The Hospital of Thomas Truesdale
(Charity No. 220344)
Annual Report 2024
Introduction:
This report describes the activities of the Trustees of the charity established by the will of Thomas Truesdale in the year 1700 – charity number 220344 – for the year ending 31[st] December 2024.
Trustees:
Mrs V Mitchell continued as chair of trustees. Mr Harrish Bisnausthing resigned from Stamford Town Council and therefore could not remain as the council sponsored trustee but the other trustees thought his input to be invaluable so he continued in the group as a local council advisor. Mr David Scammell was recruited specifically to help with finance and investments.
Residents:
There was no change in the resident population in 2024 which means we had a full complement of residents for the whole year.
Activities:
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The clerk and chair continued to meet on a regular basis to conduct the essential business of the charity.
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The chair and the clerk visited all residents to assess any needs
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The Trustees met 4 times in 2024 in February, May, August and November
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The crewyard at Morton is sold.
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The tenancy in no 1 West St continued to provide regular income.
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The Charity carried out the structural work as described by Mr Peter Slinger in his quinquennial report of 2023.
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A risk assessment was agreed by the trustees and added to the policies portfolio.
Assets:
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A grade 2 listed almshouse building divided into 8 flats—insured value £3,731,000
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A detached 2 bedroom property 1 West Street – insured value £414,000 let at £13,200 per annum
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Manor Farm House, High St, Morton a detached house with garage, large garden and cart hovel. The rent for the farmhouse is £15,600 per annum and the insured value is £1,037,000.
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There are several plots of land in Morton bringing in a rental income of £10,419 per annum.
Investments and Accounts:
At December 31[st] 2024 the total value of investments amounted to £743,521.90. The annual accounts prepared and submitted by the clerk have been agreed by the Trustees and appear in a separate annex to this report.
Mrs V Mitchell 20 March 2024
| THE HOSPITATOFTHOMASTRUESDALE RECEIPTSANDPAYMENTS ACCOUNT FOR THEYEAR ENDING31stDECEMBER2024 |
||
|---|---|---|
| 2024 | 2023 | |
| f | E | |
| RECEIPTS | ||
| RentalsandContributions | ||
| Residentscontributions* | f21,630.00 | f21,975.OO |
| 1West Street | f13,200.00 | f9,855.00 |
| ManorHouse Farmrentals** | f15,600.00 | f15,900.00 |
| Agricultural landMorton-Rentals and Wayleave | f].o,4L9.43 | fLo,278.43 |
| Dividends | ||
| M&G Charifund | f22,324.O8 | f21,207.9L |
| COIFDepositAccountlnterest | f4,537.LO | f420.o2 |
| Barclays Banklnterest | f2.47 | f0.00 |
| Bequest/Grants/Donations*** | f5,000.00 | f,2,200.o0 |
| Sundries**** | 822L,970.80 | €3,699.63 |
| TOTALRECEIPTS | €314,683.88 | €85,535.99 |
| Totalreceiptsminuspropeftysole | 892,773.08 |
| 2024 | 2023 | |
|---|---|---|
| f | f | |
| PAYMENTS | ||
| RepairsandRenewals | ||
| TruesdaleHospital | 817,623.39 | f49,397.74 |
| ManorFarm -Morton | f9,658.33 | f156.O0 |
| West Street | f4,423.24 | f2,512.OO |
| Ljghtlng&Heating | ||
| Gas | 115,7L2.58 | €11,930.98 |
| Electricity | 81,228.21 | f967.45 |
| Water | f865.02 | f597.2s |
| Rates&lnsurance | ||
| lnsurance | f.4,893.4Lf4,967.9| | |
| Administration | ||
| Clerk | f5,216.00 | f434A.OO |
| Gardener/Plants | f1,700.05 | €.7,233.63 |
| Admin/Officeexpenses | 8250.20 | f352.85 |
| Almshousefusociation* | f353.00 | f539.00 |
| Architect | f0.00 | f2,766.21 |
| Accountant | fs10.00 | f486.00 |
| Legalfees | f0.00 | f30.00 |
| Landagent | €550.00 | €0.00 |
| Surveyors | f1,410.00 | f394.93 |
| Structural engineer | f0.00 | f420.00 |
| OtherExpenses | ||
| CouncilTax | f0.00 | f975.66 |
| Planningapplication | f0.00 | €0.00 |
| Greenbin subscription | f51.00 | f49.00 |
| Christmaspresenttoresidents | f250.00 | f420.00 |
| TV Licence | f30.00 | f67.50 |
| Sundries | f6s0.39 | f600.71 |
| Recoupment | €0.00 | f0.00 |
| TOTAL PAYMENTS | 865,494.82 | f83,204.83 |
| EXCESSOFRECEIPTSOVER PAYMENTS | f27,2t8.2682,331,.t6 | |
| EXCESSOF PAYMENTS OVERRECEIPTS |
| IONWITHCASHAND BANK BAIANCES.GENERAL | FUND | |
|---|---|---|
| 2024 | 2023 | |
| f | f | |
| BankBalancesasatlstJanuary2O24 | ||
| Barclayscurrent account | fLg,670.32 | f,9,446.30 |
| COIFdeposit account | 822,770.36 | 830,063.22 |
| f41,840.68 | €39,509.52 | |
| Add:Surplusfor year | f249,189.06 | f2,33L.16 |
| Less:Deficitforyear | ||
| Balancesasat 31st December 2024 | E291,O29.74 | 841,840.68 |
| Barclayscurrent account | f8,848.20 | f19,670.32 |
| Barclays Depositaccount | 820,002.47 | |
| COIFdeposit account | 8262,179.O7 | 822,770.36 |
| f291,o29.74 | f41,84A.68 |
| INVESTMENTS AT 31ST DECEMBER2024 | ||||||
|---|---|---|---|---|---|---|
| Units | Value | Units | Value | |||
| 2024 | 2424 | 2023 | 2023 | |||
| EndowmentFund | ||||||
| M&G Charifund-lncome units | 22,849.28 | f | 335,843.76 | 22,809.28 | f | 327,310.83 |
| Recoupment(1)Fund | ||||||
| M&G Charifund-Accumulation units | 83.12 | f | 27,t78.14 | 83.12 | f | 74,932.17 |
| Recoupment {2}Fund | ||||||
| M&G Charifund - lncome Units | L,995.28 | f. | 29,378.56 | 1,99s.28 | f | 28,632.73 |
| EmergencvReserve Fund | ||||||
| M&G Charifund-Accumulation units | 183.77 | f | 60,091.70 | 183.77 | f | 55,125.65 |
| TotalofAll lnvestments | E | 452,492.16 |
f | 436,000.72 | ||
| GENERAL FUNDCASHAND BANK | f | 29L,429.74 | f | 41,840.68 | ||
| IOIAISSSETS | c. | 743,521.90 | c. | 477,841.40 |
| ChairmanofTrustees | n | ku/' | Date | 2n1," | f:*e( |
|---|---|---|---|---|---|
| Clerkto theTrustees | ua | |Date | ;)a/t | / .l.;L{ |