CLEVEDON CONVALESCENT FUND
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
Charity Commission number- 249313

CLEVEDON CONVALESCENT FUND
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
Contents
Page
Trustees, Annual Report
Referen￿ and Administrative Information
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
10-17

CLEVEDON CONVALESCENT FUND
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 MARCH 2024
The Trustees have pleasure in presenting their rewrt and Ihe independently examined financial
statements of the charity for the year ended 31 March 2024.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity IS an unincorporated association governed by 8 Trust Deed as amended by a High Court
Scheme dated 5 June 1996. as amended 12 April 2021.11 is supported by a constitution.
Management ofthe Fund
This is undertaken by the trustees who oversee the work of the Grants Officer and bookkeeper. The
Grants Officer, who acts as the exiernal liaison between the referees and beneficiaries has
responsibility for managing the workload of the charity. The Trustees have the responsibility of
determining the direction of the Trust and making the decisions on its management and conduct.
Trustees
Trustees are selected by a process of invitation and advertisement. There is a quorum required for
Trustee decision making and a maximum number of 7 Trustees appointed al any one lime. During the
current year Dr Roger Fido joined as Trustee on the 25th of May 2023 taking the current number of
trustees to 6. The Trustees who served the charity during the period and up to the date of this report
are set out on page 6.
When a vacancy arises, potential applicants are invited to apply slating the reasons behind their interest
and their suitabilityfor the post. Al Trustees consider the applicants in a meeting forthe purpose. During
second stage selection applicants may be interviewed in person by nominated Trustees prior lo a final
decision being made.
The positions of Chair, Treasurer and Secretary are filled by working or retired professionals with
diverse backgrounds and a common shared faith. The positions come up for election on a regular basis.
Each appointment is made following careful consideration of the cross transferable skills which the
individual has lo offer from their secular background. If a position is temporarily empty the Trustees will
share the duties and or elect them to a member of the Trustees Board.
Charity employees
The Charity employees continue lo operate with care and due diligence. This year with the introduction
of lighter controls their willingness lo adapt lo and embrace new operating practi￿S has been greatly
appreciated and they are commended for their approach.
Organisation
The Trustees meet regularly as a b(￿Y lo deal wf(h business matters, and weekly in working groups lo
sanction grants and pray for the recipients and their referees. The charity is operated day to day by
the Grants Officer, an employee of the charity.
The charity has continued to operate flexibly ever since the COVID pandemic with meetings
reconvening al the Fund premises bul attendance via the internet assisting staff and Trustees to
Continue to Servi￿ the Fund's needs virtually when illness or Circumstan￿ prevail. Prayer for the
beneficiaries and those touched by the charity has continued on a regular basis and underpins all the
activity of the Charity.
Risk reviow
The Trustees carry out an annual review of the risks faced by the Charity and the manner in which
these are managed. Miligalion of risk is primarily achieved by implementation of effective control
procedures. These ensure a consistent quality of delivery for operational matters and the reassurance

CLEVEDON CONVALESCENT FUND
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 MARCH 2024
of considered authorisations for all transactions and projects. The Trustees constantly monitor the
effectiveness of their working practices for improvement.
This year has seen the submission of grant applications start lo revive. It has also seen an increase in
the number of applications submilled by individual sponsors. The Trustees have reviewed their
practices to ensure that the Fund can continue to operate for the benefit of as many applicants as
possible, across different circumstances. After careful consideration il has been decided that the Fund
should not become lied lo a small number of sponsors. Control of numbers of applications as well as
the timings of grants ensures that the Fund remains independently controlled. The Trustees relain their
ability to make grants across the public spectrum wilhoul the Fund being acTrssed exclusively by
sponsors with limitless need.
Business Continuity
Throughout this year the Charity continued to apply its principles and business operation. The Charity
staff numbers remained the same and the charity commends the staff for their continued support and
adaptability with regard to the hybrid working arrangements that continue lo operate.
The Trustees, numbers have stayed the same overall. In the absence of a Se(retary this year the
Trustees have taken turns in secretarial duties. This will continue until an appropriate Trustee is selected
lo take office. The Charity is currently reeruiting lo bring the numbers lo maximLJm capauty.
OBJECTIVES AND ACTIVITIES
The charity seeks lo help those in need of convalescence, by giving lo beneficiaries of a convalescent
break or an equivalent benefit lo their circumstance in accordance with charities slated objectives. The
focus is upon those who cannot afford the total cost of such relief and for whom an uplift of wellbeing is
possible. This includes..
Persons recovering from sickness, medical or surgical treatment.
People in a weak stale of health who require a change of air, or respfce care., and
Carers of the sick, weak, and vulnerable in need of a break from their duties which benefits
carer and their charge.
ACHIEVEMENTS AND PERFORMANCE
Grants
The number of grant applications received during 202312024 has increased on the previous year from
78 to 91 applications, bul the grants given this year are 87 as opposed lo the 65 of the previous year.
This represents a steady recovery towards pre covid figures. Meanwhile the number of referees has
increased in number from 43 to 45. The number of beneficiaries has gone from 221 to 301. While the
average cost of a grant for this year has increased from £157 per person lo £170 per person. This is
now showing an increase in pre Covid figures and has caused the Trustees and Grant Officer lo operate
a carefully controlled budget. Our investments continue to provide adequate income lo meet the number
of applications that are bestowed.
The return from convalescence continues to be marked wth a gift of flowers and a gospel or gospel -
based tract sent to the beneficiary. This may be a copy of "On Your Marks" or 'So, who is this Jesus?.
a copy of John's Gospel linked with the www.johnsgospel.org.uk website, or other suitable publication.
A bookmark accompanies these, which explains the Trust's intention lo demonstrate the love of Jesus
in a practical way.

CLEVEDON CONVALESCENT FUND
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 MARCH 2024
The Trustees and staff continue lo receive encouragement in their work from the grateful response to
the benefits of the grants and are very pleased lo be atAe to share examples of the relief the often very
different breaks, can bring..
External comment upon the Trusts work
Every application received is supported by prayer. Praise and thanks are given lo our Lord Jesus when
referees report back on the positive impact of the grant of convalescence. 11 is a particular pleasure to
hear where this represents a significant uplift for the beneficiaries.
Feedback from some of the beneficiaries this year include the following and all comments comply with
data protection requirements..
From a beneficiary of a b￿ak taken with carers after hospital 8dmission who said it helped to reduce
his depression because.- 'It helps me see the world and show people that disabilities never stop
us..
From a single mum caring for a son with high Ca￿ needs. The grant prowded 8 break forher and other
family members from a demanding caring role.. "To everyong involved ITn our trip to .
I cannot
thank you enough. We have just got back from the most amaJng weekend away. We have
walked miTles, begn on ridg after ridg, met and had photos with the entire Pgppa Pig family, as
W911 as staying in thg most amazing, friendly, helpfvl hotsl.
Honestly, I cannot say how grateful l am thatyou funded ourholldayy The klds (and grown-upsj)
have had the best time and we have enjoyed spending some much needed tlme as a famlly wlth
the extra l)onus of having Nanny and Grandad there tooll"
A successfulreferee commented as follows." 'As a therapiTSt for the NHS, we deal with lots of trauma
and loss with the people we see and we try and pmvide lor them as much as we can but this
grant has undoubtedly helped with thiTS ladys recovery and healing.
Thls klndness Is somethiTng that wlll touch and beneflt her famlly, whom she strlves to provide
wlth the experiences and love she may not have had herself In the past and It has been a truly
appreciTated addition to the work we have done together over the past year. Kindness is
something thatspreads. Thank you for your time, patiTence and genemsity."
Grants Officer Budget
The Grant Officers budget has increased from £500 to £600 having been static for several years. This
is used where the conventional grant criteria are not present, but it is felt by the Grants OffI￿r that there
are benefits lo a donation. This may be the case where a request is made by a new referee and a
donation under this discretionary budget may be a means lo encourage future convalescence or carers
break holiday grants.
Trustees
The Charity Commission approved the change in number of maximum trustees from 5 to 7.
Charity Employees
The Charity employees continue to operate with care and due diligence and are to be commended for
their control of the budgetary limits that have been set. and their flexibility in operating the new
wotking practices.
Investments
Our investments have been managed in a way designed to provide income from our self-suslaining
fund, wilhoul the need lo resort to the use of public funds or lo necessitate fundraising.

CLEVEDON CONVALESCENT FUND
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 MARCH 2024
Public Benefit
Applications are considered for beneficiaries irrespective of their religious, ethnic, or other background.
In line with the charitls purposes, evident need, plus the qualifying circumStan￿S for an upturn in health
or welfare of the beneficiary, are the main criteria for consideration. These aspects are confirmed by an
involved care professional, or similar person, who is fully aware of the individual circumstances and
makes an application on the beneficiarfs behalf. These individuals are referred to as 'Referees"
Awareness of the charity as a potential Sour￿ of funding comes through many avenues, including..
personal recommendations and word of mouth, interaction with Trustees andlor the Grants Officer,
public witness of the Charities work. discovery of our website, from directories of charities, or
occasionally by an approach direct by the charity to potential Referees. individuals, or organisalions.
The Trustees confirm they have regard to the ongoing guidance given by the Charity Commission
regarding Public Benefit, as initially required by the Charities Act 2011 and are conducting an ongoing
review of the operation of the Charity in light of changes under the Charities Acl of 2022.
Investment Powers
There are no restrictions on the investment powers of the Trustees under ils conslilution. Ethical
investment is considered to ensure that operation of the Trustees, duties in this respect is consistent
with the objectives of the Charity. The Trustee obligations to administer in the best interests of its
beneficiaries, is always paramount.
Legislative Changes
The Trust continues to evaluate the impact of any legal ch8nge upon the Charity and regularly considers
the impact of change in its risk assessments, upon the issue of guidance and following training updates.
FINANCIAL REVIEW
Investment income received fell this year, from £81,559 in 202310 £69,900 in 2024. The charity made
more grants lo individuals in 2024 in light of increased resetves as mentioned below. Total grants
made in 2024 came to £48,24612023'. £35,851 }. Support costs increased slightly, lo £20,526 {2023'.
£19,871). Gains on investments were £76,488, compared with losses of £58,927 for 2023.Therefore
unrestricted resetves increased by £11,065, and Endowment funds increased by £52,777.
Reserves
Free and available cash is held in our current bank account, as a working balance and our cash rese￿e.
The Trustees policy is to retain in the region of 250/0 of ils annual incomeltumover as a cash sum within
the day-104ay current bank account. This is intended lo enable the Fund to accommodate any
unforeseen sudden uptums in expenditure.
If the cash reserves exceed 500/a of the annual income the Trustees are guided to transfer funds into
the investment portfolio, unless they foresee an unusual need in the near future. Since 2022 the cash
reserves have been over the 500/0 reference. This was lo accommodate a potential upsurge antieipaled
in grant applications in the post Covid pandemic era. 11 was anticipated that the Fund would utilise the
surplus that had accumulated 8S 8 result of reduced call on the funds during 2020 and the earfy part of
2021.
Approximately £12k was ulilised in the following year, further funds due to the reserve level and an
unexpected increase in income during 2022123 were allocated lo the grant budget and used. However
at the end of the budget year a sizeable SLJrplus remained. The Trustees instructed the Treasurer to

CLEVEDON CONVALESCENT FUND
TRUSTEES, ANNUAL REPORT
YEAR ENDED 31 MARCH 2024
transfer £20k from the current bank account lo the investment portfolio as soon as was feasible in May
of 2024.
Investment policy
The Trustees aim lo grow the capital base and income of the charity. Brewin Dolphin who has placed
our funds in a variety of investments, are a specialist investment vehicle for charities and have invested
according to our agreed risk level and the long term aims sel out by the Iruslees. We have much
appreciated their expertise and continued guidance on the options always available to the trust.
statement of trustees. responslbllltles
The trustees are responsible for preparing the Trustees, Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards including Financial
Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland
Iuniled Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Iruslees 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
income and expenditure of the charity for that period. In preparing these financial statements, the
trustees are required lo..
select suitable accounting policies and then apply them consislenlly-
observe the methods and principles in the Charities SORP.,
make judgments and accounting estimates that are reasonable and prudent.,
slate whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in the financial statements,. and
prepare the financial statements on the going concem basis unless il is inappropriate lo
presume that the charity will continue in business.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable
accuracy al any lime 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 deedlconslitulion. 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.
Signed by order of the Trustees
Gillian Mantle, Chair of Trustees
Approved by the Trustees on 15 January 2025

CLEVEDON CONVALESCENT FUND
REFERENCE AND ADMINISTRATIVE INFORMATION
YEAR ENDED 31 MARCH 2024
Status
Clevedon Convalescent Fund is a registered charity, governed by a Trust Deed as amended by a
High Court Scheme dated 5 June 1996, as amended 12 April 2021.lts charity registration number is
249313 and is also known as Clevedon Forbes Fund and Forbes Fund.
Trustees
Gillian Mantle
Dr Roger Fido (Appointed 25" May 20231
Frances Mary Kay
Ruth Wilson
Neil Foster
David Clark
Under the Deed there must be no less than three trustees.
Trustees are appointed for a term of five years by a resolution of the trustees al a meeting called
specifically for the purpose.
Principal address
4 Kenn Road,
Clevedon,
North Somersel, BS216EL
Independent Examlner
Joshua Kingston Bsc., ACA,
Burton Sweet Limited,
The Clock Tower,
5 Fadeigh Court,
Old Weston Road,
Flax Bourton,
Bristol, BS48 1 UR
Bankgrs
The Co-operative Bank plc,
Dew House,
Southway,
Skelmersdale, WN8 6SZ
Brewin Dolphin Limited,
The Paragon,
Counterslip,
Bristol BS16BX
Investment managers
Brewin Dolphin Limited, The Paragon, Counlerslip. Bristol BS16BX

CLEVEDON CONVALESCENT FUND
INDEPENDENT EXAMINER'S REPORT
YEAR ENDED 31 MARCH 2024
Independent examinerfs report to the trustees of Clevedon Convalescent Fund
I report to the trustees on my examination of the accounts of Clevedon Convalescent Fund Ilhe Charfcyl
for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of the Charity you are resFX)nsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 2011 I'lhe Act'l.
I report in respect of my examination of the Charity's a￿untS carried out under section 145 of the 2011
Act and in carrying out my examination I have followed all the applicable Directions given by the Charity
Commission un(Jer section 14515llbl of the Act.
Independent examiner's statement
I have completed my examination. I confimi that no material matters have come to my attention in
connection with the examination giving me cause lo believe that in any material respect..
accounting records were not kept in respect of the Charity as required by section 130 of the
Act., or
the accounts do not accord with those records., or
the accounts do not comply with the applicable requirements concerning the form and content
of accounts sel out in the Charities (Accounts and ReFM)rtsl Regulations 2008 other than any
requirement that the accounts give a 'lrue and fair view which is not a maller considered as
part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination lo which
attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be
reached.
Josh Kingston, Bsc., ACA
Burton Sweet Limited
The Clock Tower
5 Fadeigh Court
Old Weston Road
Flax Bourton
Bristol BS48 1 UR
Dale.. 1 S January 2025

CLEVEDON CONVALESCENT FUND
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2024
Unrestricted
funds
Endowment Total funds
funds
2024
Total funds
2023
Note
Income from..
Donations
Investment income
Total income
200
69,900
70,100
200
69,900
70,100
81,559
81,559
Expenditure on..
Cost of raising funds
Charitable activities
Total expenditure
13.974
68,772
82,746
13.974
68,772
82.746
14,054
55,722
69,776
Net gainslllossesl on
investments
23,711
52,777
76.488
158,9271
Net incomel(expenditurel and net
movement in funds
11.065
52,777
63.842
147,1441
Total funds al 1 April
11
694,467
1.510,933
2,205.400
2.252,544
Total funds at 31 March
11
705,532
1.563,710
2,269,242
2,205,400
The charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
The comparative funds are detailed in note 13.
The notes on pages 10 to 17 fomi part of these flnanclal statements

CLEVEDON CONVALESCENT FUND
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Flxed assets
Tangible assets
Investments
58
2,209,341
2,209,399
77
2,156,485
2,156,562
Current Assets
Debtors
Investments
Cash at bank
306
26,614
38,239
65,159
311
19,450
33,418
53,179
Creditors: amounts falling due
within one year
Net current assets
10
5,316
4,341
48,838
59,843
Net assels
2,269,242
2,205,400
Funds
Unrestricted funds
General funds
Designated funds
Endowment funds
12
12
12
33,287
672,245
1,563,710
45,514
648,953
1,510,933
2,269,242
2,205,400
These financial statements were approved by the tnjstees on
their behalf by..
-.15.JanLLaTr.202&........... and are signed on
Gillian Mantle
Chair of Iruslees
The notes on pages 10 to 17 fomi part of these financial statements

CLEVEDON CONVALESCENT FUND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1 Accounting policies
a) The financial statements have been prepared in accordance with the historical cost convention (except
where otherwise stated in the accounting policy nolel and in accordance with the Statement of
Recommended Practice= Accounting and Reporting by Charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS
1021 issued in October 2019, and the Financial Reporting Standard applicable in the United Kingdom
and Republic of Ireland IFRS 1021, and the Charities Act 2011.
The accounts (financial slatementsl have been prepared to give a 'lme and fair, view and 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 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
1021 issued in October 2019 rather than the Accounting and Reporting by Charities.. Slalement of
Recommended Practice effective from 1 April 2005 which has since been wlhdrawn.
The charity is a public benefit entity as defined by FRS102.
There are no material uncertainties about the charity's ability lo continue as a going concem, despite
the continued uncertainty being caused by the national cost of living crisis. Whilst these factors wll
have an impact on Ihe charity's reserves in the coming years, the Trustees expect to be able to
continue the charity's operations, having sufficient reserves lo be able lo meet these challenges.
bl Income is recognised when there is entitlement to receipt.
cl Expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs that relate lo the category. Expenditure includes attributable VAT which cannot be
recovered.
Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of ils
activities and seNices for ils beneficiaries. It includes both costs that can be allocated directly to such
activities and those cost5 of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory
requirements of the charity, these are included within support costs.
d} Grants payable are charged in the year when the offer is conveyed to the recipient except in those
cases where the offer is conditional, such grants being recognised when the conditions attaching are
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a
commitment, but not accrued as expenditure.
e) Tangible fixed assets costing more than £100 are capitalised and included al cost including any
incident81 expenses of acquisition.
Depreciation is calculated 80 as to write off the cost of an asset, less its estimated residual value, over
the useful life of that asset as follows..
Equipment- 25010 per annum reducing b818nce
Investments are stated at market value at the balance sheet date. The SOFA includes the net gains
and losses arising on revaluations and disposals throughout the year.
g) Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounls due.
h} Cash at bank and cash in hand includes cash and short term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
10

CLEVEDON CONVALESCENT FUND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1 Accounting policies Icontinuedl
il Creditors and provisions are recognised where the charity has a present obligation resulting from a
past event Ihat will probably result in the transfer of funds to a third party and the amount due lo settle
the obligation can be measured or eslimaled reliably. Creditors and provisions are normally recognised
at their settlement amount after allowing for any trade discounts due.
Il The charity has arranged a defined contribution scheme for its staff. Pension costs charged in the
SOFA represent the contributions payable by the charity in the year.
k) Unrestricted funds can be used in accordance with the charitable objects at the discretion of the
11 Designated funds form part of unrestricted funds and have been identified as being for particular
purposes by the trustees. They are not restricted and can be transferred to general funds al any time al
the discretion of the trustees. The purpose and likely liming of the use of each designated fund is sel
out in note 11 to the financial statements.
m} Endowment funds represent those assets which must be held permanently by the charity. Income
arising on the endowment fund can be used in accordan￿ with the objects of the charity and is
included as unrestricted income. Investment management charges and legal advice relating to these
funds are charged against these funds.
2 Expenditure on Charitable activities
Unr8stri¢tgd
Funds
Endowment Total funds Total funds
Funds
2024
2023
Grants to individuals
Support costs (see note 31
48,246
20,526
48,246
20,526
35,851
19,871
68,772
68,772
55,722
Included within grants lo individuals is £1,44212023'. £1,302) for flowers and £16 for gospels {2023'. £2}.
All charitable activities expenditure in 2023 was unreslricled.
3 Support costs
Unrestricted
Funds
Endowment Total funds Total funds
Funds
2024
2023
Wages and salaries
staff pension costs
Rent and rates
offi￿ costs
Bookkeeping
Travel & subsistence
Insurance
Governance
Depreciation
13,834
1,327
393
1,750
468
13,834
1.327
393
1,750
468
13,130
1,201
374
1,727
593
18
597
1,992
239
599
2,136
19
599
2.136
19
20,526
20.526
19,871
All support costs in 2023 were unrestricted.
11

CLEVEDON CONVALESCENT FUND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
4 Net incomellexpenditure}
This is stated after charging:
2024
2023
Depreciation
Independent examinerfs fee..
for current year independent examination
for current year accounts preparation
19
239
1,182
954
1,098
894
5 Staff costs and numbers
The aggregate payroll costs were..
2024
2023
Wages and salaries
Other pension costs
13,834
1.327
13,115
1,201
15,161
14,316
No employee received emoluments of more than £60,000. {2023'. None)
The average weekly number of employees during the year was as follows..
2024
No.
2023
No.
Number of staff
The Trustees consider the key management personnel lo be the Board of Trustees and the Grants Officer.
Total benefits paid to key management personnel during the year were £15,161 12023.. £14,316).
No Trustee claimed or waived expenses during the year or the previous year.
6 Taxatlon
The charity is exempl from corporation tax on its charitable activities.
12

CLEVEDON CONVALESCENT FUND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
7 Tangible fixed assets
Equipment
Total
Cost
At 1 April 2023
At 31 March 2024
4,024
4,024
4.024
4,024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
3,947
19
3,966
3,947
19
3,966
Net book value
At 31 March 2024
58
58
At 31 March 2023
77
77
13

CLEVEDON CONVALESCENT FUND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
8 Investments
2024
2023
UK quoted investments
2,235,955
2,175,935
Movement in market value
2024
2023
Market value at 1 April
Acquisitions at cost
Disposal proceeds
Net gainllloss} on rev8lu8tions in the year
Market value at 31 March
2,156,485
294.503
1318.1351
76.488
2,209,341
2,175,336
171,575
{131,4991
58,927
2,156,485
Cash held on investments
26,614
19,450
Total value of investsmenls
2,235,955
2,175,935
Historical cost at 31 March
1,982,803
1,978,864
By Trust Deed, the investments are not subject to the limitations of the Trustee Investments Act.
Quoted investments as at 31 March 2024..
2024
2023
UK Bonds
Overseas Bonds
UK Equities
North American Equities
European Equities
Asia Paufic Equities
Global Investments
Absolute Return
Property
Other Investments
Cash Product
21.667
106.669
421.879
111.185
152.745
30,325
1,124,474
34,985
41,725
44,168
462,109
106,338
167,220
35,550
990,680
36,581
li
45.231
109.781
50.400
2,209.341
48,291
183,843
39,980
2,156,485
Cash held
Brewin Dolphin
26.614
19,450
Total UK quoted investments
2,235,955
2,175,935
14

CLEVEDON CONVALESCENT FUND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
9 Debtors
2024
2023
Other debtors
Prepayrnents
177
129
191
120
306
311
10 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Accruals
Other creditors
24
1,992
2,325
2,136
3,180
5.316
4,341
11 Movement in funds
Incomo and
gains
Expgnditure
and 10ssgs
31 March
2024
2023
Transfers
Unrestricted funds
General funds
Designated funds..
Invested funds
45,514
70,100
182,7461
419
33,287
648.953
23,711
14191
672,245
694.467
93,811
182,7461
705,532
Endowment funds
1,510,933
52,777
1,563,710
2,205,400
146,588
82,746
2,269,242
15

CLEVEDON CONVALESCENT FUND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
11 Movement in funds (Continued)
Prior year comparative
1 Aprll
2022
Income and Expenditure
gains
and losses
31 March
2023
Unrestricted funds
General funds
Designated funds..
Invested funds
33,731
81,559
169,7761
45,514
667,220
118,2671
648,953
700,951
81,559
188.0431
694,467
Endowment funds
1,551,593
140.6601
1,510,933
2,252,544
81,559
1128,7031 2,205,400
The Invested funds are set aside as designated to more clearly show the trustees, intention to use these
funds to generate further income for the charity in the medium lo long term. They are represented by the
unreslricled fund quoted investments shown as part of note 8. This is in line with the historical policy of the
charity to make use of surplus income in this way, and lo maintain its ability to be self-sustaining. Each
year a fixed percentage of 310/0 of the nel gains and losses is charged to the designated fund with the
remainder charged against the endowment fund. This percentage is based on the split of investments
between designated and endowment ftjnd when the portfolio was transferred between agents in 2018.
12 Analysis of net assets
Tangible
flxed assets
other
net assets
2024
Total
Investments
Unrestricted funds
General funds
Designated funds..
Invested funds
Endowment funds
58
33,229
33,287
672,245
1,563,710
672,245
1,563,710
58
2,235,955
33,229
2,269,242
16

CLEVEDON CONVALESCENT FUND
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
12 Analysis of net assets (continued)
Previous year
Tanglble
flxed assets
other
net assets
Total funds
2023
Investments
un￿strICted funds
General funds
Designated funds..
Invested funds
Endowment funds
77
16,049
29,388
45,514
648,953
1,510,933
648,953
1,510,933
77
2,175,935
29,388
2,205,400
13 Comparative funds
Unrestricted Endowmgnt Total funds
funds
funds
2023
Income from
Investment income
Total income
81,559
81,559
81,559
81,559
Expenditure on
Raising funds
Charitable activities
Total expenditure
14,054
55,722
69,776
14,054
55,722
69,776
Net gainsl{losses} on investments
118,2671
140.6601
{58,9271
Net income I lexpenditurel
16,4841
140.6601
{47,1441
Transfer between funds
Net movement in funds
16,4841
140,6601
{47,1441
Total funds al 1 April
700,951
1,551.593
2,252,544
Totsl funds at 31 March
694,467
1,510,933
2,205,400
17