**REGISTERED COMPANY NUMBER: 00761889 REGISTERED CHARITY NUMBER: 229485** 

## **Report of the Trustees and** 

**Financial Statements** 

**for the Year Ended 30 September 2021** 

**for** 

## **HODGKIN HOUSE LIMITED** 



**HODGKIN HOUSE LIMITED** 

**Contents of the Financial Statements FOR THE YEAR ENDED 30 SEPTEMBER 2021** 

||**Page**|
|---|---|
|**Report of the Trustees**|1 to 5|
|**Statement of Trustees' Responsibilities**|6|
|**Report of the Independent Auditors**|7 to 10|
|**Statement of Financial Activities**|11|
|**Balance Sheet**|12|
|**Notes to the Financial Statements**|13 to 22|
|**Detailed Statement of Financial Activities**|23 to 24|





**HODGKIN HOUSE LIMITED** 

**Report of the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2021** 

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 2021. 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 2021** 

## **FINANCIAL REVIEW** 

## **Financial position** 

A summary of the results of the year's trading is given on page 11 of the financial statements. The annualised occupancy rate for the 12 months was 85% (2019 - 90%). 

The financial statements show a small deficit of £3,945 (2020 - deficit of £45,350). 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 £12,248 (2020 - £22,656) was awarded during the year to enable students to continue and complete their studies in Bristol.  In the prior year,  the cleaners  were  furloughed  for  part  of  the  year.,  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 £269,393 (2020 - £227,932) and designated reserves of £119,158 (2020 - £164,564). 

## **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: 

-  Ensuring  the  organisation  profile  was updated  on  both  UoB  and UWE  accommodation websites 

- Upgrading the Hodgkin House website 

- Establishing a social media profile 

- Opening occupancy for overseas and UK post graduate students 

- Opting for the flexi furlough scheme operated by HMRC to claim for staff pay 

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 charitable company holds total reserves of £388,551; 

- Occupancy rates have continued to exceed our conservative estimates and budgets and: - Trustees continue to improve and invest in the property and its staff in line with our Aims and Objectives: 

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 

Page 2 



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 2021** 

## **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 date** 

Dr G B Gray Chairman Mr R W D Daniels Mr J D Allen Dr J M Gibbs Mrs M Harrison Mrs M Clements Dr V Holderied-Milis Dr S Hooper 

January 2022 January 2022 January 2024 January 2024 January 2024 January 2023 January 2024 January 2022 

## **Company Secretary** 

Dr V Holderied-Milis 

Page 3 



**HODGKIN HOUSE LIMITED** 

## **Report of the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2021** 

## **REFERENCE AND ADMINISTRATIVE DETAILS 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 2021** 

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 29 November 2021 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 2021** 

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: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state weather applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

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: 

- there is no relevant audit information of which the charitable company's auditors are unaware; and 

- the trustees have taken all steps that they ought to have taken to make themselves aware of any  relevant  audit  information  and  to  establish  that  the  auditors  are  aware  of  that information. 

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**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 2021 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: 

- give  a  true  and  fair  view  of  the  state  of  the  charitable  company's  affairs  as  at 30 September 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have  been  properly  prepared  in  accordance  with  United  Kingdom  Generally  Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **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** 

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

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 in the Trustees' Report. 

## **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 

Page 7 



be materially misstated. If we identify such material inconsistencies or apparent material misstatements,  we  are  required  to  determine  whether  this  gives  rise  to  a  material misstatement  in  the  financial  statements  themselves.  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: 

- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the  Report  of  the  Trustees  has  been  prepared  in  accordance  with  applicable  legal requirements. 

## **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: 

- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. 

## **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. 

Page 8 



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

## **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. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design  procedures  in  line  with  our  responsibilities,  outlined  above,  to  detect  material misstatements  in  respect  of  irregularities,  including  fraud.  The  extent  to  which  our procedures are capable of detecting irregularities, including fraud is detailed below: 

• We obtained an understanding of the legal and regulatory frameworks applicable to the charity  and the sector  in which it operates. We determined that the following laws and regulations were most significant: UK GAAP, The Charities Act 2011 and the Charities SORP. 

•  We  obtained  an  understanding  of  how  the  charity  is  complying  with  those  legal  and regulatory  frameworks  and  made  enquiries  to  the  management  of  known  or  suspected instances  of  fraud  and  non-compliance  with  laws  and  regulations.  We  corroborated  our enquiries through our review of board minutes, other relevant meeting minutes and review of correspondence with regulatory bodies. 

• We assessed the susceptibility of the charity's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the audit team included: 

- Identifying and assessing the controls management has in place to prevent and detect fraud; 

- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process; 

- Challenging assumptions and judgments made by management in its significant accounting estimates and judgments, 

- Identifying and testing journal entries, in particular journal entries posted with unusual account combinations; and 

- Assessing the extent of compliance with the relevant laws and regulations. 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or  regulation  is  removed  from  the  events  and  transactions  reflected  in  the  financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

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. 

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**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 10 



## **HODGKIN HOUSE LIMITED** 

## **Statement of Financial Activities (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 30 SEPTEMBER 2021** 

|**2021**<br>**Unrestricted**<br>Total<br>**funds**<br>Notes<br>**£**<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>**600**<br>**Charitable activities**<br>3<br>Provision of hostel facilities<br>**305,877**<br>Investment income<br>2<br>**1,623**<br>Other income<br>4<br>**1,582**<br>**Total**<br>**309,682**<br>**EXPENDITURE ON**<br>**Charitable activities**<br>5<br>Provision of hostel facilities<br>**318,934**<br>Net gains on investments<br>**5,307**<br>**NET INCOME/(EXPENDITURE)**<br>**(3,945)**|2020<br>funds<br>£<br>-<br>286,291<br>1,013<br>8,525<br>295,829<br>343,063<br>1,884<br>(45,350)|
|---|---|



## **RECONCILIATION OF FUNDS** 

**Total funds brought forward 392,496** 437,846 

**TOTAL FUNDS CARRIED FORWARD 388,551** 392,496 

The notes form part of these financial statements 

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**HODGKIN HOUSE LIMITED (REGISTERED NUMBER: 00761889)** 

## **Balance Sheet 30 SEPTEMBER 2021** 

|**2021**<br>**Unrestricted**<br>Total<br>**funds**<br>Notes<br>**£**<br>**FIXED ASSETS**<br>Investments<br>14<br>**59,001**<br>**CURRENT ASSETS**<br>Debtors<br>15<br>**5,969**<br>Prepayments and accrued income<br>**-**<br>Cash at bank and in hand<br>**348,564**<br>**354,533**|2020<br>funds<br>£<br>53,362<br>3,846<br>-<br>378,732<br> 382,578|
|---|---|



## **CREDITORS** 

Amounts falling due within one year 16 

**(24,983)** (43,444) 

## **NET CURRENT ASSETS 329,550** 

339,134 

## **TOTAL ASSETS LESS CURRENT LIABILITIES** 

## **388,551** 

392,496 

**NET ASSETS 388,551** 

392,496 

The notes form part of these financial statements 

Page 12 



**FUNDS** 18 Unrestricted funds **388,551** 392,496 

**TOTAL FUNDS 388,551** 392,496 

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 29 November 2021. 


............................................ Dr G B Gray - Trustee 

............................................. Mr R W D Daniels - Trustee 

The notes form part of these financial statements 

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**HODGKIN HOUSE LIMITED Notes to the Financial Statements FOR THE YEAR ENDED 30 SEPTEMBER 2021** 

## **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  £269,393, designated reserves that can be drawn down if necessary  of £119,158 and a cash balance of £348,564. 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 

continued... 

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raised.
Page 13
continued...

**HODGKIN HOUSE LIMITED Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021** 

## **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... 

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**HODGKIN HOUSE LIMITED Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021** 

## **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** 

|**2021**<br>**£**<br>Reinvested dividends<br>**332**<br>Deposit account interest<br>**1,291**<br>**1,623**<br>**3.**<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>**2021**<br>Activity<br>**£**<br>Rents<br>Provision of hostel facilities<br>**302,735**<br>Booking fee<br>Provision of hostel facilities<br>**3,142**<br>**305,877**<br>**4.**<br>**OTHER INCOME**<br>**2021**<br>**£**<br>Government grants Job Retention Scheme<br>**1,477**<br>Storage fee<br>**60**<br>Sundry receipts<br>**45**<br>**1,582**|2020<br>£<br>-<br>1,013<br>1,013<br>2020<br>£<br>286,291<br>-<br>286,291<br>2020<br>£<br>8,525<br>-<br>-<br>8,525|
|---|---|



continued... 

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**HODGKIN HOUSE LIMITED** 

**Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021** 

## **5. CHARITABLE ACTIVITIES COSTS** 

||Direct|Grant|Support||
|---|---|---|---|---|
||Costs (see|funding of|costs (see||
||note 6)|activities|note 7)|Totals|
||£|£|£|£|
|Provision of hostel facilities|**288,317**|**12,708**|**17,909**|**318,934**|



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

## **6. DIRECT COSTS OF CHARITABLE ACTIVITIES** 

|**2021**<br>**£**<br>Staf costs<br>**114,859**<br>Equipment rental<br>**400**<br>Rent<br>**3,060**<br>Water & sewage<br>**14,154**<br>Insurance<br>**10,489**<br>Light and heat<br>**21,446**<br>Printing, postage & stationery<br>**1,288**<br>Sundries<br>**-**<br>Household<br>**10,322**<br>Property repairs<br>**32,420**<br>Major refurbishing<br>**64,781**<br>Computer and IT expenses<br>**4,283**<br>Equipment repairs & renewals<br>**547**<br>Health,safety & environmental<br>**5,581**<br>Welfare<br>**1,650**<br>Telephone & broadband<br>**2,756**<br>Bad debts<br>**-**<br>Subscriptions<br>**281**<br>Training<br>**-**<br>**288,317**|2020<br>£<br>105,935<br>496<br>3,060<br>11,504<br>10,832<br>21,143<br>1,488<br>1,149<br>12,683<br>26,862<br>80,527<br>8,542<br>1,305<br>9,903<br>542<br>2,822<br>265<br>277<br>343<br>299,678|
|---|---|



continued... 

Page 16 



**HODGKIN HOUSE LIMITED** 

**Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021** 

## **7. SUPPORT COSTS** 

|**SUPPORT COSTS**||||
|---|---|---|---|
|||Governance||
||Management|||
|||costs|Totals|
||£|£|£|
|Provision of hostel facilities|**12,449**|**5,460**|**17,909**|



## **8. NET INCOME/(EXPENDITURE)** 

Net income/(expenditure) is stated after charging/(crediting): 

||**2021**|2020|
|---|---|---|
||**£**|£|
|Hire of plant and machinery|**400**|496|
|Other operating leases|**3,060**|3,060|
|**AUDITORS' REMUNERATION**|||
||**2021**|2020|
||**£**|£|
|Fees payable to the charity's auditors for the audit of the|||
|charity's fnancial statements|**4,734**|3,272|
|Other non-audit services|**726**|700|



## **9. AUDITORS' REMUNERATION** 

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

There were no trustees' remuneration or other benefits for the year ended 30 September 2021 nor for the year ended 30 September 2020. 

## **Trustees' expenses** 

There were no trustees expenses during the year (2020 - £192 paid to one trustee). The charity paid for a hamper and gift cards in place of the annual dinner for the trustees and staff amounting to £837 (2020 - £720). 

## **11. STAFF COSTS** 

|Wages and salaries<br>Social security costs<br>Other pension costs|**2021**<br>**£**<br>**110,604**<br>**2,536**<br>**1,719**<br>**114,859**|2020<br>£<br>99,616<br>3,294<br>3,025<br>105,935|
|---|---|---|



The average monthly number of employees during the year was as follows: 

|Full time<br>Part time|**2021**<br>**2**<br>**5**<br>**7**|2020<br>2<br>5|
|---|---|---|
|||7|



continued... 

Page 17 



Page 17
continued...

**HODGKIN HOUSE LIMITED** 

**Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021** 

## **11. STAFF COSTS - continued** 

No employees received emoluments in excess of £60,000. 

## **12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** 

||Unrestricted|
|---|---|
||funds|
||£|
|**INCOME AND ENDOWMENTS FROM**||
|**Charitable activities**||
|Provision of hostel facilities|286,291|
|Investment income|1,013|
|Other income|8,525|
|**Total**|295,829|
|**EXPENDITURE ON**||
|**Charitable activities**||
|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 

## **13. TANGIBLE FIXED ASSETS** 

||Improvements|||||
|---|---|---|---|---|---|
||Fixtures|||||
||to|Plant and|and|Computer||
||property|machinery|fttings|equipment|Totals|
||£|£|£|£|£|
|**COST**||||||
|At 1 October 2020||||||
|and|**81,786**|**18,216**|**10,870**|**17,693**|**128,565**|



continued... 

Page 18 



30 September 2021 

|**DEPRECIATION**<br>At 1 October 2020<br>and<br>30 September 2021<br>**81,786**<br><br>**NET BOOK VALUE**<br>At<br>30 September 2021<br>**-**<br>At<br>30 September 2020<br>-|**18,216**<br>**-**<br>-|**10,870**<br>**-**<br>-|**17,693**<br>**128,565**<br>**-**<br>**-**<br>-<br>-|
|---|---|---|---|



continued... 

Page 18 



**HODGKIN HOUSE LIMITED** 

## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021** 

## **14. FIXED ASSET INVESTMENTS** 

|**FIXED ASSET INVESTMENTS**||
|---|---|
||Listed|
||investments|
||£|
|**MARKET VALUE**||
|At 1 October 2020|**53,362**|
|Additions|**332**|
|Revaluations|**5,307**|
|At 30 September 2021|**59,001**|
|**NET BOOK VALUE**||
|At 30 September 2021|**59,001**|
|At 30 September 2020|53,362|



There were no investment assets outside the UK. 

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

CCLA Investment fund  £25,826 (cost £6,609) 

CCLA Fixed Interest Securities Fund  £13,534 (cost £10,000) CCLA Property Fund  £19,641(cost £11,368) The funds are priced on a weekly basis. 

## **15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

||**2021**|2020|
|---|---|---|
||**£**|£|
|Accommodation fees|**5,652**|3,716|
|Other debtors|**317**|130|
||**5,969**|3,846|



continued... 

Page 19 



**HODGKIN HOUSE LIMITED** 

## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021** 

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

|**2021**<br>**£**<br>Trade creditors<br>**1,111**<br>Pension contributions payable<br>**325**<br>Other creditors<br>**-**<br>Residents' deposits<br>**13,200**<br>Accruals and deferred income<br>**10,347**<br>**24,983**|2020<br>£<br>16,881<br>263<br>1,200<br>13,600<br>11,500<br>43,444|
|---|---|



## **17. LEASING AGREEMENTS** 

Currently, the charity is paying rent of £3,060 per annum. However, the agreement is currently under review with the Bristol Diocese who are the custodian trustees for the building. 

## **18. MOVEMENT IN FUNDS** 

||Net||
|---|---|---|
|At|movement|At|
|1.10.20|in funds|30.9.21|
|£|£|£|



## **Unrestricted funds** 

General Fund **227,932 41,461 269,393** 

Painton-Smith Memorial Fund **15,803** 

**-** 

## **15,803** 

Roof Fund **103,137 218 103,355** 

Boiler Refurbishment Fund **45,624 (45,624)** 

**-** 

**(3,945) 388,551** 

**392,496** 

continued... 

Page 20 



**TOTAL FUNDS 392,496 (3,945) 388,551** 

Net movement in funds, included in the above are as follows: 

||Incoming|Resources|Gains and|Movement|Movement|
|---|---|---|---|---|---|
||resources|expended|losses|in funds||
||£|£|£||£|
|**Unrestricted funds**||||||
|General Fund||||||
|**309,464**||||||
|**(273,310)**||||||
|**5,307**||||||
|**41,461**||||||
|Roof Fund||||||
|**218**||||||
|**-**||||||
|**-**||||||
|**218**||||||
|Boiler Refurbishment Fund||||||
|**-**||||||
|**(45,624)**||||||
|**-**||||||
|**(45,624)**||||||



**309,682 (318,934) 5,307 (3,945)** 

continued... 

Page 20 



**TOTAL FUNDS 309,682 (318,934) 5,307 (3,945)** 

continued... 

Page 20 



**HODGKIN HOUSE LIMITED** 

**Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021** 

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

## **Comparatives for movement in funds** 

|||Net|Transfers||
|---|---|---|---|---|
||At|movement|between|At|
||1.10.19|in funds|funds|30.9.20|
||£|£|£|£|
|**Unrestricted funds**|||||



General Fund 278,230 (45,350) (4,948) 227,932 

Painton-Smith Memorial Fund 15,803 - - 15,803 Roof Fund 108,813 - (5,676) 103,137 Fire Door Repair Fund 35,000 - (35,000) - Boiler Refurbishment Fund - - 45,624 45,624 

- 437,846 (45,350) 392,496 

continued... 

Page 21 



**TOTAL FUNDS** 437,846 (45,350) - 392,496 

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

Incoming Resources Gains and Movement resources expended losses in funds £ £ £ £ **Unrestricted funds** 

General Fund 295,829 (343,063) 1,884 (45,350) 

## **TOTAL FUNDS** 

295,829 (343,063) 1,884 (45,350) 

continued... 

Page 21 



## **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. 

## **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. Last year £35,000 was transferred to the general fund. 

## **Boiler Refurbishment Fund** 

This designated fund reflects amounts set aside to complete the large works to refurbish the boilers. The works relating to the boilers was completed during the year. 

continued... 

Page 21 



**HODGKIN HOUSE LIMITED** 

**Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021** 

## **19. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 30 September 2021 nor for the year ended 30 September 2020. 

Page 22 



**HODGKIN HOUSE LIMITED** 

## **Detailed Statement of Financial Activities FOR THE YEAR ENDED 30 SEPTEMBER 2021** 

|2021<br>£<br>**INCOME AND ENDOWMENTS**<br>**Donations and legacies**<br>Donations<br>**600**<br>**Investment income**<br>Reinvested dividends<br>**332**<br>Deposit account interest<br>**1,291**<br>**1,623**<br>**Charitable activities**<br>Rents<br>**302,735**<br>Booking fee<br>**3,142**<br>**305,877** <br>**Other income**<br>Government grants Job Retention Scheme<br>**1,477**<br>8,525<br>Storage fee<br>**60**<br>-<br>Sundry receipts<br>**45**<br>-<br>**1,582**<br>**Total incoming resources**<br>**309,682**<br>295,829<br>**EXPENDITURE**<br>**Charitable activities**<br>Salaries<br>**110,604**<br>Social security<br>**2,536**<br>Pensions<br>**1,719**<br>This page does not form part of the statutory fnancial statements|2020<br>£<br>-<br>-<br>1,013<br>1,013<br>286,291<br>-<br> 286,291<br>8,525<br>99,616<br>3,294<br>3,025|
|---|---|



Page 23 



|Equipment rental|**400**|496|
|---|---|---|
|Rent|**3,060**|3,060|
|Water & sewage|**14,154**|11,504|
|Insurance|**10,489**|10,832|
|Light and heat|**21,446**|21,143|
|Printing, postage & stationery|**1,288**|1,488|
|Sundries|**-**|1,149|
|Household|**10,322**|12,683|
|Property repairs|**32,420**|26,862|
|Major refurbishing|**64,781**|80,527|
|Computer and IT expenses|**4,283**|8,542|
|Carried forward|**277,502**|284,221|



This page does not form part of the statutory financial statements 

Page 23 



**HODGKIN HOUSE LIMITED** 

## **Detailed Statement of Financial Activities FOR THE YEAR ENDED 30 SEPTEMBER 2021** 

|2021<br>£<br>**Charitable activities**<br>Brought forward<br>**277,502**<br>Equipment repairs & renewals<br>**547**<br>Health,safety & environmental<br>**5,581**<br>Welfare<br>**1,650**<br>Telephone & broadband<br>**2,756**<br>Bad debts<br>**-**<br>Subscriptions<br>**281**<br>Training<br>**-**<br>Grants to individuals<br>**12,708**<br>**301,025** <br>**Support costs**<br>**Management**<br>Professional fees<br>**11,192**<br>Bank & credit card processing<br>**1,257**<br>**12,449**|2020<br>£<br>284,221<br>1,305<br>9,903<br>542<br>2,822<br>265<br>277<br>343<br>25,602<br> 325,280<br>12,582<br>1,229<br>13,811|
|---|---|



## **Governance costs** 

Auditors' remuneration 

**4,734** 3,272 

Auditors' remuneration for non audit work **726** 700 

**5,460** 3,972 

Total resources expended 

**318,934** 343,063 

This page does not form part of the statutory financial statements 

Page 24 



**Net expenditure (9,252)** (47,234) 

This page does not form part of the statutory financial statements 

Page 24