Charity registration number 1154540 Company registration number CE001362 (England and Wales) WELLS COMMUNITY HOSPITAL TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
WELLS COMMUNITY HOSPITAL TRUST LEGAL AND ADMINISTRATIVE INFORMATION Truslees Ms R Myers Dr C Collins Mr S Parkes DrDAJlnce DrSRGShaw MrTFHow Rev S Wood Ms L Reynolds (Appointed 16 February 2024) Charlty number 1154540 Company number CE001362 Prlnclpal address Mill Road W611s-next-the-Sea Norfolk NR23 1RF Reglstered office Mill Road Wells-next-the-sea Norfolk NR23 1 RF Independent examlner Mapus- Smith and Lemmon LLP 48 King Street Kings Lynn England PE30 1HE Bankor8 Barclay5 Bank PLC 17 Market Place Fakenham Norfolk NR219BE NaMest PLC Market Place and Bridge Stre8t Corner Fakenham NR219BA Sollcltors Hansells 13 The Close Nofwich Norfolk NR14DS
WELLS COMMUNITY HOSPITAL TRUST CONTENTS Page Chairman's statement Trustees, report Independent examinerfs report Statement of financial activities Balance sheet Not8S to the flnanclal statements 9-24
WELLS COMMUNITY HOSPITAL TRUST CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 Tha past year has seen the trust consolidate the developments made in 2022 to enhance the way the Wells Community Hospital Trust is working to support the Coastal Community of North and West Norfolk live happier, healthier and sustainable lives. The ongoing impact of the rising cost of living across 2023 has continued to have a negative effect on the coastal community we setve with an increasing need for support with physical and mental health. The trust through the project Coastal Health and Wellbeing has continued lo deliver the Coastal Supemiarket, affordable food hub as part of the Nourishing Norfolk neork, expanding to cover 7 venues across North and West Norfolk in 2023. The mobile shop pops up in town halls and village halls and we now have a static shop in Holl and Wells N8xI the Sea opening across the week to allow our coastal community to have access to affordable food, free hygiene bank, fresh fruit and vegetables and affordable household products. Across 2023 the work done by the trust continued to support the community to avoid health or wellbeing crisis. We continue to provide exercise classes, bereavement groups, art and writing for wellness, and the community garden. We have developed our support services to provide Information, Advice and Guidance to service users who need support with accessing wider services. We run wellbeing groups lo support with menlal health including our walking for wellness and nurture and natter gardening group. In 2023 we started a garden-based Stay and Play and Family Hub to provide a service for households with young children. This is open at the same time as our affordable food hub giving children and their families access to nutritious, affordable food. We have also started to develop a service to support economically inactive back to work by providing volunteer training opportunities to long term unemployed and adults with additional needs to build experience, confidence and support them with applications, CV writing and intervlew techniques, This reduces anxiety and impact on mental health linked to lack of confidence and ultimately increases income allowing people to be in a better position to live more healthily and happily. We continu8 to host several partner organisations to support the wider health needs of our community.. Mind Norfolk and Waveney Pandora- Domestlc abuse support NCC Adult learning- Cooking, Multiply and IT skills. Hear for Norfolk- Audlology services. W8 are a community hub providing crisis support In partnershlp wlth the Trussel Trust Food Bank and through our team of volunteers who provide support around th8 community with shopping, prescription deliveries, food bank deliveries and other small tasks that help people be ind8P8nd8nt for longer in their hom88. Fundraisin Throughout the year we have run fundraising events and activities locally including Pop Up Charity shops and a Family Fun Day and Dog show. We also rely on successfully applying for grants to allow us to continue providing subsidised and free seNices to our local community. We are rellant on volunteers to support both our fundraising initiatlV8s and the deliv8ry of our Community and affordable food hub projects, our community garden and the Stay and Play. Without these incr8dibl8 P80ple giving us their time and experience we couldn't function as an organisation and I would like to, on behalf of the board. formally recognise th8 dedication and energy of the many volunteers who sUPPOrt us in so many ways and thank them for their dedication to our initiatives. The local community's 5UPPOrt is greal and in addition to this I would like to publicly acknowledge the support r8C81V8d in th8 form of grants from organisations that have put their faith in the projects and d@velopmants we have undertaken over the last year.
WELLS COMMUNITY HOSPITAL TRUST CHAIRMAN'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Wells United Charilies The Audrey Earfe Trust Norfolk Community Foundation Egm8r8 Community Fund North Norfolk District Council. DrSRGShaw Chalrman Date: 24(10[gi
WELLS COMMUNITY HOSPITAL TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Tha trustees pr8s8nt their annual report and financial statements for the year ended 31 March 2024. The financial stalements have been prepared In accordance wlth the accounting pollcies set out In nole 1 to the financial stat8m8nls and comply with th8 charity's govarning documant, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recomm8nded Practice applicabl8 to charities preparing their accounts in accordance with the Financlal Reporting Standard applicab18 in the UK and Republic of Ireland IFRS 102) (6ffective 1 January 2019}" Objactlvos and acllvltles The charity's works are lo improve and maintain the Health and Wellbeing of our coastal community. The Trust owns and runs out of the old cottage hospital. Public benefit Th8 trustees consider that Ihe charity's objectives of providing health and social care facilities in the North Norfolk Area and its current activities directly meet the Charity Commission's public benefit requirements. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achlavements and performance Signific8nt 8Ctivities and achievements ag8inst objectives Achlevements and performance durlng the year include the following.. Development of the Community Hub through the Coastal Health and Wellbeing Outreach programme. Development of the Coastal Community Supermarket. Hosting of Renal services holiday dialysls. Hostlng of Cycllng Paramedlcs, East of England Ambulance service provldlng a vltal lifellne for many. Provision of an afft)rdable social café. Facilitating Trussell Trust Food Bank in Wells. Developed Community Garden to provid8 acc8SS to gardening, grow vegetables for the local community and the supermarket. Financial review During the year to 31 March 2024, the trustees have continued to manage the finances to support the activities of the Trust and to maintain reserves of £181,379 in cash and deposits at the bank. Overall income for the year increased by 30 % compared to that for 2023. Total expenses increased to £334,759 from £290,706, the bulk of the Costs relate to staff costs and the operation of the community supermarket. Al the year end, the charity had total funds of £710,11712023.' £708,057). Unrestrlcted serveS were £225,567 (2023: £227,422), restricted reserves were £71,259 (2023.. £64,308) and Endowment funds were £413,291 {2023.' £416,327). Reserves policy It is the trustees, intention to build up free reserves (unrestricted current assets less liabilities) to the equivalent of six monlhs operating expenditure which amounts to approximately £165,000. At the year end the Trust had free reserves of £125,766 (2023.. £121,388).
WELLS COMMUNITY HOSPITAL TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Major risks The trustees are aware of the recommendation of the Charity Commission that the major risks to which the charity is exposed should be reviewed and systems established lo mitigate those risks. Whilst health and safely risks are regularly reviewed the trustees recognise that a key risk facing the charity is in relation lo the hospital's financial viability. The Irustees are monitoring the position carefully and a full risk assessment covering all financial and gov8rnanc8 issues will be carried out during the current financial period. Plans for future perlods We will continue to strengthen our partnerships, collaborating to ensure we provide effective and relevant services to the population we serve. We will strive to maximise the usage of the rooms and facilities at th8 Old Cottag8 Hospital to facilitate a range of health and wellbeing services. W8 will broaden the reach of our Coastsl Community Supermarket by Increasing the number of venues. We will broaden the reach of our health and wellbeing services through our Coastal Community Supermarket venues. We will build and strength8n our volunteer base to support our work in our community. Structurep governance and management Wells Community Hospital Trust was registered as a Charitable Incorporated Organisation (CIO) on 11 November 2013, No 1154540 succeeding Wells Community Hospital {WCHTI (registered charity 1115979). On 1 April 2014 the assels, liabilities and operations of Wells Community Hospital were transferred to the CIO. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the dale of signature of the financial statements were: Ms R Myers Dr C Collins Mrs K Knight Mr S Parkes DrDAJln¢e DrSRGShaw MrTFHow Rev S Wood Ms L Reynolds (Resigned 18 August 2023) (Appointed 16 February 20241 Recniltment and appointment of tnistees The number of trustees shall not be less than three, nor more than e1ve in number. If the number falls below the minimum, the fefnaining trustee or trustees may act only to call a m&eting of the Iruslees or appoint a new trustee. The trustees may not appoint any person as a trustee if, as a result, the number of trustees would exceed the maximum. Members of the trustees shall be persons who through occupation, employment or otherwise have special knowledge of the area of benefit or who are otherwise able. by virtue of their personal or professional qualifications. to conlribule to the pursuits of the objects of the charity. All new trustees will be provided with= The goveming documenl of the Charity The latest financial statements of the charity Details of the Charity Commission guidance notes The Essential Trustee you need to do" "What you need to know. What In addition, the trustees are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.
WELLS COMMUNITY HOSPITAL TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Organisational structure The Charity has been administered by the Board of Trustees who sel out the general policy of the Charity and meet at least four limes a year. There is one sub-committee being Finance. The trustees, r8POrt was approved by the Board of Truslees. DrSRGShaw -15110(21 Dat8..
WELLS COMMUNITY HOSPITAL TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WELLS COMMUNITY HOSPITAL TRUST I report to Ihe trustees on my examination of the financial statamants of Wells Community Hospitsl Trust (the charity) for the year ended 31 March 2024. Responslbllllles and basls of report As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity are nol required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (th8 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(51(b) of the 2011 Act. Independent examlnerfs statement Since the charity'5 gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confim that l am qualified lo undertake the examination because l am a member of the Institute of Chartered Accountants In England and Wales, which is one of the listed bodies, I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act. or the financial statements do nol accord wlth those records., or the financial statements do not Comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view whlch Is not a matter consid8r8d as part of an Independent examination,. or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have corne across no othef matters in connection with the exarninalion to which attention should be drawn in this report in order to enable a proper understanding of the financial statem8nts to be reached. ZcJknJ</J5 Sharon Edwards, F.C.A Mapus- Smith and Lemmon LLP 48 King Street Kings Lynn PE30 1HE England Dated.. 13È..
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WELLS COMMUNITY HOSPITAL TRUST BALANCE SHEET ASAT 31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 16 524,595 537,997 Current assels Stocks Debtors Cash at bank and in hand 17 18 6,288 8,251 181,379 3,796 10,863 168,624 195,918 183,283 Credilors: amounts falllng due wlthln one year 19 (10,3961 (13,223) Net curront assets 185,522 170,060 Total assels less current Ilabllltlos 710,117 708,057 Net assets excludlng penslon Ilablllty 710,117 708.057 The funds of the charlty Endowment funds Restricted income funds Unrestricted funds 20 21 413,291 71,259 225,567 416,327 64,308 227,422 710,117 708,057 The company is entitled lo the exemption from th8 audit requirement contained in section 477 of the Companies Acl 2006. for the year ended 31 March 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting record5 and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financlal statements have been prepared In accordance with the provisions applicable to companies subject to the small companies regime. financl I statement5 were approved by the truste8s on L>..l....... DrSRGShaw Trustee Company registration number CE001362 (England and Wal8s)
WELLS COMMUNITY HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charlty Inforniatlon The charity is a regist8r6d charity in England and Wal8s and constitut8d as a Charitable Incorporated Organisation. The address of the principal offic8 is Wells Community Hospital, Mill Road, W8lls-next-th8-Sea, Norfolk, NR23 1 RF. 1.1 A¢countlng conventlon The financial statements have been prepar8d in accordance with the charity's governing document, the Cornpanies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" The charity 15 a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary arnounts in these financial statements are rounded to Ihe nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Golng concern At the lime of approving the financial statements, the trustees have a reasonable expectation that the charlty has adequate resources to continue in operational existence for the foreseeable future. Thu$ the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrgstricted funds are available for us8 at the discretion of the trustees in furtherance of their charitable objectives. Restrlcted funds are subject to specific conditions by donors or grantors as to how they may be us8d. The purposes and uses of the restricted funds are set out in the noles to the financial statements. The Endowment Fund (Property Fund) represents a grant used to purchase the Trust's freehold property. If the propety is disposed of or used for purposes which are outside the objects of The Trust prior to the expiry dale of 31 March 2021 a proportion of the grant repayable. The fund is treated as an expendable endowment until these restriction5 expire and the Trustees resolve to convert the capital into income. 1.4 In¢oma Incorne is recognised when the charity Is legally entitled to It after any performance conditions hav8 been m8t, the amounts can be measured reliably, and it is probable that Income wlll be received. Cash donations are recognised on receipt. Oth8r donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legaci8s ar8 r8cognis8d on recalpt or olhernlse If the charity has been notified of an impending distribution, the arnount is known, and receipt is expected. If the amount is not known, the legacy is treated as contingent asset.
WELLS COMMUNITY HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {Continued) 1.5 Expenditure Expenditure is r8cognised when a liability is incurred. Contractual arrangements and performance related grants are recognised as goods or services are supplied. Other grant payments are recognised when a constructive obligation arises that results in the payment being unavoidable. Costs of generatlng funds are those costs Incurred In tradlng activlties that raise funds. Charitable activities are those costs incurred by the charity in meeting its charitable objectives. Governance costs include those incurred in th8 gov8manc8 of th8 charily and ils ass8ts and ar8 primarily assoclated with the constitutional and statutory requirements. 1.6 Tanglble Ilxed asset8 Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to writ8 off the cost or valuation of assets18SS thelr residual values over thelr useful Ilves on the followlng bases.. Freehold property Fixtures and fittings Comput8rs Motor vehlcles Propety improvements 2 % Straight line 5 % to 20°/o Straight line 5Vo to 200/0 Straight line 25Vo Stralght Ilne 5Vo to 200k Straight line The gain or loss arising on the disposal of an asset is determined as the difference belween Ihe sale proceeds and the carrying value of the asset, and is recognised in the slalement of financial activities. 1.7 Impalrm8nt of flxed assets At each reporting end date, the charity revlews the carrying amounts of Its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of Ihe asset is estimated in order to determine the exlent of the impairment loss (if any). 1.8 stocks stocks are stated at the lower of cost and estimated selling pric8 less costs to complet8 and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurrèd In bringing the stocks to their present location and condition. Items held for dlstribution at no or nominal consideration are measured the lower of replacement cost and cost. Nel realisable value is the estimated selling price less all 8Stimaled costs of completion and costs to be incurred in marf(eting, selling and distribution. 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call wilh banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 10-
WELLS COMMUNITY HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (Contlnued) 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial inslruments are recognised in the charitys balance sheet when the charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there Is a legally enforceable right to set off the recognised amounts and there is an Intention to settle on a net basls or to realise th8 asset and settle the liability simultaneously. Bas1¢ flnanclal assets Basic financial assets, whlch Include debtors and cash and bank balances, are Initially m8asured at transaction price including Iransactlon costs and are Subsequently carri8d at amortlS8d cost Using the effective Int8rest m8thod unl8SS the arrangement constitutes a financing transaction, wher8 th8 transaction Is rneasured at the present valu8 of th8 futur8 receipts discount8d at a mark8t rat8 of interest. Financial assets classified as receivable within one year are not amortised. Baslc flnanclal Ilabllltles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction Pri unl8SS the arrangement constitules a financing Iransaction, where the debt instrument is measured at Ihe present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt Instruments are subsequently carried at amortised cost. using the effectlve interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Dernoognltlon of flnanclal Ilabllltles Flnancial liabilities are derecognised when the charity'5 contractual obligations expire or are discharged or cancelled. 1.11 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's 8ervic8s ar8 received. T8rmination benefits ar8 r8cognis8d immediately as an expens8 when th8 charity is demonstrably committed to terminate the employment of an employee or to provide lermination benefits. Crltlcal accountlng estlmates and Judgements In the application of the charity's accounting policies, the Irustees are required to make judgements, estlmates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other SourS. The eslimates and associated assumptions are based on historical experience and other factors thal are considered to be relevant. Actual results may differ from these estlmates. The &stimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which th8 6Stimat8 is r8vis8d where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 11
WELLS COMMUNITY HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donatlons and logacles Unrestrlcted Rostrlcted funds funds 2024 2024 Total Unr8Strlcted Restrlcted funds funds 2023 2023 Total 2024 2023 Donations and gifts Grants received 40,231 40,231 116,733 25,732 5,512 25,732 95,981 116,733 90,469 40,231 116,733 156,964 31,244 90,469 121,713 Income Irom charltabla actlvltles Unreslrlcted funds 2024 Unrestricted funds 2023 Income from charltablo a¢tlvltl8s Communily sup8markel income Charitable rental income Other income 48,992 85,731 6,789 8,399 80,323 3,587 141,512 92,309 Income from other tradlng actlvltles Unrestrlcted Unraslrfcted funds funds 2024 2023 100 Club & fundraising Fundraising ev8nts 3,927 1,772 5,198 2,856 Other trading activities 5,699 8,054 Income from Investments Unrestricted Unrestrlcted funds funds 2024 2023 Interest rec8ivable 791 99 12-
WELLS COMMUNITY HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Other Income Unreslrlcted Unr8slrlct8d funds funds 2024 2023 other income Café takings Merchandise takings Ex8rcise classes 14,755 16,963 17,248 17,700 577 1,468 135 31,853 36,993 Expendlture on ralslng fund8 Unrestrlcted R88lrlcted fund8 funds 2024 2024 Totsl Unrestrlcled Restrlcted fund8 fund8 2023 2023 Total 2024 2023 Fundralslng and publlclty Seeking donations, grants and legacies 2,613 690 3,303 2,593 8.314 10,907 13-
WELLS COMMUNITY HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expendllure on charltable actlvltles Charitable actlvltles 2024 Charllable activities 2023 Direct costs Staff costs Depreciation and impairment Dir8cl costs 140,452 16,052 21,208 131,462 15,690 10,586 L li Oth8r operating costs Maintenance Utilities Other staff costs Insurance Bad debt provlslon and wrlte offs Fitness classes Dog show 8xpenditure Supermarket stock purchases 36,477 8,298 37,403 323 7,736 250 47,105 12,456 32,620 2,219 6,044 2,280 936 2,881 40,131 7,309 311,011 268,707 Sharo of support and governanca costs (see note 10) Governance 17,409 8,056 328,420 276,763 Analysi8 by fund Unrestricted funds Restricted funds 219,328 109,092 206,146 70,617 328,420 276,763 10 Support costs allocated to acllvltles Charllable activities 2024 Total 2023 Governance 17,409 8,056 14-
WELLS COMMUNITY HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Support costs allocated to activities {Contlnued) 2024 2023 Governance costs compris8: Accountancy Accountancy - prior year Book-keeping $8rvices 3,840 3,774 9,795 4,938 3,118 17,409 8,056 11 Net movement In lunds 2024 2023 The nel movement in funds is stated after chargingl(¢rediting): Depreciation of owned tangible fixed assets 19,088 18,729 12 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. 13 Employe0• The average monthly number of employees during the year was.. 2024 Numbar 2023 Number Employment costs 2024 2023 Wages and salaries 140,452 131,462 There were no employees whose annual remuneration was more Ihan £60,000. 14 Olher Endowment Endowment funds funds general general 2024 2023 Depreciation 3,036 3.036 15-
WELLS COMMUNITY HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Taxation The charity is exempt from taxation on its activities because all its income Is applied for charitab18 purposes. 16 Tanglbl8 flxad assets Freehold Flxturèts and prop•rty flttin98 Comput•r# Motor Property vehicles Improvements Total Cost At 1 April 2023 Additions 443,651 131,086 4,080 4,200 1,606 10,438 81,100 670,475 5,686 At 31 March 2024 443,651 135,166 5,806 10,438 81,100 676,161 Depreclatlon and Impalmient Al 1 April 2023 Depreciation charged in the year 27,324 61,457 3,390 1,740 38,567 132,478 3,036 7,788 890 2,610 4,764 19,088 At 31 March 2024 30,360 69,245 4,280 4,350 43,331 151,566 Carrylng amount At 31 March 2024 413,291 65,921 1,526 6,088 37,769 524,595 At 31 March 2023 418,327 69,629 810 8,698 42,533 537,997 17 Stocks 2024 2023 Flnished goods and goods for resale 6,288 3,796 18 Debtors 2024 2023 Amounts falllng due wlthln one year: Trade debtors Other debtors Prepayments and accrued income 2.487 3,431 2,333 4,654 3,876 2,333 8,251 10,863 16-
WELLS COMMUNITY HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Credltors: amounts falling due wlthin one year 2024 2023 other taxation and social security Trade creditors Accruals and deferred income 2.460 1,539 6,397 1,944 5,825 5,454 10,398 13,223 20 Endowment funds Endowment funds r8presenl assets which must b8 held permanently by the charity. Income arising on the endowm8nt funds can be used in accordance wlth th8 objects of th8 charity and is includ8d as unrestricted income. Any capital gains or losses arlslng on the assets form part of the fund. At 1 Aprll 2023 Resources At 31 March expended 2024 Pormanont Ondowments 416,327 (3,036) 413,291 Prevlous year: At 1 April 2022 Resources Al 31 March expended 2023 Permanent endowmenls Property Fund 419,363 {3,0361 416,327 Propety Fund represents a capilal grant received from NHS Norfolk for the purchase of the freehold property. Conditions attached to this grant expired on 31 March 2021. 17-
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WELLS COMMUNITY HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Unrestrict8d funds The urirestricted funds of the charlty comprise the unexpended balanc8s of donations and grants which are not subject to SP8cific conditions by donors and grantors as to how they may be us8d. These include designated funds which have be8n s8t aside out of unrestricted funds by the trustees for sp8cific purposes. Al 1 Aprll 2023 Incomlng resources Resources At 31 March expended 2024 General funds 227,422 220,086 (221,941) 225,567 Prevlous year.. At 1 Aprll 2022 Incomlng resources Rasources Al 31 March expended 2023 General funds 267,462 168,699 1208,739) 227,422 23 Analysis of net assots between funds Unrestrlcted funds 2024 Restrlcted Endowment funds funds 2024 2024 Total 2024 At 31 March 2024: Tanglbl8 assets Current assetsl(liabilities) 99,801 125,766 11,503 59,756 413,291 524,595 185,522 225,567 71,259 413,291 710,117 Unrestrlcted funds 2023 Reslrlcted Endowment funds funds 2023 2023 Total 2023 At 31 March 2023: Tangible assets Current assetsl(liabilitles) 106.034 121.388 15,636 48,672 416,327 537,997 170,060 227.422 64,308 416,327 708,057 23-
WELLS COMMUNITY HOSPITAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Op8rating18as8 commitments Lessee At the reporting end date the charity had outstanding commitments for futur8 minimum leas8 paym8nts under non-cancellable operating leases, which fall due as follows: 2024 2023 Within one year Between two and five years 680 1.191 680 1,871 1.871 2,551 L088or At the reporting end date the charlty had contracted wlth tenants for the followlng minlmum lease payments: 2024 2023 Within one y8ar B8Iw88n and flve years 2,439 6,512 2,439 2,439 8,951 25 Related party transactlons There were no disclosable related party transactions during the year (2023 - none). 24-