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2023-12-31-accounts

REGISTERED CHARITY NUMBER: 203787

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ST CHRISTOPHER'S HOME

Shaw Gibbs (Audit) Limited Chartered Certified Accountants Statutory Auditor Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ

ST CHRISTOPHER'S HOME CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Page
Reference and Administrative Details 1 to 2
Report of the Trustees 3 to 8
Report of the Independent Auditors 9 to 11
Statement of Financial Activities 12
Balance Sheet 13
Cash Flow Statement 14
Notes to the Cash Flow Statement 15
Notes to the Financial Statements 16 to 25
Detailed Statement of Financial Activities 26 to 27

ST CHRISTOPHER'S HOME

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023

TRUSTEES CHAIRMAN Mr. Donald Loe VICE CHAIRMAN Mrs. Eileen Clinton TREASURER Mr. Ashley Dunkley EX OFFICIO Father Oliver Cross NOMINATED Rev'd Byung Jun Kim ELECTED Mr. Stephen V. Billings Resigned 25/10/23 Mrs. Celia Irwin Resigned 31/07/23 Mr. Michael Clarke Mrs. Elizabeth Loe Mr. Martin Sharman Major Michael Crouch Mr. Timothy Dolan Lord Bishop of Peterborough PATRON (President) MANAGER Miss S. Clarke PRINCIPAL ADDRESS Abington Park Crescent Northampton Northamptonshire NN3 3AD REGISTERED CHARITY 203787 NUMBER AUDITORS Shaw Gibbs (Audit) Limited Chartered Certified Accountants Statutory Auditor Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ SOLICITORS SP Law Part of the EMW Family 8 Spencer Parade Northampton NN1 5AA

Page 1

ST CHRISTOPHER'S HOME

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023

BANKERS

National Westminster Bank plc 41 Weston Favell Centre Northampton NN3 8JT

INVESTMENT MANAGERS Cave & Sons Lockgates House Rushmills Bedford Road Northampton NN4 7YB

Area of Activity

The ecclesiastical parishes of:

Area Church Abington St Peter and Paul Billing St Andrew and All Saints Boughton St John the Baptist Dallington St James Duston St Luke and St Francis Far Cotton St Mary Grange Park Collingtree, St Columba and Grange Park Hardingstone St Edmund Kingsthorpe St John the Baptist, St David and St Mark Moulton St Peter and St Paul Northampton All Saints with St Katherine and St Peter Christ Church Emmanuel Holy Sepulchre with St Andrew and St Lawrence St Alban the Martyr St Giles St Benedict St James St Matthew St Michael and All Angels with St Edmund Holy Trinity and St Paul St Augustine Piddington with Horton St John the Baptist Quinton and Preston Deanery St John the Baptist Weston Favell St Peter Wootton St George the Martyr

Page 2

ST CHRISTOPHER'S HOME

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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

Objectives and aims

The objective of the Charity is the provision of homes for the welfare, comfort and relief in sickness of persons in need who are aged or infirm. Such homes are intended primarily but not exclusively for the accommodation of members of the Church of England. The Trustees do not believe that the range of beneficiaries is unreasonably restricted by the Charity's constitution.

To this end, the Charity provides a range of different types of accommodation; - 34 flats and bungalows within the perimeter of the estate for those residents who live independently but value the support of St. Christopher's community and its good neighbourly services.

The Trustees' aim is to provide the best possible living environment for those who have chosen to come to live at St. Christopher's. The Home is not registered to provide dementia care, but does support those in residential accommodation with a high level of physical dependency, wherever possible. The Home's aim remains to provide a caring and spiritually sustaining environment for those who wish to avail themselves of the Charity's facilities.

Public benefit

While the Charity charges fees for the services it provides, these are often less than those in the private sector. In addition, the Charity tries to ensure that, regardless of their financial position, no resident will be forced to leave the Home for financial reasons alone. A number of residents are in receipt of local authority funding which cover a proportion of the fees charged. If there are no further contributions, the Trustees use the Charity's own resources; the cost of such support in 2023 was £114,249 (2022 £122,816). The Trustees have had regard to the public benefit guidance published by the Charity Commission and the Trustees continue to maintain the Home's admission procedures to try to ensure that an affordable balance between those able to pay the Home's normal fees and those unable to do so would be maintained.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Fundraising

The Charity raises some funds from the public. It does not use professional or commercial participators but relies on Trustees, Staff and Volunteers to carry out any fund raising activities.

It follows the Charity Commission Guidance "Charity fundraising: a guide to Trustee duties (CC20)" when undertaking fundraising.

The Trustees are not aware of any failures to comply with this standard and monitor all fundraising activities undertaken by the Charity.

When undertaking fund raising the Charity has to protect vulnerable people and other members of the public from the following behaviours:

The Trustees have ensured that the Charity's fundraising activities are undertaken without resorting to such behaviours.

Page 3

ST CHRISTOPHER'S HOME

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

ACHIEVEMENT AND PERFORMANCE Charitable activities

Sarah Clarke, Manager, writes:-

During the past year we have continued to focus on developing and improving areas of the Home for the benefit of the Residents. There was a clear need to focus on activity provisions within the Home and the Wider Independent Living community and efforts and attentions were drawn to reuniting the communities as one following the previous years of separation. A strong emphasis was placed on improving the quality of life and social interactions for all. Bringing both communities back together again. Trustees and Staff in all departments have worked hard to provide opportunities for everyone to come together again through themed events and social activity. Stephen Clamp organized an overnight trip to the seaside for a small group of Residents and Independent Living Residents which was enjoyed thoroughly. There is a desire to make this a regular yearly feature such that Residents can be supported to enjoy a small holiday away from Home.

2023 saw another big event with the Coronation of King Charles III. Once again a huge array of events were organized to host a celebration for our St Christopher's community and extended to the further reach of our Local Community, Friends, and Family. A wonderful time was had by all with four days of special events planned and coordinated by the Trustees, Staff and Volunteers of the Home.

During February of 2023, the Local Authority, West Northants Council inspected us. Overall, the inspection was positive but there were some minor areas identified that needed remedying. These were in regard to tracking trends and themes identified on Audits. Together with enhancing food choices to include lighter bite options for Residents to select and the addition of Two New Emergency Grab bags to be used in the event of a whole Home evacuation. We collaborated with the Local Authority contract monitoring officer and developed an action plan signing off the actions as improvements to the areas identified as they were made and evidenced. This was signed off as completed in April 2023. As a result of the inspection some additional new audits were put into place for oversight of the quality of service and ongoing monitoring.

Recruitment and retention of staff continued to be one of the most challenging areas. Despite making efforts to recruit the right people for the right roles there was still little interest in working within the social care sector. Some Homes took up the governments programs for recruiting oversees workers under certificates of Sponsorship. We chose not to pursue this route as the process its self was complex and extremely costly with many conditions on the recruitment of overseas workers and the employer to contend with. The service did require the use of agency staffing in order to maintain safe staffing levels.

One area that was identified as requiring improvements was staff sickness as this was deemed to be costing the Home an excessive amount each year owing to the very generous company enhanced sickness payments. A thorough review was conducted and a consultation process commenced with staff to enact the changes, with the new policy set to come into place February 2024.

Training was an area that was able to vastly improve in 2023 with staff receiving a number of face to face training sessions to enhance their knowledge and skills. The focus, as always is to ensure that compliance with the mandatory core training elements are maintained for all staff but, a drive forward to also provide the extra specialist subjects was made. 2023 saw a number of refreshers taking place for in house trainers to enable us to continue to deliver the mandatory training subjects in house allowing for the further use of the budget on specialized subjects as denoted by the needs of the current resident group. A number of staff commenced RQF qualifications at levels appropriate for their individual roles which they will undertake over periods of 12 - 24 months further enhancing the skill set and knowledge of our staff and provisions to the people who use our services.

Stephen Clamp and the Maintenance Team worked exceptionally hard throughout the year to ensure that the Home was maintained and refreshed with the decoration of communal areas and corridors taking a priority to maintain the aesthetic appearances of our Home environment. This has been widely commented and remarked upon by all whom visit the Home.

Lisa Dowdy has worked exceptionally hard to ensure that room vacancies are well managed, and we have seen new residents joining us promptly throughout with our waiting list continuing to grow.

Page 4

ST CHRISTOPHER'S HOME

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

Overall, 2023 was a year of growth and improvement. The Homes team of staff and Trustees has a clear focus on areas for improvement going forwards and, are committed to making positive changes to enhance the quality and wellbeing of all whom reside at St Christopher's inside the Home and within the Independent Living properties.

New Plans and Developments

A programme of planned maintenance and refurbishment ensures that the facilities are kept at a high standard and the grounds continue to be maintained excellently, an amenity which is valued by all. The estate staff are to be commended for this.

Visitors will have noticed continual improvements to the public areas and corridors in the main part of the home. We wish to provide an atmosphere that meets the expectations of residents in the 21st century, as rooms become vacant, it is the policy of the trustees to modernise, improve, and redecorate to meet this standard.

Following on from the agreement with the neighbours at 5 Abington Park Crescent the new boundary wall has been constructed along the new boundary to separate the driveway from their demise. The new bin store has been created at the side of the northern car park so as to enclose all the bins stored in that area. The car park and borders have all been updated to give better circulation and more soft landscaping. New signs have also been erected to show people the way from the front entrance to various parts of the home. Latterly a footway has been marked on the drive to keep pedestrians to one side.

Improvements have been made to the kitchen with new cooking equipment including a new 6 burner double oven and a Rational Combi oven. This involved alterations to the gas supply.

New heating and hot water boilers were installed in the Willows wing.

Work has been carried out to repair leaks in the flat roofs at the Hollies, the Willows, The Cedars, and St Martins Court.

Gary Cleaver who worked in the Estates Dept. retired in February.

Stephen Clamp has not been able to attend at the Home due to his illness full time, coming in when he can, but he has been managing his team from home and liaising with Sarah and Donald in the meantime. Stephen returned to work in March but was not fully fit.

A staffroom for the male carers has been formed in Hollies Room No 8.

The ironwork in the St Martins car park was raised to remove puddles after rain.

Some more roof leaks had to be repaired on the St Martin's Court roof and some gable copings rebedded.

We have removed the Portakabin at the main entrance and provided a new entrance screen and doors.

The new and old summerhouse wall boarding has been decorated with good quality stain as have other boarded areas on the estate.

Page 5

ST CHRISTOPHER'S HOME

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

FINANCIAL REVIEW

Financial position

St Christopher's is reliant on the incoming resources provided by the activities in the furtherance of the Charity's objectives. The continued reliance on agency support staff along with the levels of care and support staffing and the further impact following the introduction of the National Living Wage, the net incoming resources for unrestricted funds before investment revaluations reflected a deficit of £218,448 (2022 £154,281deficit). The Charity received in the year £77,937 (2022 £73,749) from its investment portfolio. This investment portfolio year end revaluation resulted in a surplus on unrestricted and restricted funds of £38,452 (2022 £168,237 deficit). Overall the net deficit for the year was £170,166 (2022 £313,222).

As noted above, the Trustees use the Charity's resources to help those residents who are unable to pay the full fees. They budget, however, on the basis that full fees will be paid and regard the investment income as the chief source of support for those unable to pay in full. Existing residents do not therefore subsidise those who pay less than full fees. In general, budgets are framed to produce a broadly neutral financial position.

Investment policy and objectives

There are no restrictions on the Charity's power to invest however the Trustees have committed themselves to follow the ethical principles set out in the policy statement produced by the Church of England Advisory Group. A copy of this policy statement is available on request from the Home. The Charity's investment managers take account of this statement in their management of the Charity's portfolio.

These managers are tasked to produce a targeted level of income while trying to grow the real value of the portfolio. Performance in the year was in line with the benchmarks agreed by the Trustees with the investment manager.

Reserves policy

The Trustees consider that there are two principal areas of financial risk. The first of these is the possibility of a loss of revenue or additional costs due to a particularly severe epidemic or pandemic. The second is the possibility of major expenditure being incurred on unforeseen repairs to buildings or equipment.

The Trustees believe that it would be appropriate to hold free reserves of approximately £250,000 for these eventualities. The free reserves held at the end of the year amounted to £56,336 (2022 £309,959). Reserves are low at the year end due to 2 independent living accommodation properties being bought back by the charity and ready for resale. Once these properties are resold, cash reserves will be returned to an appropriate level. Reserves are monitored at Trustees' meeting on a regular basis.

The total funds held at the end of the reporting period was £4,108,913 (2022 £4,279,079) of which are restricted funds £169,454 (2022 £146,519) which are not available for general purposes. Designated funds at the year end amounted to £450,650 (2022 £387,307). Total funds after making allowances for restricted and designated funds amounted to £3,488,809 (2022 £3,745,253). Tangible fixed assets amounted to £2,303,874 (2022 £1,978,637). Investments were £1,128,599 (2022 £1,310,138) and current asset investments were £620,104 (2022 £533,826).

As noted in the Balance Sheet and in note 13, the Charity's investment portfolio amounted to £1,128,599 (2022 £1,310,138). As explained above, the income from this portfolio is dedicated to meeting the Home's charitable objectives. Cash balances are lower at the year end than in recent years because most of the independent living accommodation has been "sold" on long leases rather than rented, however at the year end 2 are held for resale. Whether to "buy" or rent is a decision for the individual independent living resident. The Trustees are therefore committed to maintaining large cash balances in order to facilitate the management of the Charity's estate. The future expected cash flow is reviewed by the Trustees on a regular basis.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The Charity was founded by and operated under a Trust Deed dated 15 February 1943 until 16 March 2005, when a new Scheme approved by the Charity Commission, came into effect. This Scheme, is the Charity's present governing instrument.

Page 6

ST CHRISTOPHER'S HOME

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees

The Trustees comprise:

The names of those elected by the Parish representatives are shown on LEGAL AND ADMINISTRATION INFORMATION page. These Trustees are elected for a 3-year term and one third of them will retire at each Annual General Meeting.

On appointment, new Trustees are provided with guidance documentation from the Charity Commission, and are made as fully aware as possible of the Charity's activities and are encouraged to develop their contributions as Trustees in those areas to which their individual expertise and experience calls them.

Organisational structure

The Trustees meet regularly and are responsible for the strategic direction and policy of the Home. They specifically consider applications from prospective residents and matters concerning the wellbeing of the residents and staff. The Finance Manager, Residential Manager and the PA/Secretary to the Residential Manager also attend these meetings.

Responsibility for the day to day running of the Home rests with the Residential Manager and her management team. The Trustees are responsible for setting their pay, which is reviewed annually.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The Trustees have considered the main areas of risk which could affect the continuing operations of the Charity and have insurance policies in place to mitigate any damage such identified risks might cause.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

Page 7

ST CHRISTOPHER'S HOME

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They 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.

Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ST CHRISTOPHER'S HOME

Opinion

We have audited the financial statements of St Christopher's Home (the 'charity') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Page 9

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ST CHRISTOPHER'S HOME

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income, and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, sample testing on the posting of journals, reviewing accounting estimates for biases, performing analytical procedures to identify any unusual or unexpected relationships, testing of income cut-off and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 10

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ST CHRISTOPHER'S HOME

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Shaw Gibbs (Audit) Limited Chartered Certified Accountants Statutory Auditor Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ

Date: 30 October 2024

Page 11

ST CHRISTOPHER'S HOME

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Coach House and other properties
St Martins Court
Sinking Fund
Care Home
Investment income
3
Other income
Total
EXPENDITURE ON
Charitable activities
5
Care Home
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
13,446
42,602
31,891
-
2,587,155
73,819
3,721
2,752,634
2,971,082
25,347
(193,101)
4,132,560
3,939,459		 Restricted
funds
£
-
-
-
5,712
-
4,118
-
9,830
-
13,105
22,935
146,519
169,454		 2023
Total
funds
£
13,446
42,602
31,891
5,712
2,587,155
77,937
3,721
2,762,464
2,971,082
38,452
(170,166)
4,279,079
4,108,913		 2022
Total
funds
£
48,613
44,302
31,316
5,316
2,258,822
73,749
932
2,463,050
2,608,035
(168,237)
(313,222)
4,592,301
4,279,079

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 12

ST CHRISTOPHER'S HOME

BALANCE SHEET 31 DECEMBER 2023

Notes
FIXED ASSETS
Tangible assets
12
Investments
13
CURRENT ASSETS
Debtors
14
Investments
15
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
16
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
18
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
2,303,874
1,128,599
3,432,473
197,460
450,650
163,565
811,675
(304,689)
506,986
3,939,459
3,939,459		 Restricted
funds
£
-
-
-
-
169,454
-
169,454
-
169,454
169,454
169,454		 2023
Total
funds
£
2,303,874
1,128,599
3,432,473
197,460
620,104
163,565
981,129
(304,689)
676,440
4,108,913
4,108,913
3,939,459
169,454
4,108,913		 2022
Total
funds
£
1,978,637
1,310,138
3,288,775
180,949
533,826
628,910
1,343,685
(353,381)
990,304
4,279,079
4,279,079
4,132,560
146,519
4,279,079

The notes form part of these financial statements

Page 13

ST CHRISTOPHER'S HOME

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Finance costs paid
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Purchase of current asset investments
Sale of tangible fixed assets
Sale of fixed asset investments
Sale of investment property
Dividends received
Net cash (used in)/provided by investing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 2023
£
(327,785)
(1,997)
(329,782)
(347,213)
(147,003)
(39,147)
-
319,863
-
77,937
(135,563)
(465,345)
628,910
163,565		 2022
£
(95,131)
(1,813)
(96,944)
(284,500)
(178,636)
(36,952)
282,500
32,440
155,450
73,749
44,051
(52,893)
681,803
628,910

The notes form part of these financial statements

Page 14

ST CHRISTOPHER'S HOME

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement
of Financial Activities)
Adjustments for:
Depreciation charges
(Gain)/losses on investments
Finance costs
Dividends received
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Net cash used in operations		 2023
£
(170,166)
21,976
(38,452)
1,997
(77,937)
(16,511)
(48,692)
(327,785)		 2022
£
(313,222)
25,451
168,237
1,813
(73,749)
8,446
87,893
(95,131)

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank and in hand
Liquid resources
Deposits included in cash
Current asset investments
Total		 At 1/1/23
£
628,910
628,910
-
533,826
533,826
1,162,736		 Cash flow
£
(465,345)
(465,345)
-
86,278
86,278
(379,067)		 At 31/12/23
£
163,565
163,565
-
620,104
620,104
783,669

The notes form part of these financial statements

Page 15

ST CHRISTOPHER'S HOME NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The financial statements are prepared on a 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.

The financial statements are presented in sterling which is the functional currency of the Charity and rounded to the nearest £.

Critical accounting judgements and key sources of estimation uncertainty

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.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

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.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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ST CHRISTOPHER'S HOME NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES - continued

Tangible fixed assets Motor vehicles

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses, excluding freehold property which is accounted for at cost. The property value is not depreciated as the property is maintained to an acceptable standard, so as to hold its cost value. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The trustees are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The trustees consider that the individual carrying values of assets are supportable by their value in use.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

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ST CHRISTOPHER'S HOME

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

2.
DONATIONS AND LEGACIES
Chapel collections
Donations and gifts
Donations from fundraising
Grants
Grants received, included in the above, are as follows:
Covid funding
WNC Winter fuel incentive
3.
INVESTMENT INCOME
Income from listed investments
Income from unlisted investments
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Rents received
Coach House and other properties
Service charges
Coach House and other properties
Rents received
St Martins Court
Service charges
St Martins Court
Service charges
Sinking Fund
Tenants/contribution to
sinking fund
Care Home
Fees receivable
Care Home
Independent living admin
fees
Care Home		 2023
£
506
9,745
2,195
1,000
13,446
2023
£
-
1,000
1,000
2023
£
63,126
14,811
77,937
2023
£
13,896
28,706
8,160
23,731
5,712
18,623
2,442,141
126,391
2,667,360		 2022
£
346
59,236
545
(11,514)
48,613
2022
£
(11,514)
-
(11,514)
2022
£
59,434
14,315
73,749
2022
£
13,896
30,406
5,865
25,451
5,316
17,325
2,241,497
-
2,339,756

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ST CHRISTOPHER'S HOME

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

5.
CHARITABLE ACTIVITIES COSTS
Care Home
6.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Rates and water
Insurance
Light and heat
Telephone
General expenses
Training and other staff costs
Cleaning materials & contracts
Sinking fund contribution
Property improvements
Advertising & marketing
Garden and grounds expenses
Travelling inc motor expenses
Registration fee's
Advertising and recruitment
Recreational expenses
Provisions
Chapel expenses
Building and general maintenance
Depreciation
Interest payable and similar charges
7.
SUPPORT COSTS
Care Home		 Direct
Costs (see
note 6)
£
2,626,344
Management
£
225,294		 Support
costs (see
note 7)
£
344,738
2023
£
1,975,198
19,603
42,436
69,932
10,784
2,337
31,910
135,729
18,623
17,839
178
26,038
4,336
8,072
4,655
15,058
142,935
1,076
75,632
21,976
1,997
2,626,344
Governance
costs
£
119,444		 Totals
£
2,971,082		 Totals
£
2,971,082
2022
£
1,717,048
8,942
40,317
73,879
7,778
1,901
24,995
123,823
17,325
43,284
1,885
24,919
5,233
8,072
18,764
9,068
108,781
4,402
96,016
25,451
1,813
2,363,696
Totals
£
344,738

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ST CHRISTOPHER'S HOME

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

7. SUPPORT COSTS - continued

Support costs, included in the above, are as follows:

2023
Care Home
£
Wages
190,817
Social security
18,867
Pensions
8,187
Postage and stationery
7,423
Auditors' remuneration
8,400
Professional fees
111,044
344,738
8.
AUDITORS' REMUNERATION
2023
£
Fees payable to the charity's auditors for the audit of the charity's
financial statements
8,400		 2022
Total
activities
£
185,826
18,049
8,280
6,141
3,600
22,443
244,339
2022
£
3,600

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

10. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2023
£
2,014,090
141,052
37,927
2,193,069		 2022
£
1,772,301
125,060
31,842
1,929,203

The average monthly number of employees during the year was as follows:

Direct care & support
Administration
Voluntary workers and Trustees		 2023
92
9
14
115		 2022
81
8
14
103

No employees received emoluments in excess of £60,000.

Key management comprise of the home manager, deputy manager, estates manager and finance manager. Key management remuneration totalled £157,500 (2022: £149,960) for the year.

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ST CHRISTOPHER'S HOME

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
48,613
Charitable activities
Coach House and other properties
44,302
St Martins Court
31,316
Sinking Fund
-
Care Home
2,258,822
Investment income
69,769
Other income
932
Total
2,453,754
EXPENDITURE ON
Charitable activities
Care Home
2,608,035
Net gains/(losses) on investments
(150,506)
NET INCOME/(EXPENDITURE)
(304,787)
RECONCILIATION OF FUNDS
Total funds brought forward
4,437,347
TOTAL FUNDS CARRIED FORWARD
4,132,560		 Restricted
funds
£
-
-
-
5,316
-
3,980
-
9,296
-
(17,731)
(8,435)
154,954
146,519		 Total
funds
£
48,613
44,302
31,316
5,316
2,258,822
73,749
932
2,463,050
2,608,035
(168,237)
(313,222)
4,592,301
4,279,079

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ST CHRISTOPHER'S HOME

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

12. TANGIBLE FIXED ASSETS

COST
At 1 January 2023
Additions
At 31 December 2023
DEPRECIATION
At 1 January 2023
Charge for year
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022		 Freehold
property
£
1,878,861
336,000
2,214,861
-
-
-
2,214,861
1,878,861		 Fixtures
and
fittings
£
475,937
-
475,937
380,090
19,314
399,404
76,533
95,847		 Motor
vehicles
£
43,240
11,213
54,453
39,311
2,662
41,973
12,480
3,929		 Totals
£
2,398,038
347,213
2,745,251
419,401
21,976
441,377
2,303,874
1,978,637

Depreciation on freehold property is not charged within the accounts as the ongoing maintenance costs that are required to maintain the high standard of repair mean that the property does not actually depreciate in value. This is assessed each year by the Trustees.

13. FIXED ASSET INVESTMENTS

MARKET VALUE
At 1 January 2023
Additions
Disposals
Revaluations
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022		 Listed
investments
£
1,310,138
147,003
(319,862)
(8,680)
1,128,599
1,128,599
1,310,138

There were no investment assets outside the UK.

The historical cost of the listed investments at the year end is £1,051,748 (2022 £1,232,663).

Investments making up greater than 5% of the total portfolio at the year end include:

Trojan Investment Funds Trojan Global Income S Dis £58,452

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ST CHRISTOPHER'S HOME

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
Prepayments and accrued income
15.
CURRENT ASSET INVESTMENTS
Sinking Fund Investment		 2023
£
177,809
700
18,951
197,460
2023
£
620,104		 2022
£
164,671
150
16,128
180,949
2022
£
533,826

Analysis of Sinking Fund Investment within respective areas of the Charity:

St Christopher's Home
St Martins Court
Other Properties
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 2023
£
450,650
74,007
95,447
620,104
2023
£
53,546
31,295
31,813
188,035
304,689		 2022
£
387,307
61,614
84,905		 2022
£
387,307
61,614
84,905
533,826
2022
£
41,811
24,043
72,262
215,265
353,381

17. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years		 2023
£
846
2,327
3,173		 2022
£
-
-
-

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ST CHRISTOPHER'S HOME

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

18. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Sinking fund - main home
Restricted funds
Sinking fund - St Martins Court
Sinking fund - other properties
TOTAL FUNDS		 At 1/1/23
£
3,745,253
387,307
4,132,560
61,614
84,905
146,519
4,279,079		 Net
movement
in funds
£
(256,444)
63,343
(193,101)
12,393
10,542
22,935
(170,166)		 At
31/12/23
£
3,488,809
450,650
3,939,459
74,007
95,447
169,454
4,108,913

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Sinking fund - main home
Restricted funds
Sinking fund - St Martins Court
Sinking fund - other properties
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Sinking fund - St Martins Court
Sinking fund - other properties
TOTAL FUNDS		 Incoming
resources
£
2,723,318
29,316
2,752,634
5,007
4,823
9,830
2,762,464
At 1/1/22
£
4,437,347
86,862
68,092
154,954
4,592,301		 Resources
expended
£
(2,971,082)
-
(2,971,082)
-
-
-
(2,971,082)
Net
movement
in funds
£
(304,787)
(5,248)
(3,187)
(8,435)
(313,222)		 Gains and
losses
£
(8,680)
34,027
25,347
7,386
5,719
13,105
38,452
Transfers
between
funds
£
-
(20,000)
20,000
-
-		 Movement
in funds
£
(256,444)
63,343
(193,101)
12,393
10,542
22,935
(170,166)
At
31/12/22
£
4,132,560
61,614
84,905
146,519
4,279,079

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ST CHRISTOPHER'S HOME

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

18. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Sinking fund - St Martins Court
Sinking fund - other properties
TOTAL FUNDS		 Incoming
resources
£
2,453,754
4,745
4,551
9,296
2,463,050		 Resources
expended
£
(2,608,035)
-
-
-
(2,608,035)		 Gains and
losses
£
(150,506)
(9,993)
(7,738)
(17,731)
(168,237)		 Movement
in funds
£
(304,787)
(5,248)
(3,187)
(8,435)
(313,222)

The General Fund holds the reserves which provides the funding for all other activities which St Christopher's Home undertakes.

The Sinking Fund provides for the cost of future work in relation to dilapidations in the properties. The Sinking Fund is designated solely to St Christopher's Home.

The Sinking Funds provides for the cost of future work in relation to dilapidations in the properties. The Sinking Fund is split between St Martins Court and Other Properties.

19. EMPLOYEE BENEFIT OBLIGATIONS

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 £37,927 (2022 - £31,842).

20. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023, nor the year ended 31 December 2022.

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