Charity Registration No. 1101597 Company Registration No. 04741522 (England and Wales) JOB'S CLose RESIDENTIAL HOME FOR THE ELDERLY TRusfEES' ANNUAL REPORT AND FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 IHOMAS +YounG CHARTERED ACCOUNTANTS + REGISTERED AUDITORS
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY CONTENTS for the year ended 31 March 2025 Page Chairman's statement Trustees, report Auditor's report 9-12 Statement of financial activities 13 Balance sheet 15 Statement of cash flows 16 Notes to the aGcounts 17-27
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY CHAIRMAN'S STATEMENT for the year ended 31 March 2025 This year norrnal business has continued in the Home. Room occupancy has ranged from 28 to 33 residents representing an occupancy rate of 91,19 against a budget set for 28. The Board and Home Manager have concentrated on continuing to improve the facilities and catch up with much needed redecoration. The merging of six smaller rooms into three to provide more spacious accommodation with modern bathroom facilities has been completed. Improvements in fire precautions on the second floor have enabled the room there to be occupied. This was all funded within our remit as a not-for-profit charity. Residents remain generaiiy well. happy and in good spirits enjoying the social activities that the Home provides, There were six deaths from natural causes during the year and two residents had to be moved for nursing care. The Closed-circuit Television system has again been upgraded to further enhance Home security. The continued increase in costs, notably energy and food, has been of great concern. In addition, we have increased staff pay to remain ahead of the rise in the National Living Wage. Our budget for 2025126 has also to accommodate the significant rise in National Insurance which took place in April. We have had no option but to increase room rates by a very moderate 5Q/o. We have however advised that a mid-year review may be needed. During the year the Board reviewed the Charity Commissions checklist for internal financial controls and have met the standards therein, This exercise prompted revision of the Home's banking and financial policies which have been updated and are being reviewed at least once each year, Job's Close continues to maintain Its fine reputation as a home from home. Our Home Manager, Eileen Carlton, has ensured that all policies and procedures are up to date and ompliant in accordance with the requirernents of the Care Quality Commission (CQC). I should like to thank.. a) All the staff for continuing to provide directly or indi rectly a high and consistent level of care to our residents. b) My fellow Trustee Directors for their commitment, goodwill and expert advice as we continue to work towards achieving our plans for the Home. c} The residents, their friends and relatives for their support for the Home over the year. DrRo an B Hopkinson Chair (Qluly 2025
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY TRUSTEES, REPORT <INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) for the year ended 31 March 2025 The Trustees present their report and the audited financial statements of the charity for the year ended 31 March 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recorrmended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland published in October 2019. Reference and administration information Company Name Charity number Company number Registered office Trustees Job's Close Residential Home for the Elderly 1101597 04741522 Lodge Road, Knowle, Solihull, 893 OHF The directors of the charitable company are also it's trustees for the purpose of charity law. Th8 trustees who have served during the year and since the year end were as follows., Dr. R B Hopkinson (Chair) Mrs. G R Arbuthnot Mr A J Hogarth Mrs. G Lamb Mrs, H Ellis Mrs. E M Baker Mr. A K Stonehewer Mr A P Foulkes In accordance with the company's Articles of Association, one third of the Trustees retire In rotation at each Annual General Meeting. Mr A Foulkes, Mrs. G Lamb and Mrs H Ellis retired and were re-eleoted. Senior Executive Mrs. E I Carlton (Manager) Thomas & Young Limited Carleton House, 266-268 Stratford Road Solihull, B90 3AD Auditor Bankers Lloyds TSB PIC 9-11 Poplar Road Solihull, B913AN Solicitors Standley & Co 1612 High Street Knowle, Solihull. B93 OJU
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT} forthe year ended 31 March 2025 Structure, Governance and Management Governlng Documents Job's CIDse Flesidential Home for the Elderly is a charitable company limited by guarantee, incorporated on 23 April 2003 in England and Wales and registered as a charity on 19 January 2004. The company was incorporated under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of an insolvent winding-up of the cornpany, members are required to contribute an amount not exceeding £1. Previously. Job's Close Residential Horne was an unincorporated charity which opened on 21 September 1957. Trustee Recruitment and Training Power to appoint new Trustees lies with the existing Trustees. When recruiting new Trustees, the existing Trustees look for those individuals whose skills and experience are such that they can make a significant contribution to the management and operation of Job's Close and to the wellbeing of the home's residents. New Trustees are made aware of their responsibilities as charity trustees and company directors and are helped to familiarise themselves with the practic81 and financial aspects of the charity's operations. To assist them they are provided with a copy of the company's Memorandum and Articles of Association, the latest published accounts, the charity's mission statement and forward plan and appropriate Charity Commission publications. Organisational Structure The board of Trustees administers the charity and meets at least 5 times a year. A Home Manager is appointed by the Trustees and registered by the Care Quality Commission (CQC) as the Registered Manager. to look after the care and well-being of the residents and to manage the Care Budget, to ensure that staff are properly trained and that regulations and procedures laid down by the Care Standards Act are implemented and followed. During the year, Mrs Eileen Carlton continued to hold this position. She is supported by Miss Jayne O'Neill as Deputy Manager. The Office Manager administers the day-to-day financial activities of the Horne, The Accountant prepared the accounts and provides regular financial reports for the Home. Remuneration for 211 staff is set with the approval of the Trustees, who seek to offer fair pay to attract and keep good quality staff to manage, support and deliver excellent care to the home's residents. Pay levels are reviewed every year as part of the annual budget setting process and on the appointment of new posts. considering the needs of the home and its residents, the level of skills and competencies reqLiired for the role and the rate of pay compared to similar roles locally, as well as ensuring affordability. All staff are paid at rates greater than the National Living Wage.
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT AND STR4TEGIC REPORT) for the year ended 31 March 2025 Risk Management The Trustees review the major operational and strategic risks to which the home is exposed on an ongoing basis and are satisfied that systems and controls are in place to minimi5e exposure to such risk as may exist. Financial forecasting and the preparation of monthly management accounts ensure the provision of adequate funding for the home's operations and internal control procedures ensure the proper authorisation of all major items of expenditure. Managers and Trustees regularly monitor potential threats to future income levels and costs against agreed budget levels. Procedures are also in plats to ensurÈ as far as possible the health and safety of residents, staff, volunteers and visitors to the home. Following the guidance from the Charities CDmmission, the Trustees have classified risks into five areas.. governance, operational, financial, environmental and compliance (law or regulation). The Trustees consider that the major risks facing the home remain the loss of the building or a significant part of it, loss of CQC registration, loss of reputation and loss of funds. whether through internal fraud, mismanagement or external factors. A disaster recovery plan is in place including alternative accommodation. The Home Manager undertakes monthly audits to ensure procedures are being followed and up to date. Trustees review the CQC inspection reports at Board meetings and ensure any correctionslactions are implemented. All staff receive mandatory and other training through the regular supervisionlappraisal process. There is a clear complaints procedure if any issue cannot be resolved informally. Trustees review the management accounts at every Board meeting. Authorisation procedures are in place and service contracts are regularly revigwed to ensure the home continues to obtain value for money. The Trustees aim to maintain a reserves level equivalent to at least three months operating costs to ensure that, in the event of a significant drop in funding, the home's current activities will be able to continue while consideration is given to ways in which additional funds may be raised. All appropriate insurance policies are in p12ce and their adequacy reviewed on an annual basis, Objects and AGtivities of the Charlty The principal activity of the company continues to be the provision of residential care to the residents of Job's Close in Knowle. The Trustees have referred to the guidance contained in the Charity Comrnission's general guidance on public benefit when reviewing the mission statement of the charitable company and in plann ing any future activities. At 31 March 2025 the home had 33 roorns available for occupation and the number of residents during the year moved as follows.. Residents 31 As at 1 April 2024 Arrivals Deaths Leavers As at 31 March 2025 (6) (21 29
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT> for the year ended 31 March 2025 Analysis of Residents Male Fernale Total 2025 2024 2023 23 29 25 31 27 32 Age Profile 2025 2024 2023 Aged up to 80 yaars Aged 81- 85 Aged 86 - 90 Aged 91- 95 Aged96- 100 Aged 101+ Total 10 29 31 32 Achievements and Performance The home continues to provide a varied range of activities for residents for which thanks are due to staff. Further investment has been made in enlarging and refitting rooms with new fumiture, carpets and curtains. Financial Review As shown in the Staternent of Financial Activities on page 13, income from charitable activities increased to £1,708,203 (2024.. £1,597,860). Net incoming resources for the year after legacies, donations, investment income and interest received, but before gains on investment revaluations was £105,049 compared with net incoming resources of £96,787 in the previous year. The home welcomes donations to fund its activities and gratefully acknowledges the generosity of all those who made contributions during the year. Capital expenditure of £112,607 was incurred in the year on freehold buildings and fittings and equipment to upgrade facilities. The Trustees consider that at 31 March 2025 the charity's financial position was sound. Capitsl and Incorne Fund5 The charity has six funds in the year including the unrestricted Accumulated Fund. The Designated Fund is for structural repairs or building improvements. The Building Fund is an expendable capital fund which represents the value of the home's land and buildings. The Job's Close Welfare Fund is also an expendable capital fund, the income from which may be used to cover the welfare of residents. There were two restricted funds this year, Please see Note 12 for further details.
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) for the year ended 31 March 2025 Reserves Policy Unrestricted income reserves held at the year-end were £453,982 (2024: £349,680). It is the policy of the charity that unrestricted income funds which have not been designated for Specific future purposes or projects should be maintained at a level which provides sufficient to cover foreseeable cash flow requirements. The Trustees aim to maintain a reserves level equivalenl to at least three months operating costs. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to contin ue the charity's current activities while consideration is given to ways in which additional funds may be raised. The unrestricted funds as at 31 March 2025 are in line wlth the preferred level as set out in the reserves policy. Future Plans The trustees will monitor the availability of funds with the intention of making further improvements in due course.
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) for the year ended 31 March 2025 Statement of Trustees, Responsibilities Responsibilities of the Trustees The trustees (who are also directors of Job's Clos@ Residential Home for the Elderly for the purposes of company law) are responsible for preparing the Trustees, Annual 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently, obsetve the methods and principles in the Charities SORP 2019 (FRS 102)., make judgements and estimates that are reasonable and prudent. slate whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for ke@ping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Third party indemnity provisions Trustees, liability insurance was in place for the year. Disclosure of information to the auditors We, the directors of the company who held office at the date of approval of these Financial Statements as set out above each confirm, so far as we are aware, that" there is no relevant audit information of which the company's auditors are unaware., and we have taken all the steps that we ought to have taken as directors in order to make ourselves aware of any relevant audit information and to establish that the company s auditors are aware of that information.
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT for the year ended 31 March 2025 In approving the Trustees, Annual Report, we also approve the Strategic Report included therein, in our capacity as company directors. This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. On behalf of the Board of Trustees Dr R B Hopkinson Chairman 10 July 2025
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLEY Opinion We have audited the financial statements of Job's Close Residential Home For Tre Elderly (the 'charitable company) for the year ended 31 March 2025 which comprise the Statement of Financial Attivities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financi31 Reporting Standard applicable in the UKand Republic of Ireland (United Kingdom Generally Accepted Accounting practi}, In our opinion the financial 5tstements: give a true and fair view of the state of the charltable company's affairs as at 31 March 2025, and of its incoming resourtrs and application of reSoUrs, including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepting Accounting Practice; and have been prepared in accordantr with the requirements of the Companies Att 2006, Basis for opinion We conducted our audit in accordance with International Stsndards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial ststernents in the UK, including the FRC'S Ethical standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements, We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concerning basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material unTrrtainties relating to events or conditions that, i ndividually or collettively, may cast sig nificant doubt on the charitable company s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue, Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the trustees, annual report, other than the financial Statements and our auditor's report thereon. The trustees are responsible for the other information contained wiithin the annual report, Our opinion on the finanaal statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial Statements or our knowledge obtained
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLEY in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misststement in the financial ststements themselves. If based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees, report (incorporating the directors, report) for the financial year for which the financial statements are prepared is consistent with the financial statements. and the direttors, report has been prepared in aordan with applicable legal requirements, Matters on which we are required to report by exception In the light of the knowledge and understanding of the tharitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report. We have nothing to report in respett of the following matters in relation to which the Companies Act 2006 requires us to repart to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been reiVed from branches or visited by us,. or the financial statement5 are not in agrment with the aoUntIng records and returns. or certain disclosures of directors, remuneration specified by law are not made. or we have not reiVed all the information and explanations we require for our audit. or the trustees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exemptions in preparing the direttors, report and from the requirement to prepare a strategic report, Responslbilities of trustees As explained more fully in the trustees, report responsibilities statement set out on page 7 the trustees (who are also the direttors of the charitable company for the purpK)ses of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting, unless the trustees either intend to liquidate the charitable company or to trase operations, or have no realistic alternative but to do so. 10
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLEY Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are InStanS of non-compliance with laws and regLtlations. We design procedures in line with our responsibilities, outlined above, to detett rnaterlal misstatements in respett of irregularities, including fraud. However, it is the primary responsibility of management, with the oversight of the trustees, to ensure that the entity's operations are conducted in accordance with the provisions of laws and gUlationS and for the prevention and detection of fraud. In identlfying and assessing risks of material misstatement in respect of irregularities, including fraud, we have: obtained an understanding of the nature of the industry and sector, including the legal and regulatory framework that the company operates In and how the company is cornplying with the legal and regulatory framework,. and inqulred of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected of alleged instances of fraud, As a result of these procedures, we consider the most significant laws and regulations that have a direct impact on the financial statements are the Charities SORP (FRS 102)'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),. Financial Fleporting standard FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,, the Companies Att 2006 (and related legislation), the Charities Act 2011 (and related legislation), and laws and regulations relating to the employment and payment of staff including, but not limited to, the Employment Rights Act 1996, the National Minimum Wage Att 1998 and the Pensions Att 2008. We performed audit procedures to detett non-compliances which may have a material impact on the financial statements, which included reviewing the financial statement disclosures. This includes sample testing of monthly payroll records for the calculation of gross wages, payroll taxes and pension costs. We identified the areas of the financial statements most susceptible to fraud to be management's judgement in allocating expenditure to individual restrirted and unrestricted funds, Including the allocation of wage costs and general staff overheads. Audit procedures performed included, but were not limited to, reviewing management's reasoning and workings behind these allocations of expenditure,
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLEY Because of the inherent limitations of an audit, there is a risk that we will not detett all irregularitie5, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliantr with a law or regulation is removed from the events and transattions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather tha n error, as f raud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at: ht www.frc.or Our-wor Audi Au -and- ssurance Standards-and- uidance Standards-and- uidance-for-auditors Auditors-res onsibilities-for audit Descri tion-of-auditors-res onsibi lities-for-audit.as our auditor's report. This description forms part of Use of our report This report is made solely to the charitable company's members, as a body, in accordan with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stste to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not actrpt or assume responsibility to anyone other than the charitable company and the charitable company's members as a bodyi for our audit work, for this report, or for the opinion5 we have formed. James Carty FCA (Senior statutory auditor) Thomas and Young Limited Chartered Accountants Carleton House 266-268 Stratford Road Shirley Solihull B90 3AD IL 12
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT} for the year ended 31 March 2025 Unrestrfcted Accumulated Dgsignated Roicted fund Funds Funds Expendablè Capital Funds Total 2025 Total 2024 Nate INCOME FROM., Charitable acliintle5 1,708,203 1,708.203 1,597,860 2,353 180 Donations and legacies IngImentS 2,103 250 5,683 5.683 6,448 TOTAL INCOME 1,71S,989 250 1,716,239 1,604,486 EKPENDITURE ON.. Charitable aciiwlies 1,611,190 1,611,190 1,507.719 1,811,190 1,507,719 TOTAL EXPENDITURE 1,611,190 Nel1108se$llgain8 on inslrnenl revaluation 12,8051 12,8051 15,474 NEf INCOMEIILKPENDITUREI 104,799 250 12,80SI 102,244 112,241 Transfer between fiJnd$ 14971 1,831 {1,3341 NEf MOVEMENT IN FUNDS 104,302 1,831 250 (4,1391 102,244 112,241 Fund balances brought forward 349,680 121,871 30 2,165,946 2,637,527 2,52S,286 TOTAL FUNDS CARRIED FORWARD 453,982 123,702 280 2,161,807 2,739,771 2,637,527 The stalernenl of financial aclibilies includes all gains and losses recognised during the year. All income and expenditure deri from continuing actiirilies. Thè slalement ol financial actilieS a150 complies with the requirements for an income and expenditure account under Ihe Companies Act 2006.
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) for thè year ended 31 March 2025 PRIORFINANCIAL YEAR Unreslricled Accumu131ed Designated ReslriGled ltsnd Funds Funds Expendable Capital Funds Ttslal 2024 Note INCOME FROM.. Charitable acliulies 1,594.142 3,718 1.597.860 Donations and legacles InKe$lmen18 150 180 6,446 6.446 TOTAL INCOME 1,600,738 3,748 1.604.486 EXPENDITURE ON., CharFlable acliiilies 1,502,818 4,901 1.507,719 TOTAL EXPENDITURE 1,502.818 4,901 1.507.719 Nel gain$ Dn inwslmenl rtholualion 15,474 15,474 NET INCOMEIIUPENDITUREI 97,920 11,1531 15,474 112,241 Transfer between funds 114,809 1218.1291 13,7181 107,038 NEf MOVEMENT IN FUNDS 212,729 1218, 1291 14,8711 122,512 112,241 Fund balancès brought foward 126,951 340,000 4,901 2,043.434 2,525,286 TOTAL FUNDS CAFIRIED FORW ARD 349,68a 121.871 30 2.165,946 2,637,527 The stalemenl Cf flnancial aclimlies Includes all gains and losses re¢ognised during the year. All income and expenditure deri from conlinuing acliiilies. The slalement oyfinancial aclimlies al$0 Complies with the requlremenls for an in¢orne and expenditure aecounl under the Companies Act 20C 14
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY COMPANY No 04741522 BALANCE SHEET As at 31 March 2025 Notes 2025 2024 FIXED ASSETS Tangible assets sled in*slmenl 2,131819 138.381 2,114.301 141,186 CURRENT ASss Stock Ceblors Cash al bank and in hand 2,271.200 2,255,487 1750 46.84B 504,204 2,75Q 20,852 428. 137 553,802 451.739 Less . CREDITORS amounts falling due wlhin Dne year 185,231) 169,6991 NET CURFIENT ASSETS 468,571 382,040 TOTAL ASSETS LESS CURRENT LIABILITIES 2,739,771 2,637,527 CREDITORS amounts falling due 3fter one year 2,739,771 2,837.527 CAPITAL AND RESERVES Expendable Capltsl Funds Bullding Fund Welfare Fund 12 12 2,023,426 138,381 2,024,760 141,186 2,161.807 2.165,948 Unrestrictsd I ncom8 Ftsnds: Accumulated Fund Oesignaled Fu 12 12 453,982 123,702 349,880 121,871 Restrict•d Funds 12 280 30 TOTAL FUNDS 2,739,771 2.637,527 The CDmpary was entitled lo exernplion trom audit under s477 Of Ihe Companies Act 2008 relating lo small cornpanies bui a5 this company is a charity, il ig subject lo audil under the Charilieg Act 2011. The mern bers ha not required the company lo obtain an audit in a¢cordance section 476 01 the Cornpanies Act 2006. The dir2clors acknowledge Iheir responsibilities for complying vilh Ime QUIreMentS ol the Companies Act with respéct lo accounLing records and the preparation of accounts. These accounts hake been prepared in accordancè wlh the proirigion5 applicable lo small companies subject to the sm.all Companies regime and in accordance with FRS102 SORP. The financial slalemenls wer& approiEd 2nd aulhorised for i5sLe by the BoarLI onl QJuly 2025 and signed on ils behalf Dr R B Hopki nstsn Chai rma n 15
J08'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY STATEMENT OF CASH FLOWS For the year ended 31 March 2025 Notes 2025 2024 CASH FLOW FROM OPERATING ACT]VITIES 14 182,991 121,661 CASH FLOW FROM INVESTING ACTIVITIES P8ymenl lo acquire tangible fixed assets Bank inl&rèst reCeId COIF diudends receiwd 1112,6071 5,683 1218.5261 8,446 NEf CASH FLOW FROM INVESTING ACTIVITIES 1106.9241 1212,0801 NEf INCRE4SWIDECRE4SEI IN CASH AND CASH EQUIVALENTS 76,067 190,419) CASH AND CASH EQUIVALENTS AT THE START OF PERIOD 428,137 518.556 CASH AND CASH EQUIVALENTS AT THE END OF PERIOD 504,204 428,137 CASH AND CASH EQLIIVALENTS CONSISTS OF: Cash al bank and in hand 504,2Q4 428.137 16
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY NOTES TO THE ACCOUNTS For the year ended 31 March 2025 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES General information and basis of preparation Job's Close Residential Home for the Elderly is a charitable private company limited by guarantee, incorporated on 23 April 2003 in England and Wales and registered as a charity on 19 January 2004. The company was incorporated under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association, In the event of an insolvent winding-up of the company, members are required to contribute an amount not exceeding £1. The address of the registered office is given in the charity information on page 2 of these financial statements. The nature of the charity's operations and principal activities are the provision of accommodation and care to the residents of Job's Close in Knowle. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally AcGepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been Gonsistently applied to a15 years presented unless otherwis8 Stated. Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accoidance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measLired reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance befora entitlement can be obtained then income is deferred until those 17
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY NOTES TO THE ACCOUNTS For the year ended 31 March 2025 Income recognition (cont'd> cond itions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102) For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed. Fees receivable which represent income from charitable activities are accounted for in the period in which the service is provided. Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent, Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is reGognised as the charity's right to receive payment IS established. Investment income from the investment of the Welfare Fund is designated to cover the shortfall which arises when a resident's funding from Social Services does not meet the home's fees. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. Expenditure recognltion All expenditure is accounted for on an accruals basis and has been classified under heading5 that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Expenditu re on charitable activitie5 includes those costs directly incurred by the charity in running the home and expenditure of an indirect nature necessary to support this activity as well as governance costs being costs associated with the constitutional and statutory req u irements of the charity and include audit fees and costs incurred in the strateg ic management of the company. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. 18
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY NOTES TO THE ACCOUNTS For the year ended 31 March 2025 Support costs allocation Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources The analysis of these costs is included in note 3. Offsetting There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. Tangible fixed assets Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended, Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows.. Freehold land is not depreciated Freehold buildings Furniture, fixtures & fittings ICT Equipment The current capitalisation policy is to have m inimum thresholds for capitalisation of.. Land, Buildings and Improvements is £5,000 Machinery, Equipment, Fixtures & Fittings is £1,000 Investments 2.50/0 cf cost 200/0 of cost 50 % of cost Investments are recognised initially at fair value wh ich is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in 'net gains I (losses) on investments, in the SOFA if the shares are publicly traded or their fair value can othenvise be measured reliably. Stocks Stocks are staled at the lower of cost and estimated selling price less costs ta complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY NOTES TO THE ACCOUNTS For the year ended 31 March 2025 1.10 Debtors and creditors receivable I payable wlthln one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. 1.11 Impairment Assets not measurecl at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an irnpairment10sS IS recognised in the SOFA unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. 1.12 Em ployee benefits hen employees have rendered seniice to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The Charity operates a defined contribution pension plan for the benefit of its employees. Contributions are expensed as they become payable. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as 8n expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits, 1.13 Tax The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. 1.14 Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial staternents. The budgeted incorne and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. 20
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY NOTES TO THE ACCOUNTS For the year ended 31 March 202S TOTAL INCOME RECEIVED 2025 2024 Accumulated fund Charitable acliiilies - Resident Donation and legacies Bank Interest 1,708,203 2,103 5,683 1,594,142 150 6.446 Restrlcted Funds Charitable actiiities Granl income Donation and legacies 3,718 30 250 1,716.239 1,604,486 £Nil12Q24,. £3,718) was receid from Solihull Meiropolitan Borough Council towards digilalising madieal records. TOTAL RESOURCES EXPENDED Basis of Charitabl• Allocation Activltl•s Governance Total 2025 Total 2024 Costs directly r91ated to activltses.. Staff Costs Training Promsions Household requisites Premises Residents, lel&phDn85 Insurance and registration Repairs and renewals Audit Accountancy Diocl Direct Direct Direct Direct Direct Direct Direct Direci DI¢1 1,02S,013 2,743 84,413 64,17S 77,824 4272 23,739 131,931 1,025.013 2,743 84,413 64.17S 77,834 4,272 28,887 131,931 4,800 914,801 83,279 61,842 90, 303 4,272 27,S32 143,659 4.800 2,155 5.148 4,800 Support costs allocatgd to actlviljes,. Office and finance staff Tning Other staff Gosis Equipment purchases Professignal fees Communicaiions Adrtising Bank charges L05s on disposal of Fixed Asset Depfeciaiion Staff lirne Usage Usage Usage Usage Usage Usage Transaction TransaGIiop, Usage 42,119 6,300 48,419 42,405 222 3,293 22,772 9,793 5,216 400 376 90 80.509 4.424 25.080 9,840 5,008 4,424 25,080 9,840 5,006 264 284 94,089 94,089 16,248 1,611,19Q 1,5D7 719 1,594,942 £1.$11.190 12024 £1,502.8181 DI the aboie expendilbre was ai'.ribulaole 10 unrestricted funds £Nil 12024.. V4,9011 of the abo* expenditure was alEribulable lo restCted nds. £52.268 12024. f49,5611 in relation lo depr•cial!on was li anstsritd irom unr)Slricied fiJp.ds to expendable capital ndS 21
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY NOTES TO THE ACCOUNTS For the year ended 31 March 2025 INCOME FOR THE YE4R Net income is stated after charging.. 2025 2024 Depreciaiion of tangible ass81s Op&rating lease rentals 94,089 17,478 80.509 13,108 TRUSTEES. REMUNE514TION AND E<PENSES Th• Irusleas naith8r reCeId nor walked any ramuneration dudng thé year12024.. £Nill. Trustee oxpensés reirnbursed in tho year wer¢.. £Nil12024.. G Lamb £1541 AUDITOR'S REMUNERATION Audilorts remunerali¢n for the year wa5 £4,80CI12024.' £4,800). STAFF COSTS AND KEY MANAGEMENT PERSONNEL The akerage monthly numbar of empltsyees and full lime equivalent during the year was as follows.. 2025 Number 2024 Number Employees., Full lime Part tirrte 17 34 14 39 51 53 The 34 part lime $18ff are eqUIalent 10 18 full lime slaff12024. 201. 2025 2024 Wages an¢ salaries Social security costs Pension costs 982,663 71,687 19,082 88Q,547 60.814 15,84S 1,073,432 9S7.206 No employee recei*d 10131 ernp5oyee benefits (excluding employer pension costs) of more than £60.00012024 None). The charity oper8ie$ a defined ¢¢niribulior, pension plan for Ine Denefft of its employees. The key manageryeni personnèl of the Chanlable Company comprised of the Care DAanager. Deputy Care Njlanager, Office lIanager and Acountant. The lolal employee benefi[$ ol the key managemt&nt pets¢nnel ¢1 the Charitable Company are £133,44a12024.' £119,8051. 22
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY NOTES TO THE ACCOUNTS For the year ended 31 March 2025 TANGIBLE FIXED ASSErs Freehold Lènd FehOld Buildings Fillings & Equipmenl Total Co81 '. At 1 April 2024 Additions Disposals At 31 March 2025 500,000 2,050,649 50,934 276,445 2,827,094 61.673 112.607 11,2001 11.2001 500,000 2,101,583 33fj.918 2,938.501 D&preGiation Al 1 April 2024 Charge lor the year Withdrawal re di$p05al At 31 Mar¢h 2025 525.689 52,268 186,904 41.821 11.2001 712,793 94.089 11,2001 578,157 227,525 805,682 Net book value at 31 March 2025 soo,000 1,523.426 109,393 2,132,819 Nel book value at 31 March 2024 500,000 1,524.760 89,541 2, 114,301 FIXED ASSET INVESTMENT Listed InStMent consis15 of 549.2212024.. 549.221 COIF Charitie5 In*slmenl Acculmulated Fund unlls. 2025 2024 Ac¢umulated Units Cost al l Aprfl 2024 Addilions In the year Cost a¥ al 31 M?rch 202S 127,892 127,892 127,892 127,8g2 Market value adjustment Al 1 April 2024 Change in value in year Mark¢i value adjustment as al 31 March 202$ 13,294 12,8051 10,489 (2,1801 15,474 13,294 fvlarkel lue al 31 March 2025 138,381 141,186 10 DEBTORS 2025 2024 Trade debtors Prepayments & accrued income 26,2 19,886 5,08-: 15,765 46,848 20,852 23
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY NOTES TO THE ACCOUNTS For the year ended 31 March 2025 CREDITORS amounts falling du8 qlhin one year 202S 2024 Trade creditors Taxes and social security cos15 P8nsion contributions Resident conlributions in advance Other credilotE and accruals 29,850 21,747 5,464 14,596 13,574 33,028 13,909 3.188 3,124 16.450 8S,231 69.699 12. FUNDS Unreslrfcled Accumulated Designated Reslricled Fund Fund Fund5 Expendable Capital Funds Total Funds Balance at 1 April 2D24 Nel incoming re80urces Transfers InStment revdlualion10g$es 249,680 104,799 14971 121,871 30 2,16S,946 2,637,527 250 105,049 1,831 11,3341 12,8051 12,8051 8alan¢e al 31 March 2025 4S3,982 123,702 28) 2,161,807 2,739,771 Unreslriclerl Accumulaled Designaled Reslri¢ied Fund Fund Funds Expendable Capital Funds Total Funds Balance al 1 April 2023 Nel incoming resources Transfers Instent revaluation gains Balance al 31 March 2024 136,951 97,920 114,809 340,000 4,901 2,043.434 2,525,286 96 767 1218,1291 13,7181 107.Q38 15,474 15,474 349.890 121,871 30 2,16S,546 2,637,527 Deslgnat8d Funds Designated for any Slnjclural repairs or building irnprokements required. 24
JOB'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY NOTES TO THE ACCOUNTS For the year ended 31 March 2025 12. FUNDS ICONfDI Restricted Funds 01.04.24 Income E¥p&ndilurg Tran5Fers 31.03.25 Don3lion5 Staff 30 250 280 Balance al 31 March 2025 30 250 280 01,04.23 Income Expenditur8 Transfers 31.03.24 Oigilal Records Software . SM8C Donations Staff 3.718 30 13,7181 4,901 14,9011 14,9011 3D Balance al 31 March 2024 4,g01 3,748 13,7181 30 Donations restricted for the benefit of Siaff, Oigital Records Software grant ISM8CI wa$ Spent 8nd capilali58d in March 24. Expendab18 Capltal Funds Expendable G8pilal Funds Building Welfare Fund Fun¢ Total Expendabl• Funds Balance al 1 April 2024 Nel incoming resources Transfers InStment galns 2,024,760 141,186 2,165.946 11,3341 11,3341 12,8051 2,8051 ealane8 al 31 March 2025 2,023,428 138,381 2,161,807 Expendable Capital Funds Building Welfaré Fund Fund Total Expendable Funds alance at 1 April 2023 Nel incoming resources Transfers In*slment gain5 Balance al 31 March 2024 1,917,722 125,712 2,043,434 107,038 107.038 15,474 15.474 2.024,760 141,186 2,165,946 Building Fund - representing the 1Ve ol the home's land and builrJing5. Depreciation and building additions ha¥e been InSfered from che unresiricled nd lo the 2uilding fund. We Ifare Fund - InEsimenis held from vknich the income Is used lo coler the welfarè ol residen15 when no ?Iher support Is available. 25
J08'S CLOSE RESIDENTIAL HOME FOR THE ELDERLY NOTES TO THE ACCOUNTS For the year ended 31 March 2025 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS A¢curnulated Deslgnated Rgstri¢ted Expendabl• Fund Fund Fund Fund 2025 Totsl Tangible fixed assèts InStmentS Cuffenl assets Creditors '. amounts due within one year 109,393 2,023,428 2.132,819 138,381 138,381 553,802 185,2311 280 2,161,8Q7 2,739,771 429,820 185.2311 123,702 280 453.982 123,702 Accumulated Designated Re$lricled Expendable Fund Fund Fund Fund 2024 Total Tangible fixed 85se15 Inleslmenls Current assets Creditors amounts due thIn one year e9,541 2.024,760 2,114.301 141,186 141.186 451.739 189.6991 329.838 169,6991 121.871 30 349,880 121.871 30 2, 165,946 2,637.527 14. NEf CASH PROVIDED BY OPER4TING ACTIVITIES 2025 2024 Nel income for the year Bank inlewl receivable Depreciatlon and impaimeni of iangible fixed as$els Loss on disposal ol tangible fixed agsels Lossllgainl on in*$lmen15 Ilncreaselldecrease in debtors Increa$el(dec asel in Gredilors 102,244 15,8831 94,089 112.241 16.4461 80,509 90 115.4741 5,944 155,2031 2,805 125,9961 15,532 182,991 121,6S1 15 RELATED PARTIES There been no related party Iran$aclion$ in the reporting period12024.. None). 16 OPEPATING LEASES The lolal future minimum lease payments due under non.caneellable operating leases are as follows. 2025 2024 Within one year Between two and file years rvlore than fi years 16,367 46,437 15,7g; 60.464 62,804 All operating lease payments are Iated as an oxpense. 26