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2025-01-31-accounts

Charity registration number 221746 (England and Wales)

HONEYWOOD HOUSE NURSING HOME

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

HONEYWOOD HOUSE NURSING HOME

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees P R Johnson (Retired Policeman) I G Blackwell D White R Heath (Appointed 11 July 2025) S L Webb (Appointed 30 September 2025) Charity number 221746 Principal address Honeywood House Horsham Road Rowhook Horsham West Sussex England RH12 3QD Auditor Anova The Barn, Meadow Court Faygate Lane Faygate Horsham West Sussex RH12 4SJ Bankers National Westminster Bank Plc 77 High Street Goldaming Surrey GU7 1AR Solicitors DMH Stallard LLP 1st Floor Wonersh House The Guildway Old Portsmouth Road Guildford Surrey GU3 1LR

HONEYWOOD HOUSE NURSING HOME

CONTENTS

Page
Trustees' report 1 - 4
Statement of trustees' responsibilities 5
Independent auditor's report 6 - 9
Statement of financial activities 10
Balance sheet 11
Statement of cash flows 12
Notes to the financial statements 13 - 26

HONEYWOOD HOUSE NURSING HOME

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 JANUARY 2025

The trustees present their annual report and financial statements for the year ended 31 January 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Trust Deed, 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 (FRS 102) (effective 1 January 2019)".

Objectives and activities

The objectives of the charity, which have been applied during the year, are set out in the Trust Deed. Such objectives require the trustees to apply the property, Honeywood House, as a nursing home for the members of the public requiring long or short term care.

It is the overall philosophy of Honeywood House that each resident should be viewed as an individual with basic rights of privacy, dignity and respect. The aims of the nursing care are - to endeavour to provide a homely, caring, safe and tranquil environment - to implement and maintain a planned approach to nursing care where emphasis is placed on the promotion of independence wherever possible, but able to identify self-care deficits when they arise. It is the Home's responsibility to prepare and encourage genuine teamwork within this multi-disciplinary setting. Finally, the importance of maintaining a quality of living and all that can be done to help until life's end is recognised. The trustees are required to levy a charge for the provision of such services of an amount, which they in their absolute discretion consider fair and reasonable.

The accommodation is full board and welfare facilities such as a library, general shopping, hairdressing, chiropody, physiotherapy, visiting optician and dentist and personal laundry are provided. A communion service is held monthly. Musical entertainment, Pantomines, Magicians & animal Therapy is provided on a regular basis. A fulltime activity Co-Ordinator & her team are also employed to deliver activities & outings In-House daily.

Public benefit

The trustees have paid due regard to public benefit guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

The charity's philosophy of providing a high standard of nursing care and kind attention according to its objectives was continued throughout the year. This has enabled the Nursing Home to maintain an excellent reputation within the community.

The Home has continued it's registered membership with the Care Quality Commission (CQC), the National Care Homes Association (NCHA) and the West Sussex Partners in Care (WSPiC).

The Home continues its association with Citation and Quality Compliance System (QCS) with regard to policies and procedures for Health & Safety & Employment Law.

Staff are continually kept up to date on Health and Safety, Moving and Handling, Protection of Vulnerable Adults, Fire Safety, Wound Care, Infection Control, First Aid & Care of the Dying, Equality & Diversity, Diet & Nutrition, MCA & DOLS, Dementia, Medication and Data Protection & Governance. They receive tuition from professional trainers in-house and on-line training is available from Gateway, Laser and Citation e-courses. We continue to use Crawley College for Health & Social care training and all new Health Care Assistants complete the Care Certificate.

HONEYWOOD HOUSE NURSING HOME

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025

The trustees have ensured that Honeywood House continues to be maintained to the highest standard, and in the year to 31 January 2025 and in the forthcoming year, the nursing home continues to be upgraded and maintained inside and outside with various refurbishment having taken place last year. Bedrooms continue to be refurbished as they become vacant ready for new residents. The nursing home has re-instated 2 bedrooms bringing their capacity up to 27 giving an increased revenue to assist on going maintenance in the home. A new stand alone Laundry facility has been erected in the grounds to replace the redundant old laundry room.

The nursing home has improved its carbon footprint by planting more trees, replacing more windows with PVC double glazed units. Low energy lighting is being used in-house with solar energy lighting used externally. Menu changes have taken place to support our carbon footprint & the introduction of the in-house charity shop enables the nursing home to recycle clothes & other goods. Low heat touch electric heaters have been introduced to reduce oil usage.

Digital programmes have been introduced covering care plans & all records, audits etc to reduce use of paper.

Use of local suppliers supporting the local community & reducing travelling time & fuels.

The nursing home is now using Nourish Digital which is registered under the ICO for License & Data Protection to record all the resident's care, nursing procedures & medical files on. All the nursing home's Quality Assurance & Health & Safety documentation is also recorded on this system.

The nursing home has also invested in E Mar for the nursing staff to record all medication given plus it automatically audits the whole procedure & stock levels of medication.

The Nursing home is compliant with the National Data opt-out Policy also.

Current year achievements include:

There is an on-going refurbishment plan to continue in making the Home a better place with further works planned for the coming year.

Fundraising performance

Various fundraising events continue to help the running of the minibus and outings for our residents.

Financial review

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. Where the need arises for large capital expenditure, the trustees consider ways in which it can build up a surplus including seeking grants, and spreading costs over a period of time where possible.

Whilst during this accounting year reserves have depleted, this again is due to the high cost of maintenance upgrades required by law, and ever rising running costs and wages bills. However steps are being taken to reduce these costs with new suppliers sourced and new cheaper servicing contracts signed. With regard to energy costs, the possibility of solar panels to again reduce costs is being investigated, The Trustees are confident that reserves can be brought back to an acceptable level.

HONEYWOOD HOUSE NURSING HOME

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025

Principal funding sources

The total income receivable from residents amounts to £1,953,472 (2024- £1,854,067). Resident's occupancy numbers increased in the year.

The total expenditure in the year increased by 14.3% (2024 – 16.2% increase). Trustee, staff and agency cost account for 76% (2024 – 74.8%) of total charity expenditure. Food, provisions, medical and patient care consumables also account for 5.4% (2024 – 6%) of total charity expenditure.

The deficit for the year was £225,707 compared to a deficit in 2024 of £45,567.

At the balance sheet date, general funds held amounted to £24,371 (2024 - £250,078).

Major risks

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Factors likely to affect future financial performance

The trustees are continuing to explore possible options to develop a brownfield site within the grounds of the property in order to provide cash funds in the future. They are also in discussions with a company with the potential of using one of the fields for solar panels to reduce their carbon footprint further and their electricity bills.

Structure, governance and management

The charity is governed by its Trust Deed dated 1st December 1959.

The trustees who served during the year and up to the date of signature of the financial statements were: S M White (Resigned 12 September 2025) V A White (Resigned 30 September 2025) P R Johnson (Retired Policeman) I G Blackwell D White R Heath (Appointed 11 July 2025) S L Webb (Appointed 30 September 2025)

Recruitment and appointment of trustees

Appointment of trustees is governed by the Trust Deed. The board of trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee. Suitable candidates would be interviewed and a training course would be made available.

None of the trustees has any beneficial interest in the charity. All of the trustees are members of the charity and guarantee to contribute £1 in the event of a winding up.

The trustees of the charity are legally responsible for the overall management and control of the nursing home. The day to day running of the nursing home is delegated to the full-time registered manager Ivy Blackwell, and the general manager Sandra White, who are supported by fully trained nursing staff on duty 24 hours a day and domestic and maintenance staff. Weekly visits are made by a doctor and physiotherapist.

HONEYWOOD HOUSE NURSING HOME

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025

The trustees' report was approved by the Board of Trustees.

D White Trustee

22 October 2025

HONEYWOOD HOUSE NURSING HOME

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 JANUARY 2025

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

HONEYWOOD HOUSE NURSING HOME

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF HONEYWOOD HOUSE NURSING HOME

Opinion

We have audited the financial statements of Honeywood House Nursing Home (the ‘charity’) for the year ended 31 January 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

HONEYWOOD HOUSE NURSING HOME

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HONEYWOOD HOUSE NURSING HOME

Responsibilities 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 give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We identify and assess risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

HONEYWOOD HOUSE NURSING HOME

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HONEYWOOD HOUSE NURSING HOME

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the charity operates in. The key laws and regulations we considered in this context included the Care Quality Commission, Charities Act 2011, Charities SORP and employment legislation.

In addition we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charity's ability to operate or to avoid a material penalty.

As a result of performing the above, we did not identify any key matters related to the potential risk of fraud or noncompliance with laws and regulations.

Our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indication of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements 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 (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

HONEYWOOD HOUSE NURSING HOME

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HONEYWOOD HOUSE NURSING HOME

Matthew Cleghorn FCA BSc (Hons) (Senior Statutory Auditor)

For and on behalf of Anova, Statutory Auditor Chartered Accountants The Barn, Meadow Court Faygate Lane Faygate Horsham West Sussex RH12 4SJ 22 October 2025

Anova is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

HONEYWOOD HOUSE NURSING HOME

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JANUARY 2025

Unrestricted
Restricted Endowment
funds
funds
funds
2025
2025
2025
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
3,385
-
-
Charitable activities
4
1,953,472
-
-
Other trading activities
5
53
-
-
Investments
6
4,594
-
-
Other income
7
5,300
-
-
Total income
1,966,804
-
-
Expenditure on:
Raising funds
8
1,494,317
-
-
Charitable activities
10
698,194
-
-
Total expenditure
2,192,511
-
-
Net expenditure for the year/
Net movement in funds
(225,707)
-
-
Fund balances at 1 February 2024
250,078
1,400,000
1,000,000
Fund balances at 31 January 2025
24,371
1,400,000
1,000,000		 Total
Unrestricted
Restricted Endowment
funds
funds
funds
2025
2024
2024
2024
£
£
£
£
3,385
5,733
-
-
1,953,472
1,854,067
-
-
53
512
-
-
4,594
4,509
-
-
5,300
7,257
-
-
1,966,804
1,872,078
-
-
1,494,317
1,246,373
-
-
698,194
671,272
-
-
2,192,511
1,917,645
-
-
(225,707)
(45,567)
-
-
2,650,078
295,645
1,400,000
1,000,000
2,424,371
250,078
1,400,000
1,000,000		 Total
2024
£
5,733
1,854,067
512
4,509
7,257
1,872,078
1,246,373
671,272
1,917,645
(45,567)
2,695,645
2,650,078

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

HONEYWOOD HOUSE NURSING HOME

BALANCE SHEET

AS AT 31 JANUARY 2025

Notes
Fixed assets
Tangible assets
15
Current assets
Stocks
16
Debtors
17
Cash at bank and in hand
Creditors: amounts falling due within
one year
19
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
20
Net assets
The funds of the charity
Endowment funds
Restricted income funds
Unrestricted funds
23		 2025
£
£
2,577,828
2,358
75,436
293,148
370,942
(336,411)
34,531
2,612,359
(187,988)
2,424,371
1,000,000
1,400,000
24,371
2,424,371		 2024
£
£
2,502,255
2,573
49,269
352,402
404,244
(256,421)
147,823
2,650,078
-
2,650,078
1,000,000
1,400,000
250,078
2,650,078		 2024
£
£
2,502,255
2,573
49,269
352,402
404,244
(256,421)
147,823
2,650,078
-
2,650,078
1,000,000
1,400,000
250,078
2,650,078
2,650,078
-
2,650,078
1,000,000
1,400,000
250,078
2,650,078

The financial statements were approved by the trustees on 22 October 2025

D White Trustee

HONEYWOOD HOUSE NURSING HOME

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUARY 2025

2025
Notes
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
27
(130,635)
Investing activities
Purchase of tangible fixed assets
(128,946)
Investment income received
4,594
Net cash used in investing activities
(124,352)
Financing activities
Proceeds from new bank loans
200,000
Repayment of bank loans
(4,267)
Net cash generated from financing activities
195,733
Net (decrease)/increase in cash and cash
equivalents
(59,254)
Cash and cash equivalents at beginning of year
352,402
Cash and cash equivalents at end of year
293,148		 2024
£
(18,014)
4,509
-
-		 £
24,565
(13,505)
-
11,060
341,342
352,402

HONEYWOOD HOUSE NURSING HOME

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

1 Accounting policies

Charity information

Honeywood House Nursing Home is an unincorporated charity registered in England & Wales. The principal address is Rowhook, Horsham, West Sussex, RH12 3QD.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Trust Deed, 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 (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

The Trustees understand and believe that even though Honeywood has suffered a loss this year, this is mainly due to ongoing maintenance upgrades which are near to completion. Honeywood however has remained at full capacity throughout the Year and continues to provide excellent Nursing care to the local community.

As a result, at the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

HONEYWOOD HOUSE NURSING HOME

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025

1 Accounting policies

(Continued)

Assets for distribution are recognised only when distributed. Assets given for use by the charity are recognised when receivable. Stocks of undistributed donated goods are not valued for balance sheet purposes.

Nursing home accommodation fee income from residents are invoiced monthly in advance and give rise to deferred income as at the year end. These are recognised accordingly within these financials.

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.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings Held at valuation Fixtures and fittings 10% and 20% on cost

The charity has adopted a policy to revalue its freehold property at least every five years by a suitably qualified person, independent of Honeywood House Nursing Home with the most recent valuation carried out on 1 November 2021 by Barrett Corp Harrington.

As the asset is held at valuation rather than cost it has not been deemed necessary to depreciate the asset.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

HONEYWOOD HOUSE NURSING HOME

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025

1 Accounting policies

(Continued)

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Taxation

The charity is exempt from tax on its charitable activities.

HONEYWOOD HOUSE NURSING HOME

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025

1 Accounting policies

(Continued)

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the 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.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 3,385 5,733
Income from charitable activities
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Charitable activities
Income from residents 1,953,472 1,854,067

4 Income from charitable activities

HONEYWOOD HOUSE NURSING HOME

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025

5 Income from other trading activities

6
7
8		 Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Fundraising events
53
512
Income from investments
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Interest receivable
4,594
4,509
Other income
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Government grants
-
7,257
Other income
5,300
-
5,300
7,257
Raising funds
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Trading costs
Other trading activities (see note 9)
1,494,317
1,246,373
1,494,317
1,246,373		 Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Fundraising events
53
512
Income from investments
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Interest receivable
4,594
4,509
Other income
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Government grants
-
7,257
Other income
5,300
-
5,300
7,257
Raising funds
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Trading costs
Other trading activities (see note 9)
1,494,317
1,246,373
1,494,317
1,246,373
1,246,373

HONEYWOOD HOUSE NURSING HOME

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

9 Other trading activities

Other trading activities
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Opening stock 2,574 2,692
Purchases of food, provisions and medical goods 114,765 109,138
Closing stock (2,358) (2,574)
Staff costs 1,315,579 1,063,502
Laundry & cleaning 56,860 67,038
Newspapers, magazines etc. 2,450 148
Patient care consumables 4,447 6,429
1,494,317 1,246,373

10 Charitable activities

Agency staff salaries
Rates and water
Insurance
Light and heat
Sundries
Garden maintenance costs
Repairs and maintenance costs
Fire alarm and security costs
Subscriptions
Share of support costs (see note 11)
Share of governance costs (see note 11)		 Nursing
home
2025
£
178,472
13,186
16,967
62,564
1,220
8,961
64,067
2,990
8,331
356,758
291,451
49,985
698,194		 Nursing
home
2024
£
205,501
10,726
16,877
52,648
1,064
10,900
59,137
1,965
9,343
368,161
278,250
24,861
671,272

HONEYWOOD HOUSE NURSING HOME

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

11
Support costs
Trustees' remuneration,
social security and
pension
Depreciation
Motor expenses
Travelling expenses
Office costs
Entertainment
Bank and credit card
charges
Computer, website and
software costs
Staff related expenses
Advertising
Accountancy fees
Audit fees
Legal and professional
Other interest payable
Bad debts
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
171,812
-
53,373
-
2,211
-
10,236
-
18,586
-
9,299
-
2,277
-
3,721
-
5,625
-
3,405
-
10,906
-
-
9,799
-
33,942
-
6,194
-
50
291,451
49,985
291,451
49,985		 2025
£
171,812
53,373
2,211
10,236
18,586
9,299
2,277
3,721
5,625
3,405
10,906
9,799
33,942
6,194
50
341,436
341,436		 Support
costs
Governance
costs
£
£
165,046
-
48,599
-
1,920
-
11,764
-
15,492
-
11,450
-
521
-
4,454
-
5,317
-
3,320
-
10,367
-
-
4,620
-
20,241
-
-
-
-
278,250
24,861
278,250
24,861		 2024
£
165,046
48,599
1,920
11,764
15,492
11,450
521
4,454
5,317
3,320
10,367
4,620
20,241
-
-
303,111
303,111

Governance costs includes payments to the auditors of £9,799 (2024: £4,620) for audit fees and £10,906 (2024: £10,367) for other accountancy services.

12 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements 9,799 4,620
Depreciation of owned tangible fixed assets 53,373 48,599

HONEYWOOD HOUSE NURSING HOME

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025

13 Trustees

During the year, the following trustees received remuneration, social security and pension contributions as follows:

S M White - Remuneration
S M White - Social Security
S M White - Pension
I G Blackwell - Remuneration
I G Blackwell - Overtime
I G Blackwell - Social Security
I G Blackwell - Pension
D G White - Remuneration
D G White - Social Security
D G White - Pension		 2025
£
34,384
3,486
-
54,340
26,835
9,943
1,325
37,573
3,926
-
171,812		 2024
£
35,312
3,621
-
52,520
23,218
9,200
1,317
36,127
3,743
-
165,058

S White is employed by the charity as a General Manager and I Blackwell is employed as the Registered Manager. Permission to employ trustees to occupy these specific roles has been obtained from The Charity Commission in the past. Before awarding these roles a market salary benchmark review is carried out and other candidates are considered.

None of the trustees (or any persons connected with them) were paid or reimbursed expenses from the charity during the year.

HONEYWOOD HOUSE NURSING HOME

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025

14 Employees

Number of employees

The average monthly number of employees during the year was:

Support staff (excluding agency staff)
Trustee and management staff
Employment costs (excluding agency staff costs)
Wages and salaries
Social security costs
Other pension costs		 2025
Number
50
3
53
2025
£
1,336,565
128,945
21,882
1,487,392		 2024
Number
44
3
47
2024
£
1,111,314
96,779
20,455
1,228,548
The number of employees whose annual remuneration was £60,000 or more
were:
£70,000 - £79,999
£80,000 - £89,999
15
Tangible fixed assets
Freehold land
and buildings
£
Cost or valuation
At 1 February 2024
2,400,000
Additions
-
At 31 January 2025
2,400,000
Depreciation and impairment
At 1 February 2024
-
Depreciation charged in the year
-
At 31 January 2025
-
Carrying amount
At 31 January 2025
2,400,000
At 31 January 2024
2,400,000		 2025
Number
-
1
Fixtures and
fittings
£
536,915
128,946
665,861
434,660
53,373
488,033
177,828
102,255		 2024
Number
1
-
Total
£
2,936,915
128,946
3,065,861
434,660
53,373
488,033
2,577,828
2,502,255

HONEYWOOD HOUSE NURSING HOME

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025

15 Tangible fixed assets

(Continued)

Freehold land and buildings, with a carrying amount of £2,400,000, were valued as at 1 November 2021 by Andy Bates Cert CII of Barrett Corp Harrington, independent valuers not connected with the charity.

16 Stocks

Finished goods and goods for resale
17
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 2025
£
2,358
2025
£
48,751
6,935
19,750
75,436		 2024
£
2,573
2024
£
39,013
-
10,256
49,269

18 Loans and overdrafts

Loans and overdrafts
Bank loans
Payable within one year
Payable after one year		 2025
£
195,733
7,745
187,988		 2024
£
-
-
-

The long-term loans are secured by fixed charges over the property of Honeywood House, included in these accounts as freehold land and buildings.

19 Creditors: amounts falling due within one year

Notes
Bank loans
18
Other taxation and social security
Deferred income
21
Trade creditors
Other creditors
Accruals		 2025
£
7,745
51,247
98,934
48,408
14,974
115,103
336,411		 2024
£
-
38,935
97,753
33,472
19,778
66,483
256,421

The bank loan is secured over the freehold property.

HONEYWOOD HOUSE NURSING HOME

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

20
Creditors: amounts falling due after more than one year
Notes
Bank loans
18
21
Deferred income
Arising from residents income received in
advance
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 February 2024
Resources deferred in the year
Deferred income at 31 January 2025
22
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2025
£
187,988
2025
£
98,934
2025
£
98,934
97,753
1,181
98,934
2025
£
1,325		 2024
£
-
2024
£
97,753
2024
£
97,753
93,267
4,486
97,753
2024
£
1,317

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

23 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 February Incoming Resources At 31 January
2024 resources expended 2025
£ £ £ £
General funds 250,078 1,966,804 (2,192,511) 24,371

HONEYWOOD HOUSE NURSING HOME

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025

23 Unrestricted funds (Continued)
Previous year: At 1 February Incoming Resources At 31 January
2023 resources expended 2024
£ £ £ £
General funds 295,645 1,872,078 (1,917,645) 250,078

HONEYWOOD HOUSE NURSING HOME

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025

24
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Endowment
funds
2025
2025
2025
£
£
£
Fund balances at 31 January 2025 are represented
by:
Tangible assets
177,828
1,400,000
1,000,000
Current assets/(liabilities)
34,531
-
-
Long term liabilities
(187,988)
-
-
24,371
1,400,000
1,000,000		 Total Unrestricted
funds
Restricted
funds
Endowment
funds
2025
2024
2024
2024
£
£
£
£
2,577,828
102,255
1,400,000
1,000,000
34,531
147,823
-
-
(187,988)
-
-
-
2,424,371
250,078
1,400,000
1,000,000		 Total
2024
£
2,502,255
147,823
-
2,650,078

HONEYWOOD HOUSE NURSING HOME

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025

25 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2025
£
27,768
69,375
97,143		 2024
£
28,068
97,143
125,211

26 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

27 Cash (absorbed by)/generated from operations 2025 2024
£ £
Deficit for the year (225,707) (45,567)
Adjustments for:
Investment income recognised in statement of financial activities (4,594) (4,509)
Depreciation and impairment of tangible fixed assets 53,373 48,599
Movements in working capital:
Decrease in stocks 215 119
(Increase)/decrease in debtors (26,167) 7,719
Increase in creditors 71,064 13,718
Increase in deferred income 1,181 4,486
Cash (absorbed by)/generated from operations (130,635) 24,565
28 Analysis of changes in net funds
At 1 February Cash flows At 31 January
2024 2025
£ £ £
Cash at bank and in hand 352,402 (59,254) 293,148
Loans falling due within one year - (7,745) (7,745)
Loans falling due after more than one year - (187,988) (187,988)
352,402 (254,987) 97,415