**REGISTERED CHARITY NUMBER: 527616**
## **Report of the Trustees and**
## **Financial Statements**
## **for the Year Ended 31 March 2023**
## **for**
**Foundation of Christ's Hospital at Lincoln**
**Foundation of Christ's Hospital at Lincoln**
## **Contents of the Financial Statements for the year ended 31 March 2023**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 5|
|**Independent Examiner's Report**|6|
|**Statement of Financial Activities**|7|
|**Statement of Financial Position**|8|
|**Statement of Cash Flows**|9|
|**Notes to the Statement of Cash Flows**|10|
|**Notes to the Financial Statements**|11 to 19|
|**Detailed Statement of Financial Activities**|20 to 21|
**Foundation of Christ's Hospital at Lincoln**
## **Report of the Trustees for the year ended 31 March 2023**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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 Ireland (FRS 102) (effective 1 January 2019).
## **Governance**
The charity is presently governed by a Charity Commission Scheme dated 2 August 1983 which amalgamated the previous charity of this name with a separate charity called The Lincoln School. The scheme number is L4-527 616/8.
## **Governors**
The governors have served as stated on pages 4.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
In setting our objectives, governors have given careful consideration to The Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education.
The charity's main objective is as follows:-
Subject to payment of the charity's administration and maintenance expenses, the income generated by the charity is devoted to the advancement of education for individuals, both while they are pupils at the Lincoln Christ's Hospital School and during further education up to the age of 25. This objective is achieved by providing grants, buildings, facilities and open spaces to both individuals and organisations.
Page 1
**Foundation of Christ's Hospital at Lincoln**
## **Report of the Trustees for the year ended 31 March 2023**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The Foundation continues to support the school to preserve and enhance the fabric of the school as part of the 5 Year Maintenance Plan (Conditions Survey Report) which set out the options of building works and ongoing maintenance activities for the school premises. Priorities were agreed between the Schools Estates and Facilities team (this number was a 50% contribution to the costs, the remainder coming from the schools' own budget). The main items included the replacement of an attractive and secure fencing solution surrounding the school boundaries, various replacement flooring projects throughout the school, creation of a sensory garden and lead flashing to roofing areas.
The top playing field has now been registered with possessory title now held by The Foundation.
All internal financial control documents and good governance policies recommended by The Charity Commission for England and Wales have been implemented and are reviewed on an annual basis.
The LCHS@50 sub-committee to celebrate the 50th anniversary of the non-selective schools' formation in 2024 is making strong progress with the creation of a new digital archive (to be called 'The Behenna Archive' after its first headteacher) and a celebratory weekend of activities is currently being formalised.
A visit was undertaken by the Governors and Trustees to the Bodleain library to view the book and manuscript donations bestowed.
The Foundation donated sums of money totalling £12,000 (an increase from 2022) to students. A verification and grants policy protocol confirmed that the requests were genuine and the aspirations realistic. The students used these funds for a variety of reasons, mainly for items of equipment, books and travel assistance related to their ongoing studies. This funding has greatly assisted the applicant students during a rising cost of living period to enhance their educational experiences and motivated them in their chosen study fields.
The school archivist funded by The Foundation prepared various occasional papers and presentations to the public throughout this accounting period with the archives being regularly opened for public access.
The Foundation undertook an independent review of their portfolio held with Investec Wealth & Investment Limited which resulted in a significant reduction in the annual fee payment.
## **FINANCIAL REVIEW**
## **Investment policy and objectives**
The objective of the Foundation's financial plans are to have a well balanced, medium risk portfolio. This has been well managed over the last twelve months and the strong equity market performance which has been replicated to a lesser degree in bond markets has served the Foundations investments well. Our portfolio weighting by asset class is as follows : 17.4% Fixed Interest, 19.4% UK Equity, 42.8% International Equity, 5.2% UK Property, Alternative Investments 14% and cash 1.3%. This portfolio with returns and the risk policy are reviewed on a quarterly basis by the Finance Committee.
## **Reserves policy**
The trustees believe that the charity is a viable going concern with free reserves of £99,006 (2022: £137,661) and sufficient operational reserves to cover essential costs being the Clerks' fees, archivist's fees and Independent Examiner's fees which are annually in the region of £6,000, £5,000 and £4,500 respectively.
Changes of tenants in the investment property in Scunthorpe has occurred with rental income now being received.
Page 2
**Foundation of Christ's Hospital at Lincoln**
## **Report of the Trustees for the year ended 31 March 2023**
## **FINANCIAL REVIEW THE GOVERNORS OF THE FOUNDATION OF CHRIST'S HOSPITAL AT LINCOLN**
The governors of the above trust submit their annual report and accounts for the year ended 31 March 2023 and confirm that the financial statements comply with statutory requirements and the Charity Commission's Scheme.
The investment and donation income of the trust was £115,709 (2022: £101,197) the donations returned to a more normal level following the previous years one off large donation.
## **FUTURE PLANS**
The Foundation now have their full quota of Governors and Members on the School Governing Body (in fact The Foundation now has the majority share of governors and thus has full control) and this will undoubtedly assist with the upcoming OFSTED visit and other strategic school matters.
The Foundation due to the generally worsening economic conditions will set a threshold on their accounts (ie. will not go below certain minimum balances) in order that the charity can continue in aeternum.
The Foundation has a succession plan in place to replace existing trustees with various rotational and retirement trustees looming which is required to share the workload to run The Foundation effectively.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
## **Recruitment and appointment of new governors/trustees**
New trustees are either nominated or co-opted in line with the charity's constitution. New trustees are encouraged to access various online training resources.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
527616
## **Principal address**
Wragby Road LINCOLN Lincolnshire LN2 4PN
Page 3
## **Foundation of Christ's Hospital at Lincoln**
## **Report of the Trustees for the year ended 31 March 2023**
## **Trustees**
Mr A Mills Mr C Pickering Mr J Hanrahan Mr P Harrod Mr D Gibbons Mrs J Daly Mr S Holt Ms N Clarke Mr P Beighton Mr C Milnes Mr J Males
## **Independent Examiner**
Mr Steven Robinson ACA Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN
## **GOVERNORS**
|**GOVERNORS**||
|---|---|
|**Chair**:|Mr S Holt|
|**Vice Chair:**|Mr M Edgar|
|**Governors:**|Mrs J Daly|
||Mr A Mills|
||Mr C Pickering|
||Mr P Harrod|
||Mr D Gibbons|
||Mr C Milnes|
||Mr J Males|
||Mr P Beighton|
||Mr S Parkes|
||Mr J Hanrahan|
||Mr P Watson|
||Mr N Potter|
||Cllr N Clarke|
|**Co-optative :**|Mrs J Daly|
||Mr J Males|
|**Clerks Address:**|Mrs L Martin|
||c/o Lincoln Christ's Hospital School|
||Wragby Road|
||LINCOLN|
||Lincolnshire|
||LN2 4PN|
Page 4
**Foundation of Christ's Hospital at Lincoln**
## **Report of the Trustees for the year ended 31 March 2023**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Investment Advisers**
Investec Wealth & Investment Limited Quayside House Canal Wharf LEEDS LS11 5PV
M&G Group Laurence Pountney Hill LONDON EC4R 0HH
## **CORRESPONDENCE**
Enquiries should be addressed to Mrs Lynda Martin, c/o Lincoln Christ's Hospital School, Wragby Road, Lincoln LN2 4PN.
Approved by order of the board of trustees on 29 November 2023 and signed on its behalf by:
Mr S Holt - Trustee
Page 5
## **Independent Examiner's Report to the Trustees of Foundation of Christ's Hospital at Lincoln**
## **Independent examiner's report to the trustees of Foundation of Christ's Hospital at Lincoln**
I report to the charity trustees on my examination of the accounts of Foundation of Christ's Hospital at Lincoln (the Trust) for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the 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 Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
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.
Mr Steven Robinson ACA
Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN
5 December 2023
Page 6
## **Foundation of Christ's Hospital at Lincoln**
## **Statement of Financial Activities for the year ended 31 March 2023**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Investment income
3
Other income
4
**Total**
**EXPENDITURE ON**
Raising funds
5
**Charitable activities**
6
Charitable activities
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
-
40,721
74,988
115,709
4,245
77,646
81,891
(87,350)
(53,532)
1,726,816
1,673,284|Restricted
funds
£
-
-
-
-
-
-
-
-
-
164,083
164,083|2023
Total
funds
£
-
40,721
74,988
115,709
4,245
77,646
81,891
(87,350)
(53,532)
1,890,899
1,837,367|2022
Total
funds
£
11,895
18,530
70,772|
|---|---|---|---|---|
|||||101,197|
|||||14,472
37,529|
|||||52,001|
|||||72,954|
|||||122,150
1,768,749|
|||||1,890,899|
The notes form part of these financial statements
Page 7
## **Foundation of Christ's Hospital at Lincoln**
## **Statement of Financial Position 31 March 2023**
|Notes
**FIXED ASSETS**
Tangible assets
10
**Investments**
Investments
11
Investment property
12
**CURRENT ASSETS**
Debtors
13
Cash at bank
**CREDITORS**
Amounts falling due within one year
14
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
15
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
62,430
1,111,848
400,000
1,574,278
12,630
110,649
123,279
(24,273)
99,006
1,673,284
1,673,284|Restricted
funds
£
-
156,000
-
156,000
-
8,083
8,083
-
8,083
164,083
164,083|2023
Total
funds
£
62,430
1,267,848
400,000
1,730,278
12,630
118,732
131,362
(24,273)
107,089
1,837,367
1,837,367
1,673,284
164,083
1,837,367|2022
Total
funds
£
62,430
1,282,725
400,000
1,745,155
14,365
156,201
170,566
(24,822)
145,744
1,890,899
1,890,899
1,726,816
164,083
1,890,899|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 29 November 2023 and were signed on its behalf by:
Mr S Holt - Trustee
The notes form part of these financial statements
Page 8
## **Foundation of Christ's Hospital at Lincoln**
## **Statement of Cash Flows for the year ended 31 March 2023**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Net cash used in investing activities
**Change in cash and cash**
**equivalents in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the**
**end of the reporting period**|2023
£
34,861
34,861
(131,623)
59,150
143
(72,330)
(37,469)
156,201
118,732|2022
£
41,866
41,866
(291,776)
71,477
3
(220,296)
(178,430)
334,631
156,201|
|---|---|---|
The notes form part of these financial statements
Page 9
## **Foundation of Christ's Hospital at Lincoln**
## **Notes to the Statement of Cash Flows for the year ended 31 March 2023**
## **1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**OPERATING ACTIVITIES**|||
|---|---|---|
|**Net (expenditure)/income for the reporting period (as per the**
**Statement of Financial Activities)**
**Adjustments for:**
Losses/(gain) on investments
Interest received
Decrease/(increase) in debtors
(Decrease)/increase in creditors
**Net cash provided by operations**|2023
2022
£
£
(53,532)
122,150
87,350
(72,954)
(143)
(3)
1,735
(8,470)
(549)
1,143
34,861
41,866||
|||41,866|
**2. ANALYSIS OF CHANGES IN NET FUNDS**
|**Net cash**
Cash at bank
**Total**|At 1.4.22
Cash flow
At 31.3.23
£
£
£
156,201
(37,469)
118,732
156,201
(37,469)
118,732
156,201
(37,469)
118,732|At 1.4.22
Cash flow
At 31.3.23
£
£
£
156,201
(37,469)
118,732
156,201
(37,469)
118,732
156,201
(37,469)
118,732|
|---|---|---|
|||118,732|
|||118,732|
The notes form part of these financial statements
Page 10
**Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements**
## **for the year ended 31 March 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Income is taken into credit by reference to the date of payment of dividends or the date on which interest is credited to Trust deposits. No credit is taken for dividends or interest accruing.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Fixed asset investments**
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk and changes in sentiment concerning equities and within particular sectors or sub sectors.
## **Tangible fixed assets**
Tangible Fixed Assets are recorded at cost or, in the events of goods being donated, at valuation at the time of acquisition.
## **Investment property**
Investment property is shown at fair value. Any changes to the fair value are included within the Statement of Financial Activities.
## **Taxation**
The charity is exempt from tax on its charitable activities.
Page 11
continued...
**Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements - continued for the year ended 31 March 2023**
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Value added tax**
The charity is registered for VAT and the financial statements are therefore net of value added tax where applicable.
## **Operating Lease**
Rentals receivable under operating leases are credited in the Statement of Financial Activity on a straight line basis over the lease term.
## **2. DONATIONS AND LEGACIES**
Donation income in the year amounted to £NIL (2022 : £11,895).
## **3. INVESTMENT INCOME**
|Income from investments
Deposit account interest|2023
£
40,578
143
40,721|2022
£
18,527
3|
|---|---|---|
|||18,530|
## **4. OTHER INCOME**
Other income relates to rents received on investment properties, this amounts to £74,988 (2022: £70,772).
Page 12
continued...
**Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements - continued for the year ended 31 March 2023**
## **5. RAISING FUNDS**
|**Investment management costs**
2023
£
Rental expenses
3,765
Property repairs
480
4,245
**6.**
**CHARITABLE ACTIVITIES COSTS**
Grant
funding of
activities
Support
Direct
(see note
costs (see
Costs
7)
note 8)
£
£
£
Charitable activities
5,724
47,002
24,920
**7.**
**GRANTS PAYABLE**
2023
£
Charitable activities
47,002
Donations payable to institutions during the year amounted to £35,002 (2022: £19,502).
**8.**
**SUPPORT COSTS**
Governance
Finance
Other
costs
£
£
£
Charitable activities
14,724
4,821
5,375|2022
£
10,813
3,659|
|---|---|
||14,472|
||Totals
£
77,646|
||2022
£
19,502|
||Totals
£
24,920|
Page 13
continued...
**Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements - continued for the year ended 31 March 2023**
## **8. SUPPORT COSTS - continued**
Support costs, included in the above, are as follows:
|**Finance**
2023
Charitable
activities
£
Investment manager fees
14,724
**Other**
2023
Charitable
activities
£
Archivists
4,821
**Governance costs**
2023
Charitable
activities
£
Independent examiner fee
3,000
Accountants' remuneration
1,810
Legal fees
565
5,375|2022
Total
activities
£
12,830
2022
Total
activities
£
(66)
2022
Total
activities
£
2,620
1,398
(160)
3,858|
|---|---|
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
None of the trustees received any remuneration or other benefits for the year ended 31 March 2023 nor the year ended 31 March 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Page 14
continued...
**Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements - continued for the year ended 31 March 2023**
## **10. TANGIBLE FIXED ASSETS**
|**COST**
At 1 April 2022 and 31 March 2023
**NET BOOK VALUE**
At 31 March 2023
At 31 March 2022|School
premises
£
62,430
62,430
62,430|
|---|---|
The land represents the school premises at Wragby Road, Lincoln. This is a listed building dating from 1907. Along with more recent additions, it is inspected periodically on behalf of the governors by architects and surveyors.
## **11. FIXED ASSET INVESTMENTS**
|**MARKET VALUE**
At 1 April 2022
Additions
Disposals
Revaluations
At 31 March 2023
**NET BOOK VALUE**
At 31 March 2023
At 31 March 2022
There were no investment assets outside the UK.|Listed
investment
£
1,282,725
131,623
(59,150)
(87,350)
1,267,848
1,267,848
1,282,725|
|---|---|
Cost or valuation at 31 March 2023 is represented by:
|||Listed|
|---|---|---|
|||investment|
|||£|
|Valuation in|2023|1,267,848|
Page 15
continued...
## **Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements - continued for the year ended 31 March 2023**
## **12. INVESTMENT PROPERTY**
£
## **FAIR VALUE**
|**FAIR VALUE**||
|---|---|
|At 1 April 2022
and 31 March 2023
**NET BOOK VALUE**
At 31 March 2023
At 31 March 2022|400,000|
||400,000|
||400,000|
During the period the investment properties were let or available for let under operating leases. The amounts due under these leases are as follows:
||£|
|---|---|
|Within one year|32,500|
|Between one and five years|65,000|
|||
||£97,500|
|||
The investment property was valued in 2019 at an amount of £520,000 on an open market basis, However due to the ongoing pandemic affecting the general economy and investment properties as a whole, the Trustees, with the advice of a local property expert consider this value to be impaired. As such a valuation of £400,000 has been included within the financial statements, Had this property not been impaired the cost of the investment property would have been £501,857.
## **13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
|Trade debtors
Prepayments|2023
£
11,105
1,525
12,630|2022
£
11,317
3,048|
|||14,365|
Page 16
continued...
## **Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements - continued for the year ended 31 March 2023**
## **14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
VAT
Accruals and deferred income
**MOVEMENT IN FUNDS**
At 1.4.22
£
**Unrestricted funds**
General fund
1,726,816
**Restricted funds**
Legacy monies
8,083
Lincoln High School
156,000
164,083
**TOTAL FUNDS**
1,890,899
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
115,709
(81,891)
**TOTAL FUNDS**
115,709
(81,891)||2023
£
4,070
1,695
18,508
24,273
Net
movement
in funds
£
(53,532)
-
-
-
(53,532)
Gains and
losses
£
(87,350)
(87,350)|2022
£
-
1,804
23,018
24,822
At
31.3.23
£
1,673,284
8,083
156,000
164,083
1,837,367
Movement
in funds
£
(53,532)
(53,532)|
|---|---|---|---|
|||||
|||||
|||||
## **15. MOVEMENT IN FUNDS**
Page 17
continued...
**Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements - continued for the year ended 31 March 2023**
## **15. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|Net
movement
At 1.4.21
in funds
£
£
**Unrestricted funds**
General fund
1,604,666
122,150
**Restricted funds**
Legacy monies
8,083
-
Lincoln High School
156,000
-
164,083
-
**TOTAL FUNDS**
1,768,749
122,150
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
Gains and
resources
expended
losses
£
£
£
**Unrestricted funds**
General fund
101,197
(52,001)
72,954
**TOTAL FUNDS**
101,197
(52,001)
72,954
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.4.21
in funds
£
£
**Unrestricted funds**
General fund
1,604,666
68,618
**Restricted funds**
Legacy monies
8,083
-
Lincoln High School
156,000
-
164,083
-
**TOTAL FUNDS**
1,768,749
68,618|At
31.3.22
£
1,726,816
8,083
156,000
164,083
1,890,899
Movement
in funds
£
122,150
122,150
At
31.3.23
£
1,673,284
8,083
156,000
164,083
1,837,367|
|---|---|
Page 18
continued...
**Foundation of Christ's Hospital at Lincoln**
## **Notes to the Financial Statements - continued for the year ended 31 March 2023**
## **15. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
216,906
216,906|Resources
expended
£
(133,892)
(133,892)|Gains and
losses
£
(14,396)
(14,396)|Movement
in funds
£
68,618
68,618|
|---|---|---|---|---|
## **Legacy Monies**
This fund holds resources for the purpose of providing grants to pupils and ex pupils in specialised areas.
## **Lincoln High School**
This fund is to provide grants for accommodation, to students leaving Lincoln Christ’s Hospital school, as they enter further education.
## **16. RELATED PARTY DISCLOSURES**
During the year ended 31 March 2023 there were various transactions with Lincoln Christ's Hospital School, a related party.
Page 19
**Foundation of Christ's Hospital at Lincoln**
|**Detailed Statement of Financial Activities**
**for the year ended 31 March 2023**
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Investment income**
Income from investments
Deposit account interest
**Other income**
Rents
**Total incoming resources**
**EXPENDITURE**
**Investment management costs**
Rental expenses
Property repairs
**Charitable activities**
Clerks honorarium
Donations
**Support costs**
**Finance**
Investment manager fees
**Other**
Archivists
**Governance costs**
Independent examiner fee
Accountants' remuneration
Legal fees|2023
£
-
40,578
143
40,721
74,988
115,709
3,765
480
4,245
5,724
47,002
52,726
14,724
4,821
3,000
1,810
565
5,375|2022
£
11,895
18,527
3
18,530
70,772
101,197
10,813
3,659
14,472
1,405
19,502
20,907
12,830
(66)
2,620
1,398
(160)
3,858|
|---|---|---|
This page does not form part of the statutory financial statements
Page 20
## **Foundation of Christ's Hospital at Lincoln**
## **Detailed Statement of Financial Activities**
## **for the year ended 31 March 2023**
|**Detailed Statement of Financial Activities**
**for the year ended 31 March 2023**|||
|---|---|---|
|Total resources expended
**Net income before gains and losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset
investments
**Net (expenditure)/income**|2023
£
81,891
33,818
(87,350)
(53,532)|2022
£|
|||52,001|
|||49,196
72,954|
|||122,150|
This page does not form part of the statutory financial statements
Page 21