Chity ReglJtralloTr No. 216831
LORD LEYCESTER'S HOSPITAL
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

LORD LEYCESTER'S HOSPITAL
LEGAL AND ADMINISTRATIVE INFORMATION
Trusteej
The Rt Hon The Visc(yJnt De L'ls18 C.V.O M.B.E - Patron
Mr T Cox H.M Lord Lleulenanl
Mr J Chambgrs
Mr M Sewell
Dr The Hon P Sldney
Mr5 C Cross
{resigned 15th February 2024)
Mrs L Fellows
lappoinled 4th Marth 20241
air D Sklnner {apprynted 4th March 2024)
218831
Charlty numb•r
Prfnclpal addro
Lord Leycesterfs Hospltal
60 High Street
Warwick
CV34 4BH
Bankers
Lloyds TS8 Group PLC
12 Swan St
W8rwlck
CV34 4
Sollcltors
Moore & mbbits
3446 High Street
Warwick
CV34 4BE
Invo8trnernt managofs
Smith & Wlllamson Investment Services Limited
25 Moorgate
London
EC2R 6AY
Audltoys
Ellaeotts Audll SefViCeS Limtted
Counlry%Mde House
23 West Bar
Banbury
OX16 9SA
The Ma8tsr
Dr H Meyer
Clerk to the Govem
Mr J Wassall

LORD LEYCESTER'S HOSPITAL
CONTENTS
Pago
Tru51ees rep)rt
statemenl of Tru$ta8s responsibilities
Independent audi￿8 report
ststement of flnancial activlUg8
9-10
Balance sheet
11
Notes to the finandal ststements
12-23

LORD LEYCESTER'S HOSPITAL
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present thelr r8POrt and finand81 sl8temgnts for the year ended 31 D8cemb8r 2023.
The financl81 ststements have been prepared in accordgnce with the accounting polcles 8et out in note 1 to the
Ilnancial statements and Comply with Ihe charity's goveming document. the Charities Act 2011 and "ACe￿ntIng
and Reporting by Charibes: Ststement of Recommended Practice applicable to charit￿5 preparfng their acL¥)unts
in ac(￿rdance wth the Flnanclal Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102r las
amended for accounting periods commencing frcffl 1 January 20191.
The Tnjstees of Lord Leycesterfs Hospital are 8lso the Govemors of th8 tharity.
REFERENCE AND ADMINISTRATIVE DEfAILS
Lord Leycesltt's Hospital's ch8rtty number, prfndpal office, Its Ilsl of Trustees and all it5 key advlsors are set out
on legal and admin18tralive information page at the front of Iheso Finanaal Ststements.
The lyoard of Trustees have delegated the day4trday activities ofthe charfty to the Mastsr.
OBJECTIVES AND ACTIVITIES
The Charty provides almshouse accommodatSon al Hlgh SEreel, Warwick for poor and deserving gx-sorvicemen
ènd their wves who have serva(I In the armed forces of the crown being men of the particular dasses herelnafter
specified in ￿der ot preference. that Is lo say-"
FIRST those m8n who were (lisabled durlng their Servi￿ and who have resSded for al least four years preferably
in the Borough of Warwlck, the Parish of Kenllworth or the Borough of Stratford upon Avon. all in the County of
Warwick, or In the Parish of Wootton under Edge or the Parish ofArfingham. both In the County of Gloucester. but
$ubjecl thereto anyvthere in the County of Wgrwck,.
SECONDLY Ihose men were not disabled during their seryiG8 but have resided 88 above mentioned.,
TrIIRDLY those men who were not dlsabled during thelr servl¢e but who h8v& not resided as above mentioned.
To achieve these objectives the Charity has to maintaln the historic medieval pmpety. 11 generates income from
the propety lo malntaln the property and to provide the almshouse 8coommodat60n.
The Charity is required to prowde aemmmodauon for the Master who15 responsblo for the govemment ol the
Brethren.
The Charfty derives incom8 from the 8dmlssion of1he general publlc lo the hlstorfc bJildings- whlch Indude Ihe
Guildhall. the Great Hall, St James'g Chapel, th& Master's House and the Brethren's lfjtchen - and letting5 for
8vents.
The Charlty also dwive5 rental income from dwellings Withln the Hospital￿ buildlngs.
In 8ddilion, Ihe Ch8rfty sed(s regular flnandal support frcffi Swvice charfl￿$, Charitable Trusts and other
benefaclrys.
To protsGI the long-temi security of the Hospltsl the Trustees have applled lo the National Lottery Herltage Fund
lo support a malor project to protect the bulldings and lo improve 8nt1 expand the visitor exparience. with the vlew
to maklng the Hospital financaally self-suslaining In future. This improvem8ntto the propty Conlnued durfng much
of2023, mostly completed by September. allowing the Hospital lo open lorvlsllors 89aln in Septefflber2023. Wo
to improve the marketing and Vl￿trjr experience will conljnue into 2025.

LORD LEYCESTER'S HOSPITAL
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Publ1¢ b•no
The Govemors have had regard to guldance publlshe•J by the Charfty ¢(￿mIss￿￿￿ on public benellL Puljl
benefit is achieved through the provlslon of homes for retired ex-servlcemen and th￿r wives, and the mainlenan
of the anoent building$ of the Hosprtal that form part of the nalon's heritage. for educallonal, recrealional, and
other community activities.
ACHIEVEMENTS AND PERFORMANCE
Ch¥habh acllvlti
The Trustees have succeeded in prowding homes ffx ex-servicemen and their wlves In accordancè with Ihe
Charitys objectives, plus a Hdmand veteran who received I￿e-changIng injuries anii now r8sides amongst the
Brethren al the Lord LewAster Hospltal.
LLH 450 Project- funded by National Lottery H•rltagg Fund (NLHF) & CopItsI Campalgn
In a majoreffortlo achlgvo financial sdf-sustalnablllty through repair, conservation and improved vlsltor experfence.
d￿slon was token by th8 Govemors in 2019 to apply for a national level NLHF grant ond to launch a campalgn
to raise partner funds. The Round 2 NLHF applicalion. for a restOTallon and improvement project, was approved
by NLHF in September 2021. The work started in July 2022 and It Was mosty cornpleted by the end of September
2023. The Hospital was reopene(I to tha publlc In September 2023. It clos8d for the first 3 months of 2024 to
enable varfous snagging works to be complet8d.
The cost of the full project Is expected to be close to £3.6 mllllon. In addltion to the NLHF fvnélng of Close lo £2m,
and the Hospitsl's own financlal contrlbu16on from Ks rgservgs of £35Ok, the fundraI￿n9 campaign has secured
ommitments for the remalnlng £1.24m.
FurKlraising wlll continue during 2024 and Into 2025 to wver fuiure malntsnance neods,
FINANCIAL REVIEW
Results for the ￿ar
Durfng the year total income amounted to £1,683.74212022: £1,109,631 }. In prepardlon ft)r Ihe LLH capltal
campaign projeciwe*ks trading was slgnthcanly reduced as the Hospital ceased mostactiviues al the end of2021,
being closed throughout 2022 and reopenlng In September 2023. Income from tradlng activities increased lo
£67.212 from £16,108 In 2022. Donations and grants increased from £1,047,691 in 2022 to £1,535,228. Of Ihis
£1.￿,571 was resthGtsd dc￿StiOnS and grants, which Includ￿ £1,184,992 from NLHF as thelr share of the LLH
450 pro1￿t.
Expenditure on tharitsble acu¥￿e$ Sncreased to £1,950,140 (2022.. £722.4631. which Induded £1,703,117 {2022.'
£560.739) a$soaal￿ wlh the LLH 450 project. Other 8XP8nditure rose from £12,432 in 2022 10 £24.820 In 2023.
Thero was also £789.913 of LLH 450 project expenditure thatwas capStallsed in the year {£851.813 curnulativelyl.
Depreciation ofthe capitallsgj p@ect Costs commenced In 2023, al £44.516. The Nel Bookvalue of the c8Pitallsed
C051s of £807,297 Is represented by the Restrictsd Funds.
The Charlty mode a defieit of £311,21812022'. surplus of £374,726), as Income ralsed in the prevlous year was
spend on the capital prolecl in 2023.
Prlor Pwlod Adjustmonl
Aprior period adjusiment has been made tofulty W￿le dcv+vn £125.027 of propety Improvements In 2022's flnandal
ststernents that wer8 Incurred pri¢y to 1970. These assgts had not Previously been depreciated. so the adjustment
hos had no effect on Iho Statem￿1 of Finanoal Acllvl¥g5 for the prior year. Detalls In Note 19.

LORD LEYCESTER'S HOSPITAL
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
R•sorv•s Policy
In addlllon to any spacific Reslrithd Funds certain Funds are daslgnated by the Govemors to represent amwnts
sel aside lo specificalty support Ihe fvture actNSUes of the HoSp￿al. The Ch8rfty Is also required by its Scheme to
malntaSn an Extraordinary Repairs Reserve. Havlng haé Its qulnquennial property review in 2015 Ihe Govemors
h8ve agreed to retain 8 bolance of £350.[￿0 to daal with priority repalrs requlred. The amount in this deslgnated
reserve Is lo be used a8 the Charfty's contrfbulton to the NLPIF project.
It Is the pcllcy of Ihe Charity that unrestricted fvnds whith have not been des5gnaled for a spedfic use should be
maintained at a level equtvalent to between three and six month's expendSlure. The Trustees constders that
reserves al this kvel w511 ensure that, In the event of 8 significant drop in funding. they will be able lo continue the
Charity's current actiMlSes vA711e cOn￿deratiOn Is glven to way5 In whlch addioonal fvnds may be raised. This level
of reserves has bgen malntained throughout the y88r.
The Operating Deficit Fund isfunds set aside lo cover the loss of Income whilst Ihe LLH 450 project Is undertaken.
£68,156 was uullsed durfng 2023 leaving a balance al 318t December 2023 of £58,447. to ￿eT the ramaining
period of project through 2024 and into 2025.
The Gener81 ReseNe Fund represents any unrestsicted fvnds that have not been ￿￿gnated and is wdlly
availabie funds forthe actlvltie8 of the Chartty. Thls currenlly stsnds at nfl. as all fuThls are r8strOcled ordesignote(l.
Inv•Btrnerrt• and Inv08tm•nt pollcy
The ￿ndS held In Invesknents have been held as cash deposits since 2020. The cash Is requlred to fund the
Hospltal's own conlribullon to the NHLF project and to support the Hospltal durfng the Ferlod the w0￿S are to be
done, when there will be minimal income.
PLANS FOR THE FUTURE
Now that the works have been compl&ted the Hospital ¢onlinugs lo provlde a home for the Brelhren, as well as
now being open to museum vlsltors and available for venue hire.
The NLHF prolecl hasn'lfinlthed yet. Work continues lo Improve marketing and thevlslt0rexp8rt￿C8 by enhanc(rvJ
the museum and heritage 8lemenL In order to make the Hospital %lf-suffi¢lent forthe futurg. Thls ￿￿11 ccntinue into
2025.
STrUCTURE, GOVERNANCE AND MANAGEMEiir
The Charity is a company limited by guarantee and Is conslttuled by a scheme dated 23 May 1972 lald dvwn by
An Act of Parllament and is registered with Ihe Charity Commissioners (No. 2168311
The Vlscounl De L'lsle, a5 dlrect descendant of the Founderfs Helr-al-Law, Is F￿r&JI￿ry Patron of the Hospltsl and
Chairman of Govemors. Her Majesty's Lord Lleutsnanl for the County of WaNlckshire is a Governor and will
change as does the Incumkent of that appointment. One Govemor is appointed by the WarnM(* Town Coun￿1 ¢
the basis of a three year Incumbency. Other Govemor5 are recruited as n￿essary to ensure that 8 gcod range of
experfen¢e. InfluencA8 and experU8e Is brought to bear in lurthering th6 alms and Object￿e$ of the Charity.
Induction and continuation training is undertaken as Judged necessary by Ihe Govern￿5 In aCCo￿ance wilh
Standards of Almshouse Management promulgated by the Almshou8eAssoci8ti0n.
The Trustees who served during the year and up to the dale of signalura of the fina￿181 statements vffjre..
The Rt Hon The Viscount De L'lsle C.V.O M.B.E- Patron
Mr T Cox H.M Lord Ueutenanl
Mr J Chamber5
Mr M Sewell
Dr The Hon P Sidney
Mrs C Cross
L Felknvs
Cllr D Sklnner

LORD LEYCESTER'S HOSPITAL
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Th& ¢harfty's long term objectives arè driven by the board of trustees who meet tyvice a year to discuss the
matters of th8 charity. with additional meetings 85 requlred.
The board of trustees have delegated the day to day advities ofthe tharily to the Master.
Rlsk managgmont
The board of trustees have consldered the risks to wl)ich thg Charity is exposed, and have established sysl8ms
for mitigating those risks. Stratsgi¢ and shorter range plans ar8 reviewed rggLJlarly. Internal risks are minimised
by IM￿eMenting Procedures for authorising transactions and by ensuring consistent quality of delivery for all
operational aspects of th8 Charity. The board of truslees review these procedures periodically.
The Tnjstees report was approved by the Board of Trustees.
L'(￿?
The Rt Hon The Vim>unt De L'l810 C.V.O M.8.E- Patron
Twstee
Dr The Hon P Sldney
Trustee
Daled-..l!l.i61LY

LORD LEYCESTER'S HOSPITAL
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THEYEAR ENDED 31 DECEMBER 2023
The trustees. who are also the dlfectors of Lord Leycester's Hospllal for the purpose of cornpany law, are resp￿SIble
for preparing th6Twslea's Report and theflnan¢ial ststements In accordance wllh applicable law and Unlted Kingdom
Accounting Stsndards (United Klngdom Generally A￿pIed Accounlng Prad¢e).
Company Law requires the Iruslees to prepare financlal statements for e8ch fin#ncLg1 year whlch glve a tru8 and fair
view of the Stale of affalrs of the charity and of the Incoming resources and appllcation of resources, Including the
income and expendifvre, of the tharilabSe company for that year.
In preparing these finandal statements, the trustee$ aré rwjulred to:
- 8ele¢t 8uitsble accounting Folicies and then apply thèm con3i$tenUy;
- I)￿ryt the methods and prlnciples in the Charibes SORP,.
- make Sudgemenls arKI estimates Ihal arn reaxjnable and pruden(
- 51atewhgther applScable UKAccounifjng Standards have béen followed, subject to any material departures dlsdowl
and explalned in the financial 3t¥tements.' and
- prepare the finandal statements on the going COn￿M basls unless il Is inapproprlale tQ PTe5um8 that the charity
wlll COn￿n￿e In operation.
The bwstees are responslble for keeplng adequate ac£ounting records that dIsdO￿ with r&asonable accuracy at any
time the flnanGial position of the charity enable them to ensure that the financlal slatem8nts comply with Ihe
Cornp8niès Act 2006. They are also responsible for safeguardlng the assets of the chadty and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularlties.

LORD LEYCESTER'S HOSPITAL
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF LORD LEYCESTER'S HosprrAL
Oplnlon
We have audited the flnanclal ststsrn￿ts of Lord Leycesterf8 H¢)spttal {the'charfty'> forlhe year ended 31 D￿rnber
2023 whlch comprise the statement of financaal aGtivities. Ihe balance sheel and notes to the financlal stslemgnts.
Indudin9 significanl accounting polides. The finandal reporting framework that has been applled In Ihelr preparation
Is applicable law and United Kingdom Accounting Stsndards, Including Flnandal Reporting Stsndard 102 rh8
Fin8nclo1 Reportlng St8ndard 8ppllcable in the UK and Republlc of Ireland Iunlled lQngdom Generally Accepted
Accounfjng Pr8cllcel.
In our opinKJn. the financial $18tements'.
give a true an¢J fair ￿eW of the stats of the ¢haritsble ciynp8ny's affairs a8 at 31 December 2023 and of ils
Incoming resources and application of resources, for th8 year then ended.,
have been propety prepared in accordance wlh United Klngdom Generally Act8pt8d ACCO￿ting Practice;
and
have been prepared in ac¢ordancg Vdilh the reqUIrem￿lS of the Comp8nlgs A¢t 2006.
Basls for oplnlon
Wo condudèd our 8udit In acGordan¢e wllh Inlemational Stsndards on Audillng IUK) IISAS IUKI) and applicable law.
(Xtr responsibilittes under those stsndards are further described In the Audit￿'S responsibililies fv the audlt of th8
financlal statgmenls secllon of our report. We are Independent of the charity in accordance with the elhic81
requlrements that are relevant lo our aud51 of the financial statemetnts in th8 UK. indudlng the FRC'S Ethical Standard,
nd we have fvifilled our other ethlcol responslbilities in accordance wlth these requlremenls. We believe that the
audit evidence we have obtained Is 5uffic¥ent arKI 8ppropriale to provlde 8 basi8 for our opinlon.
CoDclu•ions rglating lo going concern
In auditing the financial statements, we have conduded thatlheTrustees' use ofthe going conGem basi$ ofaccounting
in the preparation of the11nandal statements bs appropdate.
Based on the wort we have performèd, we hava not Identiffietd ony Ma￿￿1 uncertainties relallng to events or
lndltions that. indivldually or collectively, may cast Significant doubt on the charlty's ability lo continue a$ a going
concern fer 8 perlod of at least ￿e1Ve months from when the financlal statements are authodsed for issue.
Our responslbllities and the rnsponslbllltles of the TnJsteasw6th respect to going concem are descrobed In the relevant
sections of this report.
other Inft+rnMtlon
The other infomiation comprises the infomauon Included In the annual rep)rt other than the financlal statements and
our audilorfs repcft thereon. The Tnjslees are responslbleforthe other Snfomiation con18ined whhln the annual re￿.
Our ¢)pinlon on thè finandal stst9mgn15 dL*S not cover the other Infomiation and we do not express ary fomi of
assurance condusion thereon. Our responsibility Is to read the other InfomatK)n and, in doing so. cOn￿der whether
the other Infomation is materially inconslslenl wllh the fin8nclal statements or our knowledge obtalneij In the course
of Ihe audit. or Othe￿iSe appear5 to be materially mlsstated. If we identify such material Inoonsislencbes or apparent
material misstslements. we are rèqulred to determine whether thls glves rise to 8 mater181 mlsstalemont in theffinancial
ststements themselves. If, based on the work we have performed, we conclude that ihere 15 a material mlsstatement
of thls othèr Infomalion, wè are required to report that f8cL
We have rthing to rewt in Ihls regard.
MJtt•rs on whlch wo ar• r•quir•d to raport by •xc•ptlon
We havg nothing to report In respect ofthe follovAng matt8rs in relation to whkh Ihe Charflies (A￿unts and Raports}
Regulalions 2008 requlre us to report to you rf. in our opinlon:
the Infomauon ￿ven In Ihe ffinancial ststements Is incon5181ent In any matgrial respeci with the Tru8t8es'
reporL or
suffiaent xcounting r8cords have not been kèpl", or
we have not reGeived all th8 Snfom)aUon 8nd 6xplanations we require for our au(JiL

LORD LEYCESTER'S HOSPITAL
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE TRUSTEES OF LORD LEYCESTER
Responslbllhles of TrustO¢8
As explained more lully In the Stat￿ent of Trustses. re5ponslbilities. the Truslees. vtho are a150 the directors of the
charity fc* the purpose of wmpany law, are responsible for the Pryralion of the finandal ststements and for belng
satlsfied that they give a true and fair view, and for such inlemal control as the Trustee$ detemilne is necessary to
enable the preparatit￿ of finandal statements that are free from material misstatemenL whether due to fraud or error.
In preparing Ihg fin8nual statements. the Trustees are responsible for assessino the charity's 8blllty to conllnu8 as a
going concern. dlsclosing. as applicablo. matters Telated to golng concem and uslng the gc4ng concern basls of
accoUn￿n9 unless the Trustees elther Inland to liquidate Ihe chadtable company or lo cease operall¢Ms, or have no
realislc altemative bul to do so.
Audltorfs reBponslbilitles forth• audtt of the flnan¢lal Btstsrmnts
We have been appointed as audllor under section 144 ofthe Charlti8sAct 2011 and report in accordance ￿th the Act
and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurancg about whether the finand81 stslemgnts as a whole are free from
material mlsstatemenL whether due lo fraud or error, and to Issue an audltor's report that indudes our opinlon.
Reasonable 8SSUfance Is a hlgh level of assurance bul Is not 8 guaTanlee that an audit conducted in accordance
ISAS IUKI wlll a￿ayS detect a materlal misststement 11 exists. Misststemenls can adse from fr￿￿￿ or error and
are con5ider&J material M, IndividLbally or in the aggregate. they could reasonably be expgctsd to Influence the
economic deca￿¢)nS of users taken on the basis of these financl81 statements.
Irreguladties, indudlng fraud, are instsnces of non-compllance wlth laws and regulations. We d8slgn procedures in
line with our resp￿SibIlitIes. oulllned above, to del8Ct malerfal mi5Stalemenls in respect of irregularitles. induding
fraud. The extent to whlch our proc*dures are ¢apable of detecting Irregularitle5. includlng fraud is detailed bdow.
Extsnt to whl¢h audlt was consid•r•d capablè of detectlng Irrggularlties. including fraud
BeGau¥e of the inherent Ilmltst￿nS of an audll. there is a fisk that we wlll not detect all irreguladties, I￿[￿lIng those
loading to a maledal misststement In the financial 5ts1eff￿nts or non-compliance wlth regulation. This rfsk increases
Ihe more that compllancevAth a law or regul8tlon is removed from the events and transactions reflectsd in the finandal
ststemen15, as we will be les5 likety to become aware of inslances of non-complian￿. The rtsk Is also greater
regarding irreguiaiities C￿uthng lo fraud rather than ortor, as fraud Invc4ves int￿110naI concealmenL forgery,
Ilusion. omlssion or misrepresentation.
As port of an audll In accordance with ISAS IUKI. We exercise profess1￿al judgment and maintain prof￿Onal
scep￿ISM throughout the audit. We also performed the following procedures".
Enoulry ofmanagement and those charged with govemance around actual and potential litigalon and clalms.
Enquiry of 8ntity stsff in compliance fvnctoons lo identify any Instsnces of non-compliance vlth laws and
regulations.
Reviewing minutes of meelSngs of th¢)se chargod with govemance.
Reviewlng finandal 5tstement disdosures and tesling to supporllng documentall¢)n to assess compliance
with appllcable law5 and regulations.
Audltlng the risk of management override of controls, Indudlng thorough testing of joumal entries and other
adjusknents for approprfal8ness, and evaluating the rauonale of 5ignlficant transacllons outside the nomial
¢ourse of bU￿￿esS for the charfty.
A furiher description of our reSpOn￿bIllueS Is avallable on the Financial Repoifjng Cwncll's webslto aL httpsjl
www.frc.org.ukjauditorsresponslbili￿e$. Thls d8scripllon foms part of OUT audllorfs TeporL

LORD LEYCESTER'S HOSPITAL
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF LORD LEYCESTER'S HOSPITAL
Us• of our r•port
Th1$ rewrt Is made sololy to the charlty's trustees. 38 a body, In occordance with part 4 of the Ch8riJes (Accounts
and Reports) Regulations 2008. Our audit work has l)een undertaken so that we mlghl stale lo the charttys trustees
those matters we are required to slate lo them In an audttovs report and for no other purpose. To the fullest extent
permltted by law. we do not accept or assume responsibillty to anyone other than the charlty Ind the Chari￿s trustoes
as a body, for our audlt work. for this report, or for1he opinlons we hav8 fomied.
Charlotta Toemaos Bsc FCA Isgnlor Statutory Audltor)
for and on bo￿11 of Ellacotts Audit Sèrvlces Llmlted
Chartered Accountantg
ststutory Audltor
Jnlwlde H￿se
23 West Bar
Banbury
Oxfortlshire
England
OX16 9SA

LORD LEYCESTER'S HOSPITAL
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOMEAND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
CuTront flnancial year
Unrestrlrt•d D•signat•d R8strict•d
funds
fvnd$
funds
Total
Total
2023
2023
2023
2023
2022
Notss
Incom• from:
Donations and legacAe5
Charitable act1￿lIeS
Other trading 8divities
Interest Inc(xn8
30,657
51.934
67.212
9.368
1.504,571
1.535,228
51.934
67,212
9,368
1.047,691
45,628
10.108
206
Totsl Income
159.171
1,504,571
1,883,742
1.109,831
Ex
ndlturo 0
Charllable activlll88
202.507
1,747,633 1,950,140
722,473
Govemance ¢o$ls
24,820
24.820
12,432
Totsl r•sourc•s expended
227.327
1,747.633 1.974.960
734,905
Net In¢omlng rosourG
(68.156)
{243.0621 1311,218)
374.726
Gross transfers betsyeen lunds
68,156
1372.858)
304,702
Not movement In funds
1372,858)
61,840
1311.218}
374,726
Fund balane8s at 1 January 2023-AS RESTATED
542.889
745,657
1.288,546
913,830
Fund balancos at 31 December
2023
170.031
807,297
977,328
1,288,546
The statemonl of financlal acUvlUes Indudes all galns and losses recegnised In the year.
All Income and expendllure derive from conunulng acbvitie5.

LORD LEYCESTER'S HOSPITAL
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Prior finan¢lal yoar
Unrejtrlctgd Dgslgnatsd R￿trIcted
funds
funds
fund8
Total
2022
2022
2022
2022
Income from:
Oonalions and legades
Charftablo a¢li￿lieS
Other tradlng acuvities
Interest Income
23,198
45,626
16,108
1.024,495 1,047,891
45.620
16.108
Totsl Incom
85,138
1,024,495
1.109,831
Charitable aclivili8S
150,165
572,318
722.473
Govemance costs
12,432
12.432
Total resources expond•d
162,587
572.318
734.905
Not in¢omlng r•$ources
177.4511
452.177
374.726
Gross transfer5 t*iweon funds
73.789
{11,8891 (61.9001
movom•nt In funds
{3.662)
111,8891
390,277
374.726
Fund balances al 1 January 2022-AS RESTATED
3.862
554,778
355.380
913,820
Fund balan¢u at 31 DeGomb•r 2022-AS RESTATED
542.889
745.657
1,288.546
The slalamenl of flnanclal act￿lts$$ indudes all galns and losses re￿niSad in the ye8r.
All income and expenditure derive from continuing athtleg.
10-

LORD LEYCESTER'S HOSPITAL
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
AS ResTATeD
Notes
Flxed assets
Tangible assets
10
813.698
66.286
Current assèts
Stocks
Debtors
Current Assel Investment- Bank dewjsit
Cash at bank and in hand
11
12
25,023
131.536
100.000
278,836
535,395
25.861
157,010
1.262.002
1.444.873
Credltors.. amounts falllng due wlthln
ono y&ar
13
1330,0151
1175,3631
Nèt currnnt assets
205.380
1.269.510
Creditors.. amounts falllng du• after
onè y8ar
14
{41.750}
147,250)
Total assets less ¢urront Ilabllllles
977.328
1,288,546
Incomg funds
Restricted fijnds
Unrestricted funds..
Dèsignated funds
15
807.297
745,657
16
170.031
542.889
977,328
1,288,546
The financk91 ststements were approved by the Trusteos on
1* October 2024
L'(40
Th8 Rl Hon The Viscount De L'lsle C.V.O M.B.E
Patron
Trustee
Dr The Hon P Sidney
Trusteo
11

LORD LEYCESTER'S HOSPITAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
Chfjrlty Informatlon
Lryd Leycesterfs Hospltsl is a charfty registered wtth the Charity CommSs$on {CharOty No. 216831 }. Th0
prindpal addres618 60 H￿h StreeL w0￿ck. CV34 4BH.
1.1 Aocountlng GonventioD
The flnanGial stslements have been yepareil in accordance with the charfty's govemlng document. Ihe
Charftles Act 2011 and 'Aceounting and Repotting by Charities: Statement of Recommendeil Practi
appllcable to charthes preparing their accounts In accordance wlth the Flnandal Report'ng Standard applicable
in the UK and Republic of Ireland IFRS 1021. {as amended for a￿OUn￿ng periods commendng from 1 January
20191. The Charity Is a Publlc Benefil Enb'ty as defined by FRS 102.
The Charity has taken a(fvantage of the provlsions In the SORP for charlties appI￿ng FRS 102 Update 8ulletln
1 not lo prepar& a Statement of Cash Flows.
The finandal stslements are prepared in sterflng, which is the functlonal currency of the charlty. Monetary
amounts In these financial statements are rounded to the neare51 £
The flnancjal ststements have been prepar￿ und8T the hSstorical cost GonvenllfM. modified to Include the
revaluation of freehold prope￿e$ ond to include investh)enl properts.es and ¢ertain finandal InstNments at fair
value. The prinapal a￿oun￿ng pol￿e$ adopted are sèt out bdow.
1.2 Going ¢oncern
Al the time of approving the financial slatements. Ihe Trustees h8v8 a reasonable expectation Ihat Ihe Charfty
has adequate res¢)urces lo conlnue In operational axlstenc* for Ihe foreseeable future. Thus the Trustees
ontinue to adopt the golng concem basls of arLounting in preparing ihe flnancial ststsments.
1.3 Charltable funds
Unrestricted funds a￿ 8vallable for use al the ¢Jiscrellon of the Trustees In furtherance of thdr charltable
objectives.
Restrkte(I funds are subl￿t to spec#ffic condotlons by donors as lo how they may be used. The purposes and
uses of th8 restricted funds are set out in the notes to the finanGlal statements.
Endchvment Deslgnaled funds cvmprise unrestrictsd funds that have set aside by the trustees for
partlcular purposes.
The ourrent dosignalions are..
TangIb￿ Flxed Asset Fund
This represents the net bwk value ofimprovements madalo the HospM81 slnce 1960 and other tanglble assets.
Extraordinary Rep•lrs Re8•r¥•
Thls repTesents lunds set asSde to cover major renovations or repair work on the Hospital's historfc buildings
and provide Almshouse accommodauon in orderto meet Ihe main obligation of the Hospitsl, In accordancé with
the ¢hariiVs scheme.
Operatlng Deflclt Fund
Thls repre¥ants the reserves set asde to cover fvture astlmated operatlng th)rtf8lls in the short temi.
IA Incom•
Income Is re¢))gnlsed when the Charfty 1$ legalty enutled toll after any wrformance c￿ndItiOnS have been n*t.
the amounts can be me05ure(I rallably, and It Is probable that inccffie ￿11 be recdved.
12-

LORD LEYCESTER'S HOSPITAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
A¢eountlng pollcl68
(Contlnu•d)
Cash donallons are recognlsed on fecelpl. Olhor donauons are recognised once the Chadty has been notified
of the donallon. Unl￿ perfomanca condllions requ1￿ deferral of the amount. Income tsx recoverdble In
relawon lo donations recewed under GiftAld OT daads of covenant Is rfjwgnised at the time of the donallon.
Legacles are recognlsed on recelpt or otherwise if the Charity has been notified of 8n Impendlng dlstrSbution,
the amount is known. and recelpt 1$ expected. If Ihe amount is not known, Ihe Iwacy Is treated as a contlngent
asset.
1.5 Eyndlturo
Expenditure is actounl8d for on an accruals basis and has been dassified under headlngs that agg￿gate 811
cost related to the category. Where costs cannot be dlredly albibuled to partlGular headings. they have been
allocated to actiwties on a basls conslstent wSlh the use of resource$.
1.6 Tanglblè fix8d assots
Tanglble fixed assets are Initially measured at cost and sUbSequ￿￿Y measured at ¢osl or valualon, net ol
deprwatton and any impalrment losses.
Depred81ion Is re(tKJnlsed so as lo vrrite off the r￿st or valuation of assets less their rosldual values over theor
useful liv￿ on the fdlowing bases:
Freehold land and buildings Improvements
Plant arKI wuSpment
Fixtures and fittings
CompLrter8
2% on c05l
10% on cost
10% on co81
25% on redu￿n9 balance
Lord Leyceslerfs HosFllal was constructed in the late fourteenth. earty ftfteenth cenlury and thgr8 is no record
ofthe origlnal wsland no value Is attributed thereto. A numberof the Charity's a$s8ts would qualifya8'Heritag6'
assets in lin8 wth secli¢)n 18 of Ihe Charitiès A¢￿￿ntIng and Reporting by Charities.. Statement of
Recommended Pradce appllcable lo charltie5 preparing thelr accounts in accordance with the Flnancial
Reporting Standard applicable In the UK and Republic of Ireland IFRS 102) leffectivg 1 January 2015) due lo
the fact that they are held prfmarily for their hlslorthl and arUsts'G Importance being contributory lo knO￿edge
and culture.
Heritage assets are recognisèd on the balance sheet 8t Iheir ts)8t or valuati(*), unless inforn)aUon on thelr cost
or valuallon Is not available and such information cannot be obtalned at a cost commensurat8 With the benefflt
to the users of the accounts 8nd to Ihe charfty. Only land and buildlng improvements since 1960 are Indud￿.
Freehok1 land and buildings Improvements are deprfjciated at 2% of cost.
1.7 Flxod asset Inv•stmonts
Fixed asset investments are InI￿allY m8asured at Iransacuon prfcè exdudlng tr8nsaction costs, and are
$ubsequenUy measured atfairvalue ateach reporling date. Changes in falr value 8re recognised In nel incomel
(expendllure) for the year. Transactlon costs ate expensed as InGuned.
1A Impgirm•nt of fixed assots
At each repor￿ng 8nd dat6, the Charlty revlews the carying amcunts of its tangible assets to detemlne whether
there Is any Indlcallon that those assets have suffered an impaiment loss. If any such indication exists, the
re¢ov8rable amount of the a$set1g esllmated in ￿der to determlna the extent of tho imp81mwnt k)ss (rf any).
13-

LORD LEYCESTER'S HOSPITAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THEYEAR ENDED 31 DECEMBER 2023
Accounting poll¢i•s
{Continu•dl
1.9 Stocks
Stocks are ststod atthe lowerofcostond e8tlmoted 8elling priceless costs to th￿plete and sell. Costwmprises
direct materials and. where appllcable, dlrect labour costs and those overheads that have begn Inwrred in
bringing the slock8 lo their present location and conditlon. Ilerns held for dislrfbution at no or nomin81
conslder8tlon are measured the k)wer of replacement g)$1 and cost.
Nel roallsable value is the esomaled selling pri¢e18ss all estimated costs of compledon and costs kn be incurred
in marketinu, selliNJ and dithbudon,
1.10 Cash and cash oquivalonls
Cash and cash equlvalenls Include cash In hand, deposits held at call wtth banks. other short-term liquid
Investments ¥￿th orlginal maturfJes of three months or less, and bank overdrafts. Bank overdrafts ale sknin
wllhin borrowings In current liabilitres.
1.11 Flnancial Instruments
Th8 Chadty has elected lo apply the provlskjns of secl1c￿ 11 'Baslc Financlal Inslruments. and Secthon 12
ther FlnanGial Instruments Issue5, of FRS 102 to all of its flnancial instruments.
Financlal Instruments are recognised In the Charl￿$ balance sheet whèn the Chadty becomes paty to tt)e
contractual provisions of the instrument.
Fln8nGial assets and liabilities are offset. with the net8mounts presented In the flnand81 ststem8nts, when there
Is a legally enforceable right to set off the recognised amounts and there Is an intenuon to setde on a net basss
or to realise the asset and settle the liablllty s1multsneou￿y.
Bas1¢ find￿1•1 assets
Baslc financial assets. whlch Indude debtors and cash and bank balances, are Inltially measured at Irdnsactlon
Pfice including transactfjon costs and are subsequen￿Y carr￿d at 8mortized cost using the effective Snteresl
method unles5 the arrangement conslitules a financing transaction, where Ihe IranSaC￿On is measured al the
prasent value of Ihg future re￿Ipts discounted at a market rate of inleresi. Financial assets classified as
receivable within one year are not 8mortiz8d.
8a$i¢ flnancl81 Ilabllldes
8aslG financial liabilities, inejudlng credllors end bank loans are Initial￿ recognlsed at tran8acUon unless
the arrangement consOtut8s a flnanang transaclion, %ther8 the debt Instrument Is measured al the present
valuè of the future payments dlscounted at a market rate of InleresL Finantsal labllities classified as payable
within one year are not amortisad.
Debt Instruments are 8ub8equ6nUy carried 8t amortised cos( uslng ts effeotfve Interest rala method.
Trade crédllors are obllgatlons lo pay for grx4Js or servlces that ha￿ been acquired in the ordlnary COUTse of
operations from suppliers. Amounts payable are dassSfied as current liabilities if payment Is due wilhln one year
or less. If not, they are presented as non-current liabllltles. Trade credltors are recoanlsed Inltially at transaction
price and svbsequenuy measured at amorUsed cost using the eff￿tIve Intsr6s1 melhryl.
Derncognltlon of flnanci•l I1•￿Il*l•S
Finanual liablllties ar8 derecognised when the Charity's ccffltractU81 obllgatlons explre or are discharged (x
cancelled.
14-

LORD LEYCESTER'S HOSPITAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting polld
(Continuod)
1.12 Taxatlon
The charity Is exempl from tax on Its charitable •dviUes.
Ltyd Leycesterfs Hospltal was not reg151ered fcf ValueAdded Tax durlng the year. In these finandal stslements,
where appllcable, expendltur& is Shown inclusive of VAT.
1.13 Employ9• benafitg
The cost of any unused holid8y entlU8m￿I is recognis&J in the perllxl in which the employee's s6rvlces are
[￿e1Ved.
Termlnauon b&nefits are recognlsed immediatety as an expensg when the Ch8rfty is demons1rably commltted
to terminate the employment of an employee (K to wovide teminauon benefits.
1.14 Retirement ben•fft6
Payments lo deflned C￿ntrIbu￿On retirement benefit schemos are ch8rgeiJ 88 an expense as they fall due.
Ch•rli8blo actSvltl•s
2023
2022
Malntenance contrlbutions from resid8nts
51,934
45,626
The in¢ome received from t*arftable acllvilies was £51.934 {2022: £45,626) whlch wa$ all unr8slrf¢led.
tlonations and lega¢l•s
Unreslrfcted Restrlcted
fvnds
funds
Total
Total
2023
2023
2023
2022
Donauons and gifts
30,857 1,504.571
1.535,228
1.047.691
30,657
1.504,571
1,535.228
1.047,691
For Ihg yèar endod 31 Doc•m￿r 2022
23,196 1,024.495
1.047,691
15-

LORD LEYCESTER'S HOSPITAL
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEM8ER 2023
Oth•r tradlng actlvities
2023
2022
Income from visito
Hall and equlpment hire
Funcli¢)n8 Inoome
55,922
6.195
5.095
11.192
2,906
2.010
07,212
18.108
The I1￿me from other trading activithes was £67,212 (2022.. £16.108) whlth was all unrestricted.
Interest Incomo
2023
202Z
Interest receivable
9,368
9,368
206

LORD LEYCESTER'S HOSPITAL
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Charliablo acilvities
R•strict•d UnreJtrl¢t•d
2023
2022
Staff costs
Services
Management
Light and heat
Rates and water
Repairs and malnlenance
Administration
Funcllons expeTrJiture
Project LLH450 (net of capitallsed o)$ts of £789.913>
80,346
22.329
11.580
26,568
23.624
14.489
17.612
5.961
80,346
66.845
11.560
64,822
9,030
4,545
18.028
23.940
31.360
8.305
1,698
560.739
44.516
23.624
14.489
17.612
5,961
1.703,117
1,703,117
1,747,633
202.507 1,950.140
722,473
Analysls by fund
Unrestricted funds
Reslricted funds
202,507
1.747,633
150,1SS
572.318
1,950,140
722,473
Trnste•s
None of the Trusleos lor any p￿sOn8 connected wth them) reGeived any remuneralon or beneffits from the
Hosptkal during the year.
Governan￿ costs
2023
2022
Accountancy fegs
Audll fees
15,580
9.240
4.032
8.400
24.820
12,432
The expendlbjrg for tyw8mance costs was £24.820 (2022: £12,432) whlch was all unrestslct&J.
17-

LORD LEYCESTER'S HOSPITAL
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Employg
The averag8 mcfflthly numbgr of em￿OyeeS during the year was..
2023
Number
2022
Numb•r
Administrallon
Olher
Total
Ernploym•nt tosts
2023
2022
Wages and salarSes
Sttlal security costs
Other pension wsls
73,702
S.020
1.624
62.643
1,279
80,346
84.822
Thern is £135,782 {2022. £2T.3001 of employment C05t is the LLH 450 project.
Th¥e were no employgas whose annual remunerauon was £80,000 or more.
10 Tanglblo fix•d as#èts
Fre•htsld land
and bulldlngs
Pl•nt and FMur•s 4nd
knwov•m•nts •quiwnont
¢ompuhfS
Tolal
Cosl
At 1 January 2023-AS RESTATED
Additlons
61.900
571.944
48,709
35.066
22,738
117,951
140,689
8.956
70,270
77,228
140.303
795231
At 31 December 2023
633,844
83.775
935,534
Dopreclation and imp¥lrniant
At 1 January 2023
Depreciation charged In Ihe year
48,709
3,S07
19,972
13,968
5,336
17.687
74,017
47.819
12.677
Al 31 Decembgr 2023
12.677
52216
33.940
23.003
121.836
Carrying amount
Al 31 December 2023
621.167
31,559
106,749
$4,223
813,698
At 31 December 2022- AS RESTATED
01,9
2,766
1.620
68,286
£789,913 of the addltton8 Is the capltalked elemgnt of the LLH 450 project {£851.813 In lots1}. The capitsl
element of the project completed In 2023, so depreclalon ha5 commenwi. Depr￿latiOn related to the prqect
Is £44,516.
See Note 20 r8 Prior Year Adlustrnent. whlch relates to bullding improvements.
18-

LORD LEYCESTER'S HOSPITAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER2023
11 Stock8
2023
2022
Finished goods and goods for resale
25.023
25.861
12 Dgbtors
2023
2022
Amounts talllng du• withln on• y•ar".
Trade debtors
Other debtors
ACc￿e￿ Income
40
36.522
94,974
24
13.492
143.494
131.536
157.010
13 Croditor8.' amounts falling due wlthln ono yoar
2023
2022
Other taxation and social security
Trad6 credllors
Other creditors
Accru8ls and deferred Income
AlmshouseAssoaatlon Loan
3.731
53.598
114,306
152,880
5,500
2,208
88,143
101.762
5,250
330,015
175,363
14 Creditors: amounts falllng duo after on• yoar
2023
2022
AJmshouseA88ociation Loan
41,750
47,2￿1
19-

jo
c)
a)￿0
Ill li

LORD LEYCESTER'S HOSPITAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
18 Doslgnat•d fund$
The income funds of the charlty Include the following daslgnatsd fijnds whi¢h have been set 88lde out of
unres1rfcl￿j funds by the trustees for specific purposes:
Balan¢• at
1 Janu•ry 2022
al
Tw8kn R•vAluatlono. 31 D•t•mber
golns
2022
It)8090 AS IIESTATED
AS RESTATED
Extraordinary repairs reserv88
Tanglble fixed asset fund
Operaung defloil fund
350,000
8.024
198.754
360.000
86,286
126,603
80.262
(72,1511
554,778
(11,889}
542.889
Balanco •t
1 January 2023
AS RESTATED
Tran8fors R•valuatlon
Balanc• at
galn# and 31 Doc•mbv
105505
2123
Extraordinary repalrs reserves
Tangible flxed asset fund lexc.NBV of capitallzed proj￿1)
Op8raUng deficit fvnd
350,000
66,286
126.603
{244,817)
159.8es1
168.1561
105,183
6,401
58.447
542,889
1372.858)
170.031
-21-

LORD LEYCESTER'S HOSPITAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
17 Analysls of not u$•ts b•tw••n fund*
Unrostrictod Deslgnatod Rgstrld•d
fund•
funds
funds
2023
2023
2023
Total
2023
Fund balances al 31 December 2023 are
represented by:
Tangible assets
Inveslmgnts
Current assetsl{Ilabi1SU88)
6.401
807,297
813.098
163,630
163.630
170,031
807.297
9T7.328
Unr•$trl¢t•d Dosignat•d R•Btrict•d
funds
funds
funds
2022
2022
2022
Total
2022
Fund balances at 31 December 2022- 8$
Restated - are repre¥ented by..
Tanglble assets
Investments
Current assetsllllablllyesl
66,286
66,280
478.604
745,857 1,222.260
542,889
745.657
1,288.546
1B Rolatod party transactk•n8
M.G. Sewell Is employed as an Investment Managerwilh Smith & William50n Inveslment Management LLP and
soma of the Hospital'5 investments were held in the custody of Smrth & WIlll8m8￿ on an execution rmly basls.
Currenlly there are lust small cash holdlng&
19 Prfor P•rlod Adju8tm0nt
R¢¢onclliatlon of changes in Tanglble fix•d ass•t fvnd- 2022
Orbglnal
reporhd
Adlu5t-
¥J22
mlrtt AS RESTATED
Balance at l January 2022
Transfers
131,051
60,280
1125,027)
8.024
60,260
Bal&)ce at 31 Delxmber 2022
191,313
1125,0271
06.286
R0￿nCiliatiOn of chang•s in profit for the prevlous flnanclal perlod
No effect on the perfod financial pericd.
Notes to Ro¢oneillatlon$
The prtOT period atllustment relat8$ lo the 100% wrtte do￿ of £125,027 of proporty improvements that were
incurred prior lo 1970. These assets had not previously been depreclaled. so the adjustment has had no effect
on the Statsment of Finanaal Actwilies for the prfor year.
-22-

LORD LEYCESTER'S HOSPITAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Oporatlng1gas• ¢ommllments
Al the repDrbng end dale Ihe charity had ¢Xrtstandlng ￿Mm11ments for fulure minimum lease payments under
non-cancellable operating lease. whith fall due as follow5:
2023
Wtihln one year
Between tsvo and five years
In over five years
8,271
14,297
4,2S5
24.827
-23-