**REGISTERED CHARITY NUMBER: 1158933**
## **REPORT OF THE TRUSTEES AND**
## **AUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2025**
## **FOR**
## **MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
Ad Valorem Audit Services Limited Chartered Certified Accountants & Statutory Auditors 2 Manor Farm Court Old Wolverton Road Old Wolverton Milton Keynes Buckinghamshire MK12 5NN
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Report of the Trustees**|2|to|5|
|**Report of the Independent Auditors**|6|to|9|
|**Statement of Financial Activities**||10||
|**Statement of Financial Position**||11||
|**Statement of Cash Flows**||12||
|**Notes to the Statement of Cash Flows**||13||
|**Notes to the Financial Statements**|14|to|25|
|**Detailed Statement of Financial Activities**|26|to|28|
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025**
|**TRUSTEES**|Mr K S Donaldson|Mr K S Donaldson|
|---|---|---|
||Mr G Bendon (resigned 11/6/2024)||
||Mr I M Steel||
||Mr M Foster||
||Mr C Galbraith Chairman||
||Mrs S Phillips||
||Mrs A Wing||
||Cllr J Bacon||
||Dr P Lock||
||Mr J Bilsby||
||Mr M Boles||
||Rev M Phipps||
||Mr I Gallagher||
||J|A Rogers|
||Mr A B Pope (appointed 1/6/2025)||
|**PRINCIPAL ADDRESS**|Unit 27||
||The Innovation Centre||
||Highfield Drive||
||St Leonards On Sea||
||East Sussex||
||TN38 9UH||
|**REGISTERED CHARITY**|1158933||
|**NUMBER**|||
|**AUDITORS**|Ad Valorem Audit Services Limited||
||Chartered Certified Accountants & Statutory||
||Auditors||
||2|Manor Farm Court|
||Old Wolverton Road||
||Old Wolverton||
||Milton Keynes||
||Buckinghamshire||
||MK12 5NN||
|**TRUSTEES EMERITUS**|A Slack||
||G R D Kellie||
Page 1
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. 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).
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.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and activities**
In its report for the 2024 accounts the Trustees signalled that unless the occupancy rate improved significantly and thus the home's finances returned to a break-even position as, at the then current position they were unsustainable, the Charity would look to alter the way it supported social care from the direct running a care home to a more indirect method. The Charity's auditors had also advised that things needed to improve significantly and speedily as the current situation could not continue.
For background the key turning point for the home was the COVID pandemic since which time the home had been significantly under-occupied leading to the six-figure loss in 2024, depletion of the home's reserves, the need for several injections of cash loans and a significant grant from the main Charity. With no signs of improvement, the Trustees decided early in the year that the main Charity could no longer prop up the home and the OHH asset should be sold and if successful the proceeds would be used to support social care for the needy of Hastings in a more indirect way. This decision was arrived at with all Trustees voting in favour save for one abstention.
Accordingly, the Trustees engaged professional specialists to value the home and put it on the market for a trade sale as a going concern. Following a number of expressions of interest detailed negotiations were carried out over several months eventually leading to the sale of the home on 3 March 2025 to a commercial company, Simicare. Simicare are specialists in the care home sector and in fact already owned a nursing home in the vicinity of OHH. The sale embodied numerous safeguards including continued employment for all the staff under the TUPE regulations and unchanged care provision for the home's residents.
Whilst the sale process progressed the OHH Management Committee, reporting to the Board of Trustees continued to:
- maintain the fabric, facilities and quality of service to residents; and
- keep the established ratio of privately and publicly funded residents.
Staff turnover remained low, and all staff had appropriate vocational qualifications and new staff were required to acquire them.
During the year the Charity used 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. A chaplain, Brother Aelred Partridge A Cist, BA continued to be retained on an unpaid basis. There were also five volunteers who helped with coffee mornings and other similar occasions.
Page 2
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
## **FINANCIAL REVIEW Financial Review**
Until the date of the sale:
- the gross income received this year by the Charity amounted to £2,507,540 while expenditure was (including gains on investments) £3,408,742 resulting in a global deficit of £901,202.
- the Charity's principal source of funds was the fee income from residents. Other income was from rent received on the ground floor flat at 4 Old London Road (included in the sale), 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 Charity continued to use CCLA to manage its investments in the Charities Official Investment |Fund (COIF accumulation funds). Most of the donations given to commemorate former residents were directed into the Fund. The Trustees consider the policy to use COIF was giving the Charity both a good return and stability in the market, even in times of market turbulence.
- the Trustees continued to be concerned on the need to use OHH's diminishing reserves to bolster the home's continuing cash flow problems. The Magdalen and Lasher Charity General Fund remained committed to supporting the Charity when necessary but not permanently.
After a protracted process including detailed legal negotiations and consultation with the Care Quality Commission the sale of OHH was completed. The buildings and business were sold for £2,107,000 and after disbursements, debt repayment etc. the Trustees were able to deposit £1.5M in a CCLA managed fund whose future income will be used to provide relief to the elderly, primarily in the form of funding care costs.
## **Investment policy**
Other than property and cash at bank, all the assets of the Charity are invested with the Charities Official Investment Fund (COIF) which is managed by CCLA. 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. Most of the donations given to commemorate former residents are directed into the Fund. The Trustees consider that their policy to use COIF is giving the Charity both a good return and stability in the market, even in times of market turbulence.
## **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.
At 31 March 2025 the free reserves totalled £266,418 (2024: £138,513). Trustees view the present level of reserves as a minimum level and intend wherever possible to increase the Charity's cash reserves. The Trustees are currently reviewing the Charity's level of reserves and the Magdalen and Lasher Charity General Fund has committed to supporting the Charity for the foreseeable future.
## **Political Contributions**
The Charity made no political contributions.
Page 3
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
## **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 long-term Chairman of OHH Management Committee but due to ill health his role has more recently been shared by Clive Galbraith & John Bilsby.
The management committee, is assisted by the Administrator of the M&L Charity, who is Mrs Heather Suggitt, 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 of resources of the 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.
Page 4
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.................................................................... Mr C Galbraith - Trustee
Page 5
**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 2025 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 2025 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
- 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.
Page 6
**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:
- 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
- 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.
Page 7
**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.
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 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.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion,
omission or misrepresentation
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.
Page 8
**REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **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.
Ad Valorem Audit Services Limited Chartered Certified Accountants & Statutory Auditors 2 Manor Farm Court Old Wolverton Road Old Wolverton Milton Keynes Buckinghamshire MK12 5NN
Date: .............................................
Page 9
## **MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|**Notes**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**Charitable activities**
4
Residential Home fees
Investment income
3
Other income
**Total**
**EXPENDITURE ON**
**Charitable activities**
5
Residential Home fees
Residential Home Running Costs
Other expenditure
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**Unrestricted**
**fund**
**£**
**1,891**
**2,455,938**
**6,566**
**43,145**
**2,507,540**
**1,463,725**
**1,093,404**
**30,712**
**2,587,841**
**(167,055)**
**(247,356)**
**1,711,826**
**1,464,470**|**Restricted**
**funds**
**£**
**-**
**-**
**-**
**-**
**-**
**792,469**
**995**
**-**
**793,464**
**139,618**
**(653,846)**
**1,145,121**
**491,275**|**2025**
**Total**
**funds**
**£**
**1,891**
**2,455,938**
**6,566**
**43,145**
**2,507,540**
**2,256,194**
**1,094,399**
**30,712**
**3,381,305**
**(27,437)**
**(901,202)**
**2,856,947**
**1,955,745**|**2024**
**Total**
**funds**
**£**
139,071
2,293,173
6,607
44,333
2,483,184
-
2,392,630
96,587
2,489,217
(1,318,197)
(1,324,230)
4,181,177
2,856,947|
|---|---|---|---|---|
The notes form part of these financial statements
Page 10
## **MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **STATEMENT OF FINANCIAL POSITION 31 MARCH 2025**
|**Notes**
**FIXED ASSETS**
Tangible assets
11
**Investments**
Investments
12
Investment property
13
**CURRENT ASSETS**
Stocks
14
Debtors
15
Cash at bank
**CREDITORS**
Amounts falling due within one year
16
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
19
Unrestricted funds:
General fund
Restricted funds:
Honor Cooper
EMI Suite Extension
**TOTAL FUNDS**|**2025**
**£**
**-**
**1,615,930**
**-**
**1,615,930**
**-**
**98,047**
**266,418**
**364,465**
**(24,650)**
**339,815**
**1,955,745**
**1,955,745**
**1,464,470**
**453,334**
**37,941**
**491,275**
**1,955,745**|**2024**
**£**
2,252,878
143,365
227,500
2,623,743
6,000
236,061
138,513
380,574
(147,370)
233,204
2,856,947
2,856,947
1,711,826
314,710
830,411
1,145,121
2,856,947|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mr C Galbraith - Trustee
The notes form part of these financial statements
Page 11
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025**
|**Notes**
**Cash flows from operating activities**
Cash generated from operations
1
Net cash (used in)/provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of tangible fixed assets
Sale of fixed asset investments
Impairment of investment property
Dividend,Interest & Rent from investment
Net cash provided by/(used in) investing activities
**Cash flows from financing activities**
New loans in year
Net cash provided by financing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|**2025**
**£**
**(43,288)**
**(43,288)**
**-**
**(1,500,000)**
**1,664,629**
**(2)**
**-**
**6,566**
**171,193**
**-**
**-**
**127,905**
**138,513**
**266,418**|**2024**
**£**
1,329,495
1,329,495
(34,392)
-
-
105,002
(1,329,026)
6,607
(1,251,809)
40,000
40,000
117,686
20,827
138,513|
|---|---|---|
The notes form part of these financial statements
Page 12
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net expenditure for the reporting period (as per the Statement of**
**Financial Activities)**
**Adjustments for:**
Depreciation charges
Losses on investments
Loss on disposal of fixed assets
Dividend,Interest & Rent from investment
Impairment of property
Decrease in stocks
Decrease in debtors
Decrease in creditors
**Net cash (used in)/provided by operations**|**2025**
**£**
**(901,202)**
**-**
**27,437**
**815,749**
**(6,566)**
**-**
**6,000**
**138,014**
**(122,720)**
**(43,288)**|**2024**
**£**
(1,324,230)
11,802
1,318,197
-
(6,607)
1,329,026
-
20,419
(19,112)|
|---|---|---|
|||1,329,495|
## **2. ANALYSIS OF CHANGES IN NET FUNDS**
||**At 1.4.24**|**Cash flow**|**At 31.3.25**|
|---|---|---|---|
||**£**|**£**|**£**|
|**Net cash**||||
|Cash at bank|**138,513**|**127,905**|**266,418**|
||**138,513**|**127,905**|**266,418**|
|**Debt**||||
|Debts falling due within 1 year|**(40,000)**|**40,000**|**-**|
||**(40,000)**|**40,000**|**-**|
|**Total**|**98,513**|**167,905**|**266,418**|
The notes form part of these financial statements
Page 13
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. 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.
Investment income is earned through holding assets for investment purposes such as shares and property. lt 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.
continued...
Page 14
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **1. ACCOUNTING POLICIES - continued**
## **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 of the 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.
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.
continued...
Page 15
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **1. ACCOUNTING POLICIES - continued**
## **FIXED ASSET INVESTMENTS**
Fixed asset investments are initially measured at transaction price, 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.
## **2. DONATIONS AND LEGACIES**
|Donations
M&L Grant
Grants received, included in the above, are as follows:
M&L Grant
**INVESTMENT INCOME**
Interest received|**2025**
**£**
**1,891**
**-**
**1,891**
**2025**
**£**
**-**
**2025**
**£**
**6,566**|**2024**
**£**
39,071
100,000|
|---|---|---|
|||139,071|
|||**2024**
**£**
100,000|
|||**2024**
**£**
6,607|
## **3. INVESTMENT INCOME**
continued...
Page 16
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **4. INCOME FROM CHARITABLE ACTIVITIES**
|**Activity**
Residential home fees
Residential Home fees
**CHARITABLE ACTIVITIES COSTS**
Residential Home fees
Residential Home Running Costs
Other expenditure
**SUPPORT COSTS**
**Finance**
**£**
Residential Home Running Costs
**-**
Other expenditure
**2,281**
**2,281**|**Direct**
**Costs**
**£**
**2,256,194**
**1,065,445**
**-**
**3,321,639**
**Other**
**£**
**28,954**
**20,411**
**49,365**|**2025**
**£**
**2,455,938**
**Support**
**costs (see**
**note 6)**
**£**
**-**
**28,954**
**30,712**
**59,666**
**Governance**
**costs**
**£**
**-**
**8,020**
**8,020**|**2024**
**£**
2,293,173|**2024**
**£**
2,293,173|
|---|---|---|---|---|
||||**Totals**
**£**
**2,256,194**
**1,094,399**
**30,712**||
||||**3,381,305**||
|||||**Totals**
**£**
**28,954**
**30,712**|
|||||**59,666**|
## **5. CHARITABLE ACTIVITIES COSTS**
## **6. SUPPORT COSTS**
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.
## **7. AUDITORS' REMUNERATION**
The charity has accrued for the Audit fees for the year which amount to £6,300 (2024: £8,409,).
continued...
Page 17
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
## **TRUSTEES' EXPENSES**
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
## **9. STAFF COSTS**
|Wages and salaries
Other pension costs|**2025**
**£**
**1,968,049**
**46,541**
**2,014,590**|**2024**
**£**
1,862,586
53,759|
|---|---|---|
|||1,916,345|
The average monthly number of employees during the year was as follows:
|Care and domestic staff
Administration and management|**2025**
**91**
**2**
**93**|**2024**
116
2|
|---|---|---|
|||118|
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.
## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**Charitable activities**
Residential Home fees
Investment income
Other income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Residential Home Running Costs|**Unrestricted**
**fund**
**£**
101,130
2,293,173
6,607
44,333
2,445,243
2,391,535|**Restricted**
**funds**
**£**
37,941
-
-
-
37,941
1,095|**Total**
**funds**
**£**
139,071
2,293,173
6,607
44,333|
|---|---|---|---|
||||2,483,184|
||||2,392,630|
continued...
Page 18
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|Other expenditure
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**11.**
**TANGIBLE FIXED ASSETS**
**Freehold**
**property**
**£**
**Cost**
At 1 April 2024
**2,116,278**
Disposals
(**2,116,278**)
At 31 March 2025
**-**
**Depreciation**
At 1 April 2024
**-**
Eliminated on disposal
**-**
At 31 March 2025
**-**
**Net book value**
At 31 March 2025
**-**
At 31 March 2024
2,116,278|**Fixtures**
**and**
**fittings**
**£**
**386,132**
**(386,132)**
**-**
**252,410**
**(252,410)**
**-**
**-**
133,722||**Unrestricted**
**fund**
**£**
96,587
2,488,122
(1,468,073)
(1,510,952)
3,222,778
1,711,826
**Motor**
**vehicles**
**£**
**24,890**
**(24,890)**
**-**
**22,012**
**(22,012)**
**-**
**-**
2,878||**Restricted**
**funds**
**£**
-
1,095
149,876
186,722
958,399
1,145,121
**Computer**
**equipment**
**£**
**9,872**
**(9,872)**
**-**
**9,872**
**(9,872)**
**-**
**-**
-|**Total**
**funds**
**£**
96,587
2,489,217
(1,318,197)
(1,324,230)
4,181,177
2,856,947
**Totals**
**£**
**2,537,172**
**(2,537,172)**
**-**
**284,294**
**(284,294)**
**-**
**-**
2,252,878|
|---|---|---|---|---|---|---|
||||||||
||||||||
||||||||
||||||||
||||||||
The care home was sold during the year.
continued...
Page 19
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **12. FIXED ASSET INVESTMENTS**
|**Market value**
At 1 April 2024
Additions
Revaluations
At 31 March 2025
**Net book value**
At 31 March 2025
At 31 March 2024
There were no investment assets outside the UK.
Cost or valuation at 31 March 2025 is represented by:|**Listed**
**investments**
**£**
**143,365**
**1,500,000**
**(27,435)**
**1,615,930**
**1,615,930**
143,365|
|---|---|
|Valuation in 2022
Valuation in 2023
Valuation in 2024
Valuation in 2025
Cost
**INVESTMENT PROPERTY**
**Fair value**
At 1 April 2024
Disposals
At 31 March 2025
**Net book value**
At 31 March 2025
At 31 March 2024|**Listed**
**investments**
**£**
**243,624**
**(6,086)**
**(94,173)**
**(27,435)**
**1,500,000**
**1,615,930**
**£**
**227,500**
**(227,500)**
**-**
**-**
227,500|
|---|---|
|||
## **13. INVESTMENT PROPERTY**
The investment property was sold during the year.
continued...
Page 20
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
|**14.**
**STOCKS**
Stock of provisions and cleaning
**15.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Prepayments and other debtors
**16.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other loans (see note 17)
Trade creditors
Other creditors
Resident' fees paid in advance
Accruals and deferred income
**17.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Other loans|**2025**
**£**
**-**
**2025**
**£**
**98,047**
**-**
**98,047**
**2025**
**£**
**-**
**1,930**
**1,999**
**10,127**
**10,594**
**24,650**
**2025**
**£**
**-**|**2024**
**£**
6,000
**2024**
**£**
224,016
12,045|**2024**
**£**
6,000|
|---|---|---|---|
|||236,061||
|||**2024**
**£**
40,000
30,093
29,811
19,005
28,461||
|||147,370||
|||**2024**
**£**
40,000||
continued...
Page 21
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **18. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Fixed assets
Investments
Current assets
Current liabilities
**19.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Honor Cooper
EMI Suite Extension
**TOTAL FUNDS**
Net movement in funds, included in the above a
**Unrestricted funds**
General fund
**Restricted funds**
Honor Cooper
EMI Suite Extension
**TOTAL FUNDS**|**Unrestricted**
**fund**
**£**
**-**
**1,473,873**
**15,247**
**(24,650)**
**1,464,470**
re as follows:
**Incoming**
**resources**
**£**
**2,507,540**
**-**
**-**
**-**
**2,507,540**|**Restricted**
**funds**
**£**
**-**
**142,057**
**349,218**
**-**
**491,275**
**At 1.4.24**
**£**
**1,711,826**
**314,710**
**830,411**
**1,145,121**
**2,856,947**
**Resources**
**expended**
**£**
**(2,587,841)**
**(995)**
**(792,469)**
**(793,464)**
**(3,381,305)**|**2025**
**Total**
**funds**
**£**
**-**
**1,615,930**
**364,465**
**(24,650)**
**1,955,745**
**Net**
**movement**
**in funds**
**£**
**(247,356)**
**138,624**
**(792,470)**
**(653,846)**
**(901,202)**
**Gains and**
**losses**
**£**
**(167,055)**
**139,619**
**(1)**
**139,618**
**(27,437)**|**2024**
**Total**
**funds**
**£**
2,252,878
370,865
380,574
(147,370)
2,856,947
**At**
**31.3.25**
**£**
**1,464,470**
**453,334**
**37,941**
**491,275**
**1,955,745**
**Movement**
**in funds**
**£**
**(247,356)**
**138,624**
**(792,470)**
**(653,846)**
**(901,202)**|
|---|---|---|---|---|
continued...
Page 22
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **19. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**Restricted funds**
Honor Cooper
EMI Suite Extension
**TOTAL FUNDS**|**At 1.4.23**
**£**
3,222,778
165,930
792,469
958,399
4,181,177|**Net**
**movement**
**in funds**
**£**
(1,510,952)
148,780
37,942
186,722
(1,324,230)|**At**
**31.3.24**
**£**
1,711,826
314,710
830,411|
|---|---|---|---|
||||1,145,121|
||||2,856,947|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Honor Cooper
EMI Suite Extension
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
2,445,243
-
37,941
37,941
2,483,184|**Resources**
**expended**
**£**
(2,488,122)
(1,095)
-
(1,095)
(2,489,217)|**Gains and**
**losses**
**£**
(1,468,073)
149,875
1
149,876
(1,318,197)|**Movement**
**in funds**
**£**
(1,510,952)
148,780
37,942
186,722
(1,324,230)|
|---|---|---|---|---|
continued...
Page 23
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **19. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Honor Cooper
EMI Suite Extension
**TOTAL FUNDS**|**At 1.4.23**
**£**
3,222,778
165,930
792,469
958,399
4,181,177|**Net**
**movement**
**in funds**
**£**
(1,758,308)
287,404
(754,528)
(467,124)
(2,225,432)|**At**
**31.3.25**
**£**
1,464,470
453,334
37,941|
|---|---|---|---|
||||491,275|
||||1,955,745|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Honor Cooper
EMI Suite Extension
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
4,952,783
-
37,941
37,941
4,990,724|**Resources**
**expended**
**£**
(5,075,963)
(2,090)
(792,469)
(794,559)
(5,870,522)|**Gains and**
**losses**
**£**
(1,635,128)
289,494
-
289,494
(1,345,634)|**Movement**
**in funds**
**£**
(1,758,308)
287,404
(754,528)
(467,124)
(2,225,432)|
|---|---|---|---|---|
## **EMI Suite Extension**
The fund is restricted for the purpose of being used to contribute towards the ongoing construction of the EMI Suite extension.
continued...
Page 24
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **20. CAPITAL COMMITMENTS**
|**CAPITAL COMMITMENTS**|||
|---|---|---|
||**2025**|**2024**|
||**£**|**£**|
|Contracted but not provided for in the financial statements|**24,405**|24,405|
## **21. RELATED PARTY DISCLOSURES**
No Trustees received remuneration nor were any expenses claimed in the year.
The Trustees 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 - £32,667 (2024 - £34,629)
As at the year-end the charity owed £Nil (2024 - £40,000) to Magdalen & Lasher General Fund in respect of a loan made to the charity. The loan was repaid in financial year 2024/25.
A grant of £Nil (2024 - £100,000) was received and a donation of £1,891 (2024: £39,072) was received.
These transactions were in respect of charitable purposes and in accordance with the charity's objects.
Page 25
## **MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
M&L Grant
**Investment income**
Interest received
**Charitable activities**
Residential home fees
**Other income**
Non resident's meals
Resident's fundraising
M&L contribution OHH payroll contribution
M&L contribution OHH office costs
Other income
Income from 4 Old London Road
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages and social security cost
Pension contributions
Water
Insurance
Light and heat
Telephone and internet
Provisions and cleaning materials
Medical Expenses
Resident's comforts
Health and safety expense
Cleaning and waste disposal
Garden expenses
Carried forward|**2025**
**£**
**1,891**
**-**
**1,891**
**6,566**
**2,455,938**
**75**
**2,850**
**28,500**
**4,167**
**353**
**7,200**
**43,145**
**2,507,540**
**1,939,517**
**46,541**
**3,048**
**37,161**
**157,560**
**6,496**
**136,127**
**994**
**14,450**
**20,106**
**40,063**
**3,929**
**2,405,992**|**2024**
**£**
39,071
100,000|
|---|---|---|
|||139,071
6,607
2,293,173
30
2,934
22,743
11,886
450
6,290|
|||44,333|
|||2,483,184
1,812,278
53,759
3,597
26,144
162,514
13,244
136,094
1,402
13,713
21,599
41,249
5,906
2,291,499|
This page does not form part of the statutory financial statements
Page 26
## **MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|**Charitable activities**
Brought forward
Registration fee and subscriptions
Property repairs and maintenance
Council tax
Motor expenses
Minibus costs
Repairs and renewals
Legal fees
Other staff costs including training
Residents' outings and comfort
Fixtures and fittings
Motor vehicles
Loss on sale of tangible fixed assets
**Support costs**
**Finance**
Bank charges
**Other**
Wages and social security
Postage and stationery
Advertising
Computer running costs
**Governance costs**
Auditors' remuneration
Accountancy fee
Total resources expended
**Net expenditure before gains and losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset
investments
Carried forward|**2025**
**£**
**2,405,992**
**3,218**
**53,121**
**-**
**1,557**
**2,336**
**18,022**
**3,035**
**17,614**
**995**
**-**
**-**
**815,749**
**3,321,639**
**2,281**
**28,532**
**7,581**
**2,674**
**10,578**
**49,365**
**6,220**
**1,800**
**8,020**
**3,381,305**
**(873,765)**
**(2)**
**(873,767)**|**2024**
**£**
2,291,499
10,149
46,676
2,437
2,258
504
13,956
1,019
22,780
1,095
10,842
960
-
2,404,175
2,058
50,308
8,215
2,425
13,627
74,575
8,409
-
8,409
2,489,217
(6,033)
2
(6,031)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 27
**MAGDALEN & LASHER CHARITY - OLD HASTINGS HOUSE, CHARITABLE INCORPORATED ORGANISATION**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|**Realised recognised gains and losses**
Brought forward
Impairment of Property
**Net expenditure**|**2025**
**£**
**(873,767)**
**-**
**(873,767)**|**2024**
**£**
(6,031)
(1,329,026)
(1,335,057)|
|---|---|---|
This page does not form part of the statutory financial statements
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