2023-12-31-accounts - St John's Home

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Financial Statements St John's Home

For the year ended 31 December 2023

Registered Charity No. 1155324

St John's Home Financial statements for the year ended 31 December 2023

Reference and administrative information

Charity registration number:	1155324
Address:	Wellingborough Road
	Weston Favell
	NORTHAMPTON
	NN3 3JF
Trustees:	Mr B Chapman (resigned 14	September 2023)
	Mr J C Fazackerley
	Mr D Harding
	Mrs L Kilshaw (appointed 11 December 2023)
	Mr P H Mair
	Mrs E Parkinson (appointed	17 April 2023, resigned 12
	February 2024)
	Mr R Pestell (resigned 14 September 2023)
	Mrs A Sawford (appointed 14 August 2023)
	Dr A Sutton
Senior Management Team:	Matron:	Mrs J Elliott
	Operations Manager:	Mrs T Stacey
	Deputy Manager:	Miss Cassie Zydonik1
	Finance Manager	Mr A Pearson2
		Ms J Paramsothy3
	1From 1 February 2023
	2Until 31 March 2024
	3From 1 April 2024
Bankers:	Lloyds Bank plc
	George Row
	NORTHAMPTON
	NN1 1DJ
Investment managers:	Brewin Dolphin Limited
	12 Smithfield Street
	LONDON
	EC1A 9BD

St John's Home Financial statements for the year ended 31 December 2023

Reference and administrative information

Auditor:

Hawsons Chartered Accountants Statutory Auditor Jubilee House 32 Duncan Close Moulton Park Northampton NN3 6WL

St John's Home Financial statements for the year ended 31 December 2023

Index to the financial statements

	Page
Report of the Trustees	4 - 7
Independent auditor’s report	8 - 11
Principal accounting policies	12 - 14
Statement of financial activities	15 - 16
Balance sheet	17
Cash flow statement	18
Notes to the financial statements	19 - 26

St John's Home Financial statements for the year ended 31 December 2023

Report of the Trustees

The Trustees present their report together with financial statements for the year ended 31 December 2023.

Structure, governance and management

Structure

St John's Home is a Charitable Incorporated Organisation (CIO) which was incorporated on 14 January 2014 in the UK to continue the charitable activities formerly undertaken by the registered charity also known as St John’s Home which was established in 1138 and subsequently granted a Royal Charter. The principal activity is the running of a residential care home. The former charity has no assets or liabilities and remains dormant.

Recruitment and appointment of Trustees

The trustees who served during the year are listed on page 1. The governing document allows for a minimum of 5 and a maximum of 15 Trustees. Trustees are recruited through various channels.

Training of Trustees

The Charity has produced an induction pack for new Trustees and arranges appropriate in-house or external training courses to meet other Trustees' needs.

Organisational structure

The Trustees meet regularly and are responsible for the strategic direction and policy of the Home. They specifically consider applications from prospective residents and matters concerning the wellbeing of residents and staff. The Matron and the Operations Manager also attend these meetings.

Responsibility for the day to day running of the Home rests with the Matron, the Operations Manager, the Deputy Manager and the Finance Manager. The Trustees are responsible for setting their pay, which is reviewed annually.

Objectives and activities

The objects of the Charity are:

i the provision of housing accommodation for beneficiaries

ii such charitable purposes for the benefit of the residents of the Home as the Trustees decide, and iii the provision of extra-care accommodation and facilities for beneficiaries, with a preference for residents in the Home.

The principal activity of the Charity is running a residential care home in Northampton. The Home is in a building of character set in its own attractive grounds and provides a happy and caring environment for elderly people who are no longer able to live independently in their own homes. Because the land and buildings are owned outright and, as the Home is a not-for-profit organisation, the Trustees are able to keep fees to a relatively modest level whilst maintaining a very high standard of care. If residents are no longer able to pay their fees from their own resources, the Trustees aim to be able to maintain a place for them financed by such funding as is available from both public and the Home's own resources.

St John's Home Financial statements for the year ended 31 December 2023

Report of the Trustees (continued)

Public benefit

The Trustees are cognisant of their obligation to provide public benefit. The Trustees regard all the residents as being worthy of charitable support by virtue of their age and varying degrees of infirmity. The Trustees therefore aim to keep fees for all residents as low as possible so that admission to the Home is not dependent on ability to pay. Fees are further subsidised by accepting residents who are funded by local authorities and by reverting to local authority funding for residents who find themselves no longer able to pay. In these circumstances top up fees are sometimes available from residents' families, but this is not always the case.

From initial admission residents may have many future years living in the Home and the Trustees are mindful of their aim where possible to provide a home for life regardless of future financial circumstances. Judgements are therefore made from time to time as to the level and nature of fee subsidies which can be offered. During the year fee subsidies of £160,402 (2022 - £137,598) were given. The average number of funded residents during the year was 11 (2022 - 9).

The Trustees confirm that they have referred to the guidance in the Charity Commission's guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities.

Achievements and performance

The main aim is the on-going provision of quality care for our residents.

2023 saw continued recovery from the pandemic with improved occupancy levels.

Financial review

There was a deficit of net income of £46,647 (2022: deficit £349,059) for the year. This includes gains on investments of £53,773 (2022: losses of £174,193). In general, the Trustees plan to generate a reasonable level of surplus to give the Charity the ability to invest further in the facilities of the home as the increasing age profile of residents requires. However, 2023 continued to be challenging financially because of delays in return of confidence in the residential care sector after the pandemic, and an increasing cost base.

The increasing needs of the residents require increasing levels of staff to deal with their needs. In addition, the impact of the increases in the new living wage continues to increase pressure on costs.

Further increases in fees are also inevitable but these are kept to a minimum and we continue to offer subsidies in line with our public benefit responsibilities.

St John's Home Financial statements for the year ended 31 December 2023

Report of the Trustees (continued)

Principal funding sources

The principal sources of funding have continued to be fees charged to residents and investment income.

Risk management

The Trustees have conducted a review of the major risks to which the Home is exposed. A risk register has been established and is updated at least annually. Major risks identified are:

Failure to comply with CQC high level standards of care
The inability to recruit and retain appropriate levels of staff
Health and safety requirements
Premises and infrastructure no longer fit for purpose

Where appropriate, systems or procedures have been established to mitigate the risks the Charity faces. Procedures are in place to ensure compliance with CQC standards and health and safety requirements for residents, staff and visitors. These procedures are regularly subjected to both internal and external review by way of external consultants, a Health & Safety Committee and regular visits by Trustees. Infrastructure and premises requirements are reviewed annually. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and regular review of income and expenditure by Trustees.

The main risk to the Charity from financial instruments lies in the combination of uncertain investment markets and volatility in yield. Liquidity risk is anticipated to be low as the Charity’s investments are mainly traded in markets with good liquidity and high trading volumes. The Charity manages these investment risks by retaining expert advisors and operating an investment policy that provides for a high degree of diversification of holdings within investment asset classes that are quoted on recognised stock exchanges. The Charity does not make use of derivatives and similar complex financial instruments.

Investment policy, objectives and performance

The Charity seeks to produce the best financial return within an acceptable level of risk. The investment objective is to generate a return in excess of inflation over the long term whilst generating an income to support the ongoing activities of the Charity. The Trustees rely on the investment managers in selecting the individual investments held but the results are monitored by the investment committee. The total return on endowment investments was 8.8% (2022: -14.9%) compared to a benchmark of 11.1% (2022: -- 6.3%). For current investments, the return was 9.7% (2022: -12.3%) compared with a benchmark of 9.8% (2022: -7.0%).

Reserves policy

The Trustees consider that there are two principal areas of financial risk. The first of these is the possibility of a loss of revenue or additional costs due a particularly severe epidemic or pandemic. The second is the possibility of major expenditure being incurred on unforeseen repairs to buildings or equipment.

The Trustees believe that it would be appropriate to hold reserves of approximately £350,000 for these eventualities. The free reserves held at the end of the year amounted to £358,304 (2022: £391,797). Reserves are monitored at Trustees’ meeting on a regular basis.

St John's Home Financial statements for the year ended 31 December 2023

Report of the Trustees (continued)

Plans for future periods

The first half of 2024 has seen a continued improvement to occupancy levels and increasing demand for residential care. The Home continues to strive to give the best experience possible for our residents and to be a positive place to work for our staff.

Statement of Trustees’ responsibilities

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.

The Charities Act 2022 and regulations made thereunder requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of the resources, including the income and expenditure, of the Charity for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently
observe the methods and principles set out in the 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 ('Charities SORP (FRS 102)')
make judgments and accounting estimates that are reasonable and prudent
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2022 and regulations made thereunder and the provisions of the trust deed. The Trustees are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ON BEHALF OF THE TRUSTEES

J C Fazackerley Trustee 8 July 2024

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Report of the Independent Auditors Opinion to the Trustees of St John's Home

We have audited the financial statements of St John’s Home (the charity) for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2016) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2022.

In our opinion the financial statements:

give a true and fair view of the state of the charity’s affairs as at 31 December 2023, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act 2022.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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Report of the Independent Auditors Opinion to the Trustees of St John's Home (continued)

Other information

The trustees are responsible for the other information. The other information comprises the information included in the report of the trustees, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
the charity has not kept adequate accounting records; or
the financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.
.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 7, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, 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 concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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Report of the Independent Auditors Opinion to the Trustees of St John's Home (continued)

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2022 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

The charity is subject to laws and regulations that directly and indirectly affect the financial statements. Based on our understanding of the charity and the environment it operates within, we determined that the laws and regulations which were most significant were the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2022, Employment Law, Health and Safety Law, GDPR and the regulatory oversight from the Care Quality Commission (CQC). We considered the extent to which non-compliance with these laws and regulations might have a material effect on the financial statements, including how fraud might occur. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate journal entries to improve the charity’s result for the period, management bias in key accounting estimates, income recognition and the potential impact of breaches to the applicable CQC regulations.

Audit procedures performed by the engagement team included:

Discussions with management and those responsible for legal compliance procedures within the charity to obtain an understanding of the legal and regulatory framework applicable to the charity and how the charity complies with that framework, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
Robustly challenging management’s assessment of going concern;
Challenging assumptions and judgements made by management in their significant accounting estimates;
Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations..

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Report of the Independent Auditors Opinion to the Trustees of St John's Home (continued)

Performing testing on a sample basis to validate the completeness of income.
Performing income cut-off testing in order to establish that income is being recorded in the correct accounting period.
Verifying investment income back to source documentation to ensure the completeness of investment income. Agreeing the investment valuations at the Balance Sheet date to the underlying 3rd party valuation reports;
Reviewing minutes of trustees’ meetings.

There are inherent limitations in the audit procedures described above and the more removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Will Amos Senior Statutory Auditor

For and on behalf of: Hawsons Chartered Accountants Statutory Auditors Jubilee House 32 Duncan Close Moulton Park Northampton NN3 6WL

8 July 2024

St John's Home Financial statements for the year ended 31 December 2023

Principal accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

The financial statements have been prepared to give a “true and fair” view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to give a “true and fair” view. This departure has involved following 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 2016) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Charities Act 2022.

St John’s Home meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Going concern

Due to the pandemic and the slow recovery from that, the pressure on costs and the effect of the war in Ukraine on investment values, losses have been incurred in the last three years and reserves depleted. However, based on improved levels of income, controls over costs and on cash flow projections, the trustees have a reasonable expectation that the Home has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing their report and the accounts.

Income

All income is recognised once the Charity has entitlement to the income, it is probable that income will be received, and the amount of the income receivable can be measured reliably.

Fees

Fee income is the total amount receivable for services provided during the period.

Donations and legacies

All monetary donations are included in full in the Statement of Financial Activities when receivable, provided that there are no donor-imposed restrictions as to the timing of the related expenditure, in which case recognition is deferred until the pre-condition has been met. For legacies, entitlement is taken as the earlier of the date on which either the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the Charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the Charity or the Charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Investment income

Investment income is recognised when receivable. Dividends are recognised once the income has been declared and notification has been received of the dividend due.

St John's Home Financial statements for the year ended 31 December 2023

Principal accounting policies (continued)

Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to the expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

Classification of expenditure

Expenditure, which is charged on an accruals basis, is allocated between:

expenditure incurred directly in the effort to raise voluntary contributions if applicable (raising funds)
expenditure incurred directly for the furtherance of the Charity's objectives including support, governance, management and administration costs of the Charity.

All expenditure is shown gross, inclusive of unrecoverable VAT, and has been classified under headings that aggregate all costs related to the specific activity.

Contributions to pension funds

The pension costs charged in the year represent the amount of the contributions payable to the schemes in respect of the accounting period. The assets of the schemes are held separately from those of the Charity.

Outstanding future contractually due contributions to closed multi-employer schemes are included as provisions for liabilities in the balance sheet.

Property, plant and equipment and depreciation

Property, plant and equipment costing more than £500 are capitalised. Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets (excluding freehold land) held for Charity use by equal annual instalments over their expected useful lives on a straight-line basis.

The periods generally applicable are:

Freehold buildings	50 years
Fixtures and fittings	3 - 20 years
Property improvements	3 - 20 years
Computer equipment	3 years

Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The Charity does not acquire put options, derivatives or other complex financial instruments.

St John's Home Financial statements for the year ended 31 December 2023

Principal accounting policies (continued)

Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any trade discounts.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Leased assets

All leases are regarded as operating leases and the payments made under them are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

Fund accounting

Endowment funds are funds which are held as capital. They represent investments, tangible fixed assets and net current assets.

Restricted funds are to be used for specified purposes laid down by the donor. Expenditure for those purposes is charged to the fund. They are held in current assets.

Unrestricted funds are fees and other incoming resources received or generated for expenditure on the general objectives of the Charity and which have not been designated for other purposes.

St John's Home

Financial statements for the year ended 31 December 2023

Statement of Financial Activities

Restricted Funds 2023 £ 5,160 - - - 5,160 - 368 368 - 4,792 - 4,792 3,887	Endowment Funds 2023 £ - - 14,697 - 14,697 5,805 - 5,805 36,310 45,202 (3,513) 41,689 950,758	Total 2022 £ 2,744 1,560,652 20,589 35,732
		1,619,717
		9,355 1,785,228
		1,794,583
		(174,193)
		(349,059) -
		(349,059) 3,022,515
8,679	992,447	2,673,456

All the above amounts are derived from continuing activities.

The accompanying accounting policies and notes form part of these financial statements.

St John's Home Financial statements for the year ended 31 December 2023

Statement of Financial Activities (continued)

Analysis of 2022 comparatives

Note Income and endowments from: Donations and legacies Charitable activities – fees from residents Investments 1 Other - grants Total income Expenditure on: Raising funds Charitable activities Total expenditure 2 Net gains on investments Net (deficit)/income Transfers between funds 9 Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward .	Unrestricted Funds 2022 £ 805 1,560,652 7,464 35,732 1,604,653 3,181 1,783,393 1,786,574 (52,897) (234,818) 1,941 (232,877) 1,951,688 1,718,811	Restricted Funds 2022 £ 1,939 - - - 1,939 - 1,835 1,835 - 104 - 104 3,783	Endowment Funds 2022 £ - - 13,125 - 13,125 6,174 - 6,174 (121,296) (114,345) (1,941) (116,286) 1,067,044	Total 2022 £ 2,744 1,560,652 20,589 35,732 1,619,717 9,355 1,785,228 1,794,583 (174,193) (349,059) - (349,059) 3,022,515 2,673,456
		3,887	950,758

The accompanying accounting policies and notes form part of these financial statements.

St John's Home Financial statements for the year ended 31 December 2023

Balance sheet

Note Fixed assets Property, plant and equipment 5 Investments 6 Current assets Investments 6 Debtors 7 Cash at bank and in hand 12 Creditors: amounts falling due within one year 8 Net current assets Total net assets Funds Endowment fund 9 Restricted funds 10 Unrestricted income fund	£ 225,743 34,371 280,878 540,992 154,404	2023 £ 1,609,461 630,760 2,240,221 386,588 2,626,809 992,447 8,679 1,625,683 2,626,809	£ 295,469 41,590 211,416 548,475 129,610	2022 £ 1,669,096 585,495
				2,254,591 418,865
				2,673,456
				950,758 3,887 1,718,811
				2,673,456

The financial statements were approved by the Board of Trustees on 8 July 2024

J C Fazackerley Trustee

The accompanying accounting policies and notes form part of these financial statements.

St John's Home Financial statements for the year ended 31 December 2023

Cash flow statement

Note Cash flows from operating activities: Net cash generated from operating activities 11 Cash flow from investing activities: Dividends, interest and rent from investments Purchase of property, plant and equipment Proceeds from sale of investments Purchase of investments Net cash utilised by investing activities Change in cash and cash equivalents in period Cash and cash equivalents at beginning of period Cash and cash equivalents and end of period 12	2023 £ 5,667 13,054 (27,494) 325,472 (247,237) 63,795 69,462 211,416 280,878	2022 £ (117,869)
		11,234 (34,613) 199,351 (183,465)
		(7,493)
		(125,362) 336,778
		211,416

The accompanying accounting policies and notes form part of these financial statements.

St John's Home Financial statements for the year ended 31 December 2023

Notes to the financial statements

1. Investment income

Investment income comprises income from:


Investment income comprises income from: Listed investments Bank and other deposits	2023 £ 21,064 - 21,064	2022 £ 20,476 113
		20,589

2. Analysis of total expenditure

Salaries Depreciation and loss on disposal Maintenance and repairs Food Heat and light Professional fees Cleaning materials Rates and water Insurance Other Total 2022	Investment income £ - - - - - 8,009 - - - - 8,009 9,355	Residential care £ 1,317,352 87,129 90,314 91,916 55,502 21,990 15,954 26,328 21,916 81,080 1,808,881 1,746,377	Support costs £ 14,065 - - - - - - - - 3,169 17,234 18,147	Gover- nance £ 7,032 - - - - 10,500 - - 2,435 1,585 21,552 20,704	Total 2023 £ 1,338,449 87,129 90,314 91,916 55,502 40,499 15,954 26,328 24,351 85,834 1,855,676 1,794,583	Total 2022 £ 1,336,535 88,450 50,802 87,851 49,546 44,004 13,584 19,888 20,312 83,611
						1,794,583

Included in professional fees are audit fees of £10,500 (2022: £9,600).

The lease expense was £38,647 (2022: £33,377).

St John's Home

Financial statements for the year ended 31 December 2023

Notes to the financial statements (continued)

3. Commitment to replace endowment fund capital

The Charity has a commitment to replace endowment capital as follows:

Capital to be replaced at 1 January Less: Repayment during the year Balance to be replaced at 31 December	2023 £ 514,515 (11,184) 503,331	2022 £ 525,699 (11,184)
		514,515

The total to be replaced comprises amounts expended out of capital under three schemes approved by the Charity Commission for St John's Home (unincorporated charity) dated 9 June 1992, 26 September 1997 and 23 October 2006.

These schemes respectively were for the refurbishment of bedrooms and kitchens, the construction of two bungalows and the construction of the Courtyard extension.

The total to be replaced is repayable over 60 years from December 2009.

4. Staff costs, trustee remuneration and expenses, and the cost of key management personnel

Wages, salaries and medical insurance Social security costs Pension scheme	2023 2022 £ £ 1,220,769 1,212,071 75,762 80,423 41,918 44,040
	1,338,449 1,336,535

The average number of employees of the Charity during the year was 65 (2022 - 67).

No employees had employee benefits in excess of £60,000 per annum in the current or preceding year.

The key management personnel of the Charity comprise the Trustees, the Matron, the Operations Manager, the Deputy Matron and the Finance Manager. The total employee benefits of the key management personnel of the Charity were £140,646 (2022: £153,941).

In both 2022 and 2023, the Charity Trustees were not paid or received any other benefits from employment with the Charity in the year, neither were they reimbursed expenses during the year, nor did they receive payment for professional or other services supplied to the Charity.

Pension costs are allocated wholly to unrestricted funds.

St John's Home

Financial statements for the year ended 31 December 2023

Notes to the financial statements (continued)

5. Property, plant and equipment

Cost At 1 January 2023 Additions Disposals At 31 December 2023 Depreciation At 1 January 2023 Disposals Provided in the year At 31 December 2023 Cost At 1 January 2022 Additions Disposals At 31 December 2022 Depreciation At 1 January 2022 Disposals Provided in the year At 31 December 2022 Net book amount at: 31 December 2023 31 December 2022 31 December 2021	Total £ 3,375,464 27,494 (5,049) 3,397,909 1,706,368 (5,049) 87,129 1,788,448 3,368,501 34,613 (27,650) 3,375,464 1,645,568 (27,421) 88,221 1,706,368 1,609,461 1,669,096 1,722,933	Freehold land and buildings £ 1,551,943 - - 1,551,943 175,000 - 25,000 200,000 1,551,943 - - 1,551,943 150,000 - 25,000 175,000 1,351,943 1,376,943 1,401,943	Freehold property improvements £ 1,251,523 - - 1,251,523 1,037,500 - 30,312 1,067,812 1,252,035 3,378 (3,890) 1,251,523 1,010,442 (3,890) 30,948 1,037,500 183,711 214,023 241,593	Fixtures and fittings £ 564,229 27,494 (5,049) 586,674 487,129 (5,049) 31,037 513,117 556,754 31,235 (23,760) 564,229 479,965 (23,531) 30,695 487,129 73,557 77,100 76,789	Computer equipment £ 7,769 - -
					7,769
					6,739 - 780
					7,519
					7,769 - -
					7,769
					5,161 - 1,578
					6,739
					250
					1,030
					2,608

All the above assets are used for direct charitable purposes.

St John's Home

Financial statements for the year ended 31 December 2023

Notes to the financial statements (continued)

6. Investments

Fixed asset investments

Cost or valuation At 1 January Additions at cost Surplus/(deficit) on revaluation Disposals At 31 December	Listed investments 2023 2022 Total Total £ £ 585,495 710,003 182,500 96,816 37,174 (108,378) (174,409) (112,946) 630,760 585,495	Listed investments 2023 2022 Total Total £ £ 585,495 710,003 182,500 96,816 37,174 (108,378) (174,409) (112,946) 630,760 585,495
		585,495

All listed investments are stated at their mid-market value as at the balance sheet date.

If the investments had not been revalued, they would have been included on the historical cost basis at the following amounts:

At 31 December 2023 At 31 December 2022 At 31 December 2021 An analysis of the location of investments is as follows: UK Non-UK	£ 533,209 543,142 533,627 2023 £ 215,793 414,967 630,760	2022 £ 204,108 381,387
		585,495

The Trustees consider that there are no individually significant holdings.

St John's Home

Financial statements for the year ended 31 December 2023

Notes to the financial statements (continued)

Investments (continued)

Current asset investments

Cost or valuation At 1 January Additions Surplus/(deficit) on revaluation Disposals At 31 December	2023 £ 295,469 64,737 13,184 (147,648)	2022 £ 361,040 86,649 (44,874) (107,346)
	225,743	295,469

All listed investments are stated at their mid-market value as at the balance sheet date.

If the investments had not been revalued, they would have been included on the historical cost basis at the following amounts:

the following amounts:
Historical cost values At 31 December 2023 At 31 December 2022 At 31 December 2021	£ 198,242
	297,266
	302,715

An analysis of the location of investments is as follows:

An analysis of the location of investments is as follows:
UK Non-UK	2023 £ 65,757 159,986	2022 £ 111,640 183,829
	225,743	295,469

7. Debtors

Fees outstanding Other debtors and accrued income Prepayments	2023 £ 4,741 18,872 10,758 34,371	2022 £ 17,105 13,750 10,735
		41,590

St John's Home

Financial statements for the year ended 31 December 2023

Notes to the financial statements (continued)

8. Creditors: amounts falling due within one year

Trade creditors and accruals Taxation and social security	2023 £ 134,374 20,030 154,404	2022 £ 111,699 17,911
		129,610

9. Endowment fund

The purpose of the Endowment Fund is to provide income for the charitable activities of the Home. The transfer represents investment income transferred to general funds of £14,697 (2022: £13,125) net of the amount transferred from general funds to replace endowment fund capital of £11,184 (2022: £11,184) (see Note 3).

10. Restricted funds

Table Linen Staff Benefit Residents’ Benefit Table Linen Staff Benefit Residents’ Benefit	Balance at 1 January 2023 £ 25 3,737 125 3,887 Balance at 1 January 2022 £ 25 3,303 455 3,783	Income £ - 160 5,000 5,160 Income £ - 1,784 155 1,939	Expenditure £ - - (368) (368) Expenditure £ - (1,350) (485) (1,835)	Transfers £ - - - - Transfers £ - - - -	Balance at 31 December 2023 £ 25 3,897 4,757
					8,679
					Balance at 31 December 2022 £ 25 3,737 125
					3,887

The funds above are restricted by the donors for specific uses.

St John's Home

Financial statements for the year ended 31 December 2023

Notes to the financial statements (continued)

11. Reconciliation of net movement in funds to net cash flow from operating activities

Net movement in funds Depreciation Loss on disposal of property, plant and equipment (Gains)/losses on investments Dividends, interest and rent from investments Decrease/(increase) in debtors Increase in creditors Net cash (utilised)/provided from operating activities	2023 £ (46,647) 87,129 - (53,773) (13,055) 7,219 24,794 5,667	2022 £ (349,059) 88,221 229 174,193 (11,234) (24,294) 4,075
		(117,869)

12. Analysis of cash and cash equivalents

Cash in hand Notice deposits Total cash and cash equivalents	2023 £ 280,878 - 280,878	2022 £ 211,416 -
		211,416

13. Capital commitments

There were no capital commitments as at 31 December 2023 (2022-£nil).

14. Pensions

The Charity operates defined contribution pension schemes for the benefit of the employees. The assets of the schemes are administered by Trustees in funds independent from those of the Charity.

15. Leasing commitments

Total future minimum lease payments under non-cancellable operating leases were as follows:

Within one year One to five years Later than five years	2023 Other £ 26,216 42,865 - 69,081	2022 Other £ 22,977 40,357 7,015
		70,349

St John's Home

Financial statements for the year ended 31 December 2023

Notes to the financial statements (continued)

16. Analysis of net assets between funds

2023 Property, plant and equipment Investments Current asset investments Other current assets Current liabilities Total unrealised gains at 31 December 2023 2022 Property, plant and equipment Investments Current asset investments Other current assets Current liabilities Total unrealised gains at 31 December 2022	Unrestricted Funds £ 1,267,379 - 225,743 286,965 (154,404) 1,625,683 27,501 1,327,014 - 295,469 225,938 (129,610) 1,718,811 (1,797)	Restricted Funds £ - - - 8,679 - 8,679	Endowment Funds £ 342,082 630,760 - 19,605 - 992,447 97,551 342,082 585,495 - 23,181 - 950,758 42,353	Total Funds £ 1,609,461 630,760 225,743 315,249 (154,404)
				2,626,809
		- - - - 3,887 - 3,887		125,052
				1,669,096 585,495 295,469 253,006 (129,610)
				2,673,456
		-		40,556

As disclosed in note 3, there is a commitment to transfer amounts totalling £503,331 (2022: £514,515) from Unrestricted to Endowment Funds.