**REGISTERED CHARITY NUMBER: 225878** 

**REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 FOR THE MAGDALEN HOSPITAL TRUST** 

HB&O Ltd Chartered Accountants Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT 



**THE MAGDALEN HOSPITAL TRUST** 

**CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 5 April 2025** 

||Page|
|---|---|
|Report of the Trustees|1 to 2|
|Independent Examiner's Report|3|
|Statement of Financial Activities|4|
|Balance Sheet|5|
|Notes to the Financial Statements|6 to 10|
|Detailed Statement of Financial Activities|11|





**THE MAGDALEN HOSPITAL TRUST** 

## **REPORT OF THE TRUSTEES** 

## **for the year ended 5 April 2025** 

The trustees present their report with the financial statements of the charity for the year ended 5 April 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 225878 

## **Principal address** 

c/o The Reverend Robert H Mitchell MA Tenbury House 36 Teme Street Tenbury Wells Worcestershire WR15 8AA 

## **Trustees** 

The Reverend Robert H Mitchell MA – Chairman & Correspondent Ms Diana Lazenby McLaren MA FRSA – Vice-Chair The Hon Edward Wood FCA Ms Leonora S C Wood MA Mr Edward Barnett BA The Reverend Dr Steffan I M Mathias BA MA PhD AKC 

## **Treasurer** 

Mr J Roderick G Arthur MBA BSc MICB PMDIP 

**Independent examiner Investment managers** HB&O Ltd Gore Browne Investment Manager Chartered Accountants Chequers Court Highdown House 37 Brown Street 11 Highdown Road Salisbury Leamington Spa Wiltshire Warwickshire SP 2AS CV31 1XT 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. 

## **Risk management** 

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. 

Page 1 



**THE MAGDALEN HOSPITAL TRUST** 

## **REPORT OF THE TRUSTEES** 

**for the year ended 5 April 2025** 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Charitable activities** 

The Trust was formed on 8th February 1973 from the sale proceeds of the original Magdalen Hospital, which had been formed in 1758 "to provide women and girls on the streets a safe, desirable and happy retreat from their wretched and distressful circumstances." It is believed to be the oldest charity in Britain to be founded for this work. 

Since 1973 this small trust, initially valued at £417,419, has aimed to promote the welfare of children and young people under the age of 25, regardless of gender, who suffer from the various effects of deprivation, including abuse of all kinds, issues around mental and physical health, inadequate housing, lone parenting, unemployment and lack of education or training. 

## **Training** 

There are currently six trustees, of whom 2 are official nominations from the Archbishop of Canterbury and the Bishop of Southwark.  The others are appointed or co-opted by choice of the existing trustees. Presently trustees meet three to four times a year. 

## **Applications** 

Applications are currently accepted from UK-registered Charities and Charitable Incorporated Organisations. Preference is given to small community groups that work with trained and accredited volunteers. Grants usually range from £200 - £2,000 and the Trust's disposable income rarely exceeds £50k per annum. 

All applications are made online (www.magdalentrust.org.uk) and are expected to include a copy of the organisation's annual report and accounts.  There is no office. 

During 2024/25 trustees distributed a total of £49,400 in grants (see Accounts for a list of beneficiaries). Funds are managed by Gore Browne Investment Management Ltd with a view to balancing long-term growth and protection of assets with an appropriate response to current need. 

Approved by order of the board of trustees on ............................................. and signed on its behalf by: 


............................................................ 

The Reverend Robert H Mitchell MA 

## **Chairman** 

Page 2 



**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MAGDALEN HOSPITAL TRUST** 

I report on the accounts for the year ended 5 April 2025, which are set out on pages four to ten. 

## **Responsibilities and basis of report** 

As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). 

I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act').  In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

My role is to state whether any material matters have come to my attention giving me cause to believe: 

1. that accounting records were not kept as required by section 130 of the Act; or 

2. that the accounts do not accord with those records; or 

3. that the accounts do not comply with the accounting requirements of the Act; or 

4. that there is further information needed for a proper understanding of the accounts. 

## **Independent examiner's statement** 

I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention. 

Mark Ashfield ICAEW HB&O Ltd Chartered Accountants Highdown House 11 Highdown Road Leamington Spa Warwickshire CV31 1XT 

Date: ............................................. 

Page 3 



## **THE MAGDALEN HOSPITAL TRUST** 

## **STATEMENT OF FINANCIAL ACTIVITIES** 

## **for the year ended 5 April 2025** 

|||||**2025**|2024|
|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**<br>|**Total  funds**|Total  funds|
|||**fund**|**fund**|||
||Not|**£**|**£**|**£**|£|
||es|||||
|**INCOMING RESOURCES**||||||
|**Incoming resources from generated funds**||||||
|Investment income|2|**-**|**33,087**|**33,087**|25,674|
|**Other incoming resources**||**-**|**19,929**|**19,929**|44,513|
|**RESOURCES EXPENDED**||||||
|**Charitable activities**||||||
|Grants||**-**|**49,400**|**49,400**|48,880|
|**Governance costs**||**-**|**7,506**|**7,506**|7,149|
|**Other resources expended**||**3,859**|**50**|**3,909**|4,254|
|**Total resources expended**||**3,859**|**56,956**|**60,815**|60,283|
|**NET INCOMING/(OUTGOING)**||||||
|**RESOURCES BEFORE TRANSFERS**||**(3,859)**|**(3,940)**|**(7,799)**|9,904|
|**Gross transfers between funds**|8|**4,574**|**(4,574)**|**-**|-|
|**Net incoming/(outgoing) resources**||**715**|**(8,514)**|**(7,799)**|9,904|
|**RECONCILIATION OF FUNDS**||||||
|**Total funds brought forward**||**(2,118)**|**837,519**|**835,401**|825,497|
|**TOTAL FUNDS CARRIED FORWARD**||**(1,403)**|**829,005**|**827,602**|835,401|



The notes form part of these financial statements 

Page 4 



## **THE MAGDALEN HOSPITAL TRUST** 

## **BALANCE SHEET** 

## **At 5 April 2025** 

|||||**2025**|2024|
|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**<br>|**Total  funds**|Total  funds|
|||**fund**|**fund**|||
||Not|**£**|**£**|**£**|£|
||es|||||
|**FIXED ASSETS**||||||
|Investments|6|**-**|**814,398**|**814,398**|801,526|
|**CURRENT ASSETS**||||||
|Cash at bank||**247**|**14,607**|**14,854**|36,035|
|**CREDITORS**||||||
|Amounts falling due within one year|7|**(1,650)**|**-**|**(1,650)**|(2,160)|
|**NET CURRENT ASSETS/(LIABILITIES)**||**(1,403)**|**14,607**|**13,204**|33,875|
|**TOTAL ASSETS LESS CURRENT**||||||
|**LIABILITIES**||**(1,403)**|**829,005**|**827,602**|835,401|
|**NET ASSETS/(LIABILITIES)**||**(1,403)**|**829,005**|**827,602**|835,401|
|**FUNDS**|8|||||
|Unrestricted funds||||**(1,403)**|(2,118)|
|Restricted funds||||**829,005**|837,519|
|**TOTAL FUNDS**||||**827,602**|835,401|



The financial statements were approved by the Board of Trustees on ............................................. and were signed on its behalf by: 


..................................................... The Reverend R H Mitchell MA 

## **Chairman** 

The notes form part of these financial statements 

Page 5 



**THE MAGDALEN HOSPITAL TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS for the year ended 5 April 2025** 

## **1. ACCOUNTING POLICIES** 

## **Accounting convention** 

The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. 

## **Incoming resources** 

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. 

## **Resources expended** 

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. 

## **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. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity.  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. 

## **2. INVESTMENT INCOME** 

|Other fixed asset invest - FII<br>Interest receivable - trading|**2025**<br>**£**<br>**28,441**<br>**4,646**<br>**33,087**|2024<br>£<br>22,414<br>3,260|
|---|---|---|
|||25,674|



## **3. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024. 

Page 6 



**THE MAGDALEN HOSPITAL TRUST** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the year ended 5 April 2025** 

## **4. STAFF COSTS** 

|Wages and salaries<br>The average monthly number of employees during the year was as follows:<br>No employees received emoluments in excess of £60,000.|**2025**<br>**£**<br>**2,160**<br>**2025**<br>**1**|2024<br>£<br>2,221|
|---|---|---|
|||2024<br>1|
||||



## **5. GRANTS APPROVED IN YEAR** 

|YES Outdoors|**2,000**|
|---|---|
|Escape Intervention Services ltd|**1,400**|
|Grimethorpe Activity Zone|**1,500**|
|Karele Ltd|**1,500**|
|Purple Elephant Family Support|**500**|
|Sirona Theraeutic Horsemanship|**1,500**|
|Assisting Berkshire Children to Read|**1,500**|
|Brierley Hill Bannybank|**700**|
|Mentor Link|**1,000**|
|TLC Foundation|**2,000**|
|Tyler's Trust|**1,000**|
|Cross-Link Dover|**2,000**|
|Didcot TRAIN|**1,000**|
|Elevate Her UK|**2,000**|
|The MARS Trust|**2,000**|
|POW Thanet|**1,000**|
|Protect Project|**1,000**|
|Safeempowerment|**2,000**|
|SEEN Ltd|**1,800**|
|Switch Youth Services|**1,000**|
|The Windmill Trust|**1,000**|
|Wycome Youth Action|**2,000**|
|Ashdon Jazz Academy|**2,000**|
|Bounce! Brighter Futures Foundation|**2,000**|
|Counselling in the Community|**2,000**|
|Educate in the Community|**2,000**|
|Educate NoMutilate|**2,000**|
|Georgia's Voice|**2,000**|
|Mind Over Cancer|**2,000**|
|Nottingham CYF Project|**2,000**|
|The Sparkle Foundation UK|**2,000**|
|True Butterflies Foundation|**2,000**|
|Total|**49,400**|



Page 7 



## **THE MAGDALEN HOSPITAL TRUST** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED** 

**for the year ended 5 April 2025** 

## **6. FIXED ASSET INVESTMENTS** 

||**Listed**|
|---|---|
||**investments**|
||**£**|
|**MARKET VALUE**||
|At 6 April 2024|**801,526**|
|Additions|**259,962**|
|Disposals|**(197,297**)|
|Revaluations|**(49,793**)|
|At 5 April 2025|**814,398**|
|**NET BOOK VALUE**||
|At 5 April 2025|**814,398**|
|At 5 April 2024|801,526|



There were no investment assets outside the UK. 

## **7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|||||**2025**||2024|
|---|---|---|---|---|---|---|
|||||**£**||£|
||Other creditors|||**1,650**||2,160|
|**8.**|**MOVEMENT IN FUNDS**||||||
||||**Net**|**Transfers**|||
||||**movement in**|**between**|||
|||**At 6.4.24**|**funds**|**funds**||**At 5.4.25**|
|||**£**|**£**|**£**||**£**|
||**Unrestricted funds**||||||
||General fund|**(2,118)**|**(3,859)**|**4,574**||**(1,403**)|
||**Restricted funds**||||||
||Restricted Fund|**837,519**|**(3,940)**|**(4,574)**||**829,005**|
||**TOTAL FUNDS**|**835,401**|**(7,799)**|**-**||**827,602**|
||Net movement in funds, included in the above are as follows:||||||
||||**Incoming**|**Resources**<br>|**Movement in**||
||||**resources**|**expended**||**funds**|
||||**£**|**£**||**£**|
||**Unrestricted funds**||||||
||General fund||**-**|**(3,859)**||**(3,859**)|
||**Restricted funds**||||||
||Restricted Fund||**53,016**|**(56,956)**||**(3,940**)|
||**TOTAL FUNDS**||**53,016**|**(60,815)**||**(7,799**)|



Page 8 



**THE MAGDALEN HOSPITAL TRUST** 

## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the year ended 5 April 2025** 

## **8. MOVEMENT IN FUNDS - continued** 

## **Comparatives for movement in funds** 

|**Comparatives for movement in funds**|||||||
|---|---|---|---|---|---|---|
||||**Net**|**Transfers**|||
|||**movement in**||**between**|||
||**At 6.4.23**||**funds**|**funds**||**At 5.4.24**|
||**£**||**£**|**£**||**£**|
|**Unrestricted Funds**|||||||
|General fund|**(1,785)**||**(4,253)**|**3,920**||**(2,118)**|
|**Restricted Funds**|||||||
|Restricted Fund|**827,282**||**14,157**|**(3,920)**||**837,519**|
|**TOTAL FUNDS**|**825,497**||**9,904**|**-**||**835,401**|
|Comparative net movement in funds, included in the above are||as follows:|||||
||||**Incoming**|**Resources**|Movement in||
||||**resources**|**expended**||funds|
||||**£**|**£**||£|
|**Unrestricted funds**|||||||
|General fund|||**-**|**(4,253)**||**(4,253)**|
|**Restricted funds**|||||||
|Restricted Fund|||**70,187**|**(56,030)**||**14,157**|
|**TOTAL FUNDS**|||**70,187**|**(60,283)**||**9,904**|



A current year 12 months and prior year 12 months combined position is as follows: 

||||**Net**|**Transfers**|||
|---|---|---|---|---|---|---|
||||**movement in**|**between**|||
||**At 6.4.23**||**funds**|**funds**|**At 5.4.25**||
|||**£**|**£**|**£**||**£**|
|**Unrestricted funds**|||||||
|General fund||**(1,785)**|**(8,112)**|**8,494**||**(1,403**)|
|**Restricted funds**|||||||
|Restricted Fund|**827,282**||**10,217**|**(8,494)**|**829,005**||
|**TOTAL FUNDS**|**825,497**||**2,105**|**-**|**827,602**||



Page 9 



**THE MAGDALEN HOSPITAL TRUST** 

**NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the year ended 5 April 2025** 

## **8. MOVEMENT IN FUNDS - continued** 

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

||**Incoming**|**Resources**<br>|**Movement in**|
|---|---|---|---|
||**resources**|**expended**|**funds**|
||**£**|**£**|**£**|
|**Unrestricted funds**||||
|General fund|**-**|**(8,112)**|**(8,112**)|
|**Restricted funds**||||
|Restricted Fund|**123,203**|**(112,986)**|**10,217**|
|**TOTAL FUNDS**|**123,203**|**(121,098)**|**2,105**|



Page 10 



**THE MAGDALEN HOSPITAL TRUST** 

**DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 5 April 2025** 

|**INCOMING RESOURCES**<br>**Investment income**<br>Other fixed asset invest - FII<br>Interest receivable - trading<br>**Other incoming resources**<br>Gain on sale of tangible fixed assets<br>Unrealised gain on investment<br>**Total incoming resources**<br>**RESOURCES EXPENDED**<br>**Charitable activities**<br>Grants to individuals<br>**Governance costs**<br>Legal fees<br>**Support costs**<br>**Management**<br>Treasurer's fees<br>Postage and stationery<br>Sundries<br>**Finance**<br>Bank charges<br>**Other 4**<br>Accountancy and legal fees<br>**Total resources expended**<br>**Net (expenditure)/income**|**2025**<br>**£**<br>**28,441**<br>**4,646**<br>**33,087**<br>**68,089**<br>**(48,160)**<br>**19,929**<br>**53,016**<br>**49,400**<br>**7,506**<br>**2,160**<br>**247**<br>**50**<br>**2,457**<br>**13**<br>**1,439**<br>**60,815**<br>**(7,799)**|2024<br>£<br>22,414<br>3,260|
|---|---|---|
|||25,674<br>9,265<br>35,248|
|||44,513|
|||70,187<br>48,880<br>7,149<br>2,221<br>175<br>-|
|||2,396<br>-<br>1,858|
|||60,283|
|||9,904|



This page does not form part of the statutory financial statements 

Page 11 



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## **Document Details** 

**Document ID** d5fb0000-a5c8-7679-e192-08ddebb3c7a2 **Document Bundle ID** b1370000-815e-7e26-ce16-08ddebb3c85a **Uploaded to FuseSign** 2025-09-04 13:07 +00:00 **FuseSign subscriber** HB&O **Initiator email** mark.green@hboltd.co.uk **Signed by** Mr Robert Mitchell (correspondent@magdalentrust.org.uk) **System finalisation** 2025-09-04 14:35 +00:00 **Verify URL** https://app.fuse.work/fusesign/verify/d5fb0000-a5c8-7679-e192-08ddebb3c7a2 

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## **Signer 1** 

**Name** Mr Robert Mitchell **Email** correspondent@magdalentrus t.org.uk **Mobile** N/A **IP Address/es** 77.104.188.252 **Signed on Pages** 4, 7 **Verification Mode** Email Code 


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|**DATE TIME**|**USER**|**TRANSACTION**|
|---|---|---|
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|2025-09-04 14:33 +00:00|MR ROBERT MITCHELL|EMAIL VERIFICATION REQUESTED TO EMAIL|
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|2025-09-04 14:34 +00:00|MR ROBERT MITCHELL|DOCUMENT SIGNED: MAGDALEN HOSPITAL TRUST - 2025 ACCOUNTS [FYI-|
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|2025-09-04 14:34 +00:00|MR ROBERT MITCHELL|DOCUMENT SIGNED: MAGDALEN HOSPITAL TRUST - 2025 ACCOUNTS [FYI-|
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