Charity mg1•tIOn number 247935 CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY LEGAL AND ADMINISTRATIVE INFORMATION N Crc¢kett Charity nuner 247935 incipl addm# Hurstleiyh srM"re Lane ch)rted Hertfordshire 35NR Independent examlner Fitsl F. Sheraton House )3 5LH Bankers ional Westminster Flc PO Box 498 13 HvJh Stre8t Chesham HP5 18Q
CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY CONTENTS Trustees. retKYt Imlependent examinerfs report Statement offinarKial aXivit*s Balan sheet Notes lo the finantyal statements 6-13
CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees wesent thew ret)rt and atttsints for the year end•J 31 Marth 2W24. Th& a(ts)unls have been prepared in 8(xxxdar wilh Ihe acuJLmting poIleS set ¢)ut in note 1 to the accounts and comply with the Charty's Injst de8d. Ihe Chafrtvès Act 2011, and-Acthun1ing and Reporting by cfiarities.. Statement of Rernrnended PraCte appli(3ble lo CharIt preparing a&unts in a(xxJrdance with the Financyal Reporting Standard applicable in the UK Rep1 of Iraland {FRS 1021". Obj•ctiv•s and aclivilies The polirAes adopted are in ftjrtherance of the ChariV$ main fw. which is the running of the relirement home knrywn as -HursUeigh" in Shire Lane. chor1ey. The Charty is categorised as a nofvprofit organisation. Previousty the Trust was registered vmh the Corporation as a Registered Swal Landlord. It W8S the opinion of the Trustees that the onerous r&Ft"ng arhj other reryirements of that ststus oulweighed any benefft to the Trust and accordingty it deregi&ered on 17th JY 2C(11. Public ben&fft The aims of the Charity are to provvje. maintain and upgrade secure homes for elderty residents from within the area of ChorleywocJ. The Trust have paJ due regard to guidan issue¢J by the CharTty Commission in déciding what adilIeS the Trust shouhj Ltndertake. Through these aims the Charity pro¥ides a benefft lo the publi¢. Aehievements and lf0Mmn¢e Signifjcant activth$ and aChVernnts against 04le$ The Chaiity was able lo athieve its thiectives. erwiriTrJ enough inc¥)me was raised in tydèr lo ¢)Jnlinue running the retirement h( for the benefft ofthe Current and fure resJents. Flnanclal r•vlew The policy of the Charity is to ensure that enough income raised. primarity from rental inwne. to athieve the objectives slated for the benefft of the current and fijknre rèsthnts. Rental income is set at a I1 which allows for the running exwses of Hurstsgh lo te o)¥ered aTrJ to Iyeate a small c4Jnlirsery kn fThSeen emergenaes. including a shortfau in rentsl in(¥)me. Rgs&rn&$ policy Thèrè We total reserves held at the balan sheet date of £7(.158 (2023: £696.9931. Of these. £nil12023.. £nill were restricted. £384.46912023: £376.043) We ¢Jes•3nated and £341.68912023.. £320,950) wera unrestriL#ed. The total free reserves wwe £341.68912023: £320.950). It is the policy of Ihe Trusl that unrestrtded funds whth have not been designated for a SFeafic use should bg maintained at a level of al least one years experKlrture. The Trustees ts)nsider Ihat resws at this level will ensure th. in the event ol a &gnrficant dTOP in funding, they will be able lo continue the Trusfs fxjrrent actiwties. The level of ieserves has been held signfficantty ab)ve this throughout the year. The Tntstees have major projects planned for thè fuiuie., these wll be fvnded by the ex$5 fijnds hekl in free reseryes. Maiorrisks The Trustees continue to review the major risks to which thg Charity is exposed and take appropiiate stgps which they feol a necessary to enswe Ihat sh rtsks are minimised. Structure. gov•man¢e and manag0Thrt The Tru51 was estsblished by a iarrtable Injst dee11 20th April 1. The obj'ects arg the provision and maintenance of for persons of retirement age. resident or fomty redent wilhin the area of Chorfeywwd.
CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Thg Truste8s who seNed during the year arKI up to date ofsiwatfft of ihe finanrial stalemenls were: N CroLett J Donegan M Morrison New Trustees a appointed by unaniffKws aeelt of Ihe existvig Trustees. hang regard to the skblls n$Sary to ensure the TteeS meet their statulw obligabons. Trustee$ arg introdLwI to the Charitys iesidenlial home and its staff, and relevant PrCdureS and systèms are explained. OryaThsalional stnKture The Trust is wn by its Board of TNstees a1 a Crynmitlee. Day to day owrabon of the charity is delegated lo Simons. who is c(Sidered kèy managewrt person. tt emoyS a warden and deputy wardens to supervise the day to day running of Hursllwgh. RelatSAp wth relatgd paths The Charrty has no connected as deffined by the SoRPArAting aThJ Reporlwig by Chaithes. Promotlng th• 8u¢¢eM ofthe company The fixed assets are stal8d in the aC[ts at tt)sL less depreraatson. The mathet value is CnSIdered to bo in excess of £3 million. The Trustees. report was approved by the Bo¥d ofTr4tees. egan
CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY INDEpENDEr EXAMINER'S REPORT TO THE TRUSTEES OF CHORLEYWOODAND DISTRICT HOMES FOR THE ELDERLY I reF#Ni to the Trustees on my examination of the finarNial ststements of Chorleywocé And District Homes For Tho Elderfy (th8 Tntsl) for the ye eTrJed 31 Marth 2024. R•sponsibilllias and basls of r•port As the Trustees of the Trust you are respOble for the preparntion of the finarhial st8lements in a(xxirdance with the requirements of the Charrknes Act 2011 Ithe 2011 Act). I report in re¥Jec of my examination of the Twsfs finaTh>al s18tements carried out under sectr)n 145 of the 2011 Act. In carryiNJ out my examinab.on I have folk) all the Wicab Dtredions gNen by the Charity Commission under seclkni 14515llb) of the 2011 Aca. Independent examinerfs statement I have completed my examination. I confwm that no malters have come to my attenticffl in nneCtion wrth the examination giving me CaLe to bel Ihat in any material resFd'. ac(¥)unling records We not kept in respeLI of the Tnjst as wuired by seikn 130 of the 2011 Ad,. or the finawal stslements do not a0rd Tth those reo)rds.' 01 Ihe finanaal statements do t compty with the applble requirements ncnIng the forn aThJ c)ntent of acojunts set out in the Chartties (Accounts and R&Fs) Regulalion$ 2CK)8 ¢)ther than any requirement that the acLounts gNe a true and fair whith 1$ not a matler (XMde as part of an independent examination. I h8ve no concems arby have ¢cMne a¢sS no other matters in connection with the examination to which attention should be drawn in epcwl in order to ena eap nderstanding of the finarla1 statem8nts to be r8ached. Nkholas Co mmrn First Floor. sttort Htyjse Lower Road chOrte00d Hertfordshire W03 5LH Dated.. L61,:12024
CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY STATEMENT OF FINANCiALACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Tolal fund• fund• fvnds g•n•rnl dMlgnat•d 2023 2023 neral 2024 2024 2024 2023 Donat)ns and Charitable a¢bviiies Interast Incomè Other inc 620 197.575 620 197,575 203, 5.675 5.245 203, 5,675 5.245 7,597 7,597 Totsl Incom• 214.970 214.970 205.792 ExPendire on: Raising fvnds Charitable acwt 1,157 170,8C¥) 1.157 186.705 189. 15.523 204.7 15.905 Totsl expendire 1.282 15.523 205.805 171,957 15.905 187,862 N•t Incom•ll•xwndltur•) 24,68B 115.523) 9.165 33,835 {15,905) 17,930 Transfers bgfyveen funds (3.9491 {6.821) 6.621 Net movem•nt in funds 20.739 111.574) 9,165 27.214 19,284) 17,930 R•concllkntion of funds: FurKI balances al 1 Awl 2023 320.950 376.043 .993 293,736 385,327 679.063 Fund l•ne at 31 March 2024 341,689 364.469 7(6.158 320.950 376.043 696.993 The slalement of finanual aLivibes IlLJe5 all gaw)s and losses rec£Jnised in the year. All Irne and expenditure delive from o)nlinuiNJ &th"¥ities.
CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Flxod a••ts Tangible assets 11 376,043 Current ass•ts Debtors Cash al bank and in ha1 12 673 351.167 4.118 324.281 351.840 328.399 Crndltorn: amounts falllng due tthln one year 13 (10.151) (7.4491 341.689 320,950 Total ass•ts 1988 ¢urrtnt liabilili 7C6,158 6*,993 The funds of the Tru¥t Unrestri¢te11 fvnds- general Unrestricted fvnds. des¥Jnate4J 17 341.689 ,469 320,950 376,043 7(.153 .993 The financ4al statements re approvgd by the Twstees on ......................... onega
CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting poliGi•8 Charlty InfornHtlon Chorleywood And Districa Homes For The Ehlety 1$ a charitable inc¥)rForalad (ryantsation ICIOI rogislered with the Charity Commissicffl. ajdress is dets1 within the109 and &Jministrati¥o sgclion of the accounts. 1.1 A¢¢ounting cmenlion The finanaal statemènts have been epa in accord ryth the Trusfs dedaration ofInl. the Charities Act 2011, FRS 102 Yhe Finan¢i81 Repwb"rKJ Standard apICable in the UK and Republic of Ireland. fFRS 10YI and th8 Charilies SORP"Acts)unting arKI Repcwting by Charities. Statement of Recommended Pra¢aice applicablè to Lanb"es preparing their accounts in aCCordare with the Financial ReporbrBJ Standard applicable in the UK and Republic of Ireland IFRS 11f21" leff¢di¥e 1 January 20191. Th& Trusl is a Publ Benefft Entity as defin&J by FRS 102. The Trust has laken athrantagg ofthe provisi in the SORP for dre$ not to prepare a Statement of Cash Thg financaal stalemerts are prepared in Sled, whith 1$ th8 furMthl T[enCY of the Trust. Monetary amounts n these financial Statem are rounded to thg nearesl £. finanaal statements ha been wepared under the historp21 ca)st convethn. The princapal acc4JunliThJ polie¥ adopted are set oth b8kh¥. 12 Golng concorn At the time of appro¥ing th8 finaw Ststements. the Truytee5 have a reasorbable expeclation that the Tnjst has adequate resources to ntinue n operallal existence for the foreSeeae firture. Thu$ the Ttea8 continue to adw the goiNJ IxxKem basis of aCCntIng in preparing the finani?al atemwtts. 1.3 Charitable funds Unrestricted funds are avadabl8 for use at Ihe ths(¥et•Jn of the TNstees in fiJlherancg of thwr charitsbl objeolives. DeSnated funds are of the Lmrestrthd funds set aside to te used for a partKwl¥ firture wojec. this is set out in the notes to the aCunts. IA In¢om• Rental incomè is slknvn net of letbng voids arxl ts taken lo the Ijme and Expenditu aoxunt an aoJual$ baws. C%Jnations are lak8n re(ryed. 1.5 Exponditur• Independent examw fees ¥e shMI as govemance costs in the anatysis of rewUr eyrthd. other than fUndra1rj and publi¢ity experw, all other ujsts rdate direclty to the runniNJ of Hurskigh. 1.6 Tanglbl• fixod a•80ts Tangible fixed assets are inrtBIty wa$l1 at o)st aThJ subsequenty measurad at cost crf valuation, n81 of deprecbation aThJ any hjsses. Deprecaation is recognised so as to wiite off thg o)st or valualicffl of assets $5 their residual vabJe$ ovei their usefijl lives on the following bases.. Freehold Buildings Fixtures. ffttings & equikMY*It 2% straht Line 15% Straight knne
CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 AccouThtlng poll¢l•s (Continued) The gain or loss arising on Ihe disposal of an assel rs detemined as the differencÈ betsyeen the sale woceeds and the carryirYJ vu& of the asset. 8rNJ is rwnised in the statement of financial actiwbes. 1.7 Impairnxnt of flxed as8ats At each reporting end date. the T[L1 reviews thè carryin9 amwnts of its tangible assets to determine whether there is any indication that those assets have Suffe an impairmertt k)ss. If arty such indicalion exists. the recoverable amount of the asset is estmated in ordw to detemiine the extent of the impairnnt loss (rf any). 1A Cash and cash •qulvalents Cash and ¢2sh equivajents ÉncJde cash in hand. dewss hekl at call with banks. other short-lemi liquxl investments with original maturibes of thre8 LV less. arnl bank o%er¢lrats. Bank ONErdrafts are shtrwn wilhin borrowngs in current liabilE$. 1.9 Flnanclal Instruments The cyjmpany onty has financi assets and ffinancial lithllies of a kind that qualfy as basic financ4al instruments. Basic finanoal inStrW we inTlity rned at transactJn value and subsequertty measured at amorlised c¥)sl. Ba$k ffnan¢ialassets Basic financAal asset$, vthith debtorn csh and bank balances, are initialty mea$urod at transaclion pri induding transacti(x) costs and are subsequenuy rrIed at amorbsed cost using the effe(aive interest method unless the arraNJement StItuteS a financin9 transadion, Wre thg transaction is measured at the present value of the fijture receipts discounted at a market rale of inte$1. Finan(i81 assets dassified as recowae wittrwn one year are not amorlised. &Y•sic financial liablllll•s Ba$1¢ finan¢ial liabllrts, irU(ng cseditors and bank k)ans are ift81ty re¢zoJnised at transaction price unle the arrangement cijnstrtutes a finan9 tr3nsa("on. Whe the debt instrument is fT>easured at the pre$ont value of the lulure payments dIscotell at a market rate of interest. FInAal liatiilrti8s dassrfd as payable within one year are not amorlised. Debt instruments arg subsequenlty Ca1j at amrfis8d cos( using the effethe Inte$t rate mèthod. Trade creditims a oblwalions to pay for goods or seNros that have t)een acquired4n the ordinay cg)urse of operation$ from supplier5. Amounts payth a dassified as cuThent lialitIeS rf payment 1$ due wrthin one y90r or bess. If not, they are presented as nrIen2 Ih?bilrties. Trade c¥edrtors are recognised initialty at transaclKM price and subsequenlty measure(l at aThti5ed o)st Ung the effective interest meth. Finanual liabilities are derecognised the Trusfs contraclual oUigatK)ns expire or are disthaiged ¢y canclled. 1.10 Employ¢ b•n•ffit• The CO of any unLEed hof eieMent is rgC£gnised in the period in whk ts employoe's Ser¥eS are received. Terminalim benefits are recognised immediatety a5 an expense when the Tntst dernonstrably g)mmrtted to tenninate the employment of an wnFloyee orto provkle terminabon beneffts. Payments lo defined COntribub retirement bwfft Schem a drged as an expense as they fall due.
CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounllng polkl•s {ContlTruodl 1.12 Hou$lng Asso¢latlon Grart Housing Assoaation Grant {FL4G) paNJ by thg HsENj Ctywation to redw the c¥)st of thg initial building development and is thereth strn as a (ledlOn from the )$1 of Fkxjwng Properlies on the Balancg Sheet. HAG is repayable under laIn C1jMstsnces, pnmarity folknving the sale ofthe property but wlll nomialty be restrided to net of sae. 1.13 Extraordlnary r•palrs Costs of maintenance and UFgrading of accommodation, unless represenliThJ Thprovements to the properties. are charged to the RevenueAccount in the year in which they a in(wrred. UnYMtrl¢ted Unre•trl¢ted fundB funds 2024 2023 620 In¢omo fmm chavilable acliyilms Unrnstrict•d Unffgstrl¢t•d ' funds fund5 2024 2023 Rental In¢om• 203.964 197,575 Intrrnstand Oth•r Incon funds 2024 fund 2023 5.245 5,675 7.597 Interest inc( 10.920 7,597 Other incoming resour(x ower interest weibpd. laundry and dub inMe.
CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expendknrn on raknlng funds Unrn•tri¢ted Unrestrl¢tsd fvnd$ funds 2024 2023 Fundr•i¥lng & Publlclty Stsging fvrKlraisirvJ events 838 1,157 Fundrawng aThJ publi¢ity $ts paid unrestrided fur. Exp•ndlthr• on charllable adl¥ltle• Runnlng of Runnlng of Hurntleigh Hurntlelgh 2024 2023 Dlrect ¢08ts Staff costs DeprecIan and irnpairmerrt 102,4 15.523 15,905 118.013 1,513 Share of supportand governance costs Is•e nots 7) Support Govemance 83.447 3.507 78.192 2.0 204,967 186,705 Anatylis by fund Unreslncted funds- gera1 Unrestsicted frjnds. dwnated . 189.444 15.523 170,800 15,905 204,967 186.705
CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support co•ts Supm Gowm•n¢¢ 2024 Support Gov•man 2023 Rates. LvJht and Heat Insurance Legal and Profossi Repairs arKI Maintenance Telephone and Fax Bank Charges Sundry expenses Housekgw'ng 21.705 21.705 21.185 7.872 1.220 21,185 7,872 41.140 1.567 585 41,140 42.769 42.769 2,299 258 2.493 2.493 Independent Examinai 3.507 3.507 83.447 3.507 78.192 80,192 83.447 3.507 78,192 80.192 Governance ci>sts rela1& to payn$ to the indepen(th examiners of £2,CO)12022. £2,Cth) in respec* of their fees None of the Trustees (or any pers rJJnneL#ed wrth them) rec4ived any remuneratth during the year. Employ••8 The avwag8 nwnthty number of employees durry ts year wa$: 2024 Mumber 2023 Numb•r Assistsnt Iwarden Totsl 10-
CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employe IConllnu•d) 2024 2023 VKs and saarres Soc4al secaJrrty o)sts Other pension ¢))sts 97.271 2.758 2.461 1,985 2.317 1(rk.4 During the year key managernent [eOnn did not recep any remuneraticffl for tsir work frytho Tntsl. 10 Taxatlon The ¢hanty is exempt from tax on Ir aThJ gains faIn9 Wtthin seLon 505 of the Taxe5 Ad 1968 or section 252 of the Taxation of Chargeable GainsAct 1992 to the extent that these are appjbed to its charitable objects. 11 Tangl1 fix•d ass•ts Bujdlngs Ilwngs & At 1 Awl 2023 Athjibons 605.427 92.101 697,528 3.949 At 31 March 2024 ei)5.427 701.477 (recialion and Imp•lmwnt At 1 April 2023 Oeprec4atJn charged in the year 238245 12,109 83,240 3.414 321.485 15,523 Al 31 March 2024 250.354 86,654 337,008 Carrylng amwnt At 31 March 2024 355.073 9,3 364.469 At 31 Mart 2023 367,182 8.861 376,043 12 Debto 2024 2023 Amounts falling due T*lthln on• yw. Ppayrnents and acxyued income 673 4.118 11
CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Cr•dilorn: #mounts falllng du• tlthin one year 2024 2023 Other laxab.on and s(1 security 2,785 1.992 2.215 14 Trade tteditors Awual$ 5,374 4,241 10.151 7,449 14 Deferrnd InMe 2024 2023 1.992 Deferred income is M)duded in the financAal atern8 as folknws: 2024 2023 Defarred InMe is iThJud8d within: Current 1k4b11es 1.992 Movements in the year. Deferred income at 1 April 2023 Resources deferred in the year 1.992 Oeferrgd ino)me at 31 Marth 2024 1.992 15 RIrem*t ben•fft s¢home¥ 2024 2023 D•llnod ¢ontrlbution schww• 2.461 2,317 The Trust operates a defined cxjntn'bution pens[( scheme fr)r all qualty'ng employees. The assets of the scheme are hehl separatety from those of the Trust in an independenljy administered fund. 12-
CHORLEYWOOD AND DISTRICT HOMES FOR THE ELDERLY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 An•ty8i• of netassels boiwwn fvnds Tolal nds fvnd• genernl d•slgnat•d 2024 2024 2024 At 31 IAarch 2024: Tangible assets Current assetsllliabilities) 364.469 364,469 341,689 341.689 341.689 364.469 71.158 Totsl fvnd• ynoral dMlgnated 2023 2023 2023 A131 IAar¢h 2023: Tangible assets Current assetslllialxlths> 376.043 376,043 320.950 376.043 .993 17 DosIgn•1 lunds The unrestrXed I1$ of the carity ctMnrxTrse the Unexpeld balarKes of donations and grants whid) are not subject to spe conditsons by donors arKI grantors as to hLM they may be used. These indude designat8d fvnds whK* ha¥R b88n set asth out of LmrestrK#&l funds by the truste8s for speok pU)SeS. . •xp•rKl•d 31 IAar¢h 2024 Tangible asset fvnd 385,328 6,621 (15.9)41 376.043 {15.523) 364,469 385.328 6.621 (15.Wl 376.043 3.949 (15,523) 364.469 The trustees have eslablished a desiwaled lund lo represent the value of the W assets at the year end.. rescMJrces expended represent Ihe dewe0at on assets and transfers represent red asset additions. 18 Ralal•d party trnnsa¢Oo There were disc4osabk relate(1 party Iransaclics duiing the year12023. ncffle). 13-