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2022-03-31-accounts

Charity registration number 205867

THE EMILIE GALLOWAY HOME OF REST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

THE EMILIE GALLOWAY HOME OF REST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs R G Cameron
Mrs
E M Broome
Mrs M de Wirtz
Mr M V Walker
Mrs S Hopkins
Charitynumber 205867
Principal address Tweed
8-10 Silverdale Road
Eastbourne
East Sussex
BN20 7AL
Independent examiner Nathan Coker FCCA
Price
& Company
30-32 Gildredge Road
Eastbourne
East Sussex
BN21 4SH
Bankers Natwest
96 Terminus Road
Eastbourne
East Sussex
BN21 3AA
Investment advisors Charles Stanley& Co Ltd
14 Hyde Gardens
Eastbourne
East Sussex
BN214PR

THE EMILIE GALLOWAY HOME OF REST

CONTENTS

Page
Trustees’ report 1-3
Independent examiner's report 5-6
Statement offinancial activities 7
Balance sheet 8
Statement of cash flows 9
Notestothefinancialstatements 10-24

THE EMILIE GALLOWAY HOME OF REST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their annual report and financial statements for the year ended 31 March 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The Home, a registered charity number 205867 was established by a charitable trust in 1930 to provide a residential and holiday home for the elderly. The charity moved its premises to Eastbourne in 1950 and enjoys a high reputation in the area; word of mouth and personal recommendations have been such that advertising has not been necessary for some years. The charity's fundamental Aim is to provide a comfortable and pleasant residential home for the elderly and one of its supporting objectives is ensuring that fees remain in the lower 50%-tile of an equivalent private care home in the area whilst the average wage of employees. remains in the upper 50%-tile.

As such it clearly demonstrates conformity with the Charity Commission Guidance on Public Benefit.

Achievements and performance

Due to continuing and diligent compliance with Covid restrictions during this period, Tweed remained almost free of Covid. Regular Covid testing of both the staff and residents ensured the safety of the Home. Restrictions on visiting were also enforced. Trustees were unable to visit in person, so regular telephone calls to the individual residents and staff took place, and the monthly Trustee meeting took place in a local church hall to ensure social distancing rules were complied with. Without outside entertainment and activities the staff have extended their roles to ensure the well being of those in their care, and staff turnover has been minimal.

Only essential repairs and maintenance have been undertaken. However, a new garden house was installed in the rear garden, to facilitate visitors. The continuing pandemic resulted in a halt to our rolling programme of redecoration and improvements.

Occupancy has been adversely affected by the pandemic, with the public understandably reluctant to move out of their homes and into residential care with restricted visiting. It was necessary to designate one of the vacant rooms as the Covid testing ‘station’ throughout this accounting period.

During this period the trustees have successfully recruited a Trust Secretary to replace the Trust Manager who retired in June. The new Trust Secretary has settled in well and has developed efficient and accessible management routines for the Trust’s financial and accounting procedures.

The value of investments held by the charity has been maintained. The income yield from those investments was 3.4% (2021: 3.2%).

Financial review

During the year, the charity madea surplus of £41,162, compared to a deficit of £6,847 in the previous year.

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THE EMILIE GALLOWAY HOME OF REST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Reserves Policy

In order to ensure that the charity could recover from a catastrophic incident such as fire or flood, it is the policy of the charity to maintain business interruption insurance cover over an indemnity period of 24 months. It is also the policy of the charity that reserves should be maintained at a level sufficient not only to ensure that it will be able to continue the charity's current activities in the event of a significant drop in funding, but that in the evet of a catastrophe the redundancy costs of all but a minimum of key staff could be met, the cost of which would be circa £100,000.

The charity's reserves are represented by Net Current Assets of £80,516. However, the Fixed Asset Investments will be realised if funds are required to support the Charity's activity of operating a rest home. Fixed Asset Investment on 31 March 2022 had a market value of £353,081.

The trustees have decided to designate the fixed assets and investments as these are required for long term operations and income generation. This leaves unrestricted reserves at £80,516 (2021: £44,876) and the trustees will work on building this up to the £100,000 needed, in order to prevent the investments having to be realised.

Investment Policy

It is the policy of the Charity to maintain the value of its reserves in real terms and to maximise income from them without taking any undue risk. The performance of the fund this year has been satisfactory, the investment reserves grew by 3.4%, the market continues to stabilise and is expected to continue to recover from the effects of COVID. The Trustees remain in close and regular consultation with their financial advisor and continue to invest wisely and safely.

Risk Factors

The objective of the charity's Risk Policy is to provide guidance on managing organisational risk to support the achievements of strategic objectives, the protection of beneficiaries, staff and business assets and to ensure the continuation of business operations and financial sustainability. The policy, in line with Charity Commission Guidance CC26, provides a framework to:

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THE EMILIE GALLOWAY HOME OF REST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 NTTeeeTeen eee eee

Plans for future periods

The Trustees intend to continue, in accordance with the provisions of the Trust deed to provide a residential and respite home for the elderly. With an aging population and in a region popular with retired people, the market for place in care homes is steadily increasing year by ear. However, in order to maintain the good reputation within the community and full occupancy it is planned;

Structure, governance and management

The Home was established by the Will of the late Ella Galloway who died in 1930, and registered with the Charity Commission on 23 September 1962 under registration number 205867. The legal and administrative information page gives details of the Charity's principal address, bankers and principal advisers.

The trustees who served during the year and up to the date of signature of the financial statements were: Mrs R G Cameron

Mrs E M Broome

Mrs M de Wirtz

Mr M V Walker

Mrs $ Hopkins

The Home is administered by the Trustees who are appointed as required and who meet monthly to review the Home's activities and results, to discuss new projects and to generally support the work of the staff and well as meeting the residents and to make policy decisions.

The trustees' report was approved by the Board of Trustees.

Mrs R G Cameron

Trustee

26 January 2023

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THE EMILIE GALLOWAY HOME OF REST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2022

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

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and 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.

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THE EMILIE GALLOWAY HOME OF REST

TO THE TRUSTEES OF THE EMILIE GALLOWAY HOME OF REST

INDEPENDENT EXAMINER'S REPORT

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| report to the trustees on my examination of the financial statements of The Emilie Galloway Home of Rest (the charity) for the year ended 31 March 2022.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

| report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanation from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view' and the report is limited to those matters set out in the next statement.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of ACCA, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

| understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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THE EMILIE GALLOWAY HOME OF REST

INDEPENDENT EXAMINER'S REPORT (CONTINUED)

TO THE TRUSTEES OF THE EMILIE GALLOWAY HOME OF REST

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Nathan Coker FCCA

Price & Company

30-32 Gildredge Road Eastbourne East Sussex BN21 4SH

Dated: 26 January 2023

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THE EMILIE GALLOWAY HOME OF REST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted Unrestricted Total Unrestricted Unrestricted Total
funds funds funds funds
general designated general designated
2022 2022 2022 2021 2021 2021
Notes £ £ £ £ E £
Income from:
Donationsand legacies 3 69,648 - 69,648 71,165 - 71,165
Charitable activities 4 690,903 - 690,903 689,307 - 689,307
Investments 5 11,316 - 11,316 10,794 - 10,794
Total income 771,867 - 771,867 771,266 - 771,266
Expenditure on:
Charitable activities 6 731,400 10,037 741,437 789,477 14,618 804,095
Other 10 673 - 673 - - -
Total expenditure 732,073 10,037 742,110 789,477 14,618 804,095
Net gains/(losses) on
investments 11 - 11,405 11,405 2,589 23,393 25,982
Net incoming/(outgoing)
resources before transfers 39,794 1,368 41,162 (15,622) 8,775 (6,847)
Gross transfers
betweenfunds (4,154) 4,154 - (394,985) 394,985 ~
Netmovement in funds 35,640 5,522 41,162 (410,607) 403,760 (6,847)
Fund balances at 1April 2021 44,876 403,760 448,636 455,483 - 455,483
Fund balances at 31 March
2022 80,516 409,282 489,798 44,876 403,760 448,636

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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THE EMILIE GALLOWAY HOME OF REST

BALANCE SHEET

AS AT 31 MARCH 2022

2022 2021
Notes £ £ £ £
Fixed assets
Tangible assets 12 56,201 61,968
Investments 13 353,081 341,792
409,282 403,760
Current assets
Stocks 15 2,343 2,530
Debtors 16 15,812 2,099
Cash at bank and in hand 117,333 84,425
135,488 89,494
Creditors: amounts falling due within
one year 18 (54,972) (44,618)
Net current assets 80,516 44,876
Total assets less current liabilities 489,798 448,636
Income funds
Unrestricted funds - designated 409,282 403,760
General unrestricted funds 80,516 44,876
489,798 448,636

The financial statements were approved by the Trustees on 26 January 2023

Mrs R G Cameron Mrs EM Broome Trustee Trustee

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THE EMILIE GALLOWAY HOME OF REST

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2022

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2022|2021| |Notes|£|£|£|£| |Cash|flows|from|operating|activities| |Cash|generated|from/(absorbed|by)|24| |operations|38,332|(31,194)| |Investing|activities| |Purchase|of tangible|fixed|assets|(4,943)|(5,052)| |Purchase|of investments|-|(113,164)| |Proceeds|on|disposal|of|investments|116|113,566| |Investment|income|received|11,316|10,794| |Net|cash|generated|from|investing| |activities|6,489|6,144| |Net|cash|used|in|financing|activities|-|-| |Net|increase/(decrease)|in|cash|and|cash| |equivalents|44,821|(25,050)| |Cash|and|cash|equivalents|at|beginning|of year|72,512|97,562| |Cash|and|cash|equivalents|at|end|of year|117,333|72,542| |Relating|to:| |Cash|at|bank and|in|hand|117,333|84,425| |Bank|overdrafts|included|in|creditors| |payable|within|one year|-|(11,913)|

----- End of picture text -----

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THE EMILIE GALLOWAY HOME OF REST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Charity information

The Emilie Galloway Home of Rest is a charitable trust.

The Financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Proactive applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention, modified to include investments at fair value. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Income from charitable activities consists of receipts from residents which are recognised when receivable.

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THE EMILIE GALLOWAY HOME OF REST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies (Continued)

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 €xpenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure is recognised in the period in which the costs are incurred. It includes attributable VAT witch cannot be recovered.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold Property 100 Years Imrovement to freehold property 20 years Fixtures, fittings & equipment 10 Years and 5 Years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Assets below the value of £100 are not capitalised.

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

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THE EMILIE GALLOWAY HOME OF REST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies (Continued)

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1,11 Financial instruments The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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THE EMILIE GALLOWAY HOME OF REST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies (Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition offinancial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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THE EMILIE GALLOWAY HOME OF REST

4

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

2 = Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

There are no judgements made by the Trustees (apart from those involving estimates) that have a significant effect on amounts recognised in the financial statements.

Key Sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Depreciation and residual values

The Trustees have reviewed the asset lives and associated residual values of freehold properties and have concluded that asset lives and residual values are appropriate.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
general general
2022 2021
£ £
Donations and gifts 1,047 283
COVID-19 grants received 68,601 70,882
69,648 71,165

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THE EMILIE GALLOWAY HOME OF REST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

4 Charitable activities

Provision of Provision of
care care
2022 2021
£ £
Receiptsfrom residents 690,903 687,456
Other income - 1,851
690,303 689,307

5 Investments

Unrestricted Unrestricted
funds funds
general general
2022 2021
£ £
Investment income 9,636 10,748
Interest receivable 1,680 46
11,316 10,794

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THE EMILIE GALLOWAY HOME OF REST

ee

ee

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

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6 Charitable activities

Provision of Provision of
care care
2022 2021
£ £
Staff costs 591,229 596,111
Depreciation and impairment 10,037 14,618
Agency costs 10,303 13,912
Opening stock 2,530 3,800
Closing stock (2,343) (2,530)
Food 34,217 38,231
Household requisites and cleaning 8,561 7,927
Repairs & renewals 29,974 52,138
Light& Heat 19,066 20,686
Telephone 3,768 1,819
Postage 139 1,690
Sundry Expenses (1,071) 14,239
Subscriptions and inspection fees 4,366 6,689
Stafftraining 2,302 2,095
Water rates 729 4,447
Insurance 8,592 5,797
Rates 1,761 1,699
724,160 783,368
Share ofgovernance costs (see note 7) 17,277 20,727
741,437 804,095
Analysis byfund
Unrestricted funds - general 731,400 789,477
Unrestricted funds -designated 10,037 14,618
741,437 804,095

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THE EMILIE GALLOWAY HOME OF REST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

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7 Support costs
Support Governance 2022 Support Governance 2021
costs costs costs costs
£ £ £ £ £ £
Accountancy and
Independent
examination - 3,054 3,054 - 5,893 5,893
Accountancy - 5,379 5,379 - 7,227 L228
Legal and professional ~ 1,920 1,920 - - -
Advertising, printing,
stationery - 2,885 2,885 - 4,190 4,190
Bank Charges - 723 723 - 266 266
Stockbroker charges - 3,316 3,316 - 3,151 3,151
- 17,277 17,277 - 20,727 20,727
Analysed between
Charitable activities - 17,277 17,277 - 20,727 20,727
Governance costs includes payments to the independent examiners of £1,500 (2021: £2,515) for
independent examination fees and £6,933 (2021: £10,605) for other services.
8 Trustees
None ofthetrustees (or any persons connected with them) received any remuneration or benefitsfrom
the charity during the year. During the year no trustee were reimbursed for operation expenses (2021:
none).
Trustees indemnity insurance of£787 (2021 - £747) was paid duringthe the year.
9 £mployees
The average monthly number ofemployees during the yearwas:
2022 2021
Number Number
Home Staff 32 32
Admin Staff 2 2
Total 34 34

8 Trustees

9 £mployees

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THE EMILIE GALLOWAY HOME OF REST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

9 Employees (Continued)

Employment costs 2022 2021
E £
Wages and salaries 542,808 548,952
Social security costs 36,845 34,861
Other pension costs 11,576 12,298
591,229 596,111

There were no employees whose annual remuneration was more than £60,000.

10 Other

Unrestricted Total
funds
general £
2022 2021
Net loss on disposal of tangible fixed assets 673 -
673 -

11 Net gains/(losses) on investments

Unrestricted Unrestricted Unrestricted Total
funds funds funds
designated general designated
2022 2021 2021 2021
£ £ £ £
Revaluation of investments 11,405 - 23,393 23,393
Gain/(loss) on sale of investments - 2,589 - 2,589
11,405 2,589 23,393 25,982

<TR.

THE EMILIE GALLOWAY HOME OF REST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

12 Tangible fixed assets

Tangible fixed assets
Freehold
Property		 Imrovementto
freehold
property		 Fixtures,
fittings &
equipment		 Total
£ £ £ £
Cost
At 1 April 2021 21,452 232,265 132,534 386,251
Additions - - 4,943 4,943
Disposals - - (2,337) (2,337)
At 31 March 2022 21,452 232,265 135,140 388,857
Depreciation and impairment
At 1 April 2021 4,512 200,211 119,560 324,283
Depreciation charged in the year 215 4,487 5,335 10,037
Eliminated in respect ofdisposals - - (1,664) (1,664)
At 31 March 2022 4,727 204,698 123,231 332,656
Carryingamount
At 31 March 2022 16,725 27,567 11,909 56,201
At31March2021 16,940 32,054 12,974 61,968

13‘ Fixed asset investments

Listed Cash tn Total
investments portfolio
£ £
Cost or valuation
At 1 April 2021 337,424 4,368 341,792
Valuation changes 11,405 - 11,405
Netcash movement - (116) (116)
At 31 March 2022 348,829 4,252 353,081
Carrying amount
At 31 March 2022 348,829 4,252 353,081
At31March2021 337,424 4,368 341,792

a 19 a

THE EMILIE GALLOWAY HOME OF REST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

.

13‘ Fixed asset investments (Continued}

14‘ Financial instruments 2022 2021
£ £
Carrying amount offinancial assets
Instruments measured at fair value through profit or loss 348,829 337,424
15 Stocks
2022 2021
£ £
Raw materials and consumables 2,343 2,530
16 Debtors
2022 2021
Amounts falling duewithin one year: £ £
Other debtors 12,537 -
Prepayments and accrued income 3,275 2,539
15,812 2,539
17__ Loans and overdrafts
2022 2021
£ £
Bank overdrafts - 11,913
Payablewithinoneyear - 11,913

= 20%

THE EMILIE GALLOWAY HOME OF REST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

18 Creditors: amounts falling due within one year

Creditors: amounts falling due within one yearyear
2022 2021
Notes £ £
Bank overdrafts 17 - 11,913
Other taxation and social security 16,029 -
Other creditors 26,894 13,272
Accruals and deferred income 12,049 19,433
54,972 44,618

19 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £11,576 (2021 - £12,298).

20 ~=—Restricted funds

There is no restricted income received in the year.

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THE EMILIE GALLOWAY HOME OF REST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

22 ~=—Analysisofnetassets between funds ~=—Analysisofnetassets between funds ~=—Analysisofnetassets between funds
Unrestricted Designated Total Unrestricted Designated Total
funds funds funds funds
2022 2022 2022 2021 2021 2021
£ £ £ £ £ £
Fund balances at 31
March 2022 are
represented by:
Tangible assets - 56,201 56,201 - 61,968 61,968
Investments - 353,081 353,081 - 341,792 341,792
Current assets/
(liabilities) 80,516 - 80,516 44,876 - 44,876
80,516 409,282 489,798 44,876 403,760 448,636
23 ~—Related partytransactions
There were no disclosable related partytransactions duringthe year (2021 - none).
Remuneration ofkey management personnel
The remuneration of key management personnel is as follows.
2022 2021
£ £
Aggregatecompensation 44,345 38,164

23 ~—Related party transactions

Boris

THE EMILIE GALLOWAY HOME OF REST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

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|||||||||| |---|---|---|---|---|---|---|---|---| |24|Cash|generated|from|operations|2022|2021| |£|£| |Surplus/(deficit)|for the year|41,162|(6,847)| |Adjustments|for:| |Investment|income|recognised|in|statement|of financial|activities|(11,316)|(10,794)| |Loss|on|disposal|of tangible|fixed|assets|673|-| |Gain|on|disposal|of investments|-|(2,589)| |Fair value|gains|and|losses|on|investments|(11,405)|(23,393)| |Depreciation|and|impairment|of tangible|fixed|assets|10,037|14,618| |Movements|in|working|capital:| |Decrease|in|stocks|187|1,270| |(Increase)/decrease|in|debtors|(13,273)|3,870| |Increase/(decrease)|in|creditors|22,267|(7,329)| |Cash|generated|from/(absorbed|by)|operations|38,332|(31,194)| |25|Analysis|of changes|in|net funds|

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The charity had no debt during the year.

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