Nightingale Hammerson Annual Report and Financial Statements 30 September2024 Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 [left blank intentionally] Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 CONTENTS Reports Reference and administrative information Professional advisors Chairman's report Report of the directors of the corporate trustee Independent auditor's report 28 Accounts Consolidated statement of financial activities 32 Balance sheet 33 Consolidated statement of cash flows 34 Notes to the financial statements 35 Nightingale Hammerson Chartty Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 Reglstered Name Registered Charity Number Nightingale Hammerson 207316 governed by a scheme made by the Charity Commission on 30 March 2012 Principal office 105 Nightingale Lane London SW12 8NB 020 8673 3495 020 8675 2258 www.ni htin Telephone Facsimile Website mmer50n. Life Patron Dame Vivien Duffield DBE President HaNey Rosenblatt Ice Presidents Patricia Beecham Susan Grant Corporate Trustee Nightingale Hammerson Trustee Company Limited Non-Executive Director5 and Board Member5: Chairman Joanne Black Co-chair (Resigned 12 October 20241 Paul Althasen Co-chair Honorary Treasurers Russell Nathan Other directors Carolyn Balcombe Daniel Dayan {Resigned 2August20241 Gill Livingston lan Grabiner Joanne Black (Resigned 12 October2024) Keith Barnett Melvin Lawson Paul Althasen Rosalind Taylor Russell Nathan Steven Sharpe Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 REFERENCE AND ADMINISTRATIVE INFORMATION Senior Leadership Team: Chief Executive Officer Director of Finance Dirertor of Care Head of Human Resources Director of Operations Director of Research, Innovation & Community Engagement Jenny Pattinson Chelsea Bassom Chipema Chitambala Roy Chow Ed Davidson Nuno Santos Lopes PROFESSIONAL ADVISORS Auditor Haysmac LLP 10 Queen Street Place London EC4R IAG Prlnclpal bankers National Westminster Bank plc 98 Wandsworth High Street London SW18 4ZD Investment managers Meridiem Investment Management Ltd Riverside House 2a Southwark Bridge Road London SEI 9HA Cazenove Capital l London Wall Place London EC2Y SAU Solicitors Womble Bond Dickinson (UK) LLP 4 More London Riverside London SEI 2AU Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 CHAIRMAN'S REPORT Nightingale Hammerson has completed another productive and successful year, filled with meaningful progress and continued dedication to exceptional care. This year, we experienced some changes within ourtrustee structure. My Co-chair, Joanne Black, made the difficult decision to step down. Jo has been an invaluable asset to the charity, and l extend my heartfelt gratitude for her unwavering commitment and support-not only to me personally but also to Nightingale Hammerson, our Residents, and our care teams. She played a crucial role in making our homes a welcoming place for older members of the Jewish community and was instrumental in supporting Jenny Pattinson as she stepped into her role as Chief Executive. Jo also played a key role in the launch of our inaugural Reach by Nightingale Hammerson programme. After 12 year5 of dedicated Service and exceptional leadership as both Trustee and Chair of the Board, I am delighted to announce that Melvin Lawson has been appointed as President of Nightingale Hammerson. Melvin's wealth of experience, strategic vision, and remarkable fundraising success have significantly shaped our organisation. His leadership was pivotal during the challenges of the Covid-19 pandemic and the redevelopment of Hammerson House, Wohl Campus, As President, he will continueto offer his wise counsel and support me in my role as Chair, Additionally, l am pleased to recognise Harvey Rosenblatt MBE'sextraordinarydedication to Nightingale Hammerson. Harvey has been appointed Honorary President in recognition of his longstanding service as President. His leadership over more than two decades, including his tenure as Chair and Trustee, has been instrumental in many key achievements, particularly the merger of Nightingale and Hammerson and the redevelopment of Hammerson House. His unparalleled experience will continue to benefit our charity, and we owe him our deepest gratitude. Navigating Challenges in Social Care The past year has presented significant financial challenges, particularly following last year's budget. Social Care has long been overshadowed bythe NHS in terms of fundin& and despite our hopes for long- awaited reform, the recent Autumn budget was deeply disappointing. There was a glaring absence of support for the essential services our sector provides on behalf of the NHS. Instead, we face a considerable increase in operating costs due to a substantial rise in National Insurance Contributions (an additional £5QOkl and under-investment in Local Authority and Continuous Health Care funding for our Residents. These challenges come at a time when we have onlyjust begun to recoverfrom the pandemic. and the cost of care continuesto rise. The disparity between the actual costofcare and availablefunding remain5 Stark. The ongoing cost-of-living crisis has further impacted our expense5 for essentials such as utilities and food supplies. Additionally, the recruitment market continues to struggle, with thousands of vacancies across the care sertor. Despite these hurdles, we remain steadfast in our commitment to delivering exceptional care. Underthe expert leadership of ourchief Executive, Jenny Pattinson, and ourdedicated Senior Leadership Team. we are confident in our ability to navigate these challenges and continue providing outstanding support forour Residents and staff. Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 Septeimbef 2024 Innovation and Community Engagement Nightingale Hammerson has always been at the forefront of innovation in care. Key initiatives such as our Intergenerational Programme, Care Home Education Centre, and our successful Care Home Research Forum, now in its fifth year, continue to enhance our Service delivery. Last year, we appointed Nuno Lopes, our former Director of Care Service5, to the role of Director of Research, Innovation, and Community Engagement. This appointment underscores our commitmentto extending our expertise beyond our care homes through our newly launched Reach by Nightingale Hammerson programme. This community engagement initiative aims to provide education and guidance to help older individuals maintain theirwell-being and independence at home for longer. With an ageing population and increasing care needs, many older adults face gaps in support. As fewer individuals receive local authority assistance, there is an urgent need to provide resources to help older membersof the Jewish community accessthe carethey require. Reach by Nightingale Hammerson seeks to bridge this gap by offering education and support on dementia, healthy ageing, mobility, nutrition, mental health, and carer well~being. Led by our expert professionals, this initiative will empower individuals and families with essential care-related knowledge and skills, extending our mission beyond our residential homes. Future Developments A key priority for our charity is the future investment in infrastructure at Nightingale House. The communal areas have not been refurbished in over 25 years, and an exciting redevelopment project is underway to upgrade the facilities and accommodation. This investment will ensure that our spaces remain fit for purpose, sustainable, and aligned with the evolving needs of our Residents. A shining example of our commitment to modern, high-quality care environments is the recently refurbished Wohl Household at Nightingale House. This beautifully renovated space accommodates forty Residents requiring dementia or nursing care. The newly designed space features stylish furnishings, ensuite showers, and contemporary colour schemes, fostering a warm and welcoming atmosphere. The improvements, including larger ensuite bedrooms, open-plan communal areas with natural light, and enhanced technology, have significantly improved the quality of life for our Residents and created exceptional working conditions for our care teams. The project has successfully preserved the heritage of the building while ensuring its sustainability for years to come. Antonio de A55is, Wohl Household Manager, shared hi5 thought5 on the renovation,"l am overjoyed with our newly completed renovation and am extremely proud of my tearn. they are strongly committed to delivering outstanding care to all our Residents. Recognising Excellence This year, Nightingale Hammerson has received multiple awards, affirming the excellence of our care, facilities, and dedicated teams. These accolades reflect our continuous pursuit of excellence in all areas of ourwork. l extend mywarmest congratulations to all recipients and am deeply proud to see ourteams recognised fortheir exceptional contributions, Please See page 14 fordetails. Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Account5 for Year Ended 30 September 2024 A Sincere Thankyou I would like to extend my heartfelt thanks to everyone who plays a role in delivering care and supportto our Residents and their loved ones. OurSLT, our staff, supporters, and generous donors make it possible for us to continue our mission. I look forward to working closely with my fellow Trustees and our Chief Executive, Jenny Pattinson, as we continue to strengthen Nightingale Hammerson's future. Paul Althasen Chairman, Nightingale Hammerson Nightingale Harnmerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE The directors of the corporate trustee of Nightingale Hammerson Iherein referred to as 'directors' or 'trustees'), who act as theTrustee Board ofthe Charity, presentthe statutory report and accounts forthe year ended 30 September 2024. These account5 have been prepared in accordance with the accounting policies set out on pages 34-39 and comply with the charity's governing document, applicable law5 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 United Kingdom and Republic of Ireland IFRS 1021. Our Corporate Structure Nightingale Hammerson's corporate structure comprises two active entities, both ultimately controlled by the directors of Nightingale Hammerson and included in the consolidated accounts. These are: Nightingale Hammerson, a registered charity, providing residential and nursing home facilities at two London sites, Nightingale House, in Clapham, and Hammerson House Wohl Campus, in Hampstead Garden Suburb; and Chalkford Limited, a company registered in England and Wales, whose business is property construction. The Charity also has one dormant entity namely, The Friend5 of Nightingale House. Our Charitable Purpose Nightingale Hammerson exist5 to be a leading provider of quality relationship-centred care for older Jewish people. We provide residential, dementia, nursing and palliative care seNices and treat all our residents With respect and dignity. Our aim is to provide holistic care and support in a safe and stimulating environment using dedicated and trained staff and volunteers. We do this through the operation of two residential and nursing care homes - Nightingale House, in Clapham, and Hammerson House, Wohl Campus. in Hampstead Garden Suburb. Nightingale House traces its origins back to 1840 in the East End of London. It moved to its current site in Clapham in the early 1900s and has continued to deliver excellent care. Nightingale House was purp05e-built to serve residents with residential, dementia, nursing and palliative care needs, either on a permanent basis or respite. The refurbishment of Wohl Household has been completed in December 2024. This refurbishment workwill extend to other areas ofthe home, startingwith Sampson Household which has been empty since August 2021. Nightingale House currently has 5 active households with the following maximum bed capacity: Households Dedicated Service Maximum Bed Capacity 45 45 15 40 26 171 Wine Sherman Osha Wohl Ronson Total Residential Residential Dementia Residential Nursin Dementia Nursin / Palliative Needs Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 REPORT OFTHE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED) Hammerson House was established some 55 years ago, thanks to an exceptional gift from Mrs Sue Hammerson CBE in memory of her late husband Lewis W Hammerson. For manyyears it was primarily a residential home although offering some nursing beds and sheltered housing. It was closed for redevelopment in 2017 and re-opened in 2021 as Hammerson House, Wohl Campus. It now providescare to those with residential, dementia, nursing and palliative care needs. Hammerson House, Wohl Campus, has 6 households with the following maximum bed capacity: Households Dedicated Service Maximum Bed Capacity 18 20 18 20 20 20 116 Isaac Wolfson Edith Wolfson Audre Pat Residential Residential Residential Dementia Residential Dementia /Nur5in Nursin Dementia Nursin I Palliative Care Needs Dementia oder Ronson Total Ourvisio Our Vision 15 that through Research, Continual Development and Innovation, we will be the leading provider of Outstanding Care and Support within the Jewish community. Our Mission Our Mission is to be the leading charitable organisation recognised for providing the best Relationship- Centred Care in the UK and to widely share our knowledge, skills, and expertise. Ourvalues Our values are Compassion. Respect, Excellence, Dignity, Integrity and Teamwork. Our Statement of Public Benefit In setting the aims of the charity, the directors have had regard to the guidance published by the Charity Commission in respect to the provision of public benefit by charities. Nightingale Hammerson is committed to providing the quality level of care to all older Jewish people in need, regardless of their personal financial status. A substantial proportion of residents are in receipt of local authority or other government funding and the Charity raises funds from its donors and benefactors in order to meet the ever-growing shortfall between government funding and the costs of quality care provision. Our Trustees The directors of the corporate trustee act as the Trustee Board of the Charity and their names are as set outon Page4. The Trustee Board meets formally at least five times a year. Between meetings, directors engage with the Charity, its volunteers and staff in many and varied ways, such a5 providing guidance on projects, raising funds, serving formally on committees or supporting new initiatives. Directors are appointed via proposal to the Nominations and Governance Committee and serve 3-yearly terms up to a maximum of 10 years {the firstyear of service 15 deemed an induction year). No director received any remuneration or expenses from the Charity duringthe year. Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 10 REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE {CONTINUED) Our Committees Thecharity's committee structure issetupto ensure itcan adapt and adequately respond tothe evolving challenges facing the charity and the adultsocial care sector, as a whole. The main committees of the Board are: Nominations Committee: Provides guidance on governance, lead on the recruitment of new directors {or trustees}, review5 terms of office, and leads on directors, induction, appraisal and training. Finance Committee: Oversees all financial matters including the budget setting, financial performance.financial planning and the operations and efficiencies committee which consists of SLT members only. Service& Quality Committee: Oversees service and quality assurance as well as volunteer and events programmes. Audit and Risk Committee.. Oversees the organisational risk assurance framework. It is also responsible for ensuring that the Board is apprised of the principal risks and plans are put in place to mitigate those risks. Nightingale House 2.0 Working Group: This committee oversees the major refurbishment project for Nightingale House. Investmentcommittee: Overseesthe investrnent portfolio and provides instruction to the investment managers in line with the charity's investment policy. Fundraising& Marketing Committee: Overseesthe planning and implementation of fundraising plans, marketing materials and communications externally to boost voluntary donations and capital fundraising income. The Board of Trustees may also on occasion, set up a task and finish group to provide support to the executive team and oversee the delivery of specific tasks, over a specific period oftime. Nightingale Harnmerson Charity Reg. No. 207316 Trustees Rei)ort and Annual Accounts for Year Ended 30 September 2024 11 REPORT OFTHE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED) Our Committees (continued} Directors, who served during the year, also served on the various committees of the Board as set out below. Every committee and group is supported by lay leaders who are also members of the committees and contribute a wealth of experience and expertise to their respective committees and l or groups. NOMS FINANCE CARE AUDIT& RISK NGH 2.0 INVESTMENT FUND- RAISING CAROLYN BALCOMBE GILL LIVINGSTON IAN GRABINER KEITH BARNETT MELVIN LAWSON PAUL ALTHASEN ROSALIND TAYLOR RUSSELL NATHAN STEVEN SHARPE Our People Thisyear, we had an average of 465 staff, across both homes. One of ourareas offocus was the retention and recognition of our arnazing people. With the challenges around the cost of living, it was important for the Senior Leadership Team to prioritise the introduction of the London Living Wage as a minimum for ourstaff. We also reviewed our benefits on offer and surveyed our people to see what is important to them and where we need to invest. This resulted in introducing a new benefits platform, Perkbox as well as initiating a project around the staff pension scheme. We are continuing to enhance the opportunities forourworkforce and supporttheir personal and professional development. OurVolunteer5 Volunteer participation was consiStentduring2023-2024 with 135-140 volunteers. Volunteers continue to provide essential support to improve the quality of life of our Residents. By the year end we had an average of 12 active volunteers daily with 50 active hours a day in both Nightingale and Hammerson House. This year we launched a newvolunteerstrategy with a 12-point delivery plan which include further developingthe volunteer programme. improve supportforthe volunteers and involve volunteers in making key decisions. A new Trustee led Volunteercommittee wasformed to supportthe delivery of the Volunteer Strategy. Nightingale Hammer50n Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 12 REPORT OFTHE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED) Remuneration of Our Senior Team Our Senior Leadership Team ISLT) form the key management personnel of the charity and are responsible for the charity's affairs on a day to day basis. Remuneration is benchmarked and set with reference to current market conditions so to ensure that the charity can recruit and retain high calibre staff. Annual pay reviews are approved by the Finance Committee. Employment Policy We strive to be an equal opportunity employer and apply objective criteria to a55e55 merit. We aim to ensure that nojob applicant oremployee receives lessfavourabletreatment on the ground5 of age, race, colour, nationality, religion, ethnic or national origin, gender, marital status, sexual orientation or disability. Selection criteria and procedures are reviewed to ensure individuals are selected, promoted and treated on the basis oftheir relevant merits and abilities. All employees are given equal opportunity and, where appropriate, special training to enable them to progress. Volunteers are coordinated bythe Volunteer Development Manager, with recruitment, management, training and supervision policies in place. Our Achievements Intergenerational Care Nightingale Housewas thefirst UK Care Home to open an onsite nurseryforchildren aged 2-5 years. The nursery has introduced a full one day programme each week in the concert hall for various intergenerational programme5 involving Residents, staff and both Nursery children and school age children from a local primary school. As always, there are daily programmes forour nursery children and residents to come together and join in fun and active things to do. Nightingale Hammerson and Apples & Honey Nightingale Education and Training now bring regular intergenerational one-day+ course5 to our own staff and external attendees. Nightingale House Nightingale House has retained its'outstanding, rating bythe Care Quality Commission (CQCI, following their inspection at the end of 2022. Nightingale House continues to be the only CQC Outstanding care home serving the older Jewish community in the UK and is currently undergoing a significant refurbishment programme to ensure the quality ofthe environment matches the quality ofcare. Hammerson House, Wohl Campus Hammerson House became fully occupied in December 2023. In order to keep at full or near full occupancy, we advertlse within the Jewish press and have strong relationships with the NHS discharge team5 and Local Authority Social work teams. Hammerson House provides residential, residential dementia. nursingdementia. respite, rehabilitative and palliative carefor up to 116 people. Education Nightingale Hammerson continues to be endorsed by Skills for Care for the delivery of our educational programmes. This recognises the quality of the education and highlights our commitmentto delivering education to all within the organisation. We are very proud of the educational development programme that is available to all staff, atwhatever level they mayjoin us. Should a staff memberwish to develop Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual AccoLJnts for Year Ended 30 September 2024 13 REPORT OFTHE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED) their career and skill set, our education team are able to take steps to SUPPOrt this financially and practically. Research Research is important to support our ethos of providing innovative and best care practice for all, supporting our residents and staff team on many levels. We partner with universities and senior health professionals to carry out in depth and important studies which directly relate to the provision of best care practice. To support this, we hold our annual Care Home Research Conference, which 15 now in its th 4 year. The conference showcases presentations from up to ten health professionals in Social care or education who reflect on recent research activities and findings. The conference 15 hybrid with a wide range of attendeesfrom health care settings, univer51ties, Care England and seniorofficials in social care, right through to our own staff teams. Therapies and Integrated Care We continually review our therapies provision so that it will best support the health outcomes for our residents. Our physiotherapists, occupational therapists, moving & handling specialist and associated therapies, a5SiStants are able to provide more one-to-one sessions for our residents, which also translates into a new form of income for the charity through our private therapie5 model. We have now welcomed four postgraduate Speech and Language Therapy students and are very pleased to now add our Clinical Psychologist and herstudents to ourwider range of support. Awards Nightingale Hammerson have received a number of awards between October2023 and September 2024, including winning The Nursing Times Workforce Summit & Awards Winner for Non-clinical Manager of the year, Roshni Shah. As well as an inspiring volunteer award at the National Dementia Care Awards 2024, the Intergenerational Ambassadors Award for our IG work, and the Compassion Award at the 3, Sector Care Awards. We have also recently been awarded the Chief Nursing Officer forAdult Social Care Team award foroutstanding Services to Social Care. Our Plans We have been providing exceptional care to the Jewish community for 185 years. Nightingale House is the only Jewish Home for older people in the UK to be rated Outstanding by CQC and we seek to continually build on our strengths and successes to remain a centre of care excellence. We do this by engaging with research, embedding best practice and continually leaning from others such as our collaborations with universities and senior health professionals. Importantly, we continue to put pressure on government and use our voice to keep social care on the agenda and to drive the much needed change and investment that is needed to ensure better care provision for all. We do this by embracing research and engaging with key Stakeholders such as Care England, National Institute for Healthcare Research INIHR) and Social Care NursingAdvisory Boards. Ourstrategic priorities, as approved by the Board, are as follows: l. Those we support will be atthe heart of all we do by being the exemplar of Relationship-centered Care {RCC) which will enrich our residents, lives Nightingale Hammerson Chartty Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 14 REPORT OF THE DIRECTORS OFTHE CORPORATE TRUSTEE (CONTINUED) Our Plans (continued) by sUPPOrting our volunteers and team members to deliver an exceptional quality of life for those we serve by exceeding expectations in the quality and delivery of meals by embracing the concept of 'professional love, in everything we do; this 15 demonstrated through showing kindness and compassion, devoting time and attention to people and mostly about creating connection through our shared humanity. 2. We will support and embed a culture of innovative care practice, research and education acr05S the organisation by investing in the environment in Nightingale House to ensure it meets and exceeds the changing needs of our residents and provides exceptional facilities for education. development and community engagement by embracing new technologies to enhance the lives of our residents and all those we are able to support by ensuring we maintain our reputation for providing the 'Best of Care, by continual improvement systems and delivering best practice. 3. We will embed strongfinancial stewardship to protectthe assets and future of the charityforthe benefitof the whole community. by telling the incredible stories about the value of what we do to generate income through various sources by delivering a culture of financial accountability ensuring we are receiving best value for money and operating efficiently by protecting and monitoringthe assets of the charity, ensuringthey are used to further our charitable objectives. 4. We will be a great organisation to work for by creating a people strategy thatwill trust, support and develop our peopleto achieve their goals and ambitions by looking after our people by supporting their wellbeing, personal and professional development, define their career paths and ensure fair pay and benefits by creating an inclusive, values led place to work where everyone is welcomed, celebrated and supported Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Er)ded 30 September 2024 15 REPORT OFTHE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED) Our Plans (continuedl 5. We will demonstrate our commitment to providing exceptional care by extending our skills and expertise to the wider community be a recognized centre of excellence for education and development in social care by working with innovative external partners by partneringwith experts in research and innovation by maximising our resources to scale up our offer to meet identified community needs. 6. We will deliver and maintain a high quality) safe and compliant environmentforthe benefit and wellbeing of all. by introducing a mindset of continuous improvement be measuring our output and evidencing our compliance with regulations and safety requirements. by ensuring all environments that residents and team members live and operate within provide a compliant, comfortable and safe place to receive and deliver the best service possible byrecognizingourresponsibilitytoreduceourcarbon footprintand protectthe environment for future generations by making wise, cost effective decisions that embed sustainable benefits for our residents and team member5. Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 16 REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED) Financial Review This review focuses on the year ended 30 September2024. At the end of the year, ourtotal income from our charitable activities was £21.6m, an increase of £2.6m from the previous year. Both homes were fully open throughout the year and Hammerson House was full in December 2023. Occupancy rates continue to be a focus of the Senior Leadership Team, particularly at Nightingale House which needs to be managed carefully alongside the refurbishment project. At the year end, we had 98 residents at Nightingale House and 110 at Hammerson House, Wohl Campus, a decrease of 2 and increase of 7 respectively. As expected, the overall increase in resident numbers resulted in increases to our operational costs, including staff ing costs, catering and accommodation costs. Staff costs account for 590/0 of our total operational expenditure12023.' 60Q/o). Our average staff number decreased slightly from 499 last year to 465. Ourvision continuesto beextendingexceptional care servicesto Hammerson House,Wohl Campus, and delivering personalised Relationship Centred Care across both homes. To maximise resources, we adopted a cross-site working policy for some administrative staff and the Senior Leadership Team. Our net expenditure before transfers and gains at the end of the year was £1.6m {2023- net expenditure £1.9ml. This upturn in performance is due to a successful fundraising year, in particular a number of legacies left to the charity. Fundraising generated £4.4m in donations and legacies (2023.. £3.9ml at a cost of £0.7m {2023.' £0.6ml, means that for every pound spent we raised £6.5012023: £6.36). 2024 2023 Incorne from care provision Cost of care provision including depreciation Government related infection control and furlough grants Otheroperating income Operating deficit 21.6 (28.0) 19.1 {25.0} (6.2} {5.81 Net revenue fundraising income (excluding legacies) Legacies Net income from investments Profit on disposal of fixed assets Deficit before investment gains and capital fundraising (1.5) {2.0) Realised gains from investments Unrealised gains/ (losses} from investments Actuarial gains from pension scheme Nightingale Hammerson Chartty Reg. No. 207316 TrLlStees Report and Annual Accounts for Year Ended 30 September 2024 17 REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED) Financial Review (continued) Resident numbers averaged 205 for2023124 compared to 195 in 2022123. This resulted in an increase in both fee income and operational expenditure. A deficit before investment and pension asset gains of £1,5m was generated, compared to a deficit of £2.Om in 2023. Fundraising income, including legacies increased by £0,5m. The performance of the investment portfolios improved resulting in an unrealised gain of £2.3m compared to £0.8m in 2022123. Where our income come from 2023124 2022/23 3%1%1% Income from care servlces 24% Income from care services Fundr3i5ing incorne Fundraising income w Restrirted donations Investment incolne 4 Aestricted donations Investment income Other SOUTce5 Other sour¢es Where the money was spent 2023124 2022123 Direct 5tsff costs 2%1% Direct staff costs Caterin& Medical & Welfare Catering, Medical & Welfa Administrative & Support 11% Administrative & Support Depreciation Depreciation 11% 53 Accornrnodation cost5 Accommodation cost5 Fundraising wsts Investment fee5 Fundraising costs 2% Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 18 REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE ICONTINVED) Investment Pollcy and Performance As at the end of September 2024, the charity's listed investments totalled £26.20m12023: £23.32ml, of which £1.02m relates to cash instalment5 (2023,, £0.65m), £4.68m isfixed interest and other bonds {2023: £4.30ml, £18.39m is equities (2023: £15.72ml and £2.Ilm is alternative investments {2023.' £2.28ml. the asset allocation is i Ilustrated below: Asset Allocation lJjj-% i7-.* rixed liltereai 118;. Alterrari'iknu i S%1 IvliJlD.-ai: A5 part of maintaining good financial stewardship of the charity's resources, the directors appoint two fund managers to manage the investment portfolio. The Board sets the investment mandate which is targeted at achieving total or real returns on a rolling 5 year period with an emphasis on capital growth. The Board's risk appetite is set as medium risk. in line with the Asset Risk Consultant5 {ARCI Group indices. The fund managers havefull discretion to inve5tthe charity'5funds accordingto the investment mandate and the set target of attaining (or outperforming} UK CPI +3%, net of all fees. The Investment Committee receives periodic updatesfrom both fund managers and provides an update on performance at every Trustee Board meeting. The two fund managers are Meridiem (formally known as Veritasl and Cazenove. Unrealised gains for 2023124 totalled £2.36m12023: £0.89m) of which 60¥0 {2023: 990/0) was generated by the Meridiem portfolio. The total return for Meridiem overthe last 12 months was 12.IOh, forcazenove this was 12.7 % and estimated annual income yield l.l% for Meridiem and 1.85¥0 for Cazenove. The continued rally in global equity markets which was noted in the first quarter of 2024 has persisted, after a brief pause in April. Since then, the further rise in stock markets has been concentrated very heavily in the leading US technology stocks (particularly those associated with the Al theme}, at least until towards the end of 2023124 when the market gains began to broaden, following a short-lived shake out in the prices of the leading stocks in late July and earlyAugust. Overthe course of 2023124, returns from bonds have now entered positive territory and interest rate cuts have begun or are anticipated in Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Account5 for Year Ended 30 Septernber 2024 19 REPORT OFTHE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED) Investment Policy and Performance (continued) many of the major economies. Againstthis backdrop, it is also worth noting that Sterling strengthened, which has reduced the returns from global equities for Sterling dominated investor5. Both managers have generated sound returns this year, in line with expectations given the market environment and their respective styles and approaches, and also broadly in line with the peer group average. Free Reserves An important role for our Board of Trustees is to manage the long-term sustainability of the charity. We have therefore Set our reserve5 policy to: l. Partly fund the funding gap between fee income and cost of care 2. Ensure we are resilient and have the financial capability to momentarily respond to unforeseen financial difficulties 3. Allow investment in the refurbishment of Nightingale House, technological advancement, energy efficiency schemes and estates and facilities management 4. Enable future expansion of our Services to the elderly members of the community. We have calculated ourfree reserves as that part of the charity's unrestricted income funds that is freely available after taking account of the tangible fixed assets, restricted, endowment and designated funds earmarked for specific projects. We have considered that given the nature of the charity's work, political uncertainty around Social care funding, economic uncertaintie5, impact on disposable income, stock market volatilitie5 and the growing demand for elderly care, the level of free reserves should be equivalentto at least 6 to 12 months, expenditure. We are also of the opinion that the free reserves should afford the charity the flexibility to cover temporary shortfalls in incoming resources either due to the timing difference in cash flow or funding shortfall. As at 30 September 2024 the charity held free reserves of £22.8m. Based on the 2023124 results, the free reserves cover 9.8 months of operational expenditure. Free reserve5 are therefore in line with requirements. Going Concern The charity continues to benefit from support from the community, high performing investment portfolios and currently has a waiting list of potential residents for Hammerson House. The 3 and 10- year financial forecasts shows the charity's ability to meet its financial commitment for the foreseeable future. As such, the Board of Trustee5 is comfortable that the accounts have been prepared on a going concern basis. NightinEale Hammerson Charty Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 20 REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED) Fundraising for our Charitable Objectives Fundraising continues to be one of the most important activities we undertaken to ensurethe longevity of ourcharity and the delivery of exceptional care. Care needs have become increasingly more complex and the impact of government initiatives such as the increases to the National Living Wage, pension reform and with future plans for an increase in employer National Insurance costs, the need to fundraise to support core funding has never been greater. There was hope within the sertor that a change of government would bring Social Care funding reform to tackle the on-going fundi ng crisis. However, it is clear that this will not be forthcoming u ntil at least 2028. Without significant additional funding for Local Authorities and Integrated Care Boards, so they can coverthe real costof high quality care, we will continue to relyon fundrai5ingto fillthe gap between the cost of care and the funds received to deliver it. We are a voice in the social care sectorthrough our membership of the policy Board of Care England and through the Jewish Leadership Council and will continue to raise these serious concerns at a higher level until ourvoice is heard. In order to provide the same level of care to all residents, we have to raise in the region of £4.Om per annum through fundraising activities and legacies. This amount will only increase as the differential grows between costs of care on the one hand and government funding on the other. Ourdonors and benefactors have continued to give generously, forwhich we arevery grateful. We raised £1.42m (net fundraising income) in the year to support day to day operations with an additional £2.32m received from legacies. The publicity within the community surrounding the Hammerson House, Wohl Campus, development created a natural opportunity for us to raise awareness of what makes Nightingale Hammerson special. Building development does not stop and our upcoming planned renovation and capital programme for Nightingale House is our new fundraising challenge for 2024 onward. Nightingale House is huge and costly to manage and our plans to 'right size, the home is vital so that we can ensure the home 15 5UStainable forthe future community that we serve. Our heartfeltthanks go to all ourdonors. Our Commitmentto the Fundraising Code of Prartice Nightingale Hammerson is registered with the Fundraising Regulator and adheres to the Code of Fundraising Practice. We aim to achieve best practice in the way we communicate with our donors and other supporters. Our supporters are at the heart of our abilityto fulfil our mission. Following continued scrutiny of fundraising practices across the sector, we have reviewed our systems to ensure that formal consent is gained from all those whom we wish to contact for fundraising purposes. By reviewing our processes, we aim to achieve the standards set out in the Fundraising Code of Practice and ensure compliance with the General Data Protection Regulation. We do not employ third party professional fundraisers or commercial organisations to fundraise on our behalf. We recently undertook a crowd funding fundraising event where the service of a third party charity was employed to provide the technology and campaign expertise needed to make the event a success. We remained the Data Controller and ensured appropriate due diligence were undertaken priorto engagingthat firm. Also in compliance with the Fundraising Code of Practice, we do not take part in any intrusive or high- pressure fundraising activities such as street fundraisin& door-to-door or cold-calling. We listen to Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 21 REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED) feedback and investigate any complaints regarding our fundraising activities. During the year, we received no complaints about ourfundraising activities. Principal Risks and Uncertainty OurApproach to Risk Management Risk is inherent in our operations and the decisions made in pursultof ourcharitable goals. The Board of Trustees is responsible for the nature and extent of the principal risks that we are willing to take. It reviews the principal risks to the organisation and ensures that risks are effectively managed through our governance structure. The Board delegates the detailed review of operational risks to the Audit and Risk Committee who review both financial and non-financial risk registers. Our principal risk portfolio will continue to be reviewed by the Board as relating to our strategic priorities. The sub-committees of the Board, namely the Care, Finance and Investrnent Committees, have continued to focus on more in- depth management of our day-to-day responses to risks. Our principal risks with mitigating actions are: Risk of harmlinjury to Residents The very nature ofthe Residents living in the homes means they are at risk of injury. Each resident has a suite of risk assessments relating to their mobility and all care related risks. Those assessed at high risk of falls have mitigating actions in place, such as one to one care, mobility equipment, movement alarm5 and impactful physiotherapy. We have a number of policies, procedure5 and guidance forstaff as well as access to expert clinicians on-site. Adequate Buildings Failure to rnaintain the buildings to a safe/fit for purpose or compliant states represents a risk to both Residents and Team Members. This risk is higher at Nightingale House given the age and condition ofthe building. The Nightingale 2.0 Steering Committee has agreed a strategy to uplift 311 residential areas of the home including updated equipment and furniture as well as décor. A building conditions survey for Nightingale House has been undertaken and outcomes aligned with planned maintenance schedules. Business Continuity Plans are in place to cover any likely incidents and there are agreements in place with specialised contractors. Cyber Security The failureto develop and maintain adequateor effective cybersecurity and controls would increasethe risk of potential exposure or loss resultingfrom a cyberattack ordata breach. The Charitywas subjectto a cyber attack in December 2024. Since this incident third party audits have taken place and all recommendations have been implemented. Staff have been trained on cybersecuritythreats and regular tests are carried out. Occupancy Levels Occupancy levels at Nightingale House have been steadily fallingovera numberofyears. The inabilityto Stabilise occupancy levels and maintain high levels at Hammerson House would have a Significant financial impact for the charity. The previously mentioned refurbishment programme at Nightingale House will bring the accommodation standards in line with those at Hammerson House, A sales and marketing initiative has been implemented with additional staff resource brough in to respond to this Nightingale Hammerson Charity Reg. ND. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 22 REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED) Principal Risks and Uncertainty (continued risk. Nightingale House is a large building, management continue to explore opportunities to generate income from currently empty space. Recruitment and Retention The failure to recruit and retain the right peoplewith relevant skills, values and behaviour5 would create a number of challenges to the charity, including reputational damage. In April 2024 Nightingale Hamrnerson made the decision to pay staff the London Living Wage. Employee benefits are a150 being looked at with a number of improvements planned for 2025. An Investors in People (IIP) Survey took place during 2023124 with an action plan in place to drive employee satisfaction. The charitie5 values are at the heart of recruitment and supervision processes. Management lead byexample and staff are cared for well. Security Incidents, including Terrorism The crisis in Israel ha5 increased the risk of anti semitic incidents and possible terror threat in both homes. Senior management are in regular contact with Community Security Trust (CST) and the Metropolitan Police and are constantly monitoringthe situation internally and externally. Staff have had ProjectGriffintrainingand, CrimeAwareness&CounterTerrorismtraining,delivered bythe Metropolitan police. Access control is in place across both sites and the buildings have the necessary alarms and CCTV in communal and outside areas. Financial The cost of providing outstanding care continues to grow and exceeds the level of income generated by care fees. In particularthe recent change5 to employers national insurance has resulted in an additional £0.5m of cost peryear. The number of residents that require funding and therefore a charitable subsidy continues to grow. Commissioners, uplifts do not come closeto meetingthe cost of care. The charity has good financial stewardship and regularly monitors performance through monthly management accounts and other reporting. Quarterly reforecasts are carried out in addition to the annual budget process and any risks or potential challenges are reported to Trustees. There are a number of strategic projects underwayto support efficiencies and reduce expenditure and/or increase income. Thecharities investments are monitored by a highly skilled investment committee. Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 23 REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED} Energy and Greenhouse Gas Report We remain committed to measuring and reducing our energy consumption and the carbon impact of ouroperations on the physical environment. Nightingale Hammerson has appointed Carbon Footprint Ltd, a leading carbon and energy management company, to independently assess its Greenhouse Gas {GHG) emissions in accordance with the UK Government's 'Environmental Reporting Guidelines- Including Streamlined Energy and Carbon Reporting Guidance,. darty C02e Assessed Organisation OqJ¢O The GHG emissions have been assessed following the GHG Protocol Corporate Standard and has used the 2023 emission conversion factors published by Department for Environment, Food and Rural Affairs {Defral and the Departmentfor Business, Energy& Industrial Strategy (BEIS}. The assessmentfollowsthe dual reporting approach for assessing Scope 2 emissions from electricity usage. The operational control approach has been used. There has been a changeto the baseline year emission5 to include emissions from Well-to-Tank as these were not previously calculated. The new baseline year total GHG emissions can be found in the 2022123 Carbon Footprint report. Thetable below summarises the GHG emissions for reportingyear: l October2022to 30 September 2023. Location-Ba5ed {tCO2e) 370.42 9.77 380.19 Market-Based (tCO2el 370.42 9.77 Scope Emission Source Natural Gas Owned Vans Scope I Subtotal Electricity Scope 2 Subtotal Scopes l arid 2 WTT Transmission and Distribution Scope 3 Subtotal Total tcoie Total tcoie per employee {FfE) Total tcoie per EM Turnover SECR Total energy consumptlon (kwh) 4,718,347 We are delighted to be ableto show we have reduced ourtotal greenhouse g35 emissions by 19.90h since last year. 380.19 549.71 976.18 549.71 976.18 185.42 58.11 185.42 58.11 243.53 243.53 1,173.43 2.35 49.23 1,599.89 3.21 67.13 Duringthe year, working areas were moved around and condensed at Nightingale House to allow a floor of the building to be 'switched off and save of energy emissions. This is still underway with the final moves expected in February 2025. The SLT also made a decision to remove all disposable5 Used by the outsourced catering providers. These were re-introduced during the covid pandemic for infection control. Nightingale Harnmerson Charty Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 24 REPORT OFTHE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED) streamlined Energy and Carbon Reporting (continued) During the last year we also completed a detailed Energy Savings Opportunity Scheme IESOS} energy audit of our energy use and have a number of recommendations we are now in the process of implementing. Activity Baseline Year 2019120 4,882,296 999.95 Previous Year 2021122 2,469,442 1,178.21 Current Year 2022123 4,718,347 929.90 1,356.37 TBC Total energy consumed Ikwhl Total Gross Location-Based Emissions ItCO2el Total Gross Market-Based Emissions (tcoie) Totsl Net Market-Based Ern15$1on5 (tC02e) Intensity ratio: tCO2e (gross Scope l & 2, market-based) per £M revenue 82.56 60.40 39.02 Our energy efficiency and sustainability policy is still focussed on: Measuring our carbon footprintr We will continue to measure our carbon footprint and report this as part of the charity's annual reports, annual review and on our website. Measuring our emissions will enable us to analyse our consumption levels and set SMART targets to reduce levels year on year. Going green.. We will seek ways of making our homes and offices more environmentally friendly such as choosing an energy provider that uses renewable energy or use low carbon alternatives where safe. As part of our property refurbishment programme, we will replace our fluorescents with LED lighting, instsll lighting controls and sensors and promote switching off lights when not needed. We will also encourage staff to switch off computers and any otherappliances, improve our Heating, Ventilation and Air-conditioning IHVAC} systems and look to re-schedule timing of some activities, where practicable, to conserve energy. Reduce, reuse, recycle.. We will recycle what we can, reduce what we use and reuse or upcycle items. We promote recycling by ensuringthere are recycling bins around the homes and offices. We will also seek to move away from single use plastics as best as possible. Ourstakeholders.. We will maximise our residents, access to the natural environment forthe benefit of health and wellbeing. We will seek donors and partners with energy efficiency focus to 5UPPOrt U5 on our journeyto net zero carbon. Where net zero carbon emi55ion cannot be achieved, we will invest in projects that allow the charity to offset its net emissions. We will ask our suppliers and contractors about how they are demonstrating their commitment to energy efficiency and sustainability as part of our procurement processes. Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 25 REPORT OFTHE DIRECTORS OF THE CORPORATE TRUSTEE {CONTINUED) Reduce yourdigital footprint.. We will endeavour to reduce our digital footprinttoo by assessing how environmentally friendly our website and digital products are, promoting a digital culture above print, using recycled papersfor our printingand embracingotherdigital energy efficiency initiatives. Wewill embrace new technologies and enhance existingtechnologies wherever possible. Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 26 REPORT OF THE DIRECTORS OF THE CORPORATE TRUSTEE (CONTINUED) STATEMENT OF DIRECTORS, RESPONSIBILITIES The directors are responsible for preparing the report of the directors of the corporate trustee and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom GenerallyAccepted Accounting Practice). The law applicable to charities in England and Wales requires the directors to prepare accounts foreach financial year which give a true and fair view of the state of affairs of the charity, of the income and expenditure ofthe charity forthat period. In preparing these accounts, the directors are required to: select suitable accounting policies and then apply them consi5tently' observe the methods and principles in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 1021; makejudgements and estimates that are reasonable and prudent. state whether applicable United Kingdom Accounting Standards have been followed. subject to any material departures disclosed and explained in the accounts. and prepare the accounts on the going concern basis unless It is inappropriate to presume that the charity will continue i n operation. The directors are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transaction5 and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the charity's governing document. Theyare also respon5ibleforsafeguardingthe assetsof the charityand hencefortakingreasonablesteps forthe prevention and detection of fraud and other irregularities. Director Date of approval.. 25th April 2025 Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 27 INDEPENDENT AUDITOR'S REPORT Independent auditor's reportto the corporate trustee of Nightingale Hammerson Opinion We have audited the financial statements of Nightingale Hammerson for the year ended 30 September 2024 which comprise the consolidated and parent charity statement of financial activities, group and parent charity balance sheets, the consolidated sLitement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom GenerallyAccepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the group's and of the parent charity's affairs as at 30 September 2024 and ofthe group's net movement in funds for the yearthen ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements ofthe Charities Act 2011. Basis for opinion We have been appointed as auditor under5ection 144 of the Charities Act2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UKII and applicable law. Our responsibilities underthose standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis forouropinion. Conclusions relatingto goingconcern In auditingthefinancial statement5, we have concluded thatthetrustees, use of the going concern ba51S of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events orconditionsthat, individuallyorcollectively, may cast significant doubt on the group's abilityto continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 28 INDEPENDENT AUDITOR'S REPORT (CONTINUED) other information Thetrustees are responsiblefortheother information. The other information comprises the information included in the Chairman's Report and the Trustees, Annual Report. Our opinion on the financial statements doe5 not coverthe other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whetherthe other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otheNise appears to be materially misstated. If we identify such material inconsistencies or apparent material mi55tatements, we are required to determine whetherthere is a material misstatement in the financial statements or a material misstatement ofthe otherinformation. If, based on thework we have performed,we concludethatthere Is a material misstatementof thi5 Other information,we are required to reportthatfact. We have nothing to report in thi5 regard. Matters on which we are required to report by exception We have nothingto report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: adequate accounting records have not been kept bythe parent charity; or sufficient accounting records have not been kept. or the parent charity financial statements are not in agreement with the accounting records and returns; or we have not received all the information and explanations we require forour audit. Re5ponsibilitie5 of trustees for the financial statements As explained more fully in the trustee5' responsibilities statement set out on page 26, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group's and the parentcharity's abilityto continue as a goingconcern, disclosing, as applicable, matter5 related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group orthe parent charity or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities forthe audit of the financial statement5 Our objectives are to obtain reasonable assurance about whether the financial statements 35 a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's reportthat includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when itexists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basi5 of these financial statements. Nightingale Hammerson Charity Reg. No. 207316 TrLlStees Report and Annual Accounts for Year Ended 30 Septernber 2024 29 INDEPENDENT AUDITOR'S REPORT {CONTINUED) Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, i ncluding fraud is detailed below: Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the Care Standards Act 2000 and the Care Quality Commission (CQC) IRegistrationl Regulations 2009, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulationsthat have a direct impacton the preparation of the financial statements such as the Charities Act 2011. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls). Audit procedures performed by the engagement team included.. Inspecting correspondence with regulators and tax authorities; Discussions with management including consideration of known or suspected instances of non- compliance with laws and regulation and fraud. Evaluating management's contro15 designed to prevent and detect irregularities; Identifying and testingjournals. and Challenging assumptions and judgements made by management in their critical accounting estimates. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omi55ion or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor'5 report. Nightingale Hanimerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 30 INDEPENDENT AUDITOR'S REPORT (CONTINUED) Use of our report This report is made solely to the charity's trustee5, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept orassurne responsibility to anyone other than the charity'strustees as a body forour audit work, forthis report, orforthe opinion5 we have formed. Plo* LLF Haysmac LLP 10 Queen Street Place StatutoryAuditors London Date". 16/05/2025 EC4R IAG Haysmac LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act2006 Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 31 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES Forthe year ended 30 September 2024 Unrestrirted Fund$ 2024 General Designated Restricted Total Fund Fund Fund Funds £'ooo £'ooo £'ooo £'ooo 2023 Total Funds £'ooo Note Incomefrom: Donations and legacies Revenue purposes Capital purposes Investments and short term deposits Charitable activities Provision of residential and nursing care Government's infection control grant Other sources Total Income 4,198 222 1351 65 4,420 135) 1,017 3,832 21 793 952 21,632 21,632 19,055 20 99 217 113 351 27,251 23,834 118 26,900 Expendbture on: Raising funds Generating donations and legacie5 Investment managementcosts Charitable activities Provision of residential and nursing care Total expendlture 624 149 51 675 149 606 147 25,084 25,857 2,043 2,043 861 27,988 24,977 912 28,812 25,730 Net incomel{expenditure) forthe year before tran5fer5 and gainslll055esl on investments Transfers between fund5 Gainslllossesl on investments Realised gains on disposal of investments Unrealised gain51 (losses) on investments Net incomel(expenditure) for the year 1,043 (2,0431 (5611 (1,561) {1,8961 19 12,6061 2,643 1371 16 274 274 196 16 2,364 1,075 2,364 1,077 600 (598) 1852) Other recognised gains and losses Actuarial gains on pension scheme Net movement in funds 555 1,630 555 600 (5981 1.632 1564) Funds brought forward at l October 2023 24,474 52,712 12,415 89.601 90,165 Funds carried lo￿ard 30 September 2024 21 26,104 53,312 11,817 91.233 89,601 The consolidated statement of financial activities includes the results of Nightingale Hammerson and Chalkford Limited. All of the figures included in the above consolidated statement of financial activities derive from continuing activities of the charity and its subsidiaries. Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 32 BALANCE SHEET As at30 September 2024 2024 2023 Group £'ooo Group £'ooo Charity £'ooo Charity £'ooo Note Fixed assets Tangible assets Investments 14 16 48,206 26,449 74,655 50,498 26,450 76,948 48,222 23,573 71.795 50,517 23,574 74,091 Current assets Debtors Shortterm deposits Cash at bank and in hand 17 7,467 8,121 1,915 17,503 7,466 8,121 1,855 17,442 5,457 10,151 3,309 18,917 5.842 10,151 3,117 19,IID Creditors: amount falling due within one year 18 (4,186) (4,134) 13,817) 14,0501 Net current assets 13,317 13,308 15,100 15,060 Total assets less current liabilities 87,972 90,256 86,895 89,151 Pension scheme asset Total net assets 23 3,261 91,233 3,261 93,517 2,706 89,601 2,706 91,857 Funds and reserves Charitable funds Restricted funds Unrestricted funds Designated funds Hammerson House buildingfund Nightingale House building fund Maintenance fund Tangible fixed assets fund 19 11,817 11.828 12,415 12,426 20 20 20 20 8,500 3,500 41,312 53,312 8,500 3,500 43,594 5S,594 8,500 3,500 40,712 52,712 8,500 3,500 42,994 54,994 General fund Pension reserve 22,843 3,261 91,233 22,834 3,261 93,517 21,768 2,706 89,601 21,731 2,706 91,857 23 21 Approved bythe directors of the corporate trustee And signed o heir behalf by: Director of corporate trustee Approved on: 25th April 2025 Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 33 CONSOLIDATED STATEMENTS OF CASH FLOW For the yearended 30 September2024 2024 2023 £'ooo £'ooo Cash flows from operating actlvltles Net Cash (used inl operating activities (1,285) 11,9571 Cash flows from investing activities Investment income Purchase of tangible fixed assets Investment additions Investment disposals Movement in investment cash Cash matured fromllplaced onl deposit Net cash provided by (used in) Investlng activities 1,017 (2,644) (6,673) 6,398 1237) 2,030 1109} 793 11,1381 15,0081 9,288 266 12,1371 2,064 Change in cash and cash equivalents in the year Cash and cash equivalents at l October 2022 Cash and cash equivalents at 30 September 2023 (1,394} 3,309 1,915 107 3,202 3,309 Notes to the consolidated statement of cash flows for the year to 30 Sept 2023 A Reconciliation of net movement in funds to net cash (used inl operating activities 2024 2023 £'ooo 1,632 £'ooo 15641 Net movements in funds (as per the statement of financial activities) Adjustments for. Depreciation charge Gains on investments Investment income Increase in value of pension asset Increase in debtors Increase in creditor5 2,660 (2,364) (1,017) 1555} (2,010> 369 2,342 18481 17931 12881 12,1431 337 Net cash used In operatlng activitles B Analysis of cash and cash equivalents (1,285} 11,9571 2024 2023 £'ooo £'ooo Cash at bank and in hand 1.915 1,915 ,121 882 3,309 3,309 Total cash and cash equivalents Shortterm deposit5 Cash held with investment managers Total 10,198 14,105 No separate reconciliation of net debt has been prepared as there is no difference between the net cash (debt) of the group and the above cash and cash equivalents. 10,151 Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 NOTES TO THE FINANCIAL STATEMENTS I. PRINCIPAL ACCOUNTING POLICIES The principal accounting policies adopted,judgements and key sources ofestimation uncertainty in the preparation ofthe accounts are laid out below. Basis of preparation These accounts have been prepared for the year to 30 September 2024 with comparative information given in respect to the year to 30 September2023. The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless Otherwise stated in the relevant accounting policies below orthe notes to these accounts. The accounts have been prepared in accordance withAccounting and Reporting by Charities: Statement of Recommended Practice applicable to charitie5 preparing their account5 in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 1021, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102. The accounts are presented in sterling and rounded to the nearest thousand pounds. Goingconcern The directors, after reviewing the charity's financial performance, operating budget, investment plans, fundraisingstrategy and financial forecasts, considerthatthe charity have sufficient fundingto continue to provide residential, nursing, dementia and palliative care for the foreseeable future. The directors have assessed the prospects of the charity over a three-year period to September 2025. This has taken into accountthe business models, strategic aims, risks and mitigations of the micro and macro-economic factors as affecting the charity. Based on this assessment, the directors continue to adopt the going concern basis in preparing the accounts. In determiningthe goingconcern basis of preparingthe accounts forthe yearended 30 September 2024, the directors are required to consider whether the charity can continue in operational existence for a period of at least 12 monthsfrom the approval ofthe accounts. As at30 September2024, the total assets less current liabilities of the group were £88m while the total net assets were £91m. Liquidity as at that date was £10.9m made up of £1.9m cash and cash equivalents, £8.Im of Short term deposits and £0.9m cash held with investment managers. In addition to the increased operational growth capacity, the charity: Does not have or intend to have long term borrowing5 over the assessed period. Gearing ratio and interest cover is nil. Reviewed the true cost ofcare and plan to increase fees accordingly. Plans to invest in Nightingale House to improve resident numbers and grow the charitable activities Ha5 an investment portfolio, including investment property, of £26.4m as at 30 September 2024. Nightingale Harrsmerson Ch8rity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 35 NOTES TO THE FINANCIAL STATEMENTS I. PRINCIPALACCOUIITING POLICIES (continued) The operating model included some downside scenarios such as occupancy numbers falling below budget, higher pay rates, higher costs or lower fundraising income than projected. The impact of the downside scenarios were reviewed against the charity's projected cash position and investments. Should the worst case scenario occur, mitigating actions will include divesting part of the charity's investments to maintain the ideal liquidity level and financially viable in the going concern assessment period. Basis of consolidation The statement of financial activities and balance Sheet consolidate the account5 of the charity and its group undertakings Ilisted below) made up to the balance sheet date. Chalkford Limited, a UK trading subsidiarywhich is a property construction company. Friends of Nightingale House, a charitable trust no longer operational but having had the purpose of raising funds on behalf of Nightingale Hammerson. Intra-group transactions are eliminated in full. Critical accounting estimate5 and areas of judgement Preparation of the accounts requires the directors of the corporate trustee and management to make significantjudgements and estimates. The items in the accounts where thesejudgements and estimates have been made include: assessing the probability of the receipt of legacy income estimating accrued expenditure determining the apportionment of expenditure between governance and support costs and between support costs and the various categories of expenditure estimating the useful economic life of tangible fixed assets for the purposes of determining a depreciation charge estimatingthe market value of investment property assessingthe recoverability of outstanding debtors for residential and care home fees assessingthe appropriatenessof the assumptions made bythe actuaryin arrivingatthe actuarial valuation of the charity's defined benefit pension scheme determiningthe value of designated funds set aside at the year end. Income recognition Income is recognised in the period in which the group andlorcharity has entitlement to the income, the amount of income can be measured reliably and it 15 probable that the income will be received. Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) l. PrincipalAccounting Policy (continued} The group's main income source of income is from its charitable activities including care home residential, dementia and nursing fee income. Other income source5 include donations, legacies, income from fundraising events, income from investments and interests from short term bank deposits and other sources. Donations are recognised when the charity andlor group ha5 confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amounts are only accrued once formal pledge agreements are in place. if no such agreement5 exist the donation5 are recognised on receipt. In the event that a donation is subject to conditions that require a level of performance before the Charity is entitled to the funds, the incorne is deferred and not recogni5ed until either those conditions are fully met, or the fulfilment of those conditions 15 wholly within the control of the Charity and it is probable that those conditions will be fulfilled in the reporting period. Legacies are included in the statement of financial activities when the Charity is entitled to the legacy, the amountcan be reasonablyestimated, theexecutors haveestablished thatthere are sufficientsurplus assets in the estate to paythe legacy, and any conditions attached to the legacy are within the control of the Charity. Entitlement is taken as the earlier of the date on which the Charity is aware that probate has been granted,the estate has been finalised and notification has been made by the executortothe Charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured, or estimated, reliably and the Charity ha5 been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity andlor group, or the charity is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. In the eventthatthe gift is inthe form of an assetotherthan cash ora financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title of the asset having being transferred to the Charity. Investment income is recognised once the dividend orsimilar income has been declared and notification has been received of the amount due. Interest on funds held on short term deposit is included when receivable and the amount can be measured reliably bythe charity. thi5 is normally upon notification of the interest paid or payable by the bank. Interest on fixed interest, fixed term deposits is recognised evenly across the depositterm. Fees for residential and nursing care are recognised to the extent that it is probable that the economic benefits will flow to the charity and the revenue can be reliably measured. They are measured at the fair value of the consideration received or receivable based on agreements with residents and funding agencies, excluding any relevant value added tax. Income from othersources is measured at fairvalue and on an accruals basis. Nightingale Hammerson Charity Reg. No. 207316 Trustee5 Report and Annual Accounts for Year Ended 30 September 2024 37 NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) l. Principal Accounting Policy {continued) Expenditure recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probablethat a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings as described in Note 7, The classification between activities is as follows: Expenditure on raising funds includes: the salaries, direct costs and overheads associated with generating donated income and legacies- the fees paid to investment managers in connection with maintaining the portfolio of listed investments- and the expenditure of the Charity's trading subsidiary in the UK. Expenditure on charitable activities includes all costs associated with furthering the charitable pu rposes of the charity through the provision of charitable activities i.e. the provision of holistic quality care to older Jewish people. This includes expenditure on residential and nursing Ca￿ and the depreciation of those assets used for care purposes. All expenditure 15 Stated inclusive of irrecoverable VAT. Allocation of support and governance costs Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the Charity, it is necessary to provide support in the form of personnel development, financial procedures, provision of office services and equipment and a suitable working environment. Governance costs comprise the costs involving the public accountability of the Charity (including audit costs} and costs in respect to its compliance with regulation and good practice. Support costs and governance costs are apportioned based onthe allocation basis as described in Note 7 to these account5. Tangible fixed assets All items offurniture, fittings and equipmentwith a value in excess of £1,000 and which have an expected useful life exceeding oneyearare capitalised and depreciated. Depreciation is not charged on buildings under construction or on freehold land. The depreciation charges applied to assets on a straight line basi5 over their estimated useful life are as below: Propety (Freehold and Leasehold): Development substructure Development superstructure Freehold property Development external works Development Mechanical and Engineering Development finishes, fittings (not loose) Café and kitchen Plant Loose fixtures and fittings Motorvehicles 100 years 65 year5 25 to 50 years 30 years 25 years 20 years 15 years 10 years Syears 4years Plant: Furniture, Equipment &Vehicles: Nightingale Hammetson Charity Reg. No. 207316 Trustees Report and Annual Accounts fof Year Ended 30 September 2024 38 NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) l. PrincipalAccounting Policy (continued) Investments Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price, The charity does not acquire put options, derivatives or other complex financial instruments. The main fomi of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particularsectors or sub sectors. Properties held for investment are included in the accounts at their estimated current market value a5 determined by the directors of the corporate trustee after consultation with their professional propety advisers. Investments in UK trading subsidiaries are included in the accounts at cost with provision being made forany permanent diminution in value. Realised gains lor losses) on investment assets are calculated as the difference between disposal proceeds and their openingcarryingvalue ortheir purchasevalue if acquired 5ubsequentto the first day ofthe financial year. Unrealised gains and losses are calculated as the difference between the fairvalue at the yearend and theircarryingvalue at thatdate. Realised and unrealised investment gains (or1055es) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise. Debtors Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value ofthe future cash receipt where such discounting 15 material. Cash at bank and in hand Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment. Cash held by investment managers as part of their management strategy is included in fixed asset investments. Creditors and provisions Creditors and provisions are recognised when there is an obligation atthe balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material. Nightingale Hammerson Charrty Reg. No. 207316 Trustees Report and Annual Accounts foi Year Ended 30 September 2024 39 ## TV **NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)** TALE es a ## **1. Principal Accounting Policy (continued}** ## **Fund structure** MHRA The general fund comprises those monies which may be used towards meeting the charitable objectives hu tak aesSPeeSR AG 0 ale ce Reine ATecg tla pe eS ke Ave of the charity and which may be applied at the discretion of the directors. Salt’ pres.= ORESheet See Sa Mew) Hed ties Oe Mart ee. The designated funds are monies or assets set aside out of general funds and designated for specific ora Cater oat Cee eat PS! eS al. Sake Treeer rears purposes by the directors. The tangible fixed assets fund represents the net book value of the tangible fixed assets used for the "Es serch sas witeinscoon rete onto 3s Pa Eee ie wats wets wre support of the work of the charity and/or group. arg F erarag wea sou oo > art!by > The restricted funds are monies raised for, and their use restricted to, a specific purpose, or donations SSS Oe SY RA CSP ASoe EES ee rei oe subject to donor imposed conditions. Non-charitable trading funds consist of the retained assets of activities conducted through non­ charitable trading subsidiary. ## fener **Pension contributions** e ere The charity has a defined benefits pension scheme which is closed to new members. The assets of the scheme are held and managed separately from those of the charity. Pension scheme assets are ESE AE Ee! TE NSO PT A AS Si SEES RN EST Nee measured at fair value at each balance sheet date. Liabilities are measured on an actuarial basis using ERE Sine the projected unit method. The net of these two figures is recognised as an asset to the extent that the So ATSC cI ae, NS SRE See A NII charity is able to recover the surplus either through reduced contributions in the future or through EES as, SRDeS DEIN Saar ee CT ee see refunds from the scheme. Any change in the asset or liability between balance sheet dates is reflected in aewsnei hen!csaan ipDorLaaageWatShan SRN We Se otPeerie SR the statement of financial activities in recognised gains and losses for the period. eera eerdsig we pOSoaredtertCobo ei ook The charity also contributes to the defined contributions scheme and contributions to the scheme are her charged to the statement of financial activities in the year in which they are payable to the scheme. a ee ttt ida ee ER neta Bell ait shi ote > Nightingale Hammerson Charity Reg. No. 207316 (ae an eek ete FO PRS Trustees Report and Annual Accounts for Year Ended 30 September 2024 STIG ST OM TS ‘a 40 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 2. INCOME FROM DONATIONS AND LEGACIES General Fund £'ooo Restricted Fund £'ooo 2024 Total Funds £'ooo 2023 Total Funds £'ooo Group Donations.. Revenue donations Hammerson House capital fund Legacies Revenue donations Capital fund 2024Total Funds 2023 Total Fund 1,878 222 1351 2,100 {35) 1,589 16 2.320 2,320 2,243 4,198 3,643 187 4,385 3,853 3,853 210 3. INCOME FROM INVESTMENTS General Fund £'ooo Restrlcted Fund £'ooo 2024 Total Funds £'ooo 2023 Total Funds £'ooo Group Income from listed investments by fund manager Investment Income Meridiem Investment Income Cazenove 138 170 308 138 235 373 87 213 300 65 Rental income Interest receivable 2024Total Funds 2023 Total Funds 636 636 485 952 728 65 1,017 793 793 4. INCOME FROM PROVISION OF RESIDENTIAL CARE AND NURSING General Fund £'ooo Restricted Fund £'ooo 2024 Total Funds £'ooo 2023 Total Fund5 £'ooo Group Maintenance contributions receivable 21,632 21,632 19,055 Total maintenance contributions receivable 21,632 21,632 19,055 Nightingale Hamrnerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Endeij 30 September 2024 41 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 5. EXPENDITURE ON GENERATING DONATIONS AND LEGACIES General Designated Restricted 2024 Total Fund Fund Fund Funds £'ooo £'ooo £'ooo £'ooo 204 204 395 446 25 25 624 675 606 606 2023 Total Funds £'ooo 270 302 34 606 Group Staff costs Fundraising, legacy and appeal expenses Support Costs INote 71 2024 Total Funds 2023 Total Fund 51 51 6. EXPENDITURE ON PROVISION OF RESIDENTIAL CARE AND NURSING General Fund £'ooo 15,281 3.034 2.606 1,051 3,112 Deslgnated Restricted 2024 Total Fund Fund Funds £'ooG £'ooo £'ooo 15,465 3,035 2,621 1.094 3,112 2.661 27,988 24,977 2023 Total Fund$ £'ooo 13,629 2.766 2.249 1,088 2,903 2,342 24.977 Group Staff costs Catering and food Premises dayto daycosts Medical, care and welfare costs Support costs (Note 7) Depreciation (Note 141 2024 Total Funds 2023 Total Fund 15 43 2,043 618 861 25,084 22.605 1.802 570 7. SUPPORT COSTS The support costs and the basis oftheir allocation were.. Provisions Generating donatlons and acies £'ooo li resldential and nursing care Total Basi5 of apportionment £'ooo 1.351 Head count 473 Head count fjroup Support staff Cost Administrative and Governance costs Information and Communication Technology Insurance Human Resources and Volunteering 2024 Total- Group and Charity £'ooo 1,340 469 409 351 543 412 Head count 354 Head count 547 Head count 3.137 25 3,112 Nightingale Hammerson Charity Reg. No. 207316 Tiustees Report and Annual Accounts for Year Ended 30 September 2024 42 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 8. UK TRADING SUBSIDIARY Nightingale Hammerson ownsthe entirecalled upordinarysharecapitalofchalkford Limited, a property construction company (company registration number010013961. 2024 2023 £'ooo £'ooo Chalkford Limlted Turnover 68 161 14} 58 Cost of sales Administrative expenses Operating profit Interest payable Profit before Gift Aid Amount donated to Nightingale Hammerson Gift aid adjustment in respect to earlier periods Profit on ordinary activities before taxation Taxation 58 {58} Retained profit At 30 September 2024, Chalkford Limited had retained profit5 of £8k {2023- retained profit5 of £8k) and called up share capital of £lk 12023: £lk), The results and the balance sheet figure5 have been consolidated on a line by line basis within the accounts of Nightingale Hammerson. 9. NET (EXPENDITURE) INCOME FOR THE YEAR This is stated aftercharging: General Fund £'ooo Deslgnated Fund £'ooo Restricted 2024 Total Fund Funds £'ooo £'ooo 2023 Total Funds £'ooo Group Staff costs (Note 10} Auditor's remuneration.. Audit services- relating to current year Audit services- relating to prior year Other services Depreciation {Note 141 16,860 17,044 15,350 46 46 36 li 2,043 618 2,661 2,342 Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 Septeimber 2024 43 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 10. STAFF COSTS 2024 £'ooo 13,619 1.302 313 15,234 2023 £'ooo 11,788 1.105 271 13,164 Group Wages and salaries Social security costs Other Pension costs Payments to agency Redundancy costs 1,687 123 17,044 2.186 15,350 Of payments to agency staff, £587k {2023'. £466k) represents payments in respect of one to one care provision. These costs were covered by one to one care fee income. The number of employee5 who earned £60,000 per annum or more (including taxable benefits but excluding employer's pension contributions) were asfollows: 2024 2023 £60.000- £70,000 £70,001- £80,000 £80,001- £90,000 £90,001- £100,000 £110.001- £120.000 Of those employees who earned £60,000 or more during the year (as defined above), employer contributions totalling£23,49412023: £24,726) were made to defined contribution schernes in respect of ten12023: ten} of them. No contributions were made to defined benefit schemes (2023: £nill. The total remuneration, including benefits, employers pension contributions and employer's national insurance contributions, paid to key management personnel in the year was £639k {2023: £516k}. The average number of employees, excluding agency5taff, analysed by function, was: 2024 2023 Generatingfunds Residential and nursing care services 461 465 493 499 Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 NOTESTO THE FINANCIAL STATEMENTS (CONTINUED) 11. TRUSTEES, REMUNERATION AND EXPENSES No director received any remuneration orexpensesfromthe group orcharityduringtheyear{2023-£nil}. The nature of the charity'5 activities means that from time to time relatives of the directors of the corporate trustee orstaff may be cared for bythe Charity. In 2024,tho directors of the corporatetrustee had a relative cared for by the charity and all fees were set at arm's length12023: one). 12. TRU5TEES' INDEMNITY INSURANCE The insurance provides cover up to £5 million {2023 - £5 million) and the total premium paid in respect of such insurance w35 £44k {2023 - £43k}. The cost of this insurance is included in the total insurance cost. 13. TAXATION Nightingale Hammerson is a registered charity and therefore not liable to income tax orcapital gains tax on income or gai ns derived from their charitable activities. as they fall within the variou5 exemptions available to registered charities. Chalkford Limited donates any taxable profits to Nightingale Hammerson via Gift Aid each year, in the prioryearthere was a tax charge of £46k. Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 Septemoer 2024 45 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 14. TANGIBLE FIXED ASSETS Furniture. Equipment Plant and Vehicles £'ooo £'ooo Freehold Property £'ooo Leasehold Property £'ooo 2024 Total £'ooo Group Cost At l October2023 Additions At 30 September 2024 45,900 2,408 48,308 38,896 18 38,914 1,938 107 2,045 4,011 iii 4.122 90,745 2.644 93,389 Depreciation At l October2023 Charge At 30 September 2024 36,245 908 37,153 2.792 1.106 3,898 1,014 90 1,104 2,473 555 3,028 42,523 2,660 45,183 Net book values At 30 September 2024 At 30 September 2023 11,155 9,655 35,016 36.104 941 925 1,094 1,538 48?06 48,222 No value has been attributed tothe leasehold land of the Hammerson House, Wohl Campus, site as lease covenants require its use as a residential care facility. Part of Hammerson House is being depreciated over 65 and 100 years. These elements have been reviewed for impairment and determined to be reflected accurately. Furniture, Equipment Plant and Vehlcles £'ooo £'ooo Freehold Propert £'ooo Leasehold Property £'ooo 2024 Total £'ooo Charity Cost At l October 2023 Additions Disposals At 30 September 2024 45,899 2.408 41,181 18 2,000 106 4,051 iii 93,131 2,643 48,307 41,199 2.106 4.162 95,774 Depreciation At l October 2023 Charge Disposa15 At 30 September 2024 36,244 908 2,817 1,107 1,041 91 2,512 556 42,614 2,662 37,152 3,924 1,132 3,068 45,276 Net book values At30 September2024 At 30 September 2023 11.155 9.655 37,275 38,364 974 959 1.094 1,539 50,498 50.517 Nightingale Hamnierson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 46 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 15. FINANCIAL COMMITMENTS At 30 September 2024, the charity had £6m financial commitment that had been authorised but not contracted forto refurbish Nightingale House12023: £4ml. There was a financial commitmentcontracted for the refurbishment of Wohl Household totalling £0.3m but which had not been provided for {2023 - £2ml. This refurbishment project was completed in December 2024. 16. FIXED ASSET INVESTMENTS Investment Listed Property Investments £'ooo £'ooo 251 22,677 6,673 2024 Total £'ooo 22,928 6,673 2023 Total £'ooo 26,360 5,008 Group Market value at i October 2023 Additions at cost Disposals at book value Iproceeds'.£7.81m with realised gain of £0.27ml Net unrealised investment11055esllgains Market value at 30 September2024 Cash awaiting investment 16,3981 16,3981 19,2881 2.364 2,364 848 25,316 25,567 22,928 882 882 645 251 Market value at 30 September 2024 Cost of Investments at 30 September 2024 251 26,198 21,176 26,449 21.414 23.573 21,407 238 Shares in subsidiary company £'ooo Investment Listed Property Investments £'ooo £'ooo 251 22,677 6.673 2023 Total £'ooo 22,929 6,673 2022 Total £'ooo 27,781 5,670 Charity Marketvalue at l October2023 Additions at cost Disposals at bookvalue Iproceeds-£7.81m with realised gain of £0.27m) Net unrealised investment Ilossesllgain5 Market value at 30 September 2024 Cash awaiting investment 16,3981 16,398) 2,364 2,364 25,316 25,568 882 15,4571 11,6331 26.361 911 251 Market value at 30 September 2024 Cost of Investments at 30 September 2024 251 238 26.198 21,176 26,450 21,415 27,272 21,415 Nightingale Hammerson Charity Re& No. 207316 Trustees Report and Anntjal Accounts for Year Ended 30 September 2024 47 NOTES TOTHE FINANCIAL STATEMENTS (CONTINUED) 16. FIXED ASSET INVESTMENTS ICONTINUED) Listed Investments All listed investments are dealt in on a recognised Stock exchange. Listed investments comprised the following: 2024 Total 2024 Total £'ooo 4,669 18,392 2,109 2023 Total 2023 Total £'ooo 4,297 15,723 2,284 373 645 23,322 Group and Charity Fixed Interest Equities Alternatives Multi-assets funds Cash Instalments and u nit funds 18¥0 70 8% 180/0 670/0 io% 1,028 26,198 30/0 loo% loo Investment property Investment propertycomprises of a long leasehold flat in a propertysituated in North London purchased by the charity during the year ended 30 September 2014. The directors of the corporate trustee have valued the propety based upon information publicly available relatingto similar properties in the same location. The property is being put up for sale in 2025. Subsidiary Undertaking At 30 September2024, Nightingale Hammerson owned theentire called up share capitalof the following company: Company Chalkford Limited Country of incorporation England Principal activity duringthe year Property development Niohtingale Hammerson Charity Reg. No. 207316 Trustees Report and Annu81 Accounts for Year Ended 30 September 2024 48 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 17. DEBTORS 2024 2023 Group £'ooo 2,252 Charity £'ooo 2,252 Group £'ooo 2,369 Charity £'ooo 2,369 458 Maintenance contributions Amount due from subsidiary undertaking (Note 241 Legacies receivable Donations pledged other debtors Prepayments VAT debtor 4,053 418 4,053 418 2,002 334 2,002 334 442 441 142 141 302 302 509 ioi 508 30 7,467 7,466 5,457 5,842 18. CREDITORS-AMOUNT FALLING DUE WITHIN ONEYEAR 2024 2023 Group £'ooo 1.168 781 Charity £'ooo 1,168 781 Group £'ooo 1,080 413 1,372 108 Charity £'ooo 1,080 413 1,391 108 Amounts held on behalfofre5idents Maintenance contributions received in advance Expense creditors Capital Creditors Social security and other taxation other creditors Accruals Amount due to subsidiary undertaking (Note 24) 833 833 337 97 970 290 257 257 97 965 75 512 75 508 218 4,186 4,134 3,817 4,050 Nightingale Hammerson Charity Re& No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 49 NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) 19. RESTRICTED FUNDS The income funds ofthe group and charity include restricted funds comprisingthe following balances of donations and grants held on trusts to be applied for specific purposes: Ati October 2023 £'ooo At30 September 2024 Income £'ooo Expenditure £'ooo Transfer Group Nightingale House Fixed Assets Fund Nightingale House Capital Fund Hammerson House Capital Fund Weinberg Funds Donations Special Purpose Janetand Howard Bloch funds Intergenerational fund REACH other restricted funds £'ooo £'ooo 7,509 600 70 3,375 409 233 31 1618> 6,891 601 1391 65 124 1261 1301 1671 436 233 21 1121 12461 161 1912) 190 56 188 190 12,415 351 (371 11,817 The transfers between funds relate to releasing grant income for Hammerson House Capital fund and transferring staff costs from unrestricted funds to Donations Special Purpose for allocation against a restricted grant. Ati ortober 2023 £'ooo At30 September 2024 £'ooo Income Expenditure £'ooo £'ooo Transfer £'ooo Charity Nightingale House Fixed Assets Fund Nightingale House Capital Fund Hammerson House Capital Fund Weinberg Funds Donations Special Purpose Janet and Howard Bloch funds Intergenerational fund REACH Other restricted fund5 7,523 600 70 3,375 409 232 31 16181 6,905 601 1391 64 124 1261 3.439 435 232 22 1301 1681 Iiii 12461 161 (911) 190 56 186 12,426 189 11,828 351 (38) Nightingale Hammerson Charity Reg. ND. 207316 Trustees Ret)ort and Annual Accounts for Year Ended 30 September 2024 50 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 19. RESTRICTED FUNDS (CONTINUED) Nightingale House Fixed Assets Fund Thisfund comprises the net bookvalue of buildings and equipment used forthe operation ofNightingale House, purchased with restricted funds. Each year the depreciation on these assets 15 charged to the fund, Nightingale House Capital Fund Thi5 fund comprises monies donated specifically towards the construction and development of new building projects on the site of Nightingale House which are as yet unspent. Hammerson House Capital Fund This fund comprise donations pledged specifically forthe redevelopment of Hammerson House and as yet unspent. Weinberg Funds These funds were donated by The Harry and Jeanette Weinberg Fund and are held for the purpose of substantially upgrading the charity's care homes for the elderly at both Nightingale House and Hammerson House. Doftations Special Purpose These funds comprise donation5 received towards a specific purpose. Janet and Howard Bloch funds These funds comprise monies to be used to provide additional services for the residents, specifically in terms of activities, and the provision of training. Intergenerational Fund This comprises monies received specifically for operation ofthe intergenerational programme. Infectlon control Grant Government grant received to provide support with Covid-19 infection control costs 20. DESIGNATED FUNDS The income funds of the group and charity include the following designated funds which have been set aside for major capital projects: Ati October 2023 £'ooo New designations and transfers E'OOO At30 September 2024 £'aoo Utilised I released £'ooo iii Group Hammerson House building fund Nightingale House building fund Maintenance fund 8,SOO 3,500 12,000 35.518 5,194 8.500 3,500 12,000 34,032 7,280 iii {1,5041 {5381 Hammerson House tangible fixed assetsfund Nightingale House tsngible fixed assets fund 18 2,624 52,712 2,643 12.043) 53,312 Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 51 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 20. DESIGNATED FUNDS {CONTINUED) Atl October 2023 £'ooo New designations and transfers £'ooo At30 September 2024 £'ooo Utllised I released £'ooo 181 Charity Hammerson House building fund Nightingale House building fund Maintenance fund 8,500 3,500 12.000 37,429 5,565 8,500 3,500 12,000 35,943 7.651 181 11,5041 15391 Hammerson Housè tangible fixed assets fund Nightingale House tangible fixed assets fund 18 2,625 54,994 1,268 12,051} 55,594 Hommerson House building fund This wasfund set aside bythe directors forthe redevelopment of Hammerson House, Wohl Campus. This wasduly allocated or released atthe year-end giventhe completion of Hammerson House, Wohl Campus development Nightingale House building fund This comprises monies set aside by the directors to provide funds for redevelopment at Nightingale House. Mointenonce fund This comprises monies setaside by the directors to provide funds forthe ongoing building maintenance of our homes. Hammerson House tangible fixedassets fund This fund comprises the net book value of the fixed assets related to Hammerson House, used for the operation and designated. Every year, depreciation charges is allocated against this fund. Nightingole House tongible fixed osset5 fund The tangible fixed assets fund comprises the net book value of the charity's tangible fixed assets (excluding those accounted for the Nightingale House Fixed Assets Restricted Fund). A decision was made by the directors to separate this fund from the general fund in recognition of the fact that the tangible fixed assets are used in the day to day work of the charity and group and hence the fund value would not be easily realisable if needed to meet future contingencies. Nightjngale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 52 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 21. ANALYSIS OF NET ASSETS BETWEEN FUNDS Designated funds Restricted funds Generalfunds 2024 Total Group Fund balances at 30 September 2024 are represented by: Tangible fixed assets Investments £'ooo £'ooo £'ooo £'ooo 41,314 6,892 3,440 1,485 48,206 26.449 17.503 14,1861 3,261 23,009 4,020 14,1861 3,261 Current assets 11,998 Current liabilities Pension scheme asset Total net assets 26.104 53,312 11,817 91,233 DeslKnated fund5 Restricted funds General fund5 2024 Total Charity £'ooo Fund balances at 30 September 2024 are ropr¢5ented by: Tangible fixed assets Investments Current assets Current liabilities Pension scheme asset £'ooo £'ooo £'ooo 43.593 6,905 3,439 1,484 50,498 26,450 17,442 14,1341 3,261 23,011 3,957 14,1341 3,261 12,001 Total net assets 26,095 55,594 11,828 93,517 22. ANALYSIS OF UNREALISED GAINS I LOSSES Gèneral Designated Restricted funds funds funds £'ooo £'ooo £'ooo 4,369 653 12 2024 Total £'ooo 5,022 12 Group and Charlty Accumulated gain5 on listed investments Accumulated gains on property Total 4,381 653 5,034 Reconciliation of movements in unrealised gains Ilosse51 Unrealised gains at l October 2023 Less.. cumulative unrealised losses released from disposa15 Add: Net unrealised gains on listed investments unrealised gains in year Reallocation between funds in year Accumulated unrealised gains 5,154 {2.7311 702 5.856 1408) {3,1391 2,016 1581 4,381 301 58 653 2.317 5,034 Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 53 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 23. PENSION COMMITMENTS Nightingale Harnmerson operates a defined benefit scheme for certain fornier employees, providing benefits based on final pensionable pay. It also contributes to personal pension plans for current employees. The defined benefit scheme is a Separate trustee administered fund holding the pension scheme a55ets to meet long term pension liabilities. A full actuarial valuation was carried out at 31 March 2020 and updated to 30 September 2024 by a qualified actuary and in line with FRS 102. The major assumptions used by the actuary are shown below. This m05t recent actuarial valuation showed a shortfall of £15,000 (2023: shortfall of £15,000). However, no additional contributions were required to correct the shortfall. This is because itwas estimated that the Schemewas in surplusatthe date of recovery plan. As there are no active members accruingbenefits within the scheme, no further contributions are payable. The employer has agreed to meet all expense5 of the scheme and levies to the Pension Protection Fund, other than investment management charges which are borne by the Scheme. Present values of defined benefit obligation, fair value of assets and defined benefit asset 2024 £'ooo 2023 £'ooo Fair value of plan assets Present value of defined benefit obligation Defined benefit a55et at 30 September 5,704 (2,443) 3,261 5,073 (2,367) 2,706 Reconciliation of opening and closing balances of the defined benefit obligation 2024 £'ooo 2023 £'ooo Defined benefit obligation atstart of period Interest expense Actuarial gains Benefits paid Defined benefit obligation at end of period 2,367 131 2,452 129 76 {131) 2,443 (89) {125) 2,367 Reconciliation of opening and closing balances of the fairvalue of ptsn assets 2024 £'ooo 2023 £'ooo Fairvalue of plan assets at start of period Interest income Actuarial gains / {lossesl Benefit5 paid and expenses Fairvalue of plan 355ets atend of period 5,073 285 4,870 260 477 (131) 5,704 71 (128) 5,073 The artual return on the plan assetsoverthe period ended 30 September2023 was£331k12022: {£448k)). Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 Septeirber 2024 NOTES TOTHE FINANCIAL STATEMENTS (CONTINUED) At30 At30 September September 2024 2023 £'ooo £'ooo Defined benefit costs recognised in other comprehensive income (Losses)Igains on plan assets (excluding amounts included in net interest cost} Experience (lossesllgains arising on plan liabilitie5 Gain resulting from changes in the demographic and financial assumptions underlying the present value of plan liabilities Net interest income 477 71 137) 51 (127) 154 126 131 {3) 288 Expenses Total gain recognised in othercomprehensive income 555 At30 At30 September September 2024 2023 £'ooo £'ooo Assets Cash and cash equivalents Equity instruments Debt instruments Other Total Assets 34 55 3,010 1,663 345 3,550 1,837 283 5,704 5,073 None of the fairvalues of the assets shown above include any direct investments in the employer's own financial instruments or any property occupied by, orother assets used by, the employer. At30 At30 September September 2024 2023 Assumptions Discount Rate Inflation (RPII 5.00 5.70 3.20 3.40 The mortality assumptions adopted at 30 September2022 imply the following life expectancies at age 65: 2024 2023 Retiring today I current pensioner5 Males Females Retiring in 20 years I future pensioners Males Females 22.7 22.7 23.8 23.8 24.0 24.0 25.3 25.3 Niohtingale Hammerson Charity Reg. No. 207316 Trustee5 Report and Annual Accounts for Year Ended 30 September 2024 55 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 23. PENSION COMMITMENTS (CONTINUED) The best estimate ofcontributions to be paid by the employerto the scheme forthe period commencing l October 2024 is £nil12023= £nill. Any expenses of the scheme, other than investment management costs, are expected to be met directly by the employer or reimbursed by the employer if paid by the scheme. Personal Pension Plans and auto enrolment Schemes The total pension cost in respect to personal pension plans and auto enrolment schemes for the year was £0.27m {2023- £0.27ml. 24. RELATED PARTY TRANSACTIONS Chalkford Limited Chalkford Limited became a wholly owned subsidiary of Nightingale House on 2 March 2004 and continues as a wholly owned subsidiary of Nightingale Hammerson post-merger. Two directors of Nightingale Hammerson Trustee Company Limited, Daniel Dayan and Steven Sharpe were also directors of Chalkford Limited. Chalkford Limited made charitable contributions of £nilto Nightingale Hammerson duringtheyearto 30 September 2024 {2023- £58kl. At 30 September 2023 Chalkford Limited owed Nightingale Hammerson £nil12023: £0.4m) in accordance with a loan facility and a further £nil12023.' £58k) being charitable contributions payableto Nightingale Hammerson in respect to the yearended 30 September 2024. At30 September 2024, Nightingale Hammerson owed Chalkford Limited £nil12023- £218kl under a contract forthe construction of property. Trustees donations During the year the charity received donations totalling £121,688 from 11 of the charity's Trustee5 and organi5ations to which they are connected 12023 £179,608 from 7 trustees and connected organisationsl. In addition, £111,70012023-£32,750} was received from the President and Vice President and organisations to which they are connected. 25. POST BALANCE SHEET EVENTS There were no post balance sheet events to report12023: none). Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts for Year Ended 30 September 2024 56 NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) 26. COMPARATIVE FIGURES WITH FULL ANALYSIS BETWEEN FUNDS Consolidated Statement of Flnancial Activities Unrestricted Fund5 2023 General Designated Restricted Total Fund Fund Fund Funds £'ooo £'ooo £'ooo £'ooo Note Income from: Donations and legacies Revenue purposes Capital purpose5 Investments and short term deposits Charitable activities Provision of residential and nursing care Government's infection control and furlough grants Surplus on disposal of tangible fixed assets other sources Total Income Expenditure on". Raising funds Generating donations and legacies Investment management costs Charitable activities Provision of residential and nursing care Taxation Total expenditure 3,643 189 21 65 3.832 21 793 728 19,055 19,055 20 20 113 23,539 113 295 23.834 606 147 606 147 22,605 1,802 570 24,977 13 23,358 1,802 570 25.730 Net (expenditure) for the year before transfers and gainslllossesl on investments Transfers between funds Gainslllosses} on investments Realised gains on disposal of investments Unrealised1105ses1 on investments Net (expenditure) Income forthe year 181 (1,802) (2751 (1,896} 18761 1.138 12621 196 196 16 848 349 1664) (537) {852) Other recognised gains and lo$$e$ Actuarial gain5 on pension scheme Net movement in funds 288 637 288 (5371 (564) 1664) Funds brought forward at l October 2021 23.837 53,376 12.952 90.165 Funds carried forward 30 September 2022 21 24,474 52,712 12.415 89,601 Nightingale Hammerson Charity Reg. No. 207316 rrustees Report and Annual Accounts for Year Ended 30 September 2024 57 NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) 26. COMPARATIVE FIGURES WITH FULLANALYSIS BETWEEN FUNDS (CONTINUED) Income from donations and legacies General Fund £'ooo Restricted Fund £'ooo 2023 Total Funds £'ooo Group Donations: Revenue donations Hammerson House capital fund Legacies Revenue donations Capital fund 2023 Total Funds 2022Total Fund 1,400 189 16 1.589 16 2,243 2,243 3,643 2,729 210 380 3,853 3,109 Income from Investment5 General Fund £'ooo Restricted Fund £'ooo 2023 Total Funds £'ooo Group Income from listed investments by fund manager Investment Income Veritas Investment Income Schroders 87 148 235 87 213 300 65 65 Rental income Interest receivable 2023 Total Funds 2022Total Fund 48S 485 728 65 793 333 381 Nightingale Hammerson Chartty Reg. No. 207316 Trustees Report and Annual Accounts for Year Endud 30 Septeinber 2024 58 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) 26. COMPARATIVE FIGURES WITH FULLANALYSIS BETWEEN FUNDS {CONTINUED) INCOME FROM PRQVISIQN OF RESIDENTIALCAREAND NURSING General Fund £'ooo 19.055 Restricted Fund £'ooo 2023 Total Fund5 £'ooo 19,055 Group Maintenance contributions receivable Total maintenance contributions roceivable 19,055 19.055 EXPENDITURE ON GENERATING DONATIONSAND LEGACIES General Fund £'ooo 270 302 34 606 Designated Fund £'ooo Restricted 2023 Total Fund Funds £'ooo £'ooo 270 302 34 606 Group Staff costs Fundraising, legacy and appeal expenses Support costs 2023 Total Funds Expendlture on provision of resldentlal and nurslni care General Fund £'ooo 13,611 2,766 2,249 1,076 2,903 Designated Fund £'ooo Restrirted Fund £'ooo 18 2023 Total Funds £'ooo 13.629 2.766 2.249 1,088 2,903 2,342 24,977 Staff costs Catering and food Premises day to day costs Medical, care and welfare costs Supportcosts Depreciation 2023 Total Funds 12 1,802 1,802 540 570 22,605 Nightingale Hammerson Charity Reg. No. 207316 Trustees Report and Annual Accounts fof Year Ended 30 September 2024 59