THE HOSPITAL OF WILLIAM PARSON KNOWN LOCALLY AS STOKK HosprrAL ANNUAL REPORT AND UNAUDITED FINAI4CIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 R¢glstered Charity 1186592 THK HosprrAL OF WILLIAM PARSON KNOWN IAICALLY AS STOKE HospYfAL Ai¥fwAL REPORT AND UNAUDrrED FINANCIAL STATEMEWFS FOR THE YEAR ENDED 31 DECEMBER 2021 CONTENTS PAGE Legal and Administrative Information R¢port of the Trusle¢s Independent Examiner's Report Statement of FinAn¢ial A¢tiviti¢s Balan￿ Shc¢¢ Note$ fomiing pArt of the Financial Statements 9-17 Value for Money Ststement 17 The followimi pAEe doe# lom PArt of lh¢ thtytory aecoints Detailed Income and Expenditure Alwunt 18 THE HOSPITAL OF WILLtAM PARSON KNOWN LOCAILY AS STOKE HosP￿AL Pwl FOR ThE YEAR ENDED 31 DECEMBER 2021 REGISTERED CHARrrY No: 1186592 REG]STKRED ALMSHOUSE NO: 143 TrUSTEES The Trustees in office during th¢ period W+Xe: Mrs S Oviatt Ham (Chair) Mr D Clarke Mrs S Godfrey Mrs L Green Mrs S Harris Mrc Kirton Mr S Lovel¢s$ Mrs P May (resigned 28 January 2022) Mr R Poin*r Clerk to Trustees.. Mrs Shona Mcconnell Principal otTi¢e: Stoke Hospitsl Office 92 Stok¢ Road Guildford Surrey GUI 4JH PROFESSIONAL ADVISERS Bankers: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Keni ME194JQ Independent Examiner: Mr R M txllmett 20 Strathavon Close Cranleigh Surrey GU6 8PW Investsnent Provider.. M&G Investments P O Box 9038 che]￿$fOrd CM99 2XG P4￿2 KNOWN LOCALLY AS STOKE HOSPITAL REPORT OF THE TRUSTEES OF THE CHAR￿ABLE INCORPORATED ORGANISATION FOR THE YEAR ENDED 31 DECEMBER 2021 Th¢ Tn￿t￿5 present their report and the financial stat¢ments of The Hospithl of William Parson (* Charity,) for th¢ y¢ar ended 31 De¢¢mkr 2021. Constitution The Hospita] of William Parson (known locally as Stoke Hospitsl) is a Charitable Incorporated Organisation ('CIO') ￿gist￿rd with th¢ Charity Commission. On l October 2020 it took ov¢r the OFtrations and ￿ets of the eh8rit4bl¢ trust also known as Th¢ Hospital of William Parsoo. Thi$ trust had been estsblished by a will dated l October 1783. The Charity is registered with th¢ National Almshouse Aswiatioffj membership number 143. It 1$ also a regisfrred provider of social housing, numb¢r 513 l. ObjeetAves *lld activities for the pyblle b¢neti¢ I'he prin¢ipal object of the Charity is to provide accommodation foT fourteen persons over the age of 50 years with a connection to Surrey. The Trustees are pleased to Say that during lh¢ Year this objective was achieved. The Trnstses have considered the Charity Commission'8 8uidanc¢ on public benefiL and are satisfted that the work of the Ch8rity durin8 the year provided appropriate publi¢ benefrt in accordance with it$ stst¢d objective5. The criteria used to ￿$¢$8 th08¢ who may benefit are not unreasonably restrietiv¢. Trw8¢ees and PrlndpAI onken The ChBrity is admini$t¢red by a EK)dy of between five and ten trustees. Eight were appointed ￿ first tru$l¢¢s in November 2019, with ternis of office of b¢tween one and four years, to avoid the risk of all lernis of office ¢nding at the same time. Apart from th¢s¢ firsl trustees. others Are apwinted for a tern? of four years. I njstees ¢an ￿18￿ or be removed before their terni of office ends and they can be reappointed at th¢ expiry of that terni. The name$ of th¢ trust¢¢s who have held office during the year are set out on page l. In recruilhn8 individua15 for appointmenl as trustee4 the Tryst¢¢$ hav¢ regard to the skills, knowledge and experience needed for the effective adTninislralion of the CIO. The Trustees may invite Worpl¢sdon Parish Council and the PCC of St John the EvAngelist, Stok¢-n¢xt-Guildford to recommend candidatss for appotntm¢nt as irnstees if a vacancy arises, although the TnLStees are not Oblig￿ to accept the recommendation. A¢¢ountlfjg Prlndpl¢J The CIMrity is a Registered Social Housin8 Provider, but &8 a R¢gist¢r*l Ch¥rity and Almshouse is eligible to prepare its accounts in ￿0rdance with th¢ Charity Ststement of Recommended Practic¢ (SORP). Th¢ ounting p)lictes atr set out on pages 9 10. Inves¢melli Polley The ehority may invest monies not needed for immediats working pun)os¢$. The Tnthtees detern)ine from time to time wheiher thi% should be in bank deposits or longer4erni inveslmenÉs and when and whether they should seek outside advice. The Cliarity's inv¢stm¢nt poli￿ is to achieve the highest rate of return with the le8St risk to capT1￿ value. which the Trnstees believe they have achieved during the Year primarily by investing in M&G Charity Multi-asyet Fun(L whith is designed to meet these objective& Jnv¢sth)ents are included in the accounts at market value. THE HOSPITAL OF WILLIAM PARSON KNOWN LOCALLY AS STOKE HosprrAL P4e3 REPORT OF THE TRusfEES (eoDtiDued) FOR THE YEAR ENDED 31 DECEMBER 2021 Flo*udal Revknw The clwity in¢urred a deficit for the year (￿fore revaluations) of £4.134 ¢ompar¢d with a surplus in the previous period of £2,758. 1.his was after incurrittg repair and maintenance e4)sts of £65,619. The value of investment$ in¢rwed by £7.802 (£5,511 in the prior peri￿). resulting in a surplus for the year of £3,668 {£8,269 in the prior period). Net assets at 31 L)ecember 2021 totalled £206,035 ￿mpared with net assets at 31 December 2020 of £202.367, Endowrnemt Funds Th¢ original buildings of Stoke Hospitsl and subsequent tdditions forni the pemwient endowment of the Charity (which was transferred from the original clJaritabl¢ trust on l Octob¢r 2020). Titio ty th¢ prop¢rty is in the name of th¢ CIO ¢harity* kn Ix h¢ld*on its 0ri8inAI tswst. R¢serv¢8 Pollcy In Addition to Endowment Funds and Restricted Funds the Charity holds unr¢strict¢d funds against possible future specific and general expenditure. D¢5ignal¢d reserves have been estsblished in accordanc¢ with Almshouse A$woiAtion guidane¢ to fund filtU￿ cyclical maintenance and eXtr￿rdinary repairs AdditionAlly to improve the ￿sIdents, lounge (known as 'The Chapel.). The remaining 8enernl reserve is held against unforeseen futtwe ￿ents and to build up funds foT future improvements to Stoke Hospitsl. The Trustees aim always to hold an 8mount in genernl reserves at le&st repr¢sentin8 3 month's eX￿dItUre. Restricted funds Can legalty only be spent for the putyose for which they were given. There w¢r¢ no r¢stri¢ted funds 8t the year end. RIBk Revlew The major risks to which the charity is exEh)sed as identified by the Tn￿te¢4 have been reviewed and systems have be¢n establish¢d lo mitigate those risks. The T￿Sle¢S ar¢ satisfi¢d also that they comply with the Gov¢rnan¢e and FAnancial Viability Standard issued by th¢ R¢8ulator of Social Housing. 2021- Revlejv of the YeAr's Activities During 2021, activiti¢s at Stoke Hospitsl continued to be dominatd by man48in8 the impact of the Covi&19 p￿deMiC and eompleting the adminislrntion asWQiated with the change of stNcture to a CIO. Trustee meetings of the CIO w¢r¢ h¢ld by or email during the first half of the year, ttcause of the Covid-19 pandemic. Electronic4lly held ￿￿1ng$ are pernjiiied in its ConstithtioTJ. Fmm August to November 2021. face to face meetillgs wer¢ ￿$ll￿ed, implementing an 4gr¢ed protocol to make them as Covid-secure ￿ possible. We continued to provide regular iTJfornt&tion and advice sheets for the resid¢n 5ummarisin¥ relevanl changes in the national Covid-19 regulations. They wntknued to respond to the Siti￿tIOn with common sense and resilience. Only one resideni tr￿ed posttive for Covid. in December. and it was thonkfully a mtld tnfection requiring nothing mor¢ than the ststutory isolation period. /continued THE HOSPITAL OF WILLIAM PARSON KNOWN LOCALLY AS STOKE HosprrAL Pa￿4 REPORT OF THE TRUSTEES (¢ontiou¢d) FOR THE YEAR ENDED 31 DECEMBER 2021 2021- Review of the YeAr?J Activitia (CO￿lAmed) During th¢ SUMM￿ period we again entetrd the Guildford in Bloom competition and We￿ oTrx again awarded a gold medal. When Covid ￿striCtl0nS r¢lax¢l w¢ were also able io hold a bth¢cue for the residents in July: this was the first s￿1￿1 ¢v¢nt that had been possible since the start of the pandemic. With the resurgence of Covid towards the end of the year. it was unfortunately necessary lo ¢4ncel the plannsj Christmas events of the Mayor's coffee morning and the carol seTVi¢e. both for a second year. W¢ w¢r¢ pleased that th¢ ￿Sidents were still able to have a socia] gathering without any outsiders preseoL During 2021. one new resident moved into Stoke Hospital and report8 that she is very happy to hav¢ done 80. The annual ii¢sid¢nts' Survey w4$ ¢4rri¢d out for the sixth year and the Trustees wer¢ pleased to see that the responw We￿ again very positiv¢. All su88estions and ¢on¢erns were followed up. In accordan￿ with Charity Commission guidance, a number of policies hav¢ been reviewed and 8mend¢d if thought n¢cessary. Ones r¢lating to Safeguarding, Health & Safety. Complaints, Data Proteclion and Equality & Diversity were approved without need for amendment. Th¢ Rtsk Mana¥cmcnt policy was updated to include r¢f¢r¢n¢e to possible risks arising from ¢limate change and minor 8mendments were mad¢ to the Mobility S¢ooter policy. Substanti￿ safety improveTh¢nt$ were made during the year. Followin8 th¢ annual fire risk as8essmen¢ all Pir¢ di)ors were Up￿ded. to have three rather than two hinges and fitted with inturne￿¢nt strips. Closures were replaced on three doors. Gaps and holes in the electrical ¢upFx)ard were filled. The fire alarni w&$ r¢placed with a modern one and some emergency li8hiin¥ upgraded. Th¢ emergency alarni system connecting with the ¢all centre wa5 r¢pla¢ed with a modern di8ital one. In addition to routine maintetwice in a number of flat4 other signifi¢￿t impmvements in¢luded rwting the staipJ 8nd halt￿yS in one block and replacing three boilers while servicing the others. The side diK)r to Onslow Street wLq repairnj and substantial repair Work carried out on th¢ ¢xternal brick wall. All the adminis¢r&trv¢ tasks re1￿Ing to th¢ change of structur¢ from an unincorpornted charitable trust to a CIO (Charithble Incor￿)rated Organi58tion) were finally ¢4)mpleted ID 2021. We had started th¢ process in the autumn of 2018 and progress suffered severe delays from the impact of the pandemie. In Febnwy. the Deed of Covenant with Homes England was ¢omplete41 and 5ign¢d. We then applied to the Regulator of Social Housing to register the CIO and this was fmalis¢d in June, with registration backdatd to March. unin¢orpornt¢d charity was de-ttgistered. We applied in March to the IAnd Registry to change the title of the pernllnently endowed property from that of four named tNstees io thAt of the CIO as sole trnstee. This was confirni¢d in Augus¢ with the transfer dated ￿ from l4 May. We notified the Cl)arity Commission in March of our intention to merge the two charities. This was agreed and took pla¢e on 14 May> It published on the Register of Mergers in (ktoiw. THE HOSPITAL OF WILLIAM PARSON Ie reached. Raymond Dunnett 20 Strathavon Close Cranleigh Surrey* GU6 8PW Date THE HOSPITAL OF WILLIAM PARSON KNOWN LOCALLY AS STOKE HosprrAL Pl￿7 STATEMEWT OF FINANCIAL ACTIvrrIES INCLUDING INCOME AND EXPEiwrruRE AccoiINr FOR THE YEAR ENDED 31 DECEMBER 2021 Uora¢rithl Restricted Endowment Fullds FuDd$ Funds Total Y¢4r tDd¢d Yur ¢nd*d Year ettded Ye*r ended 26n1119 to 31112ni 3J112121 31112lll 31112r21 31112no Notsy Ineome and Endowments from: Donations Charttable Activities Investsnents 7.050 90,936 2.720 830 7,880 90,936 2,720 240 22.031 715 Totsl 100,706 830 101,536 22.986 Expendlture OD: Charitsble activtties Governance 101,184 3,071 1.415 102,599 3,071 20213 15 Totsl 104.255 1,415 105,670 20.228 Ne¢ Op¢r*tlni lne0m￿(￿XpeDd1¢llrej (3.549) (585) (4.134) 2.754 Net gains on investm¢nts 7.802 7.802 5.511 Net IneomeJ(Expendlture) for the yeAr 43 8269 Trnnsf¢r between fund (585) 585 Net movement In fundj 8269 Fund balances at l January 2021 Trnnsfer from ori8inAI Trust 155,613 46.754 202.367 194.098 b•]*•¢¢8 * 31 Detember 2021 159281 46,754 21W35 202a67 The ststement of financial activities includes all gains and1058e5 recognised in the year. All in¢ome and ¢xp¢nditiwe forth¢ year artse fn)m the charity's continuing operations. The notes on pages 9 to 17 form part of the8¢ filt9￿lA1 statwnents. THE HosprrAL OF WIiIJAM PARSON KNOWN LOCALLY AS STOKE HosprrAL P*g¢ 8 BALANCE SHEET AS AT 31 DECEMBER 2021 Not¢J 2021 2020 Tangible rtxed assets 46.754 46.754 Curr¢nt A*ets tnvestm¢nts Cash at bank and in hand 102,406 56.875 61.892 93.721 159,281 155.613 Credltorj Atnounts falling within one y¢ar N*t Current Auets 159.281 155.613 Total A$8¢ts leM Current LIAbilitieA 206.035 202.367 Total Net Asgets 206035 202J67 Tbe FuDd• of the CbaAty Endowment funds Restricted funds io 46.754 46,754 46,754 46.754 Unr¢stri¢t¢d fund5 Des1￿)ated fu￿￿¥ General Reserve 12 13 14 18.312 140.969 46,591 109.022 159.281 155.613 21)fj035 202J67 The notes i)n pages 9 to 17 forni part of these finall¢ial Stat￿ents. The finan¢ial *at¢ments on pges 7 to 17 were appmved by the Trust￿ Im 28 April 2022 and signed on their behaifby: Mrs S Ovlatt Chair of Trnstees Mr C Kirt Trnstee Pw9 KNOWN I￿￿ALLy AS STOKE HosprrAL NOTES TO THE FINANCIAL STATEMEF4TS FOR THE YEAR ENDED 31 DECEMBER 2021 I. ACCOiJNfiNG POIJCIES Bwil of Pr¢p4rntlon The accounts have be¢n pr¢pAY¢d on 4 receipts and ￿YmentS basis in ac¢ordan¢¢ with the Charities Act 2011. Th¢ financial statements have otherwise been pr¢par¢d in aecordance with Accounting and R¢porting by Charities.. Ststement of R¢￿mM¢nded Pra¢tice applicable to charities p￿paring their accounts in accordance with the FinAn¢ial Reportin8 StAndard applicable in tht UK And Republic of Ireland issued ill O¢iober 2019. th¢ Fin2ncial Rewrting Stsndard applicable in the Untted Kingdom and Republi¢ of Ffflattd (FRS102) Section IA and the Chariti¢$ Act 2011. The finan¢ial statements are preparoj in sterling which is th¢ functional currency and have iwi rounded to th¢ n¢arest pound. lll¢om¢ from Cbaritable Acdvlllej Ineome from charitable a¢tiviti¢s is accounted for in the period in which the charity ￿elVeS It. It represents maintenance contributions r¢¢¢iv¢d (inclusive of the R¢sidents' coijtributions towards the cost of services). including Housing Benefits. tDvatment In¢om¢ Bank intsr¢st 8nd dividends are a¢¢ounknl for in the period in which th¢ charity trceives them. Dotyailons Reeefved Donations r¢¢eiv¢d are shown within in¢om¢ and ar¢ accounted for in tho period in which th¢ ¢h4rity receives th¢m. Volunteeyj and Don*ted Se The charity is gratrful for the seTvices of its truste¢8 and other volunteers. How¢ver, no value 18 in¢lud¢d in the accounts for the hours of unpaid work that th¢y undertake. Any sorvi¢¢s that are donat¢d to the charity are in¢lud¢d as donated incom¢ and 0$ an expense wher¢ the value of Such services can b¢ m¢asured ￿lIablY and th¢ 8moullt involved is matsriai. pelldllure EXpe[￿lture is accounted for in the peri(Kl in which the charity m2k¢s the payment and includes iTrecoveJzble VAT. lttyeslments The investhients are stated at market value less any provision for pern￿￿t diminution in value. Market value is taken to be the quoted singl¢ fund price niling at th¢ balance sheet date. All dividends are r¢itivested in th¢ fund. All gains and losses on inveslments are includol in the Slxtement of Financial A¢tivities. Page 10 laYOWN LOCALLY AS STOKE HosprrAL NOTES TO THE FINANCIAL sTATEME￿s (continued) FOR THE YEAR ENDKD 31 DECEMBER 2021 I. ACCOUNTING POIJCIES (eoDtinued) Tallelbk Flxed AB6ets Tangible fixed assets are Stat￿ ￿ cost less capital grnnts. It is the Charity's policy to comply with the r¢qutrements of the Tenant's Guarantee and in so doin& io maintain its housing prop¢ty to a high standard through a ¢ontinuing programme of refurbishment and maint¢n4n¢e. these costs being written off when in¢urr¢d in the Ststement irf Fintineiai Activities. Con8¢quently the life of the propety and its residual valu¢ is such that any depwi&tion charge would not be material and th¢r¢for¢ no depreciation 15 provid¢d for in relation to housing property. The origlnal ¢ost of the origin￿ 1796 property is not known ond as such is not rccord¢d tn the accounts. Capi¢41 GrAnts Where developm¢nts have been financed wholly or partly by so¢iAI housing or other grnnts. tho ￿5t of th08¢ developments has been r￿u¢¢d by the amount of any related ￿ants received. In8ufAtt¢e Cl*lm8 lnsur4rt￿ ¢laims received in respect of expenditu￿ incurred are netted off against such expenditwe. Insurance cl&im r¢¢eipts covering10g8 of income Are shown s¢parately as income. Endowm*Mt Fund• Endowment fvnds repr¢s¢nt the value of the original buildings of Stoke Hospital and subsequent additions as reeo8nised ID the accounts. These ass¢ts cannot be r¢&lis¢d or charged and so are not available for expenditure. Income from eftdowment assets is unr¢$tricted in its use. Rejtrfeted Fund• These are gifts which have been given to the Charity to be used in accordance with the wishes of the donor. They may only be applied for th¢ purposes for which the funds w¢Ye donated. Unratrleted thDd• The use of these funds has not been re5tri¢knl to a particulor by donors. They ar¢ subdivided into th¢ General Fund and Designated Fund$. General Fund The Genernl Fund is the working fund of the Charity #nd is available for use ￿ th¢ disctrtion of th¢ Trustees in furtherniee of the Charity's objectives. Among the us¢s of the Genernl Fund are the PrO￿rty operating and maintenance ¢xpenditure and the general administration of the Charity, Desixnaiedfwids Designated funds are those funds which have b¢et) allocated by th¢ Tnts for particular puryos¢$. Further infoTmation on the nature and b&sis of the various desiwited funds US￿ by the Charity is given in Note 13. THE HOSPITAL OF WILLIAM PARSON KNOWN LOCALLY AS STOKE HOSPITAL Pwlj NOTES TO THE FINANCIAL STATEMENTS (¢0otlllued) FOR THE YEAR ENDED 31 DECEMBER 2021 2. LYCOME FROM CHARITABLE AcrJvrriES Y¢artnded 31112ni 2611112019 to 31112120 Maintenance contributions received 90936 22,031 The above represents the Charity's social housing income for the yegr. not of void$. The occupancy rate was 97.8Q/o (202¢> 97.8Vp). with void costs of £1.967 (2020 - £485) Included irt the a￿ve are servic¢ ¢harges of £10.940 (2020- £2,740). 3. EXPENDITURK Unrestrlcted Re•trlct¢d Endowment Futtds Totsl To¢*1 Year ended Year ¢ndtd Year ende41 Year ¢nded 2611J12019 to 31112ni 31112lll 31112121 31112nJ 311121211 ChArft*bl¢ expendllure Stoke Hospitsl property maintenart¢e costs Supp)rt costs Residents, amenities 84,379 16,805 84.379 17,533 687 15.463 4,208 542 728 687 101,184 .415 102.599 20,213 Governall¢¢ ¢0gts Legal fees Independeni Examiner's fee B&nk charges 35 2.940 35 2,940 96 3,071 3.071 15 104355 IAIS 10&670 20228 All expenditur¢ TelateS to social housing activities. 4. EMPLOYEES There w¢rn no employe¢s in the year (2020- nil). No Tn￿tee received any remuneration from the Charity during the year (2020- none). PAge 12 KNOWN LOCAILY AS STOKE HosprrAL NOTES TO THE FINANCIAL STATEMETr￿S {continued) FOR THE YEAR ENDED 31 DECEMBER 2021 5. REIMBURSEMENT OF EXPENSES TO TRUSTEES During the year were no payments made to th¢ Trnstees of the Charity in r¢spect of the reimbursement of ¢xpens¢s incurred by them on behalf of th¢ Charity (2020- £nil). & ACCOMMODATION IN MANAGEMENT 2021 2020 The number of units of acconunodatioll in m8nwent at 31 D¢cember was.. Number of bed spA 14 14 7. FIXED ASSETS 2021 2020 Freehold L••d and Buildltt8J Original 1796 Stoke Hospital building (historical cost not knowft) Additions and Improvements at W8t 1970 1980 1996 1997 - 1998 28.726 10,279 56,263 22.480 1,538 28,n6 10,279 .56,2A3 22.480 1,538 119286 119,286 Ixss.. Capital grants received GuAldford Borough Cowicil Grnnt 1978n9 Social Housin8 Grant 1997198 Donation from Guildford Poyle Charity 1980 Surrey County Council Grant Guildford Borough Council Grant 9.068 60,528 1,316 1.000 620 9.068 60,528 1,316 1,000 620 72.532 72.532 Totsi Freehold [￿d and Buildin8$ 46,754 46,754 The freehold land ond buildings w¢r¢ transferred from The Hospitsl of Wtlliatn Parson (Trust) orl I October 2020. The Social Housing Grant of £60.528 ts tthnttally repayable to Homes Ellglat￿ in the event that the ¢harity'$ property, which was the putpose of the 18 sold or otherwis¢ disposed of. Psge 13 KNOWN LOCALLY AS STOKE HosP￿AL NOTES TO THK FINANCIAL STATEMENfs {eoDtittued) FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 M&G Charlty Fund Value as at l January 2021 Transfer from Th¢ Hospital of William Parson (Trust) Additions Divid¢nds reinv¢sted lievaiued in Year 61.892 50,671 5.000 710 5.511 30.000 2.712 7.802 Value as at 31 D￿eMber 2021 102A06 61,892 Historical cost 56,992 26.992 The Charity's inv¢stments were transfor￿1 from The Hospital of William Parson (rn￿t) on i October 2020. 9. ANALYSIS OF NET ASSETS BETWEET4 FUNDS Fhed Amets ltsvM¢ments A¢ 31 Deeember 2021 Cash Totsl Unrestricted Funds Restri¢ted funds Endowmcnt fund 102.406 56.875 159.281 46.754 46.754 4&754 102A06 56075 206035 At 31 Deeembor 2020 Fkned Agjets Inv*B¢ments C*•h Total UnT¢stricted Funds Restricted ￿ndS EndowmeTht fund 61.892 93,721 155.613 46.754 46.754 4&754 61￿2 93,721 202067 P4ge 14 KNOWN LOCALLY AS STOKE llosP￿AL NOTES TO THE FINANCIAL STATEMENTS (eolllfinued) FOR THE YEAR EfffjED 31 DECEMBER 2021 10. ENDow￿NT FUNDS 2021 2020 Balan¢¢ at l January 2021 Transf¢r from The Hospitsl of William Parson (Trust) 46,754 46,754 Balance at 31 December 2021 4&754 46,754 Endowment funds reprewt the value of the original buildings of Stoke Ho8pitAI and subyequent additions as re¢ogni$ed in the aC￿unts. These assets winot be realised or charged and so are not ovailable for expenditurn. Income from endowment assets is unrestricted in its use. 11. RESTIUCTED FUNDS Amenlil¢A Fund 2021 2020 Balance at l January 2021 Transfer from The Hospital of William Parson (Trust) Donations received Expenditure in Year Transfer from Genernl ReseTve 136 240 (542) 166 130 (687) 557 Balance at 31 December 2021 The Am¢nities Fund represents donations received that weye given for the ditrct benefit the residents of Stoke Hospiial l¢ss amounls thus spent. There We￿ no un5p¢nt restrided funds ai the end of th¢ Year. 2021 2020 Computer Fmnd Balanc£ at l January 2021 Donations received Expendlture in Year Transfer from General Res¢rYe 700 (728) 28 Ba]an¢e At 31 December 2021 The Computer Fund represents a donatton receiv¢d that was given for thc pu￿h￿se of a lairtop comput for the charity l¢ss the amount spent on th&t laptop. Restricted fi￿dS rep￿sent those funds ￿eTVed fora specific puT￿se. Th¢8e reserves c#n only be us¢d for the purEM)se for which they were given. There were no unspent r¢stricted fund5 at the end of the year. THE HOSPITAL OF WILLIAM PARSON KNOWP4 LOCALLY AS STOKE HosprrAL Pye IS NOTES TO THE FINANCIAL STATEMENTS (conlinu¢d) FOR THE YIAR ENDED 31 DECEMBER 2021 12. UNRESTIucfED VUNDS 21121 21120 B841ance 4t l J￿uary 2021 Transf¢r from The H05Pit41 of William Parson (frnst) Net income for the Year Transfcr to re8trieted reserv¢ 155.613 147208 8.571 {166) 4,253 (585) Balan¢e at 31 Decemb¢r 2021 159281 155ffi13 All0¢4tlon of Unre8trf¢ted FuDds 2021 2020 DeslRn￿ed FMRdf.' Extraordinary Repir Fund Cyclical Repair Fund ChApel Improvcm¢nt Fund 6.699 11.520 93 22,798 20,007 3.786 18,312 140,969 46.591 109,022 Gehernl Reserve Balance at 31 December 2021 159281 155ffj13 Th¢ general resthve was bxnsfenrd from the 0ri8inal Tntht on l Octob¢r 2020. Unrestri¢ted funds represent the 'free res¢rves' of the charity th￿ can be used in ￿¢ordance with th¢ charitlble objects at th¢ discretion of the trustees. Th¢ trustees hav¢ chosen to dL5i8nate certain aTnounts for specific purposes in order to provide for ¢¢rtain types of future expenditur¢. These are shown as designated with fvrth¢r detail given in Notc 13 below. THE HosprfAL OF WILLIAM PARSON KNOWN LOCALLY AS STOKE HosP￿AL Page 16 NOTES TO THE WIF4ANCIAL sTATEME￿s {continued) FOR THE PERIOD ENDED 31 DECEMBER 2021 13. DESIGNATED FUNI)S xtra- Ch*pel ordinary Cy¢llal Imprnv¢- Rep4lr Repair ment Fund Futtd FuDd DesigllAted funds for the year ended 31 l>ecember 2021 Balances at l January 2021 Allocation from Genernl Reserve Expenditure 22,798 20,007 8,000 18.000 (24.099) (26.487) 3,786 46.591 1.000 27.000 (4.693) (55,279) Balanc¢s at 31 December 2021 6,099 11,520 93 18J12 Ext Chapel orrtin4ry Cy¢lk41 Improve- Replr RepAlr Fund Desi%n8ted funds for th¢ period ttyd¢d' 31 D￿eMber 2020 Futtd Tot*1 Balances at 26 Novembw 2019 Trnnsfer from'l'he Hosptstal of Willt8m Par￿n (Trust) 22.561 Allocation from G¢n¢rnl Reserv¢ Expenditure (1.763) 20.396 5,000 (5.389) 3,786 46,743 7,000 (7.152) B41aneLs at 31 December 2020 22.798 20.1)07 3,786 46,591 Th¢ moveThents in des1￿18t¢d fiinds rcpresenl 8 net transfer to general reserves of £16,099 (2030- £237 from gen¢r&l reserves) in respe¢t ()f the Extraordinary Repair Fund. a nel traiisf¢r to genern] reserves of £8,487 (2020- £389) in resp¢ct of the Cyclical Repair Fund and a net tTansf¢r to 8en¢rnl reserve$ £3.693 (2020 - £nil) in reS￿t of the Chapel Improvemeni fund. The purposes of the des1￿)ated funds are as folloMI'. Extraordlniry Repalr Fund The Charity sets aside 8 fund for fvthre major repairs ¢xpendifvre on its property in8ofar a8 su¢h expendi￿re is Thot eligible for grants from Homes England or local authorities. In setting th¢ 8mount allocated to the Extraordinary Repair Fund the Trustees wisider th¢ guidan¢¢ on this issued by The Almshouse Association. Cyclical Repair Fwid A designat¢d reserve h&% been establish￿ for the anti¢tpated costs involved in the firture cyclicttl repairs and ￿￿]ntenanCe Such as extsrn&l rede¢orntion and maintenance. En 8¢tting the Jmount allocated to the Cyclical Repair Fund th¢ Trustees ¢onsiderth¢ 8uidan¢¢ on this issu￿ by Th¢ Almshouse A&s(Ki4tion. chapelIMproveme￿ Fmnd A designated reserve has been established for the improvement of the r¢sid¢nts' common room at Stoke Hospital (known &$ 'The Chapel,). The Tru5t¢¢s established the initial amount of the Chapel Improvement Fund (£3.786) from the pro￿edS of sale ID 2019 of an investsnent previously I￿21ed 8$ an endowmenL Page 17 KNOWN IAKALLY AS STOKE HosP￿AL NOTES TO THE FINANCIAL STATEMENTS (CODtiDued) FOR THE PEIUOD ENDED 31 DECEMBER 2021 I& GENERAL RESERVE 2021 2020 Balance at l January 2021 Transfer from Th¢ Hospital of William Parson (frust) Net Income for the period Net transfers from desi8nated reserves Transfer to restricted reserve 109,022 100.465 8,571 152 (166) 4.253 28,279 (585) Balance at 31 December 2021 140.969 109,022 Th¢ 8eneral Teserve was tr￿$f¢r￿d from the original Trust on l O¢tob¢r 2020. 15. VALUE FOR MONEY The seven value-for-mon¢y ￿fOrn￿1¢C metrics for th¢ charkty as required by the Regulator of Social Housing Are as follows: 2021 2020 Reinvestment New supply delivered Nilyo Nilts/o Nilyo Nilyo Social units - Non-So¢ial units Gearing. Earnings b¢fore interesl tsx. depre¢iation and amortisation inter¢# cover Headline social housing cost per unit - absolute - annu&lised•* - Social Housing Lettingy Overall absolute - annualised•• NilV• Nl £7,548 £7,548 Nla £1.445 £5,780 13Vo 13Y Operating mgrgin -5% -2Vo -2Yo Return on capitsl employed 6Yo Th¢ charity has no borrowin8s and pays no int¢r¢st. ** For the period ¢nding 31 December 2020 the accounts included operations for the three months from I October 2020 only. In order to provKd¢ & more inforn]ative ¢omparative figure. th¢ ftbsolute metric has b*1 Multipli￿ by 1213 to represent an indicative full year's figure. The Tn￿ do not believe that th¢re any atc&s of undert*rforniance. 16. RELATED PARTY TRAIYSACTIONS On i October 2020 the assets and liabilities of the Hospital of William Parson, Charitsble number 200285. were tr8nsfeTred to th¢ new charitable incorwrat¢d Organisatio￿ also Call￿ The Hospital of William Parso Charity Number 1186592.