## **TYNWALD' RESIDENTIAL HOME FOR THE ELDERLY, HYTHE** ## **REPORT OF THE TRUSTEES AND** ## **UNAUDITED FINANCIAL STATEMENTS** **FOR THE 12 MONTHS ENDED 31ST MARCH 24** **Registered Charity No.212297** Tynwald Residential Home **Company No.** Registered Charity No.212297 **Trustees** Steven Way Shirley Moberly Christopher Ducat John Wren **Registered Address:** Tynwald Residential Home Hillside Street HYTHE Kent CT21 5DJ **Independent Examiner:** Jonathan Chartres FCA 31 Moor Park Road, Hereford, England, HR4 0RR Tynwald Residential Home ## **Contents** ||**Page**| |---|---| |Report of the Trustees|1 - 3| |Independent Examiner's Report|4| |Statement of Financial Activities|5| |Balance Sheet|6| |Notes to the Fin|7-12| ## **Trustees Report 2023-2024** Kate Alice Butterworth Charity - Charity Registration No: 212297 For the year ended 31 March 2024 Referred to in the Charity Commission as Tynwald Residential Home ## **AGM 2023-2024** Meeting Date 13-11-2024 Welcome to all attending. Attendees: Steven Way, Christopher Ducat, Shirley Moberly, John Wren, Allison Brown, Anna Parry, Jo Keniger. Minutes taken by Jo Keniger – AGM Administrator - 1 Notice of Meeting - Posters have been displayed inside and outside the home for the past four weeks. - The 2023 and 2024 AGMS have been combined due to delays in the 2023 accounts; the notes provided in this document only concern business during 2023-2024. - become available. - 2 Apologies for Absence - No apologies - 3 Minutes of AGM 23-24 - 4 Introduction of Trustees Mr Steven Way – Chairman Chartered Building Surveyor and member of the Institute of Health Care Engineers and Estate Managers Mr Chris Ducat – Deputy Chairman – Hotel Manager Mr John Wren – Businessman with construction bias, Community leader and Churchwarden Mrs Shirley Moberly – Retired Human Resources Administrator in Healthcare and a retired Hythe Town Councillor ## **Steven Way opened the 2023 - 2024 AGM** ## **Trustees Report 2023-2024** We have been delayed in producing the accounts and Charity Commission submission for 2022-2023, which impacts the accounts for 2023-2024. Therefore, the charitable business will be conducted today, with the accounts being circulated post-meeting when available. 1 We will change our accountants from Freedom Accountants to Fresh Eyes Finance from 2025-26. However, Fresh Eyes Finance will review and produce the 2024–25 accounts for Tynwald Residential Home. ## **Election of Office Bearers** - 1 President Residing – non-voting Mr. John Schoner MBE - 2 Invitation to Stand ## **Election of Chair** **Mr Steven Way** Proposed: Chris Ducat Seconded: John Wren Mr. Steven Way, duly elected ## **Election of Vice Chair** **Mr Chris Ducat** Proposed: Shirley Moberley Seconded: John Wren Mr. Chris Ducat duly elected ## **Election of Ordinary Member** ## **Mrs. Shirley Moberley** Proposed: Chris Ducat Seconded: Allison Brown ## **Mr John Wren** Proposed: Chris Ducat Seconded: Allison Brown Mrs Shirley Moberly and Mr John Wren were duly elected ## **Finance Report 2023 – 2024 – Mr Steven Way** Income remains limited by capacity. We are continually given new rules and legislation from the CQC that must be implemented, and changes continue with government legislation regarding minimum wage increases. Our building is over 60 years old and continues to incur increasing costs Copies of the accounts will be circulated when available **Election of Auditors** – Freedom Accounting serving for 23 -24 with accounts verified and produced by Fresh Eyes Finance, who will become our accountants for 24-25 Proposed – Steve Way Seconded – John Wren Carried – Unanimously ## **A.O.C.B** – no other business Steve Way thanked everyone for attending the meeting and officially closed the 2023 – 2024 AGM 2 Tynwald Residential Home ## **Statement of Trustees' Responsibilities** The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Company law requires trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. No Funds are held by a custodian Trustee This report was approved by the Trustees on_____________ and signed on their behalf by ## Chair 3 Tynwald Residential Home ## **Independent Examiners Report** I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th June 2024 ## **Responsibilities and basis of report** As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the ## 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ## Jon Chartres 31 Moor Park Road, Hereford, England, HR4 0RR 4 Page 1 Tynwald Residential Home ## **Statement of Financial Activities** |**Note**
**Income from:**
Grants and Donations
**2**
Charitable Activities
**3**
**Total Income**
**Expenditure on:**
Charitable activities
**4**
**Total Expenditure**
**Net Income**
**Transfers between funds**
**Net movement in funds**
Fund balances at 31st March 2023
**Fund balances at 31st March 2024**|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**2024**
**2023**
**£**
**£**
**£**
**£**
2,131
2,131
3,150
1,097,603
1,097,603
963,111| |---|---| ||1,099,734
-
1,099,734
966,261
(1,043,522)
(1,043,522)
(1,111,725)| ||(1,043,522)
-
(1,043,522)
(1,111,725)| ||56,211
-
56,211
(145,464)| ||-
-
-
-| ||56,211
-
56,211
(145,464)
812,346
-
812,346
957,810| ||868,557
-
868,557
812,346| All disclosures relate only to continuing operations. There are no recognised gains or losses other than the net incoming resources for the year. 5 Page 1 Tynwald Residential Home ## **Balance Sheet** |**Note**
**£**
**£**
**Fixed Assets**
Tangible assets
883,893
883,893
**CURRENT ASSETS**
Debtors
20,393
Cash on short term deposit at bank and in hand
57,732
78,124
**CREDITORS:**Amounts falling due
within one year
(60,285)
**CREDITORS:**Amounts falling due
after one year
(33,176)
(15,337)
**TOTAL ASSETS LESS CURRENT LIABILITIES**
868,557
**TOTAL NET ASSETS**
**868,557**
**Charity Funds**
Restricted Funds
Unrestricted Funds
868,557
**TOTAL FUNDS**
**868,557**
**2024**|**£**
**£**
954,746
954,746
13,219
8,951
22,170
(123,413)
(41,157)
(142,400)
812,346
**812,346**
812,346
**812,346**
**2023**|**£**
**£**
954,746
954,746
13,219
8,951
22,170
(123,413)
(41,157)
(142,400)
812,346
**812,346**
812,346
**812,346**
**2023**| |---|---|---| |||| |||812,346| |||**812,346**| |||812,346| |||**812,346**| For the year ended 31st August 2024 the charity was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of the accounts. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statement were approved by the Trustees and authorised for issue on signed on their behalf by: and were Trustee – Company registration number - 6 Tynwald Residential Home ## **1. ACCOUNTING POLICIES** ## **Company information** Tynwald Residential Home is a private company limited by guarantee incorporated in England and Wales. The address of the registered office is Tynwald Residential Home Hillside Street, HYTHE, Kent, CT21 5DJ ## **1.1 Accounting convention** ## **Basis of Preparation** The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), published in January 2019. The Charitable Company is a public benefit entity for the purposes of FRS 102 and therefore the charity also prepared its financial statements in accordance with the Statement of Recommended Practice, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORP published in January 2019), the Companies Act 2006 and the Charities Act 2011. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. ## **1.2 Income** All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. ## **1.3 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of the direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the assets used. 7 Tynwald Residential Home ## **1. ACCOUNTING POLICIES (continued)** Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Support costs are allocated on a percentage basis as detailed in note 7. Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities. ## **1.4 Tangible Fixed Assets** All assets costing more than £500 have been capitalised and are depreciated on a straight line basis from the financial year after acquisition. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost of each asset on a straight-line basis over its useful life, as follows: ## **1.5 Interest Receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank. ## **1.6 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **1.7 Cash at Bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **1.8 Liabilities and provisions** Liabilities are recognised when there is an obligation at the 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. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. ## **1.9 Financial instruments** The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 8 Tynwald Residential Home ## **1. ACCOUNTING POLICIES (continued)** ## **1.10 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. |**2. ACTIVITIES FOR GENERATING FUNDS**
Donations
Grants
**3. ACTIVITIES FOR GENERATING FUNDS**
Charitable Activities|**Total**
**2024**
**£**
1,631
500
2,131
**Total**
**2024**
**£**
1,097,603
1,097,603|**Total**
**2023**
**£**
150
3000| |---|---|---| |||3,150| |||**Total**
**2023**
**£**
963,111| |||963,111| 9 Page 1 Tynwald Residential Home |**4. Support Costs**
Advertising & Marketing
Audit & Accountancy fees
Bank Fees
Book keeping
Cleaning
Clinical Purchases
Consulting
Entertainment
General Expenses
Household Costs
Insurance
IT Software and Consumables
Postage, Freight & Courier
Rates
Repairs
Staff costs
Telephone
Travel
Utilities
**5. Governance Costs**
Independent examination – current year|**Total**
**2024**
**£**
2,273
1,200
1,063
1,300
20,789
6,738
9,102
5,745
39,828
54,957
11,891
7,802
294
8,834
46,415
12,622
10,694
89
29,912
271,551
**Total**
**2024**
**£**
300
300|**Total**
**2023**
**£**
1,775
1,200
1,526
1,290
21,628
5,972
8,223
6,032
21,332
39,615
17,746
15,348
182
10,642
52,395
10,406
11,676
167
33,185| |---|---|---| |||260,342| |||**Total**
**2023**
**£**
-| |||-| 10 Tynwald Residential Home ## **NOTES TO THE FINANCIAL STATEMENTS** ## **6. Trustees Remuneration and Reimbursed Expenses** None of the trustees (or any persons connected with them) received any remuneration, benefits or reimbursement of expenses from the charity during the year. |**7. Staff Costs**
Salaries and Wages
Social Security Costs
Pension Costs|**Total**
**2024**
**£**
778,605
49,771
(56,404)
771,971|**Total**
**2023**
**£**
767,996
54,376
29,010| |---|---|---| |||851,383| ## **8. Tangible Fixed Assets** |**ngible Fixed Assets**|**Buildings**| |---|---| ||**Freehold Property**| ||**£**| |Cost|| |As at 1 April 2023 and March 2024|1,127,914| |Depreciation|| |As at 1 April 2023 and March 2024|244,321| |Net Book Value|| |2024|883,593| |**9. Debtors**
Accounts Receivable
Prepayments
Stock Supplies|**Total**
**2024**
**£**
20,393
-
-
20,393|**Total**
**2023**
**£**
13,120
8,951
1,200| |---|---|---| |||23,271| 11 Tynwald Residential Home ## **Contents of the Financial Statements for the 12 Months Ended 31st March 2024** ## **10. Creditors: Amounts falling due within one year** |Trade Creditors
Other Taxes & Social Security
Other Creditors
Accruals|**2024**
**2023**
**£**
**£**
16,206
8,958
42,256
114,454
1,824
1,417
-
1,812| |---|---| ||60,285
126,642| ## **11. Company Limited By Guarantee** The company is limited by guarantee and has no share capital. The liability of its members is limited to £10 per member. ## **12. Related Party Transactions** There were no Related party Transactions for the period 12