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|Contents||||||||Page|
|---|---|---|---|---|---|---|---|---|
|Trustees, Professional|Advisers,||Management|Personnel||and Administrative|Details||
|Trustees'<br>Report|||||||||
|independent<br>Examiner's||Report|on the unaudited||accounts|||12|
|Statement<br>of Financial||Activities||||||13|
|Balance Sheet||||||||15|
|Notes to the Financial|Statements|||||||16|





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|The Board|||||City ofWells Almshouses<br>CIO|City ofWells Almshouses<br>CIO|(Corporate Trustee)|(Corporate Trustee)|(Corporate Trustee)|
|---|---|---|---|---|---|---|---|---|---|
|CIO Board|ofTrustees||||Ms Stella Ainsworth|||||
||||||Mr Charles Cain - resigned<br>October, 2022|||||
||||||Mr Stewart Cursiey|||||
||||||The Venerable<br>Anne Gell: ex-officio (Acting Dean ofWells Cathedral)|||||
||||||Ms Claire Green - resigned<br>January,<br>2023|||||
||||||Mr John North - resigned<br>May, 2023|||||
||||||Mrs Sarah Powell|||||
||||||Mrs Tanys Pullin: ex-officio|(Mayor of|||Wells)|
||||||Mr Richard Quarry<br>- resigned||January,||2023|
||||||Mr Tony Robbins - resigned|January, 2023||||
||||||Mr Mark Shelton|||||
||||||IVlr Christopher<br>Vigar|||||
||||||Mrs Shirley Watt - resigned|May, 2023||||
||||||Mr Philip Welch|||||
|Chief Executive|||||The Reverend<br>Dr Martin Thomas|||||
|Financial Controller|||g Secretary||Mr P M McMahon<br>MA FCA|||||
|Scheme Manager|||||Mrs CTollworthy|||||
|Principal ONce|||||4 Bubwith Almshouses|||||
||||||Wells, Somerset,<br>BAS 2QE|||||
||||||Telephone: 01749675813|||||
||||||Email: info@wellsalmshouses.||org.uk|||
||||||Website: www. wellsalmshouses.|||org.uk||
|Charity Number|||||1040554|||||
|Homes England||Registration||Number|A4055|||||
|Bankers|||||National<br>Westminster<br>Bank|pic||||
||||||7 High Street|||||
||||||Wells, Somerset,<br>BA5 2AD|||||
||||||The Charity<br>Bank|||||
||||||Fosse House|||||
||||||182 High Street, Tonbridge,|TN9||1BE||
|Solicitors|||||Tozers Solicitors|||||
||||||Broadwalk<br>House, Southernhay|||West,||
||||||Exeter, Devon, EX11UA|||||
|Examining|Accountants||||Monahans,<br>Chartered<br>Accountants,|||||
||||||County Gate, County Way|||||
||||||Trowbridge,<br>Wiltshire,<br>BA147FJ|||||
||||||1|||||





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||||Unrestricted|Endowment|Restricted|Total Funds|Total Funds|
|---|---|---|---|---|---|---|---|
|||Notes|Funds|Funds|Funds|2023|2022|
||||E|E||||
|INCOME:||||||||
|Income from residents|||214,480|||214,480|205,564|
|Investment<br>income|||70,675|||70,675|69,306|
|Grants & Donations|||||6,078|6,078|7,022|
|Gain on sale of land|||205,045|||205,045||
|Total income|||490,200||6,078|496,278|281,892|
|EXPENDITURE:||||||||
|Charitable<br>activities|||254,485|||254,485|213,309|
|Professional<br>management||||||||
|costs|||1,887|||1,887|9,472|
|Total expenditure|||256,372|||256,372|222,781|
|Net income before||||||||
|investment<br>&land||||||||
|gains|||233,828||6,078|239,906|59,111|
|Net gains/(losses)|on|||||||
|investments|||(35,515)|(24,551)|342|(59,724)|89,113|
|Net income/(expenditure)|||198,313|(24,551}|6,420|180,182|148,224|
|Transfers between|funds|15|(100,800)|100,800||||
|Net movement<br>in funds|||97,513|76,249|6,420|180,182|148,224|
|Reconciliation<br>offunds:||15||||||
|Total funds brought||||||||
|forward|||7,260,116|646,486|25,811|7,932,413|7,784,189|
|Total funds carried||||||||
|forward|||7,357,629|722,735|32,231|8,112,595|7,932,413|





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||||Unrestricted|Endowment|Restricted|Restricted|Total Funds|
|---|---|---|---|---|---|---|---|
|||Notes|Funds|Funds|Funds||2022|
||||f|f|f||f|
|INCOME:||||||||
|Income from residents|||205,564||||205,564|
|Investment<br>income|||69,306||||69,306|
|Grants R Donations|||||7,022||7,022|
|Gain on sale of land||||||||
|Total income|||274,870||7,022||281,892|
|EXPENDITURE:||||||||
|Charitable<br>activities|||213,309||||213,309|
|Investment<br>management||||||||
|costs|||9,472||||9,472|
|Total expenditure|||222,781||||222,781|
|Net income before||||||||
|investment<br>&land||||||||
|gains|||52,089||7,022||59,111|
|Net gains on||||||||
|investments|||37,604|50,680||829|89,113|
|Net income|||89,693|50,680|7,851||366,075|
|Transfers between|funds|15|(4,200)|4,200||||
|Net movement<br>in funds|||85,493|54,880|7,851||148,224|
|Reconciliation offunds:||15||||||
|Total funds brought||||||||
|forward|||7,174,623|591,606|17,960||7,784,189|
|Total funds carried||||||||
|forward|||7,260,116|646,486|25,811||7,932,413|





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|495!5~!."5!!8.<br>'". !5595!5945APB!454!45M55<br>BALANCE SHEET|922!!548582!55P44944M2!54I99|!! .—!|' 5&:"-'-:. ..' '!  .,'551..84|.:.:,4'".% 455!4MÃ4544|24!5! 4!5!485254M;1V5|%!45!!""„;;"„5%, '.w|
|---|---|---|---|---|---|---|
|||||2023||2022|
|||Notes||f||f|
|FIXEDASSETS|||||||
|Property||10||5,304,205||5,282,584|
|Equipment||10||10,806||6,611|
|Investments||11||2,261,490||2,085,092|
|Investment<br>land||||589,000||598,000|
|Total fixed assets||||8,165,501||7,972,287|
|CURRENT ASSETS|||||||
|Debtors||12|22,949||14,133||
|Cash at bank and<br>in hand|||27,323||24,180||
|Investment<br>land held for resale|||||135,000||
||||50,272||173313||
|CREDITORS:<br>amounts|falling due||||||
|within one year||13|(19,006)||(58,022)||
|NET CURRENT ASSETS||||31,266||115,291|
|TOTAL ASSETS LESSCURRENT LIABILITIES||||8,196,767||8,087,578|
|CREDITORS:<br>amounts|falling due after||||||
|more than one year||14||(84,172)||(155,165)|
|NET ASSETS||||8 112595||2 952,425|
|THE FUNDS OF THE CHARITY|||||||
|Endowment<br>reserves||15||722,735||646,486|
|Restricted reserves||15||32 231||25,812|
|Unrestricted<br>reserves||15||7,357,629||7,260,115|
|TOTAL CHARITY FUNDS||||8112595||7,932,413|



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|3|INVESTIVIEN|T INCOME|||
|---|---|---|---|---|
||||Unrestricted|Unrestricted|
||||Funds|Funds|
||||2023|2022|
||||f|f|
||Interest and|Dividends|59,138|55,168|
||Agricultural|Rents|11,537|14,138|
||||70,675|69,306|
|4|GRANTS & DONATIONS||||



||||Restricted|Total|Restricted|Total|
|---|---|---|---|---|---|---|
||||Funds|Funds|Funds|Funds|
||||2023|2023|2022|2022|
||||f|f|f|f|
|Chapel|Restoration|Donations|673|673|7,022|7,022|
|Chapel|Restoration|Grants|5,405|5,405|||
||||6,078|6,078|7,022|7,022|



||||Direct|Support|Total|Direct|Support|Total|
|---|---|---|---|---|---|---|---|---|
||||Costs|Costs|Costs|Costs|Costs|Costs|
||||2023|2023|2023|2022|2022|2022|
||||f||f|f||f|
|Depreciation|||75,492||75,492|72,735||72,735|
|Salaries & Pensions|||30,695|38,395|69,090|28,822|34,513|63,335|
|Communal||amenities|27,341||27,341|20,318||20,318|
|Professional||Fees|25,996||25,996|7,722||7,722|
|Property|running||5,399||5,399|9,595||9,595|
|Loan Fees|||7,254||7,254|6,047||6,047|
|Insurance|||9,010||9,010|7,126||7,126|
|Governance||||4,131|4,131||2,500|2,500|
|Property|maintenance||12,779||12,779|12,982||12,982|
|Other|||17,993||17,993|10,949||10,949|
||||211,959|42,526|254,485|176,296|37,013|213,309|





|||2023|2022|
|---|---|---|---|
|||E|E|
|Salaries||64,847|58,256|
|Pension|Contributions|1,338|1,669|
|Former|CEO consultancy||3,410|
|Staff Salaries &Pensions||66,185|63,335|
|Training,|Welfare &Travel|2,905|2,326|
|Total employee<br>related costs||69,090|65,661|



## 

|||||2023|2022|
|---|---|---|---|---|---|
|||||E|E|
|Investment|Manager|Fees|||7,428|
|Agricultural|Land Manager||Fees|1,887|2,044|
|||||1,887|9,472|



## 

|SOCIAL HOU|SING OPERA|T|ING RESULT|||||
|---|---|---|---|---|---|---|---|
|||||2023|2023|2022|2022|
|||||E|E|E|E|
|Income from|Residents (Note 2)||||214,480||205,564|
|Total activities costs (Note|||5)|254,485||213,309||
|Less:|Non-social|housing costs:||||||
|Professional|Fees (Note 5)|||(25,996)||(7,722)||
|Depreciation|(Note 5)|||(75,492)||(72,735)||
|Loan Fees (Note 5)||||(7,254)||(6,047)||
|Chapel Fundraising<br>costs||||(216)||(2,144)||
|Governance|costs (Note|5)||(4,131)||(2,500)||
|Total Social|Housing Costs||||141,396||122,161|
|Social Housing Operating|||Result||73084||83,403|





|||||||Freehold|Property|Property|||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Property<br>f|Upgrades<br>f|Sub-total<br>f|Equipment<br>f|Total<br>f|
||COST||||||||||
||At 1stApril 2022|||||4,757,914|900,018|5,657,932|21,946|5,679,878|
||Disposals||||||||(2,794)|{2,794)|
||Additions|||||1,572|91,366|92,938|8,371|101,309|
||At 31st March 2023|||||4,759,486|991,384|5,750,870|27,523|5,778,393|
||DEPRECIATION||||||||||
||At 1st April 2022|||||166,187|209,162|375,349|15,335|390,684|
||Disposals||||||||{2,794)|(2,794)|
||Charge for year|||||23,741|47,575|71,316|4,176|75,492|
||At 31st March 2023|||||189928|256737|446 665|16,717|463 382|
||NET BOOK VALUE||||||||||
||At 31st March 2023|||||4 569558|734,647|5304205|10,806|5,315,011|
||At 31st March 2022|||||4,591,727|690856|5 282 584|6,611|5,289,195|
|11|INVESTMENTS||||||||||
||||||||2023||2022||
||||||||f||||
||Market value as at|1st|April, 2022||||2,085,092||1,910,007||
||Additional<br>investment||at cost||||358,418||89,200||
||Withdrawn<br>investment||at cost||||(120,000)||||
||(Losses)/Gains<br>on revaluation||||||{59,724)||89,113||
||Net sales/purchases|81|transaction||costs||(2,296)||(3,228)||
||Market value as at|31st March, 2023|||||2 261,490||2 085,092||
||Represented<br>by:||||||||||
||||||||2023||2022||
||||||||f||f||
||CCLA Charities<br>Investment|||Funds|||2,261,490||1,010,198||
||Listed investments|with|Brewin Dolphin||||||1,074,894||
||||||||2,261490||2,085,092||





## 

|LMPWclPDK)JZ4%KWINp<br>DEBTORS|WMXB<br>%1&|&WRÃkJ . '\<br>CXAAM .:.i..;..i",',.;"«", K<br>'i ' 9' 'WS|'*., ':,"4',".' —;',1 ";WZNCINtMdW~V|lP4WUA<br>& 'Ww " 4R 7'%|
|---|---|---|---|---|
||||2023|2022|
||||f|f|
|Trade Debtors|||210|638|
|Prepayments|||4,689|4,451|
|Due from Solicitors|||12,500||
|Dividends<br>receivable||||2,044|
|Land rents receivable|||5,500|7,000|
|Other receivables|||50||
||||22,949|14,133|
|Social Housing|Rent Arrears at 31/03/23 were f122||(31/03/22: f523)||
|CREDITORS: Amounts||falling due within one year|||
||||2023|2022|
||||f|f|
|Trade creditors|||9,579|39,218|
|Accruals|||3,350|5,950|
|Bank loan|||2,596|6,165|
|Sundry creditors|||3,481|4,394|
|||||55,727|



## 

|The Bank loan is secured on a fixed le<br>repaid as follows:|gal charge on 1-16 Llewellyn's<br>Almsh|ouses<br>and is due to|
|---|---|---|
||2023|2022|
||f|f|
|Between 1to 2 years|2,796|6,410|
|Between 2to 5 years|9,778|20,939|
|Due after 5years|71,598|127,816|
||S4 172|155,165|





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