Charlty registration number 1152372
Company registration number 08462149 (England and Wales)
SWINNERTON TRUST LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

SWINNERTON TRUST LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs CJ Moir
Mr P Whiteman
Mr R Erskine
Mrs S Davis
MrPJETracy
Mrs K Ward
(Appointed 26 July 20231
(Appointed 29 November
20231
Charlty number
1152372
Company number
08462149
Princlpal address
Manor Court
Manor Court Road
Nuneaton
Warwickshire
CVII SHU
Registered office
l The Courtyard
Goldsmith Way
Eliot Park
Nuneaton
Warwickshire
CVIO 7RJ
Independent examlner
Burgis & Bullock
l The Courtyard
Goldsmith Way
Eliot Park
Nuneaton
Warwickshlre
CVIO 7RJ
Solicitors
Cocks Lloyd Solicitors
Cocks Lloyd Solicitors
Riversley House
Coton Road
Nuneaton
Warks
United Klngdom
CVII 5TX

SWINNERTON TRUST LIMITED
CONTENTS
Page
Trustees, report
Independent examiner's report
Statement of flnancial actlvltles
9-10
Balance sheet
11-12
Statement of cash flows
13
Notes to the financial statements
14-24

SWINNERTON TRUST LIMITED
TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report and flnancial statements for the year ended 31 March 2024.
The accounts have been prepared in accordance with the accounting policies set out in note I to the
accounts and comply with the Trust's governing document, the Companies Act 2006 and the Statement of
Recommended Practice, "Accounting and Reporting by Charities" applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of
Ireland {FRS 1021.
Objertives and activities
Mission Statement
Our mission at Manor Court Care Home is to provide high-quality, compassionate care for our residents in
a safe and comfortable environment. We strive to enhance the well-being and independence of our
residents through personalised care and support, whilst promoting dignity and respect. We are committed
to maintainlng the highest standards of care and service and to continuously improve our care practices.
We are a charitable organisation, dedicated to serving our community and to making a positive difference
to the lives of those we care for.
Val
Compasslon; We believe in treating residents with kindness, empathy and understanding. We strive to
create a homelyi caring and supportive environment that promotes well-being and comfort.
Respert: We believe in treating all resident5, Staff and visitors with dignity and respect and recognising
and valuing the unique needs and preferences of each individual.
Excellence: We strive to provide high-quality care and serVI￿S that meet the needs of our residents and to
continuously improve our standards and performance
Integrity: We believe in belng honest, transparent and accountable in all our actlons and in maintaining
the highest ethical standards In everything we do.
Independence: We believe in supporting residents to maintain their Independence and autonomy as
much as possible and providing them with the tools and resources needed to make their own choices and
decisions.
Teamwork: We believe in working together as a team to provide the best possible care and services to our
residents and fostering a culture of collaboration and mutual support among staff.
Innovatlon: We believe in being open to new ideas and approaches and in embracing innovation to
enhance the quality of care and service5 we provide.
Inclusivlty: We believe in providing a welcoming and inclusive environment that respects and celebrates
diversity and in providing care and services that are accessible to all

SWINNERTON TRUST LIMITED
TRUSTEES, REPORT (CONTINUED)(INCLUDING DIREcfoRS' REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
At Manor Court Care Home we provlde a wide range of care services to meet the needs of our residents.
Our care services include:
Resldential care: We provide residential care to residents who need assistance with daily living activities
such as bathing, dressing and eating. Our staff provide a high standard of care to ensure that residents feel
welcome, comfortable and secure in their new home. Meals are prepared and cooked in-house using only
the best produce.
Dementla care: Staff are trained in the latest dementia care practices and are able to provide tailored
support to meet the unique needs of each resident.
Palliative care: Staff provide compassionate and sensitive care for residents nearing the end of their live5.
Our team work5 closely with residents, their families. friends and primary care professionals to ensure that
the resident's end-of-life care is tailored to their individual needs and wishes.
Resplte care: Manor Court offer5 short-term care for residents who need a break from their usual care
arrangements. This can be particularly beneficial for carers who need a break or for residents recovering
from an illness or operation.
In summary, Manor Court Care Home provides a range of care services to meet the diverse needs of our
residents. Staff are well-qualified, highly trained and dedicated to providing the highest standard of care to
ensure the well-being and comfort of our residents.
Employees
We maintain appropriate staffing levels to ensure that residents receive the care and support needed. Our
staff-to-resident ratio is in line with the guidelines set by the Care Quality Commission {CQC).
Staff qualificatlons
Our staff are sultably qualified and trained to provide the care and services required by residents. All staff
participate in regular training and development to ensure they are up to date with the latest care practices
and standards.
We express our appreciation to all our staff members and volunteers fortheir commitment to the home.
Strategic report
The description under the headings "Achievements and performance" and 'Financial review" meet the
company law requirements for the Trustees to present a strategic report.

SWINNERTON TRUST LIMITED
TRUSTEES, REPORT (CONTINUED)(INCLUDING DIREcfoRS' REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
Achlevements and performance
Over the past 12 months the Board has continued with the refurbishment of Manor Court delayed by
Covid restrittions
External Audits
Care Quality Commission
The board were delighted that CQC recognised the homes commitment to contlnuous improvement and
awarded the service an overall "GOOD".
Warwlckshlre County Councll QualltyTeam
The home continues to work in partnership with the local authority and as such remains on the council's
framework for providing socially funded places on a spot purchase basis, irrespective of source of funding
be it private or socially funded all residents at Manor Court enjoy the same high standards of care.
Financlal
The home's accounts are independently examined each year by an external firm of Chartered
Accountants.
Independent Quality Audlt
In addition to statutory inspections by the Care Quality Commission the Trust recognises that quality is
paramount and arranges for quarterly quality audits to undertaken by an external advisor to monitor
quality standards and care performance.
Financial revlew
It is the policy of the Trustees to maintain free reserves at a level sufficient to cover large, unforeseen
costs, which may be incurred to maintain the properties, cover reasonable operating costs and to ensure
that the charity can run efficiently meeting the need5 of the beneficiaries.
Total unrestricted reserves amounted to £1,743,069 at the end of the year. The total amount of reserves
fund that can only be realised by disposing of tangible fixed assets amounted to £1,160,494.

SWINNERTON TRUST LIMITED
TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT)
FOR THE YEAR EhlDED 31 MARCH 2024
Principal Fundlng Sources
Funding is predominantly derived from residents, fees either socially funded and to a modest extent self
funding and whilst the balance fluctuates as the fees for self funders are greater, this has an impact. A
new contract was agreed with Warwickshire County Council in 2021. The Board have welcomed recent
increases in fees for socially funded residents. Additional funding is derived from Investment income.
revenue from the Trust's properties and some contribution from donations.
Legal Advisor
The directors wish to express their gratitude to Clark Willmott LLP Solicitor5 and partner Mr John Irving for
the pro bono work carried out in previou5 years for the Trust. This is now undertaken by Mr Peter Tracy
member of the board. Mr Tracy is a solicitor at Cocks Lloyd solicitors.
Risk Assessment and Plans for the firture
The factors most likely to affect future financial performance or positlon are the increasing pressure on
operational costs especially the statutory increase in minimum hourly wages rates as from April 5, 2024,
against a background of the very modest increase in fees from WCC for the year 202412025 which will be
insufficient to cover salaries and national insurance which We￿ 72.8% of residents fees in 2024 This
impacts the Charity's ability to generate an appropriate surplus to sustsin and improve activities. However
the board is conscious of the very hard work of the manager to contain other costs as noted in the report
last year of plans for the future.
The extent to which this affects the charity's existing attivities will depend on local and central
government policy.
The Trustees have assessed the major risks to which the Trust is exposed and is satisfied that systems are
in place to mitigate exposure to the major risks.

SWINNERTON TRUST LIMITED
TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
Strurturei governance and management
Swinnerton Trust Limited (the Trust) is governed by its Memorandum of Assoclation dated 26 March 2013.
The Trust is a charitable company, limited by guarantee having no share capital, as defined by the
Companies Act 2006. The liability of the members is £10.
Date of incorporation:
26 March 2013
Registered company number..
08462149
Re8lStered charity number:
1152372
Registered office:
l The Courtyard
Goldsmith Way
Eliot Park
Nuneaton
Warwickshire
CVIO 71U
The Trustees, who are also the directors for the purpose of company law, and who served during the year
and up to the date of signature of the financial statements were:
DrA Kumar
Mrs CJ Moir
Mr P Whiteman
Mr R Erskine
Mrs S Davis
MrPJ ETracy
Mrs K Ward
(Resigned 6 November 2023)
(Appointed 26 July 2023)
(Appointed 29 November 2023}

SWINNERTON TRUST LIMITED
TRUSTEES, REPORT (CONTINUED)(INCLUDING DIREcfoRS' REPORT AND STRATEGIC REPORn
FOR THE YEAR ENDED 31 MARCH 2024
The Board express their gratitude to Dr Arun Kumar for his contribution to the Home over many years.
Any applications received in respect of potential new trustees are reviewed by the existing trustees and
approved by the main board.
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the
company and guarantee to contribute £10 in the event of a winding up
Management Commlttee
This now comprises solely of Mrs S Harris treasurer and Management committee meetings are no longer
held.
The board wishes to express its thanks to those who previously served especially Mrjohn Frisby
Recrultment and Appolntment of Trustees. Inductlon and Tralnlng
In an effort to maintain a broad set of skills, the make-up of the board is reviewed at least once a year,
during this time other organisations or people may be approached to see if they are willing to contribute.
New board members attend an induction to familiarise themselves with the charity, the legal context
within which it operates and their responsibilities.
All board members are regularly updated with Information pertinent to thelr role as Directors and on
matters relating to the operation of the charity.
The Trust has undertaken indemnity insurance on behalf of the trustees in the year.
Or8anlsation
Swinnerton Trust Ltd has five volunteer non-executive Directors, who along with the Registered Manager,
also a director, are responsible for the overall running of Manor Court Care Home. This group formulates
policy and procedure,
Rernuneration Policy
A5 the age profile of the nation changes with a growing number of elderly people with increasing care
needs and expectations, care providers are facing a perfect storm of pressures to recruit and retain a
workforce to meet these changes, including'.-
Higher ski115tandards and associated training costs to develop and maintain those skills.
Blurring of the boundaries between care and nursing, many aspects of care today would have
been considered nursing some years ago.
Market forces, competition for the experienced workforce from other care providers.

SWINNERTON TRUST LIMITED
TRUSTEES, REPORT (CONTINUED)(INCLUDING DIREcfoRS' REPORT AND STRATEGIC REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
Our resident's best interests, keeping staff turnover to an absolute minimum to provide that all
important continuity of care.
Impact of the statutory living wage whilst maintalning pay differentials
Workplace pensions.
The policy of the Trustees is to maintain a remuneration policy that enables the recruitment and retention
of adequately qualified and experienced staff whilst balancing market pressures against the charities own
ablllty to pay.
Additionally the Trust alms to be a good employer golng beyond meeting minimum legal obligations to
provide support or help when employees experience difficulties within the work environment or outside.
Volunteers
Volunteers from the local community assist in the homes two major social events the summer Garden
Fete and Christmas Carol Concert; without the help of volunteers the trust would be unable to stage these
events.
The Trust has also benefitted from a significant amount of work in the grounds of Manor Court by the
Princes Trust and the local Community Payback Team, this is greatly appreciated. This work has improved
access to the grounds facilitating resident5 to spend more time enjoying the garden areas.
The Trustees, report, Includlng the strategic report, was approved by the Board of Trustees.
Mr P Whiteman
Trustee
Dated: ..1%. J.osi.102

SWINNERTON TRUST LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF SWINNERTON TRUST LIMITED
I report to the Trustees on my examination of the financial statements of Swinnerton Trust Limited (the
Trust) for the year ended 31 March 2024.
Responsibilities and basis of report
As the Trustees of the Trust land also its directors for the purposes of company lawl you are responsible
for the preparation of the financial statements in accordance with the requirements of the Companies
Act 2006 {the 2006 Act).
I report in respect of my examination of the Charity's flnanclal statements carried out under section 145
of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the
Charity Commi55ion under section 145(51{bl of the 2011 Act.
Independent examlnerfs staternent
Since the Trust'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 l am qualified to undertake the examination because l am a
member of the Association of Chartered Certified Accountants, 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 that in any material respect,.
accounting records were not kept in respect of the Trust as required by sertion 386 of the 2006 Act;
or
the financial statement5 do not accord with those records; or
the financlal statements 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 vlew which is not a
matter considered as part of an independent examination,- or
the financial statements have not been prepared in accordance with the methods and principles of
the Statement of Recommended Practlce for accounting and reporting by charitie5 applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland (FRS 1021.
I have no concerns and have come across no other matters in connettion with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the financial
statements to be reached.
Wende Hubbard FCCA
Burgis & Bullock
l The Courtyard
Goldsmith Way
Nuneaton
Warwickshire
CVIO 7FU

SWINNERTON TRUST LIMITED
STATEMENT OF FINANCIAL ACTivrriES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Current financlal year
Unrestrlcted
funds
2024
Total
2023
Notes
Income from:
Donations
Charitable activities
Residential care
Investments
iii
320
793,930
50,878
684,201
45,314
Total income
844,919
729,835
Ex
enditure on:
Raising funds
10,208
6.547
Charitable activities
Residential care costs
838,141
819,566
Total charitable expenditure
838,141
819,566
Total expenditure
848,349
826,113
Net expendlture for the year/
Net movement in funds
(3,4301
{96,2781
Fund balances at l April 2023
1,746,499
1,842,777
Fund balances at 31 March 2024
1,743,069
1,746,499
The statement of financial activities includes all gains and losses recognised in the year,
The statement of financial attivities includes all gains and 10s5es recognised in the year. All income and
expenditure derive from continuing activities.
The statement of financial activitie5 also complies with the requirements for an income and expenditure
account under the Companies Act 2006.

SWINNERTON TRUST LIMITED
STATEMENT OF FINANCIAL AcfiviTIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Priorfinancial year
Unrestricted Restrlcted
funds
funds
2023
2023
Total
2023
Notes
Income from:
Donations
Charitable activities
Residential care
Investments
320
320
684,201
45,314
684,201
45,314
Total income
729,835
729,835
endlture on:
Raising funds
6,547
6,547
Charitable activities
Residential care costs
819,566
819,566
Total charitable expenditure
819,566
819,566
Total expenditure
826,113
826,113
Gross transfers between funds
Net expenditure for the year/
Net movement in funds
517
{517)
(95,761)
15171 196,2781
Fund balances at l April 2022
1,842,260
517 1,842,777
Fund balances at 31 March 2023
1,746,499
1,746,499
10-

SWINNERTON TRUST LIMITED
BALANCE SHEET
ASAT31 MARCH 2024
2024
2023
Notes
Flxed assets
Tangible assets
Investment propertles
li
12
635,494
525,000
649,362
525,000
1,160,494
1,174,362
Current assets
Debtors
Cash at bank and in hand
13
92,982
549,024
74,463
544,622
642,006
619,085
Credltors: amounts falllng due within
one year
14
{59,431)
146,9481
Net current assets
582,575
572,137
Total assets less current liabllltles
1,743,069
1,746,499
Income funds
General unrestricted funds
Revaluation reserve
1,605,568
137,501
1,608,998
137,501
1,743,069
1,746,499
1.743,069
1,746,499
11

SWINNERTON TRUST LIMITED
BALANCE SHEET (CONTINUED)
ASAT31 MARCH 2024
The company is entitled to the exemptlon from the audit requirement contsined in section 477 of the
Companies Act 2006, for the year ended 31 March 2024. The members have not required the company to
obtain an audit of its financial statements for the year in question in accordance with section 476.
The Trustee5 acknowledge their responsibilities for ensuring that the charity keeps accounting records which
comply with section 386 of the Act and for preparing financial statements which give a true and fair view of
the state of affairs of the company as at the end of the flnancial year and of its incoming resources and
applicatlon of resources, includlng its Income and expenditure, for the financial year In accordance with the
requirements of sections 394 and 395 and which otherwlse comply with the requirement5 of the Companies
Act 2006 relating to financial statements, so far as appllcable to the companv.
These financial statements have been prepared in accordance with the provlslons applicable to companles
subject to the small companies regime.
The accounts were approved by the Trustees on ..
18.1. 0¥1io
C fklc
Mrs CJ Moir
Trustee
Mr P Whiteman
Trustee
Company Registration No. 08462149
12-

SWINNERTON TRUST LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR EAIDED 31 MARCH 2024
2024
2023
Notes
Cash flows from operatlng activltle5
Cash absorbed by operations
17
146,476}
{120,643)
Investing activitles
Investment income received
50,878
45,314
Net cash generated from investlng
activities
50,878
45,314
Net cash used In financing activities
Net Increase/(decrease) In cash and cash
equivalents
4,402
{75,329)
Cash and cash equivalents at beginning of year
544,622
619,951
Cash and cash equivalents at end of year
549,024
544,622
13-

SWINNERTON TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EIVDED 31 MARCH 2024
Accountlng pollcles
Charity information
Swinnerton Trust Limited is a private company limited by guarantee incorporated in England and Wales.
The registered office is l The Courtyard, Goldsmith Way, Eliot Park, Nuneaton, Warwickshire, CVIO 71U.
1.1 Accountlng convention
The accounts have been prepared in accordance with the Trust's Memorandum and Articles of
Association, the Companies Act 2006 and '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 1021" (effective I
January 2019) . The Trust is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Trust.
Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost conventlon, modified to include freehold
property and Investment property at valuation. The principal accounting policies adopted are set out
below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the
Trust 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.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees In furtherance of thelr
charitable obJectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes
and uses of the restritted funds are set out in the notes to the accounts.
1.4 Income
Income is recognised when the Trust is legally entitled to it after any performance conditions have been
met, the amount5 can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Trust has been
notified of the donation, unles5 performance conditions require deferral of the amount.
Grant income 15 recognised when the Trust is legally entitled to it after any performance condltions
have been met, the amounts can be measured reliably, and it is probable that income will be received.
Residential income and rental income is measured at the fair value of the consideration received or
receivable and represents amounts receivable for services provided.
14-

SWINNERTON TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcles
(Contlnued)
1.5 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 actlvlty. 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. Central staff costs are allocated on the basis of
time spent, and depreciation charges are allocated on the portion of the asset's use.
Expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all cost related to the category. Where costs cannot be directly attributed to particular
headings they have been allocated to activities on a basis consistent with the use of resources.
1.6 Tanglble fixed assets
Tangible fixed assets except freehold property, are initially measured at cost and subsequently
measured at cost, net of depreciation and any impairment losses.
Freehold property was gifted from The Swinnerton Trust and was initially measured at valuation on 22
November 2013, the property was revalued on 18 April 2022 and has been measured at this valuation
at the year-end. All property improvements have been included at cost.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values
over their useful lives on the following bases:
Land and buildings
Property improvements
Fixtures, fittings & equipment
2% straight line
4% straight Ilne
25% reducing balance
The galn or loss arising on the disposal of an asset is determined as the difference between the sale
proceeds and the carrying value of the asset, and Is recognlsed in the statement of financial activities,
1.7 Investment propertv
I nve5tment property, which is property held to earn rentals andlor for capital appreciation, is initially
recognised at cost, which includes the purchase cost and any directly attributable expenditure.
Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation
is recognised in profit or loss.
15-

SWINNERTON TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcles
(Contlnued)
1.8 Impairment of fjxed assets
At each reporting end date, the Trust reviews the carrying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impairment Ioss. If any such
indication exists, the recoverable amount of the asset is estimated in order to determine the extent of
the impairment loss lif any).
1.9 Cash and cash equlvalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or les5.
1.10 Flnanclal Instruments
The Trust has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Sectlon 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the
contractual provisions of the instrument.
F5nancial assets and liabllities are offset, with the net amounts presented in the financial statements,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to
settle on a net basis or to realise the asset and settle the liability simultaneously.
&gasicfinancial ussets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the
transaction 15 measured at the present value of the future receipt5 discounted at a market rate of
interest. Financial assets classified as receivable within one year are not amortised.
Baslcfinanclal liabilities
Basic financial liabilities, including creditor5 and residents deposits are initially recogni5ed at transaction
price unle55 the arrangement constitutes a financing transartion, where the debt instrument is
measured at the present value of the future payments discounted at a market rate of interest. Financial
liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditor5 are obligation5 to pay for goods or services that have been acquired in the ordinary
course of operations from suppliers. Amounts payable are classified as current liabilities if payment is
due within one year or less. If not, they are presented as non-current liabilities.
Deremgnltlon offlnancial liobllltles
Financial liabilities are derecognised when the Trust's contractual obligations expire or are discharged or
cancelled.
16-

SWINNERTON TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcles
(Contlnued)
1.11 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services
are received.
Termination benefits are recognised immediately as an expense when the Trust is demonstrably
committed to terminate the employment of an employee or to provide termination benefits.
1.12 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall
due.
Rentals pald under operatlng leases are charged to the Statement of Financlal Actlvities on a straight
line basis over the period of the lease.
1.13 Taxatlon
The charity is exempt from tax on its charitable activities.
Income from donations and legacies
Unrestrlcted Unrestrlcted
funds
funds
2024
2023
Donations and glfts
iii
320
Income from charitsble artlvltles
Unrestrlrted Unrestricted
funds
funds
2024
2023
Residential care
793,930
684,201
17

SWINNERTON TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Income from Investments
Unrestricted Unrestricted
funds
funds
2024
2023
Rental income
Interest receivable
41,245
9,633
42,175
3, 139
50,878
45,314
Expendlture on rdlslng funds
Unrestricted Unrestricted
funds
funds
2024
2023
Investment management
10,208
6,547
18-

SWINNERTON TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Expendlture on charltable actlvlt5es
Residential Residential
care costs
care costs
2023
2024
Dlrect costs
Staff costs
Depreciation and impairment
Residents facilities
Provisions and consumable stores
Rates and water
Light and heat
Repairs and maintenance
Insurance
Cleaning and laundry
Licences and fees
Office sundries
Training and expenses
Utility hire
Garden and Maintenance
Residents entertainment
Staff expenses
Telephone
551,219
13,868
10,709
36,650
2,391
52,345
72,440
16,207
6,719
3,807
10,456
1,647
15,780
15,625
1,680
717
3,542
531,411
13,554
11,605
37,386
2,188
25,684
90,469
15,933
9,931
4,361
13,613
1,772
13,941
21,338
1,205
621
3,803
815.802
798,815
Share of support and governance costs {see note 7)
Support
Governance
17,983
4,356
16,611
4,140
838,141
819.566
Analysis by fund
Unrestricted funds
838,141
819,566
19-

SWINNERTON TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Support costs allocated to actlvltles
2024
2023
Staff costs
Secretarial fees
Professional and HR costs
Governance costs
11,953
1,790
4,240
4,356
11,272
1,561
3,778
4,140
22,339
20,751
Analysed between:
Residential care costs
22,339
20,751
2024
2023
Governance Costs comprise:
Legal and professional
Independent examiners fee
540
3,600
4,356
4,356
4,140
Trustees
There were no Trustees expenses paid for the year ended 31 March 2024 nor for the year ended 31
March 2023.
Employees
The average monthly number of employees durlng the year was..
2024
Number
2023
Number
29
29
-20-

SWINNERTON TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Employees
(Contlnued)
Employment Costs
2024
2023
Wages and salaries
Social security costs
Other pension costs
530,475
39,720
8,342
515,651
39,446
7,942
578,537
563,039
There were no employees whose annual remuneration was more than £60,000.
Remuneratlon of key management personnel
The remuneration of key management personnel was as follows..
2024
2023
Aggregate compensation
46,591
44,794
10 Taxatlon
The charity is exempt from taxatlon on its activities because all its Income Is applied for charitable
purposes.
21

SWINNERTON TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH2024
11 Tanglble flxed assets
Land and
prO￿rty FExtures, fittln
buifdlnas Imprn¥ements
& èquipment
Totsl
Cost or valuation
At l April 2023
575,000
99.553
28,206
702,759
At 31 March 2024
575,000
99,553
28,206
702,759
Depreciation and Impalrment
At l April 2023
Depreciation charged in the year
8,625
8,625
21,608
3,982
23,164
1,261
53,397
13,868
At 31 March 2024
17,250
25,590
24,425
67,265
Carrying amount
At 31 March 2024
557,750
73,963
3,781
635,494
At 31 March 2023
566,375
77,945
5,042
649,362
The carrying value of land included in land and buildings is included at value of £143,750, which is
calculated as a 25% estimate of the total value. The valuation does not provide a specific value of the
land element however the directors believe that 25% is a ￿asOnable estimate.
Land and buildings with a carrying amount of £575.000 were revalued at 18th April 2022 by Broomfield
Surveyors Ltd, independent valuers not connected with the Trust on the basis of market value. The
valuation conforms to International Valuation Standards and was based on recent market transattions
on arm's length terms for similar properties. The Trustees are satisfied that the conditions pertaining to
the value were in place at the year-end and, as such, the valuation reflects the fair value at 31st March
2024.
At 31 March 2024, had the revalued asset5 been carried at historic cost less accumulated depreciation
and accumulated impairment losses, their carrying amount would have been approximately £422,500
(2023 - £430,000).
12 Investment property
2024
Fairvalue
At l April 2023 and 31 March 2024
525,000
-22-

SWINNERTON TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
12 Investment property
(Contlnued)
Investment property included in the financial statements is a six flat converted coach house and thirty
three garages located on the grounds of the f￿ehOld property; Manor Court Care Home, Manor Court
Road, Nuneaton, Warwickshire, CVII SHU.
The fair value of the investment property has been arrived at on the basis of a valuation carried out at
18th April 2022 by Broomfield Surveyors Ltd, who are not connected with the Trust. The valuation was
made on an open market value basis by reference to market evidence of transattion prices for similar
properties. The Trustees are satisfied that the conditions pertaining to the value were in place at the
year-end and, as such, the valuation reflects the fair value at 31st March 2024.
13 Debtors
2024
2023
Amounts falllng due within one year:
Trade debtors
Prepayments and accrued income
72,805
20,177
54,611
19,852
92,982
74,463
14 Creditors: amounts falllng due within one year
2024
2023
Trade creditors
Other creditors
Accruals and deferred income
15,808
22,725
20,898
15,472
12,884
18,592
59,431
46,948
Other creditors includes £2,33712023'. £1,504) of funds held on behalf of residents.
15 Retlrement benefit schemes
2024
2023
Defined contribution scheme5
Charge to profit or loss in respect of defined contribution schemes
8,342
7,942
The Trust operates a defined contribution pension scheme for all qualifying employees. The assets of
the scheme are held separately frotn those of the Trust in an independently administered fund.
-23-

SWINNERTON TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
16 Related party transactlons
Transactions with related parties
During the yearthe Trust entered into the following transactions with related parties:
Expendlture of £3,370 (2023: nil) was pald to Bedworth heating and plumbing supplies Ltd in the
period, a company with whlch Mr R Erskine is a related party. At year end, £18012023- nil) was
outstanding.
During the year, Mrs K Ward was appointed as a Trustee and since this time has received gross
remuneration of £13,533 for her role as care home manager.
17 Cash generated from operations
2024
2023
Deficit for the year
13,4301
196,2781
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
(50,8781
13,868
145,3141
13,554
Movements in working capital:
Ilncreasel in debtors
Increase in creditors
118,519)
12,483
17,894)
15,289
Cash absorbed by operations
{46,476)
1120,6431
18 Analysls of changes In net funds
The Trust had no material debt during the year.
-24-