ROLLESTON ALMSHOUSE CHARITY ANNUAL REPORT AND ACCOUNTS for the year ending 31 st December 2022 Registered Charity No 1158564
ROLLESTON ALMSHOUSE CHARITY TRUSTEES ANNUAL REPORT for tbe ye2r ending 31$t December 2022 Scheme The objects of the Chanty are., 1. The maintenance and provision of almshouse accommodation for the public benefit of those in charitable need including those in financial hardship and who are resident in the parishes of Rolleston and Anslow in Staffordshire. 2. The relief of financial hardship, either generally or individually, of the residents of the parishes of Rolleston and Anslow in Staffordshire by making grants of money or providing or paying for items, services or facilitie8. 3. The maintenance of the clock of St Mary's Rolleston parish church and the bridges over Rolleston brook for the public benefit of the residents of the parishes of Rolleston and Anslow in Staffordshire. The objects are set out in the Governing Document adopted by the Trustees on 12th September 2014. Review of Activities The Charity owns and maintains 6 almshouses at Burnside, Rolleston on Dove, Staffordshire. Tille lo the property is vested in the Official Custodian for Charities. The Trustees regularly contacted the residents during the year to ensure the almshouses were in salisfactory condition. The almshouse at No 12 remained vacant until 15th October 2022 when the resident at No 10 moved in. No 10 is now vacant pending refurbishment which is expected to be completed by the the Autumn of 2023. Otherwise, all the almshouses were fully occupied throughout the year. The Weekly Maintenance Contributions remained at £66 throughout the year, though the weekly charge forthe renovated almshouse at No 12 was increasea lo £70. During the year, a further £26,476 was spent on the almshouse at No 12 in anticipation of its occupation. £23,801 of this expenditure was Charged to the Extraordinary Repair Fund with the balance of £2,675 charged to the Cyclical Maintenance Fund. The Trustees also spent £22.470 during the year installing central heating in the remaining almshouses and this expenditure was also charged to the Extraordinary Repair Fund. The Trustees were delighted to receive donations from other voluntary organisations within the local community towards the Costs of modernising the almshouses which totalled £1,220.
Mana ement The Trustees met Ihree times during the year to conduct and review the management of Ihe Charity. Recruitment of Trustees All Trustees shall be persons over the age of16 residing or carrying on business in or near Ihe parishes of Rolleston and Anslow in Staffordshire. 2 Trustees are nominated by Rolleston on Dove Parish Council, 1 by Anslow Parish Council and 1 by East Staffordshire Borough Council, though ESBC has decided they no longer wish to nominate a Trustee. In addition, the Charity should have not less than 3 nor more than 6 appointed Trustees. In selecting individuals for appointment, the Trustees have regard lo the skills, knowledge and experien needed for the effective administration of the Charity. Public Benefit In exercising their powers and duties the Trustees have at all times complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission. Accounts The Truslees have chosen to prepare the Charity's accounts on a receipts and payments basis. Charit Funds The Almshouse Fund is a capital fund representing the value of the property al 2-12 Burnside. On 12th August 2014 the propety was valued by Wayne J Goodwin BA (Hons) Bsc MRICS FNAEA at £171,600. The Endowment Fund is a capital fund from which the income generated is applied by the Trustees in accordance with the objects set out in the Governing Document. In accordance with best practice, the Truslees have chosen to maintain an Extraordinary Repair Fund to provide for the extraordinary repair, improvement or rebuilding of the almshouses. Similarly, the Trustees have chosen to maintain a Cyclical Maintenance Fund to provide for those items of ordinary maintenance and repair of the almshouses as recur al infrequent intervals. Both are restricted income funds. The ReseNes represent the accumulated income of the Charity which is available for expenditure in furtherance of the Charity's objects at the discretion of the Trustees. Reserves Polic The Trustees consider an appropriate level of Reserves should be held lo ensure the Chanty has sufficient resources to meet its ongoing expenditure and to allow time for re-organisation in the event of an unforeseen increase in expenditure 01 liabilities or an unexpected downturn in income or asset values.
The Trustees have made an assessment of the risks and other issues facing the Char(ty and have considered it prudent to set a larget level of Reserves at an amount equivalent to one year's estimated ordinary annual expenditure of the Charity. The Reserves Policy is reviewed penodically by the Trustees. The amount held as Reserves at 31 st December 2022 was £12,329, marginally above the target level. Investment Polic The Bla¢kRock Charities UK Bond Fund performed poorly during the year due to its composition of fixed interest secunties. Despite market volatility, the M&G Charity Multi Asset Fund maintained its value, largely due to its higher equity conlenl. During the period the Trustees regularly reviewed the performance of the investmenls and they are satisfied with the overall balance of the investment portfolio. Risk Mana ment The Trustees manage and govern the Charity in such a way as to minimise exposure to any risks, be they governance, operational, financial, compliance or other risks, but so long as the objectives and operation of the Charity are not compromised.
Le al & Administrative Information Rolleston Almshouse Charity Registered Charity No 1158564 148 High Street, Burton upon Trenl DE14 1JY www.rollestonalmshouses.or Trustees Mr S D Richardson (Chairman) Mr S Sanderson (Vice Chairman) lelected Chairman 26th June 20231 Ms A J Gillespie Mr P W Gopsill Mr M C Halsall Appointed (resigned 25th May 2023) Nominated by Rolleston Parish Council Appointed Appointed {resigned 2nd September 2022} Nominaled by Anslow Parish Counci (resigned 13th May 2022) Nominated by Rolleston Parish Council Appoinled Appointed Mr M Robson Cllr Mrs B Toon Mrs S J Whitty Clerk to the Trustees Mr T J Bramall LLB, 148 High Street, Burton upon Trent DE14 1JY Tel.. 01283 564716 Email.. charities talbotco.co.uk Accounts Examiner 26.7.2* Solicitors Bankers Talbot & Co 148 High Street Burton upon Trent DE14 1JY Lloyds Bank plc 16 High Street Burton upon Trent DE14 1JA Signed Date Mr S Sanderson (Chairman)
INDEPENDENT EXAMINER'S REPORT I report on the accounts ot the Rolleston Almshouse Charity for the year ended 3 1st December 2022 which are set out on pages 6 to 8. Respective re$pon5ibilities of Trustees and Examiner The Charity's Truste¢s ale responsible for the preparation of the accounts. The Trustees consider Ihal an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 201 l Act)) and that an independent examination is needed. It is my responsibility lo examin¢ the accounts (under s¢clion 145 of the 2011 Act), tollow the procedures laid down in the General DireLlions given by the Charity Commission (under section 14515}(b) ot. Ihe 201 l Act) and state whether any particular matters have come to my all¢ntion. Basis of Independent Examiner's report My examination was carried oul in accordance with the General Directions given by the Charity Cornmission. An examination includes a review of the accounting records kept by the Charity and a comparison ot the accounts presented with those re¢ords. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees conceming any such mailers. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those maiters set oul in the slalement below. Independent Examiner's statement In conneclion with my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 130 of the 2011 Act and to prepare accounts which accord with the accounting records and Comply with the acCOLtIng requirements ot the 2011 Act have not been mel or to which. in my opinion, allention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed..................... Mr S Mcmanus Date Zc)L*
Rolleston Almshouse Charity Statement of Assets and Liabllities as at 31st Decernber 2022 General Restricted Endowment Funds Funds Funds Total 31.12.22 Total 31.12.21 Tangible Assets Property 171,600 171,600 171,600 171,600 171.600 171,600 Investment Assets BlackRock - Capital 8lackRock- ERF 3,996 3,996 5,028 39,285 39.285 89,883 BlackRock - SR 1,192 1,192 1,500 BlackRock- SFM 302 302 380 M&G- ERF 51,073 51,073 50,673 1,494 90.358 3.996 95,848 147,464 Cash Funds COIF DeF)OSit AJC ERF COIF Deposit AJC Bank Current AJC 322 322 319 1.243 10,008 11,251 11.142 9,592 9,592 10,599 10.835 10.330 21,165 22.060 NET ASSETS 12,329 100,688 175,596 288.613 341,124 Represented by- Almshouse Fund 171,600 171.600 171,600 Endowment Fund 3,996 3.996 5,028 Extraordinary Repair Fund Cyclical Maintenance Fund 96.887 96,887 148,254 3.801 3,801 3,476 Reserves 12,329 12.329 12.766 TOTAL FUNDS 12,329 100,688 175,596 288,613 341,124 Signed......... Mr S D Richardson {Chairm8nl
Rolleston Almshouse Charty Recelpts and Payments A¢count for the year ended 31$t December 2022 Gengral Rostrlcted Endowment Total YIE Totsl YIE Funds Funds Funds 31.12.22 31.12.21 Receipts Contributions from Residents 18,862 18,862 17,376 Donations Received 1.220 1,220 117 Grants Received 2,000 Gift Aid Reclaimed COIF Interest Received 109 112 Charinco Dividend Income 61 1,782 164 2.007 3,092 NAACIF Dividend Income 1,884 1,884 1,474 19,032 4,889 164 24,085 24,064 Payment8 Repairs & Maintenance Insurance 3,801 48,946 52,747 48,124 743 743 685 Water Rates 1,204 1,204 1,076 Community Call System Council Tax 346 1,164 1,164 1,916 Eleclri¢ity TV Licence 400 400 22 Christmas Gifts 150 150 150 Almshouse Association Subs 277 277 272 Clocks & Bridges Fund Clerk's Remuneration 4,500 4,500 4,200 Professional Fees Trustees, Expenses Miscellaneous 20 12.247 61,193 56,811 Surplus for the year 6.785 44.057 7.108 -32,747
Rolleston Almshouse Charlty Statement of Movement of Funds for the year endgd 31st December 2022 Almshouse End'ment Fund Fund ERF CMF RoseThos Total Balance al 01.0122 171,600 5,028 148,254 3,476 12,766 341,124 Surplus for year Transfers 164 41,382 -2,675 6,785 -37,108 -164 4.000 3,000 -6,836 Revaluation of fund -1,032 -13,985 -386 -15,403 Balance at 31.12.22 171,600 3.996 96.887 3,801 12,329 288,613