REGISTERED CHARITY NUMBER: 203787 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR ST CHRISTOPHER'S HOME Shaw Gibbs (Audit) Limited Chartered Certified Accountants Statutory Auditor Eagle House 28 Billing Road Northampton Northamptonshire NN15AJ
ST CHRISTOPHER'S HOME CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Reference and Administratlve Details Report of the Trustees Report of the Independent Audltors 8 to 10 Stat8ment of Financial A¢tivlties 11 Balance Sheet 12 Cash Flow Ststement 13 otes to the Cash Flow Statement 14 Notes to the Flnancial Statements 15 to 25 Detailed Statement of Financlal Activities 26 to 27
ST CHRISTOPHER'S HOME REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024 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. Michael Clarke Mrs. Elizabeth Loe Mr. Martin Sharman Major Michael Crouch Mr. Timothy Dolan Resigned January 2025 Lord Bishop of Peterborough (President) PATRON MANAGER Miss S. Clarke PRINCIPAL ADDRESS Abington Park Crescent Northampton Northamptonshire NN3 3AD REGISTERED CHARITY NUMBER 203787 AUDITORS Shaw Gibbs (Audit) Limited Chartered Certified Accountants Statutory Auditor Eagle House 28 Billing Road Northampton Northamptonshire NN15AJ SOLICITORS SP Law Part of the EMW Family 8 Spencer Parade Northampton NN15AA Page 1
ST CHRISTOPHER'S HOME REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024 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 Activlty The ecclesiastical parishes of.. Area Abington Billing Boughton Dallington Duston Far Cotton Grange Park Hardingstone Kingsthorpe Moulton Northampton Church Sl Peter and Paul St Andrew and All Saints St John the Baptist St James St Luke and St Francis St Mary Collingtree, St Columba and Grange Park St Edmund st John Ihe Baptist, st David and Sl Mark St Peter and St Paul All Saints with St Katherine and St Peter Christ Church Emmanuel Holy Sepulchre with St Andrew 8nd St Lawrence st Alban the Martyr st Giles St Benedi St James st Matthew st Michael and All Angels with St Edmund Holy Trinity and St Paul St Augustine St John the Baptist St John the Baptist St Peter st George the Martyr Piddington with Horton Quinton and Preston Deanery Weston Favell Wootton Page 2
ST CHRISTOPHER'S HOME REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report with the financi81 statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. statement of Recommended Practice applicable to charities preparing Iheir accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} (effective 1 January 2019}. OBJECTIVES AND ACTIVITIES Objectives and alms 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. Christopherfs community and ils good neighl)ourly services. 54 en-suite rooms in the main Home for those requiring fully supported living. The Home's kitchen, laundry and communal areas, as well as the Home's chapels, are situated within the main Home. The Trustees, aim is to provide the best possible living environment for those who have chosen to come to live at St. Christophels. 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. Publlc benefit Vvhile the Charity charges fees for the services it provides, these are often less than those in the private sector. In addition, the Charity tries lo 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 reIpt of local authority funding which cover a proportion of the fees charged. If Ihere are no further contributions, the Trustees use the Charity's own resources., the cost of such support in 2024 was £91,544 (2023 £114,249). 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 nomial fees and Ihose 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 undertaklng fund raising the Charity has to protect vulnerable people and other members of the public from the following behaviours.. Unreasonable intrusion on a person's privacy. Unreasonable persistent approaches for the purpose of soliciting or otherwise procuring money or other property on behalf of the Charity., Placing undue pressure on a person to give money or other property. 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 2024 ACHIEVEMENT AND PERFORMANCE Charitable activities Sarah Clarke, Manager, wriles'.- During the past year we have continued to focus on developing and improving areas of Ihe Home for the benefit of the Residents. We saw the introduction of two new Activity coordinators in May on a job share basis, and 2024 has seen a much more varied and exciting programme of activity for residents and Independent Livers alike with a variety of outings to places of interest and lo enjoy shows. Residents enjoyed regular mini-bus trips, shopping excursions, and themed events like strawberries and cream teas on the lawn. Stephen and the Maintenance Team worked hard to upkeep the beautiful landscaped gardens, and walkways for lelsurely walks. A successful summer fete was organised by our new activity coordinators. Their hard work to enhance the fete and make it more appealing to people of all ages was demonslrated when they achieved record breaking funds for our resident's recreational activity fund pot. During February of 2024, 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 of maintenance works and schedules. We collaborated with the Local Authority contract monitoring officer and developed an action plan signing off the actions as improvements to the areas identrfied as they were made and evidenced. Leadership in Kitchen changed In M8y 2024, when Chris was appointed as the new Kftchen Manager. He has worked diligently to enhance the skills of the kitchen team and raise the quality of food provisions. Special food-themed ev&nts and tasters were organised in collaboration with the Activity Team, making meals more enjoyable and varied. While recruiting for care staff has been manageable, specialised skilled roles rem8in challenging to fill, often due to applicants lacking the necessary experience. The introduction of a new sickness pollcy improved altendance and reduced casual sickness within slaff teams. Additionally, staff received face-to-face training sessions to enhance their knowledge and skills, with many commencing RQF qualifications to further develop their expertise. Despite personal health challenges, Stephen Clamp and the wider Maintenance Team worked exceptionally hard throughout the year lo ensure the home was maintained and refreshed, with decoration efforts contributing to the home's aesthetic appeal. Lisa Dowdy played a crucial role in managing the room vacancies and ensuring new residents joined promptly. She also maintained a high occupancy rate throughout the year by utilising the Home's upstairs accommodation with re5Plte bookings. Lisa took on the responsibility of overseeing the granting and the surrender process for our Independent Living properties ensuring a fast turnaround. 2024 was marked as a year of continued growth and improvement, with the team focusing on areas for enhancement and committing to positive Changes to elevate the quality and well-being of all residents, both within the main home and the Independent Living propertles. Overall, 2024 we continued with our objective of growth and improvement. The Home's team of staff and Trustees has a clear focus on areas for improvement going fomards and, are committed to making positive changes to enhance the quality and wellbeing of all whorn reside al St Christopherfs inside the Home and within the Independent Living properties. Page 4
ST CHRISTOPHER'S HOME REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENT AND PERFORMANCE 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 in an excellent way, an arnenity 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 environment that meets the expectations of residents and relatives in the 21 st ntury, as rooms become vacant, it is the policy of the Home to modernise, improve, and redecorate to meet this standard. Externally we have been doing restoration on the main home stone external walls, rainwater goods and garden walls. More is planned for 2025 including chimneys and roofing. Due to the change in the bin store areas at the entrance we have provided 3 new paved car parking spaces at the rear. New entrance signs have been provided at the junction with Abington Park Crescent. A new hol water heating system was installed in the summer due to the failure of one of the systems in Cedars. This was paid for by insurers. Due to the efficiency of the new plate to plate exchangers in Cedars we have removed the two calorifiers from The Hollies cellar boiler room and replac8d it with a slngle plate to plate exchanger. These changes brlng a marked improvement in efficiency in the heating ofwater. A new walk in refrtgerator room has been re-installed in the main kitchen. Sadly, Stephen Clamp has not been able to attend at the Home full time due to his illness, he came when he could, but in the meantime, he did manage his team from home by liaising with them, Sarah, Lisa and Donald. Sadly, Stephen passed away in February 2025. May he rest in peace. The Home owes him a great deal. FINANCIAL REVIEW Financial position St Christophels is reliant on the incoming resources provided by the activities in the furtherance of the Charity's objectives. The continued reliants 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 reSoUrS for unrestricted funds before investment revaluations reflected a surplus of £94,614 12023 £218,448 deficit). The Charity received in the year £71,972 (2023 £77.9371 from its investment portfolio. This investment portfolio year end revaluation resulted in a surplus on unrestricted and restricted funds of £23,740 (2023 £38,452). Overall the net surplus for the year was £124,137 (2023 £170,166 deficit). 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 8 broadly neutral financial position. Investment policy and objectives There are no restrictions on the Charity's power to invesl however the Trustees have committed themselves to follow the ethical principles set oul in the policy statement produced by the Church of England Advisory Group. A copy of this policy statemenl is avallable on request from the Home. The Charity's investment managers take account ofthis statement in their management of the Charity's portfolio. These managers are tssked to produce a targeted level of income while trying lo grow the real value of the portfolio. Perfomance in the year was in line with the benchmarks agreed by the Trustees with the investment manager. Page 5
ST CHRISTOPHER'S HOME REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW 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 unforeseon repairs to buildings or equipment. The Trustees believe that it would be appropriate to hold free res8Nes of approximately £250,000 for these eventualities. The free reseTves held at the end of the year amounted to £768,305 {2023 £56,336). Resetves are high at the year end, and are being held due lo some improvement and repair work that will take place in 2025. After this, cash reserves will be returned to an appropriate level, or Ihe trustees will look at increasing the reserves policy, to meet the rising ongoing costs of the charity. ReseNes are monitored at Trustees, meeting on a regular basis. The total funds held al the end of the reporting period was £4,233,050 (2023 £4,108,913} of which are restricted funds £173,531 (2023 £169,454) which are not available for general purposes. Designated funds at the year end amounted to £488,144 (2023 £450,650). Total funds after making allowances for restricted and designated funds amounted to £3,571,375 (2023 £3,488,809). Tangible fixed assets amounted to £1,809,804 12023 £2,303,874). Investments were £995,266 (2023 £1,128,599) and current asset investments were £661,67512023 £820,104). As noted in the Balance Sheet and in note 13, the Charity's investment portfolio amounted to £995,266 (2023 £1,128,599). As explained above, the income from this portfolio is dedicated to meeting the Home's charitable objectives. Cash balances are higher at the year end than in recent years becaus8 most of the independent living accommodation has been bought" on long leases rather than rented, at the year end 1 is 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 ihe Charity Commission, came into effect. This Scheme, is the Charity's present governing instrument. Recruitment and appolntmont of new trustees The Trustees comprise.. - the Rural Dean of the Deanery of Northampton - two members elected by the House of Clergy of the Deanery of Northampton up to fourteen people elected by the represenlatives of Ihe Parishes covering the Charity's area of activity (see LEGAL AND ADMINISTRATIVE INFORMATION page) the Trustees may also co-opt up to six further people to act as Trustees a Chair is elected by the Trustees from among their number The names of those elected by the Parish represenlatives are shown on LEGAL AND ADMINISTRATION INFORMATION page. These Trustees are elected for a 3-year term and one third of them wlll retire at each Annual General Meeting. On appointmenl, new Trustees are provlded 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 contributlons as Trustees in those areas to which their individual expertlse and experience calls them. Page 6
ST CHRISTOPHER'S HOME REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Oryanisational 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 wellb8ing of the residents and staff. Th8 Finance Manager, Residential Manager and the PAJSecrelary 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 leam. 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 lo 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 lo 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 Accounling Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo 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 tru6 and fair view of the state of affairs of the charity and of the incoming resources and application of resoLJrces, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charity SORP., make judgements and eslimates that are reasonable and prudent., state whether applicable accounting standards have been followed, 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 charity will continue in business. The trustee8 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. Approved by order of the board of trustees on and signed on its behalf by.. D Loe - Trustee Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ST CHRISTOPHER'S HOME Opinion We have audSted the financial statements of St Christopherfs Home (the 'charity') for the year ended 31 December 2024 which comprlse the Statemenl of Financial Activlties, the Balance Sheet, the Cash Flow Statement and notes to the finanoial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in Iheir preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial stalemenls: glv@ a true and fair view of the state of the charity's affalrs as at 31 December 2024 and of its Incomlng resources and applicatlon of resources. for the year then ended. have been properly prepared In accordance wlth Unlted Kingdom Generally Accepted Accountlng Practlce,. and have been prepared in accordance with the requirements of the Charities Act 2011. 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, responslbilitles for the audit of the financial statements section of our report. We are independent of the charity in accordance with Ihe ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S EthScal Standard, and we have fulfllled our other @thical rasponsibilities In accordance with these requlrements. We belSeve that the audSt evldence we have obtained is sufficiont and appropriate to provide a basls for our oplnlon. Con¢luslons relating to gorng concern In auditing the financial statements, we have concluded that the trustees. use of the going concern basls of accounting in the preparation of the financial stalements is appropriate. Based on the work we have performed, we have not identified any material uncertalnties relallng to events or conditlons that, individually or collectively. may cast significant doubt on the charlty'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 Wlth respect to golng concern are described in the relevant sectlons of thls report. Other informatlon The trustees are responslble for the other Informatlon. The other Information comprises the informatlon included in the Annual Report, other than the flnanclal statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other informatlon and, except to the extent otheNlse explicitly stated in our report, we do not express any form of assurance concluslon thereon. In conneclion 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 th@ financial statem@nts or our knowledge obtalned In the audlt or otherwlse appears to be mat8rially misstated. If we Identify such material inconsistencies or apparent materlal mlsstatements, we are required to determlne 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 thls other Informatlon, we are required to report Ihat fact. We have nothing to report in this regard, Matters on which we are requlred to report by exceptlon We have nothing lo report in respect of the following matters where the Charities (Accounts and Report5) Regulations 2008 requires us to reporl to you if, in our opinion: the Information given in the Report of the Trustees is inconsistent in any material respecl with the financial statements. or sufficlent accounting records have not been kept. or the financial statements are not In agreement wlth the accountlng records and returns. or we have not received all the Informatlon and explanatlons we requlre for our audit. Page 8
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ST CHRISTOPHER'S HOME Responsibilities of trustees As explained more fully In the Siatement 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 Ihat are free from material misstalement, whether due to fraud or error. In preparing the financial statements, the Irustees are responsible for assessing the charlty's ability to contlnue as a going concern, discloslng. as applicable, matters related to going concern and uslng the going concern basls of accounting unless the trustees elther Intend to Ilquldate the charity or to cease operations. or have no realistic alternative but to do so. Our responsibllltles for the audlt of the financial statements We have been appolnted 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 freo from material mlsstatement, whether due to fraud or error, and to issue a Reporl 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 arlse from fraud or error and are considered material Sf, IndlvSdually or in the aggregate, they could reasonably b8 expoctod to influence th8 economic declslons of users taken on the basls of these financial statements. Tha extent to which our procedures are capable of detectlng Irregularllies, including fraud Is detalled below: We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determirlatlon of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, Uniled Kingdom Generally Accepted Accounling Practice and relevant Taxation legislation. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management and the understatement of r8v6nue. Our audit procedures to respond to thase risks included enquiries of management about their own identification and assessment of the rlsks of irrogularities, sample testing on the postlng of loumals. reviewing mggting minutes, regulatory correspondence and professional fees, detailed substantlve testlng on the completeness of Incom8. and reviewing accountlng estimates for biases. Owing to the inherent limitations of an audit, there Is an unavoidable risk that we may not have detected some materlal misstatements in the financial statements. even though we have properly planned and performed our audit in accordance with audltlng standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. These inherent limilations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid deteGtion, including deliberate failure to record transactlons, collusion or the provlslon of Intentional mlsrepresentations. A further descrfptlon of our responsibilltles for the audlt of the flnanclal statements is located on the Flnancial Reporting Councll's website at www.frc.org.uklauditorsresponsibilitles. Thls description forms part of our Report of the Independenl Auditors. Page 9
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ST CHRISTOPHER'S HOME Use of our report This report is made solely to the charily'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 responsSbility to anyone other than Ihe 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 Ceriified Accountants Statutory Auditor Eagle House 28 Billing Road Northampton Northamptonshire NN15AJ Date.. 30 May 2025 Page 10
ST CHRISTOPHER'S HOME STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 101,144 101,144 13,446 Charitable activltles Coach House and other properties St Martins Court Sinking Fund Care Home 49,428 28,443 49,428 28,443 6,402 2,920,727 42,602 31,891 5,712 2,587,155 6,402 2,920,727 Investment income Other income 67,671 87,508 4,301 71,972 87,506 77,937 3,721 Total 3,254 919 3,265,622 2 762,464 EXPENDITURE ON Charitable activities Care Home 3,160,305 4,920 3,165,225 2,971,082 Net gains on investments 20,366 3,374 23,740 38,452 NET INCOMEI(EXPENDITURE) Transfers between funds 114,980 5,080 9,157 5,080> 124,137 (170,166) 18 Net movement In funds 120,060 4,077 124,137 (170,166) RECONCILIATION OF FUNDS Total funds brought fotward 3,939,459 169,454 4,108,913 4,279,079 TOTAL FUNDS CARRIED FORWARD 4,059,519 173,531 4,233,050 4 108,913 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. The notes form part of these financial statements Page 11
ST CHRISTOPHER'S HOME BALANCE SHEET 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unrestricted Restricted funds funds Notes FIXED ASSETS Tangible assets Investments 12 1,809,804 13 995,266 1,809,804 995,268 2,303,874 1,128,599 2,805,070 2,805,070 3,432,473 CURRENT ASSETS Debtors Investments Cash at bank and in hand 14 15 210,407 488,144 864,295 210,407 661,675 197,460 620,104 163,565 173,531 1,562,846 173,531 1,736,377 981,129 CREDITORS Amounts falling due within one year 16 {308,397) 1308,397) (304,689) NET CURRENT ASSETS 1,254,449 173,531 1,427 980 TOTAL ASSETS LESS CURRENT LIABILITIES 4,059,519 173,531 4,233,050 4,108,913 NET ASSETS 4,059,519 173 531 4,233,050 4,108,913 FUNDS Unrestricted funds Restricled funds 18 4,059,519 173,531 3,939,459 169,454 TOTAL FUNDS 4 233 050 4,108,913 The financial statements were approved by the Board of Trustees and authorised for issue on and were slgned on its behalf by.. A Dunkle D Loe - Trustee The notes form part of these financial statements Page 12
ST CHRISTOPHER'S HOME CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations Finance costs paid 1,275 (327,785) 1,997 Net cash used in operating activities 329,782) Cash flows from Investing activitles Purchase of tangible fixed assets Purchase of fixed asset investments Purchase of current ass6t investments Sale of tangible fixed assets Sale of fixed asset investments Dividends recetved (347,213) (147,003} (39,147) (55,643) (50,971) 514,000 222,116 319,863 Net cash provided byl{used in> investing activities 701,474 135,563} Change in cash and cash equivalents In the reporting perlod Cash and cash equivalents at the beglnnlng of the reporting period 700,730 (465,345) 163,565 628 910 Cash and cash equivalents at the end of the reportlng period 864,295 163 565 The notes fom part of these financial statements Page 13
ST CHRISTOPHER'S HOME NOTESTO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 RECONCILIATION OF NET INCOMEI{EXPENDITURE> TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net incomel(expenditure} for the reporting period (as per the statement of Financial Actlvltiesl Adjustments for: Depreciation charges Gain on investmenls Profit on disposal of fixed assets Finance costs Dividends received Increase in debtors Increaselldecrease) in creditors 124,137 (170,166) 18,570 (23,7401 (38,500) 2,019 (71,972) (12,947) 21,976 (38,452) 1,997 (77,9371 {16,511) 48,6921 Net cash provided byl{used in) operatlons 1,275 327 7851 ANALYSIS OF CHANGES IN NET FUNDS At 111124 C8sh flow At 31112124 Net cash Cash at bank and in hand 163,565 700,730 864 295 163 565 700 730 864,295 Liquid resources Deposits included in cash Current asset investments 620,104 41,571 681,675 620,104 41,571 661675 Total 783,669 742,301 1525 970 The notes form part of these financial statements Page 14
ST CHRISTOPHER'S HOME NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of preparlng 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 1021 (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 Ihe revaluation of certaln assets. The financial statements are prepared on a going COnrn. Al the time of approving the finan¢ial statements, Ihe 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 statemenls. The financial statements are presented in sterling which is the functional currency of the Charity and rounded to the nearest £. Critical accountlng judgements and key sources of estlmatlon un¢ertalnty 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 estimales 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 entillement to the funds, it is probable Ihat 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 condilions require deferral of the 8mount. Income tax recoverable in relation to donations received under Gift Aid or cleeds 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 amounl is known, and receipt is expected. If the amount is not known, Ihe legacy is treated as a contingent asset. Exponditure Liabilities are recognised as expenditure as soon as there is a legal or conslructive 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 cosl 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 lrfe, Fixtures and fittlngs 20 % on reducing balance Page 15 continued...
ST CHRISTOPHER'S HOME NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES . continued Tangible fixed assets Motor vehicles 250/0 on reducing balance Fixed assets are stated at cost less accumulated depreciation and accumulated impaiment 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 a8 to hold its cost value. Vvhere parts of an item of property, plant and equipmenl have differenl useful lives, they are accounted for as separate items of property, plant and equipment. Depreciation methods, useful lives and residual values are reviewed al each balance sheet dale. 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. Taxatlon 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 slalements. Penslon costs and other post.retlrement 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 sheel comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and credilors 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 adminislralive expenses. Financial liabilities and equity instruments are classrfied according to the substance of the contractual arrangements entered into. An equity instrument Is any ¢ontract 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 Ios8es relating to financial liabilities are included in the profit and loss account. Finance costs are calculated $0 as to produce a constant rate of return on the outstanding liability. Page 16 continued...
ST CHRISTOPHER'S HOME NOTES TO THE FINANCIAL STATEMENTS - ¢ontlnued FOR THE YEAR ENDED 31 DECEMBER 2024 DONATIONS AND LEGACIES 2024 2023 Chapel collections Donations and gifts Donations from fundraising Grants 615 98,057 4,472 508 9,745 2,195 1,000 101,144 13,446 Grants received, included in the above, are as follows: 2024 2023 WNC Winter fuel incentive 1,000 INVESTMENT INCOME 2024 2023 Income from listed investm8nts Income from unlisted investments ,504 63,126 14,811 71,972 77,937 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Coach House and other properties Coach House and other properties Sl Martins Court St Martins Court Sinking Fund Rents reiVed Setvice charges Rents received servi charges Service Charges Tenantslcontribution to sinking fund Fees receivable Independent living admin fees 17,062 32,366 1,380 27,083 8,402 13,896 28,706 8,160 23,731 5,712 Care Home Care Home 18,003 2,902,724 18,623 2,442,141 Care Home 126,391 3,005,000 2 667,380 Page 17 continued...
ST CHRISTOPHER'S HOME NOTES TO THE FINANCIAL STATEMENTS . contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 CHARITABLE ACTIVITIES COSTS Direct Costs (see nole 6) Support costs (see note 7) Totals Care Home 2 813,361 351,864 3,165,225 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff Costs Rates and water Insurance Light and heat Telephone General expenses Training and other staff oosts Cleaning materials & contracts Sinking fund contribution Property improvements Advertising & marketing Garden and grounds expenses Travelling inc molor expenses Registration fee's Advertising and recruitment Recreational expenses Provisions Chapel expenses Building and general maintenance Depreciation Interest payable and similar Charges 2,087,565 23,454 51,244 81,813 10,988 1,122 25,904 136,015 18,003 79,706 1,712 28,855 7,671 8,071 4,738 17,649 137,724 1,935 68,603 18,570 1,975,198 19,603 42,436 69,932 10,784 2,337 31,910 135,729 18,623 17,839 178 28,038 4,336 8,072 4,655 15,058 142,935 1,076 75,632 21,976 1,997 2,813 361 2 626 344 SUPPORT COSTS Governance costs Management Totals Care Home 296,142 351,864 Page 18 continued,..
ST CHRISTOPHER'S HOME NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 SUPPORT COSTS - continued Support ¢ost8, included in the above, are as follows.. 2024 2023 Total activities Care Home Wages Social security Pensions Postage and stationery Auditors, remuneration Professional fees 251,289 25,768 9,375 9,712 18,642 190,817 18,867 8,187 7,423 8,400 351,864 344,738 AUDITORS, REMUNERATION 2024 2023 Fees payable to the charity's auditors for the audit of the charity's financial statements 18.642 8,400 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. 10. STAFF COSTS 2024 2023 Wages and salaries Social securily costs Olher pension costs 2,157,965 169,922 46,108 2.014,090 141,052 37,927 2,373,995 2,193,069 The average monthly number of employees during the year was as follows.. 2024 103 2023 92 Direct care & support Administralion Voluntary workers and Trustees 14 14 125 115 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 £191,142 (2023.. £157,500) for the year. Page 19 continued...
ST CHRISTOPHER'S HOME NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 31 DECEMBER 2024 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Reslricted funds funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 13,446 13,446 Charitable activities Coach House and other properties St Martins Court Sinking Fund Care Home 42,602 31,891 42,602 31,891 5,712 2,587,155 5,712 2,587,155 Investment income Other income 73,819 4,118 77,937 Total 2,752,634 9,830 2,762,464 EXPENDITURE ON Charltable actlvltles Care Home 2 971082 2 971082 Net gains on investments 25,347 13,105 38,452 NET INCOMEI{EXPENDITURE) {193,101) 22,935 {170,166) RECONCILIATION OF FUNDS Total funds brought forward 4,132,560 146,519 4,279,079 TOTAL FUNDS CARRIED FORWARD 3,939 459 169 454 4,108,913 Page 20 continued...
ST CHRISTOPHER'S HOME NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 12. TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Motor vehicles Totals COST At 1 January 2024 Disposals 2,214,881 475 500) 475,937 54,453 2,745,251 475,500) At 31 December 2024 1,739,361 475,937 54,453 2.269,751 DEPRECIATION At 1 January 2024 Charge for year 399,404 15,450 41,973 3,120 441,377 18,570 At 31 December 2024 414 854 45,093 459,947 NET BOOKVALUE At 31 December 2024 1,739,361 61,083 1,809,804 At 31 December 2023 2,214 861 2 303,874 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 Listed investments MARKETVALUE At 1 January 2024 Additions Disposals Revaluations 1,128,599 55,643 (201,019) 12,043 At 31 December 2024 995 266 NET BOOK VALUE At 31 December 2024 995 268 At 31 December 2023 1,128,599 There were no investment assets outside the UK. The historical cost of the listed investments at the year end is £954,258 (2023 £1,051,748). Investments making up greater than 5 % of the total portfolio at the year end include.. Trojan Investment Funds Trojan Global Income S Dis £61,645 Baillle Gifford UK Global Equity £50,539 Page 21 continued...
ST CHRISTOPHER'S HOME NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Other debtors Prepayments and accrued income 186,602 177,809 700 18,951 23,805 210,407 197460 15. CURRENT ASSET INVESTMENTS 2024 2023 Sinking Fund Investment 661,675 620,104 Analysis of Sinking Fund Investment within respective areas of the Charity.. 2024 2023 St Christopher's Home st Martins Court Other Properties 488,144 71,402 102 129 450,650 74,007 95,447 661,675 620,104 Current asset investmenls are made up of.. 2024 2023 Listed investments Amounts held in cash waiting to be invested 639,697 21,978 450,650 74,007 661675 620,104 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Social security and other taxes Other creditors Accruals and deferred income 30,554 32,301 32,556 212,988 53,546 31,295 31,813 188,035 308,397 304,689 Page 22 continued...
ST CHRISTOPHER'S HOME NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 17. LEASING AGREEMENTS Minimum lease paymenls under non-cancellable operating leases fall due as follows.. 2024 2023 Within one year Between one and five years 846 1,481 2,327 2,327 3,173 18. MOVEMENT IN FUNDS Net movement in funds Transfer8 between funds At 31112124 At 111124 Unrestrlcted funds General fund Sinking fund - main home 3,488,809 450,650 77,486 5,080 3,571,375 488 144 3,939,459 114,980 5,080 4,059,519 Restricted funds Sinking fund - St Martins Court Sinking fund - olher properties 74,007 2,475 (5,080) 71,402 102,129 169,454 9,157 5,080 173,531 TOTAL FUNDS 4 108,913 124 137 4,233,050 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and Movement losses n funds Unrestricted funds General fund Sinking fund - main home 3,225,748 (3,160,305) 12,043 8,323 77,486 37,494 3,254,919 (3,160,305) 20,366 114,980 Restricted funds Sinking fund - St Martins Court Sinking fund - other properties 5,424 5,279 (4,920) 1,971 1,403 2,475 6,682 10,703 4,920 3,374 9,157 TOTAL FUNDS 3,285,822 3,165,225) 23,740 124,137 Page 23 continued...
ST CHRISTOPHER'S HOME NOTES TO THE FINANGIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 18. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds At 31112123 At 111123 Unrestrlcted funds General fund Sinking fund - main home 3,745,253 387,307 {256,444> 63,343 3,488,809 450 650 4,132,560 (193,101) 3,939,459 Restrl¢ted funds Sinking fund - St Martins Court Sinking fund other properties 61,614 84,905 12,393 10,542 74,007 95,447 146,519 22,935 TOTAL FUNDS 4,279,079 170,166 4 108913 Comparalive nel movement in fLsnds, included in the above are as follows.. Incorning resources Resources expended Gains and Movement losses in funds Unrestricted funds General fund Sinking fund - main home 2,723,318 29,316 {2,971,082) {8,680} 34,027 (256,444) 63,343 2,752,634 (2,971,082) 25,347 (193,101) Restrl¢ted funds Sinking fund - St Martins Court Sinking fund - other properties 5,007 7,386 5,719 12,393 10,542 13,105 22,935 TOTAL FUNDS 2,762,464 2,971,082} 38,452 170,166) 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 Christophels Home. The Sinking Funds provides for the cost of future work in rel8tlon to dllapldations in the propertles. The Sinking Fund is split between St Martlns Court and Other Properties. Transfers between funds During the year amounts have been transferred from the Sinking fund to the general fund, for property repairs and maintenance spent in previous years, Ihat were incorrectly allocated to the general fund, instead of the sinking fund. Page 24 continued...
ST CHRISTOPHER'S HOME NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 19. EMPLOYEE BENEFIT OBLIGATIONS Defined contribution schemes The Charity operates a d&fined 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 £46,108 (2023 - £37,927). 20. RELATED PARTY DISCLOSURES During the year Cobley Desborough, a company in which Trustee Ashley Dunkley is a Partner, provided accountancy services to the charity amounting to £5,760 {2023.' £8,520). There were no further related party transactions for the year ended 31 December 2024, nor the year ended 31 December 2023. Page 25