## **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|**Page Number**| |---|---| ||
1 - 3
4 - 5
6
7
8 - 13| ## **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 1 **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. 2 ## **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 3 ## **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 5 **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. 7 **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** **==> picture [444 x 545] intentionally omitted <==** **----- Start of picture text -----**
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
**----- End of picture text -----**
12 **Southport Rest Home Company Limited by Guarantee** ## **Notes to the Financial Statements Continued** ## **Year Ended 30 April 2024** **==> picture [355 x 107] intentionally omitted <==** **----- Start of picture text -----**
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
**----- End of picture text -----**
## **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**| |---|---|---| 15