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

2. 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

4. 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

5. 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

6. 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