Charity number: 502457 COOPER PATTINSON'S TRUST HOMES UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Armstrongwatson. Accountants, Business & Financial Advisers
COOPER PATTINSON'S TRUST HOMES CONTENTS Page Reference and administrative details of the Charity, its Trustees and advisers Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes to thè financial statements 8-23
COOPER PArriNSON'S TRUST HOMES REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2024 Trustees Mrs D R Malthews Mr P G Matthews (resigned 1 June 2024) Mr A D Bromley (resigned 1 September 2024) Mrs J L Sansom (resigned 31 August 2023) Mr D H Graham (resigned 23 May 2023) Mr M G P Matthews Mrs B M Hibbert (appointed 10 August 2024) Mrs J Leigh (appointed 17 December 2024) Charity reglstered number 502457 Princlpal offlce Rayrigg Estates Limited Rayrigg Road Windermere Cumbria LA23 1 BW Accountants Armstrong Watson Audit Lirnited Chartered Accountants James Watson House Montgomery Way Rosehill Carlisle Cumbria CA12UU Bankers National Westminster Bank PIC 2 High Street Windermere Cumbria LA23 1WY Page 1
COOPER PATTINSON'S TRUST HOMES TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2024 The Trustees present their annual report together with the financial statements of the Charity for the year 6 April 2023 to 5 April 2024. Objectives and activities a. Policies and objectives The objective of the Charity is by charitable means but not otherwise, to provide and maintain dwelling houses, flats or other residential accommodation for the residence and use of persons who are aged or infirm, or unable to obtain employment because of ill heallh or other disability, but who are fully able to care for themselves and who are in need of financial assistance in the provision of suitable residential accommodation of the type provided by the Charity in the South Lakeland District and who are preferably.. Christian Scientists, or persons who have resided in the South Lakeland District for at least fifteen years, or persons employed for at least ten years (whether or not continuously) by the laie Thomas Cooper Pattinson of Rayrigg Hall, Windermere or by any member of his family or by any Company or business controlled or formerly controlled by him or them or any of them. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Comm ission relating to public benefit, including the guidance 'Public benefit.. running a charity {PB2)'. b. Maln activltles undertaken to further the Charity's purposes for the public beneflt The Trustees have considered the guidance published by the Charity Commission in relation to public benefit and confirm Ihat Ihey adhere to this guidance. The Trustees believe that the charity's objectives and activities ensure that it assisls a variety of beneficiaries wilhin South Lakeland District. Achlevements and performance a. Maln achievements of the Charlty During the year under review, the Trustees fulfilled their objectives by providing accommodation in 14 bungalows in Rayrigg Gardens, 8 flats in Hunter House and 2 bungalows designed specifically for the disabled known as Llewellyn Cottages. The only full-time employee is a resident manager for whom accommodation is provided in a separate manager's flat within Hunter House. There is also a part time gardener. The financial statements show that the income of the Trust has been fully utilised in providing accommodalion and warden support during the year, and in transferring sums to the designated funds recommended by the Almhouses Association. The Trust has completed substantial refurbishment to some of its properties in recent years and strives to maintain a high level of standard within all of its accommodation. During the year a grant of £8,000 was received from the Auxilliary Committee for Retirement Homes Serving Chrislian Scientists towards the refurbishment of a bungalow in Rayrigg Gardens. The site formerly known as the Windermere Garden Centre has been leased to Lakeland Gardens Ltd. Page 2
COOPER PArriNSON'S TRUST HOMES TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Financial review . Going concern After making appropriate enquiries, the Trustees have a reasonable expeclation that the Charity has adequate resources to continue in operalional existence for Ihe foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. b. Reserves pollcy The Trustees have reviewed the level of reserves held by the Charity. The review encompassed the nature of the income and expenditure streams and the nature of the reserves held by the Charity. The review concluded thal to allow the Charity to be managed efficiently and to provide a buffer for uninterrupted service, a level of free reserves amounling to £100,000 should be maintained. This equates to approximately 14 months of unrestricted fund expendilure. The trustees believe that should the activities of the Charity cease Ihey would require this amounl of time in order to re-house all of the residents of the properties owned by the Charity. The analysis of net assels between funds (note 18 in the financial statements) shows Ihat unrestricted free reserves (i.e. excluding tangible fixed assets) amounted to £263,770 (2023 £224,890) as of the balance sheet date. c. Investment powers and restrictions The Trustees have absolule discretion to invesl in any stocks, funds, securilies or inveslments authorised by law for the investment of trust funds or in the purchase, repair or improvement of any freehold or leasehold property whether or not required in whole or in part for occupation for the purposes of the Trust. d. Rlsk management The Trustees have considered the risks that face the charity through its operating activities and consider all risks when making decisions which affect the charity financially, slrategically and operationally. Structura, governance and management a. Governing document Cooper Pattinson's Trust Homes is administered from Rayrigg Road, Windermere, Cumbria. LA23 1BW and is regislered as a charily number 502457 with the Charity Commissioners. It is constituted by a Deed of Trust dated 14 May 1973 as amended by an order of the Commissioners on 18 November 1999. b. Methods of appointment or election of Trustees The affairs of the Charity are managed and conducted by the Trustees who have full power to act in the name of and on behalf of the Charity in the furtherance of its objectives. The number of Trustees shall nol exceed six and shall not be less than 0. The power of appointing new Trustees is vested in the surviving or continuing Trustees for the time being. c. Pay policy for key management personnel The Trustees consider the Board of Trustees as comprising the key management personnel of the charity in charge of directing and controlling the charily and running and opertaing the charity on a day to day basis. All Trustees give of their time freely and no Trustee remuneration was paid in the year. Details of Trustee expenses and related party transactions are disclosed in note 19 to the accounts. Page 3
COOPER PATTINSON'S TRUST HOMES TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Plans for future periods The Trust owns further land which may be available for future improvements or extensions to residents, facilities The Trustees are building up reserves out of contributions from residents with a view lo improving or extending the accomodation. Statemant of Trustees. responsibllities The Trustees are responsible for preparing the Trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Truslees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suilable accounting policies and then apply them consistently., observe the methods and principles of Ihe Charities SORP IFRS 102)., make judgments and accounting estimates thal are reasonable and prudent., state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any malerial departures disclosed and explained in the financial statements,. prepare the financial stalements on Ihe going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's Iransactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charilies Act 2011, the Charity (Accounts and Reports} Regulations 2008 and the provisions of the Trust deed. 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. Approved by order of the members of the board of Trustees and signed on their behalf by.. Mrs D R Matthews Trustee Date: 12 Page 4
COOPER PArriNSON'S TRUST HOMES INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2024 Independent examiner's report to the Trustees of Cooper Pattinson's Trust Homes ('the Charity.) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2024. Responsibilities and basis of report As Ihe Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act.). I report in respect of my examination of Ihe Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Your attention is drawn to the fact that the Charity has prepared the accounls in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland {FRS 102) in preference to the Accounting and Reporting by Charities- Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act., or the accounts do not accord with those records,. or Ihe accounts do not comply with the applicable requirements concerning the form and conlent of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement Ihat the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely lo the Charitqs Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters l am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permilted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed.. Dated.. 18 rrrJcki Karen Rae FCCA Armstrong Watson Audit Limited Chartered Accountants Carlisle Page 5
COOPER PATTINSON'S TRUST HOMES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities Investments Other income 8,000 8,000 158,092 2,867 2,840 20,000 158,129 936 2,061 158,092 2,867 2,840 Total income 8,000 163,799 171,799 181,126 Expenditure on: Charitable activities 14,180 117,843 132,023 139,596 Total expenditure 14,180 117,843 132,023 139,596 Net (expendlture)lincome Transfers between funds {6,180) (8,000) 45,956 8,000 39,776 41,530 16 Total transfers (8,000) 8,000 Net movement In funds (14,180) 53,956 39,776 41,530 R•conclllatlon of funds: Total funds brought forward Net movement in funds 382,248 (14,180) 450,034 53,956 832,282 39,776 790, 752 41,530 Total funds carried forward 368,068 503,990 872,058 832, 282 The Statemenl of financial activities includes all gains and losses recognised in the year. The notes on pages 8 to 23 form part of these financial statements. Page 6
COOPER PATTINSON'S TRUST HOMES BALANCE SHEET AS AT S APRIL 2024 2024 2023 Note Flxed assets Tangible assets Investments 12 608,288 273,144 607,392 226,860 13 881,432 834,252 Current assets Debtors Cash at bank and in hand 14 2,385 10,393 2,560 10,199 12,778 12,759 Creditors.. amounts falling due within one year 15 (22,152) (14,729) Net current liabllltlas {9,374) (1,970) Total assets less current liabilities 872,058 832, 282 Total net assets 872,058 832, 282 Charity funds Restricted funds Unrestricted funds 16 16 368,068 503,990 382,248 450,034 Total funds 872,058 832.282 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Mrs D R Matthews Trustee Date: 1Z-E*xX 20L) The notes on pages 8 to 23 form part of these financial statements. Page 7
COOPER PATTINSON'S TRUST HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 General information Cooper Pattinson's Trust Homes is a charity registered in England and Wales. The charity number is 502457 and the registered address of the charity is Rayrigg Estates Limited. Rayrigg Road, Windermere, Cumbria LA23 1 BW. Accounting pollcies 2.1 Basls of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) 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 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true 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 the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Cooper Paltinson's Trusl Homes meets the definition of a public benefil entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Income All income is recognised once the Charity has entitlement to Ihe income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes bul not expended during the period is shown in the relevanl funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where enlitlemenl occurs before income is received, the income is accrued. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of Ihe service. 2.3 Expenditure Expenditure is recognised once there is a legal or construclive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of Ihe lolal of direct costs and shared Gosls, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that aGtivity. Sharod co8tc which contribute to mor9 than ong activily and si Ippnrt r.nql* INhin,h Arp. not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of lime spent. and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Page 8
COOPER PATTINSON'S TRUST HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies (contlnued) 2.3 Expenditure (continued) All expenditure is inclusive of irrecoverable VAT. 2.4 Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposiled. 2.5 Tangible flxed assets and depreclatlon Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, Ihe recoverable amount of the asset is delermined to be the higher of ils fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, Depreciation is provided on the following bases: Freehold property Furniture and equipment 2 % straighl line 20 % straight line The depreciation charged on freehold property is based on building costs of £900,000. Land is not depreciated. 2.6 Investments Fixed asset investmenls are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Losses} on investments, in the Statement of financial activities. 2.7 Debtors Trade and other debtors are recognised at Ihe settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.8 Cash at bank and in hand Cash at bank and 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. Page 9
COOPER PATTINSON'S TRUST HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accountlng policies (continued) 2.9 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement can be estimated reliably. Liabililies are recognised at the amount that the Charity anticipales it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on Ihe present value of those amounts, discounted al the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. 2.10 Financlal instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.11 Pensions The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity lo the fund in respect of the year. 2.12 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the noles to the financial statements. Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against Ihe specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page 10
COOPER PATTINSON'S TRUST HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Critical accounting estlmates and areas of judgment Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions.. The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Critical areas of judgment.. The entity receives rental income from its tenants. As a result, the Trustees have estimated that the most appropriate basis of support cost allocation is based upon properties. The costs of managing and maintaining the properties are considered as direct costs with other costs being allocated to support. Establishing useful economic lives.. Establishing useful economic lives for the depreciation purposes of property, plant and equipment comprise a significant portion of the lotal fixed assets. The annual depreciation charge depends primarily on the estimated useful economic lives of each type of asset and estimates of residual values. The trustees regularly review these assets useful economic lives and change them as necessary lo reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in asset useful lives can have a significant impact on depreciation charges for the period. Details of the depreciation policies based on estimated useful economic lives are included in accounting policy note 2.5. Income from donatlons and legacies Restricted funds 2024 Total funds 2024 Grants 8,000 8,000 A grant was received towards the refurbishment of a bungalow at RayRigg Gardens (2023 £20,000 towards boiler refurbishment at Hunter House). Restricted funds 2023 Total funds 2023 Grants 20,000 20.000 Page11
COOPER PATTINSON'S TRUST HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Income from charltable activities Unrestricted funds 2024 Total funds 2024 Rental income 158,092 158,092 Unrestricted funds 2023 Total funds 2023 Rental income 158,129 158,129 Investment income Unrestricted funds 2024 Total funds 2024 Bank interest receivable 2,867 2,867 Unrestricted funds 2023 Total funds 2023 Bank interest receivable 936 936 Other Incoming resources Unrestricted funds 2024 Total funds 2024 Miscellaneous income 2,840 2,840 Page 12
COOPER PATTINSON'S TRUST HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Other Incoming resources (continued) Unrestricted funds 2023 Total funds 2023 Miscellaneous income 2,061 2,061 Analysls of expenditure on charitable actlvltles Summary by fund type Restrlcted Unrestricted funds funds 2024 2024 Total 2024 Rental 14,180 117,843 132,023 Restricted Unrestricted funds funds 2023 2023 Tot81 2023 Rental 74,180 125,416 139,596 Summary by expenditure type Staff costs Other costs 2024 2024 Total 2024 Renlal 35,388 96,635 132,023 Staff costs Other costs 2023 2023 Total 2023 Rental 34,338 105.258 139,596 Page 13
COOPER PATTINSON'S TRUST HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Analysis of expenditure by activities Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Rental 120.435 11,588 132,023 Activities undertaken directly 2023 Support costs 2023 Total funds 2023 Rental 123,487 16, 109 139,596 Analysls of direct costs Total funds 2024 Rental 2024 Staff costs Depreciation Rates and water Heat and light General insurance Property repairs Telephone Gardenlng expenses Christmas hampers Assisted telephone services 35,388 21,189 8,524 4,814 4,351 24,165 968 1u,ugi5 1,458 1,483 35,388 21,189 8,524 4,814 4,351 24,165 968 18,095 1,458 1,483 120,435 120,435 Page 14
COOPER PATTINSON'S TRUST HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Analysis of expendlture by activities (continued) Analysls of direct costs {continued) Total funds 2023 Rental 2023 Staff costs Depreciation Rates and water Heat and light General insurance Property repairs Telephone Garden expenses Christmas hampers Assisled telephone services 34,338 19,669 8,238 4.297 3, 768 32,298 989 17,164 1,383 1,343 34,338 19,669 8,238 4,297 3, 768 32,298 989 17,164 1,383 1,343 123,487 123,487 Analysis of support costs Total funds 2024 Rental 2024 Advertising General expenses Subscriptions Legal and professional fees Bank charges Independent examination and accountancy fees Trustees indemnity insurance 875 2,359 1.708 1,350 373 4,440 483 875 2,359 1,708 1,350 373 4,440 483 11,588 11,588 Page 15
COOPER PATTINSON'S TRUST HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Analysis of expendlture by activities (continued) Analysis of support costs (continued) Total funds 2023 Rental 2023 Advertising General expenses Subscriptions Legal and professional fees Bank charges Independenl examination and accountancy fees Trustees indemnity insurance 1,000 2,133 570 7,751 388 3, 784 483 1,000 2.133 570 7,751 388 3, 784 483 16,109 16,109 10. Staff costs 2024 2023 Wages and salaries Other pension costs 34,000 1,388 33,000 1,338 35,388 34,338 The average number of persons employed by the Charity during the year was as follows.. 2024 2023 No. Average employees No employee received remuneration amounting to more than £60,000 in either year. 11. Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 5 April 2024. no Trustee expenses have been incurred (2023 - £NIL). Page 16
COOPER PATTINSON'S TRUST HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 12. Tangible fixed assets Freehold property Office equipment Total Cost or valuation At 6 April 2023 Additions 1,090,08S 19,779 54,434 2,306 1,144,519 22,085 At 5 April 2024 1,109,864 56.740 1,166,604 Depreclatlon At 6 April 2023 Charge for the year 487,304 20,016 49,823 1,173 537,127 21,189 At 5 April 2024 507,320 50,996 558,316 Net book value At 5 April 2024 602,544 5,744 608,288 At 5 April 2023 602, 781 4,611 607,392 Included in land and buildings is freehold land at a valuation of £112,296 {2023 £112,296) which is not depreciated. 13. Flxed asset investments Unlist•d Investments Cost or valuation At 6 April 2023 Additions 226,860 46,284 At 5 April 2024 273,144 Net book value At 5 April 2024 273,144 At 5 April 2023 226, 860 Page17
COOPER PATTINSON'S TRUST HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 14. Debtors 2024 2023 Due within one year Trade debtors Prepayments and accrued income 650 1,735 1,050 1,510 2,385 2,560 15. Credltors: Amounts falllng due within one year 2024 2023 Trade creditors Other taxation and social security Accruals and deferred income 10,080 1,682 10,390 3.005 1,634 10,090 22,1 $2 14, 729 At the year end date deferred income amounting to £6,250 (2023 - £6,250) was included within accruals and deferred income. Page 18
COOPER PATTINSON'S TRUST HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 16. Statement of funds Statement of funds - current year Balance at 6 April 2023 Transfers Balance at 5 inlout April 2024 Income Expenditure Unrestricted funds Deslgnated funds Extraordinary repair fund Cyclical maintenance fund Building development fund Repair and Maintenan fund 7,097 128,473 15,540 59,116 15,648 25,584 (9,675) (7,985) 13,070 146,072 1 5,540 69,922 17,664 (6,858) 210,226 58,896 {24,518) 244,604 Balance at 6 Aprll 2023 Transfers Balance at 5 Inlout April 2024 Income Exp•ndlture General funds General Funds - all funds 239,808 104,903 (93,325) 8,000 259,386 Total Unrestricted funds 450,034 163,799 (117,843) 8,000 503,990 Balance at 6 Aprll 2023 Transfers Balance at 5 inlout Aprll 2024 Incom• Expenditure Restricted funds Mrs G M Pattinson Estate of Mrs A L Jequier (1) Estate of Mrs A L Jequier (2) Estate of Mrs A L Jequier (3) Refurbishment fund 12,027 256,829 96,360 17,032 {420) (9,660) (3,390) (710) 11,607 247,169 92,970 16,322 8,000 (8,000) 382,248 8,000 (14,180) (8,000) 368,068 Total of funds 832,282 171,799 (132,023) 872,058 Page 19
COOPER PATTINSON'S TRUST HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 16. Statement of funds (continued) Restricted Funds The resources expended on restricled funds represents a depreciation charge on the properties held within restricted funds. The purposes of the restricted funds are as follows- Mrs G M Pattinson - provision of residential home. Estate of Mrs A L Jequier (1) - provision of residential accomodation known as Hunter House. Estate of Mrs A L Jeouier (2) - provision of residential accomodation known as Llewellyn Cottages. Estate of Mrs A L Jequier {3) - provision of funds for repair and improvements for Hunter House and Llewellyn Cottages (utilised for improvements). RefurbishmentlBoiler fund Grant received towards the refurbishment of a bungalow al Rayrigg Gardens (2023 - provision of new boilers al Hunter House). The lull amount of the grants were expended in line wilh the grant's terms and conditions hence the grant have been transferred to unrestricted funds via a Iransfer between funds to be 8mortised over the same period as the depreciation charge on the assets. Deslgnated Funds The purposes of the designated funds are as follows.. The extraordinary repair fund is a reserve fund for future major repairs. The amount transferred out of unrestricted charitable funds is sel at The Almhouses Association recommended minimum level of £652 per unit per annum. An amount of £15,648 {2023 £14,736) has been allocated to the extraordinary repair fund from the general funds during the year. The cyclical maintenance fund is a reserve fund to meet Ihe cost of mainlenance recurring at regular intervals, for example, internal and external redecoration and the cost of professional fees in respect of inspections. The amount transferred out of unrestricted charitable funds is set at The Almshouses Association recommended minimum level of £1,066 per unit per annum. An amount of £25,58412023 - £24,096) has been transferred to the cyclical mainlenance fund from the general funds during the year in respect of refurbishment costs incurred. The building development fund is a reserve fund to meet the cost of future building development work. No transfer from unrestricted charitable funds has been made during the current year. The repair and maintenance fund represents amounts sel aside to cover day to day routine maintenance work. The amount transferred out of unrestricted charilable funds is set al The Almhouses Association recommended minimiim Ip.vp.I nf f 736 pp.r ijnit per annum. An amounl of £17,664 (2023 £16,632) has been transferred to the repair and mainlenance fund from the general funds during the year. Page 20
COOPER PArriNSON'S TRUST HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 16. Statement of funds (continued) Balance at 6 April 2022 Transfers Balance al in/oul 5 April 2023 Income Expenditure Unrestricted funds Designated funds Extraordinary repair fund Cyclical maintenance fund Building development fund Repair and maintenance fund 10,392 113,991 15,540 47,137 14,738 24,096 (18,031) (9,614) 7,097 128,473 15,540 59,116 16,632 (4, 653) 187,060 55,464 (32,298) 210,226 Balance al 6 April 2022 Transfers Balance at in/oul 5 April 2023 Income Expenditure General funds General Funds - all funds 207, 264 105,662 (93, 118) 20,000 239, 808 Total Unrestrlct•d funds 394,324 161,126 (125,416) 20,000 450,034 Balance al 6 April 2022 Transfers Balance at in/oul 5 April 2023 Income Expenditure Re8trlcted funds Mrs G M Pattinson Estate of Mrs A L Jequier (1) Estate of Mrs A L Jequier (2) Estate of Mrs A L Jequier (3) Boiler fund 12,447 266,489 99, 750 17,742 (420) {9, 660) (3,390) (710) 12,027 256,829 96,360 17,032 20,000 (20.000) 396,428 20,000 (14,180) (20,000) 382,248 Total of funds 790, 752 181, 126 (139,596) 832,282 Page 21
COOPER PATTINSON'S TRUST HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 17. Summary of funds Summary of funds - current year Balance at 6 April 2023 Transfers Balance at 5 inlout April 2024 Income Expendlture Designated funds General funds Restricted funds 210,226 239,808 382,248 58,896 104,903 8,000 (24,518) (93,325) (14.180) 244.604 259,386 368,068 8,000 {8,000) 832,282 171,799 {132,023) 872,058 Summary of funds - prior year Balance at 6 April 2022 Transfers B81ance al in/oul 5 April 2023 Income Expenditure Designated funds General funds Reslricted funds 187,060 207, 264 396,428 55,464 105,662 20, 000 (32,298) (93,118) (14,180) 210.226 239,808 382,248 20, 000 (20,000) 790, 752 181,126 (139,596) 832, 282 18. Analysis of net assets between funds Analysls of net assets between funds - current perlod Restricted Unrèstricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Fixed asset investments Currèiil assets Creditors due within one year 368,068 240,220 273,144 12,778 (22,152) 608,288 273,144 12,778 (22,152) Total 368,068 503,990 872,058 Page 22
COOPER PATTINSON'S TRUST HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 18. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior period Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 382,248 225, 144 228,860 12,759 (14, 729) 607, 392 226,860 12,759 (14.729) Total 382,248 450,034 832.282 19. Pension commitments During the year, the charity has paid over conlributions into a defined contribution scheme totalling £1,388 (2023 - £1,338). At the balance sheet date £Nil (2023 - £Nil} was outstanding. 20. Related party transacttons During the year, the charity purchased Trustee indemnity insurance at a cost of £483 (2023 - £483). Page 23