Charlty reglslratlon number 1168780 THOMAS WHITE COTTAGE HOMES (2016) CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THOMAS WHITE corrAGE HOMES (2016) CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Trust99S Mr G Pegg MrT Horton Rev RA Khan Mrs C Maund Mrs L R&ading Mrs N Schirrmacher Ms M Stafford Clerk Mr Malford J Harris Charity numbor 1168780 Prlncipal address 3 Maxiock Avenue Lichfield Stsffordshire WS13 8PE Independent examlner Colm McGrory The Oakley Kidderminster Road Droitwich vR9 9AY Bankers Barclays Bank PIC Leicester Leicestershire LE87 2BB
THOMAS WHITE COThAGE HOMES (2016) CHARITY CONTENTS Page Trustees, report Indgpendenl examiner's report statement of financial activities Balan sheet Notes lo the financial statoments 7-17
THOMAS WHITE COTTAGE HOMES (2016) CHARITY TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual report and financial stslements for the year ended 31 Dember 2023. The financi81 ststemenls have been prepared in accordance wlth the aOUnting wlicies set out in note 1 to the financial slalements and comply with the Charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Slalement of Recommended Pra¢ti¢e applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019)" Objectlves and actlvltles Obje¢tives and aims The Charity aims to provide in the fourteen flats which comprise the Cottage Homes, accommodation for single women in need of not less than 60 years of age, with a preference for such women who are resident al the time of their appointment in the area of the Anent Parish of Bromsgrove or who have had a longstanding commitment to the town of Bromsgrove. Slgnrficant activities In planning the Charty's activities for the year the Trustees kept In mind the Charity Commission's guidance on public benefit. The focus of the Charity's activities remains the accornmodalion of eligible residents in the Charitys properties and lo ensure that its flats are maintained to a reasonable standard and refurbished as the need arises. Volunteers The Charity relies on the unpaid services of the Trustees. Achlevemeftts and perfomiance Charitable activities The Charity's principal achievement during the year was the completion of ils project to improve the themial efficiency of ils flats by the inslallalion of UPVC double-glazed wndows lo the main southern elevation of ils properties. This has been greatly appreciated by residents, reducing noise from New Road and assisting in keeping flats warm. The condensation caused by the former single-glazed wndows has been considerably reduced, and there a major savings in future maintenance costs. The Charity Continued lo improve the gardens and hedges surrounding the Homes, and has started work on replacing the safety railings trj the front of its properties. It has commissioned a design for them, which is under consideration. It is also pursuing the restoration of the gales to the properties. which are of historic inlerttst, lo their original appearance. Towards the end of the year the Charity commlss6oned a review by a specialist surveyor with a view to eraLlicaling historic damp problems which have from lime to lime affected the properties. His report has been considered and his recomfflendations are in the couise of implementslion. Investmentperformance The Charity's investment Is ils holding in the M & G Investments National Association of Almshouses Common Investment Fund. Reserves are placed on deposit with ils bank. Financial review Principal funding sources The Charity's principal source of funding continues to be Weekly Maintenance Contributions made by ils Residents, supplemented by the income from its M & G investment. The double-glazing project reported above was, in part, financed by an interest-free loan from the Almshouse Association, the balan being mel by combinatlon of granls received and ils own funds. The Charity accordingly acknowledges the generosity of a number of local and other charitie5 who have grant aided the work mentioned above.
THOMAS WHITE corrAGE HOMES (2016) CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Reserves pollcy The policy of the Charity is lo maintain ils M & G investment unless ils funds are required for and properly applicable to ils ¢harilable objects, and to hold accumulated cash lo meet costs as they arise. The Charity tries to maintain a break-even situation annually. Otherwise reserves are applied lo proper charitable needs within ils objects as those needs arise. The Trustees have assessed the major Tisks to which the Charity is exposed, and are sallsfied that systems are in place lo miligale exposure lo them. Structure, govemance and management Goveming do¢ument The Charity is a Charitable Ineorporaled Organisation and is govemed by its constitution adopted on 31 July 2016, as amended on 7 December 2020 to facilitate the appointment of new and additional trustees. A copy of the constitution is available from the Charity. The Trustees who served during the year and up to the dale of signature of the financial statements were.. Mr G Pegg MrT Horton Rev RA Khan Mrs C Maund Mrs L Reading MTS N Schirrmacher Ms M Stsfford Recruitment and appoiTntment of new Trustees The B¢)ard of Trustees are authoris8d to appoint new trustees lo fill vacancies arising through death or signalion of an existing Trustee. Organisational structure The day lo day management is delegaletj by the Trustees lo the Clerk, who is an employee of the Charity. Policy and strategic decisions are made by the Board of Trustees at regular meetings. The Charity provides the services of a part-tsme warden to support Its Residents. A new warden became an employee of the Charity and look up her post in January 2023. Introduction and training of new trustees New Trustees are instructed by the Clerk and existing Trustees as to their duties and responsibilities and develop IheiT knowledge of the Charity through Trustee meetings and involvement in the Charity's activities.
THOMAS WHITE COTTAGE HOMES (2016) CHARITY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 statement of Trusteos. responsibilities The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance wth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pra11. The law applic8ble to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a trLte and fair view of the stale of affairs of the Charity and of the incoming resource5 and application of resources of the Charity for that year. In preparing these financial slatemenls, ltte Trustees are required to. select suitabl& accounting policies and Ihen apply them consistently., observe the methods and principles in the Charities SORP". make judgements and estimates that are reasonable and prudent., slate whether applitable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- and Prepare the financial slalemgnls on the going concem basis unless il is inappropriate to presume that the charity wll continue in operation. The Trustees are responsible for keeping sufficient accounting rgcords that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure th81 the financial statements comply wth the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the piovisions of the trust deed. They are also responsible for safeguarding the assets of the Chaiity and hence for taking reasonable s19PS for the prevention and detection of fraud and other irregularities. The Trustee ' ep rt was approved by the Board of Trustees. MrGPeg Trustee Dated-. 02LL
THOMAS WHITE COTTAGE HOMES (2016) CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THOMAS WHITE COTTAGE HOMES (2016) CHARITY I report lo the Trustee5 on my examination of the financial ststemenls of Thomas White Cottage Homes 120161 Charity (the Charilyl for the year ended 31 December 2023. Responslbllities and basls of report As the Trustees of the Charity you are responsible for the preparation of the finanaal statements in accordance 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 se¢lion 145 of the 2011 Act. In carying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5llbl of the 2011 Act. Independent examinerfs statement I have completed my examination. l eonfirm that no matters have eome to my attention in connection wth the examination giving me cause lo believe that in any material respect". accounting records were not kept in respect of the Charity as required by section 730 of the 2011 Act,. or the financial stslewents do not accord with those records., or the financial slalemonls do not comply with the applicable requirements concerning the form and content of accounts sel out in Ihg Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a rnatter considered as part of an indeperidenl examination. I have no concems and have come across no other matters in connection wlh the examination to which attention should be drawn in this report in order lo enable a proper undeislanding of the financial slalemenls to be reached. Colm McGrory The Oakley Kidderminsler Road Drortwich Vvorceslershire VVR9 9AY Dated..
THOMAS WHITE COThAGE HOMES (2016) CHARITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Unrestricted Ro$trlcted funds funds funds General Rgvaluation fund Total 2023 Totsl 2022 Notes Income from- Donations and legacies Charitable aclivibes Investments 6,500 78.232 10,461 7,500 14,000 78,232 10,481 57,515 65,492 8,585 Total Income 95.193 7.500 102.693 131,592 Ex endtture on: Charitable activities 132,337 2,628 34.719 169.684 81.292 Nel gainslllossesl on investments 10 3,667 3,667 16,8971 Net movemant in funds 133,4771 {2,6281 {27.2191 163,324} 43,403 Fund balances at 1 January 2023 972,919 505.740 27,219 1,505.878 1.462.475 Fund balances at 31 December 2023 939,442 503.112 1.442,554 1.505.878 The slalemenl of financial activities indudes all gains and losses recognised in the year. The slalement of financial activities includes all gains and losses recognised in the year. Ml income and expenditure derive from continuing aGtivities.
THOMAS WHITE COTTAGE HOMES (2016) CHARITY BALANCE SHEET ASAT 31 DECEMBER 2023 2023 2022 Notes Flxed assets Tangible assets 12 1.157.913 1,169.007 Current assets Debtors Investments Cash at bank and in hand 13 14 2,382 218.132 145,705 1.579 214.465 131.982 366,199 348,026 Credttors: amounts falling due within one year 16 15,1111 111,1551 Net current assets 361,088 336.871 Total assets less current liabilitie$ 1,519,001 1,505,878 Creditors- amounts falllng due after more than one year 17 176,4471 Net assets 1,442,554 1.505,878 Incomefund$ Reslricled funds Unrestn"¢ted funds- revaluation reserve Unrestricted funds- general 19 18 27.219 505,740 972,919 503,112 939.442 1.442,554 1,505,878 The financl stat ments were approved by the Trustees on ........... ... . MrGPe Trustee
THOMAS WHITE corrAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policles Charlty Inforniation Thomas While Cottage Homes120161 Charty is a Charitable Incorporated Organisation and is governed by ils constitution adopted on 31 July 2016, as amended on 7 December 2020. The prinapal address 15 3 MaxtockAvenue, Lichfield, Slaffordshire, WS13 6PE. 1.1 Accounting convention The financial statements have been prepared in accordance wf(h the Charity's goveming document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice appli¢able to charities preparing their accounts in accordance wth the Financial Reporbng Standard applicable in the UK and Republic of Ireland {FRS 1021 leffeclive 1 January 2019)" The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to pfftpare a Slalemenl of Cash Flows. The financial statement5 are pPared in sterling, which is the functional currency of the Charity. Monetary amounts in these f5nancial slalernents are rounded to the nearest £. The financial slalemenls have been prepared undei the historical cost convenlion, as modified by the revaluatlDn of certain assets. 1.2 Golng concern At the lime of approv¢ng the financial statements. the Trustees have a reasonable expectation that the Charity has adequate resources to ¢ontinue in operational existen for the foreseeable future. Thus the Trustees continue to adopt Ihe going concern basis of accounting in preparing the financial slalemenls. 1.3 Charitable funds Unrostricled funds are available for use at the discretion of the Trustees in furtherance of their charkable objectives. Reslricled funds are subject to specffjic conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes lo the financial slalemenls. 1.4 Incom8 Income 15 recognised when the Charity is legally ents'tled to il after any performance conditions have been met. the amounts can be measured reliably. anLI il is probable that income will be received. Cash dtsn81ions are recognised on receipt. Other donations a recognised once the Charity has been notified of the donation, unless perfomiance conditions require deferral of the amount. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount 15 known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Investment income is included when receivable. 1.5 Expendlture Liabililies are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expendiluTe, a transfer of econofftic benefits will be Tequired in settlement and the amount of the obligation can be meaSUd reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. lthere costs cannot be directly attributed lo parhcular headings they have been allocated to activities on a basis consislenl with the use of resources.
THOMAS WHITE COTTAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng polieies Icontlnuedl Costs of charltable aelivilies are incurred on the charity's operations, including support costs and costs r¢laling to the governance of the charity apportioned to charitable aclivilies. Govemance costs include those costs associated with the meeting of ¢onstilulional and statutory requirements of the charity and include the accountancy fees and costs linked lo the strategic management of the charity. 1.6 Tangible fixed assets Tangible fixed assets are initially measured al cost and subsequently measured at cost or valuation, net of depreaalion and any impairfflenl losses. Depreciation is recognised so as to write off the cost or valuation of assets less Ihgir residual values over their useful lives on the following bases-. Freehold propety Fixtures and fittings straight line over 200 years - 25°k on cost Freehold land is not dePclated. 1.7 Flnanclal instruments The Charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, ar Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of its finanrAal instruments. Financial instruments are recognised in the Charitys balance sheet when the Charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts psented in the finaneial slatemenls, when there is a legally enforceable right lo sel off the recognised amounts and the is an intention to setue on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basi¢ financial assets, which include debtors and cash and bank balances, are initialty measured al transaction price including transaclitsn eosts and are subsequently carried al amortised cost using the effective interest method unless the arrangement conslilules 8 financing transaction, where the transaction 18 measured at the present value of the future receipts discounted at a market rale of interest. Financial assets classified as receivable within one year are not arnortised. Otherfinancial assets OlheT financial assets, including investments in equity instruments which are not subsidiaries, asscKiales or Joint ventures, are initially measured al fair value, which is normally the transaction price. Such asset5 are subsequently carried at fair value and the changes in fair value are recognised in net incomellexpenditurel, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured al cost less impairment.
THOMAS WHITE COTTAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting pollcles IContinu•dl Impairment of financial assets Financial assets, other than those held at fair value through income and expenditure, aTe assessed for indicators of impaimienl al each reporting dale. Financial assets are impaired Whe there is objective evidence that. as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash )lows have been affe¢ted. If an asset is impaired, the impaimient loss is the difference beeen the carrying amount and the present value of the estimated eash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in nel incomellexpendilurel for the year. If there is a decrease in the impaimienl Ios5 arising from an event OCCUTring after the impairment was recognised. the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the catrying amount would have been. had the impairment not previously been recognised. The impairment reversal is recognised in net incomellexpendilurel for the year. Derecognition of financial assets Financial assets are derecognised only when the contractual rights lo the cash flows from the asset expire or are settled, or when the Charty transfers the financial asset and subslanlially all the risks and rewards ol ownership to another entity, or if some significant risks and rewards of ownership are retained bul control of the asset has transfeffed to another paty that is able lo sell the asset in its entirety lo an unrelated third paty. Basi¢ flnan¢lal liabilities Basic financial liabilities, including creditS and bank loans are initially recognised at transaction price unless the arrangement constilules a financing transaction, where the debt instrument is measured al the present value of the futu payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequenuy carried al amortised cost. using the effective interest rate method. Trade Creditors are obligations to pay for goods or seNices that have been acquired in the ordinary Course of operations from suppliers. Amounts payable are classiffed as current liabilities if payment is due within one year or less. If not, they are presented as n0n-Curnt liabilities. Trade creditors are recognised initially al transadion price and subsequently measured al amortised cost using the effectwe interest method. Dere¢ognition of financial liabllltles Financial liabilities are derecognised when the Charty's contractual obligations expire or are discharged or cancelled. 1.8 Taxation The charity is exempt from tax on its charitable activities. 1.9 Current asset Investments Investments held as cuent assets are revalued at mld-market value al the balance sheet dale and the gain or loss taken lo the Statement of Financial Aclivilies.
THOMAS WHITE COTTAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Donatlons and legacies Unrestrlcted Restrlcted funds ftJnd$ general 2023 Total Restricted funds 2023 2023 2022 Grants receivable 6.500 7,500 14,000 57,515 Grants receivable for core actlvltles Baron Davenport Trust LG Harris Trust ROandS Trust John Bradley Wll Trust R&D Turner Trust Grimley Trust GTW Turner Trust Andrew Harris Charitable Trijst Dumbreck Charity 6,000 6.000 10.000 4.000 5,000 22,515 5,000 2,000 5,000 4,000 2,500 2,500 3,000 3.000 2.000 2.000 50Q 500 6,500 7,500 14,000 57,515 Income from charitable acllvltl8s 2023 2022 Residents contributions Other income 77,706 526 65,231 261 78,232 65,492 Investments 2023 2022 Dividends received on current asset investments Bank interest receivable 9,229 1.232 8.500 85 10,461 8,585 10-
THOMAS WHITE COTTAGE HOMES (2016> CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expenditure on charitable actlvities Restrlcted Unrestricted 2023 2023 Total 2023 Restricted Unrestricted 2022 2022 Total 2022 Dlrect costs Lifeline Servi charge Insurance Light. water. he81 & council tax Sundries Propety maintenance Administrative seNices Garden maintenance & landscaping Wndow cleaning Subscriptions Professional fees 1,714 2,903 1,714 2,903 1,714 2.557 1,714 2,557 430 791 86.180 3.759 430 791 120,899 3,759 1,952 813 8,923 14,448 1,952 813 45,219 14,448 34.719 36,2 3,189 1.180 238 5,400 3,189 1,180 238 5,400 3.148 1.190 222 3.148 1,190 222 34,719 105,784 140.503 36,296 34,967 71.263 Share ot support and govemance costs {see note 61 Support 23,799 Governance 5,382 23,799 5,382 9,327 702 9.327 702 34,719 134.965 169,684 36.296 44,996 81,292 Analysls by fund Unrestricted funds- general Unreslricled funds- revaluation reserve Reslricled funds 132,337 132,337 42,368 42,368 2,628 2,628 34.719 2.628 2,828 36,298 34.719 36.296 34.719 134,965 169,684 36,296 44,996 81,292 Support costs allocated to actlvltles 2023 2022 Staff costs Depreciation Governanee costs 12,705 11,094 5.382 9,327 702 29,181 10.029 Analysed between: Unrestricted 29,181 10.029 Governance costs consist of accountsncy fees of £1.382 and a loan arrangemenl fee of £4,000. 11
THOMAS WHITE COTTAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Net movement in fund$ 2023 2022 The nel movement in funds is staled after chargingllcredilingl.. Depreciation of owned tangible fixed assets 11,094 9,327 Trustees None of the Trustees (or any persons connected with them) received any rernuneralion or benefits other than expenses properly incurred in connection with the charrty's activities from the Charity during the year. Employees 2023 Number 2022 Number Employment ¢o$ts 2023 2022 Wage5 and salaries 12,705 There were no employees whose annual remuneration was more than £60.000. 10 Galns and losses on investments Unrestricted Unrestrlcted funds funds 2023 2022 Gainslllosses} arising on.. RevalLtation of investments 3,667 18,8971 11 Taxatlon The charity is exempt from taxation on ils activities because all its income is applied fof charitable purposes. 12-
THOMAS WHITE COTTAGE HOMES (2016> CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 12 Tangible fixed assets Freehold Fixtures and property ftttings Total Cost or valuation Al 1 January 2023 1,252,030 28,276 1.278.306 At 31 December 2023 1,252,030 26,276 1,278.306 Depreciation and impaimient Al 1 January 2023 Depreei81ion charged in the year 102,130 5.010 7.169 6,084 109,299 11.094 Al 31 December 2023 107.140 13,253 120,393 Carrying amount Al 31 December2023 1,144,890 13,023 1.157,913 Al 31 December 2022 1.149,900 19.107 1,169,007 Included in cost or valuation of land and buildings is freehold land of £250,00012022". £250,0001- Freehold land and buildings were valued on an open market basis on 23 May 2012 by Tim Boffey Sufveyors. The Trustees are not aware of any material change sir¢ce this valuation. Al 31 Deeember 2023. had the revalued assets been caTried at historic cost less auMulated depreciation and accumulaled impairment losses, their carrying amount would have been approximately £S41,77812022'. £644.1601. deeds The Charity's properties are registered al the Land Registry in the name of the Chaiity. The land and trtle deeds contain approxirn8lely 3,215 square yards situated in Bromsgrove, Worcestershire together with charitable homes Nos. 35 to 45 New Road. being the properties comprised in a Deed Poll made by Thomas hile on the 20th April 1886. Historic and now redundant tit]e deeds are retained by the Charity. 13 Debtors 2023 2022 Amounts falling due viithin one year: TTade debtors Other debtors Prepayments and accrued income 24 361 1,977 1,571 2.362 1,579 13-
THOMAS WHITE COTTAGE HOMES {2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Current asset Investments 2023 2022 Unlisted investments 218,132 214.465 Current asset investments consist of 242.855.167 M&G Charity hrtulti-Assg1 Fund shares purchasgd al a cost of £140,749. 15 Loans and overdrafts 2023 2022 Other loans 76,447 Payable after one year 76,447 The long-lerm loan is an inleresl-free unsecured loan wth The Almshouse Association, a registered charity no. 245668. 16 Creditors: amounts falling due within one yaar 2023 2022 Trade creditors Accruals and deferred income 46 5,065 11.155 5,111 11.155 17 Creditors: amounts falling due after more than one year 2023 2022 Borrowings 76.447 14-
THOMAS WHITE COTTAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 18 Unrestricted funds - rovaluatlon rg$ervo These are unrestricted funds which are material to the Charily's aclivilies. At 1 January 2023 Resources expended At31 December 2023 Rgvaluation reserve 505.740 12.6281 503,112 Previous year- At 1 January 2022 Resources expend&d At31 December 2022 Revaluation reserve SO8,8 {2,6281 505,740 19 Restrlcted funds The reslricled funds of the charity comprise the unexpended balances of donations and grants held on Ifust subject to specific conditions by donors as to how they may be used. At 1 January 2023 Incoming resources Resources expended At31 December 2023 Baron Davenport- flat refuibishment LG Harris Trust- flat refurbishment John Bradley Will Trust- fiat refurbishment Grimley Trust- flat refurbishment Andrew Harris Charitable Trust- flat refurbishment Rowlands Trust- double-glazing R&D Tumer Trust- double-glazing GTW Turner- double-glazing 1,899 1.350 18,970 1.000 {1,8991 {1,3501 118,9701 11,0001 4.000 14,000} 12,5001 13,0001 12.0001 2,500 3,000 2.000 27,219 7.500 134,7191 15-
THOMAS WHITE COTTAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 R8strlGted funds Icontlnuedl Previous year- At l January 2022 Incomlng Resources resource$ expended At31 December 2022 Baron Davenport- hand rails Baron Davenport- flat refurbishrnent LG Harris Trust- flat refurblshment Rowlands Trust- flat refurbishment John Bradley Will Trust- flat refurbishment R&D Turner Trust- fl* refurbishment Grimley Trust- flat refurbishment GTW Turner- flat refurbishment Andrew Hairis Charitable Trust- flat refuibishment 6,000 16,0001 18,1011 12,6501 {5.0001 {3,545} 15.0001 {1,0001 {5.0001 10,000 4,000 5.000 22.515 5.000 2.000 5,000 1.899 1.350 18,970 1.000 4,000 4,000 6,000 57,515 {36,2961 27,219 All funds subject to a restricted application were given for the purpose of improvin9 the themal efficiency of the flats by installing double glazed wndows. 20 Unrestricted funds The tjnrestricled funds of the tharity comprise the unexpended balances of donations and grants which are not subject lo specific Conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 January 2023 Incoming resources Resources expended Galns and losses At31 December 2023 General funds 972,919 95,193 1132,3371 3.667 939,442 Previous year: At 1 January 2022 Incomlng Resources r8$ources expended Galns and losses At31 Dg¢ember 2022 General ftjnds 948,107 74.077 (42,368} (6.897) 972,919 18-
THOMAS WHITE COThAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 21 Analysis of net assets between fund$ General Revaluation fund fund Restrfcted ftjnds Totsl Fund balan at 31 Dember 2023 are represented by.. Tangible assets Current a5selsllliabililiesl Long term liabilities 654,801 361,088 176,4471 503,112 1,157,913 361,088 176,4471 939,442 503,112 1,442,554 22 Rèlat party tTansaction5 There were no disclosable related paty transactions during the year12022- none). 17-