2025-03-31-accounts

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Charity number: 1191966

THE BURNHAMS SURGERY COMMUNITY HEALTHCARE TRUST

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

	Page
Reference and Administrative Details of the Charity, its Trustees and Advisers	1
Chairman's Statement	2 - 4
Trustees' Report	5 - 8
Independent Examiner's Report	9
Statement of Financial Activities	10
Balance Sheet	11
Notes to the Financial Statements	12 - 21

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees	Michael JeffreyWalsh,Chair
	Robert Albert Greatorex
	Robert Malcolm Bailey
	Valerie EmilyMcGouran(appointed 16 April 2025)
	LesleyJoan Nadel(appointed 16 April 2025)

Charity registered number	1191966

Principal office	C/O The Burnhams Surgery 1 Creake Road Burnham Market Kings Lynn PE31 8EN

Accountants	Larking Gowen LLP Chartered Accountants 1st Floor, Prospect House Rouen Road Norwich NR1 1RE

Bankers	NatWest 4 Tuesday Market Place King's Lynn Norfolk PE30 1YY

Solicitors	Leathes Prior 74 The Close Norwich Norfolk NR1 4DR

The chairman presents his statement for the year.

This is the fourth annual report of the Trustees of the Burnhams Surgery Community Healthcare Trust (BSCHT) since it was registered as a Charitable Incorporated Organisation in 2020.

BSCHT’s primary activities over the year have focussed on:

Addressing matters related to the acquisition of the new surgery building, including those raised by our tenants, the GPs and their Practice Staff,
Monitoring the resolution of issues related to the final handover of the building by the developers (MedCentres PLC) to the satisfaction of the GPs, prior to release of retention monies. These were resolved in October 2025 and the final contract retention paid.
Steering the Trust through a period of economic instability. The rental income from the GPs was fixed until the end of March 2025, and is currently under review for the subsequent three years. Consequently, with the Trust’s major expense being the interest cost on the Charity Bank loans, the increases in interest rates have led to a steadily reducing cash surplus and the need to control any discretionary expenditure very carefully.

The option we took in November 2022 to switch part of our borrowings onto a fixed interest rate has proved to be the right decision in providing a degree of certainty at a time of rising interest rates. With current indications that interest rates are reducing, albeit slowly, the Trustees will keep the fixed rate, which runs until November 2027, under careful review. This has also meant that we are starting to see a very modest increase in our cash surplus

One of our founding legators, Betty Kathleen Sargent, requested in her will that her bequest be utilised towards setting up a facility to support people living with dementia. To that end, during the past year, we have used some of the modest cash surplus to fund the initial set up costs of Betty’s Club, which is an integral part of BSCHT and not a separate legal entity.

We have been fortunate to be able to secure the services of Sarah Reed, a very experienced qualified dementia practitioner, to take this project forward. The Club is evolving around the needs of its members but will eventually be offering counselling and other activities for both those with dementia and their families and other carers. Finding new members has not been easy. The stigma associated with dementia and patient confidentiality are key considerations, so we are very much relying on personal contacts to spread the word. The initial feedback has been very encouraging.

This new activity has, to date, been funded out of our small surplus, supplemented by some very generous local donations, particularly form Hunstanton Rotary (through their running of the Burnham Market Craft Fair) and Burnham Brecks camping. These are much appreciated.

Although the period again ends with a small cash surplus, our resources are very limited and expenditure needs to be tightly controlled. As activities expand we hope to attract further donations and legacies, both for Betty’s Club and to support the Practice, in addition to more regular fund-raising activities.

The Trustees regularly hold status meetings with the Practice to ensure that the building is not only fit for purpose but to consider any need for improvements in the working environment. These meetings are a

constant reminder to us of the pressures the doctors, their staff and the facilities are under. A Trustee also attends the Patients Participation Group meetings for the Practice from time to time. This includes representatives from the Practice, Queen Elizabeth Hospital (Kings Lynn), the voluntary drivers organisation (BMACCS) and, of course, the patients.

On a personal note, as Chair, I would like to thank my fellow Trustees for generously giving of their own time over this difficult period. The three original Trustees have now served in their roles for several years and have identified two new Trustees who will help to guide us as we move forward.

................................................ Mike Walsh Chairman Date:

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report together with the financial statements of the Charity for the period 1 April 2024 to 31 March 2025.

Objectives and activities

a. Policies and objectives

The Burnhams Surgery Community Healthcare Trust (BSCHT) is a Charitable Incorporated Organisation (CIO), the primary purpose of which, as set out in its Constitution, is to relieve sickness and promote and protect good health for the public benefit by the provision and maintenance of a building to be used as a medical centre. In addition, BSCHT will support the provision of such other associated facilities and services as the Trustees think fit, in particular to promote and protect physical and mental health through the introduction of a Dementia support facility for residents of the area local to Burnham Market.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Activities undertaken to achieve objectives

The main activities of BSCHT in the current period to 31 March 2025 have been related to the successful move of the Burnhams Surgery GP Practice into the new building at Creake Road, the purchase of which was completed by BSCHT in March 2022. BSCHT held a retention from the Developers (MedCentres PLC) which was released in October 2025 The Trustees, along with the GP Practice, have been carefully monitoring the new building for defects or other relevant matters, with advice from specialist surveyors.

The Trustees have also carefully monitored BSCHT’s cash position, particularly in light of the level of interest rates over the past year and the impact this has had on loan funding costs. A switch of a portion of the borrowings onto a fixed rate 5 year facility in 2022 has helped to mitigate this.

As set out in the Chairman’s introduction, above, one of BSCHT’s founding legators, Betty Kathleen Sargent, requested in her will that her bequest be utilised towards setting up a facility for the benefit of the community and to support people living with dementia. To that end, during the past year, we have used some of the modest cash surplus to fund the initial set up costs of Betty’s Club,which is an integral part of BSCHT and not a separate legal entity.

Financial review

a. Going concern

After making appropriate enquiries, in particular with regard to the level of interest rates on the loans, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The Trustees consider the financial position of BSCHT to be sound at the end of this reporting period. The cash balance remains positive at the year end. Unrestricted reserves total £16,697 (2024 £14,232), and endowment funds are held at £1,352,993 (2024: £1,380,656). The trustees have not set a reserves target.

Structure, governance and management

a. Constitution

The charity was incorporated as a CIO on 23 October 2020 and started operating on that date. It is registered with the Charity Commission (charity no. 1191966).

The Burnhams Surgery Community Healthcare Trust is a charity governed by a constitution, dated 23 October 2020, which established the objects and powers of the organisation and its trustees.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

c. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to identify, and where possible, mitigate exposure to the major risks.

Plans for future periods

Looking further forward, in addition to supporting the GPs’ practice, the Trustees want to move ahead with supporting the work to provide dementia services to the community as soon as practicable. This may continue to take a little time, given the impact on BSCHT’s cash resources of the continuing high interest rates, which feed through to the loan funding costs. The new building has space retained by BSCHT and not rented to the GPs; this space is now being used, inter alia, in support of the Betty’s Club dementia services.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently; observe the methods and principles of the Charities SORP (FRS 102); make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

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................................................ ................................................
Michael Jeffrey Walsh Robert Albert Greatorex
................................................
Robert Malcolm Bailey
Date:
Independent Examiner's Report to the Trustees of The Burnhams Surgery Community Healthcare
Trust ('the Charity')
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I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2025.

Responsibilities and Basis of Report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

Your attention is drawn to the fact that the Charity has prepared the accounts 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 (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1.	accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
2.	the accounts do not accord with those records; or

the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: Dated:

Giles Kerkham FCA DChA

Larking Gowen LLP Chartered Accountants Norwich

	Endowment funds 2025	Unrestricted funds 2025	Unrestricted funds 2025	Total funds 2025	Total funds 2025				Total funds 2024
Note	£		£	£					£

Income and endowments from:
Donations and legacies	3		-	4,350			4,350		-
Charitable activities	4		-	116,000			116,000		116,318
Investments	5		-	945			945		532
Total income and endowments			-	121,295			121,295		116,850
Expenditure on:
Charitable activities			27,663	118,832			146,495		137,545
Total expenditure			27,663	118,832			146,495		137,545

Net movement in funds		(	27,663)		2,463		(25,200)		(20,695)

Reconciliation of funds:
Total funds brought forward		1,380,656		14,232		1,394,888		1,415,583


Net movement
in funds	(27,663)	2,463	(25,200)	(20,695)
Total funds carried forward	1,352,993	16,695	1,369,688	1,394,888

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 12 to 21 form part of these financial statements.

			2025		2024
	Note		£		£
Fixed assets
Tangible assets	10		2,339,077		2,387,249
Current assets
Debtors	11	3,178		34,705
Cash at bank and in hand		91,045		63,279
		94,223		97,984
Creditors: amounts falling due within one year	12	(95,704)		(93,201)
Net current assets / (liabilities)			(1,481)		4,783
Total assets less current liabilities			2,337,596		2,392,032
Creditors: amounts falling due after more than oneyear	13		(967,908)		(997,144)
Total net assets			1,369,688		1,394,888

Charity funds
Endowment funds	14		1,352,993		1,380,656
Unrestricted funds	14		16,695		14,232
Total funds			1,369,688		1,394,888

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................ Michael Jeffrey Walsh

................................................ Robert Albert Greatorex

................................................ Robert Malcolm Bailey

Date:

The notes on pages 12 to 21 form part of these financial statements.

1. General information

The Burnhams Surgery Community Healthcare Trust is a CIO registered in England and Wales, registration number 1191966. The registered office is 1 Creake Road, Burnham Market, Kings Lynn, PE31 8EN.

2. Accounting policies

Basis of preparation of financial 2.1 statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The Burnhams Surgery Community Healthcare Trust meets the definition of a public benefit entity under FRS 102.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The trustees have assessed that the basis of going concern is appropriate in preparing these financial statements. The trustees make this assessment in respect of a period of at least 12 months from the date of approving the financial statements, taking into consideration future interest rates and borrowing costs. The trustees have concluded that the charity has adequate resources to continue in operational existence for the forseeable future and there are no material uncertainties about the charity's ability to continue as a going concern basis of accounting in preparing the financial statements.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

Tangible fixed assets and 2.6 depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost, including borrowing costs directly attributable to acquisition or construction. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

		Buildings	-	50 years straight line
		Long-term leasehold land	-	125 years straight line

Depreciation on property held in endowment will be charged directly to the fund.

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.10 Financial instruments

The Charity only has financial assets and financial 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.

2.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Endowment funds represent donations and legacies received which form part of the capital fund of the Charity. The endowment fund includes depreciation charges directly allocated to the property held in the fund.

Investment income, gains and losses are allocated to the appropriate fund.

Income from donations and legacies

Unrestricted funds 2025	Total funds 2025	Total funds 2024



	£	£	£

Donations	4,350	4,350	-

4.		Income from charitable activities	Income from charitable activities	Income from charitable activities	Income from charitable activities	Income from charitable activities	Income from charitable activities

					Unrestricted funds 2025			Total funds 2025		Total funds 2024
						£		£		£

		Rental income				116,000		116,000		116,318


5.		Investment income

					Unrestricted funds 2025			Total funds 2025		Total funds 2024
							£	£		£

		Bank interest					945	945		532


6.	Analysis of direct costs
									2025	2024
									£	£

	Consultancy			7,200						-
				7,200						-

7.	Analysis of support		costs
									2025	2024
									£	£

	Depreciation		48,172							48,172
	Audit and accountancy		5,875							4,423
	Insurance		3,207							3,032
	Miscellaneou s		2,766							324
	Bank interest payable		79,275							81,094
			139,295							137,045

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8. Independent examiner's remuneration
2025 2024
£ £
Fees payable to
the Charity's
independent
examiner for
the independent
examination of
the Charity's
annual
accounts 3,120 3,000
Fees payable to
the Charity's
independent
examiner in
respect of:
All other
services not
included above 2,755 973
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9.	Trustees' remuneration and expenses	Trustees' remuneration and expenses	Trustees' remuneration and expenses	Trustees' remuneration and expenses
	During the year, no Trustees received any remuneration or other benefits_(2024 - £NIL-)_.
	During the year ended 31 March 2025, no Trustee expenses have been reclaimed (2024 - £NIL), as trustees have borne their own individual administrative expenses associated with their role.
10.	Tangible fixed assets

		Buildings	Long-term leaseholdproperty	Total
		£	£	£
	Cost
	At 1 April 2024	2,358,593	125,000	2,483,593
	At 31 March 2025	2,358,593	125,000	2,483,593
	Depreciation
	At 1 April 2024	94,344	2,000	96,344
	Charge for theyear	47,172	1,000	48,172
	At 31 March 2025	141,516	3,000	144,516
	Net book value



At 31 March 2025	2,217,077	122,000	2,339,077

At 31 March 2024	2,264,249	123,000	2,387,249

11	Dbt
.	eors
			2025	2024

			£	£


	Due within oneyear

	Trade debtors		-	34,705

	Prepayments and
	accrued income		3,178	-

			3,178	34,705

12.	Creditors: Amounts falling due within one year
		2025		2024
		£		£

	Bank loans	28,911		26,714

	VATpayable	5,727		5,739
	Other creditors	31,000		31,052
	Accruals and deferred income	30,066		29,696
		95,704		93,201

Included within accruals and deferred income is rental income deferred of £26,696 (2024 - £26,696).

	Creditors: Amounts falling due after more	Creditors: Amounts falling due after more	than one year	than one year
			2025		2024
			£		£

	Bank loans		967,908		997,144

				2025	2024
				£	£

Between one and two years		31,290			28,911
Between two and five years		109,977			101,603


	Over five years			826,641											866,630

				967908											997144
				,											,



14.	Statement of	funds
	Statement of	funds		- current year
		Balance at 1 April 2024 £				Income £		Expenditure £			Transfers in/ out £		Balance at 31 March 2025 £
	Unrestricted funds
	Designated funds
	Betty's Club				-		4,350			(7,200)		2,850		-


	General funds
	General Funds				14,232	116,945			(111,632)		(	2,850)		16,695

	Total Unrestricted funds				14,232	121,295		(118,832)				-		16,695

	Endowment funds
	Endowment Fund		1,380,656			-			(27,663)			-		1,352,993


	Total of funds		1,394,888			121,295		(	146,495)			-		1,369,688

The Expendable Endowment fund consists of legacies received from two donors. These were given for the benefit of patients of the Burnham Market Surgery, and towards establishing a Dementia support facility for local residents. The fund is expendable as the Trustees have discretion to expend the fund in furtherance of the Charity's objects.

Statement of funds - prior year

	Balance at			Balance at
	1 April 2023	Income	Expenditure	31 March 2024
	£	£	£	£
Unrestricted
funds
General Funds	7,264	116,850	(109,882)	14,232

	Endowment funds
	Endowment Fund	1,408,319	-	(27,663)	1,380,656

	Total of funds	1,415,583		116,850	116,850			1,394,888

15.	Analysis of net assets between funds
	Analysis of net assets between funds -			current		year
		Endowment funds 2025			Unrestricted funds 2025			Total funds 2025
			£		£			£

	Tangible fixed assets		1,352,993		986,084			2,339,077
	Current assets		-		94,223			94,223
	Creditors due within one year		-		(95,704)			(95,704)
	Creditors due in more than one year		-		(967,908)			(967,908)
	Total		1,352,993				16,695	1,369,688

Analysis of net assets between funds - prior year

	Analysis of net assets between funds - prior year	Analysis of net assets between funds - prior year	Analysis of net assets between funds - prior year	Analysis of net assets between funds - prior year	Analysis of net assets between funds - prior year	Analysis of net assets between funds - prior year
		Endowment funds 2024		Unrestricted funds 2024		Total funds 2024
			£	£		£

	Tangible fixed assets		1,380,656	1,006,593		2,387,249
	Current assets		-	97,984		97,984
	Creditors due within one year		-	(93,201)		(93,201)
	Creditors due in more than one year		-	(997,144)		(997,144)
	Total		1,380,656		14,232	1,394,888
16.	Operating lease payments receivable
	At 31 March 2025 the Charity was due to receive future minimum lease under non-cancellable operating leases as follows					payments


	2025		2024
	£		£

Not later than 1 year	116,000		116,000
Later than 1 year and not later than 5
years	464,000		464,000

Later than 5years	1,392,000		1,508,000
	1,972,000		2,088,000

	Included	in the lease is a break clause whereby the
	tenant has the right to break the lease by giving 12 months' notice. However, to do so the tenant would have to demonstrate that they cease to be entitled to
	NHS funding, that they have made best endeavours to find alternative funding and that they have
	attempted to locate an assignee for the Practice Lease.

17.	Related party transactions
	The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2025.