CHARITABLE INCORPORATED ORGANISATION REGISTERED CHARITY NUMBER: 1158167 WINNOCKS AND KENDALLS ALMSHOUSE CHARITY FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 MAY 2024
WINNOCK5 AND KENDALLS ALMSHOUSE CHARITY CONTENTS OF THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Page Report of the Trustees Rèport of the Independent Audltors Statement of Flnanclal Actlvltles Balance Sheet io Notes to the Flnanclal Statements li to 22 Detalled Statement of Flnanclal Actlvltles 23 to 24
WINNOCKS AND KENDALLS ALMSHOUSE CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2024 The Trustees present thelr report along with the financial statements of the charity for the year ended 31 May 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORPI "Accounting and Reportlng by Charltles" In preparln8 the annual report and financial statements of the charity. The flnanclal statements have been prepared In accordance wlth the accounting policles set out In note5 to the accounts on pages 11 to 13 and Comply with the charlty's governing document, the Charities Act 2011 and Accountln8 and Reportlng by Charitles.. Statement of Retommended PractSce appllcable to charities preparing thelr accounts In accordance wlth the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland publlshed In October 2019. OBJEcfivES AND AcnviTIES Objectlves and alms The oblect of the Charliy Is the provlslon of soclal houslng In the form of almshouse accommodatlon and assoclated amenltles for poor persons who shall be fesldent In Colchester at the tlme of their appointment. Appllcatlon of Income The net Income shall be applled flrst to repalr, Insure and meet all other outgolngs In respect of the Charlty's propertles and all proper costs of the Charlty's admlnlstratlon and mana8ement. Thereafter net Income shall be applled for the beneflt of the almspeople of the Charlty. Slgn5flcant actlvltles The Charlty alms to provlde almshouses to a Decent Homes Standard for Its beneflclal class. The Chailty currently provldes forty three almshouses and Its alm Is to U16$e these as far a5 posslble to meet the objectlves of the Charlty. Publlc beneflt These actlvitles are consldered to be for the publlc beneflt and In runnlng the Charlty the Trustees have regard for the Charlty Commlsslon guldance on publlc beneflt. ACHIEVEMENT AND PERFORMANCE Charltable actlvltles The Trustees continue to be concerned for the wellare of resldents and the malntenance of the hou51ng stock, The House Committee continued to vlslt resldents In thelr almshouses. Durlng the year the Charity suffered a major flood due to a mains water plpe burstlng. Thls damaged the Common Room and Its kitchen, the Warden's office and hallway. Our Insurance brokers, Grout Insurance appolnted a Clalms Mana8er to oversee the Insurance claim and all repalr works were completed by January 2024 and Included total replacement of the hall kitchen. There were refurb5shment5 undertaken at nlne almshouses wlth some requlrlng only redecoratlon btst others needing replacement kltchen5. The Trustee5 were dell8hted to be able to cooperate with Colchester Engagement and Next Step5 - a Nl8htshelter/Homeless Charlty - to house two of thelr clients. It Is hoped the Wlnnocks and Kendalls Almshouse Charlty can help more people who are homeless as vacancles allow. FINANCIAL REVIEW Flnanclal posltlon The Charlty's flnanclal posltlon Is as set out In the Balance Sheet on page 10 Jnd15 con51dered 5at15factory. Reserv@s pollcy The ChÈrlty's policy on reserves Is to malntaln sufflclent reserves to enable the Charlty to contlnue to achleve Its princlpal objectlves.
WINNOCKS AND KENDALLS ALMSHOUSE CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAY 2024 FUTURE PLANS The Trustees are mindful of the Charlty's loan with Charlty Bank and the increaslng Interest rates. The mortgage was renewed at an increased interest rate but fixed a2ain for a five year PEriod In May 2024. As properties become vacant, Trustees are commlsslonlng refurbishments to ensure the almshouses are of a hlgh standard when occupied. Works to replace wlndows at Kendalls Terrace were not progressed In 2023124 as planned due to budget con5tralnt5. However, Trustees comm15sloned major redecoration and repairs of woodwork to Kendalls Terrace to be undertaken Sn 2024. The Trustees have Increased the weekly malntenance contrlbutlons to allow for Investment5 In the Extraordlnary Rep3Ir Reserve and Cycllcal Malntenznce ReseNe. The weekly malntenanee contrlbtjtlons Iwmcl remaln at the Local Houslng Allowance ILHAI level to ensure It Is affordable to everyone, The Trustees were pleased to note the Sncrease In LHA from the 1st Aprll 2023 as many resldents had been paying the same level of wmc for some years. November 2024 all resident5 would have thelr wmc Increased ensurlng Increased Income to cover the Increaslng costs of malntenance of these Llsted buildlngs. The Trustee5 are looklng at the provlslon of the telephonelbroadband servlce In 1- 7B almshouses wlth a vlew to other optlons. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The Charlty Is governed In accordance with a constltutlon dated 19 June 2014 as amended by resolutlons of the trustees on 7 March 2016 and 25 July 2016. Recrultment and appolntment of new tNstees vacancSes for Trustees arlse appllcatlon5 are sought from potentlal candldates known to the Trustees and other sultable local people. Appllcants are then consldered by the Trustees and appolntments made by resolutlon of the Trustee5. Orianlsatlonal structure Day to day admlnlstratlon of the Charltyls carrled out by the Clerk vtho reports to the Trustees, The Trustee bodyls divSded Into sub-comrnlttees to deal with Finance of the Charlty, Fabrlc of the Charlty and House Iresldent matters) of the CharSty. These sub-committees meet as requlred between meetlngs of the full Trustee body. The Chalrman of the sub-commlttees report thelr dlscussions to the full Trustee meetln8S. Inductlon and tralnlng of new trustees New Trustees are brlefed by the Clerk and the exlstln8 Trustees on the hlstory and actlvltles of the Charlty. They are provlded wSth a copy of the Charity Commlsslon publlcatlon 'The E55entlal Trustee" detalllng thelr responslbllltles and provldlng guldance on being a Trustee. New Trustees are provided with a copy of the Charlty Scheme and the latest accounts. Related partles Durlng the year the charlty used the resources of a sollcltor In respect of Its houslng propertles. One of the trustees Is a partner of the entSty. There are no other charltles related to Winnocks and Kendalls Almshouse Charlty. The Clerk to the Charlty Is also Clerk to other almshouse charitles In Essex.
WINNOCKS AND KENDALIS ALM5HOU5E CHARITY REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 IVIAY 2024 srRucfuRE, GOVERNANCE AIID MANAGEMENT Rlskmanagement The trustees have a duty to identlfy and revlew the risks to which the charity is exposed and to ensure approprlate controls are in place to provlde reasonable assurance agaSn5t fraud and error. Through the employment of professional advlsors the Trustees seek to ensure that all of the Charlty's management and declsion maklng processes take full account of. and comply with, relevant leglslation and regulatory controls, Insurance Includlng property ownership and public Ilabllity is reassessed annually. REFERENCE AND ADMINISTRATIVE DETAILS Reg15tered Charity number 1158167 Prlnclpal address 18 Newbridge Hill West Bergholt Colche5ter E$5ex C06 3ER Trustees J Enfield Chalrman Mrs WAllen Mr5 S Leng J Bradley Vlce Chalrman Mrs P 5harman Ms A Danlell CAndrews B Taylor A Ellls {appolnted 2181241 Audltors Halnes Watts Statutory Audltors Town Wall Hguse Balkerne Hlll Colchester Essex C03 3AD Sollcltors Messrs John Fowlers LLP Town Hall Chambers st Runwald Street Colchester Essex COI IDS
WINNOCKS AND KENDALLS ALMSHOUSE CHARITY REPORT OF THE TRUSTEES FOR ThE YEAR ENDED 31 MAY2024 REFERENCE AND ADMINISTRATIVE DETAILS Banker5 Barclays Bank PIC 9 Hlgh Street Colche5ter Essex COI IDA CAF Bank Ltd 25 Klngs Hlll Avenue West MalllnB Kent ME19 4JQ Cletk to the Charlty Mrs Clare Heyes 18 Newbridge Hlll West Bergholt Essex C06 3ER Consultant Surveyors Messrs Danlel Connal Partnershlp 780 The Crescent Colchester Buslness Park Colchester C04 9YQ Consultant Archltects Purcells St Mary's Hall Rawstorn Road Colchester Essex C033JH TRUSTEES, RESPONSIBILITY STATEMENT The trustees are responslble for preparlng the Report of the Trustees and the flnanclal statements In accordance wlth appllcable law and Unlted Klngdom Accountln8 Standards IUDlted Kin8dom Generally Accepted Accountlng Practlce). The law appllcable to charltles In England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulatlons 2008 and the provlslons of the trust deed requlres the trustees to prepare flnanclal statements for each flnanclal year whlch glve a true and fair view of the state of affalrs of the charlty and of the Incomlng resources and appllcatlon of resources, Inclvdlng the Income and expenditure, of the charlty for that perlod. In preparlng those fSnanclal statements, the trustees are requlred to select sultable accountlng pollcies and then apply them conslstently; observe the methods and prlnclples In the Charity SORP; make Judgements and estlmate5 that are reasonable and prudent; prepare the financlal statements on the 8oln8 concern basls unless It Is Inapproprlate to presume that the charlty wlll contlnue In buslness.
WINNOCKS AND KENDALLS ALMSHOUSE CHARITY REPORT OF TYE TRUSTEES FOR THE YEAR ENDED 31 MAY 2024 TRUSTEES, RESPONSIBILITY STATEMENT- contlNed The trustees are responslble for keeplng proper accounting records whtch dlsc105e with reasonable ac¢uracy at any tSme the flnanclal posltlon of the charity and to enable them to ensLÈre that the financial statements comply wlth the Charltles Act 2011. the Charlty (Accounts and Reports) Regulations 2008 and the provlslons of the trust deed. They are also responsible for safeguarding the assets of the charlty and hence for taklng reasonable steps for the preventlon and detectlon of fraud and other Irreg4Jlarltles. Il l•L4 Approved by order of the board of twstees on .................................-... .. and slgned on Its behalf by..
REPORT OFTHE INDEPENDENT AUDITORSTOTHE TRUSTEES OF WINNOCKS AND KENDALLS ALMSHOUSE CHARITY Oplnlon We have audlted the financial statements of W5nnocks and Kendalls Almshouse Charity (the 'charity'} for the year ended 31 May 2024 which comprlse the Statement of Financial Activities, the Balance Sheet and notes to the flnanclal statements, Including a Summary of significant accounting policies. The financial reporting framework that has been applied In their preparation is applicable law and United Kingdom Accounting Standards Iunlted Kln8dom Generally Accepted Accountln8 Practice). In our oplnlon the financial statements.. glve a true and falr vlew of the state of the charity's affairs as at 31 May 2024 and of Its Incomlng resources and applicatlpn of resources, for the year then ended,. have been properly prepared In accordance wlth Unlted Kingdom Generally Accepted Ac¢ountlng Practlce; and have been prepared In accordance with the requlrements of the Charltles Att 2011. Basls for oplnlon We ¢ondurted our audlt In accordance wlth Internatlonal Standards on Audltlng (UK) IISAS IUKII and appllcable law. Our responslbllltSes under those standards are further descrlbed In the Auditors, responslbllltles for the audit of the flnanclal statements sectlon of our report. We are Independent of the charlty In atcordance wlth the ethical requlrements that are relevant to our audit of the financlal statements In the UK. Sncludlng the FRC'S Ethlcal Standard, and we have fulfllled our other ethlcal responslbllltles In accordance wlth these requlrements. We belleve that the audlt evldence we have obtalned Is sufflclent and approprlate to prode a basls for our oplnlon. Concluslons relatlng to 8oln8 concern In audltln8 the flnanclal statements, we have concluded that the trustees, use of the 8olng concern basls of accountln8 In the preparatlon of the financlal statements Is approprSate. Based on the work we have performed, we have not Identifled any materlal uncertalntles relatln8 to events or condltlons that, Indlvldually or collectlvelyi may cast slgnlflcant doubt on the charlty's ablllty to contlnue as a golng concern for a perlod of at least twelve months from when the flnanclal statements are authorlsed for Issue. Our re5ponslbllltles and the responslbllitles of the trustees wlth respect to 8olng concern are descrlbed Sn the relevant sectlons of thls report. other Informatlon The trustees are responslble for the other Informatlon. The other Informatlon comprlses the Snformatlon Included In the Annual Report, other than the flnanclal statements and our Report of the Independent Audltor5 thereon. Our oplnlon on the financlal statements does not cover the other Informatlon and, except to the extent otherwlse expllcitly stated in our report, we do not express any form of assurance concluslon thereon. In connectlon with our audlt of the flnanclal statements, our responsibility Is to read the other Informatlon and, In dolng 50, conslder whether the other Information Is materially incon5iStent with the flnancial statements or our knowledge obtalned In the audlt or otherwlse appears to be materially misstated. If we Identlfy such materlal Incon515tencles or apparent materlal mlsstatements, we are requlred to determlne whether thls glves rlse to a materlal mlsstatement In the flnanclal statements themselves. If, based on the work we have performed, we conclude that there Is a material mlsstatement of thls other informatlon, we are required to report that fact. We have nothing to report In thls re8ard. Matters on whlch vie are requlred to report by exceptlon We have nothing to report In respect of the followlng matters where the Charltles (Accounts and Reports) Regulatlons 2008 requlres us to report to you If, In our oplnlon,. the Informatlon glven In the Report of the Trustees Is Inconslstent In any materlal respect wlth the financlal statement5: or sufficlent accountlng records have not been kept; or the flnanclal statements are not In agreement wlth the accountlng records and returns. or we have not recelved all the Infomiatlon and explanatlons we requlre for our audlt.
REPORT OFTHE INDEPENDENT AUDITORSTO THETRUSTEES OF WINNOCKS AMD KENDALiS ALMSHOUSE CHARITY Responslbllltles of trustees As explained more fully In the Trustees, Responslbilitles Statement, the trustees are responslble for the preparatlon of the financial statements whlch glve a true and falr view, and for such Internal control as the trustees determine Is necessary to enable the preparatlon of financial statements that are free from materlal mlsstatement, whether due to fraud or error. In preparlng the flnanclal statements, the trustees are responslble for assesslng the charlty's ablllty to continue as a 80ing concern. dlscloslng, as applicable, matters related to going concern and uslng the 8oin8 concern basls of accounting unless the trustees elther Intend to Ilquidate the charlty or to cease operations, or have no reallstlc alternative but to do so. Our responslbllltles fo¥ the audlt of the flnanclal statements We have been appolnted as auditors under Sectlon 144 of the Charitles Art 2011 and report In accordance wlth the Act and relevant regulatlons made or having effect thereunder. Our oblectlves are to obtaln reasonable assurance about whether the financlal statements as a whole are free from materlal mi5Statement, whether due to fraud or error, and to Issue a Report of the Independent Audltors that Includes our opinlon, Reasonable assurance Is è high level of assurance, but Is not a guarantee that an audlt conducted In accordance wlth ISAS IUKI wlll always detect a materlal misstatement when St exlsts, Mlsstatements can arlse from fraud or error and are consSdered materlal if, Indlvidually or In the aggregate, they could reasonably be expected to Influence the economlc decislon5 of users taken on the basls of these flnanclal statements. The extent to whlch our procedures are capable of detectlng Irregularltles, Includlng fraud Is detalled below,. We obtalned an understandlng of the legal and regulatory framework appllcable to both the charlty Itself and the sector Sn whlch It operates. We IdentlfSed areas of laws and regulatlons that could reasonably be expected to have mateflal effect on the flnanclal statements from our sector experlence and through dlscus51on wlth the trustees and management, The most slgnlflcant were Identlfled as the Charltle5 Act 2011 and UK GAAP Includlng the Charlty SORP IFRS 1021. We consldered the extent of compllance wlth those laws and regulatlons as part of our procedures on the related flnanclal statements. Our audit procedures Included,. We consldered the rlsk of fraud throu8h mana8ement overrlde and In response, we Sncorporated testlng of manual journal entrles Into our audlt approach throughout the flnanclal year. We also consldered the rlsk of fraud through assumptlons and lud8ements used withln accountlng estlmates and In response, reviewed and scrutlnlsed these estlmates In order to detect posslble management blas. We also consldered the rlsk of fraud assoclated wlth the preparatlon of the flnanclal statements and In response, tested the disclosures prepared a83lnst relevant supporting documentation. Our audlt did not Identify any sl8nlflcant matters relatlng to the detectlon of irregul3rltles Includln8 fraud. However, desplte the audit belng planned and conducted In accordance with ISAS IUK) there remalns an unavoidable rlsk that material m155tatements In the flnanclal statement5 may not be detected owing to Inherent1Smltatlons of the audlt, and that by thelr very nature, any such Instances of fraud or IrreEularlty Ilkely involve colluslon, for8ery, Intentlonal mlsrepresentatlons, or the overrlde of Internal controls. A further descrlptlon of our responslbllltles for the audit of the financlal statements Is located on the Flnanclal Reportlng Councll's webslte 8t vrniw.frc.or8.uklaudltorsresponsibilities. Thls description forms part of our Report of the Independent Audltors.
REPORT OF THE INDEPENDENT AUDITOR5 TO THE TRUSTEES OF WINNOCKS AND KENDALiS ALMSHOUSE CHARITY Use of our report Thls report Is made solely to the charity's trustees, as a body, in accordance wlth Port 4 of the Charltles (Accounts and Reports) Regulatlon5 2008. Our audit work has been undertaken so that we might state to the charlty's trustees those matters we are requlred to state to them In an auditors, report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responsibility to anyone other than the charlty and the charity's trustees as a body, for our audlt work, for this report, or for the opinions we have formed. Halnes Watts Statutory Audltors Town Wall House Balkerne Hlll Colchester Essex C03 3AD Date.,
WINNOCKS AND KENDALIS ALMSHOUSE CHARITY STATEMENT OF FINANCIAL AcnviTIES FOR THE YEAR ENDED 31 MAY 2024 2024 Total funds 2023 Total funds Unrestritted funds Restrlcted funds Endowment funds Note5 INCOMEAND ENDOWMENTS FROM Charltable actlvltle5 Almshouse actlvlty 276,417 276,417 269,314 Investment Income 8A14 8,414 5,507 Total 284,831 284,831 274,821 EXPENDITURE ON Ch?rltable actfvltles Almshouse actlvltv 266,488 266,488 268,186 18343 18,343 6,635 Net Ealnslllossesl on Investments 11,198 1,6091 NETINCOME 29,541 29,541 5,026 Transfeis between funds 18 120,726) 20,726 Other reco8nlsed 8alns/llossesl Galns on revaluatlon of flxed assets 151,411 151,411 1,154,275 Net movement In funds 8,815 172.137 180,952 1,159,301 RECONCILIATION OF FUNDS Total funds brought forward 344.340 830,942 6.178,360 7,353,642 6,194,341 TOTAL FUNDS CARRIED FORWARD 353,155 830,942 6,350.497 7,S34,594 7,353,642 CONTINUING OPERATIONS All Income and expendlture has arlsen from contlnulng activltles. The notes form part of these financlal statements
WINNOCK5 AND KENDALLS ALMSHOUSE CHARITY BAIANCE SHÉÉT 31 MAY 2024 2024 Total funds 2023 Total funds Unrestrfcted funds Restrlcted funds Endowment funds Notes FIXED ASSETS Tanglble assets Investments li 12 830,942 7,090,945 7,921,887 133,717 7,770,476 122,519 133,717 133,717 830,942 7,090,945 8,055,604 7,892,995 CURRENT ASSETS Debtors Cash at bank 13 18,165 231076 18,165 231,076 11,702 238,668 249,241 249,241 250,370 CREDITOR5 Amounts falllng due wlthin one year 14 129,803) (17,6381 147,441) 149,2751 NET CURRENT ASSETS 219,438 117,6381 201,800 201,095 TOTAL ASSETS LESS CURRENT LIABILITIES 353.155 830,942 7,073A07 8,257,404 8,094,090 CREDITORS Amounts falllng due after more than one year 15 (722,810> 1722,8101 1740,4481 NET ASSETS 353,ISS 830,942 6,350,497 7,534,594 7.353,642 FUNDS Unrestrlcted funds Restrlcted funds Endowment funds 18 353,155 830,942 6,3SO,497 344,340 830,942 6,178,360 TOTAL FUNDS 7,534,594 7,353,642 The flnanclal statements were approved by the Board of Trustees and authorlsed for Issue on !II%oLfj %•.1.,g.,............ and were slgned on Its behalf by: radley-Trustee The note5 form part of these flnanclal statements -io-
WINNOCKS AND KENDALLS ALMSHOUSE CHARITY NOTtS TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 LEGISLATIVE PROVISIONS The Charity15 reglstered wlth the Charlty Commlsslon as a Charitable Incorporated Or8anisatlon, the Re8ulator of Social Hou51ng as a Reglstered Provider of Sotlal Housln8 and with the National Association of Almshouses as a Registered Almshouse Charlty. ACCOUNTING POIICIES Ba51s of preparlng the flnanclal statements The flnanclal statements of the charlty, whlch Is a public benefit entity under FRS 102, have been prepared In accordance with the Charitles SORP (FRS 1021 'Accountlng and Reportlng by Charitles: Statement of Recommended Practlce appllcable to charltles prepèrin8 thelr accounts In accordance with the Flnantlal Reportlng standard appllcable In the UK and Republic of Ireland {FRS 1021 leffectlve l January 20191,. Flnanclal Reportlng Standard 102 'The Flnanclal Reportlne Standard appllcable In the UK and Republic of Ireland, and the Charitles Act 2011. The flnanclal statements have been prepared under the hlstorltal cost conventlon. wlth the exceptlon that houslng propertles are Included at valuatlon and Investment5 whlch are Included at market value. For the purposes of presentatFon the flnanclal statements are rounded to the nearest pound sterllng 1£) and are Incluslve of Value Added Tax. WhSlst thls charlty Is a Reglstered Soclal Houslng Provlder followlng the Issue of new SORPS for both charltles and Reglstered Provlders appllcable for accounting period5 commenclng on or after l January 2015, these accounts are prepared In accordance wlth the appllcable Charlty SORP slnce Its prlnclpal actlvltles are not govemed by the Landlord and Tenants Act 1985 and are for charltable purposes. Fund accountlng RestrScted funds are fund5 recelved by the Charlty for a speclflc purpose and can only be used for that purpose. Unrestrlcted funds are avallable to spend on actlvltSes that further any of the purp05e5 of Charlty. Deslgnated funds are unrestrlcted funds of the charlty whlch the trustees have declded at thelr dlscretlon to set aslde to use for a speclflc purpose. Endowment funds are non-expendable funds whlch are normally held Indefinltelv. Golng Concern The accounts are prepared on a 8oln8 concern basls as there are no materlal uncertalntles about the Charity's ablllty to contlnue. Income All Income Is recognlsed In the Statement of Finon¢lal Actlvltles once the charlty has entltlement to the funds, It is probable that the Income wlll be recelved and the amount can be measured rellably. Income from government and other grants, whether 'capltal' grants or 'revenue' grants, Is reco8nised when the Charlty has entltlement to the funds, any performance condltlon5 attached to the grants have been met, It Is probable that the Income will be received and the amount can be measured reliably and Is not deferred. If the Charity d15pose5 of affordable houslng acqulred pursuant to the scheme durlng the grant perlod otherw15e In accordance wSth the terms of the agreement, the amount of the 8rant recelved wlll be repayable In full back tothegovernment. For le83cles, entStlement Is taken as the earller of the date on whlch elther: the Charityls aware that probate h05 been granted, the estate has been finalised and notificatlon has been made by the executorlsl to the Charlty that a dlstrlbution wlll be made, or when a dlstrlbutlon is received from the estate, -li-
INNQCKS AND KENDALLS ALMSHOUSE CHARITY NOTES TO ThE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MAY 2024 ACCOUNTING POLICIES- contlnued Income Donatlons and other voluntary Income are reflected In the accounts for the perlod In whlch they are received. Donatlons In kind are recogn15ed by the Charlty when received except In the case of Services provlded free or undervalue by voluntary staff or others whlch are not reflected In the accounts. Interest Recelvable Interest on funds held on deposit Is Included when recelvable and the amount can be measured rellably by the Charlty; thls Is normally upon notlflcatlon of the Interest pald or payable by the Bank. Expendlture Llabllltles are recognlsed as expendlture as soon as there Is a legal or constructlve obllgatlon tommlttlng the charlty to that expenditure, It Is probable that a transfer of economlc benefits wlll be requSred Sn settlement and the amount of the obllgètlon can be measured reliably. Expendlture Is accounted for on an accruals basls and has been classified under headlngs that aggregate all cost related to the category. Where costs cannot be dlrectly attrlbuted to partlcular headings they have been allocated to actlvltles on a basis conslstent wlth the use of resources. Repalrs and Malntenance The charges in the Statement of Flnanclal Actlvltles In respect of Cycllcal Malntenance and Extraordinary Repalrs reflect the Trustees, constant concern to keep the propertles In good condltlon, and are In accordance with the Almshouse Assoclatlons, recommendatlon that Almshouse Charltles should set aslde each year speclflc sums In thls respect. Transfers are made from the Revenue Reserve each year to the Extraordlnary Repalr Reserve to cover extraordlnary repalrs as they arlse and to the Cycllcal Malntenance Reserve to cover repalrs whlch arlse on a cyclScal ba$ls. Support Costs The Chaflty'5 governance costs are allocated entlrely to the Almshouse Costs slnce support Costs relatln8 to other actlvltle5 are consldered Immaterlal. Tanglble flxod Issets Houslng Propeitles The hou51ng propertles are Included in the accounts at thelr Insurance relnstatement value. Additlons after ebch revaluatlon are Included at cost untll a further revaluatlon. The houslng propertles are not depreclated as revaluatlons are performed wlth sufflclent re8ularlty to ensure that the carrylng amounts are not materlally mlsstated. The cost of refurblshment and Improvements to the ex15tlng property are wrltten off to the Revenue Reserve as Incurred. Any major Improvements or extenslons to the property are capltalised. Investments Investments are shown on the Balance Sheet at thelr market valu& Changes In market value durln8 an accountlng perlod are reflected In the accounts as unreallsed galns and losses, Upon dlsposal of an Snvestment the dlfference between the origSnal cost and disposal proceeds is reflected in the account5 a5 a reallsed galn or10s5 and an adjustment Is made to unreallsed gains or losses to reverse unreallsed movements Sn value In earller years. Debtors Contributlons and other debtors are recognlsed at the settlement amount due. Prepayments are valued at the amount prepald net of any trade discounts due. -12-
WINNOCKS AND KENDALLS ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MAY 2024 ACCOUNTING POLICIES- contlnued Cash at Bank and In Hand Cash at bank and cash In hand Includes cash and short term highly Ilquid investments with a short maturlty of three month5 or less from the date of acqulsltlon or openin8 of the deposit or slmllar account, Credllors and Provlslons Creditor5 and provlslons are recognlsed where the Charity ha5 a present obllgatlon resultlng from a past event that wlll probably result In the transfer of funds to a thlrd party and the amount due to settle the obllgatlon can be measured or estimated rellably. Creditor5 and provlsions are normally recogni5ed at their settlement amount after allowlng for any trade dlscounts due. Flnanclal Inslruments The Charlty only has flnancial assets and financial Ilablllties of a klnd that quallfy a5 baslc flnantlal Instruments. Basic flnanclal Instruments are Initlally recognised at transactlon value and 5ub5equently measured at thelr settlement value. Taxatlon The Charlty Is exempt from tax on Its charltable actlv5tles. INVESTMENT INCOME 2024 2023 Dlvldends recelvable Interest recelvable 1,154 7,260 1,009 4,498 8,414 5,507 INCOME FROM CHARITABLE ACTIVITIES 2024 Almshouse actlvlty 2023 Total actlvltles Contrlbutions recelvable Losses from volds 277,220 112,7241 262,165 (5,4871 264,496 9,693 2,228 256,678 10,356 2,280 Gas contributlon5 recelvable Water contributlDns receivable 276,417 269,314 -13-
WINNOCKS AND KENDALLS ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MAY 2024 CHARITABLE AcfiviTIES COSTS Direct Costs (see note 61 Support Costs (see note 71 Totals Almshouse activlty 221,796 44,692 266,488 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff costs Vacant property costs Water char8e5 Insurance Ught and heat Repalrs and malntenance Cycllcal malntenance Extraordinary repalrs G3rdenlng Carellne Cleaner Telephone Sundry expenses Houslng loan Interest 2,400 392 2,850 4,948 15,911 35,463 30,804 67,965 12,718 4,517 1,751 2,988 1,031 38,058 2,400 157 4,147 4,237 17,078 42,682 30,214 62,371 12,042 5,026 838 2,656 2,018 39,103 221,796 224,969 SUPPORT COSTS Governance costs Management Flnance Totals Almshouse activlty 34,326 286 10,080 44,692 -14-
WINNOCKS AND KENDALLS ALMSHOUSE CHARITY NOTES TO TPIE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MAY 2024 SUPPORT COSTS- continued Support Costs, included in the above, are as follows.. 2024 Almshouse actlvity 2023 Total activltles staff costs Clerks fees Professlonal fees Subscriptlons Bank charges Auditors, remuneratlon Audltors, remuneration for non audlt work 2,400 25,800 5,544 582 286 6,870 3,210 2,400 25,800 4,680 413 324 6,540 3,060 44,692 43,217 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneratlon or other beneflts for the year ended 31 May 2024 nor for the year ended 31 May 2023. Trustees, expenses There were no trustees, expenses paldfor theyear ended 31 May 2024 nor forthe year ended 31 May 2023. STAFF COSTS 2024 2023 Wages and salarles 4,800 4,800 4,800 4,800 The wages and salarles are In respect of the waTden, the cost of whlch Is allocated equally between the dlrect costs of charltable artlvlties and mana8ement costs. The average monthly number of employees durlng the year was as follows: 2024 2023 Warden No employees recelved emoluments In excess of £60.0(X).
WINNOCKS AND KENDALLS ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MAY 2024 io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivmES Unrestrirted funds Restricted fund5 Endowment funds Total funds INCOME AND ENDOWMENTS FROM Charltable actlvities Almshouse activity 269,314 269,314 Investment Income 5,507 5,507 Total 274,821 274,821 EXPENDITURE ON Charltable actlvltle5 Almshouse activlty 268,186 268,186 6,635 6,635 Net 8alnsll1055e5) on investments 11,6091 {1,6091 NET INCOME 5,026 5,026 Transfers between fvnds 119,903) 19,903 Other recogn15ed 8alns/llossesl Galns on revaluatlon of fixed assets 1,154,275 1,154,275 Net movement In funds {14,8771 1,174,178 1,159,301 RECONCILIATION OF FUNOS Total funds brouBht forward 359,217 830,942 5,004,182 6,194,341 TOTAL FUNDS CARRIED FORWARD 344,340 830,942 6,178,360 7,353,642 -16-
WINNOCKS AND KENDALLS ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MAY 2024 ii. TANGIBLE FIXED ASSErs Housin8 properties Land Totals COST OR VALUATION At ljune 2023 Revaluations 200,000 7,570.476 151.411 7,770,476 151,411 At 31 May 2024 200,000 7,721,887 7,921,887 NET BOOK VALUE At 31 May 2024 200,000 7,721.887 7,921,887 At 31 May 2023 200,000 7,570,476 7,770,476 Cost or valuatlon at 31 May 2024 Is represented by: Housln8 propertles Land Tolals Accumulated revaluatlon 8ains C05t 200,000 3,929,771 3,792,116 4,129,771 3,792,116 200,000 7,721,887 7,921,887 The land Is carrled at the Trustees valuatlon of E200.000 as at 31 May 2019. The houslng propertles were revalued durln8 the year ended 31 May 2024 at thelr Insurance reln5tatement value as at 30 June 2024 of £7,721,887. 12. FIXED ASSEf INVESTMENTS Usted Investments MARKET VALUE At l June 2023 Revaluatlons 122,519 11,198 At 31 May 2024 133,717 NETBOOKVALUE At 31 May 2024 133,717 At 31 May 2023 122,519 There were no Investment a55ets outslde the UK. -17-
WINNOCKS AND KENDAILS ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MAY 2024 12. FIXED A5SEf INVESTMENTS- contlnued Cost or valuatlon at 31 May 20241s represented by, Llstèd Investments Actumulated revaluatlon gains Cost 29,493 104,224 133,717 13. DEBTORS: AMOUNTS FAiIING DUE WITHIN ONE YEAR 2024 2023 Contrlbutlons In arrears Other debtors Prepayments and accrued Incijme 15,366 106 2,693 8,974 229 2,499 18,165 11,702 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans (see note 16) Contrlbutlons recelved In advance Other credltors Accruals and deferred Income 17,637 10,628 4,168 15,008 20,726 10,327 3,984 14,238 47,441 49,275 15. CREDITORS: AMOUNTS FALUNG DUE AFTER MORE THAN ONE YEAR 2024 2023 Bank loanslsee note 16) 722,810 740,448 -18-
WINNOCKS AND KENDALLS ALIVISHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED31 MAY 2024 15. CREDITORS: AMOUNTS FALLING DUE AER MORE THAN ONE YEAR 2024 2023 Bank loans Isee note 161 722,810 740.448 16. LOANS An analy51s of the maturity of k)ans Is 8lven below: 2024 2023 Amounts falllng due wlthln one year on demand: Houslng Loan 17,637 20,726 Amounts falling between one and two years: Houslng loan 1-2 Years 18,772 22,110 Amounts fallln8 due between two and five years.. Houslng Loan 2-5 Years 64,811 72,996 Amounts falllng due in more than flve years: Repayable by Instalments: Houslng Loan more than S Years 639,227 645,342 17. SECURED DEBTS The followlng secured debts are Included wlthln credStors: 2024 2023 Bank loans 740,447 761,174 The houslng loan Is secured by a legal char8e on the land and bulldlngs at 1 7 Wlnnocks and 23, 23a and 23b Mllltary Road, also kn¢)wn as George Rose House. -19-
WINNOCKS AND KENDALLS ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MAY 2024 18. MOVEMENTIN FUNDS Net movement In funds Transfers between funds At 31.5.24 At 1.6.23 Unrestrlcted fund5 Cycllcal Maintenance Reserve Extraordinary Repair Reserve Revenue Reserve 41,788 78,591 223,961 130,804) 162,232) 122,577 40,436 26,222 187.384) 51,420 42,581 259,154 344.340 29,541 (20,726) 353,155 Restrlrted funds Soclal Housing Grant Fund Colchester BC Grant Fund 1- 7 Wlnnocks Colchester BC Grant Fund 378.777 2,759 449806 378,777 2,759 449,406 830,942 830.942 Endowment funds Charltable Fund Property Reserve Houslng Propertles Revaluation Reserve 2,200,000 3,978,360 20,726 2,220,726 4,129,771 151hll 6,178,360 151,411 20,726 6,350.497 TOTAL FUNDS 7.353,642 180,952 7,534,594 Net movement In funds, Included In the above are as follows: Incomlng resources Resources expended Galns and 105ses Movement In funds Unrestrlcted funds Cycllcal Malntenance Reserve Extraordinary Repalr Reserve Revenue Reserve 130,8041 167,965 167,7191 130,804) 162,232) 122,577 5,733 5,465 284,831 284,831 1266,488) 11,198 29,541 Endowment funds Houslng Propertles Revaluatlon ReseThe 151,411 151,411 TOTAL FUNDS 284,831 1266,488) 162,609 130,952 -20-
WINNOCKS AND KENDALLS ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MAY 2024 18. MOVEMENT IN FUNDS- tontlnued Comparatlves for movement In ndS Net movement in funds Transfers between funds At 31.5.23 At 1.6.22 Unrestrlcted funds Cycllcal Malntenance Reserve Extraordinary Repair Reserve Revenue Reserve 139,717 14,653 204.847 134,0951 {59,5071 98,628 163,S34) 123,445 179,514) 41,788 78,591 223,961 359,217 5,026 119,9031 344.340 Restrlrted funds Soclal Houslng Grant Fund Colchester BC Grant Fund 1- 7 Wlnnocks Colchester BC Grant Fund 378,777 2,759 449,406 378,777 2,759 449,406 830,942 830,942 Endowment funds Charltable Fund Property Reserve Houslng Propertles Revaluatlon Reserrfe 2,180,097 2,824,085 19,903 2,200,000 3,978,360 1,154,275 5.004,182 1,154,275 19,903 6,178,360 YOTAL FUNDS 6,194,341 1,159.301 7,353,642 Comparatlve net movement In funds, Included In the above are as follows: Incomln8 resources Resources expended Galns and losses Movement In funds Uniestrlcted funds Cyclical Malntenonce Reserve Extraordlnary Repalr Reserve Revenue Reserve 130,2141 {62,371) 1175.6011 13,8811 2,864 5921 134,0951 159,5071 98,628 274,821 274,821 1268,1861 {1,6091 5,026 Endowment funds Houslng Propertles Revaluation Reserve 1,154,275 1,154,275 TOTAL FUNDS 274,821 1268,186) 1,152,666 1,159,301 -21-
WINNOCKS AND KENDALLS ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MAY 2024 18. MOVEMENT IN FUNDS- contlnued Charltable Fund Property Reserve Thls Reserve Is part of the permanent endowment of the Charity and represents the cost of propertles financed by the Charlty's own resources, thls being the cost of housing propertles net of capltal out5tandlng on the loan from The Charlty Bank. HouslnE Propertles Revaluatlon Reserve Thls Reserve Is part of the permanent endowment of the Charlty and represents the surplus on revaluatlon of the houslng properties. Soclal Houslng Grant Fund The Sotlal HouslnE Grant Fund Is a restrlcted fund and represents grants recelved from the Houslng Corporation of £378,777 in connectlon wlth the houslng property Improvements. The charity would be requlred to repay the grant In full If the housSn8 propertles for whlch these grants were awarded are subsequently sold. Colchester BC Grant Fund The Colchester BC Grant Fund Is a restrlcted fund and represents a grant recelved from Colche5ter Borough Councll of £2,759 durln8 the year ended 31 May 1999 In connection wlth the bathroom Improvements at 10 Wlnnocks. 1-7 Wlnnocks Colchester 8C Grant Fund The 1-7 Wlnnocks Colchester BC Grant Fund 55 a restrlcted fund and represents grants recelved from Colchester Borough Councll of £449,406 during the years ended 31 May 2019 and 31 May 2020 Sn connectlon wlth the housln8 property redevelopments at I to 7 Wlnnocks. The charlty would be requ5red to repay the grant In full If the houslng properties for whlch these grants were awarded are subsequently sold. Cycllcal Malntenance Reserve A transfer Is made from the Revenue Reserve each year to the Cycllcal Malntenance Reserve to c(wer cycllcal repalrs as they arlse. The transfer ts a speclfic amount as agreed by the Trustees each year. Extraordlnary Repalr Reserve A transfer Is made from the Revenue Reserve each year to the Extraordlnary Repalr Reserve to cover extraordlnary repairs and Improvements to the housln8 propertles If necessary. The transfer Is a speclflc amount as agreed by the Trustees each year. Revenue Reserve The Revenue Reserve represents part of the accurnulated surpluses of the Charlty and 15 avallable for the general purposes of the Charlty, In addltlon to thls, any downward revaluatlon of the hou51ng propertles held where no prevlous revaluatlons can be offset of the same asset Is recognlsed In the Revenue Re5eTve and any subsequent upward revaluatlOll5 are reco8nlsed In the Revenue Reserve up to the value of the Inltlal downward revalultlon prevlously reco8nlsed. 19. RELATED PARTY D15CLOSURES There were no related party transaction5 for the year ended 31 May 2024. -22-
WINNOCKS AND KENDALIS ALMSHOUSE CHARITY DETAILED STATEMENT OF FINANaAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2024 2024 2023 INCOMEAND ENDOWMENTS Investment Income Divldends receivable Interest recelvable I,IS4 7,260 1,009 4,498 8,414 5,507 Charltable actlvltles Contrlbutlons recefvable Losses from volds Gas contrlbutlons recelvable Water contrlbutlons recelvable 277,220 112.724) 9,693 2,228 262,165 15.4871 10,356 2,280 276,417 269,314 Total Incomlng resources 284,831 274,821 EXPENDITURE Charltable actlvltles Staff costs Vacant property costs Water charges Insurance Llght and heat Repalrs and malntenon¢e Cycllcal malntenance Extraordlnary repalrs Gardenlng Carellne Cleaner Telephone Sundry expense5 Hou51n8 loan Interest 2,400 392 2,850 4,948 15,911 35,463 30,804 67,96S 12.718 4,517 1,751 2,988 1,031 38,058 2,400 157 4,147 4,237 17,078 42,682 30,214 62,371 12,042 5,026 838 2,656 2,018 39,103 221.796 224,969 Support costs Management Staff costs Clerks fees Professlonal fees Carried forward 2.400 25,800 5,544 33,744 2,400 25,800 4,680 32,880 Thls page does not form part of the statutory flnanclal statements
WINNOCKS AND KENOALLS ALMSHOUSE CHAR DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAY 2024 2024 2023 Management Brought fonKard Subscrlptlons 33.744 582 32.880 413 34,326 33,293 Flnance Bank charges 286 324 Governance costs AudStors' remuneration Audltors, remuneratlon for non audlt work 6,870 3,210 6,540 3,060 10,080 9,600 Total resources expended 266,488 268,186 Net Income 18,343 6,635 This page does not form part of the statutory flnanclal statements -24-