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 2024
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 2024
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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 29
----- End of picture text -----
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2024
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,present their
reportwiththefinancialstatementsofthecharityfortheyearended31stMarch2024.Thetrustees have
adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting 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,andtopromotethe preservation
and protection of health for the public benefit.
Activitiesarepredominantlyconfinedtothe10acresiteknownastheMemorialCareCentre(the Centre).
Within the bounds of the site are five main components:
-TheMedicalCentrewhichwasdevelopedbyCommunityCareInvestmentletona125yearleasefrom 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,overtimeit lapsed
intopuresocialhousing.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)for10 years
expiringon30May2020.TheleasewasassignedtotheEastSussexHealthcareTrust(ESHT)on1 April
2013astheNHSserviceprovider,uponthedemiseofthePCT.ADeedofVariationhasbeenexecuted with
theCharitytoextendtheleaseto30May2030withamutualoptiontoterminatein2025.Through a
numberofnegotiatedchangessincethen,ESHTnowoccupythewholeofthegroundfloorwithofficeson the
firstfloorandnowpayaservicechargeof87%.InadditiontheMutualOptiontoterminatethelease has
beenremovedandESHThaveafixedtermto2030,allofthisbeingembodiedinarevisedleasewhich will
be shortly executed. The rent payable for the balance of the term is fixed at £150k per annum.
-TheHubonRyeHill.TheCharityacquiredthissiteadjacenttothehospitalin2016andobtained Planning
Consenttobuilda5,500squarefootCommunityWellbeingCentre(TheHub).Worktobuildthesite was
competitivelytenderedandwonbyJenneratacontractpriceofjustunder£2m.Constructionwas completed
inAugust2020butimpactedbytheCOVIDrestrictions.Corelicencestoanumberofimportant therapy
providershavebeenagreed:suchasSt.Michael'sHospice;RyeandDistrictDayCentreandSaraLee Trust.
AverypopularcoffeeshopmakestheHubanimportantcommunitymeetingplace.Plansarebeing 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 2024
Objectives and significant activities (continued)
-TheCareHomeSite.TheCharityhascompletedthepurchaseofa1.5acrepieceofagricultural land
adjoiningthesurgeryattherearoftheCentre,withitsownaccesstoRyeHillforthepurposeof developing
aCareHome.AftercompetitivereviewGreensleeveswereselectedasthepreferreddeveloperand operator
oftheproposedCareHomesubjecttoa£1.06mprepaymentforthelongleaseholdinterest. Planning
permissionwasobtainedforthedevelopmentofa60bedCareHome.TheCharityhasdeliveredthe utilities
tothesite,aspartofitscommitment,toenablethedevelopmentoftheproject.Highinflationand the
impactofCOVIDonthecareindustryhasdelayedthestartofdevelopment.Greensleevesexpectto start
constructioninMarch2025.AnimportantfeatureoftheGroundLeasegrantedtoGreensleevesis their
commitmentthat25%ofthebedswillbecommunitysubsidisedforthebenefitoflocalresidentsrather than
fullopenmarket.GreensleeveswererecentlyidentifiedbytheWhichReportasthebest 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'sguidanceonpublic benefit
andaimstodevelopanddeliverservicestomeettheobjectivesassetoutintheMemorandumand Articles
of Association.
The Friends of the Hospital at Rye
Priortothedevelopmentofthecurrenthospital,itwasvoluntarilysupportedbyTheFriendsofthe Rye
WinchelseaandDistrictMemorialHospital,raisingfundsandprovidingvoluntaryassistanceasa registered
charity.Whenthelargescaledevelopmentofthesitetookplacebetween1992and1994aseparate charity,
thencalledRyeHealthandCareLtd(precedingtitleofthisCharity)wasformedasacompanylimited by
guaranteetoassumethedevelopmentrisk.Thetwocharitieshadbeenmutuallysupportiveeversincebut in
2013theyagreedthatthetimewasappropriatetomerge.NownamedTheFriendsoftheHospitalat Rye
(theFriends),itisaCommitteeofthisCharityassumingresponsibilityforliaisonwiththestaff and
fundraising to alleviate the identified needs of the hospital.
ArollingprogrammeoffundraisingactivitiesandeventsiscarriedoutbytheFriendswithinthe local
community.EventsaregeneratedeitherfromtheCharity'sofficesororganisedbyexternalvolunteers. In
addition,theCharityseeksincomefromregulardonationsenhancedbytheGiftAidSchemeand appropriate
management of its investment assets.
Volunteers
ThepositionsofChairmanoftheFriendsandtheChairmanoftheFundRaisingSubCommittee are
unsalaried positions.
TheCompanySecretaryandSeniorAdministrativeOfficerhasbeenafulltimepostsinceMay2020, with
40%ofhertimededicatedtohospitalactivitiesand60%toCharityactivities.Allfundraisingactivities are
plannedandco-ordinatedbyandthroughtheaforementionedpost,withassistanceappropriateto each
activity being provided solely by unpaid volunteers.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
TheCharitycontinuedduringtheperiodunderreviewinitsprincipalactivityasfreeholderofthe Memorial
CareCentre.Thenetdeficitfortheyear,beforeunrealisedgainsoninvestmentsof£25,002(2023: loss
£2,752),was£24,606(2023:£74,169)afterallowingforthedepreciationandimpairmentofthe Charity's
real property and fittings and fixtures in a sum of £153,904 (2023: £89,133).
Page 2
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
Charitable activities (continued)
TheCharityowesadutytothepeopleofRye,Winchelseaandthesurroundingvillagestosecure the
provisionofcommunityhospitalservicesattheCentre.Hithertotheseserviceshavebeenprovided in
partnershipwithourlocalPCTandmorerecentlyfromESHTbutontermswhichrequirea substantial
contributionfromtheCharity.Forexample,eachyeartheCharityexpendssignificantfundstocarry out
improvementsforthebenefitofthepatients.Theexteriorpainting,refurbishmentofthereceptionarea and
a large proportion of the out-patient upgrade, were all funded by the Charity.
Theplantandequipmentinthehospitalisnow30yearsoldandinrecentyearshasneeded significant
expenditureonrepairs.Externalconsultantswereinstructedtocarryoutathoroughreviewandadvised that
mostoftheequipmentwascomingtotheendofitsusefullife.TheBoarddecidedthatitwishedthe hospital
tobecomethefirstcarbonneutralhospitalinthecountryandcommissionedDMAtoinstallphoto-voltaic cells
ontheroofs,TeslabatteriestostorethepowergeneratedandastateoftheartManagementSystem to
maximise efficiency. The work was completed to the fixed budget of £680k.
Additionally,althoughgovernmentpolicyisexpressedtobesupportiveofcommunityhospitalsthereality is
thatthecurrenteconomicfinancialpositionofmanyHealthcareTrustshasmeantthatcommunity hospitals
havehadtheirbedsclosedtoachieveeconomies.TheCharity'sstrategyistodevelopastrongworking bond
withESHTwhileretainingsignificantreservestoenableittorespondintheunlikelyeventthattheydecide to
reduceor,even,withdrawitssupport.WiththecompletionoftheleaseextensiontoESHT,theTrustees took
theviewthatsomeofitsreservesheldagainstthisriskshouldbereleasedtoassistinfunding capital
projects.
FINANCIAL REVIEW
Investment policy and objectives
TheBoard'spolicyistoinvestintheestateandfacilitiestoprovidetheresourcesnecessarytomeet our
objectives.Withinthat,weaimtoensureourworkisprotectedinthelongertermfromtheriskof disruption
due to lack of funds from regular income.
Onceshorttermfundingrequirementsaremet,ourremainingfinancialresourcesareinvestedwitha long
termhorizoninmindandwiththeobjectiveofachievingamoderatetotalreturninexcessoftherate of
inflation.Thisaimofpreservingtherealvalueofcapitalisdonewithcloseregardtowhatweconsiderto be
anappropriateriskprofileandsuitableethicalstandards(suchasprohibitinginvestmentin companies
producing tobacco products).
Inearly2024theBoardtransferreditsinvestedportfoliototheCCLACharitiesInvestmentFund. Investing
onbehalfofalargenumberofcharities,theFundhasanemphasisonequities,butalsoincludes property,
bonds and other asset classes. At the end of March 2024 our investment portfolio had a value of £494,759.
Page 3
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2024
FINANCIAL REVIEW
Reserves policy
Ourreservespolicy,whichisreviewedannually,identifiesanappropriaterangeforfreereserves(defined as
unrestrictedfundsexcludingfixedassets)ofbetween£0.5mand£1.2m.Therangeallowsforrisksrelated to
an unforeseen drop in income, working capital requirements, and commitments and long term plans.
Theobjectiveistoensurethatwehavesufficientresourcestoweatherthevariousoperatingand strategic
risksweface,butalsotoallowforthefuturedevelopmentofourbuildingsandfacilities,andenhancement of
the services we offer.
Attheendofthereportingperiod,theCharityhasunrestrictedgeneralreservesof£4,553,488 (2023:
£4,603,096),ofwhich£5,062,968(2023:£5,089,431)relatestofixedassetswhichwouldhaveto be
disposedofinordertorealisethefullfundamount.Theamountoffreereserveswhichexcludethe building
fundisadeficitof£509,480(2023:£486,335).However,theTrusteesconsideritatrueandfairview to
utilisetheliquidreservesasbeingfreereservesofthecharity.Thisisonthebasisthatthereisa large
deferredincomebalancebeingreleasedtotheStatementofFinancialActivitiesoverthetermofalease, but
remains ultimately the income of the charity and is simply a timing difference.
The liquid free reserves of the charity are £692,037, which is in line with the reserves policy.
Restricted funds amounted to £840.
FUTURE PLANS
Community Outreach
TheCharityhasalmostcompleteditsdevelopmentplansfortheMemorialCareCentreandisturning its
attentiontoexpandingitshealthcareoutreachintothecommunity.PublicHealthservicesprovidedby Rother
DistrictCouncilandEastSussexCountyCouncilhavebeengreatlyrestrictedduetobudgetconstraints and
theimpactinthecommunityhasbeensignificant.ThroughaseriesofnetworkingeventstheCharityseeks to
bridge this gap in resources.
InadditiontheCharityhaslongwishedtoprovideaMinorInjuryandIllnessclinicintheOut-Patient area.
SupportforthisisincreasingandaworkinggroupwiththeGPpractice,theambulanceservice (SECAmb)
and the NHS is trying to develop a pilot scheme.
After 15 years in post, the Chair has notified the Board of his intention to retire at the end of 2024.
TheBoardhasconductedapublicrecruitmentcampaignandappointedCharlotteKneerasCEOto commence
her employment on 8 April 2024.
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, appointment and training of new trustees
Trusteesarerecruitedandappointedfrommembersofthelocalcommunitywhowishtoassistthe Charity.
Care is taken to ensure that an appropriate range of skills is represented.
NewtrusteesundergoashortinductionprogrammeandaregivenfullformalInductionPackbythe Chair.
Training is made available dependent of the needs of the trustee.
Page 4
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
TheBoardmeetsquarterly.Inaddition,itcarriesoutitsresponsibilitiesthroughanumberof committees
whosemembersaredrawnfromtheBoardandfromappropriatedcommunityvolunteerswithrelevant skills.
InthecaseofFundraising,participationisdrawnfromtheCharity'sexcellentnetworkofsupporters. The
committeesmeetasoftenasnecessary.Duringtheyearthesecommitteescomprised:Clinical,Hub, Friends
&Fundraising,InvestmentandFinance&Governance.TheBoardisabletoharnesstheadviceof these
committees and develop its strategic priorities more particularly described under Plans for Future Periods.
ThedaytodayadministrationoftheCharityisdelegatedtotheCompanySecretaryand Senior
Administrative Officer, Mrs Francesca Clent.
Wider network
OtherthanmembershipoftheCommunityHospitalsAssociation,thecharityisnotamemberofa wider
network.
Risk management
ThetrusteesconstantlymonitoranyriskstowhichtheCharitymaybeexposedandareconfident that
procedureshavebeenestablishedtomanagetheserisks.AformalRiskRegisterhasbeenadoptedand is
reviewed at each Board Meeting
Fundraising approach and standards
TheCharityraisesfundstosupportthehospitalthroughavoluntaryFundraisingCommitteeofthe Friends,
supported by the Company Secretary and Senior Administrative Officer.
Thescaleoftheseactivitiesaremodestwithapproximatelytentotwelveeventsayearwithatarget budget
of £15k.
TheCharityobservestherequirementsoftheCharitiesAct2011withregardtosolicitation.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
Page 5
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
Trustees
B M Nealon - Chair
J S Dudfield - Vice Chair
J C Kirkham resigned December 2023
J J Huddle resigned December 2023
Dr M K Kondagari (GP)
Dr R A McNeilly (retired GP)
P J A Riley resigned December 2023
I Potter
J J Posnette
B P Baker
R Clarke
M H Phillips
R J Bisson
P R Dale elected December 2023
N J McClure elected December 2023
S L Webb elected March 2024
Honorary appointments
Patron
Sir Paul McCartney
President
A Phillips
Vice President
J M Stevenson
Honorary member
A M Oliphant
Company Secretary
F J Clent
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
Page 6
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
STATEMENT OF TRUSTEES' RESPONSIBILITIES
Thetrustees(whoarealsothedirectorsofRye,WinchelseaandDistrictMemorialHospitalLimitedfor the
purposesofcompanylaw)areresponsibleforpreparingtheReportoftheTrusteesandthe financial
statementsinaccordancewithapplicablelawandUnitedKingdomAccountingStandards(United Kingdom
Generally Accepted Accounting Practice).
Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyearwhichgivea true
andfairviewofthestateofaffairsofthecharitablecompanyandoftheincomingresourcesand application
ofresources,includingtheincomeandexpenditure,ofthecharitablecompanyforthatperiod.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.
Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonable accuracy
atanytimethefinancialpositionofthecharitablecompanyandtoenablethemtoensurethatthe financial
statementscomplywiththeCompaniesAct2006.Theyarealsoresponsibleforsafeguardingtheassets of
thecharitablecompanyandhencefortakingreasonablestepsforthepreventionanddetectionoffraud 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 20th October 2024 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')fortheyearended31stMarch2024whichcomprisetheStatementof Financial
Activities,theBalanceSheet,theCashFlowStatementandnotestothefinancialstatements,including a
summaryofsignificantaccountingpolicies.Thefinancialreportingframeworkthathasbeenappliedin their
preparationisapplicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerally 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 2024 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
charitablecompanyinaccordancewiththeethicalrequirementsthatarerelevanttoourauditofthe financial
statementsintheUK,includingtheFRC'sEthicalStandard,andwehavefulfilledourother ethical
responsibilitiesinaccordancewiththeserequirements.Webelievethattheauditevidencewehave obtained
is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcernbasis of
accounting in the preparation of the financial statements is appropriate.
Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingto events
orconditionsthat,individuallyorcollectively,maycastsignificantdoubtonthecharitablecompany's ability
tocontinueasagoingconcernforaperiodofatleasttwelvemonthsfromwhenthefinancialstatements are
authorised for issue.
Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribedin 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,basedon the
workwehaveperformed,weconcludethatthereisamaterialmisstatementofthisotherinformation,we are
required to report that fact. We have nothing to report in this regard.
Page 8
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
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.
Responsibilities of trustees
AsexplainedmorefullyintheStatementofTrustees'Responsibilities,thetrustees(whoarealso the
directorsofthecharitablecompanyforthepurposesofcompanylaw)areresponsibleforthepreparation of
thefinancialstatementsandforbeingsatisfiedthattheygiveatrueandfairview,andforsuch internal
controlasthetrusteesdetermineisnecessarytoenablethepreparationoffinancialstatementsthatare free
from material misstatement, whether due to fraud or error.
Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharitable company's
abilitytocontinueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernand using
thegoingconcernbasisofaccountingunlessthetrusteeseitherintendtoliquidatethecharitablecompany or
to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
WehavebeenappointedasauditorsunderSection144oftheCharitiesAct2011andreportin accordance
with the Act and relevant regulations made or having effect thereunder.
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholeare free
frommaterialmisstatement,whetherduetofraudorerror,andtoissueaReportofthe Independent
Auditorsthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnota guarantee
thatanauditconductedinaccordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhen it
exists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorin the
aggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenon the
basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
-Discussionswiththetrusteeswhichincludedconsiderationofknownorsuspectedinstances of
non-compliance with laws and regulations and fraud.
-Reviewing,evaluatingandtestingsystemsandcontrolstoassesstheireffectivenesstopreventand detect
irregularities.
Identifying, reviewing and testing of journal entries.
-Challengingassumptionsandjudgementsmadebythetrusteesinrespectofsignificant accounting
estimates.
Thereareinherentlimitationsintheauditproceduresdescribedaboveandthefurther removed
non-compliancewithlawsandregulationsisfromtheeventsandtransactionsreflectedinthe financial
statements,thelesslikelywewouldbecomeawareofit.Also,theriskofnotdetectinga material
misstatementduetofraudishigherthantheriskofnotdetectingoneresultingfromerror,asfraud may
involvedeliberateconcealmentby,forexample,forgeryorintentionalmisrepresentations,or through
collusion.
Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedonthe Financial
ReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.Thisdescriptionformspartof 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,inaccordancewithPart4of the
Charities(AccountsandReports)Regulations2008.Ourauditworkhasbeenundertakensothatwe might
statetothecharitablecompany'strusteesthosematterswearerequiredtostatetotheminan auditors'
reportandfornootherpurpose.Tothefullestextentpermittedbylaw,wedonotacceptor assume
responsibilitytoanyoneotherthanthecharitablecompanyandthecharitablecompany'strusteesasa 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
6th November 2024
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 2024
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
Wellbeing activities
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
funds
£
60,036
488,729
36,600
81,597
11,633
678,595
43,245
515,192
5,742
163,709
25,000
752,888
24,685
(49,608)
4,603,096
4,553,488 |
Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
840
840 |
2024
Total
funds
£
60,036
488,729
36,600
81,597
11,633
678,595
43,245
515,192
5,742
163,709
25,000
752,888
24,685
(49,608)
4,603,936
4,554,328 |
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 |
|
|
|
|
|
The notes form part of these financial statements
Page 11
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
BALANCE SHEET 31ST MARCH 2024
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
£
£
5,062,968
-
494,759
-
1
-
5,557,728
-
95,433
-
201,398
840
296,831
840
(99,553)
-
197,278
840
5,755,006
840
(1,201,518)
-
4,553,488
840 |
2024
Total
funds
£
5,062,968
494,759
1
5,557,728
95,433
202,238
297,671
(99,553)
198,118
5,755,846
(1,201,518)
4,554,328
4,553,488
840
4,554,328 |
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 |
|
|
|
|
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006 for
the year ended 31st March 2024.
Themembershavenotdepositednotice,pursuanttoSection476oftheCompaniesAct2006requiring an
audit of these financial statements.
The notes form part of these financial statements
continued...
Page 12
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
BALANCE SHEET - continued 31ST MARCH 2024
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.
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable
companies subject to the small companies regime.
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
22nd October 2024 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 2024
|
|
2024 |
2023 |
|
Notes |
£ |
£ |
Cash flows from operating activities |
|
|
|
Cash generated from operations |
1 |
35,433 |
180,557 |
Net cash provided by operating activities |
|
35,433 |
180,557 |
Cash flows from investing activities |
|
|
|
Purchase of tangible fixed assets |
|
(127,442) |
(278,715) |
Purchase of fixed asset investments |
|
(30,905) |
(37,688) |
Sale of tangible fixed assets |
|
700 |
1,542 |
Sale of fixed asset investments |
|
26,019 |
31,699 |
Interest received |
|
1,880 |
1,056 |
Dividends received |
|
9,753 |
10,247 |
Net cash used in investing activities |
|
(119,995) |
(271,859) |
|
|
|
|
Change in cash and cash equivalents |
|
|
|
in the reporting period |
|
(84,562) |
(91,302) |
Cash and cash equivalents at the |
|
|
|
beginning of the reporting period |
|
286,800 |
378,102 |
Cash and cash equivalents at the |
|
|
|
end of the reporting period |
|
202,238 |
286,800 |
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 2024
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
Net (expenditure)/income for the reporting period (as per
the Statement of Financial Activities)
Adjustments for:
Depreciation charges
(Gain)/losses on investments
Profit on disposal of fixed assets
Interest received
Dividends received
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by operations |
2024
£
(49,608)
153,904
(24,685)
(700)
(1,880)
(9,753)
(54,425)
22,580
35,433 |
2023
£
53,735
89,133
23,186
(1,542)
(1,056)
(10,247)
27,350
(2)
180,557 |
|
|
|
2. ANALYSIS OF CHANGES IN NET FUNDS
Net cash
Cash at bank and in hand
Total |
At 1/4/23
£
286,800
286,800
286,800 |
Cash flow
At 31/3/24
£
£
(84,562)
202,238
(84,562)
202,238
(84,562)
202,238 |
|
|
|
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 2024
1. STATUTORY INFORMATION
Rye,WinchelseaandDistrictMemorialHospitalLimitedisaprivatecharitablecompanylimited by
guarantee,registeredinEnglandandWales.Thecompany'sregisterednumberandregistered office
address can be found in the reference and administrative details in the Report of the Trustees.
2. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102,
havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by
Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland (FRS
102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCompaniesAct2006.Thefinancial statements
havebeenpreparedunderthehistoricalcostconvention,withtheexceptionofinvestmentswhich are
included at market value, as modified by the revaluation of certain assets.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementto 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,orthecharityisawareofthe granting
ofprobate,andthecriteriaforincomerecognitionhavenotbeenmet,thenthelegacyistreatedas a
contingent asset and disclosed if material.
Thevalueofdonateditemsisrecognisedwhentheassociatedraffleorauctionhastaken place
through the receipt of funds from these events.
Thevaluabletimegivenbyvolunteerstowardsthecharitiesobjectivesisnotvaluedforthe 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,itisprobablethatatransferofeconomicbenefitswill be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
been allocated to activities on a basis consistent with the use of resources.
Costsinfurtheranceofthecharitableobjectivesarethosethatrelatedirectlytotheupkeep and
maintenance of the hospital including salaries.
Fundraisingexpenditurerepresentsthedirectcostsoffundraisingandincludesthesalariesand other
directcostsoffundraisingstaff.Publicitycostsdirectlyrelatedtofundraisingareincludedin the
fundraising costs.
continued...
Page 16
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
2. ACCOUNTING POLICIES - continued
Expenditure
Management and administration costs include office costs and other expenditure including salaries.
Tangible fixed assets
Fixedassetsarerecordedatcostor,incaseswhereassetshavebeendonated,atthevaluationat the
time of the acquisition.
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetsoverits 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.Anyaggregatesurplusordeficitarising 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.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.
Inthetrusteesopinion,wherenorestrictionsareplaced,theincomingresourcesand resources
expendedareallderivedforthebenefitofrunningthehospitalpremises.Thereforethe trustees
choose to classify this income and expenditure as unrestricted.
Designatedfundscompriseunrestrictedfundsthathavebeensetasidebythetrusteesfor particular
purposes.
Debtors
Tradeandotherdebtorsarerecognisedatthesettlementamountdueafteranytrade discount
offered.Prepaymentsarevaluedattheamountprepaidattheyearendaftertakingaccountof any
trade discounts due.
continued...
Page 17
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024
2. ACCOUNTING POLICIES - continued
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
remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayableto the
charitablecompany'spensionschemearechargedtotheStatementofFinancialActivitiesin the
period to which they relate.
3.
|
|
|
|
|
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 |
|
2024
£
16,086
4,614
15,193
24,143
60,036
2024
£
17,568
64,029
81,597
2024
£
9,753
1,880
-
11,633 |
2023
£
18,702
892
101,460
20,526 |
|
|
|
|
141,580 |
|
|
|
|
|
2023
£
35,384
48,245 |
|
|
|
|
83,629 |
|
|
|
|
2023
£
10,247
769
287 |
|
|
|
|
11,303 |
continued...
Page 18
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
6. |
INCOME FROM CHARITABLE ACTIVITIES |
INCOME FROM CHARITABLE ACTIVITIES |
|
|
|
|
|
2024 |
2023 |
|
|
Activity |
£ |
£ |
|
Running costs recharged to |
|
|
|
|
the ESHT |
Premises costs |
212,547 |
183,679 |
|
ESHT rent and |
|
|
|
|
management charges |
Premises costs |
155,843 |
135,000 |
|
Other rents receivable |
Premises costs |
117,643 |
87,172 |
|
Other costs recharged |
Premises costs |
2,696 |
1,791 |
|
Other rents receivable |
Hub on the Hill |
- |
35 |
|
Licence fees |
Hub on the Hill |
36,600 |
37,583 |
|
|
|
525,329 |
445,260 |
7. |
RAISING FUNDS |
|
|
|
|
Raising donations and legacies |
|
|
|
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Other fundraising costs |
|
6,163 |
9,215 |
|
Other trading activities |
|
|
|
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Purchases |
|
33,011 |
24,919 |
|
Investment management |
costs |
|
|
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Portfolio management |
|
4,071 |
3,746 |
|
Aggregate amounts |
|
43,245 |
37,880 |
continued...
Page 19
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
8. CHARITABLE ACTIVITIES COSTS
8. |
CHARITABLE ACTIVITIES COSTS |
|
|
|
|
|
Direct |
Support |
|
|
|
Costs (see |
costs (see |
|
|
|
note 9) |
note 10) |
Totals |
|
|
£ |
£ |
£ |
|
Premises costs |
452,682 |
62,510 |
515,192 |
|
Grants payable |
5,742 |
- |
5,742 |
|
Hub on the Hill |
155,278 |
8,431 |
163,709 |
|
Wellbeing activities |
25,000 |
- |
25,000 |
|
|
638,702 |
70,941 |
709,643 |
9. |
DIRECT COSTS OF CHARITABLE ACTIVITIES |
|
|
|
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Staff costs |
|
169,835 |
158,499 |
|
Other operating leases |
|
20,400 |
1,700 |
|
Rates and water |
|
10,889 |
8,775 |
|
Insurance |
|
4,716 |
5,661 |
|
Light and heat |
|
9,261 |
10,846 |
|
Telephone |
|
2,794 |
3,140 |
|
Advertising |
|
179 |
81 |
|
Running costs recharged to the ESHT |
|
149,542 |
114,534 |
|
Contribution to Sara Lee Trust running costs |
|
5,300 |
4,417 |
|
Running costs not recharged |
|
32,102 |
34,399 |
|
Bad debts |
|
(470) |
- |
|
Maintenance |
|
21,506 |
21,580 |
|
Licences |
|
916 |
408 |
|
Cleaning |
|
13,620 |
17,310 |
|
Donations |
|
19,908 |
23,350 |
|
Legal fees |
|
25,000 |
- |
|
Depreciation |
|
153,904 |
89,133 |
|
Loss on sale of assets |
|
(700) |
(1,542) |
|
|
|
638,702 |
492,291 |
continued...
Page 20
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
10. SUPPORT COSTS
Governance
Management
costs
£
£
Premises costs
49,632
12,878
Hub on the Hill
1,567
6,864
51,199
19,742 |
Totals
£
62,510
8,431 |
|
70,941 |
Support costs, included in the above, are as follows:
Management
Management |
|
|
|
|
|
|
|
2024 |
2023 |
|
Premises |
Hub on |
Total |
Total |
|
costs |
the Hill |
activities |
activities |
|
£ |
£ |
£ |
£ |
Wages |
32,363 |
- |
32,363 |
38,614 |
Social security |
3,262 |
- |
3,262 |
3,769 |
Pensions |
971 |
- |
971 |
809 |
Office costs |
2,129 |
354 |
2,483 |
3,660 |
Other expenses |
10,907 |
746 |
11,653 |
9,804 |
Website costs |
- |
467 |
467 |
490 |
|
49,632 |
1,567 |
51,199 |
57,146 |
Governance costs |
|
|
|
|
|
|
|
2024 |
2023 |
|
Premises |
Hub on |
Total |
Total |
|
costs |
the Hill |
activities |
activities |
|
£ |
£ |
£ |
£ |
Auditors' remuneration |
3,939 |
5,743 |
9,682 |
11,559 |
Bank charges |
362 |
1,082 |
1,444 |
1,457 |
Legal fees |
8,577 |
39 |
8,616 |
4,518 |
|
12,878 |
6,864 |
19,742 |
17,534 |
11. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
|
2024 |
2023 |
|
£ |
£ |
Auditors' remuneration |
9,682 |
11,559 |
Depreciation - owned assets |
153,904 |
89,133 |
Other operating leases |
20,400 |
1,700 |
Surplus on disposal of fixed assets |
(700) |
(1,542) |
continued...
Page 21
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024
12. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31stMarch2024nor for
the year ended 31st March 2023.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31stMarch2024norfortheyear ended
31st March 2023.
13. STAFF COSTS
Wages and salaries
Social security costs
Other pension costs |
2024
£
186,073
15,641
4,717
206,431 |
2023
£
182,649
14,998
4,044 |
|
|
201,691 |
The average monthly number of employees during the year was as follows:
Operation of the charity
Operation of Hub |
2024
4
4
8 |
2023
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 |
Unrestricted
funds
£
141,079
407,642
37,618
83,629
11,303
681,271
37,880
396,815
4,417
164,457 |
Restricted
funds
£
501
-
-
-
-
501
-
1,282
-
- |
Total
funds
£
141,580
407,642
37,618
83,629
11,303 |
|
|
|
681,772 |
|
|
|
37,880
398,097
4,417
164,457 |
continued...
Page 22
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
14.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
15.
TANGIBLE FIXED ASSETS
Freehold
property
£
COST
At 1st April 2023
5,830,367
Additions
-
Reclassification
477,949
At 31st March 2024
6,308,316
DEPRECIATION
At 1st April 2023
1,230,849
Charge for year
133,925
At 31st March 2024
1,364,774
NET BOOK VALUE
At 31st March 2024
4,943,542
At 31st March 2023
4,599,518 |
ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
603,569
1,282
(23,186)
-
54,516
(781)
4,548,580
1,621
4,603,096
840
Assets in
the
Fixtures
course of
and
construction
fittings
£
£
374,500
322,702
103,449
23,993
(477,949)
-
-
346,695
-
207,290
-
19,979
-
227,269
-
119,426
374,500
115,412 |
Total
funds
£
604,851
(23,186)
53,735
4,550,201
4,603,936
Totals
£
6,527,569
127,442
-
6,655,011
1,438,139
153,904
1,592,043
5,062,968
5,089,430 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Includedincostorvaluationoflandandbuildingsisfreeholdlandof£273,266(2023- £273,266)
which is not depreciated.
continued...
Page 23
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
16. FIXED ASSET INVESTMENTS
Cash held
Listed
for
investments
investments
£
£
MARKET VALUE
At 1st April 2023
442,651
22,537
Additions
30,905
-
Disposals
(24,615)
(1,722)
Movement in FV
25,003
-
At 31st March 2024
473,944
20,815
NET BOOK VALUE
At 31st March 2024
473,944
20,815
At 31st March 2023
442,651
22,537 |
Totals
£
465,188
30,905
(26,337)
25,003
494,759
494,759
465,188 |
|
|
There were no investment assets outside the UK.
17.
INVESTMENT PROPERTY
FAIR VALUE
At 1st April 2023
and 31st March 2024
AMORTISATION
At 1st April 2023
and 31st March 2024
NET BOOK VALUE
At 31st March 2024
At 31st March 2023 |
£
492,744 |
|
492,743 |
|
1 |
|
1 |
Included in investment property is freehold land valued at £1 (2023 - £1).
Thefreeholdlandacquiredduringtheyearended31March2019wassubsequentlyleasedtoa Trust
foraperiodof125yearsfortheconstructionandrunningofacarehome,atapremium of
£1,060,000.IntheTrustees'opinionthelandhasnoopenmarketvalueanditsfairvalue has
therefore been reduced to £1.
continued...
Page 24
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
18. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
Trade debtors
VAT
Prepayments and accrued income |
2024
£
60,575
7,671
27,187
95,433 |
2023
£
29,884
8,535
2,589 |
|
|
41,008 |
19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income |
2024
£
40,070
3,651
5,968
49,864
99,553 |
2023
£
-
2,069
54,264
10,320 |
|
|
66,653 |
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.Theamountofdeferredincome brought
forwardandreleasedintheyearwas£10,320(2023:£10,320).Nofurtherincomehasbeen deferred
in the current year (2023: £nil).
Inadditiontotheabovedeferredincomeisalsoincludedforrentalinvoicesraisedduringthe year
thatrelatetothefollowingperiod.Thedeferredincomebroughtforwardandreleasedintheyear was
£19,075(2023:£19,075);andincomethathasbeenreceivedduringtheyearanddeferred was
£21,631 (2023: £19,075).
Thedeferredelementsareshownwithinothercreditorsbothinshorttermandcreditors, amounts
falling due after more than one year.
continued...
Page 25
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
20. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Deferred income
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due |
Deferred income
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due |
2024
£
1,201,518
as follows: |
|
2023
£
1,211,838 |
|
|
2024 |
|
2023 |
|
|
£ |
|
£ |
Within one year |
|
18,700 |
|
19,120 |
|
|
|
|
|
21. LEASING AGREEMENTS
Lease payments recognised as an expense in the year were £20,080 (2023: £3,200).
Minimum lease receipts under non-cancellable operating leases fall due as follows:
|
2024 |
2023 |
|
£ |
£ |
Within one year |
266,400 |
266,400 |
Between one and five years |
986,400 |
986,400 |
In more than five years |
7,980,667 |
8,227,267 |
|
|
|
|
9,233,467 |
9,480,067 |
|
|
|
Includedwithintheabovedisclosureisfutureminimumoperatingleasecommitmentsrelatingto three
properties.
Oneofthepropertiesownedbythecharityandleasedtoathirdpartyisdonesounder a
non-cancellableleaseof125yearswhichisduetoexpirein95years.Thetotalfutureminimum lease
commitmentforthispropertyis£8,227,000,ofwhich£7,794,000isreceivableinmorethan5 years.
TherentalincomefromthisleasewillincreasebytheRetailPriceIndex(RPI)eachyearand therefore
it has not been discounted.
22. MOVEMENT IN FUNDS
Unrestricted funds
General fund
Fixed assets
Restricted funds
Nurses fund
District nurses fund
TOTAL FUNDS |
At 1/4/23
£
(486,335)
5,089,431
4,603,096
779
61
840
4,603,936 |
Net
movement
in funds
£
103,596
(153,204)
(49,608)
-
-
-
(49,608) |
Transfers
between
funds
£
(126,742)
126,742
-
-
-
-
- |
At
31/3/24
£
(509,481)
5,062,969
4,553,488
779
61
840
4,554,328 |
|
|
|
|
|
continued...
Page 26
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
22. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Fixed assets
TOTAL FUNDS |
Incoming
resources
£
678,595
-
678,595
678,595 |
Resources
expended
£
(599,684)
(153,204)
(752,888)
(752,888) |
Gains and
losses
£
24,685
-
24,685
24,685 |
Movement
in funds
£
103,596
(153,204)
(49,608)
(49,608) |
|
|
|
|
|
Comparatives for movement in funds
Unrestricted funds
General fund
Fixed assets
Restricted funds
Nurses fund
District nurses fund
TOTAL FUNDS |
At 1/4/22
£
(351,269)
4,899,849
4,548,580
1,560
61
1,621
4,550,201 |
Net
movement
in funds
£
142,107
(87,591)
54,516
(781)
-
(781)
53,735 |
Transfers
between
funds
£
(277,173)
277,173
-
-
-
-
- |
At
31/3/23
£
(486,335)
5,089,431
4,603,096
779
61
840
4,603,936 |
|
|
|
|
|
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Fixed assets
Restricted funds
Nurses fund
TOTAL FUNDS |
Incoming
resources
£
681,271
-
681,271
501
681,772 |
Resources
expended
£
(515,978)
(87,591)
(603,569)
(1,282)
(604,851) |
Gains and
losses
£
(23,186)
-
(23,186)
-
(23,186) |
Movement
in funds
£
142,107
(87,591)
54,516
(781)
53,735 |
|
|
|
|
|
continued...
Page 27
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
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
TOTAL FUNDS |
At 1/4/22
£
(351,269)
4,899,849
4,548,580
1,560
61
1,621
4,550,201 |
Net
movement
in funds
£
245,703
(240,795)
4,908
(781)
-
(781)
4,127 |
Transfers
between
funds
£
(403,915)
403,915
-
-
-
-
- |
At
31/3/24
£
(509,481)
5,062,969
4,553,488
779
61
840
4,554,328 |
|
|
|
|
|
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedin the
above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
1,359,866
(1,115,662)
Fixed assets
-
(240,795)
1,359,866
(1,356,457)
Restricted funds
Nurses fund
501
(1,282)
TOTAL FUNDS
1,360,367
(1,357,739) |
Gains and
losses
£
1,499
-
1,499
-
1,499 |
Movement
in funds
£
245,703
(240,795)
4,908
(781)
4,127 |
|
|
|
Fixedassetshavebeenseparatelydesignatedtoshowthefreereservespositionatthebalance sheet
date.
AmountsdonatedtotheNursesbypatients,relativesandfriends,areheldinaseparatefund.This is
spent on refreshments and an annual party. Similarly there is a fund for the District Nurses.
continued...
Page 28
RYE, WINCHELSEA AND DISTRICT
MEMORIAL HOSPITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
23. RELATED PARTY DISCLOSURES
MrBNealon,atrustee,isthechairmanofRye&DistrictCommunityTransport,acharitythat Rye,
Winchelsea And District Memorial Hospital donated £10,000 (2023: £10,000) to in the year.
Totaldonationsreceivedfromtrusteesintheyearwithoutconditionswas£958(2023:£240). Total
donations received with conditions was £nil (2023 - £nil).
24. ULTIMATE CONTROLLING PARTY
The charity is controlled by the board of trustees.
25. CONTINGENT ASSETS
Asat31March2024thecharityhasbeenmadeawareoflegacyreceiptsduetothecharity of
£1,823,329.Wherethereisuncertaintyastotheamountofthelegacyanditcannotbe reliably
estimated, the legacy has been included as a contingent asset.
Page 29