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2023-03-31-accounts

Registered number: 0600800 Charity number: 0527036

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Trustees' Report and Financial Statements

for the year ended 31 March 2023

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Contents

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 7
Independent Auditor's Report on the Financial Statements 8 - 11
Statement of Financial Activities 12
Balance Sheet 13
Statement of Cash Flows 14
Notes to the Financial Statements 15 - 30

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Reference and Administrative Details of the Charity, its Trustees and Advisers for the year ended 31 March 2023

Trustees Christine Lobley
Joan Roebuck
Anthony Wilkinson, Chairman
Carol Reeds
Company registered
number
0600800
Charity registered number
0527036
Registered office
Redcourt
Hollincross Lane
Glossop
Derbyshire
SK13 8JH
Company secretary
Mrs Emma Oakes
Senior management team
Emma Oakes, Finance Executive
Susan Hammond, Head of Care
Michelle Cuddy, HR Manager
Independent auditor
Hurst Accountants Limited
Chartered Accountants & Statutory Auditors
Lancashire Gate
21 Tiviot Dale
Stockport
Cheshire
SK1 1TD
Bankers
National Westminster Bank Plc
Norfolk Square
High Street West
Glossop
Derbyshire
SK13 8BR

Page 1

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Trustees' Report for the year ended 31 March 2023

The Trustees (who are also directors of the Charity for the purposes of the Companies Act) present their annual report together with the audited financial statements for the year 1 April 2022 to 31 March 2023, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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).

The Trustees who served during the reporting period were:

Mr Anthony Wilkinson (Chairman) Mrs Christine Lobley Mrs Joan Roebuck Ms Carol Reeds

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

The charitable objectives in the Memorandum and Articles for which the Charity is established are:

To provide care and support for adults with disabilities and the elderly for the public benefit and to provide social housing and housing support.

b. Strategies for achieving objectives

The philosophy of the Charity remains the same as when it was first founded, that all residents and service users should receive the necessary care, guidance, support, and training to enable them to reach their full potential and to lead as normal a life as possible. The Charity is committed to providing the best possible care and support to achieve optimum outcomes for its residents and service users. The Charity is constantly working to raise standards and improve quality.

c. Activities undertaken to achieve objectives

The Charity’s main activities are the provision of care and housing to adults with disabilities. It provides residential care to adults at Redcourt, and it provides housing and domiciliary care for service users in 7 houses in the community. It also provides domiciliary care for people living in their own homes in the High Peak area.

d. Main activities undertaken to further the Charity's purposes for the public benefit

The Trustees confirm that they have complied with the duty under Section 4 of the Charities Act 2011 to have due regard to the Charity Commission's guidance on public benefit. Although the Charity is a fee charging charity, no person is excluded from its services based on their financial situation, as the local authority is liable for the care cost and not the individual. The Charity provides specialist care for older adults with disabilities who would otherwise be given a bed in a standard care home for the elderly, which would be unable to meet their needs.

Page 2

(A Company Limited by Guarantee)

St Christopher's (Glossop) Limited

Trustees' Report (continued) for the year ended 31 March 2023

Achievements and performance

a. Review of activities

The charity's plan for the year was to continue looking for new clients to fill voids in the care home and houses, and to promote its services. The care home gained six new clients in the year.

The trust increased its fundraising activities by holding coffee mornings, raffles, car boots sales and craft stalls. It also held its first Christmas Ball which raised over £1,000 for the trust.

Staff and supporters took part in several sponsored events to raise money for the trust. These included a 100k Challenge, where staff were sponsored to complete 100,000 steps. Sam was sponsored to take part in the Tough Mudder and Jamie was sponsored to take part in the Manchester run. Everyone taking part completed the challenges and raised funds for the trust.

The charity also increased its social activities for clients in the community. It now holds a weekly coffee morning with activities and entertainment on Tuesdays and a social and craft group every other Thursday. It also supports clients to activities at the local leisure centre each week. It held a Halloween party and a Christmas party for its clients.

The trust has started applying for grants to help towards the costs of social activities and also for purchases within the care home.

b. Investment policy and performance

The Charity has approximately £2.5m of assets, most of which relate to properties used for charitable activities. In addition, it holds cash reserves to cover planned and unplanned expenditure. The Charity wishes to balance the needs of current and future beneficiaries.

The Trustees of the Charity are governed by the Trustee Act 2000 which sets out the general power of investment.

Investment objectives

The Charity seeks to produce the best financial return within an acceptable level of risk. The investment objective for the short term reserves is to preserve the capital value with a minimum level of risk. Assets should be readily available to meet unanticipated cash flow requirements.

Risk

The Charity holds assets to fund planned expenditure over the next three years. As such, capital volatility cannot be tolerated and assets should be invested to minimise risk. The Charity's short term assets are held in cash or near cash investments denominated in sterling.

Liquidity requirements

To allow for unexpected events, the Trustees wish to maintain at least 3 months worth of running costs in cash or lower risk liquid investments.

Time horizon

The Charity has divided its reserves into those expected to be held long term and those that may be needed in the short term.

Management reporting and monitoring

The Charity manages its own cash deposits and has nominated a list of authorised signatories, two of whom are required to sign instructions to the deposit-taking institution. The Finance Executive monitors the cash position and prospective cash flow schedule and reports this to the Board of Trustees at each monthly meeting.

Page 3

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Trustees' Report (continued) for the year ended 31 March 2023

Achievements and performance (continued)

Approval and Review

The investment policy was prepared by the Finance Executive of the Charity to provide a framework for the management of its assets. It will be reviewed on an annual basis to ensure continuing appropriateness.

Financial review

a. 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.

b. Financial review

This has been a good year in terms of financial performance. The trust has generated a surplus of £86,750 for the year. Although this is lower than last year’s surplus of £185,054, it is still a very good performance considering that no grants were received in the year. This level of surplus is similar to what the charity was achieving prior to the Covid-19 pandemic.

Total income has increased by £69,339 which is an increase of 3%. The income from charitable activities has increased by £201,720, which is a 10% increase on last year’s figures. This is due to an increase in the charity's residential and domiciliary fee rates in the year along with an increase in the number of residential clients served by the trust. The trust gained four new residential clients during the year which made the care home fully occupied for the first time.

Income from grants has decreased by £106,202 on the previous year. The previous years grants related to support from the local authority for costs related to Covid-19. These grants ceased in the prior year and no grants were received in the current year.

Expenditure also increased during the year with an increase in expenditure on charitable activities of £171,989 from last year, which is an increase of 10%. The main source of the increased expenditure was staff costs, with the increase in the minimum wage pushing up staff hourly rates. The trust also experienced an increase in most of its expenses during the year, with inflation pushing up the costs of most goods and services.

The trust's balance sheet is showing a strong position at the end of 2023. During the year the trustees made the decision to use some of its cash reserves to make a lump sum repayment against its loan balance. The decision was taken due to rising interest rates. Business savings account interest rates were not rising in line with loan interest rates, so the charity would benefit more from repaying part of the loan than it would from putting these funds into a savings account. A sum of £250,000 was repaid. Without this repayment the charity would have been very close to achieve its reserves target but it was felt that repaying some of the loan was a better long-term decision for the charity. The loan balance at the year-end was £128,217 ( 2022 £402,508 ).

c. Principal risks and uncertainties

The Trustees have a risk management strategy that comprises a quarterly review of the risk matrix to identify and update current risks and the establishment of policies, systems, and procedures to mitigate those risks.

The risk matrix covers financial, governance and operational risks in particular, and it has controls in place to minimise all known risks.

The main risks facing the charity are the lack of new business coming into the charity and the financial constraints placed on the local authority’s social care budget.

Page 4

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Trustees' Report (continued) for the year ended 31 March 2023

d. Reserves policy

The Trustees have set a free reserves policy of maintaining free reserves to provide working capital equivalent of three months' running costs for residential care, management, and governance. At present, this amounts to £547,000. The Trustees think this is a prudent approach in view of the Charity’s dedication to its beneficiaries. The Trust did not meet its reserves target at the year-end but it did increase its reserves significantly from the previous years figures. The trust plans to continue to increase its free reserves until it meets its reserves target.

Total reserves at the year-end were £2,474,227 (2 022: £2,387,477 ), including reserves locked up in fixed assets totalling £2,203,339 ( 2022: £2,371,122 ), leaving free reserves of £270,888 ( 2022: £116,355 ).

Structure, governance and management

a. Constitution

The Charity is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 18/03/1958.

The Charity is a registered charity number 0527036, company number 0600800. The registered office is Redcourt, Hollincross Lane, Glossop, Derbyshire, SK13 8JH.

b. Methods of appointment or election of Trustees

Membership of the Charity is open to anyone wishing to contribute to the work of the organisation. Prospective Trustees are invited to attend the Management Committee for a probationary period before being formally invited for election at an AGM.

c. Policies adopted for the induction and training of Trustees

The Charity has assembled an information pack for Trustees. This contains details of the structure of, and post holders within, the establishment as well as copies of Charity Commission publications on the role of Trustees. Support for new Trustees is provided on request by the Chair.

d. Organisational structure and decision making

The Charity is governed by a Council called The Management Committee. Four serving members of the Management Committee were elected at the last AGM. The Management Committee meets monthly with the Senior Management Team to review the Charity's performance and plan its future activities.

Council members act as Trustees and have the powers and obligations of company directors under the Companies Act 2006. No Trustee is entitled to or paid any remuneration, although they are entitled to reclaim expenses. During the year, two Trustees reclaimed travel expenses totalling £1,305 ( 2022: £977 ). The Charity also purchased insurance to protect it from any loss which might arise from neglect or any default of its senior staff or Trustees and to indemnify the Trustees against the consequences of loss or default on their part.

e. Related party relationships

During the year, two Trustees reclaimed travel expenses totalling £1,305 ( 2022: £977 ). There were no other related party transactions.

f. Risk management

The Board has an established arrangement for the systematic assessment and periodic review of the risks facing the organisation, with appropriate measures being taken to prioritise, manage and minimise risks identified. In particular, it has considered financial, governance and operational risks and controls are in place to minimise all known risks.

21 Oct 2023

Page 5

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Trustees' Report (continued) for the year ended 31 March 2023

Future developments

The charity's plan for the coming year is to continue looking for new clients to fill the care home and domiciliary voids.

The trust wants to build on the success of last year’s fundraising events and has several events planned for the coming year. This is an area we want to focus on, both to raise funds and improve the trust's profile.

The trust also wants to grow its social activities for its current clients and people in the local community with learning disabilities. If we are successful in our grant applications, then this is an area which could see significant growth in the coming years.

The trust wants to continue applying for grants to contribute to both social activities and for purchase within the care home.

The trustees intend to focus on gaining new trustees for the charity. The charity only has four trustees at the year end. They would like this number to double if possible and will be looking at ways to attract and retain new trustees.

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Charity for the purposes of company law) 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).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they 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:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions 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 Companies Act 2006. 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.

Disclosure of information to auditor

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

Auditor

The auditor, Hurst Accountants Limited, has indicate their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditor at a meeting of the Trustees.

Page 6

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Trustees' Report (continued) for the year ended 31 March 2023

Approved by order of the members of the board of Trustees and signed on their behalf by:

A D WILKINSON

................................................

Mr Anthony Wilkinson Chairman

Date: 21 Oct 2023

Page 7

(A Company Limited by Guarantee)

St Christopher's (Glossop) Limited

Independent Auditor's Report to the Members of St Christopher's (Glossop) Limited

Opinion

We have audited the financial statements of St Christopher's (Glossop) Limited (the 'charity') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, 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).

In our opinion the financial statements:

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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 charitable company'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 the 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 8

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Independent Auditor's Report to the Members of St Christopher's (Glossop) Limited (continued)

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) 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 charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so.

Page 9

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Independent Auditor's Report to the Members of St Christopher's (Glossop) Limited (continued)

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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

Audit response to risks identified

Our procedures to respond to the risks identified included the following:

Page 10

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Independent Auditor's Report to the Members of St Christopher's (Glossop) Limited (continued)

We have also considered the risk of fraud through management override of controls by:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of them. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through 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 charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members 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 charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

HABesantRoberts

Helen Besant-Roberts (Senior Statutory Auditor)

for and on behalf of Hurst Accountants Limited

Chartered Accountants & Statutory Auditors Lancashire Gate 21 Tiviot Dale Stockport Cheshire SK1 1TD

Date: 23 Oct 2023

Page 11

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Statement of financial activities (incorporating income and expenditure account) for the year ended 31 March 2023

Note
Income from:
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Other income
7
Total income
Expenditure on:
Governance costs
Charitable activities
8
Total expenditure
Net movement in funds before other recognised gains
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward
Unrestricted
funds
2023
£
1,196
2,263,698
6,424
63
2,271,381
27,611
2,157,020
2,184,631
86,750
2,387,477
86,750
2,474,227
Total
funds
2023
£
1,196
2,263,698
6,424
63
2,271,381
27,611
2,157,020
2,184,631
86,750
2,387,477
86,750
2,474,227
Total
funds
2022
£
133,985
2,061,978
1,027
5,052
2,202,042
22,095
1,994,893
2,016,988
185,054
2,202,423
185,054
2,387,477

The notes on pages 15 to 30 form part of these financial statements.

Page 12

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee) Registered number: 0600800

Balance Sheet as at 31 March 2023

Note
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
21
Creditors: amounts falling due within one year
14
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than
one year
15
Total net assets
Charity funds
Restricted funds
17
Unrestricted funds
17
Total funds
139,039
514,113
653,152
(287,818)
2023
£
2,203,339
365,334
2,568,673
(94,446)
2,474,227
-
2,474,227
2,474,227
132,547
612,836
745,383
(256,254)
2022
£
2,271,122
489,129
2,760,251
(372,774)
2,387,477
-
2,387,477
2,387,477

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

A D WILKINSON

................................................

Mr Anthony Wilkinson Chairman

Date: 21 Oct 2023

The notes on pages 15 to 30 form part of these financial statements.

Page 13

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Statement of Cash Flows for the year ended 31 March 2023

Note
Cash flows from operating activities
Net cash used in operating activities
20
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Repayments of borrowing
Net cash used in financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
21
2023
£
203,634
(27,994)
(27,994)
(274,363)
(274,363)
(98,723)
612,836
514,113
2022
£
277,338
(9,448)
(9,448)
(28,844)
(28,844)
239,046
373,790
612,836

The notes on pages 15 to 30 form part of these financial statements

Page 14

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2023

1. General information

St Christopher's (Glossop) Limited is a charity limited by guarantee, incorporated in the United Kingdom. The registered office of the charity is Redcourt, Hollincross Lane, Glossop, Derbyshire, SK13 8JH.

The principal activity of the charity is to provide residential care and support, supported tenancies and domicilary care and support for adults with learning disabilities.

2. Accounting policies

2.1 Basis 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

St Christopher's (Glossop) Limited 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.

2.2 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.

2.3 Income

Residential

Residential income is recognised on a monthly basis for each resident in occupancy in a given month. Alternations arising from rate increases are taken into account when they occur.

Domiciliary

Domiciliary income is recognised on a contractual basis, based on the number of chargeable hours at a predetermined hourly rate. Alternations arising from rate increases are taken into account when they occur.

Tenancy

Tenancy income is recognised on a time apportioned basis over the length of the tenancy agreements.

Grants

Grants are credited to the Statement of Financial Activities as the related expenditure is incurred.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Page 15

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2023

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are 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 time spent, and depreciation charges allocated on the proportion 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.

All expenditure is inclusive of irrecoverable VAT.

2.5 Government grants

Government grants of £Nil ( 2022: £106,202 ) are credited to the Statement of Financial Activities as the related expenditure is incurred. The Government grant received is in relation to the Coronavirus Job Retention Scheme and Local authority grants to cover increased costs relating to infection control, rapid testing and workforce capacity.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

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, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Freehold property - Over 15 years or 50 years straight line
Long-term leasehold property - Over 50 years straight line
Leasehold improvements - Over 6 years straight line
Office equipment - Over 3 years straight line
Computer equipment - Over 3 years straight line

Page 16

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2023

2. Accounting policies (continued)

2.7 Debtors

Trade and other debtors are recognised at the 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.

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.

Liabilities are recognised at the amount that the Charity anticipates 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 the present value of those amounts, discounted at 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 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.11 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 notes to the financial statements.

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. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 17

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2023

3. Critical accounting estimates and areas of judgement

Estimates and judgements 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 judgement:

Accruals and deferred income

Accruals and deferred income are entered in the financial statements based on management expectations, taking into account various factors relevant to each individual item. The Charity recognised accruals and deferred income at 31 March 2023 of £39,788 ( 2022: £25,110 ).

Depreciation

The charity exercises judgement in estimating the useful economic life its fixed assets.

4. Income from donations and legacies

Donations
Grants
Total 2022
Unrestricted
funds
2023
£
1,196
-
1,196
45,683
Restricted
funds
2023
£
-
-
-
88,302
Total
funds
2023
£
1,196
-
1,196
133,985
Total
funds
2022
£
27,783
106,202
133,985

Page 18

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2023

5. Income from charitable activities

Residential
Domiciliary
Tenancy
Total 2022
Unrestricted
funds
2023
£
790,908
1,320,724
152,066
2,263,698
2,061,978
Total
funds
2023
£
790,908
1,320,724
152,066
2,263,698
2,061,978
Total
funds
2022
£
683,924
1,245,732
132,322
2,061,978

6. Income from other trading activities

Income from fundraising events

Fundraising
Total 2022
Unrestricted
funds
2023
£
6,424
1,027
Total
funds
2023
£
6,424
1,027
Total
funds
2022
£
1,027

Page 19

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2023

7. Other incoming resources

Profit on disposal of fixed assets
Other income
Total 2022
Unrestricted
funds
2023
£
-
63
63
5,052
Total
funds
2023
£
-
63
63
5,052
Total
funds
2022
£
5,000
52
5,052

8. Analysis of expenditure on charitable activities

Summary by fund type

Residential
Domiciliary
Tenancy
Total 2022
Unrestricted
funds
2023
£
764,431
1,274,858
117,731
2,157,020
1,906,591
Restricted
funds
2023
£
-
-
-
-
88,302
Total
2023
£
764,431
1,274,858
117,731
2,157,020
1,994,893
Total
2022
£
698,521
1,198,557
97,815
1,994,893

Page 20

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2023

8. Analysis of expenditure on charitable activities (continued)

Summary by expenditure type

Residential
Domiciliary
Tenancy
Total 2022
Staff costs
2023
£
580,684
1,177,329
17,807
1,775,820
1,674,533
Depreciation
2023
£
60,339
4,789
30,649
95,777
92,338
Other costs
2023
£
123,408
92,740
69,275
285,423
228,022
Total
2023
£
764,431
1,274,858
117,731
2,157,020
1,994,893
Total
2022
£
698,521
1,198,557
97,815
1,994,893

9. Analysis of expenditure by activities

Residential
Domiciliary
Tenancy
Total 2022
Activities
undertaken
directly
2023
£
798,624
1,273,553
101,287
2,173,464
1,994,893
Support costs
2023
£
(34,193)
1,305
16,444
(16,444)
-
Total
funds
2023
£
764,431
1,274,858
117,731
2,157,020
1,994,893
Total
funds
2022
£
698,521
1,198,557
97,815
1,994,893

10. Auditor's remuneration

The auditor's remuneration amounts to an auditor fee of £7,310 ( 2022 - £7,020 ).

Page 21

(A Company Limited by Guarantee)

St Christopher's (Glossop) Limited

Notes to the Financial Statements for the year ended 31 March 2023

11. Staff costs

Wages and salaries
Social security costs
Other pension costs
2023
£
1,604,539
135,260
36,021
1,775,820
2022
£
1,520,628
121,385
32,520
1,674,533

The average number of persons employed by the Charity during the year was as follows:

2023 2022
No. No.
Employees 80 78
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
2023 2022
No. No.
In the band £60,001 - £70,000 1 1

Key management personnel are considered to be the Trustees of the Charity and the senior management team and they received remuneration of £170,106 ( 2022: £157,968 ).

Page 22

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2023

12.

Tangible fixed assets

Cost or valuation
At 1 April 2022
Additions
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
On disposals
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022
Freehold
property
£
1,802,785
-
-
1,802,785
377,065
80,660
-
457,725
1,345,060
1,425,720
Long-term
leasehold
property
£
1,081,997
-
-
1,081,997
242,247
6,059
-
248,306
833,691
839,750
Motor
vehicles
£
17,583
-
-
17,583
17,583
-
-
17,583
-
-
Fixtures and
fittings
£
163,292
27,994
(11,213)
180,073
157,640
9,058
(11,213)
155,485
24,588
5,652
Total
£
3,065,657
27,994
(11,213)
3,082,438
794,535
95,777
(11,213)
879,099
2,203,339
2,271,122

Included in freehold property is freehold land at cost of £44,254 ( 2022: £44,254 ), which is not depreciated.

13. Debtors

Trade debtors
Other debtors
Prepayments and accrued income
2023
£
81,997
40,710
16,332
139,039
2022
£
90,960
35,469
6,118
132,547

Page 23

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2023

14. Creditors: Amounts falling due within one year

Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
2023
£
33,771
28,956
61,726
123,577
39,788
287,818
2022
£
29,806
20,619
71,433
109,286
25,110
256,254

The bank loan is secured by means of a fixed and floating charge over the Charity's assets including 16 Hollincross Lane, 20 Hollincross Lane, 18 Hillside Close and 76 Green Lane, Glossop, Derbyshire.

Page 24

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2023

15. Creditors: Amounts falling due after more than one year

Bank loans
Included within the above are amounts falling due as follows:
Between one and two years
Bank loans
Between two and five years
Bank loans
Over five years
Bank loans
2023
£
94,446
2023
£
36,212
58,234
-
2022
£
372,774
2022
£
30,744
98,154
243,876

The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is:

2023 2022
£ £
Repayable by instalments 128,217 402,580

The bank loan is secured by means of a fixed and floating charge over the Charity's assets including 16 Hollincross Lane, 20 Hollincross Lane, 18 Hillside Close and 76 Green Lane, Glossop, Derbyshire.

16. Accruals and deferred income

Deferred income at 1 April 2022
Resources deferred during the year
Amounts released from previous periods
Deferred income at 31 March 2023
2023
£
2,690
12,188
(2,690)
12,188
2022
£
8,600
2,690
(8,600)
2,690

Deferred income relates to domiciliary income received in advance.

Page 25

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2023

17.
Statement of funds
Statement of funds - current year
General funds
General Funds - all funds
Statement of funds - prior year
Balance at
1 April 2021
£
General Funds - all funds
2,083,979
Restricted funds
Coronavirus Job Retention
Scheme
80,836
Adult Social Care Infection
Control
31,501
Staff Retainer
-
Rapid Testing Fund
3,550
Workforce Recruitment and
Retention Grant
-
Well Being Grant
-
Workforce Capacity Fund
2,557
118,444
Total of funds
2,202,423
Balance at 1
April 2022
£
2,387,477
Income
£
2,113,740
11,925
31,089
20,250
9,111
15,612
315
-
88,302
2,202,042
Income
£
2,271,381
Expenditure
£
(1,928,686)
(11,925)
(31,089)
(20,250)
(9,111)
(15,612)
(315)
-
(88,302)
(2,016,988)
Expenditure
£
(2,184,631)
Transfers
in/out
£
118,444
(80,836)
(31,501)
-
(3,550)
-
-
(2,557)
(118,444)
-
Balance at 31
March 2023
£
2,474,227
Balance at
31 March
2022
£
2,387,477
-
-
-
-
-
-
-
-
2,387,477

Page 26

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2023

17. Statement of funds (continued)

Restricted funds are funds that have been provided in support of specific projects. The Charity holds sufficient rersources to enable each fund to be applied in accordance with the restriction and can be itemised as follows:

Coronavirus Job Retention Scheme: government wage support measure as a result of the COVID-19 pandemic.

Adult Social Care Infection Control: specific government grant to support wages and salaries staff in community care settings who are isolating in line with the government guidance.

Staff Retainer: council staff retention bonus payment for rewarding and recognising staff members.

Rapid Testing Fund: specific government grant to support rapid testing in care homes.

Workforce Recruitment and Retention Grant: government grant for use specifically relating to workforce recruitment and retention.

Well Being Grant: specific government grant relating to promoting resident wellbeing.

Workforce Capacity Fund: specific government grant to support measures that deliver additional staff in capacity to address covid-related workforce supply issues.

18. Summary of funds

Summary of funds - current year

General funds
Summary of funds - prior year
General funds
Restricted funds
Balance at
1 April 2021
£
2,083,979
118,444
2,202,423
Balance at 1
April 2022
£
2,387,477
Income
£
2,113,740
88,302
2,202,042
Income
£
2,271,381
Expenditure
£
(1,928,686)
(88,302)
(2,016,988)
Expenditure
£
(2,184,631)
Transfers
in/out
£
118,444
(118,444)
-
Balance at 31
March 2023
£
2,474,227
Balance at
31 March
2022
£
2,387,477
-
2,387,477

Page 27

St Christopher's (Glossop) Limited (A Company Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2023

19. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total
Unrestricted
funds
2023
£
2,203,339
653,152
(287,818)
(94,446)
2,474,227
Total
funds
2023
£
2,203,339
653,152
(287,818)
(94,446)
2,474,227

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total
Unrestricted
funds
2022
£
2,271,122
745,383
(256,254)
(372,774)
2,387,477
Total
funds
2022
£
2,271,122
745,383
(256,254)
(372,774)
2,387,477

20. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Increase in debtors
Increase in creditors
Net cash provided by operating activities
2023
£
86,750
95,777
(6,492)
27,599
203,634
2022
£
185,054
92,337
(5,148)
5,095
277,338

Page 28

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2023

21. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents
2023
£
514,113
514,113
2022
£
612,836
612,836

22. Analysis of changes in net debt

Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year
At 1 April
2022
£
612,836
(29,806)
(372,774)
210,256
Cash flows
£
(98,723)
(3,965)
278,328
175,640
At 31 March
2023
£
514,113
(33,771)
(94,446)
385,896

23. Pension commitments

The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity from unrestricted funds to the pension fund and amounted to £36,021 ( 2022 - £32,520 ). Contributions totalling £13,731 ( 2022 - £5,922 ) were payable to the fund at the balance sheet date and are included in creditors.

24. Operating lease commitments

At 31 March 2023 the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years
2023
£
5,748
9,327
15,075
2022
£
5,748
14,430
20,178

Page 29

St Christopher's (Glossop) Limited

(A Company Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2023

25. Related party transactions

During the year, two trustees received reimbursement of mileage expenses of £1,305 ( 2022: £977 ). There were no other related party transactions.

Key management personnel remuneration can be found in note 11.

Page 30

Issuer HURST Accountants Document generated Fri, 20th Oct 2023 12:38:50 UTC Document fingerprint c5e8d2219e399cc22b18b3a004f0b73b

Parties involved with this document

Document processed

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Sat, 21st Oct 2023 11:55:08 UTC Mon, 23rd Oct 2023 8:55:46 UTC

Mr Anthony Wilkinson - Signer (e725b3d2a72d0c2477b28ee3f72bf6f2) Helen Besant Roberts - Signer (9c87bd604b53592948391138c5cfba1d)

Audit history log

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Helen Besant Roberts viewed the envelope. (85.255.237.62) This envelope has been signed by all parties (85.255.237.62) Helen Besant Roberts signed the envelope (85.255.237.62) Helen Besant Roberts viewed the envelope. (85.255.237.62) Helen Besant Roberts opened the document email. (85.255.237.62) Helen Besant Roberts opened the document email. (85.255.237.62) Helen Besant Roberts opened the document email. (20.117.38.11) Document emailed to hbr@hurst.co.uk (13.40.27.68) Mr Anthony Wilkinson viewed the envelope. (92.40.63.73) Sent the envelope to Helen Besant Roberts (hbr@hurst.co.uk) for signing (92.40.63.73) Mr Anthony Wilkinson signed the envelope (92.40.63.73) Mr Anthony Wilkinson viewed the envelope. (92.40.63.73) Document emailed to tonywilko35@gmail.com (18.135.100.200) Sent the envelope to Mr Anthony Wilkinson (tonywilko35@gmail.com) for signing (185.20.130.155) Helen Besant Roberts has been assigned to this envelope (185.20.130.155) Mr Anthony Wilkinson has been assigned to this envelope (185.20.130.155)

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3d266c8eea164a38d2781d36479dc1fc (185.20.130.155) Fri, 20th Oct 2023 12:38:50 UTC Envelope generated by Rebecca McLoughlin (185.20.130.155)