The Annual Accounts are presented to our AGM in September of each year and discussed and adopted by Trustees. Our Accounts are audited annually by Armstrong Watson (Chartered Accountants) of Hexham.
We have tried over the years to see that money received for our Charitable activities (the delivering of care) match all our general outgoings. Many of the pressures on Charlotte Straker are also faced by the care home sector as a whole in Northumberland. Balancing the books has become noticeably harder with margins being squeezed and rising costs.
2014/15 was a very difficult year however I am delighted to say that 2015/16 proved to be a much better year. The end of the year saw a surplus of £23,971 after an unrealised loss of £4,061 on investments. Fundraising and donations amounted to £87,672 (this figure is gross and before costs of £12,011). Occupancy improved considerably over the year with all rooms being eventually used for the care of long term residents. The trustees continue to be mindful of the current and uncertain economic climate when considering financial issues and are aware of the need to manage the overall financial performance of Charlotte Straker with great care.
We must also note that an important aspect of our work is ensuring our ethos is implemented – that care is given according to need and an inability to pay is not a bar to entry. This makes our Fundraising activities and financial results all the more important. It should be noted that Trustees are all volunteers and unpaid.
For the current year we have set a robust budget and at the time or writing (November 2016) we are working to that budget.
The accounts for the year ended 31st March 2016 are available to download on this page. A detailed description of the pressures we faced is given in the Trustee report.
Please download a copy of our most recent year’s accounts.
Please download a copy of our 2014/15 accounts.
The Charity operates a reserves policy as required by the Charity Commission. The Board of Trustees have agreed that we retain 6 months running costs as reserves, that the reserves situation is reviewed at each quarterly Finance Committee and that information is also forwarded to Board members quarterly. If we need to access the reserves we discuss and agree this at a Board meeting and agree to what degree we should reduce the reserves; we also monitor their reinstatement.