DORMERS HOSPITAL CHARITY STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
DORMERS HOSPITAL CHARITY CHARITY INFORMATION Trusloes R Barber C R B Goldson OBE (Treasurer) S Kelly IChair} A Thomson L Shephard Rev H Robson Iresigned 29 May 2024) P Bradley Iresigned 9 January 20241 T Gregory lappoinled 7 M8y 2024) Charlty registratlon number 206379 Regulator of Social Housing rogistration number A2917 Address 27B Aylesbury Road Wing Leighlon Buzzard Bedfordshire LU7 OPD Solicltors Austin & Carnley Bridge House Bridge Streel LehlOn Buzzard Bedfor¢Jshire LU7 1AH Bankers CAF Bank Ltd 25 Kings Hill AveTrue Kings Hill Wesl Malling Kenl ME194JQ Indepgndent Examlner Mr S. J. Wilson Uplon Wilson Ltd 3 West Street Leighlon Bu72ard Bedfordshire LU7 1DA
DORMERS HOSPITAL CHARITY TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report and aceounls lof the year endod 31 December 2024. The accounts have b&en preparèd in accordance wth the accounting policies set out in nole 1 to the accounts and comply wrth the charitq5 Trust Deed, the Financial Reporting Standard FRS 102, the Charities Act 2011. the Co-operative and Community Benefits Societies Acl 2014. the Housing and Regeneration Act 2008 and the Accounting Direction for Registered Providers of Social Housing 2015. Structure, governanc8 and management The charity Is governed by a Trust Deed dated 8 July 1980. The Trusts objects are the provisK)n of housing. The trLtstees who served during the year were= R Barber (Wing Parish Council nominee appointed from 25 FebTuary 2021 until 30 April 20251 T Gregory (appointed on 71h May 20241 C R B Goldson OBE {Co-opled Iruslee reappointed from 5 September 2023 until 30 October 2028) S Kelly nominated, reappointed from 5 September 2023 until 3D April 20271 A Thomson Co-opted appointed from 3 March 2020 10 2 March 2025) L Shephard Nominated, appoinlmenl las PC nominated trusleel noted 5 September 2023 until 29 May 20271 Rev H Robson lex officio appointed 7 July 2020 and resigned on 29 May 2024) P Bradley (Co-opted trustee appointed 3 May 2022 until 2 May 20271 Iresigned 9 January 2024) As sel out in thè Trust Deed, the tmslees shall consist of one ex officio truslee, being the Vicar of All Saints, Wiw, four nominaled trustees appointed by Wing Parish Council and ci>opled Iruslees who, through reSence, occupation or employment or otherwise have special knowledge of the Parish ofWiThJ. New trustees receive training from existing trustees regarding the objectives and opeTation of the Trust. They Slso gsin an unders18nding of their legal obligation with regard lo charity law and the structure of the Trust. They are advised of appropriate training courses and are encouraged lo atten(J. The Iruslees administer the charity and meet bi-monthly. None of the trustees receive remuneration or other benefit from their work with the charity. The trustees have assessed the major r•sks to which the charty is expK>sed, and ar8 sats$f& that systems are in place lo milig8le exposure lo Ihe major risks. Objectiv. activltl•s. achlevements and perforn?ance The charitys objects are the Provision of almshouses in Wing, Buckinghamshire. The aims of the charity are the provision of housing in Wing. Buckingham5hire. The objectives for the year were lo continue to ensts Ih81 the housing remains of decent stsndard for the benefit of currenl an(1 future residents. The trustees have paid due regar¢J lo guidance issued by the Charity Cornmission in decKJing what activilles the charlty shoLblé undertake. During the year the charity continued lo ma5nlain both the PToperti&s and the site. The charity continued to pursue its programme of improvements to the properties.
DORMERS HOSPITAL CHARITY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Flnanclol review The trust had a surplus for the year of £25,179.70 including Inveslmenl galns of £4.458.73. Wllh the level of reserves, Ihe Charity will be able to continue with th8 provision of housing and to maintain the properties. It is the policy of th8 charity that revenu? funds whl¢h have not been designated lor a 5pecrfic use should be malntsined at a level equivalent lo between Ihree and stx month's experTdilure. The Iruslees consrders tb.at reserves 81 Ihls level will ensure that, in the event of a significant drop in income, Ihey will be able to continue the Charit$ curTetrt aclivrties whlle consideration is given lo ways h which additional ineome may be r8ised. This18vel of reserves has been maintained throuyhoul the year. On behalf of the board of trustees Trustee Dated..
DORMERS HOSPITAL CHARITY STATEMENT OF THE TRUSTEES, RESPONSIBILITIES IN RESPECT OF THE ACCOUNTS Charty law requires the trustees lo prepare financial statements for each financial year whrch give a true and fair view of the stale of the affairs of the charity and of the income and expenditure fcy the year. In preparing these financial 5ts1ements the trvslees are required lo.. select sultae accounting policies and apply them consislenlly., make judgements and estimates that are reasonable and prud8nl prepare the financi slalements on the going concem basis unless il is inappropriale-, slate whether applicable aOuntIng stsndards have been followed. The trustees are responsible for keeping proper accounting records which disclose with reasonable a¢curacy at any time the financial position of the charity and lo enable them lo ensure that the accounts comply with the Charibes Act 2011. the Co-operative and Community Benefits SocielEs Act 2014, the Housing arKI Regeneration Act 2008 and the Accounting Direction for Private Registered Provider5 . of Social Housing 2015. They are also responsible for safegLJarding the assets of the chartty and hence for taking reasonable steps for the prevenlw)n and deteCtn of fraud and other irregularities, by establishir@ and rnaintaining a salisf8clory system of control over the charitys accounting records, cash holdings and all its reGeipls and remittan¢es.
INDEPENDENT EXAMINERS, REPORT TO THE TRUSTEES OF DORMERS HOSPITAL CHARITY I report on the 8¢counls of Ihe Irusl for the year ended 31 December 2024. which are set out on pages 5t010. Re$p¢1Ve r¢8pon8lblllti08 of trust•es and examlnor The charity's Iruslee5 are responsible for the preparation of the accourbl8. The ch8riVs Iruslees con$id8r that an audit is not reqLsired for this ye8r under section 144121 of the Charities Aol 2011 Itkie 2011 Acll and that an independenl examination is needed. 11 is my responsibility to.. examine the accounts urider section 145 olthe 2011 Act- to follow the procedures laid down in the gerleral Directions oiven by the Charity Commission un(ler secllon 14515llb} of the 2011Acl' and lo slate whether parti¢ul8r matters have come to my attention. 88818 of Independènt examlnerfs report y examination was carried out in accordance with the General Direc*ions given by the Chartty Commission. Commission undor Section 14515llbl of the Act and to bè found in the Chureb Guldance. An examination includes 8 revlew of the accounting records kepl by Ihe charity and a comparison of the accounts presented wtth thosè records. It also includes considering any unUSal items or disclosure5 in the a¢coun18 and seeking explanations from you as trustees concerning any such matters. The proccduros undertaken do r1 provide all the evldence that would be required in an audit, and consequently no opinion 55 given as lo whether the a¢coL¢nts present a 'lrue and fair view and the report is limited to those matters set out in Ihe slalemenl below. Independent axamlngfs Statement In eonneclion with my exaMEr¢10n, no maller has corne to my attention: {1) whlch giv8s me reasonable causè to b61ieve that in any material respect the requiremenls tu keep accounting record5 in acGordance wlh sèction 130 of the 201 l Act.. and lo prepare accounts which accord with the accounting records and lo comply with the accounting requirements of the 2011 Act, have r1 been mel; or 12) lo which. in my opinion, attention should be drawn In order to enable a proper understanding of the accoLsnls to be re8ch&d Stephen J Wllson Upton Wllson Ltd ChaFteied Certified Accountants 3 West Street Leighton Bu2zard Bedfordshire LU7 1DA
DORMERS HOSPITAL CHARITY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Turnov•r 26,056.83 24,404.46 Operating costs (13,274.26) 121,069.381 Opèrating Surplus (dollclt) 12,782.57 3.335.08 Interetsl receivable and simllar income 7,938.40 6.052.83 Investment gainl{lossl Surplu$ {deficitl for the year (Total comprehensivo income for the yearl 4,458.73 2.038.22 25,179.70 11.426.13 Operating costs13) include £4,242.48 regardiry the Tevalualion of the Sockol Housing Grant creditor. The financial slatèmenls were approved by Ihe trustees on its behaw by.. and signed on ChaSrman Trustee Trustee
DORMERS HOSPITAL CHARITY BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Fixed assots Tangible #s$e4S- Housing properties 68,181.68 68,466.95 Current assets Debtors Inveslmenly Cash at bank 1,071.66 128,694.31 46,553.60 824.74 10 142.153.04 62,125.14 205,102.92 170,319.57 Cr6dltors'. amounts falllng due within one year 11 1720.001 11,644.10} 204,382,92 174,675.47 Net cur¥ènt a5$ets Total assots less curyent Ilablliti¢$ 272,564.60 243,142.42 Crèditors- amounts falllng duo aftor ong year 12 167,004.00) {62,761.52} Net assots 205,560.60 180,380. Reserv•s Capi181 funds Revenue fund 33,508.00 172,054.60 33.506.00 146,874.90 13 14 205,560.60 180,380 90 The IinanLi31 slatemenls were signed on Ved by the Iru51ees on and were Ghalrman Trusteè Trustee
DORMERS HOSPITAL CHARITY NOTES TO THE ACCOUNTS Legal status The Charity was established in 1569. The Charity is also registered with the Regulator of Social Housing Urer the Housing and Regeneraln Act 2008 and a Regislered Social Landlord. The Charity conslitules a public benefit enlty as defined by FRS102. A¢¢ounting pollcles al Basis of accounting The financial statements are prepared under the historical cost convention as modrfied by the revaluation of current asset investments in accordance with Financial Reporting Standards 102 IFRS1021 issued by the Financial Reporting Council and comply wilh the Accounling Dirèction for Private Registered Providers of Social Housing 201 S. the Slat8ment of Recommended Practice for Regislere(I So¢ial Housing Provider5 2014 ISORPI. the Housing and Regeneration Act 2008 and the Charities Acl 2011. b) Ttsrnover Turrx)ver represents conlribution income ieceivable in the year. The Charily is not regfjsled for Value Added Tax. c} Houslng land and buildings Th6 housing properties were grfted lo the ch8rity in 1569. The prowties were renovated, with the aid of Social Housir¥g Grants. in 1981182. The development cost of housing properties indude.. lil all development expenditure lil) interest Charged on the mortgage loans raised lo finance the scheme. These costs were mel through Social Housing Gran15 2nd, in the case of non-qualfy'ng expenditure, through the charity's internal funds. The charity has reviewed the economic useful lives of lis housing properties and provides (leprecialion Isee d} belowl. dl Depreclation and Impalmignt Freehold18nd is not depreciated. Deprecialior* al the r81e of per annum of housing properties 15 effectNely recognised.. li} by Social Housing Grants which reduce the nel inveslrnenl in housing propertie5 to an amount which Can be recovered from the expected nel ierktal income,. and {iil In respect of Ih81 proportion of cost not fInand by Social Housing Grants, by maktng peri(1¢ charges for deprecialiors in the propety revenue accounl. Housing prOrtieS are revEwed for impairment annually and where housing woperties have suffered a permanent diminLtlion in value, the f311 in value is recognised after taking account of any related capital grants. There are no oth8T assols against which depreciation is charged. el Works to ¢xlstlng houslng properties The charity capitalises expendilure on housing properties whi¢h increases the nel rental stream over the life of the propety. An increase in the rentsl stream m3y arise through an increase in the rental income, a reduction in future maintenance costs, or a signrficanl exten5iori to Ihe lile of the piopety. Social Housing Grants ISHGI Grants were made lo the charity by the Department of the Environment ben September 1982 and January 1984. The amount of SHG is calcijlaled on the qualifying costs of the scheme In cordar7ce with instructions issued from trme to lime by the RegulaloT of Social Housing.
DORMERS HOSPITAL CHARITY NOTES TO THE ACCOUNTS {CONTINUED) Accountlng policies continued gl Investmènts Investments are recognised al thèir Iranssclion value Jnd subsequently Ineasured al their fa value as al the balance sheet date using Ihc ¢1051ng quoted market price. The Slalemenl of Financial Activities includes the nel gains and losses arising on revaluation and disp05al8 Ihroughoul the year. h) Flnancial instrum#nls Flnan¢ial assets and linanclal Ilabililies are recognised when the Charity becomes a party to lh8 conlracltial provisions of ihL) inslrumenl. Basic financlal assets Whic include debtors and cash and bank balances 8re Inillally measured al transaction prico including transaction costs and are subsequently ¢arried at amortised cost using tha effaclive Inleiest method. Basic financi81 liabililles, which in¢lude credilors. bank loans and loans are initi311y recogni5ed al transaction price unless the arrangement constilules a lin8ncing;r3ns8clion. i} Capltèl fund The charity has no share capital. The capital fund represents the v8'.ualions of the property. based on Regulator of Social Housing definitions and valuations, and cost of the 1982 Tenovalion5 m8t by private funds. j} R0venu$ fund This fund represents the accumulated surplus of incomè over expendiluT8. Partlculars of inGome and expendltur¢ Irom so¢lal houslng actlvltlos 2024 2023 Housing accommodation- Income.. Contributions 26,056.83 24.404.46 Expenditure: Resldenls, services Routine maintenance Majoi repairs Depreciation of housing properlies Adminislralive costs 732.49 1.086 40 182.10 285 27 6.645.52 1,321.20 10.548.31 3,168.00 300.29 5,731.58 Operatlng costs 8.911.78 21,069.38 Operating surplus Idetlcil) on soci81 houslng18ltlngs 17.145.05 3.335.08 Int•rest re¢eivable and 51mllar income 2024 2023 Interest receivable Dividends receivable 1,868.47 6,069.93 697.35 5,355.48 7,938.40 6,052 83
DORMERS HOSPITAL CHARITY NOTES TO THE ACCOUNTS (CONTINUED) Invgstment galnsl{10s8es) 2024 2023 M&G Charity Multi-Assel Fund shares 4,458.73 2,038 22 4.458 73 2.038.22 Surplus on ordlnary actlvltles 2024 2023 Surplus on oréinary 8clivilies is slated after charging.. Autjilors. remuneration (including expenses) for the year Nil 1,800.C(I Taxatlon The charity is a regislered charty antl exempl from &. Fixed assets - social houslng land and buildings available for lettlng 2024 2023 Cost and valualK)n Al bèginning and ¢nd of year 96,267.$2 96.267.52 Depreciation-. At beginning of year Charge during the year 27.800.57 285.27 27,51XJ.28 3(O.29 Al end of year 28.085.84 27,800.57 Nel book value.. Al b8ginning of year 68,466.95 68,767.24 Al end of year 68,181.68 68,466.95 The insurance value of housing buildings al the year end was £983,88312023- £964,591) compared th a c051 of £96,26712023- £96.2671. The land and buildings of the charity are freehold. Dgbtors 2024 2023 Contributions Prepayments 0.32 824.43 18.17 1.053.49 824.75 1,071.66
DORMERS HOSPITAL CHARITY NOTES TO THE ACCOUNTS (CONTINUED) 10 Gurrent assgt inv08tment$ - valuatlon 2024 2023 M&G Charity Mulli-Assel Fund - 153.131.569 shares 12023 - 143,279.123 5har85} Ground renl on laftd at Linslade 142.152.04 128.693.31 1.00 142,153.04 128.694.31 11 CredltorB (amounts dug w1th5n on¢ yoJr} 2024 2023 Accruals and deferred inwme 720.00 1,644.10 720.00 1.644.10 12 Credltors (amounts due after on• year) 2024 2023 soc1 Housing Grant 67.004.00 62,761.52 13 Capltal fund {rn5trl¢tedl 2024 2023 Balance èl beginning and end of year 33,506.00 33.506.00 14 Revgnu• fund 2024 2023 Balance al beginning of year Surplus Ideficft) of revenue during the year 148.874. 25.179.70 135,448.77 11,426.13 Balance al end of year 172,054.60 146.874.90 15 Contlngent Ilabllltles A grant of £8,573.70 was received in 1988 respecl of repair expenditure in an eartier year and toan interest incurred Ihereon. The 1$ a contingenl liability In respect of th8 Regu18tor of Social Hou81ngs Rights of Recovery. 16 Employogs, trusteos. Èt¢. The charity has no full-linie or part-lime paid employee$12023- Nill. Th6 trustees offer their servi voluntarily and receive neither fees n¢r any other form of remunerallon for thelr services. 17 Hou8ln9 Stock The charSty own freghold four 2-p8rson dwellings in Wing, LinghaMshlre. which are occupied under the terms of thè Trijst Oeed. 10
DORMERS HOSPITAL CHARITY NOTES TO THE ACCOUNTS {CONTINUED) 18 Post Balance Sheet evènt On 16th January 2025, the Charity entered into a deed with the Homes and Communities Agency wherety, inter alia, repayment of earlier giants from Homes England now recorded as £67,004 will be deferred until such lime as a Trigger Event occurs. Such Trigger Events would include disposal of the property or 8 Change in Control of Ihe Charity.The deed also facililaled deregislration of the Charity from the Regulator of Social PIou5ing's Register of Soctal Housing Providers.. and committed the Charity lo regisleF a restriction with the Land Registry in favour of the Homes and Communities Agency relating to the terms of the 2025 deed. 11