The year to 30 September 2007 saw a 6.6% growth in operational expenditure to £12.2m and an investment in additional care assets of £1.3m. All this was achieved whilst generating net incoming resources of £412,000 (before investment gains and losses).
Key features of the financial performance include:
• A 9% growth in fundraised income (excluding capital income) including a 21% increase in legacy income.
• Strong income flows from care homes despite the increasing age and frailty of residents which leads inexorably to a higher number of deaths in the year.
• A growth in expenditure on the number and training of staff to meet the increasing needs of residents and older people supported in their own homes.
• Completion within budget of the Bradbury Centre in Woking at a total cost of £1.4m.
• Reserves equivalent to 3.3 months expenditure.
This financial review uses information taken from the full Financial Statements for the year ended 30 September 2007, prepared in accordance with the Companies Acts 1985, the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” 2005 and applicable accounting standards and which received an unqualified audit opinion. The full Report and Financial Statements were approved by members of the Governing Council on 17 January 2008 and have been submitted to the Charity Commission and the Registrar of Companies.
This financial review uses information taken from the full Financial Statements for the year ended 30 September 2006, prepared in accordance with the Companies Acts 1985, the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” 2005 and applicable accounting standards and which received an unqualified audit opinion. The full Report and Financial Statements were approved by members of the Governing Council on 17 January 2007 and have been submitted to the Charity Commission and the Registrar of Companies.
This financial review uses information taken from the full Financial Statements for the year ended 30 September 2005, prepared in accordance with the Companies Acts 1985, the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” 2000 and applicable accounting standards and which received an unqualified audit opinion. The full Report and Financial Statements were approved by members of the Governing Council on 19 January 2006 and have been submitted to the Charity Commission and the Registrar of Companies.