| CONTENTS | Page | ||
|---|---|---|---|
| Report ofthe Trustees | 3 —9 | ||
| Report ofthe Auditors | 10-12 | ||
| Statement ofcomprehensive | income | 13 | |
| Statement offinancial | position | 14 | |
| Cashflow statement | 15 | ||
| Notes to the Financial | Statements | 16 —25 |
| Notes | 2023 | 2022 | |||||
|---|---|---|---|---|---|---|---|
| TURNOVER | 1b/2 | 1,855,373 | 1,783,445 | ||||
| Operating | Costs | (2,034,867) | (1,697,415) | ||||
| Operating | Surplus | (179,494) | 86,030 | ||||
| Interest Receivable | 5 (i) | 150 | 19 | ||||
| Movement | in fair value offinancial | instruments | 5{ii) | {7,178) | 73,947 | ||
| Surplus on |
Ordinary | Activities before | (186,522) | 159,996 | |||
| Taxation | |||||||
| Tax on Surplus on | Ordinary | Activities |
| Notes | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|
| TANGIBLE FIXEDASSETS | ||||||
| Property, plant 8equipment |
8(i) | 853,932 | 905,643 | |||
| investments | 8 (ii) | 702,637 | 709.816 | |||
| 1,556,569 | 1,615,459 | |||||
| CURRENT ASSETS | ||||||
| Stock | 9 | 3,595 | 3,139 | |||
| Debtors | 10 | 206,287 | 111,358 | |||
| Cash at Bank snd in Hand | 135,874 | 368,995 | ||||
| 345,756 | 483,492 | |||||
| CREDITORS: Amounts | falling due within | |||||
| one year | (192,818) | (190,833) | ||||
| Net Current Assets | 152,938 | 292,659 | ||||
| CREDITORS: Amounts | falling due in more | |||||
| than year | (217,584) | (229,672) | ||||
| TOTAL ASSETS LESS | CURRENT LIABILITIES | 61,491,923 | 61,678,446 | |||
| CAPITAL AND RESERVES | ||||||
| General Reserves | 16 | 1,391,026 | 1,625,358 | |||
| Restricted Reserves | 16 | 100,897 | 53,088 | |||
| Total Funds | 61,491,923 | 61,678,446 |
| Notes | 2023 | 2022 | |||||
|---|---|---|---|---|---|---|---|
| Surplus from operations |
(186,522) | 159,996 | |||||
| Adjustments for depreciation |
and impairment | 52,545 | 52,720 | ||||
| (increase) in va/ue of investments |
7,179 | (73,947) | |||||
| (126,798) | 138,769 | ||||||
| Movements in working |
capital | ||||||
| Decrease in stocks |
(456} | 403 | |||||
| (increase }/decrease in |
debtors | (94,929} | (19,965) | ||||
| increase/(decrease) m |
creditors | 1,985 | 18,203 | ||||
| (93,400) | (1,359) | ||||||
| Net cash generated by operaing |
activities | (220,198} | 137,410 | ||||
| Investing activities |
|||||||
| Payments for property, plant and |
equipment | (834) | (2,506) | ||||
| Cash flows from financing | aclivities | ||||||
| Grants repaid | (12,088) | (12,088) | |||||
| Net increase/(decrease) in cash and cash equivalents |
(233,120) | 122,816 | |||||
| Cash and cash equivalents | at the | beginning | ofthe year | 368,995 | 246,179 | ||
| Cash and cash equivalents | at the end of | the year | 6135,874 | ||||
| Cash and bank balances | 6135,874 | 8368,995 |
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| EMPLOYEE COSTS | 2023 | 2022 | |||||
|---|---|---|---|---|---|---|---|
| Vyages and Salaries | 982,799 | 950,881 | |||||
| Social Security Costs | 76,490 | 75,009 | |||||
| Other pension costs |
16,915 | 14,627 | |||||
| F1,076,204 | 61.040,517 | ||||||
| No employee received emoluments |
of more than 860,000. | ||||||
| The average number of |
employees | during | the year, calculated | on the basis | of full time equivalents | ||
| was as follows: | |||||||
| Resident Manager | |||||||
| Administration | |||||||
| Day Care | |||||||
| Nursing, Care Assistants |
and Domestics | 40 | 40 | ||||
| 43 | |||||||
| (IVS fuii time is ciassifierf | as 30hours ormore per period) | ||||||
| Average number of employees |
|||||||
| Remuneration of 3 (2)senior staff |
6116,409 | 685„607 | |||||
| TRUSTEES REMUNERATION AND |
RELATED PARTY | ||||||
| TRANSACTIONS | |||||||
| No Trustee received any remuneration during the year. Expenses waived by trustees |
~m | ||||||
| No Trustees or other person related |
to the | charity had any personal | interest | in any contract or | |||
| transaction entered into |
by the charity during the year (2022 ENIL). |
| Donations | received | from Trustees were | from Trustees were | 63,949 | K4,463 | ||
|---|---|---|---|---|---|---|---|
| Donations | received | from connected | charities | 612,081 | 61,500 | ||
| 5(i) | INTEREST | RECEIVABLE | 2023 | 2022 | |||
| Interest receivable | on bank deposits | 6150 | 219 | ||||
| 5(ii) | MOVEMENT IN FAIR VALUE OF FINANCIAL |
INSTRUMENTS | |||||
| Lfnrealised | gains | on investments | (67,178) | 873,947 |
| SUPLUS/(DEFICIT) ON |
ORDINARY ACTIVITIES | 2023 | 2022 |
|---|---|---|---|
| BEFORETAXATION | |||
| Deficit on ordinary activities |
|||
| before taxation is stated |
oner charging: | ||
| Depreciation on Housing |
Properties | 38,452 | 38,452 |
| Depreciation on other Tangible Fixed Assets |
14,093 | 14,268 | |
| Auditors Remuneration |
—audit services | 5,280 | 4,800 |
| (inc VA7) | —non audit services |
| Fixtures, | |||||
|---|---|---|---|---|---|
| Freehold | fittings & |
||||
| 8(i) | FIXED ASSETS | land | Buildings | equipment | Total |
| Cost | |||||
| At I April 2022 | 137,164 | 1,922,616 | 206,005 | 2,265,785 | |
| Additions | 834 | 834 | |||
| At 31 March 2023 | f137,164 | 61,922,616 | 6206,839 | f2,266,619 | |
| Depreciation | |||||
| At 1 April 2022 | 1,170,244 | 189,898 | 1 308 342 | ||
| Charge for the year | 38,452 | 14,093 | 52,545 | ||
| At 31 March 2023 | f1,208,696 | 6203„991 | f1,360,887 | ||
| Net Book Yatue | |||||
| At 31 March 2022 | f137,164 | f752,372 | f.'l6,107 | f905,643 | |
| At 31 March 2023 | f137,164 | f713,920 | f2,848 | f853,932 |
| 8{ii) | INVESTMENTS | INVESTMENTS | 2023 | 2022 | ||
|---|---|---|---|---|---|---|
| Valuation Brought Forward |
709,815 | 635,869 | ||||
| Unrealised | gain on investments | {7,178) | 73.947 | |||
| At 31 March | 2023 | 6702,637 | 8709,816 | |||
| 9 | STOCKS | 2023 | 2022 | |||
| Food | 2,210 | 1,880 | ||||
| Non-Food | 1,385 | 1,259 | ||||
| 63,595 | 63,139 | |||||
| 10 | DEBTORS | 2023 | 2022 | |||
| Care and Accommodation | Charges | 196,217 | 99,280 | |||
| Income Tax Refund |
2,538 | |||||
| Prepayments | and Accrued | Income | 9,601 | 9,109 | ||
| Other debtors | 469 | 431 | ||||
| 6206,287 | 8111,358 | |||||
| 11 | CREDITORSr | AMOUNTS | FALLING DUE WITHIN ONE YEAR | 2023 | 2022 | |
| Trade Creditors | 29,334 | 70,023 | ||||
| Social Security and Other | Taxes | 9,835 | 19,415 | |||
| Accruals | 45,327 | 16,314 | ||||
| Other Creditors | 96,235 | 72,993 | ||||
| Government | grant | 12,088 | 12,088 | |||
| 6192,819 | 5190,833 | |||||
| CREDITORS: | AMOUNTS | FALLING DUE IN MORE THAN ONE | 2023 | 2022 | ||
| YEAR | ||||||
| Government grant |
8217,584 | 5229,672 |
| 12 | CAPITAL COMMITMENTS | 2023 | 2022 | |||
|---|---|---|---|---|---|---|
| Authorised but nof contracted |
Nil | Nd | ||||
| Contracted for but not spent |
||||||
| 13 | HOUSING STOCK | 2023 | 2022 | |||
| SHG Funded | 10 | 10 | ||||
| Non-SHG Funded | 22 | 22 | ||||
| Bed spaces in accommodation | owned | by the Assoaation | 32 | |||
| 14 | AVERAGE ACCOMMODATION | CHARGE | 2023 | 2022 | ||
| The average weekly accommodaiion |
charge was: | 61,106 | 61,021 | |||
| 15 | RECONCILIATION OF MOVEMENTS |
IN ASSOCIATION'6 | FUNDS | |||
| 2023 | 2022 | |||||
| Opening Association's Fund |
1,678,446 | 1,518,450 | ||||
| Surplus/(Deficit} for the financial |
year | (186,522) | 159,996 | |||
| Closing Association Funds |
61,491,924 | F1„678,446 |
| 16 | RESERVES | As at | Fund | As et | ||
|---|---|---|---|---|---|---|
| 01.04.2021 | Income | Expenditure | Transfers | 31.03.2022 | ||
| Restricted Reserves | ||||||
| The Rey King Memorial | ||||||
| Fund | 28,259 | 3,129 | (12,904) | 18,484 | ||
| Staff Fund | 463 | 881 | (1,344) | |||
| Projects Fund | 11,354 | 8,408 | (13,158) | 6,604 | ||
| Respite Fund |
8,000 | (8,000) | ||||
| Dey Club Fund | 2,217 | (2,217) | ||||
| Flood Resilience Fund | 2,795 | 74,678 | (1,664) | 75,809 | ||
| Total Restrlcfed | ||||||
| Reserves | 53,088 | 87.096 | (27,406) | (11,881) | 100,897 | |
| Unrestricted Reserves |
||||||
| - General Funds | 1,625,358 | 1,761,247 | (2,007,460) | 11,881 | 1,391,026 | |
| Total Reserves | 61,518,450 | 61,848,343 | (52,034,886) | 91,491,923 |
| General | Restricted | ||
|---|---|---|---|
| Funds | Funds | Total | |
| Tangible Fixed Assets |
853,932 | 853,932 | |
| Investments | 702,637 | 702,637 | |
| Current Assets | 244,859 | 100,897 | 345,756 |
| Current Liabilities |
(192,818) | (192,818) | |
| Non current liabilities |
(217,584) | (217,584 | |
| Net Assets as at 31 March 2023 | 61,391,026 | 6100,897 | 61,491,923 |