Registered number: 03302253 Charity number: 1062170
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 6 |
| Independent examiner's report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 25 |
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Nicola Bidwell (appointed 20 March 2024) William Garnett Adrianne Granville David Horton-Fawkes Dr Andrew Llewelyn Barbara MacBrayne Peter Pattrick (appointed 20 March 2024) Nicky Milner, Chair Elizabeth Noy Sally Whitworth Bee Wood
Company registered number
03302253
Charity registered number
1062170
Registered office
Heritage House Mill Road Wells-next-the-sea Norfolk NR23 1RF
Patron
Countess of Leicester
Independent Examiner
Larking Gowen LLP Chartered Accountants 1st Floor, Prospect House Rouen Road Norwich NR1 1RE
Investment Manager
Canaccord Genuity Wealth Management Suite 4 Ground Floor 13-15 St Georges Street Norwich Norfolk NR3 1AB
Page 1
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together with the financial statements of the charity for the 1 April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) 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).
Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The objects of the Charitable Company are to promote the relief of elderly and frail persons by the provision of facilities in the interest of social welfare for recreational and other leisure time occupation with the object of improving the conditions of life for such persons who are in need whether financially or otherwise.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
a. Review of activities
For almost 40 years, Heritage House has offered day care for those living in north and west Norfolk who are elderly, vulnerable, isolated and in need whilst offering respite and support to their families and carers. Heritage House is professionally run by a great team of staff and supported by a wonderful group of volunteers. Located just outside Wells-next-the-Sea, Heritage House is surrounded by lovely gardens overlooking fabulous views of the Norfolk countryside.
Norfolk has an older population that is projected to increase at a greater rate than the rest of England, with North Norfolk in particular having the highest numbers of older people. In less than 20 years the population of over 85year-olds is expected to double in size. With loneliness and social isolation in the elderly being risk factors for several health conditions including poor mental health, Heritage House offers a lifeline.
Heritage House provides day care for visitors as far afield as Heacham, Hunstanton, Fakenham, the Burnhams and Wells – covering an area of 250 square miles. Heritage House minibuses pick up the day visitors from their door and return them home at the end of the day. We offer first class care and support and the chance for up to 30 visitors to spend all day, five days a week in great company.
Activities
Our day visitors benefit from a home-cooked, two course lunch and have access to a wide range of other essential services. These include specialist bathing, chiropody and physiotherapy, as well as activities such as art classes, therapeutic exercise, music, gardening, outings and special events. Visiting musicians and entertainers all help to provide physical and mental stimulation. Most importantly, our visitors enjoy the companionship of other visitors, and of our team of dedicated staff and volunteers.
Page 2
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance (continued)
This year, General Manager Steve Cheshire and his team ensured that the day visitors kept engaged by celebrating key dates (St Valentine’s, St David’s, St Patrick’s and St George’s Day) as well as Easter, Christmas and Remembrance Day. The visitors enjoyed many special events in style. Everyone had a wonderful week celebrating the Coronation of King Charles III. A special visit to Sandringham was a particular highlight for the visitors. The Heritage House team pulled out all the stops to give everyone a week to remember. Other special events during the year included visits from two soloists of the Britten Sinfonia, The Starbeats, The Wild Rovers, Jeff Short’s Swing Band as well as trips to Holkham, Wells Lifeboat station and to Scolt Head. Thank you to the team for creating such a variety of entertainment whilst continuing to give such excellent care.
November saw the launch of a series of monthly HH Talks, welcoming existing and new visitors to Heritage House. The speakers included Lady Glenconner, Adrian Dwyer and James Bracey. The HH Talks have been a great success and we are grateful to all the speakers for giving their time and supporting Heritage House.
Our thanks to Reverend Brenda Stewart for continuing the regular Communion services, as well as celebrating special dates such as Harvest Festival.
The General Manager and the staff organised a wonderful Christmas experience for all the visitors, providing fabulous, festive entertainment and gifts.
Volunteers
We currently have 52 registered active volunteers comprising 18 drivers, 16 assistants, 3 gardeners, 1 day care helper and 14 lunch drivers. They are all integral to the success of Heritage House and we are really fortunate to have such a great team.
At the end of January, Steve and Helen organised a wonderful party/awards ceremony for the volunteers. It was a very special evening with about 60 volunteers attending. The trustees would like to thank all the volunteers for their invaluable support.
People
Over this past year we have been delighted to welcome many new day visitors.
The trustees would like to thank Steve, General Manager, for leading the team successfully, whilst working closely with Norfolk County Council Social Services and other agencies and organisations to ensure the continued success of Heritage House. Thank you to all the staff in their various roles - for their dedication, and the highly professional quality of care that they give to all the day visitors. With such a friendly and caring team each visitor leaves feeling special and valued.
Fundraising
Heritage House is not a self-funding operation and requires significant donations in order to survive. We are grateful for the support of the charitable trusts, the people who have left Gifts in their Will, the anonymous donors and many other supporters. Without their generosity our vital work would not continue. We are particularly grateful to have received a very generous legacy from one of our past volunteers, Sylvia Dawn Andrews.
In addition, the trustees would like to thank all the many volunteers and staff who worked so hard throughout the year raising funds at local events. Events have ranged from guessing how many balloons in a mini, to a Holkham Cycle ride, a rugby guesser, Stody Teas, Elaine’s wing walk and Sally’s sensational cake stall. Saturday 23rd December saw Sally’s final cake stall. A big thank you to Sally who over 8 years of the cake stall has raised a truly astonishing £45,000. Thank you to all our fundraisers and volunteers who do such amazing work.
Page 3
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance (continued)
The trustees would like to thank Andrea Sowerby and Sowerby’s Holiday Cottages, the Holkham Estate, Scillitoe Brothers , Leftley’s and Arthur Howell for their wonderful support once again this year.
In addition, we would like to acknowledge and thank the Norfolk County Council for its partnership.
And finally….thank you to all our staff, volunteers and supporters who give so much of their time to help Heritage House provide the very best day care for our visitors.
Thank you to all the trustees, and to our Patron Polly Leicester, for their expertise, time and invaluable support.
b. Investment policy and performance
The trust deed gives the trustees the power to acquire and dispose of investments as they see fit, as well as powers to appoint a suitably qualified investment manager with delegated powers of investment, subject to an annual review. Where possible, investments are considered as to their suitability taking into account social and ethical issues, as well as risk, capital and income aspects.
In line with the above parameters, the trustees have continued to authorise investment in UK Government short dated gilts rather than leave cash on deposit at a bank thereby generating a superior risk-free return. The charity maintained its investment portfolio of global equities which generated a profit for the year.
Page 4
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Financial review
a. Going concern
After making appropriate enquiries and taking into consideration the above, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Financial review
The accounts attached to this report demonstrate in financial terms the activities of the company for the past year. The movement in the general reserves reflect the normal activities of the charity for the year showing a net inflow of £159,292 (2023: outflow £29,856). The restricted fund shows a net inflow for the year of £10,601 (2023: outflow £19,599).
The charity has total assets of £989,863 (2023: £819,970). This is made up of a restricted fund of £387,683 (2023: £377,082) which comprises the ambulances, the office and cookery equipment and building improvements, and cash held following a fundraising appeal to purchase a new mini bus. The remainder of the reserves, which are made up of the general funds and can be applied for any purpose decided by the charity, amount to 2024 £602,180 (2023: £442,888)
c. Risk management
The Trustees have reviewed the risks faced by the charity and will continue to monitor the risks. The risk management strategy to be followed comprises the following:
-
an annual review of the risks the charity may face;
-
the establishment of systems and procedures to mitigate those risks identified in the plan;
-
the implementation of procedures designed to minimise any potential impact on the charity should any of those risks materialise.
d. Reserves policy
The charity aims to retain a level of free liquid reserves which is sufficient to cover the entire normal outgoings of the charity for a period of at least 6 months. The Trustees feel that this is a reasonable policy.
Free reserves comprise the net of fixed asset investments, current assets and creditors held within unrestricted funds. At the year-end free reserves are £428,045 (2023: £259,743).
Structure, governance and management
a. Constitution
The company was formed on 14 January 1997 and is governed by its Memorandum and Articles. The company is a registered charity. The company is managed by a board of Trustees, currently there are 11 Trustees – under the Memorandum and Articles the minimum number is 3 with no maximum. At the Annual General Meeting Trustees retire by rotation and can stand for re-election. When necessary, a Trustee is appointed for the skills and expertise they can bring to strengthen or broaden the Board. The Trustees meet three times a year and at the Annual General Meeting.
Page 5
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management (continued)
The day-to-day management is undertaken by the General Manager and the Catering Manager, supported by two part-time administrators, four part-time care assistants, and a part-time kitchen assistant. The charity is constituted under a Memorandum of Association dated 14 January 1997 and is a registered charity number 1062170.
b. Methods of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association, which require that at each Annual General Meeting, one third of members of the board shall retire from office, and then subject to re-election.
Trustees are also directors for the purposes of company law.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
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HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024
Independent examiner's report to the Trustees of Heritage House Caring Group (Wells-nextthe-Sea) Limited ('the charity')
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2024.
Responsibilities and basis of report
As the Trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Signed: Dated: 4/9/2024
Giles Kerkham FCA DChA
Larking Gowen LLP
Chartered Accountants
Norwich
Page 7
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024
| Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments 6 Total income Expenditure on: Raising funds Charitable activities 8 Total expenditure Net income/(expenditure) before net gains/(losses) on investments Net gains/(losses) on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2024 £ 25,500 - - - 25,500 - 14,899 14,899 10,601 - 10,601 377,082 10,601 387,683 |
Unrestricted funds 2024 £ 259,053 166,614 15,777 2,661 444,105 3,722 289,892 293,614 150,491 8,801 159,292 442,888 159,292 602,180 |
Total funds 2024 £ 284,553 166,614 15,777 2,661 469,605 3,722 304,791 308,513 161,092 8,801 169,893 819,970 169,893 989,863 |
Total funds 2023 £ 40,582 154,671 47,164 2,313 244,730 11,735 279,916 291,651 (46,921) (2,534) (49,455) 869,425 (49,455) 819,970 |
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 25 form part of these financial statements.
Page 8
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee) REGISTERED NUMBER: 03302253
BALANCE SHEET AS AT 31 MARCH 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | 11 | 536,318 | 560,227 | ||
| Investments | 12 | 142,274 | 207,386 | ||
| 678,592 | 767,613 | ||||
| Current assets | |||||
| Debtors | 13 | 18,562 | 3,068 | ||
| Cash at bank and in hand | 307,779 | 58,835 | |||
| 326,341 | 61,903 | ||||
| Creditors: amounts falling due within one | |||||
| year | 14 | (15,070) | (9,546) | ||
| Net current assets | 311,271 | 52,357 | |||
| Total net assets | 989,863 | 819,970 | |||
| Charity funds | |||||
| Restricted funds | 15 | 387,683 | 377,082 | ||
| Unrestricted funds | 15 | 602,180 | 442,888 | ||
| Total funds | 989,863 | 819,970 |
The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies’ regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
The notes on pages 10 to 25 form part of these financial statements.
Page 9
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. General information
Heritage House Caring Group (Wells-next-the-Sea) Limited is constituted under a Memorandum of Association dated 14 January 1997, incorporated in England. The registered office is Heritage House, Mill Road, Wells-next-the-Sea, Norfolk NR23 1RF.
The charity is a company limited by guarantee and in the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Heritage House Caring Group (Wells-next-the-Sea) Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income is considered to be sufficient, with the level of unrestricted reserves, for the charity to be able to meet its liabilities as they fall due. For this reason, the trustees consider it appropriate for the financial statements to continue to be prepared on a going concern basis.
Page 10
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the charity, can be reliably measured.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 11
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.5 Pensions
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
2.6 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
| Freehold property | - Nil |
|---|---|
| Plant and machinery | - 20% straight line |
| Motor vehicles | - 20% straight line |
| Office equipment | - 20% straight line |
No depreciation charge is made in respect of the freehold property as, in the opinion of the trustees, any charge would be immaterial. The property continues to be repaired to a high standard and therefore it is felt that a high residual value is maintained.
2.7 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
2.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
2. Accounting policies (continued)
2.10 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation.
2.11 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2.12 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
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HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
3. Income from donations and legacies
| Restricted funds 2024 £ Donations 25,500 Legacies - 25,500 Total 2023 2,100 Income from charitable activities Meal, bath and hairdressing income and fees invoiced Total 2023 |
Unrestricted funds 2024 £ 36,490 222,563 259,053 38,482 Unrestricted funds 2024 £ 166,614 154,671 |
Total funds 2024 £ 61,990 222,563 284,553 40,582 Total funds 2024 £ 166,614 154,671 |
Total funds 2023 £ 29,535 11,047 40,582 Total funds 2023 £ 154,671 |
|---|---|---|---|
4. Income from charitable activities
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HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
5. Income from other trading activities
Income from fundraising events
| Events 200 Club income Total 2023 6. Investment income Investment income Total 2023 7. Investment management costs Investment management fee Total 2023 |
Unrestricted funds 2024 £ 14,106 1,671 15,777 47,164 Unrestricted funds 2024 £ 2,661 2,313 Unrestricted funds 2024 £ 551 716 |
Total funds 2024 £ 14,106 1,671 15,777 47,164 Total funds 2024 £ 2,661 2,313 Total funds 2024 £ 551 716 |
Total funds 2023 £ 45,998 1,166 47,164 Total funds 2023 £ 2,313 Total funds 2023 £ 716 |
|---|---|---|---|
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HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
8. Analysis of expenditure by activities
| Expenditure on charitable activities Total 2023 |
Activities undertaken directly 2024 £ 229,423 206,437 |
Support costs 2024 £ 75,368 73,479 |
Total funds 2024 £ 304,791 279,916 |
Total funds 2023 £ 279,916 |
|---|---|---|---|---|
Analysis of direct costs
| Staff costs Depreciation and profit on disposal Ambulance costs Food / care costs Training costs |
Total funds 2024 £ 151,298 27,619 25,963 23,923 620 229,423 |
Total funds 2023 £ 137,634 33,282 18,539 16,232 750 |
|---|---|---|
| 206,437 |
Page 16
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
8. Analysis of expenditure by activities (continued)
Analysis of support costs
| Repair and maintenance Waste disposal Light and heat Insurance Bank charges Professional fees Office costs Cleaning Sundry expenses |
Total funds 2024 £ 11,646 3,772 14,362 11,902 297 10,584 7,863 10,604 4,338 75,368 |
Total funds 2023 £ 3,834 2,893 14,357 10,484 405 8,798 9,198 10,638 12,872 73,479 |
|---|---|---|
9. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £4,757 (2023 - £4,488) , and other accountancy costs of of £3,181 ( 2023 - £4,310 ).
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(A company limited by guarantee)
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
10. Staff costs
| Wages and salaries Social security costs Pension costs |
2024 £ 140,174 8,796 2,328 151,298 |
2023 £ 133,003 2,623 2,008 137,634 |
|---|---|---|
The average number of persons employed by the charity during the year was as follows:
| 2024 | 2023 |
|---|---|
| No. | No. |
| 9 | 9 |
No employee received remuneration amounting to more than £60,000 in either year.
The charity considers its key management personnel (KMP) comprise the trustees, the Day Care Manager and the Catering Manager. The total employment benefits including employer pension contributions of the KMP were £69,813 (2023: £63,796).
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HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
11. Tangible fixed assets
| Cost or valuation At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Freehold property Extension £ £ 38,391 359,532 - - 38,391 359,532 - - - - - - 38,391 359,532 38,391 359,532 |
Canopy and Plant and fence machinery £ £ 38,628 73,783 - 3,710 38,628 77,493 9,657 72,720 9,657 1,805 19,314 74,525 19,314 2,968 28,971 1,063 |
Motor vehicles £ 13,000 - 13,000 13,000 - 13,000 - - |
Solar panels £ 14,311 - 14,311 5,727 716 6,443 7,868 8,584 |
Bradbury Room £ 127,927 - 127,927 9,841 9,841 19,682 108,245 118,086 |
Ambulance £ 97,490 - 97,490 91,890 5,600 97,490 - 5,600 |
Total £ 763,062 3,710 |
|---|---|---|---|---|---|---|---|
| 766,772 | |||||||
| 202,835 27,619 |
|||||||
| 230,454 | |||||||
| 536,318 | |||||||
| 560,227 |
Page 19
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
12. Fixed asset investments
| Cost or valuation At 1 April 2023 Additions Disposals Revaluations At 31 March 2024 |
Listed investments £ 207,386 65,880 (139,793) 8,801 142,274 |
|---|---|
13. Debtors
| Due within one year Other debtors Legacies receivable |
2024 £ 5,999 12,563 18,562 |
2023 £ 3,068 - 3,068 |
|---|---|---|
Page 20
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
14. Creditors: Amounts falling due within one year
| Other taxation and social security Accruals and deferred income |
2024 £ 2,413 12,657 15,070 |
2023 £ 1,983 7,563 9,546 |
|---|---|---|
Page 21
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
15. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds Restricted funds Extension, refurbishment & canopy Solar panels Minibus appeal Total of funds |
Balance at 1 April 2023 £ 442,888 368,498 8,584 - 377,082 819,970 |
Income £ 444,105 - - 25,500 25,500 469,605 |
Expenditure £ (293,614) (14,183) (716) - (14,899) (308,513) |
Gains/ Balance at 31 March (Losses) £ 2024 £ 8,801 602,180 - 354,315 - 7,868 - 25,500 - 387,683 8,801 989,863 |
|---|---|---|---|---|
Restricted funds mainly arise from money received to purchase tangible fixed assets. Expenditure on these funds represent the annual depreciation charge.
Page 22
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
15. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General Funds Restricted funds Extension, refurbishment & canopy Ambulance Day visitors Solar panels Minibus appeal Energy Total of funds |
Balance at 1 April 2022 £ 411,022 382,681 14,700 33,685 27,337 - - 458,403 869,425 |
Income £ 242,630 - - - - 1,250 850 2,100 244,730 |
Expenditure £ (269,952) (14,183) (4,700) - (716) (1,250) (850) (21,699) (291,651) |
Transfers in/out £ 61,722 - (10,000) (33,685) (18,037) - - (61,722) - |
Gains/ (Losses) £ (2,534) - - - - - - - (2,534) |
Balance at 31 March 2023 £ 442,888 368,498 - - 8,584 - - 377,082 819,970 |
|---|---|---|---|---|---|---|
Page 23
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
16. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total |
Restricted funds 2024 £ 362,183 - 25,500 - 387,683 |
Unrestricted funds 2024 £ 174,135 142,274 300,841 (15,070) 602,180 |
Total funds 2024 £ 536,318 142,274 326,341 (15,070) 989,863 |
|---|---|---|---|
Page 24
(A company limited by guarantee)
HERITAGE HOUSE CARING GROUP (WELLS-NEXT-THE-SEA) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
16. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Ttl |
Restricted funds 2023 £ 377,082 - - - 377,082 |
Unrestricted funds 2023 £ 183,145 207,386 61,903 (9,546) 442,888 |
Total funds 2023 £ 560,227 207,386 61,903 (9,546) 819,970 |
|---|---|---|---|
Total
17. Related party transactions
The charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charity at 31 March 2024.
During the year, no Trustees received any remuneration or other benefits or received any reimbursement of expenses (2023: £nil).
Page 25