Charity Registration No. SC045944 (Scotland)
Company Registration No. SC512066 (Scotland)
ST FRANCIS CARE HOME
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
ST FRANCIS CARE HOME
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Sister Valerie Anne Taylor
Sister Eugenie Roddy
Sister Patricia Jordan
Sister Lisette Prele
Sister Dorothy Black
(Appointed 22 July 2024)
Secretary
McSparran McCormick
Charity number
SC045944
Company number
SC512066
Principal address
54 Merryland Street
Govan
Glasgow
G51 2QE
Registered office
McSparran McCormick
19 Waterloo Street
Glasgow
G2 6AH
Auditor
Stirling Toner Ltd
2nd Floor, Millworks
Field Road
Glasgow
G76 8SE
Bankers
Royal Bank of Scotland
2139 Paisley Road West
Glasgow
G52 3JW
Key Management Personell
Sister Lisette Prele - Home Manager
Margaret Prele - Administrator
Board of Management
Frank Walker (Chair)
Sister Irene Rudzinski
Dr Angela Campell
Brian Padaruth
ST FRANCIS CARE HOME
CONTENTS
Page
Trustees' report
1 - 3
Independent auditor's report
4 - 7
Statement of financial activities
8
Balance sheet
9
Statement of cash flows
10
Notes to the financial statements
11 - 20
ST FRANCIS CARE HOME
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 JULY 2024
- 1 -

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their annual report and financial statements for the year ended 31 July 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's articles of association and its accompanying guidance notes, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) " (effective 1 January 2019 ).

 

 

Objectives and activities

The charity's objects are to operate as a Care Home in Govan, Glasgow under the patronage of the Franciscan Sisters Minoresses and the provision of care for those in need by reason of age, ill health or disability. The home has a capacity at 40 rooms, all providing en-suite facilities.

Since opening, the Home has been a source of great comfort to thousands of patients and their families. The Care Home is embedded in the finest traditions of the Catholic Faith and since its foundation it has been, and remains, open to all in need of care regardless of race, gender, religion, or diagnosis ensuring that no individual is ever excluded.

The Home continues to do everything possible to ensure the best resources are available for both the present and the future to support the continuing care of patients and their families.

 

 

 

Public benefit

The Trustees have paid due regard to guidance issued by OSCR in deciding what activities the charity should undertake.

Achievements and performance
Significant activities and achievements against objectives

The Trustees are pleased with the continued progress of the charity. The charity operations are regulated by the Care Inspectorate.

Trade was transferred on 1 August 2018 from St Francis Nursing Home. St Francis Nursing Home retains the property which is occupied by St Francis Care Home free of charge.

Financial review

During the financial year the charity was solvent at all times: that is, with adequate reserves and assets to meet all liabilities of which the Trustees were aware. This was due to prudent financial planning and proactive steps undertaken to meet the financial challenges arising from the pandemic and reduction in fee income. We remain committed to continuous improvement to ensure the Care Home continues to excel. The Trustees accordingly consider the projections for 2024/25 remain fair allowing the organisation to deliver activities in line with its aims and objectives and continue to meet its liabilities are they fall due.

 

The home has implemented a new accounting system to allow better and more timely reporting of financial performance. This will be measured against budgets being prepared by the board of management

Going concern

The Trustees have reviewed the charity's cash flow forecast for the next 12 months and, based on cost savings and planning to increase future fees, they believe the organisation can meet their liabilities as they fall due since the year end. The Trustees are therefore confident that the Care Home is a going concern.

ST FRANCIS CARE HOME
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
Reserves policy

The Trustees have agreed reserves will be maintained as cash until a level of unrestricted reserves is equivalent to 3-6 months of running costs. The level of general reserves as at 31 July 2024 was £434,473.

 

 

 

Major risks
The Trustees are in the process of assessing the major risks to which the charity is exposed, and will ensure that systems are in place to mitigate exposure to the major risks.
Structure, governance and management

The charity is a company limited by guarantee. The company was incorporated on 31 July 2015. It took over the trading activities of St Francis Nursing Home on 1 August 2018. Its governing document is the Memorandum and Articles of Association.

 

Governance – The Trustees are responsible for the strategic direction of the organisation, setting the annual budget, employment policies, health and safety etc.

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:

Sister Valerie Anne Taylor
Sister Eugenie Roddy
Sister Patricia Jordan
Sister Lisette Prele
Sister Margaret McDermott
(Resigned 28 June 2024)
Sister Dorothy Black
(Appointed 22 July 2024)
Recruitment and appointment of trustees

None of the Trustees has any beneficial interest in the company. All of the New trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

 

The Trustees, who are Directors of the Company for the purposes of Company Law, are appointed by the Members of the Company. Directors are appointed based on their qualifications, skills and experience and the Board. Induction ensures all new Board Members and Trustees are informed of the Home's strategy, activities and objectives. As part of the governance review formal Director Induction will be established to ensure the Role of the Charity Trustee and Code of Conduct is in place for Board Directors.

 

Organisational structure

Management - Operational management is delegated by the Trustees to a Board of Management. Two of the Trustees sit on this Board, as well as members with financial and healthcare expertise, along with the manager of the Home.

 

Quality Assurance – The Care Home has all relevant insurance including buildings, contents, employer’s liability and Directors Indemnity insurance The Care Home is contracted with Peninsula to provide the charity with professional support and advice on employment and human resources matters. This has the effect that providing the charity has taken the advice of Peninsula as external professional advisors, in the event that any dispute proceeds to an employment tribunal, the Care Homes insurers meet all costs and any payment that might be awarded to an aggrieved litigant.

 

The Trustees are responsible for monitoring the charity’s systems for internal financial controls. The system of controls aims to give the Trustees reasonable assurance that issues are identified as they arise and are dealt with appropriately in an effective and timely manner.

 

ST FRANCIS CARE HOME
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
Auditor
Stirling Toner Ltd will be resigning as auditors and a new auditor will be appointed in the coming months.

The Trustees, who are also the directors of St Francis Care Home 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 charity 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 2019 (FRS 102);

 

- 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 Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and 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.

 

In so far as the trustees are aware:-

- There is no relevant audit information of which the charity's auditor is unaware and

- we have taken all the steps that we ought to have taken as trustees in order to make ourselves aware of any audit information and to establish that the charity's auditor is aware of that information.

Inappropriate use of funds

During the year it was discovered that the charity had been subject to instances of the inappropriate use of funds by an employee. This has been reported to the charities regulator, OSCR, as well as the police. As this is currently under police investigation further elaboration at this time is not possible. We would however say that this has been a shock to everyone at the Care Home but has resulted in significant changes to our book-keeping structure.

The Trustees' report was approved by the Board of Trustees.

Sister Patricia Jordan
Trustee
7 April 2025
ST FRANCIS CARE HOME
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF ST FRANCIS CARE HOME
- 4 -

Opinion

We have audited the financial statements of St Francis Care Home (the ‘charitable company’) for the year ended 31 July 2024 which comprise the Statement of Financial Activities, Balance Sheet  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 July 2024, and of 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, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 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 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.

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 charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

ST FRANCIS CARE HOME
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ST FRANCIS CARE HOME
- 5 -

Other information

The other information comprises the information included in the trustees 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 the audit:

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

- The directors’ report included within the trustees’ report 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 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 and the Charities Accounts (Scotland) Regulations 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 directors’ remuneration specified by law are not made; or

 

we have not received all the information and explanations we require for our audit; and

 

-

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 directors’ report and from the requirement to prepare a strategic report.

 

ST FRANCIS CARE HOME
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ST FRANCIS CARE HOME
- 6 -
Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement (set out on page 3), 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.

 

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts.

 

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.

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures response to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identify and assessing the risks or material misstatements in respect of irregularities, including fraud and non-compliance with laws and regulations we considered the following:-

Based on our understanding of the charitable company and the sector in which it operates, we identified that the principal risks of non compliance with laws and regulations rated to, but were not limited to:-

We considered the extent to which non-compliance might have a material impact on the financial statements. We also considered those laws and regulations which have a direct impact on the preparation of the financial statements, such as the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, and the Charities Accounts (Scotland) Regulations 2006. We evaluated management and trustees’ incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of management override of controls), and determined that the principle risk was related to:-

ST FRANCIS CARE HOME
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ST FRANCIS CARE HOME
- 7 -

 

 

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/Our-work/audit/audit-and-assurance/standards-and-guidance/standards-and-guidance-for-auditors/auditors-responsibilites-for-audit/description-of-auditors-responsibilities-for-audit.aspx. 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, and to the charitable company’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006.

Gerard Crampsey (Senior Statutory Auditor)
For and behalf of Stirling Toner Ltd
Chartered Accountants
Statutory Auditor
2nd Floor, Millworks
Field Road, Glasgow, G76 8SE
7 April 2025

Stirling Toner Ltd is eligible to act as auditor in terms of section 1212 of the Companies Act 2006.

 

ST FRANCIS CARE HOME
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2024
- 8 -
Unrestricted
Restricted
Total
Unrestricted
funds
funds
funds
2024
2024
2024
2023
Notes
£
£
£
£
Income and endowments from:
Donations and legacies
3
74,605
4,626
79,231
107,917
Charitable activities
4
2,055,000
-
2,055,000
1,950,418

Investments

5
1,245
-
1,245
226
Other income
6
8,291
-
8,291
-
Total income
2,139,141
4,626
2,143,767
2,058,561
Expenditure on:
Charitable activities
7
2,120,673
-
2,120,673
1,989,642
Net income for the year/
Net movement in funds
18,468
4,626
23,094
68,919
Total funds brought forward
411,379
-
411,379
342,460
Fund balances at 31 July
429,847
4,626
434,473
411,379

The statement of financial activities includes all gains and losses recognised in the year.

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.
ST FRANCIS CARE HOME
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
143,405
169,622
Current assets
Debtors
14
132,864
368,035
Cash at bank and in hand
345,341
38,077
478,205
406,112
Creditors: amounts falling due within one year
15
(187,137)
(164,355)
Net current assets
291,068
241,757
Total assets less current liabilities
434,473
411,379
The funds of the charity
Restricted funds
17
4,626
-
General unrestricted funds
15
(164,334)
(182,802)
Capital reserve - Unrestricted
594,181
594,181
429,847
411,379
434,473
411,379

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2024.

The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The financial statements were approved by the Trustees on 7 April 2025
Sister Patricia Jordan
Trustee
Company Registration No. SC512066
ST FRANCIS CARE HOME
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2024
- 10 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
24
311,064
(56,277)
Investing activities
Purchase of tangible fixed assets
(27,755)
(35,432)
Proceeds on disposal of tangible fixed assets
22,710
-
Investment income received
1,246
226
Net cash used in investing activities
(3,799)
(35,206)
Net cash used in financing activities
-
-
Net increase/(decrease) in cash and cash equivalents
307,265
(91,483)
Cash and cash equivalents at beginning of year
38,077
129,559
Cash and cash equivalents at end of year
345,341
38,077
ST FRANCIS CARE HOME
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 11 -
1
Accounting policies
Charity information

St Francis Care Home is a private company limited by guarantee incorporated in Scotland. The registered office is McSparran McCormack, 19 Waterloo Street, Glasgow G2 6AH

 

1.1
Accounting convention

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 freehold properties and to include investment properties and certain financial instruments at fair value. These accounts have been prepared to supersede accounts previously submitted for the same period. 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.

1.3
Charitable funds

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

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.

 

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.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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.
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 is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

ST FRANCIS CARE HOME
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 12 -
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:

Plant and equipment
20% SL
Fixtures and fittings
10% SL
Computers
20% SL
Motor vehicles
25% on reduced 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
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).

1.8
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.

1.9
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.

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.

ST FRANCIS CARE HOME
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 13 -
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.

1.10
Taxation

The charity is exempt from tax on its charitable activities.

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.

ST FRANCIS CARE HOME
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 14 -
3
Donations and legacies
Unrestricted
Restricted
Total
Unrestricted
funds
funds
funds
2024
2024
2024
2023
£
£
£
£
Donations
74,605
-
74,605
106,833
Government grant income
-
4,626
4,626
1,084
74,605
4,626
79,231
107,917
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Charitable Income
2,055,000
1,950,418
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
1,245
226
6
Other income
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Net gain on disposal of tangible fixed assets
8,291
-
ST FRANCIS CARE HOME
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 15 -
7
Charitable activities

Charitable Expenditure

Charitable Expenditure

2024
2023
£
£
Staff costs
1,559,085
1,432,547
Depreciation and impairment
39,553
38,091
Motor & Travel exps
1,301
4,149
Rates & water, Insurance
28,097
25,449
Exceptional Items (Note 23)
74,063
-
Light & Heat
80,619
54,238
Telephone
24,763
17,145
Postage & stationery
6,274
6,279
Repairs & Renewals
42,088
50,352
Sundries
18,767
12,105
Catering & housekeeping, Uniforms
103,782
238,950
Bad debts
35,535
-
Course & Training
7,574
15,032
Cleaning & Laundry
30,788
35,733
Donations
788
800
Bank charges
3,489
2,410
Computer exps
23,849
11,209
2,080,415
1,944,489
Legal, professional and accountancy fees
32,970
36,675
Audit fee
6,525
5,200
Other interest payable
763
3,278
2,120,673
1,989,642
8
Legal, professional and accountancy fees

Charitable Expenditure

Charitable Expenditure

2024
2023
£
£
Legal, professional and accountancy fees
Legal & professional
21,038
20,655
Accountancy fees
11,932
16,020
32,970
36,675
-
ST FRANCIS CARE HOME
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 16 -
9
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
39,554
38,092
Profit on disposal of tangible fixed assets
(8,291)
-
10
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Total
68
73
Employment costs
2024
2023
£
£
Wages and salaries
1,426,242
1,317,440
Social security costs
108,944
92,524
Other pension costs
23,899
22,583
1,559,085
1,432,547
There were no employees whose annual remuneration was more than £60,000.

 

                                                                                                                                                                                                               2024                                  2023

 

Key management personnel remuneration         97,437                           94,832

 

 

 

 

 

 

11
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

ST FRANCIS CARE HOME
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 17 -
12
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 August 2023
54,725
224,189
-
3,045
281,959
Additions
-
3,607
6,596
17,552
27,755
Disposals
-
(15,308)
-
(3,045)
(18,353)
At 31 July 2024
54,725
212,488
6,596
17,552
291,361
Depreciation and impairment
At 1 August 2023
29,247
80,686
-
2,403
112,336
Depreciation charged in the year
10,945
22,902
1,319
4,388
39,554
Eliminated in respect of disposals
-
(1,531)
-
(2,403)
(3,934)
At 31 July 2024
40,192
102,057
1,319
4,388
147,956
Carrying amount
At 31 July 2024
14,533
110,431
5,277
13,164
143,405
At 31 July 2023
25,477
143,502
-
643
169,622
13
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
71,387
252,900
Carrying amount of financial liabilities
Measured at amortised cost
141,397
84,885
14
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
71,387
252,900
Prepayments and accrued income
61,477
115,135
132,864
368,035
ST FRANCIS CARE HOME
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 18 -
15
Creditors: amounts falling due within one year
2024
2023
£
£
Other taxation and social security
45,740
79,470
Trade creditors
23,206
10,433
Other creditors
24,330
12,202
Accruals and deferred income
93,861
62,250
187,137
164,355
16
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
23,899
22,583

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.

17
Restricted funds

The restricted funds of the charity includes a grant of £4,626. The funds will be used to partially fund renewal costs for a lift.

At 1 August 2023
Incoming resources
At 31 July 2024
£
£
£
-
4,626
4,626
18
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 July 2024:
Tangible assets
143,405
-
143,405
Current assets/(liabilities)
286,442
4,626
291,068
429,847
4,626
434,473
ST FRANCIS CARE HOME
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
18
Analysis of net assets between funds
(Continued)
- 19 -
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 July 2023:
Tangible assets
169,622
-
169,622
Current assets/(liabilities)
241,757
-
241,757
411,379
-
411,379
19
Unrestricted funds
Movement in funds
Movement in funds
Balance at
1 August 2022
Net Movement in the year
Balance at
1 August 2023
Incoming Resources
Resources expended
Balance at
31 July 2024
£
£
£
£
£
£
Unrestricted reserves
(251,721)
68,919
(182,802)
2,139,141
(2,120,673)
(164,334)
251,721
68,919
(182,802)
2,139,141
(2,120,673)
(164,334)
20
Capital reserve

This consists of the net assets of the former St Francis Nursing Home taken over by St Francis Care Home, at 1 August 2018 and amounts received/paid in the year to 31 July 2020.

21
Related party transactions and trustee's remuneration

During the year to 31 July 2024 the Charity paid £11,932 (2023: £11,932) for accountancy services provided by F L Walker & Company Ltd. Frank Walker sits on the Board of Management of the charity and is also a director of F L Walker & Company Ltd. The services were provided at an arms length basis.

 

During the year to 31 July 2024, trustee Sister Lisette Prele, was employed by the charity as Care Home Manager and received total remuneration including gross pay, employer NIC and employer pension of £59,031 (2023: £55,059) for this role.

 

During the year to 31 July 2024, trustee Sister Lisette Prele's sister, Margaret Prele, was employed by the charity as Administrator and received total remuneration including gross pay, employer NIC and employer pension of £38,407 (2023: £39,773) for this role.

 

During the year to 31 July 2024, trustee Sister Lisette Prele's sister, Margaret Prele's Husband, Louis Cattaperman, was employed by the charity and received total remuneration including gross pay, employer NIC and employer pension of £32,561 (2023: £8,659) for this role.

 

ST FRANCIS CARE HOME
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 20 -
22
Impending Costs

The Care Home has received quotes in the region of £75k in respect of impending lift renewal costs (which will be required to be undertaken sooner rather than later). Grant of £4,626 received in the year will be utilized for this purpose.

23
Exceptional Item

2024        2023

Staff defalcation costs             74,063.30         -

 

24
Cash generated from/(absorbed by) operations
2024
2023
£
£
Surplus for the year
23,094
68,919
Adjustments for:
Investment income recognised in statement of financial activities
(1,245)
(226)
Gain on disposal of tangible fixed assets
(8,291)
-
Depreciation and impairment of tangible fixed assets
39,553
38,091
Movements in working capital:
Decrease/(increase) in debtors
235,171
(195,466)
Increase in creditors
22,782
32,405
Cash generated from/(absorbed by) operations
311,064
(56,277)
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