2023-03-31-accounts - The Rugby Free Church Homes For The Aged

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Charity Information
Officers and Committee	Members
Report ofthe Trustees
Independent Auditor's	Report
Statement ofFinancial	Activities	10
Balance Sheet		12
Statement ofcash flows		13
Notes to the Financial Statements		14
Financial Support		21

REGISTERED OFFICE	Bilton House
	5 Bawnmore	Road
	Rugby
	Warwickshire
	CV22 7QH
REGISTERED CHARITY NUMBER	214479
AUDITORS	Atkinson Finch &Co
	Chartered Accountants
	Central Chambers
	45-47 Albert	Street
	Rugby
	Warwickshire
	CV21 2SG
BANKERS	Lloyds Bank	Pic
	14Church Street
	Rugby
	Warwickshire
	CV21 3PL
FINANCIAL ADVISERS	Rathbone Investment		Management	Limited
	159New Bond Street
	London
	W1S 2UD

FOR THE YEAR ENDED 3	1ST	MARCH 2023
			General	Care	Capital	2023	2022
			Fund	Fund	reserve
		Notes	6		6
INCOMING RESOURCES
Voluntary income Donations Legacies		2 2	5,195	18,244 1,000		23,439 1,000	24,373 5,000
Activities for generating funds
Garden party and coffee mornings
Investment income		5	5,428	9,580		16,008	15,342
Incoming resources from	Charitable
Activities Residents fees Other income		6	1,510,759			1,510,769	1,359,593 44,466
TOTAL INCOMING RESOURCES			1,522,392	28,824		1,551,216	1,448,774
RESOURCES EXPENDED
Costs ofgenerating funds Investment management charge			979	1,458		2,437	2,212
Charitable activities
Salaries and wages (Care) Food		4	1,201,962 98,501			1,201,962 98,501	1,005,778 88,693
Household expenses Light and heat Rates and water			44,310 55,007 5,817			44,310 65,007 5,817	40,886 50,481 2,154
Residents amenities			10,784			10,784	10,542
Salaries and wages (Admin) Insurances		4	50,471 10,391			50,471 10,391	51,889 10,393
Bank charges Telephone, printing, postage Repairs and renewals Professional fees	and	advertising	128 2,961 95,762 7,113			128 2,961 95,762 7,113	128 2,945 89,659 9,553
Audit costs and publications Covid Grant Spending General expenses Staff training Depreciation			4,140 16,532 6,390 54,874			4,140 16,632 6,390 54,874	3,720 42,111 18,154 2,819 54,874
			1,575,243			1,675,243	1,484,809
TOTAL RESOURCES EXPENDED			1,675,222	1,458		1,677,680	1,487,021
NET (OUTGOING)/INCOMING	RESOURCES
BEFORE TRANSFERS			(153,830)	27,366		(126,464)	(38,247)
Transfers between funds			74,391	(25,740)	(47,651)
NET (OUTGOING)/INCOMING FOR THE YEAR	RESOURCES		(79,439)	626	~47651	~126,484	, (38,247)

FOR THE YEAR ENDED 31S	TMARCH 2023
		General	Care	Capital	2023	2022
		Fund	Fund	reserve
	Notes	6	6
NET (OUTGOING)/INCOMING	RESOURCES
FOR THE YEAR (brought forward)		(79,439)	626	(47,651)	(126,464)	(38,247)
OTHER RECOGNISED GAINS	AND LOSSES
(Losses)/gains on investment	assets
- Realised - Unrealised	3~21,714		~32,355		~54,579	42,416 ~27,557
NET MOVEMENT IN FUNDS		(101,153)	(31,739)	(47,651)	(180,543)	(22,882)
BALANCE BROUGHT FORWARD		368,627	550,337	1,545,286	2,464,250	2,487,132
BALANCE CARRIED FORWARD		267,474	518,598	1,497,635	2,283,707	2,464,250

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2	023
					2023	2022
						f
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash provided by (used in) operating	activities				~(88.887	~6,661
Cash flows from investing activities: Dividends and interest from investments					16,008	15,342
Purchase ofproperty, plant and equipment Proceeds from sale of investments Purchase of investments					(7,223)	802,065 ~8D9,442
Net cash provided by (used in) investing	activities				8,785	7,965
Cash flows from financing activities:
Repayments ofborrowing
Cash inflows from new borrowings
Receipt ofendowment
Net cash provided by (used in) financing	activities
Change in cash and cash equivalents in the Cash and cash equivalents at the beginning	reporting period ofthe reporting period				(80,102) 283,397	1,304 282,093
Cash and cash equivalents at the end of	the reporting		period		203,295	283,397
RECONCILIATION OF NET INCOME TO NET CASH		FLOW
FROM OPERATING ACTIVITIES
					2023 f	2022 f
Net movement in funds for the reporting financial activities)	period (as per		the statement	of	(180,543)	(22,882)
Adjustments for: Depreciation Losses/(gains) on investments Dividends and interest from investments (Increase)/decrease in debtors (Decrease)/increase in creditors					54,874 54,079 (18,008) (937) ~(352	54,874 (15,365) (15,342) (6,110) ~1.836)
Net cash provided by operating activities					~88,882)	~6,66(
ANALYSIS OF CASH AND CASH EQUIVALENTS
					2023 f	2022 f
Cash at bank and in hand					202,811	282,920
Cash held in investments					484	477
Total cash and cash equivalents					203,295	283,397

Income ha	s been taken to the cr	edit ofthe statement offinan	cial activities on the follo
Donations	and legpcies	accruals basis
Residents	fees	accruals basis
Investment	income	accruals basis
Specific appeals		accruals (matched	with related expenditure)

Freehold	pioperty	1%straight	line	on main property
		4% straight	line	on new building
		10%straight	line on pathways
Fixtures	and fittings	10%straight	line
		4% straight	line	on new building	fixtures and fittings
		3years straight		line on office equipment

			2023	2022
Donations
Donations from the Churches:
Baptist United Reformed Society of Friends	Church	- Rugby - Rugby	1,050 500 400	1,000 160 400
Daventry friendship Hillmorton Paddox Methodist			20	280
Broadwell Methodist			132	92
Other donations:
Miscellaneous
For garden shrubs - Paddox Methodist URC - For garden shrubs URC Brinklow- Rev Maloney retirement			321 257 100	430
Collections Friends of Bilton House			2,215	'2,055
From Relatives				3,410
Bilton Poor			200	200
In Memoriam:
Gift aid
Rachel Wells			440
Alan Coulthurst			464
A Franklin			1,570
Paul Gilbert			6,000
Amy Haddon Michael Fardon				210 5,000
Bill Graham				100
June Jarvis				25
Regular donations Society of Friends Single gifts and donations Gift aid tax reclaimed			7,000 185 2,585	8,400 35 2,576
			23,439	24,373

DONATIONS AND LEGACIES RECE	IV	ED (c	on	tinued)
					2023	2022
					F	f.
Legacies Audrey Wood Tony Taylor					1,000 1,000	5,000 5,000
FEESPAYABLE TO AUDITORS
					2023 f	2022f
Relating to audit services					4,140	3,720
Relating to non-audit services					4,140	3,720
STAFF NUMBERS AND COSTS
					2023	2022
The average number ofpersons employed			by	the charity during the year was:
Care and support workers Administrative staff					49 2	43 2
						45
Employment costs of all employees	included			above comprised:		f
Gross wages and salaries Employers national insurance Employers pension scheme contributions Agency costs		(see	below)		1,046,928 75,001 20,908 111,446 1,254,283	942,646 59,627 18,339 59,500 1,060,112

employees. There were outstanding contributions ofF2,	employees. There were outstanding contributions ofF2,	employees. There were outstanding contributions ofF2,	385(2	022 - f2,195)at the year end.
No remuneration or expenses were payable to Trustees			during	the year. The total remuneration	paid to key
management personnel	was F97,965(2022 - F89,705).
INVESTMENT INCOME
				2023 f		2022f
Bank interest receivable					187	5
Dividends receivable - UK					4	7,124
Dividends receivable - Overseas						3,391
Fixed interest and unit trust income - UK				15,817		4,822
				16,008		15,342
OTHER INCOME
				2023f		2022f
Covid Infection Control	Grant					24,405
Covid Sick Pay Grant Workforce Recruitment	and Retention	Fund				2,355 17,706
						44,466

COMPARATIVES FOR TH	E ST	ATEM	EN	T OF FINANCI	AL ACTIVITIES
					General	Care	Capital	2022
					Fund	Fund	reserve E	f
INCOMING RESOURCES
Voluntary income Donations					8,027	16,346		24,373
Legacies						5,000		5,000
Activities for generating funds
Garden party and coffee mornings
Investment income					5,991	9,351		15,342
Incoming resources from Residents fees	Charitable		Activities		1,359,593			1,359,593
Other income					44,466			44,466
TOTAL INCOMING RESOURCES					1,418,077	30,697		1,448,774
RESOURCES EXPENDED
Costs ofgenerating funds Investment management charge					864	1,348		2,212
Charitable activities
Salaries and wages (Care) Food					1,005,778 88,693			1,005,778 88,693
Household expenses					40,886			40,886
Light and heat					50,481			50,481
Rates and water					2,164			2,164
Residents amenities					10,542			10,542
Salaries and wages (Admin) Insurances					51,889 10,393			51,889 10,393
Bank charges					128			128
Telephone, printing, postage Repairs and renewals	and	advertising			2,945 89,669			2,945 89,669
Professional fees					9,563			9,563
Audit costs and publications					3,720			3,720
Covid Grant Spending					42,111			42,111
General expenses					18,154			18,154
Staff training					2,819			2,819
Depreciation					54,874			54,874
					1,484,809			1,484,809
TOTAL RESOURCES EXPENDED					1,485,673	1,348		1,487,021
NET (OUTGOING)/INCOMING	RESOURCES
BEFORETRANSFERS					(67,596)	29,349		(38,247)
Transfers between funds					83,744	(28,870)	(54,874)
NET (OUTGOING)/INCOMING	RESOURCES
FOR THE YEAR					16,148	479	(54,874)	(38,247)
OTHER RECOGNISED GAINS AND LOSSES
-Realised (losses)/gains on investment				assets	16,564	25,852		42,416
-Unrealised (losses)/gains	on investment			assets	(10,564)	(16,487)		(27,051)
NET MOVEMENT IN FUNDS					22,148	9,844	(54,874)	(22,882)
BALANCE BROUGHT FORWARD					346,479	540,493	1,600,160	2,487, 132
BALANCE CARRIED FORWARD					368,627	550,337	1,545,286	2,464,250

7 TANGIBLE FIXED		S	SETS
								Freehold	Fixtures and
								property f	fittings f	Totalf
COST
At 1stApril 2022								2,282,52T	432,135	2,714,662
Additions								7223		7,223
At 31st March 2023								2,289,750	432,135	2,721,885
DEPRECIATION
At 1stApril 2022								832,440	336,936	1,169,376
Charge for the year At 31st March 2023								43,021 875,461	'I1,853 348,789	54,874 1,224,250
NET BOOK VALUE
At 31st March 2023								1,414,289	83,346	1,497,635
At 31st March 2022								1,450,087	95,199	1,545,286
Cost or valuation at		31st March 2023 is represented				by:
At valuation on 31stDecember				1990				750,000	175,000	925,000
At cost								1,539,750	257,135	1,796,885
								2,289,750	432,135	2,T21,885
The cost ofthe original			property	is not known.
The property has not	been re-valued				since 1990,however,		the	Trustees are confident	that the current	value is
in excess ofthe net book value.
INVESTMENTS
									2023	2022
									f	f
Market value
Opening market value									684,115	661,374
Additions										809,442
Disposals at opening Unrealised (loss)lgain	market value on investments								684,1'I6 ~54,079(	~(759,540 711,167 ~(27,051
At 31st March 2023									630,037	684,116
Cash held by Investment			Managers						484 630,521	477 684,593
The historical cost ofthe			investment		portfolio (excluding	cash)		at the year end was f714,395 (2022 -f714,395).
All the investments are		held primarily			to provide an investment			return for the charity.
									2023 f	2022 f
Investments at market		value comprised:
Equities shares - UK Investment trusts and	unit trusts			- UK					100 629,937	98 684,018
									630,037	684,116

			2023		2022
			6		E
Rents due			21,713		20,379
Income tax recoverable			2,585		2,576
Other debtors					1,461
Prepayments			11,729 36,027		10,674 35,090
10 CASH AT BANK
			2023		2022
			8
Lloyds Bank Pic - Held by investment	current accounts managers		202,504 484 202,988		282,450 477 282,927
11 CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
			2023		2022
			6		F
Trade creditors			8,802		12,637
Social security and other Other creditors		taxes	22,109 21,910		18,663 14,599
Deferred income			13,433		3,910
Accrued expenses			17,033 83,287		33,610 83,639
12 CAPITAL RESERVE
			2023		2022
			E
Balance at 1stApril 2022 Transfer (to)/from General		Fund	1,645,286 ~47651	~,	1,600,160 54,874)
Balance at 31st March 2023			1,497,635		1,545,286

ANALYSIS OF NET ASSETS BETWE	EN FUNDS
	General	Care	Capital	Total
	fund F	fund F	reserve f	funds 8
Tangible fixed assets Investments	214,381	415,656	1,497,635	1,497,635 630,037
Current assets Current liabilities At 31st March 2023	136,380 ~83,28T) 267,474	102,942 518,598	1,497,635	239,322 ~8328,7 2,283,707
Tangible fixed assets Investments	274,422	409,694	1,545,286	1,545,286 684,116
Current assets Current liabilities At 31st March 2022	177,844 ~(83,639 368,627	140,643 550,337	1,545,286	318,487 ~(83,639 2,464,250