2025-10-31-accounts

GILSON'S HosprrAL CHARITY Registered Charity No: 218929 TRUSTEES, ANNUAL REPORT AND ACCOUNTS For the year ended 31 October 2025

Contents I, Reference and Adminlstratlve Details 2. Trnstees, Annual Report 3. Independent Examlner's Report • 4. Receipts and Payments Account S. Statement of Assets and Llabllltles 6, Notes to the Accounts

l. Reference and Administratbve Details Charlty name Also known a5 Gilsons, Hospltal Charity Gilsons, Hospital Charity Re8lstered tharity number 218929 Prlnclpal office 70 Main Street, Lyddington, Oakham, Rutland, LE15 9LT Iclo the Clerk to the Twsteesl Trust Deed dated 15 March 1978 and as amended by 29 August 1997 and 12, December 2017. Unincorporated charlty lalmshou5e charity) administered by a board of Trustees Govemlng document Charlty strurture Trustee5 The Trustees who served during the year ended 31 October 2025, and up to the Llate of thls report, were.. Name Role Notes MrREJ8oyle Chairman Mr Charle5 Tyler Trustee Mrs Sally Leech Trustee Mrs Sara Traylen Trustee Mrs Helen Saunders Trustee Mr Mike Willis Trustee Reslgned 2 December 2025 (after the year endl Rev Stephen Gamble Trustee Appolnted 2 Decernber 2025 (after the year end - not a trustee at 31.10.20251 Mr Robert Bloomfield Trustee Clerk to the Trustees Ms Sharon 8romilow. 70 Main Street, Lyddington, Rutland, LE15 9LT RB Accounts Limited Itrading as RB Chartered Accountant), Meeson House, 76 Pinfold Lane. Penkrldge, Stafford, ST19 SAP Will Barker & Co, 12 The Point, Llons Way* Sleaford, Lincolnshire, NG34 8GG Independent Examiner Managlng a8ent- Morcott House Farm Buildlng survey¢r l almshouse Inspertions Mr Peter Wilmot, Peter Wilmot Architects Professlonal membershlps Member of the Almshouse Association and the Houslng Ombudsman Service

1. Trustees, Annual Report Gilsons, Hospital Charity, clo 70 Main Street, LyddirTrgton, Rutland, LE15 9LT, is registered with the Charity Commission No. 218929 and constituted as an unincorporated association by Deed of Trust dated 15 March 1978. The Charity is administered by a Management Committee of Trustees comprising those listed under Reference and Administrative Details above. Clerk to the Trustees: Ms Sharon Bromilow. 70 Main Street, Lyddington, Rutland, LEIS 9LT. The object of the Charity is to provide accommodation in the almshouses for persons qualifying accordin8 to the conditions laid down by the Trust Deed. The Charity is administered and managed by the Trustees, subject lo and in conformity with the provisions of the Trust Deed, and such services provided by the Trustees are made on a voluntary basis. The power to appoint new Trustees is vested in the existing Trustees. The Trustees can report that the management of the Charity was in their opinlon completed on a satisfactory basis during the year. The Trustees, having considered the guidance issued by the Charity Commission on public benefit, are of the opinion that the criteria are being met within the objectives and activities of the Charity. Revlew of the year: Mr Mike Will, resigned as a trustee and Mr Robert Bloomfield was appointed as a trustee, both after the year end on 2 December 2025,. Ms Sharon Bromilow wa5 appointed Treasurer durin8 the year. The Trustee5 continued maintenance works to the Charity properties as advised by the Charity's architect, Peter Wilmot Architects. Full condition surveys of all seven almshouses identified remedial works, including a bathroom renovation at 3 Gilsons Close, completed and signed off Shortly after the vear end, and radon testing was commissioned across all seven properties. The Trustee5 approved and progressed replacement of the timber barn at Morcott House Farm, Scredington (contractor: Wordsworth Homes), completed shortly after the year end at a total cost of £20,599: £9,550 of the tenant of the farm paid the contractor and the charity offset the rent that was to be paid by the tenant. The Trustees also decided to let the exi51ing planninB permission for the red brick barn at the farm lapse at the end of 2026, and to reapply when required. The Trustees have reviewed their financial investments with their adviser, Chattertons Wealth, following the transfer of the portfolio to the Transact platform in July 2024. The Trustees resolved to Install individual water meters at the almshouses on 112, May 20261, however the Trustees have decided that the Trust will continue to pay for water and sewerage charges for all existing residents. Following the year end, the Trustees resolved to appoint RB Accounts Limited a5 Independent Examiner for the year ended 31 October 2025, in place of the Charity's previous examiner, having obtained comparative quotations. The financial position of the Charity at 31 October 2025 15 considered satisfactory and more than adequate to meet the objectives of the Charity. Signed Dated MrREJBoyle For and on behalf of the Trustees

Independent Examiner's Report To the Trustees of Gllsons Hospltal Charfty I report to the charity trustees on my examination ol the aetounts of the charity for the year ended 31 Ortober 2025. ResponslbllMles and basls of report A5 the charity's trustees you are responsible forthe preparation of the accounts in accordance wilh the reqU1￿ments of rhe Charlties Act 2011 lthe Art'l. I report in respect of my examination of the charity's accounts carried out under sertion 145 of the Act and in carrying out my &Kamination I have lollowed all the applicable Direction5 given by the Charity Commission under section 145lSllbl of the Act. Independent examlner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination 8iving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act; or the accounts do not accord with those records. I have no concern5 and have come across no other matters in connection with the examinatitsn to which attention should be drawn in this report in ofder to enable a proper understanding of the accounts to be reached. Slgn Name Richard Jatne5 Barnett Qualification FCA Fimi RB Accounts Limited Address Meeson House, 76 Pinfold Lane. PenkridRe, Stafford. ST19 SAP Date 2510812026

1. Receipts and Payments Account For the yeor ended 31 October2025 (General Purposes Fund- unrestrt¢tedJ 2025 2024 Recelpis Income Aeteipts Rental income- Morcott House Farrn 19,673 19,100 Rental income- Alrn5houses 20,120 18,589 Wayle3ve5- Western Power Dividend5 80 245 2.928 Bank interest 200 196 CCLA investment income 651 5CK) Total Re￿ipts 40,724 41.558 Payments Direct Chadtable Expenditure maintenan￿ and repairs lincl. Careline. gardeningl Properry improvemeThts 9.341 7.101 9,550 Insurance 3.726 3.554 Water rates 3.088 3,817 Agent5, fees Planning pertnlsslon 1.719 1,146 S.986 27.424 21.604 other Expendlture Clerk's salary ICh3ttertonsl Treasurer's fee 9.503 4,2￿) 350 Independent examination fee 870 810 Subscriptions 409 400 Sundries 497 Peter Wilmot- fees 1,740 3,514 24 Tenant and thank-you glfts 680 13,576 9.421 Total Pzyments 41,000 31.02S Net Receipt51 Ideficitl for the year. before rhe reconciling adjustment bÈlow Add= reconciling adjustment 12761 10.533 519 Net Recelpts forthe year Cash and bank balances brought forward 242 10.533 44,7S9 34.226 Cash and bank balances carried forward 45,¢XII 44.7S9

2. Statement of Assets and Liabilitles At 31 October 2025 IGeneral Purposes Fund, with a Restricted Fund element within Fixed Assets- see Note 71 Monetary A55ets 2025 2024 Held by Chattertons (client accounil 245 High Inte￿$t Bank account 15.187 13,172 Business Premium Bank account (Cyclical MaiThtenance Fund) Community Bank account 357 352 29,457 30.990 Totsl Monetary Assets 4S.001 44,7S9 5n¥¢￿MeTrt Assets lat markot ¥alut} Tran5act- Cash 2821 3.653 Tran5aLt- ￿ AJ Bell Balanced I 95.146 85,391 Tran5act- WS Canlife Portfolio V C 95.224 84,739 CCLA- COIF Charities Deposit Fund 15,0 15,000 Total Investment Assets 208,191 188.783 xed Assets Used bythe Charity Land and building5. at cost 499,403 499,403 Totsl Fixed Assets 499.403 499.403 Other Liabilities (memorandum- not accrued in the Receipts and PayTr*ntsArcoynt above) Anglian Water 1.141 Severn Trent 573 Wordsworth Home5 (barn replacement- balance duel 11,049 R8 Accounts Limited - independent examination fee Total Other Liabilities 13.664 E67,015 of the londondbtsildings shown above relotes to o Housing Associotion grtsntrectived rowards the acquisirion of the almshouses. which the Trustees have confirmed is restricted to fJlm5house purposes. Approved the Trustees on nd signed on thelr bèhalf bv.. Mr R E J Boyle- Chalrman

3. Notes to the Accounts Note l- Ba515 of Preparatlon The accounts have been prepared on the Receipts and Payments basis. as permitted for charities whose gross income does not exceed £250,000, under section 133 of the Charities Act 2011 and regulation 10 of the Charities IAccounts and Reports) Regulations 2008. The accounts therefore do not follow ihe accruals concept. other than as noted below. and do not constitvie'true and fair view, accounts within the meaning ol the Companies Act. The Charity changed its accouniing reference date during the year. from li ouober to 31 October. for compatibility with its accounting software. This period accordingly covers 11 October 2024 to 31 October 2025 lapproximately 12.5 months). raiher than a full 12-month year, which affects comparability ol some income and expenditure 14nes with the prior year (see the Trustee5' Annual Report and Note 81. Note 2- Actounilng PolScies Ineome Is recognised when tash Is received into the Charity's bank accounts. except where noted In Note 8. Investment asset5 are stated at market value at the year end lor the m05t recent valuation available- see Note 51. Fixed assets Used by the Charity (land and buildings) are stated at historic cost and are not depreciated. reflecting the Trustee5' long-standin8 policy thai the property 15 held for continuing charitable and invesiment Use rather than consumption- the Trustees should tonf1rm this policy rernains appropriate. Liabilitie5 aTe not accrued in the primary Receipts and Payments Account but are disclosed by way of nDte Isee the Statement of Assets and Liabilitiesl. Note 3- Investment5 The Charity's investment assets comprise 3 Portfolio held on the Transact platform (General Investment Account, Portfolio 913-217-8141. valued at £193.191 as at 31 Ortober 2025, and £15,(KJO held with CCLAICQIF Charities Dep051t Fund), also valued as at 31 October 2025. The increase in value during the year is an unrealised rnarket movement,. no cash was received by the Charity as a result of No fund within the current Transact portlolio is separately identifiable as a property investment. Before the portfolio was transferred to Transact on 20 June 2024. it included distinct property investmentfunds- M&G Investment Man Property Portfolio. Empiric Student Property1£3,586 rnaTket value at 30 September 20231 and UK Commercial Property1£2.383 market value at 30 September 2Q231- together around 3.3% of the then portfolio. No equivalent breakdown has been available for 2D24 or 2025 lollowing consolidatlon into two multi-asset funds.. thls note uses the last krown12024 working papers) figures as the most recent reference poinl. Ffrusteeslinvestrnent ad¥iser to confirm whether any elernent of the current portfolio represents a property allocaiion.I Note 4- Commltments, Contln8endes and Set-off TransartSons At the year end, Ell,049 remained payable to Wordsworth Homes In respect of the replacemtnt of the timber barn at Morcott House Farm Itotsl cost £20,599). £9,550 of this cost, and £1.146 of the fam management agent's Iwill Barker & Col fees for the year. were settled by set-off directly against farm rent due to the Charity. rather than by a movement of cash through the bank. In accordance with nomal Receipts and Payments accounting for amounts settled by 5et-off, these £10.696 in total are shown gro55 above - 35 both Rental income - Morcott House Farm and the corresponding Property improvement51 Agents, fees- rather than being netted off. This has no effect on net receipts for the year or the Charity's monetary assets. Separately, £8.977 of farm rent received into the bank on l Novèmber 2024 relates to rent already reco8nised as income in the signed 11 Octobei 2024 accounts laccrued but not yet banked at that datel. This receipt has been treated as clearing that opening debtor ratherthan as this year's income, and is therefore excluded from Rental income Morcott House Farm above (see Note 81.

Separately, a repayment of £1.105 to a third party in ￿sPertOf funds received in error in a prior period ha5 been treated as clearing an opening credltor recognlsed In the working papers Imlspostings Account), rather than as this yearfs expenditure, and is therefore excluded from Other Expenditure above (see Note 81. A fee of £750 plus VAT1£9(X)I for the independent examination of these accounts, payable to RB Accounts Limited, has been accrued at the year end I2024= £810, paid in the year - see the Receipts and Payments Account). Note 5- Restrlrted Funds The Charity holds one restricted fund. A HoLtsin8 A550ciation grant of £67,015 was received many year5 380 towards the acquisition c05t of the almshouse5. The Trustees (per the Chairman, via the Clerkl have confirmed that these funds are restricted to almshouse purposes. Accordingly* £67,015 of the almshouse land and building5 is shown as a Restricted Fund in the Statement of Assets and abilities above, with the rernaining £432,388 of land and buildings Imorcott House Farm and the balance of the almshouse property), together with all monetary and investment assets, held within the General Purposes Fund lunrestrictedl. Formal confirmation of the restriction from the Trusr Deed itself Is still outstandin8 and should be obtained before the accounts are finalised. Note 6- Recon¢llln8 Adjustment and Comparabillty wlth the Prlor Year Afarm reni double-count of £8,977 lan amount already recognised as Income the si8ned 11 October 2024 account5, but ieceived into the bank and posted as fresh income again on l November 20241 has been corrected directly in Rental income - Mor¢ott House Farm above, via an opening debtor recognised In the workin8 papers,. it is not part of the adjustment below. A repayment of £l,IOS to a third party of funds received in error in a prlor perlod has simllarly been corrected at source, via an opening creditor recognised in the working papers IMispostin8s Account),. it is a150 not part of the adjustment below and no longer appears within Other Expenditure above. Net recelpts for the year include a further reconciling adjustment of £519, representing cheques recorded a5 paid in the cash book at 31 Ortober 2025 but not yet cleared by the bank at that date- a normal yèar-end tlming dlfference wlth no effert on the Charity's true financial position. A residual dlfference of less than £1. arising from the whole-pound presentation of monetary asset balances in the signed 11 October 2024 comparative accounts against the Charity's underlying penrbV- precise bank records, is not separately shown here as it 15 immaterial. Separately, the Charity's investment portfolio (Transact) increased in value by £19,408 during the year, based on the Transact valuation as at 31 October 2025,. this is an unrealised market movement, not a cash dividend paid to the Charity's bank account, and has therefore not been included a5 income in the Recelpts and Payments Account (see also Note 5 to the Accounts). Because of the change of accounting reference date (Note 11 and the matters described above, the 2025 figures are not fvlly comparable with the 2024 comparatives shown. Note 7. Post Balance Sheet Events Since the year end: Mr Mike Willis resigned as a trustee and Mr Robert Bloomfield was appointed as a trustee12 December 20251,. The bathroom renovation at 3 Gilsons Close 2nd the timber barn replacement at Morcott House Farm, both comrnitted at the year end, were completed, inspected and signed off,. The Trustees resolved to appoint RB Accounts Limited as Independent Examiner for the year ended 31 October 2025, at a fee of £750 plus VAT, in place of the Charity's previous examiner Iwh05e fee would otherwise have increased to £1,300 plus VATI, hamng obtained comparative quotation5,'

The Trustees resolved to install individual water meters at the almshouses, however the Trustees have decided that the Trust will continue to pay for the water and sewerage for all existin8 residents- The Trustees considered, but decided against, registering the Charity'5 farmland at Morcott House Farm at HM Land Re8lStry at this time, and continue to monitor Anglian Water's proposed Sleaford reservoir scheme,. The Trustees decided to let the existing planning permission for the red brick barn at Morcott House Farm lapse at the end of 2026, and to reapply when required. Approved by the Trustees on . . and signed on their behalf by.. MrREJ vle- Chalrrnan