The Trustees present their annual report and financial statements for the year ended 31 March 2025.
The accounts have been prepared in accordance with the accounting policies set out in note to the accounts and comply with the Charity's governing document, the Companies Act 2006 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)”
Libury Hall
Libury Hall is a residential care home and is situated near the village of Great Munden in what is considered to be a beautiful part of the Hertfordshire countryside. The home consists of one large house, four cottages, Schorr House Cottage, 4 individual Courtyard flats and an activities centre (known as the Day Centre). It provides residential accommodation for 40 adults of both sexes. 17 of the residents live in the main house. The Cottages and Courtyard provide 20 residents with a greater degree of independence. Schorr House Cottage provides intensive 1-1 support 24 hours a day for 2 residents currently.
Purpose
A fundamental component part of Libury Hall’s constitution is the provision of care and shelter for people with mental health issues and learning difficulties. This is delivered through the auspices of an original Declaration of Trust, which states “the land and buildings belonging to the Charity are used for the aged or mentally infirm of both sexes.” It is achieved through the good governance of Libury Hall’s trustees, its management team and staff.
Mission statement
The ethos of Libury Hall is best summed up in its Mission Statement.
“Libury Hall believes in people; that every individual has a right to be heard with dignity, to receive optimum care and encouragement to achieve individual goals.”
Public benefit
We have referred to the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Funding
The main source of funding for Libury Hall is residents’ fees paid by the local authority, and NHS, in Hertfordshire. Other residents’ fees are paid by other, out of county, local authorities and self-funding residents.
A busy and demanding year for Libury Hall has provided many achievements.
Digital platforms improvements within the accounting system payroll have taken place, resulting in a streamlined effective system with digital payslips. All staff have access to computers with own their own access points.
Development of staff: Several staff have started Level 5 in management along with level 2 and 3 in Health and Social Care.
Day Centre: Continue to expand the range of outings and help explore the residents’ interests outside the home. Several residents have been to concerts in London. Several residents have had holidays in Rutland and Suffolk. Art Galleries are still very popular to visit along with the Tower of London. Several football matches have been enjoyed around the country.
Cooking to help with Daily living skills continue. Three new pets have been encouraged to be bought in to the Day Centre for residents to take responsibility to care and support the welfare of their pets- residents are enjoying this activity.
The Kitchen achieved 5-star rating for another year.
Several personalised goals have been achieved regarding the residents in the form of shopping and cooking skills along with healthy choices and looking after their health. This builds foundations for their continued success in daily living skills coupled with overall well-being.
The local school continues to visit weekly with about 15 students to interact with residents, playing board games, listening to past lives and generally enjoying the social occasion.
Training and development
A clear and concise policy for training and development of all staff is now in place.
Review of financial position
Total income in the year amounted to £2,194,607. The net movement in funds for the financial year, after investment revaluations, was a loss of £16,413. Grants were received of £Nil for the year. Investment Income: £179.
Reserves policy
The Trustees aim to achieve a level of reserves (excluding tangible assets) to cover at least 1.5 months' running expenses. The situation is kept under regular review.
Investment policy
The Investment Managers aim to produce sufficient growth to match or better inflation rates and to produce income to make possible structural or other major repairs. The Trustees review performance on a regular basis and discuss results with the investment manager. The Trustees are satisfied with the current performance of investments.
Risk management
The Trustees and Director have constructed a Risk Register that identifies the various levels of major risk faced by the Charity and the mitigating factors that control or reduce the level of risk in respective areas. A comprehensive monitoring and review process is in place to identify any new risks and implement any actions required. An action plan is devised to address any concerns and the plan is reviewed annually at the AGM or before if required.
The following is a summary of the principal risks and uncertainties facing the Charity, as identified by the Trustees, together with their plans and strategies for managing those risks:
Risk 1: Libury Hall loses its status as a registered home through failure to comply with necessary standards of care and operation. The Charity is regulated by CQC and has annual inspections by the local authority. The Trustees review reports and ensure any shortcomings are addressed as a matter of urgency. Robust monitoring and governance are in place with regular meetings of / visits from the Trustees.
Risk 2: Libury Hall is not able to maintain a sufficient income stream to perform activities. The financial situation is monitored through monthly management accounts, prepared by the internal Finance Manager and reviewed monthly by the Trustees. More analysis is now provided every quarter by the Financial Manager.
Risk 3: Libury Hall does not comply with health and safety regulations thus risking harm to (or death of) a resident, member of staff or a visitor and / or financial or other penalties. Regular risk assessments are performed, including risk assessments for individual residents. Staff awareness on health and safety
Future planning
Planning for the future is an ongoing exercise and covers every aspect of Libury Hall. Financially, operationally and professionally, the Management Team are focused on maintaining current standards of excellence and making improvements wherever necessary.
Governing document and constitution
Libury Hall is a company limited by guarantee and not having a share capital, incorporated on 11 June 2013 and registered as a charity on 1 July 2013.
The Charity was established under a memorandum of association, which established the objects and powers of the Charity, and it is governed by its articles of association.
The Trustees
The Trustees, who are also the directors for the purpose of company law, and who served during the year were:
Recruitment and appointment of trustees
The Trustees shall consist of at least three persons who are individuals over the age of 18 all of whom must be members, support the objects and have signed a written declaration of willingness to act as a charity trustee of the Charity.
The Trustees may at any time co-opt any individual who is eligible under Article 5.3 as a trustee to fill a vacancy in their number or as an additional trustee, but a co-opted trustee holds office only for one year. A retiring trustee who is eligible under Article 5.3 may be reappointed. A quorum at a meeting of the Trustees may be fixed by the Trustees and unless so fixed shall be two trustees.
None of the Trustees has any beneficial interest in the Charity. All of the Trustees are members of the Charity and guarantee to contribute £1 in the event of a winding up.
Management team
Mrs Smith is the CEO of Libury Hall to lead the change needed with the strategic development of the business. Mrs Smith has been employed at the home since the year 2000. Before her appointment to CEO in 2014 she was the Registered Manager.
Mr Lloyd Graver was appointed Manager November 2024 (Deputy Manager 1st July 2018-24) reporting to the Trustees /CEO.
Ms George Clapton was appointed Deputy Manager November 2024 (previously a Team Leader (2020-24)
Supporting the Registered Manager in all aspects of the day to day running of the home.
How decisions are made
Trustees exercise leadership by setting priorities towards strategic issues. The Trustees meet regularly with the Director to discuss strategic issues. Day to day operational management of the home is dealt with by the Registered Manager overseen by the Director and Trustees.
Induction and training of trustees
Training and induction will accord with NCVO guidelines.
Trustees seek ways to improve board effectiveness by updating and reviewing their training on an annual basis. Several Trustees completed training days over the year covering a variety of topics: Mental Capacity Act, Deprivation of Liberty, Governance Responsibilities of Charitable Trustees.
Remuneration policy
Pay and remuneration for the Charity's key management personnel is discussed and approved at the AGM by the Trustees. National Industry information is available for benchmarks and parameters.
Acknowledgements
The Trustees wish to express their grateful thanks to Angela Smith for her effective management and commitment to the home. They also wish to express their appreciation for the hard work and dedication of the Manager and the staff throughout the year.
In accordance with the company's articles, a resolution proposing that Moore NHC Audit Limited be reappointed as auditor of the company will be put at a General Meeting.
The Trustees' report was approved by the Board of Trustees.
The Trustees, who are also the directors of Libury Hall 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.
Opinion
We have audited the financial statements of Libury Hall (‘the Charity’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the 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, 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:
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.
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 is responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
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.
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.
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.
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.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Libury Hall is a private company limited by guarantee incorporated in England and Wales. The registered office is , Great Munden, Near Ware, Hertfordshire, SG11 1JD.
The financial statements have been prepared in accordance with the Charity's memorandum and articles of association, the Companies Act 2006 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)". 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 accounts have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
At the time of approving the accounts, 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 accounts.
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
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.
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.
Residents' fees are accounted for when receivable.
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.
As the charity is not registered for VAT, all expenditure includes VAT and is recorded on an accruals basis. Charitable expenditure is expenditure incurred in running the home and includes governance costs.
Governance costs are those costs associated with the governance arrangements of the charity, and these include audit, legal advice for trustees, costs associated with trustee meetings and the cost of the preparation of the statutory accounts.
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:
Freehold land and assets in the course of construction are not depreciated.
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.
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.
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).
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
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.
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.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred.
None of the trustees (or any persons connected with them) received any remuneration during the year and none of the trustees were reimbursed any expenses (2024 - no Trustee received remuneration or was reimbursed).
The average monthly number of employees during the year was:
The remuneration of key management personnel was as follows:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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 restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
The Amenity fund represents money received from fundraising on behalf of residents and is managed for the general benefit of all residents at the home.
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.
The designated fund represents the net book value of the charity's tangible fixed assets.
During the year, the charity was charged fees £Nil (2023 - £332) by Chapelfarm Consultants Limited relating to the ongoing development and maintenance of the charity’s properties. All of the fees have been charged to the statement of financial activities and are inclusive of irrecoverable VAT.
Subsequent to the year end, the charity entered into and commenced major refurbishment works to its freehold property with Chapelfarm Consultants Ltd. The cost of the works is expected to be approximately £292,000.
The Charity had no material debt during the year.