Charlty number.. 1205291 BUNGAY MEDICAL CENTRE CIO UNAUDrrED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 BUNGAY MEDICAL CENTRE CIO CONTENTS Page Reference and administrative detsils of the CIO. its Trustees and advise Tru5tee5' report Independent examlnerfs report Statement of financial activities Balance sheet Notes to the flnanclal statements 9-22 ## **BUNGAY MEDICAL CENTRE CIO** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CIO, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025** |**Trustees**|Professor Christopher H Hand (appointed 19 October 2023)| |---|---| ||Harald R G Pulford (appointed 19 October 2023, resigned 12 August 2025)| ||Iain R Huggins (appointed 19 October 2023)| ||Denise M Walker (appointed 19 October 2023)| ||Stephen Honeywood (appointed 19 October 2023, resigned 12 August 2025)| ||Dominic C Kent (appointed 19 October 2023)| ||Karen L Smith (appointed 19 October 2023)| ||Martein R Bainton (appointed 19 October 2023)| ||Emma S Beese (appointed 19 October 2023)| ||Jane Vass (appointed 12 August 2025)| |**Charity registered**
**number**
1205291
**Principal office**
Bungay Medical Practice
28 St John's Road
Bungay
Suffolk
NR35 1LP
**Accountants**
Larking Gowen LLP
Chartered Accountants
Faiers House
Gilray Road
Diss
IP22 4WR|| Page 1 BUNGAY MEDICAL CENTRE CIO TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual rep￿rt together vth the finanryal stslements of the CIO for the year 1 April 2024 10 31 March 2025. Oblectlves and actlvltles a. Pollcles and objectlves The objects of the CIO are for the benefit of the inhabitsnts of Soulh Norfolk aThJ North Suffolk, particularly in Bungay and ils surrounding environ. lo provide for the health care of suth people through the prevention of ill health, relief of sickness and the protection and preservation of health partiiyjlady by providing and assisting in the provision of a medical centre linduding bul not limited to the wrchasng, building. equipping, maintenance and managing of such a centre). In 88tb.ng objectives and planning acbvitiès. the Trustees have given due ¢xJnwderalion to general guidance publish& by the Charity Commission relating to public benefit, indudlng the guid8nce'Public benefit.. running a charity IPB2)'. b. Actlvltles undortakon lo achleve objectivgs To provide transport for local patients requirin9 treatment for cancer and subsidising other pallenls requiring Iransiy)rt for speryalist treatmenl. 2. Giving grants to individuals for equipment in the relief of sickness. 3. Giving grants lo organisalions. 4. To provide equipment and accommcmlation to Ihe Bungay Medical Practice. Achlevements and perforniance . Income Total income for the year was £241,04512024- £298,169). Rental income from the Medical Centre reduced lo £194,300 from £222,318 in 2024 due lo the end of the ￿armaCY lease on 31 March 2024. Page 2 BUNGAY MEDICAL CENTRE CIO TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Achlevements and perforniance Icontinuedl b. Revlew of adivities Grants to 9 Individuals amounted lo £25.557. Vinw flooring for t*droom New toilet facilities Rehamove cyding system Mobility chair Mobility scooter Ris& and recliner chair Mobility scooter Power wheelchair Double bed and orthopaedic mattress £1.765 £810 £12.535 £2,395 £1.799 £1,240 £2,194 £1,719 £1.100 Further grants lolalling £8.740 V￿re made lo 5 individua15 to provide assislance wlh travel costs and necessary building works. Grants lo 3 local organisations amounted lo £15.241. Bungay Area Communlty Tr8nstx)rt was avrdrded £10.0￿ 12024". £10.0(M)) as a 50% subsidy for all patients attending medical appointments. a￿1 £2.168 for the purchase of tv*￿ laptops and assocAaled set-up costs. . Investment pollcy and perfomian¢• Our investments rose in value from £1.151.245 at 31 March 2024 to £1.181,281 at 31 Marth 2025. Alex Cutts, of Loveday amd Partners. monitors the portfolio every four months and attends our meetings. Flnanclal r•vlew a. Going concem AfleT making appropriate erwuiries. the Trvstees have a reasonable eX￿ClaI10n that the CIO has adequate resourcgs to continue in operational existence for the foreseeable future. For this reason, they continue lo adopt the going concern ba&s in preparing the finanrAal statements. Further delails regarding the adoption of the going concern basi5 Gan be found in the accounting poliryes. Page 3 BUNGAY MEDICAL CENTRE CIO TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 b. Reserves policy A Community Infrastructure Levy grant will be awarded in the next financial year by East Suffolk Council of £1,524,000 inc. VAT which is lo be used for the addition of 4 further clinical rooms. a meeting room, a new uice room, an enhanced ReceptionlDispensary desk and a new Front Entrance Area. This work will start in Ortober 2025 with completion anticipated to I￿ March 2026. In addition lo this work, the opportunity is betng taken to generally refuth"5h the Practice Building which was opened in 2001. This refurbishment programme is still lo be agreed and costed, bul will be funded from Reserves. A formal reserves policy wll be drafted once the final w5t d the anlicapaled refurt)ishment is known as this wll significanuy redu￿ the reserves availatAe in the futrjre. The total reserves at the year erKI for charitable use amount to £2,100,792 12024.. £2.010.1111 of vthich £758,854 12024.. 679.776) are invesied in tsngible fixed assets, leaving free ￿SerVeS of £1,341,938 12024.. £1,330.3351. Cash funds held at the bank at the year end amounted lo £72,81912024.' £93,513), with further cash funds of £9,07612024.' £1,704) held with Loveday and Partners. structure, govèmanc8 and management Constitution Bungay Medical Centre CIO is a registered charity. number 1205291. and is constituted under 8 Trust deed sch adopted on 9 March 2023. The CIO was registerd as a charity al Charity Commi￿$0￿ on the 19 October 2023. The CIO was d(Kmant until the 31 March 2024. %then the CIO'S predecessor charity, the Bungay Medical Centre Charitable Tnjst I'lhe predecessor th8ri1fl inctywrated and merged ￿1th ils subsidiary, 8ungay Medical Centre Property Company Limited, to form the CIO. On thal dale. all the assets, liabilities and operations of the pred8cessor charity and its subsidiary were transferred to the CIO for £nil wn&derdliO￿. Since that dale the predecessor charsty has been domanl. b. Methods of appolntment or election of Trustees The management of the CIO is Ihe reSp(￿￿bIlty of the Trustees are elected and co-opted under the temis of the Trust deed. c. Organlsatlonal structure and declslon•maklng pollcles The Trust Board meet three times per year al Ihe Bungay Medical Centre. These meetings are usually in the spring. summer and auLuTnn. At the autumn meeting. the accounts are presented and %gned. Additional speaal meetings are called vthen required. Page 4 BUNGAY MEDICAL CENTRE CIO TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 statement of Twstees. rnsponsibilities The Trustees are responsible for preparing the Trustees, report and the financial ststements in acwrdance with ap￿ICable law and Uniled Kingdom Accounling Standards (Unit& Kingdom Generally Accepted Accounting Practlcel. The law applicable lo charities in England & Wales requires the Tnjslèes to prepare financial ststements for each financial year which give a true and fair view of the state of affairs of the CIO and of its incoming resources and application of resources. induding ils income and expanditure, for that pariod. In preparing thfjse financial slalemenls, the Trustees are required to: select suitable 8C(y)unting policies and then apply them 0￿￿$tentIy.' obsetve the methods and prinuples of the Charities SORP IFRS 1021.. make judgments and ac(y)unling estimates that are reaS￿at￿e and prudent,. stale whether applicable UK Accounting Standards IFRS 1021 have been followed, sut4.ect lo any material departures disclosed and explained in the financial statements- prepare Ihe financial statements on the gcing ttjncem basis unless il is inapyopriale to presume that the CIO wll continue in business. The Trustees are responsble for keeping adeouate accounting record5 that are sufficient to show and explain the CIO'S Iransacb'ons and disclose vthh rea50n8ble accuracy at any time Ihe financial position of the CIO and enable them to ensure that the financaal statements COTnply wth the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 8nd the provisions of the Tnjst deed. They are also responsble for safeguarding the assets of the CIO and hence for tsking reasonable steps f(Y the preventic￿ and detection of fraud arKI other Irregularities. Approved by order of the members of the board of Tnjstees and &gned on Iheir behatf by.. Professor Christopher H Hand (Chair of Tnjsteesl D8te. a9.10.2a2S Page 5 BUNGAY MEDICAL CENTRE CIO INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Independent examlnevs report to the Trustees of Bungay Modlcal Centre CIO {Ihe CIO'I I report lo the charily Trustees ￿ my examination of the 8ccounts of the CIO for Ihe year ended 31 March 2025. ResponsSbllltl•s and basls of rèport As the Trustees of the CIO you are responyble for the preparatiM of the accounts in accordance ￿th the requirements of the Charities Act 2011 {Ihe 2011 Act'l. I rekx)rt In resp8¢1 of my examination of the CIO'S ac(x)unts carried wt untjer section 145 of the 2011 Ad and in carrying out my examination I have follo¥%ed the applicable Directic￿S given by the Charity Commission under section 14515llbl of the 201 t Act. Independent examinees $tat•ment I have completed my ex8minallon. I confimi that no matters have come to my attention in connection ￿th the examlnalion giving me cause lo believe that in any material resped.. accounting records were not kept in resp￿1 of the CIO as required by section 130 of the 2011 Act., OT the accounts do not accord wth Ihc&se reo)rds'. the accounts do not comply with the applicable rewirements corteming the fom) and content of accounts sel out in the Charities (Accounts and Repcwts} Regulations 2008 other than any requirement that the a(Lounls give a Ywe and view is a mattw considered as part of an independent examinatson. I have no concems and have come auoss no other matters in eonnection with the examination to thich allenlon should be drawn in this report in order lo enatrAe a propw understanding of the accounts to be reached. Larking Gowen LLP have provided Servi￿ to the charity that indude assistance wth cy)mpiling figures for these financial statements, and bookkeeping in the period. In (x)nductirrfJ the independent examination, we have applied exemptions for small entities in the FRC'S Ethical SlaThJard. This retM)rt is made solely lo the CIO'S Truslees. as a bcxyy, in accordance wth Part 4 of the Charities (Accounts and Reports) Regulations 2008. My V•t)rk has been undertaken so that I might state to the CIO'S Trustees those matters l am required to ststo to them in an Independent examinerfs repori and for no other purpose. To the fullest extent permitted by law. I do not accept or assurne responSi￿lItY to anyone other than the CIO and the CIO'S Trustees as a LMJdy. for my or for this report. Signeil: tL,kfl. /, Dat￿.. 20 November 2025 ChTlStopher Yeates FCA DChA Larking Gowen LLP Charte￿d Accountsnts Diss Page 6 BUNGAY MEDICAL CENTRE CIO STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Endowment funds 2025 Restricted Unrestrlctsd funds funds 2025 2025 Totsl funds 2025 Tol81 funds 2024 Not• Incomg and endowment5 from: Donalions and legaues Charitable activities Investments Other Inc¢Jne 37,830 222,318 36,210 1.811 194.300 22,803 23.942 194.300 22.803 23,942 Total Income and endowments 241.045 241.045 298, 169 Expenditure on: Raising funds Charilable activities 14,323 160.296 14,323 160,29fj 14,402 140,385 Total oxp8ndSturn 174.619 174,619 f 54,787 Net income bofore net gains on invastments Nel gains on investments 66.426 66.426 143,382 24.255 24255 62,310 Net movement In funds 90.681 90,681 205,692 Reconclllatlon of funds.. Total funds brought forward Nel movement in funds sooo 100.000 1,905,111 90.681 2.010.111 90.681 1,804,419 205,692 Total funds carried forward 5.000 100,000 1,995.792 2,100,792 2,010,111 The Ststemenl of financial actlvities includes all gains and losses rwnised in the year. The notes on pages 9 to 22 f(ym part of these finanaal stalements. Page 7 BUNGAY MEDICAL CENTRE CIO BALANCE SHEEr AS AT 31 MARCH 2025 2025 2024 Nola Flxed assels Tangible assets Investments Inv8Stmenl propety 12 758.854 1.181.281 100.000 679. 776 1, 151.244 100,000 14 13 1040.135 1,931.020 Current assets Debtors Investments 15 16 2.511 9.076 72.819 15,953 1. 704 93,513 Cash at b8nk and in hand 111.170 Current Ilabllltles Creditors.. amounts falling due within one year 17 (23.7491 (32,079) Net current assets 60.657 79.091 Total assets lass current Ilabllltlgs 2.100.792 2,010.111 Total net assets 2.100.792 2.010, 111 Charlty funds Endowment funds Reslricled funds Unrestricted funds 5.000 100,000 1.995,792 too,000 1,905,111 Total funds 2.100,792 2,010,711 The finanual slaleFAents were approved and authorised for issue by the Trustees and sgned on Iheir behalf by.. Professor Christophor H Hand Ichair of Trustees) D8te.' ￿ ICJ.XC The notes on pages 9 to 22 forrTF part of th&%e financial ststements. P8ge 8 BUNGAY MEDICAL CENTRE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 General infonnation The members of the CIO are the Trustees named on page 1. In the event of the CIO being wound up. the members of the CIO have no liability lo C￿ntribute to its awls and no ￿rSonal responsibility lor settling its debls and liabilities. Accountlng pollcles 2.1 Basis of preparation of financial 8Litements The finanaal statement5 have been wepared in ac0Ydan￿ *ith the Charities SORP (FRS 1021- Accounting and Reporting by Charilies.. Slalement of Recommend&1 Practi￿ applicable lo charities preparing their accounts 111 8wd8nce wth the Finanaal Rep￿ting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard aF)pli(xble in the UK and Republic of Ireland (FRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a Irue arKJ fai¢ view and have departed from the Charities IAccounts and Reports) Regulations 2008 only lo the extent required lo provlde a Irue and fairf view. This departure has involved followtng Ihe Char(ties SORP IFRS 1021 published in Ortober 2019 rather than the Accounling and Reporting by Charilies.. Statement of Reeommended Practice effective from 1 April 2005 whid) h8s sincfj be￿ ￿thdra￿. Bung8y Medical Centre CIO nhe CIO") meets the definition of a public benefit entity under FRS 102. As581s 8n¢J liabilities are ini*ally recoNJnised at hislorical c05t OT transaction value unless othwse stated in the relevant accrAJnting policy. On 31 March 2024, the CIO'S predecessor tharity. the Bungay Medical Centre Charitable Trust I'lhe predecessor chariw) illcorpor8ted 8nd merged with its sub5idi8ry. Bungay Medical Centre Property Company Limited. to form the CIO. On that dale, all Ihe a￿ets, liabilities and operations of the pred￿Ssor charity and its subg'diary were trdnsferr&l lo the CIO for £nil consideration. Since that dale the predecessor charity has been dc*manL The comlj'nalion has been accounted f￿ merger al￿OuntIng. Under the merger accounllng method the resuhs of the CIO are presented as if il had always been in place and the carrying values of the assels and liabilities of the combining entities are not adjusied to fair valLTre. The Current year numbers in these accounts are the activities of the CIO from 1 April 2024 to the 31 March 2025. The comparative is the combined adwilies of the predecessor charity and ils subsidiary from 1 April 2023 10 31 March 2024. Page 9 BUNGAY MEDICAL CETr￿RE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 A¢countlng pollcles lcontlnued) 2.2 Income All income is reccwJnised once the CIO has entitlement lo the inccvn@. il is prcknable that the income w¢ll be received and the amount of inccrfne re￿1Vable can be measured rellably. The rec¢JJnition of income frcffl legaaes is dependent estaiAishing entitlement. the probability of receipt and the ability to estimate with wfficienl acu+raw ihe amount receivable. Evidence of enlillemenl to a legacy exists wthen the CIO has sufficient evidence that a grfl has been left lo them (through knovAedge of the existence of a valid wll and the death of the benefadorl and the executor is satisfied that the property in question wll not be requifed io satisfy claims in the estste. Receipt of a legacy must be recognised Nthen il is probable that il wll be received and the fair valu8 of the amount receivable. %thich will gwerally ￿ the expected cash amount to be distributed lo the CIO, can be reliably measured. Income tsx recoverable in relation to investment income is recc4Jnised al the time the investment income is receivable. Other income is recognised in the peri(KJ in whid) it is receNable and to the extent Ihe goods have been provided or on completion of the service. Page 10 BUNGAY MEDICAL CENTRE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles (Continued) 2.3 Expendlture Expenditure is recognised once there is a legal or c￿strUctive obligation lo transfer eo)nomic benefit lo a third party. it is probable that a transfer of economic benefits will be required in selllement and the amount of the obligation can be measured reliably. Expenditure is daS￿fIed by aclivily. The costs of each activity 8re made up of the total of direct costs and shared costs, including support costs involved in undertaking each aclivity- Direct costs 8ttributable lo a single activity are allocated direcdy to that acfivity. Shared co* vthid) coniribute lo more than one activity and support (￿lS which are not attfibu18ble to a sngle activity are 8PPOrtioned between those activities ￿ a basis ￿nSistenI wth the use of resources. Central staff costs are allocated on the basis of lime ￿ent. and depreciation tharges allocated on the portion of the assevs use. Expenditure ￿ raising funds indudes all expenditure inoJrr&d by the CIO to raise funds for ils charitable purposes and includes costs of all fundrdising activilies events and non.charitable trading. Expenditure on charitable activities is incuTTed on directy undertaking the activities which further the CIO'S objectives. as well as any a&8ociated supp￿1 costs. Granls payable are charged in the year vknen the offer is made except in Ihose cases where the offer is conditional. such grants being recognised as expenditure Yknen the conditions allaching are fulfilled. Grants offered SLtty'ect lo condrtions vknid) have not been mel al the year end are noted as a commilment. but not accTued as exp￿dit￿le. All expenditure is indusive of irrecoverable VAT. 2.4 Interest receivable Interest on funds held on depost is induded vthen T￿1Vable and Ihe amount can be measured reliably by the CIO- this is nornially upon notification of the interest paid or payaue by the institution with thom the funds are deKKJsited. 2.5 Tanglble flxed assets and depreclatlon Tangible fixed assets cx)sting £200 or more are capitalised and reccgnised vknen future economic benefits are probable and the (￿l or vaKJe of the asset can be measured reliably. Tangible fixed assets are initi811y Tecognised at cosl. After recognition, under the cost model. tangible fixed assets are measured al cx)st less accumulateii depreciation and any accumulated impairnienl losses. All costs incurred to bring a tsngible fixed asset into ils intended working cor￿1110￿ should be included in the measuremenl of cost. Assets in the course of C￿ls[rUCtI￿ are included at (x)sts inoJrr&J to date. Depreciation on these assets is not tharged until they are br(xJght into use. Page 11 BUNGAY MEDICAL CENTRE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting polici8s Icontinuedl 2.5 Tanglble flxed assets and depreciation {contlnued Depreciation Is charged so as to allocate the ￿st of tsngible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the followng ba Freehold land Freehold propety Fixtures and fittings Computer equipment 20A on a straight line ba&8 7.5% on a straight line ba&s 20% on a straight lin8 basis 2.6 Investments Fixed asset investments are a fom) of financial ins￿rnent and are Inillally recognlsed al their transaction cost and subSeqUen￿Y measured al fair value al the Balance sheet date, unless the value cannot be measured reliably in %thich case il is measured at cost less impaimienl. Inveslrnenl gains and lo&ses, whether realised OT unwlised, are combined and presented as'GainsllLossesl on investments. in the Statement of financial activibes. 2.7 Debtors Trade and other debloTS are Tecc*3nised at the setdement amwnt afler any trade discount offered. Prepayments are v81ued at the amount prepaid nel of any trade di5￿U￿ts due. 2.8 Cash at bank and in hanql Cash at bank and in hand indudes cash and thort-temi highly liquid investments wlh a Short maturity of three months or less from the date of acqui￿tion or opening of the depogl or similar accovnl. 2.9 Liabilities and provislons Liabilities are recognised vthen there is an obligation al the Balance sheel date as a result of a past event, it is probable thal a Irdnsfer of e￿nOMiC benefit wll b8 ieqLsired in settlement, and the amount of the sewemenl can be eslimated reliably. Liabilities are recognised at the amounl that the CIO anticipates It wll pay to settle the debt or the amount il has received as advanced payments for the gcx)ds or services it musl provide. Provisions ere meawred at the best estimate of the amounts requir￿ lo sell18 the obligation. Where the effect of the lime value of money is material. the prnvision is based on the present value of those omovnls, dI￿Unted at the pre4ax discount rale that roflecls th& risks specific to (he liability. The UnY￿nding of the dipKounl is recognised in the Statement of financial activities as a finance cosl. Page 12 BUNGAY MEDICAL CENTRE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles {contlnuedl 2.10 Fund accounting General funds are unrestricled funds Ipthich are aVaila￿e for use al th8 di￿re[lOn of the Trustees in furtherance of the general objectives of the CIO and have not been designated for other purposes. Roslricted funds are funds %thich are lo be used in ac(x)rdance vAth $￿ITiC restrictions imposgd by donors or which have been raised by the CIO for particular purroses. The costs of raising and administering 5uth funds are tharged ag8in51 the spectfic fund. The aim and use of each restricted fund is sel oul in the notes to the finanaal statements. The endowrnent fLbnd represents the exp￿dable endowrnenl held by the twstees in accordance wth the predecessor charity Trust Deed. Income from dona￿0￿$ and legacies Unrestrlctsd lunds 2025 Total funds 2025 Total funds 2024 Donations LegacAes 20,400 17,430 37,830 In¢ome from charltable actlvltl•s Unrnstricted fund$ 2025 Total funds 2025 Tolal funds 2024 Rent 194,300 194.300 222,318 Page 13 P8ge 14 BUNGAY MEDICAL CENTRE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Inveslment Income Unrestrfctgd funds 2025 Total fund6 2025 Total funds 2024 Investment portfolio Bungay Common Goings Other interest re￿iVed 20.883 1.920 20,883 1,920 33. 729 481 22,803 22.803 36.210 other incoming resour¢es Unrestrlctod funds 2025 Total funds 2025 Total funds 2024 Insurance ￿harged Feed-in tariff Early temiinatyon lease fee Miscellaneous ince4ne 122 1,689 23,891 51 23,891 51 23.942 23,942 1,811 Investment management costs Unrestricted tunds 2025 Total funds 2025 Total funds 2024 Investment management lees 14,323 14,323 14.402 8UNGAY MEDICAL CENTRE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Ana￿SIS ol grants Granls lo Grants to Institutions Individuals 2025 2025 Tolal funds 2025 Total funds 2024 Grants 15.241 34.297 49,538 58.734 Total 2024 40, 135 18,599 58, 734 The CIO has made the fdlosbing material grdnts to institutions during the year. 2025 2024 Name of Institution Bungay Area Community Transwrt Bungay Medical Centre Friends of Bungay Community Library East of England Ar Ambulance Bungay Community Cenlre 12,168 2.874 f 5,000 9,662 9,000 6,473 199 15,241 40,135 Anatysls of expendlture by actsvities Actlvities undertaken directty 2025 Grant funding of actlvltles 2025 Support costs 2025 T¢)tal funds 2025 Totsl funds 2024 Charitable activities 83,6 49.538 27.068 160.296 140.385 Total 2024 55,860 58. 734 25, 791 140.385 Page 15 8UNGAY MEDICAL CENTRE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Anatysis of expenditure by activities (continued) Analysis of direct costs Total funds 2025 Total funds 2024 ActNities 2025 Depreciation Propety repairs and maintenance Rates Professional fees Insuranc8 Equipment lewng 35,191 31,771 8,737 289 6,036 35,191 31,771 ,737 289 6,036 1,666 34,711 15.695 5,454 83.690 83,690 55,860 Anatysls of 5UPPOrt costs Total fund$ 2025 Tot81 funds 2024 Actlvltles 2025 A￿Ve￿￿ng Office costs Training Legal and profesyon81 Aecountancy Bank charges Honorarium 1,906 2,860 75 7.528 9.955 16 4,000 254 2,860 75 7,528 9.955 16 844 8.010 14, 170 92 2,000 336 85 Trustee insurance Sundry expenses 728 728 27.068 27.068 25.791 10. Independent examinerfs romuneratlon The indepEndent examinerfs remuneration amounts to an indeFendenl examiner fee of £4.000 (2024 - £6,690), and all other services not induded above of £4.715 {2024- £7,480). Page 16 BUNGAY MEDICAL CENTRE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Trustees. rernunerdtion and expenses During the year, no Trustees received any remuneration LY Other ben8fils (2024 £NIL). other than those disclosed In note 20. thjring the year ended 31 March 2025, no Truslee expenses have been incurred (2024- £NIL) 12. Tanglble fixed a$sgts Fmhold land Freehold property otor Fixtures and vehlcles fttting$ Computer equlpment Cost Al 1 April 2024 Additions 108.600 775.271 111.586 2fj.031 672.814 634 2.049 At 31 March 2025 108,600 886.857 21031 673,448 2,894 Depreclatlon Al 1 April 2024 Charge for the year 322.120 15.615 26,031 555,634 19,242 334 Al 31 March 2025 337.735 21031 574,876 334 Net book value At 31 March 2025 108.600 549.122 98,572 2,560 At 31 March 2024 108,600 453, 751 1IT.180 845 Page 17 BUNGAY MEDICAL CENTRE CIO NOTES TO THE FINANCIAL ST ATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Tangible fixed assets (continued) Total Cost At 1 April 2024 Additions 1,583,561 114,269 At 31 March 2025 1,697,830 Depreclatlon At 1 Aprtl 2024 Charge for the year 903,785 35.191 At 31 March 2025 938.976 Net book value Al 31 March 2025 758,854 At 31 Klarch 2024 679, 776 13. Investment property Freehold Investment property Valuation Al 1 April 2024 100.000 At 31 March 2025 100,000 Freehold investmerit property represents eight Bungay Crynmon "goings" and is valued by the Trustees al open market value. A"g￿ng. is the right lo graze livestod( on the Common. P8ge 18 8UNGAY MEDICAL CEKfRE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Flxed asset investments Llstod Investments Valuation Al 1 April 2024 Additions Disposals Revaluations 1,151,245 285,960 1280,1791 24,255 At 31 March 2025 1,181,281 15. Debtors 2025 2024 Due within one year Trade deblors Other debtors Prepayments and accrued incrAne 603 12,599 2, 751 2.511 2,511 15.953 16. Current asset investments 2025 2024 Cash wth investment manager 9,076 1, 704 17. Credltorts: Amount$ falling duo within one year 2025 2024 Trade creditors Other tsxalion and soryal security Accruals 8nd deferred income 257 2.200 21.292 8,588 23,491 23,749 32,079 Page 19 BUNGAY MEDICAL CENTRE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 18. Summary offunqls Summary of funds - Gu￿8nt ygar Balance at 31 March 2025 Balance at 1 April 2024 Galnsl (Losses) In¢ome Expenditure General funds Endowment funds Restricted funds 1.905.111 5,000 100.000 241,045 {174,619) 24,255 1,995,792 5,000 100.000 2.010.111 241,045 1174,6191 24,25S 2,100.792 Summary offunds. prior year Balance al 31 March 2024 Balance at l April 2023 Gain (Losses) Income Expenditurp General funds Endowment funds 1.699.419 298, 169 (154, 787) 62.310 1,905.111 Restricted funds 100.000 ioo,ooo t,804,419 298, 169 (154, 787) 62.310 2,010,111 Page 20 BUNGAY MEDICAL CEpffRE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 19. Analysis of net assets between funds Analysis of net assets bet￿On fund6 - current year Endowment Restricted Unrestrictsd funds funds funds 2025 2025 2025 Tot81 funds 2025 Tangible fixed assets Fixed asset investments Investment property Current assets Creditors due within one year 1 C().OlXJ 658,854 1,181.281 100,000 79.406 {23.7491 758,854 1,181,281 100.000 84.406 23.749) Total s,￿0 1￿,0(￿) 1.995,792 2,100,792 The general reserve represents the free funds of the charity thid) are not designated for specific purposes. The endowment fund represents the expendable end01￿￿ent held by the trustees in accc*dance wth the Trust Deed. Restricted fund5 represent the land at cost on vthith the m&*cal centre is sluated. Analysls of net assets between funds - prlor yeaw Endowment funds 2024 Rests7ct8d Unrestrictsd fvnds funds 2024 2024 Totsl funds 2024 Tangible fixed assels Fixed asset Investment loo.￿0 579,776 1. 151.244 1CQ.000 106, 170 (32.079) 679. 776 1. 151,244 100.000 t71,ITO (32,079) Investment prope Current assets Creditors due wlhin one year Total 100,&)0 1,905.711 2.010,111 Page 21 BUNGAY MEOICAL CENTRE CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 20. Related party transactlons Dr D Kent is a dr￿lor of the Bungay Medical Practice, and is occupying the prwty Oy￿ed by Bungay Medical Centre CIO and is also a Iruslee of the charity. All of the trustees, exduding Dr D Kent, Mrs K Smith and Ms E Beese, are patients of the Bung8y Medical Practice. During the year, there were equipment purchases for the Burvjay Medical Centre of £2,874 12024.. £9,662). Payments tolalling £4.0￿ 12024.. £2,Crf)01 were made lo l Huggins. a trustee f¢X administration and management seryices. Page 22