Registered Charity No. 1168625
St Lawrence's Hospital CIO
## Unaudited financial statements
For the year ended 31 December 2022
St Lawrence's Hospital CIO
## CIO information For the year ended 31 December 2022
|Charity name:|St Lawrence's Hospital CIO|
|---|---|
|Registered charity number:|1168625|
|Principal office:|Bathurst Estate Office|
||Cirencester Park|
||Cirencester|
||Gloucestershire|
||GL7 2BU|
|Trustees:|The Earl Bathurst - Master|
||Edward Allsop - Master's Nominee from 23/09/2022|
||Paul Babbage|
||Shawn Gibbings - Master's Nominee (deceased 23/08/2022)|
||Andrew Lichnowski|
||Sandra Price|
|Clerk:|Jane Winstanley|
|Bankers:|Lloyds Bank plc|
||14 Castle Street|
||Cirencester|
||Gloucestershire|
||GL7 1QJ|
||CCLA|
||85 Queen Victoria Street|
||London|
||EC4V 4ET|
|Independent examiner:|Cara Turtington FCA DChA|
||Saffery LLP|
||71 Queen Victoria Street|
||London|
||EC4V 4BE|
St Lawrence's Hospital CIO
## Contents
For the year ended 31 December 2022
||Page|
|---|---|
|Trustees' report|1|
|Statement of trustees' responsibilities|4|
|Independent examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the financial statements|8|
St Lawrence's Hospital CIO
Trustees' report For the year ended 31 December 2022
The Trustees present their report and accounts for the year ended 31 December 2022. These have been prepared on a going concern basis in accordance with the accounting policies set out in note 1 to the accounts. In preparing these accounts the Trustees have complied with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland, (FRS 102) and the Statement of Recommended Practice for Charities (FRS 102).
St Lawrence’s Hospital CIO was registered on 5 August 2016 with the Charity Commission and is governed by its constitution of that date. The CIO remained dormant until 11 June 2019 when it received the net assets and undertakings of St Lawrence's Hospital, an existing unincorporated trust with the same charitable objectives as St Lawrence's Hospital CIO.
## Objectives and activities
The original charity was founded by Edith, Lady of Wiggold in or about the year 1235 for the provision and maintenance of almshouses for the benefit of poor persons of good character. Currently 23 units of almshouse accommodation are provided for occupancy.
All units are maintained to a high standard by the CIO, under the guidance of the Trustees, by receipt of maintenance contributions from the CIO's beneficiaries. A clerk is employed who is responsible for the day-today management of repairs and the seeking out of new beneficiaries when a property becomes available for occupancy.
Expenditure on the upkeep of these properties in the year amounted to £216 662 (2021: 265,240).
The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the Charity Commission's guidance on public benefit, 'Charities and Public Benefit'.
## Achievements and performance
The CIO provides housing for people who are not in a position to afford the weekly maintenance contributions and who need state benefit and are of limited means. The aligns with the constitution of the CIO.
During the year the CIO progressed with its planned refurbishment programme, albeit at a slightly slower pace due to the pandemic.
## Financial review
Income from licenses amounted to £139,121 (2021: £133,885) net of losses from voids.
For the year ended 31 December 2022, the net expenditure amounted to £165,443 (2021: net income £21,335).
Page 1
St Lawrence's Hospital CIO
Trustees' report (continued) For the year ended 31 December 2022
The trustees always try to set a balanced budget, spreading the cost of major refurbishments. However, over the past few years this has not been possible and the accounts show high levels of expenditure on the properties.
The majority of the refurbishment work has now been completed, with three properties left to carry out work on.
Extra insulation has also been a major feature of these refurbishments, to reduce fuel costs for beneficiaries and reduce greenhouse gas emissions. The refurbishment work has also provided the opportunity to correct defects, improving layouts in some instances. New kitchens and bathrooms have been installed, and wherever possible, ground floor toilets have been added. All works have been undertaken with the needs and safety of older residents in mind e.g. the removal of trip hazards such as hearths and the installation of low level entry showers large enough for seating if required.
At the year end, the CIO held total reserves of £1,958,395 (2021: £2,123,838), of which £572,152 (2021: £591,242) were not designated for a particular purpose.
The CIO retains sufficient reserves to ensure that unforeseen major emergency repairs may be funded. Because many of its properties are listed buildings, maintenance costs can be high, and it is necessary that high reserves are kept for this purpose and to effect improvements where possible and for acquisition of additional property. The Trustees have fully considered the condition of the properties and believe that the level of reserves is appropriate.
The CIO invests its reserves in the Charities Official Investment Fund (COIF). It constantly seeks the best possible returns for its investments, which are kept under regular review with our account manager who visits us each year, in September. However, these are held for the long term and the Trustees have no plans to liquidate the investments.
## Structure, governance and management
St Lawrences' Hospital CIO is a charitable incorporated organiation, governed by its constitution dated 16 August 2016.
The CIO's affairs were looked after by six trustees (including the Master) noted overleaf. The Master can nominate one other trustee.
The Trustees are responsible for the management of the 23 properties owned by the CIO. The CIO employs a part-time clerk, and its records and accounts are handled by the Bathurst Estate Office under the Earl Bathurst Estate Settlement (EBES). All decisions regarding the employment and remuneration of the Clerk are made by the Trustees as a body.
Page 2
St Lawrence's Hospital CIO
Trustees' report (continued) For the year ended 31 December 2022
## Reference and administrative details
The Charity Commission registration number and principal office are given on the information page at the beginning of these financial statements.
The following trustees served during the year:
The Earl Bathurst Master Edward Allsop Master's Nominee from 24/09/2022 Paul Babbage Shawn Gibbings Master's Nominee (deceased 23/08/2022) Andrew Lichnowski Sandra Price
## Maintenance contributions policy
Maintenance contributions payable by the CIO's beneficiaries are assessed annually and revised contributions are implemented on the 1st of January each year. Those beneficiaries who are unable to afford the full contribution may claim Housing Benefit from Cotswold District Council. All the CIO's current beneficiaries are eligible for some form of benefit.
## Maintenance and repairs policy
The CIO has an ongoing programme of cyclical maintenance for painting, improvement and associated repairs which take account of the fact that many of its properties are listed buildings and all are in a conservation area. The CIO also undertakes adaptations and such improvements as are needed (eg the installation of level access showers).
Responsive repairs are dealt with on a priority basis, with emergencies being attended to within 24 hours, urgent repairs within 7 days, less urgent repairs within one month, and other work carried out as part of cyclical maintenance.
## Risk management
The Trustees have considered the risks facing the CIO and believe that the ongoing protection of the CIO's property is the major risk they face. The CIO's properties are insured against the cost of reinstatement, and the reinstatement values of its properties are regularly reviewed, particularly as many are listed buildings, and all are in a conservation area. The CIO also has fire insurance, and its trustees are insured through the specialist almshouse insurance policy. Employer's Liability Insurance is also taken out as required by legislation.
On behalf of the Trustees
……………………………….
The Earl Bathurst, Master
………………………………. Andrew Lichnowski, Trustee
Date: …………………….. Bathurst Estate Office Cirencester Park Cirencester, Gloucestershire GL7 2BU
Page 3
St Lawrence's Hospital CIO
Statement of trustees' responsibilities For the year ended 31 December 2022
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).
Charity law, in England and 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 CIO and of its incoming resources and application of resources of the Charity for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles within the Charities SORP (FRS 102);
- make judgments and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the CIO will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the CIO 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 for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the Trustees
………………………………. ………………………………. The Earl Bathurst, Master Andrew Lichnowski, Trustee
Date: ……………………..
Page 4
St Lawrence's Hospital CIO
Independent examiner's report to the trustees of St Lawrence's Hospital CIO For the year ended 31 December 2022
I report to the trustees on my examination of the accounts of the St Lawrence's Hospital CIO (the charity) for the year ended 31 December 2022.
## Respective responsibilities of trustees and examiner
As the trustees of the charity 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 2011 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.
## Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## Independent examiner's statements
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:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- 2 the accounts do not accord with those records; or
- 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 a matter considered as part of an independent examination.
I have no concerns and have come across no other 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.
………………………………… Cara Turtington FCA DChA Saffery LLP, Chartered Accountants 71 Queen Victoria Street, London, EC4V 4BE
Date:……………………….
Page 5
St Lawrence's Hospital CIO
Statement of financial activities For the year ended 31 December 2022
|Note
Income from:
Charitable activities
2
Investments
5
Total income
Expenditure on:
Charitable activities:
Maintenance and running of
almshouses
6
Total expenditure
Net gains / (losses) on investments
8
Net gains / (losses) on investment
properties
8
Net income / (expenditure)
Transfers between funds
11
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
11|Unrestricted
funds
2022
£
139,121
27,797
166,919
216,662
216,662
(109,914)
-
(159,658)
-
(159,658)
2,070,414
1,910,756|Restricted
funds
2022
£
-
-
-
-
-
(5,785)
-
(5,785)
-
(5,785)
53,424
47,639|Total
funds
2022
£
139,121
27,797
166,919
216,662
216,662
(115,699)
-
(165,443)
-
(165,443)
2,123,838
1,958,395|Total
funds
2021
£
133,885
27,284|
|---|---|---|---|---|
|||||161,169|
|||||265,240|
|||||265,240|
|||||125,406
-|
|||||21,335
-|
|||||21,335
2,102,503|
|||||2,123,838|
The results for the year derive from continuing activities and there are no gains or losses other than those shown above.
The notes on pages 8 to 17 form part of these financial statements.
Page 6
St Lawrence's Hospital CIO
## Balance sheet As at 31 December 2022
|Note
£
£
Fixed assets
Tangible assets
7
973,457
Investments
8
952,792
1,926,248
Current assets
Debtors
9
2,815
Cash and bank at hand
42,317
45,132
Creditors: amounts falling due within one year 10
(12,986)
Net current assets
32,146
Total net assets
1,958,394
Funds:
Restricted funds
11
Restricted funds
30,452
Revaluation reserves
17,187
47,639
Unrestricted funds
11
Designated funds
983,657
Revaluation reserves
354,947
Unrestricted funds
572,152
1,910,756
1,958,395
2022|£
£
1,004,111
1,068,491
2,072,602
2,434
58,493
60,927
(9,691)
51,236
2,123,838
30,452
22,972
53,424
1,014,311
464,861
591,242
2,070,414
2,123,838
2021|£
£
1,004,111
1,068,491
2,072,602
2,434
58,493
60,927
(9,691)
51,236
2,123,838
30,452
22,972
53,424
1,014,311
464,861
591,242
2,070,414
2,123,838
2021|
|---|---|---|
|||2,072,602
51,236|
|||2,123,838|
|||53,424
2,070,414|
|||2,123,838|
The notes on pages 8 to 17 form part of these financial statements.
Approved by the Trustees for issue on ……………………
………………………………. ………………………………. The Earl Bathurst, Master Andrew Lichnowski, Trustee
Page 7
St Lawrence's Hospital CIO
Notes to the financial statements For the year ended 31 December 2022
## 1. Principal accounting policies
## Basis of preparation
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain investments (detailed below).
The financial statements have been prepared in accordance with the accounting policies set out below, the Charities Act 2011 and 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). Exemptions available for smaller charities have been taken where appropriate.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The CIO constitutes a public benefit entity as defined by FRS102.
## Going concern
The Trustees have assessed whether there are any significant doubts about the CIO's ability to continue as a going concern and have not identified any material uncertainties. A deficit budget has been prepared for 2024 as the CIO takes the opportunity to carry an increased level of maintenance work, however, this is been monitored on an ongoing basis and the Trustees are satisfied with the current reserves level.
The accounts have therefore been prepared on a going concern basis.
## Income
Income from charitable activities represents maintenance contributions receivable from beneficiaries in respect of non-investment property for the furtherance of charitable purposes.
Investment income represents dividends and interest receivable.
All income is reported gross and recognised only when the CIO has entitlement to the income, receipt is probable, and the income can be measured reliably.
Page 8
St Lawrence's Hospital CIO
Notes to the financial statements (continued) For the year ended 31 December 2022
## 1. Principal accounting policies (continued)
## Expenditure
Expenditure is accounted for on the accruals basis. Liabilities are recognised in the accounting period to which they relate.
Governance costs comprise all costs involving the public accountability of the CIO and its compliance with regulation and good practice. Expenditure on governance is detailed in the notes to these accounts.
## Fixed assets and depreciation
Expenditure on fixed assets is recognised at cost and subsequently depreciated. Depreciation on housing properties is charged so as to write down the cost on a straight line basis over their estimated economic lives at the following annual rates:
Housing properties 100 years (prior to 1 January 2012) Improvement works 20 years
## Investments
Listed investments are stated at market value at the balance sheet date. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Gains / (losses) on investments' in the statement of financial activities.
Freehold land is held at fair value and is subject to review every five years.
## Debtors
Debtors include maintenance contributions and dividends owing to the CIO, as well as amounts the CIO has paid in advance for goods or services. Debtors are measured at their recoverable amounts.
Page 9
St Lawrence's Hospital CIO Notes to the financial statements (continued) For the year ended 31 December 2022
## 1. Principal accounting policies (continued)
## Creditors
Creditors include amounts owed by the CIO to suppliers and are measured at the amount the CIO anticipates it will pay to settle the debt.
## Fund accounting policy
Unrestricted income funds are general funds that are available for use at the Trustees' discretion in furtherance of the objectives of the CIO.
Designated funds are unrestricted funds which have been held for a specific purpose, as agreed by the Trustees.
Restricted funds are those where the donors have placed stipulations on how the money can be applied.
## Taxation
The CIO is not subject to income tax on its surplus, as it is applied for wholly charitable purposes. The CIO is not registered for value added tax purposes.
|2.
Income and expenditure from lettings
Income from licenses:
Weekly maintenance contributions
Less:losses from voids
Total lettings income|2022
£
162,913
(23,792)
139,121|2021
£
152,728
(18,842)|
|---|---|---|
|||133,885|
There are 23 units of almshouse accommodation let at fair rent set by the Valuation Office Agency (2021: 23 units) comprising general needs housing. The average licence income per unit is £6,210 (2021: £5,827).
## 3. Trustees' remuneration and benefits
None of the Trustees have been paid any remuneration by the CIO. In addition, no Trustee was employed by the CIO in the year, and as such, none received any benefit from employment with the CIO or a related entity.
Page 10
St Lawrence's Hospital CIO
## Notes to the financial statements (continued) For the year ended 31 December 2022
|4.
Employees
Staff
Clerk (part-time)
Researcher (part-time)
Staff costs for the above
Wages and salaries
Social security costs|2022
No.
1
1
2
£
15,596
-
15,596|2021
No.
1
1|
|---|---|---|
|||2|
|||£
12,220
-|
|||12,220|
|5.
6.|Investment income
2022
2021
£
£
Income receivable from investments
26,185
25,946
Income receivable from bank short-term deposits
278
4
Rental income
1,334
1,334
27,797
27,284
Expenditure
2022
2021
£
£
Direct costs of housing maintenance and management
Insurance
3,854
3,532
Routine and quinquennial maintenance
127,206
185,859
Other direct costs
4,329
4,247
Donations to organisations
-
-
Support costs
Staff costs
15,596
12,220
Legal costs
2,072
-
Depreciation
45,174
44,472
Other overhead expenses
12,791
10,710
Governance costs (see below)
5,640
4,200
216,662
265,240
Governance costs
Independent examiners' remuneration in respect of:
Independent examination
2,820
2,100
Preparation of accounts
2,820
2,100
5,640
4,200
No employees received emoluments of more than £60,000 (2021: no employees received emoluments
over £60,000). The Clerk is considered to be key management personnel for the purposes of FRS 102.|Investment income
2022
2021
£
£
Income receivable from investments
26,185
25,946
Income receivable from bank short-term deposits
278
4
Rental income
1,334
1,334
27,797
27,284
Expenditure
2022
2021
£
£
Direct costs of housing maintenance and management
Insurance
3,854
3,532
Routine and quinquennial maintenance
127,206
185,859
Other direct costs
4,329
4,247
Donations to organisations
-
-
Support costs
Staff costs
15,596
12,220
Legal costs
2,072
-
Depreciation
45,174
44,472
Other overhead expenses
12,791
10,710
Governance costs (see below)
5,640
4,200
216,662
265,240
Governance costs
Independent examiners' remuneration in respect of:
Independent examination
2,820
2,100
Preparation of accounts
2,820
2,100
5,640
4,200
No employees received emoluments of more than £60,000 (2021: no employees received emoluments
over £60,000). The Clerk is considered to be key management personnel for the purposes of FRS 102.|
|---|---|---|
|||27,284|
|||2021
£
3,532
185,859
4,247
-
12,220
-
44,472
10,710
4,200|
|||265,240|
|||2,100
2,100|
|||4,200|
Page 11
St Lawrence's Hospital CIO
Notes to the financial statements (continued) For the year ended 31 December 2022
## 7. Housing properties
|Housing properties|||
|---|---|---|
|Cost
At 1 January 2022
Additions and improvements
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the year
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021|£
1,439,177
14,520
435,066
45,174|£
1,453,697
(480,240)|
|||973,457|
|||1,004,111|
Additions of £14,520 (2021: nil) represent expenditure on capital works. A further £127,206 (2021: £185,859) has been spent on routine and cyclical maintenance and repairs to housing property which has been charged to the statement of financial activities.
The CIO owns 23 units of almshouses. Homes England holds a charge over 11 of the units which will expire after 2042.
Page 12
St Lawrence's Hospital CIO
## Notes to the financial statements (continued) For the year ended 31 December 2022
|8.|Investments|2022||2021|
|---|---|---|---|---|
|||£||£|
||Total fixed asset investments comprise:||||
||Listed investments|879,292||994,991|
||Freehold land|73,500||73,500|
|||952,792||1,068,491|
||Listed on a recognised investment exchange in the UK|2022||2021|
|||£||£|
||Market value at 1 January 2022|994,991||921,585|
||Additions|-||-|
||Disposals at proceeds|-||(52,000)|
||Unrealised gain/(loss) on investments|(115,699)||123,610|
||Realised gain on disposal of investments|-||1,796|
||Market value at 31 December 2022|879,292||994,991|
||Costs of investments at the balance sheet date|570,458||570,458|
||All of the listed investments are held in the COIF Charities Investment Fund.||||
||Freehold land|2022||2021|
|||£|£||
||Market value at 1 January 2022|73,500||73,500|
||Revaluation in the year|-||-|
||Fair value at 31 December 2022|73,500||73,500|
||Historical cost|10,200||10,200|
||The valuation of the 17 acres of tenanted agricultural freehold land was carried out on 1 May 2019 by||||
||The Bathurst Estate Office.||||
|9.|Debtors|2022||2021|
|||£||£|
||Weekly maintenance contributions|2,432||2,101|
||Other debtors|383||333|
|||2,815||2,434|
Page 13
St Lawrence's Hospital CIO
Notes to the financial statements (continued) For the year ended 31 December 2022
## 10.Creditors: amounts falling due within one year
||||
|---|---|---|
|Creditors: amounts falling due within one year
Maintenance contributions received in advance
Trade creditors
Other creditors|2022
£
1,400
6,175
5,411
12,986|2021
£
781
4,564
4,346|
|||9,691|
## 11.Summary of fund movements
|Summary of fund movements|||||
|---|---|---|---|---|
|Current year
Restricted funds
Major repairs fund
Major repairs revaluation
Unrestricted funds
Tangible fixed asset reserve fund
Investment property reserve fund
Property revaluation reserve
Investment revaluation fund
Unrestricted income funds|At 1
January
2022
£
30,452
22,972
1,004,111
10,200
63,300
401,561
591,242
2,123,838|Income
£
-
-
-
-
-
-
166,919
166,919|Gains and
losses on
investments
Expenditure and transfers
£
£
-
-
-
(5,785)
(45,174)
14,520
-
-
-
-
-
(109,914)
(171,488)
(14,520)
(216,663)
(115,699)|At 31
December
2022
£
30,452
17,187
973,457
10,200
63,300
291,647
572,152|
|||||1,958,395|
## Major repairs fund
The constitution of the CIO stipulates a major repairs fund should be held. The Trustees consider it appropriate to maintain this at no less than 5% of the investment value and transfers will be made to the fund in line with that.
Where major repair work is carried out and this work is capitalised then the restriction has been fulfilled and a subsequent transfer will be made out of the restricted fund.
## Tangible fixed asset and Investment property reserve funds
The fixed asset reserve fund comprises the net book value of the fixed assets and the cost of the investment property. These reserves has been set apart to clarify that, despite being unrestricted, the funds are not immediately accessible.
## Property and investment revaluation funds
The investment and property revaluation funds comprise unrealised gains on investments held within the unrestricted funds.
Page 14
St Lawrence's Hospital CIO
Notes to the financial statements (continued) For the year ended 31 December 2022
## 11. Summary of fund movements (continued)
|11. Summary of fund movements (continued)|||||
|---|---|---|---|---|
|Comparative year
At 1
January
2021
£
Restricted funds
Major repairs fund
86,331
Major repairs revaluation
26,316
Unrestricted funds
Fixed asset reserve fund
1,048,583
Investment property reserve fund
10,200
Property revaluation reserve
63,300
Investment revaluation fund
291,945
Unrestricted income funds
575,828
2,102,503
12. Analysis of net assets between funds
Restricted
Current year
funds
2022
£
Fixed assets
-
Investments
47,639
Current assets
-
Creditors: amounts falling due
within one year
-
47,639|Income
£
-
-
-
-
-
161,169|Expenditure
£
(134,162)
-
(44,472)
-
-
-
(86,606)|Gains and
losses on
investments
and transfers
£
78,283
(3,344)
-
-
-
109,616
(59,149)|At 31
December
2021
£
30,452
22,972
1,004,111
10,200
63,300
401,561
591,242|
||161,169|(265,240)|125,406|2,123,838|
||Designated
funds
2022
£
973,457
365,147
-
-|Unrestricted
funds
2022
£
-
540,006
45,132
(12,986)|Total
funds
2022
£
973,457
952,792
45,132
(12,986)|Total
funds
2021
£
1,004,111
1,068,491
60,927
(9,691)|
||1,338,604|572,152|1,958,395|2,123,838|
Page 15
St Lawrence's Hospital CIO
Notes to the financial statements (continued) For the year ended 31 December 2022
## 12. Analysis of net assets between funds (continued)
|Comparative year
Fixed assets
Investments
Current assets
Creditors: amounts falling due
within one year|Restricted
funds
2021
£
-
53,424
-
-
53,424|Designated
funds
2021
£
1,004,111
475,061
-
-|Unrestricted
funds
2021
£
-
540,006
60,927
(9,691)|Total
funds
2021
£
1,004,111
1,068,491
60,927
(9,691)|
|---|---|---|---|---|
|||1,479,172|591,242|2,123,838|
## 13. Related party transactions
Cirencester Park Farms Limited is a limited company owned by the Earl Bathurst Estate Settlement 1963 and a tenant of the CIO on normal commercial terms. The Master of the CIO is a director of the company and a beneficiary of the settlement.
Rental income from the company during the year in respect of the land detailed in note 5 to these accounts was £1,334 (2021: £1,334). At the year-end there was a balance of due from Cirencester Park Farms Limited of £667 (2021: £1334).
Page 16
St Lawrence's Hospital CIO
Notes to the financial statements (continued) For the year ended 31 December 2022
## 14. Comparative Statement of Financial Activities
|Income from:
Charitable activities
Investments
Total income
Expenditure on:
Charitable activities:
Total expenditure
Net income / (expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Maintenance and running of almshouses
Net gains / (losses) on investments|Unrestricted
funds
2021
£
133,885
27,284|Restricted
funds
2021
£
-
-|Total
funds
2021
£
133,885
27,284|
|---|---|---|---|
||161,169|-|161,169|
||131,078|134,162|265,240|
||131,078|134,162|265,240|
||111,210|14,196|125,406|
||141,301
(60,743)
80,558
1,989,856|(119,966)
60,743
(59,223)
112,647|21,335
-
21,335
2,102,503|
|||||
||2,070,414|53,424|2,123,838|
Page 17