Charity Registration Number: 1160902
THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
SOMERBYS LIMITED CHARTERED ACCOUNTANTS 30 NELSON STREET LEICESTER LE1 7BA
THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
CONTENTS
| PAGE | |
|---|---|
| Charity details | 1 |
| Annual report | 2 - 4 |
| Independent Examiner's Report to the Trustees | 5 |
| Statement of Financial Activities | 6 - 7 |
| Balance sheet | 8 |
| Notes to the accounts | 9 - 16 |
THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
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CHARITY DETAILS
Trustees Duchess of Rutland Rachel Emma Manners Duke of Rutland David Charles Robert Manners Mark A Woods Nicholas J Turner David R Wright Leigh Donger Rev. Stuart Foster Offices Belvoir Castle Belvoir Grantham NG32 1PE Independent Examiner Marcus W Dockerty FCA FCCA Somerbys Limited 30 Nelson Street Leicester LE1 7BA Registered Charity Number: 1160902
THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
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ANNUAL REPORT YEAR ENDED 31 MARCH 2025
Administration Details
The Earl of Rutland and Dr Flemings' Hospital Trust is a registered charity, incorporated on 16 March 2015 as a CIO. The registered office and charity number are shown on page 1.
Structure, Governance and Management
The charity is administered by a board of Trustees, as shown on page 1, who meet at least once a year.
The charity recognises that an effective board of Trustees is essential if the charity is to be effective in achieving its objectives. Trustees must have sufficient knowledge, both of trusteeship in general and of the charities activities, to enable them to carry out their role and represent the charity.
The charity will seek to appoint individuals to ensure diversity in its board and with the necessary skills to carry out the objectives of the charity. New Trustees will be provided with a copy of the charity's governing documents.
The Trustees are satisfied with the results for the year, the level of reserves and the ability of the charity to meet its liabilities when they fall due.
Objective and Activities
The charity provides free or subsidised houses to retired estate workers and those in need in the parish of Bottesford. At present, it houses fifty people.
The trustees see the continued provision of subsidised housing as its main achievement.
Trustees
Details of the Trustees can be found on the legal and administrative information page.
Public benefit
The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities.
Risk Management
The trustees continue to assess the major risks to which the charity is exposed and are satified that the systems are in place to mitigate exposure to these risks.
Financial review
The Trustees were satisfied with the activities during the year and the position at the year end. They are confident that the Charity can meet its liabilities whenever they fall due.
During the year the Charity had total incoming resouces of £185,994 (2024 : £180,305) and there was a net increase in funds of £37,321 (2024 : £47,088).
The total unrestricted funds at the end of the year amounted to £2,356,359 (2024 : £2,319,038).
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THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
ANNUAL REPORT (CONTINUED) YEAR ENDED 31 MARCH 2025
Reserves policy
It is the policy of the Charity to hold sufficient reserves to meet all the liabilities when they fall due.
Plans for the Future Years
The Trustees are commited to continuing to achieve the objectives of the charity.
THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
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ANNUAL REPORT - CONTINUED YEAR ENDED 31 MARCH 2025
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements 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 these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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● 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 keeping proper accounting records that 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 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the Trustees
….....................
Mark A Woods
11 December 2025
THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
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INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES YEAR ENDED 31 MARCH 2025
I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 March 2025 which are set out on pages 6 to 16.
Respective responsibilities of trustees and examiner
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act')
I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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2 the accounts do not accord with those records; or
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3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not considered as part of an independent examination.
I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Marcus W Dockerty, FCA FCCA
SOMERBYS LIMITED
Chartered Accountants 30 Nelson Street Leicester, LE1 7BA
11 December 2025
THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
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STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2025
| Notes Income from: Income from land and properties 2 Other income 2 Profit on sale of land Total income Expenditure on: Expenditure on properties 3 Legal fees for Development Projects Total resources expended Net movement in funds Fund balances at 1 April 2024 Fund balances at 31 March 2025 |
Unrestricted funds £ 185,116 878 - 185,994 148,673 - 148,673 37,321 2,319,038 2,356,359 |
Restricted funds £ - - - - - - - - - |
Total 2025 Total 2024 £ £ 185,116 179,935 878 370 - - 185,994 180,305 3,404,279 957,384 - 148,673 119,277 - 13,940 148,673 133,217 37,321 47,088 2,319,038 2,271,950 2,356,359 2,319,038 |
|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
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STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2025
Prior Year
| Notes Income from: Income from land and properties 2 Other income 2 Profit on sale of land Total income Expenditure on: Expenditure on properties 3 Legal fees for Development Projects Total resources expended Net movement in funds Fund balances at 1 April 2023 Fund balances at 31 March 2024 |
Unrestricted funds £ 179,935 370 - 180,305 119,277 13,940 133,217 47,088 2,271,950 2,319,038 |
Restricted funds £ - - - - - - - - - - |
Total 2024 £ 179,935 370 - 180,305 3,404,279 957,384 - 119,277 13,940 133,217 47,088 2,271,950 2,319,038 |
|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities
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THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
| BALANCE SHEET AS AT 31 MARCH 2025 Note Fixed Assets Land and Buildings 5 Current Assets Rents receivable 7 Cash at Bank 6 Current Liabilities Trade creditors 8 Loan 9 Net Assets Represented by: Revaluation Reserve 10 Unrestricted funds 11 |
2025 2025 £ £ 10,623,500 20,448 100,804 121,252 28,837 - 28,837 10,715,915 8,359,556 2,356,359 10,715,915 |
2024 2024 £ £ 10,623,500 19,603 54,206 73,809 18,715 - 18,715 10,678,594 8,359,556 2,319,038 10,678,594 |
|---|---|---|
The financial statements were approved by the Trustees and signed on their behalf by:
…..........................
Mark A Woods
11 December 2025
THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
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NOTES TO THE ACCOUNTS 31 MARCH 2025
1. Accounting policies
1.1 Information
The Earl of Rutland and Dr Flemings' Hospital Trust is a Charitable Incorporated Organisation. The offices are at Belvoir Castle, Belvoir, Grantham. NG32 IPE
Accounting convention
The financial statements have been prepared in accordance with the charity’s governing document, the ‘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 (FRS102)’ (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit as defined by FRS102.
The financial statements are prepared in sterling, which is the functional currency of the charity.
The principal accounting policies are set out below.
1.2 Charitable funds
The charity maintains the following funds:
Unrestricted funds – Unrestricted funds represent income, which is expendable at the discretion of trustees in the furtherance of the objects of the charity.
1.3 Incoming resources
All incoming 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.
During the period income represents:
Rental income and service charges and other income are recognised on a receivable basis.
1.4 Resources expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
All resources expended are accounted for on an accruals basis, and have been allocated to the heading that best describes the expenditure incurred.
The trust is unable to recover VAT and accordingly input VAT is written off with the appropriate expenditure.
1.5 Tangible assets
Tangible fixed assets are stated at valuation less accumulated depreciation and accumulated impairment losses.
Depreciation is recognised so as to write off the valuation of assets less their residual value over their useful lives on the following basis:
Land and buildings: No depreciation
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the income and expenditure account.
THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
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NOTES TO THE ACCOUNTS 31 MARCH 2025
1. Accounting policies (Continued)
1.6 Debtors and creditors receivable / payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
1.7 Going concern
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
1.8 Funds
All funds of the charity are unrestricted and may be applied by the Trustees as income or capital in financial statements.
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments and original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
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NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED - 31 MARCH 2025
2. Income
| Farm Residential Service Charge Sundry Wayleaves Other Income Sundry Income |
2025 2024 £ £ 29,730 29,765 80,279 80,335 74,107 68,186 559 1,217 441 432 185,116 179,935 878 370 |
|---|---|
THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
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NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED - 31 MARCH 2025
| 3. Expenditure Property Water rates Rent - The Old Shed Insurance License Health and safety Maintenance, repairs etc Light/heat Telephone Property contractors Administration Staff salaries and wages Management charges Professional fees Advertising Bank charges and interest Office costs and sundry Bad debts Charitable Expenditure Property Council tax Total Payments |
2025 2024 £ £ (524) 4,961 - 1,076 1,300 1,300 - 159 511 1,772 30,568 15,017 6,520 13,444 378 - 71,114 44,554 109,867 82,283 6,368 9,014 16,813 12,576 10,315 4,186 - - 37 504 500 2,362 - - 34,033 28,642 4,773 8,352 4,773 8,352 148,673 119,277 |
|---|---|
THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
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NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED - 31 MARCH 2025
4. Summary of receipts and payments
| Opening cash at bank Excess of non-capital receipts over payments for the year Net capital receipts/(payments) Movement in debtors Movement in creditors Movement in loan from Estate Closing cash at bank |
2025 2024 £ £ 54,206 52,053 37,321 61,028 - (13,940) (846) (6,826) 10,123 12,659 - (50,768) 100,804 £54,206 |
|---|---|
THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
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NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED - 31 MARCH 2025
5. Tangible fixed assets
| 5. Tangible fixed assets Value At 1 April 2024 Additions Valuations Disposals At 31 March 2025 Net book value At 31 March 2025 At 1 April 2024 |
Land and Buildings £ 10,623,500 - - - 10,623,500 10,623,500 10,623,500 |
|---|---|
Valuation
The freehold interest of the Earl of Rutland and properties owned by the Earl of Rutland and Dr Flemings' Hospital Trust portfolio were valued by Morgan Bilton Assocites Limited (Chartered Surveyors) as at 7 August 2023 at market value at a value of £10,623,500.
On an historical cost basis the land and buildings would be disclosed at a cost of £2,263,944 (2024 - £2,263,944)
| 6. Cash at bank and in hand Current account Property account SPIB account 7. Money owing to the Charity Mr B Ablewhite Mr J & Mrs D Plowright Miss A Reeve Mrs M Saggers Mrs S Clarke Mr Goodband Mr I & Mrs L Kinchin Mr P Johnson Mrs J Kay Terrace Hills Farm Less monies received in advance Interco ERDFHT to HF Accrued rental owing |
2025 2024 £ £ 23,764 10,872 76,017 40,139 1,023 3,195 100,804 £54,206 2025 2024 £ £ - 128 - 200 20 20 120 120 - 120 490 350 350 350 - 9 71 - 900 500 (1,207) (594) 2,100 1,391 17,604 17,009 20,448 19,603 |
|---|---|
THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
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NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED - 31 MARCH 2025
| 8 Money owing by the Charity Anglian Water DJ Chimney Sweep Service Edward Stirton Inter Company Belvoir Estate Inter Company Belvoir Hill Farm Jean Gardener JMAW Limited JNP Electrical KBR Gas Services Limited Kesteven Decorating Michael Palmer-Pritchett MKM BS (Grantham) Ltd Neil Meadows Nicholas Turner Peter Cox Limited Scottish Power STWA The Flag Consultancy Limited Tracy Childs Yesss Electrical Purchase on account Tenancy deposits Bonds and deposits Deferred income 9 Loan Loan from Estate 10. Revalaution Reserve Balance brought forward Increase in revaluation in the year Balance carried forward |
2025 2024 £ £ 131 - 45 - 340 - 34 - 547 - - 545 - 234 - 2,357 78 2,630 9,072 - 747 215 6,604 - 669 - 303 - - 3,169 203 - 3,718 2,903 - 708 - 30 650 4 (2,219) (1,555) 2,250 2,250 1,500 1,590 4,165 3,635 28,837 18,715 - - 2025 £ 8,359,556 - 8,359,556 |
|---|---|
THE EARL OF RUTLAND AND DR FLEMINGS' HOSPITAL TRUST
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NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED - 31 MARCH 2025
11. Unrestricted funds
2025
| Unrestricted funds 2024 Unrestricted funds |
Balance 01 April 2024 £ 2,319,038 2,319,038 Balance 01 April 2023 £ 2,271,950 2,271,950 |
Incoming Resources £ 185,994 185,994 Incoming Resources £ 180,305 180,305 |
Resources Expended £ (148,673) (148,673) Resources Expended £ (133,217) (133,217) |
Balance 31 March 2025 £ 2,356,359 2,356,359 Balance 31 March 2024 £ 2,319,038 2,319,038 |
|---|---|---|---|---|
12. Trustees
No remuneration was paid to Trustees during the year.