Registered number: 02416122 Charity number: 802108 This draft produced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) CONTENTS Page Reference and administrative details of the Company. its Trustees and advisers Trustees. report Independent auditors. report on the financial statements 8-10 Statement of financial activities Balance sheet 12-13 Statement of cash flows 14 Notes to the financial statements 15-31
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees J Nurse S Cowdy M Odell (deceased 29 June 2024) Dr. l Johnson Dr. K Hargin A J Newnham G S Hoyles (appointed 5 January 2024) J Bellinger (appointed 16 April 2025) Company registered number 02416122 Charity registered number 802108 Registered office Compton House Compton Road Lindfield West Sussex RH16 2JZ Company secretary J Nurse Registered manager Dr V Veljanoski Independent auditors Baldwin Scofield Ltd Chartered Accountants Statutory Auditors 3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU Bankers Barclays Bank PLC High Street Leicester LE87 2BB Page 1
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together with the audited financial statements of the Company for the year 1 January 2024 to 31 December 2024. The Annual report serves the purposes of both a Trustees, report and a directors. report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's goveming document and the provisions of the Statement of Recommended Practice ISORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the Company 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 • Policies and objectives The charity (and the company) was formed to maintain and operate one or more Christian residentiallnursing homes in Lindfield, West Sussex and the adjoining area, to care for the eldedy, ill, convalescent or infirm. The objectives of the charity are to meet the physical, emotional and spiritual needs of all the residents of the home(s) run by the charity, whether they be members of the Lindfield churches or the community al large, who are eldedy and in need of nursing care or residential accornmodation provided in a Christian environment and who have made it their home. In setting objectives and planning for activities. the Trustees have given due consideration to general guidan published by the Charity Commission relating to public benefit, including the guidance 'Public benefit- running a charity (PB2}'. Strategies for achieving objectives The key element of the chariws medium to long tem strategy is to maintain, through the activities of the company. one or more Christian nursing and residential homes that can deliver the provision of excellent care and facilities to meet the physical. emotional and spiritual needs of the residents. From a financial perspective, it is the intention of the Trustees to reinvest any surplus funds generated by the company in the upkeep, mainlenance and improvement of its facilities and quality of care and, where appropriate, to further develop the ServIS the charity can provide. Activities undertaken to achieve objectives The main activities currently undertaken by the charity, through the activities of the company, in order to meet these objectives are to run two homes in Lindfield, West Sussex. The first of these is the nursing home known as Compton House, which can accommodate up to 27 residents. The second of these is Little Compton, which has hitherto provided separate accommodation for independent living for up to 9 residents. but the Trustees are now actively planning to convert these facilities into additional nursing home accommodation by combining this with the nursing provision of Compton House to create a single, larger nursing home and thereby generate greater long-term financial resilience for the charity. Main activities undertaken to further the Company's purposes for the public benefit In order to support the charitable purposes. the charity currently sets aside a proportion of its annual income to meet cases of financial need. whether for existing residents or for new residents who may have a shortfall in funding source. whether it be provided from statutory bodies or from private means. It is also the intention of the Trustees to ensure Ihat the services provided by the charity are available for all relevant sections of the community (i.e. elderly persons) and to undertake appropriate promolion of the charity within the community to promote its services to prospective residents and beneficiaries. Page 2
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and performance Key financial perfonnance indicators The Trustees review the financial perf0rrnan of the company (and, hence, of the charity) in relation to an established budget for each financial year. The key financial performance indicators include Ihe overall net income of the company, the amount of fees payable by the residents, the amount of overall expenditure (including expenditure in support of the charitable purposes) and the cash resources of the company (taking inlo account the long-term loan arrangements in place with the bank). Review of activities The trustees are please to report that the year 2024 was a substantially better year than the previous year, both operationally and financially. Resident numbers in Compton House steadily increased throughout the year, so by the end of the year the home was effectively full, although Little Compton remained unoccupied throughout the year. This resulted in an overall surplus in the financial result for the year. with an operating profit, prior to the revaluationldepreciation of the freehold properties. of £62,505 (2023- deficit of £257,596). The company continued to make use of an overdraft facility with Barclays Bank throughout the year as well as continuing to repay its long-term loan arrangements with the bank in line with expectations. Trustees expect that the company will continue to rebuild its financial resilience during 2025 and will look to implement the development work in Little Compton as soon as its financial resources pemiil. The Registered Manager, Dr Vlado Veljanoski, continued to lead the management and staff and the Trustees are gratified to note that the homes continue lo be run in a highly professional and effeclive manner and with the Chrislian ethos of the homes still to the fore. The Trustees very much appreciate the dedication and professionalism shown by the managemenl and the whole staff leam. including the various volunteers, who between them provide care and support that helps ensure that the residents are not only physically safe and well cared for. but also have their emotional and spiritual needs met in a caring Christian environment. We have been very pleased to welcome Mr Stephen HOeS and Ms Julie Bellinger to the board as Trustees in January 2024 and April 2025 respectively. As highlighted in last yearfs report, we were deeply saddened to have to report the untimely death of one of our Truslees. Mike Odell, in June 2024 and we continue to hold his wife and family in our thoughts and prayers. In line with the valuation options permitted under FRS 102, the Trustees have opled to show an amount in the accounts in respect of Ihe company's main assets (being the freehold properties at 40 and 42 Compton Road, Lindfield) at deemed cost less depreciation. The value at 31 December 2024 is stated as being £1,891,059 12032 value: £1,937,183). Under FRS 102, the Trustees could instead have elected to adopt a market valuation method. While the Trustees consider that this altemative method would probably give a more appropriate value over the long term, it would require the Trustees to periodically use the financial resources of the charity to obtain external professional valuations, and the Trustees have taken the view that this would be an unnecessary and profligate use of charity funds and would not serve any useful purpose. Therefore. the valuation of the freehold properties as stated in these accounts is unlikely to represent a value that is considered to be at or close to their market value. Notwithslanding this, during 2023 the Trustees comrnissioned an independenl valuation of the freehold properties for financing purposes and were unsurprised that this valualion figure was substantially higher than the value stated in these accounts. Factors relevant to achieve objectives The Trustees believe that the charity, through the activities of the company, continues to operate successfully and in accordance with its objectives, and is able to generate sufficient cashflow to continue to Servi its debts and other obligations. The Trustees therefore consider that the charity is cUentlY operating on a sound and suslainable financial footing which provides the foundalion for a flourishing business and caring environment wilh which to meet its objectives, in line wilh both its legallregulatory requirements and with Christian principles. Page 3
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevements and performance (contlnued) Investment policy and perfomiance Where the company has any surplus funds, these are to be maintained in cash, short term deposits andlor other money market instruments which are not expected to contain risks to the capital. In considering where to invest any such surplus funds, the Trustees recognise the potential need to diversify where the company places its funds to effectively manage its operational and credit risks. Financial review Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational exislence 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. Reserves policy The Trustees ensure that the charity maintains sufficient cash reserves to cover all financial obligations as they fall due and at all times segregate funds to cover the refund of dient deposits. • Material investments policy The company has no malerial investments. The companws main assets are the freehold properties at 40 and 42 Compton Road, Lindfield, which are inextricably linked wilh the operational activities of the nursing home Compton House and the residential home Little Compton. • Financial risk management objectives and policies Throughout the period the Trustees and management continue to review the risks faced by the company which entails the review of the risk register and an assessment of the current controls in place for the most significant risks faced by the company. The Trustees consider that the prosseS adopted are in line with general risk managemenl industry standards, and specifically the recommendations made by Ihe Charity Commission as well as relevant guidan provided from time to time by Ihe Care Quality Commission and other statutory bodies. • Principal funding The company has in place an overdraft facility and one long-term loan arrangement with Barclays Bank plc, secured on the company s main assets (being the freehold properties at 40 and 42 Compton Road, Lindfield), as well as a CBILS loan effected in January 2021. The interest and capital on both Ihese loans are being repaid by monthly instalments from the operating cash resources generated by the company, with the tolal outstanding loan amount of £164.451 at 31 December 2024 (2023: £228,204). The CBILS loan is due lo be fully repaid by January 2027 with the balance on the other long-term loan arrangemenl due to be fully repaid by 2029. In 2023 the company arranged a small number of medium-temi loan arrangements with supporters of the charity, totalling £85,000. in order to help meet the short-term cash needs of the company while the lift in Compton House was being repaired, and intends to repay these loans aslwhen the cash resources of the company allow. Page 4
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, governance and management Constitution Lindfield Christian Care Home is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association dated 23 August 1989. • Methods of appointment or election of Trustees The management of the Company is the responsibility of the Trustees who a elected and co-opted under the terms of the Articles of Association. The Trustees are all individuals who act in a voluntary capacity as both directors of the company and trustees of the charity and are drawn from the membership of various local churches. A volunteer's DBS check is mandatory before any individual may take up a role as a trustee of the charity. • Organisational structure and decision-making policies The Trustees are responsible for setling the policy and strategic direction of the charity and for overseeing the management of the company to ensure that such policies and strategic direction are being adhered to. In order to help fulfil this responsibility, the Trustees receive regular reports on the financial and operational activities of the company and meet regularfy with the Registered Manager and other management. In addition, several of the trustees regularly visit and spend time with the residents, the staff and the volunteers in Ihe homes. On a day-to-day basis, the Registered Manager (Dr Vlado Veljanoski) leads a team of dedicated professionals, including nursing and other care staff, together with administration, catering and domestic staff. The Registered Manager is supported by a tearn of specialist managers. who are in daily contact with the staff, the residents and a large team of volunteer helpers. The Trustees have given the Registered Manager delegated responsibility for day-to-day managemenl decisions, within certain constrainls (including the agreed policies), and are pleased to note the appointment in March 2025 of Ms Emma Feriotlo as the new Nursing and Care Manager. Where issues arise outside the scope of these delegated responsibilities. such issues are referred to the Trustees for consideration and, if appropriate. for updating andlor setting new policies. • Policies adopted for the induction and training of Trustees New trustees are supplied with information published by the Charity Commission on the responsibilities and expectations of Ihose appointed to charity work. The latest accounts and statutory infomialion is provided to new trustees, and whatever interview time the new appointee requires with olher trustees or managers is made available. Page 5
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Plans for future perlods The current financial position and outlook means that the Trustees expect the company to continue to provide broadly its current range of servi$ and activities within Compton House over the foreseeable future. The Trustees are now actively planning to convert Little Compton into additional nursing home accommodation as and when the financial resources of the company are sufficient to undertake this development, and have appointed architects to support this work and help gain the necessary permissions. The Trustees consider that. by creating a single, larger nursing home, this will thereby generate greater long-term financial resilien for the charity. In the mediumllong tem, the Trustees consider that the current central Governmenl spending constraints and general economic uncertainties are likely to impact adversely upon the financial support provided to the elderly by the various relevant statutory bodies. The Trustees consider that this could adversely affect the scope and scale of services and activities that the company could provide. Most recently, this has been exacerbated by the significant increase in Etnployer National Insurance Contributions, which has significantly increased the company's cost base, especially when added to the rent large increases in the National Minimum Wage. For this reason, the Trustees are seeking to rebuild the financial and organisalional resilience of the company, primarily by budgeting for ongoing operational surpluses each year, looking to improve the usage of the company's property and other assets, keeping under review the companls long-lerni financing requiremenls and actively monitoring the likely regulatory and operational developments, in order to be able to respond appropriately and to continue to provide broadly its currenl range of serVIS and activities over the mediuml long term. Statement of Trustees. responsibilities The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees. report and the financial stalernents 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 salisfied that Ihey give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP (FRS 102); make judgments and accounting estimates that are reasonable and prudent., stste whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 6
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Disclosure of Infom)atlon to audltors Each of the persons who are Trustees at the time when this Trustees, report is approved has confirmed that: so far as that Trustee is aware, there is no relevant audit infomiation of which the charitys auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitys auditors are aware of that information. Auditors The auditors, Baldwin Scofield Ltd, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees. Approved by order of the members of the board of Trustees on 29 July 2025 and signed on their behalf by.. Dr. l Johnson Page 7
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF LINDFIELD CHRISTIAN CARE HOME Opinion We have audited the financial statements of Lindfield Christian Care Home (the 'charitable company,) for the year ended 31 December 2024 which comprise the Statetnent of financial aclivities, 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 Praclicel. In our opinion the financial statements- give a true and fair view of the state of the charitable companys affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordan with the requirements of the Charities Act 2011. 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 Auditors, 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 perfonned. we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable companys ability to continue as a going concem for a period of at least e1ve 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. Page 8
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF LINDFIELD CHRISTIAN CARE HOME (CONTINUED) Other information The other infomiation comprises the infomiation included in the Annual report other than the financial statements and our Auditors. report thereon. The Trustees are responsible for the other infomiation 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 Ihereon. 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 knovAedge 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 infomiation, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if. in our opinion: the information given in the Trustees. report is inconsislent in any material respect with the financial statements" or sufficient accounting records have not been kept. or the financial statements are not in agreement with the accounting records and retums,. or we have not received all the infomiation and explanations we require for our audit. 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 neSSary 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
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF LINDFIELD CHRISTIAN CARE HOME (CONTINUED) Auditors. responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 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 Auditors, report thal includes our opinion. Reasonable assurance is a high level of assuran. 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 siatements. 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 prOdureS are capable of detecting irregularities, including fraud is detailed below- Our procedures are designed in the context of the charity, its operations and the overall nature of the govemance of the organisation both in terms of structure and the individuals involved and we have determined that these are of high integrity. We have made enquiries of management and of those iasked with governance as to whether they are aware of actual or potential litigation or claims arising from irregularities or fraud. we have reviewed entries made in the accounting records IT) order to detect irregularities including fraud. These procedures, in addition to our analytical review and tesling during the audit, have enabled us to conclude that our procedures are capable of detecling irregularities induding fraud. 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.o .uklauditorsres onsibilities. This descriplion forms part of our Auditors, report. Use of our report This report is made solely to the charitable CoMpanS trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reporls) Regulalions 2008. Our audit work has been undertaken so that we might stale to the charitsble companys trustees those matters we are required to state to them in an Auditors, report and for no other purpose. To the fullest extent permitted by law, we do nol acpt or assume responsibility lo anyone other than the charitable company and its members, as a body, for our audit work, for Ihis report, or for the opinions we have formed. Baldwin Scofield Ltd Chartered Accountants Statutory Auditors 3 Newhouse Business Centre Old Crawley Road Horsham West Sussex RH12 4RU 29 July 2025 Baldwin Scofield Ltd are eligible to act as auditors in temis of section 1212 of the Companies Act 2006. Page 10
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitsble activities 8.918 2,059,956 987 8.918 2,059,956 987 2, 920 1,604,485 544 Investments Other income 3,577 Total income 2,069,861 2,069,861 1,617,526 Expenditure on: Charitsble activities 1,042 2,052,438 2,053,480 1,915,246 Total expenditure 1,042 2,052,438 2,053,480 1,915,246 Net movement in funds (1,042 17,423 16,381 (303, 720) Reconciliation of funds: Total funds brought forward Net movement in funds 2,084 (1,042) 1,598.505 17,423 1,600,589 16,381 1,904,309 (303, 720) Total funds carrled forward 1,042 1,615,928 1,616,970 1, 600,589 The Statement of financial activities indudes all gains and losses recognised in the year. The notes on pages 15 lo 31 form part of these financial statements. Page11
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) REGISTERED NUMBER: 02416122 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Fixed assets Tangible assets Current assets 12 2,035.566 2,111,071 Stocks 13 1,000 53,794 53,113 1,000 30,271 53,330 Debtors 14 Cash at bank and in hand 107,907 84,601 Creditors- amounts falling due within one year 15 (344.102) (346, 149) Net current liabilities (236,195) (261,548) Total assets less current liabilities 1,799.371 1,849,523 Creditors.. amounts falling due after more than one year 16 {182,401} (248, 934) Total net assets 1,616,970 1, 600, 589 Charity funds Restricted funds 18 1,042 1,615.928 2,084 1,598,505 Unrestricted funds 18 Total funds 1,616.970 1, 600,589 The entity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. However, an audit is required in accordance with section 144 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complwng with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. Page 12
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) REGISTERED NUMBER: 02416122 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 The financial statements were approved and authorised for issue by the Trustees on 29 July 2025 and signed on their behalf by.. Dr. l Johnson The notes on pages 15 to 31 fom part of these financial statements. Page13
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash flows from operating activities Net cash used in operating activities 84,829 (31,347) Cash flows from investing activities Purchase of tangible fixed assets (16.598) (91,441) Net cash used in investing activities (16,598) {91,441) Cash flows from financing activities Cash inflows from new borrowing Repayments of borrowing 85,000 (63,872) (63.833) Net cash (used in)Iprovided by financing activities (63,833) 21,128 Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 4.398 (101,660) 127,208 25,548 Cash and cash equivalents at the end of the year 29,946 25,548 The notes on pages 15 to 31 form part of these financial statements Page 14
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General infomiation The company is constituted under a Memorandum of Association dated 23 August 1989 and is a registered charity. number 802108. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 1021 Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Lindfield Christian Care Home 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 Income All income is recognised once the Company has entitlement to the income, it is probable that the income will be reiVed and the amount of income receivable can be measured reliably. The recognition of income from any legacies is dependenl on establishing entitlement, the probability of receipl and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existen of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will nol be required to satisfy claims in the eslate. Receipt of a legacy must be recognised when it is probable that il will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured. Grants are induded in the Statement of financial activities on a receivable basis. The balance of income reiVed for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is reiVed in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Other income is recognised in the period in which it is re1vable and to the extent the goods have been provided or on completion of the service. Page15
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (continued) 2.3 Expenditure Expenditure is recognised On there is a legal or constructive obligation to transfer economic benefit to a third party. it is probable that a transfer of economic benefils will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The cosls of each activity are made up of the total of direct costs and shared costs, including support cosls 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 aclivity 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 deprecialion charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Companws objectives, as well as any associated supporl costs. All expenditure is inclusive of IeCoVerable VAT. 2.4 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company- this is normally upon notificalion of the interest paid or payable by the institution with whom the funds are deposited. 2.5 Tangible fixed assets and depreciation Tangible fixed assets costing £1.000 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 accumulaled 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. Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the slraighl-line method. Depreciation is provided on the following bases- Freehold property Plant and machinery Fixtures and fittings 20/0 Straight line (Nil prior to 2016) 20V/o Straight line 12.5QA straight line 2.6 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.7 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amounl prepaid net of any trade discounts due. Page 16
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (continued) 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 Ihe 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 atnount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payTnents 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 p-taX discount rate that reflects the risks spectfic to the liability. The unwinding of the discount is recognised in the Statement of financial activilies as a finance cost. 2.10 Financial instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest Method. 2.11 Pensions The Company operates a defined contribulion pension scheme and the pension charge represents the amounts payable by the Company lo the fund in respect of the year. 2.12 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company 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 Company for parlicular 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 lo the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page 17
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from grants. donations and legacies Unrestricted funds 2024 Total funds 2024 Donations Legacies 3,918 5,000 3,918 5,000 8,918 8,918 Unrestricted funds 2023 Total funds 2023 Donations 2,920 2, 920 Income from charitable activities Unrestricted funds 2024 Total funds 2024 Income from charitable activities 2,059,956 2.059,956 Unrestricted funds 2023 Total funds 2023 Income from charitable activities 1,604,485 1, 604,485 Investment income Unrestricted funds 2024 Total funds 2024 Investment income- local cash 987 987 Page 18
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Investment income (continued) Unrestricted funds 2023 Total fvnds 2023 Investment income- local cash 544 544 Other incoming resources Tolal funds 2024 Other incoming resources Unrestricted funds 2023 Total funds 2023 Other incoming resources 3,577 3,577 Analysis of expenditure on charitable activities Summary by fund type Restricted Unrestricted funds funds 2024 2024 Total 2024 Direct costs - Charitable activities Direct costs - Governance 1,961,377 91,061 1.961,377 92,103 1,042 1,042 2,052,438 2,053,480 Page 19
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expenditure on charitable activities (continued) Summary by fund type (continued) Restricted Unrestricted funds funds 2023 2023 Total 2023 Direct costs - Charitable activities 1,821,946 92,258 1,821,946 93,300 Direct costs - Governance 1,042 1,042 1,914,204 1,915,246 Analysis of expenditure by activities Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Direct costs - Charitable activities Direct costs - Governan 1.702,137 92,103 259,240 1,961,377 92,103 1,794,240 259,240 2.053,480 Activities undertaken directly 2023 Support costs 2023 Total fvnds 2023 Direct costs - Charitable activities 1,586,316 93,300 235, 630 1,821,946 93,300 Direct costs - Govemance 1,679,616 235, 630 1,915,246 Page 20
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expenditure by activities (continued) Analysis of direct costs Care Home Activity Governance 2024 2024 Total funds 2024 Staff costs 1.415,631 1.415,631 92,103 131,967 11,481 70,337 44,319 10,245 18,157 Depreciation Consumables Cleaning Premises costs Equipment Legal & professional fees Training and other staff costs 92,103 131,967 11,481 70,337 44,319 10,245 18,157 1,702,137 92,103 1,794,240 Care Home Activity Governance 2023 2023 Total fvnds 2023 Staff costs Depreciation Consumables 1.300,559 1,300,559 93,300 120,106 12,122 67,311 38,217 33,429 14,572 93,300 120, 106 12,122 67,311 38.217 33,429 14.572 Cleaning Premises costs Equipment Legal & professional fees Training and other staff costs 1,586,316 93,300 1,679,616 Page 21
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expenditure by activities (continued) Analysis of support costs Support Activity 2024 Total funds 2024 Staff costs 104,243 12,289 5,778 6,338 13,719 692 104,243 12,289 5,778 6,338 13,719 692 Professional subscriptions Consultancy fees Telephone, stationery and postage Office costs Bank charges Charitable contributions 97,897 13,880 4,404 97,897 13,880 4,404 Interest Audit fee 259,240 259,240 Support Activity 2023 Total funds 2023 Staff costs Professional subscriptions Consultancy fees Telephone. stationery and postage offi costs Bank charges Charitable contributions 100,821 11,424 4,713 5,279 11,502 325 100,821 11,424 4, 713 5,279 11,502 325 63,426 34,090 4,050 63,426 34,090 4,050 Interest Audit fee 235, 630 235, 630 Page 22
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Auditors. remuneration The auditors, remuneration amounts to an auditor fee of £3,500 (2023 - £3, 100), and preparation of the statutory accounts of £1,000 (2023- £950). 10. Staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined contribution pension schemes 1,377,714 116,083 26,077 1,266,403 109,513 25,464 1,519,874 1,401,380 The average number of persons employed by the Company during the year was as follows: 2024 2023 No. 68 67 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. 2024 No. 2023 No. In the band £60.001- £70.000 11. Trustees. remuneration and expenses During the year. no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 December 2024, expenses tolalling £34 were reimbursed or paid directly to 1 Trustee (2023 - £13 to 1 Trustee). Page 23
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. Tangible fixed assets Freehold property Plant and Fixtures and machinery fittings Tolal Cost or valuation At 1 January 2024 Additions 2,306,175 391.235 11.196 379,153 5,402 3,076,563 16,598 At 31 December 2024 2.306,175 402.431 384,555 3,093,161 Depreciation At 1 January 2024 Charge for the year 368.992 46,124 310.208 26.304 286,292 19,675 965,492 92,103 At 31 December 2024 415,116 336.512 305,967 1.057,595 Net book value At 31 December 2024 1,891,059 65,919 78,588 2,035,566 At 31 December 2023 1,937, 183 81,027 92,861 2,111,071 The charity's property at 40 and 42 Compton Road. Lindfield, West Sussex, RH16 2JZ are provided as security for the loans that have been taken out by the charity as more fully disclosed in note 16. 13. Stocks 2024 2023 Finished goods and goods for resale 1,000 1,000 14. Debtors 2024 2023 Trade debtors Other debtors Prepayments and accrued income 50,996 2,594 204 27,296 1,915 1,060 53,794 30,271 Page 24
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 15. Creditors: Amounts falling due within one year 2024 2023 Bank overdraft and credit card repayable on demand Bank loans Trade creditors Other taxation and social security Other creditors 23,167 67,050 20,952 30,083 123,771 79,079 27, 782 64,350 18,096 31,057 109, 707 95,157 Accruals and deferred income 344,102 346, 149 The current portion of the mortgage loan as disclosed above is secured as more fully documented in note 16 below. 16. Creditors: Amounts falling due after more than one year 2024 2023 Bank loans 97,401 85,000 163, 934 85,000 Other loans 182,401 248, 934 Included within the above are amounts falling due as follows: 2024 2023 Between one and two years Bank loans 67,597 68,587 Between two and five years Bank loans 29,804 86, 745 Over five years Bank loans Other loans 8, 602 85,000 85,000 Page 25
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is- 2024 2023 Payable or repayable by instalments 8, 602 8, 602 The mortgage loans amounting to £49.804 (2023 £58,602) are secured on the companvs main assets being the freehold properties at 40 and 42 Compton Road. Lindfield, West Sussex, RH16 2JZ. The mortgage taken out in 2019 has an outstanding amount of £49,804, bears interest at 2.150/0 above base rate and is due to be repaid by 2029. The charity has borrowed £275,000 under the govemment backed CBILS loan arrangements introduced to deal with the impact of the Covid-19 pandemic, of which £114,647 is outstanding at the year end {2023= £169,682). The CBILS loan bears interest at a rate of 2.990/0 above Bank of England base rate and the loan is repayable in 60 instalments commencing 7 February 2022. being repaid by 2027. 17. Financial instruments 2024 2023 Financial assets Financial assets measured at fair value through income and expenditure 53,113 53,330 Financial assets measured at fair value through income and expenditure comprise bank balances. Page 26
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Statement of funds Statement of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Income Expenditure Unrestricted funds Designated funds Revaluation fund 281,542 1,220,130 (46,124) (44,937) 235,418 1.175,193 Fixed asset fund 1,501,672 (91.061) 1.410,611 General funds General fund 96,833 2,069.861 (1,961,377) 205,317 Total Unrestricted funds 1,598,505 2,069,861 {2,052,438) 1.615,928 Restricted funds Restricted fund - Gift for home 2,084 {1.042) 1,042 Total of funds 1,600,589 2,069,861 {2,053,480) 1.616,970 Page 27
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Statement of funds (continued) Statement of funds - prior year Balance at 31 December 2023 Balance at 1 January 2023 Income Expenditure Unrestricted funds Designated funds Revaluation fund 327,666 1,266,264 (46, 124) (46, 134) 281,542 1,220, 130 Fixed asset fund 1,593,930 (92,258) 1,501,672 General funds General fund 307.253 1,611,526 (1,821,946) 96, 833 Total Unrestricted funds 1,901,183 1,611,526 (1,914,204) 1,598,505 Restricted funds Restricted fund - Gift for home 3,126 (1,042) 2,084 Total of funds 1,904,309 1,611,526 (1,915,246) 1, 600, 589 Page 28
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 19. Summary of funds Summary of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Income Expenditure Designated funds General funds 1,501,672 96,833 2,084 (91,061) (1,961,377) (1,042) 1.410,611 205,317 1,042 2,069.861 Restricted funds 1,600,589 2,069,861 {2,053,480) 1,616,970 Summary of funds - prior year Balance at 31 December 2023 Balance at 1 January 2023 Income Expenditure Designated funds General funds Restricted funds 1,593,930 307.253 3,126 (92,258) 1,671,526 (1,821,946) (1,042) 1,501,672 96, 833 2,084 1,904,309 1,611,526 (1,915,246) 1, 600,589 20. Analysis of net assets between funds Analysis of net assets between funds - current period Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 1.042 2,034,524 2.035,566 107,907 107,907 (344,102) (344,102) (182,401) (182,401) Total 1,042 1,615,928 1.616,970 Page 29
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 20. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior period Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets 2,084 2, 108,987 2,111,071 84,601 84,601 (346, 149) (346, 149) (248,934) (248, 934) Creditors due within one year Creditors due in more than one year Total 2,084 1,598,505 1, 600,589 21. Reconciliation of net movement in funds to net cash flow from operating activities 2024 2023 Net incomelexpenditure for the period (as per Statement of Financial Activities) 16,381 (303, 720) Adjustments for: Depreciation charges Decrease/(increase) in debtors Increasel(decrease) in creditors 92,103 (23.523) (132) 93,300 94, 744 84,329 Net cash provided byl(used in) operating activities 84,829 (31,347) 22. Analysis of cash and cash equivalents 2024 2023 Cash in hand Bank overdraft repayable on demand Credit card repayable on demand 53,113 (15,872) {7,295) 53,330 (25,805) (1,977) Total cash and cash equivalents 29,946 25,548 Page 30
his draft roduced on 291412025 16:57 LINDFIELD CHRISTIAN CARE HOME (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 23. Analysis of changes in net debt At31 December 2024 January 2024 Cash flows Cash at bank and in hand Bank overdraft and credit cards repayable on demand Debt due within 1 year Debt due after 1 year 53.330 (27,782) (64,350) {248.934) (217) 4,615 (2.700) 66,533 53,113 {23,167) (67,050) (182,401) {287.736) 68,231 (219,505) 24. 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 to the fund and amounted to £26,077 (2023 £25,464) Nil were payable to the fund at the balan sheet date and are included in creditors. 25. Related party transactions From time to time trustees may enter into transactions with the charity. For example, trustees have in the past had relatives who have either worked in the home or been resident within the home, and in either event these would be on nornial operational terms and be disclosed in the financial statements. No such transactions took pla during the year. Page 31