Farley Hospital (A Charitable Incorporated Organisation) Report of the Trustees and Financial Statements for the Year Ended 31 March 2022 Charity No: 1187181
Farfey Hoswtsl IA Charitable Incorporated Organisation) Index to the Financial Statements Forthe Year Ended 31 March 2022 Contents Page Legal and Administrative Details Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes forming part of the Financial Statements
Farley Hospttsl Legal and Admlnlstrative Details For the Year Ended 31 March 2022 STATUS The charity is a Charitable Incorporated Organisation re8lStered wtth Charity Commission for England Wales under its Governing Document. TRUSTEES OF THE CHARITY Carl Lycett Rebecca Baxter Adam Feest Rachel Funnell David Key Joanna Parsons Nicholas Philipp5 Jason Reeve Lucy Rickman Jonathan Whelan Charles Wilkinson resigned 8 December 2021 - resigned 21 October 2021 - resigned 8 December 2021 REGISTERED CHARITY NUMBER: 1187181 OPERATIONAL ADDRESS AND REGISTERED OFFICE Farley Hospital Church Road Farley Salisbury SP5 IAH INDEPENDENT EXAMINER N D Jones Fawcetts LLP Windover House St Ann Street Page I
Farley Hospitsl Report of the Trustees Forthe Year Ended 31 March 2022 The Trustees present their report together with the financial statement5 for the year ended 31 March 2022. STRucfuRE. GOVERNANCE AND MANAGEMEKt Constitution The charity is a Charitable Incorporated Organisation and registered with the Charity Commission. It was established on 2 January 2020 under its governing document. The Appointment of Trustees The Trustees are as shown on page l. Exisiting trustees undertake a sdection process to ensure the broad mix of skills provided by the trustees is maintained. OBJEcfivES AND AcrivmES The object of the charity is for the public benefft- the prowsion and maintenance of almshouse accommodation in the property known as Farley Hospital in the parish of Pitton and Farley, Wiltshire for poor persons of good chararter who (except in special cases to be approved by the chartty commission) reside within a radius of 15 miles from the buildings of the charity at the time of appointment with a preference for persons resident In the area comprising the parish of Pttton and Fadey. the parish of Grimstead and the lordship of Maddington. Risk The charity regularly reviews and assesses the risks it faces in all areas of its work and plans for the management of those risks. Publlc benefit When planning thelr charity's activities. the charity trustees have regarded the Charity Commission's guidance on public benefrt. ACHIEVEMENTS AND PERFORMANCE Further to last yearfs restoration of basic maintenance and a concentration on heating upgrade for all residents, this yearfs building management focused on a wider ranEe of improvements to the alm5house5 bringing them much closer to a good state of repair. Work in our cottages included windows. hot water tanks. doors, walls, and ceilings. There is still a lot of work to do. but the quality of life of our residents has improved again. Cottage number 8 was successfully occupied after refurbishment and so we have maintained full occupancy of the cottages and have a waiting list. We have also continued the previously planned changes to align maintenance contributions. In the wardenry redecoration has continued. The formal gardens were bought back to their former glory and the lawn was levelled and re-seeded. The wardenry also saw tts first proper use as an income generator and community space as we hosted our first private rental for a family event and held a St. Patrick's Day party for the village. We have gone digital for all our charty files and communications. have created a website to advertise the charity and events. as well as provide updates and nev to the community. Page 2
Farley Hi>spital Report of the TStee$ For the Year Ended 31 March 2022 ACHIEVEMENTS AND PERFORMANCE continued Fundraising got a huge b005t this year as we held our first live music event in the field next to the Church. The Queen arid ABBA party was a financial SuSS for the chartty. as well as brining local people together. made more important as it was the first summer, we have been able to host large events since COVID changed so much for everyone. The charity has a Great Book that holds the handwritten annual accounts for most years since our creation in 1682. The book has been stored at the Wardenry for all that time. This year we accessioned the Great Book and other important charity documents into Wiltshire Archive's environmentally controlled storage. The charity retains ownership of our historic documents and will continue the tradition of writing it in the book, but we can be sure that they are being stored in the best possible conditions now. The book was also professiorTrally scanned. There have been some changes to Try)ard membership this year. Towards the end of the year 3 board members stepped down, all for positive reasons, with one becoming an advisor to the board. Jason Reeve stepped down from the Chairperson position in December 2021 to become a valued trustee. The board voted Carl Lycett into the Chairperson role, and David Key took up the post of Clerk. FINANCIAL REVIEW The charity's total incoming resources for the year amounted to £54.661. The total expended resources during the year was £39.548. The year also saw the investments make an unrealised gain of £5,375. The final result was a surplus of £20,488. Reser4es Poliry The charity has reserves split between two funds. The General Fund lunrestrictedl can be used in accordance with the chartable objectives at the diSCtion of the trustees and finances the day-to-day running costs. The Extraordinary Repair Fund Irestrictedl can only be used for the extraordinary repair or improvement or rebuilding of the property belonging to the charity. RESPONSIBILITIES OF THE TRUSTEES Law applicable to charitie5 in Engfand and Wale5 require5 the Tru5tee5 to prepare financial statements for each rinancial year which give a true and fair view of the Charivs financial artivities during the period and of its financial position at the end of the period. In preparing those financial statements- the Trustees are required to select suitsble accounting policies and then apply them consistently,- make judgements and estimates that are reasonable and pwdent- State whether applicable accounting Standards and ststements of recommended practice have been followed 5ubjett to any departures disclosed and explained in the financial statements: and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. Page 3
Farley Hospitsl For the Year Ended 31 March 2022 RESPONSIBILITIES OF THE TRusfEES continued The Trustees are responsible for keeping proper accounting records which disclose with reasonable accurary at any time the financial posttion of the Charity and to enable them to ensure that the financial statements comply with applicable law and regulations. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detertion ot fraud and other irregularities. Approved by the Trustees on .-..-.. Signed on tts behalf by.= C Lycett Chair of Trustees Page 4
Independent Examinerfs Report to the Trustees of Farfey Hospital Forthe Year Ended 31 March 2022 I report on the accounts of the charity for the year ended 31 March 2022 which are set out on pages 6 to 10. Responsibilities and basis of report A5 the charivs trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the ACVI. I report in respect of my examination of the charitys accounts carried out under sertion 145 of the Art and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent exam¥ne¢s ststement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: l.accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2.the accounts do not accord with those recordsl- or 3.the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities IAccovnts and Reports) Regulations 2(K18 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered a5 part of an independent examinationl I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper under5tsnding of the accounts to be reached. lones Fawcetts LLP Windover House St Ann Street Salisbury SPI 2DR Dated.. 30 January. 2023 Page 5
Farfey Hospital Statement of Financial Activitie5 For the Year Ended 31 March 2022 Year to 31.3.22 Period to 31.3.21 Unrestricted Restricted Note INCOMING RESOURCES Incoming resource5 from generated funds: Voluntary income Donations Transfer of assets from Farley Hospital Ireg'd no. 2 15.952 15.952 305 125,855 15.952 15,952 126,160 Activities for generating funds Residents, contributions Charitable activities 35.900 35,900 27,501 Investment income 2.066 743 2,986 TOTAL INCOMING RESOURCES 53.918 743 54,661 156,647 RESOURCES EXPENDED Raising funds Cost of charitable artivitie5 7,757 7.757 31.791 31.791 53,008 Governance costs 3,986 TOTAL RESOURCES EXPENDED 39,548 39,548 56,994 Net Incoming Resources 14.370 743 15,113 99,653 Unrealised gain on investments 2,922 2,453 5,375 11,878 Net Incoming Resources before other recognised gains and105se5 17,292 3,196 20.488 111.531 Net movement in funds for the year 17.292 3.196 20.488 111,531 Total funds at l April 2021 76.063 35.468 111.531 Total funds at 31 March 2022 93,355 38,664 132,019 111,531 There were no recognised gains and losses other than those shown in the above Statement of Financial Activities. Page 6
Farley Hospital {ChaTity number. 11871811 Balance sheet As at 31 Marth 202Z 2022 2021 Tangible fixed assets Heritage assets Investments 74.(M)I 68,626 74,(K12 68.627 Current assets Debtors Cash at bank & in hand io 66,017 43,804 66,017 43,804 Creditor5: amounts falling due within one year li 18,Cml 19LM)I Net current assets 58,017 42,904 Net asset5 132,019 111,S31 The Funds of the Charlty Unrestrirted Funds: General Fund 12 93.355 76,063 Restrfrted Funds 12 38.664 35,468 Total Fund5 132.019 111,531 211,,/ The financial statements were approved by the Trustees on ......... ...... 2£)LS ..and 5igr7ed on their behalf by: C Lycett Chair of Trustees Page 7
Farfey Hospital Notes to the Financial Statements For the Year Ended 31 Mafch 2022 l. Accountlng pollcies lal The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFR51021 {effective l January 20191 and in accordance with the Charities Act 2011. Farley Hospital meets the definFtion of a public benefit entity under FRS 102. Assets and liabilities are initial retognised at historical cost or transaction value unless other4¥ise stated in the relevant accounting polic¥ notelsl. Ibl Incomin8 resour$ are included in the ststement of financial affairs when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. Icl Incorning resources from grants are recognised in line with predetermined schedules of expenditure. Idl Resources expended are recognised in the period in which they ale incurred. Resources expended include attributable VAT which cannot be recovered. Donations are made only when they meet the objects of the charity. Support costs are deemed to be attributsble to Charitable Expenditure onlv. lel Fund accounting Funds held by the charity are- Unrestrirtedfunds- These are funds which can be used in accordance with the charitsble objects at the discretion of the trustees. Restrictedfunds- These are funds to be used for specific purposes at the request of the donor. lfj Investment gains and losses These include realised or unrealised gains or losses on the Sale of investments and any gain or loss resulting from the revlauing investments to market value at the end of the financial period. Igl Flxed asset investments Investments are included at dosing mid-market value at the balance sheet date. Any gain or loss on revaluation is tsken to the statement of financial activities. Investment income is accounted for on an accrual'5 basis. 2. Net outgoing resources for the period Yearto 31.3.22 Period to 31.3.21 This is stated after charging- Accountancy fee Depreciation Trustees did not receive any remuneration. benefits in kind nor expenses for 2022 or 2021. Page 8
Farley Hosimtal Notes to the Hnanclal St*ements For the Year Ended 31 Mar¢h 2022 3. Investment income Year to 31.3.22 Period to 31.3.21 Unrestricted Restrirted Dividend5 Interest receivable 743 743 2.066 2,809 448 2,538 2,986 2,066 2,066 743 4. Analysis of total resources expended Support costs Year to 31.3.22 Period to 31.3.21 Almshouses Charltable actmtles Direct costs 31,791 31.791 53,008 Govemante costs 3,986 Other costs 31,791 31.791 56.994 5. Charitable artiwities expenditu Year to 31.3.22 Period to 31.3.21 Unrestricted Restricted Recurring repairs to almshouses Major works to almshouses Water rates Gardener, arboricultural contractor etc Insurance- property and trustees indemnity Almshouses Association subscription Stationery and offite costs Sundry expenses Bank charges Light and heat Council tax Salaries 18.254 18,254 4,112 32,738 2,118 2,886 2,311 179 86 332 69 2,456 5,006 715 1.193 90 2.030 369 778 434 96 549 3.347 4.651 1,193 90 2.030 369 778 434 96 549 3,347 4,651 31,791 31.791 53,008 6. Governance costs Year to 31.3.22 Period to 31.3.21 Unrestricted Restrirted Legal and professional costs Independent examiner fees 3,986 3,986 Page 9
Farley Hospital Notes to the Flnancial Statements For the Year Ended 31 March 2022 7. Taxation The charity is exempt from tax on its charitsble artivities per sectlons 521 to 536 of ITA 2C(17. Because of Its Current activities Farley Hospital is not ieglstered tor VAT and therefore cannot recover VAT on its expenses. Heritage a55ets Farley Hospital was built in 1681 and consists of six single almshouses. two larger alTnshouses and a central wardenry. It is stated at a nominal value of £1, although for insurance purposes it is valLted at £2.4m; consequently no depreciation is provided. 9. Investments General fund Extraordinary repalr fund Totsl Market value: At 31 March 2021 Additions- annual investments purchased Disposals Unrealised gains 35.868 32,758 68,626 2,922 2,453 5.375 At 31 March 2022 38,790 35,211 74,001 10. Debtors Unrestricted Restricted 31.3.22 31.3.21 Residents contributions Prepayments 11. Creditors: amounts falllng due wlthin one year Unrestricted Restricted 31.3.22 31.3.21 Other creditors Accruals and deferred rental income 8.000 8.000 900 900 12. Analysls of net assets between funds Net current assets Fixed assets Total Restritted funds Unrestricted funds Net assets at the end of the year 68.626 68,626 42,905 111,531 42,904 42,904 68.627 Page 10