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2024-12-31-accounts

REGISTERED CHARITY NUMBER: 1163224

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

HOME OF COMFORT

HOME OF COMFORT

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page
Report of the Trustees 1 to 6
Report of the Independent Auditors 7 to 9
Statement of Financial Activities 10
Balance Sheet 11
Cash Flow Statement 12
Notes to the Cash Flow Statement 13
Notes to the Financial Statements 14 to 21

HOME OF COMFORT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of the Charity remain those for which it was originally established in 1896: to manage a Nursing Home for the sick, providing charitable disbursement where necessary and thus providing care and comfort, alleviating need and distress.

About The Home of Comfort Nursing Home

The Home of Comfort was founded in 1896 by Mother Emma, Head Deaconess of the Winchester diocese (of which the present Portsmouth diocese was a part until 1927). She had become concerned about the many elderly people who, when ill and lonely, had no one to care for them, so she raised enough money to buy the original house (called "Dowran") and opened it as the Home of Comfort for the Dying on St Andrew's Day, with just twelve residents.

The Home was originally registered as a Trust in 1909, and in 2019 it was incorporated as a Charitable Incorporated Organisation. These changes have been made so that, as far as possible, the Home can continue to carry out Mother Emma's wishes.

Today, as a Nursing Home, we provide 24-hour nursing care, with at least one registered nurse on duty day and night, and we are fully equipped to meet the needs of our residents. The Home is registered with the Care Quality Commission and is a member of the Registered Nursing Home Association and of the Hampshire Care Association.

Each of our residents has their own room, fully furnished; they may, if they wish, bring small items of their own furniture and have their own telephone and television. We have a light, sunny day-room and a larger dining room where activities such as parties, singing and bingo take place. Meals, all of which are prepared in house, may be served where-ever a resident prefers to have them.

Friends and relatives are welcomed, and we encourage their involvement in the lives of our residents. Our policy is to provide care and comfort for elderly people, supporting them to return to the community if possible, and nursing them to the ends of their lives if not. We hope we shall be able to continue doing this for many years to come.

Admission to the Home of Comfort

The Home of Comfort is open to potential residents of all backgrounds and to those who need respite care as well as to permanent residents.

Our historic association with the Anglican Church remains part of our heritage and is in the minds of many who chose to come and live at the Home. Although there are no longer morning prayers or compulsory weekly services, we hold a monthly Communion Service at which all are welcome.

Through the support of the Charitable Trust, the Home supports those who do not have funds to pay for their own care to receive the same standard of support as those who are self-funding.

OBJECTIVES AND ACTIVITIES

Activities of the Charity

The activities of the Home are regulated by the Care Quality Commission, and the Trustees and Management are responsible for ensuring that the Home meets the requirements of the CQC.

The management of the Home involves the employment of a large number of staff including nursing staff, carers, domestic staff and management.

It also requires the appropriate maintenance of the fabric and structure of the building owned by the Home, from which it operates.

Page 1

HOME OF COMFORT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

OBJECTIVES AND ACTIVITIES Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. The trustees refer to public benefit throughout this report.

The Home of Comfort is a registered Charity whose Charitable Purposes are:

"The relief of those in need by reason of age, ill health or terminal illness by such means as providing a nursing home and such other services and facilities as the charity trustees may from time to time determine. The charity trustees shall give preference to beneficiaries who are or who were formerly ordained or lay ministers of the Church of England or other workers connected with the Church of England."

Thus, public benefit is provided through the operation of the Home, at a time when good quality nursing home provision in the local area is in short supply, and in the provision of bursaries.

The Home provides bursaries to those residents whose care is funded by local authorities at a rate lower than the Home's usual rates. In such a way, the Home ensures that those who do not have funds of their own, or relatives able to pay for their care, have the opportunity to receive high quality nursing care without having to leave the area in which they wish to live and where they have family.

The charity was founded with the same objects as it's predecessor, Home of Comfort for Invalids (Registered no 202191), and the wording of those objects was amended in 2020 with the consent of the charity commission to simplify it a little and to include 'other workers connected with the Church of England' as well as those who have been ministers.

ACHIEVEMENT AND PERFORMANCE Performance during the year

The Home made use of staff agencies to manage this period of sickness, but with considerable uncertainty and rapidly changing advice, the winter time were particularly challenging.

With the increase of the cost of living, we have seen a major increase in electricity, gas and the food bills. This is inevitable and many homes in the area have closed due the increase of the cost of living.

During this period of transition, the Trustees expect the Home to be loss making due to reduced fees. They are also mindful that there are a number of areas where investment needs to be made in the fabric of the building to ensure it remains attractive to those looking for care.

Funded Nursing care (FNC) has made changes to the way they are accepting referrals, they now have two forms to complete, one is the referral and the other in a consent form in which say for instance we have a resident who lacks capacity this form needs to be signed by the power of attorney, the problem lies that not all power of attorneys are local and getting a physical signature can take time, we recently were told that we could have this discussion over the phone and note that the family is aware that we will apply for FNC funds on the behalf of the resident. Going forward this will work but we experienced some cash flow problems due to this.

Activities During 2024

Running activities for residents during the last three years has been very challenging, and a number of permanent and temporary staff has worked hard to make sure that we have some provision of one-to-one activities. These have included inviting outside entertainment in on a regular basis. We have no visiting restrictions. We have some volunteers to help out with activities as a top up to helping with activities.

Premises Improvements During 2024

We had to replace our flat roof in 2024, we had some fire door work as well as some flooring placed in rooms that need new flooring.

Page 2

HOME OF COMFORT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

FINANCIAL REVIEW

A review has been taken of the financial position of the Charity and has proved to be satisfactory in all respects. Expenditure has exceeded income by £236,811 this year which includes unrealised gains on investments of £56,481. Although nursing and caring income has increased due to the increased room rates, expenditure has also increased due to increasing staff costs and the costs of maintenance and improvements to the buildings.

The principal funding sources of the Home are residents' fees, donations and legacies sufficient to cover all expenditure incurred. Fees received for social services patients are less than private patients, with the shortfall being subsidised by the Home. The cost to the Home for these subsidies in 2024 was £202,370 (2023: £179,338).

The Home has an investment portfolio which is managed by Aberdeen Standard (the partner of CAF bank). The funds are invested in a low risk category providing a balance between income and growth. The balance of the Home's portfolio as at 31 December 2024 had decreased to £618,794 (2023: £805,130).

The Home also has approximately £17,000 (2023: £16,000) placed on short term notice deposit accounts.

Reserves

The Charity has always had a policy of retaining sufficient reserves to cover any major structural works to the property, bearing in mind the building is over 120 years old. Although they should run for many years, systems such as the heating and hot water, and also the two lifts, are extremely expensive to replace when this becomes necessary. The Trustees feel it is essential to maintain reserves that would cover any contingency that should arise with the building or facilities at the Home.

Reserves are also necessary for the day-to-day running of the Home's operations, in case of late payment by a major customer (Portsmouth City Council) or other contingency or emergency.

The Trustees feel the levels of reserves are sufficient for the Home to fulfil its objectives.

Investment Powers

The Charity has the power to make any investment which the Trustees see fit.

Risk Management

The Trustees have identified the principal risks to the Charity and documented these in the Reserves and Investment policy, which aims to ensure that sufficient reserves are held to mitigate those risks.

The risks identified may be summarised as:

The Home has a Business Continuity Plan in place and regularly reviews measures that can reduce both the likelihood of any of the above, and their potential impact.

FUTURE PLANS

The Trustees have a Development Plan for the Charity and the Home these should be discussed in the future, we would need new roofing, a new nurse call system. We also need to be replacing beds.

Page 3

HOME OF COMFORT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The governing document is a Constitution based on the Charity Commission model for a CIO.

Recruitment and appointment of new trustees

The appointment and recruitment of new Trustees is by personal recommendation by existing Trustees. The Home has a written policy setting out the process of recruitment and induction of new Trustees.

Organisational structure

The organisational structure of the charity is made up of a Board of Trustees and two managers (the Matron and Administration Manager). Major decisions are taken by Trustees (e.g. major capital expenditure, changes to key policy), and day to day operational decisions by the Matron and Administration Manager, with support as appropriate.

The Board of Trustees meets approximately six times a year to receive financial, maintenance, residents and other reports from the Matron and the Administration Manager, and to review the implementation of budgets and strategy.

Induction and training of new trustees

Induction of a Trustee takes place at an interview before their appointment, and at the initial Trustees meeting attended by the new Trustee; copies of Charity Commission literature and information about the Home are provided according to the Home's policy on the recruitment of new Trustees. The Home has arranged training for Trustees in Charitable Governance and in relevant clinical matters.

Key management remuneration

In setting appropriate levels of remuneration for the key management personnel at the Home, the Trustees consider rates of pay for equivalent positions both within the Nursing Home sector and in other related positions. This is done by observing job advertisements in Nursing publications and online, checking published NHS rates of pay, and speaking informally to representatives from other Homes and to other clinical personnel.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1163224

Principal address

17 Victoria Grove Southsea Hampshire PO5 1NF

Trustees

M S Smy (Chair) D Day (Hon Treasurer) Resigned October 2024 S King Rev. G Evans-Harris D Bridger Resigned January 2024 R Lawson

Administration Manager

C Silva

Matron & CQC Registered Manager

D Anil

Page 4

HOME OF COMFORT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

REFERENCE AND ADMINISTRATIVE DETAILS

Auditors

MC Audit Limited Statutory Auditors Station House North Street Havant Hampshire PO9 1QU

Bankers

CAF Bank 25 Kings Hill Avenue West Malling Kent MR19 4JQ

Solicitors

Lester Aldridge Russell House Oxford Road Bournemouth BH8 8EX

Investment Portfolio Managers

Aberdeen Standard 280 Bishopsgate London EC2M 4AG

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 5

HOME OF COMFORT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

Approved by order of the board of trustees on ............................................. and signed on its behalf by: 16 July 2025

................................................................. R T Lawson - Trustee

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HOME OF COMFORT

Opinion

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

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HOME OF COMFORT

Responsibilities of trustees

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

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

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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

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

From discussion with management and those charged with governance information about the entity is documented to assess the activity within the organisation. We discuss management's assessment of risk in respect of irregularities, fraud and going concern.

Based on these discussions and our own assessments we determined that the key risk areas were income recognition in respect of cut off issues and management override concerning the size of the organisation.

We set financial statement materiality level based on the level of income. As a not for profit organisation raising income is its primary focus which is why income was used to determine the level of materiality. Our overall assessment of risk was used to determine performance materiality at an appropriate level.

Substantive audit tests were designed after assessing and performing walkthrough tests. The walkthrough testing confirmed documented systems which have been designed to act as a preventative measure against fraud and error which appear to be operating as documented. Substantive testing tested a sample of the population, representative of the population, to identify errors. The testing did not identify any material misstatements in areas tested.

Audit substantive tests concluded no material errors over the key risk areas of income recognition and management override.

The audit considers the organisation is not exposed to material risk of error as a result of assessing laws and regulations that are appropriate to the organisation.

Management assessed there is no going concern risk.

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

Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HOME OF COMFORT

Use of our report

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

for and on behalf of MC Audit Limited Statutory Auditors Station House North Street Havant Hampshire PO9 1QU

Date: ............................................. 1 August 2025

Page 9

HOME OF COMFORT

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Nursing and caring
Investment income
3
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
Nursing and caring
Total
Net gains on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
777
1,867,680
88
1,868,545
2,818
2,159,019
2,161,837
56,481
(236,811)
902,192
665,381		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-		 2024
Total
funds
£
777
1,867,680
88
1,868,545
2,818
2,159,019
2,161,837
56,481
(236,811)
902,192
665,381		 2023
Total
funds
£
559
1,645,018
188
1,645,765
2,238
1,962,410
1,964,648
59,073
(259,810)
1,162,002
902,192

The notes form part of these financial statements

Page 10

HOME OF COMFORT

BALANCE SHEET 31 DECEMBER 2024

Notes
FIXED ASSETS
Tangible assets
12
Investments
13
CURRENT ASSETS
Debtors
14
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
17
Unrestricted funds
TOTAL FUNDS		 2024
£
98,186
618,794
716,980
36,920
40,014
76,934
(128,533)
(51,599)
665,381
665,381
665,381
665,381		 2023
£
103,990
805,130
909,120
29,170
45,050
74,220
(81,148)
(6,928)
902,192
902,192
902,192
902,192

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 16 July 2025

............................................. R T Lawson - Trustee

The notes form part of these financial statements

Page 11

HOME OF COMFORT

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 2024
£
(239,138)
(239,138)
(8,803)
-
242,817
88
234,102
(5,036)
45,050
40,014		 2023
£
(299,393)
(299,393)
(2,865)
(876,400)
1,148,638
188
269,561
(29,832)
74,882
45,050

The notes form part of these financial statements

Page 12

HOME OF COMFORT

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement
of Financial Activities)
Adjustments for:
Depreciation charges
Gain on investments
Interest received
Increase in debtors
Increase in creditors
Net cash used in operations		 2024
£
(236,811)
14,607
(56,481)
(88)
(7,750)
47,385
(239,138)		 2023
£
(259,810)
19,277
(59,073)
(188)
(4,138)
4,539
(299,393)

2.

ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24
Cash flow
At
£
£
Net cash
Cash at bank and in hand
45,050
(5,036)
45,050
(5,036)
Total
45,050
(5,036)		 31.12.24
£
40,014
40,014
40,014

The notes form part of these financial statements

Page 13

HOME OF COMFORT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The Charity constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties regarding the charity's ability to continue as a going concern. At the year end the charity has net liabilities. In January 2024 a small part of the investment portfolio was disposed of to fund cash flow in 2024.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost Improvements to property - 10% on cost Fixtures and fittings - 20% on cost

Individual fixed assets costing £500 or more are capitalised at cost.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Page 14

continued...

HOME OF COMFORT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES - continued

Financial instruments

The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable investments in stocks and shares. The measurement basis used for these instruments is detailed below.

Fixed asset investments

Investments are stated at market value as at the balance sheet date. The Statement of Financial Activities include the net gains and losses arising on revaluation and disposal throughout the year.

Debtors and cash at bank

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash held on deposit or in a current account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Realised gains and losses

All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (or purchase date if later).

Bursaries

In order that persons on a lower income can benefit, Bursaries are awarded to those residents who are unable to meet the full cost of fees. The difference between the fees payable and the amount received from local authorities is shown as Bursaries in the financial statements.

2. DONATIONS AND LEGACIES

2024 2023
£ £
Donations 777 559

The charity benefits greatly from the involvement and enthusiastic support of its many volunteers. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.

3. INVESTMENT INCOME

INVESTMENT INCOME
2024 2023
£ £
Deposit account interest 88 188

All investment income is derived from assets held in the United Kingdom.

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continued...

HOME OF COMFORT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

4. INCOME FROM CHARITABLE ACTIVITIES

Activity
Fees
Nursing and caring
Other incoming resources
Nursing and caring
5.
RAISING FUNDS
Investment management costs
Portfolio management
6.
CHARITABLE ACTIVITIES COSTS
Nursing and caring
7.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Agency costs
Sundries
Provisions
Medical and comfort supplies
Staff advertisements and training
Staff uniforms
Registration fee
Bursaries
8.
SUPPORT COSTS
Nursing and caring		 Direct
Costs (see
note 7)
£
1,814,226
Management
£
321,637		 2024
£
1,866,454
1,226
1,867,680
2024
£
2,818
Support
costs (see
note 8)
£
344,793
2024
£
1,444,343
47,633
27,345
67,006
13,215
2,710
1,683
7,921
202,370
1,814,226
Governance
costs
£
23,156		 2023
£
1,636,128
8,890		 2023
£
1,636,128
8,890
1,645,018
2023
£
2,238
Totals
£
2,159,019		 2023
£
2,238
2023
£
1,297,929
47,757
18,686
66,721
13,829
7,472
2,784
5,271
179,338
1,639,787
Totals
£
344,793

Page 16

continued...

HOME OF COMFORT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

8. SUPPORT COSTS - continued

Support costs, included in the above, are as follows:

Management

Wages
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Repairs and renewals
Cleaning
Legal and professional
Bank charges
Depreciation of tangible assets
Governance costs
Wages
Audit fees
Auditors' remuneration for non audit
work		 2024
Nursing
and
caring
£
107,199
6,993
13,124
86,278
8,468
2,519
64,910
11,692
5,675
173
14,606
321,637
2024
Nursing
and
caring
£
14,850
6,439
1,867
23,156		 2023
Total
activities
£
102,288
7,981
12,585
58,330
5,459
3,519
74,486
15,527
349
99
19,277
299,900
2023
Total
activities
£
14,436
6,264
2,023
22,723

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Trustees' expenses

During the year no (2023: one) trustee was reimbursed out of pocket expenses.

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10. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2024
£
1,431,642
107,268
27,482
1,566,392		 2023
£
1,294,174
95,668
24,811
1,414,653

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

Direct
Management		 2024
59
2
61		 2023
59
2
61

No employees received emoluments in excess of £60,000.

The average number of full-time equivalent employees (including casual and part-time staff) during the year was 40 (2023: 40).

The Charity considers its key management personnel comprise the trustees, the Administration Manager and the Matron & CQC Registered Manager. The total employment benefits including employer pension contributions of the key management personnel were £122,049 (2023: £116,724).

The Administration Manager's salary has been classified as partly charitable activities expenditure and partly governance costs.

11.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
559
Charitable activities
Nursing and caring
1,645,018
Investment income
188
Total
1,645,765
EXPENDITURE ON
Raising funds
2,238
Charitable activities
Nursing and caring
1,962,410
Total
1,964,648
Net gains on investments
59,073
NET INCOME/(EXPENDITURE)
(259,810)		 Restricted
funds
£
-
-
-
-
-
-
-
-
-		 Total
funds
£
559
1,645,018
188
1,645,765
2,238
1,962,410
1,964,648
59,073
(259,810)

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
12.
TANGIBLE FIXED ASSETS
COST
At 1 January 2024
Additions
Disposals
At 31 December 2024
DEPRECIATION
At 1 January 2024
Charge for year
Eliminated on disposal
At 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023		 Unrestricted
funds
£
1,162,002
902,192
Improvements
Freehold
to
property
property
£
£
151,514
128,381
-
8,262
-
(1,842)
151,514
134,801
77,255
102,863
3,031
8,503
-
(1,842)
80,286
109,524
71,228
25,277
74,259
25,518		 Restricted
funds
£
-
-
Fixtures
and
fittings
£
116,401
541
(13,129)
103,813
112,188
3,073
(13,129)
102,132
1,681
4,213		 Total
funds
£
1,162,002
902,192
Totals
£
396,296
8,803
(14,971)
390,128
292,306
14,607
(14,971)
291,942
98,186
103,990

All the above assets are used for the direct furtherance of the charity's objectives.

13. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Listed
investments
£
MARKET VALUE
At 1 January 2024 805,130
Disposals (242,817)
Revaluations 56,481
At 31 December 2024 618,794
NET BOOK VALUE
At 31 December 2024 618,794
At 31 December 2023 805,130

There were no investment assets outside the UK.

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14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors
Prepayments and accrued income
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes
Other creditors
Accrued expenses
16.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Restricted
funds
funds
£
£
Fixed assets
98,186
-
Investments
618,794
-
Current assets
76,934
-
Current liabilities
(128,533)
-
665,381
-
17.
MOVEMENT IN FUNDS
At 1.1.24
£
Unrestricted funds
General fund
902,192
TOTAL FUNDS
902,192
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
1,868,545
(2,161,837)
TOTAL FUNDS
1,868,545
(2,161,837)

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above
Incoming
resources
£
Unrestricted funds
General fund
1,645,765
TOTAL FUNDS
1,645,765		 At 1.1.23
£
1,162,002
1,162,002
are as follows:
Resources
expended
£
(1,964,648)
(1,964,648)		 Net
movement
in funds
£
(259,810)
(259,810)
Gains and
losses
£
59,073
59,073		 At
31.12.23
£
902,192
902,192
Movement
in funds
£
(259,810)
(259,810)

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2024.

19. ULTIMATE CONTROLLING PARTY

The Charity is under the control of its Trustees. No one Trustee has sufficient control over the Charity.

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