## ## ||||||Page| |---|---|---|---|---|---| |Governors'
report|||||1-6| |Independent
Auditor's|report||||7-10| |Statement
of Financial|Activities|(incorporating|the Income and Expenditure|Account)|| |Balance sheet|||||12| |Statement ofcash flows|||||| |Notes to the financial|statements||||14 —28| ## ## ## |Elected governors|Elected governors|The Rt Hon the Earl|ofAylesford|ofAylesford|(Chairman)|(Chairman)|| |---|---|---|---|---|---|---|---| |||The Rt Hon Viscount|Daventry||||| |||Sir William
Dugdale|Bt||||| |||J Evans OBE|||||| |||M C Fetherston-Dilke|||||| |||Mrs N Hammett|||||| |||Mrs C Hopkinson|||||| |||R Macpherson
(appointed||20 July 2022)|||| |||Mrs C Matthews|||||| |||Mrs C Sawdon JP (resigned 2 November||||2022)|| |Ex-officio|governor|The Rt Revd The Lord Bishop of Birmingham|||||(retired 18October 2022)| |Governors|nominated|M Adlington
(retired|20 July 2022)||||| |by Solihull|MBC|D Bell|||||| |||Councillor
A Burrow|||||| |Master||The Revd D Collins|(appointed||18July 2023)||| |||The Revd K Lloyd-Roberts||(retired 30September 2022)|||| |Bailiff||Mrs SWoodman
ACA|||||| |Care manager||Mr S Blancaflor|||||| ## ## |Year ended 30Jun|Year ended 30Jun|e 2023|e 2023|||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |Charity registration||number||1146710||||||||| |Company|registration||number|07890553||||||||| |Registered|office|||Temple House||||||||| |||||Temple Balsall||||||||| |||||Knowle||||||||| |||||Solihull||||||||| |||||B93OAN||||||||| |Auditor||||Dafferns
LLP||||||||| |||||Chartered
Accountants||||and Statutory|||Auditor|| |||||One Eastwood||||||||| |||||Harry Weston Road||||||||| |||||Binley Business||Park||||||| |||||Coventry||||||||| |||||CV3 2UB||||||||| |Bankers||||HSBC Bank pic||||||||| |||||130New Street||||||||| |||||Birmingham||||||||| |||||B24JU||||||||| |Solicitors||||Wright Hassall|LLP|||||||| |||||Olympus
Avenue||||||||| |||||Leamington
Spa||||||||| |||||Warwickshire||||||||| |||||CV34 6BF||||||||| |investment|managers|||Sarasin & Partners|||LLP|||||| |||||Juxon House||||||||| |||||100St. Paul's Churchyard||||||||| |||||London||||||||| |||||EC4M 8BU||||||||| |||||Property
Income||Trust for|||Charities|||| |||||Mayfair Capital|Investment||||Management|||Limited| |||||55 Wells Street||||||||| |||||London||||||||| |||||WIT 3PT||||||||| |||||Charities
Property|||Fund|||||| |||||Savills Investment|||Management|||||| |||||33 Margaret Street||||||||| |||||London||||||||| |||||WIG OJD||||||||| |||||CCLA Investment||Management||||Limited||| |||||Senator House||||||||| |||||85Queen Victoria|||Street|||||| |||||London||||||||| |||||EC4V4ET||||||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Year ended 30June 2023||||||| |---|---|---|---|---|---|---| ||||||Total|Total| |||Unrestricted|Restricted|Endowment|funds|funds| ||Note|funds
E|funds|funds
f|2023
f.|2022
f.| |Income from:||||||| |Donations
and legacies
Charitable
activities||7,833
1,492,325|24,258||32,091
1,492,325|38,675
1,333,187| |Other trading
activities
Investments||1,660
233,583||123,702|1,660
357,285|1,085
314,081| |Other income||12,012|||12,012|96,658| |Allocated to income from||||||| |unapplied
total return||123,702||(123,702)||| |Total income||1,871,115|24,258||1,895,373|1,783,686| |Expenditure
on:||||||| |Property
management
Charitable
activities|10
11|(214,920)
(1,524,896)|(1,883)
(4,292)||(216,803)
(1,529, 188)|(216,739)
(1,452,268)| |Total expenditure||(1,739,816)|(6,175)||(1,745,991)|(1,669,007)| |Net income/(expenditure)
before investment
gains||131,299|18,083||149,382|114,679| |and losses||||||| |Net gains/(losses)
on
investments|19,
20|10,514||(58,808)|(48,294)|(345,827)| |Net income/(expenditure)
after losses on||141,813|18,083|(58,808)|101,088|(231,148)| |investments||||||| |Transfers
between funds|25|977|(977)|||| |Net movement
in funds|25|142,790|17,106|(58,808)|101,088|(231,148)| |Reconciliation
offunds:||||||| |Total funds brought
forward|25|3,332,579|21,764|18,501,072|21,855,415|22,086,563| |Total funds carried|25|3,475,369|38,870|18,442,264|21,956,503|21,855,415| |forward||||||| ## ## ||||||2023|2022| |---|---|---|---|---|---|---| |||||Note||| |Fixed assets||||||| |Tangible assets
Investments||||18
19|4,224,648
15,725,681|4,150,335
15,775,537| |Current assets|||||19,950,329|19,925,872| |Investments
Stocks
Debtors
Cash at bank and|in hand|||20
21
22|1,062,093
1,909
115,732
1,206,858|860,531
1,854
119,345
1,352,662| ||||||2,386,592|2,334,392| |Creditors: amounts||falling|due|||| |within one year||||23|(380,418)|(404,849)| |Net current assets|||||2,006,174|1,929,543| |Net assets|||||21,956,503|21,855,415| |Charity funds||||||| |Permanent
endowment
Restricted funds
Unrestricted
funds:||||25
25|18,442,264
38,870|18,501,072
21,764| |- Income and expenditure
-Designated
funds|||fund|25
25|1,918,254
1,557,115|1,780,559
1,552,020| ||||||3,475,369|3,332,579| |||||26|21,956,503|21,855,415| ## ## ||||2023|2022| |---|---|---|---|---| |||Note||E,| |Cash flow from operating
activities||27|(168,447)|(238,949)| |Net cash flow from operating|activities||(168,447)|(238,949)| |Cash flow from investing
activities
Tangible fixed assets acquired
Transfer offunds to higher rate savings
Interest received|||(134,642)
(200,000)
32,583|(68,430)
2,133| |Dividends
received|||164,539|163,877| |Rents received from investment
properties|||160,163|148,071| |Net cash flow from investing|activities||22,643|245,651| |Net decrease
in cash and cash equivalents|||(145,804)|6,702| |Cash and cash equivalents|at 1July 2022||1,352,662|1,345,960| |Cash and cash equivalents|at 30June 2023||1,206,858|1,352,662| |Cash and cash equivalents|consist of:|||| |Cash at bank and
in hand|||1,206,858|1,352,662| |Cash and cash equivalents|at 30June 2023||1,206,858|1,352,662| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Income from donations
and legacies||| |---|---|---| ||2023|2022| ||f|| |Donations|25,691|13,175| |Legacies|6,400|25,500| ||32,091|38,675| ## ## ## ||2023|2022| |---|---|---| |Residential
care
Sheltered
accommodation|1,170,258
100,518|1,196,476
64,276| |Respite care|199,089|62,551| |Domiciliary care
Qther income|18,937
3,523|6,638
3,246| ||1,492,325|1,333,187| ## |||2023|2022| |---|---|---|---| |Dividend|and interest income|197,122|166,010| |Rental income||160,163|148,071| |||357,285|314,081| ## ## ## ||||||||Endowment|Unapplied|Permanent| |---|---|---|---|---|---|---|---|---|---| ||||||||fof|total|endowment| ||||||||investment|return|investments| ||||||||f.||f.| |At 1 July 2022|||||||2,351,462|1,763,110|4,114,572| |Movements|||||||||| |Investment|income|||||||123,702|123,702| |Gains
/ (losses)||||||||(58,808)|(58,808)| |||||||||64,894|64,894| |Unapplied|total|return allocated||to income||||(123,702)|(123,702)| |Net movement||in the reporting||period||||(58,808)|(58,808)| |Total value of permanent
30June 2023|||endowment||investments|at|2,351,462|1,704,302|4,055,764| ## ## ## |nalysis ofexp|enditure
on charita|ble activities|||| |---|---|---|---|---|---| |||Activities|||| |||undertaken|Support|Total|Total| |||directly|costs|2023|2022| |Care home|||||| |Provision ofcare services||1,283,938|142,557|1,426,495|1,333,382| |Routine maintenance||62,625||62,625|66,016| |Major repairs|||||8,580| |||1,346,563|142,557|1,489,120|1,407,978| |Support for:|||||| |St Mary's Church||32,833||32,833|32,909| |Lady Katherine|Leveson School|7,235||7,235|11,381| |||1,386,631|142,557|1,529,188|1,452,268| ## ## ## |Support costs||| |---|---|---| ||2023|2022| |Master's salary (part)|5,198|13,828| |Management|85,132|54,706| |Administration|9,143|8,728| |Insurance|24,202|26,513| |Governance (see note 13)|18,881|20,604| ||142,557|124,379| |Governance costs||| ||2023|2022| ||F|| |Audit and accountancy|11,628|14,100| |Bailiffs salary (part)|7,253|6,504| ||18,881|20,604| ## ## ## |nalysis of net incomi|ng
resourc|es|||| |---|---|---|---|---|---| |||Properties||Other|| |||and|Care home|charitable|| |||investments|activities|activities
f|Total
f.| |Income:|||||| |Donations
and legacies||1,883|19,125|11,083|32,091| |Rental and other|||||| |investment
income||357,285|||357,285| |Charitable
activities|||1,492,325||1,492,325| |Other income||2,819|10,853||13672| |Total income||361,987|1,522,303|11,083|1,783,686| |Expenditure:|||||| |Raising funds —property
management||(216,803)|||(216,803)| |Charitable
activities|||1,489,120||| |Total expenditure||(216,803)|(1,489,120)|(40,068)|(1,745,991)| |Net income||145,184|33,183|(28,985)|149,382| |Notional
rent payable
care home|by|238,050|(238,050)||| |Total||383,234|(204,867)|(28,985)|149,382| ## ## ## ## |||||||2023||2022|| |---|---|---|---|---|---|---|---|---|---| |Master,|Bailiff,|and care|Manager||||2||3| |Care assistants,||kitchen,|manual|and other administration|staff||42||41| ||||||||44||| |Total staff costs and employee
benefits were as|follows:|| |---|---|---| ||2023|2022| |Wages and salaries|1,008,523|976,545| |Social security costs|60,666|54,102| |Pension costs|19,634|18,011| ||1,088,823|1,048,658| ## ## ## ## ## ## |Fixed as|se|t investments||||| |---|---|---|---|---|---|---| ||||Permanent|Permanent|Unrestricted|| ||||endowment|endowment|fund|| ||||properties|investments|investments|Total| ||||f.|f.||| |Valuation||||||| |At 1 July|2022||10,461,500|4,114,572|1,199,465|15,775,537| |Change
in||market value||(58,808)|8,952|(49,856)| |At 30June||2023|10,461,500|4,055,764|1,208,417|15,725,681| |Investments||at fair value|comprise:|||| ||||||2023|2022| |Investment||properties|||10,461,500|10,461,500| |Property|trusts||||352,696|438,197| |Income and growth funds|||||4,911,485|4,875,840| ||||||15,725,681|15,775,537| ## |At 1 July|2022|860,531| |---|---|---| |Transfer|offunds to higher rate savings|200,000| |Change|in market value|1,562| |At 30June 2023||1,062,093| |Cost||776,111| ## ## |21|Stocks|||||| |---|---|---|---|---|---|---| ||||||2023|2022| ||Food, cleaning|and laundry|||1,909|1,854| ||||||1,909|1,854| |22|Debtors|||||| ||||||2023f|2022| ||Residents'
contribution|||arrears|16,966|9,330| ||Rent arrears||||19,537|43,938| ||Prepayments
Other debtors|and accrued income|||39,093
40,136|46,935
19,142| ||||||115,732|119,345| |23|Creditors: amounts||falling due within one year|||| ||||||2023|2022| ||Trade creditors
Other tax and social security
Accruals
Other creditors
Residents'
contribution
in advance
Related
party creditor (see note 31)||||65,353
20,255
161,666
58,474
69,988
4,682|61,574
16,964
156,109
108,433
57,839
3,930| ||||||380,418|404,849| ## |Operating
leases
Total future
minimum
lease payments
under non-cancellable|operating
leases are as follo|ws:| |---|---|---| ||2023|2022| ||f.|| |Not later than one year
Later than one and not later than five years
Later than five years|7,262
24,830
5,438|5,515
20,089
9,108| ## ## ## ## |Restricte|d|funds||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||||Balance|||||||||| ||||at1 July
2022
F|Income
F||Expenditure||Transfers
F||Gains j
(losses)
F|Balance at
30 June 2023
F|| |Donation|reserve||21,764||24,258||(6,175)||(977)|||38,870| ||||21,764||24,258||(6,175)||(977)|||38,870| |Donations||reserve|represents
donations||received|less expenditure||incurred
in line||with donors' wishes.||| |Unrestricted||funds||||||||||| ||||Balance|||||||Unrealised||Balance at| ||||at 1July|||||||Gains I||30June| ||||2022|Income
F|||Expenditure||Transfers|(losses)
F||2023
F| |Income and||||||||||||| |expenditure
Designated:|fund||1,780,559||1,871,115||(1,739,816)||(99,023)|5,419||1,818,254| |Property||||||||||||| |improvements
Lady Cadbury|||850,000||||||100,000|||950,000| |bequest
Barbara Leonard|||310,729|||||||2,319||313,048| |bequest
Major repair|reserve||180,760
210,531|||||||1,214
1,562||181,974
212,093| ||||3,332,579|1,671,115|||(1,746,016)||977|10,514||3,475,169| ## ## ## ## |Permanent|endowm|ent|||| |---|---|---|---|---|---| ||||Allocated to||| |||Balance at|income from||| |||1 July
2022
Income|unapplied
total return
f.|Gains
/
(losses)|Balance at
30June 2023
f| |Endowment|funds|18,501,072
123,702|(123,702)|(58,808)|18,442,264| |||18,501,072
123,702|(123,702)|(58,808)|18,442,264| |Analysis|of net assets between funds||||| |||Permanent|Restricted|Unrestricted|| |||endowment|funds|funds
f|Total
f.| |Fixed assets
Investments
Current assets||3,925,000
14,517,264|38,870|299,648
1,208,417
2,347,722|4,224,648
15,725,681
2,386,592| |Current|liabilities|||(380,418)|(380,418)| |Total||18,442,264|38,870|3,475,369|21,956,503| ## ## |Reconciliation
of net income to net ca|sh flow from operating|activities|| |---|---|---|---| |||2023|2022| |||E|| |Net income for year
Dividends
received
Interest receivable
Rental income
Depreciation
and impairment
oftangible
(Gains)/losses
on investments
Loss on disposal oftangible
fixed assets
(Increase)/decrease
in stock
(Increase)/decrease
in debtors
Increase/(decrease)
in creditors|fixed assets|101,088
(164,539)
(32,583)
(160,163)
55,061
48,294
5,269
(55)
3,613
(24,432)|(231,148)
(163,877)
(2,133)
(148,071)
53,792
345,827
1,294
(224)
(34,220)
(60,189)| |Net cash flow from operating
activities||(168,447)|(238,949)| ## ## ## ## ## ## ##