Faith House Eventide Home Statement of Financial Activities for the Year Ended 31 December 2023 2023 Total fijnds 2022 Total funds Unrestricted Restricted fund funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 137,888 137,888 185.403 Operating Income Investment income Other income 2,670,668 408 25,623 2,670,668 408 25,623 2,369,035 76 92,755 Total 2.696,699 137,888 2,834.587 2,647,269 EXPENDITURE ON Raising funds other trading activities 280,089 280,089 266,837 280,089 280,089 266,837 Charitable activities Support costs Governance cost 2,520,534 65,869 2,520,534 65.869 2,261,409 89,339 Total 2,866,492 2,866,492 2,617,585 NET INCOMEI(EXPENDITURE) (169,793) 137,888 (31,905) 29,684 RECONCILIATION OF FUNDS Total funds brought forward 96.815 3,105,506 3,202,321 3.172.637 TOTAL FUNDS CARRIED FORWARD {72,978) 3,243,394 3,170,416 3,202,321 The notes form part of these financial statements Page 7
Faith House Eventide Home Balance Sheet 31 December 2023 2023 Total funds 2022 Total funds Unrestricted Restricted fund nds Notes FIXED ASSETS Tangible assets 133,319 3,243,394 3,376.713 3,372,026 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 12 13 7,880 176,691 8.552 7,880 176.691 8,552 7,370 112,286 62,092 193,123 193,123 181,748 CREDITORS Amounts falling due within one year 14 (297,594) (297,594) (216,756) NET CURRENT ASSETS (104,471) (104,471) (35.008) TOTAL ASSETS LESS CURRENT LIABILITIES 28,848 3,243,394 3,272,242 3,337,018 CREDITORS Amounts falling due after more than one year 15 (101.826) (101,826) (134.697) NET ASSETS (72,978) 3,243,394 3,170,416 3,202,321 FUNDS Unrestricted funds: General fund Restricted funds: Restricted ndS 17 {72,978) 96,815 3,243,394 3,105,506 TOTAL FUNDS 3,170,416 3,202,321 The financial statetnents were approved by the Board of Trustees and authorised for issue on 27 September 2024 and were signed on its behalf by: F J N Brown- Trustee The notes fonn part of these financial statements Page 8
Faith House Eventide Home Notes to the Financial Statements for the Year Ended 31 December 2023 ACCOUNTING POLICIES Basis of preparing the finaneial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 201 l. The financial statements have been prepared under the historical cost convention. Financial reporting standard 102- reduced disclosure exemptions The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as perniitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,: the requirements of Section 7 Statement of Cash Flows. the requirement of paragraph 3.17(d)' the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and I1.48(c)' the requirements of paragraphs 12.26, 12.27. 12.29{a), 12.29(b) and 12.29A. the requireTnent of paragraph 33.7. the requirement of paragraph 24{b) of IFRS 6. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of econornic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure 15 accounted for on an accruals basis and has been Classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basi5 consistent with the use of resources. Tangible fixed assets Furniture & Equipment Office Fllmiture & Equipment Computers & HE Tech Equipment Household Equipment Outdoor Equipment 20 % pa Straight Line 20 /0 pa Straight Line 33.330/0 pa Straight Line 33.33 % pa Reducing Balance 33.330/0 pa Reducing Balance Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Taxation The charity is exempt from tax on its charitable activities. Page 9 continued...
Faith House Eventide Home Notes to the Financial Statements - continued for the Year Ended 31 December 2023 ACCOUNTING POLICIES- continued Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees Restricted funds can only be used for particular restricted purposes within the objects of the Trust Deed.charity Restrictions arise when specified by the donor or when fund5 are raised for particular restricted purposes. Further explanation of the nature and purpose of each fimd is included in the notes to the financial statements. Pension costs and other post-retirement benefits The charity operdtes a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Siatement of Financial Activities in the period to which they relate. DONATIONS AND LEGACIES 2023 2022 Gift aid Legacies Trusts Gift5 1,200 88,516 26.500 21,672 9,200 27.989 119,000 29,214 137,888 185,403 OPERATING INCOME 2023 2022 Residental Income Nursing Care 1,061,864 1,608.804 940.778 1,428,257 2.670.668 2,369,035 Page 10 continued...
Faith House Eventide Home Notes to the Financial Statements - continued for the Year Ended 31 December 2023 INVESTMENT INCOME 2023 2022 Bank interest received 408 76 OTHER TRADING ACTIVITIES 2023 2022 Meals & provisions Nursing and supplies Household expenses Welfare 144.969 80,347 44,626 10,147 134,039 78,565 44,492 9,741 280.089 266,837 CHARIT ABLE ACTIVITIES COSTS Support costs (see note 7) Support costs Governance cost 2,520.534 65,869 2,586,403 SUPPORT COSTS Governance costs Management Other Tota15 Support costs Governance cost 2,475,638 11,846 44,896 2,520,534 65,869 54,023 2,487,484 54.023 44,896 2,586,403 Pagell continued...
Faith House Eventide Horne Notes to the Financial Statements - continued for the Year Ended 31 December 2023 SUPPORT COSTS- continued Support costs, included in the above, are as follows: Management 2023 Total activities 2022 Total activities Support costs Govemance cost Wages Staff development expense5 Pensions Repairs & maintenance Rates and water Insurance Light and heat Bank interest 2,143,141 20.716 37,817 63,130 14,051 23,853 172.930 2,143,141 20.716 37,817 63,130 14,051 23,853 172,930 11,846 1.904.403 15,461 34,370 66,508 10,290 21,223 157,288 13,538 11,846 2,475,638 11,846 2,487,484 2,223,081 Finance 2023 Total activities 2022 Total activities Bad debt 9,013 Other 2023 Governance cost 2022 Total activities Depreciation of tangible fixed assets 54.023 75,801 Governance costs 2023 Support costs 2022 Total activities Office,phone,post,stat Travel Professional fees Accountancy 26,604 922 9,172 8,198 26,813 339 8,687 7.014 44,896 42.853 Page 12 continued...
Faith House Eventide Home Notes to the Financial Statements - continued for the Year Ended 31 December 2023 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees, expenses There were no trustees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. STAFF COSTS 2023 2022 Wage5 and salaries Social security costs Other pension costs 2,143.141 20,716 37,817 1,904,403 15,461 34,370 2.201,674 1,954,234 The average monthly number of employees during the year was as follows: 2023 59 22 54 2022 27 13 22 Nursing Staff Residential Staff Other Staff 135 62 No employees received emoluments in excess of £60,000. 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 185.403 185,403 Operating Income Investment income Other income 2,369,035 76 92,755 2,369,035 76 92,755 Total 2,461,866 185,403 2.647,269 EXPENDITURE ON Raising funds Other trading activities 266.837 266,837 266,837 266.837 Page 13 continued...
Faith House Eventide Home Notes to the Financial Statements - continued for the Year Ended 31 December 2023 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted Restricted Total fund funds funds Charitable activities Support costs Govemance cost 2,261,409 89,339 2,261,409 89,339 Total 2,617,585 2,617,585 NET INCOME/(EXPENDITURE} (155,719) 185,403 29,684 RECONCILIATION OF FUNDS Total funds brought forward 252.534 2,920,103 3,172,637 TOTAL FUNDS CARRIED FORWARD 96,815 3,105,506 3,202,321 11. TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Plant and machinery Totals COST At l January 2023 Additions 3,253.389 42,938 187,303 4,656 729.093 11,116 4,169,785 58,710 At 31 December 2023 3,296,327 191,959 740.209 4,228,495 DEPRECIATION At l January 2023 Charge for year 172,600 8,529 625,159 45,494 797,759 54,023 At 31 December 2023 181,129 670,653 851,782 NET BOOK VALUE At 31 December 2023 3,296,327 10,830 69,556 3,376,713 At 31 December 2022 3,253,389 14,703 103.934 3,372,026 Page 14 continued...
Faith House Eventide Home Notes to the Financial Statements - continued for the Year Ended 31 December 2023 12. STOCKS 2023 2022 Stocks 7,880 7,370 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtors Other debtors PpayMentS and aCced income 101,034 66,092 9.565 65,606 46,680 176,691 112,286 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Bank loans and overdrafts (see note 16) Trade creditors Other creditors 73,453 65.828 158,313 30,983 40,993 144.780 297,594 216.756 15. CREDITORS: AMOUNTS FALLING DUE AER MORE THAN ONE YEAR 2023 2022 Bank loans (see note 16) 101,826 134,697 16. LOANS An analysis of the maturity of loans is given below: 2023 2022 Amounts falling due within one year on demand.. Bank overdrafts Bank loans 40.581 32,872 30,983 73,453 30,983 Amounts falling between one and two years: Bank loans- 1-2 years 63.854 63,854 Amounts falling due between two and five years: Bank loans - 2-5 years 37,972 70,843 Page 15 continued...
Faith House Eventide Home Notes to the Financial Statements - continued for the Year Ended 31 December 2023 17. MOVEMENT IN FUNDS RESTRICTED INCOME Incoming Resources At 31 Dec 2023 At l Jan 2023 Assemblies Individuals Legacies Residents Gift Aid Trusts 557,140 694,295 1,215,871 34,879 63,619 539,700 13,585 5,834 88,516 2,253 1,200 26,500 570,725 700,129 1,304.387 37,132 64,819 566,200 Total Gifts & Endowments 3,105.504 137,888 3,243,392 18. RELATED PARTY DISCLOSURES During the financial year there was related party transactions between Faith House and Bethshean Lodge Limited. 19. TRADING INCOME AND EXPENDITURE ACCOUNT Note 2023 2022 Residential & Nursing Other Income Grants Total Expenditure 2,670,668 25,623 2,369,035 92,755 (2,866,492) (2,617.585) Operating Surplusl(Deficit) (170,201) (155.795) Bank Interest 408 76 Net Surplus/(deficit) (169.793) (155,719) Reconciliation of Net Income Net Incorne - statement of financial activities Less: Donations and gift (restricted income) {31,905) 29,684 (137,888) (185,403} 17 Net Surplus/(deficit) (169,793) (155.719) Page 16
Faith House Eventide Home Detailed Statement of Financial Activities for the Year Ended 31 December 2023 2023 2022 INCOME AND ENDOWMENTS Donations and legacies Gift aid Legacies Trusts Gifts 1,200 88.516 26,500 21,672 9,200 27,989 119.000 29,214 137,888 185,403 Operating Income Residental Incorne Nursing Care 1,061,864 1,608,804 940,778 1,428,257 2,670,668 2,369,035 Investment in¢offle Bank interest received 408 76 Other income Grant Income 25,623 92,755 Total incoming resources 2,834,587 2,647,269 EXPENDITURE Other trading activities Meals & provisions Nursing and supplies Household expenses Welfare 144,969 80.347 44,626 10,147 134,039 78,565 44.492 9,741 280,089 266,837 Support costs Management Wages Staff development expenses Pensions Repairs & maintenance Rates and water Insurance Carried forward 2,143,141 20,716 37,817 63.130 14,051 23,853 2,302,708 1,904,403 15,461 34.370 66,508 10.290 21,223 2,052,255 This page does not fonn part of the statutory financial statements Page 17
Faith House Eventide Home Detailed Statement of Financial Activities for the Yeai- Ended 31 December 2023 2023 2022 Management Brought forward Light and heat Bank interest 2,302,708 172,930 11,846 2,052,255 157.288 13,538 2,487,484 2,223,081 Finance Bad debt 9,013 Other Plant and machinery Fixtures and fittings 8,529 45,494 8,638 67,163 54.023 75,801 Governance costs Office,phone,post,stat Travel Professional fees Accountancy 26,604 922 9,172 8,198 26,813 339 8.687 7,014 44,896 42,853 Total resources expended 2,866,492 2,617,585 Net (expenditure)lincome (31,905) 29,684 This page does not form part of the statutory financial statements Page 18