 instruments al fair value. The principal accounling policies adopted are set out below. 1.2 Golng concern At the lime of approving the financial slalements. Ihe Irustees have a reasonable expectation that the charity has adequate resources to continue In operalional existence for the foreseeable future. Thus the trustees continue to adopi the going concern basis of accounting in preparing the financial statements. The Board has concluded that Ihe going concern assumplion is appropriate in preparing Ihese financial statements, 1.3 Charltable funds Unreslricled funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Designated funds a nStricted funds that have been set aside by the trustees for particular purposes. Reslricled funds are subject lo specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are assets which must be held by the charity, PTincipally inveslmenls, the income arising from which can be used in accordance with the objectives of the charily and is included as unreslricled income. Any capital gains or losses arising on inveslmenls, form part of the fund. Investment management charges and legal advi relating to the funds are charged against the fund. Further information of Ihe nature and purpose of Ihis fund is induded in the noles to the financial statements. 1.4 Income Income is recognised when the charity is legally entilled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised onc£ the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations recEived under Gift Aid or deeds of covenant is recognised at the time of the donation. Grants where entitlement is not conditional on the delivery of a specific performance by the chariiy are recognised when Ihe charily becomes unconditionally entitled to the grant. IM)ere grants are conditional to performance and specific deliverables. the granl is accounted for as the charity earns the right to consideration by ils perfonnance. 19-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles (Continued) Legacies are recognised on receipt or othetwise if the charity has been notified of an impending dislribulion, the amount is known. and Teceipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 1.5 Expendlture Expenditure is recognised once there is a legal or constiuclive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in selllement, and the amount of the obligation can be measured reliably. Expenditure accounted for on an accruals basis and ha dassified by aclivity. Direct costs altribulable lo a single activity are allocated directly lo Ihal aclivily. INhere costs which contribute lo more than one aclivily have been allocated to activities on a basis consistent with the use of resources. 1.6 Tanglble fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at Cost or valuation, nel of deprecialion and any impairment losses. Deprecialion is recognised so as to write off the cosl or valuation of assets less their residual values over their useful lives on the following bases: Leasehold Improvements Fixtures and fitlings Computers 3.330A slraighl line 200h reducing balance 33.3% reducing balance The gain or loss arising on the disposal of an asset is determined as the dIffenCe between the sale proceeds and the Carrying value of the asset, and is re¢ognised in the statement of finandal a¢tivilles. 1.7 Flxed asset Inve8tments Fixed asset investments are initially measured at transacllon price exduding Iransaclion costs. and are subsequently measured at fair value at each reporting dale. Changes in fair value are recognised in net incomel(expendilure) for the year. Transaction costs are expensed as incurred. 1.8 Impalrment of flxed assets Al each reporting end date. the charity reviews the carrying amounts of its tangible assets lo determine whether there is any indicalion that those assets have suffered an impairmenl loss. If any such indicalion exists, the recoverable amount of the assel is estimated in order to determine the extent of the impairment loss (if any). 1.9 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call wilh banks, other short-temi liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in cUrn1 liabilities. 1.10 Financlal Instruments The charity has elected to apply the proTr4llsions of Section 11 'Basic Finaniaal Instruments. and Section 12 'other Financial Instruments Issues, of FRS 102 to all of its finanaal inslruments. Financial inslruments are recijgnised in the charity's balance sheet when the charity becomes party to the conlraclual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements. when there is a legally enforceable right lo set off Ihe recognised amounts and there is an intenlion to settle on a nel basis or to realise the asset and settle the liabilily simultaneously. -20-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles {Continued) Baslc flnanclal assets Basic financial assets. which include debtors and cash and bank balances. are initially measured al transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the presenl value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Baslc flnanclal Ilabllltles Basic financial liabilities, including creditors and bank loans are initially re¢ognlsed at Iransaclion price unless the arrangement constilules a financing Iransaclion, where the debt instnjment is measured at the present value of the fulure paymenls discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using Ihe effeclive interest rale method. Trade creditors are obligations to pay for goods or services Ihat have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities if payment is due wilhin one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised Inllially al transaction price and subsequenlly measured at amoriised cost using Ihe effective interest method. Derecognltlon of flnanclal Ilabllltles Flnancial liabilities ar8 derecognised when the charily's contractual obligations expir8 or are discharged or cancé118d. 1.11 Employee beneflts The cost of any unused hollday entillem8nt is recognised in the period in which the employee's setvices are received. Termination benefits are recA)gnised immedialely as an expense when the charity is demonslrably commilled to terminate the employment of an employee or to provide termination benefits. 1.12 Retlrement benefils Payments to defined Contribution retirement benefit schemes are ¢harged as an expense as they fall due. 1.13 Lease8 Rentals payable under operating leases, induding any lease incentives received, are charged as an expense on a straight line basis over the tem of the relevant18as8. -21
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Crltlcal accountlng estimates and judgements In the application of the charity's accounting policies. the ITuslees are required to make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumpiions are based on historical experience and other factors thal are considered to be relevant. Actual results may differ from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in Ihe period in which the estimate is revised where Ihe revision affects only that period, or in the period of the revision and future periods where the revision affecls both current and fulure periods. Crltical ludgements Assessing Indlcator8 of Impalmient In assessing whether there have been any indicators of impairment of assets. the Iruslees have considered both external and internal sources of information such as market CA)nditions and experienca of recoverabilily. Key sources of esllmatlon uncertalnty Determlnlng resldual values and useful economlc Ilves of tanglble flxed assets The charily depreciates tangible fixed assels over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires eslimales and assumptions lo be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovalion. produd life cydes and maintenance programm6S, Judgement is applied by trustees when determining the residual values for tangible fixed assets. When determining the residual value trustees aim to assess Ihe amount that the company would currently obtain for the disposal of the asset, if il were already of Ihe condition expecled at the end of ils useful economic life. ere possible Ihls is done with reference to external market prices. Incomè from donatlons and legacles Currant flnanclal year Unrestrfcted Unrestrlcted Restricted funds funds funds General Deslgnated 2025 2025 Total Total 2025 2025 2024 Donations and gifts Legacies receivable Grants 23.180 6,781 3,589 10,000 2,035 31.996 3.589 108.911 35,897 703,811 132,814 70.268 28.643 93.448 20.370 30.678 144,496 872.522 -22-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from donatlons and legacies {Contlnued) Unrestricted Unrestrlcted Restrlcted funds funds funds General Deslgnated 2025 2025 Total Total 2025 2025 2024 Grants recelvable for cora acllvltles Community Foundalion The Barbour Foundation The W A Handley Charity Trust Hedley Denton The William Leech Charity Hadrian Trusl Northumbria Universily Newcastle Sir James Knotl Trust 70.268 70.268 10.000 10,000 1.000 10,000 1.000 1,643 5,000 10.000 10.000 1,000 10.000 1,000 1,643 5.000 70.268 10.000 28,643 108,911 Prlor flnanclal year Unrestrlcted Unre8trfcted Re8trlcted funds funds funds General Designated 2024 2024 Totsl 2024 2024 Donations and gifts Legacies receivable 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 Grants recelvable for core actlvltles Community Foundation The Barbour Foundation Workforce Grant The Squires Foundation The W A Handley Charily Tnjst The Joicey Trusl Hedley Denton The Wlliam Leech Charity Northumbria University Newcastle The Ray Windfarm Fund CIC Parkinson's Society The W G Edwards Charitable Foundation 77,121 77.121 10,000 2.846 10,000 10,000 1,000 2,000 10,000 2,647 5.000 1,000 10.000 2.846 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 -23-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from charitable actlvltles Unrèstrlcted funds 2025 Unrèstricted funds 2024 Nurslng and care Nursing and care 2.121,014 2,015,327 Other trading activities Current financial year Unrestrlcted Unrestricted Reslricted funds funds fund8 General Deslgnated 2025 2025 Total 2026 2025 Fundraising evenls 2,144 16.519 18,863 Prfor flnanclal year Unrestrfcted Unrestrlctad Restrlcted funds funds funds General De81gnated 2024 2024 Totsl 2024 2024 Fundralslng events 9,651 5,374 21 15,046 Income from Investments Unrèstricted funds 2025 Total Unrestricted Endowment funds funds 2024 2024 Total 2025 2024 Income from listed investments Interest receivable 7.454 16.972 7.454 16,972 5,542 5.950 5,542 6,079 129 24.426 24,426 11,492 129 11.621 -24-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 other Income Unrestricted Unrestricted funds funds 2025 2024 Other income Insurance claims 1,444 26,830 3,705 28.274 3,705 Ralslng funds Unrestrfcted Unrestricted funds funds General Deslgnated 2025 2025 Total Unrestricted Unrestrlcted funds funds General Deslgnated 2024 2024 Total 2025 2024 Other fundraising costs 313 3.036 3.349 4,554 1,484 6,038 313 3,036 3,349 4,554 1,484 6.038 Charltable acllvltle8 Resldentlal Resldentlal and nur8lng and nurslng 2025 2024 Staff costs Oepreciation and impaimient Nursing and care 1.651,037 1,487,076 45,043 45,832 624,766 596,077 2.320,846 2,128.985 Share of governan cKJsts (see note 10) 6,900 6,000 2.327,746 2,134.985 Analysls by fund General unrestricted funds Designated unrestricted funds Restricted funds 2.235,117 2,065,229 57,268 32,779 35,361 36.977 2.327,746 2,134.985 -25-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Support costs Govemanoe costs 2025 Governance costs 2024 Audil fees 6.900 6.900 6,000 6,000 6.900 6,000 6,000 Analysed between Charitable activities 6.900 6,900 6,000 6,000 Governance costs includes payments to the auditors of £6.900 (2024.. £6,000) for audit fees. 11 Net movement In funds 2025 2024 The nel movement in funds is slated after chargingl{rAediting): Fees payable for the audit of the charitls financial statements Depreciation of owned tangible fixed assets Loss on disposal of tangible fixed assets 6,900 45,043 1,177 6,000 45.832 12 Trustee8 None of the trustees (or any persons connected with them) received any remuneration or benefits from the charily during the year (2024- none). Trusteès. expenses There were no trustees. expenses paid for the year ended 31 March 2025 (2024.. none). Trustee indemnity insurance costs amounted to £7.874 (2024.. £10.146) during the year. 13 Employees The average monthly number of employees during the yearwas: 2025 Number 2024 Number Administrative Key management Nursing and care slaff 55 57 Tolal 66 65 -26-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Employeos (Contlnued) Employment costs 2025 2024 Wages and salaries Social security costs Other pension costs 1.496.829 116.550 37,658 1,362,202 91,132 33,742 1.651.037 1,487,078 There were no employees whose annual remuneralion was more than £60,000. Remuneration of key management personnel The key managemenl personnel of the charity Comprise th8 Chief Execulive Officer, Home Manager, Depuly Manager and Office Manager. The r8muneration of key management personnel was as follows: 2025 2024 Aggregate compensation 208.154 132,874 14 Other expendlture Unrestrlcted Unrestrlcted fund8 fund8 2025 2024 Net loss on disposal of langlble fixed assets 1,177 q5 Net galnsl(Ios8es) on Investments Unrestricted funds 2025 Totsl Unrestrictsd Endowment funds funds 2024 2024 Total 2025 2024 Revaluation of inveslmenls Gainl(loss) on sale of investments 14,989 (520) 14.989 (520) 23.373 (28) 23,373 (142) (114) 14.469 14.469 23.345 (114) 23,231 16 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Acl 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent Ihat these are applied to its charitable objecls. -27-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Tangible flxed assets Leasehold Flxturos and Improvèmènts fltllngs Computèrs Totsl Cost At 1 April 2024 Additions Disposals 534.692 431,699 43,715 (11,418) 40,029 1.006,420 3.624 47.339 (11,418) Al 31 March 2025 534,692 463,996 43,653 1.042,341 Depreclallon and Impalrment Al 1 April 2024 Depreciation charged in the year Eliminated in respect of disposals 287,078 16,294 328.973 24.812 (10.241) 29.781 3.937 645,832 45,043 (10,241) Al 31 March 2025 303,372 343,544 33,718 680,634 Carrylng amount Al 31 March 2025 231.320 120.452 9,935 361.707 At 31 March 2024 247.614 102,726 10,247 360,587 18 Flxed asset Investments Llsted Investments Cost orvaluatlon At 1 April 2024 Additions Valuation changes Disposals 239,299 589,301 14,989 (83.238) Al 31 March 2025 760,351 Carrylng amount At 31 March 2025 760,351 At 31 March 2024 239,299 -28-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Debtors 2025 2024 Amounts falling due wlthln one year: Trade debtors Other debtors Prepayments and accrued income 10.648 2,179 49,048 6,708 3.318 48,567 61,875 58.591 20 Current asset Investments 2025 2024 Unlisted investments 5.900 11,128 21 Credltors: amounts falllng due wlthln one y8ar 2025 2024 other taxation and social security Trade creditors Other creditors Accruals and deferred income 27,983 36,977 58,178 20.032 21,331 44,625 51,657 21,547 143.168 139,160 22 Retlrement beneflt s¢hemes 2025 2024 Defined contribution schemes Charge to profil or loss in respect of defined conlribulion schemes 37,658 33,742 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. -29-
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 23 Restricted funds Current financlal year Movement in funds Incomlng R•sour¢es resources oxpandBd Balance at l Aprll 2024 Transfers Balance at 31 March 2025 Community Respite Bed Community Foundation Staff Counselling Fund Refurbishment fund Nursing training The William Webster Charitable Trust Pergola Parkinsons Sociely Shortfall Aclivites for day care 11.000 (11.000) 2.221 26.041 (444) (3,711) (1.643) (507) {1,021) 1,777 24.935 1,000 1,643 1.605 2,121 1,200 702 1,614 179 702 15,000 2,035 (15.000) (2.035) 32.285 30,678 (35.361) 1.605 29,207 Prior financlal year Movement In funds Incomlng Rosources resources gxpondod 8alan¢e at 1 Aprll 2023 Transfers Balan¢0 at l Aprll 2024 Community Foundation Staff Counselling Fund Workforce Rèfurbishment fund Nursing training The William Webster Charitable Twst Pergola Parkinsons Society Shortfall Activites for day care 2.778 (557) (2,845) (2,809) (2.647) (636) 2,221 2.845 2,000 2.647 20.894 5,956 26,041 2.757 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
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 23 Restricted funds (Continued Restricted funds relates to grants and donations received for the following specific purposes,. Communlty Resplte Bed Granl monies towards the cost of providing our free community respite bed. Communlty Foundatlon Staff Counselling Fund Grant monies from the Community Foundation for the sole purpose of staff CunSellIng sessions for members of staff who have struggled working throughoul the Covid-19 pandemic. Refurblshment fund Funds received from the Sir James Knolt Trust and Norlhumberland County Council specifically for the refurbishmenl of rooms and facilities within the home. Nurslng Tralning Grant monies from Northumbria University Newcastle towards Ihe Ix)sl of nursing training. The William Webster Charitable Trust Grants from William Webster to go towards the replacement of our bed railslrail bumperslexlenders. together wilh cost of replacing a steam generated iron. The full amounl of Ihe grant was not spent at the one lime and the balance was carrled fon¥ard to complete the replacement of the equipment. Pergola Grant lowards the costs of inslalling a pergola in the residents, garden area. Parklnson8 Soclety Grant to help with specific costs for residents with Parkinsons Dlsease. Shortfall Three reslricled grants from The Sir James Knolt Trust. The William Leech Charily and The W A Handley Charity Trust to help fund the full cost of nursing and residenlial care for those residents who may be unable to meet the cost of such accommodalion from their own means. Actlvltles for Day Care Donations received towards the cosl of providing activities provided as part of our day care service. 31
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 24 Designated unrestrlcted funds The income funds of the charity include Ihe following designated funds which have been set aside out of unreslricled funds by the trustees for specific purposes= Current financial year Movement in funds Incomlng Ro$our¢as r•sour¢e8 èxpended Balance at AprS12024 Transfars Balanca al 31 March 2025 Community Respite Bed Capilal Asset Fund Residents fund Equipment fund Staff welfare fund Shortfall Development fund 137.000 569,882 3,294 934 16,769 3.589 2,912 (46.462) (916) (1.460) (350) 107,307 572,255 4,746 584 694 (300) 694 10,000 2,925 (10,000) (1.116) 1,809 711,110 36,889 (60.304) (300) 687,395 Prlor flnanclal year Movement In funds Incomlng R8sourcDs rnsources OXPond&d Balanc• al 1 Aprfl 2023 Tran8fars 8al8n¢g ot Aprll 2024 Community Respite Bed Capilal Asset Fund Residents 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
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 24 Dèslgnated unyestrlcted funds (Continued) Community Respite Bed The charity received two legacies during the year totalling £137,000. The Iruslees determined Ihal these should be allocated lo a Designated Fund to cover the costs of providing a communily respite bed during 2024125 and beyond. Capltsl Asset Fund The chariiy received a very significant legacy of £565.000 during the year. The trustees determined thal this legacy should be allocated to Ihe Designated Capital Asset Fund to be used for future refurbishment of Ihe building. Resident's Equipment Fund For the replacement of existing equipment or purchase of new 8quipment is financed by an amount designated in the budget or by specified fundraising events, grants, or unspecified donations. Staff Welfare Fund For donation to staff by residents and their families. It Is fully used each Christmas lo buy gift cards for staff. Shortfall The charity received two unrestricted grants during the year tolalling £20.000 during the year. The Trustees determined that these grants should be allocated to a Designaled Fund lo help fund the full Cosl of nursing and residential care for those residents who may be unable to meet the cost of such a¢¢ommodation from Iheir own means. Development fund During the year the Board agreed to establish a designated Development Fund. Supported by dedicated fundraising the monies raised are used to purchase essenlial equipment. new furniture and treats for the residents. 25 General unrestrlcted funds The unreslricled funds of the charity comprise the unexpended balances of donations and grants which are nol subject to specific conditions by donors and grantors as to how they may be used and available for the general work of the charity. Current financlal year At 1 April 2024 Incoming resources Resources expended Transfer8 Galns and At 31 March losses 2025 General funds 1,134,633 2,269,306 (2,236,607) (1,305) 14,469 1,180,496 Prior financial year At l April 2023 Incomlng resources Resources expended Transfers Gains and At 31 March losses 2024 General funds 1,031.694 2.149.377 (2,069.783) 23,345 1,134,633
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 26 Analysis of net assets between funds Current financial year Unrestricted Designated Restricted funds funds funds 2025 2025 2025 Total 2025 Fund balances al 31 March 2025 are represented by: Tangible assets Investments Current assetsl(liabilities) 327,035 760,351 93.110 6,167 28.505 361,707 760,351 775,040 681,228 702 1.180.496 687.395 29.207 1,897,098 Prior financlal year Unrestrlcted Deslgnated Restrlcted fund8 funds fund8 2024 2024 2024 Tolal 2024 Fund balances al 31 March 2024 are represented by.. Tangible assels Investments Current ass6tsl{liabililies) 330,482 239.299 564.852 5,516 24,589 360,587 239,299 7,698 1,278,142 705.594 1.134,633 711,110 32,285 1,878,028 27 Operatlng lease commltments Lessee Al the reporting end dale the charity had outstanding commitments for future minimum lease payments under non-can¢ellable operating leases, which fall due as follows: 2025 2024 Within one year Belween two and five years 3,414 2,160 6,692 6.956 5,574 13,648
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 28 Other Financial Commitments Under a 60 year management agreement between Ihe Charlotte Straker Project and Home Group Limited dated 1990, the charity, as successor lo the TrLtsl. is committed to make payments to Home Group Limited in respect of management charges, major repairs provision and maintenance. During thè year ended March 2011 the charity paid Home Group Limited £110,400 in relation to finance charges in advance of the next 11 years. Each year a proportion of the advance payment accounting to £10.036 is allocated to the finanual activities on a slraighl line basis. At Ihe end of 31 March 2¢Y23 the provision for advanced finance charges has been fully released to the statement of financial activities. 2025 2024 Service charges Property charges 24.438 102.837 22,876 95,444 29 Related party transacllon8 Transactlons wlth related partles During the year the charity entered into the following transactions with related parties: Donatlon8 2025 2024 Trustees 840 590 840 590 30 Cash generated from operatlon8 2025 2024 Surplus for the year 19,070 800,429 Adjustments for: Investment income recognised in statement of financial activities Loss on disposal of tangible fixed assets Loss on disposal of investments Fair value gains and losses on investments Deprecialion and impairment of tangible fixed assets (24.426) 1,177 520 (14,989) 45,043 (11,621) 142 {23,373) 45,832 Movements in working capital: (Increase)Idecrease in deblois Increasel{decrease) in creditors (3,285) 4,008 22,839 (35.135) Cash generated from operations 27,118 799,113
THE CHARLOTTE STRAKER PROJECT (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 31 Analysis of changes in net funds The charity had no material debt during ihe year.