Charity ￿gISt￿tiOn number.. 205695
Susan Day Residential Home
Annual Report and Financial Statements
for the Year Ended 31 March 2024
WESTCOTTS
CMARTERFD AC¢OiINTANTS
4 8USINE55 AOVISEf¢5

Susan Day Resldential Home
Contsnts (contwnued)
Reference and Adminlstrative Detai18
Twstegs. Report
2to9
Independent Auditor8, Report
10t013
Statement of Financial AGllvhies
14
Balance Sheet
15
Cash Flow Statement
16
Notes to the FinanGtal Statements
171027

Susan Day Residential Homo
Reference and Adminlstratlve Detalls
Twslees..
J Donovan
M G Thomas
G A Hllls
A Thomas4tafford
S D Roles
P Jaggers
E A Cooper
Charlty Reglstratlon Number
20S695
Prlnclpal Offlce
South Lodg8
Runnaol¢ave Road
Ilfracombe
Devon
EX34 8AQ
Weslcotts ISW) LLP
Chartered Accountsnts
47 Boutport Street
Bamslaple
Devon
EX31 1SQ
Lloyds Bank PIC
Bamslaple
17 Cross Slregt
Bamslaplo
EX31 1BE
Auditor
Bankers
Page 1

Susan Day Resldential Home
Trustees. Report
The trustees present tre annual report t￿ether ¥￿th the fin8nci81 ststements and auditors, report of
the charity for the year ended 31 Marth 2024.
Structure. govemance and management
Administrative detalls
The charity is a registered charity number 205695. Its prlnclpal and business address is South Lodge.
Runnacleave Rtsad, Ilfracombg, Devon, EX34 8AQ.
Govemanco and Internal ¢ontrol
The Home was estsblished by a Trust Deed dated 31 Juty 1947. Clause 2 of the Tru81 Deed was
altered by a scheme agreed by the Charity Commisslon for England and Wa18s on the 23 October
2013. On the 4 April 2018 the Charity Commission agreed a ftjrther schame to alter daus8 2 of the
Trust Deed which has widened the area from which we are able to take residents. Ils charitsble
objects, powers and means of govemance a￿ as laid down in its Constituts'on, which was adopted on
2 September 1998 and revised in May 2018. Trustees are appointed at the Annual General Meetr'ng
held in July each yoar.
The trustees moet quarterly (January, April, July and October) to discuss and revlew the charitys
buslness, both from an operational 8nd a strategic persp￿tIVa. If natsssary addilional m••tings arg
scheduled.
The day-to-day operations are managed by the Home's Registered Manager Mrs.Donna Miller who
reports lo the IrusleÈ5 on a regular basis. An inductlon process is in place for all new trustees.
Employees arg given continuing training lo ensure they afe aware of all matters relating lo the charity
inGluding existing regulation8 and facilities available lo assist them in CaTrying out their duues
responsibly.
Rlsk mhlgatlon
The trustees have 8 detalled Flsk Assessment and Mitlgatlon policy in pla¢9 which is revlewed in
January each year or at such lime it is felt there has been a change in the percelved risk due to
internal or extemal events.
The percelved rlsks are detailed below and have been assessed in accordance w4th the followng
grades..
Low Likelihots
Low Likelihood
HSgh Severity of Impact
High Likelihood
High Severty of Impact
Low Severity of Impact
111.. High Likelihood
Low Severity of Impact
Pem•nent or temporary loss of key staff
The Reglstered Manager is supported by a deputy manager and three full-tirne duty managers who
cover the daily shtfts and supervise the care assistants. In addition two of the care assistants are fully
Iralned deputise for the duty manager8. More details are located within the Susan Day Business
Continuity Plan
Risk Ass•s$m8nt: I
Page 2

Susan Day Residential Home
Trustees. Report (contlnuad)
Slructure> gov•rnanco and managemont (continued)
Decrease In number of resldents wlth consequent reduction in incom
The Home would need to lose seven residents pernianenlly (and not Tepla¢e them in tr*@
shortlmedium temi) before being able to cut stBff nurnbers. Such a loss invofving Say five residents
would have litde impact on running c051s 88 the stsff numbers would ￿MaIn the same, bul Income
would be down by £19,300 (5 x £3,860) per rnonth. The home has sufficient cash reserv8s lo sustain
such a drop In Income bul if prolonged, further resldent losses could bring thg number to seven or
more, leading to the Qption of stsff cuts as rgferrgd lo above.
Risk Assgssm8nt: 11,
S•rlous damage to the property caused by flr&, severe weather etc.
Dlsaster plan for residents In place - short tem resldents would be moved to hotels; the homes safe
house is the Carlton Hotel,. longer term there would be cEose liaison wth CQC and Devon County
Councll for new short tem temporary or long-tem placements of our current residents. The home is
insured for all risks induding Goronavirus outbreaks and terrorism.
Rlsk a$ses$m•nt11.
Serfous Illness Jmongst res5dents of epldeml¢ proportlons
Residents would be confined to their rooms and visitors would not be allowed. In th8 ev8nt of a severe
8pidemic requiTing quarantine, residents would likely be moved to 8 hospital or barrier nursed. The
CQC would be informed, and thg home would work with Public Health England.
Risk Assessment: 11.
Power outag• leading to loss of heat. Ilght and other ￿l11t1•S
The Home has an oil-fired generator that can run for 2 d8yS Wlthout purchasing more oil. Qil can be
purchased from local petrol stations and even in the ease of snow l flooding we believe additional
supplies could be obtained. The home has detailed within Its Business Continuity Plan an outline of
help that can be sourGed in such 8xlr8me weather conditions. The Wal8r Company would be
expected lo respond to loss of water by uslng bowsers etc. bul the Ios8 of the gas supply would affect
the availability of h¢ating and hot water, possibly leading to the noed to T￿lOGate residents.
Risk Assessment: 11.
Loss of l.T. capablllty and phone contact
Able lo operate for a w88k or so without l.T. dats is backed-up on a memory stick and coultl be
accessed al an altemalive srte. Mobile phones are available in case of need.
Rlsk Assessment: 111.
Envlronmental rfsk- pollutlon, waste hazard et¢.
Water pollution would be dealt wi(h by the Water Company. Smoke and drain pollution would require
spe¢ialisl attention as would food and clinical waste In the event of industrial actlon affecting
colleotion. Rlsk A¥*￿¥ment.. 11
Accountinglfraud rl$k
Insured other than for those instaTrces caused by negligence. Hon Treasurer has an independent
overview of finances and provides a written report to Trustees each month highlighung increases and
docreas85 in cash flow. Risk Assessmenl,. l.
Page 3

Susan Day Residential Home
Trustees. Report (contlnued
Publ1¢ bgnofit
When plannlng its activities for the year the trust8BS have considered the Charlty Commission's
guidance on publ5¢ benefit and the sp•cific gUld5n￿ as it r&lat85 to charities providing slmilar
activities to those of the Home.
The Home Is prepared to subsidise the lop-up element of the fees for up to twelve residents who are
funded by Soci81 Services, thus no longer requiring the difference between the amount paid by Social
Seryice8 and the full fee charyed by the Home ID be met by those residents themselves or by
members of their families. We currenuy have eight social service funded residents and the subsidies
for the ye8r ended 31 March 2C)25 will be £12,000. During tho financial year ended 31st March 2024
no subsldles were required.
Additionally, the trust8es can fund one place at any one time for a prospe￿1Ve resident who has not
qualified for financial support from Social se￿ICe5 and who is unable to pay the fees. The financial
81 of both these subsidies is charged lo the Home's reserves.
Structure. govemane8 and manag•mont
The Home's activiti'es continue to fall within th& overall definltion of 'charitable purpose,. ASI residenls
enjoy equal benefit, iffespective of whether they pay feos or are 8ss8ssed by Social Services as
having a need for resid8nti81 care a measur8 of financial support. Anyono Jiving in the Gatchmenl
area and who is eligible by way of need can be considered for a place at the Home. Fees charged to
resid8nls are datemiined by the level of care r6quired.
The Home is essentially self-funding through fees and payments from Social Services. It r8c6ives little
by way of donations 8nd legades are extremely rare. The proceeds of fundraisin9 activrtles go into an
amenlties fund for the beneflt of all resldents.
The Homè and the residents also benefit from the dose involvement of the trustees in the Home's
aclivities. The Board of TnJstee3, all of whom are vDlunteers. compri588 individuals who bring a bro8d
range of professional skills lo the Hom8 and provide their services without any form of payrnenl.
Obj•ctives and aGtlvities
Charitabl¢ gbleGts
The charfws objects are defined in the goveming document as=.
The eslablishmenl and maintenance of a reslderttial home for olderfy in need in the areas of
Ilfracombe, Br8unlon, Barnstaple and lh8 surroundSng dlstrfcts. provided preference is given to those
residing in the former Urban Dislrfcl of Ilfracombe.
The Home
The Home is a non-profit maklng orgBnisation and uses any surplus funds for the benefit of the
residents. Details of these are shown in the financial statements and supporting notes. The Home is
regularty inspected by the Health and Safety Officer, the Fire Officer and the Care Quality
Commission ICQC). Their reports continue to reflect the high standards provided and the work of
dedicated officers and staff.
Page 4

Susan Day Residential Home
Trustees. Report (continued)
The resldents
The Home lost 15 residents durlng the year 11 died in the home, 2 died in hospital and 2 rnoved to
altemalive accomrnodation. Although most of our reslden15' end of life plans ask that they end their
d8ys in the Home this ts not alweys possible. During the period Isl Aprll to the 30 June 2024, we 178ve
lost a further two residents. One died in the home and the other moved to a specialist dementia home.
A number of the residents had only been with us for a short lime and were end of Ilfe when they came
into the home.
DLsring the yeer there was 970k occup8ncy, which equates to on8 empty bed each week. The budg8t
is PT8p8red on the assumption of two empty beds. In the past il has been hard to fill beds but th
management team have worked hard in promoting the home. Through positive posts on our open
Facebook pagè, word of mouth and dèveloping a strong relationship with local social carè assèssors
the home has been operating dose lo full occupancy and w8 now have a healthy waiting list.
Eight residents are Currendy funded by Social Ser￿￿5. In the year lo 31 March 2024, they were ful
funded.
In a number of cases, we have been unable to meot the needs of social seNice referrals due to
nursing or specialised dementia care being requlred.
Th8 home is always giving r￿dentS a choice of acbvities fhat mobvate them, and that offer the
chance to learn new skills and increase independence which helps people to slay well and feel
satisfied wlh life.
Meaningful, person-cenlered aclivilies are built around our resldents, this then enslfres engagement,
stimulation and benefits to their mentsl and physical health.
There is a comprghgnsivg activitigs programme for residents which includ8s ex&rcis8 and mind
activities tailore(I to group or individual needs.
The home now provides a health and wellbeing group for our residents which has proven to reduce
the falls wfthln the elderly, resulting in less hospital admissions and better quality of lrfe.
The hair and beauty salon continues to be very popular ￿th the residents.
We work closely wlth the Ilfracombe comrnunlty minibus 5etvice who provide tre home with transport
for fortnightly trips out inlo the community, where we will vis51 areas meaningful to the residents. Our
residents work closely wlh the managernent team and activities coordinator in planning activities and
is a regular discussion item at resident's meetings. In the main hallway of the home we have a wee￿Y
actwilies planner. minutes of the res5denls' meetings and other items of Interest.
Resid&nts' families have acces5 to a private Facebook page which highlights the various aclNities
which al80 indude vlshing entertainers and themed buffets nights.
Residents. families are encouraged to loln our monthly residents, rneetings.
A comprehgnsive pr￿adMiSsiOn procedur8 is in ￿aCe for residents which includes a detsiled care
plan which id8nlifi8s individual needs. The ManageT and Deputy Manager aro fully committed and
focused on the meet and greet of new residents lo reassure, relax and pul any feats behind them as
this can be a very dtfficult transillon.
The care klan5 are continually updated and reviewed on a monthly basis or eadier rf health n￿dS
thange.
Page 5

Susan Day Residential Home
Trustees. Report (contlnued)
For several years. a rellgious serylce covering 811 denomlnaUons has been held each week on
Tuesday moming wtth Holy Communion once a rnonth. These seryices have always been well
attended and appreualed by the residents. The seNic88 had lo be placed on hold during the
pandemic, however monthly Holy Communion has now restarted.
On the 1st July 2024 our residents were split 28 ladles and 4 genuemen with our youngest resldent
being 83 an¢J our oldest resident 102. The average age of our residents is 87 years.
Achievemonts and performance
The staff
The Susan Day staff are Working well. They are embracing th8 changes which have been
implgmentgd within the home and are working more eff8cliv81y.
Staffing levels have been m8lnt8lned and have been invaluable not only for the care that our resldents
recelve, but also for the staff and thelr wellbeing and abillty to be able to provlde a quality servi￿.
Susan Day hav8 introduced a Health and Well-being 8UPPOrt group for SL￿. This involves mental
health support, adwce and guidan￿. health and fitness advice, healthy snacks, fresh cold water and
filne5s groups. Fostering employe8 wellbeing 1$ good for people and the organization. Promoting
wellbeing can help prevent stress and create positive working enmronments.
Non managerial staff are pald a minimum of £11.67 per hour leffectlve 1st April 20241 which exceeds
the natlonal Ilwng wage of £11.44. This conllnues to assist the home in being able to fill lob vacancies.
An ongoing training program is in place for all mgmb¢r5 of staff. We recently upgraded our online
training to unlimited training access, making more of our courses more pgrson centered and tsllored
around our residènts, changing health needs. We have recently train?d the management team to
becorne In-house trainers for mandatory courses. This enables the home to run safely and effectivety,
especially when 8mploylng new staff.
The management team are Iralned to an asse5sDr'$ level regardlng the correct adminislralion of
m8dicalion. The knowledge can be filtered throughout the care team so the administration of
rnedicalion can have a more person-centèrgd 8pproach.
The home continues to offer new staff the opportunlly to complete their NVQ qualifications when their
probation period Is completed. Al present we have 1 member of staff dolng NVQ level 5, and 3 staff
doing NVQ level 3. We continue lo encourage stsff to develop their skill set. There are now 4 trained
senior staff, 2 of whom are trained as relief duty managers.
Since May 2023 the homg has implemented s8veral Champion Courses. The following champion
COUTses, Medication, Oral Hygiene. Safeguording, Infection Control, End of Lrfe and Nutrition &
Hydration have bèèn offered to all staff and outside professlonals. Champions must value providlng
high quality care and ensure that care never falls below this standard. They have a responsibility to
Identify gaps and inefflciencies in the way the home operates. and must be confident in their ideas
and prepared lo speak out. All Champions will meel and hold quarterly meetlngs lo discuss any
concerns In that area. The Nutrition and Hydratlon Champion wlll also undertaken monthly dlnlng
experience audits.
Nine19en of our staff are m8mbers of a stskeholder pension scheme held Wbth Rea88ure to whlch Ihe
home is contn'buting 30/¢ of salary per annum and each member of staff a minimum of 4Yo. A further
eighteen members of staff are enroll8d in a p8rision scheme held with NEST where the home is
contributing 3Vlo per annum and each member of staff a minimum of 5QA.
Page 6

Susan Day Residential Home
Trustoes. Report (continued)
Inspoctlons
Devon and Cornwall Fire and Rescue undertook an Inspection in October 2022. The home was
compliant in all areas, although the inspection highlighted several securfty recommend8tlons, which
have been addressed. Our fire rtsk 8sse$sment Is reviewed every 6 Months. The Home h8s regular
environmentsl health kitchen inst￿ctiOnS and is rated 5 stars.
A new robust 8uditing system has now been put into place on our Care Control system, covering all
areas from cieanlng Schedules, gardens & maintenance lo residents dining experience.
Our latest Care Quallly Commisslon Inspection was in February 2019 wlth the home re￿IvIng an
overall rating of good. A number of remote assessments have been carrled out since, the last of which
was In June 2023. On Information avallable lo CQC and a conversation wth the Registered Manger
no 8vid8nce was found to suggest that CQC need to carry out a further inspection or reassess their
ra￿ng.
The home has re¢entSy changed the way the Trustees undertaken thelr Rule 26 audit. This has now
become tailored around the CQC five Quality Statements. Over the year all ffve areas wll be covered
by the TnJ6tees. Bnd this will help to ensure that the home is compliant in all araas.
Developments
Repalrs and renewals, malnlenanGe and gardenlng are 1)ngolng, and expendllure lotaled £86,873
12023 £94,948) during the year against a budget of £78,500. Further irnprovements and upgradlng will
be achieved within the annual budget in futur& years and we will contsnue to replace essential
equlpment and purchase nursing beds Snd hoists as needed.
The exterior of the home is Gurrentty boing repainted.
We feel that our home has a frSendly, homely atmosphere and is maintained to a high standard with all
the relevant inspecllons and maintenance checks being undertaken in a timety manner.
Flnanclal revlew
Annual outturn
The Charitys net incoming resources for the year was £46,507 12023 incoming £9811- Oetslls of the
financial outtum are shown on page 14 and In the notes lo the accounts on pages 17 to 27.
The main variances In income and expenditure were.. -
Resident5 feos £1,291,719 agalnst budgeted £1,242,586 a posftlve varianc• of £49,133.
In view of the number of deaths during the year this wa5 a very satisfactory outcome.
Repair8 maintenance and g8rdenlng £86.873 agaln8t budgeted £78.500 variance +£8.373.
Please see cornments under developments.
Provlslons £84,466 against budgeted £69,000 + £1 5,466 which reflects the significant increas& in
food costs during the period,
Gas £17,085 agalnst budgeted £25.920 variance . £8.835. A 5 year flxed contract commenced in
August 2021 and whilst therè was a uplfft to reflect the increase In wholesale prfces 11 has protected
us and wlll protect us going forward from further increases until the 311812026.
Page 7

Susan Day R05idential Home
Trustees. Report (contlnued)
ResoNes
Thp Balanc8 Shaat gs gt 31 March 2024 shows unrostrict8d reservg fund8 of £782,677 (2023..
£736,131). This figure is represented by £376,843 in a desSgnaled Property Reserve (comprised of
the bocA( value of the residential home property). £7,233 in a designated Amen￿85 Reserve
Irepresentlng funds held lo provide amenlties to the residents during the following twelve months and
b8yond), £250,000 in a conlingeney fund and £148,601 in Ihe unrestricted general fund. The
contsngency fund is lo be used for any unloreseen emergencies which may arise, mainly in respect of
Incorne, staffing costs or premises costs.
In the ye8r ended 31 Mar¢h 2020 £100,000 was transferred from the eontingency fvnd to the
unrestrioted general which had redU￿d considerably over the previous Ihree years due to
expenditure exceeding income. With a more stable financial position during the last three years the
general fund has Increased considerably, and the trustees have Iransf8rred £100.000 to the
contingency to restore the balance to ils prevlous level.
The tnjslees believe this lo be good governance. In particular consldering the needs of the resldents
who are beneficiaries of the charity.
The purpose of th8 unrestricted gener81 reserv8 fund119Yo of total r&servesl is to provide for material
capitsl 8xpendilure on kne property. any unfores88n decline in income or material increase in
operating costs and the subsidi8s funded from the General Reserye by way of transfer to covor the
top ups and bursary as described in the Public Benefit section above.
Fixed Asset8
The trustees, policy to capltalise items costing more than £50.000. Other items are regarded a5
revenue expendlture and are dlrecl charilablo expenditure on the SOFA.
Flnancial manag•m•nt
The tnjslees review up lo date flnancial data at each of their quarterly meetings when they consider
all items of materfal operalonal costs which have been incurred as well as proposed capital
expenditure. There is an annual budget meeting at which the trustees agree income and expenditure
forecasts for thè comlng year.
The financlal year commenclng 1 st April 2024 has stsrted pasrtively wth income £17.416 over budget
at the end of quarter one.
Funding
The prinapal funding source is income from the residents and from Sodal Services in th05e In5tsnces
where residents are unable to pay for themselves. In addition, the home receives inleie8t on ils cash
deposits and occasional donations and legacles.
Plan$ for future pgrlods
One of the Trustees, key objectives is lo maint8in the Home to a high standard for the resbdents to
enjoy and therefore further Investment wlll be made as requirad.
Events after the ¢nd Of tho roportlng perlod
Ther8 are no events after the reporting date to disclose.
Page 8

Susan Day Residential Home
Trustees, Report (continued)
Statement of Trustees. Responslblllties
The trustees are responsible for preparing the trustees, report and the finanual statements in
ac¢ordanca with th8 United Klngdom Accounting Standard5 {United Klngdom G&n8rally Acc8plod
Accounting Pradcel and applicabl8 law and regulations.
The law applicable to charities requires the trustees to prepare financial slat8ments for each financial
year which give a trua and fair view of the stsle of affairs of the charity and of the incoming resources
and applicalon of resources of the charity for that perfod. In preparing thes8 financial statements. the
trust8es are reouir8d lo..
select suitable accounting policies and then apply them consistently.,
observe the methods and PTinclples in the Charldes SORP;
make judgements and estimates that are reasonable and prudent-
slate whether applicable accounting standards have b88n fd5owed. Subject to any m8teri81
departures dlsclosed and explalned in the financial ststements- and
prepare the finanaal statements on the going concern basis unless it 15 inappropriate to presume
that the charlty ￿11 contlnue in business.
The Érustees are responsible for keeping proper accounting records that disclose with reasonable
accurary al gny time th8 fjnancial posibon of the ch8rSty and &n2bie them to ensure that the finanu31
statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations
2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the
assets of the charity and hence for tsklng reasonable steps for the prevention and detecuon of fraud
and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial
infomialion indudgd on the charitable companls website. Legislalion governing the preparatson and
dis5eminallon of financlal 5tstemen15 may drffer from legislation in other jurisdictions.
Disclosure of information to auditQT
Each trustee has taken steps that they ought lo have tsken as a trustee in order to make themselves
aware of any relevant audit information and lo establish that the char¢ly's auditor is aware of that
information. The trusl&es confimi that Iherg is no relevant information that they know of and of which
th8y know the auditor is unaware.
The annual report was approved by the trustees of the charity on
beholf by..
and signed on its
M G Thomas
Trustee
Page g

Susan Day Residential Home
Independent Audllor's Report to the Members of Susan Day Resldential Home
Opinion
We have audlted Ihe financial slatemenls of Susan Day ResidentS8l Home Ilhe 'charity'l for the year
ended 31 March 2024, which comprisv the Slalement of Flnancial ActivSlles, Balance Sheet, Cash
Flow Ststement, and Note5 to the Financial Ststem8nts, including a summary of signfficant accounting
policies. The financial reporting framework that has boen applied in thelr preparation is United
Kingdom Accounting Stsndards, comprising ChaTlties SORP - FRS 102 Tho Financi81 Reporting
Sbndard applicable in the UK and Republic of Ire18nd' 8nd applicable law (United Kingdorn Generalty
Accepted Accountlng Practlcel.
In our opinion the financial statements..
give a true and fair view of the state of the charity's affairs as ot 31 March 2024 and of incoming
resources and application of resources, induding its income and expenditure, for the year then
ended-
have been properly prepared in accordance with United ￿ngdorn Generally Accepted Accounting
Practice,. and
have been prepared in accordance wmh the requirements of the Charfties Act 2011.
Ba515 lor oplnlon
We CDnducted our audft In accordancè wkh InternatiDn81 Standards on Auditing IUK} IISAS IUKII and
applicable law. Our responsibilities under those slancsards are further described In the auditor
responslbillties for the audll of the financigl statements section of our report. We are independent of
the charfty In accordance wth the ethical requirernents that are relevant to our audll of the finandal
5talemenls 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 evldence we have
obtained Is sufficient and appropriate to provide a basis for OUT opinion.
Con¢luslons relatlng to golng concern
In audhing the finanryal stst8ments, we have concluded that the trust8es use of the going COn￿M
basls of accounting in the prepar8tlon of the financial ststements is appropriate.
asgd on the work we have perfom)ed, we have not id8ntifi8d any material uncertainties relating to
events or Gondition5 that, indiwdually or collectively, may cast signifioqnl doubl on the charity's abilty
lo continue as a going concem for a period of al least Imlve months from when th8 original finanoal
ststem8nls were authorised for issue.
Our responslbillties and the responsibilities of the twslees ￿1￿ respect to gtslng concem are
described in th8 relovant sedions of this r8POrt.
Other Infomiation
The trustees are responsible for the other information. The other information wmpri$es thg
Informalion induded In the annual repDrt. other than the financial statèments and our auditorfs report
thereon. Our oplnion on the finanual slalements doe8 not cover the other informatron and. except to
the exlent othetwise explicitly stated In our report, we do not express any form of assurance
cono4u8ion thgreoTr.
Page 10

Susan Day Resldentlal Home
Independent Auditor's Report to the Members of Susan Day Residential Home
(contlnued)
In connection with our audit of the financial stslem6nts, our responsibility is to read the other
information and. In doing $0, consider whether the other information is malerialty inconsistent with the
financiai statements Dr our knowledge obtainod Jn the Budit or otheTrwse appears to be Mate￿allY
mis51atgd. If wg identify such material inconsistencies OT appargnl material mi5Statgmenls. we are
required to determine whether there is a materi81 misstatement in the financial ststements or 8
material rnisslatemenl of thè other Informatlon. If, based on the work we have performed, we conclude
that there is a material misstatement of this other information, we are required to report that fact.
We havo nothing to report in this regard.
M#tter$ on whlch we are rttqulred to report by exceptlon
In the light of our knowledge and understanding of the charity and its environment obtsined in the
course of the audit, we have not identrfi8d matedal ml3stat8menls In the Trustees, Report.
We have nothing to r8POrt in respect of the following matters where the Charities (Accounts and
Report) Regulations 2008 requires us to report to you if, In our opinion:
adequate accounting records have not been kepL or retums ad8quate for our audit have not been
rec8ived from branches not visited by us.. or
the financlal ststements a￿ n(rt In agreement wlth the accounlng records and relums. or
certain disdosur85 of trustees remuneration specrfied by law are not made,. or
we have not received all the information and explanations we requlre for our audit.
Respon$lbllltle8 of trustees
As explalnèd more fully in the Slatement of Trusl8es' Responsibilit18s Isel out on page 9), the Iwstees
are responsible for the preparation of the financial stalernenls and for being satisfied that they glve
true and falr vlew. and for such Intemal control as the trustees deterrnine 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 tnjstees 8re responsible for assessing the charity's ability to
continue as a golng concem, discloslng, as appllcable, matters related to going con￿rn and using the
going concèm basis of accounting unl8ss the trustees either intend lo liquidate the charity or lo cease
operalions, or have no realistic allemative bul lo do so.
Audltor Responslbllltle8 for the 8udSt of the financlal statements
Our objectives are to obtain re8sonable assurance about whether the Inancial statements as a whole
arg free from material missl8lemenl, whether due tg fraud OT error. and to issue an audilols report
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
that an audit Gonducted in accordance with ISAS IUKI wlll a￿ayS delecl a material mlsstatèmenl
when it exists. Misststernents Gan arise from fraud or grror and are considered matsrial rf, individually
or in the aggregate, they could reasonably be expected lo influence the economlc decisions of users
tsken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-complignce with laws and regulations. We design
procedures in lin8 With Dur responslbllilie8, oulllned above, lo delecl material misslalements In respect
of irregularities, including fraud. The 8xient to which our proc8dures are capable of detecting
irregularfties, including fraud is detslled below..
Page11

Susan Day Residential Home
Independent Audltorfs Report to the Members of Susan Day Residential Home
{¢ontinued)
We identified areas or laws and regulations that could reasonably be expected to have a material
effect on the fi'nanryal statements from our general comm8rcial and sector experience and through
discussion with the trustees and Other managemènt and from inspection of thè charitys regulatory
correspondence. W8 communlcaled identrfied laws and regulatlons throughout our team, and
remained alert to any indications of non-complSance throughout the audit.
The charity is subject lo laws and regulations that govern tho preparation of the flnanoial
statements, including financial reporting leglslation, and other charity leglslatlon. The charity is also
sublecl lo many other laws and regulations where the consequences of non-compliance could
have a material impact on the amounts or disdosures within the fin8n¢i81 st81emenls, including
employment. anti-bribery, anti-money laundering and ￿rtain aspects of charity leglslatlon.
Owing to the inherent limitation3 of 8n 8udit, there is an unavoid8ble risk that we may not hovg
detected some material misststèments in the finanaal slalemenls, even though we have properly
planned and performed our audit in accordance with auditing stsndards. In any audit, there
remalns a higher rlsk of non-detection of Irregularitles. as these may invo￿8 colluslon, forgery.
intentional omSsslons, mlsrepresènlation5. or the override of intemal controls. We are not
responsible for preventing non-compllance and cannot be expected to del8Ct non-complian￿ with
all laws and regulations.
As part of an audit in accor[fan￿ wth ISAS {UKI. we exercise professional judgement and maintain
prolessional sceptlclsm throughout th8 audit. We also..
Identfy and assess the risks of material misstatement of the financial stalements, whether due to
fraud or 2rror, design and perfom audit procedures responsive lo those risk5, and obtain audit
evidence that Is sufficient and 2ppropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve cdluslon. forgery. intenllonal omissions, mlsrepresentation8. OT the override
of internal control.
Obtain an understandSng of Inlemal control relevant to the audit In order to design audit procedures
that are appropriate in the c]rcumstances. but not for th8 pU￿oSe of expressing an opinion on the
effecllveness of the charity's internal control.
Evaluate the appropriateness of accDunting policies used and the reasonableness of accounting
eS￿MateS and related disclosures made by thè trtJst88s.
Conclude on the appropriateness of the trustees use of the going wncem basls of accounting and,
based on lh8 audit evidènce obtained, whether a material uncertainty exists related to events or
condltions that may cast significant doubt on the charity's ability to continue as a going concern. If
W8 con¢lvd8 that a material uncertainty exists, we art required to draw attention in our auditorfs
report to th8 related disclosures in the flnancial Statements or, if such disclosures are inadequalg,
lo modify our opinion. Our condusions are based on the audit evidence obtained up to th8 dale of
our auditorfs report. However, future events or conditions may cause the charity lo cease to
continue as a going c¢)ncèrn.
Evaluate the overall presentation, structure and conlent of the financial slaleTnents. including the
disclosures, and whether the financial slalemenls repTesenl th$ underlying transactions and
8vents in a manner that achieves fair presentstion.
Obtain suffi￿ont approprfate audit avidence regarding thè financial information tsf the entities or
business activiti85 within the charity to exprgss an opinion on the finan￿al Statements. We are
responsible for the direction, supervision and performance of the charity audit. We remain solely
responsible for our audit opinion.
We communicate with those charged wth govemance regarding, among other matters, the planned
scope and liming of the audit and signrficant audit findings, including 8ny signific8nl defioencies in
internal control that we identify during our audiL
Page 12

Susan Day Residential Home
Independent Auditorfs Report to the Members of Susan" Day Resldgntlal Home
{contlnued)
Use of our report
This report kg made Sole￿ lo the chadty Iruslees, as a t¥)dy, in accordance sedion 144 of the
Charities Act 2011 and regulations made under sectlon 154 of that Act. Our audit work has been
undertaken $0 that we might state to the Iruslees thos.e matteTS we are required lo state to trustees in
an auditors, rewt and for no other purpose. To the ftjllest extent pemitted by law, we do not accept
or assume responsibility to anyone other than the charty and its trustees as a body, for our audit
work, for this report, or for the opinions we have formed.
West¢ott5 ISW) LLFI
Chartered Accountants & Statut¢Xy Audit
47 Bcyjtport Street
Barnstsple
Devon
EX31 1SQ
Page 13

Susan Day Residential Home
Statement of Financial Actlvltles for the Year Ended 31 March 2024
Unrestrict•d
funds
R8stricted
funds
T¢>tal
2024
Totsl
2023
Nol•
Income and Endowm•nts from:
Donations and legaGs9S
Charrtable acbvities
Inv88tm8nt income
Other income
6,903
1,291.719
2,328
1,892
6,903
1.291,719
2,328
1,892
5,903
1,145.026
1,279
2,040
Totsl Income
1,302.842
1,302,842
1,154,248
Exp8nditure on:
Charitable actlvltles
1.256,2961
39
1.256,335
1,153.2671
Total expendkure
Nel Incomgllexpendlturel
Nat movement in funds
1,256,296
1391
11.256,3351
1,153,26TI
39
46,507
981
48.546
139)
46,507
981
R•conclllatlon of funds
Totsl funds brought forward
Totsl funds carried fomard 17
736.131
39
736,170
735,189
782.677
782,677
736,170
All of the charity's aCti￿tieS derivo from continuing operations during thg above hyo pgriods.
The funds breakdown for 2023 is shown in note 17.
The notes on pages 17 to 27 form an integTrl part of these financial statements.
Page 14

Susan Day Resldential Home
{Reglstration number: 205695)
Balance Sheet as at 31 March 2024
2024
2023
Note
Flxed assets
T8ngibl8 8ssels
376,843
382,013
Curront assets
Stock5
Debtors
Cash at bank and in hand
13
14
3.677
17,657
404,405
2.535
20,780
361,733
425,739
385.048
Crodltors: Amounts falllng due wlthln ¢ne year
15
119,9051
30,8911
Net cu￿ent assets
405.834
354,157
Net assets
782.677
736,170
Fund5 of the charity,.
Restricted income funds
Restrlcted funds
39
Unre$trbct•d Income funds
Unrestricted funds
782,677
736.131
Total funds
17
782,677
736,170
The fi
ndal statements on pages 14 10 27 were appToved by thg trustees. and aulhorised for issue
.l.vfr. and signeil on Ihelr behalf by..
M G Thomas
Trustee
The note8 on pages 17 to 27 fomi an Integral part of these financial slalem9nts.
Page 15

Susan Day Residential Home
Cash Flow Statement for the Year Ended 31 March 2024
2024
2023
Note
Cash flows from oporallng actlvitlos
Net cash incom
46,507
981
Adjustments to flows from nonacash Items
DepT8ciation
Investment income
5,170
2,328
49.349
5.170
11,2791
4,872
Vlorklng capltal adjustments
(Increaseydecrease Sn stocks
Decrease in debtors
(Decreas8lllncr&ase In crediloTS
13
14
15
11,1421
3,123
110,986
76
4,875
10,848
Nel cash llows from operating activities
40,344
20.671
Cash flows from investlng actlvllles
Inleresl receivable and similar income
2,328
1,279
Net increase in cash and cash equivalents
Cash and cash equivalents al 1 April
42,672
21,950
361,733
339,783
Cash and cash eqLsivalents at 31 M8rch
404,405
361,733
All of th8 cash flows are derived from continuing operations during the above ts¥o periods.
The notes on pages 17 to 27 form an Integral part of these flnanci81 statements.
Page 16

Susan Day Resldentlal Home
Not85 to the Flnanclal Statsments for the Year Ended 31 March 2024
1 kcounting polici8$
Statement of compliance
The financSal ststements have been prepared in accordance with the second edition of the Charftles
Statement of Recommended Practlce Issued in October 2019. th8 Financial Reporbng Standard
applicable in tho Unilgd Kingdom and Republic of Ireland IFRS 102) and the Charitses Act 2011.
Bosis of proparation
Susan Day Residential Home meets the definition of a public benefit entity under FRS 102. The
accounts (financial statemenlsl hav8 been prepared under the historical Gost Gonvenb"on wlth items
recognised at cosl or trans8clion value unless 01h9n￿ls8 slalgd in the rg18vant nolelsl to these
accounts.
Golng concern
The trustees conslder that there are no material uncertainties about the charltys abillty to Gonlinue as
a going Goncem.
Inc¢yme and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a
general nature is recognised when the charity has entitlement to the income, it Is probable th8t the
Income wlll be received dnd the amount can be measured with suffici8nl reliability.
Donations and lega¢lgS
Donations and legaci88 are recognised on a receivable basis when le￿Ipl is probable and the
amount can be r¢li8bly measured.
Invèstment income
Dlvldends are reo)gnised onc8 the dlvidend has baen declared and notification ha8 been racelved of
the divldend due.
Expendituro
All expenditure is recognised once there is a legal or ￿n$tnjrtiV8 obligation lo that expenditure, il Is
probable se￿ement is reqUI￿d and the amount can be measured reliably. All costs ar8 allocated lo
the 8ppItC8ble expenditure headtng that aggregate similar costs to th8t category. Where ¢osts ¢8nnot
be dlrectly attrfbuted to parlicular heading5 they have been allocated on a basls conslstent with the
use of rèsources. with central staff costs allocated on the basis of time spent, and depTedation
charges 811ocated on the Portion of the asset's use. Other support costs are 811ocaled based on the
spread of 5tsff ¢ostS.
Charltable activltiés
CharStablt expenditure comprlses those costs incurred by the charity in the delivery of its activlties
and s8rvic8s for Its bengfl¢iarie$. 11 Sn¢lude$ both ¢o$t9 that ¢8n be allo¢alod dSrg¢tly to such 8¢11vlUgs
and those costs of an indirect nature ne￿$Sary to support them.
Page 17

Susan Day Residential Home
Notes to the FlnanciaS Statements for the Year Ended 31 March 2024
(continued)
Taxatlon
The charity is eonsidered to pass the tests set out in Paragraph 1 Schedulg 6 of the Flnance Aot 2010
and therefore it meets the definition of a ch8ritable company for UK corporation tsx purpose5.
Accordingly, tha charty Is potentially exempt from laxaty'on in respect of Income or capltal gain5
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2D10 or Section
256 of the Taxallon of Chargeable Gains Act 1992, to the extent that such Income or galns are
applied exclusively to charitable purposes.
Tanglble flxad assets
Individual fixed assets costlng £50,000 or more are initially recorded at cost, less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
Depreclation and amortlsatlon
Depreclauon is promded on tanglble flxed assets so as lo vnéte off the cost or valuation. less any
estimated residual valL¢e, over their expected useful economic life as follows..
set class
Land and Buildings
Fumlture and equipmgnl
Depreciation method and rat
Straight line over one hundred y8ars
15Yo straight line with 8 full years
chargfj In the year of acquisiUon
Impaimient of fix•d assets
A review for indicators of impairment 18 cathed out al each reportlng date. whh the recoverable
amount being estimated where such indicators exist. Where the carry'ng value exceeds the
r•cov8rablÈ amount, the asset is impaired accordingly. Prior impalrmgnts are also reviewed for
possible reversal al each reporting date.
For the purposes of Impalrment lestlng. when It Is not posslble to estlmate the recoverable amount of
an indivldual asset. an estimate Is made of the recoverable amount of the cash4Jeneraling unil to
which the asset belongs. The cash%eneratJng unil is the srnallest identifiable group of assets that
includes the asset and generates cash inflows that largely independ8nt of the cash inflows from other
assets or group of assets.
For impairment t8sllng of goodwll. the goodwill acquired in a business combination is, from the
8CqUlSltion dale, allocated to each of the c8sh4enerating units that are expected to benofrt from the
synergies of the combination, irrespective of whether other assets or liabilities of the charity are
assigned lo those units.
Stock
Stock is valued at the lower of cost and estimated selling price Sess costs to complete and sell, 8fter
due regard for obsolete and slow moving stocks. Cost is determined using the firsl-in, first-oul (FIFO).
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits. and other short-lemi highty
liquid investments that are readily convertible lo a known amount of cash and are subject to an
insignificant iisk of change In value.
Page 18

Susan Day Residentlal Home
Notes to the Financial Statements for the Year Ended 31 March 2024
(contlnued)
Fund Btru¢ture
Unrestrrcted inc4Jme funds a￿ g8neral funds that are available fur use at the trustees dlscretion in
furthorance of the obhectlves of the charfty.
Restricted income funds are those donated for use in 8 Particular area or for Specific purposes, the
use of which is restricted to that area or purpo88.
Flnan¢lal Instruments
Classlll¢atlon
Financial assets and finandal Ilabllitieg are recognI8ed when th8 chadty becomes a paty to the
contractual provision8 of the inslrumenl.
Flnancial liabilities and equity instruments are classlfled according lo the Substan￿ of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual Interest in
thg assets of the charity after deductlng all of its liabilities.
Recognltlon and measurement
All financial assets and liabiltu'es are initially measured at transaction price (including transaction
costs), except for those flnanclal assets classified as at falr value fhrough profif or loss, which are
Initlally measured at fair value (which is nomially the transaction price exdudlng transaction coslsl,
unless the a￿angemen1 constilules a flnandng transaction. If an arr8ngement constitutes a financing
Ir8nsaction, the financial asset or financial liability is measured at the present value of the futtjre
payments discounted at a market rat¢ of interest for a simllar debt instrument.
Financial assets and liabilities are only offset in the statement of financial pothon when, and only
when there exists a legally enforceable rlghl to set off the recognised amounts and the charity intends
either to setue on a net basis, or lo realise tho asset an(J settle the Ilability simultaneously.
Financial assets are derecognised when and only when al the wntraGtUo1 rights to thg cash flows
from the financial asset expire or are setued. bl the charity transfers lo another party substantially all
of the risks and rewards of ownershlp of the flnancial asset, or cl the charity, despite ha￿ng retained
some, but not all, significant risks and rewards of ownership, has transferred control of the asset to
another paty.
Financlal 1Sabllllles are derecognlsed only when the obllgatlon spectfied In the c¢Jntract is dlstharged,
canceNed or expires.
Pag8 19

Susan Day Resldential Home
Notes to the Flnancial Statements for the Year Endod 31 March 2024
(continued)
2 Income from donatlons and legaclos
Unrestrfcted
fund5
General
Total
2024
Don8tlons
Oc￿allOnS - general
6,903
6,903
6,903
6,903
Unrestrlctsd
funds
Gen•ral
Restrlcted
funds
T￿al
-2013
Don8tion8
Donations - general
4,053
1,850
5,903
4,053
1,850
5,903
3 Incomo from charftabl• •ctlvitl•s
Unr•strlctgd
fvnds
General
Total
2024
Residents fees
1,291.719
1,291,719
Unrestricted
lunds
General
Tgtal
2023
Residents fees
8ursary fees
1,144,081
1,144,081
945
1,145.026
1,145,026
Page 20

Susan Day Resldentlal Home
Notes to the Flnanclal Statements for the Year Ended 31 March 2024
(continuedl
4 Investment Income
Unrestrlcted
funds
Genoral
Totsl
2024
UK bank deposlt account Interest
2,328
2,328
2.328
2,328
Unr•Btricted
fund5
General
Total
2023
UK bank deposlt account Inter6st
1,279
1,279
1,279
1.279
5 Oth•r Incomo
Unre5tri¢ted
funds
General
Total
2024
Other income
1.892
1,892
Unrestricted
funds
General
Total
2023
Other income
2,040
2,040
Page 21

Susan Day Residential Homo
Notes to the Financial Statements for the Year Ended 31 March 2024
(continued)
6 Expanditurg on charitable 4Gfjvltlg$ by fund type
Unr•stri¢ted
funds
Gènèral
Restrlctèd
funds
Totsl
2024
General fund
Amenit￿5 fund
Support costs
1,229,147
7,834
19,315
39
1,229.186
7.834
19,315
1,256,296
39
1,256,335
Unrastricted
fund$
GeneTal
Reslrlcted
funds
Total
2023
General fund
Amenities fund
Support costs
1,128,694
4.160
18,602
1,811
1,130,S05
4,160
18.602
1,151,456
1.811
1,153.267
7 Analysls of support costs
Support costs allocated to charitablg actlvltles
T¢>tal
2024
Total
2023
Accountancy fees
Audit fees
Consultancy fees
Bank charges
Prrnting, postage, slallonery and adverts
5,845
3,500
8.429
65
476
5,664
1,690
8,768
125
2.355
19,315
18,602
8 Net Ineomlngloutgolng fesouvces
Nel incoming resources for the ￿ar include:
2024
2023
Depreaation of fixed assets
5,170
5,170
Page 22

Susan Day Residential Home
Notes to the Financial Statements for the Yoar Endod 31 March 2024
(contlnued)
9 Trustees remuneratlon and expenses
No trustees. nor any p8r50ns ¢onnectfjd wlh them. have received any remuneration from th8 charity
during the year.
10 Staff costs
The aggregete P8yToII costs were as follows..
2024
2023
Staff costs during tho year wer•:
Wages and salaries
Soaal security costs
Pension costs
870.186
54,863
14,899
789,238
$0,184
1 5,329
939,948
854,751
The monthly average number of persons (including senior management I leadership team) employed
by the charity during the year expressed full Ume equivalents was as follows..
2024
No
49
2023
No
48
Carers. catering and admlnlslratlon
No employee received emoluments of more than £60,000 du￿ng the year
Page 23

Susan Day Residential Home
Notes to the Financlal Statements for the Year Ended 31 March 2024
(contlnued)
11 Taxation
The charity is a ￿giSte￿d charity and is therefore exempt from taxation.
12 Tanglble fix•d as$èt8
Furnlturè
and
equipmont
Land and
buildings
Total
Cost
At 1 Apdl 2023
517.002
255,038
772.040
At 31 Marth 2024
517,002
255,038
772,040
Depreciation
At 1 ApTII 2023
Charge for the year
At 31 March 2024
134,989
5,170
255,038
390,027
5,170
140,159
255.038
395,197
Net book value
At 31 March 2024
376.843
376.843
At 31 March 2023
382,013
Freehold buildings were independently valued by a Chartered Surveyor on the ba51s Df an open
market vgluation for existing use in July 1997. No historic cost records are available because the
freehold bulldings were not on the Balance sheet before 1997. The tharity ha$ adopted the
transitional provisions of FRS102 and the valuation of £360.000 has not been updated and has
insl8ad been adopted as deemed cost. All addltionl improvem8nts to the propety slnc8 1997 are at
ost. In April 2007, an insurance assessor carried out a detailed valuation of the propety and
considered that it had a value of £2,300,000. The trustees considered thls value reali51io The trustees
estimate that this valu8 will be at a similar level at 31st March 2024.
382.013
13 Stock
2024
2023
Stocks
3.677
2.535
14 Debtors
2024
2023
Trade debtors
Prepayments
8,538
9,119
17,657
12,732
8,048
20,780
Page 24

Susan Day Residential Home
Notes to the Financial Statsments for the Year Ended 31 March 2024
(continued)
1 S Credltors.. amounts falling due wlthln one year
2024
2023
Trade credllors
Awua18
11,640
8.265
17,136
13.7S5
30,891
19,905
16 Penslon and other schemes
Defined contrlbutlon penslon scheme
The charity operates a defined conth'bution pension scheme. The pension cost tharge for the year
represents contribulons payable by the charity to the scheme and amoLbnled to £14,899 12023
£15,329).
17 Funds
Balance at
Balanc• at
31 March
2024
Incomln9 Resources
resources
expended
2023
Transfers
Unr•stricted funds
General
General fund
Amenities fvnd
Property Reserve
Contingency Fund
192,560
11,558
382,Q113
150,000
736,131
1,299,333 11.243,2921
3,509
(7,834)
15,1701
{100,0001
148,6D1
7,233
376.843
250,000
100,000
1,302.842 11.256.296}
782,677
Restrlct8d funds
Defibrillator fijnd
39
39
Total funds
736,170
1,302,842
1,256,335
782.677
Page 25

Susan Day Residentlal Home
Notes to the Financial Statements for the Year Ended 31 March 2024
(contlnued)
Balance at
31 March
2023
Balance at 1
Aprll 2022
Incoming
msources
R•source¥
expénded
Unr•strfcted funds
G￿eral
General fund
Amenities fund
Property Reserve
Contingency Fund
183,600
14.406
387.183
150.000
1,148.677
3.721
11,142,126)
14,1601
15,170)
190,151
13,967
382,013
150,000
736,131
735,189
1.152,398
{1,151,4561
Restrictod fund
Defibrillator fund
1,850
11,811
39
Total funds
735,189
1,154,248
1,153,267
736,170
The speGffic purposes for whlch the funds are lo be applied are as follows..
The unrestrictsd lunds are funds available for the use at the discretion of the trustees In furtherance of
the general objectives of the Gharity.
The amenities fund includes unrestricted inmme frorn the ch8rltYs open day, Goffee momings and
donations, and the related bank interest from such funds. Expenditure from the fund is the cost of the
ovents and any surplus is designated for use of trips and outings and for Christmas and other
occasional grfts.
A separate designated propety reserve has been sel up lo represent the book value of the freehol
buildings shown in the accoun15. Thi5 tangible fixed asset w?11 be retained to ensur8 the charity
continues in il current activities as a residential horne.
The trustees had designated £150,000 of the reserves as a contSngency fund, during the year the
trustees deslgnated a further £100,000. This is lo be used for any unforeseen emergencies whlth
may arise, mainly in ￿spect of income,. staffing costs- or premises costs. The trustees believe this lo
be good governance in particular taking into account the needs of residents who are beneficiaries of
the charity.
In 2023. the home received grants towards the purchase of a defibrillator. The remalning balance was
fully spent during 2024.
Page 26

Susan Day Resldentlal Home
Notes to the Flnancial Statements for the Year Ended 31 March 2024
(continued)
18 Analysls of net assets between funds
Unrestricted
funds
GonoTal
Total tunds
at 31 March
2024
Tangible fixed asse15
Current assets
Current liabli ities
376,843
425,739
{19,905
782,677
376,843
425,739
119,9051
782,6TT
Total net a33ets
Unrestricted
funds
General
Total funds
at 31 March
2023
Restrlct•d
funds
Tanylble fixed assets
Current assets
Current Ilabllltles
382,013
383,198
{29.080)
736,131
382,013
385.048
130.891)
736,170
1,850
11.811)
39
Totsl net assets
19 Rolatsd party transactions
There were no related party transactions in the year.
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