Charity registration number.. 204859 RIDGEGATE HOME ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
RIDGEGATE HOME REFERENCE AND ADMINISTrATIVE INFORMATION Tru5tee$ R Coker L Gent J Yogarajah A Khan Senior mana8•ment team S Tobin. Registered home rnana8er A Ballantyne A Gates Charlty numbgr 21Y1859 Prlnclpal addr•ss 88 Doods Road Reigate Surrev RH20NR
RIDGEGATE HOME CONTENTS Trwt¢e< report Independent audltorf5 ieijort statement of flnandal actmtles Statement of financlal posltlon io ststement ofcash I15 li Notes tothèflnandal st*emènts 12-20
RIDGEGATE HOME TRUStEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report and financlal ststements of Ridgegate Home 1.the charitfl for the year ended 31 March 2024. In preparing the financial statements the trustees have adopted the provisions of Accounting and Reporting by Charitie5'. Statement of Recommended Practice applicableto charttie5 and have prepared the accounts in accordance with the Flnanclal Reportingstandard applicable in the UKand Republic of Ireland. Whatwe alrn to do: our oblecthe$ ab)d artfvlYe5 The primèry objective of the charity under the Trust Deed is to provide care and relief of the elderty byway of a residentlal care home or hgmes. There have been no material chary5 to this objective. SlBnffiTrt acli¥ities To help achieve its prlmary oblectlve, the charlty offers resldents Secu and comfortable surrounding5 wlthln which they are free to tead an independent life as much as they wlsh. To encourage resldents to get the most enjoyment from their day-to-day Ilfe at the home the charity offers daily entertainment and exercise attlvltles as both mental and physical stimulation. The drity relies on Income from fees and charges to defray Its operatlng costs, and, In setting the level of fees, works Close with local authorities to make sure 8ood quality care is offered at an affordable price, whetherforfull-time care. short terni daycare, respite care and end of life care. It can be difficu10 provide a measure as to whetherthe performance ofthe charity is meeting its oblectlves, however, the trustees are encouraged by the frequent positlve feedback received from residents and their families, as well as local doctors, communlty nurses and CQC inspections. Publlc benefft In exerclsing their powers and duties the trustees have complied with their duty to have due regard to the Charlty Commission guidance on public benefit and speciflc guidan for fee-charging charltles. Structure. 8ovemante and management GovemlnB docurnent and strntture Ridgegate Home Is an unlncorpprated body constituted under the charitys governing trust deed dated 29 july 1946. as amended by the Replacement Trusts on 29 January 2024, and Is registered with the Charity Commisslon, number 204859. On 19 December 2023 the title deeds to the charity property were transferred by Order to the Official Custodian for Charltles In trust for the charity. Or8anlsatlon The charity is overseen by a board of trustees, who hold offlce for 3 years and who can present themselves for re*lectlon. with new trustees bein8 appointed following invitation and mentorin8 frorn the exlstlng trustee5. The board meets foimalty every two mtsrtths, to discuss a full range of matters pertaining to finance. fabric of the estate antl the administration of the charlty, wlth maiieis arising Detween meeting5 generally dealt with by the Chairperson. wlth due delegated authority. who report5 back at the following meeting. Day-to-day operatlonal control is vested in the registered home manager.
RIDGEGATE HOME TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Key managemenl personnel pay The trustees together with the registered home manager, deputy manager and charity administrator tomprlse the key management personnel of the charlty. Kèy managèment remuneratlon is set by the trustee5 and reviewed on an annual basis. Rlsk statement The trustee5 have a duty to identify and miew the risks to whlch the charity 15 èxposed and to ensure appropriate controls are in pla to provlde reasonable assurance a8alnst fraud and error. The trustees considerthatthe major risks to whith tharity is exposed fall into four maln areas described as follows-. Ensuring high levels of occupancr the management team work hard to ensure a high level of resident satlsfartion, leading to 8reater referrals, as well ès increasing marketing suth as through the website. Ensuring consistent and appropr4ate staffing levels- as with other care homes, staffin8 can be a challenge wlth competition to recruit care staff from other sectors. Given staffing is a signfficant portlon of the Home's costs, fluetuations can also create financlal uncertainty forthe charity. The management team have worked hard to reduce relian¢e on agency stsff including by provKling sponsorship of overseas staff and worklng with new recruitment agencles that have taken time to understand the chariws needs. The management team additionallystrive to provide a warm, supportive and welcoming environment for stsff, ensuring the tharlty 15 an attractive Pla to work. Navigati the increasing levels of leglslation and regulatlons in the care home 5ector- the management team have sought to put in place a robwt trainlng programme to ensure Staff are up to date with the latest requirements as well as seekin8 recruitment of trustees forthe chèrity with expertise in this particular area to provlde oversight. Malntenance of the charity property- the age of the building means that there are contlnual rrtaintenance and upgrade requiiements. The charity embarked on a Significant refurbishment programme in 2023 to modern15e rooms and common areas of the bullding. M3intenance work is also undertaken on a continual basls to ensure the upkeep of thls work arKI to keep ahead of further mainten3nce needs. Based on the above, the trustees are happy that there arè sufficient procedures, poli¢ies and systems In place to manage and mitigate identifftd risks. AthlÈvements and ptrfornian Chayltable actlvltles The charlty provides 24-hour residential care for older people, including all aspects of care from nutrltlon. hydration, personal eare. cleaning. and laijndry to a strong and varied actfvitles program. The establishment has 22 rooms, 19 with ensulte facilitie5 as well a5 communal loun8e5 and administratlon offices.
RIDGEGATE HOME TRUSTEES, REPORT FOR TrIE YEAR ENDED 31 MARCH 2024 The charity contlnues to be rated as"Good" by the Care Qualtty Commission ICQQ. In accordance with Its oblectNes, the charity constsntly strlves to provide residents wf(h the opportunity to live in comfortable surroundings, in a relaxed and secure family-like environment. while Providing the degree of care neces53ry to enhance each resident's quallty of life. The charltvs philosophy is based on offering the core values of prlvary, comfort. dignity. independence and Choi and rlghts. It is monitored by the Rty5tration Officefor SUrV County Couricll, and a atdeal of time is 5penton health and safetyissue5 to comply with statutory and other legal requlrements. With the age demographlc of the home. inevltèbly there will be occupancy fluctuatlons from tlme to time.However, due to the effi)rts of the senior management team near full occupanry was malntained duringthe year under revlew. As a way of sayingthank you to all staff, families and volunteers the charlty was able to host Its annual summer and Christmas 8et-togethers. which were very well attended and reived. Havin8 undertaken a slgnlflcant PTO8rarn of refurbishment of the residents, rooms and communal area5, focus duringthe yearwas on maintaining the upkeep of the property, with the continued goal of ensuring the home is a modern and comfortable establishment. As with previous years recrultlnE staff caTh be a challenge, in Ilne with other local care homes. However, the senior management team have bÈen successful in 50urcing and recruitingstaff at all levels, which is reducing overall stsffing cD5ts and relian on the use of agency stsff. Fundrdising actlvrlies The charlty has not ¢arrled out any fundraisinB events durtn8 the year. FLrture plan5 The prioritie5 and efforts of the trustees and senlor mana8ement team are always to malntain the"Good" CQC rating by providing a safe and welcomin8 living enwronment for the resldents, and secure working nditlons for stsff. Thi5 will 80 toward5 ensuring the full occupancy of the home. On-going and regular upgrading of the facllltles avallable in both resldents, rooms and 8eneral rooms will ensure comfort for residents and compllance with regulations. There is great emphasis plad on the vitsl i55ue of staff training. by whlch all stsff are encouraged to develop their skills ar qualificatlons. which also help5 tr) protect the reputstion ofthe home. The trustees would like to thank all those many indNiduals who have stspported the tharity overthe past vear. Flnanclal revlew The full financial aCtItI¢5 for the year under review are shown on pages 9 to 20. The charivs Incoming resources from its thèritable activities were In surplu5 to outgoing resources £149,02312023.' deficit of £123,447). Incomtng resources included local government grants of £5,50012023'. £6,781). Together with an unreallsed105s of £4.57712023.. £1273) in investment funds, an overall surplus of £144,446 wa5 achleved for the year12023: £130. 320 overall deflcitl. A5 a retsulkn tt•tél fund5 at 31 Mar¢h 2024 were £744. OJ912023.. £599.5631.
RIDGEGATE HOME TRUSTEEY REPORT FOR THE YEAR ENDED 31 MARCH 2024 Going coKern Each year, the tru5tee5 must stste whether or not the annual accounts have been drawn up on a going concem basis Isee the accounting policy note 1.2 on pa8e 121. Goln8 coftcern is the assthnption that the charity has the resources (financial or otherwTrsel needed to continue operating for the foreseeable future and, in particular. for at least 12 months from the date of approval of these financial ststements by the trustees. Having reviewed the flnancial forecasts for the next year, the trustees ale of the opinion that the charity's assets are Suffictt0 meet Its current obligations. and the assets and re5eNes held wlll allow the charlty to contlnue with its objectives. Imie51m•nt polcv The trustee5 review their policy for Investi funds from time to time and remaln of the view that general unit trusts designed for the charity settof remaln the mc5t appropriate investments. The investments are acquired in ¥cordancewlththe powers of thetrustees as contslned in thetru5t deed. The trustees CLbrrently do nottske soaal, environmentsl or ethical considerations Into account in thelr investr)ent pollcv. Trustee5 The trustees and 8overnoT5 who seNed durlng the year were: Ms R Coker Ms LGent Ms L Munro Mr N Leggett Mr T Rice Mrs S Brankin Mr5 S Rice Mrs STobin Mrs A Ballantyne Mrs A Gates Mrs J Aumary Mrj Brankin Appointed l March 2024 Appointed l March 2024 Appointed l March 2024 Appointed l March 2024 Resigned l March 2024 Reslgned 13 September 2024 Resigned l March 2024 Resigned 30 January 2024 Resi8ned 30 January 2024 Resigned 30 January 2024 Resigned 30 January 2024 Reslgned 30 January 2024 The trustee5' report was approved by the Board on .. l.L January 2025 Trustee: J. YogaralaN Chairperson
REPORTOF THE INDEPENDETrif AUDITORS TO THE TRUSTEES OF RIDGEGATE HOME Oplnlon We have audited the financial ststements of Ridgegate Homes Ithe'chariv) for the year ended 31 March 2024 whlch comprise the Statement of Flnanclal ActIviti, the Balance Sheet, the Cash Flow Ststement and note5 to the finantlal statements. including a summary of significant accounting policie5. The financial ieporting framework that has been applied in their preparation is appllcable law and Unlted Kingdom Accounting Standards Iunited Kin8dom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 The Financial fieporting Standard appllcable In the UK anil Republic of Ireland,. In our opinion the financFal statements= give a true and fair vlew of the state of the Char'S affairs as at 31 March 2024 and of its incornin8 resources and applicatlon of resourtrs, for the year then Ènded; have been properly prepared in accordance wrth .United Klngdom Generally Actepted Accounting Practice. including Financial Reporting Standard 102 'The Financi31 Reportin8 Standard appllcable In the UK and Republlc of Ireland,; and have been prepared in accordance with the requirements of the Charities Act 2011. Basls for opinion We Condted our audit in accordance with Intemational Stsndards on Auditlng IUKI {ISAs IUK)) and appllcable law. Our re5pon5ibilities under those Standards a further described in the Auditors, respon51blllties for the audlt of the flnancial ststements sectlon of Quf report. We are independent of the charity in accordancewith the ethical requirements that are relevant to our audit of the flnancial statements In the UK, includin8 the FRC'S Ethical Standard, and we have fulfilled our other ethrcal responsibilitie5 in ccordance wlth these requirements. We believethat the audit eviden we have obtalned Is sufficient and approprlate to provide a basis for our opinion. Concluslons relatlngtO8olng ccerft In auditing the financlal ststements, we have concluded that the tru5tee5' use of the goln8 conrn basis of accounting in the prÉparatlon of the financial statements is approprlatè. Based on the work we have performed. we have not identlfled any materlal UnrtaIntleS relating to event5 or condit10115 that, individually or collectivefy. may cast 5igfbiflcant doubt on the charity's abllity tts ctsntlnue as a 8olng conr for a period of at least twelve months from when the financial statements are aUtrIsed for issue. OUT reSpolbIlItIeS and the responslbilities of the tru5tee5 With res¢1 to golng conrn are described in the relevant sections ol thls report.
REPORT OF THE INDEPENDENT AUDITORS TO THE TRU5TEE5 OF RIDGEGATE HOME Other Infoftnall The tTUStees aTe responsible for the other information. The other information cofflprises the Information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our fjplnlon on the financial statements doe5 not coverthe other Infom)ation and. except to the extent otherwise explicitty stated in our reporL we do not express any form of assurance COU$l0n thereon. In connectlon wfjth our audit of the financial ststements. our responsibllity Is fo read the other tnformatlon and, in doing so. consider whether the other Infomation is materialty inconsistent wlth the flnanclal Statements or our knowled8e obtsined In the audit or otherwise appears to be materlalty mlsstated. If we identify such material incon51Stencie5 or apparent material mlsstatements, we are required to determine whether thls gives rise to a material mi5Statement in the flnancial statements themselves. If. based on the work we have perfomed, we conclude that there 15 a material misstatement of thts other informatlon, we are required to report thatfatt. We have nothing to report In this regard. Matlers on whlth wè are requlred to r•port * •xc•ptlon We have nothing to rew)rt in respect of the following matters where thè Charities (Accounts and Reports) Re8ulatiorb5 2008 requires us to report to you if, in our opinion.. the informatlon given in the Report of the Trustees is Inconsistent In any material respect with the ffinancial statements- or sufficient accounting records have not been kept or the flnanclal 51atements are not In agreementwith the accountin8 recgrds and retums; or we have not received all the infom)atlDn and explanations we require for our audlt. Resp$&bilitIeS of trus As explained more fvlly In the Statement of Trustees, RÈsponslbllltles, the trustees are responsible for the preparation of the financlal statements which give a true and fair view. and for such internal control as the trustee5 determlne Is necessaryto enable the preparatlgn of financial Statements thatare free from material misstatemenL whether due to fraud or error. In preparing the finanaal 5tstements, the trustees are responsible for assessing the charity's ability to tontinue as 3 goin8 concem, disclosing. as applicable, matter5 related to 8olng ¢oncern and using the golng conrn basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no alIStIC alternative but to do so.
REPORTOF THE INDEPENDENT AUDITORS TO THE TRusfEES OF RIDGEGATE HOME Our re5ponslbilltles for the audll of the Ilnandal statements We have been appointed as auditor5 under Section 144 of the Charities Act 2011 and report In accordance with the Att and relevant regul8t40ns made or having effectthereunder. Our oble¢tlves are to obtsin reasonable assurance about whether the financial statemènts as a whole are free from material misstatement, whether to fraud or error. and to issue a Report of the Independent Auditors that includes ouropinion. Reasonable assuran is a high level of assurance, but Is not a guarantee that an avdlt conducted in accordance with ISAS IUKI will always detect a material misststement when it exists. Mi5Statements arise from fraud or error and are consldered material if, individually or in the aggregate. they could reonablY be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedu$ are Capable of detectlng Irregula¥ltles, Includin8 fraud is detailed below.. - We identifled the laws and regulations appllcable to the tharity through dis¢ussions wittrt the trustees and from our knowled8e and experience of the charity secto - We focused on speclNc laws and reBulation5 which we considered may have a dlrect materlal effect on the financial statements or the operatKins of the charity, including the Charities Act 2011. taxatlon leglslatlon and data protection, anti-bribery, employment and health al safety legislation. Additionalfy, we assessed the susceptibillty of the charity's financial statement5 to material misststemenL including obtainlng and understanding how fraud might occur bv= making enquires with trustees as to where they considered there was suseeptibility to fraud. their knowledge of actual. 5USf)ected and alleged fraud.. and con5iderin8 the intsrnal controls in place to mltigate risks of fraud and non-compliance wtth law5 and egulations. Afurtherdesuiptlon of our responslbilltles forthe auditof thefinanclal statements is located onthe Financial Reportlng Council's website at www.frc.org.uVauditorsresponsibilitie5. This descrlptlon fomis part of our Report ofthe Independent Auditor5.
REPORT OF THE INDEPENDENT AUDITORS TO THE TRusfEES OF RIDGEGATE HOME Use of our report This report Is made solely to the charitys trustees. as a body, in accordan wlth Part 4 of the Charitles (Accounts and Reports) Regulatfjons 2008. Our auditwork has been underraken so that we mi8ht5tate to the charity's trustees those matter5 we are required t0 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 re5ptsftsibility to anyone other than the charity and the tharittys trustees as a body, for our audit work, for thls report, or for the oplnlons we have fomied. GBJ LLP Statutory Audltor Sterlkng House 27 Hatchlands Road Redhill SUrV RHI 6RW Date-..Ih... January 2025
RIDGEGATE HOME srATEMEKf OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUP FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted funds Total 2024 Totsl 2023 Income from: Donations and legacie5 Re5identlal care thar8e5 Investments 9.820 1,110.052 14.199 9,820 1.110,052 14,199 10.781 788,473 12.037 Totsl income 1,134.071 1,134.071 811,291 EXPendire on: Residential care costs Governance 961, 823 23, 225 961. 823 23, 225 920.208 14,530 Totsl eMpendltur• 985, 048 985, 048 934,738 Net losses on Investments 14.5771 14,5771 112,8731 Net IKome l•xpendlture} 144.446 144,446 1136,3201 Net movement In fund5 Total funds broughtforward 144, 446 599.563 144, 446 599.563 1136.3201 735,883 Total fub)ds tanled fobward 744, Cx)9 744. 009 599,563 The statement of financial activities includes all gains and losses recognlsed In the year. All Income and expenditure derive from contlnuing artivttles. The notes on pages 12 to 20 fom) an integral part of these financial statements.
RIDGEGATE HOME STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024 2024 2023 FW assets Tan8ible assets Investments io li 293,944 214.949 279.280 219.526 508,893 498,806 Current assets Debtois Cash at bank and in hand 12 9.620 358.336 19,755 168,742 367,956 188.497 CredFtors'. amounts faMlhvJ due wlthln oneyear 13 1132, 8401 187.7401 Net curr¢nt assets 235, 116 ICX),757 Totsl a55ets less current Ilabllltie5 744, (J)9 599,563 Net assets 744, 009 599,563 Thè funds of thÈ tharlty Unrestritted fvnds 744, ts)9 599.563 Totsl charlty funds 744. CQ9 599,563 The finandal ststements on pages 2 to 20 were approved by the trustees on..... and si8ned on their behaw bv: January 2025 R Coker, Trustee The on pages 12 to 20 fom ah inte8ral partof the* financial statements.
RIDGEGATE HOME STATEMENf OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from operatin8 a¢tl¥ltlAs Net cash (used in) provided bv operatlng activities 14 201.794 1112,1961 Cash flow5from InvÈstlnB actmtles Dividends and interestfrom Investments Purthases of flxed assets 14,199 12,037 126,3991 Change in c•sh and eash equlvalents 189,594 lIC.159) Cash and tash equwalents atthe beginnin8 of the year 168.742 268.901 Cash and cash equlvalent5 at the ' end ofthe yèar 358,336 168,742 Répresented by Cash at bank and in hand 358.336 168.742 All of the cash flow5 are derfved from continuing actMties. The notes on pages 12 to 20 fomi an integral part of these flnanclal Statements.
RIDGEGATE HOME NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAft ENDED 31 MARCH 2024 Attountlng policies Charity Information Rid8egate Home is an unincorporated thèrity. 1.1 Basls of preparlwdthe financial statements The finantlal statements of the charity, which i5 a publSc benefit entity under FRS 102, have been prepared under the historical tost convention. as modifted by the revaluation of inveslments lo fair value. and In accordance with the Statement of Recommended Practite.. Accounting and Reporting by Charities preparing their accounts in accordance wlth the Flnancial Reportingstandard applicable the UK 3nd Republic of Ireland IFRS 1021 issued in odober2019, the Flnancial Reporting Standard applicable in the United Klngdom and Republic of Ireland IFRS 1021, the Charities Act 2011 and UK genèrally accepted pradice as it applie5 from l January 2019. 1.2 Goingconcern At the time of approving the financial statements. the trustee5 have a reasonable expectatlon that the charity has adequate resources to continue in operatlonal existence now and for the medium term. and that its financlal position remalns satisfactory. The trustees continue to adopt the going conrn basls of accounting in preparin8 the financial ststemeftts. 1.3 Fund a¢countlnK The reserve funds held by the tharlty are unrestricted funds. whlch are available for use at the dlscretion of the trustees in furtherance tsl their charltable objectives unles5 the funds have been tlesignated for ottrler purposes.
RIDGEGATE HOME NOTESTO THE FINANCIAL STATEMEPs ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 The prin¢lpal accounting policies adopted, judgements and key sources of estimatlon uncertainty in the preparation of the financial Statements are as follows.. 1.4 Incoming re50ur Income is recognised when the charity is legally entitled to it after any perfomiance £onditions have been met, the amounts can be measured relièbty. and it l5 probable that Income wlll be recelved. Cash donations are recognised on receipt. Other donations a recognised once the charity has been notified of the donation, unless performance Conditions require deferral of the amount. Income tax recoverable in relation to donatlons received under Glft Aid or e$ of covenant is recogni5ed at the time of the donatlon. Legacies are recognlsed on reipt or otherwlse If the charity has been notified of an impending d¢stribution. the amount 15 known. and reIpt Is expected. If the amount not known, the legaty is treated a5 3 contingent asset. Grants are recognised when the charity has an entitlement to the funds and anyconditions linked to the grants have been met. Where performan condttions are attsched to the grant and are yet lo be met, the Income is recognised as a Ilabillty and included as deferred income to be released. Residential are accounted for in the period In whlch they are recelvable. Intome from investments is Tecognised when the charty becomes entltled to rètÈjPL L5 Resource5 empended Resources expended are recognised in the perlod In which they are inCUrd and include attrtbutable VAT which cannot be recovered. Resour5 expended are allocated to the particular actlvlty where each cost relates dlrectly to that actlty. GovernarKe costs intlude expenditure on compllance with constitutional and statutory requirements. 1.6 Tanglblefixed assets rèngible fixed assets that cost more than £l,¢J)O wrch a useful lrfe of more than 5 years are Inltiallv MeaSud at cost znd subsequently measured at cost or valuatlon. net of depreciation and any Impalrment losse5. There is no provision for depreciation of the freehold buildin8s, as thelr resldual value5 are well in ex$$ of thetr carrying amounts. It is the charitys pra¢tice to malntaln the bulldings in a continual state of sound repair. No depreciation Is thaed on freehold land. Depreciatlon is provided as follows to write off the cost or valuation of assets less their residual values over their expe¢ted useful Ilves: Land and buildin8S Ftures. ffttin65 and equipment 3%- 5% 5travdht Ilne b&fjs on Internal lrfiand carpark 5%- 20% straight Ilne basls
RIDGEGATE HOME NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 1.7 Impairment of fixed assets At each reporting end date, thetrustees revlewthe carryingamounts of tanglble assets to detemiine whether there is any indlcatlon that those a55ets have suffered an impairment loss. ff any such Indlcation eKiSts, the recoverable amount of the asset is estimated and comparpd to the carrying amount. Where the carrying amount exceeds its recoverable amount an impairment Ioss IS recognlsed ln the Ststernent of Financlal Activitie5. 1.8 Inveslmert5 Fixed asset investments whith consist of listed investments are a fom of financial instrument and are Initially measured at transaction price excluding transaction costs. and are subsequent measured at fair value at each reporting date. Investment gains and losses. whether reali5ed or unrealised, are combined and shown in the heading 'Net gain5 Ilossesl on Investments, in the Statement of Finandal Activitie5. 1.9 Debtors Debtors are recognised at the settlement afnount. Prepayments are valued atthe amount prepald. 1.10 Cash and cash •qualents Cash and cash equivalents snclude cash in hand. deposlts held at call wlth Lkinks, other short-term Ilquid inVtrnents with original maturities of three months or less, and bank overdrafts. 8ank overdrafts are shown within borrowings in curTent liabilles. 1.11 Hnancial Instwments The charity only has financl31 assets and fln3nclal Ilabllities of a kind that qualify as basic financlal instruments. Basic nal31 instruments are Inltlalty recggnlsed at transactlon value and subsequendy measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.12 Llabilrtle5 and provlslons abilities are recognised when the tharity has an obligation at the end of its financial year as a result of a past event. It is probable that a transfer of economic benefits will be required in settlement, and the amount of the settlement can be estimaied reliably. Liabilities are recognised at the amo4Jntthatthecharityanticipates itwill payto sèttlethe debt or the amount ithas rÈceNed as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the oblig3tion. 14
RIDGEGATE HOME NOTES TO THE FINANCIAL sfATEMENTS ICONTINUEDI FOR ThE YEAR ENDED 31 MARCH 2024 1.13 Employee benellts The cost of any unused holiday entltlement Is cOgnised in the pefbd In whlch the empbyee's services are received. Termination beneflts are reco8ni5ed immediatety as an expense when the tharity Is demonstrably ornmitted to termlnate the employment of an employee or to provide termiThation beneflts. Retlrement ben The charity operate5 a defined contiibution pension scheme. The assets of the scheme are held separatelyfrom th95eof the charity Inan Independently administered fund. The charity contribute5 a specllled percentsge of payroll costs to the scheme to fund employee retirement benefits. The penslon charge represents the amounts payable by the £harity to the fund In respect of the year. The onty obligation of the ¢harltywlth respectto the scheme ts to makethe specified contributions. CritKal account1 estimatss and jud8èments In the application of the CrIty'S accountin8 poliae5,thetrustees are required to makeludgements, estlmates and assumptions about the carrying amount of assets and liabilities that are not readi apparent from other sour. The estlmate5 and associated assumptions are based on histor81 experience and other fartor5 that are consldered to be relevant. Actual results may differ from these e5Umate> Donatlons and legaoes 2024 20Z3 Donation5 and glfts Government grants 4.320 5.500 4.000 6,781 9,820 10,781 The grants tovered W0fOrCe recrultment. retention and training. The grants were received from Hampshlre County Council, Surrey Care Association and the Department for Education on the basi5 that the charity met the required quallfylng criteria, and no further conditions were attached. Is
RIDGEGATE HOME NOTESTO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 RCH 2024 Intome from investments 2023 Dividends from ILsted investments and bank Interest 14,199 12,037 Analysls ol resldentlal carè costs 2024 2023 Unrèstrlcted furxts D1ct costs Employment costs INote 71 Agency stsff Establlshment costs Other cost5 Deprèclation of flxed assets Impairment losses Loss on disposal of fixed assets 85, 992 533. S69 216.G38 104.4 9,481 11,528 79,763 475.434 211.317 99,203 10.265 10,880 33.346 207 961. 823 920,208 AnatyS of gov•mance costs 2024 2023 Legal and profe55i0nal costs Accountancy Independent examlnation fee Audit fee Bank Charges 13,318 3.672 10,522 3,072 300 5,700 535 636 23. 225 14,530 Is
RIDGEGATE HOME NOTES TO THE FINANCIAL STATEMEf+lTS (CONTINUED) FOR ThE YEAR ENDED 31 MARCH 2024 Anatysls of staff Costs and benefits 2024 2023 The ag8regate payroll costs were a5 follows: Salaries and wa8e5 Social securlty costs Employerfs penslon contributions Trainlng and other staff expenses 482. 582 32,558 7,308 11,121 435,195 29.762 7.204 3.273 533. 569 475,434 Key management personnèl INluded in salarle5 and employerfs pension tontrlbutlon5'. Remuneration and benefits 100,493 l(X),172 The trusteestogetherwjth the registered home manager, deputymanager and charity administrator comprise the key management personnel of the charfty. None of the trustse5, nor any person connected with them, reNe remuneration or expenses. No employee re¢eived remuneration In exces5 Of £60,00012023.. nonel- Average number of stsff durlryJ the year. Residentlal Ca stsff Management and adminlstration 23 22 26 25 17
RIDGEGATE HOME NOTES TO THE FINANCIAL sfATEMENT5 ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Net Ios5e5 on investments 2024 2023 Losses on rev3luat*Jn of Investments 145771 112,8731 Taxatlon Rldgegate Home is a gIstered charity and under Part 10 of the Income Tax Act 21Y)7 and section 256 of the Taxation of Chargeable Gain5 Act 1992 is exemptfromtsx on its income and capital gains pplied to its charftable purposes. Tan8lblefix¢d ass•ts Freehold nd and bulldin Flxturns. ffttlr¥s and equlpment Totsl At l April 2023 Additions Olsposa15 408,480 91,906 26,400 11.0251 500,386 26.400 11.0251 At 31 March 2024 408,480 117,281 525.761 Depraciatlott and Impaim)enQ At l April 2023 Depreciation charged in the year Eliminated on disposals 159.320 3,636 61,786 7,892 18171 221,106 11,528 18171 At 31 March 2024 162.956 68.861 231,817 Carry1 amount At 31 March 2024 245.524 48,420 293,944 At 31 Marth 2023 249,160 30.120 279,280 Included In the cost of larKI and buildings is fehOld land of £9.54512023.. £9.5451 whlch is not depreciated. Although no professional valuatlon has been carried out in cent yeais. the trustee5 are of the opinion that the freehold land and bulldlngs have a Maet value signlficantty higher than their tsrrying amount.
RIDGEGATE HOME NOTES TO THE FINANCIAL STATEMENT5 ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 11 Flxed asset investments thted Investments Cost orvaluatlon At l Aprll 2023 RevJluatlon 219,526 14,5771 At 31 rch 2024 214.949 carryi amount At 31 March 2024 214,949 At31 Marth 2023 219,526 The listed iAvestments are administered and valued annually by J M Flnn & Co, a member of the London Stock Exchange, uslng market prlces. The htstorical c05t of the Investsnents at 31 March 2024 was £46,73412023.. £46.7341. Debtors 2023 Residential care charges Other debtors Prepayment and accrued income 2.731 2,972 3,917 13,998 1,981 3,776 9,620 19,755 19
RIDGEGATE HOME NOTES TO THE FINANCIAL sfATEMENTS IcoTrmNUEDI FOR THE YEAR ENDED 31 MARCH 2024 13 Crethtoys: amounts fallin¥ due wlthln oneyear 2024 2023 Re51dential care costs Resldential care ¢harges Other taxatlon and Social 5ecurlty other credltors Accruals Deferred income 20.892 27,275 9,OS7 2.232 57, 581 15,803 27.800 6.737 1,451 33,362 18,390 132, 840 87.740 Accruals represents stsff costs, agency fees, utilities. audit and accountancy fees. Deferred ineome represents residential charges reNed in advan. 14 Reconclllatlon of net Income to n•t cash flow from operatlng actmtl 2024 ' 2023 Net Income lexpenditurel forthe year as per the statement of Flnanclal ActivlUe5 Adjustments for.. Dividends and interèst from Investments Fairvalue losses Igainsl on Investments Depreciaii¢n charges and impalment losses Decrease lincreasel in debtors Increase Idecreasel in tredf(ors 144. 446 1136,3201 114.1991 4,577 11,735 10,135 45,IC¥) 112,0371 12.873 44.226 111.4211 19.S171 Net cash provided by (used In) Operat1 actl¥ities 201,794 1112.1961 20