**Registered number: 06533051 Charity number: 1126049** ## **Cheam Priory Day Centre** **(A company limited by guarantee)** ## **Unaudited** **Trustees' report and financial statements For the year ended 31 March 2024** **Cheam Priory Day Centre** ## **(A company limited by guarantee)** ## **Contents** ||Page| |---|---| |**Reference and administrative details of the charity, its Directors and Trustees and**|1| |**advisers**|| |**Trustees' report**|2 - 4| |**Trustees' responsibilities statement**|5| |**Independent examiner's report**|6| |**Statement of financial activities**|7| |**Balance sheet**|8| |**Notes to the financial statements**|9 - 22| ## **Cheam Priory Day Centre** ## **(A company limited by guarantee)** **Reference and administrative details of the charity, its Directors and Trustees and advisers For the year ended 31 March 2024** ## **Directors and Trustees** Mr M S Bridge (appointed 13 November 2024) Miss S Gilliver (appointed 30 September 2023, resigned 11 February 2025) Mrs M A Johnston (resigned 11 February 2025) Mr A R Lewis (resigned 11 February 2025) Mr M W Markan Mrs C A Message (appointed 11 February 2025) Mr C J Myerscough (appointed 30 September 2023, resigned 11 February 2025) Mr P J Trower (deceased 1 October 2024) ## **Company registered number** 06533051 ## **Charity registered number** 1126049 ## **Registered office** 316 Malden Road, Cheam, Sutton, Surrey, SM3 8EP ## **President** The Mayor of the London Borough of Sutton ## **Accountant** Kreston Reeves LLP, 9 Donnington Park, 85 Birdham Road, Chichester, West Sussex, PO20 7AJ Page 1 ## **Cheam Priory Day Centre** ## **(A company limited by guarantee)** ## **Trustees' report For the year ended 31 March 2024** The Trustees present their annual report together with the financial statements of the charity for the year 1 April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. ## **Objectives and activities** ## **a. Policies and objectives** The objectives of the charity which were revised in March 2014 are "To promote the welfare of the aged in any manner which now is or hereafter may be deemed by law to be charitable for those living within a reasonable distance of the charity's facilities. In particular to provide day care facilities for the elderly and also for those of any age who are affected by dementia or related conditions". In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. ## **b. Main activities undertaken to further the charity's purposes for the public benefit** Our main activities are available to all of the elderly living within the London Borough of Sutton (LBS) regardless of race or creed. Whilst we now mainly have fee paying clients, those unable to pay the fee can be referred through London Borough of Sutton Social Services who will provide a financial assessment and if appropriate will provide assistance via the direct payments scheme; many are thus able to benefit free of charge or at least receive assistance with the fees. In planning our activities the trustees always consider the public benefit requirement and ensure that services offered all meet this criteria. ## **Achievements and performance** ## **a. Review of activities** Again, we have only had a small surplus as expenditure has increased by over £35,000 from last year. Client numbers remain variable as always and, although operational revenue has remained relatively stable, it cannot be increased proportionally with the costs as we need to ensure that our services remain affordable by those families who are dependent on our services, particularly those in receipt of direct payments. The age of the building we rent from the London Borough of Sutton (LBS) contributes greatly to increased repair and utility bills. Repairs and the rent constitute a very large portion of our costs. We have highlighted this to LBS formally, and we will highlight this again with them when we discuss renewing the lease in September. Page 2 ## **Cheam Priory Day Centre** ## **(A company limited by guarantee)** **Trustees' report (continued) For the year ended 31 March 2024** ## **Financial review** ## **a. Going concern** After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. ## **b. Reserves policy** At the year end total unrestricted funds of £173,328 (2023 - £170,309) were comprised of £96,485 general funds and £76,843 designated funds (as at 31 March 2023 these were £89,058 and £81,251 respectively). At the year end £2,852 (2023 - £2,852) was held in restricted funds in regards to the Magic Table Fund. General funds include £39,749 (2023 - £35,341) tied up in fixed assets held for charitable use. Free reserves are funds available to meet shortfalls in income and to finance unexpected expenditure and fixed asset purchases. Free reserves include designated funds but exclude amounts tied up in fixed assets. At 31 March 2024 free reserves were £133,579 (2023 - £134,968). The trustees regularly review reserves. A risk-based approach is used to calculate an optimal amount of reserves that looks at reliability of income, costs for re-organisation of activities, and specific liabilities. Amounts are included for risks we are aware of as well as contingencies to allow Cheam Priory Centre to cope with unexpected costs and opportunities. We principally hold reserves to: - protect the continuity of Cheam Priory Centre’s work against uncertain future income - provide the capital needed to finance investment in operations - provide funds to replace assets - to cover for specific liabilities and identifiable risks - to allow Cheam Priory Centre to meet contractual obligations. The trustees have set optimal Free Reserves at £233,500, being £168,000 equating to approximately 3 months running costs, plus estimated redundancy costs of £65,500 should we become unable to continue operations. The free reserves of £133,579 is below this optimal level, and the Trustees continue to aim to increase this, by increasing revenue and reducing costs where possible. The trustees have a policy to designate funds for fixed asset replacement. An amount equivalent to the value of the depreciation charged in the year is transferred from general funds into these designated funds. When new fixed assets are purchased, an amount is transferred from these funds into general funds. ## **Structure, governance and management** ## **a. Constitution** Cheam Priory Day Centre is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association. Page 3 ## **Cheam Priory Day Centre** ## **(A company limited by guarantee)** **Trustees' report (continued) For the year ended 31 March 2024** ## **Structure, governance and management (continued)** ## **b. Methods of appointment or election of Trustees** The trustees who served during the year and in the period up to the date of approval of this report are shown on page 1. The trustees are also the directors of the company. The trustees, President and Executive Committee are appointed in accordance with the Memorandum and Articles of Association. Induction and training of trustees is undertaken on an individual basis as and when appropriate. Approved by order of the members of the board of Trustees and signed on their behalf by: ................................................ **Mr M S Bridge** Trustee Date: 27 March 2025 Page 4 ## **Cheam Priory Day Centre** ## **(A company limited by guarantee)** ## **Statement of Trustees' responsibilities For the year ended 31 March 2024** The Trustees (who are also the directors of the charity for the purposes 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 . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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. Approved by order of the members of the board of Trustees and signed on its behalf by: ................................................ **Mr M S Bridge** Trustee Date: 27 March 2025 Page 5 **Cheam Priory Day Centre** **(A company limited by guarantee)** ## **Independent examiner's report** **For the year ended 31 March 2024** ## **Independent examiner's report to the Trustees of Cheam Priory Day Centre ('the charity')** I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2024. ## **Responsibilities and basis of report** As the Trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report. Signed: Cre ta feowe LIP Dated: 28 March 2025 Lucy Hammond BSc FCA ## **Kreston Reeves LLP** Chartered Accountants 9 Donnington Park, 85 Birdham Road, Chichester, West Sussex, PO20 7AJ Page 6 ## **Cheam Priory Day Centre** ## **(A company limited by guarantee)** ## **Statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2024** |**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
**Total income**
**Expenditure on:**
Charitable activities
7
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**2,394**
**468,116**
**790**
**4,933**
**476,233**
**473,214**
**473,214**
**3,019**
**170,309**
**3,019**
**173,328**|**Restricted**
**funds**
**2024**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**2,852**
**-**
**2,852**|**Total**
**funds**
**2024**
**£**
**2,394**
**468,116**
**790**
**4,933**
**476,233**
**473,214**
**473,214**
**3,019**
**173,161**
**3,019**
**176,180**|Total
funds
2023
£
1,335
443,669
765
1,737| |---|---|---|---|---| |||||447,506| |||||438,164| |||||438,164| |||||9,342| |||||163,819
9,342| |||||173,161| The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 9 to 22 form part of these financial statements. Page 7 ## **Cheam Priory Day Centre (A company limited by guarantee) Registered number: 06533051** ## **Balance sheet As at 31 March 2024** ||||**2024**|**2024**||2023| |---|---|---|---|---|---|---| ||**Note**||**£**|||£| |**Fixed assets**||||||| |Tangible assets|11||**39,749**|||35,341| ||||**39,749**|||35,341| |**Current assets**||||||| |Stocks|12|**1,126**|||1,126|| |Debtors|13|**52,812**|||47,133|| |Cash at bank and in hand||**113,865**|||122,596|| |||**167,803**|||170,855|| |Creditors: amounts falling due within one||||||| |year|14|**(31,372)**|||(33,035)|| |**Net current assets**|||**136,431**|||137,820| |**Total net assets**|||**176,180**|||173,161| |**Charity funds**||||||| |Restricted funds|15||**2,852**|||2,852| |Unrestricted funds|15||**173,328**|||170,309| |**Total funds**|||**176,180**|||173,161| The charity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: ................................................ **Mr M S Bridge** Trustee Date: 27 March 2025 The notes on pages 9 to 22 form part of these financial statements. Page 8 **Cheam Priory Day Centre (A company limited by guarantee)** **Notes to the financial statements For the year ended 31 March 2024** ## **1. General information** The charity is a company limited by guarantee. The members of the charitable company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Cheam Priory Day Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The financial statements are presented in British Sterling and rounded to the nearest Pound. ## **2.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **2.3 Income** All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 9 **Cheam Priory Day Centre (A company limited by guarantee)** **Notes to the financial statements For the year ended 31 March 2024** ## **2. Accounting policies (continued)** ## **2.4 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs. ## **2.5 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. ## **2.6 Tangible fixed assets and depreciation** Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following bases: |Long-term leasehold property|- over the lease term| |---|---| |Motor vehicles|- 25% per annum on a straight line basis| |Fixtures and fittings|- 10% per annum on a straight line basis| |Office equipment|- 25% or 50% per annum on a straight line basis| ## **2.7 Stocks** Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. ## **2.8 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **2.9 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 10 **Cheam Priory Day Centre (A company limited by guarantee)** **Notes to the financial statements For the year ended 31 March 2024** ## **2. Accounting policies (continued)** ## **2.10 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. ## **2.11 Financial instruments** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **2.12 Operating leases** Rentals paid under operating leases are charged to the Statement of financial activities on a straight line basis over the lease term. ## **2.13 Pensions** The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year. ## **2.14 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Page 11 **Cheam Priory Day Centre (A company limited by guarantee)** ## **Notes to the financial statements For the year ended 31 March 2024** **3. Income from donations and legacies** |**Unrestricted**
**funds**
**2024**
**£**
Donations
2,394
Unrestricted
funds
2023
£
Donations
1,335
All income in both 2024 and 2023 was unrestricted.|**Total**
**funds**
**2024**
**£**
**2,394**| |---|---| ||Total
funds
2023
£
1,335| ||| **4. Income from charitable activities** |**Unrestricted**
**funds**
**2024**
**£**
Provision of day centre and care
468,116
Unrestricted
funds
2023
£
Provision of day centre and care
443,669|**Total**
**funds**
**2024**
**£**
**468,116**| |---|---| ||Total
funds
2023
£
443,669| All income in both 2024 and 2023 was unrestricted. Page 12 ## **Cheam Priory Day Centre (A company limited by guarantee)** **Notes to the financial statements For the year ended 31 March 2024** ## **5. Income from other trading activities** ## **Income from non charitable trading activities** |**Unrestricted**
**funds**
**2024**
**£**
Income from hall hire
790
Unrestricted
funds
2023
£
Income from hall hire
765|**Total**
**funds**
**2024**
**£**
**790**| |---|---| ||Total
funds
2023
£
765| All income in both 2024 and 2023 was from unrestricted funds. ## **6. Investment income** |**Unrestricted**
**funds**
**2024**
**£**
Bank interest receivable
4,933
Unrestricted
funds
2023
£
Bank interest receivable
1,737|**Total**
**funds**
**2024**
**£**
**4,933**| |---|---| ||Total
funds
2023
£
1,737| All income in both 2024 and 2023 was from unrestricted funds. Page 13 ## **Cheam Priory Day Centre (A company limited by guarantee)** **Notes to the financial statements For the year ended 31 March 2024** ## **7. Analysis of expenditure by activities** |Provision of day centre and care
Provision of day centre and care|**Activities**
**undertaken**
**directly**
**2024**
**£**
473,214
Activities
undertaken
directly
2023
£
438,164|**Total**
**funds**
**2024**
**£**
**473,214**| |---|---|---| |||Total
funds
2023
£
438,164| All expenditure in both 2024 and 2023 was from unrestricted funds. Page 14 **Cheam Priory Day Centre (A company limited by guarantee)** ## **Notes to the financial statements For the year ended 31 March 2024** ## **7. Analysis of expenditure by activities (continued)** ## **Analysis of direct costs** |**Provision of**
**a day centre**
**2024**
**£**
Staff costs
294,724
Depreciation
10,216
Activities
8,409
Rent
33,711
Rates and insurance
9,793
Light and heat
22,525
Maintenance, repairs and improvements
25,784
Cleaning
8,139
HR fees
1,856
Consultancy and advertising fees
5,699
Food
23,333
Transport
9,507
Postage, stationery, telephone and computing
4,222
Sundry expenses
7,151
Bookkeeping
3,025
Training
96
Bank charges
328
Independent examiner's fee
4,680
Trustee's expenses
16
473,214|**Total**
**funds**
**2024**
**£**
**294,724**
**10,216**
**8,409**
**33,711**
**9,793**
**22,525**
**25,784**
**8,139**
**1,856**
**5,699**
**23,333**
**9,507**
**4,222**
**7,151**
**3,025**
**96**
**328**
**4,680**
**16**| |---|---| ||**473,214**| Page 15 **Cheam Priory Day Centre (A company limited by guarantee)** ## **Notes to the financial statements For the year ended 31 March 2024** ## **7. Analysis of expenditure by activities (continued)** ## **Analysis of direct costs (continued)** |Staff costs
Depreciation
Activities
Rent
Rates and insurance
Light and heat
Maintenance, repairs and improvements
Cleaning
HR fees
Consultancy and advertising fees
Food
Transport
Postage, stationery, telephone and computing
Sundry expenses
Bookkeeping
Training
Bank charges
Independent examiner's fee
Trustee's expenses|Provision of
a day centre
2023
£
275,372
12,163
7,024
33,000
10,202
12,021
18,973
7,007
1,808
10,344
23,884
9,562
5,738
4,041
2,590
668
318
3,420
29
438,164|Total
funds
2023
£
275,372
12,163
7,024
33,000
10,202
12,021
18,973
7,007
1,808
10,344
23,884
9,562
5,738
4,041
2,590
668
318
3,420
29| |---|---|---| |||438,164| ## **8. Independent examiner's remuneration** The independent examiner's remuneration amounts to an independent examination and financial statements preparation fee of £4,680, of which £540 relates to the 2023 financial statements (2023 - £3,420). ## **9. Staff costs** |Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2024**
**£**
**272,580**
**17,863**
**4,281**
**294,724**|2023
£
255,830
15,872
3,670| |---|---|---| |||| |||275,372| Page 16 **Cheam Priory Day Centre (A company limited by guarantee)** ## **Notes to the financial statements For the year ended 31 March 2024** ## **9. Staff costs (continued)** The average number of persons employed by the charity during the year was as follows: ||**2024**|2023| |---|---|---| ||**No.**|No.| |Average monthly number of employees|**12**|12| No employee received remuneration amounting to more than £60,000 in either year. Remuneration of key management personnel for the year consisted of wages and salaries of £57,028 (2023: £52,212) and social security costs of £6,615 (2023: £6,264). ## **10. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 March 2024, expenses totalling £16 were reimbursed or paid directly to 1 Trustee (2023 - £29 to 1 Trustee). The expenses related to travel costs. Page 17 ## **Cheam Priory Day Centre (A company limited by guarantee)** ## **Notes to the financial statements For the year ended 31 March 2024** ## **11. Tangible fixed assets** |**Cost or valuation**
At 1 April 2023
Additions
Disposals
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
On disposals
At 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023|**Long-term**
**leasehold**
**property**
**£**
**55,326**
**-**
**(11,965)**
**43,361**
**33,895**
**5,331**
**(11,965)**
**27,261**
**16,100**
21,431|**Motor**
**vehicles**
**£**
**60,310**
**14,000**
**-**
**74,310**
**51,123**
**4,023**
**-**
**55,146**
**19,164**
9,187|**Fixtures and**
**fittings**
**£**
**19,460**
**-**
**-**
**19,460**
**18,434**
**53**
**-**
**18,487**
**973**
1,026|**Office**
**equipment**
**£**
**33,681**
**624**
**-**
**34,305**
**29,984**
**809**
**-**
**30,793**
**3,512**
3,697|**Total**
**£**
**168,777**
**14,624**
**(11,965)**| |---|---|---|---|---|---| ||||||**171,436**| ||||||**133,436**
**10,216**
**(11,965)**| ||||||**131,687**| ||||||**39,749**| ||||||35,341| ## **12. Stocks** |Finished goods and goods for resale
**13.**
**Debtors**
**Due within one year**
Trade debtors
Other debtors
Prepayments and accrued income|**2024**
**£**
**1,126**
**2024**
**£**
**41,985**
**609**
**10,218**
**52,812**|2023
£
1,126
2023
£
37,034
512
9,587| |---|---|---| |||47,133| Page 18 ## **Cheam Priory Day Centre (A company limited by guarantee)** ## **Notes to the financial statements For the year ended 31 March 2024** ## **14. Creditors: Amounts falling due within one year** |Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
**Deferred income**
Deferred income at 1 April 2023
Resources deferred during the year
Amounts released from previous periods|**2024**
**£**
**9,366**
**85**
**1,985**
**19,936**
**31,372**
**2024**
**£**
**11,732**
**11,732**
**(11,732)**
**11,732**|2023
£
13,420
-
1,823
17,792| |---|---|---| |||33,035
2023
£
11,732
11,732
(11,732)| |||11,732| Page 19 **Cheam Priory Day Centre (A company limited by guarantee)** **Notes to the financial statements For the year ended 31 March 2024** ## **15. Statement of funds** ## **Statement of funds - current year** |**Unrestricted funds**
**Designated funds**
Designated Fund
**General funds**
General Fund
**Total Unrestricted funds**|**Balance at 1**
**April 2023**
**£**
**81,251**
**89,058**
**170,309**|**Income**
**£**
**-**
**476,233**
**476,233**|**Expenditure**
**£**
**-**
**(473,214)**
**(473,214)**|**Transfers**
**in/out**
**£**
**(4,408)**
**4,408**
**-**|**Balance at**
**31 March**
**2024**
**£**
**76,843**| |---|---|---|---|---|---| ||||||**96,485**| ||||||**173,328**| Designated funds represent amounts allocated by the trustees towards replacing fixed assets. |**Restricted funds**
Magic Table Fund
**Total of funds**|**2,852**
**173,161**|**-**
**476,233**|**-**
**(473,214)**|**-**
**-**|**2,852**| |---|---|---|---|---|---| ||||||**176,180**| Magic Table Fund, this is a collection donations from families to be used to help clients suffering with dementia. Page 20 **Cheam Priory Day Centre (A company limited by guarantee)** **Notes to the financial statements For the year ended 31 March 2024** ## **15. Statement of funds (continued)** ## **Statement of funds - prior year** |Balance at
1 April 2022
£
Income
£
**Unrestricted funds**
**Designated funds**
Designated Fund
76,919
-
**General funds**
General Fund
84,048
447,506
**Total Unrestricted funds**
160,967
447,506
**Restricted funds**
Magic Table Fund
2,852
-
**Total of funds**
163,819
447,506
**16.**
**Analysis of net assets between funds**
**Analysis of net assets between funds - current period**

Tangible fixed assets
Current assets
Creditors due within one year
**Total**|Expenditure
£
-
(438,164)
(438,164)
-
(438,164)
**Unrestricted**
**funds**
**2024**
**£**
39,749
164,951
(31,372)
173,328|Transfers
in/out
£
4,332
(4,332)
-
-
-
**Restricted**
**funds**
**2024**
**£**
-
2,852
-
2,852|Balance at
31 March
2023
£
81,251
89,058
170,309| |---|---|---|---| ||||2,852
173,161
**Total**
**funds**
**2024**
**£**
**39,749**
**167,803**
**(31,372)**| ||||**176,180**| Page 21 **Cheam Priory Day Centre (A company limited by guarantee)** ## **Notes to the financial statements For the year ended 31 March 2024** ## **16. Analysis of net assets between funds (continued)** ## **Analysis of net assets between funds - prior period** |Tangible fixed assets
Current assets
Creditors due within one year
**Total**|Unrestricted
funds
2023
£
35,341
168,003
(33,035)
170,309|Restricted
funds
2023
£
-
2,852
-
2,852|Total
funds
2023
£
35,341
170,855
(33,035)| |---|---|---|---| ||||173,161| ## **17. Pension commitments** The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £4,281 (2023 - £3,670). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors. ## **18. Operating lease commitments** At 31 March 2024 the charity had commitments to make future minimum lease payments under noncancellable operating leases as follows: |Not later than 1 year
Later than 1 year and not later than 5 years|**2024**
**£**
**34,422**
**17,211**
**51,633**|2023
£
33,000
49,500| |---|---|---| |||| |||82,500| The following lease payments and changes in lease payments have been recognised in the Statement of financial activities: ||**2024**|2023| |---|---|---| ||**£**|£| |Operating lease rentals|**33,711**|33,000| ## **19. Related party transactions** The charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charity at 31 March 2024. Page 22