Friends of St Cross Hospital Winchester Annual Report and Financial Statements for the year ended 31 December 2021
Unaudited Annual Report and Financial Statements
For the year ended 31 December 2021
Friends of St Cross Hospital Winchester Annual Report and Financial Statements for the year ended 31 December 2021
Charity No. 1143173
Index
| Report of the Trustees |
1 | - | 4 | |
|---|---|---|---|---|
| Report of the Independent Examiner | 5 | - | 6 | |
| Accounting policies | 7 | - | 8 | |
| Statement of fnancial |
activities | 9 | ||
| Balance sheet |
10 | |||
| Notes to the fnancial statements |
11- | 1 2 |
1
Report of the Trustees
The Trustees present their report and the financial statements of the Charity for the period ended 31 December 2021
The Hospital of St Cross
Described by Simon Jenkins as “England’s oldest and most perfect almshouse” the Hospital continues to provide charitable support and a home to 25 Brothers. The complex of buildings comprises a fine Norman Church, the accommodation wing, and the halls and supporting rooms, all set in tranquil gardens.
The Hospital is famous for its unique and ancient tradition of the Wayfarer’s Dole. All visitors can receive a drink of beer and some bread reflecting ancient times when travelling pilgrims and merchants received this sustenance when they passed by.
The Hospital is open to visitors 363 days of the year. In the summertime refreshments are available in the Hundred Men’s Hall, on the site where the “hundred men” were fed each day.
Reference and administrative details
Charity registration number 1143173
Address
c/o Porter's Lodge, Hospital of St Cross, Winchester, SO23 9SD
Trustees
Susan Woodward John Pringle Richard Chisnell Pip Billington Gillian Rushton Robin Goater Jonathan Sleath Jonathan Cooke Clare MacDonnell Fiona Goodman Felicity Pennycook
Bankers
Co-Operative Bank plc CCLA Investment Management Limited
Independent examiner Mr Keith Dunt FCA
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Report of the Trustees
Structure, governance and management
Governing document
The Charity is governed by its Constitution.
Trustees
In accordance with the Constitution new Trustees may be appointed from the membership. Nominations proposed and seconded by members must be received by the Trustees at least fourteen days before the date of the Annual General Meeting. Elections take into account personal competence, specialist skills and local availability. Trustees serve for a term of three years after which period they are eligible for re- election. The Constitution specifies that two Trustees must also be Trustees of the Hospital of St Cross.
Trustee training
New Trustees are inducted into the working of the Charity and the Hospital of St Cross by other Trustees, the Master of St Cross and the Clerk to the Trustees of the Hospital.
Organisational management
The Trustees meet as a Board at least four times a year to determine the general policy of the Charity and review its overall management and control, for which they are legally responsible. The Board delegates to three committees, the Marketing Committee, the Finance and Administration Committee and the Nominations Committee, the detailed running of the Charity. The part-time Administrator and the volunteer Treasurer manage the day-to-day administration of the membership and finance.
Organisational relationship
The Charity works closely with the Trustees and management of the Hospital of St Cross.
Risk Management
The Trustees have examined the principal areas of risk of the Charity’s operations and considered the risks faced in each area. In the opinion of the Trustees the Charity has established resources and review systems which, under normal circumstances, should allow these risks to be mitigated to an acceptable level in its day-to-day operations.
Objects
The Charity’s objects are:
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i. to preserve for the benefit of the public the historical, architectural and constructional heritage of the Hospital, by the provision of funding to maintain and improve the buildings and grounds within the Hospital precinct.
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ii. for the public benefit to advance education in the historical, architectural and constructional heritage of the Hospital, in particular but not exclusively, by the provision of lectures, visits and open days.
The principal means by which the Charity aims to achieve these objectives is by soliciting memberships in order to raise funds for preservation and maintenance, and organising events to advance knowledge and appreciation of the Hospital of St Cross.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities.
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Report of the Trustees
Achievements
During the year a total of 40 new Friends Memberships were added. However, deaths and non-renewals totalled 33 so that there was a net gain of 7 memberships. This brought the total number of Memberships at the end of the year to 462 and individual Friends to 709.
The COVID pandemic restrictions severely impacted our activities and after our Annual New Year Reception, two lunches in the Hundred Men’s Hall and our Annual Lecture, all events that did take place were on Zoom. The St George’s Day Dinner, the Summer Party and all Outings were cancelled. The AGM was finally held in November on Zoom but sadly the other activities of the Friends’ Day, a talk, tea and Evensong, were not held. Later in the year the first two Lectures of a series of five were held on Zoom.
Communication with our Friends was maintained through our monthly eBulletins and monthly Zoom Coffee or Tea meetings. Also more use of Social Media ensured that news about the Hospital and community happenings was available to Friends.
The Hospital grounds were closed for most of the year to ensure the safety of the resident Brothers.
A grant of £17,000 in 2020 was made to the Hospital. This was to fund a major refurbishment of the Hundred Men’s Hall. This was completed in early 2021 in time for the Tea Room to open when access to the Hospital is permitted. In 2021 a grant was made to the Hospital of £17,000 to support the access works below the Beaufort tower which was completed in March 2022.
During the year two new Trustees joined the Friends Board bringing the total to 11 Trustees The Board together with the part-time Administrator and a Brother’s representative met quarterly during the year.
The Marketing and Finance and Administration Committees, met at least quarterly to take forward the regular management of the Charity. The Nominations Committee did not meet in 2021.
Future Plans
In the hope that pandemic restrictions would be lifted during the year an events programme similar to that of previous years was planned for 2021. We recognised that some events would have to be on-line, at least in the early part of the year, and made provision for that.
With the Hospital now open again to visitors recruitment of new Friends will continue with local residents and visitors to the Hospital and Companies keen to support local institutions our primary targets.
Financial Review
The year and associated financial outcome was again heavily influenced by the impact of the Covid pandemic. Despite this the Charity was able to generate an in year surplus of £13,284 (before grants) albeit still well below the much stronger position achieved pre pandemic in 2019 and slightly below 2020 (which had a few months before Covid restrictions impacted).
Total income was marginally lower at £25,991 (2020 £26,599).
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We were able to generate higher levels of membership income which encouragingly included many renewals of longer term memberships which expired last year (of which £4,760 has been deferred to later years). The biggest change (reduction) related to corporate sponsorships which are proving increasingly challenging to find however the University has agreed to continue its support.
Again our main fundraising events such as the summer party was not possible but increasing use of new technology allowed online events to expand allowing events income to expand to £4,146 (2020 £2,817).
During the brief reduction in Covid restrictions we were able to arrange two 10[th] anniversary celebration events. These, together with street based membership drives allowed us to increase membership income.
A grant was made to the Hospital of £17,000 to support the access works below the Beaufort tower which were completed in March 2022.
Excluding grants we made an operating surplus of £13,284. The net position after the £17,000 grant was a reported loss of £3,716. This leaves balances carried forward of £43,549 and maintains a strong position to continue supporting the hospital in years to come. Plans are well developed for 2022 and beyond which will hopefully take full advantage of the changes to Covid restrictions.
Investment and reserves policy
Investment Policy
Funds surplus to current requirements are transferred to the CCLA Charities Deposit Fund to benefit from a higher rate of interest.
Allocation of Funds and Reserves policy
Funds from net incoming resources each year will be allocated by the Board of Trustees to projects identified by the Trustees of the Hospital. A proportion of the net income may be retained as a reserve against major projects or emergency requests from the Hospital.
Trustees' responsibilities for the financial statements
Charity law in the United Kingdom requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the Charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the Trustees should follow best practice and:
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select suitable accounting policies and then apply them consistently
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make judgements and estimates that are reasonable and prudent
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state whether applicable accounting policies and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity and which enable them to ascertain the financial position of the Charity and to ensure that the
financial statements comply with applicable law. They are also responsible for safeguarding the assets of the Charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees confirm that they have followed these charity law requirements in the year under consideration.
ON BEHALF OF THE TRUSTEES
John Pringle Chairman
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Independent Examiner’s Report to the Trustees of Friends of St Cross Hospital Winchester
I report on the financial statements of Friends of St Cross Hospital Winchester for the year ended 31 December 2021, which are set out on pages 7-12.
Respective responsibilities of Trustees and Examiner
The Charity’s Trustees are responsible for the preparation of the financial statements. The Charity’s Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.
It is my responsibility to:
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examine the financial statements under section 145 of the 2011 Act;
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follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
This report, including my statement, have been prepared for and only for the Charity’s Trustees as a body. My work has been undertaken so that I might state to the Charity’s Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees as a body for my examination work, for this report, or for the statements I have made.
Basis of Independent Examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a 'true and fair' view and the report is limited to those matters set out in the statement below.
Independent Examiner's statement
In connection with my examination, which is complete, no matters have come to my attention which give me reasonable cause to believe that in any material respect:
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accounting records were not kept in respect of Friends of St Cross Hospital Winchester in accordance with section 130 of the 2011 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial
statements give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
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Independent Examiner’s Report to the Trustees of Friends of St Cross Hospital Winchester
I have no concerns and have come across no other matters in connection with the examination to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Mr Keith Dunt FCA
Date:31/05/2021
Principal accounting policies
Basis of preparation
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Friends of St Cross Hospital Winchester meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The principal accounting policies are set out below.
Going concern
The financial statements have been prepared on the basis that the charity is a going concern. The Trustees consider that there are no material uncertainties on the charity’s ability to continue its activities for the foreseeable future.
Income
Subscriptions
Annual subscriptions are recognised in full in the year in which they are received.
Term subscriptions of 5 and 10 years are amortised over the relevant period with a full year recognised in the year of receipt.
Life subscriptions are amortised over a period of 15 years with a full year recognised in the year of receipt. Gift Aid income tax recoveries are recognised in the year in which they are claimed.
Other voluntary income
Donations and other revenues are recognised in full in the year of receipt. Sponsorship income is recognised in the year in which the sponsored event(s) takes place.
Investment income
Interest and other investment income is accounted for when received.
Resources expended
Costs of Charitable activities include support costs associated with the management of the Charity.
Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulations and good practice.
Grants payable are recognised in the balance sheet as a liability once the grant has been notified to the recipient and is unconditional.
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Principal accounting policies
Debtors
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors
Creditors are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amounts of the settlement can be estimated reliably. Creditors are recognised at the amount that the trust anticipates it will pay to settle the debt or the amount is has received as advanced payments for goods or services it must provide.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the trust and which have not been designated for other purposes.
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Statement of financial activities
| Note | Unrestricted | Unrestricted | |
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Incoming resources | |||
| Voluntary income | 1 | 20,639 | 22,053 |
| Activities for generating funds | 2 | 5,346 | 4,367 |
| Investment income | 3 | 6 | 179 |
| -------------------------------- | ----------------------------------------------- | ||
| Total incoming resources | 25,991 | 26,599 | |
| -------------------------------- | ----------------------------------------------- | ||
| --------------- | |||
| Resources expended | |||
| Costs of generating funds: | |||
| Costs of fund raising events | 2,505 | 650 | |
| Charitable activities: | |||
| Grants to the Hospital of St Cross | 17,000 | 25,000 | |
| Support costs | 4 | 10,202 | 8,050 |
| -------------------------------- | ----------------------------------------------- | ||
| Total resources expended | 29,707 | 33,700 | |
| -------------------------------- | ----------------------------------------------- | ||
| --------------- | |||
| Net incoming resources for the year | (3,716) | (7,101) | |
| Balance brought forward | 47,265 | 54,366 | |
| -------------------------------- | ----------------------------------------------- | ||
| Balance carried forward | 43,549 | 47,265 | |
| =========== | ============== |
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Balance sheet
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Investments | 5 | 43,60 | 53,600 |
| ------------------------------------ | ----------------------------------------------- | ||
| Current assets | |||
| Debtors | 6 | 2,917 | 1,227 |
| Cash at bank and in hand | 14,532 | 9,505 | |
| Current liabilities | |||
| Creditors | (17,500) | (17,067) | |
| ------------------------------------ | ----------------------------------------------- | ||
| Net current liabilities | 51 | (6,335) | |
| ------------------------------------ | ----------------------------------------------- | ||
| ----------- | |||
| Total assets less current liabilities | 43,54 | 47,265 | |
| ============== ============= |
|||
| ====== | ======= | ||
| Representing: | |||
| Unrestricted funds | |||
| =========================== |
The financial statements were approved by the Board of Trustees on 14[th] April 2022 subject to comments from Independent Examination
Robin Goater - Treasurer
The accompanying accounting policies and notes form part of these financial statements.
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Notes to the financial statements
Voluntary income
2
| Voluntary income | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Subscriptions | 14,359 | 13,999 |
| Gift Aid recoveries | 3,019 | 3,127 |
| Donations | 1,619 | 1,885 |
| Sponsorship | 1,642 | 3,042 |
| --------------------------------- | ----------------------------------------------- | |
| 20,639 | 22,053 | |
| =================== | ============= | |
| Activities for generating funds | ||
| 2021 | 2020 | |
| £ | £ | |
| Events | 4,146 | 2,817 |
| Advertising | 1,200 | 1,550 |
| --------------------------------- | ----------------------------------------------- | |
| 5,346 | 4,367 | |
| =================== | ============== | |
| Investment income | ||
| 2021 | 2020 | |
| £ | £ | |
| Interest on bank deposits | 6 | 179 |
| =================== | ============= | |
| Support costs | ||
| 2021 | 2020 | |
| £ | £ | |
| Printing, postage, stationery and telephone | 3,066 | 1,863 |
| IT costs | 588 | 296 |
| Professional fees | 6,305 | 5,651 |
| Insurance | 243 | 240 |
| Governance costs | - | - |
| ----------------------------------- | ----------------------------------------------- | |
| 10,202 | 8,050 | |
| ==================== | ============= |
The Charity has no employees. The Trustees received reimbursement of expenses totalling £nil (2020: £nil).
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Investments
£
| £ | |
|---|---|
| COIF Charities Deposit Fund | |
| At 1 January 2020 | 53,600 |
| Transfer of funds | (10,000) |
| ----------------------------------- | |
| At 31 December 2020 | 43,600 |
| ==================== |
Debtors
| Debtors | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Sponsorship due | 1,500 | |
| Q4 Gift aid claimed | 1,417 | 1,227 |
| ----------------------------------- | ----------------------------------------------- | |
| 2,917 | 1,227 | |
| ==================== | ============= |
Deferred income
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| At 1 January 2021 | 17,067 | 21,438 |
| Resources deferred during the year | 4,760 | |
| Amounts released from previous years | (4,327) | |
| ----------------------------------- | ----------------------------------------------- | |
| Deferred income at 31 December 2021 | 17,500 | 17,067 |
| ==================== | ============= | |
| ======= |
Related parties
There have been no related party transactions during the year (2020: £nil).
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