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2022-03-31-accounts

BRISTOL AND ANCHOR ALMSHOUSE CHARITY REPORT & FINANCIAL STATEMENTS 31 MARCH 2022

Charity Number: 1075673 Tenants Service Authority Number: A4256

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

Contents Page
Reference and Administrative Information 1
Trustees’ Annual Report 2 – 5
Independent Examiners Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 – 19

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

REFERENCE AND ADMINSTRATIVE INFORMATION YEAR ENDED 31 MARCH 2022

Legal and operating name

Bristol & Anchor Almshouse Charity

Charity registration number

1075673 (England & Wales)

Tenants Service Authority registration number

A4256

Principal Office and Contact Details

The Beehive Centre 19a Stretford Road, Whitehall Bristol BS5 7AW

Tel: 0117 9354471 Email: jessica.cornes@thebeehivebristol.co.uk Web: https://www.thebeehivebristol.co.uk/

Trustees

Dinah Bernard (Resigned 01/03/2022) Derek Cann Rev Nicola Coleman Beverly Holtum Peter Woolf Elizabeth Welling Michael Bothamley

William Durie Elizabeth Evans Richard Jarratt Asher Craig Ann Smith

Independent Examiner

Joshua Kingston, BSc., ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Bankers

HSBC Bank PO Box 120 49 Corn Street Bristol BS99 7PP

Investment Advisors

Brewin Dolphin The Paragon Counterslip Bristol BS1 6BX

1

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 MARCH 2022

Introduction

The trustees have pleasure in presenting their report and financial statements for the year ended 31 March 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (FRS102 SORP) ‘Accounting and Reporting by Charities’ in preparing the annual report and financial statements for the charity.

Objects and activities of the charity

The objects of the Bristol and Anchor Almshouse Charity set out in the governing document ‘Scheme of the Charity Commissioners’ dated 16 November 1998 is the relief in need in relieving either generally or individually persons resident in the city of Bristol, who are in conditions of need, hardship or distress by making grants of money or providing or paying for items, services or facilities calculated to reduce the need, hardship or distress of such persons, with preference to be given to persons resident in the ancient parish of St John The Baptist and subject thereafter to persons resident in the ecclesiastical Parish of St Ambrose, Whitehall.

Residents

In total there are 22 almshouses, 14 flats built in 2000 and 8 Victorian cottages. The 22 almshouses are on one site in Whitehall, Bristol. The accommodation is for independent living although as residents get older, the Trust continues to support them for as long as possible and allows residents to receive care packages, social service assistance and support from the mental health team, if required.

Bristol and Anchor Almshouse Trust is a social housing provider registered with, and regulated by, the Homes and Communities Agency (HCA) as well as a registered charity and regulated by the Charity Commission. Applications for housing are encouraged from anyone who believes they fulfil the three basic criteria (housing need, financial need and social need). All applicants are assessed in line with an internally approved policy. A sub-committee is responsible for interviewing and assessing new applicants and allocating vacant almshouses. The site has a Clerk, Centre Manager and Administrator available during office hours who oversee the site, along with a Handyman and cleaning staff. The cottages are historic buildings comprising eight cottages.

Residents at Bristol and Anchor live independently and need to be mobile. The Clerk and Staff’s remit is to ensure the daily well-being of all residents and to assist them with day to day living although they are not medically trained and do not provide personal care. Their role can be described as “being a good neighbour”. There is a 24-hour emergency remote Warden Pull enabling residents to access emergency help at all times of the day and night. The Clerk and staff maintain regular contact with family members when necessary and in particular when a resident is unwell. The Trustees and Clerk meet regularly to discuss management and resident issues.

Residents pay a weekly maintenance contribution for their licence (as opposed to a rent) and a contribution to water, gas and electric. Weekly maintenance contributions vary between £108 - £148 per week depending on the accommodation that is provided. In addition, all residents pay a £40 per unit weekly contribution to water, electric and gas and communal services. The Trustees aim to keep residents’ costs as low as possible taking into account target rents from the HCA and equivalent fair rent assessments from the Valuation Office Agency. In addition, the Clerk consults with Bristol City Council on any rent increase ensuring that those residents who require assistance can access 100% of the rent payments through housing benefit if eligible.

Trustees and staff are aware of the implications of the proposed Care Act which brings social housing providers within the care sector and gives a greater role for social housing within care assessments. Policies to incorporate this role have been written and approved. The Trustees strive to ensure a fair, consistent, and transparent process when allocating Almshouse accommodation. There is an approved

2

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 MARCH 2022

policy within the Trust consisting of a comprehensive application form, an informal interview, a points system, and continual review of applicants known to us who are waiting for accommodation.

The charity also provides a wide range of social activities to which residents are invited, but not obliged to attend. These take place in the Community Centre known as the Beehive.

The Beehive Community Centre

The Beehive Centre, previously the St Ambrose church hall, is an intergenerational community space for people living in the neighbourhood and nearby. In normal times the centre hosts more than 3,500 attendances each month. After the pandemic the Beehive Centre re-opened on a reduced basis and in accordance with Government guidelines. It has responded by widening its offering as restrictions have been relaxed.

The Beehive Centre is a fully accessible community hub and meeting place. We aim to reduce social isolation and loneliness in the community by offering a wide range of daily activities for mixed ages and abilities, that promote health and wellbeing.

Our own volunteers are led by fully trained tutors and volunteers. The centre also hosts many other groups and organisations.

The Centre is a not-for-profit community-based organisation, which provides information and assistance to local residents and implements programmes to meet community needs.

It aims to establish a thriving, dynamic, community centre in the heart of St George, Bristol that:

Financial Review

Total income was £247,923 (previous year £215,131). Total expenditure was £228,569 (previous year £241,914). The Beehive Centre was closed for the early part of the 2021-22 year. Attendances took some time to recover and still are below pre-pandemic levels. Almshouse occupancy levels were ahead of expectations and there were no voids. Expenses were in line with expectations.

Reserves Policy

It is the Trustees’ policy to hold cash and near cash unrestricted reserves equal to at least nine months expenditure. It is also the Trustees’ policy to generate annual surpluses to cater for future requirements and growth.

As at 31 March 2022 the charity held unrestricted cash and near cash reserves of £551,354, representing approximately 28 months expenditure (previous year £552,189 and 27 months). At the end of the financial year the investment portfolio showed a small gain of £33,902, recovering the losses experienced in the middle of the year due to the Covid-19 driven the fall in markets.

Public Benefit

The trustees confirm that they ensure that they meet the objects of the Charity for the public benefit, as defined by the Charities Act 2011 and have proper regard to the guidance published by the Charity Commission in respect of the subject of public benefit.

3

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 MARCH 2022

Structure, Governance and Management of the Charity

Bristol and Anchor Almshouse Charity is an unincorporated charity, registered as a charity on 25 May 1999. The Charity was brought into a single scheme by three former Almshouse charities, Bristol (St John the Baptist and St Ambrose) Charity, Hill’s Almshouse and Whitson Street Almshouse Charity. A new building, comprising fourteen two bedroom flats, was completed in May 1999 and a Day Centre was constructed in the former Church Hall of St Ambrose, Whitehall. The eight cottage dwellings, formerly owned by Bristol (St John the Baptist and St Ambrose) Charity, were re-furbished and modernised in August 1999.

The developments were financed by the reserves of the three charities, including the proceeds of sale of the properties of Hill’s Almshouses and Whitson Street Almshouse Charity, and by grants from the Anchor Society and the Housing Communities Agency (HCA)

The Trustees now administer twenty-two units of accommodation for older people and the Beehive Centre, at the Almshouse site.

The Charity is governed by the Scheme of The Charity Commissioners adopted on 16 November 1998.

The Trustees meet formally on a quarterly basis. Between meetings, responsibility for the management of the charity lies with the Clerk to the Trustees. The key management personnel of the charity are the Chairman and the Treasurer of the Board of Trustees and the Clerk to the Trustees.

The Board of Trustees consists of not less than twelve and not more than fourteen persons being:

Each nominated Trustee appointment shall be made for a term of four years at a meeting convened and held according to the ordinary practice of the appointing body. Co-opted Trustees shall be appointed for a term of five years by a resolution of the Trustees passed at a special meeting of which not less than 21 days’ notice has been given.

Induction and training of new Trustees follows the National Almshouse Association guidelines.

4

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 MARCH 2022

Statement of trustees’ responsibilities

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales 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 charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the trustees on ……………………… and signed on its behalf by:

Elizabeth Evans, Chairman

5

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

INDEPENDENT EXAMINER’S REPORT

YEAR ENDED 31 MARCH 2022

Independent examiner’s report to the trustees of Bristol and Anchor Almshouse Charity

I report to the trustees on my examination of the accounts of Bristol and Anchor Almshouse Charity (the Charity) for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Joshua Kingston, BSc., ACA Date: Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

6

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 MARCH 2022

----- Start of picture text -----
Unrestricted Restricted Endowment Total Funds Total Funds
Funds Funds Funds 2022 2021
Note £ £ £ £ £
Income and endowments from:
Donations and legacies 2 13,610 - - 13,610 1,590
Charitable activities 3 215,894 - - 215,894 190,710
Other trading activities 4 4,034 - - 4,034 5,075
Investments 5 14,385 - - 14,385 17,756
Total income 247,923 - - 247,923 215,131
Expenditure on:
Raising funds 6 8,254 - - 8,254 6,896
Charitable activities 7,8 220,315 - - 220,315 248,018
- -
Total expenditure 228,569 228,569 254,914
Net gains/(losses) on investments 13 31,127 2,010 765 33,902 207,329
Net income/(expenditure) 50,481 2,010 765 53,256 167,546
Transfers between funds 16 (8,800) - 8,800 - -
Gains on revaluation of fixed assets 12 - - - - 370,000
Net movement in funds 41,681 2,010 9,565 53,256 537,546
Total funds at 1 April 16 1,803,540 18,327 1,621,987 3,443,854 2,906,308
Total funds at 31 March 16 1,845,221 20,337 1,631,552 3,497,110 3,443,854
----- End of picture text -----

The charity has no recognised gains or losses other than the results for the year as set out above.

All of the activities of the charity are classed as continuing.

The comparative funds are set out in note 18.

______________

The notes on pages 9 to 19 form part of these financial statements

7

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

BALANCE SHEET

AT 31 MARCH 2022

----- Start of picture text -----
2022 2021
Note £ £
Fixed assets
Tangible assets 12 2,399,789 2,405,808
Investments 13 1,047,081 1,007,364
3,446,870 3,413,172
Current assets
Debtors 14 10,828 6,778
Cash at bank 69,119 65,229
79,947 72,007
Creditors : Amounts falling due
within one year 15 (29,707) (41,325)
Net current assets 50,240 30,682
Net assets 3,497,110 3,443,854
Funds
Endowment funds 17 1,631,552 1,621,987
Restricted funds 17 20,337 18,327
Unrestricted funds
General funds 17 1,117,683 1,076,002
Revaluation reserve 17 727,538 727,538
3,497,110 3,443,854
----- End of picture text -----

Approved by the Trustees on ….......................... and signed on their behalf by:

Elizabeth Evans

Richard Jarratt

The notes on pages 9 to 19 form part of these financial statements

______________

8

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

1 Accounting policies

Basis of preparation

Bristol & Anchor Almshouse is a registered unincorporated charity under the Charities Act 2011 (registered number 1075673), and is registered with the Tenant Services Authority as a registered provider (number A4256).

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern,

despite the significant uncertainty being caused by the worldwide COVID-19. Whilst the Trustees expect there to be a

significant impact on the charity's operations, the charity has sufficient reserves to be able to meet these challenges.

The charity is a public benefit entity as defined under FRS102.

Income

Income is recognised in the Statement of Financial Activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity's assets or reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.

Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.

Rental income is recognised in the month it falls due. Unpaid rent is accounted for in debtors and any rents received in advance are accounted for as deferred income.

Dividend income is recognised when it has been received by the charity's fund manager.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category.

Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised when the conditions attached are fulfilled.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. Governance costs are included within charitable activity support costs.

Expenditure on raising funds consists of investment management fees in respect of the investments held.

______________

9

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

1 Accounting policies (continued)

Allocation of costs

Direct costs that are specifically related to an activity are allocated to that charity. Shared direct costs and support costs are apportioned between activities.

The basis of apportionment, which is consistently applied, and proportionate to the circumstances is:

Staffing - on the basis of time spent in connection with any particular activity. Premises related costs - on the proportion of floor are occupied by a particular activity.

Non specific support costs - on the basis of the usage of resources, in terms of time taken, capacity used, request made or other measures.

Fixed asset investments

Fixed asset investments in quoted shares, traded bonds, investment properties are shown at their market value at the balance sheet date at the end of the financial period. The Statement of Financial Activities includes net gains and losses arising on revaluations and disposals throughout the year.

Tangible fixed assets

Tangible fixed assets are measured at their original cost value, or subsequent revaluation. Cost value includes all costs expended in bringing the asset into its intended working condition.

Deprecation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful life.

Freehold property 0% straight line Plant and machinery 10% straight line Motor vehicles 20% straight line Computer equipment 25% straight line

Old Almshouse building, St John's House, and the new Bristol and Anchor House are classed as freehold property per the financial statements. The trustees of the charity carry out an annual impairment review on the properties.

Freehold property is subject to a policy of revaluation.

Debtors

Debtors are measured at their recoverable amounts at the balance sheet date.

Cash at bank balances

Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.

Creditors and provisions

A creditor and provision are recognised when there is a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

Pensions - defined contribution scheme

The charity operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities in accordance with FRS102.

Any liabilities and assets associated with the scheme are shown under debtors and creditors.

Taxation

The charity is exempt from corporation tax on its charitable activities.

______________

10

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

1 Accounting policies (continued)

Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated funds shall be transferred to some other charitable body or bodies having similar objects to the charity.

Funds

General funds are available for use at the discretion of the Trustees in the furtherance of the charitable purposes of the charity.

Designated funds form part of unrestricted funds and have been identified as being for particular purposes by the Trustees. They are not restricted and can be transferred to general funds at any time at the discretion of the Trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Expenditure which meets these criteria is charged to the fund.

Permanent endowment funds are resources received by the charity that represent capital. A feature of endowment funds is that charity law requires the trustees to invest or retain the funds for the charity’s purposes. The term endowment applies to permanent endowment, where the trustees have no power to convert it into income and apply it.

2 Income from: donations and legacies

Donations and gifts
Grants		 Unrestricted
Restricted Endowment
Total Funds
Total Funds
Funds
Funds
Funds
2022
2021
£
£
£
£
£
1,610
-
-
1,610
1,590
12,000
-
-
12,000
-
13,610
-
-
13,610
1,590

Income from donation and legacies in the prior year was unrestricted.

3 Income from: charitable activities

Provision of housing accommodation
Beehive day centre		 Unrestricted
Restricted Endowment
Total Funds
Total Funds
Funds
Funds
Funds
2022
2021
£
£
£
£
£
187,651
-
-
187,651
188,797
28,243
-
-
28,243
1,913
215,894
-
-
215,894
190,710

Income from charitable activities in the prior year was unrestricted.

4 Income from: other trading activities

Solar panel income Unrestricted
Restricted Endowment
Total Funds
Total Funds
Funds
Funds
Funds
2022
2021
£
£
£
£
£
4,034
-
-
4,034
5,075
4,034
-
-
4,034
5,075

Income from other trading activities in the prior year was unrestricted.

______________

11

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

5
Income from: investments
Interest received
Dividend income		 Unrestricted
Restricted Endowment
Total Funds
Total Funds
Funds
Funds
Funds
2022
2021
£
£
£
£
£
-
-
-
-
335
14,385
-
-
14,385
17,421
14,385
-
-
14,385
17,756
Income from investments in the prior year
6
Expenditure on: raising funds
Investment management costs		 was unrestricted.
Unrestricted
Restricted Endowment
Total Funds
Total Funds
Funds
Funds
Funds
2022
2021
£
£
£
£
£
8,254
-
-
8,254
6,896
8,254
-
-
8,254
6,896

Expenditure on raising funds in the prior year was unrestricted.

7 Expenditure on: charitable activities (by cost)

Beehive day centre
Wages and salaries
Pension contributions
Rent, rates and water
Insurance
Electricity and gas
Office and similar costs
Security, out of hours warden
Almshouse repairs and renewals
Cleaning
Gardening and site maintenance
Beehive repairs and renewals
Legal and professional
Bank charges
Depreciation
Governance costs		 Unrestricted
Restricted Endowment
Total Funds
Total Funds
Funds
Funds
Funds
2022
2021
£
£
£
£
£
27,583
-
-
27,583
11,479
49,645
-
-
49,645
47,908
6,853
-
-
6,853
6,452
6,245
-
-
6,245
5,391
8,867
-
-
8,867
8,655
17,190
-
-
17,190
21,853
21,182
-
-
21,182
22,532
941
-
-
941
906
19,417
-
-
19,417
31,023
6,364
-
-
6,364
12,137
7,271
-
-
7,271
22,642
8,948
-
-
8,948
16,190
2,520
-
-
2,520
4,036
233
-
-
233
165
34,148
-
-
34,148
31,991
2,908
-
-
2,908
4,658
220,315
-
-
220,315
248,018

Expenditure on charitable activities in the prior year was considered unrestricted.

8 Expenditure on: charitable activities (by activity)

Provision of housing accommodation
Beehive Day Centre		 Activities
Support
undertaken
costs
Total Funds
directly
(note 9)
2022
£
£
£
155,443
31,669
187,112
27,583
5,620
33,203
183,026
37,289
220,315

______________

12

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

Activities
undertaken
directly
£
Provision of housing accommodation
199,725
Beehive Day Centre
11,479
211,204
9
Support costs
Unrestricted
Restricted Endowment
Funds
Funds
Funds
£
£
£
Bank charges
233
-
-
Depreciation
34,148
-
-
Governance costs
Independent examiner's fee
2,908
-
-
37,289
-
-
Support costs in the prior year were unrestricted.
10 Net income/expenditure for the year
This is stated after charging:
Independent examination fee:
Current year
Prior year over/under provision for additional services
Other fees
Depreciation
Trustees' and connected persons' remuneration
Reimbursement of Nil Trustees' expenses (2021:Nil)		 Support
costs
Total Funds
(note 9)
2021
£
£
34,813
234,538
2,001
13,480
36,814
248,018
Total Funds
Total Funds
2022
2021
£
£
233
165
34,148
31,991
2,908
4,658
37,289
36,814
2022
2021
£
£
2,700
2,900
(380)
1,134
588
624
33,944
31,991
-
-
-
-

11 Staff costs and numbers

The aggregate payroll costs were:
Wages and salaries
Employer's pension		 2022
2021
£
£
49,645
47,908
6,853
6,452
56,498
54,360

The average weekly number of employees, based on headcount during the year, was 4 (2021: 4).

No employee received employment benefits of more than £60,000 in the current or preceding year.

The key management personnel of the charity includes the Trustees and the Clerk . The employment benefits paid to key management were £17154 (2021: £17,705).

______________

13

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

12 Tangible fixed assets

Cost
At 1 April 2021
Additions
Disposals
Revaluation
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
Elimination on disposal
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021
Housing Properties		 Land &
Plant &
Buildings
Machinery
Total
£
£
£
2,270,000
488,225
2,758,225
8,385
19,540
27,925
-
-
-
-
-
-
2,278,385
507,765
2,786,150
-
352,417
352,417
-
33,944
33,944
-
-
-
-
386,361
386,361
2,278,385
121,404
2,399,789
2,270,000
135,808
2,405,808
Bristol &
St John's
Anchor
House
House
Total
£
£
£
645,000
1,625,000
2,270,000

The properties were originally valued in April 2001 by Alder King, property consultants, on the basis of the open market value.

The properties have not been depreciated as the trustees consider that the depreciation would be immaterial on the basis of the properties, high intrinsic value. The properties have not been impaired in any respect.

The properties were revalued by RD Harrison of Alder King Property Consultants, an independent valuer, at 31st March 2021 on the basis of Fair Value. The previous valuation was in April 2005 on the basis of Open Market Value. The 31st March 2021 valuation shows an increase of £370,000 over the April 2005 valuation.

The total amount of Social Housing Grant received to 31 March 2022
2021
£
£
253,000
253,000

The original cost of the properties was £1,542,462 and a social housing grant of £253,000 was received.

In the calculation of historical cost it has been assumed that one third of the value of the properties is attributable to land.

Housing Stock

The number of housing units in management at 31 March was:
Housing accommodation for letting		 2022
2021
No.
No.
22
22

______________

14

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

----- Start of picture text -----
13 Fixed asset investments
2022 2021
Listed investments £ £
At 1 April 2021 980,808 766,275
Acquisitions at cost 9,994 292,329
Proceeds on disposal (458) (285,125)
Net gain/(loss) on revaluation 33,902 207,329
At 31 March 2022 1,024,246 980,808
Cash or cash equivalents 22,835 26,556
1,047,081 1,007,364
14 Debtors
2022 2021
£ £
Trade debtors 3,428 278
Prepayments 7,400 6,500
10,828 6,778
15 Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 22,298 4,875
Accruals and deferred income 7,409 36,450
29,707 41,325
16 Movement in funds
At 01 April Gain and At 31 March
2021 Income Expenditure Transfers losses 2022
£ £ £ £ £
Endowment funds
- - - -
Almshouse Charity 501,401 501,401
Parochial Charities 7,577 - - - 589 8,166
Semons Charity 2,021 - - - 176 2,197
- - - -
Anchor Society 200,000 200,000
Hill's Almshouse 186,235 - - - - 186,235
St James Whitson Street 182,195 - - - - 182,195
- - - -
Margaret Tindall's Charity 214,602 214,602
Bristol & Anchor Almshouse 36,556 - - - - 36,556
Bristol Archdeaconry Charities
- - - -
Capital Sum 133,000 133,000
- - -
Recoupment fund 158,400 8,800 167,200
1,621,987 - - 8,800 765 1,631,552
Restricted Funds
- - -
Extraordinary repair 18,327 2,010 20,337
- - -
18,327 2,010 20,337
Unrestricted Funds
General Funds 1,076,002 247,923 (228,569) (8,800) 31,127 1,117,683
Revaluation reserve 727,538 - - - - 727,538
1,803,540 247,923 (228,569) (8,800) 31,127 1,845,221
Total funds 3,443,854 247,923 (228,569) - 33,902 3,497,110
----- End of picture text -----

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15

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

16 Movement in funds ( continued )

Prior year comparatives

Endowment funds
Almshouse Charity
Parochial Charities
Sermons Charity
Anchor Society
Hill's Almshouse
St James Whitson Street
Margaret Tindall's Charity
Bristol & Anchor Almshouse
Bristol Archdeaconry Charities
Capital Sum
Recoupment fund
Restricted Funds
Extraordinary repair
Unrestricted Funds
General Funds
Revaluation reserve
Total funds		 At 01 April
Gain and
At 31 March
2020
Income Expenditure
Transfers
losses
2021
£
£
£
£
£
501,401
-
-
-
-
501,401
7,546
-
-
-
31
7,577
1,733
-
-
-
288
2,021
200,000
-
-
-
-
200,000
186,235
-
-
-
-
186,235
182,195
-
-
-
-
182,195
214,602
-
-
-
-
214,602
36,556
-
-
-
-
36,556
133,000
-
-
-
-
133,000
149,600
-
-
8,800
-
158,400
1,612,868
-
-
8,800
319
1,621,987
14,261
-
-
-
4,066
18,327
14,261
-
-
-
4,066
18,327
921,641
215,131
(254,914)
(8,800)
202,944
1,076,002
357,538
-
-
-
370,000
727,538
1,279,179
215,131
(254,914)
(8,800)
572,944
1,803,540
2,906,308
215,131
(254,914)
-
577,329
3,443,854

Description and purpose of funds

Unrestricted general funds

These funds are held for meeting the objectives of the charity, and to provide reserves for future activities and, subject to charity legislation, are free from all restrictions on their use.

Unrestricted revaluation reserve

This fund represents the unrestricted surplus arising on the revaluation of the charity's assets.

Extraordinary repair

The Extraordinary Repair Fund is a requirement of the Charity Commission Scheme of 16 Nov 1998. The fund is to finance the "extraordinary repair, improvement or rebuilding of the almshouses and other buildings of the Charity".

In 2019 £21,659 had been applied from the fund towards the £94,000 cost of replacing the heating system in the 8 Victorian cottages.

It is funded by 191 NAACIF Accumulation units, value £20,337 (2021: £18,327).

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16

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

16 Movement in funds (continued)

Endowment fixed asset funds - Almshouse Charity, Parochial Charities, Semons Charity, Anchor Charity, Hill's Almshouse, St James Whitson Street, Margaret Tindall's Charity and Bristol & Anchor Almshouse Three charities merged in 1998 into Bristol and Anchor Almshouse Charity.

Ambrose Charity Hill’s Almshouses Charity Whitson Street Almshouse Charity

They brought with them the endowment funds listed above.

Cash sums were received for the four endowment funds - Almshouse Charity, Hill’s Almshouses, St James Whitson Street and Bristol and Anchor Almshouses.

The Parochial Charities and the Sermons Charity endowment funds were received as investments in NAACIF and COIF units.

A cash grant of £200,000 was received from the Anchor Society.

The cash sums together with other grants and mortgages financed the construction of the 14 new almshouse flats and the refurbishment of the 8 Victorian almshouse cottages. The works were completed in August 1999.

In 2001 Margaret Tindall’s Charity Endowment fund was received as a portfolio of investments valued at £201,991. At the time of receipt it was the charity’s only portfolio.

Over the following years the charity generated surpluses from its almshouse and community centre operations and, in 2006 and 2007, received further substantial unrestricted gifts, all of which were added to the investment portfolio. By 31st March 2007 the investment portfolio had increased to £493,423.

For the purposes of the annual accounts, the Trustees relied on the examining accountant to apportion the investment portfolio between the Margaret Tindall Endowment fund and unrestricted funds.

The Trustees changed the examining accountant for the 2011-12 financial year. At 31st March 2012 the Margaret Tindall Endowment fund was valued at £214,602, and this is the value of the fund shown in the accounts for every subsequent year. It appears that the means of apportioning the investment portfolio between the Margaret Tindall Endowment fund and unrestricted funds was lost at 31st March 2012. There are no extant records of how the apportionment had been made in any of the prior years.

The Trustees changed the independent examiner for the 2018-19 financial year. The initial review by Chartered Accountants uncovered the inconsistency in the valuation of the Margaret Tindall Endowment fund.

Having been made aware of the issue, the Trustees agreed to regularise the matter in the current financial year. After investigation of the available options the Trustees approached the Charity Commission and the Chartered Accountants in June 2020 with a proposal that the value of the Margaret Tindall fund be set at a fixed money amount of £214,602. This maintains consistency with previous years and breaks the link with the investment portfolio. The Charity Commission and the Chartered Accountants have agreed to the proposal.

The Parochial Charities, Sermons Charity and Margaret Tindall’s Charity funds remain as investment funds.

Bristol Archdeaconry charities

Capital sum

The Bristol Archdeaconry Charity capital sum is a commuted capital sum. Bristol & Anchor Almshouse charity was entitled to receive 20% of the income from the St John and St Peter Church Lands Charity. The Trustees of the Bristol Archdeaconry Charities, who administered the St John and St Peter Church Lands Charity, approached the Charity Commission, with a view to restricting the charity. As a result of this decision, Bristol & Anchor Almshouse charity received a commuted sum of £353,000.

£220,000 of the £353,000 capital sum was applied to repaying a mortgage taken out to build the 14 new Almshouse flats. The £220,000 capital sum is being recouped at £8,800 pa for 25 years via a Recoupment fund.

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17

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

16 Movement in funds (continued)

Recoupment fund

£220,000 of the above sum has, under a scheme approved by the Charity Commissioners, was used to repay the Bristol & West mortgage. Under this scheme £8,800 per annum is to be invested for 25 years in order to recoup the amount expended.

17 Analysis of net assets between funds

Unrestricted Funds
General Funds
Revaluation reserve
Restricted Funds
Extraordinary repair
Endowment funds
Almshouse Charity
Parochial Charities
Semons Charity
Anchor Society
Hill's Almshouse
St James Whitson Street
Margaret Tindall's Charity
Bristol & Anchor Almshouse
Bristol Archdeaconry Charities Capital Sum
Recoupment fund
Prior year comparatives
Unrestricted Funds
General Funds
Revaluation reserve
Restricted Funds
Extraordinary repair
Endowment funds
Almshouse Charity
Parochial Charities
Semons Charity
Anchor Society
Hill's Almshouse
St James Whitson Street
Margaret Tindall's Charity
Bristol & Anchor Almshouse
Bristol Archdeaconry Charities Capital Sum
Recoupment fund		 Net
Tangible
current
fixed assets Investments
assets
Total
£
£
£
£
565,864
501,579
50,240
1,117,683
727,538
-
-
727,538
-
20,337
-
20,337
501,401
-
-
501,401
-
8,166
-
8,166
-
2,197
-
2,197
200,000
-
-
200,000
186,235
-
-
186,235
182,195
-
-
182,195
-
214,602
-
214,602
36,556
-
-
36,556
-
133,000
-
133,000
-
167,200
-
167,200
2,399,789
1,047,081
50,240
3,497,110
Net
Tangible
current
fixed assets Investments
assets
Total
£
£
£
£
571,883
473,437
30,682
1,076,002
727,538
-
-
727,538
-
18,327
-
18,327
501,401
-
-
501,401
-
7,577
-
7,577
-
2,021
-
2,021
200,000
-
-
200,000
186,235
-
-
186,235
182,195
-
-
182,195
-
214,602
-
214,602
36,556
-
-
36,556
-
133,000
133,000
-
158,400
-
158,400
2,405,808
1,007,364
30,682
3,443,854

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18

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

18 Prior year fund comparatives for the Statement of Financial Activities

Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
Gains on revaluation of fixed assets
Net movement in funds
Total funds at 1 April
Total funds at 31 March		 Unrestricted
Restricted Endowment
Total Funds
Funds
Funds
Funds
2021
£
£
£
£
1,590
-
-
1,590
190,710
-
-
190,710
5,075
-
-
5,075
17,756
-
-
17,756
215,131
-
-
215,131
6,896
-
-
6,896
248,018
-
-
248,018
254,914
-
-
254,914
207,329
-
-
207,329
167,546
-
-
167,546
(8,800)
-
8,800
-
370,000
-
-
370,000
528,746
-
8,800
537,546
1,279,179
14,261
1,612,868
2,906,308
1,807,925
14,261
1,621,668
3,443,854

19 Related party transactions

There are no related party transactions in the year (2021: nil) apart from those already disclosed throughout the report.

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19