Registered Charity No 1123540 Company No 6533385 A Limited Company Registered in England and Wales The Hospital of God at Greatham Trustees, Annual Report and Accounts for the year ended 31 October 2023
Contents Introduction o Message from the chair o Message from the director Organisatlonal details Page Trustees. Annual Report Ilncluding the Strategic Report) About the charity Our charitable objectives Our vision, mission, and values What we do o Our impact What we dellvered and achleved durin8 the year Making a difference Our plans for the future Financlal review of the year Summary Results from charitable actlvlties Results from Investment activities Flnancial posltion o Structure, governance and management Formation, le8al structure and oblectives Governin8 body and governance Statement of publlc benefit Risk management and princlpal risks Statement of trustees, responsibilitie5 Statement of disclosure to auditors li 21 24 24 25 26 27 27 29 29 30 30 Independent Auditorf5 Report 32 Financial Statements Statement of financial activities Statement of financial position o Statement ofcash flows Notes to the financial statements 36 37 38 39
Introduction Message from the Chair- Margaret Bousfield Welcome to our report forthe year November 2022 to October 2023. 2023 was a special year for The Hospital of God, a year in which we celebrated our 750, Anniversary. The Charity marked this amazing milestone with a year of events organised by different parts of the organisation. As part of the celebrations, an excellent book charting the charity's history was written by trustee Philippa Sinclair. This is still available by contactin8 the Estate Office. The main concern for the Trustees during the year was how to best take the Charity forward. whilst contlnuinB to deliver it5 aims and objectlves. The object5 Set out In the Memorandum of A550ciation were reviewed to recognise the increasing prevalence of dementla In Society. The review will be included In the Articles of Association. The Trustees and staff reviewed and updated the Charlty's Vislon and Mlsslon statements. These statements maintain our commitment to ensuring person-centred care and ensure our core values of the charity are fully understood and embedded. The Charity has had to meet the challenges of the rising costs of delivering our seNices. Increased staffing and fuel costs together with hS8h inflation rates and the legacy of Covld have had a significant impact on the budget. This has resulted in a review of levels of revenue gained from property and land, the costings of our service5 and our pricing policies, with a view to achievin8 maxlmum efficiency and cost recovery. We are continuing to expand our use of technologies in order to improve many aspect5 of our adminlstrative proce55e5. There 15 Still further work to be done in thi5 area in order to maximi5e efflciency. Increased information from internal monitoring is greatly assisting Trustees in gainin8 a continuous overNiew of the organisation and assisting them in meeting their governance responslbilities. Looklng forward, in response to changing circumstances the Trustees have been giving thoughi to maximi5e the benefit5 of its land and property portfolio to best support the charity now and in the future. Consultant5 have been engaged to advise on thi5, together with the future use of the Gretton Court site. A rebranding exercise has been commissioned and we look forward to receiving their suggestions. On behalf of the Trustees, I would like to thank the staff throughout the whole organisation for their hard work and commitment to the charity, I would also like to thank Lois Neal, Chair of Trustee5 during 2022 to 2023 for her work for the Charity. Finally, I would like to pay tribute to Mr Chris Dickinson who sadly passed away following a short illness. Chris was a previous Trustee and Chair of the Charity, in particular through the Covid-19 pandemic. Chris helped guide and sUPPOrt the Charity through these incredibly difficult times,
bringing his experience. rational thought and calmness. His contribution to the Charity, invaluable. Sadly, missed by all of us. Mar8aret Bousfleld Chair of Trustees 4 July 2024
Message from the director- Lawrence McAnellv I can only start by thankin8 the staff. volunteers and Trustees of the Charity for their continued time, passion, skills knowledge and understanding. They are the life blood of our Charity. It feels like we have come through recent difficult times, adapting and changing. Every person, every team is important to enable the charlty to thrive and to continue to make a difference to people's lives. In thls year we lebrated the Charity's 750, year. It IS Qulte amazing and humbllng to be associated with such a historic charity. It is this history and foresight of our founder, that enables us to look to the future and continue to develop the Charity. The charity's str8te8y movin8 forward is to modernise, increase our efficiency whilst continuing to deliver truly effective care and support, to be an employer of cho5ce, deliver profe551onal propertv services, run an impattful grants programme, have good leadership and governance and all under the umbrella of stron8 financial management. Why? The world we operate in has changed and wlll contlnue to change. The financlal pressures on soclal care and public services are not likely to improve in the next few years and priorities are likelv to become driven by statutory requirements. We have made some chan8es already, come through storms recently and we cannot and will not Stand still, or be complacent. It is time to modernise further, to focus on our priorities, to deliver our strate8y. The charity faces and continues to face financial pressures, wlth volatlle markets impacting on our investmerst5, a pricing structure which has not kept up wlth the times, Increasing costs whlch are not always fully reflected in the fees we receive for the dellvery of contracts or to enable people to live In our homes. The Charity is taklng bold steps to bring its vision to life, to make a difference, to have an impact on people's lives. Including the development of 21" Century almshouses at The Heathers site, seekin8 to generate Income from the Greatham wetlands project, developlng our system5 and processes to be as efflclent as possible and gradually further embracing the use of technology. We need to contSnue to modernSse and make our processes smart, effective, and efficient. The charity has updated its investment policies to reflect the latest guidance, developing Its knowledge and understanding of the use of our permanent endowment, our physical a55et5, and liabilities. The aim and plan 15 to PQ5ition the charity, with the right structure, ways of working and leadership to make the best use of all its re50urce5, to meet its objectives and provide a foundation for continued organisational growth and development. Looking forward to meetillg the challenges ahead. Lawrence McAnelly Olrectgr 4 July 2024
Organisational details The Hospital of God at Greatham is a re8lStered charity Iregistration number 11235401 and a company limited by guarantee (registration number 6533385, England and Wales). The registered office is The Estate Office, Greatham Hall, Greatham, Hartlepool, TS25 2HS. The trustees of The Hospltal of God at Greatham are directors for the purposes of company law and trustees for the purposes of charity law Ihereinafter referred to as "the trustees"). The trustees who setved during the year and up to the date this report was approved118 July 20231 are: Co-opted.. Lois Neal (Chairl resigned as Trustee 10 November 20231 Margaret Bousfield Ivice-chair and Chair from 10 November 20231 Robert Eden (Vice chair from 19 March 20241 Kai Sander Patrlcla Hancock Nicola Local lappointed 20 November 20231 Ni8el Fenny (appointed 21 Oecember 20231 Exrfl¢lo: The Venerable Richard Simpson The Venerable Rachel Wood Philippa Sinclalr (nominee of the Bishop of Durham) The charity director (chief executive and company secretary) is Lawrence McAnelly. The names and addresses of the princlpal professional advisers are.. Auditors.. William Fortune & Son, Chartered Accountants, Collingwood House, Hartlepool, TS24 7EN Banker.. 8arclays Bank PLC, Stockton Business Centre, The Tee5 Group North, PO Box 7, Stockton on Tees, TS18 IAH Investment Manager.. IP Morgan Private Weolth Management Ltd, PO Box 68214,1 Knlghtsbridge, London SWIP 9UH 50licitors.' Archers Law LLP, Lakeside House, Kingfisher Way, Stockton on Tees, TS18 3N8 Solicitors: Ward Hadaway, Sandgate House, 102 Quayside, Newcastle upon Tyne, NEI 3DX Pension Scheme Adviser-. Barnett Waddingham, Pinnacle, 67 Albion Street, Leeds, LSI SAA
Tru5tees' Annual Report (including the strategic report) About the charity Our charitable objectives l. the provision of housing accommodation and extra-care accommodatlon for beneficiaries. the provision of grants not exceeding £5000 in any one year for such parochial and charitable purpose5 Wlthin the parish of Greatham as the trustees think fit. 3. the relief of persons who are in conditions of need, hardship, or distress, including but not limited to sufferers of Alzheimer's disease and related disorders. the charlty may relieve per50ns in need by.. lil making grants of money to them or for thelr benefit. lill providing or paying for goods, servlces or facillties for them,. or liiil makin8 grants of money to other persons or bodles who provlde goods, services or facilities to those in need. 4. the appropriation of bungalows, alms houses and other property belongin8 to the charity for the use of residents and brethren of the charity. 5. the maintenance of the chapel which is devoted to the performance of divine service for the benefit of the brethren and residents of the charity. Our vlsion, mission and values 8ulldlng on our century's long hlstory, our ambltlon Is to be a force for good, uslng our resources, skills, knowledge and abilities to have a significant impact in communitie5. We aim to be a leading charity that is modern, forward thinking, robust, SUStainable and resilient. A charity that is respected and valued by communities, people, partners and peers. Our vi51on is for older people and those affected by dementia to live well within supportive communities. Our mission is to support and empower older people and those affected by dementia, to live well throu8h the provision of care and community-based services, homes and grants by puttin8 them at the centre of everything we do. Value5 To be kind, caring and compassionate. To put people at the heart. To be professional, learn and empower To be open, transparent and honest. Our Prlorltles (2022-2027) l. Strong financial management 2. Outstanding services 3. Professional property Services 4. Employer of choice
- Good leadership and governance Impactful grants What we do We aim to provide Bood quality residential care, support, information and houslng servlces for people, particularly older people and those living with a dementia. We operate in Hartlepool, Stockton, and East Durham. Through our grants programme we support the voluntary and communlty sector and those not-for- profit organisations which make a difference to the lives of people in our communities. The main charitable actlvltles of the charlty are.. Residential care for Older people at Stichell House, in the villa8e of Greatham, near Hartlepool Day care and community support seThices for people living with dementia, and thelr families, dellvered through our day centres, our community-based pastimes service and our famlly support seThices throughout Hartlepool and East Durham Support, information and advice through our regular activities, cafés and our dementia advisory service 'The Bridge, based in Hartlepool Supported living for older people in our Almshouses located in Greatham, Norton, Stockton and the wider North-Ea5t area The making of grants to other charltable organisatlons In the North-East. We complement our charitable activities to provide an income by providlng for rent or lease, houslng, farm and farmland and some commercial property in the village of Greatham, Hartlepool. Our impact What we achieved and delivered In the year Celebratlng our 750 Year We celebrated the Charity's 750, anniversary with events throughout the year. The celebrations started in January 2023 with our Founders Day service, held in our chapel with the address 8lven by The Right Reverend Mark Wroe, Bishop of Berwick and Acting Bishop of Newcastle. The seNice was also attended by dignitaries including the Vice Lord-Lieutenant of County Durham Mike Poole, the Ceremonial Mayor of Hartlepool Cllr Brian Cowie, and Hospital of God staff, past and present trustees and people who the charity work in partnership with. A further celebratSon service was held on 4 May 2023 in the chapel, with members of staff and people who use our services. Each area of the charity was 8iven a bud8et to plan their own celebration events, and these Included: May 2023 - HoGFes1 at Stichell House. A drop-in party celebrating our anniversary and the Kings Coronation. The entertainment included a choir made up of staff and people who use our seryices. June 2023- Minerva House staff hosted a Hawaiian theme celebration event, including entertainment and food at Easington Colliery Social Club for the people who attend the day centre. The event enabled people to do a lot of reminiscing and it even inspired one guest to pick up his gultar and do a performance for everyone.
June 2023 - The Almshouse Team hosting a garden party, sharing stories of the history of Almshouses and The Hospital of God whilst celebrating our Almshouse Cgmmunities being together from across Stockton and Greatham. June 2023 - Joining forces with the Greatham Feast Committee, the charity sponsored the annual colouring competition for Greatham The theme was focused on our charity's 750th anniversary, were we asked pupils from Greatham Primary School to draw pictures that represented our charity. July 2023- Staff from Hartlepool Day Centre recreated the magic of The Rink, a local dancehall, for people who use the day centre. There was lots of reminiscin8, music, entertainment, food and laughter. One family member who attended said ' Just seeing our mam enjoylng herself singing and dancing to Bobbles Girl brought tears to all our eyes to see how happy she was at the centre. It means a lot to us that you take so much care of our mam" July 2023- pupils from Greatham Church of England Primary School came to Stichell House to perfomi thelr end of year perfomiance to residents. August 2023- The team at Community Pastimes hosted an 'all the fun of the fair, celebration garden party, entertainment and a variety of 8ames, includlng lucky duck and tin can knock down. Guests were also treated to fun falr food includln8 hotdoBs, chips, popcorn and donuts. It was a great opportunity for everyone to come tO8ether, reminisce, laugh and dance the afternoon away whilst celebratln8 the charity's long history. September 2023- a summer garden party was held for staff, people who use our services, Trustees and local dignitaries. A marque was errected in the estate 8rounds and 120 people attended, with Ilve music from a jazz swing band. The following night, a staff party wa5 held in the marquee to thank staff for their hard work and commltment over the years. The Trustees donated a tree that was planted in our grounds to remember our 7501h Annlversary. December 2023- The Brldge hosted a Christmas event at The Avenue for the people who use The Bridge. Phllippa Sinclair ITrusteel also helped mark the 750, annlversary by writin8 a book about our history. 'Greatham Hospltal: a brfef of the charlty as It celebrates 750 years of offerlng Care, is available to purchase from the Estate Office and all proceeds from the sale of the book go to the charity. To further celebrate and showcase the charity's long and proud hlstory, together with County Durham Community Foundation, we were the joint associate spor)50r of the North East Charity Award 2023. The awards were held on 19 July 2023 in Gateshead. The awards were an Inspiring celebration of the incredible work that people in the North East communities do to 5UPPOrt and empower others. It was good to know that the passlon we have for our work, the difference we make Is shared by others across our area. In February 2023, approximately 4C¥) people attended the annual Snowdrop Walk hosted by Greatham in Bloom la voluntary community group in Greatham Village) and held on the charity's grounds. Thanks to the kindness of everyone Involved, the event raised over £2,(n) for the group with visitors from all over the North East, some travelling from as far as Northumberland to enjoy the snowdrops "A beautiful straw lined path was created through the wood5 Wlth information boards and seatin8 areas by the Hospital of God gardeners"
Within this year, we also continued to support the local community by contributing to prizes and awards for the annual Gretham Feast event and we also continued to support our local primary School with gifts of recognition for their leavers as they transition to secondary school. Developing our strategy Building on the previou5 year's work we further developed our strategy furthering our Six busine55 objectives. Strong Flnanclal Management The charity reviewed its fees across all our services, identifyinB real costs and aimed our price5 to reflect thls. The aim is to ensure the sustalnability of ongoing Services a8ainst a backdrop of risin8 Costs. Worked to improve administrative and financlal procedures which ones, a more effective debt prevention and recovery, more efflcient mechanisms for payment of charges. We SOU8ht to restructure the finance team to build capacity and expert15e. Contlnued to develop People Planner to manage rotas at Stichell House and link them to payroll. Updated our Investment policies to reflect updated guidance and to ensure that we use our investments, including land and property, for the benefit of present and future beneficiaries. We started to explore the potential of utilising some of our land assets to provide an Income through the potential sale of bio-diverslty credits in response to changing legislation for developers. Outstandlng servS¢e$ Our residential servlces continued to achieve a Level I status from Hartlepool Local Authority and a 'good' rating from the Care Qvallty Commisslon. htt Iwww.c c.or locatlon 143411578?referer-wid et3 Developed our applicatlon of Care Planner, digitislng care plans, saving staff admlnlstrative and time to be able to spend more time caring for people at Stichell House residential home Received feedback from clients and their families of our day service5 in Hartlepool and East Durham for people living wilh dementia through our annual survey. Achleved quality standard from Ourham County Council for our day service provision at Mlnerva House Hordern, East Durham. Invested In our transport provision to enable people living with Dementia to access our services. Continued support for family carers in our day Centres and thfOU8h The Bridge Dementia Advisory Service, Hartlepool Developed our performance management framework through the identification and monitoring of Key Performance Indicators, providlng Important data to assess our performance and adapt where nece55ary. Piofesslonal Property Servlce5 Continued to work with partner5 to ensure we are best P051tioned to develop the Greatham Wetlands Project and achieve a satisfactory return for the charity, both financially and environmentally. -ContinLsing work with the Environment Agency to get to planning stage in 2024. io
Reviewed property seNice, commissioned extensive property suNey to develop a long-term planned maintenance program. Commissioned work to develop our Land and Property Strategy work and commi55ioned partners to enable the development of The Heathers, on the Gretton Court nursing home Slte, including the potential of creatlng 21" Century Almshouses, a dementia centre of excellence for the Hartlepool area. Employer of Cholce Build on work to develop the recruitment and retention of staff to be the employer of cholce in our area, significantly reducing the use of agency staff in our residential home, Stichell House. Developing and implementing our values-based recruitment and induction proBramme. Implemented the employee of the month scheme, recogni5ing and rewarding excellent contributions from our staff team. Reviewed pay) terms and conditions providing competitive remuneration withln appropriate payment scales. Developed our organisatlon structure for senlor staff posltlons to build capacity. Establish a Remuneration Committee of the Board for oversight of senior staff pay. Good governance and leadersh5p Reviewed our governance arrangements, Including sub-committee terms of reference, Scheme of delegation, structure and timin85 of meetings and board effectiveness. Identified gaps to inform the recruitment of new Trustee members with the skills, knowled8e, experience and values to complement and add to the Board of Trustees. Held Board led strategy days to plan the development of the Charity. lrnpactful Grants programme Refined our grants offer and process to make applyln8 for a grant accessible and a posltlve experience for north east based charities, community organisations and social enterprlses positive Awarded £IC4J,OiJ) of grant5 to 69 organi5ations Maklng a dlfference - Our servlces and support he Bridge" Dementia Advisory Service (Hartlepool) The Bridge Dementia Advisory Service offer5 advice and 5UPPQrt to those living with dementia and their familles. As well as providing much needed emotional support, the advisors signpost to other services and provide training and resources to help carers learn more about dementia. The Bridge has a mailing list which goes out every 6 weeks to ensure all client5 are kept informed of any events or activities hosted by The Bridge or other services. For this reporting period, The Bridge supported an average of.. 67 people with dementia each month 285 family carers receiving advice and 5UPPOrt each month 287 individuals monthly receiving indirect support li
464 events and interactions held each month Last year. the team at The 8ridge moved into their new home at Greenbonk in central Hartlepool. The Bridge has continued to See an increase in referra15, Includin8 from the Community Mental Health Team in Hartlepool as we continue to receive referrals straight from the consultants followin8 a diagnosis. With great voluntary sector relationships which The Bridge has developed this keeps the service at the forefront in the community and working alongside other organisations such a5 CLIP and Dementia Friendly Hartlepool to ensure Hartlepool is an acce551ble and friendly place for people living with a dementia. "Everybody was fontastlc. My husband and myself made some greatAriends over the years" "I really oppreclated the frlendly volce In your calls, especlally at the beglnnlng of my husband's dementia diagnosis" "I hlghly recommend The Brldge and I can't thank you enough for your continued support" Hartlepool and Mlnerva House Day Centres - for people Ilvlng wlth a dementla and famlly member carers Our Hartlepool Oay Centre at Heather Grove and Minerva House Day Centre in Hordern, East Durham provide therapeutic care and support for people living with dementia. The team works to deliver a range of activities and sessions which support people living with dementia, that are stimulatin8, interesting and fun. They are creative usin8 a range of technlques and laughter can often be the sound that resonates through our centres. Across the two services, they delivered an average of 5.024 sesslons with people living with dementia. We have seen a slow increase In the overall numbers accesslng our day centre provision, which has been impacted by people accessing the seNices later in their dementia, a reduction in the number of people getting a dementia diagnosis durin8 the pandemic and changing Social behaviours. There 15 a general feelin8 that dementia as an issue is receiving less exposure as demonstrated by dated dementia strategies. Through our whole family approach, we also support family carers through our Family Support Worker, who provides face to face and telephone support, access to infomiation and guidance and practical 5UPPOrt, e.g., with attending appointments, financlal and benefit information and someone who can offer a listening ear. Hartlepool Day Centre- The Heathers 12
Receiving a diagnosls of dementia does not mean life tannot be enjoyed. Our day tentre at Hartlepool is the perfect place to socialise, explore new hobbies and receive the best PaS5ible support. The day centre provides friendship, Support, stimulation a5 well a5 respite for carers. We provide a safe, warm and welcoming environment. Examples of actSvltles and services, include arts & crafts, baking, cooking, bingo and games, singing and dancing, gardening and woodwork and reminiscing activitie5. We provide accessible minibus transport to and from our guest's homes, along with nutritiOUS two course lunch with refreshments and snacks throughout the day. For this reponing period, The Heathers Day Centre delivered an average of 2,467 se551ons, 5UPPOrting an average of 8 people per session and an average of 44 individual people supported each month. We undertook a survey In summer 2023, and the results were posltive. 87% responded that they felt their loved one had had an opportunlty to develop new friendships when at The Heathers 100% said attending The Heathers had helpe(I malntaln thelr loved one5 physlcal and mental wellbeing 94% sat15fartlon rate 81% felt there wa5 an improvement in their loved one's wellbein8 slnce they started attendlng The Heathers 94% saw an improvement in their own wellbein8 "Dad Is a lot happler In himself after hls vlsltS to the Day Centre" "All staff are frlendlyi and we feel very confldent that they treat Mam with respect and are lovely wlth he '1'm happy wlth the care my stepfather Is 8ettin8p he looks forward to Saturday to go to the day centre gettin8 Out meetlng people" "I feel listened to, and you understood what I was 8oin8 throu8h. It was 8ood to feel I wasn't alone In all of thls" Mlnerva House- East Durham Day Centro If you have a diagnosi5 of dementia or memory problems, MineNa House is a safe, warm, and welcoming day centre where you can meet new people and enjoy a wide range of activities. We prlde ourselves on being a modern and inclusive centre that is genuinely per50n-centred and at odds with the traditional 'day centre, model. For thi5 reporting period, Minerva House delivered an average of 2,557 sessions, supportin8 an average of 10 people per session and an overage of 36 individual people supported each month. We undertook a survey In summer 2023. and the results were posltive. 13
100% responded that they felt their loved one had had an opportunlty to develop new friendships when at Minerva House 93% said attending Minerva House had helped maintain their loved ones physical and mental wellbeing 100% 5atisfartion rate 79% felt there was an improvement in their loved one's wellbeing since they started attending Minerva House 93% saw an improvement In thelr own wellbeing 'It has been fantastic In terms of reduclng my mother's social isolation. a real boost and she always looks forward to attendin "Staff are frlendly and down to earth. They are always 8enulnely Interested in me and dad. All Interactlons wlth dad from the staff are very patlent and relaxed and nothln8 Is too much trouble. l am contacted regularly regardlng my own needs as a carer" "Mam puts her coat on every mornlng of the week as she hopes she Is 8oln8 to Minerva House to meet her friends" "My mother was bored. lonely and Isolated In her home. She feels part of the communlty when she goes to Mlnerva House" Communlty Pastlmes Support In the communlty for people Ilving wlth dementla Community Pastlmes supports small groups of people across Hartlepool and East Durham, who mav have a memory problem or dia8nosis of dementia, with the same interests and hobbies to access the wider communlty. Our number one priority is making sure people are Ilvlng Ilfe well and enjoying themselves to the full. Within this reporting period, the Community Pastimes service delivered 2,402 se5slons, supporting an average of 10 people per session and an average of 35 Indivldual people each month. We undertook a survey in summer 2023, and the results were positive. 94% responded that they felt their loved one had ha(i an opportunlty to develop new friendships when at Community Pastimes 94% said attending Community Pastimes had helped maintain their loved ones physical and mental wellbeing 94% satisfartlon rate 75% felt there wa5 an improvement in their loved one's wellbeing since they started attending Community Pastimes 75% saw an improvement in their own wellbeing 14
"Contact with people outslde the home has improved dad's communicatlon and mental wellbeing" "Staff are all very loving and carlng and my mum and I feel safe and not stressed about her when she Is using your servlces" 'Mam Is really enjoyin8 singing again" "Contact with people who understand dementia process and difficulties carers face- It Is also a place to alr these problems as they arlse maklng them less of a challenge" Stichell House Residential Home Set in the landscaped grounds of the beautlful Greatham Estate, Stlchell House Is a modern residential home in an enviable locatlon. We offer 35 en5Uite bedrooms, in a purpose built, modern facillty with outstandin8 levels of person-centred care, Our phllosophy of care Is based on putting the people we care for at the heart of everything we do. We belleve that real care cannot be delivered untll we completely understand you, the person being cared for. We focus on your history and strengths, your hopes, and ambitions. We respect your past, support your present, and help you plan for your future. Our approach is to ensure that your preferences, needs and values guide our decisions, and we will provide care to you that is respectful and responsive. Withln this reporting period, Stichell House delivered an average of 51,499 Care hours 96.3% occupancy Recruitmenr and retention of staff remained a challenge this year. The slgnSficant staffing cr1515 in social care is widely reported nationally. We employed an average of 60.3 people at Stichell House within this reporting period, which represents 54% of the charity's workforce. The charity has worked hard to improve the retention of staff and for the period January- October 2023, the retention rate of staff at Stichell House was 77.78%. Thisls a 15.8% Increase on the retentlon rate at Stichell House in the previous year. Within the reporting period, occupancy at Stichell House continued to improve from 91.2% in January 2023 to a peak of 99.5% in April 2023. 15
Where necessary in order to provide'safe levels of care during peak staff shortages and sickness absence, the charity needed to use agenry staff. We are pleased to report that during the period January- October 2023, the use of agency staff was 7.6% and this fell below the target of no more than IO% agency staff across the year. In January 2023, agency staffin8 was at a peak of 33.8% after which we saw a reduction to 0% for five months of the year. This is due to the hard work and commitment of our staff who worked tirele551y to cover additional shifts. In addition, the charity had a real focus on recruitment, trainln8 and induction. For the first time, the charity sponsored three employees with Health and Care Worker visas. StL4lf v Age iicy ?fl 'wi'.rity Each resident has an individual care plan, to enable staff to meet thelr needs and requirements. We continue to develop our use of Care Plannin8 providing a paperless care planning system. We have also continued the development of our Governance, Audit and Improvement IGAII Policy and practice, working to maintain a live and ongoin8 action plan. We have continued Identlfyin8 and collatin8 near miss data to continually inform our practice, and to reduce the risk of accldent5. Stichell House had an unannounced Inspection by the Care Quallty Commisslon withln this reporting period and we were pleased to receive an overall rating of 'Good' The inspection report noted that people felt very safe living at Stichell House and with the support they received from staff. People and relatives spoke very hlghly of the staff and described them as "very kind, 'excellent and "caring., Comments included, The carers are so patient with everybody, have a good sense of humour and keep the place happy all the time" and, 'It is very well or8anised, very clean, welcoming and homely. The report further noted that people were supported to have maximum choice and control of thelr lives, and stsff supported them in the least restrictive way possible. "A heartfelt thanks for all the love and care. You are not just a care home. vou are a family home" "The carers are at your beck and call every minute. All the staff are absolutely wonderful. If you need anything dolng. they wlll do It for you straightaway" 16
Almshouses - supporting older people to live independently The charity owns and manage5 123 Almshouses, providing accommodation, with the support of an Almshouse Lead and Almshouse Support Workers. The properties in Stockton-on-Tees, Norton and Hartlepool all benefit from a call system 24 hour5 a day providing residents with the responsive help needed. The combination of accommodation, a sense of community and belonging, suitably adapted properties, warden support and 24-hour access to the one call system means that our residents can continue to live independently in the community. Within this reporting period, the Almshouse team supported on average.. 124.2 residents each month 95.14% OCCLJpancy 16 staff-led social inclusion sesslons each month 1,395 attendances at staff-led Social inclusion sessions Chaplalncy Servlce Chaplaincy aims: To develop the Hospital of God'5 splritual, reli8lOU5 and pastoral care of residents, their families, almshouse residents, and the charitws staff. To enable more services to take place in our chapel. Overvlew.. It has been another successful year puttlng In place a programme of regular activlties that sees me involved with a broad range of the charity'5 Services. There are so many opportunities to engage with.. cllents, residents and staff, and everyone remains very welcoming and supportive of the chaplalncy role within the organisation.. Prayer and Care, Pastoral Vlslts and Support Stlchell House.. I run a weekly Prayer and Care group in Stichell House which is an ecumenical servlce of the word for residents from a ChristSan background, and many who may not have a faith but enjov attending. We use the set prayers for the week,. I compile a weekly order of service which follows a set format: prayers of welcome, the Lord's Prayer, an Old Testament readin8, Psalms, the Gospel reading for the week and a reflection. l also add In some colourful art that ties In with the readings and we sometimes talk about what the images look like or could mean to us. Some contemporary art has proved less popular wSth some of our residentsl We also choose hymn5 that speak to the readings and these5 are played via our TV in the lounge. It Is nice blending the formal aspects of prayers and hymns as many residents are familiar with the recitation and singing, but equallv importanl is the time spent chatting informally afterward5 Wlth our re5ident5 and Betting to know them better. The ses5ion5 are popular, with regular attendees of 12-18 residents, and family members often attend too. We also have 2 local people IBobbi and Pauline) who joln us during our Prayer and Care servlces as part of a *church-led befriendin8 scheme. It ha5 been great having them along at our servlces as it is difficult to spend time with every resident before the evening meal Is served, so this really helps. Our Activities Coordinator (Tracy) plays a crucial role in arranging the sessions. We are approachin8 our IOOth Prayer and Care group this summer. Pastoral Visits to Almshouse Residents.- I vi51t our Brother House on a weekty basis and spend time chattin8 Wlth a real cross section of our resident5. Their mutual support for one another and ea8erness to spend time together 15 a joy to see. It has been my pleasure getting to know folk and 17
being there for them if they are undergoing any worrying hospital procedures or are just generally needing someone to talk to. l a150 carry out regtjlar pastoral visits to Trinity Gardens and Emma Simpson Court (again our staff team have helped broker introductions and promote what the chaplaincy role can bring to the lives of our re5identsl. staff Support.. I have spent time with several staff members over the last year helplng support them through some issues or challenges. It Is good to develop thi5 aspect of chaplaincy for the charity as the modern world of work, and general pace of life these day5, can take its toll on all of us at times. CommunSty Outreach and Christian Connections Outreach work with local faith communities: To ensure that we can have approprSate connections with local churches and other falth groups I have worked with collea8ues from several Christian traditions: Catholic, Anglican and Baptist churches, and have also met wlth a local Islamic group loo. We have our local Greatham vicar (Philip), and curate (Lou), providing a monthly eucharistic service in our care home and a local catholic deacon a150 occaslonally vislt5 the care home too. We have two RC 'Pastoral Visitors working as part of the St. Vincent De Paul Society (retired people who join us for our prayer and care group and spend time chattln8 Wlth our residents, before, during, and after our service). I have joined Hartlepool Churches Together and have made some useful contacts through their networks too. I have also played bass gultar at several Headland Baptist dementia friendlv services such a5 at Easter and Harvest Festival. It ha5 been nlce to help with this side of worshlp too. Dementia Friendly Hartlepool.. I was invited to join the network and to act as o "falth rep. as part of the group. Although still quite early days this has enabled me to develop some practical connections Ithrough Churches Together Hartlepooll which can tie into Dementia Awareness Week and other Dementla Friendly Worshlp events throughout the year. Llnks with Hartlepool Foodbank.. Followin8 on from an Angllcan Deanery Chapter meeting I Invlted a colleague, who is the chairperson of the foodbank, to make use of our chapel for their thanksgiving event. It was nice to host them and to Support the important work they are doing, but perhaps even more noteworthy was that our administration staff (led by Veronica) once again decided that we should organise a second annual charity-wide collection which we could then present to the foodbank when they were in Greatham for thelr event. This was warmly received, and our generosity as individuals, and as a charity, was acknowledged by Hartlepool Foodbank. Worklng wlth our Cornmunlty Servlees The Brid8e- Staff here have really embraced how chaplaincy support can enhance the seICe5 that we collectively provlde. I now support their regular Carers, Group (for those with family members who may be living with dementia), we run a 6-week block of group support sessions and also host quarterly events in our Estate Office and Chapel here in Greatham too. l also co-facilitate a Bereavement Group with Bridge staff too, and it has been especially poignant to support clients who are dealing with loss and grief. Day Centre Visits: l am also able to spend time visiting client5 5UPPOrted through our services at The Heathers, Community Pastimes, and Minerva House. Seeing the breadth of support and reach into communities that this charity has at its fingertips means that it is easy to work alongside our staff and participate in our Social activitles in an effort to help combat Soneliness and bring practical support and happiness into the lives of others. l attend a half-day session at Minerva House every other month and attend Community Pastime social event5. 18
Events In our Chapel Winter Bereavement seiCe in Greatharn.. Dealing with105s and bereavement 15 never easy, but it is often more acute as we head towards major festive family times, such a5 Christmas. To help ease this burden I have hosted an annual memorial service in our chapel where we share prayers. hymns and offer up an opportunlty for participant5 to sign our book of remembrance too. Christmas Carol Service: We started this last yeèr120231 whereby we invited guests from our community seryices Imainly The Bridge) and Stichell House to join us for Christmas Carols and refreshments aftemards. I booked a tommunity choir to sing for us and this really brought the festive spirit alive. This proved popular, and we have a date booked in December 2024. Christian Church Visits and Retreat Days.. I have hosted event5 Utilising our chapel, outdoor space, and meetlng rooms for a varlety of local churche5'. Headland Baptist Church have used our Spaces twice over the last year. Reverend Dr. Andrew Craig (who is the Chairperson of Hartlepool Foodbankl has also used our space for a celebratSon event and an away-day. Our trustee Robert Eden has also vlsited with members of his church communlty from Darlington for what were very well put together spiritual retreat days Ithese are also open to staff from our charity tool. Founder's Day.. I co-celebrated our annual seNice once again with the support of Reverend Philip Bullock from our nei8hbourlng church. This event brought together staff, trustees, resident5, and clients. This really brought to life what the charity is all about and gave u5 a chance to gather in our chapel and also to spend time together afterwards. Grant Glvln8 and Phllanthropv Grants Committee: After working for over 20 years In the charltable and voluntary sector, it is especially rewardlng to act in an advisory capacity as a lay member of this group. It is great to see the philanthropic ethos and 50clal justice heritage of the charity still at work in a practical way. I was also ble to Vlslt some of our grant recipients in situ too. Grants Recipients Soclal Event: It was rewarding to attend our social event almed at bringing together some local groups and people we support. It was useful to put some fates to name5, and to renew some old acquaintances and make some new connections too. Training and Splrltual Supervlslon Training.. During Winter of 2023 1 completed a Roman Catholic Diocesan "Lay Leaders of The Word" course which took place over 8 weeks. Thi5 is an accredited course land comes with a certificatell and means that particlpants can be registered or acknowledged as lay worship leaders within the Diocese. Spiritual Supervlsion.. During 2023 1 arranged to meet the retired Roman Catholic Bishop Iseamus Cunnlnghaml for some informal spiritual SLSPPOrt. This involved visitin8 him at his home lin Seahaml and spending some time in conversation and prayer. Dates for summer 2024 are planned too. Andrew Tinkler, Chaplainfvr The Hospital of God 19
Grants- supporting the voluntary and community sector The charity has a long and proud philanthropic hlstory. Through our small grants programme, we provide funding to voluntary and community organisations and charities who are based within the Hospital of God's geographical boundary covering Stockton to Northumberland. The aim of our 8rant funding is to empower local communities to help and support themselves, creating and building on their strengths and assets, with a particular focus on those who are experiencing disadvantage. The Hospital of God's Grants Committee meets on an annual basls to allocate Erant fundlng. Wlthin this reporting period, in April 2023 funding was issued to 69 voluntary and community sèctor organisations with grants totalling £lOO,000. Some of the or8anisations that received funding include.. 40, Hartlepool Scout group- a group which changes Ilves by offerlng 6-15-year-olds fun and challenging activities, unique experiences, everyday adventure and the chance to help other5 to make a positlve Impact In the community Clean Slate Solutions- a Charitable Incorporated Organisations ICIOI, covering Teesside and North Yorkshire. Supportin8 people with past convictlons into meaningful, paSd, sustainable work wlth genulne long-term career prospects throu8h a network of employers. Actlon FoundatSon- a charlty that supports and empower5 people seekin8 asylum, refugees and mlgrants In Tyne and Wear to overcome immediate barriers, Inte8rate with the communlty. and build skills for the future. Palllon Actlon Group- a charity established In 1993 to Improve the Ilving condltlons, community facilitie5, social, educational and economic opportunitles available to people wlthln the Pallion and surrounding areas of the City of Sunderland. The Actlvlty Den- improvlng the lives of young people In the Tanfleld Lea, Stanley and surrounding areas of county Durham. by delivering qualSty activities and malntalnlng community building. 'Thank you for belng such a great help and support towards the work we do and enabling US to continue to work wlth some of the most underrepresented communltles." "We've been overwhelmed recently wlth the number of people requestlng help and in crisis. Your grant was crucially Important to our or8anlsation" "Provldlng core costs Is the most helpful way to support charltle5• giving them the flexibility to utilise the grants where it is most needed. Thank you for providing us with our grant and helplng us to help more young carer51" "The grant application was extremely simple and user friendly. Often the need to provide very detalled and extensive Informatlon when applylng for grants can be off-putting, but thls application was very accessible and communication after the award has been similarly straightforward" 20
Impact of the 2023 grant fundin8 programme.. Im'i )i)It' In¢ Iiiiliiw 111 I'hilLIIi'n l i iun&)l'Th' I Illi'iii linLJ Ifiinili i'l i'lll% I I Jk'¢irk. l.) ['111'1115 7 41¥J IM.1.t{l iiin¢'s Our plans for the future Followlng the Strategy Day held by Trustee5 In the summer of 2023. Trustees Identifled the change that they wanted to see in people's lives, definin8 the impact of the Charit¢s seIce dellvery. Thls alm is underpinned by our 6 key strate8lc objectives. Older people and those livin8 Wlth a dementia live well, are safe, happy and content Families and famlly carers can continue to be part of their loved one's lives, providing care. love and support. Through the delivery of a ran8e of services, that are valued driven aiming to achieve the following outcomes.. Older people feel part of their community and have a sense of belonglng Ireducing lonellness and isolation) People living with dementia live life and are valued, dignified and respected (staying healthy and fulfilled) 21
Family carers can contribute to care for and support their loved one5 Istaying healthy and Strong financial management To achieve an acceptable and good return from our financial investment5 to enable and support the delivery of the Charities objectives and maintain the value in perpetuity for future beneficiaries. Key activitles Support the Director and Head of Finance to achieve appropriate embedded internal financlal management arrangements that meet the Charity's needs, are effective and efficlent Maintain key financial performance KPIS Continue to monitor performance of Investments wlth JP Morgan to ensure an approprlate return Revlew our investment manager5 to achieve appropriate perfomiance and best value OutstandlnK servlces Key activities Continued delivery and development of community based services for people living with dementia in Hartlepool and East Durham, c105ely monitorlng attendance figures and performance Continued dellvery of Almshouse provlslon (Stockton, Norton, Hardwlck, and Hartlepooll maintaining good levels of occupancy compliance and resident satisfactlon Contlnued delivery of resldential care at Stichell House malntaining Level I status with the local authorlty, maintaining CQC "Good" rating, mlnimisin8 the use of agency staff to a bare mlnlmum, maintainin8 8ood occupancy and resldent satisfaction level5. Develop as a recognised dementia centre of excellence at The Heather5 in Hartlepool Continued delivery of Chaplaincy support for residents, cllents, and their famllies across the Charity. Professlonal property servlce5 We are committed to meet our charitable objectives, in Ilne with our v151on, mission and values. Beln8 a provlder of 8ood quality accommodation for older people (Almshouses and Stichell House) that reflects the needs of the changing resident demographics and is compliant with current and future legislation. Being a provider of good quality accommodation on a commerclal basis for residents of Greatham. Being a provider of good quality commercial property and 51te5, including farms, offices, shops and public houses. EnsLtrlng the portfolio contributes effectively financlally. Reviewing and taking opportunitie5 for acquisition of and development of property assets and land. Key activities: Compile a property register of all properties held by the Charity to include a detailed narrative and understanding Prepare o schedule of condition of all properties to understand and what works are required to enable the delivery of long term pre-planned maintenance programme Operate a rolling 3-year forecast for budget planning Understand rents, leases, rent review dates and prepare a 3-year plan to harmonise all rents Conduct a survey of residents to understand their view5 and areas of change/development 22
Be8in the process of considering development of 21, Century almshouses including at The Heathers as part of plans for developing a Dementia Centre of Excellence. Continue development of Greatham Wetlands Project workin8 Wlth partners to increase the financial return to the Charity through the management and sale of bio-diversity credit5 Employer of cholce We are committed to building an inclusive and positive culture where staff are empowered, valued, have space and opportunity to develop- to be the employer of choice. Key activities Develop an organisational structure and empowered staff to deliver our aims Establish an organisation structure for senior staff positions Develop 5uccesslon plans for senlor staff positions Maintain our commitment to values-based recrultment and retention - consistent with our mission and value Further develop our induction and staff trainlng opportunities Commit to being a learning organisation, enhancing Iraining and learning opportunities Provide competitive remuneration with proportionate payment scales Establish a Remuneration Committee of the Board for oversight of 5enlor staff pay Good governance and leadership We are committed to pur5ulng the Charlvs objectlves In the context of our Mission and Values, and our forward rolling Strate8y, making a difference to people's lives and having an impact. Ensuring that the Charity's activities are conducted within the appropriate legal boundarles and acting as responslble custodlans of the Charlty's assets, conducting our business In a timely and falr way wlth honesty and appropriate transparency We wlll empower our staff team to work to deliver the Charlty's objectives Sn the context of our mission and values includin8 appreciatlng the distinct and separate role of the Director of the Charity Key artlvltles Revlew the tlmln8s and numbers of board meetin8S throu8h the year creating time for dlscusslon and development. Revlew and revlse the structure of the Boards commlttees, includln8 their terms of reference and delegated powers. Seek applications for Trustee appointments to fill existlng gaps in our skills, knowledge, and experience Revise the brand name and materials Impactful Grants Committed to provlding a small grant programme of North East based, Charitles, soclal enterprises and community groups. Who can demonstrate how thelr work meets need and makes a difference. Key Actlvltles Delivery of grants programme Monitoring of outcomes Start to SUPPOrt the development of networks. sharing experience and mutual support 23
Financial review Summary Total income for ihe year wa5 £3.7m12022: £3.9ml and total èxpenditure on operations was E4.3m 12022- £5.Iml, glvlng an operating deficit of £0.6m12022: £1.2ml which has been funded from unrestricted reserves. The charity invests in its servlces uslng its accLfjmulated reserves and the income generated from its investment activities. The restructuring of services and a fotus on seNices breaking even has continued this year to support the long-term financial strength of the charity. There has also been an improvement in the performance of our investments following the significant losses experienced last year. This has generated an unrealized gain on investments of £2m which has contributed to the overall increase of £1.469m in Total Fund5 to £46m12022: £44.5ml. Results trom charltable actlvlties The principal source of funding for the charity's actSvltles is the income received from fees, contract payments and 8rants for its care and communlty services which this year accounts for 74%1£2.7ml of total income, 77% in 2022. Income from residential care amounted to £1.4m whlch 15 a decrease of approximately 20% on the previou5 year. Expenditure lincluding support COSt51 on residentlal care services has fallen bv pproximately 35%. For the year to October 2022 Gretton Court Nursing Home c105ed part way through the previous financial year in March 2022 and expenditure included one-off redundancy costs, holiday pay and pay in lieu of notice for staff working at the home, amounting to £232k. Residential care setvices expenditure lincluding support costs) exceeded Income by 26% whlch represents a subsidy by the charity toward5 the full cost of this service. This is down from a subsidv of over 50% the prevlous year. Income from community Services amounted to £0.8m, an increase of 9% on the previous year. Expenditure on day and community services lincluding support costs) amounted to £l.Im, a reduction of £71k, approximately 6%, on the previous year. The subsidy from the charity for community care services was 39%, down from 60% the previous year. Income from the provision of supported almshouse accommodation amounted to £584k, a reduction of 1% on the previous year. Despite the annual uplift in maintenance fees, a fall in occupancy during the year, partly due to the sale of two almshouses that were located outside of Greatham, has resulted in a reduced income this year. The cost of providing this service, including support cost5, was £693k, an increase of £66k on 2022 due to filling staff vacancies to strengthen the support team and continuing the investment in the upgrade of the almshouses. This has increased the subsidy from the charity to this support this service from 6% last year to 19% in 2023. During the year, the charity contlnued its support for other charities, voluntary organisation5 and the Newcastle Diocese by awarding grants of £IOI,IX)O. These grants, and the associated support costs, continue to be entirely funded from the charitV'5 Qwn resources as part of its charitable activities. 24
Results from investment activities The charity holds investments in financlal and property assets which generate income and capital 8ains for use in meetin8 its charitable objects. The trustees employ investment fund managers to manage the financlal Investment portfolio on a discretionary basis within broad investment parameters set by the trustees which take account of tru5tees' views on acceptable leve15 of risk. The fund managers have been instructed that the charitv ha5 an ethical investment policy relating to dlrectly held securit5es which encourages investment in companies which are sensitive to the communities in which they operate, can demonstrate Success In business and financlal matters and adopt responsible corporate governance, employment and environmental pollcles. Performance of the fund managers is measured against appropriate industry benchmarks. Trustees and senior management meet regularly with the fund managers to review performance and consider changes to the portfolio in response to chan8e5 in market conditions. The investment objective of the endowment fund's financial investment portfolio is to achieve sustained growth over the medium to lon8 term whilst accepting a moderate level of rlsk. DurinB the year ended 31 October 2023 the charity's financial investments generated income of £290k and an unrealised gain on endowment funds of £1.98m. much improved on the £2.Im unrealised loss in 2022. The charity's investment objective continues to be to achieve growth over the medlum to lon8 term and short-term fluctuations in investment values are not expected to impact on activities. Under a total return order granted by the Charity Commission In 2010 the charity is permitted to draw upon capital growth In the endowment's flnancial investment asset5 to SUPPOrt Its ¢harltable activities provided alway5 that the real value of the trust for investment is maintained. In this wav trustees ensure that due consideration is given to the needs of both present and future beneficiaries of the charity. Details of the total return approach to the investment of the charlty'5 permanent endowment is given in Note 17 to these accounts which shows that the value of the "trust for Investment" at 31 October 2023 was £21.6m1£19.07m 20211 and the value of unapplied total return at that date was positlve £0.52m, Inegatlve £4.Olm, 20201. Unapplied total return represents that part of the accumulated unrealised galns on the flnancial investments which is available for trustee5 to spend In meeting the charity's objectives or to replenlsh general reseNes. During 2022 the decline in the global stock markets wiped out the unapplied total return but improved performance durin8 2023 has again generated a positive unapplied total return. The charity ha5 not drawn down any funds from endowment growth during the year. The charity's portfolio of investment properties comprises houses, farms. commercial and other properties locoted in and around the village of Greatham. The portfolio is managed in-hov5e. The charity endeavour5 to be a good landlord with one of its strategic objectives being to deliver professional property services. The comprehensive refurbishment of properties has continued this year in furtherance of this objective. The net income generated from these properties during the year was É267k1£234k 20221, after deducting maintenance and other costs including support costs. Overall. rental income Increased by 4% during the year. Expenditure on these properties has reduced by 2%, with £91k bein8 spent this year, in addition to £167k in the previous year, on replacement doors, windows and boilers and refurbishment of kitchens and bathrooms. 25
Financial position The charSVs overall financial posltion remains strong, wlth total funds at 31 October 2023 amounting to £46m, an increase of £1.5m13%1 on the previous yearfs funds of £44.5m with £2m of unrealised gains on the financial investments. Of these total funds 94% is represented by the charity's endowment fund assets, primarily its financial and property investments. Of the remaining funds, approx. 2% represents funds held on trust in a restricted fund for the Charity of Emma Simpson for Almshouses and o further 4% of funds comprise the charity'5 unrestricted reserves. The assets in which the endowment fund Is held remain unchanged with 50% of the assets being held in listed investments, over 30% held in the form of property, 17% in flxed assets and the remainder in inter-fund balances. The value of the financlal Investments held in the Endowment Fund at 31 October 2023 inclvde5 an Unapplied Total Return of 0.55m12022'.1£0.52mll. This Is after a recalculation of the Unapplied Total Return as detailed in Note 17. There is no obligatlon to maintain the value of permanent endowment investment and investment values will fluctuate over tlme. Durin8 the year Tru5tee5 approved a revlsed Investment mana8ement policy to reflect updated 8uldance. The re51ricted fund represents the assets of the Charlty of Emma Simpson for Almshouses which are held and mana8ed by the charily as corporate trustee of the linked charity. £0.7m134%1 of the charlty'5 £1,9m unrestrlcted funds are held in net current assets with the balance being held in listed investments. The charlty continues to have a good level of Ilquidity, although th15 has reduced during the year, with total assets less current liabilities of £1.8m12022'. £2.3ml The trustees have established a reserves policy to ensure that In the unllkely event of all sources of income ceasing at once the charity could operate for a period of three months, which equates to approximately £lm. At 31 October 2023 the charity's unrestricted funds totalled £0.7m12022: £1.2ml. In view of the overall strength of the charitvs flnancial posltlon backed by its endowment and available cash and the move towards full c05t recovery for SeiCe5, the trustees confirm that they consider the reserves to be sufficient to enable the charSty to continue wlth its operations and to fulfil its obllgations as they fall due. The charity ha5 already seen a significant shift towards ensuring servlces cover their costs including a contribution to overheads and this will continue during 2024. The charity has a long-term financial obligation in respect of The Greatham H05Pltal Pension Scheme, a legacy defined benefit pension scheme for which the charity is the sponsoring employer.This pension scheme is closed to new member5 but remalns open to future accrual for the remaining active members. The most recent comprehensive actuarial valuation of the scheme was carried out as at 31 October 2022, which indicated a reduced actuarial deficit of £91,1XM) at that date. The charity, as spon50ring employer, has agreed with the trustees of the Scheme a deficit recovery plan involving additional contributions which is expected to eliminate the shortfall by November 2023. For the purposes of the financial statements as at 31 October 2022 the valuation calculated in accordance with Financial Reporting Standard 102, shows a pension scheme 'asset' of £254k.12022'. £209k'asset'l. 26
Structure, governance and management Formation, legal structure and objectives The charity was first founded In 1273 by the Bishop of Durham, Robert de Stichell, and was Subsequently re-founded in 1610 by King James l. The present charlty governing document Ss the scheme of the Charlty Commi55ion dated 27 June 2002 as amended by the uniting order of the Charity Commission of 26 March 2009 which appointed the charitable company as the corporate trustee of the charity. The Hospital of God at Greatham charity holds the permanent endowment on behalf of the company. The present governing document of the charltable company15 the memorandum and articles of a550ciation dated 13 March 2LN)8 which sets out its charitable objectives: "the provision of housing accommodotion ond extro core occommodotion for beneficiaries the provision of gronts, not exceeding £5,000 in any one yeor, for Such parochiol orchoritoble purposes WArhln the pori5h of Greutham 05 the trustee5 thinkfit. the relief of persons who ore in conditions of need, hordship or distress. includlng but notlimited to people living with Alzheimer's disease ond related disorders, by providlng grrjnts ofmoney to them orfor their benefit,. by providing or puyingfor goods, services orfocilities forthem,, or bv muking gronts of money to other persons or bodies who provide good5, Services orfvcilitiesto those In need,. the appropriation of bungolows, olmshouses ond otherproperty belonging to the charity forthe use of residents ond brethren of the chority,. ond the mointenonce of the chapel which is devoted to the performonce of dlvlne service for thebenefit the brerhren ond resldents of the thority." These objects are achieved through the provlslon of residential and nursing care for older people and people living with dementia,. community support service5 for older people and people living with a dementia, and their carers; the provision of supported housing for older people,. and the makSng of grants to other charities and voluntary organisations. Governing body and governance The tru5tee5, who are also directors of the charity for the purposes of the Companies Act, have overall responsibility for the strategy, management and control of the charity. There is provision for ei8ht co-opted trustees, and they are elected by the existing trustees at a general meeting as vacancies arise and in accordance with the needs of the charity. There is a one-year trial period for new co-opted trustees. Each co-opted trustee may serve for two periods of five years. 27
There are three ex-officio trustees, namely the Archdeacons of Durham and Northumberland and the Bishop of Durham. The archdeacons take up the role of trustee by virtue of their position and hold office for as long as they remain in post. The Bishop of Durham holds office for as long as he or she remains in post. The Bishop may. and historically has, nominated someone to act on their behalf for a five-year period which can be repeated. The Trustees are required to elect a chair of their meetings at the first meetin8 of each calendar year. As part of thelr Induction new trustees receNe the following documents.. the Trustee Handbook; the latest set of audited accounts,. the scheme of the charity,. the memorandum and articles of association,. the budget for the current financial year- the trustee code of conduct; the trustee declaration of interests whlch is updated annually- relevant Charity Commission publication5 via their website. the latest timetable of meetings and workplan; Scheme of DeSegation- Risk Register The Board of Trustees normally meets four times each year. The Charity's Board of Trustees is responsible for establishin8 Structures for the proper governarbce and mana8ement of the charlty and the development of the vision and strategy of the charity in accordance with its objects. In this vear, reflectln8 the development of its governance arrangements, Trustees have used online meetings on a regular basls to hold formal and regular discussion meetin85. The truslees have established several committees to consider issues in greater depth and to advise the Board. These committees, which are accountable to and report to the Board, are as follows.. Finance and Property committee which meet5 four times a year to provide overslght of the charity's finances and investments, flnancial strategyi objectives, plans and policies and the developing property strategv. Grants Committee whSch now meets twice a year. In addition, a Trustee has joined the Charity's Governance, Audlt and Improvement group to offer insight and a direct link to the Board of Trustees. The trustees ensure that the charlty has effective Strategy, and that effective monltorin8 and 80vernance arrangements are in place. The day to day running of the charity and the exercise of executlve responsibility is delegated to the charity Director and the Senior Leadership team. The charity is not part of o formal network of other charitie5. It does, however, have contractual and working relationships with local authorities for the provision of Social care seNices and housing support Services and contractual relationships with the local commissioning bodies for the funding of community services and nursing services. The Hospital of God at Greatham has absorbed or been formally linked with other charities in recent year5 a5 follows.. Fox Almshouses Trust- absorbed on l February 2008 Hartlepool and East Durham Alzheimerfs Trust- absorbed on l April 2008 Stockton Almshouses Chority and Stockton Relief in Need Fund - both absorbed on 12 Julv 2010 Charity of Emma Simpson for Almshouses- linked by Charity Commi55ion order on 28 July 2017. 28
Further information is given in the Notes to the Financial Statements which accompany this report. Statement of public benefit The trustees 8ive due conslderation to Charity Commission guidance on public benefit ijnder the Charities Act 2011. The Hospital of God at Greatham provides public benefit by virtue of its object5 which are to relieve need, hardship and dlstress. We work to ensure the independence, health, wellbeing and social integration of the people we work with. Where individua15 are not able to pay fees, for example in our residential homes, because they cannot afford them, the charlty would encourage them to seek state funding. The charity to a greater or lesser extent supports or subsidlses all Its services from its own resources and this is considered by trustees to be an appropriate use of the charitable endowment In accordance with the legal objectives of the charitv. Examples of how charltable funds are used to create public benefit are.. the use of the charity's property and financlal assets to support the delivery of its charitable services. the use of charity funds to contribute and add value to service delivery to ensure that the charity's seryices are effectlve, affordable and accessible. the operation of a transport service In our day centres, which enables people to attend who would otherwise not be able to do 50,. the expenditure of capital in order to modernise and improve our supported almshouses for the benefit of beneficiarie5,' the makln8 of grants to other charltles and voluntary organlsatlons in need throughout the north east of England with the objective to relleve need, hard5hlp or dlstress. Rlsk management and prlncipal rlsks The trustees have overall responsibility for the management of risk wlthln the charity and vlew the management of risk as an essential dis¢ipllne to support the charity in achieving its goals. The trustees have conducted a review of the major risks to which the charity is exposed. A risk register has been establlshed and Is updated annually. Control systems have been put in place to mitigate such risks. The charity Director report5 to trustees on any new risks that might arise during each year. These major risks have been identified by the Board of Trustees and the measures taken to mitigate them are detailed below. They are included within a full and comprehensive re8iSter which is monitored and revised as is necessary. Identlfied rlsk Flnanclal Controls (Board level) Inability to monitor actual against planned financial p051tion Mitigatl acoon Receive assurance of effective internal financial controls Monitor actual financial position against expected/planned perfomiance 29
Inaccurate information about short-term financial position Future financial security damaged Auditors queries addressed Quarterly accounts reported Variances explained Report of annual external aLtdit Benefit Realisation from Property Investments Poor return detrimental to future generations Not fit for purpose Reduced income Reputational damage Compliance failure leading to flnancial loss Property maintenance survey completed. Developing planned maintenance programme Developinglrestructure Land and property team in progress Ilnterim arrangements in place Au8USt 2024 lan 2025 assistant Director.Land and Property in postl Management accounts income records Strateglt Dlrectlon: Alm, Objertives and Plans Charity becomes divorced from the objects deflned in the Memoranda Charlty'5 Strategic direction falls to take account of new legis1?tionlCharlty Commlsslon requirements and guidance Adhere to Objects set out in Memoranda ChecklEstablish 3, 5 and 10 year StrateBY Plans to deliver to objectives Observe new le81slation and Charlty Commi55ion's guldance Align new and further developments of prov15ion with Strate8Y Revisit quinqvennially Objects defined In Memoranda (update If nece55aryl Review and update Strate8y annually (Strategy Davl Board Vacancles Reduced ran8e of expertise available Excessive workloads Reduced capacity to meet responsibilitles Monitor Term5 of Office and vacancles Complete Skills Audit and recruit to gaps Quarterly report to the Board of terms of Office Follow Trustee appointment procedure lagreed at Board April 20221 Complete the Trustee induction process Statement of trustees, responsibilities The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and UK Generally Accepted Accounting Practice. Company law requires the trustees to prepare financlal statements for each financial year which give a true and fair view of the state of affairs of the charlty and of the Surplus or deficit of the charity for that period. In preparing these financial slatements, the trustees are required to- select suitable accounting policies and then apply them consistently., make judgements and estimates that are reasonable and prudent,. and prepare the financial statement5 on the going concern basis unless it Is inappropriate to presume that the charity will continue In operation. The trustee5 are re5pon5ible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for 30
safeguarding the assets of the charity and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularities. Statements of dlsclosure to auditors In so far as the trustees are aware.. there is no relevant audit informatlon of which the charitws auditor5 are unawa. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit informatlon and to establish that the auditors are aware of that information. Wm Fortune & Son are deemed to be reappointed In accordance with Section 487121 of the Companies Act 2006. This Trustees, Annual Report, which Incorporate5 the Strategic Report and the DSrectors' Report required under the Companies Act 2006 Istrategic Report and Dlrectors Report) Regulations 2013, was approved by the Board on 18 July 2021 and signed on its behalf by; A fv7t//i Margaret Bousfield Chair of trustees Lawrence McAnelly Director Company Secretary 31
Independent Auditor's Report Opinion We have audited the financial statements of The Hospital of God at Greatham (the 'charity'l for the year ended 31 October 2023 which comprise the statement of financial activities (including income and expenditure accountl, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applled in their preparation is applicable law and United Kin8dom Accountin8 Standards. including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financlal statements.. give a true and fair view of the state of the charity's affalrs as at 31 October 2023 and of its incoming resources and applicatlon of resources, including Its Income and expenditure, for the year then ended have been properly prepared in accordance with United Kingdom Generally Accepted Accountlng Practice,. have been prepared In accordance wlth the requirements of the Companies Act 2006 and the Charities Act 2011. Basis for opinion We conducted our audit in accordance wlth Internatlonal Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described In the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity In accordance with the ethical requirements that are relevant to our audit of the financial statements In the UK, Including the FRC'S Ethical Standard, and we have fulfilled our other ethical re5pon5ibilities in accordance with these requirements. We believe that the audit evidence we have obtained 15 sufficient and appropriate to provlde a ba515 for our opinion. Concluslons relatlng to golng concern We have nothlng to report in respect of the following matters in relation to which the ISAS IUKI require us to report to you where= the trustees, use of the Eoing concern ba515 of accounting in the preparatSon of the flnanclal statements is not appropriate,. or the trustees have not disclosed in the financSal statements any identified material uncertaintie5 that may cast significant doubt about the charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. Other information 32
The other information comprises the information included in the annual report, other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otheise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent wlth the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such materiol incon515tencies or apparent material mlsstatements, we are required to determlne whether therels a materlal misstatement In the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other Information, we are required to report that fact. We have nothlng to report In this regard. Oplnions on other matters prescribed by the Companles Act 2006 In our oplnion, based on the work undertaken in the course of the audit.. the information 8iven in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the tru5tee5' report ha5 been prepared in accordance with applicable legal requirements. Matter5 on which we are required to report by exception In the light of the knowledge and understandlng of the charity and its environment obtaSned In the course of the audit, we have not identified material mi55tatemen15 in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companles Act 2IXJ6 and the Charities Act 2011 requires us to report to you if, In our oplnion: adequate accounting record5 have not been kept, or returns adequate for our audlt have not been recelved from branche5 not vislted by us; or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees, remuneration specified by law are not made,. or we have not recelved all the informatlon and explanations we require for our audit. Responsibilities of the trustees As explained more fully in the trustees, respon5ibilitie5 Statement, the trustees Iwho are also the directors for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustee5 are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using 33
the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Audltor's responsibilities for the audit of the financial statements Our objedives are to obtain reasonable assurante about whether the flnancial statements a5 a whole are free from materlal mlsstatement, whether due to fraud or error, and to issue an auditorf5 report that includes our opinion. Reasonable assurance 15 a high level of assurance but Is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Mi55tatements can arlse from fraud or error and are considered material if, individually or in the aggregate, they tould reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our re5ponslbilitie5, Outllned above, to detect material misStatement5 in respect of irre8ularities, including fraud. The extent to which our procedures are capable of detecting IrregularSties. including fraud Is detailed below: Because of the inherent limitations of an audit, there is a risk that we wlll not detect all irreBularities, Including those leadlng to a material misstatement In the financlal statements or non compllance wlth regulatlon. This risk Increases the more that compliance with a law or transactlon is removed from the events and transactlons reflected in the financial statements, as we will be less likely to become aware of instances of non compliance. The risk is also Breater regardlng irregularlties occurring dLte to fraud rather than error, as fraud Involves intentional concealment, forgerv, collusion, omission or misrepresentation. As part of an audit in accordance with ISAS IUKI, we exercise professional judgment and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of materlal misstatement of the financlal statements, whether due to frau(l or error, desi8n and perform audit procedures responsive to those risks, and obtain audit evldence that is sufficient and appropriate to provide a ba515 for our oplnlon. The rlsk of not detectin8 a material misstatement resultlng from fraud 15 hlgher than for one resulting from error, as fraud may involve collusion, for8ery, intentional omissions. misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedure5 that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriatene55 of accountin8 policies Used and the reasonableness of accountlng estimates and related di5c105ures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evldence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a 80ing concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusion5 are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. 34
Evaluate the overall presentation, Structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and Èvents in a manner that achieves fair presentation. We communicate wlth those charged with governance regarding, among other matters. the planned scope and timin8 of the audit and significant audit findings, intluding any slgniflcant deficiencies in Internal control that we Identlfy during our audit. Use ofour report This report is made solely to the charlty's members, as a body, in accordance wlth Chapter 3 of Part 16 of the Companies Act 21KJ6. Our audlt work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charlty and the charity's members as a bodys for our audit work, for this report, or for the opinions we have formed. Thomas Atkin50n Isenlor Statutory Auditor) For and on behalf of Wm Fortune and Son, Chartered Accountant5 & Statutory Auditors Collingwood House Church Square Hartlepool, TS24 7EN 17 July 2024 35
The Hospital of God at Greatham Statement of Financial Activities (including income and expenditure account) Yèar ended 31 October 2023 2023 2022 Unrestrlcted RÉstrlctod EndowTnen¢ lund5 funds funds Total ftsnds Total funds Note Incom• and endowments Donations and legacles Charitable activitie5 Investment income 9.546 2.704,256 666.188 9,546 2,743,135 956,153 8,281 3,007.496 872,420 38,879 289,905 Total Income 3,379,990 38.879 289,965 3,708,834 3,888,197 Expenditur• Expenditure on rnising funds.. Investment management costs Expendi¢ure on charitabl• acuvitie5 {365.399) (156,146) (521.545) IS45,2951 9,10 (3,069,506) (60.•74) (1 0.000) (3,740,380) {4.596.4641 (4,034,905) (00,874) (166.146) (4.261.925) I5,141,759} Total exndIture Total Incom• l•sJ total expenditure (654,915) (21,995) 123.819 (553,091) 11.253,5621 Ne¢ unrealised gainslllossesl on investmen 9,597 2,044 1.963,501 1.975,142 12,167.7601 Realised gainslllosses} on disposal of fixed assets 2,710 2,710 299,102 Net Incomel(expendltur*) (642.608) (19,951) 2,087,320 ,424,701 (3,122,220) Transfers between funds 23 87,985 (87,9851 Other r•co8nised gains and105ges Ilncrea5e)decrease in pension fund deficit 21 45,000 4S,000 362.000 Net movement In funds (509.623) (19,951) 1,999,335 1,469,761 12.760.220) Rèconciliation of funds Tocal funds brought forward 1.207.443 1,055,7S3 42,2J1,082 44,494,278 47,254,498 Total funds carried forward 23 697.820 1.035.802 44.230.417 4S,964,039 44.494,278 The statement of financial activitie5 includes all gains and lossÈs retognised in the year. 36
Income and expenditure derive from continuing activityes. The Hospital of God at Greatham Statement of Financial Position Year ended 31 October 2023 2023 2022 Flxed a55ets Tangible lixed assets Investments 8,241,316 16 35.857,239 8.440.743 33,765,969 44,09a,55S 42,206,712 Current aisets Debtors Cash at bank and in hand 18 329.703 1,838,764 470,040 2,337,105 2,168,467 2,807,145 Cr•ditors: amounts falllng due wlthln on¢ year 19 {467,557) 1637,793) Net curr•nt asets 1,700,910 2,169,3S2 Total assets leJ% current Ilablliti•s 45,799,465 44,376,064 Credltort: mounts falling duè aft•r mor• than one year 20 (89,426> 190,7861 Pènilon sch•m• aJs•t l (provljlonj for p•nsion liabil•tie>) 21,22 254,000 209,000 Net assets 45,964.039 44.494.278 Funds of the charlty Endowment funds Restricted funds Unrestricted fund5 44,230.417 ,035,802 697,820 42,231,082 1,055.753 1,207.443 Total charlty funds 23 45.964.039 44.494,278 These financial statements were approved by the b¢)trd of ¢rustees and authorlsed for i55ue on 17 july 2024,, and are signed on behalf of thè b¢)ard by: Margaret Bousfield Chair of trustses 37
The Hospital of God at Greatham Statement of Cash Flows Year ended 31 October 2023 2023 2022 Cash flows from opèrating activitl Ne¢ incomelle¥penditur¢l 1.424.761 {3,122.2201 Adjustments for Depreciation of tangible fixed assets Ne¢ valuation Igainslllosses on investments Net (8ains}1105ses on disposal of tangible fixed assets Dividends, interest and rent5 from investments Interest payable and simllar changes Increaselldecreasèl in accrued liabilitle5 227,052 (1,975,142) (2.710> {956,1 $3) 10.203 (63,5Z3) 222,873 2,167,760 (299,1021 1872,420) 10,328 22.335 Change5 tn.. Trade and other debtors- {increaselldeerease Trade and other ereditor5- increaselldecrease 140,337 {106,8S2) 49,698 Cash generated fromllused inl operatlng activitie5 (1,302,027) 11.965,8791 Interest paid (10.203> 110.328} Net cash generated fromllused inl operacing activi¢ie5 (1,312,230) (1,976,207} Cash flows from Investin8 acVItIeS Dividends, inthrest and rènts from investmtnts Purchase ol tangible a5set5 Proceeds from sale of tangible assets Purchases ol other investments Proceeds from sale ol other in¥estmen¢s 956.1 $3 (34.665) 9.750 (204.556) 168,429 872,420 128,113) 338.083 {245,5221 147,418 Net cash from investing activitie5 1,084,286 Cash flows from flnanclng artivlties Loan repaxment5 (1,222) 11,0941 Net Cash used In financing activities {1,222) 11,0941 Net intreasel(decr•ase) in cash and (h equlvalents Cash and cash equivalents at beginnin8 of year (498.341) 2.337,105 1893,0151 3,230.120 Cash and cash equivalent5 at end of y¢ar 1,838,764 2.337.105 38
The Hospital of God at Greatham Notes to the Financial Statements Year ended 31 October 2023 General informatloTh The charity 15 a private company limited by guarantee. registered in England and Wales and a registered charity in England and Wales. The charlty ¢onsdtu¢¢s a publ1¢ benell¢ enuty as dtftned by FR5 102. A5 corporats trustee che company adminlscers the endowmenr fund of the Hospitsl of God at Greatham which Is an unincorporated charity. The endowment funds thu5 do not form part of the corpora¢e a55ets of the company bur ar• instead h•ld on crust by the charitabl• company. In accordanc• wlth Charity CgmmissioD rKommendations the endowment fund held on trust is included in the financial statements of the charitable company but is discinguishÉd from the charltabl• company's ocher fvnds. In accordancè with thè Charity Commission Scheme of 27 lune 2002 income generated from inves¢ments within the charity's endowment lund becomes available lor use by the charitable company in furtherance ol it5 objectives as doe5 capi¢al growth on the financial investments covered by the order for tothl return dated 15 November 201 O referred to In Noté 17 01 this report. Under an Order of the Charicy Commisslon da¢¢d 28 July 2017 th* chaA¢ablÈ ¢ompany was appoln¢ed sole ¢ru5tee ol the Charity of Emma Simpson for Almshouses Icharity reg. 222517. now 1123540.21, an unincorporated charity. Thè charitable company, a5 corporate trustee. thereby administer5 ¢he endgwmen¢ and other funds of the Charfty of Emma Simpson for Almshouses. whlch do not fomi part of the corporaté assèts ol chè company but art instèad htld on trust by thé charitablè company in a rèstrittèd lund. In accordance with the Order, the Charicy ol Emma Simpson for Almshouses is treAd as forming part of The Ho5pi¢al of Ggd at Greatham lor the purp05e ol Par¢ 8 laccoun¢ingl ol ¢he Charityes Act 2011. Stat•m•nt of ¢omplian¢e These financlal ststaments havè been preparéd in compliancè with FRS 102, The Flnancial Reporting Standard applicable in the UK and the Republic ol Ireland,, the Statement of Recommended Practice applicable ¢0 charitie5 preparing thwr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} (Charitie5 SORP IFRS 10211 and the Charitie5 Act 2011. Accountlng pollcles Basls of préparatlon The financial statements have been prepared on a htstorical cosc basis, as modified by che revaluation ol certain financial assets and liabilities and investment properties measured at fair value through income or expendlture. The financial statements are prepared in sterllng, which is the funttional currency of the entity. Going concern There are no maierial uncertainties about the charity's abillty to conrlnue. 39
The Hospital of God at Greatham Note5 to the Financial Statement5 (coiitinued) Year ended 31 October 2023 Accounting polities (conunued) Fund accountlng Unrestyicted fuThJs are available for use at the discretion of the trustees to further any of the charity's purposes. Dèsignated funds are unrestricted funds earmarked by the ¢rusre¢ for partlcular future projects or commitments. RtrIcted funds are subjected to res¢ric¢ions on cheir expenditure declared by the donor or ¢hrough the terms of an appeal and lall into one ol (wo sub-cla55e5= restricted income funds or endowment funds. The haritY'5 restricted funds comprise its permanent endowmenu ¢he Stockton Reliel in N¢ed endowmènt lund and restrltted funds relating to The Chari¢y of Emma Slmpson for Almshouses as referred to in Note Income recognition Income is induded in thè statement ol financial actirieS when enti¢lement ha5 passed to the charity. it 15 probable that the economic benefits assoclated wi¢h the transaction will flow ¢0 the charity and the amount can be reliably mSUrd. Thè followin8 poin¢5 are appli•d to particular categorles of income.. Income frorn donations or grants is reco8nised when there Is evidence ol entitlement to the 8ifL receipt 15 probable, and it5 amount tan be mèasured reliably. Donated lacilitiès and services are recogni5ed in the accounts when receivèd if the value can be reliably measured. No amounts are included lor ¢he contribution ol gener741 volunteèrs. Income from contracts lor ¢he supply of services is recognised upon the delivery of the contracted setrylce. This is cla55ified as unres¢ric¢ed funds unless there is a contractual requlrement for it ¢0 be spent on a particular pyrp95e and rèturned il unspeni in which case It may be regarded as restrlcted. Exp¢ndityr¢ rècognltlon Expènditure is reco8nised on an accruals basis as a liability 15 incurred. Expenditure include5 any value added tax which cant)ot be fully recovered. and is classified under headings of the statement ol financial activities to which it relates.. Expenditure on raising funds includes the costs of all fundrnising activities, events. non-¢haritae trading activities, and the sale of donated goods. Expenditure on charitable ac¢ivities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit ol its beneficiaries, including those suppcxt C05¢s and costs relating to the governance of the charity apportioned to charitable acrivityes. Other expenditure include5 all expenditure that is neither tslated to raising lund5 for the charity nor part ol its exPdIcure on charitable acuviues. All costs are allordted to expenditure categoriÈ5 reflecting the use of the resource. Direct Costs actributable to a single acuvity are allocated directly to that activity. Shared costs are apportioned between the activives ¢hey contribute to on a reasonable. justifiable and consistent basis. 40
The Hospital of God at Greatham Notes to the Financial Statements Iconiinued) Year ended 31 October 2023 Accounting policie$ (continued) Tw)glbl¢ ass¢ts Tanwble assets are inltially recorded at cost. and subsequendy stated a¢ cost less any accumulated depreciation and imp2irmen¢10s5e5. Any tangible assets carried at revalued amounts are recorded at thè lair value at the date of revaluauon less any subsequent ac<umula¢ed deprKiatyon and subsequen¢ accumulated irnpairmen¢ losses. Increa5e$ 2nd decreases in the carrylng amount of assets as a r•sult of revaluation are recognised in the S¢aomeTh¢ of Financial Activitles. D•pr•¢iatlon D•preelarion Is calculaced in order to wrlt• off the cost or valuation ol an asseL le55 its residual value, over the useful economic life ol that asset as follow5.' Frtehold property Equipment 2.S% rèducing balanc• 20% reducing balance Investments Llsted Invèstments are measurèd at fair Value with changes in fair Value beln¥ recognised in income or expenditure. Invèstrn¢nt property Tha trusteès carry out a rleW ofthe investment propertyes each year using in.hou5e resources or external resources if appropriate. Any adjus¢ments to fair value (rom the previous financial yèar arè recognised in in¢¢m¢ or expendi¢ure. Flnanclal InstrumÉnts A financlal assèt or a Nnan¢ial liability is CognISed only when the charity becomes a party ¢0 the contractual provisions ol the instrument. Basic financial instruments are initially recognised at the arnount receivable or payable including any relaTrd cransacclon costs. Current assets and current liabilities are subsequently mèasurèd at thè cash or ochtr considerttion expected to be paid or received and not discounced. Where investmencs in shares are publicly traded or their fair value can otherwise be measured reliably, the investment 15 sub5equendy measured at fair valve with changes in fair value recognised in income and expenditure. 41
The Hospital of God at Greatham Notes to the Financial Statements (continued) Year ended 31 October 2023 Atcounting policies Icontsnuedj Defined contributlon pension schemes Contributions to defined contribution pension schemes are recognised as an expense In the period in which the seryice is providtd. Limited by guarantee Tha charity is a company lim1t by 8uaran¢ee and has no share capi¢al. In the event ol the Chadty being wound up the liability in r•spect of the 8uaraft is limited tc £1 per member of the charity. Donations and legaci Unrestricted Total Funds Unresttted Total Funds Funds 2023 Funds 2022 Donation• Donations and legacies 100 100 SponJor%hlp #nd oth•r Spon5or5hip and other incorné 9,446 9.446 8,281 8,281 9,546 9,546 8,281 8.281 Incom• from charitable activitles Unrestric¢¢d Restricted Total Fund5 Funds Funds 2023 Reslden¢ial care 1,355.173 803,769 544.777 537 1.355.173 803,769 583,656 537 Community services Supported almshausas Other charltable attivitie5 38,879 2,704,256 JJ,879 2,743.135 Unrestricted Funds Restric¢ed Funds Total Funds 2022 Residential care Community services Supported almshouses Other charitable activityes 1,674,328 740.394 551.957 1.720 1,674,328 740,394 591,054 1.720 39,097 2.968,399 39,097 3,007,496 42
The Hospital of God at Greatham Note5 to the Financial Statements (continued) Year ended 31 October 2023 Investment Incon Unrestricted Endowment Total Funds Funds Fund5 2023 Income from investment propertyes n¢erest and dividends 632,817 33.371 632,817 323,336 289.96S 066.188 289,965 956,153 Unrestrlcted Endowment Funds Funds Total funds 2022 Income from invescm¢n¢ prop¢rdes Interest and dividends 607,053 14,786 607,053 265.367 250,581 621.839 250,581 872.420 Investment rnanag•m•nt costs Unrestricted Endowment TotAI Fund$ Fund5 Funds 2023 Portlolio management Property rèpairs and maintènancè charyès Support cus¢s 156.146 156.146 20S,484 159,915 205,484 159,915 365.399 156.146 521,545 UnroStric¢ed Endowment Funds Funds Total Funds 2022 Portfolio managernen¢ Property repairs and maintenance charge5 Support costs 172,720 172,720 279,243 93,332 279,243 93.332 372,575 172.720 545,295 43
The Hospital of God at Greatham Notes to the Financial Statements (conts'nued) Year ended 31 October 2023 Expenditure on charitabl¢ attlvitles by fund type Unrestricted Funds Restricted Endowment Total Fund Funds Fund5 2023 Fiesiden¢ial care Communlry service5 Supported almshouses Grants Fundraising fund cosis Other Charitae ac¢ivi¢is Support costs 1.306,966 741,310 427,701 91.000 0,50J 852 1,095,114 ,306.966 741.310 453.273 101,ooo 6,563 852 1,130.416 25,572 10,000 35,302 3,669,506 60,874 i 0.000 3,740,380 Unrestricted Funds Restricted Endowment Funds Funds Total Flbnds 2022 Residentlal car• Community services Supported almshouses Gran Fundraising fund costs Other charitable activities Support costs 2,264,226 687,283 398,911 89,192 4,677 145 1,097,592 2,264.226 687,283 435,583 99,192 4.677 145 ,105,358 36.672 10.000 7.766 4.542.026 4,438 i 0,000 4,596.464 l O. Exndire on charltable ictivitlej by activity ty Actiyltles undertaken directly Support costs Total 2023 Total 2022 Residential care Comrnunity services Supported almshouses Grants Fundraising fund costs Othèr charitable costs 1,306.966 741.310 453,273 101.000 6,563 852 40J,719 375,519 300,292 SO.886 1,710,685 ,116,829 753,565 151.886 6.503 852 2,644.665 1,187,845 627,142 131,990 4,677 145 2.609,964 ,130,416 3.740.380 4.596,464 All grants made were awarded to organisations and no grants were paid to individua15. The highest grant awarded to any organisacion during the year was £3,000 and no SIne organisation received m¢rÈ than £3,000 in grants during the year. All grants awarded are unconditional. 44
The Hospital of God at Greatham Notes to the Financial Statements (continued) Year ended 31 October 2023 I l. Net unrealised 8alnJ on investments Unrestricted Funds Restrlc¢ed Endowment Total Funds Funds Funds 2023 Unreallsed pInlIsSes) on listed In¥estmen(s 9,597 2,044 1.963,501 1.975,142 Unrestricted Funds Restricted Endowment Fund5 Fund5 Total Funds 2022 Unrealised salnsl(lossesl on Ilsted Snvestmen¢s (64,4721 (1,833} {2,101,4551 12,167,760) 12. N•t Incom• N•t Incom• Is stated aftér charln& 2023 2022 Auditor's remuneration Depreciation ol tan&bl* fixtd asstts 8,900 227.051 8,840 222.873 13. Staff costs The total staff costs and employee beneflts for the reporting period are analysed a5 follow5: 2023 2022 Wages and Salaries Social security costs Employer contributions to defined contribution pension 5cheme5 Employèr contributions to ddined bÉnt pension schemes Operatin8 costs ol defined benefit pensicn xheme 1,947,430 141.790 43,319 58.095 23,661 2,331,166 172,475 47,803 72.667 46,200 2.214,295 2.670,311 Included in employer contributions to defined benefit schemes is a payment of £48,000 to the Greatham H05Pital Pension Scheme under the agreed deficit recovery plan. Furcher details are given in Note 22 ¢0 these accounts. 45
The average ktead count of employees during the year was 9312022.. 1141, analysed as foll¢)WS: 2023 No. 2022 Management and idminis¢ratyon Care service5 Estate 14 77 99 93 46
The Hospital of God at Greatham Notes to the Financial Statements {coi?tinued) Year ended 31 October 2023 The number of employees whose remuneration for the year fell within the following bands. was: 2023 No. 2022 No. £70,000 to £79,999 Key Managem•nt P•rsonn•l Key management personnel include all persons that have authority and re5pon5ibili¢y for plannin& direttin& and controlling the acvvitie5 01 the charity. The to¢al compensa¢ion paid to kty management rSonnel l¢r $eThi¢es provided ¢0 the charity was £267,42612022: £273.6761. 14. TruJt•• r•mun•ratlon and •xp•ns•s No remunerauon was paid to the trus5. 15. Tangible fixed ass•ts Freèhold property Equipment Total Cost At l November 2022 Additions at cosr Transfer Irom o¢her charity Revaluauon of almshouse properries 12,911,521 232,258 34.665 13,143,779 34.665 Disposa15 199,5041 (99,5041 At 31 October 2023 12,911,521 167,419 13,078.940 DepreciatioD At l November 2022 Charge for the year 4.530,816 209.518 172,220 17.534 4.703,036 227.052 Oisp03a15 {92.464) {92,4641 At 3 l October 2023 4,740,3J4 97,290 4,837,624 Carrying arnount At 31 October 2023 8,171 187 70.129 8,241,316 At 31 October 2022 8.380,705 60,038 8.440,743 47
The Hospital of God at Greatham Notes to the Financial Statements (continued) Year ended 31 October 2023 16. Investments Listed inves¢ments Investment propertiès Total C05t or valuatlon At l November 2022 Additions Oisposals Fair value movements 22.347.719 284,S56 1168.4291 91,740 11,418,250 33,765.969 284,556 168,4291 1,975.143 1.883.403 At J l October 2023 22,555.586 13,301,653 35.857.239 Impalrment At l November 2022 and J l Octob•r 2023 Carryln8 amount At 3 l October 2023 22,555,586 13,301,653 35,857,239 At 31 Octcber 2022 22.347,719 11.418.250 33,76S,969 All invèstments shown above ar¢ stated at valuatlon. Llsted inv•itments The chariry's listed investmÈnts are largely held within a portfdio of investments managed by the ¢haritls professionl fund managers with some iddltional direct holdings in common iDve5trnent funds. The managed portfolio holds investment5 in the lorm ol equi¢ies, fixed income securitiÈs. hedge fund5 and commodiiies all ol which are part of publicly iraded market5 where tradin8 is based upon quoted prices. The fair valve of all holdings is based upon the quoted market pricts of the various holdings. The managed portfollo also includes forèign currency con¢ract5 which act as a hedge against the effett of currency fluctuatlons wi¢hin the portfolio. The fair value of foreign currency forward concracts within the managed porrfolio ts basÈd on the difference between rhe exchange rate agreed at Ihe inception of the lorward contract and the exchange rate prevailing at che reportin8 date. An analysis of lisd investments by fund is as follows: 2023 2022 Permanent endowment fund Non-permanent endowment fund5 21,284,29J 150,475 21,104,274 134.273 Total endowment funds Restricted fund5 Unrestrictèd fund5 21,434.768 68,701 1.051.117 21.238,547 66,657 1,042,S I S 22.555,586 22.347,719 48
Investment properties All investmen¢ properties are held withln the United Kingdom. The inves¢ment properties are stated ar open market valuation which represents ¢heir fair waluè to the charlty. During the year the trustees carried out a revaluation of the residential rental properties contained within the portfolio, represen¢in8 appro two-third5 of the previous valuation. This resulted in a reYdlLAtion surplus durin8 the yehr of £1.853m. The valuauon of thè lamis and comm4rclal properties is based upon a full profe55ional vvatIon which was carried out at 31 October 2013 by Thomas Stevenson, Chartered Surveyors. The policy is for trustees to review investment propertie5 on an annual basis. This year ¢ru5tees have deterniined ¢hat a valuation of the charity's Commercial proper¢ies. farms and land will bè und•ruken within the next 12 months. The investment properties are assets of the charity's pem)anent endowment fund. 49
The Hospital of God at Greatham Notes to the Financial Statements (continued) Year ended 31 October 2023 17. Total rèturn approach to Investment of perni4nént endowment The chariw s listed investments include ¢he charity's managed endowment fund investment portfollo. Thls portlolio is accountsd for on a ¢otal return basis in accordance with an ordÈr for total re¢urn received Gn I S November 2010 from thè Charlty Commission. Th• movements in the trnst for Investment and the unapplied total rèturn during the year are set out in the table below.. Endowment invéstments Jubjert to total r•turn Trust for Investmènt Unapplled total return Total At 31 October 2022 Gift component ol the permantnt endowment Unappli•d total return 21,610,025 21.610,025 IS23,8711 1523,8711 As J l Octob•r 2022, a* prevlously reported 21,610.025 (523.8711 21,086,154 Prior Year Adlustment, du• to change Sn pollcy (as described below) 11,771,029) 1,771,029 At 31 October 2022 as restat•d 19,838,996 1,247,158 21.086,154 Movements in thè reportlng perlod Invcstment returns- dividends and interest InVtrnent returns- realistd and unrealised gains and110s5esI Addition5 to trust for investment Income repaid to unapplied total return in year Less.. Investment management costs 284.556 284,556 82.012 82,012 1168,4291 1168,429) Total movements in thè reporting period lOre transfers 198.139 198,139 Transfer Irom unapplied total return ta malntain real value ol trust for investment 911,773 1911,773 Net mov•ments In the reporting period 911,773 1713.6341 198,139 At 31 October 2023 Gift component of Ehe pernianent endowment Unappllèd total return 20,750,709 20,750,709 533.524 533.524 Tot at J l October 2023 20,750.769 533,524 21,284,293 so
The Hospital of God at Greatham Notes to the Financial Statements {continLied) Year ended 31 October 2023 Each year the charity makes a ¢ransler from unapplied to¢al return to the trust for endowment to maintain the real value of the trust for Investment. Prior to 31 October 2022. the amount transferred each year was based on a slmple average of the respective changes in the Retail Price5 Indèx and the Consumer Prices Index arising during the relevant period. Following a review of the basi$ for the calcula¢ion of thè transfer required to maintain the real value of the trust for investment. the trustees took the decision to amend this policy sts that the calculation 15 based only on the changè in the Consumèr Prlce Index each year on the grounds that this measure of inflation represents more fairly rhe impact ol inflation on the charity's activities. As this represents a ch2n¥e in policy, a Prior Year Adjvscment has been made to the calculation of the opening values of both the trusc for investmènt and unapplied toral rerurn. The Prior Year Adjustment made to the opening figures is Shown in the above table. This year cho transfer to maintain the real value of the trust for invèstmtnc based on the irKrÈas• in the Consumer Prices Index durin8 the year ended 31 Occober 2023, amounted to £911.773. 18. D•btors 2023 2022 Trade debtor5 PrÈpaid expÈns•s Accrued income and sundry deb¢ors 94,757 13,991 120,955 200,128 123,432 146,480 329,703 470,040 19. Credltors: amounts falling due wlthln one year 2023 2022 Trade creditors Accruals and delerred intome Social security and other taxes Mortgage loan 249,904 184,597 31,636 1,300 358.311 248.120 30.141 467,S57 637.793 20. Crltors. amounts falllng due after more than one y¢ar 2023 2022 Mortgage loan 89,426 90.786 The mortgage loan was iransferred to the charity from the Stockwn Almshouses Charity during the year ended 3 I October 2010. The mortpge loan i% sectsred by a legal charge over the properry at Trinlty Gardens, Stockton on Tees. 51
The Hospital of God at Greatham Notes to the Flnanclal Statements (continued) Year ended 31 October 2023 21. Penslon scheme aimt I {provli•on for Ilabllltles) Penilonx nd slmllar obli8ationi Note 22 At l November 2022 la558tl Decrease in provision during the year 209,000 45,000 At J l Ortober 2023 {ass•t) 254,000 This represent5 the net valuauon, under FRS102. 01 ¢he 3$5tts and liabilities of the Greatham Hospital Penslon Scheme, a defined benefit pension scheme of which the charlty 1$ the 501e sponsoring employèr. Further information abou¢ thi5 scheme and it5 valuation is given in Note 22 below. 22. P•nslons and oth•r post.tmployment b•ntI D¢fin•d contrlbutlon plans The amount reco8nlsed in expenditure as an exp¢n$e in relation to defined eon¢ribu¢ion plans was £43.319 12022.. £47,803). Defined benefit plans The charity opérates and is che sole sponsoring employer of the Greatham Hospital Pension Schemt ("che scheme'l, a definèd benefit pension scheme which provide5 benèfits b$ed on final Salary and lengrh of SeCe on retirement. leaving service or death. The pension 5cherne was closed to new member5 On 14 December 2LTh)5. The last active member left penslonable service in November 2023 and as a result the Scheme is now closed to future befit accrual. The scheme is managed by a board of trustees appointed in part by the charlty and in part from elections by scheme member$. The trustees of the scheme havè responsibilbty lor obtalning valuauons of the fund. adminlstering benefit payment5 and investing the Scheme's assets. The truseS of the scheme delegate some of these functions to their professional adviser5 Whe approprkAte. The scheme exp05e5 the tharity to a number of risk& Invèjtment rlsk-the Scheme holds in¥es¢rnents in as5etclasses. such a5 equities. which have volatile 52
marfcet values, and while Lhese assets are expec to promde real returns over the long-temK the shorc-term volatility can cause additional funding to be required il defitits emerge. Interest rate rlsk - the scheme's liabilities, calculated in actordaAce with the requirements of FRS102. are assessed using market yields on high quality corporate bonds to discount che liabiliue5. As the scheme holds assets such as equityes. the val¢Je of the assets and liabilityes may not move in the same way. Inflatlon rlsk significant prOportn of the benefits under rhe scheme are linked to inflation. Althou the scheme's assets are expected to prtsde a good hedge against inflauon over the long ¢errn. movements over the short-tvm could lead to defici¢s emer&ng. Mortallty riik - in the event that member5 live lonw than a5sumtd, defrcits may ernerle in the scheme. Th• ¥cheme is sublett to the Statutory Fundin8 Objective under the Pensions Act 2004. A valuatlon of the scheme is carried out at Iwt once every three years to deterniine wthether the Statutory Funding Objectlye Is meL As part of the process the employer mu$t a¥ree wth che truste85 of the schemt the contrlbu¢ions to be paid to mett the Statutory Funding Oty'ective. The future contributions requirtd to meti the StatsJ¢ory Funding ObjÉetsv• do not currently iffect the balance set of the sthemÉ in thesè atcounts. 53
The Hospital of God at Greatham Notes to the Financial Statements (continued) Year ended 31 October 2023 The most recent comprehen5i¥e actuari valu2tion of the scheme was carried out as at 31 October 2022. This Yuall0n calcula¢ed an actuarial deficit of £91,000 as at that (late. To eliminate this lunding shortfall the trustees and the scheme jolndy 3grÈéd a recovery plan whereby the charlty make5 additional contribuuons of £48,000 to the scheme each year, with the first payment in November 2022 and the final paymeni in November 2023. Both the payment5 havo now been made. Th¢5¢ Colltribuiions were expecwd w elimina¢e the shortlall by November 2023. The next actuarial valuacion of the 5chemt is due at 31 October 2025. In the event that this valuatlon reveals a larger deficit chan expected, the charity may be required io rnake further contributions above those set out in ihe existing schedule ol contributions. Conversely if the pgsition is be¢¢er than expécted, It 4$ possible that future concrlbutions may be reducéd. As the scheme wa5 open to future accnjal throughou¢ the year ended 31 October 2023, the employer paid contributlons to the Scheme for future setvice benefits. D¢Jring thi5 year the employer paid contributions on gross pensionable salary for active member5 at the rate of 28% until july 2023 and a¢ ¢he rate of 22.7% thereafter. In accordance with thè schedule of contributions, amounting to a total ol £10.095 12022.. 124,6671. Active members were not required io make any contrlbuiion. AS the list remalning active member left penslonable servlce In November 2023. the charity expects ¢0 pay service contribution$ of le55 than £l,IMI to the scheme during the year to 31 Occobtr 2024. The charity administers the scheme and mee¢$ all running Costs of the s¢heme. During the year ended 31 october 2023 Ihe toral ol all such costs amounted to £23,66112022.. £46,2CIJI, excluding the wages and 5alarie5 of Hospital of God management and staff who as515t with che adminis¢ration ol the scherre. There were no plan amendmenu, curtallments or settlements durlng th• period. The following disd95ure5 have been provided by the Scheme actuary ro meec che requlremen¢5 of FRS 102 for the purposes of these accounts. A¢ 31 October 2023 there was a surplu5 in the scheme of £254,000, calculaced in accordarnce with the reqvirements of FRS102 and based gn the a5sumprions se¢ out below. Thi5 compares to a 5urplu5 of I209,OC at the previous review dite. The increase in the surplus over the period 15 prirnarily due to fhe contributions paid by the charlty. The increase in Corpora bond 'eldS over the period has reduced the Yalue placed on the Ibabilities bur this has been offset by a fall in the market value of the schème's assecs. The svrplus 15 recognised as an asset in these accounts at it 15 considered that this surplus will generate a future economic benefiL for the charity in the form of reduced future conrribuEions and the scheme deed allow5 for thè repaymenf of any residual surplus that remains on the termination of the schème. after all liabilities to member5 54
have been fvlty setded. The following disclosures are ryAde in attordance with the requirements of FRSIOI Figures we shovm r¢wnded to the neareJ¢ £l,OCM). The amount recolSed in the Statement of Financial P03i¢ion is a5 follows: Asat 31 October 2023 Amounts r•ca8nlsed In the St•tem•nt of Fln#n¢lal. Poiltlon A5at 31 Octobor 2022 Falr valu• of assets 2,379,000 2.628.0 Present value of funded obligations N•t defin b•n•fit a$8•tl(Il•blllty) I2.125,0) 154.000 {2,419,0) 209.000 55
The Hospital of God at Greatham Notes to the Flnanclal Statements (continued) Year ended 31 October 2023 The falr value of the scheme's inv¢5tment a$sets at 31 October 2023 anaiyyed by m4or asset dass is as fallows.. J l O¢tober 2023 Diversified 8rowth fund 1.327.OC(I Index linw gilts 684.(b) Corporat• bonds 364.CO) Net current a55et5 Total 2.379,000 The change In the fair value of th* scheme's assets over tho year15 as follows.. Asat 3 l Octob¢r 2023 Asat J l Octob•r 2022 Changé In falr value of sch•m¢ 4SWts Filr valut of schem• $•t5 at thè be8lnnln8 of the year Intsrex on as5et5 2,628,000 3,686,000 120,OC 64,0 Charl5 contributi¢)ns pald Lo schemè in year 58,OC¥) 73,0fy) ContrIbuon$ by scheme participrts Benefits pwd by Schemè in year 1171,OCQI (102,OJOI Administration costs Changt due to setdemenu Return on schèm• a55ets le$$ interest 1256,000) 11,093,OCQI Fair value of scheme 9•ts at the end of the year 2,379,000 2.628,000 The attual return on thè scheme's assets during the year was a105$ of £136.OCQ {2022..1055 of £1,029,0)0). 56
The Hospital of God at Greatham Notes to the Financial Statements (continued) Year ended 31 October 2023 The change in the present lue of the scheme's funded defined benefit obligations over the year 15 as foll¢$.. Ch*n8¢ in pr¢s•nt yut of d•finéd b•nefit obllgatlons Asat 31 Octob•r 2023 Asat 3 l October 2022 Defined b¢n¢fit obligatlons of the scheme at the beginning of the year Current service cost 2,419.000 3,839,QOO 32,OCQ Contributions by Scheme parric5pants Pdst sèrvi¢¢ ¢os¢ In¢erest COS¢ 109,OC(J 66,0) Btnèfits paid by 5chèmt in ytar 1171.OQJl (102.0¢))) Change due to se¢¢lemen¢5 xperience tsainlAos$ on defined benefit obli IKJn 82,0 Changes to demographic a55ump¢ions 17.OCQ Changes to financial assumptions 1239,OC(JI 11,515,000 Deflned benefit obllgatlong of th• Jch¢m¢ at the end of the year 2,125,000 2,419,000 The net amount reco8nlsed in the SteMent of Financial Activities is as follows.. Year ended J l October 2023 Net amount recognised in the Statement of FSnanclal Artlvitleg Year ¢nded 31 October 2022 Total incomellcostsl recognised in the year, a5 detailed below Total re-rnea5urewnent gain51llosses} in the ear, as detailed below Charity's con¢ributyons paid to scheme in year Net amount retO8nised in the Statément of Finahclal Artlvltles 4,000 134,0001 {17,OCIJI 323,OC#) 58,OCi) 73,OCIJ 45.000 362.000 57
The Hospital of God at Greatham Notes to the Financial Statements (continued) Year ended 31 October 2023 The income and cosis recognised in the year are as follow Year ended 31 Octobèr 2023 Year ended 31 October 2022 Costsl{Income) recogn15ed In the year Current seryice cos¢ 7.000 32,000 Admlni5tration toscs 109.OC) 66.000 Interest on assers 1120.0001 {64,0001 Past 5trvice cos¢ Settlement cost Total cost(Income} r•cognlJ•d In th¢ (4.000) 34.000 Th• rt-measurement gains and 105se5 recogni5ed in the year arè as follows: R••mt•Jur¢ment loss¢sl(galns) Y•ar ènd•d reco8nlsd In the y•ar 31 October 2023 Lo551(gainl on scheme assets in exces5 of InteresL Year ended 3 l October 1022 256.0fy) 1.093.OCX) Experiencè lo$Se(gains> on liabiliiies Los5851(gainsl from changes to dèmographic assum uons Losse51(gainsl from changes ¢0 finan¢ial tions assum Total re.m*asur•ment losi•il(8ains) reco nised in the ¢ar 82,000 17,OC#) {239.OCQI (1.515,CO)I 17.000 (323.000) 58
The Hospital of God at Greatham Notes to the Financial Statements (continiled) Year ended 31 October 2023 Principal aJ>umptioni The principal assump¢ion$ used ¢0 calcula¢e scheme liabilities in acc¢rdarnce vAth FRSI 02 are as follows: 31 October 2023 J l Octob*r 2022 Dlscount rate 5.55% 4.65% Inflation RPI 3.35% 3.20% Inflation cpi 3.05% 2.80% Sala Increase5 3.35% 3.20% Pen5i0n increases - di5cre¢ionar 1.525% 1.35% Pension increases . CPI max 5% 3.05% 2.70% Pension in¢rèases - RPI max 2.5% 2.50% 2.20% Post re¢lremen¢ mortall¢y S3NA tables wlth CMI 2021 projection5 using a long-term improvement rate of l.SO% S3NA tables wlth CMI 2021 projection5 Using a long-term improvement rate of 1.50% Commutation Member5 are a55umèd to take 20% of cheir pen$lon as cash at retiremen¢ fe expec¢ancy at age 65 of male aged 45 24.1 24.0 fe expectancy ar age 65 of male aged 65 22.5 22.4 fe expectancy at age 65 of female aged 45 26.7 26.6 Life expectancy at age 65 of female aged 65 25.0 24.9 59
The Hospital of God at Greatham Notes to the Financial Statements (continued) Year ended 31 October 2023 23. AD•lys1s of charltablt funds UnreJtrlttd funds Ai l Nov 2022 Gains and losses At 31 Oct 2023 Income Expendlture Transfer5 General fund Fundraising fund Developmeni fund Exiraordinary repair fund 1710,5711 3,370.544 46.640 9,446 13,737.915) 1447,4551 16.562) 57,307 (1,468,090) 49,524 1,871,374 1290,4281 535.440 2,116.386 1.207.443 3,379,990 14,034,905) 87,985 57.307 697,822 R•tr1<t fundi Galns and losses At 3 l Ott 2023 l Nov 2022 In¢omè Expenditure Transfers The Charity of Emma Simpson for Almshouses 1,055,753 38.879 {60,8741 2,044 1.035,802 Endowm•nt funds Gains and losses At 31 Oct 2023 l Nov 2022 Incornè Expenditure Transfers Endowment Fund Jilding Fund Stockton Relief in Need Fui)d 40.819,493 1.260,033 285,201 1156,1461 187,9851 1,965,158 42,825,721 1,260.033 151,556 4,764 110,0001 11.6571 144.663 42.231.082 289,965 (166.146) 187,9851 1.963,501 44,230,417
ln previous years the Building Fund treated in the accounts as being part of the chariry's unrestrfrted lunds. Durlng che year this treatment wa5 remewed. and rc was decided that the Bulldlng Fund should be regarded as part of the charity's endowment fund5 based upon the fact that the primary purpose of the Building Funtj is to hold the net proceeds from the disposal of endowment properries pending the reinves¢ment of these proceeds in the wrcha$e or building of new properties. This redas$ification is rdec¢ed in these accoun includin¥ in any comparatives shown for the previous year end. 61
The Hospital of God at Greatham Notes to the Financial Statements (contj'nued) Year ended 31 October 2023 24. Anajysls of net iJtti b•tw•en funds 2023 Unre5tritt•d Restricted Endowment funds funds funds Tot1 funds Flxtd ass•ts Tangible fixed assets Investments- investmen¢ properries Investments- listed Investments 70,129 811,820 7,359,367 13,301,653 68.701 21,434,708 ,241,316 13.301,053 22.555,S86 ,052,117 .122.246 880.521 42.095.788 44,098.555 Debiors Cash aL bank and In hand Creditor5 due within onè year 1nter.fund balance5 329,703 1,838,764 (454,538) (2,302,929) 329,703 1,038,764 (467,557) (13.019) 155,281 2,147.048 (589,000) 155.281 2,134,629 1.700.910 Tot1 asseti l•ss current Il•bllltlei 533,246 1,035.802 44,230,417 45,799.465 Crtditors.. amounts falling due after more than one year Pension scheme asset {J9.426) 254,000 (89.426> 254,000 Net isets {total fundg) 697,820 1,035,802 44.230.417 4S,964,039 2022 Unrestricted Restrlrted Endowmenc funds funds fund5 Total funds Fixed assetg Tan&ble fixed assets Investments- investment properties InvestM¢5- listed investmenES 60.038 832,636 7,548,069 11,418,250 66,657 21.238.547 8,440,743 11,418,250 22,347,719 1,042,515 62
1,102,553 899,293 40.204,866 42.206.712 Net currtnt ass*ts Debtors Cash at bank and in hand Creditors due thin one year Inter-fund Wances 470.040 1337.105 1612.4911 11207.9781 470.040 2.337,105 1637.7931 125,3021 1 $6,460 1051,518 (13,3241 156.460 2.02&216 2,169.352 Trtal assets leyi curr•nt Ilabllltlos 1.089.229 1,055.753 42,231,082 44,376.064 CredStors- amounts falllng du• after more than one year Provlslons for liabillue5 {90,7861 209,(MXJ 190.786) 209.000 N¢t assets (total funds) 1.207.443 1.055.753 42,231.082 44,494,278 63
The Hospital of God at Greatham Notes to the Financial Statements (continued) Year ended 31 October 2023 25. Trnst•e rnlated party ¢r•nsactlons and Inter•sts Rober¢ Eden, who seThed as trustee during the Jpar, was durlng the year an employer-nominated trustee ol the Grèatham Hospltal Penslon Schema of which the char5ty Is the sponsoring employ•r. Trvstees are rdmbursed for thelr travel on a mlleage basls. Durfng thè year three trustee5 wer• a comblned total of £739 in re$p¢rt of their travelling cost5 (2022.. £470). 26. Going cpn¢•rn The trusthès consider that the charity is a going concern and that thert arè no material uncertain¢ies or events whlch cast doubt upon Its abllity to condnue as a golng concern. In assessing the goin8 concern position of the charity for the year ended 31" October 2023 the trus¢ees have consldered the oU00k and In dolng so looked ar the future operan8 resylts, ¢h fl¢)ws and facllltses available. Bas•d on these facts tht going concern basis has been adopted in tht preparatl¢)n of the flnancial stat¢rnenu. END