Company registration number: CE020876
DANIEL TAYLOR ALMSHOUSES CIO
TRUSTEES REPORT AND UNAUDITED FINANCIAL STATEMENTS 31ST MARCH 2024
| Contents | |
|---|---|
| Trustees report | 1 - 2 |
| Independent examiners report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 7 - 10 |
| The following page does not form part of the statutory accounts | |
| Trading accounts for the year to 31st March 2024 | 11 |
DANIEL TAYLOR ALMSHOUSES CIO
TRUSTEES' ANNUAL REPORT
YEAR ENDED 31ST MARCH 2024
The trustees present their report and the financial statements of the charity for the year ended 31st March 2024.
The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS102) in preparing the annual report and financial statements of the charity.
Structure, Governance and Management
Governing document
The charity converted to Charitable Incorporated Organisation on 9 September 2019. A new governing document was adopted on 27 February 2020.
Objectives and activities
The principal activity of the company is to provide for and maintain the Almshouses in South Street Bridport for the benefit of the poor and needy of Bridport.
Achievements and performance
This has been a difficult period, requiring considerable change and continuing consolidation.
The Almshouses in South Street continue as before, accommodating six people. Regular maintenance has been completed with more scheduled.
Work has stopped on the conversion of Chancery House, in order to conserve our financial resources and prepare the property for sale on the open market.
Financial review
The charity continues to make a surplus on its activities. See the financial statement for details.
Plans for future periods
Work has ceased on the conversion of Chancery House - the escalation of building material costs and labour costs meant that we are unable to complete the work. A decision has been made to secure the building and then market the property with the existing Planning Permission.
The (Barclays) covenant and Dorset Council Section 106 restrictions will remain in place. The new owner, when work is completed, will be able to offer low-cost housing for eight to twelve persons.
The intention of the Trustees, when Chancery House is sold, is to use the capital to purchase smaller properties to rent at an 'affordable level'.
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DANIEL TAYLOR ALMSHOUSES CIO
TRUSTEES' ANNUAL REPORT
YEAR ENDED 31ST MARCH 2024
Trustees' responsibilities in relation to the financial statements
The trustees (who are also directors of the charity for the purposes of company) are responsible for preparation of these documents. Company law requires the trustees to prepare financial statements for each financial year , which give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the board of trustees on and signed on behalf of the board by:
KA Day
Trustee
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INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF DANIEL TAYLOR ALMSHOUSES CIO
YEAR ENDED 31ST MARCH 2024
I report to the charity trustees on my examination of the accounts of the company for the year ended 31st March 2024 which are set out on pages to
Responsibilities and basis of report
As the charity trustees of the company you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011.
Having satisfied myself that the accounts of the company are not required to be audited are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
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:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
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 accounts to be reached.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Daniel Taylor Almshouses CIO for the year ended 31st March 2024 which comprise the Profit and Loss Account, Balance sheet, statement of changes in equity, statement of cash flows and related notes from the company's accounting records and from information and explanations you have given us.
Martin and Company (Bridport) Limited
2 Victoria Grove Bridport Dorset DT6 3AA
30th January 2025
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DANIEL TAYLOR ALMSHOUSES CIO
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31ST MARCH 2024
| Note Income and endowments from: Donations and Legacies Other trading activities 2 Expenditure on: Charitable activies 3 Other 4 Total resources expended Net incoming resources before revaluations and investment asset disposals Gains and Losses on revaluations of fixed assets Net movements in funds Total funds brought forward Total finds carried forward |
Unrestricted Funds £ 165 31,928 32,093 16,938 23,556 40,494 8,401 13,280 4,879 358,301 £363,180 |
Total Funds 2024 £ 165 31,928 32,093 16,938 23,556 40,494 8,401 13,280 4,879 358,301 £363,180 |
Total Funds 2023 £ 7,000 26,686 33,686 10,226 57,124 67,350 33,664 ) (6,883 40,547 398,848 £358,301 |
|---|---|---|---|
All income and expenditure is derived from continuing activities.
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DANIEL TAYLOR ALMSHOUSES CIO
BALANCE SHEET
31ST MARCH 2024
| Note Fixed assets Tangible assets 5 Investments 6 Current assets Debtors 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 9 Net assets Capital funds Unrestricted funds Total funds |
2024 £ £ 295,936 99,519 395,455 529 17,959 18,488 ) (3,748 14,740 410,195 ) (47,015 £363,180 363,180 £363,180 |
2023 £ £ 270,926 133,239 404,165 449 5,037 5,486 ) (3,130 2,356 406,521 ) (48,220 £358,301 358,301 £358,301 |
|---|---|---|
The notes on pages 7 to 10 form part of these financial statements.
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DANIEL TAYLOR ALMSHOUSES CIO
BALANCE SHEET (CONTINUED)
31ST MARCH 2024
For the year ending 31st March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on 30th January 2025, and are signed on behalf of the board by:
K Day Trustee
Company registration number: CE020876
The notes on pages 7 to 10 form part of these financial statements.
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DANIEL TAYLOR ALMSHOUSES CIO
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST MARCH 2024
1. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below.
These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011.
Incoming resources
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with use of the resources.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold improvements - 4% straight line
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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DANIEL TAYLOR ALMSHOUSES CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
YEAR ENDED 31ST MARCH 2024
| 2 Income Donations and legacies Donation and Grants Other trading activites Rents receivable Energy rebates 3. Expenditure on charitable activites Insurance General and water rates Light and heat Property repairs 4. Other costs General expenses Bank charges Wages and salaries Administration costs Accountancy fees Legal and professional Loan interest Depreciation of tangible assets |
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DANIEL TAYLOR ALMSHOUSES CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
YEAR ENDED 31ST MARCH 2024
5. Tangible assets
| Cost At 1st April 2023 Additions At 31st March 2024 Depreciation At 1st April 2023 Charge for the year At 31st March 2024 Carrying amount At 31st March 2024 At 31st March 2023 6. Investments Cost or valuation At 1st April 2023 Disposals Revaluations At 31st March 2024 Impairment At 1st April 2023 and 31st March 2024 Carrying amount At 31st March 2024 At 31st March 2023 |
Freehold property Total £ £ 317,019 317,019 39,262 39,262 £356,281 £356,281 46,093 46,093 14,252 14,252 £60,345 £60,345 £295,936 £295,936 £270,926 £270,926 Investments Total £ £ 133,239 133,239 ) (47,000 ) (47,000 13,280 13,280 £99,519 £99,519 £- £- £99,519 £99,519 £133,239 £133,239 |
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DANIEL TAYLOR ALMSHOUSES CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
YEAR ENDED 31ST MARCH 2024
| 7. Debtors Prepayments and accrued income 8. Creditors: amounts falling due within one year Bank loans and overdrafts Accruals and deferred income 9. Creditors: amounts falling due after more than one year Other creditors |
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DANIEL TAYLOR ALMSHOUSES CIO
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31ST MARCH 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Turnover | ||||
| Donations, grants and legacies | 165 | 7,000 | ||
| Rents receivable | 30,378 | 24,492 | ||
| Energy rebates | 1,550 | 2,194 | ||
| 32,093 | 33,686 | |||
| Staff costs | ||||
| Wages and salaries | 1,406 | 1,283 | ||
| ) (1,406 |
) (1,283 |
|||
| Depreciation and other amounts written off assets | ||||
| Depreciation of tangible assets | 14,252 | 12,680 | ||
| ) (14,252 |
) (12,680 |
|||
| Other charges | ||||
| Administration costs | 1,128 | 908 | ||
| General and water rates | 2,688 | 907 | ||
| Insurance | 2,747 | 1,764 | ||
| Light and heat | 6,322 | 4,690 | ||
| Property repairs | 5,181 | 2,865 | ||
| Legal and professional | 2,934 | 41,037 | ||
| Accountancy fees | 480 | - | ||
| Bank charges | 12 | - | ||
| General expenses | 564 | 196 | ||
| (Surplus)/deficit on revaluation investments | ) (13,280 |
6,883 | ||
| Loan interest | 2,780 | 1,020 | ||
| ) (11,556 |
) (60,270 |
|||
| Operating Profit/(Loss) | 4,879 | ) (40,547 |
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