## **THE AUSTIN MEMORIAL AMLSHOUSE CHARITY** ## **TRUSTEES' ANNUAL REPORT** ## **FOR THE YEAR ENDED 30 SEPTEMBER 2023** ## **CHARITY REGISTRATION NUMBER 1000628** ## **The charity's principal address is:** Townhall Magdalene Street Glastonbury BA6 9EL ## **Names of the charity trustees:** Elizabeth A Pearson Zoe J Price Jonathan F Cousins Michael G White Margaret E Morris John S Keery ## **Structure, governance and management** The governing document is that of a standard charity and was registered with the Charity Commission on 1 November 1990. Its trustees are appointed at trustee meetings and new trustees are invited by members of the board as required. Trustees are elected for a period of maximum 5 years after which there must be an election. ## **Objectives and activities** The charity provides accommodation for poor women of not less than 60 years of age and who have lived in Glastonbury for at least 5 years prior to appointment. ## **Achievement and performance** The charity aims to keep the properties in good condition for the residents. In 2023 new bathrooms and kitchens were installed in 2 properties. General maintenance included gardening and window repairs. ## **Reserves Policy** The management committee have established a policy whereby the unrestricted funds not committed or invested in tangible assets held by the charity should be between 3 and 6 months of the resources expended. The charity holds sufficient funds to meet the requirements to maintain the building to a high living standard. The trustees declare that they approved the trustees' report above. Signed on behalf of the Charity Trustees Elizabeth Pearson, Chair Date.. 7" January 2026 Austin Memorial Almshouse Charity ANNUAL ACCOUNTS FOR THE YEAR ENDED Accounts Year Ended 30th September 2023 CONTENTS PAGE Trustees, Annual Report Report of the Independent Examiner Statement of Financial Activities Balan￿ Sheet 5f7 Notes to the Accounts Austin Memorial Almshouse Charity TRUSTEES, ADVISORS and BANKERS TRUSTEES Chairman Mrs P Burrough Secretary Cllr J Keery Cllr J Brunsdon MrBLow Cllr J Coles Cllr S Thurgood Mr E Higgins MANAGING AGENTS Glastonbury Town Hall Magdalene Street Glastonbury Somerset BA69EL CLEARING BANKERS Natwest PIC 72 High Street Street Somerset BA160EL REGISTERED ADDRESS clo Glastonbury Town Hall Town Hall Glastonbury Austln Mèmorial Alrnshouse Charity Ststsmènt of Financial Activities Fortho ygar *nded 30th September 2023 2023 2022 UNRESTRICTED FLINDS Income Resour¢os Weekly Maintenance Conlribulion Receivable Inv88tm8nt Income DoposII Account Income i5¢o118neous Income 22.429.00 150.92 1.926.25 805.50 25.311.87 20,300.00 149.77 1,438.14 150.00 22,037.91 Dlr8¢t EX￿nd[tur• Insurance Repairs and Equlpment Management F8a 453.41 8,731.61 4,026.68 0.00 413.47 8,350.99 2,329.10 MiscellaneoLSS 0.00 13.213.68 11,093.58 Other Expendlturo Indgpendenl Examiner Fee 0.00 Totsl Exp•ndltur• 13,213.68 11,093.58 Income Surplu8 IDefl¢ltl for the Year 12,097.99 10,944.35 Rev8luAtion of Invè#lmen18 Surplus {Deficill after waluation of Investments 17.692.35 12,934.40 Total Fund8 Brought Forward 202.801.35 189,8e6 95 Totsl Funds Carrfed Fonygrd 220,493.70 202,801.35 Page 3 Austin Memorial Almshou￿ Charfty Balanu Shfjot As at 30th September 2023 2023 2022 Flxed A886ts Major Repairs Lgss.. Grant Received Investments 5,tX#J.00 0.00 63.026.80 5,CW.00 0.00 57,432.44 68.028.80 62,432.44 Curr•nt Assets Debtors and Prepayments Bank 234.29 140.605.76 140.840.05 153,348 04 154.148.04 Current Llabllltle8 Credrtors & AcGwal8 1.681.14 471.14 471.14 Not Curr•nt A$80ts 152.486.90 140.￿8.91 Exe089 of Assets ovgr Current U•blllilo8 220.493.70 202,80135 Represented by: General Re8eNe Account Cyclical Maintenance Fund 210,￿23.40 9,570.30 193,231.05 9,570.30 220,493.70 202,801.35 Signed on ￿haIr of the trustees .. Chaimwi . Trustee Date...... Page 4 Au$tln Memorial Alrnshouse Charlty Notes to the Accounts 1. Accounting Policies Income an Income and expendffure are prepared on an accrua￿ ba￿s. Fixed Assets Fixed assets are not depreciated since they represent improvements which are maintained to ensu￿ there is no diminijation in value. The properties known as The Ausbn Memorial Almeshouses are not included in the accounts since they fomi and integral part of the charity's objectives. Inves Investments are ststed at their market value at the balance sheet date. Investn￿nts The Charty purchased 2,544 COIF shares in 1979 at a cost of £3365.66. The valuation of these shares at 30th Seplember 2023 was £47,024.31, compare111o the value at 30th September 2022 #¢ ¢aR4n4 The charty ha8 124 COIF shares. The valuation ofthese shares at 30th September 2023 was £2,292.07. The valuation of these shares at 30th September 2022 was £2261.80. The Charity ha3 153 COIF shares. The valuation of these shares at 301h Septomber 2023 wa5 £2,828.11, the valuation of these shares at 30th September 2022 was £2,790.77. The Charity Purcha￿ 374.71 Charico Common Investment Fund Distribution Units in 1981 at cost of £459.62. The valuation of these shares at 30th June 2023 was £522_33, compared lo the value at 30th June 2022 was £601.53. 2023 2022 Debtors and Pre me Weekly Maintenance Contribution in Arrears 800.00 234.29 800.00 234.29 Cash at Bank Na*Nesl Bank statement number 341 Less Unrecon¢iled cheques Balance in the accounts 131,213.04 120,397.01 131,213.04 120,397.01 Deposit Account 22,135.00 20,208.75 153,348.04 140,805.76 Page 5 Austin Memorial Almslbouse Charlty Notes to the Accounts - Continued 2023 2022 C￿d[torS Weekly Maintenance Contn"bution in Advance Acccountsncy Acccrual Glastonbury Town Courtcil Management Fee Independent Examiner Fee 361.14 1.320.00 0.00 0.00 471.14 0.00 0.00 0.00 1,681.14 471.14 General Reserve General Reserve is the accumulated surplus or deficiÈ Balance at the Beginning of Year 193.231.05 180.296.65 Plus.'Surplusl(Deficit} for the Year 12.097.99 10,944.35 Plus.. Surplusl(Deficit} on revaluation 5,594.36 1.990.05 Balarice at 30th September 210,923.40 193.231.05 lical Maintenance Fund Cyclical Maintenance Fund for the purpose of providing for those rtems of ordinary maintenance and repair ofthe almshouses which recui at infrequent intervals. Provsion at 8eginning of Year Add.. Charge to Income arKI Expenditure 9.570.30 0.00 9,570.30 0.00 B81ance at 30th September 9.570.30 9,570.30 Page 6 Austin Memorial Almshouse Charlty Notes to the Accounts- Contlnued lo infomiation The Charity had no employees during the year. 9. Trustee Information No trustee received any payment for Servi￿ tErfomed or to reimburse any expenditure they incurred. 10. Taxation Austin Memorial Almsh¢xBe Chatity is a r8Jistwed Charity, and is. therefrire, exempt from any liabilty to taxation on its Irwme and Capital Gains Page 7 Austin Memorial Almshouse Charity Independent Examination 30 September 2023 Elections andappolntments Selwood Acwurbts and Tax Ltd has been appointed to prepare the accounts and undertake the independent examination. The tnjstees elect, settion 133 of the Charities Act 2011. to prepare Receipts and Payments Accounts. Trustees elect for independent examination (under Charities Act 2011 section 1451111. Confinntttions There are no subsidiaries or branches of the charty. There are no grant conditions demanding an audit of the accounts instead of an independent examination. The tharitvs code of conduct, objectives, organisational structure and tts artivities have not changed since its fomiation. The charity has sufficient funds to pay all tts debts and meet its financial obligations. The trustees have no reason to believe that the charity will run out of funds in the foreseeable future. No restricted donations lif any) were received during the year. all donations were unrestricted. Austin Memorial Almshouse Charity or its trustees are not, acting as custodian trustees for other charities (Explanation of custodlan trustee- a custodian trustee is a corporate body. such as a Parish Council or the Official Cust(bdian of Charttse5. Whilst the Custodian Trusteè hold5 the title tts all propèrty on behalf of the charity. it (fjoes not take part in the day-to-day management and operation of the charity) Signed by.. Trustee On behalf of Austin Memorial Almshouse Chartty Date..