## **HOSPITALS OF ST BARTHOLOMEW AND ST JOHN** ## **REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2024** **Charity Registration No. 209221** ## **HOSPITALS OF ST BARTHOLOMEW AND ST JOHN** ## **CONTENTS** ||**Page**| |---|---| |Reference and Administrative Details|1| |Report of the Trustees|2 - 4| |Independent Examiner's Report|5| |Statement of Financial Activities|6 - 7| |Balance Sheet|8| |Notes to the Financial Statements|9 - 15| ## **HOSPITALS OF ST BARTHOLOMEW AND ST JOHN** ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Trustees - Nominative** Cllr. Mrs P Graham Cllr. Mr J Martin Cllr Mr S Bailey Cllr. Mr J Chapman ## **Trustees – Co-optative** Mr A Curl Mr C Medlicott Mrs S Moberly Dr R Mohr Mrs H Molyneux-Gerken **Ex-Officio Trustee (Vicar of St. Leonard's Church)** **Key Management Personnel** **Clerk to the Trustees** Revd. M Darkins Trustees (as above) T R Lawrence Mr T R Lawrence 49 High Street Hythe Kent ## **Independent Examiner** S Jennings, FCA Azets Audit Services Ashford Commercial Quarter 1 Dover Place Ashford Kent ## **Banker** National Westminster Bank Plc 49 Sandgate Road Folkestone Kent 1 ## **HOSPITALS OF ST BARTHOLOMEW AND ST JOHN** ## **REPORT OF THE TRUSTEES** The Trustees present their report and financial statements of the charity for the year ended 31 December 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice. ## **Public Benefit Statement** The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities. ## **Objectives and Activities** The objective of the charity is to provide accommodation for the elderly in need, who must be over the age of 60 and have lived in the Parish of St Leonards, Hythe for not less than 10 years. ## **Achievements and performance in the year (including financial review)** The charity provides accommodation in the form of 7 self-contained flat-lets in a part-medieval, part post Second World War building, conveniently situated at 150 High Street, Hythe. Residents had agreed to contribute £200 each from their winter fuel bills to aid with rising living cost. A relatively quiet year with no disasters. Rental income increased during the year following an increase in rent rates. Expenditure has decreased on the previous year by around £6.7k, mainly due to repairs to the wall required in the prior year which were not undertaken this year. A surplus for the year of £3,345 (2023: deficit £15,139) has been reported, before gains/losses on investments. The net movement in funds after gains on investment is an increase of £5,732 (2023: decrease £6,253). This resulted in reserves at 31 December 2024 of £223,621 (2023: £217,889). ## **Investment policy** The Trustees may invest, as they see fit for the benefit of the charity, all funds in the Income Fund. The investments are decided by a resolution of the Trustees at Trustees meetings. ## **Reserve policy** The Trustees consider the level of unrestricted reserves to be adequate. At 31 December 2024 the unrestricted general funds amounted to £47,185 (2023: £41,407). It is the aim to have a minimum of 1 years expenditure, amounting to £34,000 (2023: £34,000), to safeguard the future of the charity. This is based on budgeted future expenditure including any renovation and improvement costs. The Permanent Endowment fund represents the value of the original investments defined as permanent endowment in the charity's governing document. Any appreciation arising from this sum is shown as part of the permanent endowment fund. At 31 December 2024 the fund had a balance of £26,398 (2023: £25,878). The Expendable Endowment fund is for the purpose of providing for the extraordinary repair, improvement of rebuilding of the almshouses belonging to the charity. At 31 December 2024 the fund had a balance of £991 (2023: £991). Designated funds represent the 'Fixed asset fund' which is the value of tangible fixed assets and investments designated to by the Trustees to provide an income stream and the 'repair and renovation fund' which is to provide for future repairs and renovations for the flat-lets. The value of the funds amount to £149,047 (2023: £149,113). Restricted funds represented donations received for specific purposes such as the repairs to the Almshouse wall and the 750th Anniversary. The funds had been fully spent by the end of the year (2023: £500). 2 ## **HOSPITALS OF ST BARTHOLOMEW AND ST JOHN** ## **REPORT OF THE TRUSTEES** ## **Risk register** The Trustees have developed a list of the current risk factors which have the potential for endangering the operations of the charity and are satisfied with this analysis and the measures which have been taken to mitigate the effects of these factors. The main risks to the charity are the usual Health and Safety issues, which the Trustees keep under regular review. In addition, income comes mainly from rental income from the flats as investment income. All reasonable steps were taken to protect the Residents from Covid-19 and the usual risks for the elderly. ## **Going concern** The Trustees have taken all the necessary steps to ensure our residents remain safe and well. We have been fortunate that we have not suffered any loss of income as maintenance payments continues to be paid. No large items of expenditure have been necessary and our bank balances have remained stable. There have been disposals and acquisitions of new investments during the year. Based on this the Trustees consider the charity to be a going concern. ## **Plans for the future** The Trustees will have any recommendations made by The Senior Building Fire Safety Inspector of Kent Fire & Rescue Service due to visit on 10 January 25 and will generally maintain the high standards of safety in the home. ## **Structure** Although the earliest known recorded mention of St Bartholomew's Hospital in Hythe was in 1274, the charity has its origins in a Charter dated October 1336 by Hamo De Hethe, Bishop of Rochester and is registered with the Charity Commission, number 209221. ## **Governance and Management** The Trustees of the Hospitals of St Bartholomew and St John are responsible for the general control and management of the administration of the charity. The trustees who served during the year and up to the date of signature of the financial statements were: |Mr C Medlicott|Mrs H Molyneux-Gerken| |---|---| |Cllr. Mr J Chapman|Dr R Mohr| |Mrs S Moberly|Cllr Mrs P Graham| |Cllr J Martin|Revd. M Darkins| |Mr A Curl|Cllr Mr S Bailey| The body of Trustees consist of 10 persons being: An Ex-officio Trustee (the vicar of the parish of St Leonards, Hythe), 4 Nominative Trustees (appointed by the town council for the term of 4 years at a council meeting), 5 Cooptative Trustees (persons who through residence, occupation or employment, or otherwise have special knowledge of the town of Hythe). They are nominated by resolution of the Trustees for a term of 5 years. ## **Key Management Personnel** The Trustees consider the Trustees and the clerk to the Trustees comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. The key management personnel are involved in all decision making and responsible for the day to day management of the charity. All Trustees give of their time freely and no Trustee received remuneration in the year. 3 ## **HOSPITALS OF ST BARTHOLOMEW AND ST JOHN** ## **REPORT OF THE TRUSTEES** ## **Statement of Trustees’ Responsibilities** The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP 2015 (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. .................................................. ## **Mr C Medlicott Trustee** Date: 4 ## **HOSPITALS OF ST BARTHOLOMEW AND ST JOHN** ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES** I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2024 which are set out on pages 6 to 15. ## **Responsibilities and basis of report** As the charity's Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:. - 1 accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2 the accounts do not accord with those records; or - 3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. …................................................. **S Jennings FCA** Date…........................................ Azets Audit Services Ashford Commercial Quarter 1 Dover Place Ashford Kent TN23 1FB 5 ## **HOSPITALS OF ST BARTHOLOMEW AND ST JOHN** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024** **----- Start of picture text -----**
Permanent Expendable
Endowment Endowment Restricted Unrestricted Total Total
Note Fund Fund Fund Fund 2024 2023
£ £ £ £ £ £
Income from:
Donations - - 7,250 85 7,335 2,000
Charitable activities
Contributions received from residents - - - 38,500 38,500 32,025
Investment income
Dividends received - - - 2,939 2,939 1,460
Interest received - - - 1,261 1,261 2,645
Total income - - 7,250 42,785 50,035 38,130
Expenditure on:
Charitable activities
Property running costs 3 - - 500 46,190 46,690 53,269
Total expenditure - - 500 46,190 46,690 53,269
Transfers between funds - - (7,250) 7,250 - -
Net expenditure before
gains/(losses) on investments - - (500) 3,845 3,345 (15,139)
Gain/(loss) on investment assets 7 520 - - 1,867 2,387 8,886
Net movement in funds 520 - (500) 5,712 5,732 (6,253)
Reconciliation of funds:
Fund balances at 1 January 2024 25,878 991 500 190,520 217,889 224,142
Fund balances at 31 December 2024 26,398 991 - 196,232 223,621 217,889
**----- End of picture text -----**
All recognised gains and losses are included in the Statement of Financial Activities All income and expenditure derive from continuing activities. 6 ## **HOSPITALS OF ST BARTHOLOMEW AND ST JOHN** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023** **----- Start of picture text -----**
COMPARATIVE INFORMATION Permanent Expendable
Endowment Endowment Restricted Unrestricted Total
Note Fund Fund Fund Fund 2023
£ £ £ £ £
Income from:
Donations - - 2,000 - 2,000
Charitable activities
Contributions received from residents - - - 32,025 32,025
Investment income
Dividends received - - - 1,460 1,460
Interest received - - - 2,645 2,645
Total income - - 2,000 36,130 38,130
Expenditure on:
Charitable activities
Property running costs 3 - - 1,500 51,769 53,269
- -
Total expenditure 1,500 51,769 53,269
Net expenditure before
gains/(losses) on investments - - 500 (15,639) (15,139)
Gain/(loss) on investment assets 7 1,933 - - 6,953 8,886
Net movement in funds 1,933 - 500 (8,686) (6,253)
Reconciliation of funds:
Fund balances at 1 January 2023 23,945 991 - 199,206 224,142
Fund balances at 31 December 2023 25,878 991 500 190,520 217,889
**----- End of picture text -----**
All recognised gains and losses are included in the Statement of Financial Activities All income and expenditure derive from continuing activities. 7 ## **HOSPITALS OF ST BARTHOLOMEW AND ST JOHN** ## **BALANCE SHEET AS AT 31 DECEMBER 2024** **----- Start of picture text -----**
2024 2023
Note £ £ £ £
FIXED ASSETS
Tangible assets 6 24,423 26,654
Investments 7 152,013 149,328
176,436 175,982
CURRENT ASSETS
Debtors 8 1,634 1,514
Cash at bank and in hand 50,275 44,561
51,909 46,075
CREDITORS: amounts falling
due within one year 9 (4,724) (4,168)
NET CURRENT ASSETS 47,185 41,907
NET ASSETS 223,621 217,889
FUNDS
Permanent endowment fund 10 26,398 25,878
Expendable endowment fund 11 991 991
Restricted funds 13 - 500
Unrestricted funds:
Designated funds 12 149,047 149,113
General funds 47,185 41,407
196,232 190,520
14 223,621 217,889
**----- End of picture text -----**
Approved by the Board of Trustees on …......................... and signed on their behalf by: ………………………. Mrs S Moberly **Trustee** ………………………. Mrs H Molyneux-Gerken **Trustee** ………………………. Mr C Medlicott **Trustee** 8 ## **HOSPITALS OF ST BARTHOLOMEW AND ST JOHN** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **1. ACCOUNTING POLICIES** ## **1.1 Basis of preparation** Hospitals of St. Bartholomew and St. John is a registered charity with the Charity Commission in the England and Wales. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities is to provide accommodation for the elderly in need, who must be over the age of 60 and have lived in the Parish of St Leonards, Hythe for not less than 10 years. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## **1.2 Funds accounting** Unrestricted general funds are funds which can be used in accordance with the charitable objects at the discretion of the Trustees. Expendable endowment fund represents investments specifically named in the Scheme as forming the original expendable endowment. Designated funds represent funds invested in fixed assets. The designated fund balance has been represented to ensure that fund balance stated accurately reflects the designation policy adopted by the Trustees. Permanent endowment fund represents investments specifically named in the Scheme as forming the original permanent endowment. Any appreciation arising from this sum is shown as part of the permanent endowment fund. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. ## **1.3 Income recognition** All income included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. Contributions receieved from residents towards the running costs of the property is accounted for when received. ## **1.4 Expenditure recognition** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: 9 ## **HOSPITALS OF ST BARTHOLOMEW AND ST JOHN** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **1. ACCOUNTING POLICIES** ## **1.5 Tangible fixed assets** Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives as follows: Improvements to hospital - 10% reducing balance Computer Equipment - 3 years straight line The ownership of the almshouses was transferred to the charity following the amalgamation of two previous charities. No value had previously been placed on the almshouses and the Trustees are of the opinion that to undertake a formal valuation would be cost prohibitive and therefore they are included at nil value. ## **1.6 Investments** Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment. ## **1.7 Debtors and creditors receivable / payable within one year** Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. ## **1.8 Financial instruments** The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ## **1.9 Tax** The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. ## **1.10 Going concern** The financial statements have been prepared on a going concern basis as the Trustees believes that no material uncertainties exist. The Trustees has considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. ## **1.11 Judgements and key sources of estimation uncertainty** Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. ## Depreciation The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 7 for the carrying amount of the property plant and equipment, and note 1.5 for the useful economic lives for each class of assets. 10 ## **HOSPITALS OF ST BARTHOLOMEW AND ST JOHN** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **2 Permanent endowment invested on a total return basis** The charity has been granted the investment power of total return by the Charity on 7 August 1987. This power permits the Trustees to invest permanently endowed funds to maximise total return and therefore to apply an appropriate portion of the unapplied total return to income. The unapplied total return remains invested as part of the permanent endowment until that power is exercised. When exercised it allows the Trustees to apply an appropriate portion of the unapplied total return to income each year. |At 1 January 2024
Unapplied total return
Movements
Dividend return
Gains
Net movement in the year
At 31 December 2024|**Endowment**
**for**
**investment**
**£**
25,878
-
25,878
-
520
520
520
26,398|**Unapplied**
**Total**
**Return**
**£**
991
-
991
-
-
-
-
991|**Total**
**endowment**
**£**
26,869
-
26,869
-
520
520
520
27,389| |---|---|---|---| 11 ## **HOSPITALS OF ST BARTHOLOMEW AND ST JOHN** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** **----- Start of picture text -----**
3. EXPENDITURE Direct Support Total Total
Costs Costs 2024 2023
(Note 4)
£ £ £ £
Charitable activities:
Property running costs 34,481 12,209 46,690 53,269
Included in Direct costs is £500 of restricted expenditure.
4. SUPPORT COSTS Total Total
2024 2023
£ £
Depreciation 2,701 3,091
Subscriptions 353 343
Internet 457 436
Sundry 13 80
Contribution to Prioress's holiday 2,000 1,500
Clerk's salary 3,000 3,000
Professional fees - 1,290
Governance
Bookkeeping 325 325
Clerk's expenses 600 600
Independent examiner's fee 2,400 2,268
Other accountancy costs - meeting attendance 360 420
12,209 13,353
**----- End of picture text -----**
## **5. TRUSTEES REMUNERATION AND EXPENSES** The charity employed no staff during 2023 and 2024. None of the Trustees received remuneration or reimbursed expenses during the year (2023: nil). The Trustees consider the board of Trustees and the Clerk to the Trustees comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. As detailed above, no trustees received remuneration during the period. The remuneration to the key management personnel totalled £3,000 (2023: £3,000). 12 ## **HOSPITALS OF ST BARTHOLOMEW AND ST JOHN** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** |**6.**
**TANGIBLE FIXED ASSETS**
**Improvements to**
**the hospital and flats**
**£**
**Cost**
As at 1 January 2024 and at 31 December 2024
114,487
Additions
470|**6.**
**TANGIBLE FIXED ASSETS**
**Improvements to**
**the hospital and flats**
**£**
**Cost**
As at 1 January 2024 and at 31 December 2024
114,487
Additions
470| |---|---| |As at 31 December 2024|114,957| |**Depreciation**
As at 1 January 2024
Charge for the year|87,833
2,701| |As at 31 December 2024|90,534| |**Net Book Value**
As at 31 December 2024|24,423| |As at 31 December 2023|26,654| No value has been placed on the original buildings, which date from time immemorial, as it is the Trustees' intentions to incur expenditure charged to revenue to maintain buildings in a satisfactory condition. The Trustees do not consider the expense of obtaining a valuation of the buildings to be justified. |**7.**
**INVESTMENTS**
Market value at 1 January 2024
Additions
Proceeds on disposals
Unrealised and realised gains/(losses)
Interest added in year
**Market value at 31 December 2024**
The investments are categorised at the year end as follows:
Quoted investments not listed on recognised stock exchange
Cash on deposit
Historical cost at 31 December 2024 of non-cash investments
**Major Components**
Cash on deposit
COIF Investment Fund|**2024**
**£**
149,328
-
-
2,387
298
152,013
107,968
44,045
152,013
90,050
**£**
44,045
107,968|**2023**
**£**
140,406
-
-
8,886
36
149,328
105,583
43,745
149,328
90,050
**£**
43,745
105,583| |---|---|---| 13 ## **HOSPITALS OF ST BARTHOLOMEW AND ST JOHN** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** |**8.**
**DEBTORS**
Prepayments and Accrued Income
**9.**
**CREDITORS:**Amounts falling due within
Accrued expenses
**10. PERMANENT ENDOWMENT FUND**
**Permanent Endowment Fund - 2024**
**Permanent Endowment Fund - 2023**|one year
**Balance**
**brought**
**forward**
**£**
25,878
**Balance**
**brought**
**forward**
**£**
23,945|**Income**
**Expenditure**
**£**
**£**
-
-
**Income**
**Expenditure**
**£**
**£**
-
-
**Movement in Funds**
**Movement in Funds**|**2024**
**£**
1,634
**2024**
**£**
4,724
4,724
**Unrealised**
**gains**
**£**
520
**Unrealised**
**(losses)**
**£**
1,933|**2023**
**£**
1,514
**2023**
**£**
4,168
4,168
**Balance**
**carried**
**forward**
**£**
26,398
**Balance**
**carried**
**forward**
**£**
25,878| |---|---|---|---|---| The Permanent Endowment Fund represents the value of the original investments defined as permanent endowment in the charity's governing document. Any appreciation arising from this sum is shown as part of the permanent endowment fund. ## **11. EXPENDABLE ENDOWMENT FUND** |**Extraordinary Repair Fund - 2024**
**Extraordinary Repair Fund - 2023**|**Balance**
**brought**
**forward**
**£**
991
**Balance**
**brought**
**forward**
**£**
991|**Income**
**Expenditure**
**£**
**£**
-
-
**Income**
**Expenditure**
**£**
**£**
-
-
**Movement in Funds**
**Movement in Funds**|**Unrealised**
**gains**
**£**
-
**Unrealised**
**gains**
**£**
-|**Balance**
**carried**
**forward**
**£**
991
**Balance**
**carried**
**forward**
**£**
991| |---|---|---|---|---| The Extraordinary Repair Fund is for the purpose of providing for the extraordinary repair, improvement of rebuilding of the almshouses belonging to the charity. 14 ## **HOSPITALS OF ST BARTHOLOMEW AND ST JOHN** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **12. DESIGNATED FUNDS** |Fixed asset fund
Repair and renovation fund
Total
Fixed asset fund
Repair and renovation fund
Total
**2024**
**2023**|**Balance**
**brought**
**forward**
145,601
3,512
149,113
**Balance**
**brought**
**forward**
141,703
3,512
145,215|**£**
-
-
-
**£**
3,898
-
3,898
**New**
**designation**
**New**
**designation**|**£**
(66)
-
(66)
**£**
-
-
-
**Designation**
**released**
**Designation**
**released**|**Balance**
**carried**
**forward**
**£**
145,535
3,512
149,047
**Balance**
**carried**
**forward**
**£**
145,601
3,512
149,113| |---|---|---|---|---| The Fixed asset fund represents the value of tangible fixed assets and investments designated by the Trustees to provide an income stream. This is to protect the charity should there be a fall in contributions from residents due to voids in the occupancy of the Almshouses. The repair and renovation fund is to provide for future repairs and renovations for the flat-lets. ## **13. RESTRICTED FUNDS** |Wall repairs
750th Anniversary
Total
Wall repairs
750th Anniversary
Total
**2023**
**2024**|**Balance**
**brought**
**forward**
-
500
500
**Balance**
**brought**
**forward**
-
-
-|**£**
7,250
-
7,250
**£**
1,500
500
2,000
**Income**
**Income**|**£**
(500)
(500)
**£**
(1,500)
-
(1,500)
**Expenditure**
**Expenditure**|(7,250)
-
(7,250)
**£**
-
-
-
**Transfers**
**between**
**funds**
**Transfers**
**between**
**funds**|**Balance**
**carried**
**forward**
**£**
-
-
-
**Balance**
**carried**
**forward**
**£**
-
500
500| |---|---|---|---|---|---| The wall repairs fund relates to funds received to repair the historic wall of the almshouse. During the year, £7,250 was received in relation to wall repair costs incurred in the prior year. Such costs were previously paid out of the Unrestricted Fund and as such, a transfer was made from Restricted Fund to the Unrestricted Fund during the year. 750th Anniversary - funds received to celebrate the 750th anniversary in 2024. ## **14. ANALYSIS OF NET ASSETS BETWEEN FUNDS** |**E**
**Fund balances at 31 December 202**
Tangible fixed assets
Investments
Current assets
Current liabilities

**E**
**Fund balances at 31 December 202**
Tangible fixed assets
Investments
Current assets
Current liabilities|**Permanent**
**Expendable**
**ndowment**
**Endowment**
**£**
**£**
**4 are represented by:**
-
26,398
991
-
-
26,398
991
**Permanent**
**Expendable**
**ndowment**
**Endowment**
**£**
**£**
**3 are represented by:**
-
-
25,878
991
-
-
-
-
25,878
991|**Restricted**
**£**
-
-
-
-
-
**Restricted**
**£**
-
-
500
-
500|**Unrestricted**
**£**
-
-
51,909
(4,724)
47,185
**Unrestricted**
**£**
-
-
45,575
(4,168)
41,407|**Designated**
**£**
24,423
124,624
-
-
149,047
**Designated**
**£**
26,654
122,459
-
-
149,113|**Total**
**£**
24,423
152,013
51,909
(4,724)
223,621
**Total**
**£**
26,654
149,328
46,075
(4,168)
217,889| |---|---|---|---|---|---| **15. RELATED PARTY TRANSACTIONS** There were no related party transactions during the year (2023: None). 15