Charlty r¥lstratlon number 205867 THE EMIUE GALLOWAY HOME OF REST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED JI MARCH 20Z4
THE EMILIE GALLOWAY HOME OF REST LEGAL AND ADMINlSfRATIVE INFORMATION Trustees Mrs E M Broome Mr M V Walker Mrs S Hopkins Mrs E Pilley Mr S Wise IAppointed 22 February 20241 (Appolnted 22 February 20241 Charlty number 205867 Prlnclpal address Tweed 8-10 Sllverdale Road Easibourne East Sussex BN20 7AL Independent examlner Nathan Coker FCCA Prlce & Compary 30-32 Gildred8e Road Eastbourne East Sussex BN214SH B•nkers Natwest 96 Terminus Road Eastbourne East Su55ex BN213AA Inv•8tm•nt advlsorn Chades Stanley & Co Ltd 14 Hyde Garden5 Eastbourne East Sussex BN214PR
THE EMILIE GALLOWAY HOME OF REST CONTENTS Page Trustees, report Statement of trustees, responsibilities Independent examlner's report Statement of financial artlvitles Balance sheet Statement of cash flows Notes to the financial statements 10-24
THE EMILIE GALLOWAY HOME OF REST TRUSfEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financlal statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply wlth the charity's governlng document, the Charltles Act 2011 and "Ac¢ountlng and ReportinB by Charities.. Statement of Recommended Practlce appllcable to charltles preparin8 thelr occount5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective l January 20191- Objertlves and actlvltles The Home, a re8lStered charlty number 20S867 was established by a charitsble trust in 1930 to provide a resldentlal and holiday home for the elderly. The charity moved Its premises to Eastbourne In 1950 and enloys a hlgh reputatlon In the a3. word of mouth and personal recommendatlons have been such that advertislng has not been necessary for some years. The charity's fundamentsl Alm is to provide comfortable and pleasant residential home for the elderfy and one of tts supportlng oblertlves Is ensurlng that fee5 remain in the lower 50%-tlle of an equivalent private care home in the area whi15t the average wage of employees. remalns in the upper 50%-tlle. As such it clearly demonstrates conformhty with the Charity Commission Guidance on Public Benefit. Achlevements and performance The after-effects of Covid contlnued to affect Tweed, although the rules appllcable were subsequently modifled and eventually residents were able to resume normal adivities. Unlortunately thi5 resulted In a case of Covld whlch spread to both resident5 and staff. However due to the uptake of the vacclne the Cases were rnild and the care glven by the Manager and stsff of the Home meant that no addltlonal medical care vms required. The outbreak was short-lived and the morale of the Home has remained high. The Trustees conrlnued their monthly meetings. The retirement of the long-servln8 Chair of Trustees was regretfulty accepted and a new Chalr of Trustees was appointed. Two new Trustees were also appolnted. The programme of repalrs and maintenance contlnues. Ourlng the year the following work has been carrled out.. Upgradlng of flre doors Rooflng repalrs • Structural inspertion ol the stonework was carried out leading to replacement stonework on the front tsvo bays. Updating of the heating System and replacement of the boilers Replacement of white goods as necessary New nurse call panel installed A new Artivities Co-ordlnator ha5 been appointed and is involving the re5ident5 in a variety of artivities. New residents have come to the Home durlng thSs year to fill vacancies which have sadly occurred. They have settled well, and Tweed retains its comfortable family etho5. The value of Investments held by the charity has been maintslned. The income yield from those investments was 3.1%12023.. 3.7%).
THE EMILIE GALLOWAY HOME OF REsr TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Flnancl?I revlew During the year. the charity made a deficit of £5,671 compared to a deficit of £27,574 in the previous year. Reserves Pollcy In order to ensure that the charity could recover from a catastrophic incident such as fire or flood, it 15 the policy of the charity to maintain busine55 interruption insurdnte cover over an Indefnnlty period of 24 months, It Is a150 the policy of the charity that reserves should be maintalned at a level sufficient not only to ensure that it w511 be able to continue the charity's current attrrflties In the event of a significant drop in funding. but that in the event of a catastrophe the redundancy costs of all but a mlnlmum of key staff could be met, the Cost of which would be circa £lOO,000. The charlty's reserves are represented by Net Current Assets of £28,763. However. the Flxed Asset Investments wlll be reallsed If funds are requlred to support the Charity's artlvity of operatln8 a rest home. Flxed A55et Investment on 31 March 2024 had a market value of £322,408. The trustees have declded to deslgnate the flxed assets and investments as these are requlred for long term operation5 and income generation. This leaves unrestricted reseryes at £28,763 12023: £55,635) and the trustees will work on buildin8 this up to the £IOO,000 needed. In order to prevent the Investments havlng to be reallsed. Investment Pollcy It is the pollcy of the Charlty to maintain the value of its reserves in real terms and to maximlse Income from them wlthout taklng any undue r15k. Fixed asset Investments Increased by £2,202, th15 is attributed malnly to shares dlsposal of £9,474 and a posltlve share revaluation of £11,354. a 3.5% rise. The Trustees remaln In Close and regular consultstion with their financial advisor and continue to invest wlsely and safely. Rlsk Factors The oblective of the ¢harity's Rlsk Policy is to provide 8uidance on managlng organ15ational rlsk to support the achlevements of strateg1¢ obSe¢tives, the protection of beneflciaries, staff and buslness assets and to ensure the continuation of business operations and financial sustainability. The policy. in line wlth Charky Commission Guidance CC26, provides a framework to: Define risk 8ovemance Identify principal risks Asse5S thelr potential impact and likelihood Develop mitigating strategies and action5 Monitor and review risk activitie5 Communicate and report risks
THE EMILIE GALLOWAY HOME OF REST TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for Ire perlods The Trustees intend to continue, in accordance with the provi5ion5 of the Emillie Galloway Trust as set out i her Will, to provide a residential and respite home for the elderly. With an aging population and in a reglon popular with retired people, the need for places in care homes Is steadSly increasin8. However in order to maintaln the good reputation withln the community and full occupancy it Is planned: To contlnue to provlde a safe and comfortable home where residents can relax within the indivldual personal space of their rooms and the friendly and attractive Communal spaces. To contlnue to develop and retain a friendly. efficient and hlghly trained workforce. To contlnue to monitor the slone faclng to the bulldlng and make any necessary repalrs. To contlnue to encourage resldents to maintain their involvement with the communlty To refine the environmentsl pollcy and to continue to make every effort to be as eco-frlendly as Possible. Structurn, 8overnan¢e and mana8¢ment The Home was established by the Wlll of the late Ella Galloway who dled In 1930, and reglstered wlth the Charity Comm1$51on on 23 September 1962 under re8i5tration number 205867. The legal and admSnistrative inforrnation page gives detalls of the Charl5 prlncipal address, bankers and prlnclpèl adviser5. The trustees who served during the year and up to the date of 518nature of the flnanclal Statements were: Mrs R G Cameron (Resigned 30 April 20231 Mrs E M Broome MrMVWalker Mrs S Hopkins Mrs E Pllley Mrswise (Appolnted 22 February 20241 (Appointed 22 February 2024) The Home is admlnlstered by the Trustee5 who are appointed as requlred and who meet monthly to revlew the Home's actlvitle5 and re5uIt5, to discuss new prolects and to generally support the work of the staff and well as meetlng the resldents and to make policy decislons. The trustees, report was approved by the Board of Trustees. Mrs E M Broome Trustee Date:...
THE EMILIE GALLOWAY HOME OF REsr STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees are responsible for preparing the Trustees, Report and the flnancial statements In accordance with applicable law and United Kingdom Accountlng Standards {United Kingdom Generally Accepted Accounting Prartlcel. The law applicable to charltle5 In England and Wales requires the trustees to prep?re financial statements for each flnanclal year whlch 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 thai year. In preparin8 these financial ststements. the trustees are required to: - select suitable accounting policie5 and then apply them ¢onsistentty: - observe the methods and prlnclples In the Charlties SORP. make judgements and estimates that are reasonable and prudent: state whether applicable accountin8 Standards have been followed, subject lo any materlal departures ¢Jls¢losed and explalned In the flnanclal statements.. and prepare the financial statements on the golng concern basls unless it Is inappropriate to presume that the charlty wlll contlnue In operatlon. The trustees are responsible for keeplng sufflclent accounting record5 that disclose with reasonable accuracv at any tlme the flnanclal posltlon of the charity and enable them to ensure that the financlal ststement5 comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulatlons 2008 and the provi5i0ns of the trust deed. They are also responslble for safeguardlng the assets of the charity and hence for takln8 reasonable steps foi the prevention and detertion of fraud and other irre8ularitie5.
THE EMILIE GALLOWAY HOME OF RESr INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE EMIUE GALLOWAY HOME OF REST I report to the tru5tee5 on my examlnation of the financial statements of The Emilie Galloway Home of Rest Ithe ¢harityl ft*r the year ended 31 March 2024. ResponslbllStie5 and basls of report A5 the trustees of the chority you are responslble for the preparation of the flnancial statements In accordance with the requlrements of the Charities Art 2011 (the 2011 Act). I report In re5pert of my examination of the chariVs financial statements carried out under sectlon 145 of the 2011 Art. In carryin8 Out my examination I have followed all the applicable Dlrertlons glven by the Charity Commission under sertion 14515llbl of the 2011 Act. My examlnatlon was carried out in accordan¢e wlth the General Dlrections given by the Charlty Commlsslon, An examlnatlon Include5 a vIeW of the accounting records kept by the Charlty and a comparlson of the account5 presented with those records. It also Includes consideration of any unusual items or disclosures in the accounts, and seekln8 explanation from you a5 Trustees concerning any Such matters, The procedure5 undertaken do not provide all the evidence that would be required in an audit and consequently no oplnion Is given as to whether the accounts present a 'true and fair view, and the report Is Ilmlted to th0 matters set out In the next ststement. Independent examlner'$ statement Since the charity'5 gross Income exceeded £250,OCQ your examiner must be a member of a body Ilsted In sectlon 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am member of ACCA, which Is one of the Ilsted bodies. Your attentlon Is drawn to the fact that the charity has prepared financial statements in accordance wlth Accountin8 and Reportln8 by Charities preparing their accounts In accordance with the Flnanclal Reportlng Standard applScable in the UK and Republic of Ireland IFRS 1021 In preference to the Accountlng and Reportin8 by Charities.. Statement of Recommended Practice issued on l April 2005 whlch Is referred to in the extant regulations but has now been withdrawn. l understand that thls has been done in order for financial Statements to provlde a true and fair view in accordance wlth Generally Accepted Accounting Practice effective for pOrting periods be8innin8 on or after I january 2015. I have completed my examlnatlon. I conflrm that no matters have come to my attentlon In connection wlth the examlnatlon glving me cause to believe that in any material respect.. accountlng records were not kept in respett of the charity as requlred by section 130 of the 2011 Act; or the financial Statements do not accord with th05e records; or the finoncial statements do not comply with the applicable requirements conceming the form and content of accounts set out in the Charltles (Accounts and Reportsl Regulations 2008 other than any requlrement that the accounts give a true and fair view which is not a matter considered a5 part of an independent examinatlon.
THE EMILIE GALLOWAY HOME OF REST INDEPENDENT EXAMINER'S REPORT (CONTINUED) TO THE TRUSTEES OF THE EMIUE GALLOWAY HOME OF REST I have no concerns and have come across no other matters In connection with the examination to which attention should be drawn in thls port In order to enable a proper understanding of the flnancial statements to be reached. Nathan Coker FCCA Prlce & Company 30-32 Glldredge Road Eastbourne East Sussex BN214SH
THE EMIUE GALLOWAY HOME OF RESr srATEMENT OF FINANCIAL ACTIVMES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrfrted Vnrestrlctsd fvnds funds 8enernl desl8nated 2024 2024 Totsl Unre5trlcted Unrestrlcted fvnd5 tunds generdl desl8nated 2023 2023 Totsl 2024 2023 Notes Donations and legacie5 Charltable actlvltles Investments 861 832,490 13.084 861 832,490 13.084 2,804 733.071 12.444 2,804 733,071 12,444 Totsl Income 846,435 846.435 748,319 748,319 Charitable actlvitSe5 850,838 12.767 863.605 749,435 12,289 761,724 Other io 639 639 Total expendltur• 850.838 12,767 863,605 750.074 12,289 762,363 Net gainslllossesl on Investments li 11,499 11,499 113,5301 113,5301 Net OutIng resources belore trnnslers 14,4031 11,268) 15,671) 11,755) 125,8191 127,5741 Net oirtgolng resources before trnnsfers 14,4031 11,2681 15,6711 11,7551 125,8191 127,5741 Gross transfers beiween funds 122,4691 22.469 123,1261 23,126 Nel movement In funds 126,8721 21.201 15,6711 124,8811 12,693} 127.5741 Fund balance5 at l April 2023 55,635 406.589 462,224 80,516 409,282 489,798 Fund balances at 31 M¥rth 2024 28,763 427.790 456.553 55,635 406.589 462,224 The statement of financial activities includes all gains and losses reco8nised in the year. All income and expendlture derive from contlnuing artivities.
THE EMILIE GALLOWAY HOME OF REST BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Flxed assets Tangible assets Investments 105,382 322,408 86,383 320,206 14 427.790 406,589 Current assets stocks Debtor5 Cash at bank and In hand 15 16 2.896 10.352 53.303 2,379 9,796 88,814 66,551 100,989 Credltors: amounts fallln8 due wiihln one year 17 137.7881 145,3541 Net current a55ets 28,763 55,635 Total assets less current Ilabllltles 456.553 462,224 Income funds Unrestricted funds- desl8nated General unrestrlrted funds 19 427.790 28.763 406,589 55,635 456,553 462,224 The financial statements were approved by the Trustees on.. Mrs E M Broome Trustee
THE EMIUE GALLOWAY HOME OF REST srATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operntlng •rti¥itles Cash absorbed by operations 126,1261 (17,1981 Invertlng artlvltles Purchase of tangible flxed assets Proceeds on dlsposal of investment5 Investment income received 131,7661 9.297 13,084 {43,1101 19,345 12,444 Net ¢a$h used In Invertlng actlvltles 19,3851 111,3211 Net cash used In fln•Th¢ln¥ artlvltl¢s Net decrease In ¢a$h and cash equlvalents 135.5111 128,5191 Cash and cash equivalents at be8lnnln8 of year 88,814 117,333 Cash and ash equlyalents at end of year 53,303 88,814
THE EMILIE GALLOWAY HOME OF REsr NOTES TO THE FINANCIAL 5fATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 AccouThling pollcles Charlty Informatlon The Emilie Galloway Home of Rest is a charitable trust. 1.1 A¢¢ountln8 eonventlon The Financial statements have been prepared in accordance wlth the Charity's governing document, the Charities Act 2011 and "Accounting and Reportlng by Charlties.. Statement of Rewmmended Proactlve applicable to charltles preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffe¢tive l January 20191" The charlty is a public Benefit Entlty a5 defined by FRS 102. The flnanclal ststements have departed from the Charities IA¢counts and Reports) Regulations 2C118 only to the extent requlred to provide a true and fair view. This departure has involved followlng the Statement of Recommended Practice for charitles applylng FRS 102 rather than the verslon of the Statement of Recommended Prartice whlch Is referred to in the Regulations but whSch has slnce been withdrawn. The financial statements are prepared In sterlln& which Is the funrtlonal currency of the charlty. Monetary amounts In these flnanclal statements are rounded to the nearest £. The accounts have been prepared under the historical c05t convention, modified to Include investments at falr value. The prlnclpal accounting policies adopted are set out below. 1.2 Goln8 toncern At the tlme of approvlng the financial Statements. the trustees have a reasonable expectstlon that the charity has adequate resources to continue in operatlonal exlstence for the foreseeable future. Thu5 the trustees contlnue to adopt the goln8 concern bas15 of accountlng in preparlng the flnancial statements. 1.3 Charltablo fvnds Unrestricted fLtnds are avallable for use at the dlscretion of the trustees In furtherance of their charltable oblectSves. Re5trirted funds are Subject to speclfic condltlons by donors or 8rantor5 as to how they may be used. The purposes and uses of the restrlrted fund5 are set out in the notes to the financlal statement5. 1.4 Income Income 15 recogni5ed when the charity is le8ally entitled to it after any performance conditlons have been met, the amounts can be measured lIablY, and ir Is probable that income will be received, Income from charitable activities conslsts of receipts from residents whl¢h are recognlsed when recelvable. -io-
THE EMILIE GALLOWAY HOME OF REST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policie5 (Continued) Cash donations are reco8nised on receipt. Other donations are recognlsed once the Charity has been notified of the donation. unless performance condition5 require deferral of the amount. Income tax recoverable In relatlon to donatlons recelved undef Gift Ald or deed5 of covenant is recogni5ed at the time of the donation. Legacies are recognised on receipt or otherwlse 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 Expendlture Llabilitles are recognised as expenditure as soon as there is a le8al or construrtlve obli8atlon commlttln8 the charlty to that expenditure, It Is probable that settlement will be requlred and the amount of the obligation can be measured reliably. Expendlture Is recognlsed In the perlod In whlch the costs are incurred. It includes attributable VAT wltch cannot be recovered. 1.6 Tan8lble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at C05t or valuatlon, net of depreclatlon and any impalrment losses. Depreclation Is re¢o8nised so as to write off the cost or valuation of assets less their resldual values over thelr useful live5 on the following bases: Freehold Property Imrovement to fehOld property Flxtures, fittln8s & equlpment 100 Years 20 years 10 Years and 5 Years The 8aln or loss arlsing 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/lexpenditurel for the year. Assets below the value of £100 are not capitslised. 1.7 Flxed aet invertment$ Flxed asset Snvestments are InStlally measured at trnnsactlon prlce excludlng transactlon costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net Income/lexpendtturel for the year. Transaction costs are expensed as incurred. li-
THE EMILIE GALLOWAY HOME OF RESr NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢countln8 poll¢les Icontlnued) 1.8 Impalrment of flxed assets At each reporting end date. the charity revlews the Carln8 amounts of its tangible assets to determine whether there Is any Indlcatlon that those assets have suffered an impairment 1055. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the Impalrment loss {If anvl. 1.9 St¢xks Stocks are stated at the lower of cost and estimated selling price less costs to complete and Sell. 1.10 Cash and cash equlvalents Cash and cash equivalents include cash In hand. dep051t5 held at ¢all with banks, other short-term Ilquld Investments wlth orlglnal maturitles of three months or less, and bank overdrafts. Bank overdraft5 are shown wlthin borrowin85 in current liabilities. 1.11 Flnanclal Instruments The charlty has elerted to apply the provisions of Sectlon 11 'Baslc Financlal Instruments, and Sectlon 12 '0ther Flnanclal Instruments Issues, of FRS 102 to all of its financial instruments. Flnanclal in5trvments are CognISed In the chèrfty's balance sheet when the charlty becomes party to the contractual provlsSons of the instrument. Flnanclal assets and Ilabilltles are offset. wlth the net amounts presented In the flnanclal ststements, when there15 a legally enforceable rlght to set off the recognised amounts and there Is an intentlon to settle on a net basis or to realise the asset and settle the liablllty slmultaneouslv. Baslc financial assets Baslc flnanclal assets, whlch Include debtors and cash and bank balances, are initially measured at tran5actlon price including transaction costs and are subsequently carrSed at amortlsed cost uslng the effectlve Interest method unless the arrangement constitutes a financlng transactlon, where the transaction 15 measured at the present value of the future recelpts discounted at a rnarket rate of interest. Finan¢ial assets classified as receivable within one year are not amortised. .12-
THE EMILIE GALLOWAY HOME OF RESr NOTES TO THE FINANaAL 5fATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountln8 pollcles {Contlnued) Basic flnanclal Ilabllltles Basic financial liabilitles, includin8 creditors and bank loans are initially recognlsed at transaction price unless the arran8ement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments dlscounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt Instruments are subsequently carrled at amortlsed cost, uslng the effective interest rate method. Trade credltors are obllgatlons to pay for goods or services that have been acqulred In the ordlnarv course of operations fTom supplier5. Amounts payable are ¢lassified as current liablllties If payment Is due within one year or less. If not. they are presented as non-current Ilabllities. Trade creditors are recognlsed Inltlally at transactlon prlce and subsequently measured at arnortised cost using the effective interest method. Dere¢ognlt5on of flnanclal Ilabilitles Flnanclal Ilabilities are derecognised when the charitys contractual obllgatlons expire or are discharged or cancelled. 1.12 Employee benellts The cost of any unused hollday entltlement 15 recogn15ed In the perlod In whlch the employee'5 servlces are received, Termination benefits are recognised immediately as an expense when the charlty is demonstrably commltted to terminate the employment of an employee or to provlde termlnation benefit5. 1.13 Rellrement ben•ffts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
THE EMILIE GALLOWAY HOME OF RESr NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE YEAR ENDED 31 MARCH 2024 Crltlcal accountlng e5tSrnate5 and Judiements In the appllcatlon of the charlty's accounting pollcies, the tStee$ are requlred to make judgements, estlmates and assumptSons about the carrying amount of assets and liabilities that a not readlly apparent from other 50urce5. The estimates and assoclated assumption5 are based on historlcal experience and other factors that are considered to be relevant. Actual results may differ from these estimate5. The estimates and underfying assumptions are reviewed on an ongoing basis. Revlslons to accountln8 estimates are recognised in the perlod In which the estimate is rev15ed where the revision affect5 onlv that perlod, or In the perlod of the revision and future perlods where the revlsion affect5 both current and future perlods. Crltlcal Judiements There are no Judgements made by the Trustees lapart from those Involvlng estlmatesl that have a $18nlficant effect on amounts recognised In the flnancial statements. Key Sources of ertlmatlon uncertalnty The estlmates and assumptlons which have a $18nlfl¢ant rlsk of causln8 a materlal adjustment to the carrying amount of assets and Ilabllltles are as follows: Oepreclatlon and resldual values The Trustees have reviewed the asset Ilves and assoclated resldual fdlues of freehold propertles and have concluded that asset lives and resldual values are appropriate. Income from donatlons and le8ades Unrertrlrted Unrestrkted fund5 funds 2024 2023 Donations and gifts Grants received 861 1,180 1,624 861 -14.
THE EMIUE GALLOWAY HOME OF REST NOTES TO THE FINANaAL sfATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from charitable artivities Unrestritted Unrestritted funds funds 2024 2023 Recelpts from re51dents 832,490 733,071 Income from Investments Unrestrlcted Unrestrlcted lund$ fund$ 2024 20Z3 Investment Income Interest receivable 10,143 2.941 10,222 2,222 13,084 12,444 15-
THE EMIUE GALLOWAY HOME OF REST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charitable activities Provlslon of Provlslon of care 2024 2023 Dlrecl costs Staff costs Oepreciation and impairment Agency costs Openlng Stock Closin8 Stock Food Household requlsltes and cleanlng Repair5 & renewa15 Llght & Heat Telephone Sundry Expenses Subscrlptlons and inspection fees Staff trainln8 Water rates Insurance Rates 667,307 12,767 2.924 2,379 12,8961 38,140 10,355 50,054 40,189 3,018 4.010 3,919 1,656 2,644 10,060 1,923 591,562 12,289 4,046 2,343 12,3791 37,802 9,943 31,714 Z2,835 5,238 5,571 3,908 1.697 2,606 9,152 1,833 848,449 740,160 Share ol support and governan¢e ¢osts {see note 71 Governance 15,156 21,564 863,605 761,724 Analysls by lund Unrestricted funds- gener41 Unrestricted funds- designated 850,838 12,767 749,435 12.289 863,605 761,724 16.
THE EMILIE GALLOWAY HOME OF REST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Governance ¢osts costs 2024 Support Governance C05t5 costs 2023 Accountancy and Independent examination Accountancy Legal and professional Advertisin8, printin& statlonery Bank Charges Stockbroker char8es 6,120 2,808 6,120 2,808 3,629 2,994 7,374 3,629 2,994 7,374 2.371 781 3,076 2.371 781 3,076 3,480 810 3,277 3,480 810 3,277 15,156 15.156 21.564 21,564 Analy5ed between Charitable activities 15,156 15,156 21,564 21,564 Governance Costs Includes payments to the Independent examlners of £1.500 12023.. £1,500) for Independent examlnatlon fees and £7,00812023; £4,374) for other service5. Trustees None of the trustees lor any persons connected wlth them) received any remuneratlon or beneflts from the charity during the year. Ourin8 the year S Hopkins was reimbursed £88.50 for travel expense512023: none). Trustees indemnlty insurance of £88012023 - £881} was paid durin8 the year. Employees The average monthly number of employees durin8 the year was: 2024 Number 2023 Number Home Staff Admin Staff 30 31 Total 32 33 -17-
THE EMILIE GALLOWAY HOME OF REST NOTES TO THE FINANCIAL STATEMEMfs ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Employees Icontlnued) Employment Costs 2024 2023 Wa8es and salaries Soclal security costs Other penslon costs 610.920 42.880 13.507 542,501 37,146 11,915 667,307 591,S62 There We no employee5 whose annual remuneratlOD was more than £60,OIXI. Rernuneratlon of key management pers¢)nnel The remuneratlon of key management personnel was as follow5.. 2024 2023 Ag8regate compensation 46,043 41,895 10 Other Tot41 Unrestrlcted funds general 2023 2024 Net105s on disposal of tsngible fixed assets 639 639 -18-
THE EMILIE GALLOWAY HOME OF REST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Galns and losses on Investments Unrestrirted Unrestricied fvnds funds desl8nated deslgnated 2024 2023 Gains/llossesl arlsing on: Revaluatlon of investments Sale of investments 11.354 145 113,7661 236 11,499 113,5301 12 Thxatlon The charity Is exempt from taxation on its activities because all its Income Is applied for charltable purposes. 13 Tanzlble flmed assets Frn•hold ImYov•m•n¢ t• Flxlur••. Prnprty fr••h¢ld fftiing• 1 prop•rty •qulpm•nt Totsl Cost At l Aprll 2023 Addltions Di5P05als 21,452 266.123 29.452 138.763 2.314 17.4161 426,338 31,766 17,4161 At 31 March 2024 21,452 295,575 133,661 450,688 Depredatlon and lrnpalrnient At l April 2023 Depreciation charged in the year Eliminated in respect of disposals 4.942 215 210,753 6,485 124,260 6,067 17,4161 339,955 12,767 17,4161 At 31 March 2024 5,157 217,238 122.911 345.306 Carrylnz amount At 31 March 2024 16,295 78,337 10,750 105,382 At 31 March 2023 16.510 55,370 14,503 86,383 19-
THE EMILIE GALLOWAY HOME OF REST NOTES TO THE FINANCIAL StATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Flxed asset Investments Llsted Inveslments Cash In portlollo Totsl Cost or valuatlon At l April 2023 Valuation changes Net cash movement Disp05als 315,193 11,498 5,013 320,206 11,498 322 19,6181 322 19.6181 At 31 March 2024 317,073 5,335 322,408 Irryln8 amount At 31 March 2024 317,073 5,335 322,408 At 31 March 2023 315,193 5,013 320,206 15 Stocks 2024 2023 Raw materials and consumables 2,896 2.379 16 Debtors 2024 2023 Amounts fallln8 due wlthln one year. Other debtors Prepayments and accrued income 2.336 8,016 4,153 5,643 10,352 9,796 -20-
THE EMILIE GALLOWAY HOME OF REST NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Creditors: amounts falling due within one year 2024 2023 Other taxation and soclal securlty Other creditors Accruals and deferred income 9,958 9,039 18,791 8,708 17,242 19,404 37.788 45,354 18 Rrtlrement benefft schemes 2024 2023 Deflned contrlbutlon sthemes Charge to proflt or loss In respect of defined contribution schemes 13,507 11,915 The charity operate5 a defined Contrlbution pension scherne for all quallfylng employees. The assets of the scheme are held separately from those of the charity In an Independently administered fund. -21-
THE EMIUE GALLOWAY HOME OF REST NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Unrestrirted funds. deated These are unrestricted funds which are materlal to the charlty's actlvitles. At l Aprti 2023 Incomlns resource$ Resources expended Transfers Galns and At 31 March losses 2024 Flxed assets and investment5 fund 406,589 112,7671 22.469 11,499 427,790 Prevlous year: At l Aprfl 2022 Incomlni resources Resources expended Transfer5 G•ln$ and At 31 March losses 2023 Fixed assets and investments fund 409,282 112,2891 23.126 113.5301 406,589 409,282 {12.2891 23.126 113,5301 406,589 The Fixed a55et and Investments fund contsins the value of the flxed a55ets, whlch are requlred for operatin8 activities, and the investments, which are required for Income generation. The trustees have agreed to ring fence these monies to clearly show the element of reserves which 15 available for unrestrlcted use. ZO Restrltted funds There Is no restrfcted Income recelved in the year. -22-
THE EMILIE GALLOWAY HOME OF REsr NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Unrestricted funds The unre5trirted funds of the charlty comprlse the unexpended balances of donations and grants which are not subject to speclfl¢ condition5 by donors and 8rantors as to how they may be used. At l April 2023 Incomln8 resources Resources expended Transfers At 31 March 2024 General unrestricted fund 55,635 846,435 1850,8381 122,4691 28,763 Prnvlous year: At i Apdl ZOZ2 In¢omln¢ resources Resourns empended Transfers At 31 MaTch 2023 General unre5trlrted fund 80,516 748,319 1750,074) 123,1261 55,635 22 Analysls of net assets between funds Unrestrlrted Unrestrlcted funds funds ieneril de51gnated 2024 2024 Totsl 2024 At 31 March 2024: Tangible assets Investments Current a55et511li3bS1itiesl 105,382 322,408 105,382 322,408 28,763 28,763 28,763 427,790 456,553 -23-
THE EMILIE GALLOWAY HOME OF REST NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Anatysl$ of net assets between funds Icontlnued) Unrestrlrted Unrestrlrted funds fund5 8eneral desl8nated 2023 2023 Totsl Z023 At 31 March 2023: Tangible assets Investments Current a55etsllliabllitlesl 86,383 320,206 86,383 320,206 55,635 55,635 55.635 406,589 462,224 23 Related yrty trnn5actlons There were no disclosable related party transaction5 during the year12023- none). 24 Analysis ol chanies In net fvnds The charfty had no materlal debt durSng the year. 25 Cash generated from operntlons 2024 2023 Deficit for the year 15,6711 127,5741 Adjustments for: Investment Income recognised in statement of financial activities (Galnllloss on disposal of tangible fixed assets Gain orb disposal of investments Foir value gain5 and105ses on Investments Depreciation and impalrment of tanglble fixed assets 113,0841 112,4441 639 12361 13,766 12.289 11451 111,3541 12.767 Movements in working capitsl.. Ilncrea5el in stocks Ilncreaselldecrease in debtor5 IDe¢reasel In ¢redltor5 15171 15561 17,5661 {361 6,016 19,6181 Cash absorbed by oporatioll$ 126,1261 117,1981 -24-