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|Governors'
Report||||Page|
|---|---|---|---|---|
|Introductory|sentences||||
|Reference and administrative|||details||
|Objectives and public benefit|||||
|Governance|and organisation||||
|Principal
activity|||||
|Achievements|and future|plans|||
|Financial
review||||18|
|Statement
of|Governors'|responsibilities||21|
|Independent
auditor's|report|||22|
|Statement
offinancial|activities|||25|
|Balance sheet||||26|
|Statement
ofcash flows||||27|
|Notes to the statement|ofcash flows|||28|
|Notes to the accounts||||29|
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|||||%Delivered|on|%Delivered|on~|
|---|---|---|---|---|---|---|---|
|||No|ofJobs|Time||Time|;8)me|
|Emergency|24hours||11|91%||||
|Relet|||50|78%||100%||
|Urgent|7days||59|73%||95%||
|Routine|28Days||125|90%||84%||
|planned works|180days||113|74%||98%||
|Servicing|Appt||98|N/A||75%||
|Totals||||||||
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||Metrics specified
by the regulator|||Outcome|Outcome|
|---|---|---|---|---|---|
|||||2021/22|2020/21|
|Metric 1:|Reinvestment
%|||2.3%|1.5%|
|Metric 2a:|New Supply (Social Housing
Units) %|||1.0%|NIL|
|Metric 2b;|New Supply (Non-Social
Housing|Units)|%|Nil|NIL|
|Metric 3;|Gearing %|||(3.28%)|(2.19%)|
|Metric 4:|EBITDA (Major Repairs Included)|||1,746%|1,456%|
||Interest Cover %|||||
|Metric 5:|Headline
Social Housing
Cost per Unit|||56,596|E6,902|
|Metric 6A:|Operating
Margin (social housing|lettings|only)|(1.4%)|(3.7%)|
|0/||||||
|Metric6B:|Operating
Margin
(overall) %|||13.3%|8.9%|
|Metric 7:|Return on Capital Employed
%|||0.8%|0.6%|
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|||||F|million|
|---|---|---|---|---|---|
|Endowment|funds||||10.58|
|Restricted|funds||||0.43|
|Unrestricted|designated||funds||0.46|
|Unrestricted|general|funds|||0.42|
||||||11.89|
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THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN
OKEHAM
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE GOVERNORS OF THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST
ANNE IN QKEHAM
Responsibllitlgs of Govemor¥
As explained more fully in the Govemors, responsibifilios slatgmgnl Sel out on page 21. the Govetnors are responsiblè for
the pieparation of financial statèmÈnts which give a true and fair view, and for such intèmal Control as the Govemots
dÉtèrmÈne is necessary to enabl& the preparation of financial st8tgmenls that are free from materfal mi88tatement, whether
due to fraud or error.
In preparing the financial st8tÈmenls, the Govemors aro re5ponsFble lof assessing the Ch8rity's ability lo continue 8S 8
going concem. disclosing. as applicable, rnatlers lated ID going concem and using the golng concerll basis of acsounling
unlass the Governors either inl¢nd lo liquidate the Charity or to ¢88se operations. or have no realistic altemative but to do
so.
AudltoV$ re$pon$ibilities for the audrt of thg flnanclal stat•m•nl#
We have been appointed as auditor under sèction 144 of the Charities Act 2011 and report in accordancè with regulations
made under section 154 of th* Act.
Ourobjectives are to obtain reasonable assurance about whetherlhe financial st8t&ments as a whole are f9 from material
misststemenl, whether du¢ to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable
assurance is a high level of 85suran, but is not a guarantee that an audit Gonducted in accordance with ISA5 (UK) will
always detect a material Fnisslatement when it exists. Misstatements Gan arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be Èxpècted lo influence the e¢onomi¢ decisions of usel$
tsken on the basi$ of these financial siatemenls.
Irregularities. in¢luding fr8ud. are instances of non-compliance with laws and regulations. We dèsign procedures in line with
our responsibiliti&s, outlined above. to d¢te¢l material mis5tatementS sn respect of irregLtJarities, including fraud. The tellI
lo which our procedures are eapable of detecting irregularities, including fraud is delaif¢d below..
In addressing the risk of fr8ud through management override of controls, testing Ihe 8ppropriaten&5s of jtsumal
entries and other adjuslment5',
Assessing whether the judgements made in 8ccounling estimates ar¢ indicative of a potential bias..
Evaluating the rationale of any significant transaction5 that are unusual or outside the nomial course of business.,
Analytical procedur6s are performed as well as subslantNe tesling to identify any polenlial misstatemÉrrt due to
fiaud,. and
Th8 audit ProdureS would also involve being aware ol any such items from r•viÉwing minutes and Ihir(I paty
communi¢alion5 and reports and discussions held with staff and management to obtain 8n understanding.
Because of the inhorenl limitations of an aud¢c, there is a risk thal wo wlll not detect all irregularilies, including those leading
to a material misstalernent in the financial statèments or non-complianGe with regulation. This rtsk increases (he more Ihal
complianc& with a law or regulation is removed from the events and Iran5aclions reffecled in th8 financial statements. 08
we will be less likely to become aware of instances of non-compliance. Th8 risk is also 9¥ter 98rdIng irregularitie
occurring due lo fraud rather than errol, as fraud involves intÈnb'onal concealment, lorgery, collusion, omission or
misrepresenlalion.
A further dascriplion of our respon3ibililios for the audit of the financial slalements is locatad on the Financial Reporting
Council's wèbsite at.. https-.lhw.IrQ.Qrg.ukIour-workIAudlVAud1I-and-aSsnce1stsdardS-andUldaTr1sIad3rds-
and-guidanG¢-for-auditorslAudilors-responsibililies-for-auditlDescription-of-auditors-responsibililies.for-audit.aspx.This
description foms part of our auditorfs report.
-23-
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|||||Unrestricted|Restricted|Permanent|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||||funds|funds|endowment|2022|2021|
|||||||funds|||
||||Notes||6||||
|Income and endowm|t|from.|||||||
|Charitable
activities||||670,305|||670,305|656,179|
|Investments||||121,463|||121,463|115,019|
|Other income||||2,456|7,500||9,956|26,050|
|Donations
and legacies||||379|||379||
|Total income and endowments||||794,603|7,500||802,103|797248|
|~E*
it|||||||||
|Charitable
activities|||7|517,950||161,409|679,359|703,954|
|Investment
management|costs||8|24,959|||24,959|23,081|
|Total resources expended||||542,909||161,409|704,318|727,035|
|Net incoming/(outgoing)
resources
before transfers
and gains/(losses)||||251,694|7,500|(161,409)|97,785|70,213|
|on investments|||||||||
|Net gains/(losses)
on|||||||||
|investments|||||47,562|184,845|232,407|1,010,127|
|Net incoming/(outgoing)
resources
before transfers||||251,694|55,062|23,436|330,192|1,080,340|
|Gross transfers
between|funds|||(191,357)|(6,898)|198,255|||
|Net movement
in funds||||60,337|48,164|221,691|330,192|1,080,340|
|Fund balances at 7 April|2021|||817,846|385,450|10,364,495|11,567,791|10,487,451|
|Fund balances at 6April 2022||||878,183|433,614|10,586,186|11,897,983|11,567,791|
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|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||Notes||f|f|
|Fixed assets||||||||
|Tangible assets||||12||5,464,886|5,444,661|
|Investments||||13||6,232,796|5,994,434|
|||||||11,697,682|11,439,095|
|Current assets||||||||
|Debtors||||15|28,|100|53,876|
|Cash at bank and|in|hand|||479,977||406,446|
||||||508,077||460,322|
|Creditors: amounts||falling|due within|||||
|one year||||16|(99,883)||(108,479)|
|Net current assets||||||408,194|351,843|
|Total assets less|current||liabilities|||12,105,876|11,790,938|
|Creditors: amounts||falling|due after|||||
|more than one year||||17||(207,893)|(223,147)|
|Net assets||||||11,897,983|11,567,791|
|Capital funds||||||||
|Unrestricted
funds|-|general||||421,500|398,170|
|Unrestricted
funds|—designated|||21||456,683|419,676|
|Total unrestricted|funds|||||878,183|817,846|
|Endowment
funds||||22||10,586,186|10,364,495|
|Including
revaluation||reserve off2,102941(2021:f1,937885)||||||
|Restricted
funds||||23||433,614|385,450|
|Including
revaluation||reserve off321,324(2021:f273,761)||||||
|||||||11,897,983|11,567,791|
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|||||2022||2021||
|---|---|---|---|---|---|---|---|
||||Notes|6||8||
|Cash flow from operating|activities||||197,241||142,522|
|Cash flow from investing|activities|||||||
|Purchase oftangible
fixed assets||||(184,458)||(121,435)||
|Investment
purchases
and|disposals|||82,067||3,057||
|Interest income||||577||595||
|Investment
income (net ofinvestment||||||||
|management
costs)||||95,927||91,938||
|Net cash flow from investing||activities|||(5,887)||(25,845)|
|Cash flow from financing|activities|||||||
|Repayment
of bank loans||||(14,757)||(11,815)||
|Drawdown
ofloan||||||25,000||
|Interest
paid||||(15,044)||(15,628)||
|Net cash flow from financing||activities|||(29,801)||(2,443)|
|Net increase
in cash and|cash equivalents||||161,553||114,234|
|Cash and cash equivalents|at|beginning|ofyear||926,001||811,767|
|Cash and cash equivalents||at end ofyear|||1,087,554||926,001|
|Cash and cash equivalents||consists of:||||||
|Bank balances and short term||deposits|||479,977||406,446|
|Investment
cash balances|||||607,577||519,555|
|Cash and cash equivalents||at end ofyear|||1,087,554||926,001|
##
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|||||||||2022||2021|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Notes|6|||
|Note (i) —Reconciliation|of net||income/(expenditure)|||to|||||
|net cash flow from operating||activities|||||||||
|Net incoming/(outgoing)|resources|||||||97,785||70,213|
|Adjustments
for:|||||||||||
|Investment
income recognised||in|statement||offinancial||||||
|activities||||||||(120,886)||(115,019)|
|Investment
management|costs|||||||24,959||23,081|
|Depreciation
and loss on|disposal||oftangible||fixed assets|||164,233||156,743|
|Interest payable||||||||15,044||15,628|
|Interest received||||||||(577)||(595)|
|Decrease/(Increase)
in debtors||||||||25,776||(33,090)|
|(Decrease)/Increase
in creditors||||||||(9,093)||25,561|
|Net cash flow from operating||activities||||||197,241||142,522|
|Note (ii) - Investment
purchases|||and disposals||||||||
|Purchase ofother investments||||||||(278,794)||(698,625)|
|Proceeds on disposal of|other investments|||||||360,861||701,682|
|||||||||82,067||3,057|
|Note (iii) - Depreciation|and impairment|||oftangible||fixed|||||
|assets|||||||||||
|Depreciation
and impairment
of||tangible||fixed assets||||155,327||155,745|
|Loss on disposal oftangible
fixed|||assets|||||8,906||998|
|||||||||164,233||156,743|
|Analysis ofchanges
in|net debt||||||||||
||||||||Balance at||Other|Balance at|
|||||||7|April 2021|Cash flows|non-cash|6 April 2022|
||||||||||movements||
||||||||||6||
|Cash|||||||406,446|73,531||479,977|
|Loans due within one year|||||||(14,723)|(497)||(15,220)|
|Loans due after one year|||||||(223,147)|15,254||(207,893)|
||||||||168,576|88,288||256,864|
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||||2022|2021|
|---|---|---|---|---|
||Common|room lets|300||
||Sundry site receipts||1,368|1,569|
||Grant received —COVID-19||788|1,981|
||Performance
related grant||7,500|22,500|
||||9,956|26,050|
||Analysis|by fund|||
||Unrestricted
funds||2,456|3,550|
||Restricted|funds|7,500|22 500|
||||9,956|26,050|
|6|Donations|and legacies|||
||||2022|2021|
||Donations|and gifts|379||
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||||Provision of|Almshouses|
|---|---|---|---|---|
||||2022|2021|
||||6|E|
|Staff costs|||179,016|180,703|
|Depreciation
and|loss on disposal offixed assets||164,233|156,743|
|Day to day maintenance|||74,464|84,324|
|Cyclical maintenance|||67,042|96,519|
|Utilities|||31,447|31,685|
|Window cleaning|and materials||1,692|1,893|
|Support worker expenses|||605|540|
|Alertacall|||16,380|15,094|
|Charitable
benefit|||31,939|35,036|
|Landscaping|||26,651|23,969|
|Buildings
and contents||insurance|7,968|7,726|
|Management|||41,885|35,185|
|Door entry system|||11,181|11,343|
|Void properties|||3,381|1,494|
||||657,884|682,254|
|Governance
costs|(see|note 9)|21,475|21,700|
||||679,359|703,954|
|Analysis
by fund|||||
|Unrestricted
funds|||517,950|550,485|
|Endowment
funds|||161409|153469|
||||679,359|703,954|
##
|2022|2021|
|---|---|
|24,959|23,081|
|24,959|23,081|
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|9|Supportcosts||||||
|---|---|---|---|---|---|---|
|||Governance|2022|2021|Basis ofallocation||
|||costs|||||
|||6|||||
||Audit fees|6,431|6,431|6,072|100%charitable|activities|
||Interest payable|15,044|15,044|15,628|100%charitable|activities|
|||21,475|21,475|21,700|||
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|||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|
|||||||||Number|Number|
|Clerk||||||||||
|Administration|Assistant|||||||||
|Property Services Manager||||||||||
|Finance Officer||||||||||
|Residents'
Support Worker||||||||||
|Housekeeper||||||||||
|Employment|costs|||||||2022|2021|
|||||||||6|6|
|Wages and salaries||||||||156,561|157,726|
|Social security|costs|||||||10,040|10,466|
|Other pension|costs|||||||12,415|12,51'1|
|||||||||179,016|180,703|
|Remuneration|of key management||personnel|||||||
|The remuneration
of key management||||personnel||is as|follows:|||
|||||||||2022|2021|
|||||||||E|6|
|Remuneration|benefits for the Clerk to|||the Charity||||53,632|52,095|
|There were no|employees|whose annual|||remuneration||was f60,000 or more.|||
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|12|Tangible|fixed assets|fixed assets|||||
|---|---|---|---|---|---|---|---|
|||||Land and|Fixture,||Total|
|||||buildings|fittings|and||
||||||equipmentf|||
||Cost|||||||
||At 7 April|2021||7,692,324|66,|189|7,758,513|
||Additions|||183,498||960|184,458|
||Disposals|||(37,486)|||(37,486)|
||At 6 April|2022||7,838,336|67,|149|7,905,485|
||Depreciation
and impairment|||||||
||At 7 April|2021||2,259,651|54,201||2,313,852|
||Depreciation
charged||in the year|152,503|2,824||155,327|
||Depreciation
on disposals|||(28,580)|||(28,580)|
||At 6 April|2022||2,383,574|57,025||2,440,599|
||Carrying|amount||||||
||At 6 April|2022||5454 762|10|124|5464 88I|
||At 6 April|2021||5,432,673|11,988||5,444,661|
##
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|Fixed asset investments||||||
|---|---|---|---|---|---|
|||||2022|2021|
|||||E|E|
|Listed investments||||4,910,219|4,819,879|
|Farmland||||715,000|655,000|
|Cash and cash equivalents:||||||
|- Investment
management|deposit account|||156,687|80,262|
|- COIF deposit account - Extraordinary||repair|fund|358,355|358,079|
|- COIF deposit account - Cyclical maintenance|||fund|92,535|81,214|
|||||6,232,796|5,994,434|
##
|Movemen|ts
in fixed asset investm|ents||||
|---|---|---|---|---|---|
|||Cash|Shares|Farmland|Total|
|||E|E||E|
|Cost or valuation||||||
|At 7 April|2021|519,555|4,819,879|655,000|5,994,434|
|Additions||88,022|278,794||366,816|
|Valuation|changes||152,619|60,000|212,619|
|Disposals|||(341,073)||(341,073)|
|At 6 April|2022|607,577|4,910,219|715,000|6,232,796|
|Carrying|amount|||||
|At 6 April|2022|607,577|4,910,219|715,000|6,232,796|
|At 6 April|2021|519,555|4,819,879|655,000|5,994,434|
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|14|Financial|instruments|instruments|||2022|2021|
|---|---|---|---|---|---|---|---|
|||||||E|F|
||Carrying|amount|offinancial|assets||||
||Equity instruments||measured|at fair value less impairment||4,910,219|4,819,879|
|||||||4,910,219|4,819,879|
||Carrying|amount|offinancial|liabilities||||
||Loans measured||at amortised|cost||223,113|237,870|
||Financial|assets|pledged as|collateral||||
||The loans|are secured and some carry a variable|||rate of interest as described|in note 18.||
||The loans ar|e secured|e secured|and some carry|and some carry|a variable
rat|a variable
rat|e of interest|e of interest|as described|as described|as described|in note 18.|||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||The interest|payments||on these loans||are therefore||susceptible||to changes|||in interest rates. The|Governors||
||acknowledge|these risks, though|||they also acknowledge||||that the|financial||impact of any increases||in|interest|
||rates will be|mitigated||by corresponding||increases|in|the|performance||oftheir||fixed asset investments.|||
|15|Debtors|||||||||||||||
||||||||||||||2022||2021|
||Amounts
falling due|||within one|year:||||||||||E|
||Other debtors||||||||||||1,569||35,463|
||Prepayments|and accrued income|||||||||||26,531||18,413|
||||||||||||||28,100||53,876|
|16|Creditors: amounts||falling due within|||one year||||||||||
||||||||||||||2022||2021|
|||||||||||Notes|||E||E|
||Loans and overdrafts||||||||||18||15,220||14,723|
||Trade creditors||||||||||||70,178||63,477|
||Other creditors||||||||||||811||14,574|
||Accruals and|deferred||income|||||||||13,674||15,705|
||||||||||||||99,883||108,479|
|17|Creditors: amounts||falling due after more than||||one year|||||||||
||||||||||||||2022||2021|
|||||||||||Notes|||E||E|
||Loans and overdrafts||||||||||||207,893||223,147|
##
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##
|18|Loans and overdrafts|Loans and overdrafts||||
|---|---|---|---|---|---|
|||||2022|2021|
|||||6|5|
||Long term housing
loans|||223,113|237,870|
||Payable|within one year||15,220|14,723|
||Payable|after one year||207,893|223,147|
||Amounts|included above which|fall due after five years:|||
||Payable|by instalments||141,487|161,047|
##
|Lease Commitments||||||
|---|---|---|---|---|---|
|||||2022|2021|
||||||F|
|The future
minimum|operating|lease payments|are as follows:|||
|Within one year||||15,000|15,000|
|Between one and two years||||15,000|15,000|
|Between two and five years||||10,000|25,000|
|||||40,000|55,000|
##
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|20|Analysis|of|net assets|net assets|between|funds|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|||Designated|||Restricted|Endowment|Total|
|||||||||funds|funds|||funds|funds||
|||||||||f||f||F|f||
||Fund balances at 6 April||||2022||||||||||
||are represented
by:||||||||||||||
||Tangible|fixed assets|||||10,124||||||5,454,762|5,464,886|
||Investments||||||||450,890|||433,614|5,348,292|6,232,796|
||Current|assets/(liabilities)|||||411,376||5,793||||(8,975)|408,194|
||Creditors|due after one year|||||||||||(207,893)|(207,893)|
||||||||421,500||456,683|||433,614|10,586,186|11,897,983|
|21|Designated||funds||||||||||||
|||||||||||||Balance at|Transfers|Balance at|
||||||||||||7|April 2021||6 April 2022|
||Cyclical|maintenance||fund||||||||61,596|36,732|98,328|
||Extraordinary||repairs|fund||||||||358,080|275|358,355|
|||||||||||||419,676|37,007|456,683|
|22|Endowment||funds||||||||||||
|||||||||Depreciation||and|||||
|||||||||loss|on disposal||||Revaluations||
|||||||Balance at|||of land|and|||gains and|Balance at|
|||||||7 April|2021
f||buildings||f|Transfers|losses
f|6 April 2022
f|
||Permanent
endowment||||fund|10,364,495|||(161,409)|||198,255|184,845|10,586,186|
##
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||||||Increase
in|||
|---|---|---|---|---|---|---|---|
||||Balance at||value of||Balance at|
||||7April 2021|Income|investments|Transfers|6 April 2022|
|Recoupment|fund||385,450||47,562|602|433,614|
|Office conversion||project||7,500||(7,500)||
||||385,450|7,500|47,562|(6,898)|433,614|
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