| ONTENTS | |
|---|---|
| ORIGINS OF THE CHARITY | |
| STRUCTURE AND GOVERNANCE | |
| ACHIEVEMENTS AND PERFORMANCE |
|
| FINANCIAL REVIEW. | |
| TRUSTEE RESPONSIBILITIES. | |
| INDEPENDENT AUDITOR'S REPORT | |
| STATEMENT OF FINANCIAL ACTIVITIES.. | |
| BALANCE SHEET | |
| NOTES TO THE FINANCIAL STATEMENTS | |
| REFERENCE AND ADMINISTRATION | DETAILS. |
| malgama | ted the following |
three chariti | es: | ||||
|---|---|---|---|---|---|---|---|
| Charl | name | Hlsto | |||||
| City of London Freemen's | Houses | Regulated by |
a conveyance | dated | 1 | ||
| January 1848and comprised | in a | ||||||
| Scheme ofthe Charity Commissioners | |||||||
| ofthe19Au | ust1975 | ||||||
| Roger's | Almhouses | Comprised in |
a declaration | oftrust | |||
| dated 15Jul | 1858 | ||||||
| Brown's | GiR | Regulated by |
declaration | of | trust dated | ||
| 22 March 1934 |
| 2020/21 | 2019/20 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unresbicted | Restricted | Endowment | Total | Total | |||||
| Notes | Furds | Funds | Funds | Funds | Funds | ||||
| 5 | |||||||||
| Income from: | |||||||||
| Charibtble acfiviTies |
2 | 314,966 | 314,966 | 301,098 | |||||
| Investments | 3 | 39,324 | 39324 | 32,731 | |||||
| Total Income | 354,290 | 354,290 | 333,829 | ||||||
| Expenditure on: | |||||||||
| Raising funds | 4 | 350 | 350 | 892 | |||||
| Charitable acgvilies |
5 | 269,865 | 289,885 | 254,329 | |||||
| Total ex endgure | 270,215 | 270,215 | 255,221 | ||||||
| Net gains/(losses) | on investments | 10 | 150,244 | 150,244 | (139,703) | ||||
| Net gains/(losses | on short | term deposit | 564 | 564 | |||||
| Net movement In |
investment | 150,808 | 150,808 | (139,703) | |||||
| Net Income/(expenditure) | and net movement | in funds | 234,883 | 234,883 | (61,095) | ||||
| Reconciliation offunds: | |||||||||
| Tolal funds brought | forward | 15 | 1,514,623 | 1,319,751 | 37,648 | 2,872,022 | 2,933,117 | ||
| Total funds carried forward | 15 | 1,749,506 | 1,319,751 | 37Ir48 | 3,108,905 | 2II72,022 |
| Notes | 2021 | 2020 | |||
|---|---|---|---|---|---|
| Total | Total | ||||
| 8 | 8 | ||||
| Fixed assets: | |||||
| Tangible assets Investments |
9 10 |
1,764,496 1,690,267 761133610889 |
|||
| Total fixed assets | 2sas 829 | 2.30«se | |||
| Current assets Debtors |
11 | 17,28344,980 | |||
| Cash at bank and | In | hand | Tst Tss | 7es,ogg | |
| Total current assets | 809,078 | 810,079 | |||
| Creditors: Amounts | falling due within one year | 12 | (85,851) | (80,811) | |
| Net current assets | 723227 | 729267 | |||
| Total assets less | current SabSltles | S,248856 | 3.030,424 | ||
| Creditors: Amounts | faSlng due after mors than one year | 13 | (141,951) | (158,402) | |
| Total net assets | 3,106,905 | 2,872,022 | |||
| The funds ofthe | charity: | ||||
| Endowment funds |
15 | 37,648 | 37,648 | ||
| Restricted funds | 15 | 1,$19,751 | 1,319,751 | ||
| Unrestricted funds |
15 | 1,749,606 | 1,514,623 | ||
| Total funds | 3106906 | 2,872,022 |
| Unrestricted | Unrestricted | funds | Unrestricted | Unrestricted | funds | funds | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Direct | Support | Total | Direct | Support | Total | |||||
| costs | costs | 2020/21 | costs | costs | 2019/20 | |||||
| f | f | f | f | f | f | |||||
| Almshouses | running | costs | ||||||||
| Management | 110,589 | 110,589 | 82,055 | 82,055 | ||||||
| Services | 95,478 | 95,478 | 94,415 | 94,415 | ||||||
| Routine maintenance | 22,086 | 22,086 | 39,735 | 39,735 | ||||||
| Planned maintenance |
13,941 | 1$,941 | 20,308 | 20,308 | ||||||
| Supplementary | Revenue Projects | 554 | 554 | 10,516 | 10,516 | |||||
| Contributions | to Funds and Provisions | 19,917 | 19,917 | |||||||
| Depreciation | ofhousing properties | 7,300 | 7,300 | 7,300 | 7,300 | |||||
| Total | 159,276 | 110,589 | 269,865 | 172,274 | 82,055 | 254,329 |
| Within charitable activities are the s |
ervices costs, comprised of: |
|
|---|---|---|
| 2020/21 | 2019/20 | |
| f | f | |
| Lighting | 3,554 | 1,057 |
| Matrons | 52,972 | 46,371 |
| WIndow Cleaning | 1,473 | 8&4 |
| Water Rates | (21) | (83) |
| Groundsman | 25,904 | 24,875 |
| Rent | 5,595 | 7,177 |
| Council Tax | 4,351 | 11,659 |
| Pest Control | 540 | 2,475 |
| Total | 95478 | 94,415 |
| harity | wer | e as f | ollows: | ||
|---|---|---|---|---|---|
| 2020/21 | 2019/20 | ||||
| f | f | ||||
| Salaries | and | wages | 59,$99 | 53,688 | |
| National | Insurance | costs | 6,075 | 5,351 | |
| Employer's | pension | contributions | 13,402 | 12,207 | |
| Total emoluments | ofemployees | 78476 | 71,246 |
| TANGIBLE FIXED | ASSETS | ||
|---|---|---|---|
| Land and Buildings | Work in | Total | |
| Progress | |||
| Cost | |||
| At 1April 2020 | 1,763,430 | 85,587 | 1,849,017 |
| Additions | 81,529 | 81,529 | |
| Dis oasis | |||
| At 31March 2021 | 1,763,430 | 167,116 | 1,930,546 |
| Depreciation | |||
| At 1April 2020 | 158,750 | 158,750 | |
| Charge forthe year | 7,300 | 7,500 | |
| Disposals | |||
| At 31March 2021 | 166,050 | 166,050 | |
| Net book value | |||
| At31March 2021 | 1,597,380 | 167,116 | 1,764,496 |
| At 31March 2020 | 1,604,680 | 85,587 | 1,690,267 |
| he value of | investme | nts held by the charity a |
re as follows: | |
|---|---|---|---|---|
| 2021 | 2020 | |||
| k | ||||
| Market value | 1 April | 810,889 | 1,183,278 | |
| Disposals | (432,686) | |||
| Gain/ (loss) for the year | 150244 | 139703 | ||
| Market value | 31 March | 781,133 | 610889 | |
| Cost 31 March | 417370 | 417370 | ||
| Units held in |
Charities | Pool | 88077 | 86077 |
| Total at 31 | Total at 31 | |||
|---|---|---|---|---|
| March 2021 | March 2020 | |||
| 8 | ||||
| Equities | 710,058 | 542,363 | ||
| Pooled Units | 40,717 | 44,065 | ||
| ~Cesh held h | Fund uen | er | 10380 | 24,461 |
| Total | 761,133 | 610889 |
| 2021 | 2020 | ||
|---|---|---|---|
| E | |||
| Trade creditors | 70,988 | 57,987 | |
| Other creditors | 12,234 | 22,824 | |
| Deferred income | 2831 | ||
| Total | 85851 | 80,811 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| E | E | ||||
| Deferred | income | 141,951 | 145,440 | ||
| Other creditors | 12962 | ||||
| Total | 141951 | 158,402 | |||
| 2021 | 2020 | ||||
| Deferred | Income | analysis within creditors: | E | E | |
| Balance | at 1st April | 145,440 | 145,440 | ||
| Amounts | released | to income | |||
| Amounts | deferred | in the | ear | 858 | |
| Balance | at 31 March | 144,582 | 145,440 |
| Unrestricted | funds | |||||
|---|---|---|---|---|---|---|
| Endowment | Total at | Total at | ||||
| Designated | funds | 31March | 31 March | |||
| General funds | furds | 2621 | 2020 | |||
| 2 | 2 | 6 | 8 | 6 | ||
| Tangible fixed assets | 277,629 | 167,116 | 1,319,751 | 1,764P96 | 1,690,267 | |
| Fixed assets - irwsetments | 686,468 | 175,675 | 781,133 | 610,889 | ||
| Current essels | 771,430 | 37,648 | 809,678 | 810,079 | ||
| Total fiabfiltlss | 227802) | 227 02 |
239,213 | |||
| Total | 1,406,716 | 342,791 | 1,319,761 | 37,648 | 3,168906 | 2,872,022 |
| Unrestricted | funds | |||||
|---|---|---|---|---|---|---|
| Restricted funds | funds | Tolal at 31 March |
Total at 31 March |
|||
| General funds | funds | 2020 | 2019 | |||
| f | 6 | 2 | ||||
| Tangible fixed assets | 284,929 | 85,687 | 1,319,751 | 1,690,267 | 1,643,312 | |
| Fixed assets - investments | 468,968 | 161,931 | 610,889 | 1,183,278 | ||
| Current asseh | 772,431 | 37,646 | 810,079 | 348,837 | ||
| Total fiabilities | (239,213) | 239213 | ~242,310 | |||
| Total | 1,277,106 | 237,518 | 1,319,751 | 37,648 | 2,872,022 | 2,933,117 |
| Total as at | ||||||
|---|---|---|---|---|---|---|
| Total as at 1 | Gains & | 31 March | ||||
| At31March 2021 | April 2020 2 |
fitcome F |
Expenditure 8 |
(losses) 2 |
Transfers F |
2021 f |
| Endowment funds: |
||||||
| Permanent endowment |
37,648 | 37,848 | ||||
| Restricted funds: | ||||||
| Social Housing Grant | 1,319,751 | 1,319,751 | ||||
| Unrssb icted funds: | ||||||
| General funds | 1,277,105 | 354,290 | (270,215) | 127,064 | (81,529) | 1,40$,715 |
| Designated ftsxfs: |
||||||
| Cyclical repairs | 36,000 | ~ | 36,000 | |||
| Capital reserves fund | 85,587 | 81,529 | 1$7,118 | |||
| Extraordinary repairs |
115,931 | 23,744 | - | 139,875 | ||
| Total unrssbicted funds |
1,514,623 | 354,290 | (270,215) | 150,808 | - | 1,749,508 |
| Total funds | 2,872,022 | 354,290 | 270,215 | 150,808 | 3,10$,905 |
| Total as at | ||||||
|---|---|---|---|---|---|---|
| Total as at | Gains & | 31 March | ||||
| At31 March 2020 | 1 April 2019 | btcome | Etrpendltura | (losses) | Transfers | 2020 |
| 5 | 5 | 8 | 5 | 5 | 5 | |
| Endowment funds: |
||||||
| Permanent endowment |
37,648 | 37,648 | ||||
| Restricted funds: | ||||||
| Social Housing Grant |
1,319,751 | 1,319,751 | ||||
| Unresbicted funds: |
||||||
| General funds | 1,370,377 | 333,829 | (255,221) | (117,625) | (54,255) | 1,277,105 |
| Designated (tide: | ||||||
| Cyclical repaim | 36,000 | 36,000 | ||||
| Capital resenres fund | 31,332 | 54,255 | 85,587 | |||
| Etrbaordine re airs |
138009 | 22,078 | - | 115,931 | ||
| Total unrestricted fels | 1,575,718 | 333829 | 255221 | 139,703 | - | 1,514.623 |
| Total funds | 2.933,117 | 333.829 | 255,221 | 139703 | - | 2872,022 |
| Related party | ||||||
|---|---|---|---|---|---|---|
| transactions | ||||||
| Detail of | ||||||
| Related party | Connected | party | 2020/21 | 2019/20 | transaction | |
| f | f | |||||
| The City of | London | |||||
| City of London | Corporation | isthe Trustee | 81,988 | 28,806 | Distribution from |
|
| CorporatIon | for the charity | (nil) | (nil) | the Charities Pool |
||
| SirThomas Gresham | ||||||
| Charity entered | ||||||
| into a 125year | ||||||
| lease ofthe site | ||||||
| SirThomas | from CoLA as per | |||||
| Gresham | The City of | London | the agreement | |||
| Charity | Corporation | is the Trustee | 8,489 | Nil | dated | |
| (221982) | for the charity | (141,851) | (145,440) | 7 December 1994 |