REGISTERED CHARITY NUMBER: 226893 Report of the Trustees #nd Uttaudited Financial StstentS for the Year Ended 30 June 2U24 f•r Sp¢¢.$ H05pitsI Cltarity StlTk Labert & Co ThRn£rcd.4ccount3nts Russcll ChaTnbeTS nla North Sirect .c¢ighle) est Yorkshire 13r)71 3DS
Spence's H&5pitsI Charin. Conttnts tsf the Finant1 Statements. for the Year EdmI.70 Juoe 2024 Page Report tsfthe Truste Indwndent Exarniner's Rwrt Slattment Of1£1*1 AcVIeS Balance Sheet Notes to the FIanCIAl Statewnts 7 to 10 Detayled Statrmtht of Financial Activitits
Spen¢e'5 Hospital Chartty Repfyn tsf ibe Trustees for the Year Ended 30 )ne 2024 Thc tru%tees Pre1 their repott with tbe fiTr8ncial sraternents of the ¢haTSty for the vear ended 30 June 2024. The tn]stcos have adopted thL provisions of .4ccountin2 and Reporting by ChaTitie5.' Statement of Recommendcd Praclicc appliLable ro ¢harittes preparing iheir ac¢ounts in accordance the Financial RqKning Standard applical)le in th¢ UK and Republic ot Ireland (FRS 102) leftective l January 2019). OBJEC'fivES AND ACTIIqTtES Primaiily the Cbarjty was cstablished proiryde rcsidences foi poor ld-t in the Parish of Carleton at Jje I]e of appointtneLt. Where clairns aT¢ 0th¢rn75e equ31 preference shall be given lo the 0[¢ a¥ed applicant. In default ()f a 5Llltabl¢ appliLiU]t residLnt as aforesaid the T1¢eS rnay appoint a peNm otherwise qu21ified WILO ts re6iO¢nÈ in any of tht neigbboyring parishes. ACHIEVEMEf4iT AND PERFORMANCE Charitable attivitie5 The Charity h&$ continued to provide aLronJtDodation up to eigbi residents dlld a warden ai Spen¢v'b Court, the ChaTiiies premises ai Carleti)n In CT3V¢IJ. During the yeai lo 30th June 2024 there have beell exceptional iten]s of expenditure on mailrtenance as follows= C.Dmpletion of Returbishment of Fl 4_ £10.449 FINAIICIAL REVIEW The reslllts shawrt within these Financial Statemenis are in ac)rdanCe wth expectations of the Ttustees. MainteDance ContributlODS It) contQrnllly 1th the TDJstEes' policN' of periodic the Weekly MaTTltenaTrce ContributiQT) was revicwed at the M¢¢tiTrg held on 18th slptCber 2023 when the Charitys Budget based on Thc Almshouse Association SPCCiTnen ouiline budgei for 2023124 was Consided. The TTuse5 resolN'ed thal.he Weekly Maintenance ConiTibulion sliould bL' increased by an av¢ra¥e of £4.61 per week per flai whiLh 0Id also include the Heating Contribution. Tlu Contribuiioll rLEIned etTcctive for thL' remaindu of ihe lear 10 30th June 2024. Tlie maintenance coniribution was gaift reviLWtd L)n 22nd O¢ivber 2024 8t IL w&$ that an av¢rd¥C incr&e of £4.03 per wcck14Q/ol bc iEnplemented from Isi Ik'cember-.024.- Keserves policv The Trll%iees 4avc established maintain a roqerves policv and they include cllsutitsg a provision is budgeted foT each year fur C}Lli¢al and Extraordinary MainteDancc in acCOrdanL M"irh AITnshouse .4sgttiatiOrt rccotnmendations. "rhe trustees nOT[tlIV d contribution each vear to the ExtTaordinaTI' Repair Fund {ERFI being a reserve fimd for the purpose ot providing or the extraoTdin2ry r¢pair, ImproN.em(l or rebuildjns ol thc ALtt]shouscs froTn tiiiic to tiopc belon¥ing to the Chariti,.DepeAdeni upon the level of expenditure incunrd on >uch lien in dn accounting peTIDd, tran5fknf5 are then made trom Income and Expenditure ALfOUllI_Thi% fund can be drawi upon 10 meet major items of ImprovBmtnL%' or extraordinary repairs by applieai-.on EO tht furMI managers withou-: the prior consertt of the ChaTitiT Cominigsione15. Each year th2 Almsh(Truse Assocthation retornmend a minimum lewel of proi'i5ioii for the ERF and this 15 normallv invcsted in Charifi]nd M&G A¢¢uEnulwion Lnirs and added its Iht Charity'5 exi%ting holding. The TTUStees liave al80 e8tsbli%hed a Cyclical Maintenatjce Fund (CMFI To wliich transfers are made from Income and Expenditure A¢couni from time to time and ihis fiind is invested in CDIF Charities DeDosit Fund wheTe ihc iT]reTest is reiniTesred. The fi]nd is reknined by the Trustees io ¢1 mainl¢nance occurring at rewlar irtteTh'al for exainple external redecoTation: and the ctssl ol professiLIT)&l fees in iest*d of Qw"rJqucnnial Ji)5peclioDS. Periodically ai the Ttustees Meetings_ Ilie Trusre¢s ¥onsider the questiOD of aInowblS 10 trdltsfer to Ihe ERF and CMF on a regular basis. However. Ihe Trustees felt thRt ill vi¢w' of the re¢¢nt refiubishiTnI LXPLndilUTe undertakuu there seemed littlc tcason in rnakitig tr2]Jsfers kn the dunng the )'taT. Pagt I
Sptnee's Hospital ChariTh' Report of the Trustees ror ihe l'ear Ended 30 June 21124 Investments Thc Triistec% revieThtd valuatsons of the Charitys inN'estmcnts at thc Ordinary Meetines. The valJaiion% have showi ar. oNei'all increa%e in the total va]ue of the inyesttnents compared to Ibe Prn0u$ year. This had been anticipated following tlie general market cf)ndiliorLq foi Ihe year and the tx)Sition Lonsidered a¢¥cptabl¢ under th¢ bir¢umstanc¢s. It had been tsgreed that no ¢hanges in Ihe InVestn¥S needed to be made. The Tr5L4CCS conSidcr thatthe overall perf0mnce ot thc inwe5tments w'a5 5alisfactory. AlnLShuu5e InsurnLe PoIity Th¢ thnbUfaryLL Witll Ro!¢tl & Sutk AUian¢e was renewed for twelve n1)th9 cotntnencing 30th JuJJ£ 2023. The buildig$ iiicludine the C]Jarity's LntLtts ithsured for £l.63i.668 and the lknidaTrls contents are itLsured 14Jr a lotal of £99,020 18 uniis in equal proportlOD5). Tbc Pl1C Liabilir). IndcTlliiy LI11 is 15 miiiivn and th¢ L&'gal RcbponsibilitiLs ILI Ep10)et5 IS £10 11110. Th¢ Rtinstatement C05t of the protrty a55esseil b) IN'BIIT Cl]ancrtd Sun"tvui% Ltd al 25tli 3uly ?022 as £1,350,000: so the trustees consider the Cuent ItTrel of coveT adquatc. Charitv Trnstte As$urance iiliin ihe Almshouse iosurÉin¢e tK)licy there is indemnity Insuran wver providiiig for twbtees. liabiliisi of £250.00D. The level w?s considered wropriate for ihe size and nature of ibe charity. Allotments There are sevenreen allotment holders are charged the aKnual non-ren{bl¢ charge of £15 for a sma]l allotmeiit and £20 for a largc dllotmbnt. Propert), Tr'aluatio The value of the propeny as5e5sed on an'exi51ing use, basi5 by Me5srs. WBW Chartered Sllrveyors Ltd 2t 25th JILIY 2022 1 a traliie of £550:0(Y). This valuaEl0 disr¢g3r& any possible alternatsve uses aiid an). otkncr characteristics of the asset that w'ould cause ils Market Value to differ froTn thai nteded (o replace the rernaining servicc potenrial at le&8t COSL The tswstees rewd that this 1"alall0% M'hieh underrakett oll 25ib Jill) 2021 should be the r¢i'alualiorJ amount to be ¢arried fts..rd ai 31hh June 2024 and any th"fferenies ID the aJx)uT&s' be1i¥eeii-the dales wouLd not bc ater1. STRUCTURE. GOVERNANCE AND MAYL AGEMEIT (Abverning do¢ument ThL charity is controllcd by ils golierning docwnenL a deed of tnLSt and Con7e$ 811 unlncotp0t¢d charity. SpeTLC¢'S Ho%pital ChaTity at Carlrton in Crnirn coJDpri5ed ID a Scheule of the Higb Court of Justic¢ {C.hancery DiYiii(Trnl of 7 .4ugust 1877 and S¢humcs of th¢ Charity CvTnrniSSiVD¢Yb of 17 July 1888: 19 February 1901. 14 August 1931: 17 DeLember 1968 and 25 OctobEf 197). The Sch¢me dated 2) (kto1[ 1973 replaced the provisiolls of th e8Tlier Sch¢mes and Iherefore Ihe IY73 S¢hun¢ is the charitv's Governing Docutnent. Orgattlsat5onl $trn¢turÈ The TNslees JIMII ¢onsiSt wherL ¢omple* of seven conipeient persoll5 beine one Nominative Trust¢e and six C04)plative Trustees. The Nollllt)atii'e Trustee shall be 3PFrf)irtd by the Patish CounLil of. Carleton and each appointment shall be made tOT a ttrrn of fourTrEars ai a ttting convened and hcld dccordiAg io the ordinary praLtsce of the Council. The rErson appointrd may Ix. but neul not be. a member of Iht Council. The Co-opiatii'e TnJ8tees shall bL peFSQllS undei. tlie a¥e of seventy-five year%. who througb residence, o¢¢opation or tmploynKnt or othcnwise ljdve special krtnwlLdg¢ of the PHn5h of CarletOT). 4Dy Ctroptsiivc Trustee who 5 3llained the 3Be of seventy years m&v continue in otTtce otsly with th¢ ¢oMent of h15 or her ciHrustres. Every fure Co-OPtati¥e Tn)st¢e sliall be apptsintLd for 8 terni of fJTre ye&rs by a resoluiion orth¢ Trustbys passrd at a Special Meetingj of wbich nor IS thall tThellty-one days, notice has been b4ven. The Ti'usleeb nonnally meet at least halfyearfv for Ordillarv M¢eungs. and mutiDe and maInteanCe tnatteis have been deali with re]nL)RY by the con]mirtee. An Annual GenLfdl ML¢15r]¥ held on l 8th September 2023_. Th.. Cliaritv is th¢ ommer of eigbt alllL%hO5Cj atHI one other flat Ivupied by thc IiTaiden and they arL Situat¢d at Spence's c.ourt. Carleton Skiptvn North YorishiEe. When thete 15 8 I'acanLy, the Trnsiees try to find a resTdent in ibe P4tsrish of CarleÉoD suirdble Jur apTrIntMent as aD all-pe)lL Wbere Llaims art otherwise qal. preference shall bc gii'en io Ihe more ag¢d appli¢ant. on the occasion ot a vaLanLy there is nu %uitable applicanl qualitie4 the Trustcc Tnay appoint a person otE£rwise qualifi who is rt8idenl in any of the neighbouriThg parishes.
Spence's Hospital Charity Report oftbe T¢¢5 for the Year Eded 311 June 2024 STRUCTUR£. GovERNAcE AND MANAGEMEIYT TrustL*S Rev K Shocsmith appiintrd a trslee on 18th SeptemlKr 2ff23. Mr R Humphrey also resigjitd on that date. Related parties The Chariry ha5 no lated parties. RF.FV.RENCE Ar4D.4DMI75ITlN.E DETAILS Registered Charity number ??6893 Principal Address at C,ailetoIi in CravcD c/0 Mr R Maihin. No.1 ThvTllton House Thorntoll in Cravetx North Yorkshire BD23 3TB Trustees Mr N P C.layton-St¢3d {Ch8irperwn) Mr R Huniphrey (resigned 18.9.231 Mr P Holrnes r J CiilleD qr J Chiir¢heF Ms F Steel Mrs S w1125 Rev K Semith (appOind 18.9.23} Iodependtnt EKaminÈr Helen Louise BJriitt FMAAT Snrk Labert & Co Chart¢ri(l Accountdnts RL15scII C.h£omb¢ts 61d North Streci Kei¥hley West Yorkshire BD21 JDS Approved by order of the knard of tswstees 20 March 2025 and signed on behalf by." rN P Clayron-sitrad (cha1[5!- TrSlee .°agc 3
Independent Eiamlner's Report to the Trustecs of SpeTrce'5 H05Pital Chari Independent eiaminer's repori tlb the trustee5 Of Spee's Ho8piial Charitv report to ilLe Charity In241ees on eA8n)ination of the aOUnt5 of SnCe's Hospital Charity Trustl for the year ended 3n Junc 20)4. Responsibi]ities and bssis of report As the ¢hariry mistces Ot thc TTUSt vou are re5ponsrble for the preparation of the accounts in a¢ctsrdan¢e th the rcquirciDcnts of the Charities Act 2011 I'the Arfl. I report in respcct of m). examiJ)aLion olthe Tnjsvs accollnL8 carried ou¢ unde¥ Section 145 ot th¢ Act and in ¢arrving o )y exmoais(Trn I have followed all applicable Directtons by tbi Chatity Conimtssion uttder Seciion 145{5llb) ot the Aci. Independent eyamineT'S $t8temeDt I IIivL iompltted my tx&niJkqtion. I contirm that TRO ter1¥1 n]aiters have come to my attention coJ]nc¢tion with thc exaltion ¥ivit]g rne cause 10 belieNe thar in any Anaterial rtsi)ecl.' accouniillg recordg wcrc not kPt in re5peLt vf ihe TnJ>i as ryuired by Stioll lio of tbc Acr or the a¢¢tsunis do noi accord with those records: or the accounts do iiot Comply the appli¢able r4llirements co)eiDE the forn) alld eolltrnt of accounts sei oui in the Chaitlies (Accounts and Rewrtsl Regulation% 2(h)8 othei than any requirement tbat the accounts give a ttue and fair view wlll.ch is TLOI a mauertonsidertsl as pan of an independent txalnination. I have no conc¢Tns and have cotnc acro&s no oiher matieri in connection with the exami%Jation to whieh attentioTh should bc in this report in order w enable a proper llndersthnding of thc accounts So be reached. HEleD Lou15e BatTitt FMAAT Stii'k LaEnbcrt & Co Chancrcd Accountant Russell C.hambe 61 a North Stre Kei(plil¢y 4'esi Vorkshire BD21 JDS 20 Mirch 2025 Page 4
Spence's Hospital Cbarity Statennt of finantial A£tiTr'itits ftsr the I'er Eed JO June 2024 30.6.*4 Total tijnds 30.6.23 Total funds Unreskncie fwids Restricted fimd Nots INCOME AND ENDOWMENTS FROM Other trading activities InYc5tsnent in¢ome 34,j?3 63.030 34.123 63.0_3 30.268 12,991 Total 97.353 97.353 43.259 EXPENDITURE ON Other 39.659 39,659 42,444 -NET INCO,VE 57.694 57,694 815 RF.CONCILIATION OF FUiYDS I'oul lunds brought fornard 518,253 i50,0(K) I.(8.253 1.067.438 TOTAL FLTr4DS CAIUITED FORW.4RD 575.947 550.000 1.1?5,947 1.068.253 The notes forjn part of Ihese financial bfateJnellts
Spence's Hospital Charlti" Balan¢¢ Sheei -10 June ?024 30.614 Total tund$ 30.6.23 Totsl fuad5 UHresrricte41 Ke5tricted fimd Notc FIXED ASSETS Investments IneStMentS Investment pmperty 01294 iOI,294 550.IXIO 442.424 550.000 550.000 i01294 550.000 1,051.294 992,424 C.UIIRENT ASSETS Debtors Cash &t baDk 1.311) 81.81H 1,383 81,804 600 76,829 83.187 83.187 77,429 CRf.DITORS AmouiiLs falling due within one year (8.534} 18.534) (1,6(M)I ET CURRENT ASSEIS 74.65.1 74,653 75.829 TOTAL ASSETS LESS CURRENT LI.ABSLITIES 575.947 i50.¢XK) 1.125.947 1.068,253 TriF.T ASSETS 575.947 550.fXIO 1.125,947 ,068,253 FUNDS ueSir1LIed lunds Restricta fvllds 575,947 550.000 518.253 550,(M)O TOT.4L FUThD&i 1.125,947 1,068,?5 J The fjnancidl ytdt¢tnenls iwete approved b> the Board of TTwiees and aUtho8£d for issue on 20 March 2025 and were signed un It8 behalf bTr': lavton-stead (Chairperson) - Tnjstee The JM)*s fonn part of tbe5e financial stat¢ellts Page 6
Sptnte's Hospilal Chari Notes to the Finnclal Siatem¢llts for the Yar Ended 311 Je 2024 ACCOUNTING POLICIFS Basis nf preparing the financial 5tatetnenls The fmanciaj statemeTLts of rhe charity, w'hich is a public henefit cntity unde.- FRS 102. httvL been prepared t accordance with the Chatiriei SORP IFRS 102) 'Accounti8 and Rcpotting by ChaEities". Stat¢nKr.t of Rccvmrnended Prac¢i¢e applicable to chartlies prqMTing their accollnt5 in accordance the FinaDcial RLponing Stsndth applicable in the UK and Eiepublic of Ireland IFRS 1021 (effective l January ?019)' Financial Reporting Staodard 102 The Financial Reptsrtig Ststthrd applicable irt thc UK and Republic of Ireland, alld the Charities 2011. The financial siaiements hdve beLn preparcd undei the hisiorital ¢OSL collvelltion, with thL' exceptioo ofin¥estmellls which arc ilded market i2lll¢, as tnodified by the revaluation of ¢ertain assL't5. ncome All income ts retogniscd tn thc Statrmcni of FitkwKial ActitrTrties ollce the charity has eniitlement to the funds, it 15 probable that the itttotDe will be Trceived al ihe anK)unt can bt easured reliably. Expenditure Liabilities are [ecoL.ised as expendiiure a5 500n ds the is d legal or Co5trUctive obligation committin¢ the charity to that exnltUre, it ig probable ihar 3 transfer of economic bellefits w]11 be required in settlement the arnount of the obligation can be Mea$ed relgabl).. ETpeiidilure is a¢¢ounted for otj an accruals basis has been Lla5sifJed und¢r headings thai aggreeak all cosi relaied to the ca*gory. Where costs fjaDnot be direcrly attributed to particular headings they have bttrt allted to actrvitic5 on a blS consisrent Trith th¢ use of Fe50urces. InvestThent prtspertv Invcsiment pri)peny Is shown at llK)si re¢ent valuation_ Any aggre¥ate 1p]uS or defJ¢it arising from changes in fair value is Treogllised in the Siaic]nent of Finallcial Activiries_ Taxatio The charity 15 exempt from raK on its eharitable activities. OTHER TRADLNG ACTtVlTIES 30.6.24 30.6.23 ,Maintenan¢e colltriblltiuDi iO,268 INvESTmET INCO.ME 30.6.24 Dii'idends receTved- C()lF thvidends Re¢eived - BlackRock Depo8lt a¢¢ouJ)t interest Revaluaiion- ERF Rewaluation- actmlatiO Revalllaiiim- incoTr 22.336 92 3,66_1 19,577 1.84U (10:376} 1.762 96 3,292 -214 63.030 12.991
Spcnce'5 Hospital Charih" ote5 to the Fin3ficial Statemeut5- COllt5nued ftsr ibe I'esr Ended 30 June 2024 TRUSTEES. REMUYESL4TION AND BbfyEFITS There were no trustecs, Iemullertlion or nthL'r bcnefits for the yE4r eELdcd 30 J 2024 nor for the vcar Ended 30 Junc 2n13. 1'ry5tees' expenses Ther¢ wer¢ no ttustees. expeDses paid foi Ihe year ended 30 June 2024 Aor lor Ihe year ended 30 Jwie 2023. FIXED ASSET INvESTmEs ListLd invtgttntb MARKET VALUE At l Jul}. 2023 Addiiio Revdluatiuns 442,424 21.931 36,939 Ai 3(} June 2024 5nl,294 NET BOOK VALLE At 311 June ?024 501,294 At 30 June 2023 442,424 Ther¢ We no investment aw1$ outside the U Cost or vaiualion ai 30 Julle 2024 is represented by". Li5led inveslmMts Valuattop in 2024 Cost 464,355 501294 INI'ESTMENI. PROPERTY The itlvestmcnt propLrty known as Carlcron AlmslM)uw was i'alued on 25 July 2022 by WBW Surveytsrs Ltd of Skipton at £550,000. F.air Yalue ai 30 June 2024 is repre51j by-. Valuation it] 2022 55Q,(JQO Page 8 continued...
spee's Hwltal Charil!, .Yotes to the Financial StatemeDts- tokntinued for the Year Ended 311 June 2024 DEBTORS: AMOUL¥TS FALLING DUE WITHIN OT4E YEAR 30.6.24 3U.6.2_3 Ottkr debtors -383 600 CRV.DITORS: AMouTrrrs FALLING DUF. WITHIN ONT. YF.AR 30_6.24 Trade ¢tL"ditors 8.534 1,600 MOVEP¥lENT I.Y FUWDS Net m)venftt in fulld5 Al 30_6.24 At 1.7.23 uMtrIcted funds Exiraordinari, repair Income A¢cumulaiion C)¢lical m8intcnance 54.364 13.625) 451.281 17.24(1 32.666 74,760 ?0,865 29 J74 71.097 3.663 518253 57,694 575.947 Restricted fttnds Land and Buildings 550,0(M) 55Q,00 TOTAL FLTh. DS 1.068.253 57,694 1.125,947 et emen1 in funds, inLlllded tn rbe &bove atc a5 follows: Incomi resvurLe5 Resources cxpended MoweTn¢nt in fid Ullrestrieted funds Extraordinary iEpair Incoine Ac¢umulatinn Cyclital nltenanCe 54,303 36.035 3,292 3,663 54,3fi4 {.).6?51 3.292 3.66-, (39.660) 97.353 139,6591 57.694 TOTAL FUNDS 97.35) 139.659) 57.694 Luniinued...
Spellre's Hospiial Chariti- Notes to the Financial Statements- ¢OlltiHufd for tbe Year Ended 30 June 2024 .MOVEL¥IELIT IN FUNDS- eontinved Comparatives for fflD*eent in fund5 Net molestt in funds Ai Ai 1.7.22 Unrestritted flltkds E.xItJorddry rcpair 388,123 32.441 27.612 69.262 8.795 (11,-582) 1,762 1,840 396,918 20,859 29,374 71.102 AciuEnulaiLon CyLlical rnaintenanle 517.438 815 518.253 Restrieted [ndS Land and Bwldin&s 55U,000 550,000 TOI'AL FUNDS 1,067,438 815 1.068,253 Comparative net moverpenl I fv¥KEs, jJ[ded iD thc dboNe are as follows: Itscoming resources RewtsTtcs experKled Movement i funds Unrestrirted fua5 Exli"aordin3ry repair IncomL ALcumulation Cyclical intenanCe 8,794 8,795 {11,582) 1,762 1,840 142,4451 1,762 1,840 43,259 (42,444) 815 TOTAL FUNDS 43,259 (42.444) 815 io. RELATED PARTh DISCLOSURE.S There were no TEiated party trdnsactIo for the yedr ended 30 June 2024. Page 10
Spen¢e's Hospitsl Cktarity
Detailed SIatellt of FiDalkti41 Attlvltie5
ftsr the Year Endtd 311 Julle 21124
30.6.24
IJYCOME AND ENDOWMEpirs
Other tradiDg activities
MainteHancc ¢ontributions
34,323
30.268
Ini'estmeDt in¢vme
DiN'idends ieceived- COIF
DiNidends Rell,l - Bla¢kR(*k
Lk'po.sil account inieres1
Rev&lu