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2023-12-31-accounts

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Charity registration number 1064810

Company registration number 03371617 (England and Wales)

PHILIP CUSSINS HOUSE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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PHILIP CUSSINS HOUSE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees F Fagleman
B Dinsdale
B Marcus
P Netts
D Gold
G Bernstone
S Ravenhall (Appointed 11 February
2024)
J Lewis (Appointed 11 February
2024)
Charity number 1064810
Company number 03371617
Registered office 33/35 Linden Road
Gosforth
Newcastle upon Tyne
NE3 4EY
Independent examiner Simon Brown BA ACA DChA
Azets Audit Services
Bulman House
Regent Centre
Gosforth
Newcastle Upon Tyne
NE3 3LS
Bankers Barclays Bank plc
53 Fawcett Street
Sunderland
SR1 1RS
Solicitors Tilly Bailey & Irvine LLP
12 Evolution
Wynyard Park
Wynyard
United Kingdom
TS22 5TB
Key Management Personell Mrs Lemon, Home Manager

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PHILIP CUSSINS HOUSE

CONTENTS

Page
report 1 - 3
Independent examiner's report 5
Statement of financial activities 6 - 7
Statement of financial position 8
Statement of cash flows 9
Notes to the financial statements 10 - 17

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PHILIP CUSSINS HOUSE

REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

F Fagleman B Dinsdale B Marcus P Netts C Lurie (Resigned 10 April 2023) D Gold G Bernstone S Ravenhall (Appointed 11 February 2024) J Lewis (Appointed 11 February 2024)

Structure, governance and management

Nature of governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of trustees

New trustees are sought as and when the trustees consider this necessary and appointments are made by agreement of the trustees.

Organisational structure

The day to day management of the care home is in the hands of a manager and an administrator. The trustees take an active interest in the day to day operations of the care home.

Objectives and activities

Objects and aims

The Charity's objective is to provide and maintain a residential care home for elderly members of the local Jewish community, and others, who are in need of care.

Fundraising disclosures

The charity is required to report how it deals with fundraising from the public. The charity does not use a professional fundraiser or commercial participator to raise funds. Any monies raised direct from the public follows all guidelines set out by the Charity Commission and UK law in every respect. We respect the privacy and contact preferences of all public donors.

Public benefit

The charity relies on the income from fees and charges to cover most of its operating costs. In setting the level of fees the trustees give due consideration to the need to ensure that the residential accomodation provided by Philip Cussins House is accessible to all members of the local Jewish community.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

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PHILIP CUSSINS HOUSE

REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance

2023 has been another busy year and although covid restrictions have been relaxed we are still required to be vigilant and follow procedures when a COVID outbreak occurs and thanks to the hard work and dedicated efforts of all our staff at Philip Cussins House have coped magnificently well with another demanding yet satisfying year.

A wonderful team of carers, cooks and domestics, lead most ably by manager Margaret Lemon assisted by her Deputy Manager Anne Henderson have all made a huge effort to ensure that all residents were kept happy and secure.

Thanks to Nicole Dumes who continues to look after the office and all administration work.

Thanks go to all the kitchen staff, led by Brian Pearson and the work of Susan Allan our House Manager.

We are grateful to Rabbi Lieberman, the Head of Gateshead Kashrus Authority for his tactful and sympathetic guidance which has ensured we could celebrate Pesach the Yom Tovim, other Jewish Festivals in a strictly kosher manner.

I am also indebted to our fabulous staff for the loving care that they give to our residents every day and night of the year.

Thanks to Debbie Ross who continues her wonderful work on the House Committee which includes just about every aspect of Philip Cussins House and is a huge asset to her fellow Directors and Trustees.

Thanks also to my fellow Trustees and our Board of Directors for their hard work and support and the house committee of Pamela Gold, Bernice Marcus, Barbara Netts and Debbie Ross who meet every week, working with Margaret Lemon and the staff to ensure that our residents lead a full and varied life.

We record our grateful thanks to the GP's and district nurses from the Grove Medical Group along with others in the NHS who have addressed the needs of our residents throughout the year.

We also report with sadness the passing in 2023 of Winifred Laidler, Charles Hastie and Joe Block. Joe Block was closely involved with Phillip Cussins House over many years giving his valuable expertise helping with the yearly budget and accounts.

We have now returned to our usual full diary of events, entertainment and outings with the staff creating a wonderful variety of regular minibus outings to local garden centres and country houses and to the coast for an ice cream on the promenade.

Indoors a busy schedule of numerous activities includes indoor exercises, karaoke, pizza evenings, bingo, birthday celebrations with entertainers and singers, just a visit to our new updated website will show you the full diary of events.

Once again, our wonderful staff will work together to create a friendly, happy, loving atmosphere keeping Philip Cussins House one of the most highly rated care homes in the area.

Financial review

Our operating deficit for the year was £27,852 (2022: £54,989) in a year in which we have reduced our value of investments, converting the investment to cash. The deficit £17,102 (2022: £75,943) also includes a revaluation gain of £10,750 (2022: revaluation loss of £20,954). Liquid reserves remain substantial which will ensure the continued running of one of the best care homes in the North East.

Going concern

The charity’s forecasts and projections for the next twelve months show that the charity should be able to continue in operational existence for that period, taking into account reasonable possible changes in trading performance.The charity has strong positive cash and investment balances and is forecasting for this to continue to be the case. The trustees have stress tested their forecasts, taking into account various scenarios, and remain confident that the uncertainties do not cast significant doubt on the company’s ability to continue as a going concern.

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PHILIP CUSSINS HOUSE

REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Policy on reserves

The calculation of free reserves is based on the definition included in the charity statement of recommended practice (SORP), which provides recommendations for accounting and reporting for charities. The trustees have examined the requirements of the charity to hold free reserves - those reserves not invested in tangible fixed assets, excluding long term liabilities, or designated for a particular purpose. The Trustees considered it would be appropriate to hold the equivalent of 12 months running costs, which would equate to holding approximately £760,000-£790,000 in free reserves.

At the year end, free reserves including amounts held in fixed asset investments were £473,991 (2022: £502,728), a decrease of £28,737 in the year.

Investment policy and objectives

The trustees have considered the most appropriate policy for investing funds and have found that holding a portfolio of lower risk investments managed by Barclays Wealth to be most suitable.

Key Management Personnel

The board, who give their time freely and have received no remuneration in the year, have considered who are the Key Management Personnel (KMP) of the charity, as noted in the Reference and Administration section. Together with the board, these KMP are those in charge of directing and controlling, running and operating the activities of the charity on a day to day basis. The pay of the KMP is reviewed annually and normally increased in accordance with average earnings. The trustees benchmark against pay levels of other charities and similar organisations within the sector and the region. Pay levels are set using this information together with the budget and forecast information, ensuring that the charity can afford any proposed increases. The board then agree any uplift to remuneration.

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PHILIP CUSSINS HOUSE

STATEMENT OF RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees, who are also the directors of Philip Cussins House for the purpose of company law, are responsible for preparing the Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

By order of the Board of Trustees

Frank Fagleman 26 Sep 2024 19:11:47 BST (UTC +1) .............................. F Fagleman

Trustee

26/09/2024 Date: ...........................................

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PHILIP CUSSINS HOUSE

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PHILIP CUSSINS HOUSE

I report to the trustees on my examination of the financial statements of Philip Cussins House (the charity) for the year ended 31 December 2023.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Simon Brown 27 Sep 2024 06:38:28 BST (UTC +1)

Simon Brown BA ACA DChA

Azets Audit Services Bulman House Regent Centre Gosforth Newcastle Upon Tyne NE3 3LS

27/09/2024 Dated: .........................

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PHILIP CUSSINS HOUSE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Current financial year

Unrestricted
funds
2023
Notes
£
Income from:
Donations and legacies
3
13,231
Charitable activities
4
946,063
Investments
5
10,326
Total income
969,620
Expenditure on:
Charitable activities
6
997,472
Net gains/(losses) on investments
10
10,750
Net movement in funds
(17,102)
Fund balances at 1 January 2023
1,509,310
Fund balances at 31 December 2023
1,492,208		 Total
2022
£
14,070
826,769
9,458
850,297
905,286
(20,954)
(75,943)
1,585,253
1,509,310

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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PHILIP CUSSINS HOUSE

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Prior financial year

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income from:
Donations and legacies
3
14,070
-
Charitable activities
4
826,769
-
Investments
5
9,458
-
Total income
850,297
-
Expenditure on:
Charitable activities
6
905,286
-
Net gains/(losses) on investments
10
(20,954)
-
Gross transfers between funds
2,610
(2,610)
Net movement in funds
(73,333)
(2,610)
Fund balances at 1 January 2022
1,582,643
2,610
Fund balances at 31 December 2022
1,509,310
-		 Total
2022
£
14,070
826,769
9,458
850,297
905,286
(20,954)
-
(75,943)
1,585,253
1,509,310

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PHILIP CUSSINS HOUSE

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 12 1,018,217 1,006,582
Investments 13 189,151 202,099
1,207,368 1,208,681
Current assets
Debtors 14 120,846 271,564
Cash at bank and in hand 195,719 51,970
316,565 323,534
Creditors: amounts falling due within
one year 15 (31,725) (22,905)
Net current assets 284,840 300,629
Total assets less current liabilities 1,492,208 1,509,310
Income funds
Unrestricted funds 1,492,208 1,509,310
1,492,208 1,509,310

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

26/09/2024

The financial statements were approved by the Trustees on .........................

..............................Frank Fagleman 26 Sep 2024 19:11:47 BST (UTC +1) F Fagleman

Trustee

Company registration number 03371617

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PHILIP CUSSINS HOUSE

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
Investing activities
Purchase of tangible fixed assets
Purchase of investments
Sale of investments
Investment income received
Net cash generated from investing
activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
(20,328)
-
23,670
10,326		 £
130,081
13,668
-
143,749
51,970
195,719		 2022
£
£
(210,697)
(1,148)
(17,148)
227,200
9,458
218,362
-
7,665
44,305
51,970

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PHILIP CUSSINS HOUSE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

Philip Cussins House is a private company limited by guarantee incorporated in England and Wales. The registered office is 33/35 Linden Road, Gosforth, Newcastle upon Tyne, NE3 4EY.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modifided to include the revaluation of investments. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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PHILIP CUSSINS HOUSE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold Property Straight line over expected life Fixtures, Fittings and Computer Equipment 50% and 20% straight line Sephar Torah Nil rate

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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PHILIP CUSSINS HOUSE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant estimates.

3 Donations and legacies

**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Donations and gifts 5,834 14,070
Legacies receivable 3,777 -
Grants receivable 3,620 -
13,231 14,070

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PHILIP CUSSINS HOUSE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

4 Charitable activities

Care home
Care home
room fees
room fees
and daycare and daycare
2023 2022
£ £
Rental income 946,063 826,769

Care home room fees are unrestricted income.

5 Investments

**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Other investment income 9,282 6,458
Interest receivable 1,044 3,000
10,326 9,458

6 Charitable activities

Care home
Care home
room fees
room fees
and daycare and daycare
2023 2022
£ £
Staff costs 613,211 564,823
Care home room fees and daycare 357,282 314,808
970,493 879,631
Share of support costs 6,315 7,072
Share of governance costs 20,664 18,583
997,472 905,286

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PHILIP CUSSINS HOUSE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

7
Support costs
Telephone
Printing, stationary,
postage and advertising
Bank charges
Subscriptions and
memberships
Accountancy
Legal and professional
Other governance costs
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
4,549
-
-
-
1,611
-
155
-
-
4,050
-
3,208
-
13,406
6,315
20,664
6,315
20,664		 2023
£
4,549
-
1,611
155
4,050
3,208
13,406
26,979
26,979		 Support
costs
Governance
costs
£
£
1,242
-
1,908
-
3,558
-
364
-
-
3,750
-
249
-
14,584
7,072
18,583
7,072
18,583		 2022
£
1,242
1,908
3,558
364
3,750
249
14,584
25,655
25,655

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Employees

The average monthly number of employees during the year was:

Staff total
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
29
2023
£
569,577
36,397
7,237
613,211		 2022
Number
29
2022
£
524,736
33,464
6,623
564,823

There were no employees whose annual remuneration was more than £60,000.

The total employee benefits of the key management personnel of the charity were £35,795 (2022: £32,734).

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PHILIP CUSSINS HOUSE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

10 Net gains/(losses) on investments

**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Revaluation of investments 10,710 (20,954)
Gain/(loss) on sale of investments 40 -
10,750 (20,954)

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

12 Tangible fixed assets

Cost
At 1 January 2023
Additions
At 31 December 2023
Depreciation and impairment
At 1 January 2023
Depreciation charged in the year
At 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022		 Freehold
Property
Fixtures,
Fittings and
Computer
Equipment
Sephar Torah
£
£
£
993,763
207,698
3,000
-
20,328
-
993,763
228,026
3,000
-
197,879
-
-
8,693
-
-
206,572
-
993,763
21,454
3,000
993,763
9,819
3,000		 Total
£
1,204,461
20,328
1,224,789
197,879
8,693
206,572
1,018,217
1,006,582

The trustees have considered the value of the Freehold Property above as at the year end and have concluded that the value of these would not be lower than £993,763 They have therefore decided not to depreciate the asset.

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PHILIP CUSSINS HOUSE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

13 Fixed asset investments

Listed
investments
Cash in
portfolio
£
Cost or valuation
At 1 January 2023
178,542
23,557
Valuation changes
10,722
-
Disposals
(203)
(23,467)
At 31 December 2023
189,061
90
Carrying amount
At 31 December 2023
189,061
90
At 31 December 2022
178,542
23,557
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
2,782
Other debtors
102,906
Prepayments and accrued income
15,158
120,846
Creditors: amounts falling due within one year
2023
£
Other taxation and social security
7,953
Trade creditors
13,724
Other creditors
4,804
Accruals and deferred income
5,244
31,725		 Total
£
202,099
10,722
(23,670)
189,151
189,151
202,099
2022
£
160,126
108,438
3,000
271,564
2022
£
10,611
7,126
-
5,168
22,905

14 Debtors

15 Creditors: amounts falling due within one year

VirtualSignature Transaction Ref. FRLX-Z6SP-5C6B 27 Sep 2024 06:38:29 BST (UTC +1) D 1/2 P 20/20

PHILIP CUSSINS HOUSE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

16 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £7,237 (2022 - £6,623).

Contributions totalling £663 (2022 - £1,373) were payable to the scheme at the end of the year and are included in creditors.

17 Analysis of net assets between funds

Unrestricted
funds
Unrestricted
funds
2023
2022
£
£
Fund balances at 31 December 2023 are represented by:
Tangible assets
1,018,217
1,006,582
Investments
189,151
202,099
Current assets/(liabilities)
284,840
300,629
1,492,208
1,509,310		 Total
2022
£
1,006,582
202,099
300,629
1,509,310

18 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).