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2022-12-31-accounts

ST JOHN'S HOSPITAL, WILTON

REPORT OF THE TRUSTEES

AND

STATEMENT OF ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

CONTENTS

Page

  1. Trustees, Officers and Advisers 2. - 4. Trustees' Report 5. Independent Examiner's Report

6-7. Statement of Financial Activities 8. Balance Sheet

  1. -19. Notes to the Accounts

      1. Detailed Income and Expenditure Account (for Trustees' use only)

FLETCHER & PARTNERS

CHARTERED ACCOUNTANTS

SALISBURY

ST JOHN'S HOSPITAL, WILTON TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees present this report together with the financial statements of the Charity for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's governing document, the Charities Act 2011 and 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

Page 1

Ireland and the Financial Reporting Standard applicable in the UK and Republic of Ireland, FRS 102 .

TRUSTEES:

EX-OFFICIO

The Dean of Salisbury or Nominee - Vacant The Rector of St Mary & St Nicholas Church, Wilton - Rev M Wood NOMINATIVE - for terms of 4 years Col R Fawcus by Wilton Parish Church PCC (appointed 01.11.16) Vacant - by Salisbury District Council

CO-OPTATIVE - for terms of 5 years Mrs V Rolfe (reappointed 20.02.18) Mrs B Appleton (resigned 18.07.22) Brigadier S Cowlam (appointed 07.12.20) - Chairman from 01.01.22 Mrs J Finlay (appointed 20.07.22) Mrs A Ward (appointed 18.07.22)

CHARITY ADDRESS: St John's Hospital, Wilton, Salisbury SP2 0JN 4, St John's Square, Wilton SP2 0DN

CLERK TO THE Brigadier N O'Connor TRUSTEES: 4, St John's Square, Wilton SP2 0DN Bankers - CAF Bank Ltd, 25 Kings Hill Ave, West Malling, Kent ME19 4JQ ADVISERS: Solicitors - Parker Bullen, 45 Castle Street, Salisbury SP1 3SS Independent - Mrs N A Halls FCA, Fletcher & Partners, Crown Chambers, Examiners Bridge Street, Salisbury, SP1 2LZ Surveyors - The Diocesan Surveyor, Church House, Crane Street, Salisbury SP1 2QB Investment - CCLA Investment Management Ltd, Senator House, Adviser 85 Queen Victoria Street, London, EC4V 4ET

REGISTERED CHARITY NUMBER: 255110 (England and Wales)

ST JOHN'S HOSPITAL, WILTON TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

LEGAL STATUS

The hospital is a registered charity number 255110. It was founded many years ago and existed as the Corporation of the Prior, Brethren and Sisters of the Hospital of St John near Wilton until a Charity Commissioners' scheme was made on 21 May 1968 and supplemental orders on 23 March 1978 and 28 October 1996. The charity deregistered from the Housing Corporation as a Registered Social Landlord from 28 September 2004.

OBJECTS

The principal charitable object of the Charity is the provision of almshouse accommodation for needy persons resident in the District of Salisbury at the time of appointment. This is clearly for the public benefit.

ACTIVITIES

The Hospital houses residents in 19 units of accommodation in Wilton, 6 of which are in the new block built as a joint project with the College of Matrons, Salisbury in 1997.

RESERVES POLICY

The Trustees of the Charity are able to use the surplus accumulated income over expenditure on future projects, to improve the facilities and operation of the Almshouse. The Extraordinary Repair reserve of £61,453 is set

Page 2

aside to meet the cost of extraordinary repairs to the almshouses. The trustees have resolved to try to set aside £10,000 pa to build up the Charity's general reserve over the next few years, subject to the ongoing maintenance needs of the properties. The general reserve at 31 December 2022 was £214,520.

INVESTMENT POLICY

The Trustees' policy is to obtain sufficient income from investments to help meet the costs of the Charity, and also to maintain the real value of the Charity's investments over the long-term by investing in a portfolio of equities, fixed interest stocks and cash. This is achieved by investing in a range of common investment funds for charities managed by CCLA Investment Management Ltd. The Trustees are bound by the Trustee Act 2000.

RISK MANAGEMENT

The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate exposure to the risks. The principal risks faced by the charity lie in the performance of investments and property management. This is mitigated by retaining expert professional investment managers and investing in a range of diversified funds.

ORGANISATION

The Trustees remain closely involved in the operation of the Charity. The part-time dedicated Clerk, appointed in 2007, retains responsibility for administrative matters and the management of the accounts including responsibility for the collection of residents' contributions. The Clerk operates from an office situated within St John's Hospital. He also has responsibility for the payment and subsequent recovery of certain items of expenditure shared jointly with Matrons' College. The Trustees meet a minimum of three times a year. New trustees are recruited and appointed following personal recommendation by the existing Trustee body and are trained by the Chairman and the Clerk. The salaries and fees of key management personnel are set in consultation with the trustees. The charity's property is held by the Official Custodian for Charities.

TRUSTEES' RESPONSIBILITY FOR THE PREPARATION OF ACCOUNTS

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period. In preparing the financial statements, the Trustees are required to:

ST JOHN'S HOSPITAL, WILTON TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

TRUSTEES' RESPONSIBILITY FOR THE PREPARATION OF ACCOUNTS (Continued)

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Charity's schemes. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

REVIEW OF PROGRESS AND ACHIEVEMENTS

The Hospital continues to provide nineteen units of accommodation for residents, in addition to a Flat reserved for the Warden. A further twelve Flats belonging to the College of Matrons share the site.

Two new Trustees were appointed during the year, and both are most welcome.

The Resident Warden remained in post and continued to perform her role as Warden in an outstanding way. Her dedication to her role as Warden and the way in which she carried out her duties has been deeply appreciated by Trustees and Residents alike.

Page 3 There were two changes of occupancy during the year with new residents occupying Flats 11 and 14 respectively, following extensive refurbishment. Sadly one of our residents died in November after a short illness . The residents Flat (No 7) remained unoccupied at the end of the year but will be relet in the New Year following redecoration and refurbishment.

There were three changes of occupancy also in the Matrons’ College Flats.

Our rolling programme of maintenance and repairs continued throughout the year. In addition repairs had to be undertaken in Flat 13 following a water leakage, whilst new carpeting replaced worn-out carpets in Flat 10. A number of other minor improvements were made to some of the other Flats. The usual annual gas safety inspections were completed, as were fire safety checks, the servicing of our stair-lifts and maintenance of the personal alarm systems.

A waiting list continues to be maintained and some twenty names were on the list at the end of the year. The list is updated quarterly, to confirm that those who have applied still wish to remain under consideration. A number of names were removed from the list having failed to respond to enquiries for more than five months.

The gardens continue to be well maintained by our contractors and by a number of our residents and bring pleasure to all. The borders surrounding the cottages and the ground floor flats had become overgrown and in some cases were causing damp in the walls. The programme of removing the shrubs , and laying gravel beds in their place continued in to 2022 and will be taken forward in 2023.

The residual effect of the Corona Virus pandemic continued to affect social activities, although small gatherings did resume, and attendance at our weekly Chapel Services began to return to pre pandemic levels, which was most welcome. Once again, our Residents were sustained throughout by their families and friends and by dedicated support by the Wilton Help network. As always, the work and care provided by the Warden was pivotal to the lives of the Residents throughout the year and both they and the Trustees owe her a huge debt of gratitude.

Page 4

ST JOHN'S HOSPITAL, WILTON

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

PUBLIC BENEFIT STATEMENT

The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.

REVIEW OF TRANSACTIONS AND FINANCIAL POSITION

The Charity's total income for the year was £138,464 including investment income of £18,263, Expenditure was £138,886, including depreciation of £16,503. Investment fund values decreased by £116,931, resulting in a deficit for the year of £117,353.

The twenty second recoupment payment of £5,000 was made in 2021, no repayment was made in 2022, to recoup over 50 years the capital of £226,000 spent on the new almshouses in 1997.

At the year end the Charity had net assets of £1,425,674, including investments worth £973,140. The almshouses (inclusive of those with nil cost in the accounts) were insured for £5.217 million.

The Trustees consider the financial position of the Charity to be satisfactory and confirm that the financial statements comply with current statutory requirements, with the charity's governing documents and the relevant Charity SORP FRS 102. The investments held were acquired in accordance with the powers in the governing Charity Commission Schemes, and the assets held are adequate to fulfil the Charity's obligations.

Signed on behalf of the Trustees

..................................................................................................

N O'Connor Approved by the Trustees on 1 August 2023

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ST JOHN'S HOSPITAL, WILTON

I report to the trustees on my examination of the accounts of St John's Hospital, Wilton (the Charity) for the year ended 31 December 2022, which are set out on pages 6 to 19.

RESPONSIBILITIES AND BASIS OF REPORT

As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act").

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

(1) accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

(2) the accounts do not accord with those records; or

Page 5

ST JOHN'S HOSPITAL, WILTON

(3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed: Nicola A Halls

Name: Nicola A Halls

Relevant professional qualification or membership of professional body (if any): FCA

Address: Fletcher & Partners, Crown Chambers, Bridge Street, Salisbury, SP1 2LZ

Date: 28 September 2023

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted Funds Unrestricted Funds Recoupment
and Total
General Designated Endowment Total 2021
Notes Fund Funds Funds 2022
INCOME FROM
17,608
Investments 2 18,263 - - 18,263
Charitable activity 89,675
Provision of accommodation 3 88,630 - - 88,630
27,27
Other 4 31,571 - -
 31,571 7
138,464 - - 138,464
122,383 11,983 4,520 138,886
122,383 11,983 4,520 138,886
- - - -
(29,085) (6,075) (81,771) (116,931)
(13,004) (18,058) (86,291) (117,353)
- - - -
(13,004) (18,058) (86,291) (117,353)
£ 227,524 £ 414,577 £ 900,926 £ 1,543,027
£ 214,520 £ 396,519 £ 814,635 £ 1,425,674
Page 6 Page 6
TOTAL INCOME134,560 ST JOHN'S HOSPITAL, WILTON
EXPENDITURE ON
Charitable activity
Provision of accommodation 5170,621
TOTAL EXPENDITURE170,621
NET GAINS/(LOSSES) ON INVESTMENTS
Realised gains/(losses) on investments689
Unrealised gains/(losses) on investments 9145,595
NET INCOME/(EXPENDITURE)110,223
Transfers between funds 14 -
NET MOVEMENT IN FUNDS110,223
RECONCILIATION OF FUNDS:
Fund Balances at 1 January 2022 13,14,15£ 1,432,804
Fund Balances at 31 December 2022 13,14,15£ 1,543,02~~7~~

The notes on pages 9 to 19 form part of these accounts.

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2022

COMPARATIVE INFORMATION ONLY

INCOME FROM
Investments
Charitable activity
Provision of accommodation
Other
134,560
-
-
134,560		 Notes Unrestricted Funds
Recoupment
and
General
Designated Endowment
Total
Fund
Funds
Funds
2021
17,608
-
-
17,608
89,675
-
-
89,675
27,277
-
-
27,277
2
3
4

154,118 11,983 4,520 170,621

Page 7

ST JOHN'S HOSPITAL, WILTON

ST JOH
154,118 11,983 4,520 170,621
- 689 - 689
31,199 10,032 104,364 145,595
11,641 (1,262) 99,844 110,223
25,000 (30,000) 5,000 -
36,641 (31,262) 104,844 110,223

£ £ 190,883 £ 445,839 £ 796,082 1,432,804 £ 227,524 £ 414,577 £ 900,926 £ 1,543,027 TOTAL INCOME EXPENDITURE ON Charitable activity Provision of accommodation 5 TOTAL EXPENDITURE NET GAINS/(LOSSES) ON INVESTMENTS Realised gains/(losses) on investments) Unrealised gains/(losses) on investments 9 NET INCOME/(EXPENDITURE) Transfers between funds 13,14 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Fund Balances at 1 January 2021 13,14,15 Fund Balances at 31 December 2021 13,14,15

The notes on pages 9 to 19 form part of these accounts.

CURRENT ASSETS
Debtors
10
Cash at bank and in hand
LIABILITIES
Creditors: amounts falling due within one		 1,430,248
13,702
29,717
43,419
30,401		 1,563,682
12,566
14,114
26,680
14,699

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ST JOHN'S HOSPITAL, WILTON

13,018 11,981
year 11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
Creditors: amounts falling due after more
than one year 12TOTAL NET ASSETS 1,460,649 1,578,381
15
34,975 35,354
THE FUNDS OF THE CHARITY
Endowment Funds 13 396,519 £1,425,674 414,577 £1,543,027
Unrestricted Funds 214,520 227,524
Designated 14
General 14 814,635 900,926
BALANCE SHEET AS AT 31 DECEMBER 2022
Notes 2022 2021
FIXED ASSETS
Tangible assets
Housing land and buildings 8 457,108 473,611
Investments 9 973,140 1,090,071
611,039 642,101
TOTAL CHARITY FUNDS £1,543,027 £1,425,674
-

These financial statements were approved by the Trustees on 8 August 2023 and signed on their behalf by:

....S Cowlam................................
Trustee .........R Fawcus.................... Trustee

The notes on pages 9 to 19 form part of these accounts.

Page 9

ST JOHN'S HOSPITAL, WILTON

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1. PRINCIPAL ACCOUNTING POLICIES

The financial statements of the Charity are prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective from 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice. The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. These financial statements are drawn up on the historical cost accounting basis except that investment assets are carried at market value. The charity constitutes a public benefit entity as defined by FRS 102. A summary of the more important accounting policies is set out below. Preparation of the accounts on a going concern basis

The trustees consider that demand for the charity's accommodation plus investment income will continue to produce sufficient revenue, so there are no material uncertainties about the Charity's ability to continue as a going concern. The global pandemic of COVID-19 had limited financial impact on the Charity in the year to 31 December 2022. The most significant areas of judgement are the non capitalisation of replacement of fixtures and fittings within the properties and key assumptions that affect items in the accounts are to do with estimation of the useful economic life of buildings, furniture, office equipment, IT equipment. With respect to the next reporting period, the year ended 31 December 2023, the most significant areas of uncertainty that affect the carrying value of assets held by the Charity are the estimated life of the buildings and the level of investment return and the performance of investment markets. On this basis, the trustees consider it appropriate to prepare the financial statements on a going concern basis.

a) Cash flow

The accounts do not include a cash flow statement because the Charity, as a small reporting entity, is exempt from the requirement to prepare such a statement.

b) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees at their discretion for particular purposes.

Endowment funds are permanent trusts whose income is intended for the benefit of the charity.

Transfers between funds are made in accordance with the requirements of the Charity Commission Schemes and Recoupment Order.

Restricted funds hold funds that can only be applied for particular purposes within the objects of the charity.

c) Income

All income is recognised once the charity has entitlement to the resources, it is probable that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.

Income from the provision of accommodation represent maintenance contributions receivable, after deduction of voids. Such income is recognised when receivable.

Investment income is accounted for when it becomes due for payment. All investment income arising on endowment funds is unrestricted as to its use.

Since 1 September 2003 the charity has employed a warden, the costs of which are shared with the College of Matrons, another almshouse in the Salisbury area. The annual costs are calculated in arrears, of which Matrons' College contributes 40%, this being the same ratio as the ownership of the flats under the warden's supervision. The charity also recharges to Matrons' College shared housing costs. Recharged shared costs are recognised as income when the corresponding expenditure is recognised.

Page 10

ST JOHN'S HOSPITAL, WILTON

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

d) Expenditure

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

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure on the charitable activity includes those costs associated with the objects of the Charity and therefore includes the costs necessary to maintain the Almshouse for the residents and associated support costs. Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs have been allocated between Management Support Costs and Governance costs.

Governance costs are those incurred in connection with public accountability of the Charity and compliance with constitutional and statutory requirements.

The clerk's fees are apportioned 50:50 between Governance and Management Support Costs in approximate proportion to the work involved .

e) Cyclical Repairs and Maintenance

St John's Hospital has established a regular programme of cyclical repairs and maintenance. Costs are charged to the Revenue Account in the year in which they are incurred.

f) Extraordinary Repairs

Costs of Extraordinary Repairs, unless representing major improvements to the properties, are charged to the Revenue Account in the year in which they are incurred.

g) Housing Properties

St John's Hospital was largely reconstructed in the twentieth century but the chapel and site were used for almshouses since 1195. There is no record of the original cost so a nil value has been capitalised. The original buildings are historic, and form part of the endowment. The users of the accounts are principally the Trustees who consider the cost of carrying out a professional valuation to include these assets at a value in the accounts to be considerable compared to the limited additional benefit derived by the users of the accounts.

The cost of Housing Properties represents improvements carried out since 1985, valued at cost, which were funded by a grant from the Housing Corporation, a mortgage loan from the Housing Corporation, now with Royal Bank of Scotland, secured by a charge on housing land and buildings, and from the Charity's own resources.

New almshouses costing £405,949 were built in 1997, of which £226,000 was endowment capital, to be recouped over 50 years.

h) Fixed Asset Investments

Fixed asset investments are a form of basic financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date. Investment gains and losses, whether realised or unrealised, are shown under the heading 'Net gains/(losses) on investments' in the Statement of Financial Activities.

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

i) Capitalisation of Interest

Page 11

ST JOHN'S HOSPITAL, WILTON

Interest on the mortgage loan financing a development is capitalised up to the date of practical completion of the scheme.

j) Depreciation

Depreciation is charged to write off the cost of tangible fixed assets, less their estimated residual value, over their expected useful lives. All freehold properties are being depreciated at the rate of 2% per annum on cost. In accordance with the applicable Charity Commission Schemes, depreciation is charged against the reserves which were used to fund the costs. It is therefore shown against the appropriate columns in the Statement of Financial Activities.

The Trustees have a policy of non-capitalisation of capital expenditure costing less than £2,000 and

replacement of components, fixtures and fittings in the accommodation are written off as repairs. k) Impairment

Reviews

The Trustees consider that the recoverable amount of tangible fixed assets exceeds the net book value disclosed in the accounts so an impairment review is not required.

l) Value Added Tax

St John’s Hospital is not registered for Value Added Tax. In these accounts, where applicable, expenditure is shown inclusive of VAT.

m) Taxation

St John’s Hospital is a registered Charity and is therefore exempt from liability to taxation on its Income and Capital Gains.

n) Debtors

Debtors are measured at the amounts the charity anticipates it will receive from a debt or the amount it has paid in advance for goods or services.

o) Cash at bank and in hand

Cash at bank and in hand includes cash and cash on deposit with a short maturity of three months or less.

p) Liabilities

Liabilities are measured at the amounts the charity anticipates it will pay to settle a debt or the amount it has received in advance for goods or services.

q) Financial Instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. They are recognised at amortised cost, except for investments which are measured at fair value with changes recognised in the Statement of Financial Activities.

r) Pensions

Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity contribution is restricted to the contributions disclosed in note 7. There were no outstanding contributions at the year-end. The costs of the defined contribution scheme are included with the associated staff costs and allocated therefore to raising funds, charitable activities, support and governance costs and charged to the unrestricted funds of the charity.

The money purchase plan is managed by NEST (National Employment Savings Trust). The charity has no liability beyond making its contributions and paying across the deductions for the employee’s contributions.

Page 12

ST JOHN'S HOSPITAL, WILTON

NOTES TO THE ACCOUNTS (CONTINUED)

2.
3.
4.
5.		 INCOME FROM INVESTMENTS
Interest on cash deposits
Income from listed investments
INCOME FROM CHARITABLE ACTIVITY
RESIDENTS' CONTRIBUTIONS
St John's Square
at £435 x12 months
(2021 - 1 at £425 x 1 month & £435 11 months)
at £435 x12 months
(2021 - 1 at £425 x 1 month & £435 11 months)
at £455 x12 months
(2021 - 1 at £445 x1 month & £455 x 11 months )
1 Warden at nil
St John's Priory
at £410 x 12 months
(2021 - 13 at £400 x 1 month & £410 for 11 months)
at £440 x 12 months
(2021 - 3 at £430 x 1 month & £440 for 11 months)
Total contributions
Less:
Voids
INCOME FROM OTHER SOURCES
Contribution to cost of warden and share of joint housing costs
BREAKDOWN OF COSTS OF CHARITABLE ACTIVITY
THIS YEAR 2022
Endowment
funds
Housing services
-
Repairs and maintenance (before insurance claims) -
Interest payable (Housing Corporation loan)
Depreciation of housing properties
4,520Support
Costs:
Management expenses (clerk, office)
-
Depreciation of office
-
Governance costs
-
£4,520
Unrestricted funds
2021
2
18,204
17,606
£18,263
£17,608
Unrestricted funds
2022
5,220
5,220
5,460
-
15,900
63,960
15,840
95,700
(7,070)
£88,630
2021
5,210
5,210
5,450
-
15,870
63,830
15,810
95,510
(5,835)
£89,675
Unrestricted funds
2021
31,571
27,277
£31,571
£27,277
Unrestricted funds
Designated General Totalfunds funds
2022
73,339 73,339
24,457 24,457
3,863 3,863
11,025 - 15,545
8,524
8,524
-
958
-
12,200
12,200
£11,983
£122,383
£138,886

Page

13 ST JOHN'S HOSPITAL, WILTON

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022 FOR THE YEAR ENDED 31 DECEMBER 2022

----- Start of picture text -----
79,800 79,640
----- End of picture text -----

Page 14

5.

ST JOHN'S HOSPITAL, WILTON

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

BREAKDOWN OF COSTS OF CHARITABLE ACTIVITY (Continued)

LAST YEAR 2021
Housing services
Repairs and maintenance (before insurance
claims)
Interest payable (Housing Corporation
loan) Depreciation of housing properties
Support Costs:
Management expenses (clerk, office)
Depreciation of office
Governance costs
Governance costs comprise:
Independent Examiner's Remuneration
In their capacity as Examiners
Endowment
funds
-
-
4,520
-
-
-
£4,520
Accountancy fees for preparation of the statutory accounts
Clerk's Fees (½)		 Unrestricte
Designated
funds
-
-
11,025
-
958
-
£11,983
 Unrestricte d funds
General
funds
69,571
60,494
3,898
-
8,305
-
11,850
£154,118
2022
1,410
3,590
7,200
~~£12,200~~		 Total
2021
69,571
60,494
3,898
15,545
8,305
958
11,850
£170,621
2021
1,380
3,520
6,950
~~£11,850~~

6. TRUSTEES' REMUNERATION

None of the Trustees received any remuneration, or reimbursed expenses or benefits for acting as Trustees, but the Rector of Wilton Parish Church, one of the Trustees, is entitled to receive an honorarium as he is also Chaplain to the Hospital. This honorarium is paid to Wilton Parochial Church Council and does not benefit the Rector personally. Legal authority for payment of a Chaplain is set out in the 1978 Scheme.

The honorarium for 2022 was £2,500 (2021- £2,500).

7. STAFF COSTS

STAFF COSTS
Salaries and wages
Social security costs
Pension costs		 2022
16,995
-
318
£17,313		 2021
16,398
-
300
£16,698

No employee earned £60,000 per annum or more.

The average employee headcount during the year was 1 (2021 - 1). The employee also received rent free accommodation on site.

The charity considers its key management personnel comprise the trustees and the Clerk. The total employment benefits of the key management personnel was £nil (2021: £nil). The total fees (not included in staff costs) paid to the key management personnel was £14,400 (2021 - £13,900). An Ex-gratia bonus of £781 was paid in December 2022 ( 2021: £781).

St John's Square and St John's

Clerk's

New

Page

15 ST JOHN'S HOSPITAL, WILTON

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022 DECEMBER 2022
Priory Almshouses Office Total
Cost
At 1 January 2022 371,331 405,949
 47,902 825,182
Additions - -
 - -
At 31 December 2022 371,331 405,949 47,902 825,182
Depreciation
At 1 January 2022 163,384 178,607
 9,580 351,571
Charge for the year 7,427 8,118 958 16,503
At 31 December 2022 170,811 186,725 10,538 368,074
NET BOOK VALUE
At 31 December 2021 £207,947 £227,342 £38,322 £473,611
8.
TANGIBLE FIXED ASSETS - HOUSING LAND AND BUILDINGS (FREEHOLD)
At 31 December 2022 £200,520 £219,224 £37,364
£457,108

The cost of St John's Square and St John's Priory represents the cost of redevelopment since 1985 which was funded by a Housing Corporation Grant of

£235,252 (see Note 18) and Residential Mortgage

Loan, (now £34,975, see Note 12), repayable with interest calculated at 10.875% per annum over 60 years from 1 October 1985. The balance was provided from St John's Hospital's own resources.

Interest costs of £22,923 were capitalised whilst St John's Square and St John's Priory were under development and are included in the cost of £371,331.

In 1996, the Trustees of St John's Hospital and The College of Matrons signed agreements for the construction of 18 new almshouses on land at Wilton, the costs of construction to be shared as to 1/3 : 2/3 respectively. The project was ready for occupation in November 1997. The cost of the new almshouses shown above represents St John's one third share. A recoupment fund has been set up to recoup £226,000 of endowment capital spent on the building project, over a period of 50 years.

The almshouses and Chapel are insured for £5,216,625.

Page

16 ST JOHN'S HOSPITAL, WILTON

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

9. FIXED ASSETS INVESTMENTS

UK Investments in Collective Investment Funds

At market value at 1 January 2022
Additions
Disposals at opening value
Unrealised investment gains / (losses)
At market value at 31 December 2022
Historical cost		 Endowment funds
Recoup-
Permanent
ment
Endowment
Fund
444,642
329,722
-
-
-
-
~~(52,109)~~
~~(29,662)~~
£392,533
£300,060
~~£79,899~~
~~£112,120~~		 Endowment funds
Recoup-
Permanent
ment
Endowment
Fund
444,642
329,722
-
-
-
-
~~(52,109)~~
~~(29,662)~~
£392,533
£300,060
~~£79,899~~
~~£112,120~~		 Unrestricted funds
Extra-
ordinary
Repair
General
Fund
Fund
67,528
248,179
-
-
-
-
~~(6,075)~~
~~(29,085)~~
£61,453
£219,094
~~£12,634~~
~~£63,555~~		 Unrestricted funds
Extra-
ordinary
Repair
General
Fund
Fund
67,528
248,179
-
-
-
-
~~(6,075)~~
~~(29,085)~~
£61,453
£219,094
~~£12,634~~
~~£63,555~~		 Unrestricted funds
Extra-
ordinary
Repair
General
Fund
Fund
67,528
248,179
-
-
-
-
~~(6,075)~~
~~(29,085)~~
£61,453
£219,094
~~£12,634~~
~~£63,555~~		 Total
1,090,071
-
-
~~(116931)~~
~~,~~
£392,533		 ~~,~~
£300,060		 ~~,~~
£61,453		 ~~,~~
£219,094		 ~~,~~
£973,140
~~£79,899~~ ~~£112,120~~ ~~£12,634~~ ~~£63,555~~ ~~£268,208~~

All investments are carried at their fair value. The basis of fair value for unlisted common investment funds is equivalent to the market value, using the bid price. All investments are charitable common investment funds, namely the CBF Church of England Investment Fund and COIF Charities Investment Fund. The main risk to the

10.
DEBTORS
Residents' Contributions
Prepayments
Matrons' College - contribution to warden/shared housing costs
 2022
5,022
6,002
2,678
£13,702		 2021
5,432
4,876
2,258
£12,566
11.
CREDITORS: Amounts falling due within one year
Housing Corporation loan

Independent examination and accountancy accrual

Housing Corporation loan interest accrual

Other accruals
 2022
379

1
5,000

0
960

0
6,679
£13,018		 2021
34
4,90
97
5,770
£11,981

Charity from financial instruments lies in the combination of uncertain investment markets and volatility in yield.

Page

17 ST JOHN'S HOSPITAL, WILTON

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

CREDITORS: Amounts falling due after more than one year 2022 2021
Housing Loan £34,975 £35,354
Maturity
Due in less than one year 379 341
Due in more than one year but less than five years 1,989 1,790
Due in more than five years 32,986 33,564
£35,354 £35,695

12. CREDITORS: Amounts falling due after more than one year

This Housing Loan due to the Royal Bank of Scotland (formerly due to the Housing Corporation) is secured by a first legal charge on St John's Hospital's housing land and buildings. The mortgage is repayable by equal instalments of principal and interest, the final instalment falling due on 30 September 2045. The interest rate is 10.875% p.a.

13. MOVEMENTS ON ENDOWMENT FUNDS

THIS YEAR 2022

THIS YEAR 2022 THIS YEAR 2022 THIS YEAR 2022
Recoupment Fund
Permanent Endowment
£(81,771)
£
-
Gains and
(losses)
Transfers
48,467
5,000
55,897
-
£104,364
£5,000
LAST YEAR 2021
Recoupment Fund
Permanent Endowment		 Balance
01.01.2022
329,722
571,204		 Income
-
-		 Gains and
Expenditure
(losses)
-
(29,662)
(4,520)
(52,109)		 Balance
Transfers
31.12.2022
-
300,060
-
514,575
£(4,520)£814,635
BalanceBalance
Expenditure31.12.2021		 Balance
31.12.2022
300,060
514,575
Gains and
(losses)
48,467
55,897
£104,364
£900,926 £- 520)£814,635
01.01.2021 Income
276,255
519,827		 -
-		 -329,722
(4,520)571,204
£(4,520)£900,926
£796,082 £- 520)£900,926

A Recoupment Fund was set up in 1997 to recoup the £226,000 endowment capital spent on the building of the 6 new St John's Hospital almshouses over a period of 50 years at minimum of £4,520 per annum.

14. MOVEMENTS ON UNRESTRICTED FUNDS

Page

18 ST JOHN'S HOSPITAL, WILTON

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

THIS YEAR 2022

THIS YEAR 2022 THIS YEAR 2022
Designated funds
Extraordinary Repairs Fund
Charitable Fund Property
Reserve
General fund		 Balance
01.01.2022		 Income Expenditure Gains and
losses		 Transfers Balance
31.12.2022
67,528
347,049		 -
-		 -
(11,983)		 (6,075)
-		 -
-		 61,453
335,066
414,577
227,524		 138,464
-		 (122,38
(11,983)		 3)
(29,08
(6,075)		 5)
-
-		 396,519
214,520
~~£642,101~~ £138,46 4 £(134,36 6) £(35,16 0)
-
£
~~£611,039~~

14. MOVEMENTS ON UNRESTRICTED FUNDS (Continued)

LAST YEAR 2021

LAST YEAR 2021 LAST YEAR 2021
190,883
134,560
(154,118)
£636,722 £134,560 £(166,101)
Balance
01.01.2021
Income
Expenditure
Designated funds
Extraordinary Repairs Fund
86,807
-
-
Charitable Fund Property
359,032
-
(11,983)
Reserve
445,839
-
(11,983)
General Fund		 Balance
01.01.2021
86,807
359,032		 Income Expenditure Gains and
losses		 Transfers Balance
31.12.2021
67,528
347,049
-
-		 -
(11,983)		 10,721
-		 (30,000)
-
190,883
445,839		 134,560
-		 (154,118)
(11,983)		 31,199
10,721		 25,000
(30,000)		 227,524
£642,101
414,577
£636,72 2 £134,56 0 £(166,10 1) £41,920 £(5,000 )

Extraordinary Repairs Fund

This Revenue Reserve represents amounts set aside to carry out major repairs on Housing Properties.

Charitable Fund Property Reserve

Charitable Fund Property Reserve is the part of the Unrestricted Funds represented by the tangible fixed assets owned and used by the Charity on an on-going basis.

A transfer of £172,915 in 2016 from General Fund to Charitable Fund Property Reserve was to increase the balance on the Charitable Fund Property Reserve to equate to the carrying value of all the properties (except those belonging to the Endowment fund).

Investments
Debtors
Cash at bank and in hand
Creditors < 1 year
Creditors > 1 year		 122,042
-
335,066
-
457,108
692,593
61,453
-
219,094
973,140
-
-
-
13,702
13,702
-
-
-
29,717
29,717
-
-
-
(13,018)
(13,018)
-
-
-
(34,975)
(34,975)
£814,635
£61,453
£335,066
£214,520
£1,425,674

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

At 31 December 2022
Endowment
Funds
Designated funds
General
Fund
Extraordinary
Repair
Charitable
Fund		 Total

Page

19 ST JOHN'S HOSPITAL, WILTON

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

Housing Land & Buildings
New Almshouses
Clerk's Office
Fund
-
-
-
Property
Reserve
200,520
97,182
37,364
126,562
-
347,049
-
Fixed Asset Investments
774,364
67,528
-
248,179
Debtors
-
-
-
12,566
Cash at bank and in hand
-
-
-
14,114
Creditors < 1 year
-
-
-
(11,981)
Creditors > 1 year
-
-
-
(35,354)
£900,926
£67,528
£347,049
£227,524
FINANCIAL INSTRUMENTS
Financial assets measured at fair value through profit and loss:
Notes
2022
Investments held at fair value
9
973,140

£973,140
Financial assets that are debt instruments measured at amortised cost:
Trade debtors
10
5,022

2
Other debtors
10
2,678

8
Cash at bank and hand
29,717

4
£37,417
Financial liabilities measured at amortised cost
Bank loan (formerly Housing Corporation loan)
11,12
35,354
Accruals
11
12,639
Income, expense, gains or losses, including changes in fair value, recognised on:
£47,993
Gains/(Losses) on Financial assets measured at fair value
9
(116,931)
Interest on cash deposits
2
59
Income from listed investments
2
18,204
Interest payable
(3,863)
-
£ (102,531)
15. ANALYSIS OF NET ASSETS BETWEEN FUNDS (Continued)
At 31 December 2021
Housing Land & Buildings
New Almshouses
Clerk's Office
Endowment
Funds
-
126,562
-
Designated funds
General
Fund
-
-
-
Extraordinary
Repair
Fund
-
-
-
Charitable
Fund
Property
Reserve
207,947
100,780
38,322		 473,611
1,090,071
12,566
14,114
(11,981)
(35,354)
£1,543,027
2021
1,090,071
£1,090,071
5,43
2,25
14,11
£21,804
35,695
11,640
£47,335
145,595
2
17,606
(3,898)
-
£159,305
Total
207,947
227,342
38,322

Page

20 ST JOHN'S HOSPITAL, WILTON

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

17. CAPITAL COMMITMENTS

At 31 December 2022 there were no contracted capital expenditure commitments (2021 - £nil). Recoupment Fund contributions to recover endowment capital expended on the six new St John's Hospital almshouses will cost £4,520 pa for 50 years from 1997 to 2047.

Page 21

ST JOHN'S HOSPITAL, WILTON NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

18. CONTINGENT LIABILITY

Housing Association Grant of £235,252 received from Housing Corporation towards the cost of redevelopment of St John's Square and St John's Priory is repayable under certain circumstances, primarily following the sale of a property, but will normally be restricted to net proceeds of sale.

19. RELATED PARTY TRANSACTIONS

There were no related party transactions during the year.