OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-31-accounts

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

J Crook D Griffin - Retired M Sankey - Retired P Nicol - Retired P Aves B Sanders C Andrewes P Shea-Simonds C Houghton – Appointed C Thomson – Appointed P J Doel – Appointed S Rabey - Appointed

Charity number 1154575 Principal address Long Barrow 2 The City Edington WESTBURY Wiltshire BA13 4QQ Independent examiner Morgan Tovey Limited 5 Martins Lane Keevil TROWBRIDGE Wiltshire BA14 6NB

2

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

CONTENTS

Page
Trustees' report 4 - 7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 - 25

3

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their report and financial statements for the year ended 31 December 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and “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)” (effective 1[st] January 2019).

Objectives and activities

The charity's objects are for the public benefit, namely:

(1) For the provision of Almshouses accommodation in the properties known as The Fowler Almshouses, Melksham, Wiltshire for the benefit of persons over 50 years of age who are in need or financial hardship and living in or near the districts of Melksham Town Council and Melksham Without Parish Council (the area of benefit).

(2) Such charitable purposes for the general benefit of the poor in the area of benefit; or which are beneficial to the inhabitants of the area of benefit as the Trustees decide.

The trustees have established the charity's grant making policy to achieve its objects for the public benefit. The trustees invite applications for grants from individuals and institutions by advertising in the local press.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The Charity has continued its consolidation period, post the successful refurbishment of the Almshouses and will be completing repayment of the Almshouses Association loan in January 2023. This has not impinged on it’s traditional role of an Almshouse charity.

The general maintenance and security of the Almshouses and the communal gardens were as usual given top priority and all the necessary checks were made. As in the previous year and due to the pandemic climate the monitoring of the residents wellbeing and welfare was given priority. The Charities still have 5 very satisfactory residents who can live responsibly and independently.

Grants totalling £2,656 (2020: £4,200) were given during the year.

The Trustees despite having had limited meetings due to the continuing government rules on meetings have been kept fully informed by its Secretary of all matters relating to its finances, the day to day running of the properties and the wellbeing of its residents.

The Trustees of the Melksham Almshouses are therefore pleased to confirm that it is fully succeeding in its charitable objectives and is still financially secure.

4

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

Financial review

Income for the year amounted to £32,957 (2020: £35,034). This is predominately made up of rental income, which was £25,786 (2020: £23,373) for the year. Charitable expenditure has decreased by £7,195 to £32,384 (2020: £39,579), including £2,656 (2020: £4,200) paid out in grants to, various institutions. Gains on investments for the year amounted to £33,232 (2020: £15,111). Included in the total net movement in funds, are endowment net incoming resources of £16,572 (2020: £7,460).

The net movement in funds for the year amounted to a surplus of £33,804 (2020: £5,932).

The charity's balance sheet as detailed on page 10 shows a satisfactory position with funds amounting to £536,758 (2020: £502,954).

Included in the charity's net assets of £536,758 (2020: £502,954) are fixed asset investments totalling £277,147 (2020: £248,915). All investments held by the charity have been acquired in accordance with the powers available to the trustees.

The Trustees' consider that the Charity is financially secure and its financial reserves are more than adequate to continue running and fulfilling the Charities objectives.

The Charity received a 10 year interest free loan of £84,000 from the Almshouses Association in 2013, which is being repaid on a six monthly cycle. The total amount outstanding as at 31 December 2021 amounted to £11,800 (2020: £20,200). The Trustees have considered the terms and conditions of the loan and do not believe the annual repayments will have a significant impact on the resources available for general application.

Reserves policy

The Trustees continue to be of the view, as recommended by the Charity Commission, that the Charity should maintain an appropriate level of free reserves (i.e. unrestricted funds not tied up in the charitable fixed assets). The Trustees have decided that the free reserves held should continue to equate to at least six months’ recurring overhead expenditure in order to ensure the continuity of operations in case of unforeseen events.

At 31 December 2021, the level of free reserves was £94,570 (2020: £79,460), equivalent to 35 months (2020: 24 months) of recurring expenditure.

The trustees are comfortable that the current level of free reserves are appropriate to the charity’s circumstances at present. Holding a higher level of reserves ensures that the charity can continue to maintain the Almshouses properties and pay out grants to successful applicants, both of which assist in achieving the charity’s objects. The trustees continue to review each year the level of free reserves.

The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

5

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

Plans for the future

The future plan for the Charity remains to the furtherance of the financial consolidation post the 2014 refurbishment project and will continue until the final payment of the Almshouses Association loan in 2023. Therefore whilst the charity continues to pay off the balance of the loan, no major plans are anticipated in the short term.

Structure, governance and management

The charity is registered with and regulated by the Charity Commission as a foundation Charitable Incorporated Organisation (CIO) under Charity no. 1154575, registered on 13 November 2013, governed by its Constitution dated 13 November 2013 as amended by special resolution 02 October 2018.

The trustees who served during the year and up to the date of signature of the financial statements were:

J Crook D Griffin – Retired 2021 M Sankey – Retired 2021 P Nicol – Retired 2021 P Aves B Sanders C Andrewes P Shea-Simonds C Houghton – Appointed 2021 C Thomson – Appointed 2021 P J Doel – Appointed 2021 S Rabey – Appointed 2021

As set out in the Constitution there must be a minimum of three and a maximum of nine charity trustees.

Ex Officio Trustee - The Vicar for the time being of the Ecclesiastical Parish of Melksham St. Michaels shall automatically be a charity trustee.

Nominated Trustees - Each of the following bodies may appoint charity trustees as follows: The Town Council of Melksham - two charity trustees Melksham Without Parish Council - two charity trustees

The CIO's day to day activities are managed by its Secretary Russell Lewis.

The following trustees jointly hold the title to the freehold property on behalf of the charity:

Mr J Crook Mr M Sankey Mrs P Nicol Ms P Aves

6

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees administer two charitable objectives for the benefit of the inhabitants of the parish of Melksham under the terms of its constitution.

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 (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and 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 incoming resources and application of resources of the charity for that year.

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. 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.

The trustees' report was approved by the Board of Trustees.

J Crook Trustee Dated: 23[rd] September 2022

P Aves Trustee

Dated: 23[rd] September 2022

7

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE MELKSHAM ALMSHOUSES CHARITIES

I report to the trustees on my examination of the financial statements of The Melksham Almshouses Charities (the charity) for the year ended 31 December 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

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

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no 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 financial statements to be reached.

Katy Tovey-Bowes ACA

Morgan Tovey Limited 5 Martins Lane, Keevil TROWBRIDGE Wiltshire BA14 6NB

Dated: 23[rd] September 2022

8

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted
Funds
2021
Note
£
Income from:
Donations and legacies
3
-
Charitable activities
4
25,786
Investments
5
3,322
_
Total income
29,108
_
Expenditure on:
Charitable activities
6
29,728
_
Net gains/(losses) on investments
11
16,660
_
Net movement in funds
16,040
Fund balances at 1 January 2021
376,703
___
Fund balances at 31 December 2021
392,743
____		 Restricted
Funds
2021
Endowment
Funds
2021
£
£
-
-
-
-
3,849
-
_
_
3,849
-
_
_
2,656
-
_
_
-
16,571
_
_
1,193
16,571
179
126,072
_
_
1,372
142,643
_
______		 Total
2021
£
-
25,786
7,171
_
32,957
_
32,384
_
33,231
_
33,804
502,954
_
536,758
_		 Total
2020
£
-
23,373
7,027
_
30,400
_
39,579
_
15,111
_
5,932
497,022
__
502,954
___

9

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

BALANCE SHEET

AS AT 31 DECEMBER 2021

Notes
£
Fixed assets
Tangible assets
12
Investments
13
Current assets
Debtors
14
1,166
Cash at bank and in hand
2,803
_
3,969
Creditors: amounts falling due within one year
16
(10,894)
_
Net current (liabilities)/assets
Total assets less current liabilities
Creditors: amounts falling due after more than
one year
17
Net assets
Capital funds
Endowment funds - general
19
Income funds
Restricted funds
20
Unrestricted funds
Designated funds
21
28,236
General unrestricted funds
21
364,506
___		 2021
£
£
269,936
277,147
_
547,083
1,580
2,901
_
4,481
(15,009)
______
(6,925)
_
540,158
(3,400)
_
536,758
_
142,644
1,372
21,056
355,647
_
392,742
___
536,758
__		 2020
£
276,367
248,915
_
525,282
(10,528)
_
514,754
(11,800)
___
502,954
_
126,072
179
376,703
_
502,954
__

The financial statements were approved by the Trustees on 23[rd] September 2022.

J Crook Trustee

P Aves

Trustee

10

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

Charity information

The Melksham Almshouses Charities is a Foundation Charitable Incorporated Organisation governed by its Constitution on 13 November 2013 as amended by special resolution on 02 October 2018. The charity was registered with the Charity Commission on 13 November 2013.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements 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 the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The Melksham Almshouses Charities constitutes a public benefit entity as defined by FRS 102.

1.2 Going concern

At the year end, the balance sheet shows the charity has net current liabilities. In light of the current coronavirus pandemic, the Trustees have reviewed likely future developments and remain of the opinion that there is no reason to believe that the charity will have to cease operating as a result of inadequate financial resources, or any other foreseeable event, within a period of at least 12 months from the date of the approval of these accounts.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes.

The purposes and uses of the designated funds are set out in the notes to the financial statements.

11

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies (Continued)

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Income is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts.

1.5 Expenditure

Expenditure is accounted for on an accruals basis and has been included under expenses categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All grants made are paid out of the New Hall Fund which is a restricted fund to be applied for public purposes beneficial to the inhabitants of the area of Melksham and Melksham without.

Support staff costs are allocated between the Almshouse Fund and the New Hall Fund so as to reflect the proportion of the Treasurer's time spent administering the Almshouses and the grants made to local organisations respectively.

Depreciation of the Almshouses is allocated to the Almshouse Fund.

Property costs and other overheads are incurred in the management and administration of the Almshouses and are therefore allocated exclusively to the Almshouse Fund.

12

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies (Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Refurbishment of Almshouses 2% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

The original value of the Almshouses, at the date they were received, is not available. The cost represents the major refurbishment which occurred during 2013.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

13

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies (Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings consist wholly of a public benefit concessionary loan. Public benefit concessionary loans are loans received between a public benefit entity and another party at below the prevailing market rate of interest and that are not repayable on demand and are for the purposes of furthering the objectives of the public benefit entity. The accounting treatment for concessionary loans is to initially measure these arrangements at the amount received or paid and recognise them in the statement of financial position. Subsequent years, the carrying amount of the concessionary loans in the financial statements shall be adjusted to reflect any accrued interest payable or receivable. The loan was made on an interest-free basis.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

14

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies (Continued)

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Leases

Rental received under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Estimated useful lives of tangible fixed assets

In determining the estimated useful life the charity considers the expected physical wear and tear of the asset that could lead to obsolescence of the asset. Each year the charity reviews the above to establish if there is any change in the expected useful life of tangible assets.

3 Donations and legacies

----- Start of picture text -----
2021 2020
£ £
Donations and gifts - -
_ _
----- End of picture text -----

15

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

4 Charitable Activities

2021
£
Almshouses rent receivable
25,786
_
Investments
Unrestricted
funds
Restricted
funds
Total 2021
£
£
£
Investment income – Almshouses Fund
3,322
-
3,322
Investment income – New Hall Fund
-
3,849
3,849
___
_
__
3,322
3,849
7,171
_
_
___
For the year ended 31 December 2020
2,648
4,379


 2020
£
23,373
_
Total
2020
£
2,648
4,379
_
7,027
_
7,027

5 Investments

16

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

6 Charitable activities

Almshouses
Fund
New Hall
Fund
£
£
Staff costs
9,500
1,000
Depreciation and impairment
6,431
-
Insurance
819
-
Telephone
89
-
Repairs and renewals
6,704
-
Subscriptions
226
-
Postage and stationery
464
-
Advertising
139
-
Water rates
871
-
Travelling expenses
753
-
Sundry expenses
252
-
Loan administration charge
400
-
_
_
26,648
1,000
Grant funding of activities (see note 7)
-
2,656
Share of support costs (see note 8)
960
960
Share of governance costs (see note 8)
80
80
_
_
27,688
4,696
_
_
Analysis by fund
Unrestricted funds
27,688
2,040
Restricted funds
-
2,656
_
_
27,688
4,696
_
_
For the year ended 31 December 2020
Unrestricted funds
32,939
2,440
Restricted funds
-
4,200
_
__
32,939
6,640

 Total
2021
Total
2020
£
£
10,500
10,500
6,431
6,431
819
769
89
179
6,704
11,616
226
222
464
224
139
203
871
835
753
1,076
252
44
400
400
_
_
27,648
32,499
2,656
4,200
1,920
2,040
160
840
_
_
32,384
39,579
_
_
29,728
35,379
2,656
4,200
_
_
32,384
39,579
_
_
35,379
4,200
_
_
39,579

17

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

7 Grants payable

2021
£
Grants to institutions:
Young Melksham
-
Riverside Community Hall
500
Melksham Foodbank
906
AFC Melksham
-
Phab
-
Bloom in Melksham
1,250
Kennet Furniture Refurbiz
-
_
2,656
 2020
£
3,000
-
500
250
350
-
100
_
4,200

8 Support costs

Support
costs		 Governance
costs		 2021 2020
£ £ £ £
Accountancy 1,920 - 1,920 2,040
Independent Examiner fees - 160 160 840
Meeting expenses - - - -
_ _ _ _
Analysed between charitable activities 1,920
_		 160
_		 2,080
_		 2,880
______

Governance costs includes payments to the independent examiner of £160 (2020: £840) for independent examination fees. Also paid to the independent examiner was £1,920 (2020: £2,040) in respect of accountancy services and bookkeeping.

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

18

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

10 Employees Number of employees

0 Employees
Number of employees
The average monthly number of employees during the year 2021 2020
was:
Number Number
1 1
__ __
Employment costs 2021 2020
£ £
Wages and salaries 10,500
__		 10,500
__

There were no employees whose annual remuneration was £60,000 or more.

11 Net gains/(losses) on investments

Unrestricted
funds 2021		 Unrestricted
funds 2021		 Endowment
funds 2021		 2021 Total 2020
Total
£ £ £ £
Revaluation of investments 16,593 16,572 33,165 15,111
Gain/(loss) on sale of
investments		 66 - 66 -
__ __ __ _
16,659 16,572 33,231 15,111
__ __ __ __
For the year ended 31
December 2020		 7,651
__		 7,460
__		 15,111
__

19

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

12 Tangible fixed assets

2 Tangible fixed assets
Refurbishment
of Almshouses
£
Cost
At 1 January 2021 321,552
____
At 31 December 2021 321,552
____
Depreciation and impairment
At 1 January 2021 45,185
Depreciation charged in the year 6,431
____
At 31 December 2021 51,616
____
Carrying amount
At 31 December 2021 269,936
____
At December 2020 276,367
____
3 Fixed asset investments
Listed
investments
£
Cost or valuation
At 1 January 2021 248,915
Valuation changes 28,232
___
At 31 December 2021 277,147
___
Carrying amount
At 31 December 2021 277.147
___
At 31 December 2020 248,915
___

13 Fixed asset investments

Fixed asset investments comprise of: CIOF Charities Ethical Investment Fund £277,147 (2020: £248,915).

20

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

14 Debtors
2021 2020
Amounts falling due within one year: £ £
Trade debtors 433 447
Prepayments and accrued income 733 1,133
______ ______
1,166 1,580
______ ______
15 Loans and overdrafts
2021 2020
£ £
Other Loans 11,800 20,200
__ __
Payable within one year 8,400 8,400
Payable after one year 3,400 11,800
__ __
11,800 20,200
__ __
16 Creditors: amounts falling due within one year
2021 2020
Notes £ £
Borrowings 8,400 8,400
Deferred income 18 412 618
Trade creditors 136 3,351
Accruals and deferred income 1,946 2,640
__ __
10,894
__		 15,009
__

17 Creditors: amounts falling due after more than one year

2021 2020
£ £
Borrowings 3,400
__		 11,800
_

21

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

18 Deferred income

----- Start of picture text -----
2021 2020
£ £
Other deferred income 412 618
_ _
----- End of picture text -----

19 Endowment funds

Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as restricted income.

Any capital gains or losses arising on the assets form part of the fund.

Balance at 1
January
2021		 Incoming
resources		 Resources
expended		 Revaluations
gains and
transfers		 Balance at
31
December
2021
£ £ £ £ £
Permanent
endowments New 126,072 - - 16,572 142,644
Hall Fund
___ ___ ___ ___ ___
126,072 - - 16,572 142,644
___ ___ ___ ___ ___
Prior year Balance at 1
January
2020		 Incoming
resources		 Resources
expended		 Revaluations
gains and
transfers		 Balance at
31
December
2020
£ £ £ £ £
Permanent
endowments New 118,612 - - 7,460 126,072
Hall Fund
___ ___ ___ ___ ___
118,612
___		 -
___		 -
___		 7,460
___		 126,072
___

The New Hall Fund investment is a permanent endowment. The capital cannot be spent. The income is restricted and can be used for public purposes beneficial to the inhabitants of the area of Melksham and Melksham Without.

22

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

20 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at 1 Incoming Resources Balance at 31
January 2021 resources expended December 2021
£ £ £ £
New Hall Fund 179 3,849 (2,656) 1,372
___ ___ ___ ___
Balance at 1 Incoming Incoming Balance at 31
Prior year January 2020 resources resources December 2020
£ £ £ £
New Hall Fund -
___		 4,379
___		 (4,200)
___		 179
___

New Hall Fund - Income from endowment investments. This income shall be applied for public purposes to benefit the inhabitants of the area of Melksham and Melksham Without.

23

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

21 Unrestricted funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Balance at
1 January
2021		 Incoming
resources		 Resources
expended		 Revaluations
gains and
transfers		 Balance at 31
December
2021
£ £ £ £ £
Designated New
Hall Fund		 21,056 - (2,040) 9,220 28,236
___ ___ ___ ___ ___
General funds 355,647 29,108 (27,688) 7,439 364,506
___ ___ ___ ___ ___
Total unrestricted
funds		 376,703 29,108 (29,728) 16,659 392,742
___ ___ ___ ___ ___
Prior year Balance at
1 January
2020		 Incoming
resources		 Resources
expended		 Revaluations
gains and
transfers		 Balance at 31
December
2020
£ £ £ £ £
Designated New
Hall Fund		 19,810 - (2,440) 3,686 21,056
___ ___ ___ ___ ___
General funds 358,600 26,021 (32,939) 3,965 355,647
___ ___ ___ ___ ___
Total unrestricted
funds		 378,410
___		 26,021
___		 (35,379)
___		 7,651
___		 376,703
___

New Hall Fund - Investment held which is designated for public purposes to benefit the inhabitants of the area of Melksham and Melksham Without.

24

Charity Registration No. 1154575

THE MELKSHAM ALMSHOUSES CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

22 Analysis of net assets between funds

Unrestricted
funds		 Restricted
funds		 Restricted
funds		 Endowment
funds		 Total
£ £ £ £
Fund balances at 31
December 2021 are
represented by:
Tangible assets 269,936 - - 269,936
Investments 133,131 1,372 142,644 277,147
Current assets/(liabilities) (6,925) - - (6,925)
Long term liabilities (3,400) - - (3,400)
___ ___ ___ ___
392,742 1,372 142,644 536,758
___ ___ ___ ___
Prior year Unrestricted
funds		 Restricted
funds		 Endowment
funds		 Total
£ £ £ £
Fund balances at 31
December 2020 are
represented by:
Tangible assets 276,367 - - 276,367
Investments 122,664 179 126,072 248,915
Current assets/(liabilities) (10,528) - - (10,528)
Long term liabilities (11,800) - - (11,800)
___ ___ ___ ___
376,703 179 126,702 502,954
___ ___ ___ ___

23 Related party transactions

There were no disclosable related party transactions during the year (2020 - none).

25