www.christiancaretrust.org
THE CHRISTIAN CARE TRUST
Charity Registration Number: 1203723
Report and Financial Statements
For the year to 30 April 2025
THE CHRISTIAN CARE TRUST
Report and Financial Statements 2025 Contents
| Page | |
|---|---|
| Legal & administrative information | 2 |
| Report of the Trustees | 3 |
| Independent Examiner's report to the Trustees | 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Statement of Cashflows | 11 |
| Notes to the financial statements | 12 |
1
THE CHRISTIAN CARE TRUST
Legal and Administrative Information For the year ended 30 April 2025
| Charity Name | The Christian Care Trust. | |
|---|---|---|
| Charity Registration | 1203723. The Christian Care Trust (“the Charity”) was established as a CIO on 21 June | |
| 2023 and took on the assets, liabilities and operations of its predecessor The Christian | ||
| Care Trust (1071039) (“the predecessor Charity”) in phases in the period between May | ||
| to July 2024. The predecessor charity was established on 14 April 1997 by certain | ||
| individuals from St Paul’s and St Luke’s Church, Finchley. | ||
| Registered Office | The Christian Care Trust, 110 Nether Street, Finchley, London N12 8EU. | |
| Governing document | CIO Association. | |
| Objectives | To advance the Christian faith, in particular (but not exclusively) by providing relief and | |
| care to elderly persons who by reason of age, infirmity or otherwise are in need, | ||
| including by but not limited to the provision of a residential care home and associated | ||
| services and facilities (for example outreach care in the community). | ||
| Trustees | The Trustees who served during the year or who were serving at the date of this report | |
| were: | ||
| Will Hawkes Appointed 23 June 2023 |
||
| Suki Choi Appointed 23 June 2023 |
||
| Nick Harvey Appointed 23 June 2023 |
||
| Ernest John Perry Appointed 1 June 2024 |
||
| Alison Peters Appointed 1 June 2024 |
||
| Members | The Parochial Church Councils of St Paul’s Finchley and Christ Church North Finchley | |
| Key Management | Those in charge of planning, directing, controlling, running and operating the Charity, | |
| Personnel | including those members of staff who are the senior management personnel to whom | |
| the trustees have delegated significant authority or responsibility | in the day-to-day | |
| running of the charity, are: the Trustees and the Registered Manager. | ||
| Bankers | Barclays Bank | |
| 5/6 High Street | ||
| Hitchin | ||
| Herts SG5 1BJ | ||
| Independent Examiner | Sheila Parry ACCA | |
| SPX Oxford Limited | ||
| Peace House | ||
| 19 Paradise Street | ||
| Oxford OX1 ILD |
2
THE CHRISTIAN CARE TRUST
Report of the Trustees For the year ended 30 April 2025
The Trustees submit their report and the financial statements of the Christian Care Trust (“the Charity”) for the year ended 30 April 2025. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2015 (FRS102)). The legal and administrative information set out earlier in this document forms part of this report.
Merger with Predecessor Charity
The Charity was incorporated on 23 June 2023 to take over the activities and assets of the predecessor charity (“the predecessor charity”) which previously operated under an unincorporated structure. The transfer of assets and operations took place over a period commencing 1 May 2024 and ending 9 July 2024.
The Charity has adopted merger accounting in accordance with the Charities SORP (FRS 102), treating the activities of the CIO and the former charity as a continuation of the same entity. The comparative figures presented in these accounts are based on the financial statements of the predecessor charity for the year ended 30 September 2023, which was its last full accounting period.
Due to differing year ends (30 September for the predecessor and 30 April for the charity), there is a gap in comparative financial information for the period from 1 October 2023 to 30 April 2024. No separate financial statements were prepared for this interim period. Trustees consider that the use of merger accounting, along with appropriate narrative explanations for the period 1 October 2023 to 30 April 2024, provides a true and fair view of the Charity's financial position and performance.
1. Structure, Governance & Management
1.1 Trustees
Member Appointed Trustees are appointed by written notice of each Member and stand until such a time as the Member appoints a replacement. Co-opted Trustees stand for a term of three years and can stand for reappointment after the term. The Trustees meet regularly to discuss a full range of matters relating to finance, fabric and general administration relating to the Charity. In addition, Trustees are given the task of monitoring and reporting to the Board on different aspects of the running of the Charity. None of the Trustees receive remuneration.
1.2 Members
The Parochial Church Councils of St Paul’s Finchley and Christ Church North Finchley constitute the charity's members
1.3 Personnel
Team Leaders and Senior Carers to take responsibility for home management during shifts. An expanded support team, now including domestic and maintenance personnel, ensures the home is fit for purpose and operationally well run. The Trustees continue to pay staff at the Real Living Wage rate for London.
1.4 Risk Management
The Trustees recognise their responsibility to identify, assess, and manage the risks faced by the Charity in order to ensure the effective delivery of its charitable objectives and the ongoing safety and wellbeing of residents. In discharging these responsibilities, the Trustees seek to act faithfully and responsibly, reflecting both the Charity’s Christian ethos and their legal duties under charity law.
The Trustees have reviewed the principal risks to which the Charity is exposed, particularly those arising from the operation of a residential care home for vulnerable older people, including risks relating to regulatory compliance, staffing, financial sustainability, and safeguarding. The Trustees consider that these risks are inherent in the Charity’s activities and are managed through ongoing oversight, regular review, and appropriate internal controls.
3
THE CHRISTIAN CARE TRUST
Report of the Trustees For the year ended 30 April 2025
Regulatory compliance and quality of care
The Charity operates within a highly regulated environment and is subject to oversight by the Care Quality Commission (CQC). There is a risk that failure to meet regulatory standards could adversely affect residents’ wellbeing, the Charity’s reputation, and its financial sustainability. The Trustees mitigate this risk through regular engagement with the Registered Manager, investment in staff training and supervision, ongoing review of policies and procedures, and targeted investment in the fabric and safety of the building. External advice and mock inspections are used where appropriate to identify and address areas for improvement.
Staffing and workforce risks
The quality of care provided by the Charity is highly dependent on the recruitment, retention, and wellbeing of suitably trained staff. Risks include staff shortages, increased agency costs, and the loss of key personnel. These risks are mitigated by paying staff with reference to the Real Living Wage for London, maintaining staffing levels above minimum regulatory requirements, investing in training and professional development, and fostering a supportive working environment.
Financial sustainability and liquidity
The Charity is primarily funded through residents’ fees, supplemented by donations, legacies, and trustee support where required. There is a risk arising from fluctuations in occupancy, delayed receipt of fees, or increases in operating costs. The Trustees mitigate this risk by setting fees at a level intended to cover operating costs over the medium term, monitoring cash flow and reserves, maintaining a reserves policy, and, where necessary, utilising interest-free trustee funding provided on a conditional basis to support working capital while protecting the continuity of care.
Dependency on key individuals
The Charity relies on the continued service of its Registered Manager and a number of experienced staff members. The Trustees mitigate this risk by ensuring appropriate delegation, maintaining clear policies and procedures, supporting succession planning, and ensuring that trustees maintain sufficient oversight and understanding of the Charity’s operations.
2. Activities & Strategies
The sole activity of the Charity is the operation of a residential care home for elderly persons who, by reason of age, infirmity, and cognitive impairment, including dementia, are in need of care and support. The Charity seeks to provide this service in a manner that demonstrates Christian love in action, combining high-quality personal care with dignity, compassion, and respect for each resident as an individual.
The Charity’s operations are based at its residential home, Grace House, located at 110 Nether Street, Finchley, London N12 8EU. Grace House provides accommodation and facilities specifically suited to the needs of vulnerable older people, including ensuite bedrooms, communal living and dining spaces, and access to a secure and well-maintained garden and outdoor areas. These facilities are designed to support residents’ safety, comfort, and wellbeing while enabling a homely and supportive environment.
The Trustees have given due regard to the Charity Commission’s guidance on public benefit. The Trustees believe that the Charity provides clear public benefit primarily through the provision of residential care for elderly persons who are no longer able to live independently and who require ongoing personal care, supervision, and support.
4
THE CHRISTIAN CARE TRUST
Report of the Trustees For the year ended 30 April 2025
Many residents are living with dementia or other age-related conditions, and the Charity’s work relieves need by providing a safe, stable Christian environment in which residents’ physical, emotional, and spiritual needs can be met. In doing so, the Charity also supports families and carers and helps reduce pressure on local authority and health services.
The Charity’s strategy is to provide a standard of personal care that exceeds minimum regulatory requirements, recognising that residents’ quality of life depends not only on physical care but also on emotional security, social engagement, and continuity of relationships. To support this, the Charity maintains staffing levels that are higher than those typically found in commercial care homes, with a ratio of at least three care providers to eleven residents during waking hours. This approach allows staff sufficient time to know residents well, respond to individual needs, and ensure that residents are not left alone for extended periods.
In keeping with the Charity’s Christian ethos, residents are supported holistically through opportunities for worship, Holy Communion, pastoral care, volunteer visits, and a range of social, cultural, and recreational activities. These activities are intended to complement the Charity’s core care provision by promoting social interaction, mental stimulation, and spiritual wellbeing. High-quality meals are prepared using good-quality ingredients, and residents are encouraged to enjoy a varied and engaging daily life within the home. Occasional meals are also provided to visitors, including volunteers, friends, and family members, for a nominal charge.
The Charity undertakes limited fundraising activity, primarily through donations, gifts, and legacies from supporters and friends of the Charity. Funds raised in this way are used to support general running costs and specific projects, helping to sustain the quality of care provided and, where possible, to mitigate increases in fees charged to residents. The Charity maintains close links with its Members, the Parochial Church Councils of St Paul’s Finchley and Christ Church North Finchley, with whom it shares a common Christian commitment.
3. Achievements and Performance
Grace House provides residential care for up to eleven residents, primarily elderly Christians who require support due to age, infirmity, or dementia. During the year, the Charity maintained full occupancy and continued to provide high-quality, person-centred care.
The Trustees recognise that maintaining and improving the quality of care requires ongoing investment in both people and the property. In 2025, the Charity deliberately invested in staff development, training, and wellbeing to ensure that care provision exceeds regulatory requirements and supports residents’ safety, dignity, and quality of life. Staffing ratios remained above the level typical of commercial care homes, allowing staff sufficient time to develop strong, supportive relationships with residents.
The Charity also continued to invest in the building and its facilities to ensure compliance with CQC standards, including fire safety upgrades, equipment maintenance, and ongoing improvements to communal and private areas. These strategic investments are intended to maintain a safe and comfortable environment that promotes residents’ physical, emotional, and spiritual wellbeing.
Despite these necessary investments, the Charity achieved a modest surplus for the year. This reflects a careful balance between providing high-quality care and maintaining financial sustainability. The Trustees believe that the combination of stable occupancy, prudent financial management, and targeted investment in staff and facilities positions the Charity to continue delivering its charitable objectives effectively into the future.
No formal complaints were received from residents during the year. The Trustees and management continue to focus on continuous improvement in care quality and compliance, with the goal of returning the Home to a “Good” rating in the next CQC inspection.
5
THE CHRISTIAN CARE TRUST
Report of the Trustees For the year ended 30 April 2025
4. Financial Review
4.1 Funding
The Charity’s primary source of income is fees paid by residents for the provision of residential care. These fees are supplemented by occasional voluntary donations, legacies, and, where necessary, long-term loans to support working capital. Fee levels are set to cover operating costs and to allow the Charity to maintain the high standards of care that are central to its charitable objectives. Where residents require local authority support to meet fees, the Charity assists in securing such funding. The Trustees aim to ensure that financial considerations do not compromise the quality of care provided or the safety and wellbeing of residents.
4.2 Financial Activities and Financial Position
In 2025, the Charity generated a surplus, before a building impairment charge of £156,144, of £29,686. This modest amount reflects a careful balance between providing high-quality care, investing in staff development, and maintaining and improving the building to ensure ongoing compliance with CQC standards.
The Statement of Financial Activities, Balance Sheet and Statement of Cash Flows are on pages 9, 10 and 11 respectively. The Charity’s reserves decreased by £126,458 during the year (2023: increased by £4,890). The balance sheet shows total net assets of £1,296,958 (2023: £1,388,492). Cash on hand was £45,556.
4.3 Reserves Policy
The Trustees have examined the requirements for free reserves, defined as unrestricted funds not invested in tangible fixed assets. Given the nature of the Charity’s work, the Trustees consider that free reserves should generally be equivalent to approximately three months’ routine expenditure. This level of reserves provides flexibility to manage short-term fluctuations in income or expenditure and ensures the Charity can continue to provide uninterrupted care for residents.
On 30 April 2025, the Charity held net free reserves of £48,143 (2023: £4,457). While this is below the target set by the Trustees, it reflects timing differences in income, influenced by outstanding fee payments from residents and the planned phased repayment of trustee loans. The Trustees are confident that free reserves will be maintained at sustainable levels over the medium term through ongoing financial oversight, continued fundraising, and prudent expenditure.
| Total reserves Less: fixed assets used for the continuing work of the charity Add: long term loans Less: restricted funds Free reserves Free reserves requirement 3 month’s budgeted routine expenditure |
2025 | 2023 |
|---|---|---|
| £ | £ | |
| 1,296,958 | 1,388,492 | |
| (1,329,815) | (1,486,188) | |
| 86,000 | 102,153 | |
| (5,000) | - | |
| 48,143 | 4,457 | |
| 150,000 | 150,000 | |
The Trustees are aware that the free reserves requirement is currently below the present free reserves and are actively looking at ways in which parity can be restored in the medium term.
6
THE CHRISTIAN CARE TRUST
Report of the Trustees For the year ended 30 April 2025
5. Going Concern
Each year, the Trustees must state whether or not the annual accounts have been drawn up on a going-concern basis (see the accounting policy note on page 11). Going concern is the assumption that an entity, in this case, the Charity, has the resources (financial or otherwise) needed to continue operating for the foreseeable future and, in particular, for at least 12 months from the date of approval by the Trustees of these annual accounts. If the goingconcern principle did not apply, the accounts would be drawn up on an insolvent basis.
The Trustees have concluded that preparing the 2025 Accounts on a going-concern basis is appropriate and that making any adjustments is unnecessary.
6. Plans for Future Periods
The priorities of the Trustees are to return the Home to the “Good” CQC rating from the current level of “Requires Improvement”; to maintain full occupancy of the home; and to upgrade facilities to ensure compliance with regulations. Emphasis on staff training will continue, as will the development of activities that enhance social opportunities for residents. The Charity will continue to generate surpluses to meet the free reserves requirement.
7. Responsibilities of Trustees for the Financial Statements
The Trustees are responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its financial activities for that period.
In preparing those financial statements, the Trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
follow applicable accounting standards, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the activities of the charity will continue.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities Act 2011. Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
8. Approval
The report of the Trustees was approved by the Trustees on 8 February 2026 and signed on their behalf by:
Will Hawkes Trustee
7
THE CHRISTIAN CARE TRUST
Report of the Independent Examiner to the Trustees of The Christian Care Trust
I report on the financial statements of Christian Care Trust for the year ended 30 April 2025, set out on pages 9 to 19.
This report is made solely to the Trustees in accordance with section 145 of the Charities Act 2011 (the Act). My independent examination has been undertaken so that I might state to the Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by the law, I do not accept responsibility to anyone other than the Charity and the Trustees for my independent examination, for this report, or the opinions I have formed.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The Trustees consider that an audit is not required for this year (under section 144(2) of the Act) and that an independent examination is needed. The charity’s gross income exceeds £250,000 and I am qualified to undertake the examination by being a qualified member of the Chartered Association of Certified Accountants. It is my responsibility to:
-
Examine the accounts (under section 145 of the Act);
-
To follow the procedures laid down in the General Direction given by the Charity Commission (under section 145(5)(b) of the Act); and
-
To state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER’S STATEMENT
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.
INDEPENDENT EXAMINER’S STATEMENT
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 accounts to be reached.
Sheila Parry 9 February 2026
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THE CHRISTIAN CARE TRUST
Statement of Financial Activities For the year ended 30 April 2025
| Note Income from: 2 Donations and legacies Charitable activities Investments Other Total Income Expenditure on: Raising funds Charitable activities 3 Impairment of tangible fixed assets Total Expenditure Net gains/(losses) on investments Net income Transfers between funds Other recognised gains/(losses) Net movement in funds Total funds brought forward Total funds carried forward |
Unrestricted Funds 2025 £ 6,984 668,840 180 - |
Restricted Funds 2025 £ 5,000 - - - 5,000 - - - 0 - 5,000 - - 5,000 - 5,000 |
Unrestricted Funds 2023 £ 19,985 584,512 452 2,000 |
Restricted Funds 2023 £ - - - - 0 - - - 0 - 0 - - 0 - 0 |
Total 2023 £ 19,985 584,512 452 2,000 |
||
|---|---|---|---|---|---|---|---|
| Total | |||||||
| 2025 | |||||||
| £ | |||||||
| 11,984 | |||||||
| 668,840 | |||||||
| 180 | |||||||
| - | |||||||
| 676,004 | 606,949 | 606,949 | |||||
| 681,004 | |||||||
| - 651,318 156,144 807,462 - (131,458) - - (131,458) 1,423,416 1,291,958 |
- 602,059 - |
- 602,059 - |
|||||
| - | |||||||
| 651,318 | |||||||
| 156,144 | |||||||
| 602,059 | 602,059 | ||||||
| 807,462 | |||||||
| - | - | ||||||
| - | |||||||
| 4,890 | 4,890 | ||||||
| (126,458) | |||||||
| - - |
- - |
||||||
| - | |||||||
| - | |||||||
| 4,890 1,383,062 |
4,890 1,383,602 |
||||||
| (126,458) | |||||||
| 1,423,416 | |||||||
| 1,387,952 | 1,388,492 | ||||||
| 1,296,958 | |||||||
9
THE CHRISTIAN CARE TRUST
Balance Sheet As at 30 April 2025
| Note Fixed Assets Tangible Assets 4 Current Assets Debtors 5 Cash At Bank And In Hand Creditors - Amounts Falling Due Within One Year 6 Net Current Assets Creditors - Amounts Falling Due After More Than One Year 7 Net Assets Represented by: Restricted Funds 8 Unrestricted Income Funds Total Funds |
Unrestricted Funds 2025 £ 1,329,815 1,329,815 59,272 40,556 99,828 51,685 48,143 86,000 1,291,958 - 1,291,958 1,291,958 |
Restricted Funds 2025 £ - 0 - 5,000 5,000 - 5,000 - 5,000 5,000 - 5,000 |
Total 2023 £ 1,486,188 |
|||
|---|---|---|---|---|---|---|
| Total | ||||||
| 2025 | ||||||
| £ | ||||||
| 1,329,815 | ||||||
| 1,486,188 20,977 47,968 |
||||||
| 1,329,815 | ||||||
| 59,272 | ||||||
| 45,556 | ||||||
| 68,945 64,488 |
||||||
| 104,828 | ||||||
| 51,685 | ||||||
| 4,457 102,153 |
||||||
| 53,143 | ||||||
| 86,000 | ||||||
| 1,388,492 | ||||||
| 1,296,958 | ||||||
| - 1388,492 |
||||||
| 5,000 | ||||||
| 1,291,958 | ||||||
| 1,388,492 | ||||||
| 1,296,958 | ||||||
The financial statements were approved by the Trustees on 8 February 2026 and signed on their behalf by:
Will Hawkes Trustee
10
THE CHRISTIAN CARE TRUST
Statement of Cash Flows For the year ended 30 April 2025
Note Net cash flows from operating activities 10 Cash flows from investing activities: Dividends, interest and rents from investments Purchase of property, plant and equipment Net cash used in investing activities Cash flows from financing activities Repayments of borrowing Cash inflows from new borrowing Net cash used in financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents brought forward Cash and cash equivalents carried forward |
Unrestricted Funds 2025 £ (17,150) 180 (3,618) (3,438) (141,748) 120,000 (21,748) (42,336) 82,892 40,556 |
Restricted Funds 2025 £ 5,000 - - - - - 5,000 - 5,000 |
Total 2023 £ (13,308 452 (80,175) |
) ) ) ) ) |
|
|---|---|---|---|---|---|
| Total | |||||
| 2025 | |||||
| £ | |||||
| (12,150) | |||||
| 180 | |||||
| (3,618) | |||||
| (79,723 | |||||
| (3,438) | |||||
| (29,595 - |
|||||
| (141,748) | |||||
| 120,000 | |||||
| (29,595 | |||||
| (21,748) | |||||
| (122,626 241,411 |
|||||
| (37,336) | |||||
| 82,892 | |||||
| 118,785 | |||||
| 45,556 | |||||
11
THE CHRISTIAN CARE TRUST
Notes to the Financial Statements For the year ended 30 April 2025
1. Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Basis of Preparation and Merger Accounting
These financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards, including the Charities SORP (FRS 102).
The charity was registered as a Charitable Incorporated Organisation (CIO) on 1 May 2024 and has adopted merger accounting principles in line with the SORP. These accounts have been prepared on the basis that the activities of the forerunner charity and the CIO are a continuation of the same entity.
Comparative figures are based on the financial statements of the predecessor charity for the year ended 30 September 2023. No financial information is presented for the period between 1 October 2023 and 30 April 2024 as no separate statutory accounts were drawn up during this transition period.
The Charity meets the definition of a public benefit entity under FRS 102.
Going Concern
There are no material uncertainties about the charity’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis.
Income recognition
Voluntary income and donations (including legacies) are accounted for once the Charity has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period in which the relevant tax refund is received. Grant income is recognised on a receivable basis.
Fee income is recognised on a receivable basis.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.
Expenditure recognition
Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The Charity is not registered for VAT and accordingly expenditure includes VAT where appropriate.
Expenditure included in Raising Funds includes amounts incurred in obtaining grants and other donations.
Charitable expenditure includes those costs in fulfilling the Charity’s principal objects, as outlined in the Report of the Trustees. Charitable expenditure includes governance costs and an apportionment of support costs. Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.
Rentals under operating leases are charged as incurred over the term of the lease.
Taxation
As a charity, the Charity is exempt from tax on income and gains falling within the provisions of the Corporation Taxes Act 2010 or the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen on the Charity.
12
THE CHRISTIAN CARE TRUST
Notes to the Financial Statements For the year ended 30 April 2025
1. Accounting Policies (continued)
Tangible Fixed Assets
Freehold land and buildings are stated at historic cost less any accumulated impairment losses. The trustees review the estimated useful life and residual value of the property annually. Depreciation is charged where the estimated residual value is lower than the carrying amount. In the current year the trustees reviewed an updated professional valuation for the freehold property and determined that an impairment adjustment was required (see note 4).
The cost of equipment, less any expected residual value, is depreciated on a straight-line basis over the effective useful life of the asset, which has been estimated as 5 years.
Debtors
Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.
Loans
Loans received are classified as basic financial instruments and are initially recognised at the amount advanced. Subsequently, they are measured at amortised cost using the effective interest rate method. Where a loan is provided interest-free or at a below-market rate, the charity measures the loan at the amount received on initial recognition. Loans are derecognised when the contractual obligations are discharged, cancelled or expire.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.
Fund accounting
The funds held by the charity are currently unrestricted general funds. These are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
13
THE CHRISTIAN CARE TRUST
Notes to the Financial Statements For the year ended 30 April 2025
2. Income
| 2. Income | ||||
|---|---|---|---|---|
| Unrestricted Funds 2025 £ Restricted Funds 2025 £ Donations & legacies Donations 6,564 5,000 Income tax reclaimed 420 - Legacies - - Grants - - 6,984 5,000 Charitable activities Service delivery 668,840 - Investments Bank Interest 180 - Other income - - 676,004 5,000 |
Total 2023 £ 8,000 - 10,006 1,979 |
|||
| Total | ||||
| 2025 | ||||
| £ | ||||
| 11,564 | ||||
| 420 | ||||
| - | ||||
| - | ||||
| 19,985 584,512 452 2,000 |
||||
| 11,984 | ||||
| 668,840 | ||||
| 180 | ||||
| - | ||||
| 606,949 | ||||
| 681,004 | ||||
Income from government sources include: within grants, amounts totalling nil (2023: £1,979) relating to the Covid19 pandemic and, within charitable activities, amounts totalling £110,760 (2023: £87,930) relating to fees paid for residential care.
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THE CHRISTIAN CARE TRUST
Notes to the Financial Statements For the year ended 30 April 2025
3. Expenditure on Charitable Activities
| Provision of Care Gross salaries Employer’s National Insurance Employer’s Allowance Employer’s Workplace Pension Temporary staff Recruitment Staff welfare (including training) Catering supplies Resident welfare CQC registration fees & CRB Fees Staff Clothing & Sundries Provision of Premises & Equipment Premises insurance Premises Council Tax Premises maintenance Premises heat, light & water Premises mortgage interest Fixtures & fittings & equipment depreciation Equipment maintenance Equipment purchases Provision of Administrative Support Administrative Salaries Employer’s National Insurance Employer’s Workplace Pension Postage, stationery, consumables Telephone & internet Office equipment depreciation Office software & equipment maintenance Bank & interest charges Professional fees Subscriptions Sundry Beneficiary Payment Bad Debt Governance Independent examination |
Total 2025 £ |
Total 2023 £ 315,862 28,902 (5,000) 5,287 23,156 - 8,110 20,495 8,538 549 110 |
||
|---|---|---|---|---|
| 368,433 | ||||
| 32,272 | ||||
| (9,539) | ||||
| 6,873 | ||||
| 4,845 | ||||
| 4,413 | ||||
| 10,831 | ||||
| 19,262 | ||||
| 16,473 | ||||
| 3,377 | ||||
| - | ||||
| 406,009 8,903 1,119 27,109 14,649 8,374 1,510 1,683 12,772 |
||||
| 457,240 | ||||
| 5,064 | ||||
| 1,113 | ||||
| 36,661 | ||||
| 12,920 | ||||
| 8,210 | ||||
| 4,529 | ||||
| 2,965 | ||||
| 1,350 | ||||
| 76,119 62,439 5,823 1,452 550 1,098 - 3,909 241 37,029 - 428 6,000 362 |
||||
| 72,812 | ||||
| 69,544 | ||||
| 7,221 | ||||
| 1,457 | ||||
| 1,736 | ||||
| 1,544 | ||||
| 3,575 | ||||
| 107 | ||||
| 28,960 | ||||
| 855 | ||||
| 617 | ||||
| 5,000 | ||||
| - | ||||
| 119,331 600 |
||||
| 120,616 | ||||
| 650 | ||||
| 600 | ||||
| 650 | ||||
| 602,059 | ||||
| 651,318 | ||||
15
THE CHRISTIAN CARE TRUST
Notes to the Financial Statements For the year ended 30 April 2025
3. Expenditure on Charitable Activities (continued)
The average number of employees during the year was 15 (2023: 13). No employee received emoluments more than £60,000 during the year. Key Management Personnel received salaries of £57,969 (2023: £72,985). Nonsalaried Trustees received £nil (2023: £nil) in reimbursement for costs incurred on Charity business.
| 4. Tangible Fixed Assets Cost At 1 May 2024 Additions Disposals At 30 April 2025 Depreciation At 1 May 2024 Charge for year Impairment Disposals At 30 April 2025 Net Book Value At 30 April 2025 At 30 September 2023 |
Freehold land & buildings £ Furniture & equipment £ 1,521,585 59,228 - 3,618 - - 1,521,585 62,846 40,441 54,184 - 3,847 156,144 - - - 196,585 58,031 1,325,000 4,815 1,481,144 5,044 |
Total £ 1,580,813 3,618 - |
|---|---|---|
| 1,584,431 | ||
| 94,625 3,847 156,144 - |
||
| 254,616 | ||
| 1,329,815 | ||
| 1,486,188 |
All of the fixed assets are used for charitable purposes and are held in the name of the CIO.
An updated professional valuation obtained in March 2024 indicated a recoverable amount of £1.325m for the freehold property. As this was lower than the carrying amount prior to impairment, the trustees recognised an impairment loss of £156,000 in accordance with FRS 102. This has reduced the carrying value of the property to £1.325m at the balance sheet date.
16
THE CHRISTIAN CARE TRUST
Notes to the Financial Statements For the year ended 30 April 2025
5. Debtors
| CCT Trust Gift Aid Receivable Prepayments Fees receivable Salary Advance Sundry Debtor |
2025 | 2023 £ - - 2,348 18,298 331 - |
||
|---|---|---|---|---|
| £ | ||||
| 4,222 | ||||
| 420 | ||||
| 7,786 | ||||
| 41,324 | ||||
| - | ||||
| 5,520 | ||||
| 20,977 | ||||
| 59,272 | ||||
6. Creditors - Amounts Falling Due Within One Year
| Trade creditors Accruals Commercial loan: Bank of Scotland Plc Trustee loan Other creditors including taxation, workplace pensions and social security |
2025 | 2023 £ 5,511 18,960 29,595 - 10,422 |
||
|---|---|---|---|---|
| £ | ||||
| 12,454 | ||||
| 7,752 | ||||
| - | ||||
| 24,000 | ||||
| 7,479 | ||||
| 64,488 | ||||
| 51,685 | ||||
Bank of Scotland Plc: this loan was secured by a mortgage on the freehold property of the Charity. Repayment of the loan is over 20 years commencing in February 2009. Interest is charged at 1.75% above the Bank of Scotland base rate. The amount disclosed above represents the portion of the loan which is estimated to be repayable within one year. The amount which is payable after more than one year is disclosed in note 7 below.
7. Creditors - Amounts Falling Due After More Than One Year
| 7. Creditors - Amounts Falling Due After More Than One Year | ||||
|---|---|---|---|---|
| Commercial loan: Bank of Scotland Trustee Loan |
2025 | 2023 £ 102,153 - |
||
| £ | ||||
| - | ||||
| 86,000 | ||||
For details of the Bank of Scotland loan see note 6 above.
The trustee loan is unsecured and interest free. The loan is being repaid at a rate of £24,000 per annum, subject to the availability of funds.
17
THE CHRISTIAN CARE TRUST
Notes to the Financial Statements For the year ended 30 April 2025
8. Restricted Income Funds
| Current year Fire door Fund |
At 1 October 2023 £ 0 |
Income £ Expenditure £ 5,000 - |
Income £ Expenditure £ 5,000 - |
Transfers £ Gains/ (losses) £ - - |
Transfers £ Gains/ (losses) £ - - |
At 30 | |||
|---|---|---|---|---|---|---|---|---|---|
| April | |||||||||
| 2024 | |||||||||
| £ | |||||||||
| 5,000 | |||||||||
There were no prior year restricted funds.
9. Reconciliation of Funds
The following reconciliation shows the movement in total funds from the forerunner charity's last reporting date (30 September 2023) to the date of commencement of transfer (1 May 2024), at which point the assets and liabilities were transferred into this CIO:
| Funds as at 30 September 2023 Surplus in the predecessor charity October 2023–April 2024 Funds transferred to CIO |
£ |
|---|---|
| 1,388,492 | |
| 34,924 | |
| 1,423,416 | |
The reserves transferred to the CIO at 1 May 2024 reflect the position of the predecessor charity as at that date. While the forerunner's last formal accounts were to 30 September 2023, the trustees maintained adequate records and management accounts during the intervening 7-month period to enable a reasonable estimate of the funds position at the transfer date. No material adjustments were identified. These balances form the opening funds of the CIO under merger accounting.
10. Reconciliation of net income to net cash flow from operating activities
| Net income for the reporting period (as per the statement of financial activities) Adjustments for: Depreciation charges Impairment of tangible fixed assets Interest from investments (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by operating activities |
Unrestricted Funds 2024 £ (131,458) 3,847 156,144 (180) (38,295) (7,208) (17,150) |
Restricted Funds 2024 £ 5,000 - - - - - 5,000 |
Total 2024 £ |
Total 2023 £ 4,890 1,510 (452) (7,438) (11,818) |
) |
|---|---|---|---|---|---|
| (126,458) | |||||
| 3,847 | |||||
| 156,144 | |||||
| (180) | |||||
| (38,295) | |||||
| (7,208) | |||||
| (13,308 | |||||
| (12,150) | |||||
18
THE CHRISTIAN CARE TRUST
Notes to the Financial Statements For the year ended 30 April 2025
11. Related Party Transactions
During the year a commercial loan previously held by the charity was repaid in full. Following this, Will Hawkes & Suki Choi, both trustees, provided the charity with an unsecured, interest-free loan of £120,000 to support working capital needs. The maximum amount owed to the trustees during the year was £120,000, and the balance outstanding at 30 April 2025 was £110,000. The loan is being repaid at a rate of £24,000 per annum, subject to the availability of funds. No interest or other charges were payable in respect of this loan.
Mrs Ann Gilbert, a Trustee of the predecessor charity until 6 September 2022, is paid £6,000 per annum in accordance with the objects of the charity. The payment is reviewed annually by the Trustees.
19