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REGISTERED COMPANY NUMBER: 03324634 (England and Wales)
REGISTERED CHARITY NUMBER: 1064373















Report of the Trustees and

Financial Statements for the Year Ended 31 March 2024

for

Bethshan Sheltered Housing Association

Bethshan Sheltered Housing Association

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Reference and Administrative Details 1

Report of the Trustees 2 to 8

Report of the Independent Auditors 9 to 12

Statement of Financial Activities 13

Balance Sheet 14

Cash Flow Statement 15

Notes to the Cash Flow Statement 16

Notes to the Financial Statements 17 to 25

Bethshan Sheltered Housing Association

Reference and Administrative Details
for the Year Ended 31 March 2024



TRUSTEES Rev A L Hewitt
Rev J D Smith
L Allen
M R Allport
Rev D H Curgenven
Rev S R Curgenven
E T Coomber
H Y Wenban


REGISTERED OFFICE Heol Treowen
Newtown
Powys
SY16 1JA


REGISTERED COMPANY
NUMBER
03324634 (England and Wales)


REGISTERED CHARITY
NUMBER
1064373


AUDITORS Morgan Griffiths LLP
Chartered Accountants
Statutory Auditor
Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY


SOLICITORS Geldards LLP
Number One Pride Place
Pride Park
Derby
DE24 8QR


BANKERS Bank of Scotland PLC - Cardiff
Barclays Bank PLC - Newtown
INVESTMENT ACCOUNTS
Aldermore Bank
Modulr Finance Ltd

SENIOR MANAGEMENT
Mrs Rachel Griffiths (Home Manager)
Mr Leslie Allen (Registered Individual)
Mrs Deborah Cade (Finance Manager)

Bethshan Sheltered Housing Association (Registered number: 03324634)

Report of the Trustees
for the Year Ended 31 March 2024



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

OBJECTIVES AND ACTIVITIES
Objectives and aims
We primarily exist to meet the needs of the population of Newtown, Powys, and the surrounding areas. The objects of the charity remain 'the relief of poverty, sickness and old age' and Bethshan continues to fulfil these objects specifically by means of the provision of nursing home care for frail elderly persons as well as those living with more advanced forms of dementia. We have been able to provide care for sixty-five individuals at the Home over the course of the year. We have seen a significant increase in the number of residents being admitted with Continuing Healthcare funding reflecting their more complex medical or mental health conditions.

Public benefit
The trustees have considered the Charity Commission's general guidance on public benefit and are satisfied that the services that we provide are accessible to all who need them regardless of their financial resources. Our concern has always been to ensure that good quality care is available to all, and this has been the motivation behind our continued engagement with Powys County Council. Places are offered based on medical condition and the same quality of service is provided to all residents regardless of their funding. We continue to look for appropriate ways to extend the scope of what we do so that more people can benefit from our expertise.

Volunteers
Volunteers have been assisting at the weekly church service providing musical accompaniment and helping residents to take part. The volunteer who provided us with IT support and advice has now retired after 22 years of service following the completion of a programme of upgrading the Wi-Fi and computer equipment as well as decorating a number of offices. He researched a suitable IT support company - Flotek - to take over the role and oversaw the transition.


Bethshan Sheltered Housing Association (Registered number: 03324634)

Report of the Trustees
for the Year Ended 31 March 2024


ACHIEVEMENT AND PERFORMANCE
Charitable activities
Since the pandemic we have, in common with many healthcare settings, found it a challenge to recruit sufficient permanent Healthcare Assistants to fully staff the Home and some long-serving staff have left during the year for various reasons. Consequently, we have placed increasing reliance on several agencies for temporary staff at substantial additional cost. In addition, one of our residents was assessed as requiring 1-to-1 support during the daytime, though this has been fully funded through the Health Board. We have managed to recruit some new nursing staff which has been beneficial.

Our activities provision has expanded as a staff member returned from sickness absence. We now have a multi-talented team who are organising a variety of activities including trips out wherever possible. Unfortunately, our Christmas entertainment was truncated because of an outbreak of infection. The spiritual input to the Home has gone from strength to strength as, on average, almost half of the residents have been attending the weekly services during 2023. The family of a former resident generously paid for improvements to our garden, and we held a garden party in September to show off the new layout and planting.

A comprehensive programme of refurbishment was commenced during the previous financial year, and this has made substantial progress. To date we have seen twenty-one bedrooms completely refurbished with new flooring, paintwork and furniture. Several other rooms have been partially refurbished. Our day rooms have been redesigned with elegant new colour schemes and soft furnishings. All furniture has been completely replaced employing fabrics that coordinate with the new curtains. Dining tables have been re-instated to improve the mealtime experience for our residents. The replacement of the large windows in the reception area and Bradbury Room has significantly improved both areas and we hope to continue the refurbishment with redecoration. Our hairdressing salon is now open for business with the improved facilities in a sophisticated setting, giving our residents more of an experience of being pampered.

The redecorating and repurposing of the office facilities has now been completed. We now have a dedicated training room on the lower floor complete with large monitor for videos and other presentations.

New equipment purchased during the year has included two replacement hi-lo baths - both on the Rayner Whiteley unit. Two replacement profiling beds and ten new air mattresses.

We have been preparing for the changes in the regulations in Wales around waste disposal and recycling. This has involved working out how to implement the requirements in a way that is practical and workable in our setting.

There has been particular attention paid to our food offering and a new kitchen manager was appointed who is making real progress in addressing the needs and preferences of all residents.

FINANCIAL REVIEW
Financial position
The statement of Financial Activities show a deficit for the year of £171,243 (2023: £183,034), and reserves now stand at £1,853,486 (2023: £2,024,729).

Principal funding sources
The main source of funding for running the nursing home is the fee income. This primarily comes from the statutory sources - Powys County Council and Powys Teaching Health Board. We also have a number of private fee payers. In addition to the fees for nursing home care we also receive donations, usually in memory of former residents, some Gift Aid tax reclaimed, and interest from our investment accounts.

Investment policy and objectives
Under the Memorandum and Articles of Association the charity has the power to make any investment, which the trustees see fit.

The trustees take seriously their responsibility to ensure that funds are not put at risk, but also seek to achieve the highest interest possible where surplus funds are in hand. Funds have been spread across wider financial institutions in order to take advantage of Government guarantees


Bethshan Sheltered Housing Association (Registered number: 03324634)

Report of the Trustees
for the Year Ended 31 March 2024


FINANCIAL REVIEW
Reserves policy
Free reserves which equate to net current assets (excluding restricted funds) amount to £459,787 (2023: £665,344).

The level of reserves was set at 3 months operating costs several years ago - this currently equates to approximately £620,000, however, we have been unable to maintain sufficient funds to meet this policy.

Going concern
The assessment of the trustees is that the charity is a going concern, but there are material uncertainties relating to its ability to continue as a going concern. At current rates of reserves, expenditure and income the charity remains a going concern for the current financial year, able to continue its core activities in fulfilment of its objectives. The charity has no debts. We consider that we have adequate management information to continue to enable good decision making. Material uncertainties beyond the current financial year include that charity reserves no longer meet the current policy of 3 months expenditure, making the charity vulnerable to any unexpected large costs, and that increased recruitment and retention of necessary professional staff is essential to avoid unsustainable agency costs. Negotiations with the main commissioners of our service have resulted in a commitment on their part to increase their funding rates and provide short-term / one off funding to provide stability to the organisation if required whilst a financial improvement plan is implemented, so trustees consider that sufficient cash flow is secured for the continuation of the charity activities for at least the current financial year.

FUTURE PLANS
Specific plans for the coming year include:

- Continuing to refurbish bedroom as they become empty
- Refurbishing the kitchenette areas
- Continuing to work with the catering company to improve the food service
- Updating the website.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity 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.

Organisational structure
The charity runs a 40-bed Nursing Home. The specialist Day Centre for those in the earlier stages of dementia which closed at the beginning of the Covid pandemic has not re-opened.

The day-to-day running of the Home including appointment of staff and all matters relating to the medical care of the residents is delegated to the Home Manager and Deputy Manager. The Deputy Manager, the heads of the two nursing units and ancillary staff report to the Home Manager.

The Responsible Individual is the person who bears responsibility for the overall running of the Home and compliance with the Care Standards. He represents the Home in relationships with external bodies.

The Finance Manager is responsible for the management and record keeping relating to the income and expenditure of the Home, the management of fixed assets and reserves as well as compliance with company and charity law for the organisation. The Home Manager, Responsible Individual and Finance Manager report to the Trustees at the regular management meetings.

A Deputy Manager was appointed in October which has enabled us to facilitate face-to-face training in key areas as well as regular supervision of staff and sickness management. Her appointment also ensures that there is a senior person on site during the Home Manager's annual leave. The Manager and Deputy have been working closely together to drive good practice throughout the home.

Bethshan is a member of Care Forum Wales which represents the interests of the care industry at both county and national (Wales) level, as well as Powys Association of Voluntary Organisations (PAVO).

Bethshan Sheltered Housing Association (Registered number: 03324634)

Report of the Trustees
for the Year Ended 31 March 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT
Induction and training of new trustees
No new trustees were appointed during the year. Any new trustees appointed would receive copies of the key documents relating to the charity's work including the governing document, the latest annual report and accounts and guidance relating to their duties and responsibilities as a trustee. They would be required to sign a declaration affirming their suitability to function as a trustee; a copy of the "Fit and Proper Person" form for HMRC; and to read and sign the charity's Conflict of Interest declaration. Trustees are informed of appropriate training being offered and provided by Powys Association of Voluntary Organisations (PAVO).

Related parties
The charity has strong links with Hope Church (Newtown) - a separate charity - which had the vision for the Bethshan project and oversaw its construction. The trustees of Bethshan are drawn principally from the leadership of the church along with other individuals with key skills or knowledge.


Bethshan Sheltered Housing Association (Registered number: 03324634)

Report of the Trustees
for the Year Ended 31 March 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The major risks are summarised in our risk register and remain broadly the same as in previous years, though there is increased awareness of cyber security threats as our dependence on IT increases.

The approach to risks taken by the trustees of Bethshan broadly follows the Charity Commission suggested categorisation i.e., Governance; Operational; Financial; External; and Compliance.

The major risks faced by Bethshan are as follows:

Health & Safety
This covers a wide range of issues from the safe operation of equipment within the building, to the appropriate use of cleaning chemicals. We employ the services of a specialist consultancy to assist with the management of Health and Safety risks. They undertake an audit of our premises each year and make suggestions for improvement. Issues raised by staff or others are addressed as they arise.

Health of Residents
There are several risks associated with our primary activity - the care of our residents - for example, incorrect administration of medication, accidents, and abuse. We have a range of policies detailing the correct procedures to be used regarding most normal activities which staff are required to follow. We subscribe to a policy database specific to the care sector and policies are made available to all staff via a mobile phone app. Policies are updated as necessary and when substantial changes have been made to policies staff are required to demonstrate that they have familiarised themselves with the changes. Staff receive training relating to manual handling, Safeguarding of Vulnerable Adults, food hygiene, fire safety and first aid as required by CIW and other issues are addressed through mentoring and supervision. Training has been delivered online this year via the Newcross Learning Partner for Life material, but we have provided in-person training sessions for key areas.

All appropriate equipment and PPE are provided where necessary.

Adequate complement of trained staff
There has been a general shortage of both nursing and care staff across the sector and we have been no exception. This has necessitated staff, including the Home Manager and Deputy, working additional shifts to meet the needs of the residents, in addition to the use of agency staff. We have an excellent relationship with several staffing agencies and most staff supplied are familiar faces who are well acquainted with our residents and ways of working.

Security
Security covers several areas of concern in addition to the obvious issue of physical security from intruders including risks to the security of information (e.g., personnel records, payroll information, other financial records, and resident's notes). We have a comprehensive IT Policy and cybercrime awareness has become increasingly high profile as cyber threats increase in frequency and sophistication. The use of Microsoft Office 365 with its cloud-based file storage, along with cloud-based accounts and other business software has proved invaluable during the last two years. We now have IT technical support 24/7 from Flotek who also provide an email scanning service which isolates potential phishing emails and spam.

Financial
In additional to the physical security of records, financial risks also include fraud, including unauthorised access to the online banking system in addition to the viability of the business arising because of loss of income. Loss of income may occur for several reasons including reduction in statutory funding, shortage of clients, loss of reputation, or unforeseen expenditure not covered by insurance.

Monthly monitoring of income and expenditure against budget takes place to ensure that we have up-to-date awareness of the financial position of the organisation and reports are given to the trustees.

The risk of fraudulent use of business funds is addressed by comprehensive financial procedures which are reviewed annually to ensure they remain relevant to current conditions and communicated to appropriate staff members.

Bethshan Sheltered Housing Association (Registered number: 03324634)

Report of the Trustees
for the Year Ended 31 March 2024


STRUCTURE, GOVERNANCE AND MANAGEMENT

Reputation
Some of the possible risks to the reputation of Bethshan have already been alluded to and fall under the following broad headings: Health & Safety incident/accident, Employment Law issues, abuse/negligence, other failure to comply with Care Standards or other legislation. Depending on the nature of the incident, these could have a very damaging effect on the business and must be taken very seriously. We employ a firm of consultants to guide us regarding Health & Safety and in connection with employment legislation we employ another firm of consultants to guide us through HR matters. A subscription to the QCS policy database ensures that our policies and procedures are up to date with current legislation.

Compliance
As mentioned above, we use the services of outside consultants to ensure compliance with Health and Safety and employment legislation.

External risks
We have attempted to identify any potential risks that are out of our control as far as their causes are concerned, weigh up their probability and make plans to reduce their negative effects. Such risks include:

Power failure - to minimise the risk of being without power for a protracted period we have a contract with a company who will provide a back-up generator.

Adverse weather - in addition to the possible loss of power, it can be a challenge to maintain staff coverage. A list is maintained of staff who live within walking distance of the home willing to be called at short notice which is updated each year. We have a committed team, and everyone pulls together to ensure that any staff shortage does not impact on the delivery of care to the residents.

Other major catastrophes - substantial damage to the fabric of the building due to gas or water leak or severe weather can be minimised by good regular maintenance and inspection. Our insurance covers us for more serious incidents and includes business interruption.

Procedure for risk management within Bethshan
Responsibility for risk management lies ultimately with the board of trustees but on a day-to-day basis this is delegated to the senior management. The Home Manager, Responsible Individual and Finance Manager undertake an annual audit of risks to the organisation which is based broadly on the Charity Commission guidelines. The main risks are reviewed, and any new risks identified are added to the register. Each risk is assessed for its likelihood of its occurrence and impact should the event occur, how the risk is managed (e.g. by ceasing the activity, specific action taken to minimise the risk, passing on the risk to a third party such as an insurance company) and who is responsible. The audit is evaluated by the trustees who may contribute or remove items as they feel necessary. Once the audit has been completed a list is drawn up of action that is required to address the risks that have been identified which may necessitate additional expenditure, provision of training, professional advice, or other action. This is presented to the Trustees for approval. Risks identified through the audit are communicated to relevant staff members along with details of the action to be taken to manage it. The senior staff meet periodically to discuss progress on the action plan and to add items to the register of risks as these arise. The risk assessment method is itself reviewed from time to time to ensure that it is most effective for the size and nature of the organisation. Regular reports are made to the trustees of any changes to the risks faced by the organisation and action being taken to manage those risks.

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Bethshan Sheltered Housing Association for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".


Bethshan Sheltered Housing Association (Registered number: 03324634)

Report of the Trustees
for the Year Ended 31 March 2024


STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charity SORP;
-make judgements and estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

-there is no relevant audit information of which the charitable company's auditors are unaware; and
-the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

Approved by order of the board of trustees on 17 October 2024 and signed on its behalf by:





L Allen - Trustee

Report of the Independent Auditors to the Members of
Bethshan Sheltered Housing Association


Opinion
We have audited the financial statements of Bethshan Sheltered Housing Association (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the 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.

Material uncertainty related to going concern
We draw attention to the Financial Review section of the Report of the Trustees, which indicates that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Key audit matters
Except for the matter described in the Material uncertainty related to going concern section, we have determined that there are no other key audit matters to be communicated in our report.

Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Report of the Independent Auditors to the Members of
Bethshan Sheltered Housing Association


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where 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 take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company'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.

Report of the Independent Auditors to the Members of
Bethshan Sheltered Housing Association


Our 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 a Report of the Independent Auditors 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
-the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
-we identified the laws and regulations applicable to the charitable company through discussions with management, and from our knowledge and experience of the charity sector;
-we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charitable company, including relevant legislation such as the Companies Act 2006, taxation legislation, employment, environmental and health and safety legislation;
-we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting relevant correspondence.

We assessed the susceptibility of the charitable company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
-making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
-considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
-performed analytical procedures to identify any unusual or unexpected relationships;
-reviewed nominal ledgers and tested journal entries reports to identify unusual transactions;
-assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
-agreeing financial statement disclosures to underlying supporting documentation;
-reading the minutes of meetings of those charged with governance;
-reviewing correspondence with HMRC.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Report of the Independent Auditors to the Members of
Bethshan Sheltered Housing Association


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 auditors' 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.




Thomas Landers BA FCA (Senior Statutory Auditor)
for and on behalf of Morgan Griffiths LLP
Chartered Accountants
Statutory Auditor
Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY

17 October 2024

Bethshan Sheltered Housing Association

Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
for the Year Ended 31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 16,324 - 16,324 16,014

Charitable activities 5
Nursing Home Care 2,383,074 - 2,383,074 2,022,576

Other trading activities 3 1,496 - 1,496 566
Investment income 4 9,039 - 9,039 4,939
Total 2,409,933 - 2,409,933 2,044,095

EXPENDITURE ON
Raising funds 6 1,633 - 1,633 392

Charitable activities 7
Nursing Home Care 2,579,543 - 2,579,543 2,226,737
Total 2,581,176 - 2,581,176 2,227,129

NET INCOME/(EXPENDITURE) (171,243 ) - (171,243 ) (183,034 )


RECONCILIATION OF FUNDS
Total funds brought forward 2,024,729 - 2,024,729 2,207,763

TOTAL FUNDS CARRIED FORWARD 1,853,486 - 1,853,486 2,024,729

Bethshan Sheltered Housing Association (Registered number: 03324634)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 14 1,393,699 1,359,385

CURRENT ASSETS
Stocks 15 340 232
Debtors 16 150,064 51,358
Cash at bank and in hand 417,632 694,926
568,036 746,516

CREDITORS
Amounts falling due within one year 17 (108,249 ) (81,172 )

NET CURRENT ASSETS 459,787 665,344

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,853,486

2,024,729

NET ASSETS 1,853,486 2,024,729
FUNDS 19
Unrestricted funds 1,853,486 2,024,729
TOTAL FUNDS 1,853,486 2,024,729

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 17 October 2024 and were signed on its behalf by:





L Allen - Trustee

Bethshan Sheltered Housing Association

Cash Flow Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 (167,802 ) (55,416 )
Net cash used in operating activities (167,802 ) (55,416 )

Cash flows from investing activities
Purchase of tangible fixed assets (118,531 ) (124,882 )
Interest received 9,039 4,939
Net cash used in investing activities (109,492 ) (119,943 )

Change in cash and cash equivalents
in the reporting period

(277,294

)

(175,359

)
Cash and cash equivalents at the
beginning of the reporting period

694,926

870,285
Cash and cash equivalents at the end
of the reporting period

417,632

694,926

Bethshan Sheltered Housing Association

Notes to the Cash Flow Statement
for the Year Ended 31 March 2024


1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING
ACTIVITIES
31.3.24 31.3.23
£    £   
Net expenditure for the reporting period (as per the Statement
of Financial Activities)

(171,243

)

(183,034

)
Adjustments for:
Depreciation charges 84,217 73,199
Interest received (9,039 ) (4,939 )
Increase in stocks (108 ) (232 )
(Increase)/decrease in debtors (98,706 ) 8,198
Increase in creditors 27,077 51,392
Net cash used in operations (167,802 ) (55,416 )


2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 694,926 (277,294 ) 417,632
694,926 (277,294 ) 417,632
Total 694,926 (277,294 ) 417,632

Bethshan Sheltered Housing Association

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Governance costs
Governance costs are those incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements.

Allocation and apportionment of costs
Support costs (excluding governance costs) have been apportioned to the activity -' Nursing Home care' in full. Governance costs have been apportioned to activities based on the apportionment of salary costs.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Freehold property - 2% on cost or valuation
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost and 15% on reducing balance

No depreciation is provided on freehold land.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Items donated for resale or distribution, are not included in the financial statements until they are sold or distributed. The trustee's believe that the costs involved in determining the value of stock held for distribution would outweigh the benefit to the users.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Bethshan Sheltered Housing Association

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


1. ACCOUNTING POLICIES - continued

Fund accounting

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES
31.3.24 31.3.23
£    £   
Donations 15,949 16,014
Gift aid 375 -
16,324 16,014

3. OTHER TRADING ACTIVITIES
31.3.24 31.3.23
£    £   
Trolley shop income 1,496 566

4. INVESTMENT INCOME
31.3.24 31.3.23
£    £   
Deposit account interest 9,039 4,939

5. INCOME FROM CHARITABLE ACTIVITIES
31.3.24 31.3.23
Activity £    £   
Fees Receivable Nursing Home Care 2,383,074 1,926,629
Grants Nursing Home Care - 95,947
2,383,074 2,022,576

Grants received, included in the above, are as follows:
31.3.24 31.3.23
£    £   
Covid Hardship Funding - SSP - 15,327
Welsh Assembly Government - 80,509
- 95,836

Bethshan Sheltered Housing Association

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. RAISING FUNDS

Other trading activities
31.3.24 31.3.23
£    £   
Purchases 1,633 392

7. CHARITABLE ACTIVITIES COSTS
Direct Support
Costs (see costs (see
note 8) note 9) Totals
£    £    £   
Nursing Home Care 2,551,022 28,521 2,579,543

8. DIRECT COSTS OF CHARITABLE ACTIVITIES
31.3.24 31.3.23
£    £   
Staff costs 1,954,820 1,661,527
Rates and water 8,753 8,436
Insurance 16,264 16,734
Light and heat 33,844 38,268
Sundries 7,386 9,024
Catering services 224,680 188,171
Incontinence supplies 47,258 48,725
Clinical waste 12,266 10,638
Medical supplies 3,735 3,667
Recruitment /training 6,909 11,541
Activities 5,195 4,719
Repairs & renewals 19,805 23,003
Service contracts & Call outs 75,493 69,577
Laundry & cleaning 40,067 35,489
Care Management subscription 13,503 5,552
Depreciation 81,044 69,424
2,551,022 2,204,495

9. SUPPORT COSTS
Governance
Management costs Totals
£    £    £   
Nursing Home Care 18,099 10,422 28,521

Bethshan Sheltered Housing Association

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. SUPPORT COSTS - continued

Support costs, included in the above, are as follows:

Management
31.3.24 31.3.23
Nursing Total
Home Care activities
£    £   
Telephone 1,882 1,932
Postage and stationery 4,023 3,981
Advertising 1,082 1,690
Subscriptions 2,090 1,107
Motor, travel & other expenses 937 588
Professional fees 4,263 1,045
Bank charges & interest 649 507
Depreciation of tangible assets 3,173 3,775
18,099 14,625
Governance costs
31.3.24 31.3.23
Nursing Total
Home Care activities
£    £   
Wages 7,422 4,617
Auditors' remuneration 3,000 3,000
10,422 7,617

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.24 31.3.23
£    £   
Auditors' remuneration 3,000 3,000
Depreciation - owned assets 84,217 73,198

11. TRUSTEES' REMUNERATION AND BENEFITS

The remuneration paid to Mr. L Allen for the year ended 31st March 2024 amounted to £7,422 and is included in governance wages.

The remuneration paid to Mr. Roy Tappin for the year ended 31st March 2023 amounted to £11,094. In 2023 £4,617 was included in governance wages. Mr Tappin ceased as a trustee on 23/11/2022.

Bethshan Sheltered Housing Association

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


11. TRUSTEES' REMUNERATION AND BENEFITS - continued

Trustees' expenses

No trustee expenses were paid in the year (2023 one trustee £33).

12. STAFF COSTS
31.3.24 31.3.23
£    £   
Wages and salaries 1,841,428 1,536,116
Social security costs 96,667 104,636
Other pension costs 24,147 25,392
1,962,242 1,666,144

The average monthly number of employees during the year was as follows:

31.3.24 31.3.23
Home Management 4 3
Qualified 9 7
Care Assistants 24 27
Auxiliary 6 5
43 42

No employees received emoluments in excess of £60,000.

The average number of employees has been calculated as full time equivalents.

The charity considers its key management personnel comprise the senior management listed on page 1. The total employment benefits including employer pension contributions of the key management personnel for their management roles for the year ended 31 March 2024 were £97,401 (2023 £91,494).

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 16,014 - 16,014

Charitable activities
Nursing Home Care 1,942,067 80,509 2,022,576

Other trading activities 566 - 566
Investment income 4,939 - 4,939
Total 1,963,586 80,509 2,044,095

EXPENDITURE ON
Raising funds 392 - 392

Charitable activities
Nursing Home Care 2,146,228 80,509 2,226,737

Bethshan Sheltered Housing Association

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds funds funds
£    £    £   
Total 2,146,620 80,509 2,227,129

NET INCOME/(EXPENDITURE) (183,034 ) - (183,034 )


RECONCILIATION OF FUNDS
Total funds brought forward 2,207,763 - 2,207,763

TOTAL FUNDS CARRIED FORWARD 2,024,729 - 2,024,729

14. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 1,809,350 143,079 164,837 25,810 2,143,076
Additions 15,429 27,295 72,211 3,596 118,531
Disposals (182,411 ) (27,560 ) - (14,370 ) (224,341 )
Reclassification - (15,522 ) 15,522 - -
At 31 March 2024 1,642,368 127,292 252,570 15,036 2,037,266
DEPRECIATION
At 1 April 2023 600,777 64,205 96,661 22,048 783,691
Charge for year 38,865 18,828 23,351 3,173 84,217
Eliminated on disposal (182,411 ) (27,560 ) - (14,370 ) (224,341 )
Reclassification/transfer - (480 ) 480 - -
At 31 March 2024 457,231 54,993 120,492 10,851 643,567
NET BOOK VALUE
At 31 March 2024 1,185,137 72,299 132,078 4,185 1,393,699
At 31 March 2023 1,208,573 78,874 68,176 3,762 1,359,385

Included in cost or valuation of land and buildings is freehold land of £200,000 (2023 - £200,000) which is not depreciated.


Bethshan Sheltered Housing Association

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


15. STOCKS
31.3.24 31.3.23
£    £   
Stocks 340 232

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 81,757 46,456
Other debtors 68,307 4,902
150,064 51,358

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 58,497 60,531
Other creditors 45,089 -
Accruals and deferred income 4,663 20,641
108,249 81,172

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS
31.3.24 31.3.23
Unrestricted Restricted Total Total
funds funds funds funds
£    £    £    £   
Fixed assets 1,393,699 - 1,393,699 1,359,385
Current assets 568,036 - 568,036 746,516
Current liabilities (108,249 ) - (108,249 ) (81,172 )
1,853,486 - 1,853,486 2,024,729

19. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 2,024,729 (171,243 ) 1,853,486

TOTAL FUNDS 2,024,729 (171,243 ) 1,853,486

Bethshan Sheltered Housing Association

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


19. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 2,409,933 (2,581,176 ) (171,243 )

TOTAL FUNDS 2,409,933 (2,581,176 ) (171,243 )


Comparatives for movement in funds

Net
movement At
At 1.4.22 in funds 31.3.23
£    £    £   
Unrestricted funds
General fund 2,207,763 (183,034 ) 2,024,729

TOTAL FUNDS 2,207,763 (183,034 ) 2,024,729

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 1,963,586 (2,146,620 ) (183,034 )

Restricted funds
Welsh Govt social care worker grant 80,509 (80,509 ) -

TOTAL FUNDS 2,044,095 (2,227,129 ) (183,034 )

20. EMPLOYEE BENEFIT OBLIGATIONS

During the year the charity made pension contributions amounting to £24,147 (2023 £25,392). There were no amounts outstanding at the year end.


Bethshan Sheltered Housing Association

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


21. RELATED PARTY DISCLOSURES

During this year Hope Church (Newtown) provided chaplaincy services amounting to £1,307 (2023 £1,710). No amounts were outstanding at the year end (2023 nil). Hope Church (Newtown) has directors/trustees in common.

During the 2023 year end Mr. M Cade was reimbursed for IT equipment purchased on behalf of the charity amounting to £1,287. Mr. M Cade is the spouse of Mrs D Cade who is part of the senior management team.