ST JOHN'S LICHFIELO IA Charitable Incorporated Organisation) REGISTERED CHARITY NUMBER 1155998 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Oains Audit Ltd Chartered Aceountants 2 Chamberlain Square Paradise Clrcus Birmingham B3 3AX
ST JOHN'S LICHFIELD FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 PAGE Annual Report Report of the Auditors Statement of Financi81 Activities 10 Balance Sheet Slalemenl of Cash Flows 12 Notes to the Accounts 13-20
ST JOHN'S LICHFIELD ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2025 Reference and administrative information The Charity is a charitable incorporated organisalion and is Tegislered with the Charity Commission under charity registration number 1155998. 11 is governed by an amended Conslilulion adopted on the 2nd March 2021 as amended by a resolution passed on 30th May 2024 The Charity's principal office is located al Si John's Hospital Sl John Street Lichfield Staffs WS13 6PB Website". www.st.ohnslichfield.or The Board of Trustees can comprise up lo 10 appointed trustees, who are elected by the Board, and 2 nominated Iruslees, who are appointed respectively by the President and the Chapter of the Cathedral Church of Lichfield. President.. The Bishop of Lichfield Trustees.. The Charity Iruslees who have served during the financial year and up to the date of this report lincluding those who have retired during the yearl are listed below. RBKOyott N Argusl C P Killo Mrs G Cox Mrs K A Duncan-Brown S R James Mrs L Lockwood L Robertson rs S Sharpe A D Thompson Revd E A Wall Chairman Iwilh effect from 281h November 20241 Vice-chairman and Chapter's nominated Iruslee Retired 1 Trh October 2025 Appointed 29th November 2024 Retired 8th October 2025 President's nominated Iruslee There are currently 9 trustees. To better manage the affairs of the Charity the Trustees operate the following commillees which report regLJlarly to the Trustee Board, which meets approximately every 2 months. Finance and General Purposes IF&GPI= R.B.K. Dyott Ichairmanl N. Argusl (Vice chairmanl C. P. Killo The Reverend E.A. Wall S R James
ST JOHN'S LICHFIELD ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2025 Reference and administrative information Iconlinuedl Appointment of Residents.. Mr N Argusl (Chairman) R B K Dyoll IEx-Officiol Mrs K.A. Duncan Brown Irelired 171h October 2025) Mrs G Cox Mrs S. Sharpe Mr L Robertson Mr S R Jame5 (from 17th October 2025) Gardens and Grounds- Mrs L. Lockwood (Chairman) Mrs S. Sharpe C.P. Killo In addition, ad hoc working groups are formed lo deal with specific matters which cannot be Conveniently or effectively considered al a main meeting of the Board, or in F&GP or other formal committee meetings. The Charity s main advisers are as follows.. Principal Bankers.. CAF Bank Limited 25, Kings Hill Avenue. Kings Hill, Wesl Malling, Kent KT19 4JQ Registered Audltors.. Dains Audit Limited 2 Chamberlain Square Paradise Circus Birmingham B3 3AX Investment Advisers.. RBC Brewin Dolphin Ltd The Chalwin Building 81 Colmore Row Birmingham B3 2AP Solicltors.. Ansons Solicitors Ltd St. Mary's Chambers Breadmarkel Street Lichfield WS13 6LQ Propgrty advisers And Land Agents.. Bagshaws LLP 69 Derby Road Ulloxeler Staffs ST14 8E
ST JOHN'S LICHFIELD ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2025 Key personnel.. Revd S Greensmilh (Master until 30th April 20251 Revé Prebendary A Stead (Master from 11 Ih December.20251 Mrs J Bostock- Bursar Miss W Smith- Office manager Report of the Trustees for the year ended 30 June 2025 The Trustees present their annual report and financial slalemenls for the year ended 30 June 2025. The financial slalements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the governing document, the Charities Act 2011 and Accounting and Reportng 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 History and Governing Document The Charity's activities are governed by an amended constitution adopted on 2ThJ March 2021 {superseeing that of 12 September 20131 as amended by a resolution passed on 30th May 2024. By virtue of a pre-merger vesting agreement éaled 1 September 2015, the unincorporated charity St John's Hospital (registered charity number 2147841, transferred 118 assets lo St John's Lichfield. Sl John's Hospital was re-founded in 1495 and was governed by a Charity Commission Scheme dated the 8 January 1976 as varied and affected by furtheT Schemes dated the 25 May 1983, 16 September 1997 and 26 September 2014 and as amended by resolutions dated 3 May 2007 and 3 November 2011. The objects of the Charity are lo provide and maintain almshouse accommodation for beneficiaries living in the Diocese of Lichfield, to provide such benefits for the residents as the Trustees decide and to make provision for the relief of those in need within the Diocese. To qualify for appointment lo almshouse accommodation beneficiaries must be poor persons of good character who are in need. The Charity does not actively fundraise, bul lo fulfil its objectives relies on weekly maintenance contributions from residents and the careful stewardship of ils investment properties and portfolio of stocks and shares. Recruitment and Appointment of Trustees The constitution provides for a maximum of 12 Trustees of whom 10 are elected by the Board, by resolution at a meeting of the Board, and 2 are nominated,. one by the President and one by the Chapter of the Cathedral Church of Lichfield. All Trustees Iwhether elected or nominated) are normally appointed lo serve for a period of 4 years. In selecting individuals for appointment as charity Iruslees. the skills, knowledge and experience needed for the effective adminislralion of the CIO are taken into consideolion. The Trustees are continuing their efforts lo make further appointments lo enhance the skillsel of the Board. Trustee Induction and Tralnlng A pro forma information sheet is provided lo nominating bodies prior lo an appoinlmenl. The induction process for a newly appointed Iruslee comprises of an initial meeting with the Bursar at which an information pack including copies of the current version of the governing document, the most recent annual report and accounts, minutes of Trustees. meetings held in the previous 12 months and the Charity Commission Guidance "The Essential Trustee.. what you need to know" is provided.
ST JOHN'S LICHFIELD ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2025 As pert of the training programme Trustees are encouraged lo attend seminars and training sessions provided by the Almshouse Association IAAI of which the charity is a member. The AA provides information on good practice and changes in the law affecting almshouse charilies, and acts as an authority to lobby the Government and Regulators on behaK of almshouse charities. Organisation The Trustees meet regularly throughout the year lo consider the Charlly 8 affairs and ils strategy , which includes consideration of grant making, investments, reserves, risk management policies and performance. In addition, the Trustees hold strategic plannlng days from time lo lime lo consider particular initialives and challenges. Key management personnel The Board of Trustees is responsible for the overall strategic direction of the Charity and for ensuring that the key management personnel, namely the Master, the Bursar and the Office Manager, implement the agreed strategy and conduct the Charity s operations in the most effective way, complying with all laws and regulations in a manner consislenl with best practice. The Trustees give of their time freely and no Iruslee remuneration or expenses were paid during the year. The Trustees are required lo disclose all relevant interests and register them with the Bursar and, in accordance with the Charity s conslilulion, withdraw from decisions where a conflict of interest arises. The Master is responsible for overseeing the welfare of residents and the execution of the duties as chaplain. The role of Master is al the heart of the community al St John's. The Master is required lo be a priest in Holy Orders, is licensed by the Bishop of Lichfield and Is paid a Stipend al the same rale pro rata as all other Anglican priests within the Diocese of Lichfield. Al the end of April, the Revd Sharon Greensmilh resigned as Master al which point the Trustees reviewed the position and decided that the circumstances no longer justified a fLJlI time appointment. The Trustees were pleased lo appoint the Revd Prebendary Andrew Stead on a part lime basis with effect from 11 December 2025. The Bursar 15 employed on a part lime basis and works closely with the Chairman and Vice-Ch8irman. She is responsible for the day to day management of the Charity assisted by the full lime Office Manager whose responsibility includes adminislralion and the day lo day liaison with residents, trustees, staff and visitors. Remuneration for both posts is based on similar roles within the locality and is reviewed annually. Risk Management The Trustees have a risk management strategy which comprises.. a wrillen risk analysis., an annual review of the analysis., the establishment of systems and procedures lo mitigate those risks identified in the analysis., and the implementslion of procedures designed lo minimise any potential impact on the Charity should those risks malerialise. Mallers addressed ir¢clude'. investment management where the risks have been ameliorated by appointing external Fund Managers to manage a portfolio of diverse investments designed to provide a balance between capital growth and income,. management of the portfolio of agricultural land through a retained firm of Land Agenlslsurveyors, who carry out regular reviews and inspections lo ensure that the land and buildings are maintained in good condition., the condition of the almshouse buildings and grounds through a firm of Architects with expertise in dealing with Grade 1 listed buildings, who carry out quinouennial reviews and annual inspections lo ensure that the buildings and grounds are maintained in good condition,. a comprehensive review of Fire Risk and Health & Safety al Work., a review of Financial Procedures.,
ST JOHN'S LICHFIELD ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2025 an annual review of Conflicts of Inleresl., and a complaints review and self-assessmenl Objedives and Activities for the Public Benefit The objects of the charity, as provided for by the constitution, are.. the provision and maintenance of almshouse housing accommodation for beneficiaries and of any Chapel allached Iherelo., such charitable purposes for the benefit of the residents leilher generally or individually) as the charity Iruslees decide,. an the relief of beneficiaries (either generally or individually) by making grants of money or providing or paying for items, services or facilities calculated to relieve the need of such persons. The almshouses are located on two separate siles in Lichfield known as Sl John's wilhoul the Barrs and St. John's within the Close. Sl John's wilhoul the Barrs contains 30 apartments. St John's within the Close consists of 4 studio apartments and 8 apartments. Public Benefit The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and have complied with their duties under the Charities Act 2011. Since ils re-foundalion in 1495, Sl John's has existed for the public benefit of the citizens of Lichfield and the Diocese of Lichfield. Originally offering sanctuary lo just 'lhirteen honest poor men. and a refuge for Iravellers who were 'wilhoul the 88rrs of the City il has consisterTrtly provided Christian support lo those in need and al the year*nd il housed 48 residents. All persons resident in the Diocese of Lichfield are welcome lo apply for accommodation as vacancies arise and the Trustees strive to make life increasingly comfortable for meTnbers of the St John's community. Sl John's Wilhoul the Barrs, which is a Grade 1 listed sile, welcomes visitors lo its Chapel. The Charity benefits from a stable community for ils independent living accommodation an(1 there is always a high level of demand when apartments become available. Residents are encouraged lo act as 'good neighbours, lo each other and enjoy the benefits of living in a safe and secure community and a calm and peaceful environment in the heart of Lichfield. The Chapel is al the centre of community lrfe with daily prayers and weekly Eucharistic services for those who wish to allend when the congregation omprises not only residents bul also other people. often living close to the Chapel. Review of the year Work during the year has continued lo focus on the on-going Programme to ensure that all accommodation reaches the high standard achieved in the new almshouses, which were completed to Passivhaus standards in the year lo 2018. This work has focussed on the refurbishment of three apartments at St John's wilhoul the Barrs and the completion of work to the plumbing and pipework servicing the laundry room at Sl John's within the Close. The lolal cost of these works amounted lo £56,000. Other subslanlial work included repairs lo lrfts and the five yearly fixed electrical lesling for all buildings. Remedial works lo a section of a boundary wall al Sl John's without the Barrs, agreed during the financial year, have been carried out post the year end. St John's has welcomed 8 new residents lo the community during the period. Residents have also enjoyed the annual Palronal festival held lo celebrate the festival of St John the Baptist held on the 241h June each year. The Charity continues lo manage its three investment agricultural holdings. Following the death of the lenanl in February 2024 a notice lo terminate the tenancy of one holding was served upon his executor in March 2024. The Charity negotiated an early surrender of the holding plus a substantial dilapidation payment and re-lel il on a farm business tenancy from September 2024 al an increased rent.
ST JOHN'S LICHFIELD ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2025 The Trustees have also liaised with Lichfield Sports Club to permit an extension lo the pavilion lo be built lo provide additional changing facilities and operational premises for Libety Jamboree {a local registered charity supporting children 2nd young people with learning andlor physical disabilities and other needs). FINANCIAL REVIEW Policy and Performance In addition lo weekly maintenance contributions from residents, the Charity derives ils income from its portfolio of investments and various property holdings. The property holdings are managed by the Trustees, who lake appropriate professional advice. The investment portfolio is managed by external fund managers on a discretionary basis, whose brief is to seek capital growth to maintain the real value of the funds in their hands while providing an annual income lo help maintain facilities within the almshouses. The fund managers pursue a moderate risk investment policy and maintain a diversified portfolio through a combination of UK Government or other high-qualily fixed interest stocks, and good quality investments, e.g. FTSE 100 Stocks in the UK ané major overseas markets. The Trustees, investment policy requires that the charity's assets be invested in line with its objects though the Trustees do not adopt an exclusionary policy, bul individual investments are lo be excluded if perceived to conflict with the Charity's purpose. Despite heightened market volatility driven by uncertainty surrounding US trade policy, particularly tariffs, and concerns over persistently high inflation keeping interest rates in reslriclive territory, the porttolio delivered positive returns. Over the last financial year, the portfolio achieved a positive total return of 4.89'1o (after fees). outperforming the Asset Risk Consultants (ARC} Steady Growth index, which returned 4.17°h. The ARC Index, comprising over 5.000 charity portfolios managed by 35 drfferenl investment managers, serves as a robust benchmark for comparing performance against peers with a similar level of investment risk. This was all supported by a broader market trend of declining interest rates. Reservgs Policy The Charity operates both a Cyclical Maintenance Fund and Extraordinsry Repairs Fund to ensure that the proper maintenance and improvement lo the almshouses and the Chapel can continue on an annual basis. Both funds are established out of the income of the charity and are entirely at the discretion on the Trustees. Charity funds al 30 June 2025 £18,231,988 lolalled £ 12024". £18,110,511] comprising permanent endowment £14,989,75412024.. £14,854,486], restricted funds £193,53612024. £197,330], designated fLJnds £147,30612024. £186,5001 and income funds £2,901.392 12024. £2.872,1951 (which includes £2,710,497 of tangible fixed asselsl12024.. £2,732,894]. The Trustees have reviewed the Charity's needs for reseryes in line with the guidance issued by the Charity Commission and have decided that il is appropriate lo maintain free reserves al a minimum of £100,000, this being sufficient lo finance a minimum of 6 monlhs of expenditure, should income be compromised. Al 301hJune 2025 the free reserves element in the income fund amounted lo £230,377. This amount is thought lo be prudent given the current balance in the designated funds. The free resetve will be used lo fund cyclical repairs from the income account in 202512026 to aid the rebuilding of the designated reserves lo a more acceptable level Complaints review No complaints were received during the year. The Trustees, Complaints Policy is compliant with the Housing Ombudsman's Code of Conduct. Plans for the Future The ongoing progratnme of replacing and upgrading lo provide fully accessible bathrooms and modern kitchens will continue. The Trustees have agreed lo retain the land adIanI lo the almshouses al Si John's wilhoul the Barfs with a view to redeveloping il lo provide further almshouse accommodation and facilities.
ST JOHN'S LICHFIELD ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2025 TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England & Wales requires the Trustees lo prepare financial slalemenls for each financial year which give a true and fair view of the stale of affairs of the charity and of the income and expenditure i)f the charity for that period. In preparing these financial slalemenls, the Trustees are required lo.. select suitable accounting policies and then apply thern consislenlly,. observe the methods and principles in the Charities SORP., make judgements and eslimales that are reasonable and prudent., stale whether applicable accounting standards have been followed, subject lo any material departures disclosed and explained in the financial slalements,. and prepare the financial slalemenls on the going concern basis unless il is Inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping propeT accounting records that disclose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the financial slalemenls comply with the Charities Act 2011, the Charity {Accounls and Reports) Regulations and the provisions of the conslilulion. 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 on 29th January 2026 and signed on their behalf by.. RBKDyott Chairman of Trustees
STJOHpfs LICHFIELD Independent Audltor's Report to the St John's Llchfield Opinion We haVe8rtl $tstWnts trfStJohn's (the th8rity'lforthÉ yeard June 2025 whKth fxxnpris&tr)8 siatemwl of Fin8naa Athfjb&s. the BaL9nce Sheet and wlesb thefin81aI str1ts, inrludin9svjnnlnlaQunro li¢jeS. Thefinanrial reportin9fBfflwk ih81 hasbeen 2ppli& in tr preparabon is aPptable law and Ufiil&S AitsuntK Standards, indudiw Fw)ana81 Standarj 102 Tho fin8nci81ReWtYstsnd8ppG8h It UKwdRepublic ofIreld1Unit noM Generally PrJctKel. ouropinKn Lhefirwro4 statwnents.. gvea twe¥nd taYwiewofthestaleofthecl%¥riV5afraiE as¥1 30June2025. and ofts ¥ioxvning apZti ofr850urw trthding its inrJ)ne 8nd expendIre, fortr Y9rth dfyy.. fovebeen prop&ty prepar&fj in 8(xfjrdan(vAU) Unil&J lQrgdom CrErallyAtte¥ted knounb'ng PractLe', a h8vÈbn Prep2r In artsrdanrKiU) the reqU1ma)ts0fthech8ritie$Att2o1l. Basls foropinion We ndUCtl wraudil In aoxrdancewith 1ntemab.onal Stsndards on ALhJitinglUKI IISA8lUKl}d ap1¢ate1SW. Ourresp)Mbilityes underlhosestsndards srefutherdescbÉd in thedI10$ responsibile$ forlhe Èu(kni ofthef¥)antial sktemÉntssÉtton 0frr[l Weare indep8ndttsfthe charity in VAU) O)8elhitsl WuireM1hata rewanttoouraudrt oflhe finaal Staterts In the UK. indu(liry the FRC'S Ethic¥l Stsnd8rtl. we have1uffill our oth¥ethi¢21 r8SpOn&bts8s in 8(%£aad) d)8se rUIrn. W8 bdi8vethaitheaudlithfjdcw@ h8V&obkln Is SLrffioentarQ appropriateto prowd8 bags forour(¥ynh Conclusions r•laUng to golng conc8m In auditinglhefinanrAal stalNer,we hwrfe(x)rKILKJ&l thaIttElnle2s. ofthe yxng(XKK%m bas ofaEwunb'ng n the wepardtiwofthe financid sknrents appropte. lon thewoth we haVepwfwllJ. wehave Th)tIdentifi any material urKertaintie5 rektiw to eVets0rdItiQS that. indNrydually orcOlle(¥y, may(xst signthontthubion Ih8thanVs 8ixltyto (mlnu88s 8 (Xcnrf a p8KKlofatl8astts¥dv8 mcrths from Ih8fin8a Stat1nts dreaUrisf0r issue. rrewn$1theg and the ofthÈtruswwith rttr>9)r& (xAm arèd8S(rritx¥J in ts rdevani 8thns oftris r8Wrt Other Infomiatlon The other intsnn8bon ts)mprfs Iheinfomabon Includ in the te88 8nnual reptst. OU)wlhan thefin8nci81 slatw)8nts raLt018 reFth. Jstees are resFonsibleforthe otheritrfornation wntaIn IheannuJ reKKWt. O[K)n on thefinarKxal sts1ts doe5 rK)t(xwtheotrErlnfomatrJn aNJ. ÈXC1 to the e%tenlotrEwseeWioty staled in our rewrt, dornl e any fom of8ssLran COndlon thewn. Irres[n$1biltyiS lo read Iheotrw Informatron 8nd, In so, Ixrnderthetherthe other inform3ti)n is maleTr81ty illcon&sknl ltr}efin8n(ll Stsl¥n8nLs or ou[kr(1)I81n5 in therthrse ofU)8 audit0rotherri8ea8arStO b8 malaialy missta. Ifweidenbfy surh m818n81 In0)ntisltr8$ apparEnt material mk%Stslemts. we are wuiwl to detwninewhetherthis give5 Trseto a ffltsial misstslwneni in IhÈfirÉn(ial stthnSe. If. ba5a on thewcrfk we have pthfom8d, we 0cludeb)alther8 Is a m81erial MISStatentofthis ottw wfamtiOn, we are rewir& kn repcrtthalfa¢ We have nothing to r4K)rtin rea. Matters on which we are required to report by ex¢ptlon We have nothingto report in respeGt 1hef01lr tnaltets rdation b whKth the tharib'es IAoxx)untsarMI Rew)Tbl RvJubbs rwuire us to rep)rttoy rf, In ourwnw)n'. the infom8tioTTrg8n in thefinandal stattrnents is InsiS1enl h any matsrial the tNsts' rep)rt or thechslty has not keptadequateamnting rewrds.. or thefinants81 stat&iientsar8 noiin aw88mentwith the 8ts>Juntng rordS and r8turrE,' wÈhave not r&4181 theinfomiation and expL9natts we requireforoLraudit Responsibilities of trustees As expL91n mor8 fiJY In thetwsle8s' raSp)n.11aS stateMentsett0n pgJe7. theSleeS are r&Spwblerthe pr8paral)n ofthefinarKxal $ttsar1 forbeiry Satisfi1hatth£Yglve a trueand f3irw&v, and iniÈmal thntro] asthetsustÉ&8detenrine i%n8LssarytoénatAetheprepardtion offinantsal StsleMts th818re freefrcm matgial mlsstslemtt whetherduetofraud orwyx. In preparin9 kneffinano ststhents. #E tyu5tee5 are rewsibiefor35sesgnglhe(HTity's8tNltyto(x)ntinuE as a g(xn9(xxw, drsdowry, as applIob. m8tters 109tyry and using trE g)Ing th)n bas ofawjuntin9urltssthe$tes InteThJ kn IlIdateecharity0r to ceaseopprdbons. or Iwve no real1th41tVe buttr>do . Audltorfs responsibilities forthe audit of the financial statements We hav8 been as audit0rundersti0n 144 oftreChanb"8sAct2011 reF(rt¥i acLudance%Mth rg3ul)nsmadeundwSèc 154 oftrthA(t Ir cbiecv8S 8re to obtsin reasonable aSsUranatsCxJtwhelh ihefinanlial ststwnents as a vth(4e arefreefr(Kn malerol rnisstalwwtt ltheIherd to fraud or artr, and to issuean auditols rep)rtthal includ8sour0nl¢. R&gsonab18 8SSur8n Is 8 hi9h level of assurance. bul Is not a gU8n& UTratan audit(vn(ILKI n¥rdareIth Ists (UK}vlI ahvays dela tHaal misstatan1 when il exksts. Mi5StalarenLs a[e from fraud orerTDrarKS are considered Malen If. or the aggrale, lheyUld reasonably be exkEYXd to inffluen ienomiGeQi95 of uSerstsk on the bawsofthese finanu81 stsinenLs. IwuLirib"es. indudin9fraud, areinstsnCesofrK)rkwmlanWith L4ws and wu05. Wedesign pr[re5 in lineth our restxXI1jllbe5, OULIn above, to d8t8ct Matetlalmitat•nts in re5tOf11regL1ari5. IrKILngfrath. TrteXtlb)Ikn0ur prtt&L¥es are carotle0fdettiry irwuL8rib8s, fKJding ftaud det4ikd bdow.. the5wrStaIt0ry auditor etisured that the erwtrnentteam wl&bvdy had tr)e4)ycprotsuynwtÉrth I2LI1.898fKjthllSt0 rwni5e apra)laWS arKJ regulations.. we trE and regulÈtions aKpii(b18 to dipthssKJnswith buste88 2nd olhwman89nÉnlaTrOM knge and eXp¥n(o11h8 tslarfty 88Ctr, EfOJs on SFtJfiClaJ may have a dIrlmaterialffettcffi th&finraal o[theopns ofthe thÈrity. indud1n9firrl rerorbry legislaion, taxati)n leg4sbton, anb*nW. eMoInlIand wv7rcnmatsl health and SawlegatsOn". %%eassess8d thè 8xtenlofcthmplianceMth Ih&L9wsandfryuL3bons above maknng QuIne$ ofmanagemaNJ Inspecti I (r&%nd8n(,. and Ided laAts and wUbln5Were£¥JYufUl ¥thittEarttearn reJA8rtyaT thetewn JwltoinstarwofnoTrwmnee througmullheaudit WeasstsÈed thesusLeptts"ty0f the tharity'sfinJKial stat¥n&its to rDthial irKknliry obtsining an undw5twKl¥vJ ofhowfraud mkjhtcr. by. ma998(1Mana9emIas tothere thwo)rtsbYered therewassuscepbblty tofraud. thyrkrnwl>Jgeofacluo1. 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STJOHN'S UCHFIELD Indepgndent Auditor's Report to the St John's Lichfield (Continued} Toad(tre5s tre riskoffraud throu managemtia88 Ov&de ofthntrds, we". andybl prowlures to Klenbfy anyunusual orunexwled reL31K$hipS." a59essed ffttherjudwwts and aSsUmn5 in dete1¥19 the esl¥nates setoulin nole 2 tre iK3bve0f blas,. V0.3 the rIle behind s¥nffjo¥nlorunuwd tranwbons In respset0 the rk ofirre9ubntes and wnioMpbare bws¥nd regubb.ons wed W(lUreS1th irhKlwJ. butwEret limit to., 8gwro finanL)al 8tal&ntdI8reSb th7J8tyro supwrln9dwJmentatioiL ding theminut& 0fm6etrysofthoseth8rg&1th g0VwnCe.' enquinng ofm8nawenlastoarual and wt&)tial ltyaoon 8nd daims.. r818vantre9uL81ts5 and thethafty's Ial adSOr$. Be£xusÈof h8 Inherenthmit8lonsof an ald Ihers ts a tsk thalwewll notdet8ctall IrFwJlarfti8s. Includlngthoseleathngto a materw misstatgnentin Ihe fnanoal str115 OrnOrKln¢elwth rewlation This r inoxease5the morelhal urnpliarK2%Mth a Laworregulatian is rernwth frcm the 8Y8nls and ban5actionsrel&ted i) the fincial stat&rents. aswewil bel&ss kdY to tsxmeaware0f1nsian ofnon4Jnpll8n. The risk isalsogreater reprding iwLyrities (rring due to fraud rdtherthanettor, asfraud itwoPfft5 1ntenbtnalnfvenlfDery. (XA1. tmissi(x)ortniwesentthn. Abrtherdesc4ipb"tr) ofourr&bl1the8 is avail8trAeon Financial RwTbnoCourKxl'sweb%le ai.. h JlYhvw.frc.o .ukjOur-WoMAudiVAlI-an assuranc8SIAnrtards-3nd IdanrAS11daidE-an for£u Ilo@AudiloTrr bil1ties-lor-a8 Thi5de5tpts"on foms partofour auditts repo Use of OUT report This madesrldytothe clkqnty.ssteeS. a5 a y. in wx¥y(f3ncewith Part4 oftheChanb"&s (AUnts8nd Reportsl Rwjulthrts 2(M)8. rauditVnrk has been undertaken SD thaiwe might Stste tothe d)aritystrusieesthose mae are UIred kn $12lÈto them in 8n audthrfs rela for m otherpurFQSe. Tothefulle51e¥tenl wThitted by W, we do not a(yzpt a5$E re5wn$b"lty ary otherlhan thecharityandthe(thanV5ttJste8s as a tKM1y, for(MJraudit wort(, fDrthis r8Wrt c*forlhe 4xnionswe h8vefonned. r-a MarkGumey FCCA OChA ISentOT 5tsttrtiryaud>torl Fora[ on bthfofDain5Audit L chart Aux)untan 29a8ry2026 P8ge9
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ST JOHN'S LICHFIELD BALANCE SHEET 30 JUNE 2025 2025 2024 Notes Fixed Assets Tangible Fixed Assets Chapel Investments 10 11 12 5,254,187 Not valued 12,572,538 17,826,725 5,305,923 Not valued 12,495,608 17,801,531 Current Assets Debtors Cash al Bank and in Hand 13 45,044 448,642 493,686 65,554 328,971 394,525 Less.. Creditors: Amounts falling due within one year 14 48,941 45,418 Net Current Assets 444.745 349,107 Total Assetslgss Currgnt Liabilities Creditors.. Amount5 falling due after more than one year 15 39,482 18,231,988 40,127 18,110,511 Capital and Reserves Permanent Endowment Reslricled Funds Designated Funds Income Account 17 14,989,754 193,536 147,306 2,901,392 14,854,486 197,330 186,500 2,872,195 16 18,231,988 18,110,511 These accounts were approved by the Board of Trustees on 29 January 2026 and signed on their behalf by.. RBKDyoll CPKitto Page11
ST JOHN'S LICHFIELD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2025 2025 2024 Cash flows from operating activities Nel cash used in operating activities 263,917 343,7731 Cash flows from investing activities Proceeds from sale of investments 488,712 864.836 Purchase of investments 1472,360) 1817,0001 Movement in cash in investment portfolio 8,010 62,232 Interest received 16,486 15.370 Income from investments 114,970 108.349 Rental income 227,770 121,660 Net cash provided by investing activities 383,588 355,447 Change in cash and equivalents during the year 119,671 11,674 Cash and cash equivalents al beginning of year 328,971 317,297 Cash and cash equivaler¢ts al end of year 448,642 328,971 Reconclliation of net movemgnt in funds to net cash flow from operating activities Nel income for the year las Per SOFA) 121,477 254,512 Adjustments for. Depreciation charges (Gains) on investments Dividends and interest from investments Rental income Ilncrease}IDecrease in debtors (Decreasellincrease in creditors 51,736 {101,292} {131,456} {227,770} 20,510 2,878 {385,394) 52,624 1350,2611 1123,7191 1121,660) {22,9881 32,281 1598,2851 Page 12
ST JOHN'S LICHFIELD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 1. Establishment of St John's Llchfield Sl John's Lichfiele is 8 charitable incorporated organisalion, which was registered with the Charity Commission on 4 March 2014. Ils governing document is a constitution approved on 12 September 2013, as amended 2 March 2021 and 30 May 2024. 2. Accounting Policigs al Basis of Accountlng The financial statements have been prepared in accordance wlh Accounting and Reporting by Charities." Sl8temenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 effective 1 J8nuary 2019 and the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102. The financial slalemenls have been prepared under the historical cost convention with items recognised al cost or transaction value unless olherwise staled in the relevant notes. bl Expenditure Expenditure is accounted for on an accruals basis. Bursarfs and manager's salaries are apportioned 70,/0 lo charitable activities and 300/0 lo other costs.12024- 7001ty.'300AI Office expenditure is apportioned 800A lo charitable activities and 20Q/o to other.12024 - 800A..200/01 cl Tangible Fixed Assets Freehold Property and Property Improvements The Almshouses situated in Sl John Street and known as St John's wilhoul the Barrs, were constructed in the fifteenth century and were extended in the 1960s. There is no record of the original cost and no value is allribuled Iherelo. Improvement work which has taken place since 1 July 1992 has been capilalised and depreciation is being provided at 1 00/0 per annum on a straight line basis. The Almshouses completed during 2018 are depreciated on a straight line basis over 50 years. Internal fittings, including bathrooms and kitchens, are not depreciated. They are replaced on a rolling basis and the costs are charged lo the Cyclical Maintenance Fund. Leasehold Housing Properties (The Closel The leasehold housing properties cost relates lo the construction of the Almshouses known as Sl John's within the Close. This development took place during the 1980s and ¥vas funded by a Housing Association Grant, a mortgage loan from the Housing Corpofalion {se¢ured by a charge on the buildings) and from Sl John's Hospital's own resources. Depreciation is provided on a slraighl line basis. so as lo write off the cost over the term of the lease. d) Housing Association Grant Housing Association Grant IHAGI was pald by the Housing Corporation towards the eosl of developrnent.To the exlenl that the property has not been deprecisled, il is shown as a Restricted Fund on the Balance Sheet. e) Listed Investments Listed investments are initially recognised al transaction value and subsequently measured al their market value as al the balance sheet dale. fj Investmgnt Property Investment Property is included al open market value subject lo exi51ing use. Page 13
ST JOHN'S LICHFIELD NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 30 JUNE 2025 gl Consecrated assets No v21ue has been aitribuled lo consecrated assets in the financial slalements. h) Cyclical Repairs and Maintenance Sl John's Lichfield ha5 estsblished a regular programme of cyclical repairs and maintenance. Costs are charged lo the Cyclical Repairs and Maintenance Fund in the year in which they are incurred. il Cycllcal Repairs and Maintenance Fund This designated reserve represents amounts sel aside for cyclical maintenance. J) Extraordinary Repairs Costs of extraordinary repairs, unless representing improvements lo the properties,are charged to the Extraordinary Repairs Reserve in the year in which they are incurred. k) Extraordinary Repalrs Fund This designated reserve represents amounts sel aside lo carry out major repairs on the Housing Properties. 11 Valuo Added Tax Sl John's Hospital is not registered for value aéded tsx. In these Financial Slatemenls, where applicable, expendrture is shown inclusive of value added tax. 3. Almshouse Running Costs Income count Other Funds Do$ignated Funds Total 2025 Total 2024 Rates and Insurance Healing and Lighting Contractors Upkeep of Grounds Repairs and Renewals Archilecls and Surveyors Fees Sundries Other Benefits for Residents Master's Stipend and Expenses Chapel Expenses Depreciation Amount written off Propety Improvements Loan Interest Bursar & Manager's Salaries Office Expenses inc Telephone 37,094 63,536 34,033 30,459 86,571 8,910 32,498 1,752 39,276 17,483 22,397 37,og4 35,010 63,536 61,963 34,033 31,336 30,459 15,297 140,587 144,278 8,910 4,425 32,498 33,201 1,752 1,526 39,276 45,350 17,483 29,546 51,736 51,736 54,016 29,339 888 5,374 5.456 41,033 38,633 9,716 10,506 513,487 509,151 5,374 41,033 9,716 430,132 29,339 54.016 Reslricled Funds Permanent Endowment 3.794 25,545 29,339 In 2024 depreciation included £3,794 financed from reslricled funds and £25,545 from permanent endowment. Page 14
ST JOHN'S LICHFIELD NOTES TO THE FINANCIAL STATEMENTS {Continued) FOR THE YEAR ENDED 30 JUNE 2025 4. Other Costs Total 2025 Total 2024 Bursar and M2nager's Salaries Audit and Accountancy Trustee Indemnity Insurance Sundry Expenses Office Expenses Bank Charges 17,585 14,946 3,766 7,063 2,429 84 45,873 16,558 16,708 3,766 5,449 2,627 88 45,196 5. Grants Payable No grants were payable in 202512024 £nill. 6. Employee Information 2025 2024 The average weekly number of persons employed during the ye8r, based on a full lime equivalent basis was.. Office Staff Master and Other staff Staff costs are as follows.. Wages and Salaries Social Security Defined 8enefil Pension Contributions Defined Contribution Pension contributions 79,943 2.830 5,424 2,558 90,755 81,612 2,555 7.140 1,513 92,820 No employee received remuneration amounting lo more than £60,000 in either year. Total remuneration of key management personnel was £90,75512024 - £92,820). 7. Trustees Remuneration and Expenses and Related Party Transactions No remuneration directly or indirectly out of the funds of the Charity was paid or payable for the year lo any trustee or lo any person known lo be connecled with any of them. No expenses were paid during the year12024 - £nill. There were no other related party Iransaclions. 8. Taxation Si John's Lichfield is a registered charity and all income and gains are covered by exemptions. Page 15
ST JOHN'S LICHFIELD NOTES TO THE FINANCIAL STATEMENTS (Continuod) FOR THE YEAR ENDED 30 JUNE 2025 9. Net Incoming Resources for the Year are stated after charglng: 2025 2024 Depreciation - Freehold Property Depreciation - Leasehold Property Auditors Remuneration.. In their capacity as auditors Other services Trustee Indemnity Insurance Interest payable on loan wholly or partly repayable in more than five years 44,500 7,236 44,500 7,236 10,800 4,146 3,766 10,800 5,908 3,766 5.374 5,456 10. Tangible Fixed Assets Frgghold Property Leasehold Land & Improvements Housing Buildings Properties 2025 2024 Cost al 1 July 2024 5.241,123 1,260.056 549,964 7,051,143 7,051,143 Cost al 30 June 2025 5,241,123 1,260,056 549,964 7,051,143 7,051,143 Depreciation al 1 July 2024 Charge for the year Depreciation al 30 June 2025 311.$00 44,500 356,000 1,260,056 173.664 1.745,220 1,692,596 7.236 51,736 52,624 180.900 1.796,956 1,745,220 1,260,056 Nel Book Value 30 June 2025 4.885,123 369.064 5.254.187 5,305,923 Freehold Land & Buildings (St John's without the Barrs) £8,138 represents the purchase of a parcel of land adjacent lo the Almshouses known as Sl John's wilhoul the Barrs, The remaining £5,232.985 represents costs incurred in respect of the new build. As more fully explained in note 2lbl, there 15 no record of the original cost of the Almshouses known as Sl John's wilhoul the Barrs and no value altribuled Iherelo. These Almshouses were constructed in the fifteenth century and are Grade 1 Listed Buildings. The Iruslees consider il inappropriate to obtain a valuation of these properties as a Conventional valuation would be unreliable and the cost would be onerous compared with the additional benefit derived by the users of the financial slalemenls. Leasehold Housing Properties {The Closel The Almshouses known as Sl John's within the Close were constructed during the 1980s and were fLJnded by a Housing Corporation Grant of £288,386 Ilhe unamortised amount of which is shown as a Reslricled Fund on the Balance Sheet) and a residual mortgage loan of £44,728 repayable with interest calculated al 13.5Dlo per annum over 60 years from 1 September 1981. The balance of £216,850 was provided from Sl John's Hospital's own resources. The lease is for a term of 99 years from 2 December 1978. Page 16
ST JOHN'S LICHFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025 11. Chapel The Chapel is excluded from the fin2ncial statements by s10 of the Charities Act 2011. 12. Investments 2025 2024 Listed Investments Investment Portfolio Cash nveslmenl Propety 4,091,318 1,220 8,480,000 12,572,538 4.006,378 9,230 8,480,000 12,495,608 UK Listed Investments Market Value al 1 July 2024 Additions al cost Disposals during the year Profivlloss) on disposal Nel unrealised investment gainsl{losses) Market Value at 30 June 2025 4.006,378 472,360 1488,712} 16,381 84,911 4,091,318 3,703.953 817,000 {864,8361 4,204 346,057 4.006,378 Cost at 30 June 2025 3,484,786 3,403,162 Held as lo.. Endowment Fund 4,091.318 4.006,378 4,091.318 4.006,378 Investment Property 2025 2024 Portrolio Valuation al 1 July 2024 Unrealised gain on revaluation Portfolio valuation at 30 June 2025 8,480,000 8,480,000 8,480,000 8,480,000 Unrealised gains included al)ove'. Endowment Fund 5,319,948 5,319,948 The investment property portfolio Iwith the exception of one house) was revalued by Malcolm Gale,MRICS, FAAV, FLA4 of Bagshaws LLP in April 2023 on the basis of open market value subject to existing use. The remaining property was valued by the trustees in April 2023 on the basis of open makel value subject lo existing use. The trustees confirm that there is no material drfference lo the above valuations as al 30 June 2025. Page 17
ST JOHN'S LICHFIELD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 30 JUNE 2025 13. Debtors 2025 2024 Amounts falling due within one year.. Rental income Prepayments Accrued income Other debtors 10,562 15.735 14,405 4,342 45,044 20,731 34,036 9,397 1,390 65,554 14. Creditors Amounts falling due within one year.. Rental income Other creditors and accruals 15,034 33,907 48,941 1,284 44,134 45,418 15. Creditors Amounts falling due after more than one year". Loan Isecuredl due 1-5 years Loan Isecuredl due more than 5 years 4,000 35,482 39,482 3,750 36,377 40,127 The mortgage loan is secured by a charge on Sl John's housing properties within the Close. The mortgage is repayable by equal instalmenls of principal and interest, the final instalmenl falling due on 31 March 2041. 16. Designated Funds Cyclical Extraordlnary Maintenance Repairs Total 2025 Balance at 1 JLJIY 2024 Bank Deposit Interest Transfer from Income Account 116,500 8,770 70,000 6,052 186,500 14,822 125,270 54,016 71,254 76,052 201,322 54,016 147,306 Expenditure during the year Balance al 30 June 2025 76,052 Page 18
ST JOHN'S LICHFIELD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 16. Deslgnated Funds (continued) Cyclical Maintenance Extraordlnary Building Repairs Fund Total 2024 Balance at 1 July 2023 Bank Deposit Interest 201,908 11,112 70,DOO 1,434 273,342 11.112 Transfer (toy from Income Account 1,434 1,434 283,020 96,520 186.500 213,020 96,520 116,500 70,000 Expenditure during the year Balance al 30 June 2024 70,000 17. The asset$ and liabilities of the Charity are represented by the funds as delailed Total 2025 Permanent Endowment Restricted Designated Funds Funds Income Account Tangible Fixed Assets Investments Debtors Cash al Bank and in Hand Creditors.. Within one year Credilors.'More than one year 5,254,187 12,572,538 45,044 448,642 148.9411 39.482 18,231,988 2,350,154 12,572,538 193,536 2,710,497 45,044 227,999 142,6661 39,482 2,901,392 73,337 16,2751 147,306 14,989,754 193,536 147,306 Total 2024 Permanent Endowment Restricted Designated Funds Funds Income count Tangible Fixed Assets Investments Debtors Cash al Bank and in Hand Creditors.. Within one year Creditors'.More than one year 5,305,293 12,495,608 65,554 328,971 145,4181 40.127 18,110,501 2.375,699 12.495,608 197,330 2.732,894 65,554 153,055 139,1811 40,137 2.872,185 110,5841 16,2371 186,500 14.854,486 197,330 186,500 18. Contingent Liability A Housing Association Grant IHAGI of £288,386 was received towards the cost of the construction of the Almshouses known as Sl John's within the C105e. HAG is repayable in Certain circLJmslances primarily following the sale of a property, bul wll normally be restricted lo nel proceeds of sale. 19. Charity Merger By virtue of a pre merger vesting agreement dated 1 September 2015, the unincorporated ¢harity St John'5 Hospital, registered charity number 214784, transferred its ass8ls lo Sl John's Lichfield, a charitable incorporated organisalion, registered charity number 1155998. 20. FLrture Commitment AI 30 June 2025 St John's Lichfield had future commitment5 tolalling £35,500, in respect of repairs to the boundary wall. Page 19
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