68 All Saints Home Annual Report
Hougang 5 Poh Huat Road Singapore 546703 Tel: 6282 6969 Fax: 6286 8157
Tampines 11 Tampines Street 44 Singapore 529123 Tel: 6788 2345 Fax: 6787 1588
Yishun 551 Yishun Ring Road Singapore 768681 Tel: 6351 1400 Fax: 6257 2264
Jurong East 20 Jurong East Avenue 1 Singapore 609792 www.allsaintshome.org.sg 360 CARE 1
360
CAREAll Saints Home Annual Report 2014 2 All Saints Home Annual Report
Contents
Vision and Mission 2
360 CARE 3
Chairman’s Message 6
CEO’s Message 8
Board of Directors 10
All Saints Home’s Board Committees 11
Management Team 12
CARE 14
A Peek into the Four Homes 22
Fundraising Events 26
It’s Playtime! 28
Volunteers In Action! 30
Statistics 32
Financial Statements 34 360 CARE 1
“Stand up in the presence of the aged, show respect for the elderly and revere your God...” Leviticus 19:32 2 All Saints Home Annual Report
Vision To be a shining testimony of God’s great love and compassion in eldercare
Mission We provide quality care, bring joy and comfort, and honour the dignity of residents in a caring Christian environment 360 CARE 3
360 CARE
We envision All Saints Home to be a place filled with love, a home where our residents can celebrate life and live the last lap of their journey with vitality, knowing that they are genuinely cared for by the people around them. This is our goal. With the positive spirit and infectious enthusiasm from our nurses, staff, volunteers, management team and the Board of Directors, we are making big strides towards building a happy home.
We choose to believe the steady progress to turn this dream into reality is due to the rock solid 360 CARE culture embraced by all our stakeholders - residents and their loved ones, volunteers, sponsors, nurses, staff and the Board of Directors. In our respective roles, and in the way we interact, we display Compassion, Assurance, Respect and Excellence that are synonymous with the All Saints Home brand. The display of these core values from everyone at All Saints Home is what makes us unique, as we work together in harmony to be a shining testimony of God’s great love and compassion in eldercare. 4 All Saints Home Annual Report
Compassion In our care delivery and engagement with residents, colleagues and stakeholders, we do it with love that comes from our hearts. Our Core Values CARE Assurance In the way we operate and in our eldercare delivery, we do it with professionalism, where accountability is of utmost importance. 360 CARE 5
Respect In our daily interaction with residents, colleagues and stakeholders, we are respectful and honour their dignity.
CAREExcellence In all that we do, change is the only constant as we strive to continually raise the bar in our care delivery, operations, and management of finances and human resources. 6 All Saints Home Annual Report
Chairman’s Message 360 CARE 7
In the past 29 years, All Saints Home has and will continue On behalf of my fellow board members, I would like to to put the vision of honouring God’s great love and thank sponsors and donors for supporting our cause. compassion in our hearts as we share our core expertise With your generosity, we raised over S$780,000 in in eldercare, and positively impact the lives of people in 2014. These proceeds will go a long way in funding need. I am pleased that All Saints Home has made good our operations as we continue to widen the depth and headway in executing our expansion plans as we extend breadth of our eldercare services. We look forward to a helping hand to more elderly in Singapore. forging stronger partnerships with grassroots and other organisations to better serve the local communities. The Bible says, “You are to rise in the presence of the elderly and honour the old”. Regardless of race and social I would also like to thank the Founder of All Saints status, the commitment to our residents remains: To Home’s Volunteers Group, Mr Edmund Quek and his provide quality care, bring joy and comfort, and honour team for adding vibrancy and touching the hearts of our their dignity in a caring Christian environment. residents every week, rain or shine. Sincere appreciation also goes to many other volunteers from the community, As we strive to render the highest standards of churches, and various organisations who have given professional care, we also want to ensure that All Saints much of themselves to bless our residents and staff. Home remains a happy place for our staff to work in, and a conducive place for them to develop their careers. To the management team and staff, thank you for your We participated in the ILTC Excellence Awards by dedication and hard work. Let’s continue to put our best showcasing a project “Power to the People, Harnessing foot forward to be a shining testimony of God’s great love Electronic Human Resource” that highlighted our E-HR and compassion in eldercare. services available to staff. We have also been awarded the Bronze Award for the Singapore Health Award 2014, distinguishing All Saints Home as a caring employer who Mr Chua Hung Seng values employees’ health and well-being. Chairman 8 All Saints Home Annual Report
CEO’s Message 360 CARE 9
2014 was an exciting year for All Saints Home. The We have recently rejuvenated our core values – CARE - to management and staff displayed strong camaraderie as guide our nurses, administration and operations staff, we worked together as a team to prepare for the opening and the management team in their daily work. We aim of our new homes in Yishun and Jurong East, as well as to deliver the All Saints Home brand of care services, improve the services of our current homes at Tampines and engage our fellow colleagues with Compassion and and Hougang. love that come from our hearts. We want to give the Assurance to residents that they are well-taken care of Extending our reach by our team of skilled professionals, and gain the trust After months of hard work, All Saints Home (Yishun) of their family members and loved ones. Staff can also opened its door to the first resident on 23 March 2015. be assured that their welfare is of top priority to the All Saints Home (Jurong East) will follow closely and management. Regardless of backgrounds, we Respect commence operations in September 2015. By then, our one another, forge strong ties at All Saints Home and bed capacity will be doubled to 734 beds, compared to honour the dignity of our residents. Finally, we embrace one year ago. To support our expanded operations, staff changes for the better and continually raise the bar as we strength will grow from 300 at present, to about 500 in strive for Excellence in our care delivery, operations, as six months’ time. well as management of finances and human resources.
Our new home in Yishun reignites the kampong spirit in Raising the bar the neighbourhood. Its community garden encourages In the recent years, we have built a cohesive team who residents and volunteers to plant and harvest their are committed to meet, or even exceed the benchmark favourite fruits and vegetables, while its soup kitchen set by the Government’s Enhanced Nursing Home serves nutritious hot meals to the needy. We will Standards. Efforts will be channelled to continually continue to work closely with service partners around raise our standard of care, in clinical areas like pain Yishun to create a village for all ages. Our Jurong East and continence management, falls prevention and home, on the other hand, will have a dementia ward, mobility, skin care and oral hygiene, as well as advance and a therapeutic outdoor garden with lush greenery. care planning. We are also paying closer attention to At Tampines, we expanded our current day care and day the psychosocial well-being of our residents and their rehabilitation centre to a more comprehensive senior next-of-kin. Concurrently, to keep up with best practices, care centre in February 2015. The latter provides day internal operations and corporate governance will be services for clients with dementia and those who require continually strengthened. centre-based nursing care. Through these initiatives, we hope to extend our reach and share God’s love with more In conclusion, we want All Saints Home to be a happy elderly in different parts of Singapore. home for satisfied residents and their loved ones, for our motivated and cohesive team of employees, and for our Over the past 29 years, All Saints Home has built a steady volunteers who will continue to give with their hearts. track record in caring for the elderly. By God’s grace, we want to continue to extend our expertise and positively Saying thanks impact the lives of those in need. The team is energised On behalf of the Board of Directors, I would like to take to deliver the highest standards of professional eldercare this opportunity to welcome the new faces who have - with love, sincerity and purity. joined the growing All Saints Home family. Our sincere appreciation goes out to all staff and volunteers who Plans are underway for All Saints Home to spread our have contributed so much to make All Saints Home wings beyond residential, respite and day care into a beautiful place to live in, stay in and work in. Let’s homecare. By providing a complete range of home-based work hand in hand to deliver our care services whole- nursing care, we want our clients to be well taken care of, heartedly, with pride and professionalism. and age gracefully in the comfort of their own homes. We thank God for the opportunity to serve and be a Building a happy home shining testimony of his great love and compassion in Apart from raising the hardware of our capabilities, we eldercare. place equal emphasis in people development as we continue to explore ways to attract committed talents and better-qualified medical, nursing and other staff Dr Eugene Yeo to join us. What makes a happy home is more than just Chief Executive Officer the facilities, services and environs. Our staff delivering the service, residents receiving our care, and volunteers helping out at our homes should feel the love all around. 10 All Saints Home Annual Report
Board of Directors
Mr Chua Hung Seng Mr Sunny Tan Chuan Long Chairman Vice-Chairman
Dr Eugene Yeo Yew Jen Mr Ng Keok Boon Mr Tan Hua Joo Honorary Secretary Honorary Treasurer Vice-Honorary Treasurer
Mr Chua Hong Tong Mr Tan Huat Seng Mr Chua Lip Wei Mr Tan Chee Meng Board Director Board Director Board Director Board Director 360 CARE 11
All Saints Home’s Board Committees
Finance Chairman : Mr Ng Keok Boon Secretary : Ms Ko Hui Yun (Finance Manager) Members : Mr Tan Huat Seng Mr Tan Hua Joo
Human Resource Chairman : Mr Chua Hong Tong Secretary : Ms Chan Foong Yee (Human Resource Manager) Member : Mr Ng Keok Boon
Audit Chairman : Mr Keegan Lim Cher Chai
Facilities Chairman : Mr Sunny Tan Chuan Long Vice-Chairman : Mr Edward Kway Siak Hwee Secretary : Mr Richard Quah Boon Hock (Centre Director) Members : Mr Ho Soo Foo Mr Lee Shee Keong Mr Tan Way
Fundraising Chairman : Mr Tan Hua Joo Secretary : Ms Lianne Seah Li Yan (Corporate & Community Relations Manager) Members : Mr Jim Seah Boon Kwang Mr Tan Chee Meng Mr Chua Lip Wei Mr Gary Gan Hee Ann
Information Technology Chairman : Mr James Hung Kek Ing Vice Chairman : Mr Alex Lim Yak Tai Secretary : Mr Nelson Tan Siow Kuan (Assistant Information Technology Manager) Member : Mr Tan Huat Seng
Government-Appointed Medifund Committee
Chairman : Mr Gary Gan Hee Ann
Members : Dr Yeap Eng Hooi Ms Joanne Tay Soi Hoon Ms Tan Lai Suan Ms Julie Lim Joo Hiang Mr Jeremy Pang Boon Kiang Mr Tan Boon Hui 12 All Saints Home Annual Report
Management Team
3 1 2 5 7
4
6
CORPORATE CENTRES
Organisational Structure Board of Directors
Chief Executive Officer
Director, Director, Resident Finance Human Corporate Assistant Nursing Special Doctor Manager Resource & Community Information Projects Manager Relations Technology Manager Manager 360 CARE 13
1. Richard Quah Boon Hock Centre Director, Hougang & Yishun Homes 2. Philip Wong Toon Suan Centre Director, Tampines & Jurong East Homes
11 3. Dr Lee Yun Resident Doctor 9 4. Dr Eugene Yeo Yew Jen Chief Executive Officer 10 5. Nelson Tan Siow Kuan Assistant Information Technology Manager 6. Rosie Lim Hean Neo 12 Director, Special Projects 7. Chan Foong Yee 8 Human Resource Manager 8. Tan Lai Suan Director, Nursing CENTRES 9. Daniel Teh Seng Ping Assistant Chaplain 10. Lianne Seah Li Yan Corporate & Community Relations Manager 11. Alaris Wong Meiwen Personal Assistant, CEO Office 12. Ko Hui Yun Finance Manager
Centre Centre Director Director 14 All Saints Home Annual Report
CARE means...
“The nurses love me very much.” - Lim Jia Ying, Resident Compassion 360 CARE 15
“The staff, nurses and therapists are always ready to help us. They are caring and “We will all grow old one day. So my motto sensitive to our needs. When I encounter a has always been to treat others like how problem, there is the management team I want others to treat me. This is what and counsellors who will extend a helping drives me to deliver nursing care with love, hand. All Saints Home is a good home.” sincerity and empathy – always.” - Koh Siew Eng, Resident - Nan Aye Aye Maw, Senior Staff Nurse
“There is a resident who chit chats with nurses and prays for us each time we have a problem. She treats me like her own grandson and calls me ‘Apo’ - which means ‘grandchild’ in Tagalog.” - Mark Darwin De Vera, Nursing Aide
“Seeing the smiles and hearing residents say the three hours we spend with them every Saturday are the happiest hours of their week really touch my heart.” - Edmund Quek, Founder of Compassion All Saints Home’s Volunteers Group 16 All Saints Home Annual Report
“We want to provide wholesome care by paying attention to our residents’ psychological, physical, social, spiritual “I like to stay here. It’s good because and emotional well-being. We want to I can attend Chapel service every add vibrancy, lift their spirits, help them morning and pray.” be active and give them something to look forward to each day.” - Annie Goh, Resident - Tan Lai Suan, Director, Nursing
“The management is approachable and truly cares for the staff. Welfare is excellent. I am assured the management will help me if I face a problem. This is why I enjoy working at All Saints Home.” - Win Win Htay, Enrolled Nurse
“Our residents’ safety is of paramount importance. We must have the right attitude and passion and be prepared to give more than we receive. As we are dealing with people’s lives, we cannot afford to make mistakes because each of the residents we care for is somebody’s loved one. There is no room for second best.” Assurance - Rosie Lim, Director, Special Projects 360 CARE 17
CARE means...
“All Saints Home is a well-run home with a heart. I am assured my sister, Rose, is well taken care of. Should I decide to go on a short holiday, there is peace of mind.” - George Yeo, Assurance Family Member of a Resident 18 All Saints Home Annual Report
CARE means...
“To me, there is never a down moment with the residents. I am so blessed with the friendships and unconditional love they have showered on me. Whatever I have given as a volunteer is so little compared to what they have given me.” - Kamy Lim, Chairperson of Hougang Home’s Volunteers Group Respect 360 CARE 19
“The CEO and Centre Directors often roll up their sleeves and work alongside staff “I have made many good friends at to serve the residents. This strong display All Saints Home. Everyone knows me of servanthood reiterates the home’s as Mr Handsome!” commitment in eldercare.” - Tan Cheng Kok, Resident - John Lim, Senior Operations Executive
“There is a strong family culture within All Saints Home. My brother and I have made many good friends each time we visit our sister – with the residents, attendants, nurses, and the management team.” - May, Family Member of a Resident
“I was in my 20s when I joined All Saints Home. Over the years, I have grown old together with the residents and bonded with them like a family. The most endearing thing is some of them call me “Xiao Mei Mei” even until today and treat me like their own daughter. This brightens my day.” Respect - Naw Paw Ray, Senior Staff Nurse 20 All Saints Home Annual Report
“To continually improve, we need to fully understand what the left hand and right hand are doing. I place high emphasis on cross- functional interaction by holding bi-weekly meetings with middle managers from all departments. As a team, this is important so that we can move ahead and grow as one.” - Philip Wong, Centre Director
“The home has definitely done a lot to change for the better. The management has put in effort to beautify the environs. More caregivers are hired, and stronger systems are in place to ensure that residents are better taken care of.” - Rae Kwa, Chairperson of Tampines Home’s Volunteers Group
“It is very important to walk the ground daily to engage staff, residents and other stakeholders. We need to be open and continually build With my transfer to Yishun, I am stepping bridges with them. We need to be genuinely into the unknown with new residents and interested to want to make a difference in the new colleagues. But I am energised to meet lives of our elderly residents - by providing them the exciting challenges ahead.” with the quality and dignity of care”. - Joyal Onate, Nursing Aide - Richard Quah, Centre Director Excellence 360 CARE 21
CARE means...
“Language is a major barrier at work. I try my best to learn on the job and pick up different languages. Hopefully, I will be able to communicate more effectively with more non-English speaking residents soon.” Excellence- Shayne S. Pinos, Nursing Aide 22 All Saints Home Annual Report
A Peek into the Four Homes All Saints Home is firmly anchored on its mission: To provide quality care, bring joy and comfort, and honour the dignity of our residents in a caring Christian environment. From our four homes located in different parts of Singapore, we provide comprehensive and professional care services that are extended to elderly of all backgrounds.
Each of our four homes has its unique ambience, and offers distinct facilities and services, beyond residential care, respite care and day care.
Hougang Home Tampines Home
All Saints Home (Hougang) • Maintenance Day Care Our very first home which started in 1986, Provides supportive environment for frail and/ All Saints Home (Hougang) has developed into a or physically disabled elderly, and respite for their friendly kampong. caregivers. • 155 Beds • Dementia Day Care • Table Tennis Therapy which inspires residents to Helps clients suffering from dementia to address learn from the disabled. their cognitive impairment and behavioral symptoms, • Karaoke and Baking Sessions which encourage stimulate their mental capabilities and slow down the residents to socialise. deterioration of their physical and mental functions. • Community Rehabilitation All Saints Home (Tampines) Helps clients who are affected by a variety of All Saints Home (Tampines) is our largest nursing medical conditions to undergo occupational therapy home in terms of capacity and range of services. or physiotherapy so as to complement or complete • 202 beds their medical care. • Senior Care Centre • Centre-Based Nursing Care Provides integrated eldercare services including Provides basic nursing care required for clients with a maintenance day care, community dementia care, list of health problems. community rehabilitation service and centre-based • Everyday Waltzes for Active Ageing nursing care to holistically meet clients’ needs. Supported by Agency for Integrated Care and DID YOU KNOW? 360 CARE 23 Our Yishun Home will operate a Soup Kitchen where elderly in the neighbourhood can pop by for a bowl of nutritious soup and make new friends.
Yishun DID YOU KNOW? 7 species of flowers are found in our garden at Tampines.
Hougang
Tampines Jurong East
Yishun Home Jurong East Home
the National Arts Council, the waltz programme • Soup Kitchen encourages our residents to get up on their feet, The community-based Share-a-Pot project is a uplifts their mood, increases sociability and draws collaboration with Alexandra Health. Seniors in the them closer to the care staff. neighbourhood are encouraged to to visit our home, exercise and enjoy a hearty bowl of nutritious soup. All Saints Home (Yishun) All Saints Home (Yishun) opened its door to the first All Saints Home (Jurong East) resident on 23 March 2015, and extended our reach to The home, with its lush greenery and therapeutic the northen part of Singapore. The home reignites the outdoor garden, will offer tranquility to our residents kampong spirit with its community-based activities. when it commences operations in September 2015. • 183 beds • 194 beds • Community Rehabilitation • Dementia Care Provides day physiotherapy and occupational A single level of ward with 49 beds will be dedicated to therapy programs individually tailored for each client the care of residents with dementia. according to his or her needs. • Therapeutic Outdoor Garden • Community Garden This garden provides the safe and green space needed To bring rural life into the city, and promote interaction by residents (especially those with dementia) to amongst residents and volunteers who can grow and wander and enjoy. harvest their favourite flowers, herbs and fruits. 24 All Saints Home Annual Report
Residential Care Our care plan for each resident is individualised and is reviewed periodically according to his or her latest condition and needs. Customised physiotherapy, occupational therapy, continence management and other healthcare activities are carried out daily according to the resident’s dependency status. There is also a variety of recreational programmes to promote social interaction amongst residents.
Respite Care As a value-added service, we provide short- term respite care to families and caregivers for up to 30 days. Such respite care enables them to have a short break, with peace of mind that their loved ones are being cared for safely and professionally. 360 CARE 25
Day Care We help our day clients to maximise independence, enhance function, adapt and develop skills, and minimise the need for support. Their caregivers are also given support and training.
Home Care We will soon extend our range of services to include home-based care where we can provide our clients with a complete range of care services in the comfort of their homes. This delays institutionalisation and frees up hospital beds for acute-care patients.
DID YOU KNOW? Our oldest resident is Eurasian and is 104 years old. 26 All Saints Home Annual Report
Fundraising Events Thanks to our donors and sponsors, All Saints Home raised over S$780,000 in 2014. The proceeds will go a long way in funding our operations as we reach out to more elderly in Singapore.
Thanksgiving Dinner
DID YOU KNOW? In February 2015, we launched a Senior Care Generous donors supporting the Thanksgiving auction. Centre at our Tampines Home to provide integrated eldercare services to holistically meet clients’ needs. 360 CARE 27
Charity Golf Fundraising Events
Ready, on your mark, get set, swing!
Flag Day
Enthusiastic flag-sellers from Presbyterian High School. 28 All Saints Home Annual Report DID YOU KNOW? With staff from eight different countries, All Saints Home is a “mini It’s Playtime! United Nations ”. All work and no play makes Jack a dull boy. We believe in working hard and playing hard to build camaraderie.
Sports Fiesta
Let’s get fit together! All Saints Home’s very own Bicycle Interest Group.
Hougang Home versus Tampines Home in Men’s Volleyball Finals.
Festive Celebrations 360 CARE 29
Mingalaba! Ushering in the Burmese New Year and celebrating the Water Festival, Thingyan.
Batam Trip
Sun, Sand & Sea! Celebrating Nurses’ Day with a twist!
Residents and volunteers feeling the love and spirit of Christmas at Hougang Home. 30 All Saints Home Annual Report Volunteers in Action! Our strong team of volunteers conduct a variety of recreational activities such as handicrafts, mass games, befriending sessions and outings to bond with residents.
All Saints Bethel Befrienders spreading the joy and cheer of Christmas to our residents with spirited dance & song! 360 CARE 31
Volunteer, Ms Carolyn Tan, enjoying ‘Loop The Ring’ with our eager resident on a cosy Saturday afternoon.
DID YOU KNOW? Our residents love to visit River Safari, SEA Aquarium, Singapore Zoo, and Gardens by the Bay.
One Big Family! All Saints Home’s Chaplaincy team with our Chapel & Ministry volunteers. 32 All Saints Home Annual Report Statistics
Average Bed Occupancy
Tampines
91%
Hougang
93% 360 CARE 33
Mobility
Tampines Hougang 0.5% 3%
42.5% 32% 57% 65%
Walking (Cat 2) Bed-ridden (Cat 4) Wheelchair bound (Cat 3)
No. of Day Clients (TP) from Jan to Dec 2014
130 125
120 111 112 110 109
100 Jan - Mar Apr - Jun Jul - Sep Oct - Dec 34 All Saints Home Annual Report
Financial Statements 360 CARE 35
Financial Contents
Report In Compliance With Charities Regulations 36
Statement by Directors 37
Independent Auditor’s Report 38
Statement of Financial Activities 40
Statement of Financial Position 41
Statement of Changes in Funds 42
Statement of Cash Flows 43
Notes to the Financial Statements 44 36 All Saints Home Annual Report
REPORT IN COMPLIANCE WITH CHARITIES REGULATIONS For the financial year ended 31 December 2014
All Saints Home was set up on 2 July 1987, as a society. It was registered under the Charities Act on 18 March 1993 and a full member of National Council of Social Service (NCSS).
Unique Entity Number: S87SS0068F
Registered office: 5, Poh Huat Road, Singapore 546703
Board of Directors: The Board of Directors was elected at the Annual General Meeting held on 19 April 2014. Mr Chua Hung Seng Chairman Mr Sunny Tan Chuan Long Vice Chairman Dr Eugene Yeo Yew Jen Honorary Secretary Mr Ng Keok Boon Honorary Treasurer Mr Tan Hua Joo Vice Honorary Treasurer Mr Chua Hong Tong Director Mr Chua Lip Wei Director Mr Tan Chee Meng Director Mr Tan Huat Seng Director
Other Advisor: Ms Pauline Ang Legal Advisor
Key Employees: Dr Eugene Yeo Yew Jen Chief Executive Officer Mr Richard Quah Boon Hock Centre Director, Hougang and Yishun Mr Philip Wong Toon Suan Centre Director, Tampines and Jurong East Dr Lee Yun Resident Doctor Ms Tan Lai Suan Director, Nursing Ms Rosie Lim Hean Neo Director, Special Projects Ms Chan Foong Yee Human Resource Manager Ms Ko Hui Yun Finance Manager Ms Lianne Seah Li Yan Corporate and Community Relations Manager
Bankers: The Development Bank of Singapore Limited United Overseas Bank Limited Oversea-Chinese Banking Corporation
Auditor: P G Wee Partnership LLP Chartered Accountants of Singapore 79 Anson Road #07-03 Singapore 079906 Tel: 6220 8858
360 CARE 37
STATEMENT BY DIRECTORS For the financial year ended 31 December 2014
The Board of Directors is responsible for the preparation and fair presentation of these financial statements in accordance with the Charities Act, Chapter 37, Recommended Accounting Practice No. 6 (RAP 6) and Singapore Financial Reporting Standards. This responsibility includes designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies and making accounting estimates that are reasonable in the circumstances.
In our opinion, the financial statements are drawn up so as to give a true and fair view of the state of affairs of All Saints Home (Home) as at 31 December 2014 and of the results, changes in funds and statement of cash flows of the Home for the year ended on that date in accordance with the provisions of the Acts.
The Board of Directors has, on the date of this statement, authorised these financial statements for issue.
On Behalf of the Board of Directors,
Chua Hung Seng Chairman
Ng Keok Boon Honorary Treasurer
27 February 2015
38 All Saints Home Annual Report
INDEPENDENT AUDITOR’S REPORT To the Members of All Saints Home
Report on the Financial Statements We have audited the financial statements of All Saints Home (Home) which comprise the statement of financial position as at 31 December 2014, the statement of financial activities, statement of changes in funds and statement of cash flows of the Home for the year then ended, and a summary of significant accounting policies and other explanatory information.
Management’s Responsibility for the Financial Statements The Management is responsible for the preparation of these financial statements that give a true and fair view in accordance with the Charities Act, Chapter 37, Recommended Accounting Practice No. 6 (RAP 6) and Singapore Financial Reporting Standards, and for devising and maintaining a system of internal accounting controls sufficient to provide a reasonable assurance that assets are safeguarded against loss from unauthorised use or disposition; and transactions are properly authorised and that they are recorded as necessary to permit the preparation of true and fair statement of financial activities and statement of financial position and to maintain accountability of assets.
Auditor’s Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Singapore Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. 360 CARE 39
INDEPENDENT AUDITOR’S REPORT To the Members of All Saints Home
Opinion In our opinion, the financial statements are properly drawn up in accordance with the Charities Act, Chapter 37, Recommended Accounting Practice No. 6 (RAP 6) and Singapore Financial Reporting Standards and so as to give a true and fair view of the state of affairs of the Home as at 31 December 2014 and of the results, changes in funds and statement of cash flows of the Home for the year ended on that date.
Report on other Legal and Regulatory Requirements
In our opinion, the accounting and other records required by the Home have been properly kept in accordance with the Regulations.
During the course of our audit, nothing has come to our attention to cause us to believe that:
(a) the donation money have not been used in accordance with the objectives of the Home as an institution of a public character ; and
(b) the total fund-raising expenses of the entity has exceeded 30% of the total gross receipts from fund-raising as mentioned in Regulation 15(1) of the Charities Act (Institute of a Public Character) (Amendment) Regulation 2008.
P G Wee Partnership LLP Public Accountants and Chartered Accountants Singapore
27 February 2015 40 All Saints Home Annual Report
STATEMENT OF FINANCIAL ACTIVITIES For the financial year ended 31 December 2014
Unrestricted Funds Note 2014 2013 SGD SGD
INCOME Income from generated funds - Voluntary income 4 1,238,405 703,355 - Fundraising activities 5 784,892 508,910 - Interest income 30,577 25,410
Income from charitable activities 6 11,325,351 10,717,354
Other income 7 105,161 43,653 Total income 13,484,386 11,998,682
EXPENDITURE Cost of generating funds - Fundraising activities 5 97,616 93,993 - Depreciation of donated ambulances 13 27,617 51,817
Charitable activities 8 8,398,483 7,442,775
Other operating and administration expenditures 9 3,211,620 2,456,165
Governance costs - Auditors' remuneration 25,567 16,636 Total expenditures 11,760,903 10,061,386
Net surplus for the year 1,723,483 1,937,296
The accompanying notes form an integral part of these financial statements 360 CARE 41
STATEMENT OF FINANCIAL POSITION As at 31 December 2014
Note 2014 2013 SGD SGD
Assets Non-current assets Property, plant and equipment 13 7,446,514 6,569,340 Total non-current assets 7,446,514 6,569,340
Current assets Inventories 14 139,830 176,108 Trade and other receivables 15 507,556 325,350 Other assets 16 554,251 185,268 Cash and cash equivalents 17 13,793,503 12,181,332 Total current assets 14,995,140 12,868,058 Total assets 22,441,654 19,437,398
Funds and Liabilities Unrestricted funds General fund 9,922,270 8,198,787 Designated funds 18 8,511,682 8,486,140 Total unrestricted funds 18,433,952 16,684,927
Restricted funds Building fund 284,156 284,156 Community Silver Trust 19 1,265,712 362,569 Total restricted funds 1,549,868 646,725 Total funds 19,983,820 17,331,652
Current liabilities Trade and other payables 20 1,533,761 1,524,976 Other liabilities 21 924,073 580,770 Total current liabilities 2,457,834 2,105,746 Total funds and liabilities 22,441,654 19,437,398
The accompanying notes form an integral part of these financial statements 42 All Saints Home Annual Report
STATEMENT OF CHANGES IN FUNDS For the financial year ended 31 December 2014
Unrestricted Funds Restricted Funds General Designated Building Community Total fund fund fund Silver Trust SGD SGD SGD SGD SGD
Balance as at 1 January 2014 8,198,787 8,486,140 284,156 362,569 17,331,652 Surplus for the year 1,723,483 - - - 1,723,483 Receipts - 796,027 - 1,033,285 1,829,312 Expenditure - - - (130,142) (130,142) Amortisation for the year - (770,485) - - (770,485) Balance as at 31 December 2014 9,922,270 8,511,682 284,156 1,265,712 19,983,820
Balance as at 1 January 2013 6,261,491 8,234,406 284,156 518,683 15,298,736 Surplus for the year 1,937,296 - - - 1,937,296 Receipts - 720,316 - - 720,316 Expenditure - 77,128 - (156,114) (78,986) Amortisation for the year - (545,710) - - (545,710) Balance as at 31 December 2013 8,198,787 8,486,140 284,156 362,569 17,331,652
The accompanying notes form an integral part of these financial statements 360 CARE 43
STATEMENT OF CASH FLOWS For the financial year ended 31 December 2014
Note 2014 2013 SGD SGD Cash flows from operating activities Surplus for the year 1,723,483 1,937,296 Adjustments for: Amortisation of deferred capital grants 18 (770,485) (545,710) Depreciation of property, plant and equipment 13 702,219 600,154 Interest income (30,577) (25,410) Impairment of receivables 198,747 205,000 Transfer to restricted cash - (377) Operating surplus before working capital changes 1,823,387 2,170,953 Inventories 36,278 (66,615) Trade and other receivables (380,953) (190,870) Other assets (368,983) 1,719 Trade and other payables 8,785 309,543 Other liabilities 343,303 (58,874) Cash flow from operations 1,461,817 2,165,856 Interest received 30,577 25,410 Net cash generated from operating activities 1,492,394 2,191,266
Cash flows from investing activities Purchase of plant and equipment (1,579,393) (548,813) Government grants on capital expenditure 1,699,170 641,330 Net cash generated from investing activities 119,777 92,517
Cash flows from financing activities Net cash Flows From (Used In) Financing Activities - -
Net increase in cash and cash equivalents 1,612,171 2,283,783 Cash and cash equivalents at beginning of year 12,064,952 9,781,169 Cash and cash equivalents at end of year 17 13,677,123 12,064,952
The accompanying notes form an integral part of these financial statements 44 All Saints Home Annual Report
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
These notes form an integral part of and should be read in conjunction with the accompanying financial statements.
1. Home’s Information
All Saints Home’s (Home) registered office is located at 5 Poh Huat Road, Singapore 546703 and its principal places of business are located at 5 Poh Huat Road, Singapore 546703 and 11 Tampines Street 44, Singapore 529123. The Home is incorporated and situated in Singapore. The Home was registered as a society on 2 July 1987 under the Societies Act, Chapter 311. On 18 March 1993, it was registered as a Charity under the Charities Act, Chapter 37 and has been accorded the status of an Institution of a Public Character (IPC) for the period from 17 July 2012 to 16 July 2015.
The principal activities are to provide residential care, respite care, centre-based services such as day care and day rehabilitation. The Home’s vision is to be a shining testimony of God’s great love and compassion in elder care.
2. Significant Accounting Policies
Basis of Accounting
The financial statements of the Home have been prepared in accordance with the Charities Act, Chapter 37, Recommended Accounting Practice No. 6 (RAP 6) and Singapore Financial Reporting Standards (“FRS”).
The financial statements expressed in Singapore Dollar (“SGD”) are prepared in accordance with the historical cost convention except as disclosed, where appropriate, in the accounting policies below.
The preparation of financial statements in conformity with FRS requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the financial year. Although these estimates are based on management’s best knowledge of current events and actions, actual results may ultimately differ from those estimates.
The accounting policies adopted are consistent with those of the previous financial year except in the current financial year, the Home has adopted all the new and revised standards and interpretations of FRS (“INT FRS”) that are effective for annual periods beginning on or after 1 January 2014. The adoption of these standards and interpretations did not have any effect on financial performance or position of the Home.
Funds
The Home maintains restricted funds and unrestricted funds. Funds set up for specific purposes are classified as restricted funds. All income and expenses other than those attributable to restricted funds and common overheads are recorded in the unrestricted fund’s statement of financial activities.
In order to ensure observance of limitations and restrictions placed on the use of resources available to the Home, the financial statements of the Home are maintained substantially in accordance with the principles of “fund accounting” whereby the resources for various purposes are classified for accounting and reporting purposes into specific funds that are in accordance with activities or objectives specified. 360 CARE 45
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
2. Significant Accounting Policies (continued)
Functional and Presentation Currency
Items included in the financial statements are measured using the currency of the primary economic environment in which the Home operates (“the functional currency”). The financial statements are presented in Singapore Dollar (“SGD”), which is the Home functional and presentation currency.
All financial information presented are denominated in Singapore Dollar unless otherwise stated.
Revenue Recognition
Revenue for the Home comprises the fair value of the consideration received or receivables for rendering of services and donations received. Revenue are recognised as follows:
(a) Rendering of Services Revenue generated from social activities, events and programmes are recognised when services are rendered.
(b) Donation General donations, contributions from members and appeal donations are recognised on receipt basis.
(c) Grant/Subsidy A government grant and/or subsidy, that becomes receivables as compensation for expenses or losses already incurred, is recognised as income in income and expenditure in the period in which it becomes receivables.
(d) Interest Income Interest income is recognised on a time-proportion basis using the effective interest rate method. When a receivable is impaired, the Home reduces the carrying amount to its recoverable amount, being the estimated future cash flow discounted at original effective interest rate of the instrument, and thereafter amortising the discount as interest income.
(e) Donation in Kind Donation in kind received through Home policy donations are recorded in accordance with the RAP 6 Guideline, referred to as the RAP 6 Guideline. Donation in kind are valued and recorded as revenue at their estimated fair values as provided by the donor or, in the absence of donors’ valuations, estimated by the Management considering their condition and utility for use at the time the goods are received from the donor.
The recognition of donation in kind revenue is limited to donations where the Home takes possession and the Home is original recipient of the donation. 46 All Saints Home Annual Report
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
2. Significant Accounting Policies (continued)
Retirement Benefit Costs
Contributions to defined contribution retirement benefit plans are recorded as an expense as they fall due. Contributions made to government managed retirement benefit plan such as the Central Provident Fund which specifies the employer’s obligations are dealt with as defined contribution retirement benefit plans.
Operating Leases
Leases of assets in which a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases (net of any incentives received from the lessor) is recognised as an expense in income and expenditure on a straight-line basis over the period of the lease.
When an operating lease is terminated before the lease period has expired, any payment required to be made to the lessor by way of penalty is recognised as an expense in income and expenditure the period in which termination takes place.
Income Taxes
The Home is a registered Charity under the Charities Act, Chapter 37 and is exempted from income tax.
Property, Plant and Equipment
Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses.
Depreciation is calculated on the straight-line method to write off the cost of the assets over their estimated useful lives. The estimated useful lives have been taken as follows:
Building - 30 years Motor vehicles - 5 years Computer and software - 3 to 5 years Furniture and fittings - 5 years Renovation - 5 years Medical equipment - 3 years
The residual values, estimated useful lives and depreciation method are reviewed, and adjusted as appropriate, at end of each reporting year.
Fully depreciated assets are retained in the accounts until they are no longer in use.
No depreciation is made on renovation in progress until such time as the relevant assets are completed and are ready for its intended use.
On disposal of an item of property, plant and equipment, the difference between the net disposal proceeds and its carrying amount is recognised in income and expenditure. 360 CARE 47
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
2. Significant Accounting Policies (continued)
Impairment of Non-Financial Assets The Home assesses at each reporting date whether there is an indication that an asset may be impaired. If any such indication exists or when annual impairment assessment for an asset is required, the Home makes an estimate of the asset’s recoverable amount.
An asset’s recoverable amount is the higher of an asset’s or cash-generating unit’s fair value less costs to sell and its value in use and is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets. In assessing value in use, the estimated future cash flows expected to be generated by the asset are discounted to their present value. Where the carrying amount of an asset exceeds it recoverable amount, the asset is written down to its recoverable amount.
Impairment losses are recognised in income and expenditure.
An assessment is made at each reporting date as to whether there is any indication that previously recognised impairment losses may no longer exist or may have decreased. A previously recognised impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognised. If that is the case, the carrying amount of the asset is increased to its recoverable amount. That increase cannot exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognised previously. Such reversal is recognised in income and expenditure.
Inventories
Inventories are consist of consumables stated at the lower of cost and net realisable value on a first-in first-out basis.
Financial Assets
Financial assets are recognised when, and only when, the Home becomes a party to the contractual provisions of the financial instrument.
When financial assets are recognised initially, they are measured at fair value, plus, in the case of a financial asset not at fair value through profit or loss, directly attributable transaction costs.
A financial asset is derecognised where the contractual right to receive cash flows from the asset has expired. On derecognition of a financial asset in its entirety, the difference between the carrying amount and the sum of the consideration received and any cumulative gain or loss that had been recognised in the statement of financial activities is recognised in income and expenditure.
All regular way purchases and sales of financial assets are recognised or derecognised on the trade date i.e. the date that the Home commits to purchase or sell the asset. Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the period generally established by regulation or convention in the marketplace concerned. 48 All Saints Home Annual Report
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
2. Significant Accounting Policies (continued)
Loans and Receivables
Financial assets with fixed or determinable payments that are not quoted in an active market are classified as loans and receivables. Subsequent to initial recognition, loans and receivables are measured at amortised cost using the effective interest rate method. Gains and losses are recognised in income and expenditure when the loans and receivables are derecognised or impaired, and through the amortisation process.
Impairment of Financial Assets
The Home assesses at each end of reporting year whether there is any objective evidence that a financial asset or a group financial assets is impaired.
Assets Carried at Amortised Cost
If there is objective evidence that an impairment loss on financial assets carried at amortised cost has been incurred, the amount of the loss is measured as the difference between the asset’s carrying amount and the present value of estimated future cash flows discounted at the financial asset’s original effective interest rate. The carrying amount of the asset is reduced through the use of an allowance account. The amount of the loss is recognised in income and expenditure.
When the asset becomes uncollectible, the carrying amount of impaired financial assets is reduced directly or if an amount was charged to the allowance account, the amounts charged to the allowance account are written off against the carrying value of the financial asset. To determine whether there is objective evidence that an impairment loss on financial assets has been incurred, the Home considers factors such as the probability of insolvency or significant financial difficulties of the debtor and default or significant delay in payments.
If in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognised, the previously recognised impairment loss is reversed to the extent that the carrying value of the asset does not exceed its amortised cost at the reversal date. The amount of reversal is recognised in the income and expenditure.
Cash and Cash Equivalents
Cash and cash equivalents include bank and cash balances and on demand deposits with financial institutions. For the statement of cash flows, the items include cash and cash equivalents less cash subject to restriction. Other financial assets and financial liabilities at fair value through income and expenditure are presented within the section on operating activities as part of changes in working capital in the statement of cash flows.
Financial Liabilities
Financial liabilities are recognised when, and only when, the Home becomes a party to the contractual provisions of the financial instrument. Financial liabilities are initially recognised at fair value of the consideration received plus, in the case of a financial liability not at fair value through profit or loss, directly attributable transaction costs and subsequently measured at amortised cost using the effective interest rate method.
Gains and losses are recognised in income and expenditure when the liabilities are derecognised as well as through the amortisation process. The liabilities are derecognised when the obligation under the liability is extinguished.
360 CARE 49
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
2. Significant Accounting Policies (continued)
Provisions
A provision is recognised when there is a present obligation (legal and constructive) as a result of past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. Provisions are reviewed at end of each reporting year and adjusted to reflect the current best estimate.
Critical Judgements, Assumptions and Estimation Uncertainties
The preparation of the Home’s financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent liabilities at the reporting date. However, uncertainty about these assumptions and estimates could result in outcomes that could require a material adjustment to the carrying amount of the asset or liability affected in the future.
Key Sources of Estimation Uncertainty
The key assumptions concerning the future and other key sources of estimation uncertainty at each reporting year, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:
Useful Lives of Property, Plant and Equipment
Property, Plant and equipment are depreciated on a straight-line basis over their estimated useful lives. Management anticipate the useful lives of these property, plant and equipment to be within 3 to 30 years. The carrying amount of the Home’s property, plant and equipment at 31 December 2014 is SGD 7,446,514 (2013: SGD 6,569,340). Changes in the expected level of usage and technological developments could impact the economic useful lives and the residual values of these assets, therefore future depreciation charges could be revised.
Impairment of Receivables
Management reviews its receivables for objective evidence of impairment at least annually. Significant financial difficulties of the debtor, the probability that the debtor will enter bankruptcy, and default significant delay in payments are considered objective evidence that a receivable is impaired. In determining this, management makes judgement as to whether there is observable data indicating that there has been a significant change in the payment ability of the debtor, or whether there have been significant changes with adverse effect in the technological, market, economic or legal environment in which the debtor operates.
Where there is objective evidence of impairment, management makes judgements as to whether an impairment loss should be recorded in income and expenditure. In determining this, management uses estimates based on historical loss experience for assets with similar credit risk characteristics. The methodology and assumptions used for estimating both the amount and timing of future cash flows are reviewed regularly to reduce any differences between the estimated loss and actual loss experience. The carrying amount of the Home’s loans and receivables at 31 December 2014 are disclosed in note 15 to the financial statements. 50 All Saints Home Annual Report
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
3. Related Party Relationships and Transactions
FRS 24 defines a related party as a person or entity that is related to the reporting entity and it includes (a) A person or a close member of that person’s family if that person: (i) has control or joint control over the reporting entity; (ii) has significant influence over the reporting entity; or (iii) is a member of the key partners personnel of the reporting entity or of a parent of the reporting entity. (b) An entity is related to the reporting entity if any of the following conditions apply: (i) The entity and the reporting entity are members of the same group. (ii) One entity is an associate or joint venture of the other entity. (iii) Both entities are joint ventures of the same third party. (iv) One entity is a joint venture of a third entity and the other entity is an associate of the third entity. (v) The entity is a post-employment benefit plan for the benefit of employees of either the reporting entity or an entity related to the reporting entity. (vi) The entity is controlled or jointly controlled by a person identified in (a). (vii) A person identified in (a)(i) has significant influence over the entity or is a member of the key partners personnel of the entity (or of a parent of the entity).
3.1 Key management compensation: 2014 2013 SGD SGD Salaries and bonus 394,833 315,893
Number of key management in remuneration bands:
2014 2013 SGD SGD SGD 50,000 and below 1 1 SGD 50,000 – SGD 100,000 - 2 SGD 100,000 – SGD 150,000 3 1
Key management personnel are those chief executive officer and senior officers having authority and responsibility for planning, directing and controlling the activities of the Home, directly or indirectly. The above amounts for key management compensation are for 4 (2013: 4) key management personnel. 360 CARE 51
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
4. Voluntary Income 2014 2013 SGD SGD Donations 366,077 125,606 Donation in kind 38,087 32,039 Operating grants 63,756 - Amortisation of deferred capital grants (note 18) 770,485 545,710 1,238,405 703,355
The tax deductible donations received amounted to SGD 336,213 (2013: SGD 95,677).
5. Fundraising Activities 2014 2013 SGD SGD Charity Golf 250,650 201,350 Thanksgiving Dinner 434,255 297,220 Flag Day 52,887 - Charity Dinner 47,100 - Appeal letter - 10,340 784,892 508,910 Less: Fundraising expenses Charity Golf 32,632 40,035 Thanksgiving Dinner 59,294 53,958 Flag Day 2,190 - Charity Dinner 3,500 - 97,616 93,993 Surplus from fundraising activities 687,276 414,917
The tax deductible donations received amounted to SGD 671,642 (2013: SGD 487,140). 52 All Saints Home Annual Report
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
6. Income from Charitable Activities 2014 2013 SGD SGD Government subvention (note 10) 6,799,841 6,308,926 Home fees 3,124,815 3,472,739 Medical supplies and services 827,291 651,296 Day care and rehabilitation centre income 198,164 148,197 Ambulance services 334,591 90,699 Admission fees 14,500 9,700 Bad debts recovered - 9,867 Medical consultation 26,149 25,930 11,325,351 10,717,354
7. Other Income 2014 2013 SGD SGD Clinical attachment 19,730 2,800 Others 85,431 40,853 105,161 43,653 360 CARE 53
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
8. Charitable Activities 2014 2013 SGD SGD Employee benefits expenses (note 11) 6,716,502 5,780,359 Food and refreshment 464,810 643,985 Impairment of receivables 198,747 205,000 Medical supplies and services cost 958,315 756,574 Resident welfare 48,898 49,374 Sanitary and utensils 11,211 7,483 8,398,483 7,442,775
9. Other Operating and Administration Expenditures 2014 2013 SGD SGD Building cost recovery 220,000 220,000 Depreciation of property, plant and equipment (note 13) 674,602 548,337 GST adjustment on claimable input tax – current year 127,362 - – prior years 374,680 - Land lease 464,464 445,383 Maintenance contracts 126,218 125,823 Rental of office equipment 12,820 12,240 Repair and maintenance 263,535 289,531 Utilities 492,755 510,554 Others 455,184 304,297 3,211,620 2,456,165 54 All Saints Home Annual Report
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
10. Government Subvention 2014 2013 SGD SGD Recurrent operating subvention 5,246,410 4,392,064 Rental subsidy 445,464 445,288 Special employment credit 21,412 41,187 Replacement ratio 507,657 620,477 Salary adjustment exercise grant 578,898 786,151 Others - 23,759 6,799,841 6,308,926
11. Employee Benefits Expenses 2014 2013 SGD SGD CPF contribution, skills development levy and foreign worker levy 1,135,323 968,420 Salaries and bonus 5,075,316 4,424,108 Staff welfare 505,863 387,831 6,716,502 5,780,359
The average number of staff employed by the Home is 249 (2013: 230).
12. Income Tax Benefit (Expense)
The Home is a registered charity under the Charities Act 1982 and is exempted from income tax under Section 13U of the Income Tax Act. 360 CARE 55
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
13. Property, Plant and Equipment
Building Motor Computer Furniture Renovation Medical Renova- Total Vehicles and and Equip- tion in Software Fittings ment Progress
SGD SGD SGD SGD SGD SGD SGD SGD
Cost
At 1.1.2013 9,878,483 485,097 369,701 3,245,593 139,862 - - 14,118,736
Additions - - 92,030 239,930 216,853 - - 548,813
At 31.12.2013 9,878,483 485,097 461,731 3,485,523 356,715 - - 14,667,549 and 1.1.2014
Additions - 132,120 146,350 238,713 197,583 82,976 781,651 1,579,393
At 9,878,483 617,217 608,081 3,724,236 554,298 82,976 781,651 16,246,942 31.12.2014
Accumulated Depreciation
At 1.1.2013 3,943,622 324,798 141,483 3,075,510 12,642 - - 7,498,055
Depreciation 329,283 60,458 86,131 59,442 64,840 - - 600,154 for year
At 31.12.2013 4,272,905 385,256 227,614 3,134,952 77,482 - - 8,098,209 and 1.1.2014
Depreciation 329,283 38,460 99,177 128,599 95,665 11,035 - 702,219 for year
At 4,602,188 423,716 326,791 3,263,551 173,147 11,035 - 8,800,428 31.12.2014
Net Carrying Amount
At 5,276,295 193,501 281,290 460,685 381,151 71,941 781,651 7,446,514 31.12.2014
At 5,605,578 99,841 234,117 350,571 279,233 - - 6,569,340 31.12.2013
The building was built on leased land from Singapore Land Authority. 56 All Saints Home Annual Report
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
14. Inventories 2014 2013 SGD SGD Consumables 139,830 176,108 Inventories recognised as an expense in cost of supplies 708,981 701,527
15. Trade and Other Receivables
2014 2013 SGD SGD Trade receivables 698,375 572,370 Less: Allowance for impairment (314,518) (374,997) 383,857 197,373 Other receivables 87,647 117,684 Fixed deposit interest receivables 16,296 10,293 GST receivable 19,756 - 507,556 325,350
Trade receivables are non-interest bearing and are generally on 14 days’ credit term. Other receivables represent grant receivables from government bodies.
Receivables that are past due but not impaired
The Home has trade receivables amounting to SGD 383,857 (2013: SGD 197,373) that are past due at the end of reporting year but not impaired. These receivables are unsecured and the analysis of the ageing at the end of the reporting year is as follows:
2014 2013 SGD SGD Trade receivables past due Less than 30 days 173,851 171,888 31 to 60 days 112,472 25,485 61 to 90 days 97,534 - 383,857 197,373 360 CARE 57
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
15. Trade and Other Receivables (continued) 2014 2013 SGD SGD
Movement in allowance for impairment At 1 January 374,997 169,997 Charged for financial year 198,747 205,000 Written off receivable (259,226) - At 31 December 314,518 374,997
Trade receivables that are individually determined to be impaired at the end of the reporting period relate to debtors that are in significant financial difficulties and have defaulted on payments.
16. Other Assets
2014 2013 SGD SGD Deposits 351,031 120,566 Prepayments 203,220 64,702 554,251 185,268
17. Cash and Cash Equivalents
2014 2013 SGD SGD Cash in hand and cash at bank 7,579,573 5,440,825 Fixed deposits 6,213,930 6,740,507 13,793,503 12,181,332 Fixed deposit pledged for banking facilities (a) (116,380) (116,380) Cash and cash equivalents in statement of cash flows 13,677,123 12,064,952
(a) Fixed deposit is pledged to bank for letter of guarantee issued by bank to lessor of premise (note 22).
Fixed deposit are placed with financial institutions and mature within 2 to 12 months (2013: 2 to 12 months) from year end. The effective interest rate is 0.25% to 0.80% (2013: 0.20% to 0.47%) per annum.
Bank balances amounting to SGD 682,011 (2013: SGD 293,906) relate to monies received on behalf of Medifund account (note 21). 58 All Saints Home Annual Report
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
18. Designated Funds 2014 2013 SGD SGD (1) Government Capital Grants: Balance at beginning of year 6,311,295 6,640,579 Less: Transfer to statement of financial activities (470,426) (329,284) Balance at end of year 5,840,869 6,311,295
(2) Donation of Ambulances from Lee Foundation Balance at beginning of year 89,039 143,570 Add: Funds received 320,000 - Less: Transfer to statement of financial activities (27,616) (54,531) Balance at end of year 381,423 89,039
(3) Office Renovation and Cyclical Maintenance Fund Balance at beginning of year 259,580 27,549 Add: Funds received from President Challenge - 246,000 Less: Transfer to statement of financial activities (55,016) (13,969) Balance at end of year 204,564 259,580
(4) Nursing and Medical Equipment Funds Balance at beginning of year 54,000 - Funds received from President Challenge - 54,000 Less: Transfer to statement of financial activities (7,445) - Balance at end of year 46,555 54,000
(5) Nursing Home Computerisation - NCSS Balance at beginning of year 39,072 61,814 Less: Transfer to statement of financial activities (22,742) (22,742) Balance at end of year 16,330 39,072
(6) Rehabilitation Equipment Funding Balance at beginning of year 3,148 4,407 Less: Transfer to statement of financial activities (1,259) (1,259) Balance at end of year 1,889 3,148 360 CARE 59
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
18. Designated Funds (continued) 2014 2013 SGD SGD (7) Enteral Feed Project Funding Balance at beginning of year - (5,155) Add: Fund received from Agency for Integrated Care - 5,155 Balance at end of year - -
(8) Day Care and Rehabilitation Centre Balance at beginning of year 125,736 160,825 Less: Transfer to statement of financial activities (35,089) (35,089) Balance at end of year 90,647 125,736
(9) Tampines's Branch Bed Conversion Balance at beginning of year 12,520 16,184 Less: Transfer to statement of financial activities (3,664) (3,664) Balance at end of year 8,856 12,520
(10) Hougang's Branch Bed Conversion Balance at beginning of year 161,597 (77,129) Add: Funds received from Ministry of Health (MOH) - 197,647 Less: Transfer to statement of financial activities (39,715) (36,049) Less: Expenditure - 77,128 Balance at end of year 121,882 161,597
(11) VCF Info-Communications Technology (ICT) Balance at beginning of year 10,150 17,762 Less: Transfer to statement of financial activities (7,612) (7,612) Balance at end of year 2,538 10,150
(12) Deferred Capital Grant Balance at beginning of year 176,003 - Add: Funds received 96,658 217,514 Less: Transfer to statement of financial activities (53,026) (41,511) Balance at end of year 219,635 176,003
(13) Haze Equipment Add: Funds received 12,397 - Less: Transfer to statement of financial activities (2,066) - Balance at end of year 10,331 - 60 All Saints Home Annual Report
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
18. Designated Funds (continued)
2014 2013 SGD SGD
(14) Tampines's Branch Ward Conversion Add: Funds received 290,840 - Less: Transfer to statement of financial activities (44,809) - Balance at end of year 246,031 -
(15) New Homes Fund Add: Funds received 71,132 -
(16) Senior Care Centre and Yishun Home Ambulances Fund Add: Funds received 5,000 -
(17) Sinking Fund Balance at beginning and end of year 1,244,000 1,244,000
Total designated funds 8,511,682 8,486,140
Designated funds received includes tax deductible donations amounting to SGD 391,732 (2013: SGD nil). 360 CARE 61
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
19. Community Silver Trust
2014 2013 SGD SGD Balance at beginning of year 362,569 518,683 Add: Receipts Community Silver Trust – Matching Grant 1,033,285 - Less: Expenditure (130,142) (156,114) Balance at the end of year 1,265,712 362,569
The Community Silver Trust (“CST”) is a government matching grant of one dollar for every donation dollar raised by eligible centres to encourage more donations and provide additional resources for service providers in the intermediate and long-term care sector. The grant will enhance capabilities and provide value-added services to achieve higher quality care.
20. Trade and Other Payables
2014 2013 SGD SGD Trade payables 498,009 481,988 Accruals 1,027,839 935,106 Other payables 7,913 4,075 GST payable - 28,807 Deferred income - 75,000 1,533,761 1,524,976
Trade payables are non-interest bearing and are normally settled on 30 days' terms.
21. Other Liabilities
2014 2013 SGD SGD Refundable deposits 242,062 286,864 Monies held on behalf of Medifund Account 682,011 293,906 924,073 580,770
Medifund Account relates to monies received on behalf of Medifund (note 17). 62 All Saints Home Annual Report
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
22. Operating Lease Commitments At the end of the reporting year end, the Home has outstanding commitments under non-cancellable operating leases in respect of lease of land and equipment which fall due as follows:
2014 2013 SGD SGD Not later than one year 670,744 670,744 Later than one year but not later than five years 994,866 1,445,610 More than five years 4,400,000 4,620,000 6,065,610 6,736,354
23. Reserves Policy
2014 2013 SGD SGD Unrestricted fund 9,922,270 8,198,787 Ratio of Reserves to Annual Operating Expenditure 0.84 0.81
The Home will maintain its reserve policy at a level which is at least equivalent to a minimum of half a year of the current operating expenses. The management regularly reviews the amount of reserves that are required to ensure that they are adequate to fulfill the Home's continuing obligations and provide financial stability to the Home's beneficiaries, donors and supporters.
24. Capital Commitments Capital expenditure contracted for as at the end of the reporting year but not recognised in the financial statements are as follows:
2014 2013 SGD SGD Purchase of plant and equipment 226,266 207,605
25. Events Occurring after the Reporting Period Subsequent to the year end, the Home continued to prepare for the operationalisation of two new nursing homes located at 551 Yishun Ring Road Singapore 768681 and 20 Jurong East Avenue 1 Singapore 609792 which would commence operations in 2015. The two new nursing homes were awarded by Ministry of Health at a tender exercise in 2013. 360 CARE 63
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
26. Financial Risk Management Objectives and Policies
The main risks from the Home’s financial instruments are liquidity risk and credit risk. The policies for managing each of these risks are summarised below.
Liquidity Risk
Liquidity risk is the risk that the Home will not be able to meet its financial obligations as and when they fall due. The management’s exposure to liquidity risk arises primarily from mismatches of the maturities of financial assets and liabilities.
The Home reviews its working capital requirements to assess the adequacy of cash and cash equivalents to finance the operations.
Analysis of Financial Instruments by Remaining Contractual Maturities
The table below summarises the maturity profile of the Home’s financial assets and liabilities at the end of the reporting year based on contractual undiscounted repayment obligations.
2014 2013 1 year Total 1 year Total or less contractual or less contractual cash flow cash flow SGD SGD SGD SGD Financial assets Trade and other receivables 822,074 822,074 700,347 700,347 Other assets 351,031 351,031 120,566 120,566 Cash and cash equivalents 13,793,503 13,793,503 12,181,332 12,181,332 14,966,608 14,966,608 13,002,245 13,002,245
Financial liabilities Trade and other payables 1,533,761 1,533,761 1,524,976 1,524,976 Other liabilities 924,073 924,073 580,770 580,770 2,457,834 2,457,834 2,105,746 2,105,746 Total net undiscounted financial assets 12,508,774 12,508,774 10,896,499 10,896,499
Credit Risk
Credit risk is the risk of loss that may arise on outstanding financial instruments should a party default on its obligations. 64 All Saints Home Annual Report
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
26. Financial Risk Management Objectives and Policies (continued)
Exposure to Credit Risk
The Home’s exposure to credit risk arises primarily from trade and other receivables. For other financial assets (including cash and cash equivalents), the Home minimises credit risk by dealing exclusively with high credit rating parties.
At the end of the reporting year, the Home’s maximum exposure to credit risk is represented by the carrying amount of each class of financial assets recognised in the statement of financial position.
Credit Risk Concentration Profile
The Home has no significant concentration of credit risk.
Financial Assets that are Neither Past Due nor Impaired
Trade and other receivables that are neither past due nor impaired are creditworthy debtors with good payment record with the Home. Cash and cash equivalents, that are neither past due nor impaired are placed with or entered into with reputable companies with high credit ratings and no history of default.
Financial Assets that are Either Past Due or Impaired
Information regarding financial assets that are either past due or impaired is disclosed in Note 15 (trade receivables).
27. Fair Value of Financial Assets And Financial Liabilities
The carrying amounts of cash and cash equivalents, trade and other current receivables and payables, provisions and other liabilities and amounts payable approximate their respective fair values due to the relatively short- term maturity of these financial instruments.
28. Classification of Financial Assets and Liabilities
The following table summarises the carrying amount of financial assets and liabilities recorded at the end of the reporting year by FRS 39.
2014 2013 SGD SGD Loans and receivables 14,652,090 12,627,248 Financial liabilities at amortised cost 2,457,834 2,105,746 360 CARE 65
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
29. New Accounting Standards and FRSs Interpretations
At the date of authorisation of these financial statements, the following FRSs, INT FRSs and amendments to FRS that are relevant to the Home were issued but not yet effective:
Description Effective for annual periods beginning on or after Amendments to FRS 19: Defined Benefit Plans – Employee Contributions 1 July 2014
Improvements to FRSs (January 2014) Amendments to FRS 16 Property, Plant and Equipment 1 July 2014 Amendments to FRS 24 Related Party Disclosures 1 July 2014
The directors expect that the adoption of the standards and interpretations above will have no material impact on the financial statements in the period of initial application.
30. Comparative Figures Certain comparative figures had been reclassified where necessary to conform with current year presentation. Previously Current year Reported reclassification 2013 2013 SGD SGD Statement of Financial Activities INCOME Income from charitable activities Other miscellaneous income 16,669 - Other income 26,984 43,653
EXPENDITURE Cost of fund generating activities - Audit fee for recurrent subvention 2,657 - Governance costs - Auditors' remuneration 13,979 16,636
Charitable Activities 9,898,940 7,442,775
Other operating and administration expenditures - 2,456,165 66 All Saints Home Annual Report
NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2014
31. Authorisation of Financial Statements for Issue
These financial statements were authorised for issue by the Board of Directors on the date shown on Statement by Directors. 360 CARE 67