CHARITY REGISTRATION NUM8ER.' 233499 Boarbank Hall Financial Statements 31 December 2023 ITED Chartered accountants & statutory auditor Second Floor, Riverside Offices 26 St George's Quay Lancaster LA1 1RD Boarbank Hall Financlal Ststements Yèar ended 31 December 2023 Page Trustees, annual report Independent auditorfs report to the members Stalement of financial activities 12 Statement of financial position 13 Slatement of cash flows 14 Notes to the financial statements 15 The following page8 do not fomi part of the financlal statements Detailed statement of financial activities 32 Notes to the delailed statement of financial activities 34 Boarbank Hall Trustees. Annual Report Year ended 31 December 2023 The trustees present their report and the financial statements of the ¢harrty for the year ended 31 Oecember 2023. Ch•ir'¥ r•port Tru$tee3' Appreciation Each year, Boarbank H¥ll benefit5 from the generosty of those peo￿* SUPPOrt the Annual Coff88 M¢ming and those vtho make ind¢vidual donations and bequests. The trustees would wish lo extend their gratitude Its Our IrHlividual donors and volunteers for Ihwr supptsrt lor the charity. Although Ihtr Coffee Morning has not taken ￿¥¢¢ since 2019, the twstees are hopefvl for 11$ return from 2024. Th* trust••$ would also l*e to place on record trb•ir thank$ to thtr emF4oyees for their commitment an loyaty to the Charity. R•f•r•n¢• •nd •dmlnlstrativ• d•tall• R•9l•t•rwl charfty n•m• 8o•rbank Hall Charlty r•glstrntSon numb•r 233499 Prln¢lp•l offl¢• Canonesse$ ol Sl Auguslint Convent ol Our Lady ol Lourd•# Boarbank Hall Allrfhwart• Th• truJt••• Sister Ei18•n Pollard Sister Elizabeth Mary Veronica Connell Audttor Riversth Atcountancy Lancaster Limited Chartered a¢countanl5 8 statutory auditor Second Fkjor, Riverside Offv$ 26 Sl George's Quay Lancaster LA1 1RD Bank•rn Nats'onal W•stmin$lèr LAI 1 6DS Lloyds Bank PIC 6 The High Street Boscom Dorset BH31 3RG Boarbank Hall Trustees. Annual Report (conWnu•d) Year ended 31 December 2023 Solicitors BSG 3&4 Aall)ord Squa Lancaster LA1 1GG Strueturè* govèm•n¢• and m•n•g?m•nt The polici•s ar& d•t6mined by a Council of Sistèrs. Day lo day operatK)ns are closely SLtpervised by the Council of Sisters. Decisions regarding the medical treatment of palionlg are taken by the qualified M*M￿r5 of nursing 51aff together extemal medically qualified persons. The Council of Sisters control the app￿.￿tment, inducb'on and Iraining of Iwsletts. The communty provides $ignthcanl support and access lo the many years experienu of tru$t¢e$' general duties and responsibiliti•$. Rl$k Assessment The Council ol Sisl•rs has conducl•d rt$ ovm re￿•￿ of the risk5 to which 8oarbank Hall is exposed and systems have been established to mitigale those risks. Internal risks are minrmised by the finan¢ial control$ imposed in Tespect of the procedure$ for th• aulhorisats'on of all transactions and projects. The Council of Si$l*rs maintains a ¢b$e ¢onlro1 on the day-to-day operats.on ol the ¢harity in f•$p•¢t of all rts acknvities. 8oarbank Hall has an approved Health an(J Saf•ty poh"¢y. Obj•¢tlve• and act5vltl The principal activity of the ¢h4rty 18 the funning ol a convalescent and nursin9 home. The objeclives of the charity are $•t out in Paragraph 3 of the Tru81 Deed. the principal objects've boing:" To run a convales¢ent home for pople suffering from ￿1r￿S or injury For the ¥5SlStance of a person's recovery of heallh and sti•n9th and for th• nursing of sick and ailing pati•nt$. The 5trategie5 and actiwlies applied to achieve these obiedives rnvolve the uye of Boarbank Hall as nursing and ¢onvalegcenl home run by professi￿?1 qualrfied nursing staff together swth on90ing voluntary support trom the Canonesses of St Au9ustsne. The eharity make$ extensive use of voluntsry un￿ld work from ￿e1Ve 12022." trrtlvèl of the $i$lers who reside on site at Boarbank Hall. Th&y provide signrficant pa$loral and splfrtual care to the patients residing 818oarbank Hall and are responsibk for the day to day administration and running of the charity. The sisters work varied hours in eommrtments rdaled lo their le1￿louS activities. The policies are deterynined by a Councl of Sisters together ￿ the approval of all important finan¢ial transactions. Boarbank Hall Trustees. Annual Report (contin4* Year ended 31 December 2023 Achievements and perfornianc• Tho objectives of the charity of care and treatment of patients al 8oarbank Hall continL*e to b* 8¢hieved through the provision of nu¥sing care of the highest possible stsndafd together wrth palliative and pastoral care as required. The Sisters have conth.nued their aim of updating and •xlen¢Jing the facilities to improve the qualsty of care offered and to meel the changing need5 of Society. This programmè of refurbishment is ongoing ¥8 finan¢e$ permrt. The provision ol this care and treathienl is dependant on the continued eX¢&l￿nI relationship wrth the nur$ing $laff and the implementation of all relevant heatth and safety regulations enabling the charity lo meet with all its legal and moral obligalions and thus continu8 in the future ils charitable activities. Th• main key performance indicators in this ar•• artr near 100% occupancy of fooms. high levels of staff r*tenlion. avaikibility ol spirttual support and Ihe •x¢ellenl facilities anLS seivices provided to patiénl$. The charty has b•en awarded gold $talu$ from the CQC in relatson to th* qualty ol th• ￿re they provide lo patient6. this is ¥ clear indication ol the achievement Ihey h¥ve made against their objectiv•$. Covid 19 has not hinder•d th•ir ability lo meet objectives or prowde th• $am• 4u•lty to patients. however additional funds have been required in order to mi9r•t• ri$k$ and safeguard thè pab'fjnls in Ihelr Care. The eontinu•d support from th• si8ler$ of St Augustine and members ol Ihe public and organisation$ contrnues to be an essential element in th• smooth Tunning of the charity. Boarbank Hall Trustees. Annual Report icothinu• Year ended 31 December 2023 Achievements and p•rfomiance {continu•41J Public Benefil The sislers have ConS￿ered th• Charity Ccthmission's guidance on publK benefit and have had due regard to its content. The aim ol tho ¢horrty 1$ to proV￿e nurwng care and lo assist those recovering from h•alih probl•m$ as stated above in the objectives and activrtjes section. The nur61ng home is open to all members of the public and the convalescents receive suppNI and care a$ n¥￿sSary ¥Mthin the guest houst. subject payment of appropriatè f••s. An imptsrtanl part of the activty of the charty is the proW$￿A of rel￿1¢y$ support and guidance lo those who wi$h rt. Pa$lc*r41 support 1$ Offered as appropnale lo members of the public. Th• Cha￿1 is open for ihe use of the public to attend Sunday Mass which 1$ attended by many members of the local community and visitors to Boarbank Hall. The guast house 1$ availabl• for th• use of thosè on re1￿louS retreats. The chapel is available for th• Ltr$O of guests for worship and reflective cont•mplalion and ¢ourse$ ¥Te available to aid understanding of tho Catholi¢ faith. This facility 19 for the use ol members ol the publK in addition to Mem￿11 ol th• religiou8 Community. Fundraising Actiwlies The charity usually holds an annual fundraising ¢offee morning which raistr5 money towards various projects. They have been unable to hold the event sinc• th• 19 pand•mi¢ therefore £nll {2022.. £nill lincludin9 91ft aid•d ¢Jonalion$ll was r¥i5ed. The tTU51ee5 hope that thi5 will return in the future as st ha$ thays be•n a profitsble day for the charity. Investments and Investrnent Powers Th• Council ol Si$ler$ ¢ontrol$ and approves all important financial transactions. The investments held by the charity consist of quoted and unquoted In￿$1m•nIS. The mov•menl in these inveslm*nl$ c•n be foynd al note 18. Boarbank Hall Trustees, Annual Report Year ended 31 December 2023 Flnancial r•vl•w The results ol the charity are sel out on pages 12-13. Tha net resour¢e$ surplus made during the year ended 31 De¢embèr 2023. after accounting for all recognised gains and losses, was £572.07S {2022.' £440.817}. This ha$ been credited lo fe$¢￿e$ and the balance of £5,510.44912022". £4,938,374) has been carri&d forward During the year. th• charity has in¢urT•d a gain on rts knng lem ¢ash inveBlments wrth Transact and Rathbone$ of £62,800 which 1$ attribLFtable to a mixture of rèalised and unrealised 93ins. As rt is to be held long term. the unr*alis•d movements are not the primary focus and as the market appears lo hav• stabilised after thè uncertainty in thè previous few years. it is hop•d that the investment wll ¢ontinue to appreciate. In 2023 an independent ValUatK￿ w•$ ¢arrnd out on the invostmenl property'es, incTe•8ing their value by £99.69012022. £341,997). The liading activitses of th• tharity cre41• a defiril in m08t years. however the dona1m￿9 and l&ga¢i8fj received enable to charty to conb'nue and prowd• much ne¢ded Support and care for their pabenls to meet the chority objectives. The trustee$ have invested these ¢a$h re$•Th•8 into short lem) deposrts and inve8tm•nl$ lo fvrther the cash reserves available for the futur•. We have seen Ihis year that a¢TOSS the board, tho income h¥v• all increased thi$ year which 1$ a positive svJn ¥ft•r th• Covid 19 pandemi¢ and restrictions. Al the year end th• Charity has reslri¢t*d funds of £291.117 12022. £221.5871 and unr&$lrid•d lund8 of £5.219.332 {2022.' £4.716.7871. The split of funds can be fcwn¢J at note 27. Boarbank Hall Trustees. Annual Report Icontrnu• Year erbded 31 December 2023 Fln•ncial r•vbew {¢onlth¥•dJ Rèserves Policy Under the requirements of Charity Law. the Tnjslees are obliged to dèfine the Charity's policy for holding r*$trves. The intentjon in esta￿l$hing this [￿erVeS policy is to ensuie the continuation ol the Charity'5 activities. The policy wll enable the Charity to meet 115 legal objectives. provide confidence to 5UPPOrter8 and donors seeking to givtr financial support to a prLbdently controlled charity and to ensurtr Ihal th• resetyes are at a ￿Ve1 Sufficient to discharge all of the Charty's obligatsons in the event that rt should ase its operat￿n$. The policy has been that the level of unrestrKt¢d reseryes (excludin9 reserves relating lo fixad assets u$¥d to deliver the ¢haritable i>bjecbve$l should be sufficient to meet design¥ted ¢ornmitmen15 and lo meet the runnin9 Costs of the Chanty for a period not ￿$5 than Six month$ bul no mor• than one y••r. The trustees acknowl•d9e the amount in re$•rves is above the l•vel of the polio bul this is with the anticipation of lulure development al the hom•. To maintain appropriate le￿18 of reser¥e5. the Tru$t•es have deteminod that.. . all lega¢i•s and donations. whi¢h have restri¢tion placed upon t￿M by the temis of thè don•bon, ¥re con$idered to be general r•s•rvas.' capil81 commitments and expen¢Jitur8 plans are wtvrtd periodic•lly and th• fund8 Tequired to finan¢• $u¢h may be removed from general reserye$ as necessary for th? attainment of ils broad objécts,. - funds may, from time lo ts"mt. h d•$KJnated for sp•ofi¢ purposeB. The likely liming of *xp•ndilure ol des￿nated funds is a¥ e¥Wain•d in note 28 Pfin¢ipal Funding Sour￿3 The principal fvnding sources ar• donations from Nidmduals and organi88ttons, payment of nursing fee8 by Cumbria County Council, other Local Authorrties and prNate sources, fundraising activitieg $u¢h as the ¥nnual coffee momin9 and income from bank inlefesl and inve$lments. Further (Jetails may be found in accounting pdi¢ie$. These funding Sources have en8bled the charity lo meet ils objectives by being able to pay for the provision of all $ervices and actMlie$. Plan¥ for futurn perlods The charty will contsnu• to prowde the hi9hÈst level of care wrthin the means ot the ¢hgrty as set out in objectNe$. Trustees Th¢ trustees who Seryed during the year are •$ folow4.'- Mary Veronica Connell- Si$lÈr Elizabelh Mary Eile•n Polkrd- Sister Eilèèn Pollard-superior At any one time. there musl be no more than four trustees and no les$ than Ihree trustees. However pèr the minules during the 2022 year. the communty decided that thèy would continue wlh Boarbank Hall Trustees, Annual Report (¢onthr•dJ Year ended 31 December 2023 Truste￿. responsibilitSes statsm•nt The Iruslees are responsible for preparing the tru$t•es' report and the financtal statements in accordance with applicable law and United KirrfJdom AccoLrnting Standards Iuniled Kingdom Generally A¢¢epled Accounting Practice). The law appli¢able lo chanbes in England and Wales requires the ¢harty trustees to preparè finan¢ial statements for each year which give a true and fair view of the Stat¢ ol affair5 of the charty and ol the In¢offting resources and appli¢ali¢)n of res*)urces. of the charity for that period. In pfeparing these finan¢i•l $talernents. the trustees aro required to.. $•t•¢t $urtable •¢counting policies and then apply them ¢on$i$ltndy.' ob$*rve the methods and prinuples in th• appli¢able Charities SORP.. make jLNlgments and ac¢ounting •stimales that •r• f•asonable and prudent., $tale whether applicabl• UK Ac¢ounting Stsndards have been lolhw•d, $ubj&¢t to any material departure$ disclosed and explained in the finan¢ial $latemertts". prI￿re the financial stat•m•nts on thè goin9 Concem basi$ Un￿5$ rt is inappropriate lo presume that the ¢harity will Mnlinue in business. The trustees are responsibl• lor ke•p'ng a*J•qu•t• 8cg)unD"rMJ Tecords that are $uffiuenl lo show and explain the ¢hanVs transactions and disdose wrth reasonable accura¢y at any trme the financial position of the charity and enabl& them lo •n3ure that the financial stalements comply wrth the Charitres Act 2011. the applicable Charitie5 (Aecounts and Reportg) Regul¥iion5. and the provisions of the Trust Deed. They are also responsible for safeguarding the assets ol the charity and hence for taking reasonabl• $l•p$ for the prevention and det•etion of Iraud and other irregularities. The trustees. annu41 rewrt wa8 approved on 11 October 2024 and $sned on behall of the board of tru$le•$ by.. Sister Eileen Pollard Trustee Boarbank Hall Independent Auditor's Report to the Members of Boarbank Hall Year ended 31 December 2023 Oplnion We have audited the financial ststemÈnt$ of Boarbank Hall (the 'charityl for the year endèd 31 December 2023 vthich comprise the statement of finan¢ial actiwb"es. ststement of financial position. statemènt of ¢aBh flow5 and the related noles. induding a summary of signifi¢ant aGcounting policies. The financial reporting framèwofk that ha5 been applEd in their preparation is applicablè taw and Unite Kingdom Accounting Standards. includin9 FRS 102 The Financial Repo￿ng Standard applicable in the UK and Republic of Ireland Iunited Kingdom Generally Accepled Ac¢ounling PrO¢t￿). In Ouf opinion the fvnan¢ial $tatem¢nt$.' give a true and lair view ol thè $tstÈ of the th#rty's affairs as at 31 December 2023 and of Its incoming resources and applicatson of resources, including 11$ irwme and expenditure, for the year Ih•n •nded'. have been properly prepared in accordance wth Unrt•d lfjn9dom Genef•lty Accepted Accounting Practi￿., have been prepared in accordance wth the requirements of th• Charib"•$ A¢t 2011. 8¥81• for oplnlon We condu¢t•d our audit in a¢¢ord¥n¢e wlh Int¢maty"onal Standards on Audjts'ng IUKI (ISA$ IUKII ¥nd applicable law. Our rèsponsibilities undef thosè standard8 ¥re further described in the audito¢$ Bpon51bilities lor the audit of the financial statements section of our report. We are independent of tha ¢harty in ac¢ordan¢e wlh th¢ elhi¢al r•quifemenls that are relevanl to our audit ol thè finan¢ial $tal¥menls in the UK. including th• FRC'S Ethical Standard, and w• have luifilled our other ethical responsibilth'es in a¢¢or*Jan¢e with these requirements. We believe that the audit ewdonce have obtained is sufficienl and appropriat8 to provide a b8$i$ lor our opinion. Concluslon• r•l•ting to golng ¢on¢•m In auditing the finaneial stat•m•nts. w• have concluded that the trustees, use of the going concern basis of 4¢¢ountiftg In the preparation of the financial stalemenls is appropriatè. Based on Ihe work we have ptsrfomied. we have not id•nlffied any material uncertainties relatr'ng to ev•nt$ or conditions Ihat. individualty or collectwely. may cast S￿nIfICant doubt ort the charity's ability to continuo as a going con¢em lor a period of at ltra$t tsb*lve months from when th& finan¢ial $tstements are authorised for issue. Our r•sponsibilib"e$ and the re$pon$ib1lrt￿ of tru$lee$ wrth respect to goin9 ¢on¢em are de$¢ribed in the relevant sections of this report. Boarbank Hall Independent Auditor's Report to the Members of Boarbank Hall i¢oniiftutd) Year ended 31 December 2023 Othèr Infomatton The other information compris¥s Ihe infomation included in Ihe annual report. other than the financial statements and our audrtor's report thereon. The tTUStees are responsible lor the other inform*ion. Our opinion on the financsal statements does not cover the other inforniation and. except to the extent otherw$• &xpli¢idy stsled in our report. we do not express any fomi ol assuran￿ ¢tsndusion thereon. In Connection wth our aLHIit of the financial statements, our responsibility is to read the other information and. in doing $0. consider whether the other inlormation is materially Inconsistent wth the financial statements or our knovAedge obtainèd In thè audil or otherwise appears to be materially mi$$tsled. If we identify such material inconsistencies or apparent material mi$5tatements, we are required to d&temiin• vtheth*r there 1$ a material misstatement In the financial statemen1$ tsr a malenal m15Statement ol the other informati¢￿. If. ba$ed on th¢ work we have perforn)ed. we ¢ondude that there is a material misstatement of this other informat￿n. wè are r•quire. Boarbank Hall Independent Auditorfs Report to the Members of Boarbank Hall f¢gnWnu¢d) Year endod 31 December 2023 Auditorfs responsibilities for th• audit of the financial stal•monts Our obie¢live$ are Its obtain reasonable assurance about vthether the financAal statements as a whole are free from material misststement, whether due lo fraud or error. and lo Issue an auditor'5 report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guaranteè that an audrt conducted in accordance wth ISAS IUKI will aNvays detect a material misstatement when it exists. Mis$lal*m•nts ean ari$* from fraud tyr error and are considered matenal if, individually or in the aggregate. they could reasonably be expecled lo influence thè e¢onMii¢ de¢i$ions of users taken tsn the basis of these financial statements. Irr•gularities, including fraLKI, are inslan¢e$ of ty)TrwnpFion¢e wth l¥w$ and regulatsons. Vve design procedures in line with our responsibilrties. outlined above. to detect material misstatèmènts in respèct of irregularrtie$, induding fraud. The extent to which our procedures are capable ol detecting irregularitse$. in¢luding Iraud is detailed bekw.. Review ol trustee$ minutes and rev*w ol nominal postings for kngal and professional fees ensured w• identified any regulatory ¢omplianc¢ i$sues and laws that company mu$l foll￿¥ in the year and lo the dale of signing the financtal statements Th• ass•ssm•nt of fraud was con$id•r ¥$ lo the segregation of dubes seen. the low levels of cash handled. A rev￿ of journal entri•s and consideraknon ol th*ir approprialen&¥$ was ¢arried OLrt through the audit During the audit we speak to trusl••s. test th• $ystem$ •nd speak lo v•riou$ members of the finance function Its understand the entity its processes and Ihe natufe of trade to assisl in determining il the financial $lal•m•nts ar• tru• and fair. - Challenging 855umption$ made by managemenl in making their ¥ynrfbcant aceounling •$timat•8. Reviewing linancial statement (*'sdosur• and testing to Suppo￿n9 docum•nlalion lo a$ses$ ¢ompli¥n¢• with applicable laws and regulations Legacies and Donalions are revth¥ed to en$w• no r•$lri¢b"on on fvnd$ ¥f& required lo bo allocated ￿rfre￿ntIY from the common funds. As part of an audit in accordance wth ISAS IUKI, w• ex•rci$• professional jud9menl and maintain piofes*onal $¢eplia$m throughout the audit. We also". Identify and a95ess ihe risks of material misstatement of the financial statements. whether due to fraud or error. desvJn and ￿rforM audrt Pfoctdures responsNe lo those risk5. and obtain audit evidence ihat is suffi'cient and appropriale to provide a basis for our opinion. The risk of not dete¢ting a material misststement r¢$utb"ng from fraud is higher than lof one reSU￿ng from error, as fraud may involve collusion. forgery. intentional omissions, mi$represenlatson$. or the overri¢Je of Internal control. Obtain an understanding ol internal control ￿leVant to the audit in order to design audit procedure$ that are appropriatt in the arcumstanr*s. but not for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness ol accounting pol￿•$ used and th• r•asonablene$$ of a¢￿U￿tIng estimates and related disclosures made by the trustees. 10 Boarbank Hall Indopendent Auditor's Report to the mern￿￿ of Boarbank Hall fconbnuedj Year ended 31 December 2023 Conclude on the appropnateness of the trustees, use of the g￿ng concern basis of accounting and, basèd on th• audit Èvidenetr obtained, whether a material uncertainty exi5t5 related lo events or conditions thal may cast significant doubt on the chan￿S ability to continue as a going ¢on¢ern. If we conclude that 8 material uncertainty exists. we are required to draw attention in our auditor's report to the related disdosures in Ihe finan¢ial slatements or. rf such disdosures are inadequate. to modify our opinion. Our conclustons are based on thè audrt èvidence obtained up to the dale of Our auditor's report. However, fiJlure evenls or cond¢tKms may cause the charsty to cease to conlinLb& as a goin9 ¢on¢*m. Evaluate the overall presentation. structure and content of the financial statements, includin9 the disdosures, and whethei thè finanoal $lalements repftrstnt th• ul￿r￿1￿9 tr¥ns¥¢tsons and events in a manner that achieves fair presentation. We ¢ommuni¢al• with those ¢h#rged yovemance regarding. ¥rnong other matters. the planned scop and timing ol the audit and significant audrt findin9s. In¢ludsn9 any si9nth¢anl deficiènci•$ in int¢mal control that we identify during our avdrt. U•0 ofour rnport This report 1$ made $￿trIY lo the charity's members. as a body, in accordance with section 144 of th• Chariti•s Act 2011 and r•gulats'ons madè under se¢tion 154 of that Act. Our audit work has been undertaken so that we might state lo the chantys mèmbers those matters ￿ af• required to $lal* to them in #n audilorfs report and lor no other purpose. To the fullest extenf peimitted by law, we do not accept or a$sum• r•8ponsibility to anyon• other than the ¢harty and the ¢h•rrty'$ members a$ a body. for our audit work, for this report. or lor the opinions we hav• forned. owden ACA (Senior Statutory Auditor) For and on behalf of Riversid• Accountancy Lancaster Limit•d Chartered accountants & 5talutory audito S*¢ond Floor, Rsv*r$id• Offic•8 26 St George's Quay Lancaster LA1 1RD 11 October 2024 11 Boarbank Hall ststement of Financial Aclivities Year ended 31 Docembor 2023 2023 Restricted funds Total funds 2022 Unfestid•d fvnds Total funds Incom• •nd •ndowm•nts Donations and lega¢ie$ Charitable actiwts'es Other trading activities Investment income Other income 276.600 2,060.361 8.695 54.610 7.238 67.080 343.680 2,060,361 8.695 61,504 7.238 189.603 1.923.339 4,975 43,839 6,046 e.894 Total Incom• 2,407.504 73.974 2.481.478 2.167.802 Exp•ndlture Expenditure on chantable acb'wi Other expendrture 9,10 12 2.061.534 40 10.319 2,071,853 40 1,917,485 Total •X￿nd11Ur• 2,C61,574 10,319 2,071.893 1,917.485 Nel gains on investments 13 156.615 5.875 162.490 190.500 N•t In¢om• •nd n•t mov•m•nt In fund• $02.$4S 69,530 572,075 440,817 Reconcillatlon of funds Total funds broughl lolward Total funds ¢•rrl•d loTh¥•rd 4.716.787 221.587 4.938.374 4.497.556 5.219.332 291.117 5,510.449 4,938.374 Th• $tst*m&nl 01 finan¢ial actiwties in¢ludè$ all gains and losses r•cognised in the year. All income and expendiiure derive from continuing actiwtses. The notes on pages 15 10 30 fomi part of these financlal 5tat•ment•. 12 Boarbank Hall Statement of Financial Position 31 December 2023 2023 2022 Not• Flx•d assèts Tangible fixed assets Investm•nts 18 1,210,965 19 2.853,067 1.151,626 2,575,656 4.064,032 3,727,282 Currènt ai$¢ts Stocks Oebtors Investments Cash at bank and in h4nd 20 21 22 1.700 165.680 478.641 946,780 1,700 169.641 528,122 801.616 1,592,801 1,301,079 Cr•dltorn: •mounts hlllng du• wSthSn on• y•*r N•t ¢urr•nt a*$•ts 148.384 89,988 1,446,417 1,211.091 Total 4$8•ts t￿$ ¢urrnnt Ilabllltl 5,510.449 4,938,373 N•t as#•ts S,S10.449 4.938,373 Funds of th• charSty Restricted funds Unrèstri¢ted lund¥ 291,117 5.219,332 221,587 4.716.787 Total charlty fund• 27 5,510,449 4.938,374 These finanual statement$ were approved by the board of trustees and authorised for issue on 11 O¢lob8r 2024. and are signed on b•haW 01 the board by". Sister Eileen PoI￿rd Tru$l*• Sister Eltiabeth Mary V•ronKa Connell Trustee The notes on p•9•$ 15 to 30 tonn p•rt of tho8• financial s¢at•m•nts. 13 Boarbank Hall Staloment of Cash Flows Year ended 31 December 2023 2023 2022 Not• Cash flows from op•rntlng aetlvltl•s Net income 572,075 440.617 Adjuslmenls for D•pr•¢ialion ol tangible fiyed as$els Government grant incom• Net gains on investments Dividtrnds, Inl*re$t and ren15 from investments Other interest receivabl• and similar in¢om• Interest payable and similar charges Lo$$ on disposal of tsngible fixed ¥8sels Accru•d expens¢s Management Fees paid through Investment 21.810 16,613 15,9531 1190,5001 138.5411 15.2981 1.434 1162,4901 {49,2471 112.257) 2.266 40 11.023 5.759 14.081 5,292 Changes in.. Trade and other deblor¥ Trade and other creditors 48.176 1.280 {80,8351 {53,2191 103.871 Cash gener*ted from operati¢>ns 438.435 Interest paid Interest received 12,2661 12,257 11.4341 5.298 N•1 ¢88h from operating actiwties 448,426 107,735 Cash flows from Inv•stlng •¢tlvSll•s Dividends, interest and rents from investm•nts Pur¢ha$è ol tangible assets Purchas&s ol other Investments 28.447 20,737 {81.1901 1120.5681 1100.000) 11,1251 1152,743) 1100,9S61 Net cash used in inve$ling activiti•$ Cash flows from flnanelng •¢llvrt Government giant income Net cash from financin9 acts'v￿•S 5,9S3 5.953 Net Incr•a8• In ea$h and eash •quivolènts Cash and cash equlvalents at beginnlng of y•ar C•¥h *nd ¢*ih ?qu5v•l•nts at end of year 295.683 1.129,738 12.732 1,117.006 23 1,425,421 1.129.738 The nots8 on pag•s 15 to 30 foTh part of these fin*nc4al stst•m•nts. 14 Boarbank Hall Notes to the Financial Statements Year ended 31 December 2023 G•n•ral Infomutlon The charity is a publi¢ benefrt enbty and a register•d ¢harty in England and Wales and is unincorporated. The address of the pnncipal office is Boarbank Hall, Allithwaite. Grange over Sands, LA11 7NH. stst¢m•nt of ¢¢ffipliance These finan¢ial $tslements have been prepaftd in compliance with FRS 102. 'The Financial Reportir¢g Standard appliCa￿e in the UK and the Republic of Ireland., the Statement tsf Recomrnended Practice applicable to tharrties weparing their a¢¢oun15 In accordance with the Finan¢ial Reptsrtin9 Standard appluble in Ihe UK and Republic of Ireland IFRS 102) Icharitses SORP IFRS 10211 and the Charities Act 2011. Accounting po15cl Bo81• ¢1 prep*ration The finan¢ial $lalemenl$ have been prepared on the historical cost basis, as modrfied by the revaluation of certain finantyal a$sels ¥nd liabilrties al￿ inv•$lment properties measured at fair value through income or expenditure. The financial slat•m•nl$ a￿ prwred in $terfsng. vthich 1$ th& fun¢tional currency of th• •nlity. Th• financial 8ts1emenls are rounded to the n•ar•$t £1. Golng ¢on¢•m Ther• ar• no mat•rial uncertainties thut Ihe charrtl$ •bility lo conts'nue. Judg•m•nts and k•y Sourc￿ ol Mtlmatlon une•rt•inty The preparation of th• fin8n¢xl $tstements requif•S mana9•m•nl to make iudgem•nl8. e$limaltrg and •$8umplions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other la¢t*y$. Induding expectatsons of future events that are believed to be reasonable under th• ¢ir¢um5tances. Forelgn curroncl For•ign ¢urren¢y Iransactiong are initially r•¢orile(I In the funth.onal cu￿ncY. by applying the spot exchange rate a$ at the date of the transaction. Montlary assets and l￿bIlItIeS dènominated in foreign currencies are Iranslate¢J at the èx¢han9e rate wling at the reporting date. wth any 9ain$ or losses being taken to the slatement ol finanual acb"wtse$. 15 Boarbank Hall Notes to tho Financlal Statements (ton Year ended 31 December 2023 Accounting poIicMs {ttsntinuedJ Fund aceountln9 Unrestricled fund$ are available for use al the discretion of th• trustees lo further any of the charitys purposes. DeSwna1￿ fund$ ¥r• unreslncted lund5 eamiarked by the trusleey for particular future project or commitment. Restrict*d fvnds are Subjected to restrictions on their expenditure declared by the donor or through the terms of an appèal, and fall into one ol hyo SUtr￿a$S¢S". r•$tri¢t•d In￿Me fvnds or endowment fund$. Incomlng r•Bource• All incomin9 ￿sOurceS are induded in statement of financwl aCtiVrt￿S when •ntill•m•nt ha$ passed lo the ¢hanty, il is probable that the economi¢ benefit$ as￿￿18¢ed wth the transaction ￿11 Ilow lo the charty and the amount ¢an be reliably measuf•d. The folknmng $p•¢ffic polirAes are •pplied lo particular categories of income. income from donations or grant$ 1$ r•¢ognised when there is evidence of •nliU•m•nl lo th• gift, re¢*ipt 18 prob4ble arKI ils amount can be m•a$ufed r•li•bly. 1•9o¢y income is recognised vth•n rec•ipt 1$ proba￿* and tnt￿ernent 18 establish•d. In￿Me from donated goods is mea$ur•(l al the fair value of the goods unl•s$ thi8 18 impra¢li¢al to measure reliably. in which case the valu• is derived from the cost to the donor or the estimated resale value. Donated tsulities and seNces are recognis•d in the a¢￿unt9 when received If the value can be relsably measufed. No amounts are induded for th• ¢onlribubon ol general volunteers. in¢ome from ¢onlracls for the supply ol serwces 1$ recognised Ihe delivery ol the contra¢ted service. This is dassrfied a$ unfestricted funds unless there is a conlra¢lu¥l requirement for it to be spent on a particular purp￿ and f•tumeil if unspent. in which case it may be r•g•rded as $lri¢ted. 16 Boarbank Hall Notes to the Financial Statements {¢ontinuedJ Year ended 31 Decembor 2023 Accountlng pollel•8 (conUnv•dJ R?sour¢es expend Exptrndrture is re¢ognised on an accruals basi$ a$ a liability Is incurred. Eypenditure includ*s any VAT which cannot be fulty recovered. and is classified under headings of Ihe Slalement of finan¢ial actyvities to which it relates.. ¢xpenditure on raising fund$ includes the costs of all fundraising a¢tivilie8. events, non. charitable trading aCtiwt￿s, and th• salt of donated goods. expenditure on charitable activrti•s includes all costs incurred by a charity in undertaking activities that lurther its charilablts aim$ for the benefit of its beneficiaries, induding those support costs and ¢osts relating to the 9ov•man¢• of the ¢h8rity apportioned to charitabl8 acbvities. other oxpenditure in¢lude$ all expenditure that is neit￿r r•lat•d lo raising fund5 for the charity noi part of Its expendrtuie on chantsble aclivrties. All costs are allocal•d lo exwndilure categories reft•th'ng thè use of the r*$ource. DiT8Ct costs attributable to a single activity are allo¢aled d1￿CtlY lo thal activity. Shar8d costs are apportioned be￿*•n Ihts a¢bvits"es Ihey contribuie to on a r*asonabltr, ju$lrfial)le and con•istent basi8. Support ¢o¥ts Support e08t$ are those Ih¥l assist the Wofk of the charity but do not directly represent charitabl• activrties and include offic• ¢08t$. governance costs. administrativ8 payroll costs. They are incurred dirt¢lly In $upport of expenditure on the obiÈ¢t$ of the charity. Where support costs cannot b* ¢Jirectty attributed to particular he¥ding5 they have been allocated to cost of r•i$ing funds Ind expendittsr• on charitable activities on a basis consistenl wlh use of Ihe resovrces. Op•rntlng 1oas•s Le¥M payment$ *Te recognised a8 an 0X￿n$t over tho le*¥e lerni on a straight-lin• basis. The aggregate ben•fit ol1¢o$e incentives 15 recognised a$ a reduction to expense ovei the lease term. on a slraighl-line basis. Tangibl• ass•ts Tangible a$¥et$ are inrtially recorded at cost, and subsequenljy stated at cost less any a¢¢umulaled depreciation and impaimenl 1035es. Any tangl￿e assets carried at revalued amounts are recorded al the fair value at Ihe date of revaluatiM less any subsequent accumulated daP￿Clat10n and $ub$equenl ar￿M￿lated impairment losses. An increase in the ca￿￿ng amount of an •$5el as a resull of a revaluation, is recogni5ed in other r¢co9nised gains and 1055e5. unless it reverse$ a ¢har9è fov impairment that has previously been recognised as expenditur• within the statement of financsal activTbès. A de¢rea$e in the Carr￿n9 am¢unl of an asset as a result of revaluabon. is recognised in other recognised gains and 1055es, except to which rt off$e15 any previous revaluation gain. In which ca$e the10$$ 1$ shown wrthin other recognised gains and losse$ on Ihe Statement of financial actwikn'es. 17 Boarbank Hall Notes to the Financial Statements f¢ontrn4r¢dJ Year ended 31 December 2023 A¢¢ountlng policles i¢*)n*ttu•dJ D•pr•ciation Depreciation is calculated so as lo write off the Cost or valuation of an asset. less it$ r•$idual value, over Ihe useful economic lrfe of that aswt as folh)ws." Freehold prop•ty Fixture5 and fittings otor vehide3 Equipment 3% reducing balance 15%120% Reilucing balan¢e 25% reducing balancè 15%r20% Reducing balance Inv•stm•nt* Unlisted equity inv•stmenl$ are initialty r•¢ord•d ¥1 cost. and subsequently measurnd at fair valu•. If f•ir v¥lue cannot be reliably measur•d, a$$*t$ af• mea$ure