Southport Rest Home
Company Limited by Guarantee Financial Report and Accounts Year Ended 30 April 2024
Southport Rest Home (Company No. 06368309) Company Limited by Guarantee Contents Page Year Ended 30 April 2024
| Trustees Annual Report Independent Examiner’s Report to Members Statement of Financial Activities (Incorporating the Income and Expenditure Account) Balance Sheet Notes to the Financial Statements |
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Southport Rest Home Company Limited by Guarantee
Trustees Annual Report
Year Ended 30 April 2024
The trustees, who are also directors for the purposes of company law, present their report and the Unaudited financial statements of the company for the year ended 30 April 2024.
Reference and Administrative Details
Registered Charity Name:
Southport Rest Home
Charity Registration Number: 1123524 Company Registration Number: 06368309 Registered Office: 81 Albert Road Southport PR9 9LN
The Trustee / Directors:
The trustee / directors who served the company during the year were as follows: -
June Bennett Faith Avril Choueke Peter Gordon Eileen Lippa
Bankers:
Royal Bank of Scotland 269 Lord Street Southport PR8 1PH
Solicitors:
J. Myers Husband Forwood Morgan Solicitors 26 Exchange Street East Liverpool L2 3PH
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Southport Rest Home Company Limited by Guarantee
Trustees Annual Report Continued
Year Ended 30 April 2024
Structure, Governance and Management
The organisation is a charitable company limited by guarantee, incorporated 12 September 2007 and registered as a charitable company on 9 April 2008. The charity is established under a Memorandum and Articles of Association dated 12 September 2007. In the event of the company being wound up the members are required to contribute an amount not exceeding £ 1.
The board of trustees comprise of the Chairperson, Vice Chairperson, Honorary Treasurer, and Honorary Secretary and up to fifteen other persons who are elected at the Annual General Meeting of the company. The minimum number of trustees is four.
The trustees may fill any vacancy arising amongst the Trustees by resolution at a meeting of the Board of Trustees. The appointee will serve until the next Annual General Meeting, at which they will retire and offer themselves for re-election.
The Trustees delegate powers of day-to-day operations to Sarah Hutton, the Home Manager.
Objectives
Our objectives are:
to provide a home for permanent residence of Jewish people who are aged, in particular but not exclusively for poor Jewish persons who have been resident in Southport: and
to provide a convalescent home for poor Jewish people; and
at the discretion of the Trustees, to waive the requirement for a beneficiary under either of the above objects to be Jewish; and
to carry on any other charitable work whatsoever which can be advantageously carried on by the Charitable Company.
In setting our objectives and planning our activities, the trustees have given careful consideration to the Charity Commission’s general guidance on public benefit.
Achievements and Performance
On 1 May 2008 the company took over the assets of the Southport Jewish Aged Home, following a resolution to incorporate the charity.
The home continued to be one of the finest Jewish residential homes in the North West and provided a high quality of care and attention from a dedicated team of staff.
The home continues to be reliant upon the goodwill and generosity of its benefactors amongst the Jewish Community.
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Southport Rest Home Company Limited by Guarantee
Trustees Annual Report Continued
Year Ended 30 April 2024
Financial Review
The operating Deficit for the year was £ 65639 ( 2023: £ 104627 ). The trustees continue to explore ways of incoming future revenue and undertake budgetary reviews in respect of costs.
Reserves Policy
The level of reserves as at 30 April 2024 stood at £ 1259186 ( 2023: £ 1182425 ) comprising all assets. Reserves are considered necessary to finance possible operating shortfalls in the future together with future capital expenditure on an ageing building.
Investment Policy
There are no restrictions on the charity’s power to invest. The trustees continue to monitor the reserves and adopt a low risk policy, with the bulk of the reserves invested with the bank in a treasury account invested on monthly deposit and if no monies are required for the coming month, it remains invested with the bank.
Risk Management
The trustees have examined the major strategic and operational risks which the charity faces and confirm that systems have been established to mitigate risks.
Plans for Future Periods
The trustees undertake to continue to offer a high standard of service and care to the residents.
The trustees will perform budgetary reviews and seek ways of increasing revenues and reducing costs.
Independent Examiner
Shahid Babu Patel has been reappointed as independent examiner for the ensuing year.
Small Company Provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption.
Registered office: 81 Albert Road Southport PR9 9LN
Signed on behalf of the trustees
Dated: 12/11/2024
Mr Peter Gordon
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Southport Rest Home Company Limited by Guarantee
Independent Examiners Report to the Members of Southport Rest Home
Year Ended 30 April 2024
I report on the account of the company for the year ended 30 April 2024 which are set out on pages 6 – 13.
Respective Responsibilities of Trustees and Examiner
The trustees (who are also the directors of Southport Rest Home for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity’s gross income exceeded £ 250000 and I am qualified to undertake the examination by being a member of the Chartered Association of Certified Accountants.
Having satisfied myself that the company is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down in general Direction given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
to state whether particular matters have come to my attention.
Basis of Independent Examiners Report
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the company and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts and seeking explanation from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent Examiners Statement
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with section 386 of the Companies Act 2006; and
-
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
4
Southport Rest Home
Company Limited by Guarantee
Independent Examiners Report to the Members of Southport Rest Home Continued
Year Ended 30 April 2024
Shahid Babu Patel (FCCA) Independent Examiner
Tolsey House 1 Marshside Road Churchtown Southport PR9 9TL
Dated: 12/11//2024
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Southport Rest Home Company Limited by Guarantee
Statement of Financial Activities (Incorporating the Income & Expenditure Account)
Year Ended 30 April 2024
| 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 Revaluations of Fixed Assets Revaluation of Property Net Movement in Funds Reconciliation of Funds Total Funds Brought Forward Total Funds Carried Forward |
Note | Total Funds 2024 £ 18808 138 835534 8880 863359 (909855) (20648) (930503) (67144) 1505 142400 76761 1182425 1259186 |
Total Funds |
|---|---|---|---|
| 2023 £ 6414 396 704171 12888 723869 (811424) (18998) (830422) (106553) 1926 0 (104627) 1287052 1182425 |
|||
| 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.
6
Southport Rest Home Company Limited by Guarantee
Balance Sheet
| As at 30 April 2024 Fixed Assets Tangible Assets Investments Current Assets Inventory Debtors & Prepayments 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 17160 2887 20546 0 33838 |
£ 1272478 0 1272478 (13292) 1259186 1259186 1259186 1259186 2024 |
£ 500 21017 48062 69579 7160 33331 |
£ 1141438 11899 1153337 29088 1182425 1182425 1182425 1182425 2023 |
|---|---|---|---|---|---|
| 11 12 13 14 15 17 |
For the year ended 30 April 2024 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 12/11/2024 and are signed on their behalf by:
Mr Peter Gordon
The notes on pages 8 to 13 form part of these financial statements.
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Southport Rest Home Company Limited by Guarantee
Notes to the Financial Statements
Year Ended 30 April 2024
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.
8
Southport Rest Home Company Limited by Guarantee
Notes to the Financial Statements Continued
Year Ended 30 April 2024
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 £ 18428 380 0 18808 Unrestricted Funds £ 0 138 138 Unrestricted Funds £ 810927 23198 1409 835534 |
Total Funds 2024 £ 18428 380 0 18808 Total Funds 2024 £ 0 138 138 Total Funds 2024 £ 810927 23198 1409 835534 |
Total Funds | Total Funds |
|---|---|---|---|---|
| 2023 £ 6414 0 0 6414 Total Funds |
||||
| 2023 £ 0 396 396 Total Funds |
||||
| 2023 £ 680709 22708 754 704171 |
9
Southport Rest Home Company Limited by Guarantee
Notes to the Financial Statements Continued
Year Ended 30 April 2024
| 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 £ 1422 20 7438 8880 Unrestricted Funds £ 513568 25651 8806 20572 10 2809 11358 110042 11743 26166 20260 75426 63035 1467 0 11360 739 120 3482 3239 909855 Unrestricted Funds £ 3828 7443 3968 4198 1211 20648 |
Total Funds 2024 £ 1422 20 7438 8880 Total Funds 2024 £ 513568 25651 8806 20572 10 2809 11358 110042 11743 26166 20260 75426 63035 1467 0 11360 739 120 3482 3239 909855 Total Funds 2024 £ 3828 7443 3968 4198 1211 20648 |
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 £ 3720 6332 4670 3246 1030 18998 |
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 £ 3720 6332 4670 3246 1030 18998 |
|---|---|---|---|---|
| 2023 £ 3720 6332 4670 3246 1030 18998 |
10
Southport Rest Home Company Limited by Guarantee
Notes to the Financial Statements Continued
Year Ended 30 April 2024
8. Net Outgoing Resources for the Year
| 8. Net Outgoing Resources for the Year | 2024 | 2023 |
| £ | £ | |
| This is stated after Charges | ||
| Depreciation | 11360 | 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 Total staff costs were as follows: Wages & Salaries Social Security Costs |
2024 £ 513568 25651 539220 |
2023 £ 438255 17329 455584 |
|---|---|---|
Particulars of employees:
The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows:
| Number of Administrative Staff Number of Full Time Equivalent Caring Service, Kitchen & House Staff |
2024 £ 4 35 39 |
2023 £ 4 32 36 |
|---|---|---|
| 11. Tangible Fixed Assets Cost As at 1 May 2023 Revaluation Additions As at 30 April 2024 Depreciation As at 1 May 2023 Charge for the Year As at 30 April 2024 Net Book Value As at 30 April 2024 As at 30 April 2023 |
Freehold Property £ 968600 131400 0 1100000 0 0 0 1100000 968600 |
Leasehold Property £ 99000 11000 0 110000 0 0 0 110000 99000 |
Motor Vehicles £ 6000 0 0 6000 2928 614 3542 2458 3072 |
Fixtures & Fittings £ 236585 0 0 236585 168435 10223 178658 57927 68150 |
Computer Equipment £ 10152 0 0 10152 7536 523 8059 2093 2616 |
Total £ 1320338 142400 0 1462738 178900 11360 190260 1272478 1141438 |
||
|---|---|---|---|---|---|---|---|---|
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.
11
Southport Rest Home Company Limited by Guarantee
Notes to the Financial Statements Continued
Year Ended 30 April 2024
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12. Investments 2024
£
Movement in Market Value
Market Value as at 1 May 2023 11899
Net Gains on Revaluation in the Period to 22 June 2023 1764
Transaction Fee on Disposal (260)
Proceeds From Disposal on 22 June 2023 13404
Historical Cost 27548
Analysis of Investments as at 30 April 2024 between funds
Total Funds Total Funds
2024 2023
£ £
Listed Quoted Investments
UK Quoted Shares - 7240 Marks & Spencer Ordinary Shares 0 11899
13. Inventory 2024 2023
£ £
Inventory of Food & Drink 500 500
14. Debtors 2024 2023
£ £
Trade Debtors 2036 3610
Other Debtors 92 0
Prepayments 15032 17407
17160 21017
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12
Southport Rest Home Company Limited by Guarantee
Notes to the Financial Statements Continued
Year Ended 30 April 2024
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15. Creditors: Amounts Falling Due Within One 2024 2023
£ £
Trade Creditors 19347 20720
PAYE & Social Security Creditors 10298 4340
Other Creditors & Accruals 4193 8270
33838 33331
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16. Unrestricted Income Funds
| Balance at Incoming 1 May 2023 Resources £ £ General Funds 1182425 (67144) 17. Analysis of Net Assets Between Funds Unrestricted Income Funds Total Funds |
Gains & Losses £ 1505 Tangible Fixed Assets £ 1272478 1272478 |
Fixed Asset Revaluation £ 142400 Net Current Assets £ (13292) (13292) |
Balance at 30 April 2024 |
Balance at 30 April 2024 |
|---|---|---|---|---|
£ 1259186 Total £ 1259186 1259186 |
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.
13
Southport Rest Home Company Limited by Guarantee
Additional Information Statement
Year Ended 30 April 2024
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.
14
Southport Rest Home Company Limited by Guarantee
Income Statement
Year Ended 30 April 2024
| Revenue: Donations, Legacies & Unveilings Annual Subscriptions Residents Fees Flat Rents Receivable Electric Meters & Laundry Receipts Gift Aid Income Tax Refund Grants Received Miscellaneous 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 Less: Governance Costs Telephone Computer Software & Maintenance Printing, Postage & Stationery Professional Fees Accountancy Bank Charges Operating (Loss) Investment Interest Received Bank Interest Received Net (Loss) Gains / (Losses) on Revaluation of Investment Assets Net Movement in Funds |
£ £ 18808 0 810927 23198 1409 1422 7438 20 863221 539220 8806 20572 10 2809 11358 110042 11743 63035 1467 0 26166 20260 75426 0 739 3482 727 120 1618 11360 894 (909855) 3968 1694 2504 7443 3828 1211 (20648) (67282) 0 138 138 (67144) 1505 (65639) 2024 |
£ £ 6414 0 680709 22708 754 0 12336 552 723473 455584 6558 64488 10 4535 9442 36963 9848 60585 3500 500 14079 22635 91752 2332 1263 3442 758 3810 4898 13449 994 (811424) 4670 211 3035 6332 3720 1030 (18998) (106949) 12 384 396 (106553) 1926 (104627) 2023 |
|---|---|---|
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