2023-03-31-accounts - Job's Close Residential Home For The Elderly

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		Page
Chairman's statement
Trustees' report		2-8
Auditor's report		9-13
Statement offinancial	activities	14
Balance sheet		16
Statement ofcash flows		17
Notes to the financial	statements	18-29

		Unrestricted			Expendable
		Accumulated	Designated	Restricted	Capital	Total	Total
	Note	fund	Funds	Funds	Funds	2023	2022
			E	E	E	E
INCOME FROM:
Charitable activities	2	1,340,049		981		1,341,030	1,263,737
Donations and legacies	2			17,608		17,752	70
Investments					1,774	1,774	43
TOTAL INCOME		1,340,193		18,589	1,774	1,360,556	1,263,850
EXPENDITURE ON:
Charitable activities		1,310,482		4,284		1,314,766	1,070,618
TOTAL EXPENDITURE		1,310,482		4,284		1,314,766	1,070,618
Net gains on investment
revaluation					4,512	4,512
NET INCOME/EXPENDITURE		29,711		14,305	6,286	50,302	193,328
Transfer between funds		(190,351)		(9,404)	199,755
NET MOVEMENT IN FUNDS		(160,640)		4,901	206,041	50,302	193,328
Fund balances brought	forward	297,591	340,000		1,837,393	2,474,984	2,281,656
TOTAL FUNDS CARRIED		136,951	340,000	4,901	2,043,434	2,525,286	2,474,984
FORWARD

PRIOR FINANCIAL YE	AR
		Unrestricted			Expendable
		Accumulated	Designated	Restricted	Capital		Total
	Note	fund	Funds	Funds	Funds		2022
		E	E	F			E
INCOME FROM:
Charitable activities	2	1,184,529		79,208			1,263,737
Donations and legacies	2	70					70
Investments						43
TOTAL INCOME		1,184,599		79,208			1,263,850
EXPENDITURE ON:
Charitable acti~ties		1,008,473		62,145			1,070,618
TOTAL EXPENDITURE		1,008,473		62,145			1,070,618
Net gains on investment
revaluation
NET INCOME/EXPENDITURE		176,126		17,063		139	193,328
Transfer between funds		(298,550)	340,000	(17,063)	(24,	387)
NET MOVEMENT IN FUNDS		(122,424)	340,000	-	(24,248)		193,328
Fund balances brought	forward	420,015			1,861,641		2,281,656
TOTAL FUNDS CARRIED		297,591	340,000		1,837,393		2,474,984
FORWARD

				Notes		2023		2022
FIXEDASSETS
Tangible assets						1,976,374		1,901,214
Listed investment						125,712		1,200
						2,102,086		1,902,414
CURRENT ASSETS
Stock					2,750		2,750
Debtors				10	26,796		30,079
Cash at bank and	in hand				518,556		587,359
					548,102		620,188
Less: CREDITORS:		amounts	falling
due within one year					(124,902)		(47,618)
NET CURRENT ASSETS						423,200		572,570
TOTAL ASSETS LESS CURRENT LIABILITIES						2,525,286		2,474,984
CREDITORS: amounts		falling
due aRer one year
						2,525,286		2,474,984
CAPITAL AND RESERVES
Expendable Capital Funds:
Building Fund				12		1,917,722		1,836,193
Welfare Fund				12		125,712		1,200
						2,043,434		1,837,393
Unresbicted Income		Funds:
Accumulated Fund				12		136,951		297,591
Designated Fund				12		340,000		340,000
Restricted Funds				12		4,901
TOTAL FUNDS						2,525,286		2,474,984

	2023	2022
	F
CASH FLOW FROM OPERATING ACTIVITIES	203,760	230,244
CASH FLOW FROM INVESTING ACTIVITIES
Proceeds from the sale of investments
Purchase of investments	(120,000)
Payment to acquire tangible fixed assets	(154,337)	(38,018)
Bank interest received
COIF interest received
COIF dividends received	1,774	43
NET CASH FLOW FROM INVESTING ACTIVITIES	(272,563)	(37,975)
NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS	(68,803)	192,269
CASH AND CASH EQUIVALENTS PT THE START OF PERIOD	587,359	395,090
CASH AND CASH EQUIVALENTS AT THE END OF PERIOD	518,556	587,359
CASH AND CASH EQUIVALENTS CONSISTS OF:
Cash at bank and in hand	518,556	587,359

2. TOTAL INCOME RECEIVED
				2023		2022
				6		E
Accumulated fund
Charitable activities - Resident's				1,340,049		1,184,529
Donation and legacies				144		70
Restricted Funds
Charitable activities - Grant income				981		79,208
Donation and legacies				17,608
Welfare fund
Investment income				1,774		43
				1,360,556		1,263,850
6981 (2022:f79,208) ofgovernment	grants were received for assistance		during	the COVID-19 pandamic.
	Basis of	Charitable			Total	Total
	Allocation	Activities		Governance	2023	2022
			E	F.	f
Cosh directly related to activities:
Staff costs	Direct	772,997			772,997	683,446
Provisions	Direct		66,977		66,977	59,804
Household requisites	Direct		43,594		43,594	42,798
Premises	Direct		81,900		81,900	46,206
Residents' telephones	Direct		4,103		4,103	3,612
Insurance and registration	Direct		5,071	21,137	26,208	22,829
Repairs and renewals	Direct	149,280			149,280	46,036
Audit	Direct			4,500	4,500	4,500
Accountancy	Direct			5,450	5,450	6,218
Support costs allocated to activities:
Oflice and finance staff	Staff time		37,605		37605	36558
Training	Usage		84		84	226
Other staff costs	Usage		7,652		7,652	9,196
Equipment purchases	Usage		20,175		20,175	21,195
Professional fees	Usage		10,346		10,346	6,684
Communications	Usage		3,940		3,940	4,237
Advertising	Usage		400		400	1,106
Bank charges	Transaction		378		378	431
Depreciation	Usage		79,177		79,177	75,536
		1,283,679		31,087	1,314,766	1,070,618

4. Net income for the year
Net income is stated afier charging:		2023	2022
		E	E
Depreciation oftangible assets		79,177	75,536
Operating lease rentals		15,538	13,108
5. TRUSTEES' REMUNERATION	AND EXPENSES

		2023	2022
		Number	Number
Employees:
Full time		10	8
Part time		42	39
		52	47
The 42 part time staft are equivalent	to 22 full time staff (2022: 22).
		2023	2022
		E
Wages and salaries		749,806	668,764
Social security costs		48,003	40,146
Pension costs		12,793	11,094
		810,602	720,004

8. TANGIBLE FIXEDASSETS	Freehold	Freehold	Fittings &
	Land	Buildings	Equipment	Total
Cost:
At 1 April 2022 Additions	500,000	1,767,081 126,969	191,237 27,368	2,458,318 154,337
Disposals
At 31 March 2023	500,000	1,894,050	218,605	2,612,655
Depreciation:
At 1 April 2022 Charge for the year		430,888 45,440	126,216 33,737	557,104 79,177
Withdrawal re disposal
At 31 March 2023		476,328	159,953	636,281
Net book value at 31 March 2023	500,000	1,417,722	58,652	1,976,374
Net book value at 31 March 2022	500,000	1,336,193	65 021	1 901 214

Listed investment consist	s of549.22 (2022: Nil) COIF Charities In	mstment Acculmulated Fund units.
		2023	2022
Investment Units		E	E
Cost at 1 April 2022		513	513
Additions in the year		120,000
Disposals in the year		(120,513)
Cost as at 31 March 2023			513
Market value adjustment At 1 April 2022 Change in value in year		687 6,692	591 96
Profit realised on disposal		(7,379)
Market value adjustment	as at 31 March 2023		687
Market value at 31 March	2023		1,200
Accumulated Units
Cost at 1 April 2022
Additions in the year		127,892
Cost as at 31 March 2023		127,892
Market value adjustment
At 1 April 2022
Change in value in year		(2,180)
Market value adjustment	as at 31 March 2023	(2,180)
Market value at 31 March	2023	125,712
10. DEBTORS		2023	2022
Trade debtors		11,251	9,851
Other debtors			2,094
Prepayments		15,545	18,134
		26,796	30,079

11.	CREDITORS: amounts	CREDITORS: amounts	2023	2022
	within one year		E
Trade	creditors		49,929	7,644
Taxes	and social security costs		11,482	8,759
Pension contributions			2,705	2,223
Resident contributions		in advance	11,818	3,944
Other	creditors and accruals		48,968	25,048
			124,902	47,618
12.	FUNDS

			Unrestricted			Expendable
			Accumulated	Designated	Restricted	Capital	Total
			Fund	Fund	Funds	Funds	Funds
			E		E	E	E
Balance at	1 April 2022		297,591	340,000		1,837,393	2,474,984
Net incoming		resources	29,711		14,305	1,774	45,790
Transfers			(190,351)		(9,404)	199,755
Investment	gains					4,512	4,512
Balance at	31 March 2023		136,951	340,000	4,901	2,043,434	2,525,286
			Unrestricted			Expendable
			Accumulated	Designated	Restricted	Capital	Total
			Fund	Fund	Funds	Funds	Funds
			E	E	E	E	E
Balance at	1	April 2021	420,015			1,861,641	2,281,656
Net incoming		resources	176,126		17,063	43	193,232
Transfers			(298,550)	340,000	(17,063)	(24,387)
Investment	gains					96
Balance at	31 March 2022		297,591	340,000		1,837,393	2,474,984

12. FUNDS (CONT'	12. FUNDS (CONT'	D)
Restricted Funds			01.04.22	Income	Expenditure	Transfers	31.03.23
			E	E	E		E
Rapid Testing Fund -		SMBC		981	(981)
Vouchers	- SMBC			2,450	(2,450)
Donations	- Residents			9,404		(9,404)
Donations	-Stait			5,754	(853)		4,901
Balance	at 31 March	2023		18,589	(4,284)	(9,404)	4,901
			01.04.21	Income	Expenditure	Transfers	31.03.22
						E
Covid 19	Vaccine Fund - SMBC			49	(49)
Infection	Control Fund	—SMBC		53,244	(29,244)	(24,000)
Rapid Testing Fund -		SMBC		23,465	(30,402)	6,937
Vouchers	- SMBC			2,450	(2,450)
Balance	at 31 March	2022		79,208	(62,145)	(17,063)

12. FUNDS	12. FUNDS	(CONT'D)
Expendable		Capital Funds	Expendable	Capital	Funds	Total
			Building	Welfare		Expendable
			Fund	Fund		Funds
			E			E
Balance at	1	April 2022	1,836,193		1,200	1,837,393
Net incoming		resources			1,774	1,774
Transfers			81,529		118,226	199,755
In~stment	gains				4,512	4,512
Balance at	31 March 2023		1,917,722		125,712	2,043,434
			Expendable	Capital	Funds	Total
			Building	Welfare		Expendable
			Fund	Fund		Funds
			E			E
Balance at	1	April 2021	1,860,537		1,104	1,861,641
Net incoming		resources			43	43
Transfers			(24,344)		(43)	(24,387)
Inwstment	gains				96	96
Balance at	31 March 2022		1,836,193		1,200	1,837,393

					Accumulated	Designated	Restricted	Expendable	2023
					Fund	Fund	Fund	Fund	Total
					E			E	E
Tangible	lixed assets				58,652			1,917,722	1,976,374
Inwstments								125,712	125,712
Current	assets				203,201	340,000	4,901		548,102
Creditors:		amounts	due within	one year	(124,902)				(124,902)
					136,951	340,000	4,901	2,043,434	2,525,286
					Accumulated	Designated	Restricted	Expendable	2022
					Fund	Fund	Fund	Fund	Total
							f
Tangible	fixed assets				65,021			1,836,193	1,901,214
In~stments								1,200	1,200
Current	assets				280,188	340,000			620,188
Creditors:		amounts	due within	one year	(47,618)				(47,618)
					297,591	340,000		1,837,393	2,474,984

					2023	2022
						F
Net income for the year					50,302	193,328
COIF dividends receivable					(897)	(43)
Bank interest receivable					(877)
Depreciation and impairment			oftangible	fixed assets	79,177	75,536
(Gain) on	in~tments				(4,512)	(96)
(Increase)	/ decrease	in stock
Decrease	/(increase)	in debtors			3,283	(12,169)
Increase	/ (decrease)	in creditors			77,284	(26,312)
					203,760	230,244

The total future	leases are as follows:
	2023	2022
	F.
Within one year	13,990	13,990
Between two and five years	55,958	54,233
More than five years	12,141	27,281
	82,089