``` 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`** **----- 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 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. ``` - `Reviewing minutes of Trustee Meetings for known or suspected instances of non-compliance with laws and` - `regulations and fraud.` ``` 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 ```