GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY ACCOUNTS 31 MARCH 2023
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY FOR THE YEAR ENDED 31 MARCH 2023 Index to the Accounts Pagg Report of the trustees Accountants. report on the un8udlled accounts Statement ol comprehensive income including income and expenditure account ststement ol changes in reserves Balance sheet Statemenl ol cash flows 10 Notes lo the accounts Detailed income and expenditure account 19
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 The Trustees of The Fisherman Hospital Charity present their report and accounts for the year ended 31 March 2023. Roference and Administration Information Charity Name: The Fishermen's Hospitsl Charity Charity Registration Number.. 256680 Regulator of Social Housing number: A3486 Registered office: No. 8 Fishermen's Hospital Church Plain Great Yarmouth Norfolk NR30 1ND Trustees- Mrs P Hollis - Chairman Rev P Paine - Vice Chairman Mr J Holmes - Treasurer Councillor K Robinson-Payne Rev Canon S Ward Ms P Darby-Lillle Iresigned 26 March 20231 Mrs P Linden {resigned 21 May 2022) Councillor M Jeal Councillor C Cordiner-Achenbach Councillor D Hammond Ms P Ashbourne Clerk to the Trustees.. Mrs J Smilhson Bankers.. Lloyds Bank Market Place Great Yarmouth Norfolk NR30 1 PA Accountant.. Lovewell Blake LLP Chartered Aecountanls Bankside 300 Peachman Way Broadland Business Park Norwich Norfolk NR7 OLB
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HCSPITAL CHARITY REPORT OF THE TRUSTEES {CONTINUEOI FOR THE YEAR ENDED 31 MARCH 2023 Objectives and activltles The Charity owns and runs the fomier Fisherman's Hospital which consists of nine Ajmshouse Cottages on Market Place. Great Yamoulh situated round a central couttyard. The whole property is a GraJe 1 listed building. Public benefit The Twstees have taken due regard lo the guidance published by the Charity Commissior on public benefit. They considered the charity provides a public benefit through the provision of low cost housiig to the residents of Great Yaimouth. Achlevements and performance The annual review of the weekly maintenance contribution was discussed at the November Maeling of Trustees. and il was decided not to make an increase this year owing lo a ch8rge for gas introduction from 2023 per cottage of £250.00 for 10 months. This was necessary as the cheapest now gas contract is £28.000 compared to under £5,000 for 12 months previously. The war in Ukraine, caused by Russia, has affected world gas charges. The Vice Chairman Reverend Peter Paine handled a difficult process as residents have had gas included for many years. Electricity is still included. Eight Gottages have been occupied until December 27th when our resident of 7 years wa? found dead. His eyesight was very poor and general health deteriorating, and we were keeping 8 close eye or. the situation. The wall had been replaced in the bedroom plus some intemal decoration and deep cleaning provided by Relief In Need. We organised his funeral with his friend, which was taken by the Vice Chairman Revd. Peter Paine at the Cremaloriurn and as he had saved money whilst on full benefits and has an estranged son a Solicitor has implemented 'A Trace" and the son located. We are awaiting developments. This cotlage is having a new bathroom owing to the poor state and the cotlage has been re-letfrom June 2023 to a widow who has connections to the sea. Heritage Open Days were again very successful and lots of visitors enjoyed seeing the collace (our Office) anij learning a slice of local history. The event was organised by The Clerk, Chairman and Trusletss. William Booth. who voluntarily continues to support with our website and finance. helped us obtain prior bookings for the talks. st. Nicholas Priory children have given cards lo the residents of Christmas and Easter whicP they appreciated as some have no close family and few friends. Carol Singing in the Coutyard was enjoyed on a cold night, and we were pleased that the DeFuty Mayor, Penny Carpenter, was able lo join us and stayed for Mulled Wine and Mince Pies. The Front Elevation of the Fishemian's Hospital was Gompletely repaired and painted in Sep1ember. We have received a Grant towards this from Great Yarmouth Borough Council Heritage Action. The brickwork above the historic plaques has been repaired and again w8 have received a Grant. We have also been told that a repair to a rotten window facing Temple Road from cottage number 4 plus a shed door will receive a C(trIbUtIon. Car Parking in front of The Fishermen's Hospital is no longer on the radar for Traffic Vlardens and has unfortunately been abused and caused problems with insufficienl parking available for residents. tradesmen. The Cler1( and Chairman. Cars have been badly damaged. We are in contact with GYBC and are hoping for control of this area. The auinquennlal Survey took place September and roof tiles, deteriorating brickwork, damp in some cottages elo. has been identified and needing allention and are on our"To Do. list.
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Achlevements andperformance (continued) Two Community Trustees have resigned this year. Trustees are using a large room at the Town Hall for Meetings owing to COVID-19. Joanne organised and accompanied the Chalrman on talks on The Fishermen's Hospital tj Ladies Group in the Lowestoft area which were greavy appreciated. Joanne Smilhson, our Clerk. has once again given exemplary seNice to the trustees and scored highly at her the second Appraisal. She has been advised lo claim fuel for her car when travelling Specifical for Charty work. A ieview of her pay is due. COVID-19 is still around although life has become more normal. One resident of The Fisherm&n's Hospital, who refused vaccinalion, reported suffering from COVIO-19. We were pleased that all, but one, of the residents all of whom have had vaccinations did not report catching the Virus. The one who did catch il is Naiting for a triple bypass operats'on which has been delayed by the NHS strikes. The Clefk and Trustee Pat Ashbourne unfortunately went down with Covid during the Heritsge Open Days in September 2022. Flnancial revigw Eight cottages were let, providing incorne of £45.021 12022.. £35,627). Expenditure for the year tot8lled £40,912 {2022.' £29,867) including repairs of £11,721 12022.. £10.083). After other income of £6,215 {2022.. £4,836) and losses on the revaluation of investments of £3.96812022: gains of £13.6001 the charity generated net surplus for the year of £6,357 {2022.. £24.196}. Investment policy It is the Trustees policy to invest the funds of the Charity, including the endowment fund. for long term capital growth whilst also seeking an income 51ream as 8 contribution towards the running costs of the Charity. The investments are held in COIF Income Shares, the Charinco Income Fund and COIF Accumulation units. ReseNes policy General Fund The Charity recognises the need to have sufficient funds in reserve Teadily available as or coivertible into cash to cover day to day expenditure. especially in the event that there 15 a reduction in weekty maintenance charge income following the departure of residents pending new residents being appointed. It is the pol'cy of the Trustees to spend available funds on the maintenance and repair of the Amshouse Cottages and they have no intention lo build up a significant level of free reserves. Restricted funds are excluded from Resetves but the nature and amount of any such funds may impact upon the Reserves Policy. This policy has been prepared while considering the risks. such as general maintenance and the need to employ crats people sympathetic to thè fabric of a Grade I listed building, constructed in 1702.
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Financial revlew (contlnued) Extraordinary Repair Fund This restricted fund will be used for future major expenditure. Transfers will be rnade from the Income and Expenditure Account. The fund is invested in accumulation shares and preferably in a Common Investment Fund. 11 can be drawn upon to meet major items of repair. Cyclical Maintenance Fund This designated fund, to which transfers are made from the Incorne and Expenditure Account. will be used to meet maintenance costs occurring at gUlar intetvals e.g. refurbishing kitchens and bathrooms. interior and exterior redecoration and Ihe cost of professional fees such as for Quinquennial Inspections. The stsrting point for calculating Reserves will normally be the tjnrestricted funds, however part of these may not be readily available for spending and may be excluded from Reserves - tangible fixed assets. The Charity had free reserves {unrestrlcted fund) as at 31 March 2023 amounting to £78,71512022'. £65,541). The Charity also had reSeaS amounting to £6.669 12022- £6,124) in the Extraordinary Repair Fund and £107,484 12022.. £110.808} in the Endowment Fund. The total net assets of the Charity amounted to £295.100 {2022.' £288,743}. The Charity will consider the Almshouse Association's recommer¢ded minimum amounts br transfer to the Extraordinary Repairs Fund and the Cyclical Maintenance Fund each year. The level of reserves will be kept under review throughout the year by the Trustees. Fr&ehold property The freehold property was valued by Messrs Adreds, Ch8rtered Surveyors. on 19 September 2016, as a single entity, on the basis of open market value with vacant possession at a figure of £500.000. The p'operty is included in the balance sheet at a Gost of £102.232. Value for Money The Regulator of Social Housing IRSHI has published a value for money stsndard which mus-. be adhered lo by Registered Providers. This includes the need lo publish nine measures in a standard form to enable comparison across the sector, accepting that there will be variances associated with eaGh business's pOleS. strategy and focus. VFM m8tric 1. Reinvestment % 2. New supply delivered {social houslng units Yol 3. New supply delivered Inon-social housing units %} 4. Gearing Vo 5. EBITA MRI interest Gover % 6. Headline social housing cost per unit £ 7. 0?erating margin (social housing) /. 8. Operating margin loveralll Q 9. ROCE QA 2023 11.5 2022 (46.61 NIA 1,465 24.4 17.3 ',34.6} NIA .260 29.6 22.8
GREAT YARMOUTH MUNICIPAL CHARMES THE FISHERMEN'S HOSPITAL CHARITY REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 FinanciTal rewiew (contlnued) Govornance and Financlal Vlablllty The Trustaas are committed lo achieviwJ good governanGe and being an effective provider ofservices. meeting both regulatory codes and standards. Plans for thg future Th8 future activities will continue to be Ihe operation of Almshouse Collages. Structure. Governance and Managernent GoVning instrument The Charity is registered with the Charity Commission and the Regulator of Social Housing. It is administered by Great Yarmouth Municipal Charities Trustees. The Charity is a member of the Housing Corporation Ombudsman Scheme. The Charity'Nas created by deed sealed on 11 January 1984. 11 incorporates the former Fishemien's Hospital Charity which was administered by the Great Yarmouth Municipal Charities together with he CharFly of Mrs Elizabeth Blennerhassett and the Charity known as Benjamin Jollys Gift, both of which were administered by the Great Yarmouth Borough C¢JJncil. Recruitment and appointment of commiltee members The Trustee board should Gonsisl of gleven members, comprising one EXffici0 Trusleq four Nominative Trustees, and six C0P1ed Trustees. The Nominative Trustees are appointed by the Great )'armouth Borough Council. The Co-opted Trvslees are those who through residence, occupation or employment, or olhenNise have special knowledge of Great Yamiouth. Elections lake place annually al the Annual General M?eling. Al the date of approval the board comprised eleven members as listed on page 1. Organisational structure The Municipal Charities are run by 8 group of volunteer Trustees. of which some belong to tho local council and so may change due lo the outcome of a local election. As well as the volunteers there is a paid Clerk who manages the paperwork and liaises with the accour)tants and local authority. Risk assessmenl The Trustees are aware of the Charity Commission recommendation to review the risks appli(xbla to the Charity and this exercise was last reviewed in February 2019. Related Parties This charity B connected with Great Yamiouth Relief in Need. The two charities have commij) trustees and are administered Gommonly at the same rIStered office. The only transaction belween the charities is the payment of rent from Great Yarmouth Relief in Need to the charity for use of ils administrative facilitie>. The trustees do not consider it appropriate to Gonsolidatè the results as the charities have dlfferent objectives. Accountanls Lovewell Blake LLP are willing to continue as accountants for the charity- Signed on behalf of the Trustees on 4 September 2023. Mr8 P Hollis Rev P Paine
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY ACCOUNTANTS REPORT TO THE BOARD ON THE uNAUDED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 We report on the accounts for the year ended 31 March 2023 set out on pages 7 to 18. Respective responslbllltles of the Board and reporting accountant The Board ofthe Registered Social Housing Provider is responsible for the preparation of the accounts, and they consider that the Registered Social Housing Provider is exempl from an audit. It is our reSpOlbilitY to carry out procedures designed to enable us to report our opinion. Basis of opinion Our procedures Gonsisted of comparing the accounts with the books of account kept by the Registered Social Housing Provider and making such limited enquiries of the officers of the Registered Social Housing Provider as we considered necessary for the purpose of this report. These pro¢edures provide the only as¢¥JranGe expressed in our opinion. Oplnion In our opinion: the accounts for year ended 31 March 2023 are in accordance with the accounting records kept by the Regislered Social Housing Provider under paragraph 13512}lal of the Housing and Regeneration Act 2008". having regard only lo, and on the basis of the information contained in the accounting recc)rds.' the accounts comply with the requirements of the Charities Act 2011- the Registered So¢ial Housing Provider has satisfied the conditions for exemption from an audit of the accounts for the year ended 31 March 2023 specified in section 136161 of the Housingand Regeneration Act 2008., the accounts comply with the requirements of Housing and Regeneration Act 2008 and the Accounting Direction for private registered providers of social housing in England 2022. Bankside 300 Pe8chman Way Broadland Business Parl( Norwich Norfolk NR7 OL8 Lovewell Blake LLP Chartered Accountants 2910912023
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GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 MARCH 2023 Notes 2023 2022 FIXED ASSETS Tangible Investments 10 102,232 148483 102,232 152 451 250,715 254.683 CURRENT ASSETS Sundry debtors Cash al bank 12 1.167 42,208 1.109 29,972 - current account deposit account CURRENT LIABILITIES Creditors 13 FUNDS Unrestricted Reslricled Endowment 15 15 15 180,947 6,669 107 484 171.811 6,124 110808 Approved by the Trustees on 4 September 2023. Mrs P Hollis Rev P Paine The notes set out on pages 10 to 17 form an integral part of these accounts.
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 Notes 2023 2022 Net cash Inllow from operating activitigs 17 9,701 7.894 Cash flow from Investing activitigs Dividends received Net cash flow from investing activities Net In¢reas• in cash and cash equivalents 12.236 10.356 Cash and cash equivalents at l April 2022 Cash and cash equivalents at 31 March 2023 Cash and cash equivalents conslst of: Cash at bank and in hand The notes Set out on pages 10 to 17 form an integral part of these accounts. 10
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng Policies The principal accounting policies adopted, jud9ements and key sources of estimation uncertainty in the Preparation of the financial stalernents are as follows= (al Basis of Accounting The accounts have been wepared in accordance with applicable accounting standards including the Financial Reporting Standard applicable in the United Kingéom and Republic of Ireland {FRS 1021, the Stslement of Recommended Practice for Social Housing Providers 2018. and with the Accountlng Dlrection for Private Registered Providers of Social Housing in Englaid 2022. The accoLtnts have also been prepared under the requirements of the Housing and Regeneration Act 2008. The accounts have been prepared on 8 going concern basis under historical cost convention. ex¢ept for the revaluation of investment assets. The charity Gonstitutes a publlc benefit entity as defined by FRS 102. Ibl G8n8ral Infomialion The Fishernn'S Hospital Charity is an unincorporatetl charity and a private regislered Provider of Social Housing in the United Kingdom. The address ofthe registered office is given in the refèrence and administration information on page 1 of these accounts. The nature of the registered providers operations and principal activilies are set out on page 2 of Ihese accounts. (c) Fund accounts'ng Unrestricted funds are 8v8ilable for use at the discretlcx) of the trustees in furtherarica ol the general obj8clives of the charity. Restricted funds are subjected lo restrictions on their expenditure imtx)sed by the donoi or through the lems of an appeal. Revenuts and expenditure cannot be direclly set against reslrited reserves bul is taken through the statement of comprehensive incomp and then a transfer to restricted reserves is made as appropriate. Endowment funds are those reserves which are only expendable In accordance wilh tha wishes ofthe funder or regulatory body. (dl Tumover Tumover is measured at the fair value of the Considerati received or receivable. The policies adopted for the recognition of Iufnovtsr are as follows.. Turnover represents renlÈl and service charges income receivable in the year nel ol rent and service charge losses from voids, revenue grants from the governrnenl (local aulhoriliesl. 11
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 {el Expnditure Expenditure is reco9nised on an accrual basis as a liability is incurred. Expenditure ncludes any VAT whieh cannot be fully recovered. and is reported as part of the expenditure to which il relates.. .Operating expenditure comprise those costs incurred by the charity in the deliVY of ils activities and setvices for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary lo support them. Administration expenditure includes those costs assoeiated with meeting the administration and stslutory requirements of Ihe charity and includes the a¢countanl fees and ci%ts linked lo the strategic management of the charlty- All costs are allocated befvjeen the expenditure categories of the Slatement ol Comprehensive Income on a basis designed to refle¢t the use of the resource. io Investment income Bank interest is included in the income alld expenditure account on an accruals basis. Dividends are included in the income and expenditure account when they are received. Ig) Fixed assets Housing land and buildings The trustees regard the building held by the Charity as an inalienable asset dueto being a Class 1 Listed building and thus no depreciation or amortisation charge is provided. Equipment is depreciated 8t a rale of 1 Oyo slraighl line. (h) Investmenl policy Investments are included in the accounts at their market value at the year end. Any surplus or deficit arisirrtJ on the revaluation or disposal of the investments is ¢dited or debited to the Statement of Comprehensive Income. Debtors and creditors receivable /p8yable wlthin one year Debtors and creditors with not stated interest rale and receivable or payable wilhin one year are recorded at transaction price. Any losse$ arising from impairment are recognisej in expenditure. lil Cash at l)ank Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less. {k) Gng concem The financial statements have been prepared on a going concern basis, as the Tru51ees believe that no material uncertainties exist. The Trustees have considered the level of fLnds held and the expected level of income and exndituTe for 12 months from aulhorisins these financial statements. The budgeted income and expenditure Is sufficient with the level ol reserves for the charity to be able to continue as a going concern. The trustees have cons¢depd the Impact of Covid-19 in making this assessment. 12
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDEO 31 MARCH 2023 Soclal Housing turnovgr and cost 2023 2022 Rents and utility contribution receivable Expenditure Operating surplus from Social Housing activities Net surplus from Social Housing activities Void losses Not surplus The net surplus Is stated after charging-_ 2023 2022 Accountancy fees (excluding VAT) Rèntal income During the year the charity provided 812022.. 81 general housing accommodation units. 2023 2022 Rental and ulilily contribution income (nel of voids of £1,33012022.' net of voids of £2.7561} During the years ended 31 March 2023 and 2022 all rentsl income was unrestrided. 2023 Other Sncome 2022 Other income Grants Other donations 800 2.250 631 955 During the years ended 31 March 2023 and 2022 all olher income was unrestricted. Analysis of operating expenditurg Charltable Governance actlvltles ¢osts 2023 2022 Rates Repairs and construction Insurance Utslities Cleaning 179 11,721 1,621 20,000 179 11.721 1.621 20.000 532 1.015 10.083 1,509 11,795 696 Durlng the years ended 31 March 2023 and 2022 all operating expenditure was unrestii¢ted. 13
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 Analysis of adminl$tratlve expenditure Charitable Governance actlvltles costs 2023 2022 Administration Telephone Accountants fee Sundries Membership 2.294 877 2,294 877 1,904 1.141 643 2,355 520 1,350 192 352 1,904 1.141 643 During the years ended 31 March 2023 and 2022 all adminislralive expenditure was uffestricted. Interest receivable and slmllar Income 2023 2022 Dividends During the years ended 31 March 2023 and 2022 all interest receivable and similar was unrestricted. Trustees remuneration and expenses The Trustees did not receive any remuneration and were not reimbursed expenses duriny the year. There are no key management personnel as the charity does not have any employees. The charity is managed by a selfemployed clerk, the cost of which was £2,028 (2022: £1,924) has been included within administrative expenditure. 10. Tangible fixed assets Freehold Land & buildings Equlpment Total Cost At 1 April 2022 and 31 March 2023 110516 Depreciation At 1 ADril 2022 and at 31 March 2023 Net Book Value Al 31 March 2023 Net Book Value At 31 March 2022 All houslng properties are held for lettings purposes. The propety was valued by Messrs Aldreds, Chartered Surveyors. on 19 September 2016. as a single entity, on the basis of open market value with vacant possession at a figure of £500,000. 14
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY NOTES TO TNE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 11. Investments 2023 2022 Market value as at 1 April 2022 Unrealised {lossl on revaluation 152.451 138,851 Market value as at 31 March 2023 Historic cost The portfolio comprlses of the following listed investments.. Holdlng Fund Market Value 4,561.51 units 273.01 units 425.81 units Charities Investment Fund Income Units Charities Inv&%lment Fund Accumulation Units Charinco Common Investment Fund 85.363 62,490 630 The fair value of listed investments has been determined by reference to the quoted priGe for idenlical assets in an active market at the balance Sheet date. 12. Debtors 2023 2022 Other debtors Prepayments and accrued income 626 541 602 507 13. Creditors: Amounts falling due wlthln one year 2023 2022 Accruals and deferred income 14. Taxatlon The charity has no liability to income tax or capital gains tsx. 15
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 21 MARCH 2023 15. ReGonclliation of movement of funds Year ende(J 31 March 2023 UnreslFl¢tÈd Cyfjllcal Extraordlnary General MaInt•n¢9 Ropalr Fund Fund$ Funds Restricted Endowment Fund Funds bfvd 1 April 2022 167.773 Surplus I (Deficill for the year Transfer beeen funds Revaluation of Investment assets 4.038 6,124 110.808 288,743 22,046 18,8721 {11.7211 8.222 10,325 650 539 105 Funds thid 31 March 2023 Tangible Fixed Assets Land and buildings Laundry equipment Investments COIF Charities Investment Fund14,561.51 units} COIF Charities Investment Fund1273.01 unitsl Charinco Common Investment Fund1425.810 units) Current assets Debtors Bank account Current liabilitie5 102.232 102,232 85,363 85.363 62,490 62,490 630 630 1,167 81,989 1.167 47.659 162.4901 6.039 22.121 Funds clftvd 31 March 2023 Year ended 31 March 2022 Unrostrlct•d Cy¢ll¢al Extraordlnary Gènefal Maintenancè Repalr Endowmont Fund Funds Fund5 Fund R¢strfcted Totsl Funds bmwd fj April 2021 Surplus I (Deficill for the year Transfer between funds Revaluation of Investment assets 147,744 7,534 5.536 103.733 264,54T 20.879 {6501 {10,0831 650 87 13601) Funds cthvd 31 March 2022 16
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 15. Reconcillation of movement in fvnds (contlnuèdl Year ended 31 March 2022 Icontinuedl Unrestrlcted RtrIcted Cycllcal Extraordlnary General Malni•nahCè R¢palr Endowment Fun+J Funds Funds Fund Totsl Tangible Fixed Assets Land and buildings Laundry equipment Investments COIF Charities Investment Fund {4.561.51 unitsl COIF Charits'es Investment Fund {273.01 units) Charinco Common Investmenl Fund {425.810 unilsl Current assets Debtors Bank account Current liabilities 102.232 102.232 88,687 88,681 63.029 63,023 735 735 1,109 66,904 1,103 35,423 158.9911 5.389 22,121 Funds clfwd 31 March 2022 The purpose of the various funds are as follows: To provide the necessary resources required by the Charity on a day to day basis. To meet maintenance occurring al regular intervals i.g. inlemal and extemal redecoration and the cost of professional fges in respect of quinquennial inspections. This fund is represented bi an investment of 273.01 units in the COIF Charities Investrnenl Fund. General Fund- IUnreslricted} Cydical Maintenance Fund.. IUnreslricted} Extraordinary Repair Fund: (Restricted) This is a restricted fund under the terms of a Charilies Commission Scheme and provides for luture major expenditure on repairs to the property without prior consent of the Charity Commissioners Endowment Fund.. (Restricted) Represents the capital investments described in Note 11 enhanced by unrealised gains on revaluation of investment assets to current market value. The fund is not available to convert to expendable Income. 16. Relat•d party Iransactlons The Trustees ofThe Fishermen's Hospital Charity are also the trustees of Great Yarmoulh Relief in Need. Al 31 March 2023. Great Yarmouth Relief in Need owed to The Fishemien's Hospllal Charity £Nil12022.. £Nill. Great Yarmouth Relief in Need paid The Fishemien's Hospital Charlty £800 (2022.. £300} in connection with rent payable. 17
GREATYARPIIOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED31 MARCH 2023 17. Reconciliatlon of operatlng surplus to cash flow from operatlng activities 2023 2022 Surplus for the year Interest and dividends received Loss l {Gainsl on investmer>l assets Ilncrease} l Decrease in trade and other debtors {Decr&asel l increase in trade and other creditors 8.357 (2.535) 3.968 (581 24.196 (2.462) {13.600} {101 230 Nol cash Inflow from operating actlvitios 18
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Incomg Residents payments (including Housing Benefit) Utility contributions Grants Investment dividends Donations other incom8 42.021 3,000 2.250 2.535 631 800 35.627 2.462 1.419 955 51,237 40,463 Expenditure Property Expendlture Rates Insurance Repairs and reconstruction Utilities Cleaning 179 1,621 11,721 20,000 532 1,015 1,509 10,083 11.795 696 Administrative Expanses Administration Telephone Accountsncy Sundries Membership 2.294 877 1.904 1.141 643 2.355 520 1.350 192 352 Total Expenditure Surplu$ belore revaluatlon of Investmgnt assgt$ 19