LLANRHAEADR HOSPITAL TRUSTEES
TRUSTEE ANNUAL REPORT AND ACCOUNTS FOR 12 MONTHS ENDED 31 MARCH 2021
HAROLD SMITH CHARTERED ACCOUNTANTS ST. ASAPH & CRICCIETH
Registered with the Charity Commission Number 213613
LLANRHAEADR HOSPITAL TRUSTEES TRUSTEES' REPORT
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The Trustees present their report and financial statements fot the year ended 31 March 2021.
The financial statements have been prepared in accordance with UK Generally Accepted Accounting Practice (UK GAAP) including Financial Reporting Standard 102 (FRS102) and the Housing SORP 2014: Statement of Recommended Practice for Registered Social Housing Providers and comply with Accounting Direction for Private Registered Providers of Social Housing 2015.
Llanfwrog Hospital Trustees is a Registered Charity governed by a Memorandum & Articles of Association dated 24 June 1998.
Reference and Administrative Details:
| Registered Office; | 47 Vale Street |
|---|---|
| Denbigh | |
| LL16 3AR | |
| Charity Registration Number; | 213613 |
| Independent Examiners; | The Harold Smith Partnership |
| Chartered Accountants | |
| 32 Llys Edmund Prys | |
| St. Asaph Business Park | |
| ST. ASAPH | |
| Denbighshire | |
| LL17 0JA | |
| Trustees; | James Roger Jones |
| Philip Owen Williams | |
| David Clwyd Roberts | |
| Meriel Stark | |
| Jessica Craft |
LLANRHAEADR HOSPITAL TRUSTEES
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TRUSTEES’ REPORT
The Trustees present their report and the accounts of the charity for the year ended 31 March 2021.
OBJECTIVES OF THE CHARITY AND ITS PRINCIPAL ACTIVITIES
The objects of the charity are: (1) the provision of housing accommodation for benficiaries; and (2) such charitable purposes for the benefit of the residents as the trustees decide. (3) The land identified in part two of the schedule to this scheme must be retained by the trustees for use for the objects of the charity. (4) the relief of persons resident int he area of beneit who are in need, hardship or distress by (a) making grants if money to them; or (b) providing or payingfor goods, services or facilities for them; or (c) making grants of money to other persons or bodies who provide goods, services or facilities to those in need. (5) the provision of an annual sermon by the Rector of Llanfwrog or by his nominee or by the Priest in Charge for such fee as the trustees think fit.
FINANCIAL REVIEW
A review of the TrustFinances is undertaken during the trustees meetings and kept under review by the agent on a day to day basis.
RESERVES POLICY
The policy of the trust is to maintain a sufficient fund to allow for the repair and maintenance of the trust houses and to set aside a small sinking fund for future long term renewals that may accure.
FUTURE FUNDING OF THE COMPANY
Regarding future funding of the company there are no proposals to change the future funding of the trust, which is entirely by way of rent recieved.
RESPONSIBILITIES OF TRUSTEES
The Trustees responsibilities are to ensure that the property are fully let, are maintained to a good standard and to ensure that any Trust money is spent appropriately. They are also responsible for the well-being of the resident and responsible for organising an annual sermon. the trustees ensure that the position of Chairman is reviewed regularly and in accordance with the constitution.
Approved by the Board on 2021 and signed on their behalf by;
…………………………
CHARITY SECRETARY
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INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF
LLANRHAEADR HOSPITAL TRUSTEES
We report on the accounts of the charity for the year ended 31 March 2021 which comprise the statement of financial activities and Balance Sheet and the related notes. Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is our reponsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
Our examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a true and fair' view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to our attention
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which gives us reasonable cause to believe that in, any material respect, the requirements: · to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
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to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
................................................. Dated …………………............
Simon Murray-Williams FCA for and on behalf of Harold Smith Chartered Accountants St. Asaph Business Park Denbighshire LL17 0JA
LLANRHAEADR HOSPITAL TRUSTEES
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STATEMENT OF COMPREHENSIVE INCOME
YEAR ENDED 31 MARCH 2021
| Notes Turnover Operating Costs Operating Surplus Interest and Dividends Received 9 Surplus/Deficit for the year before Transfers Transfer to Reserves Surplus after Transfers |
2021 2020 £ £ 32,729 30,195 (18,448) (20,070) 14,281 10,125 301 259 14,582 10,384 (14,582) (10,384) - - |
|
|---|---|---|
All amounts relate to continuing activities
The above surplus are the historical cost surplus investments All Recognised gains and losses are included in this statement The above reflects the structure and basis of preparation as referred to in Note 1
LLANRHAEADR HOSPITAL TRUSTEES
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YEAR ENDED 31 MARCH 2021
STATEMENT OF FINANCIAL ACTIVITIES
| Income Rents Receivable Resources Expended Insurance Agents Fees Heat & Light Rates Subscriptions Repairs Legal Compensation Rent Overpayment Governance Costs Bank Charges Total Resources Expended Operating Income less Costs Financing Income and Costs Interest and Dividends Received 6 Unrealised Gain/(Losses) on Investments Net Movement in Reserves Reserves (General) Balance brought forward - 1 April 2020 Balance carried forward - 31 March 2021 |
2021 £ 32,729 32,729 2,910 4,620 - 700 162 9,976 - - 50 720 30 19,168 13,561 301 13,862 0 13,862 536,794 550,656 |
2020 £ 30,195 |
||
|---|---|---|---|---|
| 30,195 3,205 3,661 - 607 160 9,552 2,150 - 50 684 - |
||||
| 20,070 | ||||
| 10,125 259 |
||||
| 10,383 0 |
||||
| 10,383 526,411 |
||||
| 536,794 |
LLANRHAEADR HOSPITAL TRUSTEES
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BALANCE SHEET AS AT 31 MARCH 2021
| Notes Fixed Assets Tangible Assets 2 Current Assets Investments 3 Debtors 4 Cash at Bank Current Liabilities Amounts falling due within one year 5 Amounts falling due after one year 7 Net Current Assets Total Assets less Current Liabilities Reserves Bfwd 01 04 2020 8 Movement 31 03 2021 8 Restricted 01 04 2020 8 |
2021 496,234 496,234 21,431 3,950 32,383 57,764 (447) (720) 56,597 552,832 552,832 536,794 13,862 2,175 552,831 |
2020 294,621 |
|---|---|---|
| 294,621 | ||
| 821 4,214 240,443 |
||
| 245,479 (1,131) 0 |
||
| 244,348 | ||
| 538,969 | ||
| 538,969 | ||
| 526,411 10,383 2,175 |
||
| 538,969 |
The above statement reflects the structure and the basis of preparation referred to in Note 1
Signed on its behalf
……………………. Member ………………….. Officer
LLANRHAEADR HOSPITAL TRUSTEES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
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1 ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Basis of preparation
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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Llanfwrog Hospital Trustees meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The trustees have a reasonable expectation that the charity has adequate resourses to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
Reconciliation with previous Generally Accepted Accounting Practice
In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 AND THE Charities SORP FRS 102 the restatement of comparative items was required. The trustees have reviewed the transactions and have determined that no amendment to the comparative figures is required, other than a presentational amendment.
a) Donated and Grant Income:
Donated income and grants receivable are taken into account when received by the charity. Income received in circumstances where a claim for repayment of tax has been or will be made to HM Revenue & Customs is grossed up for the tax recoverable. Any amount of tax reclaimed from HM Revenue & Customs but not yet received is shown within the charity's
debtors.
b) Other Income and Expenditure:
Investment income is taken into account when receivable and expenditure, including irrecoverable VAT, when incurred by the charity, regardless of when payment is made. Grants payable are taken into account at the earlier of when they are paid or become constructive obligations.
c) Funds:
Unrestricted funds are donations and other income received or generated for the objects of the charity without specified purpose and are available for purposes as directed by the Trustees. Restricted funds are amounts received where the donor has specified the purpose for which it should be used.
LLANRHAEADR HOSPITAL TRUSTEES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
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1 ACCOUNTING POLICIES (continued)
d) Fixed Assets and Depreciation:
Fixed Assets acquired for use by the charity are capitalised and depreciated over their estimated useful life unless they are of low value when they are written off on purchase.
e) Taxation
The company is a registered charity and is exempt from taxation under the Income & Corporation Taxes Acts.
f) Cash Flow Statement
The company has taken advantage of the exemption provided by the Financial Reporting Standard and has not prepared a Cash Flow Statement for the year.
2 TANGIBLE FIXED ASSETS
| 2 TANGIBLE FIXED ASSETS |
||
|---|---|---|
| Freehold Land & Buildings £ Cost At 1 April 2020 294,621 Additions 201,613 At 31 March 2021 496,234 Depreciation At 1 April 2020 - Charge for the Period - At 31 March 2021 - Net Book Value At 31 March 2021 496,234 At 31 March 2020 294,621 |
£ - - - - - - - - |
Total £ 294,621 201,613 |
| 496,234 | ||
| - - |
||
| - | ||
| 496,234 | ||
| 294,621 |
LLANRHAEADR HOSPITAL TRUSTEES
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| 3 INVESTMENTS COIF Acc 80028001C Unrealised (Losses)/Gains on Investments At Market Value 4 DEBTORS: AMOUNTS DUE WITHIN ONE YEAR Rent Arrears Prepayment 5 CREDITORS: AMOUNTS DUE WITHIN ONE YEAR Loan Accruals and Deferred Income |
2021 £ 21,431 0 21,431 3,950 0 3,950 0 447 447 |
2020 £ 65,237 0 |
||
|---|---|---|---|---|
| 65,237 | ||||
| 4,214 0 |
||||
| 4,214 | ||||
| 0 684 |
||||
| 684 |
LLANRHAEADR HOSPITAL TRUSTEES
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| 6 INTEREST AND DIVIDENDS RECEIVED Interest Receivable 7 ACCOUNTANTS' REMUNERATION In their capacity as Independent Examiners |
2021 £ 301 301 720 720 |
2020 £ 259 |
||
|---|---|---|---|---|
| 259 | ||||
| 684 | ||||
| 684 |
8 RESTRICTED FUNDS
The restricted funds represent amounts received for specific purposes and the movements in the year are as folows;
| General Fund Restricted |
Opening Balance Incoming Resources Outgoing Resources Transfers in Year Closing Balance |
|---|---|
| 536,794 33,030 (19,168) - 550,656 2,175 - - - 2,175 |
|
| 538,969 33,030 (19,168) - 552,831 |