Charlty reglslratlon number 1064810 Company reglstratlon number 033716171England and Wales) PHILIP CUSSINS HOUSE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
PHILIP CUSSINS HOUSE LEGAL AND ADMINISTRATIVE INFORMATION Trustees F Fagleman B Dinsdale P Netts D Gold G Bemstono S Ravenhall (Appoint 1 Soptembgr 2024) (Appoint 1 Septembor 2024) J Lewis Charlty number 1064810 Company number 03371617 Reglstered offlce 33135 Linden Road Gosforth Newcastlo upon Tyno NE3 4EY Independent examlner Simon Brown BAACA DChA Azets Audit SeNices Bulman House Repnt Contr8 Gosforth Newcastlè Upon Tyn NE3 3LS Banker5 Barclays Bank ple 53 Fawc8tt Street Sunderland SR1 IRS Sollcltors Mincoffs Solicitors LLP 5 Osbome Terraco Je5mond N•wcastle upon Tyno Tyno & Wear NE2 1SQ Key Management Personell Mrs LemDn. Home Manager
PHILIP CUSSINS HOUSE CONTENTS Page report Independent ex8minèrf$ réport Statemwt of financial activities Statement of financial position ststement of cash fl¢)ws Notes to the financial statements 9-16
PHILIP CUSSINS HOUSE REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial statements for the year ended 31 Dacomber 2024. Tho trustees, who are also th8 directors lor the puTprx of mmpany law. and who served during the year and up to the dato of signature of the financial statsments w•r8: F Fagloman B Dinsdale B Marcus P Nètts D Gold G Bemstono S Ravenhall J Lewis C E LuTi8 (Resigned 5 January 2025) (Appointed 1 Septembèr 2024) (Appointed 1 Septsmbor 2024) (Resigned 10 April 2024) struclL•re, governance and management Nature of governlng document The charity is controlled by its govèming d¢xument, a deed of trust, and constitutes a limilod company, limited by guarantee, as dofin8d by the Companies Act 2006. Recrultment and appolntment of trustees New trustees aro sought as and when the trusteos considgr this necessary and appointments are made by agreement of the tru5teos. Organlsatlonal structure The day to day managèmant of th8 care homo is in the harrfls of a manager and an administrator. The tru5tep5 take an active interest in the day to day operations of the care 1Me. Ob*ctlves and actlvlties Obfvcts and alms Tho Charivs obj'ective is to provid9 and maintain a residential care home for elderty members of the local Jowish community, and others, who are in ne&d of caro. Fundralslng dlsclosures The charty is required to report how it doal$ with fundraising from the public. The charity does not use profossional 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 re$tt. We reswct tho privacy and contact preforonces of all public donorg. Publ1¢ benefit The charty ralies on the income from fees and charg&s to covor mo$t of its operating costs. In setting the18vel of feés the trustèès givé due consideration to tho nood to ensure that tho residential accomodation provided by Philip Cussin$ House is aessible to all members of the local Jewish community. The trustees confimi that thoy h&v9 complied wFih the requirements of section 17 of the Charrties Aet 2011 to havè due regard to the public benefit guidance published by the Charty Commission for England and Wales.
PHILIP CUSSINS HOUSE REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and performance 2024 has been another busy yèar and thanks to thè hard work and dedicated efforts of all our staff, Philip Cussins House has coped magnrficently well wlh another demanding yet satisfying year. Our wonderful team of carers, cooks and domestics led most ably by managèr Margaret Lèmon assistèd by her d•puty manager Anne Honderson 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 thè offKa and administration wo. Thanks go to all tho krtchen staff led by Brian Pearson and tho work of Susan A]len our House Manager. We are grateful to Rabbi Lieberman, tha head of GatKhoad Kashrus Authority for his guidance throughout the year. I'm also Indebt to our f8bulous staff for the kjve arKI care that they give to our residents ev8ry day and night of the Thanks also to my follow Truste85 orb our board for thoir hard work and support and the Hous8 Committee. Pamola Gold Bemice Mareus, Barbara Netts and Debbiè Ross. Wa record our grateful thanks to the GP'S and district nur895 from the Grove Medical Group along vrith others in the NHS who wer6 addressad tha needs of our residents throughout the y98r. W? also report with sadness tho passing in 2024 of residents Jung Woolman, Ezra Altman, Jane Shemian Sylvia Couriel and Shiday Wood who was with us for respite care. We again sincerely thank the House Committee, meeting every week, they wort( wrth Margarot Lemon and the staff to ensure that our resrd8nts18ad a full and vard life. We have a full diary of events, entertainment and outings with staff creating a wonderful varioty of regular rninibus oulings to local garden centros and county houses and to the coast for an ice cream on the promenade. Indoors a prètty busy sch•dule of numerous activitios induding indoor exerciso, karaoke, pizza evenings, bingo, birthday ¢elebration5 With entertainers and singers, just a visit to our new updated website will show you the full diary of events. Oft again, our wondèrful staff worked together to create a frierKlly. happy. loving atmosphere keeping Philip Cussins House one ol the most highly roted Care homes in the area. Flntnclal revlew Our deficit for the year was £157,338 (2023: £117,102> in a year in {th we have reduced our value of investments, converting tho investment to cash. Liquid reserves rgmain substonlial at £219,779 which will ensure the continued running of one of the best caro homos in tho North East. Golng concern Th8 charity's forecasts and projections for the next e1ve months show that the charity should be able to continue in operational oxistonce for that poriod. taking into account reasonabl8 possible changas in trading perfomwnce.Tho charity has strong positive cash and investment balances and is forecasting for this to continue to bg the case. Tho Irustees have stress tested their forecasts, taking into account various scenarios, and rema eonfident that the uncertainties do not cast significant doubt on the companls abilty to continue as a going oncem.
PHILIP CUSSINS HOUSE REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Pollcy on reserves The calculation of free rasarves is based on tho definition induded in the charity 5tstement of recomrnended practice (SORP), whith provides recommendations for accounting and roporting for charities. The trust88s ha examined the requirements of the charity to hold free reserves - those reserves not invested in tangible fixed assets, excluding long tem liabilities. or designated for a particular purpose. The TNstees considered it would be appropriate to hold the equivalent of 12 months running costs, which would equato to holding apprgximate £760.000-£790.OIJO in free reserves. At tho year end, free resorves induding amounts hold in fixed asset investments were £217,397 (2023: £373.991. a décréasé of £156.594 in tho year. Investment pollcy and objectlves The trustees have considered the most appropriaté policy for tnvesting funds arKI have found that knlding a portfolio ot lower risk invastrnènts managad by Bardays WeaEth lo be most suitable. noting that those wero fully withdrawn during the year. Key Management Personnel The board, who give their time freely and have received no remuneration in the year. have considered who are the Koy Manag6m8nt Petsonnel (KMP) of the charity, as noted in the Reference arKI Administration section. Together vrith the board. these KMP are thosè in charge of directing and controiling, running and operating tho activiti8s of the charity on a day to day basis. The pay of the KMP is reviewed annually and nomially increased ITr accordance with average eamings. The trustees b8nchmark against paylgvels of other thartties and similar organisations within the sector and the region. Pay 16vels are sèt using this information together with the budget and forecast infonnation, ensuring that the charty can afford any proposed increases. The board then agree any uplfft to remunoration.
,a{5141&ffj[ Tt•l)¥w.ts¢m SJ41 8,1)v fii.Nr? 15 J41 Hl'l.5 111 h 4Q FS1 IlJTtr. - PHILIP CUSSINS HOUSE STATEMENT OF RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees, who are also the directors of Philip Cussins House for th8 purpose of company law. are responsible for preparing the Report and the financial statements in accordance with applicablè law and United Kingd¢yn Accounting Standards (United Kingdom Generalty Accapted Accounting Practice). Company Law requires the Irustees to prepare financial statamonts for each financial y8ar which givo a true and fair view of the state of affairn of th8 charty and of the incoming resources and application of rèsources, including the income and expenditure, of the charitablè company for that year. In preparing t$8 ffinancial statements, Ih? twstees are required to: - select suitable accounting policies and then apply them consistently,. - obsérve the methods and principles in the Charities SORP; - make judgements and estimatas that are reasonabte and prudent and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charty will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at •ny time the financial sItion of the charity 8nd enable them to ensure that the financial statements comply widi the Companies Act 2006. They aro also responsible for safeguarding th8 assets of t1 charity and henco for taking rSOnable step5 for the prevention and detection of fraud and other irregularities. By order of th8 Board of Trustees ISJAaO(*.I&J96STIUTC•l F Fogleman Trustee Dale.. 15 July. 2025
fr411 qlJ4¢1 Ifi Jts1 In.T£ 4: I¥Sl IllJl- D l.? $1 8,1 PHILIP CUSSINS HOUSE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PHILIP CUSSINS HOUSE I report to the trustees on my examination of the financial statements of Philip Cussins House {th8 charity) for the year endgd 31 December 2024. Responslbllltles and basls of report As th• trustèes of the charity (and also its directors for the purposes of company lawl you are responsible for tho preparation of the financial stat6ments in accordance wilh the requirements of th8 Companies Act 2006 {the 2006 Aet). Having satisfied rnyself that the finanelal statements of tho charity are not required to be audiled under Part 16 of the 2006 Act and aro eligible for independ•nt examination, I report in rospect of my examination of thè d)arity's financial stat8ments carried, out under section 145 of the Chariknes Act 2011 (the 2011 Act). In rryIng out my oxaminatton I have fallowed all the applicable Direct1*X given by th¢ Charity Commission under section 145(5)(b) of the 2011 Act. Independent examlnefs statement Since the charty's gross income exceeded £250.000 your examiner must b8 a membar of a body listed in section 145 of the 201 f Act. I confirm that l am qualified to undertake the oxamination because l am a m8mber of ICAEW, vthich is ono of the listed bcdie$. I have completsd my examination. I confim that rn matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records w¢r8 not kept in rèspoct of the charity as required by ¥e¢tion 388 of the 2006 Act: or thè financial $tatsm8nts do not accord wsth thoso records", or Ihe ffinancial Statèments do not comply wrfih th accounting requiremènts of section 396 of the 2006 A¢t other Ihan any requiremont that the accounts give a tNe and fair view which is not a matter considerod as part of an Èndepend8nt examination; or lh• financial statements have not be prepared in accordance with the methods and principlos of the Statement of Recommended Practice for aOuntIng and reporting by chariliés applicable to chariti03 preparing their accounts in accordance with th8 Financial Reporting Standard applicable in the UK arKI Republic of Ireland (FRS 102). I h0 no concerns and havg come across no other matters in connection wth the •xamination to which att•nti¢)n $IUld be drawn in this report in ordèr to enable a proper understanding of the financial statements to b8 reached. Slmon Brown BA ACA DChA Azets Audit Services Bulman House Regent Cenlro Gosforth Newts$tle Upon Tyne NE3 3LS Dated: 1510712025
PHILIP CUSSINS HOUSE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 (As restated) Unrestrlcted Unreslrlctsd funds funds 2024 2023 Notes Income from: t)onations and legacieg Charitable activities Inv•stmentS 4,651 920,310 13,231 848,063 10,326 Total Income 930.025 869.620 Ex endlture on". Charitable activitie5 1,096.965 997,472 N¢t gains1(lo$$e$) on InvlMents 10 7,220 10,750 Nel movement In funds (159,720) (117,102) Fund balances at 1 January 2024 1,392,208 1,509,310 Fund balances at 31 December 2024 1.232,488 1.392,208 The statement of financial activrtios includes all gains and losses reeognised in the year. All income and expenditure derive from continuing activitios. Thg statemgnt of finan8[ activitios also compyios with t requirements for an incomè and èxpenditurè account under the Companies Act 2006.
IC17rt42841 Iulf. •liC1QI' PHILIP CUSSINS HOUSE STATEMENT OF FINANCIAL POSITION ASAT31 DECEMBER 2024 2024 2023 as restated Notes Flxed assets Tangible assets Invèstrients 12 13 1,015,091 1.018,217 189.151 1,015,091 1.207.368 Current assets D•bters Cash at bank and in hand 14 33,376 224,491 20.846 195,719 257,867 216,565 Credltors.. amounts falllng due withln one year 15 (40,470) (31,725) Not current assets 217.397 184.840 Total assets less current Ilabllttles 1,232,488 1,392,208 Income funds Unrestricted funds 1.232.488 1.392.208 1,232,488 1,392,208 The company is entiued to the exemption from the audit requirement contained in se)n 477 of the C¢mponie$ Act 2006. for the yeor ended 31 December 2024. Thè d4rectors acknowledge th8ir rasponsibilitios for complying wth the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial stalem8nts. The members have not r8quirod tho company to obtain an audit of its financial ststements for the year in questign in accordancé with seetion 47e. These financial statements h8v8 been prepared in accordance with the provistons applicable tr) companies subject to the small companies regim•. 1510712025 Thefinancial statefftsnts were approved by tho Trust•os on ........................, F Fagleman Trustee Company reglstrallon number 03371617
PHILIP CUSSINS HOUSE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operatlng aclivltles Cash (absorbed byvgenerated from operation5 19 (168,183) 130.081 Investing activltles Purchase of tangible fixed assets Proceeds from disposal of tangiblè fixed assots Proceeds from disposal of inveslments Investment ineomè recoived (4,829) {20.328) 349 196,371 5,064 23.670 10.328 Nel cash generated from Investlng actlvltles 196,955 13.668 Nel cash used In flnanclng actlvltles Net Incvease In cash and cash equlvalents 28,772 143,749 Cash and cash equivalents at beginning of year 195,719 51,970 Cash and cash equlvalents at end olyear 224,491 195,719
PHILIP CUSSINS HOUSE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcies Charlty Inlorniatlon Philip Cussins Houso is a private company limited by guararrtee incorporated in England and Wales. The registered office is 33135 Linden Road, Gosforth, Newcagtle upon Tyne. NE3 4EY. 1.t Accountlng conventlon The financial statements have been praparod in accordance with the Companies Act 2006, FRS 102 'Th8 Financial Repcrting SlarKlard applicable in thè UK ar Republic of Ireland. I'FRS 102.) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicablo to charities preparing their accounts in accordance with Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 102). (effective 1 January 2019). Th8 charty is a Public Benefft Entity as definod by FRS 102. The financial slatemenls are prepared in sterfing. which is the functional currency of thé charty. Monetary amounts in thes• finanaal statements are rounded to Ihe nearest £. The financial statemonts have been prèpared under the histortcal cost convention modffided to include tho revaluation of inveslments. The principal accounting poiictes adopted are set out below. 1.2 Prlor perfod error The comparative figures for the year end•d 31 December 2023 have been adjustsd to refiect an adjustment to other dobtors, removing tha £100,000 loan balance (which was receipted by the 2023 year end and the receipl incorrectly posted into income). As a rèsult of the Correction, the incoma reported in 2023 year has been reduced by £100,000 and the other debtor rèmoved. such that the dosing roserves reported in the 2023 signed accounts have also docreased by tha sam• amount. t.3 Golng concern At th6 time of approving the financial statements. the trustees have a reasonable expethtion that Ihe tharity has adequate resources to eontinuo in oporational &xistence for the foresoeable future. Thus the trustees continue to adopt the gng concem basis of accounting in preparing the financial stat8m•nts. 1.4 Charltable funds Unrestricted funds aro available for usp at the discretion of the trustees in furtherance of their charitablé objectives. Rostricted fvnds are subject to specific conditions by donors as to how they may be used. Tho purposes and uses of the restricted fvnds are sèt out in tho not95 to the financial statements. End¢)wment funds are subject to specific condition5 by donors that the capitsl musl bo maintained by the tharity. 1.5 Income Income is recogni5ed when the charity is legalty entitled to it after any porfomancg conditions have been met. the amoLrnts be Tneasured reliabty, and it is probable that income will be receivgd. Ca6h donations are recognised on receipt. Other donations are recognised once the tharity has beon notifigd of the donation, unless PerfOanCe condilions require doferral of thè amount. Incomé tax r8cover8ble in elation to donations received under Gfft Aid or deeds of covenant is recognised at the time of thè donatten. Legacies are recognised on receipt or olherwise rf the charty has been notified of an impending distribution. th• amount is known, and receipt is 8xpected. If the amount is not kncwn, the legacy is trealed as contingent asset.
PHILIP CUSSINS HOUSE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles (Contlnued) 1.6 Expendlture Exponditure is recognised once there is a legal or constructive obligalion to transfer economic benefft to thi party, it is probable that a transfer of economic benefits will be required in setuement. arKI th• amount of the obligation can ba measured reliab. Expenditure is classffied by activity. The costs of each activty arè made up of the total of direct costs and shared cogls. including support costs involved tn undertaking eath activity. Dired costs attributable to a single activity are allocated directly to Ihat activity. Shared costs whith ntriblrtQ to more than one activty and support costs which are not attributable to a single activity are apportionèd bgtweon thos8 actrvrties on a basis consistgnt wth the u59 of resources. Central staff costs are allocatèd ¢)n thè basis of timè spent. and dépreciation cherges are allocated on the portion of the asset's use. 1.7 Tgible flxed assets Tangiblo fixed assèts are initialty measured at cost and subsequently moasured at cost or valuation, net of depreciation and any impairn*nl losses. Depreckgtion is recognised so as to writè off the cost or valuation of assets less their restdual values over thoir useful lives on the following bases: Froehold Property Fixlures, Fittings and Computer Equipment Sephar Torah Straight line over èxpectedlrfo 50% and 20% straight line Nil rate The gain or loss arising on the disposal of an assèt ts det8rn)in•d as thp difference btheen the sale proceed5 and thé earrytng value of the asset, and is recognis•d in the statenient of finoncial odivitie$. 1.8 Flxed asset Investments Fixed asset investments are initially measured at transaction price 6xcluding transaction costs, and are subsoquèntly measured al fair value at each reporting date. Changes in fair valua arè recognisad in not ncomal{èxpènditurè} for the year. Transaction costs are expensed as incurrad. 1.9 Impalmient of flxed assets At each roporting and date, thè charty reviows the carying amounts of its tangible assets to determine whether there is any indication that those assets havè sufferad an impairment loss. If any such indication exists. tho rocoverable amount of the asset is estimated in othr to detemiine the extent of the impaimient fv)ss (rf any). 1.10 Cash and cash equlvalents Cash and cash equivalents includo cash in hand, deposits held at call with banks, other short-temi liquid investment5 with original maturities of threa months orlass, and bank ovérdrafts. Bank overdrafts are shown within borrowFngs in current liabiliti8s. '.11 Flnanclal Instruments The tharity has elo¢tod lo appty the provisions of Section 11 'Basic Financial Instrumonts, and Sedion 12 Xher Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments ore recognised in the chartys balance sheet when the charity becomes party to the contractual Provisions of th8 instrum8nt. Financial assets and liabilities are offset. with th8 net amounts presented in the financial statements, whon there is a legally enforc6able right tp set off the recognised amounts and there is an intention to settle on a net basis or to realiso the 8s$et and settl8 the liabilty simultaneously. 10-
PHILIP CUSSINS HOUSE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles Icontlnued) Baslc flnanclal assers Basic financial assets, which indude debtors and cash arKI bank balances, are initr'ally mèasured at transaction pric8 tncluding transaction cost5 and are subsequentty carried at amortised cost usiNJ thé eff8Ctive interest method. Financial assets dassffied as récgivablo within one year are not amortisad. Baslc Ilnanclal Ilabllltles 8asic financial liabilitios, induding creditors and bank loans are initially recognised at transaction price. Financial liabilities classthed as payable within one year are not amortised. Debt instrum•nts are subsequenuy carried at amortised cosl using Ihe effective interest rate method. Trade Grodilor5 are obligati¢3ns to pay for goods or servicas that have been acquirod in the ordinary c¢)urse of operations from suppliers. Amounts payable are classified as current liabiltties if payment is due wilhin one year or less. If not, they aré presented as rcUrrent liabilities. Tradg uedilors are recognised initially at transaction price and sub5equentty measured at amortisod cost using the effectwe interest method. Derecognltlon of Ilnanclal liabilitles Financial liabilities are deracognised whèn t tharitys contraclual obligations expire or are discharged or cancelled. 1.12 Retlrement benellts Payrnents to defined contribution retirement b&nefft scheme5 are chayged as an expense as they fall duo. Crltl¢ai accountlng estlmates and Judgements In the applieatien of the charity's accounting policies, the trust5 are required to make judgements, estimates and assLtmptigns aboLrt the carrying amount of assets and liabilities that are not readily apparent from other sr¢05. Tho estimates and associated assumptions are based on historical eXpernCe and other factors that are considèred to bè relovanl. Actual resuhs may differ from these estimates. The estimates and undeHying assumptions are reviewed on an ongoing basis. Rovistons to accounting estimates are recognised in the period in which the estimate is revised whore th8 reviston affocts onty that period, or in the period of the rèvision and fulure periods where the revision affects both eurrent and future periods. There ara no significant 8stimates. Donatlons and legacles Unrestrlcted Unrestrlcted funds lunds 2024 2023 Donations and grfts Legacies re&vable Grants rec8ivabl8 2.351 2.300 5,834 3.7TT 3.620 4,651 13,231 11
PHILIP CUSSINS HOUSE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charltable actfvltles Care home Care home room fees Toom fees and daycaie and daycare 2024 2023 Rental incune 920.310 846,063 Care homè room fees aro unrestricted incomo. Inveslmenls Unrestrlcted Unrestricted funds funds 2024 2023 Other investment income Interest receivab 3,295 1.769 9.282 5,064 10.326 Charrtable actlvltles Care home Care home room lees room fees and daycare and daycare 2024 2023 Staff costs Depreciation and impaimient Care h¢)me room fees and daycare 891,193 7,606 377.922 613,211 8.693 348.589 1,076,721 970,493 Share of support costs Share of govemance costs 3,917 16,327 6.315 20,664 1,096,965 997.472 12-
PHILIP CUSSINS HOUSE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs Support Governance costs costs 2024 Support Govemance costs costs 2023 Telephone Bank charges Subscriptions and mgmberships 2,378 1,474 2,376 1.474 4.549 1,611 4,549 1.611 67 67 155 155 Aecountancy Legal arKI professional Olher govemanco costs 4,400 2,483 4,400 2,483 4,050 3,208 13,406 4,050 3,208 13,406 3,917 16,327 20,244 6,315 20,664 26,979 Analy5ed be0 Charitablo activitms 3,917 16,327 20,244 6.315 20.884 26,979 Trustees Nor* èf the trusteos (or any porsons connected with them) received any remuneration or benefits from the charity during the year. Employees The average monthly number of employees during the year was: 2024 Number 2023 Number Staff total 30 Employment costs 2024 2023 Wagés and salaries Social security Costs Other ponsion costs 636,888 44,950 9,357 569,5TI 36,397 7,237 691,193 613,211 There werè no employees whose annual romuneration was moro then £60,000. The total èmployee bpnaffts of the key management P8rsonnel of the charity were £39,453 <2023: £35,795). 13-
PHILIP CUSSINS HOUSE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Trlet galnsl(losses) on Investments Unrestrlcted Unrestrictsd funds lunds 2024 2023 Rovaluation of investments Gainl(loss) on sale of invostsnonts (34,017 41,237 10.710 7,220 10,750 11 Taxallon Thé charity is exempt from tax on income and gains falliNJ within sèction 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeablo Gains Act 1992 to the extent that these are applied to its charitable objects. 12 Tanglble Ilxed assets FrMhold Flxtuf••, Seph*r Tprah PrortY Flttlngt and Computer Equlpment Totol Cost At 1 January 2024 Additions Disposals 993.763 228,026 4.829 (349) 3,000 1,224.789 4.829 (349) At 31 Decombor 2024 993,763 232,506 3,000 1.229.269 Depreclatlon and Impalrment At 1 January 2024 Depreciation charged in tha year 206,572 7.6Cfj 208,572 7,606 At. 31 December 2024 214,178 214,178 Catyng amount At 31 December 2024 993,763 18.328 3,000 1,015,091 At 31 December 2023 993.763 21.454 3,000 1.018.217 Th8 twustses have considered the value of tha Freehold Propety above as al th8 year end and have eoncluded that tho value of these would not be lower than £993.763 They havo therefore decided not to depreciate the asset. 14-
PHILIP CUSSINS HOUSE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Flxed asset Investrnents Llsted Investhient5 Cash in portfollo Total Cost or valuatlon At 1 January 2024 Disposals 189,061 (189.061 } 189,151 (189,151) {90) At 31 December 2024 Carrylng amount At 31 December 2024 At 31 December 2023 189.061 189.151 14 Debtors 2024 2023 As restated Amounts falllng due wlthln one year: Trade debtors Othr debtors Prepaymènts and accrued income 20,003 525 12,848 2,782 2,906 15,158 33,378 20,846 15 Creditors.. amounts falllng due withln one year 2024 2023 Other taxation and social Security Trade creditors Other creditors Accruals and deferred income 10.722 19.230 5,693 4.825 7,953 13,724 4,804 5,244 40,470 31,725 15-
PHILIP CUSSINS HOUSE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Retlrement benefit schemes Defined ¢ontrlbutlon schemes The chartty operates a defined contribution pension schema for all quolifying employees. Thg assets of the schemè are held separatsly from those of the charity in an indopendontly administed fund. The tharge to profft or toss in respect of defined contribution schemès was £9,357 (2023- £7.237). Contributions totalling £425 (2023 - £683) were payable to the sch•m• at the end of the year and are included in edItorS. 17 Anatysls of net assets between funds (As restated) Unresirlcted Unrestrlcted funds funds 2024 2023 Fund balanc at 31 Decarnbèr 2024 are repr888nted by: Tangbi le assets Investmènts Current assetsl{lÈabiliti8s) 1.015,091 1,018.217 189.151 184.840 217.397 1,232.488 1,392.208 18 Related party transactlons Th8rg W8r• no disclosabl8 related paty transactions during tha year (2023 - none). 19 Cash generated from operatlons 2024 2023 Deficit for the year (159,720) 1117.102> Adjusknants for: Investment income rocognised in statement of financial activittas Gair) pn disposal of investsments Fair valu• gains and losses on invèsknonts Depreciation and impaimwnt of tangible fixed assets (5,084) (41,237) 34,017 7,606 (10.328} (40) (10.682) 8.693 Movements in working capital: {IncTeaseydecroase in debtors Increase in dit¢)rS (12.530) 8.745 250.718 8,820 Cash (absorbed byygenerated from operations (168.183) 130,081 16-