Baxendale Care Home Annual Report & Accounts for Year Ending 31st March 2025 BAXENDALE CARE HOME '**t ijj 111,: ¥4 ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2025 istered Charit No. 1186304
Baxendale Care Home Annual Report & Accounts for Year Ending 31st MarGh 2025 REFERENCE AND ADMINISTRATIVE INFORMATION The Trustees who served during the period are listed below. Fiona Halstead Colin Liversidge Jose Cronin Andy Henderson BruGe Maunder-Taylor Claire Bannister Peter Smith Ray Ellis (RÈsi9n8d 12th February 20251 Marilyn Testar Peter Burd Brian Hosier Jo Selwyn (Resigned 201hAugust 2025) Chair of Trustees Chair of Finance & Fabric Committ88 The addr8ss ofthe Home is Baxendale, London N20 OEH, and all correspondence should be sent to this addres8. The Secretary to the Trustees is David French FCCA, to whom all enquiries should be made. AGENTS AND ADVISORS Audltors Duncan & Toplls Audit Llmited, 3rd Floor, Marlborough House, 298 Regents Park Rd, London N3 2SZ Bankers Barclays Bank PLC Investment Manag8r CCLA, One Angel Lane, London, EC4R 3AB Sollcitors Anthony Collins, 134 Edmund Street, Birmingham B3 2ES
Baxendale Care Home Annual Report & Accounts for Year Ending 31$t March 2025 TRUSTEES REPORT STRUCTURE, GOVERNANCE AND MANAGEMENT The charity was originally founded in 1861 and the present site of the Home became the property of the Charity by a Deed of Gifl dated 31 October 1892. The Charity was governed by a Scheme underlhe Seal of the Charity Commissioners dated 5 December 1960 as an unincorporated charity, regulated by the Charity Commission of England and Wales. In 2019, the charity applied to the Charity Commission to register as a CIO, operating under the same name. The Charity Cornmission approved Ihe CIO'S constitution with its revised Objects and the CIO was registered on 12 November 2019 (Charity Registered Numbér 1186304). In March 2021 the Trustees agreed to Iransfer the assets and liabilities of the former unincorporated charity lo the new CIO on 1 April 2021. The CIO took on responsibility for all the assets and liabilities of the unincorporated charity on 1 April 2021. The former unincorporated charlly has now been dissolved. The Home is registered by the Care Quality Comrnission certificate numb8r 1-328067446 as a Resid8ntial Care Home (CRH). It can accommodate men and women but underan Orderfrom the Charity Commission with a preferen to women. The Home has 43 rooms and can accommodate up to 45 r6sidents. The aim oftha Trustees is to providè omfortable and as far as possible, independent residential care for all residents. Each resident has their own room and is able to bring thelr own furniture and possessions into that room. There is a communal dinlng room and a large lounge with several smaller areas for quieter activities or for family gatherings. All rooms in the main home are now ensuite. There is a programme of activities for residents to join if Ihey Bo wish. There is no geographlcal limitation for Ihe residents who can be accepted, but the Hom8 18 not r8gislered for nursing care and, therefore. an assessment has to be made to ascertain, as far as possible, that the Hom8 IS suitable for the person conc8rned. Residents are accepted who are both financially independent and those who either now or in the future may need to rely on some financial assistance from a local authority. In these casès the prior approval of the local authorlty has lo be obtained before the residency is taken up. In addition to full time residency the Home does cater for respite care. ORGANISATION STRUCTURE Th& Constitution directs that there should be at least 8 Trustees responsible for Ihe administration of the Charity and of its land, buildings, investments, cash, and olher assets. There is no upper limlt. The quorum for a valid meeting is three or one third of the trustees whichever is the greater. Trustees serve for a period of five years and may then be re-eleGted by th8 remaining Trustees. Any appoinlment is approved by a majority vote of the continulng Trustees. New Trustees have induction training with Ihe secretary. There are, In addition, tmto principal sub cornmittees. Finance and Fabric. This Committee advises the Trustees on financial matters, the maintenance and improvement of buildings, fees to residents and major staffing matters. The Committee usually meets four times 8 year. House Committee which must have al least one Trustee on its membership and is under the leadership of a Trustee. It usually meets twelve times a year and gives oversight of the slaffing and day to day administration of the Home, and the health and well being of residents whilst giving general supportto the manager. The day to day running of the Home is under the supervision of Jacqui Gordon the registered manager suppcrtÉd by David French, nominated individual.
Baxendale Care Home Annual Report & Accounts for Year Ending 31st March 2025 Risk Management The Trustees have considered the key risks which face the Charity, and these are.. A failure to attract new residents Difficulty in recruEting suitable staff The obso185renGe of buildings and plant Complying with ever Increasing regulations and legislation The Trustees endeavour to mitigate these risks as follows. To maintain a high level of client satisfaction which ProdUS referrals and favourable reports from monitoring organisations. The profile of the home is enhanced by regular advertising, a good website and social media. The Trustees have a policy of paying the London Living Wage as a minimum to all staff and to retain the differential for more senior staff. There is a pension scheme for all staff and regular appraisals and training giv6 opportunities for progression in th6 organisalion A dedicated fund is used to look after the home's buildings and essential equipmÈnt, helping lo make sure the environment remains safe, comfortable and pleasant for residents. As plann&d, this fund has been used to support the recent refurbishment, bringing dire improv8ments to residents, day-lo-day living Spa8. W8 will continue to build this fund over time so the home can be refreshed and cared for w811 into the future, for the benefit of both current and future residents. The Trustees have agreed to keep a strong management team to give more support to the manager in anticipation of keeping up to date with changes on a timely basls. Policies and Procedures ar8 reviewed on a regular basis. The task of monitoring the Charlly's financial control systems Is delegated to the Flnance and General Purposes Committee. We contlnue lo keep under review the adequacy of the controls which w8 consider to be appropriate for the size and nature of this charity. Statement of Trugtees, Responslbllltles for the Annual Accounts The Trustees are responsible for preparing the Trustees, Report and th8 financlal statements in accordance with applicable law and United Kingdom Accounting Slandards {United Kingdom Generally Accepted Accounting Practice). Th& Law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each flnanci21 year which give a true and fair view of the state of affairs of the Charily and of the incoming resour8 and application of resourtss of the Charity for that period. In preparing these financial statemenls, the Trustee8 are required to.. select suitable accounting policies and apply them consistently. observe the methods and principles in the Charities SORP (FRS102J. make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements, and prepare the financial statements on the gDing concern basis unless it is inappropriate to presume that the Charity will continue in operation.
Baxendale Care Home Annual Report & Accounts for Year Ending 31s1 March 2025 The Trustees are responsible for keeping proper accounting records that disclose with reasonabl8 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, and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for laking reasonable steps for the prevention and deteGtion of fraud and other irregularities. Financial Review This has been a very good year for 8axendale, with income increasing by 290k to £2.7M and an operating surplus of £126k. The successful completion of the refurbishment has transformed the environment, giving residents and staff a greatly improved facility that has been warmly welcomed. Occupancy has remained consistently high, and resident satisfaction continues to be strong, reflecting the quality of care and comfort provided. The Home's reputation has been further strengthen8d, and the Trustees are confident in its ongoing stability and future growth. The financial position has improved significantly compared to the previous yéar. Strong occupancy and inveslrnenl Income supported the Home's operations, while expenditure remained carefully managed in line with our commitment lo high-quality care. The TrustÈes also acknowledge the ongoing cost of living pressures and have ensured that pay in¢rease8 reflect Ih8ir support for staff, helping the Home to recruit and relain the skilled team needed to deliver excellencé in care. Lcoking ahead, the Truslees are committed to contSnuing inveslrnent In the Home to ensure it remains high-quality environment for residents and competitive wilhln the sector. The year ended with a posilive operating position, backed by robust r8serves and sound financial governance, provlding a s8¢ure foundation for the futur8. Overall, the long-term positlon of the Hom8 IS strong, with sound reSee8, committed slaff, and g clear vislon for Ihe future. We are in a good plac8 to Continue dellvering outstanding care and ensuring that Baxendale remains a trusted and much-valued home for ils residents.
Baxendale Care Home Annual Report & AGGounts for Year Ending 315t March 2025 Investment Powers, policy and performance There are no specific investment powers in the Constitution and, therefore, the provisions of the Trustee Act 2000 apply. The Trustees continue to hold longer term funds in CCLA for them to manage in th8ir Charities Ethical Investment Fund. The investment policy is aimed at a two-fold return. The Trustees aim for safe long-term growth in the value of investments. Income generated to support our I&E position is the second requir&ment. Reserves Th8 Trustees have reviewed th8 level of reserves in line with the guidance issued by the Charity Commission. In past years, surplus funds have been invested in property and quoted investments to provide a regular and sustainable incomè stream. These investments have been drawn partly from the Permanent Endowm8nt and partly from Unrestricted Funds, and are treated as Fixed Assets on the Balance Sheet. Values, particularly of investment properties, have increased substantially over tim8, although these r&main unrealised gains. Improvements to the Home have largely been funded from Unrestricted Funds. The current balance on non-designated Unrestrided Funds is equivalent to around twelvè rnonths of operating costs, being £2.32M123124 £2.37MI. Total reserves are £12.5m (23124 £12.6M). The Trustees, principal objective is to provide a hom8 for the aged who need assistance. They recognise that while many elderly people require more than financial support, affordability does play a part. To meet thls need, fees are kept below market rates, and the home works with local authorities to accept residents al lower f8es where necessary. With the ongoing pressures on local authority finances, the Trustees acknowledge there Is an increasing risk that referrals may rèduce, and that some dlrect funding could be required in the future. Maintaining a strong financial po8lllon is therefore 8ssential. On thos basis, the Trustees consider the current level of reserves to be appropriate. Th8y remain committed to generating funds to relnvest in the Home, ensuring continued 6xCellen in care, long-term sustainability, and the ability to respond ftexibly to future Challenges. Achievement and performance It has been a good year for th8 Home during 2024125. We sucsSfUllY completed the refurbishment programme, and the new facilities now provide a greatly improved environment for our residents, staff, and visitors. Feedback has been overwhelmingly positive, with residents enjoying the enhand surroundings and ¢onslstently high levels of satisfaction. Occupancy remained strong Ihroughoul the year, giving Ihe Trustees confidence in both the financial stability and the continu8d reputation of the Home as a welcoming and supportive plac8 to live. We al80 recognise the importance of our Dementia Wing in supporting residents with a wide range of needs, in an environment that feels safe, familiar and inclusive. The interior and exterior spaces have recently been refurbished to create a comfortable, calm and supportive selting, focused on dignity, reassurance and wellbeing. Alongside these improvements, we have strengthened safety by replacing the fire escape and upgrading the conservatory area, ensuring the wing continues to meet high safety standards while remaining a welcoming and compassionate Spa for residents, families and staff.
Baxendale Care Home Annual Report & Accounts for Year Ending 31st March 2025 By the end of the financial year, the Home was Close to full capacity. Our fees remain competitive and offer excellent value for money in what is a very competitive sector, ensuring that we continue to attract and retain residents while maintaining the highest quality of care. The refurbishment has included the creation of a new cinerna room and a brand-new terrace overlooking the lake, both of which have been warmly received by residents and their families. These facilities provide not only comfort but also opportunitie5 for social engagement and wellbeing, enhancing the overall quality of life for those who live al the Home. The demand for good quality staff remains high across the sector, and during the year the Trust8es have remalned committed to recruiting and retaining a skilled and dedicat6d workforce. Pay increases were introduced to help mitigate the impact of inflation, supported by additional benefits such as the workplace pension scheme. Whlle our use of agency staff has risen in areas that are harder lo recruit, we recognise that filling these posts is essential to maintaining our high standards of care and ensuring residents remain at the heart of everything we do. Works on the entrance and exterior of the Horne progressed during the year, and by the end of 2024 we complated a three•year period of refurbishment and renewal. This investment ensures that residents, their relatives, and our staff benefit from first-class accommodation and facilities, securing a high-quality environment for many years to come. Publlc 8eneflt The Trustees are very aware of th8ir responsibllity to ensure the Hom9 provides real public benefit. In planning our actlvities, we always keep the Charity Commlssion's guidance in mind, especially the advlce for charities that charge fees. Our Home is open to all older people in need, what8ver their background, faith, gender, or personal ¢ir¢umstances. The only condition plac&d on us by our Charitable Trust is to give preference to women. Every new resid8nl is offered a short trial stay to make sure their needs Can be properly met, followed by a welcome m8eting lo help them and their families feel al horne. We set our fees carefully to cover the running costs of lh8 Home, including ongoing maintenance. B8cause we own the freehold ofthe building within our Permanent Endowment Fund, there is no rent to pay. We do not actively fundraise, and any legacy gifts we recelve are used to support running costs, unless the donor has asked otherwise. This way, the Permanent Endowment Fund is prèserved for the benefit of future generations. We also recognise that some residents come through local authorlty support. No resident has ever been asked to leave the Home because they could not pay their fees. The Trustees and management are proud that the home offers not only excellent value for money bul also real peace of mind for residents and their families.
Baxendale Cwp Home Annual Report & Accounts for YearEnding 31st Mah 2025 Arrangements for settlng pay Our stsff are al the heart of everythlng we do, and the Trustees are Committed to recognlsing their hard work and dedlcation. Pay is reviewed * loast On a year to ensur8 il remains fair, competrtlve, and supportiv& of staff wellbeing. We have pledged that no member of staff will bg paid tes8 than the most retlY announGed London Living Wage. and we maintain fair differentials for more senior roles to reflect responsibility. In addition, excèptional perforn)an is acknowledged outsrde of th8 annual review process, so that irKlividual contributlons can bo rewarded when they make a real difference. Thls approach reftects the Trustee8' commitment not only to providin9 8e¢uTIty and reCogniOn for our staff, but al80 to creating a workplace where p60ple feel valued and motivated to dellverth8 very best care for our resldenls. Alms and Plan8 forthe Futuro Looking to Ihe future. our locus reÈnain8 fimily on thè peopl6 who call Baxendale their home. Wa want every resident to feel safe, ¢ared for and valued, and to enloy the very beet quallty of Ilfe we c8n provlda. This includ88 en8uring that residents living with demenlla receive the spoGialist support they need, delhfered wlth ¢ompa881on. und8rst8nding and dlgnlty, We will continue to invest in the Homa 80 that rt rémalns welcomlng. modern and of the high&8t quality. Our newly refurbishad spac8s, includlng the cinema room and the terraco overlooking Ihe lake, demonstrate how thoughtful Investment can frnrich everyday life for rn8idents and Greate w8lcomlng space8 forfamillos and vl8ltor8 to enjoy togelher. Safety and comfort ara a prlorlty. ar we are committed to making 8ure all rasldents eAn move around the Home easily, Confidently and wllh dignlty. To 8UPPOrt thls, we are 8coping the moderni8ation of the existlng lift alongside tho ins1811atlon of a 8econd lfft, Improving acces6ibillty and r88l[len for the future. By comblning caTrfvl financial ¥tewardship with a d88p commltment to wam)th, compassion and per80n- cenlred care, Iha Trustee8 are Confident that Baxendale will continu8 to thrive 8nd romain a trusted home for resid8nts and families lor gonérations to come. Flnanclal statemonls The accounlg comply with currert statutory requirements, the requirements of the Charity's govemlng document and the requirements of the Siat8ment ol Remmend&d Praclice "Accounting and Reportlng by Charltie$° (FRS102). Ofrl BEHALF OF THE TRUSTEES Ms. Flona Halstead Chalr Dated: Ig
Bsxendale Care Home Annu81 Report & Accounts for Year Ending 3151 MarGh 2025 IndependentAuditor's Report to the Trustees of Baxendale Care Hom8 Opinion We have audited the financial statements of Baxend8le Care Home (the 'Charily'} for the year 8nded 31 March 2025 which eomprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows, and notes lo the financial statements numbered 1-16, including a summary of significant acGounting 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 Practi). In our opinion the financl81 statements.. give a true and falr view of the State of the Charity's affairs as at 31 March 2025, and of its incomlng resources and application of resources, for the year then ended., have been properly prepared in accordan¢e with United Kingdom Generally AccÈpted Accounting Practice,. and have be8n prepared in accordance with the requiremenls of the Charities Act 2011. Basls for opinlon We conducted our audit in accordance with Int8rnational Standards on Audlting (UK) (ISAS IUKI) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial slat8ments section of our report. We are independent of the Charity in accordance wlth the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities In accordanGe with these requirements. We believe that th8 audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclu$lons relatlng to golng concern In auditing the financial statements, we have Goncluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statemants is appropriate. Based on the work we have performed, we have not identified any material uncertalnties relating to events or conditions that, individually or collectively, may cast significant doubt on th8 ch8rlly's ability to Continue as a going ¢on¢ern for a period of at least twelve months from when the financial statements are authorised for issu8. Our responslbilities and th8 responsibilities of the trustees with respect to going Concern are described in the relevant sections of this report. Other informatlon The other information comprises the information included in the trustees, annual report, other th8n the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the oth8r information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other informatlon and, in doing so, consider whether the oth8r information is materially Ineonsislenl with the financial slaternenls or our knowledge obtained in the course of the audit or otherwise appears lo b8 materially misstated. If we identify such material inGonsistencies 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.
Baxendale Care Home Annual Report & Accounts for Year Ending 3tsl March 2025 Matters on which we are required to report by exception We have nothing lo 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 18 inconsistent in any material respect with the Trustees, Report., or sufficient accounting records have not been kept., or the financial statemènts are not in agreement with the accounting records., or we have not received all the information and explanations we require for our audit. Responsibilities of Trustees AS explained more fully in the Trustees, Responsibilities statement, the Trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to 8nable the preparation of financial statements that are free from material misstatement, whether du@ to fraud or error. In preparing thè flnancial statements, the Trustees are responsible for assessing ihe Charity's ability tD continue as a going concern, dlsclosing, as applicable, matters related to going concern and using the golng concern basis of accounting unless the Trustees either intend lo liquidate the Charity or to ceas8 operations, or have no realistic alternative bul to do so. Audltor's responsibllltles for the audit of the flnanclal statements We have been appointed as auditor under section 144 ofthe Charities Act 2011 and r6Part in accordance with regulations mad8 under section 154 of that Act. Our objectlves are to obtain reasonable assurance aboul whether the financial statements as a whol6 are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. R88s0nable assurance is a high level of assuranc8, bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delect a material misstatement when il exists. Misstatements can arise from fraud or error and are considered material if, indlvidually or in the aggregate, they could r8asonably be 6xpected to influence the economic declsion8 of users taken on the basis of these financial statements. We have Identified areas of18ws and regulations that could reasonably be expected to have a material effect On the financial statements from our general commerclal experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with Trustees and other management obtained as part ofthe work required by auditing standards. We have also discussed with the Trustees and other management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-Gompliance throughoul the audit. The potential impact ot different laws and regulations varies considerably. Firstly, the charity is subject to laws and regulations that directly impact the financial statements {for example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statements audit. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgemental areas of the financial statements such as depreciation of fixed assets, as well as the risk of inappropriate journal entries to increase reported profitability. Audit procedures performed by the engagement team included the identification and testing of material and unusual journal entries and challenging management on key accounting estimates, assumptions and judgements made in the preparation of the financial statements. We carried out detailed substantive tests on accounting estimates, including reviewing the methods used by management to make those estimates, r&performing the calculation, and reviewing the io
Baxendale Care Home Annu81 Report & Accounts for Year Ending 31sE March 2025 outcome of prior year estimates. Secondly, the charity is subject to other laws and regulations where the consequence for non- compliance could have a material effect on the amounls or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect: Health and Safely regulations and Employment laws. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection. Through these procedures, if we became awar8 of any non-compliance, we considered the impact on the prOdureS performed on the related financial statement items. 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 rnisstatement in the financial stalemenls or non-compliance with regulation. This risk increases th8 more that compliance with a law or regulation is removed from the &v&nts and transactions reflected in the financial statements, as we will be less likely to beGome aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation. A further déscription of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al.. ww.frc.org.uklauditorsresponsibilltiÉs. This description forms part of our audltor's report. Use of Our Report This report is made solely lo the Charity's Truslees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has beèn undertaken so that we might state to the Charity's Trustees those mattèrs we are required to state to tham in an auditor's report and for no olher purpose. To the fullest extenl permitt8d 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 hav8 formed. Duncan & Toplis Audlt Ltd Statutory Auditor 3rd Floor, Marlborough House 298 Regents Park Rd London N3 2SZ Date:...l¥. -..l............. Duncan & Toplis is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
Baxendale Care Home Annual Report & Accounts for Year Ending 31st March 2025 STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDING 31st MARCH 2025 P•rrnanent Endowment Fun £ 0.8 Total 2025 Total 2024 Unro¥trlcted £ 000.5 R*$trl¢ted £ OOO'S Not05 £ 000,5 £ OOW8 In¢om• from.. IncvTh from charfIab activitie Oonalions and legacies charitab a¢livities Inve51menl Incoffe Other Inco Total Income and ondowments 15 1,778 285 2,451 2,451 233 233 2,457 233 2.890 2.OBO Expendltur6 on.. 2,538 2,538 2,222 33 2.25S Other Total •xp8ndlturg 2,564 2,564 Not In¢ome I l$xpendlturo1 b•for• Galn8 1110888•1 on Invostments 11071 233 126 11761 Galns I Ilo&$osl on listed InStMnIS 11cei 296 Gain5 11108$e$l on InV•snI property 11671 1671 500 Not Income I18xp¢ndltur•l 12741 127 11471 620 Galnb I Ilosièsl on Flx8d NAsois Transf#r# behvn fund$ 233 2331 Not mov•m•nt In fund• 1411 11061 11471 620 R•¢onclll¥tlon of fund#'. Totsl lund8 brought forworil at l•t Aprll 2024 2.420 10.215 12.635 12.015 Total fund8 corrled forwlrd at 31$t March 2026 2,379 10,109 12,488 12,835 All amounts relate to continuing aclivilies. The statement of financial activities includes all gains and 5osses recognised in the year. The 2024 comparative analysis is shown in note 16. The notes on pages 15 10 24 form part of these financial statements 12
Baxendale CaTr Hon7e Annual Report & Accounts for YearEnding 31EI March 2025 ST BALANCE SHEET AS AT 31 MARCH 2025 21)25 £ ODD'S £ IJOO'S FIXED ASSErs Tangiblè assets 7,719 4.703 6.460 5.226 CURRENT ASSETS Debtors and pr¢paym8nts Inwsbwnts C88h at b4nk and In hand 87 188 1,251 1,299 CREDif¢)RS: amounts f4lllng dua vlthln on• ygor 350 NEf CURRENT ASSET8 TOTAL A88Ef$ Less CURRENT LIABILTfiES 11636 CREDrroRS: an>)unt• I4n0 du• after on• y••r TOTAL A8SEf8 LE88 UOBILmE8 12 CApifAL FUND Porrronent Endry•wf•tt Fund 9115 10,109 10,215 INCOPE FUND Unre¥trsGted Fund DeslonaW Fund8 2.329 2,370 50 10 TOTAL FUNDS Approved by the Board of Trustses on - I -XC• and signed on thelr beh8lf by Ms Fiona Halstead- Ctiair of Tru8t9¢8 . Trustee 13
Baxendale Care Home Annual Report & Accounls for Year Ending 31st March 2025 CASH FLOW STATEMENT AS AT 31ST MARCH 2025 2025 £ OOO'S 2024 £ OOO'S Ca8h flow from operating act5vStle$ {1791 (155) Cash flow from Investlng actlvltles PayThnts lo acquire tangible fixed assets Payments to acquire inS1rnents Invèsln*nt in¢0e reCeId {1,367} 233 285 Sale of In¥eslments 250 1,100 1105} Net cash flow from Inv08tlng a¢tlvltlg8 18841 Net ca8h flow from flnanclng actlvltle8 {1.063} 12601 Net Increase In caoh and ca•h equlvalent8 Cash and cash equiwdlents al 1 April 2024 1,251 1,611 Cash and cash equivalents al 31 March 2025 188 1,251 Change In Cash and Ca8h Equ5valent8 11,0631 12601 Ca8h and ca8h 8qulvalent8 con818t of: Cash al bank and in hand 188 1,251 1,251 188 Reconclllatlon of net Income 1 {expendtturel to net ca8h flow from opèratlng actlvltle8 Nel income I le4)endiknrel for year 11471 620 lnvèsnl IncorrÉ reCeId 1233) 108 12851 78 Depreciation of fixed assets (Gainsl I losses on investrrEnts (Gains) I losses on in$trnent property Ilncreasel I decrease in stock Ilncreasel I decrease in debtors IDecreasel l increase in creditors Net cash flow from operatlng activitie8 106 12961 {5001 167 1191 11611 11791 223 11551 14
Baxendale Care Home Annual Report & AcGounts for Year Ending 31$1 March 2025 NOTES TO THE FINANCIAL STATEMENTS For year ending 31st March 2025 ACCOUNTING POLICIES When the charity converted from an unincorporated trust to a CIO in March 2022, the change was treated as a merger under the Charities SORP. This means the assets, liabilities and funds are shown as if th6y had always been part of the CIO. These financial statements have been prepared In line with- Accounting and Reporting by Charities ISORP FRS 102, October 20191 FRS 102 - the Financial Reporting Standard applicable In the UK and Republic of Ireland The Charities Act 2011 UK Generally Acceptgd Accounting Practice {UK GAAP) The Charity is a public benefit entity and the accounts have been prepared mainly on a historical cost basis, except where investment properties and investments are r8valued, The Trustees are confident that there are no material uncertainlies about the Charity's ability Ic continue operating. The key ludgements made in preparing the accounts include the valuation of Investment properties (see Note 5). Looking forward, the main uncertainty remaSns how investments will perform in future years. The Trustees, 8pproach to investments is explained in more detail in the Trustees, Rèport. GOING CONCERN The Trustees have considered the level of funds currently held and th8 exp8Cted income and expenditur6 for at least the next 12 months. On this basis, they are satisfied that the Charity has enough resources to continue in operation for the foreseeable future. The financial statements hav8 therefore been prepared on a golng concern basis. INCOME Donations and legacies are recognised once it is clear that they will be reIVed and the amount can be reliably measured. Income from charitable activities mainly relates to fees charged to residents and lo local aulhorilies. These are recogni8ed on an accruals basis. Any income received In advance is ghown as deferred income. Investment incom8 includes divldends, rent, and interest on funds invested. Dividends are recognised when declared, rent and interest on an accruals basis. EXPENDITURE Expenditure is recorded on an accruals basis, meaning costs are matched to the period to which they relate. Charitable activities include all costs directly related to running thÈ Home, such as staff, care, and facilities. Governance costs include items such as audit, legal, and professional fees, as well as the cost of Ihe Finan Managers costs. PENSION CONTRIBUTIONS The Charity contributes to a defined contribution workplace pension scheme for all staff. Contributions are charged lo the accounts as they fall due. 15
Baxendale Care Home Annual Report & Accounts for Year Ending 31$t March 2025 NOTES TO THE FINANCIAL STATEMENTS For year ending 31st March 2025 TANGIBLE FIXED ASSETS The Trustees capitalise all fixed assets that cost more than £1,000 and have a useful life of more than 5 years. All tangible fixed asset cat8gories are stated at cost. DEPRECIATION The Charity capitalises fixed assets that cost more than £1,000 and are expected to last more than five y8ars. These are recorded at cost and depreciated over theor expected useful lives as foll¢)ws'. Equipment.. 10% straight line Furniture, fixtures and fittings.. 10 % straight line Conservatory.. 10 % straight line Freehold land and buildings.. 1 Oh slraight line The 1 •k depreclation rate on freèhold bulldings was inlroduced to reflect the fact that r8furbishments do wear over time and will require further investment. INVESTMENTS Investments are carried at fair value, with changes in value (whether realised or unrealisedl shown in the Statement of Financial Activities. Listed investments are valued at mid-market price at the balance sheet dale. INVESTMENT PROPERTIES Investment properties are r8valued annually, wilh movements in value recognised in the Statement of Financial Activities. Th8 property Is valued by Bruce Maunder-Taylor FRICS MAE and Is valued on the basis of income yield, which was assessed as 6 % of the property value. DEBTORS AND CREDITORS Debtors and creditors due within one year are shown at the amount expected to be received or paid. Any losses from impairment are r8cognised in expenditure. LOANS AND BORROWINGS Loans and borrowings are recorded at the amount received, adjusted over time for cosls and interest using the effective interest method. FUND ACCOUNTING The Charity has three lypes of funds.. Unrestricted funds- available for general use in line with the Charity's aims. Designated funds - set aside by Trustees for specific purposes. Permanent Endowment- funds that rnust be held permanently, with only income applied. 16
Baxendale Care Home Annual Report & Accounts for Year Ending 31$t March 2025 NOTES TO THE FINANCIAL STATEMENTS For year ending 31st March 2025 1. RESOURCES EXPENDED 2025 Unrestri¢ted £ OOO'S 2025 2025 Restricted:ndowment Fund £ 000.5 £ OOO'S 2025 Total £ 000.8 2024 Total £ OOO'S Charltable a¢tlvlti¥s Staff salaries Catering ¢0815 Cleanlng and househoh ProoramrnB actIlIeS Medical sèNrieÈs 1,808 138 1,808 138 1,658 125 39 12 12 12 Regislratson f¢e$ Garden 10 10 Rep81rB & renewal eqpment Ughl and heat Rate8 Insurance W?ler and sewEgè Waste couectton 08pr8¢lation EqUiprn1 hlre TephOn8 Prinllng. $t8donery & postsg8 Adverbslng. brochures and web$lle Sundry eypenses Gifts lo residents IT Support staff advertising & Iralnlng Bookkeeping and secretarial ConsuAancy 104 104 52 125 125 102 131 29 131 29 20 12 108 12 108 78 22 37 37 10 10 11 11 12 12 19 15 2,638 15 2,638 13 2,222 OthÈr Sè¢relarial Ser¥Aces Audit Bank Fees L8g81 and Professional 12 12 26 26 33 2,564 2,S64 2,256 17
Baxendale Care Home Annual Report & Accounts for Year Ending 31s1 March 2025 NOTES TO THE FINANCIAL STATEMENTS For year ending 31st March 2025 TOTAL RESOURCES EXPENDED Staff Dopreciation Costs £ LYIVS Other Costs £ 000.8 Total 2025 £ OOO'S Total 2024 £ OOO'¥ £ OD5 Charitable activities Other 1,808 108 622 2.538 26 2,222 33 1,808 108 648 2,S64 2,255 Staff co$l$'. Wages and salarie8 Social security co$1$ Agency staff Penslon contributions 1,526 138 83 63 1.379 118 106 55 Employ•g8 earnln9 rnore than £60,000 Average numbgr of Employees 61 R•muneralion lo Trustees Key Management Personnel 176 188 2. TRANSFERS BETWEEN FUNDS The granting of the investment power of total return was given on 1 November 2006. During the year, the Trustees made a transfer of £233k unapplied lotal return to unrestricted funds in respect of the charitable activities of the Charity. This amount was Ihe incorne receivable during the period from dividends, inter&st, rents and is comparable to the incorne that would have been credited without the power. In these circumstances it was thought unnecessary to take further advice. TRANSACTIONS WITH TRUSTEES AND KEY MANAGEMENT PERSONNEL No remuneration was paid to any Trustee (2024 - none). Total payments to key Management personnel arnounted to £175,796 (2024 - £188.404}. No amounts were reimbursed to the Trustees for cosls incurred on behalf of Baxendale (2024 - £nil) 18
Baxendale Care Home Annual Report & Accounts for Year Ending 31st March 2025 NOTES TO THE FINANCIAL STATEMENTS For year ending 31st March 2025 TANGIBLE FIXED ASSETS Furniture, Flxtures & Flttlngs Fr•ehold Land & Buildin98 Con$ervalory Equlpm•nt Total £ 000,8 38 £ 000,5 6,474 1.162 £ OOO'S 238 57 É 00(Y8 245 £ OOO'S 6,995 1.367 Cost brought frjrward 1st April 2024 ajdilions Transfers from Inveslment Pioperty At 31 March 2025 38 7,638 295 393 8,362 Deprèelouon at 1 Aprll 2014 Charge loi period At 31 March 2026 36 217 227 18 246 535 IQ8 643 77 132 38 228 NET BOOKVALUE8 At 31 Mar¢h 2025 10} 7.S03 87 7,719 At 31 March 2024 6,419 21 18 6A60 The fixed assets are used by the Hom8 for ils charitable a¢tivllies. FIXED ASSET INVESTMENTS 2026 £ 000,8 2024 £ 000,9 UK Investment prop•rtl•$ Opening cost I valuation 1 Ppril 2024 Ntst unreallsed Inveslmenl gain6 1 Ilosse$l DIspts58ls at markal value Clo$lng markel valu• 31 March 2025 2.400 11671 ioi 2,233 2,575 500 1675 2.400 Hlstoric81 cost8s 8t31 March 2025 479 479 Llstèd Investments Opening market valu¥ l A¢ril 2024 Nèl inve8lment galns I Ilosse81 Reali8alion of Inve8tménl$ Transfers from Curronl Market Investments Closlng maTket value 31 March 2025 2,826 11061 12501 3,508 291 11,1001 130 2,827 2,470 CIc>sing histodc cost 88 al 31 Maich 2025 2.721 2.971 C108ing total markot value 31 March 202S 4,703 5.226 Closing total historic ¢081 as at 31 March 2025 3.201 3,450 All of the listed investrnenls are held in a fund managed by CCLA and includes the Extraordinary Repairs fund IERF) which had a closing value of £36k and included a capital loss of £1,OOOk. This fund sets aside monies for any extraordinary repairs as approved by the Trustees. 19
Baxendale Care Home Annual Report & Accounts for Year Ending 31st March 2025 NOTES TO THE FINANCIAL STATEMENTS For year ending 31st March 2025 Valuation of Fixed Asset Investments The freehold land and buildings h81d as Fixed Asset Investments were valued on an open market valuation as at 31 March 2025 by Mr Bruce Maunder-Taylor a Chartered Surveyor and a Trustee. CURRENT ASSET INVESTMENTS 2025 £ 000,8 2024 £ 000.8 Quoted Investments: Opening market value 1 April 2024 Additions- Extraordlnary Repair Fund Nel unrealised Investment gains l {losses) Transfer to Fixed Ass8t Investments Market value 31 March 2025 125 (130) 130 Closlng Historical Cost as at 31 st March 2025 DEBTORS 2026 £ 000,8 2024 £ 000.6 Prepayments Trad8 Debtors L8gacy Debtors Other debtors 37 30 45 67 48 CREDITORS 2025 £ OOO'S 2024 £ OOO'S CREDITORS: Amounts falllng due wlthln one year Trade creditors Other taxation, social security and pension Accruals Other Creditors 107 41 32 278 40 36 189 350 CREDITORS.. Amounts falling due after one year 20
Baxendale Care Home Annual Report & Accounts for Year Ending 31st March 2025 NOTES TO THE FINANCIAL STATEMENTS For year ending 31st March 2025 9. PERMANENT ENDOWMENT The original Charity was creatèd by Deed of Gift dated 31 October 1892 comprising of freehold land and property at Totteridge Lane, London N20 and investments. These were incorpcrated Into a Scheme und&r the Seal of the Charity Commissioners dated 30 December 1960. 10. DESIGNATED FUNDS The Income funds of the Home include the following designated funds which have b&&n set aside out of unrÈstriGted funds by the Trustees for specific purposes. Mov•monts In Resgrv88 Balance 1st April 2024 £ OO¢Ys Incomlng 2025 £ OOO'S Outgo5ng 2025 £ 000.8 Balance 31st March 2025 £ OCKJ'$ Mary Westby Repairs Res. so 50 50 50 1st Aprll 2023 £ OOtr¥ 2024 2024 318t March 2024 Mary We8lby Repairs Res. 97 635 732 (97} {5851 {6821 50 50 The Repairs Reserve is designated for the long-term maintenanGe requirements ofthe Home. The reduction in the repairs fund during this year reflects the cosl of the ground floor refurbishment project. 11. RESTRICTED FUNDS There are no restricted funds held by the home at the current time. 21
Baxendale Care Home Annual Report & Accounts for Year Ending 31$t March 2025 NOTES TO THE FINANCIAL STATEMENTS For year ending 31st March 2025 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2025 Tangible Fixed A$sets £ 000.5 Net Current Assets £ OOO'$ Investrnents £ OOO'S Totsl £ OOO'S UNRESTRICTED FUNDS General Designat8d 3,691 11,3621 2,329 50 691 ENDOWMENT FUND 4,028 4.653 1,428 10.109 68 2024 Tangiblg Flx•d A869ts £ 000,8 Net Current A$s•ts £ OOO'* Inve8tm•nts £ 00ty8 Total £000 UNRESTRICTED FUNDS General D•sign81ed 2,32S 44 2,370 50 50 44 ResTRIGTED FUNDS ENDOWMENT FUND 4,134 5,175 905 10,214 13. RELATED PARTY TRANSACTIONS None were reported (23124 NIL) 14. FUTURE COMMITMENTS There were no future commitments noted for the period 25126. 22
Baxendale Care Home Annual Report & Accounts for Year Ending 31st March 2025 NOTES TO THE FINANCIAL STATEMENTS For year ending 31st March 2025 15. APPLICATION OF THE POWER OF TOTAL RETURN The Charity Commission permitted the Trust lo adopt the use of total return in relation to its permanent endowment investments and this has been appli8d slnce 1 January 2006. This power permits the Trustees to invest the portfolio lo maximise total return and to apply an appropriate portion of the total return to income each year. Until the power is exercised to transfer a portion of unapplied total return to income (as disclosed in the fund transfers, note 2), the unapplied total return remains invested as part of the Permanenl Endowment. The original gift to the Charity was eslimaled as al 30 December 1960 and agreed with the Charity Commission. The balance of the Permanent Endowment as at 1 January 2006 was then agreed as the unapplied total return. 2025 9,936 2024 9,645 Unapplied retum as at 151 April Add.. Inveslm&nt return.. Divldends, Interest, rents Gains I (losses) 233 106) 10,063 285 291 10,221 Less.. Unapplled total retum 233 285 Balance carrled fonvard 9,830 9,936 Add.. Origlnal value of glft 279 279 Permanent Endowment Fund Includlng unapplled return 23
Baxendale Care Hon7e Annual Report & Accounts for Year Ending 31 March 2025 NOTES TO THE FINANCIAL STATEMENTS For year ending 31st March 2025 16. STATEMENT OF FINANCIAL ACTIVITIES 2024 The following is the statement of finanGial activities for Gomparative purposes for year ending 31. March 2024. pe8nt Endowment Fund Total 2024 Tot812023 Unr85tricted £ QOO'S Rèstrlcted E DDO'S InGOrne frorn.. Income from Charllabjs xllvllie8 Donaiitsns and legacl88 Ch8rit?ble activilifjs Invesimenl In¢onK Olh8r Intome Totsl Incom• and ndowmtrnts £00 £ OOO'B 15 1,778 15 1,778 285 58 1,356 285 285 1,795 28S 2,080 1,710 Expendrtur8 on.. Charllable acilvlli Oth?r Total exp8ndlture 2.222 32 2.255 2.222 33 2,2S6 1,975 41 Not Incornfr I lexpendltur•l bvfor• Galn$ I11088•81 on Snv88trngnt 14801 285 11781 13081 Galns 1119$6etsl on lJsl•d Inv•stnIS 291 295 12041 GalDI I110ss?$l on inveslmnt property 500 500 7801 N•t Inc¢Mn• I lexpondltur•l 676 620 11.2901 Galns I11058e$l on Fixed A$8011 Tran$ler8 b8men fund$ 285 12851 Ngt mov8m•nt In funds 329 291 11,2901 Re¢on¢lllatlon ol funds- Tt)t*l fund$ brought fOard at 18t Aprll 2023 2,091 9.924 12,015 13.305 Total fund6 ¢3rrf8d forward at 31•1 Mar¢h 2024 2,420 10,215 12,635 12,015 24
Baxendale Care Home Annual Report & Accounts for Year Ending 315t March 2025 NOTES TO THE FINANCIAL STATEMENTS For year ending 31st March 2025 17. OBLIGATIONS UNDER LEASES Leases The company as lessor.. The company rents out its investment propÈty under a lease. Rental income forthe charity is disclosed in the Statement of Financial Activities. Contracted rental income derived under non-cancellable leases on investment property.. 2025 £ OOO'S 134 536 2024 £ OOO'S 134 536 134 804 Within one year In two to fiv8 year8 In over five years 670 25