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Terry's Day Care Limited
Legal and administrative information
Trustees Mrs R T De Lorenzo Mr S McGee Mrs T M Jeffery Charity number 1199604 Company number 13554558 Registered office Ground Floor Madgwick Lane Westhampnett Chichester England PO18 0FB Independent examiner DJH Mitten Clarke Chester Limited Chester House Lloyd Drive Cheshire Oaks Business Park Ellesmere Port Cheshire CH65 9HQ
Terry's Day Care Limited
Contents
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 15 |
Terry's Day Care Limited
Trustees report (including directors' report)
For the year ended 30 December 2023
The Trustees present their annual report and financial statements for the year ended 30 December 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
The charity's objectives are to provide relief of elderly persons from experiencing social isolation or who may be affected by chronic disease and life limiting illnesses by providing a day care facility to offer support, information and respite care for such persons and their families and carers.
The Trustees have paid due regard to guidance issued by the Charity Commission on public benefit.
Achievements and performance
The charity was established with a legacy of £200,000 from Terence (Terry) John Senn, to provide a facility for elderly people to socialise and receive respite care on a non residential basis. A further £50,000 has been received in the year to December 2023. The legacy enabled the charity to secure the lease of a property to operate from, invest in initial equipment and cover the required salary costs to ensure beneficiaries received the care they needed from the outset.
The charity has a number of private individuals who contributed a total of £51,637 (2022 - £1,673) towards their respite care on a subsidised basis.
Gifts, grants and fundraising yielded a further £74,319 (2022 - £16,447).
Financial review
Unrestricted income recognised in the year was £125,956 and with restricted grant income being £17,847, total charitable income was £143,803. Revenue expenditure was £158,726 (unrestricted) and £15,969 (restricted) leaving a deficit for the year of £32,770 on unrestricted funds and a surplus of £1,878 on restricted funds.
Total funds at the year end were £79,181. Excluding fixed assets of £12,992 and restricted funds of £6,379, the free reserves of the charity at the year end were £59,810.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
The Trust is a registered charity, number 1199604 and a company limited by guarantee number 13554558, governed under the Articles of Association/Governing document dated 27 January 2022 as amended on 5 July 2022.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mrs R T De Lorenzo Mr S McGee Mrs T M Jeffery
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Terry's Day Care Limited
Trustees report (including directors' report) (continued) For the year ended 30 December 2023
New trustees are appointed by existing trustees following a recruitment process to ensure a varied skillset is maintained by the board at all times. None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The Trustees report was approved by the Board of Trustees.
.............................. Mr S McGee Trustee 02/07/2024 Date: .............................................
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Terry's Day Care Limited
Independent examiner's report
To the Trustees of Terry's Day Care Limited
I report to the Trustees on my examination of the financial statements of Terry's Day Care Limited (the charity) for the year ended 30 December 2023.
Responsibilities and basis of report
As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Mrs D D Lea
Chester House Lloyd Drive Cheshire Oaks Business Park Ellesmere Port Cheshire CH65 9HQ
Dated: .........................
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Terry's Day Care Limited
Statement of financial activities including income and expenditure account For the year ended 30 December 2023
| Unrestricted Restricted funds funds 2023 2023 Notes £ £ Income from: Donations and legacies 3 69,308 17,847 Charitable activities 4 51,638 - Other trading activities 5 - - Rental income 5,010 - Total income 125,956 17,847 Expenditure on: Raising funds 6 14,960 - Charitable activities 7 143,766 15,969 Total expenditure 158,726 15,969 Net (expenditure)/ income for the year/ Net movement in funds (32,770) 1,878 Fund balances at 31 December 2022 105,572 4,501 Fund balances at 30 December 2023 72,802 6,379 |
Total Unrestricted Restricted funds funds 2023 2022 2022 £ £ £ 87,155 211,504 4,501 51,638 1,673 - - 442 - 5,010 - - 143,803 213,619 4,501 14,960 6,847 - 159,735 101,200 - 174,695 108,047 - (30,892) 105,572 4,501 110,073 - - 79,181 105,572 4,501 |
Total 2022 £ 216,005 1,673 442 - |
|---|---|---|
| 218,120 | ||
| 6,847 | ||
| 101,200 | ||
| 108,047 | ||
| 110,073 - |
||
| 110,073 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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Terry's Day Care Limited
Balance sheet
As at 30 December 2023
| Notes Fixed assets Tangible assets 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Income funds Restricted funds 16 Unrestricted funds |
2023 £ 7,924 97,098 105,022 (38,833) |
£ 12,992 66,189 79,181 6,379 72,802 79,181 |
2022 £ £ 6,368 2,687 108,048 110,735 (7,030) 103,705 110,073 4,501 105,572 110,073 |
2022 £ £ 6,368 2,687 108,048 110,735 (7,030) 103,705 110,073 4,501 105,572 110,073 |
|---|---|---|---|---|
| 110,073 | ||||
| 4,501 105,572 |
||||
| 110,073 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 December 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .........................
..............................
Mr S McGee
Trustee
Company registration number 13554558
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Terry's Day Care Limited
Notes to the financial statements For the year ended 30 December 2023
1 Accounting policies
Charity information
Terry's Day Care Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Ground Floor, Madgwick Lane, Westhampnett, Chichester, PO18 0FB, England.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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Terry's Day Care Limited
Notes to the financial statements (continued) For the year ended 30 December 2023
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings 20% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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Terry's Day Care Limited
Notes to the financial statements (continued) For the year ended 30 December 2023
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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Terry's Day Care Limited
Notes to the financial statements (continued)
For the year ended 30 December 2023
3 Donations and legacies
| Unrestricted Restricted funds funds 2023 2023 £ £ Donations and gifts 3,891 - Legacies receivable 50,000 - Other grants 15,417 17,847 69,308 17,847 Grants receivable for core activities Capita WSCC 9,542 - Chichester County Council 500 - Rowan Bentall Charitable Trust 250 - Albert Hunt Trust 2,000 - West Sussex Travel Society Charity 500 - Tesco Community Grants 2,625 - Restricted funds - 17,847 15,417 17,847 |
Total Unrestricted Restricted Total funds funds 2023 2022 2022 2022 £ £ £ £ 3,891 1,504 4,501 6,005 50,000 200,000 - 200,000 33,264 10,000 - 10,000 87,155 211,504 4,501 216,005 9,542 10,000 - 10,000 500 - - - 250 - - - 2,000 - - - 500 - - - 2,625 - - - 17,847 - - - 33,264 10,000 - 10,000 |
|---|---|
4 Charitable activities
Other income
| Private | Private |
|---|---|
| respite | respite |
| 2023 | 2022 |
| £ | £ |
| 51,638 | 1,673 |
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Terry's Day Care Limited
Notes to the financial statements (continued)
For the year ended 30 December 2023
5 Other trading activities
| Total | Unrestricted | |
|---|---|---|
| funds | ||
| 2023 | 2022 | |
| £ | £ | |
| Fundraising events | - | 442 |
| Raising funds | ||
| Unrestricted | Unrestricted | |
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Fundraising and publicity | ||
| Seeking donations, grants and legacies | 14,960 | 6,847 |
| 14,960 | 6,847 |
6 Raising funds
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Terry's Day Care Limited
Notes to the financial statements (continued)
For the year ended 30 December 2023
7 Charitable activities
| Day care Day care 2023 2022 £ £ Staff costs 74,880 19,611 Depreciation and impairment 2,434 948 Advertising and marketing 1,210 15,445 Rent and rates 33,713 19,397 Arts, crafts and general day care costs 8,158 11,817 Repairs and renewals 4,686 13,284 Cleaning and hygiene 2,504 1,146 Music costs 227 449 Food and catering 10,148 3,094 137,960 85,191 Share of support costs (see note 8) 19,961 14,433 Share of governance costs (see note 8) 1,814 1,576 159,735 101,200 Analysis by fund Unrestricted funds 143,766 101,200 Restricted funds 15,969 - 159,735 101,200 |
Day care Day care 2023 2022 £ £ Staff costs 74,880 19,611 Depreciation and impairment 2,434 948 Advertising and marketing 1,210 15,445 Rent and rates 33,713 19,397 Arts, crafts and general day care costs 8,158 11,817 Repairs and renewals 4,686 13,284 Cleaning and hygiene 2,504 1,146 Music costs 227 449 Food and catering 10,148 3,094 137,960 85,191 Share of support costs (see note 8) 19,961 14,433 Share of governance costs (see note 8) 1,814 1,576 159,735 101,200 Analysis by fund Unrestricted funds 143,766 101,200 Restricted funds 15,969 - 159,735 101,200 |
Day care Day care 2023 2022 £ £ Staff costs 74,880 19,611 Depreciation and impairment 2,434 948 Advertising and marketing 1,210 15,445 Rent and rates 33,713 19,397 Arts, crafts and general day care costs 8,158 11,817 Repairs and renewals 4,686 13,284 Cleaning and hygiene 2,504 1,146 Music costs 227 449 Food and catering 10,148 3,094 137,960 85,191 Share of support costs (see note 8) 19,961 14,433 Share of governance costs (see note 8) 1,814 1,576 159,735 101,200 Analysis by fund Unrestricted funds 143,766 101,200 Restricted funds 15,969 - 159,735 101,200 |
|---|---|---|
| 2023 £ 74,880 2,434 1,210 33,713 8,158 4,686 2,504 227 10,148 137,960 19,961 1,814 159,735 143,766 15,969 159,735 |
2022 £ 19,611 948 15,445 19,397 11,817 13,284 1,146 449 3,094 |
|
| 85,191 14,433 1,576 |
||
| 101,200 | ||
| 101,200 - |
||
| 101,200 |
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Terry's Day Care Limited
Notes to the financial statements (continued) For the year ended 30 December 2023
| 8 Support costs Support costs Governance costs £ £ Staff costs 12,650 - Legal and professional 1,734 - Bank charges 301 - Telephone and internet 2,219 - IT costs 1,311 - Insurance 797 - Staff welfare and travel 949 - Accountancy - 1,814 19,961 1,814 Analysed between Charitable activities 19,961 1,814 |
2023 Support costs Governance costs £ £ £ 12,650 8,000 - 1,734 2,258 - 301 700 - 2,219 - - 1,311 1,326 - 797 2,149 - 949 - - 1,814 - 1,576 21,775 14,433 1,576 21,775 14,433 1,576 |
2022 £ 8,000 2,258 700 - 1,326 2,149 - 1,576 |
|---|---|---|
| 16,009 | ||
| 16,009 |
9 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
10 Employees
The average monthly number of employees during the year was:
| 2023 | 2022 | |
|---|---|---|
| Number | Number | |
| 4 | 2 | |
| Employment costs | 2023 | 2022 |
| £ | £ | |
| Wages and salaries | 81,884 | 25,975 |
| Social security costs | 4,505 | 1,355 |
| Other pension costs | 1,141 | 281 |
| 87,530 | 27,611 |
There were no employees whose annual remuneration was more than £60,000.
11 Taxation
The charity is exempt from taxation on its activities on the basis that all income is applied for charitable purposes.
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Terry's Day Care Limited
Notes to the financial statements (continued)
For the year ended 30 December 2023
12 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Fixtures and fittings | |
| £ | |
| Cost | |
| At 31 December 2022 | 7,316 |
| Additions | 9,058 |
| At 30 December 2023 | 16,374 |
| Depreciation and impairment | |
| At 31 December 2022 | 948 |
| Depreciation charged in the year | 2,434 |
| At 30 December 2023 | 3,382 |
| Carrying amount | |
| At 30 December 2023 | 12,992 |
| At 30 December 2022 | 6,368 |
13 Debtors
| Amounts falling due within one year: Trade debtors Prepayments and accrued income Creditors: amounts falling due within one year Other taxation and social security Trade creditors Other creditors Accruals and deferred income |
2023 £ 7,500 424 7,924 2023 £ 1,335 26,814 8,771 1,913 38,833 |
2022 £ 2,315 372 |
|---|---|---|
| 2,687 | ||
| 2022 £ 1,226 1,895 2,909 1,000 |
||
| 7,030 |
14 Creditors: amounts falling due within one year
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Terry's Day Care Limited
Notes to the financial statements (continued) For the year ended 30 December 2023
15 Retirement benefit schemes
Defined contribution schemes
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £1,141 (2022 - £281).
16 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement | Movement in funds | Movement in funds | |||
|---|---|---|---|---|---|
| in funds | |||||
| Incoming | Balance at | Incoming | Resources | Balance at | |
| resources | 31 December | resources | expended | 30 December | |
| 2022 | 2023 | ||||
| £ | £ | £ | £ | £ | |
| Hall and Woodhouse Community | |||||
| Chest | 2,682 | 2,682 | - | (2,682) | - |
| Chichester City Council | 1,819 | 1,819 | - | (1,819) | - |
| Sussex Community Foundation | - | - | 5,000 | (5,000) | - |
| Homity Trust | - | - | 1,000 | (1,000) | - |
| Barchester Healthcare Foundation | - | - | 800 | (338) | 462 |
| Simpson Charitable Trust | - | - | 1,100 | - | 1,100 |
| Awards for All | - | - | 9,947 | (5,130) | 4,817 |
| 4,501 | 4,501 | 17,847 | (15,969) | 6,379 |
The purpose of each restricted fund noted above is as follows:-
Hall and Woodhouse Community Chest represents a grant for Wellbeing activities.
Chichester City Council represents a grant for the purchase of kitchen and sensory equipment.
Sussex Community Foundation represents a grant to cover staff costs.
Homity Trust represents a a grant for Wellbeing activities
Barchester Healthcare Foundation represents a grant to cover music costs.
The Simpson Charitable Trust represents a grant to cover wellbeing activities.
Awards for All Lottery funding represents a grant to cover staff costs and wellbeing activities.
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Terry's Day Care Limited
Notes to the financial statements (continued)
For the year ended 30 December 2023
| 17 Analysis of net assets between funds Unrestricted funds Restricted funds 2023 2023 £ £ Fund balances at 30 December 2023 are represented by: Tangible assets 12,992 - Current assets/ (liabilities) 59,810 6,379 72,802 6,379 |
Total Unrestricted funds Restricted funds 2023 2022 2022 £ £ £ 12,992 6,368 - 66,189 99,204 4,501 79,181 105,572 4,501 |
Total 2022 £ 6,368 103,705 |
|---|---|---|
| 110,073 |
18 Related party transactions
Transactions with related parties
During the year the charity entered into the following transactions with related parties:
The charity incurred costs of £114,602 (2022 - £40,745) for wages, rent and rates, legal and professional fees and other direct charitable costs from West Sussex Care Limited a company with a common director. At the period end there was a balance outstanding of £2,784 (£1,027) included within other creditors.
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