**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