ODIHAM corrAGE HOSPITAL COMBINED TRUSTS {Incorporatlng the League of Friends of OCH) LTD UNAUDITED FINANCIAL STATEMENTS 31 MARCH 2025 Company Reglstratlon Number 3527407 Charlty Number 1068721 GODDARD & CO 3 Church Street Odiham Hook, Hampshire RG29 ILU
ODIHAM COThAGE HOSPITAL COMBINED TRUSTS (incorporating the League of Friends of OCH) Ltd FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 CONTENTS Legal and Admlnistrative Information Trustees Annual Report Independent Examlnerfs Report Statement of Financial Actlvities Summary Income and Expenditure Account 10 Balance Sheet li Notes to the Financlal Statements 12 Unrestricted Funds Income and Expenditure 18
ODIHAM COThAGE HOSPITAL COMBINED TRUSTS {incorporatlng the League of Friends of OCH) Ltd LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDED 31 MARCH 2025 Charlty Name Odiham Cottage Hospital Combined Trusts (incorporatln8 the League of Friends of OCH Ltd (with effect from 24 July 20141 Previously Odiham Cottage Hospital Charitable Trust Previously Odiham Cottage Hospital Redevelopment Trust Charlty Reglstration Number 1068721 Company Reglstratlon Number 3527407 Reglstered Offlce and Operatlonal Address Odiham Cottage Hospital Buryfields Odiham Hook, Hampshire RG29 INE Dlrectors and Trustees Drj A Worlock G Deverill Mrs D C Heald Dr H C F Heywood Dr CJ Hunter l N MacDonald Mrs C M Mayes Mrs J Rowlandson Mrs C M Mitchell Chairman from 16.4.24 Hon Treasurer Retired 16.4.24 Chalrman retired 16.4.24 Company Secretary Mrj Talbot Mrs V C East From 30.9.24 Retired 30.9.24 Independent Examlners Goddard & Co 3 Church Street Odiham Hook, Hampshire RG29 ILU Bankers Lloyds Bank PIC 174 Fleet Road Fleet Hampshire GU514DD
ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (incorporatlng the League of Friends of OCH) Ltd TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2025 The Trustees present theirannual report and Independently examlned financial statement5 forthe year ended 31 March 2025. STRUCTURE, GOVERNANCE AND ACTIVITIES Governin Document Odiham Cottage Hospital Combined Trusts lincorporatlng the League of Friend5 of OCHI Ltd I'OCHCT") is a company limited by guarantee whlch was registered as a Charity (number 10687211 on 13 March 1998. The company was originally known as Odiham Cottage Hospital Redevelopment Trust IOCHCRE) but its name was chan8ed in August 2009 to Odiham Cottage Hospital Charitable Trust and then to Odiham Cottage Hospital Combined Trust5 {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. Ob'ects Aims and Activities The Charity provides public benefit through the relief of sickness bv: Ownin8, runnlng and malntaining the Odiham Cottage Hospital IOCH) Developing OCH and any other property to provide a base for the provlsion of health and social care, either: o Through inpatlent beds, outpatient cllnics and appointments, day centre activities and communlty group activitles o In the local community through associated services based at OCH Such care is to be provided prlmarlly, but not limited, to the residents of Odiham, Old Baslng, Hook, Hartley Wintney and surrounding villa8es Further, the Charity may provide financial support to medical and soclal care services in the community Or anisational Structure OCHCT is managed by a Board of Trustees which met six times In the year. 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 varlety 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 tradin8 activities which are carried out by it5 wholly owned subsldiary, OCH Shops Ltd. This company is managed by a committee that meets as required, whilst supervislon 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. The investment portfolio is managed by a committee of the Treasurer and ex Trustees each with a finance background, and reports to the Board twice yearly.
Recruitment A ointment Induction and Trainin of Trustees At each Annual General Meeting, one third of the Trustees must retire and, if eligible, may seek re-election. At OCHCT'S AGM, to be held on Tuesday 15th July, Mrsjulla Rowlandson and Mr C Hunter will retire and, being eli8ible, will seek re-election. 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, tQ8ether with the operational framework of the Charityi its financial and strategic plans and objectives, Risk Mana ement 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 maln assets,. the hospital building and its flnancial resen/es which are enhanced by its shop trading activlties. 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 Partles In so far as it Is complementary to the Charity's objectlves, OCHCT is gulded by both local and national health and social care policy, Wherever possible, representatlves meet with senior management from the NHS, HCC Adult Seniices, Hart District Councll and other interested parties to endure that the Charity delivers the best possible services to its community. ACHIEVEMENTS AND PERFORMANCE Mustard Seed Autlsm Trust continue through the second year of a three year lease agreement, and Hart Voluntary actlon remaln In the Annex building. Additional flnancial support has been given to Hart Voluntary Action and St. Michaels Hospice this year as our own operations and investments continue to perform well. The Company Secretary, Mrs V East retired in the year and was plaCed by Mrj Talbot. The in-house Befriending Servlce continued to operate under the sole management of OCH and our Befriending Manager Mrs Tina Birch with a regular core of volunteers. The Trustees remain commltted to supporting the local needs of younger children and thelr families, particularly given the on-going impact of the pandemic on the mental health of young people. The Trustees now provide financial support so that children in need at Hook Infants and Juniors, Mayhill Juniors and Robert Mays School can access therapy through Canine Assisted Learnin8. Meanwhile, the Homestart parent and young family support group continue their weekly meetings in Hook and the Trustees have committed to continue to 5UPPOrt the group. The OCH Annex has enabled Hart Voluntary Action to provide a programme of support to young people and, where appropriate, their families. Funding for such services remains extremely tight, despite demand
exceeding available resources, but OCH have again provided additional funds this year to ensure the service can continue to operate at previous levels. The documented success of the link nurse role at the Whitewater surgery contributed to the appointment of a Frailty nurse at the Odiham/Old Basin8 surgeries In April 2023. The purpose of the role is to provide proactive care to support those less able to access GP services, thereby reducing demands on GP time and avoiding admissions to acute hospital units. The three retail shops in Odiham, Hartley Wintney and Old Basing had another extremely successful year, in part thanks to a national resurgence in charity retail but local initiatives by our managers have contributed to increased footfall and the trading Success. Online selling has proved popular and fruitful. In November 2021 the Trustees met to consider the long term financial future of the charity. They recognlsed the conflicting demands of current need for services and the requirement for the charity to continue to meet Its objects in the long term future. The success of the Shops has enabled the charity to continue to increase the amount of support It provides to local service5, whilst working towards a balanced budget. FINANCIAL REVIEW Unrestricted Funds As shown in the Statement of Financlal Activities, the Charity received unrestricted donations of £16,707 compared to £7,199 in the previous year. The Trustees are most grateful to receive the support of so many individuals, clubs and events in the year and in particular a local golf club that made a significant donatlon. As mentioned above, OCH Shops Ltd, the wholly owned subsidiary of OCHCT, made a record donation of £151,459 (compared to £145,000 in 2023/241 being profits made by the retail activities of the 3 shops. Income from investments was lower than the previous year as global economic uncertainty prevalled. In summary unrestricted Income amounted to £293,580 compared to £274,522 in the prevlous year. Expenditure on charitable activlties, totalled £299,853 compared with £268,645 In the prevlous year. Additional shop 8enerated revenue and property income has been used to help our existing partners in times of ever increasing need. Our Investments were subjected to turbulent markets as a result of some key global changes and uncertainty. Several investment changes were made by the Investment committee. In summary net gain of £317 was recorded for the year after unrealised investment 8alns, compared to a net income of £10,118 after unrealised investment gains in the previous year. Restrlcted Funds No restricted donations were recelved in the year; depreciation of the total portfolio of restricted assets arnounted to £1,600.
Endowment Fund Some years ago, the Trustees established an endowment fund in order to 8enerate income to support the Charity's running costs. At the Trustees, discretlon, 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. Investment Poli 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 OCHcfs need for Income. The portfolio generated £90,291 in the year compared to £100,149 in the previous year. The total Endowment fund grew in value by £21K to £2,484,214 Durlng the year there were additional funds invested of £221,815. The General Reserve grew by £6,590 to £212,858. Reserves Polic It is the policy of the Charity to maintain reserves and operational funds, whlch are the free resenies of the Charity, at a level which is sufflcient to cover Its operational obligations for at least two years. This provldes sufficient funds to ensure that the commitments of the Charity can be met for the foreseeable future, even in the event of a slgnificant reduction In Income. PLANS FOR THE FUTURE The focus of the charity has been to service the patients and clients defined in the Memorandum of Association. The building has been well maintained over the last few years with significant recent spends on updating the infrastructure. Most areas of the Hospital building are now used regularly throughout the week, both daytimes and evenings and Hook and Odiham Lions run Bi-annual clinics for PSA testing at weekends at the Hospital In May 2024 a significant bequest was received which will be rin8-fenced fordirect benefitto service provlders. Longerterm, the Board of Trustees remaln committed to provlding and expanding a range of health and social care services that respond to the needs of local people. RESPONSIBILITIES OF THE TRUSTEES The Trustees (who are also the Directors of the Company for the purpo*s of Company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Klngdom Accounting Standards (United Kin8dom 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:
Select suitable accounting policies and then apply them consistently Obsenie the methods and principles in the Charities SORP (FRS 1021 Make judgements and estimates that are reasonable and prudent State whether applicable UK accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statement Prepare the financial statement on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the flnancial posltion 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 takin8 reasonable steps for the prevention and detection of fraud and other Irre8ularities. In so far as the trustees are aware: There is no relevant informatlon of which OCHcfs Independent examlners are unaware, and The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiner Is aware of that informatlon INDEPENDENT EXAMINER Goddard and Co have been appointed to act as independent examlner as the Charity no longer requires an audlt SMALL COMPANY PROVISIONS Thls report has been prepared in accordance with the special provlslons for small companies under Part 15 of the Companies Act 2006. Registered Office: Odiham Cottage Hospital, Buryfields, Odlham, Hook, Hampshire, RG29 INE Signed by order of the Trustees: l. |i_cK LK] .[,dz Dr Jane Worlock, Chairman th Approved by the Trustees 15 July 2025
ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (Incorporating the League of Frlends of OCH) Ltd INDEPENDENT EXAMINER'S REPORT YEAR ENDED 31 MARCH 2025 I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. RESPONSIBILITIES AND BASIS OF REPORT As the charity's trustees of the Company {and also its director5 for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 Act'}. Havlng 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 examinatlon of your charity's accounts as carried out under section 145 of the Charitie5 Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515} {bl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I confirm that no matters have come to my attentlon in connectlon wlth the examination giving me cause to believe: l. 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 accountlng requlrements of section 396 of the 2006 Act other than any requirement that the accounts glve a 'true and falr view which is not a matter considered as part of an Independent examination; or 4. the accounts have not been prepared in accordance wlth the methods and principles of the Statement of Recommended Practice for accountin8 and reportlng by charltie5 appllcable to charltles preparlng their accounts in accordance wlth the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021, I have no concerns and have come across no other matters in connection wlth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Slgned: 1£rt71J . Peter Goddard FCA FCCA Address: 3 Church Street Odiham Hampshire RG29 ILU Date .
ODJHAWI COTfAfjE MOSPAl COMBINED TRUSTS IlbK•rporli L•¥u• d Frhndj of OCHI LTD STATEMENT OF FJNANaAL AcnvmEs YEAR ENOED 31 MARCH 2025 UhMrtrlÈt•d R•rtrfrt•d EndowmAt Not• lun& Fundi Atnd T•tsl 2025 Unrestrlcted Endowrnent Funds Fund5 Fund Totsl 2024 In¢•m• and •ndowM•nti fr#m 04n•tloni •nd l•i•¢l•i Donatlons Le8atlÈs Oth•r ti•dint Wl¥lllqs Income Irom group comp•nle5 In¢om• Ir•rn In¥eitm•nts lfieoM• f14)m ¢hritsbl• •rllvhh Prop•rty Inrome 1&707 1&707 22115 7.199 7,199 221,815 151.459 90,291 151,459 99,620 145.oc l(Kl.149 145.0 I.617 9.329 468 35,123 35,123 22,174 22,174 Tot•1 In¢•m• •nd •nd•wm•nts 293,580 231.144 524,724 274,522 468 274.990 Exp•ndkur• •n sh•rlt•bh art111 299.853 301,453 268,645 7,273 275,918 N•t ¥•lnillloMwl lrtv•rtrn•nt R•allffj•d UYbt•lli 116,4851 47.923 116.4851 52,164 6,590 11.722 IB,312 4.241 HET INCOMUIE¥PENDifuREI 317 lJ,6CQI 242,866 241.583 10.118 17.2ni 3L906 34.751 Tr4nsfets lw•on lur NET MOVEMINT IN FUNDS 317 11,6001 242,866 241,583 10.118 1?,2731 31,906 34.751 FUND IAiA14aS •1 •t l APRIL 2024 701.990 IJ,21KI 2,241.Y8 2.954.538 691.872 18.473 2,209A42 2.919,n7 FUND •ALANa$ M *1 li MARCH 2025 E 702,307 £ 9.6(Kl £2,484.214 E3,196.121 E 701,990 £ 11.2CQ £2.241,348 £2,954.538 The notes on pages 12 to 17 form part of these financial statements
10 ODIHAM COTTAGE HOSPITAL COMBINED TRUSTS (Inc the Lo•zu• of Frlends of OCH) Ltd SUMMARY INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2025 2025 2024 Not• INCOME 203,289 174,373 TOTAL EXPENDITURE 301,453 275.918 OPERATING DEFiaT (98,164) (101.545} OTHER INCOME Interest receivable and slmllar Income 90.291 l(K),149 NET INCOME/{DEFICITI FOR THE FINANaAL YEAR 7.873 1,396 Thls Summary Income and Expendlture account has been prepared in accordance with the Companies Act 2006. The net Income/ldeflclt} for the flnanclal year shown above is the net expenditure as shown In the Statement of Financlal Actlvitles on page 9 from Unrestrlcted and Restrlcted Funds excludln8 net 8ains/(losses) on Investments. All of the activlties of the charltable company are classed as continulng. The notes on pages 12 to 17 form part of these financial statements
11 ODIHAM COTtAGE HOSPITAL COMBINED TRUSTS (Inc the League of Frlends of OCH) Ltd 8AiANCE SHEET as at 31 MARCH 2025 Note 2025 2024 Flxed assets Tanglble fixed assets Investment in Group Companies Other Investments 432,960 100 1697.072 394.970 2,447.616 3.130,132 Current assets Debtors Cash at bank and In hand 2,842.686 15,636 68,357 83.993 7,620 110,118 117.738 Current IlabSlltles Creditors due within one year io 18,(K)4 (5,886) Net current assets / (Ilabllltles) 65.989 111.852 Total a55ets less current Ilabllltles £ 3,196,121 £ 2,954,538 Funds Endowment fund 2,484,214 1241.348 Restrlcted funds 12 11.21x1 Unrestrlcted funds Deslgnated funds General funds 13 423,360 278,947 383,770 318,220 702,307 £ 3.196,121 Totsl funds 701.990 £ 2,954.538 The Trustees are satisfied that the Charity is entitled to exemptlon from the provisions of the Cornpanies kt 21)J61the tl rtlatlng to the audlt of the financial statements for the year by virtue of section 477121. and that no member or members hove requested Jn Judit pursuont to section 47611) of theAct. The Trustees acknowledze their responsibilitles lor. 111 ensuringthatthe Charity keeps adequète accounting records which comply with Section 386 of the jnd Illl preparing financial statements which give a true Jnd fair view of the stste of affairs of the Charity as at the end of the f inancial year and of its profit or 105s for the linancial year in accordance with the requirements of section 393. and which otherwise cornply with the requirements ofthe *£t relatin8 to financial stattTrnts. so faras jpplicable to the Charity. These financial statements have been prepared in jccotdance with the special provislons for smJll companies under Part 15 of the Companies Act 2CX)6. These financial statements were approved by the Trustee5 on 15th July 2025. and are Signed on their behalf by. ' cILol bll,4, G Deverlll. Trustee Company Registratlon Number 3527407
12 The notes on pages 12 to 17 form part of these financial statements ODIHAM COThAGE HOSPITAL COMBINED TRUSTS Ilncorporatlng the Lea8ue of Friends of IXH) LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 I. ACCOUNTING POLICIES The principle accounting pollcies are summarised below. They have been consistently applied throughout the current and preceding year. al Basis of accounting The financial statements have been prepared under the historical cost convention, except that flxed asset investments are carried at market value as described below, and in accordance with applicable UK accounting standards, the Charitles SORP (FRS 102) and the Companies Act 2006. b) Cash flow statement The Trustees have taken advantage of the exemption In the Charities SORP {FRS 102) from includlng a cash flow statement in the financial statements on the grounds that the charitable company is small. c} Income 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. dl Expenditure All expenditure, including payments under operatlng leases, is accounted for on an accruals basis, is allocated to the appropriate cost category and excludes recoverable VAT. el Reserves The policy of the Trustees is to malntain 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 actlvlties in the event of any shortfall in future Income, f) Depreciation Depreciatlon is calculated so as to wrlte off the cost of an asset, less its estimated resldual value, over its useful economic life as follows: Freehold land Freehold building Freehold refurbishments Leasehold facilities Computer equlpment Other equlpment g) Taxation 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. h} Investments Fixed asset investments are stated at market value at the year end date. Unrealised investment gains and losses reflect the actual performance of the underlyin8 investments. il Basic financial instruments Cash and bank deposits are stated at amounts held. Debtors and creditors represent amounts settled after the year end and amounts advanced by/to the charity respectively. j) Operating leases Payments under operating leases are charged to the accounts on an accruals basis. k} Pension costs The Charity makes a contribution to a pension scheme for its two members 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. l} Governance costs NIL 2% on cost IO% on cost 4% on cost Ilife of asset) 25% on cost IO% on cost
13 Governance costs comprise the cost of running the Charity, independent examination, any legal advice for the Trustees and all costs of complying with constltutional and statutory requirements.
14 ODIHAM coAGE HOSPITAL COMBINED TRUST5 I111pOratIng the Le4ue of FTFends of OCH) LID NOTES TOThE HNANQAL STATEMENTS YEAR ENDED 31 MARCH 2025 INCOME FROM GROUP COMPANIES 2025 2024 Donatlon from OCH Shops Ltd 151,459 £ 145,0(Kl INTEREST RECEIVABLE AND 51MIIAR INCOME 2025 2024 8ank interest receivable UK listed investments 575 2,225 89,716 97.924 90,291 £ 1(KI,149 4 CHARITABLE EXPENDITURE Unrestrlrted Restrlcted Funds Funds 2025 2024 Cost of servlce provislon Cost of provlsion of hospital accommodation Depreclation Maintenance and repalrs Utllities Telephone Other premises costs Insurance Other costs Cleanlng Car park arnortlsatlon Car park rent Management and administratlon Staff costs other costs Governance costs Staff costs Independent examinatlon fees 162,397 162,397 149,T19 19.628 10,629 17,156 2.314 15,223 7,958 1,655 6.531 332 19,628 10,629 17.156 1314 15.223 7,958 1.655 6.531 1.932 21,169 12.565 16,446 2,741 3,575 4,852 2,077 5.537 1,932 4,857 36,617 3.373 36,617 3,373 37,089 9,273 1,937 1,938 1,938 299,853 £ I.6fv £ 301.453 £ 275.918 20% of the Company Secretary's tlme Is estimated to be spent on matters related to governance and this is the basls of cost allocation. OCH Combined Trusts has purchased insurance to indemnlfy all Trustees against Possible liabilities incurred by them in relation to theirdutles.
15 ODIHAM COThA6E HOSPITAI COMBINED IRUSTS liorPOratIng the League of Frltnds of (KM) LTD NOTESTO THE FINANC14I STATEMENTS YEAR ENDEO 31 MARCH 2025 5 STAFF COSTS 2025 2024 Salary Social securlty costs Pension contributlons 56.024 6,233 8,169 70,426 £ 58,432 2,415 65,853 OCH Comblned Trusts employ5 a Company Secretary and a Befrlendlng Servlces Manager. No employee reIved emolurnents of more than £60.IXO pa. No remvneratlon or expenses were pald to the Trustees and no expenses have been walved. .6 TANGIBLE FIXED ASSETS COST l Aprll 2024 Addltlons Deletlons JI Mar 2025 Freehold property Leasehold property Equipment 561.832 48,296 124,906 735.034 £ 561.832 48,296 184,456 £ T34,584 59,550 59,550 £ DEPRECIATION IAprll 2024 Provlslon Deletlons 31 Mar 2025 Freehold property Leasehold property Equipment 189,522 10,173 36,706 1,932 113,836 9,455 340,064 £ 21,560 £ 199,695 38,638 123,291 £ 361,624 NET BI)OK VALUE l Aprll 2024 JI Mar 2025 Freehold property Leasehold propÈty Equipment 3n,310 11.590 11.070 394,970 362,137 9,658 61,165 £ 432,960 The freehold property Includes land at Its hlstorlcal cost of £2(KI,(KKI. The Trustees/Dlrectors ofthe Company have decided notto appointan independent expert to value Odiham Cottage Hospltal for the purpose of these flnanclal statements. INVESTMENT IN GROUP COMPANIES 2025 2024 Shares In subsidlary companles I £ l(K> On 1st June 2014. OCHcf acquired IIX) ordinary Sha5 of £1 each in OCH Shop5 Ltd, wh5ch represents I( of that company's share capital. OCH Shops Ltd was established on 4th March 2014 and the trading attlvities of the League of Friends, shop5 were pa$5ed to that Company on 1st June 2014.
16 ODIHAM COThAGE HOSHTAL COMOINED TRUSTS {IworpoTating the ie•aue of FrSends of OCH) LTD NOTES TO ThE APIANCIAI STATEME14T5 YEAR ENDED 31 WCH 2025 8 OThER INVESTMEMts Unrestrlrted Endowment Funds Fund 2025 2024 UK Llsted Investments Value at l Aprll 2024 Net addltlons/dlsposals Transfer to cash ac£ounts Net reallsed galnslllosses) Net unrealised gains/{losses) Value at 31 March 2025 206,268 2,241,348 231,144 2,447,616 231,144 2,411,469 16,485) 6,590 IL722 18,312 52,164 212,858 £ 2,484,214 £ 2,697,072 £ 2,447,616 Cost at 31 March 2025 179,480 £ 2,148,404 £ 2,327,884 £ 1106,069 At 31 March 2025. the followlng Investments were valued at greater than 5% of the total portfollo: COIF Charitles Ethlcal Func 21.0% M&G Charifund Rathbone Core Charites 7.9% 16.7% M&G Charibond Cordea Savllls Property 8.2% 16.1% COIF Short Duratlon Bonds 11.1% Schroder Charity Eq Fund 10.8% 9 DEBTORS 2025 2024 Tax recoverable Prepayments Accrued Income 703 8,251 6,682 15.636 £ 1,340 7.620 10 CREDITORS DUE WITHIN ONE YEAR 2025 2024 Trade credltors Accruals 10,782 7.222 18,004 £ 3.536 2,350 5,886 11 ENDOWMENT FUND l Aprll Movement In resour5 Net Incomlng Net Gains 31 Mar¢h 2025 Endowment fund £ 2.241.348 £ 231,144 £ 11,722 £ 2.484,214 The endowment fund was originally estsblished by the Trustees to provlde income to support the runnlng costs of the hospital. That Income 15 now available to SUPPOrt health and social care services to the communlty. At the discretlon of the TTUStee5, except where the donors have expressly requested otherwise. the fund may be used for major capital developments at the hospital If requlred.
17 ODIHAM COThAGE HOSPITAL COMBINED TRUSTS IlrKoWpDr•ti the Leae of Frltnds of OCH) LID NOTES TOTHE FINAN(JAL STATEMENTS YEAR ENDED 31 MARCH 2025 12 RESTRICTED FUNDS l Aprfl 2024 Movement In resources Incomlng Depreclatlon 31 Marth 2025 Restrlcted funds 11,2CKI £ 11,600) £ The restrlrted fund represents the net book value of Items acqulred uslng donatlon5 made In SUPDOrt of SDecific asset Durchases. 13 DESIGNATED FUNDS l Aprll 2024 Movement In resource5 Incomln8 Depreclatlon 31 Maich 2025 Property fund 383,Tm £ 59,550 £ (19.960 £ 423,360 The property fund represents the net book value of the freehold property and equipment purchased by OCHcf. other than restrlcted assets. 14 ANALYSIS OF NET ASSETS BEfwEEN FUNDS Unrestrlrted Restrlrted Endowment Funds Funds Fund Total Funds Fund balances at 31 March 2025 were represented by: Tanglble flxed assets Flxed asset Investments Net current assets Total funds 423,360 212,958 65,989 702.307 £ 432,960 2.697,172 65.989 9,6(Kl £ 2,484,214 £ 3.196,121 2,484,214 15 COMMITMENTS UNDER OPERATING LEASES In March 2W6 OCHCT entered Into a 25 year lease with Hampshlre County Councll forthe use of land on Mayhlll Junlorschool as a car park. The lease may be terminated by OCHCTat 5 yearly Intervals. At the year end OCH had annual commitments underthls lease as follows: 31 March 2025 31 Marth 2024 Operating lease which expire withln 2 to 5 years 4.761 £ 4,761
18 ODIHAM COThAGE HOSPITAL COMBINED TRUSTS (Incorporatln8 the Lea8ue of Friends of OCH) LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 .16 COMPANY UMITED BY GUARANTEE The cornpany 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 Associatlon is limited to £1. Annual membership may be applled for In return for a subscription of £5 or more per annum. Individuals and spouses are entitled to apply for life membershlp in return for a glft or commitment of £250 or more. Due to the above the Trustees consider that there is no ultimate controlling company. .17 CAPITAL COMMITMENTS AND CONTINGENT LIABIUTIES As at 31st March 2025, there are no capltal commltments or contingent liabilitles.
18 ODIHAM COThAGE HOSpAL COMBINED TRUSTS {incorporatin8 the Leae of Friends of OCH) LTD UNRESTRICTED FUNDS INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2025 2025 2024 INCOME Charitsbletrusts and clubs Individuals. Donations Regular Givin8 Gifts in memory Property incorne Investment income received OCH Shops Ltd TOTAL INCOME 1,033 14.588 1.056 818 2.897 2,191 1.293 22,174 100.149 145.0 274.522 35.123 90,291 151,459 293.580 CHARITABLE AcllviTJES Cost of 5ervict provlsion Link nurse- Whltewater Frailty nurse- Odiham/Old Basinl SMH Hospice at Home Befriendin8 Service 121 Youth Counselling Sunshine and Sholvers HVA Adult mental health counsellinK Canine A55iSted Le)rnin£ Mustard Seed Autism Trust Homestart 20.(XXI 22.332 20,C 26.316 23.500 6.474 5.016 15.759 io.wo 13.IKK) 20.IJJ) 20,623 15,¢nl 21.859 23.5 9.192 15,605 io.( 13,(X Citizens VIce Hart 162.397 249.779 Costs of providini hospital facilities Depreciation of building & equipment Maintenance and repairs Util ities Telephone Other premises expense5 Commèrcial insur*nc• 19.629 10.629 17,156 2.314 15,223 7.958 1.655 6.531 4,948 332 15.496 12.565 16.446 2.741 3.575 4,852 Sundry hospithl expense5 Cleaning Caf park rent Leasehold amortisation of car park 2.077 5.537 4.857 332 86.374 68,478 Management and administration Staff costs Printing. postsEe and stationery Sundry management expenses 36.617 924 37,089 697 2,449 1.392 39,990 39.178 Governance costs Independent examination fees Stafl costs 1.938 9.154 1.937 9,273 11,092 299.853 11.210 268.645 TOTAL EXPENDITURE NET SURPLUS 1£ 6,2731 5.877