## **LLANFWROG 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 213614**
**LLANFWROG HOSPITAL TRUSTEES TRUSTEES' REPORT**
2
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;|31 Market Street|
|---|---|---|
|||Abergele|
|||LL22 7AF|
|Charity Registration Number;||213614|
|Independent Examiners;||The Harold Smith Partnership|
|||Chartered Accountants|
|||32 Llys Edmund Prys|
|||St. Asaph Business Park|
|||ST. ASAPH|
|||Denbighshire|
|||LL17 0JA|
|Trustees;|Emrys Williams -|Henblas, Cyffylliog, Ruthin, Denbighshire, LL15 2DP|
||Emyr W Lloyd -|Trem Foel, Mwrog Street, Ruthin, Denbighshire, LL15 1LG|
||Gruffydd O Richards -|Lluest, Denbigh Road, Ruthin, Denbighshire, LL15 1PE|
||Arnold Hughes-|Argoed, Llanfwrog, Ruthin, Denbighshire|
||David Edwards -|Ty Cefn, Llanfwrog, Ruthin, Denbighshire, LL15 2AE|
||Ms Morfudd Jones -|Erw Fair, Tan Y Castell, Ruthin, Denbighshire, LL15 1DQ|
||Thomas A Daulby_(Agent)_-
Jones Peckover, 61 Market Street, Abergele, LL22 7AF||
**LLANFWROG HOSPITAL TRUSTEES**
3
## **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**
4
## **INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF**
## **LLANFWROG 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:
- examine the accounts under section 145 of the Charities Act,
- 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
- 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
1. 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
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
2. 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
5
## **LLANFWROG HOSPITAL TRUSTEES**
## **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**
£
34,893
(14,044)
20,849
14
**20,863**
20,863
-||**2020**
£
32,741
(10,731)|
|---|---|---|---|---|
|||||22,010
24|
|||||**22,034**
(22,034)|
|||||-|
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
6
## **LLANFWROG HOSPITAL TRUSTEES**
## **YEAR ENDED 31 MARCH 2021**
## **STATEMENT OF FINANCIAL ACTIVITIES**
|**Income**
Rents Receivable
Bank Loan Excess
**Resources Expended**
Insurance
Agents Fees
Heat & Light
Rates
Subscriptions
Repairs
Loan Interest
Cleaning
Governance Costs
**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**
**Balance brought forward - 1 April 2020**
**Balance carried forward - 31 March 2021**||**2021**
**£**
34,828
65
34,893
3,828
4,506
926
75
361
3,264
63
1,021
720
14,764
20,129
14
20,143
0
20,143
654,193
674,336||**2020**
**£**
32,741
0|
|---|---|---|---|---|
||||
|32,741
1,904
3,679
1,513
105
-
1,630
328
889
684|
|||||10,731|
|||||22,010
24|
|||||22,034
0|
||||22,034
632,159||
||||654,193||
7
## **LLANFWROG HOSPITAL TRUSTEES**
## **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|**2021**
619,814
619,814
5,288
4,757
45,881
55,926
(684)
(720)
54,522
674,336
**674,336**
654,193
20,143
**674,336**|**2020**
619,814|
|---|---|---|
|||619,814|
|||5,274
2,607
33,203|
|||41,084
(6,022)
(684)|
|||34,378|
|||654,192|
|||**654,193**|
|||632,159
22,034|
|||**654,193**|
The above statement reflects the structure and the basis of preparation referred to in Note 1
Signed on its behalf
……………………. Member ………………….. Officer
**LLANFWROG HOSPITAL TRUSTEES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
8
## 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.
**LLANFWROG HOSPITAL TRUSTEES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
9
## **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**||||
|---|---|---|---|
|**Cost**
At 1 April 2020
At 31 March 2021
**Depreciation**
At 1 April 2020
Charge for the Period
At 31 March 2021
**Net Book Value**
At 31 March 2021
At 31 March 2020|**Freehold Land**
**& Buildings**
**£**
619,814
619,814
-
-
-
**619,814**
**619,814**|**£**
-
-
-
-
-
-
-|**Total**
**£**
619,814|
||||619,814|
||||-
-|
||||-|
||||**619,814**|
|||||
||||**619,814**|
10
## **LLANFWROG HOSPITAL TRUSTEES**
## **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**
**£**
5,288
0
5,288
4,757
0
4,757
0
684
684||**2020**
**£**
5,274
0|
|---|---|---|---|---|
|||||5,274|
|||||2,607
0|
|||||2,607|
|||||9,113
684|
|||||9,797|
11
## **LLANFWROG HOSPITAL TRUSTEES**
## **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**
**£**
14
14
720
720||**2020**
**£**
24|
|---|---|---|---|---|
|||||24|
|||||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|**Opening**
**Balance**
**Incoming**
**Resources**
**Outgoing**
**Resources**
**Transfers**
**in Year**
**Closing**
**Balance**|
|---|---|
||654,193
34,907
(14,764)
674,336|
||**654,193**
**34,907**
**(14,764)**
**0**
**674,336**|