**Charity registration number 1167524**
**W J YAPP BEQUEST - DERBYSHIRE HOUSE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mrs G Raffle (Vice Chair) Mr J Hooley Dr T Kelly (Chair and Registered Provider) Mrs L Hallam R Pharaoh (Appointed 31 October 2023) P Burns (Appointed 31 October 2023) J Spencer (Appointed 31 October 2023) **Executive Staff** Mrs S Smith (Registered Manager) Miss A Remzi (Administrator) **Charity number** 1167524 **Principal address** Derbyshire House Station Road East Leake Loughborough Leicester LE12 6LQ **Auditor** Rogers Spencer Newstead House Pelham Road Nottingham NG5 1AP **Bankers** Lloyds Bank plc 12-16 Lower Parliament Street Nottingham NG1 3DA **Investment advisors** Brewin Dolphin 1st Floor Waterfront House Waterfront Plaza 35 Station Street Nottingham NG23DQ
## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 5|
|Statement of Trustees' responsibilities|6|
|Independent auditor's report|7 - 9|
|Statement of financial activities|10 - 11|
|Balance sheet|12|
|Statement of cash flows|13|
|Notes to the financial statements|14 - 25|
## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
The Trustees present their annual report and financial statements for the year ended 31 March 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016)
## **Objectives and activities**
The object of the Charity is to provide residential accommodation for anyone over the age of 65 in need of physical, and/or emotional care and support. We are also able to support some people with mental health frailty providing this is not assessed as a primary need.
This object is achieved by the provision of residential care in Derbyshire House at East Leake, Loughborough, Leicestershire. The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives of the Charity and in planning future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.
Activities undertaken by the charity to further its charitable purposes for the public benefit can include social events, often inviting members of the local community; provision of trips, exercise activities, Christmas gifts etc at no extra charge to residents. Staff have undertaken extra training to facilitate provision of ear irrigation and some phlebotomy services within the home.
Our aim is to encourage a life that is normal and individual where freedom to make choices and decisions about daily living is afforded and independence is encouraged. This is achieved by providing a residence without unnecessary rules and regulations and a regard for people’s needs so that each person can feel valued as individual human beings. We believe the home should be a place where companionship and positive social interactions flourish.
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## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **Achievements and performance**
W J Yapp Bequest is a non-profit making Charitable Incorporated Organisation, operating Derbyshire House, a purpose-built residential care home. Derbyshire House is registered to provide single occupancy accommodation for up to 31 older people requiring physical, emotional and some mental health support and care to meet individuals’ whole needs.
Details about the home and the facilities that it provides are available on the web-site www.derbyshirehouse.org.uk or, in current times, more recent up to date information from the registered manager registeredmanager@derbyshirehouse.org
The home receives Quality Audits from the Local Authority, CQC and Infection Control. As well as inspections from the Environmental Health, Fire Officer and Health and Safety Executive.
We also pride ourselves on additional awards achieved through High Standards which include GSF (Gold Standards Framework), Cinnamon Trust, Investors in people and the DQM (Dementia Quality Mark).
Our up to date Quality Audits and Inspections are:
- CQC over all rating of Outstanding which is the highest standard awarded by this governing body. The outstanding areas were achieved in well-led and responsive sections and this was awarded in January 2019. CQC carried out a review inspection in January 2022 and they found no evidence that would suggest a need for an inspection or to reassess the prior rating.
- Derbyshire house currently holds a 5-star rating with the Local Authority who carried out a Quality Audit in November 2021 and of the 20 sections of observation we received 20 excellent ratings.
- Derbyshire house received a quality Audit from Infection Control in April 2023 where the only recommendations were for small and minor areas.
- Derbyshire house last inspection from environmental health saw the home with a 5-star rating in September 2023
- The Fire Officer Inspection took place in December 2022 followed by subsequent visits after recommendations were made, this was backed up by a full home independent risk assessment which we are working through.
- The Health and Safety inspection took place in March 2023 where we passed with high standards and few recommendations.
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## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
In addition to this the home has received the following awards:
Dementia Quality Mark (DQM) – for our approach to feelings-based care, interaction and support to people who have a dementia – we received a score of 25/25 outcomes 2022 - 2024.
GSF (Gold Standards Framework) – for our approach to end of life care and support and helping people to live well until they die – we were awarded the Platinum status in August 2022 and a nominee for care home of the year 2022.
Investors in People – In March 2022 we received a Gold Award against the new and higher standards of Investors in people which recognises standards in people management and defines what it takes to lead, support and manage people as well as measuring how we champion the business within the local community and the benefits of working for the home using benchmarking and feedback
Cinnamon Trust – the home holds 5 stars for its approach and care of pets and animals and how we use animals as therapy for people. This is reviewed yearly and we have been shortlisted twice for best home.
Following the devastating effects of COVID-19, Derbyshire House has been able to build up and now has just one room unoccupied. In the context of the national shortage of care staff, we are careful to ensure that rooms are only filled when we are satisfied that the needs of new residents can be met with the right level and calibre of staff. The home has a healthy waiting list and also considerable interest for day care, which we have been able to start to gradually re-introduce. We are hopeful that we will be able to build back up the staffing levels, but careful to ensure that the staff employed are right and have the attitude and skills required to deliver the high standards expected. To date our rotas reflect 4 vacancies, and we are working towards filling these.
## **Financial review**
Derbyshire House maintained a good level of occupancy, generating fee income of £1,368,760 (2022: £1,175,011). Taking into account grants and donations received, operations income amounted to £1,376,990 (2022: £1,181,250). Operating expenditure was £1,378,878 (2022: £1,194,029) giving an operating deficit of £1,888 (2022: £12,779). Total overall income of £1,403,127 (2022: £1,220,515) includes investment and rental income. Total expenditure of £1,383,676 (2022: £1,199,186) includes investment management costs. When gains on investments of £41,775 (2022 gains of £31,633) are taken into account, the overall net deficit for the year is £22,324 (2022 surplus £52,962).
The balance sheet shows a satisfactory position with total funds of over £3.4m (2022: £3.4m) of which £2.2m (2022: £2.2m) relates to the freehold building of Derbyshire House.
Fees are set to cover operating and maintenance costs and take account of investment income. A reserve is maintained in order to cover against the risk of not meeting the Trustees’ target occupancy rate. The residents are expected to meet the fees from their own funds or, if eligible for funding by the local authority, with a third party top up if required. Where circumstances are such that a prospective resident may not be able to fund their stay to a required rate the Trustees are able, in accordance with our charitable status, to help a limited number of residents each year. For the year under review, there was reduced occupancy. The percentage of residents during the year that were part funded by the local authority was 22.22%.
The Trustees are given unlimited investment powers under the governing Document. The investments held by the charity are held by Brewin Dolphin on a discretionary management basis. The Trustees’ policy on investments is to equate capital growth with the need for income. Allowing for the movement of funds realised the value of the investments under management has shown a small decrease over the year. The Trustees monitor the investment portfolio regularly.
The value of the investment property at Old Hall Gardens stands at £120,000 (2022: £120,000).
In the opinion of the Trustees the market value of the freehold property at 31st March 2022, exceeds the value at which it is stated in these accounts. The Trustees do not believe themselves adequately qualified to quantify this surplus nor do they consider the costs of a professional valuation are justified.
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## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **Reserves Policy**
The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) held by the charity should be between 3 and 6 months expenditure, which equates to £350,000 to £700,000 in general funds. At this level, the Trustees feel that they would be able to continue the current activities of the charity in the event of a significant drop in income. The free reserves amount to £1,048,140 (unrestricted reserves less tangible fixed assets) and therefore meet the required level of reserves.
## **Risk management**
The Trustees undertake ongoing review of the major risks to which the charity is exposed and systems have been established to mitigate those risks. Significant external risks to income are continually reviewed to ensure that occupancy levels are maintained and that local authority requirements are met. Internal risks are minimised by the implementation of procedures for authorisation of all transactions to ensure consistent quality of delivery for all operational aspects of the charity. These procedures are periodically reviewed to ensure that they still meet the needs of the charity. Since the start of the Covid19 pandemic, risk assessments have been amended as necessary according to prevailing current guidelines.
## **Plans for future periods**
The intention of the Trustees is to regain full occupancy of the home, a healthy waiting list, general interest levels in the home and all the current high inspection ratings.
At present we have staff to fulfil the needs of the residents as per our dependency calculator and we are working on employing more staff to build back up our staff team.
Derbyshire House has always prided itself on providing residents with facilities and activities that benefit both the emotional and social needs of people as well as physical ability. Over the past year we have been able to make improvements to the external areas of the home, and invest in updating fire prevention measures.
To maintain high standards, progress is being made towards improving achievements, which involves training, support and dedication. The Trustees feel this will maintain and hopefully improve the high standards we have so far achieved and enable us to continue to provide a quality standard of living for the people in our care.
## **Structure, governance and management**
The undertaking and assets of The WJ Yapp Bequest, an unincorporated charity number 232860, was transferred to this charity (Charitable Incorporated Organisation registered number 1167524) on 1 April 2017.
The W J Yapp Bequest is a registered Charity, No.1167524, being a Charitable Incorporated Organisation, registered as a Foundation on 7 June 2016. The Trust's Trustees, and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the Trust on a day to day basis. All Trustees give their time freely and no Trustee received remuneration in the year. There were no Trustees expenses and/or related party transactions as stated in note 7 of the accounts.
At present there are 7 Trustees, on appointment new Trustees will become familiar with the practical work of the charity after reading the Annual Report and will have received a copy of the governing document and the latest financial reports. They will also meet with the Registered Manager, Administrator and existing Trustees as well as being offered opportunities to talk to the staff.
The Trustees who served during the year and up to the date of signature of the financial statements were: Mrs G Raffle (Vice Chair) Mr J Hooley Dr T Kelly (Chair and Registered Provider) Mrs L Hallam R Pharaoh (Appointed 31 October 2023) P Burns (Appointed 31 October 2023) J Spencer (Appointed 31 October 2023)
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## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
Additionally, they are invited to attend induction training which covers the following areas:
- The Policy and Practice Guide
- Training and Support
- Roles and Responsibilities
- Knowledge
- Communication
- Best Practice Guides
All Trustees are signposted to any other relevant training throughout the year.
The pay of the senior staff is reviewed annually and increased accordingly. In view of the nature of the charity, the Trustees may benchmark against pay levels in other Charitable, comparable residential homes of a similar size.
The Trustees' report was approved by the Board of Trustees.
..............................
Dr T Kelly (Chair and Registered Provider) **Trustees**
Date: .............................................
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## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **INDEPENDENT AUDITOR'S REPORT**
## **TO THE TRUSTEES OF W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **Opinion**
We have audited the financial statements of W J Yapp Bequest - Derbyshire House (the ‘charity’) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the charity’s affairs as at 31 March 2023 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the Trustees' report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
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## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **Responsibilities of Trustees**
As explained more fully in the statement of Trustees' responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they 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 cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed as auditor 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 an auditor's report 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.
- Ensuring that the Audit Team had the appropriate competence and capabilities to identify or recognise noncompliance with laws and regulations, with specific susceptible areas (e.g. investment valuation) having been outlined at the planning stage.
- Enquiry of management and those charged with governance around actual and potential litigation and claims and fraudulent transactions.
- Reviewing minutes of meetings of those charged with governance.
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
## **Other matters**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.
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## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **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 auditor's 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.
**Melvin Bailey FCCA DChA (Senior Statutory Auditor) for and on behalf of Rogers Spencer**
.........................
**Chartered Accountants Statutory Auditor**
Newstead House Pelham Road Nottingham NG5 1AP
Rogers Spencer is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
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## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
|**Current financial year**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
1,353
6,877
Charitable activities
**4**
1,368,760
-
Rental income
6,075
-
Investments
**5**
20,062
-
Other income
**6**
-
-
**Total income**
1,396,250
6,877
**Expenditure on:**
Raising funds: investment management fees
4,798
-
Charitable activities
**7**
1,375,486
3,392
**Total expenditure**
1,380,284
3,392
Net gains/(losses) on investments
**11**
(41,775)
-
**Net (expenditure)/income for the year/**
**Net movement in funds**
(25,809)
3,485
Fund balances at 1 April 2022
3,409,284
27,269
**Fund balances at 31 March 2023**
3,383,475
30,754|**Total**
**2023**
**£**
8,230
1,368,760
6,075
20,062
-
1,403,127
4,798
1,378,878
1,383,676
(41,775)
(22,324)
3,436,553
3,414,229|**Total**
**2022**
**£**
6,239
1,175,011
5,695
13,970
19,600|
|---|---|---|
|||1,220,515|
|||5,157
1,194,029|
|||1,199,186|
|||31,633|
|||52,962
3,383,591|
|||3,436,553|
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **Prior financial year**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
2,452
3,787
Charitable activities
**4**
1,175,011
-
Rental income
5,695
-
Investments
**5**
13,970
-
Other income
**6**
19,600
-
**Total income**
1,216,728
3,787
**Expenditure on:**
Raising funds: investment management fees
5,157
-
Charitable activities
**7**
1,189,186
4,843
**Total expenditure**
1,194,343
4,843
Net gains/(losses) on investments
**11**
31,633
-
**Net (expenditure)/income for the year/**
**Net movement in funds**
54,018
(1,056)
Fund balances at 1 April 2021
3,355,266
28,325
**Fund balances at 31 March 2022**
3,409,284
27,269|**Total**
**2022**
**£**
6,239
1,175,011
5,695
13,970
19,600|
|---|---|
||1,220,515|
||5,157
1,194,029|
||1,199,186|
||31,633|
||52,962
3,383,591|
||3,436,553|
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## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2023**_
|**Notes**
**Fixed assets**
Tangible assets
**14**
Investment property
**13**
Investments
**15**
**Current assets**
Debtors
**16**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**17**
Net current assets
**Total assets less current liabilities**
**The funds of the charity**
Restricted income funds
**19**
Unrestricted funds|**2023**
**£**
**£**
2,335,335
120,000
611,101
3,066,436
17,040
564,772
581,812
234,019
347,793
3,414,229
30,754
3,383,475
3,414,229|**2022**
**£**
**£**
2,218,417
120,000
658,529
2,996,946
11,603
517,350
528,953
89,346
439,607
3,436,553
27,269
3,409,284
3,436,553|**2022**
**£**
**£**
2,218,417
120,000
658,529
2,996,946
11,603
517,350
528,953
89,346
439,607
3,436,553
27,269
3,409,284
3,436,553|
|---|---|---|---|
||||2,996,946
439,607|
||||3,436,553|
||||27,269
3,409,284|
||||3,436,553|
The financial statements were approved by the Trustees on .........................
.............................. .............................. Mrs G Raffle (Vice Chair) Dr T Kelly (Chair and Registered Provider) **Trustee Trustee**
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## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **STATEMENT OF CASH FLOWS**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
|**2023**
**Notes**
**£**
**£**
**Cash flows from operating activities**
Cash generated from operations
**24**
250,318
**Investing activities**
Purchase of tangible fixed assets
(196,840)
Purchase of investments
(74,489)
Proceeds on disposal of investments
68,433
**Net cash used in investing activities**
(202,896)
**Net increase in cash and cash equivalents**
47,422
Cash and cash equivalents at beginning of year
517,350
**Cash and cash equivalents at end of year**
564,772|**2022**
**£**
(89,155)
(18,393)
23,549|**£**
124,297
(83,999)
40,298
477,052
517,350|
|---|---|---|
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## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **Charity information**
W J Yapp Bequest is a Charitable Incorporated Organisation in the United Kingdom. The address of the principal office is Derbyshire House, Station Road, East Leake, Loughborough, Leicester, LE12 6LQ.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 14 -
## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Expenditure**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs 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 the resources.
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Costs of raising funds comprise the promotional costs to the charity.
- Expenditure on charitable activities includes all costs undertaken to further the purposes of the charity and their associated support costs, including costs of governance.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings 1% and 10% straight line Fixtures and fittings 20% reducing balance Motor vehicles 25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Investment properties**
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
## **1.8 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## **1.9 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.10 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 15 -
## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.11 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.12 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.13 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.14 Government grants**
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
- 16 -
## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|---|---|
||**funds**|**funds**||**funds**|**funds**||
||**2023**|**2023**|**2023**|**2022**|**2022**|**2022**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Donations and gifts|1,353|6,877|8,230|2,452|3,787|6,239|
## **4 Charitable activities**
|Local authority
Fees receivable|**2023**
**£**
187,377
1,230,598
1,368,760|**2022**
**£**
245,939
929,072|
|---|---|---|
|||1,175,011|
## **5 Income from investments**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2023**|**2022**|
||**£**|**£**|
|Income from listed investments|14,705|13,853|
|Interest receivable|5,357|117|
||20,062|13,970|
- 17 -
## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **6 Other income**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2023**|**2022**|
||**£**|**£**|
|Government grants received|-|19,600|
During the year, £0 in grants was received from Nottinghamshire County Council with respect to infection control grants (2022: £12,568). In addition to this, £0 was received from HMRC under the Coronavirus Job Retention Scheme (2022: £6,967).
- 18 -
## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **7 Charitable activities**
|Staff costs
Depreciation
Residents activities
Catering
Staff training
Motor expenses
Resident fees contribution
Administration fees
Light and heat
Equipment hire and rental
Rates and water
Insurance
Repairs
Registration fee
Printing, postage and telephone
Garden maintenance
Bank charges and interest
Legal and professional
Household expenses and cleaning
Sundry expenses
Share of governance costs (see note 8)
**Analysis by fund**
Unrestricted funds
Restricted funds|**2023**
**£**
898,871
79,923
15,153
77,374
10,706
4,322
-
3,788
24,019
26,078
3,639
31,198
59,189
8,956
3,711
5,055
556
2,047
52,314
8,151
1,304,344
74,534
1,378,878
1,375,486
3,392
1,378,878|**2022**
**£**
785,510
62,035
7,205
58,357
1,957
4,913
562
1,435
26,189
21,470
6,405
23,060
54,041
13,750
5,270
1,721
648
2,276
32,084
14,308|
|---|---|---|
|||1,121,239
72,790|
|||1,194,029|
|||1,189,186
4,843|
|||1,194,029|
- 19 -
## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **8 Governance costs**
|**Governance costs**|||
|---|---|---|
|Staff costs
Audit and accountancy
Legal and professional
Analysed between
Charitable activities|2023
£
61,309
8,990
4,235
74,534
74,534|2022
£
57,294
7,900
7,596|
|||72,790|
|||72,790|
Governance costs includes payments to the auditors of £4,820 (2022- £3,500) for audit fees. Accounts fees were included at £2,200 (2022- £2,000).
## **9 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **10 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
|Care service
Management and administration
**Employment costs**
Wages and salaries
Agency staff costs
Other pension costs
**Remuneration of key management personnel**
The remuneration of key management personnel is as follows:
Aggregate compensation|**2023**
**Number**
33
2
35
**2023**
**£**
808,052
127,255
14,167
949,474
109,675|**2022**
**Number**
31
2|
|---|---|---|
|||33|
|||**2022**
**£**
738,443
86,014
12,176|
|||836,633|
|||102,491|
There were no employees whose annual remuneration was £60,000 or more.
- 20 -
## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **11 Gains and losses on investments**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2023**|**2022**|
|Gains/(losses) arising on:|**£**|**£**|
|Sale of investments|(41,775)|11,633|
|Revaluation of investment properties|-|20,000|
||(41,775)|31,633|
## **12 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **13 Investment property**
|**Investment property**||
|---|---|
||**2023**|
||**£**|
|**Fair value**||
|At 1 April 2022 and 31 March 2023|120,000|
Investment property relates to one property at Walnut Gardens, East Leake. The fair value of the investment property has been arrived at on the basis of the sale price of similar properties on the same road.
## **14 Tangible fixed assets**
|**Freehold land**
**and buildings**
**Fixtures and**
**fittings**
**Motor vehicles**
**£**
**£**
**£**
**Cost**
At 1 April 2022
2,394,123
326,384
45,961
Additions
161,783
35,057
-
At 31 March 2023
2,555,906
361,441
45,961
**Depreciation and impairment**
At 1 April 2022
279,489
225,831
42,730
Depreciation charged in the year
51,980
27,135
808
At 31 March 2023
331,469
252,966
43,538
**Carrying amount**
At 31 March 2023
2,224,437
108,475
2,423
At 31 March 2022
2,114,633
100,553
3,231|**Total**
**£**
2,766,468
196,840|
|---|---|
||2,963,308|
||548,050
79,923|
||627,973|
||2,335,335|
||2,218,417|
- 21 -
## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **15 Fixed asset investments**
|**Cost or valuation**
At 1 April 2022
Additions
Valuation changes
Disposals
At 31 March 2023
**Carrying amount**
At 31 March 2023
At 31 March 2022
**16**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income
**17**
**Creditors: amounts falling due within one year**
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
**18**
**Deferred income**
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities|**Listed**
**investments**
**£**
658,529
74,489
(53,483)
(68,433)
611,102
611,102
658,529
**2023**
**2022**
**£**
**£**
10,988
5,064
6,052
6,539
17,040
11,603
**2023**
**2022**
**£**
**£**
18,889
-
75,102
18,545
91,920
22,256
48,108
48,545
234,019
89,346
**2023**
**2022**
**£**
**£**
(5,294)
(9,085)|
|---|---|
- 22 -
## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
|**18**
**Deferred income**
Deferred income at 1 April 2022
Released from previous periods
Resources deferred in the year
Deferred income at 31 March 2023|**(Continued)**
(9,085)
(10,192)
9,085
10,192
(5,294)
(9,085)
(5,294)
(9,085)|**(Continued)**
(9,085)
(10,192)
9,085
10,192
(5,294)
(9,085)
(5,294)
(9,085)|
|---|---|---|
|||(9,085)|
## **19 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
|**Balance at**
**1 April 2021**
**£**
Capital grant
28,050
Social grant
275
28,325|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at**
**1 April 2022**
**£**
**£**
**£**
3,787
(4,843)
26,994
-
-
275
3,787
(4,843)
27,269|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**31**
**£**
**£**
6,877
(3,392)
-
-
6,877
(3,392)|**Balance at**
**March 2023**
**£**
30,479
275|
|---|---|---|---|
||||30,754|
## **20 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
|General funds
**Previous year:**
General funds|**At 1 April**
**2022**
**Incoming**
**resources**
**Resources**
**expended**
**Gains and**
**losses**
**At 31 March**
**2023**
**£**
**£**
**£**
**£**
**£**
3,409,284
1,396,250
(1,380,284)
(41,775)
3,383,475
**At 1 April**
**2021**
**Incoming**
**resources**
**Resources**
**expended**
**Gains and**
**losses**
**At 31 March**
**2022**
**£**
**£**
**£**
**£**
**£**
3,355,266
1,216,728
(1,194,343)
31,633
3,409,284|
|---|---|
- 23 -
## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **21 Analysis of net assets between funds**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
**Fund balances at 31 March 2023 are represented by:**
Tangible assets
2,317,090
18,245
Investment properties
120,000
-
Investments
611,101
-
Current assets/(liabilities)
335,284
12,509
3,383,475
30,754
**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**
**Fund balances at 31 March 2022 are represented by:**
Tangible assets
2,196,780
21,637
Investment properties
120,000
-
Investments
658,529
-
Current assets/(liabilities)
433,975
5,632
3,409,284
27,269|**Total**
**2023**
**£**
2,335,335
120,000
611,101
347,793|
|---|---|
||3,414,229|
||**Total**
**2022**
**£**
2,218,417
120,000
658,529
439,607|
||3,436,553|
**22** Operating lease commitments
## **Lessee**
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
|Within one year
Between two and five years|**2023**
**£**
19,931
25,248
45,179|**2022**
**£**
3,103
-|
|---|---|---|
|||3,103|
## **23 Related party transactions**
## **Transactions with related parties**
During the year the charity entered into the following transactions with related parties:
- 24 -
## **W J YAPP BEQUEST - DERBYSHIRE HOUSE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
In 2023, expenses totalling £nil (2022: £145) were reimbursed to nil trustees (2022: 1 trustee) during the year.
|**24**
**Cash generated from operations**
(Deficit)/surpus for the year
Adjustments for:
Fair value gains and losses on investment properties
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
Increase in creditors
**Cash generated from operations**|**2023**
**£**
(22,324)
-
53,484
79,923
(5,438)
144,673
250,318|**2022**
**£**
52,962
(20,000)
(11,632)
62,035
3,083
37,849
124,297|
|---|---|---|
- 25 -