Company Registration Number. 01600678 Charity Registration Number.. 283877 Stallcombe House IA Cornpany Limited by Guarnnteel Group Annual Report and Flnanclal Statements For th8 Perlod Endlng 30th June 2024
Stallcombe House Contents Trustees, Report...................................................................................................................................... 4- 10 Independent Auditors, Report.. Consolidated Statements of Financial Activity 15 Consolidated Balance Sheel......................................................................................................................... 16 Charity Ba5ance Sheel.... . 17 Consolidated Statement of Cash Flows........................................................................................................ Notes lo the Financial Stslements .19-38
Stallcombe House Trustees, Report (continued) Reference and Administrative Details Board Of Trustees User Trustees Mrs Karen Masterton Ichairl Mr lan Murray (resigned May 20241 Mr Chris Retallack Independent Tst8&S Mrs Ann Liverton Mr Robert Stevens (Appointed Jan 2023 resigned Jul 20241 Mr Todd Gifford {Appoinled Apr 2023 resigned Aug 20241 Mrs Renats Colley lappointed Sep 20241 Sl8ff Truste8S Mr Gregory Towning (resigned Aug 2023} Mrs Debbie Davis-Briggs lappoinled Sep 2023 resigned May 20241 Mr Andrew Lotten {appoinled Jun 2024) Senior Management Team Sonia Nye- CEO Carianne Bright- Head of Operations Anrt8 Harper- Head of Finance Iprt) Company Secretary Victoria Eul (Appointed Dec 20241 Principal Office Stallcombe House Sanctuary Lane Woodbury Exeter EX5 1EX Bankers National Westminsler Bank PLC Auditors PKF Francis Clark Sigma House Oak View Close Edginswell Park Torquay TQ2 7FF Solicitors Tozers Broadwalk House Soulhernhay West Exeter EX1 1UA Investment Advisors Fairstone Financial Management {until Jul 2024. Under reviewl
Stallcombe House Trustees, Report (continued) The Trustees, who are Directors for the purposes of Company Law, present their annual report together with the financial statements and auditors, report for the period 1st July 2023 10 30th June 2024 which are also prepared lo m6el the requirements for a Directors, Report and accounts for Companies Act purposes. Objectives and Activities The objects of the charity are.. To provide a supportnie living community for adults with learning drfficulties based on purposeful activities in a farm and garden environment complimented by strong link5 with local communities and services to meet collective and Individual needs. To advance education and promote the physul and mental welfare of people with learning drfficullies. To achieve these aims, the charity provides a safe, warm, and supportive environment. where each resident has his or her own prNate room, a range of activities lo tske part in and lots of wide-open spaces lo explore. The charity Is committed to listening to and understanding our residents, their families, and professionals through consullalion, being forward thinking and by being person cenlred. The charity's residential care operations are fegulaled by the Care Quality Commission which, following its lalesl inspection in March 2022, has rated S serVeS as Good overall and Outstanding under the heading of"Responsive" In common with many charitable care homes, the charrty charges for its services in order to provide sustainable, high-quality care. Charges vary from person lo person dependent upon support nfyeds but are al rates determined by the funding local authority or NHS funding group. Publlc Benofit Activities are planned in line with guidance from the Charty Commission lo ensure not only the people we support benefit but those locally and in the greater community living with or wilhoul a learning disability. The charity doe5 not apply any forrn of re51riclion, geographical or otherwise, to members of the public who wish to make use of ils services. The Iruslees ensure that all activities are purposeful and meet the individual needs of all those wg support in line with section 17 01 the Charities Act 201110 have due regard to the public benefit guidance published by the Charity Commission for England and wa$. Achiavomants and Pgrformance The charity remains commilled lo providing and environment that promotes independence and individuality for our residents. Our for this year has been slabilty for residents and development of our facilities both for residents and staff. We are very much a part of our local community with residents enjoying local shopping trips, local activities. and events as well as holidays in the wider community. Throughout this reporting period our focus has been very much on bringing stability to an often- lurbulenl environment that is care. We have endeavoured to maintain our optimum capacity at 33 (Willows 6 and Slallcombe House 271 lo maximise our Income potential lo ensure the viability of Slallcombe going forward in these turbulent times of changing governments and budgetary restraints imposed on social care.
Stallcombe House Trustees, Report {conlinued) Our building programme has progressed with the completion of the new office building housing the finance team. training o>ordinalor, shift scheduler. a board room, and senior staff. Stage 2 is the creation of four new ensuite bedrooms above our theatre space and these are progressing well with residents eagerfy awaiting their completion and subsequent allocation. The views from the* rooms encompass open countryside and the lors of Dartmoor. This will continue in lo the cottage. Stage 3 will see a new kitchen within the main building that will provide space for food preparation. cooking, serving, washing up, storage and acces5ibilily foi all. This space could also be used for residents to prepare light snacks independenlty or group baking sessions. Monie5 for 811 these projects has been identified and allocated. The board has ulilised rentlY high interest rates lo invest accordingly bringing maximum benefit lo funds that will enhance the lives of those we support today and well into the future. The board of Iruslees acknowledges the generous bequest some years ago from a local supporter of Slallcombe which enabled the recent refurbishment of the Roundhouse to ils former glory adding an accessible toilet and kitchenette to ils design. This area was used during recent months for the people we support to enjoy a night camping out. Rgsidants Fees The board recognises that local authorities are restricting their budgets as determined by local and central government, but this makes providing for ils residents increasingly difficult. Fee uplifts are not subject lo conlraclual agreements therefore we are al the mercy of each authority at eaeh yearly ieview. Our Head of Care Operations and our Finance Manager have spent hours completing endless paperwork. submitting, and often resubmitting lo meet the demands levied only lo receive negative responses wrth no avenue of redress. Factors Relevant to Achi9Voment th the recent upheaval in national govemmenl the care sector wai15 with baled breath lo see what benefits this brings not only lo our organisation bul to the wideT community. We are not alone in feeling the political squeeze on all aspects of care from rising staffing costs, the cosl-of-living crisis that is encompassing all within the sector, fuel and heating costs are soaring and those we support are getting older maybe requiring more care than in their younger years. All this puls extra pressure on our service. and il has seen the board re-evaluate our whole environment lo ensure our fees are covering the basic needs of those we support, and we are not having lo supplement our'extras, as in the farm. the garden and our arts and crafts sludB). Drfficuf( decisions a being addressed and extra funding sought lo maintain these areas, but this is becoming Increasingly challenging. K•y Financial PerfOrnian Indicator8 Unlt 2023 2024 Net lexponditurglllncome 1394,4781 {117,3091 Gains I Ilossesl on Investmènt as8ets 12,247 68.934 Unrestricted ReseNes 5,087,634 4,980.728 Key Non-financial Perforniancg Indlcators We remain monitored by the CQC and the Charity Commission and consult with them periodically lo ensure ongoing compliance in all areas of our responsibilities.
Stallcombe House Truslees, Report Iconlinuedl Finan¢lal R&vlew We remain ever committed and confident in our ability to deliver on all our key aspeels of our financia strategy by ensuring fee uplifts are timely and accurate to meet the needs of those we support, we monitor the markets. through our financial partners, to ensure we make the most ol our funds and investments and we continually invest in our staff to maximise the potential of all that we employ lo deliver a care package second to none. Our financial position is as secure as we can make rt in an ever changing political and financial climate of today. Our investment in the Stalleombe sile is clear and communicated lo all and reflects the needs of those we support as well as the environment and the local community. By investing wisely. we can accommodate all that we wish to achieve IhToughoul this reporting period and into the future The board work closety with the management team and our financial partners lo ensure our investments are as secure and profitable as possible whilst monitoring local and global trends accordingly. These are monitored and updates are made available at every board meeting. With the rising costs of every aspect of the care sedor and local and global costs increasing the political and financial fields are ever changing and we, as a board of Iruslees and senior managers. recognise the need to address these challenges not just al our scheduled board meetings but also al a local level through weekly team meetings. This ensures that all areas of the sile are aware of the challenges laced and can adapt accordingly should the need for action arise. Policy and Re8erve8 The board and senior managers. along with our ffnancial partners, have agreed lo hold a reserve of £6DO,ODO in order to mitigate identified r1sks. This is reviewed al board meetings as is our Investment Policy to ensure il meets the ever-changing financial needs of Slallcombe. Principal Funding Source8 Our principal fvnding source remains on a 4-weekly basis from the ewJhleen local authorities involved in the care needs of all we support. Each amount is specific lo the needs of each individual and therefore varies. Plans for Future Perlod Aims and Objg¢tive$ for Futurg P8riods With the development of our website and online presence increasing we believe we are more than meeting the needs of not only the people we support but the wider community. This has greatly enhanced our recruilmenl potential which in turn reduces our costs for agency staff thus ensuring greater continuity foi the people we support and staff. We aT& continuing our schedule of building works. The monies for this will be drawn from our capital and reserve funds. Activities Planned to Achieve Aims We are excited to have launched a day SerVe al Biclon in January 2025. This is a pilot currently, bul we believe thi5 will align well with our existing activity, provide development opportunilies for staff and an additional incorne stream. Investments and long-term savings- local and global financial markets will be closely monitored by us and our financial partners lo ensure the best returns for our funds. Investments are under active review.
Stallcombe House Trustees, Report (continued) Ensure reviews with local aLJthorilies are carried out in a timely manner and address the individual needs of all those we support consideration being given lo our aging population. Age will not be a barrier lo living al Slallcombe nor will it deter from being a centre of excellenee for the care communrty. Continue lo develop the Stallcombe sile lo its full potential whilst being mindful of environmentsl and ecological needs of the community. Structure, Governance and Management Nature of Govemlng Document The charity is limitsd by guarantee the goveming document being the memorandum and articles of association. The charity is incorporated in England and Wales (Company Registration Number 016006781 and is registered with the Charity Commission (Regislralion Number 2838771. Recruitment and Appolntment of Trustee8 The board is governed by the articles of association in that trustees are appointed al the annual general meeting or co-opted mid-term accordingly Usgr Tnt$tees As per our articles of association ahOUgh al this point there are only two user Iruslees with relatives living in Stallcombè who are and will remain beneficiaries of the charity. Induction and Training of Trustees As above new trustees are appointed al the annual general meeting or co-opted mid-term if necessary Each new Iruslee will have the opportunity to introduce themselves lo the board and senior managers. Once relevant checks are sucSsfullY completed the new trustee will be formally accepted by the board. The new Iruslee will be invited to Slallcombe for a comprehensive induction where they will view the sile, meet residents and staff. They will be officially signed in lo the online Iraining sile and actively encouraged lo complete all mandatory training as undertaken by any new member of the team The charity has appiopriale trustees, indemnty insurance in place. Arrangements for Setting Kay Management Personngl R6mungratlon The salaries of senior managers i.e. Chief Executive Officer, Head of Care Operations and Finance Manager are agreed by the board on a yearly basis after consideration of performance and bench marking against regional pay of similar organisalions. Organlsatlonal Structur• Day lo day running of the organisalion is the responsibility of the senior managers empowered by the trustees. Trustees are invited lo the weekly team meetings as well as four board meetings per year and any other SucomMitteeS they are acts'vely encouraged lo sil upon.
stallcombe House Trustees, Report (continued) Relationships with Interested Partias Stsll¢omb8 Eco Pow&r Ltd This is a wholly owned trading subsidiary of Siallcombe House. Funds held a8 Custodian Trustees on Behalf of Others The charity acts as agent for several of the people we support and collects benefits on their behalf These benefits are paid into a ring-fenced back account which Slall¢ombe House operates as agent. and it Is used lo pay resident's expenses including their contributions lo Stallcombe House's fees. The charity also operates a number of residents, own accounts as their appointee. The balance on these bank accounts on 30 June 2024 was £209.48212023 £199,344). These balances are not included in the statement of financial aclivilies or balance sheet in accordance with the Charitie5 SORP FRS102. Major Rlsks and Management of those Risks Key Personnel Recruilmenl and retention is often challenging al limes. bul this is acknowledged by the Iruslees and risk is managed accordingly The communication strategy adopted by all al Stall¢ombe is vital in ensurino all staff have their say in one forum or another whether rt be through 5tsff Surveys, staff engagement events or the weekly team meetings. Safeguardlng Trustee5 have a diiecl role in managing this risk by ensuring all Standards are met i.e. training, essential reporting platforms In place, thorough investigations carried out by competent staff. Trustees welcome and learn from input from the CQC or Charities Commission. Funding Cut5 Trustees and senior managers are very much aware of how local and national economic situations can have a detrimental effect on funding levels sel by local authorities and this is offset by having adequate reserves in pla at all limes. This is kept under constant review by the Head of Finance and Head ol QperaliDns lo ensure we can support the needs of our residents. The board Tecognises that Tesources are stretched in the care sector Resident Vacancie8 The Iruslees and senior managers understand that having vacancies is delrimenlal lo our income stream bul carry that risk until such time as necessary and essential improvements are made lo the living accommodation of those we support. Unplanned Ev&nts Impacting our Estate and Buildlngs With the ever-changing clirnale both locally and globally Iruslees are vey much aware that the need for ulmosl protection and regular maintenance Is essential lo ensure the lifespan and durability of our buildings. This risk is miligaled by a maintenance programme and ensuring good relations with local tradespeople.
Stallcombe House Trustees, Report (continued) Factors Outside of our Control Our Risk Register is reviewed al every board meeting to ensure that we are able lo mitigate any risks presented such as the renI Covid 19 pandemic. Investment Risk This is regula¥ly reviewed by the board and al the Finance sub<ommittee meetings. Thi5 risk is mitigated by not holding all our reserves in investments but keeping a proportion in cash deposits held by a national bank offering excellent interest rates. Financial Instruments Objectives and Policles The charity manages this risk by only having basic financial instruments. Credit Risk The charity'5 principal financial assets are bank balances and cash, trade and other receivables. and investments. The charity's credit risk is primarily attributed lo ils trade receivables. The amounts presented in the balance sheet are nel of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which. based on previous experien, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds is limited because the counterparties are banks with high credil-ralings assigned by inlemalional credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over several government authorilses. Liquidity R18k In order lo maintain liquidity to ensure that suffieienl funds are 8vaiLgble for ongoing operations and future developments, the charity keeps sufficient unrestrieled reserves in ieadily accessible bank accounts. Further details regarding liquidity risk can be found In the slalement of accounting policies in the financial statements. Creditor Payment Pollcy The charity pays all its debts within the agreed payment terms. Disclosure of Infomiatlon to Auditor Each trustee has iaken steps that they ought to have taken as a tnjstee in orcler lo make themselves aware of any relevant audit information and to establish that the Charity's auditor is aware of that infomalion. The trustees confirm that there is no relevant informalton that they know of and of which they know the auditor is unawaro.
Stallcombe House Trustees, Report (continued) Statement of Trustees. Responsibilities The trustees (who are the directors of Slallcombe House for the purposes of company lawl are responsible for preparing the trustees, report and the financial statements in accordance with the Un((ed Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. Company law requires the trustees lo prepare financial slalemenls for each financial year. Under company law the Iruslees must not approve Ihe financial ststemenls unless they are satisfied that they give a true and fair view of the slate of affairs of the charitable company and its incoming SoUrS and application of resources. Including the income and expenditure, for that period. In prepar4ng these linancial slalements. the trustees are required to.. Select suitable accounting policies and apply them consistently, Observe the methods and principles in the Charities SORP. stste whether applicable UK Accounting Standards have been followed, subject lo any malerial departures disclosed and explained in the financial slalemenls.. and Prepare the financial slalemenls on the going concern basis unless it is inappropriate tr) presume that the charitable company will continue in business. iv. The trustees are responsible for keeping adequate aceounling records that are sufficient lo show and explain the charitable company's transactions and disclose with reasonable accuracy al any time the financial position of the charitsble company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the harilable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Iruslees of the charity on 6 February 2025, and signed on ils behalf by.. Karen Maslerton Chair of Trustees of Slallcombe 10
Stallcombe House Independent Auditor's Report to the Members of Stallcombe House Opinion We have audited the financial statements of Stallcombe House Ilhe 'charitable parent company'l and 115 subsidiaries Ilhe 'group'l for the year lo 30 June 2024. which comprise the Consolidated Statement of Financial Aclivilies, Consolidated Balance Sheet. Charity Balance Sheet. Consolidated Slalemenl of Cash Flows and Notes lo the Financial Slalemenls, including a summary of signrficanl accounting policies The financial reporting framework that has been applied In their preparation is United Kingdom Accounting Slsnd8rds, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and RepLJblic of Ire12nd' and applicable law (United Kingdom Generally Accepted Accounting Praclicel. In our opinion the financial statements.. gwe a true and fair view of the slate of the group's and parent charity's affairs as at 30 June 2024 and of Ihe group's incoming resources and application of resources, including 115 income and expenditure, for the year then ended", have been properfy prepared in accordance with Unile(J Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the Companies Act 2006. Basi$ for opinion We ¢ondu¢led our audit ln accordance with InlernalionaS Standards on Auditing IUKI {ISAs IUKII and applicable law. Our responsibilities under those stsndards are further described in the Aud11orfs responsibilities for the audit of the fi'nancial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant lo our audit of the financial slalemenls in the UK, including the APB'S Ethical Standard, and we have luifilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obiained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concorn In auditing the financial slalemenls, we have concluded that the Iruslees use of the going concern basis of accounting in the preparation of the financial statements is appropriate_ Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, Individually or collectively, may ca51 significant doubl on the group's ability lo continue as a going concern for a period of at least e1ve months from when the original financial statements were authorised for issue. Our responsibilities and the fesponsibilities of the Iruslees with respect lo going eoncern are described in the relevant sections of this report. Other Infom)ation The trustees are responsible for the other information. The other information Comprises the information included in the annual feport, other than the financial slalemenls and our audilorfs pOrt thereon. Our opinion on the financial statements does not cover the other Infomiation and. except to the extent otherwise explicitty staled in our report, we do not express any fomi ol assurance conclusion thereon.
Stallcombe House Independent Auditorfs Report to the Members of Stallcombe House {continued} In connection with our audit of the financial slalements, our responsibility is lo read the other infomialion and, in doing so, consider whether the other information is materially inconsislenl with the financial statements or our knowledge obtained in the audit or olherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstalemenls, we are required lo determine whether there is a material misstalemenl in the financial statements or a material misstatement of the othef information. If, based on the work we have performed. we conclude that there is a material misstalernenl of this other infomialion, we are required to report that fact. We have nothing lo report in this regard. Oplnlon on other matter8 pre8crlbed by the Companiè5 Act 2006 In our opinron, based on the work undertaken in the course of the audit. the infomalion given in the Trusl*s' report, which includes the Directors, report prepared for the purposes of company law, for the financial year for which the financia1 slalemenls are prepared is consislenl with the financial statements.. and the Directors. report included within the Trustees, Report has been prepared in accordance with applicable legal requirements. Matters on which we arn roquirgd to report by gxception In the light of our knowledge and understanding of the group and the parent ¢haritable company and ils environment obtained in the course of the audit. we have not identified material misslalemenls In the Strategic Report and the Trustees. Report. We have nothing lo report in respect of the following matters where the Companies Act 20(6 requires us to report to you il. in our opinion.. adequale accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not be&n ieceived from branches not visited by us.. or the parent charitsble company financial Statements are nol in agreement with the accounting records and retums," or certa1n disclosures of Iruslees remuneralKJn specified by law are not made,. or we have not received all the information and explanations we require for our audit. Rosponsibilitièts of trustee8 As explained more fully in the Slalemenl of Trustees, Responsibilities Isel out on page 101, the Iruslees Iwho are also the directors of the charitable company for the purposes of company lawl are responsible for the preparat4.on of the financial statements and for being satisfied that they give a true and fair view, and for such inlemal control as the Iruslees determine is necessary lo enable the preparation of financial statements that are fe from malefial misslatemenl, whether due lo fraijd or error In preparing the financial slalements. the Iruslees are responsible for assessing the charity's ability lo continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Iruslees either intend to liquidate the charity or lo cease operations. or have no realist altemative but to do so. 12
Stallcombe House Independent Auditor's Report to the Members of Stallcombe House (continued) Audltof8 re$pon$ibilities for the audit of the financial Btatgmonts Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl, whether due to fraud or error, and lo issue an auditor's report that Includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material misslalement when il exists. Miss181emenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial slalemenls. Irregularities, including fraLJd. are instances of non-compliance with laws and regulations. We design prOdreS in line with our responsibilities, outlined above, lo delecl material rllisslalemenls in respeet of irregularities, including fraud. The extent to which our procedures are capable of delecling Irregularit$, including fraud is detailed below.. As part of our audit planning we obtained an understanding of the legal and regulatory framework that is applicable lo the Group. We gained an understanding of the charity and the sector in which the charity operates. and as part of this assessment lo identify the key laws and regulations affecting the charity land group). The key regulations we identified were compliance with the Care Quality Commission I'CQC"). and health and safety regulations. We also considered Ih05e18W5 and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and Charities Act 2011. We discussed with management how the compliance with Ihese18ws and gUlationS is monitored and discussed the policies and procedures in place. We also identrfied the individuals who have responsibility for ensuring that the charity complies with relevant laws and regulatlOn5 and deal with reporting any issues, if they arise. As part of our planning procedures. we assessed the risk of any non compliance with laws and re9ulalions on the company's ability to continue trading and the risk of material misslalemenl lo the accounts. Based on this understanding we designed our audit procedLJres to identify non-compliance with such laws and regulations. Our procedures involved the following.. Enquiries of management regarding their knowledge of any non compliance with laws and regulations that could affect the financial statements As part of these enquiries wè also discusseLI with management whether there have been any known instances, allegations or suspicions of fraud. Reviewed documentation from the CQC regarding inspections, lo confirm compliance with standards, and ensure continued registration with the CQC through the CQC website. Reviewed legal and professional costs lo identify any possible non compliance or legal Costs in respect of non compliance. Reviewed the trustee board minute5 and filings wrth Companies House. Enquiries of management regarding their knowledge of any serious incidents that had been reported during the year lo the relevant authorities Audited the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business ralionale for significant transactions outside the normal course of business, of which there were none. Reviewed estimates and judgements made in the accounts for any indication of bias and challenged assumptions used by management in making the eslimales. 13
Stallcombe House Independent Auditors Report to the Members of Stallcombe House {continuedl Because of the inherent limitations of an audit. there is a risk that we will not delecl all irregularities. including those leading lo a material misslalement in the firnancial 5talemenls. The risk of not detecting a material misstatement due to fraud is higher than the risk of not delecling one resulting from eiror. as fraud may Involve deliberate omissions, collusion, forgery, misrepresenlalions, or the override of internal controls. We are also less likely to become aware of inStsn$ of non-compliance with laws and regulations that are not closely related to events and transactions ref¢ted in the financial slatemenls. A further description of our fesponsibililies is available on the Financial Reporting Council's website al". www.frc.or .uklauditorsres onsibilities. This description fornis part of our auditor's report. Use of our report This report is made solely lo the ¢harilable parent company's trustees. as a body. in accordance wilh Chapter 3 of Part 16 ofthe CoMpanS Act 2006. Our audit work has been undertaken so that we might slate lo the group's Iruslees those mallers we are qUired lo slate lo them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charitable panI company and its trustees as a body. for our audit work, fol this rewrt, or for the opinions we have fomied. Sharon Austen (Senior Slatulory Audilorl PKF Francis Clark Sigma House Oak View Close Edginswell Park Torquay Devon TQ2 7FF 2oLS 14
Stallcombe House Consolidated Statement of Financial Activities for the Year to 30 June 2024 (Including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Note Unrestrlcted Restrlcted Funds Funds Yearto 30 Jun& 2024 Year to 30 June 2023 Income and Endowments from.. Donations and legacies Charitable activities Other trading activities Investment Income Other income 3.827 3.804.738 63.639 54.873 58,137 3.827 5,202 3,804,738 3.488.744 63,639 41,238 S4,873 28,424 58,137 47,731 Totsl income. 3.985,214 3,985,214 3.611.339 Expenditurg on: Raising funds Charrtable activities 197,1341 197,1341 1141,9091 14,063.9201 110.403} 14,074,323113.863,9081 Total expendilijre 14.161.0541 110,4031 {4,171,457114,005,8171 Net lexpendrturellincome before investment gainslllossesl 1175.840} 110.4031 1186.2431 1394.4781 Gainslllossesl on investment assets 14 68,934 68.934 12,247 Net loutgoingsllincome {106,9061 110,403) 1117.309} 1382,2311 Net movement in funds {106,9061 {10,4031 (117.309) 1382.2311 Reconciliation of funds Total funds brought foward 5,087,634 34,009 5.121,643 5,503,874 Total funds carried forward 22 4,980,728 23,606 5,004,334 5.121.643 The slalemenl of financial actwilies includes all gains and losses recognised in the year. Al income and expenditure derive from continuing a¢livilies. The notes on pages 19 10 38 fom part of the financial stslements. 15
Stallcombe House Consolidated Balance Sheet as at 30 June 2024 Note 2024 2023 Fixed assets Tangible assets Investments 13 14 2,439,576 2,010.316 858,826 784.479 3,298,402 2,794,795 Current assots Stocks Debtors Cash at bank and in hand 5.719 7,454 238,088 177,185 1.902.189 2,439.678 15 2.145,996 2.624,317 Creditors: Amounts falling due within ong year 16 1440,064} 1297.4691 Nèt current assets 1,705,932 2,326,848 Net a88èts 5,004,334 5,121,643 Funds of the group.. 22 Restrictèd income funds Reslricled funds 23.606 34.009 Unrè8trict•d income funds Unrestricled funds Designated funds 2,096,848 4.287,634 2,883,880 800,000 Total unrestricted funds 4,980,728 5,087,634 Total funds 5,004,334 5,121,643 The financial slalernenls on page 15 10 38 were approved by the trustees and aulhorised for issue on ..6.-.2...20.1S................... and signed on Iheirbehalfby.. Karen Maslerton Trustee The notes on pages 19 10 38 fofm part ol the financial statements. 16
Stallcombe House Charity Balance Sheel as at 30 June 2024 Note 2024 2023 Fixgd assets Tangible assets Investments 13 14 2,196,574 1.745,873 858,926 784.578 3,055,500 2,530.451 Current assets Stocks Debtors Due within one year Due after one year Cash at bank and in hand 5,719 7,454 15 233,905 57,370 303,892 402.004 1.850,241 2,420,191 2,393,757 2,887,019 Credltor8: Amounts falling due within on9 ygar 16 {434.576} 1290,3381 Net current a$sots 1.959.181 2.596,681 Net assets 5.014.681 5.127,132 Funds of the charity: 22 Restricted funds 23.606 34,009 Unrestricted incomo funds Unreslricled funds Designated funds 2,107,195 4,293, 123 2,883,880 800,000 Totsl unrestricted funds 4.991.075 5.093,123 Total funds 5,014,681 5,127,132 The financial slalements on page 15 10 38 were approved by the Iruslees and aulhorised for issue on ..6..2.. 2025. and signed on their behalf by. Karen Masterton Trustee The notes on pages 19 to 38 form part of the financial statements. 17
Nots Year to Year to 30Jung 30June 2024 2023 Cash flows from operating activities Nel cash lused inllprovided by operating activities Ibelowl 148,9241 1264,4961 Cash flows from investing activitigs Inlerèsl re¢&ivable and similai income Purchase of tarigible fixed assets Purchase of investments Sale of investments Sale of tangible fixed assets $4,873 28.424 1541,5051 1166,4151 244,7671 1176.7871 239,353 171,575 3,481 14 14 Nel cash flows used in investing aclivibes {488,5651 1143,2031 Change in Cash & cash equivalents in reporting period 1537,4891 1407,6991 Cash and cash equivalents at stsrt of period (cash in handl 2,439,678 2.847,377 Cash and cash equivalents al end of perrod (cash in handl 1.902.189 2,439.678 Net loutgoingllincome for the year Iper Statement of Flnan¢lal Activltle8} 1117.3091 1382,231} Adjustments for Depreciation Investment income Revaluation of investments IProfilllLoss on disposal of fixed assets Decrease in stocks Ilncreaselldecrease in debtors (Decreasellincrease in creditors 109,754 93,945 154,873) 128.4241 168,934) 112.2471 19891 1.944 1,735 2.890 160,903) 251,012 142,595 1191,3851 Nel cash flows (used inllprovided by operating activities 148,9241 1264,4961 All of the cash flows are derived from continuing operations. The notes on pages 19 10 38 fomi part of the financial slalemenls. 18
Stallcombe House Notes to the Financial Statements for the Year Ended 30 June 2024 Accounting policies Summary of slgnificant accounting policios and key accounting estimatos The principal accounting policies applied in the preparation of these financial slalernen15 are sel out below. These policies have en consislenlty applied to all the years presented. unless otherwise slated. statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in aordanCe with the Financial Reporting Standard applieable in the UK and Republic of Ireland IFRS 1021 leffeclive l January 20191- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. They also compty with the Companies Act 2006 and Charities Act 2011. Basis of prgparation Slallcombe House meets the definition of a public benefit enlty under FRS 102. Assets and liabilities are initially recognised al historical cost or Irans8clion value unless otherwise slated in the relevant accounting policy notes. The presentation currency is £slerling and the accounts have been rounded to £1. The charity is incorwrated in England and Wales. Ils registered office is shown in the Trustees Report. No slalemenl of financial activities is presented for the charity as permilled by section 408 of the Companies Act 2006. The charity had a deficit for the financial year of £113,167 12023 deficit £428.3791. Basis of con$olidation The consolidated financial slalemenls consolidate the financial slalements of the charity and ils wholly owned trading subsidiary. The charity's subsidiary has been sel up lo generate electricity using a solar array. All profits of the subsidiary will be gift aided back lo the charity to promote ils main aims. Inler-company transactions. balances and unrealised gains on transactions beeen the charity and its subsidiaries. which are related parties, are eliminated in full. Going Concern The financial slalemenls have been prepared on a going concern basis The trustees assess whelher the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast signrficant doubl on the ability of the charity lo continue as a going concem. The trustees make this assessment in respect of a period of one year from the date of approval of the financial slalemenls and they have concluded that il is appropriate to complete the accounts on a going concern basis. 19
Stallcombe House Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) Accounting policios Icontlnuedl Judgements In the application of the charity's accounting policies, management is required lo make judgements. estimates and assumptions aboullhe carrying value of assets and liabilitie5 that are not readily apparent from other sources. The eslimales and unclerlying assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. Key sources of estimation uncertainty Depreciation ol tangible fixed assets. This is by nature an estimate and the actual market values of assets may be drfferenl lo the values presented in the accounts. Incom• All income is recognised once the charity has entitlement lo the income, it is probable that the ineome will be received and the amount of the income receivable can be measured reliably. 11 is slated after trade discounts, other sales taxes and nel of VAT. Donations and legacies Voluntary Income including donations, grFts, legacies and grants is recognised when the charity has enlillemenl lo the income. il Is Pfobable that the income will be received and the amount can be measured with sufficient reliability. Charitable activities Income from charitable activities includes income re¢ognised as eamed las the related good5 and services are provided) under contract. Other tradlng a¢tlvltles Shop income and income derived from events is recognised as eamed Ithal is as the related goods and services are provided) Investment income Investment income is recognised on a recewable basis. Other Income Feed in larifflrenewable healing incentive incorne is reeognised as earned Ilhal is, as the power is produced). Expenditure All expenditure is recognised On there is a legal or conslruclive oblallOn lo make a payment, il is probable settlement is required and the amount can be measured reliably. Expenditure is classified under the following actwity headings.. Raising funds These are costs incuffed in attracting voluntary income, the management of investments and those Incurred in tralg activf(ies that raise funds. Charitablg activitios Includes the care costs of the residents and daycare visitors, other activities undertaken lo further the main purposes of the charrty and their assoctated support costs. 20
Stallcombe House Notes to the Financial Statements for the Year Ended 30 June 2024 Icontinuedl Accountlng pollcies {contlnuodl Support costs Support costs are those functions that assist the work of the charity bul do not dire¢lly undertake charitable activities. Support costs include finance, adminislralion and governance costs which support the Irusl's main aims and activities. These costs have been allocated lo charitable aclivilies. Govemance costs These include the costs attributable to the charity's compliance with constitutional and slalutory requirements, including audr(, strategic management and Iruslees, meetings and reimbursed expenses. Tangible flxed assets Individual fixed assets costing £100 or more are ini118lly recorded al cost, less any subsequent accumulated depfecialion and subsequent accumulated impairment losses. Depreciation and amortisatlon Deprecialion is provided on tangible fixed assets so as lo write off the cost or valuation, less any estimated residual value. over their expected useful economic lrfe as follows.. Asset class Freehold interest in land and buildings Solar panels (Solar arrayl Bio-mass boiler Farm plant Fixtures. fittings and equipment Motor vehicles Computer equipment Property refurbishments Assets under construction Deprociatlon mgthod and rate 2% straight line {buildingsl 4Qkn slraighl line15% slraighl line) S°k slraighl line 20% reducing balance 20% reducing balance 20% redueing balance 25°A straight line 6.67% straight line Impaimient of fixod assets Fixed assets are regularly feviewed for impairment. The Group has adopted a policy to wrile off items of fam planL fixtures, fittings and equipment over 12 years old and computer equipment that is over 7 years old. Flxed a$$gt investmonts Fixefj asset investments are included al market value using the bid price ruling at the balance sheet dale. Realised gains and losses on inve51menls are calculated as the drfferenee beNveen sales proceeds and their matkel value al the start of the year. or their subsequent Cost, and are Charged or credited to the Slalemenl of Financial Aclivrties in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged lo the Statement of Financial Activities based on the market value al the year end. Al the year end. the charity is exposed lo the risk that the value of the investments may fall. Investment in the subsidiary is recognised al cost. 21
Stallcombe House Notes lo the Financial Statements for the Year Ended 30 June 2024 (continued) Accounting policles l¢ontinu•dl stock Stock is valued at the lower of cost and eslimaled selling price less costs lo complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the firsl-in. first-out IFIFOI method. Tradg debtors Trade debtors are amounts due from customers for fami products sold or services perfomied In the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently reviewed for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able lo collect all ?mounls due according lo the original terms of the receivables. Other debtors include the amounts due in respect of residents fees. Cash and cash equivalonts Cash and sh equivalents comprise cash on hand and call deposrts. and other short-torm highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary urse of business from suppliers. Accounts payable are classified as current liabilities if the Group does not have an unconditional right. al the end of the reporting period. to defer settlement of Ihe creditor for al least e1ve months after the reporting date. Trade cred((ors are recognised al their settlement amount after allowing for any trade discounts dLte. Fund structurn Unreslricled income funds are general funds that ale available for use at the truslees's discretion in furtherance of the objective5 of the group. Designated lund5 are unreslricled funds that the charity has set aside for a specific purpose. Thore is no legal force for the designations. Restricted income funds are those donated for use in a particular area or for specrfic purposes. the use of which is resliicled lo that area or purpose. Ponslons and other post retirement obligations The Group offers a defined contribution pension scheme lo its employees. 22
Stallcombe House Notes lo the Financial Statements for the Year Ended 30 June 2024 Iconlinuedl Accountlng pollcios {continugdl Financial in8truments Classification The group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments including trade and other debtors, legacies re1Vable, amounts due from subsidiary undertakings, cash al bank balances and short lemi trade and other creditors. Racognition and measurement Basic financial instruments are initially wognised al transaction value and subsequently measured al their settlerrienl va5ue. Debt instmments The charity has made a loan to its subsidiary that qualifies as a Public Benefit Entity Concessionary Loan under the requirements of FRS102. The loan was initially measured al the amount paid in the charity's balance sheet. The inter group ban has been eliminated on consolidation. In Subsequent years the carrying amount of the loan is adjusted lo reflect any accrued interest re1vable or any impairment losses. The terms of the loan provide for interest to be payable lo the charity al a rate of 1.5% above bank base rate. The loan is repayable over a period of 25 years. Derlvatlve flnancial Instruments The group does not use derivative financial inslrumenls. 23
Stallcombe House Notes to the Financial Statements for the Year Ended 30 June 2024 {continuedl Incomo from donations andlggacles Yearto 30 June 2024 Year to 30 June 2023 Unrestricted Restricted funds fund Donations and legacies Appeals and donations 3.827 3.827 5.202 3.827 3,827 5,202 Income for the year ended 30 June 2024 included £nil12023'. £2401 in respect of Yeslricted funds Income from charitable activiti0$ Yearto 30 June 2024 Year to 30 June 2023 Unrestricted funds Fee income 3,804,738 3,804.738 3.488.744 Income from othar trading activities Yearto 30 June 2024 Year to 30 June 2023 Unre$lrictod funds Trading income.. Farm Income Feed in larifflrenewable healing incentive Craft sales 22.373 40,663 603 22.373 40.663 603 32,669 8,569 63,639 63,639 41.238 Invgstment Incom& Year to Unrestricted 30 June funds 2024 Yearto 30 Junè 2023 Interest receivable and similar Income.. Interest re1vable on bank deposits Other incorne from fixed asset investments 41,162 13,711 41.162 13,711 15,184 13,240 $4,873 54,873 28,424 24
Stallcombe House Notes to the Financial Statements for the Year Ended 30 June 2024 Icontinuedl other income Yearto Unrestrfctsd 30 June funds 2024 Year to 30June 2023 Income of trading subsidiary 58,137 58,137 47,731 58,137 58,137 47,731 Expendlturo on raising funds Costs ol trading actlvltios Year to 30 June 2024 Ygarto 30 June 2023 Unrestricted fund$ Farm trading costs Trading subsidiary costs 17.516 71,320 17,516 71,320 37,857 96,025 88,836 88,836 133,882 bl Invostment management costs Year to 30 June 2024 Yearto 30 June 2023 Unrestricted funds Other investment management costs. Amounts payable to investment managers 8,298 8,298 8.027 8 al Expenditur• on charitable actlvltles Total Year to 30 Jun9 2024 Total Year to 30June 2023 Activity undèrtakèn Dirèctly Activlty support costs Staff costs Household expenses Utility costs Residents, costs Other costs including depreciation 3.330.591 171,357 104,872 12,972 3,330,591 3,098,107 171,357 165.614 104.872 113,005 12.972 30,574 454,531 456,608 454,531 3,619,792 454,531 4,074,323 3,863,908 £4,063,920 (Year to 30 June 2023 £3,861,604) of the above expendittjre was attributable lo tjnrestricted funds and £10.403 (Year lo 30 June 2023 - £2.30411 to reslricled funds. 25
Stallcombe House Notes lo the FinancFal statements for the Year Ended 30 June 2024 Icontinuedl 8 bl 8upportC08ts alkncated lo charltsble aCvoI Total Yearto 30 June 2D24 Total Yearto 30 June 2023 G0MIne• eo¥ts Prfjrnls8B Othersupport eos 8tsff costs costs In¥urJnce Sundry Expgnsq¥ Premises Property and equlkThenl repAlr4 Officp Print. post ènd Stabonlry Trnlnlng and subsertOn* Equlprnent hlre MoloreipeDs95 Professional and rèylstyotbn f Prolesskjnal fe BJDk charges A¢couniancy 49,QJt 49.031 7.606 12.786 SJ.264 04,039 5,933 30.147 1.$89 28,402 5,682 8.555 3.309 47,5B3 43,557 10.049 23.575 53,476 56,387 6.793 37.448 13.768 26.520 3.790 37.232 3.492 32.43 11786 53,164 36M18 49,021 5,933 JO.147 26,402 S.682 39 3,JOS 7,lQ1 47,$83 Audit of fina11 ¥ts¢ement¥ Other fees pald to adar1 Tru$tee5' remuneratSon alld exponles 21.600 11J,819 146 21.600 10.819 145 86,020 1.021 18.000 19.738 7&070 9,960 63.438 5.919 Oth•r 47.271 6&166 151. 142,636 47,992 4HS31 456.608
Stallcombe House Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) Ngt outgoinglincoming resources Nel oulgoinglincoming resources for the period include.. Year to 30 June 2024 Year to 30 June 2023 Operating leases- plant and machinery Audit fees IGainllLoss on disposal of fixed assets held for the group's own use Depreciation ol fixed assets Depiecialion of trading subsidiary assets 1,589 22,213 {9891 88,314 21,441 13,788 18,000 1,944 72,503 21,442 10 Trustees rgmuneration and expensgs During the year the group reimbursed expenses tota11ing £145 to one Trustee in respect of travel, printing and slalionery associated wrth Trustee meetings (Year lo 30 June 2023. £990 to one Trustee for travel, printing at)d stationery associated with Trustee meelingsl. A Letten (previously D Davis-Briggs and G Towningl is the nominated staff Iruslee and all were employees prior lo their appointments. They receive no additional remuneration lor the Tole as a trustee of the charity. No trustees. nor any persons connected with them, have rece*ved any remuneration from the group during the period except as disclosed above. No Iruslees have received any other benefits from the charity during the period. Stsff costs The aggregate payroll c051s were a5 follows.. Yoarto 30June 2024 Yearto 30 June 2023 Staff costs during the period were.. Wages and salaries Social security costs Pension costs Other staff costs 2.350,096 2,289.646 284,339 196.068 47,597 66.849 672.908 $82.992 3,354,940 3,135,553 27
Stallcombe House Notes lo the Financial Slalements for the Year Ended 30 June 2024 Icontinuedl 11 Staff costs Icontinuedl The average monthly head count was 89 staff (Year to 30 June 2023 - 87 slaffj. The monthly average number of persons lin¢luding senior managerllenl leaml employed by the group during the period expressed as full lime equivalents was as follows-. 2024 No 2023 No Charitable activities 82 83 6812023 - 721 of the above employees partripated in the Defined Contribution Pension Schemes. Contributions lo the employee pension schemes for the period lotslled £47,597IYeor lo 30 June 2023 £66.8491 During the period, the group made lefminalion payments which totalled £Nil (Year lo 30 June 2023 £13,750). Four employees received emoluments of between £60,000 and £70,000 during the year (Year lo 30 June 2023 no annualised emoluments exceeded £60.0001. The total employee benefits of the key management personnel ol the group were £137,360 for the year (Year lo 30 June 2023- £210.5671. 12 Auditor8. remuneration Year to 30Jung 2024 Yèarto 30 June 2023 Audit of the financial statements 21,600 18.000 Other foes to auditors Al other non-audil services 10.819 19,738 28
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Stallcombe House Notes to the Financial Slatemenls for the Year Ended 30 June 2024 (continued) 14 Fixod asset investrnènts Group Llsted Investm&nts Year to 30 Juno 2024 Yearto 30 June 2024 At Market Value At 1 July 2023 784.478 767.019 Additions Disposals Revaluation 244.767 176.787 1239,3531 1171,5751 68,934 12.247 Al 30 June 2024 858.826 784,478 Investments Include cash of £20.307 at 30 June 2024. The cost of the listed investments a130 June 2024 was £797,46512023 - £770,3541. The nel revaluation gains of £68,934 for the period include £14,991 of realised gains and £53.943 of unrealised gains. Charity Year to 30 June 2024 Y&arto 30 June 2023 Shares iri subsidiary Other investments 100 100 858,826 784,478 858,926 784,578 Subsidiary Cost and Net book value At 30 June 2023 and 30 June 2024 100 The charity owns 1000/0 of the ordinary shares and voting rights in Stallcombe Eco Power Ltd. a company incorporated in England and Vvales Icompany number 95597431 with the same registered office as the charty. Ils principal activity is the generation of electricity and il is consolidated in these accounts. The loss for the year to 30 June 2024 of Slallcombe Eco Power Ltd was1£4,8591 (year to June 2023- profil of £26,595) and the aggregate amount of capital and reserves al the end of the year was a deficit of1£10,248112023- £5,3891 Tumover for the year to 30 June 2024 was £84.183 (year lo 30 June 2023- £157,761). Expenditure ft)r the year lo 30 June 2024 was £89,042 (year lo 30 June 2023- £131,166). 31
Stallcombe House Notes to the Financial Slatements for the Year Ended 30 June 2024 (continued) Dobtor8 Group 2023 Charity 2024 2024 2023 Trade debtors Due from group undertakings Prepayments Other debtors 33,595 30,671 33,595 30,671 303,892 288,709 61,088 55,626 139.222 84,368 65,272 139,221 56,969 89,545 238.088 177,185 537.797 459,374 Charity debtors includes £320,74712023' £402.0041 receivable after more than one year. Creditors: amounts falllng dua wlthln one year Group 2023 Charity 2024 2024 2023 Trade creditors Other laxalk)n and social security Other creditors Accruals and deferred income 192,930 143.198 11,978 91.958 95,752 60.262 26,155 115.300 192,930 142.376 11,978 87,292 92.929 60,262 26.154 110,993 440,064 297,469 434,576 290,338 17 Obligatlons und&r1oasg$ and hire purchasg Contracts Op8rating lease commitmènts Total ftjlure minimum lease payments under non-cancellable operating leases are as fo11ow5'. Group 2023 Charlty 2024 2024 2023 Other Between one and five years 6,921 8,993 6.921 8,993 32
Stallcombe House Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) 18 Capitsl commitments AI 30 June 2024 the Charity had a capital commitment of £172,009 in respect of the contract for a building that was under construction al the year end. 19 Funds Rg¢0ivod as Agent Stallcombe House acts as agent for several of its residents and ¢olle¢ts benefits on their behaK. These benefits are paid into a ring-lenced bank account which Slallcombe House operates as agent, and il Is used lo pay residents expenses including their contributions lo Slallcombe House's fees. Slallcombe House also operates a number of residents, own accounts as their appointee. The balance on these bank accounts al 30 June 2024 was £2(,730130 June 2023- £199,344). These balances are not included in the statement of Financial Activities or balance sheet in accordance with the Charities SORP FRS102. The lotsl amount received into these accounts during the year was £270,17112023 . £285.1511 and the lolal payments in the year were £262,78512023 .. £393.2851 20 Charlty status The charity is limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 21 Pension Commitments There a no pension commitments for the subsidiary. Current pens10n contributions for the charity owed at the year end and provided for in the accounts amounted lo £10,7601202> £10,940). 33
Stallcombe House Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) 22 Funds Group Currant Perlod Balance at 1 Transfers & Balance at July Incoming R•sourcgS recognlsed 30 June 2023 resources expended gainslllossesl 2024 Unre$trictod funds General Unreslricled funds 4,287,634 3,985,214 14,110,018) 12.065.98212,096,848 Designated Building Projects fvnd 800.000 1190,3181 609,682 Oesignaled Redundancy fund 250,000 250,000 Designated Vehicle fund 50,000 so,000 Designated Land and Buildings fund 2.025,234 1,974,198 151,0361 5,087,634 3,985,214 14.161,0541 68,934 4,9BO,728 Restricted tunds Social fund Willows fund Computer fund 30,255 332 3,422 16,6491 13321 13,4221 23,606 Total restricted funds 34,009 110,4031 23,606 Total funds 5.121,643 3,985,214 14.171,4571 68,934 5,004,334 Prevlou8 Period Balancg at 1 Tran$f8rs & Balance al January Incoming Resources re¢ogni8ed 30 Juno 2022 resourc8s expended gainslllossesl 2023 Unrestrictod funds General Unreslncled funds Designated Building Projects fund Revaluation reserve 5,467,801 3.611.099 14,003,513) 1787.75314.287.634 800.000 800.000 5.467.801 3,611,099 14,003,513} 12,247 5,087,634 Restricted funds Social fund Wllows fund Computer fund 32,319 332 3.422 240 12,3041 30,255 332 3.422 Total restricted funds 36,073 240 12,3041 34,009 Totsl funds 5,503,874 3,611,339 14,005,817) 12,247 5,121,643
Stallcornbe House Notes to the Financial Statements for the Year Ended 30 June 2024 {continuedl 22 Funds Charity Current Period Balance at 1 Transfgrs & Balance at July Incoming Resources recognised 30 June 2023 resources expended gainslllosse8} 2024 Unrestricted fund$ General Unreslricled funds 4.293.123 3,944,798 14,064.7441 12,065,98212.107,195 Designated Building Projects fund 800.000 1190,3181 609,682 Des1gnaled Redundancy fund 250,000 250,000 Designated Vehicle fund 50,000 50,000 Designated Land and Buildings fund 2,025.234 1.974,198 151.0361 5,093.123 3.944,798 14,115.7801 68.934 4.991,075 Restricted funds Social fund Willows fund Computer fund 30,255 332 3,422 16,6491 13321 {3,4221 23,606 Total rgstricted funds 34.009 110,4031 23,606 Totsl funds 5,127,132 3,944.798 {4.126.1831 68,934 5.014,681 Provlou$ Poriod Balance at 1 Tran8fer8 & Balancè at January Incomlng Re$ourc9S recognised 30 June 2022 resources expended galn8111088esl 2023 Unrestrlctsd funds General Unrestricted funds Designated Building Projects fund Revaluation reserve 5,519,439 3,581,882 14,020,445) 1787,75314.293,123 800,000 800,000 5,519,439 3.581,882 14,020,445) 12,247 5,093,123 Restricted funds Social fund Ilows fund CompuleT fund 32.319 332 3.422 240 12,3041 30,255 332 3,422 Total restricted funds 36,073 240 12,3041 34.009 Total funds 5.555.512 3,582,122 14,022,749) 12,247 5.127.132 35
Stallcombe House Notes to the Financial Statements for the Year Ended 30 June 2024 Icontinuedl 22 Funds (continued) The specific purposes for which the funds are lo be applied are as follows.. Social fund to assist with the payment of social events for the beneficiaries of the charity. Willows fund- for the building of the unil and for the purchase of equipment required lo benefit the beneficiaries of the Willows unil. Computer fund - to assist in the purchase of computer equipment for chaiity use. Designated building proiects fund - this represents funds sel aside for stages 4 and 5 of the building projects. Designated redundancy fund- an emergency fund towards redundancy c051 in the event that the Charity cannot continue lo operate. Designated vehicle fund to provide for rolling replacement of vehicles. Designated land and buildings fund- represents Ihe value of the funds held as land and buildings and required for the day lo day operation of the charity. 23 Analysis of net asséts between funds Group Total funds Unrn8trlctodDeslgnated Restrictèd 30 Jung funds funds funds 2024 Tangible fixed asse15 Fixed asset investments Current assets Current liabilities 465,378 1,974,198 858.826 1.212,708 1440,0641 2.439,576 858,826 23,606 2,145,996 1440,0641 909,682 Total nel assets 2,096,848 2,883,880 23.606 5.004,334 Previous pgriod UnrostrictedDgsignated Restricted funds fund8 fund8 30 June 2023 Tangible fixed 8ssels Fixed asset investments Current assets Current liabilities 2.010,316 784,479 1.790,308 1297,4691 2,010,316 784.479 34,009 2.624.317 1297,4691 800.000 Total nel assets 4,287,634 800,000 34.009 5, 121.643
Stallcombe House Notes to the Financial Statements for the Year Ended 30 June 2024 {continuedl 23 Analysis of nèt assets between fundB Icontinuedl Charlty Total funds Unre$trict8d D9signatgd Restrictad 30 June funds funds funds 2024 Tangible fixed assets Fixed asset investmen15 Current assets Current liabilities 222,376 1,974, 198 858,926 1,460,469 1434,5761 2,196,574 858.926 23.6(6 2,393,757 1434.5761 909,682 Total nel assets 2,107.195 2,883,880 23,606 5,014.681 Previous perfod Unrè8trictedDe$ignated Restricted funds funds funds 30June 2023 Tangible fixed assets Fixed a5sel investments Current assets Current liabilities 1,745,873 784.578 2,053.010 1290.3381 1.745.873 784,578 34,009 2,887.019 {290.3381 800.000 Total nel assets 4,293, 123 800,000 34,009 5,127,132 24 Related party trnnsactlons User and staff trustees The user Iruslees are directors of the charity that have relatives who are beneficiaries of the charity that enjoy the same benefits as unrelated beneficiaries. During the period there were three user Ifuslees lye8r lo 30 June 2023 - Ihreel. As explained in Note 10 there is also one staff Iruslee. At the balance sheet date the amount due lolfrom user and staff Iruslees was £nil12023 4nill. stallcombe Eco Power Ltd IA wholly owned trading subsidiary of the charity) Dunng the 2015 yearlhe charity made a loan lo Slallcombe Eco Powef Ltd and interest is being charged on this loan. During the year the charity has purchased electricity from Slalkombe Eco Power Ltd in the sum of £26,04612023 - £94.4431. At the balance sheet date the amount due from Stallcornbe Eco Power Ltd to the Charity was £303,89212023- £288,709). DonalKJns in kind of professK)nal services were made by trustees during the year. They are eslimaled to be valued al £15.000 and there were no conditions allached. These donations have not been included in these aUnIs(2023". £10.0001. 25 Taxation The group comprises a registered charity whieh is thefore exempt from direct laxalion and a tfading subsidiary whh is liable lo Corporation tax on any profits not grft aided lo the charity. 37