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2023-12-31-accounts

BROOKVALE

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Registered charity No: 526086

BARLOW ANDREWS LLP CHARTERED ACCOUNTANTS BOLTON

BROOKVALE

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

CONTENTS

Page
Trustees’ report 1 – 5
Independent auditor’s report 6 - 8
Statement of financial activities 9
Balance sheet 10
Statement of cash flows 11
Notes to the accounts 12 - 20

BROOKVALE

TRUSTEES’ REPORT

The trustees present their annual report and the audited financial statements of Brookvale (the “charity”) for the year ended 31 December 2023.

Reference and administrative information

Charity name Brookvale Charity registration number: 526086 Registered office and operational address: Simister Lane, Prestwich, Manchester, M25 2SF

Registered office and operational address:

Trustees

Mr S Pollock Mr S Larah Mr S Gold (deceased July 2023) Mr D Savage Mr M Walters (deceased June 2024) Mr A Waldman Principal staff members Lynne Richmond Executive Director Carl Richmond Chief Executive Officer Gareth Richmond Quality Assurance

Statutory auditor

Barlow Andrews LLP, Carlyle House, 78 Chorley New Road, Bolton, BL1 4BY

Bankers

HSBC Bank plc, 8 High Street, Manchester, M60 4AJ

Page 1

BROOKVALE

TRUSTEES’ REPORT (continued)

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s trust deed, the Charities Act 2011 and “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).”

Structure, governance and management

Governing document

Brookvale is a registered charity. The organisation was founded in 1951 and is governed by a trust deed adopted on 5 July 1992.

Organisational structure

Brookvale is governed by a board of trustees which meets monthly. The trustees, along with the principal staff members, are responsible for the strategic direction of the charity. They review wages and salaries annually and the remuneration of the key management personnel.

The day to day responsibility and management of the charity rests with the principal staff members. The executive director has overall responsibility for delivering the aims and objectives of Brookvale.

Trustees

The trustees who have served during the year and up to the date of this report are as listed on page 1.

Recruitment and appointment of trustees and board

The recruitment and appointment of trustees at Brookvale follows the conditions established within the trust deed.

The board is made up of executives (minimum 5, maximum 8) and committee members (maximum 6 members).

The executive trustees are able to propose and appoint trustees who in their opinion would benefit the objectives of the organisation.

Trustee induction and training

All trustees undergo an induction process into the workings of Brookvale. The induction covers the obligations of board members and their responsibilities, main documents setting out the organisation’s mission, vision and values, financial background and key strategic priorities.

Risk management

The trustees are continuing to review major strategies, business and operational risks which the charity faces, and consider that the existing systems in place are adequate to manage identified risks to an acceptable level.

Objectives and activities

Principal objectives

The principal object of the charity is the relief and care of persons with mental handicap learning disabilities.

In furtherance of the above object, the organisation shall have the power:

Each year the trustees review the objectives and activities of the charity to ensure they continue to reflect our aims and to provide a public benefit. The trustees are more than satisfied that they do.

Page 2

BROOKVALE TRUSTEES’ REPORT (continued)

Achievements, performance and future plans

The ongoing cost of the living crisis has had a profound effect on us all and none more so the impact on Social Care.

Here at Brookvale we continue to struggle with the challenges of ever increasing running costs. Nonetheless our prime objective is the high-quality care we provide to our vulnerable residents which we are sure is a source of comfort to their families and loved ones.

As a charity we have experienced the most difficult time in our long-distinguished history. Donations and legacies have diminished significantly over the years and now are practically non-existent. Sadly, this is the sign of the times where people have their own issues and charity is not at the forefront of their minds.

Our charitable activities are based on the payments we receive from the Local Authorities for their clients. Unfortunately, they too are facing significant challenges, and this has had a knock-on effect on the monies we receive from them. These payments in some instances are less than the actual cost of care. Fortunately, we have a steady additional revenue stream from our property portfolio but have experienced financial difficulties and have had to eat into our investments.

We are in the process of a budgeting review to enable longevity far into the future.

The maintenance of our buildings and grounds continues to be the subject of substantial cost and during this year we have finalised the installation of CCTV coverage of all areas for the protection of residents and staff. We have continued the project of installing state of the art fire doors throughout the complex and spent significantly on fire protection generally.

Utility and catering cost are still extremely high, as too are laundry and general maintenance costs. Despite the challenges, morale amongst our fabulous staff is high and they are supported by long term agency care staff. The continued professional development staff training comes at a high cost, but this is both mandatory and necessary.

We continue to strive to provide the very best care and environment for our residents in line with the fantastic reputation we have within in care circles.

For the record one of our long-term residents Paul Cowan moved to another provision in May 2023 as we were no longer able to provide for his complex needs.

Sadly, two of our longstanding Trustees, Stuart Gold and Maurice Walters passed away in July 2023 and June 2024 respectively. Both will be greatly missed by us all.

On a final note, we continue to be in a stable position unlike many providers in the care industry. We have a robust management structure which is supported by a strong Board of Trustees.

Financial review

The results for the year are shown in the Statement of Financial Activities on page 9 and our financial position at the end of the year is shown in the Balance Sheet on page 10.

We had net expenditure of £774,182 for the year. After net gains on investments and investment properties of £337,550 our net reduction in funds was £436,632. Expenditure on charitable activities exceeded income from charitable activities by over £1m, underlining the importance of having strong income streams from our investments and investment properties. We are also grateful, as ever, for the donations and bequests received each year.

The financial position of Brookvale remains healthy and there are no going concern issues.

Page 3

BROOKVALE

TRUSTEES’ REPORT (continued)

Principal funding sources

The majority of our income is generated from the provision of services to local authority social services departments, who are meeting the needs of individuals (most are fully funded).

Investment policy

The trustees are of the opinion that investments must be as safe as possible and therefore monies are placed with various banks in longer term fixed interest deposit accounts and checked on a regular basis. We also have monies invested with National Savings and Investments. In addition, we have some shares that were bequeathed to Brookvale over the years by various people and these have been retained to increase in value or to add the dividends to our income.

We also have our investment property portfolio. The rates of return are generally much better than can be achieved on bank deposits and other traditional investment types, and the investment is in properties which are unlikely to decrease in value.

Reserves policy

We are in a strong financial position, but the review of the year on page 3 demonstrates that we dare not be complacent and we must maintain our sound reserves base. There continues to be pressure on fees from local authorities, as discussed earlier. The ongoing difficult economic climate underlines the soundness of our policy to build a healthy reserves position, which enables us to withstand potential falls in income which might otherwise compromise the high quality of our services. We aim to maintain sufficient reserves (excluding the net book value of our tangible fixed assets) to cover up to 2 years’ full running costs of over £8m. At 31 December 2023 the balance of our unrestricted funds, less the net book value of our tangible fixed assets, totalled £7,539,557, allowing us to face the future with confidence.

The Building and Subsidy Fund stands at £5,258,718 at 31 December 2023. It is a designated fund which the trustees believe is required to maintain the buildings and other tangible fixed assets of the charity to a high standard for the long term and to underpin our charitable activities should funding be significantly hit at any stage. The fund will be used as and when required.

Page 4

BROOKVALE

TRUSTEES’ REPORT (continued)

Statement of trustees’ responsibilities

The trustees are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare the financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements the trustees are required to:

The trustees are responsible for keeping sufficient accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and 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 or other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of disclosure to auditor

So far as the trustees are aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the trustees have taken all the necessary steps that they ought to have taken as trustees in order to make themselves aware of all relevant audit information and to establish that the charity’s auditor is aware of that information.

Auditor

A resolution for the reappointment of Barlow Andrews LLP as auditor is to be proposed at the forthcoming Annual General Meeting. The trustees recommend that Barlow Andrews LLP remain in office until further notice.

Approved by the trustees on and signed on its behalf:

S Pollock Trustee

26 June 2024

Page 5

BROOKVALE

INDEPENDENT AUDITOR’S REPORT

TO THE TRUSTEES OF BROOKVALE

Opinion

We have audited the financial statements of Brookvale for the year ended 31 December 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ 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 to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 6

BROOKVALE

INDEPENDENT AUDITOR’S REPORT (CONTINUED)

TO THE TRUSTEES OF BROOKVALE

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to 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 (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities including fraud. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Page 7

BROOKVALE

INDEPENDENT AUDITOR’S REPORT (CONTINUED)

TO THE TRUSTEES OF BROOKVALE

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect that those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to 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 to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

David Kay (Senior Statutory Auditor) for and on behalf of Barlow Andrews LLP Chartered Accountants and Statutory Auditor Carlyle House, 78 Chorley New Road, Bolton 26 June 2024

Barlow Andrews LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Page 8

BROOKVALE

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
Income from:
Donations and legacies
3
Investments
4
Charitable activities
5
Other income
6
Total Income
Expenditure on:
Cost of generating funds
8
Charitable activities
9
Total expenditure
Net income/(expenditure) before gains and losses on investments
Net gains/(losses) on investments and investment properties
7
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
20		 Total
funds
2023
£
Total
funds
2022
£
39,550
104,894
321,185
229,891
3,099,294
3,090,067
-
46,166
3,460,029
3,471,018
48,613
85,392
4,185,598
3,888,965
4,234,211
3,974,357
(774,182)
(503,339)
337,550
(1,437)
(436,632)
(504,776)
11,215,565
11,720,341
10,778,933
11,215,565

The statement of financial activities includes all gains and losses recognised in the year.

All of the charity’s operations are classed as continuing and all income and expenditure relates to unrestricted funds.

Page 9

BROOKVALE

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Tangible fixed assets
13
Investment properties
14
Investments
15
Current assets
Debtors
16
Cash at bank and in hand
Current liabilities:
Creditors: amounts falling due in less than
one year
17
Net current assets
Total net assets
The funds of the charity
Unrestricted funds
20
Total charity funds		 2023
£
£
3,239,376
4,626,701
2,727,721
10,593,798
168,365
332,103
500,468
(315,333)
185,135
10,778,933
10,778,933
10,778,933		 2022
£
£
3,441,761
4,294,879
3,132,916
10,869,556
139,965
460,821
600,786
(254,777)
346,009
11,215,565
11,215,565
11,215,565		 2022
£
£
3,441,761
4,294,879
3,132,916
10,869,556
139,965
460,821
600,786
(254,777)
346,009
11,215,565
11,215,565
11,215,565
10,869,556
346,009
500,468
(315,333)		 600,786
(254,777)
11,215,565
11,215,565
11,215,565

The accounts were approved by the board of trustees and signed on its behalf:

S Pollock Trustee

26 June 2024

Page 10

BROOKVALE

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2023

Cash flows from operating activities:
Net movement in funds for the year
Adjustments for:
Depreciation
(Losses)/gains on investments
Investment income
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Cash (used in)/generated from operations
Cash flows from investing activities:
Income from investments and investment properties
Purchase of property, plant and equipment
Purchase of investment properties
Net cash generated from/(used in) investing activities
Net (decrease) in cash and cash equivalents
Cash and cash equivalents at start of year
Cash and cash equivalents at end of year(see below)
Analysis of cash and cash equivalents
Cash at bank and in hand
Cash deposits held as investments		 2023
£
(436,632)
307,571
(337,550)
(321,185)
(28,400)
60,555
(755,641)
321,185
(105,186)
-
215,999
(539,642)
3,573,150
3,033,508
332,103
2,701,405
3,033,508		 2022
£
(504,776)
322,938
1,437
(229,891)
51,476
(10,333)
(369,149)
229,891
(30,692)
(237,037)
(37,838)
(406,987)
3,980,137
3,573,150
460,821
3,112,329
3,573,150

Page 11

BROOKVALE

YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS

1. Accounting policies

Brookvale is an unincorporated registered charity, governed by a trust deed adopted on 5 July 1992. The registered office is Simister Lane, Prestwich, Manchester.

a) Accounting convention

These accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have been prepared on the historical cost convention, modified to include investment properties and certain financial instruments at fair value.

b) Going concern

At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the accounts.

c) Charitable funds

General funds are unrestricted funds which represent accumulated income less direct charitable expenditure and other expenditure. They 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 trustees for particular purposes, as explained further in note 20 to the accounts.

d) Income

Income is generally recognised on a receivable basis and is reported gross of related expenditure, where the amount is reasonably certain and when there is adequate certainty of receipt.

The specific bases used are as follows.

Page 12

BROOKVALE

YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

1. Accounting policies (continued)

e) Expenditure

Expenditure is accounted for on an accruals basis and is included under expense categories which aggregate all costs for allocation to activities.

Expenditure is recognised when it is incurred and is reported gross of related income on the following bases:

f) Investments

Investments intended to be held long term are initially measured at transaction price and then subsequently measured at fair value at each financial reporting date. Market value is used as a representation of fair value. Changes in fair value are recognised in the statement of financial activities for the year and transaction costs are expensed as incurred.

g) Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially measured at cost and subsequently measured using the fair value model and stated at its fair value at the financial reporting date. The surplus or deficit on revaluation is recognised in the statement of financial activities for the year.

h) Tangible fixed assets and depreciation

Tangible fixed assets costing more than £2,000 are capitalised and included in the balance sheet at their cost.

Depreciation is provided on all tangible assets at rates calculated to write off the cost of those assets, less their estimated residual value, over their expected useful lives, as follows.

Freehold land Nil Simister Lane buildings 2.5% straight line Swimming pool complex 7.5% reducing balance Holiday homes 2.5% straight line Motor vehicles 25% reducing balance Fixtures and fittings 15% reducing balance

j) Pensions

The charity operates defined contribution pension schemes for its employees, administered by independent managers, the assets of which are held separately from those of the charity. The pension costs charged in the financial statements represent the contributions payable by the charity during the year.

k) Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Page 13

BROOKVALE

YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

l) Taxation

The organisation has charitable status and remains exempt from taxation of its income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that they are applied to its charitable objectives.

m) Cash and cash equivalents

Cash and cash equivalents include cash in hand, bank deposits held at call and other short-term liquid investments with original maturities of three months or less.

n) Financial instruments

The charity 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 charity's balance sheet when the charity 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.

Basic financial assets

Basic financial assets, which include cash and bank balances and trade debtors, are measured at transaction price.

Other financial assets

Financial assets classified as other financial assets, such as investments, are stated at fair value. Any gains or losses arising on re-measurement are recognised in the statement of financial activities.

Basic financial liabilities

Basic financial liabilities, which include other creditors, are recognised at transaction price.

2. Judgements and key sources of estimation uncertainty

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Investment properties

The fair value of the charity’s investment properties has been arrived at on the basis of a valuation carried out at that date by the charity’s trustees with the assistance of local experts, based on market evidence and local knowledge.

Page 14

BROOKVALE

YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

3.
Donations and legacies
Donations
Legacies
4.
Investment income
Rental income
National Savings investment
Bank interest
5.
Income from charitable activities
Provision of residential, respite and day care
6.
Other income
Covid-19 support grant from Bury MBC
7.
Net gains/(losses) on investments and investment properties
Gains/(losses) on revaluation of UK listed investments
Gains on revaluation of investment properties		 2023
£
38,050
1,500
39,550
2023
£
217,134
799
103,252
321,185
2023
£
3,099,294
3,099,294
2023
£
-
-
2023
£
5,729
331,821
337,550		 2022
£
27,399
77,495
104,894
2022
£
172,813
276
56,802
229,891
2022
£
3,090,067
3,090,067
2022
£
46,166
46,166
2022
£
(1,437)
-
(1,437)

Page 15

BROOKVALE

YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

8. Costs of generating funds

Property costs
Support costs in administration of investments etc.
9.
Costs of charitable activities
Directly allocated costs
Provisions
Water and council tax
Insurance
Gas and electricity
Motor and travel expenses
Medical supplies
Professional fees
Nursing agency fees
Laundry and cleaning
Staff training and educational development
Printing, stationery and advertising
Telephone
Repairs, renewals and maintenance
Land and garden expenses
Sundry expenses
Bedding
Bank charges
Wages and salaries
National insurance
Pension costs
Depreciation
Support costs
Wages and salaries
National insurance
Pension costs
Accountancy and payroll fees
Governance costs
Auditors’ remuneration
Trustee indemnity insurance		 2023
£
29,102
19,511
48,613
202,266
20,015
52,792
209,868
22,687
67,306
26,210
580,711
57,510
32,037
12,408
32,337
214,897
5,656
30,362
7,255
2,709
1,825,263
169,529
40,433
307,571
3,919,822
205,272
25,190
2,521
14,370
247,353
13,506
4,917
18,423
4,185,598		 2022
£
69,162
16,230
85,392
170,350
37,715
54,709
207,916
21,409
73,373
19,497
354,472
54,496
25,800
10,733
25,978
285,571
1,732
3,090
3,615
2,038
1,773,216
156,552
37,534
322,938
3,642,734
193,827
24,840
2,519
11,040
232,226
9,600
4,405
14,005
3,888,965

Support costs include the central functions, including the staff costs of management, and are based on the time spent on a particular activity.

Page 16

BROOKVALE

YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

10. Net income

This is stated after charging:
Depreciation
Auditors’ remuneration
11.
Staff costs
Staff costs were as follows:
Wages and salaries
Social Security costs
Pension costs (see note 12)
The average number of employees was:
Carers and auxiliary staff
Management and administration of the charity		 2023
£
307,571
13,506
2023
£
2,030,535
194,719
42,954
2,262,368
2023
64
7
71		 2022
£
322,938
9,600
2022
£
1,967,043
181,392
40,053
2,188,488
2022
67
6
73

The number of employees whose total employee benefits, excluding pension contributions, were over £60,000, classified within bands of £10,000, is as follows:

lassified within bands of £10,000, is as follows:
2023 2022
£60,000 - £69,999 2 1
£110,000 - £119,999 1 1

The employee benefits of the key management personnel totalled £426,352 (2022: £432,957).

No remuneration or expenses, directly or indirectly out of the funds of the charity, were paid or payable during the year to any trustee or to any persons known to be connected to them. The charity spent £4,917 (2022: £4,405) in the purchase of insurance to indemnify the trustees against the consequences of any neglect or default in relation to the charity.

12. Pension costs

The charity operates defined contribution pension schemes for its employees, administered by independent managers, the assets of which are held separately from those of the charity. The pension charge in note 11 represents contributions due from the charity in the year.

Page 17

BROOKVALE

YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

13. Tangible fixed assets

Cost
At 1 January 2023
Additions
Transfer to investment property
At 31 December 2023
Depreciation
At 1 January 2023
Charge for the year
Transfer to investment property
At 31 December 2023
Net book values
At 31 December 2023
At 31 December 2022		 Simister
Lane
land and
buildings
Holiday
homes
Fittings
and
equipment
Motor
vehicles
Total
£
£
£
£
£
5,583,547
400,879
3,052,502
80,385
9,117,313
-
-
85,196
19,990
105,186
-
-
-
-
-
5,583,547
400,879
3,137,698
100,375
9,222,499
3,435,168
170,760
1,998,803
70,821
5,675,552
125,535
10,044
167,058
4,934
307,571
-
-
-
-
-
3,560,703
180,804
2,165,861
75,755
5,983,123
2,022,844
220,075
971,837
24,620
3,239,376
2,148,379
230,119
1,053,699
9,564
3,441,761

Included in land and buildings is freehold land costing £5,078 (2022: £5,078) which is not depreciated.

All properties are freehold with the exception of holiday homes, which are long leasehold.

14. Investment properties

At valuation
At 1 January 2023
Additions in the year at cost
Revaluations in the year
At 31 December 2023		 £
4,294,879
-
331,822
4,626,701

Investment property comprises a portfolio of 12 properties held with the intention of obtaining rental income. The valuation of investment properties is considered on a rolling basis each year based on market evidence and local knowledge. The most recent valuation, which was carried out by Clive Anthony Estates Limited, was performed shortly after the year end on 9 of the properties.

The historical cost of the investment properties is £3,959,388 (2022: £3,959,388).

Page 18

BROOKVALE

YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

15. Fixed asset investments

Cash deposits:
Israeli Bonds
N S & I
UK listed investments		 Brought
forward
£
Additions
£
Disposals
£
Revaluations/
interest
£
Carried
forward
£
% Share of
total
2,815,000
600,000
(765,000)
-
2,650,000
97.15%
297,329
-
(247,000)
1,076
51,405
1.88%
3,112,329
600,000
(1,012,000)
1,076
2,701,405
99.03%
20,587
-
-
5,729
26,316
0.97%
3,132,916
600,000
(1,012,000)
6,805
2,727,721
100.00%

Investments are stated at their fair value (see note 1f).

16. Debtors

Trade receivables - amounts due for provision of care
Prepayments and accrued income		 2023
£
694
167,671
168,365		 2022
£
15,838
124,127
139,965

17. Current liabilities

Trade payables
PAYE and national insurance
Pension creditors
Accruals
Deferred income
Other creditors		 2023
£
45,227
44,181
619
104,528
114,741
6,037
315,333		 2022
£
90,752
42,141
619
96,325
19,983
4,957
254,777

Deferred income is in respect of amounts invoiced to local authorities, which can include an element of income relating to post-year end. The amounts involved can vary from one period to another.

18. Financial instruments

Carrying amount of financial assets
Being trade receivables, cash and bank balances and fixed asset investments
Carrying amount of financial liabilities
Being current liabilities excluding deferred income and PAYE and national insurance		 2023
£
3,060,518
156,411		 2022
£
3,609,575
192,653

Page 19

BROOKVALE

YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS (continued)

19. Analysis of net assets between funds

All funds, including designated funds, are unrestricted and therefore all assets and liabilities relate to unrestricted funds.

20. Movements in funds

Current year
Designated funds
Building and Subsidy Fund (see note below)
General funds
General Fund
Total unrestricted funds
Prior year
Designated funds
Building and Subsidy Fund (see note below)
General funds
General Fund
Total unrestricted funds		 Balance at
start of year
Income
Expenditure
Investment
gains
Balance at
end of year
£
£
£
£
£
5,249,327
9,391
-
-
5,258,718
5,966,238
3,450,639
(4,234,212)
337,550
5,520,215
11,215,565
3,460,030
(4,234,212)
337,550
10,778,933
5,244,569
4,758
-
-
5,249,327
6,475,772
3,466,260
(3,974,357)
(1,437)
5,966,238
11,720,341
3,471,018
(3,974,357)
(1,437)
11,215,565

Designated funds: The Building and Subsidy Fund represents funds which the trustees believe are required to maintain the buildings and other tangible fixed assets of the charity to a high standard for the long term and to underpin our charitable activities should regular funding streams be significantly hit at any point.

21. Related party transactions

One of the investment properties is rented to Mr M Walters (trustee) at fair value. Another of the investment properties is rented to Mr G Richmond (Quality Assurance Manager), which is also done at fair value.

Page 20