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2023-03-31-accounts

ST JOHN’S WINCHESTER

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2023

Charity no 1174290 Registered Company no 10903970

ST JOHN’S WINCHESTER

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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CONTENTS PAGE
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CONTENTS PAGE
TRUSTEES’ ANNUAL REPORT 1 - 14
REPORT OF THE INDEPENDENT AUDITOR 15-17
STATEMENT OF FINANCIAL ACTIVITIES 18
BALANCE SHEET 19
CASH FLOW STATEMENT 20
NOTES TO THE FINANCIAL STATEMENTS 21-31

ST JOHN’S WINCHESTER THE TRUSTEES’ ANNUAL REPORT 2022/2023 INCORPORATING A STRATEGIC REPORT

1. Reference and Administration Details of the Charity, its Trustees and Advisors

The Charity is registered with the Charity Commission under Charity registration number 1174290 and is a company limited by guarantee (with registered company number 10903970) incorporated on 8 August 2017. In this report, the Charity or the Company means St John’s Winchester. St John’s Winchester is the sole corporate trustee of St John’s Winchester Charity, a linked charity which still holds the beneficial ownership of the Charity’s permanent endowment.

The Charity’s activities are governed by a scheme of the Charity Commissioners dated 14[th] April 1991, as amended, and by articles of association adopted on 8 August 2017. The Charity’s registered office and principal place of business are located at:-

32 St John’s South High Street The Broadway Winchester SO23 9LN

The Board of Directors/Trustees comprises persons who are Appointed Directors (co-opted by the Board or members) and Nominated Directors who are appointed respectively by Winchester City Council and by The Bishop of Winchester. The Directors and Trustees of the Charity who have served during the financial year and up to the date of this report (including those who have retired during the year) are listed below:

Mr R Bright - Chair Mrs L Bonnin Mr R Brand Mr R Corden Mr C Day Mr P Gubb (retired 19 September 2023) Ms K Learney Mr B Moore (resigned 24 May 2022) Ms E McNicholas Mrs S Simmons Mr M Suffield Mr M Willey There are currently 11 trustees.

To better manage the affairs of the Charity, the Trustees operate the following four committees whose Chairs report regularly to the main meetings of the Trust Board which in turn take place approximately every quarter:

AUDIT, RISK AND FINANCE

Mr C Day (Chair) Mr R Bright Mr P Gubb

CARE PROVISION

R Bright (Acting Chair) Mr R Brand Mrs E McNicholas Mr M Suffield

ST JOHN’S WINCHESTER

THE TRUSTEES’ ANNUAL REPORT 2022/2023 INCORPORATING A STRATEGIC REPORT

STAFF AND GOVERNANCE

Mr R Corden (Chair) Mr R Bright Mr C Day

PROPERTY MANAGEMENT AND DEVELOPMENT

Mr P Gubb (Chair) Mrs L Bonnin Mr R Bright Mr M Willey

The senior executive officers of the Charity are as follows:

Chief Executive: Mr C Cook Director of Community Services: Mrs S Weekes Finance Director: Mrs E Redmond Investment Property Manager: Mrs S Duxbury Facilities Manager: Mr A Ross

The Chief Executive Officer of the Charity leads the day-to-day management of the Charity reporting to the Chair and Board of Trustees who are responsible for the overall strategic direction of the Charity and ensuring that the Executive implements the agreed strategy and that the Charity’s operations are conducted in the most effective way complying with all laws and regulations in a manner consistent with best practice.

The Charity’s main advisors are as follows: -

Bankers: National Westminster Bank plc 105 High Street, Winchester, SO23 9AW Auditors: CLA Evelyn Partners Limited 4[th] Floor Cumberland House 15-17 Cumberland Place Southampton, SO15 2BG Solicitors: Stone King Blake Morgan Upper Borough Court New Kings Court Upper Borough Walls Chandlers Ford Bath Eastleigh BA1 1RG SO53 3LG Property Advisors: Carter Jonas 9a Jewry Street Winchester SO23 8RZ

ST JOHN’S WINCHESTER THE TRUSTEES’ ANNUAL REPORT 2022/2023 INCORPORATING A STRATEGIC REPORT

2. Structure, Governance and Management

The Charity is a company limited by guarantee which from a charity law perspective is governed by a Charitable Scheme approved and established by the Charity Commission in 1991 and subsequently amended. The articles of association of the Charity reflect the Scheme.

The Charity’s strategy is determined by the Board of Trustees which meets quarterly. There are four sub-committees of trustees: Audit, Risk and Finance, Care Provision, Staff and Governance, and Property Management and Development. The Trustees of the Charity receive regular reports at these committee meetings from senior executive officers and from the CQC registered manager responsible for the Almshouses, the Dementia Service and from the Service Managers of the Charity’s Hand in Hand and Homeshare services.

The Trustees

The process for appointment of new Trustees is dependent upon whether it is for a Nominated or an Appointed Trustee. One Trustee is currently nominated by Winchester City Council, one by the Bishop of Winchester, and the balance are co-opted by resolution of the Trustees. It is the practice of Winchester City Council to determine at its own cabinet meetings whom to nominate as its Nominated Trustee, and that this person should normally be a serving City Councillor (but not in all cases). It is the Bishop of Winchester’s practice to consult the Charity when exercising his power of nomination of one Trustee.

During the year Bruce Moore resigned from the main board so he could take up a post as chair of the Charity’s wholly owned subsidiary, St John’s Community Housing Ltd, this entity is now dormant.

The Charity has adopted the Charities Governance Code for larger charities and during the current financial year will conduct an assessment of its compliance with the Code and in particular with the Code’s requirements pertaining to Equality, Diversity and Inclusion.

The trustees consider that the current Board continues to reflect an appropriate skills mix including, a Chair who was the former Chief Executive of the Crown Estates, a retired head of planning and property investor, a retired property fund manager and investor, a regional Director for the Royal College of Nursing, a former Finance Director of a national publicly funded organisation, the Head of Land Development at a major regional housing association , the former CEO of a Hospital Trust, and a successful entrepreneur involved in social care and housing.

Newly appointed Trustees receive a detailed induction pack, visit the almshouses and key portfolio properties and meet personnel running our key services. Comprehensive reporting occurs on a quarterly basis, with the Trustees being provided with quarterly management accounts, a quarterly CEO report and data supporting Key Performance Indicators. Trustees of the Charity are invited to training programmes arranged by The Almshouse Association and receive safeguarding, GDPR, Equality and Diversity and other training from a reputable outside provider.

Operational decisions e.g., the day-to-day management of the Charity’s core services, the hiring of new staff, the management of the Charity’s property portfolio are delegated to the Senior Management of the Charity, although the Chief Executive will often draw upon the individual expertise and experience of the Chair and other Trustees in support of key operational decisions. Major investments would be determined by the Trustee Board, following advice and recommendations from Senior Management and external advisors. It is the role of the Trustee Board to scrutinise management actions and determine the strategic direction of the Charity.

ST JOHN’S WINCHESTER

THE TRUSTEES’ ANNUAL REPORT 2022/2023 INCORPORATING A STRATEGIC REPORT

Key Members of the Management Team

These comprise of the Chief Executive, Director of Community Services, Finance Director, Facilities Manager and Investment Property Manager. These managers are responsible for managing their respective teams.

The remuneration of the senior management team is reviewed and benchmarked periodically, by the Staff and Governance Committee. Remuneration is benchmarked against equivalent positions in the charitable and not-for-profit sectors. The members of the senior management team are not directors of the Charity, but the Chief Executive is the Company Secretary of St John’s Winchester.

Residents

Our Residents’ Forum meets quarterly to provide St John’s almshouse residents with the opportunity to express their views and concerns of both a day-to-day nature and more broadly. The Forum is chaired by a resident, chosen by the Forum. It also provides Senior Management with the opportunity to consult with residents on major initiatives. Usually, the meeting will be attended by at least one trustee. A full residents’ meeting also takes place twice in each calendar year.

3. Objectives, Public Benefit, Strategy and Fundraising

Objectives

Our objectives are to house older people in Winchester of limited means and enable them to live well and independently for as long as possible, and to provide services in the wider community to help older people live well and independently in their own homes for as long as possible.

In October 2022 the Charity launched two new services. The first being a Dementia Support Service with the aim of supporting those living with dementia and their families to live as well as possible with dementia. The second being a Homeshare service matching an older (householder) and younger (sharer) who share a home with the sharer paying no rent but providing up to 10 volunteer hours per week to support the welfare of the householder.

Public Benefit

The almshouses and community services, benefit from significant subsidies which result in a very high standard of care and support. The numbers of residents benefitting from our almshouses vary from year to year but currently there are 81 flats, soon to be 106, which can accommodate 1 or 2 residents within the almshouses. Our St Johns Hand in Hand Scheme has received over 453 referrals to date, and we have introduced a self- referral process (in additional to referrals from GPs and Social Services) to increase accessibility to the service.

The aims and objectives of the Charity for the public benefit, as defined by the Charities Act 2011, are pursued. The guidance published by the Charity Commission in respect of the subject of public benefit has been followed. This annual report provides information as to the ways in which public benefit is achieved.

Strategy and future strategic plan

A strategic review was completed in December 2021 with a revised 5 -year plan for St John’s called ‘Building on a Strong Foundation’ being put in place, this was reviewed in November 2022. The Charity’s core goals remain the same:

ST JOHN’S WINCHESTER THE TRUSTEES’ ANNUAL REPORT 2022/2023 INCORPORATING A STRATEGIC REPORT

During the year the Charity has launched 2 new services (see below achievement and performances for more detail):

-Homeshare

These services are part of meeting the goals above. Going forward it is planned that these services will expand into other geographical areas and expand the support they provide.

It is also expected that the Charity’s Colebrook site in the centre of Winchester (15 new state ofthe-art almshouses) will complete, and plans will be finalised for the conversion of Moorside Nursing Home (closed 2021) into 18 further units.

St John’s Community Housing

At the beginning of the financial year the Charity decided that, subject to becoming registered as a provider of social housing, future development of new almshouses and potentially other accommodation would be carried out through a new wholly-owned subsidiary (incorporated in the previous financial year). This is St John’s Community Housing (SJCH), which is also a registered charity. It was thought that SJCH would bring benefits to the St John’s Group which would include:

In mid-September 2021, St John’s Community Housing submitted a Preliminary Application to the Regulator for Social Housing. In January 2021 our Preliminary Application was approved, and a final application was made in the autumn of 2022.

However, as the application process progressed it became clear that the framework and structure of a registered provider within the St John’s group of companies was not appropriate for the purpose and/or aims and objectives of both SJCH and SJW. After careful consideration, it was decided that SJCH would withdraw from the Final Application process. The subsidiary has remained dormant throughout the year.

Fundraising for Service Expansion

The Charity receives income from various sources principally: commercial rental income, weekly maintenance charges, and care fees.

During the year the Charity adopted a fundraising strategy, and after the year- end the appointment of a Head of Fundraising was made. The charity’s fundraising strategy is now being implemented and there have already been some positive results in obtaining funds from grant- making bodies, donations and corporate sponsorships. It is expected that these income sources will increase going forward.

ST JOHN’S WINCHESTER THE TRUSTEES’ ANNUAL REPORT 2022/2023 INCORPORATING A STRATEGIC REPORT

The Charity's fundraising activities are administered by employees of the Charity, no third party is currently acting on the Charity’s behalf. No complaints were received in the period regarding any fundraising activities. Any fundraising activities are kept under review by the Charity's management to ensure that vulnerable people are not unduly pressured, or activities are unreasonably persistent.

4. Achievements and Performance

The Charity’s overall short-term objective during the year under review remained the provision of housing, accommodation, care and support for older people in Winchester of the highest possible standard, and supporting those in our community to live well with dementia.

Almshouses

To support our almshouse residents, we employ a welfare team who provide a mix of registered care and welfare support 24 hours a day for 365 days a year which means our community members feel well supported, safe and secure. Our aim is to keep people living independently and well for as long as possible. In addition to welfare support we employ a therapist, who provides therapeutic massage, yoga and exercise classes.

Sometimes community members require additional support with higher levels of personal care and support to live with dementia. To meet and maintain the highest standards of care the Welfare Team have developed and grown to meet changing needs. Often working alongside the Admiral Nurses in our Dementia Support Service their ability to support family and residents living with dementia has strengthened. The teams continue to work closely with local community services and GP surgeries and adult services to meet the needs of community members. Due to the changing needs of the residents and the new Almshouse development started in 2022, our long-term strategy is to develop our care services and Local Authority funded care both within and outside our almshouses.

There continues to be a Housekeeping Service, which is in great demand.

The CQC registered care service was not inspected in the year but continues to complete it’s annual Provider Information Return, and maintains an overall Good rating with the Care Quality Commission.

A survey took place for those receiving registered care within the almshouses. When asked “Are you happy with the care & support you receive from the welfare team?” 90% said that it was outstanding with the remaining 10% saying it was very good.

By working collaboratively with other St John’s services the Welfare Team can provide a holistic approach when providing care and support. The reintroduction of our community lunches has involved residents in the planning and preparation of a regular lunch in the Almshouse Community Room.

Our Residents’ Forum takes place quarterly and is chaired by a community member who is also our Resident Ambassador ( who represents the charity at official functions.) This Forum gives residents the opportunity to become involved with the Almshouse community and effective management of the Almshouses. The health and wellbeing and ongoing safety of residents is paramount. The Forum provides an opportunity to community members to understand and query budgets, housing policies and services, care provision. The Forum also brings forward suggestions for the benefit of the community as a whole such as a visiting therapy dog, and a walking group. We are particularly proud of the our residents support for Ukraine holding a coffee morning to raise money and taking in donations of clothes to be sent to Ukraine.

ST JOHN’S WINCHESTER

THE TRUSTEES’ ANNUAL REPORT 2022/2023 INCORPORATING A STRATEGIC REPORT

The Almshouses and the Welfare Team have continued to support and collaborate with local charities and groups throughout the year. The Play to the Crowd group that works with the Theatre Royal have involved the Almshouse residents again this year and worked with local schools and the Hat Fair artists in workshops. The groups created hats and flags, banners and carnival decorations. When this was completed, there was a grand finale in the Abbey gardens for a celebratory picnic to celebrate dance and music.

The main aim of the Almshouses for the coming year is to develop the registered care services to support those within the Almshouses and the wider Winchester community in need of social care and living with dementia. The team are planning the support required for the residents moving in to the new Almshouse development to grow the inhouse staff team whilst working with internal and external services.

Almshouse development

In February 2021 work on the Colebrook development of 15 new almshouses began. However, completion of the development has been delayed. Start of site work was held back because of Covid-19 , there have been further delays in the current year due to issues with site access for a crane required for construction, and updated fire regulation requirements where additional works were required. It is now expected that the development will be completed in quarter 4 of 2023.

In late 2016, the Charity began a process of reforming 20 of our Southside almshouses for independent living for older people. The programme worked on the basis that an almshouse would be reformed and modernised as and when it became vacant. During 2022/2023 further 3 were reformed, totalling 18 of 20 completed (we anticipate that the programme will be completed by the end of 2023/24). These reformed almshouses enable residents to remain in our community for longer with support and care, often avoiding the need to move to new accommodation or into care homes.

St John’s Moorside

In March of 2021 a decision was taken in principle to close our Moorside Dementia Home subject to a consultation with staff, residents and the local community. The decision was affirmed in June and the Home closed in Semptember of 2021.

Planning permission to convert Moorside into 18 new almshouses was obtained in the year. We are putting plan in place to cover the escalating costs of development caused by inflation, supply chain issues and labour shortages. For an interim period, rooms and facilities in the property will be made available to younger people at affordable rents through a Property Guardianship provider. The Charity is hopeful that work can commence on the site in 2024/25 once any funding gap has been satisfied. Please refer to ‘Future Plans’ for more information about the Charity’s plans for the Moorside site.

St John’s Hand in Hand

The aim of Hand in Hand is to support older people in the wider community to live independently for as long as possible and to relieve loneliness and social isolation. We continue to work in conjunction with the three GP Surgeries in Central Winchester who refer older people to the service. This year the service opened up the referral pathway so people can self-refer who may be experiencing loneliness and isolation which may impact on their health and wellbeing. We employ a Team Manager, Volunteer Coordinator, Volunteer Training Administrator and two Wellbeing Coordinators.

ST JOHN’S WINCHESTER

THE TRUSTEES’ ANNUAL REPORT 2022/2023 INCORPORATING A STRATEGIC REPORT

In November 2022 the service celebrated its 3[rd] year anniversary since the launch. During this time, we have had over 108 volunteers who have supported over 450 scheme members through befriending, signposting, and by working with proactive care teams and social prescribers based in the GP surgeries.

Our volunteers continue to support older people in our community. In June 2022 the St John’s teams celebrated Volunteer week with lunch on the lawns of northside Almshouses.

The team continue to work closely with Winchester University attending their volunteer events and other fundraising and information days. Students come to St John’s to support our events and get involved. This has resulted in volunteering opportunities, a student placement and paid work within our Welfare Team. This supports the awareness of the wider opportunities within the St John’s services and what they might offer. We often receive very positive feedback on our Hand in Hand volunteers.

A quote from a volunteer:

“I am certain that several of my scheme members have appreciated my visits over the last few years. Knowing that gives me great satisfaction and makes me feel that what I am doing is needed and worthwhile.”

Community Connectors

We are proud that local businesses are supporting St John’s, so people can access our service to get advice and provide information about the Hand in Hand service and the valuable work it does. By the end of March 2023 there were 17 community connector businesses signed up with 2 more waiting to complete the process.

Service delivery

High standards within the Hand in Hand service are very important to maintain a safe and reliable service. The service continues to provide support for volunteers to learn new skills or refresh old ones and a great deal of work has gone in to reviewing all areas of how the Induction and ongoing training programmes are delivered.

The aim for this coming year is to develop specialised volunteers to work with the Dementia Support Service and provide befriending for carers.

The annual review with scheme members regarding the support from our volunteers and the team resulted in positive feedback.

The Hand in Hand service has had in the region of 140 referrals during this year with up to 60 open cases. This equates to a delivery of between 170 and 200 hours of volunteer support time or sign posting time being provided by the team each month.

The service had several volunteers during this time between 35 and 40 volunteers employed throughout the year. The team have opened up opportunities to the wider services and have successfully recruited volunteers to work within the charity and our chapel.

The service has successfully recruited a volunteer training administrator to support the ongoing recruitment process. The marketing and branding plan has successfully been implemented and the marketing reviewed along with a website update. The use of social media platforms has supported this initiative and raised the profile of the Hand in Hand service and the Charity.

A Volunteer strategy is now in place to drive the service delivery and increasing volunteer recruitment and the referral pathway.

ST JOHN’S WINCHESTER

THE TRUSTEES’ ANNUAL REPORT 2022/2023 INCORPORATING A STRATEGIC REPORT

The aim for the coming year will be to focus on implementing the Volunteer Strategy objectives, widen volunteer opportunities within the charity and continue our collaboration with the University. St John’s aims is to gain accreditation with Investing in Volunteers (IiV).

Dementia Service

The Dementia Support Service was launched in September 2022. The service works in partnership with Dementia UK to provide Admiral Nurses support for carers and those living with dementia in the community. The service continues the Charity’s work with the three GP surgeries in Winchester, opening referrals from St Clements, St Pauls and Friarsgate. Self-referrals can be accepted if those accessing the service are registered at these 3 GP surgeries. The service employed a Dementia Support Worker at the beginning of 2023.

By the end of March 2023, the service has received 102 referrals. The highest percentage of referrals into the service since February has been from the Older Persons Mental Health Team followed by the Winchester 3 GP surgeries. During this time the service has supported 5 residents living within the Almshouses.

In the first six months the service set up a Memory Wellbeing centre working with Everyone Active Winchester who provide a space to host the centre. This provides support for carers and those they support to have access to an Admiral Nurse in a safe space. The group runs twice a month with approximately 12 to 18 attending. From this group the carers have joined together to set up a memory walking group. The service supports this group and is there to walk and talk if needed. The aim of the service for the coming year is to continue accepting referrals and open up its pathway to allow access to those in greatest need. An additional carers support centre will be opened supported by the team and volunteers. An increase in the number of volunteers to support carers and those living with dementia in the wider Winchester community will be key.

Homeshare

St John’s Homeshare is a mutually beneficial arrangement where an older householder who has a spare room and would like some help around the home and companionship is matched with a younger sharer who provides 10 volunteer hours . The service facilitates and supports ‘matches’ of householders and sharers.

The Homeshare Service officially launched in October 2022 and is managed by a Homeshare Manager and volunteer. The service provides support is for both parties of a sharing arrangement. During the first 6 months the service had 22 sharer enquiries of which 8 registered. There were 13 householders enquiries, 4 of which registered with the service.

The aim of the service for the coming year is to match 4 householders with sharers. The Homeshare Manager will work on a detailed marketing strategy to raise awareness.

Special expenditure on Charitable

During the financial year reported on, a total of £31K (2022:£12K) was spent on ‘special expenditure’ (maintenance and repair costs not incurred in normal operations) and maintenance in our almshouses. This work comprised of paving repairs and external redecorations at the North Side.

Reformation of Southside Almshouses

To date, a total of 18 almshouses out of 20 have been substantially reformed to meet the needs of older people by creating level access, wet rooms and other features designed to support living independently and well for as long as possible. In 2022/2023 the Charity completed works on 3 further units in the year and expended the sum of £222K on these reformation efforts which make a significant difference to the lives of our residents. We will undertake two further conversions during 2023/24 taking the total completed to 20.

ST JOHN’S WINCHESTER

THE TRUSTEES’ ANNUAL REPORT 2022/2023 INCORPORATING A STRATEGIC REPORT

Colebrook Development of New Almshouses

As detailed in the previous Annual Report work began on the Colebrook site (15 new almshouses) in February 2021. The start of work on site was delayed by Covid and there have been subsequent delays. These delays, and the liability for them, are subject matter of ongoing discussions and negotiations with our contractor Feltham Construction. At present we expect the development to be completed during the third quarter of the current fiscal year. The site is directly contiguous to our existing Southside almshouse community, and this will mean that existing almshouse accommodation will now benefit from the lifts in one of the new blocks. We strive to keep our own almshouse residents and impacted residents fully informed of progress.

Investment Property

The Charity benefits from income generated from a property portfolio, the majority of which is located within Winchester City Centre. The portfolio consists of 28 properties (29 properties in the year to 31 March 2022) across all property sectors and providing 62 lettable units. The portfolio generated gross income of £1.55m in the year, £0.79m net of related expenditure which is reinvested for the benefit of the Charity.

In the previous year there was a 22% reduction in net income which resulted from a mixture of property voids, rent holidays, renewals being made at lower rents, and alternative charging structures such as turnover rents. During the current year the market has stabilised, and net income increased by 4.5%. Whilst we expect the Winchester High Street to prove resilient and the market to improve in due course, the Pandemic has hastened structural changes to the commercial property market, and we expect this reduction in income to prevail for a number of years.

5. Financial Review

The Charity incurred a net deficit (before realised and unrealised gains on investments) in the year ended 31 March 2023 of £(94)K, compared with a net deficit during 2021/2022 of £(611)K. The Charity had budgeted for a deficit of £(14)K in the fiscal year. The increased final deficit figure was mainly due to increased expenditure on the launch of new services and increased maintenance costs for almshouses and the holding of the empty Moorside property.

Total income decreased by 13.5% from £2,633K to £2,277K.

Income from charitable activities has decreased by 38% (as have some costs, see below) from £910K to £560K due to the closure of Moorside Nursing home in September 2021. In the previous fiscal year there was some income shown for the periods that the Home was occupied.

A major proportion of the Charity’s income is derived from its investment in commercial property, consisting of primary and secondary retail units and office premises, mostly in the Winchester area. It is a central objective of the Trustees to optimise the rental income from these properties whilst keeping them in a good state of repair. During the previous 2 years, many of the businesses that occupied these premises could not operate due to the national lockdowns. This resulted in a continued decrease in investment income into 2021/22 with the continuation of agreements with some occupiers for reduced rents due to Covid impact. Vacant premises continued to be challenging to lease. During the current year there was some stabilisation of the market and rental conditions improved with rental income increasing from £1,493K in 2021/22 to £1,586K in 2022/23 (a 6.2% increase).

ST JOHN’S WINCHESTER

THE TRUSTEES’ ANNUAL REPORT 2022/2023 INCORPORATING A STRATEGIC REPORT

The Charity’s other investments are in unitised funds and cash deposits with an overall strategy of obtaining a reasonable return without incurring high risk. The general economic climate has been turbulent during they year and these funds have performed in line with expectations. Withdrawals of £1,280,000 were made from these funds in the year to part fund the Colebrook Street development. At the year-end there was an unrealised gain of £95K (2022 £1,475K) recorded on these investments. This is an increase in value of 0.6% against the previous year end value.

However, there was a fall in the property value 2022/2023 due to a continued but more measured downward shift in the uncertain commercial property market during and at the end of the year, this totalled an unrealised loss of £(1,178)k (£(3,502)K in 2021/22). As the market improves, it is expected that this value will increase in coming years.

The Charity’s expenditure decreased by 27% to £2,371K (2020/21: £3,244K) There were decreased costs for charitable activities mainly attributable to the closure of Moorside in September 2021. There were some increased costs in relation to the launch of the Dementia and Homeshare services.

The Charity’s total net assets decreased by 2.3% from £50,521K to £49,344K. This decrease was largely accounted for by the revaluation of the Charity's commercial property and listed investments, and the deficit incurred during the year.

Reserves

As detailed below in plans for future periods, significant investment is expected in our Charitable properties. During these periods substantial capital expenditure is expected, but upon completion, the projects are expected to enable the Charity to be more financially sustainable in the future. The Trustees draw on designated reserves for extraordinary property repairs, as necessary.

Existing designated reserves are as follows:

Major repairs and rebuilding reserve - investment property : This was established to provide funds for extraordinary property repairs and improvements on investment properties.

Extraordinary repairs reserve - charitable property : This was established to provide funds for extraordinary repairs on the almshouses and nursing homes.

Minibus replacement reserve : This was established to provide funds for a replacement minibus when required.

At the year end the Charity held £17,849K unrestricted reserves, of this £5,278K was designated as detailed above. The remaining unrestricted reserves consist of £10,845K charitable fixed assets and a £1,726K accumulated income reserve.

The Charity also held £7K of restricted reserves where the donor of funds has stipulated the use, and £31,488K represents the permanent endowment made to St John’s Winchester Charity (St John’s Winchester is sole corporate trustee). It is included in these financial statements under a linking directive issued by the Charity Commission.

Reserves policy

During the year the Trustees reviewed the Charity’s reserves position and set a reserve policy reflecting the funding position after the closure of Moorside and the utilisation of funds on the developments of the Colebrook Street site. The policy was set at a Board meeting in March 2023.

ST JOHN’S WINCHESTER

THE TRUSTEES’ ANNUAL REPORT 2022/2023 INCORPORATING A STRATEGIC REPORT

The policy agreed was to aim to retain unrestricted free reserves on a continuous basis equivalent to 12 months ordinary running costs. At the year end the accumulated income reserve was the

ST JOHN’S WINCHESTER THE TRUSTEES’ ANNUAL REPORT 2022/2023 INCORPORATING A STRATEGIC REPORT

Going forward the major risks that the Trustees and senior management team have identified for the future include the following:

Going concern

After reviewing relevant forecasts and projections, the current level of reserves and future plans, the Board has concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and that it remains appropriate to prepare the financial statements on the going concern basis .

6. Future Plans

These are summarised in the section headed Strategy and Future Plans. In short, the Charity will be driving forward its three key strategic goals by:

The first goal the Charity is looking to realise by successfully completing its Colebrook Street development and finalising plans for the Moorside site to create a total of 33 new almshouses and complete the reformation of 20 existing almshouses by 2024.

The second by continuing to operate its Hand-in-Hand service and to continue to build its Homeshare service (launched October 2022).

The third by expanding its Admiral Nurse led Dementia support service into other geographical areas and increase the scope of our offering.

The achievement of these strategic goals will depend on the ability of the charity to attract significant donations and grants through its recently launched fundraising efforts.

ST JOHN’S WINCHESTER

THE TRUSTEES’ ANNUAL REPORT 2022/2023 INCORPORATING A STRATEGIC REPORT

Statement of Trustees’ Responsibilities

The trustees (who are also directors of St John’s Winchester for the purposes of company law) 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), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”.

Company law 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 charitable company, and the income and expenditure of the Charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the Charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure of information to the auditor

In so far as the trustees/directors are aware:

ON BEHALF OF THE TRUSTEES

Roger Bright Roger Bright (Nov 23, 2023 11:34 GMT)

Roger Bright – Chair

Dated 23/11/2023

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ST JOHN’S WINCHESTER

Opinion

We have audited the financial statements of St John’s Winchester (the ‘charitable company’) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 charitable company’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 other information comprises the information included in the Annual Report and Financial Statements, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Annual Report and Financial Statements. 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. 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 course of 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors’ Report contained within the Trustees’ Annual Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities set out on page 14 the trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they 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 charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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 an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

We obtained a general understanding of the charitable company’s legal and regulatory framework through enquiry of management concerning their understanding of relevant laws and regulations, the entity’s policies and procedures regarding compliance, and how they identify, evaluate and account for litigation claims. We also drew on our existing understanding of the charitable company’s industry and regulation.

We understand that the charitable company complies with the framework through:

In the context of the audit, we considered those laws and regulations which determine the form and content of the financial statements, which are central to the charitable company’s ability to conduct its business, and/or where there is a risk that failure to comply could result in material penalties. We identified the following laws and regulations as being of significance in the context of the charitable company:

We performed the following specific procedures to gain evidence about compliance with the significant laws and regulations identified above:

The senior statutory auditor led a discussion with senior members of the engagement team regarding the susceptibility of the entity’s financial statements to material misstatement, including how fraud might occur. The areas identified in this discussion were:

These areas were communicated to the other members of the engagement team not present at the discussion.

The procedures we carried out to gain evidence in the above areas included:

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s 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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

CLA Evelyn Partners Limited

CLA Evelyn Partners Limited (Nov 23, 2023 11:48 GMT)

Julie Mutton Senior Statutory Auditor, for and on behalf of CLA Evelyn Partners Limited Statutory Auditor Chartered Accountants 4th Floor Cumberland House 15-17 Cumberland Place Southampton SO15 2BG

Date: 23/11/2023

ST JOHN’S WINCHESTER

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted Restricted Endowment Total Total
funds funds funds Funds Funds
Notes 2023 2023 2023 2023 2022
£’000 £’000 £’000 £’000 £’000
Income and endowments from:
Donations and legacies 4 13 6 - 19 6
Income from charitable activities -
housing and care provision
Contributions from charges due 2 560 - - 560 910
Investments 3 1,626 - - 1,626 1,527
Other income
Profit on disposal of fixed assets 72 - - 72 190
______ ______ ______ ______ _____
Total income and endowments 2,271 6 - 2,277 2,633
Expenditure
Expenditure on raising
funds
Cost of managing 5 753 - - 753 683
investments
_ __ _ ______ _____
Expenditure on charitable activities
Housing and care provision 6 1,618 - - 1,618 2,513
Other costs
Loss on disposal of fixed - - - - 48
assets
_ __ _ ______ _____
Total expenditure 2,371 - - 2,371 3,244
__ _ _ ______ _____
Net expenditure before 8 (100) 6 - (94) (611)
(losses)/gains on
investments
Net unrealised gains/(losses) on 78 - (1,161) (1,083) (2,027)
investments
Net realised gains/(losses) on - - - - 1,553
investments
______ ______ ______ ______ _____
Net (expenditure)/income (22) 6 (1,161) (1,177) (1,085)
_ _ _ ______ _____
Net movement in funds (22) 6 (1,161) (1,177) (1,085)
Reconciliation of funds
Funds brought forward at 01 18 16,868 5 33,648 50,521 51,606
April
Transfers 18 1,003 (4) (999) - -
Funds carried forward ______ ______ ______ ______ _____
at 31 March 18 17,849 7 31,488 49,344 50,521
---------- --------- ---------- --------- ---------

All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above Accounting policies and other notes on pages 21-31 form part of these financial statements

ST JOHN’S WINCHESTER BALANCE SHEET AS AT 31 MARCH 2023

Notes
Fixed assets
Tangible fixed assets
9
Investments
10
Total fixed assets
Current assets
Cash at bank and in hand
Debtors and prepayments
11
Creditors amounts falling due
in one year
12
Net current assets
Total assets less current liabilities
Creditors: amounts falling due
after more than one
year
13
Total net assets
Funds
Permanent endowment and
associated reserves
Permanent endowment
fund
18
Capital recoupment
reserve
18
Investment revaluation
reserve
18
Restricted funds
Donation funds
18
Unrestricted funds
Charitable property
reserve
18
Other designated
reserves
18
Accumulated income
reserve
18
Total Charity funds		 Unrestricted
Funds
2023
£’000
10,042
7,563
___
17,605
634
706
__
1,340
(1,046)
__
294
_
17,899
(50)
_
17,849
=======
-
-
-
_
-
-
_
-
10,845
5,278
1,726
_
17,849
_
17,849
=======		 Unrestricted
Funds
2023
£’000
10,042
7,563
___
17,605
634
706
__
1,340
(1,046)
__
294
_
17,899
(50)
_
17,849
=======
-
-
-
_
-
-
_
-
10,845
5,278
1,726
_
17,849
_
17,849
=======		 Restricted
Funds
2023
£’000
-
-
___
-
7
-
__
7
-
__
7
_
7
-
_
7
=======
-
-
-
_
-
7
_
7
-
-
-
_
-
_
7
=======		 Restricted
Funds
2023
£’000
-
-
___
-
7
-
__
7
-
__
7
_
7
-
_
7
=======
-
-
-
_
-
7
_
7
-
-
-
_
-
_
7
=======		 Endowment
Funds
2023
£’000
872
30,616
__
31,488
-
-
_
-
-
_
_
-
_
_
31,488
-
_
_
31,488
=======
=
28,230
2,975
283
_
_
31,488
-
_
__
-
-
-
-
_
_
-
_
_
31,488
=======
=		 Endowment
Funds
2023
£’000
872
30,616
__
31,488
-
-
_
-
-
_
_
-
_
_
31,488
-
_
_
31,488
=======
=
28,230
2,975
283
_
_
31,488
-
_
__
-
-
-
-
_
_
-
_
_
31,488
=======
=		 Total
Funds
2023
£’000
10,914
38,179
______
49,093
641
706
______
1,347
(1,046)
______

301
______

49,394
(50)
______

49,344
======
=
28,230
2,975
283
______

31,488
7
_

7
10,845
5,278
1,726
______
_
17,849
______
49,344
======
 Total
Funds
2022
£’000
7,767
40,426
______
48,193
2,796
386
__
3,182
(801)
_
2,381

50,574
(53)

50,521
======
29,409
3,943
296

33,648
5
__
5
7,692
7,522
1,654
__
16,868
____
50,521
======
___ ___ __
__
__
_
_
=
__
___


=		 __
__
_
_
=

__

_
=		 _
_
_
_
==




==		 _
_
_
_
=

__

_
=

The accounting policies and other notes on pages 21-31 form part of these financial statements The financial statements were approved by the Trustees on……………….

Roger Bright

Roger Bright (Nov 23, 2023 11:34 GMT) C M Day (Nov 23, 2023 11:38 GMT) ………………………….. ……………………….. Roger Bright- Chair Christopher Day- Trustee

Roger Bright (Nov 23, 2023 11:34 GMT)

ST JOHN’S WINCHESTER CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

Notes
Cash used in operating activities
1
Cash flows from investing activities
Investment income
Purchase of tangible fixed assets
Purchase of investments
Receipts from the sale of investments
Receipts from the sale of fixed assets
Cash (used in)/from investing activities
Cash flows used in financing
activities-repayment of debt
(Decrease)/increase in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Total cash and cash equivalents at the end of the year		 £’000
1.
Reconciliation of net movement in funds to the net cash flow from operating activities		 1.
Reconciliation of net movement in funds to the net cash flow from operating activities
Net (expenditure)/income before
gains/(losses) on investments (94) (611)
Investment income included in investing activities (1,630) (1,527)
Depreciation charge 86 85
Profit on disposal on the sale of fixed asset (72) (190)
Write off of fixed assets - 48
(Increase)/Decrease in debtors (320) 17
Increase/(Decrease) in short- term creditors 245 (212)
_ _
Net cash used in operating activities (1,785) (2,390)
----------- -----------

2. Analysis in changes in net debt

Cash and cash equivalents
Cash
Borrowings
Due in more than 1 year
Total		 At 1 April 2022
Cash flows
At 31 March
2023
2,796
(2,155)
641
(53)
3
(50)
(53)
3
(50)
2,743
(2,152)
591

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. PRINCIPAL ACCOUNTING POLICIES

St John’s Winchester ("the Charity") is a private company limited by guarantee and is incorporated in England and Wales; the registered office address is 32 St John’s South, Winchester SO23 9LN and the registered number is 10903970. The company is also a registered Charity number 1174290.

The accounts have been prepared in accordance with The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102"), Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with FRS 102(effective 1 January 2019) (the SORP) and the Companies Act 2006.

(a) Basis of accounting

The accounts include the results of both St John’s Winchester and the Permanent Endowment Fund of St John’s Winchester Charity, which are combined for reporting purposes under the linking direction issued by the Charity Commission on 9 May 2019.

The Charity meets the definition of a public benefit entity under FRS102. Under this definition financial statements are prepared on the historical cost basis of accounting with the exception of the valuation of the freehold investment property and investments.

The accounts are prepared on a going concern basis. The Trustees have carefully reviewed the future prospects of the Charity and its future cash flows and have reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future being at least the next 12 months from the signing of these accounts.

Charitable income represents maintenance contributions receivable in the case of the almshouses, and in the prior year care home charges due at Moorside. Income is recognised in the period to which it relates. All income is included in The Statement of Financial Activities (SOFA) when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy, except for grants and donations where the donor imposes conditions which have to be fulfilled before the Charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the pre-conditions for use have been met.

For legacies, entitlement is taken as the earlier of the date on which either: the Charity is aware probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Charity that a distribution will be made, or when a distribution is received from the estate. Receipt of the legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the Charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the Charity, or the Charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

.

(c) Fixed Assets

Properties acquired are included in the balance sheet at cost less depreciation. Historic assets i.e. properties constructed prior to 1900 are not included in the balance sheet as their costs, which have been fully written off, are not possible to ascertain. These freehold properties have not been included at a valuation due to the impracticality of such valuation. The Charity's policy is to maintain the properties to a good standard through a continuing programme of refurbishment and maintenance. Depreciation is charged on a straight-line basis over 50 years.

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

PRINCIPAL ACCOUNTING POLICIES (Continued)

(ii) Equipment

Equipment and fittings are included in the balance sheet at cost and depreciated at 10%- 20% straight line per annum.

(d) Investments

(i) Investments

Investments are included in the balance sheet at market value. Investment income is recognised in the period to which it relates (property) and when receivable (listed).

(ii) Investment properties

These are included in the balance sheet at the Trustees' valuation based upon professional advice. The surpluses or deficits on revaluation of individual properties are transferred to the permanent endowment fund. Depreciation is not provided in respect of freehold investment properties.

(e) Defined Contribution Pension Schemes

The pension costs charged to the Statement of Financial Activities represent the amount of contributions payable to the schemes in respect of the accounting period.

(f) Charitable property reserve

This capital reserve represents that proportion of the cost of properties, net of depreciation which was financed from the Charity's accumulated income reserve.

(g) Capital recoupment reserves

These reserves represent the recoupment from revenue over an extended period of that proportion of the costs of properties purchased or receiving major improvements in past years which was financed from permanent endowment funds.

(h) Repairs and rebuilding reserves

These reserves represent amounts set aside to carry out future major repairs and rebuilding of charitable and investment properties. The policy for investment in these reserves is the purchasing of units in NAACIF on a quarterly basis.

(i) Value added tax

The Charity was registered for value added tax in July 2005 for the purpose of acquiring the industrial unit in Totton. This is the only property that has been ‘opted to tax’. In these financial statements, where applicable, all other expenditure is shown inclusive of VAT.

(j) Expenditure

Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. PRINCIPAL ACCOUNTING POLICIES (Continued)

(k) Allocation of overhead and support costs

Overhead and support costs relating to charitable activities have been apportioned at 70% and the costs of managing investments at 30%, based on staff time and salaries.

(l) Redundancy costs

Redundancy and termination costs are recognised as an expense in the Statement of Financial Activities and a liability on the Balance Sheet immediately at the point the Charity is demonstrably committed to terminate the employment of an employee or group of employees or provide termination benefits as a result of an offer made in order to encourage voluntary redundancy. The Charity is considered to be demonstrably committed only when it has a detailed formal plan for the termination and is without realistic possibility of withdrawal from the plan.

(m) Financial instruments

The Charity has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans and mortgages which are subsequently measured at amortised cost using the effective interest method. The Charity also has listed investments which are financial assets measured at fair value

(n) Key sources of judgement and estimation uncertainty

In the application of the Charity’s accounting policies, described in the accounting policies above, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

The Trustees consider that the following are key estimates:

(o) Exemption from preparing consolidated accounts

As permitted under Section 405 of the Companies Act, the charitable company has taken the exemption from the requirement to prepare consolidated financial statements as the exclusion of its subsidiary, St John’s Community Housing Limited, is not material for the purposes of giving a true and fair view.

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2
3
4
5
6		 INCOME FROM CHARITABLE ACTIVITIES
Almshouse weekly maintenance charge
Care and care home fees
_
=
INVESTMENT INCOME
Investment property rental income
Common investment funds
Other income
___
===
INCOME FROM DONATIONS AND LEGACIES
Donations
Legacies
__
===
COST OF MANAGING INVESTMENTS
Professional fees
Property repairs and maintenance
Irrecoverable rent arrears
Support costs
__
===
EXPENDITURE ON CHARITABLE ACTIVITIES
Staff and agency costs
Property and equipment costs
Direct costs
Support costs
Charitable property mortgage
__
===		 2023
£’000
516
44
_____
560
=====
2023
£’000
1,586
35
5
____
1,626
====
2023
£’000
17
2
_____
19
====
2023
£’000
103
430
34
186
_____
753
====
2023
£’000
541
428
209
437
3
_____
1,618
====		 2022
£’000
519
391
_
910
=======
2022
£’000
1,493
31
3
_
1,527
=======
2022
£’000
6
-
_
6
======
2022
£’000
102
368
7
206
_
683
=======
2022
£’000
1,007
792
377
382
3
_
2,561
=======

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

7
8		 SUPPORT AND GOVERNANCE COSTS
Charitable
Investment
Activities
Management
£’000
£’000
Staff costs
305
130
Office equipment and IT
39
17
Legal fees
5
2
Strategic, PR and HR
consultancy
15
7
Repairs and renewals
11
4
Sundries
32
13
Governance
30
13
__
__
___
437
186
========
========
===
Charitable
Investment
Activities
Management
£’000
£’000
Staff costs
267
144
Office equipment and IT
26
16
Legal fees
17
9
Strategic, PR and HR
consultancy
11
6
Office
repairs
and
utilities
19
10
Sundries
18
8
Governance
24
13
__
__
___
382
206
========
========
===
NET INCOME/EXPENDITURE
2023
Surplus is stated after charging-
£’000
Depreciation- tangible fixed assets
86
Auditor’s remuneration (including VAT)
-in their capacity as auditor
21
========
===		 2023
Total
£’000
435
56
7
22
15
45
43
_____
623
=====
2022
Total
£’000
411
42
26
17
29
26
37
_____
588
=====
2022
£’000
85
16
=====

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9 TANGIBLE FIXED ASSETS Charitable Equipment Total
Property
£’000 £’000 £’000
Cost or valuation
At 1 April 2022 8,596 413 9,009
Additions 3,347 11 3,358
Disposals (131) - (131)
_ _ _
At 31 March 2023 11,812 424 12,236
======= ======= =======
Depreciation
At 1 April 2022 904 338 1,242
Charge for the year 69 17 86
Disposals (6) - (6)
_ _ _
At 31 March 2023 967 355 1,322
======= ======= =======
Net book value at 31 March 2023 10,845 69 10,914
======= ======= =======
Net book value at 31 March 2022 7,692 75 7,767
======= ======= =======
All charitable properties are freehold.
10
INVESTMENTS		 Investment Listed Cash or Total
properties investments Cash
Equivalents
£’000 £’000 £’000 £’000
At 1 April 2022 24,781 15,620 25 40,426
Additions - 116 - 116
Disposals - (1,280) - (1,280)
Change in market value (1,178) 95 - (1,083)
_ _ __ __
Valuation at 31 March 2023 23,603 14,551 25 38,179
======= ======= ======== =======
Investment Listed Cash or Total
properties investments Cash
Equivalents
£’000 £’000 £’000 £’000
At 1 April 2021 30,637 14,029 25 44,691
Additions - 116 - 116
Disposals (2,354) - - (2,354)
Change in market value (3,502) 1,475 - (2,027)
_ _ __ __
Valuation at 31 March 2022 24,781 15,620 25 40,426
======= ======= ======== =======

The investment properties form part of the permanent endowment of the Charity and generate the principal revenues with which to finance its charitable activities. The properties have been revalued by the Trustees as at 31 March 2023 after consultation with Carter Jonas.

Subsidiary undertakings

St John’s Community Housing Limited was incorporated on 14 January 2021 and has not traded since its incorporation. St John’s Community Housing Limited was incorporated as a private company limited by guarantee without share capital, incorporated in England & Wales. Its registered office is 32 St. Johns South, The Broadway, Winchester, United Kingdom, SO23 9LN.

At 31 March 2023, St John’s Winchester holds 100% of the voting rights and the power to appoint or remove a majority of the board of directors of St John’s Community Housing Limited hence this constitutes significant control under FRS102 and St John’s Community Housing Limited is therefore considered a 100% subsidiary of the company. The aggregate amount of St John’s Community Housing Limited capital and reserves as at 31 March 2023 was £nil.

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

11
DEBTORS

Investment property rents
Other debtors and prepayments
____
====
12
CREDITORS: Amounts falling due within one year

Trade creditors
Other creditors
PAYE and other taxes
Accruals and deferred income
____

====
12.a Deferred income (included in note 12)


Balance as at 1 April
Amounts released to investment income
Amounts released to income from charitable activities
Amounts deferred in the year
------
Balance as at 31 March
===		 2023
2022
£’000
£’000
251
247
455
139
____
_
706
386
====
=======
2023
2022
£’000
£’000
244
145
45
51
30
23
727
582
____
_
1,046
801
====
=======
2023
2022
£’000
£’000
417
475
(305)
(300)
(112)
(175)
640
417
--------
----------
640
417
=====
=======

13. CREDITORS: Amounts falling due after more than one year

The loan from The Housing Corporation is secured by charges on the Charity’s housing properties and is repayable in annual instalments with interest rates and final repayment date as follows: -

Housing Corporation -
Final repayment date 30.09.2044		 Interest
Rate
2023
£’000
10.250%
50

----------
--		 2022
£’000
53
--------

14. TRUSTEES’ REMUNERATION AND EXPENSES

The Trustees neither received nor waived any emoluments during the year (2022: Nil). Trustees were reimbursed expenses of £ Nil (2022: £Nil).

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

STAFF COSTS
15.
2023
 2022
The average number of employees (both full and part time)
employed by the Charity during the year was
Charitable activities 29 47
Management and administration 11 11
---------- ----------
40 58
===== ======
£’000 £’000
Wages and salaries 1,012 1,359
Social Security costs 93 118
Pension costs 59 84
Redundancy payments - 285
---------- ----------
1,164 1,846
====== ======
No redundancy payments were made in the year (2022: £284,992). Payments in the previous year were made on the
termination of employment for employees of Moorside Nursing home which closed in September 2021.
The number of employees whose emoluments as defined for 2023
 2022
taxation purposes amounted to over £60,000 in the year was:
£70,000- £80,000 1 1
£’000 £’000
Pension contributions paid in respect of higher paid
Employees 6 6

The Key management personnel of the Charity comprise the trustees, the Chief Executive Officer, Head of Care Quality, Finance Director, Facilities Manager, and Investment Property Manager. The total employee benefits (including employers’ national insurance) of the key management personnel of the Charity were £315,468 (short term benefits £294,454, long term benefits £21,014) (2022: £ 304,244 (short term £ 283,860 long term benefits £20,384)).

All pension costs are charged against unrestricted funds.

16. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES

Capital commitments for amounts contracted at the balance sheet date totalled £253,378 (2022: £2,562,779).

17 . TAXATION STATUS

St John’s Winchester is a registered Charity whose income is generally exempt from liability to corporation tax by virtue of its charitable objectives and activities. As explained in Note 1 (i), the Charity is unable to recover the majority of VAT charged on purchases of goods and services.

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

18 STATEMENT OF FUNDS
At 1 April
Income
Expenditure
Investment
Transfers
At 31 March
2022
gains/(loss)
2023
£’000
£’000
£’000
£’000
£’000
£’000
Unrestricted funds
Charitable property
reserve
7,692
-
-
-
3,153
10,845
Minibus replacement
reserve
31
-
-
-
-
31
Major repairs and rebuilding reserve-
Investment property
5,050
-
-
58
(1,127)
3,981
Extraordinary repairs reserve-
charitable property
2,441
-
-
29
(1,204)
1,266
Accumulated income
reserve
1,654
2,271
(2,371)
(9)
181
1,726
_
_
_
_
_
_
16,868
2,271
(2,371)
78
1,003
17,849
=======
=====
=======
=======
=======
=======
Restricted funds
Garden
-
5
-
-
-
5
Donations Hand in Hand
2
-
-
-
-
2
Donations Defibrillator
3
1
-
-
(4)
-
_

_
_
_
_
Total restricted funds
5
6
-
-
(4)
7
=======
=====
=======
=======
=======
=======
Endowment funds
Permanent endowment
funds
29,409
-
-
(1,179)
-
28,230
Investment revaluation
reserve
296
-
-
(13)
-
283
Capital recoupment
reserves
3,943
-
-
31
(999)
2,975
_

_
______
__
_
Total endowment funds
33,648
-
-
(1,161)
(999)
31,488
=======
=====
=======
========
========
=======
Total funds
50,521
2,277
(2,371)
(1,083)
-
49,344
=======
=====
=======
=======
=======
=======

Funds

Unrestricted funds comprise of those funds with the Trustees are free to use in accordance with the charitable activities.

Charitable property fund represents the net book value of charitable property held as fixed assets.

Designated funds

Major repairs and rebuilding reserve- investment property: This was established to provide funds for extraordinary property repairs and improvements on investment properties.

Extraordinary repairs reserve- charitable property: This was established to provide funds for extraordinary repairs on the almshouses and nursing homes.

Minibus replacement reserve: This was established to provide fund for a replacement minibus when required.

The Endowment Fund represents those assets which must be held permanently by the Charity, principally investment properties. Income arising on the endowment fund can be used in accordance with the objectives of the Charity and is included as unrestricted income. Any gains or losses arising on the investments form part of the fund.

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

19. FINANCIAL INSTRUMENTS

Financial instruments measures at fair value
2023 2022
£’000 £’000
Investments measured at fair value 14,551 15,620
====== ======

20. RELATED PARTY TRANSACTIONS

The Charity has a working relationship with Winchester City Council (“WCC”) and the Council has the right to nominate 2 of our trustees (see the Trustees’ Annual Report). During the year there was 1 trustee nominated by the Council, Kelsie Learney.

During the year £60,348 (2022: £84,401) of payments were made to WCC for the payment of council tax and planning fees. All of these conducted on an arm’s length basis based upon standard charges levied by way of a set calculation by WCC.

Details of compensation payable to key management is disclosed in note 15.

ST. JOHN’S WINCHESTER

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

22. STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted Restricted Endowment Total Total
funds funds funds Funds Funds
Notes 2022 2022 2022 2022 2021
£’000 £’000 £’000 £’000 £’000
Income and endowments from:
Donations and legacies 4 2 4 - 6 4
Income from charitable activities -
housing and care provision
Contributions from charges due 2 910 - - 910 1,734
Grants - - - - 33
Investments 3 1,527 - - 1,527 1,821
Other income
Profit on disposal of fixed assets 190 - - 190 47
______ ______ ______ ______ _____
Total income and endowments 2,629 4 - 2,633 3,639
Expenditure
Expenditure on raising
funds
Cost of managing 5 683 - - 683 758
investments
_ __ _ ______ _____
Expenditure on charitable activities
Housing and care provision 6 2,483 30 - 2,513 3,461
Other costs
Loss on disposal of fixed 48 - - 48 -
assets
_ __ _ ______ _____
Total expenditure 3,214 30 - 3,244 4,219
__ _ _ ______ _____
Net expenditure before 8 (585) (26) - (611) (580)
gains/(losses) on
investments
Net unrealised gains/(losses) on 799 - (2,826) (2,027) (473)
investments
Net realised gains/ (losses) on (31) 1,584 1,553 -
investments
______ ______ ______ ______ _____
Net income/(expenditure) 183 (26) (1,242) (1,085) (1,053)
_ _ _ ______ _____
Net movement in funds 183 (26) (1,242) (1,085) (1,053)
Reconciliation of funds
Funds brought forward at 01 18 16,685 31 34,890 51,606 52,659
April
Transfers 18 - - - - -
Funds carried forward ______ ______ ______ ______ _____
at 31 March 18 16,868 5 33,648 50,521 51,606
---------- --------- ---------- --------- ---------