REGISTERED CHARttY NUMBER.. 214505 REPQRTOFTHE TRUSTEES AND UIIAUDITED FINANCIAL sfAYEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR SLEAFORD HOSPITAL Duncan & Toplis Limited IS Northgate $af0rd NG34 7BJ
SLEAFlD HOsPAL copirENTS OF THE FINANCIALSTATEMENTS FOR ThE YEAR ENDED 31 MARCH 2025 Report of the Trust¢¢s I to 2 Ihdependent Examlner's Report Statementof FinancialActfj¥6tles ststementof Fina111 Position Note5 to tho Mnanclal Statements 6 to 10 Detailed Ststemerbt of Fintial Adivitiès li
SLEAFORD HOSPITAi REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their report with the financial starements af the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and RepDrting by Charities". sratement of Recommended Pratt5 applicable to charitie5 preparing their accounts It) accordance with the Financi31 Reporting Standard applicable in ihe UK and Republic of Ireland IFRS 1021 (effective ljanuary 20191. OBJECTIVES AND A1VITIEs Oblertlve5 and alm5 To provide accommodation in the forrn of Almshouses lor single or married persons from withln the geographical aTeas as detailed within the scheme under the au5pKesof the Charity Cotntnission. Significant acttvitie5 To continually maintain and update the accommDdatiori. Ensure all residents financialw coniribute and live within the conditions of their a8reement. Public ben¢fit ACHIEVEMENT AND PERFORMANCE Trusiees continually review the conditions of the flats ro ensure they are maintained to a hiEh standard. Repairs and up8iades are tarried out when necessary. Should a flat become vacant the objective is to apFx)int another beneficiary as 500n 35 posslble to ensure iniorne is maximised. FINANCIAL REVIEW FlnaTh¢lal p051tlon Accounts produced and independèntlyexamined on an annual ba51S. Surplus funds are held in M&G Alrnshouses funds investments and used to rnaintain premises. Total reserves at 31 March 2025 were É275,959 12024.. £267.8191 consistins of £142.863 of unrestricted funds and £133,096 of restricted fund5. FUTURE PLANS The charily has immediate pl3n5 for replacement wndows for the properties within the next financial year, as well 35 minor repairs nd general upkeep of the individual flats between tenancies. STRUCTURE, GOVERNANCE AND MANAGEMENT Go¥erning document The charity is controlkd by its governing (*xument, a deed of trust and constitutes an unincoTporated charitv. Oryanisational 5trurtyr¢ The organisational structure 15 as follows.. Al Trust Deed 81 Charity Commission Scheme Cl 6 Co-opÈrative Trusiees 2 Nominatwe Trustees Appointmem arsd trainin8 of new trustees The charity relies on volunteers being apFvinted as Trustees, often through Word of mourh and formally appointed at Trustees meetinES. Anytr3inin8 required is provided by the existin8 Trustee5. REFERENCE AND ADMINISTRATIVE DEfAILS ReÉlstered Charfty num1 Z1451 Prin¢ip41 address 7 Berkeley Court Sleaford ncolnshire NG34 Pa8e I
SLEAFORD HOSPITAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Trurtee5 N Musson Mrs M Yarram A SrK>Dkes Rev P Johnson O Marria8e Mrs K Hockmryer Cllr M Smith Ms F Hopkins P Tarry Independent ExavnlnÈr Duncan & Toplis Limited 18 Northgate Sleaford NG34 78J Approved by order f the board of trustees on and signed on its behalf by N Musson-Trustee Page 2
INDEPENDENT EXAMINER'5 REPORT TO THE TRUSTEE5 OF SLEAFORD HOSPITAL IndepeThdentexaminer's report to the ttusttes of Sleaford Hospital I report to the charity trustees on my eXaMition af the attounts of Sleaford Hospital Ithe Trustl for the year ended 31 March 2025. Rt5ptsnsibillties and basls of roport As the charity trustees of the Trust you are respon5iNe for the preparation of the accounts In accerdantr with the requirements of the Charit$ Art 20111'the Act'l. l Teport in respect of my examination of the Trust's accounts carried our under Section 14S of the Att and Sn carryln8 Out my examination I have followed all applicable Directions given by the Charity Commission under Section 14515llbl of the Act. kndépÈndÈnt examinevs #atement I have completed rny examination. I confirm that no m3terial rnatters have come to my attention in connertion with the examination Eivin8 me cause to believe that in any material respect.. accountin8 rÈcords were not kept in respeci of the Trust a5 required by Section 130 of the Act,. or the accounis do not 3ccord with those records,- or the accounts do not comply with ihe applicable requirernents concerning the form and content of aicounts set out in the Charitie5 (Accounts and Reportsl Re8ulaiions 2QNJ8 orher than any requirement that the account5 give a true ènd fair view which is nor a matter considered as part ol an Independent eKaminaiion. I have no concerns and have come across no other matter5 in conneciion with the examination to which attention shouw be drawn in this repDrt in order to enable a proper uTrdersrarKliryq of the accounts to be reached. Fi Duncan & Toplis Limited 18 Northgate Sleaford NG34 78J Date.. Pa8e 3
SLEAFORD HOSPITAL STATEMENTOF FINANUALAcnviTIES FOR THE YEAR ENDED 31 MARCH 2025 2025 Total fvnds 2024 Total funds Unrestricted fund Restricted funds Notes INCOME AND ENDOWMÈNTS FROM O)aritèble actlWiLies 105.712 105,712 103,978 Investment Income 4,494 8,639 13,133 12,(M)9 Total 110,206 8.639 118.845 115.987 EXPENDITURE Ot4 (harltable artItieS Charitable activities 82,385 26,306 108.691 135,652 Other 2,014 2,014 1,795 Totsl 84,399 26,306 110,705 13?.447 NET INCOMEIIEXPENDITUREI Transfer¥ between funds 25,807 18,2401 117.6671 8,240 8,140 121,4601 Nrt movement In funds 17,567 19,4271 8,140 12J.4fy)1 AECONCILIATrON OF FUNDS Total fund5 brought forward 125.296 142,523 267,819 289,279 TOTAI FUNDS CARRIED FORWARD 142.863 133.096 275.959 267,819 The notes form part of these financial statements PaÉe 4
SLEAFORD HOSPITAL STATEMENT OF FINANCIAL posinoN 31 MARCH 2025 2025 Tot31 funds 2024 Total funds Unrestnrted fund Restricted funds Notes FIXED A55ETS Investments 97.516 133,096 230,622 238,958 CURRENT ASSErs Debtors Cash at bank and in hand 332 47.281 332 47,281 358 29.852 47.613 47,613 30.210 CREDITORS Amount5 falling due wthin one year 12.2761 12,2761 11,3491 N(vIM1eNT ASSErs 45,337 45,337 28,861 TOTALASSETS LESS OJRRENT LIA81LITIES 142,863 133,096 175,959 267,819 NAsSET5 142,863 133,096 275,959 267,819 FUNDS Unrestritted funds Restriued fvnds 142,863 133,096 125.296 142.513 TOTAL FUNDS 275,9S9 267.819 The financial statements were approved by the Board of Trustees and authorised for issue on were signed on its behalf bv-. and on- Trustee The notes form part of these financial Statements Pa8e 5
SLEAFORO MOSPITAL NOTES TOTHE FINANCIAI5TATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POUCIES Basls of preparing thefinanrial statEvnents The financial statements of the charity. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charitie5 SORP IFRS 1021 'Accounting and Reportin8 by Charities." Starement of Recommended Practice applicable to charities preparinE their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republit of Ireland IFRS 1021 leffeciive l January 20191,. Fin3ncial Reporting stsndard 102 'The Financial ReportSn8 Standard applicable In the UK and Republit of Ireland, and the Charitie5 Act 2011. The finèncial statements have been prÈp3red under the historical c05t convention. with the exception ef investments which are intluded at market value, as modrfied bv the revaluation of certain assets. Income All income is recognwd in the Statement of Flnancial Activitie5 Dnce the charSty has entitlernent to the funds, rt is probable that the income will be reived and the arnount can be measured reliablv. Expendlture Liabilities are recognised 35 expenditure as soon as there is a le8al or construttive obligation rommlttlnE the charity to that expenditure. it is probable thar a transfer of economic benefits will be required In settlernent ènd ihe amount of the obli8ation can be measured reliably Expenditure Is accounted for on an accruals basis and has been classified under headin85 that a88re8ate all lost relaied 10 the category. Where costs cannot be dirertly attributed to particular hpadin8S they have been alloc*ed to attivitieson a basis consistent with the use of resources. Taxat The chanty is exempt from on its tritable actbvities. Fund auountin8 Unrestricted fun¢ts can be used in accordance with the charitable objèctives èi the discretiori of the trustees. Re5triited funds can only be used for particular restricted purposes wlthln the objects of the £harlty. Restrictions arise when specified by the donor or when funds are raised for par[Ular restricied purposes Further explanation of the nèiure and purpose of each fund Is included in the notes to the financial statements. Pension costs and other post-retirement benefits The charity operates a defined contribution pension scheffle. Contriburion5 payable tts ihe charitV'5 pension scheme are charged to the Statemeni of fin3niial Activitie5 in the period to which they relatt. INVESTMENT INCOME 2025 2024 Interest e1ved Gain on investment revaluation 9D3 12,230 845 11,164 13,133 12,009 TRUSTEE5' REMUNEIiITION AND BENEFITS There were no trustees, rernuneration or othèr benefits for the year ended 31 Marth 2025 nor for the year ended 31 March 2024. Trustees. expense5 There were no trustEes' expenses paid for the year ended 31 Mafch 2025 nDr for Iheyear ended 31 March 2024. Pa8e 6 continued.,.
SLEAFORD HOSPITAL NOTES TO THE FINANCIAL STATEMENTS- ¢oTrtinu•d FOR THE YEAR ENOED 31 MARCH 2025 STAFF COSTS The è¥era8e monthly number of employees duringthe year wa5 a5 follows.. 2025 2024 Charitable activltles No ernployees rècèived emoluments In excessof £,000. COMPARATIVES FOR THÉ sfATEMENTOF FINANOAiACTIVITIES Unre£tricted fund Restrlcied funds Total funds INCOMEANDENDOWMENTSFROM 103.978 103,978 Investment income 2,307 9,702 12,fYJ9 Total 106,285 9,702 115,987 EXPENDITURE 014 Charitsble arttIeS 82.193 53.459 135,652 othe 1.795 1,795 Total 83,988 53.459 137,447 NET INCOMEIIEXPÉNDITUREI 22,297 143,7571 121,4601 RECONCIUATION OF FUNDS Total fund5 brou8ht forward 102,999 186,2BO 289.Z79 TOTAL FUNDS CARRIED FORWARO 125,296 142,513 267,819 FIXEDASSET INVESTMENTS investments MARKET VAIUE At l April 2024 Additions Disp0581s Revaluation5 238,957 1,435 122.0(M)I 12,230 At 31 March 2025 230.622 NEf BOOK VALUE At 31 March 2025 230,622 At 31 March 2024 238,957 There were no investment 455ets oUtse the UK. Page 7 continued...
SLEAFORD HOSPITAL NOTESTO THE FINANCIAL STATEMENTS-£ontinued FOR THE YÉAR ENDED 31 MARCH 2025 FIXED ASSET INVESTMENTS. continued Cosr or valuation at 31 March 2025 15 repfesented by-. Listed Investrnents Valuation in 2022 Valuation In 2023 Valuation in 2024 Valuarion in 2025 Cost 20,190 19981 11.164 12,23D 188,036 230,622 DEBTORS.. AMOUNTS FALUP4G DUE WITHIN ONE YEAR 2025 2024 Prepayrnents and accrued income 332 358 CRET05.. AMOUNTS FALUNG DUE WITHIN ONE YEAR 2025 2024 Taxarion and social secuTIty Other creditors 691 1,585 1,349 2.276 1,349 MOVEMENT IN FUND5 Net rnovement in funds Transfers between funds At 31.3.25 At 1.4.24 UDrestrictedlunds General fund 125,296 25.807 18,2401 142,863 Restricted fund$ 2LX55 Recoupment Fund Extraordinary Repairs Fund 31.031 111,492 131.0311 39,271 117,6671 133.096 142,523 117,6671 8,240 133,096 TOTAL FUNDS 267,819 8,140 275,959 Net rnovement in funds, included in the èbove are as follow5.. Incomin8 esources Resources eKpEnded MovemEni In fvnds Unrestritted fund$ General fund 110,206 184.3991 25,807 Restricted funds Extraordinary Repairs Fund 8,639 126,3061 117,6671 TOTAL FUNDS 118,845 1110,7051 8,140 Pa8e 8 continued...
SLEAFORD HOSPITAL NOTES TOTME FINANaAL5TATEMENTS- eontlnued FOR THE YEAR ENDED 31 MARCH 1025 MOVEMENT IN FUNDS- contjnued ComparatlVE5 formo¥ement in funds Net movement In funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 102.999 22,297 125,296 Restrirted funds 25 Recoupment Fund Extraordinary Repairs Fund 29,496 156,784 1.535 145,2921 31,031 111,492 186.280 143,7571 142,523 TOTAL FUNDS 289,279 121.4601 267,819 Comparatwe net movement In fvnd5, included in the above are as follow5.' Incorning resources Resources expended Movement in funds Unrestricted funds General fund 106,285 183,9881 22,297 Restyirted fvnds 2005 Recoupment Fund Extraordinary Repairs Fund 1.535 ,167 1,535 145,2921 153,4591 9,702 153,4591 143.7571 TOTALFUNDS 115,987 1137,4471 121.4601 A current year 12 months and prior year 12 months combined position is as follows.. Net movement in fund5 Transfers between fund5 At 31.3.25 At 1.4.23 LlnrestricttdfL¢t)d$ General fund 102,999 48.104 18,2401 142,863 Restrlrted funds 2(X)5 Reioupment Fund Exrraordinary Repairs Fund 29,496 156,784 1,535 162,9591 131.0311 39,271 133.096 186,280 161,4241 8,240 133,096 TOTAL FUNDS 289,279 113,3201 275,959 Pa8e 9 continued...
SLEAFORD HOSPITAL NOTESTO THE FINANCIAL STATEMENTS- wntinued FOR THE YEAR ENDED XI MARCH 2025 MOVEMENT IN FUNDS- contlnuod A current veèr 12 Th)nth5 and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming rÈsources Resources expended Movement in funds Unrestricted lunds General fund 216.491 1168,3871 48.104 Restricted funds 2WS Recouwnenl Fund Extravdin3ry Repairs Fund 1,535 16,806 1,535 162,9591 179,7651 18,341 179,7651 161,4241 TOTAL FUNDS 234,832 1248,1521 113,3201 The Extraordinary Repairs Fund is in plaie to coveremer8enty and maior n-routine repairs and improvement5. Transfers betweeTh fvnds The 2(NJ5 Recoupment Fund existed to repay ihe 2005 loan. given this has been repaid the fund has been transferred into thÈ 8eneial fund. io. RELATED PARTY DISCLOSURES There were no related partytransacrions for the year ended 31 March 2025. Pa8e 10
SLEAFORD HOSPITAL DETAILED STATEMENT OF FINANCIAL A1VITIEs FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 INCOME A14D EPIWWMENTS tharitable activitlts Subscriptions Investment Income 102.242 3.470 99,917 4,061 105.712 103.978 In¥estment Income Interest received Gain on investment revaluatlon 903 12,230 845 11.164 13,133 12,(M)9 Tmal Incornin8 resources 118,845 115,987 EXPENDITURE aritable ¥ct4Vitie5 Wages Pen5ion5 R3tes and water 8ht and heat TephOne Subscription5 SundrEs Repairs ènd renewals Insurance 16.127 261 3.997 14,844 l.S60 $70 119 61,319 4.930 13.455 219 4.298 11,371 1,369 410 354 94,455 5.147 103,727 131,078 Support costs FlnaThcfr 8ank charges HhlAC interest 141 27 222 222 Govemante t¥¥#S Accountancy fee5 Professional fees 2.090 4.720 1.843 4.304 6.810 6.147 Total resources expended 110,705 137,447 Net Incornollexpendltulel 8,140 121,4601 This paÉe does nor lorm part of the Statutory financial sratements Pa8e 11