REGISTERED CHARITY NUMBER: 1075889 REI)ORT OF THE TRUSTF.ES AND FINAIYCIAL STATEMENTS FI)R THF. YF.AR F.NI)F.I) 31 DF.CEMBER 2024 FOR JF..SIIS HOSiPITAL IN CFIII>I'IN(: IIARNF,T Kcclings Lil)) ited Statutory Auditor5, ClidrtLred Tax Advisers and Lhartered Certified Accountants Broad Flouse l The Broadway Old Haifield I lertfiTrrdshire AL9 5BG
JFSUS HOSPITAL IN CHIPPINC. BARNET CONTF.NI".S nF THF. FINANCIAL STATF.MENTS FOR THE YEAR F.NDED 31 DECF.MBER 2024 Report ofthe Trustees Report of thL. Independent Auditnrs Statement of Finaneial Activities Balance Sheet Cash Flow Statement 10 Notes lo the Cash Flow Stutement Notes to the Fin#nciMI Stalcml'nts 12 to 23 Dctailed St81cment of Financial Activities 24 to 25
JESUS HOSPITAL 111 CHIPPIP4G BARLYET REPORT OF THF. TRU.(i'l'Tr:F.S FOR THE YF.AR ENDED 31 DECEMBER 2024 The trustees present their report with the financial 5taiements ot- the charit! for the year ended J l December ?024. The trlisieeq have adopied the provisions of Accounting and Reportiiiiy by C.haritics: Siatemcnl of R¢coininended Practice applicable to charities preparing their aLLounts iii acci)rddnce wilh the I'-inancial Rcporting Staiidai'd applicable iii thc UK and liepublic of Ircland {F RS 102) {effective l Januar), 2019). 011.IF.C.TINIF.S AP4D ACTIVITIES Objeclii'¢s and ainis 'I'hL Jesus 1405piI(Il Charity's priinary aim is to provide almshouse accommodation to ladies over 50 years of age who meet the Charity's eligibility criteria. Th¢ Charity has 63 almshouses which are sited on 6 estates in Barnel. In addiiion to ihe almshouses, the charity also Manages commercial and retail properties and defrays oul of it5 combined property income all charges in respect thereof, together with all proper costs, charges and expenses incidental to the administration of the Charity. Significant activities 'l-l)e cliarity wLIci)11)Ld two (2) new residents. 1 wo units remain vacant as at 31 December 2024 pending Lonipletion of the oftice renovation works. No properties were purchased or disposed of. Une ( l ) Trustee resigned, three (3) new Trustees were co-opted alung with the Council Representative being co-opted in the year. A new, part-lime Gardener joined th¢ charity on 3 January 2024. Wfirks JI IL IS ldrrying out a planned. continuing programme o*. repairs and maintenance on the almshouses tollowing reported dilGipidKiliui)s aiid recoii)i)Icndalioiis fr()In EliiH'ciis aiid I ladlcy surveyoi's. Thc charity is also conccmcd about energy elliciency and are Lnsuriii¥ the repair5 address problLms ol. insuldlion. l)liiiin¢.d rL.furbisliiiieiit of- the ottices ne¢ired completion al IhL ¢nd ()r IhL year and tlie staff move-in dale is early 2025. JHC contiiiued 10 uiilise space (Il the Potlcrs Litne silL as 41 ILiiiporary office. Public bcncfit The 'fruslecs have gTiven due consideration to the Charity Commission's published guidance on the operation of the public bcn¢tit rcquircmcnt. -I'he .1 ruslecs consider the piiblic benefit provided to be the provision of subsidised hou%ing for ladies, who nicel the Charity's qualityingF criicria. Beneficiaries of the almshouse accoinmodalion musl be in need and drawn from the areas specified within ihe Scheme. In addition, the Charity provides financial a%8i%lance to approved lipplicants ai)d orgai)isalitins within the C.harity's geographical sphere of operation, referred to as "Reliel. iii Need" (RIN). The Trustees believe the Charity contiiiues to be successful in mceling its charitabl¢ objectives. (Frant making The surplus incoine ot- the Charity is, in the firsl insldiice, lo be applied for the benefil of the residen15 in th¢ almshoiises of Ihc Charity and, thereafter, for Relief in Need (RIN) for residents in the area of bcnefil and secoi)dly. in exceptiolliil cases, for those residents immediately outside Ihe area of benefit. Grants may be made to boih organisali0115 and individuals. All qualifying applicants for RIN receive careful conqideration of their grant requesls by ihe RIN sub-committce and are approv¢d at main Trustee meetings. ACHIF.VF.MF.NT AND PERFORMANCE Charitahle activitie5 The Charity aim5 to ensure the properties are Inaintained, fully compliant with fire, energy and electrical safety regulations. The RIN sub-committee approved £38,467 of grants during rhe year supporting requests froiii local charitie5, £800 to the Queen Elizabeth Precept and the Almshouse residents also benefiied from £3,930 of support. Page I
JESUS HOSPITAL IN CHIPPING BARNET REPORT OF THE TRUSTEES FOR THE YEAR Ef4DF.D 31 DECEMBER 2024 ACHIEVEMF.NT AND PERFORMANCF. In%'estments Thc Cliarities investment portfolio continued lu be iinpacled by world evenl£ notabl), Ukraine war, political instability aiid the lingJeriiig problem4 froiii Covid. -l-he income gencraled in the year was £623,071 and value of Investinenls held in¢reas¢d from £9.170,607 to £9,X02.678 FINANCIAL RF.VIEW Principal fundinR sources The financial position of the Charity is set out in the accompanying accounts. The Charity's incoming resources are substaiitially generated from the fixed asset investments together with maintenance charges receivable Iroin tlie almshouse residents aiid rental inc()Inc froni coniinercial tenants. ThL V<iluc of Ihe Charity's fixed asset invL51tncnts !LXLluding tangible assets) al 31 sl DLLember 20?4 amounted to £15,092,678 {2023.. 114,358,107) including freehold Iiiveslmeni property with a mark¢t value of £5,290,000 (?023.. £5,187.500}. Total income for the year was £950,?48 (20?).. £()08.531) showing an iiicreasc Loiliparcd lo the previous year. After d¢ductiiib) ¢xp¢ndilur¢ totalling £796,0?0 (?02i. £879,177), Ihe nei inconiii)g resourles of Ihe L'harity prior to net invcsinient gains wcre £1.54.228 (2023.. £29.345). After allo¢alions to and troni desi&Jiiclted funds there is a nel increase of£127,296 in the reserve Accumulations of Income resulting in a year-ei)d balanLe on the account of £387,792. A full summary of the movements in the reserves is given in note 15 10 the accounts. Reseri'es policy "I'lie TrLislce51)ave examined the requircinenl foi free reserves, wl)i¢h arL' Iho%e not inve51ed in fixed assels, dL'sigJii<ilL'd for spL'Lifi¢ purposcs or otl)erwi8e coinn) itted. Tl)L'y LuiisidLr thai il is dcsirahle to Inaiiil&iin a bulanLL' ol. ac¢umulaled income in Ihe region of £2.50,000 as a workin&1 balance and also to provide a sum to rneei eontingcncies whicli ii) Ibl)I arise during the year. Ai 31 sl December 2024 such accumulations amounted lo £387,729 S I'XUC'I'URE, ('()Vb.RNANC".F. ANI) MANAGLMLNI. CJUI'eriiin% document Jesus Hospital in Chipping Barnet is ui)iiicorporaled and was founded in 1679 by James and Mary Ravenscrofi. In its current forii) Ilie Chariiy is iidministered under a Sclieme Inade by the Charity Commission on 9 June 1999. Jesus I lospilal in Chippiiig Barnel. Th is was entered by the Charity Comm ission in the C¢ntral Register of Charities as No. 107.$889. JF IC recognise the Scheine w()rdii)B iieeds lo be updated and improved. Wilbraham Hospital Charity was incorporated with Jesus Hospital Charity with effect from August 2010 for the purposc ofrL'bFislr(Ilion and accounling. Tl)e Charity doe5 noi fundraisc and s¢ck5 to coiitinlie the work desired by th¢ fuunders by careful steward.ship of ils Lxisliiig I'e8ource5. The Board of Trustees comprises eleven Co-Opl¢d Visitors and one Non)inat¢d Visilor. The eleven Co-opted Visitors arl appoinled by the Board of Trustees and serve for five years after which period Ihey may be considered for rc-appoinlmcnt. The Noni inated Visili)r 15 Put fonvard by the local authority (London Borough of Ban)et) and serves tor tour years. RL.fLrence and Ad m inistratii'e Details RL.lir¢iicc dnd ddni ii)islrative dLt<iils of. Ilie Trustee5 of thc Charity and ils professional advisers are shown on page 3 of this Report. Thc Trustees I'hc '] rustees H.ho scrved the charity during7 the period of this report are set out on page 3 of this Report. Page 2
JESUS HOSPITAL IN CHIPPING BARNET REPORT OF THE TRUSTF.F.S FOR THE YEAR EP4DED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANACEMENT Recruitment and appointfflent of Trustees (know'n as Visitors) Wlieii appointing repl¢ll¢lllL'ni or addilioi)al 'l"ruste¢s, the '] riistces have regard to ihe mix ol expertise required and seek ¥ly. l-his ma). be aLhicv¢d through open advertisement, dialogue wilh other Charities or, professional lo recruil accordiiio or personal contacts. The Trustees are aware of the value of skills that each Trustee brings to the Charity and the), acknowledge the importance of mainiaining aiid eiihaiiLing those skills through the sharing of knowlcdgc and training. Nem I rusiees receivc a welcome pack, which conipri5es ol. a brief Iiistory of ihe Charity, togeiher with a copy of tl)e Schcinc, minutes, aLLoiinls <ina reports for At least the previous year and they are also made aware of their powers and responsibililies. Trustees occasionally make unotticial visits to the office and Charity estates especially when their knowledgc or opinion is particularly helpful. RF.FF.RF,NCE AND ADMIN15TRA'fivF. DETAILS Registered Charity number 1075889 Princip#l address Raveiiscroft l.odgc 37 Union Street E3drnet F.N.5 411Y Trustces Mr J M Q-risp Kevd S B S R055iter-P¢lers Mr R Teare Mrs P Cairncross Mrs S Sowerby Mr% A Mcl'.N¥'an Mrs H'I aylor l.<idy J Huli)ie Ms R Daitshell Mr P Fromant Mrs J Peacock Cllr L Whysall Auditors Keelings Limilcd Sialiilory AudilDr8, Chartered Tax Advisers aiid Cl)artered C.crtilied Accountdnis Broad 14ouse 1 I'lie14roadway Old I IdifiL'ld Heitlordshire AL9 5BG STATEMF.NT OF TRUSTF.F,S' RF.SPnNSilBILII'IES Tlie Iriislees are respoi)5iblc for prepciriiig Ilil RLpiiri ol. the Trustee5 and the finaiicial 5talemen15 in accordance with applicable law and lJniled Kingdoin Accoiinling Standards (Llnited Kingdoin Generally Accepted Accounting Practice) including P inancial Reporting Siandard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" Page 3
JESU.S HOSPITAL IN CHIPPING BARNET REP()RT OF THF. TRUSTEF,S FOR THb: YEAR F.NDED 31 DF.CEMBER 2024 STATEMF.NT Ob TRUSTEES, RF.SPONSIBILITIF.S - continued The law applicable to charities in Ensyland and Wales, the Charitics Act 2011, Charity (Accounts and Rcport5) Regulations ?008 and Ihc provisions of the trusl deed requires the Iruslees to prepare tinancial slatemenls for each financial year wl)ich give a truc and fair vicw of the slate of affairs of the Lh<irity and ()r the incoming re<iiurces and applicalioii of resources, including the income and expendillire, ol. the cliarity for that period. In preparing tliose financial Slalements, the trustees are required to select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charity SORP; make judgernents and estimates that are reasonable and prudent; siaie whether applicable acLOUnting standards have been followed, subject to any material departures disclosed and explained in tlic financial slalements; prepare the financial statements on the going concern basis unless it is inappropriate to presume thal the charity will continue in business. The trustees are responsible for keeping proper accounting records H,hich disclose with reasonable accuracy at any tiine IIIL. fiiiaiiLial position of Ihe chiqrity and lo enable il)eni lo cnsurc thal tlic finai)cial slilteiiienlq LC)Iiiply witl) tlie Clidritie5 Act 201 I, the Charity (Accouiits and Reports) RLgTulations 20011 (Ind the provisions ol. Ihc trust dced. I'liey are also r¢sponsible for safegYuardin4 the assets ol" the charity and hcnre for taking rea.sonable steps for the prevenli()n and deleLlivn of fraud dnd otlicr 1C)ularl1]eS. Approved by ordcr of Ihe board ot-trustees on and signed on its behalf by: Mr5 B l<iylor- Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF JF.SIJS HOSPITAL IN CHII)PING BARNET Opinion 'e liave aiidiled Ihe financial statements of Jesus Hospital in Chipping Bdrnei Ithe 'charity') for the year ended 31 Deceinber 2024 which comprise the Siaiemeni of F inancial Activities, the Balance Sheet, Ihe Cash Flo, Siatement and noie8 to the financial statements, including a summary of significaiit accounting pol icies. The financial reporting framework that has been applied in their preparation is applicablc law and United Kingdom Accounting Standards (Llnited Kinsdoji) Generally Acc¢pt¢d Accouiiting Pr&lCtLCC}. inrludiiig fiiiaiicial RcponiIig Siai)dard 102 'Thc Fiii£lllCI(Il Reporting Standard applicabl¢ in the UK aiid Republic of Ir¢land'. In our opinion the financial statemcnt5'. give a Irlie (Iiid fair view of Il)e slate of the charity's affairs a5 al 31 December 2024 and of its incoming resources and application of resources, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Eieporting Standard 102 '-1-he F inancial Reporting Standard applicable in the UK and Republic of Ireland,; and have bc¢n prepared in accordance with the requirements of the Cliarilie5 Act 2011. Basis for opinion We coiidiiciL'(l oiir audii in accordance with International Standards on Auditing (IJK) II%As (IIK)) and applicab le law. Our responsibilities under those standards are further described in the Auditors, re5ponsibililies tor the audit of the financial stateinents section of our report. We are indep¢ndcnt of the charity in accordance with Ihe ethical requirements thal arc rclcvant 10 our audit of the financial statemcnls in the UK, iiicludinb the fRC's Ethical Standard, and il'e have luifilled our otlier ¢ihi¢al responsibililiL's in aLLord(Iiice witli Iliese requir¢inLnls. We belicvc thai thL' <iudit LvidLnLe we have obtained is sufficienl and appropriate to provide a basis for our opinion. Concliision5 relatin% to going coiicern In auditing? the linLinLial sl(?Icincnls, we have concluded that the trustees, use of the going concern basis of accouiiling in the preparaiion of the financial slalemenls is appropriate. Bascd on Ihc work wc havc pcrfornicd. wc havc not idcnlified any material uncertiiintie5 relating lo events or condition5 that, iiidividually or collectively, may L<lSt significiini doubl on the charily's ability 10 colliiiiue as a goiiig concern tor a pei'iod of <ql leasl IwL'lvc iiioiiilis froiii i¥hLn Ihc finai)Lial slatcmci)t5 iirc aulhori5ed for issue. Our responsibilities aiid (he responsibi lities of the Iruslee5 Wlth respecl lo going concern are described in Ihe relevant sections of Il)is report. Other information 'l-hL' IruslLc5 arL' rc5ponsible for thc othcr inforniation. Thc other infonnation conipri5e5 the infon)ialion included in the Aiinual Report, other than Ihl. financial Statements and our Report ot- the Indepeiid¢ni Auditors IhLrcon. Oiir opinion on the tinancial slalem¢nls does not cuver the other intoriiialion and, except to the exteni otherN%'ise explicitly stated in our repart, we do not express any fomi of assiironc¢ coi)clusion thereon. In connLclion wilh ()ur audit of the financial statenienls, our responsibility is to read the other infonnation and, in doing so, consider whetlier the othcr information is materially inconsisl¢nl with the financial statements or our knoH,ledge obtained in tlie audit or otlienvise appears lo be liicilL'ficilly iiiisslalLd. Ir WL. idLiitif)' suL'h mdlurial inLollsistcnLics or apparent Inaterial misslat¢menls, we are required lo delennine wliell)er thi5 give5 rise lo a material mis51atemeiil in tlie financial statements themselves. If, based on the work we have perfornied, we conclude thal there is a material misstalemenl of this other information, w¢ are required lo report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in re%pect of the following iiiatlers where the Charities (Accounts and Reports} Regulations 2008 rcquii'es us to report to }'ou if, in our opinion: the inloniialiun given in Il)e Report of Ihe Trustees is inconsistent in any material respect with the financial slalements; or sufficient accountin¥ reLord.s have not been kept. or the financial staleinents are not in agreemei)t ii'ith the accounling record5 and return5,' or we have nol rL'Leived all the inforn)ation and explaiiations we require for our audit. Page 5
REPORT OF TIIE lTrDEPENDEfT AUDITORS TO THE TRUSTEES OF JESUS IIOSPITAL IN C.HIPPINC BARN'F.T Re_sponsibilities of trustees As cxplaincd niore fully in the Statement of Trustees, RespongiE)ilities, the trustees are responsible for the preparation of the finaiicial statciiieiits which gyiy¢ il true and lair view, aiid for such inter]ial control as tlie trustees deterniine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or Crror. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to coniinue as a going concern. disclosing, as applicable, matters related to going concem and using the going concern basis of accoLintingF unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Our respoiisibilities for the audit of the fjnancial Statements We liave been appoiiiled as aiidi(ors Lll)der Section 144 of ihe Charities Acl 201 l and report in accordance with the Aci and relevaiil regulatioiis Inade or haviiigj etlect thereunder. Our objeLtive5 are tu obiain reasonable assurance about whether the tinancial slalemeiits as a whole are t.ree from Inaterial m i5Staleinenl, wlieihL'r due ti) frdud or errur, and to issue a Report of the Ii)dependent Auditors that includes our opinion. Reasonable a55urance is il hibyh level of assurance, bul is nol a guaranlL'L' Ihal an audil Conducted in a¢LurdanLe with ISAS (UK) will always delect a Inalerial Inisstateincnl wlicn il ¢xi515. Misstaloineiits can arise from traud or error and are considcrcd maicrial it., individually or in the aggpr¢g?al¢. they could reasonably be expected to intluence the economic decisions of users taken on the basis of Ihcse financial slalcmcnts. The extcnt lo which our procedures are capable of delecling IegUlarl11e5, including fraud is delailed below.. Wc giaincd an uiid¢r%laiiding? uf the lebjal dnd rL'giulalory frainework applicdble lo Ilie Iiilily aiid the indLlStry in wl)iLli il operates aiid considered the risk ol. aLls by MandgyLinenl and which were Lonlrary Io dppl icable laws arid regiulalioiis, including fraud. These included, bul were not limited io, compliance wilh Financial Reporting Framework fRS 102, Charities Act 2011, General Data Prolectiun Rcgulations, and applicablc Ilealil) and Safcty and Employmcni .egJislation. We madc enquiries ol. tl)¢ Tnistees of ihe Chariry lo obiain further Linderqlandingy of the risk4 ()f non-compliancc. Wc Iocu5ed on l<lll'S and rLb)ulations Ihal cuuld giivc riSL Iv cl 111(ItLfi¢tl iiiissl¢ilciTiClit in Il)L findllLial stalemenls. Our lesls included. but were not liniiled to.. abjreemenl of Ihc financial statcnicnl disclosures to underlying supporting documentation,. enquiries ot. Maiiagement rebiarding known or Suspected in5tanLes ol. non-complianLL with laws and rcgulalions: reviL'W l)f miniile% ()f thc 14nard meetings thrc)ugh()Lil the year: obiaining an understanding of the control environment in place lo prevent and delecl irregulariti¢s. Our audit procedures were designed to respond to risks of material misstatement in the financial siaiemenls, recogiiising that the ri8k ()f n()I detccting a matcrial misslaiemeni due to fraud is higher than the risk of not detecting one resulting from error. Ilecause ol- the inherenl limilalions of an audit, there 15 a risk (hal we will not dL.tL'Lt all irrL¥ularilies, risk increases the Inore that compliance M'iih a law or regulation is reinoved trom Ihe events and IransL)Ctions rellecled in the financial Statements, as we will be less likely to become aware of in5tance5 of iion-compliance. The risk is also greaier regarding7 irregularities A further description of our r¢5ponsibilities for the audit of the financial slatemenls is located on the Financial Reporting Council's website al www.frc.org.uklauditorsresponsibilities. This description forms part of our Report of the Indcpendent Auditors. Page 6
REPORT OF THE INDEPF.NDENT AUDITORS TO THE TRUSTEES OF JESUS HC)SPITAL IN CHII'I'ING 1SAKr4E'r Use of our repnrl This report is Iiiade solely to the charity's tru51ees, as a body, in accordance with Part 4 of ihe Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charit) s trustees those matters i%'e are required io siaTe to them in ali auditors. repon and for no other purpose. To IhL. fullesi exleiit perniitted by law, wc do iioi acLepi or assui)Ic respoiisibility to aiiyone othcr thiin thL charity and thc charity's Irustccs as a bod)., for Ulir audii work, for this repon. or for the opinions we have fornied. Keelings Limited Siaiutory Aiiditors, Chanered Tax Adviser5 and Chartered Certitied Accountants Broad House l The Broadway Old Ilailield I l¢rtlordshire AI.9.St3CJ t)ate'. Page 7
JESUS HOSPITAL IN CHIPPING BARP*'ET STATF,MFNT OF FINANCIAL ACTIVITIES FOR THF. YEAR F,NDED 31 1)F,C.F.MBER 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted fund Endowment fund Note5 INC.'UMTr: AND ENDOWMF.YI TS FROM t)onations 1,000 I,ovo Investment income Residents, contributions 512,386 399,650 12,401 24,1111 524,787 424 461 490.410 418,121 Total 913,036 37,212 940,248 908,531 EXPF.NDITURE ON Raising funds - investment Inanagcincnl costs 137.891 137,891 141,284 Charitable activitie5 Administration K¢sidents Almshouse Ravcnscroll Lodgyc - flats l & 2 62-7? W()i)d SirLL'I 88-911 Woi)d Sireei (irasvenor Avenue (1-15) 11{)IlLrs l.an¢ (1-16) Gaet8 (76-86 Wood Street) 167,628 167,628 154,134 53,600 4,094 4,094 10,966 27.963 27,90J 6,1126 120.12fj 13?,037 34.339 20,099 i11¥.0.4u 27,6911 20,069 2116 108,0$0 27,698 20,069 286 InvLStmcnl Prop¢rties Gardei)s Relief in Need Wilbriih(Im511-6) Qucen EIiLabeth Precept 74A Wood Slreel (1-2) Potters Lane Conipound 57.1100 40,038 35,745 400 12,768 12,452 37,667 37,667 29,176 800 8,102 29,176 800 8,102 1 S,528 Other 12,720 12,720 Total 766 1144 796 020 1179.177 Net gains on investments 15,548 660,364 701409 581430 NET INCOME 171,689 23,584 660,3()4 8SS,637 610,784 RF.CONCILIATION OF FUNDS Total funds brought forward 2,$78,601 435,763 14,078,113 17,092,477 16,481,693 "roTAL FUNDS CARRIED FORWARD 2 750,290 459,347 14,738,477 17 948,114 17 092,477 The notes forni part of these financial statements Page 8
JESUS HOSPITAI, IN CHIPPING BARNET BALANCF. SIIF.F.T 3] DECEMBER 2024 2024 Total funds 2023 Total funds Unrestricted fund5 Restricied fund Endowment fund Notes FIXED ASSETS Till)gible assets nN'estments Ini'esliiieiii Investment property 10 2,047,384 2,047,384 1,600.395 924,330 464,535 8,413,813 9,802,678 5,2911,000 9,170.607 5,187,500 924,330 464,535 15,751,197 17,140,062 15,958,502 CURRENT ASSETS Debtors Cash at bank and in hand 13 51,868 1,86(),669 2,261 7,449) S4,129 849,500 1,012,720) 1,167,775 ,921,S37 (5,188) (J,012,720) 903,629 1,229,348 CRF.DITnRS Aiiiuuiils lalliJ)g due within one year 14 (95.577) (95,$77) {95.373) NET CURRENT ASSETS 1,825,960 5,188) ,012,72U) 808,11.52 1,133.975 TOTAL ASSF.TS LI,:% CIIRRF.NT LIAIIILI'I"IF. 2,750,290 459J47 14,738,477 17,948,114 17,092,477 NF.T ASSF.TS 2 740,2YQ 451),347 14,7J8,477 17 C)411,114 17.092.477 FUNDS Unre5tricled tunds Re51ricled lunds Ei)dowineni funds 15 2,750,21)0 449,347 14 738,477 2,578,601 435,763 14078 113 TOTAL FUNDS 17 948,114 17 092,477 The financial slaicments were 12pproved by the Board of TrustL'es and authorised for i%5ue on and were signed on its belidlf by.. B Taylor- C S Soii'erb}' T stee The notes form part of these financial statements Page 9
JESIIS HOSPITAL IN CHIPPJNG BARNF.T C.ASH FLOW STATF,MENT FOR THE YEAR ENDED 31 DTr:CF.MBfr"K 2024 2024 2023 Noles Cash flows from operating activities Cas11 g¢n¢rated fvom operations 157,972) 227.579) Nei cash used in operating activities 157,972) 227.579) Cash flows from investing activities Purcliase ot tanoible fixLd assets Purchas¢ of fixed a5&L4I inv¥sliiienls Siile of fixed assel investments Unit Trust income received Reiilal income rcceived Investment management costs Interest received Dividends r¢¢eivLd (494,571) (941,92S) 908,763 57,989 278,156 ( l J8,1163) 39,2119 130 1159 {1,244,fj98) 1,34U,915 39.286 270,001 (141984) 22,041 1 ?9,-585 Net cash (used in)Iprovidcd by investing activities 1611,303) 414.532 Chun%L' in cash and cash equii'alents in Ihc reporting period C.'ash and L#%h CqUiVAl¢nts At the bigiiining of the rep()rtiiig pi'riod {318.275) 186.953 1,167,775 980.822 Cu511 And cash e(iuii'#lents al thc cnd of the reporting period 849,500 1 167 775 The notes forni part of these financial statements Page 10
JESUS HOSPITAL IN CHIPPING BARNF.T NOTIS TO THE CASII FLOW STATEMF.NT FI)R THE I'EAR F.NDED 31 DECEMBF.R 2024 RF.C.ONCILIATION OF NET INCOME TO IYET CASH FLOW FROM OPF,RATING ACTIVITIES 2024 2023 Net income for the reporting period (as PLr the S'talement of Financial Actil'ities) Adjustments for: Depreciation charges Gain on investmei)ts Interest rec¢iv¢d r)ivideiids received Unit Trust iiicome received Renial income received Inveslmeni maiiagemeni costs Dccrease in debtors Increase ii) crldilors 855,637 610,784 47.456 (581,430) (22,041) {199,585) {39,286) (270,001) 141 ?84 5,439 9,801 (701.409) (39,289) (130,059} {57,989) {278,156) 1311,063 7,444 204 Net cash used in operationi (147,972) 227,579) ANAI.YSIS OF CHANGES IN NET FIINDS Al l.1,24 Cash flow At31.12.24 Net cmsli Lash ai bank and in hand ,167,77S 318 275) 849,-500 167 775 318,275) 84VJ 500 Total 1,167,775 318 275) 849,-500 The notes fonn part of these financial statements Page 11
JESUS HOSPITAL IN CHIPPING BARNET
NOTES TO THE FINANCIAL STATEMF,NTS
FUR'fHE YEAR ENDED 31 DECF.MBER 2024
ACCOUNTIIYG POLICIES
Basis of preparing the financial stalements
'I'he financial statements of the charity, M'hich is a public benefit entity under FRS 102, have been prepared in
accordancc with the Charities SL)KP (I.'R8 10?) 'Accounting and Reporting by Chariiies.. Siateiiiciit of
Recommended PracliLe applicable to charities preparing Ilieir accounts in accordance with the Financial
RLPOrting Standard applicable in the UK and Republic of Ireland (FRS 10?) (effective l January 2019),,
inancial Reporting Standard 102 'The financial Reponii)g Siaiidard applicable in the UK and Republic of
Irelaiid. and the Charities ALI 2011. Tlie IiiidnLial slateineiils have been prcparcd under th¢ historic£l1 co%1
convention, with the exception of investmenls which are incllided al markcl Viiluc, as Inodified by the
revaluation of certain assets.
Income
All inLom¢ is recognised in ihe Statement of Financial Activities once ihe charity has entitlement to the funds, il
is probable that the incom¢ will be received and the amount can be measured reliably.
F.xpendlture
.idl)ililic.% are recognised as expLnditure as 500n as there is a legal or con5tructiv¢ obligation Lommitting Ihe
harity to that expenditure, it is probable thai a transfer of eLonomi¢ benefits will be required in setileineni dnd
the amoiini of the ()bli¥alioii car) be measured reliably. Expcndilurc is accounted for on an accriials b<1515 (Ind has
been ¢las%ificd undcr liL'adinbJs Iliat aggiregiale all Lost rL'lulLd lo the calcg>ory. Where coqts C(Inni)I bL' dirLLIIy
attribuicd lo particular heciding5, Ilie>' liavc been allocated to activities on a basis consistent with the use of
resources.
Grants are made by the charily Irom lime to time to provide tunds 10 qualifying organisations and individuals in
the charity'8 geographical area of operation in their lime of need.
Rai4illg funds
'I'lILsc I'L'prLsent costs incurred by Ihe Inanageinent and administration team, altributable to the Inanageineni ol.
the charity s assels, org¢inisalioii<il ¢idni inistration and coinpliance with 51alulory requirements. 'I'hese include the
custs associated wilh the investment properties.
Charitable 8etivities
C.hcll'ildblL ¢tLlivili¢s are all the resoiirces expended by the charity that is directed al the achievemenl uf its
haritable aims and ubjeLliv¢s. Support costs are separalcd and thL5¢ ar¢ Losts incu]Ted lo enable the charitable
activities lo take place.
Governance costs
Govemance costs include all cosis associated with the ¢iTrinpliAnce of thc IcbJal framework of the charity,
iiicludiiig dudil aiid
JESUS HOSPITAL IN CHIPPING BARNF.T NOTES TO THF. FINANCIAL STATF.NqF.NTSi _ continued Tr'OK"I'HE YEAR ENDTr-D 31 DTr:CF.MBER 2024 AC.C.OIINTING POLICI ES _ continued Taiigibl¢ fixed a55etS Freehold properties used for charilable purposes are reflected in the financial slalemenls at cost. The building element of the cost of 37 Union Sireei is being written off ovcr th¢ ¢xpccted useful lif¢ of Ilie propcrty of 50 years from purchase with ct'tcct froni I sl Januilry 2000. Any additions or improvements to freehold property are to be writteii off over an exp¢cted useful life of 50 years from the dale of acquisition. Where alinshouse5 were construcled in earlier cenliirics there is no record of their original cost and in any case, this wiTruld have been longJ since written oft-. Illhere orig7inal cost infomialion is avai lable relating to ¢xpenditur¢ on Ihe alnisliouses, this ha5 been capiialised and depreciated over its expected useful life. Freehold properties are subject to a periodic impairment review by the Visitors. T#xution The charity, is exempt from income and capital gain5 lax on ils chariiable activilies. Fund Acc()uiiliiiR c[)111 Tr-.ndnw'ment Tlie Clp11a] endoi¥'ii)enl ndS represent the original endowments of the charity. The income arising within this fund is wholly unrestricted. Aecumullltion of Income Fund 'I'his consists ol. the a¢Liiiiiu11c lc'd income of the charity and is unrestricted. Transt"ers to and from this fund is considered by the Visitors on an annual basis. F.xtr#ordinary Repair Fund -I'his I'eprL'%LI)14 dc%i¥TII(IIL'd unrestricted fund5 sel aside and used by the Visitors for the purpose of extraordinary rcpairs required lo thc alinshous¢s. Propertv Refurbi.%hment & Madernislltion Tr"und - Alm.shnuse5 l-hi% reprLbLnls desiLiiiJlLd uiirL'.%ll'iLIL(I Iiii)ds sel 125idc aiid ii%cd by Ihe Visitors for the purpose of almshouse refurbishment and niodernisalion. Property Kcfu rbish mcnt & Moderni5ati(In Fun(J - I nvestrneni PrDpertie.s 'I'hi.s repre%ei)1s de%igTnic lcd unrcslricled tiii)(1s %el &1SidL' and u5cd b). thc Visitors for Ihe purpose of investment propLrty refurbishment and modernisalion. Reserve Fund5 'I-IIL'%L repi'eseiil designaled unrestricted fund% sel a8ide and used by the Visilors for the piirp05e of dcvelopmeni and improveinenl c)f the almshouse cstate.5 and c)f inveslinenl propcrtlL'5, the provision nf Relief iii NL'L.d grLlnts and for the CyLlical maintenance of the properties. Residents, fuii(J Thi5 fuiid hds been set up for donation5 and legyacies received and is used lo benefit the residents livin¥ in the almshouses. Wilbrahdm's There is a fund for the 'united' charity Wilbraliam's F4ospital Charity. Tliis includes all assets from their previous accounts and all incoine and expenditure for their almshouses this year. This 15 a restricted fund for the use of the Wilbrahatn's alnishouses only. Pc115ion 10515 dnd other post-retirement benefits I'IIL Lliarity curreiiily Inakes Linfunded noii-coiilraclual pension payinents Io Lertain fomier ¢inployces. Such payments are chargLd to Ihe statement of financial activities as incurred. Pavmen15 to ihe Charity's defined contribution scheme for current qualifying employees are chargJed to the Statemet71 of Financial ALlivities iii tlie year in which Ihc payments are due to be InadL. Payments tor past service arc recognised in the year in which the liability to niake Ihe payment is accepted. Page 13 continued...
JESUS HOSPITAL IN CHIPPING BARNET NOI'ES TO THE, FINANCIAL S'I'ATEMENTS - continued FOR THF. YEAR ENDED JI DECF.MBF.R 2024 ACCOUNTING POLICIES- continued I nvcstm¢iit propirties and other invtstmcnts Investment propcrty is shown at f(iir value and is valucd annually b>w the Visitors (Trusiees) and at least everv 5 years by an external expert. Any annual surplus or deficit recognised is transferred to the fund of which the properly fomis a part. RLfurbishn)cnt costs on the Lominercial properties are capital ised. The costs associated with converting income tunded almshouses into residential properties are also capilalised. Other investmenls are shown al market value as delcnnined by independent advisors, any unrealised gain or1055 being transferred to the fund of which the invesiment foms a part. The nel gains and losses arising on revaluation and disposals during the year are included in the Sialement of Financial Activities. DONATIONS 2024 2023 l.egaci¢s 1,000 INVF.STMENT INCOME 2024 2023 Rents rec¢ived from rental properties Income from unit trusls ' ixed inlcrest l)iwidciids from cquities InlLfL51 from deposiis COIF deposit interest 278,1$6 77,283 34.14ll7 270,201 68,.$8i ?().Q41 l U3,544 9,409 1?,632 23.874 524,787 490 410 Reco&vni&t,d gllins and 1055e5 2024 2023 Fixed asset investments gain on disposal F ixed a55cI investn)ents - gainl{loss) on revaluation Investment property gain on revaluation Net giain/(loss) on investment assets 429,IJ54 102.500 701409 531,893 581429 11 giiins and IDsses arc t¢ikLn to tlie Statement of I". inancial Activities as they arise. Realised gains and1055es on invesimenls are calLulated as the dift¢rence bctw¢cn sale proceeds and opening market value (purchase dale if later). Unrealised gains and Ios5e5 are calculated as ihe difference between market value at the year end and opening market value (or purchase dale if later). Realised and unrealised gains are separated in note I l. Page 14 continued...
JF.SUS HOSPI'fAL IN CHIPPING BARNET NOTES TO THE FINANCIAL liTATEMENTS- conlinued FOR TIIE YEAR F.NDED 31 DF.CEMBER 2024 RAISING TrUIYDS- INVF.STMF.N'f MANAGF.MENT COSTS Investment management COSt5 2024 2023 Portfolio managcnicnt Properly manaoenicni costs Investment properties utilities and insurance Investment propeny maintenance 32,622 18,227 9,864 77,178 29,662 24,912 70,435 137.891 141.284 CHARITARLF. ACTIVITIES COSTS A I I charitable aclivilic8 on the Stalement of Financial Activities relate directly to the cl)arity's objectives with the CXCCPlion of the follow ing.. Adiiiii)islratiL)ii - Suppurt ciisls (Managieiiient) £ $7,464 ai)d SLlPPiIrt L051 {Governance) £?1,989. Relief it) NLed - Granls funding activiiies £38,467 (see note 6 for further dclails). Wi Ibi'aliain's (1-6) - Dii'eet cosls £?9,176. GRANTS PAYABLE 2024 2C23 Relief in Need Queen 1]Labeth Precept 37,667 800 40,038 400 'I'he lolal ¥ran15 paid to institutions during th¢ year was £34.537 (2023.. £36,338). The total grants Piiid lo individuals during the year was £3,930 {2023.' £4,100). The .1 rusiees, Report provides fuller detail ol. Ihe grants paid in the year. .SIIPP()RT COSTS (ioveriiance costs Maiia8cni¢Mt Totals Administration Wilbral)am's {1-6) 21,989 79,143 310 310 57,464 Page 15 continued...
.IF.SUS HnspiTAL IN CHIPPINC BARfiET N()TF.S TO THE FINANCIAL STATF.MF.NTS- continued FOR THF. YEAR ENDF.D 31 DECEMBER 2024 TRUSTEES, REMUNERATION AND BF.NEFITS There were no Iruslees. remuneration. expenses or other benefits for Ilie year ended 31 si D¢cember 2024 nor for the year ended 3 1st December 2023. STAFF COSTS 2024 ?023 W4iges and salaries Social security cos15 Other pension costs 252,149 21,606 29,497 222,120 18,016 ?4,?78 303,252 264,414 'l-he average monthly number of employees during the year was as lollows: 2024 2023 Adni ini%lratioii Resideiils l.iai50n Cjeiierdl Maintenance GardL'Iis No vinployees received emolumcnts in ¢xccss of £60,000. Staff co.sts have been alloLatcd, u5ill&F a pcrL¢nlage forniula agreed with the l.'inance orricer in an carlier year, across cost ccntrcs for charitabl¢ activities, and support costs for adm inistralion and governance. DurinbF the year the Charity's key management personnel received lolal emoluments of £83,376 {2023.. £79,380). io. I'ANGIIILF. FIXF.D ASSF.TS F'ixtures <ind Iittings Freeliold properly Plant and niilLhinery CO.¢iT Ai l Janliary 2024 Additions Disposals 2,fi47,-594 441,2146 3,872 24,761 9,931) At 31 December 2024 2,488,880 DF.PRECIATION Ai l January 2024 Charge for year Eliminated on disposal 4.$4,313 1,638 ,277 24,761 Ai 31 December 2024 496,266 2,915 14,830 NF.T BOOK VALUE At 31 DLL¢inber ?024 ,992.614 957 At 31 December 2023 1,592 ?81 2,234 Page 16 continued...
.IF.SUS HOSPITAL IN C.HIPPINC. BARNET NOTF.S TO THE FINANCIAL STATEMF.YT.S - continued FOR TIIE I'EAR ENDED 31 DECEMLIER 2024 10. TANCIBLE FIXF.D ASSETS- continued Motor vehicles Computer equipment Totals COST At l Jaiiuary 2024 Additions Di.8posals 17,400 2,-580 5UO 2,U96,207 494,571 9,931} At 31 Dccember 2024 17,400 3,080 2,580,847 DF:PRF,CIATION Ai l Jaiiuary ?024 Charge for year Eliininated on disposal 12,088 4,350 A,412 1,002 495,812 9,931) Al 31 December 2024 17,038 2,414 533,463 IYF.T IIC)()K VAI,UE At i l Deccii)bLr ?0?4 362 666 2,047,3144 At 31 DL'ccinber 2023 4,712 1,600,395 Currenily there are 57 almshouses managed by Jesus Hospital Charity. Thesc incorporate previous cliarilies known d5 Garrel's and Pagill's Charity. The oribJindl almshouses known as Ilic Hospil<il siluated ai 62172 Wood Sirect werc provided by James Ravenscroft in 1672 and established as Jesus Huspilal in 1679. 'rhe lolal insurance value of all these iterns amounls lo £11,266,040. Wilbraham's 111)spital C,harity was united with Jcsus I10spilal Charity during ?010. I"hey have 6 almshouses, wilh an insurance value of £956,725. Where almshouses were conslructed in earlier centuries there is no record of their original cost and in any case. th is would liave been long Since written off. Where original cost information is aviiilable relating lo expenditure on the almshouses, this ha5 been rapitalised and deprecialed over ils expected useful life. FIXF.D ASSET INVTr"lil'MTr'.N'rs ixed intercsl Stocks LislLd equities Uiiit rusts 'rolals MARKET VALUE Ai l Jaiiuary 2024 Additions Disposals Rev(Iluation Profit and loss on disposal 623,241 49,031 3,X28.1168 850,798 (507,491) 258,133 39,417 4,71 lJ,2yiI 41,490 {401,272) 277,604 29,538 9,170,607 941,925 (9118,763) $29,954 68,955 (5,783) Ai 31 December 2024 667,089 4 468 925 4 666,664 9,802 678 NF.T BnnK VALIJF, Al i l DccciiibLr 2024 667,089 4 468,925 4,666.664 9,802,678 At 31 December 2023 623241 3,828,068 4719298 9,170,607 There were Unil Trusts with a market value of £317,124 (2023.- £317,400) held outside the UK. Page 17 continued..
JESUS HOSPITAL IN CHIPPINC, IIARNET NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDF.D 31 DF.C.F.MBF.R 2024 FIXED ASSET INVESTMENTS - continued Cost or valuation at 31 1)ecember 2024 is rLpresenled by- Fixed interes¢ slocks Lisled equitiiDs ljnit Tru41 Tntals Valuation in 2024 C051 (84,898) 751,987 1,486,014 2,982,911 ,926,910 2,739,744 3,328,026 6,474,642 667,089 4,468,925 4,666,664 9,802,678 If fixed asset investments had not been revalued, they would have been included at the following historical cost.. 2024 2023 Cosl 0.474,653 6.294,)34 The portfolio is Currently split wilh 47.86 /0 F quities. 7.140/0 Fixed Interest, and 45.00 % Unit Tru5t5. 12. INVF.STMENT PROIIF.RTY FAIR VALUE Al l Jaiiliarv ?0?4 RcvaluatiDn 5,187,500 102,5110 At 31 December 2024 5 21)0 000 NF.T BI)()K VAL.UF. Ai 311)ecember 20?4 S,290.000 At 31 December 2023 5 187500 Inv¢8tincnt prop¢rties above Comprise 5 ¥hops and 6 flats on the High Road, Whetstone. l.ondon. N20. and 5 liouses oi) Uiiioi) SireL.I, B<ll-IILI, LN5. A full valuation of the invesirncnt propertie5 was carried out at 3 Isl December 2024 by SLdgwi¢k (registered with the Royal Institute uf Chartered Siirveyors) for Ihc putyose5 or th¢ accounts and for no other purpose in the total suin of £5.290,500. Th¢ ncxl independent valuation will be 31 sl Deceinber 2029. Page 18 continued...
JESUS HOSPITAL IN CHIPPING BARNET '()TES TO THF. FINANCIAL STATF.MI ENTS - contsnued FOR THE I'EAR F.NDED 31 DECEIIIBER 2024 12. INVES'fMF.NT PROPERTY - continued Fair value at 31 December 2024 is represented by.. Valuaiioii in 2003 Valuation in ?004 Valualion in ?005 Valuation in ?006 Valualion in 2007 Valu<ilion in 2008 Valuation in ?01 I Valuation in 2015 ValLtaiion in 2020 Valuation in 2024 Cost 7S8,699 350,000 802,864 425,337 (7,896) {377,617) -508,763 ,2$4,$1)O $48,-500 102,$00 923,350 5,290,000 13. DF.BTOKS.. AMOUN'fs FALLING DUF. WITHIN I)Nfr: YEAR 2024 2023 Rent debtors Accrued incoine Prepayments 39,147 41,224 14,982 19,236 61,573 14. CKF.DII'()RS: AMOUNT4) FAI,LING DUF. WITHIN YEAR 2024 2023 Taxaiion and social security Other creditors 6,IOC) 89,016 95,373 Page 19 continued...
JESUS HOSPITAL IN CHIPPINC BARNET NOTE.S TO THE FINANCIAL STA'fF.MENTS - continued FOR THE YIAR ENDED 31 DF.CTr:MHF.R 2024 15. MOVEMF.NT IN FUNDS Net movement in funds At 31.12.?4 At 1.1.24 Unrestricted funds Lxlriiordinary Repair fund Property Refurbishnieiit & Modemisalion Fund - Almshouses Property RLfurbishment & Modernisation rund - Investment Properties Keserve Funds future D¢velopment and Improvement of the Alinshouscs Accumulations of Income Future Development and Improvement of Investmeiit PrDpertics [' uturL' Ii)Iprovemenl of Adminislrative Office 683,982 44,393 728,375 274,000 275,000 200,UOO 9,186 200.OnO 9,186 400,000 260,433 400,000 387,72Y 127,296 200,UIIO 200,000 540,000 550,OOU 2,$78,601 171,689 2,750,290 R¢strict¢d funds Wilbraham I lospilal Charity 435,703 449,347 F.ndoN'ment funds L apildl I'.iid()w iiient 14,078,113 060,364 14,738,477 TOTAL FUNDS 17,092,477 17948 114 Net movcment in tunds. included in ihe above are as follows.. Incoinin8 resources Resources expended Gains and 1055es MovLmei)I in funds IlnrL'5tricted fund% xlraurdiiiary Repair Fund Accumulations of Incoine 18,896 894,140 25,497 44,J93 127,296 {766,844) 913,036 (766,8441 25,497 171,689 Restricted fund5 Wilbi'aliain I pital L harity 37,212 (29,176) IS.548 Endowment funds Ciipildl Lndowmeni 660.J64 660,364 TOTAL FUNDS 9$0,248 796,020) 701,409 854,637 Page 20 continued...
.IF.SLIS HC)SPITAL IN CHIPPINC BARNET NOTES TO THE FINANCIAL STATE111F.INTS - continued FOR THE YEAR F,NDED 31 DECEMBER 2024 15. MOVEMENT IN FIINDS- continued Compgratives for mov'ement in funds Net moveni¢iil in funds Transfers bciwLLn funds At 31.12.23 At 1.1.23 Unrestrieted funds E¥traordiii(iry' Repair Fund Property Refurbislimenl & Modemisation Fund - Almshouses Propcrty Refurbishmeni & Modernisation Fund - Investment Properties Fiilure Development and Improvement of the A Imshouses Accumulalions of Income Residcnls Fund Futurc DLVLlopi?ienl and Improvemeni of Invesliiiciii Pr()pLnies Futur¢ Improveinenl of Adm inislrative Office 702,292 (17.722) 684,570 275,000 275,000 200,000 200,000 400.000 282,171 9.186 400,000 ?59,845 9,186 27.674 (50,000) 200,000 200,000 500.000 $50.000 2,568,649 Re5tricled funds Wilbraham I lospital Charity 9,952 2,-578,601 428,014 7,749 435,763 F.ndi)wment funds 13,485,030 593,083 14.078,113 TC)TAL Tr"IINDS 16,481.693 610784 17.09?,477 Cumparalive net Inoveinenl iii funds, included iii the above are as tollows.. Incoming resource5 Resources expL'nded Gains and losses Movemcnl iii fuiid Iliii'estricled fujids F.xlrdordinary' Repair Fund Accumulations of Income (17.7?.3) 825,709) (18,310) (17,722) 27,674 853.383 871.694 Restricted fu nd5 Wilbraham Hospital Charity (843,432) (18,310) 9.952 36,837 (35,745) 6,657 7,749 F.ndownienl fil nds Capital Liiduw'incnl 593,083 593,083 TOTAL FUNDS 908.531 879,177) 581,4.30 610784 Page 21 continued...
JESUS HOSPITAL IN CHIPPING BARNET NOTES TO THE FINANCIAL STATEMENTS- conlinued FOR THb. YEAR ENDED 31 DF.CEMBF.R 2024 15. MOVEMENT IN FUNDS- continued A currcnl year 12 monihs and prior year 12 monThs combined p051tion is as follows.. Net movement in funds Transfers belween funds At 31.12.24 At 1.1.23 Un re%tricled fu nds Lxtraordii)ary RLpair Fund Property Refurbishment & Moderni5ation Fund - Almshouses Property Refurbishment & Modemisaiion Fuiid - Investmenl l)ropLrti¢S Future Development and Improvement of the Almshouses Accuiiiulations of Income Residents Fund Futiire Development and Improvement of InvLslnieiii Properties ' Lilure Improvement of Adminisirative Officc 702,292 26,671 7?8,963 275,000 275,000 200,000 200,000 400.000 282,171 9,186 400,000 387,141 9.186 154.970 (50,000) 200,000 200.000 500.000 50.000 550.000 2.568,fA9 181,641 2,750,290 Re.41 ricted fun(Js Wilbrali£llll I luspilal Charity 428,014 31,333 4.$9.347 F.nd0ment funds Capital l. ndowment 13.485,U30 1,253,447 14,738,477 TOTAL FIINDS 16481693 1.4(}{).4?1 17.948.114 A current year 12 months and prior year 12 months combined net movement in fund5, included in the above arc a5 follows: Incoming rc'51111r¢es Resources expended Gains and Iossc5 Movcmcnl in fiindq Un restricted funds ' xtrilC)rdiiiary Rcpair Fund Accumulalions of Iiicoiiie 37.207 1747,$23 (17,723) (1.59?,553) 7,187 26,671 154970 1.784,730 {1.610.276) 7,187 181,641 Restricted funds Wilbr(Iliam I lospilal Charity 74,049 (64,921) 22,205 31,333 Enduwment fund5 Capital Endowinenl 1,253,447 1,253,447 TOTAL FIINDS 1858 779 (1,675,197) 1,282,839 1466421 Page 22 continued...
JESUS HOSPITAL IN CHIPPING BAILYET NOTES TO THF. fiNANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DF.CEMBER 2024 16. RELATED PARTY DISCLOSURF.S There were no related party Iransactions for the year ended 31 Dec¢mber 2024. TAXATION 17. No provi.sinn is required for UK taxalion since the Chariry s activities fall within Ihc special cxciiiption for charitable activities given by section 505 of the Incomc and Corporation Taxes Act 1988. PEN.%ION COMMITMENTS 18. The Charity coniributes 80/0 ofeligible employees, gross annual %alaries for the benefit of their personal pension funds. Thc funds arc held in separately admiiiislered fuiids b), Roydl London. Emplo)'er contribuiions to the scheme for the year amounted lo £16,777 for 5 employees (2023.. £12,16.5 4 employees). The Charity is CUentlY making unfunded non-contractual pension payments of £1 0.649 pcr annum to the widow of a former employee out ot- its geiicral income. In addition, lh¢ Visilors agreed 10 make a non-contractual pension payment of £2,071 per ¢innuin lo an employee who retired dl the end of 2006. '1'hese costs are expensed when paid. Page 23
JF.SIIS HO4iPITAL IN CHIPPING BARNET DETAII,F.D STATEMF.NT ()F FINANCIAL ACI'IVITIES FOR THE YEAR ENDED 31 DECF:MBER 2024 2024 2ffr23 INCOMF. AND F.NDOWMLNTS Donations 1,000 Investment income Rents received from rental properties Incoiiie fron) unil trusis Fixed interest Dividends from equities Interest from dcposils Colb" dep05it interest 278,1$6 77,283 34,807 95,2S2 23,874 270,201 26,041 103.fj44 9,409 524,787 490,410 RLSidents' contributions Q onlribulions Iroin residents 424,461 418,121 Total incnm ing resources 950,248 908,531 EXPF.NIIII IIRF: Iii%'eslment m#n#Rement Costs Portl(Trli() Indnag?LiiiL'nl Property managLni¢nt c()sls InvestinL'nl propL'rties utilities and insurance InvLstmLnt propL'rty Inaintenai)ce 32,622 IS,227 Y,864 29.66? ?4.91? 16,?75 70.435 137,891 141.284 ChAritable activities Wagc5 Social security P¢'iisions Insurance .ight and heat RL'pairs Rate5 and iyater Other gFardLn costs Legal and professional Depreciation of tang?ible fixed assets Grants 10 in8lilulion5 Grants to iiidividua15 215,168 17.682 180.J68 14.?63 10,783 10,963 113,714 1.52,747 14,346 32,985 18,631 47.45.f 36,338 4,100 17,1198 78.7n7 611,OJ I 16,29. 35,408 15,29J S65,956 642.693 Othcr Pensions 12,720 12,114 This page does not form part of the statutory financial statements Paoe 24
JESUS HOSPITAL IN CHIPPING BARNET DETAILED STATEMENT OF FINANCIAL ACTIVITIES -()R THE YEAR ENDED 31 DF,CF.MBER 2024 2024 202i S'upport costs Management Wages Social securily Pensions Admin expenses 27,736 2,943 .089 25,696 26.814 2,815 1,036 30,800 57,464 61.465 Gol'ernance costs Wages Social security Pensions Auditors, remuneration Auditors, reiT)uner4ltion for non-audit work 9,245 981 363 6,nnO 8,938 938 345 6,000 5,400 21,989 21.621 .1 otal resources expended 796,020 879,177 Net income 154,228 Thi5 page does not fomi part of the statutory financial staternents Page 25