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2020-09-30-accounts

REGISTERED COMPANY NUMBER: 00761889 REGISTERED CHARITY NUMBER: 229485

Report of the Trustees and

Financial Statements

for the Year Ended 30 September 2020

for

HODGKIN HOUSE LIMITED

HODGKIN HOUSE LIMITED

Contents of the Financial Statements FOR THE YEAR ENDED 30 SEPTEMBER 2020

Page
Report of the Trustees 1 to 5
Statement of Trustees' Responsibilities 6
Report of the Independent Auditors 7 to 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12 to 20
Detailed Statement of Financial Activities 21 to 22

HODGKIN HOUSE LIMITED

Report of the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

To provide comfortable and welcoming accommodation for students attending a university or college in Bristol. This will be at a reasonable cost to residents. In addition, it is the Charity's policy to maintain Hodgkin House in an excellent state of repair in accordance with the full repairing lease from the Bristol Diocese. The trustees also endeavour to provide a measure of pastoral care and to enhance the facilities and overall ambience of this house of multiple occupancy whenever sufficient reserve funds are available.

Significant activities

Of all the objects listed in the Memorandum and Articles of Association, the current activity of the Company, in the year under review, continued to be the provision of accommodation for Post Graduate Students within Hodgkin House, Nos 3-7 Meridian Place, Clifton, Bristol BS8 1JG which is also the registered office.

Public benefit

The Trustees consider that the Charities Commission's guidance on public benefit is met. Hodgkin House provides this by:

(a) aiming to make Hodgkin House as much a home as possible for students;

(b) fostering a sense of community through social events, activities at Christmas and outings;

(c) operating a discretionary fund to relieve financial hardship which arises for reasons outside the control of students;

(d) keeping fees as low as possible consistent with enabling the charity to fulfil its leasehold and other contractual obligations.

(e) providing accommodation at no charge for a postgraduate student who is the recipient of the Hodgkin House Bursary and who would otherwise not be able to afford to study in the UK.

Page 1

HODGKIN HOUSE LIMITED

Report of the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2020

FINANCIAL REVIEW

Financial position

A summary of the results of the year's trading is given on page 8 of the financial statements. The annualised occupancy rate for the 12 months was 85% (2019 - 90%).

The deficit of £45,350 (2019 - surplus of £50,388) has been taken from the reserves. Major refurbishments of £20,000 to refurbish three bathrooms, £30,000 to enhance fire-doors as per EHO recommendation and £20,000 for hot water boilers.

The Trustees consider the financial state of affairs to be acceptable in view of the COVID-19 pandemic. The charitable company has the ability to meet its obligations from its reserves.

Bursaries awarded

Bursary accommodation amounting to £22,656 (2019 - £13,223) was awarded during the year to enable students to continue and complete their studies in Bristol. During the time the cleaners were furloughed, some Senior Residents received free accommodation for April and May in recompense for the additional duties they performed. This is included in the above figure.

Reserve Funds

It is the charitable company's policy to maintain an unrestricted reserve as a contingency fund for periodic and possibly expensive repairs to the five Victorian terrace houses rented on a full repairing lease by the charitable company. The fund is also to enable the charitable company to undertake large scale refurbishment and enhancement of the facilities at Hodgkin House. This Reserve is not expected to exceed circa £300,000 (about one year's income). The level of the Reserve is monitored, and the policy for it is reviewed by the Trustees at the end of each financial year. At the year end there were general reserves of £227,932 (2019 - 278,230) and a designated reserves of £164,564 (2019 - £159,616).

COVID-19

The trustees have considered the impact that the COVID-19 pandemic will have on the charitable company's current and future financial position. The charitable company has taken the following steps to mitigate the threats that COVID-19 may pose to the organisation by:

The trustees consider that the charitable company will continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved for the following reasons:

The trustees, therefore, consider it appropriate to adopt the going concern basis of preparation of the accounts, as detailed in note 1 to the financial statements.

Painton-Smith Memorial Fund

In 1997 an unrestricted legacy was received in the sum of £34,475 at the bequest of the late Rosemary Painton-Smith. The Trustees set aside one third of the total received to act as a hardship/welfare fund, which is expended at the discretion of the Trustees. No funds were used during the year.

Page 2

HODGKIN HOUSE LIMITED

Report of the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2020

FUTURE PLANS

The Charity will continue with its primary objective of providing and maintaining accommodation for post graduate students attending universities and colleges in Bristol.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, the Memorandum and Articles of Association dated 23 May 1963 (updated 19 March 2018), which constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

Trustees are appointed, for three years at a time, to the governing body of the Charity, the Council, by the members of the Charity. The Council delegates the day-to-day activities of the Charity to the House Manager and the Treasurer.

Potential Trustees are identified by the members of the Council who submit recommendation to the Council. New Trustees meet with the Chairman when the operation of the Charity is explained, including the legal structure and the responsibilities and liabilities of the Trustees. Once elected, Trustees are provided with copies of relevant guidance documents from the Charity Commission and encouraged to study them.

Risk management

The major risks to which the Charity is exposed, as identified by the Trustees, have been reviewed and systems established to mitigate those risks.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

00761889 (Not specified/Other)

Registered Charity number

229485

Registered office

Hodgkin House 3-7 Meridan Place Clifton Bristol BS8 1JG

Trustees

Re-appointment
Dr G B Gray Chairman January 2022
Dr R G Roberts Vice Chairman (resigned
18.11.19)
Mr R W D Daniels January 2022
Mr J D Allen January 2021
Dr J M Gibbs January 2021
Mrs M Harrison January 2021
Mrs M Clements January 2023
Dr V Holderied-Milis January 2021
Dr S Hooper January 2022

Page 3

HODGKIN HOUSE LIMITED

Report of the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2020

REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary

Dr V Holderied-Milis

Auditors

Haines Watts Partnership (Bristol) Limited Bath House 6-8 Bath Street Bristol BS1 6HL

Bankers

HSBC Bank plc 149 Whiteladies Road Bristol BS8 2RR

CCLA Senator House 85 Queen Victoria Street London EC4V 4ET Nationwide Building Society PO Box 3 5-11 St Georges Street Douglas Isle of Man IM99 1AS

Shawbrook Bank Limited Lutea House Warley Hill Business Park The Drive Great Warley Brentwood Essex CM13 3BE

Triodos Bank UK Deanery Road Bristol BS1 5AS

AUDITORS

The auditors, Haines Watts Partnership (Bristol) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Page 4

HODGKIN HOUSE LIMITED

Report of the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2020

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 16 November 2020 and signed on its behalf by:

Dr G B Gray - Trustee

Page 5

HODGKIN HOUSE LIMITED

Statement of Trustees' Responsibilities FOR THE YEAR ENDED 30 SEPTEMBER 2020

The trustees (who are also the directors of Hodgkin House Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Page 6

Report of the Independent Auditors to the Members of Hodgkin House Limited

Opinion

We have audited the financial statements of Hodgkin House Limited (the 'charitable company') for the year ended 30 September 2020 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

However, not all future events or conditions can be predicted. The COVID-19 viral pandemic is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the company's trade, customers, suppliers and wider economy. The Trustees' view on the impact of COVID-19 is disclosed on page 2.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Page 7

Report of the Independent Auditors to the Members of Hodgkin House Limited

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 8

Report of the Independent Auditors to the Members of Hodgkin House Limited

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Geoffrey Speirs (Senior Statutory Auditor) for and on behalf of Haines Watts Partnership (Bristol) Limited Bath House 6-8 Bath Street Bristol BS1 6HL

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

Page 9

HODGKIN HOUSE LIMITED

Statement of Financial Activities (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 30 SEPTEMBER 2020

2020
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Charitable activities
3
Provision of hostel facilities
286,291
Investment income
2
1,013
Other income
4
8,525
Total
295,829
EXPENDITURE ON
Charitable activities
5
Provision of hostel facilities
343,063
Net gains on investments
1,884
NET INCOME/(EXPENDITURE)
(45,350)
RECONCILIATION OF FUNDS
Total funds brought forward
437,846
TOTAL FUNDS CARRIED FORWARD
392,496		 2019
Total
funds
£
304,435
1,480
-
305,915
259,260
3,733
50,388
387,458
437,846

The notes form part of these financial statements

Page 10

HODGKIN HOUSE LIMITED (REGISTERED NUMBER: 00761889)

Balance Sheet 30 SEPTEMBER 2020

2020
Unrestricted
funds
Notes
£
FIXED ASSETS
Investments
13
53,362
CURRENT ASSETS
Debtors
14
3,846
Cash at bank and in hand
378,732
382,578
CREDITORS
Amounts falling due within one year
15
(43,444)
NET CURRENT ASSETS
339,134
TOTAL ASSETS LESS CURRENT
LIABILITIES
392,496
NET ASSETS
392,496
FUNDS
16
Unrestricted funds
392,496
TOTAL FUNDS
392,496		 2019
Total
funds
£
51,477
13,379
419,321
432,700
(46,331)
386,369
437,846
437,846
437,846
437,846

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 16 November 2020 and were signed on its behalf by:

Dr G B Gray - Trustee

Mr R W D Daniels - Trustee

The notes form part of these financial statements

Page 11

HODGKIN HOUSE LIMITED

Notes to the Financial Statements FOR THE YEAR ENDED 30 SEPTEMBER 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

The charity is a private company, incorporated in England and Wales, limited by guarantee having no share capital and, in accordance with the Memorandum of Association, every member is liable to contribute £1 towards the costs of dissolution and liabilities incurred by the charity in the event of the company being wound up.

The accounts have been prepared on the assumption that the charitable company is able to continue as a going concern. However, the COVID-19 pandemic is likely to have a profound impact on the global economy, and may in turn affect the charitable company.

The trustees have considered the impact of this issue on the current and future financial position. The charitable company holds unrestricted, general reserves of £227,932, designated reserves that can be drawn down if necessary of £164,564 and a cash balance of £378,732. The trustees consider that the charitable company has sufficient cash reserves to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved.

The Trustees have tested their cash flow analysis to take into account the impact on the charitable company of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Critical accounting judgements and key sources of estimation uncertainty

The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:

Investment funds shown at fair value

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:

No requirement for a bad debt provision based on year end debtor balance and prior year history of recoverabililty.

Income

Rental income from the provision of accommodation for Postgraduate Students is recognised when the income is due and is accounted for on the accrual basis. Booking fee income is deferred as the booking fee is deducted from the first rental invoice raised.

continued...

Page 12

HODGKIN HOUSE LIMITED

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020

1. ACCOUNTING POLICIES - continued

Income

The charity receives government grants in respect of the job retention scheme. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.

Fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - 25% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 50% on cost

Fixed asset investments in quoted funds are valued at initially at cost and subsequently at fair value (their market value) at the year end.

Taxation

The charity is exempt from corporation 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.

Leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 13

HODGKIN HOUSE LIMITED Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020

1. ACCOUNTING POLICIES - continued

Debtors

Debtors are measured on initial recognition at settlement amount after any amounts advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

Cash and short term investments

Cash at bank is held to meet short-term cash commitments as they fall due rather than for investment purposes and includes all cash equivalents held in the form of short-term highly liquid investments. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Creditors

The charity has creditors which are measured at settlement amounts.

Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2. INVESTMENT INCOME

Deposit account interest
3.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Rents
Provision of hostel facilities
4.
OTHER INCOME
Government grants Job Retention Scheme		 2020
£
1,013
2020
£
286,291
2020
£
8,525		 2019
£
1,480
2019
£
304,435
2019
£
-

continued...

Page 14

HODGKIN HOUSE LIMITED

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020

5. CHARITABLE ACTIVITIES COSTS

Grant Support
Direct funding of costs (see
Costs activities note 6) Totals
£ £ £ £
Provision of hostel facilities 299,678 25,602 17,783 343,063

Bursaries and welfare payments have been treated as grant funding. The prior year figures have been reclassified accordingly.

6. SUPPORT COSTS

Governance
Management
costs
£
£
Provision of hostel facilities
13,811
3,972
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2020
£
Hire of plant and machinery
496
Other operating leases
3,060
AUDITORS' REMUNERATION
2020
£
Fees payable to the charity's auditors for the audit of the charity's financial
statements
3,272
Other non-audit services
700		 Totals
£
17,783
2019
£
594
3,060
2019
£
3,216
660

7. NET INCOME/(EXPENDITURE)

8. AUDITORS' REMUNERATION

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2020 nor for the year ended 30 September 2019.

Page 15

continued...

HODGKIN HOUSE LIMITED Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020

9. TRUSTEES' REMUNERATION AND BENEFITS - continued

Trustees' expenses

Trustees expenses of £192 was paid to one trustee in relation to training and administration costs (2019 - nil). The charity paid for an annual dinner for the trustees and staff amounting to £790 (2019 - £964) together with a leaving gift for one trustee of £142 (2019 - £120).

10. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Full time
Part time
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Charitable activities
Provision of hostel facilities
Investment income
Total
EXPENDITURE ON
Charitable activities
Provision of hostel facilities
Net gains on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward		 2020
2019
£
£
99,616
103,862
3,294
3,306
3,025
2,234
105,935
109,402
2020
2019
2
2
5
5
7
7
Unrestricted
funds
£
304,435
1,480
305,915
259,260
3,733
50,388
387,458

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Page 16

continued...

HODGKIN HOUSE LIMITED

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

TOTAL FUNDS CARRIED FORWARD
TANGIBLE FIXED ASSETS
Improvements
to
Plant and
property
machinery
£
£
COST
At 1 October 2019 and
30 September 2020
81,786
18,216
DEPRECIATION
At 1 October 2019 and
30 September 2020
81,786
18,216
NET BOOK VALUE
At 30 September 2020
-
-
At 30 September 2019
-
-		 Unrestricted
funds
£
437,846
Fixtures
and
Computer
fittings
equipment
Totals
£
£
£
10,870
17,693
128,565
10,870
17,693
128,565
-
-
-
-
-
-

12. TANGIBLE FIXED ASSETS

13. FIXED ASSET INVESTMENTS

Listed
investments
£
MARKET VALUE
At 1 October 2019 51,477
Revaluations 1,885
At 30 September 2020 53,362
NET BOOK VALUE
At 30 September 2020 53,362
At 30 September 2019 51,477

There were no investment assets outside the UK.

At the year end, the CCLA Funds held were as follows:

CCLA Investment fund £22,238
CCLA Fixed Interest Securities Fund £13,965
CCLA Property Fund £17,159

The funds are priced on a weekly basis.

continued...

Page 17

HODGKIN HOUSE LIMITED

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020

14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accommodation fees
Other debtors
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Pension contributions payable
Other creditors
Residents' deposits
Accruals and deferred income
16.
MOVEMENT IN FUNDS
Net
At
movement
1.10.19
in funds
£
£
Unrestricted funds
General Fund
278,230
(45,350)
Painton-Smith Memorial Fund
15,803
-
Roof Fund
108,813
-
Fire Door Repair Fund
35,000
-
Boiler Refurbishment Fund
-
-
437,846
(45,350)
TOTAL FUNDS
437,846
(45,350)
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General Fund
295,829
(343,063)
TOTAL FUNDS
295,829
(343,063)		 2020
2019
£
£
3,716
12,989
130
390
3,846
13,379
2020
2019
£
£
16,881
6,355
-
1,714
263
709
1,200
2,935
13,600
19,677
11,500
14,941
43,444
46,331
Transfers
between
At
funds
30.9.20
£
£
(4,948)
227,932
-
15,803
(5,676)
103,137
(35,000)
-
45,624
45,624
-
392,496
-
392,496
Gains and
Movement
losses
in funds
£
£
1,884
(45,350)
1,884
(45,350)

continued...

Page 18

HODGKIN HOUSE LIMITED

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General Fund
Painton-Smith Memorial Fund
Roof Fund
Fire Door Repair Fund
TOTAL FUNDS		 At
1.10.18
£
371,655
15,803
-
-
387,458
387,458		 Net
movement
in funds
£
50,388
-
-
-
50,388
50,388		 Transfers
between
funds
£
(143,813)
-
108,813
35,000
-
-		 At
30.9.19
£
278,230
15,803
108,813
35,000
437,846
437,846

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General Fund
TOTAL FUNDS		 Incoming
resources
£
305,915
305,915		 Resources
expended
£
(259,260)
(259,260)		 Gains and
Movement
losses
in funds
£
£
3,733
50,388
3,733
50,388

General Fund

The unrestricted general fund is utilised for the normal operations of the Charity in the provision of hostel accommodation and the upkeep of the hostel property.

Painton-Smith Memorial Fund

This designated fund was established in 1997 when a legacy was received in the sum of £34,475 at the bequest of the late Rosemary Painton-Smith. The Trustees set aside one third of the total received to act as a hardship/welfare fund, which is expended at the discretion of the Trustees. No funds were used during the year.

Roof Fund

This designated fund represents amounts set aside for the provision for future roofing repairs. Last year £108,813 was transferred from the General Fund.

Fire Door Repair Fund

This designated fund was created to set aside a fund for future provision for the installation and repair of the fire doors within the property. This had taken place during the financial year therefore, a transfer has been made to the general fund of £35,000.

Boiler Refurbishment Fund

This designated fund reflects amounts set aside to complete the large works to refurbish the boilers.

continued...

Page 19

HODGKIN HOUSE LIMITED

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020

17. OTHER FINANCIAL COMMITMENTS

At the year end, the Trustees have committed to expenditure of £6,354 to complete the refurbishment of the preparation area of the kitchen to comply with EHO requirements and £45,624 to complete the replacement and refurbishment of the boilers.

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 September 2020 nor for the year ended 30 September 2019.

Page 20

HODGKIN HOUSE LIMITED

Detailed Statement of Financial Activities FOR THE YEAR ENDED 30 SEPTEMBER 2020

INCOME AND ENDOWMENTS
Investment income
Deposit account interest
Charitable activities
Rents
Other income
Government grants Job Retention Scheme
Total incoming resources
EXPENDITURE
Charitable activities
Salaries
Social security
Pensions
Equipment rental
Rent
Water & sewage
Insurance
Light and heat
Printing, postage & stationery
Sundries
Household
Property repairs
Major refurbishing
Computer and IT expenses
Equipment repairs & renewals
Health,safety & environmental
Welfare
Telephone & broadband
Bad debts
Advertising
Subscriptions
Training
Grants to individuals
Support costs
Management
Professional fees
Carried forward		 2020
£
1,013
286,291
8,525
295,829
99,616
3,294
3,025
496
3,060
11,504
10,832
21,143
1,488
1,149
12,683
26,862
80,527
8,542
1,305
9,903
542
2,822
265
-
277
343
25,602
325,280
12,582
12,582		 2019
£
1,480
304,435
-
305,915
103,862
3,306
2,234
594
3,060
12,797
9,695
20,327
2,858
-
7,108
34,593
3,594
8,093
3,224
6,235
1,608
2,899
(220)
750
300
5,160
13,973
246,050
8,310
8,310

This page does not form part of the statutory financial statements

Page 21

HODGKIN HOUSE LIMITED

Detailed Statement of Financial Activities FOR THE YEAR ENDED 30 SEPTEMBER 2020

Management
Brought forward
Bank & credit card processing
Governance costs
Auditors' remuneration
Auditors' remuneration for non audit work
Total resources expended
Net (expenditure)/income		 2020
£
12,582
1,229
13,811
3,272
700
3,972
343,063
(47,234)		 2019
£
8,310
1,024
9,334
3,216
660
3,876
259,260
46,655

This page does not form part of the statutory financial statements

Page 22