| Contents | Page | |
|---|---|---|
| Board of Trustees' Report |
1-6 | |
| Independent Auditor's Report |
7-10 | |
| Statement of Financial Activities |
||
| Balance Sheet | 12 | |
| Statement of Cash Flows |
13 | |
| Notes to the Financial Statements | 14-25 | |
| Management Information Schedule |
—unaudited | 26 |
| Restricted | Unrestricted | Total Funds | Restricted | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|---|---|
| Fund 2023 | Funds 2023 | 2023 | Fund 2022 | Funds 2022 | 2022 | ||
| Income From: | |||||||
| Donations (note 6.2) |
2, 500 | 2,500 | 1,032 | 1,032 | |||
| Chari tab(e activities: | |||||||
| Residents Fees (net of |
|||||||
| residents pocket money) (note 4) |
3,504,446 | 3,504,446 | 3,003,362 | 3,003,362 | |||
| Other Income (note | 5) | 4,272 | 4,272 | 96,108 | 6,200 | 102,308 | |
| Investments (note 6.1) |
510 | 510 | 237 | 237 | |||
| Total Income | 3,511,728 | 3,511,728 | 96,108 | 3,010,831 | 3,106,939 | ||
| Expenditure on: (note 7) |
|||||||
| Charitable Activities |
|||||||
| Cost of residents | 11,643 | 3,578,592 | 3,590,235 | 107,751 | 3,053,351 | 3,161,102 | |
| Total Expenditure | 11,643 | 3,578,592 | 3,590,235 | 107,751 | 3,053,351 | 3,161,102 | |
| Net Income I (Expenditure) |
(11,643) | 66,864) | (78,507) | (11,643) | 42,520) | (54,163) | |
| Gains on revaluation | of | ||||||
| fixed assets | 50,000 | 50,000 | |||||
| Net Movement in funds |
(11,643) | (16,864) | (28,507) | (11,643) | (42,520) | (54,163) | |
| Funds balances at 1 2022 |
April | 323,289 | 964,601 | 1,287,890 | 334,932 | 1,007,121 | 1,342,053 |
| Transfer of funds | |||||||
| Funds balances at 31 March 2023 (note 19) |
311,646 | 947,737 | 1,259,383 | 323,289 | 964,601 | 1,287,890 |
| THE TURNE | R HOME | ||||||
|---|---|---|---|---|---|---|---|
| BALANCE | SHEET | ||||||
| 31 March | 2023 | ||||||
| Note | 2023 | 2022 | |||||
| Fixed assets | |||||||
| Tangible assets | 1,367,266 | 1,305,118 | |||||
| Current assets | |||||||
| Stocks | 12 | 10,173 | 19,573 | ||||
| Debtors | 13 | 430,440 | 578,188 | ||||
| Cash at bank | and in | hand | 222,816 | 218,201 | |||
| 663,429 | 815,962 | ||||||
| Liabilities | |||||||
| Creditors: amounts |
falling | 14 | (741,312) | (793,190) | |||
| due within one year |
|||||||
| Net current | assets | (77,883) | 22,772 | ||||
| Total assets | less current | 1,289,383 | 1,327,890 | ||||
| liabilities | |||||||
| Long term liabilities | 16 | (30,000) | (40,000) | ||||
| Net assets | 1,259,383 | 1,287, 890 | |||||
| Income Funds: | |||||||
| Unrestricted funds Restricted funds |
19,20 19,20 |
947,737 311,646 |
964,601 323,289 |
||||
| Total funds | 1,259,383 | 1,287,890 |
| Notes | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|
| Cash flows from operating activities |
||||||
| Net Cash provided by operating activities |
17 | 66,958 | 121,800 | |||
| Cash flows from investing activities |
||||||
| Purchase of tangible fixed assets |
(62,853) | (31,507) | ||||
| Interest received | 510 | 237 | ||||
| (62,343) | (31,270) | |||||
| Net cash provided by investing activities |
||||||
| Cash flows from financing activities |
||||||
| Net cash provided by financing activities |
||||||
| Net increase in cash and cash equivalents the year |
in | 4,615 | 90,530 | |||
| Cash and cash equivalents at the beginning on the year |
218,201 | 127,671 | ||||
| Total cash and cash equivalents at the end of the year |
222,816 | 218,201 |
| Income f | ro | m charitable activities |
||
|---|---|---|---|---|
| 2023 | 2022 | |||
| E | E | |||
| Residents | Fees | 3,504,446 | 3,003,362 | |
| Government | grants | 96,108 | ||
| 3,504,446 | 3,099,470 |
| ther i | ncome - unrestricted | ||
|---|---|---|---|
| 2023 | 2022 | ||
| E | E | ||
| Rent | 3,740 | 4,080 | |
| Sundry | Income | 532 | 2,120 |
| 4,272 | 6,200 |
| 2023 | 2023 | 2023 | |||
|---|---|---|---|---|---|
| Activities | Support | ||||
| Undertaken | Costs | Total | |||
| Costs | directly | allocated to | |||
| charitable activities |
|||||
| Staff | costs | 1,687,832 | 1,687,832 | ||
| Legal | Et professional/payroll | 89,130 | 89,130 | ||
| Et bookkeeping | fees | ||||
| Motor | expenses | 2,452 | 2,452 | ||
| Repairs and renewals | 113,922 | 113,922 | |||
| Depreciation | 50,705 | 50,705 | |||
| Domestic expenses | 406,928 | 406,928 | |||
| Other | related service costs | 1,055,106 | 1,055,106 | ||
| Other | expenses | 184,160 | 184,160 | ||
| 3,501,105 | 89,130 | 3,590,235 | |||
| 2022 | 2022 | 2022 | |||
| Activities | Support | ||||
| Undertaken | Costs | Total | |||
| Costs | directly | allocated to | |||
| charitable activities |
|||||
| Staff | costs | 1,332,189 | 1,332,189 | ||
| Legal | Et professional/payroll | 55,793 | 55,793 | ||
| Et bookkeeping | fees | ||||
| Motor | expenses | 5,684 | 5,684 | ||
| Repairs and renewals | 95,103 | 95,103 | |||
| Depreciation | 51,337 | 51,337 | |||
| Domestic expenses | 404,445 | 404,445 | |||
| Other | related service costs | 1,113,870 | 1,113,870 | ||
| Other | expenses | 102,681 | 102,681 | ||
| 3,105,309 | 55,793 | 3,161,102 |
| Net income | for the | ye | ar | ||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| This is stated | after | charging: | E | E | |
| Revaluation | of tangible | fixed assets (note 11) | (50,000) | ||
| Audit fees (included | in | legal and professional) | 9,000 | 8,996 | |
| Depreciation | 50,705 | 51,337 | |||
| Other services performed by auditor |
360 |
| Staff costs | ||||
|---|---|---|---|---|
| 2023 | 2022 | |||
| E | ||||
| Wages and salaries | 1,526,372 | 1,216,745 | ||
| Social security | costs | 136,984 | 97,233 | |
| Pension costs | 24,476 | 18,211 | ||
| 1,687,832 | 1,332,189 | |||
| No employees | emoluments | exceeded E60,000. |
| No. | No. | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Average | weekly | number | of | employees | during | the | year | was | ||
| Nursing | staff | 62 | 51 | |||||||
| Administration | 5 | 6 | ||||||||
| 67 | 57 |
| At 1 | At 31 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Cost | April 2022 | Additions | Revaluation | Disposals | March 2023 | ||||
| E | E | E | E | E | |||||
| Freehold | building | 1,300,000 | 50,000 | 1,350,000 | |||||
| Fixtures, | fittings | and equipmen | 162,190 | 57,146 | 219,336 | ||||
| Motor vehicle | 19,274 | 19,274 | |||||||
| Computers | 17,054 | 5,707 | 22,761 | ||||||
| 1,498,518 | 62,853 | 50,000 | 1,611,371 | ||||||
| Depreciation | At 1 April 2022 |
Charge for year |
Disposals | At 31 March 2023 |
|||||
| E | E | E | |||||||
| Freehold | building | 52,000 | 21,745 | 73,745 | |||||
| Fixtures, | fittings | and equipmen | 114,809 | 24,902 | 139,711 | ||||
| Motor vehicle | 19,274 | 19,274 | |||||||
| Computers | 7,317 | 4,058 | 11,375 | ||||||
| 193,400 | 50,705 | 244,105 | |||||||
| Net book | value | At 1 April | 2022 E |
At | 31 March 2023 |
||||
| E | |||||||||
| Freehold | building | 1,248, | 000 | 1,276,255 | |||||
| Fixtures, | fittings | and equipment | 47, | 381 | 79,625 | ||||
| Motor vehicle | |||||||||
| Computers | 9,737 | 11,386 | |||||||
| 1,305,118 | 1,367,266 |
| 12 | Stock | ||||||
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| E | E | ||||||
| Food and | consumable supplies |
10,173 | 19,573 | ||||
| 13 | Debtors | ||||||
| Due within | one year | 2023 | 2022 | ||||
| E | E | ||||||
| Residents' | Fees | 152,282 | 464,720 | ||||
| Other debtors | 15,563 | 5,105 | |||||
| Prepayments and accrued income |
262,595 | 108,363 | |||||
| 430,440 | 578,188 | ||||||
| 14 | Creditors | ||||||
| Amounts | falling | due within | one year: | 2023 | 2022 | ||
| E | E | ||||||
| Trade Creditors | 303,712 | 282,787 | |||||
| Taxation | and Social Security | 42,808 | 24,642 | ||||
| Accruals | and Other Creditors | 346,357 | 351,549 | ||||
| Bank Loans | 10,000 | 10,000 | |||||
| Deferred | income (note 15) | 38,435 | 124,212 | ||||
| 741,312 | 793,190 | ||||||
| 15 | Deferred | Income | |||||
| 2022 | 2022 | ||||||
| E | E | ||||||
| Balance as | at 1 April 2022 | 124,212 | 21,426 | ||||
| Release of | deferred income |
(124,212) | (21,426) | ||||
| Income deferred | in year | 38,435 | 124,212 | ||||
| Balance as | at 31 March 2023 | 38,435 | 124,212 |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| E | E | ||||||
| Bank loans and overdrafts | 30,000 | 40,000 | |||||
| 30,000 | 40,000 | ||||||
| 17 | Cash generated from |
operating | activities | ||||
| 2023 | 2022 | ||||||
| E | E | ||||||
| Net income/(expenditure) | for the year | (28,507) | (54,163) | ||||
| Depreciation and amortisation |
of tangible | fixed assets | 50,705 | 51,337 | |||
| Revaluation of tangible |
fixed assets | (50,000) | |||||
| Interest received | (510) | (237) | |||||
| Decrease/(increase) | in | stock | 9,400 | (5,916) | |||
| Decrease/(increase) (Decrease) /increase |
in in |
debtors creditors |
147,748 ~61,878) |
(190,094) 320,873 |
|||
| Net cash provided by |
operating | activities | 66,958 | 121,800 |
| as | es as follows: | ||
|---|---|---|---|
| 2023 | 2022 | ||
| E | E | ||
| In | one year or less | 16,269 | 6,294 |
| In | more than one year but not more than five years | 5,302 | 3,722 |
| 21,571 | 10,016 |
| Balance | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance at | Transfer | at 31 | |||||||
| 1 April 2022 |
Incoming Resources |
Resources Expensed |
between funds |
March 2023 |
|||||
| E | E | E | E | ||||||
| New wing | fund | 58,000 | (2,000) | 56,000 | |||||
| Generator | fund | 10,000 | 10,000 | ||||||
| Eric Fisher | wing | fund | 207,411 | (8,643) | 198,768 | ||||
| Lift fund | 47,878 | (1,000) | 46,878 | ||||||
| Total restricted | funds | 323,289 | (11,643) | 311,646 | |||||
| Unrestricted | funds | 964,601 | 3,561,728 | (3,578,592) | 947,737 | ||||
| Total unrestricted | funds | 964,601 | 3,561,728 | 3,578,592 | 947,737 | ||||
| Total funds | 1,259,383 |
| Balance at | Transfer | Balance at | ||||||
|---|---|---|---|---|---|---|---|---|
| 1 April | Incoming | Resources | between | 31 March | ||||
| 2021 | Resources | Expensed | funds | 2022 | ||||
| E | E | E | E | |||||
| New wing fund | 60,000 | (2,000) | 58,000 | |||||
| Generator | fund | 10,000 | 10,000 | |||||
| Eric Fisher | wing fund | 216,054 | (8,643) | 207,411 | ||||
| Lift Fund | 47,878 | (1,000) | 47,878 | |||||
| COVID-19 Support | Grants | 96,108 | (96,108) | |||||
| Total restricted | funds | 334,932 | 96,108 | 107,751) | 323,289 | |||
| Unrestricted | funds | 1,007,121 | 3,010,831 | (3,053,351) | 964,601 | |||
| Total unrestricted | funds | 1,107,121 | 3,010,831 | (3,053,351) | 964,601 | |||
| Total funds | 1,342,053 | 3,106,939 | (3,161,102) | 1,287,890 |
| 2023 | 2023 | |||
|---|---|---|---|---|
| Unrestricted | Restricted | |||
| funds | funds | 2023 Total | ||
| E | E | E | ||
| Tangible | Fixed Assets | 1,065,620 | 301,646 | 1,367,266 |
| Current | Assets | 653,429 | 10,000 | 663,429 |
| Current | Liabilities | (741,312) | (741,312) | |
| Non-Current Liabilities |
30,000) | (30,000) | ||
| Total net assets | 947,737 | 311,646 | 1,259,383 |
| 2022 | 2022 | |||
|---|---|---|---|---|
| Unrestricted | Restricted | |||
| funds | funds | 2022 Total | ||
| E | E | E | ||
| Tangible | Fixed Assets | 991,829 | 313,289 | 1,305,118 |
| Current | Assets | 805,962 | 10,000 | 815,962 |
| Current | Liabilities | (793,190) | (793,190) | |
| Non-Current Liabilities |
(40,000) | (40,000) | ||
| Total net assets | 964,601 | 323,289 | 1,287,890 |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| E | ||||||||
| Income | ||||||||
| Residents' fees | 3,504,446 | 3,003,362 | ||||||
| Grant Income | 96,108 | |||||||
| Bank interest | 510 | 237 | ||||||
| Rent receivable | 3,740 | 4,080 | ||||||
| Donation | 2,500 | 1,032 | ||||||
| Sundry income |
532 | 2,120 | ||||||
| 3,511,728 | 3,106,939 | |||||||
| Expenditure | ||||||||
| Salaries, wages and | national | insurance | 1,663,356 | 1,313,978 | ||||
| Pension related costs | 24,476 | 18,211 | ||||||
| Other related service costs |
1,055,106 | 1,113,870 | ||||||
| Domestic expenses | ||||||||
| Fuel, gas and electricity | 98,238 | 128,591 | ||||||
| Household and laundry |
186,209 | 170,657 | ||||||
| Water rates | 20,555 | 21,559 | ||||||
| Insurance | 51,026 | 40,496 | ||||||
| Medical expenses | 44,181 | 36,422 | ||||||
| Chiropody | 6,720 | 6,720 | ||||||
| Repairs and modernisation | 113,922 | 95,103 | ||||||
| Administration expenses |
||||||||
| Postage and stationery | 4,519 | 2,870 | ||||||
| Recruitment expenses |
72,517 | 21,083 | ||||||
| Telephone and fax |
4,515 | 3,888 | ||||||
| Bank charges and interest | 430 | 522 | ||||||
| Subscriptions | 40,915 | 20,314 | ||||||
| IT expenses | 13,637 | 25,754 | ||||||
| Staff training courses |
15,161 | 7,222 | ||||||
| Miscellaneous expenses |
||||||||
| Depreciation | 50,705 | 51,337 | ||||||
| Motor expenses | 2,452 | 5,684 | ||||||
| Audit/Accountancy | fees | 9,000 | 8,996 | |||||
| Legal Et professional/payroll |
Et bookkeeping | fees | 80,130 | 46,797 | ||||
| Sundry expenses | 12,789 | 9,168 | ||||||
| Entertainment | 1,613 | 2,653 | ||||||
| Staff uniforms | 5,487 | 3,970 | ||||||
| Bank Interest Paid |
1,133 | 1,250 | ||||||
| Travel expenses | 11,443 | 3,987 | ||||||
| Total expenditure | (3,590,235) | (3,161,102) | ||||||
| (78,507) | (54,163) | |||||||
| Other Income | ||||||||
| Revaluation Surplus |
50,000 | |||||||
| Deficit for the year | (28,507) | (54,163) |