The home, which provides residential and sheltered accommodation for islanders, recorded a net profit of £59,500 for 2025, up from just £6,424 the year before, according to its latest audited accounts from 2025.
The 2024 financial result itself represented a significant turnaround from a loss of nearly £210,000 in 2023.
The turnaround was driven by an increase in fees and a growing range of community services. Income from care fees rose 13.6% to £2.23m., up from £1,96m. in 2024.
But the core care operation still ran at a loss, with running costs of just over £2.4m. leaving an operating loss of £177,247 – though that was a slight improvement on the previous year’s £186,168.
Bridging the gap was £265,435 in other income, most of it from services the home provides beyond its own residents. These included £172,786 from home help, £56,440 from the island’s meals on wheels service and £31,952 from the sale of consumables.
Staffing remained by far the largest cost. Wages and social security climbed to £1,872,822 from £1,711,179, as the average number of employees rose from 60 to 69 over the year.
The home also invested £194,886 in new equipment and improvements, the bulk of it £171,852 on fixtures and equipment, alongside IT and vehicle upgrades.
The stronger year left the company in a healthier position overall. Net assets grew to £581,141 from £521,641, while cash in the bank rose sharply to £426,030 from £303,816.
The company is wholly owned by the States of Alderney and holds charitable status, so pays no tax.
The operating agreement for the premises has expired after its five-year term. Heads of terms for a new lease have been agreed with the States of Alderney, with a draft now in the hands of the law officers in Guernsey.
An extension to the home was finally completed in 2025, five years after the project was agreed and coming in more than £1m. over budget. It should take the home’s residents to about 50 at any one time.
An independent report blamed poor budgeting and planning, contractual problems and governance failures.
There was also a dispute when four officials from the board of the charity which runs the home were removed from post without their knowledge.
The accounts are being placed before the States of Alderney at its meeting next week.
You need to be logged in to comment.