Registered number:
Charity number:
(A Company Limited by Guarantee)
for the year ended
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Contents
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Reference and Administrative Details of the Charity, its Trustees and Advisers
for the year ended 31 March 2024
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Trustees' Report
for the year ended 31 March 2024
The Trustees (who are also directors of the Charity for the purposes of the Companies Act) present their annual report together with the audited financial statements for the year 1 April 2023 to 31 March 2024, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011 (as amended by the Charities Act 2022), the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The Trustees who served during the reporting period were: Mr Anthony Wilkinson (Chairman) Mrs Christine Lobley Mrs Joan Roebuck Ms Carol Reeds Mr Donald Hague (appointed 25 October 2023) Mrs Janet Huin (appointed 25 October 2023) Mr Roger Huin (appointed 25 October 2023)
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The charitable objectives in the Memorandum and Articles for which the Charity is established are:
To provide care and support for adults with disabilities and the elderly for the public benefit and to provide social housing and housing support.
b. Strategies for achieving objectives
c. Activities undertaken to achieve objectives
d. Main activities undertaken to further the Charity's purposes for the public benefit
The Trustees confirm that they have complied with the duty under Section 4 of the Charities Act 2011 (as amended by the Charities Act 2022) to have due regard to the Charity Commission's guidance on public benefit. Although the Charity is a fee charging charity, no person is excluded from its services based on their financial situation, as the local authority is liable for the care cost and not the individual. The Charity provides specialist care for older adults with disabilities who would otherwise be given a bed in a standard care home for the elderly, which would be unable to meet their needs.
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Achievements and performance
a. Review of activities
The charity's plans for the year were to:
∙continue looking for new clients to fill voids in the care home and houses;
∙promote its services;
∙build on the success of last year’s fundraising events to both to raise funds and improve the trusts profile;
∙grow its social activities for its current clients and people in the local community with learning disabilities;
∙continue applying for grants to contribute to both social activities and for purchases within the care home;
∙focus on gaining new trustees for the charity.
The trust did not gain any new clients in the year so this is something that will be a focus for the coming year. The trust undertook several small fundraising activities during the year such as coffee mornings, raffles, car boots sales and craft stalls. The charity continued its social activities for clients in the community, holding a weekly coffee morning with activities and entertainment on Tuesdays and a social and craft group every other Thursday. It has applied for funding to provide these sessions weekly rather than monthly. We also held a Halloween party and a Christmas party for its clients. The trust has started applying for grants to help towards the costs of social activities and also for purchases within the care home. We were successful in a grant application to cover the costs of new bath chairs for use within the care home.
b. Investment policy and performance
The Charity has approximately £2.5m of assets, most of which relate to properties used for charitable activities. In addition, it holds cash reserves to cover planned and unplanned expenditure. The Charity wishes to balance the needs of current and future beneficiaries.
The Trustees of the Charity are governed by the Trustee Act 2000 which sets out the general power of investment. Investment objectives The Charity seeks to produce the best financial return within an acceptable level of risk. The investment objective for the short-term reserves is to preserve the capital value with a minimum level of risk. Assets should be readily available to meet unanticipated cash flow requirements. Risk The Charity holds assets to fund planned expenditure over the next three years. As such, capital volatility cannot be tolerated, and assets should be invested to minimise risk. The Charity's short-term assets are held in cash or near cash investments denominated in sterling. Liquidity requirements To allow for unexpected events, the Trustees wish to maintain at least 3 month’s worth of running costs in cash or lower risk liquid investments. Time horizon The Charity has divided its reserves into those expected to be held long term and those that may be needed in the short term. Management reporting and monitoring The Charity manages its own cash deposits and has nominated a list of authorised signatories, two of whom are required to sign instructions to the deposit-taking institution. The Finance Executive monitors the cash position and prospective cash flow schedule and reports this to the Board of Trustees at each monthly meeting.
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Achievements and performance (continued)
Approval and Review
The investment policy was prepared by the Finance Executive of the Charity to provide a framework for the management of its assets. It will be reviewed on an annual basis to ensure continuing appropriateness.
Financial review
a. Going concern
b. Financial review
Total income has increased by £232,597, which is an increase of 10%. The income from charitable activities has increased by £231,853, which is a 10% increase on last year’s figures. This increase is due to an increase in the charity's residential and domiciliary fee rates in the year. The charity received one grant in the year for £6,200, which was for the purchase of two new bath chairs in the care home . Expenditure also increased during the year with an increase in expenditure on charitable activities of £247,213 compared with last year, which is an increase of 11%. The main source of the increased expenditure was staff costs, with the increase in the minimum wage pushing up staff hourly rates. The trust also noticed an increase in most of its expenses during the year, with inflation pushing up the costs of purchasing goods and services. The trust's balance sheet is showing a strong position at the end of 2024. With current assets, net current assets and total assets all increasing during the year.
c. Principal risks and uncertainties
The risk matrix covers financial, governance and operational risks in particular, and it has controls in place to minimise all known risks. The main risks facing the charity are the lack of new business coming into the charity and the financial constraints placed on the local authority’s social care budget.
d. Reserves policy
The Trustees have set a free reserves policy of maintaining free reserves to provide working capital equivalent of three months' running costs for residential care, management, and governance. At present, this amounts to £547,000. The Trustees think this is a prudent approach in view of the Charity’s dedication to its beneficiaries. The Trust didn’t meet its reserves target at the year-end but it did increase its reserves significantly from the previous years figures. The trust plans to continue to increase its free reserves until it meets its reserves target.
Total reserves at the year-end were £2,546,361 (2023: £2,474,227), including reserves locked up in fixed assets totalling £2,151,039 (2023: £2,203,339), and restricted funds of £4,214 (2023: £Nil). This leaves free reserves of £391,108 (2023: £270,888)
Structure, governance and management
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Structure, governance and management (continued)
a. Constitution
The Charity is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 18/03/1958.
The Charity is a registered charity number 0527036, company number 0600800. The registered office is Redcourt, Hollincross Lane, Glossop, Derbyshire, SK13 8JH.
b. Methods of appointment or election of Trustees
c. Policies adopted for the induction and training of Trustees
d. Organisational structure and decision making
Council members act as Trustees and have the powers and obligations of company directors under the Companies Act 2006. No Trustee is entitled to or paid any remuneration, although they are entitled to reclaim expenses. During the year, two Trustees reclaimed travel expenses totalling £1,121 (2023: £1,305). The Charity also purchased insurance to protect it from any loss which might arise from neglect or any default of its senior staff or Trustees and to indemnify the Trustees against the consequences of loss or default on their part.
e. Related party relationships
f. Risk management
The Board has an established arrangement for the systematic assessment and periodic review of the risks facing the organisation, with appropriate measures being taken to prioritise, manage and minimise risks identified. In particular, it has considered financial, governance and operational risks and controls are in place to minimise all known risks.
Future developments
The trust wants to build on the success of last year’s fundraising events and has several events planned for the coming year. This is an area we want to focus on, both to raise funds and improve the trusts profile. The trust also wants to grow its social activities for its current clients and people in the local community with learning disabilities. If we are successful in our grant applications, then this is an area which could see significant growth in the coming years. The trust wants to continue applying for grants to contribute to both social activities and for purchases within the care home.
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Statement of Trustees' responsibilities
Disclosure of information to auditor
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 information of which the charity's auditor is 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 charity's auditor is aware of that information.
Auditor
The auditor, Hurst Accountants Limited, has indicate their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditor at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by:
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Independent Auditor's Report to the Members of St Christopher's (Glossop) Limited
We have audited the financial statements of St Christopher's (Glossop) Limited (the 'charity') for the year ended
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Independent Auditor's Report to the Members of St Christopher's (Glossop) Limited (continued)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
∙the Trustees' Report has been prepared in accordance with applicable legal requirements.
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from 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 Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.
As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Independent Auditor's Report to the Members of St Christopher's (Glossop) Limited (continued)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Identifying and assessing potential risks related to irregularities
In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
∙The nature of the industry and sector in which the company operates; the control environment and business performance including key drivers for directors' remuneration, bonus levels and performance targets.
∙The outcome of enquiries of local management and parent company management, including whether management was aware of any instances of non-compliance with laws and regulations, and whether management had knowledge of any actual, suspected, or alleged fraud.
∙Supporting documentation relating to the Company's policies and procedures for:
°Identifying, evaluating, and complying with laws and regulations
°Detecting and responding to the risks of fraud
∙The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
∙The outcome of discussions amongst the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
∙The legal and regulatory framework in which the Company operates, particularly those laws and regulations which have a direct effect on the financial statements, such as the Companies Act 2006, Charities SORP, Charities Act 2011 (as amended by the Charities Act 2022), Charity Commission, pensions and tax legislation, or which had a fundamental effect on the operations of the Company, including General Data Protection requirements, Anti-bribery and Corruption, and Coronavirus Job Retention Scheme.
Audit response to risks identified Our procedures to respond to the risks identified included the following:
∙Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the provisions of those relevant laws and regulations which have a direct effect on the financial statements.
∙Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud.
∙Enquiring of management about any actual and potential litigation and claims.
Performing analytical procedures to identify any unusual or unexpected relationships which may indicate risks of material misstatement due to fraud.
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Independent Auditor's Report to the Members of St Christopher's (Glossop) Limited (continued)
We have also considered the risk of fraud through management override of controls by:
∙Testing the appropriateness of journal entries and other adjustments. We have used data analytics software to identify accounting transactions which may pose a heightened risk of material misstatement, whether due to fraud or error.
∙Challenging assumptions made by management in their significant accounting estimates, and assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and
∙Evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of them. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants & Statutory Auditors
3 Stockport Exchange
Stockport
Cheshire
SK1 3GG
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Statement of financial activities (incorporating income and expenditure account)
for the year ended 31 March 2024
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Registered number: 0600800
Balance Sheet
as at 31 March 2024
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Statement of Cash Flows
for the year ended 31 March 2024
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
for the year ended 31 March 2024
St Christopher's (Glossop) Limited is a charity limited by guarantee, incorporated in the United Kingdom. The registered office of the charity is Redcourt, Hollincross Lane, Glossop, Derbyshire, SK13 8JH.
The principal activity of the charity is to provide residential care and support, supported tenancies and domiciliary care and support for adults with learning disabilities.
2.Accounting policies
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
Residential
Residential income is recognised on a monthly basis for each resident in occupancy in a given month. Alternations arising from rate increases are taken into account when they occur. Domiciliary Domiciliary income is recognised on a contractual basis, based on the number of chargeable hours at a predetermined hourly rate. Alternations arising from rate increases are taken into account when they occur. Tenancy Tenancy income is recognised on a time apportioned basis over the length of the tenancy agreements.
Grants
Grants are credited to the Statement of Financial Activities as the related expenditure is incurred.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
for the year ended 31 March 2024
2.Accounting policies (continued)
Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
for the year ended 31 March 2024
2.Accounting policies (continued)
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
for the year ended 31 March 2024
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Critical areas of judgement:
Depreciation
The charity exercises judgement in estimating the useful economic life its fixed assets. The Charity recognised depreciation during the year of £104,053 (2023: £95,777).
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
for the year ended 31 March 2024
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
for the year ended 31 March 2024
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
for the year ended 31 March 2024
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
for the year ended 31 March 2024
11.Staff costs (continued)
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
for the year ended 31 March 2024
The bank loan is secured by means of a fixed and floating charge over the Charity's assets including 16 Hollincross Lane, 20 Hollincross Lane, 18 Hillside Close and 76 Green Lane, Glossop, Derbyshire.
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
for the year ended 31 March 2024
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
for the year ended 31 March 2024
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
for the year ended 31 March 2024
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
for the year ended 31 March 2024
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity from unrestricted funds to the pension fund and amounted to £40,635 (2023: £36,021). Contributions totalling £10,684 (2023: £13,731) were payable to the fund at the balance sheet date and are included in creditors.
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St Christopher's (Glossop) Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements
for the year ended 31 March 2024
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