CHARI REGISTRATION NO: 221336 LORD BURGHLEY'S HOSPITAL ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
LORD BURGHLEYS HOSPITAL Contents Page Refererhce and administration Trustees reporr Independent examiners reFQrt Statement of financial activtttes Statement of assets Notes to the financial statements
LORD BURGHLEYS HOSPITAL Reference and administrntion Trustees The Most Honourable Maryuess of Exer- Chairman, rePreSend on Ihe Eoard of trustees by Mrs Miranda Rock The Agent to Burghley House preSeon Trust Limited Mr David J Pennell Mrjohn Mhl Indep¢ndent examiner Mr Nicholas Reynolds CGMA 61 High St St Martin's Stamford Lincs PE9 2LQ Business address Burshley Estate Office Sramford Lincolnshire PE9 2LQ Bankers Natwest The Malting5 2nd Floor. Braord Wharf East Lincoln LN5 7HA Charity reglstration numbor 221336 Page I
LORD BURGHLEYS HOSPITAL Trystees report for the year ended 31 March 2025 The Trustees present their report and accounts for the year ended 31 March 2025. Statement of Trustees responsiblllties Charity law re9uires the Trustee5 to prepare financial statements for each financial year vthich give a true and fair view of the Sta of affairs and the income and expenditure of the charity for that F*riod. In preparing those financial statements. the Trustee5 are required to: select suitable accounting policie5 and apply thern consi5trndy make judgements and estimates that are reasonable and prudenl prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in the foreseeable future. The Trusttts are responsible for keeping proper accounting record5 vthich disclose with reasonable accuracy at any time the financial position of the Trustand to enable them to ensure that the financial statements comply with the Charities Act 201 l. They are also re5wnsible for safeguarding the assets of the Trust and hence for taking reasonable stsps for the prevention and derectyon of frdud and other irregularities. Aims The Trust Yds formed in 1597. The income of the Charity shall be aPled to the maintenance of the building knoym as Lord Burghley's Hospital siruated in Station Road, Stamford. Ltncolnshlre to provide housing for nine poor men andlor women and one warden. Review of artivities All 9 of the alms house flars were fvlty occupied throughout the year with no changes of residents from the previous year. The chapel flat was used by St Martin'5 Church a5 office SFdce. The flats are regularly mainuined. Canon Court continues to reside in the old wardens ftat wth his wife and offer5 pasroral and practic315UPPOrt to re5tdents. He carries out other dutye5 Such as controlling the central heating system and pay5 a discounted contribution in recognityon of this service. The annual rent of £250 charged for the electri¢ity 5u&stauon was reinstated from January 2022 once the hew lease wa5 in place. Regerves policy The Trusiees now believe having made provision into the reserves it provide a stable base for the Charity's continuing attivities. whilst at the same time ensuring that exce55ive funds are not accumula. The Truttees believe that the reserves are sufficient for immediate purposes as well as being able to apply Some fund5 to Qvinquennial works, which are under review and implemenution. The Quinquennial Inspection. in 2019. identified a considerabie amount of work ro be carried out over the coming years. Results The Charity received incomè durin2 the year amountsng to £52.902 (2024 £50,191). The Trustees Yre able to apply £27.12012024 £40,04T) for charitable purF¢se5. leaving a Surplus of £25.782 12024 surplus of £10,144) before transFers beteen bnd& Pa¥e 2
LORD BURGHLEYS HOSPITAL Trustees report (continued) for the year ended 31 March 2025 Investment policy The Trustees of Lord Burghley's H05Pttal continue to review their wlicy to provide revenue for eurrenc purposes and enhance growth over the longer rrn, thereby enabling them to meet their currenr and future ofy"ectives in accordance with the purposes ¢1 the Charity. Risk assèsynent policy The Trustees have considered the risks which the chariry faces and have taken all necessary steps to Mitiga those risks. Public benefit The Trustees confirm that they have complied with the duty in sectson 4 of the Charities Acr 2006 ro have due regard to the Charity Commission's general guidan on public benefi[ 'Charities and Public Benefit,. Nominatlon of prosp¢rtive trustees Prospective Trustees are nomina1 by existing Trustees and invited to attend a Trustees. meetingb folbwed by an infom)al Meeting with the Chair and another Trustee. They are then given an induction pack containing informaty.on about Lord Burghley's Hospital and the responsibilities of being a trustee. which they take to peruse. If they decide to become a Trustee. they are co- Ope by being proposed and seconded by existing Trust at the ntsxt meetyn& All trnstees are encouraged to attend relwdnt training Courses. Trustees The Trustees who served during the year are shown on the Trust Information page and are appointed by the Trustees. By order of the Trustees Date WUL ILL Mr5 Miranda Rock Trustee r David Pennell Trustee Page 3
LORD BURGHLEfs HOSPITAL Independent examiners report to the Trustees for the year ended 31 March 2025 I report on the accounts which are Set out on pages 5 to 9. Respective responsibilities of trustees and examiner As the Charity's Trusrees you are responsible for the preparation of the accounts- you consider that the audit requiremeni of sectyon 144 of the Charities Act 2011 (the Act) does noi apply for this year and that an independent examination is needed. It is my responsibility to examine the accounts (under section 145 of the Attl, to follow the procedure5 laid down in the General Directions given by the Charity Commissioners {under section 14515) (bl of the Act>. and ro state whether particular MatrS have come to my attentton. Basis of independent examiners report My examination was carried out in accordance with the General Direcuons gven by the Chariry Commissioners. An examination includes a review of the accounting records kept by the chari 2nd a Comparison of the accounts presented with those records. It also includes consideration of any unusual IrnS or disclosures in the accounts. and the seeking of explanations from you a5 trustees ¢¢ncerning any such matters. The procedures undertaken do not provide all the eviden that would be required irh an audit and, consequendy. I do not express an audit opinion on the view jven by the accounts. Indep¢ndent examiners statement In connection wth the examination, no matter has come w my attention vA)ich &ves reasonable cause to believe thaL in any material respect, the requiremenrs.. to keep xcounting records in accordance with settion 130 of the ACE and to preparè attounts which accord with the accounting records and ta C¢)mply Nmth the accounting requirements of the Act have no¢ been rneL or to which. In my opinion. attencion should be drawn in order to enable proper understanding of the accounts to be reached. Mr Nicholas Reynolds CGMA Datè Independent Examiner 61 H4h Screet St Martin's Stamford Lincs PE9 2LQ Page 4
LORD BURGHLEY'S HOSPITAL Statemen¢ of Financial Activities for the year ended 31 March 2025 2025 General Funds 202S DtSl8nated Funds 2025 TrAal 2024 Total No Incoming rt50urces Contribuuons Re1ved Investmeni Income Other income 50.856 1,586 460 50.856 1.586 460 49.638 93 460 Total income 52,902 51902 50.191 ftesour expÈnded Running e05ts Building costs Other operating wenses 19.051 19.051 7.635 434 17.2S5 21,163 1.629 7,635 434 Tot41 •xpendlture 19.415 7,63S 27,120 40.047 Net in(omlhW(oirtgolnz) rnsources beforn other rn(015ed gainj and los$es 33,417 (7.63S) 25.782 10.144 GaInO0$S•S} on 1stM*nt assets Reali5ed gain on investments Unrealised Dinll105sI on investments 1&5921 (8.5921 47,256 N•t movement In fundg 24,825 (7.635) 17,190 57.400 ance brought forward Re¢ommended fund transfers 10 10 524,977 124.5401 175,569 24.540 7c.s46 643.146 Balanu ¢arrled forward 525.202 192,474 717.736 700.546
LORD BURGHLEY'S HOSPITAL Statement of Assets a5 at 31 March 2025 2025 2024 N¢xes Des1ted funds Generdl fund Exrraordinary repair fvnd Cyclical and rOtne mainzenance fvnd Total designated funds S25.262 143.891 48.583 717,736 524.977 137.371 38,198 700.546 Represented br. Fixtd 4s$ets Freehold Property InveStn.. Charityes offici Invesunent Fund at market value as at 31 M#r¢h 2025 1,69169 AccumulaDon UnKs Historlcal Cosc 119.373 426.490 435,134 Natl¢)nal Associati¢M Of Ajrnshouses at market value a5 at 31 March 2025 1213 L161 1377 Cornmon Inves¢rnent Fund Income Share5 - Historical Cost £668 42&703 437.295 Current assets Cash at Bank Debtors 287.637 3.318 290,955 264.180 3.281 267.461 Current Ilabllltl•s Creditor5 11.9251 14,2131 Total lunds 71 Y.733 700.546 The notes on pages 7. 8 and 9 form part of these financial statements. Th• financial statements were approved by the Truste¢s Dt HAQL L Mrs Miranda Rock Truste¢ r David Pennell Tnntee
LORD BURGHLEY'S HOSPITAL Notes to the accounts ft>r the year ended 31 March 2025 Accounting policies Accounting convention The financial statements are prepared under the historical cost convention. except for the freehold proFerty and investments, the basis of valuation of which are explained below. Freehold Property The freehold property consi5ung of the alms houses in Sramford. ¥YdS w'ven to the Charity many years ago a5 part of irs endowmenL The alms houses are considered ro be heritage a5*ts. The Tru5tee5 consider that thè e05t involved in attributing a value to the properties outweighs the additional benefit to users of the accounr5 in assessing the Trustees, stewardship of these assets. Investments The inVestmer are ttated at market value in the accounts. TrUtt$ Remuneration and Expenses There were no TruseS remuneratyon or È¥penses in the year (2024 - £Nil). Contributions Received ConrributTrons received relate to a maintenance charge received from the tenants in respect of the alms house flats. Page 7
LORD BURGHLEY'S HOSPITAL Notes ¢0 the accounts (continu) for the year ended 31 March 2025 2025 2024 4 Investmert income Incomè from listed invesunen &nk dep051t interest 96 1.490 1.586 93 93 5 Other incomè Annval p2ymeA¢ frorn the 6th Marquess ol Exeter Wll Trust Wayleaves Donations 210 250 210 2SO 460 460 6 Runnin8 costs Utilities R•fe$ Insurance 11,446 10.253 1.780 3.199 1.680 343 17.255 3.504 2.347 353 19,051 Helpline Subscripllon to the National Alm$house5 7 Buildlng cost5 Repairs and MiinnIrKe Refvrbi5hment Quinquennial inspecrion 7,635 14.727 6,436 7.635 21.163 4 Other operating e¥p¢nses Accountancy Sundry 4xp4n$ 434 434 1.629 1,629 9 Fixed asstt inYe5trnents COIF NAACIF Fund value as at l April 2024 Investment market 435,134 Unrealised 8ainsll1035es) in year Fun¢* value a5 ar 31 March 2025 {8.6H} 426.490 52 2.213
LORD BURGHLEY'S HOSPITAL Note5 to the accounts (contlnued) for the year ended 31 March 2025 10 Reconciliation of funds a11able Gener Fund Cyclical & Roucsne Mwntenance Fund Ordinary Repair Fund ance as at l April 2024 524.977 137.371 38.198 7C4).S46 SurplusllDefficit) For the Yw 24.825 17.635) 17.190 Tran5fws as per Am5house$ (see note bel¢)w} 124.5401 6.520 1&020 Redi5tribuDon of general lund balance Balance as at 31 Mah 2025 525.262 143.691 48,583 717.736 The AsSl00n of Amshouses recommends the trnnsftr to reserve funds for each of the ten unit& which are all over 20 years old. as from january 1991, as follow5-. Tor4T Extraordinary repair fund A reserv¢ fund lor future major expendityre- £652 per uni¢ 6.S20 Cyclieal maintenance fund A fund retained by the trustses to meet tenance occuring at incervals - £1066 per unit 10.660 Routine maintenan¢¢ fund A budget sum to coyer rguune r#WnnIfire- £736 per unit 7.360 Transfers from yneral fund &520 18.020 24.540 P•g* 9