Charlty No: 205112
CHRIST'S HOSPITAL OF ABINGDON
REPORT BY THE GOVERNORS
FOR THE YEAR ENDED
31 DECEMBER 2024

CHRIST'S HOSPITAL OF ABINGDON
In¢orporatlng:
The Twlity's Almshouse Charity
The Tomkins Almshouse Charity
The Abingdon Almshouse and Relief in Need Charity
The Charfty ol John Blacknall
Tho Charity ol RiGhard Wriggle5WQrth
Statutory and other Inlormatlon
Co-optative Governors
Mr C E Birks Imaslor from 01.1.241
MrLDKinu
Mrs G Butt Ilo 01.02.241
Mr K W Sen1or
Mr S J Mcconnell
rsJDKent
Mrs A Saunder8
Mr. S Workman
Mrs M Evan8
Ex Oflicio Govéfnors
Fleclor- Rev Dr E C Miller 110 03.10.241
Mayor Cllr Dr G Lewis OeE Ito 02.05.241
Mayor Cllr G Barody Ilrom 06.06.241
Nominallve Governors
Cllr G 8arocty Ilo 02.05.241
Cllr O Forder Ilo OS.06.241
Cllr T Groenaway
Cllr C Sanderson Ilrom 04.07.241
Cllr R J8hanlS Ilrom 04.07.241
Emeritus Govemor
Mr M W Mallhews
Cler1( lo the Governors
Mrs A Acolt
Address ol tho Charlty
4 Sl H91gn's Wharf
Abingdon
Oxlordshirg OX14 SEN
Prlncipal Bankers
Nallonal Weslm5n8ter Bank PIC
11 Markgt Placè
Abingdon
Oxltsrdshirè OX14 3HH
Sollcllors
Challenor & Son
Slrallon House
Bath Street Abingdon
Oxlordshirè OX14 3LA
Blake Morgan LLP
Seacourt Tower
Wesl Way
Oxlordshirg OX2 OFB
Auditor
Crowg UK LLP
R+ Building
2 Blagrav8 Sir88t
Reading
eerkshSre RG1 1 AZ
Inveslmenl manager5
Investec Wealth & Investment Limited
Part ol Ralhbones Group Plc.
2 Grèsham Street
London EC2V 7QN
Property managirKJ aganls
Orpwood Ltd Va Ath(in Orpwood House
School Road
Ardinglon, Wanlage
Oxlordshire OXI 2 8PQ
Aegislered Charity No
205112
Page 1

CHRIST'S HOSPITAL OF ABINGDON
REPORT OF THE GOVERNORS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Governors present their annual report and linancial slal8menls of the Charity lor the year ending
31 sl December 2024. The financial statements have been propared in accordance with the a¢¢ounling
pol￿1&5 sel out in note 1 to the accounts and comply wilh Ihe requirements ol th8 rg18vanl regulalions
issued und¢r the Charitles Act 2011, having rogard lo the applicable verslon ol tho Charities SORP.
1. STATUS. ADMINISTRATION AND CONSTrruTION
Th8 Anciènt Corporation ol the Master and Govérnors of the Hospital ol Christ of Abingdon I"Ancienl
Corporalion'l was created by Lellers Patent ol King Ethard Vl Sn 1553. Chrlst's Hospital ol Abingdon 18
now a Regislergd Charity regulated by a Schama sealed by the Charity Commissioners lor England
and Wales on 25 January 1971. The charity number, present Governors and advisor8 ara listed on
page 2.
2. STRUCTURE, GOVEANANCE AND MANAGEMENT
Christ's Hospital 1$ a Reglslered Charity regulated by a Schèma sgalgd by the Charity Commls$loner5 lof
England and Walas on 25 January 1971 and subsgquenl Orders of 1999 and 2002. Thg Govgrnors
perlorm their obligations under the Schemes lor the conslilu8nt Charities by applying tho Income ol tho
Charity lo provide charltable support lo rosidgnls ot the town ol Abingdon in Oxlordshire and such part ol
the ancient parishes ol Sl Helen, Sl Holon Wllhoul and Sl Nleolas, Ablngdon as do not fall wllhln Ihg
boundaries ol thè town. Th8 Govgrnorg are able to extend Ihg arga ol benefll lo tho immèdlata
surroundings ol Abingdon in cgrlain circumstances.
Durlng thè year wg sald goodbye lo The Revergnd Dr Charles MSller who relred alior 18 years servlce ag
an Ex Ollioio governor and Mrs Glynna Bull who had served as Governor for 20 years and Master from
2015, Mayor Cllr Gabby Barody was appointed as Ex Oftlclo Governor, replacing Mayor Dr G Lèwis OB
Cllr O Forder rgsigngd Clllr C Saundgrson, and Cllr Rawda Jehanll wero appointed as Nominativè
Governors. All newly appoinlgd Govgrnors arg provided with a Gopy ol th8 Scheme dated 25th January
1971 and subsequent Orders, a copy of the Annual Repc¢rt and Flnanclal Stal8menls lor Ihg last IlnanGial
year, the Charlly Cornmlssion book lor omall Ilnkl The Essonlial Trustee" and acc&ss to a copy ol the
Almshouse Association book 'Standards ol Alm5hous8 Management.. Th8y also havo a briefing meeting
with the Master and the Clerk. Governors arè ¢ncouragod lo attend the various s8minars organlsed by
thé Ajmshouse Association.
Al the Governors, Méoting in December 2024. il was proposed and unanlmously agreed lo rènew the
appolnlm8nl ol Mr Gharlio Birks lo be Master lor the year commgnclng 181 January 2025. Mr 8irk5
respacttully acceptgd.
Much ol tha work of Ihg charlty18 carried out by thè Govornors-In-Charg8, supported day by day by Ihe
Clerk, Flnance & Admin Assistant, Almshouse Adminlslrator and Park Koapgr. Governors-in-charge
durlng the year were as follows..
Mr S Workman
Mrs G Bult
Mrs M. Evans
MrLDKlng
Mr S J McConng11
Mr K W Senior
Mr C Birks
Park & Gardens Ilrorn 01.06.231
Almshouse Residents Ilo 01.02.241
Almshouse Residents Ilrom 02.02.241
- Almshous& Property
Eslales Ipropertyl
Finan¢9
- Grants
Page 2

CHRIST'S HOSPITAL OF ABINGDON
REPORT OF THE GOVERNORS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Govemors dalegate day lo day responsibility lor various aspects ol the Charity's allwrs lo-
The Clerk
who
manages
the staff and Ihe almshouse property
p0rlf0l￿. maintwns the Gharity's accounting and other records
and carries on the administration of the Charity to comply with
licable laws and regulations. The Clerk also manages the
Archivist who is ￿SPOnsible lor the recordAng and keeping
of material for the archives ol the Gharity.
Th8 Invèstment M8nao¢r$
who manage the portfolios h81d by tha Charity undera
discretionary management mandate.
The Property Managlng Agent•
who manage th8 investm8nl prop8ty held by the Charity.
Tho Chart•red Surv•yor8
who advise on the slruclural integrity of tho Charity s almshouse
propety to ensure a suitable standard is maintained.
2.1 Sch•m• ol Gov•manc•
Gov•rnor$ m81 on 818v8n Thursdays Ilncluding a strategy mgelln91 during the year lo enable them lo
dischargè thoir réspon51billligs. Al Iheso meglings. Gov¢rnors rec8lve reports from th8 Gov8rnois-In-
Chargè on thgir aclivilles In tho prgvlous month which conllrm, or rgcommend lor discussion, acllons to
be taken in both the short and longer lemi. These wrillen and verbal reports providg gach Govornor with
the Inlormallon n8c6ssary lo dischargè Ih8ir dutlos.
The Governors relaln responslbility lor all kèy declslons, Includlng approval ol..
Th• stratègy 8nd policl8s adoptodby th8 Gharily b achieve Ils ¢harllable objectives.
The annual budget.
Major capital expendlture, Includlng propety acqulslllon 8ndrefurt)ishmenl.
The 8nnual Ilnanclal slal8fflenls.
The appoinlment ol reS￿ents to vacant almshouses.
Under extraordNnary GirGumslances the need to sel aside a Ilcense lo occupy an almshouse.
Grant appI￿allOnS.
A framework ol aulhoriliès is in place, which map5 Out lh8 structure ol dglegallon as well as speclfylng
those issues which remain the preserve ol the Governors. This Iramowork emphasizgs ihe key rol8 01
specific Governor responsibility in the exercise ol executive control, subj8cl to r8POrting and ralllicalion
by Ihe Governors, as described abovg. The relevant individuals are idenlilied earli8r in this raporl on
pag8 3.
The FinanGe Governor monitors and reviews Ihe Charity's linancial and int8rnal control as w8118S
its investments.
The Grants Govemor receives, consKl8rs and evaluat8s applic81ions for chantable asslstance,
aGcording to the prow5￿￿S ofthe Scheme.
The Almshouse Property Govemor overs88s th8 manag8m8nl ol ixilh almshouses and health
and safety rrratters relating to the almshouses 2nd worwaces.
The Almshouse R8sid8nts' Gov8rnor looks aft8r th8 best int8r8sts ol th8 residents and takes the
lead role in the appoinlmentof new residents.
The Park and Gardens Governor ov8rs88S th8 manag8m8nt of Alb8rt Pa￿ and the almshouse
gardens.
The Estatgs (Propety) Governor oversees the managemenl of investm8nl properties to 8nsur8
rental arKI maintenance matt8rs ar8 d8all wilh in line with the Sohem8.
Pagg 3

CHRIST'S HosprrAL OF ABINGDON
REPORT OF THE GOVERNORS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
22 Related Partles and Conllkts ollnterest
During th8 yaar varlou¥ Govornors are invofved 8ilhor as Irusl88s or In the management of a numbor ol
voluntary organisalions majority ol which are In Ablngdon, Including..
The Albert Mernorial Trust IRegSsleiad Charity No 10762741
A￿.ngdon and Wikney Colleg&
The Ablngdon Bridgo (Registered Charity No 11600801
A￿ngdon School IRegislered Ch￿IlY No 10712981
Friends ol Abbey Bulldln9s Trust IRegisterod Charty No 11833981
Friends ol Abingdon Clvic Soclely IReglst8rgd Charity No 11833971
Quest lor Learning (Reoislered Charity No 11072191
St Michael's and All Angels. Church DCC
Abingdon Town Council
Friends ol St Edmunds School110961211
Filzharrys Manor Eslales Residents Assoclallon
Sunningwell Poor's Land Charity IR8gisl8red Charity No 2007251
Sunnlngwall Poor's Land Schools Foundation (Registered Charlly No 2855061
Th8 Law Society
Inslilule ol Mar1(8llng
Inslllule ol Management
Suslalnable Dlalogues
Ablngdon Surgery Pallenls Group
The Mental Health Foundallon
Inslltule ol Chariared Accountants in England and Wales
Dunmorè School
Abingdon L9arning Trust
Rlvgrslde Collectlon Manag8meni105662587
Manor Prèparatory School
Ewglme Almshousg Charlly12005811
Ppndon Museum13136141
The Charlty Is also a rn¢mber of the Almshouse Assoclallon to whom an annual subscripllon Is paid.
The Govamors havo adop19d a comprehensive policy lo idenllly all transactions with related partles or
other transactions which might involve any connlcl ol interest. These are detailed in Nola 13.
2.3 R•munorntlon
Our approach lo remuneralion is designed lo ensure we can attract and rètain the talgnlgd and rnolivaled
people we need to achieve our Mission and deliver our slral8oic goals. 11 is applied ¢onsislenlly across
the organisalion. We aim lo pay Gompelilively in the nol-for-prolil sector wlthin thg con19xI ol attordabilily.
We therefore Conslder factors such as salarles pald In comparabl8 organisalions.
No rgmuneralion wa5 paid either direcdy or Indirectly lo any Governor or connected person during the
period under revlew. Reimbursement of expenses occurs inlrequenlly and then only whon Governors or
staff arè acting on Ghrisl's Hospital or Almshouse Association businèss and orbly on production ol a vdid
recelpl and ih• compl8lion ol a reimbursement form.
Page 4

CHRIST'S HOSPITAL OF ABINGDON
REPORT OF THE GOVERNORS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
2.4 Insurance
The Governors manlain indgmnity insurance ol up to £1 million. The annual premium charged in Iheso
linan¢ial statemen15 was £868.00 12023: £868.00}. The Governors lully recognlsè that this does not
relieve Ihem ol Iheir responsibilities.
2.5 Rlsk Management Stat•mont
The Govèrnors havè assossed the major strategic, business and operational risk8 which they believe the
Charlty laces. The external risks and exposure Ihoreto are k9pI under ¢onslanl review, together with Ihg
Internal aspec18 01 health and $afèty-
A rlsk managèrnent register is maintained and is reviewed annually lo ensur& risks are effectively
managed by the Charity. The major risks and prevenlalive measures in place are as follows..
The investment managers, Inv&slec Wealth and Managemenl Ltd, manage the Charlty's portfolio wllhln
agr88d paiameler8 Imediumlhigh Tiskl which are monilorgd al least quarterly, and &1 Governors are
provided wllh summaries ol those reports. A represenlatlve ol the investment company presanls a formal
annual report and dI￿U$$i0n ol th• portfolio during at Igasl ong ol th9 Governors, m991ings, usually
March. The investment Gompany ensure Ihal Ihe Gharily invests in 'defensive' stocks whlch remain
mosdy unalfecled by economic variations.
l & Reslde
Adkin are a speclalisl property management company who managè the Charlly'8 propèrty and land and
report monthly lo the Governors, making rècommèndation$ as to the best way lo maxlmSse the return on
the Charity's portfolio, whllsl remaining wilhln the r¢mll ol Ihtr S¢heme.
The Governgrs Sook prolgssional advico on th9 riskg associated wilh Almshouses and other property and
Install and monitor saloty oquipmant and measures on a regular basss. In April 2015, a malor Fire Safely
Insp¢¢lion look place and as a rosull ol this upgrades were made lo lire equipment and policies. In
Sopleml)er 2019, the local Flre Officer also vlslled and was sallslied by the systems In place and the
supporting paperwork. In Sèptember 2021 Turner Fire SecuTily Ltd were appointed lo Garry out a lire risk
assgssmenl the lindlng8 ol whlch have been Implemented durlng 2023.
nlormati
nDam
Fra
rim
The Governors have taken advice on prevenlion of information Ihgft and rggularfy revlew the Charlty's
Fraud policy lo rellecl the ever-advanGing abllily 91 'fraudslers' lo galn access to senshlve Inlormatlon. In
2023 som• oldèr eompulèr oquipmgni was roplaced lo ensur8 lh8 lalesl bast practice lor back-up and
protgetson of information is adhered lo.
As a rosull ol a review into ot our $￿UrIty and back up concerns a new IT consuifant was engaged a8 01
May 2024.
Page 5

CHRISTS HOSPITAL OF ABINGDON
REPORT OF THE GOVERNORS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
2.6 Publlc Bgneflt
In lollowing the Charity's aims and objecllves. Trustees have had regafd lo the Gharily Commisslon's
guidatKe in complylng wlth Ihelr duty in section 17151 ol the Charities Act 2011 on public benefit. The
provlsion ol almshous8 accommodation lor thos8 in need provides an id6nliliabig public benefit which Is
directly In Ilnts with the Charlly s aims. Beneficiaries of almshousos musl be In need and wlll be drawn
from that $e¢llon ol the public which has been delined in the Scheme.
Thg Charity giv08 'rellel In ne8d' through educatlon grants and grants ol domesllc Items to those who
cannot afford them and fall outside the help ol the l¢xal aulhorily.
This year they also gav8 a
considèrable nurnber ol substantial grants to local Gharilles lor specllic purposes lo benetit resldents In
our area ol benelll. All the above are directly Idenliliable publiG benelll.
The Charlly also malnlalns Albert Park. a park whlch Is perrnanendy open lor use by any member of the
publlc and gasily aGGesslble lo all levels ol mobillly. This is also In Ilne wllh the Charilles scheme
docurnenl.
3. OBJECTS AND ACTIVITIES
3.1 obl￿t8
The Cbjects ol Chrlsl's Hospltal ol Ablngdon and Ils subsldlary chaTltleS W9rg crgaled lo provklg
char113ble support lo r8sld8nls ol Ihe town ol Abingdon-on.Thames In Oxlordshlre.
Thé Charity's Stratégy is lo provlde lurKls both for Indlvlduals and organlsalions lo provlde help and
rellel wilhln the terms of the Schomos, This can only be achSevgd wllhin the condlllons at the tlme. The
Primary objéctive is th9 provision ol almshouse accommodation. Funds are also avallable lor Ihg rellel
ol need and educallon ol residenls wllhln the area ol benelll.
The Charity owns Albert Park recreation ground and ils surTounding roads, and whllsl the Governors
lully recognlse Ihelr resF)onsl￿l1lY lor ih6 maintenanc# of th959, It d09s p¥ovide a major draln on the
Charity s r880urces.
The Charity mgasures ils su¢cgss In soveral ways. It alms to achieve a 90Vo occupation ral& lor
m5houses, lo maxlmlse the grants paid out and lo adhere as closèly as posslblè lo Its annual budget
in all argas. The Gharily is vory proud ol ils commitment lo keeping alfflshgu$9s a5 up lo dale as
possible within the confines ol Ihelr listed bullding status Isee'Th& èslatè'l.
The Governors are pursuing the process ol liansforming Chrfsl's Hospital ol Absngdon Into a Charily
Limlled by Guarantee ICLGI. Blake Morgan solicitor5 are preparing the relgvanl documentation lo
present lo the Charity Comfflission. They are conductlng a revl8w ol what Ihe Charlty does and what land
and propety it holds, advising on how the procgss ol Iranslormalion would take place.
A slgnificani area ol work èmèrged around tho First Registration ol currently unregistered land and how
to manage this in order lor it lo come undfrr the purview ol the new CLG. Governors dso embarkad on a
period of rell8clion and analysSs ol the Charlly's areas ol operatS0n.
Translormlng Inlo a CLG prèsents the Charlty wlth an opportunity to rèview ils scheme lo ensure it is
meeting the need lor effeclivo and appropriata control. The resulting changes should provide security for
trustees and a clear understanding for new trustees to quickly integrate in managing the Charity. It is
hoped a schedule ol the proposed schome changes lor Governors lo consider and agree will be ready In
the second quarter ot 2025.
The Governors are now actively reviewing the sustainability ol the CharSty as a whole. A long term vlew is
10 ￿ formulatèd to build in rgsiliencg lo our many and diverse requirements
Pag8 6

CHRIST'S HOSPITAL OF ABINGDON
REPORT OF THE GOVERNORS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3.2 Grants
The consequences ol the pandemi¢ aThJ cost ol living crisis continue lo be lar m￿8 complex than fiisl
envisaged. Famllies and Schools are struggling with linancos, organlsallons are finding il difficult to
recruil volunteers. Our young citizens are struggling with a complex sel ol issuès Ihat is of eonsid8rabl8
concern for their mantal health and lulure prospecls, especialty in our mosl deprived areas. Provlsion ol
Mont￿ health and SEN support Cannot ¢ope wilh demand.
We have a gtxjd relationship with our 13 state funded schools, the majority have had a personal vlsh lo
discuss iheir Issues, and are encouraged to apply lor grants to asslsl wlth school activities, equipment.
and sludenl support. 11 has become very appar8flt a growlng number ol studgnts ara vary rèsource
intensive, we have been pleased lo help by sup5)tsrting schoo15 in rosolving very dilliculi silualons by
providing professional support for the sludenls leaGhers and the family. The aim is lo ensure all students
have access to an Èducation slruclurgd lo their ngeds, whilst reducing th8 impact on the $chool as a
whole.
W9 havg begn worf(ing closely with home school Ilal8onlsupport slaff. as w¢ll a$ County and Dislrlcl
Councils, CAB and Heallh cara provld8rs. in rélieving hardship. The Charity continues lo provide help lo
Individuals with Rellel In Need payments lor equipment andlor basic necessities such as cookers,
washlng machines. fridge frèèzèrs, lurnilurè, carpels. Provisions lo inslilulions lend lo be more
subslanlial and aro usually for equipmgnt lo help them function and provide life skills lor vulnerable
peoplg.
This year the charlty has Increa8ed fundlng lor vuln•rablè adults in traSnlng programs wilhln varlovs
projects in Abingdtsn. Organisalions as various a5 Ihe, Be Free Young Garers. One Planet, Yellow
Submarine, The Ablngdon Brldge, as well as a number ol youth sportlng clubs, havè all benelitgd from
Christ'8 Hospilal ol Abingdon. We have pursugd our proa¢Jvo approach wllh some vlgour In encouraging
schools, and organisalions wllh maklng gTanl appllcailons lo ensure they are aware ol the Charlly's
capabilitiès and policla$. Ttt9 r8sponsg not only lo our ggnerosily bul also tha ability lo make where
necessary swlft decisions have been universally applauded. The oralllude expressed whèn on a numbor
ol occasions support has not been available from any other source r8lnlorces our standing within Ihg
town. Numbers o19ranls and valuos can be found within Nole 6 01 th8 accounts.
3.3 Th• Est4t•
The Governors aTè proud ol tha Charltlgs. ownership of s8Vgral fre8hold propertles in Abingdon that are
ol considerable historic and heritage interest. They aro mindful ol the inalienable nature ol these
properties and thèir duty to mainiain them. The most Importanl ol these properties are 8hown hare with
Long Alley Almshous88 and Hall
1446
Grade I
8rick Alley Amshouses and outbuildings
1718
Grad61
Si Helen's Whart Almshouse
1884
Grad911
Sl Helen's Whart Ollice
1884
Grad811
Sl John's Almshouses
1801
Grade11
Tomkins Almshouses & Clock Tower
1733
Grado11
Twilty's Almshouses
1710
Grade11
Albert Monument (within Albert Park)
1865
Grad911
Conduit House
circa 1500
Grad811
Albèrt Park
Listed Victorian Park
The Exchequer Room Ilorming part ol the Church ol Sl Helen, Abingdonl
Associated with thes& propertl8s are lurnilure, Ilttlngs, hlslorlc artelacls and an exlenslve archSve housed
In a climateoontroll8d building known as Ihg Dv8rsidge or Muniment room, which the Governors view as
bolh historic and inalienable.
Paga 7

CHRIST'S HOSPITAL OF ABINGDON
REPORT OF THE GOVERNORS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3.4 Albert Park and Long Alley Garden.
The Governors are committéd to mainlwning Albert Park for us8 by the people ol Abingdon. Challen98S
remain regarding Glimale change along with ecokigical responsibilities and dealing with Ihe
consaquences ol Honey Fungus. Ws continue lo replace trees in th@ Park which have died, or been
subj￿1 lo vandallsm, wllh specles whlch arè mor8 resistant lo changing climatic conditions. We also
maintain the mattJr8 Irè8$ in tho Park through a planned malnlenanc8 progiammè, ènsurlng d@ad
branches are removed so as not lo pose a risk to Path user8 during stormy woalher.
4. ACHIEVEMENTS AND PERFORMANCE AND RECORD OF ACTIVITIES
The Charity has again had a 8uccosslul year despilg tho Impact on soclely caused by th• many world
conflicts and climate change as well as the financial challenges lo the UK. Incomè from r8nl and
dividends has hèld up compared lo Ihe previous year, bul expenses have Increased signifKanily, du8 10
Incr8as8d18vels ol granl awards and increased expendllure on properly. The revaluatlon tsl properly has
rgsulied in an iner8ase of £130,575. There was a very small movement on the Commèrcial prO￿rty duè
to a decreased life ol lèase al Mullards Way and there was approxlmalely 2.5V. Incrèasè on tho loial
ResldenlSal Properlles.
It was leli that 11 was not necessary lo underlakg fundraising, as the Investment portfolio, and modèst
contributions from r•sidtni8 towards malntenance. continue lo contrlbule slgnilicantly to the planned
expenditure.
The Qulnquennlal malnlenanctt prograrn lor Tornkln5, Twlttys, and Long Alley Almshouses has b¢on
compleled along wllh th8 relurblshmènt ol nurnb8r 5 Tomkins.
Aopair and cleanlng ol the 8taln6d-gla8s wlndows In Lon9 Alley Hall has returned them to Ihèlr former
glory. This exercise although costly aeknowlgdged the governors, responslbillly lo the Hisiorleal buildlnus
of Ablngdon, they were much adrnlred on Herllagl opèn day.
Due to Ihg Increased rlsk to Inlernel security Gov$rnor5 have onga9gd a company lo malntain our
sy¥lgms and 51renglhen reslslance agalnsl atlaek.
A8 part ol our desire lo make the Charlty fall In Ilne wlth cllmalè obl8ctivgs Ihg dlosel Iraclor has now
been replaced with an electric vehlcle.
4.1 Re8idonl•
The residents continue lo have the benglil from an Almshouse Admlnislralor, who nol only acts as a
good neighbour and lakes an inlere$l in their wgllare bul Is a saleiy coordlnalor lor all routino t¢sling ol
alarms, walgr hygiene and minoi repaiT5.
Residents bgnefil fvom regular visits. and gathering$ whfjn circumstsnces allow, or phonélèmail eontacl
on a daily or weekly basis. depending on their needs.
The Govornors arg sorry to r@port that twice in 2023 they voted to sel aside a residenl'5 Ilcense lo occupy
their almshouse. Ona resid8nl1811 their almshouse as ioquesled in October 2023. In the other case the
Charity commaneed the legal process lo gvict the resldenl and they finally left in IAay 2024.
Page 8

CHRIST'S HosprrAL OF ABINGDON
REPORT OF THE GOVERNORS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
4.2 Tho E$iaio
Malntalnlng Heritage and En5urlng Saf8ty
Thè Governor5 01 Ihg Charity are dedicated lo presetving the heiilage of our esteemed estate while
managing the financial burden associated with maintaSning OL5r Ilsted buildings. This roport aims to
outlin8 th8 measures taken to malntsln and Improvc the Charlty's assets, ensurin9 the well-being ol our
residents and lullilllng our charitable obleclves and salaty obligations.
A$$•i Mainienqnce and Enhancomonls
Renovations and Relurblshments
Thè policy ol Ihg Governors is lo ensure that each almshouse, as It falls vacant. 15 updated lo a high
slandard ready lor reC￿CupatIOn. Notably, Five Tomkins has béen compl8taly ranovat8d allgr ￿enty.
fv40 y8ars ol occupation. Additionally, Throo, and Fivg. Brick Alley, as well a5 Two Long Alley were deep
cleaned 6 long alley was redecoraled and flooring rgplaced.
Qulnquonnl•l Work
Extensive qulnquennlal work was comploled durSng tho y9ar, including slgnilicanl repair8 al Tomkins,
Twltty's. Sl John's, and Long Alley. Irnportanl repairs and adjuslmenls w8r8 also made to the 81alned
glass wlndows al Long Alley, ensuring their longevlly and aesthetic value.
Flood Managgment
In S8pl6mbei, heavy rains Gaused Iloodlng at Long Alley, necessilaling emergency pumplng and
sandbagglng. Contlnuous monliorlng ot rlvor 1ov•ls has bgan insliluted to help pravgnl such
occurrences In the future.
R•gular MASntenance Actlvltlol
Scheduled maSnlenance acllvllies, such as legionella and water temperalurg lgsllng, boilgr $grvi¢lng
and repalr8, emèrgency lighting, and portable appliance testing, wero carriod out throughout th8 year.
Our thirty-two almshousgs and ollicès r9quir8 constant all8nlion lo minor laulls and accidgnlal
damage. The permanent appoinlmgnl ol a Park Ke0￿rIHandYMan earlier Ihls year has signillcanlly
irnproved tha tirnaly axecution ol minor rap*rs, ensuring our resldenls, safely and comfort.
Flr• and Socurfty m￿sUrel
Fire alarms were triggered wnulliple lirnes across different locations, often du8 lo cooking Incidents,
resulllng In flre brlgade attendance in some ca$85. Additlonally, security sorvicos were ¢alled lo
investigate pèrsonal alarm activations, which were eilher Med￿al emergenoies or accidental Irigggrs.
Minlmal Issues were rÈportÈd with iNruder alarms, wtth only a18w false alarms.
Concluslon and Future Outlook
The Governors r&maln commltted to the careful slewardshlp of the Charlty's resources, gnsurlng the
preservation ol our ass81s whilo priorilising the safgly and well-bging of our Tesidenls. Through diligonl
maintenance alld slralegic imwovements, we strive to uphold the intègrity and h8ritag8 Df our èslal8.
Looking forward. the Govemors will continue to focus on both preseNing the historical significance ol
our eslale and enhancing living wndilions lor our residents. Wo wlll remain vlgilanl In our efforts to
addrass any chall8ngas p¥omplly, onsuring that our gslale remains a sale, welcoming, and woll-
mainlained environmgnl lor all.
Page 9

CHRIST'S HOSPITAL OF ABINGDON
REPORT OF THE GOVERNORS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
S. HNANCIAL REVIEW
Our Auditors agreed that a professional revaluation was not necessary unlll 2026 therefore the
Governor in Chargg ol Proparty, Mr S J Meconnell conducted a rèvlew with their agreement lo as$95S
th8 current value ol all Commerclal and R8SKlenlial Property and Ihg Land. This rgsultsd in an incr@ase
in valu8 of £130,575 from the prevlous year. Profèssional valuations ol inv8slmenl prop8rti$s wlll lako
place no less than evèry 3 years. In the intervening years the Governor in Charge ol Property, uslng
his considerable knowledge and experienc8, will undertake a review ol v￿LIeS. From this revièw the
Governors will decide if a formal, prolessiond valuation 18 then necessary.
I transactions were deomed lo bo in the normal course ol buslness and Ihg Governors consider the
Charity to be a 'golng conc8rn'.
Carelul and ¢onservatSv8 forecasts and budgets for the next year arè prapar￿ by thè Cl¢rt( and
Governors in Charge each November and reviewed at the December meeilng ol all Governors. The
Charity's Governors (Trusleesl feel Ihal 11 Is as woll plaeod as it can be to mg91 significant
relsjrbishment costs In the lulure. The nèt surplus for the yoar was £991,44812023.' surplus £364,367).
5.1 Inve$tm•nt polley
The management ol the Charity's investment portfolio Is conduetsd by professional Investment
managers under discretionary managernenl powers delegated by Ihe Governors, under broad
guidellnes sel by th8 Governors. Thase guidellnes havo btsgn revlgwed during lh9 y9ar and currently
requirg that Ihg managers proteel th& value ol the cap1tal and inGomg ol thg Gharily in real terms over
the medlum term by seeklng a balancèd r8turn income and capital growth, avoiding 8leval8d
rlsk. Al any onè lirne, tho porllolios may comprlse fixed ￿nterest and equity investments wllhin thesè
¢Tileria. Portfolio exposuro lo equilos is limited lo 900/4 ol the lolal fund value. In the avoidance ol high
rtsk, the rnanaggrs arg Inslruclgd nol lo involv8 the Charity in derivalives Iradlng, underwriknng or oll.
market Iransa¢ligns. Whero nocossary, thg allocallon ol Income and capllal Is apportloned according to
lh9 tigures at th8 start ol the year.
The Governors conllnue lo monllor administrativ• eosls and lees. The Governor8 are conlenl that they
are continuing lo avoid high risks. The Ggvernors resgrve Ihg rlght to exclude companles thai carry out
activities contrary lo thelr aims or from holding Invastm8nis whi¢h might damage tho Charlly'3
repulatlon. Thls policy is reviewed with Ihg inveslmonl company during thelr annual report lo the
Governors, usually in tho May Govornors, mggllng.
In order lo measurg our performance, we revlew the total tund return agalnst a ban¢hmark fund Telurn
ol slmilar risk status.
As r8portgd above a detailed rèport by the Investment managers is delivered in person lo a lull meellng
ol the Gov8rnor5 at least annually. The entire area ramains under tha conllnuing scrutlny ol the
Governors and the Governor responsiblè ltsr Finance in pursuit ol the risk control as outlined above.
The portfolio on 31st D￿ember 2024 was £16,774,841 12023.. £15,626,8411. The Investm8nls mad8 a
revaluation galn of £1,184,551 12023.. £860,386 gain). During 2017 tho Governors look the de¢ision lo
sub4ivide the Main Fund into Gapil81 and Income goneraling sub-sections lo b&tter leverage the asset
lo meet the ongoing costs. An agrg8m8nt was made by the Governors lo sgt up a separate Fixed
Intergst Fund16.5MI to generate income lor grants, this will be sel up by Irwestec in January 2025
Page 10

CHRIST'S HOSPITAL OF ABINGDON
REPORT OF THE GOVERNORS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5.2 Reserves Pollcy
Christ's Hospilal has historically financed rts operations through income derived from ils endDwrngnt
inveslm8nts. In recent years it has also rèceivod maintonance contributions from almshouse residents.
Due to the limitad area ol benefit. Governors have dgcided it is not practicable lo seek donaliolls or
ban8laclors tsn a signilieanl lav&l. 11 musl btr noted that the inslabilily in world markets as a result ol the
war in Ukraino and Iho confli¢l in l$raol and the Occupiod Palestinian Territories has lad lo a significant
rise in inflation.
As such Governors realis8 endowment alone is insuffieiènl lo provide enough income. 11 has beGome
n8c8ssary lo rnainlain a lev81 ol r8soThes lo tlnance fulurg operations in the long term. Thgy believe that
total assals ol around £20 million ale required under currtnl condition8. 11 is therelorg the intention of
Christ's Hospit￿ lo try lo maintain investment a88813 al this lavèl. The level wlll be Tgviewed as
circumstances change.
Total ILJnds hèld by thè Charlly at the y8ar-6nd sl¢xJd al £24,545,15912023.' £23,553.7111- The Charity's
unr8slricl8d funds, 8xcluding designations and unrestricted lixad assats, stood al £9.730,018 12023..
£9,145,682) al the ye￿.8nd.11 the marf(el value ol listèd invaslmènls that arè held lo ggnerale incomè lo
support th8 Charity's activities is excluded from th8 abov8 sum. th8 r8rnaining free reserves ar8 negaliv
£11,14412023'. £339,857 positivel.
Freo reserves are held lor the following reasons..
al There Is a sSgnilicanl cost to malntaining Llsled buildlngs ol which the charlty has 6ighl sèts
Inolgd undgr 'gstates'l plus a Listed ViclorSan Park (Albert Parkl. Whll81 investment monlts are
pul asid9 In rgslriclgd funds lor the upkeep ol the Almshouses and 8merg8ncy use. il Ss unknown
whon an gmerggncy may occur and whglher11 will be covered by available deslgnalèd funds.
Repairs lo agging Listed buildings arg increasSngly complex and costly.
bl 11 Is anllcipaled Ihal th¢ Con$6rvall¢n ar¢a alroady in 9xis1gncg around Albert Park may be
expanded. Thls may bring additional expgn$e and Ihg nged lor spoclallst conlraclors, expertise
a5 th8 Charity strives lo manlain, lo a highgr ¥landard, Ihg ngwly deslgnaled dwelllngs which rt
owns in the surrounding area,
ol C¢nsld8ralions are lo be mad8 shortly ag lo the future ol cerlaln leasghold propfyrtles which
rgvert lo Christ'8 Hospital control in 2037. Ther8 may be signiliranl inveslmgnl needgd lo bring
them lo an acceptabl& modern 8tarKlard.
dl thg charity like to have th9 capacity lo spend on grants ov&r and above tha budg&ted lev61, whilst
still mainlalnlng th8 rallo for allocation ol expendllure r8quir8d by the Charity Scheme i.e.
oxpgndilur8 on grants cannol curr8ritly ba grea19r than that on almshouses.
Page11

CHRIST'S HOSPITAL OF ABINGDON
REPORT OF THE GOVERNORS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
6. FUNDS
In addition lo the unrestricled funds, which represent accumulated income available lo the Govemors
for such purposes a$ they may decide, the lund8 controlled by the Governors lall into a numbgr of
classes..
6.1 Perman8nt andowmanl fvnd$
Thesg funds represent ass&ts which are pemianenl Gapltal held by the Governors. The property wllhln
these funds comprlses..
Freehold land and bulldlngs hèld lor the Charities, own use.
Fr88hold land and buildings h8ld lor charilable purposes, InGluding almshouses and Albert
Park
Investments In Ilsled sè¢uriiles and rèal estate.
Two further funds have been created by orders ol th8 Charlty Commlssioners made on 21 August and
13 08cember 1984 to recoup endowmgnl monies spent on the Albert Park service area and In
conno¢lion with Mullard (Ablngdonl Housing Trust, respectivoly.
6.2 088lgnaled lund
Exlrnordlnary Rgpalr Fund- Thls lund has been sel up by Ihts Governors In respons8 lo Ihg Almshouso
Association's guidan¢o lo have a fund lor each group ol almshousas Ic provide lor Ihe co81 01
8xlraordlnary ropairs, Improvomonls or buildlng ol thè Charity's Almshouses. The deslgnalgd fund
balancg at the ygar- gnd was £632,69212023.' £580,733) por Ntsio 14.
6.3 R•strlet•d fund$
Thesè lund5 represent Incomo and olhor assots whlch may b8 appll¢d only lor speclllgd purposes.
These amount to £1,597,00912023.' £1,446,758) p¢r Notè 15.
The Charlly of John Blaeknall Church branch
Income payable lo the incumbent and ¢hur¢hwardens ol the Parlsh ol St Nlcolas applicable to iho
malntenance ol the Church ol St Nlcolas, Abingdon.
The Charlty ol Rlchard Wrlggl8SWOrth Edueatlon bran¢h
Funds avallable to asslsl wllh the educatlon of Indlvidu21s U1￿¢r Ihg age 0125 by wsy of exhibltion, grant
or towards preparlng them lor entry into a trade.
Almshou¥e branches
Funds lor Ihe provislon and malnt8nance ofalmshous8s and thelrresldents.
Aellpl In Need branches
Funds ar8 avai18ble lo support people in conditlons of need, hardshlp or dlslrass either IndAv￿Ua1IY or
gen8r811y.
Extraordlnary repalr funds
Funds createdln response lo ordgrs of th8 Gharity Gonprnlssloners lo provldg for the cost ol extraordlnary
repairs, inFprovements or bullding of the Charities'aln7shouses and oth8rproperty-
Page12

## **CHRIST'S HOSPITAL OF ABINGDON REPORT OF THE GOVERNORS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** 

## **7. PLANS FOR THE FUTURE** 

The Governors will continue to comply with the requirements of the Charity's Scheme to provide almshouse accommodation, relief in need, educational support and the provision and maintenance of Albert Park. The Governors remain committed to their policies of maintaining the Charity's assets and particularly the historic nature of many of the buildings. In refurbishing the almshouses to first-rate standards, consideration is being given to the increased expectations of potential residents. The Charity is committed to making positive improvements to the condition of Albert Park and the park's workstation building, much has already been achieved. 

The Governors are committed to changing the status of the charity from an unincorporated association to a Company Limited by Guarantee The Charity has supported people in the area of benefit for 470 years and it is the Governors' firm intention that this should be continued for the foreseeable future. They are taking active measures to ensure that the relevant local people are aware of the help Christ's Hospital can offer and that the size of grants offered has increased where appropriate and justified. The Governors are committed to the objective of providing charitable support to residents of the town of Abingdon -on-Thames in Oxfordshire for an indefinite period. Fundamental to the achievement of this objective is the maintenance of an effective system of corporate governance. This is concerned with the direction and control of the organisation and, in particular, with the role of Governors and the need to ensure an effective framework of accountability and risk management. 

This report was approved by the Governors on 3 April 2025 and signed on their behalf by: 


## **Mr C E Birks - Master** 

Page 13 



CHRIST'S HosprrAL OF ABINGDON
STATEMEKf OF GOVERNORS RESPONSIBILMES
FOR THE YEAR ENDED 31 DECEMBER 2024
The Gov&rnoTs are responsible lor preparing Ihe Govemors, Report and tho Ilnanclal slalernenls in
accordance with applicablo law and United Kingdom Generally Accopled Accounllng Practlce Iuniled
KingdDrn Accounllng Slandardsl.
The law applleablè tts charlUes Sn England and Wales requlres the Governors lo prepare flnanc5al
slalements lor each flnonclal ygar whlch givè a trug and lair view ol th8 Slatè ol allairs ol the charlty and
ol thè incoming resources and awllcatlon ol resources ol the charlty lor that perlod. In proparlng thèse
1Snan¢lal slalemonls, tho Govornors arg required lo..
801oCt sullabl8 accountlng polk￿8 and then apply thgm conslslentty,.
obsorvg th9 molhods and ￿1r￿￿)lOS in thg Charities SORP,.
make judgments and gslimales Ihat are reasonable and pnjdent.,
slale whether applica￿• attounling slandards have been lollowgd. 8th4ect lo any material departuros
dls¢losgd and explalned in the Ilnanci￿ statements;
prepare the Ilnancial slalements on the going concern basis unless il 1$ inapprowlale lo wesume that
the chwlly wlll conlinuo In t￿Siness.
The Governors are responslblt lor kgeping adequate ac¢ounNng rocords that are gufliclènt lo show and
explain the charlty's Iransacllons, dlsclose ￿1￿ reasonable a￿UraCY al any Ilmo thè financlal position ol
thè charily and enable Ih8m 10 ensure that the financial statements comply wllh the Charilles Act 2011,
the Charllles (Accoun18 and Reportsl Regulations 2008 and tho provlslons ol the Chority'$ conslilulion.
They are also responslble lof safeguarding the as$els ol Ihe Charity and h8noe lor taking reasonable
slops Ic*r the prevanllon and deltscllon of fraud and olhor Irrggularllles.
Pag8 14

Crowe
Crow•V.K. LLP
thLrrteredAccountants
Memberolcruwe Gbbal
2 B14gr)ve Stiett
Readlng
aerkshlre RGI IAi UK
Tel 444101118959 7222
F&¥ +44101118 958 4640
www.crowe.co.uk
INDEPENDENT AUDITOR'S REPORT
TO THE GOVERNORS OF CHRIST'S HOSPITAL OF ABINGDON
Oplnlon
We have audited th8 1Snan¢lal 8tatem8nls ol Christ's Hospilal ol Abingdon lor the y8ar end8d 31
Dècembèr 2024 whieh eompriso the Statèmént of Financial Activitiès, thè Balancè Shèol. thè Cash
Flow Slalement and notes 19 Ihe Ilnancial slalgments, including a summary of signillcanl aocounling
policias. Tha financial raporting Iramèwork that has bgen appll8d in Iheir prèparatitsn is aprAieablè law
and Unlled Kingdom Accounting Standards, including Financial Roporling Standard 102 The Financial
Fleporting Standard applicable In the UK and Republic ol Ireland (United Klngdorn Generalty Accepled
Accounting Piacllcel.
In our oplnlon th¢ linanGlal ¥tatem¢nls'.
give a true and lalr view ol the slate ol the charlty's allalrs as al 31 December 2024 and ol Ils
Incomlng resourc¢s and appll¢alion ol rgsourcgs, lor the year then ended.,
hav8 been proparly prepared Sn accordanc8 wlth United Klngdom Generally Accepted
AccounlSng Pracllce; and
havo b99n propar9d in aocordanco with Ihg r8quirem8nls of th8 Charitigs Act 2011.
BA•1$ lor oplnlon
We conducted our audit In accordance wllh Inlernallonal Standards on Audlilng IUKI IISA5 IUKII and
spplicable law. Our re8ponsibilili8s under those standards are further described in the Auditor's
resptsnslbllilles lor the aL¢dll ol the Ilnancial slalemenls secllon ol our report. We are independent ol
the chwlly In accordanco with the 8thical requiremonls that are relevant lo our audit ol the financial
statements in the UK, Including the FRC'S Elhlcal SlandarL1, and we have fu1fllSed our other elhlcal
rgsponsibililiés in accordancg with Ihèso requirèm8nls. Wo bèlièvè that th8 audit 8videncè we have
obtained is sufficient and appropriate to provide a basis lor our opinion.
Conclu¥lon¥ rolatlng lo golng ¢oncorn
We have nothing lo rgport in rospe¢l ol thg followng mattgrs in rolalion lo whiGh Iho ISAS IUK} require
us lo report lo you where..
In auditing the financial stalemgnts, we have concludgd that Ihg 13ovgrnors' use ol the going concern
basls ol accounllng In the preparalSon of the fSnanclal stslements is approprlale.
Based on the WO￿ we have performed, we have not identified any material uncertainties relating lo
events or condllions Ihal, individually or collgcllv¢ly, may casl slgnlll¢ant doubl on the ¢harily's abilrty
lo continue as a going concern lor a period ol al least Nvèlve months Irom whgn the linanclal
statements are aulhorised fLif issue.
Our responsibilities and the responslbllliles ol the governors wlth respect io golng co￿ern are
described in the relevant sections ul Ihis report.
UK. LLP ￿ a I￿￿111￿ WlwÉThlp ￿￿1￿1￿￿d In En￿￿￿ Jid wlm OC307Q43 Thé oliCO LS al $5 LLogÈlè Hll. LcrfKlr*i
EC4M 7JVI. A IIGI(rf lh• LLP'8 mwnbqTS Is a¥alabbw al ro91slir•doMk•. Al an5d¥MGy war111￿ryI1S In tho Iirrn at• lh4 UKby PIR¢11￿
LLPar* IL% ￿&r15￿g￿l￿￿yyjO1￿￿weSlobal￿£nyo￿¥rnP￿bEr0lfrry￿eLl￿.
Page 15

Crowe
INDEPENDENT AUDITOR'S REPORT
TO THE GOVERNORS OF CHRIST'S HOSPITAL OF ABINGDON
Other Inlormatlon
The Governors aro rpsponsible lor the other Informallon. The other inlormalion comprises the Inlormatlon
included in the annual report, oth81 than the finan¢ial slalomenls and our auditor's report thereon. Our
opinion on the financlal statements doès nol cover Ihe other information and we do nol express any form
ol a88urance conclusign Ihereon.
Our r&sponsibillty Is to read the other Inlormalion and, in doing 80, consider whether Ihe other inlormalion
is malorla11y Inconsistent with the linanclal slalem8nls or our knowledge obtained in the audit or
olherwisg appears lo be materially misslaled. If we idanlily such malgrial inconsl8lencles or apparent
rnalerial misslatem6nls, we are requlred lo d91ermine whether Ihls glves rise lo a matèrial misstatement
in the financial slalemenls themsélvès. 11, basgd on the work we have pèrformed, we ¢onGludg that there
Is a material misslalémenl ol Ihls other Inlormallon, we are requlred to report that la¢l.
We have nothlng lo report In thi5 regard.
Mattor¥ on whlch we arg requlred to r•port by 8xcèptlon
In light ol the knowledge and undèrstanding ol the Charlty And Ihelr 8nvlronrnent obtained In the course
ol the audll, wè have nol Idenllied malerlal misslalemenis In the Gov8rnors' rèport.
We have nolhlng lo report In r?speGI ol Ihe following matters In relallon lo which the Charities act
requlres us lo roport lo you il, In our oplnlon..
adaqLtale and prop$r accounllng records hav¢ nol btren kept., or
th& linan¢ial slalemenls arg nol In agrogmenl wilh the accounllng records and returns., or
certain d18closura$ ol Governors, remuneration specllled by law are not mado., or
W8 have not rgGeSved all Ihe information and explanallon8 W8 requir9 lor our audlt.
Responslblllll?• of Governors
As gxplaln9d more lully in the Governors, responsibilitlès siatèm8nl sel out on page 13. the Governors
are responsible lor Ihe preparatSon ol the financial slalemenls and lor being satisfied that Ihey glv8 a tru8
and lair vlew. and lor such internal control as the Governors determine 18 necessary lo gnablo Ihg
pr&parallon ol flnancial slalements that ara free from materlal mlsslalemenl. whether due lo Iraud or
error.
In preparing th8 linancial slalemgnls, the Governors are responsible lor assassing the charlly's abiliiy to
onlinue as a going concern, discloslng, as applicable. matters ralalgd lo going concern arKI using the
going concern basis ol accounting unless the Governors either inlend lo liquidate tha charlty or lo cease
opgralions. or havg no reallstlc afternatlve bul lo dtr so.
Page 16

Crowe
INDEPENDENT AUDITOR'S REPORT
TO THE GOVERNORS OF CHRIST'S HOSPITAL OF ABINGDON
Audllor'g respon3lblllllos the audlt ot lh8 flnanclal ¥latomont$
We have been appolnled as auditor under se¢tion 144 of thg Charllles Act 2011 and report in
accordance with the Act and relevant regulations made Of having g11oct th&rourKler.
Our objectives are to obtain reastsnablè assuranc8 about whalher the Ilnanclal slalemenls as a whole are
free Irom malerial misslatemenl, whelhor due lo fraud or error, and to IS8ue an auditor's report that
includes our opinion. Rgasonab18 assurance is a high levèl ol assurance, but is not a gU￿antee that an
audit conducted In accordance with ISAS IUKI will always dolect a malerlal mlsstatgmonl when it exists.
Jisstalernènls can arise from fraud or error and ara CDnsid8r8d malarial il. indlvidually or in the
aggr8gate, they could reasonably be expected lo Influence the economic decisions of users taken on thè
basis ol these financial staternants.
Details ol the exl8nt lo whlch the audll was Gon$Sdered rapabla ol d&l8cling Irregularities, Including fraud
and non-compliance with laws and regvlalion5, are 581 out below.
A further de8cilpllon ol our responsibilltles lor the audlt of the linanclal slalèmenls Is located on the
Financlal Reportlng Council's webslle al.. w
Th1$ descripllon forms
parl ol our audltor'8 reF)Ort.
E¥tgnt to whl¢h lh• •udlt wa8 consld•r•d copabl• of dotectlng Irregulorltl•s, Includlng ITuud
Irrogularlllgs, inGludlng fraud, are instances ol non-compliance with laws and regulailonÈ. Wè idèntilled
and assess8d the risks ol malerlal mlsslalamenl ol the financial 81algmonls from irr9gularlt19s, whglher
duo lo fraud or grror, and dlscussed these bètwoèn our audll team members. We then designod and
pertormed audit procedures responsivg lo thos¢ risks, In¢ludlng oblalning audli evldence sulllclenl and
appropriate lo prlivide a basls lor our opinion.
We oblalned an ￿￿lerstandIng of the legal and regulatory fram¢work5 wlthin which th8 Charity operates,
locuslng on those laws and regulatlons ihat have a direct gtlect on the delermlnatlon ol material amounts
and disclosures in the financial slalemonls. Thg laws and rggulalions wa considered in Ihls eonlexl lor
the ¢harlty W&Tg thè Charllles Acl 2011, together with the CharSlles SQRP IFRS10212019. We assessed
th9 requirgd compliance wllh these laws and reoulalions as parl ol our audll proc8dur85 on Ihg rèlatèd
linanelal slalements.
In addition, wg considered provlsions ol other laws and r8gulallon8 that do not have a dlrecl 9ffecl on the
financial slal8ments bul compliance with which mi9ht be fundamental lo the charity's ability to operate or
lo avoid a material penalty. Wg also considered thè opportunllles and Incenllves that may exist wilhin the
Charfty lor traud. The laws and regulations we considered in Ihls conloxl for the Charity were Charity
Commission regulations, Gen8rd Data Protection Regulation IGOPRI and Health and Safely regulations.
Auditing standards limit the required audit procgdures lo identify non-compliancè with thèse laws and
regulations to enqulry ol Ihe Governors and oth•r management and inspection ol regulatory and legal
correspondence, if any.
We Idènlilled the greatest rlsk ol material Impacl on the linanGial statements from irTegularilies. Including
fraud, to be within the overrlde ol controls by management. Our audlt procedures to respond lo these
risks included anquirits ol vnanag8ment, and the Financg Govgynor about Ihoir own identification and
assossmenl ol the risks ol irregularities, sample testing on the posting ol journals, revi8wing accounting
astimat8s lor biases and reading minutes ol meetings ol those charged with govornancg.
Page 17

## **Crowe** 

## **INDEPENDENT AUDITOR'S REPORT TO THE GOVERNORS OF CHRIST'S HOSPITAL OF ABINGDON** 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non­ compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. 

## **Use of our report** 

This report is made solely to the charity's Governors, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's governors those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's governors as a body, for our audit work, for this report, or for the opinions we have formed. 


**Crowe U.K. LLP** Statutory Auditor **Reading** 

## **Date: 1 May 2025** 

Page 18 



CHRIST'S HOSPITAL OF ABINGDON
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Note
Unre8trlcted
Fund8
Regtrlcted Endowment
Fundg
Fund9
Total
2024
Total
2Q23
Ineomo #nd 6ndowrngnt8
from:
Donation8
Investrnants
CharltatAe actlvitles
- c¢ntrlLMrtions from Alm$pè0￿o
4,100
64132
4,100
717.103
4,100
717.717
645,856
6.715
221.057
221,057
215,868
Other
Total Income and
•ndowm•nts
Exp•ndltur• on:
Ralslng funds
Charltablo acllvfti•s
Grants payabla
Provlslon ol Alrnshouses
Albort Park rnainlenanc
47,S2e
1359
142,150
198,035
191,756
466,090
402.569
18,241
59.922
484,331
462,491
532,777
420,954
Totsl •xpondltuM
Nel galn$ll108sI on Inveslrnen18
1 gurpluslld•fl¢iil
Translgrs between lunds
14
Not mov•m•nt In lund*
584,358
150,251
256,841
991,448
364,367
Total lunds broughl lorwArd
Total lundo car￿•d lorword
Thè notes on pages 22 10 38 loim part ol these linarKial statement5
Paga 19

CHRIST'S HOSPITAL OF ABINGDON
BALANCE SHEET
FOR THE YEAR ENDED 31 DECEMBER 2024
Notes
2024
2023
FIXEO ASSETS
Tangible assets
Investment propertles
Investments
35.195
7,113,575
16774841
41.486
6,983,QOO
23,923,611
22.650,327
CURRENT ASSETS:
Deblors
Cash al bank and in hand
10
183,890
70
132,512
887,668
1,130,559
LIABILITIES:
Cfeditor8.' Amount8 lailing due within
one year
NET CURRENT ASSETS
903
TOTAL NET ASSETS
THE FUNDS OF THE CHARrri:
Unre8lrlct8d lunda
Gèneral
Designated
14
14
9,097.326
632 692
8,584,929
9,730,018
9, 145,662
Ro8trlcted funds
15
1,597,009
1,446,758
Endowm¢nt lund•
16
296129
TOTAL FUNDS
17
Approved and aulhorlsed lor issue by the Govgrnors on
IILIIL
and signed on their behalf by
Mr C Birks- Mastèr
&4U
hlr K W Senior
ovornor
Thg notes on pages 22 10 38 form part ol theso linancid statements
Page 20

CHRIST'S HOSPITAL OF ABINGDON
CASHFLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Net cash used In operatlng acllvlllos (seè bèlow)
11,044,702)
(926.624)
Cash flows Irom Invostlng actlvllles
Interest, dlvldends and rents from lrtvestm8nts
Purchase ol plant and equipment
Purchase ol lurnlture and equipment
Proceeds from sal& of Investments
Purchase of investments
717,103
717,777
{2,220)
14.007,690
(24,797)
4,626,583
Not M¥h provldod byl (u¥8d In) by Invgsilng •¢tivltlgs
770,802
{2,059)
Chango In ¢A$h ond ¢a$h •qulvalonts In lh• yoar
1273,9001
(928,683)
Cash and cash equlvalenl brought forward
Cash and ¢ash oqulvolfjnlg coril•d lorward
Net Income for the roportlng porlod {•$ por th¢
fjtatemont of Ilnanelal actlvltl•#l
991,448
364,367
Depreclallon charges
Dividends, Inleresl and rents from Investmen18
(Gainllloss on Investments
Ilncreaselldecrease in debtors
Increasglldecreasel In credllorg
8,511
717,1031
{1,315,126)
151,37n
4.819
(717,717)
(663,386)
14,988
Not cAJh usod In oporatlng acllviilos
11,044,702)
(926,824)
2024
2023
Cash awaiting investment wlth Invgslmonl managers
Cash in hand
Notice deposits (less Ihan three mgnlhsl
86,880
504,638
66,511
537,547
Total cash and cash ￿ul¥al*nt5 (Not• 18 & 19>
Th* notès on pagès 22 to 38 lorm part ol these financi￿ slalamenls
Pagg 21

CHRIST'S HOSPITAL OF ABINGDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
AccouMnNG POLICIES
Aeeountlng convenllon
The accounts Ilinancial slalemenlsl have been prepared in accordance with tho Aceounlng and
Reporting by Charities.. Slalemenl ol Recommended Praeti¢8 ISORPI in aceordancB wlth the
Flnancial Reporting Slandaid appllcable In the UK and Républic ol Irèland IFRS1021 issued in
October 2019 and the Financlal Reporting Standard aPpI￿abl8 in the Unilod Kingdom and
Republic ol Ireland IFRS102I and the Charllles Act 201 t and UK Generally Accoplod Practice as
11 applies from 1 January 2019.
Chrlsl's Hospital ol Abingdon meets th8 delinlllon ol a publlc b8n8fil entity under FRS102. Assets
and liabilities are initially rocognised al hlslorlcal cost or Iransaclion valuo unlèss olherwisg
slatgd in the rolevanl accounting policy nolel51.
Christ's Hospllal ol Ablngdon is a charlty reglstorod in th8 UK Icharlty number 2051121 with Ils
ragistered office al 4 Sl Helens Wharf, Wharf Road, Ablngdon, Oxlordshiro. OX14 SEN.
bl
Qolng Concern
Tho Governors ¢onsld9r that there arg sulflcl8nl r8s&rv&s held ai the yea1.end lo rnanage any
I￿e$eeable downturn in the UK and global economy. Thg Governors consider there are no
maieriai uncgrlainlies relating lo going concarn and Gonllnue lo adopt the going concarn basis,
meanin9 the Charity has adequate resoureès to contlnue its acllvilies lor al Igasl the twelve
months from the slgnlng ol th9sft accounts.
Income
Dlvidends and rents are a¢¢ountod lor In the year to whlch thèy relat8.
Legacles and voluntary Incom& ar0 accounted Icr In the year In whlch Ihay ar8 rgcglved.
d)
Expendlture
Grants awarded by the Govèrnors ara racognls8d In tho slalemenl ol Ilnan¢lal aciiviile8 In ihe
porlod that they are made le the extant that alggal or conslrucllve obligation exists.
Almshou808 and Almspeople eosls are atcountod lor on an accruals basls In the year lo wfvich
they rolalo.
Pension c03ts charged in the SOFA rgpresenl conlrlbutlons payable by th9 oharlly in that year.
Included within charilablg activities are governanc8 costs, whieh comprlsg the costs ol running
the Charity, including slraleglc planning lor ils future developmgnl, also internal and external
audit, any Iggal advic8 lor the Charty and all th¢ costs ol complylng wSlh constilulional and
slatulory r8qulremenls.
Support costs are allocated on the basls of tlm8 SP8nl115V. Grants Payable, 75Y. Provision ol
Almshouses, and 1 OV. Albert Park Mainlonan¢el.
Page 22

CHRIST'S HOSPITAL OF ABINGDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES {COfrtnNUED)
Granl maklng
The charity's granl-making process is informed by the bost praGli¢es ol peer organisations, and
the Charity Commlssion's guid81ines and recommendations.
Grants payablg are payments made to Ihlrd par￿8$ the furtherance ol the charltable objects of
the charity. In the cas8 ol an unconditional grant offgr (his is accrued once the ieciFi8nl has be8n
nolilied ol the grant award. The nolillcallon glves the reclplenl a reasonable expeciaiion Ihal thèy
will receiva tho ona-yèar or mulli-ygar grant.
Grants awards that ar8 subjacl lo 1*8 r8CIPlgnl fulfilling pgrlorrnance condillons aré only accrued
when the recipient has been nolilied ol the grant and any remaining unlullllled condltSon attachlng
lo that grant is outside ol the control ol th& Trust.
Fra8hold Itnd and bullding$
Freehold18nd and buildings hèld for Ihg Charity's use are included on the balance sheet al cosl.
The buildings ar8 doprèciatèd ovèr 50 yaars on a straight line basis.
The Charity owns ¢arlain Iix9d assets which are historic, inalienable and form parl ol the
permanènt ondowment, Ihg rno18 lrnportanl of which ar9 listed in tho R9POrt ol the Qovernors.
No r&lSable cost inlornalion is availabla lor th9$9 assgls and th91r heritage nature means
conv8nllonal valLsallon procèdurès would b9 unreliab19. Thg Governors have no Snlenlion lo
dlspose ol Ih8s8 assèts in thè forèsèèable lulur9.
gl
Oth•r t8nglbl• flxgd #$$ot$
Furnituro and èquipmgnl arg capltalls9d wh9n considered approprlale and depreciallon Is
Calculat￿ to writg off the cost ov9r th8 gxpe¢led usglul Ilves ol the assets concerned. A de-
mlnlmus Capitalisation limit ol t1,000 Is applied. The Idlowlng ralgs and baggs have been used..
Olllce lurnllure, Ilxtures and Ilttlng8
Office equipment
Park equlpment
20Q/r* Straight lin9 bas5$
259/0 straight lin9 bas58
25Vo slralghl lina basis
h)
Flxed asset Inve8tment propertles
Investment properties are Included in the balance sheet al lalr value. The Governors obtain an
indep&ndenl V￿UatIon al least every three years. Reallsed gains and losses on invéstment
propgrties arg included in the Statement ol Financlal ACtI￿t￿es.
Flxgd a5￿t Invoslmgnt3
Re￿iSed gain8 and losses on investments are calculated as the dlfference belween sales
prweedg and Ihoir opening carrying value or Ihelr purchase value If acquired subsequent lo the
first day ol the linancial ygar. Unrealised gains and losses are calculated a8 the dlller8nce
between the lair value al the year end and their caNying valuo.
Realised gains and losses on inveslmenls are Includ8d In the Statement ol Financlal Acllvltles.
Investment income is recognised in the financial ytslemenls on an accruals basis when Ihe
oharity becomes legdly &nlidod lo it. Invesbnenl income not dlre¢lly attrlbutable to a speclflc fund
is apportioned lo the various funds based Dn tholr tspenlng balanca position.
Cash at bank and In hand
Cash al bank and cash In hand Includes cash and short term highly liquid investmenls with a
short malurily 013 months or less from the dal8 ol acqulsltlon or opening ol the deposit oi simllar
account.
Page 23

CHRIST'S HOSPITAL OF ABINGDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES {cowllNUED)
k)
Debtor¥
Trade and other debtors are recognls8d al the selllement amount due aller any trade dlscounl
offered. PTepaymenls are valuèd al thè amount prepaid nel ot any trade dlscounts due.
Cr•dltor$ and Provlslon8
Creditors and provisions are recognised ￿ere the charlly has a present obligation resulling from
a past event that will probably result in the Iransler ol funds to a third party and Ihe amount due
lo settle the obligation can be measured or estlmaied rèliably. Creditors and provisions are
normally recogni88d al thèir settlement amount aller allowing lor any Irade discounts du6.
Flnanclal In8trument$
The chalily only has linanclal assets and flnanclal Ilabilillgs ol a kind that qualify as basl
financial inslrumenls. Basic financial Instruments are Inliially r8cognised al transaction value and
subsequently measured al their selllement value.
Leasa8
In respect ol operating leases lor which the charlly Is the lèssor, the charlty classlliès the leasSng
ol the investment properties as an operatSng lease. Tha rents received Irom invéslmènl
propertles arè récogni5ed In the ISnancial stalemenls lor the pgriod they relate lo.
In respect ol operatlng loases lor which the charlty 1$ lh6 lessee, rentals ar8 charged lo the
Slalemenl ol Flnancial Aclivllles on a slraSght Ilne ba$1$ over lh¢ loas• lgrrn.
Funds
Unreslricled lunds
Genèral unrostriclgd funds rgprg88nl lunds whl¢h aro exp8ndable al the dl8cr81ion ol the
governors In furtherance ol the Ob￿0Cts ol the charlty.
Designatgd funds
Designalgd funds are amounts which hav9 been pul aside al the dlscraiion ol the Governors lor
spacili¢ purposes. Such purpose$ arg within the overall alms ol the organlsalion.
Restr￿ted Funds
Reslrlcled funds are those which musl be applled In accordance with tha purpose specllled
by the donor. ExpenditUTg f91aling lo thes8 pufpc*SeS is charged diroclly lo the lund.
Endowm8nt Funds
Endowmènt lunds consist ol inveslmonls. The purp059 to whlch Ihal Investment may bg awied
Is reslrlcted in a¢¢ordance with the terms ol the endowmont Irusl.
pl
Crltlcal o¢¢ountlng judgements and k•y sourcos ol 9Stlmatlon uncertalnty
Govèmors ara required to make judgements, OStirnat8s and assumptions about tho carrying
valuè ol assets and liabilities that are not readily apparènt from olhor sources. The oslimales
and undèrlying assumptions are based on hislDrical experf8nce and olhèf factors that are
considèrèd to be ra￿Vant. Actual rosulls may diller from thasa 8slirnale8.
The key sourc88 ol tstimalion unc9rtainty thal has a significant 8118cl on the amounts recognised
In the Ilnanclal statements is in respect ol thè investment prop8rty valuation. The charity's
Investment propertiés aro staled al their &slimaled lair value as disclosed in Note 8.
Page 24

CHRIST'S HOSPITAL OF ABINGDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
INCOME- DONATIONS
Unr¢slrlctod
Fund$
Raglricted
Funds
Total
2024
Total
2023
Albert Park ¢onlTibulion
INCOME- INVESTMENTS
Unr•strlct8d
Funds
R•strlet•d Endowmant
Funds
Funds
Total
2024
Total
2023
Equily dlvSdend$
and interesl
8ank Interest
Renis
318,334
64,532
6,715
389,581
396,259
44,469
44,469
30,372
TOTAL RESOURCES EXPENDED
2024
Dlrect
Costs
Staff D6proclatlon
coJl•
¢o$l*
Support
C¢$t$'
Total
2024
Total
2023
Co#t ol r4lslng lunds
Invoslmonl managgrslges"
Proporty costs
90,241
107794
90,241
86,921
124 875
198,035
191,796
198,035
Charftable acllvltl8a
Grants Payable INole 61
Provislon ol Almshousos
Ajberl Park maintenance
466,274
288,144
5,667
73,010
1,277
6,383
11,113
94,954
484.331
462,491
532,777
420,954
Total resources expended
Support costs Includèd wlthln
provlslon of Almghouge$
Audit
Ollicg salaries
Qllice Gosls
Profassional faes
Sundry
25,866
25.866
37,784
30.940
13.522
19,240
79,724
24,658
7,850
37,784
30,940
13,522
Support costs are allctaled on an estimat8 of Ilme sper¢l adminlsleilng th8 Almshouses. See Note Id
lor dètails.
Investsmenl management lees Include 5 quarters Ihls year (2023.. 4 quarters). Thls coNects a hlslor
limlng difference.
Pagg 25

CHRIST'S HOSPITAL OF ABINGDON
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
TOTAL RESOURCES EXPENDED {contlnued>
2023
Dir8ct
Gosls
Staff
costs
Depreciation
cosis
Supporl
costs
TDlal
2023
Total
2022
Cost olraising lunds
Investment manag8rs fees
Propgrty costs
66,921
124 875
66,921
69,621
191,796
191.796
359,S03
Charitable aclivits'es
Grants Payable (Nolg 6)
Provision of Almshouses
Albert Park malnignance
516,794
275,006
11,958
98, 729
723
3,614
3,302
43,605
532, 777
420.954
319,362
281, 175
Support costs Includ8d within provislon
oIAlmshou$es
Audit
Olfice salarl8s
Offic8 costs
Profess￿nal fe8S
Sundry
19,240
19,240
79,724
24,658
7,850
21,682
84,857
21,329
79,724
24,658
7,850
Pagg 26

CHRIST'S HOSPITAL OF ABINGDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
STAFF COSTS AND NUMBERS
Staff cost3 were as lollows'.-
2024
2023
Salaries and wages
Social securlty costs
Pension contributions
132,352
12,987
118,113
6,043
No employ&&s earned In excèss ol £60,00012023- nong).
The kèy management ￿rsonnel of the charlty comprisg the Govgrnors and Ihe Clark lo the
Govarnors. The lolal gmployee benefits ol the key management personnal Ilncludlng amployers
Nl and employers, pensionl of th& charity were £46,67312023.. £44,269). None ol the Governors
recgived any remuneration in the current or preceding year,
Durlng the year no {2023.. Non81 Governors were relmbursed expenses tor making purchases on
behalf ol the Alm$houstrs,
Th¢ average rnonlhly nurnber ol employees was a8 lollow8:_
No.
No.
Almshouses and Alm8people11 lull-tlmel
Albort Park11 parl-1lm81
Managem•nt and adminislralion12 lull.lim8, I part.Ilm81
The ¢harliy Gonirlbulos lo the personal pension schemes lor certaln ol Its employees. Tha
pension charge repr9sonls the amounts payablo by tho charity to the fund8 In resp6cl ol thè
year, £Nil amounts were oulslanding al the year 8nd12023.' £NII).
There were no redundancy payments made In the year f2023.' non•?.
Page 27

CHRIST'S HOSPITAL OF ABINGDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
GRANTS PAYABLE (Dlrgct cost)
Tol81
2024
Total
2023
Educatlonal
Charilable payments for nll (2023.. 5) indlviduals
Gharilable payments for 13 (2023.. 11) educational institutions
13,007
284,180
267,093
Rollgf
Gharilable payments lor 28 {2023.' 31) Individuals
Other social Inslllullons 22 (2023.. 27) insiilutions
28,624
31.092
170,535
236,876
John Blacknall Church branch
TANGIBLE FIXED ASSETS
Freehold
land and Furnltur• &
bulldlng$
èqulpment
Total
Cost
Al 1 January 2024
Additions
74,480
49,180
123.660
Al 31 December 2024
Depreclatlon
Al 1 January 2024
Charge lor the year
60, 180
21,994
82,174
Ai 310ecember 2024
Ngt book valu8$
Al 31 Dgoember 2024
At51 D8cemb8r2023
Pagg 28

CHRIST'S HOSPITAL OF ABINGDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
INVESTMENT PROPERTIES
2024
2023
Freehold land and bulldlng8
ValuatSon
Al l January 2024
Ravaluation
6,983,000
7,180,000
197000
Al 31 Decgmbor 2024
All prop8rties were valued as al 31 December 2023 by professional valuer5 In accordance with
the Appraisal and Valuation Manual issued by the Royal Inslilulion ol Chartered Surveyors on
the basis that the properties are held lor investment purposes. A lormal valuation ol the
investment propeilies is lo ￿ carri8d out every three years. In the years between formal
valuation th8 Govornors will as8888 the value ol Ihe investment Pro￿rtY,
Tothl
Commerclal
Resldentlal
Freehold land Ilèasod until 20251
Frèehold land I18asÈd until 20371
2,095,000
3,303,575
495,000
The charlty earns rental In¢ome by leasing Ils propgrties 10 lenanis undgr non.Gancgllable
operatlng leases. Leases in which subslanlially all risks and Tèwards ol ownershlp are retained
by another party. the lessor, are classified as operating leases. Paymenls, including
prepayments, made under operating lease3 Inel ol any incentives received from the lo$sorl ara
charged lo tho income 8talem&nl on a straight-line basis ovei the period ol the lease.
Al tho balance shoot dalo, Ihe charity had conlraclad with lenanl8 lo iecelve the followlng lulure
minimum lease payments..
2024
2023
NDI later than one year
Later than one year and not later than live years
Later than Ilve years
188,659
229,253
202,599
288.269
100 974
There are no contingent rents recognised as income.
Page 29

CHRIST'S HOSPITAL OF ABINGDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
INVESTMENTS
2024
2023
Market value at 1 January 2024
Additions
Disposals
Flevaluallon galns
15,559.329
14.003,965
13,951,771
5,321,562
114,007,690) (4,626,583)
860 386
Market value at 31 December 2024
Cash awaiting investment
18,687,961
15,559.330
Total AS at 31 Decernber 2024
'Hlstorlcal costs of invesltnenls al 31 Decembér 2024
The ygar-end mark81 value is made up as follows..
UK fixed Interest
UK èquities
Ovèrsèas fixed interest
Overseas equilles
Othar assgls
Cash and accrued Interest
1,350,070
1,196,030
415,496
11.462,527
1,787.796
881,890
5,091,076
422,405
6, 727,469
1.501,446
10.
DEBTORS
2024
2023
Trad6 dèblers
Prepayments and acerued Sncom8
147,239
109,869
Page 30

CHRIST'S HOSPITAL OF ABINGDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11.
CREDITORS.. Amounts lalling du8 within one year
2024
2023
Trade creditors
Accruals
38,358
227 762
58,407
12.
FINANCIAL INSTRUMENTS
2024
2023
Basic tinancial assets
Basic linancial liabilities
17,662,509
(266,120)
16, 758.400
(227, 175)
Ba81c financial assgts are all investments {excluding Inv8slmenl pro￿rtIes1, debtors plus cash in
hand mlnus prepayments.
Bas￿ Ilnanelal Ilabllllles are all credllors lèss duè In188s than onè year plus crodllors due In morè
than onè year mlnus laxallon payabla.
The enllly's Income, expense, g￿n8 and 108888 In respect ol linanclal Instruments are
Summarised below..
2024
2023
Total divld8nd and inièfa5t in¢om¢ lor basic financlal assets
Total gainslllossésl in respect ol basic financial assets
434,050
1,184,551
426,631
860,386
13.
RELATED PARTIES
One Governor Imr K W Senlorl Is Iruslee8 al the Albert Memorial TnJ81 IAbingdonl Charity IR8gislered
Charity no. 10762741 lo whom the Charity pald £1000 12023., £1,000) and whom granted £716 12023..
£6091 durlng the year lo cover the Insurance costs ol the memorlal In Albèrt Park. Abingdon.
SIX Governors (Cllr Mrs G Barody, Cllr Mr T Greenaway, Cllr Sanderson, Cllr O Forder, Mayor Cllr Dr G
L8wis OBE and Cllr Jghanlil are fnernb8rs of the Abingdon Town Council which granted the Charity £500
12023.. £4.1001 during thè year towards a town ctsuneil mèal for Christmas.
Two Governors (Mr L King and Cllr Mrs G 8arodyl ar8 Truste@ ol The Ablngdon Brldg8 IR8glstered
Charlly no. 11600801 which ollers young people advicg and counselling. During the ygar th¢ Ghafity
granled £44,36012023: £45.4391 towards supporting Ihelr sorylcos lo the peoplo of Ablngdon.
Two Governors (Mrs A Saunders and Mayor Gllr Dr G Lewls OBEI have links lo Sl Edmunds School to
whom which the charity pald £74,90512023'. £32,260) durlng the year lo support varsous activllies.
One Governor (Mrs G LewSsl has Ilnks to Sl Nicholas Church lo whom whlch the charlty £11,559
durlng tho yoar to support varlous aCt￿￿tIes.
Page 31

CHRIST'S HOSPITAL OF ABINGDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
13.
RELATED PARnES Icontlnuedl
One Govemor (Rev Dr E C Miller - Left Ocl 20241 is a llustee ol Sl Nicholas School lo whom whiGh the
charity paid £18,104 durlng the year lo support various actbvllies.
One Governor (Mr K W Senior) is Governor al Abingdon School to whom whlch thè eharity paid £1,000
during the year12023= £nill lo support thg provision ol Robocon laptops.
A close family member ol one ol the governors (Mr S Workrnanl is ernployed by Dunmore Sch(Jol to
whom which the charity pald £1,700 during the year to support various acllvities and school Irlps.
UNRESTRICTED FUNOS
All
January
2024
At31
Deeember
2024
Incomlng Rgsources
rasources
exp8nded
Gains
Transfers
De¥lgnalgd lund$
exlra¢rdlnary
repair fund
660, 739
13.557
855
13,1401
45,671
15,871
832,692
Extroordlnary Repalr Fund
This fund has been set up by the Governors In response ol th8 Almshouse Assoclalion'8 guldance
lo have a fund lor each Almshouse lo wovidè lor the cost of extraordlngiy rapalr$, Improvgmgnls
or building ol tho charlt5es' Alrnshouses.
Property Capii#l Fund
A temporary endowment fund was created, pursuant lo an order ol the Charity Commissiongrs
sealèd on 16 OGlober 1972, in respect ol th8 property known as South Ablngdon Community
Centre. This property was sold during the year ended 31 December 2000 and thè proc8eds wer9
used lo op8n a Propgrty Capital Fund whlch has now be8n Iranslèrred Its general lunds.
Tran•lor3
The Iransl#r from General Fund to Extraordinary Ropair Fund Is made In accordance wllh th
recomme￿all￿nS ol the Almshouse Asswialion. The charlty has transferred In excess ¢1 the
mlnSmum required and varies depgnding on the Governors best estlmale ol the stale and costs
r8quir8d for that sel ol Almshouses.
Transler IrDm the Property Capllal Fund lo General fund 15 in ordgr lo rplpasg thls deslgnaled fund
which Is d88med no longer required by the Govèmors.
The transter Irom G8n8ial Funds lo thè Endowment Rocoupment Funds is in accordance wllh the
Recoupment Orders.
Pagg 92

CHRIST'S HOSPITAL OF ABINGDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
15.
RESTRICTED FUNDS
All
January
2024
A131
December
2024
Incoming Resources
resources
expended
Gains/
IL05sesl
Transfers
Albert Park grant
Fleldlng Alms Hou$e L¢g•cy
Condult Hous• R•$toratlon
Grant
4,100
50,000
14,1001
150,0001
4,100
14,1001
John Blacknall
GhurGh branch
R81iel in ne8d branch
12, 162
111,5591
15811
1,704
1,726
479,127
30,498
121,9541
40,243
20,572
548,486
Rlchard Wrlgg19$WOrth
Rellgf in need branch
114, 195
5.958
18,2761
9,496
4,517
125,890
157, 736
8,220
18,5341
13,249
6,032
176,702
Ablngdon Alm$housg
Almshouse branch
264,156
9,409
15,3481
22,577
Extraordlnary repair
230,367
5,627
11,3041
18,958
Rgliel In n90d bran¢h aao2) JLZZ) alL41
7,697
6,341
298,491
259,989
425, 778
14,727
116,9291
25,761
13,070
472,407
Tomklns Alm•houso
Almshouse branch
Extraordinary rapair
157,002
5,394
125,7411
14,670
8,925
155.250
293,963
8,368
26,4301
24,691
8,844
309,436
Twllly'$ Alm$hou$o
Almshouse branch
Exlraordlnary repair
L9gacy
(52,692)
Y41,974
17571
3,454
113,6241
18001
14,1331
11,631
(71.2221
160.214
3,955
Total r•strletad lund8
Almjhouso br•nch•*
Funds lor the provislon and maintenanc8 ol dmshous8s and their r8sKlenls.
Rellel In Need branches
Funds availabl8 lo suw)ort P8opIg in condiions ol nggd, hardship or dislr8ss either individually or
generally.
ExtrJordinary r•p•lr fund
Funds created in rèsponse lo orders of th8 Charity Commissioners to provid8 lor the cost of
extraordinary repairs, ir￿)rOvementS or building ol ihe charities, almshouses and other properly.
Page 33

CHRIST'S HOSPITAL OF ABINGDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
15. RESTRICTED FUNDS (Continued)
The Charity ol John Blacknall- church branch
Income payable to th8 In¢umbenl and Churchwardens ol the Parish ol Sl Nicolas applicable lo the
ainlenance ot Ihe Church ol Sl Nicolas. Abingdon.
The Charlty ol Rlchard Wrlgglesworth
Education Branch Funds available lo assisl with the Education ol individuals under Ihe age ot 25
by way of exhlbllion, grant or towards preparinu them lor entry into a tradg.
Transfgrs
The Iranslers lo John Blacknall Church Branch and the Richard Wigglesworth Education Fund ar&
made to meet the requirémgnts ol Ihe Scheme of that Charity.
Translors from Amshouse funds to Extraordinary Repair Funds ar& mad8 in accordancè wllh the
recornmendalions ol the Almshouse A8soci&llon. The charity has Iranslerrèd in $xcess ol the
mlnimum r8quir8d and varles d6pènding on tha Govarnors b9s1 gslimale of the slate and cosls
required lor that s&1 of Almshouses,
Page 34

CHRIST'S HOSPITAL OF ABINGDON
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16.
ENDOWMENT FUNDS
All
January I￿Oming Resource8
2024 r8sourc8S
expended
At31
December
2024
Gainsl
(Losses) Transfers
Chrlst's Ho$pltal
Permanent
Capital raeoupmgnl
Order A
Order B
11,547,585
1108,4421
381,210
1113.1471 11,707,206
195. 711
4,827
14,6261
16,263
2,541
985
214,716
11,819, 726
6,715 1114,8771
403,832
{109,621 I 12,005,775
John Blaeknkll
Permanenl
744, 136
117,7791
62,501
1,423
790,281
Rlchard Wlggl•sworlh
Permanent
General
Educatlon
125.929
48,055
13,0091
11,1001
10,577
3,868
241
133.738
171,982
14,1091
14,445
328
182,646
Ablngdon Almghou80
Peimanènl
Almshouse bran¢h
R8li81 In nèèd
branch
108,593
12.5941
9,121
208
115,328
164,949
13,9401
13,854
316
175,179
Tomkln• Alm$hou•e
Perman&nl
Triltty's Almshou8
Permanent
18
Capital B￿0Upment Funds were 501 up in accordance with Iho Gharily Commission Aecoupmenl
ordars August 1984 and Dec8rnber 1984 to recoup the permanent endowment. The other Funds
arg pgrmanenl Endowment funds held In accordance wlth the iesliiclion and used lo general8
reslrlcled funds lor the charlty.
Transfers
Capital Recoupment Order 'A' sealed on the 13th Decembèr 1984 in the sum of £215,000 for
'land and buildings,, repayThenl being £1,039.46 per annum lor 53 years from ihe date ol the
Ordgr.
Capital Rectsupmént Order 'B' sèalad on Iho 21st August 1984 in thg sum of £65,000 for
'provision ol a service area in Albert Park,. repayment being £0.550/. per &nnum ol the sum
expended lor 50 ygars from tha dal8 ol th8 Ordar.
For both Orders the Governors shdl permit the dividends accrulng to be Invested Ihereon by way
ol accumulation until ￿e1ve months arter the last payment.
Pagè 35

CHRIST'S HOSPITAL OF ABINGDON
. NOTES TO THE FINANCIAL STATEMENTS {CONTINUED>
FOR THE YEAR ENDED 31 DECEMBER 2024
17.
ALLOCATION OF NET ASSETS BETWEEN FUNDS
2024
Tangible
Fixed assets
Investrnent Investments
properli8s
Nel current
assets
Total
Endowed
Reslricled
Unreslricled
22,195
7,113,575
6,082,362
1,597,009
13.218.132
1.597,009
9 730 018
621548
2023
Tangible
Flxedassets
Invaslmenl Investments
propertl8S
Nel eurr8nl
asser$
rotal
Endowcd
Reslricled
Unrè$irl¢led
25,886
6,983,000
5.949,6Y I
1,446, 758
12,958,497
1,446,758
18.
RECONCILIATION OF NET CASH FLOW TO NET FUNDS
2024
2023
IDacr9a$gllincr9ase in cash during the year
Change In nel lund$
Nèt funds a11 Janu*y 2024
Nel lunds al 31 Oecembor 2024
19.
ANALYSIS OF NET FUNDS
Nel funds at
Cash
change
Net funds at
31
December
2024
January
2024
Cash at bank and in hand
Cash awaiting investment
Cash deposits
537,347
66,511
46
132,7091
20,369
504.638
86.880
Page 36

CHRIST'S HOSPITAL OF ABINGDON
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
20.
OPEAATING LEASE COMMrrMENrs
Al 31 December 2020 the Charity has lulure minimum1oa8o payments under non-cancellable operating
leases as follows..
2024
2023
Equlpment
Not later than one year
Later than ong year and not later than live years
2,163
2.163
21.
CAPITAL COMMITMENTS
Al 31 Docember 2024 the Charlty had no capilai commitmonls 12023 £Nill and no charllable
commllmenls12023 - £NS11.
POST BALANCE SHEET EVENTS
Thara arg no mall8r$ ol a rnalgrlal nalurg lo rgport in th8 post balanc8 sh881 p8riod.
Page 37

CHRIST'S HOSPITAL OF ABINGDON
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
23.
STATEMENT OF FINANCIAL ACTIVITIES- COMPARATIVES BY FUND TYPE
Unrestrictod
Funds
gstrkted
Funds
Fr￿0￿¥M￿lI1
Funds
Total
2023
Income and endowments from..
Donations
Invtsstments
CharitAbl8 actiwiti•s
- conlribulions Irom Almsp¢ople
4, 100
44,827
4, 100
717.717
868,897
4.453
144.374
75,494
219,868
Other
371
Total income and endowments
Expenditure on..
Raising lunds
Charitable acbvlties
- Grants payable
Provlsion olAlmshouses
- Albert Park maintenance
25,83Q
4,295
161,671
191,796
514,038
243,722
18.739
177,232
532,777
420,954
Total &xp8ndtur8
N¢tgain$/(loss) ¢n lftvostmoni$
Alor su￿1V$/{de￿'eItj
Translers b8lw•an lunds
N81 movem￿1 in funds
195.068
141,045)
210,346
364,367
Toi41 funds brought lory/wd
Total funds Carr￿ forward
Pagg 38