RegE5tored numbér: 06768177 Charity number.. 1179990 ROYAL CAMBRIDGE HOME LIMITED AUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEE) CONTENTS Page Roference and Administrative Detsils of tht Company. Its Trustses ond Advisers Trustees. Report Trustees. Rasponsibilitles Statement Independant Auditofs Rgport on the Flnancial Statom8nts 8- 11 ststement of Financial Activitms 12 Balan¢8 Sheet 13-14 stat•ment of Cash Flows Notés to the Financlal Statements 16-31
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YE4R ENDED 31 MARCH 2024 Trustggs Mr R H Dowler MBE Major J T Tatham (deceased 11 rI1 20241 Col. N E L Gilbert Mr A D Bott FCCA Mr J M L Williams MA Mrs K Rajan Mr John Ross FCIS lappoinled 1 April 20231 Company registergd number 06768177 CharSty reglstored numbèr 1179990 Rstered office Albany House Claremont Lane E5her Surrey KT10 9FQ Company se¢rotary Mr A O Bott FCCA Independent audltor Wellden Tumbull Limited Slalulory Auclitors Albany House Claremont Lane Esher Surrey KT10 9FQ Bankers National Westminster Bank PLC 73 High Street Vvallon on Thames Surrey KT12 1DW Soltcitors Mwre Barlow Frameworks 2 Sheen Road Richmond Surrey TW9 1AE Page 1
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED 8Y GUARANTEE) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees of the Royal Cambridge Home LMitÈd have the honour to Present 115 fifteenth Annual Report and Statement of Accounts for the year ended 31st March 2024. Objectives & Activities , Structure Governan and Management The The Royal Cambridge Home is an incorporated charity constituted under the char¢Vs goveming document dated 26Ih February 19% and following discussions wlh the Charity Commission the Trustees made application lo the Commission for the Constitution ol the Home to be altered. The revised Constitution was sealed by the Commission and reiVed by the Trustees on 13th June 2007. The day lo day a¢livilies of the Charity have, since 1s1 April 2009, been conducted by R¢)yal Cambridge Home Limited. The Charity retains ownership of the freehold title to the premises of the Charity. The Trustees who have seroed during the year are s8t out on page 1. TrL$5tees are apwinled by the board of trustees of the Royal Cambridge Home. The day to day adnynistralion of the Home is the responsibllity of the Manager who rew)rts to ihe Trusle@s of the Royal Cambridge Hcxme Limited and lo the General Purposes Committee of the Royal Cambridge Home. Following discussions wlh the Charity Corrmission on 26th April 2016 a revised Scheme was issued the effect of which was to amend the nanE of the Charity from The Roy81 Cambridge Home for sOle[S, Widows Its The Royal Cambr¢dge Home and to extend the definition of ils beneficiaries as follows'.- 111 lal The relief of beneficiaries who are in by virtue of financial hardship,sickness. disability or the effects of old age by the provision of a home. Ibl The relief ol beneficiaries who are in need by virtue of financial hardship, sickness, disability or the effects of old age by the provision of grants, loans, gifts, pensions or olhernmse 121 In furtherarKe of Clause 1 lal the Trustees may assist b8nefieiaries by providing sheltered accommodation, ressdential care, nursing Llay respite care. 131 The TfU5tees must conllr)ue lo provide a home on land belonging lo the Charity. In this context the lerm'beneliciaries 8S 111 Women who have served in the Armed Forces of the Crown. {21 Women who can be considered lo be or have been dependent on a man or woman who has served in the Armed Forces ol the Crown including spouse, ¢ivil partner. widow, former spouse, fomer civil partner, parent, child, slep thild, adopted child, and qualits.ng c&habilant. 131 Men have selved in the Armed Forces of the Crown and men can te consideTed to be or have b*n dependant on a man or woman who has See in the Armed Forces of the Crown, including Spouse, ciwl partner, low, former spouse. former civil partner, parent, child. step child, adopted child, and qualifying co- habitant wlh th8 proviso that beneficiaries satisfying the criteria in 111 &121 above will take preceden in the event of theie being more than one applicant for an av3ilable place in the Home. This is undertaken from the Charivs weM1 in Hurst Road, East Molesey, &Jrrey. In Setting objectives and planning lor activities the Trustees have given due consideration lo general guidan published by the Charity Commission relating to public benefit. including the guidance "Public Benefit.. running a charity IP821. Page 2
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Refergnce ar admini$tratlve delalls These can be found on page 1 of this annual report. The charitys investment advisers are.. Ralhbonesllnv@stec Wealth & Investment Limited 30 Gresham Street London EC2V 7QN Achiovernents and PerfoTmance and Financial Raview The full financial activities for the year are shown on pages 1110 31. The nel incomlng resources before gain o inve51menls are £11,610, compared to net outgoing resources of £119,340 for 2023. After taking account of the gaift 01 £5,15312023 - IDSS of £1,465) our investtnenl portfolio, a surplus of £17,263 was recorded for the year Gompared wlth a deliat of £120,805 for 2023. ExpenditUTe decreased by £129,388 wlh staff cos15 accounting for 57% the total expenditure. Costs ol maintaining and improving the building5 have been closely cOntrold with the Home's staff attending to routine repair and decorations wherever possible. As a result. total funds at 31st March 2024 were £425,50712023 - £408,244) of which £357,348 are unrestricted funds available. These results reflect the lact that wlh effect from 1st April 2023 the sile of the former 84 Hurst Road and the Duke of Gloucester Wing were handed to Red Construction Group Ltd lo start the work of constructing the new building for the Royal Cambridge Home. The remaining building - No 82 Hurst Road - provided awommodalion for a rllaximum of 20 residents. In spite of the very obvious activities being carried on in the construction of the new lIdIng the Home re1ve numerous enquiries for accowmodation. Prior to the CommenMent ol construction concerns arose that demand for residential care may fall away bul this has not been the case and it is a tllbute lo the staff that the Home has been seen as a very acceptable oplion lor residential Care. Redevelopment The contrad for the ccmslruclion ol the new Royal Cambridge Home building and made ben Sheppard Trust Propety Cornpany Limited Ilhe Employer) and Red Construction Group was made immediately pritsr lo the end of the previous financial year al a cost of £8.117,941.87. This Cost was signilicanlly greater than the costs previously estimated and as a result Il was nSSary lor the terms ol the contract with Sheppard Trust to te renegoknated sijch that the Fixed Lar Payment was reduced to £1,775,000.00. The ¢onslruclion contract allows for a period of 64 weeks with a Practical Completion date of 29th July 2024. The contractors hold regular monthly meetings lo review pryress with Employer, the Project Managerlcost Consultan15, various consultants and with th& Chairman, the Home's Manager and a Building SuNeyor fiom Knight Frank in attendanc@. A further intermediate review meeting takes Pl bebhEen the ¢onlractors and the Project Managerlcosl Consultant. Red Construction Group also arculate a monthly report on progress lo dale and anlicipaled progress in the next period. Adverse weather wnditions from Ihe181è autumn and throughout the wnter months wth eXssiVe amounts of rainfall have caused some delays su¢h that an eslimatecl ¢ompletion dale of 13th August was put forward bul wlh the provision that the contractors were hopeful of eliminating that delay by employing gatsr numbèrs of Irades people to L¢ndertake interior and finishing works. Additionally progress has been hindered in re18tion lo connection5 to ulililies, water, drainage etc, and at the time of preparation ol this report there is an on going difflty in reaching agreement ryth the Highways Authority in creating the entrance to the site. At the lirne of preparalicx) ol this report the building is wealhei tight arid wthin the last week the scaffclding to the front elevation has been removed and internal works are making good progress. Page 3
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 We are currently in the prSS of approving 8nd ordering ftjrnilure and fumishings for the new building for delivery to the new Home when practical completion has been achieved. A period of one month is allowed for transfer of the operation of the Home from No 82 Hurst Road to the new building lo be known a5 84 Hurst Road. The post code remains unchanged as Kf8 9AH. During the course of constrLtclion items of additional cost have arisen as a re8uSt ol which the Fixed Land Payment has been further reduced to £1,609,242 and this may be subject to further adjustrnenl as the work progresses Raview of the Year As at 1$1 April 2023 there were 19 residents in the Home, During the year we admitted five residents for permanent stay and bNo further residents for varying periods of respite care. One resident left the Home to live elsewhere. Five residents died during the year. As at 31st March 2024 we We ¢aring for 17 residents. The Home, in cornpllan wlh a requ8St from the Social Services Department of Surrey County Council continues lo submit regular Capacity Checkerf, reports advising the authority of availability of accommodation, staffing leve15 elc. and in conjunclion with this process is CeiVIng applications for accomrnodation under a "Discharge lo Assess" programme the applican15 requiring either respite or long term care with shorl temi funding being provided. Cov(d-19 remains an ever present p)tential threat and the staff of the Home are constantly alert lo the risks which it presenls. During the year In question we experienced one nwnor outbreak with no major cOnsequenS for either residents or sl¥ff 11 has teen possible to restore to the Home's ¢8ndar many of the activities and events which had to be shelved lo avoid the risks imposed by Covid-19. Eden of how much these activities give pleasure to the residents is very clear from the reports in the Monthly N¥wsletters. Activitie5 8re provided to meet all tastes and abilities induding brA trips, visits to Hampton Court and Iccal farms, visits from Zoolab wlh Interesting animals, and variety of entertainer& In August the Homes Annual Garden Paty was held when we were honoured lo have the Mayor of Elmbridge Cllr Richard Williams and his wife, both of whom showed great interest in the Home and also in the building worf( then in ils early stages on the sile next door. While we m longer have the musicians from the Royal Haspital Chelsea to entertain our guests everyone enjoyed the singing of Liam, 8 frequent and very talented performer. We were espeaally pleased lo welcome bxk the Mayor and his wfe to attend the traditional Stirring The Christmas Pudding CeremDny in November, a very appropriate start to the Christmas seawn al the Home. The now established policy of'make do and mend has again been followed to ensure that while the Home remains safe and fully fit for occupation we seèk lo avoid tjndue expendilute on renewng wherever p055ible, As reported last year we have managed lo dispose of surplus item5 of fumiture and effects in readiness for the nK)ve lo the new building. We are, as ever, mindful ol the w)rk and commitment of our stsff in making the Home a happy and secure place for our residents. Our grateful thanks lo the Man4er Rory Bellield and all the staff for their efforts under difficLJIt circumstances during the construction work next door. Visitors are often heard to comment on the wsilive and happy atmosphere within the Home and this is due in no small Measu to the care provided by the Staff. It is also appropriate to record that throughout the construction period Red Conslruclion Group have been very understanding and considerate neiJhbours. During the year Mrs Vicki O'Brien has been working with Maggie Wilkinson and other staff members towards obtaining accreditation in If* 13)Id Standards Framework an organisalion setting standards for the care of people as they approach end of life. This has involvecl considerable lime, research and work and has recenlEy culminated with the Home CeiVIng a visit from an Assessor representing the Gold Standards Framework. vlIe their decision is awaited al the lime of preparing this report there is every indication that the Home will recewe aCcdItation. Vicki and Maggie are lo be warmly congratulated and thanked lor all their hard work on this project. Page 4
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT ICONTINUEDI FOR TrIE YEAR ENDED 31 MARCH 2024 The Iruslees are very appreciative of the donations received from Benefactor8 and Friends during th& year. Aso rrany congratulalioris are due lo all those Staff members and fnends who took part in the Magical Molesey evening in December and raised in excess of £346.C(i. Additionally a fvrther sum of £500.00 was raised at the Summer Garden Paty. These funds were for the benefit of the Queen Mary Fund lo provide entertainment for residents. RIP 11 is wlh sadness that we have to Tewrd the death of Major John Tatham on 11th April 2024. John became a Iwustee in 1995 al which time he was based at the Royal Hospital Chelsea a5 a Captain of Invalids. John's contribution lo the work of the trustees over many years was invaluable and he proved himself lo be a true and loyal friend. He wll be greatly missed by all of us. Investm&nt Policy There are no restrictions on the charity's power to inve51.The investment policy is to provide a sufficient opportunity for capital and income growth lo meet the in¢rèasing obligations of maintsining and running the Home whilst maintaining a low r45k profvle. The trustees regularly review the investments lo ensure that the portfolio provides a spread of risk and balance between equity and fixed interest investments. The trustees consider the return on investments lo be salisfaclory but rerrkiin very conscityjs of the un¢ertainties in the market both nationally and globally particularly at the present time. Rèsorves Poli¢y 11 is the policy of ihe charity to maintain unresiricted fvnds. thich are the Ie reseNes of the Home, al 8 level which equates to approximately thr& months unrestricted expenditure. Al this level the General Purposes Committee feels that it would be able to continue to provide a high standard of residential care in the event of significant decrease in the level of funding. At the year end the charity had general funds of £7,349. Risk Raview The trustees have examinecl the majo¥ strategic, business and operational risks which the charity faces and confirm that systems have been established to mitigate those risks. List of benefactors Year onded 31st March 2024 H M The King Rowan Bentall Charitable Trust other donations We acknOedge with thanks donations rewved from families and friends of residents and former residents of the Home. Page 5
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEE} TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Disclosuro of infomTh*lon to auditor Each of the petsons who are Trustees al the time when this Twslees, Report is approved has confirrred that.. so far as that Trustee is aware. there is no relevant audit information of whh the Charitae company's auditor is Ljnawdre, and that Trustee has taken all the steps that ought lo have been taken as a Trustee in order lo be aware of any relevant audit information and to establish that the Charity's auditor is aware ol that infomialion. Approved by order ol the members of the board of Trustees and signed on their b MrR H Dowler MBE (Chair of Trusleesl Bott FCCA Date. 081071202Y Page 6
ROYAL CAMBRIDGE HOME LIMITED {A COMPANY LIMITED BY GUARANTEEI STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Truslees IwhD are also the directors of the Company lor the purposes of company13wl are responsible for preparing the Trustees, Report and the fillar131 statements in accordance with applicable law and Unrted Kingdom knounling Standards Iunited Kingdom Generally Aecepled Accounting Practice). Company law requires the Trusl*s to prepare finan(yal statements for each financral year. Under company law. the Tfustees musl not approve the finanaal 51alements unless they are satisfied that they give a true and lair view of the stale of affairs of the Company and of its incoming resources and application of resour5, includir ils income and expÈnditure, lor that pericKI. In preparing these financial statements, the Trustee5 are rèquired lo.. select suitable accounting pc4icies and then apply them consistently,. obserye the methods and princ4ples of the Charities SORP IFRS 1021.. make judgments and a{oUntIng eslimale5 that are reasonablè and prudenL state whether applicable UK Accounting Siandards IFF<S 1021 have been followed. subject to any material dèpartures disclos8d and explained in the finarrial stalemenls.. prepare the financial statements on the going conrn b8sis unless il is inappropriate to piesume that the Company wll continue in business. The Trustees are responsible for keeping adequate accounting words that are suffia&nl to show ar explain the Companls transactions and disclose with reosonable accuracy at any IiFne the financial position of the Company and enable them to ensure that the finanal statements CDmFty th the Charities Act 2011. They are also responsible for safeguarding the assets of thè Company and hence for taking reasonable steps for the prevention and detection ol fraud and other irregularities Approved by order of the members of the board of Trustees and signed on ils behalf Mr R H Dowler MBE (Chair of Trustees) Mr A D Bott FCCA (Trustee) Page 7
ROYAL CAMBRIDGE HOME LIMITED {A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ROYAL CAMBRIDGE HOME LIMrrED Opinion We have audlled the financial $18lements of Royal Cambridge Home Limited (the 'chaTitable companty} for the year ended 31 March 2024 which comprise the Statement of Financial Aclivilies. the Balance Sheet, the Slalemenl of Cash Flows and the related notes, including a summary of signifi¢anl accounting policies. The financial repothng framework that has &en applied in their preparation Is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 'The Financial Rewrting Stsndard applicable in the UK and Republi¢ of Irend, Iunited Kingdom Generally ACpted Acwunting Practice). In our opinion the financial statements.. give a true and fair view ol the slate of the charitable companls affairs as 8131 March 2024 and of ils Incoming resources and application of resources, including its income and expenditure for the year then ended., have been properfy prepared in accordance with United Kingdom Generally ACpted A¢¢ounting Practice,. and Have been prepared in accordance th the requirements of the CharilEs AGI 2011. Basis for oplnion We conducted our audit in accordance wlh International Standards on Auditing IUKI IISAS {UKII and applicable law. Our responsibilities under those standards are further described in the Audilorfs responsibilities for the audit ol the financial statements section of our rewrt. Vve are inclependenl of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial slalemenls in the United 'ngdOM, including the Financial Repc>rting Council's Ethical Standard, and we have fulfilled our other ethical responsibilib.es in accordance wlh these reqtjirements. We bdieve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinn. Conclusions felatlng to going concern In auditing the financial statements, we have concluded th31 the Trustees. use of the going cOnM b8$is of accounting in the preparation of the finanaal stalemenl$ Is appropriate. Based on the work we have performed, we have not identified any material unrtaintieS latIng lo events or conditions that, individually or collectively, may cast significant doubl on the charitable company's ability to continue as a going concern for a perio of al least months from when the financial slalements are authorised for issue. Our responsibililres and the responsibilities ol the Trustee5 With respect lo going concern are descriLed in the relevant sections of this report. Page 8
ROYAL CAMBRIDGE HOME LIMITED A COMPANY LIMITED BY GUARANTEEI INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ROYAL CAMBRIDGE HOME LIMITED {CONTINUED) other Informatlon The other information comprises the informatK)n included in the Annual Report other than the financial statements and our Audilc¢s Report thereon. The Trustees are responsible for the other information contained wlhin the Annual Report. opinion on the financial stalen*nls 8 not cover Ihe other information and, expt to the extent otheise expliGi1Sy stated in our port, we do not express any form of assurance condusion thereon. Our responsibility is to ad the other information and, in doing so, consider whether the other informaliorn is materially inconsistent with the financial statements or our knedge obtsined in the course ol the audit, or otherwise appears to be materially misstated. 11 we identify such material inconsistencies or apparent material misslalèmènts, we are required lo delermine thelher thi5 gives rise lo a matsrial misslalement in the financial statements themselves. If, based on the work we have rformed, we conclude that there Is a material misstatement of this other infomialion, we are required to report that fact. We have nothing lo rewt in this regard. Matters on which we aro requlrÈd to report by exc•p0n We have nothing lo port in respect of the following matters wl)ere the Charities (Accounts and Reports) Regulations 2008 requires u5 to report lo you if, in our opinion.. the inform81ion giv in the Trustees, Report is inconsistent in any material respect wlh the finanual s181ements', or sufficient accountlng fecords have not been kept., or the financial stalemenls are not in agreement wlh the accounting records and returns., or we have nol received all the information and explanations we require for our audit. Responsibilitie$ of trust88s As explasned more fully in the Trustees. ResponsibilitEes Statement, the Trustees Iwho are also the directors ol the charitable company for the purposes of ¢omp8ny lawl are responsible for the preparation of the financial sialemenls and for being satisfied that they give a true and fair view, and for such internal contrd as the Trustees determine is necessary lo enable the preparation of financial stalem8nts that are free from material misstatement, thelher due lo fral or error. In preparing the financial stalemenis, the Trustees are responsible for assessing the charitable companls ability to conlintje as a going concern, disclosing, a5 appliGable, malters related lo going COnM and using the goir concern basis of accounting unless the Trustees either intend to liquidate the charitable company or lo Trase operations, or have no realistic alternative bul to do so. Pe9
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI INDEPENOENT AUDITOR'S REPORT TO THE MEMBERS OF ROYAL CAMBRIDGE HOME LIMITED ICONTINUEDI Audltofs rosponsibilltlos for tho audit of the financial 8tatgm&nts We h8ve been apwnled as auditor under section 144 of the Charities kt 2011 and rerMXt in accordanee with the Act and relevant regulations made or having effect Ihereunder. Our obJ"ectives are lo obtain reasonable assurance about whether the finat)cial statements as a whole are Iiee from material misstalemenl, whether due to fraud or error, and to Issue an Auditorfs Report that includes Dur opinion, Reasonable 8ssurance is a high levd ol a55ur#ncA, bLJt is not a guarantee that an ¥udil conducted in accordance wlh ISAS IUKI wll always detect a materi81 Miss1enI when it exis15. Misslalements can arise from fraud or error and are considered Material il. irKJividually or in the aggrale, they could reaSonaY be expected to Influen the economi¢ decisions of users taken on the basis of these finanaal stalemenls. IrregLJlarilies, irKluding Iraud, are instan$ of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo detect material misstatements in respect of irregularities. including fraud. We have identified the greatest risk of a material impact on the finanaal slalements from irregularities, including fraud, to relate to the timing and recnition of income,and the override Of Controls by management. Vve have obtsined an understanding of the legal and regulatory frameworks that the Company operates within including both ItrK)se th directly have an impact on the financial statements and more wdely those for which non-complian could have a significant impact on the Company's optrralnns and reputation. The Companies Act 2006, The Charities Act 2011, amoyee legislation, health and safety legislation, Care Quality Commission regulations and data wolection are those we have identified in this regard. Auijiting standards limit the required prixedures as to non-compliance with laNs 8nd regulations lo enquiries of those charged with governance and review of any applicab correspondence. The extent to which our procedures ar capablè of detecting irregularities, induding fraud is detailed below". Enquiry of management and those charged with governan as to actual and potential litigati 2nd claims., Enquiry of management and those charged wlh govemance lo idenb.fy any instances of non-compliance ith laws and regulations", Perfoming audit work over the risk of management override of controls, including testing ol journal entries and other adjustments lor appropriateness, evalualiry the business rationale of significant transactions outside the normal course ol business. and reviewng accounting estimates lor blas. Assessing the reanablenesS of income recognised in the wiod based on conlraclu81 tems and obligation5 and the requiTement of accounting 5tsndards.' and Reviewing financial statement disclosures and testing lo supporting documentation lo assess complian with applicable laws and regulation5. 8ec2use of the inherent limitations of an audit, there is a risk that we will not detect all 1[9U1ar1Iie$, including those leading to a material misstalemenl in the financial statements or non<ompli8nce with regulation. This risk increases the more that Complian with a law or regulation is removed frtsm the events and transactions reflected In the financial statements, as we wll less likely to become aware of instances of non<omplianc6. The risk is also greater regarding irregularities Crring due lo fraLJd ralher than error, as fraud involves intentional cOnalMent. forgery, collusion, omission or misrepresentsb'on. A further ¢Jescriplion of our responsibilities for th8 audit of the financial slalemenls is Ic£*ed on the Financial Reptsrting Council's website al.. ww.frc.o .uklauditorsres nsibilities. This descrIptn form3 part of our Audilols ReFX)rt. Page 10
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED 8Y GUAFIANTEEI INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ROYAL CAMBRIDGE HOME LIMITED {CONTINUEDI Use of our report Thls report is made solely lo the charitaLle corroanys trustees, as a body, in cOrdanCe with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might Slate to the charitsble companls Iruslees those matters we are required to slate to ihem in an Auditors Report and for no other purpose. To the lullesl extent permitted by law, we do not a¢p1 or assume responsibility lo anyone other Ih8n the Charitable company and ils members, as a body, for our audit work, for this report, or for the opinions we have formed. Mark Nèlligan FCA Welldan Turnbull Limited Statutory Auditors Albany House Claremont Lane Esher Surrey i(r10 9FQ Wellden Tumbull Limited are eliglble lo act as auditors in t8rms of tion 1212 of the Companies Act 20(E. Page11
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 Capital funds 2024 Restricted funds 2024 Unreslri¢ted funds 2024 Total funds 2024 To131 funds 2023 Note InGomo and endowinents from: Donations Charitabte activilles Investments Other income 1,011 1,011 1.241,720 1,461 831 25,925 1,216,253 1,183 100 1,241,720 1,461 831 Total Incomg arKI endOwnnts 1,011 1,244,012 1,245.023 1,243,461 Expenditure on". Raising funds Charitable activities 290 290 298 1.362,503 1,233,123 1,233.123 Total &xpgnditure 290 1,233,123 1,233,413 1,362,801 Net l•xpenditure) Ilncome before net gains on investments Net gainslllossesl on investrrEnls Transfers behveen funds 12901 1.011 10,889 11,610 1119,3401 5,153 5,153 11,4651 19 500 500 Net movemgnt in funds 4,863 1,511 10,889 17,263 1120,8051 R8conciliation of funds.. Total funds brought Iotward Net mDvemenl in funds 50,323 4,883 11,462 1,511 346,459 10.889 408,244 17,263 529,049 1120,8051 Total funds carried forward 55,186 12.973 357,348 425,507 408,244 The Stslèmenl ol Financial Adivilies indudes all gains ancl losses recognised in the year. The notes on pages 16 to 31 form part of these financial statements. Page 12
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER: 06768177 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note F5xed as50ts Tangibl8 assets Investments 472.145 55,186 441,003 50,323 14 527,331 491,326 Current assets stocks Debtors Cash at bank and in hand 15 16 2,669 174,876 113,699 2,669 154,224 105,713 291,244 262,606 Creditors.. amount8 falling due wlhin one year 17 1393,0671 {345,6881 Net current liabiliti95 1101.8231 183,0821 Total a$sgts less current liabilil 425,508 408,244 Totsl net assets 425,508 408.244 Charity funds Endowment funds Restricted funds Unrestricted funds 19 19 19 55,186 12,973 357,349 50,323 11,462 346,459 Total funds 425,508 408.244 Page 13
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI BALANCE SHEEf (CONTINUED) AS AT 31 MARCH 2024 entiry is required lo audit in accordan wth section 144 of the Charities Act 2011. The Trustees acknedge Iheir responsibilitS for complwng with the requirements of the Act 1th respect to accounttr records and Preparation of financial stalemenls. The financial statements have been prepared in acCordate wth the provisions applicable lo entities subject to the small companies regime. The finanaal statements were approved and authorised for issue by Trustees a Igned on their behalf by". Mr R H Dowlgr MBE {Char of Trusteesl ott FCCA (Trusleel The notes on pages 16 to 31 fomi part ol these finan¢ial stalemenls. Page 14
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI STATEMENT OF CASH FLOWS FOR THE YEAR ENDEO 31 MARCH 2024 2024 2023 Cash flows from opgrating activitles Net cash used in operating activities 70,676 120,342 Cash flows from Inv•sting activitigs Dividends, interests and rents from investments Purchase of tangible fixed asset5 Portfdio management fees 1,461 163,861 12901 1,183 1209,8451 12981 Not cash used in investlng ad5vities 162,6901 1208,96DI Changg in cash and cash equlvalents in the year Cash and cash equivalents al the beginning of the year 7,986 188,6181 194.331 105,713 Cash and cash equlvolents at the and of the year 113,699 105,713 The notes on pages 16 to 31 form part of Ihese financial statenIS Page 15
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY UMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Goneral infomiation Royal Cambridge Home Limrted is a private company, limit& by guarantee. has no share pItal and is also a registered charity, incorporated in England and Wales, registered number 06768177. The principal place of the business is 84 Hurst Rd, Mol8s8y, East Molesey Kr8 gAH. Accounting pollci8S 2.1 Basis of preparatioo of financial statements The financial statements have been prepared in accord8nce with the ChaTlties SORP IFRS 1021 Accounting and Reporting by Charities.. StaterrEnt of Recommended Practice applicable lo Gharilies preparing their accounts in accordan wth the Finanaal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} leffe¢b"vè 1 January 20191, the Financial RepDrting Standard applicable in the LJK and Republic ol Ireland IFRS 102} and the Charllies Act 2011 and UK Generally Accepted Pfactice. Royal Cambridge Home Limited meets the definition of a public benefit entity undeT FRS 102. Assets and liabilities are initially recognised at historical Cost or transacb'on value unless olherwse staled in the relevant accounting policy. The financial $lalements have kEen prepared to give a 'lrue and fairf view and have departed from the Charities IAc¢ounts and Reports) Regulations 2008 only to the extent required to provide a 'lrue and lai¢ view, This departure has involved following the Charities SORP (FRS 1021 PLJblished in Octor 2019 rather than the Accounting and Reporting by Charities.. Stalernenl ol Recommended PraGtiGe effective from 1 April 2005 which has Sin been withdfawn. 2.2 Pr•sèntation currency The Charitable company's fundional currency is Sterf1r and a¢counts are presented in steri, and rounded lo the nearest £. 2.3 Income Grants and donations, including grants lor the wrchase of fixed assets. are ognISed in full in the Statement of FinanciJ Activities when reraved. - Residents, contributions are recniSed over the period of occupation. - Accommodation income is re¢ognised over the periort of staff occupalkJn. Investrnenl income is derived from investments listed on the UK exchange and is accounted forwhen receivable. - Gifts of fixed assèts are in01Le at a fair value astimaled by the trustees at ihe date of receipt. Grants are induded in the Slalement of Financial Activities on 8 receivable basis. The balance of income received lor specific purpDses bul not expended during the Peric is shown in the relant funds on the Balance Sh*t. Where income is received in advance of enlitlernenl of receipt, its recagrnilion is delerred and included in creditors as deferred income. Vthere entitlement occurs before income is e4ved, the in¢ome is 8rUed. Other income is recognised in the pericKI in which it is r4vab and lo the extent the goods have been providEd or on Completion ofthe service. Page 16
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PIARCH 2024 Aecountlng policies Icontlnuedl 2.4 Re$ourc8s oxpended Resources expended are recognised in the peiiod in which they are incurred and include attributable VAT which cannot be recovered. Costs of activib'es comprise diiecl costs and support costs in¢urred in providing residential care. Fundraising costs comprise publictty and costs associated with fundraising. Govemanee expen*s ¢omprise costs IncUrrt in the administration of the Home. Where ¢osls cannot be directly attributed lo these categories, overhead costs are apportioned on the follchhring basis, based on space occupied. Provision of care Icharilable activities) 950 Management arld administration Igovernance costs) 5 / 2.5 Taxatlon The Cornpany is considered to pa55 the legts sel out in Paragraph 1 Schedule 6 of the Finan Act 2010 and Iheretore it meets the definition of a Charitable company lor UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respe¢l of income or capital gains reiVed wlhin categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to th8 exient that such income OT gains are applied exclusively lo charitable purposes. 2h Investm&nts Investments held as fSxed assets are valued at the mid-markel value at the balan sheet date and the gain or loss on disposal taken to the Statement of Financial Activities. 2.7 Stocks Stock con51$1s of food and cleaning materials and is valued at the lower of cost and net realisatrAe value. 2.8 Unrestrictod fund5 Unrestricted funds comprise donations and other voluntsry incorrE re&Vable or generated for the objects ofthe charity and are available as genèral funds. 2.9 Designated funds These arè unreslricled funds earmarked by the Iruslees for a particular pijrpose. 2.10 Restricted fun(ts Restrict funds are to be used for spe¢ific purposes as laid down by the domr. Expenditure which meets these criteria Is appl1 lo the fund together with a fair all(a"On of management and support costs wheff applicab. 2.11 Dobtors Trade and other debtors are recognised sl the settlement amount after any trade discount offe¥ed. Prepayments are valued al the amount prepaid net of any Ir8de discounis due. Page 17
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY UMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcle$ {¢onlinuedl 2.12 Cash at bank and in hand Cash al bank and in hand includes cash and short-lerm highly liquid investments wlh a short maturity of three months or less from the date of acquisition or opening ol the dèposit or similar account. 2.13 Financial instruments The Company only has financial assets and financial liabilities of a kind that quallfy as basic finanaal inslrumenls. Basic fin8n¢ial instruments are initially recognised al transaction value and subsequendy measLJred al their settlem8nt value with the exception of bank loans which are subwuenuy measured at amortised c051 using the effective interest method. 2.14 Operating leases Rentals paid under opetaling leases are charged lo the Statement ol Financial Activities on a slraighl-line basis over the lease term. 2.15 Pensions The Company operates a defined contribution pension scheme and the pènsion tharge repre8ènls the amounts payable by the Company to the fund in respect of the year. 2.16 Fund accounting General funds are unStrICted fvnds which are availablé for use al the discretion of the Trustees in furtheran of the general objectives of the Company and which have not been designated for other purpose5. Restricted funds are funds which are to be used in accordan with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out In the notes lo the financial stalemenls. Investment income, gains and losses are allocated to the appropriate fund. 2.17 Expenditurg Expenditure is rec(xJnised 0e there is a legal or constructive obligation to transfer economic benefit to a third party, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligatEon can be measured teliably. Expenditure is classified by activity. The c051s of each activity are made up ol th& total of direct costs and shared c051s, including support CO81s involved in undertaking each 8¢tivity. Direct costs attributable to a single 8Ctlvity are allocated direct lo that activity. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned beiween those activities on a basis consistent wth the use of resources. Central staff costs 8re allocated on the basis of lime spent. and depreciation charges allocated on the portion of the as8eVs use. Expenditure on raising funds indudes all expenditure incurred by the Company lo raise funds lor its charitable purposes and indudes costs of all fundraislng activities events and non-¢harilable trading. Expenditure on charitable activities is in¢urred on directly undertaking the actsvilies thich further thè Compan15 objeGtives, as well as any associated support costs. l expenditure is inclusive of IrcOVer&ble VAT. Page 18
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 countlng pollcl&s Icontlnuedl 2.18 Deprecialion of tangible fixed assets Tangible fixed 8ssels are carried at cost, nel of depreciation and any provision for impairment. Depreciation 15 provided al rates calculated lo write off the c051$ of fixed assets, less their estimated residual value, over their expected useful lives on the following b8ses'. Furniture and fittings Equipment Computer equipment 25°/o 33/fj Other fixed a55ets ¢onsist of the costs incurred in rtlalion lo ¢btaining annIng permission for the development of the new home. They are not depreciated untsl the 8sset 1$ in use. Assets are normalty CaFtalISed where tha purchase price exceeds £500. Assets brc¢Jghl in the final nyjnth of financial year end are not depCiated until the next year end coUnts. Critical accountlng 98tlmates and areas of judgmont Eslirllates and judgments a conts'nually evaluated and are based on historical experience and other factors, including expectali(A)s of future events that are believed to be reasonable under the arcumstances. Critical COUn.ng estimates and assumptions.. In prior years, the Charity has been gifted a nun*er of ple$ of athork by donors. The artwork comptises one off pleS whose valtAe cannot be easily determined. Due b the difficulty in assigning a value to the athork, the Trustees are not able to rdiabty measure their fair value. As such, no asset has been recognised in the financial slalemenis. During the period, the Charity disposed of a pieces of art for consideration of 2024.. £Nil12023.' £21,197). The Proceeds on disposal have Lwn recognised as donation income in the slalement of finanal aclivilie5. Incomp from donatÉons and lègacies Restricted Unre5tricled funds funds 2024 2024 Total funds 2024 Totsl ftjnds 2D23 Donations 1,011 1.011 23,844 2,081 Grants 1,011 1,011 25,925 Government grant inwme comprises £Nil {2023 - £2,081) received under the Surrey Council Fair C05t of Page 19
ROYAL CAMBRIDGE HOME LIMITED {A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 fvIARCH 2024 Income fr(¥n ¢h•ritable activities Unrestricted funds 2024 Total funds 2024 Total funds 2023 Residential care fees 1,241,720 1,241,720 1,218,253 Invostment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Dividend incon 1,461 1,461 1,183 Other 5ncoming ro8ources Unrestricted funds 2024 Total fund5 2024 Total funds 23 Staff accommc*8b'on income 831 831 100 Investment management Costs Capital funds 2024 Total funds 2024 Total funds 2023 Portlolio management costs 290 Page 20
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUAR4NTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Anatysl$ of oxperKlituro by actlvities The charity undertakes on princ¢pal activity only, being the wovision of care home services. Activities undertaken irectly 2024 Total funds 2024 Total funds 2023 Suwortcosts 2024 Care h¢)me activities 1,038,846 194,278 1,233.124 1,382.502 Analysi$ of direct costs Total funds 2024 Total funds 2023 Aclivilie5 2024 Staff costs Depreciation Bad dèbts Agency staff Messing Water rates Repairs & garden maintenance Light & heal Insurance Cleaning & waste remova1 CQC gistratiOn fees Advertising Hire of equipment Staff recruitment staff Iralning Care of residents Residents, entertaining 629,081 32,720 629,081 32,720 596,303 49,180 4,456 29,209 88,258 9,590 147,200 91,910 28,008 26,463 55,783 85,510 8,473 51,332 55,691 24,066 29.856 8,438 745 55,783 85,510 8,473 51,332 55,691 24,086 29.856 8,438 745 1781 10,282 3,121 7.039 25,4 9,034 10,974 1,238 6,640 26,561 11,738 10,974 1,238 6,640 26,561 11,738 1,038,846 1,038,846 1,125,471 Page 21
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expendituro by activitles l¢onilnuedl Analysis of support Costs To181 funds 2024 Totsl funds 2023 Activities 2024 Staff costs Motor & travel Staff entertainment 132,114 2,000 7,874 132,114 2,000 7,874 169,423 1,361 5,790 k ill Printing, postage & stationery Telephone General expenses Bank charges Legal & professional fees Computèr and website expenses Governan costs 3,789 1,203 9,993 1,098 11,407 10,766 14.034 3,789 1,203 9,993 1,098 11,407 10,766 14,034 5,405 4,317 8.518 1,055 16,255 12.115 12.792 194,278 194,278 237,031 10. Auditorfs remuneration 2024 2023 Fees payable to the Companys auditor for the audit of the Company's annijal account 5,500 5,040 Fee5 payable tr) the Company's auditor In SpeCt of. Al non-audit setv1$ Thjt incluoled above 8.520 7,740 Psge 22
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Staff costs 2024 2023 Wages and salaries Social $urity costs Contribution to defined contribukn'on pension scheme5 698,957 48.850 13,388 712.487 39,280 13,959 761, 195 765,726 The average rTumber of persons employ&l by the Company during the year was as fdlows." 2024 No. 2023 ResiLlential care Management and minIStration 35 40 39 No employee received remuneration amounting to more than £60,000 in effher year. Key management personnd remuneration tolalled £58,44012023- £54,400). 12. Trusts0$' remuneration and expenses During the year, no Trustees received any remuneration or other nefits(2023- £NILI. During the yeaf ended 31 March 2024, no Trustee expenses have been incurred12023- £NILI. Page 23
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Tangible fixed aets Plant and machinery Motor Fixtures Computer vehicles and fit14.ngs equipment Other fixed assets Total At 1 April 2023 Additions 18,OC 31,772 314,615 2,623 37,794 6,240 341,528 743,714 54,997 63,860 At 31 March 2024 18,005 31,772 317,238 44,034 396,525 807,574 Depr8¢lation At 1 April 2023 Charge lor the year 18,00S 31,772 224,866 23,491 28,068 9,228 302,711 32,719 Al 31 March 2024 18.005 31,772 248,357 37,296 335,430 Net book value At 31 March 2024 68,881 6,738 396,525 472,144 At 31 March 2023 89,749 9.726 341,528 441,003 Othef fixed assets consist of costs to date with regards to the redevelopment of the sile. 14. Investm8nts 2024 2023 Market value brought forward Acqui511ions al cost Sales proceeds from disposals Brokefs management fees Increasel{deereasel in cash deposits Increaselldecrease lir5 market value in the year 50,323 2,240 52,086 8,298 {2,6681 12981 14.0$0} 13,035) 12,5301 5,153 Market value rrIed fOard 55,186 50,323 Page 24
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Market value of investments by class: UK Fixed Interest Bonds UK Equities Non UK Equities Alternative A55els Cash deposits 7,793 15.562 27,S46 3,744 441 5,260 10,922 26,731 4,439 2,971 55,186 50,323 15. stks 2024 2023 Stock of food and Cleaning materials 2,669 2.669 16. Debtors 2024 2023 Due within one year Trade debtor5 Amounts owed by group undertakings Other debtors PpaYMentS and aecrued income 103,134 37,671 1,100 32,971 81,603 37,671 400 34,550 174.876 154,224 17. Creditors: Amounts falllng due within one y04f 2024 2023 Trade creditors Othèr taxation and 8OCsal security Pension fund loan payale Other creditors Accruals and deferred income 229,100 17,797 1,969 4,705 139,496 216,610 12,221 1,787 1,322 113,748 393,Cé7 345.688 Page 25
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUAAANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 MARCH 2024 18. Financial instruments 2024 2023 Flnancial assets Financial a55ets measuffd at lair value through income and expenditure 113,699 105.713 Financsal assets measured al fair value through income and expenditure com¥ise cash and G8sh equivalents. 19. Statement of fund5 Current year Balan at 1 April 2023 Transfers irilout Gainsl ILoss8sl Balance al 31 March 2024 Ineon EXpetlture Unrestricted fund5 General Funds 346,459 1,244,013 11,233,123) 357,349 Endowmont funds End(ywmenl Funds- all funds 50,323 12901 5.153 55,186 Restricted fund$ Special Projects Fund 11,462 1,011 500 12,973 Total of funds 408,244 1.245,024 11,233,413) 500 5,153 425,508 Page 26
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. Statern&nt of funds lcontlnuedl Prior year Balance at 31 March 2023 Balance al 1 April 2022 Gainsl ILc>ssesl Income Expenditure Unrestricted funds General Funds 468,836 1.236,814 11,359,1911 346.459 Balance at 31 March 2023 Balance al 1 April 2022 Gainsl ILossesl Income ExpEnditure Capital funds funds Endwnent Funds- all funds 52,086 12981 11,465) 50,323 Balance at 31 March 2023 Balan al 1 April 2022 Gains/ (Losses} Income Expenditure Restrictèd funds Queen MaS Fund Special Projects Fund 4,815 3,312 6.647 11,482 {3,3121 8,127 6,647 13,3121 11,462 Total of funds 529,049 1,243,461 11,362,801) 11,4651 408,244 Page 27
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 P41ARCH 2024 20. Summary of funds Current year Balance at 1 April 2023 Transfers inlout Gainsl (Losses) Balance al 31 March 2024 IncoTne Expenditure General funds 346,459 1,244,013 11,233,123) 357,349 EndowTnent funds Restricted fLsnd5 50,323 11,462 12901 5,153 55,186 12,973 1.011 500 408,244 1,245,024 {1,233,4131 500 5,153 425.508 Purposes of rèstricted funds Quegn Mary's Fund The fund is to finance entertainrnenl, outings and luxury items for the residents. Special PrO1ts Fund The fund is prirnarily lur the feplacement of large items of equipment. The remaining balan the fund provides for future depreciation of capital items which were originally purchased using restricted funds together rith donation re4V for projects which have not yel begun. Prior year Bala[e al 31 Maich 2023 Balance al 1 April 2022 Gain ILossesl Income Expenditure General funds Endowrllenl funds Restricted lunds 468,836 52,086 8,127 1,236,814 11,359, 1911 12981 13,3121 346,459 50,323 11.462 11,4651 6,647 529,049 1,243,461 11,362.8011 11,4651 408,244 Page 28
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCEAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. Analysis of net assots b8lw•gn funds Currentyear Endo¥Mnenl Restricted Unrestricted funds funds funds 2024 2024 2024 Total funds 2024 Tangible fixed assets Trade investments Current assets Creditors due within one year 472,145 472,145 112,9731 55.188 291,244 291,244 1393,C671 1393,0671 55,186 12,973 Total 55,186 12,973 357,349 425,508 Prior year Er0ment Restricted Unrestricted funds funds funds 2023 2023 2023 Total funds 2023 Tangible fixed assets Trade investments Current assets Creditors due wthln one year 193,374 50,323 247,629 441,003 50,323 262,606 1345,6881 11,462 251,144 1152,3141 1193,3741 Total 50,323 11,462 348,459 408,244 Page 29
ROYAL CAMBRIDGE HOME LIMITED IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. Reconciliation of not movement in funds to net cash flow frorn operating activiti8s 2024 2023 Net IncomelexFendilure for the perlod las per Statement of Financial Activit$) 16,763 1120,8051 Adjustmants for: Depreciation charges Gainslllossesl on investments Dividends, interests and rents from investments Decrease in stocks Increase in debtors Increase in creditors Introduce of Capital fvnd 32,719 15,1531 11,4611 49,179 2,061 11,1831 212 120,6521 47,379 1,081 164,6571 255,535 Net cash provided by operating activities 70,676 120.342 23. Analysis of Cash and cash equlvalonts 2024 2023 Cash in hand 113,699 105,713 24. Analysls of changes In net debt Al 1 April 2023 Al 31 March 2024 Cash fINS Cash al bank and in hand Debt due ufiihin 1 year 105,713 11,7871 7,986 11821 113,699 11.9691 103,926 7,804 111,730 25. Related party Iransactions Al the year end Royal Cambridge Home, parent of the company (Med £37,671 12D23 - £37,671) to the company. Page 30
ROYAL CAMBRIDGE HOME LIMITED (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Ponsion commitments The eompany operates a dined Contribut)n pensK)n scheme. T1 assets of the seJ)eme are held separately from those of the group in an independently administered fund. The pension Gosl charge represents contributions payable by the company lo the fund and amounted to £13.38812023- £13,959). £1,969 12023 - £1,787) of contflbutions were payable to the fund at the balance Sheet date and are included in cfeotilors. 0ratIng1$as0 ClmItmalS At 31 March 2024 the Company had commitments to [rke future minimum lease payments under non- cancellable operating aSeS as follows., 2024 2023 Not later than 1 year 350 3,759 Capital commitments At the beginning of the year the Company entered in to a capital commitment of £8,117,941 relating to the development of the new ear& home at 84 Hurst road . Further d8lails ar8 provid8d in thè Trustee8 reFK)rt. 29. Controlling party The controlling party is The Royal Cambridge Home a registered charity no". 225674, The activities are the samè of those of the company, The parent's consolidated accounts can be obtained from 82-84 Hurst Road, East Molesey, KT8 9AH. Page 31