Unaudited Annual Report and Financial Statements
For the year ended 31 December 2023
Charity No. 1143173
Index
| Report of the Trustees | 1- 4 |
|---|---|
| Report of the Independent Examiner | 5- 6 |
| Accounting policies | 7- 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11-12 |
1
Report of the Trustees
The Trustees present their report and the financial statements of the Charity for the period ended 31 December 2023
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 for up 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 JohnPringle(Chair) Pip Billington Stephen Shuttleworth Gillian Rushton Robin Goater Jonathan Sleath Jonathan Cooke Clare MacDonnell Fiona Goodman Felicity Pennycook Marion Carr Lesley Loughridge
Bankers
Co-Operative Bank plc CCLA Investment Management Limited
Independent examiner
Data Developments
2
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 reelection. 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 and other subjects.
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.
Friends of St Cross Hospital Winchester
Annual Report and Financial Statements for the year ended 31 December 2023
3
Report of the Trustees
Achievements
During the year a total of 33 new Friends Memberships were added. However, deaths and nonrenewals totalled 46 so that there was a net loss of 13 memberships. This brought the total number of Memberships at the end of the year to 511 and individual Friends to 771.
During 20023 fifteen events were organised, including the ever popular Summer Party and five lunches. We continued to seek ways to benefit our Friends and encourage new memberships.
Communication with our Friends was maintained through our annual reports and monthly eBulletins. Social Media ensured that news about the Hospital and community happenings was available to Friends.
A grant corresponding to the surplus achieved in 2022 of £17,000 was made to the Hospital. This was a further contribution to fund the installation of a stair lift between the Old Kitchen and the passage to the Brethren’s Hall. It is expected this will be completed in February 2024.
During the year two new Trustee joined the Friends Board bringing the total to thirteen. 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 2023.
Future Plans
We will continue to seek new memberships and promote our activities, keeping in touch with our Friends with regular monthly communications.
Together with the Hospital initial ideas have been discussed for celebrating the 900[th] anniversary of the founding of the Hospital in 2032.
To secure smooth succession we continue to seek new Trustees to take forward the work of your charity. If you would like to be involved please contact the Chairman.
Financial Review
2023 saw a second year of consolidated transition from the two years (2020 and 2021) which were dominated by Covid restrictions which had restricted our ability to organise events for members and our ability to fundraise.
We enjoyed many traditional events including our main fundraising Summer party. We also maintained activities developed during Covid restrictions of more lectures and membership drives. These led to a further highly successful year financially. We generated a surplus before grants of £24,722 this was above the £22,705 of 2022. The major difference being due to extra investment income linked to increased interest rates.
Total income rose to £42,744 (2022 £40,987) with income remaining strong across all areas including membership and events and much higher investment income (extra £3,373).
A grant of £17,000 was made to the Hospital towards the cost of a stair lift to facilitate access to the Brethren’s Hall.
Excluding grants, we made an operating surplus of £24,722 (2022 £22,705). The net position after the £17,000 grant was a reported net surplus of £7,722. This leaves balances carried forward of £58,976 and maintains a strong position to continue supporting the hospital in 2024 and in years to come not least as plans develop to mark the 900th anniversary of the Hospital in 2032. Plans are well developed for 2024 and beyond which gives optimism for strong finances in forthcoming years.
Friends of St Cross Hospital Winchester
Annual Report and Financial Statements for the year ended 31 December 2023 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
Friends of St Cross Hospital Winchester
Annual Report and Financial Statements for the year ended 31 December 2023
5
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 2023, 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.
Friends of St Cross Hospital Winchester Annual Report and Financial Statements for the year ended 31 December 2023
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.
Stephen Hendy Data Developments Date:26/04/2024
Friends of St Cross Hospital Winchester Annual Report and Financial Statements for the year ended 31 December 2023
7
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 accounted for on a calendar year basis. Amounts relating to the next calendar are carried forward as deferred income.
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. 8
Friends of St Cross Hospital Winchester Annual Report and Financial Statements for the year ended 31 December 2023
8
Statement of financial activities
| Note | Unrestricted funds | Unrestricted funds | |
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Incoming resources | |||
| Voluntary income | 1 | 21,235 | 21,405 |
| Activities for generating funds | 2 | 17,957 | 18,903 |
| Investment income | 3 | 3,552 | 179 |
| Grants received | - | 500 | |
| ----------------------------------------------- | ----------------------------------------------- | ||
| Total incoming resources | 42,744 | 40,987 | |
| ----------------------------------------------- | ----------------------------------------------- | ||
| Resources expended | |||
| Costs of generating funds: | |||
| Costs of fund raising events | 6,958 | 7,016 | |
| Charitable activities: | |||
| Grants to the Hospital of St Cross | 17,000 | 15,000 | |
| Support costs | 4 | 11,064 | 11,266 |
| ----------------------------------------------- | ----------------------------------------------- | ||
| Total resources expended | 35,022 | 33,282 | |
| ----------------------------------------------- | ----------------------------------------------- | ||
| Net incoming resources for the year | 7,722 | 7,705 | |
| Balance brought forward | 51,254 | 43,549 | |
| ----------------------------------------------- | ----------------------------------------------- | ||
| Balance carried forward | 58,976 | 51,254 | |
| ==================== | ==================== |
Friends of St Cross Hospital Winchester Annual Report and Financial Statements for the year ended 31 December 2023
9
Balance sheet
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Investments | 5 | 68,152 | 65,600 |
| ----------------------------------------------- | ----------------------------------------------- | ||
| Current assets | |||
| Debtors | 6 | 1,493 | 996 |
| Cash at bank and in hand | 4,280 | 2,578 | |
| Current liabilities | |||
| Creditors | 7 | (250) | (1,500) |
| Deferred income | 8 | (14,699) | (16,420) |
| ----------------------------------------------- | ----------------------------------------------- | ||
| Net current liabilities | ( 9,176) | (14,346) | |
| ----------------------------------------------- | ----------------------------------------------- | ||
| Total assets less current liabilities | 58,976 | 51,254 | |
| ==================== | ==================== | ||
| Representing: | |||
| Unrestricted funds | 58,976 | 51,254 | |
| ==================== | ==================== |
The financial statements were approved by the Board of Trustees on 12[th] April 2024
Robin Goater - Treasurer
The accompanying accounting policies and notes form part of these financial statements.
Friends of St Cross Hospital Winchester Annual Report and Financial Statements for the year ended 31 December 2023
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Notes to the financial statements
Voluntary income
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Subscriptions | 15,125 | 15,161 |
| Gift Aid recoveries | 3,097 | 3,097 |
| Donations | 1,513 | 1,647 |
| Sponsorship | 1,500 | 1,500 |
| --------------------------------- | ----------------------------------------------- | |
| 21,235 | 21,405 | |
| =================== | =================== | |
| Activities for generating funds | ||
| 2023 | 2022 | |
| £ | £ | |
| Events | 17,557 | 17,988 |
| Advertising | 400 | 915 |
| --------------------------------- | ----------------------------------------------- | |
| 17,957 | 18,903 | |
| =================== | =================== | |
| Investment income | ||
| 2023 | 2022 | |
| £ | £ | |
| Interest on bank deposits | 3,552 | 179 |
| =================== | ==================== | |
| Support costs | ||
| 2023 | 2022 | |
| £ | £ | |
| Printing, postage, stationery etc | 3,121 | 3,601 |
| IT costs | 836 | 1,005 |
| Professional fees | 6,300 | 6,412 |
| Insurance | 234 | 248 |
| Training | 323 | |
| Governance costs (independent examination) | 250 | - |
| ----------------------------------- | ----------------------------------------------- | |
| 11,064 | 11,266 | |
| ==================== | ==================== |
The Charity has no employees. The Trustees received reimbursement of expenses totalling £nil (2022: £nil).
Friends of St Cross Hospital Winchester Annual Report and Financial Statements for the year ended 31 December 2023
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| Investments | ||
|---|---|---|
| £ | ||
| COIF Charities Deposit Fund | ||
| At 1 January 2022 | 65,600 | |
| Interest received | 3,552 | |
| Net transfer of funds | (1,000) | |
| ----------------------------------- | ||
| At 31 December 2023 | 68,152 | |
| ==================== | ||
| Debtors | ||
| 2023 | 2022 | |
| £ | £ | |
| Gift aid claimed | 1,493 | 996 |
| ----------------------------------- | ----------------------------------------------- | |
| 1,493 | 996 | |
| ==================== | ==================== | |
| Creditors | 2023 | 2022 |
| £ | £ | |
| Independent Examination | 250 | - |
| Tickets sold in advance | - | 1500 |
| Deferred income | ||
| 2023 | 2022 | |
| £ | £ | |
| At 1 January | 16,420 | 17,500 |
| Resources deferred during the year | 2,577 | 3,054 |
| Amounts released from previous years | (4,298) | (4,134) |
| ----------------------------------- | ----------------------------------------------- | |
| Deferred income at 31 December | 14,699 | 16,420 |
| ==================== | ==================== |
Related parties
There have been no related party transactions during the year (2022: £nil).
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