**REGISTERED COMPANY NUMBER: 04117752 (England and Wales) REGISTERED CHARITY NUMBER: 1083847**
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 December 2020
for
Watlington Hospital Charitable Trust
Debbie Winfield Accountancy Ltd The Office Homelands Upperton Watlington Oxfordshire OX49 5PB
Watlington Hospital Charitable Trust
Contents of the Financial Statements for the Year Ended 31 December 2020
||Page|
|---|---|
|Report of the Trustees|1 to 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6 to 7|
|Notes to the Financial Statements|8 to 13|
|Detailed Statement of Financial Activities|14|
Watlington Hospital Charitable Trust
Report of the Trustees for the Year Ended 31 December 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objects of the charity are the relief of sickness and the relief of disabilities of old age. These have been met by acquiring the site of the old hospital and arranging for WHCT's partners Sanctuary Care Limited (Sanctuary) to run and maintain the Watlington Hospital as a multi purpose Nursing Home. (The residents and patients are referred to the Hospital/Care Home by the Medical Practitioners based in Oxfordshire Primary Care Trust of the NHS.)
Longer term care, respite care, intermediate care and assistance for older people with mental health needs are provided by Sanctuary.The majority of the patients in all categories are placed by the Oxfordshire pooled budget of the NHS and Oxfordshire County Council as part of their block booking with Sanctuary.
Regular meetings between the care home management team and the trustees normally take place at which progress within the home is reviewed. However, these were disrupted by Covid-19.
## **Significant activities**
During the year the trust continued to provide ongoing support to the hospital's activities. This included the donation of equipment for use by the residents of the care home. The Trust also made a donation towards local Personal Protective Equipment procurement initiatives.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities and investment performance**
The Trustees are satisfied with the achievement of the charitable objectives outlined above. The Trustees are also satisfied with the performance of the investments. During the year Covid-19 created a degree of turbulence in financial markets. The Trust's investment portfolio was to a certain degree insulated by its relatively conservative positioning and by the year end showed a small increase in value on the previous year.
## **FINANCIAL REVIEW**
## **Reserves policy**
The value of investments at the year end are £680,297 and the reserves at the year end, excluding the value of land and leases, amounted to £811,990. The Trustees made these investments to generate funds to enable the charity to provide ongoing support to the hospital as well as to cover more significant capital expenditure.
## Recurring contributions include
(a) payments towards Sanctuary's costs to ensure that access to the hospital is available to local people and (b) funds for the maintenance of grounds not leased to Sanctuary or the Chiltern Surgery as well as towards essential maintenance and voluntary support in certain areas
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is governed by its Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Page 1
Watlington Hospital Charitable Trust
## Report of the Trustees
for the Year Ended 31 December 2020
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees**
There have been 6 trustees throughout the year. Any new appointments are at the recommendation of the board.
## **Induction and training of new trustees**
New and existing trustees are given sufficient training and have enough knowledge to understand the nature of the charity and fully comply with the charities current view of its aims.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
04117752 (England and Wales)
## **Registered Charity number**
1083847
## **Registered office**
The Office Homelands Upperton Watlington Oxfordshire OX49 5PB
## **Trustees**
Hon A Barrowcliff Housewife P S L Bassett Chartered Accountant Mrs I Birch-Reynardson Retired Sir C H Paine Medical Retired Mrs E Crossman Retired N George Investment Company Director
## **Company Secretary**
P S L Bassett
## **Independent Examiner**
Debbie Winfield FCCA Debbie Winfield Accountancy Ltd The Office Homelands Upperton Watlington Oxfordshire OX49 5PB
Approved by order of the board of trustees on 4 May 2021 and signed on its behalf by:
Page 2
Watlington Hospital Charitable Trust
Report of the Trustees for the Year Ended 31 December 2020
Mrs I Birch-Reynardson - Trustee
Page 3
## Independent Examiner's Report to the Trustees of Watlington Hospital Charitable Trust
## **Independent examiner's report to the trustees of Watlington Hospital Charitable Trust ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
## **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.
Debbie Winfield FCCA Debbie Winfield Accountancy Ltd The Office Homelands Upperton Watlington Oxfordshire OX49 5PB
4 May 2021
Page 4
Watlington Hospital Charitable Trust
## Statement of Financial Activities for the Year Ended 31 December 2020
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
8,650
Other trading activities
2
1,829
Investment income
3
25,930
**Total**
36,409
**EXPENDITURE ON**
**Charitable activities**
Property activities
8,214
Net gains on investments
16,088
**NET INCOME**
44,283
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
2,267,707
**TOTAL FUNDS CARRIED FORWARD**
2,311,990|Restricted
fund
£
-
-
-
-
-
-
-
-
-|31.12.20
Total
funds
£
8,650
1,829
25,930
36,409
8,214
16,088
44,283
2,267,707
2,311,990|31.12.19
Total
funds
£
1,735
13,495
27,964|
|---|---|---|---|
||||43,194
16,076
54,229|
||||81,347
2,186,360|
||||2,267,707|
The notes form part of these financial statements
Page 5
Watlington Hospital Charitable Trust
## Balance Sheet 31 December 2020
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
**Investments**
Investments
5
680,297
Investment property
6
1,500,000
2,180,297
**CURRENT ASSETS**
Debtors
7
2,323
Cash at bank
259,245
261,568
**CREDITORS**
Amounts falling due within one year
8
(3,292)
**NET CURRENT ASSETS**
258,276
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
2,438,573
**CREDITORS**
Amounts falling due after more than one
year
9
(126,583)
**NET ASSETS**
2,311,990
**FUNDS**
10
Unrestricted funds
**TOTAL FUNDS**|Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-|31.12.20
Total
funds
£
680,297
1,500,000
2,180,297
2,323
259,245
261,568
(3,292)
258,276
2,438,573
(126,583)
2,311,990
2,311,990
2,311,990|31.12.19
Total
funds
£
664,209
1,500,000
2,164,209
2,032
231,422
233,454
(2,173)
231,281
2,395,490
(127,783)
2,267,707
2,267,707
2,267,707|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
Page 6
continued...
Watlington Hospital Charitable Trust
## Balance Sheet - continued 31 December 2020
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 4 May 2021 and were signed on its behalf by:
I Birch-Reynardson - Trustee
P S L Bassett - Trustee
The notes form part of these financial statements
Page 7
Watlington Hospital Charitable Trust
Notes to the Financial Statements for the Year Ended 31 December 2020
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 8
Watlington Hospital Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
## **2. OTHER TRADING ACTIVITIES**
|**2.**|**OTHER TRADING ACTIVITIES**|||
|---|---|---|---|
|||31.12.20|31.12.19|
|||£|£|
||Fundraising events|1,829|13,495|
|**3.**|**INVESTMENT INCOME**|||
|||31.12.20|31.12.19|
|||£|£|
||Lease premium|1,200|1,200|
||Interest on investments|24,730|26,764|
|||25,930|27,964|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
## **5. FIXED ASSET INVESTMENTS**
|**FIXED ASSET INVESTMENTS**||
|---|---|
||Unlisted|
||investments|
||£|
|**MARKET VALUE**||
|At 1 January 2020|664,209|
|Additions|16,088|
|At 31 December 2020|680,297|
|**NET BOOK VALUE**||
|At 31 December 2020|680,297|
|At 31 December 2019|664,209|
There were no investment assets outside the UK.
continued...
Page 9
Watlington Hospital Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
## **6. INVESTMENT PROPERTY**
|**INVESTMENT PROPERTY**||
|---|---|
|**FAIR VALUE**
At 1 January 2020
and 31 December 2020
**NET BOOK VALUE**
At 31 December 2020
At 31 December 2019|£
1,500,000|
||1,500,000|
||1,500,000|
The investment land held by the charity has not been revalued. The Trustees have been advised by professional valuers that valuing the land separately from the property that now occupies the land is extremely difficult and expensive. Following the advice of the professional valuers, the Trustees have therefore decided to continue to reflect the land value at cost for the foreseeable future.
On 28 October 2002 the Charity granted a 125 year lease to Sanctuary Housing Association and Brackley Investments Limited. Both leases are subject to a peppercorn rent.
## **7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**7.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|---|
|||31.12.20|31.12.19|
|||£|£|
||Prepayments and accrued income|2,323|2,032|
|**8.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|||31.12.20|31.12.19|
|||£|£|
||Accruals and deferred income|3,292|2,173|
continued...
Page 10
Watlington Hospital Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
## **9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
|Accruals and deferred income
**10.**
**MOVEMENT IN FUNDS**
At 1.1.20
£
**Unrestricted funds**
General fund
2,267,707
**TOTAL FUNDS**
2,267,707
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
36,409
(8,214)
**TOTAL FUNDS**
36,409
(8,214)
**Comparatives for movement in funds**
At 1.1.19
£
**Unrestricted funds**
General fund
2,186,360
**TOTAL FUNDS**
2,186,360||31.12.20
£
126,583
Net
movement
in funds
£
44,283
44,283
Gains and
losses
£
16,088
16,088
Net
movement
in funds
£
81,347
81,347|31.12.19
£
127,783
At
31.12.20
£
2,311,990
2,311,990
Movement
in funds
£
44,283
44,283
At
31.12.19
£
2,267,707
2,267,707|
|---|---|---|---|
|||||
|||||
|||||
continued...
Page 11
Watlington Hospital Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
## **10. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|Incoming
Resources
Gains and
resources
expended
losses
£
£
£
**Unrestricted funds**
General fund
43,194
(16,076)
54,229
**TOTAL FUNDS**
43,194
(16,076)
54,229
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.1.19
in funds
£
£
**Unrestricted funds**
General fund
2,186,360
125,630
**TOTAL FUNDS**
2,186,360
125,630|Movement
in funds
£
81,347
81,347
At
31.12.20
£
2,311,990
2,311,990|
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|79,603|(24,290)|70,317|125,630|
|**TOTAL FUNDS**|79,603|(24,290)|70,317|125,630|
continued...
Page 12
Watlington Hospital Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2020.
Page 13
Watlington Hospital Charitable Trust
|Detailed Statement of Financial Activities|||
|---|---|---|
|for the Year Ended 31 December 2020|||
||31.12.20|31.12.19|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|8,650|1,735|
|**Other trading activities**|||
|Fundraising events|1,829|13,495|
|**Investment income**|||
|Lease premium|1,200|1,200|
|Interest on investments|24,730|26,764|
||25,930|27,964|
|**Total incoming resources**|36,409|43,194|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Insurance|2,989|2,528|
|Landscaping|1,254|1,898|
|Residents welfare|2,918|10,595|
|Bank charges|83|82|
||7,244|15,103|
|**Support costs**|||
|**Governance costs**|||
|Accountancy and legal fees|970|973|
|Total resources expended|8,214|16,076|
|**Net income before gains and losses**|28,195|27,118|
|**Realised recognised gains and losses**|||
|Unrealised investment gains|16,088|54,229|
|**Net income**|44,283|81,347|
This page does not form part of the statutory financial statements
Page 14