2023-08-31-accounts - The Leaders Of Worship And Preachers Homes

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Trustees		D Hudson	(resigned	17March 2023)
		J Benfield
		C Braithwaite
		M Armitage
		J Chapman
		DJ C Greet	(appointed	17March 2023)
		G Evans	(appointed	17March 2023)
		JA Close-Mitchell	(appointed	6June 2023, and
			resigned	20October 2023)
Secretary		AJ Needham	(resigned	1 August 2023)
		SLee	(appointed	1 August 2023)
Charity number		1112378
Company	number	05467350
Registered	office	1 Winton Avenue
		Westcliff on Sea
		Essex
		SSO 7QU
Auditor		Gowers Limited
		The Old School House
		Bridge Road
		Hunton Bridge
		lgngs Langley
		Herts
		WD4 8SZ
Webaits		https://www. lwphomes. org.uk/
Solicitors		Moors Barlow
		The Oriel
		Sydenham Road
		Guildford GU1 3SR

It is the policy ofthe trustees to maintain	It is the policy ofthe trustees to maintain	It is the policy ofthe trustees to maintain	unrestricted	funds	funds	at a level to enable the charity to operate	effectively.	effectively.
The trustees consider that the unrestricted			reserves	should		ideally be maintained at a level equivalent	to	at least
3months'	running	costs to enable an orderly wind down			in	the event ofthe charity's closure. This amount		would
currently	be F719,000 (2022:6639,000).
Our total reserves		are				F3,499,133
Ofwhich:
Amount	restricted	to donor nominated purposes				628,515
Amount	capitalised in tangible fixed assets					F4,063,565
Amount	required	to fund pension deficit				(61,475,000)
Amount	allocated	to capital reserve				F310,000
Amount	available	to meet current operations				6572,053

		Unrestricted	Unrestricted	Restricted	Total	Total
		funds	funds	funds
		general	designated
		2023	2023	2023	2023	2022
		6	6	6	5
Income from:
Donations and gifts		186,082		2,119	188,021	118,088
Charitable activities		3,092,467			3,092,467	2,751,950
Investments		8,568		478	9,046	1,534
Total income		3,287,117		2,597	3,289,714	2,871,572
~ECht
Raising funds	6	7,863			7,863	5,366
Charitable activities	7	2,839,407		10,943	2,850,350	2,529,683
Totalresources
expended		2,847,270		10,943	2,858,213	2,535,049
Net gains/(losses)	on
investments	11	(18,128)			(18,128)	(19,271)
Net movements
before transfers		421,719		(8,346)	413,373	317,252
Gross transfers		(329,234)	318,822	10,412
Net incoming/(outgoing)		92,485	318,822	2,066	413,373	317,252
Other recognised	gains and	losses
Actuarial gain/(loss)
on defined benefit			(177,822)		(177,822)	481,804
Net movement in	funds	92,485	141,000	2,066	235,551	799,056
Fund balances at
1 September 2022		4,543,133	(1,306,000)	26,449	3,263,582	2,464,526
Fund balances at
31August 2023		4,635,618	(1,165,000)	28,515	3,499,133	3,263,582

						2023	2022
					Notes	5
Fixed assets
Tangible assets					12	4,063,565	4, 134,911
investments					13	604,160	431,590
						4,667,'725	4,566,501
Current assets
Stocks					14	6,455	7,925
Debtors					15	14,287	80,835
Cash at bank and			in	hand		854,500	935,586
						875,242	1,024,346
Creditors:	amounts			falling due
within one	year				17	(185,100)	(201,130)
Net current	assets					690,142	823,216
Total assets less			current liabilities			5,357,867	5,389,717
Creditors:	amounts			falling due after
more than	one	year			18	(383,734)	(670,135)
Provisions	for	liabilities				(1,475,000)	(1,456,000)
Net assets						3,499,133	3,263,582
Income funds
Restricted funds ~Ut df		d			20	28,515	26,449
Designated	funds				22	(1,165,000)	(1,306,000)
General unrestricted				funds		3,980,738	3,888,253
Revaluation	reserve					654,880	654,880
						3,470,618	3,237,133
						3,499,133	3,263,582

C Braithwaite	J Benfield
Trustee	Trustee


					Notes	f		8
Cash flows from operating			activities
Cash generated from operations					25		468,893		265,957
Investing	activities
Purchase	oftangible fixed assets					(92,800)		(63,129)
Capital invested						(170,000)
Investment	income received					9,046		1,534
Net cash (used in)/generated			from
investing	activities						(253,754)		(61,595)
Financing	activities
Proceeds	ofnew bank loans							104,026
Repayment	ofbank loans					(296,225)		(32,318)
Net cash generated from/(used				in)
financing	activities						(296,225)		71,708
Net increase in cash and cash				equivalents			(81,086)		276,070
Cash and	cash equivalents	at beginning			ofyear		935,586		659,516
Cash and	cash equivalents		atend of		year		854,500		935,586

Donations	and legacies	and legacies
		Unreshicted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		general			general
		2023	2023	2023	2022	2022	2022
			6	6	6	F	f
Donations	and gifts	26,082	2,119	28,201	37,375	80,713	118,088
Legacy		160,000		160,000
Infection control and
other grants						33,780	33,780
		186,082	2,119	188,201	37,375	114,493	151,868

				Provision ofcars	Provision of
				homes	care homes
				2023	2022
				5	6
Resident	Fees -	Local Authority	funding	493,641	478,861
Resident	Fees -	Private funding		2,554,176	2,090,023
Respite	Care			44,554	145,520
Ancillary	trading	income		96	3,766
				3,092,467	2,718,170

Unresb icted	Unrestricted
funds general	funds
	general
	2022
	F
9,046	1,534

						Unresbf ctsd	Unrestricted
						funds	funds
						general	general
						2023	2022
						6	f
	Fundraisin	and		ublici
	Publicity					2,340	2,160
	Press advertising					2,437	856
	Website costs					425	334
	Fundraising	and		publicity		5,202	3,350
	Investmsnt	mana		ament		2,661	2,016
						7,863	5,366
7	Charitable	acgvities
						Charitable	Charitable
						Expenditure	Expenditure
						2023	2022
						6
	Staff costs					1,824,200	1,681,000
	Depreciation	and		impairment		164,145	160,339
	Operational	costs				213,719	151,490
	Pension rectification				costs	130,189	81,227
	Staff welfare					9,853	6,427
	Recruitment	costs				14,575	4,915
	Staff training					9,120	4,580
	Premises costs					100,262	94,686
	Insurance					41,709	36,511
	Repairs					65,294	71,298
	Telephone					13,619	13,399
	Board and committee				expenses	2,719	1,437
	Communication		and		computer costs	37,283	26,789
	Maintenance	contracts				56,533	51,660
	Other charitable			expenditure		60,024	55,437
						2,743,244	2,441,195
	Share ofgovernance				costs (see note 8l	107,106	88,488
						2,850,350	2,529,683

Analysis	by fund	by fund
Unrestricted		funds - general				2,839,407	2,388,571
Unrestricted		funds -designated
Restricted		funds				10,943	186,070
						2,850,350	2,529,683
Support	costs
		Support	Governance	2023	Support	Governance	2022
		costs	costs		costs	costs
		f	f	f	f	f	f
Audit and	accountancy
fees			9,716	9,716		9,604	9,604
Legal and	professional
fees			97,390	97,390		78,884	78,884
			107,106	107,106		88,488	88,418
Analysed	between
Charitable		activities	107,106	107,106		88,488	88,418

Employment costs	2023f
Wages and salaries	1,651,520	1,528,488
Social security costs	127,754	114,676
Other pension costs	36,845	37„838
	1,816,119	1,681,000

					Unrestricted	Unrestricted
					funds	funds
					general	general
					2023	2022
					6	6
	Revaluation	of investments			(18,127)	(19,271)
12	Tangible fixed assets
				Freehold Land	Fixtures snd	Total
				snd Buildings	Fittings
				8	8
	Cost or valuation
	At 1 September 2022			4,819,311	655,560	5,474,96'l
	Additions			30,024	62,776	92,800
	At 31 August	2023		4,849,335	718,426	5,567,761
	Depreciagon	and impairment
	At 1 September 2022			728,847	611,204	1,340,051
	Depreciation	charged	in the year	141,384	22,761	164,145
	At 31 August	2023		670,231	633,965	1,504,196
	Carrying amount
	At 31 August	2023		3,979,104	64,461	4,063,565
	At 31 August	2022		4,0e0,454	44,446	4,134,910

					Listed
					investments
					5
	Cost or	valuation
	At 1 September 2022				431,590
	Additions				170,000
	Valuation	changes			5,139
	Fees				(2,569)
	At 31 August		2023		604,160
	Carrying	amount
	At 31 August		2023		604,160
	At 31 August		2022		431,590
14	Stocks
				2023	2022
				6	6
	Consumables			6,455	7,925
15	Debtors
				2023	2022
	Amounts	falling due within one year:			6
	Trade debtors			14,014	74,802
	Prepayments		and accrued income	273	5,033
				14,287	80,835

18	Loans and overdrafls
				2023f	2022 f
	Bank loans			411,724	707,950
	Payable within one year			27,990	37,815
	Payable after one year			383,734	670,135
	Amounts included above which fall due after five years;
	Payable by instalments			246,461	497,519
	One ofthe loans induded	above (2022) wss fully repaid	in January 2023.
17	Creditors: amounts falling due within one year
			Notes	2023 f	2022f
	Bank loans		16	27,990	37,815
	Other taxation and social secudity			28,733	25,190
	Government grants				55,076
	Trade creditors			100,821	74,237
	Accruals and deferred income			27,556	63,888
				185,100	201,130
18	Creditors: amounts falling due after more than one year
			Notes	2023f	2022 f
	Bank loans		16	383,734	670,135

Key assumptions
										2023	2022
										'/0	0/
Discount rate										5 13%	3 97%
Expected rate ofincrease ofpensions in payment										3.28%	3.19%
RPI inflation rate										3 130/	335%
Pension increase	in	deferment								5.00%	5 PP%
Mortality assumptions
The assumed life	expectations					on retirement			at age 60are:
										2023	2022
										Years	Years
Retiring today
-Males										85.8	86.4
-Females										88.5	89.0
Retiring in 20years
- Males										86.9	87.5
-Females										89.6	90.2
Amounts recognised			in the profit				and	loss account;
										2023	2022
										6	8
Past service cost										87,000
Net interest on defined benefit					liability/(asset)					55,000	35,000
Rsmeasurements	recognised				in other comprehensive income:
										2023f	2022
Return on scheme assets excluding								interest	income	(788,000)	(1,399,000)
Effect ofchanges	in	assumptions					gain/(lass)			769,000	1,950,000
Effect ofexperience		adjustments					gain/(loss)			(16,000)	(35,000)
Total remeasurement			gain/(lose)							(35,000)	516,000
The amounts included			in	the balance				sheet arising from the charity's obligations
in respect ofdefined			benefit plans are ss follows:
										2023	2022
										f	8
Present value ofdefined				benefit		obligations				3,916,000	4,525,000
Fair value ofplan	assets									(2,441,000)	(3,069,000)
Deficit in scheme										1,475,000	1,456,000

Movements in the present	value	ofdefined	ofdefined	benefit	benefit	obligations:
								2023
Liabilities at 1 September	2022							4,525,000
Benefits paid								(120,000)
Effect ofchanges in assumptions			(gain)/loss					(769,000)
Effect ofexperience adjustments			(gain)/loss					16,000
Interest cost								177,000
Past service cost								87,000
At 31 August 2023								3,916,000
The defined benefit obligations		arise from plans			which are wholly or partly funded.
Movements in the fair value ofplan assets:
								2023
Fair value ofassets at 1 September 2022								3,069,000
Interest income								122,000
Return on plan assets (excluding			amounts	included		in net interest)		(788,000)
Benefits paid								(120,000)
Contributions by the employer								158,000
At 31 August 2023								2,441,000
Reconciliation offunded position:
							2023 6	2022f
Net defined benefit liability	at start ofperiod						(1,496,000)	(2,092,000)
Expense recognised in profit and			loss				(142,000)	(35,000)
Gain/(loss) recognised in other comprehensive					income		(35,600)	516.800
Contributions made by the	charity						158,000	155,000
Net defined benefit liability	at the		end ofthe	period;			(1,475A00)	(1,456,000)
The fair value ofplan assets at the reporting				period		end was as follows:
							2023 6	2022f
Equity instruments							124,000	1,118,000
Corporate bonds							243A00	525,000
Liability Driven Investments							1,605,000	947,000
Cash							49„000	11,000
Insured pensioners							420,000	468,000
							2,441,000	3,069,000

					Movement	in funds
				Balance at	Incoming Resources	expended	Tmnefals	Balance st
			1	September	resources			31 August
				2022f				2023 f
Amenities	—Minehead			12,189	927	(4,964)	5,926	14,078
Amenities	—Westcliff			4,073	1,326	(1,765)	1,780	5,414
Amenities	-Woodhall	Spa		10,187	344	(4,214)	2,706	9,023
				26,449	2,597	(10,943)	10,412	28,515

Analysis ofnet assets between	Analysis ofnet assets between	funds
		Unrestricted funds	Designated	Restricted	Total
			funds	funds
		2023f	2023f	2023f	2023 f
Fund balances at 31	August
2023 are represented	by:
Tangible assets		4,063,565			4,063,565
Investments		604,160			604,160
Current assets/(liabilities)		351,627	310,000	28,515	690,142
Lang term liabilities		(383,734)			(383,734)
Provisions and Pensions			(1,475,000)		(1,475,000)
		4,635,618	(1,165,000)	28,515	3,499,133
		Unrestricted funds	Designated	Restricted	Total
			funds	funds
		2022	2022	2022	2022
		f	f	f	f
Fund balances at 31	August
2022 are represented	by:
Tangible assets		4,134,911			4,134,911
Investments		431,590			431,590
Current assets/(liabilities)		646,767	150,000	26,449	823,216
Long term liabilities		(670,135)			(670,135)
Provisions and Pensions			(1,456,000)		(1,456,000)
		4,543,133	(1,306,000)	26,449	3,263,582

			Movement	infunds
		Balance at	Incoming resources Resources	expended	Transfers	Balance at
		1 Septelllber				31August 2023
		2022f	F	F
Capital	reserves	150,000	160,000			310,000
Pension	reserve	(1,456,000)	158,822		(177,822)	(1,475,000)
		(1,306,000)	318,822		(177,822)	(1,165,000)

								2023	2022
								6
	Within one year							7,190	9,084
	Between two and	five years						22,220	14,273
	Over five years							2,438	4,627
								31,848	30,790
25	Cash generated	from	operations					2023	2022
	Surplus for the year							413,373	317,252
	Adjustments for:
	Investment income recognised			in statement offinancial		activities		(9,046)	(1.534)
	Fair value gains and losses on			investments				(2,570)	19,271
	Depreciation and	impairment oftangible			fixed assets			164,145	160,339
	Pension recovery	cash	contributions					(158,822)	(154,196)
	Movements in working		capital:
	Decrease/(increase) in stocks							1,470	(2,214}
	(Increase)/decrease in		debtors					66,548	(67,588)
	Increase/(decrease) in		creditom					(6,205)	(5.373)
	Cash generated	from	operations					468,893	265,957
26	Analysis ofchanges		in net funds/(debt)
							At 1 September	Cash flows	At 3'I AUgUSt
							2022 6		2023f
	Cash at bank and	in hand					935,586	(81,086)	854,500
	Loans falling due	within one year					(37,815)	9,825	(27,990)
	Loans falling due	after	more than one year				(670,135)	286,401	(383,734)
							227,636	215,140	442,776