GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY ACCOUNTS 31 MARCH 2024
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY FOR THE YEAR ENDED 31 MARCH 2024 Index to the Accounts Page Report of the Iruslees Accounlanls, report on the unaudited accounts Statement of comprehensive income including income and expenditure account statement of changes in reserves Balancè sheet Slalement of cash flows 10 Notes lo the accounts Detsiled income and expenditure account 19
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Trustee5 of The Fisherrnan H05P¥tal Charity present their report and a¢¢ounls for the year ended 31 March 2024. Reference and Admlnistration Information Charity Name.. The Fishermen's Hospital Charity Charity Registratlon Number: 256680 Regulator of Social Housing number- A3486 Registered offlce.. No. 8 Fishermen's Hospital Church Plain Great Yarmouth Norfolk NR30 1ND Trustees: Mrs P Hollis - Chaim)an Rev P Paine- Vice Chairman Mr J Holmes - Treasurer Councillor K Robinson-Payne Rev Canon S Ward P Levers (appointed 4 September 20231 Councillor P Walers-Bunn (appointed 4 September 20231 Councillor M Jeal Councillor C Cordiner-Achenbach Iresigned 6 May 20231 Councillor D Hammond Ms P Ashbourne Clerk to thg Trustees: Mrs J Smilhson Bankers: Lloyds Bank Market Place Great Yarmouth Norfolk NR30 1PA Accountant: Lovewell Blake LLP Chartered AGcounlanls Bankside 300 Peachman Way Broadland Business Park Norwich Norfolk NR7 OLB
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY REPORT OF THE TRUSTEES (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Oblectlves and actlvities The Charty owns and runs the former Fisherman's Hospital which consists of nine Almshouse Cottages on Market Place. Great Yarmouth situated round a cenlraS coutyard. The whole property is a Grade 1 listed buildin9. publ benefil The Trustees have taken due regard lo the guidance published by the Charity Commission on public benefit. They wnsidered the charity provides a public benefit through the provision of low cost housing to the sidentS of Great Yarmouth. Achievements and performance The Annual Review of the Weekly maintena Contribution was discussed al The Finance Meeting in November 2023, and il was decided lo make an increase of 6DA commencing April 2024. No increase was made last year owing lo the introduction of a Contribution to Gas Ljsage. The Trustees decided lo reduce the Gas Contribution to £100.00 per month owing lo a new 6G contract of £10,000 per year for 3yr fixed rate being agreed. Eleclricily. Water, TV, usage of washing machineltumble Dryer and all maintenance remains included. A new resident with connections lo the sea moved into Collage112 and sadly our Naval Officer from collage number 7 died in JU 2023. His widow continues lo live there. We have eight residents in total and nine cottages. One cottage. number eight, is our Office. One resident had a tTiple Bypass Operation last September and has made a good recovery. Heritage Open Days were very successfLJI once again and thanks lo support from Joanne. our Clerk, and Trustees we were able lo tell visitors and residents about the history of our Grade 1 Almshouses built in 1702 for 'Decayed Fishermen.. William Booth who vDluntaTily continues lo support us w((h our website and finances helped us obtain prior bookings for the event. Sl. Nicholas Priory children gave cards and gifts lo residents al Christmas and Easter and also gave invitations lo their services al The Min51er which were really good. Carol Singing in The Courtyard by lamp light on the first Wednesday of December together w((h mulled wine and ince pies was very well supported. The new lights installed by Michael Pearson and Joanne, the Clerk, certainly looked very festive. We have been addressing problems identified In the Quinquennial Report. The brickwork repair and replacernenl has been completed and the roof tiles. moss and gullers should be finished by the end of May. Many of the wooden windows facing the Courtyards are in need of repair and repainting which will be another expensive project. Heritage Aelion Zone grants have been closed. The damp identified in Cottages 4 and 5 have been Irealed and plastered. Joanne Smithson, our Clerk, received an increase in wages and an adjuslmenl of working hours from December 2023 and is able to claim Ir8velling, c8r parking and adminislralion expenses. Joanne continues to show commitment and iriteiesl in her role as Clèrk.
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY REPORT OF THE TRUSTEES {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Achievements andperfomiance (contlnued) Car Parking outside the Fishermen s Hospital 15 on the Agenda of Great Yarmouth Borough Council. They have 8 plan to lake away all parking for residents and put in bays al the West end of Sl.Nicholas Road opposite Bioadland Mobility who have an established use of the yellow lines for their Disabled Customers Cars, Scooters elc. The school has a well-used entrance for young children plus the pub has multiple delNeries in that small area. We are lo receive nolificalion of viewing plans in the not-loo-distanl future. COVID-19 We have had no reported cases of Covid -19 during the past year and encourage our residents to keep up with their vaccinations. Mark Duffield from ALDREDS of Great Yarmouth re valued the Fishemen's Hospital in September 2023 and gave a value of £800,000 . He commended us on the general condrtion of The Fishermen s Hospital. Flnancial review Eight cottages were t, providing income of £58,02312023.. £45,021>. Expenditure for the year totalled £41,685 12023.. £40,9121 including repairs of £15,121 12023. £11.7211. After other income of £14,60912023'. £6,216) and gains on the revaluation of investments of £15,52312023". losses of £3,968) the charity generated nel surplus for the year of £46,47012023'. £6.357}. Inveslmenlpolicy It is the Trustees policy lo invest the funds of the Charity, includin9 the endowment fund, lor long term capital growth whilst also seeking an income stream as a Contribution towards the running costs of the Charity. The investments are held in COIF Income Shares, the Charinco Income Fund and COIF Accumu13lion units. ReseThes policy General Fund The Charity recognises the need to have sufficient funds in reserve readily available as or convertible into cash to cover day to day expenditure. especially in the event that there is a reduction in weekly maintenance charge income following the departure of residents pending new residents being appointed.11 is the policy of the Trustees lo spend available funds on the maintenance and repair of the Almshouse Cottages and they have no intention to build up a significant level of frèe reserves. Restricted fLJnds are excluded from Reserves but the nature and amount ofany such funds may impact upon the Reserves Policy. This policy has been prepared while considering the risks, such as general maintenance and the need lo employ crafts people sympathetic lo the fabric of a Grade I listed building, constructed in 1702. Extraordinary Repair Fund This reStrted fLJnd will be used for future major expenditure. Transfers will be made from the Income and Expenditure Account. The fund is invested in accumulation shares and preferably in a Common Inveslmonl Fund. It can be drawn upon lo meet major items of repair.
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY REPORT OF THE TRUSTEES (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Financial review (continued) Cyclical Mainlenance Fund This clesignaled fund, lo which transfers are made from the Income and Expenditure Account, will be used lo meet maintenance costs occurring al regular intervals e.g. refurbishing kitchens and bathrooms. interior and exterior redecoration and the c051 of professional fees such as for Quinquennial Inspections. The starting point for calculating Reserves will normally be the unreslricled funds, however part of these may not be readily available for spending and may be ex¢lLJded from Resetves - tangible fixed assets. The Charity had free reserves lunreslricted fund) as al 31 March 2024 amounting lo £116,70412023.' £78.7151. The Charity also had reseNes amounting to £7,309 12023.. £6,669) in the Extraordinary Repair Fund and £115,32512023." £107,484) in the Endowment Fund. The total net assets of the Charity amounted to £341,570 12023.. £295.1001. The Charity will consider the Almshouse Association's recommended minimum amounts for transfer lo 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. Freeholdprop8rty The freehold property was valued by Messrs Aldreds, Chartered Surveyors, on 28 September 2023, as a single enlily, on the basis of open market value with vacant possession al a figure of £600,000. The property is included in the balance sheet al a cost of £102,232. Value formoney The Regulator of Social Housing IRSHI has published a value for money standard which musl be adhered lo by Registered Providers. This includes the need lo publish nine measures in a standard form lo enable comparison a¢fOSS the sector, accepting that there will be variances associated wrth each business's policies, strategy and focus. VFM metric 1. Reinveslrnenl O 2. New supply delivered Isocial housing units 0/01 3. New supply delivered Inon-social housing units &/ol 4. Gearing Q 5. EBITA MRI interest cover 0/0 6. Headline social housing cost per un(( £ 7. Operating margin (social housing) Yo 8. Operating margin loveralll °/0 2024 14, 2023 11.5 176.41 NIA 1,890 38.6 48.4 13.6 {46.61 NIA 1,465 24.4 17.3 Governance and Financial Viability The Trustees are committed to achieving good governance and being an effective provider of services, meeting both regulatory codes and standards.
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY REPORT OF THE TRUSTEES ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Plans for the future The future 8clivilies will ¢onlinue to be the operation of Almshouse Cottages. Structure, Governance and Management Goveming inslmmenl The Charity is registered with the Charity Commission and the Regulator of Social Housing. 11 is adrninistered by Great Yarmouth Municipal Charities Trustees. The Charity is a member of the Housing Coiporation Ombudsman Scheme. The Charity wa5 created by deed sealed on 11 January 1984. 11 incorporates the former Fishermen's Hospital Charity which was administered by the Great Yarmouth Municipal Charities together with the Charity of Mrs Elizabeth Blennerhassett and the Chanty known as Benjamin Jollys Grft, both of which were administered by the Great Yarmouth Borough Council. RrUitment and appointment ofcommittee members The Trustee board should cons1St of eleven members, comprising one Ex-officio Trustee, four Nominative Trustees, and six Co-opted Trustees. The Nominative Trustees are appointed by the Great Yarmouth Borough Council. The Co-opted Trustees are those who through residence, occupation or employment, or otherwise have special knowledge of Great Yarmouth. Elections take pla annually al the Annuaj General Meeting. Al the dale of approval the board comprised eleven members as listed on page 1. O@&nisalffonal slwclu The Municipal Char((ies are run by a groLJP of volunteer Trustees, of which some belong to the local council and so may change due to the ouicome of a Ial election. As well as the volunteers there 15 a paid Clerk who manages the paperwork and liaises with the ac¢ounlanls and local authority. Risk assessment The Trustees are aware ol tha Charity Commission recommendation lo review the risks applicable to the Charity and this exercise was last reviewed in February 2019. Rglaled Parties This charity is connected with Great Yarmouth Relief in Need. The two charrties have common trustees and are administered commonly al the same registered office. The only transaction between the charities 15 the payment of nt from Great Yarmouth Relief in Need to the charty for use of its administrative facilities. The trustees do not consider it appropriate lo consolidate the results as the charities have different objectives. Accountants Lovewell Blake LLP are willing to continue as accountants for the charity. Signed on behalf of the Trustees on 2 September 2024. Mrs P Hollis Rev P Paine
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY ACCOUNTANTS REPORT TO THE BOARD ON THE UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 We report on the accounts for the year ended 31 March 2024 sel out on pages 7 to 18. Respective responsibilities of the Board and reporting a¢¢ountant The Board of the Registered Social Housing Providèr is responsible for the preparation of the accounts, and they consider that the Registered Social Housing Provider is exempl from an audit. 11 is our responsibility to carry out procedures designed lo enable us to report our opinion. Basls of opinion Our procedures consisted of comparing the accounts with the books of account kept by the Registered Social Housing Provider and making such limrted enquiries of the officers of the Registered Social Housing Provider as we considered necessary for the purpose of this report. These procedures provide the only assurance expressed in our opinion. Opinion In our opinion.. the accounts for year ended 31 March 2024 are in aordanCe wrth the accounting iecords kept by the Registered Social Housing Provider under paiagraph 13512llal of the Housing and Regeneration Act 2008., having regard only lo. and Dn the basis of the information contained in the accounting records.. the accounts comply with the requirements of the Charilres Act 2011., the Registered Social Housing Provider has satisfied the condilions for exemption from an audit of the accounts for the year ended 31 March 2024 specified in section 136161 of the Housing and Regeneration Act 2008, the accounts comply with the requirements of Housing and Regeneration Act 2008 and the Accounting DirlI0n for private registered providers of social housino in England 2022. Bankside 300 Peachman Way Broadland Business Park Norwich Norfrilk NR7 OLB Lovewell Blake LLP Chartered Accounlanls 20109124
GREAT YARMOUTH MUNICIPAL CHARITIES, THE FISHERPAEN'S HOSPITALCHARITY STATEMENTQF COMPREHEtr4SIIE INCOME INCLUDING INCOME ANO EXPENOITURE A¢CO(FNT FOR THE YEAR ENDED 31 MARCH 2024 Unr•strfct•d R•strl¢t ExtraordlDJry Rqpjir Endovlment 2034 Totsl fund fund 2923 N•t•5 TMoVer se.o23 58.023 45.021 OperèMi*XPtnditu 34 53 Grou $yrplu$l Id•fi¢it> Adfflinisiiaton expwdiiure Other¢pgrating incom8 37.S04 22.383 10.988 5238 6495 3681 Op•ratini sUbu9 Ildeficil) 38.697 4,585 28.071 7.79Q Inlere$l roc¢Nabk and simiL8rincE)me 2535 Srlu9 1 Idèflcitl bèlorè r•¥aatIOn of Inv•Btrnent•ss•ts 39.$73 4,585 30,947 10.325 Galn¢ I11086¢6} on r•valuatknn of IDv¢ibm•nt 7692 Surplui I (defi¢> on ordlnary o¢tiYitle8 forthe yoaranl tvtsl ompr•hinBlv• Inc¢m• lor the year APPVed by the Trus15 on 2 September 2024. Mrs P Holis P Pain The abov¢ rgsutt$ relate lo conbnuing &ctsB3 The Mt¢$ set out on pages 10 I¢ 17 loim an Inie9ral partof th8s8accwnts.
GRRATYARMOUTH MUNICIPAL CHARIMES, THE FISHERMEN'5 HOSPITAL CHARITY STATEMENT OF CHANGES IN RESERVÉS FOR THE YEAR ENDED 31 MARCH 2024 UnstrIct¢d Extraordinary RepaSr fund Genèr•1 mintEnanC fuDd fnd Rpalr EN#o¥mient fund T)t41 2024 Totil 2Q23 At 31 Mar¢h 202J 1eo.947 6,$69 107.484 295,10Q 288.743 N•t mov¥m•niin funtts 39.573 4,585 7,841 4e,470 6.357 Tranaf&r bBtween lund• SS19 Fund balanc•s Carri foNAr at31 Moreh 2024 Thè nots$ gèt Outon p4geS ?0 to 17 10(m an iitsgrql partoftho5e acwunts.
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 MARCH 2024 Note$ 2024 2023 FIXED ASSETS Tangible Investments 10 102,232 164 006 102,232 148483 266.238 250,715 CURRENT ASSETS Sundry debtors Cash at bank 12 1,214 72,335 1.167 42.208 current account deposit account CURRENT LIA81LITIES Creditors FUNDS Unrestricted Restricted Endowment 15 15 218,936 7,309 115 325 180,947 6,669 107484 Approved by the Trustees on 2 Sepiernber 2024. Mrs P Holli$ Rev P Paine The not@s sel out on pages 10 10 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 2024 Notes 2024 2023 Net cash inflow from op&rating aclivitlO$ 17 27,616 9,701 Cash flow from investing actlvltles Dividends received Net cash flow from investing a¢tivitig$ Net increase in cash and cash equlvalents 30,492 12,236 Cash and cash equlvalents at l April 2023 Cash and cash equivalents at 31 March 2024 Cash and cash equivalents consist of: Cash at bank and in hand The note5 sel out on pages 10 10 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 2024 Accountlng Policies The principal accounting policies adopted. judgements and key sources of estimation uncertainty in the preparation of the financial stslemenls are as follows.. {al Basis of Aocounting The accounts have been prepared in accordance wf(h applicable accounting standards including the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Slalemenl of Recommended Practice for Social Housing Providers 2018. and with the Accounting Direction for Private Registered Providers of Social Housing in England 2022. The accounts have also been prepared under the requirements of the Housing and Regeneration Act 2008. The a¢counls have been prepared on a going concern basis under historical cost convention, except for the revalijation of investment assets. The charity conslilules a public benefit entity as defined by FRS 102. Ibl G8n8ral InfOm?at The Fisherman's Hospital Charity is an unincorporated ¢harrty and a prwale registered Provider of Social Housing in the United Kingdom. The address of the registered office is given in the reference and administration information on page 1 of these accounts. The nature of the registered proverS operations and principal adivf(ies are sel out on page 2 of these accounts. Icl Fund accounting Unrestricted funds are available for use al the discretion of the trustees in furtherance of the general obiedivÈs of the charity. Restricted fvnds are 5ubje¢led lo restrictions on their expenditure imposed by the donor or through thè terms of an appeal. Revenue and expenditure oannot be directly set against reslricled reserves but is taken through the statement of comprehensive income and then a transfer to restricted reserves is rnade as appropriate. Endowment funds are those ieserves which are only èxpendable in accordance with the wishes of the fundei or ragulatory body. Idl Tumover Turnover Is measur8d at the fair value of the consideration reTrived or receivable. The policies adopted for the recognition of turnover arè as follows.. Turnovèr represents rental and Service charge5 income receivable in the year net of rent and seNice chaige losses from voids, revenue granls from the government Ilocal aulhorilies).
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 (el Expenditure Expènditure is recognised on an accrual basis as a liability is in¢urred. Expenditure includes any VAT which cannot bè fully recovered, and is reported as part of the expenditure lo which il relates.. .Operating expenditu comprise those costs incurred by the charity in the delNery of it5 activities and services for ils beneficiaries. 11 ineludes both costs that can be allocated directly lo such aclivities and those costs of an Indirect nature necessary to SLJPPOrt them. Adminislralion expenditure includes those costs associated with meeting the administration and slalulory requirements of the charity and inclLJdes the accountant fees and costs linked to the strategic management of the charity. All costs 8ie 8llo¢ated between the expenditure Categories of the Statement of Comprehensive Income on a basis designed lo refSect the use of the resource. In Investment income Bank interest is in¢luded in the income and expendrture account on an accruals basis. DivKlends are included In the income and expenditu account when they are received. Igl Fixed assets Housing land and buildings The Iruslee5 regard the building held by the Charity as an inalienable asset due lo being a Class l Listed building and thus no depreciatn or amort15alion charge is provided. Equipment is depCIated at a rale of 10010 slraighl line. {h} Investment polKy Investments are included in the accounts at their market value al the year end. Any surplus or deficit arising on the revaluation or disposal of the investments is credited or debited to the Statement of Comprehensive Income. D8b10 and creditors receivable/payabl8 within one year Debtors and credrtors With not slated interest rale and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. lj'l Cash at bank Cash al bank and Cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less. Ikl Going concgm The financial slalemenls have been prepared on a going concern basis, as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising Ihesg financial statements. The budgeted income and expenditure is sufficient with the level of resetves lor the charity to be able to continue as a going concern. 12
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Social Hou$lng turnov&r and cost 2024 2023 Rents and ulilily contribution receivable Expenditure Operating surplus from Social Housing acliwties Nel surplus from Social Housing activities Void losses Net surplus The nel surplus 1$ slated after charging'.- 2024 2023 Accountancy fees lexcluding VATI Rental income During the year the charity provtded 812023.. 81 general housing accommodation units. 2024 2023 Rental and ulilily contribution income {nel of voids of £1,52912023'. net of voids of £1,330}1 During the years ended 31 March 2024 and 2023 all rental income was unreslrided. Other income 2024 2023 Other income Grants Other donations 1,OS4 6,495 800 2,250 631 During the years ended 31 Inarch 2023 all other income was unrestrided. Included in Grants are government grants of £6,495. Analysis of operating expenditure Charitable activities Governance costs 2024 2023 Rates Repairs and construction Insurance {711 15,121 1,792 18,273 525 1711 15.121 1.792 18.273 179 11,721 1,821 20,000 532 Cleaning During the years ended 31 March 2024 and 2023 all operating expenditure was unrestricted.
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of adminlstrative expenditure Charitable Governance activities costs 2024 2023 Adminislralion Telephone Accounlanls fee Sundries Membership 2,660 803 2,294 877 1,904 1,141 643 2,294 877 1,904 1,141 643 1.584 209 789 During the years ended 31 March 2024 and 2023 all administrative expenditu was unrestricted. Interest receivable and similar income 2024 2023 Interest receivable Dividends 385 DLJring the years ended 31 March 2024 and 2023 all interest receivable and similar was unrestricted. Trustees remuneration and expenses The Trustees did not receive any remuneration and were not reimbursed expenses during the year. There are no key management personnel as the charrty does not have any employees. The charity is managed by a self-employed clerk, the c051 ofwhich was £2,252 {2022." £2,028) has been included within administrative expenditure. 10. Tangible fixed assets Freehold Land & buildings Equipment Total Cost Al 1 April 2023 and 31 March 2024 102 232 110516 Deprèciation Al 1 April 2023 and al 31 March 2024 8284 Net Book Value Al 31 March 2024 Net Book Value At 31 March 2023 All housing properties are held for lettings purposes. The propety was valued by Messrs Aldreds, Chartered Surveyors, on 28 September 2023, as a single entity, on the basis of open market value with vacant possession at a figure of £600,000. 14
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 11. Investments 2024 2023 Market value as at 1 April 2023 Unrealised Ilossl on revaluation 148,483 152,451 Market value as at 31 March 2024 14 Historic cost The portfolio comprises of the following listed inveslmenls.. Holding Fund Market Value 4,561.51 units 273.01 units 425.81 units Chanties Investment Fund Income Units Charities Investment Fund Accumulation Units Charinco Common Investment Fund 93,204 70,182 620 64 The fair value of listed investments has been determined by reference to the quoted price for identic81 assets in an active market at the balance sheet date. 12. Debtors 2024 2023 Other debtors Prepayments and acerued incw)e 626 588 626 $41 Creditors: Amounts falling due withln one year 2024 2023 Accruals and deferred income 14. Taxation The charity has no liabilty to income lax or capital gains lax.
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 15. Reconclllation of movem8nt of funds Year ended 31 March 2024 Unrn8trS¢t8d Cyclical Geft8rn1 Malntenance Fund Funds Rgstrict•d Extraoidlnary Repair Endowment Funds Fund Repair Fund Total Funds bld 1 April 2023 Surplus I (Deficit) for the year Transfer between funds Revaluation ol Investment assets 180,947 6,669 107,484 295,100 39,573 {1,5841 113.2111 5.519 4,585 14,5851 30,947 650 10 15 523 Funds cd 31 March 2024 Tangible Fixed Assets Land and buildings Laundry equipment Investments COIF Charities Investment Fund {4,561.51 units) COIF Charities Investment Fund1273.01 unilsl Charinco Common Investment Fund1425.810 unitsl CUrn1 assets Debtors Bank account Current liabilities 102.232 102,232 93,204 93,204 70.182 70,182 620 620 1,214 119,523 1,214 78,151 170.1821 6,889 22,121 Funds cifwd 31 March 2024 21 Year ended 31 March 2023 Unrestvfjct8d Cyclical Ext¥aordinary Gonelal Malntenanco Repair Fund Funds Funds Restricted Endowment Fund Totsl Funds bld 1 April 2022 Surplus I (Deficit) for the year Transfer between funds Revaluation of Investment assets 167,773 4,038 6,124 110.808 288,743 22.046 18,872) 111,7211 8,222 10,325 850 539 105 3968 Funds cthvd 31 March 2023 16
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Reconciliation of movement in funds Icontinued} Year ended 31 March 2023 Iconlinuedl Unrostricted Restrictsd Cyclical Extraordinary Goneral Molntenance Repair Fund Fund¥ Funds Endowment Fund Total Tangible Fixed Assets Land and buildings Laundry equipment Investments COIF Charities Investment Fund14,561.51 units) COIF Charities Investment Fund {273.01 units) Charinco Common Investment Fund1425.810 unit51 Current assets Debtors Bank account Current liabilities 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 31 March 2023 The purpose of the various funds are as follows.. General Fund.. Iunreslrictedl To provide the necessary resource5 required by the Charity on a day lo day basis. Cyclical Maintenance Fund.. {Unreslricledl To meet m8inlenance occurring at regular intervals e.g. internal and external redecoration and the cost of professional fees in respect of quinquennial inspections. This fund is represented by an investment of 273.01 unts in the COIF Charities Investment Fund. Repair Fund.. IReslricted) Thi5 IS 8 reslricled funds received from Great Yamoulh Borough Council towards expenLlilure on repairs to the propety. Extraordinary Repair Fund.. (Reslricled) This is a restridgd fund under the terms of a Charities Commission Scheme and provides for future major expenditure on repairs lo the property without prior consent of the Charity Commissioners. Endowment Fund.. (Reslricledl Represents the capital investments described in Note 11 enhanced by unrealised gains on revaluation of Investment assets lo current market value. The fund is not available to convert lo expendable income. 16. Relatad party transactions The Trustees ofThe Fishermen's Hosprtal Charty are also the trustees of Great Yarmouth Relief in Need. Al 31 March 2024. Great Yamioulh Relief in Need owed lo The Fishgrmen's Hospital Charity £Nil12023'. £Nill. Great Yarmouth Relief in Need paid The Fishermen's Hospitsl Charity £910 12023.. £8001 in connlI0n with rent payable. 17
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 17. Re¢onciliation of operating surplus to Cash flow from operating activitigs 2024 2023 Surplus for the year Interest and dividends received Loss I (Gains) on investment assets Ilncreasel l Decrease in trade and other debtors (Decrease) l increase in trade and other credf(ors 46,470 12,8761 115,5231 1471 408 6,357 (2.5351 3,968 {581 Net Cash inflow from operating a¢tivities
GREAT YARMOUTH MUNICIPAL CHARITIES THE FISHERMEN'S HOSPITAL CHARITY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Income Residents payments lincluding Housing Benefill Utility contributions Grants Interest receivable Investment dividends Donations Other income 41,273 16,750 6.505 365 2,511 4,174 42,021 3.000 2,250 2,535 831 800 72,632 51,237 Expenditure Property Expenditure Rates Insurance Repairs and reconstruction 1711 1,792 15,121 18,273 525 179 1,621 11,721 20,000 532 Cleaning Administrative Expenses Administration Telephone Accountancy SLJndries Membership 2,660 803 1,584 209 789 2,294 877 1.904 1.141 643 Total Expenditure 41685 Surplus before revaluatlon of investm9nl assets