OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (incorporating the League of Friends of OCH) LTD

UNAUDITED FINANCIAL STATEMENTS

31 MARCH 2021

Company Registration Number 3527407 Charity Number 1068721

GODDARD & CO 3 Church Street Odiham Hook, Hampshire RG29 1LU

1

ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (incorporating the League of Friends of OCH) Ltd

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

CONTENTS

Legal and Administrative Information 2
Trustees Annual Report 3
Independent Examiner’s Report 8
Statement of Financial Activities 9
Summary Income and Expenditure Account 10
Balance Sheet 11
Notes to the Financial Statements 12
Unrestricted Funds Income and Expenditure 18

2

ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (incorporating the League of Friends of OCH) Ltd LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDED 31 MARCH 2021

Charity Name Odiham Cottage Hospital Combined Trusts (incorporating Odiham Cottage Hospital Combined Trusts (incorporating
the League of Friends of OCH Ltd
(with effect from 24 July 2014)
Previously Odiham Cottage Hospital Charitable Trust
Previously Odiham Cottage Hospital Redevelopment Trust
Charity Registration Number 1068721
Company Registration Number 3527407
Registered Office and Operational Address Odiham Cottage Hospital
Buryfields
Odiham
Hook, Hampshire
RG29 1NE
Directors and Trustees Mrs J Kelly Chairman
G Deverill Hon Treasurer
Mrs D C Heald
H W Bolland
K W Crookes
Dr H C F Heywood Deputy Chairman
Dr W S Hudson
I N MacDonald
Mrs C M Mitchell
Dr J A Worlock
Company Secretary Mrs V C East
Independent Examiners Goddard & Co
3 Church Street
Odiham
Hook, Hampshire
RG29 1LU
Bankers Lloyds Bank Plc
174 Fleet Road
Fleet
Hampshire
GU51 4DD

3

ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (incorporating the League of Friends of OCH) Ltd TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 MARCH 2021

The Trustees present their annual report and independently examined financial statements for the year ended 31 March 2021.

STRUCTURE, GOVERNANCE AND ACTIVITIES

Governing Document

Odiham Cottage Hospital Combined Trusts (incorporating the League of Friends of OCH) Ltd (“OCHCT”) is a company limited by guarantee which was registered as a Charity (number 1068721) on 13 March 1998. The company was originally known as Odiham Cottage Hospital Redevelopment Trust (OCHCRE) but its name was changed in August 2009 to Odiham Cottage Hospital Charitable Trust and then to Odiham Cottage Hospital Combined Trusts (incorporating the League of Friends of OCH) on 24 July 2014 following the merger with the League of Friends of OCH. It was established under a Memorandum of Association which sets out the objects and powers of the charitable company and is governed by its Articles of Association. In the event of the company being wound up, each member is required to contribute an amount not exceeding £1.

Objects, Aims and Activities

In 2013, the Trustees reviewed the objects, aims and principal activities of the Charity and revised them to reflect the current needs of the community. The Charity now provides public benefit through the relief of sickness by:

Organisational Structure

OCHCT is managed by a Board of Trustees which met five times in the year although COVID-19 restrictions meant that these meetings were held online. The Trustees as at the year-end are listed on page 2. The Trustees are responsible for the governance, strategic direction and policy of the Charity and have a variety of professional backgrounds relevant to the work of the Charity. All Trustees are directors of the company for the purpose of the Companies Act 2006.

The Charity has retail trading activities which are carried out by its wholly owned subsidiary, OCH Shops Ltd. This company is managed by a committee that meets as required, whilst supervision of the shops is carried out by a Head of Retail who works closely with the shop managers.

Day to day operational matters of the Charity are delegated to a part-time Secretary to the Trustees who also acts as the Company Secretary.

4

The investment portfolio is managed by a committee of Trustees and an advisor each with a finance background, and reports to the Board twice yearly.

Recruitment, Appointment, Induction and Training of Trustees

At each Annual General Meeting, one third of the Trustees must retire and, if eligible, may seek re-election. At OCHCT’s twenty first AGM, to be held on Tuesday 20[st] July, Ken Crookes, Caroline Mitchell and Bounce Heald will retire and, being eligible, will seek re-election. The Trustees are grateful to Ian MacDonald who has agreed to a second term of office, reflecting his particularly valuable skill set and his appointment is ratified by the members annually.

The Trustees are mindful of the need to continue to ensure that Board members represent the interests of the hospital’s community and include a skill mix necessary to run the Charity successfully. The Board also recognise the need for its membership to reflect the cultural and diversity mix of the local community and this is taken into consideration when new appointments are made. New Trustees are invited to attend a briefing with the Secretary which includes an explanation of their obligations under Charity Commission guidance, together with the operational framework of the Charity, its financial and strategic plans and objectives.

Risk Management

The Trustees undertake a thorough assessment of the significant risks to which OCHCT is exposed and have sought to ensure that risk mitigation policies are in place. These are formally reviewed each year. The Charity’s objectives are achieved through provision of its two main assets; the hospital building and its financial reserves which are enhanced by its shop trading activities. Operational and financial control procedures exist to protect and enhance each of these valuable resources. A commercial property and liability insurance policy is in place.

Related Parties

In so far as it is complementary to the Charity’s objectives, OCHCT is guided by both local and national health and social care policy. Wherever possible, representatives meet with senior management from the NHS, HCC Adult Services, Hart District Council and other interested parties to endure that the Charity delivers the best possible services to its community.

Governance

In November 2017 the Board reflected on the recommendations of the new Charity Governance Code and are now confident that they operate under best practice guidelines.

ACHIEVEMENTS AND PERFORMANCE

The year has been dominated by the COVID-19 pandemic which has impacted clients, patients and services alike. For the majority of the year the hospital building has been closed to non-essential visitors although wherever possible staff continued to support clients and patients in their own homes.

In recognition of the funding pressures that the pandemic has placed on our service partners, whose work is needed more than ever before, the Board of Trustees agreed to make a series of one-off COVID related grants to support their work. Grants were made to St Michaels Hospice £25,000, Whitewater Health link nurse £30,000, Hart Voluntary Action youth mental health services £3,000 and Age Concern Hampshire Rosefield Day Centre £3,125.

5

The local Southern Health NHS Trust community nursing team has a satellite office at OCH and the nurses have worked on a daily basis throughout the pandemic. Specialist nursing clinics, iTalk counselling services and ad hoc services continued on a virtual basis. The Whitewater GP surgery link nurse service also continued to support their isolated, mainly elderly patients, with the aim of improving their well-being and avoiding hospital admissions.

Rosefield Day Centre closed its doors at the end of March 2020 but continued to support their previous clients and a number of new referrals with shopping/pharmacy runs, a new sitting service, wellbeing calls and signposting support services. However, they are finally able to plan for their re-opening in May 2021.

The OCH Annex has enabled Hart Voluntary Action to provide a facility designed specifically for counselling younger people through their 1-2-1 Youth Mental Health Service. The effects of the pandemic on the mental health of young people is well documented and the 1-2-1 service supported their clients throughout the lockdowns remotely. 1-2-1 adult counselling was launched in the year and has been able to assist a number of clients in need.

Following a strategic review carried out in January 2019, the Trustees explored ways in which to work with services that meet the needs of younger children and their families. Given the impact of the pandemic on the mental health of younger people, the Trustees agreed to fund a second academic year of support for Canine Assisted Learning to work with vulnerable children at Hook Infants and Primary Schools on a weekly basis. The service broadened their offering and supported a wider range of children even when the schools were closed. The Homestart parent support service worked with families on a one-to-one basis during lockdown but are now able to plan their group opening this summer.

FINANCIAL REVIEW

Unrestricted Funds

As shown in the Statement of Financial Activities, the Charity received unrestricted donations of £8,346 compared to £13,482 in the previous year. The Trustees are most grateful to receive the support of so many individuals, clubs and events in the year.

OCH Shops Ltd, the wholly owned subsidiary of OCHCT, made a donation of £60,000 (compared to £70,000 in 2019/20) being profits made by the retail activities in Odiham, Hartley Wintney and Old Basing. Given the shops were closed for so much of the year, this is a tremendous result, thanks in part to the Government support schemes, support from the respective landlords and ebay trading activity.

Income from investments was slightly lower than the previous year due to lower market returns. In summary unrestricted income amounted to £175,224 compared to £195,704 in the previous year.

Expenditure on charitable activities, totalled £278,800 compared with £221,358 in the previous year due to the COVID support grants that have been provided to the various services and described above.

As the investment markets made recovery following the early pandemic losses, the general reserve investment portfolio recorded unrealised gains of £11,619.

In summary the net loss for the current year was £91,957 compared to a loss of £42,436 in the previous year.

Restricted Funds

No restricted donations were received in the year, however depreciation of the total portfolio of restricted assets amounted to £2,962.

6

Endowment Fund

Some years ago, the Trustees established an endowment fund in order to generate income to support the Charity’s running costs. At the Trustees’ discretion, except where the donor has expressly requested otherwise, the capital of the fund is available to support the development of the hospital and its services.

A legacy of £5,000 was received in the year and was added to the endowment fund in accordance with the Charity’s policy. £101,742 was transferred from the endowment fund to support the work of the charitable service partners through the COVID pandemic.

Investment Policy and Performance

Under the Memorandum and Articles of Association, the Trustees, after taking appropriate advice, have the power to make investment of funds. They have adopted a conservative investment policy which reflects OCHCT’s need for income. The portfolio generated £85,808 in the year compared to £90,677 in the previous year.

The endowment fund recorded an unrealised profit of £172,295 and a realised profit of £25,320 for the year and was valued at £2,192,085 at the year end. The general reserve recorded an unrealised profit of £11,619 and was valued at £219,388 at the year end.

Reserves Policy

It is the policy of the Charity to maintain reserves and operational funds, which are the free reserves of the Charity, at a level which is sufficient to cover its operational obligations for at least two years. This provides sufficient funds to ensure that the commitments of the Charity can be met for the foreseeable future, even in the event of a significant reduction in income.

PLANS FOR THE FUTURE

Unlike a year ago, the hospital is now preparing for re-opening as we emerge from the winter lockdown. We are very much looking forward to welcoming clients and patients alike in the forthcoming weeks.

After a long and successful partnership with St Michaels’s Hospice running the Befriending Service, it was agreed that OCH would take over the management of the service with effect from 1[st] April 2021. The service necessarily suspended visiting over the previous year, whilst continuing to support clients with telephone calls and signposting. As lockdown eases, a number of volunteers are looking forward to resuming their weekly visits with their clients. The Board of Trustees are very proud of the service and grateful to St Michael’s for their expert management since inception, and are looking forward to continuing to build on its previous success.

Longer term, the Board of Trustees remain committed to providing and expanding a range of health and social care services that respond to the needs of local people. The Board are currently in discussion with Odiham Health Centre regarding a new role within their multidisciplinary “One Team” to support the healthcare needs of the isolated and vulnerable on a proactive basis. The intention is that this role will mirror the success of the link nurses at Whitewater Health.

7

RESPONSIBILITIES OF THE TRUSTEES

The Trustees (who are also the Directors of the Company for the purposed of Company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources including the income and expenditure of the Charity for that year. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

INDEPENDENT EXAMINER

Goddard and Co have been appointed to act as independent examiner as the Charity no longer requires an audit

SMALL COMPANY PROVISIONS

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

Registered Office: Odiham Cottage Hospital, Buryfields, Odiham, Hook, Hampshire, RG29 1NE

Signed by order of the Trustees:

Janet Kelly, Chairman

Approved by the Trustees 27th May 2021

8

ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (incorporating the League of Friends of OCH) Ltd INDEPENDENT EXAMINER’S REPORT YEAR ENDED 31 MARCH 2021

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

RESPONSIBILITIES AND BASIS OF REPORT

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’).

In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

INDEPENDENT EXAMINER’S STATEMENT

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:

Peter Goddard FCA FCCA

Address: 3 Church Street Odiham Hampshire RG29 1LU

Date

9

ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (incorporating the League of Friends of OCH) LTD STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2021

Note
Income and endowments from
Donations and legacies
Donations
Legacies
Other trading activities
Income from group companies
2
Income from investments
3
Income from charitable activities
Property income
Total income and endowments
Expenditure on charitable activities
4
Net gains/(losses) on investment
8
Realised
Unrealised
NET INCOME/(EXPENDITURE)
Transfers between funds
NET MOVEMENT IN FUNDS
FUND BALANCES as at 1 APRIL 2020
FUND BALANCES as at 31 MARCH 2021		 Unrestricted
Restricted
Endowment
Total
Unrestricted
Restricted
Endowment
Total
Funds
Funds
Fund
2021
Funds
Funds
Fund
2020
£
£
£
£
£
£
£
£
8,346
-
8,346
13,482
-
-
13,482
-
-
5,000
5,000
-
-
10,000
10,000
60,000
-
-
60,000
70,000
-
-
70,000
85,808
-
-
85,808
90,677
-
-
90,677
21,070
-
-
21,070
21,545
-
-
21,545
175,224
-
5,000
180,224
195,704
-
10,000
205,704
278,800
2,962
-
281,762
221,358
4,333
-
225,691
-
-
25,320
25,320
-
-
(1,090)
(1,090)
11,619
-
172,295
183,914
(16,782)
-
(221,688)
(238,470)
(91,957)
(2,962)
202,615
107,696
(42,436)
(4,333)
(212,778)
(259,547)
101,742
-
(101,742)
-
68,902
-
(68,902)
-
9,785
(2,962)
100,873
107,696
26,466
(4,333)
(281,680)
(259,547)
714,562
26,221
2,091,211
2,831,994
688,096
30,554
2,372,891
3,091,541
724,347
£
23,259
£
2,192,084
£
2,939,690
£
714,562
£
26,221
£
2,091,211
£
2,831,994
£

The notes on pages 12 to 17 form part of these financial statements

10

ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (inc the League of Friends od OCH) Ltd SUMMARY INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2021

Note
INCOME
TOTAL EXPENDITURE
OPERATING DEFICIT
OTHER INCOME
Interest receivable and similar income
3
NET (DEFICIT) FOR THE FINANCIAL YEAR		 2021
2020
£
£
89,416
105,027
281,762
225,691
(192,346)
(120,664)
85,808
90,677
(106,538)
£
(29,987)
£

This Summary Income and Expenditure account has been prepared in accordance with the Companies Act 2006. The net deficit for the financial year shown above is the net expenditure as shown in the Statement of Financial Activities on page 9 from Unrestricted and Restricted Funds excluding net gains/(losses) on investments.

All of the activities of the charitable company are classed as continuing.

The notes on pages 12 to 17 form part of these financial statements.

11

ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (inc the League of Friends of OCH) Ltd BALANCE SHEET as at 31 MARCH 2021

Note
Fixed assets
Tangible fixed assets
6
Investment in Group Companies
7
Other Investments
8
Current assets
Debtors
9
Cash at bank and in hand
Current liabilities
Creditors due within one year
10
Net current assets / (liabilities)
Total assets less current liabilities
Funds
Endowment fund
11
Restricted funds
12
Unrestricted funds
Designated funds
13
General funds
Total funds		 £
£
£
£
456,194
471,428
100
100
2,411,472
2,298,980
2,867,766
2,770,508
1,825
32,729
112,252
54,698
114,077
87,427
(42,153)
(25,941)
71,924
61,486
2,939,690
£
2,831,994
£
2,192,084
2,091,211
23,259
26,221
432,935
445,207
291,412
269,355
724,347
714,562
2,939,690
£
2,831,994
£
2021
2020
432,935
291,412

The Trustees are satisfied that the Charity is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477(2), and that no member or members have requested an audit pursuant to section 476(1) of the Act.

The Trustees acknowledge their responsibilities for:

(i) ensuring that the Charity keeps adequate accounting records which comply with section 386 of the Act, and

(ii) preparing financial statements which give a true and fair view of the state of affairs of the Charity as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the Charity.

These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

These financial statements were approved by the Trustees on 27th May 2021, and are signed on their behalf by:

J Kelly, Chairman

G Deverill, Trustee

Company Registration Number 3527407

The notes on pages 12 to 17 form part of these financial statements

12

ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (incorporating the League of Friends of OCH) Ltd NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

The principle accounting policies are summarised below. They have been consistently applied throughout the current and preceding year.

The financial statements have been prepared under the historical cost convention, except that fixed asset investments are carried at market value as described below, and in accordance with applicable UK accounting standards, the Charities SORP (FRS 102) and the Companies Act 2006.

The Trustees have taken advantage of the exemption in the Charities SORP (FRS 102) from including a cash flow statement in the financial statements on the grounds that the charitable company is small.

Income is recognised in the year in which the Charity is entitled to receive it and the amount can be measured with reasonable certainty. Where income tax is reclaimable, such income is included at the gross amount.

All expenditure, including payments under operating leases, is accounted for on an accruals basis, is allocated to the appropriate cost category and excludes recoverable VAT.

The policy of the Trustees is to maintain such sums as they deem prudent for the future refurbishment and development of the hospital and to provide such other sums as are required to maintain the activities in the event of any shortfall in future income.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over its useful economic life as follows:

Freehold land NIL Freehold building 2% on cost Freehold refurbishments 10% on cost Leasehold facilities 4% on cost (life of asset) Computer equipment 25% on cost Minibus 20% on cost Other equipment 10% on cost

The Charity relies on section 505 of the Income and Corporation Taxes Act 1988 which exempts it from corporation tax liabilities on its current activities.

Fixed asset investments are stated at market value at the year end date. Unrealised investment gains and losses reflect the actual performance of the underlying investments.

The Charity makes a contribution to a pension scheme for its one member of staff. This is a defined contribution pension scheme and the annual contribution payable is charged to the accounts. The assets of the scheme are held separately from those of the Charity.

Governance costs comprise the cost of running the Charity, independent examination, any legal advice for the Trustees and all costs of complying with constitutional and statutory requirements.

13

ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (incorporating the League of Friends of OCH) LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

~~2~~ INCOME FROM GROUP COMPANIES

~~2~~
INCOME FROM GROUP COMPANIES
Donation from OCH Shops Ltd
~~3~~
INTEREST RECEIVABLE AND SIMILAR INCOME
Bank interest receivable
UK listed investments		 2021
2020
£
£
60,000
£
70,000
£
2021
2020
£
£
6,196
4,167
79,612
86,510
85,808
£
90,677
£

~~4~~ CHARITABLE EXPENDITURE

CHARITABLE EXPENDITURE CHARITABLE EXPENDITURE
Unrestricted Restricted 2021 2020
Funds Funds
£ £ £ £
Cost of service provision 176,179 - 176,179 111,335
Cost of provision of hospital accommodation
Depreciation 20,006 1,362 21,368 20,560
Maintenance and repairs 7,808 - 7,808 11,521
Utilities 8,963 - 8,963 9,863
Telephone 2,612 - 2,612 2,443
Other premises costs 3,202 - 3,202 2,738
Insurance 3,870 - 3,870 4,480
Other costs 1,761 - 1,761 2,538
Cleaning 6,848 - 6,848 6,383
Car park amortisation 332 1,600 1,932 1,932
Car park rent 4,856 - 4,856 4,856
Management and administration
Staff costs 31,058 - 31,058 34,182
Other costs 1,706 - 1,706 2,654
Governance costs
Staff costs 7,764 - 7,764 8,546
Independent examination fees 1,835 - 1,835 1,660
£ 278,800
 £ 2,962
 £ 281,762
 £ 225,691

20% of the Company Secretary's time is estimated to be spent on matters related to governance and this is the basis of cost allocation.

OCH Combined Trusts has purchased insurance to indemnify all Trustees against possible liabilities incurred by them in relation to their duties.

14

ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (incorporating the League of Friends of OCH) LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

~~5~~
STAFF COSTS
Salary
Social security costs
Pension contributions		 2021
2020
£
£
34,921
37,887
1,109
2,113
2,792
2,727
38,822
£
42,727
£

OCH Combined Trusts' only employee is its Company Secretary. No employee received emoluments of more than £60,000.

No remuneration or expenses were paid to the Trustees and no expenses have been waived.

~~6~~ TANGIBLE FIXED ASSETS

COST
Freehold property
Leasehold property
Equipment
Minibus
DEPRECIATION
Freehold property
Leasehold property
Equipment
Minibus
NET BOOK VALUE
Freehold property
Leasehold property
Equipment
Minibus		 1 April 2020
Additions
Deletions
31 Mar 2021
£
£
£
£
552,111
-
-
552,111
48,296
-
-
48,296
138,491
8,066
-
146,557
31,125
-
-
31,125
770,023
£
8,066
£
-
£
778,089
£
1 April 2020
Provision
Deletions
31 Mar 2021
£
£
£
£
144,893
9,331
-
154,224
28,978
1,932
-
30,910
118,499
5,812
-
124,311
6,225
6,225
-
12,450
298,595
£
23,300
£
-
£
321,895
£
1 April 2020
31 Mar 2021
£
£
407,218
397,887
19,318
17,386
19,992
22,246
24,900
18,675
471,428
£
456,194
£

The freehold property includes land at its historical cost of £200,000.

The Trustees/Directors of the Company have decided not to appoint an independent expert to value Odiham Cottage Hospital for the purpose of these financial statements.

7 INVESTMENT IN GROUP COMPANIES

Shares in subsidiary companies 2021
2020
£
£
100
£
100
£

On 1st June 2014, OCHCT acquired 100 ordinary shares of £1 each in OCH Shops Ltd, which represents 100% of that company's share capital.

OCH Shops Ltd was established on 4th March 2014 and the trading activities of the League of Friends' shops were passed to that Company on 1st June 2014.

15

ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (incorporating the League of Friends of OCH) LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

8 OTHER INVESTMENTS

8 OTHER INVESTMENTS
Unrestricted Endowment 2021 2020
Funds Fund
£ £ £ £
UK Listed Investments
Value at 1 April 2020 207,769 2,091,211 2,298,980 2,597,442
Additions - 5,000 5,000 10,000
Transfer to cash accounts - ( 101,742)
 ( 101,742)
 ( 68,902)
Net realised gains/(losses) - 25,320 25,320 ( 1,090)
Net unrealised gains/(losses) 11,619 172,295 183,914 ( 238,470)
Value at 31 March 2021 £ 219,388
 £ 2,192,084
 £ 2,411,472
 £ 2,298,980
Cost at 31 March 2021 £ 179,480
 £ 1,886,837
 £ 2,066,317
 £ 2,049,111
At 31 March 2021, the following investments were valued at greater than 5% of the total portfolio:
M&G Charifund 19.5% BlackRock Charishare 18.50%
Cordea Savills Property 19.8% CAF deposit account 13.80%
COIF Fixed Interest Fund 18.6% Schroder Charity Eq Fund 6.30%
9 DEBTORS
2021 2020
£ £
Tax recoverable 887 1,351
Prepayments 938 31,378
£ 1,825
 £ 32,729
**10 ** CREDITORS DUE WITHIN ONE YEAR
2021 2020
£ £
Trade creditors 8,103 24,191
Accruals 34,050 1,750
£ 42,153
 £ 25,941
**11 ** ENDOWMENT FUND
1 April Movement in resources 31 March
2020 Net Outgoing Net Gains 2021
£ £ £ £
Endowment fund £ 2,091,211
 £ (96,742)
 £ 197,615
 £ 2,192,084

The endowment fund was originally established by the Trustees to provide income to support the running costs of the hospital. That income is now available to support health and social care services to the community. At the discretion of the Trustees, except where the donors have expressly requested otherwise, the fund may be used for major capital developments at the hospital if required.

16

ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (incorporating the League of Friends of OCH) LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

12 RESTRICTED FUNDS

TRICTED FUNDS
1 April Movement in resources 31 March
2020 Incoming Depreciation 2021
£ £ £ £
Restricted funds £ 26,221
 £ -
 £ (2,962)
 £ 23,259

The restricted fund represents the net book value of items acquired using donations made in support of specific asset purchases.

13 DESIGNATED FUNDS

Property fund 1 April
Movement in resources
31 March
2020
Incoming
Depreciation
2021
£
£
£
£
445,207
£
8,066
£
(20,338)
£
432,935
£

The property fund represents the net book value of the freehold property and equipment

14 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Unrestricted Restricted Restricted Endowment Endowment Total
Funds Funds Fund Funds
£ £ £ £
Fund balances at 31 March 2021 were represented by:
Tangible fixed assets 432,935 23,259 - 456,194
Fixed asset investments 219,388 - 2,192,084 2,411,472
Net current assets 71,924 - - 71,924
Total funds £ 724,347
 £ 23,259
 £ 2,192,084
 £ 2,939,590

15 COMMITMENTS UNDER OPERATING LEASES

In March 2006 OCHCT entered into a 25 year lease with Hampshire County Council for the use of land on Mayhill Junior School as a car park. The lease may be terminated by OCHCT at 5 yearly intervals.

At the year end OCHCT had annual commitments under this lease as follows:

Operating lease which expire within 2 to 5 years 31 March
31 March
2021
2020
£
£
4,761
£
4,761
£

17

ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (incorporating the League of Friends of OCH) LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021

~~1~~ 6 COMPANY LIMITED BY GUARANTEE

The company has no share capital and is limited by guarantee. The liability of each member in the event of a winding up as stated in the Memorandum and Articles of Association is limited to £1. Annual membership may be applied for in return for a subscription of £5 or more per annum. Individuals and spouses are entitled to apply for life membership in return for a gift or commitment of £250 or more.

Due to the above the Trustees consider that there is no ultimate controlling company.

~~1~~ 7 CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES

There were no capital commitments or contingent liabilities as at 31st March 2021

18

ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (incorporating the League of Friends of OCH) LTD UNRESTRICTED FUNDS INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2021

INCOME
Clubs and societies
Individuals - Donations
- Regular Giving
Gifts in memory
Minibus income
Firms & organisations
Property income
Investment income received
OCH Shops Ltd
TOTAL INCOME
CHARITABLE ACTIVITIES
Cost of service provision
Link nurse
SMH Hospice at Home
Befriending Service
121 Youth Counselling
Sunshine and Showers
Complementary Therapy
Rosefield Day Centre
Canine Assisted Learning
Citizens Advice Outreach
Homestart
Other
Costs of providing hospital facilities
Depreciation of building & equipment
Maintenance and repairs
Utilities
Telephone
Other premises expenses
Commercial insurance
Minibus depreciation
Sundry hospital expenses
Cleaning
Car park rent
Leasehold amortisation of car park
Management and administration
Staff costs
Printing, postage and stationery
Sundry management expenses
Governance costs
Independent examination fees
Staff costs
TOTAL EXPENDITURE
NET DEFICIT		 £
£
£
£
1,709
4,092
2,532
2,943
3,395
4,093
460
530
-
1,824
250
-
21,070
21,545
85,808
90,677
60,000
70,000
175,224
195,704
54,282
6,483
55,000
30,000
23,000
26,536
21,500
19,100
2,298
9,192
1,377
3,880
3,571
4,456
6,151
4,315
-
5,000
9,000
2,000
-
373
176,179
111,335
13,781
11,602
7,808
11,521
8,963
9,863
2,612
2,443
3,202
2,738
3,870
4,480
6,225
6,225
1,761
2,538
6,848
6,383
4,856
4,856
332
332
60,258
62,981
31,058
34,182
610
903
1,096
1,751
32,764
36,836
1,835
1,660
7,764
8,546
9,599
10,206
278,800
221,358
103,576 )
(£
25,654 )
(£
2021
2020
13,781
7,808
8,963
2,612
3,202
3,870
6,225
1,761
6,848
4,856
332
31,058
610
1,096
1,835
7,764