REGISTERED CHARifY NUMBER: 217605 RAVENSTONE HOSPITAL ALMSHOUSE CHARITY REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 RAVENSTONE140SPITAL ALMSHOUSE CHARITY CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Page Report of the Tru%tees 1 to 2 Independent Exaininerfs Report Statement of Financial Activltles Balance Sheet Notss to the Flnaiiclal Statements 6 10 13 Detailed Statemeiit of Financial Activities 14 10 15 RAVENSTONE140sprrAL ALMSHOUSE CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 The ttustees prese,nl their report wth the financial statements of the charity for the year ended 30 June 2024. The Iruslees have adcpled the provisions of Accounb"ng and Reporb"ng by Charities.. Statement of Recommended practi￿ applicablL lo charities preparing their accounts in accordance with the Financial Repo￿ng Standard applicable in the U< and Republic of Ireland IFRS 102} leff8¢tiv8 l January 20191. OBJECTIVES ANI) ACTIVITIES The purpose of Ik,e Charity is to provide accommodation for women in need with preference given lo persons resident or connected with the local villages. In addition the Trustees seek lo ei)sure that the historic property of the Charity includirig its Chapel is maintained and used as an asset lo Ravenslone Village and community. Copies of the Sunimary Guidance on Public Benefrt issued by the Charity Commission have been supplied lo all Trustees who undf.,rtake regular reviews at meetings. The costs of the ￿haritY are met from the weekly occupation charges paid by the Residen￿ and investment income. At presenl th8 Charity does not undertake external fund raising and il does not make grants. ACHIEVEMENT AND PERFORMANCE During the year linder review the Tfustees continued to provide bNenty-five almshouse flats for qualifying -d by a resident Warden. The almshouses were fully occupied at the beginning of the year. residents supervis" One flat was vacaril in June 2024 but has Sin￿ been reoccupied. The Maintenan￿ 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- Tliroughoul the year the Trustees continued to mana Je the funds for the benefit of the Charity. In the past repairs have been identified and completed as required. A full Quinquennial inspection was undertaken in 202 ? and now foms a basis for a future programme which is in course of preparation. Following Review of Govern¢ince by consultsnts in 2020 fomial Health & Safety Policy and Safeguarding policies have been adopted. Further f'nquiries in relation to Grants and Funding for future projects are now in conlemplalion. The Trustees will continue lo fulfil the obligations of the Charity in the provisiori of almshouse accommodation. where ne￿$sary -efurbishment and improvement of the flats is undertaken as they fall vacant to improve their attraction lo new ()ccupiers. Fire safety improvements were carried out during Ihe course of the year and other works lo meet mo¢&rn energy requirements will be carried out as funds permit. Charges lo reside ils were revised in 2024 and wll now be reviewed annually in the fvlure to ensure Ihat they cover the day-l04cly running expenses of the property including the gmploymenl of a resident Warden. FINANCIAL REVII_dW Reserves policy The Charity retain... adequate reserves to support the day-to-day running of the almshouses and any unforeseen emergency expeniliture. Further major external repairs will only be undertaken when adeqLJale funding has been confirmed. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing docunient The charity is controlled by its goveming document. a Charty Comm15sion sclieme dated 13 November 2001. and constitutes an unincorporated charity. Page 1 RAVENSTONE140sprrAL ALMSHOUSE CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees The charity has Illn elected co-opted trustees logethor with two nominated trustees appointed by North West Leicestershire Dis1ricl Council. There were iwo vacancies for co-opted Trustees at 30th June 2024. Appropriate candidates are beii)g sought. REFERENCE ANI) ADMINISTRATIVE DETAILS Registered Charlly number 217605 Principal address 34 High Street Repton Derby Derbyshire DE65 6GD Trustees Mr J Paine Mr I W Hewson (resigned 30.11.231 C M Screalon Cllr N Smith Mr P N Tudor-JonÉ'.s Mrs R Riley Mr G M Br8llhwaitE.' Mr N J Easlwood Mrs A Wood Mr E G C Allman Cllr J Page D Bates lappointe(122.11.231 Mr S Cure lappoin'ed 22.11.231 Independent Exaininer G S Gilbert FCA CAMERON HUGHES LTD Chartered Ac¢ounlants 16 Jubilee Parkwa i Jubilee Business Park Derby Derbyshire DE21 48J Approved by orde¥ of the board of Iruslees on ...... ... and signed on ils behalf by: Mr G M BrailhwailE:_ Trustee Page 2 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RAVENSTONE140SPITAL ALMSHOUSE CHARITY Independent exarninerfs report to the trustses of Ravenstone Hospital Almshouse Charty I report to the chaiily Iruslees on my examinab.on of the accounts of Ravenstone Hospitsl Mmshouse Charity Ilhe Trust) for the year.anded 30 June 2024. Responsibilities cind basis of report As the charity Irus1ees of the Trust you are responsible for the preparab.on of the accounts in accordance with the requirements of thi: Charities Act 20111'the Act'l- I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in Carrying out rny examination I have followed all applicable Directions given by the Charity Commission under Section 14515llbl (If the Act. Indapondent axarninor's $tatsm8nt I have completed my examination. I confirm that no material matters have come to my attention in connection with the examinali(In giving me cause lo believe that in any rnaterial respect= accounting records were not kept in respect of the Trust as required by Section 130 of the Act,. or the accounts do not accord with those records; or the accoun1s do not comply with the applicable requirements ￿ncernIng the fomi and (x)nlent of accounts set out in Ihe Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts gI￿e a true and fair view which is not a matter considered as part of an independent examination. I have no con￿m:; and have come a(foss no other matters in connectson with Ilie examination to which attention should be drawn ir this report in order to enable a proper understanding of the accounts to be reached. G S Gilbert FCA CAMERON HUGHES LTD Chartered Accountants Dale.. Page 3 RAVENSTONE140SPITAL ALMSHOUSE CHARITY STATEMENT OI= FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Endowment fund Notes INCOME AND ENDOWMENTS FROM Charitable activitigs Rents receivable, i'.Iduding healing 100,486 100,486 97,105 Investment incomt Other income 9.245 10 9,245 10 7,252 18 Total 109,741 109.741 104,375 EXPENDITURE ON Raising funds 12 12 Charitable activities Rents receivab￿, i i¢luding heating 93,610 93.610 102,368 Other 2.462 Total 93.622 93.622 104,830 Net gainslllosses} )n investments 10.948 2.619 19 13,586 {1.8201 NET INCOMEIIEXPENI)ITUREI Transfers between funds 27,067 11,8751 2,619 1,875 19 29,705 12.2751 12 Net movement in funds 25.192 4,494 19 29,705 {2.275} RECONCIUATION OF FUNDS Total funds brought fO￿ard 644,587 287 644,874 647,149 TOTAL FUNDS CARRIED FORWARD 669,779 4,494 306 674,579 644.874 The notes form part of these financial statements Page 4 RAVENSTONE HOSPITAL ALMSHOUSE CHARITY BALANCE SHEET 30 JUNE 2024 2024 2023 Notes FIXED ASSETS Tangible assets Investments 400,0(x) 199,884 400,000 185,361 599,884 585,361 CURRENT ASSEI'S Debtor8 Cash at bank 26,507 75,826 25,319 61,062 102,333 86,381 CRED￿oRs Amounts falling du• within one year 121,7121 {20,3791 CURRENT ASSETS 80,621 66.002 TOTAL ASSETS I.ESS CURRENT LIABILITIES 680,505 651,363 ACCRUALS AND DEFERRED INCOME 10 15,9261 16.489) NET ASSETS 674.579 644.874 FUNDS Unrestricted funds. General fund Cydical repair furid 12 633,544 36,235 610,017 34,570 669,779 644,587 Reslricled funds.. Extraordinsry fftpair fund Endowment funds.. Lady Jessie Turner Bequest 4,494 306 287 TOTAL FUNDS 674,579 644,874 The financial stalements were approved by the Boa￿ of Trustees and aulhorised for issue . and were signed on ils behalf by= IJL on Mr G M Braithwaiti:. Trustee The notes form part of these financial statements Page 5 RAVENSTONE140SPITAL ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ACCOUNTING POLICIES Basls of pieparlng the flnanclal statements The financial slalements of the charity, which is a public benefit entity under FRS 102. have been prepared iri accordance with the Charities SORP IFRS 1021 'Accounling and Reporting by Charities: Slalement )f Recommended Practice appllcable lo charities preparing Ilieir accounts in accordance with the FINan￿al Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) {effeclive 1 January 20191,, Financial Reporting Standard 102 The Flnancial Repottng Standard applicable in the UK and Repub.ic of Ireland, and the Charities Act 2011. The financial slalements have been prepared under the historic'al cost convention. with the exceptSon of investments which are included al market value, as modified by the revaluation of certain assets. Income l income is recognlsed In the Slalemenl of Financial Activities once the charity has entillerf>ent to the funds. it is Iirobable that the income will be received and the amount can be measured reliabty. Expenditui'e Liabilities ao ￿COgniSed as expenditure as soon as there is a legal or constructive obligation committing the charity lo that expenditure, il is probable that a transfer of economic benefits will be required in settlement 3nd the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals br)sis and has been classified under headings that aggregate all cost relaled lo the category. Where cosis cannot be directly attributed lo particular headings they have been allocated lo activities on a basis consi.'>lenl with the use of resourc8S. Taxatlon The charity is exempl from tsx on its charitable aclivilies. Fund accounting Unreslriclerl funds can be used in accordance with the charitable objectives at the discretion of the Iruslees. Restricted lunds can only be used for particular restricted purposes within the objects of the charity. Reslri¢tion¢ arise when specified by the donor or when funds are raised for particular reslricled purposes. Further e¥ilanalion of the nature and purpose of each fund is included in the notes lo the financial slalements. INVESTMENT INCOME 2024 2023 Income frori investments Deposit account interest 7,146 2,099 6,320 932 9.245 7.252 Page 6 Continued... RAVENSTONE140SPITAL ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 JUNE 2024 TRUSTEES. REMUNERATION AND BENEFITS There were no trnslees, remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 Jijne 2023. Trustees. expenses There weri., no trustees, expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 20'.)3. STAFF COSTS The average monthly number of employees during the year was as follows 2024 2023 Warden No employties received emoluments in excess of £60,000. COMPARA TIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslricled Restricted fLJnds funds Endowment fund Total funds INCOMEAND ENDOVIMENTS FROM Charltable actlvltles Rents recei iable. including healing 97.105 97,105 Investment income Other inwnie 7,252 18 7.252 Total 104,375 104.375 EXPENDITURE ON Charitable activities Rents re￿liable. including healing 102.368 102,368 Other 2,462 2,462 Total 104,830 104,830 Net gainsllljssesl on investments 1,454 13,2761 11,8201 NET INCOIIEIIEXPENDITUREI 999 11,9981 13,2761 2,032 {2,275} Transfers l)ètw8èn funds 1341 Net movenient in funds 19991 11,2441 1321 12,2751 Pa9e 7 ontinued... RAVENSTONE140SPITAL ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024 COMPARA TIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - contlnued Unrestricted Reslricled Endowment funds funds fund Total funds RECONCILIATION OF FUNDS Totsl funds brought forward 645,586 1,244 319 647,149 TOTAL FUNDS CARRIED FORWARD 644,587 287 644,874 TANGIBLE FIXED ASSETS Freehold propety COST At 1 July 2C23 and 30 June 2024 400,000 NET BOOK VALUE AI 30 June 2024 400,000 AI 30 June 2023 400,000 The land aiid buildings relate lo The Almshouses at Ravenslone. The propety was revalued on 30 June 1999 by A l Argyle FRICS, on an open market basis. The trustees have considered the above valuation of the propi.Jrty bul in view of the specialised nature of the land and buildings felt that no benefit would be gained by having another fornial valuatK)n. FIXED ASSET INVESTMENTS Listed investments MARK￿ VALUE At 1 July 2C23 Additions Revalualioris 185.361 937 13,586 At 30 June 2024 199.884 NET BOOK VALUE AI 30 June 2024 199,884 At 30 June 2023 185,361 There were no investment assets outside the UK. Page 8 continued... RAVENSTONE HOSPITAL ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024 FIXED AS*ET INVESTMENTS - continued Cost or v81118tion al 30 June 2024 is represented by.. Listed investments Valuation ir 2024 199.884 Investmentr. are valued at market value as al the year 8nd. DEBTORS., AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Amount duf,. from restricted fund Prepayments 21,316 5,191 20,379 4,940 26,507 25,319 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade credi:ors Amounts diie to unreslricled funds 396 21,316 20,379 21,712 20.379 10. ACCRUALS AND DEFERRED INCOME 2024 2023 Accruals ard deferred in¢ome 5,926 6,489 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Totsl funds 2023 Total funds Unrestricted funijs Reslricl8d funds Endowment fund Fixed assets Investment,.. Current assets Current liabilities Accruals ard deferred income 400.000 173,768 102,333 13961 400,000 199,884 102,333 121,7121 400,000 185,361 86,381 120,379} 25,810 306 121,3161 {5,9261 15,9261 16.4891 669,779 4,494 306 674,579 644,874 Page 9 ¢onlinued... RAVENSTONE140SPITAL ALMSHOUSE CHARI NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 JUNE 2024 12. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 30.6.24 Al 1.7.23 Unrestricttrd funds General furd Cyclical repair fund 609,017 35,570 26,402 665 {1,8751 633,544 36.235 644,587 27.067 {1,8751 669.779 Restrfcted funds Exlfftordinary ￿pair fund 2,619 1,875 4,494 Endowmerlt funds Lady JessiE, Turner Bequest 287 19 306 TOTAL FUNDS 644.874 29,705 674,579 Nel movement in funds, included in the above are as follows- Incoming resources Resources expendod Gains and losses Movement in funds Unrestri¢ts.d funds General furd Cyclical repair fund 109.076 665 193,6221 10,948 26,402 665 109,741 193,6221 10,948 27,067 Restricted funds Extraordinary repair fund 2,619 2,619 Endowmeiit funds Lady JessiÉ. Tumer Bequest 19 19 TOTAL FUNDS 109,741 193,6221 13,586 29,705 Pago 10 continued... RAVENSTONE140SPITAL ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS . continued FOR THE YEAR ENDED 30 JUNE 2024 12. MOVEMENT IN FUNDS - contlnugd Comparatl'ies for movemenl in funds Nel movement in funds Transfers between funds At 30.6.23 Al 1.7.22 Unrestricted funds General furd Cyclical repair fund 582,532 63,054 664 335 26,821 {28,819) 610,017 34.570 645,586 999 11,9981 644.587 Restricted funds Extraordinary repair fund 1,244 {3.2761 2,032 Endowmeiit fund$ Lady Jessie. Tumer Bequest 319 134) 287 TOTAL FUNDS 647,149 {2.2751 644,874 Comparative net movement in ftjnds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestrictfrd funds General furd Cyclical repair fund 104.040 335 1104,830) 1,454 335 104.375 {104,8301 1,454 999 Restricted funds Extraordinary fftpair fund 13,2761 {3,2761 Endowmerit funds Lady Jessif, Turner Bequest TOTAL FUNDS 104.375 {104,8301 11,8201 (2,2751 Page 11 conlinued..- RAVENSTONE HOSPITAL ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 JUNE 2024 12. MOVEMENT IN FUNDS - contlnuad A current yijar 12 months and prior year 12 months combined position is as follows.. Net movement in funds Transfers between fvjnds Al 30.6.24 At 1.7.22 Unrestricted funds General furd Cyclical repair fund 582,532 63,054 27.066 1,000 24,946 {28,819) 634,544 35.235 645,586 28,066 13,873) 669,779 Restricted funds Extraordinary repair fund 1.244 {6571 3,907 4,494 Endowmeiit funds Lady Jessie Tumer Bequest 319 21 {34) 306 TOTAL FUNDS 647,149 27,430 674,579 A current )ear 12 months and prior year 12 months comblned net movement in funds. included in the above are