Bethshan Slwltorod Hou$lng Awi¢latlon Contents of the Flnan¢lal Stat¢m•nts forth• Y•ar Ended 31 March 2022 Pag• Rgferoncg and Admlnl8lratlv• D•tall$ Report of the Trustee5 2 to 8 R•port of tho Indopendent Auditorn 9 to 12 Statement of Flnanclal Aclfvltles 13 Balanc• Sho•t 14 k) 15 Cash Flow Slaternont 16 Notos to tho Cash Flow Slatsmont 17 Notes to the Flnanclal Statements 18 10 26 D•tall•d Statom•nt of Flnanelal Actlvltle8 27 to 28 R•f•rnn¢• and Admlnl$trali¥e Det•llB lor th• Y•ar End•d JI 2022 TRUSTEES Rev A L He•&itt Rev J D Smith Mr LAlen M R PJlport Rev D H Curgenven Rev S R Curgenven E T C(M)mber H Y Wenban R W Tapptn REGISTERED OFFICE SY16 1JA REGISTERED COMPANY NUMBER 03324634 {England and Wdes) REGISTERED CHARrrY NUMBER 1W373 AUDITORS Morgan Grlffths LLP Chartered Accountsnls Statuiory Auditor Cross Chamber¥ 9 High Stregt SY16 2NY SOLICITORS Geld•rds LLP Numt*r One Pride Place Prwje Parf( DE24 8QR BANKERS Bank of Scodand PLC- Cardiff Barcw Bank PLC . N•*to% INVESTMENT ACCOUNTS Akleffl￿re Bank. Hodge Bank, Cambridge & Counties 8ank, Hampshire Trust Bank. Redv4wd Bank, Mfylulr Finance Ltd SENIOR MANAGEMENT Sfft Campbell {Home Manager) Roy Tappin (Registered IndNidual) Oebbie Cade (Finance Manager) Page 1 for the Yw Endad 31 March 2022 The trustees who are also director5 of the charity for Ihe purFoses of the Companies Act 2006, present their report wth the finanual ststements of the charity for the year ended 31 March 2022. The trustee$ have adopted the prowsions of Accounting and Reporting ty Charities: Slatement of Recommend￿ Practice applicable to tharits.es preparing their accounts in acu}rdan(￿ v#ith the Financial Reporting Standard applicable in the UK and ReputAic of Ireland {FRS 102} {effectpie 1 January 2019). OBJECTIVES AND ACTivrriES ObJectlv8s and alms We primarity exist to meet the needs of the populat￿ of Nvhtcwm. P(rdys. and the surrounding areas. The objects of the charity remain 'the rdief of poverty. Sickness and okl a9e' and Bethshan conlinues to fulfil Ihese objects specfficalty by means of the provisi￿ of nuT￿ng home care for frail eklerty persons as well as Ihose living more advanced fo￿5 of dementia. Des￿ the ong(Mng pandemic, we have been able to provide care for S￿ty-three indNiduaLs at the Home (Ner the course of the year. We have seen a S￿nIfiCant increase in the number of residents being admitted with Continuing Heathcare funding reflecting their more complex medtsl or mental heath conditit>ns. Vrfhilst we ￿maIn under contract wth Powys County Council to operate Day Care provision on our premises sPe￿￿al￿ for those the eady symptoms of dementia. this remained closed due lo the cJntKiued to be updated n Ine ¥Ath gukdanco from the UK and Welsh Govemment which has placed a heavy burden cm the Hm Manager wilh increased workload inslde the home and demands from the statutory bcKlies outside. In additson. as visits resumed there has been the necessity to carry out lateral I￿)W tests on all visitors and record the results of these In addition lo weekty staff PCR tests. There have been a number of oulbreaks of Comd amongst both the staff and re5idenls necessitating periods of sell-isolation and restr￿ling of visiting. Just one rnember of staff remained on tho Job Retention Stheme whilst * waited for the decision regarding the luture of the Day Centre. A second bonus payment was awarded ty the Welsh Go¥emment to acKntral* the continuing hard boing undertaken by those working in the sockgl care sector. We have continued lo operale an excellent nursng home undw dmficult drcumstance8. and ￿ have received many letters and cards of gratitude. FINANCIAL REVIEW Financlal position The statement of Financial Activibe$ show a surplus for ts yèar of £132,490 {2021: dthit £39,060), and reserves now stand at £2,207.76312021: £2.075.273). Page 3 Beth*￿￿ 8helt•r•d Hou•lng A88oclatlon IRegl81ored numb•r. 033246341 Report of tho Trustsos the Year Ended 31 March 2022 FINANCIAL REVIEW Prlnclpal lundlng 8ourc&s Our primary source of income is the fees for provldlng nurslng home and Day Care $ervl¢es. Incorporated into the annual fee Irma8e$ was a weekty enhancemént specialty to offset the increase costs of vK)Tking durlng tho pandemic. Durin9 the year, additional funding was made available by Ihe Welsh Govemmenl to mitigale the additional costs involved in providing care during the pandemic as well as one-off payments to facilitate visiting by family and friend$. These have been administered by the local Counci58 and claimed retro$peclively. Additional Funded Nursing Care funding has also come from the Health Boards. Both Sour￿ of fundlng have tapered off towards the end of the 2021-22 financlal year and th&r& are no plans for these to continue Into 2022-23. InvoStm•nt pollcy and obJ•ctlv•8 Under the Memorandum and Articles ol Assoclatlon tho charity has the power to make any Inve8tmenL whlch the Irusiees ￿ fft. The tru$l8eS take serlousty their r88ponslbility to ensure that funds are not put at risk, but also seek to a¢hlev& the hlghest Interest posslblè where surplus fiJnd8 are in hand. Funds have been spread acro88 wkler financial inslitulions in order to take advantage of Government guarantees R•urv•8 pollcy Free reserves whtch equate to net current as88ts lexcludlng restricted funds) amount to £900,062 12021: £775,822). The bv&l of reseThes was 88t at 3 months operallng costs several year8 ago - th18 Currently 6quats8 to approximately £436,000, and we havo bo&n able lo mainlaln 8uffici&nt fund3 to meet this policy. FUTURE PLANS Specific plans for the comlng y88r includè.. Contlnulng vAth ro-dacorallng ol the publlc area8, Solar panels, . An open event to ￿lebrate the Queen's Plallnum Jubllee. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charlty Is controlled by ts governlng dc¢ument, a deed of trust, and ￿nStItuteS a limited company, limilad by guarante8, a5 defined by the Companies Act 2008. Page 4 forth• Y•ar End•d 31 Mar¢h 2022 STRUCTURE. GOVERNANCE AND AWIAGEhlENT Oryantsatlonal 8tructur• The charity runs a 40.bed Nursing Home and a specialist Day Centre for w) the earfter stages of dementia. Until 31 st December 2020 there Wds dso a tharity shop wthtch raised funds for the Nursing Home. This was sold in March 2021 and ts remaining fvnds in the shop account were transferred to the Home In July 2021. Tha day-ttrday running of Ihe Home including appointM￿t of staff aThJ ail matters ￿lating to the medical care of the residents is delegated to the Home Manager. Tr heads of nuNng units and the Day Centre as well as ancilLqry stsff reFQrt to the HcAne Manager. The Responsib￿ Individual is the person vtho bears respJnsilNlity for Ihe overall running of the Home and compliance with the Care S13ndards. He represents the Hom8 in relationships with axtèmal bodles. The Finance Manager Is responsible for the management 8nd recordkeeping ￿lating to the income and expenditure of the Home, the management of r￿ed assets and reserves as well as compliance wth company and charity law for the organisats'on. The Home Manager. Reswnsible Indiwdual and Finance Manager ￿port to the Trusteos at the regular managemMt meetirtrJs **)ich ha￿ contsnued to take pkn onlln• throughout the year. Bethshan 1$ a member of Care Forum WaleB repr￿ntS tho interests of th& care Industy at both county and nalonal (Wale81 thl, as *ell as Powys Assoclation of Voluntary Organlsatlons IPAVOI. Indu¢tlon and trnlnlng ol now tru•t No new trustees were appolnted during the year. Any new tru8te8s appointed would recewe ¢ople8 of th8 key d0￿ments relating to the charilys ¥4Drk including the goveming document, the kqtest annual report and accounts and guidance relating to their duts8 and resFthsibilth as a trustee. They would be requlred to Slgn a dedaraUon affirmiw thelr suitability to function as a tru$tee', a copy of the "Fit and Proper Person" form lor HMRC,. and to read and S￿n the charitys Conflict of Interest declaration. Trustees are infomied of approprlate tralning being offered and wovided by P(rffj Association of Voluntary Organlsations IPAVOI. R•lat•d partl The charfty has strong Ilnks wlth Hope Churth (Newtuwnl - a separate chanty - ¥vhlch had the wslon for th• Belhshan propcl and oversaw Its ¢￿strUction. The trustees of Bethshan are drawn winclpalty from the leadership of the church along ￿th other individuals with key sklls or kn￿￿edge. Pag• 5 Report of the TruBtee for the Year Ended 31 March 2022 STRUCTURE, GOVERNANCE AND MANAGEMEKr Rl8k management In common Similar ￿ganISatiOns. Bethshan has faced the assoc￿ the ￿gOIng Covid-19 pandemic. The Home Manager continued to take a caul*)us approach and has folbwed all guidelines to prolect the residents and staff team. Whilst we were Unab￿ to avomj a number of indmduals becoming infected with Coronavwus. no one became seriousty ill. Earfy in the year we had a number of vacant beds. but occupancy has ￿'cked up and we have managed to achieve over 90% occupancy for the year. We have received financial support from Ihe statutory agencies whth has compensaied for the under-occupancy and Increased costs of staffing and infectron control. The other major risks. as summarised In our rlsk reglster. rnmalned broadty the &Yne. there is Increased awareness of cyber security threats as wr dependence on IT Incr&tses. The approach to dsks laken by the truslees of Beth$han broadty follNs the C￿ty Commlsslon 8Ug98Sted categorisation i.e., Goveman¢e,' Operational.. Financial., External. arKI Compllance. The major risks faced by Bethshan are as follthvs: Health & Safety Thls covers a wpje range of Issues from the safe op8rakn.on of equipment wthin Ihe bulldin9, to the approprfate use of deanlng chemi￿1$. We also employ the services of a speaalisl con$ultan¢y lo as6iSt Nwth the management ot Health and Safety risks. They undertake 8 fvll audit of our poI￿leS and procedures each year and make suggests'ons lor improvement Issues raised by Stsff or others are addre8ged as thèy ari8e. Health of Resldents There are several risks associated with our rKimary ac¥¥lty . the care of our res*J8nts- for fjxample. I￿OrrO¢t adminlstrallon of medication. accidents. and abuse. We have a range of poliaes detaillng the correct procedures lo be used regarding most nomal aclr4ilies whKh slaff are requlred to folbw. These pollcles are reviewed annually and updated as necessary. When substantial changes have been made to policies stsff are requlred lo demonstrate Ihal they have familiarised themselv88 with the changes. Staff receive trainSng relating to manual handllng, Safeguardlng of Vulnerable Adu￿5. food hygiene, fire safety and first aid as required by CIW and other Issues are addressed through mentoring and Super￿S1On. Training has been dalivered online thi8 year via the Newcross Leamlng Partner for Life materiaL Al approprlate equipment and PPE are where necessary. Adequate compl8ment of tralned slaff There has been a general shortap of both nursing and care staff acr088 th8 sector and have been no excepuon. This has necessitated many staff. including the Home Mana9er, thing considerable amounts of overtime to meet the needs of the ￿$￿￿ents, in addition to increasing use of agency slaff. We have an excellent relationship wth our stsffing agenry and most slaff supplled are familkar faces who are well xquainted ￿ our residents and ways of￿)rking. Security Se¢urity Cove￿ several areas of (x)n￿rn in addition to the otNious issue of phyxal security from Intruders includlng risks lo the security of infonnation le.g.. personnel records. payroll infomiation, other financial recknrds, and residenvs notes). We have a comprehensive IT Policy and •r¢rim8 awareness has become Increasingiy high profile as cyber threats increase in INuenGy and sophistication. The use of Microsoft Office 365 with its dou&based file storage. abng With cloudthsed x¢oJnts and other business software has pnjved invaluable during the last two years. Finandal ethlhn Sh•tror￿ No￿1n9 A88ocikn IRe¥St￿ number. 03324634) Report of the Trustw8 forthe Year Ended 31 IAv¢h 2022 STRUCTURE. GOVERNANCE AND IAANAGEAIENT In additional to the physkal seoJrity of records. fina￿al risks also include fraud, Including unauthorised access to the online banking system in ajdibon to the vrablrty of the tr￿sInesS ari5ir4J because of loss of income. Loss of income may occur for several reasons including reduction in ststulory funding, shortage of clients, loss of reputath)n, or unfor8seon expendlture not covered by insurance. This year. lower than I￿rMal ocujpancy has resulted from the ￿$trICtionS plac&J on us by the pandemic but these have been largely offset by addiknonal funding channelled through Wdsh GovemmenL Monthly monitoring of income and expenditure against Imjdgel takes pbce to ensure that we ha￿ upto4ate awdreness of the financial position of the (KganisatK>n ar￿ reports are gNen to the trustees. Fraudulent use of business funds is ￿ldressed by comprehensive financial procedures which are r8vi8w8d annually to ensure thèy rernain rolevant to ￿rrent Conditions and cornrnunicated to approprlate staff members. Reputallon Some of the po8glbte risks to the re￿ta￿On of Bethshan have al￿adY been alluded to and fall under the followlng broad headlngs.. Health & Safety in¢¥JenVattidenL Employment Law issues. abuselnegligonco, other failure to ¢ompty with Carn Standards or other legi￿atiOn. t)epending on the nature ol the In¢tden( these could have a very damaging effect the business and rnust be taken very 5eriousty. We employ 8 finn of consultants to gulde us regarding Heatth & Safety and in connection employment18gislation wé employ another firni of consuttants to guide us thrwgh HR matters and ensure that our policles and procedures refiect changes in the law. Our attentbn to these f¥illcal matters has enabled Bethshan to havo excellent in8p8¢thM reports since ￿ opened In 2001. Compliance As menltsjned above, we use the 8ervKes of outskle corAullants to ensure complianc8 wlth Health and Safety and employment legi￿atson. Ext•rnal rlsk8 We have attempted lo idents'fy any potential risks that are out of our control as far a5 thelr ￿U888, weigh up their probability and make plans to reduce their negative effects. Such risks Inciude.. Power failure - to mlnimise the risk of being without pcywer for a wotracied perknd ha￿ a contract wlth company who wtll provide a backwup generator. Adverse weather- In addition to the possible toss of ptraEr, It can be a ¢haifenge to maintaln staff coverage. A list ￿ maintsined of stsff who live within walking dBtsnce of the home willing io be called at short nodce which Is updated each year. We have a committed team, and everyorn) pulls togeiher to ensure thai any staff shortage does r￿t impact ￿ the delivery of care to the ￿dents. Other major catastrophes- substantial daM￿e to the fabric of tho buihjing due lo gas or vAler leak or severe weather can be minimised by good regular maintenance and inspedion. Our insura1￿e covers us for more serious Incidents and includes business interruplKm. co￿d.19 . the risks presented by the gk)bal pandemic have been dcturnented elsewhere. PrC¢¢du￿ lor rlsk management within Bethshan Responsibility for risk management lies wilh the board of trusiees but on a day-to4ay basis this is delegated lo the senior management. Because of the pandemic the main risks We￿ not revIev￿d in detail this year a5 the focus ￿ds very much on managing the risk$ of Covid-19 infection. There have been monthty rnee￿ngS of the full board of trustees, continuing to take ￿ace by video Conferencing. Trustees have receNed monthly report5 of the effects of the pandemic on the residents and staff and the Home Manager has infomied tho Chaimian of any significant changes in between meetiiy ind￿ling &tK)n being taken to manage risks. Page 7 8ethslMn Shliered HouBing A•s￿la￿ IRoglst•r•d nunber. 03324634) forth• Ye•r Ended 31 2022 STATEMENT OF TRUSTEES. RESPONSIBILMES The tnjstses (who a￿ alx> the directors of Bethshan Sheltered Housing A$s￿latIOn for the purwses of company law) are responsible for preparing the Rep￿t of the Trustees and the financ&g1 statements in accordan￿ with applicable k3w and UnÈled lQngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿) i[￿udIng Financial RerAyb'rwJ Standard 102 Tr Financil Reporting Stsndard applicable in the UK and Republic of IrelaThf Company ￿ requlres the trustees to prepare financial Statem￿ for each finan(xal year vthich give a true and fair view of the state of affairs of the chatitable company and of the incoming resources and application of resources, including the income and expenditure. of the charitable CA)mpany for that peii&J. In sxeparing those financial statements. the tnjstees are required to select suilable a￿ullI1ng Fdicies and then appty them consistenty: obsefve the methods and prinCip￿S in the Charity SORP: rnake judgements and estimates that are reasonabk and pn￿nt prepare the financial statements on the wng concem basks unless it is inappropriate to presume that the charitsble company wll ¢onlinue In bus#iess. The trustees are responsible for keeping prw a¢o)unting records which disclose with reasonable accuracy at any time the financ4al wtK>n of the Char[tab￿ company and to enable them to ensure that the financial statements comply with the cornpan￿ Act 20(￿. They are also ￿pOnSIble for safeguarding the assets of the charitsble compary and ￿ertee for taking reasonab￿ steps for the tKevent*￿ and detection of fraud and other irregularities. In $0 far as the trustees are aware.. . there is no rdevanl audit infrymatM)n ofvthith ￿ charitable (x)mpatys auditcKs are ￿a￿are. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit Infomation and io establish that the auditors a￿ aware of that information. AUDITORS The auditors. Morgan Griffilhs LLP, wll be proposed for repappO￿lment at the f(YttKX)miThJ Annual General Meeting. Approved by order of the board of trustees 17 November 2022 signed on Its bahaw ty. <-7*7 Mr L Allen- Trustee Page 8 Roport of th• Ind•p•nd•nt Audltor8 to the T￿￿ ol Bothshan Sheltered Houslng AS8￿￿4110n Opinion We have audited the financial stalements 01 8ethshan Sheltered Housing As$o¢iation (the 'charitsbfe company,) for the year ended 31 March 2022 which compr1s8 tha Statement of Financial Actsvilies, the Balance Sheet, the Cash Flow Statement and notes to the flnanclal statements. including a summary of significant a¢￿U￿ting policies. The financial reporting framework that has been appli8d in their preparation Is applicable law and United Kingdom Accounting Standards (United Klngdom Generally Acc8pled Accountlng Practice), Including Financial Reporting Standard 102 'The Financial Reportlng Standard appllcable In the UK and Republic of Ireland,. In our oplnlon the financial statements.. give 8 true and falr vlew of the stale of tho charitable companls affairs as at 31 March 2022 and of Its Incoming re80urces and application of resources, Including Income and oxpendlture, for tha yaar then ended., have been properly prepared in accordance with United Kongdom Generally Accepted Accounting Practice, including Financial Reportlng Standard 102 The Financial Reporting Standard applicable In the UK and Republic of Ireland,: and have been prepared In accordance wlth the requiremènts of the Companies Act 20(X3. Ba818 for oplnlon We Gonducled our audll In aecordance wlth Intemattonal Standards on Audltlng IUKI IISAS IUKII and applirAble law. Our re8ponslbilllies under those standards are further described in tha Audltors. responsibilities for the audit of the finandal slalements section of our report. We are independent of the charftable company In ac¢ordan¢e wbth the ethical requlrements that ara relevafil to our audit of the financlal Statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We belleve that the audlt evidence we hav8 obtained 18 8ufficlènt and appropriate lo provide a basls for our opinion. Con¢lu•lon8 rol•tlng to golng ¢on¢•m In 8udllng the flnan¢Sal stalemenls, we have concluded that thè tru81•as' usa of the golng concem ba8ls of accounllng In the preparation of the flnancial statém8nt8 Is approprlate. Based on the work we havé p8rfom8d, have rnt Identlfled any materlal uncertainties relallng to events or condltlon8 that, Indlvldually or collectively, may rA$t signrficant doubt on the charitable company'$ abillty lo continue as a going concem for a perfod of at least ￿￿1¥& months from when the financial stslements are aulhorised for issue. Our rnspon8ibilitia8 and the fesponslbllltles ot the Iru8la88 wlth rn8p8Ct to golng concem are described in the relevant sections of this reporL othw Infom)atlon The trustees are responsible for the other Information. The other InformatSon comprfses the information included in th8 Annual Report, other than the financial Statements arKI our Report of the Independanl Audltors thereon. Our oplnlon on the ffinan¢ial statements d08s not cover the other Infomiatlon and, except to the exienl otherwise explicitly stated in our report, we do not express any fomi of assurance concluslon thereon. In connection with our audlt of the flnanclal statements, our re8pon8ibility is to read the other Information and, in dolng so, consider whether the other information Is materially inconsislenl with the financial statements or our knowledge obtained in the audit or otherwise appears to be m8terialty misstated. If we identify such material ir¢consistencie5 Qr apparent material ml$stslements, we are required to delemiine whether this glves rise lo a material misststement In the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, w• are required lo report that f8cL We have nothing to report In thi8 regard. Page 9 R•port of the IndependentAudltorn to th¢ Twstsos of Bethshan Sheltered H¢)using A88odatlon matte￿ on whlch we are required to report by exceptlon We have nothing to report in respect of the following matters where the Charities (A(xounts and Rep￿ts) Regulation5 2008 requlres us to report lo you if. in our opinion- the information given in the Report of the Trustees is InrA*nslstent Sn any materfal respect vllh the financial statemersls.. or the charitable company has not kept adequate accounting records. or the financial st*ements are not in agreement with the accounting records and retums., or we have not received all the infomation and explanations we require for our audiL Responslbllltles of trust••s As explained rnore fvlty in the Ststement of Trustees. Responsibilities, the twstees {who are also the directors of the Gharitable company for the purposes of ￿MpanY law) a￿ responsible for the P￿paratIon of the financial statements and for being satisfied that they give 8 true and fair view, and for suGh intemal control as the trustees deternine is necessary to enable the preparation of financial ststements thal a￿ free from material misstatemenL vthather due to fraud or error. In preparing the ffinancial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going COr￿ern. disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the trustees either intend to l*uldate the charitable company or to ￿se operations, or have no realistic alternative but to do so. Page 10 Report ofthe Indepgnd•ntAudltorn to the Tru8tw of Bethshan Sholtsrod Houslng A880cSatlon Our fosponslbllltlas for thg audit of the flnanclal 8tstements We have been appolntad as auditors under se￿lOn 144 of the Charities Act 2011 and report In ac¢ordanr with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtaln reasonable assurance about vthelher the finandal statements as a whole are free from material misstatement, whether due to fraud or error. and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a hlgh level of assurance, but is not a guarantee that an audit conducted in accordance wlth ISAS (UK) wlll always detect a matert81 mlsstslemenl when it exists. Misstalements can arise from fraud or error and are considered material If, Indivtdually or in the aggregate. they could reasonably be expected to InfluenrA the economlc declslons of users taken on the bas15 of these flnanclal statements. The exlent to which our procedures are capable of delectlng irregularitles, Includlng fraud Is detslled b810w'. Our approach to Identlfylng and assesslng tha rlsks of matedal misstatement in rospect of Irregularttles, includlng fraud and non-compliance with laws and r8gulatlons. was as follows.. 4he engag8m8nt partner ensured that the én9agemenl team colléctively had the appropr6ate competence, capabilitses and skllls to Identlfy or recognlse nonn form5 part of our Report of the Independent Audltors. Page 11 R•port of the Independent Audltors to tho Trustees of Bethghan Sheltsred Housing Agsoclatlon Use of our report This report is made solely to Ihe charitable company's trustees, as a body, In accordance with Part 4 of the Charities IA¢¢ounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charitable company's trustees those matters we are required to state to them in an auditors. report and for no other purpose. To the fvllest extent pemiitted by law, we do not a¢¢ept or assume responsibility lo anyone other than the charitable cornpany and the charitable wnpanys trustees as a body, for our audit work, for this repot(01 for the opinion3 we have formed. Morgan Grifftths LLP Chartered Accountants Stalulory Auditor Eligible to 8¢1 as an auditor In lerms of Sectk)n 1212 of tre Companle8 Act 2006 Cross Chambers 9 High SITe8t SY16 2NY 17 November 2022 Page 12 B•th$h#n she[tsr￿ H￿¥Ing Assoclatlon Statement of Finan¢i•l Actlvitles (Incorpordtlng an In￿me and Expendlture Account) forth• Y•ar Ended 31 March 2022 31.3.22 Total funds 31.3.21 Total funds Unrestricted fijnds Rastrtctad fttnds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 5,127 5,127 4,776 Charltable actlvltle8 Nursing Home Care 1,936,923 1,260 1,938.183 1.758,632 Other trading activities Investment income 22,241 4,719 2,562 2,562 Total 1,944.612 1,260 1.945.872 1.790,368 EXPENDITURE ON Raising funds 132 132 27,261 Charitable activities Nursing Homè Care 1,811,990 1.260 1,813,250 1,802,167 Total 1,812,122 1,813.382 1,829.428 NET INCOMei(EXPENDITURE) 132,490 132.490 139.060) RECONCILIATION OF FUNDS Total funds brought forward 2,075,273 2,075,273 2.114,333 TOTAL FUNDS CARRIED FORWARD 2,207.763 2,207,763 2,075,273 The note¥ part ofthese finarwl Statements Page 13 Bethshan Sh*ltsrnd Houslng A880¢1atlon IRogl¥tsred nurnber. 033246341 Balance She•t 31 March 2022 31.3.22 31.3.21 Noles FIXED ASSETS Tangible assets 14 1,307.701 1,299,451 CURRENT ASSETS Sto¢ks Debtors Cash al bank and In hand 15 16 144 72,924 735,441 59,557 870,285 929.842 808,509 CREDITORS Amounts falling due within one year 17 {29.780) (32,6871 NET CURRENT ASSETS 900.062 775,822 TOTAL ASSEfs LESS CURRENT LIABILITIES 2,207,763 2,075,273 NET ASSETS 2,207,763 2,075.273 FUNDS Unrestricted funds 19 2,207,763 2,075273 TOTAL FUNDS 2,207,763 2,075,273 The charitable ￿MpanY is entitled to exemption from 8udit under Section 477 of the Companles Act 2006 for the year ended 31 March 2022. The members have not depositsd notice, pursuant to Section 476 of the Companies Aci 2006 requirfng an audit of these financial statements. The trustees acknowledge their reswnsibilities for (al ensuring that the charitable company keeps accounting records that compty with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements ￿lch ylve a true and fair vithv of the slate of affairs of the charitsble company as at the end of each financial year and of its surplus or deficit for each financial year in accordance wilh the requirements of Sections 394 and 395 and which otherwise compty with the requirements of Ihe Companies Act 2006 relating to financl81 statements, so far as applicable lo the charitabie company. (bl These financial statements have been audtted under the requirements of Sedon 145 of the Charib'es Act 2011. Thè r￿te5 fomi part of these financlal statements Pago 14 Continued... B•th8han Sheltered Houslng A88oclaiion (R•gl•t•rnd nwnb•r: 03324634 Balance Sheet- contlnu•d 31 Mar¢h 2022 These financial statements have prePa￿d in accordance with th8 provislons appllcable to charitable companies subject to the sm811 companies regSme. The financial statements were approved by the Board of Trustees and aLrthorised for i88ue on 17 November 2022 and were Signed on its behalf by.. L Alen - Truste8 The notes forn part ofthose finandal statement8 Page 15 Bethghan Sheltsr•d Houaing A88oclallon Ca8h Flow Ststement for th• Year Ended 31 March 2022 31.3.22 31.3.21 Notes Cash flov￿ from operating activltles Cash generated from operations 205.970 27,402 Net Cash providad by 0￿ratIng actNfties 205,970 27.402 Cash flows from Inv•sting actlvftlos Purchase of tangible fixed assets Sale of tangible fixed assets Interest re￿iVed {73,888) {15,009) 142,363 4,719 2.562 Net cash {used inllprovided by investing activities (71.126) 132,073 Change In cash and cash ¢qulvalents In the reporting period Cash and cash equlvalènts at th• boginning of tho reporting perlod 134,844 159,475 735,441 575,966 Cash and cash equivalents at the end of the reportlng perfod 870,285 735,441 The not08 fomi part of these flnandal statements pa￿ 16 Notes to the Cash Flow Slatemènt for the Year Ended 31 PAar¢h 2022 RECONCIUATION OF NEf INCOMEIIEXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTMTIES 31.3.22 31.3.21 Net Incomel(expendltuvel forthe reporung period las per the ststément of Financial AGtivilles) Adlu8tment8 for. Dep￿ratiOn Charges Loss on disposal of fixed assets Interest receNed Decrease in stc¢ks Decreasellincrease) in debtors 132,490 {39,lJ60) 65,438 57.589 42,059 (4.7191 101 {29,422} 854 {2,5621 144 13.367 12,907) Net ¢08h provlded by operatlon8 205,970 27.402 ANALYSIS OF CHANGES IN NEf FUNDS At 1.4.21 Ca8h I1￿ At 31.3.22 Net cash Cash at bank and in hand 735.441 134,844 870.285 735.441 134,844 870,285 Total 735.441 134,844 870.285 The rths fLYm part oftho$0 finanoal slaternwts Page 17 Bgtshan Sh•ltsr•d Hou$lng A••o¢l•Uon Noto8 to the Flnanclal Statsments forth• Year End•d 31 Mar¢h 2022 ACCOUNTING POLICIES 80818 of proparlng the Ilnanclal statements The flnsncLg1 statements of the charitable company. whtch is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 1021 'Accounting and Reporting by Charities= Statement of Recommended PraGtice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applioble in the UK and Republic of Ireland IFRS 1021 leffectlve 1 January 2019),, Flnanclal Reportlng Standard 102 'The Financial Reporting Standard appllcable In the UK and Republic of Ireland, and the Companles Act 2006. Th8 financlal Slatemenls have been prepared under tho hl8tori¢81 cost conventlon. Incom• All incom•18 r8¢ogn188d in the Statamant of Financlal Actlvltles once the charfty ha8 entftlement to the funds, It Is probable that the Ino)me wlll be recelved and the amount can bg mea¥uRd ￿lIably. Expendllurn Llabilltie8 are recogniged as expenditure as SCA)n a8 there 18 a legal or constnJGtfve obligation committlng the charity to Ihat exp8nditure, il 18 probable that a transler of economSc benefits will b8 required in settlement and the amount of the obllgatlon can be measured reliably. Expendllure is accounted lor on an accruals basis and has been cla$slffied under headings that aggregate all cost related to the category. Where costs eannol be dlre¢tly attribLtled to particular headings they have been allocated to acliviU88 on a basi8 eon8i51enl wfth the use of resources. Gov•rnan¢• co8t• Govemance costs are those incurred In connection wllh the admlnlstrallon of the charfty and compllance wlth con8tllutional and 8talutory requlrements. Allo¢atlon and apportlonmont ol costs Suppjrt costs {excluding governance co8ts} have beon apportloned to thè actlvlty - Nursing Homè care, In full. Govèmance costs have been apportioned to aclivllles based on the apportlonment of salary costs. Tanglble flxed a888t8 Depreclatlon18 provided at the followlng annual rates In order to wrlle off each asset over its estlmated useful Ilfe. Freehold property Plant and machlnery Fixtures and fittings Computer equipment 2% on cost or valuatlon 15% on cost 15% on reducing balance 33% on cost and 15% on reduclng balance No depreciauon Is provlded on freehold land. Sto¢k¥ Stocks are valued al the lower of cost and net reallsable value, after maklng due allowance for obsolete and slow moving items. Items donated for resale or distribution, are not included in the financlal gtalement5 until they are sold or distributed. The trustee's believe that the Costs invofved in detem)ining the value of $loGk hehl for distribution woukl outsveigh the benefit to the users. Taxatlon The charity is exempt from corporation tax on its charftable activitlgs. Fund accountlng Unrèstricted funds can be used In accordance v￿th the Charitable obje¢tives at the disctstlon of the trustees. Page18 conilnued... Bethihan Sheltered Hou8lng A•8oclation Notes to the Flnanclal Statements- ¢ontlnued for the Year Ended 31 March 2022 ACCOUNTING POLICIES - conunuod Fund aecounling Restricted funds c8n onty be used for partiujlar restricted purposes within the objecls of the charity. Restrictions arise when specified by the donor or when funds are rassed for particuLqr restricted purposes. Further èxplanation of the nature and purpose of each fund is included in the notes to the financial statements. Pen81on c08ts and othar p08t-rotlremant ben￿lts The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable companls pension scheme are charged to the Statement of Financial Activities in the pèriod to which they relate. I)ONATIONS AND LEGACIES 31.3.22 31.3.21 Donations Gift aid 5,127 4,276 500 S,127 4,776 OTHER TRADING ACTivrriES 31.3.22 31.3.21 Shop income Granl income 2,096 20,145 22,241 INVESTMENT INCOME 31.3.22 31.3.21 Deposit account interest 2,562 4,719 Page 19 Djnlinued... Note• to the Flnancial Statements . continu•d for the Year Ended 31 IAarch 2022 INCOME FROM CHARITABLE ACTivmES 31.3.22 31.3.21 Fees ReceNable Day Centre Grants Nursing Home Care Nursing Home Care Nursing Home Care 1.716.186 1.576.323 6.464 175.845 222,017 1,938,183 1,758,632 Grants received, ￿cluded in the aiK)ve. *e as ft)kns: 31.3.22 31.3.21 HMRC CJRS grant Covid Hardship FurKling 50.516 125,329 220,757 222,017 175,845 RA181NG FUNDS Oth•r trndlng actlvltle• 31.3.22 31.3.21 Purchases staff costs Heat & Llght Telephone, p)stage and 8tationory Support costs 132 418 25,758 356 274 455 132 27.261 CHARITABLE ACTivrriE8 COSTS Supwt Costs IM• i>Ml$ ( rKJl• 8) note 9) Total$ Nursing Home Care 1.789.486 23,764 1.813,250 Mot•8 to the Flnanclal Statements. ¢ontlnu forthe Year Endgd 31 PAarGh 2022 DIRECT COSTS OF CHARrrABLE ACTivrriE8 31.3.22 31.3.21 staff costs Rates and water Insurance L￿ht and heat Sundries Catering services Incontinence supplles Clinical Wdste Medical suppli85 Recruitment ltraining Act5Vitles Repalrs & renewals Servlce contracts & Call ¢xts Laundry & deaning Day Centre expen￿$ Depreciation Loss on sale of assets 1.343,429 7,451 19,144 44,329 4.152 162,369 49,956 10,600 1,386 1,510 3.798 17,391 32.613 27,987 1,332,767 7,454 10,324 40.662 6,020 147,535 52,036 8.387 2.128 11.209 2,562 10.101 26.141 25,189 15 55,364 42,059 63,371 1,789,486 1,779.953 SUPPORT COSTS Govem8nc• Tot•ls Nurnlng Home Care 14.IJ07 9.757 23,764 Support costs, Included in the above, 88 folk￿. M•nag•ment 31.3.22 31.3.21 Tot81 Nur￿n9 Horne Caro Telephone Postage and statknery Advertislng subscript￿ns Motor. travel & other expenses Professional fees Bank charges & interest Dep￿CIatiOn of tangibkry assets 1,449 2.621 1.398 2.136 311 3.558 467 2.067 1.534 4,155 838 1,658 335 1,701 508 2,225 14.007 12,954 Page 21 ntinued... for thè Year Ended 31 Pknh 2022 SUPPORT COSTS- contlnued Governanc• costs 31.3.22 31.3.21 Total ti￿11¢9 Nursing Home Car• Wages Auditors. remuneration 6.757 3.000 6,715 3,000 9,757 9.715 10. NET INCOMEI{EXPENDITURE) Net inwmellexperKI￿Ur8Il8 Stated after ￿￿91￿{credib￿J).' 31.3.22 31.3.21 Auditorn, remunetatlon Depreciation - owned assets Defvt on dispjsal of fixed assets 3,000 65,438 3,￿0 57.589 42.059 11. TRUSTEES. REMUNERATION AND BENEFITS The remuneration pwd to Mr. R(y Tappln amounted to £6,757 (2021 £8,715) arKI b Included In governan￿ wages. TnMt•o*' oxp•nv• No trustee exp8nse8 were pald in thls year (2021 nil). 12. STAFF COSTS 31.3.22 31.3.21 Wages and salarie8 Sacral securfty costs Othèr pension costs 1.243,379 85,319 21.488 1,285.449 77,151 22,840 1,350,188 1,365,240 The average monthty number of empknye88 during the year was as fOlkr￿.. 31.3.22 31.3.21 Home Management Qualified Care Assistants Auxiliary Day Centre Charity shop 25 41 45 N¢Ae8 10 tr* Fonanelal SfatomeDts. contlnu•d for the Year Endod 31 Atsr¢h 2022 11 STAFF COSTS - contlnu•d The number of employees vthose empbyee berth (exduding emptyer pen$ts￿ costs) exceeded £60.000 was.. 31.3.22 31.3.21 £60.001- £70.000 The average number of emph)yees has be￿ catulat8d as full time equivalents. The charity considers ils key markggement Fwsonnd ￿1PriSe the senior management listed on page 1. The total emp￿Y7nenl beneffts induding employer wsK)n contribub'ons of the key management personnel for their managemenl roles for the year ended 31 March 2022 vRre £81,C68 {2021 £77.928}. Induded in the fyures is £2.205 (2021 £1.0￿) n Social Care Recognibon Payments. 13. COMPARATIVES FOR THE STATEMEKf OF FINANCIAL ACTIVMES Unrestricaed Restricaed fvn(l$ To fvnds INCOME AND ENDOWMENTS FROM Donations and legaoes 4,776 4,776 Charltable activities Nursing Home Care 1,728,261 30,371 1.758.632 Other trajing activities Investment incorne 12,096 4.719 10.145 22,241 4,719 Total 1.749.852 40,516 1,790,368 EXPENDITURE ON Raising fvnds 17,116 10.145 27.261 Charltabl¢ o¢lJvili Nursing Home Care 1.771.796 30.371 1,802,167 Total 1.788.912 40.516 1.829,428 NET INCOMEI(EXPENDrruRE) {39,060) (39,0601 RECONCILIATION OF FUNDS Total funds brought fop•Mrd 2.114.333 2,114,333 TOTAL FUNDS CARIUED FORWARD 2.075,273 2.075.273 Page r3 )ntMued... Bethshan 8helt•rnd H¢u8lng A88OCi8tlon Notss to the Flnanclal Statement8- contlnued for th• Year End•d 31 PAarch 2022 14. TANGIBLE FIXED ASSET8 FlxbJT8S Fraehold property Plant and machlnery Computer equlpmenl fittlngs To1811 COST At 1 April 2021 Ad¢Jition$ 1,752,538 79,148 19,153 92,856 53,897 19,964 838 1.944,506 73,688 At 31 March 2022 1,752,538 98,301 146,753 20,602 2.018,194 DEPRECIATION At 1 Aprll 2021 Charge for year 528,060 37,271 35.516 11.925 67,273 14,175 16,206 2,067 645,055 65,438 At 31 Ma￿h 2022 563,331 47,441 81,448 18,273 710,493 NET BOOK VALUE At 31 Mar¢h 2022 1,189,207 50.880 65.305 2,329 1,307,701 At 31 March 2021 1,226,478 43,632 25.583 3,758 1,299,451 Included in cost or valualon of land and buildingsls freehold land of £200,000 (2021- £200,000) whlch Is not depreclaled. 15. 8TOCK8 31.3.22 31.3.21 stocks 144 16. DEBTORS.. AMOUNT8 FALLING DUE WITHIN ONE YEAR 31.3.22 31.3.21 Trade debtors Other debtors 17,756 41,801 17,238 55,686 59,557 72.924 Page 24 ¢onJnued... forthe Y&ir Ended 31 2022 17. CREDrroRS: MIOUNTS FALUNG DUE VThIN ONE YEAR 31.3.22 31.3.21 Trade ueditors Acuuals arKI deferred income 26.780 3,000 27,194 5,493 29,780 32.687 18. ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.3.22 Tolal funds 31.3.21 Total funds Unrestrthd Reslri¢Aed fur Fixed assets Current assets Current liabilities 1.307.701 929.842 {29.780) 1,307.701 929,842 {29,7801 1.299,451 808,509 {32,6871 2,207.763 2,207,763 2.075,273 19. MOVEMENT IN FUNDS Net At 31.3.22 At 1.421 in funds Unrestrfct¢d fund8 General fvnd 2.075.273 132,4 2.207,763 TOTAL FUNDS 2.075.273 132,490 2.207,763 Net movement in fijnds. inchJded i) the above are as folkAVS: Jrces expended In funds UnrestrICt￿ funds General fund 1.944.612 11,812,122) 132,490 Restrfcted funds HMRC CJRS Grant {1.260) TOTAL FUNDS 1.945.872 (1.813.382) 132,490 P4• 25 conlinued... Beth8han Shaltered Houglng Assoclatlon Not¢s to th• Flnanclal Stat•ment8- contlnued for th• Y•ar Ended 31 March 2022 MOVEMENT IN FUNDS - ¢ontlnued Comp•ratlvw lor movement In fund8 Nel m¢Mmont In funds Al 31.3.21 Al 1.4.20 Unreslrlctod fund8 General fund 2,114,333 (39,CéO) 2,075,273 TOTAL FUNDS 2,114,333 (39,060) 2,075,273 Comparallve net movement In funds. Induded In the above are as follows.. Incoming re80urceB Resourrn8 expended Movern¢nl in fund• UTrrestrfcted fund• General fund 1,749,852 (1.788,9121 139.0601 Ra8trlct•d fund• HMRC CJRS Grant COVIO grants 50,518 110,000) {50,5181 10,000 40,516 140,5161 TOTAL FUNDS 1,790,368 {1,829,4281 139,0601 EMPLOYEE BENEFIT OBLIGATIONS During the year the charity made pension ¢ontrIbU￿On3 amounting to £21,48812021 £22,640). There were no amounts Outstandlng at the year 8nd. 21. RELATED PARTY DISCLOSURES During th18 year Hope Church (Ngwtownl provhjed chaplalncy 8ervlc8s amounting to £668 (2021 nll due lo COVID restriction}. No amounts were outstsndlng at the year end 12021 nil}. Hope Church (Newlownl has dir•ctorsftN8tse8 in common. During the year the charity paid remuneration to the spouses, of the following tru8tee's amounting lo £5.115 in toial12021'. £23,792).. Rev A L Hewitt (to 3110112021 only) Mr E T Coomber (to 3110112021 only) Mr R W Tappin Page 26 for tho Y￿r Endod 31 2022 31.3.22 31.3.21 INCOME AND ENDOWMENTS Donatlons and legacle• Donations Gift ald 5,127 4,276 500 5,127 4.776 Oth•r tradlrtg a¢tlv111•8 Shop income Grant income 2,096 20,145 22.241 Invulmont Incom• Oeposit account inleresl 4,719 Ch•rftabla actlvltlo• Fees Receivab Day Centre Grants 1,716.186 1,576,323 222,017 175.845 1,938,183 1,758,632 Total Incomlng r••ourc 1,945.872 1,790,368 EXPENDrruRE Other tradlng •ctlvltl•• Purchases Wage8 Heat & Lighl Telephone. postage and stsltonery 132 418 25,758 356 274 132 26.806 Charltabh •th111o• Wages Socwl securty Pensions Rates and water Insurance Llghl and heat Sundrv Catering seNiceg Incontinence supplies Clinlcal waste Medical $upplSes Carried forward 1.236.622 85.319 21.488 7.451 19.144 44,329 4,152 162,369 49,956 10,600 1,388 1.642.816 1,232,976 77,151 22,640 7,454 10,324 40,862 6,020 147,535 52.036 8,387 2,128 1,807,313 ThL8 poge does not fomi p*t ofthe 8tthrtory find￿81 statement8 Page 27 I)•￿Ied Ststement ol Fin•nclal Aclivitlos for the Year Endod 31 lknh 2022 31.3.22 31.3.21 Charilablo adivltl¢8 Brought ft)rward Recruitment nrainiftg Actiwties Repairs & renthvals SeNi¢e Contracts & Call ouls Laundry & cleaniThJ Day Centre expenses Depreciation of freehold pror Depreciation of plant and machinery Depreciation of fixtu￿ and ffttings Loss on sale of tangible fixed assets 1.642.816 1.510 3.798 17,391 32,613 27.987 1.607.313 11.209 2.562 10,101 26,141 25,189 15 42,944 5.254 7.166 42.059 37,271 11.925 14,175 1.789,486 1,779,953 Support costs Management Telephone Postage and stationery Advertising Subscriptions Motor, travel & other expenses Professional fees Bank charges & interest DepreLaation of computer equipment 1,449 2,621 1,398 2.136 311 3.558 467 2,067 1.534 4,155 838 1,658 335 1.701 508 2,225 14.007 12.954 G(womanc• costs Wages Auditors. remuneration 6.757 3,000 6,715 3.000 9.757 9,715 T¢)tsl resources expended 1.813,3W2 1,829,428 Nfrt incomg1(fjxpenditur•) 132,490 139.060)