Charfty rnzbtrndon minthr701458 HOLBEACH AND EAsf ELLOE HosprrAL TRusr ANNUAL REPORT AND FINANCIAL sfATEMEiirs FOR THE YEAR ENDED31 MARCH 2024
HOLBEPLH AND EAsf ELLOE HosprrAL TRusr LEGALAND AOMINISTrATIVE.INFQRMATION Lord Thylor of Holbeach CBE mMertctmThMlttee Ladyj Taylor Mtss T Carter Rev S An8US Mr B Eamshaw Mr M Harrlson Mrj Dalton Mr P Johnson Mts K Wlng Mrcj Penney Mrs HAedy Mrs S IMS Mff E Walmsley (Appolntsd 15 September 20231 IAppolnted 15 Septsmber 2023) IAppolnt¢d September 2023) Senlor manawnant Mrsj Scott Mrs R Atklnson Mrs R Grlffln Manager Buslness Support Manager alnlcal Lead 701458 Holbeach.Hospltsl Boston Road North Spaldlng Unc8 PE12 8AQ Audltor TC Group 14 London Road Spaldlnl Uncolnshlre PEII 2TA BAnk•rs Lloyds Bank plc Hall Place Spaldln Uncoln5hlre PEII 15E
HOLBEACH AND EAsf ELLOE HosprrAL TRusr Trustees, report Statement of.trustees' responslbllltles Independent audltor's report statsment of financlal 4CtlvMles Balance sheet io Statement of cash flows li Notssto the flnandal statements
HOLBEACH AND EAsf ELLOE HosprrAL TRusr Thetru#ees presentthelrannual repryt and flnandal statements forthe ypar ended 31 March 202 ObJ•¢Uv•s and •cUvltles diJecd4os of the Trust are rellef, care and asslstsnce of persons Irrespectlve of colour, ra or creed, 5ufferlng from any forrn of sl¢kne55 or Incapadty and the advancements of educatlon, provislon of.facllltles kn the interests of 59dal welfare for recreatlon and lelsure tlme occupatlonforthe benefft of the wmmunSty and In partlcular, but wlthout prejudlce, to the generallty of the foregolng wlth the object of Improvln8 the 'condltlon of Ilfe of the Inhabkants of the area formerly comprt5ed In the East Elloe Rural D15trfct and the surroundlng nelknbourhood. The Trustees are hlghly consclous of the need to prolrfde the best publlc benefit by constsntly rthlevATrg and Improvlng stsndards and thls Is undertaken In a number of way& • Fee Increases are kept to an lbsolute mlnlmum In order to allow the nursln8 home to be used by the wldest demoBraphlc • The nurslb)8 home has at Its h•artthe care and needs of Its resldent5 Irrèspectlve of colour. rac4 creed or weakh . In the current'year a perttntage of avallable beds has been occupled * self4undln8 re51dents Athl•wngnts •nd p•rforman Slpnulcort acllvltfu.and achlevements aqolnst objectlves Durln8 the year under revlew the Trust conttnue5 to towards Its obJ8Ctlves by.the'tontlnulng provjthn of Nurslrq Home fac]lftles to the resldents of Holbeach and East Elloe and the provlslon of servlces to the Nath)nal Heatth 5erwlce. Uncoln5hlre County CounclL other Local AhorItIeS and Prfvate Fund¢r& Our ActItIeS CoDrdlftators contlnue to provlde acthilUe5 and enrlchment for the re51dents of Hobeach'Hospltsl. Resldent welfare Is enhanced by trlps Into the local communlty and further afield wlth vlshln8 entfftslners and pastordl outreath from the local churches comlng to the Nurslng Horne. To keep the hospltsl fft for purpose, a programme of refurblshment contlnues on a rollln8 basls. General Dats Protectlon Re8ulatlons (GDPR} that became law In Aprll 2016 came Into force on 25th May 2018. It governed the securfty of all types of data held under all formats and thelr locatlon. The Trust15'requlred to ensure express, rather than Implled. perrn15slons are obtslned and to Infom) when any dats held wlll be destroyed In accordance wlth the pollcles and procedure5. These poSlde5 and procedure5 also define how an Indlvljual can request to see thelr dats• request to be "forgotten" and what happens should'a breach of 5ecurlty o(£ur Indudln8 a cyber breach. Our dl81ts1 dats Is cononually belng stored and enoypted and manual dats held securely. The Trust has Included ber Insurance as an add-on package to our general Insuftn should a breach occur. The Trust contmiues to monltor and audlt Sts oblir4tlons under the Act. Hn•nclal K•vlew During the year, the Trust rdlsed £2,280,944 from the Natlonal Health Servlce . Local GovernmÈnt, other anCIes, self-funders and the general publlc to its aims mentioned earller. The Trust used Q459A33 In the current year. There was a deflclt In Investments In the year of £2,961 which overall ha5 led to a defidt In re5(wJrces of £181360. Thls has meant the Trust has decreased Its total reser¥e5 to £1799,207. Of thF5 total figure £937.926 relates to restricted reserve5 le8Yin¥£L861,281 attrtbutableto general reserves.
HOL8EACH AND EAsf ELLOE HOSprrAL TRUST TRUSTEEY REPORT (cormNUED) Plan5for.future p•rlods The prlmary alm of the Trustees, as It alwtys has been Is to try to ensure that the Trust contlnues to operate as a 8oln8 corKem so as to be able to dellver Its ststsd.charltsble oblecilves. To be able to do so theTrust has needed to adopt a flexible approach to how It operates and durfng the year has declded to Introduce a dllsed systsm of record keeplng etG There has been pressure from our Corporate dlents to Introduce such a 5M for some tlme and'the flndln8s of the CQC Inspectlon that occurred durfng the year was the catslyst for dnge. The new softwqre and StsPPDrtlng hardware have been Instslled and the system went lfve at the be8lnnln8 of Sq>tember. The Trust contlnues to have a contrart wlth the NHSto provlde 6 beds for use bythe fo1 GYS, and.the local acuty medlcal fadlltles. Addltlonally, the Trust have a contrdct wlth the local authorlty to provlde 6 Rfrablement bèds, thls number was Incrawed by 8 for the perlod betwaen January and March of 2023, and the Trust recendy tendered for a contart to hwe an addltlonal 10 such beds on an annual basls. Thls would hwe brought a degree of flnanclal securlty, but we were unsuccessful In our bld due to not beln8 able to accommodate patlents vAth demenila and Alzhelmer's. Th15 has prompted the Trustees to open up a debate abt adaptlng faclllifes to be able to accommodate such Palfents The majorlty of the other beds are purchased on ? spot basls by lxal authorltle5 and h•alth guththtles, often for the care of patlents at the end of Ilfe. The Trust contlnue5 to push all those It contracts wlth for contracts of longer perlod than 12 months and for a fee level commensurate wlth the IncreaslTh8 tosts the Trust:Is.facln& As In prevlous years the Trust contlnue to seek for the NHS to Contrart purchase more than the 6 beds It currentty does so as to allow more persons to elther avold belng adrnltted to an a¢ute faclllty or to be dlschar8ed eartler thus avaldlng the bed blockln8 we conunually hear abouL Dur1 the later part of 2022 the Trust were Inflymed that theywere to be the berftclarfes of a substsnt141. le8acy whlch totslled £629,847 and has now been completed. Prlor to belng avnre of thls légacy the front receptloTh area had been remodelled to make Ft more welcornl and those who h4ve xen and used It have made pO31U comments abDUt the IMpr0menL Wlth the financlal se¢urlty the ifore mentloned legary wlll brlng the Trustees, acknowled8lw that certaln parts•f the estate are looklng very tlred. have embarked on a $¢h•me to upgrade the remalnder of the maln ¢crrldor and dayroom l. Addltlonally, and malnly due to the Increased cost of energy, the Trustees made.3 plannlng appllcauon for the Instsllatlon of a range of solar panels on the fleld adjacent to the haStrI whlch was once the slte of the onslte sewage works. Hannlng permtsslon wa5 applled for In October 2023 and Inltlal quctes have been recel*d wlth dls¢usslons ongoln8 wlththe Natlonal Grld for capaclty approval. Alongslde these major works an Ongo1 programme of room refurblshmerrt contlnues. Structurei BObTrnanc• and manaEement Governing Dornent The Trust.Is governed by an "assoclatlon" Charlty Incorporated oan1$atiOn consUtutk•n adopted on 6 September 2019 but was orlglnally reElstered wlth the Charty Commlsslon in England and Wale5 on 20 Aprfl 1989. On 11 June 2020. the tharlty converted from a company Ilmlted by guarantee.
HOLBEACH AND EAsf ELLOE HOSPITAL Thusr TrU5TEES' REpoirr (CONnNUED) FOR 7HE YEARENDED 31 MARa12024 Appolntrnent of Trusteos The Tru5tee5 who have Served durfng the year and slnce the year end are set out on page l. The Board of Trustees hwe the general control and managemert of the admlnlstration of the Trust. Prospective Trustees are nomlnated before appolntment and, after sep4lng a5 a Member, are then ell8lble for nomlnatlon and appolntment to the Board ofTrustees Councll of Management as aTrustee. Trustee Inductlon and TrdlnlnB New Trustees under80 orlentst1on sesslon5 whlch Include observatlon at a Coundl of Management Meetlng prlor to becom[ a Trustee, vlslung the Re8iStsred.offi of the Trust tll famlllarlse themselves In the way the or8anlsailon carrle5 Out Its da*ttrday due$ and Implements dedslons. Buslne55 plannlng, the Consututlon and Flnanclal Perform8nce are also covered. Trustees are encouraged to attend external tralnlng events whlch assist them In undertaklng thelr role. Orsanlsatlon The ean511tuilon states the composltlon of the Board of Trusts•S. A M4nJger 15 Ippolntsd by the Trustees tts manage the day-to4ay operatlons of th¢ TrusL The Trustees have vAamlned the major 4 strdte8lc buslness and operatlonal rlsks whlch'the Trust faw and conflrm that system5 have been estsbllshed to enable regular r•pDrts to be produced so thatthe necessary stsps can be taken to,le5sen these rlsks. IhThtus and luntI• The Trust ackn¢wled8es the valuable asslstsnce of thg many volunteer5 who gfve freely thelr rne to help the older generailon, fanglni from help wlth prartIca1bI drlvlng the rnlnlbus, and beremm¢nt coun9¢111. The Trust acknowledges the Holbeath & East Elloe Hospltal Lea8ue of Frlends whose contlnued support enhances the tharlws work In the care of the resldents. The League of Frlend'5 charlty shop contlnues tothrlve and1s.a real asset to the Trust as they help fund the purchase of a varlety of equlpmenl fvrnlshlngs and accesxyles that beneflt the resktonts and ald the Trust In provldlng the hlgh standard of care they deseNe. It Is the pollcy of the Trust ta rnalntaln unrestrlcted funds, whlch are free reserves (funds not ommttted or Invested In tsnAlble flxed assets) of the Trust at a level of between 3 and 6 months of resources expended. At thls level 'the Councll of Mana8ement ftel that they would be able ¢0 contlnue the current actlvltles of.the.charlty, In the event of a slgnlflcant drop In fundln8. The Trustees are c(stantlY Investl8atln8 Wdrlous fundlr8 sources to feguard the actlvEtTes of the Trust. Durlng the year, prevlously held Investments have been converted to cash. There are no lon8er ary Investments held atthe year end.
TRusfEES' REPORT (copillNUED) Thetn*.gs'. report was approved by the Board of Trurtee5. Mr CJ Penney Chalmian of Th¥te
HOLBEACH AND EASf ELLOE HospfrAL TRusr srAT£MEiif OFTRusfEE5' RESPONSIBILrriES FOR 7HE YEAR ENDED 31 MARCH2024 The trustee5 are responsible for preparln8 the annual report and the financlal statements In accoarKe wlth appllcable law and Unlted Klngdom pted Accounting PrdLtice. Law applicable to charftles in England and Wales requires the trusrees to prepare flnandal ststements fDr each financlal year whlch g]ve ¥ te and falr vlew of the thar1$ flnanclal acknvities durlng the year and of its ftnandal posltlon at the end of year. In preparlng those Ilnanclal statsments, the trustees are requlred to: a) selett sultsble accoundn8 pollcles and then applythem conslstently b) observe the methods and prln¢iples In the ChaTltSes Statement of Recommended Pracdce 2019 IFRS 102} 15tate whetker appllcable accounlng standards have been follthmed subjert to any departure5 dlsdosed and explalned In the flnanclal staternents: and d) prepare the flnanclal 5tatsments on the 8oln8 COnM basls unless It 15 Inapproprlats to presume that the thèrfty wlll conttnue In buslness. Thè trustees are responsible for keeplng accounting records whlth dlsdose wlth reasonable accurary at any tlme the financlal posltlon of the charlty and enable them to ensure that the flnanelal statement5 comply wlth the Charltles Act 2011, the Charlde5 Act IAc¢ounts and Reports) Re8Utatlons 2008 and the pr¢vlslons of the trust deed. A resolutlon prcposlng TC Bulley Davey be re-appolnted as audltors wlll be put to the Annual General Meeting.
HOLBEACH AND EAST ELLOE H05prrAL TRusr INDEPENDENT AUDITOR'S REPORT TO THE TRiisfEES OF HOLBEACH AND EAsf ELLOE HOSPITAiTRusr Oplnkn We have audited the financlal ststements of Holbeach and East Elloe Hospltal Trust {the 'trust:I forthe year ended 31 March 2024. whl¢h comprtse the statement of Ilnanclal attl¥lUes, the balance sheel the slatement of cash Ilows and notes to the flnanclal statements, Sncludlng $lgnlficant accountlng pollcle5. The flnancia reportlng framework that h35 been applled In thelr preparatlon Is appllcable Iw and Unlted KlThgdom Accountlngstsndards, Includlng Flnanclal Reportln8 Standard 102 The Flnandal Repordng Standord uppllcable In the.UK ond Republk ol Irelond (Unlted Klngd.om Generally Acceptsd Accountln8 Practlce). In our oplnlon, the flnanclal statsrnents: Blve a true and falr vlew of the stste of the charws affalrs as at 31 March 2024 and of Its Incomlng resource5 and appllcatlon of resources, for the yearthen ended: have b¢en properly prepared In accordance wlth Unlted Klngdom Generally Accepted Accountln8 Prnctlce: and have been prepared In accordance wlth the requlrements of the tharlves Act 2011. Basls for oplnlon We conducted our audlt In.accordance wlth Intematlonal Stsndards on Audlttng (UK} {ISAs (VKI) and app1Sble law. Our respon51bllltles under those standards are further de%rlbed In the Audftors responslbllldesfor the Oudlt of thejlnandolststements sectlon of our report. We are Independent of the trust In accordance wth the ethlul requlremerts that are relevant to our audlt of the flmnclal ststements In the UK, 1ntludln8.the FRC5 Ethl¢al Stsndard, and we have fulfllled our other ethlcal responslbllStles In accordance wlth these requlreff*nts. We belleve thatthe audlt ev.Idence we have obtslned Ss sufficlent and approprlate to provlde a basls for our oplnlo Q>nduslons rnlatlnKto goln8 nCern In audlttng the flnanclal ststements, we have concluded that the trustees. use of the goln8 concem ba$ls of accountln8 In the prep8ratlon of the ftnanclal statsments Is approprlate. Based on the Work we hav• p•rtormed, w• hwe not Id•ntlfied ony mrt¢rl•l un¢ertslntleJ relaiing to events or ondltlons that, Indfvtdually Dr collectEvely, may cast slgnlfl¢ant doubt on the trust's ablllty to contlnue as a 8olng concern for a perlod of at least twelve months from when the financlal statemeiits are authorlsed for Issue. Our respon51blllrfes and the responslbllltle5 of the trustees wlth respect to golng concern are descrlbed In th8 relevant sertlons of thls report. Othwlnforniatlon The other Informatlon comprlses the Infonnètton Included In the annual report other than the finar£lal statements and our audltor's report thereon. The trustees are responslble for th.e other Information contalned wlthln.the annual reporL Our oplnlon on the finandal statements does not Cover the other Inforniatlon and we do not express any form of assurance eoncluslon thereon. Our responsibility is ts ad the other Inforrrntlon and In dolng so, conslder whether the other Inforniatlon Is materlally in¢onslstent wlth the flnanclal statents or bur knowledge obtslned In thÈ course of the audlt, or otherwlse appears to be materlally m15tsted. If Identlfy such materlal Inconslstencles or apparent materlal mlsstatements, we are required to deterniine Whettr th15 Blves rise to a materlal mlsststsment In the financlal statements themselves. l( based on the work we have perfomied. we conclude that there Is a materlal mlsststement of th15 other Informatlon, we are requked to report that fact. We have nothin8 to report In thls regard.
HOLBEACH AND EAsf ELLOE HosprrAL TRwr INDEPENDEiifAUDITOR'S REPORT (copifiNUED) TOTHE TRUSTEES OF HOLBEKH AND EAsf ELLOE HOSPITAL TRUST Matiers on whkh we ar• rnqukqd to r•port by exeptlon We ha¥e nothlng to POrt In respeLt of the followlng matter5 In relatlon to whlch the Chartiles (Accounts and Reports) Regulalons 2c8 requlre usto report to you If, In our oplnlon: thq informatlon 8fven In the finandaS 51atements15 Inconslstent in any materfal respert wlth the trustees, reportr, or sufficlent accountlrva records have not been kept,. or the finandal statements are not In agreement wlth the accountlng records; QT we have not re¢elved all the Informatlon and explanatlons we requlre for our audlL Responslbllltl•s of trust•es As explalned more fully In the statsment of trustees, responslbllllle5, the trustees are responslble for the preparatlon of the flnandal statsments and for belng satlsfied that they glve a true and falr vlew, and for such Internal control as the trustees determlne Is neEes5ary to enabl• the preparatlon of flnanclal statemÈnts that #re free from matsrlal mlsstatement, whether due to fraud or error. In preparlng the finandal Statements, the twstees are respon51ble for assessln8 the trusvs abuty to ntInue as a golng concem, dsdosln& as appllcable, matters rglated to golng concem and u51ng the 8olrkg nCern basls of a¢¢ountln8 unless the trusts•s•lther Intsnd to cease operatlons, or have no realtslfc 8lternJlive butto do so. A103 rosponslbllld•sfor thv •udlt of th• flnanclal st41•ments We have been aprA>lnted 45 Budftor under sectlon 144 of the Charltles Act 2011 and report In accorthnce wlth the Act and releRnt re8ulallon5 rnade or havlng.effertthereunder. Our objectlves are to obtsln reasonable assurance about whether the flnandal statements as a whok are free from materlal mlsstatemenl whether due to fraud or error, and to15sue an audlturfs report that Indudes our oplnlon. Reasonable assurnnce ts a hlah le¥el of SUrance but ts not a.guarantee that an audlt conthrted In cordance wlth ISAS IUKI wlll always detett 8 materlal rnlsstatement when It exlsts. Mlsstatem¢nts on arlse from ud or error and are consldered materlal If, Indlvldually or In the a88re8th, they could reasonauy be expected to Influence the economlc declslons of users taken on the basls of these finandal statements. The extent to whlch our procedures are upable of detectln8 Irregularltles, Indudlng fraud, Is detalled below. A fvrther desulpJon of our responslblllues Is wallable on the Flnonclal Reportln8 Councll's webslte atr httpsjl www.frc.org.uvaudltorsresponslbllftles. Th15 descrlptlon forms part of our audltor'5 report. Other matters Your attentlon ts drawn to the fact that the charlty has prepared ftnandal statements In accordaKe wfth 'Accountlng and Reportlng by Charltl& Ststement of Recommended Practlce appllcable to tharttles pRparln8 thelr accounts In accordan wlth the Flnanclal Reportlng stsndard appllcable In the UK and Republlc of Ireland IFRS 1021" {as amended) In preference to the Accountin8 gnd Reportln8 by Charltle5: Statement of Recomrnended Practlre Issued on l Aprll 2cI)5 whith Is referred to in the extant regulaUons but has now been wltlxlrawn. Thls has been done In order for the flnandal statementsto provlde a true and falr vlew In accordance wlth current Generally Accepted Accountln8 Practlce.
HOLBEACH AND EAsf ELLOE HosprrAL TRusr INDEPENDENT AIJDITOR'S REpoirr (corinNUED) TO THE TRUSTEES OF HOLBEACM AND EAsf ELLOE H05prrAL TRusr of our rnport Thls report Is made solelyto the cornparfs members as a body..In accordance wlth section 391 ofthe Companles Act 2014. Our audlt work has been undertaken so that we mlght Stats to the companvs members those rrotters WÈ are rnqulred to state to them in an audltorfs report and ft)r no other purpose. To the fullest extent peTrnltted by Iw we do notaccept or asgjme responslbllltyto anyone other than the companyand the compan$ membe as a body, for our audlt worl for thls rnPDrt, orftir theoplnlorts we fDnY*d. Josh Rowbottom (S•nlor StstiitOryAudltor) for and on b•hallof TCGroup 14 London Road Spaldlng Uncolnshlre PEII 2TA TC Group Is ellglble for appolntrrtent as audltor of the trust by vlrtue of Its ell8lblllty for appolntment as audltor of a company under sectlon 1212 of the,Companles Art 2006.
HOLBEACH AND EAsf ELLOE HosprrAL TRusr srATEMENT OF ANANCM AcrwmES INCWDING INCOME AND EXPENDITURE Accoupir FOR7HE YEAR ENDED 31 MARCH2024 Unrestrlctad Restricted fundj funds Total Unrestricted Regtrl¢t¢d funds 2023 2023 Income from: l)onattons and l•wle5 Charltsble actlvltles Othertrddlng a¢tlvltles Inv•Y¢ments 8L750 2,151339 35,635 11,220 8L750 1152339 35,635 11,220 804.246 2,012,189 21026 2217 804246 2,012,189 22,026 2217 Total Incom• 1280,944 8Oy4 2,840,678 2,540,078 Exp•ndftur• on: Charltsblé actlvftle5 2,423545 35,798 1459,343 2,183,033 39.910 2222,943 Totsl expendftur• 1423,545 35,798 1459,343 2,183,033 39,910 1222,943 N•t 8plnsl{losses) on Investments li (1961) 12,961) {12.1241 {11124) N•t Incom•/l•xpgndfturn) 1145,562) 135,798) 1181,3601 645.521 139,910) 605,611 Transfers betweèn funds 7,359 17.359} Net movement In funds 1145,562) 135,798) (181,3601 651880 147,269) 605.611 R•concMlatfon of funds: Fund balance5 at l Aprll 2023 2,006,843 973,n4 2,980,567 1,353,963 1,020,993 1374,956 Fund balancw at 31 Mah 2024 1,861,281 937,926 2,799,207 2,006,843 973,T24 2,980,567 The statement of financlal acttvltles Indudes all galns and losses recognlsed In the year. All IrLome and expendlture derlve from wnttnulng acuvlties,
HOLBEACH AND EAsf ELLOE HosprrAL TRusr BALANCE SHEEr ASAf31 MARCH1024 Tan8lble assets Investments 1,708,015 1,719,320 144fv53 1,708,015 1063,773 Current a51ets Stocks Debtors Cash at bank and In hand 9.866 224,741 978,361 17A91 814.156 402,933 16 1,212,968 L234,580 amounts falllng due YAthln on• year 1121,7761 1117,786) Net curr•nt •Mets 1,09L192 L116.794 Totsl all lom currnnt Ilabllftl 2.799,207 1980.567 Net assets excludln8 p•nslon Ilablllty 2,799,207 1980,56Y The funds of the trnst Restrlcted Income funds Unrestrlct8d funds 937,926 1561.281 973.n4 1006.843 1799,207 2WO.567 The flnondal ststements were approved tythe trustees on ... A>..". . 3¥knbef A024- Mr C J Penney Chalmwi of Tru5tB 10-
HOLBEACH AND ELLOE HosprrAL TRiIST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED31 MARCH2024 2024 Cash Ilows fivm oparntln8 a¢ll¥ltles Cash generated from operdtlons 26 72,283 Invwtlns 4cUvhle5 Purchase of trn8lble flxed assets Pr<Keeds from dlsp05al of Inve¥(ments Investment Income recelved [1,160) 141,492 11,220 1140,399) 902 N•t cash ynernt•d frornl(used In) 402 (139A97) Nat $h u5•d In flninEln8 acllvhl Net Incrn•se/ld•¢•j•j In cash •nd ¢osh •4ulvalgnts 580W8 (672141 C•sh and $h equlvalents at be8lnnlng of year 379,348 446562 Cash and ¢ash •quh•l•nts at and of y•4r 960,246 379.348 Rtlatltty. Cash at bank and In hand Bank overdrafts Included In credltors payable wlthln one year 978,361 402,933 118,115) 123,585) 11
HOLBEACH AND EAST ELLOE HOSPITAL TRusr NOTES TOTHE FINANCIAL STATEMEP4TS FOR THE YEAR.ENDED 31 MAR012Q24 A¢¢ountln8 pollc Charfty Informatlon Holbeach & East Elloe Hospltal Thist Is a Charftable Incorporated Dr8anlsatlon. In the event of the ch belng wound up. the Ilablllty In respert of the 8uardntee Is Ilmlted to £5 per member of the charlty. The nature of the charfty's operatlons and prlnclpal acilvltles are prfmarlly palllattve care Includlry the provlslon Df medlcal care and treatmenl nurslng and re51dentlal care to the people of the lo¢al ar Ll Affountl conventlon The flftanclal 'statements have been prepared In accordan wlth Accountln8 and ReportSng by Charlths: Statement of Recommended .Practlce applleable to charltles preparln8 thelr accounts In accordance wlth Flnanclal Reportlng Standard appIlble In the UK and Republ1¢ of Ireland IFRS 102), the Flnanclal Ikportlng Standards appllcable to the Untted Kln8dom ènd Republlc of Ireland {FRS 102), the Charltles Act 2011 andUK Generally Accepted A¢countln8 Prnctfce. Flolbeaeh and E8st Elloe Hospltsl Thist constStues a publlc benefit entlty as defined by FRS 102. Assets and Ilabllttfe5 are Inltlaliy reco8nlsed at hlstorfcal cost unless OtherSe stated In the relevant Jccojntlng pollcy notels}, The financlal slatements are presented In sterllng whlch ts the functlonal ¢urrency of the charlty. 12 Goln8 c¢nc•rn The trustses are of th8 oplnlon that the tharlty Is a golng concarn and the ftnanc181 statements love been prepared upon that basls. The trustees have consldered the level of funds held and the &(pected lttel of Income and expendlture Is sufflclent wlth the level of reserves for the charlty to be able to contlnue as a golng concern. However, It should be noted that the relevant Government bodles wlll only award annual Contracts. The trustees have no feason to expect that these contracts wlll not be renewed annLtally. IJ D•ffnltlon of Funds Unrestrlcted General Funds are those wallabl• for use at the dlscredon of the Trustees In the fherance of the objects of the ¢harlty and whlch have not been de51gnated for other purposes. Desl8nated Funds are unrestrlrted funds earmarked by the trustees for partlcular purposes. The alrn and use of each desl8nated fund.ls set out In the notes to the finandal statements. Restrlcted Fund5 are fund5 whlch are to be used In accordance wlth speclfic restrfctlons Imposed l¥ donors or whldi have been ralsèd by the charity for parttojlar purposes. The c05t of rdlslng and adffilnlsterlng such funds are charged.agalnst the spedfic fund. The alm and use of each restrlcted fund Is set out In the notes to the fiftanclal statsments. Endowment Funds represent those assets whlth must be held permanently by the tharlty. Income arf4ng on the endowment funds can be used In accordan wlth the objects of the charlty and Is Included as unrestrlcted Income. Any capital Ealns or losses arlslng on the Investments fomi part of the fund. Investment rnanagernent charges and legal advi reltng to the fund are char8ed a8aln5tthe fund. Restricted. funds are subJect to 5peclfic condltlons by donors or gfdntors a5 to how they may'be used. The purposes and use5 of the rertrirted funds are set out In the notss to the flnancial ststements. Endowment funds are subJett to speclflc conditlons by donors that the capltal must be mairrtalned byth trust. -12.
HOLBEP£H AND EAsf ELLOE HosprrAL TRusr WOTESTO THE FINANCIAL sfATEMENTS ICONTINUED) Accountin£ cl•S (Contlnu•d) L4 Income All Incorning resources are Included in the Statement of Flnandal Acttvttles (SOFA) when the tharlty Is legally entitled to the Income 4fter any performance condltlons have been met, the amount can be measured rellably and ft Is probable that the Income wlll be recelved. For donatlons to be reco8nlsed the charlty wlll have been noufied aft amounts and the settlement date In wrltln8. If there are condltlons attathed to the donatlon.and thls requtres a level of pwformance before entltlement can be gbtalned then income Is deferred untll those condltlons are fully met or the fulflment of those condltlons Is wlthln the control of the charlty and it ts probable that they w511 be fuffilled Donated facllitles and donated professlonal servlos are recognlsed In Income at thelr falr Ydlue when thelr econornlc benefit Ss probable. It Can be measured rellably and the d)arlty has control over the Item. Falr value15 determlned on the bosls of the value of the 81ft to.the tharlty. For oxamplo the amount tlE charlty would be wlllln8 to pay In the open market for suth facllltles and xr¥lcek A fL)rrespondl amount Is reco8nlged In expendlture. No amount Is Induded In the flnandal statsmentsforvolunteer Ilme In Ilne wlth the SORP {FRS 102). Where practlcable, glts In klnd donatsd for dlstrlbutlon to the beneficlarfes of the charlty are Included In stock and donatlon5 In the finan¢lal 5tstements upon CeIpt. If It Is Impractlcable to asse5S thefalr value at recelpt or ff the costs to undertake such a wdluatlan outwelgh any beneffts, then the falr Wdlue ts rwnlsed as a component of donatlons when It Is dlstrfbuted and an equlvalent amount recognIsed as charitsble expendlture. xed •sset 8ifts in klnd •re recognlsed when recelydble and are Induded at falr value. Th•y Irenot def•rr•d over the Ilfe of the asseL For le8acles, enthlemert Is the earfler of the charlty ixln£ nottfied of an lrnpendlng dlstrlbutlon arthe legacv beln8 recelved. At th15 polnt Income Is recognlsed. On occaslon le8acle5 wlll be nollfted to the charlty however It Is not posslble to measure the amount expected to be dtstrfbuted. On these occaslons, the le8acy Is treated as a rnntln8ent asset and dlsclosed. The charlty recelves govemrnEnt grants In respect of the tharStsble actlthes ft (arrles OUL namely the provlslon of care In njUnctIon wlth the NHS. Income from 8overnment and,other grants are recognl*d at falr value when the charlty has eniltlement after any performance condlilon5 have be¢n meL It Is probable that the Incorne wlll be récÉlved 2nd the amount can be measured r.ellably. If entStlement ts not metthen these amounts are deferred. 1Thstment Income 5s earned through holdlng assets for Investment purposes such as shares and property. It Indudes dmdends, Intsrest and rent. Where It Is not pracucable to Identlfy Investment managemert costs Incurred wlthln a scheme wlth reasonable accuracy the Investment Income Is reported net of these costs. It is Included when the.arnount can be measured rellably. Interest Income Is recognlsed uslng the effertlv• interest method and dividend and rent income Is recognlsed a5 the charltvs rlght to Ye1¥e payment Is estsblished. 13-
HOLBEACH AND EA5f ELLOE HosiYfAL TRUST NOTESTO THE HNANaAL STATEMENTS {CONnNUED) AC¢ount1 polld•s Icontlnuèdl Expendfture Expendlture Is Included on an oecruals basls, and has been dassffied under operatlonal h&idlry whlch reflect the general organlsatlon of the charlty. Expendtture Is recognlsed vA)ere there Is a lerdl or constructlve oblltslon to make payments to thlrd partles. It Is probable that the settlement wlll be requlred and the amount of the obllgatlon.can be measured rellably. Costs of generallngfunds Includes all expendlture Incurred In generdtlng Income for use by the charfty. Fundrdlslng costs Indude5 olpendlture relatlng to rdlslngthe profile of the charlty and fundr•lsln8 actmiles. Charltsble actlvltles Indude th• costs of the aclfvldes defined by the tharfty's al for.'the boieftt of the persons slted In the charlty obJert& Costs of charltsble acllvldeg Indudes the dlrect casts of the actlvltles and depreclaifon on related asset& Where such assets relate to more than one functlonal cost cate8Oryp they hwe been allocated on elther an esllmate tlme or floor space basls, as approprlate. Resources expended are allocated to the partlcular artlvlty where the costs relates dlrectty to th* acttvlty. Staff are alEocated to a partlcular actfvlty. but where they spend tlme on an altematlve acttvlty, thelr cost Is tlme apportloned. Support costs comprlses of costs for the runnlng of the charfty Itself a5 an ¢x£anlsatlon and are allocated b•tween the Ktlvltles of the charfty on the same basls as descrlbed above. Govèrnance $ts Indude the co#s of governance arran8ements whlch relate to the ¢enernl runnlng of the Charlty as opposed to the dlrect. management fvnetlons Inherent In 8eneratln8 funds. These acttvltles provlde the 8ovemance Inlrastructure whlch allow the Charlty to operate and to 8enerJts the Inforn)atlon requlred for publlc accountsblllty. They also Include the strdte8lc plannlng processe5 that contrltArte to the development afth• Charlty 1.6 Tan¥lble flx•d a#•ts T•n8lblè t1 assets are 1nltla1 measured at cost and subsequently me)wred at cost or valtmllon, net of depreclatlon and any Impalmient losses. Depreclatlon Is recognlsed so as to wrlts off the cost or valuatlon of assets less thelr resldual value5 0r thelr usefvl Ilves on the followln8 bases: Freehold prop&rty ' Land Securlty Equlpment Flxture5 and ffttlnES Office Equipment 4% per annum redudn8 balance NIL IO% per annum straight Ilne 20% per annum strdlBht Ilne 20% per annum stralght Ilne The galn or loss arlslng on the dlsposal of an asset Is determlned as the dtfference between the sate proceeds and the camlng Wdlue of the asset, and is reco8nlsed In the ststement of financlal actlvltles. -14-
HOLBEACH AND EAST ELLOE HOSPITAL TRUST NOTESTOTHE FINANCIAL sfATEMEKfs (CONllNUED) FOR 7HE YEAR ENDED 31 MARCH2024 Accountlng policl {C(Mrtlnu•d) Investments are recogni5ed Inltia15y at fdlr lue whlth15 normalSy the transactlon prfce excludTng tr4rwrtlon osts. Subsequently, they are measured at falr value wlth chan8es recognised In 'net gains.1 losses on Investments, in the SOFA If the shares are publidy traded or thelr falr value can othenv15e be rneasured rellably. Current asset IrNestments are short term hl8hty Ilquld Investments and are held at falr value. These Include cash on deposlt and cash equlvalents wlth a maturlty of les5 than one year. Other Investmerts are measured at C05t less impalrment. L8 Impalrni•nt Assets not measured at falr value are revSewed for any Indlcatlon that the asset may be Impalred * each balan¢e sheet date. If such Indlcatlon exw the retovetsble amount of the a55eL or the asset's t8sh 8enernttns unlt,1s ¢Sttrnated and comp•red to the carryln6 amount. Where the tanylng omount e%cee(ts Its recoverable amounL an Impalrment loss Is recoBntsed In profft and loss unles5 the asset b carrled •t a revalued amount wher¢ the Impalrment loss Is o revaluadon de¢rease. 1.9 5toG Stocks are valued at the lower of cost or net reallsableyalue. LIO Thxatlon The charfty Is an exempt charlty wlthln the rneanlng of schedule 3 of the Ch4rltles Act 2011 and Is consldered to pass the tests set Dut In Pardgrnph I Schedule 6 Flnance Act 2010 and therefore It meds the deflnltlon of a charlty for UK carporailon tsx purpo. Lll ProvIOn$ Prov151ons are recognlsed when the eharlty has an obllpuon at the balance sheet dats as J r•sult of a past evenL It 1$ probable that an outh¢)w of eMDomlc beneffts wlll be requlred In settlement and the amount ¢•n be rellably e5tlmatsd. L12 Employee benollts When employe5s have rendered servlce to the charlty, short terrn employee beneffts to whlch the emplOS are entled, are reco8nlsed at the undlscountsd amount expe¢ted to be pald for those sery15. The charlty operate5 a defined contrlbutlon plan for the benefit of Its employees. Contrfbutlons are ¥pensed as they become payable. L13 Retlrement ben•fits Payments to defined contrlbutlon retlrement benefit s¢hemes are chHf8ed as an expense asthey fall due. 1.14 Leas•s Rental costs under operattng lease5 are char8ed to the Statement of Flnanclal Acdvltle5 on a stral8ht Ilne basls overthe term of the lease. -16-
HOLBEACH AND EAST EOE HOSPITAL TRUSr NafES TOTHE FINANaAL sfATEMENTS (coKllNUED) A(Xni1 polld•s (Conthuodl 1.15 Judgeme$ and Krysources of E5tlmJilon Uncertalnty The prepardtlon of the flnanclal statements requlres rnanagement to make Judgements, esilmates and assurnptlons that affect.the amounts rept)rted. These estimates and Judgements are contlnually revleEd and are based on experlence and other factors Includln8 expectattons of.luture Èvents th are belknd to be reasonable under.the drcum5tance& The followlng Judgements and estlmates have been made In the process of applyln8 the alxNe accountknll pollcles that have had the most sl8nlficant effect on amounts recognlsed In the Ilnanclol statementr Tanglble fixed assets- In order to calculate depreclatlon an estlmatlon must be made of the useful oconomlc Ilfe of each asset along wlth an esdmate of the Wdlue of the asset at the end of that tlme based on prlce5 prevalllng at the balance sheet date. Detslls of thls Item Is Induded wlthln the accountln8 pollcles below. L16 Value Added Tax Currently, Value Added.Tax15 not recoverable by the Chirlty and as suth Is Included In the rnleyant costs In the Statement of Flnanclal Actlvltle5. L17 D•l*orn mdltors recelvabl•.I payable wfthln on• year Debtors and credltors wlth no ststsd Intsrest rate and re1vable or payable wlthln one year are recorded at transacuon prlce. Any k>sses arlsln8 from Impalnnent are recognlsed In expendlture. Crftlcal aOttIng¢sm8t•s and Judgements In the appllcatlon of the trusvs acCoUnrY4 pollcles, the trustees are requlred to makojudgernents, estlmates and assumpllons about the carrylng amount of assets and Ilablllttes that are not read] apparent fThn other sources. The estlrnates Bnd a550clated assumptlons are based on hlstorfcal experlence and other fartQT5 that •rn conskl•red to b• •V•t. AGtu•l r¢sufts may dlffer from these esUmate& The ertlmates and underlylng assumptlons are revlewEd on an ongoln8 basls. Revlslons to a¢¢ountlng esilmates are reco8nlsed In the perlod In thlch the estlrn3te Is revlsed where the revlslon affects only that perlod, or In the perlod of the revlslon and future perlods where the revlslon afferts both current and ftrture perlods. Incorrie from donatlon5 and1¢8ades nds funds Donafjons and gifts Legacles recehable Grants reolved 73.313 8A37 46,120 749,344 8,782 81.750 804.246 16-
HOLBEACH AND EAff ELLOE HosprrAL TRLisr NOTE5 TOTHE FINANCIALsfATEMEt¥rs ICONfiNUED) 7HE YEAR ENDED31 MARCH2024 Incom•fr(wn d¢xwtsns and l¢8ad•s Icanthu) In September 2023 and March 2024 a totsl of £629,437 was CeiVed from the late J Stupple. £621,000 of this legacy was reco8nised In the 2023 financTal statements with the remainlng £8 437 recognised in the 2024 flnanclal statements. Incom• from drItable aetsvld85 Unrestrlrted Unrestrlcted funds funds 20Z4 2023 Fees recelvgd - Nurslng Home Fees fecelved - GP Beds 1,896N51 255.888 L760O25 251.3 2,152,339 2,012,189 Income from othertradlnz acdvlll•% UnreM*kt•d Unrertrfrt•d funds funds 2024 2023 Fundrnlsln8 events Other Income. Renewable Heat Incendve IRHI) 1,326 L938 32.371 385 2,802 18,839 Other tradlng actlvltle5 35,635 21026 kn¢pme from Investments UnM5trktqd Unr•rtrlct•d funds fund5 Z023 Dfv5dends Interest reeelvable 755 10,465 655 1,562 11220 2,217 17-
Ipi 1114 mrnq4 2#89: X80) ¢vJ rn 8ffi 4 ffl LV * th Lfi rf m pb O Js31 jiili&l32
HOLBEACH ANDEAsf ELLOE HOSPITAL TRusr NOTES TOTHE FIPiANaAL sfATEMENTS (CONTINUED) Expendllure on ¢harftable a¢1hleS (Contknuad) Induded wlthln charltable actlvltles are Inwtment mana8ers' fees amountlng to (2023- £1.4621 N•t movemort In fundo The net movement In funds Is stated after charg1n(credItln&).. l)eprecl8tTon of Owned tsn8lble flxed assets 123,465 116,479 None of the trustees {or any per50n5 conftected wlth them) re¢•lved any remuneratlon or beneffts fran the trust durfngthe year. 10 Emplwi The averdp monthty nurnber of employees durlng the yearw45: 2024 Numbqr ' Nwnber Key management personnel Admlnlstra Hos#itsi Servlces 88 93 Employment ¢05ts 2024 2023 Wa8e5 and.salarles Sodal securfty Costs Other penslon costs 1,673,882 115,725 35.190 L513,767 106,071 30,967 L824,797 1,650.805 There were no employees whose annual remuneratlon was more than £60,CIJO.
HOLBEACH AND EAST ELLOE HOSPITAL TRUST NOTES TO THE FINANCIALsfATEMENTS {cofffiNUEDI FOR ThIE YEAR'ENDED31 MARCH 2024 10 Employe (Conllnued) Ramuneration of key managem•nt personnel The rernuneratlon of * management personnel was as follows: 2023 A88re88te c(xnpensailon 147,011 115,025 11 Galns and losses M Investments Unr•strlrt•d Ilnrestrlrt•d fun fundj 2023 Galnsl(losses) arlslng on: Sale of Investments 12,961) 111124) The charlty Is wmpt from tsxadon on Its athltles,because ill its Income Is applled for charltable purpDS05. -21-
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HOLBEACH AND EAsf ELLOE HOSPITAL TRusr NOTESTOTHE FINANCIAL 5TATEMENfs (CONTINUED) FOR ThIE YEAR ENDED31 M4RCH2024 14 Flxed asset Investments Ustqd In¥utmonts Inbystments Cost or valuallon At l Aprll 2023 Dtsposals 121,984 (121,9841 22h69 (228691 144,453 (144,453) At 31 March 2024 Canylw amount At 31 Marth 2024 At 31 March 2023 121,984 22,469 144A53 Sto Stock CF Food Stock of Consumables Stock of Stsllonery stock of Heatlng 011 2,226 3,098 L854 1,913 6,653 4,022 4,903 966 17,491 16 Debtors 2024 2023 Amounts falllnz due wtthln on• year. Trade debtors Acuued Income debtor Prepayments and accrued Income 157,678 41,544 25,519 143,864 644,977 25,315 224,741 814,156
HOLBEACH A.NDEAsf ELLOE HOSPITAL TRusr NOTES TOThE FINANcL$fATEmEPirS (cownNUED) 17 Loans and Oveft$ 2024 2023 Bank overdrafts 18,115 23.585 Payable wlthln one year ,1 2385 18 Cradltors: Knouiits fallln8 due wlthln one par Not0$ Bank overdrafts Other tsxatlon and $odal secur]ty Trade credltors Other credltors Ae¢ruals and deferred Income 17 18,115 24,876 55399 8,683 14,703 28.479 20,239 17,807 27,676 12L776 117,786 19 Penilons and othr post.r¢tlroment benqffts 2023 Charge to prnfft or loss In respect of deflned contrlbutlon scheme5 35,190 30,967 The charFty operate5 3 deflned contrlbutFon penslon plan for Its employees. The amount recognlsed as an expense In the perlad was £35,190 {2023 £30,9671. There are defined contrfbutlon Ilabllitles amountkn8 to £8292 (2023.£7,9971 allocated to Charltable actlvltles.
HOLBEACH AND EAsf ELLOE H05prrAL TRU5r NOTESTO THE FINANCIAL STATEMENTS {COPrnNUED) FOR THE YEAR ENDED 31 MARCH2024 20 Restrkted funds The r95trlcted fund5 of the charlty comprtse the unexpended balance5 of donatlons and grants held on trust subject to speclfic condttlon5 by donors a5 to how they may be used. At l Aprll 2023 InMmln¥ Resourw Transrers resou@$ exp•nded Galns and At 31 Marth loss•$ League of Frlend5 Equlpmentfvnd Bulldlngs fund Equlpment fund Grounds and Garden fund Staff and Patlent Care 70,444 778,446 75,414 14.2651 (23.5671 16.7441 6&179 754O79 68,670 25,017 (¥003) 24,014 24.403 (219) 973,T24 (35.7981 937.926 The League of Frfends Equlpmerrt Fund Is to be used for the purchase of equlpment as requlred In the HospltsS. In the event of an unused surplus, thls should be returned to the donor. The Bulldln85 Fund Is desl8ned to encompass all funds as50clated wlth the purchase and renovatlon of bulldlng5. In the event of a deficlt, thls Is to be Met by unrestrlrted funds. In the event of an unjsed 5urplu5, thls should be returned to the donor. The Equlpment Fund Is desSgned to encompass all funds relatln8 to equlpment purchased and used In the hospitsl. In the event of a deficlt, thts Is to be met by unrestrl¢ted funds. In the event of an Uned surplus, thi5 sh(wld be returned to the donor. The Grounds and Ganlen Fund Is deslgned to encompass all funds related to the malntenance of the grounds and garden. In the event of a deflcit, thts is to be met by unrestrlcted funds. In the event of an unused surplus, thls should be returned to the donor. The Staff and Patlent Care Fund Is desl8ned to encompa55 all fund5 related to staff and patlent care, In the event of a deficit, thls Is to be met by unrestrlcted funds. In the event of an unused 5urplu5, th15should be returned to the donor.
TrK)LBEACH AND EASf ELLOE HOSPITAL Trusr NufESTO THE FINANCIAL sfAIEMENTS {coiinNUED) FOR 711E YEAR.EAfDED31 AlARCH2024 21 .Unrastrfrt•d funds The unrestrlcted fund5 of the charlty comprise the unexpended balances of donattons and grants whlth are not subject to 5pecffi¢ condlilons by donors and grdntor5 as to how they may be used. These Include deslgnated funds whlch have been set aslde out of unrestricted funds by the trustees for specmc Purpose& At l Aprll 2023 In¢omlng Rosourc rasources empended Tr#nsfar• Galns and At 31 Marfi Hobbles Louh8• General funds 29.110 1.9TI.733 29.110 103iin 2,280.944 11423.5451 12,9611 2.006,843 2.280.944 {1423,5451 (2,961) 186L281. P0$ ar. At i Aprfl 2022 Incomlng Resour¢•s Transfe G•lM and At 31.MwJKh IoM•s Hobbles Loun8e General funds 29,110 1,324,853 29.1 112.124) L977.733 2,840.678 (2,183.033) 7,359 1,353,963 2,840.678 {2,183,0331 7,359 112,1241 2,oL,843 Hobbles Lounp fvnd Thls fund Is to be usd to convert D•y Room I Into a b•spoke Hobblw Lo¥n8e fvr the re¥ld•nts undpatlenu. In the event of an unused surplus, the Trustees wlll redesl8nate the remalnlng fund5 to a future project 22 Analysk of n•t a#sets betsv8•n funds fimds nds 2024 At 31 March 2024: Tanelble assets Debtors: Amoufits fallln8 due wlthln one year Cash at Bank and In Hand Stocks Other Credltors 989.379 224.741 759,on 9,867 {121.777) 718,636 708,0 224 741 978,361 9A67 (ill,7n) 219290 l861,281 937?26 1799,21T7
HOLBEACH AND EAST ELLOE HOSPITAL TRUST P40TES TO THE FINANCIALsfATEMEKrs {corinNUED) FOR THE YEAR ENDED31 MARCH2024 2Z Anal5 of net awts between fund5 {Conllnuedl Unr•strl¢t¢d Restrlcted funds fvnd$ ZOZ3 2023 2023 At 31 Marth 20&. Tan8lble assets 964,886 754h34 1,719,320 144.453 814,156 379,348 17,491 (94,201) Debtors.. Amounts falllng due wlthln one year Cash at Bank and In Hand Stocks Other CredStor5 814,156 160,058 17,491 194,2011 219,290 2,006,843 973.n4 1&80,567 23 Operdtlng lease commltments At 3tst March the charlty had totsl future mSnlmurn l•ase payrnents under noTrcancellable operatln8 leases a5 set out below:. 2024 2023 Wlthln one year Between two and Ilve years 15,970 12,453 19,724 26,398 46.122 24 Related pwtytrnn5Irttons There were no d15closable related party transactlons during the year12023- none). 25 Controllln8 Partlos There ts no overall controlllng party. Each member of the ao Is Ilable to contribute to the ass*5 of the CIO such amount {but not more than £5} a5 may be required for payment of the debts and Ilabllltlesof the CIO ¢ontrdrted before that person or organlsatlon ceases to be a member. The Management Commlttee contnl the charity as a body. No slngle member can or does exerclse any indlvidual cortrol.
HIXBEACH AND EAsf ELLOE HosprrAL TRusr Miires TO THE FINANCIAL SNTEMEPllS (CONTINUED) FOR 7HE YEAR.ENDED.31 MARCH2024 26 Cash £enaiatsd from op•raiJons {Defi¢ltVsurpus forthe year 1181,360) 605.611 Adjustments for: Investment Income reco8nlsed In statement of finandal actlwltles Lots orydlsposal of Investments Depreclatton and Impalrment of tsn8lble fixed assets (11,2201 2,961 123,465 12.124 116An MmentS In workin8 capltsl: Decrease/(Increasel In stocks Decrease/(Inereasel In debtors Increast In credltors 7.625 589,415 9,460 (608) 1667. 242) 8,144 sh ynert•d from operatlon$ 540,346 n283 27 Anatysl$ ol ¢han895 In n•tfvnds The trust had'no materlal debt durln8 the year.