THE HOSPITAL OF SIR THOMAS MIDDLECO ALGARKIRK AND FOSDYKE (Reg. Charity No. 254147) RECEIPTS AND PAYMENTS ACCOUNTS for the year ended 31 December 2024
THE HosprfAL OF SIR THOMAS MIDDLECO ALGARKIRK AND FOSDYKE corirENTS PAGE No. land2 Trustees Annual Report Independent Examiners Repgrt Statement of Financial Activities ststement of Assets and Liabilities Notes
TRUSTEES ANNUAL REpoKf 2024 LEGALAND ADMINisfRATIVE INFORMATION The Hospital of Sir Thomas Middlecott Algarkirk and Fosdyke- Reg. Charity No. 254147 is a chartty governed by the schemes of the Charity Commissioners dated 6th April 1983 and is constituted by one ex-officio trustee {the Vicar of Fosdyke and Rector of Algarkirkl, two nominatNe trustees (one nominated by Algarkirk Parish Council and one nominated by Fosdyke Parish Council) and six c(popted trustees (three residents of Algarkirk and three residents of Fosdyke). Charity Trustees- who have acted at any time during the 2024 financial year are-_ Nominated - Mr D Glenn (Fosdyke Parish Council), Mrs C Humphreys (Algarkirk Parish Council) until November 2024 Co-opted - Fosdyke- Mrj H Burdall. Mrjw Ulyatt, Mr D Bristow Algarkirk- Mrjw Moore, Mr ON Moore until May 2024. Mr A Blair and Mr D Bradley from May 2024 Clerk Ms S A Wilson, 50 Bell Lane, Moulton. Nr Spaldin& Lincs. PE12 6PH (resigned) K Page lappointed} Sunrise. Mill Lane Fosdyke, Lincs PE20 2BL Bankers Barclays Bank plc, Boston, Lincs. PE CCLA, Senator House, 85 Queen Victoria Street. London EC4V 4ET Solicitors - Chattertons, 12 Broad Street, Spaldin& Lincs. PEII IES Independent Examiners - TC Bulley Davey- 14 London Road, Spaldin& PEII 2TA
NARRATIVE INFORMATION Objectives and Prinapal Artivities The Charitvs principal attiwty continued to be that of the provtsion of Almshousesfor financially disadvantaged people in the villages of Algarkirk and Fosdyke. To satisfythese objertives the Charity owns four bungalows (two each in Algarkirk and Fosdykel which have residents appointed Development. Activities and Athievements There has been no further progress with the plotthe Charity has been offered as the remaining plots are unsold at present. In the opinion of the Trusteesthere were no serious incidents or other matters which they were required to bringto the attention of the Charity Commission. Financial Review The objectives are to generate SLrfficient income to continue the activities of the Charity and to maximise the return of the Chartvs assets. Within the portfolio, cash reserves are held to ensure the ongoing activities of the Charity can be maintained. Accumulated Funds shown on the Balance Sheet as at 31 December 2024- General Fund £2.136.808 Cyclical Maintenance Fund 22.498 Restricted Funds: Land and properties Extraordinary repairfund Capital Expenditure fund £ 958.395 £ 149.743 £ 49.735 Approved by the Trustees and signed on their behalf by= D Glenn thairman Dated:
Independent examiner's report to the trustees of The Hospital of Sir Thomas Middlecott Algarktrk and Fosdyke oll the financial statements for the year ended 31 December 2024 Respective responsibltieS of trustees and examiner The clMTity's Inwees aTC Wnsible forthe p[qM[th( ofth¢ accounts. Tbe charity's trustees consider that an audit is not iequired for this year und¢r section 144 of thc Cb2Tities Act 2011 fthe cIltieS Act,) and that an independent examin0 is need&1 It is my Tespollsibility to: examine the accounts under se¢tton 145 of the chitIeS to follow the prOCe(heS laid dovrn in the general DiJEoAOnS given by the Charity Coom]ission (ullder section 145(5)(b) of the Ch&yti&% ACL and to statc whetherparticular DWers bave come to my atte10 Basi5 of independent eiaminevs statement My examination carried out Tn accordall with general DiTecti¢)]]s given by the C17ty CommissAOII. An examtoatioll includes a review of the a(lltIllg records kept by the charity and a comparison of the accounts presented with those reconLs. It also includes considetztion of any unusual items or disc108ur&% in the accouoty and seeking explanations from the trustees concerning any such matters. The plledureS undertaken do not provide all the evidence that would k required in an audit. alld conseqllent]y no opinion is Vell to whether the acLX)unts prew a .tn and fair, view and the report is limtted to those lltters set out in the statement below. Independent examitier's statement In collnection with my examinatio no matttthas come to my attentio l. which gives me Tea8onable cause to bejieve that any material rwL the requiments: to keep accounting recoTds in a(rordance with section 130 of the Clwities Act; and to prepare accounts which accord with the ac¢ountillg retords and comply wlth the accouuting requirements of the ChaTities Act have not been meL or 2. to whicl in my Opinio attention should be drrn in orderto enable a proFWm]derstanding of the ac¢oullts to be ftached. P R Wright FCCA TC Group Chartered Accountants 14 London RO SpaId[ Lincolnshi Date Page 3
THE HOSPITAL OFSIR THOMAS MIDDLECOTT ALGARKIRK AND FOSDYKE RecÈipts ar¥1 Payments kcountsforthe >pareryted 31 December 2024 2024 fvnd5 funts Total Totsl RECEIPTS Weekly MaintenarKe Contribtrtw)n Land Rent CalN Gas (refund from resNlentl Insurance I drainage rate retharge Pole Rent CDF Interest Investrnent Fund Ddend Bank Interest TOTAL RECEIPTS 6.895 40,183 500 1.213 138 733 7,314 4L396 41396 45 743 8.925 743 8325 30 $8,740 58.740 56.995 PAYMEri Alm5hou5e Subscriptlon Watsr Char#e5 Insutance Admlnlstration Repairs and Cy¢liE31 Maintenan Almshouse Improvemerrt5 nd/Buildings improvemont Other TOTAL PAYMENTS 275 L138 2381 275 267 1.019 2.381 3.656 s,(5 2.691 215 15.720 830 649 26.110 15,720 830 649 26.110 874 12256 ASSET AND INVE5tMENT PURCHASES Investments Land TOTALASSET AND INVEThIvpuRcHAsES 2.691 2.691 2.591 2,691 2.691 2591 NET RECEIP75 FOR THEYEAR 32.630 -1691 299 42.148 Transfers between fuads sh funds lastyeareThS -2.691 t103554 2,691 403554 361,406 CASH FUNDS7HISVÉAR END 433A93 433.493 403,554 The Th)tes on page 6forni part (rfthese receipts and mertts acrourts
THE HOSPITAL OF SIR THOM MIDDLECO ALGARKIRK AND FOSDYKE ststement of Assets and Liabilities forthe year ended 31 December 2024 2024 2023 CASH FUNDS Community knount Deposlt Fund Business Saver Account 248348 183.127 2.020 227363 174.202 1.989 433.495 403,554 INVEsrmETr A55EtS COIF Charity Fund COIF Extraordinary Repair Fund M & G Re¢oupment Fund 27,312 149.742 49.735 26,709 139,986 45.91J4 226.Th) 212,599 A55Efs RAINED FOR THE CHARITY'S OWN USE Land Bungalows 1928,395 7285C(J 1,928,395 728,500 2.656W5 2,656.895 3.317.179 3,273,048 REPRESENTED BY Unrestricted fund5 Cash funds Investment Awts Assets retsined for the charitvs own use 433.495 27312 I.6985(• 403,554 26,709 1.698,5(M) 2.159.306 2,128.763 Restricted Funds Investment Assets Assets retained for the charity's own use 199.478 958.395 185,890 958.395 1.157A73 1.144,285 3.317.179 3273,048 Approved by the Trustees and signed on their behalf by D Glenn- Chaim)an Dated I£yL The notes on page 6 fom) part ofthese reIpts and payments accounts Page 5
THE H05PffALOF SIR THOMAS MIDDLECO Notestothe ACCOWt0rtheyearended 31 December2024 I. PREPARATION OF RECEIPTSAND PAYMEPITSACCOUPtts al Rental Income Rental irKome is included in the receipts and paymentsat¢ount on receipL bl Inve5trnert Receipts Dividewbds are included in the receipts and payments account on receipL Bank irtwest ts Iluded in the receipts and payments accounton recetpt. cl Payments There are no purthase invoices received befo the year end but not paid until afterthe year end. and there are no item5 of expendf(ure inCued beforethe yearend no inwKe reNed until afterthe year end. 2. ASSEfs RAINED FOR THE CIIARbTfsowN LISE At 31 December 2024the Charrty'5freehold land and buildin wereasfollows: - 7.181 acre5 Ortheab0Uts SItte at Old lke - 7.85 acres Ortheab0Uts sIte * Swineshead - 12.708, 4.241, 2.629 and 3.09 aryes orthereabouts Situate at VIOft - 11.37 acres orthereatK)uts situate at Fenhouse5 - 335 acres orthereatrxjuts and farm buildings at Thoml - 2 freehold semi-detsthed bunga]ows at Old Main Road, Fosdyke and 2 Semi-deatd bureakn at Church lane, Algarkirk All of the land is 5ubiett to tenancies and the four alrn51wJ bu105 We ocwpted, as of 315t Dernber 2024, by residents appointed bytheTrustees. The Statement of Assets and abil[tIeS iKludèfreehold land abxl buildings at the Trustees own valuath)n, based on local and current irrformation as folknws.. The 380.979 acres or thereaLy)uts ol land hdd at 31 Dec 2024 has been Yèlued ty the Tru2ee5 (based on the Tru5tee5' knowledge of local and current land Wdlue51 at £5LMXJ per acre. This valuation being deemed reasonable because the protected tenancie's that exist renderthe FQtertial saleTrAlue L*lowthat of marketvaluL The 3.09 acre5 purchased in 2015 is valued at Cost1£235) The Almshouses at Old Main Road. Fos(tyke and Church Lane, Algarkirk have been in¢luded attheir current valuefor insurance purposesof £7285C INVESTMENTS Sharthol¢fi vah at ijan Addltionl DISPD Valuation Increase IDe¢reasel 2024 Value at 31 Dec 2024 COIF Charity Fund 1345.86 26.709 f3 27,312 COIF- Extraordinary Repair 57457 139.986 2556 7.200 149,742 M & G- Recouprnerrt Fund 410.79 459)4 135 3,696 49,735 IIA99 226,789 4. TRU5tEE REmuNERAoN No remuneration was paid or payable directty or indirKttyout of the fvndsof the Charity durinEtheyearto aTryTrullee orto any person or persons known to cOnnted with anyof them. No reimbursement of expenses has been madeor is due to be madetoanyTrustee in respect of the year under review. Pa8e 6