REGISTERED CHARITY NUMBER: 216930
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
FOR
NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
Arnistrongs Bishop Simmons
Chartered AGcountants and Sta￿tOry Auditor5
Gethin House
36 Bond Street
Nuneaton
Warwickshire
CVII 4DA

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
Page
Report of the Trustees
Report of the Independent Auditors
Statement of Financial Activitie$
io
Balance Sheet
Notes to the Financial Statements
12 to 20
Detailed Statement of Financial Activities
21 to 22

ICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2023
The trustees present their report with the fmancial statements of the charity for the year ended 31 st December 2023. The
trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practlce
applicable to charities preparing their accounts in accordance with the Financial Reporttng Standard applicable in the
UK and Republic of Ireland (FRS 102) (effective l January 2019).
OBJECTIVES AND ACTIVITIES
Principal Activities
The principal activity IS the provision and maintenance of Almshouses and other affordable accommodation.
Objectives and aims
The objective of the Charity is the provision of housing accommodation for needy persons resident in the fornier Urban
District of Bedworth at the time of their appointtnent. The Charity's principal aim is to provide residents with a secure
and well-maintained home in a happy environrnent for as long as possible. The Governors are fillly aware of the need to
continue to modernise and improve the residences and work is carried out as and when required.
Public benefit
The Governors have had regard to the guidance issued by the Charity Commission on Public Benefit.
Page I

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2023
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The administration of the Charity is vested in l O Governors as set out on page 5. Unfortunately for this f￿anCIal year the
Charity has once again undertook its business without any nominated Govemors from the Local Authority and
Warwickshire County Council. It was hoped that this situation would change but unfortLsnately that was not to be. The
Charity does require a ￿11 board of Govemors in order to ensure that a wide range of experience is brought to the formal
meetings to help ensure good govemance of the Charity in order to achieve its charitable objects.
As previously reported the Charity had purchased the fornier Public Conveniences from the Local Authority and consent
had been granted for the change of use to provide two ground floor flats which were greatly needed. Having received a
detailed specification from a Quantlty Surveyor, the Architect wa5 iDStructed to go to tender to five local builders in
order to obtain competitive prices. Unfortunately, due to the issues with the War in Ukraine and the general shortage of
the labour only one teThder was received which was significantly in excess of the estimates provided by the Quantity
Surveyor and Architect. Having discussed this with the selected builder various elements were considered and a new
tender produced a figure of just under £310,000. There were a nurnber of exclusions namely cost of providing services
to the site and the omission of some fencing which was deemed unnecessary.
The Governors were delighted that work commenced at the end of August with an anticipated contract period of circa
six months. Unfortunately, due to severe wet weather throuJo out the winter months together with issues relating to some
made up ground resulting in additional foulldations being required the contract has been delayed and the Charity now
has an anticipated completion date of the end of July 2024.
The Governors are extremely grateful to the Nicholas Chatnberlaine's School Foundation for awarding a grant from their
surplus income of £133,860 which the Governors agreed would be ringfenced for this particular project. Further fimds
have been released the Charity's investments on their accumulated income with Quilter Cheviot and an application had
been made to Homes England via the Almshouse Consortium Limited. At the year end the award had yet to be approved
by Homes England but the Charity is pleased to report that following some excellent work by the Almshouse
Consortium Limited the application was approved and an overall grant of £155,000 was awarded and the fjrst tranche of
75 % was paid in the f￿st quarter of 2024.
The Charity are very much looking forward to the addition of these two flats to their existing portfolio and are extremely
grateful to all those involved in the decision making processes and ensuring the ￿ndS are available to meet the ongoing
Costs of conversion.
The Charity was able to carry out inspections of each flat which enabled a schedule of works to be prepared for
consideration by the Governors at a later date. Work on a number of flats will continue throughout the year especially
making improvements by way of modernisiThg the kitchens and bathrooms together with improving ventilation to reduce
the risk of mould and condensation which Can sometimes be a problem due to the solid wall construction of the
Almshouses. There are specific problems with some of the window stonework at The Parsonage allowing water
penetration and a listed building conseTht application will be submitted so that work can be undertaken to rectify the
problems encountered.
During the course of the year there was an incident relating to one of the concrete coping stones to the chimneys
becoming dislodged and whilst falling to the ground damaged a number of roof tiles. The Governors requested that a
defect report be undertaken on the chin]ney stacks to the north elevation and this was undertaken by Mr T Richardson
from Quinquennial Inspections Ltd. The inspection which was undertaken by the use of a large cherry picker found
issues to ten chimney stacks and a number of loose coping stones were removed on safety grounds and quotations would
need to be sought for these to be re-bedded and for the damaged roof to be made good. Due to the height of the
chimney5 the repair work could not be undertaken from the chery picker and therefore the use of scaffolding was the
only safe method of undertaking the repairs and this would add significantly to the cost. The Charity is in the fortunate
position to have built up some reserves in it5 extraordinary repair fund and these will be sufficient to undertake the work
but by doing so would deplete the funds significantly and therefore additional funding will be required in order to
replenish the reserves. The issues relattng to the maintenance of a listed building is very much at the forefront of the
Governors minds and they are aware of the need to budget for a series of ongoing defects that have been highlighted in
previous Quinquennial Inspections reports.
Page 2

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2023
The Governor5 strive to keep the increase in weekly maintenance contributions to a minimum but are ever mindful of the
needs to balance sufficient income to cover the day to expenditure. They do however use the forniula set by the
Regulator of Social Housing a5 they are a regulated social landlord to adjust the accommodation charge each year. The
Governors did decide to increase the servtce charge by a minimum amount in order to assist with the increased cost of
maintaining the communal areas.
One of the highlights of the Charity's year is Foundevs Day which is held on the last Friday in May before the children
break for the summer half tenn. The Almshouses were delighted to welcome over 800 pupils from the three schools that
are supported by the Nicholas Chamberlaine's School Foundation as well as other local schools who were invited to
attend. It wa5 a very special occasion which was led by Reverend Dave Poultney together with a live band and some
excellent singing from the school children. The Charity are extremely grate￿1 to their invited guests narnely. Tim Cox,
Lord Lieutenant of Warwickshire. Sophie Hilleary High Sheriff of Warwickshire. The Right Honourable Craig Tracey
MP. Councillor Martin Walsh and wife Sandra Walsh who joined in the celebrations and assisted with the handing out
of bun5 to the children.
The Charity welcomed to their Board of Trustees Mrs K Farnier as the nominated Governor from the Parochial Church
Council of All Saints Church, Bedworth and also local businessman Mr R Erskine. The Charity are extremely grateful to
both of them for giving up their time to attend the meetings on a regular basis and for making such positive contributions
during the course of those meetings.
Finally, the Governors wish to express their sincere thanks to Mrs D Goff in her role as Scheme Manager, Mr C Hill as
the Handyman and also to the contract cleaners who help maintain the communal areas of the Almshouses in a pristine
conditLOn.
FINANCIAL REVIEW
Financial position
The surplu5 for the year including net gains on investments was £136,742 (2022: Loss of £58,531). The surplus for the
year includes £123,640 of the grant received in the year from the Nicholas Chamberlaine School Foundation, for which
we are most gratefvl, which has not yet been spent. This grant Ilas been ringfenced for the Chapel Street Cottages
project.
The charity's total funds carried forward at 31 December 2023 were £1,987,171 (2022: £1,850,429).
The Charity's fmances are predominantly dependent on residents, contributions which consist of two elements being.
accommodation charge and service charge. The charges are set by the Governors at a reasonable level taking all relevant
factors into consideration together with the fact that they are a regulated social landlord.
Investment policy and objectives
The long-frnn aim of the Governors continues to manage the Endowment Fund of the Charity so as to provide a steady
increase in the source of income. It is also their policy to manage the iThvestment so as to give capital growth coupled
with adequate security of investrnent. The Governors investment powers are governed by the Trustees Act 2000.
Reserves policy
The Charity maintains an extraordinary repair ￿nd to help against major unexpected or long-terni items of repair or
improvement. This fijnd is established out of the income of the Charity and will become more Important due to the work
highlighted within the Quinquennial Report. The amount of contributions to the extraordinary repair fund is entirely at
the discretion of the Governors and it is Cu￿entlY held by the M&G Extraordinary Repair Fund with interest accruing to
the fjjnd.
It is the aim of the Governors to maintain the general fund at such a level as to enable contingencies to be met. The
Governors believe that the current level of reserves may no longer be sufficient to cover contingencies that may arise
and will endeavour to budget additional sums in the years ahead.
It is however to be noted that it is not the policy of the Charity to obtain excessive reserves.
Page 3

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2023
PLANS FOR THE FUTURE PERIODS
As previously mentioned in the Governors Report the Charity aim to continue to improve the welfare of their residents
by maintaining their flats to a high standard and to continue to protect the historic nature of the listed building.
Undoubtedly the focus of attention has been on the conversion to two ground floor residential flats and also ongoing
works to the chimneys and The Parsonage which will come from the Charity's extraordinary repair funds reserves.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitrjtes an unincorporated charity.
Reeruitment and appointment of new trustees
In selecting individuals for appointment as trustees, the trustees have regard to skills, knowledge and experience needed
for the effective administration of the charity. All of the Trustees are recruited by the Nicholas Chamberlaine's School
Foundation and once appointed by them become Trustees of Nicholas Chamberlaine's Hospital & Sernion Charity.
Structure, Governance & Management
The Charity was f￿st established under a schetne in September 1878 arising out of the will of Nicholas ChamberlaKne
dated 24th June 1715. It is constituted as an unincorporated association and now largely governed by a scheme dated
30th December 1986.
From 14th October 1975. the Charity is also a private registered provider of social housing.
The administration of the Charity is vested in seven cfroptative Governors, four nominated Governors and one
ex-officio Governor. Nominated Governors (who are also the Trustees for the purpose5 of the Charity) are nominated by
the Coventy Diocesan Education Committee, the Parochial Church Council of All Saints. Bedworth, Nuneaton &
Bedworth Borough Council, and Warwickshire County Council. The ex-officio Govemor is the Rector of Bedworth for
the time being. The Governors are also Governors of the Nicholas Chamberlaine School Foundation (Registered Charity
number 528762). The co-optative Governors are chosen by the existing Governors being people considered to have a
particular iThterest in the work of both the Hospltal Charity and the School Foundation or knowledge and experience
likely to assist in their proper administration. No Governor receives any remuneration.
A Solicitor, a Stockbroker and a Chartered Surveyor advise the Governors as required by reporting to the meetings.
Meetings are held six times a year when recornmendations are made and decisions taken. The Charity no longer has a
House Committee as it was felt a lot of duplication was taking place which is why the full board of Governors now meet
six times a year. At other times decisions are taken by the Chairnian in conjunction with the various advisors when minor
matters are dealt with in a timely Manner.
The Charity is not dependent upon the support of any individuals nor does it engage the services of any volunteers.
The Governors have examined the major strategic, business and operational risk5 which the Charity faces and confllm
that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to
reduce those risks.
Induction and training of new trustees
Trustee's must make available to each new trustee on their fwst appointsnent: a copy of the Deed and any amenthnents to
it, a copy of the Charity's latest report and statement of account5. The should emphasise the Responsibilitie5 of the
Trustees detailed in the Report.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate
controls are in place to provide Teasonable assurance against fraud and C￿0[.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
216930
Page 4

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2023
Principal address
The Administration Office
All Saints Square
Bedworth
CV12 8NR
Trustee5
Mrs J Corrigan
Mrs J Jones (resigned 18.1.2023)
Mr R Maggs
Mrs A Gold
Rev D Poultney
Mr M L Gutteridge
Mr K Corrigan
Mrs J Knight
Mrs B Knight
Mrs K Fanner (appointed 22.3.2023)
Mr R Erskine (appointed 12.7.2023)
Auditors
Arn￿trongS Bishop Simmons
Chartered Accountants and Statutory Auditors
Gethin House
36 Bond Street
Nuneaton
Wanvickshir¢
CVI14DA
Bankers
HSBC
516 High Street
Cathedral Lanes
Coventy
West Midlands
CVI 5RE
Solicitors
Band Hatton Button
Earlsdon Park
53-55 Butts Road
Coventy
CVI 3BH
Stockbrokers
Quilter Cheviot
1st Floor
7 Dominus Way
Leicester
LE19 IRP
Patron
Position Vacant
The Clerk
Mr M F H White clo Coventy Church (Municipal) Charities
Page 5

NICHOLAS CHAMBERLAINE'S HOSPITAL
AIYD SERMON CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2023
ASSESSMENT OF COMPLIANCE WITH GOVERNANCE AND FINANCIAL VIABILITY STANDARD
The Charity has cornplied with the Governance and Financial Viability standard Code of Practice. The code of
governance adopted is the Standards of Almshouse Management.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the fmancial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports)
Regulations 2008 and the provisions of the trust deed requires the trustees to prepare fmancial statements for each
financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and
application of resources. including the income and expenditure, of the charity for that period. In pr¢paring those
fmancial statements, the trustees are required to
select suitable accounting policie5 and then apply them consistently.
observe the methods and principles in the Charity SORP.
make judgements and estimates that are reasonable and prudent.
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will
continue in business.
The trustee5 are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time
the fmancial position of the charity and to enable them to ensure that the f￿ancial statements comply with the Charitie5
Act 201 I, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities.
Approved by order of the board of trustees on 12th June 2024 and signed on its behalf by:
Mrs J Corrigan- Trustee
Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
Opinion
We have audited the financial statements of Nicholas Chamberlaine's Hospital And Sernion Charity (the 'charity') for the
year ended 315t December 2023 which comprise the Statement of Financial Activities, the Balance Sheet and notes to
the fmancial statements, including a summary of significant accounting policies. The fmancial reporting framework that
has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice).
In our opinion the fmancial statements:
give a true and fair view of the state of the charity's affairs as at 31 st December 2023 and of its incoming resources
and application of resources, for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law.
Our responsibilities under those standards are fvrther described in the Auditors, responsibilities for the audit of the
financial statements section of our report. We are independent of the charity in accordance with the ethical requirements
that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have
Ifilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going eoncern
In auditing the fmancial statements, we have concIuded that the trustees, use of the going concern basis of accounting in
the preparation of the f￿anCIal statements is appropriate.
Based on the work we have perfonned. we have not identified any material uncertainties relattng to events or conditions
that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a
period of at least twelve months from when the f]nancial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant
sections of thls report.
Other information
The trustees are responsible for the other inforniation. The other infornlation comprises the inforn￿tiOn included in the
At)nual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the fllRancial ststements doe5 not cover the other infornlation and. except to the extsnt otherwise
explicitly stated in our repor¢ we do not express any form of assurance conclusion thereon.
In connection with our audit of the fjnancial ststements, our responsibility is to read the other inforniation and, in doing
so, consider whether the other inforniation is materially inconsistent with the financial statements or our knowledge
obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatements, we are required to detem]ine whether this gives rise to a material misstatement in the
fmancial statements themselves. If. based on the work we have perfonned. we conclude that there is a material
mi5ststement of this other inforn￿tion. we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations
2008 requires us to report to you if. in our opinion:
the infonnation given in the Report of the Trustees is inconsistent in any material respect with the financial
staternents- or
sufficient accounting records have not been kept. or
the fmancial statements are not in agreement with the accounting record5 and returns. or
we have not received all the infonnation and explanations we require for our audit.
Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMOIY CHARITY
Responsibilitie5 of trustees
As explained more fully in the Statement of Trustees, Responsibilities, the trustees are responsible for the preparation of
the financial statements which give a true and fair view, and for such internal control as the trustees detern]ine is
necessary to enable the preparation of fmancial statements that are free from material misstatement, whether due to fraud
or error.
En preparing the f￿ancIal Statements, the trustees are responsible for assessing the charity's ability to continue as a going
concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting
unless the trustees either intend to liquidate the charity or to cease operations. or have no realistic alternative but to do
so.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act
and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the fmancial statements as a whole are free from
material misstatement. whether due to fraud or error. and to issue a Report of the Independent Auditors that includes our
opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error
and are considered material if, individually or in the aggregate, they could reasonably be expected to iThfluence the
economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below..
We obtained an understanding of the legal and regulatory framework applicable to both the charity itself and the sector
in which it operates. We identified areas of laws and regulations that could reasonably be expected to have a material
effect on the fmancial statements from our sector experience and through discussion with the trustees and other
management. The most significant were identified as the Charities Act 201 l and Charities SORP (FRS102).
We considered the extent of compliance with those laws and regulations as part of our procedures on the related
financial statements. Our audit procedures included-.
making enquires of management a5 to where they consider there to be a susceptibility to fraud and whether they have
any knowledge or suspicion of fraud.
obtaining an understanding of the internal contro15 established to mitigate risks related to fraud or non-compliance with
laws and regulations.
- assessing the design effectiveness of the controls in place to prevent and detect fraud.
assessing the risk of management override including identifying and testing journal entries.
- Challenging the assumptions and judgements made by management in its signifi¢8nt accounting estimates.
Whilst our audit did not identify any significant matters relating to the detection of irregularities including fraud, and
despite the audit being planned and conducted in accordance with ISAS (UK), there remains an unavoidable risk that
material misstatements in the financial stat¢ments may Thot be detected owing to inherent lirnilations of the audit. and that
by their very nature, any such instances of fraud or irregularity would likely involve collusion, forgery, intentional
misrepresentation5. or the override of internal controls.
A further description of our responsibilities for the audit of the fmancial statements is located on the Financial Reporting
Council's website at www.frc.org.uklauditorsresponsibilities. This description forn￿ part of out Report of the
Independent Auditors.
Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
IYICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and
Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those
matters we are required to state to them in an auditors, report and for no other purpose. To the ￿lIest extent pennitted by
law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for
our audit work, for this report, or for the opinions we have fornied.
AfMSLY
6ifvP
Armstrongs Bishop Sinllnons
Chartered Accountants and Statutory Auditors
Gethin House
36 Bond Street
Nuneaton
Warivickshire
CVI14DA
12th June 2024
Page 9

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST DECEMBER 2023
2023
Total
funds
2022
Total
funds
Unrestricted
fiinds
Restricted
nds
Endowment
nd
Notes
INCOME AND
ENDOWMENTS FROM
Charitable aetiviti¢s
Letting of properties
Grant income
190,261
190,261
133,860
180,575
133,860
Investment income
31,482
31,482
23,794
Total
221,743
133,860
355.603
204,369
EXPENDITURE ON
Charitable activities
Letting of propertie5
214,143
29.514
9,147
252,804
215,116
Net gainsl(losses) on
investments
11,344
22,599
33.943
(47,784)
NET
INCOME/(EXPENDITURE)
18.944
104,346
13,452
136,742
(58,531)
RECONCILIATIOIWI OF
FUNDS
Total funds brought forward
578.936
533.267
738,226
1,850,429
1,908,960
TOTAL FUNDS CARIUED
FORWARD
597,880
637.613
751,678
1,987,171
1,850,429
The notes fonn part of these financial statements
Page 10

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
BALANCE SHEET
31ST DECEMBER 2023
2023
2022
Notes
FIXED ASSETS
Tangible assets
Investments
857,981
783,405
763,865
749,958
1,641,386
1,513,823
CURRENT ASSETS
Debtors
Investments
Cash at bank and in hand
44,467
10.577
320,L38
42,180
127.078
184,495
375,182
353,753
CREDITORS
Amounts falling due within one year
io
(29,397)
(17.147)
NET CURRENT ASSETS
345,785
336,606
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,987,171
1,850,429
NET ASSETS
1,987,171
1,850,429
FUNDS
Unrestricted funds
Restricted ￿Thds
Endowment funds
12
597.880
637,613
751,678
578,936
533,267
738,226
TOTAL FUNDS
1,987.171
1.850,429
The fmancial statements were approved by the Board of Trustees and authorised for issue on 12th June 2024 and were
signed on its behalf by-
Mrs J Corrigan- Trustee
The notes forni part of these financial staternents
Pagell

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
ACCOUNTING POLICIES
Basis of preparing the financial statements
The charity constitutes a public benefit entity as defmed by FRS 102. The f￿ancIal 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 issued in October 2019. the Financial Reporting Standard applicable in the
United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted
Accounting Practice.
The ffftancial statements are prepared on a going concern basis under the historical cost convention. modified to
include certain items at fair value. The fmancial statements are presented it1 sterling which is the functional
currency of the charity and rounded to the nearest £.
Nicholas Chamberlaine's Hospital and Sernion Charity is an unincorporated registered charity and a private
registered provider of social housing in the United Kingdom. The address of the principal office is given in the
charity infonllation on page l of these fmancial statements. The nature of the charity's operations and principal
activities are the provision and maintenance of 28 affordable units of housing at Almshouses. The principal
activities of the registered Almshouses are not governed by the Landlord and Tenants Act 1985.
The significant accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all years presented unless othenwise stated.
Income
All incoming resources are included in the Ststement of Financial Activities when the charity is legally entitled to
the income after any perfonnance conditions have been met. the atnount can be measured reliably and it is
probable that the income will be received. Income represents amounts invoiced by the charity in respect of
services provided.
Investment income is earned through holding assets for investment purposes such as shares. It includes dividends
and interest. It is included when the amount can be measured reliably. Interest income is recognised using the
effective interest method and dividend is recognised as the charity's right to receive payment is established.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committin8 the
charity to that expenditure. it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has
been classified under headings that aggregate all cost related to the category. Where costs cannot be directly
attributed to particular headings they have been allocated to activities on a basis consistent with the use of
resources.
Tangible flled assets
Housing and other properties which comprise of the Almshouses, the Nurse5 Home and the Parsonage are stated
at cost less accumulated depreciation. Freehold land is not depreciated. Depreciation is charged so as to write
the cost of properties to their estimated residual value on a straight line basis over their expected useful
economic lives. Useful economic lives have been estimated to be 50 years for the Almshou5e5, Nurses Home &
Parsonage.
The Propety known as Chapel Street Cottages (the former public conveniences adjoining the almshouses) is still
awaiting conversion to two ground floor fiats, therefore it is currently not being depreciated.
Taxation
The charity is an exempt charity within the meaning of 5cheduEe 3 of the Charities Act 201 l and is considered to
pass the tests set out in Paraoraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a
charity for UK income tax purposes.
Page 12
continued...

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023
ACCOUNTING POLICIES - continued
Taxatio
The charity is not VAT registered and all figures in the fmancial statements are therefore inclusÈve of appllcable
VAT.
Fund structure
Unrestricted funds are available for use at the discretion of the Governors in furtherance of the general objectives
of the charity and which have not been designated for other purposes.
Designated ￿ndS comprise uThrestri¢ted fvnds that have been set aside by the Governors for particular purposes.
The Extraordinary Kepair Fulld is a designated fund and the aim and use of the fijnd is set out in the notes to the
financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or
which have been raised by the charity for particular purposes. The charity does not have, at presen¢ any
restricted fimds.
Endowment ￿Thds represent those assets which must be held pernianently by the charity. Income arising from the
endowment funds can be used in accordance with the objects of the charity and is included in unrestricted
income. Any capital gains or losses arising on the investments fomi part of the fund.
Pension costs and other post-retirement benefits
The charity operates a def￿ed contribution pension scheme. Contributions payable to the charitys pension
scheme are charged to the Statement of Financial ActLVlti¢s in the period to which they relate.
Soeial housing and other grants
Where developments have been f￿anCed wholly or partly by social housing grants and other capital grants, the
grant is to be treated as a r¢stri¢ted fimd and depreciation charged against the fund over its expected useful
economic life.
Revenue grants are recognised when the charity has entitlement to the funds. any perfomiance conditions
attached to the grants have been met. It is probable that the income will be received and the amount can be
measured reliably and it is not deferred.
Going concern
The fmancial Statements have been prepared on a going concern basis as the trustees believe that no material
uncertainties exist. The trustees have considered the level of funds held and expected level of income and
expenditure for twelve months from authorising these fllwicial statements. The budgeted income and
expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the Charity's accounting policies. which are described in note l. the governors are required
to make judgements. estimates and assumptions about the carying value of assets and liabilities that are not
readily apparent from other sources. The estimates and underlytng assumptions are based on historical
experience and other factors that are considered to be relevant. Actual re5uIt5 may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognised in the period in which the estimate is revised if the revision affects only that period or in the
period of the revision and future periods if the revision affects both current and future periods.
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the fuLancial
statements are described below..
Page 13
continued...

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
continued
The annual depreciation charge for tangible assets is sensitive to change in the estimated useful lives of the
assets. The useful economic lives are re-assessed annually. They are amended when necessary to reflect current
estimates, based on future investments, economic utilisation and the physical condition of the assets.
INVESTMENT INCOME
2023
2022
Dividends received
Interest receivable
22,512
8,970
22,645
1,149
31,482
23,794
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 3 1st December 2023 nor for the year
ended 3 1st December 2022.
Trustees, expenses
Trustee expenses reimbursed in the year amounted to £187 (2022 £682).
STAFF COSTS
2023
2022
Wages and salarie5
Other pension oosts
34,543
714
36,716
642
35.257
37.358
The key management peTsonnel of the charity was the Clerk to the trustees and the charity was invoiced £33,000
for his services (2022 - £19.800).
The average monthly number of employees during the year was as follows:
2023
2022
Staff: Management of properties
No employees received emolumeThts in excess of £60,000.
Page 14
continued...

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023
TANGIBLE FIXED ASSETS
Freehold
propety
COST
At I st January 2023
Additions
1,334,219
119.828
At 3 1st December 2023
1,454,047
DEPRECIATION
At 1st January 2023
Charge for year
570,354
25,712
At 3 1st December 2023
596,066
NET BOOK VALUE
At 3 1st December 2023
857,981
At 3 1st December 2022
763,865
Chapel
Street
Cottages
Nurses Home &
Parsonage
Almshouses
Total
Freehold properties breakdown
COST
At l January 2023
Additions in the year
48,615
119,828
1,054,586
231,018
1,334,219
119,828
At 31 December 2023
168,443
1,054,586
231,018
1,454,047
DEPRECIATION
At l January 2023
Charge for the year
459.392
21.092
110,962
4,620
570,354
25,712
At 31 December 2023
480,484
115,582
596,066
NET BOOK VALUE
At 31 December 2023
At 31 December 2022
168,443
48,615
574.102
595,194
I l5,436
120,056
857.981
763,865
Page 15
ontinued...

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
NOTES TO THE FINANCIAL STATEiWIENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023
FIXED ASSET INVESTMENTS
Listed
investments
MARKET VALUE
At 1st January 2023
Additions
Disposals
Revaluations
749.958
105,944
(108,548)
36,051
At 3 1st December 2023
783,405
NET BOOK VALUE
At 31st December 2023
783,405
At 31st December 2022
749,958
There were no investtnent assets outside the UK.
Listed
Investments £
Revaluations comprise
Net investment realised gains
Net investment unrealised gains
27.062
8,989
36.051
Investments at fair value comprise:
Securities
Cash within investment portfolio
783,405
(included within other debtors)
783,405
The fair value of listed investments is deternlined by reference to the portfolio report provided by Quilter
Cheviot. The prices for quoted securities are the mid-market closing prices provided by the London Stock
Exchange.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
Other debtors
Balance with stockbrokers
Prepayments and accrued income
1.546
28,661
14.260
29,179
13,001
44,467
42,180
Page 16
continued...

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023
CURRENT ASSET INVESTMENTS
2023
2022
Listed investtnents
10,577
127,078
The fair value of the listed investments is detennined by reference to the quoted price for identical assets in an
active market at the balance sheet date.
io.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
Trade creditors
Social security and other taxes
Pensions control
Accrned expenses
14,938
8,759
1.271
(24)
7,141
14,459
29,397
17,147
ANAL YSIS OF NET ASSETS BETWEEN FUNDS
2023
Total
funds
2022
Total
funds
Unrestricted
funds
Restricted
funds
Endowment
fund
Fixed assets
Investments
Current assets
Current liabilities
48,615
230.909
347,753
(29,397)
633,846
175,520
552,496
23,662
857,981
783,405
375.182
(29,397)
763.865
749,958
353,753
(17,147)
3,767
597,880
637,613
751,678
1,987,171
1,850,429
12.
MOVEMENT IN FUNDS
Net
movement
in funds
At
31.12.23
At 1.1.23
Unrestricted funds
General fund
1,000 Fund
Extraordinary Repair Fund
Chapel Street Cottages Fund
312.864
1,079
216,378
48,615
5,492
18
13,434
318,356
1.097
229,812
48,615
578.936
18.944
597,880
Restricted funds
Housing Grant Restricted Fund
533,267
104.346
637,613
Endowment funds
Capital Endowment Fund
738,226
13,452
751,678
TOTAL FUNDS
1.850.429
136.742
1,987.171
Page 17
continued...

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
NOTES TO THE FINANCIAL STATEMENTS - eontinued
FOR THE YEAR ENDED 31ST DECEMBER 2023
12.
MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General ￿nd
I,000 Fund
Extraordinary Repair Fund
221,743
(214,143)
(2.108)
18
13,434
5,492
18
13,434
221.743
(214,143)
11,344
18,944
Restricted funds
Housing Grant Restricted Fund
133.860
(29,514)
104,346
Endowment funds
Capital Endowment Fund
(9,147)
22,599
13,452
TOTAL FUIYDS
355.603
{252,804)
33,943
136,742
Comparatives for movement in funds
Net
movement
in funds
Transfer5
between
funds
At
31.12.22
At 1.1.22
Unrestricted funds
General ￿nd
1,000 Fund
Extraordinary Repair Fund
Chapel Street Cottages Fund
322,374
I,122
228,572
(9,785)
(43)
1,696
275
312.864
1,079
216,378
48,615
(13,890)
48.615
552,068
(8,132)
35,000
578,936
Restricted funds
Housing Grant Restricted Fund
New Project Fund
552,516
35.000
(19,249)
533,267
(35.000)
587,516
(19,249)
(35,000)
533,267
Endowment funds
Capital Endowment Fund
769,376
{31,150)
738,226
TOTAL FUNDS
1,908,960
(58,531)
1.850.429
Page 18
continued..-

NICHOLAS CHAMBERLAIIYE'S HOSPITAL
AIYD SERMON CHAIUTY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023
12.
MOVEMENT IN FUNDS - continued
Comparative net movernent in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Gains and
losses
Movement
in fijnds
Unrestricted funds
General fund
1,000 Fund
Extraordinary Repalr Fund
204.369
(188.204)
(25,950)
(43)
1,696
(9,785)
(43)
1.696
204.369
(188.204)
(24,297)
Restricted funds
Housing Grant Restricted Fund
(8,132)
(19,249)
(19,249)
Endowment funds
Capital Endowment Fund
(7,663)
(23,487)
(31,150)
TOTAL FUNDS
204,369
(215,116)
(47,784)
(58,531)
The extraordinary repair fund is a fund designated by the governors of the charity to meet future extraordinary
repairs through an annual transfer of no le55 than £520, detern]ined by the Trustees.
The 1,000 fund is for the benefit of poor persons or for such charitable purposes that the governors think fit
from time to time.
Depreciation is being charged against the fund each year on a straight line basis, over the expected useful
economic lives of all of the properties which has been estimated to be 50 years.
The capital endowment Ojnd represents the value of assets held either as property or investments for the long
tenn benefit of the Charity.
Within the Restricted funds a grant was received from Nicholas ChamberLaines School Foundation totalling
133,860 for the renovation of Chapel Street Cottages.
13.
RELATED PARTY DISCLOSURES
The Nicholas Chamberlaine 's School Foundation Charity, which has common trustees, provided a grant during
the year which has been designated by the Governors to be spent on the Chapel Street Cottages project. Total
grants received during the year lotalled £133,860 for thi5 year (2022.- £Nil).
Page 19
continued...

NICHOLAS CHAMBERLAINE'S HOSPITAL
AIYD SERMON CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023
14.
PENSIONS
Defined contribution Pension Plan
The charity operates a defined contribution pension plan for its employees. The amount recognised as an expense
in the period was £714 (2022.. £642).
15.
ACCOMODATION IN MANAGEMENT
2023
2022
Almshouse accommodation units - housing for older person5
28
28
28
28
Page 20