REGISTERED CHARITY NUMBER: 1158933
REPORT OF THE TRUSTEES AND
AUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
FOR
MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
Acuity Professional Partnership LLP Unit 2.02 High Weald House Glovers End Bexhill East Sussex TN39 5ES
MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
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|Page|
|Reference|and|Administrative|Details|1|
|Report of the Trustees|2|to|6|
|Report of the|Independent|Auditors|7|to|10|
|Statement|of Financial|Activities|11|
|Statement|of Financial|Position|12|
|Statement|of Cash|Flows|13|
|Notes|to the|Statement of Cash|Flows|14|
|Notes|to|the|Financial|Statements|15|to|26|
|Detailed|Statement of Financial|Activities|27|to|28|
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2021
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| TRUSTEES | MrK SDonaldson | ||
|---|---|---|---|
| Mr G Bendon | |||
| MrIM Steel | |||
| Mrs J Blackburn (resigned 15/10/2020) | |||
| MrM Foster | |||
| Mr C Galbraith | |||
| Mrs SM Parsons | |||
| MrsS Phillips | |||
| MrsA Wing | |||
| ClirA Patmore | |||
| Cllr JBacon |
|||
| Dr PLock | |||
| Mr JBilsby | |||
| RevPHunt (appointed 22/3/2021) | |||
| Mrs JCubison (appointed 22/3/2021) | |||
| CllrD Louise | |||
| PRINCIPALADDRESS | OldHastingsHouse | ||
| 132High Street | |||
| Hastings | |||
| East Sussex | |||
| TN34 3ET | |||
| REGISTERED CHARITY | 1158933 | ||
| NUMBER | |||
| AUDITORS | Acuity ProfessionalPartnershipLLP | ||
| Unit 2.02 | |||
| High WealdHouse | |||
| Glovers End | |||
| Bexhill | |||
| East Sussex | |||
| TN39 5ES | |||
| TRUSTEES | EMERITUS | A Slack | |
| GRD | Kellie | ||
| CR | Morris |
The Trustees were appointed pursuant to the scheme of the Charity Commissioners dated 28 December 1951.The Board of Trustees is authorised to appoint new Trustees to fill vacancies among the co-optative Trustees. Up to three Trustees are nominated by Hastings Borough Council. The Rector (Priest-in-Charge) and the churchwardens for the time being of the Parish of St Clement & All Saints are appointed ex-officio Trustees.
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
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The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and activities
The Charity's constitutional documents show one object, namely: to manage Old Hastings House (OHH). It does so on a2 not-for-profit basis
Implementation and Outcome
The OHH Management Committee continued its policy of progressive improvement to the fabric, facilities and quality of service to residents while keeping charges to a minimum consistent with long-term sustainability. The programme of refurbishment and improvement has continued. A major project was to replace 28 wooden sash windows in the 1989 extension, which had deteriorated beyond repair. This was a like-for-like replacement using superior materials and cost £72,000. Staff turnover remained low. All staff had appropriate vocational qualifications or, in the case of new staff, were in the process of acquiring them. There was a continuing programme of in-house training in vocational skills.
The operations of the Charity continued to experience cost pressures from inflation, increases in the national living wage and the need to recruit additional staff to maintain quality of service. In April the Trustees increased fee rates by an average of 5% in a budget which aimed to break even. In the event a surplus of £97,715 was gained.
Following several years of warnings, the Chairman of the Trustees wrote to the Adult Social Care Department of East Sussex County Council in January 2019 to advise that the Charity had been making an annual cash loss on every ESCC funded resident of £5,925 and that the cost to the Charity over the previous year had been £112,579. Until ESCC placement rates were brought more into line with the actual costs of providing the service, Old Hastings House would not accept any more ESCC placements other than in exceptional circumstances. In consequence the number of ESCC_ funded residents has declined from 19 in January 2019 to 11 in March 2021.
Public benefit
The provision of residential care at OHH is of unalloyed public benefit. It is operated on a not for profit basis with no charge levied to meet the cost of capital. It has been the policy of the Trustees if practicable to have a preponderance of publicly funded residents. In practice the policies of ESCC have made this target increasingly difficult and now impossible to achicve for the time being [sec above]. This is in part because references from the Council are increasingly so frail (mentally and physically) as to be beyond the capability of the Home to care for, and partly because the fees they offer are so far below the actual costs incurred in accommodating the residents that the cash losses are becoming more and more difficult to sustain. Currently the ratio is about 76% privately-funded and 24% publicly-funded. The fees are substantially below most other residential care homes in the locality and offer the best value for money. There are no charges for rent or cost of capital, which represents a substantial subsidy for each resident. Whatever the size or outlook of the room the charge is the same and there are no charges for "extras". The standards of all aspects of OHH are the highest.
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
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OBJECTIVES AND ACTIVITIES
Recent and Future Developments
After the successfull application to the Charity Commission to simplify and modernise the Charity's constitution, the Trustees turned their attention to redefining the relationship between The General Fund and Old Hastings House in the light ofthe substantial growth in the turnover and contingent liabilities of the latter. With the agreement and assistance of the Charity Commission Old Hastings House was hived off from the main charity and with effect from 1 January 2015 to become The Magdalen & Lasher Old Hastings House Charitable Incorporated Organisation. As with the Magdalen & Lasher Education Foundation, Magdalen & Lasher Old Hastings House CIO shares its governance and administration arrangements with those of the General Fund. The new entity owns the buildings and assets of Old Hastings House and is entirely responsible for their upkeep and repair. It is financially autonomous and the General Fund is no longer financially liable for Old Hastings House. The financial reserves appropriate to Old Hastings House were transferred to the new entity.
In the light of the increasing demand for accommodation with care for frail elderly people, the Trustees have considered ways and means of providing more capacity for higher care residents within Old Hastings House. The Magdalen Suite (opened in 2011) has provision for 15 residents. Plans to construct a new Sitting/dining room to facilitate the incorporation of nine bedrooms on the Red Floor into the Magdalen Suite are well advanced. Planning permission and listed building consent have been obtained. The cost of the development will be of the order £700,000 plus VAT and fees. This will be met from the Charity's reserves and from a grant from the Magdalen & Lasher General Fund.
In March 2020 OHH gained accreditation for the Gold Standard Framework in End ofLife Care, a distinction shared with only one other healthcare provider in East Sussex.
In March 2020 in response to the Coronavirus crisis OHH was placed in lock-down in accordance with government guidelines. This was lifted in June and re-imposed in December. The second lock-down extended beyond the financial year. Although (uniquely among local care homes) OHH remained free of Covid19 infections, attrition through illness and mortality from other causes resulted in our losing ten residents during the period. Recruitment of new residents proved impossible for several months. The consequent reduction in income without a corresponding reduction in costs placed the finances under severe pressure. This situation was aggravated by the additional costs of testing and infection control measures. Fortunately, a series of government grants alleviated the pressure until it became possible to resume the recruitment of residents once more. The lock-down necessitated the closure of the House to all but essential visitors. Despite these constraints, morale among residents and staff held up remarkably well. The staff responded to the crisis with selfless dedication and professionalism, and it is to their credit above all that OHH emerged more or less unscathed from the pandemic. All the residents save two received double vaccinations and over 90 of the 104 staff have been vaccinated by the end of the year.
FINANCIAL REVIEW
Financial Review
As described further under the Recent and Future Developments heading below, the CIO was created to operate Old Hastings House which had previously operated as part of the activities of The Magdalen & Lasher General Fund. All assets and liabilities relating to the activity were transferred to the new CIO with an effective date of 1st April 2015.
The statement of financial activities reports the results for the year and also the equivalent details for the previous year in order to provide a greater understanding of the year's results.
The gross income received this year by the Charity amounted to £2,087,709 while expenditure was £1,989,695. The Trustees had budgeted for break even, but made a surplus of £97,715 (4.68% of income).
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
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FINANCIAL REVIEW
Investment policy
Other than property and cash at bank, all the assets of the Charity are invested with the Charities Official Investment Fund (COIF). All sales and purchases are made by the Management Committee in accordance with the Charity's Scheme of Delegations.
The COIF share investments are in accumulation funds. A Residents' Amenity Fund (known as the Honour Cooper Fund after an early benefactor) is also maintained with funds invested with CCLA. The Trustees consider that their policy to use COIF is giving the Charity both a good return and stability in the market.
Reserves policy
The free reserves, which are those unrestricted funds not invested in tangible fixed assets or properties held for investment, designated for specific purposes or otherwise committed, are represented by net current assets and funds held on deposit with CCLA. Treasury management of the Charity's cash reserves is delegated to the Old Hastings House Management Committee. The Trustees formally consider the Charity's cash reserves at each of their meetings.
At 31 March 2021 the free cash totalled £889,067, of which £142,108 was working capital and £765,750 invested reserves. Trustees view the present level of reserves as a minimum level and intend whenever possible to increase the Charity's cash reserves. Trustees remain conscious of the need to hold sufficient reserves to manage risk and to provide for future investment, and yet take account of the present meagre return on cash reserves due to low interest rates. However, they intend to fund the planned expansion of the Magdalen Suite by drawing on the reserves, which will substantially deplete them. The reserves will also serve as a resource to be drawn upon in the event of financial losses incurred as a result of the Covid 19 crisis.
Funding
The Charity's principal source of funds is the fee income from residents. Other income is from the rent received on the ground floor flat at 4 Old London Road, interest from investments, incidental charges (e.g. for meals taken by visitors), the proceeds of coffee mornings and fetes, and occasional donations and bequests
The Use of Volunteers
At Old Hastings House the Charity uses several volunteers to drive a Minibus, used to take the residents out on local trips. The volunteers are unpaid. All hold the requisite driving licence and are insured centrally. There is a Chaplain, Brother Aelred Partridge A Cist, BA who is retained on an unpaid basis. There are 5 volunteers who help with coffee mornings and other similar occasions, Political Contributions The Charity made no political contributions.
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
i STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is run by a Board of Trustees which delegates its operational functions to the Old Hastings House Management Committee. The Chairman of the Charity is Clive Galbraith. Gareth Bendon is the Chairman of the OHH Management Committee. The management committee, and the Administrator of the Charity, who is Mrs Marcia Woolf, assisted by Mrs Joanna Thomas and Mrs Natasha Seymour, and the Manager, who is Mr Jason Denny, run the day-to-day operations.
The Charity originated prior to 21 March 1294 but is now governed by a scheme of the Charity Commissioners made on 3 December 2014. See the Section on Recent Developments for further information.
Related parties
The Charity's Trustees are also Trustees of the Magdalen & Lasher Educational Foundation and the Magdalen & Lasher General Fund.
Risk management
The Management Committee has considered the major risks to which the Charity is exposed and has established systems and procedures to manage those risks. The Trustees keep their risk policy under regular review and act as necessary (see also Reserves Policy above).
STATEMENT OF TRUSTEES’ RESPONSIBILITIES The Trustees are required under the constitution of the Charity to prepare financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK GAAP).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statement for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application ofresources ofthe charity for that period. In preparing those financial statements the Trustees are required to: a) select suitable accounting policies and apply them consistently;
b) observe the methods and principles in the applicable Charities SORP;
c) make judgements and estimates that are reasonable and prudent;
d) state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements; and
e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for maintaining proper 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 taking reasonable steps for the detection and prevention of fraud and other irregularities. The Trustees of the Charity must, in determining how amounts are presented within items in the statement of financial activities the balance sheet and the cash flow statement have regard to the substance of the reported transactions or arrangement, in accordance with the generally accepted accounting principles and practice.
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
tgs Approved by order ofthe board oftrustees on24(/}| YUsessefereseeee-e and Signed on its behalf by: Mr Ca
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
Opinion
We have audited the financial statements of Magdalen & Lasher Charity - Old Hastings House, Charitable Incorporated Organisation (the 'charity') for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’.
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 March 2021 and of its incoming resources and application of resources, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
-
sufficient accounting records have not been kept; or
-
the financial statements are not in agreement with the accounting records and returns; or
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~ we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees’ Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
SSS
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
Our responsibilities for the audit of the financial statements We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We have assessed the susceptibility of the entity’s financial statements to material misstatement, including how fraud might occur, as low by way of enquiry, prior knowledge and current year analytical review and testing
We have enquired with management and those charged with governance to obtain an understanding of the legal and regulatory framework applicable to the entity and, through our audit testing, our findings have confirmed that the entity is complying with the relevant frameworks
We have enquired with management and those charged with governance to obtain an understanding of the entity’s policies and procedures relating to compliance with laws and regulations. Through our testing, we have reviewed all relevant documentation and confirm that there have been no instances of non- compliance
Through enquiry, analytical review, walkthrough testing and substantive testing we have obtained an understanding of the entity’s policies and procedures on fraud risks, including knowledge of any actual, suspected or alleged fraud.
We have confirmed that the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations and fraud
Listed above is the extent of procedures we have taken to detect material misstatements in respect of irregularities, including fraud, to which we have found no instances.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
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Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. ( vod Prolg sso“| Pehevshevsp LLP Acuity Professional Partnership LLP Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Unit 2.02 High Weald House
Glovers End Bexhill East Sussex TN39 5ES
Date: Role REt Ost
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
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||||||||
|---|---|---|---|---|---|---|
|2021|2020|
|Unrestricted|Restricted|Total|Total|
|fund|fund|funds|funds|
|Notes|£|¥|£|£|
|INCOME AND ENDOWMENTS|FROM|
|Donations and legacies|2|185,336|1,693|187,029|200|
|Charitable|activities|4|
|Residential Home fees|1,859,058|-|1,859,058|1,850,077|
|Investment income|3|2,675|903|3,578|3,406|
|Other income|37,745|-|37,745|39,698|
|Total|2,084,814|2,596|2,087,410|1,893,381|
|EXPENDITURE|ON|
|Charitable|activities|||
|Residential|Home Running|Costs|1,899,600|1,054|1,900,654|1,808,915|
|Other|expenditure|89,041|-|89,041|85,157|
|Total|1,988,641|1,054|1,989,695|1,894,072|
|Net gains/(losses) on investments|124,975|39,053|164,028|(3,964)|
|NET INCOME/(EXPENDITURE)|221,148|40,595|261,743|(4,655)|
|RECONCILIATION|OF FUNDS|
|Total funds|brought forward|3,395,901|121,339|3,517,240|3,521,895|
|TOTAL FUNDS CARRIED FORWARD|3,617,049|161,934|3,778,983|3,517,240|
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The notes form part of these financial statements
aSS
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
STATEMENT OF FINANCIAL POSITION
31 MARCH 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Notes | £ | £ | ||
| FIXED ASSETS | ||||
| Tangible assets | 11 | 2,650,709 | 2,588,818 | |
| Investments | ||||
| Investments | 12 | 758,666 | 594,638 | |
| Investment property | 13 | 227,500 | 227,500 | |
| 3,636,875 | 3,410,956 | |||
| CURRENTASSETS | ||||
| Stocks Debtors |
14 15 |
6,000 197,600 |
6,000 206,829 |
|
| Cash at bank | 36,202 | 68,801 | ||
| 239,802 | 281,630 | |||
| CREDITORS | ||||
| Amounts falling duewithin oneyear | 16 | (97,694) | (175,346) | |
| ' | NETCURRENTASSETS | 142,108 | 106,284 | |
| TOTALASSETSLESS CURRENT | ||||
| LIABILITIES | 3,778,983 | 3,517,240 | ||
| NETASSETS | 3,778,983 | 3,517,240 | ||
| FUNDS | 19 | |||
| Unrestricted funds: | ||||
| General fund | 3,617,049 | 3,395,901 | ||
| Restricted funds: | ||||
| Honor Cooper | 161,934 | 121,339 | ||
| TOTALFUNDS | 3,778,983 | 3,517,240 | ||
| ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueonocAAA and weresigned on its behalfby: |
||||
| MrCGalbraith>-Trustee | 76 | |||
| ae |
The notes form part ofthese financial statements
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021
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|||||||||
|---|---|---|---|---|---|---|---|
|2021|2020|
|Notes|£|£|
|Cash|flows|from|operating|activities|
|Cash|generated|from|operations|1|85,166|(44,379)|
|Net cash|provided by/(used|in) operating|activities|85,166|(44,379)|
|Cash|flows|from|investing|activities|
|Purchase of|tangible|fixed|assets|(76,343)|-|
|Dividend, Interest & Rent from|investment|3,578|3,406|
|Net|cash|(used|in)/provided|by investing|activities|(72,765)|3,406|
|Cash|flows from|financing|activities|
|New loans|in|year|-|45,000|
|Loan|repayments|in|year|(45,000)|-|
|Net cash|(used|in)/provided|by financing|activities|(45,000)|45,000|
|Change|in|cash|and|cash|equivalents|in|the|
|reporting|period|(32,599)|4,027|
|Cash and|cash|equivalents|at the|beginning|
|of the|reporting|period|68,801|64,774|
|Cash|and|cash|equivalents|at|the end|of the|
|reporting period|36,202|68,801|
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The notes form part of these financial statements
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| ACTIVITIES | ||||
|---|---|---|---|---|
| 2021 | 2020 | |||
| £ | £ | |||
| Netincome/(expenditure) for the reporting period (as per the Statement | ||||
| ofFinancial Activities) | 261,743 | (4,655) | ||
| Adjustments for: | ||||
| Depreciation charges | 14,452 | 16,199 | ||
| (Gain)/losseson investments | (164,028) | 3,964 | ||
| Dividend,Interest &Rentfrom investment | (3,578) | (3,406) | ||
| Decrease/(increase) in debtors | 9,229 | (62,304) | ||
| (Decrease)/increase in creditors | (32,652) | 5,823 | ||
| Netcash provided by/(used in) operations | 85,166 | (44,379) | ||
| 2. | ANALYSIS OFCHANGES IN NETFUNDS | |||
| At 1.4.20 | Cash flow | At31.3.21 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash atbank | 68,801 | (32,599) | 36,202 | |
| 68,801 | (32,599) | 36,202 | ||
| Debt | ||||
| Debts falling duewithin 1 year | (45,000) | 45,000 | - | |
| (45,000) | 45,000 | 3 | ||
| Total | 23,801 | 12,401 | 36,202 |
The notes form part of these financial statements
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
- ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. The Magdalen & Lasher Charity - Old Hastings House, Charitable Incorporated Organisation is a charitable company limited by guarantee and incorporated in England and Wales. In the event of the charity being wound up. The liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information appended to these financial statements. The nature of the charity's operations and principle activity is that of managing Old Hastings House. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
INCOME RESOURCES
All income resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this require a level of performance before entitlement can be obtained then the income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the chanty. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. The trustees approach to income recognition is to include thirteen four weekly charges to it's residents in each accounting year, no adjustment is made where income overlaps the year end so as not to distort the results in any years accounts.
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021
Is
- ACCOUNTING POLICIES- continued
INCOME RESOURCES
Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends. interest and rent, Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity's right to receive payment is established.
EXPENDITURE RECOGNITION
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
Costs of raising funds includes expenses directly related to fund raising, such as advertising a fundraising event; Expenditure on charitable activities includes expenses involved in the running of charitable projects, such as staff salaries; other expenditure represents those items not falling into the categories above.
TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 7.5% on reducing balance Motor vehicles - 25% on reducing balance Computer equipment - 33% on cost
The freehold property was last valued in 2002 and is not depreciated as the useful life ofthe building is considered to be more than 50 years and any depreciation charge is considered to be immaterial.
INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
TAXATION
The Trust is a registered charity and therefore no liability to taxation arises.
FUND ACCOUNTING
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the report of trustees.
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021
=n
1. ACCOUNTING POLICIES- continued
FUND ACCOUNTING
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific Fund.The aim and use of each specific fund is set out in the notes to the financial statements.
PENSION COSTS
The charity operates the required pension scheme for employees.
GOING CONCERN
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
FIXED ASSET INVESTMENTS
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
GOVERNMENT GRANTS
Grants receivable under the government's Job Retention Scheme are recognised as government grants within donations and legacies income, within the statement of financial activities when there is reasonable assurance that the entity will comply with the conditions attached to the grant and that the grant income will be received. Grant income relating to the Job Retention Scheme will be recognised in the period to which the underlying furloughed staff costs relate to and when the payroll liability has been incurred by the company. Amounts not received by the reporting date are included in other debtors.
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25, DONATIONS AND LEGACIES
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| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | |||
| Donations | 2,692 | 200 | ||
| Government Grants reCOVID | 184,337 | - | ||
| 187,029 | 200 | |||
| Grants received, included in the | above, are as follows: | |||
| 2021 | 2020 | |||
| £ | £ | |||
| Othergrants | 184,337 | - | ||
| See | ee ee | eeee | ee | |
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NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021
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|||||||
|---|---|---|---|---|---|
|3.|INVESTMENT INCOME|
|2021|2020|
|£|£|
|Interest received|3,578|3,406|
|4,|INCOME|FROM CHARITABLE|ACTIVITIES|
|2021|2020|
|Activity|£|£|
|Residential|home fees|Residential Home|fees|1,859,058|1,850,077|
|5:|CHARITABLE|ACTIVITIES|COSTS|
|Support|
|Direct|costs|(see|
|Costs|note|6)|Totals|
|£|£|£|
|Residential|Home Running|Costs|1,900,654|-|1,900,654|
|Other|expenditure|14,452|74,589|89,041|
|1,915,106|74,589|1,989,695|
|6.|SUPPORT COSTS|
|Governance|
|Finance|Other|costs|Totals|
|£|£|£|£|
|Other expenditure|2,212|65,177|7,200|74,589|
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Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities on a basis consistent with use of resources. Premises overheads have been allocated by a calculation based on the amount of time that an activity uses a facility and the floor area occupied by that activity and other overheads have been allocated on a staff hours basis.
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NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021
MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
7, AUDITORS' REMUNERATION
The charity has accrued for the Audit fees for the year which amount to £7,200 (2020: £7,200).
- TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
TRUSTEES' EXPENSES
There were no trustees’ expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
- STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Wagesand salaries | 1,475,150 | 1,435,834 |
| Otherpension costs | 46,681 | 45,712 |
| 1,521,831 | 1,481,546 |
| Theaveragemonthlynumberof employees during theyearwas as follows: | ||
|---|---|---|
| 2021 | 2020 | |
| Careanddomestic staff | 87 | 105 |
| Administration andmanagement | 3 | 3 |
| 90 | 108 |
No employees received emoluments in excess of £60,000.
The charity operates a pension scheme managed by Source Pensions and the administration is managed by Prism to all qualifying employees.
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021
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|||||||
|---|---|---|---|---|---|
|a|
|10.|COMPARATIVES FOR THE STATEMENT|OF FINANCIAL|ACTIVITIES|
|Unrestricted|Restricted|Total|
|fund|fund|funds|
|£|£|£|
|INCOME AND ENDOWMENTS FROM|
|Donations and|legacies|(649)|849|200|
|Charitable|activities|
|Residential Home|fees|1,850,077|-|1,850,077|
|Investment|income|416|2,990|3,406|
|Other|income|39,698|-|39,698|
|Total|1,889,542|3,839|1,893,381|
|EXPENDITURE|ON|
|Charitable|activities|
|Residential|Home Running|Costs|1,826,211|(17,296)|1,808,915|
|Other expenditure|85,157|-|85,157|
|Total|1,911,368|(17,296)|1,894,072|
|Net gains/(losses)|on|investments|(1,379)|(2,585)|(3,964)|
|NET INCOME/(EXPENDITURE)|(23,205)|18,550|(4,655)|
|RECONCILIATION|OF FUNDS|
|Total funds brought forward|3,419,106|102,789|3,521,895|
|TOTAL FUNDS CARRIED FORWARD|3,395,901|121,339|3,517,240|
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
FORNOTES THE TO YEAR THE ENDEDFINANCIAL31 MARCH STATEMENTS 2021 - continued
nee
11, TANGIBLE FIXED ASSETS
| Fixtures | |||||
|---|---|---|---|---|---|
| Cost | Freehold property £ |
and fittings £ |
Motor vehicles £ |
Computer equipment £ |
Totals £ |
| At 1 April 2020 Additions |
2,417,346 76,343 |
367,372 - |
24,890 - |
9,872 ~ |
2,819,480 76,343 |
| At31 March 2021 | 2,493,689 | 367,372 | 24,890 | 9,872 | 2,895,823 |
| Depreciation | |||||
| At 1 April2020 Charge foryear |
- “ |
204,997 12,178 |
15,793 2,274 |
9,872 ~ |
230,662 14,452 |
| At31 March2021 | - | 217,175 | 18,067 | 9,872 | 245,114 |
| Net book value | |||||
| At31 March 2021 | 2,493,689 | 150,197 | 6,823 | - | 2,650,709 |
| At31March2020 | 2,417,346 | 162,375 | 9,097 | - | 2,588,818 |
The Freehold Property used directly for charitable purposes throughout the period consists of: Old Hastings House, High Street, Hastings 4 Old London Road, Hastings
The property at 4 Old London Road is included within Investment Property and the rent collected is included in the residential home fee income.
The trustees consider the market value of the freehold property to be £6million. This figure is based upon the cost of the extension of approximately £100,000 for each additional resident's room and the current average market value for residential care homes.
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ORGANISATION
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021
ee
12. FIXED ASSET INVESTMENTS
| 12. | FIXED ASSET INVESTMENTSASSET INVESTMENTSINVESTMENTS | |
|---|---|---|
| Listed | ||
| investments | ||
| Marketvalue | £ | |
| At 1 April2020 Revaluations |
594,638 164,028 |
|
| At31 March2021 | 758,666 | |
| Net book value | ||
| At31 March2021 | 758,666 | |
| At31 March 2020 | 594,638 | |
| There wereno investment assets outside theUK. | ||
| Costor valuation at31 March 2021 isrepresented by: | ||
| Listed | ||
| investments | ||
| Valuation in2020 Valuation in2021 |
£ 594,638 164,028 |
|
| 758,666 | ||
| 13. | INVESTMENTPROPERTY | |
| Fair value | £ | |
| At 1 April 2020 | ||
| and31 March2021 | 227,500 | |
| Net bookvalue | ||
| At31 March 2021 | 227,500 | |
| At31March2020 | 227,500 |
The investment property was transferred from The Magdalen & Lasher Charity General Fund at its carrying value. The market value was determined by the trustees.
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
FORNOTES THE TO YEAR THE FINANCIAL ENDED 31 MARCH STATEMENTS2021 - continued
| NOTES THE TO YEAR THE FINANCIAL ENDEDTO YEAR THE FINANCIAL ENDEDTHE FINANCIAL ENDEDFINANCIAL ENDEDSTATEMENTS2021- continued FORNOTES THE TO YEAR THE FINANCIAL ENDEDTHE TO YEAR THE FINANCIAL ENDEDYEAR THE FINANCIAL ENDEDENDED 31 MARCH STATEMENTS2021MARCH STATEMENTS2021 2021 |
NOTES THE TO YEAR THE FINANCIAL ENDEDTO YEAR THE FINANCIAL ENDEDTHE FINANCIAL ENDEDFINANCIAL ENDEDSTATEMENTS2021- continued FORNOTES THE TO YEAR THE FINANCIAL ENDEDTHE TO YEAR THE FINANCIAL ENDEDYEAR THE FINANCIAL ENDEDENDED 31 MARCH STATEMENTS2021MARCH STATEMENTS2021 2021 |
NOTES THE TO YEAR THE FINANCIAL ENDEDTO YEAR THE FINANCIAL ENDEDTHE FINANCIAL ENDEDFINANCIAL ENDEDSTATEMENTS2021- continued FORNOTES THE TO YEAR THE FINANCIAL ENDEDTHE TO YEAR THE FINANCIAL ENDEDYEAR THE FINANCIAL ENDEDENDED 31 MARCH STATEMENTS2021MARCH STATEMENTS2021 2021 |
NOTES THE TO YEAR THE FINANCIAL ENDEDTO YEAR THE FINANCIAL ENDEDTHE FINANCIAL ENDEDFINANCIAL ENDEDSTATEMENTS2021- continued FORNOTES THE TO YEAR THE FINANCIAL ENDEDTHE TO YEAR THE FINANCIAL ENDEDYEAR THE FINANCIAL ENDEDENDED 31 MARCH STATEMENTS2021MARCH STATEMENTS2021 2021 |
|---|---|---|---|
| i ee |
|||
| 14. | STOCKS | ||
| 2021 | 2020 | ||
| Stockofprovisionsandcleaning | £ 6,000 |
£ 6,000 |
|
| 15. | DEBTORS:AMOUNTSFALLINGDUEWITHINONE YEAR | ||
| 2021 | 2020 | ||
| Tradedebtors Prepaymentsandother debtors Accruals |
£ 80,357 12,679 104,564 |
£ 65,942 43,346 97,541 |
|
| 197,600 | 206,829 | ||
| 16. | CREDITORS:AMOUNTSFALLINGDUEWITHINONEYEAR | ||
| 2021 | 2020 | ||
| Other loans(seenote 17) Trade creditors Othercreditors Resident' feespaid inadvance Accrualsanddeferredincome |
£ - 32,462 10,448 42,582 12,202 |
£ 45,000 25,932 29,117 53,576 21,721 |
|
| 97,694 | 175,346 | ||
| 17. | LOANS | ||
| An analysis ofthematurity ofloans isgiven below: | |||
| 2021 | 2020 | ||
| Amounts falling duewithin oneyearon demand: | £ | £ | |
| Other loans | - | 45,000 |
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021
eee
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||||||||||
|---|---|---|---|---|---|---|---|---|
|18.|ANALYSIS|OF NET ASSETS BETWEEN FUNDS|
|2021|2020|
|Unrestricted|Restricted|Total|Total|
|fund|fund|funds|funds|
|Fixed|£|£|£|£|
|assets|2,650,709|~|2,650,709|2,588,818|
|Investments|861,533|124,633|986,166|822,138|
|Current assets|202,501|37,301|239,802|281,630|
|Current|liabilities|(97,694)|-|(97,694)|(175,346)|
|3,617,049|161,934|3,778,983|3,517,240|
|19.|MOVEMENT|IN FUNDS|
|Net|
|movement|At|
|At|1.4.20|in|funds|31.3.21|
|Unrestricted|funds|£|£|£|
|General|fund|3,395,901|221,148|3,617,049|
|Restricted|funds|
|Honor Cooper|121,339|40,595|161,934|
|TOTAL FUNDS|3,517,240|261,743|3,778,983|
|Net movement|in|funds,|included|in|the above|are|as|follows:|
|Incoming|Resources|Gains and|Movement|
|resources|expended|losses|in|funds|
|Unrestricted|funds|£|£|£|£|
|General|fund|2,084,814|(1,988,641)|124,975|221,148|
|Restricted|funds|
|Honor|Cooper|2,596|(1,054)|39,053|40,595|
|TOTAL FUNDS|2,087,410|(1,989,695)|164,028|261,743|
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021
OSS
19. MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
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||||||
|---|---|---|---|---|
|Net|
|movement|At|
|At|1.4.19|in|funds|31.3.20|
|Unrestricted|funds|£|£|£|
|General|fund|3,419,106|(23,205)|3,395,901|
|Restricted|funds|
|Honor Cooper|102,789|18,550|121,339|
|TOTAL FUNDS|3,521,895|(4,655)|3,517,240|
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Comparative net movement in funds, included in the above are as follows:
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|||||||
|---|---|---|---|---|---|
|Incoming|Resources|Gains and|Movement|
|resources|expended|losses|in|funds|
|Unrestricted|funds|£|£|£|£|
|General|fund|1,889,542|(1,911,368)|(1,379)|(23,205)|
|Restricted|funds|
|Honor Cooper|3,839|17,296|(2,585)|18,550|
|TOTAL FUNDS|1,893,381|(1,894,072)|(3,964)|(4,655)|
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A current year 12 months and prior year 12 months combined position is as follows:
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||||||
|---|---|---|---|---|
|Net|
|movement|At|
|At|1.4,19|in|funds|313.21|
|Unrestricted|funds|£|£|£|
|General|fund|3,419,106|197,943|3,617,049|
|Restricted|funds|
|Honor Cooper|102,789|59,145|161,934|
|TOTAL FUNDS|3,521,895|257,088|3,778,983|
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
FORNOTES THE TO YEAR THE FINANCIAL ENDED 31 MARCH STATEMENTS2021 - continued
————e————
- |MOVEMENT IN FUNDS- continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
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|||||||
|---|---|---|---|---|---|
|Incoming|Resources|Gains and|Movement|
|resources|expended|losses|in funds|
|Unrestricted|funds|=|£|£|£|
|General fund|3,974,356|(3,900,009)|123,596|197,943|
|Restricted|funds|
|Honor Cooper|6,435|16,242|36,468|59,145|
|TOTAL FUNDS|3,980,791|(3,883,767)|160,064|257,088|
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- RELATED PARTY DISCLOSURES
No Trustees received remuneration nor were any expenses claimed in the year.
The Trustee are also responsible for the activities of Magdalen and Lasher Educational Foundation and Magdalen & Lasher - General Fund.
During the year the charity had the following related party transactions;
Magdalen & Lasher - General Fund and Magdalen & Lasher Educational Foundation
Contribution to payroll and office costs - £29,916 (2020 - £29,215)
As at the year-end the charity owed £nil (2020 - £45,000) to Magdalen & Lasher General Fund in respect ofa loan made to the charity. The loan was fully repaid in the year.
These transactions were in respect of charitable purposes and in accordance with the charity's objects.
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MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
RR
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| INCOMEANDENDOWMENTS | ||
| Donations and legacies | ||
| Donations Government GrantsreCOVID |
2,692 184,337 |
200 - |
| 187,029 | 200 | |
| Investment income | ||
| Interestreceived | 3,578 | 3,406 |
| Charitable activities | ||
| Residential homefees | 1,859,058 | 1,850,077 |
| Other income | ||
| Nonresident'smeals Resident's fundraising M&LcontributionOHHpayroll contribution M&LcontributionOHHoffice costs Otherincome Incomefrom4OldLondonRoad |
85 454 19,548 10,368 40 7,250 |
135 3,921 19,090 10,125 452 5,975 |
| 37,745 | 39,698 | |
| Totalincomingresources | 2,087,410 | 1,893,381 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wagesandsocialsecuritycost Pensioncontributions Water Insurance Lightandheat Telephoneandinternet Sundries Provisions andcleaningmaterials Carried forward |
1,429,109 46,681 18,514 11,733 43,431 2,135 - 100,643 1,652,246 |
1,392,431 45,712 21,719 10,317 46,966 2,839 4,923 101,914 1,626,821 |
This page does not form part of the statutory financial statements
Sr Page 27
MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
----- Start of picture text -----
||||||
|---|---|---|---|---|
|a|a|
|2021|2020|
|Charitable|activities|£|£|
|Brought forward|1,652,246|1,626,821|
|Medical Expenses|202|79|
|Resident's comforts|6,837|8,646|
|Health and safety expense|14,334|14,374|
|Cleaning and waste disposal|50,228|35,301|
|Garden expenses|6,841|5,867|
|Registration fee and|subscriptions|17,000|10,455|
|Property repairs and maintenance|103,044|51,963|
|Council tax|2,058|2,050|
|Motor expenses|1,333|1,782|
|Minibus costs|812|1,683|
|Repairs and renewals|22,853|23,575|
|Legal|fees|760|-|
|Other staff costs|including training|21,052|25,183|
|Residents'|outings and comfort|1,054|1,136|
|Fixtures and fittings|12,178|13,166|
|Motor vehicles|2,274|3,033|
|1,915,106|1,825,114|
|Support|costs|
|Finance|
|Bank charges|2,212|2,391|
|Other|
|Wages and|social|security|46,041|43,403|
|Postage and stationery|10,297|8,091|
|Advertising|124|264|
|Computer running|costs|8,715|7,609|
|65,177|59,367|
|Governance|costs|
|Auditors' remuneration|7,200|7,200|
|Total resources|expended|1,989,695|1,894,072|
|Net income/(expenditure)|97,715|(691)|
----- End of picture text -----
This page does not form part of the statutory financial statements
SS
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