Charity registration number 1157793 {England and Walesl
ST BARNABAS SOUTHWOLD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

ST BARNABAS SOUTHWOLD
LEGALAND ADMINISTRATIVE INFORMATION
Trustees
Nigel Johnson
Mark Clark
Lucy Turvill
Diane Brown
Trevor Clifford
Brian Duncan
David Gaffney
Kenneth Holloway
Elizabeth Tarris
Sarah Wallinglon Smith
Brenden S3rsfield
(Appointed 12 May 2025}
Honorary President
Julian Hirst
Home Manager
Clare Hart
Charity registration
England and Wales
1157793
Principal address
Sl Barnabas
Godyll Road
Southwold
IP18 6AJ
Auditor
Ensors
Connexions
159 Princes Street
Ipswich
IP1 1QJ
Bankers
Barclays Bank PIC
67 High Street
Southwold
IP18 6DT
Investment advisors
Brewin Dolphin Limiled
Lawrence House
5 St Andrews Hill
Norwich
NR2 1AD

ST BARNABAS SOUTHWOLD
CONTENTS
Page
Chaifman's statement
Trustees. report
3-10
Independenl audilorfs report
Stalemenl of financial activities
14
Balance sheet
15
Slalemenl of cash flows
16
Noles lo the financial slalements
17-31

ST BARNABAS SOUTHWOLD
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
l am delighted lo again make this report concerning the continued success of Sl Barnabas Care Home and the
important part played in this success by all ils employees. Indeed, the year 2023 to 2024 was a year of
consolidation as the new manager, Mrs Clare Hart {appoir)ted in June 20231 and her deputy Mrs Gemma Baggott,
gave stability and a sense of purpose lo the Home. I take this opportunity lo recognise the enormous impact that
Mrs Hart has brought to St Barnabas in her leadership of the whole team. There can be little doubt that the evidence
of the waiting list for places in the Home and the ease with which Mrs Hart is able to appoint full time and bank staff
is testimony to the happy atmosphere and positive approach which she has engendered since taking up her post.
Trustees weie delighted when Mrs Hart was accepted by CQC as the Registered Manager. On behalf of the
Trustees, l offer my formal thanks to every employee of St Barnabas for their hard work and commitment lo the
Home and ils residents.
Much work has been completed by the management team, much of il unseen, in the development of policies and
processes that continue lo support the care of the residents and their comfort. These include such matters as a
review of Health & Safely policies, a continuous programme of training and self-developmenl for our carers, a
formal review of the Risks associaled with the organisation conducted with the support of Trustees and the further
development of the PASS Care system which is a digital platform that helps providers plan care, manage staff, track
medication, report oulcomes, and meet CQC standards. GDPR standards have also been implemented and
updated.
Work has continued to lake place within the Home to benefit the daily lives of the residents. Trustee Brian Duncan
has overseen much of this physical work, overseeing the objective of providing every room (where practical) with
personal bathing and toilet facilities. This has entailed the clever reworking of rooms lo provide en-suite facilities
and the removal of one wel room lo allow for an extended bedroom and en-suite for one resident and useful storage
space for staff. Brian Duncan also organised the installation of an additional boiler which would safeguard the Home
in the event of boiler breakdown, as experienced in the past when both hol water and heating failed. The new boiler
will prevent such a catastrophic event occurring again and will provide both security and safeguarding for the staff
and residents alike. A major project has been identified which will require very careful planning and considerable
capital expenditure in the replacement of the lift. This is a vital piece of equipment that when il fails, as it has done
several limes in recent years, has a huge impact on the Home. its staff and residents. Trustees will have to review
the means of replacing the lift in the next 12 months. l am very grateful lo Brian Duncan for the many hours of
commitment Ihal he offers in support of the Manager and her team. The general ambience of the home continues lo
be irllpioved with a regular programme of redecoration and the purchase of new furniture. Resident surveys are
undertaken to provide feedback on such matters as activities, the weekly menu and any other malters concerning
residents, personal comforts. The appointment of an Activities Co-ordinator as well as the development of a formal
Housekeeper role has supported any inilialives identified. Activities such as Ihe Christmas Lunch, a Coffee Morning
and celebration of Sl Barnabas Day have all supported the residents in their daily lives.
As indicated above both Management and Trustees continue lo seek means of bringin9 si Barnabas lo the
attention of the wider community and in particular encourage residents of Southwold and Reydon to become
'Friends of Saint Barnabas,. We are very grateful lo Ihose who do become 'Friends' and continue to support our
activities.
The success of Sl Barnabas can also be evidenced from the loyalty of ils staff. There are several staff who have
now completed over 15 years continuous seNice and some. like Mrs Teresa Dunn, whose service is over 20 years.
Trustees are extremely grateful lo every member of staff, whatever their role within the Home. Without such loyally
and commitment St. Barnabas would not be recognised as one of the outstanding Care Homes within the area. I
offer my forrnal thanks lo every member of staff on behalf of the Tiuslees.

ST BARNABAS SOUTHWOLD
CHAIRMAN'S STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
I have mentioned several Trustees in this report. I thank all my fellow Trustees for their commilmenl to supporting
the Home and giving LAP their lime voluntarily. I would like to mention one other Trustee by name, Mark Clark, who
as Treasurer, has completed such sterling work irs completing our accounts and keeping us updated on the financial
outcomes facing St Barnabas. His attention to detail. regular reporting and close support of our administrator.
Sharon Calver, has been of enormous benefit to the successful running of the Home.
The Home was very fortunate lo receive a bequest from the estate of the late Margaret Haggerty. {Margarel had
been associated with the adminislralion of the Home in the past as was reported in last year's financial review.)
During 2024, a further bequest was received from the eslate of Ihe late Janet Foster. Janet had been a long-time
resident in the Home and she had told staff members she would be leaving something for the Home in her will. She
ended up leaving a sum in excess of £324,000, as reported in the Treasurer's statement, of which £250,000 was
received during the course of 2024 and the balance accrued.
The decision to place the flats on the open market as rental properties has proved financially beneficial as reported
by the Treasurer in his statement. Trustees decided that greater benefit would be received by the Charity by placing
the lower floor annexe, named The Retreat, as a full time let rather than a Holiday Lel. l arn grateful to Trustee
Diane Brown for her management of the flats and her work with our agent Durrants.
Finally, in this statement, l offer my thanks lo Sir Richard Dales who, as our President for over 20 years, offered his
constant support and wise counsel lo my predecessors and myself acting as Chair of Trustees. Not only did Sir
Richard offer his advice, bul also, for many years, his home as the centre for our meetings as Trustees. Together
with his wife Elizabeth Sir Richard offered comfort and refreshmentsl Sl Barnabas is very grateful to him for the
service he gave lo the Home, the Trustees, staff and residents alike. We welcome back another very long serving
'Friend' as our new President in Julian Hirst. I have no doubts his knowledge and experience of St Barnabas
garnered over many years will be immeasurably useful.
l end this report by again thanking Clare Hart and all her staff for the wonderful job Ihal they do in looking after and
supporting ou¥ residents. Wilhoul their loyally and commitment Sl Barnabas could not hope to maintain the
oulslanding reputation that it does.
'on (May 5. 2026 16.41 02 GMT+11
Nigel Johnson
Chaimlan
Date..
0510512026

ST BARNABAS SOUTHWOLD
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set oul in note 1 to the
financial slalemenls and comply with the Clo's governing document, the Charities Act 2011, FRS 102 "The
Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP 'Accounting
and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021"
In accordance with Ihe above rules the financial slalements have been audited. In the past the financial statements
were prepared and examined las opposed lo audited) by an independent examiner. However, the CIO'S tumover
and asset values exceed the point where the Charity Commission requires the CIO'S financial statements to be
subject to an audit. To this end after receiving competitive tenders Ensors, were selected as auditors, which
appointment will be confirmed al the AGM.
Objectives and activities
The objects of the CIO are lo provide residential care, sheltered accommodation andlor other care and assistance
for persons who are elderly andlor disabled andlor of limited means and in need of such care and assistance as the
management committee consider appropriate having regard lo the resources of Sl Barnabas.
The CIO'S aims are set out in the 'statemenl of purpose,, a copy of which is available al the Home for inspection.
The CIO aims lo provide a high standard of care. taking account of individuals, particular requirements, in a homely,
safe and secure premises, supported by suitably qualified staff.
Sl Barnabas's Home can accommodate fifteen residents in single room5 on a full time basis. Of these rooms
thirteen include en-suite facilities.
The CIO has externally let the five self contained flats next lo the Home as well as the annex ffat on the ground
floor, managed externally by Durranls Estate Agents. The proceeds from these rentals are used to assist in the
financing of the Home.
Strategies for achieving aims and objectives
The staff are key lo the success of the Home and Management and the Trustees priorilize the ongoing training of
the staff lo ensure they are trained to continue to provide the highest level of care and SLtpport to the residents of St
Barnabas.
There are currently thirty-seven staff at the Home.. len are full lime., Iwenly-three are part time., four are relief
workers., and there are five staff who have on call responsibilities.
Of the slaff, eleven are trained lo administer medication and all are trained in basic First Aid. Eight members of staff
have been trained in advanced First Aid.
The Manager has a Level S Diploma in Care Home management and leadership. the Deputy Manager is currently
studying for a Level 4 Diploma and one other member of staff has a Level 3 Diploma.
The Home also provides a wide range of face-lo-face training courses available to all staff throughout the year, plus
a small number of courses which are provided online.
Public benefit
The Trustees paid due regard to guidance issued by the Charity Commission in deciding what activities the CIO
should undertake.

ST BARNABAS SOUTHWOLD
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Grant making policy
The CIO utili5es a significant proportion of the kind and generous gifls its receives lo enable Sl Barnabas to provide
care for residents who are unable to meet the full costs of the care themselves. During the year the CIO awarded
care to two residents of a value of £8,370 (2023 £12,100>, though the funds for the 2024 care were evenlua51y
recovered from Suffolk County Council. It should be noted that grant commitments may be in place for many years
as it is the CIO'S objective to try and mainlain a person's residency for life, should they wish to remain in the Home,
subject to the means available lo the CIO. {N.8 If the commitment lo provide £8,370 per year in grants was lo
continue for five years the charitable grant concerned would exceed £40,000. For this reason, the CIO has lo
exercise restraint with regard lo the number and amount of grants it can make available. In general. the CIO prefers
to make such grants to existing residents of limited means whose residency is being supported, or is about to be
supported, by Suffolk County Council or similar Local Aulhority-l
Each application for such support is reviewed by Management and Ihe Trustees to consider eligibility and level of
support the CIO is able lo provide.
Achievements and performance
Significant activitie5 and achievements against objectives
The main measurement of achievement and performance of the CIO is the feedback from the residents and their
representatives Beyond this the CIO pays significant attention lo reports from the Care Quality Commission {CQC)
and Ihe Suffolk County Council placement team.
In accordance with regulations, Trustees regularly discuss the level of care with residents and their representatives.
This feedback over the past year has found the Home lo be considered well managed, with approachable and
caring staff. The Trustees were very pleased with this feedback.
The CQC last inspected in January 2020 and the Home received a 'Good' in every category.
The CIO has a formal complaints procedure to ensure any resident or representative ha5 the opportunity to discuss
any difficulties and have these dealt with in a prompt and professional manner.
The Trustees are very pleased with the level of activities the Home is able lo offer internally. During the year these
have included.. quizzes., word games,. card games., scrabble., reminiscing., craft projects., and bingo. Also, a number
of animal visits have been introduced and they have proved to be very popular. (Lamas, Donkeys, miniature Ponies
etc.)
The Home has played host to.. some musicians,. a magician., and other enlertainers.
The staff continue lo support residents to go out for walks, have a coffee or lunch out including visiting the Old Hall
nearby for a cream tea.
Vvhilsl the demand for care facililies is often difficult lo predict the levels were reasonably stable wilh the Home often
being full. However, during the year some rooms were left vacant longer than usual to allow lime for en-suite
cor)versions and other refurbishmenls to take place and this had an impact on income, despite this there has been
an overall increase in the income. The self_conlained flats were externally let throughout the year. However, late in
year (20241 it was decided that the Separate flat annex on the ground floor would be let for long term use rather than
holiday let as in order lo provide a more prediclable and probably overall higher level of income.

ST BARNABAS SOUTHWOLD
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Fundraising practices
The CIO is committed to hi9h standards in its fundraising activities. The Home is registered with the Fundraising
Regulator and adheres lo the Code of Fundiaising Practice. During the year, the CIO did nol use professional
fundraisers or commercial participators. All fundraising activities were carried out by staff and volunteers. No
complaints were received about fundraising practices. Fundraising activities are monitored to ensure Ihey are
respectful, open, honest, and legal, and all reasonable steps are taken to protect vulnerable people and others from
unreasonable intrusion, persistenl approaches, or undue pressure to donate.
A key element of the CIO'S fundraising activities is the Friends of St Barnabas. During the year The Friends of St
Barnabas contribuled £2,022 to help support the Home and residents with limited means. The Trustees remain very
grateful for the ongoing support of the Friends.

ST BARNABAS SOUTHWOLD
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Financial review
Filing and Acceptance of the Financial Statements
The si Barnabas financial slalemenls for 2024 presented in this document will be presented for acceptance al the
AGM. The 2023 financial statements approved al the 2024 AGM were successfully filed with the Charity
Commissioners.
Auditing
The amount of work required to be done with regard lo providing an audit is in excess of thal required for an
independent examination and the cost of preparing and approving the financial slalements has risen considerably,
from just over £4,000 lo more than £14,000.
Major Asset Valuations
In accordance with Ihe CIO'S accounting policies, the CIO'S main assets -freehold land and buildings
had to be
re-valued for balance sheet purposes among other things_ This cost £3,600, an amount that was accrued in these
accounts. Up and until 2023 the balance sheet showed the CIO'S land and buildings to be valued al £1.65 million,
based on a 2006 valuation. However. the latest valuation from Seplembei 2025 included in the financial statements
indicates a worth of £2.36 million in lotal, which was agreed as the appropriate valtjalion at 31 December 2022, 31
December 2023 as well as 31 December 2024 so has been adjusted as part of the opening balances as a prior year
adjuslmenl.
Financial Objectives
The CIO'5 financial objective is to break-even year on yeaf. This objective tends to be realized during years with
good residential income and low capilal expenditure. 11 also occurs when bequests are received, which sometimes
enables a surplus lo be recorded, as in 2023 when there was a surplus £86,491, thanks lo the bequest from Ihe
estate of late Margaret Haggerty. The current year has seen a surplus of £300,324, again mostly due to the large
legacy income received in the year.
Principal income sources
The CIO generated a majority of its income from the provision of residential care seNices from its Home in
Soulhwold.
Beguesls
During 2024, a bequest was received from the eslale of the late Janel Foster. Janel had been a long-time resident
in the home and left a sum in excess of £324,000, of which £250,000 was received during the course of 2024 and
the balance was accrued in these accoLJnts but was received in 2025.
Use of Bequests
Bequests are used lo support residents with limited financial means, as mentioned above and to fund specific
projects to enhance the Home as well as to generally support the Home. In the case of the Janet Foster bequest the
Trustees used some of the funds lo embark on a program of some much-needed renovations lo the Home. A
program of room refurbishment was commenced, including adding en-suite facilities to rooms. Adding en-suites
makes a room more comfortable for the residents and also makes the room concerned more marketable. A new
dual healing system was also installed. Ilt was also decided to install a new lift, the existing has been problematic
with regard to spares availability, bul the work and cost associated with this look place in 2025. 11 should be noted
that the program of adding en-suiles to rooms also continued into 2025.)
Going concern
The Trustees have reviewed the going concern status of Ihe CIO and consider this to be appropriate, based on the
CIO having adequate resources lo continue its operations for the foreseeable future.

ST BARNABAS SOUTHWOLD
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Reserves policy
The CIO aims to have general unrestricted funds of six months operating costs. Based on the 2024 figures this
would be approximately £535.000, with the CIO holding free reserves of £990,889. inclusive of the building reserve
of£550,000.
Investment policy
The CIO holds funds in a professionally managed investment portfolio.
The Trustees review and oversee the investment holding and the return generated, quarterly reports are made and
meetings are held regularly with the investment managers, enabling the Trustees lo have oversight on both the risk
and ethical basis of the investments. The Treasurer's Finance Report also notes monthly changes in the portfolio.
During the course of 2024 the Trustees approved an increase in the 'risk factor, in the portfolio from risk level 4 to
level 5. (Risk level 5 allows 50¢/0 of the fund lo be invested in equities, it was 40 /0 al risk level 4.)
Investment Performance - general unrestricted funds
The value of the unrestricted investment funds al December 2023 was £562.537. At DecembeT 2024 these funds
were valued al £607,580.
Major risks
The Trustees regularly review and proactively manage the risks of the CIO.
The Trustees Consider the key risk faced by the CIO lo be the provision of appropriate care lo the residents. This is
constantly monitored lo ensure the highest care standards are adhered lo and the Trustees consider that this risk is
appropriately managed.
The other key risks identified by Ihe Trustees are..
The shortfall of funding of residents funded by Suffolk County Council,
Debt risks where either residents or their family are unable lo continue to fund the cafe.,
The Home havir)g inadequate liquid funds.,
Non-compliance with relevant laws and regulations faced by the Home especially relating to the provision
of care, the CQC, healthy and safety and fire safely,
High staff turnover therefore removing the consistent care provided.,
Inadequate staff training.,
Staff dispensing incorrect medication to residents,.
Failure lo comply with food hygiene standards,. and
Inadequate maintenance of the lift and other equipment within the Home.
Plans for future period$
The Trustees continuously monitor the condition of the Home and the level of repair. The key projects currently
being considered are the continuing refurbishment of rooms and the additions of en-suite facilities and the
installation of a new lift and a new residential call system. 11 is expected that the capital expenditure program will
have an impact on the accounts for 2025. The expenditure concerned is expected lo be in the region of £70,000
£80,000.

ST BARNABAS SOUTHWOLD
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, governance and management
The CIO was founded in 1897 by Miss M Shipley and Revd C H Sutton.
The original charily {charity number 206792> was Converted lo a CIO al the Extraordinary General Meeling on 25
November 2014. With the CIO gaining approval from the Care Quality Commission ICQC) to commence operations
fiom 1 October 2015.
The CIO is administered by its Trustees. The CIO'S constitution requires not less than seven and not more than
twelve Trustees, lo be elected at an Annual General Meeting IAGMI. Trustees were originally elected for three years
with an option lo serve for a further three years, however Ihi5 has proved to be impractical and the Constitution is in
the process of being amended during 202510 enable Truslees lo serve for longer periods. This change will be pul lo
a vote at the AGM, where il is expected to pass. Trustees usually meet every I￿0 months. Frorr 2025 Trustees
complete a declaration of interest form annually and al each Trustees, meeting verbally, with any declaration of
inleresl being recorded in the notes of the meeting. None of the Trustees received any benefits from the Chariiy in
2024.
The below Trustees served throughout 2024 and up lo the dale of the financial statements herein. Brenden
Sarsfield joined in 2025 and following Lucy Turville's resignation took over as Secretary. Lucy Turvill continues as a
Trustee. Trevor Clifford was a Trustee al the lime of the financial slatements herein but ir)tends to resign al the
CIO'SAGM.
Nigel Johnson
Mark Clark
Lucy Turvill
Diane Brown
Trevor Clifford
Brian Duncan
David Gaffney
Kenneth Holloway
Elizabeth Tarris
Sarah Wallingion Smith
Brenden Sarsfseld
(Appoinled 12 May 2025}
Recruitment and appointment of trustees
The CIO'S constilulion requires not less than seven and nor more than twelve Trustees, who are elected at the AGM
for a period of three years. There is provision for re-election for a further three years. New Trustees are recruited
from the local community as required. None of the Trustees received any benefits or reimbursed expenses from the
Charity in 2024.
DBS Checking for Trustees
All Tmstees are DBS checked. (A DBS is a Disclosure and Barring Servicg check, including a criminal ￿COrd
check conducted in the UK to help employers make safer recruitment decisions by revealing an individuals
criminal history.)
Oryanisational structure
The CIO governance is overseen by the Trustees, who pass day lo day management responsibility lo the Home
Manager and their team.

ST BARNABAS SOUTHWOLD
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Induction and training of trustees
On appoinlmenl as a Trustee an in-depth induction is provided by the Chair and other Trustees, as well as the
Manager. This includes a review of the constitution, the CQC reports and requirements, and the lalesl financial
statements.
All Trustees are encourage to allend in house training sessions with the staff. or lo seek external training to support
them with their role.
Remuneralion policy
The Trustees oversee the annual remuneration rates. In setting these they pay particular attention lo the living wage
rates and the rates paid in similar Homes.
ststement of trustees. responsibilities
The Trustees are responsible for preparing the Trustees. Report and the financial slalements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare financial slalements for each
financial year which give a true and fair view of the stale of affairs of the CIO and of the incoming resources and
application of resources of the CIO for that year.
In preparing these financial slalements, Ihe Trustees are required to..
select suitable accounting policies and then apply them consistent5y',
observe the methods and principles in the Charities SORP",
make judgements and eslimales that are reasonable and prudent.,
state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial slalemenls., and
prepare the financial statements on the going concern basis unless il 15 inappropriate to presume that the
charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy al
any lime the financial position of the CIO and enable them lo ensure that the financial statements comply with the
Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing
document. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps
for the prevention and detection of fraud and other irregularities.
Care Quality Commission ICQCI
The CIO is registered with the Care Quality Commission registration number CRTI-224755225. The Home has to
comply with the Essential Standards of Quality and Safety as in the Health and Social Care Act 2008 {Regulated
Aclivilies)
Registered Manager and Responsible Person
Clare Hart Is the "Registered Manager and Responsible Person and she has an NVQ Level 5 Diploma in
management and care management. She has a background in Nursing and was a qualified RGN. In addition, two
Trustees who have senior nursing qualifications meet regularly with Clare and inspect the Home and they report on
their findings al Trustee meetings.
Management Accounts
Management accounts are prepared monthly and reviewed and reported on by the Treasurer. The reports
concerned and copies of the management accounts are circulated to all Trustees.

ST BARNABAS SOUTHWOLD
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The TfUStees' report was approved by Ihe Board of Trustees.
NigÈl Johnson 'lthay 5, 2026 16 41 02 GMT*11
Nigel Johnson
Trustee
Dale..
0510512026
10-

ST BARNABAS SOUTHWOLD
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF ST BARNABAS SOUTHWOLD
Opinion
We have audited the financial statements of Sl Barnabas Southwold (the 'CIO'I for the year ended 31 December
2024 which comprise the slalement of financial aclivilies, the balance sheet, the statement of cash flows and notes
to the financial statements. including significant accounting policies. The financial reporting framework thal has been
applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102 The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (United
Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial slalements..
give a true and fair view of the slate of the charity's affair5 as at 31 December 2024 and of its incoming
resources and application of resources, 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 Charities Acl 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI {ISAs (UK)) and applicable
law. Our responsibilities under those slandards are further described in the Auditorfs responsibilities for the audit ol
the financial statements section of our report. We are independent of the CIO in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including Ihe FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audil evidence we have obtained is sufficient and appropriate lo provide a basis for OUT opinion. In
accordance with Ihe Ethical Slandard, we have applied an exemption available for small entities which permits the
provision of certain non-audit services to the audited enlily.
Conclusions relaling to going concern
In auditing the financial slatemenls, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial slalemenls Is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions Ihal, individually or collectively, may cast significant doubt on the CIO'S ability lo continue as a going
concern for a period of al least Iwelve months from when the financial slalemenls are aulhorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
Other information
The other information comprises the information included in the annual report Dlher than the financial statements
and our auditor's report thereon. The trustees are responsible for the other information contained within the annual
report. Our opinion on the financial stalemenls does not cover the other information and we do not express any form
of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consider
whether Ihe other information is materially inconsistent with the financial statements or our knowledge obtained in
the course of the audit, or otherwise appears lo be materially misstated. If we identify such material inconsistencies
or apparent material misslalements. we are required to determine whether this gives rise to a material misstatement
in the financial slalements themselves. If, based on the work we have performed, we conclude that there is a
material misstatement of this other informalion, we are required to report that fact.
We have nothing lo report in this regard.
11

ST BARNABAS SOUTHWOLD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ST BARNABAS SOUTHWOLD
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 requires us lo report to you if, in our opinion..
the information given in the financial slalemenls is inconsislenl in any material respect with Ihe Irustees,
report", or
sufficient accounting records have nol been kept., or
the financial slalemenls are not in agreement with the accounting recofds", or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the slalemenl of trustees, responsibilities, 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 lo enable the preparation of financial statements that are free from material
misslalemenl, whether due to fraud or error. In preparing the financial slalements, the trustees are responsible for
assessing the CIO'S ability lo 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 lo cease operations, or
have no realistic alternative bul to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appoir71ed as auditor under section 144 of the Charities Act 2011 and report in accordance with the
Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are flee from
material misslatemenl, whether due to fraud or error, and to issue an aLJdilor's report that includes our opinion.
Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance
with ISAS IUKI will always delecl a material misslalemenl when it exists. Misslalements 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.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11
www.frc.org.uklaudilorsresponsibililies. This description forms part of our auditor's report.
Extent to which the audit was considered capable of detecting irregularities. including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material
misslalements in respect of irregularities, including fraud.
12

ST BARNABAS SOUTHWOLD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ST BARNABAS SOUTHWOLD
We considered the nature of the CIO, ils operating environment, and the sector in which il operates. This included
understanding the legal and regulatory framework applicable lo charities in England and Wales. particularly those
operaling care homes, such as the Charities Act 2011, the Care Standards Acl 2000, and regulations enforced by
the Care Quality Commission ICQCI.
We considered the charrty's policies and procedures relating lo..
Compliance with laws and regulations..
Detection and prevention of fraud.,
Ethical conduct and safeguarding of vulnerable beneficiaries.
We also considered the risk of management override of controls and the potential for fraudulent revenue
recognition, particularly in relation lo care fees and grant income.
Our audit procedures included..
Discussions with management and trustees regarding their understanding of fraud risks and compliance.
Review of minutes of trustee meetings and correspondence with regulators.
Evaluation of inlemal controls relevant to the preparation of the financial slatements;
Analytical procedures and subslanlive testing of income and expenditure;
Journal eniry lesling and review of accounting estimates for potential bias.
We did not identify any material misstatements or instances of non-compliance as a result of these procedures.
Other matters
The financial statements for the year ended 31 December 2023 were not audited. Accordingly, we do not express
an opinion on Ihe comparative figures induded in these financial slalements.
Use of our report
This report is made solely lo the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our aijdit work has been undertaken so Ihal we might slate lo the charity's Iruslees
those matters we are required to slate lo them in an audilof's report and for no other purpose. To the fullest exlenl
permitted by law, we do not accepl or assume responsibility to anyone other than the charity and the charity's
trustees as a body. for our audit work, for this report, of for the opinions we have formed.
Ensors
Slalutory Auditor
Connexions
159 Princes Street
Ipswich
IP1 1QJ
Dale. 0810512026
Ensors is eligible for appointment as auditor of the CIO by virtue of ils eligibility for appointmenl as auditor of a
company under section 1212 of the Companies Act 2006.
13

ST BARNABAS SOUTHWOLD
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted Endowment
funds
funds
2024
2024
Total Unrestricted Endowment
Total
funds
funds las restated)
2023
2023
2023
2024
Notes
Income and endowments from:
Donations and legacies
Charitable activities
Investments
Olher income
359,354
905,670
68,055
1,160
359,354
905,670
68,055
1,160
103,583
887,741
54,576
175
103,583
887.741
54,625
175
49
Total income and
endowments
1,334,239
1,334,239
1.046,075
49
1,046,124
Expenditure on:
Raising funds
Charitable activities
12,789
1,057,865
12,789
1,057,865
5,161
976,847
5,161
976,847
Total expenditure
1,070,654
1,070,654
982,008
982,008
Net gainsl{losses) on
investments
14
36,739
36,739
22,375
22,375
Net income
300,324
300,324
86,442
49
86,491
Transfers between
funds
49
{49)
Net movement in
funds
11
300,324
300,324
86,491
86,491
Reconciliation of funds:
Fund balances at 1 January
2024
3,141.269
5,070 3,146,339
3,054,778
5,070
3,059,848
Fund balances at 31
December 2024
3,441,593
5,070 3,446,663
3,141,269
5,070 3,146,339
The statement of financial activilies includes all gains and losses recognised in the year. All income and expenditure
derive from conlinving activities.
The notes on pages 17 10 31 form part of these financial slatemenls.
14-

ST BARNABAS SOUTHWOLD
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023 as restated
Notes
Fixed assets
Tangible assets
Investment property
Investments
16
17
18
1,365,704
1,085,000
607.580
1,361,810
1,085,000
562,537
3,058,284
3,009,347
Current assets
Debtors
Cash al bank and in hand
19
105,632
393.324
6,429
202,190
498,956
208,619
Creditors- amounts falling due within
one year
21
{110,577)
171 ,6271
Net Current assets
388.379
136,992
Total assets less Current liabilities
3.446,663
3,146,339
The funds of the CIO
Endowment funds
Unrestricted funds
23
24
5,070
3,441,593
5,070
3,141,269
3,446,663
3,146,339
The notes on pages 17 10 31 form part of these financial slalemenls.
The financial Statements were approved by the trustees on
0510512026
Mark Clark
Trustee
15

ST BARNABAS SOUTHWOLD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Notes
Cash flows from operating activities
Cash generated from operations
28
181.245
79,094
Investing activities
Purchase of tangible fixed assets
Investment property management costs
Purchase of other investments
Proceeds from disposal of other investments
Inveslmenl incorne received
{37,0731
(7,3601
115,736)
{7,801)
24,238
54,625
54,322
Net cash generated from investing activities
9,889
55,326
Net cash generated from financing activities
Net increase in cash and cash equivalents
191,134
134,420
Cash and cash equivalents at beginning of year
202,190
67,770
Cash and cash equivalents at end of year
393,324
202,190
The notes on pages 17 10 31 form part of Ihese financial slalements.
16-

ST BARNABAS SOUTHWOLD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
Charity information
St Barnabas Soulhwold is a charitable incorporated organisalion {CIO) fegistered with the Charity
Commission England and Wales. It was established under the As50cialion Model on 9 July 2014, which sets
out the CIO'S objects and the powers of the Trustees. The CIO is governed by ils constitution and is registered
under charity number 1157793.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the CIO'S governing document. the Charities
Act 2011, FRS 102 The Financial Reporting Slandard applicable in the UK and Republic of Ireland" and the
Charities SORP "Accounting and Reporting by Charities.. Slalemenl 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)" The CIO is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only lo
the extent required lo provide a true and fair view. This departure has involved following the Statement of
Recommended Practice for charilies applying FRS 102 rather than the version of the Slalement of
Recommended Practice which is referred lo in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Clo. Monetary
amounts in these financial slatemenls are rounded to the nearest £.
The financial slalements have been prepared under the historical cost convention, modified to include the
revaluation of freehold land and buildings, investment properties and investments. The principal accounting
policies adopled are sel out below.
1.2 Going concern
Al the lime of approving the financial slalemenls. the trustees have a reasonable expectation that the CIO has
adequate resources to conlinue In operational existence for Ihe foreseeable future. Thus the Iruslee5 continue
to adopt the going concern basis of accounting in prepafing the financial statements.
1.3 Charitable funds
Unreslricled funds are available for use al the discretion of the trustees in furtherance of their charitable
objeclives.
Within the unreslrided fund is the Revaluation Reserve fund, which relates lo the uplift in the land and
buildings property valuation and the investment propertie5.
Wilhin the unreslricled funds IS the Building ReseNe, held lo support future building repairs and maintenance.
Endowment funds are subject lo specific conditions by donors that the capital rnusl be maintained by the CIO.
1.4 Income
Income is recognised when the CIO is legally enlilled lo il after any performance conditions have been met,
the amounts can be measured reliably, and il is probable that income will be received.
Donations are recognised once the CIO has been notified of the donation, unless performance conditions
require deferral of the amount. Income lax recoverable in relation lo donations received undef Gift Aid is
recognised at the lime of the donation.
17-

ST BARNABAS SOUTHWOLD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
(Continued)
Legacies are recognised on receipt or otherwise if the CIO has been notified of an impending dislribulion, the
amount is known, and receipl is expected. If the amount is not known, the legacy is treated as a contingent
asset.
Inveslmenl income is recognised on receipt.
Income from the provision of care services is recognised as earned on a monthly basis.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a
third party, it is probable that a transfer of economic benefits will be required in settlement. and the amount of
the obligation can be measured reliably.
Costs which cannot specifically be atlribuled lo the provision of services lo residents or activities in the
furtherance of the charity's objects or activities for generating funds are allocated lo management and
adminislralion. An analysis of Ihe main items of expendilure is given in the notes to the financial statements.
1.6 Tangiblè fixed assets
Tangible fixed assets are initially measured at cost arid subsequently measured at cost or valuation, nel of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets les5 their residual values over their
useful lives on the following bases..
Freehold land and buildings
Property improvements
Fixtures, fittings and equipment
10 years slraighl line
5 years straight line
Freehold land and buildings are held al fair value based on Ihe open market valuation at each reporting dale.
Given the policy of holding freehold buildings at market value and due to the high slate of repair Ihe buildings
are rnaintained lo, il is the policy of the Trustees not to provide depreciation on these assets.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds
and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Investment property
Investment property, which is property held lo earn rentals andlor for capital appreciation, is initially
recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently
it is measured at fair value al the reporting end date. The Surplus or deficit on revaluation is recognised in
profit or loss.
1.8 Fixed asset investments
Fixed asset investments are initially measured al transaction price excluding iransaction costs, and are
subsequently measured al fair value al each reporting dale. Changes in fair value are recognised in nel
incomel(expendilurel for the year. Transaction costs are expensed as incurred.
1.9 Impairment of fixed assets
Al each reporting end dale, the CIO reviews the cafrying amoun15 of its tangible asse15 to determine whether
there is any indication that those assets have suffered an impairment loss. If any such indication exists. the
recoverable amount of the asset is estimated in order lo determine the extent of the impairment loss {if any).
18

ST BARNABAS SOUTHWOLD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
Icontinuedl
1.10 Cash and Cash equivalents
Cash and cash equ￿valentS include cash in hand, deposits held at call wilh banks, other short-term liquid
investments with original maturities of three months or less.
1.11 Financial instruments
The CIO has elected lo apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 '01her
Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instfumenls are recognised in the CIO'S balance sheet when the CIO becomes party lo the
conlraclual provisions of the instrument.
Financial assets and Iiabililies are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right lo sel off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured al
transaction price including transaction costs and are subsequently carried al amortised cost using the effective
interest method unless the arrangement conslilules a financing Iransaclion, where the transaction is
measured al the present value of the future receipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets, other than those held al fair value through income and expenditure. are assessed for
indicators of impairment al each reporting date. Financial assets are impaired where there is objective
evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset,
the estimated future cash flows have been affected.
Basi¢ financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless
the arrangement constitutes a financing transaction. where the debt instrument is measured at the present
value of the future payments discounted al a market rale of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost: using the effective interest rale method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the CIO'S contfaclual obligations expire or are discharged or
cancelled.
1.12 Taxation
The CIO is not registered for VAT and therefore all expenditure is shown inclusive of VAT.
The CIO 15 not liable for taxation on its income due lo its charitable slalus and as such does not make any
provision.
19

ST BARNABAS SOUTHWOLD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
(Continued)
1.13 Employee benefits
The cost of any unused holiday enlitlemenl is recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the CIO is demonstrably committed lo
terminate the employment of an employee or lo provide termination benefits.
1.14 Retirement benefits
Payments lo defined contribution retiremenl benefit schemes are charged as an expense as they fall due.
Critical accounting estimates and judgements
In the application of the CIO'S accounting policies, the Iruslees are required to make judgements, estimates
and assumptions about the carry1ng amount of assets and liabilities that are not readily apparent from other
source5. The eslimales and associated assumptions are based on historical experience and other factors that
are considered to be Televant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting
eslimales are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Key sources of estimation uncertainty
Land and buildings valuation
The CIO holds freehold property used for charilable purposes and investment properties. These properties are
carried at fair value, based on annual reviews of the valuation, which include periodic valuations performed by
independent, professionally qualified valuers.
The valuation process involves the use of significant estimates and judgements. including..
Market conditions at the point of the valuation..
Comparable evidence for similar Care Homes or investment properties in the local area., and
Adjustments for condition and location.
Given the nature of property markets, actual values realised on sale may differ from those estimated. The
Trustees consider the valuation methodology and assumptions to be reasonable and appropriate.
Income from donations and legacies
Unrestricted
funds
2024
Unrestricted
funds
2023
Donations and gifls
Legacies
11,341
348,013
3.583
100,000
359,354
103,583
20-

ST BARNABAS SOUTHWOLD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from donations and legacies
(Continued)
Unrestricted
funds
2024
Unrestricted
funds
2023
Donations and gifts
Donations from the Friends
General donations
2,022
9,319
1,498
2,085
11,341
3,583
Income from charitsble activities
Unrestricted
funds
2024
Unrestricted
funds
2023
Provision of care services
Resident fees
905,670
887,741
Income from investments
Unrestricted Endowment
funds
funds
2024
2024
Total Unrestrlcted Endowment
funds
funds
2023
2023
Total
2024
2023
Rental income
Income from listed
investments
Interest receivable
50,662
50,662
40,988
40,988
13,733
3,660
13,733
3,660
12,962
626
12,962
675
49
68,055
68,055
54.576
49
54,625
Other income
Unrestricted Unrestricted
funds
funds
2024
2023
Other income
1.160
175
21

ST BARNABAS SOUTHWOLD
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Expenditure on raising funds
Unrestricted Unrestricted
funds
funds
2024
2023
Investment management
12,789
5,161
Expenditure on charitsble activities
Provision of Provision of
care
care
services
services
2024
2023
Direct costs
Staff costs
Depreciation and impairment
Food and provisions
Rates including water
Insurances
Light and heat
Property repairs and maintenance
Lift repairs and servicing
Fire safety
General household expenses
Cleaning, laundry and special clothing
Activities, entertainment and therapy
Digilalisation of medical records
Subcontractor wages
Recruitment expenses
Property valuation costs
754,960
33,179
47,490
17,279
12,485
38,194
47,510
375
482
16,731
4,494
2,045
10,054
20,007
675
3,600
723,861
43,997
45,596
12,323
19,009
20,938
36,041
350
428
14,436
3,005
1,083
5,904
1,009,560
926,951
Grant funding of activities (see note 9)
12,100
Share of support and governance costs (see note 10)
Support
Governance
29,774
18,531
32,583
5,213
1,057,865
976,847
Analysis by fund
Unrestricted funds
1,057,865
976,847
-22-

ST BARNABAS SOUTHWOLD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Grants payable
Provision of
care
services
2023
Grants to individuals
12,100
Provision of care services
The grants are made lo residents with limited means in order to support them wilh the Home's residential
fees.
During the year the CIO awarded care to two residents of a value of £8,370 {2023'. £12,100), though the funds
for the 2024 care were eventually recovered from Suffolk County Council.
10 Support costs allocated to activities
2024
2023
TV rent and licence
Registration fees and subscriptions
Telephone and internet
Printing, postage and stationery
Advertising
Trainin9
Other expenses
Governance costs
177
7,319
4,556
3,045
249
8,594
5,834
18,531
166
6,583
5,525
2,506
1,315
11,002
5,486
5,213
48,305
37,796
Analysed between..
Provision of care services
48,305
37,796
2024
2023
Governance costs comprise:
Accountancy
Legal and professional
Secretarial fees
Bank charges
14.000
1,413
2.580
538
1,400
1,927
1,200
686
18,531
5,213
23-

ST BARNABAS SOUTHWOLD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11 Net movement in funds
2024
2023
The net movemenl in funds is stated after chargingllcrediling):
Fees payable for the audit of the charity's financial statements
Fees payable for the independent examination
Depreciation of owned tangible fixed assets
14.000
1,400
43,997
33,179
12 Trustees
None of the trustees lor any persons connected with them) received any remuneration or benefits from the
CIO during either year, as they provide the services voluntarily free of charge.
No trustees claimed expenses in the year nor in the prior year.
13 Employees
The average monthly number of employees during the year was..
2024
Number
2023
Number
Provision of seNices lo residents
37
37
Employment costs
2024
2023
Wages 2nd salaries
Social security costs
Other pension cos15
691,764
48,755
14,441
669,734
43,233
10,894
754,960
723,861
The charity had no employees whose total remuneration exceeded £60,000 in the year.
Total employee benefits paid to key management personnel for the year, including employers national
insurance and pension contributions, amounted lo £107,452 (2023.. £101,318). Key management personnel
comprise the care home manager and her deputies.
14 Gains and losses on investments
Unrestricted Unrestricted
funds
funds
2024
2023
Gainsl(lossesl arising on..
Revaluation of investments
36,739
22,375
24-

ST BARNABAS SOUTHWOLD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
15 Taxation
The charity is exempt from laxalion on ils activities because all its income is applied for chafilable purposes.
16 Tangible fixed assets
Frèahold land
Property
and buildlngs Improvements
Fixtures.
littings and
equipment
Total
Cost or valuation
At 1 January 2024 as restated
Additions
1,275,000
102,305
6,577
257,564 1,634,869
30,496
37,073
At 31 December 2024
1,275,000
108,882
288,060
1,671,942
Depreciation and impairment
At 1 January 2024 as reslaled
Depreciation charged in the year
70,290
10,888
202,769
22,291
273,059
33,179
At 31 December 2024
81,178
225,060
306,238
Carrying amount
At 31 December 2024
1,275,000
27,704
63,000 1,365,704
At 31 December 2023 as restated
1,275,000
32,015
54,795 1,361,810
Freehold land and buildings are Included at their fail value on a market value basis. The last valuation wa5
completed on 13 August 2025 by Christie & Co Chartered Surveyors, covering both 31 December 2024 and
2023 valuations, which the Tru51ees' consider to be a fair basis.
The CIO maintains the buildings to a good stale of repair and given the valuation basis these are not subject
lo annual depreciation. however, in reviewing the annual valuation the Trustees consider any indicators of
impairment.
At 31 December 2024, had the revalued assets been carried at historic cost less accumulated depreciation
and accumulated impairment losses. their carrying amount would have been approximately £481,901 12023".
£481,901) which includes the investment properties.
17 Investment property
Fair value
At 1 January 2024 as restated and 31 December 2024
1,085,000
Investment property comprises the residential fla15 and The Relreal holiday let. The fair value of the
investment property has been arrived at on the basis of a valuation carried out on 13 August 2025 by Christies
Chartered Surveyor5. who are not connected with the CIO. The valuation was made on an open market valLJe
basis by reference to market evidence of Iransaclion prices for similar properties which the Trustees. have
considered lo be a fair valuation basis.
25-

ST BARNABAS SOUTHWOLD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18 Fixed asset investments
Share
portfolio
Cash
Total
accounts investments
Valuation
Al 1 January 2024
Additions
Disposals
Valuation changes
Income
Fees
538.358
145,186
1127,921)
36,739
24,408
(145,186)
127,921
562,766
36,739
13,733
{5,429}
13,733
{5,4291
Al 31 December 2024
592.362
15,447
607,809
Carrying amount
At 31 December 2024
592,362
15,447
607,809
At 31 December 2023
538,358
24,408
562.766
Historical cost of these investments is £548,168 {2023. £548,945}.
Individual investments representing more than 5 % of the total carrying value of the investment portfolio are
disclosed separately below.
Investment Name
Description
Carrying•/o of Total Investments
Value {£)
ISHARES PHYSICAL METALS PLC
Precious Metal
ISHARES PHYSICAL GOLD ETC USD Commodities
(GBP) ACC
40,460
6.66'/
FIRST TRUST GLOBAL FUNDS PLC Open End and
US LARGE CAP CORE ALPHADEX Miscellaneous
UCITS B USD
Investment Vehicles
39,959
6.58°h
JANUS HENDERSON FIXED
INTEREST MONTHLY INCOME FUND
FQ INC
Corporate Bond Funds
36,842
6.06.
Funds are invested in quoted investments after receiving professional advice. Whilst these investments can
be redeemed at short notice, neverttteless they are viewed as medium term investments with a view to the
funding any future work to convert the investments flats into part of the Home.
There are no other known restrictions which mighl apply on realisation of these assets.
26-

ST BARNABAS SOUTHWOLD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
19 Debtors
2024
2023
Amounts falling due within one year:
Trade debtors
other debtors
Prepayments and accrued income
21,842
78,895
4,895
6,429
105,632
6,429
20 Prior year adjustment
Revaluation of Property and Reclassification to Investment Property
During the year ended 31 December 2024, the Trustees identified that the residential home and flats held by
the Charity should have been revalued in accordance with the enlily's revaluation policy and the requirements
of FRS 102 Section 16 - Investment Propety, as part of the property has been leased to third parties. Under
the accounting standards, the leased portion meets the definition of an inveslmenl property and is required lo
be measured al fair value at each reporting date.
A full valuation was obtained from Neil Oxford (MRCIS) of Christie & Co during the current year and, in line
with the policy, the valuation has been backdated to 1 January 2023. The valuation resulted in an increase of
£710,000 which should have been recognised in the prior period. This brought the total value of the St
Barnabas care home property and flats to £2,360,000. Of this lolal, £1,085,000 relates to the flats that qualify
as investment pioperty and should have been separately recognised as such. The Trustees have reviewed
these valuations and considered these lo be a fair reflection of the values at 31 December 2022, 2023 and
2024.
As this error relates lo a prior period, the comparative figures for the year ended 31 December 2023 have
been restated. The impact of the adjustment is to restate the freehold property and investment properties lo
their fair valLJes.
The adjustment has been applied retrospectively. and the opening balances as al 1 January 2023 and the
comparative figures for 2023 have been reslaled accordingly.
21 Creditors: amounts falling due within one year
2024
2023
Other taxation and social security
Trade creditors
Other creditors
Accruals
11,388
3,761
54,039
41,389
12,403
1,201
49,052
8,971
110,577
71,627
22 Retirement benefit schemes
2024
2023
Defined contribution schemes
Char9e lo profit or loss in respect of defined contribution schemes
14,441
10,894
27-

ST BARNABAS SOUTHWOLD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
22 Retirement benefit schemes
{Continued)
The CIO operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the CIO in an independenlly administered fund.
23 Endowment funds
Endowment funds represent assets which musl be held permanently by the CIO.
At 1 January
2024
Incoming
resources
Transfers
At31
December
2024
Permanent endowments
Robert Kersey Beneficent Trust
5,070
5,070
Previous year..
At 1 January
2023
Incoming
resources
Transfers
At31
December
2023
Pernianent endowments
Robert Kersey Beneficent Trust
5,070
49
(49)
5,070
The Robert Kersey Beneficent Trust was a small charity adminislraled by the Trustees of Morden College
since 1907. 11 provided pensions for women of limited means. of not less than 60 years of age. In January
1995 the capital figure. which represented a permanent endowment, were transferred to the CIO to
adminisler.
24 Unrestricted funds
The unreslricled funds of the charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as lo how they may be used. These include
designated funds which have been sel aside out of unrestricted funds by the trustees for specific purposes.
At 1 January
2024 as
restated
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At31
December
2024
Revaluation
reserve
1.878,099
550,000
713,170
1,878,099
550,000
1,013,494
Building reserve
General funds
1,334,239
1.070,654
36.739
3,141,269
1,334,239
(1,070,654)
36,739
3,441,593
28-

ST BARNABAS SOUTHWOLD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
24 Unrestricted funds
(Continued}
Previous year:
At 1 January
2023 as
restated
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At31
December
2023 as
restated
Revaluation
reserve
Building reserve
General funds
1,878,099
550,000
626,679
1,878,099
550,000
713,170
1,046,075
(982,008)
49
22,375
3,054,778
1,046,075
{982,0081
49
22,375
3,141.269
The fevaluation re5erve5 IS the uplift in the freehold property and investment properties value, against the
initial cost of these.
The Building Reserve is designated for use against the costs of conversion of property.
The General Funds will include monies, donated by members, which are designated lo assist residents of
limited means and which may not have been fully applied in the year.
There were no reslricled funds either during the year or in the previous year.
25 Analysis of net assets between funds
Unrestricted Endowment
funds
ftjnds
2024
2024
Total
2024
At 31 December 2024,.
Tangible assets
Investment properties
Investments
Current asselsllliabilities}
1.365,704
1.085,000
607,580
383,309
1,365,704
1,085,000
607,580
388,379
5,070
3,441,593
5,070
3,446,663
29-

ST BARNABAS SOUTHWOLD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
25 Analysis of net assets be￿een funds
(Continued}
Unrestricted Endowment
funds a$
funds
restated
2023
Total
as restated
2023
2023
At 31 December 2023.
Tangible assets
Investment properties
Investments
Current asselsllliabilities}
1,361,810
1,085,000
562,537
131,922
1,361,810
1,085,000
562,537
136,992
5,070
3,141,269
5,070
3,146,339
26 Operating lease commitments
Lessee
At the reporting end date the CIO had outstanding commitments for future minimum lease payments under
non-cancellable operating leases, which fall due as follows..
2024
2023
Within one year
Between Iwo and five years
1,619
2,159
1,619
1,619
3,778
27 Related party transactions
There were no disclosable related party transactions during the year12023'. none).
There were no transactions during the year between the Charity and any Trustee or close relative of a
Trustee.
-30-

ST BARNABAS SOUTHWOLD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
28 Cash generated from operations
2024
2023
Surplus for the year
300,324
86,491
Adjustments for:
Investment income recognised in statement of financial activities
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
Investment management non-cash expenditure
168,0551
136,7391
33,179
12,789
154,625>
122,3751
43,997
Movements in working capital:
(Increaselldecrease in debtors
Increase in creditors
199,2031
38,950
25,465
141
Cash generated from operations
181,245
79,094
29 Analysis of changes in net funds
The CIO had no rnalerial debt during the current or proceeding year.
30 Non-audit services provided by auditor
The non-audit services comprised assistance with the preparalion of the slalutory financial slalements and
associated accounling schedules.
31