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 Ju￿9 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 Debc￿h A J Hw18y Mr James Andrew Noguera LLB LLM Rl Sir Lwthy Hofv MP (Awirtsd 10 DecembeT 2023) ch￿￿nan 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&￿en￿￿t 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 Ca*e 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 eXrerie￿ed 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¥stor*ès ￿ XCOM￿lShrnents. made posSi￿e through th8 urwavefing dedicalion and $UFWIrt of many iThYr¥idu*s ￿niSatIOns. Firslty. I would like to extend my t*artlelt thanks to my Bowd of TnBtses. Our cy)mmitment and seThi￿ on a wTrbono basis is invalu8bte. we generOU￿Y gNe time WKI experbse lo guije Calpe Hcyjse lowards fvlfilling its mission. The Board's semess dedicalion ensures thatwe continue to provKJe a Home away from Home forthe people of Gibrahar during their m051 challeNJiNJ times. To ovr exceptional tèam of staff. thank you ftsry￿r hard work aThJ deth8tiM in delNering the twslees. vision. Your efforts transfo￿￿ Calpe House ifrto a WElcomin9 sarthry. making it a true 'Homè trom Home. for all vtho stay With us. The compas&on and professionalism you briNJ to your roles are the ¢orTWStones ofour service and gr&8tly appreciated by all who p8SS through our door5. We are also deeply grateful to ¢)ur CtypK)rate Sponsors WKI lo every indNidual vtho has don8t¢d, vthether big or small. Your generosity is Ihe lifèblcx)d of Calpe House, ailth•ing us to maint*n and improve faolitses. It is a testament to thè spirit of the Gibrattarian o)mmunty that so many are willing to gNe in Sup￿ of our mission. Calpè House is not a Govemmant institution., it bekn95 to the People of Gibrattw. Your cthinued support ensures that we can provide cx)rnfort and support to those in need. This year has also been ￿nfftant as Aug￿1 2023 Ma￿8￿ fve years SIr￿e the OFeniThJ of our new buildings. We have embarked on 8n extensrve maintenarKe 5che(luleto ensurelhat Calpe House remains a sale and welcoming environment. Thus far, we have Com￿ete￿the paintin9 ofthe building'$exterior, a step in presèNin9 the integrty and appear8n(* of our faUl￿eS. As we look fo￿ard 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 dor*Jr. Tofftr, w• continue to make Calpe House 8 t*acon 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 fi￿￿181 ststemerts frx the year ernle(131 Marth 2￿24. The finandal stsiements ha￿ been Fwepared in accordarKewth the acco￿ting pc4Kies sel out in note 1 tothe financial ststements and compty wth Calpe House Limrterfs wvemiNJ 0￿ment (Mem￿nduM 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 Op￿icable in the UK aThJ Republic of Ireland IFRS I￿21. 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 A￿t￿NIty (GHA) sponsored pah'ent scheme. Calre House Limited is r¢s￿￿ble for the control and athinistralion offunds whth may btr 8vailatle together with the adrninistration and ¢xntrol of freehold worety at number 1￿23 Ntyfdk Square. Paddiwon, W2 1RV, irb Ihe London OU9h ofcty of Westmirtstw. Calpe House Limited is ac*vety 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 ar*1 mary supporters of Ihe Charity for their contFnuous SUFVOrt in helpin9 Ihe Charity to ackne¥e its t*i#d1v￿. s￿￿91¢ report The deX￿pknon 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 perf0m￿nCe The Twstees are F4eased to r¢r#>1 that the premises at 1￿23 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 OF*ialions 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 Star￿8￿. 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• $Féuknlly for such puIrM)￿. the approval Lrf The FrwKIs of Calpe House the bal8rKe of £58k has been re￿8$¥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 C*e H(￿e Lwiited g￿￿￿ted 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)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 OF*r8tKM and assets were transferred from the Calpe HLwse Charilabie Twst on 11 March 2016). The Chanty consists ofrine Truslees rnarw the &thit*s of Calpe House Limit8d. The Tmstees form Board of Managen￿rt (Bom). The fnKtees meet as a l>* regularfy arKJ are resp￿sible for all d*shins taken in relatton to n￿￿lI¥j C•lpe Limiled. Th• of mgmberB of 8oM sh811 r￿ver be 10$5 than three. The Trustees., are o1$0 the dKe(tss for the ptyP￿e ofwnpany tw*. and wrf)o seNed duriTh) the ye¥were.' - Mr Albert A Powo OBE GMH - Mr J08e Julio Pi$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 t￿r￿> {hwxnt¢d 10 D￿ember 2W23) hen appointing new lrnsle¢s to Hwse Lwnrted. the LY>ord of Trustees ctysider the skills, kn￿+ and eXper￿ce of the inthidual in making the appcintm¢nL NO￿ta￿￿n9 this. th¢ trustees a¢know* thdr c£4kctNe responsibilty ovèrthe strategic diredion, govem8rKe aThJ 0￿ratI￿S ofthe charity. NLMe of the Twstees. has any int8r¢st in the comp*by. ￿1 of Twustees We memters of th• ¢ompany and gu8r8ntee to contr*Arte £1 in the of a winding up. Th¢ names ol th• current Dired￿ and thosè ￿ hehj office duriThJ the finarKial yw ¥• set c*rt ab￿. The Directors who 8r¢ Charity Trustee8 for the purFK*e of Chaithes Act 2011. cy￿dUCt the Ope￿lOn 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 remw*raliM ty other bengfft f￿n their Wyk T*ith car￿ Limit•d. Th• Friends of Calp• H AH donalK)ns are hdd by the Fr￿$ of CalFe at the (h$p￿ of Cape H￿se LwThted. The Friends of cal￿ Hc¥JEe i8 a Gitrxaltar d￿rIty. is sutiect lo irhknndenl examination. 7it1 the annu* acco￿1& filed vAth tr* G1t￿a￿ar 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>mpan￿S atth r6 unware. have fvrther tsjnffi￿ned 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 jutj9￿1)￿ and eslim8tes thal are reasonablè aThJ prwjent.. . prepare the financial state￿￿nts ¢)n thegoirmj basis unless it is in8FW￿l0 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 otr*r irragu￿1ltie$. Auditor n aco)fdarKe with the company's arbdes. a resolutffi Nop￿n9 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￿ re￿1. was apwo¥ed by the Board tsfTr￿tees,. Mr Albert A Poggio OBE GMH ChaThan Mr Jose J￿10 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 Hr￿￿e Limited lthe'calpe House Limited'l forlhe year ended 31 March 2024 which comprise the st*ment of aclivrhes, the baLgnce sheet and the notes lo the financia statements, indudiThJ 8 summary of $wJnfficant ac¢ounb'ng polictes. The financsal rewrting framework that has been appl￿ in their preparalion is appliCa￿e faw and Unitsd lQ"nydom Accc¥Jnb"ng St8ndards, induding Financial R¢porting Stsndard 102 The Financial Repo￿"r￿j St8ndard apphcable in the UK and RepublK of Ireland (United Kiiwim Generalty Ao>pted A(x3)urty p￿tte). In our opinion, the financial Strtem￿.. give a twe and fair view of the stste of the dwil•t* ¢))M￿lS *its a8 at 31 Mard) 2024 and of ts incoming ￿sOurceS and appkcalion of fesour¢es. for the year then ended., Basls for oplnion We o)nducted our 8￿j11 in ￿n¢e wilh Inteffla￿ SAandards A￿lI11th) (UK) IISAS (UK)) applicabl• law. Our i•spon3ibilities undèr those standards are ftjrther desuibed in theALhJito¢s respJnsibilities for the audit olthe account$ 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 acc￿nts in the UK. indudiThJ the FRC'S Ethical StandOTd, and we have fuffille)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 8greem*rt 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' respwbl1￿es. ￿ Trustees., who are alw the diredors of the Calpe House Limrted fNth& PLwpose of company law. are res￿51ble 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$8ry to enabfe the preparalim of finan¢ial statements that are free from material misststement, whether due lo fraud or effor. In prepariry the finarti81 statements. the Tnjstees. ￿ responsiblt assessing Calpe House Limited's abilty to conlinue ¥¥ a going corKem. disdoyng. as 8p￿1¢9b1e, mattels related to goiTh3 ioncem and using the goiThJ concem basis of accounb.ng unless the Trustees. either inteThJ to liquR1ate the charitable crynpany or to ce8se operations. or have no realistr allemalive lo do so. Auditorf¥ respornibilities for th• audlt of the fina￿1•1 statements We have been appointed as auditor under section 144 of the Charrf]¢s Ad 2011 and report in ?￿01darKe with the Act and relevant r¢gulalw)ns made or having effe(* ttweurhjer. Our objectives arè to obtain ￿aSOna￿e 8&8ur8nce atsxrt whtthw Ihe financial statements as a whole are frte from matefial misstatement. whether due to fraud or error. and to i8sue an auditorfs reFXMt that indudes our opinion. Reasonable assurance is a high level of assurance bLrt is not a guarantee that an audit conducted in accordance vhth ISAS (UK) will detect a material missti*enwrt when it exists. Misstatements can arise fr(wn fraud or error and are ¢on$idèred material if, inth*Jualty (K in the •39regate. they ccmjld reasonably be exFec*ed to influence A further descAiption of our rèsF*Jnsibilit*s f￿ the audit of the financlal stslèmth￿ is located on the F￿anCIal ReportiNJ Counol's website at.. htlpJlw*Ww.frc.org.uklaudrtors￿ponSlbiIrf￿. This dgsuipb'on fom)s part of our ¥uditofs rekwm. Exlent to which th• audlt was consldered c•yble of det•eting irr•wlarttles. I￿1UdIng fr¥ud lThegulawbt*s. 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 I￿egUlaritses. indLK1ing fraud, 1$ ¢Jetailed below. We planneil our au¢Jit so that we have a leaWnab￿ exp￿￿8￿1 of detec*"n9 material misstatements in the finanoal statements ￿ultIng from irrewlariknes. frathy nOn-¢￿￿lar￿e vnth L*v 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{a￿￿Trance with •pplKoblè and regulations. Enquiring of rnana9emènt of they are aware of any Mn-compliance wth laws and re9ulatbtin$. Enquiring of management vhther Ihey have of any aclual. su5pecled or sllW fraud. Erlquiring of management their intemal contrds eslabltsh•d to mwe risk related to fraud or nofv complrar with laws and reguLgti¢)ns. Discussions amngst the engagement team on h(MT and where fraud might rmr in the finanoal statements and ony polentral in(licatOf5 offraud. As part of t￿S discussion. we idenbfied the ￿￿tential for fraud in posting CALPE HOUSE LIMITED INDEPENDENT AUDITOR'S REPORT (coKfiNUED) TO THE TRUSTEES. OF CALPE HOUSE LIMITED of the unusual ioum¥s. Obtaining underslarxliry of the legal and regubtw fra￿￿th the group opeTrtes in fwsing on those kns and regulalions that hod a (*rect effad ￿ the fmanrAal statem•nts or ihat had 8 ftjndamental effect on th$ operations. The key •)d regulations we cOn*￿d 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 relatiC￿ShIpS or transact￿ns. Di8cussion with tnjstees and managen￿l as to where Itw there was s￿￿pIlly11fy to fraud, tt￿11 kn¢wAedge ol actual, SLtspecled and alw fraud. Confiryning cyjr undeTstandin9 01 COntr￿S by wlorming a watk-through test or observation and enquiry. Audiled the risk of fflan¥merrt overrvje of contrd$. indudiThJ thwh tesling iLwmal enlries for appropriateness and lar9e and unusual bank transackns. In res￿nSe to th¢ risk of Yregularibes and nc*H>)MFAl￿ Tmth and rtyuknlions requrrements, we designed procedures which induded, bLrt ar¢ not limited to: Agreeing financial statem8nt disdosures to S￿r¢￿Ing d￿ments110n. Enquiring of manapment as to a¢lual aThJ Wenbal ITbgatk)n daims. Reviemng ￿est wofft and loss ac£x)unt items ftyv4kkn> oflibgakn. The test nature and other inhgrent limitabon$ 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 undisC￿ered even thwh a￿111 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 r￿n-e￿￿1artt. Ourexaminatth therefore not be telied upon to dis¢lose 811 such material misstatements or frauds, errors lx inStar￿5 of compliance that might èxist. The respon$ibilty for safeguarding the assets of the company and for the 5x9venti￿ and d¢tecti￿ of fraud, error aThJ non-complian¢e with law or regulalions rests with the directors. U•e of our rnp This report is made solety to th¢ tharivs trustees. as a btrfty. in acccrfdarKe %bryth part 4 of the Charitie (Accounts and Reports) Reyulalions 2(￿. Ouraudit has been undertaken so thatwe might state to the charity's INslees those Matters we are required to st*e to them in an auditors. rewl and for no other purpose. To the fullest extent permitted by lth¥, do not accept or assume respon*"tslty to anyone olher than the chanty and the chaiity's trustees as a bo(ty. for a￿￿11 work. this repr￿1. oi for the opinicffjs we have fom*d. Crwer y￿J￿9 & Partners Ltd is elvjible to as an tenns of Sect￿ 1212 of the Cornpanies Acl 2CKfj. S￿(4 Manlsh S•nganl IS•nior Slatirtory A￿11 for and on b•half of COOP￿ Young & Parb*rn Ltd 01 Odobw2W24 Hunt¢r Htyjse 109 Snakes Lane V¥t5t ststsrtory AudStor Essex IG8 ￿y CALPE HOUSE LIMITED STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 T¢Xal Restricted Total funds funth 2024 Donats'ons and grants Charitable ac*vii*$ 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¢ Y￿rI Net movement in furn1• 101.021 (141.774) (40.753) 80,742 80,742 Fund balanc￿ at 1 Aprll 2023 Trar￿fer 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 I￿lJMe and exF¢ndrture derive from corknuY@ ac*¥fi￿. The statement of financaal 8cl1vib￿ aso cun[￿e$ wilh the requirements for an wKome aThJ eXp￿ditUre account under the Companies Acl 2￿6. 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 h￿￿1 810.113 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 fr￿d$ Revaluation reseThe 6.957.212 6,797,*5 232.629 7.189.841 72￿.594 The Trustees, acknowledge their resp(￿¥b￿l￿eS t(¥ ensurrKJ that the tharrty keeps ac£g)untirpJ records %thich tt*mFty 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 i￿￿Thing resources and applttbon ofresources. induding ils income and expentjiture. for the financial year in xcotdance the requirements of sedbms 394 and 395 and whid) othe￿ise 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 appliCa￿e lo coMpan￿S subject to the Sm￿1 wnpanies regime. The finanaal statements were approvfjd by the Trustees, ￿ 01 Odoi*r 2024. Mr Albert A Poggio OBRGMH Chairman IAr Jo8e Ju io Fina￿la1 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 InC￿F￿N￿ ￿ 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 $tat¢mènts have been ￿pared in ￿)1￿8￿ with Calpe H(yJse Limited's memorandum of assoriation, the CompanitrsAct 2(K6 ant1-Acowntirs and Repc*ting by Charilies". Statement of Recommended PraciKe aOicable to chaiitses p￿Paring their accxbunts ￿ a(¥x¥dan￿ wth the Finarrial Reporting Slandafd applicable in the UK and RepU￿¥C of Ireland {FRS 102)" leffedive l January 20191. The Calpe House Limited is a Publc Benefft Enlity as (lefir*d ty FRS 1ff2. Calpe House Limited has taken advantage Oftt￿ w0visK￿$ 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 st￿1n9. 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 hISt￿lc41 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 re8sty*4e eXpe￿at￿￿ 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$. 1.3 Charitsbltr funds Unrestricaed fvndSarea¥a￿ab1e kn useatthelli￿rètth of th*Trustees' in fUrtherar￿ of Calpe Houstr Limilerfs chantable obj'ectives unW the lurwjs hav• been deswled other purp)sgs and T*thik1 be designated as 'reslricléd funds,. Unfestricted fijnds irKJwJe a rtvaluatw)n rnser¥e reweseniry Ihe rest*￿ of fr•èh(Ad pwrty at market value. 1.4 Incorning reS¢ur￿$ In￿me 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 reQ￿niSed O￿t Calpe House Limrte(I h8s been notified of the grant and receipt is exFected. unless perfom)ance or des￿nall0n condrtK*)s require deferral of the arnounl. Expenditure is re￿nisedvh￿n 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. ExpeThYl￿re 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 (cont1n￿dI 1.8 Fund a¢￿Inting Unrestricted funds ￿ aVala￿et0 &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 HOl￿e Limiled. 1.7 Tanglbl• fixed amets Tangible ffixed assets a￿ inilialty measured at cost arwj then SL￿L• me8sured al cost or valu•titin, net ofdepreaation and any imwrn￿ losses. useful I￿e$ on the folkffHing bases.. Fumiture, r￿luTeS, 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￿(ex￿1ditUreI for the year. Fixe(l assets 8r• held at histoit cost le¥s aC0Jn￿Ia1èd d8￿erati￿ a￿1 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 revaIL￿a 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 res*knl valuè ts not eXp￿ted to bo 8ignrf*canty different to the carryirwJ w￿￿e. 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 iM￿l￿nent loss. If any s indication •xisls. the rec4)vera￿e 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 m￿e 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(rfnmitM￿ts as tw fall due. 12- CALPE HOUSE LIMrrED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Arx¢wnting polklo• (contin￿dI 1.12 FIna￿l￿1 in•trum•nts Calpe HoLffje Limit￿ onty has finwc4al a88et8 finaThia liatiliiies of o ki￿1 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 re￿nIs￿d w) the Ca* Hou8¢ Dmilerf$ ba￿rtt when cal￿ House Limited becomes poty totr* contr￿1 t*ovisions 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 lTr￿Ude detrtcrf3 and tash aThJ bank ba￿nCes, we irmlialty measured at transacbty) price induding transaction cosls and are subsaquenty caThied at amortisad cost usirBJ the effective Irts￿$t method unless the aThangefflent o)nstiiutes a firtar￿Thj tr8nsath•n, wh¢re the trar¢saclion is me8$ured at the present value of the fulure receipts discounted at a market rat¢ of wrterest. Financial assets dasSrf￿d a5 receivable wthin one year are not amortised. B•sk fina￿181 Imbilibos Basic finanual liabilibes. induthng cseditrys arhy b￿k 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 Sl￿￿￿enty ca￿1ed 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 SUppl￿r5. 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$ t*ntracaual (￿l98110n3 gxixre or are disthar9sd or cancdled. 1.13 Employ•* b￿￿fits 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 beF*ffts ar• re0)gr￿￿1 imm8di*•ty as ￿ expense Calpe H(wse ￿Mit0d is demonstrably committed to terniinate the emF10￿Y￿I of an employee or to wovide termination benefits. 1.14 R•tir•ment twwfits Payments to defin¢d O￿lributIon retirement b¢n8fft sd￿m￿ are d￿rge￿ 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 ap￿￿￿10￿ 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 assUnwti￿ts 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 peric*J. or in the period of the revision aThJ frjtwe wtwe the reV1$h￿ affeds both current and futu Property ValU￿10n since that date. The trt&8tees th) r#)t 0￿￿j¥r the ￿Then1 mwket to be m8twialty dfvrprrt to th& value disdosed. Tangil)le fix•d •SBets The Ltselul 9￿0M￿ INe3 ofrL¥Fcurrent assets [woF￿) Iwe teen ￿￿￿￿lfroM th&1￿￿t ofthe Donatlom and wants Tol*l 2024 Totsl 2023 furK Friends of Calp8 khxjse Gibrattar Health Authority fGHAI 13281 13281 26,348 13.281 13,281 27.292 A ￿ibutiOn of £13.281 IW23: £26.348} was m•Je in W24 by The Friends of Calpe Hw. During last year a OJntribtsti￿ of £944 was recoived from the GHA in ftdl subshly of Covi&19 related costs. Charltsbkn acd¥lti• 2024 Charitable •ctNitses {rTr)m dw9¢s) 692,345 572,165 2024 172 14- CALPE HOUSE LIMrrED NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 31 MARCH 2024 Other in¢omg 21.537 Other inwrno of£21.357 durirb3 lastyear rewesents a gxtessfijl daim for loss of rwtsl irK4)me and repairs lo guest room. 2024 20rJ Employment and staff D¢preaation 310.W2 61.025 269.671 60.882 13.X12 27,579 23,581 83,440 50,983 49.4 8.216 7,175 2,897 10.446 10.857 Insurance Repairs. maintenance and facditRs marh*Jwit Postage, statiorwy and mir•Jr office Teleph¢)ne and ir￿￿1 Travelling exkW￿eS Legal and wofessKThI Auditors. remuneration 9,337 1,911 13,437 Payroll admini$tratMM fees C￿nIng Bank itharges Subsoiptions Sundry expen8es se￿Inty 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)nr￿￿3 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 N￿ber 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 fin*Kyal p￿iCKl. 10 Tangible fixed a$80ts r4tlnp & CoJtlV#luation At l April 2023 Additions 17.xKI,rJxJ 365.848 40,036 I7.￿.884 949 At 31 March 2024 17.￿xI.[*￿) .848 40.985 17,9X,833 Deprnclation and knpairnwnt At 1 April 2023 Depreciation ¢harged in th& > 21.IXQ 6.148 54.877 61,025 At 31 2024 294.n7 27,1S7 321.894 ca￿yIng wnount At 31 March 2024 71.111 13.828 17.584,939 At 31 Mw¢h 21 17.51xJ.rxKI 125.988 19,027 17,645.015 16- CALPE HOUSE LIMrrED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 T•nglbl* fixed {C¢nlln￿d1 The •c￿n11ng pJlKy cw•r freehobj 1$ to Tellecl it at fair ¥81ue wilh ¥￿ValK)n$ undertaken by indepeThJenl valuers at regU￿r Inte￿15 on an OFen mwket value basKs by refere￿ to market evKlerw* of transacb.on prices for simil•r properties. 1￿23 N Land and buildiThJs are value(I based cffl the last rKofeS%￿I valuation ¢anied out in Juty 2018 adjLtsted for refurbishments arml iM￿lMIents since that date. Th• directors th) Tr)t 9>￿der the C￿eTrt value to t materillay drfferent to the net bcM)k value. The cost of Norfolk Square. induding refu￿1$1￿￿ ￿ othèr diredty attribulgd 9￿￿￿￿t￿re. amounted to £17.27 million. The revaluation reser¥e amounts to £232.629 in 1)r 111,519,264) 7,189.841 7.189.841 7,1)30.934 2LIJ,C(XJ 7,230,594 During the ye&r exlensive ￿paIrS and Maintenan￿ amounting to £142k were carT*d out to ensure that Norfolk Squafe rèmains in opts'mum o)ndiiion. The program was funded from the £2Crf)k ￿Stricted fvnd5 that ha¢J been don8ted by the Friends of Calpe House several yèar¥ ago speufically fot such purposes. the approval of The Fihtrnds of Calpe HouBe the balarKe of £58k has released to LuYe¥trKted futwjs. 16 ReJat•d party transactlonj There were no disclosable relatfjd party tranS*w￿$ 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 tak￿lOn of Charye8ble Gain ALX 1992 to the extent that these are appl￿d to its charrtable objects. 18 Pen8i¢)n commlbnents from those olttp company in an iThYependenlly adM￿lStered 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 Ir￿juded 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 ¢(Nnp￿Y undertakes lo o)rrtrAth to the assets ofthe (Yjmpany. in fv eV￿t of a winding up, such an 8mount as may be required nol eX(￿￿t￿j £1. 19-