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2024-03-31-accounts

Charity registration number 223946

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr R M Wharton - Honorary Treasurer
Mr D J D Arter
Mr T H Cartmell
Dr R M Jones
Mr R Killen
Mr G Wilkinson
Canon B Rothwell
Mrs J H Fearon
Mr D Hurst
Mr I W Brown - Chair
Mrs L Faulder - Vice Chair
Ms C Duthie
Patrons Lord Melvyn Bragg of Wigton
Mrs Anne Coulthard
Mrs Connie Anderson
Charity secretary Mrs D Harrison
Charity number 223946
Principal address The Convalescent Home
Silloth
Wigton
Cumbria
CA7 4JH
Auditor Saint & Co.
Sterling House
Wavell Drive
Rosehill
Carlisle
CA1 2SA
Bankers Cumberland Building Society
Station Road
Silloth
Wigton
Cumbria
CA7 4AE
HSBC Bank Plc
29 English Street
Carlisle
Cumbria
CA3 8JX

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

CONTENTS

Page
Trustees' report 1 - 8
Independent auditor's report 9 - 12
Statement of financial activities 13 - 14
Statement of financial position 15
Statement of cash flows 16
Notes to the financial statements 17 - 31

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

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 governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The Charity's objectives, as set out in its Trust Deed, are that the Home should be used for the purposes of a Sanatorium or Convalescent Institution for the use of the natives of either of the former counties of Cumberland and Westmorland and others. When planning our activities for the year, the Trustees have given careful consideration to the Charity Commission's guidance on public benefit, in particular, the specific guidance on fee charging, and the guidance on the charitable purposes of the relief of those in need, by reason of youth, age, ill-health, disability, financial hardship or other disadvantage, and the advancement of health.

The main objectives and activities focus on the care services delivered and are undertaken to further our charitable purposes for the public benefit.

Strategies for achieving aims and objectives

The strategies employed to achieve the Charity's objectives are:

Public benefit

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

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Care services

The Home is registered with the Care Quality Commission for 38 placements and is rated Outstanding, and includes nursing and residential placements under the category 'Old Age', and placements for young disabled adults under the category 'Physical Disability'.

The Charity welcomes people from all walks of life; equal access to our services is an important issue for the Home. No-one is discriminated against on the grounds of race, disability, gender, age, sexual orientation, religion or belief. The Home strives to preserve and maintain the dignity, individuality and privacy of all clients within a warm and caring atmosphere. Recognising that their needs may be medical / therapeutic (for physical and mental welfare), cultural, psychological, spiritual, emotional and social. The Charity has a holistic approach to care; each client is encouraged to participate in the development of their individual plan of care, in which the involvement of family and friends may be appropriate and is greatly valued. We work closely with General Practitioners and other professions involved in healthcare, in order to assess each individual's needs and help them to understand the procedures and processes involved.

Our 'Moving and Handling' team works closely with clients, identifying their capabilities and helping them to achieve their maximum potential. This service is of particular benefit to our short stay clients, helping to rehabilitate people back into their home environment.

The Charity works closely with residents, families and multiple disciplinary teams to develop improvements in the quality and organisation of care for people approaching the end of their lives.

Fees

The Charity has addressed the risk that the availability of benefits to the public could be restricted because nursing and residential fees are charged. However, we also offer our services to residents who do not pay for their care by themselves, but who are funded by the local authority. Therefore the Trustees are confident that potential beneficiaries are not excluded because of their ability to pay for care fees.

The Trustees review fees annually. In common with other care homes, fees are based on a client's assessed needs and funded through a variety of sources, ranging from self-funding to local authority and health service provision. People who qualify for Free Nursing Care are assessed by a representative of the Cumbria Clinical Commissioning Group and receive a 'Registered Nursing Care Contribution' towards their fees or, in some circumstances, may receive total funding through the National Health Service.

Care Fees include all care and accommodation costs, food and drink, heating and light, a three monthly footcare service, laundry done on the premises, basic toiletries as well as other staff services. The Home's care services do not differentiate between those delivered to people funded through private means or through the local authority.

Invitations are regularly extended to our residents' family members and to local people who are elderly and living alone, to join our residents for meals, activities and outings.

Staff

Staff employment is only confirmed after rigorous checks have been made through a successful completion of a DBS application with the Disclosure and Barring Service.

All new members of staff are given induction training in line with the National Minimum Standards and the Care Act 2014. Also included in the programme is the Gold Standards Framework training. This involves all care service requirements, including health and safety training and an introduction to the Home's policies and procedures. The Manager and Training Coordinator ensures that members of staff are given the opportunity of further training and development throughout their time at the Home. New members of staff who have no formal qualifications are given the opportunity to undertake both the Care Certificate and a vocational qualification.

Care Home Legislation

The Trustees are mindful of the legislation pertaining to the care of vulnerable people and the upkeep of their accommodation. The Home is properly insured and the required periodic maintenance checks are made on the fabric of the building and the equipment used in the care of residents and patients.

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Volunteers, GIfts in Kind

We are forever indebted to the nursing home's League of Friends, who freely give of their time to raise funds for the benefit of residents and the Home. The League of Friends' now hold a monthly coffee morning in Christ Church to which all are welcome.

Achievements and performance

Significant activities and achievements against objectives

The Care Quality Commission last carried out an inspection in August 2019 when the Home was awarded the official rating of Outstanding for the second time.

We continue to provide an outstanding level of Care for End of Life with individuals and families now choosing Silloth Nursing Home as an alternative to hospitals and hospices.

Our Staff training programmes continue and to date around 78% of care staff have a vocational qualification in Health and Social Care in either Level 2 or 3. New staff are currently either working through the Care Certificate or have enrolled in Diploma Training. We are grateful to all of our staff for their hard work and continued commitment, many of whom have been with us for over 10 years.

Personnel

There were no retirements during the financial year and the Trustees will be forever grateful to all former employees for their loyal service over the years.

Long Service Awards were awarded to RGN Jo Sloan and night Care Assistant Shelley Wilson -10 years of service, Care Assistants Gill Berwick and Alec Dodd for 20 years and Enrolled Nurse Karen Rudd for 30 years.

Every year we thank our Staff for their hard work; this year is no exception. We are so grateful for the continuing sacrifices our staff have made this year, going beyond the normal realms of their employment. They have coped so well with the pressure, extra duties, extreme working conditions, the sadness and anguish that their vocation can bring.

Our sincere thanks go once again to Matron Lianne Searby, Sister Fiona Milne and all staff for another year of dedicated care for our Residents. We thank Dawn Harrison, Carrie Henderson and Jacqui Jewell for their hard work throughout the year.

Thanks are also due to Dr. Darren Hymers and his colleagues at Silloth Group Medical Practice for continuing to provide a service of excellent medical care.

Frequent consultations took place throughout the year with the Care Quality Commission and other external agencies, including the Department of Social Services, Mental Health Team, District Nursing Team and Public Health England. We are grateful for the guidance and advice given to the nursing home.

In 2023 reaccreditation took place for the Gold Standards Framework. The Home has been part of the programme since 2008 achieving Beacon status at each accreditation and also being awarded with Care Home of the Year in 2016. The Home is recognised as a Platinum Home, was again nominated as Care Home of the Year, and is the only Home in the UK to be accredited 5 times.

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Donations

We are grateful to the Longcake Charity for their continued support to the Home and for all the donations over the years including £900 this year.

The Community Hub closure donated £500.00 to the Residents’ Fund which has ensured that all our residents benefit regardless of ability.

The Beer Festival also wound up during the year and the Home was chosen as one of the beneficiaries of the surplus funds, along with other worthy causes in the Community; we were awarded the sum of £990.

The Home is thankful for all donations received during the year and in particular all those given by individuals in memory of their loved ones.

Financial review

The Home's main funding source, income from nursing and residential care fees, increased from £1,743,400 in 2023 to £1,869,004. This included Local Authority and NHS Cumbria funding. Turnover for the year, including care fees, donations, fundraising and investment income, totalled £1,903,381; an increase of £131,135 on the previous year.

Expenditure increased by £125,101 on the previous year, from £1,729,049 to £1,854,150 Staff costs will rise in the next financial year in accordance with the National Living Wage, as well as cost of living rises.

The Trustees are mindful of the upkeep of the premises; room refurbishment continues to be carried out as required.

The end of year resulted in a trading surplus of £51,485 arising from:

Total Incoming Resources 2023-2024 £1,903,381 Less Total Expenditure 2023-2024 (£1,854,150) Gain/(Loss) on investments £2,254 _____ £51,485

Finances have been affected during the past several years. The Trustees were thankful during this time for the healthy level of reserves which were available to the Home which assisted with the loss in income and rise in costs. The Home will now focus on rebuilding reserves financed by future operating surpluses.

2023 saw the return of fundraising opportunities for the Home. The August Summer Fete raised £1,485 and the Christmas Fete £1,455. It was lovely to welcome back large numbers of visitors to the Home and it is hoped that at least one annual event can be organised each year.

Total funds of the charity at the year end are £1,835,578.

The charity's current level of unrestricted free reserves (total funds less the amount held in fixed assets and restricted funds) is £731,275. Included in these reserve there are designated funds of £36,982 for repair & refurbishment, training and patient amenities leaving £694,293 of freely available general unrestricted reserve. Restricted funds at the year end totalled £90,778 and endowment funds were £30,158. Tangible fixed assets of £983,365 are held for use by charity (unrestricted fund £983,365, restricted fund £nil) and can only be realised by the disposal of these assets.

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Reserves policy

The Management Committee has examined the Charity's requirements for reserves, in light of the main risks to the organisation. Our major operational risk is the possibility of the failure to provide a service which would result in relocating residents and patients. This would have a severe impact on the Charity. The Trustees estimated that it could take three to five months to relocate clients, and the need to meet running costs and staff contractual obligations during this time, were identified as a significant factor. The Management Committee has therefore established a policy whereby the unrestricted funds held by the charity should account for at least six months of the average annual expenditure. The reserves are needed to meet the working capital of the Charity and the Trustees are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding.

The present level of free reserves available to the Charity of £694,293 is below what is anticipated. The Trustees remain thankful that the Home had adequate reserves to support the operating costs. The Management Committee's policy is to increase these reserves to the level required, by means of annual operating surpluses. This policy is reviewed annually.

Investment policy

Investment income recorded an increase over the financial year from £7,816 to £16,423 at 31st March.

In September 2023 the home re-invested £85,000 in a 1 year fixed term account with the Hampshire Trust Bank. The investment matures in September 2024.

The performance of the Home's investments is continually monitored by the Finance. The Trustees agreed that the specialised unit trust designed for the charity sector, continues to meet the Home's requirements for the time being.

Risk Management

The Management Committee has a risk management strategy which comprises:

The Committee is responsible for the management of the risks faced by the home. Our risk register is reviewed annually and the Trustees review any new risks identified during the year, on an ongoing basis. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and by the consistent quality of nursing and residential services. These procedures are under constant review.

Risks are identified, assessed and controls established throughout the year. The Trustees recognise that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. A key element in the management of financial risk is the setting of a reserves policy and its regular review by the Management Committee.

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Plans for future periods

Looking to the future, the Management Committee has examined the circumstances facing the Charity and its future income and expenditure patterns. The Committee has therefore designated £25,000 for general refurbishment and repairs, £5,000 for training and £4,000 for beds. Staff training remains paramount.

The Trustees are committed to continual staff training and development, and continue to review our training programme to ensure that courses remain relevant to the Home's requirements. A strong emphasis is therefore placed on courses pertaining to the Home's delivery of care, health and safety, and legislative requirements. Our training programme for the coming year continues to focus on: Palliative Care, National Vocational Qualifications in Care, Safety of Vulnerable Adults, Dementia, Fire Safety Awareness, Food Hygiene, Dignity, Nutrition, Tissue Viability, Health and Safety, First Aid Infection Control and Data Security.

Emergency lighting to the rear of the building will be installed in 2024, with further plans to renew all lighting on the exterior of the building in stages.

The hot water system throughout the building will be improved in 2024, Wilkinson James Consultants are working alongside the Trustees, recommendations have been made and the opportunity to complete has been put forward for tender.

The key objectives when determining future plans remain:

  1. To maintain the current high standard of care

  2. To maintain client accommodation and the nursing home to a high standard

  3. To provide equipment and mobility aids where required

  4. To continue to review staff training requirements

  5. To meet legislative requirements pertaining to the running of the Home.

Structure, governance and management

Governing document

The Silloth Nursing and Residential Care Home is a registered charity, number 223946. Its full name is the Cumberland and Westmorland Convalescent Institution, and it was established by trust deed on 1 May, 1862 for the purposes of a Sanatorium or Convalescent Institution for the use of the natives of either of the Counties of Cumberland and Westmorland and others.

The trustees who served during the year and up to the date of signature of the financial statements were:

Mrs G Martin - Chair (Resigned 18 July 2023) Mr P Allison - Vice Chair (Resigned 8 February 2024) Mr R M Wharton - Honorary Treasurer Mr D J D Arter Mr T H Cartmell Dr R M Jones Mr R Killen Mr G Wilkinson Canon B Rothwell Mrs J H Fearon Mrs J R Day (Resigned 14 March 2024) Mr D Hurst Mr I W Brown - Chair Mrs L Faulder - Vice Chair Mrs A Blair (Resigned 13 April 2023) Ms C Duthie

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Recruitment and appointment of Management Committee

The members of Committee are the Trustees of the charity. Members are elected as a vacancy occurs by unanimous vote of the existing board. The Charity's work focuses on vulnerable people and the Management Committee seeks to ensure that their needs are appropriately reflected through the diversity of its members. The Trustees keep the skill requirements under review and the more traditional business and medical skills are well represented on the Committee.

Organisational structure

The general running of the Charity is devolved to the Management Committee, which can have 16 members. The Trustees meet on the second Thursday of each month and there are sub-committees covering finance and housekeeping. Details of the current members are detailed within the legal and administrative information of these accounts.

The day-to-day running of the Home is delegated to the Manager, Mrs. Lianne Searby, who is supported by the relevant employees of the Charity.

Induction and training of trustees

The induction process for any newly appointed Trustee comprises an initial meeting with the Chairman and members of the Management Committee. Induction training includes an introduction to the sub-committees, objectives, policies and procedures of the Home. Trustees are required to read the relevant Charity Commission information and familiarise themselves with the activity of the Home and its legislative requirements.

All Trustees give of their time freely and no trustee remuneration was paid in the year. Details of trustee expenses and related party transactions are disclosed in notes 10 and 27 of the accounts. Trustees are required to disclose all relevant interests and register them with the Management Committee and, in accordance with the Home's policy, withdraw from decisions where a conflict of interest arises. Trustees who are involved in the running of and sit on the board of independent trusts who have dealings with the charity are disclosed in note 27 of the accounts.

Arrangements for setting key personnel pay and remuneration of key management personnel

The Management Committee considers that they, together with the Manager, Committee Secretary and Senior Qualified Staff constitute the home's Key Management Personnel. Members of the Committee give of their time freely. Pay and remuneration of personnel is set on the recommendation of the Finance Committee and forwarded to the full Committee for possible alteration and subsequent ratification. This procedure is kept under annual review.

A number of criteria are used in setting pay:

Relationship with related parties

The Charity has a close relationship with the Holme Cultram Sea Dyke Charity, which provides funding for people in need of emergency respite care who live within the boundaries of the Ancient Parish of Holme Cultram.

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Statement of trustees' responsibilities

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.

Auditor

Saint & Co. will be proposed for reappointment as auditors of the trust at the forthcoming Annual General meeting.

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

Mr I W Brown - Chair

Trustee

31 July 2024

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

Opinion

We have audited the financial statements of Cumberland and Westmorland Convalescent Institution (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and notes to the financial statements, including 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.

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

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 require us to report to you if, in our opinion:

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.

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

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.

Saint & Co. 31 July 2024
Chartered Accountants &
Statutory Auditor Sterling House
Wavell Drive
Rosehill
Carlisle
CA1 2SA

Saint & Co. 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.

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2024

Current financial year

Unrestricted
funds
2024
Notes
£
Income from:
Donations and legacies
3
11,765
Charitable activities
4
1,875,193
Investments
5
13,830
Total income
1,900,788
Expenditure on:
Raising funds
6
-
Charitable activities
7
1,852,274
Other
12
230
Total expenditure
1,852,504
Net gains/(losses) on investments
13
(249)
Net incoming resources before transfers
48,035
Net incoming resources before transfers
48,035
Gross transfers between funds
5,562
Net movement in funds
53,597
Fund balances at 1 April 2023
1,661,045
Fund balances at 31 March 2024
1,714,642		 Restricted
Endowment
funds
funds
2024
2024
£
£
-
-
-
-
2,593
-
2,593
-
-
-
1,646
-
-
-
1,646
-
-
2,503
947
2,503
947
2,503
(5,562)
-
(4,615)
2,503
95,393
27,655
90,778
30,158		 Total
2024
£
11,765
1,875,193
16,423
1,903,381
-
1,853,920
230
1,854,150
2,254
51,485
51,485
-
51,485
1,784,093
1,835,578		 Total
2023
£
19,035
1,745,395
7,816
1,772,246
20
1,729,029
-
1,729,049
(1,975)
41,222
41,222
-
41,222
1,742,871
1,784,093

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

All income and expenditure derive from continuing activities.

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Prior financial year

Unrestricted
funds
2023
Notes
£
Income from:
Donations and legacies
3
14,035
Charitable activities
4
1,745,395
Investments
5
6,665
Total income
1,766,095
Expenditure on:
Raising funds
6
20
Charitable activities
7
1,727,181
Total expenditure
1,727,201
Net gains/(losses) on investments
13
(887)
Net incoming resources before transfers
38,007
Gross transfers between funds
2,046
Net movement in funds
40,053
Fund balances at 1 April 2022
1,620,992
Fund balances at 31 March 2023
1,661,045		 Restricted
Endowment
funds
funds
2023
2023
£
£
5,000
-
-
-
1,151
-
6,151
-
-
-
1,848
-
1,848
-
-
(1,088)
4,303
(1,088)
(2,046)
-
2,257
(1,088)
93,136
28,743
95,393
27,655		 Total
2023
£
19,035
1,745,395
7,816
1,772,246
20
1,729,029
1,729,049
(1,975)
41,222
-
41,222
1,742,871
1,784,093

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
15
Investments
16
Current assets
Debtors
18
Cash at bank and in hand
Creditors: amounts falling due within one year
19
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
The funds of the charity
Endowment funds
22
Restricted income funds
23
Unrestricted funds		 2024
£
174,350
702,345
876,695
(68,142)		 £
983,365
43,660
1,027,025
808,553
1,835,578
1,835,578
30,158
90,778
1,714,642
1,835,578		 2023
£
175,919
612,996
788,915
(52,300)		 £
1,006,072
41,406
1,047,478
736,615
1,784,093
1,784,093
27,655
95,393
1,661,045
1,784,093

The financial statements were approved by the trustees on 31 July 2024

Mr R M Wharton - Honorary Treasurer Mr I W Brown - Chair Trustee Trustee

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash generated from operations
28
Investing activities
Investment income received
Net cash generated from investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
16,423		 £
72,926
16,423
-
89,349
612,996
702,345		 2023
£
7,816		 £
12,631
7,816
-
20,447
592,549
612,996

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is The Convalescent Home, Silloth, Wigton, CA7 4JH, Cumbria.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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. The principal accounting policies adopted are set out below.

1.2 Going concern

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.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

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.

Permanent endowment funds exist where the Charity receives a gift or legacy under the terms of which the capital may not be expended. The income may be restricted or unrestricted, depending on the terms of the original gift.

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.

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

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.

Donated goods are measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value.

Donated facilities and services are recognised in the accounts when received if the value can be reliably measured.

No amounts are included for the contribution of general volunteers.

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.

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.

Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Charitable activities costs includes direct residential care home costs and management and administration expenditure

Direct residential care home costs include all costs associated with operating the primary activities of the charity, these being the running of the residential care home. The costs include wages, food, activity and premises costs and directly attributable telephone and sundry costs, including depreciation on assets directly used for charitable purposes. Management and administration expenditure includes cost of administration staff wages, running of the office and any legal fees and depreciation on office.

Governance costs

This is expenditure incurred in relation to audit, accountancy and legal fees.

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

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.

Land and building improvements and major items of equipment are capitalised within these accounts. Fixed assets costing less than £10,000 are not capitalised, but written off to the Income and Expenditure Account as incurred. This is a departure from section 17 of FRS102 but is justified on the grounds that the assets are generally replacements of existing equipment. Assets not capitalised under this policy are disclosed in the notes to these accounts.

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:

Property improvements 2% reducing balance Plant and equipment 15% reducing balance Land No depreciation

Freehold land is not depreciated.

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 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 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).

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.

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

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 Employee benefits

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.

1.12 Retirement benefits

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

1.13 Government Grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.

Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

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.

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

3 Income from donations and legacies

Unrestricted
funds
2024
£
Donations and gifts
11,446
Annual subscriptions
290
Other
29
11,765		 Restricted
funds
2024
£
-
-
-
-		 Total
Unrestricted
funds
2024
2023
£
£
11,446
13,724
290
290
29
21
11,765
14,035		 Restricted
funds
2023
£
5,000
-
-
5,000		 Total
2023
£
18,724
290
21
19,035

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Income from charitable activities
Sale of goods - 4
Residential fees 1,869,004 1,743,400
Meals 1,758 1,914
Other income 4,431 77
1,875,193 1,745,395
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Interest receivable 13,830 2,593 16,423 6,665 1,151 7,816

6 Expenditure on raising funds

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity
Membership schemes and social lotteries - 20

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

7 Expenditure on charitable activities

Direct Costs Direct Costs
2024 2023
£ £
Direct costs
Staff costs 1,268,405 1,161,148
Depreciation and impairment 22,477 23,378
Equipment lease 23,385 12,492
Clinical waste, cleaning & refuse 51,393 57,877
Provisions, surgery & dispensary 139,927 137,055
Premises costs 81,280 80,888
Repairs & maintenance 62,064 66,448
General expenses 12,202 16,656
1,661,133 1,555,942
Share of support and governance costs (see note 8)
Support 176,260 168,245
Governance 16,527 4,842
1,853,920 1,729,029
Analysis by fund
Unrestricted funds 1,852,274 1,727,181
Restricted funds 1,646 1,848
1,853,920 1,729,029
Support costs allocated to activities
2024 2023
£ £
Staff costs 147,042 138,616
Office costs 6,898 12,452
Other staff costs 7,707 9,270
Advertising - 120
Sundry expenses 14,613 7,787
Governance costs 16,527 4,842
192,787 173,087
Analysed between:
Direct Costs 192,787 173,087

8 Support costs allocated to activities

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

8
Support costs allocated to activities
Governance costs comprise:
Audit fees
Accountancy
Legal and professional
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable to the charity's auditor:
- for the audit of the charity's financial statements
- for other financial services
Depreciation of owned tangible fixed assets
Loss on disposal of tangible fixed assets
Operating lease rental		 (Continued)
2024
2023
£
£
2,886
2,350
2,876
2,492
10,765
-
16,527
4,842
2024
2023
£
£
2,886
2,350
2,694
2,492
22,477
23,378
230
-
23,385
21,616		 (Continued)
2024
2023
£
£
2,886
2,350
2,876
2,492
10,765
-
16,527
4,842
2024
2023
£
£
2,886
2,350
2,694
2,492
22,477
23,378
230
-
23,385
21,616
4,842
2023
£
2,350
2,492
23,378
-
21,616

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11 Employees

The average monthly number of employees during the year was: 81 (2023: 75)

Nursing, caring services and domestic
Clerical and administration
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
79
2
81
2024
£
1,287,809
89,180
38,458
1,415,447		 2023
Number
72
3
75
2023
£
1,196,405
69,163
34,196
1,299,764

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

11 Employees

(Continued)

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total remuneration paid to key management personnel for services provided to the charity was £91,133 (2023:£85,797).

Termination payments totalling £2,887 were made in the reporting period.

There were no employees whose annual remuneration was more than £60,000.

12 Other expenditure

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Net loss on disposal of tangible fixed assets 230 -

13 Gains and losses on investments

Unrestricted Endowment Total Unrestricted Endowment Total
funds funds funds funds
2024 2024 2024 2023 2023 2023
Gains/(losses) arising on: £ £ £ £ £ £
Revaluation of investments (249) 2,503 2,254 (887) (1,088) (1,975)

14 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

15 Tangible fixed assets

Tangible fixed assets
Property
improvements
£
Cost
At 1 April 2023
1,453,250
Disposals
-
At 31 March 2024
1,453,250
Depreciation and impairment
At 1 April 2023
471,295
Depreciation charged in the year
19,639
Eliminated in respect of disposals
-
At 31 March 2024
490,934
Carrying amount
At 31 March 2024
962,316
At 31 March 2023
981,955		 Plant and
equipment
£
119,823
(11,397)
108,426
100,906
2,838
(11,167)
92,577
15,849
18,917		 Land
£
5,200
-
5,200
-
-
-
-
5,200
5,200		 Total
£
1,578,273
(11,397)
1,566,876
572,201
22,477
(11,167)
583,511
983,365
1,006,072

The home considers that the market value of the land is in excess of the cost £5,200 included in the accounts. All assets are used primarily for direct charitable expenses. Accordingly depreciation of £22,477 has been charged to Direct Charitable Expenditure. The following assets were acquired during the year but, under the terms of the trust's accounting policy, not capitalised:-

accounting policy, not capitalised:-
£
Carpets and flooring 2,400
Beds 6,728
Equipment renewals 15,534
Grounds and outdoor 469

16 Fixed asset investments

Unlisted
investments
Other
investments
£
£
Cost or valuation
At 1 April 2023
41,286
120
Valuation changes
2,254
-
At 31 March 2024
43,540
120
Carrying amount
At 31 March 2024
43,540
120
At 31 March 2023
41,286
120		 Total
£
41,406
2,254
43,660
43,660
41,406

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

16 Fixed asset investments

(Continued)

Fixed asset investments revalued

Listed investments have been valued at publicly available market value, generally on the mid-market price at the close of business at the year end.

Fixed asset investments not carried at market value

Other investments have been valued at cost, as there is no readily available market value.

17 Financial instruments

Carrying amount of financial assets
Instruments measured at fair value through profit or loss
18
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
19
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
20
Trade creditors
Other creditors
Accruals		 2024
£
43,540
2024
£
158,176
-
16,174
174,350
2024
£
23,614
8,135
26,003
4,875
5,515
68,142		 2023
£
41,286
2023
£
160,179
1,559
14,181
175,919
2023
£
12,348
3,903
31,348
-
4,701
52,300
20 Deferred income
2024 2023
£ £
Arising from fee income 8,135 3,903

Deferred income is included in the financial statements as follows:

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

20
Deferred income
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 April 2023
Released from previous periods
Resources deferred in the year
Deferred income at 31 March 2024
The amount included in deferred income relates to fee income for the next financial year.		 (Continued)
2024
2023
£
£
8,135
3,903
3,903
4,763
(3,903)
(4,763)
8,135
3,903
8,135
3,903		 (Continued)
2024
2023
£
£
8,135
3,903
3,903
4,763
(3,903)
(4,763)
8,135
3,903
8,135
3,903
4,763
(4,763)
3,903
3,903
21 Retirement benefit schemes
2024 2023
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 38,458 34,196

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.

Contributions amounting to £2,862 (2023: £0) were payable to the scheme at the year end and are included within other creditors.

22 Endowment funds

Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

At 1 April 2023Gains and losses April 2023Gains and losses At 31 March
2024
£ £ £
Permanent endowments
27,655 2,503 30,158

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

22 Endowment funds (Continued)
Previous year: At 1 April 2022Gains and losses At 31 March
2023
£ £ £
Permanent endowments
1476 COIF shares 28,743 (1,088) 27,655

The holding of 1476 Charities Official Investment Fund units are held as part of the permanent endowment of the home. The income shares were gifts from G Moore (946) and R Carruthers (530). The Trustees may use the dividends paid to the home for general purposes.

23 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April 2023 Incoming Resources Transfers At 31 March
resources expended 2024
£ £ £ £ £
Sea Dyke Fund 3,718 229 - - 3,947
Dr Hutton Legacy 1,646 - (1,646) - -
Hampshire trust 90,029 2,364 - (5,562) 86,831
95,393 2,593 (1,646) (5,562) 90,778
Previous year: At 1 April 2022 Incoming Resources Transfers At 31 March
resources expended 2023
£ £ £ £ £
Sea Dyke Fund 682 5,082 - (2,046) 3,718
Dr Hutton Legacy 3,494 - (1,848) - 1,646
Hampshire trust 88,960 1,069 - - 90,029
93,136 6,151 (1,848) (2,046) 95,393

The Dr Hutton legacy was used to purchase various items of equipment for the home, the expenditure each year relates to the depreciation on those assets.

The Hampshire Trust Account was set up as an investment opportunity and offered the best interest rates for the amount deposited. The transfer this year relates to the interest earned on this fund which was not re-invested and is deemed to be unrestricted.

The remaining restricted funds are used to fund respite fees for those who qualify.

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

24 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 April 2023
£
General repairs
25,000
Bed fund
4,000
Training fund
5,000
Patients
amentities
3,410
General funds
1,623,635
1,661,045
Previous year:
At 1 April 2022
£
General repairs
25,000
Bed fund
4,000
Training fund
5,000
Patients
amentities
1,238
M Richardson
-
J Slack
438
E Baxter
-
General funds
1,585,316
1,620,992
Analysis of net assets between funds
At 31 March 2024:
Tangible assets
Investments
Current assets/(liabilities)		 Incoming
resources
Resources
expended
£
£
-
(2,400)
-
(6,728)
-
(859)
2,985
(3,413)
1,897,803
(1,839,104)
1,900,788
(1,852,504)
Incoming
resources
Resources
expended
£
£
-
(1,372)
-
(6,079)
-
(2,307)
2,172
-
-
(413)
237
(791)
-
(395)
1,763,686
(1,715,844)
1,766,095
(1,727,201)
Unrestricted
funds
2024
£
983,365
13,502
717,775
1,714,642		 TransfersGains and losses
At 31 March
2024
£
£
£
2,400
-
25,000
6,728
-
4,000
859
-
5,000
-
-
2,982
(4,425)
(249)
1,677,660
5,562
(249)
1,714,642
TransfersGains and losses
At 31 March
2023
£
£
£
1,372
-
25,000
6,079
-
4,000
2,307
-
5,000
-
-
3,410
413
-
-
116
-
-
395
-
-
(8,636)
(887)
1,623,635
2,046
(887)
1,661,045
Restricted
Endowment
Total
funds
funds
2024
2024
2024
£
£
£
-
-
983,365
-
30,158
43,660
90,778
-
808,553
90,778
30,158
1,835,578		 TransfersGains and losses
At 31 March
2024
£
£
£
2,400
-
25,000
6,728
-
4,000
859
-
5,000
-
-
2,982
(4,425)
(249)
1,677,660
5,562
(249)
1,714,642
TransfersGains and losses
At 31 March
2023
£
£
£
1,372
-
25,000
6,079
-
4,000
2,307
-
5,000
-
-
3,410
413
-
-
116
-
-
395
-
-
(8,636)
(887)
1,623,635
2,046
(887)
1,661,045
Restricted
Endowment
Total
funds
funds
2024
2024
2024
£
£
£
-
-
983,365
-
30,158
43,660
90,778
-
808,553
90,778
30,158
1,835,578
1,661,045
Total
2024
£
983,365
43,660
808,553
1,835,578

25 Analysis of net assets between funds

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Analysis of net assets between funds
Unrestricted
funds
2023
£
At 31 March 2023:
Tangible assets
1,004,355
Investments
13,751
Current assets/(liabilities)
642,939
1,661,045		 (Continued)
Restricted
Endowment
Total
funds
funds
2023
2023
2023
£
£
£
1,717
-
1,006,072
-
27,655
41,406
93,676
-
736,615
95,393
27,655
1,784,093		 (Continued)
Restricted
Endowment
Total
funds
funds
2023
2023
2023
£
£
£
1,717
-
1,006,072
-
27,655
41,406
93,676
-
736,615
95,393
27,655
1,784,093
1,784,093

25 Analysis of net assets between funds

Lessee

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

Within one year
Between two and five years
In over five years		 2024
£
23,786
34,125
-
57,911		 2023
£
22,541
49,293
2,923
74,757

27 Related party transactions

Transactions with related parties

The following trustees are involved in the running of and sit on the board of independent trusts who also have dealings with this charity:-

Mr D Hurst - Holme Cultram Sea Dyke Charity (Hon. Member)

Canon B Rothwell, Mr G Wilkinson - The Longcake Charity

The aggregate of donations without conditions from trustees and related parties totalled £2,900 (2023: £5,800)

Two trustees had family members who were residents at the home during the year, no preferential rates or terms have been received by the trustees.

CUMBERLAND AND WESTMORLAND CONVALESCENT INSTITUTION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

28 Cash generated from operations 2024 2023
£ £
Surplus for the year 51,485 41,222
Adjustments for:
Investment income recognised in statement of financial activities (16,423) (7,816)
Loss on disposal of tangible fixed assets 230 -
Fair value gains and losses on investments (2,254) 1,975
Depreciation and impairment of tangible fixed assets 22,477 23,378
Movements in working capital:
Decrease/(increase) in debtors 1,569 (44,712)
Increase/(decrease) in creditors 11,610 (556)
Increase/(decrease) in deferred income 4,232 (860)
Cash generated from operations 72,926 12,631
29 Analysis of changes in net funds

The charity had no material debt during the year.