Charity nurnber. 111635S Walthamstow and Chingford Almshouse Charity TTUStoes' report and financlal statsments for the year endod 31 March 2023
Walthamstsw and chilOrd Almshouse Chai Contents Page Trustee5' report tndependent audftols report on the rmala1 slat8m 12-15 statement of financial actlvities 16 Balance Sheet 17 ststementof cash ftows 18 Notes to the finandal Statements 19-37
Wallhamstow and chIAf0rd ATmshous¢ Charlty Reference and admlnistratlve dètals of thè eharity. ils trt*tee8 and advisers frJrth8 ygar 8nded 31 March 2023 DlreGtots of the Trustse Company Uhe Wallhamstow & Chlngford Almshou¥e Trust•e Compary Umltedl A Borkowska (resigned 27 Orlober20221 V Conant J KeartX% Rev. J LevAs-AJth¢W lrè5iled 27 Aprl 2 S MacNulty J J C Moss. Charrn8n I Moy85. e Charman A J Moore A Rtch S &nith P H Tredoux P Wiliams C Mccan VWheeler{¥piftted 25 Jarw 2tr231 Charfty reglst•r8d number 11163&5 Principal office M(cX Hall Church End Watthamslow LMdL E179RL Clerk to tho Director5 Independgntauditor KTeston Reeves LLP Chartered A(xountdnts Slalutcry Auditor Montsgue Place Quayside Chatham Maritme Chatham Kent ME44QU Bankers The C¢>operati¥e Bank PO Box 250 Skelrnersdal8 P4g8 1
WaItham#tow and Chingford Ahs Chaiity Reference and admlnlstsative detstts of th• charity, its and advlsers (conthLd) fortho ended 31 MarEh 2023 Sollcltors Stonè lffig 16 St John's La London EC1M4BS Sollcltors Hunt & Hunl 22- 26 Eastem Road R0rnfd RM13LT Inv8Stmont managots Investecwealth & trNestr 2 Gresham Streel London EC22 7QP M&G Investments PO Box 9038 Chelmsford CM99 2XF United lQngdom
Walthamstowand Chln9ford Alnthouse Charlty Trustees. report lorthe yearended 31 Mar¢h 2023 Th¢ TnleeS present ther annual reptyt togetswilh the aurfrted ffinanoal statnIS of the Charity forthe ye ended 31 Maidl 2023. Objectives and activib85 The objects of tho WaMham¥tow and Clingfkwd A[m$)se Charity are Ihe w0visic and c£obnuing MntenanCe of thè almshouses for fv befft (rf condthons of ffnancial need, who have been re5thnt for one year thin Waltharnstow or C1[d. or for ffive cThJsecLrtrve years at any time prior to appointrnenL Reskjue me must be appled fLYlhe rdièf of persons in fftwnck41 need residing within the area of benefiL Grant4Nkin9 policles The objects of the Charity ind tre of pSOn$ in (xthn5 of alKal need n the area of benefft in such rnanner 8S the tnBtees see fiL are fo(3Jgng on the rdief of poverty and in respecl to other ganatIOnS workng wilh benefw#3ries in the area of tthefft. to suppori those all6viat8 th& 8ff8cts of kN)verty or which ha¥e an unparton povety. The Charity cdL2borates knyth th8 LB Waltham Foresfs LrrA Wpjfare Assislance ILWAI stheme to assist local pec¥le ¥1 need more effecbw. The LWA undertake finand & assooated checks of apiCantS to the fund and will make refeaL$ to the Chty of laMr and iThJN¥Jua15 nsIdered to iewire further assistsnce beyond Ihe limited items the LWA is atrje lo wowde. In these cases. the Charity may prowdts additiDnal household items thai the LWA is unable lo suppty. and ThpwtaDty. seek to prowde support to knGal people wlv) may not be eligible foT relieffrom thg LWA whtth indudss I)se1h rec(wrse to wblicfijnds, orwho do not meet the resdency qv3rtheat. Referrals a also made by the G48. stnglè lThie]85s Charitie5, munul temporary housw seclkjn, 5thools. women and chIkJn retuges and hea and sla1 Wkets. Dwedors may Ml a numb8r of applirAnts to indepeThknUy assess need. Apr may also refWthemse5. Overall wts to InMdU and organt0131ed £106.193 o)rnpared to £45.433 L3St wr. The number of grant appllcatiolls from indiyiduals and 13MIleS irfftased to 99. of these 81 grants tolaifng £rJ,393 wore award during 223. T]wè were Orgarvsthnaj Grants totalw £31800 made overthe year, one smaIl grant of £407 was made to one organtIOn in 202122. Ofthe 99 applicatlons recetve¢ tJJkvJ the Jear. 86we #waed. Of the overal grants made to famihes and &ngle teopte tJy)se befilIng from new Musehokj goods aTh fumiture Cnt for approxm• 48% of gr8nt expen¢fjture, lkn)r Con95 24% of exPeJitur8 and whité goods suth as and wasFung 28% ofgrant eXpetr)drtU. Grants to O The charity ¢onlinues to supwt Chri5ban l(rtthen vhmch ldeS a hot meal everyday ol the sEar ts Ihe homeles5, and 0th8rs stsuggling to W0de f(A)d f themsel a grantof £15.000 was aarded. Bags of Taste wDrk spe(4fic4l improww thet of tlb)se in po¥etty. Ih058 attending the eA)urse have 8 £20 budget for focxl each week Bags ofTaste teac them to cook weat fd on 8 budget lofless thart £1 per pjrtbjn). Whilst dc4ng Ihis they have several sÈtondary Outmes. signrficant fral savings foT partiupants on 1heirfoodnak8away brf15: L¥)nIrA bdiTrg: betternutriTr lorfamilies of partiopants; dCtiOn in social isolatin," a strDng voluntrj strdnd. devew confidencq teadllng sknlls and tèamwo in our Iunteer& A grant of£SCth was awarded. Py3
Walthamstowand Chingford Alrnshouse Charity Tru5tees' report{contlnued) for the year ended 31 March 2023 Objectives and acdvllles l¢ontinued) South Grove Primary Sthol serves area Ihat has of thè hrghe51 of IeTritrY wtrolled gan9 vlolence in the UK. The sthooj a workng and surwhng the n]eX needs of som8 8xlr8rndy vulnerable chIldn and famoies. They have ako saen a ded the number of extema] Se[W that are awailable and have experienced shrTh)king Lgets 8Th1 Iht5 at a tirne when ¢iklren have been negatively affec4 by the impact of the pandemio The proje¢l wrns to ensure ¢U[dr in schoc4 have access to the Acad8ThHB Re&fienc PrDject- AFIP. This projed has In in¥Ared by the Resikn FTam6work - adapted from ie5eardJ Hart. BfjrKow and Thomas 2017. The programrne wll supptyt most knable gr1p8 of thildreTr to focus on developing aLxdemic resilienee in a lime when this dearly They wai parents aNI carers and chudren in U)iS Project over ten sessions with ea( Son Ioujslg on an area Tth reSe can be devdoped. These sessk)ns are held vwtually and the grant hdp set up a What Makes 3 GOLWJ Leamer envmnment in the househokds of50 children. this e]ernent provmled desks dffidren lo use at Ik)me. The pro has been operdting duting the aeadernic year ar feÈdbad( from thihlren and PanOrets to date demonstrates project has had a very positive irnpact on chiIthen. thority Injslees be the s(oc4 in Juty to see the impa(1 of the project f thSelVeS. The Drive Food Stan was ined by Ic¢al resldents at the startofcl9. the pr(¥ecl is now fwmlyfcrAJsed on supporting PÈDrAe * the sharp eTrJ ofthe &)st oflMNJ The Fc¥yJ Stal takes weekty and has done so Apnl 2020. with Ihe am to FrfowJe asvAde a range of nutrftious food as Fossible to thce usvjg the ryojecl irrpca1Ing fresh vegetable5 and fruit. staple foods such as pasta. and wotekn and )AtaTnin rtch items. S last May from an average of 40 at that tyme. stsll seNes approximatety 50 Museh¢)Ids th week. Atwyjl half of these tzk• food for famlies. so the prOjt assist around 150 pIu8 people we AkJng tamflies. users hIdje peo& Mih a history of hcmelessness - s(XM8 of whthn are hostel thjdlers. Ukrwnian iefugees lumed to the Wl suppcthl in rewt times. Such Is the levd of need that people start queuing up on Thursdays well before ow crfjening time of 12nth)n. The grant of £2000 has en8ed the staTh to purchase gocrfls at a time ofirfftastng foc#J prw and n(xeased n1. Belmont Park speci s(0 in wlhaM Forest Caters * full caparty fLY 65 students with Socaal, Emotional, andlor Mental Heatth issues (SEMHI the school support5 aTHI edLKat85 yLwng re aged btheen 11F18 sYar5 old who require speryabst trrion Imthin a small sdxN)I setting. The thildren e frequenuy from Smpovetished trdmilies and are p3rticgJlarty The granl ol £PJJO supports the sthool's Pantry Proiecl whtch pods fo(yJ and toiletrie5 for thldw and Ef8M&S in ne•1 Age UK was awarded a grant of £2(Kl for its clu151 hrnr projec* for distrlxltion to iscdated elderfy people Walthamstow and Chord.
Waltharnstowand Chingford Almshouse ChaThty Trustees. rnport Icontinuedl for th8 yearended 31 Mah 2023 lJbleeti¥•s and aelmties leontirjued) Grant Ilcatlon Pro¢ess There a kn518ge prrKess for chw11t OTgWySans to make an appliL%tion fLY a grdnt. Chanh"eslorganisatiofts are reQted to pmide a oUe of thpff adiwlw and what they requwe a grant for. ThÈ wuine proposal 15 a)ns¥Jered by the Granw Committee, whth ¢ades whether a futl submi55iary L the Chanties applicati.on ftimi shoutd b8 iequested. Before a derA%on is made as to w1her or not to award a grant, drectors usually Msit the Chattylorgarisation befrKe reo)mmendattons to the Grants and Accommodation Committee are made. (Xwrities and org•saI1S rec79 grant a reffjmred to pde a vrritt8n report of the use and inipxt ofthe wt after 12 nJnth& Spade Husbandry Alloknents Charlty The WahhaMst¥ and Chiwd thshouse Tnjstee Comparryi5 Iha truee ofthe Spade Husbandry Charity. Spade aTrJlment Site siSts of 120 pk)ts of which 41 are hair pknts and lh8 T8m8inder bewlq ftjll plots. The cffnmittee have one ofthe haWp]Lrts they&te thertaer. As wih olher sites of waiting Iksts ¥there appropiiate full pkns are now bety¥J spltt haff phjts and during r there were nfne tenantiès for Spade all of whic Vre hajf ph)ts with th8 8xc8plion of on plotlhatwas unable to be Sp lito t The tsjrrentwthg ltst for Vqnt pknts at Spade Ls quite snal at onty 33 peoe waitri Spade has a acth%e and effethe si<¥rn1 wlllth a(jiVetyrfks with the all0tnI manager b énsure the SMO running of the Spade HuSba[ry aents. The committee encnurages good praclrE gardèning. QTgaruse5 delveries for the yte aj operates a shed for th8 s8 of vegd4es and plantThe committee collécts site fees forwalerrates and key dep)gts. The vast maiLityofphts are1 marfained wrfh a vleW nctsujn letters knring to be sent out. Unfortunately asbestos cemerrt Was lOwj on the site ha¥ing been used as an &tsing rnaterid a plcL the sheeting was removed and (sposed of by an rAlTarlOr. The site committee be pLgLyng metal security fenc#ng rtain areas of the bouTrJary. The f¢rKarJ Can be damaged beYJ () Ihe edge of Epimng Fwest some ofthe lawtrees WnThng to rn fv 3t1)g fences. d. Public benefft In selling otiedives and planTng for ae$. the TnJ5te8s have syven (kje n$KleratI)n to general guidance published by the Chlty Commisgon ting to b&)effiL irtckthg the wtidarK8.PUbl beThlÈ runnirvJ a charity <PB21'. The Directors carefully consKknd the Charity Commission guidance 'Charite¥ and Pllb1 BÈnofif with regard to the prowsion of thshouses and grant maknng. The Dlrectots LY)n5ider Ihal the procedures in pl to advertsse Mrnshouse vacnoe5 reach as wd8 8 seclk?n of the k)cal o)mmunrty as possible. given the r8strithons imposed bythe Charity Scheme and the area of benef In additlon lo therti%ing, det&ls olth¢ almshouses we p051ed on the Eldefiy Atsxmm(xfjati(fft Counsel website, a national dalabase of housiyJ for older peo5rfe. The charity wll also seek noMinatiLs from the if its dre¢a applicants have insuffieient pfiority need for a vacancy. All qualifying appf¥Ations for acLKmmLMlalM)n are &¥ven r2reful nSideratIon and when a Vdcaw arises thosewth sulfiueni lOrity vwted to assess thew need5" the 8prA Thnfs siiuation is assessed in respect of finanaaf and hor need. socad need and as to vthethwthe ap1¢antwo1d benefit frorn Ing in SUPPOrted hsIng. A0ModatIon 15 offered to those aprIntS vith the greatest need. Almshous Accornmodation tharges are ai maximum VS sei at the LrKxl Hwsng Allowan rate. certain costs are subsklil by th8 Charrty. suth as tre support ment of stheme m¥ ojsts. water rates and TV ($ amongst othets. Page S
Walthamstow and Chongford Almshous• Charity Trnst88s' report Icontlnued) for the year ended 31 March 2023 ObieGIivo5 and athitses Icontlnued) Strategy Roviow The charity u% cur b)king at a joThit veni[re1th a local with a lo devdoping appr0MatelY n$ newalmslh)use apartts In c&)tral Wafthamstsx¥. A¢hlevements and perfornnGe a. FknanGial rvvrew Total income ¥ras £1.032.7fj6 oxnpar&l kn £989206 in 20212021 the inttease is lo the wee aintenance charge annvaj eaSe. and an £19.(KX) inuease investment ¢)Me. Totsl expenthture is È898,867 compare the previous year of £707.e64, the is partly due to fvel costs. £32.500 incfease The ffixed asset investmerts y3lue (Investment woperties and lisied invèstmenlsl has reduced in value from March 2022, frorn £1&345.SJ7. to Ell784 to ureIsed Ioss85 on investments of£612.237. b. Revlew of activlues The last year has seen a gradual rdum b) rAvmalty iThaudvig the socaal events thal have been curtailed since Mprth 2020. In March 2022 a JoThJ Star1 mwnberof aff rebred ané in adthtl to her leaving paty at CA)Ilard Court almshouse in March we were aso abIe lo rtrate with a garden paty for al residenis staff and $tee$ in the gJden ol Monoux Aknshouse. we also Wec bacthree tong senriTrJ trusteeswho had retired prior or during the pandem4 Lwt we had not been ab to cdebTale iheir (yJntrbulK)n to Ihe tharity over years. the CorgnaDJs pandemK arKI bckdowns all of us carne to under51and how Ifital it is to be able to acr£ss green space and bÈ able io enloy what natsjre has to offer us vi place5 where we fv8. ATI of our almshauses have generous gardens where regdents are awe to safely enjoy outrkors. the wldlrfe and where still able. the health benefits ol aciNdy gardeTrg. Many resK£ents have erfoyed gardening overthe years, but Tnany have h8d to ease up on whal ran {). The Charity nstalW raised beds at Monoux Nmshouse a feN years ago, but these were ShThJ th[ year5 so I keen gardeners at the aknshouses ure dehghled Wh POIrd Thomas Edwards arthtects. ¥vho designed the 8rd Win9 Coby Lodge Mm5house and lfjnd and Co. who built Cdby L¢Jlge offered Iheir support and on work to Yode residents with an enjoyable few months induding practical adice on gardening. 1Thv¢9 how lo (¥)tnFNt SULre55tulty. RE5¥JEnt5 were a150 enterlained at lh¢ hhjnoux Arnsh by a garden pthmance of dartt and by local thIdn. organised by Pollatd Thornas E(hvards 8T trAttrwed by a cetOry One Friday in October an entrsu&asti¢ team trom Kind and Co. bufiders selto budthng five raised beds in th8 klon0l Amshouse Garden, the gang Worked tirele551y (k)ing a lanlath j(kn and MpIetr5 it Ihe day. di$mVing and disp)sing of the old raL%ed beds. fdlng the new th Sdl. The raed beds received Iheir ckntening. the next day when herbs, flowers and shrub5 were planted ar a pty took place fLY all tIK)se irN0d in the pro1t. both days saw fine weather wfuth was a Lx)nus. All ofus at the Charity extend our gratide and thank5 to PoJ181d Thoma5 EdwaftJ$ and Kind 2nd Co. fortheir generous donalions of TrdS. ltyne person powwto rvake tt)ts posslAe. Comments from some of the r¢sidents Included: We jusl the rwsed beds and tt)e amazirvJ S"11S. 4N)licatL and graft of the men the ratsed beds from scrtth was trjty amali. Their attitud4 hllmour and finl$h was £tstan(ng1l. 'The celebrabcm) the next was long the th Rdl wwjg.. - Very pleased raised beds. no more teThlirwJ to FlantiteTsI and Ihey tookgorAI. the steepers used will last foryaars" h& raised have hew due to Iheirheight and ncrt ben¢fjry wll realy help. A lo Charity CREST &tinueS to use the garden ro(•n at Coll)y L(ty for t%w days eath week to prowlde a day Servi far local eld peLyAe. Ihe a(XblTty standards al Coty Lodgè makes the venue an ided setting forthe day seNi
Walthamstow and Chingford Alm5hou5e Charity Trustees, report{¢ontinuedi for the yearended 31 Marth 2023 Achiovernents and perfornpance Icontlnuedl The were wacanaes overthe ojvrse ofthe JEar as at May2023. al have been oowried apart kn three that have been allocattd to residents. wdthng tor wY>rks to fin and re%dents lo move n. Flats teTrl lo be occupied by our redents f( many yeats (wuenty the CharTty usually carries out quile extensfve refurbishment on voids indLhYing redecorthn5 aj I)r Ly)verrS. Increasvbyy as the properties ag?. new kitchens and bathrooms may be ffitt&J. akng heabry and hot water Rnprovern8nl& Th8 void h58 of incne for Ihe yearwas 3.5%. Th8 reCMM minimum h)ss wovlsion 15 5%, the rnaximurn 75 12.5fk. On a sad note. Trustees mark thè %Bry sad Ic5 of a Irfflg SeiTj memtw of staff. Blrgit Hubsclwlokwl the djarity ui 2006 as Ihe Alkntsllent Manaw. Lqlw also takrwJ on the rde of Grants aTrJ Adminithilw Offic4r. Biigt pa8sed away on 18th June 2022. arwj be miwd by evewE a5¥idted Mth Ihe tharty. Flxed assels The moentS in trnge fixe¢J a55ets Ihe )Ear are Set (yjt n nole 11 to the tsroal stalements. The Trustee believes Ihat the ftyed asset Atrnshlytse properties are wcth ¢£slerablY excess of the net book value disdosed in Ihese accounts: hw•er. it is unable lo quaitity 1he excess with¢Krt InriTJ signsfiG9nt unneEe5sary professronJ v4uation fee& d. Inv85tsnent pollcy and perforn¢o Llsted Sn¥estments The Charity CommissKJn Scheme regulating 1hè Charity pr5 no restibons cn the DtrectOTg powerto invest. The objecbves of the Charitls In¥estrllent Pofw are lo ens the creatk)n of sufficient InMe and cApital growth to enable the Chwity to Carry its pwposes by year. whh due th Fmper cortsideration for futu needs and th8 Maintenan of an rf posyNe. enharueTrt of the vdue of the irwested funds. The policy is reviewed annually. As at 31 Marth 21123. InvesteG Wealth and Inveslrnent Limited manage apprnrnat&ty WA ofthe Charws total investment portfoS0 on a dksl[ary ba515. The dredors wecaxle InStmeT in compantes invow in Imxne )Ile¢ted eth.. dwectcffs consKJersLth in¥ethents to be in COnflt with thè Ch&iils objerawe of rellef n need. No initial investment sh)uld exceed 7.5% of Ihe tLal Yalue ofthe tund5 managernent. Trustees, objectwes are to seek a balaed relum from incclne aYKI cpttal moderate risk parameters. The romiance of eath asset dass wll be mea5LTht aganst ielevant market indKe& The overall perf0rnnrA is CQTnpared to ? bespoke benrJnTrrk based the mid1( ofe• asset das& Measured agaN5t the underfwng indices foreach asset dass. Of The olher 50% fA the Charl. the maiffj was yNeed the M&G Charity Muttl.Assel Fund. whkh repL8ced the Nati(al AssocAton tsf Almsh(MJse8 Investmeni Fd IWICIF) in Novernber 2019. Tha 12 months to the end of MarGh 2023 was a tough L¥]e tr rnarkets Interest rates in the UK rising from 0.75% to 4.25%. r8tes were ratsed in order to try and ¢wb infial[c vthlch itseK rose by just over 1(Fh over Ihis period. Bond markets rea(Xed nega1ively to tr)th Ihe hhlerj itrfai¥)n and the hwJher nterest rateswith the UK Government boThY index (Ff All Slocksl prodng 8 tolaI retum of_16.3%. Whikt parts Oft marftei sh a5 LNI stocks p8rformed wdl. property was parbuJi2ty %4eak. relnIN-14.pA. GrLFh stod(s sullered as the raie at which their fvluie eash fltrws w8re brought bad( lo lcrftaS Vae$ suffwEd frown using a higher disCt ratè. r8sulbro kn weak retums in LwJlh UK8TrJ Q¥er¥ea¥ equibe& Against this backgnMWLd the of ihe fel lo £6.IJ80.526 which represented a gross relurn of 4.20A (- 4.6% net) over the financial year ¢LYnpared a rthm of-2ffj% from the bend)mart(. Th8 peer group net returns for t$ period was 4.0% for thè average (arity n the ARC Sleady GrovAh UnNerse and 4.5PA lor the ARC aV8r haIanced charity. The L3L of kng dated b(5 helped protect the fund frorn the Sharp falls in the bond market bJt 8 ligh weighting n property grovrth S meant that the fund suff8red in 8 similar manner to 0lFr chariti8s that adopted a defensr¥e as ex*nph"rd by the movement in the ARC Balanced Charityinde
Walthamstowand Chrngford Alrnshouse Clwlty TnBtees' report{conUnuedy forthe yoar ended 31 Alar¢h X123 Acb5gvemerrts and perf0mnCe Icontln The M&G Portfdio had a sxythe r81um oftKg% ¢Ympwed lo the benrtharf( of.1.8%. Directors, undertake an annual revivw of lrNeslnnts and monitor quaierly al Finar and General Purp05e$ Committee and Board meetligs. considn9 the temi Perfn of both portfolKts in conjwK( wilh shorter tem) perf(¥Tr, Diredors are o¥erdll sali5fdw1h the p8rfLYrnan Investment Propertles Investment properlies wwe rwdlu8d JY 2022. by Sawlb {Chartwl Surwrs) of London on an open market vdue f0rex1ng use ba515. the total Wdbje tsfthe proFerties £2.49100 Flnan¢lal revlew a. Golng ¢on¢em After makiw arvopriate enquiries, the Trustees ha¥E a reasonthe expectsuon that the Charity has adequat resdureas to c£tinUe in wtional eere for Ihe freseeabte fuiwe. FthiS reason. they continue to adopt the going cOnM basis in preParr the finanrid slatwrtents. Fwther detaos regarding the adopiton of the going concem basis ean be found in the accwititu polaes. b. Resems policy ThÈ TnJstee ha5 rriewwj Ihe t8senRs 8fMI has CmIe that free reser¥e$ of £900.000 should be retalned. which e¢JMtes to apwoximatety one years income. Risk management The dirertors have assessed the mai¢y rth to whth the ¢))ity ts tsXPDsèd. in parti(xJlar thos8 ielat8d to th8 operdbons and finances of the Chwity and are salisfied Ihat systems and wocvjus are in place to mthgate expJ5ure to the major rt5ks. The Charws Sen slaff repct threcty to a relet cA)mmittee cw to the Chairand Chaty of the Board and to the of the Finan and General Firposes Committee on risk management issues as appropriate. FL exampk safeguarding J)nCe in Tespecl of residents 8r8 Ter#)rted to the Grants and Acc4mmodat*)n CLynftittee as a mattwofcoutse, aTrg Tmth the detsl of actron taken. The crnIttee structure UMatety infom)s the board of risk arisllvJ and mituatiLYL measures. DirerAorsifwstÈes ale supportive of all employees and staff are encouraged to be open atKI about WlemS and error5 $0 that Indents can I dean with promptfy with the ain of mrIM1j any teial to (MJr benefficiarie& tha Charity. its stsff and diredore& Pag8 8
Walthamstow and Chlngfonl Alnshouse Cknty Trustees. report {CDnVnuedl forth¢ yoar ¢ndgd 31 Mah 2023 Structuft. govemaneè and management & Constitutlon and govtrnance Walthanstow ch10rd Arnshoe Cjjarity is a wsteral Chty. rrtjmber 1116355. aThJ ts ¢thted dera MemtyaThYum ofAssociation. Thè Charity is an amalgam o( many%aits. the fftsl iing endcA¥ed by Sr George Monaux upcfi the purthase of Lqnd from Ihe Crnt of the FkntyTrinty Pr¥Ny In Ahtyt&, LorKlon. in 1527. building thiteen almshouses, a 5choDI 8nd a feast room. In 1895 the numwtyJs charifies were regulated by a Stheme of the Charity ComThi5sion and were cdlecw the Wahhamstow Paroclual Charities. There followed four varwng Schemes of the Chanly Cornmission and 1957 a Commission Scheme govemed the Ihitty-three charities uThJer te of The Walthanstthv AJmshrAJse Generat Charitses. In June 2006 a sthe was ordered io govefft an (atitie5 and arnagarnate the thngford AsSe Charibes Kvth the Wathamst ChariJes Wmjerthe pre8eTht-daytilk of th&wathast1 arKI (Jungforé Almshouse Charity. A lirnited company. the Watthamstow and Chkn9ford Aknshcwjse Trust8e CompaTry Wds inwrrK>rated on 18th septemb 20D7 appainted ty a Charty COmmin Stheme of 28th September 2007 to administer Ih8 Ch&ity. Tr directats oflht campanyr[l8e1he bD¥d leads the aTKI sets th8 Lls strategy. The Charity TTUStee Is sole shareholder of th8 Watlhamsknv Ajmshwse Devekkment Company Ltd. The Development Company VAS e5tabb5hed to undertake the devekjpment of 20 new almshouses at the srte uwed by the cTiN)20111c The E17. tompleted in Marth 2018 and knu•m as Coby Lodge. ethods of appoinlment orele¢tlon of Thtee5 managwnent ofthe Chardy is the $pOn&t1Y ofthe nominated and c&oWed under the term5 of the Attides of AsscK4akn. The FInae and <erat PLWFttes Committee takes lh8 lead on reGnJitrnent of Diredots. Polleles adoptèd forthe induclion and tralnlng of Trustees New Dlredcts are provided with a ofthe latest set of Wrted attourrt4 the Seheme5 dated 14th June 2rJ)6 and 28th Seplernber 2007. the MemorandLTh and Artides of Asstyiatron of the Trust88 Compary. the latest minutes of meetings. a brief htory of Ihe Charity. the Charws L>)k Vhe WalU)amstow Clwritses. and tht Charity Commisswms PubALYtr.The Es5enlial Trustee.. The DeCIor wll be offered a Subscripts'c to relevant publiGqtions and Trustee training and seminat5. The Cterk to the Dwectors meel with the new t"recior règarding fin8n¢es induding uwestments. almthustt management a1 grant mthng. The Directorwlli be given a tour of the almsh)uses and a number of Int piowbes. The rw Direraor may attend one cr CoTnmittee ItingS as a guest tefcrfe deu.ding c£¥n(s) to SeTV8 ofL Di18ctors' meetings are hdd quarteTty. Ihe board is yjpported by fN8 aLv8 corn[[ee5, whith meet regulaty. The Committees are.. Finan¢e Gewal Purp05es' ccfflrrittee. whose resp1 Ilities ince Kry)aring and monitthg annual bet$. reoJMmerlllg PaYawa and weektymainlenanr£ charge Grants and AccomwnLxJatiLY4 whith deals Y[h granl hcwwj aF¢4IB)n Per50nnd. wlllc deals wilh Staffi matters polw and pr(xxdure. remuneralK)Tr and dÉc¥4inaryand griwdnce matters DevelopmenL whth prc•3resses Akn5h dewkjpment and refvrtqshmenl ple$. Allotmen( which deak 1th matters pertaining to the Chitys fraltent ts.
Walthamstow and Chingford Almshous• Charity Trnstees. r•port IcontillLtedl forthe year ended 31 ?h 2023 StruGtur8 governance and m8nagrrt{conlinuedl d. Pay poll¢yfork•y mallagent personnel In 2022 tlirectors appinted a HLman Resources tsjnsuiianl to undertake salary benclmarknng researth for senior staff employed ty the Charity. The Clétks Sary r8cently Twnaved and affjustrnenl aprKov8d by the Board in April 2023. Furuwwcrfk Is beivj thertaken resped ofothersraff. Plans forfutsre periods mshouses Diredors seek out opportunilie5 to ac4uire or de adltInal alrnsho. il is in Ihe tharitys best Interests for rt to b8 a8 to affordabIe it5 ¢wn inveslment land as thi8 dim¢n8tes the very expensive Fand costs thk% part of LLmdLJ. H(eVer olher opportunths w]1 be explDred, such as acquiring a develDpmÈnt sile or Illn9 up with a third bas The tharity 15 curtenuy in dt5cussions wlh a lo¢ (urc and dIreCtS are OFththclhat a sm811 devel• of 9 almsholtse apartments be The communal heating 5yslem at the Rkygers nh¢)USe has assesJ for placement as it is obsolete. It is planned that commun gas boaérs be sEd Ibefore the AuhJrnTh. it was h)ped that this work would be completed before the wnter of 2022. hThve%Er this was found to be parWLqrfy ts)stly and with other drawback$ thin the desvJn as the re4Uernt for a 5truL#ure to h(MJse the b(lllers out%dÈ whith would require tAanning pemyssoTh, so the design was ievi5ited aTrJ after consumation whh residents the new boilers wil now be sited within communal crfee rwm. this has hdFed bring down Ihe w5t ofihe InstlaIK)n WU b8 in the region of£110.0(KJ to decAmnwh)n Ihe old syslem, and instal plant and Ixpework. It Is planned that Sir Mon¢M AlmslKJuse have the flat do$ replaced to ensure they kyovide the necessary 30 mniute fire resistan. Improvernent wort8 have been unduen to these dooTS iry the past to engjre their fie resistance a5 Ihe knJl(fjng is Gra 11 bd. d$10 are lthng pe with the local conseNation oifw. Granknaking The tharity is seeing increased ntThter5 of appkations from MdmduS and farn11. this is to be expect8d gfven the cost of (xisi5 Wth Ihe incx88se in food and fuel The are also a large number of new hoLtsing developments Y4ithThi W&lhamstlW4 and Chujgtord. a go pro[( oflhese wol affordab housing to rent end in¢reasing numbers of grant applcatKJns are artripated as a result of thi5. Directors have Committ to in¢Jease the iwlldgetft grants to indThridualslfamls and Organisatior to £150.000 for the ¢))miry year, an hse of £70,000 Ihe ptewjs star5. arwyA bw, have been held at £eo,c(KJ for eral 5Ears. Page10
Walthamstow and Chlngford Almshouse Chaity Trustees. rèport (continued) for the yearended 31 March 2023 statem8nt Df Tnte85. rqsponsibuilles The Tru5tee5 are re5ponEAble for preparirvJ the Trustees. report and the ffinanaal staternents in a¢[dar wrfh applicable l&v and Unfted lfjngdom AtsuNiNJ StarKlards (Uni18d kngdcffi Generdlty Ap18d Aloting The Lw arplKabte to thwitses In Engknd & Wales req the Trustees to $yepa financlal statements for each financial which give a true and far view of the stste of affwrs of the Charity and of its incoming resources and appJirAtion of res(xr¢s. indudiro its in)me and eypendftJJe. for that riod. In pparIng these financial statement& Tfttst ar& reffjrrired to: set suitaile accounting [85 atKI then 8r¥tythwn rUstentr. obsenB the methDds and rAinriples Of Chwities SORP (FRS 1021: makE judgetnerrts arwj a(lling e5timate5 Ihat ¥e reasonabl8 and pmdent., s181e whether 8ppIKable UK Alnting Starndards (FRS 1021 ha¥e been folowed. suLled to any material departures dB(&)sed and explah)ed in Ihe fr[K statements.. PTepare the finan¢ial #aternerts (m Ihe g(#ng tyjncem bags unkss it is inappropriate to wesurne that th8 Charitywll o)nbnue kn bjs)8$% The Tnjstees are respon&tle for keeFing quate &>xxmting reeoTds that are sUffie1rt to shN and 8Wain the Charitws transactions and thsdose with reasonab accurw at any time the financlal posttion oflh8 Charity and enable them to ensure thal the finart& stalements c(¥nply with the chariti.es Act 2011. the Ch8rty (Accounts and Reports) Regulations aThJ the pr($ of MeTnoranthJm of Asso(xation. They are 8150 responsible for safeguar(ting Ihe assets of the Charity for tslong reasot)able st4)s for the prevention and detedion of fraLKI and ots llTeguLaTthe& Dknlosure of Infommtion to auditor Each ofthe persons wkj are TDJstees at the timeth4)en thi5 TTUStee< rwi is aFy01 has nfiFThed that so far as that Twstee is avare, there Is rn relwdnt au¢th infoTmatiL¥L of which the rJwTiWs aLKEtor is unaware, aThJ Ihal Trustee has taken aTh Ihe steps that ht lo have laken as a Trustee in order to be aware of any relevant aLklit and to e5tab15h Ihat Ihe thariws auditrw 15 awdre of Ihat infoThDalion. AuditDr The I(St0 R8ev85 LLP. ha5 ifKkated his VArS to CA)nlnue in The despJnated Twstees WI Propose a motion reapwinting th8 aKfiILYat8 rrwtujg of Ihe Truslee5. Approved of the membas otlhe lN)a ofTrustees and sb3nèd on thr behab. of Truste¢s of P4g811
Walthamstow and Chhiyford Al0se Charity Independent audltovs report to the knb5 ofWa1thandnd Chlngford Almshousè Charity Opinion We h8ve audli ed the fin8nd stalements of Walhanstcw and GNnyford Aknshouse Chaity Ohe 'thanW) for the year ended 31 Marth 2023 whtth cOmpe IhÈ ststement of ffnanciat actmbes. the baLance sheet, the statewnent of fhws the related nrAes. iThYurfry a summary of STgnifKwt UntIng pdiue& Tre finanaal ieportsng Iramework thai ha5 been appled n their wepardt>DTr is applic2bIe law and Uniied Kingdom Accounbng Stsndard5. indudr¥J Fwwvial Repjthg Standard 102 The Rep(thg Standard applicabl¢ In the UK and Republ¢ of IreLtr (United KIn9dL GeneraltyAccepted AccOuntid Pra(Xic81. The finawal Statents ha¥ been Lyepared th actdan th A(mthng and Reporting by Charibes eparing theirax4yJnts in actOTdancewth the FarKla1 Repthg Standard5 8pplicabIe in the UK and Republic of IreL2nd IFRS 1021 N preferetKe to the ActwntiivJ aThJ Rew1ing ty Charits8s'. Statement of Rewrrurb8nded PrdctirA issued on 1 Apr 2005 wPuth is refeTrd lo in theextsrt gationS Ixrt has wlthdrawn. This has be8n don8 in otder for the arLounts to a true •d faw vwj li a¢0)rdan with the Generalty Aepted Accounts"ng Prncke elfective tr reFXl1 peIS Innj on wafter 1 January2015. In ouropinion the and31 statements.. ge a true and fair eW of the st8 of the affair5 as at 31 Marth 2023 and of its iry¢ornln9 resources and ale2t)n ofreSoUrr for the prthon erbyed: have been property INep (n acc(dan0 with United lfjngjjm Generdty Accepted Accounlirtg Pr¥Ace'. aTKI have been prepared IJ acu)rdan¥rilh reojirements ofthe Charilres ALtt 2011. Ba818 foropinion We ndted tXT audit in a¥than with Iniemational Starblards on Autfjling (UK) (ISAS IUK)) and appltcabl8 law. Our resp0nsknjleS Lnderthose slandards a fvther des(¥ibed in the Jt0$ responsibiliis for audit olthe ffnan( statemènts Sec0 of(r rewt We are independent ol ihe carity in a¢ancth the ethical requiretnerrts that 8r8 reWarrt to our wjdit of Ihe fmpJJcial statements n the United dOrn, induding the Financial Reporting Councls EtI¥Lt starKlard. 8nd have fiJini&l other ethical responsibilitbes in actordance with these requirewnent5. We beSeve that Ihe aurt eden we have c1red $ufficTent and appwHte to pm¢de a basis fcffj 0ptrI. Cw¢lustons Telallng to golng ¢on¢em In auditing the fanrAal slalement4 we have 0)ndLd thai the Twstees, use of the golng c1)eM basis of a(xounting in the preparabcffj of the ffinancaal statements is arwopiiate. Based on the work have perford, have rKrt iderthfied any material wKethnties relating to ev or conditK)ns 1hat, individulY or wlJerlNely. m8y cast signifkxt doubt the ctharitws alItY to rA)nlinue as a gotrvJ ncmn fora period ofat least twelve llthS froub when th8 stat8ffl8nts ate aLrthorised for issue. Our responsbilities and the responsibllthes of th8 Trtkstee5 reswa to go1 nrn are deSbed in Ihe reknnt sections of thts Iq)otL Page 12
Walthamstow and Chlngford Alm5hous• Charity Independentau¢frto¢s rwrtto t mbe1¥ of Walthamstow and Chingford Almshouse Charlty (Gontinuedl Other Infomiauon The other th)nnatK)n cx)mryises the frnaOn iThckJ(W in the annu4 repori otherthan the fjnanryal statements and w awlitotrs report thereon. The TnTStees are resrKJngble the other ClaIM)n contained iwthin the annual report. Our tyllon on The statements does not rnver the othw 1Thnation and, except to the exlent othemse eWKittystated our r2POrt. do nol exrKess any frTh of aSSUrar ctsnrknick thereon. Our responstbility is to read other information and. in dong so. rmsider whether the olher Oaon is materially inconsistenl bwlh the financial staternerrt5 LY kThmf1ge Lthned in the rAMJrse of th8 audit, or otherwise appears to be rnateriaty misstat. If Idtify 5cTrch material (x)nSIstecIeS or apparent rnaterial mi&staternents. we aTe reqUId to determ0 whether th¢s gNes rise to a material mi&statement in the finanaal stalernents themsth& If. based on the have perfomied, we ldUde that there is a rnateal misstaternent of this other nformalion. we are rewreil lo rewt that far W8 have nclhing to TeFviin IFlls regard. Matters on whlch wo are required to reportby excepti We ha¥e nothing kn rep)rt in resptrx of the matters where the tharities (ACaxrnts and Rwrtsl RegulatiLYts 2008 require5 US to rep(xtto if. n owq)inK)n: Ihe Information gfven n the Trustees. repNI is inoJnsi5tent n arry material re8pKA with the finanraal statements.. or suffiuent acts)unting rwds have ncl tw W or the slateMts are not in agreemen¢wilh accountiThJ recuds and retums., or we have not rece[ al the inltyrnthn and we requir8 for ow audti. Responsibllths of trusttts As exFIald more fuly In the trustees. rtsponsaMTlies statemen( Ihe Trustees are resrKmible for Ihe w8paration of the financaJ stateJnents vthith gi%t a true and faw view. and for such internal control as th? Trustees dete kq necessary to at4e weparats( of financaal statements that are free frojn maieri mlsstatemert whèth&duè to fraud or errr. In preparirvj th8 Stater[rts, the Tnlee¥ we Sp($te a$sn9 Ihe charitys ablty to eontinuè as a giMrvJ corttm. disdosing. as matters related to going tc(eM and using Ihe going concam ba$ls of accounting wdess the Trustees thr Inte to fiquJate the ¢harly (w to se operatKts. or have no reaftioaIleM.Ve but to do so. P&Je 13
Walthamstow and Chlngford Amshouse Charlty Indèpenderrt audltorfs Teport to the of Walthamstow4nd Chingford Almshouse Chartty Iconilnuedi Audltorfs T8sponsibililies forthe authtof the fUnCial statements We Imve been appointed 8s auditor Und sedion 144 of the Art 2011 report in aCL0rdan with the Act and leVant gulati£5 made or having efferttherw¥Jer. Our objectNes are to obtain reasonaljle a55ufdtK8 abLYJt vthelh8r the financial statements as a whole are free from material misstalemenl. whellw due lo fraud or erni. aThJ 10 1syJe an dIt0S Teport that indudes our opinion. Reasonab assuranc i8 a tsgh of assurar. but is not a guarantee that an audit condirled In accord3nc£ with ISAS IUKI wil pthws deleca a Matal mr¥teml when Ii exists. Misststements can arise trc¥n fraud or error and 8re matwial sf. iV¥idua in the aggregate. they CoUj reasonabty bè expected to influen the dec#st5 of users tsken on the basis ofthese financial statement& IrrJuLrities. induding fraud. are IrnCeS of Ixs and regU10n9. We deslgn prdureS in Inie wth our reSponsiLN[e$. OU1r aLM)ve, to deted rnaleri missfatemenls in respect of irregularibes, IUdI fraud. The extent to our wocedures are capat48 of detern9 IThegu[an. inrJu¢thno fraud is detailed betcw. Capa oflhe ajdk in detethng Irregui9rilfes, indu9 The cknjeLves of r a11[ are lo tdentify 8nd assess the rfsks of material mi55tatement of Ihe fmanLyal ststements du8 to fraud or errLf. to (knIn appropriale audti evthleThx regardirvJ the assessed risks of material misstatement due to fraud eTt0 and to reswjnd appropriatdyto (hose risks. Ba8ed on our ersta of charity and Ind. and IhrDtryh disrasK)n th the dIreCtS and other management las required by staThJardsl. Y Klentthed that the [MinPaI ri5k5 of norpcomplrdnce w la and regUlatiS rdaled lo health 2nd safety, protecltcffl and erNoY1nent law. We considered Ihe extent to which rK)n-conpYiarKx rnight a matwi81 eftht on the finanaal statemenls. We also considered those laws and Iwdations that have a thred Thpact on the preparation of the frIarA8[ st2ternents such as the Charity Statement ofRecomrMded Prac arwj 0th8f dwtity iegulation. We comrnuruGgled identified laws and regulabons throughout Lwr team and remaneé alert to any iThJtsth)ns of Tr)n<TorKe throughout the audiL We evaluated TrusteÈs' and managenYS u)cenlfves and opp0rtuTres fraudulenl manipulation of the rrnawal statements 1induffj1 the risk of Oserride of controtsl and d&emiined the pciPal risks reTated to Pasting inappropriate loUrr trieS and managemerrt bias in ac£Ountg estialeS aThJ judgewnental aTea5 of Ihe fnal ststemenl& Audil prOdureS forms bythe engagwnent team In¢bed.. Discu5sK)ns vAth rnanagement * assessmenl of kTh)wn or su4)e&ed ll)Stan of non-Q)mplance with and rul30n$ (Indu(fing heahh arwj safety) arKJ fraud". arwj Assessment of tdentiffied fra1 risk faraor8', and Conducing In1eNe knith apwopiiate kSOnl to ga) fiJther insighl into the contrd gystems inplemented, and the rKsk of irreguL3riiy. and Challenging assumplions and ptsments made ty management in its signrftsnt aLXYJUnting estimates.. and Perfortning analytical proLEdure5 to vkntsfy any Lal or unexFttted relationships, including rdated party transa¢tions. that may Inale risks of rnaleri81 misstatement dua to fraud,. and Confirmation of re]afed parties wth managemen( and rev oftransacaiorts throLbJhwt the Peri to ldenfy ary pmiou5Jy undisckjsed tranwtiws knyth rdaled parbes (wtside the ncmal of bustrs& and Reathng mhwtes ofneling5 ofth05e GhaTgeil gOwn8re.. arvj Physal Inspection of tangibk assets SUsceplbIe fo fraud or iffegufarity. and of significant and unusual transarA)ns arn1 evakwtion of the underly#ig financlal rabonale wp)rOng the transa#n$.. and Identrfwng and testwu ioutnal enlwie5. in any rnaryA 8rrtries made at Ihe year end for finanaal statement preparation. 8ecaLL8e of the inherent Imitations of an 8LMfrt ther8 is a risk that we will not dd aE regarits. indLbding those leadiro to a material mi%statemenl kn the finan(iaJ slatetnents or llLKKx)rnph"an with regulation. This risk increases the rnore that &)mprkqn hyth a law or reguL3tiM is removed from the events and tran$aclions reflected in Ihe anal slatements. 8S VAI be to beoyne aware of InstarK* of non-complia. Page 14
Wallhamstow and Chlngford Alrnshouse Charlty statementof financlal acllvitsts for the year ended 31 March 2023 Unrestrlcted Restricted Endowment funds nds fund5 20Z3 T"otal fund5 2023 Total nd5 2022 Incorne and end0ents from: Donations 5nd legacies Charitable athwti.es Investments Totsl inGorne arKI endowments 588J67 43&013 &n3 367 594100 438.380 580,097 409.109 1.026.666 6.100 1.032.766 989206 Expendire on: Raisiw funds Chatitabfe adNitse5 38A43 022 793 1*289 141,992 61.854 837.013 647.W2 Total expendliu 731T11 4.815 161.281 8867 707.664 incomel{expendir el before net Ilossesllgain5 on Investments Net Ilossesllgains on inwtments Net movement In fvnds 29U95 1161.2811 131899 281.542 1228.0631 lJll3191 (600.382) 1.199.286 65,832 1.285 1533,6001 1466A831 1,480.828 Reconcilialton of fvnds: Totsl fu1$ brougllt fward Net movement in funds YO ftsnds carried royvArd 14446A43 6&832 18.367 1285 11.7276 1533.6001 221.086 1466,4831 23.740,258 1.480,828 3.511275 19,6S2 11,221676 24754603 25221,086 The Statement Offin3rAaT arthiAbÈS inchKtes gains I(tsses in the r. Th8 notes on pages 19 to 37 form part ofthe5e finanuaj slalement& P4e 16
Walthamstow and ChingfoTd Almshouse Charity Balance sheet as at 31 March 2023 2023 2ff22 Flxed assets Tangible assets Inv8Stmenls Investrrent wop 11 13 12 681.673 la78434 1492.000 8.825,453 13.345.507 2.499.500 238.2/ 24.870,460 Currentassots Ckbtor5 Investments Cash al bank and kn haThJ 14 15 6S.678 738.809 136.204 63.133 418,779 152.622 940m1 634.534 CreditOTS.' arTh)unts fang duewiltth one 16 11442951 {83.908) Net currgnt assets 796.396 550.626 Totsj netassets 24,754.603 25,221,088 Charityfunds Endwment funds Restricted funds Unrestiicied 17 17 17 1122IS16 19.652 I311275 11.756,276 18,387 13,446,443 Total funds 24.7S4.603 25,221. The finarteial sts Mts were apWOv and #thised for bythe TrusteÈ8 and saTred on theirbehalfby.. Ch rl85 The notes c$ pages 19 to 37 fwm part ofllse fmanciat statem& Page 17
Walthamstow and Cltlngford Ahs1)se Charity statY*llt of eash 11(w forthe year ended 31 Marth 2023 2023 2022 Cash flows from operating activnies N81 cash used in wr4tirwJ actre$ 1644.4151 762.787 tYwdend& interests and rents frE¥n IneIS Purchase of tawJible e assets Praceeds from Sale of uwestmerrts Pw¢h858 0flnvestnnts 438.380 409,109 (653} 1.799.758 792.539 11,610.1411 {1.992.588) 627.997 (191.593) Net cash provlded byllu%ed In) hwestlng actlv511es Change rn cash and cash equlvalents in the year Cash and $h equnmlents at the Wnniry ofthe svr Cash and Cash equlvalents atthe end olthe year 116A181 152.622 128.8081 181.428 21 136.204 152,622 The n¢Jtes on pages 19 to 37 fomi pa1 of these financial statements P18
Note5 to the financial slatements forthe year ended 31 March 2023 General Infomlatlon Wallhamslow and ChrMJf¢xd Aknshow Charty 15 a tharity regi8twed Eryknd. The registered klress ks Mo Hall. Ctmjrch End. Walthamsluw. Loth. E17 9RL Aceounlfng poAeles 11 Bas15 of Prepara0 of fmancial slatements The charity o)nslitutes a Ixth benèfit enkty as dthed by FRS 101 The ffinanrial Statern have been prepared in actordanc8 wlh A(XXMmting arKI ReporlrvJ by CharTbe5: Statement of FInanCa Re[]J Standard ar(IKalJle In the UK and of Ireland SUed in Ociober 2019. the Finan¢Td Rerthvig Slandard applicatle in Ihe United K¢Th arby Republc of Iidand IFRS 1021. the Charibe5 Ad2011 and UK GeneratyA(xWed A(¥))Unti Pract. The financial statements t7 rKepared trj gwe a Iwe aThJ fairf view aTrJ have depd from ChaIitEs {Accounts al Reports) Regulati 2Crf)8 onty lo lh8 extent requred to rywde a 'true and fa Th5s depatkne ha5 Involved fo the Awunting and Reporbng by Charities.. Slatement of ReMmeJed Practs aN1ats]e to charitiè5 Prring th8ir aOnts in acu)rdance with the Financial RepoibThJ Slandard appWLxL4e n th8 UK aTKJ Repubficof Ireland issued in October 2019. Watthawnstow and ChiWord Atrnshouse Charity meets the definrftcfft of a publlc banefft entity und8r FRS 102. Assets and alti65 are inilialy at htstcwirAI (¥>st or transactw)n vatue unless 22 Golng concern The Truste8s considw whethw the use of o)Thxm is apwopriate i.e. vA)ether therè ar8 any Materi uneethnlies rdatBd to or (xJnditth)ns that may cast svJnthanl d(MJbt on the ability of the Charfty to continue as a g(MTrJ Corern. The Trustees make this assessment in raspe(X of period of at least ce year frrmn the dale of wthorisation for issue of the fina[jaI staternents and ha corK4uded th the Charity has adequale reSrAjrrS to &tinUe in cyrational exist for th8 foreseeable thre and Ihefe e no matsrial uncertanties alMXJt the Chwivs ability lo ntinue as a going concem, thus they ¢(Krtinue to adopt the g(Nng eoncem bats of acuunting in preparing the financ4al statemerbt& 2J In¢omo AU InMe Is rec(Jnlwl Ihe ¢Jrity ha5 enlillement to thè rMe, il is probabl6 Ihat the inCCn7e be eNed MJ Ihe 3rncxmt Ofince reravable Can be meagjred lably. Grants are induded the siatement of tyj a refvaL4e bast6. The balan of in¢ce red for spe¢rr wrposes but Tr)t expet)Jed durirvd Ihe pwiod 15 shown in the relevant fuNls on the baL4rKX sheeL Wkn nrne k8 receiNEd ui advan(t of entillemert of reeelpt, its recogniti5 15 deferred and indLhJed in csethlors as deferred incLne. Te entitlement before inLyne ts recelved. the is accw8<L In(yJme tay I)veb in rekITc lo Inv¢*mt intwe is regnj at the tlme Ihe Investment come is receivab Other income is reccgfiised in the peTKMI in li is rece and to the exterrt Ihe gLMMls have P&Je19
Walthamstowand Chlngfonl Njmshouse Charity Notè5 to the financial ststemeDts forthe yearended 31 March 2023 Accounting lIcIeS Icojrflnuedl 2A EXpen(Ure ExpeThffiture is recL¥rMsed Ihwe is a leg or wislrurAwe ob¥n lo tr ecx)nomic benefft to a thirij party. rt is wobabk that a transfu of eCcorrC benefits wll be requwed in setttement and the arnour)t of the obligatWJll be [neaTed refkqbty. ExTMthre on ratyrrfj fuThJs Inchjdes all exp8TrditurB IrK>ed by the Charity to ra15e fL5 for its ¢harilabk purrM)ses and iThJudes o)sts of all bjndrasnw a(thtSes events and non<haritable tradng. Expenditure on chaFit8ble 8dMtses is inoJrred on th[Y the acamtses whK furthw the Cws Obj.ed as well a5 any aSSlated support cnsts Grants Paydbb are tharged kn the year7A)en th8 offer 15 rnade ex(¥ in those rAses where the offer is con¢Ath)nat. such grants bel recognised as ewdrtltre the CditIonS attathing arè tfilled. Granis Offer sCt to (xJn(fthns vthith not b8en rTLet at the y8ar 8rwJ are noted as ornmitment, but rl acuued as ewdrture. AU 8xpenditur8 is indusi¥e of irreWevAT. 2.5 InterB5t re1¥able Interesi on fijnds hebJ rxj depo&t is incsjded wln recelvabte aThJ the am(yJnt can be meaSUd reliably by the Chlty. this is upon of the interest or payab by the Instituti( with whcAn the fijnds are dep05iied. 16 Tangible fred assets and depTeciation Tangb]e ffxed a5set5 coskng Q500 or mowE are taSsed and reccqrwsed wh8n fulur8 n0[ benefits are probable the cost orvaue olthe asset can be meagjred 0bty. T3ngQJ]e ffixed assets w¢ iniliauy recognwl at cosL After recognthn. under the rnst model. tangible assets are measured at cost less (mlated deatK 8nd any accAJmulated rnpairrnent losses. All ir¥)Jrred to Ing a taryth fixed assel into it5 Wrtethyed worknng cfjnditr should be induded in the measurement olo)sL Deprecaation is thar so as io allocate the o)st of tangibIe fixed assets lass thair reswjual vakne overthew estimated usefvl l¥es, Ihe stravjhmty methcAJ. D8preLyatK)n is PToMd8d on folltybing bases: Freeh(4d pr4wty . 50 cf ao straight rule Freeho land - Not de[Ciated Ajrnshouse Linent - 20 ywrs 5trdight line Computer and Offi ewHpnent - 5 year5 strdiglrt In 2.7 Investments sted investments are a fomi of hBlnJmeth aThJ a IntsaI Ksed at their trdnsaction C05t and subsequenty rneaxwed al fwr value at the Balance sheet date. unless faw value nn0t be rnea5ured reliabty in whth case li r& [rasUred at ct less impaimlenl. Investment gains 2nd losses, whether a'Sed or Unrealj, are c£KntMned arwj 5tMY4m in th8 headirvJ 'GanslUosses) on inveslmeots, in the Statement offowvial acb¥thes. Invesbnent propertie5 are meawred at ffr Ydlu8 al each reporting dale. Ch8nges in far va? 8re rvjognlsed in'GainslUossesl on InvesimaW In the Stai&nent offinanoal act.1*s.
Walthamstow and Chlngford Alm5hou8e Charity Notes to thèfiJHnrAal statements for the 31 March 2023 countlng pokleg {conthuedl 2.8 Del)tors Trade and ther detAors are recA)gniwl al sdlement amounl after any trade dixount offered. Prepaents are ved aithe arnourrt wep3hl netof anytrade discnts due. 2.9 Cash at bank and in hand Cash al bank and kn hand jude$ cash and th)rt-t8rrll trugh I[88tswIth a sfvjrt maturity of the months Jess frcwn theijale ofac4¥Mthn or opening of the Ikposit or simitar aco)unt 2.10 LiablE ittes and provigio Liabi5bes are recogntsed there is an at the balarKe sheei dale as a resutt of a pasi evenL it is probab that a transfer of e¢x)nornic benefftW be required in seWemenL and the amount Liabl"e5 are e09nL$erf at the anount thai Ihe Chity aniicpates itv11 pay to setue the debt orthe amount it has rec as adwan¢xd payTnents k¢the gc$ orsvites it must prowde. Prthtsions are rn•asured at the best eslimate Df Ihe amounts r[red to the otligabon. Where the effed of the time Wdkje of money Mat]4. the pr¢)viston based on the present value of those amounls. diSCnted at the pr8-tax th5count rate Ihat refiects the risks specific to the liabHty. Th6 UnwndV of the ¢JiSC( 15 recJgnEed in the ststement of fnancaal thitses 2s a ffnancÉ st 111 Flnandal Snstnu) The (knity orty has 8ssets and finanoai kt4bttes of a kind that qualfy as basic fsnanaal Instruments. Basic finathial rtslrufftÉnts are initially recJgnised at IrartsactiDn vaue and svbsequentty mea5ur8d at Ir 5eiUemeni va]ue the eXti of bank loan5 wlich are subsequently meaSUd at amcY¢LI a)stusxvJ the effedTr interèst rn&th. 2.12 Pensions The Charity operales a defmed Ca)nInlti( pth)n sthome aTrd the penslon durge repr8sents th& amount5 payab18 bythe chity10 Ihe fund n re5peca ofthe year. 2.13 Fund accountlng General funds we unrestrNAed furKls whvAJ are w&labte lor u58 at the (fisuelp)n of Ihe Trustees in furtheran of the gwal rtleCtr of the Chity and ¥¥h¥th have not been designatwj for other D8ST9nat8d fUS (xjrnww unreslrKaed firklslhat have been set aside bythe Truslees f0rparkn"ujr P05es. The arml use of each de5b3naled sel cArt in the notes to the financaal stslement& ResttKed fLrnds are fiJnd$ are to used n acxxrdartrr£ 7tfv spedfic restrlcaiMs Imposed ty d(or$ or whith hav8 Lwn rak%ed by the (arity for parlicxrfar purpose9. The costs ol raising and administering suth fund$ are (a)arged the speofjc fuj. The aim aTrJ use of each resknded fund is set out in the notes to the slatÈments. Page 21
Walthamstow and Chlngford M$hOuse Charity Notes to the firrdnciat statements forthè yearended 31 PJarch 21)23 InG0 frvm Charae activhies Unrestiicted Restrlctrd funds funds 2023 2023 Total funds 2023 Total fndS 2022 Almshouses. We contrilyJtiOn5 S84.497 3070 58£497 3.870 5.733 573.044 2.140 4,913 Spade Husbandry 594.100 580.097 Total 21J22 575.184 4.913 580.097 Inveslment Income Unrestri¢ted Restrlcted funds funds 2023 2023 Totsl fvnds 2023 funds 2022 Incorne from investrwl propwt Diwdends receivab Deposit inlet 47.045 381.008 47.045 381.305 10.030 46.210 2.100 297 438.013 367 43&380 409.709 Tota 2022 4.828 281 409.109 P¥22
N¢Aes to the flnanelal ststements for the yearended 31 March 2023 Expendlture on ralsing fundg Unrestrfcted Restrktetj End¢Mment funds funds flmds 2023 2023 2023 Total funds 2023 Tot8[ funds 2022 7.739 835 168 222 769 152 79 28,933 20,974 1,983 4.861 758 Telephe &aff training and tra Prinn9. poslage and statKmery Computer costs SubsLTPtion5 227 545 215 148 30,584 21.945 871 152 Irwesknent managers. fees Staff (Sts. gross SaleS Staff CA)Sts- Nl 19.289 17.274 1.661 3.7CrfJ 38.543 19289 61.854 60.3S2 Total 2022 36.821 3.152 60,362 Analysi$ of grants Grnnts to Grnnts to Institutions Individua15 2023 2023 Total funds 2023 Totsl funds 2022 Grants payable 73.393 106,193 45.433 Totsl 2022 407 45,433 In knth the Trent and previous year the total grants P¥dble were al from unrestricied funds. The charity made 86 grants lo Ihi8 JEar (2021. 511. Detai15 of giants made to y)iUlIOnS be foutwj below.
WaItharnstowand Chingfonl ATmshoust Charity Notes to the financlal slatements forthe yearended 31 March 2023 Anatysis of grants Icontinuedl The fvity has made the matelial grants to inSrts thrng the w. 2023 2022 Name o11nlti10n Christran lfjtch8n South Grove SclJrK Bags of Tast$ 11)00 4000 30.000 Othwgrants kss than to inslitubc 1800 407 34800 407 RepIerrt5 Df grant5 rm15t r85wJe or tywate Walhamstcw w chin9 are sutmitted on a standard fomi and checked for dtyJiblty befwe usuafy passng to Directors of the Trustee Companywho will wslt the applcant The Msitmg Dwe(lors repcrt badc io the Grants and AcrA)mmodatK)n Cornmitiee and make a recommendation as to whether Ihe granl sFbJukl be approved and then agree upon the amount to awarded. tre (letwls of want are theTrusteds RepoTL AnalysSs of expenditure on 110b1 acbvilies Summary byfund type funds 2023 funds 2023 funds 2023 Total 2023 Total 2022 141.W2 837A113 fj47,302 Total 2022 .753 558 141.991 647.302 Anatysis of Èxpenditure by aetivitles Grant urtdertakèn of do5Y a¢tfjvities 2023 2023 pport costs 2023 Totsl fund$ 2023 Total fvnds CharitabIe aLIMtitss 641.265 1Cfj.193 837.013 fj47,302 Total 2022 528. 45.433 71gJ2 647,302 Page 24
Waltharnstow and Chingford Alrttshouse Chaity Notes to the finamdal staten forthe yearended 31 Klarch 2023 Anatysts of expgn(kn byactlNltles {CODtlnuedJ Analysis of thrertcasts Total funds 2023 Total funds 2022 Staff rn$ts Depre(aalion Legal and PTofesSrclaI fees Routine repatrs Lwjjt heat Water raies 144290 143,779 38.2SZ 151.849 143,778 6.114 86.608 19,063 54.1)J1 20,871 F Jj Council tax for empty flats S8(xwity Re&dents Out parfig8 Re&dents TV It Insurance CleanThig Gaiden rnaintenance 181 6,038 8,100 809 21B 14.880 815 17.359 10.685 11.243 18,662 13.282 11.057 641,26S 528. Analysis of support costs Totsl funds 2023 Total funds 2022 staff c¥)sts Telephone Staff trainng and Prith"ng. iy)stage at)d stalknery CompLrter costs Sub5CTiPtion$ sUndrysts Trustee meebngs and expere$ Audit fee and st8tutoryac£ounts produ4 Legal and profes5iona] fets 29,112 8.431 1,689 1,983 7.787 .$41 375 30.403 7.652 5.517 2.185 1,418 85 13.080 8.418 426 15.540 21671 89,5 72902 Page 25
Walthamstow and Chln9ford Almshoe Charity Notes to the financlal statements for th¢ year ended 31 Mar¢h 2023 Staff costs 2023 2022 Wages an¢3 salaries Social Srity ex>sts 172A92 12.715 11.152 182.635 12.308 10.125 196.359 205.088 2023 No. 2022 No. Offte staff OFeratlonal staff The awage head(nteXplesse as ftime eowatents Wds.. 2023 Operalional staff No emptoyeè reeoived remuneratK)n amcthfing me than £60,Cth in eitt)er5ear. The tL*al remutseration arKJ beffl$ red ty the clwritys key management during the finanoal yearwas £96.46812022 £88.771). 10. TnBt¢e$' remun¢rntion and e¥pen8es During the y¢¥, r#) Trustees recei¥Ed anyremunerakn ar Oiherbenefits12022. £NIL). During thè year endad 31 Marth 2023. Trj Trusteè expatses have been inuJtred12022. £NIUJ. Page 26
Walthamstow and Chinyfoftl Almshouse Charfty Notes to the flnandal StentS for the yearended 31 Marth 2023 11. Tangible fixed assets property fittings equipment Total Cost orvaluatlon At 1 Awil 2022 lo,414 35.743 7.805 10,458.37 At 31 Marc 2023 lo.41423 35,743 7.805 10AS8.371 At 1 Ar1 2022 Charge forthe Jtar 1.604378 141J93 18.736 1.787 1.632.918 143.780 At 31 Marth 2023 I.7371 20.523 1.776,698 book valuo At 31 Marth 2023 8.66W2 15320 .681.673 At 31 March 2022 8.808.445 I7.(7 8.825,453 The Charitys freehold land. vJih the exreNion d the freehdd thshouse at 1C The Driv was all onaied and w85 not earAlalised" Ihat the gifts were made many years ago the Directors of the TtU5tee Company bdEve Ihe vakte when given was nol material. Hence no land vaIue is included above forthe origTna prcleS and Ihè ful c05t of th8 i5 b8irwJ depr8(xated. OrIglnal Cost offyhOld prowty The RlrS Afmsh(4tses Mornux Aknshouses Squir85 Arnshouses Collard Mmshouses 1C The Drive (SÈÈ betuw) 956.748 647.819 133030 1,506,825 7.164,103 10,408P25 IC The Drive. Warthamstcw vras purchased as a freehdd by the Lthanly £900.000. The demollth)n of the pr(yty has been treated as part ol the land &)sL Thls and all lated c¥)sts have been wifalwl above uThT'Freehokl pryty. The Direcaors ofthe Tntstee Company not ojnslder rt .7 ( IWI (given that the properts.es ar& held for th8 long-temil to Ihe ¢fftrene bei4%*en the net kJDk vaue Df freehoId buitdings and Iheir rnarkel values al the yearernl. Page 27
Waltharnstow 2nd Chlf0rd AlTrLsh0 Charity Notes to the financlal statements for the year ended 31 March 2023 12. Freehold investment property Valuatlon At 1 Aprd 2022 DisposaL% 2,499,500 17,5001 At 31 March 20rJ 2,492,000 The 2022 valual¢o were made ty Swls {Chart¥ed Swvwrs) ofLondDn as of 1 Juty 2022, on an open market value for eyisiiw use ba*"& lr$4wtTrt wwties ¢>)$t ot. Land used a5 10tents. Hae End Road (8.0 Arxesl HQeYb0e Lane13.2 Acres) Trentherfield13.8 Aues) Other Ld. Soufft Side of Shemhall StreeL LorKlon E17 (02 Arxes). Properbes.. 880 Fdrest Road. Land. E17 882- 884 Fest Road, LOTVJLYL E17 886- 888 Fest Road, Loth. E17 Willisrn E. Whilbngham Schod Flats at Dennu8 CoLrt London. E17 85 Albert Ra1. LorKk)n, E17 26 Briedey Road. LoTrdon. E11
Walthamsttsw and Chkngforf Charfty Notes to the financlal statsmeDts forthe year ended 31 March 2023 11 Frxed assetinvestments Unllsted securlties Usled $urItieS Total Cost orvaluatro At 1 April 2022 Addithtins 13,344508 13,345A07 1.701,514 1.701,514 11.650,2501 11.650,250) 16112371 1612,2371 Disposa5 Revaivations At 31 Marth 2023 12.784533 12.784,S34 Net book value At 31 Marth 2023 12,7W533 12.784A34 At 31 Marc* 2022 13.345,508 13,345,507 Page 29
Walthamstowand Chingfoyd Almshouse Charity Notes to the flnandal statemenls forthe yearended 31 March 2023 13. Flxed assettnvestrnents Icontlnued) Pthclp815ubsldlarios The tsllomng was a gjbslthary uixkrtakww ofihe Chaity. Namo Company Reglstered office orprincipal Principal aclivity nurnber place of business WalthaThslow Almshouse Devdopment Company Limitwj I393>)1 Clo Watthamstow & Chinglord Forthe development of a new almshouse Hat. Churth EThJ. Ld, E17 al 1C. The Drive. 9RL Walthamstow. Class of Hololng shar Orthnary The financial re$ ofthe subskfL8rytrthe ye8r¥e. Nanw Expendrlurn ProfiVILossl forthe perlod Netassets WalthamsknvAmshwse De¥elrwenl Company Limited The turnover has his91 Ien in Ihe finan¢ial Statlts ofthe charity as the largest part of the Lxpital expenditure on 1C The Ehi¥e ar¥J is very dose to the histOriG trading exwditure. Other Income aThJ expenditiNe is rnt coded to be material to the diarity. Simikrty balancÉ sheet amounts are not ¢onsdered to t* malenal to Ihe ¢hwity. A(x>)rdOy (s0dated financial stalements w0d rnt vary matÈrialSy from the Chartyffinancaal stateffnts and have not been wepared. 14L Debtor5 2023 2022 Due within one year Trade debtors otherdeblor5 Prepayments and accrued hoMe 7,397 9,585 48.696 3.578 4,724 54.833 65,678 83.133 Page 30
Waltharnstowand Chingford Almshouse Charity Notes to the flnanclal staterne forthe ytarendtd 31 March 2Q23 15. Cunent asset Inveslments 20ZJ 2022 Insestrnent 738.809 418.779 16. ¢rethtO Anwunts faifmg due within 4)ne y03T 2023 2022 Trade ereditors 37.692 16.401 383 89,819 16.401 ArmIS and defwred tncu 44.415 14429$ 83.908 2023 2022 Deferred incom8 at 1 Ap1 21ri Resource5 defgmd ¢knring the y Amounts releasÈd from prewus pemds .903 13849 111.9D3} 11374 11.903 (113741 tkferred incorne at 31 March 2023 13 11,903 Paye 31
Walthamstowand Chingford MShoU8e Charity Notes to the flnanclal statements forthe yearended 31 March 2023 17. Statemeniof fimds galan¢e at 31 Idlarch 2023 Balance at q April 2022 Translers inhut Ga5nsl ILDssesl InGome EXpertd Unrestricted fund5 Designat¢d funds Ahnshouse building Extraoidinary repairs IOA33.754 246A31 1121.6751 10.558,510 1A74.736 {69J221 1.531.779 Cal mainterwKe {$9.3691 43.402 521J86 12y6.443 159.3691 316.198 1190n 12.61127S G•nernl funds GeneAI fvnds 900.000 1.026.666 1673.4021 {31Q198) 137.1]661 900.000 Tolal Unrestricted funds 13.44W 1.026,66B (7317711 1228.0631 14512,275 A designated fund hekl for Ihe completed wnstru(thn of a alM5u59 projed and future almshouse deveknpmenL Diredors of the Tnjstee Company have decided to Move fjjnds in the general fund in excess of 3Tound one >Eaffs InMe(21J22. ,()1 to despJAated fund& The fund at the end of the year is lD0pallY represented by tiwestTrnt depoyt fimd& with the balan represented by fwl asset Insstnts and tyaSed $1$ ofthenew M$hAt The Charity aTso hdds designated fwjds for extraordrory repars to ts atmshcrtJ58s {iepr8senteil by investments) and Ms1rrtenar Carried oul 8very 5 year5 on the thshouses liepresented by investsnent deposits). EndoT*Jrne funds Caprlal ftmd Spade Husbandry 11.748h91 {161.281) 1372,1021 11.215.108 7.785 12171 7,588 11.756276 (161.281) {372,3191 11.222,676
Walthamstow and Chlngford Alrrk#house Chity Noteg to the flnancial stataments forthe year ended 31 Marth 2023 17. Statement of funds Icontryiue¢r The Captsl fund represents the Chawity5 endtyvments from the Wdrious different eharitses that have been am8lgan8ted to cr8ata o)mprys freehDld wpertses lexr£pt 1C The DAvel and all inveslrnent protS, togeiher wth a balae of non-property investm8nts. The percentage of non-property investments hdd vthii the fd at th8 JEar end was 62.0% is awlied to iTrvestrrtent gains and losses and investment matwemerrt co¥ts VL orderto aFporbon these to the flnd. ptease see the ftote bekyw Spade fijnd kn detras of the Spade Husbandry Ak)Imenis enth)wmerrt fund. whtch reprQSvrt hy instmenis the balance in the bank {the associated land is owned ty the CorFml)n of LnThknn tts use as albtmenls in a(OrdanCe with Act of PailrdWn). Restrl¢ted funds Spade income 8.367 6.100 1652 The Spade income fund r8FYesents money hold for the Spade 5bSndry pMb)tments Charity. The Charity acts as Ttusiee of Spade Husbandry 1)tments arvj particJJL4r hL*ts its endowment (see above). Incowne frDm the end(1ment fund, akng wtih reni from the chartys allotments (which are induded in land owt)ed by the C¢Wati of Lo[wJ. with the tharity hang statutory rights to the Lgndl, Is used to manage the dtotrnents Th8 irtene a1 exKWThJ IOT the 5Ear as shown for th8 r85tricted fund 8bo¥e. Total of fijnds 25.221.086 Im2.766 (898.86n 1600.3821 24,7S4.603 P8ge 33
Walthamstow and ¢hingtord AInouSe Charty Notes to the financlal statements for the year ended 31 Alar¢h 2023 17. Statement of fund8 Iconttnued) Statement of funds- priorar Batance al 31 March 2022 B3fanr£ 81 1 April 2021 Trnnsfer5 Gainsl ossesl In Ewthture Unreslrfcts funds Deslgnaled funds Aknshwse building Exlraordwory repairs Cydi(al maintenance 9.879.gJ7 155,758 10.433.754 1,449.118 15.755) 42,a3 88,740 1.574.736 {15.6641 70.183 537.953 11.812.059 (21.4191 511J)5 244.498 12,546.443 General fitnds General funds 984,012 1520.1551 1511.305) 47,448 900,000 Total funds 12,712.059 984,012 1541.514) 291.946 13.446.443 Endowment funds 11,¢IM,038 {161380) .833 11.748,491 Spade Husbandry 7.278 507 7.785 11.011.316 (162.380) 9J7,340 11.756,276 Restricted funds Spade in)me 16.883 5.194 {3.710) 18.367 Totsl offunds 23.740.258 989.206 1707.eN) 1.199,286 2&221.086 Paqe 34
Walthamstow and Chlngfonl Almshous¢ Charfty Notes to the fman¢ial slatwnents forthe yearended 31 March 2023 l& Summary offunds Balat)¢e at 31 March 2023 Balancè at 1 April 2022 Transfers Inlout Galnsl ILossesl InEurne Expenthtyre Designated funds General furts Endowment funds Restricted funds 159,369) 31Q198 1674102) 1316.1981 1190,9971 12.612.275 137,IK6} 900.000 .000 12666 11.756276 1161,2BI) 14,81 Iri3191 1a.222.676 19.652 6.100 24221Jl86 1.1]32.766 (89486n 1600,3821 24.754,603 Summary oftsnds. proorytar Balance at 31 March 2022 BalarA at 1 April 2021 Gainsl (Losses) out Designated funds Gpmerdl fvTh15 EndowmeTrt funds Restrided funds 11.812.059 (21,419) 511.S)S 1520.155) ($11, 244.498 1154 47,448 9CKI,(M)) 984,012 11.011.316 16.883 11K2.3 (3.710) 907,340 11,756.276 18.367 5.194 23.740.258 9B92c (107,664) 1.199286 25.221.086 19. Anal1$ of rt¥$8ets belv fvnds Analysis of netassets beiwaen fvnds. cwrentyear Total funds 2023 funds 2023 nds 2023 funds 2023 Tangible fixed assets Frxed asset oivestm InvÈstment propety Current assets CTedrtors wthin one 6.799,446 5.W,085 1,882,227 8,681.673 6,848,449 12.?8434 2.492,000 2A92.000 940.691 1144.2951 921.039 1144,295) 19.652 Total 13.511275 19.&52 11.222,676 24,754.603 Page 35
Walthamstow and Chingford Alm5hou8e Charity Note5 to the flnanclal slatements torthe year ended 31 Nlarch 2023 19. Analysis of nota55ets between funds IcoTrtinu¢dl Analysls of net assets bet*Ten lund5" prioryear UnresirKtèJ Restricled Endowment fund5 2022 Total 2022 2022 2022 Tangible fred assets FiKed asset Investmenl property Current assels CditOrS due e year 6.87809 035.675 1.946.944 8.825.453 7W.832 13.345.507 1499,5 2.499.500 634534 I&J,9081 616.167 (83,) 18.367 Total 13.44Q443 18.367 11,756,276 25.221,086 20. ReGonciliatlon of net movement rn funds to netcash flowfrom aperatlng activlues 2023 2022 Net TrrrAynelexpenthre tsr the {as w Statement of FinanLi Actiirilies) 1466A831 1.480.828 Adjustments for. De8(allon th8rg25 Lossesllgwnsl Irwestrner DwKkrhYs, tnterests and TltsfroM tywesb IlncreasÈyde(sease in debtors In¢reasel{decreasel In creditors Oncre8s8Vd8lX8ase N (xwrenl asset inveslments 143.780 143.778 378.856 {1,086,25n 1438.3801 {.109) 12.$451 2.738 60.387 13,3921 1320,03QI 634.201 Netcash provided bylused in) oper4ting actlvilles 1644,4151 761787 21. Analys1$ Of ¢a$h and $h equivalents 2023 Cash in hand 136,204 152.622 Page 33
Walthamstowand Chlngford Almshouse (ulty Notes to the finandal statsments frJrthe year ended 31 March 2023 Analy515 of changes In netdebt At1Ap 2022 Cash flows At 31 IAareh 2023 Cash at b8nk and bi haThY qutd investments 151622 418.779 116N181 320.030 136,204 738,809 571A01 303hI2 875,013 Pènsion COnlIMents The charity operat8s a d8firJ rAXrtrlt >uti(xJs WlOn scheme. The assets of the sd)eme are held separatety from those ol the dmirty Fi an indwend• administwed fund The pen510n C05t charge Tepresents ntritiM$ pardljle by the chaltty to Ihe fLfLd and arnted to £11,15212021" £10,125). No tributions were payatrAe to the fijnd at she8t date in J J C Moss. a Dtyector of the Tntstee Corrjpaw. ts an eleded of LB Waltham ForesL During the sfar the Carity re1 from LB Wattham Forest incL¥ne arnounting to £11 12021. £161. The Charity also made purchases from LB Wtham Forest of £Nfl 12(r22: £3,379). lft add0. debtors indude fiJrther £4.375 that wdl be recwdbje when the rntir on Cdby Lodge 15 paid 12022." £4.3751. Thè ¢haritywd5 a150 (hved £16 at )Ear end12022.. £16). V Conant lUstee durin9 the Jwr). is Ihe Te Rector of Sl Matys ch. At year end £NI w25 owed by St Maty5 (ch (2022. £20). S Keams. the husband of J Keams. 15 a &)ard Member of Christian b]tchen. In 2023 the Charity pald amounts totalling £&978 I2 £6.469). At the b3ian sheet dale 2mounts outstanding were £908 {2021- £1,97ei. H Tredoux r6 the CEO ofwahham Fest CommuWTrwrt Ltd and dLNing the year purthases of£N 022.. £3061 were rnade from this company. No bala remain wlstandtiig at year eThJ. The DI¢t( ¢oncungJ k) the abo transaclttins were not irmw in the decision makng rffoe*ss 25. Contmlllng party The Watthamstow and Aknshwse Trustee Company Limited. a company limTted by guardntee. is Ihe chariws Trustee and thereftxe cx)ntrtd5 the chawity. Tr wmpany dorrnant and has had any assets ot lia1&t. Th8 m8mbeFS and diredors of th¢ ¢c¥npany we as shown on page 1. Pèje 37