ROLLESTON ALMSHOUSE CHARITY ANNUAL REPORT AND ACCOUNTS for the year ending 3 1st December 2023 Registered Charity No 1158564
ROLLESTON ALMSHOUSE CHARITY TRUSTEES ANNUAL REPORT for tbe year ending 31st December 2023 Scheme The objects of the Charity are., 1. The maintenance and provision of almshouse accommodation for the public benefft of those in charitable need including those in financial hardship and who are resident in the parishes of Rolleslon 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 facilities. 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 Slaffordshire. The objects are set out in Ihe Governing Document adopted bythe Trustees on 12th September 2014. Review of Activities The Charity owns and mainlains 6 almshouses at Burnside, Rolleston on Dove, Staffordshire. Title to the property is vested in the Official Custodian for Charities. The Trustees regularly contacted the residents during the year lo ensure the almshouses were in satisfactory condition. Refurbishment of the almshouse at No 10 was completed in Autumn 2023 and the vacancy was filled by the resident at No 4 on 2nd November 2023. Refurbishment of the almshouse at No 4 was completed in Spring 2024 and the vacancy filled on 29th April 2024. The Weekly Maintenance Contributions remained at £66 throughout the year, though the weekly charge for the renovated almshouse al No 12 was increased to £70. All Weekly Maintenance Contributions were increased from 1 st January 2024. During the year, £39,455 was spent on the almshouse at No 10 in anticipation of its occupation. £38,872 of this expenditure was charged lo the Extraordinary Repair Fund with the balance of £583 charged to the Cyclical Maintenance Fund. The Trustees also spent £13,608 during the year repairing the flat roofs {charged to the Extraordinary Repair Fund) and £2,384 replacing the back doors (charged to the Cyclical Maintenance Fund}. The Trustees were delighted to receive donations from individuals and other volunlary organisations within the local community towards the costs of modernising the almshouses which totalled £3,641.
Mana ement The Trustees met five times during the year to conduct and review the management of the Charity. Recruitment of Trustees All Trustees shall be persons over the age of16 residing or carrying on business in or near the 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 to the skills, knowledge and experience 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 Trustees have chosen to prepare the Charity's accounts on a reiptS and payments basis. Charit Funds The Almshouse Fund is a capital fund representing the value of the property at 2-12 Burnside. On 12th August 2014 the property was valued by Wayne J Goodwin BA (Honsl Bsc MRICS FNAEA al £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 Goveming Document. In accordance with best practi, the Trustees have chosen to maintain an Extraordinary Repair Fund lo provide for the extraordinary repair, improvement or rebuilding of the almshouses. Similarly, the Trustees have chosen lo maintain a Cyclical Maintenance Fund to provide for those items of ordinary maintenance and repair of the almshouses as recur at infrequent intervals. Both are restricted income funds. The Reserves represent the accumulated income of the Charity which is available for expenditure in furtherance of the Chanly's objects at the discretion of the Trustees. Reserves Polic The Trustees consider an appropriate level of Reserves should be held to ensure the Charity has sufficient resources lo meet its ongoing expenditure and to allow time for re-organisation in the event of an unforeseen increase in expenditure or liabilities or an unexpected downturn in income or assel values.
The Trustees have made an assessment of the risks and other issues facing the Charity and have considered it prudent to set a target level of Reserves at an amount equivalent to one year's estimated ordinary annual expenditure of the Charity. The Reserves Policy is reviewed periodically by the Trustees. The amount held as Reserves at 31 sl December 2023 was £12,093, marginally above the target level. Investment Polic The BlackRock Charilies UK Bond Fund performed steadily during the year due to its composition of fixed interest securities. The M&G Charity Multi Asset Fund rallied strongly in the second half of the year, largely due to its higher equity content reflecting the recovery in the UK stock market. During ihe period the Trustees regularly reviewed the performance of the investments and they are satisfied with the overall balance of the investment portfolio. Risk Mana ement 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 objeclives and operation of the Charity are not compromised.
Le al & Administrative Information Rolleston Almshouse Charity Registered Charity No 1158564 148 High Street, Burton upon Trent DE14 1JY www.rollestonalmshouses.or Trustees Mr S D Richardson (Chairman) Mr S Sanderson (VI Chairman) lelecled Chairman 26th June 20231 Cllr Mrs B Toon Appointed lelected Vice Chairman 24th July 20231 Mr S D Appleby Ms A J Gillespie Appointed on 24th July 2023 Appointed Mr R N Houston Ms S J Reader Appointed on 241h July 2023 Nominated by Anslow Parish Council on 21st January 2024 Nominated by Rolleston Parish Council Appointed on 2nd October 2023 Appointed Appointed (resigned 25th May 2023) Nominated by Rolleston Parish Council Mr M D Robson Mrs R D Tomlinson 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 Mrs Mcmanus Solicitors Bankers Talbol & Co 148 High Street Burton upon Trent DE14 1JY Lloyds Bank plc 16 High Street Burton upon Trent DE14 1JA Signed Mr S Sanderson (Chairman) Date
INDEPENDENT EXAMINER'S REPORT I report on the accounts of the Rolleston Almshouse Charity for ihe year ended 31 st tkcernber 2023 which are sel out on pa&Jes 6 to 8. Respeetive responsibilities of Trustees and Examiner The Charity's Trustees are responsible tor the preparation of the accounts. The Trustee5 consider that an audit is not required for this year under section 144(2) ot" the Charities Act 2011 (the 201 l Act)) and that an independent examination is needed. It is my responsibility to examine the accounts (under section145 ot'the 201 l Act), follow the procedures laid down in the General Directions given by the Charity Commission {under scLtion 145{5)(b) of the 201 l Act) and stale whether any particular matters have come to my attention. Basis of Independent Examiner's report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison ol. the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations t.rom you as Trustees conueming any such matters. The procedures undertaken do iiot provide all the evidence that would be required in an audit and consequently no opinion is given as lo whether ihe accounts preseiit a "true and fair view" and the report is limited to those maiters set out in the statement below. Ind¢pendent Examiner's statement In conne¢iion 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 Acl and to prepare accounts kn,hich accord with ihe accounting records and comply with the accounting requirements of the 2011 Act have not been mel or lo which, in my opinion. iittention should be drawn in order io enable a proper understanding ot'the accounts to be r¢ached. Signed..........-............................................... Mr S Mcmanus Dale
Rolleston Almshouse Charity Statem8nt of Assets and Liabilities as at 31st December 2023 Gen•ral Restrl¢ted Endowmgnt Funds Funds Funds Total 31.12.23 Total 31.12.22 Tanglblg Assets Property 171,600 171,600 171,600 171,600 171.600 171.600 Investment Assets BlackRock - Capital BlackRock - ERF 4,060 4,060 3,996 39,285 BlackRock- SR 1.211 1,211 1,192 BlackRock- SFM 307 307 302 M&G- ERF 54,244 54,244 51,073 1.518 4,060 59,822 95.848 Cash Funds COIF Deposit AIC ERF COIF Deposit wc Bank Current AJC 336 336 322 331 331 11,251 10,244 5.105 15,349 9,S92 10.575 5.441 16,016 21,165 NET ASSETS 12.093 59,685 175,660 247.438 288.613 Representod by: Almshouse Fund 171,600 171,600 171,600 Endowment Fund 4,060 4,060 3,996 Extraordinary Repair Fund Cyclical Mainlenan¢e Fund Reserves 54,580 54,580 96,887 5,105 5,105 3,801 12,093 12,093 12,329 TOTAL FUNDS 12,093 59.685 175,660 247.438 288,613 Signed Dale Mr S Sanderson (Chaimanl
Rolleston Almshou8e Charity Recelpts and Payments Account for the year ended 31st December 2023 General Restrlcted Endowment Total YIE Total YIE Funds Funds Funds 31.12.23 31.12.22 Receipts Contributions from Residents 17,786 17,786 18,862 Donations Received 3,641 3.641 1,220 Grants Received Gift Aid Reclaimed COIF Interest Received Charinco Dividend Income 80 14 112 61 709 164 934 2,007 NAACIF Dividend Income 2,070 2,070 1,884 17,927 164 24,525 24,085 Payments Repairs & Maintenance 1,624 55.448 57,072 52.747 Insurance 868 868 743 Water Rates 1,359 1,359 1,204 Community Call System Council Tax 1,216 1,216 1.164 Electricity TV Licence 690 690 400 22 22 Christmas Gifts 150 150 150 Almshouse Association Subs 286 277 Clocks & Bridges Fund Clerk's Remuneration 5,100 5.100 4,500 Professional Fees 36 36 Trustees, Expenses miSlIaneouS 11.351 55.448 66,799 61.193 Surplus for the year 6.576 49,014 164 42.274 7.108
Rolleston Almshous& Charity Statement of Movement of Funds for the year ended 31st Oecember 2023 Almshouse End'ment Fund Fund ERF CMF Reserves Total Balance at 01.01.23 171,600 3,996 96,887 3,801 12,329 288,613 Surplus for year Transfers 164 46,046 -2,968 6,576 42,274 -164 2.728 4,272 -6,836 Revaluation of fund 1,011 24 1,099 Balance at 31.12.23 171.600 4,060 54,580 5.105 12,093 247,438