Faith House Eventide Home ort of the Trustees for the Year Ended 31 December 2023 The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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). OBJECTIVES AND ACTIVITIES Objectives and aims Faith House Eventide Home is a charity which provides residential and nursing accommodation for aged persons. The charity has a significant number of volunteers who assist in the organisation with regards lo many of the social aspects of the service it provides. The volunteers do not receive remuneration for their services. The long-temi strategy is to maintain, develop and expand the provision of the services already provided and to respond to the demand for the changing needs of the aged population. ACHIEVEMENT AND PERFORMANCE Charitable activities Faith House Eventide Home has fillfilled and identified the needs of the aged community by providing residential and nursing accommodation. The trustees seek to ensure that the day-to-day operation of the services provided are self-financing. Funds for the augmentation of the service, particularly capital expenditure is received by way of donations frotn churches, individuals, other trusts and legacies. FINANCIAL REVIEW Fin2n¢ial position During the financial year general outgoing funds was £169,793 (2022 outgoing - £155,719) incoming gifts and endowtnents was £137,888 (2022- £185,403). At the end of the financial year there was a total balance in reserves £3,170,416 of which £3,243,394 are restricted funds. Reserves policy The trustees aim to maintain free reserves in unrestricted fvnds at a level which equate5 to approximately six weeks of direct operational costs. The trustees consider that this level will provide sufficient funds to allow the provision of services to continue in th event that income is delayed for a period of time. The trustees consider that a level of six weeks is sufficient given that a large proportion of the charity's income 15 derived from public sources. Going concern The Trustees have considered going concern and are confident that the plan agreed with management will bring the business back into a profitable position during 2024. FUTURE PLANS The aim of the charity for the tUre is to maintain. develop and expand the existing services with a view to meeting the continuing and varying needs for such facilities, and to respond to the rising demand from the ever changing needs of the ageing population. It is for this reason that the Trustees are currently engaged in a phased programme of development to provide additional up to date facilities and to re-furbish the existing a¢¢ommodation. Page I
Faith House Eventide Home ort of the Tn]stees for the Year Ended 31 December 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Faith House Eventide Home is constituted under Deed of Trust and enjoys charitable status granted by HMRC and is registered with the Charity Commission (Nl), Charity Number NIC105713. Any decisions relating to the rnanagement of the charity are at the discretion of the executive committee under the guidance of the Trustees. The current trustees will appoint new trustees to the board when a vacancy on the board becomes available. The charities policies and procedures are contained in the Deed of Trust and the trustees are governed by these terrns. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 105713 Principal address 25 Orpen Park Belfast BTIO OBN Trustees B Ambrose - Chainnan F J N Brown - Secretary J M S Wishart A J Wilkinson A R Woodside S K Craig N Emerson L S McHugh S J Hamilton D J Radciffe J A Allen J Rogers (appointed 241212023) Auditor Mr ASC Wylie FCA Senior Statutory Auditor Xeinadin Audit Limited 8th Floor Becket House 36 Old Jewry London EC2R SDD STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Page 2
Faith House Eventide Home ort of the Trustees for the Year Ended 31 December 2023 STATEMENT OF TRUSTEES, RESPONSIBILITIES- continued The law applicable to charities in England and Wales, the Charities Act 2011. Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources. including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them Consistently. observe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards 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 charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by Order of the board of twstees on 27 September 2024 and signed on its behalf by: B Ambrose - Trustee Page 3