ABBOTS BROMLEY HOSPITAL (A charitable incorporated organisation) Registered charity number: 1150207
ACCOUNTS YEAR ENDED 31 MARCH 2025
Dains Audit Ltd Chartered Accountants St Johns Court Wiltell Road Lichfield Staffordshire WS14 9DS
ABBOTS BROMLEY HOSPITAL INDEX TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
| PAGE | |
|---|---|
| Annual Report | 1-3 |
| Independent Examiners Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Accounts | 7-11 |
ABBOTS BROMLEY HOSPITAL ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025
Reference and administrative information
| Trustees: | Mr C J Bagot Jewitt Chairman |
Nominated |
|---|---|---|
| Mrs S M Tonking | Coopted | |
| Mrs C Brown | Nominated | |
| Miss R Chapman | Coopted | |
| Reverend S C Davis | Ex officio | |
| Mrs G Kelly | Coopted | |
| The constitution provides for the | appointment of two nominated, one | ex-officio and up to three |
| co-opted trustees. Nominated trustees serve for four years. Co-opted trustees serve for five. | ||
| The Parish Council of Abbots Bromley and the Trustees of the Bagot | Jewitt Trust as owners | |
| of Blithfield Hall each nominate one trustee. The Vicar of the ecclesiastical parish of | ||
| St Nicholas at Abbots Bromley is the ex officio trustee. If the vicar is unwilling to act, then the | ||
| PCC has power to nominate the | ex officio trustee. | |
| Principal Address: | Claire Collier (Administrator) | |
| Abbots Bromley Hospital Office | ||
| Abbots Bromley Hospital | ||
| Bagot Street | ||
| Abbots Bromley | ||
| Rugeley | ||
| Staffs | ||
| WS15 3BZ | ||
| Charity Number: | 1150207 | |
| Independent Examiner: | Mark Gurney FCCA, DChA | |
| Dains Audit Ltd | ||
| St Johns Court | ||
| Wiltell Road | ||
| Lichfield | ||
| Staffs | ||
| WS14 9DS | ||
| Solicitors: | Anthony Collins Solicitors | |
| 134 Edmund Street | ||
| Birmingham | ||
| B3 2ES |
Page 1
ABBOTS BROMLEY HOSPITAL ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025
Report of the trustees for the year ended 31 March 2025
The trustees present their report along with the financial statements of the charity for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with governing document dated 6 August 2019, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland effective 1 January 2019.
Structure, Governance and Management
Abbots Bromley Hospital was originally founded by the Will of Lambard Bagot in 1702. In August 2019 the charitable company, the sole trustee of the unincorporated charity, registered charity number 242796, was converted to a charitable incorporated organisation (CIO).
By virtue of a vesting agreement dated 7 February 2020, the assets and liabilities were transferred to the CIO.
The trustees met regularly throughout the year to discuss the charity's affairs, including consideration of investment, reserves and risk management policies.
Abbots Bromley Hospital keeps the skill requirements for its Trustee Body under review and in the event that there is a vacancy, the Board seeks nominations from people within the local community who have the necessary skills and interest. The induction process for any newly appointed trustee comprises an initial meeting with the Board of Trustees, at which a pack is provided. This includes a copy of the governing document, a copy of the latest accounts, a copy of the Charity Commission Guidance 'The Essential Trustee' and 'Charities and Public Benefit'.
Risk Review
Abbots Bromley Hospital has examined the major internal and external risks which the Charity faces and confirms that systems have been established to minimise these risks.
Objects and Activities
The Charity is administered by the Administrator, who acts under instructions from the trustees of Abbots Bromley Hospital.
Abbots Bromley Hospital comprises eight almshouses situated in the village of Abbots Bromley. The almshouses are available for occupation by persons in need and of good character resident in any of the parishes of Abbots Bromley, Dunstall, Newborough and Yoxall. If any almshouse is not required by residents of these parishes then the trustees may select suitable residents from other parishes.
After paying the costs of maintaining the property and expenses incidental to the administration of the Charity any surplus is available for the benefit of the Almspeople.
Public Benefit
The trustees of Abbots Bromley Hospital confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit. Residents shall first and foremost be in need and unable to access other accommodation to enable them to stay in the neighbourhood. The trustee is also conscious of its responsibility to carry out repair and appropriate improvement to a Grade II listed building in a prominent position in the centre of Abbots Bromley Conservation Area.
Page 2
ABBOTS BROMLEY HOSPITAL ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 (Continued)
Review of Progress and Achievements
The Almshouses continue to provide permanent, secure and well-maintained homes for those that need them in the village. The Trustees and Clerk ensure the dwellings and gardens remain in a safe and attractive state, as well as supporting residents with their varying needs.
In the course of the year, the Trust completed the legal requirements to become the corporate trustee for the Elizabeth Harland Almshouse Charity, which provides four almshouse properties in the neighbouring village of Colton.
Residents from Colton also attended the annual tea and cake meeting with Trustees in November.
The Trust continues to ensure policies and processes are up to date and reflect best practice for the benefit of both almshouse charities.
Reserves Policy
Charity funds at 31 March 2025 totalled £1,184,458, comprising permanent endowment £940,240, a designated extraordinary repair fund £20,998, a cyclical maintenance fund £57,962 and unrestricted income funds of £165,258.
Investment Policy
The trustees have considered the most appropriate policy for investing funds and have found that specialised unit trusts, designed for charity sector, meet their requirements. The performance of the investments is monitored by the trustees on a regular basis.
Trustees' Responsibilities in Relation to the Financial Statements
Law applicable to charities in England and Wales 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 are required to:
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h select suitable accounting policies and then apply them consistently;
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h observe the methods and principles in the Charities SORP;
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h make judgements and estimates that are reasonable and prudent;
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h state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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h prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees and signed on their behalf by:
C J Bagot Jewitt
18 June 2025
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ABBOTS BROMLEY HOSPITAL
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2025 which are set out on pages 5-11.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a "true and fair view" which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mark Gurney FCCA, DChA of Dains Audit Ltd St John's Court Wiltell Road Lichfield Staffordshire WS14 9DS
18 June 2025
Page 4
ABBOTS BROMLEY HOSPITAL STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025
| Income Maintenance Contributions Receivable Bank Interest Income from Listed Investments Total Income Expenditure Administrator Repairs and Decorations Orbit Lifeline Water Rates Gas and Electricity Insurance T V Licences Sundry Expenses Almshouse Association Subscription Independent Examiners Fees Quinquennial Inspection Loan Charges and Interest Total Net gains/(losses) on investment assets Net Income/(expenditure) Transfer Extraordinary Repair Fund Transfer between funds (note 10) Reconciliation of funds: Fund Balances brought forward Fund Balances carried forward |
Unrestricted Other Total Total Income Fund Funds 2025 2024 £ £ £ £ 46,681 46,681 43,521 43 2,736 2,779 2,589 2,002 2,002 1,963 |
|---|---|
| 48,726 2,736 51,462 48,073 |
|
| 4,004 4,004 3,762 5,012 5,012 10,902 261 261 242 1,555 1,555 1,833 778 778 870 931 931 1,337 23 23 23 463 463 252 353 353 343 1,080 1,080 1,188 - 1,668 2,807 2,807 3,203 |
|
| 17,267 17,267 25,623 |
|
| (2,429) (2,429) 6,495 31,459 307 31,766 28,945 (15,000) 15,000 (8,790) 8,790 157,589 995,103 1,152,692 1,123,747 |
|
| 165,258 1,019,200 1,184,458 1,152,692 |
Page 5
ABBOTS BROMLEY HOSPITAL BALANCE SHEET 31 MARCH 2025
| Notes Fixed Assets Housing Properties 2b and 5 Listed Investments 2c and 6 Current Assets Debtors and Prepayments Cash at Bank and in Hand Current Liabilities Loans falling due within 1 year 7 Creditors Net Current Assets Total Assets less Current Liabilities Loans falling due after more than 1 year 7 Net Assets Capital and Reserves Permanent Endowment 8 Designated Reserves 8 Unrestricted Income Fund |
2025 2024 £ £ £ £ 1,060,000 1,060,000 91,172 78,601 1,151,172 1,138,601 67 462 90,909 79,230 90,976 79,692 9,351 8,980 5,499 4,620 14,850 13,600 76,126 66,092 1,227,298 1,204,693 42,840 52,001 1,184,458 1,152,692 940,240 934,879 78,960 60,224 165,258 157,589 1,184,458 1,152,692 |
2025 2024 £ £ £ £ 1,060,000 1,060,000 91,172 78,601 1,151,172 1,138,601 67 462 90,909 79,230 90,976 79,692 9,351 8,980 5,499 4,620 14,850 13,600 76,126 66,092 1,227,298 1,204,693 42,840 52,001 1,184,458 1,152,692 940,240 934,879 78,960 60,224 165,258 157,589 1,184,458 1,152,692 |
|---|---|---|
| 1,152,692 | ||
| 934,879 60,224 |
||
| 157,589 | ||
| 1,152,692 |
These accounts were approved by the Board of Trustees on 18 June 2025 and signed on their behalf by:
C J Bagot Jewitt
S M Tonking
Page 6
ABBOTS BROMLEY HOSPITAL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
1. Establishment of Abbots Bromley Hospital
Abbots Bromley Hospital is a charitable incorporated organisation (CIO).
The charitable company, the sole trustee of the unincorporated charity, was converted to a CIO in August 2019. By virtue of a vesting agreement dated 7 February 2020 all assets of the original unincorporated charity (Charity no 242796) were transferred to the CIO and the two charities merged.
2. Accounting Policies
(a) Basis of Accounting
The financial statements have been prepared in accordance with Accounting and Reporting by by Charities: Statement of Recommended Practice applicable to charities preparing their accounts accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 01/01/2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The accounts have been prepared on the accruals basis and under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
(b) Housing Properties
Housing Properties are included at their market value with vacant possession as at March 2013. This valuation is regarded as deemed cost on the transfer to FRS102.
(c) Investments
Listed investments are stated at market value.
(d) Cyclical Maintenance Fund
This fund represents amounts set aside for cyclical maintenance to meet costs in excess of budgeted expenditure for any year.
(e) Extraordinary Repairs Fund (ERF)
This fund represents amounts set aside to carry out major repairs to the housing properties.
(f) Permanent Endowment
The permanent endowment represents those funds which must be held permanently by the charity. Income arising on this fund is included as unrestricted income.
(g) Income Funds
The unrestricted income fund comprises those funds which the trustees are free to use in accordance with the charitable objects. Restricted funds may only be spent in accordance with donors wishes.
3. Trustees Remuneration, Expenses and Related Party Transactions
No remuneration directly or indirectly out of the funds of the Charity was paid or payable for the year to any Trustee or to any person or persons known to be connected with any of them. No travelling expenses have been reimbursed during the year (2024-£nil).
4. Taxation
Abbots Bromley Hospital is a registered Charity and is therefore exempt from liability to taxation on its income and capital gains.
Page 7
ABBOTS BROMLEY HOSPITAL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
| 5. Housing Properties Housing Properties at 31.03.24 and 31.03.25 |
2025 2024 £ £ 1,060,000 1,060,000 |
|---|---|
As stated in note 2(b), housing properties are included in the accounts at their current market value with vacant possession. The valuation was carried out by J C Stevenson MRICS of John German, Chartered Surveyors in March 2013. There is no record of the historic cost. This valuation is regarded as deemed cost on the transfer to FRS102.
6. Listed Investments
| Market Value at 1 April 2024 Addition Net unrealised Investment gains/(losses) Market value at 31 March 2025 Investments comprise the following: Endowment Fund: 3,602 COIF Charities Investment Fund income shares Extraordinary Repair Fund 171 M & G Charity Multi Asset Fund accumulation units 7. Loans Due within one year Due after more than 1 year |
2025 2024 £ £ 78,601 72,106 15,000 (2,429) 6,495 |
|---|---|
| 91,172 78,601 |
|
| 70,174 73,603 20,998 4,998 |
|
| 91,172 78,601 |
|
| 2025 2024 £ £ 9,351 8,980 42,840 52,001 |
|
| 52,191 60,981 |
Included within the above is a loan of £26,991 from the Charity Bank, which is secured over the Almshouses. This loan is repayable over 9 years and 7 months, with the final instalment falling due in September 2029.
Interest is variable and is charged at 4.25% over base.
Page 8
ABBOTS BROMLEY HOSPITAL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
8. Other Funds
| 8. Other Funds | ||||
|---|---|---|---|---|
| Endowment | Extraordinary | Cyclical | Total | |
| Fund | Repair Fund | Maintenance | 2025 | |
| Fund | ||||
| £ | £ | £ | £ | |
| Balances at 1 April 2024 | 934,879 | 4,998 | 55,226 | 995,103 |
| Bank Interest Received | 2,736 | 2,736 | ||
| Unrealised Gains on Investment Revaluation | (3,429) | 1,000 | (2,429) | |
| Transfer from Income account | 15,000 | 15,000 | ||
| Transfer between funds (note 10) | 8,790 | 8,790 | ||
| Balances at 31 March 2025 | 940,240 | 20,998 | 57,962 | 1,019,200 |
| Endowment | Extraordinary | Cyclical | Total | |
| Fund | Repair Fund | Maintenance | 2024 | |
| Fund | ||||
| £ | £ | £ | £ | |
| Balances at 1 April 2023 | 917,624 | 4,695 | 52,666 | 974,985 |
| Bank Interest Received | 2,560 | 2,560 | ||
| Unrealised Gains on Investment Revaluation | 6,192 | 303 | 6,495 | |
| Transfer between funds (note 10) | 11,063 | 11,063 | ||
| Balances at 31 March 2024 | 934,879 | 4,998 | 55,226 | 995,103 |
==> picture [50 x 50] intentionally omitted <==
9. The Assets and Liabilities of the Charity are represented by the Funds as detailed below:
| Housing Properties Investments Current Assets Creditors: Due within 1 year Creditors: Due more than 1 year Housing Properties Investments Current Assets Creditors: Due within 1 year Creditors: Due more than 1 year |
Income Endowment Extraordinary Cyclical Total Fund Fund Repair Maintenance 2025 Fund Fund £ £ £ £ £ 173,740 886,260 1,060,000 70,174 20,998 91,172 30,615 2,399 57,962 90,976 (9,697) (5,153) (14,850) (29,400) (13,440) (42,840) |
|---|---|
| 165,258 940,240 20,998 57,962 1,184,458 |
|
| Income Endowment Extraordinary Cyclical Total Fund Fund Repair Maintenance 2024 Fund Fund £ £ £ £ £ 173,740 886,260 1,060,000 73,603 4,998 78,601 22,067 2,399 55,226 79,692 (8,818) (4,782) (13,600) (29,400) (22,601) (52,001) |
|
| 157,589 934,879 4,998 55,226 1,152,692 |
Page 9
ABBOTS BROMLEY HOSPITAL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
10. Remodelling/Refurbishment Project
In March 2013 a contract was signed for the refurbishment/remodelling of seven of the Almshouses to form six larger units.
This project was financed by a grant of £120,000 from the Almshouse Consortium Ltd, a loan of £50,901 from The National Association of Almshouses and a loan of £65,000 from the Charity Bank. The balance of the project was financed from the Charity's own resources including the release of £100,000 from permanent endowment and the grants received from St John's Hospital and Baron Davenport's Charity.
The transfer between funds reflects the capital repayments made during the year.
Page 10
ABBOTS BROMLEY HOSPITAL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
11 Statement of Financial Activities - comparatives
| Income Maintenance Contributions Receivable Bank Interest Income from Listed Investments Total Income Expenditure Administrator Repairs and Decorations Orbit Lifeline Water Rates Gas and Electricity Insurance T V Licence Sundry Expenses Almshouse Association Subscription Quinquennial Inspection Independent Examiners Fees Loan Charges and Interest Total Net gains/(losses) on investment assets Net Income/(expenditure) Transfer between funds (note 10) Reconciliation of funds: Fund Balances brought forward Fund Balances carried forward |
Unrestricted Other Total Income Fund Funds 2024 £ £ £ 43,521 43,521 29 2,560 2,589 1,963 1,963 |
|---|---|
| 45,513 2,560 48,073 |
|
| 3,762 3,762 10,902 10,902 242 242 1,833 1,833 870 870 1,337 1,337 23 23 252 252 343 343 1,668 1,668 1,188 1,188 3,203 3,203 |
|
| 25,623 25,623 |
|
| 6,495 6,495 19,890 9,055 28,945 (11,063) 11,063 148,762 974,985 1,123,747 |
|
| 157,589 995,103 1,152,692 |
Page 11