2022-06-30-accounts

REGISTERED CHARITY NUMBER: 217605

RAVENSTONE HOSPITAL ALMSHOUSE CHARITY

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

RAVENSTONE HOSPITAL ALMSHOUSE CHARITY CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

----- Start of picture text -----
Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 13
Detailed Statement of Financial Activities 14 to 15
----- End of picture text -----

RAVENSTONE HOSPITAL ALMSHOUSE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022

The trustees present their report with the financial statements of the charity for the year ended 30 June 2022. The trustees 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 of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

The purpose of the Charity is to provide accommodation for women in need with preference given to persons resident or connected with the local villages. In addition the Trustees seek to ensure that the historic property of the Charity including its Chapel is maintained and used as an asset to Ravenstone Village and community.

Copies of the Summary Guidance on Public Benefit issued by the Charity Commission have been supplied to all Trustees who undertake regular reviews at meetings.

The costs of the Charity are met from the weekly occupation charges paid by the Residents and investment income. The Charity does not undertake external fund raising or make grants.

ACHIEVEMENT AND PERFORMANCE

During the year under review the Trustees continued to provide 25 almshouse flats for qualifying residents supervised by a resident Warden. The almshouses were fully occupied at the beginning of the year. Two flat was vacant in June 2022 and awaited small repairs.

The maintenance of the almshouses and their facilities is funded by a weekly occupation charge paid by the residents together with income from investments belonging to the Charity. Throughout the year the Trustees continued to manage the funds for the benefit of the Charity.

In the past repairs have been identified and completed as required. In order to improve future management a first Quinquennial inspection has been completed during the autumn of 2022. This will provide the necessary programme for future works. Following a Review of Governance by consultants in 2020 a formal Health & Safety Policy has been adopted and other policies are in preparation. Further enquiries in relation to Grants and Funding for future projects will be pursued once these are in place.

The Trustees will continue to fulfil the obligations of the Charity in the provision of almshouse accommodation. Refurbishment and improvement of the flats is undertaken as they fall vacant to improve their attraction to new occupiers. A programme of other minor repairs and renewals is maintained to be undertaken as funds permit. This includes programmes of secondary glazing and Fire Safety improvements throughout the almshouses.

Charges to residents are due for review in 2023 and are considered regularly to ensure that they cover the day to day running expenses of the property including the employment of a resident Warden.

FINANCIAL REVIEW

Reserves policy

The Charity retains adequate reserves to support the day-to-day running of the almshouses and any unforeseen emergency expenditure. Further major external repairs will only be undertaken when adequate funding has been confirmed.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a Charity Commission scheme dated 13 November 2001, and constitutes an unincorporated charity.

Recruitment and appointment of new trustees

The charity has ten elected co-opted trustees together with two nominated trustees appointed by North West Leicestershire District Council. There were two vacancies for co-opted Trustees at 30th June 2022. Appropriate candidates are being sought.

Page 1

RAVENSTONE HOSPITAL ALMSHOUSE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 217605

Principal address

34 High Street Repton Derby Derbyshire DE65 6GD

Trustees

Mr J Paine Mr I W Hewson Mrs C M Screaton Cllr N Smith Mr P N Tudor-Jones Mrs J Wade (resigned 1.11.21) Cllr V Richichi R Riley Mr G M Braithwaite (appointed 17.11.21) Dr R A Davies (appointed 17.11.21) (resigned 27.4.22) Mr R White (appointed 21.11.21) (resigned 24.2.22) Mr N J Eastwood (appointed 13.7.22) Mrs A Wood (appointed 23.7.22)

Independent Examiner

G S Gilbert FCA CAMERON HUGHES LTD Chartered Accountants 16 Jubilee Parkway Jubilee Business Park Derby Derbyshire DE21 4BJ

Approved by order of the board of trustees on 16 November 2022 and signed on its behalf by:

Mr J Paine - Trustee

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RAVENSTONE HOSPITAL ALMSHOUSE CHARITY

Independent examiner's report to the trustees of Ravenstone Hospital Almshouse Charity

I report to the charity trustees on my examination of the accounts of Ravenstone Hospital Almshouse Charity (the Trust) for the year ended 30 June 2022.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view 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 to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

G S Gilbert FCA CAMERON HUGHES LTD Chartered Accountants

16 November 2022

Page 3

RAVENSTONE HOSPITAL ALMSHOUSE CHARITY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2022

Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 10 Charitable activities Rents receivable, including heating 92,745 Investment income 2 6,155 Other income 40 Total 98,950 EXPENDITURE ON Charitable activities Rents receivable, including heating 102,439 Other 2,360 Total 104,799 Net gains/(losses) on investments (4,405) NET INCOME/(EXPENDITURE) (10,254) RECONCILIATION OF FUNDS Total funds brought forward 655,840 TOTAL FUNDS CARRIED FORWARD 645,586	Restricted Endowment funds fund £ £ - - - - - 11 - - - 11 12,299 - - - 12,299 - 2,087 (7) (10,212) 4 11,456 315 1,244 319	2022 Total funds £ 10 92,745 6,166 40 98,961 114,738 2,360 117,098 (2,325) (20,462) 667,611 647,149	2021 Total funds £ 125 90,763 6,434 7 97,329 89,955 - 89,955 18,262 25,636 641,975 667,611

The notes form part of these financial statements

Page 4

RAVENSTONE HOSPITAL ALMSHOUSE CHARITY

BALANCE SHEET 30 JUNE 2022

Notes FIXED ASSETS Tangible assets 6 Investments 7 CURRENT ASSETS Debtors 8 Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted funds: General fund Cyclical repair fund Restricted funds: Extraordinary repair fund Endowment funds: Lady Jessie Turner Bequest TOTAL FUNDS	2022 £ 400,000 185,305 585,305 1,676 101,149 102,825 (40,981) 61,844 647,149 647,149 582,532 63,054 645,586 1,244 319 647,149	2021 £ 400,000 185,756 585,756 1,535 91,957 93,492 (11,637) 81,855 667,611 667,611 592,788 63,052 655,840 11,456 315 667,611

The financial statements were approved by the Board of Trustees and authorised for issue on 16 November 2022 and were signed on its behalf by:

Mr J Paine - Trustee

The notes form part of these financial statements

Page 5

RAVENSTONE HOSPITAL ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing 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.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. INVESTMENT INCOME

Income from investments Deposit account interest	2022 £ 5,983 183 6,166	2021 £ 6,310 124 6,434

Page 6

continued...

RAVENSTONE HOSPITAL ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2022 nor for the year ended 30 June 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2022 nor for the year ended 30 June 2021.

4. STAFF COSTS

The average monthly number of employees during the year was as follows:

5.

Warden No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 125 - Charitable activities Rents receivable, including heating 90,763 - Investment income 6,421 1 Other income 7 - Total 97,316 1 EXPENDITURE ON Charitable activities Rents receivable, including heating 86,772 3,183 Net gains on investments 15,587 2,639 NET INCOME/(EXPENDITURE) 26,131 (543) Transfers between funds (1,875) 1,875 Net movement in funds 24,256 1,332 RECONCILIATION OF FUNDS Total funds brought forward 631,584 10,124 TOTAL FUNDS CARRIED FORWARD 655,840 11,456	2022 1 Endowment fund £ - - 12 - 12 - 36 48 - 48 267 315	2021 1 Total funds £ 125 90,763 6,434 7 97,329 89,955 18,262 25,636 - 25,636 641,975 667,611

Page 7

continued...

RAVENSTONE HOSPITAL ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022

6. TANGIBLE FIXED ASSETS

----- Start of picture text -----
||| |---|---| |Freehold| |property| |£| |COST| |At 1 July 2021 and 30 June 2022|400,000| |NET BOOK VALUE| |At 30 June 2022|400,000| |At 30 June 2021|400,000|

----- End of picture text -----

The land and buildings relate to The Almshouses at Ravenstone. The property was revalued on 30 June 1999 by A R Argyle FRICS, on an open market basis. The trustees have considered the above valuation of the property but in view of the specialised nature of the land and buildings felt that no benefit would be gained by having another formal valuation.

7. FIXED ASSET INVESTMENTS

----- Start of picture text -----
||| |---|---| |Listed| |investments| |£| |MARKET VALUE| |At 1 July 2021|185,755| |Additions|1,875| |Revaluations|(2,325)| |At 30 June 2022|185,305| |NET BOOK VALUE| |At 30 June 2022|185,305| |At 30 June 2021|185,755|

----- End of picture text -----

There were no investment assets outside the UK.

Cost or valuation at 30 June 2022 is represented by:

----- Start of picture text -----
||| |---|---| |Listed| |investments| |£| |Valuation in 2022|185,305|

----- End of picture text -----

Investments are valued at market value as at the year end.

Page 8

continued...

RAVENSTONE HOSPITAL ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022

----- Start of picture text -----
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Prepayments 1,676 1,535
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Bank loans and overdrafts (see note 10) 29,356 6,362
Trade creditors 6,352 112
Other creditors 5,273 5,163
40,981 11,637
10. LOANS
An analysis of the maturity of loans is given below:
2022 2021
£ £
Amounts falling due within one year on demand:
Bank overdrafts 29,356 6,362
11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2022 2021
Unrestricted Restricted Endowment Total Total
funds funds fund funds funds
£ £ £ £ £
Fixed assets 400,000 - - 400,000 400,000
Investments 163,240 21,780 285 185,305 185,756
Current assets 102,791 - 34 102,825 93,492
Current liabilities (20,445) (20,536) - (40,981) (11,637)
645,586 1,244 319 647,149 667,611
----- End of picture text -----

Page 9

continued...

RAVENSTONE HOSPITAL ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022

12. MOVEMENT IN FUNDS

At 1/7/21 £ Unrestricted funds General fund 592,788 Cyclical repair fund 63,052 655,840 Restricted funds Extraordinary repair fund 11,456 Endowment funds Lady Jessie Turner Bequest 315 TOTAL FUNDS 667,611 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 98,948 (104,799) Cyclical repair fund 2 - 98,950 (104,799) Restricted funds Extraordinary repair fund - (12,299) Endowment funds Lady Jessie Turner Bequest 11 - TOTAL FUNDS 98,961 (117,098)

Net movement At in funds 30/6/22 £ £ (10,256) 582,532 2 63,054 (10,254) 645,586 (10,212) 1,244 4 319 (20,462) 647,149 Gains and Movement losses in funds £ £ (4,405) (10,256) - 2 (4,405) (10,254) 2,087 (10,212) (7) 4 (2,325) (20,462)

Page 10

continued...

RAVENSTONE HOSPITAL ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net movement At 1/7/20 in funds £ £ Unrestricted funds General fund 568,538 26,125 Cyclical repair fund 63,046 6 631,584 26,131 Restricted funds Extraordinary repair fund 10,124 (543) Endowment funds Lady Jessie Turner Bequest 267 48 TOTAL FUNDS 641,975 25,636 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 97,310 (86,772) Cyclical repair fund 6 - 97,316 (86,772) Restricted funds Extraordinary repair fund 1 (3,183) Endowment funds Lady Jessie Turner Bequest 12 - TOTAL FUNDS 97,329 (89,955)

Transfers between At funds 30/6/21 £ £ (1,875) 592,788 - 63,052 (1,875) 655,840 1,875 11,456 - 315 - 667,611 Gains and Movement losses in funds £ £ 15,587 26,125 - 6 15,587 26,131 2,639 (543) 36 48 18,262 25,636

Page 11

continued...

RAVENSTONE HOSPITAL ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022

12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund Cyclical repair fund Restricted funds Extraordinary repair fund Endowment funds Lady Jessie Turner Bequest TOTAL FUNDS	At 1/7/20 £ 568,538 63,046 631,584 10,124 267 641,975	Net movement in funds £ 15,869 8 15,877 (10,755) 52 5,174	Transfers between funds £ (1,875) - (1,875) 1,875 - -	At 30/6/22 £ 582,532 63,054 645,586 1,244 319 647,149

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds General fund Cyclical repair fund Restricted funds Extraordinary repair fund Endowment funds Lady Jessie Turner Bequest TOTAL FUNDS	Incoming resources £ 196,258 8 196,266 1 23 196,290	Resources expended £ (191,571) - (191,571) (15,482) - (207,053)	Gains and Movement losses in funds £ £ 11,182 15,869 - 8 11,182 15,877 4,726 (10,755) 29 52 15,937 5,174

Restricted funds -

Extraordinary repair fund - these funds are allocated to meet the cost of exceptional items of maintenance of the Charity's property.

Page 12

continued...

RAVENSTONE HOSPITAL ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2022

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 June 2022.

Page 13

RAVENSTONE HOSPITAL ALMSHOUSE CHARITY DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2022

INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Income from investments Deposit account interest Charitable activities Rents receivable, including heating Other income Sale of books Total incoming resources EXPENDITURE Charitable activities Wages and salaries Rates Insurance Electricity Telephone Miscellaneous expenses Repairs and maintenance Alarm system Fuel oil Support costs Finance Bank charges Governance costs Accountancy Independent examiner's charges Clerk's salary and expenses Total resources expended Net (expenditure)/income before gains and losses	2022 £ 10 5,983 183 6,166 92,745 40 98,961 16,047 8,835 3,063 2,292 4,261 634 35,475 944 37,030 108,581 92 1,134 1,134 6,157 8,425 117,098 (18,137)	2021 £ 125 6,310 124 6,434 90,763 7 97,329 15,254 7,020 2,996 2,273 4,053 363 13,423 2,123 34,264 81,769 - 1,080 1,080 6,026 8,186 89,955 7,374

This page does not form part of the statutory financial statements

Page 14

RAVENSTONE HOSPITAL ALMSHOUSE CHARITY DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2022

Realised recognised gains and losses Unrealised gains/losses on fix ed assets investments Net (expenditure)/income	2022 £ (2,325) (20,462)	2021 £ 18,262 25,636

This page does not form part of the statutory financial statements

Page 15