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2023-02-28-accounts

Company No: 00326093 Charity No: 219215

Mountlands Trust Limited

(Company Limited by Guarantee) Trustees’ Report and Accounts

For The Year Ended 28 February 2023

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

CONTENTS

Page
Company information 1
Trustees’ annual report 2
Independent examiner’s report 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 11
Notes to the accounts 12

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

COMPANY INFORMATION

Trustees Mrs G C Woods-Jack (resigned 6 June 2022)
Mrs H M J Bishop (resigned 22 February 2023)
Ms A J Hughes (resigned 30 September 2023)
Ms R S Kennedy (Chair)
Mrs M J Hossell
Mrs G R Fraser (appointed 2 July 2022)
Mr H Plummer (Deputy Chair) (appointed 10 November 2022)
Company Secretary Mr S N Brearley
Christian Science Nursing Manager Mrs J A Brearley
Administrator Mr S N Brearley
Registered office Lime Tree House
264 Washway Road
Sale
Cheshire
M33 4RZ
Company number 00326093
Charity number 219215
Independent examiner Nicola Mason FCA DChA
MHA Moore and Smalley
Chartered Accountants & Statutory Auditor
Richard House
Winckley Square
Preston
PR1 3HP
Investment manager James Brearley & Sons Limited
Walpole House
Unit 2, Burton Road
Blackpool
FY4 4NW

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MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT)

FOR THE YEAR ENDED 28 FEBRUARY 2023

The trustees, who are also directors for the purposes of the Companies Act, have pleasure in presenting their report (incorporating the directors’ report) and the financial statements of the charity for the year ended 28 February 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.

Structure and governance

Mountlands Trust Limited is a company ("the company") incorporated under the Companies Act on 31 March 1937, limited by guarantee and not having a share capital. The company is governed by its Memorandum of Association and Articles of Association dated 15 January 1937. New Articles using the Charity Commission’s standard model were adopted in January 2018. These consolidated a change introduced in the 1980’s that the directors are the only company members. The articles provide for a minimum of 3 directors and a maximum of 6 directors.

The company acts as a charity and does not participate in public fundraising events. It derives its income from patient contributions towards their care, patient benevolent grants from “The Aid Fund for Christian Scientists in Need of Nursing Care” and other similar trusts, donations from churches and individuals, as well as income from investments and legacies.

The trustees who have served during the year, and those appointed since the year end, are listed on the information page. Trustees are recruited by invitation based on the skills needed. Appointment is made by majority vote at a General Meeting of the charity. The Charity has policies and procedures in place for trustee induction and training along with a trustee induction pack which are regularly reviewed. Unless otherwise determined by the charity in general meeting, trustees serve for a term of three years and shall be eligible for re-appointment for three further terms of three years. A trustee who has served for four consecutive terms of three years shall not be eligible for reappointment.

The Trustees are responsible for the overall management of the charity, for strategic development and for agreeing policies and usually meet monthly. They keep up to date with current legislation and governance. Daily management of the care home is delegated to the Christian Science Nursing Manager and the Administrator. The pay and remuneration of these key management personnel are reviewed and set annually by the trustees in relation to a full staff pay review done at the same time and is governed by what the charity can afford.

Objectives, Activities and history of the Charity

The main activity of the charity is the operation of Lime Tree House, a Christian Science nursing facility based on Christian Science principles. Lime Tree House was opened to patients in September 2003 with four Christian Science nursing rooms. The small size and use of a converted bungalow was to make the nursing care as homelike as possible. Each nursing room is different in shape, size and colour scheme. In 2013 the charity completed a major extension and refurbishment project, named the Meadows Project. This increased the Christian Science nursing rooms to 6, added a lounge and conservatory overlooking a newly landscaped rear garden and added a laundry room and much needed storage and office space. In 2017 the charity completed another major project, named the Attic Project, to make use of all the roof space to enhance the charity’s operational efficiency.

Lime Tree House was registered with the Commission for Social Care Inspection (CSCI) as a “care home not providing medicines or medical treatment”. On 1 October 2010 the CSCI was replaced by the Care Quality Commission (CQC) under the Health & Social Care Act 2008. Lime Tree House is now registered with the CQC under the registered activity of “Accommodation for persons who require nursing or personal care”. Lime Tree House is a member of the world-wide "Association of Organizations of Christian Science Nursing Inc".

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MOUNTLANDS TRUST LIMITED

(COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2023

Lime Tree House is accredited as a Christian Science Nursing facility by "The Commission for Accreditation of Christian Science Nursing Organisations/Facilities Inc" based in the USA, which reviews each Organisation/Facility every three years. It has been accredited since opening in 2003. This accreditation also allows patients using Lime Tree House to access benevolence from "The Aid Fund for Christian Scientists in Need of Nursing Care".

The aim of the charity is to provide high quality Christian Science nursing care to support patients who are relying on Christian Science for healing. The charity does not use volunteers.

Success is measured by the letters of gratitude from patients and their relatives and by recognition of our high standards from the various bodies that inspect the charity.

Achievements and performance

This year is the nineteenth full year of operation for Lime Tree House.

The Commission for Accreditation of Christian Science Nursing Organisations/Facilities Inc: It reviewed Lime Tree House and granted a further 3 years accreditation from May 2020: It reviewed in March 2023 (see Plans for future periods section for details).

CQC Inspections: Prior to 2003 these are all unannounced. All CQC Inspection Reports are available on the CQC website, or via the CQC link on our website. The last inspection was on 3 August 2017 where Lime Tree House maintained the following ratings given by the CQC at their previous inspection on 7 May 2015:

Our next inspection was due by August 2020 but due to the global pandemic the CQC suspended inspections. In July 2021 the CQC started direct monitoring of Care Homes and have since then emailed the following each month

“We have not found evidence that we need to carry out an inspection or reassess our rating at this stage. This could change at any time if we receive new information. We will continue to monitor data about this service. Please note, this does not amount to an assessment of the rating for this service under section 46 of the Health and Social Care Act 2008”.

The CQC did an announced inspection in August 2023 (see Plans for future periods section for details).

Christian Science nursing care: The aims for the financial year ending 28 February 2023 were: to continue to find ways of improving our service and further develop our training for Christian Science student nurses.

Christian Science nursing care occupancy: Our ninth full year of operating with six rooms was 63.1%. Lower than the 67.8% of 2022 and the 68.1% of 2021 but lower than the previous years due to the effects of the global pandemic compared with 82.6% (2020) 85.3% (2019), 87.5% (2018), 71% (2017), 71% (2016) and 83% (2015).

Staffing: During the year the team remained unchanged and continued to work very well together. This consistency enables a high standard of care to be given to patients. Staff suggestions are encouraged and have resulted in some of the improvements listed in the maintenance section.

Patient Income including Aid Fund C.S. nursing grants (see note 3 on page 16): This was £396,092 in 2023 Previous years were: £362,403 (2022) £288,930 (2021), £310,915 (2020), £305,295 (2019), £325,980 (2018), 214,093 (2017), £247,813 (2016) and £268,823 (2015).

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MOUNTLANDS TRUST LIMITED

(COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2023

Support from the Christian Science community (see note 2 on page 16): Donations and legacies for 2023 were £484,675 compared with £258,403 (2022), £245,838 (2021), £169,737 (2020) the lowest figure to date, £535,206 (2019) the highest figure to date, £354,975 (2018), £426,371 (2017), £213,929 (2016) and £256,603 (2015).

Open Meetings : The 2022 Open Day was livestreamed on November 26th with the inspirational talk given by Gay Bryant Flatt C.S.

Maintenance & Improvements: The Solar Panels continue to reduce the amount of electricity purchased by 30% each year. The additional rooms in the roof space provided by the Attic Project continue to be an asset in providing storage, a meeting/training room and staff accommodation. A sixth ceiling hoist was fitted so that all patient rooms have one. Air conditioning units were added to four more rooms and one existing unit replaced. These also provide heat and are our contingency plan in case of failure of the main source of heating to the building.

Christian Science nursing care fees: After reviewing these, the Charity increased them from 1 March 2022.

Plans for future periods

The Commission for Accreditation of Christian Science Nursing Organisations/Facilities Inc: It reviewed Lime Tree House in March 2023 and granted a further 3 years accreditation to 31 July 2026. The next review date therefore will be mid-2026.

CQC Inspections: We had an announced inspection in August 2023 and received an overall rating of Outstanding, achieving outstanding in two categories. This is consistent with our aim ‘to provide high quality Christian Science nursing care to support patients who are relying on Christian Science for healing’.

Christian Science nursing care: The aims for the financial year ending 28 February 2024 are: to continue to find ways of improving our service and further develop our training for Christian Science student nurses and to recruit new staff to replace those retiring.

Maintenance & Improvements: To replace the original two Vendlet turning systems (for patient bed care) with the newest model and to replace the original five air conditioning units due to failure of the main compressor. The kitchen refurbishment, new heating source for the building, and post covid building alterations will be reviewed in 2023 and planned in 2024.

Governance: Trustees and employees to maintain “Continuing Professional Development” and keep up to date with changing legislation and work practices and skills. A new Strategic plan will be developed.

Open Meetings: no meeting was held in 2023 but one is expected to be held in summer 2024.

Knowle Park South Africa: to providing facility training for their trainee Christian Science nurses.

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MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2023

Public Benefit : Throughout planning the company’s past and future activities, the trustees kept in mind the Charity Commission’s guidance on the public benefit. The following are examples of this: the completed Meadows extension project, the Attic Conversion project, providing each patient room with a ceiling hoist and air conditioning unit and having 50% of patient rooms with a special bed that turns patients who need bed care.

Financial review

At 28 February 2023 the charity had reserves of £1,606,400; £24,946 of this was restricted. Overall reserves have increased in the year from 28 February 2022 when the charity had reserves of £1,516,209; £25,190 of this was restricted.

The principal funding sources are listed under Risk Management and how they support the charity’s key objectives is detailed under “Results” on page 5.

Reserves policy: Our aim is to hold free reserves amounting to at least six months running expenses (around £400,000) but hold more than this in order to have the ability to cope with fluctuating voluntary income or occupancy. The Trustees monitor this and have a strategy in place to increase the level of reserves if necessary, which they implemented in late 2022 and were effective in increasing the General Fund by £98,000 in 2023.This strategy will be ongoing in 2024.

Results: The details of the charity's income and expenditure for the year and its net assets at 28 February 2023 are on pages 8 and 9 of the accounts. The charity generated a net gain of £108,099 for the year (before investment adjustments) compared to losses of £59,486 (2022), £135,406 (2021), £168,985 (2020), surpluses of £211,159 (2019), £119,132 (2018) and £12,827 (2017), a loss of £169,539 (2016) and a surplus of £29,825 (2015).

The unrestricted funds of £517,680 (see note 15 on page 22) held at 28 February 2023 represent free reserves amounting to 17.2 months running expenses at average income levels, or 7.8 months running expenses with no income. This is an increase of £98,009 on the fund held at 28 February 2022. The company has in place, as for previous years, detailed operational budgets for the coming year, which will be constantly reviewed in conjunction with our reserves policy.

Income from donations and legacies (see note 2 on page 16): The trust requires donations and legacies each year to balance income and expenditure. This year it required £387,763 and received £495,875. The difference between these two figures accounts for the gain in the year.

Income from Charitable Activities (see note 3 on page 16): This increased by £12,882 comprising an increase of £33,689 from patient care coupled with a decrease in grants of £20,807.

Expenditure on Charitable Activities (see note 5 on page 17): Expenditure increased by £77,688, mainly due to increased costs generally, especially electricity and a staff pay rise on 1 March 2022. The £795,450 cost is consistent with the pre-pandemic cost of £691,362 in 2020 when these two factors are considered. We received the following grants to help mitigate some of the pandemic related costs:

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MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) (Continued) FOR THE YEAR ENDED 28 FEBRUARY 2023

Investments: The charity’s investment objectives are to generate more return on the capital than it would generate in COIF or a high interest bank account whilst protecting the capital. The income generated is reinvested. The portfolio has been managed in line with our broker’s High Yield Collectives model which is low risk, but in May 2019 this was changed to their defensive lower risk model to protect the capital. The trustees meet quarterly with the broker. The portfolio continues to meet its objectives.

Risk management

The trustees review the major operational risks which the charity faces and confirm that systems are in place to mitigate these risks. Professional advisers are empowered to act on their behalf.

The principal risks and uncertainties have been referred to in other sections of this report and are beyond the direct control of the charity; they are income and staffing. Income falls into three areas a) donations and legacies, b) directly paid patient fees, c) external benevolent grants to patients towards their fees. The latter two depend on the variability of the level of patient demand, the level of their care needs and what they can reasonably afford to pay towards their care. The charity’s Reserves Policy is designed to mitigate these risks as it has done in the year to 28 February 2023 with the free reserve remaining over the £400,000 mark.

The global pandemic has been referred to in other sections of this report. It is however no longer a further principal risk. Whilst restrictions have been lifted, one patient room remains in use as a CS nurse shift change meeting room with good social distancing. Due to the current occupancy levels this does not impact on potential loss of income.

The charity actively promotes the recruitment and training of Christian Science nurses. It has policies and procedures in place to ensure a high standard of care and high compliance with regulations.

Small company provisions

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

28/02/2024

Approved by the trustees on …………………………..

Signed by order of the trustees

.............................................................................

Ruth S Kennedy: Chair of the Trustees

Registered office: Lime Tree House 264 Washway Road Sale Cheshire M33 4RZ

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MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF MOUNTLANDS TRUST LIMITED FOR THE YEAR ENDED 28 FEBRUARY 2023

I report to the charity trustees on my examination of the accounts of the company for the year ended 28 February 2023 which are set out on pages 8 to 23.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Charted Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

…………………………………………… Nicola Mason FCA DChA MHA Moore and Smalley Chartered Accountants Preston

28/02/2024 Date………………………….

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MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 28 FEBRUARY 2023

Unrestricted
funds
Note
£
Income:
Donations and legacies
2
484,675
Charitable activities
3
396,092
Investment income
4
7,293
Otherincome: grants
1,917
Total income
889,977
Expenditure:
Expenditure on charitable activities
5
781,634
Total expenditure
781,634
Net incoming/(outgoing) resources before
other gains and losses
108,343
Unrealised gain (losses) on investments
(9,520)
Realised gains/(losses) on investments
(8,388)
Net income/(expenditure)
90,435
Transfers between funds
-
Net movement in funds
90,435
Reconciliation of funds:
Funds balance brought forward
1,491,019
Funds balance carried forward
1,581,454		 Restricted
funds
£
11,200
2,372
-
-
13,572
13,816
13,816
(244)
-
-
(244)
-
(244)
25,190
24,946		 Total funds
2023
£
495,875
398,464
7,293
1,917
903,549
795,450
795,450
108,099
(9,520)
(8,388)
90,191
-
90,191
1,516,209
1,606,400		 Total funds
2022
£
258,403
385,582
6,017
8,274
658,276
717,762
717,762
(59,486)
7,821
3,237
(48,428)
-
(48,428)
1,564,637
1,516,209

The charity has no recognised gains or losses other than the results for the year as set out above.

All of the activities of the Charity are classed as continuing.

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MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET

AS AT 28 FEBRUARY 2023

Note
Fixed assets
Tangible assets
8
Investments
9
Current assets
Debtors
10
Cash at bank
Creditors: amount falling due within
one year
11
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
Net assets
Funds
Restricted
14
Unrestricted
15
Designated
15
Total funds
16		 Unrestricted
funds
£
1,095,384
269,926
1,365,310
59,316
228,231
287,547
(71,403)
216,144
1,581,454
-
1,581,454
-
517,680
1,063,774
1,581,454		 Restricted
funds
£
138
-
138
-
24,808
24,808
-
24,808
24,946
-
24,946
24,946
-
-
24,946		 Total funds
2023
£
1,095,522
269,926
1,365,448
59,316
253,039
312,355
(71,403)
240,952
1,606,400
-
1,606,400
24,946
517,680
1,063,774
1,606,400		 Total funds
2022
£
1,107,592
284,368
1,391,960		 Total funds
2022
£
1,107,592
284,368
1,391,960
1,391,960
55,037
131,781
186,818
(62,569)
124,249
1,516,209
-
1,516,209
25,190
419,671
1,071,348
1,516,209

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MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET (continued)

AS AT 28 FEBRUARY 2023

For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

28/02/2024

These accounts were approved and authorised for issue by the trustees on …………………………. and are signed on their behalf by:

………………………………………………….

Ruth S Kennedy: Chair of the Trustees

Company Registration Number: 00326093

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MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 28 FEBRUARY 2023

Cash flows from operating activities:
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Investment income
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Purchase of fixed asset investments
Proceeds from the sale of fixed asset investments
Net cash provided by/(used in) investing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
Consisting of:
Cash in hand
Cash at bank
Total cash at bank and in hand
Net income/(expenditure) for the year
Investment income received
Losses/(profits) on disposal of tangible fixed assets
Losses/(gains) on investments
Depreciation of tangible assets
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities		 2023
£
130,767
7,293
-
(13,336)
(100,693)
97,227
(9,509)
121,258
131,781
253,039
91
252,948
253,039
90,191
(7,293)
255
17,908
25,151
(4,279)
8,834
130,767		 2022
£
(42,451)
6,017
5,982
(1,773)
(56,643)
54,667
8,250
(34,201)
165,982
131,781
100
131,681
131,781
(48,428)
(6,017)
(3,461)
(11,058)
25,558
502
453
(42,451)

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MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

1 Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investments. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. The charity meets the definition of a public benefit entity under FRS102.

The financial statements are prepared in sterling which is the functional currency of the charity and are rounded to the nearest £1.

The particular accounting policies adopted by the trustees are described below. These policies have been consistently applied to all years presented unless otherwise stated.

Company status

The charity is a private company limited by guarantee incorporated in England and Wales, without share capital. The guarantors up to a total of £1 are the trustees of the company. The registered office is given in the company information on page 1.

Going concern

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements.

Following their assessment the trustees have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity’s ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Investments

Investments are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of the asset as follows:

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

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MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

1 Accounting policies (continued)

Income

All income is recognised in the statement of financial activities when the charity has entitlement to the funds, any performance conditions for receipt have been met, it is probable that the income will be received and the amount can be measured reliably. Where a claim for repayment of income tax has or will be made, such income is grossed up for tax recoverable. The following accounting policies are applied to income:

Donations

Donations are reported gross. Donation income to which the charity is entitled but which it has not received by the year end are included in incoming resources in the statement of financial activities and shown as debtors in the balance sheet.

Legacies

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution.

Income from charitable activities

Nursing fees and other income from charitable activities is recognised upon provision of the service to which it relates. Grant income is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

Investment income

Investment income is accounted for when receivable.

Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), no amounts are included in the financial statements for services donated by volunteers.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The charity's operating costs include staff costs, premises costs and other related costs. All expenditure is classified as charitable expenditure in relation to the charity’s main activity of running Lime Tree House.

-14-

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

1 Accounting policies (continued)

Governance costs

Governance costs incorporate the annual fees payable for the preparation of the accounts and Independent Examination.

Funds

Where conditions are placed on the receipt of funding or it is received for a specific purpose, it is included within restricted funds. Where there are no conditions, the funding is included within unrestricted funds. Designated funds are the funds set aside by the trustees out of unrestricted funds for specific future purposes or projects.

Pension costs

The charity contributes to a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the SOFA.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions, it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

-15-

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2023

2 Income from donations and legacies

2
Income from donations and legacies
Unrestricted income:
Legacies
Donations
Sub-total – unrestricted income
Restricted income:
Donations
3
Income from charitable activities
Unrestricted income:
Christian Science nursing fee grants
Christian Science nursing fees
Rest, study & supplies
Sub-total – unrestricted income
Restricted income:
Christian Science nurses training grants
Grants
4
Investment income
Interest receivable
Dividends receivable		 2023
£
145,317
339,358
484,675
11,200
495,875
2023
£
180,561
215,056
475
396,092
-
2,372
398,464
2023
£
976
6,317
7,293		 2022
£
44,000
214,403
258,403
-
258,403
2022
£
113,854
248,535
14
362,403
12,218
10,961
385,582
2022
£
22
5,995
6,017

All of the investment income received in this year and the comparative year was unrestricted.

-16-

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2023

5 Expenditure on charitable activities

Running of Lime Tree House – current year
Staff costs including training
Running costs
Depreciation
Investment management fees
Governance costs
Running of Lime Tree House – prior year
Staff costs including training
Running costs
Depreciation
Investment management fees
Governance costs		 Unrestricted
funds
£
601,045
149,260
25,161
3,468
2,700
781,634
Unrestricted
funds
£
531,647
134,568
21,789
3,720
2,550
694,274		 Restricted
funds
£
3,372
10,200
244
-
-
13,816
Restricted
funds
£
12,218
10,961
309
-
-
23,488		 Total funds
2023
£
604,417
159,460
25,405
3,468
2,700
795,450
Total funds
2022
£
543,865
145,529
22,098
3,720
2,550
717,762

6 Staff costs and employee benefits

The aggregate payroll costs were:

Wages and salaries
Social security costs
Agency staff
Other pension costs		 2023
£
487,076
42,233
5,879
42,356
577,544		 2022
£
442,122
35,158
1,458
39,906
518,644

Trustees’ expenses

During the current and prior year, no trustees have been reimbursed in relation to expenses incurred wholly in relation to charitable activities. No trustee has received any remuneration from the charity during either the current or the previous year.

Particulars of employees:

The company employs its own staff but uses a chef for relief work where necessary. No member of the company’s staff is remunerated by way of a salary in excess of £60,000.

-17-

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2023

6 Staff costs and employee benefits (continued)

2023 2022
No No
Number of employed staff 19 18

The total employee benefits of the key management personnel of the charity for the year were £92,480 (2022: £86,308).

7 Net outgoing resources

2023 2022
£ £
Net outgoing resources for the year are stated after charging:
Independent Examiner’s remuneration:

Independent Examiner’s remuneration		 800 750

Other financial services		 1,900 1,800
Depreciation of owned fixed assets 25,151 25,559

8 Tangible fixed assets

Cost
At 1 March 2022
Additions
Disposals
At 28 February 2023
Depreciation
At 1 March 2022
Charge for the year
Disposals
At 28 February 2023
Net book value
At 28 February 2023
At 28 February 2022		 Property
Furniture &
equipment
£
£
1,192,609
111,744
11,508
1,828
-
(936)
1,204,117
112,636
121,261
77,483
19,082
5,375
-
(681)
140,343
82,177
1,063,774
30,459
1,071,348
34,261		 Motor
vehicles
£
850
-
-
850
714
34
-
748
102
136		 Computer
equipment
£
11,170
-
-
11,170
9,323
660
-
9,983
1,187
1,847		 Total
£
1,316,373
13,336
(936)
1,328,773
208,781
25,151
(681)
233,251
1,095,522
1,107,592

-18-

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2023

9 Investment held as fixed assets

Investment held as fixed assets
Market value at 1 March 2022
Additions
Disposals proceeds
Realised investment gains/(losses)
Unrealised investment gains/(losses)
Value at 28 February 2023
Investments comprise the following:
Investment assets in the UK
Investment assets outside the UK
Market value at 28 February 2023
Historical cost at 28 February 2023		 2023
£
284,368
100,693
(97,227)
(9,520)
(8,388)
269,926
87,993
181,933
269,926
262,025		 2022
£
271,333
56,643
(54,667)
7,822
3,237
284,368
156,178
128,190
284,368
265,482

Investments are valued at closing bid values at the year end as determined by the Charity’s investment managers, James Brearley & Sons. The investment managers work to the trustees’ investment policy which is established within the restrictions imposed by the Trustee Act 2000.

10 Debtors

Debtors
Prepayments and accrued income
Other debtors
Creditors: amounts falling due within one year
Trade creditors
Accruals		 2023
£
52,569
4,172
2,575
59,316
2023
£
67,849
3,554
71,403		 2022
£
46,646
5,816
2,575
55,037
2022
£
57,944
4,625
62,569

11 Creditors: amounts falling due within one year

-19-

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 28 FEBRUARY 2023

12 Related party transactions

During the year the company purchased goods and services from The Art Store (British Isles) Limited, totalling £1,275 (2022: £1,645). One of the owners of this business is Mrs G C Woods-Jack, who was a trustee of the company during part of the year. All transactions were on a commercial basis and no balances were outstanding in relation to these transactions at either year end.

13 Pensions

The company historically operated two defined contribution schemes in respect of staff. One was closed on 31 December 2009, and a new scheme took its place on 1 January 2010. Five members transferred from the old scheme to the new scheme.

The schemes and their assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £42,356 (2022: £39,906). At the balance sheet date the company had outstanding contributions of £4,966 (2022: £3,971).

14 Restricted funds

Restricted funds
Current year
Other grants received
The Meadows Project
Trafford Staff Grants
Donation for training
Donation for staff
Donation for PPE
Building and other grants
Prior year
Visiting C S Nursing Service
Other grants received
The Meadows Project
Trafford Staff Grants
Nurse Training Grants
Building and other grants		 Balance at
1 March
2022
£
220
162
-
-
-
-
24,808
25,190
Balance at
1 March
2021
£
45,605
500
191
-
-
24,808
71,104		 Incoming
resources
£
-
-
2,372
5,200
1,000
5,000
-
13,572
Incoming
resources
£
-
-
-
10,961
12,218
-
23,179		 Outgoing
resources
£
(220)
(24)
(2,372)
(5,200)
(1,000)
(5,000)
-
(13,816)
Outgoing
resources
£
-
(280)
(29)
(10,961)
(12,218)
-
(23,488)		 Fund
transfer
£
-
-
-
-
-
-
-
-
Fund
transfer
£
(45,605)
-
-
-
-
-
(45,605)		 Balance at
28 February
2023
£
-
138
-
-
-
-
24,808
24,946
Balance at
28 February
2022
£
-
220
162
-
-
24,808
25,190

-20-

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2023

14 Restricted funds (continued)

Visiting Christian Science Nursing Service

No further donations were received in the current or prior year to contribute towards the setup and running costs for the Visiting Christian Science Nursing Service. Following consultation with the donor of the brought forward funds, approval to transfer the remaining unspent amount to unrestricted funds was received and this transfer was made in the prior year.

Other grants received

This related to a grant which was received in a previous year to purchase a patient turning bed system. The closing balance on this fund represents the carrying value of the bed system within fixed assets.

The Meadows Project

This fund represented the carrying value of the assets purchased with the funds received to spend on the building project, excluding the building itself and the work carried out on it which is in a separate designated fund as detailed in Note 15.

Trafford Staff grant

Government grant via Trafford MBC Infection Control was given as gratitude to care staff who worked through covid.

PTCSN training grant

This grant was claimed to contribute towards training costs incurred during the prior year.

Donation for training

This donation was received to help with the costs of training Christian Science Nurses.

Donation for staff

This donation was received to express gratitude to staff for the good care given to a relative.

Donation for PPE

This donation was received to help with PPE costs in the year.

Building and other grants

Two grants received to carry out additional work to the buildings and also to cover the costs of updating policies and procedures.

-21-

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2023

15
Unrestricted funds
Current year
Designated:
Property
General fund
Prior year
Designated:
Property
General fund		 Balance at
1 March
2022
£
1,071,348
1,071,348
419,671
1,491,019
Balance at
1 March
2021
£
1,090,200
1,090,200
403,333
1,493,533		 Incoming
resources
and gains
£
-
-
889,977
889,977
Incoming
resources
and gains
£
-
-
646,156
646,156		 Outgoing
resources
and losses
£
(19,082)
(19,082)
(780,460)
(799,542)
Outgoing
resources
£
(18,852)
(18,852)
(675,423)
(694,275)		 Fund
transfer
£
11,508
11,508
(11,508)
-
Fund
transfer
£
-
-
45,605
45,605		 Balance at
28 February
2023
£
1,063,774
1,063,774
517,680
1,581,454
Balance at
28 February
2022
£
1,071,348
1,071,348
419,671
1,491,019

Designated funds – property

This represents the carrying value of the property within the accounts.

-22-

MOUNTLANDS TRUST LIMITED (COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (Continued)

FOR THE YEAR ENDED 28 FEBRUARY 2023

16 Analysis of net assets between funds

Unrestricted
£
Fund balances at 28 February 2023 are represented
by:
Tangible assets
31,610
Investments
269,926
Current assets
287,547
Current liabilities
(71,403)
517,680
Unrestricted
£
Fund balances at 28 February 2022 are represented
by:
Tangible assets
35,862
Investments
284,368
Current assets
162,010
Current liabilities
(62,569)
419,671		 Designated
£
1,063,774
-
-
-
1,063,774
Designated
£
1,071,348
-
-
-
1,071,348		 Restricted
£
138
-
24,808
-
24,946
Restricted
£
382
-
24,808
-
25,190		 Total
£
1,095,522
269,926
312,355
(71,403)
1,606,400
Total
£
1,107,592
284,368
186,818
(62,569)
1,516,209

17 Company Limited by Guarantee

Mountlands Trust Limited is a company limited by guarantee, without share capital. The guarantors up to a total of £1 are the trustees of the company.

The guarantors have confirmed that they will not seek repayment of the balance owed to them in preference to third party creditors.

-23-