Company registratlon number. 08582100 Charity registratvJn numbgr: 1154226 Pilton House Trust (A ¢wnpany limf(ed by guarantee) Annual Report and Financial Statement8 for the Year Ended 31 December 2023 WESTCOTTS CHAPTERED ACCOUMTANT¥ & BU5111665 ADVISERS
piiton House Trust Contents Referenc8 and A¢thninistratNO Details Trustees, Report 2to9 Ind8pend8nt Audor8, Report 10t013 statement of Financial Activities 14 Balanre Sheet 15 Statement of Cash Fbws 16 Notes to the Finanu81 Statements 17to31
Pllton Hous• Trust Reference and Administrative D•tails J Coates J Hunt l Hockin M NO1$ Charfty Reglstratlon Nwnber 1154226 C(InnY R•gistration Number 08582100 The charity is incorporated in Enghnd and Wales. Rogistsrod Offlce Pilton House Pitton Street Barnstsple Devon EX31 1 PQ Audltor We8tcots (SW) LLP 47 BoutFQrt Street Bamstap Devon EX31 1 SQ Page 1
Pilton House Trust Trustoes, Report The trustees who are also director8 of the charfty for the purpow of the Companies Act 2006, present their report with thè financial statements of the tharity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Rgcommendgd Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 20151. OBJECTIVES AND ACTIVITIES Objectives and alms The objectNes and aim of Piltrjn Hou39 Tru¥t is the rglief of povety, sickness and old age, in particular by the proviSn of surtablg housing accommodation and nursing homes and the prowsion of d#y and respite care facilities for eldety persons in Bamstaple the object of improving their conditions of lrfe. In setting their objectives and planning their activities, the trustees have given careful consideration to the Charity Commission's gener81 guidance Dn public benefit. A regular newsletter is preduced by the Hou8e Manager to update residents and relatives on actiwlies and issues at the House. The website Is updated to reflect changes in the Home and to promde relevant infomiation for familie5 and indmduals interested in our services. Fundraising activities aim lo involve the support of the local community. A Statement of Purpose has been drawn-up which rs available to resiJents, relatNes and third partkgs on request. The charity meets ts objectives by feedback from inspections undertaken by the Carg Quality Commission together with regular feedback from the residents and Ihgir r8latfV8slfrignds. ACHIEVEMENT AND PERFORMANCE Charltable activities Generally. the year 1 January 2023 to 31 December 2023 ha5 been somewhat less challenging th8n recent years wth an element of calm following the global pandemic. How8v6r, from the middle of the year the impact of signrficant inflation and a thallenging recruitrnenl land$pe with rising wages across the sector combined in a perfect stomi to increase costs across the Trust significantly. Through careful management and creative problem solving, the management team were able to navigate these headwinds admirabty, only to be faced with the announMent towards the end ol 2023 of fvrther rises in costs for 2024. not least of all a signrficont increase in the National LNing Wage for April 2024 again. COVltk19 safety m8asure5 Continued to transition to infection ntrol best practico once more and the Home was able to feel more like old times for re5iéents. their family and ftionds. As ah9yE, the staff worked tirelessly lo ensure the best and safest seNice was able to be d81Nefftd to everyone 8ssociated with the Home. We have also further grown the adoption of new methods of working, the effective use of technology to keep in touch with families and support healthcare provision, and additional support for staff anej residents as needed. Page 2
Pilton Houso Trust Trustees. Report The excellent care provisic*n proded by the Tru8t has ensured the Home maintained a heamhy waiting list of potential residents during 2023. This includ&s a significant number of day care visitors, who often transition to becoming a resident as lime pregresses. Sadly, a number of olhgr activities remained suspended for much of this year such as the Memory Café which Usual operates from the Home ak)ng with regular coffeg momings and some meetings of the Friends of Pillon House were affected. despite resuming al points in the year. With the ceasing of COVltk19 Ioc31 authority support, sourees of income remained under pressure with a number of the usual fundraising activit3 unable to b8 completed as they would usually be. Like in prevuS years. extraordinary work was required to ensure Pirton House was able lo meet its needs for the future. As the year continued, we saw a Biqnificant C08t of liwng increase to wages introduced by the Govemment which would requi further planning to ensure stsff were not disadvantsged and that Pilton House Trust Could continue to meet the need$ and expectations of our staff. N&v8rtheless, the Home remained fulty staffed and was able to operate safely and efFeetively for another year despite these challenges. and against the wider landscape of reported difficukie5 in many care Settings across the country. Sadty. the Government's promises of social care fvnding refomi have yel to lead to any tsngible beneffts to the Trust or its residents and their families. A considerable amount of training has b8èrt undertaken by staff during the year Ihrgugh 8 mix of virtual Sessions, è•Learning and in-house trainers. CQC noted nationalty that training in 2020 had been adversely impadgd by the impact of the pandemic. However, plOn House Trust maintained schedule wrth over 2000 $essiofts delivered for staff during 2023. Thè 2023 programme continues lo build upon this, including.. Infiuenza and Infaction control. sepsis awareness Effective and safe use of PPE Infection Control Medication RESTORE 2 Confidentk¥lty GDPR Falls Awareness Leadarghlp Sknlls for Team Leadgrs 10. Effective Communication, Belief and Values 11. Equality and Diversity 12. Safeguarding, PREVENT, consent and the power of attomey 13. Dementia and mental capacity 14. End of Lrfe Care 15. Oral health care including care pkns 16. Pressure area care an¢J management 17. Moving and handling including instructor training 18. Indu¢tions 19. Nulrilion and hydratwJn, special diets induding for Tesidonts with diabete5 20. Person Centred Care 21. COSHH, hand hygiene, food hygiene. bgionella 22. Non-phannacological approaches to Symptom managem8nt Pa3
Pilton House Trust Trustees. Report 23. Practical fire evacuation and fire safety 24. Fire Awareness Level 2 25. First aid lrnining induding first aid instructors 26. Challenging Behawour Level 2 and lev813 dplomas in Care fof the majOrY of staff that do not hokl this qUalifirAtn yet He8h and safety including Health and Safety Instructor course8 for more efficient and flexible delivery of courses within the Home 29. Six staff are eompleling NVQS in.. Health and Social Care 27. 28. The OOMPH activities programme, which was introduced in 2018, has continued unabated supporting many enjoyable actiVTties for our residents e8ch month. Staff continue to receive training in this programme regular reports on progress that show sustained improvements. Photographs of some of the wonderful actiVitS of resKlenls are displayed in thè Home for all to see, being shared wrth families and members of the Trust where permissions allow. Technology has continued lo b9 used effectivety to support outside contact with rolatNes and friends when visiting is not possible or practical. It is Iruty remarkable to visit the Home and see physical actNty sessions for residents who have limiled mobilty, lo listen to singing and INe music activities and to kjok at some of the treative endeavours of staff and TesKlents on display throughout the Home. The grounds have been further developed and now include a large fishpond, ducks, rabbits, and chickens which have been hatched from eggs. in addition to the more usual dogs and cats that can often b& found exploring the Home each day. In summer, the area in front of the veranda is awash with colour from the raised flower beds nd is a true oasis for the residents and staff of Pillon House, as well as providing a beautrful haven for wikllife. The kitchen garden receive¥ regular attention and is created in a way to be accessible as possibl8 for residents, allowing Ihem to tend to plants wflh ease. The Home and grounds are brightened by even more plants and flowers, and residents are able to enjoy gardening activities should they w¢8h. The Home h88 been able lo welcome back the work experience programme for l(Kal students this year, having previously been impacted by the pandemic. The endless work of our staff and volunteers to bgtter the experiences of our residents and slaff is truly apprecFated. The staff and managemenl team have continued to streamline processes as part of our GDPR programme. continuing the move to morg paperless systems, with the vast majorrty of day-lo-day operations now Supported by technology. A number of new 8yStems whth were introduced including the move to a drfferent cloud-based medication 8yStem have proven hvJhly effeclwe. The new, gbctronic HR system was introduced during 2023 and has proven both a great lime saver and much easier way for all staff to get things done. The feedback kn quality surveys and testimonBIs throughout the year ha$ been a real recognf(ion of our continued pursuit of excellence in the semce e deliver to residents, their families and friends. Page 4
Pilton House Trust Trustees. Report Fundraising activltles Income has improved gradualty. not only through a r8Vi$811 feg $yStom bul al due to fundraising ini(ialives by fn'ends and families of current and fomier resKlents, the care staff and the Home Manager. However, the refurbishment programme has meant the home has been unable to operate at full capacity at limes during the year, Thi8, Mbined with the dramatic increase in costs aeross the Trust, has created a funding shortfall which was not offset as in pievious years by the additional local authorty funding due to the pandemic. Funds such as those from inve$tments and donations have been used for projects wflhin th? Home to increase the p0sVe experience of residents. The Home continues to benefrt from sIgnrfnt redecoration and refurbishment of some parts of the Home and ontinuous improvements throughout the year. The CirGle of Friends group 8SSi8t in fund raising and other inrtiatives. including the promotion of the Home in the Pilton ares and to lo¢al businesses to encourage support and donations. Other actlvities Repairs were required to a number of exterior argas of the site, resutting in somg ungxpgcted expenditure. Due to the age and historical significan¢& of the building, this has required Listed Building Consent and has entifIed repairs from decadgs oadier which were not suitable. Woth to the front porch and entrance is ongoing, awaiting decisions from the Local Authority, btrt projects such a8 these create incredible strain on the charity's alfftady light budgets. Repairs are often also required to parts of the structure of the main building including wndow5 and dDors. Maintsining quality facilrties in an historiG Gradepll Listed buikling such as Pitton House oftgn comes at a greater expense and creates morg Complexity for the management team than would be found in a purpos&bu1 Home. BLrt living and working in Pillon House is one of the most unique and much-loved benefits of the seNices we provide, bringing joy to our residents and stsff alike. 11 18 a truly special place with a tremendous history. An employee assislance prograrnrne which was introduced in January 2019 and includes Face to Face Counselling and Cognitive Bghavioural Therapy {CBT), combined with a 2417 support seivice. nlinues lo be well used by 8tsff. This is offered free of charge to staff and their immediate families in order to provhde greater care and support to OUT valued team. Combined wilh the wider support offered in the area, and national programmes, staff have had 8 range of support structures that could be accessed if required. Without the support, dedication. Urage and detemiination of the staff at Pif(on House Trust, the Home would not be able to flourish in the way that it has. Anunal èxpedences. travelling farm visits and many anunal encounters for residents and staff at the Home, were all able to continue in 2023. Combined with our internal actwf(ies programme. abty supported by a nUrnr of our staff lall superslarsll. the Home continues to be a Ihriwng centre of iwty for our residents. Our person-centre(l approach with the personalisation of bedrooms and indoor areas to make the Home more reflectwe of the ta5ts5 and wishe8 of our residents has continued, including redecoration when needed. FINANCIAL REVIEW Prlnclpal funding source8 Funds are gengrated by the charty through residents, charges. obtaining grants, Rceiving donations, investment incom8 and undertaking other fundraising activ(Éies. Res8r¥es pollcy The trustees have indlcated that they wish to keep a minwnum of four months, reserve in hand at all times, preferab six months rfthis IS Possible. Total income for the year amounted lo £1,265,637 {2022.' £1.200.834}. £4.800 (2022.. £ 33,354) of whtch was speciflty directed for utilisation t¢)wards restricted expenditure. Page 5
piiton House Trust Trusteas. Report Personnel expendriure relating lo salaries and pension contribulions remains by far the single largest area of expenditure, amounting to £979,316 {2022= £ 900,051)- Totsl res8rves at the end of 2023 amounted to £1,247,809. This indudes fixed assets of £1,129,763 and net current assets of £118.046. Restricted reserves amounted to £9,906 FUTURE PLANS In 2023, the Home's management team ¢onllnued to support the development of individu81 department teams responsible for drfferent areas of the Home and business Ihrough training and greater autonomy, improving efficiency and allowing us to better adapt to th& budget constraints that were experienced during the year. This included some changes ot Fersonnel to support these changes. The number of indTrMduals and families u8ing our 8eMce8 continues to remain healthy and, with long waiting lis15. this shows no sign of changing during 2024. The management team hope to increase the level of day care pwsion the Home is able to provide to members of the k)cal community during the year ahead, although this already represents a healthy proportion of the Home. Giwng the ¥ignffic8nl ongoing costs of maintenance and repair, and further raises to the National Living Wage during 2024, it is ckar that a revised fee Structure wll be required in order to keep the Home 8U8tainably fundad for the immediate futur8. Plans are in place to revise the fee structure for 2024. The Trust m8intain8 a desire to increase the level of re8erv68 w6 have for the future. Despite an established programme of planned maintenance. unexpected costs continue to pr&sènl themselves each year and, in the face of the pandemic, the Homg must continue to be in a position to respond to these costs as the need arises. The $tsff are our key to suwe85, and we mu8t wntinue to ensure their training needs are met to achieve thg highost standard of care. Thi¥ indude¥ the level of care and support given to stsff both personally as well as professionalty. Onty happy and well supported stsff will provide our residents with the best possible care. and this 15 80mething we recognise and 18 at the heart of everything we do. Achieving the balance btheen the cost of care and financial viabilty is impgrative and only p)ssible at present because we ar& a non-profft making organisatn. FEEDBACK FROM RESIDENTS, VISITORS AND STAFF Included below are a selection of comments receNed during 2023". Famlty mgmbor5 'Thank you 811 $0 much for your kindn8SS 8nd support gwen to mum at what had b8come a dfficult and tmubling timè in her Irf8. Without your patience and undérstanding It would have bgen unimaginable. I know she gained comfort and companionship from you all. My family wish lo th8nk you all for the way you h8v& treated [residentJ. You never fai7 in your voGalion lo rneet all the needs of the sidents., '1 wanted to thank you 8nd yourteam 898in for the exception81 care Ih8t mum rec8ived whi7e she was underyour at Pilton House. In the last few days of her lrfe, whgngver I visitgd her, I was struck by how kind, professional and compassionate each of your colleagues were lo me. 7his made such a huge dnYeTrnce sUppOng us through this emotion818nd upsetting time., Page 6
Pilton House Trust Trustoes, Report Th8nk you for showing us 811 around on Fiiday, we all felt it Was such 8 Posit eXPWi8nce and we h8d such 8 lovely feel on enteiyng and whilst being shown around. As you know we had another care home visit later in the aftemoon and we all foft that your care 1me would be the ideal ftsidence... 'This comes with our gratstude to you all for the comp8ssionale and TrspoGtfvI way you caTrd for [sntI in his fin81 d8ys. You all mado a hugg differpnce- we couldny have managed without you., We wish to extond our heartfelt thanks to Pilton Housa for excellent Care [rdent] has r8¢ewed during his bme theTr.' Th8nks to ev8ryong at Pdton Ht)uso lorh81ping to mak& it a wondgrful 90th birthday formum., Thank you 80 much to the staff lor taknng mum out to the pub. Sha absolutely loved it., '1 cany tellyou how gfatefvl l am se8ing herso happy and w811 cared forbut alw in her81emgnt. Much gTrtilude.' '1 would like fo thankyou and all the st8ff forthe wond8rful carg and kindn88s you have shown., '18m vgry mindful of811 thè 8m8zing wortcyou h8V8 done over the years., I'm Éhnlled to de8th. I go to bed 8t nWt not worn9 anymo because I know how w1 looked efter mum is.. The inilial adjusfment time b moving Info care 8nd the &xcellent support and Unde18ndIng gwen by C8Ke staff has been the factorin this ch8np.' Thank you so much formaking mg feel ptsrt oflhe team. It m88ns the wortd.. Thank you forallyourencouragemenl and support. It ts gre8t to be 8 part ofPitton tHtsusèJ.' I have thon)ughly enjoyed the past $8Vgn years at Pilton House and l am grateful for the opportunities for prOfesSnal development and gmwth that I have been afforded during my time here. The expeiiences and skffls I've gained hève been invalu8ble to me, I beIve they have contribut8d to my per30n81 and c8reer development. I would like ft) take this opportunty to express my heartfèlt thanks to YOU and the entire te8m at Pilton House. It has been g pl88suTr working with such a tsbnted and dedicated gnwp of IndivUal8. I will genuinely rnS the camarddeiye and the f17endships ltre f0rn78d over tha ye8fJ.' '1 wanted to expre my hgardg11 grdtitude for your kindness and support. Your patiencg and undtandIng me8n 8 lot lo me, especialty constdering the brief time we have known e8ch other. This job holds immense importance as rf seNes as the bedrock OfstabllY forboth me and my f8mily, and I am g8nuinely grbteful for the opportunity You8 granted me., Page 7
piiton House Trust Trustges. Report STRUCTURE. GOVERNANCE AND mANAGEmEr Governlng document The charity 1$ controlled by its governing document, a deed of trust, and constitutes a Iwnrted company, limrted by guaranlge, as defined by the Companies Act 2006. Recrultmerrt and appolntmont of new trustses Trustees have historicaliy consisted of at least 5 and not more than 15 individuals. Akhough there are orty currentty 4 acting tnjstees. there has been a concerted efft>rt in rgcenl years to advgrtise and appeal for potential new trustees lo come forward, in addf(ion to making use of the nerkS of existing trustees. whi trust numbers h8ve been maintained, which is encouraging. no new trustees have been added during the year. Largely this reflects the general national trend which has seen volunteer number3 signfficanlly declining irb rent years. One third of the trustees must retire at each AGM, those bngesl in office retiring first and the choice betsveen any of equal service being made by drawing lot5. Except on rotation a trustee may be appointed at a general meeting bul only if there is a vaeancy and helshe is recommended by a trustea or a mernber has gNon the required noti¢e of prop05al with written nfiM1atlQn of willingne$$ to bg elected a trustee. Al trusl8e¥ must have a satisfactory and up lo date Disclosure and Barring SeM¢g check in order to rfjmain a Irustge. Oryantsational structure Mrs R Jenner Ash is the Home's registered manager and manages operational issues day to day. She is supported by an assistant manager, heads of department and a group of team leaders. The Irustee8 meet al regular monthty meetings, where 811 significant issues are discussed and agreed. The trustees guide the Home Manager on a regular basis which enables the trustees lo maintsin the overall management of the House. Related parti?s No trustee may take part in any di8CU88ion or deci8ion where they have a conflict of intere8t and where the outcome of that decision may be to th& bènefrt or detriment of themselves, their relatives. friends or employers. Thgir intgrgst, rF such circumstsnoes should arise, musl be made known to the board. Rlsk managemont The trustees have a duty to identtfy and review the risks to whkh the charity 18 exp¢)sed and lo ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Risk management policies have been producèd by the trustees. Th6 major risks to whh the charity is exposed, as identrfied by the trustees, relate to the management of the inveslmenls. the managemenl of the business on a daily basB with delegated responsibilities passed from trustse5 to the management and staff, financial risks and reputational risks. The trustees have remewed Ihese risks and contingency plans have been established to mitigate these risks. Small companies provision 51atem•nt This report has been prepared in accordance with the small companies regimg under tho Cornpanies Act 2006. Pago 8
Pilton House Trust Trustees. Report The annual report wa8 approved by the trustees ol the chanty on b8half by.. M Noiris Tnjstee Page 9
Pilton House Trust Independent Auditorfs Report to the Members of Pllton House Trust Oplnlon We have audtted the financial statements of Pikon House Trust {the 'charity'l for the year ended 31 December 2023, which compris8 the Statement of Financial Activities. Balance Sheet, Statement of Cash Flows, and Notes to the Financial Slatemenl8, including a summary of Sn-tartt accounting poliaes. The financial reporting framework that has been applied in their preparation is Unfled Kingdom Accounting Standards, comprising Charities SORP - FRS 102 The Financial Reporting Stsndard applicablg in the UK and Republic of Ireland, and appllcable law Iunlted Kingdom Generally Aptfjd Accounting Practtce). In our opinion the financial stslements- gNe a true and fair wew of the state of Ihg Gharty's affairs as at 31 December 2023 and of its incoming resources and appli¢atw)n of resources, including its income and eypendilure. for the year then ended.. have been properfy Prepared in accordance with United Kingdom Generally Accepted Accounting PraCte., and have been prepared in accordance with the requiremenlg of the Ce)mpanies Act 26. Basls for oplnlon We conducted our audit in accordance with Intemational Standards on Auditing (UK} {ISAs IUKI) and applicable law. Our responsibilrties under thos8 stsndards are further described in the auditor re$ponsibilities for the audit of the finanual statements 8ection of our report. We are independent of the charity in accordan with the ethical requirements that are relevant lo QLEr audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have fijffilled our olh&r olhical responsibilities in accordance wth Ihese rgquirement5. Vve believe that the audit evidence YJ have obtsined is SLrfficient and appropriate to provide a basis for our opinion. Conclusions rnlatlng to golng concem In audf(ing tho financkgl statements, we have concluded that the trustees use of the going concem basis of accounting in the preparation of the financlal statements 1$ appropriate. Based on Ihg work we have performed, wo have not identified any material uncertalntie8 relallng to events or conditions that, individualty or collectively. may east significant doubt on the charity's abilty to continue as a going concern for 8 period of at least }ve months from when the orvJinal financial statements were authorised for issue. Our respon¥ibilitigs and the responsibilities of the trustees with respect to going concern are described in the relevant seth'ons of this report. Othgr informatk)n The trustees are responsible for the other infomiatKn. The other information comprises the information included in the annual report, other than the financial statemènts and our auditorfs report thereon. Our opinion on the financial statements does not eover the other inforniation and. expt to the extent othe1$e explicitly stated in our report, we do not express any fomi of assurance conclusign thereon. Pagg 10
Pilton House Trust Independent Auditorfs Report to the Members of Pilton House Trust In connection with our audit of the financk41 statements, our responsibility is to read the other infomiation and. in doing so, consider whether the other infomation is materially inconsistent with the financial stslements or our knowledge obtained in the audrt or oth¢rwise appears lo be materially misstatgd. If we identfy such material incon$islencigs or apparent material mi5Stalements, are required to determine whether there is a material misstatement in the financial statements or material misstatement of the other infomialK)n. If, based on the work we have perfomied, we eonclude that there is a material misslalement of this other infOrmat)n, we are required to report that facL INe have nothing to report in this regard. Oplnlon on other matter prescrfbed by the Companies Act 2008 In our opinion, based on the work undertaken in the Course of the audf(.' the infonnats'on given in the Trustees, Report for the financial year for which the financial ststements are prepared 1$ eonsistent with the financial statements- and the Trustees. Rèport has been prepared in accordan¢o with applicable legal requirgments. Matters on whlch we are requlrod to report by excoptlon In the light of our knowledge and understsnding of the charity and its environment obtained in the course of the audr(, we have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the folbwing matter8 where the Companies Act 2006 require8 us to rewrt lo you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us,. or the financial statements are not in agreement wlth the accounting records and rgtums: or certain disclosures of trustees remuneration spefied by law are not made: or we have noi recewed all the infomialion and expbnations we require for our audlt. Responslbllltles of trustsos As explained more fully in thelset out on page l. the Irustees are re$pon5ibl8 for the preparation of the financi81 stateman18 and for being satisfied that thgy give a true and fair vigw, and for such intemal control as the tru5tg9$ delemiine is necessary to enable the preparation of financial statements that are free from material misslalement, whether due lo fraud or error. In preparing the financial 81atements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing. as applicable, matters related to going concern and using the going concem basis of accounting unless the trustee5 either intend to liquidate the charty or to ase oper*ions, or have no realistic atsmth.ve bul to do so. Audltor rgsponsibiliti8s for the audlt of the financial Statements Our objectives are to obtain reasonable as$ur?n¢g about whether the financial statements as a vthole are free from materia5 misstatement. whether du& to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonab assurance is a high level of assurance, but is not a guarantee that an audrt conducted in accordance wlh ISAS IUKI will avayS detect a material misslat6menl when r( exists. Misslaements can arise from fraud or error and are considered material rf, indNidually or in tha aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slatgm8nls. Pag8 11
Pilton House Trust Independent Auditorfs Report to the Members of Pilton House Trust Irregularities, including fraud, are inslances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. OLrtlined above, to detect material mi5Statements in respect of irregularit. including fraud. The extent lo which our procedures are capable of detecting irregularities, induding fraud is detailed t•low.' . We K1enltfied areas of laws and rggulation3 thal coukj reasonably be expected to have a material gffect on the financial slalemgnts from our general commercial and sector experience and through discussions with the twstees and other management. We communicated frdenlified 18ws and regulations throughout our team. and remain alert to any indlcalions of non-compliance Ihroughout the audit. . The Trust Is subject to laws and regulations that govem the preparation of thg financial statements, inGluding finanGial reporting legislation. and other charity legislation. The Trust is also subject lo othgr laws and regulations where the consequences of non-compliance could have a material impact on the amounts or diselosures %Mthin the financial statements, including eM0yrnent. anti-bribery, antMoneY laundering and certain aspects of charity legislation. ving to the inherent limrtations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financi818latementS, even though we have property planned and perfomied our audit in accordance with auditing standaids. In any audit. there remains higher risk of non4etection of irregularits, as these may invofve llusIon, forg8ry. intentional omissions, mlsrepresentations, or the override ol internal controls. We are not responsible for preventing nOnompli8n¢e and cannot be exp8cl8d tc delect non-compliance wth all laws and regulations. As part of an audrt in accordance with ISAS (UKI, we exercise professional judgement and maintain professional scepticism throughout the audil. We also.. Identify and ass9¥5 the risks of material mis$lat8ment of the financial Statements. whetheT due to fraud or grror, design and perfo audit procedures responsive to those risks, and obtain audit oyidgnco that is sufficient and appfopriale to provide a basis for our opinion. The risk of not d81ecling a materi81 misstatement resutting from fraud Is higher than for one resulting from error, as fraud may iftvoe collusion, forgery, intentional omissions, misrepresentations, or the override of intemal control. Obtsin an understanding of intemal control rekvant lo the audit in order to design audit procedures that are approprk2te In the circumstances, but not for the purpose ot expressing an opinitin on the effectiveness of the tharity's internal control. Evaluate the appropriateness of accounting policies used and the rea50nableness of accounting estimates and related dI105ureS made by the trustees. Conclude on the appropriateness of the trustees use of the going concern basis of accounting and, based on the audit evidence obtsined, whether a material uncertainty exists related lo events or conditions that may cast 5ignrficant doubt on the charity's ability lo contsnue as a going concern. If we conclude that a material uncertainty exists, we are required lo draw attention in our audrtorfs report to the related disclosures in the financial statements or, rf such disclosures are inadequate. to modify our opinion. Our conclusion8 are based on the audit evJenGe obtsined up to the dale of our auditorf8 r&port. However. future events or conditions may cause the charty lo cease to ntinue as a going concern. Evaluate the overall presentation. stnJcture and content of the financial statements, induding the disclosures, and whether the financial slalements repTesent the underlying transactions and events in a manner that achieves fair PTgSgntation. Page 12
Pifton House Trust Independent Auditorfs Report to tho Members of Pilton House Trust Obtain suffieient appropriate audit evidence regarding the financial information of the entitbes or business activilles within the charity to express an opinh)n on the firsancial statements. We are responsible for the direction, SuplS1On and perfomwnce of the charity audit. We remain solely responsible for our audit opinion. We communicate with those charged with governare regarding. among other matters. the planned scope and timing Of the audrt and significant audit finding¥, induding any 8ignificanl drlenCies in intemal control Ihal we identify during our audit. Use of our report This report is made solely to the tharitable companys trustees. as a tody, in Accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might s18te lo Ihe charity's trustees those matters we are required to State to thèm In an auditof s report and for no other purpose. To the fullest extent pemitted by Lgw, we do not accept or assume responsibility to anyone other than th& charitable company and (ts trustees as a body, for our audit work, for thi8 report, or for the opinions we have fornd. Catherine Williams FCA DChA ( For and on b8haW o* Westcotts {SWI LLP. Statutory Auditor 47 Boutport Street Bamstaple Devon EX31 1SQ or Statutory Auditor) Dale.'.l.i.. Page 13
Pilton House Trusl statement of Financial Activities for the Year Ended 31 December 2023 (Including Incomo and Expendlture Account and Ststement of Total Recognised Gains and Losses) Unregtrlctsd fvnds Re8trlcted funds Totsl 2023 Totsl 2022 Not• Incomo and Endowments from: Donab'ons and legacies Charftable activities Inv8stmgnt incc¥ne Other income 595 1,254,198 5,422 622 4.8IXI 5,395 1,254,198 5.422 622 36,257 1.159.379 4.379 819 Total income 1,260,837 4,800 1.265.637 1.200.834 Expendlturn on: Charitable artwthes {1.274.786) 5,523) 1,280.309 1,182,800) Total exp8ndilure Gainslllosses) on investrnenl asset8 11,274,786) 15,523) 11.280,3091 11.182,800) 12,575 12.575 24.302) Net expenditure Transfers beknn fund5 11,374) 597 17231 597 12,097) 16,268) Net movement in fund5 11,971) 11261 12,0971 16.268) Reconclllatlon of funds Total funds brought forward Total fiFnds carrigd fonvard 20 1.239.874 10.032 1,249.906 1,256.174 1,249,906 1,237.903 9,9C6 1,247,809 l of the charity's aCVe$ derive from continuing operations during the above two perKtsIs. The funds breakdown for 2022 1$ shoym in note 20. The n¢)tes on pages 17 to 31 foryn an integral part of these financial statements. Page 14
Pllton House Trust (Registration number: 08582100) Balanc8 Sheet as at 31 December 2023 2023 2022 Note Fixed assets Tangible assets Investments 14 15 935,767 193.996 935,502 178.256 1,129,763 1,113,758 Current ass9ts Debto Cash at bank and in hand 16 17 35.405 116,237 20,548 147.038 187,586 131,4381 151.642 Credltors: Amounts falllng duo TthIn on¢ year 18 (33,596 Net current assets 118.046 136,148 Not assets 1,247.809 1.249.906 Funds of tho charity: Rastricted Income lunds Restricted funds 9,906 10,032 Unrestrlcted income fvnds Unrestricted fvnds 1.237,903 1.239,874 Totsl funds 20 1,247.809 1,249,906 Th8 financial statement¥ on pages 14 to 31 were appmved by the trustees, and authorised for i88ue on Q.1-. fy7:.wi.. and signed on their behalf by.. M Norris Tru¥tee The notes on pages 17 to 31 fomi an integral part of these financial statements. Page 15
piiton House Trust Statement of Cash Flows for the Year Ended 31 Decernber 2023 2023 2022 Cash flo from opgratlng actlvlti Nel cash expenditure (2,0971 16,268) Adjustments to rAsh flow5 from non-cash rtems Depreciatoon Investment income Revaluation of inve$tmonts 18,119 15.422} 112,5951 14,767 14,379) 24.302 {1,995) 28.422 Worklng capltal adjustments Increase in debtor¥ Increaselldecreasel in fftditors Net Gash flow5 from opgrating activities C•sh fl¢)ws from Invegtlng actlvftles Interest receivable and similar income Purcha3e of tsngible fixed assets Purchase of invesknents Sale of investments Income from divhlends 16 18 {14,857) 2,158 {12,872) 12.5521 {14.694) 12,998 198 (2,9291 (4,7191 10,550 4,181 14 15 {18,384) {59.097) 55,952 4,754 Net ¢a$h flows frc*n inve8ting actNitie8 Net IdeGreaselTincrease in cash and cash equivalents Ca8h 8nd cash equNalents at 1 January C88h and ¢ash equrval¢nts al 31 De¢ember 116.1071 7.281 130,8011 147.038 20,279 126,759 147.038 116.237 All ofthe cash flows are derived from continuing opgrafjon$ during the above peric¥Js. The notes on pa9e8 17 to 31 fomi an integral part of these finandal statements. Page 16
Pilton House Trust Notes to the Financial Statements for the Year Ended 31 December 2023 1 Charlty status The charity limited by guante9, incorporated in England and Wakn. and consequently does not have share caprial. Each of the tW8tees is liable to contribute an amount not exceeding £10 t0rdS the asset5 of the charity in the event of liquidation. The address of its registered office is.. Pillon House Pillon Street 8amstaple Devon EX31 1PQ 2 A¢countlng pollcles Summary of signific•nt accounting policies and key accounting 8stimate$ The principal auntIng policies applied in Ihe preparation of these financial statements are set out below. These policies have been eonsistenlty applied to all the years presented. unle88 OtheiSe statement of compli•nGg The financial statements have been prepared in accordance th Accounting and Reporting by Chariiig$'. Ststement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Finaneial Reporting Standard applicable in the UK and Republie of Ireland IFRS 1021) (issued in October 20191- {Charrties SORP {FRS 1021}, the Finaneial Raportlng Stsndard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Basi$ of preparation Pilton House Trust meets the definition of a public beneffl enlty under FRS 102. Assets and liabilf(ies ar8 initially recognised at historical cost or transaction value unless otherwise state(1 in the relevant accounting policy notes. Going concem The truste9$ ¢on$ider that there are no material uncertainties about the charty's abilty to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charty. Income and endowments All income is recognised oncg the charity ha5 entrtlement to the income, it 15 probable that the income 11 be received and the amount of the income receivable can be measured reli8bty. Pagg 17
piiton House Trust Nots8 to the Financial Statsments for the Year Ended 31 December 2023 Donations andleg8eles Donations are recognised when the charty has been nolffied in writing of both Iho amount and settlement date. In the event that a donation is subject to conditions that require a level ol performance by the charity before the charity is entrId to the funds. the income is deferred and not recognised until either those conditiDn8 are fulty mel. or the fulfilment of those condilY)ns is wholly wrthin the control of the th8rrty and it Is probable that thege condrtions wlll be fijlfilled in the reporting period. Grants rncelvable Grants are recognised when the chartty has an entfllement to the fvnd8 and any conditions nked lo the grants have been met. Where perfomiance cot)dilion8 are attached to the grant and are yet to be met, the inKsmg 1$ r8Gognisod as a Ibabilty and inGluded on the balance sheet as deferred income lo bg released. Interest on fvnds held on deposit is included when receivable and the amount can be measured reliably by the Charit, this is nonnalty upon notffication of the interest paid or payable by the bank.Dividend8 are recognised once the dividend has been dedared and notffic81ion has been received of the didend due. Exp#nditur• All expendf(ure is recognised once there is a legal or constwctive obligat#)n to that expenditure, rt IS probable settlement is required and the amount can be measure(I reliably. All costs are althated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directty attribLrted to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Ch4rftsble acdvltl•s Charitable expenditure eomprises those c05t$ incurred by the charty in the delwery of r(s actsvities and SeCeS for its benefiuaries. It includes both costs that can be allocated directy to such activities and those costs of an indirect nature ne$sary to support them. Support costs Support costs include central fvnctions and have been allccaled to actNity cost categories on a basis con515tent with the use of resources, for example, all¢)Cating propety cosls by floor areas. or per ¢pprta, staff Gosts by the time spent and other costs by their usage. Governance costs These include the ¢o$ts attributsble to the chartys wrnpliance with constitutional and statutory requirements, including audlt, strategic managgment and trustees meetings and reimbursed expenses. Page 18
Pilton House Trust Notes to the Financlal Statements for the Year Ended 31 December 2023 Govemment grnnts Government grants are recognised based on the aecmal model and are measured at the fair value ol the asset receNe(l or receivable. Grants are classified a$ reL8ting either to rertue or to a88ets. Grants relating lo revenue are recognised in incom& over the permid in which the relatgd ¢o$ts are recognised. Grdnts relating to assets arè recognised over the eXpe9d useful life of the assot. Where part of a grant relating to an asset is deferred, rt is re¢ognised as deferred inwme. Taxation The charity is consldered to pass the tests set out in Paragraph 1 Schedule 6 of thè Finance Act 2010 and therefore it meets the definition of a charitab18 company for UK corporation tax purposes. Accordingly. the charity is potentially exempt from taxation in respect of income or ¢aprtal gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the exient that such income or gains are applied exclusNeW to charitable purpose& Tanglble fixed as69ts Tangible assets are initially recorded at cost, and subsequently stated at eost less any accumulated d&preGiation and impairment k)sses. Depreciation and amortisallon Depreciation is provided on tangible fixed assets so as lo write off the cost or valualion, $S any estim8t6d residual value, over their expected useful economic life as follows.. Asset class Freehold proFerty Fixtures and frttings Equipment Dgpreciatlon method and rate 1% straight line 15% reducing balance 20% stra(qht line Flxed asset Investmonts Fixed asset investments. other than programme relatgd investments, are included at mad(el value at the balance sheet date. Realised gains and losses on inve$tments are calculated as the ditference been sales proceeds and their market value at the stsrt of the year. or their subsequenl cost. and are charged or credi(ed to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during th& year and are credited or charged to the Statement of Financial ACtltIeS based on the market value at the year end. Cash #nd tash equlvalents Cash and cash equivalents mprise cash on hand and ¢all deposit8, and other short-temi hKJhly liquid investments that are readity converttjle to a known amount of cash and are subject lo an insignificant risk of change in value. Fund strudurn Unrestricted income fund¥ are general funds that are available for use at the trustees discretion in furtherance of the objectrves of the charity. Page19
piiton House Trust Notes to the Financial Statements for the Year Ended 31 December 2023 Restricted income funds are those donated for use in a particular area or for speGffic purposes, Ihg use of which is restricted to that area or purpose. Ponsions and other post retlromont obligations The charity operates a defined contribution penSn scheme which i8 a pension plan under which ffixed conlrrbulions are paid into a pension fund and the charty has no legal or constructive oblvJation to pay further contributions even if the fund doe5 not hold Sufficient assets to pay all employees the beneffts relating to empkiyee seCe In the current and prior pgriods. Contributions to defined conlribution plans ale recognised in the Ststement of Financial Artwitie$ when Ihgy are due. If contribution payThents exceed the contrlbutlon due for servi¢e, the excess is recognised as a prepayTnent. Flnanclal Instruments Classlflcarfon Financial assets and financial liabilities are recogni5gd when the charty becomes a party to the contractual provislons of the instrument. Financial liabilrties and equty instruments are classified accordlng to the substance of the eonlractual arrangements entered into. An equity in8lium8nt is any contract that ewdences a residual interest in the assets of the charity after deducting all of ts liabilities. Recognltlon and me8sur•m•nt Basic financial in8truments are intholty reGognised al the amount receivable or payable including any related transactKJn cost$. unless tho arrangement constitutes a financing trdnsaclion, where it 1$ recognised 8t the present value of the future payments discounted 8t a market rate of interest for a similar debt instrument. Current assets and current liabllrties are subsequenY measured at the cash or other considerat¢on expeGtgd to be paid or received and not discounted. Debt Instrnments Debt instruments which meet the following condiiions are subsequentty measured at amortised cost using the effective intere81 method. Investments Listed inve51ments are measured at fair value with changes In falr value being recognised in ineome or expenditure P$ 20
Pilton Hou$• Trust Notes to the Financial Statements for the Year Endod 31 December 2023 3 InGorno from donatlons and legaci8s Unrestrlctsd funds G?nfjr•l Rostrlctod funds Totsl 2023 Donations and legacies; Donation8 Grants.. Government grants 595 300 895 4,500 4.500 5,395 595 4,800 Unrestrfcted fund8 G•nernl Restrlcted funds T¢)tal 2022 Donations and18gacie8', Donations 2.036 2,650 4,686 Govemment grants Grants 22,500 8,204 33,354 23,367 8,204 2.903 36,257 Page 21
Pilton House Trust Notes to the Financial Statements for the Year Ended 31 December 2023 4 Income from charltable actlvltl•s Unrostrlcted funds General Total 2023 Residents fee income 1.254,198 1.254,198 Unr•strictqd funds Genernl Tolal 2022 Residents fee incoff 1.159.379 1,159.379 5 Inveslment incom• Unrostrlcted funds Generdl Totsl 2023 Investment dividends Bank interest receivable 4.754 668 4,754 668 5.422 5,422 UnrestriGtgd fvnds General Total 2022 Inveslm8nl dividgnds Bank inlere8t receivable 4,181 198 4,181 198 4,379 4.379 Page 22
Pilton House Trust Notes to the Flnancial Statements for the Year Ended 31 D•camber 2023 6 Olh•r Incomg Unr8strfctgd funds Gèneral Totsl 2023 paIng f80$ Sundry income 494 128 128 622 622 Unrnstrictsd funds Gener•1 Total 2022 Parking fees Sundry income 800 19 800 19 819 819 Exp•nditurn on charltable actlvltlos Unrestrlcled funds G8noral Reslrlcted funds Totsl 2023 Note Direct 8eNice provision Allocated support co$1$ Govemance costs 1,252,453 16.380 5.953 1,274.786 5.523 1.257,976 16,380 5,953 1,280,309 5,523 Unrestrlcted funds Ggneral Restrictsd fund8 Total 2022 Direct sgNce pro$1)n kicated support Costs (3)veman¢e costs 1.135.529 16,226 4,723 26,322 1,161,851 16,226 4,723 1,156,478 26,322 1.182.800 Page 23
Pilton House Trust Notes to the Financial Statements for the Year Ended 31 December 2023 Analys15 of support costs Support C081s allocated to charltable actlvtti•s Charltable activities Total 2023 Total 2022 Bookkeeping costs Investment manogemenl co¥t8 14.400 1.980 14,400 1,980 14.400 1.826 16,380 16.380 16,226 Gov•manca costs Unrestrfcted funds General Total 2023 Audft of the financkql 818tements 5.953 5.9S3 5,953 5.953 Unrftstrictsd funds Ggnoral Totsl 2022 Audit of the fin8nck81 statements 4.723 4,723 4.723 4,723 9 Net Incomlngloutgolng re8OUVC08 Net loulgoingifincoming resources forlhe year indude.. 2023 2022 Audit fee8 Depreckgtion of ffixed a88ets 5,953 18,119 4,723 14,767 fjo Trustee5 remuneratlon and expen808 No trustees, rr any persons connectsd with them, have receNed any remuneration from the charity during the year. No trustees have rgceiv9d any reimburBed expen8e8 or any other benefits from the charity during the year. Page 24
Pilton House Trust Notss to the Financlal Ststsments for tho Year Ended 31 December 2023 11 stsff costs The aggregate payroll costs We as follow8.. 2023 2022 Stsff costs during the yoar Wage$ and salarie8 Social security costs Pension costs 900,388 61.464 17.464 979,316 825,500 58,889 15.662 900.051 The monthty average number of persons (induding nIOr management Ilgadership taaml employed by the charity during the year was as follows.. 2023 No 48 2022 No Charitable aGtivities No employee re¢eived emoluments of more than £80,000 during tha r. 12 Auditors. remunerntlon 2023 2022 Audit of the financial statements 5,953 4.723 P40 25
Pilton Hous• Trust Notss to the Flnanclal Statsments for the Year Ended 31 Decomber 2023 13 Taxation The charity is a registered charity and is therefore &xempt from taxation. 14 Tanglblo fixod assots Land and Flxtures and bu51dlngs ffttlngs Equlpm•nt Totsl At 1 January 2023 Additions 950,000 39.411 37.951 1,027,3e2 18,384 18,384 At 31 December 2023 950,000 39,411 56.335 1,045.746 Depreciation At l January 2023 Charg6 for the year Al 31 December 2023 37.434 9.126 26,029 2.007 28.397 6,986 91.860 18.119 46,560 28,036 35.383 109.979 Net book value At 31 December 2023 903,440 11,375 20,952 935,767 Ai 31 December 2022 912,586 13.382 9,554 935.502 Pagg 26
Pilton House Trust Notes to the Financlal Statsments for th• Year Ended 31 December 2023 15 Fixed asset invostsnents Llsted inv•stments Total Cost or Valuation At 1 January 2023 Revalual#)n AdditKJns Disposal$ At 31 December 2023 178,256 12,595 59,097 155,9521 178,256 12.595 59.097 {55,9521 193,996 193,996 Net book valu• At 31 Décember 2023 193,996 193.996 At 31 December 2022 178,256 178.256 The historical cost of the investments 8$ at 31 December 2023 is £170,47812022: £141.972). 16 D&bto 2023 2022 Trade debtors PrePanents 26,941 8,464 35,405 16,369 4,179 20.548 17 Cash and GJ$h oquivalents 2023 2022 Cash at bank 116,237 147,038 18 Credltors: amounts hlling due wjthln one yeaT 2023 2022 Trade creditors Other taxation and social security Other creditors Accruals 12,387 12,157 3,112 5.940 12,246 11,017 3.160 5,015 33.596 31,438 Page 27
Pilton House Trust Notes to tho Financial Statements for the Year Ended 31 December 2023 19 Obllgations und•r1gases and hlTe purchase contrncts Opornting l•a8e commitments Total future minimum lease payThents undgr non-cancellable opgrating leeses are as follows.. 2023 2022 other Within one year Befvn ong and five years 26.265 40.106 86.371 22,890 57.015 79,905 20 Funds Balance Other BalanGe rfjcognlsgd at31 galnsl Docembgr Ilossesl 2023 January It)mIng Rgsources 2023 rg$ources expended Transferd Unrestricted funds Genernl General Funds Dementia Care Investment divendS Propety funds Amenities 311,168 1,255,488 11.261.095) 2.315 (3,289) 13,555 912,588 272 11,980) 974 12.575 316.154 4,754 18,309 903,440 (9,1261 1.276 1,239,874 1,260,837 11,274,786 409 597 12,575 1,237,903 Re8tricted funds Dementia Care Govemment Grants Propety Maintenance Staff 4.325 1.707 4,000 (1,0781 {1,7071 (2,1411 597 3.247 4.800 6.659 597 10.032 4.800 15,5231 597 9,906 Total funds 1.249.906 1,265 637 11.280.309 12.575 1.247,809 Pagg 28
Pllton House Trust Notes to the Flnancial Statsments for the Year Ended 31 December 2023 Balance 8alance Other at31 at1 January Incoming ResourGes recognisèd Docomber 2022 rosources expended Transfes•insl{10s8081 2022 Unrestrlcted fund8 Ggnoral General Funds Dementia Cafe Investment dmdends Property funds Ameniti88 319,586 1,161,296 11,145.414) 2.397 (821 9,407 921,784 (24.3021 311,168 2.315 13,555 912,566 272 4,148 19,2181 1.764 1.253,174 1,167.480 11.156,478 24,302 1,239,B74 Restrlcted funds Dementia Care Govemmenl Grants Property Maintenance Staff 5,503 24.500 2.751 (818) {22,7931 11,751} {360) 4,325 1,707 4,000 3,000 360 10,032 3,000 33,354 26.322 1,249,906 Tol81 fund8 1,256,174 1,200.834 (1.182,800 24,302 Page 29
piiton House Tt Notes to tho Financial Statements for the Year Ended 31 December 2023 The speryfK purposes for which the funds are lo be appllgd Wre as follow8.' Dgslgnated funds The Investment dividend fund 18 usod to provide extra itsm8 to tmprove the wellbeing of rasldents. The Property fvnd represents the net book value ofthe freohold propgty owned by the charity. Restricted funds mment Granjs.. This income is lo support the charty yth infection control and the additnal costs of PPE incurred as a result of Covid-19. There also additional support in respect of retsining and recruiting staff post P8ndemic. Dementia Care". This funding was received to 8Focfficalty support residents in respect of their care for Dementia. The transfer from the Dementia Care fvnd to the staff fund was for the specific training and 5UPPOrt gwen to staff in respect of Dementia. Maint This is money granted to tha Trust for the specfft us6 for maintsining the prwty. This grant w85 to support staft with their training requirements 21 knalysls of net ass•ts betrft funds Unrestrfcted funds G&neral Total funds at31 D•cemb8r 2023 funds Tangible fixed assets Fixed asset investments Current assets Current liablllttes Total net assels 935,767 193,996 141.736 935,767 193.996 157,642 133,596 1,247,809 1.237 903 9.906 Page 30
Pilton House Trust Notes to the Financlal Statements for tho Year Ended 31 December 2023 Total funds at31 D•c•mbgr 2022 Unrostrictod fvnds General Restrlcted funds Tangible fixed assets Fixed asset investments Current assets Current liabilities 935,502 178,256 157.554 {31,438) 1,239,874 935,502 178,256 167,586 31,438 10,032 Total net 8$$gts 10,032 1.249.906 22 Related party traftsactlons During the year ended 31 December 2023. the Trust was invoiced £1,917 {2022'. £2,679) by Lineal Soare Solution¥ Ltd. Matthew Norris. a trustee in Pilton House Trust is also a director in Lineal Sothv£re SolLrtions Ltd. As at the year end £328 wa¥ owed by Pilton House Trust to Lineal Sofvare Solutions Ltd. Page 31