Charity R•glstrallon No. 218931 Registared Soclal Hou$lng Provldèr No. A0611 THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM CONTENTS Page Governors, Report Inlroduclory sentences Reference 8nd odminislrative details Objectives and public benefit Governance and OT9anisalion Principal activity Achievements 16 Future plan5 18 Financial review Statement of Govemofs. responslbilitie5 21 22 Independent audilorfs report 25 Statement of financial activities 26 Balance sheet 27 Statement ol cash flow5 Notes to the sL9tement of cash tlows 28 Notes lo the acwunls
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT FOR THE PERIOD ENDED 31 MARCH 2024 The Govemor5 present their report and accounts for the period ended 31 March 2024. The accounls have been prepared in accordance with the accounting policies sel oul in note 110 the accounts and comply with the Charity's governing inslrumenls, the Charities Act 20118nd "Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.. Roference and adminlstrative details Working tille St John & St Anne Charity nutnber 218931 Registered Social Housing Provider No. A0611 Principal address Mill House South stet 08kham Rvlland LE156HY Governing Inslrurnenls Royal Charter dated 3 May 1597 as amenrsed 2 July 1976 Supplemental Charter daled 21 January 1998 as amended 27 F8bruary 2003 and 9 February 2011 Princlpal advisors Atsditors Price Bailey LLP 36 Tyndall Court Commerce Road Lynchwood Pelerborough PE2 6LR Bankers Barclays B8nk plc 10 Hi9h Street Oakham LE15 6AN Solicitors PO Box 3501 8S2 2FL Inv8slment Managers Evelyn Partnefs Inve51menl Management 14 Floor 103 Colmore Row Birtningham B3 3AG Farmland advisors Shouler & Son Counly Chambers King5 Road Melton m¢braY LE13 IQF Andrew Granger & Co 2 Grange Collage Sloughlon Grange Gartiee Road Leicester LE2 2FB Murray Estate Agents Markel Slreei Oakharn
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 Govemors Chairrnan Mr D Pattinson Name Committee membershi Ex-officio The Bishop of Peterborough The Dean of Pelerborough The Patron, Ms C Johnson The Re¢lor of Luffenham The Rector ol Uppingham The Vicar ol Oakham Ex-officio a oinlees on beh81f of.. Mr D Cook on behalf of the Bishop ol Peterborough Mrs J Mayhew on behalf of Reclof of Luffenham Rev D Smith.Wilds on behalf ol Rector of Uppingham lunlil July 20231 Mrs S Taylof on behalf ol the Dean of Pelerborough lunlil February 20241 Rev S Aley on behalf of the Vicar ol Oakham Mr G Thompson lappoinled February 20241 h Diocesan Boar of Fin ncea Finance & GP House, Property House House {Chairl. Property Finance & GP Pelerboiou Mr R Smith Mr D Paltinson Mrv Harvey Dintees". Property (Chairl Finance & GP, Propety House, Property Co-o led.. Mrs A Whillinglon Mrs S Spilner lunlil July 20231 Dr K Grèenwood Mr D Johnson Mr M Reihill lappoinled August 20231 Mts R Gilbert (appointed August 20231 Mrs C Davies lappointed February 20241 House House Ichairl House Finance & GP (Chairl, Propety Property House Finanee & GP Offlcers: CEO Finanee Officer Housekeeper Office Manager Propety Services Manager Residents Support Worker Doreen Woodward Caroline Tradewell Jill Spence Katie AyreslLinda Connelly Donald Mcclellanij Vanetia Porter (resigned March 2024}
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 OBJECTIVES 88sed on the terms of the original Iicence for the foundation of the Hospital dated 21 May 1399 and the Royal Charter granted by Queen Elizab8lh I 1597 {and amended in 19761 the Ch8rity's purpose is to provide accommodation for almspeople who shall be poor persons resident al the lime of appointment in the District of Rulland or elsewhere in England. The Govemors review annually the strategic elements which they consider appropriate for pursuing the above charitable purpose,. during the yeai under review they re-confirmed a slrale9y summarised as follows.. 11 We are a Rulland charity. 21 Our aim is lo provide good quality and well-mainlained accommodation, and an environment suitable for retired people who c?nnol afford their own home, lo lead Independent lives for as long as possible. 31 We value community and conlinuily for our residents and for ourselves. 41 We work with olhefs who share our objectives. 51 We look lo the long-leirn health ol the Charity. 61 Our priority theme lor 2024 is lo continue lo improve the suitability of our properties. PUBLIC BENEFIT The Governors have due regard lo the Charity Commission's 9uidance on public benefit. They believe that the Charity provides a public benefit by the provision within the County of accommodation for older people of limited means. which enables them lo be able lo live independently. STRUCTURE, GOVERNANCE AND MANAGEMENT The Hospital of Sl John the Evangelist and Sl Anne in Okeham is a body corporate Iby virtue ol the 1597 Royal Charter) with a GDverning Body and staff. THE GOVERNING BODY The Governing Body is made up of 15 members- the Patron {being a descendant of Archdeacon Johnson. the pelilioner for the 1597 Royal Charter},' 5 ex-officio Governors Ibein9 persons holding specific offices in the Diocese of Pelerborough and in certain Rulland parishes)," 3 Governors appointed by the Pelerborough Diocesan Board of Finance," and 5 co.opted Governors. In 2011 provision was made by Supplemental Charter for any ex-officio Governors who so wish lo appoint. subject lo Governing Body agreement an appropriate person to represent him or her al meetings of the Governing Body,. currently 5 ex-officio Governor5 are represented by such an appoinlmenl. The Governing Body meets 4 limes a year.. in addition, there are 3 committees (House. Property. and Finance & General Purposes). Also, from lime-lo-lime ad hoc working groups are formed lo address specific topics. The Governing Body is conscioLJS of the need lo maintain, as fai as possible. a matrix ol skills and life experience combined with conlinuily ol appoinlmenl. To Ihis end Governors approve from lime-to-lime 8rrangemenls for persons who are willing lo become full governors when a vacancy arises lo attend and participate on a non-voling basis as 'governors-in-wailing'. This is an irnportanl aspect of Ihe induelion process and ensures an understanding of the Charity is acquired before becoming a lull governor. The Charity's induction procedures ensure that prospective governors are made aware ol Ihe responsibilities of being a governor. The Charity uses local media, such as Rulland Living magazine and paiish newslellers, as well as local knowledge in recruiting prospective governors from the Rulland community.
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT (CONTINUED FOR THE PERIOD ENDED 31 MARCH 2024 THE CEO AND STAFF As well as the Chief Executive Officer ol the Charity Ihere are five other Staff members employed to undertake finance. propety, and support functions. There is also a Housekeeper, employed on a part lime basis, to ensure all communal areas are clean and tidy. The Governors approve remuneration levels designed to enable the Charity lo recruit and relain the skilled staff needed lo manage, sUPPOrt, and deliver ils aims. Tne Charity has a policy ol paying al least the Real Living Wage. Remuner81ion is adjusted annually in line with CPI rates in the September of that year. OUT-SOURGED PROFESSIONAL SERVICES. The Charity has outsourced certain seNices, as follows., Property and Estates Management - Nollingham Communty Housing Association. Investment Management - Evelyn Partners Investmenl Management, Payroll Services- Price Bailey LLP, HR Support- HR Depl
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 PRINCIPAL ACTIVITY- BENEFICIARIES & OCCUPANCY The Charity provides almshouse accommodation and grounds al two siles in Oakham (South Slreel and Sl Anne's Closel and one in Uppingham (Johnson Road}. 11 seeks to maintain the accommodation and ils ground5 in a good slate ol repair. 11 provides housing support services lo older people ol slate retirement age who are experiencing financial, housing or social needs and who can live In independent accommodation. BENEFICIARIES. As al the end of the financial year there were 117 beneficiaries144 male, 73 female) occupying the 103 properties. Currently the younge51 beneficiary is 59 years of age. whilst the eldest 15 97 years of age. The age distribution al each sile is shown in the graph below.. Average Age of Beneficiaries by Site 2023-24 South Street St Anne'5 C105e Uppin8ham 79.4 79.6 79.8 80 80.2 80.4 80.6 80.8 81.2 The current avera9e age of all beneficiaries combined is 80.1 years. which is an increase on thè figure for last year178.51. Comparing the available evidence lor previous years, the trends of recelll years are changing slightly, with the average age increasing 81 all 3 sites." South Street179 10 80 years), St Anne's Close180 10 81 years) and Uppingham177 10 80 yeaisl.
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT {CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 PRINCIPAL ACTIVITY- BENEFICIARIES Icontlnuedl Average AEe of Beneficiaries: Annual Trends by Site 82 80 78 76 74 72 2015 2016 2017 South sireet St Anne's Close 2018 2019 2020 Uppingham 2021 2022 2023 2024 2013 2014 Ave A8e Resid nl Movemen durin In 2023-24, 4 resi(Jents moved on lo accommodation elsewhere (this compares lo 6 the previous yearl. Of Ihe5e'. the ear 3 required nursing or residenb.al care 1 Iransfefred to another SJSA property During the year, 4 beneficiaries passed away15 in 2022-231. 12 new residents were appointed as qualified beneficiaries, movin9 1rilo 8 properties during the year112 residents during 2022-231. 01 those.. 8 properties were allocated lo applican15 pVIouslY INing within the County of Rulland. 4 properties were allocated to individLbals who were at risk of homelessness16 in 2022-231", this is a trend thal is happen1ng in the current economic climate.
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 PRINCIPAL ACTIVITY- BENEFICIARIES Icontlnuedl The reasons for any beneficiary seeking 8ccommodalion can be complex and varied, bul the primary rea50n given in each of the 8 cases can be bioken down as follows.. Primary Rea50n for Application Soclal Isolation Inappropiiaie Housin8 Risk ol Homelessness To be near to farnily A licalions Received durin the ear During the year a total 0138 applications were received in 2023-24143 In 2022-231. The subject of the applications processed can be further broken down as follows". Single females Single males Couples 20 Of the 38 applicants.. 10 were rejected as failing lo meet basic eligibility criteria. lage, wealth. geography, elcl. 1 withdrew their application. As 51aled above, the Charity was able lo satisfy 8 applications during the past year lor 12 peope. The Charity re-assesses the needs of all outstanding applications as and when any vacancy arise5,' the lacl ol being on the wailing list does rTrol in itself amount lo a promise ot a future appoinlmenl, il is the person in the most need al the lime of the available a¢cDmmodalion.
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 PRINCIPAL ACTIVITY- BENEFICIARIES & OCCUPANCY {contlnued} OCCUPANCY The continued desire that the Charity use available void periods lo undertake any significant felurbishment and upgrade work necessary to improve the quality of the properties, is a policy introduced in 2017 and remains the operational approach. The occupancy level target, as stated in the 2022123 operational objectives land thus that used as the b8SIS ol the 2023124 budget) was 950/D. The actual occupancy rale lor the 2023124 financial year was 98%, so we exceeded this iarget. The average re-lel lime for a vacant property across the full year was 62 days12022-23.. 25 days)., this wa5 higher fi9ure due lo major refurbishrnents works required and some shortages in contractor availability. The number of re-lets as a percentage of stock was 7.770A12022_23'. 9.7 OAI. PRINCIPAL ACTIVITY- ALMSHOUSE PROPERTIES The portfolio consists of 103 almshouse properties as follows.. 42 properties William Dalby House David Royce House Brook Road South Street 12 flats 23 flats 7 bungalows St Anne's Close 28 properties Uppingham 33 propertie$ Bonner House Taylor House Johnson Road 12 flats 12flals 9 bungalows In addition lo the almshouse accommodation, the Charity also maintains a heritage asset. a 14th century Chapel al St Anne's Close. 10-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 ACHIEVEMENTS Summ 2024 has been a more typical year. returning lo normal, post covid. This is reflected in beneficiary changes. both in respect tsl beneficiaries moving on to allernalive accommodation, and new beneficiaries arriving. Void periods increased lo 62 days, due lo a high proportion of voids requiring major refurbishment and also shortages in contractor availability. There has been an increased volume of applications, and a continued high level of applicants al risk of homelessness or with challenging circumstances. Completing improvements works in void periods contillues lo be challenging. However, the charity has almost full occupancy and a wailing list. Durin9 the year we have very satisfactorily completed the reuuitmenl of 8 new experienced CEO, following the retirement of the previous CEO al the end of the last financial year in 2023. The charity remains well placed n key resource areas of property, staff, governor5 and finance, making il well able lo meel its objectives now and in the future. The charity continues lo operate with a minimum 5-year perspective and is suff5cienlly resourced to consider expansion, should the opportunity arise. Suildin s /Sile Develo ment.. During the year.. Following the adoption of an improved propety refurbishments specification in 2017, progress towards meeting these higher aspiralions has continued Ihioughoul the year, as and when opportunity ha5 presented ilsell. The availability of resources, both labour and materials. have proven lo be problematic, 8nd there has been a notable inerease in the cost of such works. Generally. the required work is disruptive, ol the type that is not practical whilst the property is occupied, and undoubtedly extends the length of time a vacant propety needs lo be Classified as a void. Pro9ress since the commencement of the project is as follows, with the lolal number ol completions to the improved specification as al the end of each financial year being.. 2023124 7 refurbishments completed 2022123 8 refurbi5hmenls completed 2021122 20 refurbishments completed 2020121 16 refurbishments completed 2019120 12 refurbishments completed 2018119 8 refurbishments completed 2017118 4 refurbishments completed The continuation of a programme lo install level access showers into all properties continues, as vac8ncies permit. Currently 911103 have been complelec$1901103 20221231. A5 such the target of 2 that was identified al the start of the year was not achieved, bul il is becoming increasingly difficult lo complete the programme simply by wailing for voids that require this upgrade lo occur. Some flats have been upgraded with a resident in silu, where the occupant was happy lor this lo occur.
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 ACHIEVEMENTS (contlnuedl All of the SJSA properties now have a current Energy Performance Certificates IEPCI rating. Of the 103 properties, 83 are currently rated as "C" or above. All of the remaining 20, (which include 9 of the 16 bungalows) are raled 'D The conlinualion of a programme of installing combi-boilers into propertie5, in order to better manage water safety (Legionellosis Risk Assessment report 2016}. It should be noted that this approach is not appropriate lor Taylor House (Uppinghaml gr William Dalby House Ioakhaml as they are both supplied by communal boilers, and as such, the project will be completed on achieving 79 installations. The total number of Inslallalions so far completed al the end of the financial year is., 2023124 48179 properties installed with a combi-syslem 2022123 47179 properties installed with a combi-system The programme of fully replacing the flooring within all upper flals al Sl Anne's Close, a problem first accurately diagnosed in the last quinquennial inspection continues. bul np further properties became vacant this year lo allow any more lo be cornpleled. Currenlly 8 oul 0114 properties have so far received such attention. The Taylor House lire doors were replaced following fecommendalions from the fire safety inspection. New carpeting on stairs, corridors and communal areas was completed al William Dalby House and David Royce House Quotes were soughl for roof repairslimprovements al Brooke Road. The installation of an electric vehiele charger point at Talyor House. Completion of an independent quinquennial sutvey of the St Annes Close sile. 12
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 ACHIEVEMENTS Icontlnuedl Number Cost and Cale of NCHA Re air re uesls 2023124 No. of lobs 13 44 Delivered on Time Delivered onTime 75% 76% 86% 91% 63% 75% Delivered on nme 91% 78% 73% 90% 74% NIA DelNered on fime Job Classification Emergency Relet Urgent Routine Target 24 hour5 69% 73% 59% 80% 91% 77% i¢)0% 95% 84% 98% 75% 7 days 28 Days 180 days Appt 97 84 35 79 Planned works Servicing Tota15 352 73% 78% 80% The table above provides details ol the type of lobs undertaken, as well as the performance against the agreed"respDnse lime standards. The lolal value of the Work is £153.2201£207,629 in 20221231. The Charity recognises that internal changes and with their own contracts had an impact on the ability of NCHA to deliver services within the agreed timescales in previous years, bul that service shoul($ now return lo normal. The appointment by SJSA ol a Property Services Manager in early 2019 has enabled the Charity lo have greater involvement in the managemenl of resident expectations in resp&cl of the repairs Service and lo maintain a closer overview ol the services that are being delivered. During 2023124 a sample survey comprising 760A ol completed repairs returned a satisfaction rale of 97 /012022123'. 88°kn1. A lolal of 161 repairs were recorded12022123' 196). of which 75 were rouled through the airangemenl wllh NCHA12022123.' 1161. Those placed by SJSA direct with a conlraclor. if measured against the same response limes. would have recorded a 100% for completion on time. Residents Satisfaction Surve The Residents Salislaclion Survey conducted provides the most accurate evidence of how the responsive repairs seNice is perceived by Ihtsse il impacts on most. The recorded satisfaction level, al 100Q/o, compares favourably with the 940/0 recorded in the previous survey 012021. The nexl survey in 2024. aligned with the 'Tenanl Salislaclion Measures. standard inlroduced by the Regul8lor of Social Housing. The survey metrics recorded 949kn overall salisfaclion, 950h satisfied they have a well-mainlained home. 969h of residents feel safe in their home, 92Q/o of residents fell the charity was easy lo deal with, wilh 900h feeling they were Irealed fairly and with respect. This will now be an annual survey so a good comparison can be drawn of satisfaction trends going forward. 13-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT (CONTINUED FOR THE PERIOD ENDED 31 MARCH 2024 ACHIEVEMENTS Icontinuedl Su ort Services.. In addition lo the provision gf housing and propety maintenance. the Charity holds the belief that in delivering its strategic objeolive no 2, to enable beneliciaries to lead "independent Iiv6s for as long as possible~ it is important that consideration be gNen lo meeting their various and individual support needs. In response lo national and local changes lo both the funding and delivery of health and social seNices. the Charity has in recent years continued to consider il appropriate that il should increase ils own efforts lo deliver effective housing-related support. This has proven lo be the correct approach over the past 12 months, as beneficiaries have encountered difficulties in securing other forms ol health and social seNices support. At the current lime SJSA support services are primarily through.. 1. Telecare Support All properties are covered by a Community Lifeline service delivered by Harborough 8orou9h Council {Harborough Lifelinel, and which is fully funded by SJ&SA, regardless of the financial silualion of the individual beneficiary. During the year Harborough Lifeline handled a lolal of 4,263 SJ&SA generated ealls13,774 in 20221231. This tfaffic included 36 health I fall type emergency calls 129 in 20221231. The response tirnes for a11 calls are monitored and reported on annually, and can be mea5Ufed against the Quality Standards Framework fequiremen15. as published by TSA Ipreviously Telecare Services Association}. Call An wers Slalislics 2023124- AII SJSA Pr erties (CePtre firne L* Call Atteptanct Time Barth (5) 89.370A answered within 60 seconds191.870fi 20221231 97.04QA answered within 180 seconds {97.99Vk - 20221231 14-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 ACHIEVEMENTS Icontlnuedl Overall, these reported response limes do continue lo give assurance that our beneficiaries receive an effective and etlicient service from Harborough Lifeline In addition lo the reactive type of lele-support provision detailed above, each beneficiary is also offer&d the option lo use a pro-active service provided by Alert8C811, commonly known within SJ&SA as the Okay- each-day service. We were pleased to note that during 2022 this service received the Queens Award for Enterprise lor innovation. Last yeai. the Alertacall provision was up9r8ded from a telephone faCiltY lo a new lablel-based servi. This offers a number ol immediate benefits, improving the capability ol SJSA lo communicate with n(lividual or groups of beneficiaries. and providing a single roule for the reporting ol repairs that is available lo all beneficiaries 24 hours a day. Al the same time, this service was made an integral part ol the housing package provided, anLI il has now been possible lo sign all residents up lo the Okay-e8Gh- day service. During the year there were 109 occasions, when the service contacted a named respon¢Jer due lo an individual not logging in1161 in 2022-231. The service also made 75 contacts lo local hospital seNices lo monitor the discharge arrangement lor a beneficiary 1106 in 2022-231. In acldilDn, there were 188 occasions when this service initiated a repair request on behalf of a residenl1100 in 2022-231., this has increased significantly since the introduction of the tablets, which facililale the reporting ol repair5 lor beneficiaries. The Alertacall service also enables information message5 to be delivered electronically lo groups of beneficiaries or individuals. In lolal 218 different messages have been delivered during the year {58 in 2022-231. The resident leedback conducted in 2024 would suggest that both services are well regarded by those who use them. 2. Personal support The Charity is very conscious of the role that effeclive housing related SUPPDrt has in enabling beneficiaries lo continue lo live independent lives. As such SJ&SA employs a full lime Resident Welfare & Benefits Advisor in order lo beller meet the needs ol the resident group. Although accessible by all, lr8dilionally the Resident Advisor resource has been focussed on the ffftilesl 200k ol our population. Covid rneanl that more contacts were made lo signilic3nlly more beneficiaries, some requiring the adoption ol new approaches, a5 the Charity allempled lo offer adequate support lo all throughout the pandemic. That increased level ol support remains. The work ol the Resident Advisor has over the past twelve months successfully delivered 30 benefits reviews128 in 20221231, 7 Blue Badge applications126 in 20221231 and 14 Occupational Therapy referrals 115 in 2022123} The SJSA support service was successful in assisting over 20 different beneficiaries lo claim a significant amount in new "benefit income. during the year. This continues lo demonslrale the positive outcome achievable from active housing supptsrt. 15-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 ACHIEVEMENTS Icontlnuedl involv8menl.' The Charity MaInS firm in its desire lo wnsider the wishes and opinions ot ils beneficiaries, particularly in those decisions that directly impact on their day-to-day living. This is achieved through.. The quarterly publication of Thp Jigsaw. a newsletter di51ribuled lo all beneficiaries. The publication ol an Annual Report lo Residents. Governorlbeneficiary forums al le8sI lce a year. Quarterly Resident Consullalion Panel meetings. The Consultation Panel is made up of representatives from each of the ChaTity'S Sites. In 2024 the Charity commissioned an independently conducted Resident Satisfaction Survey. This indicated a high level of resident salisfaclion levels across a lange ol measures Ihal included the industry accepted standard "Housemart" questions The nexl independent Resident Satisfaction Survey will take place in 2025. Rec n & Coiilllltsi The Charity is also conscious ol the need to raise awJrenesswilhin the wider cor,- .Illry. and to contribute to the welitieing ol the community beyond iiits iliiinediale beneficiary group. During the past e1ve mor, this has been achieved by.. The Charity is a member of the Almshouse Association. The Charity is also a member of SPBM (Smaller Housing Providers Benchmarking Group). As part ol ils desire lo raise awareness within the wider community. and lo support other organisalions that share our objectives, the Charity has made ils resources available to a range ol external organisalions. These include.. Age UK (Carers Support Group, Veterans group, Mostly Men Club), Oakham in Bloom Steering Group, Co-op Ladies Group, The Trefoil Guild, the Oakh8m Canal Trust projeGI, and the Baptist Chur¢h Sunday School. The Charity continues to work cooperatively with Rulland County Council so as lo ensure that our partnership arrangements WOTk effeclivety. FUTURE PLANS To assess any opportunities for potential development or incremental expansion where possible. To improve the onergy efficiency ol our housing portfolio by commissioning an environmental survey lo assist with the development of an energy efficiency policy, intended lo guide future decision making. This will indude.. the evaluation ol the thermal performance of existing building fabric.
a survey of exisling plant rooms. the survey ol associated land parcels for potential use as Ground Source Heal Pump locations. Suggest ways we can improve energy efficiency going forward. 16
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 FUTURE PLANS {continuedl Continue lo apply the accommodation slandards identified in the 2016117 Functional Suitability Study into refurbishmenl work as properties become vaoanl Ilargel 4 per annuml. Continue lo implement the policy around accessibility standards I leve1 access showers, as vacancies permit Ilargel 2 per annuml. Upgrade our emefgency lele-care response systems lo (Sigilal system5 in line with the B T move away from analogue phone lines and explore the use of additional technology that may benefit our iesidenls. To replace the roofs of 4 adjoining bungalows al Johnson Road. These are the most urgent, bul a programme lo replace all the roofs al Johnson Road is planned over the next 2-3 years. Completion of an independent quinquennial survey ol all properties. This began In 2023-24 with the Uppingham inspections, and the completion of the Oakham siles inspections is planned for 2024- 25. Review and upgrade our website and social media profile lo ensure more people know about what we offer and the impact lo the people living with us of the support they gain in our community b£sed independent homes. The condition of all properties falling vacant will continue lo be addressed before re-lelling. VALUE FOR MONEY STATEMENT 2023-24 The formal ol this year's slalemenl rèflects the publication in April 2018 of the Regulator of Social Housing's Valu6 for Money Standard for RegiSted Providers. Metrics Specifigd by the règulator Outcome 2023124 0.5° Outcome 2022123 Metric 1.. Reinveslmenl O Metric 28.. New Supply (Social Housing Unilsl O NIL NIL Metric 2b'. New Supply (Non-social HoLtsing Unilsl % NIL NIL Metric 3". 111.760hl 13. 16Qknl Metric 4.. EBITDA Imaior Repairs Included) Interest Cover Vo 1,881% 1.719¥0 Metric 5". Headline Social Housing Cost per Unit £8,139 £7,619 Metric 6A.. Operating Margin (social housing letlings only) 19.51bknl Melric68" Operating Margin loveralll • 10.5V/o 10.2¥o Metric 7.. Return on Capital Employed O o.eo 0.50/0
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 FINANCIAL REVIEW In the year to 31 Mah 2024, the Charity's finances benefiled from a positive outcome on nel incoming resources, of some £96,05812023." £63,374). and from a 98in on inveslrnenl valuations of £562,64412023.' loss or £311.7141. As a result, balance sheet total funds have increased lo some £12.3 million12023.. £11.6 million), within which eash and cash-equivalenls cornprise some È1.1 million12023.. £1.0 million). Investments and investment performance are dealt with in more detail below. Much of Ihe Charity's expenditure on operational propeeS 15 now accounted for as additions to fixed assets. These amounled to £38,010 in the year 12023.. £283.5691. These costs and plans for lulure years are significantly affected by the Governors, strategic decision not simply lo replace operational property assets on a like-lor-like basis as and when they reach the end of their economically useful Iiv8s. bul to focus on any available improvements better suited to the Charity's objective of providing accommodation suitable for residents to live independently for as long as possible. The Governors, approach lo financin9 these costs and plans is dealt with further below in the paragraphs on Reserves and Reserves Policy. Investments and Investment performance The Charity holds investments on account of Permanent Endowment, Restricted and Designated Funds, the investments being spread over farmland, listed investments and cash. The investment management objectives are that". the Charity shoul(5. over the long term, receive regular investment income sufficient lo ensure that il can continue ils charitable activities at least al their present level and with lull allenlion lo the need for maintenance and Tepair of operational properties., the Charity should maintain sulficienl liquidity in ils inveslrnent and cash assets lo be confident al any one lime ol meeting its cash flow needs for the subsequent year", whilst pijrsuing these income and liquidity objectives, management of the Charity's investments should. so far as possible. maintain or erihance the value of the Charity's permanent endowment and other investments. In pursuing the above objectives, the Charty maintains a direct inve51menl in famland." maintains assets in cash and in equity-based investments (managed by CCLAI in respect of ils Restriclecs Reserves., and has arranged for the permanent endowment listed inveslrnenl portfolio to be man8ged on a discfelionary basis by Evelyn Partners Investment Managers, within a framework ol ethieal investment criteria {adopled from those published for the Chufch of England) and a willingness to be exposed lo a medium level ol market risk. In ielation lo the investment income objective and the portfolio man8ged by Evelyn, the Governors sel 8 lar9el of £120,000 before fees for investment inwme in the year. Income received of £128,518 12023.. £126,345) exceeded this laigel. Tether with farmland and other investment income, total investment income in the year was £175,381 12023". £150,781) before investment management costs of £24.19212023.' £23,710). In relation lo the liquidity objective there was no call during the year lo sell or re-allocate investments in order lo make 8n extra contribulion to liquidity needs. 18
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT (CONTINUED FOR THE PERIOD ENDED 31 MARCH 2024 FINANCIAL REVIEW Icontlnuedl Investments and investment performance Icontlnuedl As lo Ihe objective relatin9 to capital values, on 31 March 2024 the balance sheet lolal for investments was £6,040,14212023. £5,937, 1771. The large majority of thi5 value is in assets which are independently valued al the year end", lor one Category of investment the lafmland - the Governors. practice is to obtain a professional valualion every Ihfee years, as such a fresh valuation was obtained in 2022, with the next one due in 2025. Re$erves and Reserves Pollcy Al the year end the lolal funds held by the Charity were some £12.31 million, made up of.. £ million 10.79 0.48 0.48 0.56 12.31 Endowment funds Reslricled funds Urireslricled designated funds Unreslricled general funds The Endowment Funds are the permanent capital of the Charity. On the asset side ol the balance sheet, they are represented by.. Operational properties held for the lon9 term". Inveslmenls. the income from which is available lo subsidise operating costs, bul the capital value of which is not expendable except with the consent of the Charity Commission. The Re51ricled funds are also not available for expenditure. Formally they represent a Recouprnenl Fund set up in two stages, firstly when the Charity expended capital towards the cost ol the South Street, Oakham. flats in 1976, and secondly when capital was expended on the first development al Uppingham in 1980. In both cases, the Charity was required by the Charity Commission lo sel aside an annual sum of £602 over sixty years lo recoup this capil21. Vvhen that term expires, the capital ol the recoupmenl fund will be added lo the Permanent Endowment inveslmenls. By conlrasl, Unreslficled funds are available for expenditure al Governors. discretion in pursuit of the Charily's purposes. Within this Category there are tsvo sub-categories one where the Governors have 'designaled' or earmarked funds lor one or more particular future purposes. and General funds which have not been so ear-marked. Al the year end the Designated funds of £481.283 comprised an Exliaoréinary Repairs Reserve of £382.303 and a Cyclical Maintenance Reserve of £98,980. The Extraordinary Repairs Reserve is used lo enable major propety expenditure lo be planned over a 5-year timescale. having regard lo any need lor funding above the level ol ¢ashflow generated by almshouse operations and investment income B85ed on this approach a Iransler of £16,542 h8s been made in these accounts lo the Extraordinary Repairs Reserve from the General Reserve, leaving a balance of £382,303 12023.. £365.7611 which suffices, bul is not excessive, having regard lo current plans lor the next 5 years A second designated ieserve (for Cyclic81 Maintenance) is maintained lo fund lesser, periodic, planned repair5 2nd maintenance and is funded by an annual transfer from the income ol the Charity. TDlal expenditure in the year of £113,16412023.' £115,099) was less than the annual transfer of £116,54212023.' £112,37118nd the balance therefore increased to £98.98012J23". £95,602). 19
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT {CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 FINANCIAL REVIEW Icontlnuedl Investmgnts and investmenl porfomiance {continued} The General Unrestricted funds represent the accumulated balance to dale of the income ol the Charity after meeting all almshouse, management and other running costs and transfers lo the Cyclical Maintenance and Extraordinary Repair reserves. In common with other charities, the Charity needs lo maintain a balance on such General Reserves in order lo ensure that, in the event of any abrupt or unlor&seen worsening in the Charity's operating finances, the Charity can continue ils aclivilies for a sufficient period ol lime to be able lo recover andlor find a new basis of financing ils aclivilies. The relevant annual ¢ost for the Charity is now running al a level of approxifflale1y £0.69 million p.a. Ilolal resources excluding depreciation which Is not a 'cash cosl'l". the Unreslricled General Reserve al 31 March 2024 (£559,895) Iheiefore suffices lor some 9.75 months, operating 'cash costs,. The Governors consider th81 this is accepiable in eurrenl circumstances. Risk mana The Governors assess from lime lo lime Ihe major risks lo which the Charity is exposed and are satisfied that systems are in place to mitigate exposure lo these. These risks relate lo.. providing and mainlainino a safe and secure environment for our residents and for others who work al or visit the Charity's prernises., providing and maintaining governance, financial and adminislralive arrangements lo safeguard the Charity's assets, to promote ils long-term health and to facilitate ils operational activities. The Charily's rnain slralegy lo address these risks is lil lo review frorn time lo lime the particular areas where such risks may be either mosl likely lo arise or where their impact would be most serious and to devise and Implement particular mitigation plans as appropriate in the light of such review.. and lill al all times and on a continuous basis lo keep under review, and lo report lo Governors. any work necessary lo ensure that the Charity's properties provide a safe and secure environment. In addition. Governors are conscious that the scale and smooth running of the Charity's operations depends to a considerable extent upon governmental regimes, systems and services. Some aspects of the future of these are subject lo signif1cant uncertainty. Governors seek to minimise the risks lo the Charity from such uncertainty by keeping abreast of relevant developments lin particular through the Almshouse Associalionl and by regular review, particulady al the lime of annual budgeting. em nl 20-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM GOVERNORS, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 Statement of Governors, responsibilities The Governors are responsible for preparing the Governors, Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounlino Praclicel. The saw applicable lo charities in England and Wales requires the Governors lo prepare financial statements for each financial period which give a true and fair view of the slate of affairs Df the Charity and of the incomin9 resources and appli¢alion ol resources ol the Charity for that period. In preparing these accoLJnls, the Governors are required lo.. select suitable accounting policies and then apply them consislenlly., observe the methods and principles in the Charities SORP-, make judgements and eslimales that are reasonable and prudent. slate whether applicable accounting standards have been followed, subject lo any material departures disclosed and explained in the accounts., and prepare the accounts on the going concern basis unless il is inappropriate lo presume that the Charity will continue in operation. The Govemors are responsible for keeping sufficient accounting records that disclose wilh reasonable accuracy al any lime the financial position of the Charity and enable them lo ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions ol the governing insliumenls. They are a150 iesponsible lor safeguarding the assets ol the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Governors. report was approved by the Governing Body on .1 ) .4. . % J* D Pallinson Governor R Smith Governor 21
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM INDEPENDENT AUDITOR'S REPORT TO THE GOVERNORS OF THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM We have 8udiled the financial 5talemenlS ol The Hospital of si John the Evangelist and of Sl Anne in Okeham for the period ended 31 March 2024, which comprise the staiement of financial aclivilies, balance sheet, slaternenl of cash flows and notes to the financial statements, includin9 a $uThmary of si9nificani Accountlllg policies. The finanrial porting Irarnewo that h3s been applied in their preparalion is appli¢able18w and United Kingdorn Accounting Standards. including Finanrial Reporting Standard 102 The Fin2ncr81 Reporting Sl8ndard 8pplio8ble lo the LIK 8nd Republic of Ireland (Uniled Kingdom Generally Accepted Accounling Practi1. In our opinion the accounts.. give a irue and fair view of the $18te of the Charity's affairs as at 31 March 2024 and ol ils incoming resources and 8ppli¢8lion of resources, for the period then ended-. have been properly prepared in accordance wilh the United Kingdom Genefally Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis lor opinlon INe conducted our audit in accordance with Inlernalional Standards on Auditing IUKI IISAS (UK)) and applicablè law. Our responsibilities under those 5tsnd8rds are further described In the ALJditDf'S responsibililies for the audit of the finanryal slatemenis section of our report. We are independent OY Ihe Charity in accordan with the elhiral requirernents that are relevant to our audit ol the financial stalemenls in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis lor our opinion. Concluslon5 relating to golng con¢eTn In auditing the financ87 slatemenls, we have concluded that the governors, use of the 90ing concern basis of 8wounling in Ihe prep8iation ol the finan¢ial 5talemenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to evenl$ 01 conditions that, illLlividually or colleclively, may casl 5ignifiGgnl doubl on the charity's ability lo continue as a going concem for a period 01 01 le8St tsvelve rnonths from when the firiancial statements are 8Uthori$et5 lor issue. Our responsibilities and the spOnsIbl11t1¢s of the tfU51ees with fespect to going concern are des¢ribed in the leVant section5 olthis report. Other inf¢m12tion The other information comprises the information induded sn the Governors. annual report, otherthan thefinancial statements and our audilorfs report Iher8on. The Governors are responsible for the other inlormaiion. Our opinion on the financial statements does not cover the oltter infomation and, except to the extent otherwise expli¢illy staled in OLsr report. we do not expres3 any fom ol assurance conclusion thereon. Our responsibility is to read the other infomation ond, in doing so, consider whether the olher infomiation is materially inconsistent wilh the finanaal statements or our knowledge obtained in the course of the audit 01 otherwise appears to be maierially misstated. If we identify such material inconsis18ncies or apparent material misstalemenls. we are required to detemine whether this gives rise to a material misstatement in the financial 5talemenls themselves If, based on the worf( we have performed. we condude thal there Is a material fflisstatement of this olher informalion. we are required to report that facl. We have nothing lo reporl in this regard. Matters on whi¢h we are required to report by excgption We have nothing to report in respect of the lollowng rn8tters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, In otjr opinion.. the inform81ion given in the Governors, report Is InGonsistenl in any material respect with the finanual stslements.. 01 suffiryent accountino rEcords have not been keot.. or the financial statements are nol in a9ement wilh the accounting records and returns.. or we have nol received all the information and explanations we require for our audit. -22-
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 OKEHAM Responsibiliti85 of Governors As explained more fully in the Governor5. responsibilities slalemenl sel out on page 21, the Governors are responsible lor the preparalion olfinancial stalefflenls and for being salisfiecs thal they give a true and faiiview, 8nd for such internal control as the Govemors determine is necessary lo enable the preparation of financial stalements Ihat are ffee frorn malerial misslaternent. whether due to frau¢S Dr error. In prep8ring the fin8n¢ial statements. Ihe Governors are spOnSible for 8sses8ing the Charity's ability to continue as a going nCern. disclosing, as applicable, rnatters related to going concern and using the goin9 concern basis of accounting unless the Governors eilhei intend to liquidate the Charily or to cease operations, 01 have no realistic alt8tn3tive but lo do so. Audltor's responsibilities for the audit of the financlal statements We have been appoinled 8S 8udilor under section 144 01 the Charities Acl 2011 and report in accordance with the Act and rel£vanl regulalions made or having effect Iheieunder. Oui objective5 are 19 obt8in reasonable assuran about whether the financial s18ternent5 as a whole are free frorn material misslalement. whether dLJe lo fraud or error, and to issue an 8uditorfs repori that indudes our opinion. Reasonable assurance is a high level ol assurance, bul is not a guarantee Ihal an audit conducted in 8ccofdance with ISAS IUKI will 8Iw8ys delecl 8 material misstalemenl wheri Il exists. Mis51alementS Can arise from fraud or error and are considered m8lerial if. individually or in the aggiegale, they could 18ason8bly be expected to influern Ihe economic decisions of users taken on the basis ol these financial statements. Irregularities. incluLling fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above, lo dele¢l material mi5Stalemenls in iespecl of Iriegularities. including fraud. The exlent lo which our procedures are capable of delecling irregularilieg, iricluding fraud is detailed below.. In addressing the risk ol fraud through man8gemenl override of controls, leslin9 the approprièleness of journal entiies and other adjustments., Assessing whelher Ihe judgements made in accountin9 estimates are indicative ol 8 potential bias, Evaluating Ihe ralionale of any significanl Iransaclions Ihal are unusual or outside the normal course of business., An81ytiGqI procedures are performed as well as substantive lesling to identify any potential misslalement due 10 fraud," and The audit prtscedures would also involve being aware ol any such items frorn reviewing minules and third party cornmunic2lions and reports and discussions held with slaft and managern2nt lo obtain an understanding. Because of the inherent limitations of an audit, there is a risk Ihal we will nol delect 811 irregularities, including those leading to a material misstalemenl in the financial statements or non-compliance with regulation This risk increases the more Ihal compliance with a law or regulation is removed from Ihe events and transactions reflected in the financial 5talemenls, as we will be les5 likely lo become aware of instances ol non-compliance. The risk Is 8150 greater regarding irregularities occurring due to fraud rather than error, Bs fiaud involves inl8ntional con¢ealment, forgery, collusion. omission or misrepresenlalion. A further descripliDn of our responsibilities lor the audit of the financial statements is localeij on the Financlal Reporting CDuncil's web511e at.. https."IlwvM.frc.org uklOur-WorklAudiVAudil-and-assurancelSlandards-and-guidancelStandard$- nd-guidance-for-aLJditorslAudilors-responsibililies-for-audiVDescriplion-ol-auditors-responsibililies-lor-aud1I aspx.This description foims part of our auditols report.
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 OKEHAM Use ol our report This report is made solely to tre Ch8riWs Govemors, a5 8 body, in accordance with Part 4 of Ihe Charitiès IA¢rA>unts and Reports) Regulations 2008. Our audit woÉk has been undertaken so that we might slate lo the Charity's Govemors those mattels we are required to stale to them in an au¢Jilors' report and for no other purpose. To the fvllest extent permitted by law. we do noi accept or assume responsibslily lo anyone other than the Charily and the Charity's Governors as a body, for our audit work, for this report. or for the opinions we have forrned. ftLEouoLJ QLP Pr1¢¥ Bailey LLP ITr..JLLlq 2024 Chartered Accountants statutory Audltor 36 Tyndall Court Commerce Road Lynchwood Pelerborough Cambridgeshire PE2 6LR Price Bailey LLP 15 eligible lo act as an auditor in term5 of section 1212 of thè Companies A¢1 2006. -24-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 MARCH 2024 Unrestrlcted Restrictgd P•rmanent Total Total funds funds endowmenPerlod ended Year ended funds 2024 2023 Notes Income and endowments f Charitable activities Inveslmenls Other income Donations and legacies 779.631 175.381 3,361 180 779,631 175,381 3,381 180 716.922 150,781 3,792 305 Total Income and endowments 958.572 958,573 871.800 Ex endlture on.. Charitable activities Investment management costs 666,759 24,192 171,564 838,323 24,192 784,716 23,710 Total r8$0urce$ expended 690.951 171,564 862.515 808,426 Nèt lncomlngllotst90ingl resources before before transfers and galnslllossesl on Investments 267,622 1171.5641 96,058 63,374 Net gainslllossesl on investments 59,011 503,633 562.644 1311.7141 N•t Incomlnglloutgoingi resources beforo transfers 267,622 59.011 332,069 658,702 {248.3401 Gross Ifansters between funds 151.5931 602 50,991 Net movement In fund5 216,029 59,613 383,060 658,702 1248,3401 Fund balances at 7 April 2023 825,149 419.192 10,405,302 11,649,643 11,897.983 Fund balances al 31 March 2024 1.041.178 478,805 10.788,362 12.308,345 11,649,643 25-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM BALANCE SHEET AS A T 31 MARCH 2024 31 March 2024 6 Aprll 2023 Note$ Flxed assets Tangible assels Investments 5,563,811 5.937,177 12 13 5.428,182 6,040.142 11.46B,324 11,500,988 Current assets Debtors Cash al bank and in hand 15 53,718 1,085,100 35,960 461,314 1,138,818 497,274 Creditors: amounts falllng due withln one year {155,4231 16 1121,096) Nei current 8Sset5 1,017.72 341,851 12,48e,o 11,842.839 Total assets less current liabllitlO$ CreditOfS'. amounts falling due after more than on¥ year 17 1177.7011 (193,1961 12,308.345 11,649,643 Net a5$ets C•pifal funits Unreslricled funds- general 363,786 559,895 461,363 Unrestricted funds - de$i9nated 21 481.283 1.041,178 825,149 Total unrestricted funds 10,405.302 Endowment funds 22 Including ValUation reserve of £2,323,247 (2023.. £1.822, 141) Rèstricted funds 23 Including revaluation res&N& of £365.31 112023.. £306.300J 10,788,362 419,192 478,805 12,308,345 11,649,643 The financial slatemenls were approved by the Governing Body and authorised for issue on S19ned on its behalf by.. R Smith Governor D Pattinson Govèrnor -26-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 MARCH 2024 31 Mar¢h 2024 6 Apfil 2023 Notes Cash flow from operatlng actlvllles 80,555 184,395 Cash flow from Investing actlvltles Purchase ol tangible fixed assets Investment pur¢hases and disposals Interest income Investment income (net ol investment management costs) 38,0101 141,2701 37,419 1283,5691 186.9461 15,698 113,770 111,373 Net cash flow from Investlng a¢tivltles 71.909 1243,4441 Cash flow from flnanclng a¢livitle5 Repayment Of bank loans Drawdown ol loan Interest paid 113.2951 115,1251 116.3311 115,3401 Net cash flow from flnanclng actlvltlès 129,6261 130,4651 Net In¢ase In cash and cash equlvalonts 122.838 {89,514) Cash and cash equivalents al beginning of year 998,040 1,087,554 Cash and cash equlvalents at end of ygar 1,120,878 998,040 Cash and cash equlvalents conslsts of.. Bank balances and short tèrm dep05115 Investment cash balance5 1.085,100 35,778 461,314 536,726 Cash and cash equlvalenls at end of year 1,120,878 998,040 27-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE STATEMENT OF CASHFLOWS FOR THE PERIOD ENDED 31 MARCH 2024 31 March 2024 6 Aprll 2023 Note5 Note111- Recon¢lllation of net IncomollexpÈndlture} to nel ¢ash flow from operollng aclivltie5 Net Incomlnglloutgolngl resources 96.058 63,374 Adjustments for.. Investment income recogni5ed in statement ol financi81 8Ctivilies Investment management C051s Depreciation and loss oft disposal ol tangible fixed as5els Interest Payable Interest reiVed Decreasellln¢reasel in debtors IDecrea5elllncrease in ¢dItorS 1137.9621 24,192 173,640 16,331 137.4191 117,7581 136,5271 1135,083) 23.710 184,644 15,340 115.6981 17,8601 55,968 Net cash flow from operatlng actlvltles 80.555 184,395 Note Illl - Investment purchJsès and dlsp0581s Purchase ol other inveslmen15 Proceeds on disposal ol other investments 1313,4071 272,137 1655.636} 568,690 141,2701 186.946} Note11111 . Depreciatlon and Impalmi•nt of tangibl• flxed assets Oepreciation and imp8irment of tangible fixed assets Loss on disposal ol tsngible fixed assets 169.046 4,594 158.976 25,668 173,640 184,644 Analysis of changas In net debt Balan¢è at 7 April 2023 Cash flows Other Balancè al non.cash 31 March 2024 mvements Cash Loans due wilhin one ye8r Loans due aftèr one year 461.314 114,7921 1193,1961 623,786 12,2001 15.495 1.085,100 116,9921 1177.701} 253,326 637,081 890.407 -28-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 A¢counling pollcles Charlty Informatlon The Hospital ol Sl John Ihe Evangelist and ol St Anne in Okeham is a Registered Charity and Registered Social Housing Provider that is primarily an endowed Almshouse Charity. 1.1 Accovntlng conventlon The Charity constitutes a public benefit entity as defined by FRS 102. The financial $18lemenls have been prepared in 8c¢oidance with Accounting and Reporting by Chaiilies." Slalemenl of Recomrnended Piaclice applicable lo charities preparing their a¢¢ounls in 8¢cordan¢e with the Financial Reportino Siandard applicable in the UK and Republic ol Ireland issued on October 2019, the Financial Reporting Standard applicable in the United Kingdofn and Republic of Ireland IFRS 1021, the Charities Act 2011 and UK Generally Accepted Accounting Practice. Th8 Charity is a Registered Social Housing Provider. In accordance with the requirements ¢1 the Housing SORP, the Charity has applied the Charities SORP in the preparation of these financial slalements. The account5 have departed from the Charities IA¢¢ounls and Report51 Reoulalions 2008 only to the exlenl required lo provide a true and fair view. Thi5 departure has involved following the Statement ol Rècommended Practice lor charilles applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred lo in the Regulations but which has sin¢e been withdrawn. The accounts are prepared in sterling, which is the functional currency of the Ch8rily. Monetary amounts in these finAncial statements are rounded to the nearest £. The accounts have been prepared on the historical cost convention as modified by the revalLJation of invèslmenls The principal accounting policies adopted are sel out below. 1.2 Going ¢oTrGer Al the lime of approving Ihe accounts, th& Govérnors have a reasonable expectation that the Charity has adequate resources lo ¢onts"nue in operational existence for the foreseeable future. Thus the Governors continue lo Sdopl the going Concern basi5 of accounting in preparing the 3¢Gounls. 1.3 Charltable funds Unre5tri¢ted funds General funds Unrestricted funds are available lor use al the discretion ol the Governors in furtherance ol Iheir charitable objectives unless the funds have been designated lor other purposes. 29-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 A¢¢ountlng pollci$s {contlnuedl Charltable lunds Icontlnuedl Unrestriclod funds Icontlnuedl Desi nated nds The following unrestricted lunds have been designated al the discretion olthe Governors for specific purposes as follows". Extra rdina rè air fund The extraordinary repair fund has been set up lo lund large scale repairs, rènovations and improvements which occur from time to time. C clical maintenance fund The cyclical rnaintenance fund has been Set up lo fund periodic, non annual, rèpairs and maintenance and is funded by an annual transfer based on The Almshouse Association 9uideline fi9ures. Restrlcted fund Recou ment fund The Recoupment fund was set up in stages, firstly when the Charity expended capital towards the cost of the South Street, Oakham flats in 1976, and secondly when capital was expended on Ihe Iiist development al Uppingham in 1980. In btslh cases. the Charity was required by the Charity Commission to sel aside an annu31 sum over sixty years to rècoup this capital. Wnen that tefm expires, the balance on Ihe Reserve will be transferred to the credit of Perrn8nent Endowment and the assets hel¢J on account of the reserve transferred to Fixed A5sel Investments. Office onver ro ec This fund relates lo Social Housing Grant awarded lo lacilitale the development and provision of Affordable Housing The use of the 9r8nt is restricted lo thè delivery ol affordable dwellings pursuant to Homes England, Shared Ownership Affordable Home5 ProgTanime 2016-2021. Permanent endowmènt funds Permanent endowment funds represent the capital of the Charity and are invesled in Operational properties li.e. almshouse residential properties), 18rm5and, listed investmen15 3nd cash. This capilal is not expendable but the income genefated represents unre51ricled income. Incomlng resourc•s Income is recognised when the Charity is legally enlilled lo it. All residents. weekly maintenance contributions are recognised when due and investment income is recognised when receivable. Resources expended Expenditure is recggnised when a legal or ¢onstruclive r)bligation ha5 fallen due. All expenditure is accounted for on an accrua15 basis. All expenses Includin9 governance costs are alloc8led 01 apporiioned to the applicable expenditure headings. Irrecoverable VAT is char9ed as 8 cost againsl the 8Ctivity for which the expenditure was incUrd. -30-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 Accounllng pollcle$ Icontlnuedl 1.6 Tanglble fixed assets Tangible fixed assets are initially measured al cost and subsequently Measu(1 al ¢osl or valuation, nel of depreciation and any impairment losses. Freehold land and houslng propertles Freehold land Is not deprecialed. Depreaalion is charged so as lo write down Ihe cost ol freehold housing properties lo their eslimaled residval value on a stralghl Ilne basi5 over their estimaled useful economic lives al the following annual rates". Main fabri¢ ol buildings Over 100 years Roof Over 70 years Windows and external doors Over 30 years Gas boilers Over 15 years Fire alarm5 and lifeline equipment Over 20 years Bathrooms Over 30 yeais Mechanbcal inslallalions Electrical installations Lifts Kitchtrns Bijggy slore Access rampslsleps Over 30 years Over 40 years Over 20 years Over 20 year5 Over 30 years Over 30 years The gain or loss arising on the disposal ol an asset 15 determined as the difference been the sale proceeds and the ¢arrying value of the asset. and is recognised in the statement of financial activities for the year. Furnlshlngs and equlpment Furnishings and equipment are slated al cost less 8¢cumulated depreciation Oeprecialion is piovided to write off the cost of ass&ls over their expected economic useful lives on a slraighl line basis of either 10 /0 or 25%. Soclal Housing Grant here developments have been financed wholly or partly by Social Housin9 Grant ISHGI, the amounls of the grants received are recognised as incoming resources using Ihe performance model. On the sale of a property, or il an¢)Iher relevant event takes place, SHG may become repayable. although it is norrnally available lo be recycled and used lor 8 new Social Housing project approved by Ihe Hotllos & Communities Agency. The cumulative amount of Social Housing Grant received at 31 March 2024 w85 £3.086,870 16 April 2023.. £3,086,870). 1.7 Investment properties Inve51melll property, which is property held lo earn rentals andlor for capital appreciation, is measured using the fair value model and slated al its fair value al the reporting end date. The surplus or deficit on revalualion is reco9nised in nel inc¢minglloutgoin91 resources for the year. 1.8 Impalrment of flxgd assets Al each reporting end dale, the Governors review the carrying amounts of ils tangible and intan9ible assets lo (Jelerrnine whether there is any indiGalion that those assets have suffered an irnpairmenl loss. If any such indication exists. the recover8ble amount ol the assel is e51irnaled in order lo delerrnine the extent ol the impairment loss lil anyl- 31
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 Ac¢ountlng pollcles Icontlnuedl Impalrment of flxed a$$ots l¢ontlnuedl Recoverable amount is the higher ol fair value less costs lo sell and value in use. In assessing value in use, the estimated future cash flows are dis¢ounled to their present value using 8 pre-tax discount r8le thal r8flecls curfenl market assessments ol the time value of money and the risks specific lo the 8sset for which the eslimates ol future cash flows have not been adjusted. If Ihe rever9ble amount ol an asset is eslimaled to be less than its C8rying amount. the carrying amount ol the 8ssel is reduced lo its recoverable amount. An impaiment 105$ is recogn15ed immedialeSy in incomellexpendilurel lor the year, unless the relevant asset is carried at a revalued amount, in which case the impaimenl loss is treated gs a revalu8lion decrease. Recognised impairment losses are reversed Il, and only il, the reasons lor the irnpairmenl loss have ceased lo apply. Wnere an impairment loss subsequentSy reverses. the carrying amount ol the a5sel is in¢rea5ed to the revised estimate of its recoverable amount. bul SO that the increasèd carrying amount does not exceed the carrying amount that would have been determined had no impairment10ss been Tp¢ognisèd lor the as5Èl In prior years A reversal ol an impairment Ioss Is recognised immedialely. unle55 the relevant asset is carried in 81 a revalued gmounl, in which case Ihe reversal ol the impairment loss is Irèaled as a revaluation increase. Investments Investrnents are reco9nised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently. they are measured at fair value wilh changes recognised in 'nel gainslllossesl on investments, in the Sl8tement ol Financial Activities il Ihe shares are publidy traded or their faiT value can otherwise be measured reliably. Other investments are measured at cosl less impairrn$nt. 1.10 Cash and cash Èqulvalents Cash and cash equivalenls include cash in hand, deposits held al call with banks, other short-tem liquid investments with original maturities of three monlhs or less, bank ovordrafLs and cash held as fixed asset investments. Bank ¢verdrafts are shown within borrgwings in current Iiabililies. 1.11 Flnan¢lal In$trum&nts The Charity only has financi81 assels and financial liabilib.es ol a kind that qualify as b8$ic financial instruments. Basic finanaal instruments are initially recognised al transaction value and subsequently measured al their s$ttlernent value with the exception tsf bank loan5 which are subsequently measured at amortised cost using Ihe effective interesl method 8nd fixed asset investments which are recognised and subsequently measured In accordance with the accounting policy al nole 1 7. 1.12 Employ8e beneflt$ The c05t ol any unusèd holiday entitlement 18 rgcognised in the period in which Ihe employee's service5 are received. Termination benefits are Tecognised immediately as an expense when the Charity is demonstrably committed lo terminate Ihe employment ol an employee or to provide lerminalion benefits. 1.13 Value addèd tax The Charity 15 unable lo reclaim any Value Added Tax IVATI it incurs on its expenditure. This irrecoverabltr tax Is a cost lo the Charity and consequently all figures within these financi81 slalemen15 afe slated in¢lusive of any VAT incurred (unless stated olhetwisel. 1.14 Buslness comblnatlons here acquisitions arè in substance the gifting of control of a busines$ to the Chanly the combinaiion is Irealed as a non-exchange transaction and the lair value ol the gifted assets and liabilities in the transadion IS fecorded as a gain or loss in the slalemenl of financial activities in the year ol combination. -32-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 A¢¢ounllng pollcles Icontlnuedl 1.16 Operatlng lease5 Renlals applicable to operating le8ses where subsequently all ol the benefits and risks ol ownership remain with Ihe lessor are charged lo the slalemenl ol financial activities. 1.16 Major repalr Gosts The Charity capilalises expenditure on housing properties which results in an enhan¢emenl of the economic benefit ol the asset such as an increase in the nel rental stream over Ihe life of the property. An increase in Ihe nel rental slreatll may arise through an increase in nel rental income, a reduction in future maintenance costs, or 8 significant extension ol the useful life ol the pioperty. Expenditure on wgrks which does not meet this criteria is wiitlen off lo the Statement ol Financial Activities in the year in which il is incurred. This includes expenditure incurred lo ensure that the property ¢an maintain ils eX151ing level of net rental income or the s18n($3rd of performance anticipated when e property was first acquired or ¢onslrucled. Crlllcal accountlng estlmat6$ and Juflgement5 In the 8pplicalion of the Charity's accounting policie5, the Governors are required lo make judgement5, estimates and assumptions about the carrying amount of assets and liabilitie5 Ih8t are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experience and other factors Ihal are considered to be relevant. Actual resulls may differ from these eslimales. The eslirnales and underlying a5svmplions are reviewed on an ongoing basis. Revisions lo acoounling estimates are recognised in the period in which the estimate is revised where the revision affeGls only that peno(J, tsr in the period of the revision and luluie peiiods where the revision affects both CL)rrenl and futu periods. Charltable actlvllles 2024 2023 Provision of almshouses - residen15' weekly mainlenance ¢onlribulions 779,631 716.922 Inveslmenls 2024 2023 Rental incomè Incorne frorn listed investments Interest receivable 9.444 128.518 37.419 8,738 126,345 15.698 175.381 150,781
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 Other Income 2024 2023 Common room lels Sundry sile receipts 865 2,518 1,514 2,278 3,381 3,7g2 Analy51s by fund Unrestricted funds Reslri¢ted funds 3,381 3.792 3,381 3,792 Donations and legacles 2024 2023 Donation$ and gifts 180 305 34-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 Charltable a¢llvlt1tr5 Provlslon of Almshouses 2024 2023 Staff costs Depreciation and loss on disposal of fixed assets Day lo day maintenance Cyclical mainlen8nce 231,742 173.640 75.931 113.164 24,897 4.170 768 24,865 55,240 27,706 8,406 70,141 2,639 1,459 198,853 184,644 66,547 115.099 30,867 2.610 662 18,373 57,188 24,674 8,361 51.843 2,472 Window cleaning and materials Support worker expenses Alert8call Charitable bentsfil Landscaping Buildings and conten15 insurance Management Do>or entry system Void properties 814,768 23,555 761,993 Governance costs Isee note 91 22,723 838,323 784,716 Analysls by fund Unreslricled funds Endowment funds 666,759 171564 603,155 181 561 838.323 784.716 Investment managemont costs 2024 2023 Investment management 24,192 23,710 24,192 23.710 35-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 Support costs Gov$rnance Costs 2024 2023 8a51s of allocation Audit lees Interest payable 7,224 16,331 7,224 16,331 7,383 100% charitable a¢tivilie$ 15.340 100¢A chafltable activities 23,555 23,555 22,723 10 Governors None ol the Governors lor any persons connected with them) received any remuneration from the Charity during the year. Two Govemors were reimbursed a total of £149 lor travelling expenses during the year12023.' £3351. -36-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 11 Employèè$ Number of employe9$ The average monthly number of persons employed by the Charity during the year was. 2024 Number 2023 Number CEO Office Manager Property Services Managgr Finance Officer Residents, Support Worker Housekeeper The lull lime equivalent number DI employees re¢elving annual remuneration excluding employer pension conlribLJtions in excess of £60,000 are.. £80,001 lo £70,000 Employment costs 2024 2023 Wage5 and salaries Social security costs Other pension costs 201,146 15,543 15,053 172,958 12.284 13.611 231,742 1g8,853 Rèmunèratlon of key management personnel The remut)eralion of key management personnel is as follows., 2024 2023 Salary Contributions lo pension scheme 57,306 4,420 50.919 3.831 61,726 54,750 -37-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 12 Tanglble fixed assèts Land and bulldings Flxture, flttings and 84uiprn¢nt Total Cost At 7 April 2023 Additions Disposals 8.004,595 37,767 115.4231 65,634 243 16721 8.070.229 38,010 116,0951 At 31 March 2024 8,026,939 65,205 .092.144 Dtrpreciation and Impaimient At 7 April 2023 Dèpfeciation charged in the year Depreciation on disp05als 2.449,081 166,970 {10.8301 57,337 2,07 16721 2.506,418 169,046 113,5021 At 31 March 2024 2.605,221 58,741 2,663.962 Carrylng amount Al 31 March 2024 5.421,718 6.464 5,428,182 At 6 Aprll 2023 5,555,514 8,297 5.563.811 38-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 13 F5xed asset Investments 2024 2023 Listed inve$tmenl$ Faiml8nd Cash and cash equivalenls.. Investment managemenl deposit account COIF dep0511 account . Extraordinary repair lund COIF deposit account- Cy¢lic81 malnlen8n¢e fund 5.289.364 715.000 4.685,451 715,000 35.778 76,517 365,761 94,448 6,040,142 5,937,177 The farmland wa5 valued in March 2022 by Richardson Chartefed Surveyors an inrlependenl professional valuer. The Governors are of the opinion that this revaluation colllinues lo reflect the fair value of the farmland al 31 March 2024. The listed investments are valued al market valuÈ. The Governors consider variability of investment returns on the permanent endowment lo constitute Ihe Charity's major financial risk. This is mitlgated by retaining expert investment managers and having a diversified inveslm8nl portfolio. Movemènts In fixèd 8s5¢1 Investments Cash Shares Farmland Total Cost or valuatlon Al 7 April 2023 Additions Valuation changes Disposals 536,726 4,685.451 313,407 560,117 1269,6111 715.000 5.937,177 313,407 540,192 (750.6341 119,9251 1481.0231 Al 31 March 2024 35,778 5,289,364 715.000 6.040.142 Carrylng amounl Al 31 March 2024 35,778 5,289,364 715,000 6,040.142 Al 6 April 2023 536,726 4.685,451 715,000 5,937,177 The loss on inveslmenl disposals during the year basèd on hislorfc ¢ost was £12.82412023.' gain of £95,666). -39-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 14 Flnanclal In5tTuments 2024 2023 Carrylng amount of flnanclal assets Equity instruments measured at lair valkje le55 impairment 5,289,364 4,685.451 5,289,364 4,685.451 Carrylng amount of flnanclal Ilabllitiès Loans measured al amortised cosl 194.693 207,988 Financlal assets pledged a5 ¢ollateral The loans a secured and somtr carry 8 variable rate ol interesl as described in note 16. The interest payments on these loan5 are therefc>re susceptible to chanoes in Interest rates. The Governors acknowledge these risks, though Ihey 81s0 acknowledge Ih8t the financial impact of any increases in interest Tates will be mili9ated by corresponding increase5 in the performance of their fixed 8sset investment5. 1S Dèbtors 2024 2023 Amounts falling due wlthln one year.. Other debtors Prepayments and accrued income 3.805 49,913 35,960 53.718 35,960 16 Credltors: amounts falllng due wbthin one year 2024 2023 Note5 Loans and overdrafts Trade creditors Other credilors Taxation and social security Accru81s and deferied income 18 16,992 7.670 33 5.235 91.166 14.792 15.092 159 125,380 121,096 155,423 17 Credltors.. amounts falling due after rnore than one year 2024 2023 Notes Loans and overdrafts 177,701 193,196 -40-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 18 Loan5 and overdrafts 2024 2023 Long term housing loans 194,693 207,988 Payable within one ye8r Payable after one year 16,992 177,701 14,792 193,196 Amounts includ8d above which fall due after five years.. Payable by instalmenls 1 D5.840 127,028 The long-lerm housing loans are secured by specific charges on the Charity's housin9 properties. The Charity has loan fa¢ililies with the Norwich and Pelerborough Building Society and Rulland County Council. The loan facilities are secured by specific ch8rges on the Charity's housin9 properties. There are loans with Rutland County Council. One is a fixed rele loan which 15 repayable al a rale of 12° per annum, the olher has a fixed annual capilal repayment with interest calculated at prevailing local govemmenl rales. The remaining loan with the Norwi¢h and PeterbDrough Building Society is repayable al a variable inleresl rale based on LIBOR plus a rnargin 011.25%. subject to a minimum interest rate 014.2%. The two loans oulslanding with Rulland County Coun¢il lolalling £109,84612023'. £110,216} are due lo be fully repaid in 2048 and 2052 respectively. The loan of £67.34612023.' £77.7711 oulslanding with Norwich and Pelerborough Building Society is due lo be fully repaid by 2028. The charity h85 a loan fiom The Almshouse Association repayable ovgr 10 ye81s 101811in9 £17,500 12023.. £20,000) which is repaid in six monthly inslalmenls and due lo be lully repaid in 2031. The loan is interest free and unsecured. 19 Lease Commitments 2024 2023 The future minimum operating lease payments are as follows.. Within one year 8elween one and two years Beeen Nvo and five years 12.221 18,332 12,221 12,221 30,553 41
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 20 Analysls of ngt assets betsen funds Unre$trlcted Oesignated funds funds Re5trlct•d Endowment funds funds Total Fund balances 8131 March 2024 are rÈpresenled by". Tangible fixed assets Investments Current as5Ètsllliabilitie5} Creditors due after one year 8,464 5,421.718 5,561.337 116,9921 1177.701} 5,428,1 B2 6,040,142 1,017,722 1177,7011 478,805 553,431 481,283 559,895 481.283 478,805 10,788,362 12,308,345 21 Oeslgnated funds Balance at 7 Aprll 2023 Transfers Balance at 31 March 2024 Cyclical maintenance fund Extraordinary repairs fund 95,602 365.761 3,378 16.542 98,980 382,303 461,363 19,920 481.283 22 Endowmentfunds Oepr*clatlon and loss on disposal of land and bulldings Revaluatlons Balance at gains and 31 March Ios5e$ 2024 Balance at 7 Aprll 2023 Transfers Permanent endowment fund 10.405.302 1171,5641 50,991 503,633 10,788,362 Trnnslers frtsm general funds of £50,991 include additions to land and buildings and loan Capital repaid durin9 the ypar. -42-
THE HOSPITAL OF ST JOHN THE EVANGELIST AND OF ST ANNE IN OKEHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 23 Restricted funds Increase In value of Income Investments Balance at 31 March 2024 Balance at 7 Apiil 2023 Transfors Recouptnenl fund 419,192 59,011 602 478,805 24 Related parties Durin9 the period, a Iruslee donated a prinlei al 8 value of £130 to the charity. -43-