2024-01-31-accounts

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Bethany Homestead Financial Statements Year Ended 31* January 2024

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Charity registration number: 1160448 Charitable Incorporated Organisation number: CE003004

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Bethany Homestead Financial Statements Year Ended 31* January 2024

Contents

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Charity Reference and Administrative Details

Trustees’ Annual Report Independent Auditors Report.[of][Financial][Activities] _[Statement] Balance Sheet Statement of Cash Flows Notes to the Financial Statements

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Page 1 2-5 6-8 9 10 11 12-23

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Bethany Homestead

Charity Reference and Administrative Details Year Ended 31* January 2024

Charitable Incorporated Organisation number 1160448

Charitable Incorporated company number: CE003004

Trustees			M P Buckby
			VW Griffiths FCA
			R Lambert
			L Preen
			M Smith
			J Stapleton BA (Arch) MCIOB MBIAT
			J H Wiggins
			RevAWAvery (resigned 20 February2024)
			D M Avery (resigned 20 February2024)		,
			FTG Bird FCA (resigned 9 January 2024)
ChairofTrustees			Interim Chair—V W	Griffiths FCA
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Registered office			Kingsley Road
			Northampton
			NN2 7BP
Auditor			ShawGibbs (Audit)	Limited, StatutoryAuditor
	.		Eagle House
			28 Billing Road
			Northampton
			NN1 5Ad
Solicitor			Borneo MartellTurnerCoulston
			29 Billing Road
			Northampton
			NN1 5DQ
Bankers			National Westminster Bank plc
			41 The Drapery
			Northampton
			NN12EY

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. Bethany Homestead Trustees’ Annual Report Year Ended 31* January 2024

The Trustees present their report and the audited financial statements of the charity for the year ended 31* January 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

Trustees of the charity

The trustees who have served during the year and since the year end were as follows:

V W Griffiths FCA M P Buckby L Preen R Lambert J E Stapleton M Smith Rev A W Avery (resigned 20 February 2024) = =# JH Wiggins D M Avery (resigned 20 February 2024) . F T G Bird (resigned 9 January 2024)

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Objectives and activities . The Object of the charity is the relief in need of sick or elderly persons belonging to or connected with the Baptist, Congregational or United Reformed Churches in Northampton and the surrounding area within a Christian Care complex and of such other sick or elderly persons not belonging to or connected to the afore mentioned churches in such ways as the Trustees may from time to time determine.

Public benefit statement

In setting the objectives and planning the activities the trustees have given careful consideration to the Charity Commission's general guidance on public benefit. As the charity's Object is the care of the sick and elderly we believe this is evidently for public benefit.

Strategic Report

Achievements and performance The Residential Care Home is registered by the Care Quality Commission (CQC) for 38 beds. | Theof this Managementyear. Occupancyplans forof 95%the 33 occupancyCottages butwas actualaroundoccupancy93%, mainly was somewhatdue to the belowtime required this targetto complete for most | refurbishments on a change of occupant. | Financial review (including reserves policy)

The financial results for the current year have been adversely affected by an exceptional level of costs on consultancy fees, in excess of £200,000. The consultants were initially engaged (early in 2023) to carry out an audit in the form employed by CQC, but as this brought to light further significant issues the consultants were then engaged on a contract to provide support to the charity to bring in improvements leading to full compliance with CQC requirements. The effect on reserves is noted below. In the course of this consultancy the performance of the then Registered Manager was deemed inadequate, and a new Registered Manager came into post in April 2024.

The result for the year showed a deficit on the year of £358,126 (2023 — surplus of £46,268) on Unrestricted Funds and a surplus for the year of £4,605 (2023 — £1,278) on Restricted Funds. This deficit on unrestricted funds is a result of the exceptional consultancy and some other costs sustained in the year.

As shown in the SOFA, Bethany did not receive in this year any further Government grants, particularly in relation to PPE and infection control.

The Appeal Fund, which supported the development of the new Doddridge Row cottages (completed in 2015), was finally cleared in July 2021 following a special appeal which was generously supported to raise the £20,000 approx. required. A new Appeal fund has been opened to accumulate donations towards further development when funds and time permit.

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Bethany Homestead Trustees’ Annual Report Year Ended 31* January 2024

The Trustees are grateful for all personal and charitable donations, legacies, in memory gifts and fundraising activities which produced £ 31,716 (2023 - £55,248) for the year.

The Trustees regularly consider the risks to which the Homestead is exposed and are satisfied that processes exist and are regularly monitored which identify such risks and the means of managing them.

The Trustees also regularly review the level of reserves in the light of the expected levels of revenue. The cash reserves have been severely depleted due to the consultancy costs etc. but that cash outflow was mitigated to a considerable extent by the sale of the charity's investment property in Kingsley Road. Having now brought the consultancy contract to a close, the trustees believe that with improved occupancy the cash reserves can be rebuilt to the level at which they stood at the end of the pandemic.

The whole of the Charity’s operations are continually monitored to identify risks and to ensure the comprehensive Risk Assessment, which has been completed in accordance with the Charity Commission recommendations, meets the Charity’s requirements.

The total funds of the Homestead amount to £4,062,509 at 31 January 2024.

The unrestricted funds of the Homestead totalled £4,007,317 of which £3,500,993 relates to the Property Revaluation Reserve.

General Reserves total £459,544 and are regarded by the Trustees as an acceptable reserve against contingencies. Designated funds of £46,780 remain earmarked for future property improvement projects.

The Restricted Funds comprise a balance of £55,192, being £9,491 of Friends of Bethany funds, £22,830 for the Chapel Maintenance Fund, £10,000 for Rodhouse Row redevelopment and a balance of £12,871 on the new Appeal Fund.

Plans for future periods

With the completion of the new Doddridge Row a few years ago there are no immediate plans for further property redevelopment. However, the Trustees have been considering how to effect a major refurbishment or rebuild of Rodhouse Row.

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Going Concern

We reported in the last four years’ accounts on the adverse CQC report delivered to the trustees in September 2019 and made public early in 2020. Remedial action was taken and Bethany received verbal indications that we had done what was required. However, the CQC madea return visit in May 2021 and raised other points requiring improvement, so the Care Manager and Trustees have been engaged in a further round of improvement work (at considerable cost) to adhere to the CQC agenda, taking us away from longer term strategic aims for the improvement of facilities for the Bethany residents.

The latest CQC visit in July 2022 (report issued December 2022) confirmed that the remedial work undertaken had dealt with the majority of issues from the previous two visits, but attention was drawn to a number of new areas where the inspectors felt insufficient progress had been made. Accordingly, the CQC rated as “requires improvement” the category of “Is the service safe?” and “inadequate” in the area of “Is the service well-led?”.

An appeal was lodged but ignored. The Care Manager and Trustees are therefore engaged on another round of improvement work and monthly reporting to CQC.

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Bethany Homestead Trustees’ Annual Report Year Ended 31* January 2024

At the recommendation of West Northamptonshire Council consultants were engaged in February 2023 to carry out an in-depth review of Bethany’s compliance with CQC requirements. Further serious deficiencies came to light and the consultants were therefore engaged on a rolling contract to assist management in making substantial improvements. At the date of this report that consultancy has just ended (31 May 2024) and the improvement programme continues under the control of the new Registered Manager and the trustees,

The Trustees consider that the threat of CQC disruption or sanction (or failure to recategorise the service following improvement) is the main risk to Bethany being unable to continue with the Care Home activity on the current basis. The Trustees believe that the ongoing improvement work has reduced that risk significantly, a view confirmed by West Northants Council. However, should the Care Home activity cease, Bethany would have funds to apply to its charitable objects in a different way.

Fortunately, Bethany has been able to cover the exceptional consultancy costs from its financial reserves, and latest projections show a return to a positive cash flow in the second half of 2024. The Trustees therefore consider there is no major threat to its going concern status from the effects of the financial pressures of recent years. However, it will be important to stabilise resident numbers as quickly as possible to recover the financial downturns of 2021 to 2023 and to achieve our budgets for 2024/25.

Structure, governance and management

The Trustees meetings, in view of matters noted above, are currently on a regular monthly, basis.

Operational control is mainly vested in the Management Committee. The Finance sub-committee is now disbanded and its remit has reverted to the Trustees. The Property sub-committee meets regularly and reports to both the Management Committee and to the Trustees.

Staffing matters are now delegated to the Care Home Manager and the HR Manager who report to the Management Committee.

Senior management remuneration is reviewed annually, in the same way as remuneration of all other employees, by the Management Committee making recommendations to the Board. Non-salary terms and conditions for all employees are standard. Salary levels are reviewed with regard to market rates, inflation and affordability.

The General Committee comprising delegates from each of the covenanting churches has not met for over four years and alternative arrangements have been put in place to scrutinise and decide on applications for cottages etc.

Trustees are elected following nominations by covenanting churches. A maximum of twenty is prescribed in the original Trust Deed and this total should fairly represent the participating denominations. New Trustees must be appointed by a resolution passed at a properly convened meeting of the Charity’s Trustees. The welcome pack includes a copy of the governing trust deed and a copy of the Charity Commission’s guidance ‘The Essential Trustee: What You Need To Know’ or signposting to the online version. The Charitable Incorporated Organisation is governed by its constitution, dated 11 February 2015. Having received Charity Commission and Care Quality Commission approval. the activities of the then unincorporated charity registered at reference 203520 were transferred to this ClO, Charity Registration 1160448, on 11 February 2016. The registered charity 203520 has now been closed and deleted from the Charity Commission register.

The management and staff have again made an enormous contribution to the caring and successful running of the Homestead and the Trustees extend their sincere thanks to all who have participated.

The Trustees recognise the continued work of Bethany’s dedicated team of voluntary helpers and extend their sincere appreciation to all its many supporters. It is not possible to place a value on the many hours of service so freely given.

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Bethany Homestead Trustees’ Annual Report Year Ended 31* January 2024

Funds held as Custodian Trustee on behalf of others

The charity holds residents’ monies on their behalf as a custodian trustee. Most of this is deposited in a designated Nat West bank account with a small balance held as-cash for current individual requirements. ‘These funds are recorded and controlled by Senior Management under the supervision of the Treasurer. On 31 January 2024 the charity was acting as custodian trustee for £4,805 represented by balances at the Nat West and in cash.

Fund-raising Standards

The Charity raises funds from the public. It does not use professional fundraisers or commercial participators but relies on trustees, staff and volunteers to carry out any fund-raising activities. It follows the Charity Commission Guidance “Charity fundraising: a guide to trustee duties (CC20)” when undertaking fund raising. The trustees are not aware of any failures to comply with this standard and monitor all fund-raising activities undertaken by the Charity.

When undertaking fund raising the Charity has a duty to protect vulnerable people and other members of the public from the following behaviours:

• e unreasonable intrusion on a person's privacy;

• ° unreasonable persistent approaches for the purpose of soliciting or otherwise procuring money or other property on behalf of the charity;

• e placing undue pressure on a person to give money or other property.

The Trustees have ensured that the Charity’s fund-raising activities are undertaken without resorting to such behaviours.

Trustees’ responsibilities

The trustees are responsible for preparing the Trustees’ Annual 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 & 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 period. In preparing these financial statements, the trustees are required to:

• ° select suitable accounting policies and then apply them consistently; ; e observe the methods and principles in the Charities SORP 2019 (FRS 102); ° make judgements and estimates that are reasonable and prudent;

• e state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. ,

The Trustees are responsible for keeping proper 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 report was approved by the trustees on 2% NOVE6GR 2024 and signed on their behalf by:

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Bethany Homestead Independent Auditor’s Report to the trustees of Bethany Homestead Year Ended 31% January 2024

Opinion

We have audited the financial statements of Bethany Homestead (the ‘charity’) for the year ended 31 January 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charity's affairs as at 31 January 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 requirements of the Charities Act 2011.

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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Bethany Homestead , " Independent Auditor’s Report to the trustees of Bethany Homestead Year Ended 31% January 2024 Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors 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 free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011 together with the Charities SORP (FRS102) 2019. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charity's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charity for fraud. The laws and regulations we considered in this context were Charity Commission regulations, GDPR, anti-fraud and bribery legislation, taxation legislation and employment legislation.

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Bethany Homestead Independent Auditor’s Report to the trustees of Bethany Homestead Year Ended 31% January 2024

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income. Our audit procedures to respond to these risks included enquiries of management, sample testing on the posting of journals, reviewing accounting estimates for biases, performing analytical procedures to identify any unusual or unexpected relationships, testing of income cut-off and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our | Report of the Independent Auditors.

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

Neathas (Await) inl

Shaw Gibbs (Audit) Limited, Statutory Auditor Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ

Date: 29 November 2024

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Statement of Financial Activities

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Bethany Homestead

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|||||||||| |---|---|---|---|---|---|---|---|---| |Year Ended|31st January 2024|.| |2024|2023| |Unrestricted|Restricted| |funds|funds|Total|Total| |Note|£|£|£|£| |Income|and|endowments|from:| |Donations|and|legacies|2|16,971|14,745|31,716|55,248| |Government|grants|(Covid-related)|3|-|-|(¢)|37,613| |Charitable|activities|4|1,936,649|1,936,649|1,750,479| |Other trading|activities|5|-|-|0|-| |Investments|6|4,989|4,989|6,719| |Total|income and endowments|1,958,609|14,745|1,973,354|1,850,059| |Expenditure|on:| |Raising|funds|-|-|-|-| |Charitable|activities|7|2,315,735|11,140|2,326,875|1,802,513| |Interest|payable|-|-|-|-| |Total|expenditure|2,315,735|11,140|2,326,875|1,802,513| |Net gains|on|investments|-|-|-|-| |Net income|(357,126)|3,605|(353,521)|47,546| |Transfers|between|funds|(1,000)|1,000|-|;|-| |Other recognised|gains/|(losses):| |Gains|on|revaluation|of fixed|assets|-|-|-|65,441| |Loss|on|disposal|of fixed|assets|-|-|-|-| |Net movement|in|funds|17|(358,126)|4,605|(353,521)|112,987| |Reconciliation|of funds:| |Total funds|brought forward|17|4,365,443|50,587|4,416,030|4,303,043| |Total funds|carried forward|17|4,007,317|55,192|4,062,509|4,416,030|

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All income and expenditure derive from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year.

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Bethany Homestead Balance Sheet

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Year Ended 31st January 2024

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||||||||| |---|---|---|---|---|---|---|---| |2024|2023| |£|£| |Note| |Fixed|assets| |Tangible|assets|-|13|4,022,462|3,960,776| |Investment|Property|13|0|240,441| |4,022,462|4,201,217| |Current|assets|;|.| |Debtors|14|51,923|45,845| |Cash|at|bank|and|in|hand|230,997|362,462| |282,920|408,307| |Creditors:|amounts|falling due|within|one year|15|(242,873)|(193,494)| |Net|current|assets|40,047|214,813| |Total|assets|less|current|liabilities|4,062,509|4,416,030| |Creditors:|amounts|falling|due|after more|than one year|-|-| |Net assets|4,062,509|4,416,030| |Charity|[Funds]|et|eee| |Restricted|funds|17|55,192|50,587| |Unrestricted|funds|17|459,544|752,229| |Designated|funds|17|46,780|46,780| |Revaluation|reserve|17|3,500,993|3,566,434| |Total|charity funds|17|4,062,509|4,416,030|

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The financial statements were approved and authorised for issue by the Boardon 2&NVEMRER

2024

Signed on behaif of the board of trustees

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Tribtee ~Twigeons

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V W Griffiths
Hon. Treasurer
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The notes on pages 12 to 23 form part of these financial statements.

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Bethany Homestead

Statement of Cash Flows

Year Ended 31st January 2024

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |:|2024|2023| |£|£| |Note| |Cash|flow from operating|activities|19|(304,133)|89,238| |Net|cash flow from|operating|activities|(304,133)|89,238| |Cash|flow from|investing|activities| |Payments|to|acquire|tangible|fixed|assets|(72,762)|-| |Received|from|sale|of investment|property|240,441|-| |Interest|received|4,989|1,119| |Rents|received|from|investment|properties|-|5,600| |Net|cash|flow from|investing|activities|172,668|6,719| |Cash|flow|from|financing|activities| |Receipts from|issue|of new|long|term|loans|-|-| |Repayment|of loans|-|-| |Interest|paid|-|.| |Net cash|flow from|financing|activities|-|-| |Net|increase|/|(decrease)|in|cash|and|cash|equivalents|(131,465)|95,957| |Cash|and|cash|equivalents|at|1st|February 2023|362,462|266,505| |Cash|and|cash|equivatents|at 31st January 2024|230,997|362,462| |Cash|and|cash|equivalents|consists|of:| |Cash|at|bank|and|in|hand|230,997|362,462| |Cash|and|cash|equivalents|at|31st January 2024|‘|230,997|362,462|

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Bethany Homestead

Notes to the Financial Statements

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Year Ended 31st January 2024

1 ‘Summary of significant accounting policies

(a) General information and basis of preparation

Bethany is a Charitable Incorporated Organisation registered in England. The address of the registered office is given in the charity information on page 1 of these financial statements.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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(b) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

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Transfers between funds are done in accordance with the charitable objects at the discretion of the trustees.

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a lével of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.

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Bethany Homestead Notes to the Financial Statements Year Ended 31st January 2024

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Donated facilities are included at their value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.

Capital grants received are netted off against related expenditure.

The charity receives income from the Social Services to fund some of its residents.

For legacies, entitlement is deemed to be the earlier of the charity being notified of an impending distribution or the legacy being received. In respect of notified legacies, the income is recognised when the amount can reasonably estimated and where receipt is probable.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Investment income is earned through holding assets for investment purposes such as shares and investment property. Income includes interest and rent. Interest income is recognised when received and rental income is recognised as the charity's right to receive payment is established.

(d) Expenditure recognition : All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

(e) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities on a basis consistent with use of the resources. Administrative costs have been directly allocated and other overheads have been allocated on the basis of income generated.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

The analysis of these costs is included in note 8.

(f) Tangible fixed assets -

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, except freehold property, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: Equipment, Fixtures and fittings 10% - 30% per annum on reducing balance Computer equipment - large items 10% - 30% per annum on reducing balance Computer equipment - small items , Written off to revenue in year of purchase Motor vehicles 25% straight line

The freehold land and buildings and improvements are not depreciated as, in the opinion of the Trustees, the residual value is not less than the carrying value in the accounts due to the nature of the property. The freehold land and buildings are revalued on a five year cycle by an independent valuer. A revaluation would be undertaken in intervening years should the prevailing conditions indicate a material change in value

14

Bethany Homestead

Notes to the Financial Statements

| | | | |

|

Year Ended 31st January 2024

(g) Investment properties

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in ‘net gains/(losses) on investments’ in the SoFA.

(h) Cash at bank and in hand

Included in cash at bank and in hand are amounts hetd within reserve accounts which bear interest. As these accounts grant instant access to the trustees, these short term, highly liquid investments have been included in cash at bank and in hand rather than being separately disclosed.

(i) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(j) Loans and and borrowings

(j) Loans and and borrowings : Loans and borrowings are initially recognised at the transaction price including transaction costs. : Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

(k) Concessionary loans

Concessionary loans are loans from third parties which are interest free or below market interest rates and are made to advance charitable purposes. Where the loan is repayable within one year, the loan is measured at cost, less impairment. Where the loan is repayable in more than one year, it is recognised at the amount received, with the carrying amount adjusted in subsequent years to reflect repayments and any accrued interest and adjusted if necessary for any impairment.

(I) Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

(m) Provisions

“

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

(n) Leases

Rentals payable and receivable under operating leases are charged to the SOFA ona straight line basis over the period of the lease.

(o) Employee benefits

The charity operates a defined contribution pension scheme for the benefit of its employees. Contributions are expensed as they become payable.

{

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15

Bethany Homestead

Notes to the Financial Statements

Year Ended 31st January 2024

(p) Tax

The charity meets the definition of a charitable company for UK Corporation Tax purposes and is therefore only chargeable to Corporation Tax if its funds are not applied for charitable purposes.

(q) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist of sufficient size or gravity to threaten the continued operation of the Charity. The trustees have considered the level of funds held and the expected level of income and expenditure for the 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. (Further information is given in the Trustees Annual Report)

2 Income from donations and legacies

Income fromfrom donations andand legacies
	2024	2023
	£	£
Personal donations	17,068	36,104
Gifts from outside organisations	-	-
Legacies	5,793	2,000
Church subscriptions	5,715	14;116
In memory	-	-
Chapel collections	3,140	3,028
Gift aid repayment	-	-
	31,716	55,248

Income from donations and legacies was £31,716 (2023 - £55,248) of which, £14,745 (2023 - £30,056) was attributable to restricted and £16,971 (2023 - £25,192) was attributable to unrestricted funds.

3 Income from Government grants

Government support for the effects of the Covid-19 pandemic ceased before the start of this financial year.

The charity has received a grant of £3,568 from West Northants Council towards the purchase of a new electronic recording system for care plans and care provision.

16

Bethany Homestead

.

Notes to the Financial Statements

Year Ended 31st January 2024

4	Income from charitable activities
		2024	2023
		£	£
	Care home
	Incomefrom residents and NCC	1,621,331	1,450,588
	Meals	14,361	18,780
	Sundry receipts	236	3,133
	Cottages
	Rents received	267,194	247,804
	Gas, electricity and water receipts	33,527	30,174
		1,936,649	1,750,479

All of the income from charitable activities was attributable to unrestricted funds.

5 Income from other trading activities

5	Income fromfrom other tradingtrading activities
		2024		2023
		£		£
	Fundraising events	-	:	.
6	Income from investments	2024		2023
		£		£
	Interest— deposits	4,989		1,119
	Rental income	-		5,600
		4,989		6,719

.

Income from investments was £4,989 (2023 - £6,197) all of which was attributed to unrestrcited funds.

7	Analysis ofexpenditure on charitable activities			2024
	.	Activities undertaken . directly	Support costs	Total
		£	£	£
	Care Home	1,853,025	189,052	2,042,077
	Cottages	199,669	73,989	273,658
		2,052,694	263,041	2,315,735

The above costs were attributable to unrestricted funds. In additon, costs of £11,141 were attributable to restricted funds, all directly attributable to charitable activites

Comparativefiguresforprevious year	Activitiesundertaken directly		Support costs	2023Total
	£		£	£
Care Home	1,327,574		162,106	1,489,680
Cottages	199,904	_	84,151	284,055
	1,527,478		246,257	1,773,735

The above costs were attributable to unrestricted funds. In additon, costs of £28,778 were attributable to restricted funds, of which £27,826 was directly attributable to charitable activites and £952 to support costs.

17

Bethany Homestead Notes to the Financial Statements Year Ended 31st January 2024

;

==> picture [467 x 427] intentionally omitted <==

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|||||||||| |---|---|---|---|---|---|---|---|---| |8|Allocation|of support|costs|2024| |Care Home|Cottages|Total| |Basis|of|allocation|£|£|£| |Adminstrative|staff,|maintenance,|utilities|etc.|Direct|134,411|63,191|197,602| |Governance|Income|22,615|4,469|27,084| |Human|resources|support|Income|22,778|4,501|27,279| |General|management|Income|9,248|1,828|11,076| |Total|189,052|73,989|263,041| |2023| |Comparative|figures|for previous year|Care Home|Cottages|Total| |£|£|£| |'|Basis|of|allocation| |Adminstrative|staff,|maintenance,|utilities|etc.|Direct|129,789|77,765|207,554| |Governance|Income|9,067|1,792|10,859| |Human|resources|support|Income|14,709|2,906|17,615| |General|management|Income|8,541|1,688|10,229| |Total|162,106|84,151|246,257| |9|Governance|costs|;| |2024|2023| |£|£| |Auditor's|remuneration|8,424|5,580| |CQC|Registration|fees|5,388|5,279| |Legal and|consultancy fees|13,272|-|;| |27,084|10,859| |10|Auditor’s|remuneration|;| |2024|2023| |£|£| |Fees|payable|to the|charity's|auditor for the|audit|of| |the|charity's|annual|accounts|8,424|5,580| |1|Trustees’|and|key management management|personnel|remuneration|and expenses expenses|,|

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1 Trustees’ and key management management personnel remuneration and expenses expenses

The trustees neither received nor waived any remuneration during the year (2023: £Nil) The trustees did not have any expenses reimbursed during the year (2023 - £Nil)

Key personnel remuneration via payroll during the year totalled £141,127 (2023: £91,998) The roles included are those of the Registered Manager and 2 Deputies.

Key management personnel remunerated via consultancy agreement - £134,000 Key management function is also provided by the Chair of Trustees’ and Treasurer on voluntary basis

|

c

18

Bethany Homestead Notes to the Financial Statements Year Ended 31st January 2024

‘

‘

;

12 Staff costs and employee benefits

The average monthly number of employees during the year was as follows:

	2024		2023
;	Number		Number
Charitable activities	71		67
Managementand administration	6		6
	77		73
The total staffcosts and employees benefits was as follows:
	2024		2023
	£		£
Wages and salaries	1,194,560		1,138,626
Termination costs	18,004		-
Social security	79,124		80,016
Defined contribution pension costs	19,882		20,786
Training	14,068	:	4,642
	1,325,638		1,244,070

One employee (2023: none) received total employee benefits (including Pay In Lieu of Notice and Compensation payment, but excluding employer pension costs) of more than £60,000, falling into the band £90,000 - £99,999.

The Termination payment was paid under a Compromise Agreement to secure the departure of the previous Registered Manager for inadequate performance. The full Termination payment shown above and the full 6 months PILON is charged in the wages costs for this year.

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,

19

Notes to the Financial Statements Year Ended 31st January 2024

Bethany Homestead

==> picture [515 x 240] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |13|.|Investment|Land and|Plantand|_‘ Fixtures and|Motor|Total| |Tangible fixed assets|properties|-|buildings|machinery|fittings|vehicles| |£|£|£|£|£|£| |Cost|or|valuation:| |At|1st|February 2023|240,441|3,908,658|17,685|297,911|10,000|4,474,695| |Additions|/|revaluation|-|17,639|39,987|15,136|-|72,762| |Disposals|(240,441)|-|-|-|-|(240,441)| |At|31st January 2024|0|°3,926,297|57,672|313,047|10,000|4,307,016| |Depreciation:|;| |At|1st|February 2023|-|-|17,685|245,793|10,000|273,478| |Charge|for|the year|-|-|11,076|-|11,076| |Eliminated|on|disposals|-|-|-|-|-| |At|31st January 2024|-|-|17,685|256,869|10,000|284,554| |Net|book|value:|‘| |At 31st January 2024|0|3,926,297|39,987|56,178|-|4,022,462| |At|31st January 2023|240,441|3,908,656|-|52,118|-|4,201,217|

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For each revalued class of tangible fixed assets, the charity is meant to disclose the carrying amount that would have been recognised had the assets been carried under the cost model. This disclosure is not possible as the revaluation reserve arose from the inclusion of freehold land and buildings and fixtures and fittings in the financial statements for the year ended 31 January 1995. Prior to this expenditure was written off in the year in which it was incurred. Thus there is no cost data available for this disclosure.

The last independent, professional valuation was undertaken at 5 February 2019. The valuation was undertaken by A Boulter, FRICS . The Care Home and the Cottages have been treated as Operational Properties and were then valued at £3,850,000 on the basis of Existing Use Value.

14 Debtors

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|||||||| |---|---|---|---|---|---|---| |2024|2023| |£|£| |Debtors|and|prepayments|51,923|45,845| |15|Creditors:|amounts|falling|due within|one|year| |;|2024|2023| |£|£| |Bank|loans|and|overdrafts|-|-| |Creditors|175,817|144,071| |Accruals|50,012|35,210| |Tax and|social|security|17,044|14,213| |242,873|193,494|

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Previous Bank borrowing was secured by a 1st legal charge on 55A Kingsley Road (aka Hawtin Close) and its associated assets. In the year under review there has been no bank borrowing.

20

Bethany Homestead

;

Notes to the Financial Statements

.

|

;

Year Ended 31st January 2024

16 Leases

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

.

					2024		2023
					£		£
Notlaterthanoneyear					16,934		20,112
Laterthan one and not later than five years					-		16,934
Laterthan five years					:
					16,934		37,046	;
Operating lease payments are	recognised as expenditureasthey				fall due.	.
Fund reconciliation
				)
Unrestricted funds
		Balance at 4 Feb2023	Income	.	Expenditure	Transfers	Gains/ (losses)	Balance at 31 Jan2024
		£		£	£	£	£	£
General Fund		752,229	1,958,609		(2,315,735)	64,441	-	459,544
Rodhouse Rowredevelopment	-	46,780		-	-			46,780
Revaluation reserve		3,566,434		-	-	(65,441)		3,500,993
		4,365,443	1958,609		(2,315,735)	(1,000)	-	4,007,317
Restricted funds
		Balance at 4 Feb2023	Income		. Expenditure	Transfers		Balance at 31 Jan2024
		£		£	£	£		£
Chapel maintenance		18,690	3,140			1,000		22,830
Friends ofBethany		11,955	8,676		(11,140)			9,491
Rodhouse Rowredevelopment		10,000						10,000
Appeal Fund :		9,942	2,929					12,871
		50,587	14,745		(11,140)	1,000		55,192

17 ~~‘ Fund reconciliation

,

Fund descriptions

a) Unrestricted funds

General fund — these are unrestricted funds that are available to be spent for any purposes of the charity.

Consideration of a project to redevelop the Rodhouse Row properties has started and the trustees allocated £50,000 from the legacy received from the late Mr F Garnett towards this. To date, £3,220 has been spent on consultancy fees.

Revaluation Reserve fund — this has arisen from the inclusion of freehold land and building and fixtures and fittings in the financial statements for the year ended 31 January 1995 at a valuation and subsequent revaluations.

b) Restricted funds

Chapel maintenance — this is a fund being accumulated for the specific purpose of maintaining the Chapel. Starting in 2012, £1,000 per annum is to be transferred to it from the General Fund.

Friends of Bethany fund represents income from fundraising activities, the proceeds of which are used for direct charitable purposes at the discretion of the Friends of Bethany committee, which is separate from the trustees.

21

Bethany Homestead Notes to the Financial Statements Year Ended 31st January 2024

17 _ b) Restricted funds - continued

Consideration of a project to redevelop the Rodhouse Row properties has started and a donation towards this project has been received. The trustees have also allocated part of the funds from the legacy received in 2022 into a designated fund towards this project (see note on designated funds above).

Appeal Fund — some donors continue to give to build up a fund for future development.

==> picture [449 x 98] intentionally omitted <==

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||||||||| |---|---|---|---|---|---|---|---| |18|Analysis|of net assets|between funds| |Unrestricted|Restricted| |funds|funds|Total| |£|£|£| |Fixed|assets|4,022,461|:|-|4,022,461| |Cash|and|other|current|assets|227,729|55,192|282,921| |Current|liabilities|(242,873)|-|(242,873)| |Total|4,007,317|55,192|4,062,509|

----- End of picture text -----

19 Reconciliation of net income to net cash flow from operating activities ,

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----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |,|:|2024|2023| |£|£| |Net|income|/|(deficit)|for the year|(353,521)|47,546| |Rents|received from|investment|properties|-|(5,600)| |Interest|receivable|(4,989)|(1,119)| |Interest|payable|-|-| |Fixed|asset|revaluation|-|-| |Depreciation|and|impairment|of tangible|fixed|assets|11,076|10,229| |Loss|on|disposal|of tangible|fixed|assets|-|-| |Decrease/|(Increase)|in debtors|(6,078)|15,205| |Increase|/|(Decrease)|in|creditors|49,379|22,977| |Net cash flow from|operating|activities|(304,133)|89,238| |20|~=— Pensions|and other|post-retirement|benefits|

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Defined contribution pension plans:

The charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £19,882 (2023 - £20,786).

21 Funds held as a Custodian Trustee

Resident monies totalling £4,806 are held by the charity acting as a custodian Trustee.

22 ~_ Related party transactions

Donations received directly from trustees during the year totalled £ nil (2023 - £nil).

Donations from trustees as part of general fund-raising or donations organised through supporting churches cannot be separately identified. For trustees donated services see note 23 below.

23 Donated services

:

Volunteers (including trustees) provide services to Bethany in many forms including gardening, fundraising, entertainments, trolley service, mid-week services and arranging excursions. Most committee positions are fulfilled by volunteers as well.

:

22

Bethany Homestead

Notes to the Financial Statements Year Ended 31st January 2024

|

Comparative year information

24 Statement of Financial Activities

Year Ended 31st January 2023

==> picture [437 x 406] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2023|2022| |Unrestricted|Restricted| |funds|funds|Total|Total| |Note|£|£|.|£| |Income|and|endowments|from:| |Donations|and|legacies|25,192|30,056|55,248|52,743| |Government|grants|(Covid-related)|37,613|-|37,613|64,795| |Charitable|activities|1,750,479|1,750,479|1,552,430| |Other|trading|activities|-|-|-|-| |Investments|6,719|6,719|8,387| |Total|income and endowments|1,820,003|30,056|1,850,059|1,678,355| |Expenditure|on:| |Raising funds|-|-|-|-| |Charitable|activities|1,773,735|28,778|1,802,513|1,676,508| |Interest|payable|-|-|-|-| |Total|expenditure|1,773,735|28,778|1,802,513|1,676,508| |Net|gains|on|investments|-|-|-|-| |Net|income|46,268|1,278|47,546|1,847| |Transfers|between|funds|(1,001)|1,001|-|-| |-|Other recognised|gains|/|(losses):| |Gains|on|revaluation|of fixed|assets|65,441|-|65,441|-| |Loss|on|disposal|of fixed|assets|-|-|-|-| |Net|movement|in|funds|110,708|2,279|112,987|1,847| |Reconciliation|of funds:| |Total|funds|brought forward|4,254,735|48,308|4,303,043|4,301,196| |Total funds carried forward|4,365,443|50,587|4,416,030|4,303,043|

----- End of picture text -----

;

23

Bethany Homestead Notes to the Financial Statements Year Ended 31st January 2024

Comparative year information

25 Fund reconciliation

Unrestricted funds

|

.

Unrestricted funds
	Balance at 4 Feb2022	Income	. Expenditure	Transfers	Gains/ (losses)	Balance at 31 Jan2023
	£	£	£	£	£	£
General Fund	706,962	1,820,003	(1,773,735)	(1,001)	-	752,229
Rodhouse Row redevelopment	46,780	-	-	-	-	46,780
Revaluation reserve	3,500,993	-	-	-	65,441	3,566,434
	4,254,735	1,820,003	(1,773,735)	(1,001)	65,441	4,365,443
Restrictedfunds
	Balance at 4 Feb2022	Income	: Expenditure	Transfers		Balance at 31 Jan2023
	£	£	£	£		£
Chapel maintenance	15,614	3,028	(952)	1,000		18,690
Friends ofBethany	17,106	22,675	(27,826)			11,955
Rodhouse Row redevelopment	10,000	-	-	-		10,000
Appeal Fund	5,588	4,354	-	-		9,942
	48,308	30,057	(28,778)	1,000		50,587