Charity Number: 222486
## The Doctors Green and Slater Rest Houses
Report and financial statements For the year ended 31st October 2023
The Doctors Green and Slater Rest Houses
## Reference and administrative information
for the year ended 31st October 2023
**Charity number** 222486 **Registered office and operational address** Balmoral Road Heaton Moor Stockport SK4 4EA
**Trustees** Trustees who served during the year and up to the date of this report were as follows:
|Tim J Carlisle||
|---|---|
|Jenny M Lazarus||
|Gill Armitage|(Resigned November 2022)|
|David McHugh||
|Stella Green|(Resigned November 2022)|
|Frances McCann||
|Jane Barrett||
**Key management** Frances McCann, Chair of Trustees
## **personnel**
|**Bankers**|The Co-operative Bank|Santander|Santander|
|---|---|---|---|
||PO Box 250|Bootle||
||Delf House|Merseyside||
||Southway|L30 4GB||
||Skelmersdale|||
||WN8 6WT|||
|**Solicitors**|Towns Needham & Co|**Brokers**|Rathbone Greenbank Investments|
||Kingsgate||Port of Liverpool Building|
||2ndFloor||Pier Head|
||51/53 South King Street||Liverpool|
||Manchester||L3 1NW|
||M2 6DE|||
**Independent** Jennifer Daniel FCCA Slade & Cooper Limited **Examiners** Beehive Mill, Jersey Street, Ancoats, Manchester, M4 6JG
1
## The Doctors Green and Slater Rest Houses
## Trustees’ annual report
## for the year ended 31st October 2023
The charity is governed by a trust deed dated 21 January 1960. A board of Governors (who are the trustees of the charity) manages the unincorporated association which is registered with the Charity Commissioners, number 222486.
The trustees present their report and the audited financial statements for the year ended 31st October 2023.
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the charity’s trust deed and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
## **Objectives and activities**
The charity provides sheltered accommodation for older people who are able to live independently. They are eligible to apply for the accommodation if they have been living either in the County Borough of Stockport or within 5 miles of Stockport Town Hall for the ten years immediately preceding their application. Applicants fill in an application form and are interviewed by two trustees, who assess their needs according to the trust deed. Selection is made on the basis of this need, regardless of race, gender, religion, political affiliation or sexual orientation. If an applicant is considered to be suitable and there are no vacancies a waiting list is kept and updated regularly.
The trustees are aware of the Charity Commission guidance on Public Benefit and feel that the provision and maintenance of the sheltered accommodation described is of benefit to the public. Both trustees and the manager are concerned that all residents feel part of a mutually supportive community, and receive daily checks on their welfare.
The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.
## **Achievements and performance**
The charity's main activities and who it tries to help are described below. All its charitable activities focus on the housing scheme and its residents and are undertaken to further The Doctors Green and Slater Rest Houses’ charitable purposes for the public benefit.
During the year to 31 October 2023 the scheme has on average provided sheltered accommodation for twenty-five residents.
2
## The Doctors Green and Slater Rest Houses
## Trustees’ annual report
## for the year ended 31st October 2023
## **Operational developments:**
## Residents –
- On average there were 25 residents (beneficiaries of the charity) living at the scheme over 2022-2023. There are 23 flats in total, 6 small studio flats and 17 one-bedroom flats of various sizes. 21 of these were occupied for most of the year. One studio flat was held back to be used as a site office for the Development Project Contractors, and one was included in the development project for upgrading.
- All flats are connected to a 24/7 emergency call service that can be accessed by all residents when the manager is not on site.
- Two flats were vacated because the residents moved for family related reasons, and one was vacated because of age related difficulties, the resident was no longer able to live independently and moved to residential care. New residents were appointed from the waiting list.
- A small number of residents had accrued some debts in relation to their weekly Occupation Charge for their flats. By the end of October 2023 this underpayment matter had, for the large part, been resolved.
- In December 2022 the Annual Resident and Trustee Christmas meal was resumed and over the year residents were able to return to social activities after the restrictions required by the Covid Epidemic.
- Following requests from residents, a new large screen TV was installed in the communal lounge and the availability of the laundry was extended.
Building and estate maintenance and repair – The trustees and staff endeavor to maintain a high standard of repair and maintenance to the whole property, using the services of local trades persons and operators.
Building renewal and development. – In 2022 the Trustees decided on a large building renewal and development project and had appointed a firm of architects to enable them to do this. The main features of this were the conversion of the Warden’s (on-site) house into two flats, the enlargement of a ground floor studio flat into a one-bedroom flat, major roof work on most of the buildings as required following the quinquennial report, and the installation of solar panels.
The work was put out to tender, and a firm of contractors appointed in November 2022. The work commenced in May 2023 with a completion date anticipated in November 2023. This date needed to be extended to early 2024 because of complications in the re-roofing process, requiring a re scheduling of the re-roofing time-line.
Staffing – The Scheme manager, who had been the main employee of the charity, retired in September 2022. The Board had decided to take this opportunity to review the staffing structure and in summer 2022 had initiated a recruitment program for a Housing Manager and a Charity Administrator. The Charity Administrator started in post in October 2022. Unfortunately, recruitment was slow for the Housing Manager position and the Housing Manager did not start until January 2023.
Almshouses Association – The Charity’s membership of the umbrella organization that supports independent housing charities the Almshouse Association has continued to be a valued and much used resource by both trustees and staff.
CIO progress - The process of the change from being an Unincorporated Charitable Trust to being a Charitable Incorporated Organization continued throughout the year. This has involved working with the solicitor appointed and setting up a new bank account in the name of the CIO.
3
The Doctors Green and Slater Rest Houses
## Trustees’ annual report
## for the year ended 31st October 2023
## **Beneficiaries of our services**
The beneficiaries of our services are the residents who fulfil the criteria outlined above and as set out in the trust deed. Residents need to be capable of living independently.
During a difficult year three of our residents passed away, two residents moved into accommodation providing the level of care that they needed. Three new residents took up occupation of three of the vacant flats. The two remaining flats are part of the refurbishment project.
As the COVID restrictions were reduced residents began to resume some of the activities they had previously enjoyed together, such as games mornings and barbecues.
Residents are contacted daily to check on their welfare, outside of working hours this service continues with an out-of-hours call service.
## **Financial review**
The trustees confirm that the restricted and unrestricted funds are available and adequate to fulfil the obligations of the charity.
The charity’s investments show a satisfactory return. The income derived from investing the trust fund is used to pay for the services of the Housing Manager, the Charity Administrator, an out of hours cover service, and to subsidise the weekly occupation charge made to residents. The trustees are also committed to a rolling programme of refurbishment and maintenance of the scheme buildings and site (see elsewhere in the report). The trustees apply the income in administering, managing and maintaining the Rest Houses. They are also responsible for insuring the property against fire and other risks, and paying all other outgoings, salaries and expenses in respect of the property. The trustees have the bulk of our investments to various ethical investment funds in line with our overall aims and objectives.
There are no uncertainties regarding the charity’s ability to continue, as a going concern.
The financial statements disclose net incoming resources of £32,442 (net incoming resources of £8,885 in 2022).
Further, unrestricted funds amounted to £3,479,053 with free reserves of £2,574.827. Of this figure £2,181,927 is money held by the investment brokers, with £392,900 remaining for the Trustees to fulfil their refurbishment intentions and leave adequate working capital.
Restricted funds are designated for expending on extraordinary repairs and at the year end amounted to £243,595 (£496,005 in 2022).
There are no uncertainties regarding the charity’s ability to continue, as a going concern.
## **Reserves policy**
Our principal responsibility is for the long term housing of elderly people. Because of the vulnerable nature of our residents we recognise that we have responsibility to provide a safe financial environment in which to operate. We believe it is prudent to retain one year’s operating costs as a minimum, although this is mitigated somewhat by the occupation charges made to residents. Our property was built in the 1960s, when one bed studio flats were quite acceptable to our target residents. In order to ensure the acceptability of our accommodation in the foreseeable future, we believe a more substantial amount would be needed for any future building project designed to improve the standard of
4
## The Doctors Green and Slater Rest Houses
## Trustees’ annual report
## for the year ended 31st October 2023
accommodation. Until such projects are agreed we would need to hold in reserve an additional sum of £150,000 which would be released if and when further development takes place.
## **Structure, governance and management**
The statutory power of appointing new or additional trustees is governed by the trust deed, which states that no person shall be qualified to be appointed unless he or she shall at the date of appointment be a member of the Quaker meetings (The Religious Society of Friends) and any interested Quaker is invited to a meeting of the existing trustees. If they are willing to go forward their appointment is confirmed at a subsequent meeting. There are on average six trustees in post at any one time. All trustees are encouraged to attend training sessions on topics relevant to their duties and are given a copy of the original trust deed. There is no formal constitution apart from this trust deed.
No external body is entitled to appoint a trustee to then scheme.
The organisation is an unincorporated charity, registered as a charity on 21[st] January 1960 in England and Wales.
The charity is constituted under a trust deed dated 21[st] January 1960. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
We are very grateful to the Trustees who give their time and knowledge voluntarily to the Charity.
The Charity has membership of The Almshouse Association acting as an umbrella organisation supporting small charitable trusts who provide housing to people in need. The Almshouse Association provides valuable guidance to the Charity, the Trustees and Staff.
The Charity Administrator took up post at the end of October and recruitment for the post of Housing Manager is progressing.
All trustees give their time voluntarily and receive no benefits from the charity. No trustee expenses were claimed in this year.
## **Funds held as custodian trustee on behalf of others**
The charity does not act as custodian trustee for any other organisation.
5
## The Doctors Green and Slater Rest Houses
## Trustees’ annual report
## for the year ended 31st October 2023
## **Statement of responsibilities of the trustees**
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 charity's financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:
- Select suitable accounting policies and then apply them consistently
- Observe the methods and principles in the Charities SORP
- Make judgements and estimates that are reasonable and prudent
- State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping proper 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. 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The trustees’ annual report has been approved by the trustees on 14/08/2024 and signed on their behalf by Frances McCann
Trustee
6
## Independent Examiner’s Report
## To the members of
## The Doctors Green and Slater Rest Houses
I report on the accounts of the Charity for the year ended 31[st] October 2023 which are set out on pages 8 to 22.
## **Respective responsibilities of trustees and examiner**
The charity’s trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In the course of my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Jennifer Daniel FCCA Slade & Cooper Ltd. Beehive Mill Jersey St Ancoats Manchester M4 6JG
24[th] September 2024
7
## Drs Green & Slater Rest Houses
## Statement of Financial Activities
## for the year ended 31 October 2023
|Unrestricted
funds
Note
£
**Income from:**
Charitable activities:
3
131,716
Investments
4
74,002
**Total income**
**205,718**
**Expenditure on:**
Raising funds
5
18,628
Charitable activities:
6
154,648
**Total expenditure**
**173,276**
32,442
-
(2,910)
7
**29,532**
Transfer between funds
250,000
**Net movement in funds for the year**
**279,532**
**Reconciliation of funds**
Total funds brought forward
3,199,522
**Total funds carried forward**
**3,479,054**
**Net income/(expenditure)**
**before net gains/(losses) on**
**investments**
Realised gains/(losses) on investments
Unrealised gains/(losses) on investments
**Net income/(expenditure) for**
**the year**|Restricted
funds
£
-
-
**-**
-
-
**-**
-
-
(2,410)
**(2,410)**
(250,000)
**(252,410)**
496,005
**243,595**|Total funds
2023
£
131,716
74,002
**205,718**
18,628
154,648
**173,276**
32,442
-
(5,320)
**27,122**
-
**27,122**
3,695,527
**3,722,649**|_Total funds_
_2022_
_£_
_119,755_
_62,064_
**_181,819_**
_19,186_
_153,748_
**_172,934_**
_8,885_
_-_
_(630,323)_
**_(621,438)_**
_-_
**_(621,438)_**
_4,316,965_
**_3,695,527_**|
|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
8
## Drs Green & Slater Rest Houses
## Balance Sheet as at 31 October 2023
**----- Start of picture text -----**
Note 2023 2022
£ £ £ £
Fixed assets
Tangible assets 11 904,226 685,720
Investments 12 2,425,523 2,694,578
Total fixed assets 3,329,749 3,380,298
Current assets
Debtors 13 47,213 8,924
Cash at bank and in hand 355,098 333,416
Total current assets 402,311 342,340
Liabilities
Creditors: amounts falling
due in less than one year 14 (9,411) (27,111)
Net current assets 392,900 315,229
Net assets 3,722,649 3,695,527
Funds of the charity:
Restricted income funds 15 243,595 496,005
Unrestricted income funds 16 3,479,054 3,199,522
Total charity funds 3,722,649 3,695,527
**----- End of picture text -----**
The notes on pages 11 to 22 form part of these accounts.
Approved by the trustees on 14/08/2024 and signed on their behalf by:
Frances McCann (Trustee)
9
Drs Green & Slater Rest Houses
Statement of Cash Flows for the year ending 31 October 2023
|Note
**Cash provided by/(used in) operating activities**
18
_Cash flows from investing activities:_
Dividends, interest, and rents from investments
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
**Cash provided by/(used in) investing activities**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
Increase/(decrease) in cash and cash
equivalents in the year|2023
£
**(87,488)**
74,002
(228,567)
281,885
(18,150)
**109,170**
21,682
333,416
**355,098**|_2022_
_£_
**_(51,960)_**
_62,064_
_(25,364)_
_67,339_
_-_
**_104,039_**
_52,079_
_281,337_
**_333,416_**|
|---|---|---|
10
Drs Green & Slater Rest Houses
Notes to the accounts for the year ended 31 October 2023
## **1 Accounting policies**
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **a Basis of preparation**
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 (FRS 102), second edition - October 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The accounts (financial statements) have been prepared to give a 'true and fair view' and 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 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), second edition - October 2019, rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Drs Green & Slater Rest Houses meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
## **b Preparation of the accounts on a going concern basis**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
There are no key judgments which the trustees have made which have a significant effect on the accounts.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.
11
Drs Green & Slater Rest Houses
Notes to the accounts for the year ended 31 October 2023 (continued)
## **c Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
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 charity 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. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.
Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.
## **d 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), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.
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.
## **e Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
12
Drs Green & Slater Rest Houses
## Notes to the accounts for the year ended 31 October 2023 (continued)
## **f Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
## **g Expenditure and irrecoverable VAT**
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. Expenditure is classified under the following activity headings:
- Costs of raising funds comprise the costs of investment management and their associated support costs.
- Expenditure on charitable activities includes the costs undertaken to further the purposes of the charity and their associated support costs.
- Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **h Operating leases**
Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.
## **i Tangible fixed assets**
Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:
Freehold building Office fixtures and equipment
1.0% - 1.5% on cost 20% on cost
13
Drs Green & Slater Rest Houses
Notes to the accounts for the year ended 31 October 2023 (continued)
## **j Fixed asset investments**
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
The Charity does not acquire put options, derivatives or other complex financial instruments.
The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.
## **k 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.
## **l Cash at bank and in hand**
Cash at bank and cash 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.
## **m Creditors and provisions**
Creditors and provisions 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **n Financial instruments**
The charity only has financial assets and financial 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
14
Drs Green & Slater Rest Houses
## Notes to the accounts for the year ended 31 October 2023 (continued)
## **o Pensions**
Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 8. There were no outstanding contributions at the year end.
## **2 Legal status of the charity**
The charity is an unincorporated charity, registered as a charity in England & Wales.
## **3 Income from charitable activities**
|Residents' Fees
Other income
**Total**
_Total by fund 31 October 2022_|Unrestricted
£
131,613
103
131,716
_119,755_|Restricted
£
-
-
-
_-_|Total 2023
£
131,613
103
131,716
119,755|_Total 2022_
_£_
_119,755_
_-_
_119,755_|
|---|---|---|---|---|
15
Drs Green & Slater Rest Houses
## Notes to the accounts for the year ended 31 October 2023 (continued)
## **4 Investment income**
|Income from bank deposits
Dividends received|Total 2023
£
166
73,836
74,002|_Total 2022_
_£_
_22_
_62,042_
_62,064_|
|---|---|---|
All of the charity's investment income arises from interest in interest bearing deposit accounts and dividends from other fixed investments.
## **5 Cost of raising funds**
|2023
£
Investment management costs
18,628
18,628
All expenditure on cost of raising funds is unrestricted.|_2022_
_£_
_19,186_
19,186|
|---|---|
## **6 Analysis of expenditure on charitable activities**
|Staff costs
Premises
Administration
Depreciation
Project Costs
Governance costs-
Independent
Examiner's Fee|Total 2023
£
35,439
84,307
9,617
10,061
14,284
940
154,648|_Total 2022_
_26,170_
_83,599_
_19,278_
_10,484_
_13,277_
_940_
153,748|
|---|---|---|
16
Drs Green & Slater Rest Houses
## Notes to the accounts for the year ended 31 October 2023 (continued)
## **7 Net income/(expenditure) for the year**
|This is stated after charging/(crediting):
Depreciation
**Staff costs**
Staff costs during the year were as follows:
Wages and salaries
HR Consultancy
Recruitment
Independent examiner's fees|2023
£
10,061
940
2023
£
31,482
1,692
1,980
35,154|_2022_
_£_
10,484
940
_2022_
_£_
_17,420_
_8,750_
_17,420_|
|---|---|---|
## **8 Staff costs**
No employee has employee benefits in excess of £60,000 (2022: Nil).
The average number of staff employed during the period was 2 (2022: 1) The average full time equivalent number of staff employed during the period was 1.5 (2022: 1).
The key management personnel of the charity comprise the trustees and the Scheme Manager. The total employee benefits of the key management personnel of the charity were £20,388 (2022: 26,420).
## **9 Trustee remuneration and expenses, and related party transactions**
Neither the management committee nor any persons connected with them received any remuneration or reimbursed expenses during the year (2022: £500).
No members of the management committee received travel and subsistence expenses during the year (2022: £0).
There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.
The daughter of the Chair of Trustees was acting in an occasional admin role and received a total remuneration of £534 during the year (2022: £1,973)
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2022: nil).
17
Drs Green & Slater Rest Houses
Notes to the accounts for the year ended 31 October 2023 (continued)
## **10 Corporation tax**
The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
## **11 Fixed assets: tangible assets**
|**Cost**
Additions
Disposals
**Depreciation**
Charge for the year
Disposals
**Net book value**
At 1 November 2022
At 31 October 2023
At 1 November 2022
At 31 October 2023
At 31 October 2023
_At 31 October 2022_|Freehold
Property
£
836,732
228,567
-
1,065,299
159,480
8,367
-
167,847
897,452
_677,252_|Furniture &
equipment
£
64,133
-
-
64,133
55,665
1,694
-
57,359
6,774
_8,468_|£
900,865
228,567
-
1,129,432
215,145
10,061
-
225,206
904,226
_685,720_
Total|
|---|---|---|---|
18
Drs Green & Slater Rest Houses
## Notes to the accounts for the year ended 31 October 2023 (continued)
## **12 Investments**
|Add: additions to investments at cost
Disposals at carrying value
Add net gain/(loss) on revaluation
Market value at the end of the year
Market value at the start of the year|2023
£
2,694,578
18,150
(281,885)
(5,320)
2,425,523|_2022_
_£_
_3,392,240_
_-_
_(67,339)_
_(630,323)_
_2,694,578_|
|---|---|---|
Investments are all carried at fair value and are all traded in quoted public markets.
## **13 Debtors**
|Residents' Fees due
Prepayments and accrued income|2023
£
-
47,213
47,213|_2022_
_£_
_2,426_
_6,498_
_8,924_|
|---|---|---|
## **14 Creditors: amounts falling due within one year**
|Trade creditors
Residents' Fees Overpaid
Other creditors and accruals|2023
£
4,180
1,683
3,548
9,411|_2022_
_£_
_24,541_
_2,570_
_27,111_|
|---|---|---|
19
Drs Green & Slater Rest Houses
## Notes to the accounts for the year ended 31 October 2023 (continued)
## **15 Analysis of movements in restricted funds**
|Balance at
1
November
2022
£
**Extraordinary Repairs Fund**
496,005
_Balance at_
_1st Nov_
_2021_
_£_
**_Extraordinary Repairs Fund_**
_546,557_
**_Previous reporting_**
**_period_**
Extraordinary
Repairs Fund
_Extraordinary_
_Repairs Fund_|Income
£
-
_Income_
_£_
_-_|Expenditure
£
(2,410)
_Expenditure_
_£_
_(50,552)_|Transfers
£
(250,000)
_Transfers_
_£_
_-_|Balance at
31 October
2023
£
243,595
_Balance at_
_31 October_
_2022_
_£_
_496,005_|
|---|---|---|---|---|
The fund was set up in 1971 by order of the Charity Commissioners. Any investments standing to the credit of the fund which have derived from income may be applied from time to time for the extraordinary repair, improvement or rebuilding of the Rest Houses belonging to the Charity.
The fund balance is represented entirely by investments.
20
Drs Green & Slater Rest Houses
## Notes to the accounts for the year ended 31 October 2023 (continued)
## **16 Analysis of movement in unrestricted funds**
|General fund
**_Previous reporting_**
**_period_**
**Name of**
General fund
_General fund_|Balance at
1
November
2022
Income
Expenditure
Transfers
£
£
£
£
3,199,522
205,718
(176,186)
250,000
3,199,522
205,718
(176,186)
250,000
_Balance_
_at 1 Nov_
_2021_
_Income_
_Expenditure_
_Transfers_
_£_
_£_
_£_
_£_
_3,770,408_
_181,819_
_(752,705)_
_-_
_3,770,408_
_181,819_
_(752,705)_
_-_
**Description, nature and purposes of the fund**
The free reserves after allowing for all designated funds|As at 31
October
2023
£
3,479,054
3,479,054
_As at 31_
_October_
_2022_
_£_
_3,199,522_
_3,199,522_|
|---|---|---|
## **17 Analysis of net assets between funds**
|Tangible fixed assets
Fixed asset investments
Other net current assets/(liabilities)
Total|General
fund
£
904,226
2,182,194
392,900
3,479,320|Designated
funds
£
-
-
-
-|Restricted
funds
£
-
243,329
-
243,329|Total
£
904,226
2,425,523
392,900
3,722,649|
|---|---|---|---|---|
21
Drs Green & Slater Rest Houses
## Notes to the accounts for the year ended 31 October 2023 (continued)
## **18 Reconciliation of net movement in funds to net cash flow from operating activities**
|**Net income/(expenditure) for the year**
**Adjustments for:**
Depreciation charge
(Gains)/losses on investments
Dividends, interest and rents from investments
Decrease/(increase) in debtors
Increase/(decrease) in creditors
**Net cash provided by/(used in) operating**|2023
£
27,122
10,061
5,320
(74,002)
(38,289)
(17,700)
(87,488)|_2022_
_£_
_(621,438)_
_10,484_
_630,323_
_(62,064)_
_(1,703)_
_(7,562)_
(51,960)|
|---|---|---|
22