RUGBY FREE CHiIRCH HOMES FOR THE AGED REPORT OF THE TRUSTEE8 AND AUDITED FINANCIAL STATEMEpirJ FOR THE YEAR ENDED 31ST PAARCH 2025 Atkin8on Finch & Co Central Chambers 4547 Albert Street Rugby Wamckshn cir212SG
, RUGBY FREE CHURCH HOIE8 FOR THE AGED CONTENTS OF THE FINANCIAL STATEMEP FOR THE YEAR ENDED 31ST MARCH 2025 Pag• Charlty Inlorniatlon 0ffl¢or• and Commlttm M•mb•rn R•port of th• Tru•tM• Report of th• Ind•p•nd•nt Audltorn Stat•Thnt ol Fln•nel•l ActJvltl•• 10 Balanc• Sh••t 12 Ca•h Flow Stst•m•nt 13 Not•• to th• Fln•n¢lal St•twn•nt• 14 Fln•nGlal Support 21
' RUGBY FREE CHURCH HOMES FOR THE AIXD CHARrrY INFORPAATION FOR THE YEAR ENDED 318T IIARCH 2025 The Charity is governed by a Trust Deed dOl10th Ocober 1946 and Is Constitu as an unincorFKrated a5sociaknon. The Free Ghurch85 named in tho Deed are exh entthd to eleca thro8 People to serve on the Management Committee. The Churches are:. The Baptist Church. The ktsthodisl Church, The S8allon Amry. The Scciety of FrierKls and the Congregatthal Church (now incorporated ¥thin the United Refonned Church). REGISTERED OFFICE Bilton House 5 Bawnrnore Road Rugty Warwi¢k3hir 27QH REGISTERED CHARffY NUPIBER 214479 AUDrroR8 Atkn80n Finth & Co Chartefed knountants Central Chambgrn 4547 Albert Str*t Rugby VlaM¢kshire CV212SG BANKERS Uoyds Bank PIC 14 Chufch Street Rugty Vlarwick8hire CW213PL FINANCIAL ADVISERS Rathbone lnvo5tsTt Managernnt Unltad 159 New Bond Streel W1S 2UD Page 1
. RUGBY FREE CHURCH HOMES FOR THE AGED OFFICERS AND COMMITfEE MEMBERS FOR THE YEAR ENDED 31ST RCH 2025 PRESIDENT {p)Sin currenty vacant) VICE PRESIDENT CHAIRMAN SECRETARY MrD TREASURER MrSRBird MANAGER Mi%8 S J Ashby CUSTODIAN TRUSTEE MANAGING TrUSTEES Revd R J Malorny MrSR&'rd Mr0$ Mr3 H Cox Mrn R Pugh Mr D Knight Mrn 8 Grrfths Mrs E Lamb•rt Mr¥ J Le*l8 rewned 16 0ber 2024 FRIENDS OF BILTON HOUSE Mr P Smilh Mr5 C Sjdkny Mrs E Mann MrSR8ffd Mr8 J Glan¥iM8 Chairre0rt wjned 30 Pknmbw 2024 Jned 30 N(wembor 2024 Mr J Reeve Mr3 C WS11iaff Mr8 C Hry•Mrd Mrs B Rose Mi66 S J A8hby resKJMd 30 Novembgr 2024 SENIOR MANAGEMEKr Mbs S J Ashby Mr5 S Vn8es Mrs T Bulier Mrs D con80n A86i8tant ffonager Assistsnt rronager Seconded to Assistant mAnager
, RUGBY FREE CHURCH HOIAE8 FOR THE AGED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 The Trnstees present their report with the Ilnan¢ial ststements ofthe charity {regtered number 214479) for the year ended 31st March 2025. The Trustees have adopted the Fyovisions of P4xounlng and Reportlng by Charthes: Statemgnt of Recommend PraCe appficable to cjwities preFWiry ther aurrtS in accordance the Financol Reporting Stsndard apfvbk in the UK and Reb of IrelarKI (FRS 1(r2) effective 1 January 2019). OWECTIV&8 AND PUBLIC BENEFIT The charity Rugby Free Church Hom8s for Ihe Aged. Oth0Th kntrwn as Bllton House was estsblished in 1946. by trust deed. Th15 trust deed estsblished the objects of the chlty as lo make provision for the weTrare, comfort, treatment and relief in sickness old wJ8 of agejj and po per8Ms Lon91j to, or ¢%nnect8d with, or reComnded by, any of thè Free Churches of Rugby or its surroundlry distrtct namely the Baptist Church, The Congregational Church, The Methodist Church. The Salvation Amyl arKI The SOC of Friends. and in parlar and for those purposes to provide and maintain hOnS for such aged arml for poor person8 at the 8ilton House prnmlse8 and any other whtch may from tlrn to b• acqiirnd by or on beh8Jf of tha eharty. The Trustees alm for 8ton Hwse lo provkle a tx#vJ arwj c¢)mtstsble hm, thln a Christlan ethos, ffttting each residenls social, phYSal arKI spirrtual needs, offerlng the high88t 8landar(Is of care. whoro each resident ha8 Ihe choico to Iwe as independenty as helshe is ablè, supp)rted ty tho kvel of care each one need8. A hlgh level 018taff enabl6s this aim. Staffing rallos exceed any rnmparable ho V•ithln the ar•a. The Home and it8 furnlshings arKI fittings.18 well maintained through(x ReshJentSal are 581 lo rrRet th• need8 of Home wilhrt wofft. Re81dents with Fn8uIfiGlent funds or income to m8at the fee8 benefft from the Support of the care fund. They are 8UPPOrted at a basic knl by WaThvkkshire Soci81 Services and the CA fvnd pays the drenc4 up to thfj fijll fe8. For year •nded 318t Ilarch 2025 £2,268 {2024- £6,248) was alkxatsd from the care fvnd for trA8 purpose. Charitable fvnds ralsed by the frlends provtdo free KI oCtfvItI88 for our m8K4ents arKI also contribu towards other costs such as chiropJdy. The charity ts govemed by a Management Commlttae made up of methrs elected ty these churches, together with 8 number ofc(Fopted members, and this cor11t18e lorrro b(Mty of Managing Trustees. Tha Official Custodlan for Chariti cArries oui the fvnclmjn of provw t>J8todlw trusteej. Thare Is a s•parate comittee for the 8eleciM of rosldents. ond a Frnnds of Blton Hou80' committse whose alm is to improve I160n wlth th8 churches to provido pasthl and Socid for the Tesidants and to publcl80 Bilton House. Al ol ofthe Managenwrt for the charity on a voluntary bas The Managem8nt Committoè enwoys 8 Care Manager, Ann[stratIOn Manager, thrg? Assistant Managers, Car• Staff, Catering Staff, Dormstic Staff, a Maintenance Engineer and a Cl8ric81 A88iStant to operats the Hom and car& for the residents. Senior Cwe Staff have been appointsd ty promotlon of exists'ng staff. The Cgre Manager 18 vesponsible to the Manwjement Committee forts oflhe Homv. The officern ot ts comnNtte8, the ChainrAn. the Secrntsry and tt Tm8urer meet rngularfy wbth the Caro Manager and the Adrninistran Manager to rmnitor re8ponsiblktles of thg Care Manager and the operation of the HOTh. to share, discuss and resofve short tenn whth rroy arise and to initiate fong tem) policy for di8cuss)n by the Management Commrttee. STATEMENT OF TRUSTEES REsPONsEs The Managing Trustees a responslble for prepar#vJ sem for Ogch financial year in accordanco with applicable laws and United ngdorn A(tounting Standds (United ngdrn Generaly Apted Accounting Practtcel. Chaty law requires the Managing Trltstses to prepare finarwl statern eath year whith give a true and fair view of the state of affaits of the charity and of the inClIng resources and applicalion offunds of the tharity for that peri(>J. In preparing these finanGial statements. the Managry Trvstees we required to.. Page 3
RUGBY FREE CHURCH HOMES FOR THE AGED REPORT OF THE TRUSTEES {contlnued) FOR THE YEAR ENDED 31ST MARCH 2025 STATEMEKf OF TRUSTEES RESPONSIBILmES...LonL . select suitabk aUnting Oicies and then ap them . observe the meth(th and princip18s n the sppkAble Chalty SORP: . make judgments and estimatss that reas(able and PnKlent . prepare the financial statements on the gc¥ng ¢(n basB unless It Is inaplxowiate to presume that the charrty 11 continue in business. The Managing Trustees are responsibl8 for keesHng Pp8rx)untIng records thich disclose reasonable auracY at any time the financial posits'on of the charity and to enablg tt) ensure that the financial statements compty blith the Ch15 Th are akn re¥nSIe for sateguarding the assets of the charity and han ft)r taking rea80n8ble sL9ps for ts prevention and detth of fraud and cther Kreguiariti88. CHAIRMAN'8 REPOI The Christian Ethos of loave caring one another. n 7rras arKY acTWlS fonT the bedrock of Bilton House's approach to all aspects ol life Yh1n this corrfflunity. A wlde range of voluntary activities are offered to the residents almBd at ernbracing an holistc appn)8ch to ther vnll being. Chrislian Vthhlp, in various lom)s, 18 jed by a wide group of people {both ordained and lay) twico a vRek as described in mre detsll und8r Review ofP£tlvleS. Staff and others are encouragèd to Spend tirrn talknng to resiclents based on a prirK¥le that we work in th8lr home rather than they live in our wotkplace. The Officefs in particuLqr 8h to thank the Free Churchos for thèir supp)rt to the HOTh and for providlng practical, pastoral and spritual care lor many of its residents. also Ilw)k all thc4e support th• Homg 8nd who glve thelr tlm8 and energy so willngty when wg ablè to do so. INe continue to make both physrcal thrall$ and de¢atrIO enhancements to areas of thls Home to onh8nce the Ilvlng nd working envlronmenL The heats'ng and hot watèr 8yStom in81aled the prevlou8 year has proved vary reliabkg in meetlng our needs and in reduced over811 fuel c<Jsts. We have Spent In excess of £30k th18 year In a complete refuTblshnMnt oftr• mln kyJnge ¥¥ttth ha8 r•alty enhanced that communal ar•a to tho ben8fi1 of residènts and vk%itors. Our Care Manager. pom1anent appointed to the role in May 2024. has been very thctlve In amanglng the staff of over 60 employa68 with a signfficanty reduc•d dependency on agency slaff.Not only does thls reduce our 0ra11 labour ¢08t cirt it also allw for the longer twm relatiortship to bthwi stsff rnsldent8 vthich anh8 that holl approa¢h refvrred to earlor. We we fortunate to retsin a te of wde88lonal mwager8, and donE81its t#) prryth 8 rkh, rxJmfortablB and safe environment in whkh our re8Klents kve. The 2011 Chartiies Act requires us to disdw the asn recor$ fmm our professK)nal 8dvi8er5. W8 have again empbjyed Atkinson Flnch & Co as audit(Jrt Th8re Is o IBt of al the dona1mS leg&ks rttefved during the year included in the folltrthng SI0n16 of Count&
RUGBY FREE CHURCH HOME8 FOR THE AGED REPORT OF THE TRUSTEES (contlnued) FOR THE YEAR ENDED 31ST MARCH 2025 REVIEW ACTivrriES Vle tI)u0 io erKourage staff to train for NVQ axl a nunts have gained credilabi8 passes duriry the year. contlnuè to belleve that a key ben8fft to residents arlses from the range ofcharitable supported 8Ctiviti88 and more opportunitres for conversations with vdunteers and visitors. athits85 (Kgani5er on the staff, support&J by voILtnteers off8r5 a wide•ranging FKogramme of stimulating )d enjoyab day to day acti¥eS for residents fonning an important part of the lile of the Ho. A PrOgraTr of these events is h4hlighted on our notice board and staff aro encouraged to remind residents of tho )lUntary ¢)pportuniti65. The Free Chlch of Rugby have an Iortant inffuence on the Ilfe of the Horné and its reOenI8. An afternoon serrfice is led by extemal Clergy and Lay people at the Hor each Sunday. >d a Felluwship meeting hebj each Wednesday rrK)ming. Th08e are led by members of the enthrrf ChUrd and nwch appreGiatod by the re8idonts. Regular communion servtces are also held In the Horm ty the Mlnlsters oftr Churche•. CHARITABLE BENEFIT The Trustees oro confident that esch resident benefits by havkng 811 ton H¢yJse a8 thelr home. We provlde the highest 18vel of cere. We meet eath resKlerfs Sociat. physKzI and Spiri81 n8&ts. Thore is no margin of profit to b8 pakj lor. Charitable fund8 ralsed by th8 friend8 provide fr8& outlngs and actsvitss for our re5id8nts and al80 contrlbute towards other costs such a8 chiroF&y. Subject to some constraints, eac rosklent ha8 tho u)nfid8rK4 that rf their own funds become in8uffklent to meet $[dents.81 fees there SUPPOrt from the care fvnd. FUTURE PLANS Future plans for Bilton HOU ffKu8 on molntsining arKI Thwovb)g otsr hlgh Jtandard8 of care, ensurfng that we always achieve a raty'ng of at lea8t"G¢)od" ty CQC Inspecth and seek to b• recognksed a8 outstsrKllng. The carn rthd8 for 8 slgnificant number of our reBKl•nts Iw8 Inml tn r•cent yearn and we havo r•spond8d by Increasing our staffing ratio at"pe perK)d8'. will oyilA)ue to explore way8 to address in¢rea8ing dep•nd•ancy Issue8 b8s•d on our thos of ¢)ffering pemwnt resld•nts a Hom• for the rest of thelr Iff• where reagonabPy practlc81 to do 80. FUTURE RISKS Govemment Changes to employirrtnt legl8lath)n reBuK•J In a Mrna88 in stsff (x>sts dudng tho yew which nec8s5itated a higher re8Klents rent Increase to offset the V4 are fortunats in that 8lmoBt all of our re$ldents are Bell fvnded (reducing Ihe risk of Local Authority underfunding) heg us to achie our obiectsve loa a balartced budget each year without profiL wll contw)ue to seok to mibga the risk further by oxpeth'ng Soclal Seprfice reBidents lo identtfy trp up Ir8 prvjr to perrronent residency. FINANCIAL YEAR The financkgl year njns ftom 1st hpril to 31st Marth. knkshITe County Council Sockal Sorrfitw mBke8 th• changes at the beglnniig ofAprl io payffents for the residents whom supp>rt knnual pay ri8e8 for staff at Blfton we made ft>r the beginning ofAprl arKI rwts ftjr rnSknts arn also revivwed and changed at this Jm8.
RUGBY FREE CHURCH HOMES FOR THE AGED REPORT OF THE TRUSTEES (contlnued) FOR THE YEAR ENDED 31ST MARCH 2025 THE GENERAL FUND The general fund cover5 day to day actNTbes of runnhig th? Home, and the income is derived from the re$rd8nts' rents and investrnents together with donations and legacies. It is the current policy of the Trustees to set rental income, including Care Fund grants. to cover the bas nJrfflwvJ costs. albhiThJ th8 remainder to be used for development and improvement of the fac1b8 GENERAL BANK BALANCE - RESERVES POLICY In order lo ensure that am bills arml charges are paid pronyty rt is poky to ffAintain tho general bank balance at a ITnimuM 015% of annual axpendiiure an average of )ul 8% representing betw88n 2 % and 4 weeks wages arKI o)sts. THE CARE FUND The Trustee8 policy ha8 bgen to wAintain the value of thé knnd at mwket value (i.e. not to spend the capital of the fund). InGome generated by the fund is used firsly to provide financial support for any rosldent who does not qual for full support of residenti81 lees frm) Wb1 fvnds. and wfio has InsLrtlci8nt rnean8 personally and no famity or other financial backing, secondty to overdl supwt to ail residents in koeping r8nts to a minimurn wh1I8t provKling tho high881 Ie1 of care possible wilhin the tinyts of th• funds available. THE CAPITAL RESERVE Thls represents the net book value of the building and other as80ts. Tr transfer ropresents tho cost of addFtkn8 to fixed assets less the depWati charged. INVESTMENT POLICY The investtrthts, heks for In¥•stment purpose8 to h subsldl8& f•os, are nwnaged by investmont broker8, Rathbone8 in their Core Inve8tm8nt Fund for chwit1. Tho ethical inv•strnent poliry for thts fund i8:.M donl An•t directy in any conwany thal manLrfaciure8 lobaxo or tobacco products, or deriv8s ryK*re than IO% of118 8ab88 from gambling. high-lntsrast raie lendlng, porrKigraphy or from the manufacttjre of alcohol or amHm8nts" For 2024r25 the Incom•, wa8 £16.627 whlch is 2.7% of the capltsl at 31 Mwd) 2024. RISK A38E88MEpir System8 are in place to mitlgate rtsks a8 they are identifiod. Th& work at Billon Hou80 and the qualty of lifs of tho resIdti is deent on the dedicaied work and good hurrvjur of the stsff and is 8nrlched by the 8er¥ice and irrterest of frièrKls, who gpie their tin. their presence and their money 80 genwwsty. My thanks to each and e¥wone of you who has been Invofved with Bilton Houso over the last year. ON BEHALF OF THE TRUSTEES: 5R& S R Bird- Trustee Revd R J makey-
REPORT OF THE INDEPENDEKf AUDm)RS TO THE TRUSTEES OF RUGBY FREE CHURCH HOMES FOR THE AGED Oplnlon We have audited the finarKial statemerrts of Rugby Free Church Horres for the Ag&1 lthe'charity,) for the year ended 31st March 2025 which comwse the Statement of Financial knits, th8 Balance Shee( the Cash FlcAv Statement and notes to the )Inarla1 statemnts. induding a summary of srgnificant aco)untr'ng policies. Th8 financial reporting framework that has been applied in their preparat1 is applThLlo arKI Un6ted lfjnothxn Accounting Standards (Unlted Kngdom Generalky AcG8Pted knountiw Prth). In our opinlon the finawal Btatennts: gNe a true and fair view of the state olts charitrfs affairs as at 31st Marth 2025 arKI of its incoming res(W88 and applicatK)n of resources. for the year then onded", have been prop8rty prepared in accordance with United lfjngdom Genernlty A¢pted Accounting Pracli¢e' a1 have bn prepared in aGrdance with Ihe requir8rMnts of the Chanti•s Act 2011. Ba•kn for oplnlon conducted our aurrrt in accordance wilh InternalK81 Slandards on Audibng (UK) (ISAS {UK)) and apScable law. Our responsibilitie8 under standarfs are ftrther dexribed in the Auditors r85ponsiblibes for the audit of the finandal st8temonts section ofour rnport are Indopendent ofthe ¢hanty kn accordance wth the 8th11 requlrements that are relevant lo our audit ol the ffinanGi81 statements In the UK includ¥ig the FRC'S Ethlcal St8ndard, and wa have luffild our other ethical re8ponsibilib.es in x<xxd8nce these requrerrnts. We belleve that the audit evldence we have obtsined 18 sufficient and appropnats to provide a ba8ls for Jur opknhjn. Conclu•lon• r•latlng to golng conc•m In audltlng the financial ststemnts, we hav• C0)nd that the trustO8S' U8e ofts going corKorn ba818 of accountlng In the preparatlon of the ffiandal 8latsm8nts Is apwDpriats. Ba8ed on the work we have porforrmd, we hav6 not bjonbfied wy materhl uncertsintie8 reth'ng to events or condlb'ons tha( individualty or (x)Mectively, riw Signrfant doubt tx the chanty'8 ability to continu8 as a g0Sng concarn ftjr a pwkJ of at least iwehe rronth8 from whèn the an1 Slatts orn authodsed lor i5SU•. Our respon81billties and the r86pon8ibilitle8 of th• trtS with rpect to going (rKern 8r• d08crfb8d In the rel8vant •ectlon8 of thls r•FYJrt. Oth•r Inlormatlon The trustees are responsible for the other Informalion. The other Infomwllon comprlse8 the InformatA)n Included In the annu reF<)rL other than the financial statements our Rewrt ofthe Independent Auditorn thereon. Our opinicffl on the financial Stater1 does not cover tho ¢)ther nfDrrnatM)n and except to the extent 0th8Mtys8 explkttly stated in our repo¢ we do not exsKess any fonn of assurance condusion th8raon. In conn8ction with our audit of the financial staternts. our responsibity is to read the other Infomwtlon and. In dolnp so, conslder whether the other inf0MlI0n is rnate inajnsislent with the financial Statements or our knowledge abtaineil in the audit or otheThvlse appear8 to be misstated. If we identify sh material Inconslstsncies or appargnt mat8d81 mi88tatemenis, we we required to determina whether this gNes risè to a materi81 misstatement in the financial statements Ihemselves. If. based on the Y•rKk have performed. conclude that thwe is a matarlal mlsststem8nt of this ¢)ther information. are required to rwt that fact We have rM)thng to report in this regard. Mattern on whlch w• arn rnqulred to report ty exc• We have nothing to repjrt in respect of the knlkYwirKJ mattern where the Charitie8 (Acwjnts arKI RepDrts) Regulgtions 2008 require us to report to you rf, in our opinion.. the irfformation given in the Trustees Report is inconsistit in any matwial resPt wilh the finandal stst8ments,' or sufftient accounting records have not been kept or the financial statements aye not in reernent with the accounting records,. or we have not receF¥ed 811 the infomwtion and exp w8 uIre for aur &IlL
REPORT OF ThE INDEPENDEKf AUDrroRS TO THE TRUSTEES OF RUGBY FREE CHURCH HOMES FOR THE AGED (COIMNUED) As expLained more lulty in the Statement of Ttusi88s Re$sIbilIties, the trLLglees ate re5wnslble for the preparation of the financial statements and for being satisfied that they give a true and fair vlew, and for such intsmal Control as the trustee5 determine is necessary to enable the preparation of finala1 statements that free from material S8tatemert whether due to fraud or m. In preparfng the finclaI stat)ents. the trustees we responsth for a5%ssing the chanvs ablllty to contnue as a golng concem, disdosing. as aFplI1e. matters related to goiThJ corKxm and usng the golng concom basis of accounting unless the tru8iee¥ elth8r intend to liquwJ8te the rtwity or to cea80 owdons, or have no reaistic altemaive but to do so. Our ro•pon•lbllftlu for th• audlt of th• fln•nclal 8t•t•m•nts have been appointed as auditor under tron 144 of the Charit1•8 Act 2011 report in a(Ordan wlth the Act and rebvant regulations made or hawrvj effoct thereunder. Our obpcbves are to obtsln reasonablo assur¢6 ab¢xrt the lInl81 statements 88 a whole are free from material misstatemenl, wthether due to fraud or efror, and to iS8uo a Report olthe Independent Auditors that inciudes our opinlon. Reasonable assurance 18 8 hKJh level of assur?e, tmjt is not a guarantee that an audit conductsd In accordance with ISAS (UK) w1 afrway8 detect a matarial nY8slaknent vthon it exists. Misstatements can arl8e ftom fraud or error and are consldered matorial If. Ind[dua or Fn the aggregate, they ccwld reasonably be oxpected to InfluerKa the eCOrmi¢ ¢jec1snI of u88rn taken on the ofth8s• finyKig18tat•nw)ts. Irregulwlkn& IncIlIng fraud, arn Sn8tsnce8 cl rfth18wB wuiatths. Vd8 design kyocedures In Ilne with our re8pon5ibilitKW, OLrtlined above, to detect rnaterfal nisBtstements In respect of irregularities, indudlng fr8ud. The extent to whkh our procedures are capable of detscting Irregular18$. includin9 fraud is detailed telow.. We obtsined undèrstanding of the legd and reguknty frankS wrthin which the charity operates. focusing on those Iwws and regulations that have a direct ollxt on tho anx)unts di6ck>wres tho financial ¥tat•m•nts Such as the Char6ti6s Act 2011 and the Chanties SORP {FRS102). In addltion. we consldered provisk)n8 of other laws and Togulallm that do not have a dlrect effect on tho financlal Statements bul complianc6 with which might bo fundanntsl to kn dwrTty'S abilty to <Jperatè or to avoid a mglerial penalty. Auditino Standards IlrnR the rpqulred audit wocedures to wjonllfy non-¢ompliarKe with these laws and rngulations to enquiry of manag•ment and Inspecim of regubw lagal 0)rres¢8. if any. We also ¢onsklered th• opportunltses and trK•ntrs that may emt within the charity for fraud. Our audll prOcUreS to respond to th• varlous risks inckmknl eNulii&s of ff0na9et about thelr iywn Identtfication and assessments of risks, including rvrfie*ing the charW8 (ym) rkk reg15tw. rvrfithing x(xwntlng estlmates bia8eB, and r•8dlng mknutes of me•tings oflPw • with LThwnan¢•. Chving to the InTrt limitson$ of an audiL there is an Unavoidab ri8k that we may noi have detected some materfal misstatements in the financial statemerts or non<ompliance wilh rogul8b'on. even though we have propety planned and perfomwd our audit in accordan with auditi'ng standanls. This risk increases the more that complianrx a law or rogulation is removed frorn tho events and transactions refiecied in the fina181 statements, as we will be fess likety to b8come aware ot instances of non-compliance. The risk a150 greater regarding irregularities (Kcurrfng due to fraud rather than error, as fraud involves Inten1kal c¢)rKealffw( tsgery. OluSion, omi88ion or 1$reFeSentaf1On. A fijrther descript of our responsibilities for the awjfé of the fmanci318tatsrw)ts ts hxated on the Financial Reporting Coundl's website al wWw.frc.org.USudrtorsre$pOnSItslies. This dewtson forrn part our Report of the Independent Audilors.
REPORT OF THE INDEPENDENT AUDrroRS TO THE TRUSTEES OF RUGBY FREE CHURCH HOMES FOR THE AGED (COP¥llNUED) ofLwr r•port This report is made soldy to the chariils trustees. as a bc#ty, in accortlance with Part 4 of the Charitie$ (Accounts and Reports) Regulattons 2008. Our audrt has b8en undertaken 30 that V•P mtht state to tho chaty's trusteés those matters we are required to state to them in an auditors, rewrt and for no other purpose. To the fullest txtent pemiitted by law. we do not accept or assuTr£ ro$F•S1Lm.1ty to anyMe other than the Chanty the charity's tru8te8s as a body, for our audlt worK for this rep(rt or ryinions have fomxd. Alkinson Flnch & Co, Statutory Audllor Chartered Accountants Central Chamber8 4547 Ajbert Straet Rugby Warwick8hi C11212SG AU(In8on FIh and Co 1$ ellglble to acl as an auditor in tfft of secaK 1212 ofthe compani Act 2008.
. RUGBY FREE CHURCH HOMES FOR ThE AGED STATEMENT OF FINANCIAL ACTMTIE8 FOR THE YEAR ENDED 31ST IIARCH 2025 Caphal r•6e 2025 2024 Fund Fund INCOMING RESOURCES Voluntary Incom• Donatyons Legaciés InvMtm•nt Incom• Incomlng r8•our¢o• from Charltsbl• Actfvitl•8 Residents fees TOTAL INCOMING RESOURCES 6.291 3.175 14,438 1,500 18,796 15.471 17,633 1.871,886 1880,239 1.871.886 1,642,322 1m.8BS 1.677 058 RE80URCES EXPENDED Co•ts of g•n•rntlng funds Investnwnt managernent ¢haryes 177 1,779 Chrltabl• •¢tlvlU Salaries arKI wages (Carn) 4 1.276,788 102,759 45.642 86.298 5.945 17.971 54,219 11,956 1.276,788 102,75 45.642 86,298 1,239.488 92,531 39,564 177,801 6,359 13,438 34,291 11,675 237 3,888 144.889 7,863 4,332 23.080 8,424 61,549 Household •xpen8aS Lyhl and heat Rales and water Residents awnitle8 SaLgries and wages (Adrnln) In8urance8 Bank charyel Tetephone, prtnling, postage and atrrfértls¥vJ Repalrs and renewals profe6Snal fees Audit Costs and publlcatkJn8 General expenses staff tralning Deproclation 17,971 54.219 11,968 124 11.374 83,991 11.6(Xl 4,452 17,652 6.427 81.549 1798.747 83,991 4A52 17.652 6,427 61,649 1 798 747 TOTAL RESOURCES EXPENDED 1798,924 NEf INCOMINGI(OUTGOING) RESOURCES BEFORE TRANSFERS 81AIfj 17,320 98.635 {192,128) Transf•rd b•tw••n lund• 63.817 (2,268) (61,549) NEf INCOMINGI{OUTGOING) RESOURCES FOR THE YEAR (¢arrl•d fomrd) 145.132 61.549 192,128 The notes form part ofthese financial statem8nts Page 10
. RUGBY FREE CHURCH HOMES FOR THE AGED STATEMENT OF FINANCIAL ACTivrriES {Contknu) FOR THE YEAR ENDED 31ST MARCH 2025 Gon•rnl Fund Capltsl 2026 2024 Fund NET INCOMINGI(OLrrGOING) RESOURCES FOR THE YEAR (brought fOrrdI 145.132 15,052 {61,549) (192.128> OTHER RECOGNISED GAINS AND LOSSES ILo•sMVgaln8 on InvoStmenl •8Mts - Realised - Unreallsed NEf MOVEMEpif IN FUNDS {6.8281 50.866 1148.268) 1.673 143.4S9 12,54 (61,549) 84.415 BALANCE BROUGHT FORWARD BALANCE CARRIED FORWARD 75.253 218,712 564.539 567,044 1,495 827 2.135N19 2,283 707 2 135419 All ofthe above resulls are derrrfed from cont'nuiNJ aKI all bsses rwnised In th8 year arè tncluded above. The mtps fomi part ofthese fmanoal st*ments Page11
. RUGBY FREE CHURCH HOIAE8 FOR THE AGED BALANCE SHEET 31ST AIARCH 2025 2024 FIXED ASSErs Tangible assets Investrnents 184078 609,824 2,043,902 1.495,627 624,044 2,119,871 CURRENT ASSErs Debtors Cash at bank and in hand 63.843 226,198 114.212 CREDITORS Arrrt)unts falllng due within one year 10 98,464 NEf CURRENT A8SEfs1(LIABILITIES) 176 932 TOTAL NEf A88ET8 2 135419 CAprrAL FUND8 Capttal reservo 11 183478 1,495.627 INCOME FUNDS Dosignated fvnds Genoral charltable fund 564,539 218 712 786,756 TOTAL FIINDS 219.834 2 135 419 APPROVED BY THE TRUSTEE8 AND SIGNED ON THEIR BEHALF BY: S R Bird- Trustee Revd R J MalDfW. Trustee Date.. Page 12
RUGBY FREE CHURCH HOMES FOR THE AGED CASH FLOW STATEME FOR THE YEAR ENDED 31ST IAARCH 2025 2025 2024 CASH FLOWS FROIA OPERATr4G ACTMTIE8 N•t Cash wovldod ty (u••d kn) op•rnllng actlvlll•8 188,640 C••h Ilow8 from Inv••llng adlvlll•s: Divid8nds and intsrest from investff*nts Purchase of propety, plant and equipmert Pmceeds from sale of investrrents Not ¢a•h provld•d by lu••d In) Invmung aetl¥lll•• 17,633 18,796 159,5411 17 15,914 Change in ¢8sh and Ixsh •quivAlents ffl the reporting per Cash and cash aquivalents al the Winning of the reportiry perul C•Ah •Trd cuh •qulval•nts at th• •nd d th• r•porUng wlod 176,629 (152.726) 203.295 226 198 RECONCILIATION OF NEf INCOME TO NET CA8H FLOW FROM OPERATING ACTivmES 2025 2024 N•t movonmnt kn fund• for th• rnportlng p•rkxl (•• p•r th• •t•t•m•nt of fln•nclal a¢tl¥ltl•• 84415 1148,2881 AdJu•tm•nts for. DeprecLgtion LossepJlgain81 on Inv•stmants Dividends and Interest from investrnents Ilncreaseydecrease in debtorn {Decrease)lincrea8e in credrtors N•t ctsh pvovld•d by op•rntlng •ctMd 61,549 14220 117,533) 35,793 61,549 (50,e86) (18,796} {27,616) 168.640 ANALYSIS OF CASH AND CA8H EQUNALENTS 2026 2024 Cash at bank ond in harKI Cash held in Inve8tsments Tot•1 u•h and ¢•sh aqulval•nts 226.173 20 60.544 25 50 569 Ptye 13
RUGBY FREE CHURCH HOMES FOR THE AGED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICES Accountlng ¢onv•ntlon The accounts have been prepared under the histor c£st cAJnvention as rrDJffied by th8 revaluation of frÈ8hold property and listed invesfftnts to market value, and have been prepared in aCcOrdar with the CharItS SORP ' Nounting and Rewrtirvj by Chariti8s: Statenwrt of Reccmmended Practice applicable to chantss prewng their accounts in aothance wtth the Financial ReportiNJ Standard applicable in the UK and Republic ol Ireland (FRS 1021 (effectrrfe 1 January 20151,, Fhancial Reporting Stsndard 102 The Financial Reporbng Standard applicable in the UK and RopubFL of Ireland and the Chariti05 2011. The charity constitutes a pjblk ben•ffl as defined ty FRS 101 SlgnllkantJudgom•nts and accounllng MthMtO• Thè Trustees consider that there are no material uncxrtalnties about the Ch8nty'8 abilty to continue 88 a gong concern. There are no signfficant judgemants that have a rnatsrial effect on the &counts nor any accounb'ng ests'mates that have a high ri8k ol causing a material 1wstii)t kn a fvture period. In¢om• ITne has b•en tsken to the ryetht of Slaten of fManc1 ath6ts8 on tre fDlknYing b881$: Donations andlegacleg Re8wJents fe88 Investrn8nt incom8 appeals ac<xua18 basls cru816 {matctd wlth Yelatsd wendkuro) Re8ldents fee8 relating to a i)Jturn foNArd. Investment wicome and the gairl(1098e8) C inve81n are allocat•Y to th8 Goneral Care Fund• In the rath) of th8 fund values at start of the y8Ar. Thfs ratlo wa8 75.'585 (2024- 389'.550). IrKome from grants Is recogni8•d ¥then tho charlty has entittt0 the fuN18. The income18 matcw to tt)& 0s8ock7tsd expenditurè aThl any element oftho grart that r8lat•s to firturn cost8 Is doferred aThl canied forward in an appropn'ate re8tri(led fund. Exp•ndltur• Expendllure been charged lo Ihe statermrt offinancL91 athitl•8 in tho period in which it 18 irKurred. T•nlllbl• flx•d asmts preciatl 18 prov¥Jed at the followlng annual rale8 in Nder to wr6ts off exh asset ovor Its estlmaied useful life. Freehold property 1% straight ]ino on min Fyoporty 4% straight line on nthv trIk11n9 10% straight line on pathways 10% straight jin8 4% straigm line ne bulkliry fixttKe8 and fftting8 3 years stsght kne on ofre equipnnt Fixtures and fftllrKJ8 A transfer is made from the Cawtal Reserve to Gener81 Fund to cover Ihe deprociation charge for th8 year (see not8 12). It is the poli of the Trustees not to i18rffs unless they significanty irSe thg value of the I0pty. Investments Listed investments are stated at market value on the bal¥*Ke sIt dale. Realised and unrealised gains kisses are inckKknJ in the statenrt of FIncIal Aclmtkn. P4e 14
RUGBY FREE CHURCH HOME8 FOR THE AGED NOTES TO THE FINANCIAL STATEMENTS (¢onthiuod> FOR THE YEAR ENDED 31ST IAARCH 2025 AccouKfiNG POLICIES leontlnued) Pon•lon ¢o•ts and other prt r•droment bon•fA8 The charty operates defined contrbution pension schewes. The assets ofth8 schemes are held separately fron those of the charty in in(Wdenty adn1$twed fuTrls. contrtins payablo for th8 year are charged in the Statement of Financial A¢tiw'ties. D•8lgnat•d Fund• The cxynmitrnents and intded use of the separale fvnds arn a6 (sdosed in tr Rèport of th8 Trustees. A transfer is made from the ca Furrfl to the General Fd lo covor finarKlal supwt for re8Klent8 do not qualify for full support from publk fur8. DONATIONS AND LEGACES RECEIVED 2025 2024 Donations.. Donations from th8 Churches.. Baplist Unrt8d Refomxd Church Society of FendS Paddox Methc<li¥t Broa¢knll Method18t For garden shrubs . Paddox Mthi&t - Rugby - Rugty 1.134 1.070 500 500 184 345 378 Donation8 from Friends.. Frlfrnds of Bilton Hou8e 740 1,070 MIslIane0 120 165 Donations Irom other OrganISatKs. Blton Poor 400 200 In Ntsmorlam: Tony Cervants8 Ron Honderson Eileen McTaggert Joyce Smith IAIII Spense Jeff Stafford JG T¢yri8S Erika V¥tren 1.323 1944 2,719 5,000 150 376 Glfts for Car• Fund Regular Donations Miscellaneous DonatK)ns GrftAKI 200 5Crf) Page 15
RUGBY FREE CHURCH HOMES FOR THE AGED NOTES TO THE FINANCIAL 8TATEMENTS {contlnu•d) FOR THE YEAR ENDED 31ST IAARCH 2025 DONATIONS AND LEGACIES RECENED (colnued) 2025 2024 L•gacl•o Jes8e Hit¢hens Joan Naomi Ridgeway 500 FEES PAYABLE TO AUDITOR8 2025 2024 Relating to audit 88pIIc48 Reiating to non-audit [¥ 4.332 STAFF NUMBERS AND COSTS 2025 2024 Th• av•r•g• numb•r of p•r•on• •mploy•d by th• charfty durlnq th• y•ar wu: Care and support M)rkers AdminlstratNe stsff 45 Employmont co•1• ol •ll •mploy•M In¢hrfl•d •bov• ctywl••d: Gross wages and satartes Employers nath?nal insura Emfver8 ponskin 8chemo contribullm18ee bel) Agency eo8ts 1,197,993 73,391 23,368 1,109,028 79,215 22,934 65,440 1276615 1331007 No staff receNed a salary in excess of£60,000. The chwity nJn8 a dellned ¢ontrtbutlon pen8Min 8chomo for •mployea$. There wer6 oulstsnding ¢¢nthbutions of £2.022 {2024- £2.581) at the yaar end. No remuneratlon or expens8s were paYae to Trustees durAw the y•ar. The total rerThJneratlon pald to key management personnel wa8 £71.904 {2024 - £W2,231). IP4VE8TPIENT INCOME 2025 2024 Bank interest rec8t¥abl8 interest and Injst Income- UK 747 18,049 16,627 P4e 16
RUGBY FREE CHURCH Hol8 FOR THE AGED NOTES TO THE FINANCIAL STATEMENTS (contlnuod) FOR THE YEAR ENDED 31ST AIARCH 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMT Car• Fund Capftal ro8erv• 2024 Fund INCOMING RESOURCES Voluntary incom• Donations L8gacioS Inv•stm•nt Incoffl• In¢omlng r••ourc•• from Charllabl• ActMtI•• Residents fees TOTAL INCOMING RESOURCES RESOURCES EXPENDED Co8ts of o•n•ratlng fund• Intment mnagemBnt charges CharJlabl• actfvttl Salane6 and wages (Carel Food Household exp889 Light and heat Rates ond water Rfjsidents amenities Salaiies and wages (Adffdnl Insurancos Bank charges Telephone, prlnting, p08tsge and advwknsk Repalr8 and renffwals ProfeSsn81 fees Audit C08ts and publlcalons General expenses staff training Depreciatsn 3.W17 10,531 1,500 12,403 14,438 1.500 18,798 1.642,322 1.652.622 1,642,322 1,677 056 1,239,486 92.531 39,564 1TI.801 8.359 13,436 34,291 11,675 237 1,239,486 92,531 39.564 177,801 6,359 13,436 34,291 11,675 237 3,888 144,889 7,863 4.332 23,080 6,424 81,549 1867,405 144,889 23,080 6.424 81,549 TOTAL RE80URCE8 expENDED NEf IOUTGOINGYINCOMING RESOURCES BEFORE TRANSFERS Trnnsfors bgtw••n fund• NET (OUTGOINGYINCOIING RESOURCES FOR THE YEAR 1868 010 1869 184 (215,388) 8.256 23,280 16,248) (192.1281 (2.008) 1207.132) 17,012 (2,008> (192,128) OTHER REGOGN18ED GAINS AND LOSSES - Reallsed (lo•$Y9a1TrS on InvMtm•nt a88•ts . Unrn•ll8•d1105•88ygakn• on Inv••bMnt aM•ts NET PAOVEMENT IN FUNDS (2,322) 17.233 {4.504} 33,433 (6.8261 50,686 {1W2.221) 45,941 (2,008) {148,2881 BALANCE BROUGHT FORWARD 267.474 518,598 1,497,635 2,283.707 BALANCE CARRIED FORWARD 75,253 564,539 1,495.627 2,135,419 Pago 17
RUGBY FREE CHURCH HOMES FOR THE AGED NOTES TO THE FINANCIAL STATEMENTS (conthu•d) FOR THE YEAR ENDED 31ST MARCH 2025 6 TANGIBLE FIXED ASSETS Fmhold FIX6 and prowty flttlng8 Totsl COST At 1st April W24 and at 31st March 2025 2382527 498.899 28 DEPRECIATION At 1st April 2024 and at 31st March 225 Chargo for the year At 31Bt March 2025 918M81 387,318 1.285,789 962 386.126 NET BOOK VALUE At 31 st March 2025 At 31st March 2024 1,496 627 Co•t or valuatlon at 31•t mAh 2025 l• 1•prn•• ty: At valuation on 31st December 1990 At e08t 750,OIXI 170,000 926.000 2,627 498 The co81 of the Ofiglnal propety ts not knry*n. The propety has not been Te-vak wnce 1990, lThever. the Trustees are c¥)nlldent that tho rrent valuo is In excess of the nel bcd( value. 7 INVESTMENTS 2025 2024 rkot valu• Openlng market value Additions DIsFosals at opening rnarket value 624044 630,037 56,659 624,044 573,378 (14220) 50,888 24 624 044 Unrealiged IloJsygaln on investn At 31st March 2025 hi8torfcal cost of the nivestmnt •KJ (exchjding cash) at th8 year end was £854,607 (2024 . £654,507), All tke Investrnents are held prlmarlty to pr(r4bde Invest retym for th8 charlty. 2026 2024 1nveBtnts at nwrket value Coryts.' Equitles shares- UK Investment trusts and unit trusts- UK 150 108 623,936 Page 18
.RUGBY FREE CHURCH HOMES FOR THE AGED NOTES TO THE FINANCIAL STATEMENTS Icontlnued) FOR THE YEAR ENDED 31ST MARCH 2026 8 DEBTORS: AMouKfs FALUNG DUE VIITHIN ONE YEAR 2026 2024 Rents due Income tax recoverable Prepayrnnts 14.664 999 51,355 1,508 27,850 9 CASH AT BANK 2026 2024 Lbyd8 Bank PIC- current accounts Held by knv8stThnt MagerS Cash in haTrJ 226,794 26 379 50,104 25 440 10 CREDITOR8: AMouKfs FALLING DUE ONE YEAR 2026 2024 Trade credltors Sockgl security and other taxe8 other creditors Lwerred incor 5,341 27,128 33,921 12,882 22.433 29,615 13.433 20,101 98,464 11.726 11 CAPITAL RESERVE 2026 2024 Balance at 1st April 2024 Transfgr (to)fftom General Fund Balance at 318t March 2025 IM95,627 1,497,635 2,008 1495 627 The caFtsI reserye reprets tho net tx)ok valu• ofthe bu1 iry and Clts. Page 19
RUGBY FREE CHURCH HOME8 FOR THE AGED NOTES TO THE FINANCIAL STATEMENT8 {crythdI FOR THE YEAR ENDED 31ST AIARCH 2025 12 ANALYSIS OF NET ASSEfs BETWEEN FUNDS Gonor•l fund C•rn fund Capltal Tol•l fund8 Tangible fixed assots Investrnents Current assets Current liabilitie8 At 31st Marth 2025 l M34,078 1,434.078 609,824 254.048 169,742 440m2 127.OB6 12V62 116 218,712 079 19,834 Tangible fd assets Investments Cuffent assets Current liablltties Al 31st March 2024 1.495,627 1.495.627 624.044 114,212 98.464 2 135.419 73,401 1(K1,316 98,464 550,643 13,898 1495 627 The t<Jtal unreali8•d1058 included the ab is £44,683 (2tr24- £30,463). In¥ostrnent gain8 or los aro dlvld•d belween the Carn Fund arKI the Gerwal Fund In th• ratlo o1th8 values of thè furAls at tho start of th• year. A transfer of £2,268 (2024 - £6.248) was made from the Carn Fund to the eral Furmj to ow•r the diff8renc• betW•8n fws charsed and fots wd duriry the year. 13 CAPITAL cofiiAITMEpirs The Charity hes no capital COntts(2024. N(rn). 14 RELATED PARTY TRANSACTIONS Th8r8 have Lwn no (2024. None) related during the yew. Page 20
RUGBY FREE CHURCH HOMES FOR THE AGED FINANCIAL SUPPORT Bilton U58 18 managed by an exsiVe Rugty Chwity. 8uppxI ts the through voluntary subscripb.ons helps us to ènwe the reLwary upkeep of a tsrge property to the changing requlrements of an agelng population. All who this reFYt are invited to C(xkIer usirwJ orn or more of the fOrn9 methods to help the ¥)rk. By Donatlon Donations will b& gratefulty ackncwledged by our Tt&2surer. kkN7wkntrm8nt will also be made in the Annual Report Grfts by taxp8yers qualify for the 1ft Airt sCthen, vthich will enable our Treasurer to recover the income tax paid and we ask those who make grfls, say, in eThyy of a loved one to con8kJer this rrt>ssibilty. By L•gacy You can make a boquest in your WN, and your ScAicitor wlll be able to adviso you further. Many people See thls as a 8uftable memorial to provido for the ¢onknt and of ¢)thern. Memorial gits wlll b8 recorded in our'MerrxHlal Bc#*'. Our Treasurer wll be glad to advise you on the finan(ad aspects. Ptye 21