SIR EDMUND TtrnNOR'S HOSPITAL Reglstered ChArity Number: 218766 Accounts for the year ended 31° DeceDJber 2023 Saul Fairholm Limited Chartered Accoulltants 12 Tentercroft Street Lineijln U%S 7DB
SIR ED TUIi)OR'S HOSPITA Accounts for the ear euded 31° December 2023 COIITEYTS TnLStees Rcport tndepend¢nt Examinets. Rwrt StatthLt of Financial Activitics Balance Sheei 7-12. Notes to the Accowits
SIR EDMLtND TL.ILNOR'S IIOSPITAL Trustees Re rt for the ear ended 31Wt December 2023 OBJECTIVES ACTIV[Es The Charity is registered with the Charities Commission to provide accomtn(Mlation for the elderly. The spccific objects of the Charity arc to provide attd admiiuster almshous¢ a¢¢ommodation in Wragby. Th¢ Charily is not rcstrictive in detern)ining the critcria for entitlement to almshouse accommodatiotL A group of 10 thshouses ccu(Trlly located in Wragby constitut¢5 the freehold propety. The day to day adminisrratioll 18 undthaken by Robcrt Bcll & Compally, ClwLered Surveyors, who rqxyrt to the Trnstecs. Tk TTU5tees have had regard to Charity ColSsion guidance on public benefit. Th¢ Trustees bave complied with the duty in sectiotE 17(5) of the 2011 Charities Act, 8s 8m¢nded by the Charities Act 2022. to have ¢Jue regard to guidan¢e publTrshed by the Charity Comn]ission. AClItEVEMENTS AND PERFORTrL4NCE The Trustees are satisfied with the IrfOrManCe and achievemertt octhe Charity in th¢ y¢ar. FINLNCIAL REVIEW Ejuring tIL¢ year the Ci]arity had total in¢omitig resou of £37029 (2022 . £33299) of which £34703 (2022 £32418) aros¢ frotn maintenance contributions. Total exrKnditure was £43297 (2022 .. £48498) of which £?5151 (2022 . £35329) related to mainienance of builditsgs. The deficit aTising on Incoltig and oulgoing resour¢¢s. together with thc gain on investment assets held of £11855 (2022 . gain £1116) brought about an overa]I net SUTplus in th¢ year of £5587 (2022 . deficit £14083). The Charity maintains financia] managemcnt w>licies designed to clirninate &g far as possible financial risk lo the Charity. This involves tnainiaiJing contingencies for future cyclical rcpair5 requirements aud insurints against iDsurabl¢ losses. The TnJsM b¢licve the range of investments provid¢s a overall protectioll of ¢haTitable &ets but they do regularly review thc policies ill this area to reduce thc fiianci21 risk. The investment selection is based on achieving t4sy acc¢ss to the c&sh funds and therefore a low r&1¢ of intsrest is acc¢ptcd. Durit)g 2023 fourrneetings of trustKs wer¢ hel Th¢ restiicted funds repre5¢nts th¢ hiSric grant rcc¢ivcd with the freehold land and buitditigs. The Designated Fund r¢psenL5 a reserve for future major repair expenditure to housing pTopertics. STRUCTURE, GOvERNYCE AhT) MlAGEME1}T The Turnor Trust waa established by Sir Edtnund Turnor's wtll of 1708 and is regulated by a S¢alcd Scheme of the Charity Commi&sionets dated 1989 as a Rcgts[Cd Charity No. 218766. Its address is Glo Robert Bell & Company, Old Bank Chamber5. Hornc8st]e, Lincolnshire, LN9 SHY. The Board of TrustcEs arc appointcd by bcing ex4)tTJcio, or being nomitiatcd by tbe Bishop of Lillcoln or bcing co-opted. Appropriale induction and training is provided. Th¢ Annual General Meetillg at wbirh the Chaimian for thc ensuing year is elected 18 bcld iti hlarch. Meetings held as requir¢d and appropriate in the year.
stR EDTrtUF4D TLILNOR'S HOSPITAL Trnstees Re rt for the vear ended 31" DeCeber 2023 TRUSTEE'S RESPONSIBILITIES The trnstees are reswnsible for preparing the Trnstees, Arjnual Report and thc fjnallcial stat¢ment6 in accordance with applicable law and United Kingdom Accounttng Stand8rds (Unittd Kingdom GenerAlly Accepted Accounting PrdCtic¢)- The law applicable to charities in England and Wales requir&% thc trustccs to preparc fLnancial statements for Cach fitwicial y¢ar which give a and fair view uf the stale of affalrs of the ChBritsble TrusT and of th¢ illco]ning r¢50urces and application of resources of tbe Clwitable Trust for that period. In preparlng these finallcial Stateents, the trustccs arc rcquwed to.. seleet suitable accounting polici&s alld then apply them consistcndy. obseTre the methods and principles in the Charities SORP: mak¢ judgements and estimates tbat are Teasonable and ptuden4 State wh¢ther applicable UK A¢countinE Stsndards have ixen followed, subject to any matertal departures disclosed and explained in the financial statnCnts. and prepare the financial statements on the going eoncern b&si5 unless it IS Inappropriate to preSrne tbat thc Clwitablc Trust will continue in busitic&* The trnstees are responsible for keeping adequate accowitiDg r¢cords disclose with reasonable accuracy at any time the financial position of the Charitabl¢ Trust and to enable them to ¢nsur¢ that the Financial Statements comply with the Charities Aci 2011, as 8melldEd by the ChaTiti¢s Act 2022. the applicabl¢ Charitic5 (Accounts and Rcports) Rcgul4tiotLS and the provision of the tnt deed. They 8r£ also responsible for safeguarding the assets of the Charitable Trust and hcncc for tsking rcasonable stcps for thc prcvention and dctection of fralld and other irregularitie5. RISK MANACEMEKr In liaison with the Management Conunittee. fim&s are G3reIlY tnoDitored and disfjussions are held on a monthly basis.
SIR EDMU1) TLRYOR:S HOSPITAL Trustees R ort for the ear ended 31M December 21123 REFERENCE AND ADLIIINIST114TIVE DETAIIS The name of the Charity is SIT Edr(Nmd Turnor's Hospiul. Its registsation number is 218766. Th¢ principal addre55 is Clo Rob¢rt Bcll & Company. Old Bank Chambus. Horncastl4 Lincolnshire, LN9 SHY. The Charity Ttwtees during the year to 31° DK¢mbcr 2023 wffc: Rev Mark Holden (Chairm) Mrs Elizabeth Stephenson Rev Susan Bradley Rev James Campbell Mr5 L Westwood Mrs Monica BDUM (ttsiglled) MTS MaTilyn Thornicroft Mr J Bird Mrs J Cannon Thc &rwuttts ar¢ subjected to an independent examincrs rcw)rt by R Wc15h FCA of Saul Faitholrn Limite& Chartered Accouatanls. 12 Tentercroft Str¢< Lincoln. ROBERT BELL Ah" Managing Agents Old Bauk Chambcrs Horncasile Lsncolnshire Rev MaTk Holden On Behalf of the Tntstecs 18" March 2024
INDEPENDEliT EXLMLNER'S REPORT TO THE TRUSTEES OF SIR EDlIuT) TL]LNOR'S HosprrAL I report to the TnteeS on my examination of the accounts of the Sir Edmund Turnor's Hospital (the Trust) for the year ended 31" December 2023 which are set out on pages 5 to 12. RESPECTIVE RESPONSIBILITIES OF TRUSTEFS AND EXAMthTR The Trustees are responsible for the prepardtion of the accounts. The Trustees considet that an audit is not rcquir¢d for this y¢ar under section 14412) of thE Clwities Act 2011. as amffldcd by thc Charitics Act 2022, and that all independent examination is needed. It is my responsibility to: Examine the accounts {undeT 5cctiots 145 of the 201 l Act),. follow th¢ proccdures laad down in the G¢ncra] Directions givcn by thc Charity Commission under section 145{5)(b) of th¢ 2011 Act. and 8tste whether particular matters have come to my 8tteDtion. BASIS OF IliDEPENDENT EXA1LyERS, REPORT My examination ¢arr&¢d out in acwrdan¢e with the G¢ft¢r21 Directions gtv¢n by th¢ ChaTity Commission. An examination includes a review of the accounting recor(Ls kept by the ChaTity and a compR50n of thc accounts pr¢s¢nted with tlL05e records. li s0 iDcludcs considcratson of 8ny unusual items or disclosures in the aC¢Ollnts and s¢¢king of explanarions you ¥s Tn*¢$ ¢onceming any SUGh matters. The procedu undutaken do not provide all the evidence that would be required in an audit and consequently no opinion 15 given as to whether the accounts present a 'trne and fair view. and the rep)rt is limited to thos¢ matters set out in the statement bclow. JNDEPENDENT EXAMINERS, STATEMEliT In connection with my examination. no matter has ¢om¢ io my attention.. (i) which gives me reasonable cause to belicvc that in any matrrial respect the requirernents.. to keep accountitt8 recor&5 in accordance with scctiott 130 of the 2011 Acl" and to prepare accounts which accord with the accounting records and to comply with th¢ counting requiremeDts of the 2011 Act hAve not been mct. or (2) to whxeK in tny opinioo attention should be drawll itt order to eDable a pmper understanding f thc accowits to bc rcachcd. R M WELSH FCA Saul Fairholm Limited Chartered Accountants 12 Tcnt£rcroft Str¢¢t Lincoln 7DB 18° March 2024
SIR EDLIILThW TLIL)ORIS HOSPITAL St#temeDt of Fillan ial Acttvltie5 for the ear ended 311¢ December 2023 Ull- Restricted restrictEd Funds Funds Tolal 31.12.2023 Restricted re5trfficted Funds Funds Tot&1 31.12.2022 Note INCOME FROM: Charitablc Activities Investments 34703 2326 34703 2326 32418 881 32418 881 TOTAL 37029 37029 33299 33299 EXPENDTfuRE ON Charitsble ActlVLties 2282 41015 43297 2282 46216 48498 TOTAL 2282 41015 43297 2282 46216 48498 NET (EXPENDfTURE)I INCOME (2282) (3986) (6268) (2282) {129171 {15199) OTHER RECOGT41SED GAs (Loss)IGain on Rcvalu¥4tion of ]nVc6trllt Asscts 11855 11855 1116 1116 NET MOVEMENT IY FufiDS (2282) 7869 5587 (2282) (iisoii (14083) RECONCII,ATtON Fund Balanceg Brought FoTwaFd 152918 290756 443674 155200 302557 457757 FUTr4D BALANCES CARRIED FORWARD I50636 298625 449621 152918 290756 443674
SIR TURNOR'S BOSPITAL Balanet Sheet as at 31" December 2023 Notes 2023 2022 FIXED ASSETS Freehold Land and Buildings Inv¢stments 193354 249437 195636 245782 442791 441418 CL"RREf4T ASSETS Debtors Cash at Ballk alld in Hand 1116 7372 1121 3479 8488 CREDITORS: Atuowits fallitig due within une y¢ar 10 2018 2344 T CURREF4T ASSETS 6470 2256 TOTAL NET ASSETS 449261 443674 THE FUYDS OF THE CHARITY Restricted Funds Unrestric¢cd Funds - Gcneral Pu Designat 150636 16786 281839 152918 12572 278184 TOTAL CHARITY FUNDS 449261 443674 R¢v Mark HOld- On b¢Ilf of th¢ TTUSt¢es Authorisa for issue on 18, MaTch 2024
SIR EDMUND Tb]LNOR'S HOSPITAL Notss to the A¢eounts for the ear ended 31° Decernber 2023 ACCOUNTING POLICIES {g4) Basis of Preparatlon The Financial Sthten]eDfS have bl pr¢pard Wlder the historical cost convention ond in *Gcordanc¢ with thc Statement of Recommended PtICe appii¢abl¢ to charities preparing th¢ir oUnts ill 1CordanCe with Charitiss SORP.. Accounting and Rcporting by Charities: Ststement of Recottm¢nd¢d Pracuce applicable to Chwities preparing th¢ir accounrs ill a(rdanGC with the Financial Ryrting Standard applicable in the Ij and R¢publi¢ of fr¢latLd {FRS102) effective I. January 2019. Thc Trust de-registered from the Housing C07poration u a registered social landlord ill 1998. (b) Housing A55Otladon Grant A Housing Association Grant (HAG) totalling £228228 was made by the Departrnent of the Enwronment and was utilised to reduce th¢ amoullt of mortgage loan to thc atnouni which it 15 Cstimatcd can be setviced by the net annual incolne of th¢ Jch¢m¢. The amount of HAG was Calculad oll the qualifying c4)sts of the schetlle in accordallr¢ with ittstructions issucd from time to tirne by the Depathent of the Environment. The grant was waid dir( to thc Ictiding authority. The residual loaft repayable to the finance prOder over a period of 30 Y5. (c) Fixed Assets The ¢OSL of buitding the aimshou5&s is not known LS no records are available. It is known that some improvements We mad¢ in the mid 1960's fitwiccd by the (now) East LitLdsey District Council in the sum of J¢ 630. It has b¢¢n d¢¢ided to show the cost of the absets. prior to the pr¢scnS improvements, as a nominal figure of £8630. Furth£r improvemcnts wcrc mad¢ Ixtwccn 1989 and 1991 fillanced by thc Housing Coryoration in the sum of £262316. The sum of thc two improvement figures has bccn tskcn as the ci>st of the property in the cOUnts. The almshouse5 are considered to b¢ th¢ only red assets of thc Cb8rtty and fityther capital expenth.turc is not uprKte& {d) DepreciatiDD Dcpr¢¢iation is calcu18ted on a straigbt linc basis. DCIatiOn is providcd to WTite down the crLgt le&8 cstimatcd rcsidual value, over the &%timated useful lifc of 100 yeats. le) Restricted Regtry The restriclcd fulld r¢prLscnts thc Housing A&sociation Grant r¢¢¢iv¢d less tbe accumllled deweciation on the related prop¢rty. (f) Deslgnated Reserves Th¢ d¢sIated rcscryc rcprcscnts amounts set aside for future cyclical r¢paiTS and maintenance and extraordinary ttpairs to housing accommodatiott.
SIR EDNtUNI) TLILYOR'S HOSPITAL Notes to tbe Accowits for the ear ended l D¢¢¢mber 2023 ACCOUIYTING POLICIES (CONf'D) (g) General Reserves General purp( reserves comprise those Omds which the Tnte¢S ar¢ free to use in accordance Thith the charitable obj'ects but which have not been classified a5 de5ignatcd rcscrvcs. Th¢ TTUStccs confirm that appropriate levels of gener&1 purpos¢ r¢s¢rv¢s exist. given the ongoing eosh requirements of the Charity. (h) Investments InvestmEnts are carried at market value with thc nJovemcnt Tn maTket value being reco8llEsed Ati the Statement of FitiatiGial AcUViii. (i) Income Recognition Jncoming Tesources are deTived from ordinary activities. Income is recognised on the chariry ha5 entitlement to the inCOTne. it is probablc that thc income will be received and the amount of income receivable can be measured reliably. The entity is not rcgistcrcd for VAT. (i) Expenditllre Recognition Expenditure is accounted for on an accruals bagis and tbat which r¢lat¢s to the almshouses, in particular, utiliti¢s, tnanagement fees, independenl examination fee attd maintetjance are regarded &4 beillg for chan"tabl¢ activitics. Furtber detail is providal in note 3. Liabilitics arc rKogniscd as cxpcllditurc as soon as thcr¢ 15 a Icgal or constNctive obligation committing the cbarity to th21 expenditure, it is probable that settlcmcnt will be required ad the amount of the obligation can rn¢asurcd r¢liably. {k) Allocation of Support aud Governgnce Costs Support wsts hav¢ b¢¢n alloratd ktwwi govcrnancc costs and management fees. Governance cosis comprise all costs involving the public accountability of the chaTity and its con)pliance with regalation and good prncuce. Thes¢ costs ar¢ for the independent examination fee. DEPOS IvfEREST 2023 2022 Nationa] A5so¢iaLion olAITn5houses Common Investment Fund CharitiC5 D¢posit Fund and Other knter¢st 526 1800 485 396 2326 881 There was no restricted in¢ome in 2023 or 2022.
SIR EDl¥tUND TLILIOR'S HOSPITAL Notes to the Accounts for the e4r ended 31° December 2023 VITI Restricted Testricted Funds Fullds 2023 Total Restrifte4J restricted Funds Funds 2022 Total Clcaning Rates Maintenance of Buildings Depreciation Elcctricity Maintenance of Groullds Insurances Sundrics and L¢lting F¢¢ an Interest 240 1400 240 225 2073 225 2073 25151 25151 2282 343 35329 35329 2282 392 2282 2282 343 392 1174 1522 1174 1522 1089 1420 1089 1420 3031 3031 1622 1622 2282 32861 35143 2282 42150 44432 Support Costs Management Fees Governance Costs 6932 6932 2956 2956 Iiio iiio 2282 41015 43297 2282 46216 48498 Support atld govun8nce costs are allocated in their entirety to the Charity's principal activity. GOVERNAI%CE COSTS 21123 2022 Indqjendent Examiners Fees 1222 1110 This f¢c inGlud¢s prothirtion of stzLutory acrounts for the Charity. UST 'ERATIOI% ANLI) EXPEP*SLS No remuneration directly or indirectly out of thc fi5 of tbc Charit> was paid or is payablc for thc year to any Tne or any person or persons known to be ¢onne¢ted wryth any of them. Thcrc have no Teimbursement of expenses made to any TnteeS during the year.
10. SIR EDMUND TLKNOR'S HOSPITAL otes to the Accounts for the ear ended 311¢ December 2023 2023 2022 General De¥ignated Purpose Fund Fund General Purpose und Designated Fund At Beginning of Year Investmcnt Valuation Gains Invcstmcnt Disposal Charities Deposit Fund and BuiLding Socicty Intcre6t Incoming Re80urces Outgoing Resources 2.8184 I 1855 (10(xx)) 12572 276672 1116 25885 10000 18(M) 396 35229 (41015) 32903 {462L6) At End ofyear 281839 16786 278184 12572 The Designated Fund represents a Teserve for filture major repair or enhancement expenditure to housillg prottrties. Tbe 5¢r¥¢ Is predijminandy m*Ghcd against the amollnts htld in Fix Asset Investments irt the Balance Sheet. The Restricted Fund repres¢nts thc historic Hou5Tng Assoriation Grant receivcd less the accumulatcd depreciation charge in respect of the freehold land and buildings. 21123 2022 At Begtnnittg of Year DepTeci&tion Charge on Properties 152918 (9282) 155200 (2282) At End of Year 150636 152918 The R&stricÉed Fund caD be analysed a6.. Historic Housing Association Grant Cumulativc Propcrty Depreciation 228228 (77592) 228228 (75310) 150636 152918
SIR EDLIIUND TbULNOR'S HOSPITAL Notes to the Accounts for the ear ended 31° December 2023 TANGIBLE FIXED ASSETS- FREEHOLD L1) AND BIILDINGS COST Ai Beginning of Year 270946 At End of Year 270946 DEPRECIATION At Beginning of Ycar Charge 75310 2282 At End of Year 77592 NET BOOK VALUE At Beginning of Year 195636 At End of Y¢ 193354 VESTMENTS 2023 2022 M&rket Value Market Value C05t Cost 1381 {2022 .. 138 1) M & G Charity Multi Assel Fund. Market value £89.82 {2022 .. £88.62) pcr 100 units Charitics Dcposii Fund 1732 (2022 .' 1824) M & G Charity Muiii A55¢1 Fund. Matket Value £1120826 (2022 .. £9251.57) per 100 units. St Jam&q Place Untt Trust Inv¢sttn¢nt 100?0 39349 12432 42871 10020 39349 12223 41071 7217 l94134 7600 192488 56586 249437 56969 245782 2023 2022 Investments at market vaEuc can bc summarised 85: At 31" DcccEniw 2022 Disposals Dcposit Interest Received {LossyG&in on Investmenrs on Revaluation 245782 {ioooo) 1800 11855 244270 396 1116 Market Value at 31" Ikn¢mbEr 2023 249437 245782 Thc Charitics Deposit Fund ]nvestment is repayable on demand. It h&8 not been posskble to determine the costs of the other investmcnts and thcsc arc Shown at 1989 valuations plus cost of additions.
12. SIR EDMUYD TLIthOR'S HOSPITAL Trlotes to the Aceounts for the ear ended 31 Decetnber 21123 LW- Amouuts falling du¢ withio on¢ year 2023 2022 Arrears of Weekly Mailllenance Contributions Prepayments 334 782 381 740 1116 1121 io. CREDITORS- Amounts falling du¢ within oneyear 2023 2022 Accruals 20I8 2344 2018 2344 ii. ALYALYSIS OF NET ASSETS BY FU)I> General Purpose Fund D¢5ig- Re• General strScted Purpose FuDds Fund De5ig- n&ted Fund stricted Funds 2023 Total 2022 Total Fund Fixed AFsets Invesimcnts Currcnt A&5¢ts Current Liabilities 150636 10316 3?4Q2 193354 249437 249437 152918 10316 32402 245782 195636 245782 8488 8488 4600 (2018) (2018) (2344) (2344) 150636 16786 281839 449261 152918 E2572 278184 443674 12. CONTROLLIF*G PARTY Th¢ Charity is controllcd by th¢ TTUStc¢s.