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2020-12-31-accounts

een com pared
to Th		 e Smaller Prov iders
Benchmark		 ing
Group		 (SPBG)for industry
comparability.
Metric 2020 2019
as restated		 SPBG
2020		 Commentary
New supply 0% 0% 0% The
Charity
has
15
Almshouses
in
delivered management.
This remains
as per the
previous
year,
with
no
new
supply
of
social
housing
or new
supply
of non-
social housin
.
Gearing (12.00)% (16.10)% 16.38% The Charity has no borrowings
compared
to indust
standard.
EBITDA MRI N/a N/a 250.5% The
Charity
has
no
borrowings
and
therefore
no interest
in the
ear.
Social Housing
Cost Per Unit		 E5,712 E2,483 E4,597 Income from social housing
was down
in
the year
due
to higher
voids
resulting
from the refurbishment
of No.46, which
also resulted
in a significant
increase
in
re air costs.
Operating Margin (22.23)% 16.63% 17.52% As a Charity,
The Hospital
of St Thomas
Overall receives
a
significant
level
of income
Social Housing (25.64)% 16.63% 18.1% from
its
Investments,
which
produced
F23,745
in
2020,
thus
impacting
the
Lettings only operating
margin.
This
income
also
underwrites
part ofthe charity's operating
costs. Significantly
higher
maintenance
costs in 2020 have resulted
in an decline
in mar
in corn
ared to industr
standard.
ROCE (1.20)% 0.83% 2.35% This is particularly
low due to the minimal
liabilities
of the
charity
with
a negative
o eratin
sur
lus in the
ear.
Reinvestment 5.77% 0.24% 3.62% Major refurbishment
works undertaken
in
the
year
leading
to
a
significantly
increased
metric.
The
trustees
are
satisfied
that the properties
have
been
maintained
to a good standard.

2020 2019
Unrestricted Restricted Total Total
funds fund funds funds
as restated
Notes E E
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 12,306 12,306
Charitable
activities
Housing
Activities		 54,382 54,382 59,240
Investment
income		 23,812 23,812 23,247
Total 90,500 90,500 82,487
EXPENDITURE ON
Charitable
activities
Housing
Activities		 66,937 1,389 68,326 49,386
Net gains/(losses)
on		 investments ~38,740) ~38,740) 71 285
NET INCOME/(EXPENDITURE) (15,177) (1,389) (16,566) 104,386
RECONCILIATION
OF FUNDS
Total funds brought forward
As previously
reported		 1,101,896 1,101,896 1,077,349
Prior year adjustment 9 79,839 79,839
As restated 1,101,896 79,839 1,181,735 1,077,349
TOTAL FUNDS CARRIED FORWARD 1,086,719 78,450 1,165,169 i,181,735

2020 2019
Unrestricted Restricted Total Total
funds fund funds funds
as restated
Notes E
FIXED ASSETS
Tangible assets 12 415,348 78,450 493,798 479,133
Investments 13 608,442 608,442 618,062
1„023,790 78,450 1,102,240 1,097,195
CURRENT ASSETS
Debtors 14 7,539 7,539 4,353
Cash at bank 58,960 58,960 82,622
66,499 66,499 86,975
CREDITORS
Amounts
falling due within one year		 15 (3,570) (3,570) (2,435)
NET CURRENT ASSETS 62,929 62,929 84,540
TOTAL ASSETS LESSCURRENT
LIABILITIES 1,086,719 78,450 1,165,169 1,181,735
NET ASSETS 1,086,719 78,450 1,165,169 1,181,735
FUNDS 16
Unrestricted
funds		 1,086,719 1,101,896
Restricted
funds		 78,450 79,839
TOTAL FUNDS 1„165,169 1,181,735

4. CHARITABLE ACTIVITIES COSTS CHARITABLE ACTIVITIES COSTS CHARITABLE ACTIVITIES COSTS CHARITABLE ACTIVITIES COSTS CHARITABLE ACTIVITIES COSTS CHARITABLE ACTIVITIES COSTS CHARITABLE ACTIVITIES COSTS
Direct Support
Costs (see costs (see
note 5) note 6) Totals
E E
Housing Activities 55,025 13,301 68,326
5. DIRECT COSTS OF CHARITABLE ACTIVITIES
2020 2019
as restated
E
Rates and water 7,547 6,151
Insurance 1,729 1,764
Light and heat I 227 1,276
Repairs and maintenance 21,366 7,397
Garden maintenance 3,867 3,400
Warden call system 1,378 2,041
Christmas
gifts		 400 400
Depreciation 15,658 15,084
Loss on sale ofassets 1,853
55,025 37,513
6. SUPPORT COSTS
Governance
Management costs Totals
E
Housing Activities 11,381 1,920 13,301
Support costs, included in the above, are as follows:
2020 2019
as restated
Housing Total
Actiwties activities
E
Clerk's fees 8,500 8,000
Charity protection insurance 408 397
Postage, stationery, advertising and
telephone 844 879
Sundries 871 143
Subscriptions 758 594
Independent Examination 1,920 1,860
13,301 11„873

Unrestricted Restricted Total
funds fund funds
as restated
F
INCOME AND ENDOWMENTS FROM
Charitable
activities
Housing
Activities		 59,240 59,240
Investment
income		 23,247 23,247
Total 82,487 82,487
EXPENDITURE
ON
Charitable
activities
Housing
Activities		 47,997 1,389 49,386
Net gains on investments 71,285 71,285
NET INCOME/(EXPENDITURE) 105,775 (1,389) 104,386
RECONCILIATION
OF FUNDS
Total funds brought forward 996,121 81,228 1,077,349
TOTAL FUNDS CARRIED FORWARD 1,101,896 79,839 1,181,735

At 1stJanuary 2019 At 1stJanuary 2019 As Previously
Stated		 Adjustment As Restated
f. F E
Fixed assets 1,097,195 1,097,195
Current assets 86,975 86,975
Creditors due within one year (3,824) 1,389 (2,435)
Creditors due in more than one year 78,450
1,101,896 1,181,735
Unrestricted
Funds
Restricted
Funds		 1,101,896 (79,839) 1,101,896
79,839
1,101,896 1,181,735
During t he year ended 31st Dece mber 20 19the following
adjustments		 were made:
2019
E
Surplus for the year as previously reported 105,775
Reversal of amortisation of social housing grant (1,389)
As restated 104,386
2020 2019
E F
Turnover
Operating		 from Social Housing
costs of Social Housing		 54,382
~66,476)		 59,520
~49,366)
Operating surplus and surplus on Social Housing activities ~12,093) 10,134

Aggregate
amount
received
At 31st December 2020 and 31stDecember 2019 126,170
Released to Statement
of Financial
Activities
At 31st December 2020 and 31st December 2019		 ~12617
Social Housing
Grant Carried forward

TANGIBLE FIXEDASSETS
Fixtures
Housing and
properties fittings Totals
E F E
COST
At 1 January 2020 658,229 8,362 666,591
Additions
Disposals		 32,176
~3,793)		 32,176
~3,793)
At 31 December 2020 686,612 8,362 694,974
DEPRECIATION
At 1 January 2020
Charge for year
Eliminated
on disposal		 181,606
14,822
~1,940)		 5,852
836		 187,458
15,658
~1,940)
At 31 December 2020 194,488 6,688 201,176
NET BOOK VALUE
At 31 December 2020 492„124 1,674 493,798
At 31 December 2019 476,623 2,510 479,133

13. FIXED ASSET INVESTMENTS
Listed investments
MARKET VALUE f
At 1 January 2020 618,062
Additions 29,120
Revaluations $38,740)
At 31 December 2020 608,442
NET BOOK VALUE
At 31 December 2020 608,442
At 31 December 2019 618,062
There were no investment assets outside the UK.
14. DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
as restated
f
Contributions
in		 arrears 3,899 2,020
Other debtors 17253
Prepayments
and		 accrued income 2,387 2,333
7,539 4,353
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
as restated
f f
Other creditors ~3570 2,435
16. MOVEMENT
IN		 FUNDS
Prior Net Transfers
year movement between At
At 1.1.20
f		 adjustment in funds
f		 funds
f		 31.12.20
f
Unrestricted
funds
General
fund		 85,307 15,125 (33,026) 67,406
Property
8 Endowment
fund 535,133 (5,296) 32,176 562,013
Extraordinary
Repairs
fund 195,863 13,690 850 210,403
Cyclical Repairs &
Maintenance
fund
Investment
revaluation		 6,044 44 6,088
fund 279„549 ~38,740) 240,809
Restricted funds 1,101,896 (15,177) 1,086,719
Housing
Property		 fund 79,839 (1,389) 78,450
TOTAL FUNDS 1,101,896 79,839 (16,566) 1,165,169

Net mo vement
in fund		 s,
include		 d
in the a		 bove are as follo ws:
Incoming Resources Gains and Movement
resources expended losses in funds
E E E
Unrestricted
funds
General fund 68,629 (53,504) 15,125
Property & Endowment fund 8,137 (13,433) (5,296)
Extraordinary
Repairs		 fund 13,690 13,690
Cyclical Repairs
& Maintenance		 fund 44 44
Investment
revaluation		 fund )38,740) )38,740)
Restricted funds 90,500 (66,937) (38,740) (15,177)
Housing Property
fund		 (1,389) (1,389)
TOTAL FUNDS 90,500 )68,326) )38,740) )16,666)
Comparatives
for movement		 in funds
Net Transfers
movement between At
At 1.1.19 in funds funds 31.12.19
E E
Unrestricted
funds
General fund 64,247 25,276 (4,216) 85,307
Property & Endowment fund 535,891 (4,974) 4,216 535,133
Extraordinary
Repairs		 fund 181,722 14,141 195,863
Cyclical Repairs
& Maintenance		 fund 5,997 47 6,044
Investment
revaluation		 fund 208,264 71,285 279,549
Restricted funds 996,121 105,775 1,101,896
Housing Property
fund		 81,228 (1,389) 79,839
TOTAL FUNDS 1,077,349 104,386 1,181,735

Compara tive
net		 move ment
in f		 unds,
incl		 uded
in the above		 are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
E F E
Unrestricted
funds
General fund 60,399 (35,123) 25,276
Property & Endowment fund 7,900 (12,874) (4,974)
Extraordinary
Repairs		 fund 14,141 14,141
Cyclical Repairs & Maintenance fund 47 47
Investment
revaluation		 fund 71,285 71,285
82,487 (47,997) 71,285 105,775
Restricted funds
Housing Property fund (1,389) (1,389)
TOTAL FUNDS 82,487 ~49, 3861 71,285 104,386

2020 2019
as restated
E
INCOME AND ENDOWMENTS
Donations
and legacies
Donations 12,306
Investment
income
Investment
income		 23,745 23,183
Deposit account interest 67 64
23,812 23,247
Charitable
activities
Housing
activities		 54,382 59,240
Total incoming
resources		 90,500 82,487
EX PENDITURE
Charitable
activities
Rates and water 7„547 6,151
Insurance 1,729 1,764
Light and heat 1,227 1,276
Repairs and maintenance 21,366 7,397
Garden
maintenance		 3,867 3,400
Warden
call system		 1,378 2,041
Christmas
gifts		 400 400
Depreciation
of housing		 properties 14,822 14,248
Fixtures and fittings 836 836
Loss on disposal of housing components 1,853
55,025 37,513
Support costs
Management
Clerk's fees 8,500 8,000
Charity
protection		 insurance 408 397
Postage, stationery, advertising and
telephone 844 879
Sundries 871 143
Subscriptions 758 594
11,381 10,013
Governance costs
Independent
Examination		 1,920 1,860
2020 2019
as restated
E
Total resources expended 68,326 49,386
Net income 22,174 33,161