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||||||Page|
|---|---|---|---|---|---|
|Reference|and administrative||details ofthe company,|its Trustees and advisers||
|Chairman's|Statement|||||
|Trustees'|Report||||3-8|
|Independent
Auditors'||Report|on the Financial Statements||9-12|
|Statement|ofFinancial|Activities|||13|
|Balance Sheet|||||14 - 15|
|Statement|ofCash Flows||||16|
|Notes to the Financial||Statements|||17-36|
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|Trustees and Directors|Trustees and Directors|Canon P KWarren,|Canon P KWarren,|President|President|
|---|---|---|---|---|---|
|||Dr A Wells||||
|||Mr JW Robson||||
|||Mrs SCaddy||||
|||Mr M Casson||||
|||Mr A G Davies||||
|||DrJ Greenwell||||
|||Mrs JJones||||
|||Dr N Martin||||
|||Mr G Walker,|Chair|||
|Company|registered|||||
|number||10845391||||
|Charity registered||||||
|number||1174376||||
|Registered office||Cove House||||
|||Cove Road||||
|||Silverdale||||
|||Carnforth||||
|||Lancashire||||
|||LA5 OSG||||
|Company|Secretary|Catherine
Humphreys|||ACMA|
|Chief Executive Officer||Catherine
Humphreys|||ACMA|
|Independent
auditors||Armstrong
Watson Audit Limited||||
|||Chartered
Accountants|||and Statutory Auditors|
|||James Watson House||||
|||Montgomery|Way|||
|||Rosehill||||
|||Carlisle||||
|||Cumbria||||
|||CA1 2UU||||
|Solicitors||Progression|Solicitors|||
|||11Queen Street||||
|||Ulverston||||
|||Lancashire||||
|||LA12 7AF||||
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|||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2023|2023|2022|
||||Note|6|6|6|
|Income from:|||||||
|Donations
and|legacies||4|52,126|52,126|46,404|
|Charitable
activities|||5|1,062,797|1,062,797|912,112|
|Investments|||6|12,449|12,449|3,602|
|Total income||||1,127,372|1,127,372|962,118|
|Expenditure
on:|||||||
|Charitable
activities|||7|1,074,518|1,074,518|956,005|
|Total expenditure||||1,074,518|1,074,518|956,005|
|Net movement|in funds|||52,854|52,854|6,113|
|Reconciliation|offunds:||||||
|Total funds brought||forward||2,051,655|2,051,655|2,045,542|
|Net movement|in funds|||52,854|52,854|6,113|
|Total funds carried forward||||2,104,509|2,104,509|2,051,655|
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||FOR TH|E YEAR ENDED 31 MARCH 202|3||
|---|---|---|---|---|
||||2023
6|2022f|
|Cash flows from operating|activities||||
|Net cash used in operating|activities||153,038|29,902|
|Cash flows from investing|activities||||
|Dividends,
interests
and rents from investinents|||12,449|3,602|
|Purchase oftangible fixed assets|||(45,391)|(198,934)|
|Purchase offixed asset additions
not capitalised|||(16,744)|(9,923)|
|Net cash used in investing|activities||(49„686)|(205,255)|
|Cash flows from financing|activities||||
|Net cash provided
by financing
activities|||||
|Change
in cash and cash|equivalents
in|the year|103,352|(175,353)|
|Cash and cash equivalents|at the beginning|ofthe year|1,243,724|1,419,077|
|Cash and cash equivalents|at the end of|the year|1,347,076|1,243,724|
|The notes on pages 17to 36 form part ofthese financial statements|||||
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||||||Unrestricted|Total|
|---|---|---|---|---|---|---|
||||||funds|funds|
||||||2023|2023|
|||||||6|
||Donations||||50,380|50,380|
||Grants||||1,746|1,746|
||Total 2023||||52,126|52,126|
||||||Unrestdcted|Total|
||||||funds|funds|
||||||2022|2022|
||||||6|F|
||Legacies||||3,571|3,571|
||Grants||||42,833|42,833|
||Total 2022||||46,404|46,404|
|5.|Income from charitable|||activities|||
||||||Unrestricted|Total|
||||||funds|funds|
||||||2023|2023|
||||||6||
||Provision of|residential|care at Cove House||1,006,943|1,006,943|
||Independent|living at|Cove Orchard||55,854|55,854|
||Total 2023||||1,062,797|1,062,797|
||||||Unrestricted|Total|
||||||funds|funds|
||||||2022f|2022f|
||Provision ofresidential||care at Cove House||868,906|868,906|
||Independent|living at|Cove Orchard||43,206|43,206|
||Total 2022||||912,112|912,112|
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|Unrestricted|Total|
|---|---|
|funds|funds|
|2023|2023|
|12,449|12,449|
|Unrestricted|Total|
|funds|funds|
|2022|2022|
|E|6|
|3,602|3,602|
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||||Unrestricted||
|---|---|---|---|---|
||||funds|Total|
||||2023f|2023
6|
|Provision of|residential|care at Cove House|1,013,700|1,013,700|
|Independent|living at|Cove Orchard|60,818|60,818|
|Total 2023|||1,074,518|1,074,518|
||||Unrestricted||
||||funds|Total|
||||2022f|2022f|
|Provision of|residential|care at Cove House|904,564|904,584|
|Independent|living at|Cove Orchard|51,421|51,421|
|Total 2022|||956,005|956,005|
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|||||Staff costs|Depreciation|Other costs|Total|
|---|---|---|---|---|---|---|---|
|||||2023|2023|2023|2023|
|||||8|6||6|
|Provision|of|residential|care at Cove House|642,436|56,246|315,018|1,013,700|
|Independent||living at|Cove Orchard|16,505|5,607|38,706|60,818|
|||||658,941|61,853|353,724|1,074,518|
|||||Staff costs|Depreciation|Other costs|Total|
|||||2022
f|2022
6|2022
F|2022f|
|Provision|of|residential|care at Cove House|577,786|49,181|277,617|904,584|
|Independent||living at|Cove Orchard|12,190|5,607|33,624|51,421|
|||||589,976|54,788|311,241|956,005|
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||||Activities|||
|---|---|---|---|---|---|
||||undertaken|Support|Total|
||||directly|costs|funds|
||||2023|2023|2023|
|Provision of|residential|care at Cove House|871,067|142,633|1,013,700|
|Independent|living at|Cove Orchard|31,340|29,478|60,818|
||||902,407|172,111|1,074,518|
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|Analysis of|expenditu|re
by activities (continued)||||
|---|---|---|---|---|---|
||||Activities|||
||||undertaken|Support|Total|
||||directly|costs|funds|
||||2022f|2022f|2022f|
|Provision of|residential|care at Cove House|765,555|139,029|904,584|
|Independent|living at|Cove Orchard|35,364|16,057|51,421|
||||800,919|155,086|956,005|
##
|||||Provision of|Independ't||
|---|---|---|---|---|---|---|
|||||residential|living at||
|||||care at|Cove|Total|
|||||Cove House|Orchard|funds|
|||||2023f|2023f|2023f|
|Staff costs||||547,246||547,246|
|Depreciation||||56,246|5,607|61,853|
|Staff training||||4,646||4,646|
|Hotel, travel|and subsistence|||2,313||2,313|
|Printing
and|stationery|||3,255||3,255|
|Telephone
and fax||||1,529|1,590|3,119|
|Advertising|and promotion|||10,715||10,715|
|Legal and professional,||regulation|costs (incl. DBS)|31,470||31,470|
|Employee
benefit costs||||8,623||8,623|
|Bank charges||||1,555||1,555|
|Rates and water||||3,920|8,342|12,262|
|Light and heat||||39,097|3,536|42,633|
|Cleaning||||9,747||9,747|
|Repair and|maintenance|||77,007|11,995|89,002|
|Residents'
comforts &welfare||||4,143||4,143|
|Food costs||||62,305||62,305|
|Sundry expenses||||7,250|270|7,520|
|Total 2023||||871,067|31,340|902,407|
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||||||Provision of|Independent||
|---|---|---|---|---|---|---|---|
||||||residential|living at||
||||||care at Cove|Cove|Total|
||||||House|Orchard|funds|
||||||2022|2022|2022|
||||||6||F|
|Staff costs|||||485,463|(137)|485,326|
|Depreciation|||||49,181|5,607|54,788|
|Staff training|||||5,696||5,696|
|Hotels, travel and subsistence|||||1,182||1,182|
|Printing
and||stationery|||2,976|45|3,021|
|Telephone|and fax||||2,537|360|2,897|
|Advertising||and promotion|||11,089||11,089|
|Legal and professional,|||regulation|costs (incl. DBS)|16,013||16,013|
|Equipment||hire|||8,377||8,377|
|Bank charges|||||1,402||1,402|
|Rates and|water||||4,687|1,721|6,408|
|Light and heat|||||33,969|2,747|36,716|
|Cleaning|||||7,217||7,217|
|Repair and||maintenance|||77,419|24,823|102,242|
|Residents'|comforts &welfare||||3,173||3,173|
|Food costs|||||50,857||50,857|
|Sundry expenses|||||4,317|198|4,515|
|Total 2022|||||765,555|35,364|800,919|
|Analysis ofsupport costs||||||||
||||||Provision of|Independ't||
||||||residential|living at||
||||||care at|Cove|Total|
||||||Cove House|Orchard|funds|
||||||2023|2023|2023|
|||||||6|6|
|Staff costs|||||95,190|16,505|111,695|
|Computer Costs|||||23,451||23,451|
|Legal and professional,|||regulation|costs (incl. DBS)|3,600|9,184|12,784|
|Auditors'
remuneration|||||11,100|1,800|12,900|
|Insurance|||||9,292|1,989|11,281|
|Total 2023|||||142,633|29,478|172,111|
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|||||Provision of|Independent||
|---|---|---|---|---|---|---|
|||||residential|living at||
|||||care at Cove|Cove|Total|
|||||House|Orchard|funds|
|||||2022|2022|2022|
|||||8|6|F|
|Wages and salaries||||92,326|12,327|104,653|
|Computer|costs|||15,688||15,688|
|Legal and|professional,|regulation|costs (incl. DBS)|14,501|340|14,841|
|Auditors'|remuneration|||7,890|1,700|9,590|
|Insurance||||8,624|1,690|10,314|
|Total202||||139,029|16,057|155,086|
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|Auditors'
remuneration|||||
|---|---|---|---|---|
||||2023
f|2022
6|
|Fees payable to the company's
annual accounts|auditor|for the audit ofthe company's|11,400|8,000|
|Fees payable to the company's|auditor|in respect of:|||
|All assurance services not included
above|||1,500|1,500|
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|Staff costs||||||
|---|---|---|---|---|---|
|||||2023
6|2022f|
|Wages and|salaries|||605,420|547,224|
|Social security costs||||42,845|33,799|
|Contribution|to defined|contribution|pension schemes|10,676|8,953|
|||||658,941|589,976|
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|||2023|2022|
|---|---|---|---|
|||No.|No.|
|Management|and administration|5|5|
|Catering and|housekeeping|6|4|
|Care staff||15|20|
|||26||
|The average|headcount|expressed as full-time|equivalents|was 19.|||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||No.|No.|
|Management|and administration||||5|4|
|Catering and|housekeeping||||4|3|
|Care staff|||||10|12|
||||||19|19|
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||Freehold|Plant and|Fixtures and|Office||
|---|---|---|---|---|---|
||property
8|machinery
5|fittings|equipment|Total|
|Cost or valuation||||||
|At 1 April 2022|1,051,101|87,924|48,088|77,366|1,264,479|
|Additions|18,522|24,729||2,140|45,391|
|At 31 March 2023|1,069,623|112,653|48,088|79,506|1,309,870|
|Depreciation||||||
|At 1 April 2022|275,834|80,545|26,401|52,979|435,759|
|Charge for the year|44,163|4,054|4,244|9,392|61,853|
|At 31 March 2023|319,997|84,599|30,645|62,371|497,612|
|Net book value||||||
|At 31 March 2023|749,626|28,054|17,443|17,135|812,258|
|At 31 March 2022|775,267|7,379|21,687|24,387|828,720|
##
||Property|
|---|---|
||under|
||construction|
||6|
|Valuation||
|At 1 April 2022|9,923|
|Additions|16,744|
|At 31 March 2023|26,667|
##
|||2023|2022|
|---|---|---|---|
|||6|6|
|Due within one year||||
|Trade debtors||9,150|18,044|
|Other debtors||13,781|17,675|
|Prepayments|and accrued income|17,172|31,014|
|||40,103|66,733|
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|Creditors|: Am|ounts|falling due|within one year|||
|---|---|---|---|---|---|---|
||||||2023f|2022|
|Trade creditors|||||24,336|13,278|
|Other taxation||and social security|||18,290|11,601|
|Other creditors|||||35,470|17,262|
|Accruals|and deferred||income||43,499|55,304|
||||||121,595|97,445|
||||||2023|2022f|
|Deferred|income at 1||April 2022||8,156|6,499|
|Resources deferred
during the year||||||8,156|
|Amounts|released from previous|||periods|(8,156)|(6,499)|
|||||||8,156|
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|Statement offunds|-|current|year|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at 1|||Transfers|31 March|
||||Apdl 2022|Income|Expenditure|in/out|2023|
||||5|5|5|5|5|
|Unrestricted
funds||||||||
|Designated
funds||||||||
|Cove Orchard
Sinking||Fund|7,952|5,700|(210)||13,442|
|Future Projects Fund|||1,020,000||||1,020,000|
|Maintenance
Fund|||99,908||(142,758)|142,850|100,000|
||||1,127,860|5,700|(142,968)|142,850|1,133,442|
|General funds||||||||
|General Funds - all|funds||923,795|1,121,672|(931,550)|(142,850)|971,067|
|Total Unrestricted|funds||2,051,655|1,127,372|(1,074,518)||2,104,509|
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|Statement offunds|- prior ye|ar|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
|||Balance at|||Transfers|31 March|
|||1 April 2021
f|Income
f|Expenditure|in/out
f|2022|
|Unrestricted
funds|||||||
|Designated
funds|||||||
|Cove Orchard
Sinking Fund||18,424|6,938|(21,124)|3,714|7,952|
|Future Projects Fund||1,020,000||||1,020,000|
|Maintenance
Fund||100,000||(147,998)|147,906|99,908|
|||1,138,424|6,938|(169,122)|151,620|1,127,860|
|General funds|||||||
|General Funds - all|funds|907,118|955,180|(786,883)|(151,620)|923,795|
|Total Unrestricted|funds|2,045,542|962,118|(956,005)||2,051,655|
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|Summary
|offunds - cur|rent year|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
|||Balance at 1|||Transfers|31 March|
|||April 2022
6|Income
6|Expenditure
f|in/out
6|2023f|
|Designated|funds|1,127,860|5,700|(142,968)|142,850|1,133,442|
|General funds||923,795|1,121,672|(931,550)|(142,850)|971,067|
|||2,051,655|1,127,372|(1,074,518)||2,104,509|
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|Analysis of net assets between funds -current ye|ar||
|---|---|---|
||Unrestricted|Total|
||funds|funds|
||2023|2023|
||8||
|Tangible fixed assets|812,258|812,258|
|Assets under Construction|26,667|26,667|
|Current assets|1,387,179|1,387,179|
|Creditors due within one year|(121,595)|(121,595)|
|Total|2,104,509|2,104,509|
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|Analysis ofnet assets between funds - prior year|||
|---|---|---|
||Unrestricted|Total|
||funds|funds|
||2022f|2022
F|
|Tangible fixed assets|828,720|828,720|
|Assets under Construction|9,923|9,923|
|Current assets|1,310,457|1,310,457|
|Creditors due within one year|(97,445)|(97,445)|
||2,051,655|2,051,655|
##
|Reconciliation
of|net movement|in funds to net cas|h flow from opera|ting
activities||
|---|---|---|---|---|---|
|||||2023|2022f|
|Net income for the|year (as per Statement of Financial||Activities)|52,854|6,113|
|Adjustments
for:||||||
|Depreciation
charges||||61,853|54,788|
|Dividends,
interests|and rents from|investments||(12,449)|(3,602)|
|Decrease/(increase)|in debtors|||26,630|(26,477)|
|Increase/(decrease)|in creditors|||24,150|(920)|
|Net cash provided|by operating|activities||153,038|29,902|
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|||||2023|2022f|
|---|---|---|---|---|---|
|Cash in hand||||1,347,076|1,243,724|
|Total cash and cash|equivalents|||1,347,076|1,243,724|
|Analysis ofchanges|in net debt|||||
|||At|1April||At 31 March|
||||2022|Cash flows|2023|
||||6||5|
|Cash at bank and in hand||1,243,724||103,352|1,347,076|
|||1,243,724||103,352|1,347,076|
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