Charir). ttgisty*ion number". I IW133 Rest Haven Annua] Rew>rt and Financial Statements for ihe Year Ended ) l Nf8￿h 2024 Thompsotk JenTher LLP Statutory Auditors 28 Al¢xandr8 Terrnce Exmouih Devon EX8 IBD Rest Haven Contents (eontinueil) Referen¢¢ and Administraiive D¢tails Trustee5' Report 2to5 Siatem¢n¢ of Trusi¢es' Responsibiliii¢s Independent Auditor5. Report 7t0 10 Statement of Financial ALtivities Balance Sheei Cash Flow Statement Notes io ihe Financial Sratemenrs 141024 Rest Haven Referenee and Administrntii'e Details C.h¥irm9D J D Eggle5ton Tru$tees B R O Candlirk J R Cliapple J D Egglesion NBHearn D O'Loughlin J A L Russell J A Treihewey Q JaLksoti, lappoiiiled 22 April 20241 Stnior Min¥g¢rnent I lJe*derAhip T Denn> .NlaiiatseT TeiTn Chirity Regi$trition Number 1190133 Principfil Office 15 CJu%sil<)rd l.ane EKmouih Di¥'i)n EX8 2SD Solicitor5 Everys Nla81101ill Flouse hurch SITe¢l Exmouth Devi)n EX8 IHW Bankers CAF 14aiik l.imitcd 2$ kinB% Ilill Avinue W¢si M811ing Kent IL194JQ Page I Rest Haven Trustees, Report Strurlur¥ Govern#n¢ib ¥n(l ￿l￿n￿g¢ment Gowerning Do¢urn*nt Resi Fl8vcn r¢gisi¢r¢d as a CIO with th¢ R¢gist¢r of Chariti¢s on the ?6th lune 2020. Previoiisly iiiider the 5am¢ anie Ihire had b¢ei) a Chtsril) r()r 4iim¢ 50 years All assets and liabili¢ies of Ih¢ ortginal Cliaritj were transferred to Ilie CIO on the I st April 20?3 when tradiiigi commenced. Appoiiitmenl of'i'ru5tee5 Th¢ Tnisr¢¢g are appoitiied bj the Iloard nf .1 rusices 4qiid iiiusi be appmved by resolution. 'I'he Trust Deed provides for noi less Ih&n livi and 11() more Ihan ¢ibhi I'rusiees. Structure xnd ￿lAn11%e￿tnt The TTusiees me¢1 ai l¢asi ¢v¢ry two months, bui individiially visit the ('are Home on a regular basis. The Trusiees deiemiine The policy and fiiiure direction of the Ilome and apwinis lis Manag¢r. The implL'inentalt(In of that policy aiid the Niaiiagement of the home 4Lre the resN)nsibility of the manager aiid her siaff. All Trustees ybve Ilieir iiine ajid sk-ills voluntarily aiid N)n¢ seek Aiiy reiiiiburseii)eni ol'expenses. liisk Assessmenl The 'frusiees have ci)Illinued assLss lh¢ major risks to which the CIO is exwsed ond to implemenl risk niaiiabierneiit Stroi¢¥i¢s. I'hLSL' iiiclude hiilemal ond e¥lLnial risk5 thai. if ocLurrirt¥, would be likely lo atf¢LI riiiunle ¢iiid re5uurL¢5, %iarrin¥ iiid vili¢r a$pe¢is of Ihe work i)r ¢he CIO The Irii%i¢¥s ar¢ snii51i¢d Ilia¢ prolediires aiid 5>Steiiis are iii plaie lo monitor and Lolltrol these risk5 to mi118ate any impuct that they may liav¢ 011 Ihi (.'IO iii lis fuiur¢ i)p¢raiion$, hj¢¢iivu 8DII #¢iivittr$ Rest I laveii is un inler-deiioniiiilllioiial Christian r()iiiidaliL)ii aiid o iiotj-profil niakiii¥ re¥i51L'red CIO. The PTÉiTridinK and rnaiiilaini118 a Clirisiian Iloii)c. Rest Illlveii 15 registered wilh tlie ('are ()ualily Coinmission io 8c¢ointnodal¢ .34 p¢opl¢. IA'e ha%'e referred In ilie ¥kiiiddnie ¢(Inloined in ihe Charily Ciimmi5sioner s General Guidance on Public Benefit when r¢%'i¢winb oui aim5 and ()bjecli*¢s and in planniii&i Oilr fiilure aLltvilies. Publlc hehe]li 'hen pldnning our aiiivili¢s for the year the trustee5 huve c0115iderLd the Comtjiission's yutd8nce on public arc workin8 hard to ensiirl that c￿L'ry infLrm OT a¥¢d indiviJual ha% th¢ ()ppiirtiinily lu b¢ ¥ar¢d for lo a hhgli standard in a safe wclconiing envimiimeni whatever their barkKround or bclief. In our projects and activities tlie ¢rustees have Complied wilh thcir duty in Section 4 of the 2011 Charities Act lo have due regard 10 guidaiice published bj Ilie Charity Commission. Page 2 Rest Haven Trustee5' Report (continued) Achievements and perfonnaThce As the teams of staff have fomied within their are&s of reSt￿￿ibl1lty. daily meditlgs have been introduced for all available staff to ensure the highest level of conimunic3¢ion. Issues regardiTh8 the home and residents are raised and resolutiL)ns foutld io ensure nmtters are deali ￿1th pron)ptli" and professionall). All are tn¥olved a￿1 contr2bule, alld a higb level of sm'tce ensues. Having seen the costs of irad¢smen in are&s such as pluTh]bin8 w]d carpenty rise exw)neniially posi COVID. the decision wa5 tnade to ernplo) a second mainienan¢e m¢mber of stsff. This enables u5 to conduct m05t maintenance in-house. offering more flexibilit) ￿1th cosl 5aN'ings offsetting the sthff wages having a filll coniplement of SLiff tnaintains a more consisieni level of ¢ar¢ and reduces the requirement for agency staff. Introduciion of a I'OIP sY￿¢M has removed leje￿ne line rental eosts and aliowrd calls via snternet and Tnobiles anjwhere. thus saving money with improved flexibility. Following an ineident where a resident walked oui of the home and collapsed in th¢ streeL a thorough review of ]1 access and egress potnts was conducted. new alarm5 were fitted wherr n￿. p￿11)¢015 it)ir()du¢ed and a thorough iraining programme for all staff conducted. Our pTogiamm¢ of room refirtlishrneni and lounge refillin£ continue5. along with thc endless rtqviremenis of mainlainijig agein8 buildings. Due to there being little rcspiie pwvision in the are& a room previouslv being used as a storeroom has been reintroduced ir1￿ use to provide respite care. This wll proTride a much-needed servi¢¢ wthin this area. and a[￿ther incorne 5trearn. Thwugh the hard work and profes5ion#li$m of the senior Manage￿ and administration department where inevi¢abiliiy residents p2ss aw?v. vacancies hal'e been filled prompilv. minimising finan¢ial loss of ¥'a¢an¢i¢s. This a150 eTr'idencts the go(MJ name Rest Haven has in the area as there is often a wwtin8 list for vacancies. coupled with ihe iniroduction of our moderni5ed professional web sile. Successful recntitiTttr has also included trwstees. which now number eighL allowing more sUp￿rt to the home. As usual. Resi Hav¢n is a plvdsllre to visiL finding a fitll home. full). Staffed. and withessing ihe pleihora of adivities now taking place. often with a cheery singalong going on. Pag¢ i Rest Haven Trustees, Report (continued) Fin*n¢i#l revst Total incoming resources for the period ivere £2,764,-16_3 12023 £Nill Ivhi¢h in¢ludes operaiing ineome of £1.660.904 artd Ir)nsfers in from ihe exisiing Chariry toialling £1.103.459 following the transfer of its assets and liabilities to the new CIO. Th¢ iniestmen15 M'hiLh make up the E.¥tTaordinary Repair Fund st(K>d at £31,31? (2023 £Nill. Investments are held wilh C QLA Investment Managejneiil Lid. The flnancial statements show an nverall SLirplus of £1,071.168 however this in¢lud¢s transfers in from the existing chaTlty ioialling £1, l 0.3.4.$9. e¥¢luding such tran5fer5 leave5 a net operating deficit of l£.12.291 I for the period. resulting in a d¢Lrtas¢ in fund balanc¢5 carried fonvard. The total c05t of ninning the Home continued to escalate at a rate liiglier t11￿7 inflation. priniaril). due to ijicreased expenditure panicularl). in tlie areas of staff, hous¢ke¢ptng. energy provisioii ajid repairs and n)aiiiteJiance. The Charity's freehold property was re-valllcd in 2018 011 an open market basis by Messts Nqeadows, Chart¢r¢d SurYeyor5 in Exrnouth and reappraised by the Tn15tee5 due to the doMTrturn uenerally in ihe propert)" market. Fixd As5etS ai]d their usage are shown in Note 12. of the financial 5tat¢nients. Reserves Policy Unrestricted reserves totalled £66,436 lexcludillg tangible fi.xed a55elsl at 3 1st March 2024 and this amount ¢oniinues io be restrained bv Ihe rapidly inLreasin¥ costs ot. providitjg ¢zre together ivith the need io constantly upgrade the IIKlure5 ai)d fitling5 14'lthiii Ilie Hoiiie. It is still our slated ini¢nlion io in¢r¢as¢ the ￿n￿stria¢d reserves io cover 3 months employmeni. management and adininistration costs. Howe*er no tinie expectatioji has been put in place and the achie%'emenl of thal aim mav lake many years. Page 4 Rest Haven Trustees, Report (continued) PIAn5 for future periods Barack Obania postulated 'Chartge will not come if we wait for som¢ oth¢r person, or if we wail for some other tini¢. W'e are ihe ones we've been wailing for. We are the cliaii8C that we seek., So. l(K)king ahead w'e are seeking to effeLI changes to plan effeclivelj for futiir¢ requirern¢nts. Havin￿ identified a tte¢d and l(>ialion for a respite rooni, the adininisiration departmejil will eiisure it 15 widely advertised to ensure high usage. Throllghoui 20?4-2075 fiindrdi5in8 15 planrhed to rai5¢ £100,000 for an extension to a lounge to allow bigger groups to gather for popular a¢iivities. Separate fundraising iwill take place to purchase a minibus for all the oft-slte activities we engage in. This will remov¢ the ¢(>sis ()f hiring Irdnsport and having to fil activities around the avoilability of said transport. A sumn)er launch party will be hosted at Rest Haven to start the process. Moving the adinini5trativn into the enlranr¢ hall. dtsubliThg up as a Teception desk, io create a more profe￿I￿nal and effective entrance is siill planTh¢d when funds are available. With the regular repeated repairs required r(> the lift, it is planned to ¢ondii¢¢ 8 full ov¢rhaul to allow a Irollble-free period for years to come. Thi5 is a cheaper option ihan replacement but save on repeated repairs and disiurbances. The rolling progrdmme to refLI the loun8e5 will continue. as will the refurbishmtnt of the bedrooms and Corridors. Having T¢plac¢d all the boilers in Rest Haven. it is now planned to replace the antiquated radiators. over 30 years old, with modern cool wall radiato￿. These will be more efficient saving on healing ¢harg¢s ond ensuring the boilers work optimally. Bui ihioughoui. our ¢i)re vallle remains: (o provide the besi, safest. and most appropriate care to those residing at Rest Haven. Ivithin the ¢xisliny financial r¢51raints. A5 always. the cxpecied oulcome is 10 work from our GOOD CQC rdting towards an OUTSTANDING Tatlllg. The annual report w&5 approved by the triistee5 of the charity on .... ..... ......... and siBned its behalf by.. J D Eggleston Chaim)an and irvstee PAge S Rest Haven Statement of Trus¢ees' Responsibilities The irus¢ees ar¢ r¢sponsible for pr¢paring th¢ irusiees. report and the fjnancial statem¢nls itk accordance ivith the United Kingdom Accounlin8 Standards IUThited Kinbydoffl Generally Accepted Accoiintints Practice) and applicable lakn and regulations. The la￿ applicable to charities requires the injstees to prepare financial statemet)ts for each financial Jear which give a true and fair wiew of tlie siaie of affairs oftlie cliariiy atid of (he it)coining resources and applicaiion of resources of the charity for that p¢riod. ID pr¢paTing tli¢se financial %lal¢iii¢nis. th¢ irust¢es are required Iv-. select suitabl¢ a¢¢ollnting pnlicies and rhen apply them consistentl}" observe ihe Ineihods 2Jid prtnciples in tlie Cliarilies SORP; mak'¢ judgements and estimates that are reasonable aiid prudent.. slai¢ Mheiher applicable accoutJtin8 Standards have been followed. subject to any tnalerial departures disc105ed and explaiiied in the finanLial siaiem¢nts', aiid pr¢paT¢ th¢ finaiiciii l s¢aiemenis on ihe going concem basis unless il is inappmpriate to presume that the charity will continue in bustne5S. The trustees are r¢5POn5ibl¢ for k¢¢ping prop¢T a¢¢ouniii)g r¢ioTds Ihai disclose with reasoiiable acLuraLJ at any time the fjnancial position of the charit). and enable thein lo ensure that the finaD¢ial statements ¢i)mply %viih the Charities Aci 2011. th¢ Charities (Accollnls and Reports} Re8ulations ?008. and the PTOTriSiOllS of the constiliition. Th¢ tTUSt¢es are also respx)iisible for safeguarding ihe assets of th¢ charity and hence for taking reasonable steps for the Pre￿ention and detection of fraud and other irregularities. Tlie trustees are respoJ15ible for Ilie Inaintenance and integrity of the corporate and financiol infomaiion included on the Charitable Lompany's M'¢bsi¢¢. Legislation goveming the preparation and dissemination of rinan¢ial stot¢menis may difyer from legislation in other jurisdictions. Approved by the tru5te¢s of tli¢ charity on .?*. and signd un ils behalf by.. J D Lggleston Chaimian and irnste¢ Pagc 6 Rost Haven ndependent Auditor's Report fo the Members of Rest Haien Opinion W¢ haTr¢ audited the fiThancial statements of Re# Haven Ithe'¢hariry'l for the year ended 31 March ?0?4, which omprise the StaiemenÈ of Financial Activities. Balance Sheet, Cash Flow Statemen¢. and No¢es io the Financial Statements. including a summary of significant accounting wlicies. The financi￿ reporting fraJneM'ork" thai has been applied in ih¢ir prepardtion is United Kingdom Accountin¥ Standards. ¢umprising Charities SORP - FRS 10? 'The Financial R¢porting St¥ndard applieable in the UK and Republic of Ireland, and applicable law (Uniied kingdom Generall￿ Accepled Accounlin8 PrdCtic¢l. In our opinion the financial ststements.. give a inle and fair view of the state of the charity's alTairs as ai J l March 2094 and of its incomiTh8 resources and appli¢aiion of resources, including its income and expendilure. for the year lh￿ ended,. have been properly prepared in accordance with United Kingdom Generally A¢cwed A¢¢ouniing Pwtice: have been prepared in accordance with the requirements of the Chariiies Au 2011. Ba$is for t)pit)io We condii¢ied our audil in a¢wrdance International Standards ort Auditing IUKI IISAS IUKII and appli¢able law. Our responsibilitits under those standard5 are further described in th¢ auditor restK)nsibililies for the audit (?f the finan¢tal slatements section of our report. We are independenl of the ¢haritv in a¢¢ordanc¢ the ethical requirements that ￿ relevant to our audil of the fithancial sts￿Ments in the UK. includin8 the FRC'S Eihical Standard, and ive have fulfilled our other eihical r¢S￿￿nSibIlItieS in a¢¢ordan¢e with ihese requirements. 'e belieye that the audit eviden¢e have obtained is suffieieni and appropriate to Provide a basis for our opinion. Conelusion5 relating to going concern In auditing the financial statements. w'e have eoncluded that the trusiee5 LLse of the going ¢on¢ern basis of a¢counting in the preparation of the financial stsienients is appwpriaie. Based on the work we ha￿e perforned, we have not identifid anj material unc¢rtaTrmies relating to events or coTrdilions that. indi￿ldUallY or ¢olle¢ii%'el%, mav cast signiflcant doubr on the charit) s ability to continue as a going con¢em for a period of ￿ le￿1 ttvelve ￿K)nthS frorn ythen the on￿nal finan¢ial so*ments w¢re authorised for issue. Our r¢sNJnsibilities and th¢ r¢stK)nsibilities of ihe trusttts with re5p¢d to going ¢oD¢¢rn are described in the televant sections of this rewrt. Other infom￿¢10￿ Th¢ irustee5 are responsible for the oiher inf¢)nnaiion. The other infornialion ¢umprises the inforniathon ijicluded in the annual report. other than the financial stsiements and our audiior s repirt thereon. Our opinion on the financial statements does not co￿.¢[ the other inforn)aiiorÈ and. excepl to the exteni oihenvise explieirly 51ated in our report. we do not express any fonn of assurance conclu5ii)n thereon. ITh connection ￿1th our audit of the financial statements, our resEx)nsibility is u) read the other infomalion and. in doing so. consider ivh¢iher lh¢ oiher infornation is maicriallv in¢onsistent wtth ihe finan¢i31 siaiements or our knowledge obtaiThed in the audii or oihetmise appears io be materiall). missthted. If we identify Such rnaterial ithconsisi¢ncies or appareni malerial Miss￿eMents. we required to delernTrine whether there 15 a rnaterial mi5Statem¢ni in th¢ financial St￿eMentS or a rnaierial missthiemeni of the other infomioiion. If. based on the work we have performed. we Conclude there is a material misstai¢meni of thi5 other infonnaiion. we are required io rerx)rt that fad. W¢ have nothing to report in this r¢gaTd. Page 7 Rest Haven Independent Auditor's Report to the Members of Rest Haven (continued) Matlers on ￿h1¢h we are required to report b). exception lji the light of our knowledge aiid under51andinu of ih¢ cliaril). and ils eiivironment obtained in the course of the aiidit. we ha￿t not identified material missiaiemenis in the Trusie¢s' Report. We have nothing to report in respect of the followii)g mallers where ihe Chariiies (Accounts And Report) Regulations 2008 requires US to report tL) you if. iii oiir opiiiioji.. adequate a¢coiinlin¥ rerords have not betn kept. or retiims adequate for oiir audit have not been received from branches not VlSlted by us. or Ihe finan¥ial sts¢emeDiS are no¢ in a¥re¢meni thiih tlie n¢ern basis of aLrvuiiting uiil¢s5 the trust¢e5 ¢iih¢r inleiid io liquidate the charity or to c¢a5¢ operation5. or have iio realistic alternative but lo do 50. Auditor Re5POIISLbilitie5 for the udit of the financial statements Our objectives are ro obtain reasonable a5siirance about whcihcr the financial stst¢m¢nts as a whole are free from mJt¢rial missiaiemeni. whe¢her du¢ ¢0 fraud i)r etror, and to issu¢ an auditOT s report that includes our opinioii. R¢a50nable assurance 15 a high lel'el of assuranLe. but is not a guarnnteL that an audii conduit¢d in accorddllLe with 15As (Uk) Ivill alivays deieei a mal¢rial misstat¢meiii when it exists. Mi5Stat¢ineiits cali ari5¢ fmm fraud c)r erri?i aiid are ¢aI151dered m3terial if. individually or in the agoregale. they could reasoiiably be ¢Np¢Lt¢d ti) iiiflueiic¢ the economic decision5 of 115eTS iaken on the basis of rlicse financial siaieineiils. Irregularities, including fraud. are iJ151ances of noii-complianie with laws and regulaliong. We desigii pmiedur¢s in line ivith our responsibilities, ouiliiiLd above, to detect maierial missiaiemciits in respect of I￿esUlarl1ies. including fraud. The extenr io wliich our procedures are Lapable of detecting irregularities. including fraud is detailed beloiv. Th¢ ext¢ni to whith the audit was considered capable of detecting irregul4rities iNrluding fraud Our appTnach lo identitying and assesSII18 the risks of maierial m1551atetneiit in r¢5pecl of irregularities. iocliiding Iraud aiid non-compliance with laivs aiid regulaiiiitts. was a5 follow5.. the en8ab>emeni partn¢r ¢n5ured thit tlie engagement teani collectively had the #ppropriale competence, eapabilities and ski115 to tdtnttfy, or recognise non-compliance with applicable laws rekTiilalions'. we identified ihc laws and regulations applirabl¢ to the charity through discussions with dii¢¢iors and otlier management. and from oiir Lvmmercial kiiowledge ￿ld experience of the se¢tOT- w¢ foc115ed Dn specific laws and regulations which we considered niay hav¢ a dire¢1 material effect on the financial staiemei)ts or the operations of the charity, inlluding the Charities Act ?01 l. laxaiion legislaii(>n. daia protection. anti-bribery, empltsyment. environmental. fire salety and health and safety. Page Rest Haven Independent Auditor's Report to the Members of Rest Hai'en (continued) we assessed the exteni of wDplian¢e with the laws and regulaiions identified aEove throu8h making enquiries of mana8emeTht. reviewing liccn5es. certifiates and relevani ¢offeS￿nd¢nCe including th¢ inspection of legal COTre5w)ndence". and identified laws and regulaiions Mere commwii¢a*d within the audit team regularly and the team remained alen io instance5 of ￿)I￿Or￿PIlanCC througlK*uI the audii. We assessed the suscepiibility. of the charity s financial S￿￿Trents to material Miss￿emen[ in¢l￿dIng obtsining understsnding of ho%¥ fraud might occur. by-. making enquirt¢s of management as to where they considered there was suscepiibility io fraud. their knowledge of aciual. su$￿¢ted and alleged fraud.. and ¢Oll5iderinB the intemal wntrols in place io mitigate risks of fraud aTwJ non-cornpliance with laws and r¢gul*ions. To address the risk of fraud through managem¢ni bias and override of eontrols, we.. perforni¢d analytical pro¢edur¢s to ideniify any unusual or unexpected reiaiionships- tesied journal eniries to ideniifv Un￿$￿al transactions: asse55ed whether judgements and assumpttons made in de*nnining the accounting estimates were indicaiive of ￿le￿lia[ bias- and invesiigai¢d the ratiotwie behind significant or unusual Irdll5adii)n$. ln response to the risk of irwulariiies and non-complian¢¢ with laws and regulation& we designed procedures whirh irtcluded. but were not limited to.. agreeirhg financial sthtement disclosures lo underlying supporting &xumenwion- r¢ading the minutes of meetings of those charged ￿lth goveman¢e: enquiring of rnanagemeni as to aciual •)d wTrt¢nLial litigation and claims- and reviewiftg correspond¢n¢¢ with HMRC. rel¢vant regulators and the charity's Icgpal advisors. There are inhtrtnt liThiiaiions in our audii pYo¢edures des¢ribed aiKJve. The ￿K)re rernoved that laws #nd re¥ulations are from finan¢ial tyonsaciions. the less likel) it is that we would become awaie of non•¢omplianLe. Audiiing standards also litnit the audit procedures requir¢d io ideniify. Mn-complianct with laws and regulations to enquiry of the dirtr￿lS and other management athd the inspection of regulator). and legal ¢orreswndenee, if ally. Material misstaternents that aris¢ dlle ￿ fraud can be harder to d¢t¢d than those that ariv frorn error as they may involv¢ deliberate concealrnent or collusion. A furthei descripiion of our tesw>Thsibililies is available on the Financial Rew)rt1Th8 Council's website at.. www.frc.or8.U￿audIlorsreS￿￿sib1IItie$. This description fi)nns part of auditor s r¢rMTrn. Pag¢ 9 Rest Have Independent Auditor's Report to the Members uf Rest Havett (continued) I15e of our report This T¢PVrt is mad¢ solely 11) ih¢ Charity Irustees, as a bodj. in a¥i()rddnc¢ with seltion 144 ofthe Charities Ait 201 l and regiilalions made linder 5¢clioii 154 of that Act. Oiir audit woi'k has been undertaken so that we Jnight 51ale to the Irustees thosc matters we are required to stale to trustees in an auditors, report and for no Diher purpose. To ihe fiillesi exieni pemiilled by law, we do n()1 accepi or asqume resp()nsibility 10 an)'(>iie oiher ihan the charity llnd il5 triistecs 85 a body. for oiir audit work, for thi5 report. or for the opinion5 we h8ve fL)rined. LLP Mr Duvi(l Tucker (Senioi Stdlutory Aiiditorl For and oil behlllf of Thompsoii JeiiiicT LLP, Stalulory Auditor 28 Al¢xaiidra Terrace Exinouili EX8 1 BII Dale.. Poge 10 Rest Haven Statement of Financial Actii'ilies for the Year Ended 31 March 2024 UDrestricted funds Restrirted funds Totgl 2024 IDcome and Endo*m¢nts from: Ik)naiions attd legacies Charitable activitie5 1,092.837 .650.4?2 1.696 19.349 1.112.186 1.650.422 1.755 Investment inctsme 59 Total income 744.955 19.408 2.764,i6i Expendilurn on". Charitable activities Govemance aciiviiies 11.647,8041 144.4671 13.9581 11.651,762) 144.4671 Total expendiiure Gain& losses on investment &55ets 11.692271} 3.0.14 (3.9581 (1,696,729} 3.034 13 Net income 1.055.718 15,450 1,071.108 Net moveinent in funds ,055,718 15.450 1.071.168 Recon¢iliation gf futtds Toial fvnd5 Carri￿ (on¥ard 19 1.055.718 15.450 ,071.168 The CIO had no transactions in prior period. Th¢ t￿¢S on pa8es 14 to 24 foTrn an iniegrnl part of these financial S￿¢￿¢0￿. Pag¢ll Rest Haven {Registration number: 1190133) Balance Sheet as at 31 MarLh 2024 2024 2023 Note Fistd #15et$ Taiigible asset5 Investinents 12 13 1,004,732 31.312 1,036.044 C.urTeNt assets D¢btor5 Cash ai bank and in h2nd 14 15 74.686 101,444 176.130 1141.0061 Creditor5'. Amounts falling due within one year 16 Net current Assets 35.1?4 Net a55ets 1.071.168 Funds of the charity: Restricted iN£ome fund5 Restricted funds 15.450 Unre$tri¢t¢d income funds Unrestricted funds 1,055.718 Total funds 19 1.071.168 anci81 statements on pages I I to 24 were approved by the twst¢es. and auihorised for issve on -.L4-.. and signed on ¢heir behalf by.. J D Eggleston Ch3imiax wid Inis¢ee J A L Russ¢ll Trustee The notes on p8ges 14 10 24 form an integrdl part of these financial staiements. Rest Haven Cash Flow Statement for the Year Ended 31 March 2024 21124 ote Casb Ilows from operatlDg aclivilie5 Net cash inrom¢ 1.071.168 Adjustments to ￿5h flows froDJ non¥tash items Trdnsftrs itl from existing charity Tangibl¢ A￿ts Transfers in from exisiing ¢harity Investhients Depwi8tioTh Investment itKome Revaluation of investments Loss on disposal of fixed assets held for the ¢hariry's own use (1.001.880) {16.?781 20.979 11,7551 13.0341 267 13 12 13 69.467 IlorkiDg capital adjustments In¢re&se in debtor5 Increase in Creditors 14 16 (74.6861 141,006 Net cash flows frorn operntin8 activities Cash flows from in1.￿tIng attil'ities Interest Teceivable and szmilar inLome Purchase of tangible fixed assets Purchase of invesunents 135.787 1,755 1)4.0981 {12,(H)01 12 13 Net ¢ash flows from inve5tlli8 activities 134.34il Net increase in cash and equIT￿ents 101,444 C&sh and c&8h equivalents ai l April Cash and e&sh equivalents ai 31 March 101.444 All of the cash flows are derived from c(KLtinuing opemions during th¢ alM)ve Iwo periods. The notes on pages 14 10 24 lonn an iniegrnl part of these financial 5tateTnents. Pag¢ 13 Rest Haven Note5 to the FinanLi#I.St#tements for the Year Ended 31 March 2024 l Accounting policie5 Statement of compliance The financial stat¢rn¢nts have been prepared in accoTdance with the second edition of the Charities Statement of Recommended PraciiLe issued in Octi)ber 2019. the Finan¢ial R¢pc)tling standard appliLable in the Ilnited Kingdom and Republi¢ ol. Ireland IFRS 1021 and the Charities Act 2011. Ba$is of preparation Resi Haven meets Ilie delitiiiion ot. a public beijefii eiility uiider FRS I O? Th¢ a¢¢ounis Ifinanlial siatemenisl have b¢en PT¢pared und¢r lh¢ historical c051 coiiv¢nlion ivith itenis recogni5¢d at cost or transaction value uiile5S otherw'ise slated in th¢ relevani nolLYsl lo these 8ccoiints. Going concern The irusiees consider that there are Jio material uncertainties ob(>ut the ¢har2ty's ability to ¢on(Ènue as a goiog ¢on¢ern. Income And endo*ments Voluntary incomc includin8 donations. gifts, legacies and grants that provide core funding or or¢ of a general nature is recognised when the charity has eiiliilemeni to the income, il is probable that rhe income will be received and the #mouiit can be m¢a5uied wilh sufficient reliability.. Donulions leRacie5 Don)iioiis and l¢ga¢i¢s are recognised on a receivable basis when receipt is probable and the amount can be reliabl), Theasured. Gr4ttf.f receivohle Grants are recognised wh¢n Ihe ¢hariiy has an entitlement to the fI￿(￿S and an). conditions linked to the grdnfs have beeii met. Where p¢rfortnanc¢ coiiditioiis are attached io the grant and ore yet io be met, the inLtsme is recoonised as a liabilit) ￿ld included ot) the balance sh¢¢i as d¢l¢tred inLome to be r¢lea5¢d. Jnveslmeni income Divid¢ttds ar¢ r¢¢ugJiised once the dividend has been declared aThd llotifjcalion has be¢n received of the dividend due. Expenditure All expenditure is reco8nised once there is a legal or ¢onstru¢tive obligation to that expenditure, li is probahle stitlement is required and the amoiinl ran be measiired reliablj. All costs are allocaied to the upplicable ¢xp¢ndilure headin8 Ihal aggregate similar ¢i)sts to that rat¢gory. Ivliere cosis eannoi be directly aiiribut¢d t particular headings the). have beeii allo¢ai¢d on a ba515 COtiS1srent with the us¢ ol. r¢soiirL¢5. Wlth c¢ntial Staff cosis allocated the ba8is of time Spent. aiid depreciaiion charges a110¢3ted on ihe portion of the asset's use. Other support cost5 #r¢ allocated based on the spread of staff costs. Chariluble aclivilie.f Charitable expenditure comprises those costs inCu￿d by the charity ili ihe delivery of it$ ictTVltie5 and 5eTViCeS for its beijefieiaries. It iticludes boili Lvsis thai can be allocared dire¢ily io such activities and those costs of an indirect nature Jiecessory tLTr SUPPOrt them. Page 14 Rest Haven Notes to the Finan¢i*l Statement5 for the Yegr Ended 31 March 2024 {continued) Gowerngnce costs Th¢s¢ it)clude the costs attributable ttTr the charity's ¢ompli8n¢e constilulional and s￿ll¢or) requirements, including audiL Sitaiegi¢ ma￿￿eMenT and trusie¢s meeiines and reimbursed expenses. Government grants Govenimeiit gran15 are recognis¢d based oth the ¥¢nthl model and are me&sured at the fair value of the &sset r¢ceived or receivable. GrdThts are classified as relatin(p either lo revthue or ¢0 assets. Graois relaiing io rev¢nu¢ r¢ re¢oxnised in income over ihe period in which ihe relared costs art recognised. The charity is wnsidered to p&ss the tests set out in Paragraph I S¢hedul¢ 6 of ihe Finance Act 2010 and therefore it meets th¢ definition of a ¢harithbl¢ ¢ompan%, for L1K corw>rdrion purposes. Accordingl)., the charity is p)teniially exempt from t&xation in respect of income or capithl gains received wi¢hin ¢ategories covered by Chapter 3 Part I l of the Corp)rdtion T&¥ Art 2010 or Seciion ?56 of the Taxation of Chargeable Gains Act 1992. 10 lh¢ ¢xt¢nr rhai such income or gains are applied eK¢lusively to ¢haritsble purposes. Tangible fixed i55ets Individual fExed asset5 COSiiÈ)g £l.¢JOO.IM> or more are initiall). recorded at cosL less any subsequent accumulated depreciation and subsequent accurnulaled irnpairnent lo55es. Land and buildin8s were previously included in the at a ffvalued amowii. However. upon transition to FRS102 the charity. elecied ￿ use this valuatkon &5 deemed cost. Depreciation and amortisation Depreciation i5 provided on tangible fixed ass¢ts $0 &$ to WTite off the c05t or valuation. less an). ¢stimat¢d sidual value. over their expected useful ewnornir life as follows.. Asset cla55 Furnilure and equipment Land ikprtti•iion method and rate ?OOo reducin8 balanee Not depre¢i*ed Noi d¢pr¢ciaied as any provision wx)uld be wholl). immaterial due 10 their long economic life and high residual value Freehold buildings Fixed 4$$¢t investments Fix¢d asset in%estments. other than pwgramme telated inveslrnetts. are included ai rnat*et value at the balan¢e sh¢et date. R¢alis¢d gains and losse5 on inve5tm¢nts or¢ ¢alculated as the difference beiween sales proceeds and their marke¢ value at th¢ start of the year. or their subsequent ¢OSL and are charged or credited to the Sthtement of Financial Activitie5 in the period of distx)sal. Unrealised gains and Itssses represent the nMJvernent in maTkd values during the year and are credited or ¢harged to the Statemeni of Financial Activities based on th¢ mwl'ei %a]ue ai the )'ear end. Pase 15 Rest Haven Notes ¢0 the Financial Statements for the Year Endeil 31 March 2024 (continued) Trade debtor Trade d¢bti)rs are amounts due from Custome￿ for merchandise sold or services perfonned in the ordinary course of bu5jlleSS. Trade debtor8 are re¢ognis¢d iniiially at the transaction price. The). are subsequentl), measured at amonised Cosi usino the effeLlive inler¢s1 rnethod, les5 provisioii for impairTh¢ni. .4 Provision for the impairment of trade debtors is esiablished when there is objective evidence that the cliarity will iioi be able io colleci all amounts due accordiiib lo the oriLiinal ienns of ihe receivables. Cash and cg$h equiiiltnt$ Cash aiid ca%h ¢quiTral¢nlS ¢nmprise ¢a5h on hand and call deposits. and other short-temi highly liquid inYe5ttnents that are readily coni'ertible to a known amoiint of cash and are subject lo an iiisigniticani risk of change in value. Trade creditor5 Trade credii()rs ar¢ obligaiitsns 10 pay lor ¥oods tsr 5ervice5 Iliai have beeii aiquircd in the ordinary course of business frotn siippliers. Accounts payable are classifLed as eurrent liabilities if th¢ do¢s not have an un¢onditional right, ai ihe ¢nd of the repthrting peTiod. to defer settlejllent of the creditor for at least twelv¢ moiiths after the reportino date. If there is an uncondilional right to defer settlement for at least twelve monihs after ihe reporting dale, they are presenied as non-curreni liabilities. Trade credttors are recogjiised iiiilially at die tr2Jisaction price and subsequenily measured At afflortised ¢05t using Ilie etTeciive ittieresi nieihod Borrowings Inter¢st-bearing borrowings are initially recorded at fair value, net nf transa¢tion ¢Dsts. Intertst-b¢aring borrowit)gs are siibsequentlv Carried al amortised ¢osi. with the difterence between the proceeds. net of transaciion ¢(>s¢s, and th¢ aniouiil diie oli rtdeinption being reco8nised as a chorge ¢0 the Siaiemeni of Fiiiancial Activities oveT Ilie period of Ilie relev￿11 borr0￿1ng. Interest expense is reco8iiised on the basts of ihe effective 5Nte￿$t rnethod and 15 included in interest payable and stmilar Charges Borrowing5 aTe classified as current liabilities unless ihe charity has an unconditional right to defer s¢ttl¢m¢ni of the liability for at least ￿e1ve months a(ter Ihe iep()rtiiig date. Fund structure Uiirestricted incoine funds are gen¢Tal fvnd% that are avarlabl¢ for use at the tnistees discretion in ￿nheI?A¢¢ of the objectives of Ihe chariry. R¢slriLted iiiLome funds are Ihose donaied lor use in a particular area or for specifjc purposes, the use of which LS restricted lo that area or purpose. FinAn¢i#l instrumeDt5 Th¢ ¢harily onlj has fiiiaIictal assets and finan¢ial ITabililies of a kind that qualify 3s basic financial instruments. Basic financial insinimeni$ 4t¢ Initially r¢cognised al transaciion valu¢ and 5ub5¢quently measured ai their settlemei)t value with the exception nf the accuniulaiion shares held in th¢ Charitie5 Investment Fund which are mcasured at fair value thTI)ugh ihe statement of flnancial aLtivites. Page 16 Rest Have Notes to ihe Financial Statements for tbe l'ear Ended 31 March 2024 {contillued) 2 Income from dott*iioths and leg*ti¢s UnreMri¢ted funds Generxl Re51ritted funds Total 2024 tk)nation5 and Icgaci¢s.' IA)nations from Companies, tn￿ts and similar proceeds Iknation5 from individuals 1.099.837 10.6?2 .727 1.103.459 8,727 1.09?.837 19,349 3 Income from ¢h•rit•bl¢ •¢tivitie5 Llnrestritted fund5 Gtntrnl Restrieted Tot41 21124 Fees 1.650.4?? 1,050.4?2 4 InTre5tment ineomt LT•rtstri¢t¢d funds Gentr*l Restricted funds Tot*1 fund5 Interest ffceivable 2nd simrlar income: Inrerest Teceivable on Imnk dep)sits 1.696 59 .755 Tot•1 for period ended 31 ￿l￿r¢b 2024 1.696 49 1.7.55 Page 17 Rest Havell Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 5 Expenditure on chgritable Activities Ilnre$tri¢ted fund5 Gtntral Restricted Total 2024 Staff Costs Sraff Trnining Staff Unifonns Staff Recruitment costs Agency Costs Food Housekeeping Cleaning Residenl Activities 1 ?31.190 6,7.3.6 2.927 4.457 23.08.3 84,664 S.434 10.468 7,197 17.33? 109.313 16,0.16 12,466 1.231,190 6,733 2,9?7 4.457 2.1,OX3 84,664 5.434 10,468 7,197 17,332 110,351 16,036 12.466 Laundry Repair and Nlainlellanc¢ Equipment Hire Waste Telephone Prof¢55ional Fees CouncÈl Tax En¢rgy Il'aler Rates Insurance Travel Bank Charges Pnnliiig. Ptsgtage, Stationery Compiiter & IT Depre¢iatJ()n L05s of disposal of fix¢d osseis RegistTation Costs 1,042 2.?13 40.07? 16,478 7,660 1.1.3 9? 1,445 16,619 18.063 267 4.060 2,?13 40.072 16,478 7,660 1,445 16,619 20.979 2.916 4.060 1.647,804 .3.958 1,651,761 Page 18 Rest Have Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Analysis of 8overn*nee Ind support ttssts Governince eojts [Inrestri¢ted funds en¢r*l Tol&l funds SthtTcos Wages and salaries Audii fees Audit olthe fiJwi¢ial $iaiemen Oih¢T fees paid lo auditors 30.498 30.498 4.-320 9.649 9.049 Tot•1 for ptriod ¢nd¢d 31 ￿lAtCh 2024 44.467 44.467 7 Net incorninWout¥oin% resourtts Ntt incominwoulgoing resour¢es for the yeor I￿lUde.. 2024 Audii ftts Other non-audii ser¥i¢es iA)$5 on di5p)sal of fi¥ed assets held for the charity's use Deprtci#tion orrixed assets 4.320 9.649 267 20.979 Trustees re¢nuner•tion •nd ¢xp¢nxJ No trustees. nor ￿Tson5 connected with thern. have rtteived any remuneNion from the ¢h¥rity durin8 the period. No trnst¢es have received any reimbutsed experws or any other benefits from the charbty during the period. 9 StAff coslj The ag¥r¢¥ai¢ payroll ¢0sts &% follows.. 2024 Statf costs during ¢h¢ ytar wert: 'ag¢s ajid salaries Social security ¢OSts Pension costs her staff costs .116.624 88.208 56.856 37.200 1.298,888 Page 19 Rest Haven Notes to the FiD#n¢i#l Statements for the Year Ended 31 March 2024 (continued) Siaff Losls for 8overnance actLNilie5 repr¢5¢n15 aclivily levels ()[ 50 o1202A Nil) ()f ihe ¢osl ofemploying the Admini%¢rators. All oil)er staft. apart Irom Inaitiieiiance staff are considered to be directly or indirectly employed to care of the residents. The motJ¢lily average number of persoiis lijicluditlg senior nianagiement I leadership ieAml employed by ihe ¢liaril)' duriiig ihe year ¢xpressed as full iijiie eqUi￿alentS was as follows.. 2024 No Pr(>vision of Ca Administrntioi) Maitiieiiaiic¢ 47 No employee r¢¢eived emoluments of more than £60,000 during the yeor Tlie li)¢al emplvyce bejiefils ()l-the key niaiia8emeni personnel ofthe cliari¢y were £59.3091202.1- £Nill. 10 Auditors, rtmunerlltion 2024 Audit ut'ihe finanLiRI slalements Other fets l¢J gu(litors 9.649 11 I'Axfilion Th¢ charity is a re&iisiered charity and is therefore exempi Irom taxaiioii. Poge 20 Rest Have Notes to the Financial Statements for the Yegr Ended 31 March 2024 {continued) 12 Tangible fixed *ssets Land and building$ FurnIt￿re and equipment Totsl Cost At l April 2023 Tran5feTS Additions "SPKJsals 2?0,558 9.879 18.??11 .125.906 24,098 18,2?31 Ai 31 March 2024 919,567 ??2.214 Depre¢i•tion At l April 2023 TratL5fers Charge for the year Eliminated on disposals 124,026 ?0.979 17.9561 124,026 20.979 17,9561 At 31 N4arch 2024 l i7.049 1.17.049 Net book v4lue At 31 March 2024 919.567 85.165 1.004,732 At 31 Nlarch 2023 Transfers of Land and Building5 totalling £W5,348 aJ)d Furniiur¢ and Equipment totalling £96.532 represents the assets transferred ftom the exisiing ¢hariTh ai their net IKxik value on 01 April 2021 with the re&isirdtion of the new CIO. Pagc21 Rest Haven Notes to the Financial Statements for the Year Ended 31 March 2024 (continued} 13 Fixed Asset investments Other iNvestment$ Listed investments Total C05t or ￿.￿luatIOn At l April 2023 Tran5fer5 16.?78 3.034 12.000 16.278 3.034 12.000 Revaluaiion Additions At 31 March 2024 31.312 31.-312 Net knok value Ai 31 March 2024 Ai 31 March 202.3 Transfers tota]ling £16,278 represent5 the investtnents traijsferred from the existing ¢hari(y ai ih¢ir fair valiie o 01 April 2023 with the registration of the iiew CIO. The inN'estments. held in the UK. are all aceumulati(Trn shares in ihe Chariiies Ini'estment Fund. 14 D¢btor$ 2024 Trade debtor5 46.286 10.598 17.80? Prepayments Other debtors 74.686 14 I'a5h and cash equivalenls 2024 Cash al baiik Other c&%h and ¢ash equivalents 99.4i8 2.006 101.444 Page 22 Rest Have Notes to the Financial Statements for the Year Ended 31 March 2024 {continued) 16 Creditors: *mount5 falling due withiD Ont vear 2024 Trhde creditors Other creditors Accruals 15,782 55.960 141,006 17 Obligation5 under Itases and hire pllrch￿ ¢ontr*c Operiting legse tornmitrnents Total future minimum lease payments under Tbmvcan¢ellabl¢ opernit)g leases ar¢ as follows: 2024 Othtr Within one year Bttween one and five years After five years 19.619 74.346 14,4.31 108,i96 18 P¢nsioD IIDd othtr schemes Defined contribution pension schen The charity operates a defined coniributton pension scheme. The pension cost Charge for the year represents ¢on¢ributions payable by the charity 10 the scheme and amounied ￿ ££6.85612023- £Nill. Contributions totslling £5.93912023- £Nili were payable to the ￿herne ￿ the end of th¢ yezr and are includ in creditors. Rest Haven Notes ¢0 the Financial .¢itatements for the Year Ende(131 March 2024 {coJ)tinued) 19 Funds Other rerognised gain$lllfi$sesl Bglante gt 31 f*i#Tch 2024 BalAnce gt I April 2023 Incoming resoiirtes Resources eip¢nded Unrestricted funds General 2.744.955 11.692,?711 3.034 1.055.718 Restricted fund5 19,408 13,958} Tot¥1 funits 2,764.-363 11.696.??91 3.034 1.071.168 20 Analys15 of net assets between funds Ilnr¢stri¢ted funds Genergl Total lund8 at 31 ￿l￿rth 2024 Restricted funds Tangible fjxed asseis Fixed asset investtnents Current assets Cutreni liabilities 989,282 -31.312 176.130 1141.0061 15.450 1,004.732 176.130 1141,0061 Total nel assets 1.055.718 15.450 1,071,168 21 An#lysi$ of net funds Al l April 2023 Financing ¢9sh flow5 At31 March 2024 Cash at baiik and in hand 101,444 101.444 Nei debt 101,444 101.444 22 Related PaTtv transactions A5 at 01 April ?0?3 the asseis and liabilitie5 of rhe Previous unincorporated charity. Resi Flaven, w¢r¢ tra[l5ferr￿ to the new CIO lolalling £1.103.459. Thi5 ha5 been reflected a$ a donaiion received per Note 2. Page 24