REGISTERED COMPANY NUMBER: 02740665 (England and Wales)
REGISTERED CHARITY NUMBER: 1014232
REPORT OF THE TRUSTEES AND
AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2021
FOR
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
GMP Audit Limited
82 High Street
Tenterden
Kent
TN30 6JG
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021
----- Start of picture text -----
Page
Report of the Trustees 1 to 7
Report of the Independent Auditors 8 to 10
Statement of Financial Activities 11
Balance Sheet 12 to 13
Cash Flow Statement 14
Notes to the Cash Flow Statement 15
Notes to the Financial Statements 16 to 28
----- End of picture text -----
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED (REGISTERED NUMBER: 02740665)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present
theirreportwiththefinancialstatementsofthecharityfortheyearended31stMarch2021.The trustees
haveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and significant activities
TheobjectsofRye,Winchelsea&DistrictMemorialHospitalLimited(TheCharity)aretherelief,care and
assistanceofpeople,irrespectiveofrace,creedorcolour,whosufferfromanyformofmentalor physical
sicknessordisabilityorinfirmityduetooldageorwhoareconvalescent,andtopromote the
preservation and protection of health for the public benefit.
Activitiesarepredominantlyconfinedtothe10acresiteknownastheMemorialCareCentre (the
Centre). Within the bounds of the site are five main components:
-TheMedicalCentrewhichwasdevelopedbyCommunityCareInvestmentletona125yearlease from
6 October 2006 and then sub-let as a GP surgery for a panel of 7,500 patients.
-StBartholomew'sCourt,a55unitresidentialcomplex,originallyletas30unitstoShaftesbury Housing
Associationona125yearleasefrom1January1994.Designedasanextracarefacility,overtime it
lapsedintopuresocialhousing.TheleasewasassignedtoSanctuaryHousingAssociationandthrough a
collaborativedialogueamajornewdevelopmenthasbeencompletedbythemwhichadded25new single
bedunitsandcompletelyguttedandrefurbishedtheexisting30units.40oftheunitsareletunder a
communityrentalschemeand15unitshavebeensoldassharedequity.Allfutureoccupierswillhave an
extra care need of up to 20 hours a week under the revised terms of the ground lease from the Charity.
-TheHospitalBuilding.TwothirdsofthebuildingwasleasedtothePrimaryCareTrust(PCT)for 10
yearsexpiringonthe30thMay2020.TheleasewasassignedtotheEastSussexHealthcareTrust (ESHT)
on1April2013astheNHSserviceprovider,uponthedemiseofthePCT.ADeedofVariationhas been
executedwiththeCharitytoextendtheleaseto30thMay2030withamutualoptiontoterminate in
2025.Throughanumberofnegotiatedchangessincethen,ESHTnowoccupythewholeofthe ground
floorwithofficesonthefirstfloorandnowpayaservicechargeof87%.InadditiontheMutualOption to
terminatetheleasehasbeenremovedandESHThaveafixedtermto2030,allofthisbeingembodied in
arevisedlease.Therentpayableisfixedat£150kperannumbutforthefirsttwoyearstheCharity will
make a donation back to ESHT of £25k to reduce the impact of the rent rise to market value.
-TheAmbulanceSite.TheCharityacquiredthissiteadjacenttothehospitalin2016and obtained
PlanningConsenttobuilda5,500squarefootCommunityWellbeingCentre(TheHub).Worktobuild the
sitewascompetitivelytenderedandwonbyJenneratacontractpriceofjustunder£2m. Construction
wascompletedinAugust2020butimpactedbytheCOVIDrestrictions.Corelicencestoanumber of
importanttherapyprovidershavebeenagreed:suchasSt.Michael'sHospice;RyeandDistrict Day
Centre and Sara Lee Trust. Plans are being actively developed to broaden its community outreach.
Page 1
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED (REGISTERED NUMBER: 02740665)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021
Objectives and significant activities (continued)
-TheCareHomeSite.TheCharityhascompletedthepurchaseofa1.5acrepieceofagricultural land
adjoiningthesurgeryattherearoftheCentre,withitsownaccesstoRyeHillforthepurpose of
developingaCareHome.AftercompetitivereviewGreensleeveswereselectedasthepreferred developer
andoperatoroftheproposedCareHomesubjecttoa£1.06mprepaymentforthelongleasehold interest.
Planningpermissionwasobtainedforthedevelopmentofa60bedCareHome.TheCharityhas delivered
theutilitiestothesite,aspartofitscommitment,toenablethedevelopmentofthe project.
GreensleevesexpecttostartconstructioninMarch2022afterinnumerabledelaysingettingUK Power
Networkstoremovetheoverheadwirestothesite.Itishopedthatcompletionwilltakeplacein the
springof2023.AnimportantfeatureoftheGroundLeasegrantedtoGreensleevesistheir commitment
that25%ofthebedswillbecommunitysubsidisedforthebenefitoflocalresidentsratherthanfull open
market.GreensleeveswererecentlyidentifiedbytheWhichReportasthebestNot-For-Profitprovider in
the Country.
WhenplanningitsactivitiestheCharitykeepsinmindtheCharityCommission'sguidanceon public
benefitandaimstodevelopanddeliverservicestomeettheobjectivesassetoutinthe Memorandum
and Articles of Association.
The Friends of the Hospital at Rye
Priortothedevelopmentofthecurrenthospital,itwasvoluntarilysupportedbyTheFriendsofthe Rye
WinchelseaandDistrictMemorialHospital,raisingfundsandprovidingvoluntaryassistanceas a
registeredcharity.Whenthelargescaledevelopmentofthesitetookplacebetween1992and1994 a
separatecharity,thencalledRyeHealthandCareLtd(precedingtitleofthischarity)wasformedas a
companylimitedbyguaranteetoassumethedevelopmentrisk.Thetwocharitieshadbeen mutually
supportiveeversincebutin2013theyagreedthatthetimewasappropriatetomerge.Nownamed The
FriendsoftheHospitalatRye(theFriends),itisaCommitteeofthischarityassumingresponsibility for
liaison with the staff and fund raising the needs they identify for the hospital.
ArollingprogrammeoffundraisingactivitiesandeventsiscarriedoutbytheFriendswithinthe local
community.Eventsaregeneratedeitherfromthecharity'sofficesororganisedbyexternalvolunteers. In
addition,thecharityseeksincomefromregulardonationsenhancedbytheGiftAidScheme and
appropriate management of its investment assets.
Volunteers
ThepositionsofChairmanoftheFriendsandtheChairmanoftheFundRaisingSubCommittee are
unsalaried positions.
TheCompanySecretaryandSeniorAdministrativeOfficerisnowafulltimepostwith60%ofher time
dedicatedtohospitalactivitiesand40%tomanagingtheHub.Allfundraisingactivitiesareplanned and
co-ordinatedbyandthroughtheaforementionedposts,withassistanceappropriatetoeachactivity being
provided solely by unpaid volunteers.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
TheCharitycontinuedduringtheperiodunderreviewinitsprincipalactivityasfreeholderof the
MemorialCareCentre.Thenetsurplusfortheyearbeforeunrealisedprofitsoninvestments (£119,989)
was£98,118afterallowingforthedepreciationandimpairmentoftheCharity'srealpropertyand fittings
and fixtures in a sum of £121,271.
TheCharityowesadutytothepeopleofRye,Winchelseaandthesurroundingvillagestosecure the
provisionofcommunityhospitalservicesattheCentre.Hithertotheseserviceshavebeenprovided in
partnershipwithourlocalPCTandmorerecentlyfromESHTbutontermswhichrequirea substantial
contributionfromtheCharity.Forexample,eachyeartheCharityexpendssignificantfundstocarry out
improvementsforthebenefitofthepatients.Theexteriorpainting;refurbishmentofthereception area
and a large proportion of the out-patient upgrade, were all funded by the Charity.
Page 2
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED (REGISTERED NUMBER: 02740665)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021
Charitable activities (continued)
Additionally,althoughgovernmentpolicyisexpressedtobesupportiveofcommunityhospitalsthe reality
isthatthecurrenteconomicfinancialpositionofmanyHealthcareTrustshasmeantthat community
hospitalshavehadtheirbedsclosedtoachieveeconomies.TheCharity'sstrategyistodevelopa strong
workingbondwithESHTwhileretainingsignificantreservestoenableittorespondintheunlikely event
thattheydecidetoreduceor,even,withdrawitssupport.Withthecompletionoftheleaseextension to
ESHT,theTrusteestooktheviewthatsomeofitsreservesheldagainstthisriskshouldbereleased to
assist in funding the Hub on the Ambulance Site.
Investment performance
Investmentperformancehasbeenachievedagainsttheobjectivessetforthisperiod.Detailsofreturn on
investments can be found in the Statement of Financial Activities
FINANCIAL REVIEW
Investment policy and objectives
TheBoard'spolicyistoinvestinthepropertyandfacilitiestoprovidetheresourcesnecessaryfor the
charitytomeetitsobjectives.Anysurplusresourcesareplacedwithastockbrokerto invest
appropriately.
TheBoardhasresolvedtoretainMessrsBrewinDolphintoadviseandhandleitsgrowing investment
funds, with the condition that no investments are made directly in tobacco companies.
The Board has a formal Investment Policy which is reviewed annually.
Reserves policy
TheCharityhasunrestrictedgeneralreservesof£4,360,775atthebalancesheetdate,of which
£4,662,654relatestofixedassetswhichwouldhavetobedisposedofinordertorealisethefull fund
amount. The amount of general reserves excluding the building fund is a deficit of £301,879.
AsdetailedaboveitistheCharity'sstrategytobuildreserves(incashandreadilyrealisable investments)
tosupportthecontinuationoftheHospitalshouldfundingbereducedorwithdrawn.TheBoard reviews
theextentofthesereservesonaregularbasis,balancingtheriskofESHTterminatingitsuseof the
hospital with the desire to invest surplus funds for the benefit of the community.
The Board has a Reserves Policy which is reviewed annually
Restricted funds amount to £7,621.
Page 3
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED (REGISTERED NUMBER: 02740665)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2021
FUTURE PLANS
Inlightofthecharity'ssustainedannualcashsurplustheTrusteesdecidedtocommissionan independent
reportfromDrHelenTucker(ChairmanoftheNationalCommunityHospitalAssociation)toidentify future
communityhealthneedsandadvisethekindsofinvestmentthecharityshouldcommitto,toremain true
to its mission.
ThecoreresponsibilityoftheCharityisthehospitalitselfandtheCharityhassupportedthehospitalin its
roleasanIntermediateCareFacility,itsaimsbeingtoprovideacarepathwaybetweenacute treatment
inaDistrictGeneralHospital(DGH)andhome.Particularemphasisisplacedonremedialtherapy and
physiotherapytoensurepatientsarebetterabletocopewiththetransitionfromhospitalto home.
IntermediateCareHospitalsalsoprovidestepuptherapyfromhomewhichavoidstheneedtobecome a
patientataDGH.Thegymnasiumandequipmentplusthenewkitchenandlaundryhaveallenhanced the
servicecomponenttopatients.DrTuckeridentifiedthefutureneedforaMinorInjuryandIllness Unit
withX-Rayandradiographysupportasthenextimportantinvestmenttobringdiagnosticscloser to
home.
FromabroaderhealthperspectiveDrTuckernotedthatlargenumbersofelderlyandfrailpeople are
locatedinCareHomesaconsiderabledistancefromRye.TheEastSussexCountyCouncilsupported this
identifiedneedwithitsDemandMappingreport.TheCharitypurchasedtheadjacentsitetothe hospital
of1.5acres.FollowingacompetitivereviewtheCharityhasselectedGreensleevesasits preferred
developerandproviderandhascompleteda125yearGroundLease.PlanningPermissionfora60 bed
ResidentialCarehomehasbeenobtained.Theleasetermsprovideaconditionthat25%ofthebeds be
designatedascommunitybedsforlocalresidents.Utilityconnectionstothesitehavebeendelivered and
construction is due to commence in March 2022 with completion scheduled for Spring 2023.
DrTucker'sthirdandfinalrecommendationwasthattheAmbulanceSitecouldbedevelopedasa 5500
sq.ft.Hub.Thisnowprovidesamuchneededservicethatprovidestherapy;healthactivities and
catering.InthelightoftheCharity'ssustainedsurplusesthisproject,knownasTheHubonRyeHill, will
deliberatelyrunatanoperatinglosstofulfilitsmissiontodeliveritsservicestothecommunityatas low
a sustainable cost as possible.
Physiotherapy,rehabilitationanddiagnosticservicesarecentraltoIntermediateCareHospitalsand the
charity continues to seek ways of bringing a wide range of these services to its out-patient clinics.
IntheperiodfollowingtheendoftheAccountingYeartheBoardhascommittedtoamajor capital
improvementplantoreplacetheexistingboilers;ManagementSystemandventilationwithanair cooled
heatingsystem;Photo-VoltaicCellsandairconditioningtomaketheHospitaloneofthefirstin the
country to be substantially Carbon Neutral.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Rye,Winchelsea&DistrictMemorialHospitalLimitedisacompanylimitedbyguarantee.Thecompany is
governedbyitsMemorandumandArticlesofAssociation,whichsetouttheobjectsandpowersof the
company and its directors. It also provides for the appointment of new directors.
Recruitment and appointment of new trustees
Trusteesarerecruitedandappointedfrommembersofthelocalcommunitywhowishtoassist the
charity. Care is taken to ensure that an appropriate range of skills is represented
Page 4
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED (REGISTERED NUMBER: 02740665)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
TheBoardmeetsquarterly.Inaddition,itcarriesoutitsresponsibilitiesthroughanumberof committees
whosemembersaredrawnfromtheBoardandfromappropriatedcommunityvolunteerswith relevant
skills.InthecaseofFundRaising,participationisdrawnfromtheCharity'sexcellentnetwork of
supporters.Thecommitteesmeetasoftenasnecessary.Duringtheyearthesecommittees comprised:
Clinical;Development;FundRaising;InvestmentandGovernance.TheBoardisabletoharness the
adviceofthesecommitteesanddevelopitsstrategicprioritiesmoreparticularlydescribedunderPlans for
Future Periods.
InMay2020MrMartynPhillipsretiredfromtheBoardandbecametheChiefOperatingofficerona part
time basis, in light of the increasing operational demand posed by the opening of the Hub
ThedaytodayadministrationoftheCharityisdelegatedtotheCompanySecretaryand Senior
Administrative Officer, Mrs Francesca Clent.
Induction and training of new trustees
Newtrusteesundergoashortinductionprogrammewiththecharity'sadministratorandtrainingis made
available dependent of the needs of the trustee. Each Board Member is given a full formal Induction Pack.
Wider network
OtherthanmembershipoftheCommunityHospitalsAssociation,thecharityisnotamemberofa wider
network.
Risk management
Thetrusteesconstantlymonitoranyriskstowhichthecharitymaybeexposedandareconfident that
procedureshavebeenestablishedtomanagetheserisks.AformalRiskpolicyhasbeenadoptedand is
reviewed annually.
Fund raising approach and standards
TheCharityraisesfundstosupporttheHospitalthroughavoluntaryFundRaisingCommitteeof the
Friends, supported by the Company Secretary and Senior Administrative Officer.
Thescaleoftheseactivitiesaremodestwithnomorethanteneventsayearwithatargetbudget of
£15k.
TheCharityobservestherequirementsoftheCharitiesAct1992withregardtosolicitation.Marketing is
done by use of the website, printed fliers and word of mouth to its regular supporters.
The Charity also takes care to observe the requirements of the Data Protection legislation.
COVID-19
ThecurrentepidemichashadasignificantimpactontheoperationofTheHospitalandtheopeningof the
CommunityWellbeingCentre(Hub).TheCharityhasacommitmenttofollowallthe Government
guidelinesforuseandoccupancyandhassoughtexternaladvicetoensurecompliance.It's financial
position is such that it is well able to cope with any financial impact that the epidemic may pose.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
02740665 (England and Wales)
Registered Charity number
1014232
Registered office
The Memorial Care Centre
Peasmarsh Road
Rye Foreign, Rye
East Sussex
TN31 7UD
Page 5
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED (REGISTERED NUMBER: 02740665)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2021
Trustees
B M Nealon - Chairman
Mrs S Compton - Vice Chairman (resigned 20/1/2021)
Dr H B J Chishick (resigned 20/1/2021)
Mrs C A Rowsell (resigned 15/11/2021)
Mrs J C Kirkham
J J Huddle
Dr E M Bamji
Mrs J S Dudfield
Dr M K Kondagari
M H Phillips (resigned 29/5/2020)
Dr R A McNeilly NHS Doctor
P J A Riley
I Potter (appointed 20/1/2021)
Ms J J Posnette (appointed 20/1/2021)
B P Baker (appointed 20/1/2021)
Honorary appointments
Patron
Sir Paul McCartney
Presidents
Mrs A Phillips
Vice Presidents
J M Stevenson
Rev W Buxton
Honorary member
A M Oliphant
Company Secretary
Mrs K Gurney (retired June 2020)
Mrs F J Clent (appointed June 2020)
Auditors
GMP Audit Limited
82 High Street
Tenterden
Kent
TN30 6JG
Solicitors
Whitehead Monckton
3-4 Market Square
Tenterden
Kent
TN30 6BN
Bankers
HSBC
4 Robertson Street
Hastings
East Sussex
TN34 1HW
Page 6
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED (REGISTERED NUMBER: 02740665)
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2021
STATEMENT OF TRUSTEES' RESPONSIBILITIES
Thetrustees(whoarealsothedirectorsofRye,WinchelseaandDistrictMemorialHospitalLimitedfor the
purposesofcompanylaw)areresponsibleforpreparingtheReportoftheTrusteesandthe financial
statementsinaccordancewithapplicablelawandUnitedKingdomAccountingStandards(United Kingdom
Generally Accepted Accounting Practice).
Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyearwhichgive a
trueandfairviewofthestateofaffairsofthecharitablecompanyandoftheincomingresources and
applicationofresources,includingtheincomeandexpenditure,ofthecharitablecompanyforthat period.
In preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewith reasonable
accuracyatanytimethefinancialpositionofthecharitablecompanyandtoenablethemtoensure that
thefinancialstatementscomplywiththeCompaniesAct2006.Theyarealsoresponsiblefor safeguarding
theassetsofthecharitablecompanyandhencefortakingreasonablestepsfortheprevention and
detection of fraud and other irregularities.
In so far as the trustees are aware:
-
there is no relevant audit information of which the charitable company's auditors are unaware; and
-
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
ThisreporthasbeenpreparedinaccordancewiththespecialprovisionsofPart15oftheCompanies Act
2006 relating to small companies.
Approved by order of the board of trustees on 8th December 2021 and signed on its behalf by:
B M Nealon - Trustee
Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
Opinion
WehaveauditedthefinancialstatementsofRye,WinchelseaandDistrictMemorialHospitalLimited (the
'charitablecompany')fortheyearended31stMarch2021whichcomprisetheStatementof Financial
Activities,theBalanceSheet,theCashFlowStatementandnotestothefinancialstatements,including a
summaryofsignificantaccountingpolicies.Thefinancialreportingframeworkthathasbeenapplied in
theirpreparationisapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdom Generally
Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31st March 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK)) and
applicablelaw.Ourresponsibilitiesunderthosestandardsarefurtherdescribedinthe Auditors'
responsibilitiesfortheauditofthefinancialstatementssectionofourreport.Weareindependentof the
charitablecompanyinaccordancewiththeethicalrequirementsthatarerelevanttoourauditof the
financialstatementsintheUK,includingtheFRC'sEthicalStandard,andwehavefulfilledour other
ethicalresponsibilitiesinaccordancewiththeserequirements.Webelievethattheauditevidence we
have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcern basis
of accounting in the preparation of the financial statements is appropriate.
Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelating to
eventsorconditionsthat,individuallyorcollectively,maycastsignificantdoubtonthe charitable
company'sabilitytocontinueasagoingconcernforaperiodofatleasttwelvemonthsfromwhen the
financial statements are authorised for issue.
Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribed in
the relevant sections of this report.
Other information
Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisesthe information
includedintheAnnualReport,otherthanthefinancialstatementsandourReportofthe Independent
Auditors thereon.
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttothe extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheother information
and,indoingso,considerwhethertheotherinformationismateriallyinconsistentwiththe financial
statementsorourknowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.If we
identifysuchmaterialinconsistenciesorapparentmaterialmisstatements,wearerequiredto determine
whetherthisgivesrisetoamaterialmisstatementinthefinancialstatementsthemselves.If,based on
theworkwehaveperformed,weconcludethatthereisamaterialmisstatementofthisother information,
we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
WehavenothingtoreportinrespectofthefollowingmatterswheretheCharities(Accountsand Reports)
Regulations 2008 requires us to report to you if, in our opinion:
-
the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
-
the charitable company has not kept adequate accounting records; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
we have not received all the information and explanations we require for our audit.
Page 8
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
Responsibilities of trustees
AsexplainedmorefullyintheStatementofTrustees'Responsibilities,thetrustees(whoarealso the
directorsofthecharitablecompanyforthepurposesofcompanylaw)areresponsibleforthe preparation
ofthefinancialstatementsandforbeingsatisfiedthattheygiveatrueandfairview,andfor such
internalcontrolasthetrusteesdetermineisnecessarytoenablethepreparationoffinancial statements
that are free from material misstatement, whether due to fraud or error.
Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharitable company's
abilitytocontinueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcern and
usingthegoingconcernbasisofaccountingunlessthetrusteeseitherintendtoliquidatethe charitable
company or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
WehavebeenappointedasauditorsunderSection144oftheCharitiesAct2011andreport in
accordance with the Act and relevant regulations made or having effect thereunder.
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawhole are
freefrommaterialmisstatement,whetherduetofraudorerror,andtoissueaReportofthe Independent
Auditorsthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnot a
guaranteethatanauditconductedinaccordancewithISAs(UK)willalwaysdetecta material
misstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterial if,
individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisions of
users taken on the basis of these financial statements.
Irregularities,includingfraud,areinstancesofnon-compliancewithlawsandregulations.We design
proceduresinlinewithourresponsibilities,outlinedabove,todetectmaterialmisstatementsinrespect of
irregularities,includingfraud.Theextenttowhichourproceduresarecapableofdetecting irregularities,
including fraud is detailed below:
-Discussionswiththetrusteeswhichincludedconsiderationofknownorsuspectedinstances of
non-compliance with laws and regulations and fraud.
-Reviewing,evaluatingandtestingsystemsandcontrolstoassesstheireffectivenesstoprevent and
detect irregularities.
- Identifying, reviewing and testing of journal entries.
-Challengingassumptionsandjudgementsmadebythetrusteesinrespectofsignificant accounting
estimates.
-ReviewingminutesofTrusteeMeetingsforknownorsuspectedinstancesofnon-compliancewith laws
and regulations and fraud.
Thereareinherentlimitationsintheauditproceduresdescribedaboveandthefurther removed
non-compliancewithlawsandregulationsisfromtheeventsandtransactionsreflectedinthe financial
statements,thelesslikelywewouldbecomeawareofit.Also,theriskofnotdetectinga material
misstatementduetofraudishigherthantheriskofnotdetectingoneresultingfromerror,asfraud may
involvedeliberateconcealmentby,forexample,forgeryorintentionalmisrepresentations,or through
collusion.
Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedon the
FinancialReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.Thisdescription forms
part of our Report of the Independent Auditors.
Page 9
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF RYE, WINCHELSEA AND DISTRICT MEMORIAL HOSPITAL LIMITED
Use of our report
Thisreportismadesolelytothecharitablecompany'strustees,asabody,inaccordancewithPart4 of
theCharities(AccountsandReports)Regulations2008.Ourauditworkhasbeenundertakensothat we
mightstatetothecharitablecompany'strusteesthosematterswearerequiredtostatetothemin an
auditors'reportandfornootherpurpose.Tothefullestextentpermittedbylaw,wedonotaccept or
assumeresponsibilitytoanyoneotherthanthecharitablecompanyandthecharitable company's
trustees as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of GMP Audit Limited
Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006
82 High Street
Tenterden
Kent
TN30 6JG
8th December 2021
Page 10
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST MARCH 2021
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
6
Premises costs
Hub on the Hill
Other trading activities
4
Investment income
5
Total
EXPENDITURE ON
Raising funds
7
Charitable activities
8
Premises costs
Grants payable
Hub on the Hill
Other
Total
Net gains/(losses) on investments
NET INCOME
Transfers between funds
22
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
funds
£
187,032
368,423
12,910
13,742
10,829
592,936
22,759
406,058
5,300
65,356
2,930
502,403
118,186
208,719
44,111
252,830
4,107,945
4,360,775 |
Restricted
funds
£
6,650
-
-
-
-
6,650
-
868
-
-
-
868
-
5,782
(44,111)
(38,329)
45,950
7,621 |
2021
Total
funds
£
193,682
368,423
12,910
13,742
10,829
599,586
22,759
406,926
5,300
65,356
2,930
503,271
118,186
214,501
-
214,501
4,153,895
4,368,396 |
2020
Total
funds
£
115,121
334,885
-
19,867
20,194
490,067
26,257
315,109
5,300
-
-
346,666
(38,309)
105,092
-
105,092
4,048,803
4,153,895 |
|
|
|
|
|
The notes form part of these financial statements
Page 11
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED (REGISTERED NUMBER: 02740665)
BALANCE SHEET
31ST MARCH 2021
Notes
FIXED ASSETS
Tangible assets
15
Investments
Investments
16
Investment property
17
CURRENT ASSETS
Debtors
18
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
19
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one
year
20
NET ASSETS
FUNDS
22
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Unrestricted
Restricted
funds
funds
£
£
4,662,654
-
731,993
-
1
-
5,394,648
-
62,070
-
238,803
7,621
300,873
7,621
(102,268)
-
198,605
7,621
5,593,253
7,621
(1,232,478)
-
4,360,775
7,621 |
2021
Total
funds
£
4,662,654
731,993
1
5,394,648
62,070
246,424
308,494
(102,268)
206,226
5,600,874
(1,232,478)
4,368,396
4,360,775
7,621
4,368,396 |
2020
Total
funds
£
4,487,518
559,271
1
5,046,790
126,120
482,185
608,305
(258,402)
349,903
5,396,693
(1,242,798)
4,153,895
4,107,945
45,950
4,153,895 |
|
|
|
|
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006
for the year ended 31st March 2021.
Themembershavenotdepositednotice,pursuanttoSection476oftheCompaniesAct2006requiring an
audit of these financial statements.
-
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
ThesefinancialstatementshavebeenauditedundertherequirementsofSection145oftheCharities Act
2011.
The notes form part of these financial statements
continued...
Page 12
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED (REGISTERED NUMBER: 02740665)
BALANCE SHEET - continued
31ST MARCH 2021
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable
companies subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
8th December 2021 and were signed on its behalf by:
B M Nealon - Trustee
The notes form part of these financial statements
Page 13
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2021
Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Dividends received
Net cash used in investing activities
Change in cash and cash
equivalents in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the
end of the reporting period |
2021
£
104,355
104,355
(296,408)
(189,129)
134,592
63
10,766
(340,116)
(235,761)
482,185
246,424 |
2020
£
126,876
126,876
(1,397,052)
(111,659)
103,128
5,589
14,605
(1,385,389)
(1,258,513)
1,740,698
482,185 |
|
|
|
The notes form part of these financial statements
Page 14
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2021
1. |
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM |
OPERATING ACTIVITIES |
OPERATING ACTIVITIES |
|
|
2021 |
2020 |
|
|
£ |
£ |
|
Net income for the reporting period (as per the Statement |
|
|
|
of Financial Activities) |
214,501 |
105,092 |
|
Adjustments for: |
|
|
|
Depreciation charges |
121,271 |
92,415 |
|
(Gain)/losses on investments |
(118,186) |
38,309 |
|
Interest received |
(63) |
(5,589) |
|
Dividends received |
(10,766) |
(14,605) |
|
Decrease in debtors |
64,050 |
17,322 |
|
Decrease in creditors |
(166,452) |
(106,068) |
|
Net cash provided by operations |
104,355 |
126,876 |
2. ANALYSIS OF CHANGES IN NET FUNDS
Net cash
Cash at bank and in hand
Total |
At 1/4/20
£
482,185
482,185
482,185 |
Cash flow
At 31/3/21
£
£
(235,761)
246,424
(235,761)
246,424
(235,761)
246,424 |
|
|
|
The notes form part of these financial statements
Page 15
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2021
1. STATUTORY INFORMATION
Rye,WinchelseaandDistrictMemorialHospitalLimitedisaprivatecharitablecompanylimited by
guarantee,registeredinEnglandandWales.Thecompany'sregisterednumberand registered
officeaddresscanbefoundinthereferenceandadministrativedetailsintheReportof the
Trustees.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102,
havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'Accountingand Reporting
byCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheir accounts
inaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland
(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancial Reporting
StandardapplicableintheUKandRepublicofIreland'andtheCompaniesAct2006.The financial
statementshavebeenpreparedunderthehistoricalcostconvention,withtheexception of
investments which are included at market value, as modified by the revaluation of certain assets.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.
Fees, contributions and grants comprise of amounts receivable during the year.
Receiptofalegacy,inwholeorinpart,isonlyconsideredprobablewhentheamountcan be
measuredreliablyandthecharityhasbeennotifiedoftheexecutor•sintentiontomake a
distribution.Wherelegacieshavebeennotifiedtothecharity,orthecharityisawareof the
grantingofprobate,andthecriteriaforincomerecognitionhavenotbeenmet,thenthelegacy is
treated as a contingent asset and disclosed if material.
Thevalueofdonateditemsisrecognisedwhentheassociatedraffleorauctionhastaken place
through the receipt of funds from these events.
Thevaluabletimegivenbyvolunteerstowardsthecharitiesobjectivesisnotvaluedfor the
purposes of these financial statements.
Investment income is recognised in the financial statements when receivable.
The lease premium income has been deferred over the period of the lease on a straight line basis.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will
berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure
isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they
have been allocated to activities on a basis consistent with the use of resources.
Costsinfurtheranceofthecharitableobjectivesarethosethatrelatedirectlytotheupkeep and
maintenance of the hospital including salaries.
Fundraisingexpenditurerepresentsthedirectcostsoffundraisingandincludesthesalaries and
otherdirectcostsoffundraisingstaff.Publicitycostsdirectlyrelatedtofundraisingareincluded in
the fundraising costs.
Management and administration costs include office costs and other expenditure including salaries.
continued...
Page 16
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021
2. ACCOUNTING POLICIES - continued
Tangible fixed assets
Fixedassetsarerecordedatcostor,incaseswhereassetshavebeendonated,atthevaluation at
the time of the acquisition.
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetsover its
useful economic life:
Freehold buildings |
- straight line over 100 years |
Freehold buildings - refurbishment |
- 10% or 20% on cost |
costs |
|
Assets in the course of construction |
- not depreciated until brought into use |
Furniture and equipment |
- 10% on cost |
No depreciation is provided on freehold land.
Investments
Listedinvestmentsareincludedatmarketvalueattheyearend.Gainsandlossesondisposal and
revaluation of investments are charged or credited to the Statement of Financial Activities.
Investment property
Investmentpropertyisshownatmostrecentvaluation.Anyaggregatesurplusordeficit arising
from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsof the
charity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedfor particular
restricted purposes.
Inthetrusteesopinion,wherenorestrictionsareplaced,theincomingresourcesand resources
expendedareallderivedforthebenefitofrunningthehospitalpremises.Thereforethe trustees
choose to classify this income and expenditure as unrestricted.
Designatedfundscompriseunrestrictedfundsthathavebeensetasidebythetrustees for
particular purposes.
Debtors
Tradeandotherdebtorsarerecognisedatthesettlementamountdueafteranytrade discount
offered.Prepaymentsarevaluedattheamountprepaidattheyearendaftertakingaccountof any
trade discounts due.
Creditors and provisions
Creditorsandprovisionsarerecognisedwherethecharityhasapresentobligationresultingfrom a
pasteventthatwillprobablyresultinthetransferoffundstoathirdpartyandtheamountdue to
settletheobligationcanbemeasuredorestimatedreliably.Creditorsandprovisionsare normally
recognised at their settlement amount after allowing for any trade discounts due.
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayable to
thecharitablecompany'spensionschemearechargedtotheStatementofFinancialActivities in
the period to which they relate.
continued...
Page 17
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021
3. DONATIONS AND LEGACIES
Donations
Gift aid
Legacies
Grants
Other income
Grants received, included in the above, are as follows:
CJRS grants
4.
OTHER TRADING ACTIVITIES
Fundraising events
Hub on the Hill Cafe
5.
INVESTMENT INCOME
Fixed asset investments
Deposit account interest
6.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Running costs recharged
to the ESHT
Premises costs
ESHT rent and
management charges
Premises costs
Other rents receivable
Premises costs
Other costs recharged
Premises costs
Licence fees
Hub on the Hill |
2021
£
23,560
3,117
155,778
6,403
4,824
193,682
2021
£
6,403
2021
£
2,887
10,855
13,742
2021
£
10,766
63
10,829
2021
£
149,725
134,426
80,531
3,741
12,910
381,333 |
2020
£
58,880
2,459
50,040
-
3,742 |
2020
£
58,880
2,459
50,040
-
3,742 |
2020
£
58,880
2,459
50,040
-
3,742 |
|
|
115,121 |
|
|
|
|
2020
£
-
2020
£
19,867
-
19,867
2020
£
14,605
5,589
20,194
2020
£
132,480
122,000
79,553
852
- |
2020
£
-
2020
£
19,867
- |
2020
£
- |
|
|
|
19,867 |
|
|
|
|
2020
£
14,605
5,589 |
|
|
|
|
20,194 |
|
|
|
334,885 |
|
|
continued...
Page 18
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021
7. RAISING FUNDS
Raising donations and legacies
Staff costs
Other fundraising costs
Support costs
Other trading activities
Purchases
Investment management costs
Portfolio management
Aggregate amounts
8.
CHARITABLE ACTIVITIES COSTS
Premises costs
Grants payable
Hub on the Hill |
Direct
Costs (see
note 9)
£
340,058
5,300
59,961
405,319 |
|
2021
£
4,528
821
-
5,349
2021
£
12,081
2021
£
5,329
22,759
Support
costs (see
note 10)
£
66,868
-
5,395
72,263 |
2020
£
8,530
12,878
900
22,308
2020
£
-
2020
£
3,949
26,257
Totals
£
406,926
5,300
65,356 |
2020
£
8,530
12,878
900 |
2020
£
8,530
12,878
900 |
|
|
|
|
|
22,308 |
|
|
|
|
|
|
|
2020
£
- |
|
|
|
|
|
2020
£
3,949
26,257 |
2020
£
3,949 |
|
|
|
|
477,582 |
|
|
continued...
Page 19
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021
9. DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Rates and water
Insurance
Light and heat
Telephone
Advertising
Running costs recharged to the ESHT
Contribution to Sara Lee Trust running costs
Running costs not recharged
Maintenance
Licences
Cleaning
Donations
Depreciation
10.
SUPPORT COSTS
Management
£
Other resources expended
-
Premises costs
54,044
Hub on the Hill
4,796
58,840 |
2021
£
96,562
1,574
1,605
7,863
1,998
415
97,031
5,300
43,768
11,000
1,473
7,111
8,348
121,271
405,319
Governance
costs
£
2,930
12,824
599
16,353 |
2020
£
61,798
-
-
-
-
-
82,037
5,300
37,516
-
-
-
6,322
92,415 |
2020
£
61,798
-
-
-
-
-
82,037
5,300
37,516
-
-
-
6,322
92,415 |
|
|
285,388 |
|
|
|
|
Totals
£
2,930
66,868
5,395 |
|
|
|
75,193 |
Support costs, included in the above, are as follows:
Management
Wages
Social security
Pensions
Repairs and maintenance
Office costs
Other expenses |
Premises
costs
£
38,146
2,814
548
2,517
5,321
4,698
54,044 |
Hub on
the Hill
£
-
-
-
-
-
4,796
4,796 |
2021
Total
activities
£
38,146
2,814
548
2,517
5,321
9,494
58,840 |
2020
Total
activities
£
9,595
729
288
640
1,894
5,370
18,516 |
|
|
|
|
|
continued...
Page 20
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021
10. SUPPORT COSTS - continued Governance costs
Other
resources
expended
£
Auditors' remuneration
-
Auditors' remuneration
for non audit work
2,930
Bank charges
-
Legal fees
-
2,930 |
Premises
costs
£
5,200
-
93
7,531
12,824 |
Hub on
the Hill
£
-
-
139
460
599 |
2021
Total
activities
£
5,200
2,930
232
7,991
16,353 |
2020
Total
activities
£
3,660
2,760
78
10,907
17,405 |
|
|
|
|
|
11. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
2021 |
2020 |
|
£ |
£ |
Auditors' remuneration |
5,200 |
3,660 |
Auditors' remuneration for non audit work |
2,930 |
2,760 |
Depreciation - owned assets |
121,272 |
92,415 |
Accountancy recharged to tenants |
6,305 |
6,225 |
12. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31stMarch2021nor for
the year ended 31st March 2020.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31stMarch2021norfortheyear ended
31st March 2020.
13. STAFF COSTS
STAFF COSTS |
|
|
Wages and salaries
Social security costs
Other pension costs |
2021
£
130,863
9,317
2,418
142,598 |
2020
£
73,204
6,531
1,205 |
|
|
80,940 |
The average monthly number of employees during the year was as follows:
Operation of the charity
Operation of Hub |
2021
3
3
6 |
2020
3
- |
|
|
3 |
No employees received emoluments in excess of £60,000.
continued...
Page 21
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2021
14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Premises costs
Other trading activities
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Premises costs
Grants payable
Total
Net gains/(losses) on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
funds
£
69,520
334,885
19,867
20,194
444,466
26,257
314,119
5,300
345,676
(38,309)
60,481
4,047,464
4,107,945 |
Restricted
funds
£
45,601
-
-
-
45,601
-
990
-
990
-
44,611
1,339
45,950 |
Total
funds
£
115,121
334,885
19,867
20,194
490,067
26,257
315,109
5,300
346,666
(38,309)
105,092
4,048,803
4,153,895 |
|
|
|
|
continued...
Page 22
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021
15. TANGIBLE FIXED ASSETS
TANGIBLE FIXED ASSETS |
|
|
|
COST
At 1st April 2020
Additions
Reclassification
At 31st March 2021
DEPRECIATION
At 1st April 2020
Charge for year
At 31st March 2021
NET BOOK VALUE
At 31st March 2021
At 31st March 2020 |
Assets in
the
Freehold
course of
property
construction
£
£
3,293,076
2,104,709
-
236,088
2,340,797
(2,340,797)
5,633,873
-
944,751
-
106,235
-
1,050,986
-
4,582,887
-
2,348,325
2,104,709 |
Fixtures
and
fittings
£
189,750
60,320
-
250,070
155,266
15,037
170,303
79,767
34,484 |
Totals
£
5,587,535
296,408
- |
|
|
|
5,883,943 |
|
|
|
1,100,017
121,272 |
|
|
|
1,221,289 |
|
|
|
4,662,654 |
|
|
|
4,487,518 |
Includedincostorvaluationoflandandbuildingsisfreeholdlandof£273,266(2020- £273,266)
which is not depreciated.
16. FIXED ASSET INVESTMENTS
FIXED ASSET INVESTMENTS |
|
|
|
|
|
Cash held |
|
|
Listed |
for |
|
|
investments |
investments |
Totals |
|
£ |
£ |
£ |
MARKET VALUE |
|
|
|
At 1st April 2020 |
450,093 |
109,178 |
559,271 |
Additions |
188,897 |
- |
188,897 |
Disposals |
(35,761) |
(97,028) |
(132,789) |
Revaluations |
116,614 |
- |
116,614 |
At 31st March 2021 |
719,843 |
12,150 |
731,993 |
NET BOOK VALUE |
|
|
|
At 31st March 2021 |
719,843 |
12,150 |
731,993 |
At 31st March 2020 |
450,093 |
109,178 |
559,271 |
There were no investment assets outside the UK. |
|
|
|
Cost or valuation at 31st March 2021 is represented by: |
|
|
|
|
|
Cash held |
|
|
Listed |
for |
|
|
investments |
investments |
Totals |
|
£ |
£ |
£ |
Cost |
719,843 |
12,150 |
731,993 |
continued...
Page 23
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021
17. INVESTMENT PROPERTY
INVESTMENT PROPERTY |
|
FAIR VALUE
At 1st April 2020
and 31st March 2021
AMORTISATION
At 1st April 2020
and 31st March 2021
NET BOOK VALUE
At 31st March 2021
At 31st March 2020 |
£
492,744 |
|
492,743 |
|
1 |
|
1 |
Included in investment property is freehold land valued at £1 (2020 - £1).
Thefreeholdlandacquiredduringtheyearended31March2019wassubsequentlyleasedto a
Trustforaperiodof125yearsfortheconstructionandrunningofacarehome,atapremium of
£1,060,000.IntheTrustees'opinionthelandhasnoopenmarketvalueanditsfairvalue has
therefore been reduced to £1.
18. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
VAT
Prepayments and accrued income |
2021
2020
£
£
11,940
56,982
22,396
46,237
27,734
22,901
62,070
126,120 |
2020
£
56,982
46,237
22,901 |
|
|
|
19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
Social security and other taxes
Other creditors
Deferred income |
2021
£
1,877
90,071
10,320
102,268 |
2020
£
1,500
246,582
10,320 |
|
|
258,402 |
Thecompanyacquiredthefreeholdlandon6October2006atacostof£250,000.Aproportion of
this has been leased to a GP practice on a 125 year lease at a premium of £230,000.
On6November2018thecompanyleasedafurtherareaoffreeholdlandtoaTrustfor the
construction of a care home at a premium of £1,060,000, for a period of 125 years.
TheabovepremiumshavebeendeferredandarebeingreleasedtotheStatementof Financial
Activitiesonastraightlinebasisoverthetermofthelease.Thedeferredelementsare shown
withinothercreditorsbothinshorttermandcreditors,amountsfallingdueaftermorethan one
year.
continued...
Page 24
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021
20. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
|
2021 |
2020 |
|
£ |
£ |
Deferred income |
1,232,478 |
1,242,798 |
21. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
|
2021 |
2020 |
|
£ |
£ |
Within one year |
1,260 |
1,125 |
Lease payments recognised as an expense in the year were £1,500 (2020: £1,500)
22. MOVEMENT IN FUNDS
MOVEMENT IN FUNDS |
|
|
|
|
|
|
Net |
Transfers |
|
|
|
movement |
between |
At |
|
At 1/4/20 |
in funds |
funds |
31/3/21 |
|
£ |
£ |
£ |
£ |
Unrestricted funds |
|
|
|
|
General fund |
1,319,449 |
329,990 |
(1,951,318) |
(301,879) |
Fixed assets |
2,788,496 |
(121,271) |
1,995,429 |
4,662,654 |
|
4,107,945 |
208,719 |
44,111 |
4,360,775 |
Restricted funds |
|
|
|
|
Nurses fund |
1,778 |
782 |
- |
2,560 |
District nurses fund |
61 |
- |
- |
61 |
Equipment fund |
- |
5,000 |
- |
5,000 |
Hub |
44,111 |
- |
(44,111) |
- |
|
45,950 |
5,782 |
(44,111) |
7,621 |
TOTAL FUNDS |
4,153,895 |
214,501 |
- |
4,368,396 |
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Fixed assets
Restricted funds
Nurses fund
Equipment fund
TOTAL FUNDS |
Incoming
resources
£
592,936
-
592,936
1,650
5,000
6,650
599,586 |
Resources
expended
£
(381,132)
(121,271)
(502,403)
(868)
-
(868)
(503,271) |
Gains and
losses
£
118,186
-
118,186
-
-
-
118,186 |
Movement
in funds
£
329,990
(121,271)
208,719
782
5,000
5,782
214,501 |
|
|
|
|
|
continued...
Page 25
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021
22. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Unrestricted funds
General fund
Fixed assets
Restricted funds
Nurses fund
District nurses fund
Hub
TOTAL FUNDS |
At 1/4/19
£
1,166,553
2,880,911
4,047,464
1,278
61
-
1,339
4,048,803 |
Net
movement
in funds
£
152,896
(92,415)
60,481
500
-
44,111
44,611
105,092 |
At
31/3/20
£
1,319,449
2,788,496 |
|
|
|
4,107,945
1,778
61
44,111 |
|
|
|
45,950 |
|
|
|
4,153,895 |
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Fixed assets
Restricted funds
Nurses fund
Hub
TOTAL FUNDS |
Incoming
resources
£
444,466
-
444,466
1,490
44,111
45,601
490,067 |
Resources
expended
£
(253,261)
(92,415)
(345,676)
(990)
-
(990)
(346,666) |
Gains and
losses
£
(38,309)
-
(38,309)
-
-
-
(38,309) |
Movement
in funds
£
152,896
(92,415)
60,481
500
44,111
44,611
105,092 |
|
|
|
|
|
continued...
Page 26
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021
22. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Fixed assets
Restricted funds
Nurses fund
District nurses fund
Equipment fund
Hub
TOTAL FUNDS |
At 1/4/19
£
1,166,553
2,880,911
4,047,464
1,278
61
-
-
1,339
4,048,803 |
Net
movement
in funds
£
482,886
(213,686)
269,200
1,282
-
5,000
44,111
50,393
319,593 |
Transfers
between
funds
£
(1,951,318)
1,995,429
44,111
-
-
-
(44,111)
(44,111)
- |
At
31/3/21
£
(301,879)
4,662,654
4,360,775
2,560
61
5,000
-
7,621
4,368,396 |
|
|
|
|
|
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
1,037,402
Fixed assets
-
1,037,402
Restricted funds
Nurses fund
3,140
Equipment fund
5,000
Hub
44,111
52,251
TOTAL FUNDS
1,089,653 |
Resources
expended
£
(634,393)
(213,686)
(848,079)
(1,858)
-
-
(1,858)
(849,937) |
Gains and
losses
£
79,877
-
79,877
-
-
-
-
79,877 |
Movement
in funds
£
482,886
(213,686)
269,200
1,282
5,000
44,111
50,393
319,593 |
|
|
|
|
Fixedassetshavebeenseparatelydesignatedtoshowthefreereservespositionatthe balance
sheet date.
AmountsdonatedtotheNursesbypatients,relativesandfriends,areheldinaseparatefund. This
is spent on refreshments and an annual party. Similarly there is a fund for the District Nurses.
Theequipmentfundrepresentsdonationsmadetothecharitytopurchasesmallitems of
equipmenttoassistwithpatientservices.Transfersfromthisfundtothedesignatedfixed assets
fundrepresentfundswhichhavebeenfullyexpended,thetermsofrestrictionappliedhave been
met and the associated fixed assets are an integral part of the fixed assets of the charity.
Thehubfundrepresentsdonationsmadetothecharitytohelptowardstheconstructionand fitting
out of the new community hub, which finished construction shortly after the year end.
continued...
Page 27
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2021
23. CAPITAL COMMITMENTS
Attheyearend,thecharityhadcommittedtospendingafurther£nil(2020:£220,347) with
regards to the building of the day care centre (The Hub).
Attheyearendtheboardhadcommittedtothepurchaseofmedicalequipmenttotalling £40,000
duringtheforthcomingyearto31March2022,althoughtheorderhadnotbeenmadeby31 March
2021.
24. RELATED PARTY DISCLOSURES
MrBNealon,atrustee,isthechairmanofRye&DistrictCommunityTransport,acharitythat Rye,
Winchelsea And District Memorial Hospital donated £8,000 (2020: £5,000) to in the year.
Totaldonationsreceivedfromtrusteesintheyearwithoutconditionswas£315(2020: £426).
Total donations received with conditions was £5,000 (2020 - Nil).
25. ULTIMATE CONTROLLING PARTY
The charity is controlled by the board of trustees.
26. CONTINGENT ASSETS
Attheyearendthecharityhadbeennotifiedoflegacieswherethevalueoftheestates or
settlementwereuncertain.Thereforenoamounthasbeenaccruedinrespectofthese legacies
which are estimated to be between £75,000 and £200,000.
Page 28