REGEsfERED CHARIfY NUMBEL" 202631
REPORT OF THE TRu￿EEs AND
AIJDrrED FINANCIAL sfATEMEl¥fS
FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
HOsP￿AL OF THE BLESSED MARY
Lewis Brownlee (Chichesrer) knmited
Statutory Audi(ors
Appledram Barns
Birdham Road
chiCh￿t￿r
West Sussex
P020 7EQ

HosprrAL OF THE BLESSED MARY
CONTENTS OF THE FINANCIAL ￿ATEmENTs
FOR THE YEAR ENDED 31 DECEMBER 2024
Page
Report of the Trustees
I to 5
Report of the IndependentAuditors
6 to 8
Statement of Financial Activities
Balan¢e Sheet
io
Cash Flow Statement
li
Notes to the Cgsh Flow Statement
12
Notes to the Financial Statements
13 to 20
Detailed Ststement of Financial Activities
21 to 22

HosprrAL OF THE BLESSED MARY
REPORT OF THE TRUSTEES
FOR ThE YEAR ENDED 31 DECEMBER 2024
The trtjstees present their repK)rt wth the finanaal ststements of the charity for the year ended 31 De￿￿tEr 2024. The
trustees have adopted the provisions of Accounb"ng and Repciitng by Charfties- Statetnent of Recommended Prath"ce
applicable to charities preparing their accounts in accordan￿ with the Financial Repotting Stsndard appli￿ble in the UK
and RepublK of Ireland (FRS 102) (effeLtive l January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
(a) To provide ￿M$hoUSeS currendy St Marfs Hosptrdl, the married quarters. St Mary's Lodge, St Marvs Courtyard and
the Dears Mmshouses.
Ib) To provide pensions for residents and other local persons of good chardcter in need.
Constraints
(a) The first charge on the incorne of the Charity shall be the cost of maintaining the property.
(b) Any prorErbes not required to be retained or occupted for ttie purpose of the a)arity shall not be let for less than the
best rent awdilable.
Policy
It is the policy of the Trustees to assist poor persons of gocMI chaTrcter.
Public benefft
The trustees have Conside￿ the Chartty Commission guidano: on public tEnefft and consider that the objettives and
actiV￿eS of the Charity provide public benef￿ in that it provides gcx)d qualty, affordable sheltered accommodab.on and a
small measure of ffnanoal sUPPOrt to elderly people of limited finanaal means.
ACHIEVEMENTS AND PERFORMANCE
2023 Review
2024 was marked by continueij heavy investment in the rer￿Va￿.0Th and improvement of our almshouse and comme￿Ial
propety portfolio, a strategic review of the Charty's objectives and the implementstion of more realistic accomrncK1ation
charyes for almshou* resKJents.
The Very Reverend Edward Dowler joined the Board of Tnjstees as Chair in September 2024, subsequent to his
appointment Js the Dean of Chichester. Reverend Simon Holldnd and Jill Evershed-martin re&gned a5 Trustees during
the year, and three new Trustees were appointed.. Dawcj Parftt, Sophie Hull and Matthew Howard.
During the year Trustees undertook a strategic ￿VIeW of the Charty's obiettives and mission which was used to develop
a series of Vision Statements encompassing five key objectivps. These relate to the charity's role as a landlixd, rts
Christian ethos. its cuknjre and heritage, effective 9p￿rnance and role in ￿d￿ssing social exclusion.
As part of the wiew Trustees ￿solVed to restfutture the legal identty of the Charty as an incorporated brxly. Steps to
achieve this are ongoing and thi5 prcKess should be completed by the end of 2025.
Significant investment was made in the renordtion and improvement of the almshouse and commeroal property
portfolio. Major proietts induded the renewal of heating systems in the Hospital and Couityard buildings, the
repla￿Mertt of lJ)e lift in St Mary's Lodge and the renovation of three Georgian town houses in St Martin's Square. Other
projects emphasised the Charity's commitment to compliance with heaEth and safety reouirements. This involved major
upgrades tts fire dcxjrs, replacement or removal of several stair lifts and the extension of CGV coverage to our Riverside
almshouw.
It was resolved to dispose of five properties in St Pancrds, thix properties remained vacant at the end of the year
nding sale.
Charges to ￿SIdents were increased in line with proposals for a series of phased increa¥ to charge5 whith was agreed
in 2023. As a result of this J more conslstent set of i*Jarges nD¥V applies to all residents in our altnshouse prO￿r￿e5.
Dernand for almshouse accommodatk>n remains very strong, wtth only one v&ant almshouse being let during the year
and a growing waiting list of prDSpecbve applicants.
Page I

HOSPThAL OF THE BLESSED MARY
REPORT OF THE TRusfEES
FOR THE YEAR ENDED 31 DECEMBER 2024
FINANCIAL REVIEW
Financial posits'on
Totsl incoming resuJr￿S inueased fcY the year from £1,019,991 to £1,075,963 primarily due to an increase in
residenb'al income. Totsl experKiiture decreased from £1,103,191 to £1,074,327 as a resujt of dec￿35ed spend on
propety projects, leaving an operab.ng surplus of £1,636. There were net gains on Investments of £82,609. The overall
lanTr of Hospital ￿ndS stsnds at £26,255,095 com￿red to the previous yearfs totsl of £26,170,850.
Jnve5tment Strategy
The Finan￿ Committee for Chapter also acts a5 the overseeiryJ Finance Commitree for St Mary's investments.
strategy remains IOOOJQ equty, which at 31 December 2Ck24 was invested with CCLA.
Reserves pollcy
The Trustees have examined the requirements for reserv￿ in the light of the main ris￿ to the organisation. The
Trustees do not consider it necewry tts have an established ijolicy for reserves ès they consider the funds generated
frotll income [￿KI￿ang investments is suffiaent to cover operntin9 and governance o)sts and acTrss to investments can
be gained at short notice.
FlmlRE PLANS
The Hospitsl will continue to Meet its charitable oblettives in the future and to ensufft that all of its investment assets
are maintained to thè highest stsndard.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The foundation date of the Hospital is not known, though it repJtedly came in to existence In the second hèlf of the 12th
Century. The present Hospitsl building dates from a￿ut 1290.
The is govemed by a sC￿me of the Charity CDmmis<ioners dated 4th November 1898, which was re￿Sed on
17th February 1905, 13th February 1987, 8th August 1991, 2nd January 1997, 20th February 2018 and 26th June 2018.
The Trustees of the Hosptial and rts endOW￿nt a￿ drawn from the Chapter of Chichester Cathedral and also from
other individuals wtih knowledge or experience relevant to an aSmshouse charty.
Induction and training of new trustees
Upon ap￿)intMent, each new Trustee is made aware of their legal responsibilities and of their a￿aS affecting the
g0Veman￿ of the Fund. Regular ts3ining is provided to TrUSt￿eS as requi￿. This includes updating their knowledge
and understanding regarding regulatory and legal developmiJnt affecting their ￿sponSIbl11t1es as Trustees and the
govemance of the fund.
Internal controls
The internal control fvnction is undettsken by the Clerk to the Trustees on behalf of the Trustees In accordanTr wlth the
Financval and Management paper. He condu(ts an appraisal of the following management controls..
(a) Irnplementstson of management policies and diredives.
Ibl Sèfeguard of the assets and interests of the 3550ciats'oF).
(c) Compliantr with statutory and other regulatory ￿qUirementr5.
(d) The reliabiltty and integrity of financial and 0￿rab"ng inform.3tion.
le) Effioent, effective and economic use of resour￿.
W￿h ￿gard to finanaal matters, he ensure5 specifically that.
{n The kn cheque signatories are provided with authorised supwrbng dooJmentstk)n at the time of signatyre.
{g) A dose record is maintsined of rents receivable and attentioi drawn to any defaultery.
{h) The perfom)afi￿ of investments is monitored.
{1) Delegated limtts for finanoal expenditure are no* exceeded.
ti) Competitive tenders are sought for projects in ex￿SS of the limts authorised for single tender action and handled in
accordance with best pr￿thTr.
Page 2

HOSPThAL OF THE BLESSED MARY
REPORT OF THE TRusfEES
FOR THE YEAR ENDED 31 DECEMBER 2024
STRucfuRE, GOVERNANCE AND MANAGEMErfr
Risk management
The Chartty relies on 3 main income stream5 to support its aims:
l) Residenti81 lets
2) Commeroal lets
3) Investment irKome
Chichester is an affluent area and the ￿Idential market is buoyant especially for qualty lets such as the ones that St
Mary's own.
The commercial lets are all on go¢)1 tenant covenants w(th solid trading history, although market conditions have
become more challenging in recent years.
Only one property is an FRI lease ?nd that is the bank We ojrrendy insure the properb.es including residential.
The investment income porfrfolio is delegated by St Mary's to the Chapter Finan￿ Commlttee who monitor QLEtturris and
recommends investment mix. The eqtjity and bond ratio is currenlly IOO'.00 and is therefore at risk trj a svdden market
downtum.
Operational risk stsms from strdffing cover and competenTr and the TNstees review the siaffing needs wularty. The
staffing overhead is relatively low and competentr is shared across fiJnctions wth Chapter which redu￿5 cost and risk.
Heath aTrJ Safety risks are managed and a ftjll review was undertaken by third party in the yethus repotyng period.
F¥ge 3

HOSPITAL OF THE BLESSED MARY
REPORT OF THE TRusfEES
FOR THE YEAR ENDED 31 DECEPIIBER 2024
REFERENCE AND ADMINisfRATIVE DEfAILS
Registered Charity number
202631
Principal addrtss
Cathed￿1 Offi
The Royal Chanty
Cathedrdl aoisters
Chichester
West Sussex
P019 IPX
T￿￿tee$
The Very Reverend E t)owler (Chaimian) - appointed 14.09.2024
The Reverend S Holland (Chairman) - resigned 31.07.2025
The Reverend Qnon M Town*nd Payne - resigned 08.01.24
Mrs R Taunt
Mrs A Hayes- reslgned 12.04.2025
Mrs J Evershed-Martin- resigned 30.09.2024
The Reve￿nd J Dunn - resigned 31.07.2025
Mr S Dyson
Mr H CasUe-Smith
Mr M Howard - aP[mint￿ 11.12.2024
Mr D Parfitt- appointed 11.12.2024
Ms S Hull - appointed 11.12.2024
Auditors
Lewis Brownlee (Chichester) ￿rn￿ed
Charte￿d Accountsnts
statutory Auditors
Appledram Barns
"rdham Road
Chichester
West Sus
P020 7EQ
Solicitors
Irwin Mttchejl
Thomas Eggar House
Friary Lane
Chichester
West Sussex
P019 IUF
Bates Wel
10 Queen Street pta
London
EC4R IBE
Bankers
Natwest Bank PIC
5 East Street
Chiche*r
West Sussex
P019 IHH
Scheme Manager
Sue porter
Cl** to the fru5tees and Administrator
Mr Ivan Westem
Page 4

HosprrAL OF THE BLESSED MARY
REPORT OFTHE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
EVENTS SINCE THE END OF THE YEAR
Infortnation relating to events since the end of the year is giveri in the notes to the financial statements.
TRusfEES' RESPONSIBILrrY srATEMENT
The trustees are responsible for preparing the Rewrt of the I"rustoes and the financial ststements in accordan￿ with
ap￿l￿ble law and United ￿ngdoM Acccyjnting Stsndards (United Kingdom Generally Accepted Accounting Practfee).
The law applicable to charits.es in England and Wales, the Charities Art 2011, Charty (Accounts and Rep)rts) Regulations
2008 and the Provisions of the trust deed ￿qUireS the trustees to prepare financial statements for each fillancial year
which give a true and fair wew of the slate of affairs of the Lharity and of the incoming resourtts and appIl￿tion of
resources, induding the income and expendlture, of the charity for that period. In preparing those finanoal ststements,
the trustees are required to
selett sutrdble accounting policies and then apply them consistently¢
observe the methods and principles in the Charity SORP,.
make judgements and estimates that are ￿aSonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departu￿$ disclosed an
explain￿ in the financial statements-
prepare the financial statements on the going cDntrm basis unless it is inappropriate to presume that the charty will
continue in business.
The truste¥ are restx)n5ible for keeping proper accounting reojrds which disclose reasonable accuracy at any time
the fina￿al pOS￿"0n of the charity and to enable thern to ensure that the finanaal ststements comply w￿h the Ihrities
Att 2011, the Charity (Accounts and Rerorts) Regulab"ons 2008 the provisions of the trust deed. They are also
reswnsible for safeguarding the as*ts of the charty and henTr for tsknng reasonable steps for the prevention and
detection of fraud and other irregularities.
Approved by order of the ￿rd of tnjstees on .
1¥071iozS-
and signed on its behalf by..
The Very Reverend E Dowler- Chairman
Page 5

REPORT OF THE INDEPENDENT AUDThQRS TO THE TRUSTEES OF
HOSPITAL OF THE BLESSED MARY
Opinion
We haye audited the financial thtements of Hospital of the Blessed Mary (the 'charty} for the year ended
31 December 2024 which comprise the Statement of Financial Activrties, the Balan￿ Sheet, the Cash Flow Ststement
and notes to the financial ststemÈnts, including a summary i)f significant accounting policies. The finanoal rewrting
frnmework that has been applied in their prep3ration is api)licable law and United ￿ngdoM Accounting Standards
{un￿ed Ktngdom Generally Actrpkd Accounting practi￿}.
In our opinion the finanoal statements..
give a true and fair view of the strdte of the charity's atrdip.? a5 at 31 De￿mber 2024 and of its incoming resour
and application of resour￿, for the year then ended.
have been properly prepa￿ in attOrdan￿ with Unitéd ￿￿ngdoM Generally Awepted ACCOUn￿ng prarti￿,. and
have Iken prepared in accordance the requirements of the Charities Att 2011.
Basls for opinion
We condLKted our audit in accordance with Intemab"ollal Staridards on A￿j[￿ng (UK) {ISAs (UK)) and applicable law.
Our responsibilities under those Stsndards are fvtther de￿ribed in the Auditors, responsibilibes for the audit of the
finanaal statements settion of our ￿[JOrt. We are independ&nt of the tharty in accordance with the ethical
reqU1￿ments that a￿ rekvant to our audit tsf the finanoal statements in the UK, including the FRC'S Ethical Stsndard
and we have fulfilled our other ethical responsibilities in accordi3nce with these ￿quIrements. We believe that the audit
evidence we have obtsined is suffiaent and appropriate to provide a basis for our opinion.
Condusions relating to going con￿rn
In a￿ltIng the financial sktemetts, we have concluded that ttie trustrees, use Df the going con￿r￿ basis of accounting
in the preparntion of the financial thtements is appropriate.
Based on the work we have performed, we have not identified iiny material un￿[￿l￿t￿S ￿lating to events or Conditions
that, individually or collectivelyF m?y cast significant doubt on the tharity's ability to continLJe as a going cOn￿M for a
period of at least twelve months from when the financial staterr.ents are authorised for issue.
Our responsibil￿e5 and the re5wnsibiltses of the trustees wtii t￿S￿Ct to going con￿rn are described in the relevant
sections of this report.
Other information
The trustees are responsible for Ihe other information. The other information ccxnprises the information Included in the
Annual Re￿rt, other than the financial statements and our Rep)rt of the Independent Aul￿Or5 thereon.
Our opinion on the financial ststements does not cover the other inftim)aJon and, ey￿pt to the extent otherwise
expliciUy slated in our report, we do express any form of assuran￿ condusion thereon.
In connection with our audit of the financial statsments, OLJr responsibility is to read the £*her infom)thn and, in doing
SO, CDnsider whether the other information is materially incorislstent with tre financial ststements or our knowledge
obtained in the audit or otherwise appears to be materially m￿Str￿ted. If we identify such material inconsistenoes or
apparent material misststements, we are ￿qUired to determine whether this gwes rise to a materi31 misstatement in the
financial statements themselves. If, based on the work we liave performed, V￿ condude that there is a material
misstrtement of this other information, we are required to reKK)rt that fatt. We have nothing to ￿ port in this regard.
Matters on which we are required to report by exception
We have n(*hing to report in ￿SpeCt of the following matters where the Charibes (Accounts and Rerx)rts) Regulations
2008 ￿qUireS u5 to report to you if, in our opinion..
the information given in the RerA)rt of the Trustees is Inconsistent in any material ￿SpeCt with the financial
ststements. or
Su￿lent accounb.ng records have not been kept,. or
the finanoal ststements a￿ not in agreement with the acccxjnb.ng ￿CordS and returns- or
we have not received all the information and explanations w&. reqvirt for our aud￿.
Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE TRu¥fEES OF
HosprrAL OF THE BLESSED MARY
Responsibilities of trustees
As explained more fully in the Trustee5' Responsibil￿e5 Ststemen¢ the trustees are reS￿nsib￿ for the prepathon of
the financial strdtements whith give a true and fair view, and for such ir)ternal control as the trustees determlne is
netrssary to enable the p￿paration of financial statements that are frEe from materièl misststemen¢ wl*ther due to
fraud or error.
In preparing the finanoal *tements, the tsustees are responsible for assessing the charivs abllty to contfnue as a
going COn￿rn, disclosing, as applicable. matters related to going con￿rn and using the going cOn￿M basis of
accounting unless the trusiees e¥ther intsnd to liquidate th. charity or to ￿3$e operations, or have no realistic
alternative but to do so.
Our rtsponsibilities for the audtt of the financlal statements
We have been appointed as 3uditors under SeotiDn 144 of the charf￿e$ Art 2011 and report in accordan￿ with the Art
and relevant regulatii)ns made or having effett thereunder.
Our objeth.ves are to obtain reasonable assurdnce about whether the finawal strdtements as a whole are free from
material misstatement, whether due to fral￿ or error, and tD issue a Report of the Independent Auditors that includes
our opinion. Reasonable assuran￿ is è high level of assuraTh￿, but is not a gua¥antee that an audit condutted in
accordan￿ with TSAS (UK) will always detett a material misstatement when it exists. Misstatements can arise from fraud
or error and are considered tnaterkil rf, indNidually or in the aagregate, they could ￿asONablY be extkcted to influence
the economic decisions of users tsken on the basis of these financial *tements.
Irregularities, induding fraud, are instsnces of non-complian￿ wth ￿w5 and regulations. We design procedures in line
with our ￿sponsIbl1￿es, ouuined above, to detert material misststements In respert of irregularities, including fraud.
The extent to which our pro￿ureS are Capab￿ of detecting irregularities, induding fraud is detailed below:
Our approach to ￿entifyIng and a￿esSing the risks of materkAI misststement in respect of irregularf(ies, including fraud
and non-cornplian￿ wth laws and wulations, was as follows-
- the engagement partner ensured that the engagement team collectyvely had the appropriate competenTr, capabilities
and skills to identify or recognise non-o)rnpliance with appli￿ble laws and regulations-
we identEfied the laws and regulations applicable to the company through discussions wtrh directors and other
management, and from our commercial knowledge and experie11￿ of the settor-
we focused on speafic laws and regulations which we conside￿d may have a dirert material effett on the financial
statements or the opetBtions of the company, induding legiilthn such as the Companies Att 2006 and taxation
legi51ats.on
we assessed the extent of Complian￿ with the kws and re.gulaVons identified a￿ve through making enquiries of
management and inspetting legal corresrrtindeno, where ap￿icable. and
identified laws and regulations were c£)mmunicated wthin tr.e audlt team regularty and the team remained alert to
inStsn￿$ of non-complian￿ throughout the audit.
We assessed the su5TrPtibility of the company's finanaal sLatements to material misstatement, In(auding obtsining an
understsnding of how fraud rnight occur, by..
making enquiries of management as to where they considerpd there was susceptibilty to frdud, their knowledge of
attual, suspected and alleged fraud; and
considering the intemal controls in place to rn￿gate risks of fnud and non-comp1iall￿ with laws and regulations.
To address the tisk of fraud through management bias and over-ide of controls, we-
performed analytical prO￿dureS to identify any unusual or unexikctsd relationships-
- tested journal enknes to identify unusual transactions.
assessed whether judgements and assurnptions m￿je in determining the accounting estimates Set out in the
accounb.ng poliaes were indi￿tiVe of potential bias. and
- investigated the ratignaie behind signrfiont or unusual trdnxaons.
Ill response to the risk of irregUlar￿leS and nOn￿Omplian￿ laws regulations, we designed procedures which
induded, but were not limited to-.
agreeing finanaal ststement disclosures to underlwng SUPPDrbiig dLKumentstion-
enquiring of management as to artual and potentsl litigation and daims. and
reviewing correswlldence w(£h HMRC, relevant regulators an6 the companys legal advisors. where ap￿l￿ble.
Page 7

REPORT OF THE INDEPENDEwf AUDThORS TO THE TRUSTEES OF
HOsP￿AL OF THE BLESSED MARY
Be(zuse of the inherent limitations of an audit, there is a risk. that we will not detect all irregularities, including those
leading to a material misststement in the financial ststernents i)r non-complian￿ w￿h regulation. This risk increases the
MO￿ that Complian￿ with a law or regulation is removed from the evènts and trdnsacbons refletted rn the finanoal
strdtements, as we will ￿ less likely to become aware of inknn.￿s Df non£Omplian￿. The risk is also greater regarding
irregularttie5 occurring due to fraud rather than error, as frdud invotves intentionol concealment, forgery, collusion,
omi4ion or Misre￿sentratton.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Repc*rbng
Counctl's website at www.frc.org.uVauditorsresponsibilities. Thi5 description forms part of our Report of the
Independent Audthrs.
Use of our report
This re￿rt is made solely to the Char￿1$ tnjstees, as a L￿dy1 in accordance with Part 4 of the Charib'es (Accounts and
Repots) Regulations 2008. Our audit work has ￿en undertsken so that we might state to the charrty's trustees those
tnatters we ère required to stste to them in an auditorg report and for r)0 other purpose. To the fvIl￿t extent permitted
by law, we do not accept or assume re5w)nsibility to anyone other than the charity and the charity's trustees a5 a b(￿y,
for our audit work, for this report, or for the opxnions we have fi)rmed.
(ms (CLidiLtfv)(Jd
Lewis Brownlee (Chichester) ￿MIte
Sta￿tOry Auditors
Appledram ￿rn$
'rdham RrRd
Cthichester
West Sussex
P020 7EQ
Page 8

HosprrAL OF THE BLESSED MARY
STATEMENT OF FINANCIAL AcrIvmES
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
Unrestricted
funds
2023
Total funds
Notes
INCOME AND ENDOWMEfus FROM
Donations and legacies
204,692
149,775
Investment income
871 271
870 216
Total
1075 963
1019 991
EXPENDrruRE ON
Raising funds
218,449
197,574
Charitabje actK¥rties
Alrnshouses
855078
905,617
Other
Total
1074 327
1103 191
Net gains on inve*ments
315 687
NET INCOME
84,24S
232,487
RECONCILIATION OF FUNDS
Totsl funds brought forward
26,170,850
25,938,363
TOTAL FUNDS CARIUED FORWARD
26 255 095
26 170 850
The notes forrn part of these finanaal statements
Page 9

HOSPITAL OF THE BLESSED MARY
BALANCE SHEEr
31 DECEMBER 2024
2024
Unrestricted
funds Total funds
2023
Notes
F￿ED ASSETS
Tangible assets
Investments
io
li
4,667,725
21614 645
4,217,322
21 832 036
26,282,370
26,049,358
CURRENT ASSErs
Debtors
Cash at knk
12
182,789
201,020
196 102
208,112
397,122
CREDThORS
Amounts falling due within one year
13
(171,082)
1210.5581
CURRENT ASSETS
TOTAL ASSEfs LESS CURRENT LIABILITIES
26,319,400
26,235,922
CREDITORS
Amounts falling due after more than one year
14
{64,305)
(65,072)
NET ASSErs
26 255 095
26 170 850
FUND5
Unrestritted funds
17
26 255 095
26 170 850
TOTAL FUNDS
26 255 095
261708
The finanaal
tements were approved by the 804rd of Trust￿ ènd authorised for issue on
nd were signed on tts beha￿ by..
The Very Revefynd E Dowter- Chairman
The notes form part of these nnanoal statements
dge 10

HOSPThAL OF THE BLESSED MARY
CASH FLOW ￿ATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
Z023
Notes
Cash flows from opernting activftiEs
Cash geneftted from operations
Interest paid
(803,991)
(809,379)
Net cash used in opetsting activities
812 001)
817 121)
Cash flows from investing activitieg
Purchase Lif tangible fixed assets
Sale of fixed asset invesbnents
Rents reTrived
Dividend5 & interest
Interest re￿iVed
Dlvidends received
{623,744)
300,000
765,027
197,552
2,458
620
(358,5141
ioo,ooo
765,065
100,634
3,111
Net Qsh provided by investing activfties
641913
611702
Cash flows from finandng activitie5
Loan repayments in year
691
622
Net cash used in finanang acbvitses
622
Change in cash and osh equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
(170,779)
1206,041)
196 102
402 143
Cash and cash equivalents at the end of
the reporting pertod
The notes form part of these'rinancial ststements
Page 11

HOSPITAL OF THE BLESSED MARY
NOTES TO THE CASH FLOW sfATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
RECONCILIATION OF NET INCOME TO CASH FLOW FROM OPERATING ACTIVThIES
2024
2023
Net Income for the reporting period (a$ per the Statement of
Financial Actlvities)
Adjustments for:
Depreaation charge5
Gain on investmer
Interest recEived
Interest paid
DIv￿dendS re￿Ived
ents re￿Ned
Dividends and interest received
DecTease in debtors
Decrease in cre(Jitors
84,245
232,487
173,341
(81609}
(2,458)
8,OlQ
(620)
{765,027)
(197,552)
18,231
121,8T2
(315,687)
(3,111)
7,742
(1,406)
(765,065)
(100,634)
78,986
64 5631
Net cash used in operaUon$
ANALYSIS OF CHANGES IN NEf FUNDS/(DEBr)
At 111124
Cash fflow At 31112124
Net cash
Cash at bank
196 102
170 779
196 102
170 779)
Debt
I)ebts falling due within l year
Delts falling due after l year
(691)
65 072)
(76)
767
(767)
691
65 Q72}
Total
130 339
170 088)
The notes form part of these nnancial statements
Page 12

HOSPThAL OF THE BLESSED MARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POUCIES
Basls of preparing the financial statements
The financial statements of the charity, which 15 a public benefit entity under FR5 102, have been prepared in
accordance wrth the Charities SORP (FRS 102) 'Atcounting and Repo￿ng by Charities.. Ststement of
Recommended prarti￿ applicable to chartties prepicring their accounts in accordan￿ with the Financial
Re￿K)￿n9 Standard applicable in the UK and Republic of Ireland {FRS 102) (effecknve l January 2019),, Financial
Reports"ng Standard 102 The Financial Reportittg Stsndard appli¢3ble in the UK and Republic of Irelalld, and the
CharEties Att 2011. The finanoal statements have beeri prepa￿d under the historical cost convention, with the
exception of investments which are included at market iralue, as modified by the revaluation of certain assets.
Income
Atl inccxne is recognised in the Ststement of Financial Activities onTr the charity has enlidement to the funds, it is
probable that the incorne will be r￿1Ved and the amouitt can be measured ￿lIablY.
Income from investment propety ￿nts is recognised in the year in which it Is ￿￿1vable.
The Statement of financial acb"vibes includes the net gains and losse5 arising on revaluations and disposals of
investment assets throughout the year.
Expenditure
L[abil￿eS are recognised as expenditure as s(￿n as there is a legal or construttive obllgation comrnitbng the
charity to that expendff(ure, ￿ is probable that a transfe-. of economic benefits will te required in setuement and
the amount of the obligation can be measured reliabEy. l.xpendÉure is accounted for on an accnjals basis and has
been classified under headings that aggogate all cost related tr• the category. Where costs cannot direoiy
attn"buted to particular h￿d￿ng$ they have been allwAted to att￿￿￿eS on 8 basis consistent wtth the use of
resoLJrces.
Grants offered subject to cond￿On$ which have not bee.n met at the year end date are noted as a commitment
but not accrued as expenditure.
Tangible fixed assets
Depreciation is prDvided at the following annual JBtes li) order to write off each asset over its ests"mated useful
Freehold property
St Marls Lodge
Plant and machinery
2% and IOO/o on cost
in accordan￿ wfch the piDperty
20VD on cost
Propeity expendithre which grks above and beyoTrl siinple Maintenan￿ is capitslised, where the cost of the
work ex￿dS £50,000.
Taxation
The charty is exempt from tax on its charitable activities,
Fund actounting
Unrestiicted funds can be used in accordan￿ with the charitable objeth"v& at the dlscreb'on of the trustees.
Reslm"cted funds only be used for particular restrithj purposes within the objects of the charity. Restrittions
arise when specified by the dE>nor or when funds are raised for particular rethcted purFoses.
Pension costs and other post-retirement benefits
The charity operates a defined contributton pension sc..heme. Contributions payable to the charitys pension
scheme a￿ charged to the Ststement of Finanaal Activities in the period to which they relate.
l>onated gtsods
Donations are recognised on entitlement. Donation ol fixed assets are included in the accounts at values
provideo by the donor or at market wolue.
Page 13
continued...

HOSPtrAL OF THE BLESSED MARY
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUKnNG POLICZES- continued
Going concern
The charity have a larye amount of liquid assets which can be used to support any short-term downturns in
revenue and any exceptional expenditure. On this basis the Trustees believe the charity is a going con￿rn.
DONATIONS AND LEGACIES
2024
2023
Resident's contribution
Leg20es
Lknnations from wsitor5
204,054
123,401
22,459
638
INVESTME1￿ INCOME
2024
2023
Rents re￿iVed
Dividends & interest
Guest room rental
Deposit account interest
771,792
96,401
620
765,065
l(Kl,634
1,406
871 271
870 216
RAISING FUNDS
Invesbnent ManageM￿t costs
2024
2023
Propety repairs
Professional charges
Insurance
142,662
59,090
5,206
5,245
112,135
74,018
5,090
362
Heat & ￿ght
197 574
CHARITABLE ACTf4mES cosrs
Grdnt
funding of
artivities
Support
{see note costs (see
6)
note 7)
Direct
Totals
mshou5e5
769 151
855
81441 ￿78
Page 14
continued...

HosprrAL OF THE BLESSED MARY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THEYEAR ENDED 31 DECEMBER 2024
GRANTS PAYABLE
2024
2023
Alrnshouses
The totsl grants E￿Id to institutions during the year was as follows:
2024
2023
St F4"chard of Chithester Chrisiian Care knociation
(hichester Heart for Homeless
St Pete￿S Church, Selw
RNLt
Royal British Legion
Water Aid
Crisis
286
s,000
loo
660
97
267
76
95
SUPPORT COSTS
GovÈrna4)ce
Management
Finan
Totals
mshou5es
Included in the above is £7,500 which relates to the auditr)rs remuneBty"on.
TRUSTEES. REMUNERATION AND BENEFrrs
There were no trnjstees, remuneration or other benefits for the year ended 31 December 2024 nor for the year
ended 31 DeTrmber 2C123.
The￿ were no trustees, expenw paid for the year ended 31 DeTrmber 2024 nor for the year ended
31 December 2023.
STAFF COSTS
2024
2023
Wages and salaries
Soaal security costs
Other pension costs
94,268
8,760
96,191
7,865
122 223
The average monthly number of employees during the ye.ar was as ft)Ilows-
Employees
2024
2023
No employees re￿Ned emoluments in VAce55 of £60,D(X).
Page 15
continued...

HosprrAL OF THE BLESSED MARY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
io.
TANGIBLE FIXED ASs￿s
Freehold
property
St Mary.
Lodge
Plant and
machinery
Totals
cosr
At l January 2024
Additions
5,084,834
474 935
397,725
128,800
148 809
5,611,359
At 31 December 2024
5 559 769
397 725
277 609
6 235 103
DEPRECIATION
At l January 2024
arge for year
1,141,857
111 195
238,629
13,551
1,394,037
173 341
At 31 December 2024
1567 378
BOOK VALUE
At 31 Detrmber 2024
152
4 306 717 ￿72
3 942 977
4 667 725
At 31 De￿fflber 2023
159 096
115 249
4 217 322
11. FIXED ASSET INVESTMENTS
Listed Investment
investments
Propertie5
Totals
MARK￿ VALUE
At l January 2024
Disposals
Revaluations
3,604,536 18,227,500 21,832,036
(293,183)
(293,183)
At 31 0￿mber 2024
3 387 145 18 227 500 21 614 645
NEf BOOKVALUE
At 31 ￿e￿mber 2024
3 387 145 18 227 500 21 614 645
At 31 De￿mber 2023
3 604 536
18 227 500
21832 036
The￿ were no investment a55ets outside the UK.
Cost or valuation at 31 De￿rnber 2024 is repre*nted by..
Listed Investment
investments
Propertles
Totals
ValuatK>n in 2024
3 387 145 18 227 500 21614 645
All investrnent properb"e5 were subject to a fomal valuab.on undertaken by Flude Propety Consutsnts and
Chartered SuNeyors on 31 De￿miEr 2021. The basis of valuats.on was open market value.
Page 16
continued...

HosprfAL OF THE BLESSED MAFiY
NOTES TO THE FINANCIAL sfATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2024
12. DE￿rORs. AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade debtors
Other debtors
61,044
121745
56,788
182 789
201020
13. CREDrroRS: AMOUNTS FALUNG DUE WrnIIN ONE YEAR
2024
2023
Other loan5 (see note 15)
Trade creditors
Rent deposits
Acuu?Is and deferred income
767
40,159
47,631
691
90,710
46,342
210 556
Included above is dèferred income of £53,125 (2023.. £53,125) which relates to rents re￿IVed in adwance.
14. CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR
2024
2023
Other loans (see note 15)
15. LOANS
An analysis of the maturity of loans is given below..
2024
2023
Amounts fallino due within one year on demand:
Housing corporation
767
691
Amounts frdlling between one and two years:
Other loans- 1-2 years
852
767
Amounts falling due between tsvo and five years:
other loans - 2-5 yea
Amounts falling due in more than fwe years..
Repayable by instalments..
Other loans more SY￿ instal
60,290
61,457
Page 17
continued...

HOSPThAL OF THE BLESSED MARY
NOTES TO THE FINANCIAL STATEMENTS- continuod
FOR THE YEAR ENDED ￿?1 DECEMBER 2024
16. SECURED DEBTS
The following secured debts are included within creditors:
2024
2023
Housing cofpDTrty'on loan
The k)ans a￿ due to the Housing Corpothon and are secured by way of a speufic charges against the
properties owned by the charity. The loaF)s are repayable at varying rates of interest to a maximum of 10.75
r annum. Capttal is being repaid over 60 years froFn 31 March 1987.
17.
MOVEMENT IN FUNDS
Net
movement
in funds
At 111124
31112124
Unrestricted funds
Generdl fund
26,170￿50
84,245 26,255,095
TOTAL FUNDS
26 170 850
84 245 26 255 Q95
Net movement in fvnds, induded in the above are as follows..
Incomlng Resources
resouirces
expended
Gains and
lossls
Movement
in funds
Llnrestricted funds
General fund
1,075,963
(1,074,327)
82,609
84,245
TOTAL FU14DS
Comparatives for n7ovement In funds
Net
movement
in funds
At
31112123
At 111123
Unrestricted funds
GeneTrl fund
25,938,363
232,487
26,170,850
TOTAL FUNDS
25 938 363
26 170 850
Page 18
contint*d...

HosprrAL OF THE BLESSED MARY
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED JI DECEMBER 2024
17.
MOVEME￿ IN FUNDS- continued
Comparative net movement in fvnds, included in the above are as follows=
Irheoming Resour
resources
expended
Gains and
1055es
Movement
in funds
Unrestricted funds
General fund
1,019,991
(1,103,191)
315,687
232,487
TOTAL FUNDS
i OIQ 991
1103 191
232 487
A cuffent year 12 months and prior year 12 months combined position is as follows..
Net
movement
in funds
At
3x112124
At 111123
Unrestiirted funds
General fund
25,938,363
316,732
26,255,095
TOTAL FUNDS
25 938 363
316 732
26 255 095
A current year 12 months prior year 12 months combined net rll0ven￿nt In funds, induded in the above a
as follows..
Incoming Resources
expended
Gains and
Movement
funds
Unrestricted funds
Generèl fund
2,095,955
(2,177,518)
398,296
316,732
TOTAL FUNDS
2 095 955
2 L77 518)
316 732
RELATED PARTY DISCLOSURES
There were no related party transactions for the year enLled 31 De￿rnber 2024.
19. Po￿ BALANCE SHEET EVENTS
During 2025 a loan of £815,000 was given to Westboyffle Cornmunty Trust towards the development of an
affordable 1￿usTng scheme to provide socially rented aox)mmodation in Westboume. The loan carries a term of
30 years and an interest rate of 5% on the first £750,001) and 40h on the remaining £65,000.
Page 19
continued...

HOsP￿AL OF THE BLESSED MARY
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2024
20. PENSIONS
St Mary's Hospitrdl partia￿teS in the Churth of Engldnd Defined Benefts ￿eme (D￿), of the church
w0￿e￿ Pensions Fund, ft)r employees who joined the staff before 31st December 2Q02 and the Church Worke
Pensic>n Fund Pension Builder 2014 {P82014). At 31st De￿rnber 2024, there are no active member5. The assets
of fvnd are held setorately from those of St Mary's .4ospÈal.
The Defi￿ Benefts theme was the subjeci of a full valuation as at 31st D￿rnber 2022. The fund was shown
to be in surt4us and payments to meet a pre￿ouS deficr have now cea*d.
St Marys. also ￿￿cipateS in a Pension Builder (PB2014). Contiibutsons to this stheme are charged to the
ststement of financial ACtiV￿e5 as they arise.
Page 20

HOSPITAL OF ThE BLESSED MARY
DETAILED STATEMENT OF FINANCIAL AcfivThIES
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
INCOME AND ENDOWMENTS
Donations and legaa'es
Resident's contribution
Legacies
Donations from vlsthrs
204,054
123,401
22,459
638
204,692
149,775
Investment income
Rents received
Divhlends & interest
Guest room rental
DeposÈ account interest
771,792
96AOI
620
765,Q65
100,634
1,406
871 271
870 216
Totsl incoming rewurces
1,075,963
1,019,991
EXPENDThURE
Investment management costs
Property repairs
Professional tharges
Insuran
Rates
Heat & Light
142,662
59,090
5,206
5,245
112,135
74,018
5,090
362
218W9
197,574
Charitable activitles
Wages
Social security
Pensions
Rates and water
Insuran
ght and heat
Sundries
Garden expenses
Repair5 & maintenan
Outings & trips
Depn of St Marys Courtyard
Depn of St MaVs Lodge
Depn of plant and machinery
Gr?nts to instttibons
94,268
8,760
19,195
21,212
26,527
93,134
12,315
62,079
251,718
6,602
111.195
6,624
55,522
96,191
7,865
13,485
32.778
21,245
102,281
38,989
39,152
297,531
12,929
101,696
6,624
13,551
774,437
785,612
Support costs
Management
Telephone
Carried fornard
11,496
11,496
35,445
35,445
This ￿ge not forrn part of the sktutory fir)anaal ststements
ge21

HOSPtrAL OF THE BLESSED MARY
DETAILED STATEMENT OF FINANCIAL ACTrlmES
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Management
Brought forward
AdMin￿ratiOn and finanaal semos of Dean
and Chapter of Chichestèr Cathedral
11,496
35,445
IIA96
55,393
Finance
Bank charges
416
7,759
7,536
Governaft￿ costs
Auditors. remuneration
Bookkeeping
Legal and professional fee5
15,555
29.441
10,860
31,688
Total resour￿ expended
1074 327
1 103 191
Net incomel{eXpendi￿re) before gains and
1,636
(83,200)
Realised recognised gains and losses
Realised gains]{10sses) on fixed asset
investynents
Net In￿Me/(exPenditure)
Thi5 page thes not ft)rm part ofthe ststutory f nancial stttements
Page 22