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2023-03-31-accounts

Charity registration number 1118555

Company registration number 05957410 (England and Wales)

STAPELY JEWISH CARE HOME LIMITED

T/A STAPELY JEWISH CARE HOME ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 PAGES FOR FILING WITH REGISTRAR

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr P Ettinger
Mr R Ettinger
Charity number 1118555
Company number 05957410
Principal address 27 Allerton Drive
Liverpool
L18 6HH
Registered office North Mossley Hill Road
Liverpool
L18 8BR
Auditor Bennett Verby Limited
7 St Petersgate
Stockport
Bankers Barclays Bank plc
164 Allerton Road
Mossley Hill
Liverpool
Merseyside
L18 2DH
Solicitors Aaron & Partners
5 - 7 Grosvenor Court
Foregate Street
Chester
CH1 1HG

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME CONTENTS

Page
Trustees' report 1 - 3
Statement of Trustees' responsibilities 4
Independent auditor's report 5 - 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notes to the financial statements 10 - 20

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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

The charity's objects are to provide nursing and residential care for older Jewish people within the local community. The policies adopted in furtherance of these objects are the provision of high quality care on a one to one basis and there has been no change in these during the year.

The charity seeks to generate additional income from a range of sources to contribute towards the operating costs compared to core net income from the home.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake with regards to providing a public benefit.

Strategic report

The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the Trustees to present a strategic report.

Achievements and performance

We have continued to make good progress on our very clearly defined objectives that have been established for the future services supplied by Stapely Jewish Care Home to the local Jewish and wider communities. Our clear vision for the way forward is now well established. Our main objective is to offer exceptional care in an exceptional environment.

The Charity has recovered well from the inspection by the Care Quality Commission in April 2018 which saw the charity placed under special measures. We have worked tirelessly to improve the standards of care provided in light of this review and we are pleased to report that the latest inspection in April 2021 saw significant improvement. The charity is now classed as Good with requiring improvement in only one area, and we continue to work to achieve the high standards we aim to provide.

We are proud of the level of care our wonderful staff offer to all of our residents, patients and their families, and now we are proceeding to match the environment with the level of care supplied. The future objective is to create a retirement village complex on the site, offering a full service-led environment to enable residents to move from selfsufficiency to full nursing care where necessary, without having to move from their home. This is now in progress and with the successful completion of a cinema complex.

Financial review

The results for the year are set out on page 7.

The principal funding comes from residents in the nursing and residential home with additional voluntary income received from a wide range of sources including donations, appeals and legacies.

Total incoming resources for the year ended 31 March 2023 were £2,193,564 (2022: £2,133,389).

The total reserves at the year end stood at £1,983,299 (2022: £1,923,070). This includes a restricted fixed asset fund of £72,003 (2022 - £76,206) relating to assets of the charity which are not available for general purposes.

A financial review takes place monthly with strategic matters and day to day functions discussed. A close liaison with our financial and legal advisors to receive and deal with management information is a consistent modus operandi for the trustees and the efficient and proactive functioning of the business of the charity.

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The reserves policy for the charity is to strive to build up the reserves from donations and legacies. There is a clear objective to achieve this to enable the future development of Stapely Jewish Care Home and its infrastructure to enable us to offer the best possible care, in the best possible environment for our residents, patients, their families and friends and our wonderful and dedicated staff.

Risk management

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The risk management strategy includes :

This work has identified that financial sustainability is the major risk for the charity. A key element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due, regular liaison with the bank and active management of trade debtor and creditor balances to ensure sufficient working capital by the company.

Attention has also been focused on non-financial risks arising from fire, health and safety and food hygiene. These risks are managed by ensuring accreditation is up to date, having policies and procedures in place, and regular awareness training for staff working in these operational areas.

The trustees have a duty to identify and review the risks to which the care home is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The Trustees are seeking to enhance the financial and organisational resilience of the company, primarily by budgeting for ongoing operating surpluses each year and keeping under review the company’s long term financing requirements, as well as by actively monitoring the likely regulatory and operational developments, in order to be able to respond appropriately and to continue to provide broadly its current range of services and activities over the medium / long term.

Structure, governance and management

The charity is controlled by its governing document, the memorandum and articles of association dated 5 October 2006. The charity constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Mr P Ettinger Mr R Ettinger

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

The trustees will only consider the appointment of new trustees where they believe the addition of any new trustee can considerably add to the expertise and experience in the particular chosen area of the charity's area of business. The trustees are the sole decision makers where the appointment of any new trustees are considered.

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Day to day operations are managed by S Smith (senior manager) and overseen by P Ettinger (trustee)

The executives meet weekly and consider reports presented by the Administrator on the operations and performance of the home which enables them to make decisions in a timely and effective manner on the operations and strategic direction of the charity.

A specialised induction and training policy for possible new trustees where they may be appointed from time to time in the future is in place. Only specified individuals who hold specific experience in the fields associated directly with the service sector within which Stapely Jewish Care Home operates, will be considered for trusteeship.

Auditor

The auditor, Bennett Verby Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Key management personnel

The key management of the charity are considered to be the trustees Mr P Ettinger and Mr R Ettinger and the senior manager Mrs Shirley Smith.

Plans for future periods

The trustees main plan is to continue to look to improve the standard of care, increase the unrestricted reserves and drive efficiencies throughout the charity.

The Trustees are seeking to enhance the financial and organisational resilience of the company, primarily by budgeting for ongoing operating surpluses each year and keeping under review the company’s long term financing requirements, as well as by actively monitoring the likely regulatory and operational developments, in order to be able to respond appropriately and to continue to provide broadly its current range of services and activities over the medium / long term.

The Trustees' report, including the strategic report, was approved by the Board of Trustees.

..............................

Mr P Ettinger Trustee

Date: .............................................

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2023

The Trustees, who are also the directors of Stapely Jewish Care Home Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the Charity Commission and charity's website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions.

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF STAPELY JEWISH CARE HOME LIMITED

Opinion

We have audited the financial statements of Stapely Jewish Care Home Limited (the ‘charity’) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, the 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 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF STAPELY JEWISH CARE HOME LIMITED

Responsibilities of Trustees

As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Bernard Verby (Senior Statutory Auditor) for and on behalf of Bennett Verby Limited ......................... Chartered Accountants Statutory Auditor 7 St Petersgate Stockport SK1 1EB

Bennett Verby Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income and endowments from:
Donations and
legacies
3
407,063
-
Charitable activities
4
1,786,501
-
Total income
2,193,564
-
Expenditure on:
Charitable activities
5
2,092,361
4,203
Expenditure on
raising funds
9
36,771
-
Total expenditure
2,129,132
4,203
Net income/(expenditure)
for the year/
Net movement in funds
64,432
(4,203)
Fund balances at 1 April
2022
1,846,864
76,206
Fund balances at 31
March 2023
1,911,296
72,003		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
407,063
486,011
-
1,786,501
1,647,377
-
2,193,564
2,133,388
-
2,096,564
1,909,027
4,203
36,771
45,768
-
2,133,335
1,954,795
4,203
60,229
178,593
(4,203)
1,923,070
1,668,271
80,409
1,983,299
1,846,864
76,206		 Total
2022
£
486,011
1,647,377
Donations and
legacies
3
Charitable activities
4
Total income
Expenditure on:
Charitable activities
5
Expenditure on
raising funds
9
Total expenditure
Net income/(expenditure)
for the year/
Net movement in funds
Fund balances at 1 April
2022
Fund balances at 31
March 2023
2,133,388
1,913,230
45,768
1,958,998
174,390
1,748,680
1,923,070

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME BALANCE SHEET

AS AT 31 MARCH 2023

Notes
Fixed assets
Tangible assets
11
Current assets
Stocks
12
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
16
Net assets
Income funds
Restricted funds
18
Unrestricted funds		 2023
£
£
286,577
20,516
2,495,890
23,034
2,539,440
(666,866)
1,872,574
2,159,151
(175,852)
1,983,299
72,003
1,911,296
1,983,299		 2022
£
£
340,563
18,656
2,342,825
16,797
2,378,278
(499,014)
1,879,264
2,219,827
(296,757)
1,923,070
76,206
1,846,864
1,923,070

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

The financial statements were approved by the Trustees on .........................

.............................. Mr P Ettinger Trustee

Company registration number 05957410

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2023

2023
2022
Notes
£
£
£
Cash flows from operating activities
Cash generated from operations
24
229,449
Net cash used in investing activities
-
Financing activities
Repayment of borrowings
(20,000)
(17,543)
Proceeds from new bank loans
-
100,000
Repayment of bank loans
(162,837)
(118,721)
Net cash used in financing activities
(182,837)
Net increase/(decrease) in cash and cash
equivalents
46,612
Cash and cash equivalents at beginning of year
(23,578)
Cash and cash equivalents at end of year
23,034
Relating to:
Cash at bank and in hand
23,034
Bank overdrafts included in creditors payable
within one year
-		 £
9,663
-
(36,264)
(26,601)
3,023
(23,578)
16,797
(40,375)

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Stapely Jewish Care Home Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is North Mossley Hill Road, Liverpool, L18 8BR.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], 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 charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

These accounts are prepared on the going concern basis. The Trustees have a reasonable expectation that the charity will continue in operational existence for the foreseeable future.

The charity manages its day to day working capital requirements through its cash reserves and banking facilities. In addition, the company retains the support of its bankers who have not called in the facilities in spite of a breach in the loan covenants and remain committed to continuing this support in the foreseeable future.

The trustees believe that the going concern basis is still applicable, having reviewed projections and cash flow forecasts, as they believe that the company will have sufficient finances to meet its future obligations as and when they fall due.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors 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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it 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 charity 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 charity 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.

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.5 Expenditure

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.

Expenses include VAT where applicable as the company cannot reclaim it.

1.6 Tangible fixed assets

Tangible 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 or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery 20% straight line Fixtures, fittings & equipment 15% reducing balance Motor vehicles 10% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication 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 extent of the impairment loss (if any).

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials. Items held for distribution at no or nominal consideration are measured at cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with 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.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial 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.

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Basic 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 rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary 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-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Taxation

The charity is exempt from taxation on its charitable activities.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates 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 estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate 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.

There have been no critical accounting estimates or judgements used in the preparation of these financial statements.

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

2 Critical accounting estimates and judgements

(Continued)

Key sources of estimation uncertainty

Legacy recognition

Legacy income has been recognised at the date the distribution was confirmed rather than the date of payment. This is in line with the accounting policy.

3 Donations and legacies

**Unrestricted ** Unrestricted
funds funds
As restated
2023 2022
£ £
Donations and gifts 8,485 42,489
Legacies receivable 398,578 195,000
Government grants receivable - 248,522
407,063 486,011
Grants receivable for core activities
CJRS grant - 15,879
SSP grant - 1,609
LCC Covid grant - 5,000
LCC IFG grant - 8,759
LCC Infection Control grant - 159,705
LCC Testing Fund grant - 1,940
LCC Workforce grant - 39,995
CBILS interest paid by government - 27,386
- 248,522

4 Charitable activities

Residential income
Other income
Nursing home income		 2023
£
1,387,569
4,366
394,566
1,786,501		 2022
£
1,274,899
35,915
336,563
1,647,377

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

5 Charitable activities

Staff costs
Depreciation and impairment
Rates
Insurance
Light & heat
Repairs & maintenance
Postage & carriage
Telephone
Travel
Sundry
Trading costs
Subscriptions
Bank charges
Legal & professional
Analysis by fund
Unrestricted funds
Restricted funds		 2023
£
1,240,029
53,986
39,154
49,361
77,287
127,971
12,903
2,388
20,174
32,292
369,198
15,710
5,281
50,830
2,096,564
2,096,564
2,092,361
4,203
2,096,564		 2022
£
1,139,790
62,697
39,715
46,057
73,106
155,627
5,713
3,220
15,725
46,190
235,471
15,710
2,674
71,535
1,913,230
1,913,230
1,909,027
4,203
1,913,230

6 Support costs

Depreciation
Audit fees
Accountancy
Legal and professional		 Support
costs
Governance
costs
£
£
49,363
-
-
5,000
-
5,000
-
40,830
49,363
50,830		 2023
£
49,363
-
-
-
49,363		 Support
costs
Governance
costs
£
£
58,075
-
-
5,000
-
5,000
-
66,304
58,075
76,304		 2022
£
58,075
-
-
-
58,075

Governance costs includes payments to the auditors of £5,000 (2022- £5,000) for audit fees.

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

7 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

None of the Trustees incurred or claimed any expenses from the charity during the year.

8 Employees

The average monthly number of employees during the year was:

Care and admin staff
Employment costs
Wages and salaries
Social security costs
Other pension costs
The number of employees whose annual remuneration was more than £60,000
is as follows:
£60,000 - £70,000
9
Expenditure on raising funds
Financing costs
10
Taxation		 2023
2022
Number
Number
55
52
2023
2022
£
£
1,126,999
1,043,067
100,179
84,388
12,851
12,335
1,240,029
1,139,790
2023
2022
Number
Number
1
-
2023
2022
As restated
£
£
36,771
45,768		 2022
Number
52
2022
£
1,043,067
84,388
12,335
1,139,790
2022
Number
-

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

11
Tangible fixed assets
Cost
At 1 April 2022
At 31 March 2023
Depreciation and impairment
At 1 April 2022
Depreciation charged in the year
At 31 March 2023
Carrying amount
At 31 March 2023
At 31 March 2022
12
Stocks
Raw materials and consumables
13
Debtors
Amounts falling due within one year:
Trade debtors
Amounts owed by fellow group undertakings
Prepayments and accrued income		 Plant and
machinery
£
30,322
30,322
30,322
-
30,322
-
-		 Fixtures,
fittings &
equipment
Motor vehicles
£
£
717,104
46,230
717,104
46,230
388,017
34,754
49,363
4,623
437,380
39,377
279,724
6,853
329,087
11,476
2023
£
20,516
2023
£
11,841
2,289,667
194,382
2,495,890		 Total
£
793,656
793,656
453,093
53,986
507,079
286,577
340,563
2022
£
18,656
2022
£
22,311
2,180,258
140,256
2,342,825

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

14 Loans and overdrafts

Loans and overdrafts
Bank overdrafts
Bank loans
Other loans
Payable within one year
Payable after one year		 2023
£
-
232,199
71,667
303,866
128,014
175,852		 2022
£
40,375
426,093
60,610
527,078
230,321
296,757

The long-term loans are secured by fixed charges over the Chattels of the charity.

The charity has agreed to give the lender security for the loan by way of a Mortgage of Chattels in favour of Bathgate Leasing Limited. The parties have entered into a 5 year fixed term loan agreements for the sum of £100,000, to be repaid by 60 equal instalments of £2,400 per month.

15 Creditors: amounts falling due within one year

Notes
Bank loans and overdrafts
14
Other borrowings
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
Creditors: amounts falling due after more than one year
Notes
Bank loans
14
Other borrowings		 2023
£
108,014
20,000
189,171
280,665
38,122
30,894
666,866
2023
£
124,185
51,667
175,852		 2022
£
211,084
19,237
38,795
158,520
25,273
46,105
499,014
2022
£
255,384
41,373
296,757

16 Creditors: amounts falling due after more than one year

Included within borrowings is a loan from Bathgate Leasing Limited. This loan is repayable over a five year term, with an interest rate of 8.8%. The loan is secured by a fixed charge over the assets of Stapely Jewish Care Home Limited.

In 2021 the Company took out CBILS loans totalling £444,814. The CBILS loans have been made available on repayment terms of five years, and are supported by a government-backed guarantee against the outstanding balance of the facility. The Group remains 100% liable for repayment of the facility. Therefore, the interest charge and any related government grant is recognised in profit or loss account.

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

17 Deferred income

Deferred income relates to income invoiced by the charity which relates to the 2022/23 year end. This has been deferred as the charity has no right to the income at the balance sheet date.

18 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement
in funds
Balance at Outgoing Balance at Resources Balance at
1 April 2021 resources 1 April 2022 expended 31 March 2023
£ £ £ £ £
Fixed asset fund 80,409 (4,203) 76,206 (4,203) 72,003

Fixed asset restricted fund

This relates to a donation from the late trustee Dr Eric Toke of £109,280 which was to be solely used for fixed asset purchases in the charity.

At the balance sheet date, £42,030 of the restricted donation has been spent on the purchase of a minibus (£39,280) and a van (£2,750). The remaining balance of £67,250 remains unspent and is carried forward (together with the net book value of the vehicles acquired - £4,753) for future use by the charity.

19 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31
March 2023 are
represented by:
Tangible assets
214,574
72,003
Current assets/(liabilities)
1,872,574
-
Long term liabilities
(175,852)
-
1,911,296
72,003		 Total Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
286,577
264,357
76,206
1,872,574
1,879,264
-
(175,852)
(296,757)
-
1,983,299
1,846,864
76,206		 Total
2022
£
340,563
1,879,264
(296,757)
1,923,070

20 Audit report information

The auditor's report was unqualified.

Bennett Verby Limited

Chartered Accountants Statutory Auditor

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

21 Financial commitments, guarantees and contingent liabilities

On 20 January 2016 the charity provided a Mortgage Chattels in favour of Bathgate Leasing Limited in the order of £100,000 in respect of liabilities to Bathgate Leasing Limited.

On 28 November 2017 the charity provided a limited guarantee to Barclays Bank plc in relation to liabilities owed by its parent Home For Aged Jews (Liverpool and District) to the value of £1.309 million. This charge has been satisfied in full in August 2021 upon completion of the refinancing disclosed in note 22 to these accounts.

On 21 October 2019 the charity provided a legal mortgage over the fixed assets in favour of Bathgate Leasing Limited in the order of £100,000 in respect of liabilities to Bathgate Leasing Limited.

On 23 July 2021 the charity provided a legal mortgage to Reliance Bank PLC in relation to any and all liabilities owed to it by the Company and / or by its parent Home For Aged Jews (Liverpool and District). The charge provides a fixed and floating charge over all assets of the Charity, and a first legal mortgage over the freehold properties held by the parent.

22 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2023 2022
£ £
Aggregate compensation 251,901 223,714

Transactions with related parties

The trustees all give their time and expertise without any form of remuneration or other benefit in cash or kind (2022: £nil). There were no expenses paid to the trustees in the year.

During the year there were no transactions with related parties.

23 Ultimate controlling party

The charity is a wholly owned subsidiary of Home For Aged Jews (Liverpool and District) charity number 220797. Home For Aged Jews (Liverpool and District) provides nursing and residential care for older Jewish people within the local community.

The consolidated accounts are available from the principal office of the charity, White Gables, 1 North Mossley Hill Road, Liverpool, L18 8BR.

STAPELY JEWISH CARE HOME LIMITED T/A STAPELY JEWISH CARE HOME NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

24 Cash generated from operations 2023 2022
£ £
Surplus for the year 60,229 174,390
Adjustments for:
Depreciation and impairment of tangible fixed assets 53,986 62,698
Movements in working capital:
(Increase) in stocks (1,860) (5,140)
(Increase) in debtors (153,065) (185,840)
Increase/(decrease) in creditors 270,159 (36,445)
Cash generated from operations 229,449 9,663
25 Analysis of changes in net (debt)/funds
At 1 April 2022 Cash flowsAt 31 March 2023
£ £ £
Cash at bank and in hand 16,797 6,237 23,034
Bank overdrafts (40,375) 40,375 -
(23,578) 46,612 23,034
Loans falling due within one year (189,946) 61,932 (128,014)
Loans falling due after more than one year (296,757) 120,905 (175,852)
(510,281) 229,449 (280,832)