```
REGISTERED CHARITY NUMBER: 221428
```
## **`REPORT OF THE TRUSTEES AND`**
```
UNAUDITED FINANCIAL STATEMENTS
```
```
FOR THE YEAR ENDED 31 DECEMBER 2020
```
```
FOR
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020`**
||**`Page`**|
|---|---|
|**`Report of the Trustees`**|`1 to 7`|
|**`Independent Examiner's Report`**|`8`|
|**`Statement of Financial Activities`**|`9`|
|**`Statement of Financial Position`**|`10`|
|**`Notes to the Financial Statements`**|`11 to 21`|
|**`Detailed Statement of Financial Activities`**|`22 to 23`|
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020`**
```
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31December 2020.
ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objectives and aims`**
```
Theaimofthecharityistoprovideshelteredalmshouseaccommodationforpersonsofgoodcharacterwhoare in
conditionsofneed,hardshipordistress.Theaimisachievedbyrunningthirteenshelteredunitsinan almshouse.
AccommodationisprovidedintheHospitalofWilliamBrowne,anhistoricgradeII*listedbuildingin Stamford,
Lincolnshire.
```
```
ThehospitalwasfoundedbyWilliamBrowne,arichwoolmerchantofStamfordandbuiltin1475inthereign of
EdwardIV.Thehospitalwasestablishedasahomeandhouseofprayerforpoormenandwomenofthetime, and
today accommodates residents across its thirteen almshouses.
```
## **`Significant activities`**
## `Trustee meetings`
```
Thetrusteesmetformallyfourtimesduringtheyearinwhichtheyreviewedalltheoperationsofthe hospital.
Unfortunatelydueto the Covid19 Pandemicthe Marchmeetinghadto be conductedby emaildueto the lock down
rules and the June meeting was held in the gardenas per the GovernmentRules but only allowinga limited number of
Trusteestoattend.BoththeSeptemberandNovembermeetingswereheldindoorsbutwithsocialdistancing being
adhered to; this was also abiding by the new Government Rules which changed regularly due to the situation.
```
## `Maintenance charge`
```
TheMaintenanceChargeisreviewedannuallyanditwasconsideredthata£1perweekincreasewould be
implemented this year.
```
## `Lease of Wardens House and land at Easton on the Hill`
```
Browne'sHospitalwere in receiptof the first quarterpaymentfor the lease of the Warden'shouse before the tenants
handedinthekeyscompletingthehandovertoBrowne'sHospitalattheendofMarch2020.Theleaseholder had
givennoticethatshewouldnotberenewingthelease.Aspecialmeetingon29January2020wasarranged to
considerthewayforwardoncetheWarden'sHousewasvacated.AndrewLeech,RichardsonChartered Surveyors
advised the Trustees throughout the process.
```
```
Itwasclearfromtherecentlycompletedfiveyearlyinspectionreportandfromtheendofleasedilapidation survey
that the building needed significant attention and updating to meet present day Health and Safety regulations.
```
```
Page 1
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`OBJECTIVES AND ACTIVITIES`**
## `Asbestos Survey - Wardens House`
```
AnasbestossurveywasadvisedanddulycompletedfortheWardensHousewhichfoundthebuildingto have
minimumamountofasbestos.Noactionwasrequiredexcepttomakeanycontractorsawareoftheareasin the
buildingto be cautiousof.A copy of the survey was left in the Warden'sHouse to enablecontractorsto check before
anyworkwascarriedout.Emergencylightinghadtobeinstalled,guttersanddampissuesassociatedwiththe poor
conditionoftheguttersneededurgentattentionandthelightwelltotherearofthebuildingwasheavily infested
withpigeons.Noelectricalsurveyhadbeencarriedoutinthebuildingduringthe18 yearsthetenanthadheld this
leaseandwasdulyaddressed.Thetotalcostofgettingthebuildingtoareasonablestandardforre-lettingwas a
staggering£16,000plusVATandwasexpectedtoincreaseas utilitybillswerenowtheresponsibilityof the Hospital.
Together with the loss of income the total loss would be estimated to be at least £20,000.
```
## `New tenants - Wardens House`
```
A prospective tenant had been found but a delay had occurred due again to the Covid 19 Pandemic.
```
## `War Memorial`
```
TheMayorofStamford,CouncillorBillTurner,asreportedhadspokenabouttheissuesraisedbytheTown Council
regardingwaterseepingthroughthewalltotherearoftheWarMemorial.TheChairmanhadadvisedthat the
drainagehadbeencheckedandwasworkingcorrectlyandintheArchitect'sopinionwasdueto environmental
factors.This was agreedby the BritishLegion,the Mayoralsobeinga member,informedthe Trusteesthatthe cause
hadbeenacceptedandminorrepairswouldbecarriedouttothebottomoftheWarMemorialwhichwas not
attached to the wall.
```
## `Website/ Virtual Tour`
```
Thewebsitecontinuestoworkwell;asmallpaymentismadeeachyeartoDSquaredforhostingthesame. For
information the website address is www.browneshospital.co.uk
```
## `Interpretation Board`
```
OnconsultingwiththeArchitectitappearedthattheinstructionforthegroundworkstocompletethe installation
had been overlooked. It was hoped this would be completed in the coming months.
```
## `Risk Assessment Advice`
```
OntherecommendationofMirandaRock,ExOfficioTrustee,inrespectofriskmanagement,theservicesof a
consultantwasarrangedforJanuary2020.TheChairmanandClerkattendedameetingwithhim.Areport was
issuedwithanumberofrecommendationswhichhavebeendiligentlyaddressed.Todatethe'UrgentMatters' had
receivedattentionand'NecessaryActionPoint'weremostlyaddressed,'OngoingIssues'whichhadrecently been
discussedwouldalsobe completed.Gratefulthanksare expendedto Mrs Rock for makingthe Trusteesawareof this
servicewhichhasmadeBrowne'sHospitalasaferplacefortheResident'stolive.Browne'sHospitalwerenowup to
datewithHealthandSafetyPoliciesandwiththisverymuchintheforefrontatthetimeofthePandemic. Personal
Protective equipment had been purchased for use by Residents.
```
## `Automatic lighting`
```
AutomaticlightinghadbeeninstalledintheLaundryareaandrearentrance/exitpassagewayanddoor.These were
considered by Trustee Mr Exton to be essential for the safety of the residents.
```
```
Page 2
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`OBJECTIVES AND ACTIVITIES`**
## `Emergency Lighting`
```
Additionalemergencylightingwillbeinstalledfromtheresidentialareastotherelevantfireexits.A contractfor an
annual service will be awarded to Steve Rudkin Electrical Contractors.
```
## `Upgrade of One Further Bathroom`
```
TheresidentofFlat11hadrequestedanupgradetoherbathroomasshesaidshewouldfeelsaferwitha shower.
This had duly been completedand she was pleased with the result.To date only four residentsstill have a bath; these
would also be converted once vacant or if the resident requested it.
```
## `Chimney Sweep`
```
The chimney in the Board Room had not been swept this year due to the lack of use.All bookingsfor the Board Room
had been suspended until such time it is safe to continue.
```
## `Registration of Land, Easton on the Hill`
```
Mr Fluckis stillattemptingto registerthe landat Eastonon the Hillbuta discrepancywiththe smallerparcelof land
was halting the process.
```
## `Museum`
```
MrWallington,HonoraryCuratoroftheMuseumhadreceivedasmallnumberofvisitorsthroughthewinter which
helpedtowardsMuseumFunds.HoweverafterthenewsofthePandemicandtheGovernment'sdecision to
lockdownthecountrythroughoutMarchtoJunethedecisionhadbeenmadetoclosetheMuseumforthe Summer
Season. This was sad news as he had hoped to increase the opening times for the Summer season.
```
```
Afterhavingreportedin the lastTrusteesReportthatMr Wallingtonwishedto move forwardwiththe encapsulation
oftheimportantstainedglasswindowshehadsincebeenintouchwithboththeDioceseofLincolnandthe local
PlanningDepartment,SKDC.It wasagreedthata specialistArchitectwouldbe neededtoguidetheTrustees through
thisprocessandStephanieNorris,aCambridgeArchitecthadbeenappointed.Thereaftertheintentionwasto seek
grantsfor the workto the importantStainedGlass Windowsandto date he hadsecuredgrantsfrom The Harry Skells
Trust and Church Care.
```
```
MrWallingtonhadalsocompletedcataloguingtheArtefactsandhadreviewedthestorageofoldpaperworkin the
strong room. Trustees were grateful for the diligent work he had carried out.
```
## `Bookings`
```
ThePandemichadhaltedtheYogaClasseswhichhadbeensuspendedfromMarchtoJune,hadresumedfora short
time and been suspended yet again.
```
```
Understandably,withtheCoronaviruspandemic,Browne'sHospitalhavehadnorequeststousetheBalconyfor the
StamfordFestival,BattleofBritainSundayandRemembranceSunday.TheStamfordFestivalwascancelledand the
latter two held in a much smaller social distancing occasions.
```
```
Despite the above, overall income from rent and room hire has been maintained by the hospital.
```
## `Maintenance to the flagpole`
```
Page 3
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`OBJECTIVES AND ACTIVITIES`**
```
DifficultieswerestillbeingexperiencedwiththeFlagPole,havingononeoccasionbeenstuckonceagain.House of
flags had attended and advised that a new Halyard was required. This would be organised in the near future.
```
## `Summary`
```
Thishasprovedto havebeenan incrediblychallengingyearforthe Chairmanandthe Trustees.It is evidentthat the
PandemicfeaturesquiteheavilyinthisreportandevidentthatithasslowedtheplansfortheHospital down.
Howeverhelpfrom the Governmentwitha one off £10,000granthas helpedenormouslyandTrusteesare extremely
grateful to have received it.
```
```
Trusteesarealsopleasedtosaythatallourresidentshaveremainedhealthythroughoutthisperiodwhichis the
ultimate goal for the running of the Almshouse.
```
```
TheChairmanoftheBoardandTrusteesworktirelesslyforthebenefitoftheResidentsandtoensurethefuture of
the Hospital for many years to come.
```
## **`Public benefit reporting`**
```
Whenreviewingthecharitiesobjectivesandactivitiesandinplanningfutureactivitiesthetrusteeshave considered
the charity commission's general guidance on public benefit.
```
## **`Volunteers`**
```
Althoughvolunteersarenotwidelyusedbythecharitywithouttheirhelpovertheyearsthehospitalwould never
have been able to open to the public. The trustees also rely on the support and goodwill of a number of residents.
```
```
The maintenanceof the flower gardensand cleaningof the site continuesto be attendedto by Mr David Goodinson.
Mrs Waterfallcontinuedto keep some areas of the site clean and tidy and had taken upon herself to regularly sanitize
theareastouchedonaregularbasisbyresidentsandcontractors.TrusteesweregratefultoMrGoodinsonand Mrs
Waterfall for their voluntary contributions. An operative continued to cut the grass around the site.
```
## `Museum`
```
AswellasbeingaTrustee,MrDavidWallington,alsovolunteersasHonoraryCuratoroftheMuseumalongwith a
team of volunteers.
```
```
Thetrusteesaregratefulforthecontributionsmadetothecharitybyalloftheirvolunteersandthankallof the
volunteers for their hard work during the year.
```
## `Residents`
```
TheTrusteesweresaddenedtoreportthedeathinMarch2020oftheresidentinFlat1A.Ithadbeen previously
reportedto theTrusteesthatshe hadseriousissuescopingwithdaytodaytasksandreliedmainlyonher daughters
forsupport.Shehadenteredacarehomeshortlybeforeherdeath.Herfuneralwasconductedby,the Confrater
FatherMichaelRuff.Therelativesweregiventimetoemptytheflatasthelockdownhinderedthisprocessbut in
June 2020 the flat was empty and awaited upgrading before a new resident could reside in the flat.
```
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Charitable activities`**
```
The charity continues to provide sheltered accommodation through its thirteen almshouses.
```
## **`Fundraising activities`**
```
Thecharityderivesmostofitsincomefrominvestmentsandmaintenancechargestoalmshouseresidents.It also
derives income from pre-booked guided tours.
```
```
Page 4
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Investment performance`**
```
Thetrusteesarepleasedwiththecurrentperformanceoftheinvestmentsandbelievethattheyareachieving a
satisfactory level of both capital growth and income.
```
```
Thetrusteeshavethepowertoinvestinsuchassetsastheythinkfit.Reportsarecirculatedthroughouttheyear to
keep trustees informed of their progress.
```
## **`FINANCIAL REVIEW`**
## **`Principal funding sources`**
```
The charityrelies on the maintenancecharges and income from both propertyand listed investments.The charity has
benefitedfrom some significantdonationsand legacies in recent years which will leave the charityin a strong financial
position for the foreseeable future.
```
## **`Investment policy and objectives`**
```
Thetrusteeshavethepowertoinvestinsuchassetsastheyseefit.AlargecapitalsumhasbeeninvestedinM& G
underasubordinateaccounttitled'TheJohnPlumbBequest'inordertoringfencethefundsfor appropriate
expenditurein futureperiods.The chairmanhashaddiscussionswithvariousfinancialinstitutionsto ensurethe best
return on investments is achieved.
```
## **`Reserves policy`**
```
Thetrusteesareawarethattheyneedtomaintainunrestrictedfreereservesataleveltoprovidesufficientfunds to
cover operatingexpenditure.The trusteesconsiderthatthe charityshouldmaintainbetweenthree and six months of
unrestrictedfreereserves.Thecurrentunrestrictedfreereservesof£2,996,365(2019:£3,124,006)aremore than
sufficient to comply with this policy.
```
## **`FUTURE PLANS`**
## `Outside Toilets`
```
It had been hopedthatthe outsidetoiletswouldhave been refurbishedin the 2020 financialyear,unfortunately this
processhasbeenstalledbytheArchitectwhowasbusywithotherongoingprojects.Itishopedthatthiswill be
completed in the next financial year.
```
## `Toc H Room`
```
PlanstochangetheunusedTocHroomintoanadditionalflathasalsobeendelayedduetothe Pandemic.
DifficultieswithSKDCPlanningDepartmentwiththeirofficersworkingfromhomeandtheirlistedbuilding advisor
haveallcontributedtoextremelyslowprogress.ItishopedthatthePlanningApplicationandChangeof Use
Application will be granted soon.
```
```
The chairmanof the boardand the trusteeswork tirelesslyfor the benefitof the residentsand to ensure the future of
the Hospital for many years to come.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
ThecharityisgovernedinaccordancewithaschemeofthecharitycommissionersforEnglandandWalesdated 11
March1964,asvariedbyaschemedated15November1982,andasfurthervariedbyaschemedated29 February
1996.
```
```
Page 5
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Recruitment and appointment of new trustees and members`**
```
Ex-officio trustees are appointed by virtue of the office they hold.
```
```
Nominated trustees are appointed by Stamford Town Council.
```
```
Co-optative trustees are appointed by existing trustees on such terms as they may agree from time to time.
```
## `Death of Councillor Maxine Couch`
```
TheTrusteesnotedthatTheMayorofStamford,CouncillorMaxineCouchshouldhaveattendedherfirstmeeting as
Ex OfficioTrusteeon 25 June 2020 but sadlydied,after an illnessbravelyborne,priorto the meetingbeingheld. She
hadexpressedtotheChairmana keeninterestinBrowne'sHospitalandwaslookingforwardtobeinginvolved. The
Trustees were very sad to hear the news of her sudden death particularly as she felt she had so much more to achieve.
```
## `Death of Mr Phillip Heath`
```
TheTrusteeswerealsosadtoreportthedeathofPhilipHeath,aTrusteeforfiveyears,whohadresignedfrom his
postinmid-January,duetohisfailingheath.TheChairman,DrMitchell,hadsaidthathehadbrought valuable
Architectural skills to Browne's Hospital and was well liked, considerate and committed to Stamford.
```
## `Reappointment of Chairman`
```
On 22 June 2020 a special meeting was held to proposethat Dr John Mitchell,who due to the Pandemic,was working
as actingTrusteeandChairman,to be re-electedto bothpositions.Proposedby the Mr Exton,secondedby Mrs Rock
and unanimously agreed that he be re-elected to both positions.
```
## `Appointment of new comittee members`
```
In August2020the Trusteeswere notifiedthata new Mayorof Stamford,CouncillorWilliamTurner,hadbeen sworn
in;hewasalsokeentoattendthemeetingsatBrowne'sHospital.HewaswelcomedtotheCommitteeon 28
September and played an active role in respect of the on-going issues with the War Memorial.
```
```
AlsoinSeptembertheCommitteewelcomedFatherNeilShaw,RectorofAllSaintsChurch,asExOfficiomember as
per the Schemes of the Hospital.
```
## **`Organisational structure`**
```
Thetrusteesmeetregularlytomakedecisionsrelatingtothecharity.Alltrusteesgivetheirtimefreelyand no
remuneration or expenses were paid. The day-to-day running of the charity is delegated to the clerk.
```
## **`Induction and training of new trustees`**
```
The training and induction for new trustees will depend on their existing experience.
```
## **`Risk management`**
```
Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate
controlsareinplacetoprovidereasonableassuranceagainstfraudanderror.Thetrusteescontinuetomonitor and
review the risks and instigate controls as exercise appropriate.
```
```
TheriskassessmentregisterwastotallyreviewedbytrusteeMichaelExtonandtheclerk.Thetrusteescontinue to
workthroughthe'StandardofAlmshouseManagementmanual'andhavebeenmodifying,implementing and
approvingthemodelpoliciesinorderthattheymeettherequirementsofanefficientorganisation.Theprocess is
ongoing and will be for some time to accommodate changing legislation.
```
```
Page 6
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number`**
```
221428
```
## **`Principal address`**
```
Mrs Carol Garwell
19 Downing Crescent
Stamford
Lincolnshire
PE9 1JD
```
## **`Trustees`**
```
Mrs M Rock
M Exton
Dr J Mitchell
D Wallington
M P K Walmsley
A Croft
```
## **`Independent Examiner`**
```
Mark Hindmarch BSc ACA
Duncan & Toplis Limited
14 All Saints Street
Stamford
Lincolnshire
PE9 2PA
```
```
Approved by order of the board of trustees on 30 June 2021 and signed on its behalf by:
```
```
Dr J Mitchell - Trustee
```
```
Page 7
```
## **`INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HOSPITAL OF WILLIAM BROWNE`**
## **`Independent examiner's report to the trustees of The Hospital of William Browne`**
```
I reporttothecharitytrusteesonmyexaminationoftheaccountsofTheHospitalofWilliamBrowne(theTrust) for
the year ended 31 December 2020.
```
## **`Responsibilities and basis of report`**
```
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
```
```
I reportin respectof my examinationof the Trust'saccountscarriedoutundersection145 of the Act andin carrying
out my examinationI have followedall applicableDirectionsgiven by the CharityCommissionundersection 145(5)(b)
of the Act.
```
## **`Independent examiner's statement`**
```
I havecompletedmy examination.I confirmthatnomaterialmattershavecometomy attentioninconnection with
the examination giving me cause to believe that in any material respect:
```
`1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or`
`2. the accounts do not accord with those records; or`
`3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.`
```
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
```
```
Mark Hindmarch BSc ACA
Duncan & Toplis Limited
14 All Saints Street
Stamford
Lincolnshire
PE9 2PA
```
```
30 June 2021
```
```
Page 8
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020`**
|`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
**`Charitable activities`**
`4`
`Almshouses`
`Museum`
`Investment income`
`3`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
`5`
**`Charitable activities`**
`6`
`Almshouses`
`Museum`
`Other`
**`Total`**
`Net gains/(losses) on investments`
**`NET INCOME/(EXPENDITURE)`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`funds`
`£`
`10,000`
`46,126`
`317`
`17,654`
`74,097`
`-`
`74,405`
`127`
`35,469`
`110,001`
`(91,737)`
`(127,641)`
`3,124,006`
`2,996,365`|`Restricted`
`fund`
`£`
`57`
`-`
`-`
`13`
`70`
`67`
`-`
`-`
`-`
`67`
`-`
`3`
`11,563`
`11,566`|`2020`
`Total`
`funds`
`£`
`10,057`
`46,126`
`317`
`17,667`
`74,167`
`67`
`74,405`
`127`
`35,469`
`110,068`
`(91,737)`
`(127,638)`
`3,135,569`
`3,007,931`|`2019`
`Total`
`funds`
`£`
`4,468`
`47,566`
`2,837`
`29,501`|
|---|---|---|---|---|
|||||`84,372`
`30`
`21,011`
`780`
`92,141`|
|||||`113,962`
`317,928`|
|||||`288,338`
`2,847,231`|
|||||`3,135,569`|
```
The notes form part of these financial statements
```
```
Page 9
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2020`**
|`Notes`
**`FIXED ASSETS`**
`Heritage assets`
`10`
**`Investments`**
`Investments`
`11`
`Investment property`
`12`
**`CURRENT ASSETS`**
`Debtors`
`13`
`Cash at bank`
**`CREDITORS`**
`Amounts falling due within one year`
`14`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`16`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|`2020`
`£`
`400,000`
`2,080,541`
`450,000`
`2,930,541`
`7,792`
`92,525`
`100,317`
`(22,927)`
`77,390`
`3,007,931`
`3,007,931`
`2,996,365`
`11,566`
`3,007,931`|`2019`
`£`
`400,000`
`2,160,277`
`450,000`|
|---|---|---|
|||`3,010,277`
`5,760`
`140,004`|
|||`145,764`
`(20,472)`|
|||`125,292`|
|||`3,135,569`|
|||`3,135,569`|
|||`3,124,006`
`11,563`|
|||`3,135,569`|
```
The financialstatementswere approvedand authorisedfor issue by the Board of Trustees and authorisedfor issue on
30 June 2021 and were signed on its behalf by:
```
```
J Mitchell - Trustee
```
```
The notes form part of these financial statements
```
```
Page 10
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`1. ACCOUNTING POLICIES`**
## **`Basis of accounting`**
```
The financialstatementsof thecharity,whichis a publicbenefitentityunderFRS 102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
CharitiesAct 2011. The financialstatementshave been preparedunder the historicalcost convention,with the
exception of investments which are included at market value, as modified by the revaluation of certain assets.
```
```
The presentation currency of the financial statements is the pound sterling (£).
```
## **`Income`**
```
All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds,
it is probable that the income will be received and the amount can be measured reliably.
```
## **`Expenditure`**
```
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.
```
## **`Allocation and apportionment of costs`**
```
Supportservicecostsareallocatedtothecostsofgeneratingfunds,charitableactivitiesandgovernance on
the basis of time spent by the support service.
```
## **`Heritage assets`**
```
Thefreeholdproperty,notheldforinvestmentpurposes,comprisestheChapel,Cloisters, Medieval
BoardroomandAlmshouses.Thesebuildingscontainmanyoriginalfeaturesandanumberof historical
artefacts.Thetrusteeshavegivencarefulconsiderationtotherequirementunderaccountingstandards to
includethefreeholdproperty,notheldforinvestmentpurposes,anditshistoricalartefactsinthe financial
statements at valuation.
```
```
Aprofessionalvaluationofthefreeholdpropertywasundertakenon9April2009byRichardOakley ARICS.
This valuationwas reviewed by Paul JohnsonFNAEA who concludedthat as at February2010 the value had not
significantlychanged.In the opinionof the trusteesthe market value of the freeholdpropertyat 31 December
2020wasnotsignificantlydifferentfromthisvaluation.Thevaluationof£400,000thereforeremainsthe one
used for these accounts.
```
```
However,thenatureofthepropertymeansconventionalvaluationapproacheslackreliabilityand this
valuation is subject to a high degree of uncertainty for several reasons:
```
```
- There is no open market for properties of this type.
```
```
- The propertyis fundamentalto the existenceof the charityandthe trusteeswouldneversell the property.
Accordingly any valuation based on annual rental / maintenance income is not wholly relevant.
```
```
-ThegradeII*listedstatusofthepropertymeansanybuyerwouldbeundertakingamajorcommitment to
maintainthe propertyin good repairand any purchaseprice would reflect that commitmentand therefore be
relatively low as a result.
```
```
continued...
```
```
Page 11
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`1. ACCOUNTING POLICIES - continued`**
## **`Heritage assets`**
```
The originalhistoricalartefactshavenotbeenincludedat valuationas it wouldbe undulycostlyto undertake
suchanexercise.Includedinthesehistoricalartefactsareitemsofantiquefurniturewhichthetrustees are
prohibitedfromdisposingof.Thusasabovethenatureofthehistoricalartefactsmeans conventional
valuationapproacheslackreliabilityandanyvaluationwouldbesubjecttoahighdegreeofuncertainty. Any
historicalartefactssubsequentlypurchasedbythecharityareincludedatcost,orvaluationinthecase of
donated items.
```
## **`Preservation costs - facilities modernisation, repairs, conversion and restoration`**
```
TheHospitalhasarollingprogrammeofmaintenanceandmodernisationofaccommodationfacilitiesfor its
occupants and accordingly the property is maintained in good order.
```
```
Expenditurewhich,inthetrusteesview,isrequiredtopreserveorpreventfurtherdeteriorationof individual
items,includingpreservationworkontheHospital,isrecognisedasanexpenseintheStatementof Financial
Activitieswhenitisincurred,inaccordancewiththeaccountingpolicysetoutonpage11ofthese financial
statements.
```
```
Fortheabovereasons,thepropertyisconsideredtohaveanindeterminatelifeanddepreciationis not
therefore provided on the property.
```
## **`Investment property`**
```
Investmentpropertyisshownatitsmostrecentvaluation.Anyaggregatesurplusordeficitarising from
changes in fair value is recognised in the Statement of Financial Activities.
```
## **`Financial instruments`**
```
The charity has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.
```
```
Basicfinancialassets,includingtradeandotherdebtorsandcash andbankbalancesare initiallyrecognised at
transactionprice,unlessthearrangementconstitutesafinancingtransaction,wherethetransaction is
measured at the present value of the future receipts discounted at a market rate of interest.
```
```
Attheendofeachreportingperiodfinancialassetsmeasuredatamortisedcostareassessedfor objective
evidenceofimpairment.Ifanassetisimpairedtheimpairmentlossisthedifferencebetweenthe carrying
amountandthepresentvalueof theestimatedcashflowsdiscountedattheasset'soriginaleffective interest
rate. The impairment loss is recognised in profit or loss.
```
```
Otherfinancialassets,includinginvestmentsinequityinstrumentswhicharenotsubsidiaries,associates or
joint ventures, are initially measured at fair value, which is normally the transaction price.
```
```
Suchassetsaresubsequentlycarriedatfairvalueandthechangesinfairvaluearerecognisedinthe income
statement,exceptthatinvestmentsin equityinstrumentsthatare notpublicallytradedandwhosefair values
cannot be measured reliably are measured at cost less impairment.
```
```
Financialassets are derecognisedwhen (a) the contractualrightsto the cash flows from the asset expire or are
settled,or(b)substantiallyalltherisksandrewardsoftheownershipoftheassetaretransferredto another
partyor(c)controloftheassethasbeentransferredtoanotherpartywhohasthepracticalability to
unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
```
```
Basic financialliabilities,includingtradeand othercreditorsare initiallyrecognisedat transactionprice, unless
thearrangementconstitutesafinancingtransaction,wherethedebtinstrumentismeasuredatthe present
value of the future receipts discounted at a market rate of interest.
```
```
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
```
```
continued...
```
```
Page 12
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`1. ACCOUNTING POLICIES - continued`**
## **`Investment property`**
```
Tradecreditorsareobligationstopayforgoodsorservicesthathavebeenacquiredintheordinarycourse of
businessfrom suppliers.Accountspayableare classifiedas currentliabilitiesif paymentis due withinone year
orless.Ifnot,theyarepresentedasnon-currentliabilities.Tradecreditorsarerecognisedinitially at
transaction price and subsequently measured at amortised cost using the effective interest method.
```
## **`Taxation`**
```
The charity is exempt from tax on its charitable activities.
```
## **`Fund accounting`**
```
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
```
```
Designatedfundsarefundssetasidebythetrusteesoutofunrestrictedfundsforspecificfuturepurposes or
projects.
```
```
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
```
```
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
```
## **`Hire purchase and leasing commitments`**
```
Rentalspaidunderoperatingleases are chargedto the Statementof FinancialActivitieson a straightline basis
over the period of the lease.
```
## **`Debtors`**
```
Debtors are measured at their recoverable amount.
```
## **`Creditors`**
```
Creditorsaremeasuredattheirsettlementamountorinthecaseofprovisionforliabilitiesthebest estimate
of their settlement amount.
```
## **`Listed investments`**
```
Fixed asset investments represent long term investments and are stated at fair value.
```
## **`Critical accounting judgements and estimation uncertainty`**
```
In the applicationof the charity'saccountingpolicies,managementis requiredto make judgements, estimates
andassumptionsaboutthecarryingvalueofassetsandliabilitiesthatarenotreadilyapparentfrom other
sources.The estimatesandunderlyingassumptionsarebasedonhistoricalexperienceandotherfactors that
are considered to be relevant. Actual results may differ from these estimates.
```
```
Theestimatesandunderlyingassumptionsarereviewedonanongoingbasis.Revisionsto accounting
estimatesarerecognisedintheperiodinwhichtheestimateis revisedif therevisionaffectsonlythat period,
or in the period of the revision and future periods if the revision affects both current and future periods.
```
```
Thekeysourcesofestimationuncertaintythathaveasignificanteffectontheamountsrecognisedin the
financial statements are described below.
```
## **`Investment property`**
```
Theinvestmentpropertiesarestatedatfairvaluebasedonthevaluationsperformedbythetrustees. The
trusteesusedobservablemarketpricesandrentalyieldsadjustedasnecessaryforanydifferencesin the
future, location or condition of the specific asset.
```
```
continued...
```
```
Page 13
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`1. ACCOUNTING POLICIES - continued`**
## **`Debtors`**
## **`Government grants`**
```
Governmentgrantsare recognisedwhen there is reasonableassurancethat the grantwill be receivedand any
conditionsattachedwillbecompliedwith.Grantsarerecognisedasincomeovertheperiodnecessary to
matchthemwithrelatedcostsorlostincome,forwhichtheyareintendedtocompensate,ona systematic
basis.
```
## **`2. DONATIONS AND LEGACIES`**
|**`DONATIONS AND LEGACIES`**|||
|---|---|---|
|`Donations`
`Grant for clock repairs`
`Government grant`|`2020`
`£`
`57`
`-`
`10,000`
`10,057`|`2019`
`£`
`1,202`
`3,266`
`-`|
|||`4,468`|
```
Government grants relate to the Small Business Grant Fund.
```
## **`3.`**
## **`INVESTMENT INCOME`**
|`Rents received from wardens house`
`Rent and room hire`
`Dividends on listed investment`
`Deposit account interest`|`2020`
`£`
`3,750`
`3,518`
`10,360`
`39`
`17,667`|`2019`
`£`
`15,000`
`3,368`
`11,034`
`99`|
|---|---|---|
|||`29,501`|
**`4.`**
## **`INCOME FROM CHARITABLE ACTIVITIES`**
|**`INCOME FROM CHARITABLE ACTIVITIES`**|||||
|---|---|---|---|---|
||||`2020`|`2019`|
||||`Total`|`Total`|
||`Almshouses`|`Museum`|`activities`|`activities`|
||`£`|`£`|`£`|`£`|
|`Maintenance charges to almshouse`|||||
|`residents`|`46,126`|`-`|`46,126`|`47,566`|
|`Entrance fees to museum`|`-`|`317`|`317`|`2,837`|
||`46,126`|`317`|`46,443`|`50,403`|
```
continued...
```
```
Page 14
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`5. RAISING FUNDS`**
```
Raising donations and legacies
```
|`Flowers for chapel`
**`6.`**
**`CHARITABLE ACTIVITIES COSTS`**
`Almshouses`
`Museum`
**`7.`**
**`SUPPORT COSTS`**
`Other resources expended`
`Almshouses`
`Museum`|`2020`
`£`
`67`
`Support`
`Direct`
`costs (see`
`Costs`
`note 7)`
`£`
`£`
`23,931`
`50,474`
`-`
`127`
`23,931`
`50,601`
`Governance`
`Other`
`costs`
`£`
`£`
`18,624`
`16,165`
`50,474`
`-`
`127`
`-`
`69,225`
`16,165`|`2019`
`£`
`30`
`Totals`
`£`
`74,405`
`127`|
|---|---|---|
|||`74,532`|
|||`Totals`
`£`
`34,789`
`50,474`
`127`|
|||`85,390`|
## **`8. TRUSTEES' REMUNERATION AND BENEFITS`**
```
There were no trustees'remunerationor other benefitsfor the year ended 31 December 2020 nor for the year
ended 31 December 2019.
```
## **`Trustees' expenses`**
```
Therewerenotrustees'expensespaidfortheyearended31December2020norfortheyear ended
31 December 2019.
```
```
continued...
```
```
Page 15
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`9. STAFF COSTS`**
```
The average monthly number of employees during the year was as follows:
```
|`Administration`
`Gardener`|`2020`
`1`
`-`
`1`|`2019`
`1`
`1`|
|---|---|---|
|||`2`|
```
No employees received emoluments in excess of £60,000.
```
## **`10. HERITAGE ASSETS`**
```
Heritageassetsaredefinedastangiblepropertywithhistoricalandartisticimportancethatareheld to
advancepreservation,conservationandtheeducationalobjectivesofthecharity.Thetrusteesconsider its
freeholdproperty,notheldforinvestmentpurposesbeingtheChapel,Cloisters,MedievalBoardroom and
Almshouses, and its historical artefacts, held for preservation to fall within this definition.
```
```
A professionalvaluationof the freeholdpropertywas undertakenon 9 April2009by RichardOakleyARICS. In
theopinionofthetrusteesthemarketvalueat31December2020wasnotsignificantlydifferentfrom this
valuation. The valuation of £400,000 therefore remains the one used for these accounts.
```
```
Thecharityalsoownsanumberofhistoricalartefacts,giftedtothecharitybyWilliamBrownein 1475.
Includedinthesehistoricalartefactsareitemsofantiquefurniture.Thetrusteesarerequiredbytrustlaw to
retain these assets indefinitely and they are effectively prohibited from disposing of them.
```
```
Giventhenatureofthefurnitureandtherestrictionsandintentionsregardingitssalethetrusteesfeelit is
impracticalto place a market value on it by applyingconventionalvaluationtechniques.The insurancevalue of
the furniture is £182,412 (2019 - £179,011).
```
## **`11. FIXED ASSET INVESTMENTS`**
|**`MARKET VALUE`**
`At 1 January 2020`
`Additions`
`Revaluations`
`At 31 December 2020`
**`NET BOOK VALUE`**
`At 31 December 2020`
`At 31 December 2019`|`Listed`
`investments`
`£`
`2,160,277`
`12,001`
`(91,737)`
`2,080,541`
`2,080,541`
`2,160,277`|
|---|---|
```
There were no investment assets outside the UK.
```
```
continued...
```
```
Page 16
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`12. INVESTMENT PROPERTY`**
|**`INVESTMENT PROPERTY`**||
|---|---|
|**`FAIR VALUE`**
`At 1 January 2020`
`and 31 December 2020`
**`NET BOOK VALUE`**
`At 31 December 2020`
`At 31 December 2019`|`£`
`450,000`|
||`450,000`|
||`450,000`|
```
Included in investment property is freehold land valued at £150,000 (2019 - £150,000).
```
```
The investmentpropertycomprisesthe WardensHouseand19.96acresof landat Eastonon the Hilland was
revaluedbyRichardsonCharteredSurveyorsin2018.Thetrusteesusedmarketbasedevidenceand rental
yields in the local area to establishthe fair value of the investmentproperty.In the opinionof the trustees the
market value of the investment property at 31 December 2020 is not significantly different from this valuation.
```
## **`13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
|`Other debtors and prepayments`
**`14.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade creditors`
`Other creditors`|`2020`
`£`
`7,792`
`2020`
`£`
`19,349`
`3,578`
`22,927`|`2019`
`£`
`5,760`
`2019`
`£`
`12,727`
`7,745`|`2019`
`£`
`5,760`|
|---|---|---|---|
|||`20,472`||
## **`15. ANALYSIS OF NET ASSETS BETWEEN FUNDS`**
|**`ANALYSIS OF NET ASSETS BETWEEN FUNDS`**|||||
|---|---|---|---|---|
|`Fixed assets`
`Investments`
`Current assets`
`Current liabilities`|`Unrestricted`
`funds`
`£`
`400,000`
`2,530,541`
`88,751`
`(22,927)`
`2,996,365`|`Restricted`
`fund`
`£`
`-`
`-`
`11,566`
`-`
`11,566`|`2020`
`Total`
`funds`
`£`
`400,000`
`2,530,541`
`100,317`
`(22,927)`
`3,007,931`|`2019`
`Total`
`funds`
`£`
`400,000`
`2,610,277`
`145,764`
`(20,472)`|
|||||`3,135,569`|
```
continued...
```
```
Page 17
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`16. MOVEMENT IN FUNDS`**
|**`Unrestricted funds`**
`Main fund`
`Cyclical repair fund`
`Extraordinary repair fund`
**`Restricted funds`**
`Chapel fund`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are a`
**`Unrestricted funds`**
`Main fund`
`Cyclical repair fund`
`Extraordinary repair fund`
**`Restricted funds`**
`Chapel fund`
**`TOTAL FUNDS`**
**`Comparatives for movement in funds`**
**`Unrestricted funds`**
`Main fund`
`Cyclical repair fund`
`Extraordinary repair fund`
**`Restricted funds`**
`Chapel fund`
**`TOTAL FUNDS`**|`s follows:`
`Incoming`
`resources`
`£`
`74,084`
`13`
`-`
`74,097`
`70`
`74,167`|`At 1.1.20`
`£`
`2,869,151`
`4,106`
`250,749`
`3,124,006`
`11,563`
`3,135,569`
`Resources`
`expended`
`£`
`(110,001)`
`-`
`-`
`(110,001)`
`(67)`
`(110,068)`
`At 1.1.19`
`£`
`2,621,516`
`4,073`
`210,220`
`2,835,809`
`11,422`
`2,847,231`||`Net`
`movement`
`in funds`
`£`
`(119,386)`
`13`
`(8,268)`
`(127,641)`
`3`
`(127,638)`
`Gains and`
`losses`
`£`
`(83,469)`
`-`
`(8,268)`
`(91,737)`
`-`
`(91,737)`
`Net`
`movement`
`in funds`
`£`
`247,635`
`33`
`40,529`
`288,197`
`141`
`288,338`|`At`
`31.12.20`
`£`
`2,749,765`
`4,119`
`242,481`
`2,996,365`
`11,566`
`3,007,931`
`Movement`
`in funds`
`£`
`(119,386)`
`13`
`(8,268)`
`(127,641)`
`3`
`(127,638)`
`At`
`31.12.19`
`£`
`2,869,151`
`4,106`
`250,749`
`3,124,006`
`11,563`
`3,135,569`|
|---|---|---|---|---|---|
|||||||
|||||||
|||||||
|||||||
|||||||
```
continued...
```
```
Page 18
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`16. MOVEMENT IN FUNDS - continued`**
```
Comparative net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`Main fund`
`Cyclical repair fund`
`Extraordinary repair fund`
**`Restricted funds`**
`Chapel fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`84,168`
`33`
`-`
`84,201`
`171`
`84,372`|`Resources`
`expended`
`£`
`(113,932)`
`-`
`-`
`(113,932)`
`(30)`
`(113,962)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`277,399`
`247,635`
`-`
`33`
`40,529`
`40,529`
`317,928`
`288,197`
`-`
`141`
`317,928`
`288,338`|
|---|---|---|---|
```
A current year 12 months and prior year 12 months combined position is as follows:
```
|**`Unrestricted funds`**
`Main fund`
`Cyclical repair fund`
`Extraordinary repair fund`
**`Restricted funds`**
`Chapel fund`
**`TOTAL FUNDS`**|`At 1.1.19`
`£`
`2,621,516`
`4,073`
`210,220`
`2,835,809`
`11,422`
`2,847,231`|`Net`
`movement`
`in funds`
`£`
`128,249`
`46`
`32,261`
`160,556`
`144`
`160,700`|`At`
`31.12.20`
`£`
`2,749,765`
`4,119`
`242,481`|
|---|---|---|---|
||||`2,996,365`
`11,566`|
||||`3,007,931`|
```
continued...
```
```
Page 19
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`16. MOVEMENT IN FUNDS - continued`**
```
A currentyear12 monthsandprioryear12 monthscombinednetmovementinfunds,includedinthe above
are as follows:
```
|**`Unrestricted funds`**
`Main fund`
`Cyclical repair fund`
`Extraordinary repair fund`
**`Restricted funds`**
`Chapel fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`158,252`
`46`
`-`
`158,298`
`241`
`158,539`|`Resources`
`expended`
`£`
`(223,933)`
`-`
`-`
`(223,933)`
`(97)`
`(224,030)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`193,930`
`128,249`
`-`
`46`
`32,261`
`32,261`
`226,191`
`160,556`
`-`
`144`
`226,191`
`160,700`|
|---|---|---|---|
```
All reserves in the main fund are classified as unrestricted.
```
```
Allreservesinthecyclicalrepairfundareclassifiedasunrestrictedbutdesignatedbythetrusteesto provide
for long-term maintenance of the charity's properties.
```
```
All reserves in the extraordinaryrepairfund are classifiedas unrestrictedbut are designatedby the trustees to
provide for extraordinary repairs.
```
```
Allreservesinthechapelfundareclassifiedasrestrictedandfortheongoingmaintenanceofthechapel and
its fittings.
```
## **`17. RELATED PARTY DISCLOSURES`**
```
There were no related party transactions for the year ended 31 December 2020 or 31 December 2019.
```
## **`18. ULTIMATE CONTROLLING PARTY`**
```
The charity is controlled by the board of trustees.
```
## **`19. FINANCIAL INSTRUMENTS`**
```
The charity has the following financial instruments:
```
||`2020`|`2019`|
|---|---|---|
||`£`|`£`|
|**`Financial assets at fair value through profit or loss`**|||
|`Listed investments`|`2,080,541`|`2,160,277`|
|**`Financial assets that are debt instruments measured at amortised cost`**|||
|`Other debtors`|`7,792`|`5,760`|
|**`Financial liabilities measured at amortised cost`**|||
|`Trade creditors`|`19,349`|`12,727`|
|`Other creditors`|`3,578`|`7,745`|
```
continued...
```
```
Page 20
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020`**
## **`19. FINANCIAL INSTRUMENTS - continued`**
```
The income,expenses,net gains and net losses attributablethe charity'sfinancialinstrumentsare summarised
as follows:
```
|`Income and expense`|`2020`|`2019`|
|---|---|---|
||`£`|`£`|
|`Financial assets measured at fair value through profit or loss`|`10,360`|`11,034`|
|`Net gains and losses`|||
|`Financial assets measured at fair value through profit or loss`|`(91,737)`|`317,928`|
```
Thetotalinterestincomeandinterestexpenseforfinancialassetsandfinancialliabilitiesthatare not
measuredat fairvaluethroughthe statementof financialactivitieswas £nil(2019- £nil)and£nil(2019- £nil)
respectively.
```
## **`Listed investments`**
```
Thecharityhasanumberoflistedinvestments.Thevaluationsarebasedonrecenttransactionsand are
determined by the investment managers being M & G Charities, Invesco Perpetual, Barclays and BlackRock.
```
## **`20. INDEPENDENT EXAMINER'S FEE`**
```
Theindependentexaminationfee chargedfortheyearwas£1,500(2019:£1,000).Otherservicesprovided to
thecharitybytheindependentexaminerrelatedtoaccountspreparationservicesforwhich£2,580 (2019:
£2,000) was charged.
```
```
Page 21
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020`**
|**`INCOME AND ENDOWMENTS`**
**`Donations and legacies`**
`Donations`
`Grant for clock repairs`
`Government grant`
**`Investment income`**
`Rents received from wardens house`
`Rent and room hire`
`Dividends on listed investment`
`Deposit account interest`
**`Charitable activities`**
`Maintenance charges to almshouse residents`
`Entrance fees to museum`
**`Total incoming resources`**
**`EXPENDITURE`**
**`Raising donations and legacies`**
`Flowers for chapel`
**`Charitable activities`**
`Care line`
`Cleaning and gardening`
`Architect and surveyor fees`
**`Other`**
`Subscriptions`
`Gifts and donations`
**`Support costs`**
**`Other`**
`Repairs and renewals`
`Carried forward`|`2020`
`£`
`57`
`-`
`10,000`
`10,057`
`3,750`
`3,518`
`10,360`
`39`
`17,667`
`46,126`
`317`
`46,443`
`74,167`
`67`
`3,791`
`940`
`19,200`
`23,931`
`310`
`370`
`680`
`45,111`
`45,111`|`2019`
`£`
`1,202`
`3,266`
`-`|
|---|---|---|
|||`4,468`
`15,000`
`3,368`
`11,034`
`99`|
|||`29,501`
`47,566`
`2,837`|
|||`50,403`|
|||`84,372`
`30`
`1,687`
`1,917`
`12,488`|
|||`16,092`
`300`
`370`|
|||`670`
`48,938`
`48,938`|
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```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020`**
|**`Other`**
`Brought forward`
`Rates and water`
`Insurance`
`Light and heat`
`Telephone`
`Website/virtual tours`
`Sundries`
`Office costs`
**`Governance costs`**
`Professional fees`
`Accountancy`
`Salary - administration`
`Total resources expended`
**`Net expenditure`**|`2020`
`£`
`45,111`
`690`
`11,096`
`9,351`
`870`
`-`
`1,102`
`1,005`
`69,225`
`7,085`
`4,080`
`5,000`
`16,165`
`110,068`
`(35,901)`|`2019`
`£`
`48,938`
`2,077`
`8,803`
`11,133`
`1,020`
`957`
`1,218`
`1,908`
`76,054`
`12,406`
`3,960`
`4,750`
`21,116`
`113,962`
`(29,590)`|
|---|---|---|
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Page 23
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