**BURFORD CHARITIES**
**THE BURFORD ALMSHOUSE CHARITY**
**Report and Financial Statements**
**Year ended 31 December 2023**
**Charity no: 1036380**
**THE BURFORD ALMSHOUSE CHARITY 31 DECEMBER 2023 REPORT OF THE TRUSTEES**
## **TRUSTEES**
## **EX OFFICIO**
The Reverand Tom Putt
## **NOMINATIVE TRUSTEES (Town Council)**
Mrs J Tunnell-Westmacott Mr D. Cohen
## **CO-OPTED TRUSTEES**
Mr N Street Mrs P Barraclough Mr D P Griffin FCA (Chairman ) Mrs G Hames ( Resigned August 2023) Mr J Harrington Susan Doris (appointed August 2023) Dr Simon Albert MBBS DRCOG MRCGP ( Deceased 2023) Mr C G Williams Mr D Lawton (Treasurer) Mrs Karen Gadd (Appointed August 2023)
## **HONORARY SECRETARY**
Mrs A Youngson Whitehill Farm Burford Oxon, OX18 4DT
## **BANKERS**
TSB Bank plc, 13, High Street, Witney, Oxon, OX28 6PH
## **INDEPENDENT EXAMINER**
B L Connolly ACA Arubus Chartered Accountants Units 1-4 Stockton's Courtyard Overbury Gloucestershire GL20 7NT
## **THE BURFORD ALMSHOUSE CHARITY 31 DECEMBER 2023 REPORT OF THE TRUSTEES (CONTINUED)**
The trustees present their Annual Report and a Receipts and Payments Account for the year ended 31 December 2023
## **Charitable Status**
The Burford Almshouse Charity, is administered under a trust deed (Charity Commission reference 238,130 A/2) dated 20 February 1992.
## **Principal Activity**
The main activity of the charity is in Burford with an area of benefit within a seven mile radius of the Tolsey in Burford. The Burford Almshouse Charity has 18 almshouses which are allocated to local residents with limited income.
## **Principal Address**
The principal address is:
Whitehill Farm Burford Oxon OX18 4DT
Tel: 01993-822894
## **Trustees**
In accordance with the scheme approved by the Charity Commissioners, nominated trustees appointed by the Burford Town Council, serve for a term of four years. Co-opted trustees are appointed for a term of five years by a resolution of the trustees passed at a special meeting of the Trustees. When vacancies arise, local persons are invited by the trustees to become co-opted trustees. New trustees are briefed before their appointment is confirmed.
## **Meetings**
The trustees held four ordinary meetings during the year.
## **Investment powers**
The trustees have no special investment powers. Accordingly, investments are confined to narrower-range securities and common investment schemes. Cash surplus to immediate requirements is invested in the COIF Charities Deposit Fund.
## **THE BURFORD ALMSHOUSE CHARITY 31 DECEMBER 2023 REPORT OF THE TRUSTEES (CONTINUED)**
## **Consideration and mitigation of risks**
Physical damage to property or injury to residents or members of the public which is addressed by adequate public liability and fire insurance policies as well as installing fire detection and alarm mechanisms. Unforeseen property repairs which are covered by allocation to the Extraordinary Repairs Fund (ERF) and the Cyclical Repairs Fund (CMF). Diminution in the value of investments which is addressed by spreading the risk via investment in common investment funds.
## **Objectives and summary of main activities**
The Burford Almshouse Charity continued to be administered in accordance with the Charity Commission Scheme dated 20[th] February, 1992, as amended.
The trustees aim to provide accommodation to modern standards for persons residing in the area of benefit who have limited means. When vacancies arise, preference is given to suitable applicants over 55. The charity has 18 almshouses of which 10 are Grade II Listed Buildings.
The Charity does not employ any staff and the almshouses were administered by the trustees who do not charge for their services.
The trustees have had regard to the guidance issued by the Charity Commission on public benefit.
## **Achievements and performance**
As at 31 December 2023 there were no vacant almshouses.
In April 2017, an independent quinquennial review of all the Almshouses was conducted. This was to ensure that the integrity of the structure and fabric of the properties remain fit for purpose. It has also informed the Trustees of any shortcomings and problems with the premises/buildings to be addressed in the ongoing maintenance program.The cost of this review was funded from the Cyclical Maintenance Fund. Additionally during 2021 a full electrical inspection was carried out in all properties including personal appliances and was funded out of CMF funds.
During 2023, the major items of expenditure were internal renovations a including £15000 for double glazing and £6354 for plumbing and electrics Briggs following a residence becomng vacant. There were several other items of sundry repair, carpet replcemnt and routine maintenance and the total for property repairs and maintenance amounted to £39,652. Costs for heating oil and insurance continue to rise with costs for the year of £5,090 and £3,668 respectively
The Charity made had an overall surplus of £2,863 for the year.
**THE BURFORD ALMSHOUSE CHARITY 31 DECEMBER 2023 REPORT OF THE TRUSTEES (CONTINUED)**
## **Financial Review**
After transfers to the Cyclical Maintenance Fund (CMF) and Extraordinary Repairs Fund (ERF) the Unrestricted Fund of the Burford Almshouse Charity showed a surplus of £9060 for the year to 31 December 2023. Monies were expended from the CMF in the amount of £39,771 mainly in respect of external refurbishment of the premises at Brigg's, prior to a new tenancy agreement.
As at 31 December 2023, the market value of investments was £449,866 compared £427,815 as at 31 December 2022.
With £333,143 held in the ERF, sufficient monies have been set aside for major repairs that may be required in the future.
The Charity’s policy on reserves is to continue to set aside sums for the ERF and CMF and to retain the accumulated surplus on the Unrestricted Fund to meet any unforeseen expenditure that might be needed in the future. The value of the Endowment Fund is only £93,751.
## **Plans for Future Periods**
The trustees will continue to refurbish and update the almshouses as and when necessary. The trustees continue to review their provision of Almshouse accommodation in the Burford vicinity and have agreed with The Charities Commission that Relief in need Funds can be expended on the acquisition of a further property up to a limit of £350,000. The trustees are currently negotiating the purchase of a further property in Burford and should this be successful the property will be transferred to the Burford Almshouse Charity portfolio.
Charity Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charities and of the surplus or deficit of the charities for that period. In preparing those statements, the trustees are required to:
- . select suitable accounting policies and then apply them consistently;
- . make judgements and estimates that are reasonable and prudent;
- . state whether applicable accounting standards have been followed,
- subject to any material departures disclosed and explained in the financial statements, and;
- . prepare the financial statements on a going concern basis unless
it is inappropriate to presume that the charities will continue
- in operational existence.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charities and to enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008.
They are also responsible for safeguarding the assets of the charities and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **THE BURFORD ALMSHOUSE CHARITY 31 DECEMBER 2023 REPORT OF THE TRUSTEES (CONTINUED)**
## **Professional advisers and relevant organisations**
Details of professional advisers and other relevant organisations are provided at the front of these accounts.
## **Independent Examiner**
Mrs B L Connolly was appointed as the charity’s independent examiner in 2014. The trustees intend to invite Mrs B L Connolly to undertake the independent examination of the trusts for the financial year to 31 December 2023.
Approved by the Trustees on 11th March 2024 and signed on their behalf by:
D Griffin Chairman of the Trustees
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|---|---|---|---|---|---|---|---|---|---|
|**Section A Receipts and payments**||**Section A Receipts and payments**||||||||
||||**Unrestricted**
**fund**|**ERF Restricted**
**fund**|**CMF**
**Restricted**
**fund**|**Endowment**
**fund**|**Total funds**|**Last year**||
||||**to the nearest £**|**to the nearest £**|**to the nearest £**|**to the nearest £**|**to the nearest £**|**to the nearest £**||
|**A1 Receipts**||||||||||
|Weeklycontributions|||**52,911**|**911**|**- - 52**|**- - 52**|**- - 52,911 51**|**911 51,180**||
|Donations/Grants||||**- - - -**|**- - - -**|**- - - -**|**- - - -**|||
|HeatingCharges|||**450 - - - 450 -**|**450 - - - 450 -**|**450 - - - 450 -**|**450 - - - 450 -**|**450 - - - 450 -**|**450 - - - 450 -**||
|Council Tax(residents)||||**- - - - -**|**- - - - -**|**- - - - -**|**- - - - -**|**- - - - -**||
|Investment income|||**6,803 -**|**803 -**||**- 6**|**- 6,803 4**|**803 4,426**||
|Wayleaves
**55**
**- - 55 21**
Bank interest
**2,776 - - - 2,776 1,131**
**- - - - -**
**_Sub total_**_(Gross income for_
_AR)_**62,995 - - - 62,995 56,758**
~~===~~||||||||||
|**A2 Asset and investment sales,**||||||||||
|**(see table).**||||||||||
||||**- - -**|**- - -**|**- - -**|**-**|**- -**|**- -**||
||||**- - -**|**- - -**|**- - -**|**-**|**- -**|**- -**||
||**_Sub total_**||**_Sub total_ - - -**|**- - -**|**- - -**|**-**|**- -**|**- -**|**- -**|
|**_Total receipts_**|||**62,995 - -**|**62,995 - -**|**62,995 - -**|**-**|**62,995 56,758**|**62,995 56,758**||
|**A3 Payments**||||||||||
|Propertyrepairs|||**39,652**|||**- 39**|**- 39,652 33**|**652 33,150**||
|Garden maintenance|||**508 - - - 508 620**|**508 - - - 508 620**|**508 - - - 508 620**|**508 - - - 508 620**|**508 - - - 508 620**|**508 - - - 508 620**||
|Fireprecautions|||**2,882 - - - 2**|**882 - - - 2**|**882 - - - 2**|**882 - - - 2**|**882 - - - 2,882 3**|**882 3,120**||
|Heatingoil|||**5,090 - - - 5**|**090 - - - 5**|**090 - - - 5**|**090 - - - 5**|**090 - - - 5,090 6**|**090 6,563**||
|Heatingservicing||||**- - - - -**|**- - - - -**|**- - - - -**|**- - - - -**|**- - - - -**||
|Software|||**282 - - - 282 257**|**282 - - - 282 257**|**282 - - - 282 257**|**282 - - - 282 257**|**282 - - - 282 257**|**282 - - - 282 257**||
|Electricitylandlord|||**957 - - - 957 1**|**957 - - - 957 1**|**957 - - - 957 1**|**957 - - - 957 1**|**957 - - - 957 1**|**957 - - - 957 1,274**||
|Council tax(residents)||||**- - - - -**|**- - - - -**|**- - - - -**|**- - - - -**|**- - - - -**||
|Water rates|||**3,108**||||**3,108 2**|**108 2,927**||
|Heating grants|||||||**- -**|**- -**||
|Insurance|||**3,668**||||**3,668 3**|**668 3,365**||
|Subscriptions|||**790**||||**790 323**|**790 323**||
|Secretarial services/ Training|||**95**||||**95 -**|**95 -**||
|Independent examination fees|||**1,116**||||**1,116 870**|**116 870**||
|Printingand stationery|||**257**||||**257 244**|**257 244**||
|PropertyManagement fees|||**1,727 - - - 1**|**727 - - - 1**|**727 - - - 1**|**727 - - - 1**|**727 - - - 1,727 1**|**727 1,695**||
||**_Sub total_ **||**60,132 - - - 60,132 54,408**|**60,132 - - - 60,132 54,408**|**60,132 - - - 60,132 54,408**|**60,132 - - - 60,132 54,408**|**60,132 - - - 60,132 54,408**|**60,132 - - - 60,132 54,408**||
|||||||||||
|**A4 Asset and investment**||||||||||
|**purchases, (see table)**||||||||||
|**NAACIF accumulation units**|**NAACIF accumulation units**||**-**|||**-**||||
||||**- - - - - -**|**- - - - - -**|**- - - - - -**|**- - - - - -**|**- - - - - -**|**- - - - - -**||
||**_Sub total_ **||**-**||**- -**|**- -**||||
|||||||||||
|**_Total payments_**|||**60,132 - - - 60,132 54,408**|**60,132 - - - 60,132 54,408**|**60,132 - - - 60,132 54,408**|**60,132 - - - 60,132 54,408**|**60,132 - - - 60,132 54,408**|**60,132 - - - 60,132 54,408**||
|**_Net of receipts/(payments)_**
**2,863**
**- - - 2,863 2,350**
**A5 Transfers between funds**
**-**
**A6 Cash funds last year end**
**157,583**
**-**
**157,583 155,233**
**_Cash funds this year end_**
**160,446**
**- - - 160,446 157,583**
~~—SS=>=>=>~~||||||||||
CCXX R7 accounts (SS)
13/03/2024
7
|**Section B Statement of assets and liabilities at the end of the period**|**Section B Statement of assets and liabilities at the end of the period**|**Section B Statement of assets and liabilities at the end of the period**|**Section B Statement of assets and liabilities at the end of the period**|**Section B Statement of assets and liabilities at the end of the period**|
|---|---|---|---|---|
|**Categories**
Signed by one or two trustees on
behalf of all the trustees
**B1 Cash funds**
**B2 Other monetary assets**
**B4 Assets retained for the**
**charity’s own use**
**B5 Liabilities**
**B3 Investment assets**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**to nearest £**
**to nearest £**
**to nearest £**
**Details**||||
||TSB|**66,564**|**-**||
||COIF Deposit Funds col 1 (2) col 2 ( 3 4)|**3,274**|**79,991**|**-**|
||NS&I|**-**|**10,617**|**-**|
||**_Total cash funds_**|**69,838**
|**90,608**||
||**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**to nearest £**
**to nearest £**
**to nearest £**
**Details**||||
|||**-**|**-**|**-**|
|||**-**|**-**|**-**|
|||**-**|**-**|**-**|
|||**-**|**-**|**-**|
|||**-**|**-**|**-**|
|||**-**|**-**|**-**|
||**Fund to which**
**asset belongs**
**Cost (optional)**
**Current value**
**(optional)**
**Details**||||
||NAACIF income shares|
Endowment|**41,780**|**76,359**|
||Charishare Common Investment Fund|Endowment|**6,113**|**17,392**|
||NAACIF accumulation units|ERF|**96,186**|**333,143**|
||NAACIF income shares|Unrestricted Fund|**20,000**|**22,972**|
||||||
||**Fund to which**
**asset belongs**
**Cost (optional)**
**Current value**
**(optional)**
**Details**||||
||Freehold property (18 Almshouses)||**871,840**|**-**|
||||**-**|**-**|
||||**-**|**-**|
||||**-**|**-**|
||||**-**|**-**|
||||**-**|**-**|
||||**-**|**-**|
||||**-**|**-**|
||||**-**|**-**|
||**Fund to which**
**liability relates**
**Amount due**
**(optional)**
**When due**
**(optional)**
**Details**||||
||||**-**||
||||**-**||
||||**-**||
||||**-**||
||||**-**||
||Date of
approval
Print Name
Signature||||
|||D PGriffin|||
|||D Lawton|||
CCXX R8 accounts (SS)
13/03/2024
8
## **Independent examiner's report on the accounts**
**Report to the trustees/ members of The Burford Almshouse Charity**
## **On accounts for the year ended 31 December 2023**
## **Charity no 1036380**
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under
- section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner’s statement**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention
1. which gives me reasonable cause to believe that in, any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting
- requirements of the Charities Act
have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Signed:** B Connolly **Date: Name:** Mrs Bonnie Connolly **Relevant professional** ACA **qualification(s) or body (if any): Address:** Arubus Chartered Accountants The Old Smithy Stockton's Courtyard, Overbury, Gloucestershire, GL20 7NT