REGISTERED CHARITY NUMBER: 216930
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
FOR
1¥41CHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
Arn]strongs Bishop Simmims
Chartered Accountants and Ststutory Auditois
Gethin House
36 Bond Street
Nuneaton
Warwickshtre
CVII 4DA

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHAIUTY
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR EIYDED 31ST DECEMBER 2024
Page
Report of the Trustees
Report of the Independent Auditors
7 to 9
Statement of Financlal Activities
io
Balanee Sheet
otes to the Financial Statements
12 to 20
Detailed Statement of Ffinancial Activltfies
21 to 22

ICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024
The trustees present their report with the financial statements of the Charity for the year ended 3 1st December 2024. The
trnstees have adopted the provisions of 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 ol 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 appointment. The Charity's principal aim is to provide residents with a secure
and well-maintained home in a happy environment for as long as possible. The Trnstees are fully aware of the need to
¢ontinue to modernise and improve the residences and work is carried out as and when required.
Publle benefit
The Tn]stees have had regard to the guidance issued by the Charity Commission on Public Ben¢fit.
Page I

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMOIY CHARtTY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The past few years have been dominated by the purchase of the fonner Public Conveniences from the Local Authority,
obtaining planning consent. going to tender and fmally making a start onsite. Work commenced at the end of August
2023 and was eventually completed in September 2024. The work took consideTably longer than was first envisaged due
to poor weather, struc￿ra1 issues. break-ins and health problems with the principal contractor. The Trustees are
delighted with the finished properties and they soon secured two new beneficiaries who took occupation in November
2024. Unfortunately, there were some teething problems with the water pressure which resulted in a poor perforn)ance of
the electric boilers. The issue relating to the water has now thank￿llY been resolved.
The Trustees held a ceremony to bless the new properties wbicb were the first additions to the Almshouses for nearly
200 years. The Trnstees wish to express their sincere thanks to Homes England whose grant of £155.000 made this
project financially viable. In last years accounts the Governors reported and gave thanks to the Nicholas Chamberlaine's
School Foundation for their grant of £133,860 which Wds ringfenced for this project and onc¢ again without their
support these Almshouses would not have been built.
At the time of this report the balance of the grant of £38,750 (250/0) is still outstanding due to issues relating to the audit
trail for Homes England purposes. It is hoped that the final tranche will be paid in the next few weeks.
The Charity ¢arried out annual inspections of each flat which enabled a schedule of works to be prepared for
consideration by the Trustees at a later date. Work on a number of flats will continue throughout the year especially
making improvements by way of modernising kn'tcbens and bathrooms together with improving ventilation to reduce the
risk of mould and cond¢nsation which Can som¢times become a problem due to the solid wall Constn￿tiQn of the
Almshouses.
Last year we reported specific problems with some of the stonework above the windows at The Parsonage and l am
pleased to report that this work has now been completed although this was after the financial year end.
Last year the Charity also reported that there was an incident relating to part of a concrete coping stone to the Chimney
on the north elevation and having obtained listing building consent and quotations the Charity proceeded with substantial
Tepairs to eight chimney Stacks on the north elevation which due to the height of the chirnney stacks a very substantial
scaffold structure was erected to ensure safe working conditions.
The administrdtion of the Charity is meant to be carried out by twelve Trustees as set out in our Charitable Scheme.
Unfortunately for this financial year the Charity has once again had to undertske its business without a nominated
Trustee from Wanvickshire County Council. We were delighted that Councillor Bill Hancox was nominated by the
Local Authority and since he has become a Trnstee and his knowledge. insight with the Local Authority has been of
great benefit to the Charity. We have also welcomed Mr P Spencer to the Board of Governors. Mr Spencer is a local
businessman and whilst his appointment ¢ame after the financial year end, we are delighted that he has joined the Board.
The Trustees strive to keep the increase in weekly maintenance contributions to a minimum but are ever mindful of tbe
needs to balance sufficient income to cover the day-to-day expenditure. They are obliged to use the forniula set by the
Regulator of Social Housing as they are a registered social landlord to adjust the accommodation chaTge each year. The
Trustees did decide to increase the service charge by a small amount in order to a55lSt with the increased cost of
maintsining the communal areas.
The Charity was once again able to hold its annual Founder's Day in the Quadrangle on the last Friday in May before the
children break for the summer half terni. The Almshouses were delighted to welcome over 800 pupils from three of the
Ni¢hola5 Chamberlaine School Foundation Schools as well as other local schools who were invited to attend. This very
special and unique occasion was led by Reverend Dave Poultney together with a live baTJd and some excellent singing
from the school children. The Charity are extremely grdteful to their invited guests namely Sir Matthew Dugdale Deputy
Lord Lieutenant of Warwickshire, The Right Honourable Craig Tracey MP together with the Mayor Councillor Bill
Hancox and his wife Sheila who joined in the celebrations and assisted with the handing out of buns lo the children.
Page 2

NICHOLAS CHAMBERLAtNE'S HOSPITAL
AND SERMON CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024
The Trustees wish to express their sincere thanks to Mrs D Goff in her role as Scheme Manager and also Mr C Hill in
his role as the Handyman. They both work extremely hard to ensure the wellbeing of the residents and also organise
many social ￿nCtionS which are held on a regular basis. The Charity employs contra¢t cleaners who help maintain the
communal area5 of the Almshouses and our thanks go to those two individuals who both work on a part time basis.
Sadly during the COUTse of the yeaT Mrs B Knight who had been a Trustee for seven years died. Beryl had been a very
active Tntstee and her astute financial prowess will be greatly missed. Beryl look a very keen interest in both Nicholas
Chamberlaine Charities and ran this Charity's finances for over a year when the Clerk was unable to undertake this
function.
Finally, we would like to thank Jane co￿lgall for her ChaIrnw￿hip of the Charity for the last eight years. Jane took the
difficult decision to stand doM) and held her last meeting as Chaimian of the Charity in December 2024. The Charity are
indebted to her for her strong leadership and almost daily attendance at the Almshouses to ensure everything ran as
smoothly as they have done and everybody involved in the Charity wished her well and thank her on¢e again for her
strong sfrwardship and for leading by example.
FINAIYCIAL REVIEW
Financial position
The surplus for the year including net gains on investments was £174,477 (2023.. Surplus of £136.742). The surplus for
the year includes £155,000 of the grdnt received in the year from the Homes England, for whtch we are most grateful.
This grant has been ringfenced for the Chapel Street Cottages proj¢¢t.
The charity's total funds carried fonvard al 31 December 2024 were £2,161.648 (2023.. £1,987.171 }.
The Charitys finances are predominanily dependent on residents, contributions which consist of two elements being.
accommodation charge and service charge. The charges are set by the Trustees at a reasonable level taking all relevant
factors into consideration together with Ihe fact that they are a Tegulated social landlord.
Investment policy and objectives
The long-terni aim of the Trnstees 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 investment so as to give capitsl gro￿tth coupled
with adequate security of investment. The Trustees investment powers are governed by the Trustees Act 2000.
Reserves poliey
The Charity maintains an extraordinary repair fund to help budget against major unexpected or long-tern] items of repair
or improvement. This fund is eslablished out of the income of the Charity and will become more important due lo the
work highlighted within the QuinqueJ]nial Report. The amount of contributions to the extraordinary Tepair fund is
entirely at the discretion of the Tn￿te¢S and it is currently held by the M&G Extraordinary Repair Fund with interest
accruing to the fimd.
It is the aim of the Twstees to maintain the general fimd at such a level as to enable contingencies to be met. The
TTUStees believe that the cu￿ent 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 retain excessive reserves.
PLANS FOR THE FUTURE PERIODS
As previously mentioned in the Trustees Report the Charity aims to continue to improve the welfare of theiT residents by
rnaintaining their flats to a high standard and to continue to prote¢1 the historic natUTe of the listed building and their
grounds.
Towards the end of 2024 the property known as The Nurse's House became vacant and this is in need of a substantial
refijrbisbment and additional works to bring it up to the current fire regulations. During the course of the current year
listed building consent will be applied for to make internal alterations to the propety and it is hoped that consent will be
granted and that work will carried in the late Summerlearly Autumn of 2025.
Page 3

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMOIY CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024
STRUCTURE, GOVERNANCE AIYD MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trnst and constitutes an unincoryorated charity.
Recruitment and appointment of new trustees
In selecting individuals for appointment as T￿slee$, the Trustees have regard to skills, knowledge and experience
needed for the effective administration of the Charity. All of the Trustees are Tecrnited by Nicholas Chamberlaine's
School Foundation and once appointed by them become TTUStees of Nicholas cl￿nberIaXne's Hospital & Semon
Charity.
Structure, Governanee & Management
The Charity was r￿st established under a scheme in September 1878 arising out of the will of Nicholas Chamberlaine
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 ChaTity became a private registered provider of social housing.
The administration of the Charity is vested in seven co-optative Trnstees, four nominated Trustees and one ex-officio
Trustee. Nominated Trusfres (who are also the Trnstees for the purposes of the Charity) are nominated by tbe Coventy
Diocesan Education Cornmittee, the Paro¢hial Church Council of All Saints. Bedworth, Nuneaton & Bedworth Borough
Council, and Warwickshire County Council. The ex-officio Trnstee is the Rector of Bedworth for the tsme being. The
Trustees are also Trustees of the Nicholas Chamberlaine School Foundation (Registered Charity number 528762). The
co-optative Trustees are chosen by the existing Trustees being people considered to have a particular int¢rest in the work
of both the Hospital Charity and the School Foundation or knowledge and experience likely to assist in their proper
administration. No Trustee receives any remuneration.
A Solicitor, a Stockbroker and a Chartered Surveyor advise the Trustees as required by reporting to the meetings.
Meetings are held six times a year when Tecommendations are made and decisions taken. The Charity no longer has a
House Cornmittee as it was felt a lot of duplication was taking place which is why the full board of Trustees now meet
six times a year. At other times decisions are taken by the Chairnmn in conjunction with the vaTiOUS advisors when minor
matters are dealt with in a timely manner.
The Charity is not dependent upon tbe support of any individuals nor does it engage the services of any volunteers
except on Founder's Day to help with the mar5halling of the publi¢.
Tbe Trusfres have examined the major strategic, busines5 and operational risks which the Charity faces and confirni that
systems have been established to enable regular reports to be produced so that the necessary steps can be taken to reduce
those risks.
Inductlon and training of new trustees
TTUStees must make available to each new Trustee on their first appointment.. a copy of the Deed and any amendments to
IL a copy of the Charity's latest Teport and statement of accounts. They should emphasise the Responsibilities of the
Tn￿tee$ detailed in the Report.
Risk management
The trustees have a duty to iaentify and review the risks to which the charity is exposed and to ensure appmpriate
controls are in place to provide reasonable assurance against fraud and erTOr.
REFEREIYCE AND ADMINISTRATIVE DETAILS
Registered Charity nurnber
216930
Principal address
The Administration Otrice
All Saints Square
Bedworth
CV12 8NR
Page 4

IYICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMOIY CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024
Trustees
Mrs J Corrigan
Mr R Maggs
Mrs A Gold
Rev D Poultney
Mr M L Gutteridge
Mr K CorTigan
Mrs J Knight
Mrs B Knight (deceased 30.8.2024)
Mrs K Farnier
Mr R Erskine
Mr P Spencer (appointed 29.1.2025)
Mr W Han¢ox (appointed l 0.7.2024)
Auditor5
Annstrongs Bishop Simmons
Chartered Accountants and Statutory Auditors
Gethin House
36 Bond Street
Nuneaton
Wanvickshire
CVII 4DA
Bankers
HSBC
516 High Street
Cathedral Lanes
Coventy
West Midlands
CVI 5RE
Solicitors
Band Hatton Button
Earlsdon Park
53-55 Butts Road
Coventry
CVI 3BH
Stockbrokers
Quilter Cheviot
I st Floor
7 Dominus Way
Ltirester
LE19 IRP
Patron
Position Vacant
The Clerk
Mr M F H White clo Coventy Church (Municipal) Charities
ASSESSMENT OF COMPLIANCE WITH GOVERNANCE AND FINANCIAL VIABILITY STAIYDARD
The Charity has complied with the Governance and Financial Viability Standard Code of Practice. The code of
governance adopted is the Standards of Almshouse Management.
Page 5

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2024
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with
applicable18w 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 financial statements for each
financial yeai 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 preparing those
financial statements, the tNstees are required to
select suitable accounting policies and then apply them consistently.
observe the methods and principles in the Charity SORP.
make judgements and estimates thal are reasonable and prndent.
prepare the financial statements on the going concern basis unless it Is inappropriate to presume that the charity will
continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time
the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities
Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trnst 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 tsustees on 18th June 2025 and signed on ils behalf by..
Mr M L Gutteridge - Trustee
Page 6

REPORT OF THE tNDEPENDENT AUDITORS TO THE TRUSTEES OF
NICHOLAS CHAMBERLAINE'S HOSPITAL
AIYD SERMON CHARITY
Opinion
We have audited the fmancial ststements of Nicholas Chamberlaine's Hospital And Sernion Charity (the 'Charit￿) for the
year ended 3 1st December 2024 which cornprise the Statement of Financial Activities, the Balance Sheet and notes to
the financial statements, including a summary of significant accounting policies. The financial 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 financial statements..
give a true and fair view of the state of the charitys affairs as at 31 st December 2024 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 fijrther described in the Auditors, responsibilities for th¢ audit of the
financial statements section of our report. We are independent of the charity in accordance with the ethical requirements
thal are relevant to our audit of the fmancial statements in the UK. including the FRC'S Ethical Standard, and we have
fulfilled our other ethical responsibilities in accordan¢e 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 concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in
the preparation of the financial statements is appropriate.
Based on the work we have perfornied, we have not identified any material uncertainties relating to events or conditions
thaL individually or collectively, may cast significant doubt on the Charity's ability to continu¢ as a going concern for a
period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilitxes of the trnstees with respect to going concern are described in tbe relevant
sections of this report.
Other information
The tTUStees are responsible for the other inforn]ation. The other inforn]atton comprises the inforniation included in the
Annual Report, other than the fjnancial statements and our Report of the Independent AuditOTS thereon.
Our opinion on the financial statements does not cover the other infonnation and. except to the extent otherwise
explicitly stated in our report, we do not express any fonn of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other infonnation and, in doing
so, consider whether the other infonnation is materially in¢onsistent with the financial statements OT our knowledge
obtained in the audit or otherwise appears to be materially misstated. Jf we identify such material inconsistenries or
apparent material misstatements, we are required to detennine whether this gives rise to a material misstatement in the
financial statements themselves. If, based on the work we have perfornied, we conclude that there is a material
misstatement of this other infonnatioo we ar¢ required to report that fact. We have nothing to report in this regard.
Matters on whieh we are requlred to report by exception
We have nothing to report in respect of the following matters where the CharitÉes (Accounts and Reports) Regulations
2008 requires us to report to you if, in our opinion..
the inforn￿tIon given in the Report of the Trustees is inconsistent in any material respect viith the financial
statements- or
sufficient accounting records have not been kept. or
the financial statements are not in agreement with the accounting records and retlwns. or
we have not ieceived 811 the inforn]ation and explanations we require for our audit.
Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
NICHOLAS CHAMBERLAINE'S HOSPITAL
AIYD SERMON CHAIUTY
Responsibilities of trustees
As explained rnore fully in the Ststement of Trustees, Responsibilitie5, the trustees are responsible for the prepardtion of
the fmancial statements which give a true and fair view, and for such internal control as the trustee5 deterniine is
necessary to enable the preparation of fmancial statements that are free from material misstatement, whether due to fraud
OT e￿Or.
In preparing the fmancial statements, the tTUStees are responsible for assessing the charity's ability to continue as a going
concern, disclosing, as applicable, matleTS related to going concern and using the Boing concern basis of accounting
unless the trustees either intend to liquidate the charity OT 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 201 l 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 financial statements as a whole are free from
material misstatement, whether due to fraud or eThor, and to issue a Report of the Independent Auditors that includes our
opinion. Reasonable assurdnce is a high level of assuran¢e, 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 e￿or
and are Considered material if, individually or in the aggr¢gate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these fjnancial statements.
The extent to which our procedures are ¢apable of detecting irregularities, including fraud is detsiled 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 financial statements from our sector experience and through discussion with the trustees and other
management. The most significant were identifi¢d 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 as 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 controls established to mitigate risks related to fraud OT non-¢ompliance with
laws and regulations.
assessing the design effectiveness of the controls in place to prevent and detsct fraud.
- assessing the risk of management override including identifying and testing journal entries.
- challenging the assumptions and judgements made by management in its significant accounting estimates.
Whilst our audit did not identify ally significant matteTS 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 statements may not be detected owing to inherent limitations of the audit. and that
by their very nature, any such instances of fraud or ittegularity would likely involve collusion, forgery, intentional
misrepresentations, or the ovenide of internal controls.
A fijrther description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website at www.frc.org.uklauditorsresponsibilities. This description fonns part of our Report of the
Independent Auditors.
Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
Use of our report
This report is made solely to the chariws tTUStees, 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 Tequired to state to them in an auditors, report and for no other purpose. To the fullest extent pemitted by
law, we do not accept or assume responsibility to anyone other than the charity and the charity's tNstees as a body. for
our audit worK for this report, or for the opinions we have fornied.
Arn]strongs Bishop Simmons
Chartered Accountants and sta￿tOry Auditors
Gethin House
36 Bond Street
Nuneaton
Warwickshire
CVII 4DA
18th June 2025
Page 9

NICHOLAS CHAMBERLAIIYE'S HOSPITAL
AND SERMON CHARITY
STATEMENT OF FINANCLIL ACTIVITIES
FOR THE YEAR ENDED 31ST DECEMBER 2024
2024
Total
fimds
2023
Totsl
fi]nds
Unrestri¢ted
funds
Restricted
funds
Endowment
fimd
Notes
INCOME AND
ELYDOIVMENTS FROM
Charitable activities
Letting of properties
Grant income
210,356
210,356
155,000
190,261
133.860
155,000
Investment income
34,407
34,407
31,482
Total
244,763
155.000
399,763
355,603
EXPENDITURE ON
Charitable activities
Letting of Properties
244,504
28,613
9,348
282,465
252,804
Net gains on investments
18,221
38,957
57,179
33,943
IYET INCOME
Transfers between funds
18,480
(173,587)
126,388
173,587
29,609
174,477
136,742
12
N¢t movement in funds
(155,107)
299,975
29.609
174.477
136,742
RECONCILIATIOIY OF
FUNDS
Total funds brought forward
597.880
637.613
751,678
1,987,171
1,850,429
TOTAL FUNDS CARRIED
FORWARD
442.773
937.588
781,287
2,161,648
1,987,171
The notes forn] part of these financial statements
Page 10

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
BALANCE SHEET
31ST DECEMBER 2024
2024
2023
Notes
FIXED ASSETS
Tangible assets
Investments
1,071,165
848,357
857,981
783,405
1,919,522
1,641,386
CURRENT ASSETS
Debtors
Investments
Cash at bank and in hand
68,149
44,467
10,577
320,138
202,105
270,254
375,182
CREDITORS
Amounts falling due within one year
io
(28,128)
{29,397)
NET CURRENT ASSETS
242.126
345,785
TOTAL ASSETS LESS CURRENT
LLIBILITIES
2,161,648
1,987,171
NET ASSETS
2,161.648
1,987,171
FUNDS
Unrestricted funds
Restricted funds
Endowment ￿ndS
12
442,773
937,588
781.287
597,880
637,613
751.678
TOTAL FUNDS
2,161,648
1,987,171
The financial statements were approved by the Board of Trustees and authori5ed for issue on 18th June 2025 and were
signed on its behalf by:
Mr M L Gutteridge - Trustee
The notes foTm part of these financial slatements
Pagell

IYICHOLAS CHAMBERLAINE'S HOSPITAL
AIYD SERMON CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The charity constitutes a public benefit entity as defmed by FRS 102. The financial statements have been
prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland issued in O¢tobeT 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 fmancial 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 in sterling which is the functional
currency of the charity and rounded to the nearest £.
Nicholas Chamberlaine's Hospital and Sennon 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 inforniation on page l of these financial statements. The nature of the charity's operations and principal
activities are the provision and maintenance of 28 affordable units of housing ai Alrnshouses. The principal
activities of the regist¢red Almshouses ar¢ not governed by the Landlord and Tenants Act 1985.
The significant accounting policies applied in the preparation of these fllwicial statements are set out below.
These policies have been consistently applied to all years presented unless otherwise stated.
Income
All incoming resources are included in the Ststement of Financial Activities when the charity is legally entitled to
the income after any perfornian¢e conditions have been met, the amount can be measured reliably and it is
pmbable that the income will be received. Income represents amounts invoiced by the cbarity in respect of
services pmvided.
Investment income is earned through holding assets for investment PUTposes such as shares. It includes dividends
and interest. It is included when the amount can be measured reliably. Interest income is recognised using tbe
effective interest method and dividend is recognised a% the charity's right to receive payment is established.
Expenditure
Liabilities are recognised as expenditure as soon a8 there is a legal or constructive obligation committing the
charity to that expenditUTe, it 15 probable that a transfer of economic benefits will be required in settlement and
the arnount of the obligation can be measured reliably. Expenditure is accounted for on an a¢¢ruals basis and has
been classified under headings that aggregate all cost related to the ¢ategory. Where costs cannot be diTectly
attribut¢d to particular headings they have been allocated to a¢tivitie5 on a basis consistent with the use of
resources.
Tangible fixed assets
Housing and other properties which comprise of the Alntshouses, the Nurses Horne and the Parsonage are stsied
at cost less accumulated depreciation. Freehold land is not depreciated. Depreciation is charged so as to write
down the cost of properties to their estimated residual value on a straight line basis over their expected useful
economic lives. Usefill economic lives have been estimated to be 50 years for the Almshouses, Nurse5 Home &
Parsonage and Chapel Street Cottages.
Taxation
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to
pass the tests set out in Pardgraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a
charity for UK income tax purposes.
The charity is not VAT registered and all figures in the fInancial statements are tberefore inclusive of applicable
VAT.
Page 12
continued...

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
NOTES TO THE FINANCIAL STATEMENTS - eontinued
FOR THE YEAR ENDED 31ST DECEMBER 2024
ACCOUNTING POLICIES - continued
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 pU￿oses.
Designated fimds comprise unrestricted funds that have been set aside by the Governors for particular purposes.
The Extraordinary Repair Fund is a designated fund and the aim and use of the fund is set oul 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 present, any
restricted funds.
Endovmlent fimds represent those assets which must be held pemianently by the charity. Income arising from the
endoThinent 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 forni part of the fijnd.
Pension costs and other post-r¢tirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charitgs pension
scherne are charged to the Statement of Financial Activities in the period to which they relate.
Soclal housing And other grants
Where developments have been financed wholly or partly by social housing grants and other capital grants, the
grant is to be treated as a restricted fund and depreciation charged against the fund over its expected useful
economic life.
Revenue grants are recognised when the Charity h35 entitlement to the fiLnds' any perforniance 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 defetted.
Going eoncern
The financial statements have been prepared on a going concern basis as the trustees believe that no material
uncertainties exist. The trustees have con5ideTed the level of funds held and expected level of in¢om¢ and
expenditure for twelve months from authorising these financial statements. The budgeted income and
expenditure is sufficient with the level of reserves for the charity to be able to continue as a going ¢oncern.
CRITICAL ACCOUNTIING JUDGEMENTS AIWID KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the Charitys accounting policies. which are described in note l. the governors are required
to rnake judgements, estimates and assumptions about the carrying value of assets and liabilities that are not
readily apparent from otheT sources. The estimates and underlying assumptions are based on historical
experience and other fa¢tOTS that are considered to be relevant. Actual results may differ from these estinMtes.
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 tbat 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 si￿1fiCallt effect on the amounts recognised in the fmancial
statements are described below:
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 cuttent
estimates, based on future investments, economic utilisation and the physical condition of the assets.
Page 13
continued...

NICHOLAS CHAMBERLAINE'S HosprrAL
AND SERMON CHARITY
NOTES TO THE FINANCIAL STATEMENTS - eontillued
FOR THE YEAR ENDED 31ST DECEMBER 2024
IIYVESTMENT INCOME
2024
2023
Dividends received
Interest receivable
20,354
14,053
22,512
8,970
34,407
31,482
TRUSTEES, REMUNERATION AND BENEFITS
Tbere were no tTh￿teeS, remuneration OT Other benefits for the year ended 3 1st December 2024 nor for the year
ended 3 1st December 2023.
Trustees, expenses
Trustee expenses reimbursed in the year amounted to £Nil (2023.. £187).
STAFF COSTS
2024
2023
Wages and salaries
Other pension costs
34,814
795
34,543
714
35,609
35,257
The key management personnel of the charity was the Clerk to tbe trustees and the Clwity was invoiced £26,400
for his services (2023.. £33,000).
The average monthly number of employees during the year was as follows..
2024
2023
stsff.. Management of properties
No employees received emoluments in exces5 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 2024
TANGIBLE FIXED ASSETS
Freehold
Property
COST
At 1st January 2024
Additions
1,454,047
247,209
At 31 st December 2024
1,701,256
DEPRECIA TION
At I st January 2024
Charge for year
596,066
34,025
At 3 1st December 2024
630,091
NET BOOK VALUE
At 31 st December 2024
1,071,165
At 3 1st December 2023
857,981
Chapel
Street
Cottages
Nurses Home &
Parsonage
A]mshouses
Totsl
Freehold properties breakdown
COST
At l January 2024
Additions in the year
168,443
247.209
1,054,586
231,018
1,454,047
247,209
At 31 December 2024
415,652
1,054,586
231,018
1,701,256
DEPRECIATION
At l January 2024
Charge for the year
480.484
21,092
115.582
4,620
596.066
34,025
8,313
At 31 December 2024
8,313
501,576
120,202
630,091
NET BOOK VALUE
At 31 December 2024
At 31 December 2023
407,339
168.443
553,010
574,102
110,816
115,436
1.071,165
857,981
Page 15
continued...

NICHOLAS CHAMBERLAINE'S HOSPITAL
AIYD SERMON CHARITY
NOTES TO THE FINANCIAL STATEMENTS- Contin￿ed
FOR THE YEAR ENDED 31 DECEMBER 2024
FIXED ASSET INVESTMENTS
Listed
investments
MARKET VALUE
At l January 2024
Additions
Disposals
Revaluation5
783,405
99.736
{92,208)
57,424
At 31 December 2024
848,357
NET BOOK VALUE
At 31 December 2024
848,357
At 31 December 2023
783.405
There were no investment assets outside the UK.
Listed
Investments £
Revaluations comprise
Net investment realised gains
Net investment unrealised gains
11,560
45,864
57,424
Investments at fair value comprise-
Securities
Cash within investment portfolio
848.357
(included within other debtors)
848,357
The fair value of listed investments l5 determined by refer¢n¢e to the portfolio report provided by Quilter
Cheviot. The price5 for quoted securities are the mid-market closing prices provided by the London Stock
Exchange.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Other debtor5
Balance with stockbrokers
Prepayments and accrued income
38,750
13,485
15.914
1.548
28,661
14,258
68.149
44,467
Page 16
continued.

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMON CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024
CURRENT ASSET INVESTMENTS
2024
2023
Listed investments
10,577
The fair value of the listed investments is detennined by reference to the quoted PTice for identical assets in an
active market at the balance sheet date.
io.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade creditors
Accrned expenses
14.928
13,200
14,938
14,459
28.128
29.397
ANALYSIS OF NET ASSETS BETWEEN FUNDS
2024
Total
funds
2023
Total
funds
Unrestricted
funds
Restricted
funds
Endowment
fund
Fixed assets
Investments
Current assets
CutTent liabilities
902,108
169,057
598,981
13,249
1.071.165
848,357
270,254
(28.128)
857,981
783,405
375,182
(29,397)
249,376
218,254
(24,857)
38,751
(3,271)
442.773
937.588
781,287
2,161,648
1,987,171
12.
MOVEMENT Th FUNDS
Net
movement
in funds
Transfers
between
funds
At
31.12.24
At 1.1.24
Unrestricted funds
General fund
1,000 Fund
Extraordinary Repair Fund
Chapel Street Cottages Fund
318.356
1,097
229,812
48,615
13
37
18,430
(124.972)
193,397
1,134
248,242
(48.615)
597,880
18,480
(173,587)
442,773
Restricted funds
Housing and Development Fund
637,613
126,388
173,587
937,588
Endowment funds
Capital Endowment Fund
751.678
29,609
781,287
TOTAL FUNDS
1,987,171
174.477
2,161.648
Page 17
continued...

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMOIY CHARITY
NOTES TO THE FINAIYCIAL STATEMENTS - eontinued
FOR THE YEAR ENDED 31ST DECEMBER 2024
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 fund
1,000 Fund
Extraordinary Repair Fund
244.763
(244,504)
(246)
37
18,430
13
37
18,430
244.763
(244,504)
18,221
18,480
Restrlcted funds
Housing and Development Fund
155,000
(28.613)
126,388
Endojvment funds
Capital Endowment Fund
(9,348)
38,957
29,609
TOTAL FUNDS
399,763
(282,465)
57,179
174.477
Comparatlves for movement in funds
Net
movement
in funds
At
31.12.23
At 1.1.23
Unrestricted funds
GeneTal 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 and Development Fund
533,267
104,346
637,613
Endowment funds
Capitsl Endowrnent Fund
738.226
13.452
751,678
TOTAL FUNDS
1.850,429
136,742
1,987,171
Page 18
continued...

ICHOLAS CHAMBERLAII¥4E'S HOSPITAL
AND SERMOIY CHARITY
NOTES TO THE FINANCIAL STATEMEIYTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024
12.
MOVEMENT IN FUNDS - continued
Comparative net movement in fijnds, included in the above are as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestrieted funds
General fund
1,000 Fund
Extraordinary Repair Fund
221,743
(214,143)
(2.108)
18
13,434
5,492
18
13,434
221,743
(214,143)
11,344
Restrieted funds
Housing and Development Fund
18,944
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
Unrestricted Funds
The extraordinary repair fund is a fimd designated by the governors of the charity to meet fijttwe extraordinary
repairs thmugh an annual transfer of no less than £520, detern]ined by the Trustees.
The 1.000 fund is for the benefit of poor persons or for such charitable pU￿oseS that the governors think fit
from time to time.
Restricted Funds
The Housing and Development fund includes a Social Housing Grant of £527,761 and other Capital Grants
totalling £434,647 r￿e1Ved to renovate the Almshouses. the nurses Home and the parsonage.
In 2023 development began on the fonner public conveniences into two ground floor flats now known as Chapel
Street cottages. the project has been fimded by grants fron] Nicholas Chamberlaine s School Foundatio
totalling £168,860. a grdnt of £155,000 in the Cu￿ent year from Homes England and the remaindeT from general
reserves.
Depreciation is being Charged against the fund each year on a straight line basis. over the expected usefijl
economic lives of all of the properties which has been estimated to be 50 years.
The capitsl endowment fund Tepresents the value of assets held either as PToperty or investments for the long
terni beDefit of the Charity.
Page 19
continued...

NICHOLAS CHAMBERLAINE'S HOSPITAL
AND SERMOIY CHAIUTY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024
13.
RELATED PARTY DISCLOSURES
The Nicholas Chamberlaine 's School Foundation Charity, which has comn]on lrnstees, provided a grant during
the year which has been designated by the Governors to be spent on the Chapel Street Cottages project. Totsl
grants received during the year totalled £Nil for this year (2023..£133,860).
14.
PENSIONS
Defined Contribution Pension Plan
The charity operates a defmed contribution pension plan for its employees. The amount recognised as an expense
in the period was £795 (2023.. £714).
15.
ACCOMODATION IN MANAGEMENT
2024
No.
2023
Almshouse acconunodation units - housing for older persons
30
28
30
28
16.
AUDITORS REMUNERATION
The auditor's remuneration amounts to an audit fee of £3,150 (2023 £3,000) and accountancy fee of £3.150
(2023 £3,000).
Page 20