Charity registration number 1021086
Company registration number 02756650 (England and Wales)
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr GM Black
Dr W Cunningham
Ms MA Gordon
Ms B Groves
Ms ME A Jones
Ms JE Lightley
Ms L Woodcock
Ms EJ Hastings
(Appointed 15 June 2023)
Mr D Ainslie
(Appointed 15 June 2023)
Ms J Iley
(Appointed 15 June 2023)
Secretary
Ms EJ Hastings
(Appointed 1 April 2024)
Mr N Braithwaite
(Resigned 1 April 2024)
Charity number
1021086
Company number
02756650
Registered office
Charlotte Straker House
Cookson Close
Corbridge
Northumberland
NE45 5HB
Auditor
Sumer Auditco Limited
Unit 2
Gosforth Park Avenue
Newcastle upon Tyne
NE12 8EG
Bankers
CAF Bank Limited
25 Kings Hill Avenue
West Malling
Kent
ME19 4JQ
Lloyds Bank Plc
1 Legg Street
Chelmsford
Essex
CM1 1JS
Solicitors
Sintons LLP
The Cube
Barrack Road
Newcastle upon Tyne
NE4 6DB
Investment advisors
Brewin Dolphin
Time Central
Gallowgate
Newcastle Upon Tyne
NE1 4SR
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Trustees' report
1 - 15
Independent auditor's report
16 - 18
Statement of financial activities
19 - 20
Balance sheet
21
Statement of cash flows
22
Notes to the financial statements
23 - 40
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The trustees of The Charlotte Straker Project, who are also directors of The Charlotte Straker Project (CSP) for the purposes of the Companies Act 2006 and are referred to in this report as "the Trustees", present their report with the financial statements of the CSP for the year ended 31 March 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charity’s: Statement of Recommended Practice applicable to charity’s preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

 

We are delighted to present the Annual Report for The Charlotte Straker Project, a not-for-profit care home dedicated to providing exceptional care and support to the elderly members of our community. This report serves as a testament to our unwavering commitment to improving the lives of those in need, and it highlights the tremendous achievements and milestones we have reached over the past year.

 

At The Charlotte Straker Project, we firmly believe that every individual deserves to be treated with dignity, compassion, and respect, regardless of their age or circumstances. Since our establishment we have remained steadfast in our mission to enhance the quality of life for our residents, ensuring they receive the highest standard of care in a nurturing and homely environment.

 

Due to ongoing financial constraints and continued recovery following the pandemic we agreed to keep our free of charge community respite care bed closed and utilise the room for funded long term care during 2023/24. We are pleased to report that we will be announcing the reopening of this bed in 2024/25. Like many charities, we have experienced challenges with general fundraising and you will see in the report strategies we have taken to improve this, but as a business we have remained cautious to ensure robust recovery.

 

We have continued to support our residents by prioritising their mental, physical, and emotional well-being, expanding the activities programme and encouraging increased interactions. Our varied programme included daily coffee mornings, therapeutic massage, exercise classes, crafting activities and visits from therapy animals, plus trips to the theatre, seaside, concert halls, fishing lakes, garden centres, museums and local farms. The residents loved the visits, with the highlight being riding in the beach buggies down at Tynemouth followed by fresh fish and chips.

 

Our dedicated staff have undergone continuous training and professional development to ensure they are equipped with the skills and knowledge necessary to provide the highest standard of care to our residents. It is positive to see how the training schedule has increased, suggestions put forward from staff are included and the team have continued to bring training in house where appropriate.

 

Over the course of the past year, our dedicated staff team and volunteers have worked tirelessly to create an atmosphere of warmth, safety, and companionship within our care home. Through their unwavering dedication and selfless efforts, we have been able to impact positively the lives of our residents and their families, fostering a sense of community and belonging.

 

None of these accomplishments would have been possible without the steadfast support of our community. We extend our deepest gratitude to our donors, volunteers, local businesses, and partnering organizations for their invaluable contributions and commitment to our cause. Their generosity has played a pivotal role in enabling us to make a profound and lasting difference in the lives of those we serve.

 

As we look ahead, we remain resolute in our vision of being a beacon of excellence in elderly care. Our commitment to continuous improvement, innovation, and personalized support will guide us in enhancing our services and meeting the evolving needs of our residents. We will continue to engage with staff, residents and families to ensure we identify where changes are required and continue to improve the experience for all involved with Charlotte Straker Project.

 

Thank you for your unwavering support, trust, and dedication to The Charlotte Straker Project. Your belief in our mission certainly drives our determination to serve with excellence and compassion.

 

 

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
OBJECTIVES AND STRATEGY

Objectives

 

The objectives of The Charlotte Straker Project are "the relief and rehabilitation of aged or infirm persons resident in the local authority district of Tynedale or such other areas of the County of Northumberland as the charity shall from time to time determine (the 'area of benefit') as well as the relief and rehabilitation of aged or infirm persons resident elsewhere in the United Kingdom who have close relations resident in Tynedale and in particular, but without limiting the foregoing, by providing or assisting in the provision of sheltered accommodation, and of nursing and other facilities to alleviate the needs of such persons"

 

And "the advancement of the education of the public with respect to health, housing and welfare problems amongst persons in the area of benefit who are aged or infirm."

Aims

 

Our aims in 2023/24 continued to include the provision of high-quality nursing and residential care according to the individual's needs, supporting those financially who cannot afford our fees. Through 2023/24 we continued to recover from the pandemic - Covid-19 - therefore a number of additional actions were considered, ensuring safety as far as was possible for the residents in our home. We continued to ensure the home followed Covid advice and required infection control measures and as such we kept the spread or instances of Covid to a minimum. Our vision and values continued to be person-centred to make sure people always remain at the heart of the service.

 

Our specific objectives during 2023/24 were to support each person to stay as independent as possible and provide care when it is needed, also to ensure high levels of infection control measures were implemented. We continued throughout the year to receive reports until July 2023 from CQC with the following wording ‘We have suspended our routine inspection programme in March 2020 in response to Covid-19 and do not intend to resume it for the immediate future. We have continued to use a mix of onsite and off-site monitoring to ensure the public have assurance as to the safety and quality of the care they receive. As we emerge from the pandemic, we are further developing our monitoring approach. In accordance with this approach, we carried out a review of the data available to us about Charlotte Straker House on 04-06-2023. We have not found evidence that we need to carry out an inspection or reassess our rating at this stage. This could change at any time if we receive new information. We will continue to monitor data about this service.’ As there have been no formal inspections we continue to adhere to the CQC standards we were previous assessed by. Since July 2023 we have received a request for information about the home by completing a provider information return. However this has not been followed up with a formal inspection.

 

We set ourselves an objective of achieving a consistent 97% occupancy we achieved 96.2% occupancy for 2023/24.

To achieve these aims we provide excellent staffing levels with quality leadership and a skilled workforce, paying careful attention to the assessment criteria and requirements of CQC and NCC. We have had to continue to use some agency staff to cover vacancies across the year and therefore there has been even more emphasis on strong leadership via the Board of Trustees and the Senior Management Team to keep standards high.

 

Our fundraising group has been focussing on fundraising for specific capital items, to meet the shortfall in fees, our activities programme and complementary therapies. Our traditional events have continued including a Christmas Extravaganza, Summer Fete, and Family Cricket Weekend. The group are focusing on setting out a development fund structure so we can continue to be clear about fundraising aims going forward.

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -

Strategy for meeting Charitable Purposes

 

The principal areas of charitable activity continue to relate to the provision of residential and nursing care to the residents of Charlotte Straker House along with accommodation in the form of bungalows which provide independent living to the occupants. Charlotte Straker House is a care home that provides care & accommodation for up to 32 elderly residents in our well-equipped nursing and residential rooms, plus sheltered housing in 8 bungalows on site. The rooms in the main home are dually registered. The average age of our residents is 88 years old. Care is given according to individual needs and we support those who lack funds by making a charitable contribution in certain situations enabling any shortfall in fees to be met.

 

We have created various key messages and have a marketing strategy to promote our services to our local population and increase community engagement via various channels including content marketing, website and online presence, social media, emailed and posted newsletters, adverts and articles in print and fundraising activities, there is further information on this in the report. Work commenced looking at our Branding, Values and Missions statement to enhance our marketing strategy, we will conclude this work in 2024/25.

Public benefit

 

The Board of Trustees has considered the Charity Commission's guidance on public benefit when considering the objectives and activities of the company. As a registered charity, the company seeks to benefit the public through the pursuit of its stated objectives and strategic priorities. The charity’s principal source of income remains the fees and rents that it charges for its nursing & residential care and housing accommodation. These are set at a level to ensure the continued financial viability of the organisation, and which is consistent with the charity’s aim of providing high quality services.

 

The charity welcomes residents from all backgrounds. In particular, the charity believes it is important that access to accommodation is not restricted to those who can afford to pay. All the charity’s housing rents are set in accordance with guidance from the housing regulator on social and affordable rents.

 

During the year 23% of all of the charity’s nursing/residential care was either occupied by, or available to, those who may be unable to meet the cost of such accommodation from their own means. The charity supports with funding the shortfall for those residents unable to meet the full amount

 

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
REPORT ON ACHIEVEMENTS, PERFORMANCE AND STRATEGY DEVELOPMENT
Achievements and performance

Review of activities

 

The last twelve months have seen continued development across all areas of the service at CSP. The Board agreed to a revision of the Senior Management team, through a move to create a General Manager (Registered Manager) and a Home Manager (Clinical & Operational) position alongside the Deputy Manager. This was trialled over an 8-month period and following feedback it was agreed that this was not fit for purpose and lack of visibility of the management team was highlighted. As a result, we reverted back to the previous model. The Organisation received the resignation from the Clinical Lead which was covered internally as an interim arrangement and just prior to year-end the resignation of the Registered Manager was received. The Registered Manager has been replaced with an interim appointment. This is providing the Board with an opportunity to re-evaluate and ensure the best structure to reflect the needs, aims and objectives of the service as it moves forward. This will be implemented during 2024/25.

 

The admission journey for all new residents has been reviewed, with the aim of ensuring both compliance with recognised best practice including guidance issued with the Competition and Markets Authority (CMA) on consumer law within care homes, and greater transparency. This has resulted in the implementation of a detailed pathway from the point of an initial enquiry being received, to the point of admission to the service. All supporting documentation is available for residents and families on the website or as a pack to assist them with the transition to care. The Board have been fully involved in this improvement and will monitor delivery over the year ahead.

 

Recruitment continues to be a key focus for the service, to ensure a full complement of staff to provide consistency and quality to residents using the service. The use of online platforms, such as Indeed, to advertise roles continues. It is positive to be able to report that use of agency staff has substantially reduced from a cost of £205,539 in 2022/23 to £82,617 in 2023/24 and we will continue to work to further reduce this over 2024/25

 

We have invested in a computerised EMAR medication system with the aim of providing a more cohesive approach to medicines management across the service. Amendments to the system and associated processes continue to be made as we embed it within the service.

 

A new offering from the service in terms of day care provision is available for the community. We have limited this to two visitors per day to ensure this compliments but does not impact adversely on the running of the main home. Guests can access homemade food, activities, access to bathing facilities and company. Where this service has been used, it has been successful in supporting clients to access care whilst continuing to live in their own homes or with loved ones.

As detailed earlier our activities and engagement has gone from strength to strength over the last year, it should be highlighted that a much-valued aspect of the activity offering to residents, is the support provided by our volunteer team. Residents not only welcome volunteer interaction but look forward to the engagement and companionship gained from our volunteers

 

Ensuring our staff and residents families were kept updated was of key importance throughout the year, and regular internal and external communications helped keep all stakeholders updated with our position and wellbeing of the residents and staff. The Chair and Registered Manager have continued with the personal contact with staff, residents and relatives and face to face meetings where questions can be asked are favoured by many. This has worked well and was received positively.

 

We have had changes in the Board and four Trustees stood down during 2023/24. Anna Blackett, Neil Braithwaite, Ann Wagstaff & Peter Willey have all given so much over the years to Charlotte Straker and we are extremely grateful to them and hoping they continue to support us as occasional volunteers. We did recruit four new Trustees but unfortunately one had to stand down and we therefore have ten Trustees on our Board.

 

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -

Communication

 

We have implemented an internal communications strategy to ensure that information flows smoothly and fosters collaboration, alignment, and a sense of purpose among employees.

 

Our Communication Objectives include:

 

 

The key communication channels utilised include:

 

 

Some of our highlights were the development of the quarterly resident, relative, bungalow and staff newsletter with engaging stories and updates on our projects and residents, the adoption of the “reels” video format on Facebook and the creation of engaging and popular content on resident activities and outings.

 

Effective communication is an essential component of our success. We have several different stakeholder audiences, all requiring different ways of communicating. Through a multi-channel approach and strategic planning, we aim to continue fostering awareness, engagement, and support for The Charlotte Straker Project and the crucial work we do.

 

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -

Nursing/Residential Client Referrals

 

Charlotte Straker has maintained a high profile within the local community throughout 2023/ 4. This continues to be useful in the context of marketing and signposting to the service.

The senior management team continue to maintain effective links with local hospitals, social work teams and the local GP service. This supports the development of and ensures that we maintain strong relationships with community and primary care providers.

 

We have worked to review the admissions process with the aim of providing a more transparent and structured pathway from initial enquiry to admission to the service. The revised process also ensures a robust approach to assessing and confirming funding arrangements prior to the point of giving authority to admit to the service.

 

We have commenced day service provision in the last twelve months. This allows the service to offer day care opportunities to a maximum of two people from the local community each day. The service offered includes access to activities alongside the companionship of peers. Care needs are met during the time spent at Charlotte Straker and, where issues are identified, signposting to community services provided. Engagement with the service, though slow to develop, has already shown success in supporting people who require additional support with care needs and those seeking opportunities for social engagement. We continue to promote and offer support in this area.

 

Volunteers

 

Volunteers continue to play a crucial role in enhancing the well-being and quality of life for our residents. Their contributions go beyond the essential services provided by staff, bringing companionship, joy, and a sense of community. Volunteers engage in various activities such as spending time with residents and befriending individuals, organising and leading the shop trolley, leading arts and crafts sessions, accompanying residents on outings, holding religious services or even offering specialised skills like massage therapies. By dedicating their time and enthusiasm, volunteers create an environment that promotes social interaction, mental stimulation, and emotional support, ultimately making a significant positive impact on the overall happiness and contentment of residents at Charlotte Straker House.

 

Our volunteers also support our fundraising committee, help organise, plan and run our fundraising events, such as our Summer Fete, Craft Fairs, Family Fun Day and many other events.

 

We currently have a number of volunteers who regularly commit time and support to CSP. The Charity really appreciates their commitment and is aiming to recruit further people who can then support more activities out in the community. We recognise our volunteers yearly; work is underway through the Board to increase the number of volunteers and befrienders as we recognise that this will further enhance our residents’ experience with us.

 

Fundraising Approach

 

We commented in last year's report of the difficulties with fund raising during 2021/2022 as a result of being unable to hold events either at Charlotte Straker or within the community.

 

We decided to continue our approach of seeking larger donations from Trusts and over a three-year period where possible. We have also continued to seek donations as against specific needs at a smaller contribution level. We have seen an increase in events where our staff are keen to raise money for the charity to support specific projects and this is greatly appreciated as they do this in their own time. This demonstrates the family approach in CSP.

 

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -

Fundraising

 

This year, our fundraising efforts focused on three objectives:

 

We are pleased to report a better year for community and individual fundraising. Through the dedication and generosity of our local supporters, we held over ten engaging events. These vital funds directly support our projects and enable us to continue delivering exceptional services for our residents.

 

From charity walks, the summer fete, pub quizzes, ceilidhs and family fun days, each event brought our community together to celebrate our cause and raise awareness about our charity. We are incredibly grateful to everyone who participated, volunteered, or donated to our events. Their support makes a real difference in the lives of those we serve and this raised £15,046.

 

Corporate Partnerships - We established a corporate partnership with the Coop, by becoming part of their Local Community Fund. As part of this partnership, we receive a percentage of all sales from Coop members, who sign our organisation as their preferred charity. The funds will be used to help fund our activities for our respite residents.

 

Legacies & Donations

 

We are very grateful for the generosity and support of individual donors and companies’ and during 2023/24 we benefitted from the following receipts: -

 

Donations     £35,897

Legacies     £703,811

Grants     £132,814

 

 

We are pleased to report receiving eleven impactful grants this year, in addition to the Roland Cookson Fund at the Community Foundation, Tyne & Wear and Northumberland, which is discussed below. These grants significantly contribute to enriching the lives of our residents and the overall sustainability of our care home and include both restricted and unrestricted grants

 

 

We are deeply grateful to the generous grant-making bodies who support our mission. These grants play a vital role in ensuring we can continue to provide exceptional care and a nurturing environment for all our residents.

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -

Roland Cookson Fund at the Community Foundation Tyne & Wear and Northumberland

 

Securing consistent grant funding is essential for our long-term sustainability. We were once again delighted to receive a grant of £77,121 from the Roland Cookson Fund. This now recurring annual grant provides invaluable support for our residents. This reliable funding allows us to confidently plan for the future and continue delivering exceptional care for our residents. We are incredibly grateful to the Roland Cookson Fund for their ongoing partnership and commitment to our mission. This year's grant has contributed to the monies we have used to support those residents who are unable to meet our full fees.

 

Shortfall in fees

 

As mentioned above each year we aim to provide a charitable contribution to a number of our residents who have a shortfall in their fees due to lack of personal means. As costs have risen and local authority funding has not kept pace then we are put in a position for some residents, who do not have the means and a third party top up is not available, of needing to support them financially. Funds to cover the shortfall have to be raised by our fundraising activity (as mentioned on p7). We have to carefully assess and manage our charitable contribution to the shortfall because if the sum becomes excessive then this will eat into our reserves which are finite. It is incumbent on trustees to manage the resources of the charity very carefully and in particular ensure that those who are able to pay should pay and to lobby to ensure NCC fee structure is reformed to reflect the true costs to the charity.

 

Marketing and PR

 

We actively engaged in raising awareness about our services and fundraising needs through various marketing and PR strategies. We are dedicated to utilizing these funds responsibly and transparently. Your continued support allows us to provide exceptional care and enrich the lives of our residents.

 

CQC inspection

 

As detailed in our aims no physical inspections have taken place throughout the last twelve months at CSP. The last recorded updated review of information, published by CQC, via their own web site came in July 2023. This states that CQC have not received any information which means they did not need to re- assess the existing rating at CSP at this time.

 

The last provider information request from CQC was completed and submitted in March 2024. Our current CQC rating is ‘Good’ with ‘Outstanding’ for Well Led.

Northumberland County Council Monitoring Visit

 

No formal inspection has been forthcoming from NCC. A ‘spot check’ visit took place during a visit to the service, in November 2023. Feedback provided on the day raised no formal issues and feedback regarding staff engagement and presentation was positive. No planned visits have been announced and all provider meetings continue to be held virtually.

 

The Building

 

Home Group have, following an extensive review, carried out a number of repairs to ensure health and safety of the building. We have upgraded the corridors and commenced a programme of internal decoration of communal areas and facilities, to enhance the overall quality of living space and provide a more homely environment for those residing at Charlotte Straker House. Improvement and further plans have been made to the exterior of the building and the gardens.

 

We continue to work closely with Home Group, as Freeholders, to report and monitor repairs as these are required. We meet bimonthly to ensure all improvements are made in required timescales.

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -

Strategic Planning for the future

 

The Strategic Development Board has met on a number of occasions during the year and took part in the Board Meeting Review at which it posed a number of questions for consideration by the Trustees.

 

Charlotte Straker occupy the premises by way of a Management Agreement from the freeholders Home Group. Home Group do not want to make further substantial capital investment in the Home given its age and the fact that the site has been intensively developed to date.

 

The Trustees have previously held discussions with Home Group regarding any improvements they wish to make being compensated by Home Group at the end of the term. Home Group were not prepared to consider this approach previously and the Trustees have spent funds in the previous years making all rooms benefit from ensuite facilities and added two bedrooms and an office.

 

We have recognised the need to build long term relationships with Trusts and Individuals alike in order to maintain financial support that enables us to meet our Charitable objectives. Effective Fundraising lies at the heart of our ability to meet the demands upon us.

 

We have sought to upgrade the premises internally and externally by preparing a programme of work that would see each of the bedrooms being refurbished on a 5-year rolling cycle and the common parts such as the Dining Room, Kitchen and Residents' lounge being adapted to improve the facilities.

FINANCIAL REVIEW

Financial position

 

The Trustees recognise the importance of sound financial management and have in place robust financial policies and controls which are reviewed regularly by the Finance and Performance Committee and Board of Trustees. We also acknowledge the vital and greatly appreciated support of our local community, donors and loyal employees.

 

The year 2023/24 continued to be challenging, largely as a result of underfunding of the care sector. However the reliance on agency staff over the year was much less than in the previous year, which had a positive impact on our underlying operating position.

 

During the year, the Charity received three significant legacies, totaling £703,811. The Trustees have determined that these three legacies should be treated as designated funds. These include a fund to support the provision of our free community respite bed which we re-opened in 2024, plus funds to consider the home's longer term redevelopment options. A grant of £77,121 was received from the Community Foundation to support core activities. There were also two grants received totaling £20,000 which were designated by trustees to help fund the shortfall on fees arising from providing care to a number of residents who were funded solely by the local authority as a result of their financial position. Grants for restricted purposes totaled £35,693. As at the end of the year designated reserves were £711,110 (March 2023: £0).

 

There was a net inflow of funds of £777,169 (2023: net outflow £71,446) (excluding restricted funds, transfers between funds and movements on investments) - unrestricted incoming funds of £2,881,215 (2023: £1,887,360) and outgoings of £2,104,046 (2023: £1,958,806)

 

There was an unrealised gain of £23,345 shown on the value of our investments, together with a realised loss of £114 on the Endowment Fund.

 

As at the end of the year the the charity had unrestricted reserves, excluding designated reserves, of £1,134,633 (March 2023: £1,045,229).

 

 

Principal funding sources

 

Our principal income is derived from accommodation fees from the 32 residential rooms and 8 bungalows which make up The Charlotte Straker Project. Additional income is derived from our own fundraising activities together with grants from various charities and trusts.

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -

Going concern

 

At the end of the financial year and after taking appropriate action, the trustees consider that the charity has adequate resources to enable it to continue in operational existence for the foreseeable future. For this reason, the charity continues to adopt the going concern basis in preparing the financial statements.

Reserves policy

 

The Trustees had previously resolved to hold money and readily realisable investments equivalent to 6 months operating costs in the event that they had to wind down and cease operations. They were also mindful here of funding issues in the wider health economy and the restraints on budgets evidenced in recent times. During the year ended 31 March 2023 reserves fell in order to maintain cashflow as the wider sector continued to recover from the impact of the COVID pandemic, allowing the Charity to operate safely. During this period Trustees agreed to amend the Reserves Policy to reflect a minimum free reserves cover requirement equivalent to three months operating costs. This approach has been maintained during the year to March 2024.

 

Trustees regularly review the actual level of free reserves held against those required in accordance with this Policy, with the latter figure £650,000. As at the end of March 2024 actual free reserves (defined as those unrestricted funds not designated for specific purposes or tied up in fixed assets) stood at £804,149, which is in accordance with this policy.

 

Our reserves are represented by both fixed and current assets held, and includes monies held on deposit and various investments held by the charity. The Trustees have taken a prudent approach to investment, as detailed in the Investment Policy and Objectives section of this report, which strikes a careful balance between monies held as part of longer-term investments and monies held on deposit, that are more readily available for use when the need arises. The reserves policy adopted ensures that The Charlotte Straker Project has funds at its disposal, that can be drawn on, so that the charity can continue to operate and fulfil its financial commitments, even in such circumstances as have been seen this year.

 

 

Investment policy and objectives

 

A review of the charity investment policy was carried out in February 2019 when it was agreed to appoint Brewin Dolphin, a professional fund management company as investment managers of £200,000 of its Reserves. This investment represents the amount that the Trustees feel is prudent to place longer term and the objectives are to achieve above inflation capital growth of inflation plus 2% with a moderate risk level which should allow the Charity at least to maintain the real value of the assets, ultimately for the benefit of its current and future residents. This has been achieved in the year ended 31 March 2024 when the increase in the value of investments was £26,347 from the value at 31 March 2023.

 

 

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -

Risk management

 

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls and mitigating actions are in place to provide reasonable assurance against consequences, fraud and error. The Trustees continue to review the business risks and have an active and systematic risk management strategy.

 

Individual Board Committees have their own discrete Risk Registers which are shared with the Nominations and Governance Committee prior to each Board Meeting. The highest scoring risks from all the Committees plus any specific to the Board are then combined to produce the Organisational Risk Register (ORR) which is shared, discussed and agreed at the Executive Board Meeting. Trustees have requested that there are always two risks present on the ORR – Cash and Health & Safety – as they wish to have knowledge of the current position. All Risk Registers are based on the identification of risk in the first place (on a scored basis) and mitigated in the second place (scored again), thereby hopefully reducing the resultant score.

 

Cash and Reserves are covered in detail elsewhere in this report but it should be noted that these areas are highlighted in the monthly management accounts which all Trustees receive and discussed in Board and other committee meetings throughout the year. The Board of Trustees were, and are, all aware of financial challenges and contributed to discussions and plans for the Budget 2024/25

 

What is set out above identifies how CSP has and continues to manage our major risks in addition to our “normal strategy” of identifying the “lesser” types of risks that Charlotte Straker faces.

 

STRUCTURE GOVERNANCE AND MANAGEMENT

Governing document

 

The Charlotte Straker Project is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

 

In the event of The Charlotte Straker Project being wound up, the individual liability of every member of the charity shall not exceed £1.

 

Charity constitution

 

The Charlotte Straker Project is a charitable company limited by guarantee, registered at Companies House, incorporated on 16 October 1992 and registered as a charity on 17 May 1993. The objects and powers of the charity are as set out in the Articles of Association.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr GM Black
Lady AM Blackett
(Resigned 20 September 2023)
Mr NE Braithwaite
(Resigned 1 April 2024)
Dr W Cunningham
Ms MA Gordon
Ms B Groves
Ms ME A Jones
Ms JE Lightley
Ms MA Wagstaff
(Resigned 1 April 2024)
Mr PG Willey
(Resigned 30 June 2023)
Ms L Woodcock
Mr RJ Eldridge
(Appointed 15 June 2023 and resigned 29 October 2023)
Ms EJ Hastings
(Appointed 15 June 2023)
Mr D Ainslie
(Appointed 15 June 2023)
Ms J Iley
(Appointed 15 June 2023)
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 12 -

Recruitment and appointment of new trustees

 

The directors of The Charlotte Straker Project are also Trustees of the charity. They are known as the Executive Committee. Each year at the AGM a number of the longest serving members retire, by rotation, and being eligible and assuming willingness, may offer themselves for re-election. A term of office is recommended as nine years however if Trustees are willing to continue and have valuable skills they will be re-elected.

 

Taking into consideration the nature of the work that The Charlotte Straker Project undertakes, the Executive Committee seek to ensure that the needs of the sector of the community that it serves are appropriately reflected through the diversity of the Trustee body and that collectively the Trustees have the skills required enabling the charity to operate effectively. This is an ongoing process, as is an endeavor to anticipate succession planning for the Trustee cohort. The method of appointment/induction of trustees was updated and reviewed in 2021 and is now as set out below. This method of appointment is managed by the Executive Committee reviewing the current skillset and looking to augment where appropriate. Trustees come from very diverse backgrounds and therefore have a number of skills to offer The Charlotte Straker Project. These include medical, clinical, legal, financial, property and managerial. There are specific skills in safeguarding and care provision and therefore there is an excellent representation on the Executive Committee.

 

In the year 2023/24 we appointed Jane Hastings, Jane Iley, Bob Eldridge and Dean Ainslie as new Trustees. Four Trustees stood down by March 2024, one of the newly appointed Trustees declared that they no longer wished to continue as a Trustee but would support as a volunteer. All details of the Trustees can be found on our website.

 

The organisation is required by the Charity Commission to appoint one of their body as their Lead Trustee on Safeguarding issues with a focus on ensuring appropriate Trustee oversight on Safeguarding practice and procedures. The Trustee appointed is Lesley Thirlwell (Woodcock) and this responsibility is renewed on an annual basis in June at the relevant Board Meeting

 

The current Trustees are familiar with the practical work of the Charlotte Straker Project.

 

We regularly review and update our Induction and Training for new Trustees, the last such update being in October 2021. Any prospective appointment of a Trustee is discussed at a Nominations Committee and then presented to the Executive Committee before an approach is made. If the proposal is agreed the Chair meets with the potential new Trustee, to discuss the work of the charity and the role of a Trustee. An 'Introductory Pack' of information is provided and he/she is invited to attend the following Executive Committee meeting as an observer and introduce themselves to the Board of Trustees.

 

Included in the Introductory Pack the new Trustee is directed to the relative Charity Commission website and section on the responsibilities of a Trustee.

 

Following the Executive Meeting the Trustees will discuss the appointment once more and if agreed as suitable and, subject to all necessary checks being completed, the person will be invited to become a Trustee. New Trustees attend induction training sessions run by the Chair and others which cover the obligations of Trustees, Safeguarding training, the main documents which set out the operational framework for the charity, Regulatory reports, the current financial position including the latest audited accounts, management accounts and future plans and objectives.

 

As detailed during 2022/23 there have been a number of Strategic Discussions regarding the future of Charlotte Straker as an organisation with a number of models suggested, we therefore planned to hold an in person Away Day 21st May 2025 at which all Trustees together with agreed specialists to review and agree our ‘Strategy’ and also ensure all Trustees are updated.

 

Trainee courses are made available to our Board and information from Charity Commission and Solicitors provides us with up-to-date information regarding Charity awareness.

 

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 13 -

Organisational structure

 

The Executive Committee (Board of Trustees) continues to meet every quarter. The Executive Committee meetings include the Registered Manager, to whom day to day responsibility for delivery of care and the running of the care home facility is delegated. This responsibility includes managing the appropriate budgetary areas set out by the Treasurer and Chair. The manager does not have voting rights.

 

On the Board we have a:

 

There are 5 committees: –

Strategic Development (SDC) – Chair Gavin Black

Quality (QC) – Chair Ann Wagstaff until September 23 then Maureen Gordon

Finance and Performance (F&G) – Chair Peter Willey until June 23 then Janice Lightley until December 2023 and then Jane Iley

Fundraising (FR) – Chair Angela Jones until September 23 then Sally Urwin (Marketing Manager)

Nominations & Governance (NC & G) – Chair Berenice Groves

 

Board & Committee Structure as below:

The trustees are responsible for defining the charity's senior management pay policy and deciding on the salary of the Registered and Deputy Manager. The board delegates this responsibility to the Nomination & Governance Committee signed off by the Board. The Registered Manager has the key operational leadership role in the charity. Nationally there is a dearth of good managers who are prepared to manage Care Homes. It is important to assure quality of care that we can both recruit and retain the right person.

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 14 -

Senior management team

 

The SMT structure was reviewed, and changes made in 2023, to reflect a structure which included a Registered General Manager, a Home Manager and a Deputy Manager.

 

Further changes through the resignation of the Registered Manager and the Home Manager are anticipated and, to this end, a strategic review of the existing structure has commenced, led by the Chair of the Board of trustees alongside the Interim Registered Manager.

 

The current SMT structure now consists of the Interim Registered Manager, a Deputy Manager, and an Acting Clinical Lead Nurse.

 

Care North East

 

The Charlotte Straker Project is a member of a trade organisation, Care North East (CNE), which looks at the terms and conditions of the contractual arrangements with Northumberland County Council (NCC). We continue our membership of this organisation to ensure residents are adequately supported by NCC. 2023/24 was the final year of our 3-year contract, negotiations have taken place during this financial year. Outputs of this are presented in the new contract for 2024/25. The Judicial Review commenced in 2022/23 continued during 2023/24 and will conclude in the coming year.

General Data Protection Regulation (GDPR)

 

As CSP takes on new staff workshops have been run covering the principles of GDPR and the specific data protection systems. We have appointed our Office Manager as the Information Governance Lead to ensure the policy is adhered to and any incidents are reported to the Information Commissioners Office.

 

Staff and training

 

The staff team at Charlotte Straker consists of:

•    Housekeeping team

•    Cooking and catering team

•    Nursing and Care team

•    Administration team

 

Recruitment of staff has remained as a key focus throughout the last twelve months, with success in recruitment meaning that several new starters have been welcomed at Charlotte Straker.

 

Time has been invested by the Chair of the Board and Trustees in listening to staff and their concerns and ideas, to ensure that the team feel valued and listened to. This has been successful in boosting staff morale and focus. The service has seen several new recruits across the last year, in all departments within the service. Currently, support is on-going to assist newer recruits to learn the differing facets of their role and this is supported through the Induction process.

Staff Training

 

Training for staff continues to be a key area of focus across the service. Focus moving forward will be on working to establish a team of staff trainers and facilitators to then cascade learning and knowledge across the team at CSP.

 

Key activity in training has been a focus on:

1.    Care Certificate Training

2.    NVQ Diploma in Care

3.    Gold Standard End of Life Care

4.    Values in Care Training

5.    Safeguarding training

6.    DOLS training

 

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 15 -
Statement of trustees' responsibilities

The trustees, who are also the directors of The Charlotte Straker Project for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements 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 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 charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

In accordance with the company's articles, a resolution proposing that Sumer Auditco Limited be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to 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.

Ms B Groves
Trustee
10 October 2024
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE CHARLOTTE STRAKER PROJECT
- 16 -

Opinion

We have audited the financial statements of The Charlotte Straker Project (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial 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 the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 31 March 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 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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 performed, we have not identified any material 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 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.

Other information

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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

-

the information given in the trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and

-

the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements.

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF THE CHARLOTTE STRAKER PROJECT
- 17 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to 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 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.

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 to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’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.

Auditor's responsibilities for the audit of the financial statements

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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF THE CHARLOTTE STRAKER PROJECT
- 18 -
Capability of the audit in detecting irregularities, including fraud

Based on our understanding of the charitable company and the sector in which it operates, we identified that the following laws and regulations are significant to the entity:

 

 

These matters were discussed amongst the engagement team at the planning stage and the team remained alert throughout the audit.

 

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: inquiries of management and the Trustees as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence and legal costs incurred; review of Trustee meeting minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. 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 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 the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Stephen Slater (Senior Statutory Auditor)
for and on behalf of Sumer Auditco Limited
Statutory Auditor
Unit 2
Newcastle upon Tyne
NE12 8EG
Date:
11 October 2024
2024-10-14
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
- 19 -
Current financial year
Unrestricted
Unrestricted
Restricted
Endowment
Total
Total
funds
funds
funds
funds
General
Designated
2024
2024
2024
2024
2024
2023
Notes
£
£
£
£
£
£
Income and endowments from:
Donations and legacies
3
109,202
726,464
36,856
-
872,522
199,889
Charitable activities
4
2,015,327
-
-
-
2,015,327
1,775,047
Other trading activities
5
9,651
5,374
21
-
15,046
21,896
Investments
6
11,492
-
-
129
11,621
7,905
Other income
7
3,705
-
-
-
3,705
14,787
Total income and endowments
2,149,377
731,838
36,877
129
2,918,221
2,019,524
Expenditure on:
Raising funds
8
4,554
1,484
-
-
6,038
11,809
Charitable activities
9
2,065,229
32,779
36,977
-
2,134,985
2,081,764
Total expenditure
2,069,783
34,263
36,977
-
2,141,023
2,093,573
Net gains/(losses) on investments
14
23,345
-
-
(114)
23,231
(19,591)
Net income/(expenditure)
102,939
697,575
(100)
15
800,429
(93,640)
Transfers between funds
-
-
5,956
(5,956)
-
-
Net movement in funds
11
102,939
697,575
5,856
(5,941)
800,429
(93,640)
Reconciliation of funds:
Fund balances at 1 April 2023
1,031,694
13,535
26,429
5,941
1,077,599
1,171,239
Fund balances at 31 March 2024
1,134,633
711,110
32,285
-
1,878,028
1,077,599

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 20 -
Prior financial year
Unrestricted
Unrestricted
Restricted
Endowment
Total
funds
funds
funds
funds
General
Designated
2023
2023
2023
2023
2023
Notes
£
£
£
£
£
Income and endowments from:
Donations and legacies
3
56,503
11,395
131,991
-
199,889
Charitable activities
4
1,775,047
-
-
-
1,775,047
Other trading activities
5
6,661
15,235
-
-
21,896
Investments
6
7,732
-
-
173
7,905
Other income
7
14,787
-
-
-
14,787
Total income and endowments
1,860,730
26,630
131,991
173
2,019,524
Expenditure on:
Raising funds
8
11,809
-
-
-
11,809
Charitable activities
9
1,858,870
88,127
134,767
-
2,081,764
Total expenditure
1,870,679
88,127
134,767
-
2,093,573
Net gains/(losses) on investments
14
(19,357)
-
-
(234)
(19,591)
Net income
(29,306)
(61,497)
(2,776)
(61)
(93,640)
Transfers between funds
(3,834)
4,018
-
(184)
-
Net movement in funds
11
(33,140)
(57,479)
(2,776)
(245)
(93,640)
Reconciliation of funds:
Fund balances at 1 April 2022
1,064,834
71,014
29,205
6,186
1,171,239
Fund balances at 31 March 2023
1,031,694
13,535
26,429
5,941
1,077,599
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 21 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
16
360,587
395,377
Investments
17
239,299
218,893
599,886
614,270
Current assets
Debtors
19
58,591
81,430
Investments
20
11,128
10,749
Cash at bank and in hand
1,347,583
545,445
1,417,302
637,624
Creditors: amounts falling due within one year
21
(139,160)
(174,295)
Net current assets
1,278,142
463,329
Total assets less current liabilities
1,878,028
1,077,599
Capital funds
Endowment funds
Expendable endowment
23
-
5,941
-
5,941
Income funds
Restricted funds
25
32,285
26,429
Designated unrestricted funds
24
711,110
13,535
General unrestricted funds
24
1,134,633
1,031,694
1,878,028
1,077,599
The financial statements were approved by the Trustees on 10 October 2024
Ms B Groves
Ms JE Lightley
Trustee
Trustee
Company registration number 02756650
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
- 22 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
31
799,113
(29,051)
Investing activities
Purchase of tangible fixed assets
(11,042)
(30,098)
Purchase of investments
(27,964)
(18,277)
Proceeds from disposal of  investments
30,410
15,064
Investment income received
11,621
7,905
Net cash generated from/(used in) investing activities
3,025
(25,406)
Net cash used in financing activities
-
-
Net increase/(decrease) in cash and cash equivalents
802,138
(54,457)
Cash and cash equivalents at beginning of year
545,445
599,902
Cash and cash equivalents at end of year
1,347,583
545,445
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 23 -
1
Accounting policies
Charity information

The Charlotte Straker Project is a private company limited by guarantee incorporated in England and Wales. The registered office is Charlotte Straker House, Cookson Close, Corbridge, Northumberland, NE45 5HB.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 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 functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. The Board has concluded that the going concern assumption is appropriate in preparing these financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds are unrestricted funds that have been set aside by the trustees for particular purposes.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are assets which must be held by the charity, principally investments, the income arising from which can be used in accordance with the objectives of the charity and is included as unrestricted income. Any capital gains or losses arising on investments, form part of the fund. Investment management charges and legal advice relating to the funds are charged against the fund. Further information of the nature and purpose of this fund is included in the notes to the financial statements.

1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 24 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

 

Expenditure accounted for on an accruals basis and ha classified by activity. Direct costs attributable to a single activity are allocated directly to that activity. Where costs which contribute to more than one activity have been allocated to activities on a basis consistent with the use of resources.

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 to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
3.33% straight line
Fixtures and fittings
20% reducing balance
Computers
33.3% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) 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 indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9
Cash and cash equivalents

Cash and cash equivalents 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 Financial Instruments’ and Section 12 ‘Other 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 party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 25 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes 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 amortised.

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 instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at 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-current liabilities. Trade creditors are recognised initially at transaction price and subsequently 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.

1.11
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates 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 estimates 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.

Critical judgements
Assessing indicators of impairment

In assessing whether there have been any indicators of impairment of assets, the trustees have considered both external and internal sources of information such as market conditions and experience of recoverability.

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
2
Critical accounting estimates and judgements
(Continued)
- 26 -
Key sources of estimation uncertainty
Determining residual values and useful economic lives of tangible fixed assets

The charity depreciates tangible fixed assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.

 

Judgement is applied by trustees when determining the residual values for tangible fixed assets. When determining the residual value trustees aim to assess the amount that the company would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices.

3
Income from donations and legacies
Current financial year
Unrestricted
Unrestricted
Restricted
Endowment
Total
funds
funds
funds
funds
General
Designated
2024
2024
2024
2024
2024
£
£
£
£
£
Donations and gifts
30,420
4,314
1,163
-
35,897
Legacies receivable
1,661
702,150
-
-
703,811

Grants

77,121
20,000
35,693
-
132,814
109,202
726,464
36,856
-
872,522
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
3
Income from donations and legacies
Unrestricted
Unrestricted
Restricted
Endowment
Total
funds
funds
funds
funds
General
Designated
2024
2024
2024
2024
2024
£
£
£
£
£
(Continued)
- 27 -
Grants receivable for core activities
Community Foundation
77,121
-
-
-
77,121
Workforce Grant
-
-
2,846
-
2,846
The Squires Foundation
-
-
10,000
-
10,000
The W A Handley Charity Trust
-
10,000
-
-
10,000
The Barbour Foundation
-
10,000
-
-
10,000
The Joicey Trust
-
-
1,000
-
1,000
Hedley Denton
-
-
2,000
-
2,000
The William Leech Charity
-
-
10,000
-
10,000
Northumbria University Newcastle
-
-
2,647
-
2,647
The Ray Windfarm Fund CIC
-
-
5,000
-
5,000
Parkinson's Society
-
-
1,000
-
1,000
The W G Edwards Charitable Foundation
-
-
1,200
-
1,200
77,121
20,000
35,693
-
132,814
Prior financial year
Unrestricted
Unrestricted
Restricted
Endowment
Total
funds
funds
funds
funds
General
Designated
2023
2023
2023
2023
2023
£
£
£
£
£
Donations and gifts
22,225
11,395
-
-
33,620
Legacies receivable
24,278
-
-
-
24,278

Grants

10,000
-
131,991
-
141,991
56,503
11,395
131,991
-
199,889
Grants receivable for core activities
Community Foundation
-
-
67,933
-
67,933
Northumberland County Council
-
-
47,887
-
47,887
The W A Handley Charity Trust
10,000
-
-
-
10,000
The William Leech Charity
-
-
10,000
-
10,000
The William Webster Charitable Trust
-
-
3,000
-
3,000
Northumbria University Newcastle
-
-
2,771
-
2,771
Other
-
-
400
-
400
10,000
-
131,991
-
141,991
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 28 -
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Nursing and care

Nursing and care

2,015,327
1,775,047
5
Other trading activities
Current financial year
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
General
Designated
2024
2024
2024
2024
£
£
£
£
Fundraising events
9,651
5,374
21
15,046
9,651
5,374
21
15,046
Prior financial year
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
General
Designated
2023
2023
2023
2023
£
£
£
£
Fundraising events
6,254
15,235
-
21,489

Other income

407
-
-
407
6,661
15,235
-
21,896
6

Investments

Unrestricted
Endowment
Total
Unrestricted
Endowment
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Income from listed investments
5,542
-
5,542
5,362
-
5,362
Interest receivable
5,950
129
6,079
2,370
173
2,543
11,492
129
11,621
7,732
173
7,905
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 29 -
7
Other income
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Other income
3,705
4,501

Insurance claims

-
10,286
3,705
14,787
8

Raising funds

Unrestricted
Unrestricted
Total
Unrestricted
Total
funds
funds
funds
General
Designated
General
2024
2024
2024
2023
2023
£
£
£
£
£
Fundraising and publicity
Other fundraising costs
4,554
1,484
6,038
11,809
11,809
4,554
1,484
6,038
11,809
11,809
9
Charitable activities

Residential and nursing

Residential and nursing

2024
2023
£
£
Staff costs
1,487,076
1,429,934
Depreciation and impairment
45,832
48,083

Nursing and care

596,077
597,747
2,128,985
2,075,764
Share of governance costs (see note 10)
6,000
6,000
2,134,985
2,081,764
Analysis by fund
General unrestricted funds
2,065,229
1,858,870
Designated unrestricted funds
32,779
88,127
Restricted funds
36,977
134,767
2,134,985
2,081,764
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 30 -
10
Support costs
Governance costs
2024
Governance costs
2023
£
£
£
£
Audit fees
6,000
6,000
6,000
6,000
6,000
6,000
6,000
6,000
Analysed between
Charitable activities
6,000
6,000
6,000
6,000

Governance costs includes payments to the auditors of £6,000 (2023: £6,000) for audit fees.

11
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
6,000
6,000
Depreciation of owned tangible fixed assets
45,832
48,083
12
Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2023: none).

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 (2023: none).

Trustee indemnity insurance costs amounted to £10,146 (2023: £5,123) during the year.

13
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Administrative
5
5
Key management
3
3
Nursing and care staff
57
54
Total
65
62
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
13
Employees
(Continued)
- 31 -
Employment costs
2024
2023
£
£
Wages and salaries
1,362,202
1,313,315
Social security costs
91,132
87,376
Other pension costs
33,742
29,243
1,487,076
1,429,934
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

The key management personnel of the charity comprise the manager, deputy manager and office manager.

 

The remuneration of key management personnel was as follows:

2024
2023
£
£
Aggregate compensation
132,874
132,808
14
Net gains/(losses) on investments
Unrestricted
Endowment
Total
Unrestricted
Endowment
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Revaluation of investments
23,373
-
23,373
(18,579)
(234)
(18,813)
Gain/(loss) on sale of investments
(28)
(114)
(142)
(778)
-
(778)
23,345
(114)
23,231
(19,357)
(234)
(19,591)
15
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 32 -
16
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 April 2023
534,692
423,137
37,549
995,378
Additions
-
8,562
2,480
11,042
At 31 March 2024
534,692
431,699
40,029
1,006,420
Depreciation and impairment
At 1 April 2023
270,739
304,160
25,102
600,001
Depreciation charged in the year
16,339
24,813
4,680
45,832
At 31 March 2024
287,078
328,973
29,782
645,833
Carrying amount
At 31 March 2024
247,614
102,726
10,247
360,587
At 31 March 2023
263,953
118,977
12,447
395,377
17
Fixed asset investments
Listed investments
Unlisted investments
Total
£
£
£
Cost or valuation
At 1 April 2023
212,952
5,941
218,893
Additions
27,964
-
27,964
Valuation changes
23,373
-
23,373
Disposals
(24,990)
(5,941)
(30,931)
At 31 March 2024
239,299
-
239,299
Carrying amount
At 31 March 2024
239,299
-
239,299
At 31 March 2023
212,952
5,941
218,893
18
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
250,427
223,701
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 33 -
19
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
6,706
9,422
Other debtors
3,318
4,379
Prepayments and accrued income
48,567
67,629
58,591
81,430
20
Current asset investments
2024
2023
£
£
Unlisted investments
11,128
10,749
21
Creditors: amounts falling due within one year
2024
2023
£
£
Other taxation and social security
21,331
19,958
Trade creditors
44,625
40,481
Other creditors
51,657
82,809
Accruals and deferred income
21,547
31,047
139,160
174,295
22
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
33,742
29,243

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 34 -
23
Endowment funds

Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

Movement in funds
Balance at
1 April 2023
Incoming resources
Resources expended
Transfers

Gains and losses

Balance at
31 March 2024
£
£
£
£
£
£
EM Edwards Fund
5,941
129
-
(5,957)
(113)
-
5,941
129
-
(5,957)
(113)
-
Movement in funds
Balance at
1 April 2022
Incoming resources
Resources expended
Transfers

Gains and losses

Balance at
1 April 2023
£
£
£
£
£
£
EM Edwards Fund
6,186
173
-
(184)
(234)
5,941
6,186
173
-
(184)
(234)
5,941

EM Edwards Fund

The permanent endowment fund represented funds transferred to the Charity for the benefit of the residents of Corbridge. The Charity was able to use the interest on the capital of the Fund. The Trustees considered that the Charity could achieve the purposes of the Fund more effectively by spending the Fund itself rather than just spending the income. In September 2023 it was resolved that in exercise of the powers contained in section 281 Charities Act 2011 as amended by Charities Act 2022 that the Fund should be spent on meeting part of the costs of improving the kitchen and dining room facilities at Charlotte Straker House and the funds was transferred to the Refurbishment fund within Restricted Funds.

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 35 -
24
Designated unrestricted funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

 

Current financial year
Movement in funds
Balance at
1 April 2023

Incoming resources

Resources expended

Transfers

Gains and losses

Balance at
31 March 2024
£
£
£
£
£
£
Community Respite Bed
-
137,000
-
-
-
137,000
Capital Asset Fund
9,031
565,000
(4,149)
-
-
569,882
Residents fund
3,131
9,708
(9,545)
-
-
3,294
Equipment fund
1,373
-
(439)
-
-
934
Staff welfare fund
-
130
(130)
-
-
-
Shortfall
-
20,000
(20,000)
-
-
-
13,535
731,838
(34,263)
-
-
711,110
Prior financial year
Movement in funds
Balance at
1 April 2022

Incoming resources

Resources expended

Transfers

Gains and losses

Balance at
1 April 2023
£
£
£
£
£
£
Community Respite Bed
50,577
8,162
(58,739)
-
-
-
Capital Asset Fund
20,437
12,628
(24,034)
-
-
9,031
Residents fund
-
2,087
(2,974)
4,018
-
3,131
Equipment fund
-
1,811
(438)
-
-
1,373
Staff welfare fund
-
1,942
(1,942)
-
-
-
71,014
26,630
(88,127)
4,018
-
13,535
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
24
Designated unrestricted funds
(Continued)
- 36 -

Community Respite Bed

The charity received two legacies during the year totalling £137,000. The trustees determined that these should be allocated to a Designated Fund to cover the costs of providing a community respite bed during 2024/25 and beyond.

 

Capital Asset Fund

The Charity received a very significant legacy of £565,000 during the year. The Trustees determined that this legacy should be allocated to the Designated Capital Asset Fund.

 

Community Respite Bed

In a prior year the trustees designated £50,000 of general unrestricted funds to the Community Respite Bed, monies which will be used to develop and support this service. The balance brought forward in this fund was £50,577 and further amounts have been added and expended in the year resulting in a designated balance carried forward of £nil.

 

Resident’s Equipment Fund

A Designated Fund for the replacement of existing equipment or purchase of new equipment is financed by an amount designated in the budget or by specified fundraising events, grants, or unspecified donations.

 

Staff Welfare Fund

A Designated Fund for donation to staff by residents and their families. It is fully used each Christmas to buy gift cards for staff.

 

Shortfall

The charity received two unrestricted grants during the year totalling £20,000 during the year. The Trustees determined that these grants should be allocated to a Designated Fund to help fund the full cost of nursing and residential care for those residents who may be unable to meet the cost of such accommodation from their own means.

 

25
Restricted funds
Current financial year
Movement in funds
Balance at
1 April 2023
Incoming resources
Resources expended
Transfers

Gains and losses

Balance at
31 March 2024
£
£
£
£
£
£
Community Foundation Staff Counselling Fund
2,778
-
(557)
-
-
2,221
Workforce
-
2,845
(2,845)
-
-
-
Refurbishment fund
20,894
2,000
(2,809)
5,956
-
26,041
Nursing training
-
2,647
(2,647)
-
-
-
The William Webster Charitable Trust
2,757
-
(636)
-
-
2,121
Pergola
-
1,200
-
-
-
1,200
Parkinsons Society
-
1,021
(319)
-
-
702
Shortfall
-
21,000
(21,000)
-
-
-
Activites for day care
-
6,164
(6,164)
-
-
-
26,429
36,877
(36,977)
5,956
-
32,285
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
25
Restricted funds
(Continued)
- 37 -
Prior financial year
Movement in funds
Balance at
1 April 2022
Incoming resources
Resources expended
Transfers

Gains and losses

Balance at
1 April 2023
£
£
£
£
£
£
Community Respite Bed
250
-
(250)
-
-
-
Community Foundation Staff Counselling Fund
3,822
-
(1,044)
-
-
2,778
NCC Infection Control
-
42,054
(42,054)
-
-
-
Service hoists
2,500
-
(2,500)
-
-
-
Roland Cookson Fund @Community Foundation
-
77,933
(77,933)
-
-
-
Refurbishment fund
22,633
-
(1,739)
-
-
20,894
Queens Platinum Jubilee Fund
-
400
(400)
-
-
-
Nursing uplift
-
5,833
(5,833)
-
-
-
Nursing training
-
2,771
(2,771)
-
-
-
The William Webster Charitable Trust
-
3,000
(243)
-
-
2,757
29,205
131,991
(134,767)
-
-
26,429

Community Foundation Staff Counselling Fund

An amount of £4,800 was granted to the charity by the Community Foundation for the sole purpose of staff counselling sessions for members of staff who have struggled working throughout the Covid-19 pandemic.

 

Refurbishment fund

This fund is restricted and was set up in the year with funds received from the Sir James Knott Trust and Northumberland County Council specifically for the refurbishment of rooms and facilities within the home.

 

The William Webster Charitable Trust

Grants from William Webster to go towards the replacement of our bed rails/rail bumpers/extenders, together with cost of replacing a steam generated iron. The full amount of the grant was not spent at the one time and the balance was carried forward to complete the replacement of the equipment.

 

Pergola

This fund was a restricted grant towards the costs of installing a pergola in the residents’ garden area.

 

Parkinsons Society

This was a restricted grant to help with specific costs for residents with Parkinsons Disease.

 

Shortfall

The charity received three restricted grants during the year to help fund the full cost of nursing and residential care for those residents who may be unable to meet the cost of such accommodation from their own means.

 

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 38 -
26
General unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Current financial year
At 1 April 2023
Incoming resources
Resources expended
Transfers
Gains and losses
At 31 March 2024
£
£
£
£
£
£
General funds
1,031,694
2,149,377
(2,069,783)
-
23,345
1,134,633
Prior financial year
At 1 April 2022
Incoming resources
Resources expended
Transfers
Gains and losses
At 31 March 2023
£
£
£
£
£
£
General funds
1,064,834
1,860,730
(1,870,679)
(3,834)
(19,357)
1,031,694
27
Analysis of net assets between funds
Current financial year
Unrestricted funds
Designated funds
Restricted funds
Endowment funds
Total
2024
2024
2024
2024
2024
£
£
£
£
£
Fund balances at 31 March 2024 are represented by:
Tangible assets
330,482
5,516
24,589
-
360,587
Investments
239,299
-
-
-
239,299
Current assets/(liabilities)
564,852
705,594
7,696
-
1,278,142
1,134,633
711,110
32,285
-
1,878,028
Prior financial year
Unrestricted funds
Designated funds
Restricted funds
Endowment funds
Total
2023
2023
2023
2023
2023
£
£
£
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
368,527
5,833
21,017
-
395,377
Investments
212,952
-
-
5,941
218,893
Current assets/(liabilities)
450,215
7,702
5,412
-
463,329
1,031,694
13,535
26,429
5,941
1,077,599
THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 39 -
28
Operating lease commitments
Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
6,692
6,404
Between two and five years
6,956
6,380
13,648
12,784
29
Other Financial Commitments

Under a 60 year management agreement between the Charlotte Straker Project and Home Group Limited dated 1990, the charity, as successor to the Trust, is committed to make payments to Home Group Limited in respect of management charges, major repairs provision and maintenance.

 

During the year ended March 2011 the charity paid Home Group Limited £110,400 in relation to finance charges in advance of the next 11 years. Each year a proportion of the advance payment accounting to £10,036 is allocated to the financial activities on a straight line basis. At the end of 31 March 2023 the provision for advanced finance charges has been fully released to the statement of financial activities.

2024
2023
£
£
Service charges
22,676
20,440
Property charges
95,444
87,604
30
Related party transactions

There were no disclosable related party transactions during the year (2023: none).

THE CHARLOTTE STRAKER PROJECT
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 40 -
31
Cash generated from operations
2024
2023
£
£
Surplus/(deficit) for the year
800,429
(93,640)
Adjustments for:
Investment income recognised in statement of financial activities
(11,621)
(7,905)
Loss on disposal of investments
142
778
Fair value gains and losses on investments
(23,373)
18,813
Depreciation and impairment of tangible fixed assets
45,832
48,083
Movements in working capital:
Decrease/(increase) in debtors
22,839
(32,273)
(Decrease)/increase in creditors
(35,135)
37,093
Cash generated from/(absorbed by) operations
799,113
(29,051)
32
Analysis of changes in net funds

The charity had no material debt during the year.

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