REGISTERED CHARrrY NUMBEK. 229942 Report of th¢ Trustees and Financial Statements for th• Y•ar Erbded 31 Decemr 2024 Th• Hospital of Klng James in Gat¢shtad InsFire Compllan¢e Limited Chartered Accountants Registered Auditors 6 Queens Cour¢ Thlrd Avenue Team VleY Gateshead Tyne and Wear NEI I08U
Thè Hospital of King James in Gateshead Contents of the Financial Statsments for the Year Endtd 31 December 2024 Report of the Tru$¢ees Report of the Independen¢ Auditoys Statement of Financial Activities Balanct Sheet Note5 to the Financial Stat•m•rtS Detailed Statsmert of Flnanclal Artlviti¢5 21 to 22
The Hospitsl of kng James in Gateshead Report of th• Trustèes for the Ytar Ended 31 December 2024 The trustees presenr their repor¢ wtth the financial sfatemenrs of the chariy (or the year ended 31 Dece[er 2024. The tnjstees have aijopted the provisions of Accounting and Reporung by Chariue5.' Sotement of Retommended Prattice aPiCable tg charitie5 preparing their accounts in accordance with the Financial Reportyng Standard applicable in thÈ UK and Republic of Ireland (FRS 102) (effective l January 20191- OBJECTIVES AND ACTIVITIES Objectives and aim5 The charlry's maln oblertjve is the prowslon of accommodadon to disadvantaged people in the Gaoshead area. administers the runThin8 of 31 accommodation units and own5 a portfolio of residenti properries. The committee of the trustee5 meet reguLAt4y ¢0 consider 1 rro¢¢er5 regarding the running of the tharity. How we benefit the publlc As an amshouse. the charity exists to provide accommo&tJon for those who are elderty or dlsadvantaged In the GIhead are& Key to achiewng this 1$ prowding a $e and caring enronment for those who live at the hospltal. The full time warden. who lives on si. ensures the wellbeing of all resident5. Re8ular social event$ and aaiviues are held lor the enjoyment of the residents. ACHIEVEMENTS AND PERFORMANCE Charitable artivitie lTrcoming resources for the year totalled £320.199 {2023:£284,5711. whlch included Investment Incoff of £15 Im9 12023.'£133.7131 and Inte$t recefjved of £&232 (2023 £1,112). Income from the Hospitsl irseff amounred to £161,97812023-£149,416}. The charity recorded a surplus of £77.99912023:£75.799} for rhe year. This includes net recwised losses of £1,735 {2023¥dins £14,195) in re5pett of change5 in the ¥alue5 of propertie5 and investments. The tnJstees consider the charttls finaftci performance to be 5ttisfactory. Investments rnade by the thartty are held In aecordance with the (rustees. powers. FINANCIAL REVIEW Reserves policy The Chariry aim5 to hold liqvid reseffts equIVent to at least three months of expendiDJr& The resetves of the charity tota[1 a773.287 {2023..£2.695.2881 ar the en¢J of the year. of which £2,773.287 12023:£I45&0231 were unrestricted and none were restricted 12023..£237,2651 .In April 2024, the Charity Commission allowed the Recoupment Fund. set up to recover the Almshouse knildlng cost In 1974 and whith had long achieved its investm¢ targeL to be relsed for general purposes. £9,001 15 Invested for the Extraordinary Reir (vnd to be used for major rer5, improvement or rebull¢thn& 81296 in Investmen represen(ing the general fund. These fijnds a used to hold unrewtcted reseryes w be used in the Keneral running of the dxriry.
The Hoswtal of Klng Jam•s in Gat•shead Report of the Trnstees for the Year Ended 31 December 2024 FUTURE PLANS Many of the units In the almshouse have now refurbished. arsd while the building will be kept in good repair, r subsuntive improvements will be rnde while our development plan is under vlay. Negotlauons with a Rebstwed Provider to purchase the Recreatyon Ground conrinued throughout the year and were successfully concluded in 2025. We contlnue to yepare plans to refvrbish our curren¢ buildin8 by removing the asbestos and upwading the ene ratin& STRUCTURE, GOVERNANCE AND MANAGEMENT Governin8 document The chariiy w&$ formed in or around the year 1245 and is con5titvted by various governing documents over the pr5. Including a Royal Charter of 1611. Att of Padiament of 1811 and its current governing documenL a charity scheme of 1970. a resolution of 5 Ottober 2023 and a lettw from the Ch¥ky Commission dattd 12 Aprll 2024_ It is a Stered Charity, number 229942. Recruitm•nt and appointment of new trustee5 The sole trustee ol the ChJrrty is King james Almshou$e& a Charitable Incorporated Or8anisation. rey5tered tharity mber 1198062. KingJame5 Amshtatses holds no assets. Or8ani$ational structure The charity is run on a day to day basis by the Maxer of the charl¢y and the Warden. The Tru5*es of the parent Charity meet at least (our time5 3 year. and more regularly a$ necessary ro deal with Strdtegic matters and to authorise expendtture. Detisions can be made using dectronic communicatron. Estate Mana8emÈnt Estate management services to the Hospital of King James are provfjded by Sarah Maln$ PropLYry Consultanrs. wl undertake the day to day managwnent of the Ptlyd residential portfollo of behalf of the charity. This indudes but 15 not limited to dealiThg with all tsnant enquiries rent cojlectyon and propwty issues such as statutory testmg. REFERENCE AND ADMINISTrATIVE DETAILS Registered Charity number 229942 Principal addre Sunderland Road Gateshead Tyne and Wear NE8 3EY Trnrt8os The Trustee of the Charrty is Kingjaffles Almshouse
The Hojwtal of KSn8 jam In Gateshead Report of the Trustees lor the Year Ended 31 December 2024 REFERENCE AND ADMINISTRATIVE DETAILS Audltorn Inspire Compliance Limited Chartered AccouiKants RewsTrred Auditors 6 Qutrn5 Cour¢ TNrd Avenue Team Valley Gateshead Tyne and Wear NEI I OBU Solicltors Muckle LLP 32 Gallowgate Newcastle upon Tyme NEI 48F Adviso Bankers Lloyd5 Bank 102 Grey Street NeWcaSe Up¢M Tyne NE99 ISL Property Agents Sarah Main5 Propery Cor55ultants 4 Beaconsfield Road Low Fell Gateshead NE9 SEU STATEMETrTh OF TRUSTEES. RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and Uni¢ed Kingdgm Accounting Standards (Unlted Klngdom Generdlly Acceptrd Accovnting Prydcti). The law applicabte to charbiies in England and Wales, the Charitles Art 2011. Charity {Accounts and Reports) Regulatyon$ 2C4)8 and the Pro0nS of the t5¢ deed requwes Ihe trusrees to prepare financlal Stamen for exh financ1 year which pve a tnje and lair View of the 5rate of ar$ of the charity and of the incoming resources and appllcation of resouree& induding the income and expendttur< of the charity for that Feriod. In prtparing those financRI 5tatemtns the trUse$ are required to sdect sulrable accounrlng polides and then alY them consistendr. observe the method5 and principles in the Charity SORP, make jud8ement5 and estimate5 that are reasonable and prudent" Prere the financial ststements on the going concern bxsls unless it 1$ inappropriate to presuN* thAt rhe chari wlll continue in business.
The Hospital of Kins James in GateS1d Rem ofthe Trustees for the Year Ended 31 December 2024 sTATEMETr OF TRUSTEES. RESPONSIBILITIES - tontinued The trustees are responsible for keeping proper accounting records whith drsdose with reasonable accuracy at arv time the financial ptssition of the chatY and to enable them to ensure that the firrdnclal Statem1$ comply with the Charities Act 201 l. the Charity (Accounts and Reports) Reguliuon$ 2(K)8 and the pro¥AOn$ of the trust deed. Thèy are a150 responsible for safeguarding the assets of the charity and hence for taking reasonable stsps for the prevention and detettion of fraud and other irreguFariile& Approved by order of the board of trustees on 28 October 2025 and sgned on it5 behalf br. AJam25. Trustee
Report of the Ind•p•nd¢rf Auditors to th¢ Trustees of The Hospital of Kin8 James in Gateshead Opinlon We have atsdiced the sr2MentS of The Hospital of Kingjames in GaShad (the 'charity'i for the year ended 31 Decethr 2024 whlch tomprise the scatemt of Financial ACtIrIeS the Balance Sheet and notes to the finanoal statements. including a summary of sigTrtficant accounting policies. The financSal reporring fraffework that has been applied in their preparation 15 3pplicable law and United Kingdom Accounting stsnddS {Untted Kingdom Generalty Accepted Accounting Prattitè). In our opinion the finan0 staoment&' give a true and falr wew of the state of ¢he charitls affairs o at 31 December 2024 and of its incorning reS0rS and application of resources, for the year then ended,. have been properly prepared in accordance with Unitrd Kingdom Generally A¢cepted Accountlng Prathce., and have en prepared 41 accordance the requirements ofthe Charklès Att 2011. Basis for opinion We con(kncted our aud In accordance wlth Internatsonal Srandards on Auditing (UK) {ISAs IUKII and applicable law. Our responsibilities under those srandards are further described in the Auditors, responsibilities for the autjit of the financial statements section of our reporL We are Indep¢ndent of the charity in accordance with the ethical requlrernents that are relevant to our audit of the financial statements the UK Including the FRC'S Ethical Standard. and we have fulfilled other ethi(al respOnsi.11tieS in accordance with these requirements. We bdieve that the art ewider we have obtalned Is suffitrent and appropriate to provide a bals for our oplnlon. Conclusions relating to going concern In auditing the financial statements. we have conduded that the trustees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the Yffjrk we have wfornied. we have not identffied any material uncertainties relavng to events or condltlons tha¢ IndividulY or collectively. may cast signffitant doubt on the tharity's ability ro continue a5 1 going concern for a pertod of ai least tyrfdve months frorn when the financial $tarnts are authorised for r5sue. Our responsibilities and the respon5ibilitie5 of the trustees respect to going concern are descrlbed in the releyant sections of this repcL Other Information The trustees are respgnsible for the other InfrnadOn. The other Infr>rnYdtSon comprises the Information included in the Annual ReporL other than the financ41 Staments and our Report of the Independent Avdlcors thereon. Jr oplnion on the financial staternents does not cover the othw infornution and. except ¢0 the extent otherwise expjicidy stated In our report we do not express any form of assurance conclusion thereon. In connection with our audlt of the finantia $¢atsMen our responsibiltty is io read the other informatis)n and. in doing 50, consider whether the other inf0rn7atlon 5$ nllorHlly Inconsisnt Trmth the financ1 staternents or our knowledge obtained in the autht or othernyise appears to be materialy misstated. If we identify such mareri Inconsis¢eTroes or apparent m2ortal misstatements, WÈ are requirèd to determSne whether thi5 gives rise to a mawial misstatement in the firwicial Stments them5elve& If, based on the work wè have perfornwt, we conclude that there 15 a material mSssLatement of thls other Inf0rrrAtiO we are requlred to report that frAcL We have nothlng to report in this regard.
Report of the Independent Aythtors to the Trustees of The Hospitsl of King James in Gateshead Matters on which w• arn requlred to report by exception We have nothing ¢0 report in respett of the followtng matters where the Charityes (Accounts and Reports) Regulatty)ns 2008 requlres us to report to you if. in our opinion: the information yven in the Report of the Trustees is inconsistent in any rrAterial respect with the finanti statements: or sufficient accounting records have not been kepL or the financial statements are noc In agreement vlth the accounnI records and rewrns: or w¢ have not recwved all the inforrnatlon and eXanaon$ we require for our atyJrL R•ipon$ibilitigs of trust••s A5 explwned more llY in the Statement of Tru5es' Responsibilities. the trustee5 are re5POn5ible for the prepa¥atyon of the finaneial statemenu which ¥ve a true and fair view. and for such inrnal eofttrol as the tru$tee$ determine is necessary to enable the preparation of finantial statements that are free from material rni5StatemenL whether due to fraud or etTOr. In preparing the financial statemen(s. the t$$ are PonSible for assessing the ch&iLy'S abfjliEy ro conunue as a going concern, di5closin& as applicable, matters related to going concern 2nd using the going concern basis of ccounting unless ¢he trustees ather intsnd to liquidate the charity or to Cew operdtions. or have no realistic alternauve but to do s Our responsibilities for the audit of the ffinancI statemen¢$ We have been apwinted as audIr5 under Secdon 144 of the Charlties Aa 2011 and report In accordance with the ALt and relev3nt regulation5 made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a Who are free frorn marIal rrisstatrmenL whether due to frdud or error, and to Sssue a Report of the Independenr Audmrs that indude5 our opinion. Reasonable assuran 15 1 h¥h level of as5ufdnce. trxFt is a war2ntee that an audit condutted in accordance with ISAS IUKI wll always dett a ma*rial n$S¢tement when it exists. Misstatements can arise froffl frdud or error and are considered MIrial if, individually or in the aega. they could reasonably be expected to influence the economic decisions of user5 taken on the basis of these ffinancial staternent The extent to whith our wocedures are capable of detecting irregularitye& induding fraud is detailed below.. Based on our knowledge of the charity, we identTrled that the princip31 risk5 01 non complTrance woth law5 and regulations related to non-wmpliance with the charle5 A(¢ 2011 and we considered what effett non compliance may have a matrrial effert on the financr41 statsmen We e¥aluated management's incentives and opportunities to carry out fraudulent nmnlpulation of the financial statements and em)Ined thai the prlncipal rlsk was the reductbn kn nt Inco being recdved. - Audit PrOdre5 carr& out by the engagement team incltyjed: - Anatyucal review of rents received Comparing toTal income w po$$ible potential income. - Review of individual tyan5acoons for a sample of propertie> A further des01p0 of our resp0nslbi1 for the audit of the finarKlal stateTrts ts located on the Financial Repordng Council'5 website at www.frc.or&ukJauditorsrespon5ibih'ties. This description forms part of our Report of the Indewdent Auditors.
Report of the Independent Audittrs to the TStee5 of The HospiLIl of Kin8 James in Gateshead Usè of our report This report rs made solely to the charity's trustees. as a body, in accordance with Part 4 of the Charities {Accounts and Reports) Regulations 2008. Our audit Yrk has been undertaken $0 that we nw8ht state to the charity'5 trustees those matters we ar¢ regJired to sute to them in an auditOW5' report and for no other purpose. To the fijllest extent permitted by law. we do not accept or aSSuff responsibility to any¢)ne other than the charity and the charl$ trustees as a body. for our audit wort for thi5 repor( or for the otAnion5 we haye formed. In?Pl4 C&ni , Inspire ComlanCe Limid Chartered Ac¢ountant5 Rwstered Auditors 6 Queen5 Court Third Avenue Team Valley Gateshead Tyne and Wear NEI I OBU 28 October 2025
The Hospital of King James in Gateshead Statement of Frnancial Artivitieg for the Year Ended 31 December 2024 31.12.24 31.12.23 Totsl fund5 Unrestrictéd Reswtted (unds lund5 fiJnd5 Note5 INCOME AND ENDOWMENT5 FROM Donations and legacie$ 250 Charitable activitie5 Almshouses 161,978 161,978 149.416 InvesDnént rncorne Other income 14&210 6.232 3.679 151.889 &232 133,793 316320 3,679 320.199 284.571 EXPENDtruRE ON Ral$irtg funds 7&194 7&194 59.820 Charitable act6vitl•s Alm5house5 164.271 164.271 163.147 240.465 240,465 222,967 Net gain51{105se510Th in¥e5tments 968 1,233 1,735 14,195 NET INCOME Transfers between funds 73.087 242.177 4.912 42,171 75.799 15 Ntt m*)vement In funds 315.264 (237.2651 77.999 75.799 RECONCILIATION OF FUNDS Totsf funds brought forward 145&023 237.265 2,695.288 1619.489 TOTAL FUNDS CARRIED FORWARD 1773.287 1773.287 1695.288 The note5 forni part ofthese Ilnanclal sTaMents
The Hospital of King James in Gatssh•ad Balance Sheet 31 Décémbèr 2024 31.12.24 Total funds 31.1123 Total fijnds unrestric Resrricted funds lunds Notes FIXED ASSErs Tan&ble assets Investments Investments Investment propErty 10 99.654 99.654 101.347 582.296 1.764,539 582.296 1.764,539 575.991 1.764.539 2.44&489 1446.489 1441.877 CURRENT ASSETS Debtor5 Cash a¢ bank and in hand 13 &342 340,666 8.342 340.666 21.549 263.624 349,CQ8 349.CK)8 285,173 CREDITORS AnKJunts falling due wthin one year 14 {22.210) (21210} (31,762 NET CURRENT ASSETS 326,798 326.798 253.411 TOTAL ASSETS LESS CURRENT LIABILITIES 2,773,287 1773.287 1695.288 NET ASSETS 1773,287 2,773.287 1695.288 FUNDS Unresrrirted (unds Restritted fund5 1773.287 2.45&023 237,265 TOTAL FUNDS 2.773.287 1695.288 The ffinanci staTrment5 were approved by the Board of Trustees and authorised for iuue On 28 Octc4)er 2025 and were s•ed on its behalf by. Ajames - Trustee The notes form pfft ofthese fin4nd $taoments
The Hoswtal of Kin8 James in Gateshead Notes to the Financial Statements for the Year Ended 31 December 2024 STATEMENT OF COMPUANCE Hospital of Kin8 James 15 an unincorporated charity with rwstered charity number. 229942. The rewstered office 15 based at 48 Cedarway. Gateshead Tyme and We¥, NE10 8LD. ACCOUNTING POLICIES Basis of preparing the financial statements The finanoal statements of the charity. which is a public benefit entity under FRS IOZ haye be prepared in aecordance with the Chariries SORP {FRS 102) 'AccouThtyng and ReporThg by Charitiessotement of Recommended Prdctiee applicable to charities preparing their accoLJnts in accordance with the financial Reporting Stsndard 102 The Financial Reporting Standard applicable In the UK and Republic of Ireland, and the Charitie5 Act 2011. The finani?al 5tatemen¢s have been prepared under the h15torKal c05t conventlon with the exception of Investsnents which ¥e induded in market value. The finanti statèments have been prepared on a going concern basis ¢Jn the grouThJ5 that current and future sources of fundrng or support will be rrw)re than adequate for the chari$ needs. The Trustees have consldered a period of 12 months from ¢he balan sheet date and consider further di5c105ure relating to the charity's alIty to continue a$ a golng concern need to be made. Hospkal of King james meets the definition of a public benefit entity under FRS 102. Assets and lia&'lities are inmally recOlsed at hi5torid cos¢ or transaction Ydlue unless other%ise stated in the relevant accoLwTrting poticy notels). The financial accounts are prepared in Srling (£1. Significant tiMate$ and judgements The prepardtion of the financial statements requSres the Trustees to trAke judgements and estsmat¢s. The main areas where such judgements and esumaw are made are in respett of recogniticfi of income. The charity has applied the following accounting policSe5: Finan¢ial reporting Standard 102 - reduced disclosure eXemptiS The charity ha5 taken advantage of the following disclosure exernption in preparfng these ffinantial stttement& as pem)itted by FKS 102 The Rnancial Reportyng Standard applicable In the UK and Republic of Ireland.: the requiremtnt5 01 Secuon 7 Statement of Cash Rows. Intome All Income is cOgniSed In the Staternent of Financial Activities once the charity has entétlemenr to the funds. it 1$ prob3ble that the IncorT will be received and the amount can be measured reliably. Expenditure Liabiliues a recognlsed as expenditurè as 5QQTr a5 there is a legal or construciive obligdtion committing the tharity to that expeTrditu it is probable thar a transfer of economic benefits w411 be requirtd in 5etdem¢n¢ and the iTnt of the obligatyon on be measured rellably. E¥penditure Is accounted for on an accruas ba515 and ha$ been classthed under headlngs that aggregatr all cost related to the category. Where costs canno¢ be direcdy attributed to particular headin85 they have been allocated to athYiDe$ on a basis Consisnt with the Use of resources. P10 continued..
The Hospitsl of King James in Gat•sh•ad Notes to the Financial Statements - continu¢d for the Year Endtd 31 December 2024 ACCOUNTING POUCIES - ¢ontinued Tanglble fixed assets Depreclarion Is prOded at the following annual raS In order to Wri off each asset over its estimated useful Hospkal 2% on cost Investmtnt propèrty InvestmenE properties are Yalued on a cuent market value basis as valued a firm of Chartered Surveyors in 2014. Taxation The charlty 15 exernpt from tax on its charitak4e attiyities. FUMI accounting Generdl fund5 are unrestrfrted funds whlch arè availablè for use at the discretlon of the trustees in lurtherance of the general objectyves of the and which have Thor been des1*[ed for other purposes. Re$uitted funds are Mnds which are to be vs•d in accordance with the spedfic restrlctions imposed by donors or which have been r&sed by the charity for Pdrticular purposeL The cost of raising and adnNni$tering such fvnd$ are charged 1$¢ the specifK fund. The aim and use of eath restrirted fijnd is Set out in the note to the finaTrcAI accounts. P¢nsron c05ts arHI other post-re¢iremert benefits The charity operates a defined tontribution pension sche Contribution5 P3y7ble to the charity's pension scheme are charged to the Ststement of Financial Activities in the wlod to which they LIte. Investments Investments are sta in the Balance Sheet at nBrket value. Trade debtor5 Trade debtors are reco&mised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount wald after oking atcoun¢ of any trade discounts due. Cash at bank and in hand Cash ac bank and cash in hand include5 cash and Short term hhlY liquid investments wtth ? short maturlty of three months or less from the date of acqutsition or opening of the deposir or Similar account. Creditors and provi8lons Creditor5 an¢J provision5 are reco8nised where the charfty has a present obllgadon resulting from a past event that wlll probably resuk in the transfer of fvnds to a third parcy and the amount due co settle the obligation can be meastsres or eSMId reliably. Credlror$ and provisions are nornthlty recognised at their srtdefftènt amount after all¢)wing for any tradt diseeunts due. continued..
The Hospital of King James in Gat•sh•ad Notes to the Flnanclal Statements - continued for the Yw Ended 31 December 2024 INVESTMENT INCOME 31.1124 31.1123 Rents receNed DidendS reCeId 143.849 127.290 503 151.889 133.793 INCOME FROM CHARrfABLE ACTIVITIES 31.1124 31.1123 Total attivicle$ Almshg115¢S Hospiul income 161,978 149.416 RAISING FUNDS Raising donations and le8acles 31.IZ24 31.12.23 Insurance Sundrie5 Management fees Repairs Professional fèes 9.938 54 17.542 4&660 6.227 667 1&551 23.183 10.542 74194 59,170 SUPPORT COSTS Information tethnology Management Property hJmshousÈs 49,061 90,393 1918 Page 12 continued...
Th¢ Hospital of King James In Gat•5head Notes to the Financial Statements - corrtinued for the Year Ended 310ecember 2024 SUPPORT COSTS - contlnued Hun Other Totals Almshouses 5.898 160,131 support costs, included In the abov4 a5 follows: Management 31.12.24 31.1223 Tot21 atUrIeS Almshouses Cleaner and cleanlng material Warflen Pènsion5 Profession fees 10,416 37.912 733 9.933 31.359 650 7.1(N) 49.061 49.042 Property 31.1124 31.1223 Total activitie$ Almshouses Ratss and watsr Insurante ght and heat Community Care alarm Equipment and repr5 Depreciation freehold propwty Depredarlon of table fixed a55ets 212 4,O¢J) 43.214 10.060 21596 3.885 426 5.037 4.000 34.7(A 10,059 31147 1870 98 90.393 8&975 Page 13 Continued...
The Hospitsl of l(in8 Jam in Gateshtad Notes to the Financial Statements - continued for the Year Ended 31 December 2024 SUPPORT COSTS- continued InfornM¢ion technology 31.12.24 31.1123 Total Alm$house5 Tdephone and broadband Postage and stationery bscriptions 1.615 106 95 2.918 1169 Other 31.12.24 31.1123 Total Almshouses Sundr 5.898 4.524 TRUSTEES. REMUNERATION AND BENEFITS Trwtee remunerdtion amounced of £l,SCKI12023.' £3.OWI. This remuneration is a sdpen¢J paid to the Master in cOrdan with the charity's ¢ru5¢ deed. Trust••s' •xp•ns•s There were no trustses, eynsos for the year ended 31 December 2024 nor for the year ended 31 Detember 2023. STAFF COSTS 2024 2023 Cleaner Warden and adminlstrator 10.541 39.253 9,933 31C)9 49.794 42,942 The average rrf*nthty number of errployees during the year was as follows.. 31.1124 31.1123 Cleaner Warden Administrator Pw14 convnued..
The H05Pital of King Jam05 in Gateshead Note5 ¢0 the Financial Statements- continued for the Year Ended 310ecember 2024 STAFF COSTS- tontinued No employees reIved emoluments in excess of £60.(I)O. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Resthrted funds Total funds INCOME AND ENDOWMENTS FROM Donations antj le8acies 250 Charitable acdvltles Alm5house5 149,416 149.416 Inve$tmenc incott Other income 129,537 4.256 133.793 Total 280,315 4,256 284571 EXPENDITURE ON Raising fvnd5 59,820 59.820 Char5table artlvkie5 Alm5house5 163.147 163.147 Total 222.967 222.967 Nec gains on invesonents 1989 14.195 NET INCOME 6%554 7.245 75.799 RECONCILIATION OF FUNDS Total funds broutht forward 2.389.469 230.020 2.619,489 TOTAL FUND5 CARRIED FORWARD 2,45&023 237.265 2.695,288 Page 15 conufiued...
The Hospital of King James in Gateshead Notes to the Financial Statements - continu•d for the Yèar Ended 31 Dècèmber 2024 10. TANGIBLE FIXED ASSETS xwres and fittin8S Computer equipment Hospit Tottls COST At I january 2024 Adithtyons 194.260 426 220 194.686 1618 2.398 At 31 December 2024 194.260 1398 197,304 DEPRECIATION At I nUary 2024 Charge for yr 93.241 3.885 93.339 319 107 At 31 December 2024 97.126 319 205 97.650 NET BOOK VALUE At 31 December 2024 97.134 1079 At 31 December 2023 101,019 328 101,347 FIXED ASSET INVESTMENTS Lisd inve5tment5 MARKET VALUE At I lanvary 2024 Funds invested Rw&1110n9 575,991 8.040 1.735 At 31 DecenJer 2024 582.296 NET BOOK VALUE At 31 tkcernber 2024 582.296 A¢ 31 December 2023 575,991 InVestmts are held in common investment funds and equitres. There were no investment assets outside the UK. Pag• 16 continued...
The Hospital of King Jwnes in Gateshead Notes to the Finrial S¢temerrt$ - contlnu•d for the Year Ended 31 December 2024 FIXED ASSEf INVESTMENTS- contlnu•d Cost or valuation at 31 De¢ember 2024 is repre5end by." Llsted Investments Valuation in 2024 581296 12. INVESTMEKf PROPERTY FAIR VALUE At I january 2024 and 31 Dècember 2024 1.764.539 NET BOOK VALUE At 31 Decenknr 2024 1.764.539 At 31 December 2023 1.764.539 The iThvestmenc properties held consist of the followns Klngjarnes Cotoge 89 Old Durham Road No'5 1 to 8 King lame5 Street No'5 25 to 35 (odd numbers) and 39 Cenw Road No's 7174. 84 and 86 Wordsworth Street Recreation ground. &Jnderland Road Properties with a carrying YdluE of £l.010.ofA) were fdlued on 12 F&ruary 2014 by Knight Frank LLP. Chartered Surveyors ¢)n an opertr market fdlue assuming vacant possesston. The rerTraining properties were revalued over rdrious dates between April 2007 and September 2007 by Mclntosh Thompson. Chartered Surveyor& on the basis of a current market luation. The trustees have used the Nationw*Je House Price Index SIn these dates untll 31 St DeMbtr 2018 to adjust for the than8e in vafue. The recreation ground is not Y4lued for accwnrs purpose$ due to its nature, a5 is permitted by the SORP. Page 17 continued..
The Hoswtal of King James in Gateshead Notes to the Financial Statements- corrtinued for the Year Ended 31 December 2024 DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 31.1124 31.1123 Other debtors Prepayrnents accrued Income 4.210 4.132 4.129 17.420 8,342 21.549 14 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Trade creditor5 Taxation and so¢lal $ecurity Other creditors 5,371 501 1&338 18,253 474 13,035 21210 31.762 15. MOVEMENT IN FUNDS Net movement In ftjnds Transfers At 31.1124 At 1.1.24 funds Unr•stricted funds Unrestricted funds 145&023 73.087 241177 2,773.287 Restrirted funds RestricLed Funds 237.265 4.912 124IITII TOTAL FUNDS 2,69&288 77,999 1773,287 Net movement in fun induded in the *K)ve are as foNo IncomSng resources Resources expended GTr$ and losses m0Ment in thJTrds Unrostrirted funds Unrestricted fiJnds 316.520 1240.4651 9681 73,087 Restricted funds Resrrlcted Fund5 3.679 1.233 4.912 TOTAL FUNDS 320,199 240.465 77.999 Page 18 continue(L..
The Hoswtal of King Jame$ In Gateshead Notes to the Finala1 Statements - continu•d for the Year Ended 31 December 2024 15. MOVEMENT IN FUNDS . continued Comparatlves for movement In funds Net movement in fund5 At 31.12.23 At1.113 Unrestricted funds Unrestritted ffiJnd5 1389.469 6&554 2.4S&023 Ratricted funds Restritted Funds 230,020 7,245 137,265 TOTAL FUNDS 1619.489 75.799 2,695,288 Conyarntive net moYen*nt in funds. in¢luded in the above are as foll¢)ws: Incomin¥ resources Resotxces expended Gains and losses Movement in funds Unrestricted funds Unrè5tri¢ted fijnds 280.315 (2219671 11.206 6&554 Restrirted furMIs RÈstrltted Funds 4.256 2.989 7.245 TOTAL FUNDS 284,571 222,9671 14.195 75.799 extralary Repalr Fund By a supplerrEnd order dated 4 October 1979 by the Cha Commissiw the hospital was required to set aside out of income an annu sum of £1,395 in respect of extraordlnary rewr lund. The thnd and sts inc¢M)È therefrom shall be inYe5ted in the name of the Official Custodian. Property Equlty Reserve (known ag the Recoupment Fund) On 12 Aprll 2024. the Chariy Commission aHowed thi5 reserve to be released for gen purFoses having more than mec Its target. Page 19 ¢ontinued.-
The Hospital of Kin8 Jarn in Gateshead Notes to the Financial Statements - continued for the Year Ended 31 December 2024 16. RELATED PARTY DISCLOSURES There were no reLited party rransactyons for the year ended 31 December 2024. ULTIMATE COPROLLING PARTY The ¢h4riry is unts the control of the trustee5 of the parent thari¢y, Kinglames Almshouses CIO. Page 20
The Hospital of King Jrns in Gateshead Detailed Statement of Financial Activities for the Year Ended 31 December 2024 31.1124 31.12.23 INCOME AND ENDOWMENTS Donations and legacies Donations and letIeS 100 250 Investment income Rents received Di¥idend5 received 143.849 127.290 6.503 151.889 133,793 Charitable artivi¢ies Hosplral rental Income 161,978 149,416 Other income Deposir acctyJnt interest receNed 4232 Totsl incomin8 resources 320.199 284.571 EXPENDITURE Rai$in8 donation5 and legacies Insurance Sundrles Management fees Repairs ProlessloTral fees 9.938 54 17.542 48.660 &227 667 1&551 23.183 10.542 76.194 59.170 Charltable activitits Audit fees Stipend- Vicar of Gateshead 1640 1,500 4,140 Support Costs Management Cleaner antj cleaning material Carrled foThArd 10.416 10.416 9.933 9,933 This page does not forni part of the Statutory ffinancial statements Page21
Th• HPItal of KSnzJam•$ In Gat•sh•ad Detailed Statsment of Financial Activities for the Year Ended 31 December 2024 31.12.24 31.12.23 Manasement Brought foThvard Warden Penslons Profession fees 10.416 37,912 733 9.933 31.359 650 7.100 49.061 49.042 Property Rates water Insurance ght and heat Connunlty carè alarm Equipment and repairs Dweciation freehold properry Deweciation oftsnpble fixed a55ets 4212 5.037 43.214 10.060 22.596 3.88S 426 34.764 10.059 31147 1870 .393 88.975 Infomiation téchnology Telephone and broadband Posw and 5tadoxery Subscriptions 1.615 106 95 1918 2.169 Human resources kni)untsnry and bookkeeping Professional fets 5.861 7.447 13.447 Other Sundrs 5,898 4.524 Total resources expended 240.465 222,967 Net inciwne before galns and losses 79.734 61,604 R¢ali$ed recognised gaSn$ and los$e$ Realised gainsl{lossesl on hxed asset investments 1.735 14.195 Net income 77.999 75.799 This paze doe5 not form part of the statutory ffinancial statements Page 22