Charlty Reglstratlon No. 216831 LORD LEYCESTER'S HOSPITAL ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 LORD LEYCESTER'S HOSPITAL LEGAL AND ADMINISTRATIVE INFORMATION Trustees The Rl Hon The Viscount De L'lsle C.V.O M.B.E- Patron Mr T Cox H.M Lord Lieutenant Mr J Charnbers Mr M Sewell Dr The Hon P Sidney Mrs C Cross (resigned 15 February 2024} Mrs L Fellows lappoinled 4th March 20241 Cllr D Skinner (appointed 4 March 2024) Charlty number 216831 Princlpal address Lord Leyceslerfs Hospital 60 High Street Warwick CV34 4BH Bankers Lloyds TSB Group PLC 73 Parade Leaminglon Spa CV32 4BB Solicltors Moore & Tibbits 34-36 High Street Warwick CV34 4BE Investment managers Evelyn Partners Investment Services Limited 45 Gresham Street London EC2V 7BG Indopendent Examlners Ellacotts LLP Countrywide House 23 Wesl Bar Banbury OX16 9SA Th& Ma$ter Dr H Meyer Clerk to the Governors Mr J Wassall LORD LEYCESTER'S HOSPITAL CONTENTS Pagg Trustee5 report Statement of Trustees responsibilities Indepèndent ex8minerfs report Statement of financial activities Balance she&t Notes lo the financial s18lements 10-20 LORD LEYCESTER'S HOSPITAL TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their report and financial slalements for the year ended 31 December 2024. The financial 51alements have been prepa￿d in ac￿rdanCe w(th the accounting policies set out in note 1 to the financial statement5 and comply with the charity's governing document, the Charits'es Act 2011 and 'Accounling 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 IFRS 1021° {as amended for accounting periods commencing from 1 January 20191. The Trustees of Lord Leyceslerfs Hospital are also the Govemors of the charity. REFERENCE AND ADMINISTRATIVE DETAILS Lord Leycesler's Hospital's charity number, principal office, its list of Trustees and all ils key advisors are sel out on legal and adminislralive infomiation page at the front of these Financial Statements. The board of Trustees have delegated the day-to-day activits'es of the charity to the Master. OBJECTIVES AND ACTIVITIES The Charity provides almshouse accommodation at High Street. Wamick for poor and deserving ex-servicemen and their wives who have seNed in the armed forces of the crown being men of the particular classes hereinafter specified in order of preference, that is lo say'.- FIRST those men who were disabled during their service and whe have resided for al least four years preferably in the Borough of Wdrwck, the Parish of Kenilworth or the Borough of Slralford upon Avon, all in the County of Warwick, or in the Parish of Wootton under Edge or the Parish of Artingham, both in the county of Gloueester. bul subject thereto anywhere in the County of Watwick, SECONDLY those men who were not disabled during their service but who have resided as above mentioned., THIRDLY those men who were not disabled during their service bul who have not resided as above mentioned. To achieve these objectives the Charity has to maintain the historic medieval property. 11 generates income from the property to m8inlain the propety and to provide the almshouse accommodation. The Charity is required to provide accommodation for the Master who is responsible for the govemmenl of the Brethren. The Charity derives incorne from the admission of the general public to the historic buildings- which include the Guildhall, the Great Hall, St James's Chapel, the Master's House and the Brethren's Kitchen and lettings for events. The Charity also derives rental income from dwellings within the Hospital's buildings. In addition, the Charity seeks regular financial SUPPDrt from Service Charities, Charitable Trusts and other benefactors. To protect the long-lem security of the Hospitsl the Trustees successfully applied lo the National Lottery Heritage Fund to support a major project lo protect the buildings and lo improve and expand the museum visitor experience. with the view lo making the Hospital financially self-suslaining in future. This improvement lo the property W8S mostly completed by September 2023. with additional closure in quarter one 2024. The Hospital finally open fully time for museum vi51tors again in March 2025. Project work to improve the markeb'ng and visitor experience continued during 2024 and wll Continue into late 2025. LORD LEYCESTER'S HOSPITAL TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Publlc b9ngflt The Governors have had regard lo guidance published by the Charity Commissioners on public benefrt. Public benefit is achieved through the provision of homes for retired ex-servicemen and theirwives. and the maintenance of the ancient buildings of the Hospital that form part of the nation's heritage, for educational, recreational. and other community activits'es. ACHIEVEMENTS AND PERFORMANCE Charltable actlvltles The Trustees have succeeded in providing homes for ex-servicemen and their wives in accordance with the Charity's objectives, plus a Helmand veteran received lifeunly of Warwickshire is a Govemor and will change as does the incumbent of that aptK)intment. One Governor is appointed by the Warwick Town Council on the basis of a three year incumboncy. Other Govemors are recruited as necessary lo ensure that a good range of experience. influence and expertise is brought lo bear in furthering the aims and objectives of the Charity. Induction and continuation training is undertaken as judged necessary by the Governors in accordance with Slondards ofAmshouse Management promulgated by the Alrnshouse Association. The Trustees who served duNng the year and up lo the dale of signature of the financial statements were.. The Rt Hon The Viscount De L'lsle C.V.O M.B.E- Patron Mr T Cox H.M Lord Lieutenant h14r J Ch8mbers Mr M Sewell Dr The Hon P Sidney Mrs C Cross Mrs L Fellows Cllr D Butler LORD LEYCESTER'S HOSPITAL TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The charity's long-lerm objectives are driven by the board of trustees who meet tsvice a yearto discuss the matters of the charity, with addit'onal meetings as required. The board of trustees have delegated the day-towday aclivib'es of the charity to the Master. Rlsk management The board of Iruslees have considered the risks lo which the Charity is exposed, and have established systems for mitigating those risks. Strategic and shorter range plans a￿ reviewed regulady. Inlem81 risks are minimised by implementing pro￿&UreS for aulhorising transactions and by ensuring consistent quality of delivery for all operational as[￿tS of the Charity. The t)oard of trustees review these procedures periodically. The Trustees report was approved by the Board ofTruslees. Thè Rt Hon The Vlscount De L'lsle C.V.O M.B.E- Patron TTuslee DrThe Hon P Sldngy Trustee Dated-. IS.x,2 LORD LEYCESTER'S HOSPITAL STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The Iruslees are responsible for preparing the Trustee's Report and the financial statements in accordance with applicable law and United KingdomAccDunling Standards (United Kingdom GenerallyAccepledAccounling Practicel. Company Law requires the trustèes lo prepare financial statements for each financial year which give 8 true and fair view of the slate of affairs of the charity and of the incorning resources and application of resources. Including the income and expendrture, of the charitable company for that year. In preparing these financial slalemenls, the Iruslees are required lo: select suitable acc4)unling policies and then apply them consislenlly., observe th8 methods and principles in the Charities SORP., mak8 judgements and eslirnales th81 are reasonable and prudent., - stste whether applicable UKAccounting Standards have been followed. subject to any material departures disclosed and explained in the finanaal slalemenls., and prepare the financial slalements on the going concern basi$ unless il is inappropiiate lo presume that the charity 11 continue in operation. The trustees are responsible for keeping adequate accounting records that dlsdose wlh reasonable accuracy 81 any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets ol the charity and hence for taking reasonable steps for the prevenb'on and detection of fraud and other irregularities. LORD LEYCESTER'S HOSPITAL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LORD LEYCESTER'S HOSPITAL I report lo the charity on my examination of the financial statements of Lord Leycester's Hospital Ilhe charity) for th9 year encled 31 Decernber 2024 which are sel out gn pages 7 to 20. Responslbllltles and basls of report As Trustees of the charity you are responsible for the preparab'on of the financial statements in accordance with the requirements of the Charities Act 2011 (the ACVI. I report in respect of my examination of the charity's financial ststements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicakAe Directions given by the Charity Commission under section 14515llbl of the Act. Indep&ndent gxamlnerfs ststsment Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in sectton 145 of the Act. I confinn that l am qualified lo undertake the examination because l am a qualified member of the Association of Chartered Certified Account8nls. I h8ve completed my examlnation. I confimi that no matters have come lo my attention in connection with the examinalign giving me cause to b81ieve that in any material respect.. accounting records were not kept in respect ofthe charity as required by section 130 of the Act.. or 2. the financial statements do not accord with those records,. or 3. the financial slalements do not comply with the applicable requirements concerning the fom and content ol financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair viw 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 lo which attention should be drawn in this report in order to enable a proper understsnding of the financial statements to be reached. Leigh Dudlgy FCC Ellacotts LLP Countrywide House 23 West Bafr Banbury Oxfordshire OX16 9SA Date.. ,. LORD LEYCESTER'S HOSPITAL STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Current flnanclal year Unrestricted Deslgnatsd Restrlctsd funds fund5 funds Total Totsl 2024 2024 2024 2024 2023 Notes Income from: Donations and leg8cies Charitable activities Other trading activities Interest Income 38,485 45,796 196,581 3,744 369,910 408,395 1,535,228 45,796 51,934 198,581 67,212 3,744 9,368 Total Income 284,606 369,910 6S4,516 1.1663.742 Ex endlture on: Charitable ath'vities 281,451 250.604 532,055 1.950,140 Govemanee costs 5,352 5,352 24,820 Total resources expended 286,803 250,604 537,407 1,974,960 Net Incomlng resources (2,1971 119,306 117,109 1311,2181 Gross transfers be￿en ftjnds 2.197 157,558 1159,7551 Net movgmgnt In funds 157,558 {40,4491 117,109 {311.2181 Fund balances at 1 January 2024 170.031 807.297 977,328 1,288,546 Fund balance5 at 31 December 2024 327,589 766,848 1,094,437 977,328 The Statement of financial activit'es includes all gains and losses recognised in the year. All income 8nd expenditure derive frorn continuing activities. LORD LEYCESTER'S HOSPITAL STATEMENT OF FINANCIAL ACTIVITIES ICONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Prlor flnancial year Unrestrlcted Designated Restricted funds funds funds Total 2023 2023 2023 2023 Notes Income from: Donations and legacies Charitable ath'vib'es Other trading activities Interest Income 30.657 51,934 67,212 9,368 1.504.571 1,535,228 51,934 67,212 9,368 Totsl Incom& 159,171 1,504,571 1,663.742 Ex enditure on: Charitable acts'vib'es 202,507 1,747,633 1,950.140 Goveman¢e costs 24,820 24.820 Totsl resources expended 227,327 1.747.833 1,974,960 Net Incomlng rgsources 168.156} 1243,0621 1311.218} Gross transfers ￿tween ftjnds 68.156 1372,8581 304.702 Net movement In fund$ 1372,8581 61,640 {311,218) Fund balances at 1 January 2023 542,889 745,657 1,288,546 Fund balancgs at 31 December 2023 170.031 807,297 977,328 The stslement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from conb'nuing activitie5. LORD LEYCESTER'S HOSPITAL BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notss Flxed assèts Tangible assets 10 771,671 813.698 Current assets Stocks Debtors CurrenlAssel Investment- Bank deposit Cash at bank and in hand 11 12 26,958 67,846 100,000 250.679 445,483 25,023 131,536 100,000 278,836 535,395 Credltors: amounts falllng dug wthln on8 year 13 185,9671 1330,0151 Net current assgts Cr&dltors: amounts falllng due after orte year 359,51e 205.380 14 136,7501 141.750) Totsl assets less current Ilabllltles 1,094,437 977,328 Income funds Reslricled funds Unrestricted funds.. Designated funds 15 766,848 807,297 16 327,589 170,031 1.094,437 977,328 The financial statements were approved by the Trusteès on 20th October 2025 The Rl Hon The Viscount De L'lsle C.V.O M.B.E Patron Trustee DrThe Hon P Sidney Trustee LORD LEYCESTER'S HOSPITAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles Charity information Lord Leycesterfs Hospital is a charity registered wth the Charty Commission (Charity No. 2168311. The principal address is 60 High Street. w3n￿1Ck, CV34 4BH. 1.1 Accountlng conventlon The financial slalements have been prepared in accordance wrth the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities." Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. las amended for 8ecounting periods commencing from 1 January 20191. The Charty is a Public Benefit Enlily as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for tharilies applying FRS 102 Update Bulletin 1 not lo prepare a Statement of Cash Flows. The financial slalements are prepared in sterling, which is the functs'onal currenty of the charity. Monetary amounts in these financial 5tstemènt5 are rounded to the nearest £. The financial slalements have been prepared under the historical cost cgnvenlion, modified to include the revaluation of freehold properties and lo include investment properties and certain financial instruments al fair value. The prinapal accounting poliaes adopted are set out below. 1.2 Golng concern At the lime of approving the financial stalemenls, the Trustees have a reasonable expe¢tslion that the Charity has adequate resources ID continue in operational existence for the foreseeable ftjlure. Thus the Trustees conb'nue to adopt the going concem basis of accounting in preparing the financial sl*ements. 1.3 Charitable funds Unreslricled fvnds are available for use at the discretion of the Trustees in futherance of their charitable objectives. Restricted ftJnd5 are subject lo specific cOnd￿.0nS by donors as lo how they may be used. The purposes and uses of the reslricled fvnds are set out in the notes lo the financial statements. Endowmenl Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The current designations are.. Tangible Flxed Asset Fund This represents the nel book value of improvements made lo the Hospital since 1960 8nd other tangible assets. Extraordlnary Repalrs Reserve This represents funds set aside lo cover major renovations or repair work on the Hospital's historic buildings and provid&Almshouse accommodation in order lo meet the main obligation oflhe Hospitsl, in accordance with the charity's scheme. Operatlng Deflcit Fund This represents the reseNes sel aside to cover future ests'mated operating shortfa115 in the short lem. 1.4 Income Income is recognised when the Charity is legally entrtled to it after any perforrnance conditions have been mel, the amounts can be measured reliably. and it is probable that income will be received. 10- LORD LEYCESTER'S HOSPITAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcies {Contlnuedl Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. In￿me tax recoverable in relation 19 donations received uncler GiftAid or deeds of covenant is recognised al the time of the donation. Legacies are recognised on receipt or otherwise if the Charty has bèen notified of an impending distribution, the amount is known, and receipt Is expected. If the amount is not known, the leg8cy Is treated as a conlingenl asset. 1.5 Expendlturg Expenditure is accounted for on an accruals basis and has been Classified under headings that aggregate all cost related lo the category. Where costs cannot be directly attributed to particular headings, they have been allocated to actsvilies on a basis consislenl with the use of resources. 1.6 Tanglbleflxgd assets Tangible fixed assets are initially measured at cost and subsequently nleasu￿d al cost or valuation, net ol depreciation and any impaimient lossès. Depreciation is recognised so as lo write off the ￿51 or valuation of assets less their residual values over their useful lives on the following bases: Freehold land and buildings improvements Plant and èquipment Fixtures and fitting$ Computers 2Qk on cost 100A on cost 100h on Cost 25% on reducing balance Lord Leycesler's Hospital was Constructed in the late fourteenth, earfy fifteenth century and there is no record oflhe original Cost and no value is attributed Iherelo. Anumberoflhe Charity's assets would qualify as'Herilage' as5els in line with section 18 of the Charities Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo chaiilies preparing their accounts in accordance ￿th the Financial Reporting Standard applicabl& in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20151 due to the fact that they are held primarily for their historical and artistic importance being conlnbutory to knowledge ènd CL+llure. Heritage assets are recognised on the balance sheet at their cost or valuation. unless infomation on their cost or valuation is not available and such inforrnalion cannot be obtained al a cost commensurate with the benefit to the u5eis of the accounts and to the charity. Only land and building improvements since 196LI are included. Freehold land and buildings improvements are depreciated at 2% of co81. 1.7 Flxed asset Investmgnts Fixed asset investments are initially measured at transaction price excluding transaction costs. and are subsequently measijred al fairvalue al each reporting dale. Changes in fairvalue are recognised in nel incomel lexpendilurel for the year. Transaction costs are expensed as incurred. 1.8 Impalmient of fixed assets At each reporting end dale, the Charity reviews the carrying amounts of it5 tangible assets lo detemiine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the Tecoverabl8 amount of the asset is eslimaled in order lo delemine the extent of the Impairment loss lif any). LORD LEYCESTER'S HOSPITAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies IContinu9d} 1.9 Stocks Stocks are staled atthe lower ofcost and estimated selling price less costs lo complete and sell. Cost comprises direct materials and, where applicable, dire￿ labour costs and those overheads that have been incurred in bringing the stocks lo their present location and condib'on. Items held for distribution al no or nominal eonsideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated cosls of completion and costs to be incurred in marketing, selling and distribution. 1.10 Cash and cash equlvalents Cash and cash equivalents include cash in hand. deposits held at call with banks. other short-lemi liquid investments with original maturities of three months or less. and bank overdraft5. Bank overdrafts are shown within borrowings in current 5iabilib'es. 1.11 Flnanclal Instruments The Charty has elected lo apply the prowsions of Section 11 '8asic Financial Instruments. and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its finanaal inslrumenls. Financi81 instruments are re￿niSed in the Charity's balance sheet when the Charity becomes paty to the conlraclual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the finanaal statements. when there is a legally enforceable right lo sel off the recognised arnounls and there is an inl8ntion to settle on a net basis or lo reali5e the asset and settle the liability $imullaneously. Basic financial 8ssets Basic finanual assets, which include debtors and cash and bank balances, are initialty measured al transactiori priee including transaction costs 8nd are subsequently carried al amortized cost using the effective interest method unlèss the arrangernenl constitutes a financing transaction, where the transaction is measured al the present value of the future receipts discounted at a market rale of interest. Financial assets classified as receivable within one year are not amortized. Basic financial li8bllities Basic financial liabilities, including creditors and bank loans a￿ initially recognised al Iransath'on price unless the arrangement conslilules a financing transacts'on, where the debt instrument Is measured at the present value of the future payments discounted al a market rale of interest. Financi81 liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al aTnortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary ￿Urse of operations frcsrn suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using the effectNe interest method. Derecognldon of flnancial Ilabilities Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled. 12- LORD LEYCESTER'S HOSPITAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies {Contlnued) 1.12 Taxatlon The charity is exempl frorn tax on its charitable aclivilies. Lord Leycester's Hospital was not registered for ValueAdded Tax during the year. In these finanoal statements, where applicable, expenditure is shown itKlusive of VAT. 1.13 Employee benefits The cost r)f any unused holiday enlitlemenl is recognised in tl)e period in which the employee's services are received. Teminalion benefits are recognised irnmedialely as an expense when the Charity is demonstrably committed to leminate the ernployment of an employee or lo provide lerminab.on benefits. 1.14 Retlrement b&neflts Payrnenls lo defined contribution retirement benefit schemes are charged as an exwse as they fall due. Charltable acttvltles 2024 2023 Maintenance contribub'ons from residents 45,796 51.934 The income received from Charitable activities was £45,7912023.. £51,934) which was all unrestricted. Donatlons and legaclos Unrestrlctsd R￿trIcted funds funds Totsl Total 2024 2024 2024 2023 Donations and gift8 38,485 369.910 408,395 1,535,228 38,485 369.910 408,395 1,535,228 Forthe yeargnded 31 December 2022 30.657 1,504,571 1.535,228 13- LORD LEYCESTER'S HOSPITAL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Other tradlng actlvltles 2024 2023 Income from visitors Hall and equipment hire Functions income 143,492 30,618 22,471 55,922 6,195 5,095 196,581 67,212 The income from other trading activities was £196,581 12023.. £67,212) which was all unrestricted. Intsrest Incomg 2024 2023 Interest receivable 3.744 9.368 3,744 9.368 14- LORD LEYCESTER'S HOSPITAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Charltablo actlvlties Restrlcted Unrestrlctgd 2024 2023 Staff costs Services Managernenl Light and heat Rates and water Repairs and maintenance Administration Functions expenditure Project LLH450 Inel of capilalised costs in 20231 93.209 33,298 5,044 48,673 20.443 47,440 13,708 19,636 93.209 80,346 73.647 66,845 5,044 11,580 48.673 26,566 20,443 23,624 47,440 14,489 13,708 17.612 19,636 5.961 210,255 1.703,117 40,349 210,255 250,604 281,451 532,055 1.950,140 Analysis by fund Unrestricied funds Reslricled funds 281,451 202,507 250.604 1,747.633 532,055 1,950.140 Trustees None of the Trustees lor any persons connected with Ihern} ￿ceiVed any remuneration or benefits from the Hospital during the year. Governance costs 2024 2023 Account8nw fees Independent ExaminerlAudit fees 11,1481 6,500 15,580 9,240 5,352 24.820 The expenditure for govemance costs was £5,35212023.. £24,820) which was all unreslricled. 15- LORD LEYCESTER'S HOSPITAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Employees The average monthly number of employeès dunng the year wa5.. 2024 Number 2023 Number Administration other Totsl Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 87.311 4,255 1,843 73,702 5,020 1,624 93,209 80,364 There is £115,79912023, £135,782) of employment cost is the LLH 450 project. Thère were no employees whose annual remuneration was £60.000 or more. 10 Tanglble flxed assets Freehold land and bulldlng$ irnprovernents Plant and FIxtUr￿ and equlpment filtfjnos Compute Total Cost Al 1 January 2024 Additions 633,844 83,775 140,689 77,226 935,534 Al 31 December 2024 633,844 83,775 140,689 77,226 935,534 Depreciation and Impalrment Al 1 January 2024 Depreciats'on charged in the year 12,677 12.677 52,216 3,507 33,940 12,287 23.003 13,556 121,836 42,027 Al 31 December 2024 25,354 55,723 46,227 36.559 163.863 Carrylng amount Al 31 December 2024 608,490 28,052 94,462 40,667 771.671 At 31 December 2023 621.167 31,559 106.749 54,223 813,898 Depreciation in the related lo the LH450 project is £40,349. The NBV o the project is £766,848. 16 LORD LEYCESTER'S HOSPITAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Stocks 2024 2023 Finished goods and goods for resale 26.958 25,023 12 Dobtors 2024 2023 Amounts falling due wlthln ono year: Trade debtors Other debtors Accrued Income 661 21,330 45,855 40 36,522 94,974 67,846 131,536 13 Credltorn: amounts falllng duo within one year 2024 2023 Other tsxation and social securfty Trade creditors Other creditors Accrua15 and defer￿d income Almshouse Assoaalion Loan 4,939 28,139 3,731 53,598 114,306 152,880 5,500 50,264 2,625 85,967 330.015 14 CredEtors: amounts falllng due after one year 2024 2023 Almshouse AssorAalion Loan 36,750 41,750 17- LORD LEYCESTER'S HOSPITAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Deslgnatsd funds The income funds of the charity include the following designated funds which have been set aside out of unrestricted fund5 by the trustees for specific purposes.. Balance at 1 January 2023 Transfers R8valuatlon5, Balanc8 at gains dnd 31 December losses 2023 Extraordinary repairs reserves Tangible fixed asset fund Operating dèficit fund 350,000 1244,8171 66,286 159.8851 126,603 188,1561 105.183 6,401 58,447 542,889 1372,8581 17Q,031 8alanc8 at 1 January 2024 Transfor5 Rovaluatlon8, alanc8 at galns and 31 Decemb8r 108s8s 2024 Extraordinary repairs reserves Tangible fixed asset fund lexc.NBV of capi181ized project) Operating deficit fund 105,183 6,401 58,447 117,583 {1,578} 41,553 222,766 4,823 100,000 170,031 157.558 327,589 19- LORD LEYCESTER'S HOSPITAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 17 Analysls of net asset5 betwoon funds Unrestrlctsd Deslgnat&d Restricted funds funds funds 2024 2024 2024 Total 2024 Fund balan￿S at 31 December 2024 are represented by.. Tangible assets Investments Current assetsjlliabilitiesl 4,823 766,848 771,671 322,766 322,766 327.589 786,848 1.094,437 Unrestricted Designated Restrl¢ted funds fund5 funds 2023 2023 2023 Totsl 2023 Fund bal8nces 8131 December 2023 are represented by.. Tangible assets Investments Current asselsllliabililiesl 6.401 807.297 813,698 163.630 163,630 170.031 807,297 977,328 18 Related party transactlons Mr M.Sewell is employed as an Investment Manager with Evelyn Partners Investrnenl Management LLP and some of the Hospital's investrnenls were held in the cusl¢xly of Evelyn Partners on an execution only basis. Currenuy there are just small cash holdings. 20-