Ch•rlty R•gbtrallon No. 1161889 Compry Regbtratlon Mo. 9122440 IEngland and Wales) CALPE HOUSE LIMrrED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
CALPE HOUSE LIMrrED LEGAL AND ADMINISTRATIVE INFORMATION Th& Hon. Sir JO5 Bossarb) KCMG MP Tru8ts¢$ MrAJbèrtA P(ogio OBE GMH Mr Jose Ju9 h"sharelks FCCA GMD Mr Edward L Yoffe QPM CPM ¢¢thn lan McGhi& MA FCMI RN (Rtdl Mr James jo Neth KC (Ch8imwl (Finnry•l Director) Mrs Debch A J Hw18y Mr James Andrew Noguera LLB LLM Rl Sir Lwthy Hofv MP (Awirtsd 10 DecembeT 2023) chnan MrAJbertA Pogw OBE (aAH Charity nurthr 1161889 Company rKJmt4r 9122440 Regislernd office 19- 23 SqLbare 21RU Cooper Yw & Pwtner3 Ltd Hunter House 1C13 Snakes Lane Vlest IG8 Banker¥ Natwest Bank Pk Gibrattar Savuws Bank Gibrallar IntematK)nal Bank Ltd
CALPE HOUSE LIMrrED CONTENTS Chainnan's s&ent Trustees. rewt Indepw(1ent audrtoffs r Balan 10 Notes to the finanoal statew*ts 11-19
CALPE HOUSE LIMrrED CHAIRMAN'S STATEMEpir FOR THE YEAR ENDED 31 AIARCH 2024 A8 we rnfflect on the past r. whhth marts 35 yws of Cae House. it 6with Thmense pride and 9ratilude that I present ihis Chainnan's Ststement tsthe end of year acrourts of Calpe House Limitsd. Befor¢ I do. this year we eXrerieed the sad kjss of Lord Hoyle, a dear frieNI. mentor and dedicated trustae who served our charity with distinction for many years. His commitmènt and w¢sdom have beèn imialuable to us at Calpe House. In his stead. we are pleased lo weton his son. The Rt. Hon. SIT tindsay HOY MP. who has graciousty agreed to continue his fatherfs legacy byjcdning as a Trustee. We e Sw ndsay'S experierth dedThtM wil gwly ¢ontritArte to our ongoing succes5. This finarrial year has been marked by sigThficanl rThl¥storès XCOMlShrnents. made posSie through th8 urwavefing dedicalion and $UFWIrt of many iThYr¥idus niSatIOns. Firslty. I would like to extend my tartlelt thanks to my Bowd of TnBtses. Our cy)mmitment and seThi on a wTrbono basis is invalu8bte. we generOUY gNe time WKI experbse lo guije Calpe Hcyjse lowards fvlfilling its mission. The Board's semess dedicalion ensures thatwe continue to provKJe a Home away from Home forthe people of Gibrahar during their m051 challeNJiNJ times. To ovr exceptional tèam of staff. thank you ftsryr hard work aThJ deth8tiM in delNering the twslees. vision. Your efforts transfo Calpe House ifrto a WElcomin9 sarthry. making it a true 'Homè trom Home. for all vtho stay With us. The compas&on and professionalism you briNJ to your roles are the ¢orTWStones ofour service and gr&8tly appreciated by all who p8SS through our door5. We are also deeply grateful to ¢)ur CtypK)rate Sponsors WKI lo every indNidual vtho has don8t¢d, vthether big or small. Your generosity is Ihe lifèblcx)d of Calpe House, ailth•ing us to maintn and improve faolitses. It is a testament to thè spirit of the Gibrattarian o)mmunty that so many are willing to gNe in Sup of our mission. Calpè House is not a Govemmant institution., it bekn95 to the People of Gibrattw. Your cthinued support ensures that we can provide cx)rnfort and support to those in need. This year has also been nfftant as Aug1 2023 Ma8 fve years SIre the OFeniThJ of our new buildings. We have embarked on 8n extensrve maintenarKe 5che(luleto ensurelhat Calpe House remains a sale and welcoming environment. Thus far, we have Cometethe paintin9 ofthe building'$exterior, a step in presèNin9 the integrty and appear8n( of our faUleS. As we look foard to the coming year. w¢ remoin commilted to enhwng serviceswe provide and uphokling the high standards that our residents deserve. Thank you once again to our Irustees, staff, corporate stKmsors, and every dorJr. Tofftr, w• continue to make Calpe House 8 tacon of hope and supkw)rt forthe People of Gily8lt8r. ALLO Mr Albert A Poggl¢ OBE GWI Chairman Date.. 010(ob¢r 2024
CALPE HOUSE LIMrrED TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees. pfesent their report and fi181 ststemerts frx the year ernle(131 Marth 224. The finandal stsiements ha been Fwepared in accordarKewth the accoting pc4Kies sel out in note 1 tothe financial ststements and compty wth Calpe House Limrterfs wvemiNJ 0ment (MemnduM of as$oo81ion}, the Companies Act 2C#X and"A¢ccwnting and RewxlMIg ty Charilies.. Statemènt of Recornmended Practice appli¢atk lo charitw prèp8ring their accc¥Jnts in a¢cordm ith th• Finanial Reporbng Standard Opicable in the UK aThJ Republic of Ireland IFRS I21. leffecthe 1 January 20191. Obiecdve8 and aebvrl cal HotA8e Limiteds obj.ecti sre to offer xcOM to palients and their escorts have been referred for treatment to th& United King} uThJer the Gibramar H&ilth AtNIty (GHA) sponsored pah'ent scheme. Calre House Limited is r¢sble for the control and athinistralion offunds whth may btr 8vailatle together with the adrninistration and ¢xntrol of freehold worety at number 123 Ntyfdk Square. Paddiwon, W2 1RV, irb Ihe London OU9h ofcty of Westmirtstw. Calpe House Limited is acvety advawng ils oLy•ds fty the public tenefft. The ten11a1 benefiraaries of the charity indude all thos& in Gibrallar affected by and health condilions and nee(1 to u)me to the UK for m•di¢al treatmenL The Trustees. have paid due regwd to gu wued by the Ch• commissi in dec>Jing ¥that actr4rfi8s Calpe Hol Limrted shouhl uThJertake. of volunteern The Trustees would like to •¢knThblets the treme efforts of the ¥dunteers ar1 mary supporters of Ihe Charity for their contFnuous SUFVOrt in helpin9 Ihe Charity to ackne¥e its ti#d1v. s91¢ report The deXpknon under thè h¢8diThJs "Athe¥eM pthnance" and "Fingwl revp•f meet the c¢)mpany law r•quirementB for the TTUStees' to w¢sent a strateg rep¢t Achl•v•m•nts and perf0mnCe The Twstees are F4eased to r¢r#>1 that the premises at 123 Ncthk Square continue to be cyrnting extremely well. Every year. the Gitrmaltar Health Aulhority refers hundreds ofF¢e to Stsy al Ca House. induding kwople diagrmxed wilh cancer. having cardiac OFialions recovering from kidnèy transtAants. Calpe HoLtse has an important role in thè hves of rnany G>rallarians. on InstStu that helps to support th? communty when Ihey are most vulrwable. Th• Board is commiited to ensuring th8t the premises c(MIi to be of the hwjhest Star8. Duiing the year extensN¥ irs and maintenance amounting lo £142k were caThied Jt to su Ihat Norfolk Square remains in optimum condition. The program was funded from the £2C#)k restri funds that had t)een donated by the Friends of Calpe Hous• $Féuknlly for such puIrM). the approval Lrf The FrwKIs of Calpe House the bal8rKe of £58k has been re8$¥d to general reseNes. Calpe House will c4)ntinue to woth closety with the GHA to ertswe the Lwldiry's o(>)Jpancy i8 Manag effioenty and effecaively. aThJ as maw patients and carers are 10 * thwE as witde.
CALPE HOUSE LIMITED TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Financlal review During the ye8r en¢Jed 31 2024 Ce H(e Lwiited gted inrAming rns(wrc$ of£740.52812ff23.' £638.0701 and expensed resources of É781.281 12023.. £557.328). This has resurted in a thficit for the year of £40.75312023.' £80,742 surplus). The defi(¥t was exp8cte<l and arose prfftwty by thè exlensive repairs and maintenance program of worts carried oul during the ofthe finanoal year. At the end of the ting period the chwTty reflects a net asset p0SOn of £7,189,841 12023 . £7,230.5941. Restricted ftjnds of £2CQk were largely ¥Jsed for the repairs and maintenance prr4ram Irrfied abov¥ wilh balance takèn to general reserves. The fair Val of 1923 Norfolk squa stsnds at £17.5m. un&wyd frcrfn the prior ar. Thè dirèctors con%der that this valutr Stll approprth as at 31 March 24. Cash resources are managed prudtntty to ensure su1rKx INuKlity and provide the abilty. toge wrth the 8upFort of The Friends of cal House, to maintain the premises at N¢)rfdk Square in an excellent condrfion. The long-term, interest fffje. k)an frym HM ¢))veM0fGi1Jfal1ar IHMGOGI stsndsal £11,51926412023: £11,519,264). The was no change during the year. R•s•rve pollcy It is thè policy of Calpe House Limited that unrestri¢W luThJs whth ha¥• Mt been desiwed for a speufic use should be maintained. as a minimum. at a levd equivaknl to trAween three and six monlh's expenditure. The Twstees, cons¢der that rgs8Nes at this Ve1 wll ensure that. in the event Of a wgnrfunt drL¥) in lunding, they wll be able to continue Ihe Calpe Hthjse Limited's current aVr wlwle is givèn to ways in whth addOal funds may be raised. The trustees are grateful to the Friends of Calpe House for their cfjnb.nld SUPF¥Yt. RSsk mana9emert The Trnstees. have assessed Ihe rnaior to whth Ca House LÉmrted 1$ exposed and are satisfied that appropriate systems and contrds are in ace lo m9* agai1 risks. Plans lor future periods ilst all COV1[19 StrIdiOnS have been removed. Calpe House Limited win continue to obser¥e latest public heatth guidance and operate under the nece$5ary contr$ and Lwerational measures to meet these. cal House Lirnited will continue to pursue its obJe¢li in the forthcoming years as the TteeS shall determine.
CALPE HOUSE LIMrrED TRUSTEES. REPORT (coKfiNUEDXINCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 CalFe Htyjse Limited is a c>)mpany limilod by guarantee Sha iawial c>mtituled a m8n)randum of assoaation. The company was Set up on rts Juty 2014. The ccffipany was rryFStergJ a$ ¢h8nty on 28 May 2015 with registration number 1161889. (rhe thwitable OFr8tKM and assets were transferred from the Calpe HLwse Charilabie Twst on 11 March 2016). The Chanty consists ofrine Truslees rnarw the &thits of Calpe House Limit8d. The Tmstees form Board of Managenrt (Bom). The fnKtees meet as a l> regularfy arKJ are respsible for all dshins taken in relatton to nlI¥j C•lpe Limiled. Th• of mgmberB of 8oM sh811 rver be 10$5 than three. The Trustees., are o1$0 the dKe(tss for the ptyPe ofwnpany tw. and wrf)o seNed duriTh) the ye¥were.' - Mr Albert A Powo OBE GMH - Mr J08e Julio Pi$harello FCCA (alD - Mr E¢4¥ard L Yome QPM CPM - Commod0 lan McGhie MA FCMI RN IRtd) - Mr James Neish KC . Mr Georye R Descisa - Mrs Deborah A J HLWI . Mr James Andrew NogLWa LLB LLM - Rl Hon Sir knntJ8ay Hoyl• MP (Charn) IFinanoal tr> {hwxnt¢d 10 Dember 2W23) hen appointing new lrnsle¢s to Hwse Lwnrted. the LY>ord of Trustees ctysider the skills, kn+ and eXperce of the inthidual in making the appcintm¢nL NOtan9 this. th¢ trustees a¢know thdr c£4kctNe responsibilty ovèrthe strategic diredion, govem8rKe aThJ 0ratIS ofthe charity. NLMe of the Twstees. has any int8r¢st in the compby. 1 of Twustees We memters of th• ¢ompany and gu8r8ntee to contrArte £1 in the of a winding up. Th¢ names ol th• current Dired and thosè hehj office duriThJ the finarKial yw ¥• set crt ab. The Directors who 8r¢ Charity Trustee8 for the purFKe of Chaithes Act 2011. cydUCt the OpelOn of t Calpe House Mited. The board of Directors meets regularty to di8CLtsS thtr affairs of Calpe Plouse Limited as a thofe. None of the Tw8tees rec8ive remwraliM ty other bengfft fn their Wyk Tith car Limit•d. Th• Friends of Calp• H AH donalK)ns are hdd by the Fr$ of CalFe at the (h$p of Cape Hse LwThted. The Friends of cal Hc¥JEe i8 a Gitrxaltar drIty. is sutiect lo irhknndenl examination. 7it1 the annu acco1& filed vAth tr G1taar ChèrAy CommwK>n. Eath of the dir¢c¢ors has confirmed that I is rK) infc¥makn of tw are wKdre whM i¥ relevant to the audit. but ofwhich L*aiitable cl>mpanS atth r6 unware. have fvrther tsjnffined that they have taken aN wowwte steps lo $LKth rethnl information and to establi%h Ihat ts auditor is ol infom)th.
CALPE HOUSE LIMrrED TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024 ststement of Trust•eg' rnpwbilities The Twstees.. who are also the diTedors (rf Calpe Hwse Liited fry Ihe )Se of ¢£thpony law. ar¢ responsible for preparing the Tw$té8s' Repori snd the financial ststements in accf)rdance wth aprAirable law and United Kingthn Arxouth"ng Stsndard6 IUNted G•walty Acceptad AcctyJnts'ThJ Pr#¢t1). Company Law wqUi$ Ihe Trusttss. to prepare finarwl statements for èach finanual yèar which gNe a true and fair view of the state of affairs of Calpe H(xJse Limited and of the wing resources and application of resources, induding the in¢>)me and expendiluo. ofthe ¢tsitth c)yrpony for that year. In preparirwj Ihese financ4al 3t•t¢ments. ts Twstees. •e required to: - 0[ve the methc#Js and wirKiWes in the Chaiilies SORP: . rnake jutj91) and eslim8tes thal are reasonablè aThJ prwjent.. . prepare the financial statents ¢)n thegoirmj basis unless it is in8FWl0 presLfftthatthe Calpe House Limited WI conb.nue in operation. any lime the ffinanual po%on of Calpe House knmite(l and enable them to ensuY that the finanrAal stst•ments ¢ompty wth th& Companies Acl 2c. They are also Tesponsible for safeguarding the assets of Calpe House Limited and hence for taking reasonabk steps fw tht prevention and detedion of fraud and otrr irragu1ltie$. Auditor n aco)fdarKe with the company's arbdes. a resolutffi Nopn9 that Co)peT & Partners Ltd b8 appoInted as auditor of the company ¥1 be put al a General Meeb"NJ. The Trustees. rewrt, indud1 the Strateg re1. was apwo¥ed by the Board tsfTrtees,. Mr Albert A Poggio OBE GMH ChaThan Mr Jose J10 Pl8har•lk FCCA GMD FThTr>810iTeclor Dale.. 01 October2024
CALPE HOUSE LIMrrED INDEPENDENT AUDrroR'S REPORT TO THE TRUSTEES, OF CALPE HOUSE LIMITED Opinlon We have audited the finanaal statements of Calpe Hre Limited lthe'calpe House Limited'l forlhe year ended 31 March 2024 which comprise the stment of aclivrhes, the baLgnce sheet and the notes lo the financia statements, indudiThJ 8 summary of $wJnfficant ac¢ounb'ng polictes. The financsal rewrting framework that has been appl in their preparalion is appliCae faw and Unitsd lQ"nydom Accc¥Jnb"ng St8ndards, induding Financial R¢porting Stsndard 102 The Financial Repo"rj St8ndard apphcable in the UK and RepublK of Ireland (United Kiiwim Generalty Ao>pted A(x3)urty ptte). In our opinion, the financial Strtem.. give a twe and fair view of the stste of the dwil•t ¢))MlS its a8 at 31 Mard) 2024 and of ts incoming sOurceS and appkcalion of fesour¢es. for the year then ended., Basls for oplnion We o)nducted our 8j11 in n¢e wilh Inteffla SAandards AlI11th) (UK) IISAS (UK)) applicabl• law. Our i•spon3ibilities undèr those standards are ftjrther desuibed in theALhJito¢s respJnsibilities for the audit olthe account$ section of our rewrt. We are iThJeFetht of ts Calpe House Limited in 3CcOrdar with thtr ethical quirements that are relevanl to our audit of the accnts in the UK. indudiThJ the FRC'S Ethical StandOTd, and we have fuffille<l our other ethical resportsiblilies in ¥eCOrdar with these requirem8nts. We believe that ihe audit evidence we have obtained is s"•nI and apFwate to provKle a b"$ for our opinton. Conclusions relatlng to going concem In auditin9the finanaal statèments. we haC¥ndthatthSdIre{Itys. use oflht wrwj basisofaccounting in the prgparation of the finaw81 statements 1$ 8PPTome. condthons thal. individualty or cdlectively. may cast swrfKant dbI on the entivs atrmlty to continue as 8 goH)g c¢ncem for a period of at least months from whèn the financial Statern are authorised ftjr i$sue. Our responsikn"Iitie$ and the resF)nsibilibes ofthe dw8¢1ty5 respeclto 90iThJ concem are desuibed in the relevant bons of this repyt. Oth•r informallan The other inf0rnat comwises ts Infcrfm in the annual rewrt. other than fv ffinancial statements an¢J our auditorfs report thereon. The directors are re$rble for the other informalion containad within the annual rewl. Our Qkmnion on the financ4al statements thxs irrformkn 8nd do not expres$ 8ny fowm of 0$8urance condu$ion thereon. In comecbonwrth aLM of fThnual slalenwts. c¥Jr Tespmsilylty i8tO Tead tr other informalion and, in doing so. consider whether the other informatkjn is materiaNy irwnsistent vrilh Ihe financRI statements or our kThledge obtained in the audtt or otherwse appear5 to te materially Milated. If we etrfY such material inconsistenaes or apparent material misstalemefrts, we are required to dtrtennir whether there is a material mtsst8tèment in the fin8n¢ial statements or a material missLement of Ihe other informalion. If, based on the wort we have performed. we condude Ihat there is a maten.al misslatemert of other infom)at6on. we are required to r$port that We have nothin9 to rewi in thi$ r89ard. Opinions on othw m¥tter• pr•8crlbod by the COM10 A¢t 21J06 In our opinion, based on the undertaken in the ¢Tse of our aLn the information gNen in the Trustees. Rer#)rt. ilmIeS the diTecaors' rèport the stratle report prepared foithe purposes ofcomp8ny18w. for thefinaTh¥l yearfor*hKh lfinarla1 slatements are prepared consistènt with the statements: and
CALPE HOUSE LIMrrED INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE TRUSTEES. OF CALPE HOUSE LIMrrED the strat89ic report and the direclors. within the Tnjstees. have teen prepared in accordarKe with app&"cable legal requirements. Mattevs on Thich wg ar• r•qulr8d to report by •x¢epti In the light of the knO%e and undetstanding of the o)mwy JN1 its eNronrnent obtairbed in the ¢cwYsè of the audlt, we have rwjt identified malenal misslat9 in the Strategic repcrfl ar¥J the directorn, ret. We have nothiThJ to rewt in resp•¢l ofts matters in relalion to thè Companies Act requir•$ us to rewi to you rf, in our ownion: adequate ao>)unting records have not been kept. or ret4ms adeqLHte for ryjr audit r>t be r•ceNed Irom branches not vi¥iled by us; or Ihe finan¢ial statements are not in 8greemrt wilh the accounting rec4xds and thm$.' or certain disdosures of directcys, remuneration SFeuW by l• a not made". or we have re¢erved all the informakn and explan8bons we require for our audit. Rg8poMlbllltl•s of Tru¥tee•' AS oxplained more fully in the 3tstement ofTrustees' respwbl1es. Trustees., who are alw the diredors of the Calpe House Limrted fNth& PLwpose of company law. are res51ble the preparation of the financial slatemenls and for being satisfie(l th they give a true faw and ts such intemal cxjntrol as the TNslees' deternine 13 r¢es$8ry to enabfe the preparalim of finan¢ial statements that are free from material misststement, whether due lo fraud or effor. In prepariry the finarti81 statements. the Tnjstees. responsiblt assessing Calpe House Limited's abilty to conlinue ¥¥ a going corKem. disdoyng. as 8p1¢9b1e, mattels related to goiTh3 ioncem and using the goiThJ concem basis of accounb.ng unless the Trustees. either inteThJ to liquR1ate the charitable crynpany or to ce8se operations. or have no realistr allemalive lo do so. Auditorf¥ respornibilities for th• audlt of the fina1•1 statements We have been appointed as auditor under section 144 of the Charrf]¢s Ad 2011 and report in ?01darKe with the Act and relevant r¢gulalw)ns made or having effe( ttweurhjer. Our objectives arè to obtain aSOnae 8&8ur8nce atsxrt whtthw Ihe financial statements as a whole are frte from matefial misstatement. whether due to fraud or error. and to i8sue an auditorfs reFXMt that indudes our opinion. Reasonable assurance is a high level of assurance bLrt is not a guarantee that an audit conducted in accordance vhth ISAS (UK) will detect a material misstienwrt when it exists. Misstatements can arise fr(wn fraud or error and are ¢on$idèred material if, inthJualty (K in the •39regate. they ccmjld reasonably be exFeced to influence A further descAiption of our rèsFJnsibilits f the audit of the financlal stslèmth is located on the FanCIal ReportiNJ Counol's website at.. htlpJlwWw.frc.org.uklaudrtorsponSlbiIrf. This dgsuipb'on fom)s part of our ¥uditofs rekwm. Exlent to which th• audlt was consldered c•yble of det•eting irr•wlarttles. I1UdIng fr¥ud lThegulawbts. induding fraud. are instarKe5 of nOn-¢phancÈ with LThs and regulations. We design wocadums in line our responsiknlities. ll1ned above, to deted material misstatements in resped of irregularities, indudiThJ fr8ud. The extent to which our procedures are Capable of detethng IegUlaritses. indLK1ing fraud, 1$ ¢Jetailed below. We planneil our au¢Jit so that we have a leaWnab exp81 of detec"n9 material misstatements in the finanoal statements ultIng from irrewlariknes. frathy nOn-¢lare vnth Lv or regulat)ns. In identifying and assessing risks of materia in respect of irregularthes. induding fraud non- compliance with laws and iegulalions. our wocedures induded the follo.j.. The engagement parkner ensured that the en98gement team colectNety had the apwopriate comixtence, capabilities and skills to Klentsfy or recognise non{aTrance with •pplKoblè and regulations. Enquiring of rnana9emènt of they are aware of any Mn-compliance wth laws and re9ulatbtin$. Enquiring of management vhther Ihey have of any aclual. su5pecled or sllW fraud. Erlquiring of management their intemal contrds eslabltsh•d to mwe risk related to fraud or nofv complrar with laws and reguLgti¢)ns. Discussions amngst the engagement team on h(MT and where fraud might rmr in the finanoal statements and ony polentral in(licatOf5 offraud. As part of tS discussion. we idenbfied the tential for fraud in posting
CALPE HOUSE LIMITED INDEPENDENT AUDITOR'S REPORT (coKfiNUED) TO THE TRUSTEES. OF CALPE HOUSE LIMITED of the unusual ioum¥s. Obtaining underslarxliry of the legal and regubtw frath the group opeTrtes in fwsing on those kns and regulalions that hod a (rect effad the fmanrAal statem•nts or ihat had 8 ftjndamental effect on th$ operations. The key •)d regulations we cOnd in this c£XI induded UK Companies Act, tax To address the risk of fr¥ud through man•3eTr aThJ (Nerrid¢ olcorknks. w?.. Performed anatytirAI proceduos to any unLtsual or unexped¢d relatiCShIpS or transactns. Di8cussion with tnjstees and managenl as to where Itw there was spIlly11fy to fraud, tt11 kn¢wAedge ol actual, SLtspecled and alw fraud. Confiryning cyjr undeTstandin9 01 COntrS by wlorming a watk-through test or observation and enquiry. Audiled the risk of fflan¥merrt overrvje of contrd$. indudiThJ thwh tesling iLwmal enlries for appropriateness and lar9e and unusual bank transackns. In resnSe to th¢ risk of Yregularibes and ncH>)MFAl Tmth and rtyuknlions requrrements, we designed procedures which induded, bLrt ar¢ not limited to: Agreeing financial statem8nt disdosures to Sr¢Ing dments110n. Enquiring of manapment as to a¢lual aThJ Wenbal ITbgatk)n daims. Reviemng est wofft and loss ac£x)unt items ftyv4kkn> oflibgakn. The test nature and other inhgrent limitabon$ of w •Jdit. kwther with the inherent limitations of any accounting and intem81 ntrol systsm. mean that there is an unavoidable ri¥k that some rnalwial misstatements in of irregui8rities may remain undisCered even thwh a111 is plann and performed in ac£ordan¢e with ISAS IUKI. Furthemiore. the ftjrther removed Ihose laws re9ulalTh$ a from finanryal transath"ons, the less likdy it is that we would become aware of rn-e1artt. Ourexaminatth therefore not be telied upon to dis¢lose 811 such material misstatements or frauds, errors lx inStar5 of compliance that might èxist. The respon$ibilty for safeguarding the assets of the company and for the 5x9venti and d¢tecti of fraud, error aThJ non-complian¢e with law or regulalions rests with the directors. U•e of our rnp This report is made solety to th¢ tharivs trustees. as a btrfty. in acccrfdarKe %bryth part 4 of the Charitie (Accounts and Reports) Reyulalions 2(. Ouraudit has been undertaken so thatwe might state to the charity's INslees those Matters we are required to ste to them in an auditors. rewl and for no other purpose. To the fullest extent permitted by lth¥, do not accept or assume respon"tslty to anyone olher than the chanty and the chaiity's trustees as a bo(ty. for a11 work. this repr1. oi for the opinicffjs we have fomd. Crwer yJ9 & Partners Ltd is elvjible to as an tenns of Sect 1212 of the Cornpanies Acl 2CKfj. S(4 Manlsh S•nganl IS•nior Slatirtory A11 for and on b•half of COOP Young & Parb*rn Ltd 01 Odobw2W24 Hunt¢r Htyjse 109 Snakes Lane V¥t5t ststsrtory AudStor Essex IG8 y
CALPE HOUSE LIMITED STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 T¢Xal Restricted Total funds funth 2024 Donats'ons and grants Charitable acvii$ Investmants Other intsjme 13,281 13.281 272yI 572.165 17,2&fj 21,357 27.292 572,165 17256 21,357 Total 5ncom¢ 740.528 740.528 6&8.070 638.070 CharitatAe athvthes 141.774 781.281 557.328 557,328 Net In¢om• for th¢ YrI Net movement in furn1• 101.021 (141.774) (40.753) 80,742 80,742 Fund balanc at 1 Aprll 2023 Trarfer of lunds 7.030,594 2(KJ.Cts) 72,594 6.949.852 200,0 (58226) 7,149,852 15 Fund bal•nu• at 31 March 2024 7.189.841 7.189,841 7,030.594 2C(l.0 7,230.&J4 Thg statement of financial adivibes all gains aThJ losses Twnh8ed the year. AII IlJMe and exF¢ndrture derive from corknuY@ ac*¥fi. The statement of financaal 8cl1vib aso cun[e$ wilh the requirements for an wKome aThJ eXpditUre account under the Companies Acl 26.
CALPE HOUSE LIMITED BALANCE SHEET ASA T31 MARCH2024 Fixed au•ts Tangible assets 10 17,584.939 17.645,015 11 12 94,894 842,821 193,e65 cur asset investrnents Cash at bank arbJ in h1 810.113 272228 1.161639 1.131,3eo Credltorn: #mounts falllng within <¥n• y••r 13 138.473) 126.$37) 1.124,166 1.104.843 Totsl •ssets Itss curr•nt liabifrtks 18.7(P3.105 18.749.858 Credltors: amounts tslliTrg due after more than one year 14 (11.519.264) (11,519,264) Net a•80ts 7,189,841 7230,594 Incomè fvnd Restricted fvrKI$ General unre5tri¢#ed frd$ Revaluation reseThe 6.957.212 6,797,5 232.629 7.189.841 72.594 The Trustees, acknowledge their resp(¥bleS t(¥ ensurrKJ that the tharrty keeps ac£g)untirpJ records %thich ttmFty tmth section 3B6 of Ihe Act and for preparirffj fjnancial slalerrerts vthich we a true and tsir view ofthe stale ofaffairs of the g)mpany as at Ihe end of theffinancl yearand ofits iThing resources and applttbon ofresources. induding ils income and expentjiture. for the financial year in xcotdance the requirements of sedbms 394 and 395 and whid) otheise ccrfnpty with the requirements of the Companies Act 2C(6 relating to finan statements. so far as applicable to the comp8ny. Thèse financial statements have been prepared in xc4Jrdance tArylh provish)ns appliCae lo coMpanS subject to the Sm1 wnpanies regime. The finanaal statements were approvfjd by the Trustees, 01 Odoir 2024. Mr Albert A Poggio OBRGMH Chairman IAr Jo8e Ju io Finala1 Director rello FCCA GMD Comp•ny Registra11 No. 9122440 10
CALPE HOUSE LIMITED NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 AIARCH 2024 A¢¢ounllng 1¢1•9 Charity Infrffiialion Calpe House MIted is a private co[anY limTted by tyjarnrrtee InCFN ErwJland and Wal&s. The registered office is 19. 23 Norfolk Square. Lonthm), 1RU. 1.1 Ba818 of prnparation and a¢¢ounllng converi The finanrial $tat¢mènts have been pared in )18 with Calpe H(yJse Limited's memorandum of assoriation, the CompanitrsAct 2(K6 ant1-Acowntirs and Repcting by Charilies". Statement of Recommended PraciKe aOicable to chaiitses pParing their accxbunts a(¥x¥dan wth the Finarrial Reporting Slandafd applicable in the UK and RepU¥C of Ireland {FRS 102)" leffedive l January 20191. The Calpe House Limited is a Publc Benefft Enlity as (lefird ty FRS 1ff2. Calpe House Limited has taken advantage Oftt w0visK$ in the SORP for tharthes app.9 FRS 1W2 Upd8te Bulletin 1 not to prepare a Ststemenl of Cash Flw. Th• finanaal statements are prepared irb st1n9. wfw.ch is the functional [TencY of Calw House Llmiied. Monetary arnounts in these finanaal statements are rounded lo ihe nearest £. The finanrial ststements have been prepared under the historical tsjst conven, modffj to indude the revaluation ol the charivs fre¢h(Ad WOFerty in Norfolk Square (see note 1.8 below} 8nd cèrtain fmarrial inslnjrrwts al fair valuè. The princi pjlicies adopted • set bel. Calp¢ Housè Limited meets the definrtw of a pulAK bÉn#fft entity uThJer FRS102. Assets and liabilibe$ are inilially reeognis8d as hIStlc41 cost or trans•#Y lue lesS othemse stated in the relevant accounting policy nolels). 1.2 Going ¢one•rn Atthe lime of approving tsfinancial statemenls. theTnJstees' havea re8sty4e eXpeat that Calpe House LimFted has adequate resources to conlinue in operdb"(xwl existerte for the foreseeable firture. Thus, the Twstees continue to adopt the goiTrJ c(xKem bas of accountwig in preparing the financial 61alemenl$. 1.3 Charitsbltr funds Unrestricaed fvndSarea¥aab1e kn useatthellirètth of thTrustees' in fUrtherar of Calpe Houstr Limilerfs chantable obj'ectives unW the lurwjs hav• been deswled other purp)sgs and Tthik1 be designated as 'reslricléd funds,. Unfestricted fijnds irKJwJe a rtvaluatw)n rnser¥e reweseniry Ihe rest of fr•èh(Ad pwrty at market value. 1.4 Incorning reS¢ur$ Inme is recognised when C8lpe Hwse L#iil¢d is enlilled to it after any perfrnrK condilions have been met. the amounts can be measured reliably. and Tt is [able that wKome will be received. Contribulions and grants are reQniSed Ot Calpe House Limrte(I h8s been notified of the grant and receipt is exFected. unless perfom)ance or desnall0n condrtK*)s require deferral of the arnounl. Expenditure is renisedvhn itis I). tt is re¢xynwl that once1he is a legal orconstnJcti¥e oblig81ion to make a payment to a thir(I party. it is probablè that settkment will be require(1. 8nd thè amount of the obligation ran bè mèasured reliabty. ExpeThYlre is rÈportetl gross of lated income. 11
CALPE HOUSE LIMITED NOTES TO THE FINANCIAL STATEMEKrs (coKriNUED) FOR THE YEAR ENDED 31 AIARCH 2024 A¢¢ounting polle (cont1ndI 1.8 Fund a¢Inting Unrestricted funds aValaet0 &tpiibes that furtherany knthe purp)ses ofcalpe House Lirnited. Designated fund$ a unreslricaed funds of the thwitywhth the trustees IHve dè¢ided at their discretion lo set aside to LBe for a speofic purFX)se. RestrKt8d fvnds relate sobely to grants feceived from Ihe Friends of House have SFe(yfied to be s¢¥y usgj for a pathlgr purkw in Calpe HOle Limiled. 1.7 Tanglbl• fixed amets Tangible ffixed assets a inilialty measured at cost arwj then SLL• me8sured al cost or valu•titin, net ofdepreaation and any imwrn losses. useful Ie$ on the folkffHing bases.. Fumiture, rluTeS, fittiTh> 8 equw IT and other éqLNwerrt 15% straight line basis 15% slrnvjht li t¢sis The gain or loss 81isin9 on Ihe disposal of 8n asset is tletemmed 83 tt differwK• between the sale pm¢e¢ds and the carrying value of the asset is recogni5ed in net Incon(ex1ditUreI for the year. Fixe(l assets 8r• held at histoit cost le¥s aC0JnIa1èd d8erati a1 impaimi¢ni thwges. 1.8 Freehold property Freehokl property solety con$ists of the proFety at Norfolk Square. The propety was irutialty recognised at cost, whith indudes Ihe purchase rost and any thredty atl11ixtsb expenditurè. Freehcld pwjety is held uThJer the revejualion oThJ is offied at a revaILa Fdus any athlilions after the last obtained profeswonal Valuth.. The fair value is reviewed on an annual basis by thtr Trustees. The suWus or defiot on revalualwi is re(JJgnised in Sl8tement of FThnLaal A¢bvrtw. Depreo8tion is not prowded on the wopety 88 the resknl valuè ts not eXpted to bo 8ignrfcanty different to the carryirwJ we. 1.9 Impalmbènt of fix•d a8•0ts At each reporting end dat•. Calpe House Limited reviv the amounts of its tangitAe assets to deternine whether t is any iNlicatKin that those assets have suffered an iMlnent loss. If any s indication •xisls. the rec4)verae amwnt of the assel is estimated in er lo deternine thp extent of the impwrment loss (rfanyl. 1.10 Cash •nd caBh •• Cash and cash equ¥¥alents indude in hand. depThils held at call wth banks, other short-terrn liquid investmerrts with original maturityes of thraè morths or Jess. 18$$ any bank o¥erdfafts. B8nk overdrafts wiyjjd bè shcthn wilhin tmyr0"ngs in rrent tiat#"kn. 1.11 In¥••trents Fixed asset investments ar• Inves1Th wilh a malurrty me than one year. Current as6et investrw)ts are inveslments *rylh a matuiity of less than one year held for investment purposes rather than to meet short temi ¢88tt C(rfnmitMts as tw fall due. 12-
CALPE HOUSE LIMrrED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Arx¢wnting polklo• (contindI 1.12 FInal1 in•trum•nts Calpe HoLffje Limit onty has finwc4al a88et8 finaThia liatiliiies of o ki1 that qualfy ¥$ basic financia instruments. Calpe House knmited has ele(tsl lo applythe provisions of Sedjm 11 'Baw¢ Financ4al arKI Section 12'0theT Fin¥naal Instruments Issues. of FRS 102 to all of rts finarK4al in5twments. Finan¢ial instruments are renIsd w) the Ca Hou8¢ Dmilerf$ bartt when cal House Limited becomes poty totr contr1 tovisions Oft instfwnert. Financial assets and fobilities are offset. withthe net arrwnts presènted in the finarKio1 $tat¢mènts, when there 1$ a legalty enforceable right to sel off ihe reco3nised amc4Jnts aThJ there is an intenlwjn to setNe on a rf basis or to realise the assel and sdue ts liabilty simuttaneou5ty. Baslc finanelal ass•ts Basic financ3al assets. whKh lTrUde detrtcrf3 and tash aThJ bank banCes, we irmlialty measured at transacbty) price induding transaction cosls and are subsaquenty caThied at amortisad cost usirBJ the effective Irts$t method unless the aThangefflent o)nstiiutes a firtarThj tr8nsath•n, wh¢re the trar¢saclion is me8$ured at the present value of the fulure receipts discounted at a market rat¢ of wrterest. Financial assets dasSrfd a5 receivable wthin one year are not amortised. B•sk fina181 Imbilibos Basic finanual liabilibes. induthng cseditrys arhy bk knans are inilially at transadicffi price unless thè arrangemenl constitutes a ffinawng transaclion. whor• thè debt instwment is mèasured at the pre8ent value of the fLrture payments disccwjnled at a mwket rate of interest. Finanryal liabilrtiss classified as payable one year are not arnorbsed. tlebt irtstrumenls are Slenty ca1ed at 8nxx1is¢d cost. ng the effectrwe interest rate methc¥J. Creditors are obh"gath"orts to pay for gcojs or servtis that have been s¥uired in the ordinary cwrs¢ of operations from SUpplr5. Am(wnts payable are dasyfied 85 wrrent liabilsbes rf payment 15 within one year or less. Sf not. tlw are kvesented as non{rIen1 Ikqtslthes. Trade credilots are reccgnised inrfi'alty at tr8nsaJion price and 5utrAquently measured at arnortised cost using the effecliv& interest method. Der•¢ognltron of fin•nci¥l lY•blllrf•s Financial lisbilth.es a derecogni•J v&th¢n Calpe Hwse LNrMled$ tntracaual (l98110n3 gxixre or are disthar9sd or cancdled. 1.13 Employ• bfits The cost of arry unused IKlbJoy entitiemert is reo)3nis¢d in the peri(¥J in whth the employee's services are received. TemiinatK)n beFffts ar• re0)gr1 imm8di•ty as expense Calpe H(wse Mit0d is demonstrably committed to terniinate the emF10YI of an employee or to wovide termination benefits. 1.14 R•tir•ment twwfits Payments to defin¢d OlributIon retirement b¢n8fft sdm are drge os an exFense a5 they fall th8. 1.15 Cr•dlt<>rn nd Kw¥lslons Creditors and wovisions are reco9nised whère the charity has a prèsent 0•gation resulting from a past event that will probabty re5uII in transfer of ftjnds to a thin1 p¥ty and the amount due to setue the obligation ¢an bè mèasured or estimated r•liaW. 13-
CALPE HOUSE LIMrrED NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 In the ap10 of Calpe Linwted'$ accounting FK4Kaes. Trustees. are requw•d to make judgements. estimates and assumptions atmyjt the cawying of assets and li¥tslilies th are not r¢adity apparent from other sources. Thè estimates and associ8te(l assumpti$ are b88ed on hisknical experience and other The estimates and uThJertyirwJ assUnwtits a revith¥ed on an onwing basis. Revisions to accounting estimates are rec(>3nised in the wic¥J in whith the estim is revised 14rf)ere the revi&on affe(ts onty that pericJ. or in the period of the revision aThJ frjtwe wtwe the reV1$h affeds both current and futu Property ValU10n since that date. The trt&8tees th) r#)t 0j¥r the Then1 mwket to be m8twialty dfvrprrt to th& value disdosed. Tangil)le fix•d •SBets The Ltselul 90M INe3 ofrL¥Fcurrent assets [woF) Iwe teen lfroM th&1t ofthe Donatlom and wants Toll 2024 Totsl 2023 furK Friends of Calp8 khxjse Gibrattar Health Authority fGHAI 13281 13281 26,348 13.281 13,281 27.292 A ibutiOn of £13.281 IW23: £26.348} was m•Je in W24 by The Friends of Calpe Hw. During last year a OJntribtsti of £944 was recoived from the GHA in ftdl subshly of Covi&19 related costs. Charltsbkn acd¥lti• 2024 Charitable •ctNitses {rTr)m dw9¢s) 692,345 572,165 2024 172 14-
CALPE HOUSE LIMrrED NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 31 MARCH 2024 Other in¢omg 21.537 Other inwrno of£21.357 durirb3 lastyear rewesents a gxtessfijl daim for loss of rwtsl irK4)me and repairs lo guest room. 2024 20rJ Employment and staff D¢preaation 310.W2 61.025 269.671 60.882 13.X12 27,579 23,581 83,440 50,983 49.4 8.216 7,175 2,897 10.446 10.857 Insurance Repairs. maintenance and facditRs marh*Jwit Postage, statiorwy and mir•Jr office Teleph¢)ne and ir1 Travelling exkWeS Legal and wofessKThI Auditors. remuneration 9,337 1,911 13,437 Payroll admini$tratMM fees CnIng Bank itharges Subsoiptions Sundry expen8es seInty expenses CompLrter and IT 8upw1 Covid related costs Isee note 3) 1.147 21.888 822 19. 939 629 11,193 S,(5 6,051 15.947 11,177 8.431 781.281 557.328 Restricted fund5 141,774 639.507 Un stncted furKIs 557,328 781,281 557.328 None ofthe Trustees. IDirectors (CK orry ¢J)nr3 with them) reimbursed for expenses from the Calpe Hi)use during the year. 15-
CALPE HOUSE LIMrrED NOTES TO THE FINANCIAL STATEMEKrs (coMriNUED) FOR THE YEAR ENDED 31 MARCH 2024 Employ•88 Numlyer of •mpltyees The average rrn)nthty Mmber of ernpbyees duriThJ ts year t5.' 2023 Nber Mumb•r 10 10 Emplryiment c 2023 246,932 18,355 Sorial secunty ¢J)sts Staff training Pen$th o)sts 21,638 287 4.729 4.276 310.W2 269,671 None of the employees enwuments excfjed £60.(¥KJ duriTh3 the cuTherrt finKyal piCKl. 10 Tangible fixed a$80ts r4tlnp & CoJtlV#luation At l April 2023 Additions 17.xKI,rJxJ 365.848 40,036 I7..884 949 At 31 March 2024 17.xI.[*) .848 40.985 17,9X,833 Deprnclation and knpairnwnt At 1 April 2023 Depreciation ¢harged in th& > 21.IXQ 6.148 54.877 61,025 At 31 2024 294.n7 27,1S7 321.894 cayIng wnount At 31 March 2024 71.111 13.828 17.584,939 At 31 Mw¢h 21 17.51xJ.rxKI 125.988 19,027 17,645.015 16-
CALPE HOUSE LIMrrED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 T•nglbl fixed {C¢nllnd1 The •cn11ng pJlKy cw•r freehobj 1$ to Tellecl it at fair ¥81ue wilh ¥ValK)n$ undertaken by indepeThJenl valuers at regUr Inte15 on an OFen mwket value basKs by refere to market evKlerw of transacb.on prices for simil•r properties. 123 N Land and buildiThJs are value(I based cffl the last rKofeS%I valuation ¢anied out in Juty 2018 adjLtsted for refurbishments arml iMlMIents since that date. Th• directors th) Tr)t 9>der the CeTrt value to t materillay drfferent to the net bcM)k value. The cost of Norfolk Square. induding refu1$1 othèr diredty attribulgd 9tre. amounted to £17.27 million. The revaluation reser¥e amounts to £232.629 in 1)r<l¢r to relba the pr¢)perty$ awd fair value of £17.50 milthon. li Dèbto 2024 2023 Amounts falling tlthln one Yr. Due from Gibrr Heallh Aulhyity Other debtors 5SW) 21,357 24,677 24,740 94.894 12 Inve•tm•nts 2023 Gibrahar Savrys Bank114nonth nolice d¢t•nlure) Gibrattar S8Vbngs Bank Ishort lewm dws"rt) Gibrattar Intemabonal Bank {1.year fixèd tem) deposit) Gibraltar InttsmalnaI Bank {short temi deposit) 1c.) 2,607 7L,(m)0 I,0 35,549 7,[ 7.272 810.113 842,821 13 Cr¢dltars: •mounts lallng due within y•ar 2023 Due to Fiiends of Calpe House A815 and dekned in¢ort 7514 121 19, 38.4TJ 17-
CALPE HOUSE LIMITED NOTES TO THE FINANCIAL STATEMEKrs (coKriNUED) FOR THE YEAR ENDED 31 AIARCH 2024 14 crlt0. am¢)unts falling after more than y•x 2024 2023 Long term loans . HM ernment of Gibraftsr CHMGOG) 11.519.264 11,519.264 Thtr long tenn h)an rewesent inlwest free from a HMGOG ¢¥)ntrO 0)mpY for the wrth•8e and refurbishments costs of 123 Norfolk SqLwe. Th¥se advan a repayable, alth(xJgh HMGOG have indicated theirsupportforthe Chty * thatthey wiu Th)t seek repaYnnI Of thanc8$ forthe fesee?bl future. fvnds 24 24 2023 Fund balances at 31 Marth 2024 are represented ty.. Tangible assets Current assetsl Ili81N-libes} Transfer offunds 17.584.939 17.584.939 17.645.015 17.645,015 1.124.1 58,226 1.182.392 {58.2261 (58.226) 1,104.843 Long lern (11.5192641 {11.5192641 (11,519.264> 111,519,264) 7,189.841 7.189.841 7,1)30.934 2LIJ,C(XJ 7,230,594 During the ye&r exlensive paIrS and Maintenan amounting to £142k were carTd out to ensure that Norfolk Squafe rèmains in opts'mum o)ndiiion. The program was funded from the £2Crf)k Stricted fvnd5 that ha¢J been don8ted by the Friends of Calpe House several yèar¥ ago speufically fot such purposes. the approval of The Fihtrnds of Calpe HouBe the balarKe of £58k has released to LuYe¥trKted futwjs. 16 ReJat•d party transactlonj There were no disclosable relatfjd party tranSw$ duriThJ year12tr23 . rKThI. 17 Taxadon The charity is exempt fmm tax on iTh))me aThJ gains falrrfJ wrthin se¢lion 9)5 of Ihe Tax Acl 1988 or se¢bon 252 of the taklOn of Charye8ble Gain ALX 1992 to the extent that these are appld to its charrtable objects. 18 Pen8i¢)n commlbnents from those olttp company in an iThYependenlly adMlStered fund. During the yeaithe charge tothe Ir aNI exFenditLFre )>xJnt re¥d ofFension contribulion was £4,729 (2023.. £4,276). Al the balance sheet date ¢xntribJtions of £1.040 12ff23.. £881). relating lo March 2024 deductions. were due to the fund and are Irjuded in tyedrtors. 18-
CALPE HOUSE LIMrrED NOTES TO THE FINANCIAL STATEMEKrs (coKnNUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Company limlt•d ty guarantee Th? ¢ompany is limi*d ty gu•rontee and has no shwe ¢aplo1. Every memberofthe ¢(NnpY undertakes lo o)rrtrAth to the assets ofthe (Yjmpany. in fv eVt of a winding up, such an 8mount as may be required nol eX(tj £1. 19-