GOVERNORS, REPORT AND AccouNrs FOR THE YEAR ENDED 31ST MARCH 2024 OF JESUS HOSPITAL, ROTHWELL CHARITY REGISTERED NUMBER 201134 JESUS HOSPITAL, ROTHWELL INDEX TO THE ACCOUNTS L£gal and administrdtive infOnw￿ft Rep)n of (he Gov¢rrK)rs Rep)rt of the ItLdeFYndent EXami￿r Re¢eipL8 and payllEnts account Ge￿la1 Puw Fu￿1 Extraordinary Repir Fulld Siaiement of and liabiliiies 9-10 JESUS HOSPITAL, ROTHWELL LEGAL AND ADMINISTRATIVE INFORMATION Coverno SirJohn Robinx)n. Bt. (ajalrn￿n lo 3 Decemlxr 2024) R E Brniknell Esq. (Chairman from 4 December 2024) A E G de Capell BTODkc Esq. Mrs L C M Holknrow M W s￿ndI0Ve Charity Commissioffj Registered Nuniber 201134 PriDcipal address Messrs Fisher Gern￿n InrKJvaiion House WellaJKi Business Park Valley Way Matket Harborough I£tCC51ershi LE16 7PS Bank Naiional We5tmins¢er Bank 16 High Street Kellering Northamplonshi NN16 &SZ &blicitors Me55f5 lamb & Holll*s we￿ Sireet Kettcring Norihamptonshire NN16 OAZ lodepelldeDt Examiner Adrian ￿ Beniky AC. Messts Edward Peirson & Sons 21, The Poini k(KkLngha￿ Road Market HarlKTrrough Ltice￿ersh1Te LE16 7NU Pag¢ I JESUS HosprrAL, ROTHWELL ANNUAL REpoirr FOR THE YEAR ENDED 31 MARCH 211 The GoveTTr)rs are pieaseil lo presenl their retK>rt wther with ihe financial of the chari(y for the year ended 31 March 2024. STRUCTU￿ GOVERNANCE Af4D MANAGEMENT Comststutio Jesus Hospital, Roihwell is constituied by ihe Jesus Hospital IRoth*%ll) a￿TilY Sche]ne Confirnialion Act, 1959 (the "Act-l and i5 a registered Ch￿Lty. nwnber 201134. Governors The charity governors during the )¢ar to 31 Malth 2024 were in ￿l0111Y._ Sir John RobIn￿n. Bt. R.E. Brudenell E8q- A.B.G. de Catell B[￿k¢ F4. LC.M. Holix)row M.W. Spendlove The body of Goverwts shall con5isI. when complete, of a min1￿UM of five COM￿1¢nI rerxjns tesiding in ihe County of Northampton. Gover1M)￿ shall ix apw>in1￿ for a lerm ol five year5 by a ￿s01￿110￿ of the Governors passed al a special eling. No governor is enlitled io act as a governor unlil signing in the minute lthk of the (h)Yeinors a declaration of acceptan￿ aThd willingrtess to act in the Iru5t5 of ihe Act. Any comFetent govenh)T may IK te-app)iThted. A Governor ￿￿Y cew to hold the Offi￿ of goveTW)r if abseni from all ll*eiings of the Gove[￿rS during a period of two year5, or is adjudged bankrupt, or makes a con]tx>silion or arrdngellKni wilh credilor& OT is incapacitaied frorn ac(itLg as a governor, or who communicates in wriiiThg to ihe Governo[5 a wish lo resign. The (k)vertLors shall minute the ￿UrrenCe OE a vacancy al their [le￿ nvling aThd M wacancy shall be filled until after the lapse of one calendar nK)nih from its OCCUFrence. Governor iDductioD and Iraining New Govetnois undergo a btiefing on.. IhEir legal obliwdlions under chariiy law- the eonient of the Ad. Ihe management atld decision mhking pr￿ess. the Te￿nI financial ￿rf0Mla￿cc ol Ihe charity. and its future flow and oiheT business plans. GoveTTh)rs are etKOUTaged to atlcnd appropriate ex*rnal training events where i]*s¢ will facilita(e the undertaking of their role. Management The Govetnorn hold at lea￿ or¢ ordinary 0￿11￿8 in the year. Tr (k)ver￿)[S at tkir fi￿l ordinary ll￿eung in each year elect one of their nUm￿r to IK ¢hair]k)an of iheii n*etings until ik commencement of tbe ordinary meeting in the following year. A sFcial meeting may be summoned at any time by the ¢hairnwi or any ¢wo Gover[￿r& UP)n four days, notice being givell io ihe othei ￿Ver1￿)[S of ik matter5 to ￿ digjwd. The Governor5 etnploy a warden and have aPN)in￿l Messrs. Ftsher Gerllthn, Chartered SuTveyors, Innovatiotl House, Welland Bu5Lness ParK Valley Way, Market Hart￿rOU￿. L¢icester5hire lo oversee tk day to day of the Charily. The Truste¢s are rcviewng the Chartty's activitics and the risks that it fxe5 in its day to day 0￿[all005 and itltend to produce written p)]icies which are relevanl and appropriate ￿ ihose adiviiies and risks. The objecl of ihe Charity 15 to provide altttshouses for men. wt less than ixty years of age and of gwd Character wIMTr are Tesident in Counly of NoTthampLon. and preferably in th¢ Urban Disirict of Roihwell, al the lime of apw)inimeTht. The Governor5 tnay pxrniit the wife of any aitL8man to reside wilh him in the aluthouse5, and up)n death or removal of any al￿man, the Oovernors olay rKrmit his ￿ if weviously residing with him in the almshouses io continue in residence. The provision ofihe wilh warden assitsj ta¢ililies. provides a valuable public benefit for those in nee(1 withitl area of JESUS HOSPITAL, ROTHWELL ANNUAL REPORT FOR THE YFAR ENDED 31 MARCH 2024 Colltin￿ed OBJEcfivKs AND AcrnirriLg Continued The GovernoTS are requi￿d to lei and oiherwi5e manage IhE laod ￿lOngIng to Tharity oiher than ihal required lo reiained or occupied ft>r ils own purw>5es. The GovertK)rs shau not cre* any teTrancy in reversion after Jnore than three years of any exislittg temj, or for ]wre than twenly-one years cenain. 01 for less ihan ilk Ewt rent tsbiainable, wiihoul the sanclkon of the Charlly Commissioner5 or a Com￿tent couti. Statement on publie beneftt The Govemors are mrndfvl that it is of paramount i￿￿rtanCe that the Chatity's activities are carried out for (he public I￿ncfit. They confirni ihai Ihey have complied with iheiT duly in SeaioTr 4 of the Chaiilies Acl 2006 10 have due iegard lo the guidance published by Ihe Charity Commission on public benefit. ACHIEVEMENfs AND PERFORE￿NcE INCORPORATING FINANCIAL REVIEW The aiiached fina￿la1 accounts a￿ presented on a receipts and payments basis. which is a laciual record of the money Teceived and paid by ihe Cha¥ity during Ihe financial yeai. Thi5 basis, which h&s t£en consislenily applicd from or* year lo Ihe nexl, is consideTed io be Ihe nM)St appropTiaie for uninc0T￿f￿1cd ChaTilies wilh kn annual income (excluding sales of langible fixed asse15 and investments) of le55 than £250.000. A separale Statement of Assets aod Liabilittes. Iisiing the signif1&1rit rossessions and o￿l￿and11]g knial commiiments of t￿ &hen*. a( Ihe end of the financial year is also included. The accounis al￿￿ comply with the appwpriale legal requ1remeft￿ and protKJurKement5 made by the Charity Cotnmission. During the financial year nine of Ihe Icn almsb)uses were occupied throughout. (he Temaining flal was cmply for approximalely eleven moThihs wilh a r￿W resident admiiied just ￿￿Ore ihe end of Ihe year. As almshouse fl8ls bccojne available. Ihe opJx)rluoily LS taken to i]Krea5e ihe renl charged io rellecl ihe eyer increasing wnning cost& The Almshouse rents for exislin8 Lenanls were last reviewed in Manh 2013. Payments of £25,221 (2023.. £8,611) wete D]ade Én the ycar in te4KCt of repaiT and maintenar￿c of ihe Almshouses and lh¢ Warden's cottage. This in¢luded £13,710 S￿￿1 00 ik full rcnovaiiotl of OTh¢ ol tlle Aats and £4,392 on ￿¢W water heaters for Iwo of the oihers. In viewof Ihe age of the PrO￿rtY SI￿]ficaTh[ rnain*nan￿ costs are 10 Ix ¢￿￿ed in the fuiuTe. In additio￿ a total of £16515 (2023= £72.054) S￿nI in tEP3ir5 and Mainletydn￿ of the charity's tsther propertie5. which are let for inves1￿nt purtx>ses. It)¢luded wthin this expertditurc is £3,588 spent on l￿fing works 10 the annex behind the farmhouse at Hospttal Farm (Th)nK UlldEThv￿d). a5 well as a £4.878 coThlribuiion l¢)wards a shared track al Hospital FarEll (Roihwell). Rental receipts from (x)ilage5 for th¢ year wEre £25,(XKI which is £3.931 nKJre than in ihe previous year, the faTthouse ai Hospital Fami (Rothwcll) was vacant for 4)pioximalely 3 months of ihe year. Total renlal receipls of all ihree famis in ihe y¢ar were £36.978 ¢otnpared with £36.229 in 2022123. The fent charged on ihe ward￿'S House was kept a( £500 per monih resvliing in receipts of £6,0(M) (2023.. £6.(rfM)) for Ihe year. It LS th¢ Govemrs, rK)li¢y Éo maintain all of the Charity'5 properties in a gcK)d state of repair and are advised in this respe¢i by Me5srs Fisher Gern￿￿. In addition, conlinlle 10 reyiew the as5els lo er&uTe that their earning rK>ler)lial 15 maximised and that the Charity oFeTaies in a manKr ihat is nM)St suitable ￿ xhieve k)ng4erni objectives. MeuTS Fisher German valued Ihe prO￿rtY tK)nfolio as at 31 March 2012 and IlKse values are 5IK)wTh in ihe Si8[en￿nI of Assets and Ltabilities. ￿h¢r ihatt the di$￿SaI of ihe barns and land at Hospital FanN Rothwrll. last year, Ihe Goyernors are not aware of any malerial changes in ik PrO￿rty values sirKc that d￿e. It is pleasing to report that Ik investmenls in Core Investjnent FuThJ for Tharities administered by Ra1hbO￿ Unit Trust Managetnent increased in value by nK>re than 7% all￿U￿1¢d 10 £610,944 ai e[￿ of the year. JESUS HosprrAL, ROTHWELL ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 CoDtinued ACHIEVEMENtS AND PERFORMANCE INCORPORATING FINANCIAL REVIEW CoDtillved No remutleraiion Wd5 paid to Governors. A plicy of Try￿ee Indemnily I￿ra￿[l is in place and was Tenewed wilh effect from 17 February 2024. A premium of £2,078 (2023: £794) was paid for the coJDmetKitLgon thai date. As a result of the matters referred to at￿Ve. oyerall cth resery¢s dccFea*d by £1,236 ovei Ihe year atwj at the yearunls lo be reaelied. Adriaii A.Jl iiiley A.C.A. Edwydtho li% Pcir8uii & ChaTlcred Aecn 21, The Poitjl Ruckiiigliatll Road Miirkel Ili¢ rborough, Leicosi¢tshirc. ons, LE16 7NU 17 DEccmber 2024 Page 5 JESUS HOSPITAU ROTHWELL RECEivfs AND PAYMENTS AccouNr FOR THE YEAR ENDED 31 MARCH 2024 GENERAL PURPOSES FUND 20 Receipts ContributsoDS frorn AIn￿￿)en 30,693 30,178 Receipts frorn inv¢stmeDt assets: Farm ren15 Coitage rents Wayleave5 Disiributions from vnil Irusis Bank interest 36,978 36.229 21.1)69 496 5,657 409 993 16.146 496 79,613 63,860 Refund of almshouse ￿$ts. WaTden& House renl Council tax Light and heal TV ticences 785 525 15 7J25 RefuDd ofcosts relating ¢0 investment *ssets: Council tax Lighi and heat 338 102 758 758 Refund of [nanageD￿nt and administrdtiots costs: Subscriplions 196 257 196 257 VAT repayments from H.M. Cwtoms & Exe& 618 1,262 Total receipts from operational activities 117560 103,640 Gross proceeds of sAle ofillvestmeDt assel&" Charity Multi knet Fund Inco￿ Units Chatity Multi Fund Ac¢unMdalion Unils 9J97 273.173 9397 273,173 Equalisation OD purchase of investrntttt asse¢&" Core Investment F￿nd For Chatiti¢s Incoll* Units 171 1.331 Total Receipts 127,128 378,144 Page 6 JESUS HOSPITAL, ROTHWELL RECEiYfs AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 GENERAL PURPOSES FUND 2024 2023 Payments Direct almshollse costs: Staff c051s (ittluding Tccruilmenl) Water rdles Council tax Propeny repaiis- Almshouses & Warden's Coiiage MachineTy Tepair5 & garden ex￿￿5¢5 Light and heal Telephone Professional fees l£ttitLg fees- Aimshou5C5 5.418 5J23 1,529 299 8,611 2,29 13,130 220 600 iJ80 25,221 2,070 9,785 L076 45,950 32,491 Costs relatlDg to lllvtstmeDt assets: Light and heat Council laK Investment PrO￿riY ￿ pails Piule55ional fee5 Letting fees Cotlage rents deposit lodged 16.515 4.320 4,367 71054 1130 1,380 26,457 76.550 Manggement and adminislratioll e05ts: Ageni& fees A¢¢ouniancy fees InsuTallCe - Fslale (including valualion fees) Insurance - (k)vemoTS' indelljnity Subscriptions Inve￿lment manageTS' fees Miscellaneous 11830 10.793 2.070 6.098 794 1,107 1,867 55 6.365 2,078 650 25 J63 22.784 Paymellts for fixed assets and other pAyJnents: Purchase of SlrimtDer Contrib￿lI0n lo Exlraord&nary Repair Fund VAT payments lo H.M. CustonL8 & Excise 50 1,774 10,121 10.461 1,824 Total payments for operational activities 108.231 133,649 Gross expenditUFe OD purchase ofillvestment assets- Core Investment Fund For Charilics I￿oMe Units 20,322 532.011 Total payments 128,553 665,660 Net payments Cash funds at 31 March 2023 (1.425) (287,516) 74.124 361,640 Cash funds at 31 March 2024 72,699 74,124 Page 7 JESUS HOSPITAL ROTHWEIL RECEivfs AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 EXTRAOIIDINARY REPAIR FUND 2023 Receipts Receipts frvm investment &￿ts. Di51ribulions frottl unli inL￿5 141 141 Other receipts: Contiibutxon from General Pur￿ FutKI 50 50 50 Total receipts from operational Activities 191 59 Gr05S PToceeds of sale of investment Asfjets: Charily Mulli Asset Fund Accumulaiion Units 4,858 Total receipts 239 4.917 Payments Gross expeDditure on purchase of investment a&%tts: Charity Mulli Asset Fund Accllmulalion Uni Core Inve51nienl Fund fior Charili&s I￿0￿¢ Units 50 4,858 4,SYJ8 Total payments 50 4,908 Net receipts 189 Cash funds at 31 March 2023 Cash funds at 31 March 2024 198 ENDOWMENT FUND 2024 Receipts Gross pr(wd5 of sale of iDYe5tment 85sets: Charity Multi A8sci Fund I￿0￿ Units 15.612 Payments Gross exptndithre ots of illvesttneDt assets: Core Invesiment Futld For Chariti&% UDits 15.612 Net receiptsl(Payments) Cash funds at 31 March 2023 Cash funds at 31 March 2024 Page 8 JESUS HOSPITAL, ROTHWELL STATEMENT OF ASSETS AND LIABILITIES AS AT 31 MARCH 2024 Molletary Assets ofthe GeDernl Puryoses Fund 2024 2023 Cash funds Bank curreni account Bank de￿)sIt account Invesiment manageTS ¢APital account Invesiynenl managers ¢a5h accounl 63.762 75 1,433 7,429 72,699 53.406 74 15,626 5,018 74,124 Prepaymenfs & Accrued Income Prepaid expenses= WaieT ril¢s Council lax Altnsljouse repaits Insurance Estate Governors, indemnily SubscTiplions 1529 134 183 270 183 3.420 1.753 3.049 701 546 6.114 6,142 Liabilities Hospital rents received in advance Fam) Ten15 reccived io advarKe 637 317 li 3,787 503 637 317 li 108 PAYEINIC Aim5hou5c repairs Inveslmeni property repairs Machinery repairs & garden expen￿5 Light & heat Atmshou% lelling fees Inveslmeoi PToperiy leiting fees A]mshouse professional fees Inve51menl property professional fecs Agent& fees Accoulltancy fees Fire risk a&8essment Fund managets, fees Transfer due lo Exiraordinary Repaii Furld VAT Payable 190 242 1,981 643 2,090 12lJO 5,515 1137 8.411 4,731 2.058 919 50 1.954 27,501 825 50 8,071 21,393 Page 9 JESUS HosprrAL, ROTHWELL STATEMENT OF ASSETS AND LIABILrriES AT 31 MARCH 2024 CONTINUED Non Monetary Assets 2024 2023 Endowment land alld bui]diDgs at Vall￿tion JI March 2012: 10 Altnshouse fla￿ WardetL¥ cottage and Ma1￿￿& coiiage. Rothwell (Use restTi¢ted by The Jesus Hospilal (Rothwell) Charily Scheme Coofirmation A¢t 1959) Hospital Hill Farmhouse 875,IKK) 875,1 o,(xx) I.105.0(M) 1,105,IMK Invtst)nent land gnd building5 at valuation 31 March 2012: Hospital Farm. Rothwell {42.075 acres). famthouse lei under a assured shorihold tenancy and land let undet a farni busin&ss tenaEV 334.51J) 334.500 334JNJ 334,5(X) Hospital Fair￿ Thortt UndeThMMMI (185.7Q a¢￿s} let u￿ley a full agticuliural tenancy Grange Far￿ Old (168 acres) let under a full agricultunl ierÈancy= 838,(M)O 754,(MM) 838,(KK 754.(MYJ 1.926.5(MJ 1,926,500 Functional Assets. GArdeD Equipment at cost: Mounificld Mower- Purchased M3y 2018 KaTcher Sirimmer- PuT¢hased May 2￿20 Makila SiritTuner- Purchased June 2023 499 499 150 789 649 lttvestmellt Assets Eudowment Inv£strntDts at valuatloll OD 31 ma￿h. Chari¢y Multi Assei Futmi I[Lcon￿ UtLiIS Core Investment FUMI For ThaTilies I[Koll￿ Units Other IDVtstments at valuAtiOD ott 31 March: Chati¢y Multi Asset Fur￿ Income Uttils Core lrtvesltnenl Fu￿1 For Charilies Itthme Unils 15,698 16.844 9.449 526,958 588,868 605,712 During the ￿MpardtIve year. income of £8.127 was accumulated within certain units that have Since been sold. 2024 552,105 EKFRAORDINARY BEPAIR TrIJND 2023 Non Monetary Awts Invesimertls at valuaiion on 31 March= Core Itlvesiment Fund For Thariue$ Incon* Units Mone¢Ary Assets Cash funds.. Inve51ment rnanage￿ cash attouDt Debtors: Tlansfcr due fromGeneTal PurEM)ses Fund 5.232 4.862 198 50 50 5,480 During the year. ithcome of £1 (2023: £144) was xcumulated within ttrtain units that have since been sold. 4,921 R. E. Brudenell Esq. Chairnun For and OR behalf of tk Lknvernot5 17 Decemt*T 2024 Page io