Charity Commission No. NIC100692 HMRC Charity Registration No. XT13338 Company Registration No. N1068710 (Northèrn Ireland) SOMME NURSING HOME HOLDINGS (A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
SOMME NURSING HOME HOLDINGS CONTENTS Page Legal and administrative information Trustees, report Independent auditors report stalemenl of financial activities Balance sheet Statement of cash flows 10 Notes to the financial statements
SOMME NURSING HOME HOLDINGS LEGALAND ADMINISTRATIVE INFORMATION Trustees Mr E R Telford Mr S J L Phillips Mrs E A Robinson Mr P Baillie Mrs N Connery Secretary Mrw S G Cassells Charity Number NIC100692 Company nuTnber N1068710 Principal address 121 Circular Road Belfast BT4 2NA Registered office 4th Floor Donegall House 7 Donegall Square North Belfast BT15GB Auditor Moore IN.[.) LLP 4th Floor Donegall House 7 Donegall Square North Belfast BT15GB Bankers Ulster Bank Limited Unit 2, Arches Retail Park Belfast BT5 4AF Solicitors King and Gowdy Solicitors 298 Upper Newtownards Road Belfast BT4 3EJ
SOMME NURSING HOME HOLDINGS DIRECTORS. REPORT (INCLUDING TRUSTEES. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees who are also directors for the purpose of the Charities Act (Nl) 2008, present their annual report and financial statements for the year ended 31 March 2025. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memor3ndum and Articles of Association. Ihe Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in ac¢ordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" (as amended for accounting periods commencing from 1 January 201 s) Objectives and activities The charity exists to support the aims of the goveming document- the 1944 Trust as amended by the High Court in 2002. It provides financial assistance to the Somme Nursing Home lo enable it to meet its obligations lo the beneficiaries of the 1944 Trust by the provision of nursing setvices in the context of a rogistered Nursing Home. The objectives for which the charity is established are the provision of grants and other funding to the Somme Nursing Home and to 8ny other individuals, organisalions and companies as so agreed by the Board of Trustees. The charity continues to hold investments in order to hold su1Clent reserves to support the Somme Nursing Home. The charily also owns the propety in which the Home is situated. It insures this buildlng and carries out rouline Maintenan and repairs as required as landlord. The charity also owns a property~ Mountbatien Lodge which is let to a third party on commercial terms. The lease was renegotiated in late 2022, early 2023. As p2rt of its registtion process with the Nl Charily Commission the charity has been permitted lo acquire all of the remaining assets owned by the 1944 Trust. The charity has aligned its obj8Ctives with those of the 1944 Trust and as a consequtsnce the 1944 Trust as a separate entity has ceased to exist. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and performance Somme Nursing Home Holdings main investment portfolio continues to make up the main reserves of the Charity and provides a mix of growth as well as a small income each year lo support Somme Nursing Home. A separate £1 Ook was invested in a Liquidity Fund to get income retum providing an income yield of 4.50/0 per annum. During the year the Trustees carried out a number of significant projects to upgrade the infr8Struclure of the Home. These included the inslallalion of a new air-condilioning system in the kitchen, the redesign and installation of a new flat-roof, incorporating new skylights and the replacement of the mains electrical switchgear. The roundabout to the front of the Home was also resurfaced. Other significant works are planned for 2025126. Financial review The main sources of income for the Holding Company remain unchanged. The lease on Mountbatten Lodge was reviewed in 2022123 at an annual rent of £62,000. The Holding company also has a notional lease in place with the Nursing Home which is balanced by an annual reduction in the leasehold asset held in the balance sheet. The company maintains an investment porttolio with Ralhbone5. This is a balanced portfolio, between income and capital growth, with a medium risk approach. The portfolio remained fairly static during the year reflecting the overall movement in the markets. The closing valuation was £1,669,937. The Iruslees recognise the financial difficulties of operaling in the care sector and the desire to maintain the highest standard of care to the residents of the Home. The Iruslees do expect the Home to operate on at least a break-even b2sis but appreciate that support will be needed from time to time. The directors, main objective remains to have reserves in place to fund capital projects and futuro growth. In this period the Trustees have expended over £200,000 on refurbishment and repairs to safeguard and enhance the building and faGilities.
SOMME NURSING HOME HOLDINGS DIRECTORS, REPORT (INCLUDING TRUSTEES, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The directors remain committed lo maintain sufficient free reseNes which will be adequate lo maintain the company's estate and to enable it to support ils beneficiaries in the event of a demand for resources. The trustees consider both the company's estate and the requirements of key beneficiaries on an ongoing basis, and are satisfied that the current level of free reserves is adequate. Risk Management The Iruslees have conducted a revtew of the major risks to which the Company is exposed. These risks are considered regularly by the trustees, and they have developed systems to monitor and control these risks in order lo millgale any impact that they could have on the ¢ompany. Procedures are in place lo ensure compliance with health and safely of the nursing horne staff and residents. Structure, governance and management Somme Nursing Home Holdings is a company limited by guarantee, not having a share capital. It is registered in Northern Ireland (registration number.. Nl 068710) and has obtained charitable status with The Charity Commission for Northem Ireland (reference number.. NIC1006921, and also with HM Revenue & Customs (reference number.. XT 13338).11 is governed by ils Memorandum and Attcles of Association Mr E R Telford Mr S J L Phillips Mr R Liddell Mrs E A Robinson Mr P Baillie Mrs N Connery (Resigned 1110312025) {Appointed 1010612025) TrusteelDirectors are appointed by invitation and ¢urrenlly comprise individuals with direct experience to the activities of the charity. As with the Nursing Home the aim is lo have trustees who have the skills and expertise to support the activities of the charity. In the event of the company being wound up and a shortfall ensuing. the members are required to contribute an amount not exceeding one pound. Trustees are briefed by the Chairman and Executive Director on appointment. Each has access to a comprehensive pack of documents containing the essential legal and regulatory informalion to guide and inform them on their duties. No staff are paid by the charity though the charity does pay the Somme Nursing Home a management charge lo meet ils share of the expense of the Company SetsretarylExecutive Director who provides services to both charities. This is paid quarterly and the amount is reviewed annually. The Board operates as detailed in the goveming document of the ¢harity, ils Memorandum and Articles of Association. The financial business and affairs of the charily are conducted and managed by the Board of Trustees. The exe¢ulive management, in charge of the day lo day operations, report to the b08rd and any sub Commillees on a monthly basis. Somme Nursing Home. a company incorporated in Northern Ireland is idenlrfied as a relaled party by nature of sharing common directors.
SOMME NURSING HOME HOLDINGS DIRECTORS. REPORT (INCLUDING TRUSTEES, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 Statement of trustees, responsibilities The directors, who also act as trustees for the charitable activities, are responsible for preparing the Directors, Report and the accounts in accordance with 2ppli¢able law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practice). Company Law required the directors to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charitable company and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that year. The directors, who also act as trustees for the charitable activities, are resptsnsible for prepartng the Directors, Report and the accounts in accordance with applicable law and United Kingdom Accounting St8ndards (United Kingdom Generally Accepted Accounting Practice). Comp8ny L8w required the directors to prep8re accounts for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the ¢haritable Company for that year. In preparing these accounts. the trustees are required to: select suitable accounting policies and then apply them consistently. obseNe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudenl., stale whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the acGounts- and prepare the accounts on the going concern basis unless il is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accur2cy at any lime the financial position of the ¢harilable company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the 2ssets 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 trustees has confirmed that there is no information of which they are aware which is relevant lo the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. The trustees, report was approved by the Board of Trustees. Mr E R Telford Dated- 10 December 2025
SOMME NURSING HOME HOLDINGS INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SOMME NURSING HOME HOLDINGS Opinion We have audited the financial statements of Somme Nursing Home Holdings (the 'charity'l for the year ended 31 March 2025 which comprise the statement of finanG4al activities, the balance sheet, the statement of cash flows and notes to the financial statements, including 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 Ihe UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the fnancial statements.. give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended. have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. 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 fynanGial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant lo our audit of the financial slalemenls in the UK, including the FRC'S Ethi¢al Standard, and we have fulfilled our other ethical responsibilities in attordance 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 Iruslees, use of the going concern basis of accounting in the preparation of the financial st8lemenls is appropriate. Based on the work we have performed, we have not identified any materlal uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least bNelve months from when the financial slalements are authorised for issue. Our responsibilities and the responsibilities of Ihe trustees with respect to going concern are desGribed in the relevant sections of this report. other information The other information comprises the information included in the annual report other Ihan the financial statements and our auditovs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial slalements does not cover the other information and, except to the extent otherwise explicitly slated 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 slalements or our knowledge obtained in the course of the audit, or otherwise appears lo 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 misslalement in the financial stateménts themselves. If, based on the work we have perfomied. we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing lo report in this regard. Opinions on other matters prescribed bythe Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the Iruslees, report, which includes the directors, report prepared for the purposes of company law, for the financial year for whiGh the financial slalements are prepared is consistent with the rinancial statements., and the directors, report included wlthin the Iruslees, report has been prepared in accordance with applicable legal requirements.
SOMME NURSING HOME HOLDINGS INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE MEMBERS OF SOMME NURSING HOME HOLDINGS Matters on which we are required to report by exception In the light of the knowledge and understanding of the Gharity aT)d its environment obtained the course of the audit, we have not identified m8teri21 misstatements in the directors, report included within the trustees, report. We have nothir)g to report in respect of the following mallers in relation lo which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received Irom branches not visited by us,. or the financial statements are not in agreement with the accounting records and returns- or certain disclosures of trustees, remuneration specified by law are not made- or we have not received all the information and explanations we require for our audit. or the Irustees were not entitled to prepare the financi85 statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the truslees, report and from the requirement lo prepare a strategic report. Responsibilities of trustees As explained more fully in the statement of trustees, responsibilities, the trustees, who are also the directors of the charity for the purpose 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 lo fraud or error. In preparing the financial stalemenls, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as appli¢ablÈ, matters related to going concem and using the going concern basis of accounting unless the trustees either intend lo liquidate the charity or to cease operations, or have no realistic alternative bul lo do so. Auditor's responsibilities for the audit of the financial statements Our obje¢lives are to obtain reasonable assurance about whether the financial statements as a whole are free from material missl8lement. 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 a¢¢ordance with ISAS IUKI will always detect a material misstatement when it exists. Misslalements Gan arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influenGe the economic decisions of users taken on the basis of these financial statements. The extent lo which our procedures are capable of delecling irregularities, including fraud, is detailed below. Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud The objectives of our audit in respect of fraud, are,. lo identify and assess the risks of material misstatement of the financial statements due to fraud. to obtain sufficient appropriate audit evidence regarding the assessed risks of material misst8tement due to fraud, through designing and implementing appropriate responses to those assessed risks- and lo respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charity, Our approach was as follows.. We obtained an understanding of the legal and regulatory requirements applicable to the charity and considered that the most significant are the Companies Act 2006, the Charities Act 2011, the Charity SORP, and UK financial reporting standards as issued by the Financial Reporting Council We obtained an understanding of how the charity complies with these requirements by discussions wtth management 3nd those charged with governance. We asssssed the risk of material misslalement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with govemance.
SOMME NURSING HOME HOLDINGS INDEPENDENT AUDITOR'S REPORT (CONTINUED} TO THE MEMBERS OF SOMME NURSING HOME HOLDINGS As part of an audit in accordance with ISAS (UK} we exercise professional judgement and maintain professional scepticism throughout the audit. We also= Identify and assess the risks of material misstatement of the financial statèments, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion. forgery, intentional omissions, misrepresentstions, or the override of intemal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charivs internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees. use of the going concem basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the chartty's ability to continue as a going concem. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause thè charity to cease to continue as a going concem. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures. and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiències in internal control that we identify during our audit. A further description of our responsibilities is available on the Financial Reporting Council's website at- httPS-11 www.frc.org.uklauditorsresponsibilities. 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 2 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 stste to them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assumè responsibilty to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Ig Fx4JJk Dr R I Peters Gallagher OBE FCA {Senior Statutory Auditor) for and on behalf of Moore (N.I.) LLP 11 December 2025 Chartered Accountants ststutory Auditor 4th Floor Donegall House 7 Donegall Square North Belfast BT1 5GB
SOMME NURSING HOME HOLDINGS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Unrestricted funds funds 2025 2024 Notes Income from: Rental and lease income Investments 162,000 57.297 162.000 59,126 Total incorne 219,297 221,126 Ex enditure on: Ch8ritable activities 374,001 215.037 Net Ilossesllgains on investments 10 17,277 57,697 Net movement in funds (137,4271 63,786 Fund balances 8t 1 April 2024 2.514.691 2,450,905 Fund balances at 31 March 2025 2,377,264 2,514,691 The statement of fin8ncial activities includes all gains and losses recognised in the year. ASI income and expenditure derive from continuing activities. The statement of financial activities also Complies wilh the requirements for an income and expenditure account under the Companies Act 2006.
SOMME NURSING HOME HOLDINGS BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets Investment5 12 13 1,546.720 1,669,937 1,672,601 1,671,164 3,216,657 3,343,765 Current assets Debtors Cash at bank and in hand 14 4,268 73,569 5,558 177.624 77.837 183,182 Creditors: amounts falling due within one year 15 {17,230} 112,256) Net current assets 60.607 170,926 Total assets less current liabilities 3,277,264 3,514,691 Creditors: amounts falling due after more than one year 16 (900,0001 11,000,000) Net assets 2.377,264 2,514,691 The funds of the charity Unrestricted funds 17 2.377,264 2.514.691 2,377,264 2,514,691 These financial slalements have been prepared in accordan with the provisions applicable to companies subject lo the small companies regime. The financial statements were approved by the trustees on 10 December 2025 Mr E R Telfor Company registration number N1068710 (Northern Ireland)
SOMME NURSING HOME HOLDINGS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activities Cash {absorbed byllgenerated from operations 20 {179,856} 16,445 Investing activities Return on Gapital Purch8se of investments Proceeds on disposal of investments Investment income received 242 1160,382) 178,644 57,297 {249,1881 165,398 59,126 Net cash generated fromllused in) investing activities 75,801 {24,664) Net ¢ash used in financing activities Net decrease in cash and cash equivalents {104.0551 (8,219) Cash and cash equivalents al beginning of year 177,624 185,843 Cash and cash equivalents at end of year 73,569 177.624 10-
SOMME NURSING HOME HOLDINGS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity information Somme Nursing Home Holdings is a private company limiled by guarantee incorporated in Northem Ireland. The registered office is 4th Floor Donegall House, 7 Donegall Square North, Belfast, BT15GB. 1.1 Accounting convention The accounts have been prepared in accordance with the charity's governing document. the Companies Act 2006 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 1021.12$ amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling. which is the fvnctional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 1.2 Going concern Al the lime of approving the financial slalements, the Iruslees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Iruslees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 CharitablÈ funds Unrestricted funds are available for use al the discretion of the trustees in furtherance of their charitsble objectives. 1.4 Incoming resources All incoming resoUrS are included in the Statement of Financial Activilies when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Investment income is included when receivable. Rental income is included on an accruals basis in line with the rental lease agreement net of trade discounts. 1.5 Resources expended .Expenditure is recognised on an accruals basis as a liability is incurred. Funding provided through conlr2¢tual agreements and perfomiance related grants is recognised as goods or services are supplied. Other grant payments are recognised when a constructive obligation arises that results in the payment being unavoidable. Costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Govemance costs include those incurred in the governance of ils assets and are primarily associated with constitutional and slatulory requirement 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their resldual values over their useful lives on the following bases- Freehold buildings Land 40/0 Straight line 11
SOMME NURSING HOME HOLDINGS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A¢Gounting policies (Continued) 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction prioe excluding trans8clion costs. and are subsequently measured al fair value at each reporting date. Changes in fair value are recognised in net incomellexpendilure) for the year. Transaction costs are expensed as incurred. 1.8 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indicalion Ihat those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine Ihe extent of the impairment loss (if any). Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impaim)ent annually. 8nd whenever there is an indication that the asset may be impaired. 1.9 Cash and ¢ash equivalents Cash and cash equiv81enls include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financi21 Instruments, and Section 12 'oiher Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of the inslrumenL Financial assets and liabilitie5 are offset, with the net amounts presented in the financial slatemenls, when there is a legally enforceable right lo set off the recognised amounts and there is an intention lo sellle on a nel basis or to realise the asset and settle the li2bility simultaneously. Basic financial assets Basic financial assets. which include debtors and cash and bank balances, 8re initially measured at transaction pri¢e including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement conslilutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amorbsed. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instnjment is measured at the present value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are Classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially at transaction price and subsequentIy measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 12-
SOMME NURSING HOME HOLDINGS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required lo make judgements, estimates and assumptions about the caryng amount of assets and liabilities that are not readily apparent from other sources. The estimales and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Rental and lease income 2025 2024 Lease released Rent receivable 100,000 62,000 100.000 62,000 Investments 2025 2024 Dividends received Interest receivable 55,991 1.306 57,658 1,468 57,297 59,126 Charitable activities 2025 2024 Depreciation Donations Insurance Repairs and maintenance Management fees Sundry Management charge 125,881 4,480 4,967 216,363 8,647 1,743 10,000 166,291 1,212 7,762 8,800 9,765 5,173 10,000 372,081 209.003 Share of governance costs (see note 6) 1,920 6,034 374,001 215,037 13-
SOMME NURSING HOME HOLDINGS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs Support Governance costs costs 2025 Support Governance costs costs 2024 Audit fees Legal and professional 1,920 1,920 1,800 4,234 1,800 4,234 1,920 1,920 6,034 6,034 Analysed between Charitable activities 1,920 1,920 6,034 6.034 Governance costs includes payments to the auditors of £1,920 {2024- £1,800) for audit fees. Net movement in funds 2025 2024 The net movement in funds is stated after chargingl(crediting): Fees payable for the audit of the charity's financial statements Depreciation of owned langible fixed assets 1,920 125,881 1,800 166,291 Trustees None of the trustees lor any persons connected with them) received any remuneration, benefits or expenses from the charity during Ihe year. Employees The average monthly number of employees during the year was- 2025 Number 2024 Number Total There were no employees whose annual remuneration was more than £60,000. 10 Net gains on investments 2025 2024 Revaluation of listed investments Gainl{loss) on sale of listed inveslments 10,596 6,681 28,884 28,813 17,277 57,697 14-
SOMME NURSING HOME HOLDINGS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Taxation The char¥ty is exempt from taxation on its activities because all its income is applied for charitable purposes. 12 Tangible fixed assets Freehold buildings Cost At 1 April 2024 5,089,246 At 31 MarGh 2025 5,089,246 Depreciation and impainnent At 1 April 2024 Depreciation charged in the year 3,416,645 125,881 At 31 March 2025 3,542,526 Carrying aTnount At 31 March 2025 1.546,720 At 31 March 2024 1,672,601 13 Fixed asset investments Listed investments Cost or valuation At 1 April 2024 Additions at cost Net gains on investments Return on capital Disposals at market value 1,671,164 160,382 10,596 1242) {171,963) At 31 March 2025 1,669,937 Carrying amount Al 31 March 2025 1,669,937 At 31 M8r¢h 2024 1,671,164 15-
SOMME NURSING HOME HOLDINGS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Debtors 2025 2024 Amounts falling due within one year: Other debtors Prepayments and accrued income 4,082 186 5,259 299 4,268 5,558 15 Creditors: amounts falling due within one year 2025 2024 Other creditors Accruals 15,279 1,951 10,425 1,831 17,230 12,256 16 Creditors: amounts falling due after more than one year 2025 2024 Notes Deferred income 900.000 1,000,000 17 Unrestricted funds The unrestricted funds of the charity Comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At1 April 2024 Incoming resources Resources expended Gains and At 31 March losses 2025 General funds 2,514,691 219,297 (374,001} 17,277 2,377,264 Previous year: At 1 April 2023 Incoming resources Resources expended Gains and At 31 March losses 2024 Gener81 funds 2.450,905 221,126 1215,037) 57,697 2,514,691 18 Related party transactions Transactions with related parties 16-
SOMME NURSING HOME HOLDINGS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18 Related party transactions {Continued) The company maintains an intercompany balance with Somme Nursing Home, a company incorporated in Northem Ireland and sharing common directors. At the balance sheet dale the balance due to Somme Nursing Home amounted to £15,279 {2024 - £10,425) and is included in creditors. During the year a donation of£Nil (2024- £Nill was paid to Somme Nursing Home from Somme Nursing Home Holdings. 19 Freehold land and buildings held by trustees Freehold land and buildings are beneficially owned by Somme Nursing Home Holdings, with the lille held by the Trustees of Somme Nursing Home. 20 Cash generated from operations 2025 2024 (Deficitllsurpus for the year {137,427) 63.786 Adjustments for-. Investment income recognised in statement of financial activities Gain on disposal of investments Fair value gains and losses on investments Depreciation and impairment of tangible fixed assets (57.297) (6.681) 110,596) 125,881 {59,1261 {28,8131 {28,8841 166,291 Movements in working c8pilal: Decrease in debtors Increase in creditors {Decrease} in deferred income 1,290 4,974 (100,0001 3.089 102 (100,000} Cash (absorbed by)Igenerated from operations 1179,856} 16,445 21 Analysis of changes in net funds The charity had no material debt during the year. 17-