2023-04-30-accounts - Southport Rest Home

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Southport Rest Home Company Limited by Guarantee

Statement of Financial Activities (Incorporating the Income & Expenditure Account)

Year Ended 30 April 2023

Incoming Resources Incoming resources from generating funds: Voluntary Income Investment Income Incoming resources from charitable activities Other Incoming resources Total Incoming Resources Resources Expended Charitable Activities Governance Costs Total Resources Expended Net Income/Expenditure for the Year Other Recognised Gains and Losses Profit/(Loss) on Revaluation of Investment Assets Net Movement in Funds Reconciliation of Funds Total Funds Brought Forward Total Funds Carried Forward	Note	Total Funds 2023 £ 6414 396 704171 12888 723869 (811424) (16118) (827542) (103673) 1926 (101747) 1287052 1185305	Total Funds
			2022 £ 35276 41 653302 44350 732969 (759560) (16653) (776213) (43243) (1466) (44710) 1331762 1287052
	2 3 4 5 6 7

The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.

All the above amounts relate to continuing activities.

The notes on pages 8 to 13 form part of these financial statements.

Southport Rest Home Company Limited by Guarantee

Balance Sheet

As at 30 April 2023

As at 30 April 2023
Fixed Assets Tangible Assets Investments Current Assets Inventory Debtors Cash at Bank and in Hand Creditors: Bank Overdrafts Amounts Falling Due Within One Year Net Current Assets Total Assets Less Current Liabilities Net Assets Funds Unrestricted Income Funds Total Funds	Note	£ 500 21017 48062 69579 7160 30451	£ 1141438 11899 1153337 31968 1185305 1185305 1185305 1185305 2023	£ 500 19258 140362 160121 0 37516	£ 1154474 9973 1164447 122605 1287052 1287052 1287052 1287052 2022

	11 12 13 14 15 17

For the year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Trustees responsibilities:

. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

These financial statements were approved by the members of the committee and authorised for issue on xx/xx/2023 and are signed on their behalf by:

Mr H. Seaberg - Chairperson

The notes on pages 8 to 13 form part of these financial statements.

Southport Rest Home Company Limited by Guarantee

Notes to the Financial Statements

Year Ended 30 April 2023

1. Accounting Policies

Basis of Accounting

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets, and in accordance with applicable United Kingdom accounting standards and the requirements of the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005).

Cash Flow Statement

The trustees have taken advantage of the exemption in Financial Reporting Standard No 1 (revised) from including a cash flow statement in the financial statements on the grounds that the company qualifies as small.

Income Receipts from Charitable Activities

Residents Fees and day centre receipts are recognised in the Statement of Financial Activities (SOFA) when they fall due.

Investments

Investments on a recognised stock exchange are valued at market value at the year end.

Fund Accounting

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specific purpose and are available as unrestricted funds.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria are charged to the restricted fund.

Depreciation

Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that asset as follows:

Motor Vehicles 20% Reducing Balance Computer Equipment 20% Reducing Balance Fixtures & Fittings 15% Reducing Balance

No depreciation is charged in respect of freehold land and buildings, as continuous repair and maintenance work ensures that the value of the property is maintained in excess of book value.

Inventory

Inventories are stated at cost.

Operating Lease Agreements

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Southport Rest Home Company Limited by Guarantee

Notes to the Financial Statements Continued

Year Ended 30 April 2023

Legacies and Grants

Legacies and grants are recognised in the SOFA when they become receivable and it is reasonably certain that they will be received and can be measured with sufficient reliability.

Tax Reclaims on Dividends and Gifts

Income resources from tax claims are included in the SOFA at the same time as the gift to which they relate.

Expenditure and Liabilities

Liability recognition, generally liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure.

2. Voluntary Income Donations & Legacies Unveilings Subscriptions 3. Investment Income Income from UK Listed Investments Bank Interest Receivable 4. Income Resources from Charitable Activities Residents Fees Flat Rents Receivable Electric Meters & Laundry Receipts	Unrestricted Funds £ 6414 0 0 6414 Unrestricted Funds £ 0 396 396 Unrestricted Funds £ 680709 22708 754 704171	Total Funds 2023 £ 6414 0 0 6414 Total Funds 2023 £ 0 396 396 Total Funds 2023 £ 680709 22708 754 704171	Total Funds	Total Funds
			2022 £ 35276 0 0 35276 Total Funds
			2022 £ 0 41 41 Total Funds
				2022 £ 631308 21132 863 653302

Southport Rest Home Company Limited by Guarantee

Notes to the Financial Statements Continued

Year Ended 30 April 2023

5. Other Incoming Resources Gift Aid Refund Miscellaneous Grants Received 6. Costs of Charitable Activities by Fund Type Staff Salaries & Wages Employers NIC Pensions Agency Labour Ground Rent Rates Water Rates Heat, Light & Power Insurance Hire of Equipment Laundry & Cleaning Repairs, Renewals & Maintenance Provisions Residents Activities Entertaining Depreciation Travelling Expenses & Accommodation Training Courses & Security Checks Licences & Registration Fees General Expenses 7. Governance Costs Accountancy Fees Professional Fees Telephone Printing, Postage & Stationery Bank Charges	Unrestricted Funds £ 0 552 12336 12888 Unrestricted Funds £ 438255 17329 6558 64488 10 4535 9442 36963 9848 14079 22635 94083 60585 3500 500 13449 1263 3810 3442 6650 811424 Unrestricted Funds £ 840 6332 4670 3246 1030 16118	Total Funds 2023 £ 0 552 12336 12888 Total Funds 2023 £ 438255 17329 6558 64488 10 4535 9442 36963 9848 14079 22635 94083 60585 3500 500 13449 1263 3810 3442 6650 811424 Total Funds 2023 £ 840 6332 4670 3246 1030 16118	Total Funds 2022 £ 1397 590 42363 44350 Total Funds 2022 £ 423468 18853 6165 29678 65 3092 8694 46037 8078 12882 21767 87060 57243 3479 156 15839 862 3523 5885 6737 759560 Total Funds 2022 £ 5868 2898 3169 3706 1012 16653	Total Funds 2022 £ 1397 590 42363 44350 Total Funds 2022 £ 423468 18853 6165 29678 65 3092 8694 46037 8078 12882 21767 87060 57243 3479 156 15839 862 3523 5885 6737 759560 Total Funds 2022 £ 5868 2898 3169 3706 1012 16653
				2022 £ 5868 2898 3169 3706 1012 16653

Southport Rest Home Company Limited by Guarantee

Notes to the Financial Statements Continued

Year Ended 30 April 2023 8. Net Outgoing Resources for the Year 2023 £ This is stated after Charges Depreciation 13449 9. Trustees Remuneration and Expenses No remuneration, directly or indirectly out of charity funds was paid or payable for the year to any trustee, or any persons known to be connected to any of them. 10. Staff Costs and Emoluments 2023 £ Total staff costs were as follows: Wages & Salaries 438255 Social Security Costs 17329 455584 Particulars of employees: The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows: 2023 £ Number of Administrative Staff 4 Number of Full Time Equivalent Caring Service, Kitchen & House Staff 32 36 11. Tangible Fixed Assets Freehold Leasehold Motor Fixtures & Property Property Vehicles Fittings £ £ £ £ Cost As at 1 May 2022 968600 99000 6000 236372 Additions 0 0 0 213 As at 30 April 2023 968600 99000 6000 236585 Depreciation As at 1 May 2022 0 0 2160 156408 Charge for the Year 0 0 768 12027 As at 30 April 2023 0 0 2928 168435 Net Book Value As at 30 April 2023 968600 99000 3072 68150 As at 30 April 2022 968600 99000 3840 79964	Computer Equipment £ 9952 200 10152 6882 654 7536 2616 3070		2022 £ 15839 2022 £ 423468 18853 442321 2022 £ 4 32 36 Total £ 1319925 413 1320338 165451 13449 178900 1141438 1154474

Revaluation of Fixed Assets

The freehold of property at 81 Albert Road, Southport, was valued by Edward Jackson Partnership, Chartered Surveyors, on 2 September 2008.

Southport Rest Home Company Limited by Guarantee

Notes to the Financial Statements Continued

Year Ended 30 April 2023 12. Investments Movement in Market Value Market Value as at 1 May 2022 Net Gains on revaluations in the year end 30 April 2023 Market Value at 30 April 2023 Market Value at 1 May 2022 Historical Cost Analysis of Investments as at 30 April 2023 between funds Listed Quoted Investments UK Quoted Shares - 7240 Marks & Spencer Ordinary Shares 13. Inventory Inventory of Food & Drink 14. Debtors Trade Debtors Other Debtors Prepayments		2023 £ 9973 1926 11899 9973 27548 Total Funds 2023 £ 11899 2023 £ 500 2023 £ 3610 0 17407 21017		Total Funds 2022 £ 9973 2022 £ 500 2022 £ 3046 4000 12213 19258

Southport Rest Home Company Limited by Guarantee

Notes to the Financial Statements Continued

Year Ended 30 April 2023

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15. Creditors: Amounts Falling Due Within One Year 2023 2022
£ £
Trade Creditors 20720 25061
PAYE & Social Security Creditors 4340 4045
Other Creditors & Accruals 5390 8410
30451 37516
16. Unrestricted Income Funds Balance at Incoming Gains & Balance at
1 May 2022 Resources Losses 30 April 2023
£ £ £ £
General Funds 1287052 (103673) 1926 1185305
17. Analysis of Net Assets Between Funds
Tangible Net Current
Fixed Assets Investments Assets Total
£ £ £ £
Unrestricted Income Funds 1141438 11899 31968 1185305
Total Funds 1141438 11899 31968 1185305
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19. Company Limited by Guarantee

The company is limited by guarantee and the liability of the members is limited to an amount not exceeding £ 1.

Southport Rest Home Company Limited by Guarantee

Additional Information Statement

Year Ended 30 April 2023

The additional information contained in page 15 has been prepared from the accounting records of the company. While it does not form part of the statutory financial statements, it should be read in conjunction with them and the report thereon.

Southport Rest Home Company Limited by Guarantee Income Statement

Year Ended 30 April 2023

		2023		2022
		£	£	£	£
Revenue:
	Donations, Legacies & Unveilings		6414		35276
	Annual Subscriptions		0		0
	Residents Fees		680709		631308
	Flat Rents Receivable		22708		21132
	Electric Meters & Laundry Receipts		754		863
	Gift Aid Income Tax Refund		0		1397
	Grants Received		12336		42363
	Miscellaneous		552		590
Less:	Expenses for Charitable Activities: Wages & Employers NIC Pensions Agency Labour Ground Rent Rates Water Rates Heat, Light & Power Insurance Provisions Residents Activities Entertaining Equipment Hire Laundry & Cleaning Repairs, Renewals & Maintenance Gardening Travelling Expenses & Accommodation Licences & Registration Fees Protective Clothing Training Courses & Security Checks Advertising Depreciation General Expenses	455584 6558 64488 10 4535 9442 36963 9848 60585 3500 500 14079 22635 91752 2332 1263 3442 758 3810 4898 13449 994	723473 (811424)	442321 6165 29678 65 3092 8694 46037 8078 57243 3479 156 12882 21767 85822 1238 862 5885 766 3523 4508 15839 1462	732928 (759560)
Less:	Governance Costs
	Telephone Computer Software & Maintenance Printing, Postage & Stationery Professional Fees Accountancy Bank Charges	4670 211 3035 6332 840 1030	(16118)	3169 891 2815 2898 5868 1012	(16653)
Operating (Loss) Dividends Received Investment Interest Received Bank Interest Received Net (Loss)		0 12 384	(104069) 396 (103673)	0 24 17	(43285) 41 (43243)
Gains / (Losses) on Revaluation of Investment Assets			1926		(1466)
Net Movement in Funds			(101747)		(44710)