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 2023
FOR
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
GMP Audit Limited, Statutory Auditor
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 2023
----- 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 27
----- End of picture text -----
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present
theirreportwiththefinancialstatementsofthecharityfortheyearended31stMarch2023.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
yearsexpiringon30May2020.TheleasewasassignedtotheEastSussexHealthcareTrust(ESHT)on 1
April2013astheNHSserviceprovider,uponthedemiseofthePCT.ADeedofVariationhas been
executedwiththeCharitytoextendtheleaseto30May2030withamutualoptiontoterminatein 2025.
Throughanumberofnegotiatedchangessincethen,ESHTnowoccupythewholeofthegroundfloor with
officesonthefirstfloorandnowpayaservicechargeof87%.InadditiontheMutualOptionto terminate
theleasehasbeenremovedandESHThaveafixedtermto2030,allofthisbeingembodiedina revised
leasewhichwillbeshortlyexecuted.Therentpayableforthebalanceofthetermisfixedat£150k per
annum.
-TheAmbulanceSite.TheCharityacquiredthissiteadjacenttothehospitalin2016and obtained
PlanningConsenttobuilda5,500squarefootCommunityWellbeingCentre(TheHub).Worktobuild the
sitewascompetitivelytenderedandwonbyJenneratacontractpriceofjustunder£2m. Construction
wascompletedinAugust2020butimpactedbytheCOVIDrestrictions.Corelicencestoanumber of
importanttherapyprovidershavebeenagreed:suchasSt.Michael'sHospice;RyeandDistrict Day
CentreandSaraLeeTrust.AverypopularcoffeeshopmakestheHubanimportantcommunity meeting
place. Plans are being actively developed to broaden its community outreach.
Page 1
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
Objectives and significant activities (continued)
-TheCareHomeSite.TheCharityhascompletedthepurchaseofa1.5acrepieceofagricultural land
adjoiningthesurgeryattherearoftheCentre,withitsownaccesstoRyeHillforthepurpose of
developingaCareHome.AftercompetitivereviewGreensleeveswereselectedasthepreferred developer
andoperatoroftheproposedCareHomesubjecttoa£1.06mprepaymentforthelongleasehold interest.
Planningpermissionwasobtainedforthedevelopmentofa60bedCareHome.TheCharityhas delivered
theutilitiestothesite,aspartofitscommitment,toenablethedevelopmentoftheproject. High
inflationandtheimpactofCOVIDonthecareindustryhasdelayedthestartof development.
GreensleevesexpecttostartconstructioninMarch2024.AnimportantfeatureoftheGround Lease
grantedtoGreensleevesistheircommitmentthat25%ofthebedswillbecommunitysubsidisedfor the
benefitoflocalresidentsratherthanfullopenmarket.Greensleeveswererecentlyidentifiedbythe Which
Report as the best Not-For-Profit provider in the Country.
TheNHShashaddifficultyinrecruitingoverseasstafftothehospitalbecauseofproblemsin finding
affordablelivingaccommodationinRye.TheCharityhasleased3ForgeMewscapableofhousing three
nurses and to date two have taken occupancy, alleviating the staffing pressure.
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 fundraising to alleviate the identified needs of the hospital.
ArollingprogrammeoffundraisingactivitiesandeventsiscarriedoutbytheFriendswithinthe local
community.EventsaregeneratedeitherfromtheCharity'sofficesororganisedbyexternalvolunteers. In
addition,theCharityseeksincomefromregulardonationsenhancedbytheGiftAidScheme and
appropriate management of its investment assets.
Volunteers
ThepositionsofChairmanoftheFriendsandtheChairmanoftheFundRaisingSubCommittee are
unsalaried positions.
TheCompanySecretaryandSeniorAdministrativeOfficerhasbeenafulltimepostsinceMay2020, with
40%ofhertimededicatedtohospitalactivitiesand60%toCharityactivities.Allfundraising activities
areplannedandco-ordinatedbyandthroughtheaforementionedpost,withassistanceappropriate to
each activity being provided solely by unpaid volunteers.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
TheCharitycontinuedduringtheperiodunderreviewinitsprincipalactivityasfreeholderof the
MemorialCareCentre.Thenetsurplusfortheyearbeforeunrealisedlossesoninvestments(£2,752) was
£74,169afterallowingforthedepreciationandimpairmentoftheCharity'srealpropertyandfittings and
fixtures in a sum of £89,133.
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
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
Charitable activities (continued)
Theplantandequipmentinthehospitalisnow30yearsoldandoverthelasttwoyearshas needed
significantexpenditureonrepairs.Externalconsultantswereinstructedtocarryoutathorough review
andadvisedthatmostoftheequipmentwascomingtotheendofitsusefullife.TheBoarddecidedthat it
wishedthehospitaltobecomethefirstcarbonneutralhospitalinthecountryandcommissionedDMA to
installphoto-voltaiccellsontheroofs,Teslabatteriestostorethepowergeneratedandastateofthe art
ManagementSystemtomaximiseefficiency.Anagreedfixedbudgetof£680kwasagreedtobepaid for
by the Charity and work is underway.
Additionally,althoughgovernmentpolicyisexpressedtobesupportiveofcommunityhospitalsthe reality
isthatthecurrenteconomicfinancialpositionofmanyHealthcareTrustshasmeantthat community
hospitalshavehadtheirbedsclosedtoachieveeconomies.TheCharity'sstrategyistodevelopa strong
workingbondwithESHTwhileretainingsignificantreservestoenableittorespondintheunlikely event
thattheydecidetoreduceor,even,withdrawitssupport.Withthecompletionoftheleaseextension to
ESHT,theTrusteestooktheviewthatsomeofitsreservesheldagainstthisriskshouldbereleased to
assist in funding capital projects.
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£4,603,096atthebalancesheetdate,of which
£5,089,431relatestofixedassetswhichwouldhavetobedisposedofinordertorealisethefull fund
amount. The amount of general reserves excluding the building fund is a deficit of £486,335.
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 £840.
Page 3
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
FUTURE PLANS
Community Outreach
TheCharityhasalmostcompleteditsdevelopmentplansfortheMemorialCareCentreandisturning its
attentiontoexpandingitshealthcareoutreachintothecommunity.PublicHealthservicesprovided by
RotherDistrictCouncilandEastSussexCountyCouncilhavebeengreatlyrestricteddueto budget
constraintsandtheimpactinthecommunityhasbeensignificant.Throughaseriesofnetworking events
the Charity seeks to bridge this gap in resources.
InadditiontheCharityhaslongwishedtoprovideaMinorInjuryandIllnessclinicinthe Out-Patient
area.SupportforthisisincreasingandaworkinggroupwiththeGPpractice,theambulance service
(SECAmb) and the NHS is trying to develop a pilot scheme.
After 13 years in post, the Chairman has notified the Board of his intention to retire at the end of 2024.
TheBoardarelookingforaparttimeChiefExecutiveOfficertobothassumethefunctionsperformed by
the Chairman and to bring additional skills which will enhance the Board's Outreach objectives.
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
Organisational structure
TheBoardmeetsquarterly.Inaddition,itcarriesoutitsresponsibilitiesthroughanumberof committees
whosemembersaredrawnfromtheBoardandfromappropriatedcommunityvolunteerswith relevant
skills.InthecaseofFundraising,participationisdrawnfromtheCharity'sexcellentnetwork of
supporters.Thecommitteesmeetasoftenasnecessary.Duringtheyearthesecommittees comprised:
Clinical,Hub,Friends,Fundraising,InvestmentandFinance&Governance.TheBoardisableto harness
theadviceofthesecommitteesanddevelopitsstrategicprioritiesmoreparticularlydescribed under
Plans for Future Periods.
InMay2020MrMartynPhillipsretiredfromtheBoardandbecametheChiefOperatingOfficerona part
timebasis.BySeptember2022hehadcompletedhiskeydutiesandrejoinedtheBoardin December
2022 where he chairs the Finance & Governance Committee.
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.AformalRiskRegisterhasbeenadoptedand is
reviewed at each Board Meeting
Page 4
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Fundraising approach and standards
TheCharityraisesfundstosupportthehospitalthroughavoluntaryFundraisingCommitteeof the
Friends, supported by the Company Secretary and Senior Administrative Officer.
Thescaleoftheseactivitiesaremodestwithapproximatelytentotwelveeventsayearwitha target
budget of £15k.
TheCharityobservestherequirementsoftheCharitiesAct1992withregardtosolicitation.Marketing is
done by use of the website, social media, printed fliers and word of mouth to its regular supporters.
The Charity also takes care to observe the requirements of the Data Protection legislation.
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
Trustees
B M Nealon - Chairman
J S Dudfield - Vice Chair
J C Kirkham
J J Huddle
Dr E M Bamji (retired) stepped down from the Board December 2022
Dr M K Kondagari (GP)
Dr R A McNeilly (retired)
P J A Riley
I Potter
J J Posnette
B P Baker
R Clarke elected December 2022
M H Phillips elected December 2022
R J Bisson elected December 2022
Honorary appointments
Patron
Sir Paul McCartney
Presidents
A Phillips
Vice Presidents
J M Stevenson
Rev W Buxton (deceased)
Honorary member
A M Oliphant
Company Secretary
F J Clent
Page 5
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Auditors
GMP Audit Limited, Statutory Auditor
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
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.
Page 6
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023
ThisreporthasbeenpreparedinaccordancewiththespecialprovisionsofPart15oftheCompanies Act
2006 relating to small companies.
Approved by order of the board of trustees on 29th November 2023 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')fortheyearended31stMarch2023whichcomprisetheStatementof 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 2023 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.
Theextenttowhichourproceduresarecapableofdetectingirregularities,includingfraudis 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, Statutory Auditor
Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006
82 High Street
Tenterden
Kent
TN30 6JG
1st December 2023
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 2023
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/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
funds
£
141,079
407,642
37,618
83,629
11,303
681,271
37,880
396,815
4,417
164,457
-
603,569
(23,186)
54,516
4,548,580
4,603,096 |
Restricted
funds
£
501
-
-
-
-
501
-
1,282
-
-
-
1,282
-
(781)
1,621
840 |
2023
Total
funds
£
141,580
407,642
37,618
83,629
11,303
681,772
37,880
398,097
4,417
164,457
-
604,851
(23,186)
53,735
4,550,201
4,603,936 |
2022
Total
funds
£
280,923
421,188
16,961
50,894
13,032 |
|
|
|
|
782,998 |
|
|
|
|
24,392
474,177
4,858
131,130
1,175 |
|
|
|
|
635,732 |
|
|
|
|
34,539 |
|
|
|
|
181,805
4,368,396 |
|
|
|
|
4,550,201 |
The notes form part of these financial statements
Page 11
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
BALANCE SHEET
31ST MARCH 2023
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
£
£
5,089,430
-
465,188
-
1
-
5,554,619
-
41,008
-
285,960
840
326,968
840
(66,653)
-
260,315
840
5,814,934
840
(1,211,838)
-
4,603,096
840 |
2023
Total
funds
£
5,089,430
465,188
1
5,554,619
41,008
286,800
327,808
(66,653)
261,155
5,815,774
(1,211,838)
4,603,936
4,603,096
840
4,603,936 |
2022
Total
funds
£
4,899,848
482,385
1
5,382,234
68,358
378,102
446,460
(56,335)
390,125
5,772,359
(1,222,158)
4,550,201
4,548,580
1,621
4,550,201 |
|
|
|
|
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006
for the year ended 31st March 2023.
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
BALANCE SHEET - continued 31ST MARCH 2023
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable
companies subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
29th November 2023 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 2023
|
|
2023 |
2022 |
|
Notes |
£ |
£ |
Cash flows from operating activities |
|
|
|
Cash generated from operations |
1 |
180,557 |
199,410 |
Net cash provided by operating activities |
|
180,557 |
199,410 |
Cash flows from investing activities |
|
|
|
Purchase of tangible fixed assets |
|
(278,715) |
(364,911) |
Purchase of fixed asset investments |
|
(37,688) |
(25,003) |
Sale of tangible fixed assets |
|
1,542 |
- |
Sale of fixed asset investments |
|
31,699 |
309,150 |
Interest received |
|
1,056 |
20 |
Dividends received |
|
10,247 |
13,012 |
Net cash used in investing activities |
|
(271,859) |
(67,732) |
|
|
|
|
Change in cash and cash |
|
|
|
equivalents in the reporting period |
|
(91,302) |
131,678 |
Cash and cash equivalents at the |
|
|
|
beginning of the reporting period |
|
378,102 |
246,424 |
Cash and cash equivalents at the |
|
|
|
end of the reporting period |
|
286,800 |
378,102 |
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 2023
1. |
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM |
OPERATING ACTIVITIES |
OPERATING ACTIVITIES |
|
|
2023 |
2022 |
|
|
£ |
£ |
|
Net income for the reporting period (as per the Statement |
|
|
|
of Financial Activities) |
53,735 |
181,805 |
|
Adjustments for: |
|
|
|
Depreciation charges |
89,133 |
127,716 |
|
Losses/(gain) on investments |
23,186 |
(34,539) |
|
Profit on disposal of fixed assets |
(1,542) |
- |
|
Interest received |
(1,056) |
(20) |
|
Dividends received |
(10,247) |
(13,012) |
|
Decrease/(increase) in debtors |
27,350 |
(6,287) |
|
Decrease in creditors |
(2) |
(56,253) |
|
Net cash provided by operations |
180,557 |
199,410 |
2. ANALYSIS OF CHANGES IN NET FUNDS
Net cash
Cash at bank and in hand
Total |
At 1/4/22
£
378,102
378,102
378,102 |
Cash flow
At 31/3/23
£
£
(91,302)
286,800
(91,302)
286,800
(91,302)
286,800 |
|
|
|
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 2023
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 2023
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.
Operating lease agreements
Rentalsapplicabletooperatingleaseswheresubstantiallyallofthebenefitsandrisksof ownership
remainwiththelessorarechargedagainstprofitsonastraightlinebasisovertheperiodof the
lease.
continued...
Page 17
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
2. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayable to
thecharitablecompany'spensionschemearechargedtotheStatementofFinancialActivities in
the period to which they relate.
3. DONATIONS AND LEGACIES
Donations
Gift aid
Legacies
Other income
4.
OTHER TRADING ACTIVITIES
Fundraising events
Hub on the Hill Cafe
5.
INVESTMENT INCOME
Fixed asset investments
Deposit account interest
Taxation 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
Other rents receivable
Hub on the Hill
Licence fees
Hub on the Hill |
2023
£
18,702
892
101,460
20,526
141,580
2023
£
35,384
48,245
83,629
2023
£
10,247
769
287
11,303
2023
£
183,679
135,000
87,172
1,791
35
37,583
445,260 |
2022
£
19,762
2,487
251,000
7,674 |
2022
£
19,762
2,487
251,000
7,674 |
|
|
280,923 |
|
|
|
2022
£
23,366
27,528
50,894
2022
£
13,012
20
-
13,032
2022
£
203,921
135,000
81,101
1,166
-
16,961 |
2022
£
23,366
27,528 |
|
|
|
50,894 |
|
|
|
2022
£
13,012
20
- |
|
|
|
13,032 |
|
|
438,149 |
|
continued...
Page 18
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
7. RAISING FUNDS
Raising donations and legacies
Other fundraising costs
Other trading activities
Purchases
Investment management costs
Portfolio management
Aggregate amounts
8.
CHARITABLE ACTIVITIES COSTS
Premises costs
Grants payable
Hub on the Hill
9.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Other operating leases
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
Loss on sale of assets |
Direct
Costs (see
note 9)
£
334,393
4,417
153,481
492,291 |
|
|
|
|
continued...
Page 19
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
10. SUPPORT COSTS
SUPPORT COSTS |
|
|
|
|
|
|
|
Governance |
|
|
Management |
|
costs |
Totals |
|
|
£ |
£ |
£ |
Premises costs |
54,501 |
|
9,203 |
63,704 |
Hub on the Hill |
|
2,645 |
8,331 |
10,976 |
|
57,146 |
|
17,534 |
74,680 |
Support costs, included in the above, are as |
follows: |
|
|
|
Management |
|
|
|
|
|
|
|
2023 |
2022 |
|
Premises |
Hub on |
Total |
Total |
|
costs |
the Hill |
activities |
activities |
|
£ |
£ |
£ |
£ |
Wages |
38,614 |
- |
38,614 |
44,122 |
Social security |
3,769 |
- |
3,769 |
3,859 |
Pensions |
809 |
- |
809 |
606 |
Repairs and maintenance |
- |
- |
- |
1,646 |
Office costs |
2,506 |
1,154 |
3,660 |
2,882 |
Other expenses |
8,803 |
1,001 |
9,804 |
11,549 |
Website costs |
- |
490 |
490 |
464 |
|
54,501 |
2,645 |
57,146 |
65,128 |
Governance costs |
|
|
|
|
|
|
|
2023 |
2022 |
|
Premises |
Hub on |
Total |
Total |
|
costs |
the Hill |
activities |
activities |
|
£ |
£ |
£ |
£ |
Auditors' remuneration |
7,973 |
3,586 |
11,559 |
5,725 |
Auditors' remuneration for non audit |
|
|
|
|
work |
- |
- |
- |
1,175 |
Bank charges |
580 |
877 |
1,457 |
661 |
Legal fees |
650 |
3,868 |
4,518 |
5,731 |
|
9,203 |
8,331 |
17,534 |
13,292 |
NET INCOME/(EXPENDITURE) |
|
|
|
|
Net income/(expenditure) is stated after charging/(crediting): |
|
|
|
|
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
Auditors' remuneration |
|
|
11,559 |
5,725 |
Auditors' remuneration for non audit work |
|
|
- |
1,175 |
Depreciation - owned assets |
|
|
89,133 |
127,717 |
Other operating leases |
|
|
1,700 |
- |
Surplus on disposal of fixed assets |
|
|
(1,542) |
- |
Accountancy recharged to tenants |
|
|
- |
5,125 |
11. NET INCOME/(EXPENDITURE)
continued...
Page 20
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023
12. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31stMarch2023nor for
the year ended 31st March 2022.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31stMarch2023norfortheyear ended
31st March 2022.
13. STAFF COSTS
2023
£
Wages and salaries
182,649
Social security costs
14,998
Other pension costs
4,044
201,691
The average monthly number of employees during the year was as follows:
2023
Operation of the charity
4
Operation of Hub
5
9 |
2022
£
172,474
13,131
3,239 |
2022
£
172,474
13,131
3,239 |
|
188,844 |
|
|
|
2022
4
5
9 |
No employees received emoluments in excess of £60,000.
14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Premises costs
Hub on the Hill
Other trading activities
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Premises costs
Grants payable
Hub on the Hill
Other
Total |
Unrestricted
funds
£
269,951
421,188
16,961
50,894
13,032
772,026
24,392
472,798
4,858
131,130
1,175
634,353 |
Restricted
funds
£
10,972
-
-
-
-
10,972
-
1,379
-
-
-
1,379 |
Total
funds
£
280,923
421,188
16,961
50,894
13,032 |
|
|
|
782,998 |
|
|
|
24,392
474,177
4,858
131,130
1,175 |
|
|
|
635,732 |
continued...
Page 21
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
14.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
Net gains on investments
34,539
NET INCOME
172,212
Transfers between funds
15,593
Net movement in funds
187,805
RECONCILIATION OF FUNDS
Total funds brought forward
4,360,775
TOTAL FUNDS CARRIED FORWARD
4,548,580
15.
TANGIBLE FIXED ASSETS
Assets in
the
Freehold
course of
property
construction
£
£
COST
At 1st April 2022
5,830,367
128,159
Additions
-
246,341
At 31st March 2023
5,830,367
374,500
DEPRECIATION
At 1st April 2022
1,160,334
-
Charge for year
70,515
-
At 31st March 2023
1,230,849
-
NET BOOK VALUE
At 31st March 2023
4,599,518
374,500
At 31st March 2022
4,670,033
128,159 |
14.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
Net gains on investments
34,539
NET INCOME
172,212
Transfers between funds
15,593
Net movement in funds
187,805
RECONCILIATION OF FUNDS
Total funds brought forward
4,360,775
TOTAL FUNDS CARRIED FORWARD
4,548,580
15.
TANGIBLE FIXED ASSETS
Assets in
the
Freehold
course of
property
construction
£
£
COST
At 1st April 2022
5,830,367
128,159
Additions
-
246,341
At 31st March 2023
5,830,367
374,500
DEPRECIATION
At 1st April 2022
1,160,334
-
Charge for year
70,515
-
At 31st March 2023
1,230,849
-
NET BOOK VALUE
At 31st March 2023
4,599,518
374,500
At 31st March 2022
4,670,033
128,159 |
- continued
Restricted
Total
funds
funds
£
£
-
34,539
9,593
181,805
(15,593)
-
(6,000)
181,805
7,621
4,368,396
1,621
4,550,201
Fixtures
and
fittings
Totals
£
£
290,328
6,248,854
32,374
278,715
322,702
6,527,569
188,672
1,349,006
18,618
89,133
207,290
1,438,139
115,412
5,089,430
101,656
4,899,848 |
Total
funds
£
34,539 |
|
|
|
181,805
- |
|
|
|
181,805
4,368,396 |
|
|
|
4,550,201 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Includedincostorvaluationoflandandbuildingsisfreeholdlandof£273,266(2022- £273,266)
which is not depreciated.
continued...
Page 22
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
16. FIXED ASSET INVESTMENTS
Cash held
Listed
for
investments
investments
£
£
MARKET VALUE
At 1st April 2022
474,238
8,147
Additions
23,298
14,390
Disposals
(34,451)
-
Revaluations
(20,434)
-
At 31st March 2023
442,651
22,537
NET BOOK VALUE
At 31st March 2023
442,651
22,537
At 31st March 2022
474,238
8,147
There were no investment assets outside the UK.
Cost or valuation at 31st March 2023 is represented by: |
Totals
£
482,385
37,688
(34,451)
(20,434)
465,188
465,188
482,385 |
|
|
Cost
17.
INVESTMENT PROPERTY
FAIR VALUE
At 1st April 2022
and 31st March 2023
AMORTISATION
At 1st April 2022
and 31st March 2023
NET BOOK VALUE
At 31st March 2023
At 31st March 2022 |
Listed
investments
£
442,651 |
Cash held
for
investments
£
22,537 |
Totals
£
465,188 |
|
|
|
£
492,744 |
|
|
|
492,743 |
|
|
|
1 |
|
|
|
1 |
Included in investment property is freehold land valued at £1 (2022 - £1).
Thefreeholdlandacquiredduringtheyearended31March2019wassubsequentlyleasedto a
Trustforaperiodof125yearsfortheconstructionandrunningofacarehome,atapremium of
£1,060,000.IntheTrustees'opinionthelandhasnoopenmarketvalueanditsfairvalue has
therefore been reduced to £1.
continued...
Page 23
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
18. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
VAT
Prepayments and accrued income
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes
Other creditors
Deferred income |
2023
£
29,884
8,535
2,589
41,008
2023
£
2,069
54,264
10,320
66,653 |
2022
£
48,343
16,702
3,313 |
|
|
68,358 |
|
|
2022
£
2,647
43,368
10,320 |
|
|
56,335 |
19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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.
20. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
|
2023 |
2022 |
|
£ |
£ |
Deferred income |
1,211,838 |
1,222,158 |
21. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
|
2023 |
2022 |
|
£ |
£ |
Within one year |
19,120 |
1,464 |
Lease payments recognised as an expense in the year were £3,200 (2022: £1,500)
continued...
Page 24
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
22. MOVEMENT IN FUNDS
Net
movement
At 1/4/22
in funds
£
£
Unrestricted funds
General fund
(351,269)
142,107
Fixed assets
4,899,849
(87,591)
4,548,580
54,516
Restricted funds
Nurses fund
1,560
(781)
District nurses fund
61
-
1,621
(781)
TOTAL FUNDS
4,550,201
53,735
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
681,271
(515,978)
Fixed assets
-
(87,591)
681,271
(603,569)
Restricted funds
Nurses fund
501
(1,282)
TOTAL FUNDS
681,772
(604,851)
Comparatives for movement in funds |
Transfers
between
funds
£
(277,173)
277,173
-
-
-
-
-
Gains and
losses
£
(23,186)
-
(23,186)
-
(23,186) |
At
31/3/23
£
(486,335)
5,089,431
4,603,096
779
61
840
4,603,936
Movement
in funds
£
142,107
(87,591)
54,516
(781)
53,735 |
|
|
|
Unrestricted funds
General fund
Fixed assets
Restricted funds
Nurses fund
District nurses fund
Equipment fund
TOTAL FUNDS |
At 1/4/21
£
(301,879)
4,662,654
4,360,775
2,560
61
5,000
7,621
4,368,396 |
Net
movement
in funds
£
299,929
(127,717)
172,212
(1,000)
-
10,593
9,593
181,805 |
Transfers
between
funds
£
(349,319)
364,912
15,593
-
-
(15,593)
(15,593)
- |
At
31/3/22
£
(351,269)
4,899,849
4,548,580
1,560
61
-
1,621
4,550,201 |
|
|
|
|
|
continued...
Page 25
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
22. MOVEMENT IN FUNDS - continued
Comparative 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
£
772,027
(1)
772,026
379
10,593
10,972
782,998 |
Resources
expended
£
(506,637)
(127,716)
(634,353)
(1,379)
-
(1,379)
(635,732) |
Gains and
losses
£
34,539
-
34,539
-
-
-
34,539 |
Movement
in funds
£
299,929
(127,717)
172,212
(1,000)
10,593
9,593
181,805 |
|
|
|
|
|
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
TOTAL FUNDS |
At 1/4/21
£
(301,879)
4,662,654
4,360,775
2,560
61
5,000
7,621
4,368,396 |
Net
movement
in funds
£
442,036
(215,308)
226,728
(1,781)
-
10,593
8,812
235,540 |
Transfers
between
funds
£
(626,492)
642,085
15,593
-
-
(15,593)
(15,593)
- |
At
31/3/23
£
(486,335)
5,089,431
4,603,096
779
61
-
840
4,603,936 |
|
|
|
|
|
continued...
Page 26
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2023
22. MOVEMENT IN FUNDS - continued
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
1,453,298
(1,022,615)
Fixed assets
(1)
(215,307)
1,453,297
(1,237,922)
Restricted funds
Nurses fund
880
(2,661)
Equipment fund
10,593
-
11,473
(2,661)
TOTAL FUNDS
1,464,770
(1,240,583) |
Gains and
losses
£
11,353
-
11,353
-
-
-
11,353 |
Movement
in funds
£
442,036
(215,308)
226,728
(1,781)
10,593
8,812
235,540 |
|
|
|
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.
23. CAPITAL COMMITMENTS
At the year end the board had committed to the carbon reduction phase 2 totalling £80,043.
24. RELATED PARTY DISCLOSURES
MrBNealon,atrustee,isthechairmanofRye&DistrictCommunityTransport,acharitythat Rye,
Winchelsea And District Memorial Hospital donated £10,000 (2022: £10,000) to in the year.
Totaldonationsreceivedfromtrusteesintheyearwithoutconditionswas£240(2022: £240).
Total donations received with conditions was £nil (2022 - nil).
25. ULTIMATE CONTROLLING PARTY
The charity is controlled by the board of trustees.
Page 27