Charrty reglstratlon number 223262 Company reglstratlon number 00482334 {England and Walesl EOTHEN HOMES LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 EOTHEN HOMES LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr l D TI￿son Professof A Thcrfnas DrA Van Den Bo8 Dr S Mishreki Mr A Mcllhinr Ms M Erny K4s L Marsh ChS•f Executive Mrs J M Heart Company Secretary Mrs B Wlson Charlty number 223262 Company number 00482334 Rggtstored office IS 8errym￿?r C￿rt Northumbertand Busiress P Cramlingt Northumbert¥AI England NE23 7RZ Auditor Rob8M L•(IlerAccwntants Limited Felnwc￿o Roay Jesmond Newcastle UFM)n Ty Tyne and Er￿j1￿d NE2 1TJ Bankers Barday5 Bank Pk Jfove Newcaslle Wesl Group Ne•thrastle urA)n Tyne EOTHEN HOMES LIMITED CONTENTS Page Trustees. report Inde￿dent tepK)rt 9-11 Statement of financia a¢b'v￿.es 12 Balance sheet 13 Slatement of cash fkAvs 14 Notes lo the fin￿la4 statements 1s-22 EOTHEN HOMES LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR fHE YEAR ENDED 31 MARCH 2024 The IrLL8tees present the* annual fe￿ a￿1 fi￿n[JaI slalements for the year ended 31 2024 The financial sialements have been prepared in xcordance wth accounting p￿IC￿5 Set out in note 1 to Ihe financial statement5 and comFAy with the charity'5 9)vemirg dLument. the Companies Act 2[￿6 and ' Accounting and Reporting by Challties. Statefftent of Recommended Pra¢l¢ce app￿ca￿e to Char￿"e$ yeparing Eheir accounts in accordance with the Finamal Reportsng Stsndard ap￿1¢a￿46 in the UK Repubknc ot Sr8Sand IFRS 1021 leffeclive 1 January 20191. Oblectlves and activities Ethos, values. alms and oblectlves Eolhen Howne5 is a respected and trusted well-est*Yished christi￿ tharity founded in 1950 The Charty's objects I'the O*eas") are io provide cAre for elderty ￿lSOn5. wthin a Chrisban framework and ethos. Our aim 15 to provide quality re￿dential care and supwrt. showing compassion and underslanthng. and provKJing a homdy eD¥ironmenl th safe, quality accommodabon ￿ wllch res￿$ are treated wlh dwjnity and respecl. Care provided is flexible and ￿l¥￿￿alIsed to meet phYs￿al. emolKsnal, spN"rilual and scKial needs Rèsidents are encouraged to live life to the full. and enjoy a lifestyle based on person's akn"lilies, interests ￿ life his10ry. We regard our wnployees as wr grealest asset and base reewitmenl on i)Uf values to ensu￿ we empby those who genuinely care. We continually Invest In Ifaining and profeS￿Onal development lo ensure staff are experienced, d8dicat•d skilled. Our Values Empathy. We wm lo understand other r¢ople's eXpene￿ and 4¥hat is impc*tant lo them, showing Christi commilmenl. compasston. love ￿ kindness Openness.. We w￿1 eoen Ouf do)rs and our he¥ts. be apwoa(*thle. xcept others ahyays IL8len to feed￿k. TrLSStworthiness.' We wll act integrity tr￿sparenCY in everything we do and wowde a safe and secL environment Honesty. We VAII work together to act truthfijlty and kyomote cpen and FwJne8t communication. Equality". ￿￿11 treat everyone vthh respect and courtesy, promots"r4J Iw and indusÈve practice Murturing We will value and respecl everyone. ueating a sense of belonging in a caring, safe ar￿ happy environment vthere peop￿ are suprx)rted lo ¥hieve their full potential. Oblo¢tlv•s for the year ending 31st March 2024 P4ome Managers lo ensure high starKJards are achieved and mainlwned and ts care wovided is lexI￿e to meet the Increasing Needs. expe&a¢ions arKI demands of our reS￿￿ts and their famI5￿S Resident dependency and cupancy will be cthbnually monilored alongside the slaffirvJ rats"o ￿lch will be inc*eased or decreased as required to ensu￿ appropriate levels of staff are mamla'r￿d. To achieve g¢*)d ¢XcUpa￿Y to increase the forecast surplus. wll 5UPPXXt cash reseryes and boost the maintenance fund lo either rwnvest in cyjr e￿Str￿9 hLYne5 of a new deve1Ly￿nt. Trustees to consider a new investment strategy lo increase the relwn cfft fvnds hdd. Devdop a refurbishment progfam, a locus on wr Goslorth home n Ihe year ahe￿. Refreth"ng the décor and updating some ol the furnilure, earpei anL1 cUrta￿S Furiher investsnent lo be pk4nned for the gardens al all hDme$ io provide a more vaned and 5bmulthry t**we Ihe re5KlenlS are more Invc4ved and have ow)rtunrfties to share ideas and hdp out. $18ff pay and iesidenl fees lo be reviewed for the year *ad. taking into xcwnl any ircrease In the Real Livin9 Wage snd any ￿41t￿nal staff employed The increasing cost of luel. utilty and food costs aThY any polential Ilsks caused by inlernalicAvl ctxflict wll also be laken into accojnl. In some cases the slaffhe51(lert falK• al one or all ol Momes will need lo be Increased for [￿dentS wth higher dependency. EOTHEN HOMES LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Objectives for the year Icont. Research an declrollic cafe home management system wFMch is CLYn￿￿?￿l with our existing payiol system to streamline iesidenl, staff, duty rotss and holNJay records To employ a senior activity person to Cfyordinaie events over al threè homes rèview activity provision ￿th consideratK)n given lo Increasing th'tses arKI events and p￿￿de more areas of Interest arouTrJ the homes. staff 81 our demenlra IK¢me to partI.¢￿ale in 'Under Our Wng l)esFoke Ir8inirvJ that ertapsulales the butterfly model of care. Succession planning to be consklered due to plarw*d rekn"rwwit of key head office personn81 in the nexl 2- 5 years. Strategies employed to achieve objectives The Iru51ee8 and senioT management team continue lo rewew the perfomiance of the chaiity and pLgn for the future. we aim lo ensure the organisalion is se￿Ie aThJ able lo develop, whilst remaining 8 manageable &'ze. $0 that quality of care 1$ ￿t compromtsed and the charity's aims, 0tr4'erttvès and value5 continue to be m8t. E¢lhen currenlty has the Ca￿llY lo provth 24 hour person cenlered care and suppjrt for 135 indNidua15, 71 resKJenlial care, and 64 specialist dementia cale (￿r homes are k)cated at Gosforth ￿lIleY Bay and Wallsend and are purpose buiA. Our speualist facility al Wdllsend provKJes Small scale trK)usth￿d Imng u51ry the 'burteffly model ol ¢are', designed lo prowde treedom and th0￿ for those living wlh denwlia off8r full a￿1 Var￿ xtivrty pwammes whKh ar8 ￿19n￿d ￿ our Ethos Values and we enwloy activity co-ordinators at our homes lo ensure that we prowde Christian Idlowship and Pastoral SuppKJrt to meet the needs ol each individual We have good relationships wth local uThvers1th'es. col*ges and sctrK)ds. ￿ offer work exFerience and studenl nurse placements. along wrth nursery schcol children who are also regular wsilors. aim f¢y our resi<*nts to &ve al E0t￿ as bng as FKJsgble. w(wknng wlh hearth care professimals to provid8 end of life care an¢Y full support Ity brAh the residents and Ihetr families Respite care is provided ff rr￿nS are available. as well as day care for those In the community may be londy and need extra support. We are committed lo staff training and development facilitated by a full lime Training and Developynenl managei who ensures ¢omplian¢e h￿th mandatory and t*$poke training. Our staff receive training specifically regarding Iheif home and residents ¥th￿h enables us to piowde consistent standards and be more fesrK)nsive to indiv￿u*l training needs. Staff wll be encouraged to participate in researth ￿t￿t￿S and to have a greater unders&￿dIr0 of how life in care homes can be Improved for resiaenls. rdalNes and staff Ow value5 afid Chiislian EtrKJS are ￿b￿ld￿j in staff an(J trairlng Managets wll ensure that staff are well supported Ihrough regular observations. supervlsion art appraisals We proV￿e extra staff lo cover 5￿knesS absenc6, hotidays aTha stsff vacanot$ with th9 aim of dwninakn.ng th¢ use of agen¢y staff. fvlanagers will prornote Eothen and continue lo nets¥ork in their local community lo increase awareness of the chanty. a5 well as devebgng ways lo attract residents and staff, including effective and well placed marketing and advert15ing. EOTHEN HOMES LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievement and perfomiance Charrtable activltl88 Our Ghrislhan Ethos and Wdlues c(*ilinw to be emt>edded ItKwgFwul ts Lyganisabon and we have received excellent leedbxk and scores on cweh¢yne.co L* ￿b5rte. IA* (L)nbnue to aim for excellerKe Ihr¢)ughoul. A good kvel of occupancy has been achieved al all trN)mes *KI have h&1 a steady Stre￿ of enquiries and each home has pro￿￿ed a 5ufj4us. Newcasye Local Alrt￿Yfy fe8 rat8s have irhcreased and surpassed our private fee charge bthich has not prewousty be8n expenenced. W8 werè successful in obtaining a grant for dyrtalBir¥J SOCI￿ caTe fr¢￿ NHS. ￿1ving £24.CW whth wll fu￿1 the initial implemenlalion ￿$t of Co(Acare. the eknlronK care management system Recruiimenl relentK>n issues have improved as staff pay was iwea8ed durir#J Ihe year and our hourfy pay rates ale well above ttte Real LtwirrtJ ￿ge. The aim is lo slay ahead ol OLX comFetilors and rewaid our exisliTra staff for Iheif hard work and ccmmitmenl We ako intrr*Juced a 'Refer a Fil￿d Scherne arK4 employed a dedicated recruitment officer Staff Iufnover has reduced SI￿h11Y from previous year ano we have emFloyed a to181 of 4 new employees. We continue lo offer goc*J terms arKI c4xvjit1￿S of ￿T￿loYment, traIn￿ll ¢pportunrtie5, personal development and career progres810n. We created a new proje¢t CO.￿￿nal0r rde to plan and oversee rxeventative mainlen8rce refurbishment projects Wndows haye been replaced ￿ the Soulh elevat￿ of OLsr ￿￿e in Cyjsltjrth and we have repkGed the fire pands in homes. Patso dc¥)rs were fitted in ts bJLrye at IAthittey Bay usmg thjnds frLYn a donats"on. We successfully recruited a Sen1￿ actNibes ciwrdinalor th) is working belween all three homes and has made a )silive difference our residents, organising speoal events. whKh have b8en shared swal media wilh regular appearances on local and natK*n* le￿Is1on news and radio. The CQC have carried out Inspect￿ at Ihèllsend. 8chievir¥J an rth'rYJ of gX¥J and an oulstsnding rating for 'Well Led,. with sY)od cac ratings at the other homes. atthwgh they have nol inspected sincfi th8 pandemK. We have also maintav*d ￿ade 5 wth EnViroMen￿ Heallh and grade 1 ￿th Local Authorities. Our Training 8fKI DeveloprrÉnl Manager ￿nts'n￿S lo deveknp our iesearch PNtrol￿* arx1 we have been involved with four research projecis In 2023. DACHA- DeVelo￿ng resources and minimum data set for care homes, FINCH Falls in care homes. SONNET lunder ENRICH) - IKJking at soua Connectic￿ and our largest proieel is wth Creating Care Partnerships. which ha5 been ongoing since Apnl 2022 Our partnership is named Care & Research North East and we are vlothing wtth Ne•vca5Ve Unwersily surpjt.ng research in adult soryal care lo improve practice aTrJ outCLKnes pecple uyrvJ we seryices. The AFRI-¢ Air Filler study. has been gathering dats for the wnler per￿ Sept 23 to May 24. on whether 4ÉPA air filters can reiluce Symplomatsc winter iespiratw Infeth.￿S (coughs. colds. flu COVID -19> In care home residents. A new Home Manager was empw at Gosltrih IK)me ￿ Jl￿. All rnanag¥s have b88n enga9ed in our research PToiects and have re¢entty developed a vMJeo Io Provide lee(Jb¥k from the first year of research which looked al wearing uniforms in care Iwjmes. Two of our homes V￿re also piesenled %Mth awards by North Tyneside Local AuthorFty for managing resKlents changirKJ care twls. EOTHEN HOMES LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Key performance indicator& Occu￿¢y- aim for good OCCL¥)arq at al knes aTrJ measure aclual o￿l4)sneY again61 lorecasl for year, klual tolal oc¢up￿Y for Ihe year was 95% which is just urKlef the forècast of 96%. F￿anc￿l surF4u5- aim to achieve a cash SLKF4us for exh home Re8idenl & RelatNe ￿.$1￿￿.￿ . We aim to 8chwe a customer satisf￿t￿ score in excess eo%. In 2Ct23 we achteved 92 4°h. ￿lch is (kjwn by 6.9% on Ihe p¥ew"ous year Results se8m lo hav8 b8en afected ty pandemic visiting restrithons. Feedback and reviews can te found on wvM.carehome.co uk. Our group rating is 9.8. and we continue lo be one of tfve lop 20 small cale home groups in the UK We have iecewed sorne outstanding comments for I homes. Employee s*isfacl1￿ - ￿ aim lo ad¥eve ￿ ovefall staff Sa￿'Sf*1on rate from annual que5tr'onnair81 of over 80qA. In 2023, the res￿lS shthved 95% sabsfath"on. Publlc 8enefit In s¢lling wr obpctpies and plannirrfJ OUT activities. the Trustees have gNen carefvl consideratt)n to Ihe Chanty Commission's general guidance on Wb1￿ benefit and are confident Ihat Eothen can continue lo meet the puijic benefi't now and into the fijture in the fotlo*irYJ ways". PrDviding care and a¢commodth"on for al. IAÈ accept those who are fully seW-fmJed and those who are ￿rts"allY or fulty subsith'sed by other moan$. $(th as the bc81 aU￿rity Ihe NHS. ￿lch provides conlinLMng health cafe. R￿Idents pay an economic fee for their care. Some ol may be partially ¢y lully payable by a IC￿al authonty. Ai Wdllsend the local authorrty fee rale 1$ substantialty l(Y•ver than the cost ol care a Ihwd paty lop up is requested for Local AUth￿ty ful￿ed re￿dentS to help IxKlge Ihe gap. Our Etho$ is one ol tr￿U￿On ano in pwtical lemis are committ8d lo equality divefsty. welcoming residents and staff from different backgrounds and conmnunitses. Residents afe encoLnged lo jc*n in ath'vrties in the homes and. where able. in the local communrty. whe¥e each ¥)dividual can maintain his or her o¥dn Inlefest5 and larth. We are approveLI lo provide placements fr)r st¥Jdenl llLW5es from N(xtrwmbria UnNersty and Wofk experierte for health and social care students from bcal cdleges. Students are able to participate and expèrience goc)d qualrty care of the el(Jerly can leam aTrJ develop thlls and knowledge lo benefit ltt￿r fvture careers in the care sector. We are aclivety involved in various projects wlhm 50ual care, sh8ring kn￿edge. participalry in Inals and wotkir%J vilh other providers lo improve care of okler pecyle ar¥J those INing demenba Eolhen Homes c&)es nol activety ra￿e fur%Js are welctyne ar*J are used direcoy for lh8 benelrt ol our resident$, usually tr aelivity equipment. gwt1en f(rniture or speafic pyoiects. EOTHEN HOMES LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial Review Rtrs•rvM pollcy The trustees have consK1e￿d the level of reserves shwld be maintained by the charity ￿ this is review8d I board meelir¥Js. Resefves may be needed to cov￿ l￿expeCted shortfalls In charitable income and other contingencies Undesignated free reEer¥es (excl￿￿n9 cap.lal assets) as at 31 March 2024 afflounted to £3,998.598. The Trustees consKler this level of free reserve5 to be aderyHte lo suppxyt the Cwat1￿ of the three homes fw foreseeable future. Reserves ace iting lyjill up lo a new care devekjwwrt. The charity has rèvised the inveslmenl rK)Iw to I￿1￿￿e some methum Iwm inveslmenls. rlacing £1 m with Edentree IF)vestment Management and £1m wlh Re(Jmayne Bentley Investment Management Stock Brokers Other funds are on derx)sit m terrn accounts. malurry at v*ious dales throughout the year gviThJ predithbk access lo ftjnds. The trustees ccfisider that £500.WO 15 a suffic￿1 minimLwn financial reserve. The Trustees ceased the depreciabon of buil¢thryJs in 2002 and e$18￿1$￿￿ the Planned Maintenance Fund. Tha fund is topped up by an annual transfer of 2% 01 fee income 9eneraled by all homes. PL4nned works s￿h as decoration and general refurbishment ￿ the homes are furn1e(l from th"Is In ts evenl of mapr works. an addilional transfer from ijndesignated fre8 reserves may be agre The balance on the ￿anned Maintenar￿ fund is £448.988 ak)w wtth the Iran$fer frorn fees is consldered adequate lo fund the &lanned ex￿n￿rture in ts coming year. The Trustees mcrsilor the level of this fvnd on an annual basis. The trustees have assessed Ihe maje¢ risks to the ch￿ty Is exposed. arKI are sth'sfied that system$ are in place lo mitigate exw5ure to the mY4or nsks. Plans for future periods Home Managers will fcKus over the cnming year on re￿dent care and experiences lo prepare for the chawes to the cac Inspeclion Framework Ensuring the care we provide Is excepknonal and of a consslenlly high SI￿dar￿. which is fleXI￿e lo meet Ihe Increasing needs, exp&tatson8 and demands of our iesidenls and their famil￿$ Resident dependency and ￿¢￿pancY will be continualty montiored alongside the stsffing rats) w￿Ch is ncreased or decreased as iequired lo ensure appr¢)priale levels of staff are maintatned. To maintain gts)d occupancy wh￿h ￿111 ir￿reaSe Ihe Ic￿CaSt surplus. SUPFQrt cash reseNes and boost the maintenance fund to reinvest in OL*r existing homes an(1 knnd a new development. We are actively lookir)g for future projects and development opportunrtie5 in thlher re&dentkql w dementia care in the North East of Englwd and neighbouring areas. In the future. we aim to replace our eMsting homes wlh modèm purpose-built f*ilities which hMII befjefrt and support ageiry populat￿n •Yl Ihose Irving ￿1 dementia. Resident fees are revie￿ annually ￿ increased in line ¥•ith foreeasl experKlrture ar¥J ￿Y changes lo staff numb8rs. TO appoint a yq'ecl ctrordinator to devek)p a refurtmshwnent pryram to mainlain the quality of accommodation currenlly piovided and lo improve our focilit￿, pro¥rfJing m￿e vaned a￿j sb"mulatsng areas In the gardens. where the residents can be invofved and have tX)porturxbes lo sha￿ ideas. An electrmic care hcme aoministrab.on system wll be IM￿mented Fll April, 2024 wll reFAace our existing payrcAI system and Integrate wlh N￿riSh. our ele¢Iron￿ care plar)nillg 5YStem, thich will streamline home, slalf and resident records. Biometnc and a staff portal is Induded lo enable stsff lo book overtime. Iraining and request holidays 11 1$ also a mofe effIC￿nI way lo commUn￿31e ￿1h our workforce. We wll prowde tra￿ing and $wp(￿L to lurthef tmtoj 'Nourish' Ihe electronic care pAanThng systan ulilise the system lo ils ftjll polenkn.al and F)rowde 'UrKJer OLf ￿ThJ, our thvn bespoke dementia training lo our ￿Sidential homes. EOTHEN HOMES LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 structurei governance and rnanagernent Gov8Tnlng documènt Eothen Hoffies Limited Is a Company ￿"mrted by wwantee. ￿Verned by Arts"des of AssOcia￿.0n adopt8J on 13 December 2017 (previously governed by the Memorandum aTrJ Art￿eS ofAsS￿l&￿.0n dated 8 May 1950. ￿ended on 27 September 1988 and 10 May 20101. The Company's wstratson number 15 0482334. 11 ss registered as a charity wlh the Charty c¢￿MisSion. numbw 223262 There are cutrenlty etghl membeTS. each of whom agrees lo contn.bule £1 in the event of Ihe ¢hariiat4e ￿MpanY being wound up. Th¢ charitys 04.ect and principa actNity (as descrthd in the artK4esl . 'lo provide care foi Fersons wthin a Christ￿n Framwicxk and Ethos" by the folthw'ng me￿5." Providing appro￿￿te a¢eommc¥lall￿, Jtems. s￿￿eS ￿ f&thbes c*ulaled to rek'eve r￿￿8 of $u¢h pèrson$, and by Ihè pr¢)vision of carers and by the provisic￿ of rewlar suFyxt and training for such oarers." The trustees, wtho are also the dweclors for wrpose of cc¥npany law. and who served during Iheyew and up lo the dale of si9n8twe ol the finanual statements were.. Mr l D Thomson Professor A Thomas DrAVan Oen Bos Dr S Mishreki MrA Mcllhinney DrA Shepherd MsMEmy Ms L Marsh (Resigned 11 July 20231 Rocrultment and appolntment of new trustees The board ¢on51$ts of voluntary Iruslees, Imemterwdireclorsl. V*tKS are c(Mnmitted Christs"ans and adhere lo tho Evangelical Alliance's statement ol faith. Trustees have slatulory respongbilities and ensure they fdlow the Charity Commission Cotte ol Governance In line wth Chanty requirement5. Ihe Director5 do not draw any remuneration or enelil 01F￿r Ihan expenses lo cary out their dutres Trustee5 V151t the homes when possible lo kew up lo (Jale and lo provide opwrtunilies lo meet ￿$l(lent$ and stall They also attend brief￿g5 and training courses as appropriate 8nd benefrt froffl Irdining ano experience fr(xn othef chth.es they are involved in. Thè reeruilment process follows tharily commissKin guit1elines to ensure tr￿le is an appropnale of skills, knowledge and experience arnongst Ils members. Exisb"ffj trustees approach candidates who are invited to attend a Trustee meeting. Inrtially as an observer If they are con5wJered 5UrtalAe for the rde of tnjstee. the relevwl checks and references are obtained belore bwThJ Inwled lo loin the board. New Trustees afe gtven an indLFclion pth 4thich Mcludes constslub￿aI dr￿￿￿t$. ovr anThJal business plan, fisk regisier, govemance infomslion and any other information relevant to the work of thè charity. All members ieceive a copy ol the 'Governance' magazine In order to keep them up to dale Ihwr rok and responsibilities and are directed to read the Chanl'es CommissvJn G￿ernance cDJe. The number and skills of Ituslees have be￿ rev*wed and il has been idenlffjed that we would benefil from lfie recruilmerrt of some new Iruslees. prefer8￿Y ¥￿t￿ exp*￿se in finance, senior business management and law Advertising leaflets havè been de%gn&l lo reach out to any potential trustees distributed to local churches and businesses with who we have close working conneCts.￿S in the North East. Trustee5 are appointed lor a Ihree year le￿. after which bme they we inwled lo staTrJ for re-election. Dr A O Sttepher¢J retired in July after seryiThJ Eothen for ow 34 years. There *ere no other Trustees dtse lo retire by rolalion In 2023. EOTHEN HOMES LIMITED TRUSTEES. REPORT IINCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) mpany Dr lo cease operations, or have no reali51ic alternabve lyjt to do so. Audltor's responsibilities for the audit of the financlal sl•tements Our o*ectives are lo obtain reasonable assLbrance aboLrt whether the fmanual slalemenls as a whoÈ are free from material misslatemenl. whether due lo fraud cy error, and lo issue an auditor's report that includes our opinion, Reasonable assurance 15 a high level of asSUra￿e bul 18 fKsI a 9(￿rantee Ihal an aLKlil c(*vJucled in accordance with ISAS IUKI %wll a￿ayS detect a maI￿al misstslemenl vA)en it exists Mlsslatements ¢an arise from fraud or error and afe considered moierial if. indiv￿￿allY or in the aggregate. could reasonably be expectèd tc influence the economic decigons of users taken ofthese fin￿rial slalements. The extent lo wh￿h wo¢ethfes are capable of detects'ng ￿egularitIeS. ￿dUd1r9 fraud. ￿ detailed ￿lOw. The risk ol material misstalemerrt due lo errty ty fr•Jd has teen assessed in ccmjunction knth hcp•4 intemal ¢onl(ol$ may mitigate any such nsk. These controls are reviewed as part ol Ihe 8L4Jil by p•fcthin9 Systèms walkthroughs to ensure they are operatiro effeclivety Analy1￿1 ￿vieW and substantive tesbng is also performed on 811 material baLances and therefrxe any instartes of Th)n•COm￿l3nce shwld be identsfied or considered as Insignfficant. In ideniifying and ass8Ssing risks of material mtsstalement in resFecl of irre9ulanlies. including fraNJ. the audit enga9emenl team., obtained an understsnding of the natu￿ of the industry and seclor, incjuding the legal reguiaory framewort(. Sn the charty operales a￿* h(Ns the charily CoM￿lè8 with that legal and regulatory framework inquired with management arKI Ihos8 thargod *ilh go¥eman￿ at￿t their own identification and assessment of the risks ol ITregulanlies IndudirvJ any know actual. susFecled cx alleged In$lances of Iraud discussed wlh management and those thar9ed wth governance any non-compliance ￿th law5 and regulations and IK)w fraud mi9ht txcur including assessments ol arKS whefe the financial slalemenls may be susceptible lo fraLKI. The risk of management 0¥orrid8 of corrtrt)Is was also eoNdered an afea of potentsal mi5Statement due io fraud. Audit procedures performed inctuded testing of manuaE journal entr￿5 and olhef adjustments and evaluating the business rationale in relalton lo significanl, unusual transacbC￿5 aruj Ifan5aclions entered into oulsQe Ihe nofmal ourse of business. 10- EOTHEN HOMES LIMITED INDEPENDENT AUDITOR'S REPORT ICONTINUED) TO THE TRUSTEES OF EOTHEN HOMES LIMITED There a￿ inhwenl limE1al￿n8 in ts autht Woe¢d￿e$ descn"W a￿ve and th8 primary resp3ns*Jihty for the prevefition and detection of iffegularities including fr￿d rests wlh managemenl. As wth any audit. there remained a risk ol noTrdelectson of irregukarities. as these may wwolve colUS￿l. lorgw. intentional i)mi56ions, misrepresentati&is or the ovettide ol internal conlrds. A fiJrther descrpti.on of our ￿rOnsiL*'hkn.es is avail•L* ￿ the Financial Reporting Counctl'$ websrte at." https:11 wMy.frc.org.uklwJditorsresponsIb￿iIleS This descripti￿ foms part of tyjr aut1iliy's fetKTrri Use of our report This report ts made sokly to the d￿rtst￿e comp￿5 members. as a bc*Jy, in accordance *ith Chapter 3 of Part 16 ol the Companies Act 2006 Ovr audit work has been UfKJertaken 50 that we might Slate lo the charitatle company's members those matter5 we are required lo slale to Ilkm in an audtlofs cethyt and lor no other purpose. To the fullest extent permilled by law. we do nol accept or assume responsibility lo ￿yone other than the charitable company and the ¢harrtat4e ¢>)mp*ry's members as a toty. for our a￿lt work. kn th￿ lew1. ¢y fry the 0FXn￿nS we have formed L- Nicholas Cunnlngham FCCA (Senior Statutory Auditor) for and on behalf of Robson Laldler Aceountaftts Llmlted Statutory Auditor Fernwood H￿$￿ Fern￿￿CXfj Road Jesmond Nevlcastle upjn Tyne Tyne ond Wear England NE2 ITJ 11 EOTHEN HOMES LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 un￿$trt¢1•d Unrestrlclgd funds funds 2024 2023 Income from: Donations and ￿g8￿@S 34.445 11,449 Re$￿ential care lees 5,8B1,693 S.387,772 Investments 131.026 23.467 Total Income 6.047,164 5.422.688 Expendlturn oft: hanlable activili Residential care other expenditure 5.388.058 4.764.162 11.418 Total expendi￿re 5.386.058 4.775.580 Nel gainslllossesl cn investments 93,787 126.0981 Net movement in funds 754.893 621.010 Reconciliation ol funds: Fund balar￿e$ at 1 Apnl 2023 12.265,688 11.844.678 Fund balanc•s at 31 March 2024 13,020.581 12.265,688 Tha statement of firwcial activ￿"e5 inckKJes al gaIr￿ and losses recogrmsed in the year. All irr(￿8 and expenth.lure derive from continuirKJ ￿tI¥ll￿%. 12- EOTHEN HOMES LIMITED BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Fixed ass•ts Tangible assets Investments 8,572.995 2.089.520 8,$80_131 1,913.002 10 10.662.515 10,493.133 Curr•nt assots Debtors Cash at bank and in h 11 109.709 2.634,130 67.546 2,053,524 2.743.839 2.121.070 Cr•dltors: falling due within one year 12 1385.7731 1348,5151 Net current assets 2.356.066 1,T72.555 Total assets les8 current Ilabllltlo6 13,020.581 12.26S.688 The lunds of the charity Unrestricted funds 13.020,581 12,265,688 13.020.581 12.265,688 The finanrial stalemenls were approved by ts trust&S LYI .... Mr l D Thomson Trustee Company registration number 00482334 {EngI*￿j ar*Y Wales) 13- EOTHEN HOMES LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash floyrn from operating activitles Cash generated frIMn operatb)ns 19 558.005 767.156 Investing activitles Purchase of langible fixed assets Proceeds from disposal of tsngt4e fixed assets Purchase of inve5tfflents Proceeds from i*"swsal of inveslrr￿nts Inveslmenl income received (25.6￿} 12Q.499) 789 (1.939.100) 1128.4041 45.675 131.026 23,467 Net eash genèrat￿ fromllus•d Inl investing activities 22,801 {1.944,3431 Net ¢15h US￿ in financing activities Net increasel(decreagel in cash and cash equlvalents 580.606 {1.177,1871 Cash and cash equivaknts at bw"nrir#J of yè* 2,053.524 3.230,711 Cash and cash eguivalents at •nd of y••r 2,634.130 2,053.524 14- EOTHEN HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting polic1•8 Charity information Eothen Homes Limited is a pnvate company Imrted by ￿arantee inCor￿￿ted in En￿nd and Wales. The regbstered office is 15 Berrymoor Court. NorthuMterl￿d PAJsin8ss Pork. Cramlingkn, Northumbefland, NE23 7RZ. EnglarKI. 1.1 Accounting convention Thè financial slalemenls have been prepared in aCcor￿ce wrth Its charity's g)verning document. CompanEs Act 2006 and 'Accounling and ReF￿r￿g by Charities stater￿n1 of Recommended Practice applicatye to charitie5 prepanng th*r acccwnls in accordance wth the Fiianaal Reporting Standard applicaue In the UK and RepuLgic ol Irela￿1 IFRS 1021 leflects.ve 1 January 2019}" The chanty 1$ a Publ Benefit Enbly as defined by FRS 11T2. The financial Stste￿￿$ are prép¥¢d in sterko. wfiith is the furK*KxAI casrency ol the charity Monetary amunls in these fin￿claI siatements are rounded lo Ihe ￿are$l £. The fin￿18] slaleff*nts have been prepared Lnder Ihe historic￿ cost cL￿vents.0￿. The principal a¢tounting policies adopted are set out b￿¢￿. 1.2 Going concern At the time ol approwng the finanoal statement$. the trustees have a reasonab￿ eXFec1at￿n that the charity has adequate resources to continue In wratsonal existen￿ fc* the fo￿Seeable future. Thus the trustees conb.nue lo adopt Ihe goiffj concem basis of ￿tIng tn preparing fin￿la1 stalements 1.3 Charltable funds Unreslricled funds are available for use at the disc￿￿ of the trustees in ILKtherance ol the¥ charitable objectives. Deygnated lunds are fvnds aswJe by the TrL￿lees wl of unrestricted fiJThas for Specif￿ futsjre purpose or projects. Restricted are subiecl lo Specif￿ Cc￿￿.1￿ by thnors or grant￿$ as to how they may be used. The purposes arKI uses of restricted lurNls a￿ set Ihe note5 to the fin￿Cial statements. 1.4 Income Income Is recognised when Ihè ¢harily is legally entsued lo rt after any perforrnance eondits'ons have been mel, the amounts can be measured reliably, and it Is probable Ihal Ir￿me will be ieceiv&J. 1.5 Expenditur• Liabilities are reccgnised as expenditijo as soon as theie is a lega or constTucbve obligation committing the charity to Ihal exwditlbre. il is probable Ihal a transfer of economic benefrts wll be required Ir) 5eltlemenl and the amount of the obligalKtn can be measured reliatrAy. Expendrture Is accounted for on an accruals LBsis and has been claS￿lIe￿ under headirKJs that aggregate all cost ielated to the category Where costs cannot be direct5y aitribjled to particuLgr headings they have twi ￿¢cate¢Y to acts"¥ities on a bags Cl￿s1$t¢ni wlh the Use of resource8. 15- EOTHEN HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Ac¢ountin9 poIici•s Icontinuedl 1.6 Tangible fixed assets Tangl￿e fixed ossels are irwlkglly ￿asUre0 at ust and subsequ&)Uy measured al cosl ￿ valuatson. nel ol d8preciats.on and any Imp*nnent losses Depreciaticffl is recognised so as lo ￿[te off the c051 or valuation of assets ￿s$ theif fe*dual valLW over their useful lives on the folkjwng bases.. Freehold l￿d and builth.ngs Fixtures and fitb'ngs Comwters Nol depreuated 15% on cost 33% on cost 1.7 Flxed •#$et Investm•ni8 Fixe(J asset investmen15 we Irutially measured at tranSact￿n price excI￿ling transacb.on co$t5, and are $ubs¢queniiy MeasUr￿j al fair value at each re￿￿ date. Chwges Jn lair valtse are recognised In nel incomellexpenthlurel for the year. Transacts"M cctsts are expensed as irwred. 1.8 Impairmgnt of rued assets Property. plant and equipm￿1 are fev*wed lor impaiment rf evLN)Is ￿ changes in circumstances i￿lICate that the carrying amount of such assets may not be reeoverabl8. If there is an Ind￿atIOn of PDssi￿8 impament. Ihe recov@rab￿ amoMI ol any affected ass81 Is estsmated compared against ils Carrying amount Where the estimated recoyerable amount is h)*Ef. an impairment Ioss 15 recowised immeth'al8ty in prcfil and loss. 1.9 Cash 8nd cash equlvalents Cash and cash equivalents Ir￿￿￿e cash in hèrKI. dem'ts held al c811 with banks. fftr short-temi liquid investments wrth onginal maturrtie5 of th￿ months LY les5, and bank overikafts Bank overdrafts are shown wrthin bOrrobmn￿ in current 11a￿*"11eS 1.10 Taxatlon The charities aclivi14es fall within the exemptions afforded by t￿ wow8ion$ of The Coiporatson Taxes Act 2010. AccoTdirvJly, there is no laxalion charge in these accounts 1.11 Retlrement beneffts Payments to defined conlribub¢M rebremenl benefft schery*s are dwged as an expense a5 they fall due. 1.12 Short tern) deblors and credllors Debtors and credrtors wth no Interest rate which re￿Vable OT PaYa￿e wrthin one year we recLYded at transaction price. Any loss arising from Impalm￿nI are recognised Mmediatety ir) proffit and 105$. 16- EOTHEN HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donatlons and1gg•¢l8s Unrnstrlct8d funds 2024 Unrestricted funds 2023 t)onth'ons arK1 gifts ¢kniernment grants 3,201 31.244 2,4(Q 9.049 34,445 11,449 Expenditure on charltable actlvlll•s R￿Id•nI1al Residential care care 2024 2023 DlrKt ¢o$ts Staff costs Dopreciatson and imp•mient Rates water Insurance Li￿1 and heat Telephone, stationery antt Sundries Food 3.442,219 32,830 36,969 68,755 286,869 34,276 34,838 270,297 2,919.405 75.005 31.407 72,674 137,462 43.582 17.342 250,934 k 11 China, utensils aThJ linen Employment agency Repair5 and mainlenan GarO&ning CleaniTrJ and waste disp Tr8irnng, Iravelling and subsistence Leg4 and professional Registration fees Occuw'onal therapy 21,389 126,890 324,094 28.117 74,643 18.002 15.460 20.850 16.6C(I 7.349 258,813 318.S43 28.234 64 335 22.638 3.805 20.347 10.144 4.853.098 4.282,019 Sharg of $upport and governance costs (see noto 41 Support Governance 527,010 5.950 476.843 5,300 5.386,058 4.764, 162 An8lysl$ by fund Unrestricled funds 5.386,058 4.764,162 17- EOTHEN HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs allocated to activFties Re8ld*nllal C•fe 2024 Totsl 2023 Siaff costs Depreciation Property expen8es Motor and travel costs Legal and professional fees Comunication Information Office èxpenses Bank charges Govemance 433.396 404.639 538 38.507 10.426 4.619 9.081 3.512 5.521 5,300 44.327 18.857 12,267 8.536 2.7 6,831 5.950 532.960 482.143 Net movement in funds 2024 2023 The net movement in fu)ds is stated after chargin￿{c￿d￿ti"ng). Fees payable for the atjyrt of fts ¢hanVs $tatements Depreciation ol ovéned tangit4e fixed assets L088 on disposal ol I￿jIble fixed assets 5,950 32,830 5.300 75.543 11.418 Trustees None of the trustees lor any PerSc￿5 ccfflnecled *ith them) receNefJ any r8muneralion or bel￿fitS from the charity during Ihe ye Employees The average monlhly nlmber ol ￿plOyeeS dl￿ng the yew was.. 2024 Number 2023 Number Residenlia Central management and adminislrab. 150 146 Total 157 153 18- EOTHEN HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employ•¢s IContlnuÈdl Employment CO8ts 2024 2023 Wages aThJ salaries Soc¢al secunty costs Cxher pension costs 3 514.084 271.189 J,342 3.013,304 235,352 75,388 3.875.615 3.324,044 Key management remuneration totamed £190.73712023." £175.9841. The number of em￿oYeeS vthose anThJal remfftratp)n was £60,OW or more were". 2024 Number 2023 Nurnb•r £80.001 10 £90.￿) Taxation The tharity is exempt from taxation tts xtiwties l)eca4se all its irthme Is appjhgj for charilatrAe purposes. Tanglblo flxed assets Fro01￿Id Fixtures and CwyJter8 and building frttinBS Totsl Cost Al 1 April 2023 Afldith'ons Diswsals 8.638.197 778,601 25,696 132,0461 11.940 9.428.73B 25.696 132.0461 Al 31 March 2024 8.638,197 772,251 11,940 9,422.386 Depreciation and impalrnwnl Al 1 April 2023 Depreciation charged in the year Eliminaled in respect of disrosals 163.293 673.376 32.830 132.0461 11.940 848,609 32.830 (32,0461 Al 31 hAarch 2024 163,293 674.160 11940 849.393 Carrylng arnount Ai 31 March 2024 8.474.904 98.091 8,572,995 At 31 March 2023 8,474.905 105.226 8580,131 19- EOTHEN HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Flxed 498ot In¥￿tr￿n18 Listed Investments Cost or valuation Al 1 April 2023 A¢Jth'lions ValuatK)n ¢h¥oes D￿POsal$ 1,913.002 128.404 93.789 145.6751 Al 31 March 2024 2,089.520 Carrylng amount At 31 March 2024 2,089.520 At 31 March 2023 1,913,002 11 Oebtor5 2024 2023 Amounts lalllng due wlthln one year- Trade debtors Prepayments aThJ accfL*d incLxne 49.177 60.532 22.272 45.274 109.709 67.546 12 Credltorn.- amounts falling due within one year 2024 2023 Other taxatirm arKI social sewnty Trade ¢redilors Other creditors Accruals and deferred wKomo 78,192 81.240 21.546 204.795 68.279 78 370 19,702 182_164 385.773 348.S15 -zo- EOTHEN HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Retlrement benefit schemes 2024 2023 Deftned contr11￿tIon 8¢h•m•s Charge lo ryofit rA loss in resFect of defiwj c0ntribth1c￿ sc*￿￿e$ 90.342 75,388 The charty opefates a defI￿d cmtrilmthon pons1￿ scheme for all qualty.ng employees. The assets of the scheme are held Separately from Ihose of the ctharity in ￿ iThdependenYy athninislered fvnd. 14 Designated fund# The unre5tricled funds of the charity ¢L¥TVi5e the ￿¥pended balances of ¢Jonatsons ar*1 grants which are not subj￿1 lo specific conditions by dcmrs arKI grartlNs as lo how they may ￿ used. These Include despjnated fund$ whth have been sel ag¢* out of ￿reSEn"¢led furKls ty the tntstees for speu.fic purposes. Balan¢• at l Aprm 2023 R•8otsrce8 ÈxpeThled Trartsf•rs 8alance at 31 March 2024 Planned matnlenonce fwKI cap￿81 fund 424,248 8.580.131 192.891) 117.634 448.988 {7.1361 8,572,995 9.Crt)4.379 {92.894) 110.498 9.021,983 15 Related party transactlo There were no disdosable reLgled party Ir¥nsxt￿s duriThJ the year12023. ncv)el. 16 Purpose of Designated Funds T1￿ planned maintenar￿e fvnd has been sel asioe wl of Unfestr￿ted fijnds ty the Truslee8 for f¢Jture anned maintenance costs al the ttomes. The eay.tal lund represenis the Value of the lunth'onal fix8J assets held by the charity. net of bofrwro The Trustees con%der that these assets lorrn the ccye assets from which the charity operates and therefore do nol consider them lo be availabKe lo lund the day lo day ath"yities of the arily. 17 Ind•mnlty Insurance The chanty paid for the inwrance pyemiums to indemnity Trust88s a￿1 sen•Jr staff from any Ioss &$5ing frc¥n Fwlect of defaults of Trustees or slaff and any consequent lost 18 Company Llmlt•d by Guarantee Eolhen Homes Limited is a company Iimrted by guarantee accordingty ths not have a share caFMlal. Evwy member of the company un(krtakes lo contrilxrte such amounts as may ￿ required not exceeding £1 lo the assets of the charrtable c(Ynpary In the event ol rt being wound up vdhile he or she Is a member, or within one year after he ￿ she ceases to bo a member. 21- EOTHEN HOMES LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 CaBh gènerat•d from op•ratlon8 2024 2023 Surpkjs for the y8ar 754,893 621,010 Adjustments for". Investmenl trKome recognised in stalwnent of ￿ar￿la1 acb¥th"es (Gainllloss on disposal of tangible fixed assets Fair value gains and losses on investments Depreoalion and impaimient of Iwible fix&Y assets (131.0261 123.4671 11,418 26.098 75,543 {93.7871 32,830 Movements in wc*kn"ng capital,. Ilncreaselldecrea5e in debtors Increase in creditors 142.1631 37.258 37,134 19,420 Cash generated from operatloTrs 558.005 767,156 20 Analysls of changes In n•t funds The chaity had no malellal debt dunng the year.