RUGBY FREE CHURCH HOMES FOR THE AGED
REPORT OF THE TRUSTEES AND
AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
Atkinson Finch 8 Co
Chartered Accountsnts
Central Chambers
4547 Albert Street
Rugby
larwickshi
CV212SG

RUC?B Y FREE CHURCH HOMES FOR THE AGED
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
Page
Charity Inforrnatlon
Offlcern and Commltt•• Mfrmbern
Report of the Tru8t•o8
Report of th• Ind•wndant Audltorn
statemont of Flnanclal Acllvltl•s
10
B¥lance Sheet
12
Cash Flow Statement
13
Not￿ to the Fln•n¢lal Ststoments
14
Flnan¢lal Support
21

RUCIBY FREE CHURCH HOMES FOR THE AGED
CHARITY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024
The Charity is governed by a Trust Deed dated 10th October 1946 and is ¢onstituled as an unincorporated
aSsociat￿n The Free Churches named in the Deed are each entit￿ to elect three people to serve on the
Management Committee. The Churches are'.- The Bapts"st Church, The Melhodisl Church, The Salvation Army,
The SOc￿ty of Friends and the Congregat￿n81 Church (now incorporated within the United Reformed Church).
REGISTERED OFFICE
Bitton House
5 Bawnmre Road
Rugby
Warwickshire
CV22 7QH
REGISTERED CHARITY NUMBER
214479
AUDITORS
Atkinson Finch & Co
Chartered Accountants
Central Chambers
4547 Albert Street
Rugby
WaThvickshire
CV21 2SG
BANKERS
Lbyds Bank P
14 Church Street
Rtsgby
Warwickshire
CW21 3PL
FINANCIAL ADVISERS
Ralhbone Investment Management Limited
159 New Bond Street
London
W1S2UD
Page 1

RUGBY FREE CHURCH HOMES FOR THE AGED
OFFICERS ANO COMMIThEE MEMBERS
FOR THE YEAR ENDED 31ST MARCH 2024
PRESIDENT
(position currenty vacant)
VICE PRESIDENT
{pOsit￿n currently vacant)
CHAIRMAN
Revd R J Maloney
SECRETARY
Mr D Vvells
TREASURER
MrSRBird
MANAGER
Miss S J Ashby
CUSTODIAN TRUSTEE
Official Custodian for Charities
MANAGING TRUSTEES
Revd R J Maloney
MrSRBird
Mr D Wells
Mrs H Cox
Mrs M J Prager
Mrs R Pugh
Mr D Knight
Mrs B Griffith$
Mrs E Lambert
Mrs J Lewis
resigned 11 May 2023
appointed 11 May 2023
appointed 11 May 2023
FRIENDS OF BILTON HOUSE
Mr P Smith
Mrs C Sidley
Mrs E Mann
MrSRBird
Mrs J Glanville
Mrs C Whitehouse
Mr J Reeve
Mrs C Wlliams
Mrs C Howafd
Mrs B Rose
Miss S J Ashby
Chairperson
SENIOR MANAGEMENT
Miss S J Ashby
Mrs S Moses
Mrs T Butler
Mrs D Collinson
Seconded to Manager
Assistant manager
Assislanl manager
Seconded to Assistant manager
Page 2

RUC?BY FREE CHURCH HOAIES FOR THE AGED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2024
The Trustees Present their report with the financial ststements of the charity Iregislered number 214479) for the
year ended 31st March 2024. The Trustees have adopted the provistons of Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in a¢cordance with the
Financial Reporting Stsndard applicable in the UK and Republ￿ of I￿land (FRS 102) effective 1 January 2019).
OBJECTIVES AND PUBLIC BENEFIT
The charity Rugby Free Church Homes for the Aged. otherwise known as Bilton House was established in 1946,
by trust deed. This trust deed established the objects of the charrty as to make provisK)n for the welfare. comfort.
treatment and relief in srckness and old age of aged and poor persons belonging to. or connected with, or
recornmended by, any of the F￿e Churches of Rugby or Fts surrounding district namely the Baptist Church,
The Congregational Church. The Methodist Church. The SalvalKJn Amiy and The s￿Iety of Friends, and in particular
and for those purposes lo provide and maintain homes for such aged and for poor persons al the Billon House
premises and any other premises which may from lime to tim8 be acquired by or on behalf ofthe charity.
The Tiustees aim for Bilton House to provide a caring and Comfortab￿ home. wrthin a Christian ethos, meeting
each resident's sccial, physi¢al and spiritual needs. offering the highest stsndards of care, where each resident has
the choice lo live as independently as helshe is ab￿, supported by the level of care each one needs. A high level
of stsff enables this aim Stsffing rat￿5 exceed any Comparable IK1￿ Within the a￿0. The Home and ils
furnishings and fittings, is well maintained throughout.
Residential fees are sel lo meet the needs ol the Home wrthout makirwj any profit. Residents with insufficient fvnds
or income lo meet the fees benefit from the support of the care fund. They are supported at a basic level by
Warwi¢k$hire Social Services and the care fund pays the difference up to the full fee. For the year ended 31st March
2024 £6,24812023 - £26,740> was allocaled from the care fvnd for this purpose.
Chanlable funds raised by the friends provide free outings and activil*s for our resKl&nts and also contribute
towards other costs such as chiropody.
The charity is govemed by a Management Commrttee made up of ￿MberS elected by these churches,
together with a number of co-opted members, and this committee forms the body of Managing Trustees. The
Official Custodian for Charities carries out the function of preV￿u$ custodkqn Iruslees.
There is a separate committee for the selection of resKlents. and a -Friend$ of Bilton House" committee whose
aim is lo improve liaison with the churches to provKle pastoral and social care for the residents and to publi¢i$e
Billon House. All of the members of the Management Committee work for the chanty on a voluntary basis.
The Managemonl Committee employs a Care Manager, AdministralKin Manager. three Assistant Managers,
Care Staff, Caterin9 Staff, Domestic Staff, a Maintenance Engineer and a Clerical Assistant lo operate the Home
and care for the residents. Senior Care Staff have been appointed by promotion of existing staff. The Care
Manager is responsible lo the Management Committee for the operation of the Home.
The officers of the committee, the Chairman, the Secretary and the Treasurer meet regulaty with the Care
Manager and the Administration Manager lo monrtor responsibilities of the ca￿ Manager and the operation of
the Home, to share, discuss and resolve short lem problems wh￿h may arise and lo inibate long term policy for
discussion by the Management Committee.
STATEPJIENT OF TRUSTEES RESPONSIBILMES
The Managing Trustees are responsible for preparing the ffinancial statements for each financ￿1 year in accordance
with applicable laws and Unrted Kingdom Accounting Standards (Untted Kingdom Generally Accepted Accounting
Practice).
Charity law requiTrs the Managing Trustees to prepare financial statements each year which give a true and fair
view of the state of affairs of the charity and of the incoming resources and application of fvnds of the charity
for that period. In preparing these financial statements, the Managing Trnslees are required to..
Page 3

RUGBY FREE CHURCH HOMES FOR THE AGED
REPORT OF THE TRUSTEES (continued)
FOR THE YEAR ENDED 31ST MARCH 2024
STATEAIENT OF TRUSTEES RESPONSIBILfflES....conL
select suitable accounting policies and then apply them consistenty..
obseNe the melhcxys and prinCip￿S in the applicabk Charity SORP,.
make judgments and estimates that are reasonable and prudent.,
prepa￿ the financ￿1 statements on the going concem basis unfess it ts inappropriate to presume that the charity
will continue in business.
The Managing Trustees are ￿￿OnsIble for keeping Fyoper accounting Tecords whKh disclose with reasonable
accuracy al any lime the financial positton of the chanty and to enable them to ensure that the financh81 statements
Gomply with the Charities Act. They are also responsible for safeguarding the assets of the chanty and he￿￿ for
taking ieasonable steps for the prevention and deteCt￿n of fraud and other irregularities.
CHAIRMAN'S REPORT
Bilton House has continued with a wide range of voluntary activi￿eS offered to the reshyents aimed at embracing an
holistic approach lo their well being This is in keeping with our Christian ethos, including Christian Wofshop in various
forms and the appointment during the year of a new chaplain following the ret1￿ment of the previous post holders after
many years of dedicated service. Bilton House continues to maintain a strong Chnstian ethos of love and caring which is
reinforced both in words and actions. Staff and others a￿ encouraged to spend lime talking lo residents based on
principle that we work in Iheir home rather than they live in our workplace. The Officers in particular wish to thank the
Free Churches for their support to the horr￿ and for providing praCt￿al, pastoral and spritual care lor many of ils
residents. We also thank all those who support Ihe home and who give their time and energy so willngly when they are
able lo do so.
We continue lo make both physical alterations and decorative enhancements lo areas of thi$ Home to enhance the living
and working environment. As indi¢aled in previous reports, heating and sufficient hol water had been a growing problem.
During 2023 we appointed a consijltanl to revew our systems and advise on the capacity requirernenls to meet our
needs. As a result of the consultant's findings. we installed a new system of tsvin boilers with an output of up lo 180kw at
an approximate ¢osl of £40k and are pleased to report that this new system both meets our needs and has redLtced
overall fuel costs.
Following an inspection by WarwiCk$hi￿ Fire and Rescue Services in 2023, we appointed a Third Party to undertake a
CoMp￿henSlve Fire Risk Assessment. From this Risk Assessment we developed a comprehensive action plan and have
upgraded the fi￿ alarm system to L1 (the h￿hest grade) and improved the fire comparbnents including divrding the roof
space into fire proof areas.
In May 2023 we installed solar panels on the roof rated at a maximum of 12kw wrth an installed cost of £27k. To dale
(August 20241 the system has produced 15.9 megawatt hours of power saving around £8k during this period. Fo￿ard
prcjections expect savings lo be considerably lower due to electricty prrce reductions.
Early in 2023, our Care Manager resigned and the Trustees unanimousty agreed to the Deputy Care Manager being
seconded for 1 year to Care Manager (with effect from 1 st April 20231. There was a very posrtive response of both staff
and residents lo this secondment. Dunng the earty part of 2024, we advertised t*)th internally and externally for the
permanent post of Care Manager and, following short listing and a competitive interview stage, we V￿re pleased to
confirm that the seconded Care Manager was appointed to the permanent rote in May 2024.
As indicaled in our previous report, we had an unannounced Warwickshire County Council Qualty Assurance visit during
2023. 11 was particularly pleasing to read their summary of that visit which included "Officers observed there lo be a
lovely calm and al limes jovial atmosphere within the home. Staff and residents engaged respectfully with each other and
staff were seen to be kind and caring as they supported resKJents. As carers inleraded Te5Klents, it was evident staff
knew the resKYents well and Underst￿)d their indivhdual needs, likes and dislikes." As with any inspection, there were
areas lor improvement and our Care Manager and her team afe working on these areas.
We are fortunate to retain a team of professD)nal managers. Ca￿rS and domeststs WIKI pfovhde a rich, ¢omfortab18
and safe environment in wh￿h our reshdents INe.
The 2011 Charib'es Act requires us to disclose the assistance received from our professional advisers. We have
again employed Atkinson Finch & Co as auditors. There is a list of all the donath)ns and legacies receivgj during
the year included in the followng ststements of accounts.
Page 4

RUCYBY FREE CHURCH HOMES FOR THE AGED
REPORT OF THE TRUSTEES Icontlnued)
FOR THE YEAR ENDED 31ST MARCH 2024
REVIEW OF ACTIVITIES
We continue to encourage staff to train for NVQ and a number have gained Creditab￿ passes during the year.
We continue lo believe that a key benefit lo residents arises from the range of charitable supported activities and
more opportunities for conversations with volunteers and visrtors. Our activities organiser on the staff. supported by
volunteers offers a wide-ranging programme of slimulaling and enjoyable day to day acb'vrties for residents forming an
important part of the life of the Home. A programme ol these events is highlighted on our notice board and stsff are
encouraged lo remind residents of the voluntary opportunrtEs. One hwjhlighl was the ￿lebratiOn paty for King
Chartes 111 Coronation which was much apprecialed by all who attended.
The Free Churches of Rugby have an important influence on the lrfe of the and rts residents. An aftemoon
service is led by extemal Clergy and Lay people at the each Sunday. and a Feifowship meeting held each
Wednesday morning. These are led by members of Ihe-sending" chur¢hes and much appreciated by the residents.
Regular communion services are also held in the home by the Ministers of the Churches.
CHARITABLE BENEFIT
The Trustees ale confident that each ￿Sident benefits by having Billon House as their hoTh. Vle provide the highest
level of care. We meet each resmlenfs social, physical and spirrtual neets. There is no margin of profil to be paid lor.
Chaiitable funds raised by the fnends provide free outings and activitses for our ￿SidentS and also contribute towards
other costs such as chiropody. Subject lo some constraints, each resKlenl has the confidence that if their own funds
become insufficient lo meet residentkil fees there is supFort from the care fund.
FUTURE PLANS
Future plans for Bilton House fo¢u$ on maintaining and improving our h￿h stsndards of care, ensuring that we a￿ayS
achieve a rating of al least"Good- by CQC Inspectors and we seek to be recognisod as outstanding.
The care needs for a significant number of our residents has increased in recent years and we will continue lo explore
ways to address that progressive issue based on our ethos of offering pempnent residents a home for the rest of
their life where reasonably practical to do so.
FUTURE RISKS
Underfunding by Warwickshire County Counul of Social Seryice supported residents remains a major financial risk,
although the number of supported reS￿ents inVo￿ed has reduced consKlerably. We anticipate that the gap will widen
year on year betsveen the rale provided by and the actual ¢ost lo the chanty of the resident. We are fortunate in
that alrrvJsl all ol our residents are self funded and our objective is for a balanced budget each year wrthoul profit. We
will continue lo seek lo mitigate the risk by exFecling Sc¢ial Service residents to Klentify top up means prior to
permanent residency. Previous substants'al increases in energy and food costs ￿ to a necessity to significantly
incease iesidents rents in 2024.
FINANCIAL YEAR
The financial year runs from 1st April to 31st March. WapMckshI￿ County Council So¢rdl Services makes the
changes al the beginning of ApTiI to payments for the residents whom they supwrt. Annual pay rises for staff al
Bilton House are made for the teginning ofApril and rents for re$hJents are also ffjviewed and changed at this bme.
Page 5

RUC?B Y FREE CHURCH HOMES FOR THE AGED
REPORT OF THE TRUSTEES (continued
FOR THE YEAR ENDED 31ST IAARCH 2024
THE GENERAL FUND
The general fund covers day lo day activities of running the Home. and the income is derived from the residents,
rents and investments together with donations and legacies. It is the current policy of Ihe Trustees to set rental
in¢ome, including Care Fund grants, lo cover the basic running costs. allThving the remainder to be used for
developm8nt and improvement of the facilit￿s.
GENERAL BANK BALANCE - RESERVES POLICY
In order lo ensure that all bills and charges are paTrd promptty it is policy lo maintain the general bank balance at a
minimum of 5% of annual expenditure and an average of about 80A represersts'n9 be￿een 2 IA and 4
weeks wages and costs.
THE CARE FUND
The Trustees policy has been lo maintain the value of the fund at market value {i.e. not to spend the capitsl of Ihe
fund). Income generated by the fund is used firstly lo provide financial support for any resident who does not qualify
fof full support of residential fees from public fvnds. and who has inSUffic￿nt means personally and no family or
other financkgl backing. secondly lo provide overall support to all residents in keeping rents to a minimum whilst
providing the highest level of care possible wrthin the limits of the funds available.
THE CAPITAL RESERVE
This represents the nel book value of the building and other assets. The transfer represents the cosl of additions
lo fixed assets less the depreciation charged.
INVESTMENT POLICY
The investments, held for invest￿nt purposes to help SubS￿lSe fees, are managed by investment brokers.
Ralhbones in their Core lnves1ff￿nl Fund for Charities. The ethical investment poly for this fund is. We don't invest
directly in any company that manufactures tobacco or tobacco products. or derives more than 100kn of ils sales from
gambling, high-inleresl rate lending, pornography or from the manufacture of a1￿h01 or armaments"
For 2023124 the income, was £18,049 which is 2.86% of the capital at 31 March 2023. During the year we
withdrew £50,000 towards the cost of ffire safety improvements.
RISK ASSESSMENT
Systems are in place lo miligale nsks as they are ldenlrf￿d.
The work at Bilton House and the qualty of lrfe of the residents is dependent on the dedicated work and good humour
of the staff and is enriched by the serwice and interest of friends. who give theif lime, their presence and their money
so generously. My thanks to each and everyone of you who has been invofved wth 8itton House over the last year.
ON BEHALF OF THE TRUSTEES:
S R Bird - Trustee
Revd R J Maloney - Tnjstee
Date..
Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
RUGBY FREE CHURCH HOMES FOR THE AGED
Opinlon
We have audited Ihe financial statements of Rugby Free Church Homes for the Aged (the 'charity') for the year ended
31st March 2024 which compnse the Statement of Financial Activrties, the Balance Sheet, the Cash Flow Statement
and notes to the financial stalemenls, including a summary of signikant accounting pol￿￿S. The financial reF)Orting
framework that has been applied in their preparation is applicable law and Unrted Kingdom Accounting Standards
Iunited Kingdom Generalty Ac¢epled Accountsng Practice).
In our opinion the financial statements..
give a true and fair view of the slate of the ¢harity's affairs as at 31st March 2024 and of its incoming resources and
application of resources, for the year then ended,.
have been properly prepared in accordan¢e wrth United Kingdom Genefalty Accepted Accounting PraCt￿e., and
have been prepared in accordance wrth the requirements of the Charits"es Act 2011.
80818 for oplnlon
We conducted our audit in accordan¢e with InlematKinal Slandard$ on Audrting (UK) IISAS IUKI) and applicable law.
Our responsibilities under those standards a￿ fvrther described in the Auditors responsibilities for the audit of the
financial statements section of our report. We are independenl of the charty in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethi¢al Standard,
and we have fulfilled our other ethical responsibilities in accordance with these requirements. We beI￿ve that the audit
evidence we have obtained is sufficient and appropnate lo provKle a basis lor our opinion.
Conclu•lon• relatlng to golng conc•m
In auditing the financial stalemenls, we have concluded that Ihe trustees. use of the going concem basls of a¢¢ounts'ng
in the preparat￿n of the financial statements is apprOpr￿te.
Based on the work we have performed, we have not idents.fied any material uncertaints.es relating to events or
conditions that, individually or collectively. may cast signth¢ant doubl on the charity's ability lo continue as a going
¢on¢ern for a period of at leasl ￿e1ve months from when the financial statements are aulhorised for issue.
Our responsibilities and the responsibilrties of the trustees with resFect to going concern are described in the relevant
sèctions of this report.
Other Infomiatlon
The Iruslees are responsible for the other information The other information comprtses the infomation included in the
annual report, other than the finanual slalements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other informakn and except lo the extent olhenwise
explicitly stated in our report. we do not express any form of assurance ￿nclUs￿)n thereon.
In connection with our audit of the financial statements. our responsibilsty is to read the other information and. in doing
so, consider whether the other information is materialty inconsistent with the financial ststements or Ouf knowledge
obtsined in the audit or otherwise appears to be materially misslated. If we Hjenlify such material inconsistencies or
apparent material misstatements, we are required to detemine whether this gives rise lo a material misstatement in
the financial statements themselves. If, based on the work we have performed, we conclude that there is 8 material
misstalemenl of this other information. we are required to rep)rt that fact. We have nothing to report in this regard.
Matters on whlch wo are reqvlred lo rnport ty exceptlon
We have nothin9 to report in respect of the following matters Whe￿ the Charities IA¢¢ounts and Reports) Regulations
2008 require us lo report lo you rf, in our 0￿.n￿)n'.
the information given In the Trustees Report is inconsistent in ary material respect with the financial slatemenls.. or
sufficient accounling records have not teen kept, or
the financial statements are not in agreement wrth the accounting records., or
we have not received all the information and explanations we require ft)r our audit.
Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
RUGBY FREE CHURCH HOMES FOR THE AGED (CONTINUED)
R¢spon$lbllilles of trustees
As explained more fully in the Statement of Trustees Responsibilities. the trustees are responsible for the preparation
of the financial statements and for being satisfied that they gNe a twe and fair view, and for such intemal control as the
Iruslees determine is necessary lo enable the preparation of financial Statements that are free from material
misslalemenl, whether due to fraud or error.
In preparing the financial stslements. the trustees are responsible for assessing the chanty's ability to continue as a
going concern, disclosing, as appli¢able, matters related lo going concern and using the going ¢oncern basis of
accounting unless the trustees erthei intend lo IKiuidale the charity or to cease operats'ons, or have no realistsc
alternative but lo do so.
Our responslbllltles for the audll of the Ilnanclal Ststements
We have been appointed as auditor under secti)n 144 of the Chafilw Act 2011 and report in accordance with the Act
and relevant regulat￿nS made or having effect thereunder.
Our objectsves are to obtain Teasonable assurance about whether the financial statements as a whole are free from
material misstatement. whether due lo fraud or error. and lo issue a Report of the Independent Auditors that includes
our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in
accordan￿ with ISAS IUKI will always detect a material misslatenknt when il exists. Misstatements can arise from
fraud or errol and are considered matenal if, individually or in the aggregate, they could reasonably be expected to
influence the economic decision$ of users taken on the basis of these financial statements.
Irregularrties, including fraud, are instances of non4omplrance with La￿ and regulations. We design procedures in line
with our responsibilities, outlined above. lo delect material misstatements in respect of •r￿gUlarIties. inclvding fraud.
The exlenl lo which our procedures are capable of detecting irregularities. Including fraud is detailed below..
We obtained an understanding of the legal and regulatory frameworks within which the charity operates, fo¢using on
those laws and iegulalions that have a direct effect on the amounts and disck)sures in the financial statements such as
the Charities Act 2011 and the Charities SORP IFRS102)
In addition, we considered provisions of other laws and regUL￿t￿nS that do not have a direct effect on the financial
slalements but compliance with which might be fUnda￿ntaI to the charity's abilrty lo operate or lo avo￿ a material
penalty. Auditing standards limit the required audit procedures to identify non•compliance with these laws and
regulations to enquiry of management and inspecb'on of regu￿tory and legal Coffespondence, if any.
We also considered the opportunities and incentives that may exKsl within the charity for fraud.
Our audit procedures lo respond to the various risks included enquiries of management about their own Klentificalion
and assessments of risks. including reviewing the chartys own risk register. reviewing xcounting estimates for biases.
and reading minutes of meetings of those charged wrth goveman¢e.
Owing lo the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material
misstalemenls in the financial slalements or non-compliance wrth regulation, even though we have properly planne(I
and performed our audit in accordance with auditing slandards This risk increases the more that compliance with a
law or regulation is removed from the events and IransactK)ns refle¢ted 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, omission or MIS￿preSentation.
A further description of our ￿sponSibl1￿1eS for the audit of the financkql statements is located on the Financial Reporting
Council's website al NwM.frc.org.uklauditorsrespon$ibilities. This description fomis part of our Report of the
Independent Auditors.
Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
RUGBY FREE CHURCH HOMES FOR THE AGED (CONTINUED)
Use of our report
This report is made solely to the ¢harity's trustees. as a body, in accordance wrth Part 4 of the Charities IA¢counls and
Reports) Regulations 2008. Our audit work has been undertaken so that we might stste to the charity's trustees those
matters we are required lo state lo them in an auditors. report and for no other Purpose. To the fullest extent permitted
by law. we do r￿1 accept or assume responsibility to anyone other than the charity and the charity's trustees as a tK)dy.
for our audit work. for this ￿POrt, or for the opinM)ns we have formed.
Atkinson Finch & Co, Statutory Audrtor
Chartered Accountants
Central Chambers
4547 Albert Street
Rugby
Warwickshire
CV212SG
Atkinson Finch and Co is eligible to act as an audrtor in lemis of Sectton 1212 of the Companies Act 2006.
Page 9

RUGBY FREE CHURCH HOMES FOR THE AGED
STATEMENT OF FINANCIAL ACTwinES
FOR THE YEAR ENDED 31ST MARCH 2024
General
Fund
Care
Fund
Capital
2024
2023
Notes
INCOMING RESOURCES
Voluntary Income
Donations
Legacies
ActSvltle6 for generating funds
Garden paty and coffee momings
Investment income
Incomlng resources from Charilablo
Activitles
Residents fees
Other Sncom•
TOTAL INCOMING RESOURCES
3,907
10.531
1.500
14.438
1,SOO
23,439
1.000
6.393
12.403
18,796
16,008
1,642,322
1,642,322
1,510.769
1,652,622
24.434
1.677,056
1,551.216
RESOURCES EXPENDED
Costs of g•n•ratlng fund•
Investment management charges
Charltable •¢tlvltlo8
Salaries and wages (Carel
605
1.174
1,779
2,437
4 1,239.486
92.531
39.564
177.801
6.359
13.436
34,291
11,675
237
3,888
144.889
7,863
4.332
1,239,486
92.531
39,564
177,801
6,3S9
13.436
34,291
11.675
237
3,888
144,889
7.863
4.332
1,201,962
98.501
44,310
65,007
5,817
10,784
50.471
10,391
128
2,961
95,762
7,113
4,140
Household expenses
Light and heat
Rates and water
Residents amenities
Salaries and wages IAdminl
Insurances
Bank charges
Telephone, printing, postsge and advertising
Repairs and renewals
Professional fees
Audit costs and publications
Covid Grant Spending
General expenses
Staff training
Depreciation
23,080
6.424
61.549
1.867,405
23,080
6.424
61,$49
1.867.405
16,632
6,390
54,874
1,675,243
TOTAL RESOURCES EXPENDED
1.868.010
1,174
1869 184
1,677,680
NET (OUTGOINGVINCOMING RESOURCES
BEFORE TFIANSFERS
Transfers between funds
NET IOUTGOINGYINCOMING RESOURCES
FOR THE YEAR
(215,388
8,256
23,260
16,2481
1192,128
1126,4641
{2,0081
207.132
17.012
2.008
192,128
126,464
The notes form part ofthese financ￿1 staterrtnts
Page 10

RUGBY FREE CHURCH HOMES FOR THE AGED
STA TEMENT OF FINANCIAL ACTIVITIES leontinued)
FOR THE YEAR ENDED 31ST MARCH 2024
General
Fund
Care
Fund
Capital
r6serv•
2024
2023
Notes
NET {OUTGOING)nNCOMING RESOURCES
FOR THE YEAR {brought forward)
(207.132)
17,012
12,0081
(192,1281
(126,4641
OTHER RECOGNISED GAINS AND LOSSES
{Lossesllgains on investment assets
Realised
Unrealised
NET MOVEMENT IN FUNDS
BALANCE BROUGHT FORWARD
BALANCE CARRIED FORWARD
12.322)
17.233
{192.2211
267,474
75,253
14.504)
33,433
45,941
518,598
.539
16,8261
50.666
(148,288}
2,283.707
2.135,419
54,079
{180.543)
2,464,250
2,283,707
(2,008)
1,497,635
1,495,627
All of the above results are derived from Continuing activities and all losses re¢ognised in the year are included above.
notes fomi part of these financial Stateff￿nts
Page 11

RUG8Y FREE CHURCH HOMES FOR THE AGED
BALANCE SHEET
31ST MARCH 2024
Notes
2024
2023
FIXED ASSETS
Tangible assets
Investments
1A95.627
624,044
2.119,671
1,497,635
630.037
2,127,672
CURRENT ASSETS
Debtors
Cash at bank and in hand
63,643
50.569
114,212
36,027
203,295
239.322
10
CREDITORS
Amounts falling due within one year
11
98,464
83,287
NET CURRENT ASSETSI{LIABILITIES>
15.748
158,035
TOTAL NET ASSETS
2 135419
2,283,707
CAPITAL FUNDS
Capital reserve
12
1,49S,627
1,497,635
INCOME FUNDS
Designated funds
General charitable fvnd
564,S39
75,253
518,598
267.474
786,072
TOTAL FUNDS
2,135,419
2,283,707
APPROVED BY THE TRUSTEES
AND SIGNED ON THEIR BEHALF BY:
S R Bird - Trustee
Revd R J Maloney - Trustee
Date..
The notes fomi part of these financial statements
Page 12

RUGBY FREE CHURCH HOMES FOR THE AGED
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2024
2024
2023
CASH FLOWS FROM OPERA TING ACTIVITIES
Net cash provided by {used in) operdting a¢tivhles
168,640
88,887
Ca$h flows from Investing activities:
Dividends and interest from investments
Pufchase ol propety, plant and eqUipr￿nt
Proceeds from sale of investments
Purchase of investments
Net Ca8h provldod by (u8•d In) invesllng a¢tlvlllo8
18,796
{59,$411
56.659
16.008
{7,2231
8,785
Cash flows from flnanclng •¢tlvltlu'.
Repayments of borrowing
Cash inflows from new borrowings
Receipt of endowment
Net cash provld•d by (u•ed Inl flnanclng actlvlti
Change in cash and cash equivalents in the reporting penod
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equlval¢nts at the end of the reportlng perlod
(152.7261
203,29S
{80,1021
283,397
203 295
RECONCILIATION OF NET INCOME TO NET CASH FLOW
FROM OPERATING ACTIVITIES
2024
2023
Not mov8m&nt In funds for the r•portlng p•rl¢)d l•$ per the stat•m•nt of
flnanclal actlvltlesl
(148.288)
(180,5431
Adjustmgnts for:
Depreciation
Lossesl{gains} on investments
Dividends and interest from Inveslments
Ilncreaselldecrease in debtors
Ioecreasellincrease in creditors
Nel cash provlded by 0￿ratIng 4clfvltlo8
61.549
150.666}
(18,7961
127.616
15,177
168,640
54.874
54,079
116,008)
{9371
352
88.887
ANALYSIS OF CASH AND CASH EQUIVALENTS
2024
2023
Cash al bank and in hand
Cash held In investments
Total cash •nd cash equlvalenls
202,811
25
50,569
203,295
Page 13

RUGBY FREE CHURCH HOMES FOR THE AGED
NOTES TO THE FINANCIAL STA TEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
ACCOUNTING POLICIES
Accounting Convention
The accounts have been prepared under the historical cost convention as modffied by the revaluation of
freehold property and listed investn￿nIS to market value, and have been prepared in accordance with the
Charities SORP ' Accounting and Reporting by Charities". Statement of Recommended Practice applicable
lo charities preparing their accounts in accordance wrth the Financial Reporting Standard applicable
in the UK and Republi¢ of Ireland IFRS 1021 (effethve 1 January 20151,, Financial Reporting Standard 102 The
Financial Reporting Standard applicable in the UK and Republrc of Ireland. and the Charities Act 2011.
The charity conslilutes a public benefit entity as defined by FRS 102.
Slgnlflcant judgements and accounting eslimates
The Trustees consider that there are no mater￿1 uncertainties about the Charity's ability to continue as a going
concern. There are no significant judgements that have a material effe¢t on the a¢counts nor any accounting
estimates Ihal have a hoh risk of causing a material adjustment in a fijture period.
In¢omo
InCOff￿ has been taken lo th& credrt of the statement of financial acb'vibe$ on the following basis..
tk)nalions and legacies
Residents fees
Investment incom8
Spec￿le appeals
accruals basis
accruals basis
a¢¢rual$ basis
accruals {matched with related expenditu￿)
Residents fees relating lo a future period are canied forward.
Investment income and the gainslllosses) on investrnents are allocated to the General and Care Funds in the
Tatio of tho fund values at the start of the year. This ratio was 267.'519 (2023 - 369.5501.
Income from giants is recognised when the charity has enty'tlement lo the funds. The income is mal¢hed to Ihe
a$so¢iated expenditure and any element of the grant that relates to fvture costs is deferred and carried
forward in an appropnate restricted fvnd.
Expgndlturo
Expendiluie has been charged to the staleff*nt of financk?l activrties in the peri¢)d in which it is incurred.
Tanglble flxgd as$gts
Depreciation is provided at Ihe following annual rates in order to write off each asset over rls estimated
useful life.
Freehold property
1% stramjhl line on main property
4% straight line on new building
10% straight line on pathways
10% straight line
4% straight line on new building fixtU￿S and ffittings
3 years straighl line on office equipment
Fixtures and fittings
A transfer is made from the Caprtal Reserve to the General Fund lo cover the depreciath?n charge for the year
(see note 121. 11 is the policy of the Trustees not to capitalise replacerr*nt items unless they swnfficanlly
increase the value of the propety.
Investments
Listed Investments are staled at market value on the balance sheet date.
Realised and unrealised gains and losses are included in the Statement of Financial Activities.
Page 14

RUGB Y FREE CHURCH HOMES FOR THE AGED
NOTES TO THE FINANCIAL STATEMENTS leontinuedl
FOR THE YEAR ENDED 31ST MARCH 2024
ACCOUNTING POLICIES (tontlnued
Pension costs and other post retlrement beneffts
The charity operates defined contribution pension schemes. The assets of the schemes are held separately
from those of the chanty in independently administered funds. Contribubons payable for the year are charged
in the Statement of Financ￿1 Activities.
Designated Funds
The commitments and intended use of the separate funds are as disclosed in the Report of the Trustees.
A transfer is made from the Care Fund to the General Fund lo cover financial support for residents who do not
qualify for full support from public funds.
DONATIONS AND LEGACIES RECEIVED
2024
2023
Donatlons
Donations from the Churches..
Baptist
United Reformed Church
Society of Friends
Paddox Methodist
Davenlry friendship
Broadwell Methodist
Other donations..
Miscellaneous
For garden shrubs - Paddox Methodist
URC - For garden shiubs
URC Brinklow - Rev Maloney relirem8nt
Rugby
Rugby
1,070
1.050
500
400
20
132
180
165
376
321
257
100
Collections..
Friends of Billon House
Billon Pcor
1,070
200
2.215
200
In Memoriam..
JG Towriss
Erika Wren
Rachel Wells
Alan Coullhurst
A Franklin
joy￿ Smith
Will Spense
Paul Gilbert
150
376
440
1,570
2,719
5,000
6,000
Gifts for Care Fund
Regular Donations
Miscellaneous Donations
Gift Aid {Care Fund Don*t￿n$}
200
500
1.587
14.438
7,000
185
2,585
23,439
Page 15

RUGBY FREE CHURCH HOMES FOR THE AGED
NOTES TO THE FINANCIAL STA TEMENTS {continued)
FOR THE YEAR ENDED 31ST MARCH 2024
DONATIONS AND LEGACIES RECEIVED (contlnued)
2024
2023
L•ga¢les
Jesse Hilchens
Joan Naomi Ridgeway
Tony Taylor
500
1.000
1,000
1,000
1,500
FEES PA YABLE TO AUDITORS
2024
2023
Relating to audit seryices
Relating lo non-audil services
4,332
4.140
4,140
STAFF NUMBERS AND COSTS
2024
2023
The average numb•r of porsons •mploy•d by th• ¢h•rlty durfng th• yo•r wa•:
Gare and support workers
Administrative staff
49
46
51
Efflploym•nt ¢08ts of •ll •mployv• Incltsd•d above comprls•d:
Gross wage$ and salaries
Employers national insurance
Employers pensK>n scheme contributions {see b8knw)
Agency costs
1,109,026
79.215
22,934
65,440
1,276.615
1,046,928
75.001
20,908
111,446
1,254.283
No Stsff recetved a salary in excess of £60,000. The charity runs a ¢Jefined contribut*)n pension scheme for
employees. There were outstsnding contribub'ons of £2,581 (2023 - £2.3851 at the year end.
No remuneration OT 8xpenses were payabie to Truslees during the year. The total remunerats'on paid to key
management personnel was £92,231 12023 - £97.965).
INVESTMENT INCOME
2024
2023
Bank Interest receivable
Dividends receivable- UK
Dividends receivable - Overseas
Fixed interest and unit trust income- UK
747
187
15,817
16,008
OTHER INCOME
2024
2023
Covid Infection Control Grant
Covid Sick Pay Grant
Workforce Recruitment and Retention Fund
Page 16

RUGBY FREE CHURCH HOMES FOR THE AGED
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31ST MARCH 2024
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Genernl
Fund
Care
Fund
Capital
reser¥e
2023
INCOMING RESOURCES
Voluntary Income
Donations
Legacies
Actlvltl•s for goTreratlng funds
Garden paty and coffee momings
Investment Income
Incomlng resource8 from Charltable Actlvltles
Residents fee$
other Income
TOTAL INCOMING RESOURCES
5.195
18,244
1,000
23,439
1.000
6,428
9,580
16,008
1,510,769
1.510,769
1.522,392
1,551.216
RESOURCES EXPENDED
Co•t8 of generatlng funds
Investment managemenl charges
Charftsblo actlvltla6
Salaries and wages (Care)
Food
Household expenses
Light and heal
Rates and wal&r
Residents amenities
Salaries and wages (Admin)
Insurances
Bank charges
Telephone. printing, postage and advertising
Rèpairs and renewals
Professional fees
Audit costs and publications
Covid Grant Spending
Gene181 expenses
Staff training
Depreciation
979
1,458
2,437
1,201,962
98,501
44.310
65,007
5.817
10,784
50,471
10,391
128
2,961
95.762
7,113
4.140
1.201,962
98,501
44,310
65,007
5,817
10.784
50,471
10,391
128
2,961
95,762
7,113
4,140
16,632
6.390
54,874
1.675.243
16,632
6,390
54,874
1.675,243
TOTAL RESOURCES EXPENDED
1,676,222
1.458
1,677.680
NET IOUTGOINGYINCOMING RESOURCES
BEFORE TRANSFERS
Transfers between funds
NET IOUTGOINGVINCOMING RESOURCES
FOR THE YEAR
(153.830)
74.391
27.366
126.740)
1126,464)
(47.6511
{79,439)
626
{47,651}
1126.464)
OTHER RECOGNISED GAINS AND LOSSES
Realised (lossesygains on investment assets
Unrealised Ilossesllgains on investment assets
(21.714)
132,3651
154,0791
NET MOVEMENT IN FUNDS
(101.1531
(31.7391
147.651)
1180.543)
BALANCE BROUGHT FORWARD
368.627
550,337
1.545,286
2,464,250
BALANCE CARRIED FORWARD
267.474
518.598
1,497,635
2.283.707
Page 17

RUGBY FREE CHURCH HOMES FOR THE AGED
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31ST MARCH 2024
7 TANGIBLE FIXED ASSETS
Freehold Fixtures and
property
fittings
Total
COST
At 1 sl April 2023
Additions
At 31st March 2024
2,282,527
439,358
59,541
498.899
2,721,885
59.541
2 781.426
2,282.527
DEPRECIATION
At 1st April 2023
Charge for the year
At 31$1 March 2024
875,461
43.020
918,481
348,789
18,529
367,318
1,224,250
61.549
1285,799
NET BOOK VALUE
Al 31 st March 2024
131581
1495.627
Al 31st March 2023
1,407,C66
90,569
1,497,635
Cost or valuatlon at 31st March 2024 18 ropre•eTrt•d by:
At valuation on 31st December 1990
At cost
750,000
1,532,527
2.282.527
175,000
323.899
498.899
925,000
1,856.426
2 781,426
The cost of the orwinal propety is not known.
The propety has not been re-valued since 1990, however, the Trustees are confident that the current value 1$
in excess of the net t4)ok value.
8 INVESTMENTS
2024
2023
M8rk•t v•lu•
Opening market valua
Additions
Disposals al opening market value
630,037
684,116
56.659
673,378
50,666
624.044
684,116
154,0791
630,037
Unrealised Ilossllgain on inveStn￿nIS
At 318t M•r¢h 2024
The historical cosl of the investment portfolio (excludin9 cashl at the year end was £654.507 (2023- £714.3951
All the investments are hekl primanty to provide an inveStr￿n¢ retum for the charity.
2024
2023
Investments al market value ¢omprised:
Equities shares - UK
Investment trusts and unrt trusts- UK
108
623.936
624.044
100
629,937
630,037
Page 18

RUGBY FREE CHURCH HOMES FOR THE AGED
NOTES TO THE FINANCIAL STATEMENTS {continuedl
FOR THE YEAR ENDED 31ST MARCH 2024
9 DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Rents due
Income lax recoverable
Other debtors
Prepayments
51,355
1,508
21,713
2,585
10,780
63.643
11,729
36,027
10 CASH AT BANK
2024
2023
Lloyds Bank PIC - cUr￿n1 accounts
Held by investment managers
Cash in hand
60,104
25
202,504
484
307
203,295
50,569
11 CREDITORS: AMOUNTS FALLING DUE WIThIN ONE YEAR
2024
2023
Trade creditors
Social security and othèr taxes
Other ¢redilors
Deferred income
Accrued expenses
12.882
22,433
29,615
13,433
20,101
98,464
8,802
22,109
21,910
13.433
17,033
83,287
12 CAPITAL RESERVE
2024
2023
8alance at 1st Apiil 2023
Transfer {lollfrom General Fund
Balance al 31st March 2024
1.497,635
2.008
1.495,627
1.545.286
47.651
1,497,635
The capital reserve represents the net book value ol the building and o)nlents.
Page 19

RUGBY FREE CHURCH HOMES FOR THE AGED
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31ST MARCH 2024
13 ANALYSIS OF NET ASSETS BETWEEN FUNDS
Gèneral
fund
Care
fund
Capftal
reserve
Total
nds
Tangible fixed assets
Investrnen15
Current assets
Current liabilrties
At 31st March 2024
1.495,627
1,495,627
624,044
114,212
98,464
2 135.419
73,401
100,316
98.464
75.253
650.643
13,896
564.539
1.495,627
Tangible fixed assets
Investments
Current assets
Current liabilities
At 31st March 2023
1,497,635
1,497.635
630,037
239.322
83,287
2,283.707
214.381
136.380
83,287
267.474
415,656
102.942
518,598
1.497,635
The tot81 unrealised loss included in the above is £30,463 {2023- £84.3581. Investment gains or losses
are divided be￿en the Care Fund and the General Fund in the ratio of the values of the funds at the
start of the year.
A transfer of £6,248 {2023 - £26,740) was made from the Care Fund to the General Fund to cover the
difference betr￿n fees charged and lees paKI during the year.
14 CAPITAL COMMITMENTS
The Chanty has no capital commrtments12023 - None).
15 RELATED PAR￿ TRANSACTIONS
There have been no12023 - None) related paty transactions during the year.
Page 20

RUGBY FREE CHURCH HOMES FOR THE AGED
FINANCIAL SUPPORT
Birton House is managed by an exclusNety Rugty Charty. Generous support for the work through voluntary
subscriptions helps us lo engage the necessary upkeep of a kqrge propety to meet the changing requirements
of an ageing population.
All who read this report are invited to consider using one or wK)re of the following mett)c4ls to help the work.
y Donation
Donations will be gralefvlly acknowledged by our Treasurer. AckrK)wledgement will also be made in the Annual
Report. Gifts by taxpayers qualify for the 'Gift Aid. scher￿, which will enable our Treasurer to recover the income
tsx paid and we ask those who make grfts. say, in memory of a loved one lo consider this possibility.
By Legacy
You can make a bequest in your Wll, and your Sdicitor will be abk to advise you further. Many people see this
as a suitable memorial to provide for the comlort and care of others.
Memorial gifts will be recorded in our'memrial Book,.
Our Treasurer will be glad lo advise you on the financial aspects.
Page 21