SHIRLEY OLD PEOPLE'S WELFARE COMMirrEE LIMITED (a Company Limited by Guarantee) Trustees, Report and Finanaal Statements for the year ended 31 March 2023 Registered Company number 09364967 Registered Charity number 1160863 Nl $￿FTFFRV￿ 07111n023 COMPANIES HOUSE A11 Shirley Old People's Welf2r¢ Con)mittee Limited FIj￿claI Statements for the year ended 31 March 2023 Contents Page eport ofthe T￿￿ee5 ststement of TfUstee￿ resFh)ns*ilities Report of the Independent Examrner io Statement of Flnantial Activities {iftcorporatyn8 an IrKome & Exwditure Acctyjntl li 8alance sheet 12 ststement of cash flows 13 Principal Accountrn8 Polioes 14-16 Notes to thefinancTral $￿emeNts 17-24 Shirley Old People's Welfaff Conwnittee Limited Financial Statrments for the year end&1 31 March 2023 Report of the Trustees The Trustees are pleased to present their annual Trustee￿ report together with the financial statements of the charitsble company for the year ended 31 March 2023. whKh are a150 prepared to meet the requirements for a directors. report and accounts for c￿npanIeS Art purposes. The financial statements comply with the Charsties Act 201L the Companies Act 2006, the Memorandum and Artides of Association. and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to tharities preparing their accounts in accordance with the Financial Reporbng Standard applicable in the UK and Republic of Ireland IFRS1021 (updated l January 20191. OBJEcfNES AND AcnvmES The main objective of the charity as set out in the 8overntn8 dowmenL is in the public benefit'to provide and maintain ? care home forthe elderff. The home is a substantial building situated in its own quietgrounds within reasonable walking distance of shopping amenities at Shirley. Solihull, West Midlands. The current number of residents who can be accommodated is twenty and the prlncipal source of funding ￿MainS the fees ￿ld by or on behalfof. the residents. The trustees are not only concerned with the fabric and surroundings of the home but also in providing a "home from home" environment for its residents. This can onty be achieved by the bèst efforts of the Manager and staff. The charity is fortunate that the home is staffed by a conscientK)us group of who do their utmostto deliver the.home from home" environment. There have been no d￿nge5 during the year in the main objective of the charity. The board of trustees have complied with the duty of the Charities Art 2011 to have due regard to the Charitycommission's published general and relevant sub-sector guidance concerning the operation of the Public Benefit fequirement under that acL ri12022- Marth 2023 The Managernent corTrmittee continued to Meet m¢mthly oft a face-to-face basis and alsts to hold quarterly meetings with our accountant to di5CU55 the financial and budgetsry aspects of running the home to ensure we have an efficient operation. We £￿tinUe to have six voluntary t￿￿tee$ and alttrK)ugh we are actively seeking to increase our numbers. it is proving difficulL Following the Covid pandemic. we were pleased to be able to resume nornwl artlvities Wlthin the home. visitors and entertaine￿ and animal friends were welcomed back Sbirley Old People's Welfate COM￿ltte¢ Lin)ited Financial Statements for the year eDded 31 Marcb 2023 Report of the trustees (continued) Our ￿sidentS have enjoyed daity stimulating and entertaining Sessio￿ arranged ￿ our in-house artivities coordinatOT. Other staff members and the Friend5. of Elizabeth trlouse. In June 2022, Elizabeth House celebrated the late Queen's Pl*inum Jubilee with te? and entertainers in the garden. Families. friends and neighbours were invited. and a good time was had by all. In October 2022, we were delighted tt> wesent a long seThice award for 25 years of unbroken service to one of our carers. Over the lastyear we have been able to carry (xrt maintenance to Elizabeth House. both intemally and extemally. Havin8 obtained the necessary planning perniission to improve the home's frontage from the local countil. building work to extend the entrance area to the home was carried out. The re5uk has given Us a much larger foyer with a ￿ePtion desk: the removal of some internal walls elimin*ed a narrow corridor making movement atound that part of the home muth easier for residents and staff alike. Our in-house laundry was refurbished with MO￿ efficient ènd modern machine5. Space is always at a premium in the home. so we have installed a loft ladder to give easler access to a la￿e. unused attic and installed lightin& hoping eventually to be able to extend our office and storage space into it. We We￿ very pleased to be awanled a grant from the Baron Davenport Four•dation whth enabled us to replace the armchairs in our residenw lounge. Many ofthe rooms and public areas of the home have been refitted l improved as they have become available. The tfU5tees have undertaken an on8oinÉ prograrnrne to imwove OUF marketin& our website ènd our bid writing. We are working with a marketing expert. a web-site de￿Ztier and a bid writer to help us achieve these goals. We always hope to achieve maximum occupancy within Elizabeth House but. due to the ages of our residents. we occasionally have empr¥ roorns. Thanks to the continuation of financial controls and the constantmonitoring of them. given the Very difficult fiscal sitvation over this twel¥e-month period. we have had a satisfartory year. Shirley Old Peopk's Welfate Committee Lin)ited Financial Statements for the year ended 31 March 2023 Report of the trustees (continued) FINAIKIAL REV Income for the 202V23 financial year amounted to £863,4411202V22: £781,387) which the Trustees have concluded is a positive result and represents higher than expected occupancy throughout much of the year. It a150 suggests that families are now feeling more comfortable admitting their loved ones Into a care home with the risks of the Covid-19 pandemic having waned significantly. Income from residents. fees increased from £684.120 last year to £832,325 in this reportin8 period. However. much of the increase in fees is also resultant of a tough decision to increase room rates to reflect the continued increase in heating and lighting costs, another substantial increase to the national minimum wage year on year and last but certainly not least, the cost of living crisis which has increased operating costs in a number of areas including the cost of food and repairs and maintenance to the building. The charity is grateful to fvnders including Baron Davenport for their continued support to the home. Totsl grants and donations received this year amotjnt to £8,952 (2021122: £97.2541. Expenditure for the year amounted to £868.641 {202V22: £749.853}. Notable expenditure includes staffing costs of £612,015 and premises costs totaling £60,494. A full breakdown of expenditure is induded on pages 18 and 19 of these accounts. At the end of the financial year, reserves decreased slightly to £377.073 12021122: £382.2731. This is mainly as a result of significant repair and maintenance costs incurred durin8 the year which are unavoidable in an ageing building. Agency fee5 were also significantly higher than expected which is partly due to nationwide issues effecting the care industry and its ability to retain stsff. RESERVES POUCY It is the policy of the Charity to maintain separate reserve fund5 for specific purposes. Tangible fixed a55ets. which indude the freehold property. fixtures. f￿ing5 and equipment. amount to £255,210 and are not regarded as part of the reserves available for distribution. The general reserve is maintsined to match financial commitments and overheads to cover fluctuations in income during the year. which provides a bufferfor uninterruptedservices. Shirley Old People's Welfare Comn)ittee Limited Fitwicial StsteDThts for the year ended 31 Marth 2023 Report of the trustees (continued) As at 31 March 2023 free reserves. bein8 un-restricted funds le5sfixed assets, amounted to £120.112 (2021122: £173.2421. It is the Trustee< policyto maintain free reserves equNalentto between 3 and 6 months core running costs which amounts to around £70k per Month or £420k for 6 months. which IS Within the ag￿ed policy. The current level of reseryes does not meet the policy but this is an a￿3 of priorty fw the Twstees in the coming financial year(s). FUTURE PLAt4S The recent improvements that have beer) made to Elizabeth House have proved to be invaluable. The extended dining room and entrance area can be combined to make an extra- large space which has been used for entertaining our residents. welcoming guests. even dancing on occasion. The trustees continue to pursue the plans to extend our residents, lounge to ensure their comfort and safety. We have consulted an architect and after much discu55ion, plans were drawn up and submitted to the local council for approval. this has now been granted. The trustees are now working with a professional bid writer to compile a list of possible sources of funding for the project. Given the rapidly rising costs generally but within the construction industry particularly. our funding needs are increasing but we hope to acquire finances within the not too distant future. An account has been set up with Give as you Live. a website that donates to charities whenever people shop through them, the trustees hope to be able to use monies raised this way to pay for smaller projects. replacement thermostatic valves on all the radiators. extra insulation. existing fluorescent lighting with LED replacements etc. The Friends of Elizabeth House continue to raise funds to pay for the entertainers l animal owners who bring their skills to the home. They also arrange coffee mornings and events in the Barden to which friends and neighbours are invited to engender a community spirit wlthin the area. As a not-for-profit charity, Elizabeth House is reliant on the generosity and kindness of outside trusts and fund raisers to be able to maintain standards within the home and the trustees are very aware of the debt of gratitude owed to these generous benefartors. Shirley Old People's Welfare CoDimitte¢ FinanciaL Ststements for the year ended 31 March 2023 Report of the trustees (continued) SThUCTURE. GOVERNANCE AND WNAGEMENT GoveYnln8 Oo¢ument The Charitsble Company Is governed by its Memorandum and Artides of As%Kiation. The charity was incorporated on 22 December 2014 and was regiSte￿d as a charity on 12 March 2015. New Trustees are recruited at the invitation of the current trustees and are appolnted as Trustees when such appointrnent has been approved by existing Trustees. No limit is placed upon the period ot trusteeship once a trustee has been appointed. The charity is actively seeking to recruit new trustees. Inductlan and tralnkng of fiew tn￿￿e5 providedwtrthall necessary inf0m￿1)n*￿th enatle them toprQpe￿fvIr￿l theirfole as trustees. Man*8ement stry¢lure The activitles of the charityire steered by the board of trustees and executed and administered by the senior management team. Regular meetings take place between the key management personnel and the Trustee board which are officially minuted and recorded Confidentially on file. Arrangementsfor setting payfof key managementpersonnel a￿rnade bytheTTUStee board andwhere necessarywith the professional support and recommendation of HR consultants. Annual benchmarking is used to help determine decisions being made in relation to all staff remuneratlon. Shirley Old People's Welfare Committee Limited Financial Ststements for the year ended 31 March 2023 Report of the trustees (continued) REFERENCE AND ADMINisfRATIVE INFORMATIOPI Re8lstered name: 'Shirley Old People's Welfare Committee Lirnite(I' is the name under whith the charity is registered. although it is known locally a5 'Elizabeth House,. Rewtered Company wmber 09364967 1160863 TrusteeslDirectors: GRWard FEWard C D McNidder MAMoss SM Dyer (appointed 11 January 20221 PR Dyer (appointed 11 January 2022) Joanne Clarke- Care Home Manage Natasha Grinnell- Deputy Care Home Manager Elizabeth House 77 Elizabeth Grove West Midlands B90 38X l•Nlependent Examiner. Karen Hanlan Independent Examiner Limited I Saracen Close Ettington CV37 7SZ 8ankw5: Uoyds Bank Pk PO Box i(KX) Andover BXIILT Approved by the Board ènd signed on its behalf bv". Carol McNidder Treosurer L￿. 2511012023 Shirley Old Pcople's Welfar¢ Committee Limited Financial Statements for tbe year ended 31 March 2023 Statement of Trustees. responsibilities TheTrustees are required to prepare financial ststements for each financial year wh￿h give a true and fair view of the State of the affair5 of the charitable company and of the surplus or deficit incurred by the charitable companyfor thatyear. In FYeparir* thosefinancial ststementsthe trustees are required to.. select suitable accounting policies and then apply them consistently. make juilgments and estimates that are reasonable and pr￿en[ state whether applitable UK accounting standards have been followed. subject to any material departures disclosed and explained in the accounts.- and prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charitable company will continue to extSt. The Trustees have overall responsibility for en5urin8 that the charitable company has an appropriate system of t<>ntrols financial and otherwise. The Trustee5 are responsible for keeping proper accounting records which dixbse with reasonable accuracy, at any time, the financial position of the charitable company and to enable them to ensure that the finanoal statements Comp￿ with the Companies Art 2006. They are also responsible for safeguarding the assets of the charitable company and hence for takin8 reasonable step5 for the prevention and detection of fraud and other irregularitie Shirley Old People's Welfare Committee Limited Financial StstenMts for the year ended 31 March 2023 Inde endent Examinerfs Report to the Trnstees of Shirley Old People's I rewt to the charity tru5tee5 on my Èxarnination ofthe acC0th￿0fthe Company for thè year ended 31 March 2023 which are get out on pa8e$ 11 to 24. Responslbilhle$4nd basts of reyt As the tharity trustee5 of the Company {3nd also its direttors for the pufp05e5 of company Iwl you are responsible for the preparation of the accounts in accordan￿ with the requirements of the Companies Att 2006 I'the 2006 A￿1. Having 5ati5fied myself that the ar￿unts of the Company are not required to be audited under Part 16 of the 2006 Art and a￿ eli8ible for ￿￿epende1)t eXamInatM￿. I report in respect of my examinatKM of your chariVs accounts as tarried out vnder stttK•n 145 of the Charities Act 2011 I'the 2011 ACYI. In carrying out my examination I have followed the Directio￿ eiven by the Charity Commission under sertion 145151{bl ofthe 2011 Sinte the Companvs gross income exceeded £250,rA*) your exaffllner must be a mefflber of a body listed in secti1￿ 145 of the 2011 Act. I confim) that l am qualified to undertake the examination because l am a member of the Institute of Chartered Act￿Tr￿nts in £ngJand and Wa￿, which *s one of the listed bodie I have completed my examination. I ctMfrn th* no matters come to my att•rtion in connettion with the examination giving me cause to believe: 11 atcountlng records were not kept in re4*¢t oftr* Corfwa5 re4ulred tyseclion 386 of the 21x6 Act.. or 2) the accounts do not accord with those rerords: OT 3) the xcounts do notwmptywith the xcountXl8requwwf*nts ofsetth)n 3% Dfthe 2(K6Adotherthan v wuirement that the accounts gi¥e a true and fair whKh 15 not a matter conside￿d as part of an independent examination: or 41 thè actounts ha¥e not been prepared in accwdance with ihe mèthods and prinoples of the Ststemeftt gf Recommended PrattKe for accounting and reFQrtTrng by tharities applicable to tharities preparing theiraccounts in accordance with the Finanoal Rewrtin8 Standard applicabbe inthe UK and Republic of Ireland IFRS1021. I have no concerns have ￿rne acTOSS M mattets ¢onnettion with the examlnation to whKh attention should be drawn in this report in orderto enable a understandingofthe acc(¥Jntsto be reathed. Ka￿n Hanlan. Member of Insti￿te of Chartered Actountants England & Wales Karen Hanlan Independent Examiner Ltd I Saracen CI05e Ettin8ton CV37 7SZ Date: 2511012023 io Shirley Old People's Welfare Commitke Limited FiDaticial Ststements for the year ended 31 March 2023 Statement of Financial Activities (induding an Income & expenditure account) Total funds 2023 Total nds 2022 funds 2023 Income from". 1013 Donations and legacies Charitable activities Investments 312 832.325 164 8,952 832.325 97,254 684.120 Other income- insurance daim Total income 22.C 2Z.LK)O 8W 863.441 781.387 Expendlture on: Rabsing funds Charitable artivities 19.913 846.838 19.913 848,728 17.679 732.174 1.890 Ti)tal exp*ndlturn 866.751 iJ90 868.641 ?49￿53 Net{expenditure)/ inwne and nat m¢)vement in fimds Transler of funds Reconciliatlon of fvnds: 111.950) 15,486 6.750 115,486) 152Th)) 31.534 Total fund5 brought fO￿ard 371.787 10.486 382273 350.739 Total funds arr￿d 375? 750 377,073 382,273 All income and expenditure derives frorn continutng activitles. The statement of financial activities includes all gains and losses recognised in the year. li Shirley Old People's Welfare Con)mittee Limited Fitjancial Staten￿r for thc year ended 31 March 2023 2023 2022 Balance sheet Flxed Assets Tangible assets 255.211 198,545 Current Assets Debtors Cash at bank and in hand 25,404 125.533 150.937 31.556 210,022 241.578 Current Llabilitles Creditors: amounts falling due within one year IZ9,075) 57,8501 Net current assets 121J62 183,728 Total assets less current IlabHItI 3￿￿73 382.273 Net assets 3?7￿13 382,273 Funds of the tharltr. Restrirted Funds Unrestricted funds T¢)tal charitylunds 10.486 371,787 382.273 375323 377A173 AeElstered Company number. 09364967 The accompan￿￿ aCco￿tin&poliC1es ncrtes lrymp*rof these fmaKial statemert For the year erthd 31 Marth 2023 the cornpanyTW entiw to eyemption frtyn section 477 ofthe Compat)ies Att 2(￿ reLitin8 t05mall ci)rnp*nte5. Respon￿bilItIe$0f director5ftru5tee5'. lal The members ha¥e not required tte thariiaL4e Com￿nY to obts￿ an au¢lit of it5 fln•ncfal statements for the year in quest5on in a£cotdan£e with Secti￿4760￿ theCcvnpaniesAcE2L*)6. howth*r. inattofdartewtth Section 145ofthe Charybes A¢t 2011 the financial 5ratements h3¥e beenexafflir*d by an IndepEndentexami￿rWttIjSe report appear50n page 10. Ibl The th￿t0￿/trUSttes aCkn¢y￿e￿xe tt*wre5p)nylN.1￿1of ￿th thÈ requirtments of the G7mparrie5 Art with resperttoactountu¥ ￿(ordS1ndthe preparation ofx 382273 Shidey Old Pe(yle'& Welfare Committee Limited Financial Statements for the year ended 31 Marcb 2023 Notes to the financial statements (continued) Restricted funds Un- festricted funds 2023 Total Fixed assets Current assets Current liabilities Total funds 255.211 255,211 149,187 150,937 129,0751 29.075 375,323 377,073 1.750 1.750 Restrirted Un-restricted funds fund5 20Z2 Totsl Fixed assets 198,545 198.545 231.092 241,578 157,8501 (57,8501 371,787 382,273 Current assets Current liabilities Total fvnds 10.486 10.486 11. Operating lease commllments The total future minimum lease payments under non- cancellable operatinE leases ère a5 follows . Expiring: Within one year Between two and fwe years In ffiore than five year5 2023 2022 57.254 69.523 12. Cortrolllry Irrterests The charity is controlled by the trustee& 13. Related PartyTransth5 There were no transactions with related parties during the year12022: None). 23 Shirley Old Peopk's Welfare CotiuDitte¢ Limited Financiaj Ststements for the year eDJed 31 Match 2023 Notes to the finanaal statsments (continued) funds funds fwd5 2022 (Yonalions and legaaes Charitable activitie5 Investments 11.022 684.￿0 13 86.232 13 Total Income 695,155 86232 781.387 Expendrture ort: Raising funds Charitable activities 17.679 ?05￿24 17.679 732.174 26.350 Totsl expendlthye Nel{expenditurel/ Income and net movement In fvnds Trdnsfer of funds Recondllatlon (rffvnd&' 26.aso 749A53 124348) 59W2 68.646 168.646) 31 Total funds brought forward 331.489 19.250 350,739 371.787 iOJ86 382273 24