Charity number. 219318 The French Hospitsl Trustees, Report and Financial Statements for the year ended 30 June 2023 ThÈ French Hospital Cont•nts Page Reference and administr4tive details of the Charity. its Trustees and odvisers Truslees. report Independenl auditofs report on the financial statements Statement of financial activities 3-12 13-16 17 Balance sheet Statement of cash flows 19 Notes to the financial slalements 20-39 The French Hosprtal Referèncè and Administrative Details of thg Charity. its Truslèes and Advisers forthe year ended 30 June 2023 Govemor Directors (Trustees) The Rt Revd and Rt Hon Lord Chartres KCVO DD FSA L J Du Cane. Deputy Govemor G R Rubython, Treasurer E C A Martineau. Secretary C E M Ma￿neaU, Quarterly Committee Chairman Jocash P J Duval Emma, Lady Monson Mrs P C Ouvry-Johns A J Gillett Dr G Fargher N8Ruth ECPLefroy RHOW Directors Inon-TNsteesl J G Ouvry JPAOuvry CKCash J G Letroy C Duval R W Hace (deceased 30 April 20231 The 9th Earl of Radnor The Very Rev, H E C Stapleton Wing Commander D V Duval Mrs E S Leonard Mrs J S Darwin Mrs L Mccarraher MsCESouth Dr T V Murdoch Mrs T A Lelheren A E Duval Mr5 P J Hoffmann-Becking R C Garnier C P D Grellier D l Beeby H L Mallalieu C A M Boileau I W Mackenzie (appointed 1 June 20231 Ouke of Buccleuch and Queensberry, KT, KBE Honorary Director Charty registered number 219318 Principal office 41 La Providence Rochester Kent ME1 INB Page 1 The French Hospitsl Referènce and Administrative Details of the Charity, its Trustees and Advisers {continuedl for the year wded 30 June 2023 Independent auditor Kreston Reeves LLP Chartered Accountants Stslutory Auditor Monlague Place Quayside Chatham Marltime Chatham Kenl ME4 4QU Banker5 The CAF Bank 25 Kings Hill Avenue Kings Hill West Malling ME19 4TA Lloyds TSB Week Street Maidstone ME14 1RW Solicitors Bates Wells & Braithwaite London LLP 10 Queen Street Place London EC4R 18E Chartered Building Surveyor J A Warner Ltd The Joiners Shop The Histofic Dockyard Chatham Kent ME4 4TZ Clerk to the Trustees C H Parker (resigned 7 October 20221 D Coward (appointed 9 January 20231 Chaplain Rev B Beckhelling {appoinled 1 August 20221 Steward J Corrigan Investment Manager Cazenove Capital 1 Lor¢don Wall Place London EC2Y SAU Investment Manager Brewn Dolphin Ltd 12 Smithfield Street London EC1A 9BD Head of Engage￿￿Trt and Deputy Clerk Mrs N Tegg Page 2 The French Hospital Trustees, Report for the year ended 30 June 2023 The Trustees present their annual report together with the audited finanual statements of the Charity for the year from l July 2022 to 30 June 2023. The Trustees would like lo take the opportunity to thank the staff. volunteers, and supporters of The French Hospitsl for all their significant efforts over the last 12 months, particularly when dealing with the challenges after those of Covid-19 presented by the cosl-of-living crisis. Objectivès and activities a. Policies and objectives The objects of the Charity are, for the public beneffit-. the relief of povety or any other charitable need by the provision of housing accommodation for Beneficiaries.. Charitable purposes to benefit of 8eneficiaTies decided on by Govemor and Directors., liiil lo advance education by the preseNation and display of items ¢onnected wth the history of the French Protestant Community (Huguenotsl in England from the sixteenth cenfvry onwards, in particular through the establishment, support and maintenance of.. a libiary and archive (including genealogical records related to the Hospitsl),. and a museum or gallery. Beneficiaries means any person residenl in Great Britain requiring assistance due to age, ill health or poverty. or other misfortune giving rise to a charitsble need. Primary Beneficiafies shall be.. such persons being Our Subjects as the said Governor and Directors shall be reasonably satisfied are French Protestants {Hugueno151 or their descendants or the spouse, relict Of civil partner of any such person {itTespectsve of whether or not such spouse, relict or civil partner is themselves a French Protestant IHuguenotl lor a descendent thereof) and is in need of assistance due to age, ill health. financial need oi other misfortune giving rise lo a charitable need. Reliel of need is given by th¢ provssion of sheltered almshouse aGGOFnmodation, for Nvhich residents, Contributions and utilities Contributions are charged. The Charity's aim is to provide quality almshouse accommodation that enables and PTolongs independent living, encourages involvement in the wider neighbourhood and actively reduces loneliness and isolalion by facilitating and encouraging a wde range of community activities. The Trustees have complied wlh their duty under Part 4, Chapter 1 ofthe Charities Act 201110 have due regard to public benefit guidance published by the Charity Commission. They have considered this guidance in deciding what activities the Charity should undertake, and they are satisfied that the Charity confers a public benefit. They have followed this guidance both when reviewing the Charity's policies and objectives for the yeai, and when planning for both the immediate and long-teim luture. Achievements and perfomiance a. Review of activities Core activities The Charity has continued to maintain 59 self-contained, sheltered flats, of which 5712022.. 57) are available to residents, with ancillary se)vices al La Providence, Rochester, Kent. An average of 66 residents were provided wth accommodatson during the year. Page 3 The French Hospital Tru5tees' Report Icontinuedl for thè year ended 30 June 2023 Achievements and perfomiance {continuedl Repairs and maintenance expenditure at La Providence amounted to £276,605 in the year12022.' £104,648), an increase mainly caused by boiler works. and increased Suryeyor activity and fees during quir¢quennial reftjrbishmenl of The French Hospital. Income trom listed investments increased lo £123,372, from the previous year's figure 01 £96,288. There was an overall defficil, before transfers and investment losses In the year of £63,38512022.' surplus of £106,200). Donations and legacies income received in the year amounted to £39,194 {2022.. £55,183). Followng the revaluation of investment assets. the Charity made a gain of £35,90512022'. Ioss of£395,761}. Totsl reserves, al 30 June 2023, were £5,395,08912022'. £5,422,569}. Huguenot Museum The Huguenot Museum leases from The French Hospital at a commercial rent those parts of No 95 High Streel that it occupies. The Museum is paid by The French Hospital for its management of the Hospital's collections and archives. b. Investment policy and perfom)an¢e The Trustees have updated and approved the Charity's Investment Policy, in a¢cordan¢e with the Charity Commission's guidance ICC141. The performance and suitability of the Charty's investments are reviewed by the Trustees al all meetings of the Court. The principal objective for the Trustees is lo invest in funds to maximise total return without placing al undue risk the capital value of the investments. Funds are invested wth Cazenove Capital and Brewin Dolphin Ltd. Under its Royal Charter the Charity has the power to rnake any investment that the Trustees see fit. The value of the investment portfolio decreased in value by 1.43QA during the financial year, which was mainly due lo an IMF World Economic Ouuook below the histori¢al average of 3.8 % in the period. By ¢ompaTlSOn FTSE estimates adjusted net income lo drop 70/0 in 2023 and the S&P 500 Index is just 1.8 /0 against a mean of 100h. Financial review a. Going concem After making appropriate enquiries. the Trustees have a reasonable expectation that the Charity has adequate resources to contirsue in operational existence for the foreseeable future. For this reason, they continue to adopt the going conceFn basis in preparing the financial statements. Further details rega¥ding the adoption of the going concein basis Can be found in the a¢counting po5icies. b. Reserves policy 11 is the Charty's policy to hold financial reserves lo ensure that it.. has esseritial income from it5 investment and commercial property portfolios to support adequately the costs both ol staffing at La Providence, and of maintenance of the Charity's almshouse and administration accommodation., has sufficient portfolio income adequately lo consetve and maintain its archives and collections.. can wthstand unforeseen economic shocks., con upgrade its faciliknes al La Providence.. can develop its services lo current beneficiaries,, has the financial capacity to make grants to beneficiaries for the relief ol their need., can respond adequately in circumstances where there is increased demand for its services in the future., and can continue to operate in perpetuity- The present minimum level of the Charity's total reserves required by the Trustees has been increased 12010 from £440,000 in 2022 to £492,800 in 2023 in line the median uplift ol The Ajmshouse Association uplift benchmark of 14V/o (materials and maintenance) and 100/0 (all other expenditure). Page 4 The French Hospital Trustees. Report {ct)ntinuedl forthe yearended 30 June 2023 The present level of the Charity's reserves is essential to support its currenl almshouse operations, and for the maintenance of its archives and collections. To ensure the Charity has the capacity to ftjnd development, make grants, and respond to increased demand, and lo ensure that it has this capacity in all reasonably foreseeable circumstsnces, it Is the Charity's policy to seek. over the medium term, donations and legacies for use a5 an expendable endowment. At the B81ance Sheet date the Charity holds free reserves amounting to £2,940,124 12022.. £2,871,852). The Charity has re¢endy undertaken all the decorative and repair works indicated by the Surveyorfs quinquennial inspectron, and has also installed four new boilets, and associated systems, servicing the whole of La Providence. Substantial fvnds had been sel aside for the qLtinquennial contract, bul the opportunity ha5 also been taken to undertake certain addikn.onal works that were found, during the quinquennial contract, to be either necessary or highly desifable, and this has had an impact on the Chaiity's cash reserves. Whilst the expenditure on the boilers had long been anticipated as a capital expense, nonetheless the £192.000 cost has been funded, in Ihe main, from the Charity's c85h re8etve8. Thus, theie has been an adverse impact on those reserves, and the Trustees are formulating a plan to increase the level of the Charity's liquid resetves in tt)e medium term. In order lo achieve the Charitys policy it needs to seek additional ftinding from both individuals and gfant-making bodies in support of specific projects related to.. the upgrading of both sheltered accommodation and communal areas at La Providence., and the development of services and facilities for beneficiaiies. 1t is the Charrty'5 policy lo hold sufficient of its reserves in cash or other liquid assets in order to cover.. normal fluctuations in almshouse operation cashflow; and in case of unforeseen ciicumstances, the cost of almshouse operations for a pefiod of betsveen 3 and 6 months. StNcturei govemance and management a. ConstitUt￿n The French Hospital is a Charity in¢orpofated by Royal Charter, first granted by His Majesty King George l on 24 July 1718, and amended by Supplemental Royal Charter granted by Her Majesty Queen Elizabeth 11 on 9 Seplernber 1953. Her Majesty Queen Elizabeth 11 granted a further Supplemental Royal Charter to The Govemor and Directors ol the Hospital for Pool French PTolestant5 and their Descendants residing in Great Biitain on 26 August 2015. This Supplemental Royal Charter replaces and revokes eadier Charters in all respects, except that the Original Charter incorporates the body corporate of Governor and Directors as one Corporation - and confers upon this Corporation perpetual succession and a Common Seal. The official ttlle o* the Charity is The Govemor and Directors of The Hospital for Poor French Protestants and their Descendants Residing in Great Britain. Directors who are members of the Quartedy Committee are Trustees of the Corporation., non- members are known as Non-Tiustee Directors and are not TrLtstees ofthe Corporation. Honorary Dire¢toY$ are neither Trustees (Trustee Directors) nor Non-Trustee Directors. The Duke of Buccleuch and Queensberry, KT, KBE, is currenlly the only Honorary Director b. Methods of appointment or election of Trustees Management of the Charity is the responsibility of the Trustees, who are ele¢ted under the terms of Ihe Royal Charters. Page 5 The French Hospttsl Trustoes. Rèport Icontinu@d) for the year ended 30 June 2023 StN¢ture. goveman¢e and management {continued) The Trustees have assessed the necessary and desirable Skills. attTibutes and experience that they consider should be available to the Charity to enable it most effectively to fulfil its objec15. Where defi¢ien¢ies in skills and experience have been idenbfied among the existing Trustees, the Trustees actively seek to address them. Trustees seek to appoinl new Twslees, both lo increase numbers and diversity of the Trustee body and to increase repTesenlation within the Medway area. Consideration is also being given to succession planning. regarding the offices of Deputy Govemor. Tieasurer, Chairman and Secretary. An individual proposed as a Tru51ee is subjected lo a thorough selecb.on and interview process to ensure that their appointment as a Trustee will strengthen the overall composition and balance of the Trustee 8ody. Directors are only considered for nominalionlre-nomination to the Quartedy Committee if they have attended more than 500/0 of the Quarterly Committee meetings in the twelve months prior to 30 June immediately preceding such consideration, or in the t￿tIve months since their ir¥itial clcction as a Dircctor, and if th¢y hovc been considered by the Quarterly Committee to have been ath'vely and positively engaged in the affairs of the Corporation. ¢. Organisational structure and decision4naking polictes The number of TFUStees constituting the Charity in addition lo the Govemor and Deputy Governor shall be not less than 10 and not more than 50. On 30 June 2023, there were 13 Trustees 12022.. 121. All meeting$ ol the Charity are knosw as CoLErts. Four General Courts are held in every year, normally in the months of January, Apiil, July and October. At every General Court eight Trustees or more shall be nominated as a Quarterly Committee. which meets lo conduct the current business of the Charity. A Court may al any time appoint other Committees for special purposes. Daily running of The French Hospital, mainlenan¢e of its premises, and management of the Charity's employee5 are delegated to the Clerk. who reports to the Trustees. The Trustees were pleased lo appoint Mr D Cowar(l as Clerk to the Cctrporab'on on 20 December 2022, and he took up his position on 9 January 2023. The Trustees would like to take the opportunity most warmty lo thank the staff, who are involved in major Ilecision-making and policy formulation where appropriate. The Twstees would also like to thank volunteers and supporters of the French Hospital for all their support over the last 12 months. d. Policies adopted for the induction and training of Trustees The Trustees are given an induction pack upon appointment., this pack includes, inter alia, a copy of both the Charity's by-laws, and the Charity Commission's guidance publication, The Essential Trustee.. what you need to know ICC3}. Training is given a5 and when tt is deemed to be appropriate and required for the Charity's needs. Quarterly Committee and Sub-group members are offered the opportunity to attend training on their legal responsibilities, on an annual basis. They are also invited to attend networking and training events organised by The Almshouse Association and other bodies. . Pay policy for key management personnel Pay is benchmarked similar organisation5, prior to the engagement of senior statt. Senior staff may be paid for hours worked more than contracted hours. wth agreement from the Quartedy Committee. Salaries are reviewed on an annual basis. Page 6 The French Hospital Trustees. Report (continued) for the year ended 30 June 2023 StNcture, govemance and management Icontinuedl f. Risk management The Trustees have a duty to identify, assess and regularly review the risks to which the Hospital is exposed, especially those related to its operations and finances. The Tnjstees need to ensijre that appropriate controls are in place to provide reasonable assurance against fraud and error. During the year ended 30 June 2023, the Trustees have identified and a55essed the major risks to which the Hospital is exposed. They are satisfied that the Hospital has systems and pro¢edure5 in place, which should, under normal circumstances, mitigate exposure to major risks to an acceptable level. In respe¢l of Health and Safety the Hospital seeks to ensure that the Charity's position and policies comply wlh BS QHSAS 18001. The Hospital's collection of records and artefacts are of both historical inleiest and intrsnsic value. To manage the risk of their loss or destruction. these records and artefacts are held and conserved by Huguenot Heritage Cenlre (known as the Huguenot Museum) where they are available for public view wthin certain limitations. A formal document, signed by both parties, govems the basis on which the Collections are stored, displayed and managed by the Museum. Trustees aim lo verify the inventory of the Hospital's Collection annually.. a full check 11 be completed in 2023 following reduced curatorial activity during Covid-19. g. Governance The Chadty seeks to follow the principles and recommended practice for good govemance, contained in the Charity Governance Code for, Smaller Charities. Following the issue ol an updated Code in late 2020, the Trustees reviewed Governance procedures I practice, in March 2022. They considered the more heavily amended Principles within the Code,. specifically, Prtnciple 3 - Integrity (values, ethics and culture) and Prin¢iple 6 - Diversity (Equality, Diversity and Inclusion) and in doing so, reviewed the Charity's Policies on Safeguarding and Equality and Diversity. The Trustees are satisfied that the Charity's policies, pracb.ces and culture fvlly embraced guidan¢e contsined in the undaled Charity Governance Code. To ensure that the governance of the Charity 15 conducted by individLTrals with a good and current knowledge of the Charity's affairs, membership of the Quarterly Committee and Trustee status is, ex¢ept in oxtcnuatsng Clfcumslances, only accorded to those Directo[5 who have attended at least half of the Quartedy Commitiee meetings held duTing the preceding year and have been actively and positively engaged in the affairs of the Corporation. Trustees regularly engage in a sell-appraisal process. Updated Job Descripb"ons are in place for Directors and Officers. Subgroups reporhng to the Quarteily Committee are regularly reviewed and Terms of Reference are in place for them. The Selecb'on process for recruiting new Directors has been reviewed. Recruiting is based on the skills need of the Directorate. A comprehensive Risk Register is in place, covering all aspects of the Charity's business, and is reviewed regularty by the Governance Subgroup, most recendy in February 2023 when new seclitsns were a150 added, to deal w¢th piofjle, security and risk of epidemics succeeding Covid-19. Issues are brought to the Quarterly Committee of Trustees, as necessary. A detailed Forward Plan exists for the Hospital. It is reviewed and agreed by the Trustees peiiodically. It informs the Trustees, business decisions now and wll continue lo do so in the future. A Disaster Relief Plan was approved by the Quarterfy Committee on 1 S July 201 S. The Charity's Policies are regulady reviewed and updated. GDPR. Fundraising and Privacy Policies are in place and up lo date. The Employee Handbook includes policies on Communicats'ons, Grievance and Discipline, Maternity and Adoption, Parentsl anil Paternity Leave, Sickness and Absence. Redundancy and Retirement and 11 be reviewed in 2024. Page 7 The French Hospital Trusteès. Report Icontinuedl for the year ended 30 June 2023 struclurei govemancè and management {continuedl Plans for future periods Almshouses seem to wipe away the negative impacts on health and social wellbeing commonly experienced by older people in lower socioeconomiG groups, particularly those living in isolation. Professor Ben Rickayzen, co-author of the Almshouse Longevity Study. .those fortunate enough to live in an almshouse receive a longevity boost of almost and a hall years - equating to an extra 150/4 of future life for someone eged in their early TOS. The Guardian 22 May 2023 Improvement of almshouse facilities The Charity continues to upgrade ils almshouse facilities. This has included improving access lor residents and Ihoiough renovation ol the fabric of its mainly Grade 11 Listed premises. Residents, flats are upgraded and renovated at a rale of per yeai. To support this work, extend its scope and further the Charity's objects, The French Hospital continues to identify and develop sources of funding that might support fvlure projects. The Charity has received support from The Charles Skey Trust for the replacement of boilers and refijrbishment of the boiler room which was last updated 40 years ago. The new boilers wll be hydrogen ready, are likely to halve the annual number of kilowatt hours Consumed by The French Hospital and wll ensure that the water system is up to BS8580 standards and as safe as possible to slop legionella growth. Due lo the Grade11 Listing of most of The Charity's premises, and its location wthin Historic Ro¢hesler Conservation Area il not possible to install sources of renewable energy. The work is scheduled to commence soon after the beginning of the next financial year. The French Hospital also wish lo thank the World Gold Council for another geneTOUS donation. The washrooms in the Common room are now accessible with grab rails, alarms and new toilets to ensure they can be used by all The Common room is iised by the 66 residents at The French Hospital 8s well as several local groiips including the Rochester Women's InstibJte, so this grant has impfoved the facilities for the ¥Mder community of Me(fvrny. Gifts in Kind from Axis Europe have taken the form of donations of time, services and materials to re-decorate the Hallways at The French Hospital, making the environment al La Providence is more Comfortable for oui community. More such gifts have been secured for the 2023124. Engagement with the public and other organisalions lo encourage support, as well as to develop beneficial relationships, lor both Ihe Charity and its residents, remains a priority. The Chaiity continues lo engage with its Friends of The French Hospital supporter base, and wth other charities with which it is aligned. seeking opportunities to raise its profile. Incorne from fundraising The French Hospital thrive5 by fijnctioning as a distinct and self-SUPPOrting community of trustees, staff and residents. To supplement its charitable income, it actively seeks fvnds to facilitate these VFtal community activities. and resources that promote wellbeing and both spirittjal and physical heatth.. Communtty so¢ial activities su¢h as Christmas and knnsversary pa￿e$, external visits, residents, lunches, Winter Sunday lunches, lea parties. Wellbeing Da*5 that showcase possible activities and welfare resources. Community wellbeing acts"vith"e5 that promote individual creative skills as part of a group activity, such as the Gardening Club, the Craft Club, the Art Group and La Providence 'Sheds'. Community health activities such as fitness, Tai Chi and dance. Community spiritual activities such as Ho5y Communion and meditation. Maintenance of, and improvements tr), the French Hospital fa¢ililies. Page 8 The French Hospital Trustees. Report {continuedl for the year ended 30 June 2023 Plans for futurè ￿riOdS (continued) As such the French Hospital will be lundraising to help facilitate.. The continuation of ¢urrenlly scheduled activities with the aim of securing fvnding up to December 2024,. augments'ng the range of facilities available to residents on-sile-, availability of transport for events and outings., offsetting the cost of new hydTogen-ready boilers which will both halve the French Hospital's current gas consumption and reduce the risk of legionella.. upgrading and decoiating communal areas". and improving residents, mobility, and addressing related issues the Grade 11 listed flats wthin the constraints of Listed Building Consent. Income from 95 High Street The majority of 95 High Street, Rochester is occupied by Commercial tenants of The French Hospital, namely Medway Council and the Huguenot Museum. An element of this propety remains unoccupied but is used lo generate fijnds from short-le¥m letb.ngs and hire. 11 is also used to support activities that benefit The French Hospital community. As a part of the forward planning proces5, Trustees continue to review options for the longer-term use of 95 High Street as a whole, and of elements of the space wthin it. Research is underway to investigate the feasibility and possibilities of demolishing and extending the footprint of the rear part lo provide addits"onal, slate-ol-the-art accommodation for more residents. Income from contributions Contributions are reviewed annually and in¢Teased in line with the CPIH index. An updated scale of charges applies to those who have taken up accommodation at La Providence from 31st May 2020. This updated scale allows the Charity to make best use of LHA monies available to those residents wth greater financial needs. Around 25°k of flats now attract the new contribution rates. Contributson rates are currently under review the intention incrementally to increase them in July 2023, July 2024 and July 2025. Information on fundralslng praciices The French Hospital complies with Charity Commission guidance and UK fijndraising law and seeks to deal with its supporters and members of the public WFth openness and honesty. The Charity is signed up lo the Fundraising Regulator's Code of Fundraising Practice and the Head of Engagement l Deputy Clerk is a Member of the Institute of FLtndraisin9. The Charitys policy incorporates Yegulations set out in the Code of Fundraising Practice, which help to ensure that organisations iaising money fo¥ charity from the publi¢ do so honesuy and pioperly. Al personal dats is collected and held in compliance wth current Data Protection legislation and in accordance wth the Challty's Data Protection and Priva¢y Policies. The Charity's fvndraising does not subject vulnerable people and others to unreasonable intrusion on a person's priva¢y, unreasonably persistent approaches or undue pressure to give. The French Hospital employs a ftjll-time, in-house Head of Engagement and Deputy Clerk who leads on fundraising matters, including compliance, for the Charity. The French Hospltal monitors the fundraising activities carried out on its behalf in a variety of ways through regular Fundraising Updates to Trustees. an Engagement Subgroup comprised of both staff and Trustees, and regular meetings between the Clerk and the Head of Engagement and Deputy Clerk. The Charity 15 not aware of any failure to Comply wth the standards cited during the 2022123 Financial Year and received zero lundrai5ing complaints during the 2022123 Financial Year. Fundraising impact The correlation behveen loneliness and social isolation and poor health Is well-evidenced,. loneliness increases tlje likelihood of mortality by 26% and the effect on health of o lack of social connects'ons is comparable to smoking 75 cigarettes a day Holt-Lunstsd 2015 Page 9 The French Hospital Trust@@s' Report (continu￿) for the yearended 30 June 2023 Plans lor future periods Icontinuedl Increasing evidence suggests that our social connections can play a vital role in maintaining our health- a good social network. as cited above, can have more health benefits than giving up smoksng. The French Hospital community is provided accommodation but is also supported to remain actÉve, products've, independent, creative and socially connected. Working through the challenges that the pandemic brought, theTe has been a spollighl on restoring and nurttjring sustainable, Resident-led projects that develop social inclusion. The gardens at The French Hospital are beautifully tended by the Community Garden Club, wth mole strenuous maintenance such as grass-cutbng and tree surgery carried OLrt by contractors. Activities includirig Holy Communion. Anniversary, Summer and Christmas Parties, Darts, Bingo. Quiz Night, Tai Chi, Physical Fitness, Craft, and the Fren¢h club have started up again and are always well attended. In add￿On, a new Singing Group. Art Group, Dance Group and the La Providence Sheds carpentry workshop have commenced. The focus is both on physical and mental wellbeing for all members of The Fren¢h Ho$pit81 ¢f>mmunity. Those residents who prefer to keep them3elve3 to themselves, or are largely housebound, receive regular heallh and welfare checks and visits from staff and residents as appropriate. Community aciivities are facilitated thTough donations,. all are CUryen￿Y funded unlil the end ol the next financial year. Volunteering has also increased for residents being involved in projects including the local Community Café, Medway Hospital, Rochester Cathedral and primarily at the Huguenot Museum. Museum volunteers have taken on demanding roles at front of house and in Huguenot history and family history research. The Huguenot Museum has generously organised Volunteer's outings, which reCen￿Y Included a vssit to Tate 8rilain', a reciprocal visit lo The French Hospital by Tate Britain Volunteers took place shordy aftetwards. The Steward team continue to piovide vital support and communication 24 houTS a day lo residents and The French Hospital is committed lo continuing with future-proofing safe, independent-living accommodation wth the Quinquennial upgrading works and Boiler replacement which wll be completed in the financial year 202312024. The French Hospital would like to thank all its donor5 and supporter8 for their generous donations that have helped to knnd Projects and activityes aimed at supporting ils Community. Physical health, wellbèing and social inclusion The Friends of The French Hospital have provided on-going support wth donations and subscription5 to lund events and activities for the residents including the Christmas Lunch. The exercise class has made a big impact on The French Hospital community. The class is attended by up to 20 people each week.. others who are unable to attend in person can join in online in the comfort of their home. Funding from the Kent Community FoLTrndalion and Involving Medway has allowed this clas5 to take place twce weekly. The importance of exercise in the over 65's is clearly evidenced.. Covid confined millions of older people to their homes for a long penod of b"me. Many were already fraAI and at high risk of falls Falls are the leading caus& of accidental death in people and treatments for falls costs the NHS more than £2.30 billion a year About half fear that spending so much h.me at home has resulted in a Ios8 of St￿ngth and mobility and health professionals believe declining physical fitness could lead lo an Nncrease in falls in olderpeople Age UK 2021 In addition, a grant from the Kent Community Foundation has knnded a weekly singing group. This is well attended and has shown to help in many ways.. Reduced stress and anxiety Release of endorphins (the feel-good, chemical) Enhanced immune system. Improved circulation and lung health. NHS 27 Ocl 2022 Page 10 The French Hospital Trustees. Roport {continuodl for the year ended 30 June 2023 Plans for future periods Icontinuedl Regular cljoir members report that learning new songs is cognitt'v&ly stimulating and helps their memory. and Jt has been shown that singing can help those suffering from dements'a, too. The sat15fa¢lion of performing together, even without an audience, Is likely to be assocNated with acavalion of the brain s reward system, including the dopamine pathway, which keeps people coming beck for more. University of Oxford Research 2022 The remainder of the generous grant from the World Gold Council Grant (see Improvement of Ajmshouse Facilitie51 ha5 funded the La Providence Sheds project. Run in conjunction with the Octopus Foundats"on. to whom The French Hospital is most gratefijl for delivering this initiative, a weekly woodwork workshop provides a safe and supervised environment using state ol the art carpenty equipment. From The French Hospital community 8 men and women attend every week and Ltrnder guided supervision have made a variety of items not only for The French Hospital (planters and obelisks for the garden, and a dartboard cabinet for the Common Room) but for the local community. Just W8nted to say how much l enjoy the In Sheds woodworking group. as like other men here having moved from a house to a flat have not had a place lo Carry on the hobbies enjoyed in the past, such as Carpentry, Metal work. Model Building or just tinkering about In the shed making things. Many like me have ended up giving away a lifetimes Gollection of specialist tools because we had no use for them here or the room to store them away, so it is great to have somewhere to make things again with tools available arjd be with other like-minded people are able to carry on hobbies we thought were lost forever. Histoncally men otten spent most of their lives making things with their hands. from plastic models as child￿n, through woodwork and metal work classes as school, then throughout their working lives in industry. In retirement a Job that you used to enjoy using the skills amassed over a lifetime, suddenly goes and rf all that s available is sewing and art, this can come a5 quts a shock. Not being abl8 lo do what they enjoyed doing for most of the life can have a severe effect on their well-being and mental heatth. so this should be a good thing for all involved. Thank you for atTanging this opportunity for us. Paul, aged 65 In addition, Medway Community Healthcare. support greatly appreciated by The French Hospital community, lund a weekly Art Class al The French Hospital linking on Zoom other local residents. Some of the work has been exhibited. The enthusiaswn it has generaled has led to the formation of a weekly Art Group that not only meets lo work together but also goes on trips lo art galleries, most recentty to view the work of Biazilian Beatriz Milhazes at the The Tumer Contemporary, whose collages, semi-figurat've and abstract works have inspired members of The French Hospital community lo have a go. Page11 The French Hospital Trustees. Report Icontinuedl for the year ended 30 June 2023 Statement of Trustees. responsibilities The TTUStees are Tesponsible for preparing the Tnjstees. report and the financial statements in accordance with applicable law and United lfjngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to Charities in England & Wales fequires the Trustees to prepare financial slatemenls for each financial %thich give a true and fair view of the slate of affairs of the Charity and of its income and applicatson of iesouices, including its income and expendituie, lor Ihat period. In preparing these financial slalements, the Trustees are required to.. select suitable accounting policies and then apply them consistenuy., observe the methods and principles of the Charities SORP IFRS 102)., make judgements and accounting estsmates that are iea50nable and prudent., stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements,. prepare the financial slalemenls on the going concern basis unless it Is inappropriate to presume Ihat the Charity will continue in business. The Trustees are responsible lor keeping a¢Jequate ac¢ounling records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuTacy al any lime the financial position of the Charity and enable them to ensure that the financial ststemenls comply wth the Charities Act 2011, the Charity {Accounts and Reports) Regulations 2008 and the provisions of the Royal Charter. They are also responsible lor safeguardin9 the assets of the Charity and hence for taking reasonable steps fvr the prevention and detection ol fraud and other irregularities. Disclosure of infomiation to auditor Each ofthe persons who are Trustees al the time when this Trustees. report is approved has confirmed that.. so far as that Trustee is awaTe, there is no relevant aLtdit information of which the Charity's auditor is naware, and that Trustee has tsken all the steps that ought to have been taken as a Trustee in order lo be aware of any relevant audit information and to establish that the Charity's auditor is aware of that information. Approved by order of the members of the Board of TTrsslees on 3 £013 and signed on their behalf by.. SW LJDuCane DepLtty Governor Page 12 The French Hospital Ind•p•nd•nt Audilorfs R•port to th• M•mb•rs of Th• Fr￿ch Hospital Opinion We have audited the financial statements of The French Hospital (the 'Charity'l for the year ended 30 June 2023 which ¢omprise the Statement of financial a¢livittes, the Balance sheet, Ihe Statement ol cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparab.on is applicable law and United l. 11. Trustees. remuneration and expenses During the year, no Trusiees received any remunerab.on Of olher benefils12022 - £NILI. During the year ended 30 June 2023, expenses totalling £1,767 were reimbursed or paid directly to 4 Trustees12022 - £104 to 2 trustees). These were paid in relab.on to travel costs incurred. Page 28 The French H05Pital Notes to the Financial Statements forthe yearended 30 June 2023 12. Tangible fixed assets Providence Lffts Total Cost or valuation At 1 July 2022 1,494.160 70.367 1.564.527 At 30 June 2023 1,494,180 70,367 1,S64,S27 Depreciation At 1 July 2022 Charge for the year 1,044,048 41.112 58,7S6 2,815 1,102,804 43.927 At 30 June 2023 1.085,160 61.571 1,146,731 Net book value AI 30 June 2023 409,000 8.796 417,796 At 30 June 2022 450,112 11,611 461,723 Page 29 The French Hospital Notes to the Financial Statements forthe yearended 30 June 2023 13. Investment property Freehold investment property Valuation At 1 July 2022 1,096.23S AI 30 June 2023 1.096,235 The Gharty has Income from four commercial tenancies of which ts¥o form part ol the almshouse complex. 95 High Street at present does not include any almshouse accommodation. The other tsvo tenanted properties are included wthin La Providence in note 12. The propertt'es involved are used partly for charrtable purposes and partly as investment properties. The investment parts of the properties comprise ground floor shops or offices that are let al a commercial rent. The Trustees are of the opinion that, as these properties form an integral part of the almshouse accommodation, they have no readity available market value. Therefore these three properbes have been included in the accounts at cost. Page 30 The French Hospital Not@s lo thè Financial Statemonts forthe year ended 30 June 2023 14. Fixed asset investmtnt5 Listed investments Cost or valuation At 1 July 2022 Additions Disposals Revaluatsons 3,686,066 801,014 1903,2631 49,483 At 30 June 2023 3,633,300 Net book value At 30 June 2023 3.633,300 At 30 June 2022 3,686,066 Investments at market value Comprise listed fixed asset investments that are all held in the UK. Material investments Material investments comprise all holdings that Tepiesent more than SOA of the Charity's total portfolio.. 2023 Cazenove Multi-Assel Fund 1.192.580 1.192,580 16. stocks 2023 2022 Anniversary books slock 4,889 4,969 Page 31 The French Hospital Notes to the Financial Statements for the year ended 30 June 2023 16. Debtors 2023 2022 Due within one year Trade debtors Other debtors Prepayments and accTued income 26.642 5,064 121,406 4,126 17,425 153,112 21,551 17. Creditors: Amounts falling duewithin one year 2023 2022 Trade creditors Other taxation and social security Other Creditors 10,836 4,078 58,123 16,889 3,194 66.271 73,037 86,354 Deferred income 2023 2022 Deferred income at l July 2022 ResoLsrces deferred during the year Amounts released from previous periods 32,348 31,683 132,348) 31.567 32,348 131,5671 Deferred income at 30 June 2023 31,683 32.348 Page 32 The French Hospilal Notes to th• Finaneial Ststements forthe year ended 30 June 2023 18. Statement of funds Statement of funds - ¢urTent year Balance at 30 June 2023 Balance at 1 July 2022 Transfers inlout Gainsl (Losses) Incorne Expenditure UnrÈstri¢ted funds Designated funds Cyclical Maintenance Fund 288,000 1154.2841 60,000 193.716 General funds General Fund Friends of La Providence 4,388.494 671,738 1606,5421 {60.000) 17,234 4,410.924 41,316 1.915 43,231 4,429.810 673,653 1606.5421 (60,000) 17,234 4,4S4,155 Total Unrestricted funds 4,717,810 673,653 1760,8261 17.234 4,647,871 Endowrnent funds Endowment Fund 507.634 19.814 15.080 542,528 Restricted funds Trust Fund Capital Trust Fund Income Betard BÈquest 9S,023 3.591 98,614 85,220 16,882 4,718 17441 89.194 16,882 197,125 4,718 17441 3,S91 204,690 Total of fund5 5,422,569 698.185 1761,5701 35,905 5,395,089 Page 33 The French Hospital Notes t• the Financial Statements forthe year end￿ 30 June 2023 18. Statement of funds {¢ontinuedl Statement of funds - prior year Ba5ance at 30 June 2022 Balance at 1 July 2021 Transfers inlout Gainsl (Losses) Income Expendi￿re Unrestricted funds Designated funds Cyclical Maintenance Fund 240.000 48,000 288,000 General funds Geneial Fund Friends of La Providence 4,536,277 641,765 {551.5831 (48,0001 {189,965) 4.388,494 41,316 41,316 4,577.593 641,765 {S51,583} 148,0001 (189,965) 4,429,810 Total Unrèstricted funds 4,817,593 641,765 1551,5831 {189,9651 4.717,810 Endowment funds Endowment Fund 669.588 4,266 {166,2201 507,634 Restricted funds Trust Fund Capital Trust Fund Income Betard Beque8t 134.599 139,5761 95,023 73,468 16,882 12,560 {8081 85,220 16,882 224,949 12,560 {8081 139,S76) 197,725 Total of funds 5,712,130 658,591 1552.3911 {395,7611 5,422,569 Page 34 The French Hospital Notes to the Financial Statements forthe yearended 30 June 2023 The designated funds comprise a Cyclical Maintenance Fund, which exists to hold a reserve at each year end that is commensurate with the liability, accrued a5 at that point in the five-year cycle, for the estimated costs associated with the Charity's next quinquennial maintenance and rede¢oration programme. At the completion of a quinquennial maintenance and redecoration programme, the funds held in Ihis reserve are applied against the costs of the quinquennial programme. Thus, the expendilure for which these ftjnds have been set aside is expected to be incurred wthin five years of the date of their designation. Each year a transfer is made lo the designated Cyclical Maintenance Fund, lo build up the balance of this fund, ahead of the next time such works are required. The restricted fijnds comprise three restricted funds which were all giveri for particular purpose5 and projects. These restsicled funds being.. Trust fund capital: Trust fvnd income: and Betard bequest. The Betard bequest monies were donated and are applied lo The Fiench Hospital projects that wll 'Improve residents. mobility" The Trust fund capital and Trust fund income are now solely comprised of the Outgift fund. Thi5 fund exists lo assist persons of French Protestant descent who are in need. 19. Trust fund capital All investments that are held for the Trust fijnds ale quoted on the UK stock exchange and are shown at market value in the analysis below. The increase l {decrease) in value of the investments is applicable to each Trust in proportion to the original cost thereof. Market value al 30 June 2022 Market value at 30 June 2023 Gains I Ilossesl Transfer$ out Oulgift Trust fund income Balance at 30 Reinvested Distributed in June 2022 income year Transfers out Balance at 30 June 2023 Outgift 85 220 ￿ ￿￿44) Page 35 The French Hosprtal Notes to the Financial Statemcnts forthe year ended 30 June 2023 20. Summary offunds Summary of funds- CUTrent year Balance at 30 June 2023 Balan¢e at 1 July 2022 Transfer5 inlout Gainsl {L055e51 Income Expendbture Designated funds General fijnds Endowment fijnds Restricted fvnds 288,000 4,429,810 1154,2841 {606,5421 60.IXIO (60,0001 193,716 4.454.15S 673.653 17234 507,634 197,125 19.814 4,718 15,080 3,591 542.S28 204.690 17441 5,422,569 698.185 1761,5701 35,90S 5,395.089 Summary offunds- prior year Balance at 30 June 2022 8alance at 1 July 2021 Transfers inlout Gainsl (Losses) Income ExpendrtUTe Designated funds Genefal fvnds Endowment fvnds Restricted fijnds 240,000 4,577,593 48,000 {48,0001 288,000 4,429,810 641,765 15S1,5831 1189,9651 669,588 224,949 4,266 12,560 1168,2201 (39,5761 507,634 197,125 {8081 5,712,130 658,591 1552,3911 1395,7611 5.422,569 21. Analysis of net assets between funds Analysis of net assets betsveen funds - current year Endowment Restricted Unrestricted funds funds funds 2023 2023 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Investment property Current assets Creditors due within one year 417,796 2,886,082 1,096,235 320,795 173,037) 417,796 3,633,300 1,096,235 320,795 173,0371 542,528 204,690 Total 542,528 204,690 4,647,871 5,395,089 Page 36 The French Hospital Notes to the Financial Statements for the yearended 30 June 2023 21. Analysis of net assets between funds Icontinuedl Analysis of net assets between funds - prior year Endowment Jnds Restricted Unrestricted ftjnds frjnds 2022 2022 Total fund5 2022 2022 Tangible fixed assets Fixed asset investments Investment propety Current d5set3 461,723 3,101,680 1,096,235 144,526 186,3541 461.723 3,686,066 1,096,235 264.899 186.3541 507,634 76,752 120,373 Creditors due wthin one year Total 507.634 197,125 4,717,810 5,422,569 22. Reconciliation of net rnovernent in funds to net cash flow from opernting activities 2023 2022 Net expenditure for the year {as per Statement of Financial Activities) 127.4801 {289,561) Adjustments for. Depreciation charges (Gainslllosses on investments Dividends, interests and rents from investments Decrease in stock5 Decreasellincrease) in debtors Increaselldecreasel in creditors 43.927 135,90SI 1263,159} 80 1131,$61) 113,3171 52.087 395,761 1229,5511 115 18,766 22,500 Net cash used in 0￿ratIng a¢tivitie5 1427,4151 129,8831 23. Analysis of cash and ￿$h equivalents 2023 2022 Cash in hand 162.794 238,379 Page 37 The French Hospital Notes to the Financial Statcmcnts for the year ended 30 June 2023 24. Analysis of changes in net debt At 1 July 2022 Cash flows At 30 June 2023 Cash at bank and in hand 238,379 175,58S) 162,794 25. Capital commitments 2023 2022 Contracted for but not provided in these ffinancial statements 76,872 26. Pension commitments The Charity operates a define(I contributions pension scheme. The assets of Ihe scheme are held separately from those of kne Charity In an independently administered fvnd. The pension cost charge represents contributions payable by the Charity to the lund and amounted to £6,74012022'. £6.3381. As at 30 June 2023, there were no contributions outslanding12022.. £Nill. 27. Related party transactions Two of the Trustees of The French Hospital, namely P J Duval and L J Du Cane. also served as Trustees of Huguenot Hefltage Centre for al least part of the financial year under review. During the financial year, The French Hospital received £22,00012022". £22,000> from Huguenot Heritage Centre for the rental of the prernises. plus a total of £6,881 (2022.. £10,488> in respect of recharges of water, electricity and insurance costs. As as 30 June 2023 there was a balance oulslanding of £73212022-. £6441. Two of the Trustees of the French Hospital, namely C E M Martineau and P J Duval. are also Trustees of Norwich French Church. During the financial year. The French Hospital received £5,250 12022: £9,814) from Norwich French Church in donations. Four Trustees were reimbursed expenses totslling £1,767 in the year in relation to travel expenses incurred. Page 38 The French Hospital Notes to the Financial Stat•m•nts for the year ended 30 June 2023 28. Contingent liabilities On 19 March 2014, the French Hospital was named as a grantee of the Heritage Lottery Fund's grant for the Huguenot Heritage Centre project. Under the Heritage Lottery Fund's then Standard Terms of Grant there exists a possibility of a financial obligation by the French Hospital to the National Lottery Heritage Fund I"NLHF'I in ¢ircumstances in which either the Huguenot Museum chooses lo relocate without NLHF perrni5sion, or in which it ceases to operate. With the approval of the NLHF, the Museum has adopted a new operating model, dependent upon fewer salaried staff and wth a greater contributson ftom volunteers. The Museum, wth an Operations Manager in charge of a team of volunteers, re-opened to the public on 9th August 2022. Whilst ils income is not expected immediately to mal¢h ils expenditure, with judicious appli¢ation of its brought forward reserves 1£91,633 as at 1st April 20221 and with prudent financial management, the Museum 1$ now striving lo achieve a financially sustainable mode of operabon. The Directors of the French Hospital continue lo be support*ve of the Huguenot Museum charity and rts aims, and their represenlalives are active in assisting the Museum charity both in its day-to-day operations and in formulating strategies for its fvture. Be￿een the tsvo charitie5, Opportunities for parlnerships and for sharing in activities conkn.nue to be explored. While it is impracticable lo quantify the extent of this possible financial obligation, and thus no liability pertaining lo this matter is recognized in these financial statements, the TTuslees do not consider that this issue preFidices the Charity's ability to conb.nue as a going concern. Page 39