REGISTERED COMPANY NUMBER: 05814727 (England and Wales) REGISTERED CHARITY NUMBER: 1116001
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 June 2023
for
## WALSINGHAM CARE
BWBCA Limited Dukes Court Duke Street Woking Surrey GU21 5BH
WALSINGHAM CARE
Contents of the Financial Statements for the Year Ended 30 June 2023
||Page|
|---|---|
|Report of the Trustees|1 to 6|
|Independent Examiner's Report|7|
|Statement of Financial Activities|8|
|Balance Sheet|9 to 10|
|Notes to the Financial Statements|11 to 19|
## WALSINGHAM CARE (REGISTERED NUMBER: 05814727)
## Report of the Trustees for the Year Ended 30 June 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2023. The trustees have adopted the provisions of 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).
## OBJECTIVES AND ACTIVITIES
## Objectives of the charity
The objectives of the charity are:
- To facilitate and promote the relief and care of the dying;
- To provide or facilitate education and training in the care of the dying.
The trustees consider that the objects are wide in scope, and could cover not only 'last weeks' care but also support and assistance in an older person's twilight years.
## Public benefit
The charity exists to serve a wide range of people at a difficult time of their lives by augmenting the resources available to help them find appropriate levels of care and support.
In providing support, there are no constraints on faith or background but the charity generally will endeavour to do so, where such care and support cannot be provided from publicly funded bodies. The trustees view their role as being to augment rather than be a primary provider of financial and other support and for this reason, we often work in cooperation with other charities.
The trustees are particularly convinced of the need for this type of support at this time of wide financial cutbacks and growing appreciation of problems including those arising from recovery from the pandemic, the cost of living crisis, as well as issues relating to social isolation and loneliness.
The trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard for the commission's guidance on public benefit.
1
## WALSINGHAM CARE (REGISTERED NUMBER: 05814727)
## Report of the Trustees for the Year Ended 30 June 2023
## OBJECTIVES AND ACTIVITIES
## Grant making
Grants are approved on application to the charity against criteria agreed by the trustees. All grants are considered by the manager or assistant manager and at least one trustee. The criteria are more fully set out on the charity's web site - www.walsinghamcare.org.uk.
Approved grants can either be a fixed sum towards something to improve the quality of life of the beneficiary or a contribution to ongoing respite care and/or support costs.
During the year, grants were made to 148 people for 'quality of life support grants' including grants for the purchase of white goods, flooring, specialist disability equipment, short term respite care or home adaptations. In addition, these grants indirectly supported 95 people.
Within the year, 7 pieces of specialist equipment were re-homed to new owners, once no longer required by the original grantee.
For 'ongoing respite and support', grants were made to 91 people including grants for stair-lift hire, carer fees, nursing home fees, dementia group attendance, cleaning and community alarm costs. These grants indirectly supported a further 77 people.
There were 95 people who were supported in ways other than financially during the year, including directing those individuals towards other organisations in order for them to access relevant help and support.
Accordingly, our reach for the year can be summarised as follows:
|GrantType|Direct|Indirect|Total|
|---|---|---|---|
|Quality of Life|148|95|243|
|Ongoing Support|91|77|168|
|Other Non-Financial|95|-|95|
|Total|334|172|506|
'Donations to other organisations' is made up of amounts payable to 33 organisations, including Crossroads, CHEER, Parkinson's Group, EBC Dementia Services, EBC Adult Social care, EBC community centres x 8, EBC Care and repair, Kingston Advocacy group, St Peter's church West Molesey, St Peter's church Hersham, St Mary's church Long Ditton, The Princess Alice Hospice, Rentstart, SSAFA, Cobham bereavement café, Elmbridge Community link, Whiteley Village clubs x 5, Silver and Gold Club, Lower Green community centre, Thames Sailability, CAB East Elmbridge and CAB West Elmbridge.
The analysis of the total spend in these 3 categories is shown in the Statement of Financial Activities on page 7. Although grants are paid directly to organisations, these grants are paid on behalf of individuals and therefore, no further information is disclosed on the organisations to which monies are paid. The amounts paid in donations to organisations are not considered to be material to the charity's activities, so no further analysis is included. More information on this is shown below in the 'achievements and performance' section.
2
## WALSINGHAM CARE (REGISTERED NUMBER: 05814727)
## Report of the Trustees for the Year Ended 30 June 2023
## ACHIEVEMENT AND PERFORMANCE
## Achievements and performance
The trustees have decided to use some of the investment gains built up over the past few years to further the mission of the Charity and increase the level of grant-making, given the greater need for support resulting from the challenges highlighted earlier. As will be seen from these financial statements, our income was £231,111 and we made grants of £396,047. In light of the present local needs and economic circumstances, this level of spending is expected to continue.
The charity has achieved the following during the year:
Grants and donations in support of the charitable purposes were £396,047 (2022 - £300,466). The trustees attempt to ensure a balance of funding for grants and generally limit ongoing grants to between 50%-60% of expenditure. As previously stated, Government policies concerning care in the community have led to an increase in grants in the areas of one-off support, such as providing equipment or converting homes to suitable living space to support those in need of care, and the trustees expect this trend to continue.
During the year, the trustees have continued to consider the issues surrounding social exclusion and the best way to support those working in this area. As noted above, some of the grants to other organisations also support this aspect of our work.
During the year, £17,000 of restricted income was received in order to support ad-hoc grants; £11,500 of these funds were spent in the year.
The grants made in the 2022-23 year can be allocated as stated below (with prior years for purposes of comparison-):-
|Year|Ad Hoc|Regular|Other|Social|Total|
|---|---|---|---|---|---|
||||Organisations|Isolation||
||£|£|£|£|£|
|2017-18|72,060|59,185|6,290|-|137,535|
|2018-19|67,410|74,516|11,889|-|153,815|
|2019-20|74,264|99,557|15,485|11,584|200,890|
|2020-21|72,478|108,814|5,076|26,250|212,618|
|2021-22|94,132|154,259|13,000|39,075|300,466|
|2022-23|156,271|158,101|8,500|73,175|396,047|
The charity has continued to build a network of contacts to ensure that it is well known and the success of this is borne out by the continuing high level of applications being received and funded.
3
## WALSINGHAM CARE (REGISTERED NUMBER: 05814727)
## Report of the Trustees for the Year Ended 30 June 2023
## FINANCIAL REVIEW
## Investment policy
The trustees have the power to invest in such assets as they see fit. The charity has adopted a total return policy as a yardstick against which to judge performance. To achieve this, the funds continue to be split between two fund managers. The year has resulted in realised gains of £116,061 and unrealised gains of £72,636 (2022 - net losses of £449,851).The net movement of £188,698 included within the Statement of Financial Activities is after investment managers charges of £19,460.
During the year, investment income was £214,083 (2022 - £219,176) or 2.9% (2022 - 2.9%) of the average value of the funds held for the year. On the same basis, investment management fees amounted to 0.26% (2022 - 0.29%).
The historical cost value of the investments at 30 June 2023 was £4,185,888 with a market value of £7,332,122. To supplement the investment income, the trustees have also adopted regular disposals of investments to cover the increased commitment in grant making.
## Policy on holding reserves
The reserves policy is considered annually as the trustees review the work of the charity and its forward plans. Investments are held by the charity to provide income for the charitable support provided. As the fund grows, our income grows, enabling the trustees to support more qualified projects and applications; consideration is given to realising some part of the gains for further increase in grant expenditure.
Although our current reserves are considerable, as already mentioned, as well as funding spending from income, there has in recent years been recourse to accumulated gains.
The trustees consider that the investment funds should generate a return to enable the charity to operate and provide grants. Assuming a fund of approximately £7m, a return of between 2.5% to 3.5% would enable the charity to distribute £175,000 to £245,000 per annum. Actual returns will depend on investment performance and decisions taken to cash investments for specific projects or support activities.
## Restricted reserves
The restricted funds represent the unspent balance of funding provided for specific purposes and it is intended to be spent in full during the 30 June 2024 year.
## Going concern
The financial statements of the charitable company have been prepared on a going concern basis as the trustees have assessed the going concern position and have no reason to believe that there are any material uncertainties that would affect the ability of the charitable company to continue as a going concern for the foreseeable future. The trustees have carefully considered the future cashflow requirements covering the next 12 months and have reviewed forecasts for that period in making their assessment.
## Review of activities
Our activities are funded by investment income, plus the occasional legacy and donation. The investment portfolio is invested with two managers and is more geared to income generation than capital appreciation. The trustees have adopted regular disposals of investments to cover the increased commitment in grant making.
The Statement of Financial Activities for the year shows a net deficit of £275,791 (2022 - £143,308) before movement on investments.
The largest costs of the charity, other than grants, are its support and payroll costs and the investment management fees. The trustees regard these costs as reasonable when assessed in the context of its activities.
4
## WALSINGHAM CARE (REGISTERED NUMBER: 05814727)
## Report of the Trustees for the Year Ended 30 June 2023
## FUTURE PLANS
Our future plans will focus on :-
- Our traditional grant giving activities; this includes respite care, top up fees for Care Home stays and assistance with making homes more suitable for elderly or disabled people. In this regard, we will be reviewing the level of grants we are able to make.
- Further developing our approach to Social Isolation in the form of grants to organisations engaged in such work and this funding will be supported by general funds.
The trustees will supplement their policy of maximising the investment income with a policy of regular disposals of investments to cover the increased commitment in grant making.
## STRUCTURE, GOVERNANCE AND MANAGEMENT
## The scheme
The charity is controlled by its governing document, the Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The Charity evolved from The Home of Compassion which operated a nursing home in Thames Ditton. The nursing home was sold in 2008 and the funds received are now used to promote support in the community as provided for by our charity objectives.
## Organisation and Management
The charity is run by the Chief Operating Officer, Debbie Beach, who reports regularly to the trustees. Trustee meetings are held at least four times a year to review progress. An applications team meets as necessary to consider and approve grant applications.
Our Chief Operating Officer is assisted by a Grants Manager (Yvonne Clarke) and a part time Administrator (Julie Crook).
## Governance and internal control
At the year-end there were seven trustees: three nominative trustees appointed by the Bishop of Guildford as Patron; and four co-opted trustees, appointed by the existing trustees. The usual term of office is three years, after which they are offered the opportunity to continue for a further three-year term. Should they and their colleagues so wish, the terms of office can be extended beyond this period with the consent of the trustees.
The trustees are persons who, through residence, occupation or employment or otherwise, have special knowledge of the charity or the local community. Regular trustee meetings address the financial position of the charity and consider the investments; since the year end, we have formed a separate Finance & Investment Committee.
The Chief Operating Officer manages the charity on a day-to-day basis and is responsible for implementing a set of internal controls suitable for the organisation. In terms of accountability, the Chief Operating Officer is in regular weekly contact with the chairman and with another trustee on grant and operational matters.
Appointment, resignation and retirement of the board of trustees is in line with governing document.
## Risk review
The trustees annually review the major risks which the charity faces and believe that the unrestricted reserves at the levels stated in the reserves policy above will provide sufficient resources in the event of adverse conditions. The trustees have examined the operational and business risks which the charity faces and confirm that they are satisfied that systems and controls are established over key financial systems to mitigate any significant risks.
5
WALSINGHAM CARE (REGISTERED NUMBER: 05814727)
## Report of the Trustees for the Year Ended 30 June 2023
## REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 05814727 (England and Wales)
Registered Charity number 1116001
Registered office
C/O BWBCA Limited Dukes Court Duke Street Woking Surrey GU21 5BH
## Trustees
Mr I R Ford LLB - Chairman Mr R D Hewitt FCA Mrs N J Shaw Mrs T Shipley Ms R M Bruce Ms P M Murphy Rev Dr K Satkunanayagam
## Independent Examiner
BWBCA Limited Dukes Court Duke Street Woking Surrey GU21 5BH
Solicitors
Russell-Cooke 2 Putney Hill Putney London SW15 6AB
## Bankers
National Westminster Bank PLC 1 High Street Woking GU21 6BG
Approved by order of the board of trustees on 20[th] March 2024 and signed on its behalf by:
Mr I R Ford - Trustee
6
Independent Examiner's Report to the Trustees of Walsingham Care
## Independent examiner's report to the trustees of Walsingham Care ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2023.
## Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
P Williams
BWBCA Limited Dukes Court Duke Street Woking Surrey GU21 5BH
20[th] March 2024
7
## WALSINGHAM CARE
## Statement of Financial Activities for the Year Ended 30 June 2023
|Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Investment income
3
Total
EXPENDITURE ON
Administration expenses
Charitable activities
Ongoing respite and support grants
Quality of life support grants
Donations to other organisations
Grants payable
Other
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD|Unrestricted
funds
£
28
214,083
214,111
78
158,101
129,771
81,675
-
110,777
480,402
188,697
(77,594)
7,491,857
7,414,263|Restricted
funds
£
17,000
-
17,000
-
-
26,500
-
-
-
26,500
-
(9,500)
15,000
5,500|30.6.23
Total
funds
£
17,028
214,083
231,111
78
158,101
156,271
81,675
-
110,777
506,902
188,697
(87,094)
7,506,857
7,419,763|30.6.22
Total
funds
£
28,263
219,176
247,439
-
154,259
94,132
-
52,075
90,281
390,747
(449,851)
(593,159)
8,100,016
7,506,857|
|---|---|---|---|---|
## CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
8
## WALSINGHAM CARE (REGISTERED NUMBER: 05814727)
## Balance Sheet 30 June 2023
|Notes
FIXED ASSETS
Tangible assets
10
Investments
11
CURRENT ASSETS
Debtors
12
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
14
Unrestricted funds:
General fund
Designated Fund for Social Exclusion Issues
Restricted funds
TOTAL FUNDS|Unrestricted
Restricted
funds
funds
£
£
2,533
-
7,332,122
-
7,334,655
-
38,347
-
52,391
5,500
90,738
5,500
(11,130)
-
79,608
5,500
7,414,263
5,500
7,414,263
5,500|30.6.23
Total
funds
£
2,533
7,332,122
7,334,655
38,347
57,891
96,238
(11,130)
85,108
7,419,763
7,419,763
7,414,263
-
7,414,263
5,500
7,419,763|30.6.22
Total
funds
£
1,050
7,412,884
7,413,934
52,018
60,295
112,313
(19,390)
92,923
7,506,857
7,506,857
7,468,766
23,091
7,491,857
15,000
7,506,857|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
9
## WALSINGHAM CARE (REGISTERED NUMBER: 05814727)
## Balance Sheet - continued 30 June 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 20[th] March 2024 and were signed on its behalf by:
Mr I R Ford - Trustee
The notes form part of these financial statements
continued...
10
WALSINGHAM CARE
## Notes to the Financial Statements for the Year Ended 30 June 2023
## 1. ACCOUNTING POLICIES
## Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Walsingham Care is a charitable company, limited by guarantee, incorporated in England and Wales. The address of the registered office is given in the reference and administrative details on pages 4 & 5. The charity's administrator operates from an address in Churchfield Road, Walton on Thames. The charity constitutes a public benefit entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.
The significant accounting policies applied in the preparation of the accounts are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': - the requirement of Section 7 Statement of Cash Flows.
## Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, where it is probable that the income will be received and the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.
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 before entitlement can be obtained then income is deferred until those conditions 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.
Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Interest income is recognised using the effective interest method and dividend income is recognised as the charity's right to receive payment is established.
## Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. All expenditure is recognised inclusive of VAT, where VAT applies.
continued...
11
WALSINGHAM CARE
## Notes to the Financial Statements - continued for the Year Ended 30 June 2023
## 1. ACCOUNTING POLICIES - continued
## Expenditure
All grant expenditure is accounted for on an actual paid basis plus an accrual for grants which have been approved by the trustees at the year end and which are capable of being paid. Grants offered subject to conditions which have not been met at the year-end date are noted as commitments but not accrued as expenditure. Grants payable to third parties are within the charitable objectives.
## Raising funds
Raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities, events and non-charitable trading.
## Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently they are measured at fair value with changes recognised in the Statement of Financial Activities if the shares are publicly traded or their fair value can otherwise be measured reliably.
## Support cost allocation
Support costs are those that assist the work of the charity but do not directly represent charitable activities. Support costs include management or 'back office' costs (including personnel costs), finance and governance costs which support the charity's programmes and activities. Governance costs are those that relate to the management of the charity's assets and to the administration and compliance with constitutional and statutory requirements. Where support costs cannot be directly attributed to particular headings, they have been allocated to expenditure on charitable activities on a basis consistent with use of resources. The allocation of support costs is set out in note 4.
## Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.
Other assets costing less than £100 are written off on acquisition and any other assets would be depreciated over their estimated useful working life on a straight line basis. The useful lives adopted range from 3 years to 10 years.
## Taxation
The charity is exempt from corporation tax on its charitable activities.
## Fund accounting
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 can be unrestricted funds, but have been set aside to be used for specific purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund.
## Provisions
Provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement, and the amount can be estimated reliably.
## Pensions
The charity operates a defined contribution pension scheme for the benefit of its employees. The assets of the scheme are held separately from those of the charity. Contributions are expensed as they become payable.
continued...
12
WALSINGHAM CARE
## Notes to the Financial Statements - continued for the Year Ended 30 June 2023
## 1. ACCOUNTING POLICIES - continued
## Investments
Investments are included in the Balance Sheet at bid-market value. Gains and losses on disposal and revaluation of investments are credited or charged to the Statement of Financial Activities.
## Donated services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time given to the charity is not recognised and refer to the trustees’ annual report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## Financial instruments
The charity only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and investments in non-putative ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method.
## Cash and cash equivalents
Cash and cash equivalents include cash in hand and cash deposits with financial institutions that are readily convertible to known amounts of cash with insignificant risk of change in value.
## Debtors and creditors receivable/payable within 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.
## 2. DONATIONS AND LEGACIES
## 3.
|DONATIONS AND LEGACIES||||
|---|---|---|---|
|Donations
Walton Charity
INVESTMENT INCOME
Interest received
Other Income
Investment income|30.6.23
£
28
17,000
17,028
30.6.23
£
450
-
213,633
214,083|30.6.22
£
1,263
27,000
28,263
30.6.22
£
14
200
218,962|30.6.22
£
1,263
27,000|
||||28,263|
|||219,176||
continued...
13
## WALSINGHAM CARE
## Notes to the Financial Statements - continued for the Year Ended 30 June 2023
## 4. SUPPORT COSTS
|Management
£
Other resources expended
77,325
Support costs, included in the above, are as follows:
Management
Wages
Social security
Pensions
Insurance
Telephone, internet & website
Postage and stationery
Sundries
Office hire
Staff training
Travel
Legal & professional
Accountancy
Computer costs
Finance
Investment portfolio management
Bank charges
Depreciation of tangible fixed assets
Governance costs
Wages
Pensions
Independent examiners fee|Governance
Finance
costs
£
£
20,337
13,115
30.6.23
Other
resources
expended
£
57,213
634
828
854
1,881
391
1,319
1,916
426
2,640
63
6,310
2,850
77,325
30.6.23
Other
resources
expended
£
19,460
398
479
20,337
30.6.23
Other
resources
expended
£
11,339
276
1,500
13,115|Totals
£
110,777
30.6.22
Total
activities
£
45,921
9
894
683
704
293
2,011
1,588
258
2,679
7
5,981
1,631
62,659
30.6.22
Total
activities
£
21,613
218
256
22,087
30.6.22
Total
activities
£
3,936
99
1,500
5,535|
|---|---|---|
continued...
14
## WALSINGHAM CARE
## Notes to the Financial Statements - continued for the Year Ended 30 June 2023
## 5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
||30.6.23|30.6.22|
|---|---|---|
||£|£|
|Depreciation - owned assets|479|256|
|Deficit on disposal of fixed assets|78|-|
## 6. INDEPENDENT EXAMINER'S REMUNERATION
The fee payable to the independent examiner for the independent examination amounted to £1,500 (2022 - £1,500) and, in addition, fees payable to the independent examiner's firm for accounting services amounted to £6,310 (2022 - £5,981).
## 7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022. The trustees only are considered to be key management personnel.
## Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022.
## 8. STAFF COSTS
The average monthly number of employees during the year was as follows:
||30.6.23|30.6.22|
|---|---|---|
|Administrative|3|2|
No employees received emoluments in excess of £60,000.
## 9. 2022 - COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
|INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
Total
EXPENDITURE ON
Charitable activities
Ongoing respite and support grants
Quality of life support grants
Grants payable
Other
Total|Unrestricted
funds
£
1,263
219,176
220,439
154,259
79,007
52,075
90,281
375,622|Restricted
funds
£
27,000
-
27,000
-
15,125
-
-
15,125|Total
funds
£
28,263
219,176|
|---|---|---|---|
||||247,439|
||||154,259
94,132
52,075
90,281|
||||390,747|
continued...
15
## WALSINGHAM CARE
## Notes to the Financial Statements - continued for the Year Ended 30 June 2023
## 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
|Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
10.
TANGIBLE FIXED ASSETS
COST
At 1 July 2022
Additions
Disposals
At 30 June 2023
DEPRECIATION
At 1 July 2022
Charge for year
Eliminated on disposal
At 30 June 2023
NET BOOK VALUE
At 30 June 2023
At 30 June 2022
11.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 July 2022
Disposals
Revaluation
At 30 June 2023
NET BOOK VALUE
At 30 June 2023
At 30 June 2022|Unrestricted
funds
£
(449,851)
(605,034)
8,096,891
7,491,857|Restricted
funds
£
-
11,875
3,125
15,000||Total
funds
£
(449,851)
(593,159)
8,100,016
7,506,857
Computer
equipment
£
2,619
2,040
(399)
4,260
1,569
479
(321)
1,727
2,533
1,050
Listed
investments
£
7,412,884
(250,000)
169,238
7,332,122
7,332,122
7,412,884|
|---|---|---|---|---|
||||||
||||||
||||||
continued...
16
## WALSINGHAM CARE
## Notes to the Financial Statements - continued for the Year Ended 30 June 2023
## 11. FIXED ASSET INVESTMENTS - continued
The investments are in funds managed by CCLA and Sarasin.
Both fund managers deduct fees and other expenses from the overall performance of the fund. The revaluation figure above includes investment manager's fees for Sarasin of £19,460 (achieved by grossing up the revaluation movement).
## 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR||
|---|---|
|30.6.23
£
Other debtors
-
Prepayments and accrued income
38,347
38,347|30.6.22
£
1,000
51,018|
||52,018|
Accrued income represents declared dividend income for the quarter ended 30 June 2023. At the balance sheet date, accrued income amounted to £34,014 (2022 - £35,106).
## 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR||
|---|---|
|30.6.23
£
Social security and other taxes
1,256
Other creditors
7,936
Accruals
1,938
11,130|30.6.22
£
1,033
10,028
8,329|
||19,390|
Included in creditors are 'ongoing respite and support grants' amounting to £7,636 (2022 - £8,596) and 'quality of life support grants' amounting to £30 (2022 - £6,084).
## 14. MOVEMENT IN FUNDS
|MOVEMENT IN FUNDS||||
|---|---|---|---|
|Unrestricted funds
General fund
Designated Fund for Social Exclusion
Issues
Restricted funds
Household Support Fund - Walton
Charity
Carer Support Fund - Walton Charity
TOTAL FUNDS|At 1.7.22
£
7,468,766
23,091
7,491,857
15,000
-
15,000
7,506,857|Net
movement
in funds
£
(54,503)
(23,091)
(77,594)
(15,000)
5,500
(9,500)
(87,094)|At
30.6.23
£
7,414,263
-|
||||7,414,263
-
5,500|
||||5,500|
||||7,419,763|
continued...
17
## WALSINGHAM CARE
## Notes to the Financial Statements - continued for the Year Ended 30 June 2023
## 14. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
|Unrestricted funds
General fund
Designated Fund for Social Exclusion
Issues
Restricted funds
Household Support Fund - Walton
Charity
Carer Support Fund - Walton Charity
TOTAL FUNDS|Incoming
resources
£
214,111
-
214,111
10,000
7,000
17,000
231,111|Resources
expended
£
(457,311)
(23,091)
(480,402)
(25,000)
(1,500)
(26,500)
(506,902)|Gains and
Movement
losses
in funds
£
£
188,697
(54,503)
-
(23,091)
188,697
(77,594)
-
(15,000)
-
5,500
-
(9,500)
188,697
(87,094)|
|---|---|---|---|
## Comparatives for movement in funds
|Unrestricted funds
General fund
Designated Fund for Social Exclusion
Issues
Restricted funds
Walton Charity
Household Support Fund - Walton
Charity
TOTAL FUNDS|At 1.7.21
£
8,034,725
62,166
8,096,891
3,125
-
3,125
8,100,016|Net
movement
in funds
£
(565,959)
(39,075)
(605,034)
6,875
5,000
11,875
(593,159)|At
30.6.22
£
7,468,766
23,091|
|---|---|---|---|
||||7,491,857
10,000
5,000|
||||15,000|
||||7,506,857|
continued...
18
## WALSINGHAM CARE
## Notes to the Financial Statements - continued for the Year Ended 30 June 2023
## 14. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
|Unrestricted funds
General fund
Designated Fund for Social Exclusion
Issues
Restricted funds
Walton Charity
Household Support Fund - Walton
Charity
TOTAL FUNDS|Incoming
resources
£
220,439
-
220,439
20,000
7,000
27,000
247,439|Resources
expended
£
(336,547)
(39,075)
(375,622)
(13,125)
(2,000)
(15,125)
(390,747)|Gains and
Movement
losses
in funds
£
£
(449,851)
(565,959)
-
(39,075)
(449,851)
(605,034)
-
6,875
-
5,000
-
11,875
(449,851)
(593,159)|
|---|---|---|---|
## 15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2023 nor for the year ended 30 June 2022.
This page does not form part of the statutory financial statements
19