```
REGISTERED CHARITY NUMBER: 221428
```
## **`REPORT OF THE TRUSTEES AND`**
```
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
```
```
FOR
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023`**
|||**`Page`**||
|---|---|---|---|
|**`Report of the Trustees`**|`1`|`to`|`8`|
|**`Independent Examiner's Report`**||`9`||
|**`Statement of Financial Activities`**||`10`||
|**`Statement of Financial Position`**||`11`||
|**`Notes to the Financial Statements`**|`12`|`to`|`20`|
|**`Detailed Statement of Financial Activities`**|`21`|`to`|`22`|
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023`**
```
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31December2023.The trustees
have adopted the provisionsof Accountingand Reportingby Charities:Statementof RecommendedPracticeapplicableto charities
preparing their accountsin accordancewith the FinancialReportingStandard applicablein the UK and Republic of Ireland (FRS 102)
(effective 1 January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objectives and aims`**
```
Theaimofthecharityistoprovideshelteredalmshouseaccommodationforpersonsofgoodcharacterwhoareinconditions of
need, hardshipor distress.The aim is achievedby running thirteen shelteredunits in an almshouse.Accommodationis provided in
The Hospital of William Browne, a historic grade II* listed building in Stamford, Lincolnshire.
```
```
ThehospitalwasfoundedbyWilliamBrowne,arichwoolmerchantofStamfordandbuiltin1475inthereignofEdwardIV. The
hospitalwas establishedas a home and house of prayerfor poormen and womenof the time and todayaccommodates residents
across its thirteen almshouses.
```
## **`Significant activities`**
## `Trustee meetings`
```
The trustees met formally four times during the year in which they reviewed all the operations of the hospital.
```
## `Maintenance and utility charges`
```
AsperthescheduletheweeklymaintenancechargeisreviewedeveryyearatthequarterlymeetinginJune.Thisreview,as last
year,provedtobechallengingasanewsupplierforelectricityhadbeensoughtinMayasof2024anewcontractwouldalso be
needed for gas. Additionally, repairs were becoming more costly with high and rising inflation.
```
```
Reluctantlyit wasagreedthatthe gaschargecurrentlyat £11 per weekwouldneed to be raisedto £16,waterfrom£4 to £6 and
the weekly maintenance charge would have to increase by £2 per week. A total increase for the residents of £9 per week.
```
```
The increase took effect from the first Monday in September 2023.
```
## `Custodian/Caretaker`
```
As per the last annualreportthe formercustodian/caretakerhad resignedfrom his positiondue to ill health.Interviewsfor a new
post holder took place in November2022. The new custodian/caretakermoved into Flat 12 at the end of January2023 and started
hisnewpositiononFebruary12023.Thepreviousoccupanthadlefttheflatinexcellentconditionandnoremedialwork was
needed.
```
```
There was an interim period with no resident custodian/caretaker.Gratefulthanks are again extended to the occupantof Flat 1 for
her help in securingthe site in the eveningsand DavidGoodinsonfor his assistancewith the day to day runningof the almshouses
during this time.
```
```
Thenewcustodian/caretakerhassettledintohisnewjobexceptionallywellandhasalreadymademanyimprovementsto the
gardenandthesiteingeneral.Heisagreathelpwiththedaytodayrunningofthesite,thesecurityoftheresidentsandis well
liked by all.
```
```
Page 1
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`OBJECTIVES AND ACTIVITIES`**
## `Cloister roof and wall`
```
ItwasnotedinthepreviousyearthatthesubsidenceoftheCloisterwalloccurredon5August2022.Movementofthewall was
considereddue to combinationof historiclateral movement and more recent movement caused by shrinking of the clay foundation
due to an exceptionally hot and dry summer and the moisture demands of nearby vegetation.
```
```
Themitigationprocesshadnowconcludedwiththeco-operationofnearbyneighbours.Allthevegetation(bushesand trees)
thoughttobeafactorinthesubsidencehadbeenremovedorreducedinsize.Periodicvisitsfromacrackengineerchecking for
newmovementwereallfoundtobesatisfactoryindicatingthatstabilityhasreturned.ArequesttoreopentheCloister for
residents' use was agreed after some additional propping was positioned.
```
```
It is hoped that the repairs will be completed and the final report issued before the end of 2024.
```
```
The insurance company has reimbursed Browne's Hospital for the continued hire of the acrow props and for loss of income.
```
## `Emergency call system`
```
Thetrusteesrecognisedthatduetoamovetoadigitaltelephonesystemsthecurrentsystemanaloguesystemwouldsoon be
redundant.AfterconsultingwithAngloIntegratedSystems,newdigitallifelineequipmentwasinstalledwith24/7 monitoring.
Maintenance/replacementof all equipment/changingbatteriesand annualcheckof equipmentis nowon a rentalagreement with
Anglo but there is still a need to keep Lincare, the telephone monitoring agency, up-to-date with residents' information.
```
## `Automatic light to the entrance door`
```
An automaticlighthasbeen installedto the entranceofthe mainfrontdoor.Thiswasnecessaryto highlightthe smallstep which
could not be seen when it was dark despite being highlighted by painting the tip of the step in white.
```
## `Stained glass windows`
```
Thechairmanwaspleasedtoreportthatthestainedglasswindowprojecthadbeensuccessfullycompletedandatotal of
£64,288.18hadbeenraisedthankstothemonumentaleffortsoftrusteeandcuratorofthemuseum,MrDavidWallington. The
chairman,Dr John Mitchell,had also applied for gift aid which had proved successfuland Mr David Wallingtonhad also successfully
appliedforthe returnofthe VATforthe chapelcostsonly.Thetotalcostofthe restorationwas£89,822.Thetrusteeshadto pay
the shortfall of costs to the sum of £25,533 but small amounts of money were still being donated from the tours and visitors.
```
## `Archives`
```
The curatorof the museumalsospokeof the archivematerialwhichhad been returnedto Browne'sHospitalfromthe archives at
Lincoln.He was concernedthat the conditionswere not suitableand that the materialwould be better returned to Lincoln.He was
also looking for a permanent home for all the archive material.
```
## `Quinquennial inspection`
```
MrPeterSlinger,architect,hadbeenaskedbytheboardtoconductthequinquennialinspectionwhichwasduein2023.He had
startedonJuly192023andhadproducedaverythorough75pagedocumenthighlightingissuesthatneededattention urgently
and issues advised but not needing immediate action. Urgent issues are receiving attention.
```
```
Page 2
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`OBJECTIVES AND ACTIVITIES`**
## `Chapel`
```
A choralevensongservicewas held in the chapel at Browne'sHospitalwith input from the All Saints choirsinging from the balcony
accessedfromthe auditroom.Theservicewasconductedby FatherNeilShawwhohadorganisedthe event.Theservicewas well
attended and had raised £170.50 towards the stained glass window project.
```
## `Electrical main fuse`
```
In orderto heat the chapeland boardroomareain readinessforthe evensongservicethe electricalmainfuse blew.It was quickly
establishedthat having all the radiatorson had caused the fuse to blow as the load capacitywas exceeded. It was suggested that to
rectifythe problemthe 15C part of the buildingneeded to be isolatedto a sparefuse in the main fuse box.Thisis an ongoing issue
with National Grid and the current electricity supplier.
```
## `Chapel services`
```
NowthatthestainedglasswindowprojecthadbeencompletedFatherNeilShawresumedamonthlycommunionservicein the
chapel which was rosteredfor the first Wednesdayof each month. Whilst all residentswould be warmlywelcomedthe service was
also open to members of the public.
```
## `Woodworm treatment, Chapel`
```
It was noted by the architect,Peter Slinger,that woodwormwas presentin the chapel.The woodwormwas treatedby a specialist
companywhichresultedinthebuildingbeingunusableforafewdays.Thechapelwouldbeinspectedeveryyearfor any
recurrence.
```
## `East boundary wall`
```
ThedaughteroftheresidentofFlat11hadraisedconcernforthesafetyofhermotherwhosedoorintoherflatwasnextto the
eastwallofthesite.Herconcernwasraisedinconnectionoftheloosebricksandtheshrubberythathadgrownthroughgaps in
the mortar.As this was a huge healthand safetyissue the chairmanand trusteesraisedthe concernwith the ownerof the former
WellandTyreCompanywhichis presentlyan unfinishedbuildingsite.He wasaskedto inspectthe wallwiththe chairmanand the
owner agreed to lowering the height of the wall and to capping it at his expense and as a gesture of good will.
```
```
The resident's daughter was extremely grateful to the trustees that they had addressed her concerns.
```
## `Purchase of shrub in memory of the former occupant of Flat 10.`
```
The son of former occupantMrs Sheila Rowellwho had sadly passed away wrote to the chairmanto ask if a shrub could be planted
nearwhereshelivedinhermemory.Thetrusteesagreedbutwerekeentosuggestthattheshrubshouldbeinkeepingwith the
garden. The miniature weeping cherry was planted in the garden in May 2023.
```
## `Land at Easton on the Hill`
```
The processof registeringthe landat Eastonon the Hillhad yet to be completed.All paperworkis withthe LandRegistry. Trustee
Philip Robson, a former Solicitor, would chase it up.
```
## `Potential asset purchase - 3A Broad Street`
```
Duringthe courseof the yearit was noted that the propertyattachedto west wallof the hospitalwouldbe placedon the market.
At that time the chairmanand trusteeswere interestedin purchasingthe propertyto perhapsconvertit to a toiletblockand office
aboveandtoenableauserfriendlyentrancetothesite.Thepotentialpurchasedependedonthepriceoftheproperty. The
trusteeshad an independentvaluerinspectthe propertyand weregivena valuationof £350,000.Armed withthis information the
chairmantook this to the June meeting where much discussionensued. The chairmanexplained the situationand although the true
valuationseemedreasonabletheownerandthefamilyofthepropertywantedtotesttheofferagainsttheprevailingmarket. It
wasagreedthatthetrusteeswouldinitiallyoffer£350,000andifnotacceptedwouldincreasetheirofferby10percent. Their
increased offer was declined and Browne's hospital withdrew their interest when the property was placed on the open market.
```
```
Page 3
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`OBJECTIVES AND ACTIVITIES`**
## `CCTV`
```
In the schoolholidayssomeanti-socialbehaviourwasencounteredwhichwasnotonlydisrespectfulto the sitebut also upsetting
totheresidents.Youngchildrenwerethrowingleftovertakeawaysoverthefootpathsandthestepstotheauditroom leaving
greasyresidueattheentranceandunusedsaucespreadacrossthefootpaths.Vandalismwasexperiencedtotheroperail which
had been tornawayfromthe bottomfixing.When the youngpeoplewereconfrontedby the residents,the residents experienced
verbalabuse.Thisof coursecouldnot be toleratedby the trusteeswhowerenot onlyconcernedaboutthe residentsbut also the
vandalismof the site which if left unchallengedcould get worse.The problemwas reportedto the police.As the problem persisted
the trustees discussedinstallingCCTV but on researchingthis topic it was found that recordingswould involvethe hospital applying
foraDataProtectionLicence.Beforegoingtothisextent,thetrusteesagreedtoinstallacamerathatwouldalert the
custodian/caretaker'smobile phone to persons entering the site and he could then challengethem if required.Notices were put up
advising those entering the building that they could be seen on camera.
```
```
The camera was installed and to date no vandalism has been experienced.
```
## `Flat 2 level access shower`
```
TheresidentofFlat2 hadbeenassessedbyanoccupationaltherapistwhorecommendedthatshehadashowerinstalledas her
mobilitywas such that it was not safe for her to use a bath. Her circumstanceswere reportedto the districtcouncilwho administer
the disabledfacilitiesgrant scheme.A grant was awardedfor fittinga level accessshowerwhichwouldneed the permissionof the
landlord.PermissionwasgrantedbytheChairmanontheconditionthatitwasrealisedthatthepropertywasaGradell* listed
building and permissionmay need to be granted for certainaspectsof the scheme.The specificationswould be forwardedto Peter
Slinger, architect, for his opinion on the specifications for the development.
```
```
The matter was ongoing at the time of this report.
```
## `Kitchen and toilet refurbishment`
```
ThearchitectwasaskedtoinspecttheoldoutsidetoiletsatthetopoftheCloistertoascertainiftherewascapacity for
improvement.On inspectionhe had discoveredto the rear of the toilets a former wash room and to the east wall of the toilet block
a side door. Options were looked at to see if it was possible to create a disabled toilet in addition to a unisex toilet. However,as the
reopening of the door would compromise the privacy of the nearby flats, that idea was abandoned.
```
```
At the time of writing the report,the trustees had agreed that the toilet should be convertedinto one accessibleunisex cubicle and
further improvements should be completed as soon as practically possible.
```
## `Fire safety measure`
```
Duetothenewrulesandregulationsassociatedwithfiresafetyanimpromptufiredrillwastriggeredpriortoameeting with
residentstoexplainthefiredrillsituationandtocompletePEEPS(personalemergencyandevacuationplan)foreach resident.
Althoughsomeresidentswereslowtorespondtothefirealarmthemajoritydidandhadassembledattheassemblypointin a
timely way.
```
```
In order to review and re-assessthe fire risk and proceduresacross the site, Mrs MirandaRock had organisedfor the local retained
fireservicetoattendontheirtrainingevening.Theoutcomewasthatthetrusteesshouldformallyconsultwithafire safety
consultancy firm to review the site and the procedures. This has been arranged for 2024 and will also include the warden's house.
```
## `Flat 7 refurbishment`
```
AfterthesadlossoftheformerresidentofFlat7,itwasnotedthatthebathhadnotbeenremovedandashowerfitted.It was
originallyagreed by the trustees that once a flat was empty if it still had a bath in situ then for the safety of the new resident a new
shower would be fitted.
```
```
Trustees inspected the flat and determined that a refurbishmentof the bathroomwas needed, some minor work in the kitchen was
requiredandthatatotalredecorationoftheflatwasnecessary.Thisworkwascompletedandanewresidentappointedafter a
selection and interview process.
```
```
Ananonymousdonationwasreceivedinmemoryoftheresidentforthecostsoftherefurbishment(£16,500)andthis was
gratefully received by the Board of Trustees.
```
```
Page 4
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`OBJECTIVES AND ACTIVITIES`**
## `Summary`
```
This year had proved to be another challenging year for the trustees.
```
```
Greatchangeshavetakenplaceduringtheyear.Newupdatedpoliciesandprocedureshavebeenputinplaceand implemented.
The completionof the stainedglasswindowprojectwhichhad takena lotof timeand effortby the trusteeand Honorary Curator
ofthemuseum,DavidWallington,wasagreatachievementandwaswrittenupandreportedintheAlms-houseGazette. Thanks
hadgonetoallwhohadsupportedtheprojectwhichincludedindividualsfromtheBoardofTrustees,localbusinessesand from
friends, the general public and from charitable bodies. This project could not have come to fruition without their generosity.
```
```
The chairmanof the boardand trusteesworktirelesslyforthe benefitof the residentsand to ensurethe futureof the hospital for
many years to come.
```
## **`Public benefit reporting`**
```
Whenreviewingthecharitiesobjectivesandactivitiesandinplanningfutureactivitiesthetrusteeshaveconsideredthe charity
commission's general guidance on public benefit.
```
## **`Volunteers`**
```
Althoughvolunteersare not widelyused by the charity,withouttheir help over the yearsthe hospitalwouldnever have been able
to open to the public. The trustees also rely on the support and goodwill of a number of residents.
```
## `Trustees`
```
The trustees were pleased to welcomeThe Mayor of Stamford,CouncillorAndrew Croft to the Board of Trustees.He was formerly
a nominatedtrustee on the board representingthe Town Councilas per the schemes of the hospitalbut now serves in an Ex Officio
capacity while Mayor of Stamford.
```
## `Museum`
```
Aswellasbeingatrustee,MrDavidWallingtonalsovolunteersasHonoraryCuratoroftheMuseumalongwithateam of
volunteers.
```
```
MrDavidWallingtonhadopenedthemuseumtovisitorsatEasterandinadditionopenedonEasterMondayandon Volunteer's
DayduringtheCoronationweekend.ThemuseumopenedonaregularbasiseverySaturdayfromJunetotheendof September.
This had only been possible due to David Wallington recruiting the volunteers to staff it.
```
```
The trustees are gratefulfor the contributionsmade to the charityby all of their volunteersand thank all of the volunteersfor their
hard work during the year.
```
## `Residents`
```
The trustees were saddened to hear of the death of the resident of Flat 7. She had lived at the hospitalfor many years and was well
likedandveryquietbutalsowillingtohelpanyoftheresidentsifshecould.Shewillbesadlymissedbyallwhoknewher. She
needed a period of palliative care and bore her illness very bravely.
```
```
The trustees are also pleased to say that all of our residents have remained healthy throughoutthis period which is the goal for the
running of the almshouses.
```
```
Thechairmanisgratefulforthehardworkputinbytheboardoftrustees,CarolGarwell,clerktothetrustees,Andrew Haigh,
Custodian/Caretaker,andtoalltheresidentsandvolunteerswhostrivetolookafterthesitewhichisoneofStamford's most
sought after Alms-house and one of Stamford's finest historical buildings.
```
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Charitable activities`**
```
The charity continues to provide sheltered accommodation through its thirteen almshouses.
```
## **`Fundraising activities`**
```
Thecharityderivesmostofitsincomefrominvestmentsandmaintenancechargestoalmshouseresidents.Italsoderives income
from pre-booked guided tours.
```
```
Page 5
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Investment performance`**
```
The trusteeswere delightedthat the investmentreviewwhichhad previouslytakenplacewhereall investmentswere cashed with
M & G, Barclaysand Blackrockand reinvestedwith Rathbonescharityaccounthad been successful.The Rathbonescapital accounts
had remainedstaticin a challengingand volatilefinancialenvironmentwhereasthe quarterlydividendhad increased substantially
comparedtotheyearspriorto2022.Thesurpluscashinthebank'scurrentaccounthadbeenmovedandplacedin income
producing short and medium-term deposit accounts. This had greatly enhanced the stability of Browne's Hospital's finances.
```
## **`FINANCIAL REVIEW`**
## **`Principal funding sources`**
```
Thecharityreliesonthemaintenancechargesandincomefrombothpropertyandlistedinvestments.Thecharityhas benefited
fromsomesignificantdonationsandlegaciesinrecentyearswhichwillleavethecharityinastrongfinancialpositionfor the
foreseeable future.
```
## **`Investment policy and objectives`**
```
Thetrusteeshavethe powerto investin suchassetsas theythinkfit.Reportsarecirculatedthroughoutthe yearto keep trustees
informed of their progress.
```
```
Thecharityholdsits investmentswithRathbonesInvestmentBank.Thetrusteesunderstandthe bank'sapproachto ESG investing
and appreciate their responsible and pragmatic approach to ESG factors when investing charitable monies.
```
## **`Reserves policy`**
```
Thetrusteesareawarethattheyneedtomaintainunrestrictedfreereservesataleveltoprovidesufficientfundsto cover
operatingexpenditure.Thetrusteesconsiderthatthecharityshouldmaintainbetweenthreeandsixmonthsofunrestricted free
reserves. The current unrestricted free reserves are more than sufficient to comply with this policy.
```
## **`FUTURE PLANS`**
```
Next yearis expectedto be equallyas busy as this year.The fireauditis likelyto highlightthe need forsomestructural alterations
and it is likely the fire alarm will need to be extended to the Warden's House.
```
```
Recommendations highlighted from the quinquennial inspection will need to be implemented.
```
```
Final plans need to be agreed for the upgrade of the outside toilets and then sent out to tender.
```
```
Policies and procedures will need to be reviewed in a measured way at the four quarterly meetings.
```
```
The Cloister wall subsidence problem now needs to move on from the monitoring stage to the repair stage.
```
```
A celebrationof completionand blessingof the stainedglass windowhas been proposedand invitationswill need to be sent to all
the benefactors.
```
```
Residents will need to be cared for and any issues they face will need responding to.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
The charityis governedin accordancewith a scheme of the charitycommissionersfor Englandand Wales dated 11 March 1964, as
varied by a scheme dated 15 November 1982, and as further varied by a scheme dated 29 February 1996.
```
```
Page 6
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`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.
```
## `Appointment of new trustee`
```
Special Meeting 6 June 2023
```
```
TheChairmanhadcalledforaSpecialMeetingtoappointCouncillorJohnDawsontotheBoardofTrustees.Hehad previously
been nominatedby the TownCouncilto attendwhilstin officeat StamfordTownCouncil.On leavingthe positionwiththe Town
Councilthe Chairmanapproachedhim and asked if he would return as a Co-optativeTrustee.He agreed and was duly appointed to
the Board until June 2027.
```
## **`Organisational structure`**
```
Thetrusteesmeetregularlytomakedecisionsrelatingtothecharity.Alltrusteesgivetheirtimefreelyandnoremuneration 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`**
```
The trusteeshavea dutyto identifyand reviewthe risksto whichthe charityis exposedand to ensureappropriatecontrolsare in
placeto providereasonableassuranceagainstfraud and error.The trusteescontinueto monitorand reviewthe risks and instigate
controls as appropriate.
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number`**
```
221428
```
## **`Principal address`**
```
Mrs Carol Garwell
19 Downing Crescent
Stamford
Lincolnshire
PE9 1JD
```
## **`Trustees`**
```
Mrs M Rock
Cllr J Dawson
Dr J Mitchell
D Wallington
M P K Walmsley
A Croft
P Robson
Father N Shaw Vicar
J Sutcliffe
```
## **`Independent Examiner`**
```
Mark Hindmarch BSc ACA
Duncan & Toplis Limited
14 All Saints Street
Stamford
Lincolnshire
PE9 2PA
```
```
Page 7
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023`**
```
Approved by order of the board of trustees on 2 July 2024 and signed on its behalf by:
```
```
Dr J Mitchell - Trustee
```
```
Page 8
```
## **`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 report to the charitytrustees on my examinationof the accountsof The Hospitalof William Browne (the Trust) for the year ended
31 December 2023.
```
## **`Responsibilities and basis of report`**
```
As the charitytrusteesof the Trust you are responsiblefor the preparationof the accountsin accordancewith the requirements of
the Charities Act 2011 ('the Act').
```
```
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActandincarryingout my
examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
```
## **`Independent examiner's statement`**
```
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnectionwith 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.`
```
I have no concernsand have come across no other matters in connectionwith the examinationto which attentionshould 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
```
```
2 July 2024
```
```
Page 9
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023`**
|`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
**`Charitable activities`**
`4`
`Almshouses`
`Museum`
`Investment income`
`3`
**`Total`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`5`
`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`
`£`
`55,930`
`56,071`
`2,509`
`75,140`
`189,650`
`69,873`
`1,794`
`99,561`
`171,228`
`154,524`
`172,946`
`3,167,857`
`3,340,803`|`Restricted`
`fund`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`|`2023`
`Total`
`funds`
`£`
`55,930`
`56,071`
`2,509`
`75,140`
`189,650`
`69,873`
`1,794`
`99,561`
`171,228`
`154,524`
`172,946`
`3,167,857`
`3,340,803`|`2022`
`Total`
`funds`
`£`
`6,263`
`52,198`
`1,035`
`48,092`
`107,588`
`63,234`
`55`
`30,566`
`93,855`
`(103,168)`
`(89,435)`
`3,257,292`
`3,167,857`|
|---|---|---|---|---|
```
The notes form part of these financial statements
```
```
Page 10
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2023`**
|`Notes`
**`FIXED ASSETS`**
`Heritage assets`
`9`
**`Investments`**
`Investments`
`10`
`Investment property`
`11`
**`CURRENT ASSETS`**
`Debtors`
`12`
`Cash at bank`
**`CREDITORS`**
`Amounts falling due within one year`
`13`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`16`
`Unrestricted funds`
**`TOTAL FUNDS`**|`2023`
`£`
`495,839`
`2,229,663`
`450,000`
`3,175,502`
`9,718`
`165,899`
`175,617`
`(10,316)`
`165,301`
`3,340,803`
`3,340,803`
`3,340,803`
`3,340,803`|`2022`
`£`
`495,839`
`2,075,139`
`450,000`
`3,020,978`
`8,907`
`150,278`
`159,185`
`(12,306)`
`146,879`
`3,167,857`
`3,167,857`
`3,167,857`
`3,167,857`|
|---|---|---|
```
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon2July2024andweresignedon its
behalf by:
```
```
J Mitchell - Trustee
```
```
The notes form part of these financial statements
```
```
Page 11
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`1. ACCOUNTING POLICIES`**
## **`Basis of accounting`**
```
Thefinancialstatementsofthecharity,whichis a publicbenefitentityunderFRS102,havebeenpreparedin accordance
with the CharitiesSORP(FRS 102) 'Accountingand Reportingby Charities:Statementof RecommendedPractice applicable
to charitiespreparingtheir accountsin accordancewith the FinancialReportingStandardapplicablein the UK and Republic
ofIreland(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancialstatementshavebeen prepared
under the historicalcost convention,with the exceptionof investmentswhich are includedat market value,as modified by
the revaluation of certain assets.
```
```
The presentation currency of the financial statements is the pound sterling (£).
```
## **`Income`**
```
All income is recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it is probable
that the income will be received and the amount can be measured reliably.
```
## **`Expenditure`**
```
Liabilitiesare recognisedas expenditureas soon as there is a legal or constructiveobligationcommittingthe charityto that
expenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementandtheamountof the
obligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassified under
headingsthataggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticular headings
they have been allocated to activities on a basis consistent with the use of resources.
```
## **`Allocation and apportionment of costs`**
```
Supportservicecostsareallocatedtothecostsofgeneratingfunds,charitableactivitiesandgovernanceonthebasis of
time spent by the support service.
```
## **`Heritage assets`**
```
Thefreeholdproperty,notheldforinvestmentpurposes,comprisestheChapel,Cloisters,MedievalBoardroom and
Almshouses.Thesebuildingscontainmanyoriginalfeaturesandanumberofhistoricalartefacts.Thetrusteeshave given
carefulconsiderationtotherequirementunderaccountingstandardstoincludethefreeholdproperty,notheld for
investment purposes, and its historical artefacts in the financial statements at valuation.
```
```
A professionalvaluationofthe freeholdpropertywasundertakenon 9 April2009by RichardOakleyARICS.This valuation
wasreviewedby PaulJohnsonFNAEAwhoconcludedthatas at February2010the valuehadnotsignificantlychanged. In
the opinionof the trusteesthe marketvalueof the freeholdpropertyat 31 December2023 wasnot significantly different
fromthisvaluation.Thevaluationof£400,000thereforeremainstheoneusedfortheseaccounts,inadditionto capital
expenditure incurred for the conversion of the Toch 'H' room into a flat.
```
```
However,the natureof the propertymeansconventionalvaluationapproacheslackreliabilityand this valuationis 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 charityand the trusteeswouldneversellthe property. Accordingly
any valuation based on annual rental / maintenance income is not wholly relevant.
```
```
- ThegradeII*listedstatusofthepropertymeansanybuyerwouldbe undertakinga majorcommitmenttomaintain the
property in good repair and any purchase price would reflect that commitment and therefore be relatively low as a result.
```
```
Theoriginalhistoricalartefactshavenotbeenincludedatvaluationasitwouldbeundulycostlytoundertakesuch an
exercise.Includedinthesehistoricalartefactsareitemsofantiquefurniturewhichthetrusteesareprohibited from
disposingof.Thusasabovethenatureofthehistoricalartefactsmeansconventionalvaluationapproacheslack reliability
and any valuationwould be subject to a high degree of uncertainty.Any historicalartefactssubsequentlypurchasedby the
charity are included at cost, or valuation in the case of donated items.
```
## **`Preservation costs - facilities modernisation, repairs, conversion and restoration`**
```
The hospitalhas a rollingprogrammeof maintenanceand modernisationof accommodationfacilitiesfor its occupants and
accordingly the property is maintained in good order.
```
```
continued...
```
```
Page 12
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`1. ACCOUNTING POLICIES - continued`**
## **`Heritage assets`**
```
Expenditurewhich,inthetrusteesview,isrequiredtopreserveorpreventfurtherdeteriorationofindividual items,
includingpreservationworkon the Hospital,is recognisedas an expensein the Statementof FinancialActivitieswhen it is
incurred, in accordance with the accounting policy set out on page 11 of these financial statements.
```
```
For the abovereasons,the propertyis consideredto have an indeterminatelife and depreciationis not therefore provided
on the property.
```
## **`Investment property`**
```
Investmentpropertyisshownatitsmostrecentvaluation.Anyaggregatesurplusordeficitarisingfromchangesin 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,includingtradeand otherdebtorsand cashand bankbalancesare initiallyrecognisedat transaction
price,unlessthe arrangementconstitutesa financingtransaction,wherethe transactionis measuredat the present value
of the future receipts discounted at a market rate of interest.
```
```
Attheendofeachreportingperiodfinancialassetsmeasuredatamortisedcostareassessedforobjectiveevidence of
impairment.Ifanassetisimpairedtheimpairmentlossisthedifferencebetweenthecarryingamountandthe present
valueoftheestimatedcashflowsdiscountedattheasset'soriginaleffectiveinterestrate.Theimpairmentloss is
recognised in profit or loss.
```
```
Otherfinancialassets,includinginvestmentsin equityinstrumentswhichare not subsidiaries,associatesor joint ventures,
are initially measured at fair value, which is normally the transaction price.
```
```
Suchassetsaresubsequentlycarriedatfairvalueandthechangesinfairvaluearerecognisedintheincome statement,
exceptthatinvestmentsinequityinstrumentsthatarenotpublicallytradedandwhosefairvaluescannotbe measured
reliably are measured at cost less impairment.
```
```
Financialassetsarederecognisedwhen(a)the contractualrightsto the cashflowsfromthe assetexpireor are settled, or
(b) substantiallyall the risks and rewards of the ownershipof the asset are transferredto another party or (c) controlof the
assethas been transferredto anotherpartywhohas the practicalabilityto unilaterallysell the assetto an unrelated third
party without imposing additional restrictions.
```
```
Basicfinancialliabilities,includingtradeandothercreditorsareinitiallyrecognisedattransactionprice,unless the
arrangementconstitutesa financingtransaction,where the debt instrumentis measuredat the 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.
```
```
Trade creditorsare obligationsto pay for goods or services that have been acquired in the ordinarycourse of business from
suppliers.Accountspayableareclassifiedascurrentliabilitiesifpaymentisduewithinoneyearorless.Ifnot,they are
presented as non-currentliabilities.Trade creditorsare recognisedinitiallyat transactionprice 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.
```
```
Designated funds are funds set aside by the trustees out of unrestricted funds for specific future purposes or projects.
```
```
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.Restrictions arise
when specified by the donor or when funds are raised for particular restricted purposes.
```
```
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
```
```
continued...
```
```
Page 13
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`1. ACCOUNTING POLICIES - continued`**
## **`Hire purchase and leasing commitments`**
```
RentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivitiesonastraightlinebasisover the
period of the lease.
```
## **`Pension costs and other post-retirement benefits`**
```
Thecharityoperatesadefinedcontributionpensionscheme.Contributionspayabletothecharity'spensionscheme are
charged to the Statement of Financial Activities in the period to which they relate.
```
## **`Debtors`**
```
Debtors are measured at their recoverable amount.
```
## **`Creditors`**
```
Creditorsaremeasuredattheirsettlementamountorinthecaseofprovisionforliabilitiesthebestestimateof their
settlement amount.
```
## **`Listed investments`**
```
Fixed asset investments represent long term investments and are stated at fair value.
```
## **`Critical accounting judgements and estimation uncertainty`**
```
Intheapplicationofthecharity'saccountingpolicies,managementisrequiredtomakejudgements,estimates and
assumptionsaboutthecarryingvalueofassetsandliabilitiesthatarenotreadilyapparentfromothersources. The
estimatesandunderlyingassumptionsarebasedonhistoricalexperienceandotherfactorsthatareconsideredto be
relevant. Actual results may differ from these estimates.
```
```
Theestimatesandunderlyingassumptionsarereviewedonanongoingbasis.Revisionstoaccountingestimates are
recognisedintheperiodinwhichtheestimateisrevisediftherevisionaffectsonlythatperiod,orintheperiodof the
revision and future periods if the revision affects both current and future periods.
```
```
Thekeysourcesofestimationuncertaintythathaveasignificanteffectontheamountsrecognisedinthe financial
statements are described below.
```
## **`Government grants`**
```
Governmentgrantsarerecognisedwhenthereis reasonableassurancethatthegrantwillbe receivedandany conditions
attachedwillbecompliedwith.Grantsarerecognisedasincomeovertheperiodnecessarytomatchthemwith related
costs or lost income, for which they are intended to compensate, on a systematic basis.
```
## **`2. DONATIONS AND LEGACIES`**
## **`3.`**
|`Donations`
`Grants`
**`INVESTMENT INCOME`**
`Rents received from wardens house`
`Rent and room hire`
`Dividends on listed investment`
`Deposit account interest`|`2023`
`£`
`29,930`
`26,000`
`55,930`
`2023`
`£`
`24,323`
`1,801`
`48,975`
`41`
`75,140`|`2022`
`£`
`3,013`
`3,250`|
|---|---|---|
|||`6,263`|
|||`2022`
`£`
`19,307`
`2,195`
`26,586`
`4`|
|||`48,092`|
```
continued...
```
```
Page 14
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`4. INCOME FROM CHARITABLE ACTIVITIES`**
|`Almshouses`
`£`
`Maintenance charges to almshouse residents`
`56,071`
`Museum income`
`-`
`56,071`
**`CHARITABLE ACTIVITIES COSTS`**
`Almshouses`
`Museum`
**`SUPPORT COSTS`**
`Other resources expended`
`Almshouses`
`Museum`|`2023`
`Total`
`Museum`
`activities`
`£`
`£`
`-`
`56,071`
`2,509`
`2,509`
`2,509`
`58,580`
`Support`
`Direct`
`costs (see`
`Costs`
`note 6)`
`£`
`£`
`5,198`
`64,675`
`-`
`1,794`
`5,198`
`66,469`
`Governance`
`Other`
`costs`
`£`
`£`
`85,903`
`12,775`
`64,675`
`-`
`1,794`
`-`
`152,372`
`12,775`|`2022`
`Total`
`activities`
`£`
`52,198`
`1,035`
`53,233`
`Totals`
`£`
`69,873`
`1,794`
`71,667`
`Totals`
`£`
`98,678`
`64,675`
`1,794`|`2022`
`Total`
`activities`
`£`
`52,198`
`1,035`
`53,233`
`Totals`
`£`
`69,873`
`1,794`
`71,667`
`Totals`
`£`
`98,678`
`64,675`
`1,794`|
|---|---|---|---|
||||`53,233`|
||||`Totals`
`£`
`69,873`
`1,794`|
||||`71,667`|
||||`Totals`
`£`
`98,678`
`64,675`
`1,794`|
|||`165,147`||
## **`5. CHARITABLE ACTIVITIES COSTS`**
## **`6. SUPPORT COSTS`**
## **`7. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2023norfortheyear ended
31 December 2022.
```
## **`Trustees' expenses`**
```
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
```
## **`8. STAFF COSTS`**
```
The average monthly number of employees during the year was as follows:
```
|`Administration`
`Caretaker`|`2023`
`1`
`1`
`2`|`2022`
`1`
`1`|
|---|---|---|
|||`2`|
```
No employees received emoluments in excess of £60,000.
```
```
continued...
```
```
Page 15
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`9. HERITAGE ASSETS`**
|**`HERITAGE ASSETS`**||
|---|---|
|**`MARKET VALUE`**
`At 1 January 2023 and 31 December 2023`
**`NET BOOK VALUE`**
`At 31 December 2023`
`At 31 December 2022`|`Total`
`£`
`495,839`|
||`495,839`|
||`495,839`|
```
Heritageassetsaredefinedastangiblepropertywithhistoricalandartisticimportancethatareheldto advance
preservation,conservationandtheeducationalobjectivesofthecharity.Thetrusteesconsideritsfreeholdproperty, not
held for investmentpurposes being the Chapel, Cloisters,Medieval Boardroomand Almshouses,and its historical artefacts,
held for preservation to fall within this definition.
```
```
A professionalvaluationof the freeholdpropertywasundertakenon 9 April2009 by RichardOakleyARICS.In the opinion
of the trusteesthe marketvalueat 31 December2023 wasnot significantlydifferentfromthis valuation.The valuation of
£400,000thereforeremains the one used for these accounts,in additionto capitalexpenditureincurredfor the conversion
of the Toc 'H' room into a flat.
```
```
Thecharityalsoownsanumberofhistoricalartefacts,giftedtothecharitybyWilliamBrownein1475.Includedin these
historicalartefactsare itemsof antiquefurniture.The trusteesare requiredby trustlawto retaintheseassets indefinitely
and they are effectively prohibited from disposing of them.
```
```
Giventhe natureof thefurnitureand the restrictionsand intentionsregardingits salethe trusteesfeelit is impractical to
placea marketvalueon it by applyingconventionalvaluationtechniques.The insurancevalueof the furnitureis £182,412
(2022 - £182,412).
```
## **`10. FIXED ASSET INVESTMENTS`**
|**`MARKET VALUE`**
`At 1 January 2023`
`Revaluations`
`At 31 December 2023`
**`NET BOOK VALUE`**
`At 31 December 2023`
`At 31 December 2022`
`There were no investment assets outside the UK.`
`Cost or valuation at 31 December 2023 is represented by:`
`Valuation in 2023`|`Listed`
`investments`
`£`
`2,075,139`
`154,524`
`2,229,663`
`2,229,663`
`2,075,139`
`Listed`
`investments`
`£`
`2,229,663`|
|---|---|
```
continued...
```
```
Page 16
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`11. INVESTMENT PROPERTY`**
|**`INVESTMENT PROPERTY`**||
|---|---|
|**`FAIR VALUE`**
`At 1 January 2023`
`and 31 December 2023`
**`NET BOOK VALUE`**
`At 31 December 2023`
`At 31 December 2022`|`£`
`450,000`|
||`450,000`|
||`450,000`|
```
Included in investment property is freehold land valued at £150,000 (2022 - £150,000).
```
```
The investmentpropertycomprisesthe Warden'sHouseand 19.96 acresof land at Eastonon the Hill and was revalued by
RichardsonCharteredSurveyorsin2018.Thetrusteesusedmarketbasedevidenceandrentalyieldsinthelocalarea to
establishthefairvalueoftheinvestmentproperty.Intheopinionofthetrusteesthemarketvalueofthe investment
property at 31 December 2023 is not significantly different from this valuation.
```
## **`12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
## **`13.`**
|`Other debtors and prepayments`
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade creditors`
`Taxation and social security`
`Other creditors`||
|---|---|
## **`14. LEASING AGREEMENTS`**
```
Lease payments receivable by the charity under operating leases on its investment property are due as follows:
```
|||||`2023`||`2022`|
|---|---|---|---|---|---|---|
|||||`£`||`£`|
|`Within one year`||||`18,000`||`18,000`|
|`Between one and five years`||||`72,000`||`72,000`|
|`In more than five years`||||`45,540`||`63,540`|
||||||||
|||||`135,540`||`153,540`|
||||||||
|**`ANALYSIS OF NET ASSETS BETWEEN FUNDS`**
`Fixed assets`
`Investments`
`Current assets`
`Current liabilities`|`Unrestricted`
`funds`
`£`
`495,839`
`2,679,663`
`175,617`
`(10,316)`
`3,340,803`|`Restricted`
`fund`
`£`
`-`
`-`
`-`
`-`
`-`||`2023`
`Total`
`funds`
`£`
`495,839`
`2,679,663`
`175,617`
`(10,316)`
`3,340,803`||`2022`
`Total`
`funds`
`£`
`495,839`
`2,525,139`
`159,185`
`(12,306)`
`3,167,857`|
||||||||
## **`15. ANALYSIS OF NET ASSETS BETWEEN FUNDS`**
```
continued...
```
```
Page 17
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`16. MOVEMENT IN FUNDS`**
|**`Unrestricted funds`**
`Main fund`
`Cyclical repair fund`
`Extraordinary repair fund`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are as follows:`
`Incoming`
`resources`
`£`
**`Unrestricted funds`**
`Main fund`
`189,650`
`Cyclical repair fund`
`-`
`Extraordinary repair fund`
`-`
`189,650`
**`TOTAL FUNDS`**
`189,650`|`At 1.1.23`
`£`
`2,707,582`
`232,107`
`228,168`
`3,167,857`
`3,167,857`
`Resources`
`expended`
`£`
`(171,228)`
`-`
`-`
`(171,228)`
`(171,228)`|`Net`
`movement`
`in funds`
`£`
`159,334`
`5,987`
`7,625`
`172,946`
`172,946`
`Gains and`
`losses`
`£`
`140,912`
`5,987`
`7,625`
`154,524`
`154,524`|`At`
`31.12.23`
`£`
`2,866,916`
`238,094`
`235,793`|`At`
`31.12.23`
`£`
`2,866,916`
`238,094`
`235,793`|
|---|---|---|---|---|
||||`3,340,803`||
||||`3,340,803`||
||||`Movement`
`in funds`
`£`
`159,334`
`5,987`
`7,625`
`172,946`
`172,946`||
|||||`172,946`|
|||||`172,946`|
## **`Comparatives for movement in funds`**
|**`Unrestricted funds`**
`Main fund`
`Cyclical repair fund`
`Extraordinary repair fund`
**`Restricted funds`**
`Chapel fund`
**`TOTAL FUNDS`**|`At 1.1.22`
`£`
`2,963,729`
`4,119`
`277,587`
`3,245,435`
`11,857`
`3,257,292`|`Net`
`movement`
`in funds`
`£`
`(21,257)`
`(15,463)`
`(52,715)`
`(89,435)`
`-`
`(89,435)`|`Transfers`
`between`
`funds`
`£`
`(234,890)`
`243,451`
`3,296`
`11,857`
`(11,857)`
`-`|`At`
`31.12.22`
`£`
`2,707,582`
`232,107`
`228,168`|
|---|---|---|---|---|
|||||`3,167,857`
`-`|
|||||`3,167,857`|
```
continued...
```
```
Page 18
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`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`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`107,588`
`-`
`-`
`107,588`
`107,588`|`Resources`
`expended`
`£`
`(93,855)`
`-`
`-`
`(93,855)`
`(93,855)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`(34,990)`
`(21,257)`
`(15,463)`
`(15,463)`
`(52,715)`
`(52,715)`
`(103,168)`
`(89,435)`
`(103,168)`
`(89,435)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`(34,990)`
`(21,257)`
`(15,463)`
`(15,463)`
`(52,715)`
`(52,715)`
`(103,168)`
`(89,435)`
`(103,168)`
`(89,435)`|
|---|---|---|---|---|
|||||`(89,435)`|
|||||`(89,435)`|
```
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 1.1.22`
`£`
`2,963,729`
`4,119`
`277,587`
`3,245,435`
`11,857`
`3,257,292`|`Net`
`movement`
`in funds`
`£`
`138,077`
`(9,476)`
`(45,090)`
`83,511`
`-`
`83,511`|`Transfers`
`between`
`funds`
`£`
`(234,890)`
`243,451`
`3,296`
`11,857`
`(11,857)`
`-`|`At`
`31.12.23`
`£`
`2,866,916`
`238,094`
`235,793`|
|---|---|---|---|---|
|||||`3,340,803`
`-`|
|||||`3,340,803`|
```
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`Main fund`
`Cyclical repair fund`
`Extraordinary repair fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`297,238`
`-`
`-`
`297,238`
`297,238`|`Resources`
`expended`
`£`
`(265,083)`
`-`
`-`
`(265,083)`
`(265,083)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`105,922`
`138,077`
`(9,476)`
`(9,476)`
`(45,090)`
`(45,090)`
`51,356`
`83,511`
`51,356`
`83,511`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`105,922`
`138,077`
`(9,476)`
`(9,476)`
`(45,090)`
`(45,090)`
`51,356`
`83,511`
`51,356`
`83,511`|
|---|---|---|---|---|
|||||`83,511`|
|||||`83,511`|
```
All reserves in the main fund are classified as unrestricted.
```
```
All reservesin the cyclicalrepairfund are classifiedas unrestrictedbut designatedby the trusteesto providefor long-term
maintenance of the charity's properties.
```
```
All reservesin the extraordinaryrepairfund are classifiedas unrestrictedbut are designatedby the trusteesto provide for
extraordinary repairs.
```
```
All reserves in the chapel fund are classified as restricted and for the ongoing maintenance of the chapel and its fittings.
```
```
continued...
```
```
Page 19
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`17. RELATED PARTY DISCLOSURES`**
```
Donationstotalling£4,000(2022-£nil)werereceivedduringtheyearfromtrustees.Therewerenootherrelated party
transactions.
```
## **`18. ULTIMATE CONTROLLING PARTY`**
```
The charity is controlled by the board of trustees.
```
## **`19. FINANCIAL INSTRUMENTS`**
```
The charity has the following financial instruments:
```
||`2023`|`2022`|
|---|---|---|
||`£`|`£`|
|**`Financial assets at fair value through the statement of financial activities`**|||
|`Listed investments`|`2,229,663`|`2,075,139`|
|**`Financial liabilities measured at amortised cost`**|||
|`Trade creditors`|`4,366`|`8,890`|
```
The income, expenses, net gains and net losses attributable the charity's financial instruments are summarised as follows:
```
|`Income and expense`|`2023`|`2022`|
|---|---|---|
||`£`|`£`|
|`Financial assets measured at fair value through the statement of financial activities`|`48,975`|`26,586`|
|`Net gains and losses`|||
|`Financial assets measured at fair value through the statement of financial activities`|`154,524`|`(103,168)`|
```
Thetotalinterestincomeandinterestexpenseforfinancialassetsandfinancialliabilitiesthatarenotmeasuredat fair
value through the statement of financial activities was £41 (2022 - £4) and £nil (2022 - £nil) respectively.
```
## **`Listed investments`**
```
Thecharityhasanumberoflistedinvestments.Thevaluationsarebasedonrecenttransactionsandaredetermined by
the investment manager being Rathbones.
```
## **`20. INDEPENDENT EXAMINER'S FEE`**
```
The independentexaminationfee chargedforthe yearwas£1,500(2022- £1,500).Otherservicesprovidedto the charity
by the independent examiner related to accounts preparation services for which £3,300 (2022 - £2,952) was charged.
```
```
Page 20
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023`**
|**`INCOME AND ENDOWMENTS`**
**`Donations and legacies`**
`Donations`
`Grants`
**`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`
`Museum income`
**`Total incoming resources`**
**`EXPENDITURE`**
**`Charitable activities`**
`Care line`
`Cleaning and gardening`
`Architect and surveyor fees`
**`Other`**
`Subscriptions`
`Gifts and donations`
**`Support costs`**
**`Other`**
`Caretaker wages`
`Caretaker pension`
`Repairs and renewals`
`Rates and water`
`Insurance`
`Light and heat`
`Telephone`
`Sundries`
`Office costs`|`2023`
`£`
`29,930`
`26,000`
`55,930`
`24,323`
`1,801`
`48,975`
`41`
`75,140`
`56,071`
`2,509`
`58,580`
`189,650`
`3,872`
`926`
`400`
`5,198`
`333`
`550`
`883`
`8,735`
`-`
`109,603`
`668`
`13,981`
`15,146`
`569`
`1,824`
`1,846`
`152,372`|`2022`
`£`
`3,013`
`3,250`|
|---|---|---|
|||`6,263`
`19,307`
`2,195`
`26,586`
`4`|
|||`48,092`
`52,198`
`1,035`|
|||`53,233`|
|||`107,588`
`2,383`
`3,197`
`1,667`|
|||`7,247`
`190`
`400`|
|||`590`
`5,269`
`152`
`51,303`
`1,863`
`12,754`
`2,519`
`715`
`78`
`1,059`|
|||`75,712`|
```
This page does not form part of the statutory financial statements
```
```
Page 21
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023`**
|**`DETAILED STATEMENT OF FINANCIAL ACTIVITIES`**
**`FOR THE YEAR ENDED 31 DECEMBER 2023`**|||
|---|---|---|
|**`Other`**
**`Governance costs`**
`Professional fees`
`Accountancy`
`Admin wages`
`Total resources expended`
**`Net income`**|`2023`
`£`
`175`
`6,600`
`6,000`
`12,775`
`171,228`
`18,422`|`2022`
`£`
`854`
`4,452`
`5,000`|
|||`10,306`|
|||`93,855`|
|||`13,733`|
```
This page does not form part of the statutory financial statements
```
```
Page 22
```