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|CONTENTS||PAGE|
|---|---|---|
|Legal and Administrative|Information||
|Report ofthe Trustees||2 —5|
|Independent
Examiner's|Report||
|Statement ofFinancial Activities|||
|Balance Sheet|||
|Notes forming part ofthe|Financial Statements|9 —17|
|Value for Money Statement||17|
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|Trustees||Mrs SOviatt Ham (Chair)|||
|---|---|---|---|---|
|||Mr C Kirton (Vice Chair to November|2023 and|Treasurer)|
|||Mr D Clarke|||
|||Mrs SGodfrey (Joint Vice Chair from|November 2023)||
|||Mrs LGreen (Joint Vice Chair from November||2023)|
|||Mrs S Harris (Resigned 19May 2023)|||
|||Mr SLoveless|||
|Clerk to Trustees:||Mr Benjamin Janes|||
|Assistant Clerks:||Ms Claire Myers, Ms JLawrence|||
|Principal office.||Stoke Hospital Office|||
|||92Stoke Road|||
|||Guildford|||
|||Surrey GU1 4JH|||
|Administrators.||The Trust Partnership|||
|||6 Trull Farm Buildings|||
|||Tetbury|||
|||Gloucestershire
GL8 8SQ|||
|Bankers:||CAF Bank Ltd|||
|||25 Kings Hill Avenue|||
|||Kings Hill|||
|||West Mailing|||
|||Kent ME19 4JQ|||
|Independent|Examiner:|Mr RM Dunnett|||
|||20 Strathavon
Close|||
|||Cranleigh|||
|||Surrey GU6 8PW|||
|Investment|Provider:|M&G Investments|||
|||P0Box9038|||
|||Chelmsford
CM99 2XG|||
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|FOR THK Y|EAR ENDE|D 31D|ECEMB|ER 2023|||||
|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Endowment|||
|||||Funds|Funds|Funds|Total|Total|
|||||2023|2023|2023|2023|2022|
||||Notes||f.||||
|Income and Endowments||from:|||||||
|Donations||||150|||808|365|
|Charitable
activities|||2|99,037|||99,037|90,654|
|Investments||||5,366|||5,366|3,979|
|Other||||||||974|
|Total||||104,553|658||105,211|95,972|
|Expenditure|on:||||||||
|Charitable
activities|||3|78,695|560||79,255|81,589|
|Governance|||3|670|||670|1,291|
|Total||||79,365|560||79,925|82,880|
|Net Operating|Income|||25,188||||13,092|
|Net gains/(losses)
on investments||||2,224|||2,224|(2,998)|
|Net Income for the year||||27,412|98||27,510|10,094|
|Transfer between
funds|||||(98)||||
|Net movement|in funds|||27,510|||27,510|10,094|
|Fund balances|at 1 January|2023||169,375||46,754|216,129|206,035|
|Fund balances at 31December|||2023|196,885||46,754|243,639|216,129|
|||Notes|2023|2022|
|---|---|---|---|---|
|Fixed Assets|||||
|Tangible fixed assets|||46,754|46,754|
|Current
Assets|||||
|Investments|||109,623|103,215|
|Cash at bank and in hand|||87,262|66,160|
||||196,885|169,375|
|Creditors|||||
|Amounts
falling within one year|||||
|Net Current
Assets|||196,885|169,375|
|Total Assets less Current Liabilities|||243,639|216,129|
|Total Net Assets|||243,639|216,129|
|The Funds ofthe|Charity||||
|Endowment
funds||10|46,754|46,754|
|Restricted
funds||11|||
||||46,754|46,754|
|Unrestricted
funds
Designated
funds
General Reserve||12
13
14|33,014
163,871|28,483
140,892|
||||196,885|169,375|
||||243,639|216,129|
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||||||Unrestricted|Restricted|Endowment|||
|---|---|---|---|---|---|---|---|---|---|
||||||Funds|Funds|Funds|Total|Total|
||||||2023|2023|2023|2023|2022|
|Charitable||expenditure||||||||
|Stoke Hospital property|||maintenance|costs|54,723|||54,723|61,378|
|Support costs|||||23,972|||23,972|19,574|
|Residents'|amenities|||||560||560|637|
||||||78,695|560||79,255|81,589|
|Governance||costs||||||||
|Professional||fees|||335|||335|960|
|Independent||Examiner's|fee||275|||275|250|
|Bank charges|||||60|||60|81|
||||||670|||670|1,291|
||||||79/65|560||79,925|82,880|
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|6. ACCOMMODATION
IN MANAGEMENT|6. ACCOMMODATION
IN MANAGEMENT|2023|2022|
|---|---|---|---|
|The number ofunits ofaccommodation|in management|||
|at31 December was:||||
||||14|
|Number of bed spaces||||
|7.FIXED ASSETS||2023|2022|
||||'K|
|Freehold Land and Buildings||||
|Original
1796Stoke Hospital
building|(historical cost not known)|||
|Additions
and Improvements
at cost
- 1970
- 1980
- 1996
- 1997
- 1998||28,726
10,279
56,263
22,480
1,538|28,726
10,279
56,263
22,480
1,538|
|||119,286|119,286|
|Less: Capital grants received||||
|Guildford Borough Council Grant 1978/79
Social Housing
Grant 1997/98
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|
|Total Freehold Land and Buildings||46,754|46,754|
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|||2023|2022|
|---|---|---|---|
|Mk GCharity Multi-asset Fund||||
|Value as|at 1 January 2023|103,215|102,406|
|Additions||||
|Dividends|reinvested|4,184|3,807|
|Revalued|in Year|2,224|(2,998)|
|Value as|at 31 December 2023|109,623|103,215|
|Historical|cost|56,992|56,992|
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|9.ANALYSIS OFNET ASSETS|9.ANALYSIS OFNET ASSETS|BETWEEN FUNDS||||
|---|---|---|---|---|---|
|At 31December 2023||Fixed Assets|Investments|Cash|Total|
|||K||||
|Unrestricted|Funds||109,623|87,262|196,885|
|Restricted funds||||||
|Endowment|fund|46,754|||46,754|
|||46,754|109,623|87,262|243,639|
|At 31December 2022||Fixed Assets|Investments|Cash|Total|
|Unrestricted|Funds||103,215|66,160|169,375|
|Restricted funds||||||
|Endowment|fund|46,754|||46,754|
|||46,754|103,215|66,160|216,129|
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|10.ENDOWMENT|FUNDS|||
|---|---|---|---|
|||2023|2022|
|Balance at 1 January|2023|46,754|46,754|
|Balance at 31December 2023||46,754|46,754|
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|11.REST|RICTED FUNDS|||
|---|---|---|---|
|Amenities|Fund|2023|2022|
|Balance at|1 January 2023|||
|Donations|received|658|140|
|Expenditure|in Year|(560)|(637)|
|Transfer (to)/from
General Reserve||(98)|497|
|Balance at|31December 2023|||
|12.UNRESTRICTED FUNDS|12.UNRESTRICTED FUNDS|||
|---|---|---|---|
|||2023|2022|
|Balance at 1 January 2023||169,375|159,281|
|Net income for the Year||27,412|10,591|
|Transfer tol(from) restricted|reserve|98|(497)|
|Balance at 31December 2023||196,885|169,375|
|Allocation ofUnrestricted|Funds|||
|||2023|2022|
|Designated Fands:||||
|Extraordinary
Repair Fund||11,993|6,607|
|Cyclical Repair Fund||21,021|20,269|
|Chapel Improvement
Fund|||1,607|
|||33,014|28,483|
|General Reserve||163,871|140,892|
|Balance at 31 December 2023||196,S85|169,375|
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|13.DESIG|NATED FUNDS|||||
|---|---|---|---|---|---|
|||Extra-||Chapel||
|Designated|funds for the year ended|ordinary|Cyclical|Improve-||
|31December 2023||Repair|Repair|ment||
|||Fund|Fund|Fund|Total|
|||||f.||
|Balances at 1 January 2023||6,607|20,269|1,607|28,483|
|Allocation|from General Reserve|8,596|14,055|7,287|29,938|
|Expenditure||(3,210)|(13,303)|(8,894)|(25,407)|
|Balances at 31December 2023||11,993|21,021||33,014|
|||Extra-||Chapel||
|Designated|funds for the year ended|ordinary|Cyclical|Improve-||
|31December 2022||Repair|Repair|ment||
|||Fund|Fund|Fund|Total|
|Balances at 1 January 2022||6,699|11,520|93|18,312|
|Allocation|from General Reserve|14,500|14,250|13,000|41,750|
|Expenditure||(14,592)|(5,501)|{11,486)|(31,579)|
|Balances at 31 December 2021||6,607|20,269|1,607|28,483|
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|14.GENERAL RESERV|E|||
|---|---|---|---|
|||2023|2022|
|Balance at 1 January 2023||140,892|140,969|
|Net Income for the year||27,412|10,591|
|Net transfers to designated|reserves|(4,531)|(10,171)|
|Transfer to/(from)
restricted|reserve|98|(497)|
|Balance at 31December 2023||163,871|140,892|
##
||||||2023|2022|
|---|---|---|---|---|---|---|
|Reinvestment|||||Nil%|Nil%|
|New supply delivered||- Social units|||Nil%|Nil%|
|||-Non-Social|units||Nil%|Nil%|
|Gearing~|||||Nil%|Nil%|
|Earnings|before interest, tax, depreciation||and amortisation|interest cover*|N/a|N/a|
|Headline|social housing cost per unit||||K5,709|X5,920|
|Operating|margin|- Social Housing Lettings|||26%|14%|
|||- Overall|||26%|14%|
|Return on capital employed|||||11%|6%|
##
|
FOR THK YEAR ENDED|31DECEMBER 2023|||
|---|---|---|---|
|||2023|2022|
|INCOME||||
|Contributions
by Residents (net ofvoids)
Investment
and other income||84,090
5,366|79,182
4,953|
|Grants and donations||808|365|
|Total Charitable
Income||90,264|84,500|
|EXPENDITURE||||
|Charitable
Activities||||
|Electricity and gas
Water rates||10,654
2,112|8,446
1,435|
|TV Licences||227|219|
|Less: Residents
contributions||(14,947)|(11,472)|
|Net utility costs/(credit)||(1,954)|(1,372)|
|Extraordinary
repairs
Cyclical maintenance
General repairs and maintenance
Emergency
communication
system
Gardening
services
Cleaning
Window cleaning
Residents'
amenities||12,104
13,303
8,215
2,161
1,902
1,456
246
560|26,079
5,502
10,128
2,530
3,312
1,545
180
637|
|Clerk's fees and disbursements|||9,355|
|The Trust Partnership
Fees||20,997|7,400|
|Assistant
clerk|||865|
|Insurance||2,343|2,002|
|Telephone
Subscriptions
Printing
and office expenses
Sundry expenses||458
1,191
127
1,199|410
858
208
478|
|Governance||||
|Professional
fees||335|960|
|Independent
Examiner's
fee
Bank charges||275
60|250
81|
|Total Expenditure||64,978|71,408|
|SURPLUS/DEFICIT FORTHE YEAR||25/86|13,092|