Statutory Accounts THE PAWSON COTTAGE HOMES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charity Registration No. 226439
THE PAWSON COTTAGE HOMES LEGAL AND ADMINISTRATIVE INFORMATION Trustse Abbeyfield the Dales Limited Directors of Abb8yfield The Dales T P Carroll M J Carter J Connelly l R Hepworth ALHill P Myers P G Myers I Price R G Rawling D Smllh A Massingham A Hunt Charily number 226439 Principal address Grove House 12 Riddings Road LS29 9BF Regisleied office Grove House 12 Riddings Road LS29 9BF Auditor Azets Audit Senri$ Cadlon House Grammar School Street Bradford BD14NS Bankers Barclays Bank PLC Leicester United Kingdom LE87 2BB
THE PAWSON COTTAGE HOMES CONTENTS Page Trustee report Statement of IrustÈe responsibilities Independent audilovs report Statement of financial actilIé$ Balance sheet Notes to the financsal statements 9-14
THE PAWSON COTTAGE HOMES TRUSTEE REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustee present their annual reporl and financial statements for the year ended 31 Maich 2024. The financial stalemenls have been prepared in accc>rdance with the accounting policies sel out in note 1 to the financial s18lernents and comply viilh the charity's trust deed, the Charities Act 2011 and"Aecounting and Reporting by Charities.. Slalémonl of Recommended Practice applicable Its charities preparing their aCCOLJnts in accordan with the Financial Reporttng St8nd8rd applicable in the UK and Republie ol Ireland {FRS 1021" (effective 1 January 20191. Objectives and a¢tivlties The charity's object is the pmvision of almshouses for needy and ijeserving peoplè over the age of 65 years with preferen lo residénts of Ilkley, Wesl Yorkshire and lo spinsters and widows in parti18r. The policies adopted in furtherance of these objects are sel out (>n pages 9 10 14 of this réport and there has been no thange in these during the year. The charity is also known as S Pawson DeceasÈd And Susannah Pawson Trusl. The trustee ha5 paid due regard to guidance issued by the Charily Commission in deciding what aCtitIeS Ihe ¢harity should undertake. Achievemonts and perfom7ance Rèvièw of tha year Thfoughoul the 12 months ending 31 March 2024, the flats continued lo achieve htqh occupancy, with zero voids in Ihe year, and wnlinue to be lull. The TruslÈe ensures that the flats are maintained lo e high standard wlh works during Ihe year ielaling to repairs and improvemenls. W$ continue to woik towards progiamme of installing new boilers across all flats, with another boiler installed in the year. Section 162a of the Charf11es Acl 2011 requires tharities lo make # st8tament regarding fundraing actwilies. The gisl81ion dofines fundraising as °soliciling or otherwise procuring monèy or other property for chaiilable purposes.. The charity does not actively raise funds from the public eilher directly 01 via use of an agent, accordingly no sueh amounts are presented in the financial stateménts for the year under review. The eharily has received no complaints in relation lo fundraising aclivity for the year undor vIeW. Given the nature of the funding of the Charity the Trustee consider that it rematns appropriale not lo be voluntar¢ly bovnd lo be regulated by Ilie Fundralsing Regulator. Section 162a Df thè Charities Act 2011 requires charities to make a statement r8gJrding fundraising aclivilies. Th legislation defines fundiaising as'soliciting or othetwisé procuring money or other property for charitable purposes.. The charity does not actively raise funds from the pijblic Èither directly or via use of an agent. according no such 8rn0unts are presented in the finaniial statements for the year under review. The charity has re¢eivèd no complaints In relation l(> fEJndraising actiwly for the yèar under review. Given the nature of thè funding of the charity the TTus19e considers that Il remains appropriate not to be voluntarily bound to be regulatèd by the Fundraising Regulator. Financlal rèvlaw During the 12 months ending 31 March 2024, the charity generated Income of £42,12712022123- £49,842 for a 15- onlh period),. resident maintènancè charges increased by 5Q/o. lower than the intTalion rates announoed by the otfice for National Statistics al September 2C>22 of 13.2%.. all propertiès were ILtII at the year end and th@y are also cuirenlly full. Total expendilure was £40,179 {2022123- £40,684 for a 15-monlh period). Th8 net incoming resour$ for the 12 months are £1.948 12022123 - £9,158 for a 15-monlh peritsdl. The total reserves as al 3151 March 2024 sland al £454,696 {2022r23 - £452,748 for a 15-month period}-
THE PAWSON COTTAGE HOMES TRUSTEE REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Reserves pollcy 11 is the policy of the charity that unrestricled funds which have not been designated for a specific use should bè maintained 81 a level thal is not less than six month's expenditure. The Iruslee considers that reserves al (his level will ensure that, in the evenl ol g signtficant drop in funding, they will be able lo continuè the charity's current activities while consideration is given to W8ys In which additional funds may be Taised. This level of reserves has been maintained Ihioughout the year. Risk managèment The Tru51eo has assessed the major risks to which the charity is exposed and 18 Satisfied that syslerns are in place to miligale exposu lo the major r¢sks. structure, governance and management The chaiily is unincorporaled arld is govorned by the will of Susannah Pawson deceased, dated 7 February 1945. as amended by a scheme dated 17 October 2011 and a resolub'on dated 25 January 2012. The charity registration number is 226439 8nd the principal office 15 Grove House, 12 Riddings Road, Ilkley LS29 9BF. A corporate Trustee has been appointed and changes in Trustee musl be approved by the Directors of this cornpany. Abbèyfield The Dales Limila(I The Directors of Abbeyfield The Dales Limitéd are: M. Carter l. Hepworth I Price D. Srllilh ALHill R. G. Rawling T. P. Carroll P. Myers (Appointed 26 May 20231 P. G. Myers IAppoinled 26 May 20231 J. Connelly IAppoinled 26 May 20231 A. Massingh8m IAppointed 31 May 20241 A.Hunl (Appointed 31 May 20241 (Company SècrÉtary) (Deputy Chairman) (Chairl TheT slee eport was appr ved by the Board ofTruslee. Abbèylidd the Dales Limited Trustee 27 Septémbèr 2024
THE PAWSON COTTAGE HOMES STATEMENT OF TRUSTEE RESPONSIBILITIES FOR THE YEAR ENDEL) 31 MARCH 2024 The Trustee is responsible for preparing the Ttuslee Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {Unilèd Kingdom Generally Accepted Accounting Praelicel. The law applicable to charities in England snd Wales requires the Trustee lo prepare financial sl8lements for each financial year which give a true and lair view (>f the slsle of affairs of the charity and of the incoming resourees and application of resourcas ol the charily for that year. In preparing these financial $181emenls, the Iruslee are quired lo.. sele¢l suitable accounting policies and then apply them consistently.. observe the methods and principles in the Charities SORP,, tnake judgements and estimatès that arè reasonable and prudent,. slate whethér applicable accounting standards have been followed, subject lo any material dèpartures disclosed and explained in thè financial slatemenls., and prepare the financlal slalomenls on the going concem basis unless il Is Inappropriate lo presume Iltal the tharity wlll continue in operation. The Ttuslae is responsible for keeping sufficient a¢Unting records that disclose with reasonablé accuracy at any lime the financial position of Ihe charity and enable them lo ensure that the financial slatemenli comply wth the Charities A¢1 2011, the Charity (Accounls and Reports) Regulalions 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hèncè for taking reasonable steps for the prevention and detection of fiaud and other irregularities.
THE PAWSON COTTAGE HOMES INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEE OF THE PAWSON COTTAGE HOMES Opinion We have audiled the financAal statements of The Pawson Coltage Homes Ilhe'charity'l for the year 8nded 31 March 2024 which comprise the statement of financial activities, tho balance sheet and notes lo the financial statèmènts, including significant accounting policies. The financial reporting fr8tnework that has been applied in Ihelr prep8r8llon is applicable law and United Kingdom Accounting Standards, induding Financial Rèporting Slandard 1Q12 Th8 Financial Reporting Standard appIlb}e Fn Ihe UK and Republic of Irèl&nd (United Kingdom Genefally Accepted Accounting Practi1. In our opinion, the financial statements.. givé 3 true and fair view ol the stale of the chaTity's affairs as at 31 March 2Q24 and ol ils Incoming resources and 8pplieAtion of resources, for the year then ended., have been properly prepared in accordan¢e with United ngdoM Generally Accepl8d Accounting Practice,. and have been prepared in accordan wilh the r8quiraménts of Ihe Charities Act 2Q11. Basis for oplnion We conductèd our audit in accordance wlPt International Standards ot) Auditing (UK) {ISAs lu) and appli¢ab5e law. Our responsibilities undei those standards are further described in Ihè Auclifors responsibilities for the audit of the financial slalern8nts soction of our report. We are independent of the charEty in accordance with the ethical requirements Ihal are relevant lo our audit ol the financial statements in the UK. including Ihe FRC'S Ethical Standard, and we have fulfilled our other elhicsl rèsponsibilities 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 relatÈng lo going eoneèrn In auditing the financial statements. we have concluded that tha trustee use of the going concein basis of accounting in the prepaialion of the financial statements is appropriat8. Based on the worf( we have performéd, w6 have not identified any material uncertainties relating to events or conditions that. individually or colledively, may cast signtficant doubt on the ¢harily's Ability to continve as a going concern for a period of al least twelve months frorn when the financial slalemenls are aulhorised for issug. Olsr responsibilities and the responsibilities of the trustee respect to going concern are de8cribed in the relevant sections of this report. other information The other information comprises the infoTmalion included in the annual report other than th& financial slalemenls and our audilols report thereon. The Iruslee aTe re$ponsible for the other information contained within the annual report. Our opinion on the financial statements does not ¢over thé other information and we do not express any form of assurance conclusion thereon. Our responsibility is lo resd the othef information ané. in doing so, consider whethèr the other information is m#lerially inconsislenl with the finallcial slalem¢n15 or our knowledge obtained in the course of the audit, or olhÈrwisè appears to be materially misstaled. If we identify such material inconsistenaes or apparent material misstatements, we are roquired lo determine wheth8T this gives risa So a material misstatement in the financial statements themselves. If. based on the work we have performed, wè condud& that there is a malerial misstatement of this other informaln. we are required to report that fact. We have nothing lo rgport in this regard. Matters on whlch we are required to rèport hy èxcèption We have nothing to report in respect of Ihe following malleTS In relation to whieh the Charthes (Accounts and Reports) Regulations 2008 require us lo report to you il, in our opinion.. the information givÈn in the financial stalements is inconsislenl in any material respecl with the trustee report., or sufficient accounting records have not been kept., or the finanual statements are not in agreement with the accoun(ino records-. or we have nol received all the information and explanations we Tequire for our audit.
THE PAWSON COTTAGE HOMES INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEE OF THE PAWSON COTTAGE HOMES Responsibilities of trustee As explained more fully in the statement ol Irusloe responsibllitl?s, th¢ Iruslee are responsible for the preporolion of the financial statements and for being $81isfied that they givo a Iruo and fair view, and for such internal Control as thé trustèe determine is necessary lo enable the preparation ol financial slÈtements that are free from rnalerial misstalemenl. whether due to fraud or error. In preparin9 the financial statÉm8nls. the trustee are respomsible for assessing the charity's abilily to continue as a going COnr, disclosing, as 2pplicabl8, matters related lo going concern and using the going concern basis of accounting unless the trustee elther intend 10 cease operations, or have no realistic allernaliv$ bul lo do SD. AuditoVs re$ponslbllltles for the audit of the financial statements We have boon appointed as auditor under section 144 of the Charities Ael 2011 and report in accordan with the Act and relevant regulations made or having effect Ihereunder. Our objectives are to obtain reasonablè assurance about whether the financial statements as a whole aro freg frorn material misstatement. whether due to fraud or ermr, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level ol assurallce bul is nol a guar3nlèe Ihal an atsdil conducted in accordan with ISAS IUKI will always detect a material misslalement when il exists. Misslalements can arise from Iraud or error and are ttonsiderèd material Èf, individually or in the aggregate. Ihey Uld reasonably bè èxpectéd to infltjence the econornic decisions of users taken on the basis of these financial slalemenls. A further doscriplion ol our responsibilities is available on the Financial Reporting Counal's websile at.. htlps'.11 www.frc.org.uklaudilorsresponsibilities. This description forms part of our auditor's ieport. Extsnt to whlch the audit was consrdèrèd capabl• of datecting irregularities, including fraud Iiregularities: including fraud, are instancès ol non-eomplianee with laws and gUlations. We design procedures in line with our responsibililies, outlined above and tsn the Flnancial Reporting Council's website, to delect material misstalementg in respect of irregularities, induding fraud. We obtain update our understanding of the entity, its activities, Ils control environmènt, and likely future developments, including in relation lo the legal and regulatory framework applicable and how the entity is complying with th8t framework. Baseé on this understanding, we identify and assess the risks of material misslalernenl of the finanal slalements, whether due lo fraud or error. design and perform audit procedures responsive to those risks, and oblain audit ewdence that is sufficient and appioprisle lo provide a basig for our opinion. This includes consideialion of the risk of acts by the entity that were contrary lo applicable18ws and regulations, including fraud. In response to Ihe risk of Irregularities and non-compliance with laws and regulations, Induding frAud, wè dÉsign@d procedures which included.. Enqulry of management and those charged with govèrnancè around actual and polential liligalion and claims as well as a¢tual, suspected and alleged fraud.. Reviewing minutes of meetings of those charged with governance,, Assessing the ex¢ent Df (x)mpliance with the laws and regulations considered lo have a dired material effect on the financial statements or the oparations of the entily ihrough enquiry and inspection., Réviéwing financial slalement disclosures and leslin9 to supporting documentation lo assess compliance with applicable laws and iegulalions., Perfoirning audit work over the risk of managernenl bias 2nd ovèrride of controls, including testing of journal entries and other adjustments for appropriateness, Èvaluating the business rationale of significant transactions outside the normal course of business and reviewing accoullling eslitnales for indicators of potential bias. ecause of the inherènt limitations of an audit, Ihero is a risk that we will not delecl all irregularities, including those leading lo 8 material misslalemenl in the financial 51alomenls or non-compliance with regulation. This risk increases ihe more that ¢ompliance with a law or regulation is removed from thé events and transaotions reflected in the financial slalemenls, a5 we will be less likely lo become aware of inslanttes of non-eomplianca. The risk of not delecling & material mlsslatement resulting frorn fraud is higher Eh8n for one resulting from error, as fraud may Involve Collus, forgery, intèntional omi&8ions, misrepresentations, or the oveiride of inleTnal control.
THE PAWSON COTTAGE HOMES INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEE OF THE PAWSON COTTAGE HOMES other matters Your attention is drawn lo the fact that the charity has prepared flnancial slalemenls in accordan¢è with"Accounting and Reporting by Charities.. Slalemenl of Recommended Praolice applicable to charities preparing their accounts in accoidance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" las amended) in preference lo the Accounting and Reporting by Charities.. Slalemant of Recommended Practice Issyed on 1 April 2005 which is refeed to in the exlanl regulations bul has now bèen withdrawn. This has been done in older for the financial stai&mÉnts lo provide a true and fair view in accordance with current GènÈr8lly Accepted Accoullling Practice. Use of our report This report is made solely lo Ihe charity's trustees, as a body, in accordancè with part 4 of the Charities (AG(x)unts and Report51 RÈgul3tions 2008. Our audil work has been undertaken so that we mlghl slate to Ihe charilys Iruslees those matters we are quired to state lo them in an auditor's report and for no other purpose. To the lullest extent pgrmitled by law. we do not accept or assume responsibility lo anyone other Ihan the charlty and the Gharills trustéès 8s a body, for our audil WOTk, for this report, or for the opinions we have fomled. Allson Whalley Isenior Statutory Auditor) for and on bèhalf of Azets Audlt SeNiGe 27 September 2024 Chartered Accountants ststutory Auditor Carlloll Hous8 Grammar School Street Bradford BD14NS Azets Audit Services is eligible for appointment as auditor tsf thé charity by irirtue of ils eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
THE PAWSON COTTAGE HOMES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlctsd Unrestricted funds funds 42 Months to15 Months to 31 March 31 Mareh 2024 2023 Notes Income from: Charitable activ¢lios income 42,127 49,842 Ex enditure on: Charitable activilies expenditure 40,179 40,684 Net income for the yearl Net movement in funds f,948 9,158 Fund balances as 811 January 2022 IpTior period 1 January 2021) 452,748 443,590 Fund balances as at 31 lthlarch 2023 (prior period 31 December 211 454,696 452.748 The slalemenl of finanaal activ(ties includes all gains and losse6 recognlsed in the year. All income and expendilurtr dérive frorn continuing adlvilies.
THE PAWSON COTTAGE HOMES BALANCE SHEET AS Af31 MARCH 2024 2024 2023 Notey Fixed assets T8ngibl¢ assets 569,225 566.927 Currenl assets Debtors Cash al bank and in hand qo 22,093 6,419 1,288 27.004 28,512 28,292 Creditors: amounts falling due within one year 12 {9,140) 17,9881 Nel current assets 19,372 20,304 Total assets less current liabilities 588,597 589,231 Creditor6: amoutrts fAlling duè aftèr more than one year 13 1133,9011 1136.4831 N&t assets 454,696 452,748 Ineomè funds Unrestricted funds 454,696 452,748 454,696 452,748 Thefi neial siatamenls were proved by the Trustee on 27 September 2024 Abbeyfield the Dales Limited Trusteè
THE PAWSON COTTAGE HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity infomiatlon The Pawson Collage Homes is an unincorporated charity registered in England and Wales. 1.1 Accounting convention The accounts have been prepared in accordance with the charity's Trust deed, the Charities Act 2011 and °Accounling Reporting by Gharilies.. Slalemenl of Recommended Piactice applicable lo charities Preparing their ac¢ounts in aordanCe with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" {as arnended lor accounting periods commencsng frorn 1 January 20161. Th& charity is a Publio Benefit Enlily as defined by FRS 102. The charity has tsken 8dvanl8ge ol the prowsions in th6 SORP for charities applying FRS 102 Updale Bulletin 1 not lo prepare a Statement of Cash Flows. The financial statements have departed from Ihe Charities (Accounts and Reports) Regulations 2008 only lo the exlonl rfsquired lo provide a true and fair wew. This departure has involved following Ihe Slalement of Rewrnmended Pradice for Gharilies applying FRS 102 r*her than the version of the Slatemenl of Recornmended Practice which is iefetred to in the Regulations bul which has since been withdrawn. The financial statements are prepared in sterling, whid) is the lunotional currency of thB chaTity. Monetary amounts in thès8 financial st8t8mènts are rounded to the nearest £. The financi¥l sialemenls have been prepared under the hlslorlcal cost convenllon. The prfndpal ac¢ounling poliaes adopted are sel oul below. Thes8 finan¢lal stalem¢nls ¢over the 15 month period from 1 January 2022 to 31 Marth 2023. The compartive figur85 covgr th8 year ended 31 December 2021. The PBriod end has been changed lo match that of the coiporate Iruslee. 1.2 Going concern At the lime of approving the financial slalements, the Iruslee has a reasonable expectation that the charity has adequale resources to continue in operational existen lor the foreseeable future. Thus the truslee onlinues lo zdopl Ihe going concern basis of accounting in weparing Ihe financial statements. 1.3 Charitablè funds Unreslrioled funds are available for use al the discretion of the Iruslee in furthe¥ance of their charitable objéctives. Thè Charity hss no restricted or endowrnent funds. 1.4 Incomlng resources Incom& is recognised when Ihe chaTlty is legally enlilled lo it, afteT any performance conditions have been m&1, the amounts can be measured reliably and it IS PTobable that income wll be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of Ihg donatioii, unless performance conditions require defe¥ral 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. Legacios 3re recognised on receipt or othenmise if the charity has been notified ol 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.
THE PAWSON COTTAGE HOMES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policles IContinLE8dl 1.5 Resources expended Liabilities are recognised as soon as there is a leg81 or ¢onslrudlve obligation commilling the charily to thè expenditure. All expenditure is accounted for on an accruals basis and has been classified under headlngs that aggregate all cosis related to Ihe category. Charil8ble expendiluro comprises thoso costs incurred by the chaiily in the delivery of its actiwties and services for ils beneficiaiies. 11 indud85 both costs that can be allor3led direolly lo such adivilies and those costs of an indiiecl nature necessary lo support them. 1.6 Tangible fixed assets Tangible fixéd assÈts arè initially measurÈd al cost 8nd subsèquèntly mèasured at cost, net of depreciation and any impairment losses. Depreciation is re¢ogniséd so as to write off the cost or valualion of 2SSèts, lèss théir rèsidual v31ues over their useful lives on the following bases.. Freehold land and buildings Fixtures and fillings 1Q/o per annum- str21ghl line basis 20°/o sITaighl lino basis The gain or loss ar¢sing on the di5POsal of an asset is determined as the difforell between the sale prOedS and the carrying value of the asset and is recognised in the slalemenl of financial a¢livilies. 1.7 Impairn7ent of fixed assets Al each reporting end dale. the ¢harily reviéws thé e2rrying amounts of its (angiblè assèts to d&temina whether (here is any indication th81 those assets have suffered an imp8irment loss. If 8ny such indication exists, the recoverable amount of the 8sset Is eslimaled in order to determine the exlenl of the impairment loss lif any). 1.8 Cash and Cash gquivalents Cash and cash equivalents inolude cash in h3nd, deposrf(s hÈld al call with banks, olh8r short-18rm liquid investments wilh original maturities of three months or less. 1.9 Financial instrumènts Tho charity hès elected to apply the PTovisions of Section 11 'Basic Finan(ial Instrumenls. and Section 12 'Olher FinanGial Instruments Issues, of FRS 102 lo all of its finanoial instruments. Financial instruments arè rècognisèd in the eharily's balance sheèt when the charity bÈeomès party to the eonlractual prowsions of the inslrumenl. Basie flnarteial èssets 8asic financial assets, which include debtors and cash and bank balances, a initially measured at Iransaollon prl¢e including transaction costs and are subsequently carried al amortised cost using the effective interest method unlèss the arrangement Constitutes a financing transaction. where the transaction is measured at the presènt value of the future receipts discounted at a mark&t rate of interest. Financial assets dassified as receivable wilhln one year are not amortised. 10-
THE PAWSON COTTAGE HOMES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinuedl Basle financial liabilities Basic financial liabilities, including creditors and bank loans, are initially r&wgnisÈd at trans8Ction price unless the arrangement constilules a financing transaction, where the debt illslrument Is Ine8sured al the present value of thé futuré payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are Subsequent carr?ed al arnortised cost, using the 9ffeclive Interest rate method. Trade credilors are obligations to Pay for goods or seNices Ihal have been acquired in the ¢xdinary coursè of operations fmm suppliers. Amounts payable are classified as current liabilities il payment is due within one year or less. 11 not, they arè prasènl6d as non-eurrent liabilities. Trade creditors are reGognised inilially al transa¢tion pricè and subsèquéntly mèasured at amortised cost using the effective interest method. Dérécognilk)n of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations èxpirè Dr ar8 discharged or Cancelled. Critical a¢countirtg èstlmatÉs and judgèments In tha application of the chaiily's acGounling policies. the trustee is required lo mak8 judgernents. eslimales 2nd assumptions about the carrwng arnounl ol assets and liabililies that are not readily apparent from other sources. The eslimales and assoaated assumptions are based on historical experien and other factors that are considered lo be r81gvanl. Actual Tesulls may differ from these estimates. The estimates and underlytng assumptions aré revlewèd on an ongoing basis. Revisions to accounting estimates are recognised in Ihe period in which the estimate is rèvisÉd wherè thè rèwsion affects only that period, or in the period of Ihe revision and future periods where the revision affects both curienl and future periods. Charitable activities income 2024 2023 Maintenance charges 42,127 49,842 11
THE PAWSON COTTAGE HOMES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltabl8 actlvltlés èxp6ndltur• 2024 2023 Depreciation and impairmÈnl Establishment costs Repairs and maintenance Subscriptions and donations Legal and professional 6,902 5,432 4,848 282 7,310 7.750 4.738 8,539 236 6.420 24.774 27,883 Share Llf govemance eosls (see note 51 15,4Q5 13.Q01 40,179 40.684 Support costs Support Governance costs costs 2024 2023 Bank charges Loxn inler@sl paid 41 12.364 41 12,364 50 10,251 Audit fees 3,000 3,0 2,700 15,405 15,405 13,001 Analysed between Char*lable aclivilies 15,405 1 S,4()5 13,001 All 5UPPOrt costs are allocated to the one charilablo aclivily. During the P8Tiod £3.00012023 £2.7001 was paid lo the auditor in respect of audit fees. Trusts• During the perlod management ¢h8rues of £5,975 {2023 £5,718) were paid lo Abbeyfield The Dales, the tharily's sole trustee. Employees There wÈra no employees duTing the current or prior year. 12
THE PAWSON COTTAGE HOMES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Taxation The ¢harlly is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationol Chargèable GainsAct 1992 to Ihe extent thal these afe applied lo its charitable objecls. Tangible fixed assets Fr00hold land Flxtures and and bvlldlno8 fltllngs Total Cost At 1 April 2023 Additions 619,962 619.962 7.200 7,200 Al 31 March 2024 619.962 7,200 627.162 Depreciation and impalrment Al l April 2023 Depreciation charged in ihe year 51,035 6,200 51,035 6,902 702 Al 31 March 2024 57,235 702 S7,937 Carrying amount At 31 March 2024 562,727 6.498 569.225 Al 31 March 2023 568,927 568.927 10 Debtors 2024 2023 Amounts falling due wlthin one year: Trade debtors Amounts owed by conneded company Prepayments and acerued income 445 18,931 2,717 439 849 22,093 1,288 13-
THE PAWSON COTTAGE HOMES NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 11 Loans aftd overdrafts 2024 2023 Bank loans 136.516 139,131 Payable within one year Payable after one year 2,615 133,901 2,648 136,483 Amounts induded above which lall due after fivè y&ars'. Payabk by instalmenls 1120,f 351 123,6 The long-term loans are secured by fixed charges over the freehold property. 12 Credltors: amounts falling due wlthln one yaar 2024 2023 Notes Bank loans Trade eredilors Other creditors Arual5 11 2,615 3,525 2.648 1,209 211 3,920 3,01 9,140 7,988 3 Créditors.. amounts falllng due after more than one year 2024 2023 Notes Bank loans 133,90f 136,483 14 R41atsd party transactlons During the period the Charity paid £5,975 {2023 £5,718) in management tharges lo Abbeyfield The Dales Limited, the charity's Sole trustee. Al the yoai end the charity was owed £18,931 12023-1£21111 by Abbéyfield The Dales Lim(ted. 14-