```
REGISTERED CHARITY NUMBER: 221428
```
## **`REPORT OF THE TRUSTEES AND`**
```
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
```
```
FOR
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024`**
|||**`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`|`20`|
|**`Detailed Statement of Financial Activities`**|`21`|`to`|`22`|
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024`**
```
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31December2024.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`
```
Thetrusteesreviewedtheweeklymaintenancechargeandthecontributionstogas,water,andgeneralmaintenanceat the
meetinginJune.Itwasnotedbythetrusteesthatthecostofgeneralmaintenanceforthealmshouseswasincreasing.A new
contract had been entered into for gas as it had increased significantly.
```
```
Withtheincreasedcostsitwasagreedtoincreasetheweeklychargesby£2forgas,£1forwateranda£3forthe weekly
maintenance charge. The charges from 2 September 2024 were to include an increase of £6 per week.
```
## `Health and safety of the site`
```
Withhealthandsafetyverymuchinmindandwiththeinformationfromtrustee,MirandaRock,Browne'sHospitalwereable to
appointtheservicesofDrPeterWilkinsonfromPyrologytoassessthefireriskatthehospitalandthewarden'shouse currently
leasedbyLandmarkIFA.Thisinvolvedvisualanddesktopanalysisoftheplans,policies,andassessmentstosatisfy the
requirements.
```
```
DrWilkinsonproducedacomprehensivereportthatgaveaverydetailedlistofthepointsthatshouldbeaddressedinterms of
orderandimportance.Issuesidentifiedhavebeenaddressed.DrWilkinsonhadbeenimpressedwiththeeffortsofthe trustees
priorto his visit.The trusteeswere gratefulto Mrs MirandaRockwho has agreedto take the lead on fire issuesand has agreed to
conduct an annual fire audit.
```
## `Residents gathering`
```
A gatheringof residentswasorganisedso the chairmancouldinformthem of the importanceof the firedrillat Browne's Hospital
andtocommunicatetothemtheadditionalinformationintherevisedresident'shandbook.Thisincludedtheevacuation policy
when a fire alarm was raised.Residentswere made aware that the fire alarm would be tested every Wednesdaybetween 1pm and
1.30pm.If the alarmsounded at any other time residentswere asked to evacuatetheir flats and go to the assemblypoint and wait
forinstructionfromthefiremarshall,theresidentandcaretaker,AndrewHaigh.Residentswerealsoinformedofthe electrical
safetyrisksand providedwithan electricalsafetyinformationsheetforthem to readand detailsof the procedureto follow when
calling out the fire service. This would also be included in the residents handbook.
```
## `Electrical inspection`
```
Thefive-yearelectricalinspectionhadbeencompletedtogetherwithPATtestsoverthewholesite.Thetrusteesagreedthat PAT
tests should be repeated throughoutthe site every two years. It was also agreed that any outside electricalequipment used as part
of the room hire should have a valid PAT test sticker on the respective plugs. The next electrical test would be in 2028.
```
```
Page 1
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`OBJECTIVES AND ACTIVITIES`**
## `Governance and internal financial controls`
```
Governanceand financialcontrolswere also reviewed in this year and updated accordingly.It was agreed by the trustees that these
policies should also be reviewed on an annual basis.
```
## `Registration of land, Easton on the Hill`
```
DespitethehelpfromtrusteeandsolicitorMrPhilipRobsonandthelocallegalfirmChatterton's,ithadstillnotbeenpossible to
registerthe landat Eastonon the Hilldue to the lackof evidenceof ownershipand the slownessof processingapplicationsat the
LandRegistry.AlthoughthelandhadbeenintheownershipofBrowne'sHospitalformanyyearsnofirmproofofthiscould be
established despite the curator of the museum trying to find the deeds.
```
```
It is hoped that further progress will be made by Charles Richardsonof Richardson'sEstate Agents who had been engaged for many
yearsmanagingthelettingofthelandfortheHospital.Hehadofferedtocompleteastatutorydeclarationthatwoulddetail the
amountoftimeheadministeredthelandthroughhisworkunderinstructionfroms.thetrustees.Hopefullythiswillenable the
land to be registered by the Hospital of William Browne.
```
## `Cloister wall and roof`
```
IthadbeenexpectedthatbyNovember2024therepairstothecloisterwallandroofwouldhavebeencompleted.Plans were
submittedtoSouthKestevenDistrictforlistedbuildingconsent,requiredforaGradell*listedbuilding.Theplanning application
wasgrantedandascheduleofworkshadbeensentouttocontractors.Thesuccessfulcontractorhadonlycompleteda risk
assessmentandasidefromthecrackmonitoringstillbeingcompletedperiodicallynofurtherworkhadbeendone.Itwas hoped
that work would have been completedin 2024 as it is 550th celebrationof the foundationof Browne'sHospitalin 2025 when many
more visitors are expected. Sadly, the barriers and acrow props are still in place.
```
## `Warden's house roof`
```
It wasreportedin Aprilthatthe warden'shouseroofwasleakingon the pinnaclesuchthatit hadrenderedthe office underneath
unusable.Repairshadbeencarriedoutsomeyearsearlierbutweredeemedtobe shoddypossiblydue tofinancialconstraints at
that time. The trusteesdecided that they must engage their architectto ensure correctassessmentand repair.The architect, Peter
Slinger,askedthreespecialistleadandcollywestonslaterooferstotenderfortheworkrequired.Theappointed contractor
repaired the roof under supervision from the architect.
```
```
LandmarkIFA Ltd,the lessor,had askedfor a smallreductionof their rent of £150 per monthas the officewas not fit for purpose.
This was agreed by the trustees.
```
## `Gutter clearance`
```
The trustees had successfullyengaged a company to clear the gutters at the warden'shouse as they were full of pigeon detritus and
moss.Thetrusteesdecidedthatthisshouldbedoneacrossthewholesiteandonanannualbasisinordertostopthe rain
overflowing from the gutters on to the stone walls beneath.
```
## `Water leak, warden's house cellar`
```
Landmarkagainhadtoreportafurtherproblemwithrainseepingintothewestwallofthecellar.Itwasnotedthatthe problem
couldbe blockeddrainsunderthebalconyonthesite.Thecontractorwhowasengagedtodotheworkfoundthiswasthe case.
Whilstonsitethearchitectadvisedthatthedownpipesoftheboardroomandchapelcouldalsobeblockedand advised
refashioningthedownpipesatthebottomalongwithremovingandreplacingtheconcreteblockswithmetalgrids.Thiswork has
been completed.
```
## `Leaking central heating pipes`
```
InOctoberLandmarkhadagaincontactedthetrusteestoreportanotherleak,thistimetothecentralheatingpipesin oneof the
offices.Thecaretakerandaplumberinvestigatedtheproblem.Thecentralheatingpipewasburiedinconcreteandwas badly
eroded.The pipe wasredirectedabovegroundratherthanunderconcrete.Unfortunately,the staffat Landmarkhad to move out
toworkfromhomewhilsttheworkwasundertaken.Again,duetoLandmarknotbeingabletousethebuildingtheyaskedfor a
rent free period whilst the situation continued.
```
```
Page 2
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`OBJECTIVES AND ACTIVITIES`**
## `Warden's house, damp in an office`
```
It wasnotedby Landmarkthat one wallon the westside of the buildingwasquite wet fromdamp.The architectwasnotified and
oninspectionhethoughttheproblemwasduetoaleakintheleadontheledgebetweenthewarden'shouseandtheeast wall
which was difficultto see as it too was coveredin pigeon detritus.Work in the light well is ongoing.A dehumidifierwas supplied to
Landmark to help to dry the affected meeting room.
```
## `Cladding`
```
Claddinghad been installedon the wall of the warden'shouse to replacerenderingthat had eroded awayand had led to extensive
damp. The cladding was of a plastic nature and was white. The cladding had been extremely successful in protecting the east wall.
```
```
Thearchitecthadadvisedatthequinquennialinspectionthatthetrusteesneededtoapplyforretrospectiveplanning permission
forsucha wallcovering.A planningapplicationwascompletedbythearchitectanddulysubmitted.Theplanningapplication was
refused.Anappealwasraisedexplainingthatthecladdinghadbeenofbenefittothebuilding.Unfortunately,theappeal was
refused.The claddingwill now have to be removedand a suitablematerialused to render the walls.Advice is now being sought by
the architect from the listed building architects at SKDC.
```
## `Roof leak, Flat 7`
```
The resident of Flat 7 reportedthat she was experiencingrainwaterleaking into her kitchen.The chairmanasked the architectif he
wouldinspecttheroofhimselfwhichhedidwhenthescaffoldingwasinplace.Thearchitectfeltthepreviousrepairhad been
shoddy.Acontractor,specialisinginleadworkwasengagedtoinvestigateandhefoundaholeintheleadcoveringwhich he
repaired.He wasunsurethatthis wasthe onlyroofissuetherebut aftersomeweeksof observationthe scaffoldingwas removed
as the work seemed to be completely successful.
```
## `Electrical main fuse`
```
Theelectricalmainfusehadstillnotbeen installedsometwoyearsafterthe mainfuseblew.An appointmentwasmadewith the
caretakerbut the contractorwas ill and did not arrive. It was found that navigatingthe system was a problematicprocess but it was
hoped this would be resolved soon.
```
## `Contactless payment`
```
The Old Hospitalopen dayshavealwaysattracteda numberof visitors.Visitorshad appreciatedlookingaroundthe buildings with
itsartefactsandthechapelwithitspreciousstainedglass.Nochargehadbeenmadeforoccasionalvisitorsbutuptonow many
hadfeltinclinedtoleaveacashdonation.Asmoreandmorevisitorsaskedtomakecardpayments,itbecamenecessary to
researchcontactlesspaymentmachines.Onesuchdevicehasnowbeensourcedbutit remainstobe seenhowcosteffective this
initiative will prove.
```
## `Painted panels`
```
Thecuratorofthemuseumhadnotedthattheyear2025wouldbethe550thyearoftheexistenceofTheHospitalof William
Browne and he was keen to receive ideas on how to mark this anniversary.David Wallingtonsuggested that the two painted panels
in the audit room needed restoring and happily it was recalled that the former trustee and curator,Pam Sharpe, had left a legacy of
£1,000 which had previouslybeen assigned to this project.The trustees were happy to also part fund this projectand the work has
now been completed.
```
## `Boiler issues`
```
IthadbeenreportedtothetrusteesthatproblemswiththewestboilerwascausingproblemsfortheresidentofFlat9.She had
experiencednoise from the boilerwhichcouldbe heard in her flat,particularlyat night,and this had kept her awake.The plumber
who usuallyattends the maintenanceof the boilersdid some researchand recommendeda power flush companywhich dealt with
such problems.The company attended and carried out a power flush of the boiler which worked for a few weeks but then it started
makingthe noiseagain.The powerflushcontractorwascontactedagainand he thoughtthatflushingthe wholesystemwould be
beneficialbut advisedthat the boilerswere at least40 yearsold and wouldrequireupdatingin the near futureto fullyresolve this
issue.The trusteesagreedthatreplacingthe boilerswasthe wayforwardand wouldat leastgivean insightintothe cost. Tenders
are now being sought.
```
```
Page 3
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`OBJECTIVES AND ACTIVITIES`**
## `Time deposits`
```
Theinvestmentswerereviewedin2023anditwasagreedthatallinvestmentswouldbetransferredtoanother investment
company,Rathbones.Thishadbeenverysuccessfulandhadsignificantlyincreasedtheincomefromtheinvestmentsfor the
HospitalandhadmadeBrowne'sself-sufficientwiththeinvestmentincomeandincomefromothersources.However,Mr John
Sutcliffe,trustee,realisedthata significantamounthadbeen satin the currentaccountwhichhe feltwouldbe betterinvested to
achievefurtherinterest.Aminimumamountwaskeptinthecurrentaccounttopayinyearinvoicesandallsurplusfunds were
depositedinfixedtermcashaccountstoincreasetheincomefrominvestments.Amonthlyandasixmonthlyaccountare now
open and held with Rathbones.
```
## `550th Year Anniversary`
```
Trusteeswereawarethatthe 550thAnniversaryofthe existenceofThehospitalofWilliamBrownewouldoccurin 2025and that
theoccasionshouldbecelebrated.TheChairman,DrJohnMitchell,curatorMrDavidWallingtonandthe custodian/caretaker,
Andrew Haigh, have put a programme of events together to celebrate the significant milestone.
```
```
Aserviceofcelebrationhasbeenarrangedwithablessingplannedonthecompletionoftheencapsulationofthestained glass
windows.It is intendedto inviteindividualswho had sponsoredthe encapsulationof the stainedglass windowsto this serviceas a
way of thanking them for their support.
```
## `Summary`
```
Thisyearhad provedto be anotherchallengingyearforthe trusteesparticularlyin respectof the warden'sHousewhereso many
unexpectedrepairswereneededandinadditionotherroofrepairsacrossthesite.However,thetrusteeswerepleasedto have
managed to negotiate annual costs without drawing from the investment capital.
```
```
Thanks must go to John Sutcliffe, who had instrumented a restructuring of the investments and a move to Rathbones.
```
```
The chairmanof the boardand trusteesworktirelesslyforthe benefitof the residentsand to ensurethe futureof the hospital for
many years to come.
```
## **`Public benefit reporting`**
```
Whenreviewingthecharity'sobjectivesandactivitiesandinplanningfutureactivitiesthetrusteeshaveconsideredthe 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 Chairman was disappointedthat the Mayor of Stamford,CouncillorKelham Cooke had been unable to fulfil his role as ex officio
memberoftheboard.Hewasalsodisappointedthatnocouncillorsfromthetowncouncilwhowouldnormallybenominated to
the board had been forthcoming.
```
```
TheschemesoftheHospitaldated1964and1997statethattheMayorofStamfordwouldbeamemberoftheboardinan ex
officiocapacityand two town councillorswould be nominated to the same. This had been a traditionfor many years. The Chairman
had writtento the townclerkto askif this couldbe rectified.Tothe dateof the reporttwotowncouncillorshad been nominated
and it was hoped that all three would attend the March 2025 meeting.
```
## `Museum`
```
Aswellasbeingatrustee,MrDavidWallingtonalsovolunteersasHonoraryCuratorofthemuseumalongwithateam of
volunteers.
```
```
ThemuseumwasopenedonEasterMondaybankholidayandtheMaybankholiday.Thecuratorhadalsoorganisedthat the
museumwouldbeopeneverySaturdayinJunetotheendofSeptemberfrom11.30to15.30.Thetrusteesweregratefulto the
volunteers who had given their time to allow the opening of the museum.
```
```
Page 4
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`OBJECTIVES AND ACTIVITIES`**
## `Residents`
```
The Chairmanwas pleasedto reportthat all residentswere in good healthexceptfor one who had two spellsin hospitaland after
therecentstaywasnowathomeconvalescing.Residentscanresideinthealmshousesaslongastheycanliveindependently or
with the help of carers.
```
## `Flat 7, new resident`
```
AnewresidenthadbeenwelcomedtoBrowne'sHospitalafteranupgradeofthebathroomintheformoftheinstallationof a
shower.It had been previouslyagreedthatit wasthe choiceof the currentresidentsto havethe upgrade,but thatno flats would
be reoccupiedwithoutthis upgrade.Only one flat remainedwith a bath. The new residenthad settled in well and was happy to be
living at Browne's Hospital. The cost of the repairs to Flat 7 were paid for by an anonymous benefactor.
```
```
Thechairmanisgratefulforthehardworkputinbytheboardoftrustees,CarolGarwell,clerktothetrustees,Andrew Haigh,
custodian/caretaker,andtoalltheresidentsandvolunteerswhostrivetolookafterthesitewhichisoneofStamford's most
sought after Almshouses 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.
```
## **`Investment performance`**
```
The trustees were delighted that the investment with Rathbonescharity account continued to be successful.The surplus cash in the
bank's current account had been moved and placed in income producing short and medium-termdeposit 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.
```
```
Page 5
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`FUTURE PLANS`**
```
The coming year is shaping up to be equally as challenging as the last.
```
```
It is hopedthatthe renovationof the outsidetoiletswouldbe completedin the year,hopefullywithfinancialhelp fromthe Harry
Skells Trust.
```
```
The cladding on the warden's house wall will need to be removed and replaced and the lightwell ledge made good.
```
```
Otherrepairsin this yearwillincludethe newlydiscoveredand significantroofleakabovethe auditroomstepswhichwill require
assistance from the architect and listed building consent.
```
```
Building partitions in the roof voids of the almshouses will need to be completed as part of the fire safety work.
```
```
It is also hoped that the subsidence to the cloister roof and wall will also be repaired.
```
```
Thereisaprogrammeofeventstocelebratethe550thanniversary,butthecontributionfromtheJohnPlumblegacymust be
rememberedwhichhasenabledBrowne'sHospitalto be ableto affordthe restorationsthatareneededto preservethe buildings
for future generations.
```
## **`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.
```
## **`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.
```
## `Reappointment of trustees`
```
The Chairmanwas pleasedto reportthat three trusteeswere re-appointedduring the 2024 year.These were Mr David Wallington
reappointedatthespecialmeetingofthetrusteeson4March,AndrewCroftonthespecialmeetingofthetrusteeson 30
September and Mr Mark Walmsley at the special meeting of the trustees on 25 November.He welcomedeach trustee in turn at the
respectivequarterlymeetingsand was delightedthat they wishedto continueas trusteesfor the Hospitalof WilliamBrowneas he
felt each and every trustee brought their own skills to the board.
```
## **`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
```
```
Page 6
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`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
```
```
Approved by order of the board of trustees on 2 July 2025 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 report to the charitytrustees on my examinationof the accountsof The Hospitalof William Browne (the Trust) for the year ended
31 December 2024.
```
## **`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 2025
```
```
Page 8
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024`**
|`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 on investments`
**`NET INCOME`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`funds`
`£`
`50`
`63,668`
`2,433`
`82,201`
`148,352`
`78,333`
`113`
`64,299`
`142,745`
`143,832`
`149,439`
`3,240,803`
`3,390,242`|`Restricted`
`fund`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`|`2024`
`Total`
`funds`
`£`
`50`
`63,668`
`2,433`
`82,201`
`148,352`
`78,333`
`113`
`64,299`
`142,745`
`143,832`
`149,439`
`3,240,803`
`3,390,242`|`2023`
`Total`
`funds`
`as restated`
`£`
`55,930`
`56,071`
`2,509`
`75,140`|
|---|---|---|---|---|
|||||`189,650`|
|||||`69,873`
`1,794`
`99,561`|
|||||`171,228`|
|||||`54,524`|
|||||`72,946`
`3,167,857`|
|||||`3,240,803`|
```
The notes form part of these financial statements
```
```
Page 9
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`STATEMENT OF FINANCIAL POSITION 31 DECEMBER 2024`**
|`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`**
`17`
`Unrestricted funds`
**`TOTAL FUNDS`**|`2024`
`£`
`495,839`
`2,393,495`
`450,000`
`3,339,334`
`10,455`
`53,167`
`63,622`
`(12,714)`
`50,908`
`3,390,242`
`3,390,242`
`3,390,242`
`3,390,242`|`2023`
`as restated`
`£`
`495,839`
`2,229,663`
`450,000`
`3,175,502`
`9,718`
`65,899`
`75,617`
`(10,316)`
`65,301`
`3,240,803`
`3,240,803`
`3,240,803`
`3,240,803`|
|---|---|---|
```
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon2July2025andweresignedon 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 2024`**
## **`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 December2024 wasnot significantly different
from this valuation.The valuationof £400,000 thereforeremains the one used for these financialstatements,in addition to
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 11
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
```
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
```
## **`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 12
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`1. ACCOUNTING POLICIES - continued`**
## **`Hire purchase and leasing commitments`**
```
RentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivitiesonastraightlinebasisover the
period of the lease.
```
## **`Listed investments`**
```
Fixed asset investments represent long term investments and are stated at fair value.
```
## **`Critical accounting judgements and estimation uncertainty`**
```
Intheapplicationofthecharity'saccountingpolicies,managementarerequiredtomakejudgements,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.
```
## **`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`**
|`Donations`
`Grants`
**`INVESTMENT INCOME`**
`Rents received from wardens house`
`Rent and room hire`
`Dividends on listed investment`
`Deposit account interest`
`HMRC interest`|`2024`
`2023`
`as restated`
`£`
`£`
`50`
`29,930`
`-`
`26,000`
`50`
`55,930`
`2024`
`2023`
`as restated`
`£`
`£`
`22,084`
`24,323`
`1,873`
`1,801`
`58,173`
`48,975`
`65`
`41`
`6`
`-`
`82,201`
`75,140`|
|---|---|
## **`3. INVESTMENT INCOME`**
```
continued...
```
```
Page 13
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`4. INCOME FROM CHARITABLE ACTIVITIES`**
|`Almshouses`
`£`
`Maintenance charges to almshouse residents`
`63,668`
`Museum income`
`-`
`63,668`
**`5.`**
**`CHARITABLE ACTIVITIES COSTS`**
`Almshouses`
`Museum`
**`6.`**
**`SUPPORT COSTS`**
`Other resources expended`
`Almshouses`
`Museum`|`2024`
`a`
`Total`
`Museum`
`activities`
`£`
`£`
`-`
`63,668`
`2,433`
`2,433`
`2,433`
`66,101`
`Support`
`Direct`
`costs (see`
`Costs`
`note 6)`
`£`
`£`
`6,970`
`71,363`
`-`
`113`
`6,970`
`71,476`
`Governance`
`Other`
`costs`
`£`
`£`
`50,458`
`12,959`
`71,363`
`-`
`113`
`-`
`121,934`
`12,959`|`2023`
`s restated`
`Total`
`activities`
`£`
`56,071`
`2,509`
`58,580`
`Totals`
`£`
`78,333`
`113`
`78,446`
`Totals`
`£`
`63,417`
`71,363`
`113`
`134,893`|
|---|---|---|
## **`7. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2024norfortheyear ended
31 December 2023.
```
## **`Trustees' expenses`**
```
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
```
```
continued...
```
```
Page 14
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`8. STAFF COSTS`**
```
The average monthly number of employees during the year was as follows:
```
|`Administration`
`Caretaker`|`2024`
`as`
`1`
`1`
`2`|`2023`
`restated`
`1`
`1`
`2`|
|---|---|---|
```
No employees received emoluments in excess of £60,000.
```
## **`9. PRIOR YEAR ADJUSTMENT`**
```
The comparativefigures within these financialstatementshave been restated to reflect investmentsof £100,000that were
duplicated within the cash balance.
```
## **`10. HERITAGE ASSETS`**
|**`HERITAGE ASSETS`**||
|---|---|
|**`MARKET VALUE`**
`At 1 January 2024 and 31 December 2024`
**`NET BOOK VALUE`**
`At 31 December 2024`
`At 31 December 2023`|`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
£400,000thereforeremainsthe one used for these financialstatements,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 £211,253
(2023 - £182,412).
```
```
continued...
```
```
Page 15
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`11. FIXED ASSET INVESTMENTS`**
## **`12.`**
|**`MARKET VALUE`**
`At 1 January 2024`
`Additions`
`Revaluations`
`At 31 December 2024`
**`NET BOOK VALUE`**
`At 31 December 2024`
`At 31 December 2023`
`There were no investment assets outside the UK.`
`Cost or valuation at 31 December 2024 is represented by:`
`Valuation in 2024`
**`INVESTMENT PROPERTY`**
**`FAIR VALUE`**
`At 1 January 2024`
`and 31 December 2024`
**`NET BOOK VALUE`**
`At 31 December 2024`
`At 31 December 2023`|`Listed`
`investments`
`£`
`2,229,663`
`20,000`
`143,832`
`2,393,495`
`2,393,495`
`2,229,663`
`Listed`
`investments`
`£`
`2,393,495`
`£`
`450,000`
`450,000`
`450,000`|
|---|---|
|||
```
Included in investment property is freehold land valued at £150,000 (2023 - £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 2024 is not significantly different from this valuation.
```
## **`13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
|**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**|||
|---|---|---|
||`2024`|`2023`|
|||`as restated`|
||`£`|`£`|
|`Other debtors and prepayments`|`10,455`|`9,718`|
```
continued...
```
```
Page 16
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
|`Trade creditors`
`Taxation and social security`
`Other creditors`|`2024`
`2023`
`as restated`
`£`
`£`
`6,021`
`4,366`
`826`
`733`
`5,867`
`5,217`
`12,714`
`10,316`|
|---|---|
## **`15. LEASING AGREEMENTS`**
```
Lease payments receivable by the charity under operating leases on its investment property are due as follows:
```
|||||`2024`||`2023`|
|---|---|---|---|---|---|---|
|||||`£`||`£`|
|`Within one year`||||`18,000`||`18,000`|
|`Between one and five years`||||`72,000`||`72,000`|
|`In more than five years`||||`27,540`||`45,540`|
||||||||
|||||`117,540`||`135,540`|
||||||||
|**`ANALYSIS OF NET ASSETS BETWEEN FUNDS`**
`Fixed assets`
`Investments`
`Current assets`
`Current liabilities`
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`Main fund`
`Cyclical repair fund`
`Extraordinary repair fund`
**`TOTAL FUNDS`**|`Unrestricted`
`funds`
`£`
`495,839`
`2,843,495`
`63,622`
`(12,714)`
`3,390,242`|`Restricted`
`fund`
`£`
`-`
`-`
`-`
`-`
`-`
`At 1.1.24`
`£`
`2,766,916`
`238,094`
`235,793`
`3,240,803`
`3,240,803`||`2024`
`Total`
`funds`
`£`
`495,839`
`2,843,495`
`63,622`
`(12,714)`
`3,390,242`
`Net`
`movement`
`in funds`
`£`
`114,533`
`15,356`
`19,550`
`149,439`
`149,439`||`2023`
`as restated`
`Total`
`funds`
`£`
`495,839`
`2,679,663`
`75,617`
`(10,316)`
`3,240,803`
`At`
`31.12.24`
`£`
`2,881,449`
`253,450`
`255,343`
`3,390,242`
`3,390,242`|
||||||||
||||||||
||||||||
||||||||
## **`16. ANALYSIS OF NET ASSETS BETWEEN FUNDS`**
## **`17. MOVEMENT IN FUNDS`**
```
continued...
```
```
Page 17
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`17. MOVEMENT IN FUNDS - continued`**
```
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`
`£`
`148,352`
`-`
`-`
`148,352`
`148,352`|`Resources`
`expended`
`£`
`(142,745)`
`-`
`-`
`(142,745)`
`(142,745)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`108,926`
`114,533`
`15,356`
`15,356`
`19,550`
`19,550`
`143,832`
`149,439`
`143,832`
`149,439`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`108,926`
`114,533`
`15,356`
`15,356`
`19,550`
`19,550`
`143,832`
`149,439`
`143,832`
`149,439`|
|---|---|---|---|---|
|||||`149,439`|
|||||`149,439`|
## **`Comparatives for movement in funds`**
|**`Unrestricted funds`**
`Main fund`
`Cyclical repair fund`
`Extraordinary repair fund`
**`TOTAL FUNDS`**|`At 1.1.23`
`£`
`2,707,582`
`232,107`
`228,168`
`3,167,857`
`3,167,857`|`Net`
`movement`
`in funds`
`£`
`59,334`
`5,987`
`7,625`
`72,946`
`72,946`|`At`
`31.12.23`
`£`
`2,766,916`
`238,094`
`235,793`|
|---|---|---|---|
||||`3,240,803`|
||||`3,240,803`|
```
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`
`£`
`189,650`
`-`
`-`
`189,650`
`189,650`|`Resources`
`expended`
`£`
`(171,228)`
`-`
`-`
`(171,228)`
`(171,228)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`40,912`
`59,334`
`5,987`
`5,987`
`7,625`
`7,625`
`54,524`
`72,946`
`54,524`
`72,946`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`40,912`
`59,334`
`5,987`
`5,987`
`7,625`
`7,625`
`54,524`
`72,946`
`54,524`
`72,946`|
|---|---|---|---|---|
|||||`72,946`|
|||||`72,946`|
```
continued...
```
```
Page 18
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`17. MOVEMENT IN FUNDS - continued`**
```
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`
**`TOTAL FUNDS`**|`At 1.1.23`
`£`
`2,707,582`
`232,107`
`228,168`
`3,167,857`
`3,167,857`|`Net`
`movement`
`in funds`
`£`
`173,867`
`21,343`
`27,175`
`222,385`
`222,385`|`At`
`31.12.24`
`£`
`2,881,449`
`253,450`
`255,343`|
|---|---|---|---|
||||`3,390,242`|
||||`3,390,242`|
```
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`
`£`
`338,002`
`-`
`-`
`338,002`
`338,002`|`Resources`
`expended`
`£`
`(313,973)`
`-`
`-`
`(313,973)`
`(313,973)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`149,838`
`173,867`
`21,343`
`21,343`
`27,175`
`27,175`
`198,356`
`222,385`
`198,356`
`222,385`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`149,838`
`173,867`
`21,343`
`21,343`
`27,175`
`27,175`
`198,356`
`222,385`
`198,356`
`222,385`|
|---|---|---|---|---|
|||||`222,385`|
|||||`222,385`|
```
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.
```
## **`18. RELATED PARTY DISCLOSURES`**
```
Donationstotalling£nil(2023-£4,000)werereceivedduringtheyearfromtrustees.Therewerenootherrelated party
transactions.
```
## **`19. ULTIMATE CONTROLLING PARTY`**
```
The charity is controlled by the board of trustees.
```
```
continued...
```
```
Page 19
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`**
## **`20. FINANCIAL INSTRUMENTS`**
```
The charity has the following financial instruments:
```
||`2024`|`2023`|
|---|---|---|
||`£`|`£`|
|**`Financial assets at fair value through the statement of financial activities`**|||
|`Listed investments`|`2,393,495`|`2,229,663`|
|**`Financial liabilities measured at amortised cost`**|||
|`Trade creditors`|`6,021`|`4,366`|
```
The income, expenses, net gains and net losses attributable the charity's financial instruments are summarised as follows:
```
|`Income and expense`|`2024`|`2023`|
|---|---|---|
||`£`|`£`|
|`Financial assets measured at fair value through the statement of financial activities`|`58,173`|`48,975`|
|`Net gains and losses`|||
|`Financial assets measured at fair value through the statement of financial activities`|`143,832`|`54,524`|
```
Thetotalinterestincomeandinterestexpenseforfinancialassetsandfinancialliabilitiesthatarenotmeasuredat fair
value through the statement of financial activities was £65 (2023 - £41) and £nil (2023 - £nil) respectively.
```
## **`Listed investments`**
```
Thecharityhasanumberoflistedinvestments.Thevaluationsarebasedonrecenttransactionsandaredetermined by
the investment manager being Rathbones.
```
## **`21. INDEPENDENT EXAMINER'S FEE`**
```
The independentexaminationfee chargedforthe yearwas£1,900(2023- £1,500).Otherservicesprovidedto the charity
by the independent examiner related to accounts preparation services for which £3,500 (2023 - £3,300) was charged.
```
```
Page 20
```
```
THE HOSPITAL OF WILLIAM BROWNE
```
## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024`**
|**`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`
`HMRC 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`
`Repairs and renewals`
`Rates and water`
`Insurance`
`Light and heat`
`Telephone`
`Sundries`
`Office costs`|`2024`
`as`
`£`
`50`
`-`
`50`
`22,084`
`1,873`
`58,173`
`65`
`6`
`82,201`
`63,668`
`2,433`
`66,101`
`148,352`
`3,377`
`1,353`
`2,240`
`6,970`
`507`
`375`
`882`
`9,934`
`72,650`
`258`
`17,552`
`19,707`
`557`
`190`
`1,086`
`121,934`|`2023`
`restated`
`£`
`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`|
```
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 2024`**
|**`DETAILED STATEMENT OF FINANCIAL ACTIVITIES`**
**`FOR THE YEAR ENDED 31 DECEMBER 2024`**|||
|---|---|---|
|**`Other`**
**`Governance costs`**
`Professional fees`
`Accountancy`
`Admin wages`
`Total resources expended`
**`Net income`**|`2024`
`as`
`£`
`159`
`5,700`
`7,100`
`12,959`
`142,745`
`5,607`|`2023`
`restated`
`£`
`175`
`6,600`
`6,000`|
|||`12,775`|
|||`171,228`|
|||`18,422`|
```
This page does not form part of the statutory financial statements
```
```
Page 22
```