Company Registration No 01848130 (England and Wales) Registered Charity No 515698
TAPTONHOLME
REPORTS AND FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
TAPTONHOLME
CONTENTS
| PAGE | |
|---|---|
| Reference and administration details | 1 |
| Report of the trustees | 2 - 4 |
| Independent examiner’s report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the accounts |
8 – 14 |
TAPTONHOLME
REFERENCE AND ADMINISTRATIVE DETAILS
Legal status
Taptonholme is a charity (No. 515698) and a company limited by guarantee (No. 01848130)
It was set up on 13 September 1984 and is governed by its memorandum and articles of association.
Directors and trustees The directors of the charitable company (“the charity”) are its trustees for the purpose of charity law and throughout the report are collectively referred to as trustees. The Trustees of the charity are as follows: - M E Cowell – Chairman A Duffield J Liddle Dr. P Harvey D J Dunn V M Todd Secretary I Hewson Registered office 14 Taptonville Crescent Broomhill SHEFFIELD S10 5BP Independent examiner Nicola Adams ACA DChA BHP LLP 2 Rutland Park SHEFFIELD S10 2PD Bankers National Westminster Bank Plc 42 High Street Sheffield S1 2GE
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TAPTONHOLME
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
The Trustees, who are also directors for the purposes of the Companies Act, present their report with the financial statements for the year ended 31 December 2020.
The legal and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements and the memorandum and articles of association. They also comply with the Statement of Recommended Practice (SORP), 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).
Structure, governance and management
Trustees
The trustees of the charity during the year and up to the date of this report are as listed on page 1.
The trustees are elected at the Annual General Meeting but additional trustees can be appointed during the year by the Executive Management Committee.
Trustee training is delivered in an informal setting upon request if specific needs arise (e.g. new legislation).
All trustees give of their time freely and no remuneration was paid in the year. Details of expenses reclaimed from the charity are set out in note 4 to the accounts.
Company status
Since Taptonholme is a company limited by guarantee, it does not have any paid up share capital. Every member of the company has however guaranteed an amount not exceeding £1 each.
At the Balance Sheet date, the company had six members, all of whom are also directors and members of the Executive Management Committee. The Committee meets a minimum of four times a year and is responsible for managing the business of the organisation, safeguarding the assets of the organisation, and managing the funds of the organisation. Decisions are made by the Management Committee, with advice from the Home Manager.
Risk assessment
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The Management Committee have discussed, and reviewed on a regular basis all of the major risks to which the charity is exposed and have established systems to mitigate the risks.
Objectives and activities
The Objects of the charity are:
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To promote, manage and maintain a home for elderly persons
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To provide a caring environment in which residents can live as independent a life as possible
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To respect residents’ age, personal dignity, and create a friendly and cheerful atmosphere in which they can feel safe and valued.
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TAPTONHOLME
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
Objectives and activities - continued
To achieve the above objectives, we aim to:
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provide 24 hour care for the residents. Every resident has a detailed Care Plan drawn up which is agreed with the resident and his or her relatives, and which sets out the individual’s requirements, social, dietary and medical. The Care Plan is supervised by each resident’s own personal key-worker who has the responsibility for ensuring that the resident’s needs are met satisfactorily.
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provide a dedicated team of full and part time staff supervised day to day by the Manager. The Manager is responsible to the Chairman of the Board of Trustees with whom she has regular meetings. Training in up-to-date methods of care and in other appropriate health matters is undertaken by staff on a regular basis.
Achievements and performance
The Management Committee believes that the Charity has been successful in fulfilling its objectives. Meetings with residents and their families, together with continuing feedback from everyone concerned, indicates a widespread feeling that residents in the Home are happy and content with the facilities and care provided. The Home is registered with the Care Quality Commission ("CQC") and is subject to inspections, monitoring and review by CQC.
Public benefit
In planning their activities the trustees have considered the Charity Commission’s guidance on public benefit. In particular, we ensure that the Home continues to accept and retain residents with limited private financial resources. We also arrange regular open days when local people are invited and encouraged to visit the Home to help ensure it is part of the community.
Financial review and reserves policy
The Statement of Financial Activities for the year is set out on page 6 of the financial statements. Income the year amounted to £475,368 (2019: £560,734). Total expenditure amounted to £535,285 (2019: £546,395). Net expenditure for the year is £59,917 (2019: net income of £14,339). This results in unrestricted funds at the year end of £454,505 (2019: £514,422).
The accumulated funds of the charity at 31 December 2020 are shown in total in the Balance Sheet on page 7.
The trustees believe the minimum level of free reserves should be the equivalent of four months operating costs, calculated and reviewed annually. The required level at the year end is approximately £182,000. The reserves are needed because the charity is dependent upon income which is subject to fluctuation, and as it requires protection against the ability to continue operating despite unexpected and unforeseeable events, such as major repairs to the building. As at 31 December 2020 the charity has free reserves of £253,917. The free reserves are therefore meeting and exceeding the minimum level required, the equivalent of 5.6 months operating costs held as free reserves are not considered excessive.
Our principal source of income continues to be rent received from residents. The main item of expenditure continues to be staffing, followed by maintenance of the premises. These are all directed towards the core objectives referred to above.
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TAPTONHOLME
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Plans for future periods
The Executive Management Committee will continue to implement a rolling programme of improving the quality of the premises, the residents’ bedrooms, and all other common areas of occupancy. They will also invest in staff training and other related initiatives, to help ensure the quality of care provided is sustained and improved.
The charity continues to deal effectively with the impact of COVID-19, ensuring appropriate safeguards are in place to protect the residents, their families, and staff. The home has experienced a continuation of the reduction in occupancy throughout the period since the pandemic crisis began, but the trustees are confident that the overall picture remains solid with strong liquidity.
Trustees' responsibilities statement
The trustees (who are also directors of Taptonholme for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2019;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The report of the trustees has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
On behalf of the board of Trustees
M E Cowell
M E Cowell (Nov 1, 2021 13:41 GMT)
M E Cowell Trustee and Chairman
Nov 1, 2021
BHP LLP
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TAPTONHOLME
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TAPTONHOLME
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2020 which are set out on set out on pages 6 to 14.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Nicola Adams ACA DChA
BHP LLP 2 Rutland Park Sheffield S10 2PD
Nov 1, 2021
BHP LLP
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TAPTONHOLME
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 DECEMBER 2020
| Note Income from: Donations and legacies Investments Other income – COVID-19 grants Charitable activities: Fees for residential care Total income Expenditure on: Charitable activities 5 Total expenditure Net movement in funds for the year - net income/ (expenditure) for the year 2 Reconciliation of funds: Funds brought forward at 1 January 2020 Funds carried forward at 31 December 2020 |
Unrestricted Total Total 2020 2019 £ £ 354 - 967 683 14,807 - 459,240 560,051 475,368 560,734 535,285 546,395 535,285 546,395 (59,917) 14,339 514,422 500,083 454,505 514,422 |
|---|---|
All amounts derive from continuing activities. All gains and losses recognised in the year are included in the Statement of Financial Activities.
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TAPTONHOLME
BALANCE SHEET AS AT 31 DECEMBER 2020
| Note Fixed assets Tangible assets 6 Current assets Debtors 7 Cash at bank and in hand Creditors due within one year8 Net current assets Total net assets Funds Designated funds 9 General funds 9 |
Total 2020 £ 195,678 195,678 12,360 274,861 287,221 (28,394) 258,827 454,505 4,910 449,595 454,505 |
Total 2019 £ 199,958 199,958 16,120 326,859 342,979 (28,515) 314,464 514,422 4,910 509,512 514,422 |
|---|---|---|
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements were approved and signed by the Board of Trustees on Nov 1, 2021
M E Cowell
M E Cowell (Nov 1, 2021 13:41 GMT)
M E Cowell Trustee and Chairman
Company No 1848130
BHP LLP
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TAPTONHOLME
NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements are prepared under the historical cost convention. The financial statements have been prepared in accordance with Statement of Recommended Practice on Accounting and Reporting by Charities (SORP 2019), applicable accounting standards, Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.
Taptonholme meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Fund Accounting
Unrestricted funds are those 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 are funds set aside by the trustees out of unrestricted general funds for specific future purposes. Further details can be found in note 9 to the accounts.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes or allocated to specific grants.
Income
All income, including legacies and grants, are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be measured reliably and it is probable that the income will be received.
Fees for residential care represents fees charged to residents and are included in the period in which the service was provided.
Expenditure
Expenditure is included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered.
Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of an estimate of the proportion of time spent by staff on those activities.
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TAPTONHOLME
NOTES TO THE ACCOUNTS - CONTINUED YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES - continued
Expenditure – continued
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Charitable activities include expenditure associated with providing residential care and include both the direct costs and support costs relating to these activities.
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Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.
Tangible fixed assets and depreciation
Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, as follows:
Fixtures fittings and equipment 10% straight line Kitchen refurbishment (1988) 4% straight line
As from 1 January 1994 the property is no longer depreciated (until 31 December 1993 the rate was 1% on a straight line basis). This accounting policy is a departure from the Companies Act 2006 requirement for all tangible assets to be depreciated and FRS102, but in the opinion of the trustees it is maintained in good condition so that it’s value is not significantly impaired by the passage of time and in consequence any element of depreciation would be immaterial.
Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Pension
The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
Taxation
The company is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Pt. 11, Ch. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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TAPTONHOLME
NOTES TO THE ACCOUNTS - CONTINUED YEAR ENDED 31 DECEMBER 2020
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees considered the level of funds held and expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial Instruments. Financial Instruments are recognised in the company's balance sheet when it becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
2. NET INCOME/ (EXPENDITURE) FOR THE YEAR
| Deficit for the year is after charging: - Depreciation Independent examiner’s fee 3. STAFF COSTS The average number of employees during the year was The costs incurred in respect of employees were: - Wages and salaries Social security costs Defined contribution pension costs |
2020 £ 4,280 1,600 ______ 2020 No 21 2020 £ 371,893 21,946 5,848 399,687 |
2019 £ 4,280 1,600 ______ 2019 No 22 2019 £ 363,463 21,398 4,890 389,751 |
|---|---|---|
No employees received emoluments of more than £60,000 in either year. The total amount of employment benefits received by key management personnel is £41,664 (2019: £37,624). The charity considers its key management personnel to comprise the Home Manager.
4. TRUSTEES REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits paid during the year (2019: £nil).
There were no trustees’ expenses paid during the year (2019: £nil).
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TAPTONHOLME
NOTES TO THE ACCOUNTS - CONTINUED YEAR ENDED 31 DECEMBER 2020
| 5. ANALYSIS OF EXPENDITURE Costs of charitable activities Wages National insurance Defined contribution pension costs Agency staff Staff recruitment and training Payroll costs Food and household Insurance, water and council tax Gas and electricity Maintenance Telephone and postage Miscellaneous expenses Advertising and promotion Residents’ events Depreciation Bank charges Governance costs Treasurer’s fee Registration fees Independent examiner’s fees Total expenditure Total expenditure - 2019 |
Direct Support £ £ 371,893 - 21,946 - 5,848 - 725 - 1,662 - 3,120 - 40,532 - 16,467 - 18,664 - 24,237 - 3,276 - 3,526 - 3,585 - 1,094 - 4,280 - 1,024 - 521,879 - 9,418 - 2,388 - 1,600 - 13,406 - 535,285 - |
Direct Support £ £ 371,893 - 21,946 - 5,848 - 725 - 1,662 - 3,120 - 40,532 - 16,467 - 18,664 - 24,237 - 3,276 - 3,526 - 3,585 - 1,094 - 4,280 - 1,024 - 521,879 - 9,418 - 2,388 - 1,600 - 13,406 - 535,285 - |
2020 Total £ 371,893 21,946 5,848 725 1,662 3,120 40,532 16,467 18,664 24,237 3,276 3,526 3,585 3,585 4,280 1,024 521,879 9,418 2,388 1,600 13,406 535,285 |
2019 Total £ 363,463 21,398 4,890 2,730 5,941 2,340 47,417 14,875 15,272 33,230 4,234 4,863 2,686 3,389 4,280 1,171 532,179 10,198 2,418 1,600 14,216 546,395 |
|---|---|---|---|---|
| 546,395 | - | 546,395 |
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TAPTONHOLME
NOTES TO THE ACCOUNTS - CONTINUED YEAR ENDED 31 DECEMBER 2020
| 6. TANGIBLE ASSETS Fixtures Fittings & Kitchen Property Equipment Refurbishment COST £ £ £ At 1 January 2020 194,833 78,736 52,146 Additions - - - _ At 31 December 2020 194,833 78,736 52,146 DEPRECIATION At 1 January 2020 12,503 69,547 43,707 Charge for the year - 2,200 2,080 _ At 31 December 2020 12,503 71,747 45,787 NET BOOK VALUE At 31 December 2020 182,330 6,989 6,359 At 31 December 2019 182,330 9,189 8,439 7. DEBTORS 2020 £ Trade debtors 2,697 Prepayments 9,663 12,360 |
Total £ 325,715 - 325,715 125,757 4,280 130,037 195,678 199,958 2019 £ 7,722 8,398 16,120 |
|
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TAPTONHOLME
NOTES TO THE ACCOUNTS - CONTINUED YEAR ENDED 31 DECEMBER 2020
8. CREDITORS
| Trade creditors Taxation and social security Other creditors |
2020 £ 5,487 6,725 16,182 28,394 |
2019 £ 7,197 4,229 17,089 28,515 |
|---|---|---|
9. STATEMENT OF FUNDS
FUNDS – CURRENT YEAR
| Designated funds Capital fund (a) General funds General funds Total funds |
1.1.20 £ Income £ Expenditure £ 31.12.20 £ 4,910 - - 4,910 509,512 475,368 (535,285) 449,595 514,422 475,368 (535,285) 454,505 |
|---|---|
(a) This fund was set up in the early 1990s for the purpose of financing building additions.
FUNDS – PRIOR YEAR
| Designated funds Capital fund (a) General funds General funds Total funds |
1.1.19 £ Income £ Expenditure £ 31.12.19 £ 4,910 - - 4,910 495,173 560,734 (546,395) 509,512 500,083 560,734 (546,395) 514,422 |
|---|---|
10. RELATED PARTY TRANSACTIONS
There were no related party transactions during the year (2019: £nil)
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TAPTONHOLME
NOTES TO THE ACCOUNTS - CONTINUED YEAR ENDED 31 DECEMBER 2020
11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Current year Fixed assets Cash and current investments Other current assets / liabilities Total Prior year Fixed assets Cash and current investments Other current assets / liabilities Total |
Unrestricted funds Designated funds Total 2020 2020 2020 £ £ £ 195,678 - 195,678 269,951 4,910 274,861 (16,034) - (16,034) |
|---|---|
| 449,595 4,910 454,505 |
|
| Unrestricted funds Designated funds Total 2019 2019 2019 £ £ £ 199,958 - 199,958 321,949 4,910 326,859 (12,395) - (12,395) |
|
| 509,512 4,910 514,422 |
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