Charity reglstratlon number 1103520 Company reglstration number 4993720 (England and Wales) THE BEVERN TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE BEVERN TRUST LEGAL AND ADMINISTRATIVE INFORMATION Patron Natasha Kaplinsky OBE Trustees Ms B S Y KAdamson Mr S R Brenthall Dr P G Frost Mr N J F Houston Rev P K Mundy Ms S E Schueler MrJDMain (Appointed 13 March 2024) Secretary Mrs S E Goodllffe Charity number 1103520 Company number 4993720 Reglsterad offlce Bevern View The Willows Barcombe Lewes East Sussex BN8 5FJ Audltor SumerAudit Amelia House Crescent Road Worthing West Sussex BN11 1RL Bankers CAF Bank Ltd PO Box 289 West Maillng Kent ME19 4TA
THE BEVERN TRUST CONTENTS Page Trustees, report statement of trustees, responsibilities Independent audltor's report 8-10 Statement of flnanclsl activities Balance sheet 13 Statement of cash flows 14 Notes to the financial statements 15-28
THE BEVERN TRUST TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial stalements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting polici&s set out in note 1 to the financial statements and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Slatement of Rècommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" (effective 1 January 2019). Objectives and actlvlties Our charty's purposes as set out in the company's memorandum of sssociation are.. the r81ief of persons with learning, physical, mental or other form of disability by the provlslon of residential homes, holiday facilities and medical Care. 2. the advancement of education of the persons who reside at Bevern View., 3. the promotion of and supporting research into the causes of learning difficultiesldisability. their needs and the support of such people (and the publication of the useful results of the same). Th8 aims of our charily are to support young adulls with multiple disabilities and complex needs by the provision of resldential, education, health care and therapies. We review our aims, objectives and activlties each year and produce a strategic plan with goals which are used to assess our performance. The process looks at the success of each activity and the benefits they bring to the people we are set up to support. The review also helps ensure our aims, objectives and activities remain focused on our stated purpose. How our activltles deliver public beneflt Our main activities and those who we try and help are described below. All our charitable aclivities focus on the support of people with complex needslprofound disabilities and their familles and are undertaken to further our charitable purposes for Ihe public beneflt. The trustees have pald due regard to guidance issued by the Charity Commission in deciding what activlties the charity should undertake. Who used and beneflt8d from our servlces? Our aims focus on services for local people. The rationale for the service is that it should enable young people with complex needs to remain close to Iheir homes and families, so that they continue to be part of the family and local community with visits to home and parents being closely involved in Bevern View. We do this by providing high quality residential care. Funding is determined by ihe provision available from local authorities and Continuing Healthcare, who have a responsibility to assess needs and to allocate resources accordingly. We give priority to adults from the local area (within 20 miles), in the first instance who qualify for funding for residential placements, based on an assessment of their needs. Access lo the service is therefore not determined by the income of families. Equal access to our services is an important issue for us. We have developed a matrix for determining priorities for offering places when they become available. This is based on the level of need and compatibility with other residents in the home. We are aware that demand for places afways exceeds our capacity to supply a service but we are committed to retain an homely 8nvironmenl in which each individual is of immeasurable worth. The trust continues to access continuing education for residents. As provision of continuing education for people with profound and multiple disabilities has reduced, we have increased our own provision. We employ o specialist activity staff, together with a specialist communications leam, who develop education and activities for on-site delivery. We also have a dedicated healthcare team, who work alongside the support staff, ensuring that our residents and those looking after them are kept safe, kept informed and enabled lo lead full and rewarding lives. The trust continues to offer specialist hydrotherapy in its own purp05e-built pool and also offers the use of the hydrotherapy pool to support other people in the local communty.
THE BEVERN TRUST TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Funding for social care remains a national and local issue, but we have continued to obtain significant funding packages for our residents, to ensure the high quality of our care and support. The Vision It is our vision to be an inclusive and equal society, where people are released from expectations others have about disability. We want to enable people with profound disabilities to lead full and rewarding lives as part of their family and community. Our four values are- Committed (love) - We offer a home for life for our residents and offer support for their families Care (care) - We ensure our residents receive high quality care and support which is person-centred, reflecting their needs and wishes. We uphold our residents, dignity, privacy, and human rights Choice (freedom)- We support our residents to maximise their choice, control, and independence Communty - We are committed lo operating as a community and committed to being a responsible part of the local communities around us. The Bevem Trust has a strong commitment to building relationships with other dlsability charities and sharing expertise wherever possible. It is our vision to be able lo one day support more local families who have an adult with a dlsablllty who needs a home or a place to go or an activity to be part of or simply a community with which they can engage. Achievetnents and performance A big highlight of the 2023124 financial year was our Immensely successful campaign to raise over £50,000 for a new minibus, which will significanlly enhance our ability to support individuals wilh profound disabilities in leading fulfilling lives within their communities. The other main achievements have been.. Restructure of the management team, with a foGUS on maximising the outcomès for residents 2. New, dedicated Care Manager recruited, who will focus-. on the care provision of the home alongside our Clinical, Physlotherapy and Activity teams, maximising the choice, control and independence of the people that live at Bevern View and on fully supporting our large Gare team on a day-to-day basis 3. The registered manager now has oversight of all the areas of the care horne and can dlrect and support tha team fully through our robust governance process and direct support and mentoring 4. Overhaul of our medication management prosses, together with an increase in the clinical training that we provide 5. A review of our mealtimes and how we offer choice to the people that have limlted communication and specialist diets, ensuring that the residenls are being listened to regardless of their limited communication. 6. Having been awarded a £5,200 grant from Sport England, enabling us to develop an innovative new programme that empowers our residents to actively participale in their chosen community sports. 7. A generous grant of £10,000 has enabled us tu sustain our vital music therapy and activilies programme, ensuring that our resid@nts continue to benefit from enriching and slimulating experiences. Flnancial revlew Care Home Operation At the end of the financial year, The Bevern Trust had funding for eleven full time residents on a spot contract basis. In the year 2023124, this amounted to.. £1,932,243 {2022123: £1,773,164). Overthe year total donations, fund raising and gifts for the trust Game to £145,051 <2022123.. £89.143). In 2023124, the trust recorded an operating surplus on its general fund of £73,840 (2022123.. £43,667). Net transfers out to olher funds amounted to £55,122 <2022123.. £82,866), dLse to net transfers oul to designated funds of £66,92212022123.' £83,OOQI and £11,800 (2022123.. £1341 in from restricted funds. The total increase on the general fund for Ihe year was £18,718 (2022123. decrease of £39,199).
THE BEVERN TRUST TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net transfers out to the designated funds included £83,759 to the Building Project fund, with £13,200 from the Maintenance fund. £1,041 from the Assel Replacement fund and £2,596 from the Storage Proj8Ct fund, giving a net total out of the General fund of £66,922. Transfers in to the general fund from the restricted funds included £2,000 from the Restricted Gift fund and £9,800 from the Minibus fvnd, totalling £11,800. Reserves pollcy Th8 trustees h8ve set a policy for holding unreslricted liquid resenies of £203,000. These res8rves are required by the trust to provide:_ Working capitsl to finance the day to day sctivlties of running a Care Home,. currently assessed as £110,000 An income cushion to meet the funding gap that occurs with a change of resident; currently assessed as £62,000 A cushion to provide necessary healthcare lo resldents in the event of insuificient funding currently Sssessed as £31,000 At the end of the financial year, total unrestrlcted liquid reserves stood al £594,585. £398,726 of that figure had already been designated to the following funds:. Building Project fund - £283,759 lowards a new activity centre, a staff rest room and offices Asset Replacement fund - £45,812 as s sinking fund to replace operating fixed assets Storage Project fund - £57,404 Maintenance Fund - £11,751 Notes.. The designated Brooklands project seed fund and the Activity Centre Proj8Ct fund were merged at the beginning of the year, to give a single °Building Project fund.. The remaining unrestricted liquid reserves of £195,859 are held in line with the trust's Reserves Policy of £203.000. Trust policies and rfsk management Extensive risk assessments are carried out for all activities undertaken by the residents of Ihe Trust. Audits by external consultants confirm ihat all Trust policies are in place as required by the legislation. They show that we are meeting all required standards. The Trust is committed to maintaining this high standard in fLrture assessments by CQC and conlracting bodies. This is confirmed by the outcomes of surveys of parents and staff satisfaction. Risks The principal risks and uncertalntles facing the charity are.. The death or deterioration in health of 8 resident, the latter leading to rehoming., The withdrawal of statutory funding- The gap beMeen our statutory funding and day lo day cosls, with the erosion of fee values in real terms, dua to th8 reduction in spending on social care by Local Authorities and the NHS- The loss of key, long seNing senior staff, without a sufficient SUCGession plan., Insufficient Trustees andlor insufficient requisite skills amongst the Trustees- Challenges in recwiiing staff, mainly due to the low wage levels in socia5 Care and possibly the rural location of BV and the lack of public transport. Insufficient reserves to meet the loss of fee income or other unexpected financial hardship- Maintaining Management and Staff quality and ameliorating risk in a pressured social and economic climate. Increased regulations that negatively impact the operating costs of the business eg GDPR., The Current political and economic instability, impacting inflation and the cost of living.
THE BEVERN TRUST TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 To manage this, we have.. Put a bereavement policy in place, to ensure that no room stays vacant for any longer than necessary. We also keep an up to date register of potential new residents., Built and continue to retain good working relationships with funding authorities, challenging fees where appropriate. Stopp&d all respite provision for the foreseeable future. This has led to a more stable and secure income stream. Whilst the Trustees continue to be committed to offering respite care, it is not currently feasible. We are aware that demand for residential places outstrips supply. We are in regular Gomrnunication with commissioning organisations and view this as low risk at the present time., Cover plans being put in place for key staff roles., Proactive recruitment of new Trustees, with clinical and commercial skills., An in-house, qualified HR manager, with an external HR I legal retainer Gontract,. Implemented various measures to retain and motivate our staff and to increase their wellbeing, including regular supervisions and providing Cooked meals. We are an accredited Living Wage employer, have a wellbeing programme with provision for physical and mental health support and have given staff a bonus for the past 2 years to help with high living costs.. Rebuilt our depleted reserves, by robust cost controls. Ensuring that we are compliant with regulations. whilst trying to achieve a balance of cost effectiveness. Robust cost controls and investigation into possible sources of sustainable energy Strateglc plannlng For over 25 years, slnce 1999, our residential home, Bevern View has been providing a loving and supportive 8nvironment for residents with profound physical and learning disabilities. As our residents get older and their needs become more complex we have recognised that we urg8ntly need to extend the home in order lo create a space for our residents lo live life to the full. We are alming to rslse over £650,000 which will mean we can transform our home by building a dedicated activity room, equipped with built-in hoists for maximum safety and flexibility. Alongside cutting-edge sensory equipment we will have areas for music, arts and crafts as well as vital storage space. all of which will contribute to providing our residents with stimulating and engagin9 experiences in a secure environment. Reclaiming the lounge means our families will have a tranquil space in which they can spend quality time with their loved ones outside of a bedroom setting. The project also encompasses a new office building and staff break room, creating a more supportive work environmenl and fostering staff satisfaction and retention. The trustees are fully committed to the success of our building project and have put aside money that was received from a generous bequest in 2022 which is reflected in the designated Building Project fund. The trustees have created a new part time Nominated Individual (Nl) and Registered Manager post, which holds oversight of management of all aspects of the trust and day to day running of the Care Home, working together wilh the Operations Manager, TwstAccountant and a new Care Manager. Work has continued on establlshing a person ntered care approach, to enable our residents lo live a lfIllIng life. Managemenl and staff have worked together to adapt aGtivities, education and therapies, tailoring them to individual needs and also working to Communicate with families.
THE BEVERN TRUST TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Our short term direction, is to maintsin stability wÉthin the trust. Key objectlves include.- Robust, regularly updated individual needs assessments and fee negotiations- Recognising that the needs of our residents are changing as they are gelting older and ensuring that care plans and activities are reviewed and adjusted to reflect Ihese changing ne8ds and interests,. In line with increasing medical needs of an older population, we aim to provide care in the Home and minimize hospital stays wherever possible,. Preparing for end of life care and support for our residents and their families; Continuing to improve our approach to retention, recruitment and training of staff, also avoiding the need for agency workers; The trust and our residents benefit from a committed, caring and creative staff team. We are committed to supporting people who work for us in their own developmenl. We continue to work towards giving staff new responsibilities or qualifications where appropriate, including care staff working towards level 3 and level 5 adult social care diplomas. Reviewing the staff rota. to ensure continuity of care for the residents, whilst adapting where possible to the needs of staff., Continuing to keep operating costs to a minimum, without compromising safely or quality, through robust budgeting and financial controls; Maximislng Ihe information, support and advice provided by external professionals such as the senior physiotherapist, speech & language specialists and a GP who visits weekly. We pay for these services, which are not covered in most of the residential fees., and Securing ongoing fundraising income to support costs thal are not included by funding and which enable us to give a high quality of life and Choi to our residents. We are increasingly reliant on grants. We are passionate about releasing people from the expectations others have about disability. We offer love, care, freedom and opportunity, allowing profoundly disabled people and their families to get more from life. Care, family and lov8 com@ first, @very day. Structure, governance and management The Bevern Trust is a Christian charity and a charltable company gov8rned by Its Memorandum and Articles of Association. The charitable company was incorporated on 12 December 2003 and registered with the Charity Commission on 29 April 2004. It commenced activities on 1 October 2004 after the transfer of assets and liabiltties from the Agape Trust. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to Ihe date of signature of the financial statements were.. Ms B S Y KAdamson Mr S R Brentnall Dr P G Frost Mr N J F Houston Rev P K Mundy Ms S E Schueler MrJDMain MrDFByme (Appoinled 13 March 20241 (Resigned 13 September 20231 The board has power to appoint additional trustees. No director held any beneficial interest in the charrtable company. The member of staff Charged with day to day management was the Nominated Individual and Registered Manager, MrsAshly Sarsons.
THE BEVERN TRUST TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) (CoNTIuED} FOR THE YEAR ENPED'3tMARCH 2024 Yrugteè appointmènts Ènd Indtsctlo There18 no specifK uf 8 tEusteds 8pPolnlnléht. If a tsiislee resws or iitha Board'idènbffè$ tFi& need for qddilli?no1 skiWslknowiedg8 amongst ils me-h)b&, ap.prOlate nornineefj 'Y411 b8 itsntilled and 8pproa¢hé¢l. itacAncles gro adveit]sed'tlirpugh rélèvant channels, iha praclse chcT68'of iyltsh 18 deteniiin&¢ by tho slolls thal. thEBoard rèqulres the new ¥poinlrFlent lo brfng toits ll TnlK Thè process for a potenl(a nèw fin[e2 is.an Iniilalwephone Ini&MeulWilh the Chalr, a ¥isit.lo. B8v#m ifie!4 yillh another truste< altendance èt'Pa(l of d rd inéetingw.iib o declsion step after e¥Gh stagp for lh& appIlnt to contlnuè to the next step or no.t.. Onco appointed. a Dew tnistee Ibén vlsits. Bevgm Vtew for a tBlf-day gehwa. I Fnducllon with.thg raglstèred InHnager. In'accoFdanGo. wllh Qompany Lew, arts third oithe Board retlreg by rofatlon aod ts eligfole for..t&8lediorL Managom)#t structlwè Tha$enSor managem8nl..team (S.M7) Meets eVewwèek¥ and incfudes thg Nominated 1fidN1dts& Regls'tar80 MaNager, Op.erdlltitss Manager. Tw¥.tAEcountant and iwo.lidstée& There18 3 Serv1 ¢ovemance meèfin9 (not a $ub commrtteè df th8.goardJ wlilcb gxarnlnaa bQtb ] pcÈton'plan and an.]ProVemen for In'dlvldyRI $eNlcesknrn appr0prf9, f¢cu4lng o.n qQalty 8af8ty. AJJ InaJpr ntstters,: Idèntifted fn th&,1èlth8 of rofÈrenc& af thB rin9g8m8nt teem..ar6. referreo tp Iha Aull.Board fjf InisteèB. wh'lch ma8ts foyr¥rilÉS I.2r. A Servlce Usèrs. :Forum ipeets ragularfy aod.w.Iii:;In$'tltu'te.a'nothinatÈd User whowill 8ct ai:.a mote form41 meéllw b relay,.Mmplaln14 .compfiryleThls and rèsporès neederf. Ex•cutiv¢ pay Exe¢utlv8 p.a'y.at thé Bev.euKTrust1$ 581 reiatlyely low Irl rximparfsbn'to th8.commerclalsecbr. The.trugt Usps Ial charity pay'as a guieelini Oria poy b revlewed yeafiy.. E%euthv¢.pay Is sign.1flrril b.èlow r.BPOrtabiB18vals. 14 acc0lban wilb the mmparf.ws 8rticla8£ a resolulon ptroposing Ihat Sumar.knOk' ba reap'F•i.iptyd. gs al[10r pf tbe ccmpgn.y 111 tro p.t alo:QeneJ21 MBetln Mr'N 41 F Housio ¢halrmaN.
THE BEVERN TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Irustees. who ar8 alsD th8 directors of The Bevern Trust for the purpose of company law, are responglbl8 for preparing th8 Trustees. Report and the financÈal statements in accordance with.applicable law and United Kfngdoffl Accounting St8¥Jdards (United Ktngdorn GenerallyAGcepted Accounting Practice). Company Law requires tl)e trustees to prepare financial statements for each ffnancial yaar whl¢h give a true and fair vlew of lh6 slete of affairs of the charitable company and of tha Incomlng resour5 and 8ppIiGatlon of resources, Including the Incomè and expanditura. of the charitable company for that year. In preparlng these financÉal st81ements, Ihe trustees are r8qulrad to: - select sullable accountlng policies and Ih8n apply them conslstently: - observe thg methots and prlnclples In the Charllles SORP. - make Judg8m8nts and e811mates that arè reasonable and prudent; and prepare the financlal stalem6nts on the 9Jlng concern basis unless It 18 Inapproprfala io presum8 th8t the charftab18 company wlll conllnue In op6ratlon. Tha trusté8S ara mponslbla for kaéping 8dequate accountfng records that dlsclose with r&a80nable accuracy at any tim8 th¢ 17nancial posilion of the Gharitabl8 company and enab18 Iherr to ansure that the financial strdtemenls comply wlth the Companies Act 2006. They ara also rasponslbla for safeguarding the assets of the charitable ¢ornpary and hence for taklng reasonable slaps for th6 preventlon and detection of fraud and other Irregularities.
THE BEVERN TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE BEVERN TRUST Opinion We have audited the financial statements of The Bevem Trust (the 'charitable company,) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet. Ihe statement of cash flows 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 Tha Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting PraGticel. In our opinion, the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordan with United Kingdom Generally Accepted Accounting Practic8; and have been prepared in accordance wlth the requirem8nts of the Companles Act 2006. Basls for opinion We conducted our audit in accordance with Intemational Standards on Audlting (UK) (ISAS {UK)l and applicable law. Our responsibilities under those standards are further described in the Auditoffs responsibilities for the 8udit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requiremenls that are relevant to our audit of the financial statements in the UK, inciuding 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 obtsined is sufficient and appropriate to provide a basis for our opinion. Concluslons rolating to golng concern In auditlng the financial statements, we h8ve concluded that the truslees, use of the golng concern basis of accounting in the preparation of the flnanclal statements is appropriate. Based on the work we have performed, we have not id8ntified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's abilily 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 responsibilits'es of the trustees with respect to going concern are described in the relevant sections of this report. other informatlon The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsib18 for the other information contained within the annual report. Our opinion on the financial statements does nol cover the other information and we do not express any form of assurance conclusion Ih8reon. Our responsibility is to read the other information and, in doing so, consider wh8lher the other information is materially inconsistent with the financial statements or our knowledge obtained in Ihe course of the audit, or otherwise appears to be materially misstated. If we identify such malerial inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfomed, we conclude that there is a material misstatement of this olher information, we are required to report thal fact. We have nothing to report in this regard. Matters on which we are required to report by exceptlon We have nothing to report in respect of the following malters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion= Ihe information given in the financial statements is inconsistent in any material respect with the trustees, report., or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the accounting records., or we have not received all the information and explanations we require for our audit.
THE BEVERN TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE BEVERN TRUST Responsibilities of trustees As explained more fully in the statement of trustees, responsibilities, the trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial slatements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to 8nable 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, matt8rs related to gaing concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic altemative but to do so. Audltorfs responsibilities forthe audit of the flnanclal statements We have been appointed as auditor under section 144 of the Charltles Act 2011 and report in accordan with the Act and relevant regulalions made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statemenls as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is nol a guarantee that an audit conducted in accordance wilh ISAS (UK) will always detect a material misstalement 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. In addition to the above, our procedures to respond to risks identified included the following.. Making enquiries of management, about any known or suspected instances of non-compliance with laws and regulations and fraud,. Reviewing mlnutes of meetlngs of the board and senior management., Reading correspondence with regulators; Challenging assumptions and judgements made by management in their significant accounting estimates, including defined benefit pension scheme valuations., and Auditing the risk of management override of controls, including through testing joumal entries and other adjustments for appropriateness. Irregularities, includlng fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstalements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. In identifying and assessing risks o* material misstatement in respect of irregularities, including fraud and non- compliance with laws and regulations. our procedures included the following: Obtalnlng an understanding of the legal and regulatory framework that the charitable company operates in, focusing on those laws and regulations that had a direct effect on the financial statements and operations., Obtaining an understanding of the charitable company's policies and procedures on fraud risks, including knowledge of any actual, suspected or alleged fraud,. and Discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud through our knowledge and understanding of the company and our sector- specific experience. As a result of Ihese procedures, we considered the opportunilies and incentives that may exist within th8 charitable company for fraud. We ar& also required to perform specific procedures to respond to the risk of management override. As a result of performing the above, we identified the following areas as those most likely to have an impact on the financial statements.. compliance with the UK Companies Acl and CharitiesAct.
THE BEVERN TRUST INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF THE BEVERN TRUST In additlon to the above, our procedur6S to respond to rfsks identified included the following: Making enqulrles of management about any known or suspected Instanw of non-compliance vAth laws and regulations and fraud. Reviewing minute5 of meellngs of the board and senior management Chall8nglng assumpljons and Judgéments made by management in Iheiy signlfi¢ant accounting eslimates. and Audlllng the risk of management overrfde of controls, Including through testing loumal 6nlrfes and other adjustmént8 for apprOprIat&S8, Due lo the inherent Ilmitetlons of an audit. ttTr8rè Is an unavoldable rlsk that some mat6tl81 ml8siatsments In the flnanGial ststemenls rnay not be detected. 8v8n though the audit Is properly planned and performed in accordance wilh Ihe ISAS (UK). For lllstan, the firther removed non-coMpknance18 from the events and transacllons ratlected In the finandal statemant8, the less elY Iha audllor18 fo b8come aware of It or to recognise the non-compllanc&. A further descriptlon of our re5ponslbilities is available on the Financial Reporting C(wncyl's w8bslte at: httP8Jl .frGorg.ukl8uditorsr8sponsibllities. This description form8 Part of our audltorfs report. Other mattèrs The fln8n¢lal stat8ments of The Bevern Trust for the year endad 31 Mardi 2023 w8r8 audtted by 8noth8r audltor who axpr8ss8d an unmothfled audlt oplnlon on thos6 flnanclal statem8nts. Use of our report Thls report Is made solely to the ¢harity'S truste6s, as a body, In attordanca whh part 4 of the Charlties (Accounts and R8POrts) Ragulatlons 2008. Our audit work has b6en undertaken so that we tnlght stste to the charllls trustees Ihose matt8rs we are requlr8d to state to them In an audltorfs report and for no other purpos8. To the fullést extent permitted by law, we do nol accepl or assume responsibllily lo anyone other than the charlty and the chariws trustees 8s a body, lor our 8udiiwork, for th18 report, or for the opinlon$ w8 have fom)ed, rwc Kr5stlna Pèrry FCCA (Senlor Statutory Auditor) for and on behalf of SumerAudit Chartered Accountants statutory Auditor Worthlng 2S SumerAutht Is the trading name of Sumer Audltco Limlted o-
THE BEVERN TRUST. STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Currant financlal year Unrestrlcted UnrestriGted funds funds general deslgnatod 2024 2024 Restrfcted funds Total Tot 2U24 2024 2023 Notes Incom6 and endowmgnts fram: Donatlons and legacles Charftable aotivilles Fundra181ng &v8nts Investments Oth8r irrcome 70.092 1,932.243 74,959 145.051 1832243 89,143 1,773,164 400 ao,803 &145 28,476 4.620 28,475 Total income 2,035,0 74,959 2,110,389 1.878,655 Expendlture on.. Ralsing funds Charifabla aGtivili88 Other expendltura 41,209 1,903,566 41,434 41.209 1,970,085 41,434 42,742 1,823,600 44.409 22,110 12 Total exp8ndlture 1,986209 44,409 22,110 2,052,728 1,866,342 Net gainsl{losses) on Investfflents 13 24,619 24,619 {1,722) Net In¢omel{expandltura) 73,840 (44,409) 52,849 82,280 10,591 Transfers behveen fvnds (55,122) 66,922 (11,800) Net mov•m8nt In funds 18,718 22,513 41,049 82,280 10,591 Raconcillatlon of funds: Fund balances 8t 1 April 2023 1,445,487 376,213 3,530 1,825,230 1,814,639 Fund balances at 31 March 2024 1,464,205 398,726 44,579 1,907,510 1,825,230 The 8tstemenl of financial actlvitlas inctudes 811 galns and losses recognlsed in the yaar. All Incomg and expenijilure dertV6 from continuing 8¢tlvllth. The ststement of fin8nc5al activities also complles with Ihe requlrements for an income 8nd expendilure account under the Companies Act 2008. 11
THE BEVERN TRUST STATEMENT OF FINANCIAL ACTIVITIES {CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 PYlfInancIal yèar Unrestrlcted Unrestrlcted funds funds general deslgnated 2023 2023 Restrlcted funds Total 2023 2023 Notas Income and ondowm8nt8 from: Donatlons and legacles Charltable activities Fundralslng events Inv8Stments Other income 75,240 1,773,164 400 10,803 5.145 13,903 89,143 1.Th3.164 400 10,803 5,145 Totsl Inryjme 1,864,752 13,903 1.878.655 Expènditure on: Relsing funds Charllab18 aGtlvllies 42,742 1,776,621 42,742 1,823.600 21,232 25,747 Total expondlturg 1,819,363 21,232 25,747 1,866,342 Net108se8 on investments 13 (1,722) {1,722) Net Incomel{expendlture) 43,667 121,232) {11,844) 10,591 Transfeys be8&n fvnds (82,868) 83,000 (134) Net movement in funds {39,199) 61,768 {11,978) 10,591 RecDncillatlon of funds: Fund balances at 1 April 2022 1,484,686 314,445 15,508 1,814.639 Fund balances at 34 March 2023 1,445,487 376,213 3,530 1.825.230 The slatemént of finan¢lal actlvittes indudes all galns and losse8 recognlsed tn th& year. All Incom8 and expenditure d8rfve from contlnuing a(*lvtties. The statèment of financlal activllies also complles with Éhe requlremenls for an income and expendleure account under the Compan188 Acl 2006. 12-
THE BEVERN TRUS.T BALANCE SHEET ASAT31 MARCH 2024 Fixed assfrts TanbItt asseta Inyffjlmenls Notss 5. f6 1.681.139. i,692.0'60 Current assels Debtors gh 4t ¥?DEg.p.d In h•0 1,905,76.1 1,892.063 è5,208 .91,6Y9 Credftor54 amounts falllng.du4 wllhln on&year 859,119 211,633 Netcuwant èS2.Q14 Tolal assets iw CYryPDt Ilablliileg 2,481,66e radltorn: amounts fa]11rt9 .du?.Aft•i mor8 than one year 1È>7J155 (656.436) 1,907&19. Th'ofvnd.$ of tb• ¢h'¥ritible'compatsy Restriclad 111MPlUnd .nrestricted fth- gènBral Unr8stricted fId$.. de8.tgnated 1,464205 23 1,445,'487 37Bi2.?3 1.,9£i.?tsqo Th6,finallcial sta'lemenli wero ap.pro.ved b¥the trti¥te8S ori .:_ bir,N.JF Houslon Trusteè Company w9tstrÉtion number, 4993720 LErtglahd aiW Wa188) -13-
THE BEVERN TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operatlng activities Cash genèrated from operations Interest paid 27 172,451 127.429 <56,879) Net cash Inflow from operating actlvltl6s 115,572 127,429 Invostlng actlvities Purchase of tangible fixed assets Investment income received 170,671) 28,475 {21,2321 10,803 Net cash used In Invosting activltles (42.196) (10,429) Financing actlvltles Repayment of bank loans <19,000} {24,164} Net cash used in financing actlvitles {19.000) {24,164} Not increase in cash and cash equivalents 54,376 92,836 Cash and cash equivalents at beglnnSng of year 709,537 616,701 Cash and cash equlvalents at end of year 763,913 709,537 14-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies Charity Informatlon The Bevern Trust is a private Company limited by guarantee incorporated in England and Wales. The registered office is Bevern View, The Willows, Barcombe, Lewes, East Sussex, BN8 5FJ. 1.1 Accountlng convention The financial statements have been prepared in accordance with the charitable company's articles of association, the Companies Act 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" {"FRS 102") and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charrtable company is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statemenls are rounded to the nearest £1. The financial slatements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the tlme of approving Ihe financial statements, the trustees have a r88s0nable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. The trustees have considered relevant information, including the charitable company's principal risks and UnrtaInlies, the annual budget, four year financial forecast and the impact of subsequent events in making their assessment. Based on these a8s88sments and having regard to the resources available to the entity, the trustees have concluded that Ihere is no material uncertainty and that they can continue to adopt the going concern basis in preparing th8 annual report and financial statements. 1.3 Charltable funds Unrestrided funds are available for use at the discretion of Ihe trustees in furtherance of their charitable objectives. Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are Set out in the notes to the financial statements. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charitable company is legally entitled to il after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 15-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Contlnued) Grants received are credited to the Statement of Financial Adivities when the charitable company has entitlement of the funds, performance conditions attached to the grants have be8n met, it is probably that the incom& will be received and the amounl can be measured reliably. If the income has been received and relates to a future specified period, in which case they are def8rred. Fees are charged for the provision of care provided to the resident clients under contracts arranged with Local Authorities and Primary Care Trusts. Fee income is accounted for when earned. 1.6 Expenditure Expenditure is recognised once there Is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation Gan be measured reliably. Expendilure is classified by actSvity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each aGtivity. Direct costs attributable to a single activity are allocated dlrectly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation Charges are allocated on the portion of the asset's use. Govemance costs includes those costs associated with meeting the constitutional and statutory requirements of the Gharitsble company and include the audit fees and costs Ilnked to the strategic management of the charitable company. 1.6 Tanglble flxed assets Tan9ible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost cr valuation of assets less their residual values over their Useful lives on the following bases: Freehold land and buildings Fixtur8s and fittings Motor vehicles Over 65 years straight line 200/0 Straight line 200k Straight line The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the carrying value of the asset, and Is recognised in the statement of financial activities. 1.7 Flxed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value al each reporting date. Changes in fair value are recognised in net incomell&xpenditurel for the year. Transaction costs are expensed as incurred. 1.8 Impalrment of flxed assets Al each reporting end date, the charitable company reviews Ihe carying amounts of its tangible assets to determine whether there is any indicalion that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the exlent of the impairment loss (if any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call wtth banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in Current liabilities. 16
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued} 1.10 Financlal instruments The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented In the flnanclal statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Baslc financial assets Basic financial assets, which Include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rats of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, includlng Creditors and bank loans are Initially recognised at Iransaction price unless the arrangement constitutes a financing transaction, where the debt instrumenl is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as p8yable within one year are not amortised. Debt instruments are subsequently carrled at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acqulred in the ordlnary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognltlon of flnanclal Ilabllltles Financial liabilities are derecognised when the charitsble company's contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday entitlement Is recognlsed in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to tenninate the employment of an employee or to provide termination benefits. 1.12 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 17-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Critical a¢¢ounUng estimates and judgements In the application of the charitable company's accounting policies, the Iruslees are required to make judgements, &stimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimatss. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the eslimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donations and legacles Unrestrlctod Restricted funds funds 2024 2024 Total Unrestrlcted Restrl¢ted funds funds 2023 2023 Total 2024 2023 Donations and gifts Grants received 70,092 48,759 26,200 118,851 26,200 75,240 8,413 7,490 81,653 7,490 70,092 74,959 145,051 75,240 13,903 89,143 Income from charitable actlvltles Unrostricted funds 2024 Unrestricted funds 2023 Charltable aetivitie8 Fees recelved for the care of residents 1,932,243 1.773,184 Income from fundralslng events Unrestricted Unrestrlcted funds funds 2024 2023 Fundraising events 400 18-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from Investments Unrestricted Unrestrlcted tunds funds 2024 2023 Interest receivable 28,475 10,803 other income Unrestricted Unrestrlcted funds funds 2024 2023 other Income 4,820 5,145 Expendlture on charltable actlvltles Charltable actlvltles 2024 Charltab18 actlvlties 2023 Care of residents and runnlng costs of care home Staff costs Depreciation and impairment Therapists Training and sundry staff expenses Recruitment and advertising Food and kitchen supplies Medical supplies and materials Laundry. linen and cleaning Educational supplies and outings Travelllng expenses Minibus running expenses Light, heat, water and rates Insurance General repairs and rnaintenance 1,532,527 40,159 21,361 21,984 5,292 33,248 21,293 7,661 24,446 3,110 13,813 68,117 29,266 39,555 1,450,574 44,240 21,382 16,610 16,017 56,888 (15,8751 7,514 12.553 5,678 11.407 52,679 25,698 30,234 1.861,842 1,735,599 Share of support and governance costs (see note 91 Support Governance 94,678 13.5e5 77,435 10,566 1,970,085 1,823,600 19-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expendlture on charitabl8 activities (Contlnued) Analysls by fund Unrestricted funds - general Unrestricted funds - designated Reslrtcted funds 1,903,566 44,409 22.110 1,776,821 21,232 25,747 1,970,085 1,823,600 Support costs allocated to activities Charltable activities 2024 Total 2023 Office costs Telephone External HR costs Bank Gharges Loan int8r8St Sofvare support costs Governance 7,184 3,398 4,183 111 56,879 22,924 13,565 5,110 3,086 3,540 124 39,746 25,829 10,566 108,244 88,001 2024 2023 Governance costs comprlse: Audlt fees Legal and professional 10,860 2,705 7,140 3,426 13,565 10,566 The expenditure for support and governance costs basis of allocation are direct. except staff costs which are based on time spent. Included in audit fees are fees of £2,160 in relation lo accountancy services. 10 Trustees None of the trustees (or any persons connected with them) received any emoluments through the payroll from the charitable company during the year. Trustees were reimbursed for expenses totalling £nil (2023.. £nil) -20-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Charitable activites Management and adrninistration of the charity 61 60 Total 67 65 Employment Gosts 2024 2023 Wages and salaries Social security Costs other pension costs 1.398,712 97,342 36,483 1,319,436 96,569 34,569 1,532,537 1,450,574 There were no employees whose annual remuneration was more than £80.000 In the current or CoMparaVe year. Remuneratlon of key management personnel The remuneration of key management personnel is as follows. 2024 2023 Aggregate compensation 143,930 151,907 12 Other expendltur8 Unrestrlcted Unrestrlcted funds funds 2024 2023 Net loss on disposal of tangible fixed assets 41,434 21
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Gains and losses on investments Unrestricted Unrestrlcted funds funds 2024 2023 Gainsl{lossesl arising on.. Revaluation of investments 24,619 (1,722} 14 Taxation The charlty Is exempt from tax on income and gains falling within section 505 of the TaxesAct 1988 or section 252 of the Taxational Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 15 Tanglble fixed assets Freehold land Fixture$ and •nd buildings Ilttlng$ Motor v•hi¢l•s Total Cost At 1 April 2023 Additions Disposals 1,937,613 38,837 (40,469) 297,731 22,034 {11,9571 87.864 2,303,008 9,800 70,671 (52,426) At 31 March 2024 1,935,981 307,808 77,464 2,321,253 Depreciation and Impalrment At 1 April 2023 Depreciation charged in the year Eliminated in respect of disposals 296,079 20,524 250,104 16,735 {10,992> 64,764 2,900 610,947 40,159 {10,992) At 31 March 2024 316,603 255,847 87,684 840,114 Carrying amount At 31 March 2024 1,619,378 51,961 9,800 1,681,139 At 31 March 2Q23 1,641,534 47,627 2,899 1,692.060 -22-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Fixed asset Investments Unlisted Investments Cost or valuation At 1 April 2023 Valuation changes 200,003 24,619 At 31 March 2024 224,622 Carrying amount At 31 March 2024 224,622 At 31 March 2023 200,003 17 D8btors 2024 2023 Amounts falling du8 Wlthln one year: Trade debtors Other debtors Prepayments and accrued income 3,253 3,968 87,985 3,452 2,881 85,386 95,206 91,699 18 Loans and overdrafts 2024 2023 Bank loans 657,264 676,264 Payable within one year Payable after one year 19,849 637,415 19,828 856,438 Amounts included above which fall due afler five years.. Payable by instalments 537,834 561,953 The long-temi loans are secured by a Ilxed legal charge with full title guarantee over Ihe freehold interest in Bevern View dated 2 February 2016 and a first legal charge with title guarantee over the treehold interest in Brooklands. Interest is charged on the loan at 3.5°/o over the Bank of England Base Rate. The loan is to be repaid by monthly instalments of interest only and from July 2020 by monthly instalments of Capital and interest as notified by the bank until the final repayment date. -23-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Creditors: amounts falling due wlthln one yoar 2024 2023 Note5 Bank loans Other taxation and social security Payments received on account Trade creditors Other creditors Accruals and deferred income 18 19,849 20,233 42,395 19,936 47,181 70,361 19,828 26,958 44,130 12,559 10,991 97,167 219,955 211,633 Payments received on accounts relate to resldent fees paid in advance. 20 Credltors: amounts falling due aftor more than one year 2024 2023 Notes Bank loans 18 637,415 656,436 21 Retlrement benefit schemes Defined contrlbutlon schemes The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held s8parately from those of the charitable company in an independently aéministered fund. The charge to profit or loss In respect of defined contribution schemes was £36,48312023- £34,569}. Contdbutlons totalling £583 (2023.. £9,208) were payable to the fund at the year end and are included in other creditors due within one year. -24-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Restrict8d funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 Aprll 2023 Incoming resources Resources expended Transfers At 31 March 2024 Friends of B8vern View Fund Restricled Gift Fund Minibus Fund 294 236 3,000 (237) (21,873) 57 2,563 41,959 26,200 48,759 (2,000) (9,800) 3,530 74,959 (22,110) {11,800) 44,579 Previous year: At 1 April 2022 Incomlng Resource$ resources expended Transfers At 31 March 2023 Friends of Bevern View Fund Restricted Gift Fund Minibus fund 459 15,049 (165) (25,582) 294 236 3,000 10,769 3,134 (134) 15,508 13,903 125,747) (134) 3,530 Frlends of Bevern Vlew Fund This represents donations and other monles raised by supporters of the Bevern View home. Payments from this fund are made for the benefit and welfare of the Bevern View residents. Restrlcted Glft Fund - This represents financial gffts to cover specific purchaseslcosts. Mlnlbus Fund - This represents financial gifts to cover specific cosls. Transfers between Funds - A transfer was made from the minibus fund to general reseNes of £9,800 (2023 £134), as well as a transfer from restricted gifts fund to general reserves of £2,000 (2023 - £nil). Both transfers were relating to the transfer of the value of tangible fixed assets from restricted to general funds when the assets had been purchased from restricted fund donations and grants but are held for a general and nol a reslricted purpose. -25-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23 UnTestrlcted funds . designated These are unrestricted funds which are matsrial to the charitable company's activities. At 1 April 2023 Resources expended Transfers At 31 March 2024 Brooklands Project Asset Replacement Fund Building Project (previously Activity Centre Project) Maintenance Fund Storage Project Fund 40,060 46,853 <40,0601 (1,041) 45,812 200,000 29,300 80,000 83,759 {13,2001 (2,5961 283,759 11.751 57,404 {4,349) 376,213 {44,409) 66,922 398,726 Prevlous year: At 1 April Resource8 2022 expended Transfers At 31 March 2023 Brooklands Project Asset Replacement Fund Activity Centre Project Maintenance Fund Slorage Project Fund 46,382 38,763 200,000 29,300 (6,322) (14,910) 40,060 46,853 200,000 29,300 60,000 23,000 60,000 314,445 <21,2321 83,000 376,213 Brooklands Project - The trustees have agreed to develop the neighbouring "Brooklands" property, which was acquired by the Trust in 2016. A designated project seed fvnd has been set up, to fund the initial stages of the project itself and also the fundraising project that will be needed to finance the development. Asset Replacement Fund A designated fund has been sel up, whlch will be a sinking fund lo replace operating fixed assets to run the Home. Activity Centre Project - A designated fund has been set up to fund a new activity centre. Bulldlng Project - Brooklands Project fund and Activity Centre Project fund have been merged to one single Building Projecl fund this year. Malntenance Fund - A designated fund has been set up to fund various Upming maintenance requirements for property and vehicles. Storage Project Fund A designated fund has been set up lo provide additional storage for the increasing amount of equipment for our residents, as they get older. Transfers between Funds Transfers were made from designated funds to general reserves relating to purchases of tangible fixed assets during the year of £63,078 (2023 - £nil). There is also a £130,000 (2023 - £83,OOOJ from general reserves to designated funds. -26-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Analysis of net assets bet¥veen funds Unrestrlcted Unrestrlcted funds funds general deslgnated 2024 2024 Rostricted funds Total 2024 2024 Fund balances at 31 March 2024 are reprosented by: Tangible assets 1,681,139 Investments 224,622 Current asselsl{liabilitiesl 195,859 Long term liabilities {637,415} 1,681,139 224,622 639,164 (637,415) 398,728 44,579 1,464,205 398,726 44,579 1,907,510 Unrestricted Unrostrlcted funds funds general designated 2023 2023 Restricted funds Total 2023 2023 Fund balances at 31 March 2023 are represented by: Tangible assets 1,692,060 Investments 200,003 Current assetsl{liabilitiesl 209,860 Long term liabilities (658,436) 1,692,060 200,003 589,603 (656,436) 376.213 3,530 1,445,487 376,213 3,530 1,825,230 25 Operatlng lease commltrnents Lessee At the reporting end date the charitable company had oulstanding commitments for future minimum lease payrnents under non-cancellable operating leases, which fall due as follows-. 2024 2023 thin one year Between and five years 6,745 2.248 6,745 8,994 8,993 15,739 During the year, the charitable company made payments under operating leases totaling £6,467 (2023.. £5.933}. -27-
THE BEVERN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 26 Related party transactions During the year the charitable company entered into the following transactions with related parties= Dr P Frost (trustee) has a son who is a pemianent resident at Bevern View. During the year the trust invoiced a total of £200.797 {2023 - £182,450) in respect of his residen¢y, of which £6,302 {2023 - £5,894) was invoiced to Dr P and Mrs H Frost and £194,495 (2023 - £176,756) was invoiced to Adult Social Care (East Sussex). At the year end £765 (2023 - £1,280} was outstanding from Dr P Frost. All transactions took place on an arm's length commercial basis. Ms S Schueler (trusteel has a son who is a permanent resident al Bevem View. £176,064 (2023 - £175.583) was billed to NHS Hastings & Rother in resped of his residency. At the year end £nil (2023 - £nil) was outstanding. All transactions took pla on an arm's length commercial basis. Reverend P Mundy (trusteel has a son who is a permanent resident at Bevern View. During the year the trust invoiced a total of £214,328 {2023 - £194,746) in respect of his residency, of which £6,302 (2023 £5,694) was invoiced to Irwin Mitchell LLP, in their Capacity as the Master Mundy's Deputy, and £208,024 (2023 £189,052) was invoiced to Adult Social Care (East Sussex). At the year end £483 (2023 £439) was outstanding from Irwin Mitchell LLP. All transactlons took place on an arms length commercial basis. 27 Cash generated from operatlons 2024 2023 Surplus for the year 82,280 10,591 Adjustments for: Finance costs Investment income recognised in statemenl of financlal activities Loss on disposal of tangible fixed assets Fair value gains and losses on investments Depreciation and impairmenl of tangible fixed assets 56,879 (28,4751 41,434 (24,6191 40,158 (10,803) 1,722 44,240 Movements In worklng capital.. {Increase)Idecrease in debtors Increase In creditors (3,507) 8,301 41,847 39,832 Cash generated from operations 172,451 127,429 28 Analysis of changes In net debt At 1 Aprll 2023 Cash flowsAt 31 March 2024 Cash at bank and in hand 709,537 54,376 763,913 Loans falling due within one year Loans falling due after more than one year {19,828) (656,436} (21) 19,021 (19,849) 1637.415) 33,273 73,376 106,649 -28-