Charity registration number 1152941
Company registration number 08563160 (England and Wales)
MY CARE MY HOME FREE INFORMATION & ADVICE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
MY CARE MY HOME FREE INFORMATION & ADVICE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr J P Nixey Mr N D Evans Charity number 1152941 Company number 08563160 Registered office Alder Suite, 1st Floor C Mamhilad Park Estate North Mamhilad Pontypool Wales NP4 0HZ Independent examiner Azets Ty Derw Lime Tree Court Cardiff Gate Business Park Cardiff Wales CF23 8AB
MY CARE MY HOME FREE INFORMATION & ADVICE
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 |
| Independent examiner's report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 10 |
MY CARE MY HOME FREE INFORMATION & ADVICE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], 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 102)" (effective 1 January 2019).
Objectives and activities
The charity's objects are the advancement of education of the public, the relief of need amongst people requiring domiciliary or residential care, and the promotion of good health and care for older and disabled people by the provision of advice, support and information through free to access websites and publications.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
During the 2021/22 financial year the charity received funding to enhance its online presence and to widen reach both locally and in the wider geographic. In the 2022/23 financial year the charity commenced carrying out it's charitable objects that have continued in 2023/24.
Financial review
The charity received £185,013 (2022/23 - £121,584) in grants and donations and £27,825 (2022/23 - £69,948) for charitable services provided.
The charity's reserves at the year end were £851 (2022/23 - (£32,501)).
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The charity is a company limited by guarantee with no share capital. None of the trustees have any beneficial interest in the company.
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:
Mr J P Nixey Mr N D Evans
The trustees' report was approved by the Board of Trustees.
..............................
Mr N D Evans Trustee
Date: .............................................
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MY CARE MY HOME FREE INFORMATION & ADVICE
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF MY CARE MY HOME FREE INFORMATION & ADVICE
I report to the trustees on my examination of the financial statements of My Care My Home Free Information & Advice (the charity) for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements 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 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
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:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial 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 view which is not a matter considered as part of an independent examination; or
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4 the financial statements 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 financial statements to be reached.
Joanne Taylor FCCA DChA Independent Examiner
Ty Derw Lime Tree Court Cardiff Gate Business Park Cardiff Wales CF23 8AB
Dated: .........................
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MY CARE MY HOME FREE INFORMATION & ADVICE
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income from: Donations and legacies 3 152,536 - Charitable activities 4 51,969 8,333 Total income 204,505 8,333 Expenditure on: Charitable activities 5 171,153 8,333 Net income/(expenditure) for the year/ Net movement in funds 33,352 - Fund balances at 1 April 2023 (32,501) - Fund balances at 31 March 2024 851 - |
Total Unrestricted funds 2024 2023 £ £ 152,536 79,817 60,302 111,715 212,838 191,532 179,486 232,207 33,352 (40,675) (32,501) 8,174 851 (32,501) |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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MY CARE MY HOME FREE INFORMATION & ADVICE
BALANCE SHEET
AS AT 31 MARCH 2024
| Notes Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets/(liabilities) Income funds Unrestricted funds |
2024 £ - 851 851 - |
2023 £ £ £ 11,876 - 11,876 (44,377) 851 (32,501) 851 (32,501) 851 (32,501) |
|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .........................
.............................. Mr N D Evans Trustee
Company registration number 08563160
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MY CARE MY HOME FREE INFORMATION & ADVICE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
Charity information
My Care My Home Free Information & Advice is a private company limited by guarantee incorporated in England and Wales. The registered office is Alder Suite, 1st Floor, C Mamhilad Park Estate, North Mamhilad, Pontypool, NP4 0HZ, Wales.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
The charity has reserves of £851 at the balance sheet date. 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.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts 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 charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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MY CARE MY HOME FREE INFORMATION & ADVICE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
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 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. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Cash and cash equivalents
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 less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities 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.
Basic financial assets
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 is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, 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 creditors are obligations 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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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MY CARE MY HOME FREE INFORMATION & ADVICE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
1.8 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 charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| **Unrestricted ** | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donated funds | 152,536 | 79,817 |
Donated funds
Donated funds relate primarily to funds received from the Chairman of the Charity.
4 Charitable activities
| Income generation and fees Grant income Restricted funds |
2024 £ 27,825 32,477 60,302 8,333 |
2023 £ 69,948 41,767 |
|---|---|---|
| 111,715 | ||
| - |
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MY CARE MY HOME FREE INFORMATION & ADVICE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
5 Charitable activities
| Staff costs Bank charges Freelance costs IT costs Marketing Office costs Subscriptions Expenses Premises costs Donated funds Subsidiary loan balance expensed Share of governance costs (see note 6) Restricted funds |
2024 £ 60,665 24 - 2,254 27,523 5,571 1,368 4,169 - 87,000 (10,108) 178,466 1,020 179,486 8,333 |
2023 £ 110,731 33 2,517 5,880 93,068 11,785 3,235 3,608 330 - - |
|---|---|---|
| 231,187 1,020 |
||
| 232,207 | ||
| - |
Funds of £87,000 have been donated to My Lifetime Care to cover ongoing operating costs.
6 Support costs
| Support costs | |||
|---|---|---|---|
| Independent Examination Analysed between Charitable activities |
Support costs Governance costs £ £ - 1,020 - 1,020 - 1,020 |
2024 £ 1,020 1,020 1,020 |
2023 £ 1,020 |
| 1,020 | |||
| 1,020 |
Governance costs includes payments to the independent examiners of £1,020 (2023- £1,020) for independent examination fees.
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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MY CARE MY HOME FREE INFORMATION & ADVICE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
8 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
9 Debtors
| Amounts falling due within one year: Trade debtors Prepayments and accrued income |
2024 £ - - - |
2023 £ 10,932 944 |
|---|---|---|
| 11,876 |
10 Creditors: amounts falling due within one year
| Bank overdrafts Trade creditors Other creditors Accruals and deferred income |
2024 £ - - - - - |
2023 £ 15,348 26 20,670 8,333 |
|---|---|---|
| 44,377 |
11 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement | Movement in funds | Movement in funds | ||||
|---|---|---|---|---|---|---|
| in funds | ||||||
| Incoming | Balance at | Incoming | Resources | Balance at | ||
| resources | 1 April 2023 | resources | expended | 31 | March 2024 | |
| £ | £ | £ | £ | £ | ||
| Shaw Foundation | - | - | 8,333 | (8,333) | - |
Shaw Foundation - grant received to assist with wage costs of the charity.
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MY CARE MY HOME FREE INFORMATION & ADVICE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
12 Analysis of net assets between funds
| Unrestricted funds Restricted funds 2024 2024 £ £ Fund balances at 31 March 2024 are represented by: Current assets/(liabilities) 851 - 851 - |
Total Unrestricted funds 2024 2023 £ £ 851 (32,501) 851 (32,501) |
|---|---|
13 Related party transactions
During the year the Chairman donated £140,000 (2023 - £nil) to the Charity.
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