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2023-05-31-accounts

Charity registration number 1158481

THE ROSEMOUNT HOME CIO

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

THE ROSEMOUNT HOME CIO

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Florence Wilson
Avril Rowbotham
Brian Bell
Marie Carr
John Colquhoun
Kathleen Grogan
Charity number 1158481
Principal address 79 Medomsley Road
Consett
County Durham
DH8 5HN
Accountants Westwood Accountancy Ltd
Office 10, Consett Innovation Cenre
Ponds Court Business Park
Genesis Way
Consett
DH8 5XP
Independent examiner RMT Accountants & Business Advisors Ltd
Gosforth Park Avenue
Newcastle upon Tyne
NE12 8EG
Bankers HSBC Bank plc
42 Middle Street
Consett
County Durham
DH8 5QL
Solicitors Ward Hadaway
Sandgate House
102 Quayside
Newcastle upon Tyne
NE1 3DX

THE ROSEMOUNT HOME CIO

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Statement of cash flows 7
Notes to the financial statements 8 - 17

THE ROSEMOUNT HOME CIO

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MAY 2023

The Trustees present their annual report and financial statements for the year ended 31 May 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Aims

The Charity's purpose is to provide a residential home and associated amenities for the benefit of aged and infirm people who have need of the facilities provided at the home. An individual’s economic status, gender, ethnicity, race, religion or disability does not form part of our assessment.

Objectives

Rosemount Home has been established since 1984 and has a well respected name in our area. Our objective is to continue to provide:

Our Volunteers are valued by the residents for their friendship and assistance with shopping.

Public benefit

The trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity. All applications from elderly persons who meet the Home’s admission criteria are considered and equal merit is given to all such applicants. Applicants who are unable to meet the Home’s residential charges are able to make application to the local authority to meet all or part of them.

Achievements and performance

As our residents continue to age and require extra care we constantly monitor our staffing levels to ensure that all residents have a suitable and safe level of staff. As we recover from the covid pandemic we are pleased to report that due to strict adherence of staff and families we have had very few Covid cases and none critical.

Our fundraising continues at a slightly lower level due to the lack of communication with the families and supporters not being able to access the home. We continue to upgrade the home and redecorating and updating of rooms at suitable times, we are currently looking to conform to the CQC who have advised us that they would like to see the laundry room and pantry reversed by location to avoid cross contamination, we have an aim to complete this by March 2023.

Our entertainment program is fully packed with a variety of entertainment and we have seen a greater input from residents families to the social and craft sessions.

All of our ladies and staff are now vaccinated and we are pleased to see an increase in gentlemen residing at Rosemount.

Financial review

The Charity made a surplus of £19,834 (2022 - deficit of £24,668) for the year.

THE ROSEMOUNT HOME CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023

Reserves

The Charity holds reserves to enable it to meet future maintenance and the eventual replacement of the lift. It also maintains the reserves to cover the costs of the redundancy payments should they ever become necessary if bed occupancy or revenues were to fall below the levels required to maintain the charity in its present condition. At the year end the level of free reserves (being those not tied up in fixed assets) was £67,105 (2022 - £55,593).

Investment powers and policy

The Charity hold investments in accordance with the Trustees powers at a level which they believe would sustain the charity in the medium term and protect it against any unexpected events which may occur. £10,379 (2022 - £15,336) was held in the Charities Aid Foundation high interest account at the year end.

Structure, governance and management

The Rosemount Home CIO is a registered charity under the Charities Act 2011. It is governed by its foundation model constitution dated 1 July 2014.

The Rosemount Home CIO was registered on 8 September 2014 as a Charitable Incorporated Organisation. Prior to this date the charity was registered as an unincorporated charity under the same name (registration number 515464); this charity has now been removed from the Charity Commission register. On 3 December 2014 the funds of the unincorporated charity were transferred into the new Charitable Incorporated Organisation.

In all respects the charity operation and organisation of The Rosemount Home remains the same.

Trustees

The Trustees who served during the year were: Florence Wilson Avril Rowbotham Brian Bell Marie Carr John Colquhoun Kathleen Grogan

Recruitment of trustees

New Trustees are identified and appointed by the existing Trustees. The Chair of Trustees is responsible for the induction of new trustees which involves an explanation of the history and objectives of the charity. New trustees are encouraged to familiarise themselves with the guidance provided by the Charity Commission.

Organisational structure

The charity is managed by the Board of Trustees who meets at regular intervals, normally monthly, to discuss the running of the home with senior staff. A sub-committee is responsible for the detailed monitoring and supervision of the financial affairs of the Charity.

Government and internal control

The Trustees regularly carry out reviews of the major risks facing the Charity and discuss them at regular Trustee meetings. The Trustees have taken steps where possible to mitigate the impact of any such risks. The Trustees will continue to monitor risks and formalise their approach to risk as outlined in the Charity Commission’s publication on Risk Management.

Related parties

The property used as the home was owned by L S Barnett, and is vested in the executors of his estate. The Executors are the legal owners of the property and they lease it to The Rosemount Home for the purpose of using it as a residential home as outlined in the Objects of the Charity. The Executors are Allan Lawrence, Florence Wilson (Trustee of The Rosemount Home CIO and daughter of L S Barnett), Stewart Barnett (brother of Florence Wilson and son of L S Barnett), and W M Crumbley (solicitor). The rent paid by the charity was £15,000 for the year and has been authorised by the Charity Commissioners.

THE ROSEMOUNT HOME CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' Report and the financial statements 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 statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that 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 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They 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.

The Trustees' report was approved by the Board of Trustees.

Avril Rowbotham Trustee

Dated: 11 March 2024

THE ROSEMOUNT HOME CIO

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ROSEMOUNT HOME CIO

I report to the Trustees on my examination of the financial statements of The Rosemount Home CIO (the charity) for the year ended 31 May 2023.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Stephen Slater (FCA) Member of the Institute of the Chartered Accountants in England and Wales for and on behalf of RMT Accountants & Business Advisors Ltd Gosforth Park Avenue Newcastle upon Tyne NE12 8EG

Dated: 12 March 2024

THE ROSEMOUNT HOME CIO

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MAY 2023

Unrestricted Unrestricted
funds funds
2023 2022
Notes £ £
Income and endowments from:
Donations and legacies 3 3,161 3,568
Charitable activities 4 585,437 490,715
Other trading activities 5 1,678 609
Investments 6 373 12
Other income 7 - 3,605
Total income 590,649 498,509
Charitable activities 8 570,815 523,177
Net income/(expenditure) and movement in funds 19,834 (24,668)
Reconciliation of funds:
Fund balances at 1 June 2022 112,437 137,105
Fund balances at 31 May 2023 132,271 112,437

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE ROSEMOUNT HOME CIO

BALANCE SHEET

AS AT 31 MAY 2023

Notes
Fixed assets
Tangible assets
14
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds		 2023
£
1,139
33,384
103,418
137,941
(70,836)		 £
65,166
67,105
132,271
132,271
132,271		 2022
£
711
49,935
59,446
110,092
(54,499)		 £
56,844
55,593
112,437
112,437
112,437

The accounts were approved by the Trustees and authorised for issue on 11 March 2024

Avril Rowbotham Trustee

THE ROSEMOUNT HOME CIO

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MAY 2023

Notes
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
24
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
Net cash used in investing activities
Net cash used in financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
(14,896)
20
373		 £
58,475
(14,503)
-
43,972
59,446
103,418		 2022
£
(1,806)
1
12		 £
(24,611)
(1,793)
-
(26,404)
85,850
59,446

THE ROSEMOUNT HOME CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

1 Accounting policies

Charity information

The Rosemount Home CIO is a charitable incorporated charity. The principal place of business is 79 Medomsley Road, Consett, County Durham, DH8 5HN.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. The Board has concluded that the going concern assumption is appropriate in preparing these financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Income from charitable activities is measured at the fair value of the consideration receivable and represents amounts receivable for services provided to residents of the care home.

Donation income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.

Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.

THE ROSEMOUNT HOME CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023

1 Accounting policies

(Continued)

Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.

Income from investments is included in the year in which it is receivable.

1.5 Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.

1.6 Tangible fixed assets

All assets costing more than £100 are capitalised.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings The shorter of the expected life of 25 years or the remaining life of the lease. This is charged on a straight-line basis. Plant and equipment 4% straight line Fixtures and fittings 25% straight line Office equipment 3 years straight line

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 Stocks

Stocks are stated at the lower of cost and net realisable value.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

THE ROSEMOUNT HOME CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023

1 Accounting policies

(Continued)

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

THE ROSEMOUNT HOME CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Assessing indicators of impairment

In assessing whether there have been any indicators of impairment of assets, the trustees have considered both external and internal sources of information such as market conditions and experience of recoverability. There has been no valuations carried out by external surveyors to report.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Determining residual values and useful economic lives of tangible fixed assets

The charity depreciates tangible fixed assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.

Judgement is applied by trustees when determining the residual values for tangible fixed assets. When determining the residual value trustees aim to assess the amount that the company would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices.

3 Donations and legacies

2023
£
Donations and gifts
3,161
4
Charitable activities
2023
£
Charges to residents
585,437		 2022
£
3,568
2022
£
490,715

THE ROSEMOUNT HOME CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023

5
Other trading activities
Fundraising activities
6
Investments
Interest receivable
7
Other income
Government grants receivable
8
Charitable activities
Staff remuneration
Purchases
Resident entertainment
Other staff costs
Sundry expenses
Share of support costs (see note 9)
Share of governance costs (see note 9)
Analysis by fund
Unrestricted funds		 2023
£
1,678
2023
£
373
2023
£
-
2023
£
362,004
27,091
1,366
3,417
75
393,953
157,484
19,378
570,815
570,815		 2022
£
609
2022
£
12
2022
£
3,605
2022
£
331,992
21,395
843
1,792
144
356,166
144,226
22,785
523,177
523,177

THE ROSEMOUNT HOME CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023

9 Support costs

Staff remuneration
Depreciation
Rent and utilities
Other establishment costs
Repairs and maintenance
Insurance
Communication and IT
Miscellaneous office
expenses
Home registration
Sundry expenses
Independent examination
fees
Accountancy
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
72,584
12,456
6,554
-
33,716
1,775
6,561
-
22,516
-
6,995
368
3,744
92
1,170
62
2,508
-
1,136
75
-
2,099
-
2,451
157,484
19,378
157,484
19,378		 2023
£
85,040
6,554
35,491
6,561
22,516
7,363
3,836
1,232
2,508
1,211
2,099
2,451
176,862
176,862		 Support
costs
Governance
costs
£
£
57,652
15,346
11,078
-
34,951
1,840
5,995
-
23,387
-
3,375
178
3,344
131
1,426
75
2,508
-
510
122
-
2,099
-
2,994
144,226
22,785
144,226
22,785		 2022
£
72,998
11,078
36,791
5,995
23,387
3,553
3,475
1,501
2,508
632
2,099
2,994
167,011
167,011

The charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Having identified its governance costs, the remaining support costs together with the governance costs are allocated to the charitable activity undertaken in the year.

10 Independent examiner's fees

The analysis of the independent examiner's remuneration is as follows:

The analysis of the independent examiner's remuneration is as follows:
Fees payable to the charities' independent examiner 2023 2022
£ £
Independent examination of annual financial statements 2,099 2,099

11 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

THE ROSEMOUNT HOME CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023

12 Employees

The number of employees (excluding the trustees) during the year, includes the actual number of staff employed in that category during the year and was not calculated on the basis of full time equivalents.

The numbers were as follows:

Care workers
Cooks
Domestics
Management
Administration
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
23
2
4
2
1
32
2023
£
429,285
12,859
4,900
447,044		 2022
Number
24
1
3
2
1
31
2022
£
391,162
10,757
3,071
404,990

Part time care workers comprise staff who are employed on a occasional basis as well as regular part time staff.

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

Key personnel are the Manager and Deputy Manager of the home.

The remuneration of key management personnel is as follows.

2023 2022
£ £
Aggregate compensation 57,230 51,515

No guarantees have been given or received.

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

THE ROSEMOUNT HOME CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023

14
Tangible fixed assets
Leasehold
land and
buildings
Plant and
equipment
Fixtures and
fittings
£
£
£
Cost
At 1 June 2022
105,907
27,822
233,475
Additions
8,767
-
5,302
Disposals
-
-
(309)
At 31 May 2023
114,674
27,822
238,468
Depreciation and impairment
At 1 June 2022
76,405
4,694
229,261
Depreciation charged in the year
2,417
1,116
2,882
Eliminated in respect of disposals
-
-
(212)
At 31 May 2023
78,822
5,810
231,931
Carrying amount
At 31 May 2023
35,852
22,012
6,537
At 31 May 2022
29,502
23,128
4,214
15
Stocks
Food and medical supplies
16
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 Office
equipment
£
1,201
827
-
2,028
1,201
62
-
1,263
765
-
2023
£
1,139
2023
£
12,016
300
21,068
33,384		 Total
£
368,405
14,896
(309)
382,992
311,561
6,477
(212)
317,826
65,166
56,844
2022
£
711
2022
£
37,062
-
12,873
49,935

THE ROSEMOUNT HOME CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023

17 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Trade creditors
Other creditors
Other taxation and social security
Accruals		 2023
£
12,596
1,597
3,526
53,117
70,836		 2022
£
13,763
875
2,130
37,731
54,499

18 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to statement of financial activities in respect of defined contribution schemes was £4,900 (2022 - £3,071).

At the balance sheet date contributions payable of £1,568 (2022 - £875) were outstanding.

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 June Incoming Resources At 31 May
2022 resources expended 2023
£ £ £ £
General funds 112,437 590,649 (570,815) 132,271
Previous year: At 1 June Incoming Resources At 31 May
2021 resources expended 2022
£ £ £ £
General funds 137,105 498,509 (523,177) 112,437
Analysis of net assets between funds
Unrestricted
Unrestricted
funds funds
2023 2022
£ £
Fund balances at 31 May 2023 are represented by:
Tangible assets 65,166 56,844
Current assets/(liabilities) 67,105 55,593
132,271 112,437

20 Analysis of net assets between funds

THE ROSEMOUNT HOME CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023

21 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years
In over five years		 2023
£
15,854
63,418
90,000
169,272		 2022
£
16,031
60,000
105,000
181,031

22 Related party transactions

There were no other transactions made to or from any related parties (2022 - none).

23 Indemnity insurance

The charity paid for the insurance premiums to indemnify trustees and senior staff from any loss arising from neglect or defaults of trustees or staff and any consequent loss.

24
Cash generated from operations
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Loss on disposal of tangible fixed assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in stocks
Decrease/(increase) in debtors
Increase in creditors
Cash generated from/(absorbed by) operations		 2023
£
19,834
(373)
77
6,477
(428)
16,551
16,337
58,475		 2022
£
(24,668)
(12)
618
10,457
166
(20,857)
9,685
(24,611)

25 Analysis of changes in net funds

The charity had no material debt during the year.