REGISTERED COMPANY NUMBER: 03324634 (England and Wales) REGISTERED CHARITY NUMBER: 1064373 Report of the Trustees and Financial Statements for the Year Ended 31 March 2024 for ## Bethshan Sheltered Housing Association Morgan Griffiths LLP Chartered Accountants Statutory Auditor Cross Chambers 9 High Street Newtown Powys SY16 2NY Bethshan Shoftered Houslng Assockuon Contents of the Flnanclal Slatements forthe Year Ended 31 March 2024 Pa Reference and Admlnlstratlvo Detall8 Report of th• Trustees 2 to 8 Report of tho Independent Audltorn 9 to 12 Statsment ol Flnanclal Acfjvhjes 13 Balance Sheet 14 Cash Flow Statement 15 Not•s to th• Cash Flow Statemtht Nots8 to the Flnanclal Statwnents 17 to 25 Detalled Stat￿nant of Flnanclal Actlvltl 26 to 27 Bethshan Sheltarod Houslng Association Reference and Admlnlstrative Detalls for the Year Ended 31 March 2024 TRUSTEES Rev A L Hewitt Rev J D Smith L Allen M R Allport Rev D H Curgenven Rev S R Curgenven E T Coomber H Y Wenban REGISTERED OFFICE Heol Treowen Newtown Powys SY16 1JA REGISTERED COMPANY NUMBER 03324634 (England and Wales) REGISTERED CHARITY NUMBER 1064373 AUDITORS Morgan Grtffiths LLP Chart8r8d Accountants Statutory Audltor Cross Chambers 9 High Street Newtown Powys SY16 2NY SOLICITORS Geldards LLP Numb8r One Prfde Place Pride Park Dert)y DE24 8QR BANKERS Bank of Scotland PLC- Cardiff Barclays Bank PLC - Newlown INVESTME￿ ACCOUNTS Aldennore Bank M<)dulr Flnance Ltd SENIOR MANAGEMENT Mrs Rachel Grlffiths (Home Manager) Mr Leslle Allen {Reglstered Indlvlduall Mrs Deborah Cade (Finance Manager) Page 1 Bethshan Sheltwed Houslng Assodatton (Reglstered number. 03324634) Roport of the Trustees forthe Year Ended 31 March 2024 The trustees wha are also direclors of the tharity for the purposes of the Companies Act 2006, present their r8POrt with the finandal statements of the tharity for the year ended 31 March 2024. The truste8s have adopted the provisions of Accounting arKI Reporting by Charities: Statement of RecAynmended Practice applicable to tharities preparirvJ their accounts in acix)rdance with the Financial ReportiNJ Standard applicable in the UK and Republic of IrelarKI {FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTMTIES Oblectives and alrns We primarily 8XlSt to meet the needs of the populatlon of N8Wtown, PcMTrS, and the surrounding areas. The objects of the charity remain Ihe relief of povety, sKkness and old age, and Bethshan continues to fulfil these objects speafically by means of the provision of nursing home care frail elderly p8rsons as V￿11 8s th08e Ilvlng wtth more advanced foms of dementia. We have been able to provide care for sixty-five Individuals at the Home over the course of the year. We have seen a signlficant incxease in the number of resldents balng admitted with ContinuirvJ HeaMhcare funding refiecting Ihelr complex medlcal or mentsl health C{￿dItiOns. Publlc benefit The trustees have consldered the Charfty Commlsslon's 9￿￿81 guidance on public benefit and are satjsfled that the servlces that we promde are accessible to all who neeA them regardl8ss of thelr financlal resources. Our concem has always been to ensu￿ that good quallty care is available lo all, and this has been the motivation behind our continued engagement with Puwys Ccmjnty Council. Places are offered based on medlcal CA)ndltlon and tha same quallty of ser¥lc8 is provlded to all resldents r8gardl8ss of th8ir fundlng. We c￿tInUe to look for appropriate ways to exterKI the x¥)pe of what we do so that more people can b9nefii from our expertlse. Volunteern Vdunteers have been assisting at the weeldy thurth service providing musical ac(x)mpanlm8nt and helping residents to take part. The volunteer vtho provided us with IT support and advice has rK)w retired after 22 years of seNlc8 following the ccrfnpletion of a programme of upgrading the WI-FI and computer equipment as well as decoraiing a number of offices. He reSeard￿ a sultable IT support (￿MpanY - Flotek - to t8ka over the role and oversaw the translilon. Bethshan Sheftered Houslng Assoclatlon {Reglstarad number. 03324634) Report of the Trustees forthe Year Endad 31 March 2024 ACHIEVEMENT AND PERFORMANCE Charltable actlvltles Slnce the pandemlc we have, In common wlth many healthcare settlngs. found It a challenge to recNIt suffident Pemanent Healthcare Assistants to fully staff th8 Home and some k)ng-serving staff have left during the year for various reasons. Consequently, we have placed increasing reliance on several agencies for tempordry Staff at substantlal additional cost. In addition, one of our ￿SIdents was assessed as requiring 1-to-1 support during the dayiime, though this has been fully funded through the Health Board. We have managed to recnjlt soma n8w nurslng staff whlch has been beneflclal. Our aciivitles provlslon has expanded as a staff member retumed from sickness absence. We now have mults'.talented team who are organising a varfety of activities Includlng tiips out wherever posslble. Unfortunately, our Christmas entertainment was truncated b8cause of an outbreak of infection. The spiritual Input to th8 Home has gone from strength to strength as, on average, almost half of the residents have been attendlng the weekly servlces durlng 2023. The famlly of a fom18r resldent generously pald for Improvements to our garden, and V￿ held a garden paty In September to show off tha new layout and plantlng. A ¢omprehenslve prograrnme of refurblshment was commenced durfng the previous finandal year, and thls has rnade substsntl81 progress. To date we have seen ￿nty￿ne bedrooms completely refurblshed with new flooring, palntwork and fvmlture. Several other rooms have been partlally refurblshed. Our day rooms have been redeslgned vAth elegant new colour schemes and soft fumlshlngs. All fiJmlture has been completely replacAd employlng fabrlcs that coordlnate wlth Ihe new Gurtalns. Dlnlng tsbles have been re-lnstated to Improve the mealtime experience for our residents. The replacement of the large wlndows In the reception area and Bradbury Room has slgnlflcanuy Improved both areas and we hope to continue the refurt)Ishment with redecoration. Our halrdresslng salon is now open for business vAth the improved facilities In a sophlstic8ted setting, giving our resldents mora of an experience of being pampered. The redecoratjng and repU￿Ing of the office fadlltle8 has now been completed. We now have a dedlcated tralnlng roorn on the lower floor complete with large monltor for wdeos and other presentations. New equlpment purchased durfng the year has Induded bNo replacement hl-lo baths - both on the R8yner Vthtteley unit. replacement proflllng beds and ten new air mattresses. We have been preparlng for the changés in the regulatlons in Wales around waste dlsposal and recycllng. Thls has Involved wo￿ng out how to Implement the requlrements In a way that Is practlcal and workable In our ￿ttIng. There has bean partlcular 8ttentlon pald to our food offerfng and a new kltchen manager was appolnted who Ss maklng real progress in addresslng the needs and preferences of all residents. FINANCIAL REVIEW Flnanclal position The statement of Flnanclal Acllvltles show a deficlt for the year of £171,243 (2023: £183,034), and reseNes now stand at £1,853,486 (2023: £2,024,729). Prfnclpal fundlng sources The main sourc8 of fundlng for runnlng the nurslng hom8 is th8 f88 Incorne. Thls prlmarfly comes from the statutory sources - Powys County Councll and Povrys Teachlng Health Board. We also have a number of prfvate fee payers. In addltlon to the fees ft)r nursing home care we also ￿ceIve donations, usually in memory of fomier residents. some Gift Aid tax reclaimed, and Interest from our Investment accounts. Investment pollcy and objectlves Under the Memorandum and Articles of Associallon the charfty has the power to make any InvestmenL whlch the trustees see fit. The trustees tske sertously thelr responslblllty to ensure that funds are not wt at rlsk, but also seek to achleve the highest interest posslble wh8r8 Surplus funds are in hand. Funds have been spread across wlder financial institutlons In order to take advantage of Gov8mment guarantees Page 3 Bethshan Shaltared Housing Associatlon {R8glstsred number. 03324634) Report of the Trustees for the Year Ended 31 March 2024 FINANCIAL REVIEW Raserves pollcy Free resen4es whlch equate to net current assets (exdudlng restrtcted funds) amount to £459,787 (2023: £665.344). The level of reserves was set at 3 months operating costs s8veral years ago - this currently equates to approxlmately £620,000, however, we have been unable to maintain sufficient funds to meet this policy. Golng concem The assessment of tha tnJst88s Is that the charlty Is a golng concem, but there are materfal uncertalntles relatlng to Its abllity to continue as a golng concem. At current rates of reserves. expenditure and income the charfty rem8lns a golng concem for the current finandal year. able to contlnue Its core actlvltles In fuNllment of Its objectives. The charlty has no debts. We consider that we have adequate management infonnation to contlnue to enable good declslon rnaklng. Materfal uncertainties beyond the current financAal year indud8 that charity reserves no longer meet the current pollcy of 3 months expendlture, making the charlty vulnerable to any unexpected large CA)sts, and that increased recruitment and retantlon of necessary professlonal staff Is essentlal to avold unsustalnable agency costs. Negotlatlons wlth the maln commlssloners of our seNlce have resulied In a commltment on thelr part to Increase thelr fundlng rates and provlde short-temi l one off furKllng to provlde stability to the org8nisation if required whllst 8 financial Improvement plan is implemented, 80 trustees consider that sufficient cash flow Is seujrad for the continuation of the tharity actlvlties for 8t least the current financlal year. FUTURE PLANS Spedfic plans for the comlng year include: - Contlnulng to refurblsh bedroom as they become empty - RefjJrblshlng the kltchenette areas - ContSnulng to work wlth the catering company to Improve the food seNlce Updatlng the website. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charlty Is controlled by its goveming document, a deed of trust, and con8tJtutes a Ilmlted company, Ilmlted by guarantee, as defined by the Companies Act 2006. Organlsatlonal structurn The d)arity runs 8 40-bed Nurslng Horne. The specialSst Day Centre for th¢)se In the earlter *8ges of dementfa whlch dosed at the beginning of the Covid pandemlc has not rewopened. The daY-t(￿aY runnlng of the Home Includlng appoSntment of staff and all matters relating to Ihe medlcal care of the residents Is delegated to the Home Manager and Deputy Manager. The Deputy Manager, the heads of the two nursing units and ancillary staff report to the Home Manager. The Responslble Indivldual is the person who bears responslblllty for the over811 running of thé Home and compllance wlth the Car6 Standards. Ha repr8s8nts the Home In relatlonships wlth extamal bodies. The Financa Manager is responslble for the management and record keeping relating to the Income and expenditur6 of the Home, the management of fixed assets and reseN88 as well as compliance with company and charfty law for the organisation. The Home Manager, Responslble Indlvldual and Flnance Manager report to the Trustees at the regular management meetings, A Deputy Manager was appointed in October which has enabled us to facilltate face-to4ace training in key areas as well as regular supemsion of staff and sickness management. Her appointment also ensures that there Is a senior person on sit8 during the Home Managees annual leave. The Manager and Deputy have been working closely together to drive good practlce throughout the home. B8thshan Is a member of Care Forum Wales whlch represents the Interests of the care Industy at both county and nattonal (Wales) level, as well as Powys Assoclatlon of Voluntary Organisations (PAVO). P8ge 4 Bethshan Sheltered Houslng Assoclation (Reglstered number. 03324634) Report of the Truste•$ forthe Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Inductlon and tralnlng of new trustees No new trustees were appointed during the year. Any new trUSt￿S appointed would r8C£iV8 coples of the key documents relating to the charity's work including the goveming document, the latest annual report and accounts and guidance relating to their duties and responsibilities as a trustee. They would be required to sign a dedaration affirming their suitsbility to function as a trustee; a copy of the "Fit and Proper Person" form for HMRC. and to read and sign the ch8rity's thflict of Interest declaralion. Trustees are inforrned of approprfate tralnlng belng offered and Fthded by Powys Association of Voluntary Organisations (PAVO). Ralatad parties The charity has strong Ilnk8 with Hope Church (Newtown) - a separate charity - which had the v58ion for the Bethshan project and oversaw its construdlon. The trustees of Bethshan are drawn principally from the leadership of the church along with other individuals with key skilLs or knowledge. Page 5 Bethshan Sheltered HO￿Ing Associatson IReglstered number. 03324634) for the Yw Endèd 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management The malor rlsks are summarised in our risk register and remain broadly the same as In pre￿￿OuS year&, I1￿Ugh there Is Increased awaren￿￿ of cyber security threats as our depe[KIen￿ on IT increases. The approath to rfsks taken by the trustees of Bethshan broadly follows the Charfty CommlssSon S￿gested categorisation i.e., Governance; Operational; Financial. Extemal. and Cornpliance. The major rfsks faced by Bethshan are as f01h)￿. This coverd a V•ide rarvJe of issues the safe operation of equipment thrythin the building, to th8 appropriat8 US8 of cleaning th8micals. We employ the serwces of 8 specialist consultancy to asslst the management of Health and Safety rlsks. They undertake an audtl of our premises each year and make suggestlons for Improv8m6nt. Issues ralsed by staff or olhers are addressed as they arise. There are several rlsks assodated wth our ￿lMary - the care of our resId￿ts - for example, IncA)rrecl admlnlstratlon of medlcation, acodents, and a1x￿. We have a range of Fdldes detalllng the correct procedures to be used regardlng most normal activlties whith staff are requlred to fdlow. We subscrfbe to a pollcy database spedflc to the care sector and tdicies are made available to all staff vta a moblle phone app. Pollcles are updated a8 [￿essary and when substantjal thanges have been made lo policies staff are requlred to demonstrate that they have familiarised themsefves with the changes. Staff rec£ive training relating to manual handling, Safeguarding of Vutnerable A&lulis. food hygiene. fire safety and first ald as required by CIW and other issu8s are addressed through mentoring and supervision. Trainlng has been dellvered online Ihis year vla the N8wcx)ss Leamlng Pather f(Y Lrfe materfal. but we have provlded In-petEon tr8lnlng sesslons for key areas. All appr(Jprlate equlpment and PPE are WOVKled wher8 n8￿ry. There has been a general shortage of bolh nurslng and care stsff acn)ss the sector and w8 have b88n no exceptton. This has necessitsted staff, induding Ihe Home Manager and Deputy. wothlng addltlonal shffts to meet the needs of the resldents, In addition lo the use of agency staff. We have an excellent relatlonshlp wlth several staffing agencies and most stsff supplied are familiar faces who are V￿1[ acquainted wtth our residents and ways of V￿￿ing. S8()Jri Se()Jrfty covers s8ver81 areas of c4)ncem In addition to the obvlous1&8ue of physlcal secuiity intruders Includlng risks to the securlty of Infom1ati￿ (e.g., personnel records. payroll Infomiatlon, other financial records. and residenvs notes). We have a comprehensNe IT Policy and cybercrime awareness has become increasingly hlgh profile as cyter threats Increase in frequency and sophistication. The use of Mlcrosoft Office 365 with its doud4)ased file storage. along doud-based accounts and other buslness software has proved invaluable during the last tsvo years. We now have IT technical support 2417 from Flotek vtho also provide an email scannlng sep*ice isolates po￿lIa1 phlshlng emails and spam. In additional to the physical security of records. finanaal rlsks also include fraud, induding urk7Uthorfsed access to the online banking system in addition to the viability of business arising because of loss of income. Loss of income may occur for several reasons tndudiThJ reducthon in statulory fijndlng, shortage of dlents, loss of reputatlon. or unforeseen expenditure rx)t fAwered by insurdnce. Monthly M￿llOring of income and expendilure against budg8t tskes Fkn to ensure that VK have up-to4at8 awareness of the financial positicm of organisation aThl rep￿ts a￿ given to the trustees. Tha risk of fraudulent use of business funds is addressed by (xmyyehenpm financial kyocedures whlch are revlewed annually to ensure they remain relevant to ￿rrent condit10￿ and ￿)MMUnIcated to appropriate staff members. Bethshan Sheltered Houslng Assoclatlon {Reglstered numbèr. 03324634) Report of the Trusteès for the Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Some of the possible risks to the reFwtstion of Bethshan have already been alluded to and fall under the following broad headings: Héalth & Safety incidentlacaden( Employment Law issues, abuselnegligence, other failure to Gomply wth Care Standards or other legislation. Depending on the nature of the IncidenL these could have a very damaging effect on the business and must be taken very serlously. We employ a fim of consultants to guide us regarding Health & Safety and in connectlon V￿th employment legislation we employ another fjmi of consultants to guide us through HR matters. A subscription to the QCS policy database ensures that our policies and procedures are up to dat8 with CU￿ant legislation. Com Ilance As mentioned aljove. we use the seNices of outsid6 consultants to ensure compliance ￿ty1h Health and Safety and employment leg"Islatlon. Extemal risks We have attempted lo identify any potential rlsks that are out of our control as far as their causes are o)ncemed. weigh up their probability and make plans to redu￿ their negative effects. Such risks InclLKIe: P¢yNer failure - to minimise the risk of being Will￿Ut power for a protracted period we have a contract with company who will provide a baCk￿p generator. Adverse weather- in addition to the possible loss of power, tt can be a challenge to maintain staff coverage. A Ilst Is maintalned of staff who live within walking dlstance of the home wllling to be called at short notice which Is updated each year. We have a o)mmitted team, and everyone pulls together to ensure that any staff shortage does not impact on the delivery of care to the residents. Olher major catsstrophes - substantial damage to the fabric of the building due to gas or water leak or severe weather can be minimised by good regular maintenance and inspection. Our insurance covers us for more serious incidents and includes busin&8s intenuptlon. Procedure for rfsk management wlthln 8ethshan Responsibility for risk management Iles ultlmately with the board of trustees but on a day-to-day basis this is delegated to the senior managemenL The Home Manager, Responslble Individual and Finance Manager undertake an annual audit of risks to the organisation vthich is based broadly on the Charity Commission guidelines. Th8 main risks are reviewed, and any new risks identified are added to the register. Each risk is assessed for its likelihood of its occurrence and impact should the event occur. how the risk is managed {e.g. by ceasing the activity. specific action taken to minimlse the risk. passing on the risk to a third paty such as an Insurance company) and who Is responsible. The audit is evaluated by the trustees who may contrlbute or remove ￿rn$ as they feel necessary. Once the audit has been completed a Ilsl is drawn up of action that is required to address the risks that have been identified which may necessitste additional expenditure, provision of training, professional advice. or other action. This is presented to the Twstees for approval. Risks identified through the audit are communicated to relevant staff members along with detsils of the action to be takan to manage it. The senior staff meet periodically to discuss progress on the action plan and to add items to the register of risks as these arise. The risk assessment method is Itself reviewed from Ilme to time to ensure that it is most eff8CtIv8 for the size and nature of the organlsatlon. Regular reports are made to the trustees of any changes to the rtsks faced by the organisation and action being taken to manage those risks. STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also the directors of Bethshan Sheliered Housing Association for Ihe purposes of company law) are ￿Sponsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A￿pted Accounting Pradice) Induding FinancAal Reportlng Stsndard 102 Yhe Flnancial Reporting Standard appllcable In the UK and Republlc of Ireland.. Page 7 Bethshafj Shehered Houslng Assoclth IReglstered number. 03>24634) Rewt ofthe Trnstees forthe Year Ended 31 March 2024 STATEMENT OF TRUSTEES. RESPONSIBILMES - continued Company law requires the trustees to prepare financial slatements for each financial year ￿lch give a true and fair view of the state of affairs of ts tharitsble company and of ts incoming resources and application of resources, niduding the income and expenditure, of the charitsble company for that period. In preparing those financial statements, the trustees arè required to select sultable accounting polioaes and then apply them c4)nsistenty, obseD/e the methods and principles in Charity SORP: make judgements and eslimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriale to presume that the thariiable company will COntirll￿ in business. The trustees are reswjnsfole for keeplng prnper accounltng rec£Jrds whlch disdose wilh reasonabl8 accuracy at any time the financial posits{￿ of the tharttable company and to enable them to ensure that the financial ststements compty with the Companies Act 2006. They are also responsibEe for safeguarding the assets of the charitsble company and hen￿ tr tsking reasork3tle steps for the prevention and d&tection of fraud and other irregulaiities. In so far as the trustees are aware: there is no relevant audit infom)ation of vhud) the d)aritable canpanvs audit￿$ are unaware: and the trustees have taken all steps that tlw ought to have taken to make themsefves avrare of any relevant audit Infofmatton and to establish that th8 auditors are aware of that informatton. Approv8d by order of the board of trustees on 17 October 2024 and signed on its behaff by. L Atlen - Trustee Report of the Independent Audftors to the Members of Bethshan Sheltered Houslng Asso¢latlon Oplnlon We have audited the financial ststernents of Bethshan Sheltered Housing Association (the 'd)aritable compan51) for the year ended 31 March 2024 which comprise th8 Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financlal stat8m8nts. Indudlng a summary of slgntficant accountlng polidas. The financial reporung framework that has been applied in thelr prePara￿On is applicable law and United lfjngdom Accounllng Standards (Unlted Klngdom Generally Accepted Accounting Practice). Induding Financlal Reportlng Standard 102 The Financlal Rew)rtlng Standard applicable Sn the UK and Rapublic of Ireland,. In our oplnSon the financial stst8m8nts: glve a true and falr vlew of tha state of the charttable cornpanvs affalrs as at 31 March 2024 and of Its incoming resourc£s and application of resources, including its Sncome and expenditure, for the year then ended; have been properly prepared In 8co)rdance with United Kingdom Generally Accepted Accounting Prdctice, including Financial Reportlng Stsndard 102 The Financial Reporting Standard appllcable Sn the UK ar Republlc of Ire18nd" and have been prepared In accordance wlth the requlrements of the Companles Act 2006. Bas18 for oplnlon We conducted our audlt In accordance vAth Intematlonal Standards on AudltSng (UK) (ISAS (UK)) and applicable law. Our responslbilities under those standards are further described In the Auditors, responsibililles for the audit of the financlal statements section of our report. We are Independent of the ¢h8rltsble company In aCC￿rdanCe wlth the ethical requirements that are r818vant to our audlt of th8 financlal st8t8rn8nts In the UK, indudlng the FRC'S EthicAI Standard, and we have fulfilled our other ethical responslbllltles In accordance these requlrements. Wa b8lleve that the audlt evldence we have obtalned Is sufficlent and approptlate to provlde a basis for our oplnbon. Materlal uncertalnty related to golng concern We draw attentlon to the Financial Review sectlon of the Report of the Truste88, whlch Indlcates that material uncertainty exSsts that may cast significant doubt on the companYs ability to continue as a golng CA)ncem. Our oplnion Is not modlfted In respect of this matter. In audltlng th8 financl81 statements, Vle have conclLKl8d that the dlrector8' U8e of the golng concem b8sls of accountlng In the preparatlon of the fin8nG181 st8tem8nts Is approprlate. Our responsSbllltEes and the responsibilities of the dlrectors wlth respect to golng concem are descrlbed In the relevant sections of this report. Key audlt mattars Except for the Matter descrfbad in the M8teri81 uncertalnty related to golng con¢em sectlon, we have d8t8rmlned that there are no other kay audlt matters to be communlcated In our report. Other Inforniatlon The trustees are responsible for the other Infonnatlon. The other Infonnatlon comprises the Inforniatton Included In the Annual R8POrt, other than the financial statements and our Report of the Independent Audltors thereon. Our opinlon On the financial statements does not cover the other infomatton 8nd, except lo the exient otherwlse expllcitly st8t8d In our report, vft do not express any fom of assurance condusion thereon. In connectlon wlth our audit of the finandal ststements, our responslbllty Is to read the other infomatlon and, In dolng so. consider whether the other Information is materially inconsistent with the financlal statements or our knowledge obtained in the audit or othe￿ise appears to be materially misstated. If we identify such material inconslstencles or apparent material misstatements. we are required to detennine whether thls glves rise to a mat8rial misstatement In the financial statements themselves. If, based on the work we have perforned, we conclude that there is a material mlsstatemenl of this other infom18tSon, w8 ar8 requlred to report thal fact. We have nothing to report in thls regard. Page g Report of the Independent Audltors to the Members of 86thshan Sheltsred Houslng Assoclath)n Opinions on other mattors prescrlbed by the Companias Act 2006 In our opinlon, based on the work undertaken in the course of the audit: the infomiation given in the Report of th8 Trustees for financial year for whith the financial statemants are prepared is consistent with tha financ￿1 statements. and the Report of the Trustees has been prepared In ac(xJrdance wlth appllcable legal requSrements. Matt8r8 on whlch we are required to report by exceptlon In the light of the knowledge and understanding of the charitable company and its envlronment obtalned In the course of the audi( we have not identified material misstst8m8nts in th8 Report of the Trustees. W8 have nothing to report In respect of the followlng matters where the Companles Act 2006 requires us to raport to you tf, In our oplnlon: adequate accountlng records have not been kept or retums adequate ft)r our audlt have not been recelved from branches not vlslted by us: or the finandal statements are not in agreement viith the accounting records and reiums; or Certaln disdosures of trustees, rernuneraljon specified by law are not made. or have not recelved all tha information and explanalions we r8quire for our audit; or the trustees were not entitled to take advantage of the small companles 8x8mptlon from the r8qulr8ment to prepare 8 Strateglc Report or In preparlng the Report of the Trustees. Re8pon8lbllltle8 of trustees AS explalned more fully In th8 Statement of Trust88s' Responslbllltles, the trustees (who are also the dlrectors of the charltsble company for the purposes of company law) are responsible for ihe preparatlon of the finanoal statements and for being satisfied that they give a true and fair vlew, and for such Intemal control as the twstees detemlne Is necessary to enable the preparatSon of financial ststements that are free from materfal mlsstatement, whether due to fraud or error. In preparfng the financlal statements, the trustees are responslble for assesslng the charltsble company's ablllty to contlnue as a go5ng concem, dlscloslng, as appllc4ble, matters related to going cnncern and uslng the golng concem basss of accounting unless the trustees either Intend to Ilquldate the ¢harttable ¢ompany or to cease operatlons, or have no reallstic alternative but to do so. Page 10 Report of tha Indapondant Audltors to the Members of Bethshan Sheltered Houslng A550Giatlon Our respon81bllltles for the audlt of the financlal statemonts Our objectives are to obtain reasonable assurance about whether the fjnancial statements as a whde are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that indudes our oplnion. Reasonable assurance Is a high level of assurance. but Is not a guarantee that an audit conducted In accordance with ISAS (UK) will afways detect a material misstatement when It exlsts. Misstatements can aris8 from fraud or error and are consSdered mat8rial rf, individually or Sn the aggregate, they could reasonably be expected to Infiuence the economlc declslons of users taken on the basis of these financial statements. The exient to whlch our procedures are capable of detectlng Irregularities. Including fraud Is d8taSled below: Our approach to identifying and assessing the rrsk8 of rnaterlal misstatement in respect of irregularities, Induding fraud and non-compliance wlth laws and reguletions, was as follows: -the engagement partner ensured that the engagement team collectlvely had the appropriate competence, capabllltles and skills to identlfy or recognise non-compllance wlth applicable laws and regulations; -we Idenufied the laws and regulations appllcab18 to the char5tab18 company through dlscusslons wlth management, and from our knowledge and experience of the charfty sector, ve focused on specific lav￿ and regulatlons whith we considered may have a dlrect materlal effect on the financial ststem8nts or the op8rations of the charttable company. Induding relevant legislatlon such as the Companles Act 2006, taxatlon legislatlon, employment, envlronmental and health and safety leglsl8tlon' -we assessed the extent of compliance with the laws and regulatlons Identffied above through maklng enqulrles of management and Insp8¢Ung relevant correspondence. We a&8essed the susceptlblllty of the charitable CoMpan￿S finandal statements to material mlsstatement, Including obialning an understanding of how fraud mlght occur, by: -maklng enqulrfe$ of management as to where they considered there was susceptlbllty 10 fr8ud, theSr knowledge of actual, suspected and alleged fraud; -considerlng tha Intemal controls In place to mltlg8t8 rlsks of fraud and non•compllan¢8 wlth laws and regulatlons. To address the risk of fraud through management blas and ovenlde of controls, we: -perfomied analwical procedures to Identlfy any unusual or un8XP8Cted relatlonshlps: -reviewed nominal18dgers and tested journal entrles reptjrts to identify unusual transacilons; SS8ssed wh8th8r ludg8m8nts and assumptlons made In determlnlng the accountlng estlmat88 were Indlcatlv8 of potenfj81 blas. In response to the risk of IrregularftSes and non4ompllance wlth laws and regulatlons, V￿ deslgned prorAures whlch Included, but were not Ilmited to: -agreeing financial statement dlsclosures to underfylng supportlng documentation; -readlng the mlnutes of meetings of those charged with govemance; evSewlng correspondence wlth HMRC. There are inherent limltatlons Sn our audlt procedures descrfbed above. The more removed that laws and regulations are from finandal transactions, the less Ilkely It Is thal we would become aware of non-compllance. Auditing standards also Ilmlt the audit procedurés required to ident5fy rK)n-compllance wlth lavls and regulations to enquiry of th6 trustees and other management and the Inspection of regulatory and legal corresponden￿, If any. Material misstatements that arlse due lo fraud can be harder to detect than those that ari88 from error as they may involve deliberate concealment or collusion. A further descxiption of our responsibilities for the audlt of the financial statements is located on the Financial Reporting Coundl's webslte at ww.frc.org.uklaudltorsresponslbllltl8s. Thls des (183,034) RECONCILIATION OF FUNDS Total funds brought forward 2,024729 2,024,729 2,207,763 TOTAL FUNDS CARRIED FORWARD 1,853,486 1,853,486 2,024,729 Page 13 Bethshan Shohèred Houstng Assodallon (Reglstered n(ttnbar. 03324634) Balance Sheet 31 March 2024 31.3.24 31.3.23 FIXED ASSETS TaruJibl8 assets 14 1,393,699 1,359,385 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 15 16 232 51,358 694,926 150,064 417,632 568.036 746.516 CREDITORS Amounts falling due within one ye8r 17 (108,249) (81,172) NEf CURRENT ASSETS 459,787 TOTAL ASSEfs LESS CURRENT LIA81LITIES 1,853,486 2.024,729 NET ASSErs 1,853.486 2,024,729 FUNDS Unrestrlcted funds 19 1,853,486 2,024,729 TOTAL FUNDS 1,853,486 2,024,729 Thase flnandal ststements have been prepared in accordance wilh th8 provis*)ns applIcal￿8 to charflable compant88 subi8Ct to tha small companles reglff*. The financial statements ￿re approved by the Board of Trustees and authorised for issue on 17 October 2024 and were signed on its behalf ty. L Allen - Trustee Page 14 Bothshan Sholterad Houslng Aswiatson Cash Flow Stat￿￿nt for the Year Ended 31 March 2024 31.3.24 31.3.23 Notes Cash flows from operatlng actmtles Cash generated from operations (167.802) (55,416) Net Cash uséd in operaling actsvitses (167,802) (55.416) Cash flows from Investlng acllvltles Purchase of tangible fixed assets Interest received (118,531) 9,039 {124.882) 4,939 Nat eAsh uséd In Investlng activitles (109.492) {119,943) Change In cash and cash equlvalents In the reportlng perlod Cash and cash equSvalents at the beglnnlng of the rnportlng p•rfod (2TI.294) (175,359) 694,926 870,285 Cash and cash aqulvalents at the end of tho reportlng perfod 417,632 694,926 Pag8 15 Bethshan Shelteréd Houslng Associatlon Notes to the Cash Flow Statement for Ihe Year Ended 31 March 2024 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTMTIES 31.3.24 31.3.23 Net expendlture for the reportlng perlod (as per the Statement of Flnanclal Actlvltles) Adjustments for: Depreciation charges Interest received Increase in stocks (Increas8ydecr8ase in debtors Increase in creditors {171,243) (183,034) 84,217 (9,039) (108) {98,706) 27,077 73,199 (4,939) (232) 8,198 51,392 Net cash used in operations {167,802) (55,416) ANALYSIS OF CHANGES IN NEf FUNDS At 1.4.23 Cash flow At 31.324 Net cash Cash at bank and in hand 694,926 {277,294) 417.632 694.926 {277,294) 417,632 Total 694,926 {277.294) 417,632 The notes fom part of these financial ststements Page 16 Bethshan Shelternd Houslng Association Notes to the Flnandal Statements for the Year Ended 31 Mareh 2024 ACCOUNTING POLICIES Bas18 of preparlng the financlal statements The financial ststements of the charitsble company. ￿1)ich is a public benefft entity under FRS 102, have been prepared in a￿X)rdanCe %%ith the Chariiies SORP (FRS 102) 'AccDunting and Reporttng by Charities: Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance with the Financaal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effectlve 1 January 2019).. FinarKial Reporttng Standard 102 The Finanoal R8portSng StarKlard appllcable in the UK and RepublEc of Irelarrf arKJ tha C(xnpanles Act 2006. The finanoal statements hwle been prepared under the historKal cost conventlon. Income All income Is recognlsed in the Statement of Finandal Athfjtses once the charity has entltlement to the funds, it is probable that the income VAII be recelved and the amount csn be measured reliably. Expenditure Liabilities are recAJgnised as expendlbjre as soon as there Is a legal or construdiva obllgatlon commltting the charlty to that expenditure, it is probab￿ that a transfer of economic benefits wlll be raqulr8d In settlafftht and the amount of the obllgation be measurad rellably. Expendlture Is accA)unted for on an accruals basls and has been classified under headings that aggregate all cost related to the category. Where costs cannot be direcdy attributed to particular headings they have been allocated to activiljes on a basts conslstent the use of resources. Governance costs Govemance costs are ttK>se Incurred Sn connection wth the administratEon of the charity and compllance constibjfjonal and ststutory requlrements. Allocatlon and apportlonmonl of costs Support costs (exduding govemance costs) have been apportioned to the aclivity -' Nurslng Home care, in full. Govemance c4)sts have been app￿kned to advlues based on the apportlonment of salary costs. Tanglble flxed assets Depreciation Is provlded at the fdlowSng annual rates In order to ￿[te off each asset over Its estlmated useful lrfe. Freehold property Plant and machinery Fixtures and fittlngs Computer equlpment 2% on cost or valuation 15%￿ o)st 15% on r8dudng balance 33% on cost arKI 15% on reduclng balance No depredatSon Is w0v￿ed on freeh(Yd land. Stocks Stocks are valued at the lower of cost and nel reallsable value, after making due allowance for obsolete and slow moving items. Items donated for resale or distribukn. are rK)t induded in the financial statements untll they are sold or distributed. The tnJstee's believe that the (yjsts Involved in detemiinlng the value of stock held for dlstribuuon would uJtrNeigh the benefft to the users. Taxation The charity Is exempt frThn corporation lax C￿ its tharitabte acti¥11￿. Fund accounting Unrestricted funds be used in aCcOrdarK￿ the chariiable obie(*ves at the discretion of the trustees. Page 17 0)n1irn￿d... Bethshan Sheltered Houslng Assoclation Notes to the Flnanclal Statements - contlnued for the Year Ended 31 March 2024 ACCOUNTING POLICIES - continued Fund accounting Restricted funds can only be used for particular restricted purposes wlthin the objects of the charity. Restrictions arise when specifiecl by the don¢X or Mthen funds are raised for particular restricted purposes. Further explanation of the nature and purpos8 of each fund is inctuded in the notes to the fjnancial ststements. Pension costs and other post-retirement beneffts The charftsble company operates a defined contrlbutlon pension scheme. Contrlbutions payable to the charitable company's pension scheme are tharged to the Statement of Financial Activities in the period to which they relate. DONATIONS AND LEGACIES 31.3.24 31.3.23 Donations Glft ald 15,949 375 16,014 16.324 16,014 OTHER TRADING ACTIVITIES 31.3.24 31.3.23 Trdley shop Income 1,496 566 INVESTMENT INCOME 31.3.24 31.3.23 Deposlt account interest 9.039 4,939 INCOME FROM CHARITABLE ACTIVITIES 31.324 31.3.23 Activity Nursing Home Care Nursing Home Car8 Fees Recetvable Grants 2,383,074 1,926.629 95,947 2,383,074 2,022,576 Grants received. induded in the above. are as follows: 31.324 31.3.23 Covid Hardship Funding - SSP Welsh Assembly Govemment 15,327 80,509 95.836 Pago 18 continued... Bethshan Sheltered Houslng Assoclatlon Notss to the Flnan¢lal Ststements - contlnuod forthe Year Ended 31 March 2024 RAISING FUNDS Olher tradlng activltle3 31.3.24 31.3.23 Purchases 392 CHARITABLE AcnvmES COSTS Dlrect Cosls (se8 note 81 Support costs (see note 9) TotaL8 Nurslng Home Care 2,551.022 28,521 2,579,543 DIRECT COSTS OF CHARITABLE ACTIVITIES 31.3.24 31.3.23 Staff costs Rates arKI water Insurance LEght and heat Sundrfes Caterfng servlces Incontlnence supplles Cllnlcal wa8te Medlcal supplS8S Recruitment ltraining Actlvit5e8 RepaSrs & ren8w818 Servlce contracts & Call outs Laundry & cleaning Care Management subscription DepredaUon 1,9S4,820 8,753 16,264 33,844 7,386 224,680 47,258 12,286 3,735 6,909 5,195 19,805 75,493 40,067 13,503 81,044 1,661,527 8.436 16,734 38,268 9,024 188,171 48,725 10,638 3,667 11,541 4,719 23,003 69,577 35,489 5,552 69.424 2,551,022 2,204,495 Paga 19 itinuad... BethSh￿ Shekered Houslng Assoclation Notes to the Flnanclal StateTnents . conthiued forthe Year Ended 31 MarGh 2024 SUPPORT COSTS Totals Nursing Hoffe Care 18,099 10,422 28,521 Support (x)sts, induded in the above. are as folltYK: Management 31J24 Nursing 31.3.23 Totsl Te*hone Postage and stationery Advertising sUbs￿lptiOns Motor, travel & other expms Professional fees Bank charges & interest Depreciation of tsngible assets 1.882 4.023 1,082 2.090 937 1.932 3.981 1,690 1,107 507 i! 3,173 3,775 18.099 14,625 Governance costs 31.324 Nursing Hom8 Care 31.3.23 Total Wages Auditors. remuneration 7,422 3.000 4,617 3,000 10.422 7.617 10. NET INCOMEIFXPENDrruRE) Net incomel(expenditure) is stated after Charg1￿1(¢redl1ing). 31.324 31.3.23 Auditors, remunerdtion Depreciation . ￿ed assets 3.000 84,217 73,198 ca)ntinued... Bethshan Shettered Housing Assoclatlon Notss to the Flnanclal Statements - contlnued forthe Year Ended 31 March 2024 11. TRUSTEES. REMUNERATION AND BENEFITS The remuneration paid to Mr. L Allen for the year ended 31 st March 2024 amounted to £7,422 and is included in gov8manc8 vmges. The remuneration paid to Mr. Roy Tappin for the year ended 31 st March 2023 amounted to £11.094. In 2023 £4.617 was induded in g0Veman￿ wages. Mr Tappln ceased as a trustee on 2311112022. Trustees. expenses No trustee expenses were paid in the year (2023 one trustee £33). 12. STAFF COSTS 31.324 31.3.23 Wages and salaries Social security CA)sts Other pension costs 1,841,428 96,667 24,147 1,536,116 104.636 25.392 1,962,242 1,666,144 The average monthly number of employees during the year was as follov4ffj: 31.324 31.3.23 Horne Management Qualified Care Assistants Auxiliary 24 27 42 No employees received emoluments in excess of £60,000. The average number of employees has been calculated as full tlme equivalents. The charlty considers its key management personnel comprise the senior management listed on page 1. The total employment benefits induding employer p8nsion contiibutions of the key management personnel for their management roles for the year ended 31 March 2024 V￿re £97.401 (2023 £91,494). 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund8 Restricted funds Total funds INCOME AND ENDOWMENTS FROPII Donations and legacies 16,014 16,014 Charitable actlvltles Nursing Home Care 1,942,067 80,509 2.022,576 Other trading activities Investrment income 566 4,939 566 4,939 Total 1,963,586 80,509 2,044,095 Page 21 conllnued... Notes to the Flnanclal Statements- contlnued for the Year Ended 31 March 2024 13. COMPARATIVES FOR THE STATEMEKf OF FINANCIAL ACTIVMES - continued UNestr¥aed Restsicted funds funds Total funds EXPENDITURE ON Raising funds 392 392 Charftable activits Nursing Home Care 2,146,228 80,509 2,226,737 Total 2.146,620 80,509 2,227.129 NEf INCOMEIIEXPENDrruRE) (183.034) {183,034) RECONCILIATION OF FUNDS Total furKls brought forward 2,207,763 2,207,763 TOTAL FUNDS CARRIED FORWARD 2.024,729 2,024,729 14. TANGIBLE FIXED ASSErs FNtures and Computer equlpment property rnathinery Totats COST At 1 April 2023 Additions Disposals Reclasstfication 1,809.350 15A29 (182,411) 143.079 27.295 (27.560) (15.522) 164.837 71211 25.810 2,143,076 118.531 {224.341) (14,370) 15.522 At 31 March 2024 1,641368 127,292 251￿0 15.036 2,037,266 DEPRECIATION At 1 April 2023 Charge for year Eliminat8d on disposal Reclassificationltransf8r 600,Tn 38,865 (182.411) 64.205 18,828 (27,560) (480) 96,661 23,351 22,048 3,173 {14.370) 783.691 84,217 (224.341) At 31 Marth 2024 457231 120.492 10,851 NET BOOK VALUE At 31 March 2024 1,18&137 132,078 4,185 1,393.699 At 31 Marth 2023 1,208,573 78.874 68,176 3,762 1,359.385 Included in (x)st or valuation of land t￿Ikr]ng$ is freehokl land of £200,000 {2023 - £200.000) whlch is not dep￿lated. Bethshan Sheltered Houslng Assoclthn for thè Year End￿ 31 March 2024 15. STOCKS 31.324 31.3.23 Stocks 232 16. DEBTORS: AMOUNTS FALLING DUE wTfHIN ONE YEAR 31.324 31.3.23 Trade debtors Other debtors 81.757 68.307 46.456 4.902 150,064 51,358 17. CREDITORS: AMOUNTS FALLING DUE WTHIN ONE YEAR 31.3.24 31.3,23 Trade crédltors Other Creditors Acwals and defeffed Income 58,497 44089 60,531 20,641 108,249 81,172 18. ANALYSIS OF NEf ASSEfs BETWEEN FUNDS 31.324 TcAal fund8 31.3.23 Total fund8 fund8 fund8 F5xed assets Current assets Current liabilrtles 1.393.699 568.036 (108.249) 1.393,699 568,036 (108,249) 1,359,385 746,516 (81,172) 1,853,486 1,853,486 2,024,729 19. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 Al 1.423 Unrestrfcted funds General furKI 2.024.729 (171,243) 1.853.486 TOTAL FUNDS 2.024.729 (171.243) 1,853.486 Page 23 tinuad... Bethshan Sheltered Houslng Assoclatlon Notes to the Flnanclal Statements - contlnued for the Year Ended 31 March 2024 19. MOVEMENT IN FUNDS - conllnued Net movement in funds, induded in the above are as follows: En funds Unrestricted funds General fund 2.409,933 (2,581,176) (171,243) TOTAL FUNDS 2A09,933 (2.581,176) (171,243) Comparatives for movement in funds Net tt)vement in funds At 31.3.23 At 1.422 Unrestrlcted funds General furKJ 2,207.763 (183.034) 2.024.729 TOTAL FUNDS 2.207.763 (183.034) 2,024,729 Comparative net movement in funds. included in the above are as follows: Incomtng R8sourc8s Movernént In funds Unreslrfcted funds General furKI 1,963,586 (2.146.620) (183.034) Restricted funds Welsh Go)rt s￿￿al care worker grant (80.509) TOTAL FUNDS 2.044.095 (2,227,129) {183,034) Page 24 cx*ntinuod... Bethshan Sheltered Housing Assoclatlon Notes to the Flnandal Statements - contlnued forlhè Yaar Endad 31 March 2024 20. EMPLOYEE BENEFrr OBLIGATIONS Durfng the year the chaiity made pension contributions amounting to £24,147 (2023 £25,392). There Were no amunts outstanding at the year end. 21. RELATED PARTY DISCLOSURES During this year Hope Churth {Newtown) provided chaplaincy Se￿iCeS amounting to £1,307 (2023 £1,710). No amounts were outstanding at th8 year end (2023 nil). Hop8 Church (Newtown) has directorsltrustees in common. During ￿ 2023 year end Mr. M Cad8 was reimbursed for IT equipment purchased on behalf of the charity amounting to £1,287. Mr. M Cade Is the spouse of Mrs D Cade who is part of the senior management team. Page 25 Bethshan Sholtered Houslng Asso¢latlon t)etalled Slatsment of Flnandal Actlvltlos for th& Year Ended 31 March 2024 31.324 31.323 INCOME AND ENDOWMENTS Donatlon8 and legacles Donations Gift aid 15,949 375 16,014 11324 16,014 Other tradlng actlvltl•s Trolley shop income 1,496 566 Investment Income Deposit acojunt interesl 9,039 4,939 Charllable actfvllle8 Fees Recelvable Grants 2.383,074 1,926,629 95.947 2,383,074 2,022,576 Total Incomlng resources 2,409,933 2,044,095 EXPENDrfuRE Other tradlng aGtlvltles Purchases 1,633 392 Charltsble actlvftle8 Wages Soclal seojrfty Pensions Rates and water Insurance Llght armd heat Sundries Catering services Incontinence suppfies 1,834,006 96,667 24,147 753 16.264 1,531,499 104,636 25,392 8.436 16,734 38,268 9,024 188.171 48,725 7,386 224,680 47,258 L 11 Cllnical waste Medlcal supplles Recwitsnent nraining Activities Repairs & renewals Setvice contracts & Call outs Laundry & deaning Care Management subscription Depreciation of freehold property Depreciallon of plant and machinery Carried forward 11266 3,735 6,909 5,195 19.805 75,493 40,067 13,503 38.865 18,828 2.527.671 10,638 3,667 11,541 4.719 23.003 69,577 35,489 5,552 37,447 16,764 2.189.282 This page does not fcm part of the stabjtory finan(xal ststements Page 26 Bethshan Sheltered Housing Assoclatlon Detslled Statement of Flnanclal A￿￿1￿•S for tha Y￿r Ended 31 March 2024 31.3.24 31.3.23 Charitable activltles Brought fO￿ard Oepredation of fixtures and fith'ngs 2,527,671 23,351 2,189,282 15,213 2.551,022 2,204,495 Support costs Management Telephone Postage and stationery Advartising Subscriptions Motor. travel & other expenses Professional fees Bank charges & interest Depreciation of computer equipment 1,882 4,023 1,082 2,090 937 4,263 649 3,173 1,932 3,981 1.690 1,107 1,045 507 3,775 18,099 14,625 Governance costs Wages Auditors, remuneratlon 7A22 3,000 4.617 3,000 10,422 7.617 Total re8c￿￿teS expended 2,581,176 2,227,129 Net expenditure (171.243) (183,034) This page does not fo￿ part of the statutory finandal statements Page 27