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.
nine
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:
- Define risk governance
- e Identify principal risks
- Assess their potential impact and likelihood
- ¢ Develop mitigating strategies and actions
- ¢ Monitor and review risk activities
- ¢ Communicate and report risks
Dace
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;
- to undertake minor repair and redecoration of the east wall of the building,
- ° to up-date the Homes website,
- tocontinue to develop a portfolio of new and CQC compliant policies and procedures,
- to continue to develop and retain a friendly, efficient and highly trained workforce within the restrictions of Covid infection guidelines,
- as soon as is possible, depending on the lifting of restrictions, resume the face to face monthly trustee visits and inspections,
- to improve the occupancy rate,
- torestart the rolling maintenance programme as soon as Covid restrictions permit.
## 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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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
## nn
| 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:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or 2. the financial statements do not accord with those records; or 3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
a ge
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
a ae
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.
-7=
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
age
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 -----**
a0
THE EMILIE GALLOWAY HOME OF REST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 1 Accounting policies
## Charity information
The Emilie Galloway Home of Rest is a charitable trust.
- 1,1 Accounting convention
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.
- 1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
- 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
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.
- 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Income from charitable activities consists of receipts from residents which are recognised when receivable.
= 10«
## 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.
- 1.7 Fixed asset investments
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.
# TT
THE EMILIE GALLOWAY HOME OF REST
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
## 1 Accounting policies (Continued)
- 1.8 Impairment of fixed assets
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).
- 1.9 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
## 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.
= 42%
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.
a bs
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|
= Tq
.
## 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|
z 15 e
THE EMILIE GALLOWAY HOME OF REST
ee
ee
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
## FOR THE YEAR ENDED 31 MARCH 2022
eg re i
## 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|
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
**----- Start of picture text -----**
||||||||||
|---|---|---|---|---|---|---|---|---|
|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.
Ye