WILSON MEMORIAL HOMES Charitable Incorporated Organisation Registered Charity No. 1184260 TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO 31 MAY 2021
WILSON MEMORIAL HOMES Reference and Administrative Inforniatlon Trustees Hilary Holland (Chair) Michael Bames John Brian Hogg Sally Margaret Nelson Leslie Nichol Maureen Granvrlle Beverley Forster (Treasurer) William John Wilson Lionel t)obson Charty Number 1184260 Prlnclpal Address Brampton Communty Centre The lrthing Centre Union Lane Brampton CA8 1BX Independent Examlner Miss A Taylor Amiathwaite Carlisle Bankers Barclays Bank PLC. Rosehill, Carfisle Cumberland Building Society, 19 Front Street, Brampton. CA8 1 NG CCLA. Senator House. 85 Queen Victoria Street, London, EC4V 4 Clerk to the Trustee5 Mrs A Nixon Brampton Community Centre The lrthing Centre Union Lane Brampton CA8 1BX
WILSON MEMORIAL HOMES Contents Trustees, Report Statement of Responsibilibes Independent Examinerfs Report Income and Expenditure Account Balance Sheet 10 Notes to the Financial Statements 11 Schedule of Investments 16
WILSON MEMORIAL HOMES (The Chanty) Trustees, Annual Report The Trustees present their annual port and finanoal statements for each 12 month period ending 31 May2021. The financial statements have been prepared in accordance vAlh the accounting policies as set out in the notes to the financial statements and comply with The Charitys governing document, applicable law and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. (SORP 2016) issued in January 2016. Morn rncent autumn 2019- Charity SORP FRS 102, Update Bulletin 1 and Update Bulletin 2. Structure. Governance and Management The Charity is a Charttable Incorporated Organisation (CIO) vthich VRS established on 4 Juty 2019 and is regulated by a constttution dated S December 2018 (the Constitution). All of the assets of the fomier Wilson Memorial Homes, charity number 224967 were transferred to the Charity on 30 September 2019 which was the dale when the Iwo charibes merged. The Charity is governed by a minimum of 3 and a maximum of 12 Trustees {the Trustees) and Clerk to the Trustees who meet at least four times a year. The Trustees or Clerk to the Trustees visit all of the properties, which form part of Wilson Memorial Homes, on, at least, an annual basis. Trustoes (The Trustees) The Trustees who served during the period vHe: Maureen Granville Michael Bames John Brian Hogg Sally Margaret Nelson Leslie Nichol Hilary Holland Bevedey Forster William John Wi150n Lionel Dobson New Trustees are usually appointed by being recommended by an existing Trustee and fornally approved by a resolution passed at a property convened meeting of the Tnjstees. Objectives and Activltles The Constitution sets out the objects of the Charity which are The provision and maintenance of alms-houses to people of n¢X less than 50 years of age vthh a charitable need for housing, the majority of whom being on low incomes. and Whe preference is given to people who are bom in or are resident in the Parishes of Farlam. Brampton and Walton. The Charity has a policy of improwng all properties to bring them up to a decent home standard and to keep contributions payable by the occupiers at an affordable level. Whenever a propety becomes vacant the policy is to modemise the kitchen and bathroom and bring any other defects up to a good standard, resources permrtting.
Publlc Beneflt The Trustees have revieb%Ed the Charity Commission's guidance on the requirement to report on public benefrt and are satisfied that the Vrk of the Charty provides tangible benefrt to a wide section of people who live in or were bom in the Charty's areas of benefi( the criteria used to assess those who may benefft are not unreasonably restrictive. Achievements and Perfomiance In this period the Trustees and Clerk continued their policy of Visiting residents as required to help carry out repairs or upgrades as necessary. Unfortunatety due to the Covid-19 pandemic some areas of building work have been delayed. Refurbishments were completed (in August 2020) at two vacant properties (No. 6 Mitton & No. 6 Waf(on) and these properties were then re-let. Refurbishments generally include new unvented water systems, new kf(chens and bathrooms, and new central heating systems and decoration. rf required. General repairs continued to be Carried out to many of the properties, and upgrades whenever possible. Four properties at the Sands, Bramplon. had full gas ntral heating systems installed betsveen September and December 2020, part funded through the Cty Council's govemmenl funded Home Lrfe project. A planned programme of re-roofing six properbes at WaOn (Phase 5) ComMend in May 2021 at the end of this current finanaal period. Financial Revlew All residents pay a standard Weekty maintenan Conlribuknon (WMC) which is below the fair rent set by the Valuation Offi. The WMC is reviewed annually, usually in January and as a result a 2.5 1¢ increase was applied for 202(>21. effective from 1 June 2020. This ensures that significant improvement works can be carried OLrt and enables the Charity to provide adequate housing provision for future generations. Investrnent Poll¢y The Trustees hold £44,200 in CCLA COIF funds of wthich £9.500 is an Endowment Fund. Reserves Pollcy The Trustees follow The Almshouse Associalion's recommended minimum amounts for transfer to the Extraordinary Repairs Fund (ERF) and the Cyclical Maintenance Fund {CMF) both being designated funds. The Almshouse Association also recommends allocating an annual sum to routine maintenance but the Trustees do not consbder it to be necessary to establish this additional fund. It is also recognised that it is necessary to have sufficient funds in reserve to cover day to day expenditure especially in the evenl that there is a reduction in weekly maintenance charge followng the departure of residenls and before new residents are appointed. A free reserve of £211,993.48 is thought to be sufficient for this purpose. This being the amount of the net current assets less those funds allocated for designated purposes (ERF. CMFI and the endowmenl funds vthich cannot be accessed.
Almshouse Association recommended amount to transler to designated fvnds Over 20 years old pÈr unit Extw)rdinary Repairs Fund Cyclical Maintenance FurKI Recommended amount 2021 Prop•rti•$ (£) pery•ar £508 £37,395 £60.255 Extraordinary Repa"rs Fund.. ErrErCleS. major rÈpairs of llers, arky roof rewrs. Cyclical MaIntanCe FuThJ.' Planrftl maintWare. reffijthshmwrt on ancy. kitCS. bathrcoms & intwor & exteri Cat1C. In this period £60,255 was transferred to the ERF and CMF (notes 12 and 13). Rlsk Factors The Trustees have examined the risks *fiich The Charity fa8 and confinn that intemal systems. policies and procedures have been established to enable the Charity to function effectively. The status of the Chanty as a CIO mitigates the risk to individual twstees. Plans for the Future The Trustees are required to undertake a survey of the properties at least every five years. known as the Quinquennial Inspection to ensu that The Trustees are acting in accordan wth their govemance arraroements, they are fulfilling their stewardship role and also to ensure they are safeguarding the properties and not putiing them at risk of negtht. Following the inspection in 2012-13 the Trustees continue to organise and fund vnrks identrfied to bring properties up to a satisfactory level and future proofing for the nexl generations. The Trustees have sought quotes to carry out the next Quinquennial inspection from local building surveyors, however due to the Covid-19 pandemic and the safety implications of the elderly residentslbeneficiaries. these inspections have teen postponed y11 hopefulty be carried out during 2021 when it is safer to do so. The WMC is reviewed annually wtth the funds being reinvested into the housing stock to ensure that The Charrty continues to provide adequate housing provision for future generations. All residents pay a WMC below the fair rent set by the Valuation Office. The WMC was reviewed in January 2020 and as a resutt a 2.5% increase vras applEd for 202(21. Full re-roofiro of six properties (Phase 5) at WaOn commenced (May 2021) at the end of this financial period, this will complete the process of re-roofing all the properties that have clay tiled roofs. The Trustees are considering a prograrnme of replacing the windows at all properties as necessary. Plans to refurbish the derelict propeTty (No. 4 Station Road Ends) continue. A loan from The Almshouse Association has been approved to help fund this project. The building work is expected to commence autumn 2021.
WILSON MEMORIAL HOMES Statement of Responsibilities The Trustees are responsible for pparing the Trustees. Annual Report and the financial statements in accordan wf(h the applicable law and United Kingdom Accounting Standards (United Kingdom General Apted Accounting Practi). The law applicable to charf(ies in England and WaS requires The Trustees to prepare financial statements for each financial year which gNe a true and fair vW of the state of affairs of The Charity and of the incoming resources and applica'on of resources of The Charity for that period. In preparing these financial statements. The Trustees are required to: Select suitable accounting policies and then appty them consistently.. Observe the methods and principles in the Charilies SORP: Make judgements and estirnales that are reasonable and prudent: State whether applicable accounting standards have been followed, subject to any material departures being disclosed and explained in the financial statements- Prepare the financial statements on the going concem basis unless it inappropriate to presume that The Charty wll continue in operation. The Trustees are responsib for keeping adequate accounting records vthich disclose vath accuracy the financial position of The Charty and enable them to ensure that the financial statements comply vthh Accounting and Reporting by chantS, ISORP 20161 issued in January 2016. {Charity SORP FRS 102. Update Bulletin 1 and Update Bulletin 21. They are also responsible for safeguarding the assets of The Charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees therefore rtfy that In so far as V are aware there ts no relevant audit information of which The Chartws independent examiner is unaware,. and We have taken all reasonable steps that we ought to have taken to make ourselves aware of any relevant audit infomation and to establish that the independent examiner is aware of that infoThation. On behalF of the Board of Trustees Chairman- ilary Holland Dated: - rrithrok
ACCOUNTS OF THE LSoN MEMORIAL HOMES 1 June 2020 to 31 May 2021 Indendent Examinerf$ r•port to Trustees of the Wilson PAomoTial Homes I report lo the trustees on my eXaMinan of the th1nts ofthe Wilson Memorial Homes {Charity Commission No.11842601 from 1 June 2020 to 31 May 2021. Respectlve rnsponsibtlities of the Trnstees and the Independent Examiner The Truste AcGOUnti Bulletin 21. The Cha ndRe are res nsible for th rati)n of the acc in accordance with th8 b Chaities SORP 2016 _ (Charity SORP FRS 102, Update Bulletin 1 and Update The Truslees consider that an audtt ts nol required for Ihi5 year under section 144 of tho Charities Act 2011 (the Act'l and tha an independent examination is needed. It is my responsibilty lo.. examine thg accounts under s&tion 144 of the kt, follow the applicable Directions g¢ven by the Charty Commission (under SeCtn 145{5llbl of the A¢t), and state whether particular matters havg lo my attentN)n. Basis of Independent Examingrfs ststement My examination was carried out in accordance wilh general Dir&tion5 given by the Charty Commission. An examination includes a rewew of the accounting records kept by The Chartty and a wnparison of the accounts presented with those records. It also includes conSideratn of any unusual r(ems or disclosures in the accounts and seeking explanations from The Trustees con¢eming any such matters. The prLxedures 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 fairf wew and the report is limlied to those matters set out in the statement low. Independent Examinees $tat•m•nt In connection with my examination, no material matters have come to my attent)n in connection wrth tho examination giving me cause to beIve that in any matsn.al Tesped.. accounting records were not kept in accordance th section 130 of Ad; the accounts did not accord with those red$., or the accounts did not ¢Ornp with the applicable requirements con¢eming the fomi and conlenl of accounts set out in the Charities {Accounls and Reports) Regulath)ns 2IxJ8 other than any requirement that the accounts give a 'lruè and f04r which is not a m8tter cOnsered as part of an indeFendent examinat•Jn. I have no concerns and have come across no other matters in COnnectn wi(h the examination to which attention should be drawn in this report in cKder lo enable a proper undetslanding of the accounts to be reached. Mi95 A Taylor 7p171L
WILSON MEMORIAL HOMES Statement of Financlal Actlvltles- Income and Expenditure Account 1 June 2020- 31 May 2021 Notes Unrestricted Dey8rtated DeFA8nated Endowment fund5 ERF fvnds CMF fund5 funds Total 2021 IncomlnK Resou5 Incoffllng Resour$ 192.131.04 192J31J>4 0.00 OJJO Ono 192.131.04 Om 192.131A)4 oj Operatln8¢o5ts Runnin8COSts & Maintenance Governance Costs 25.93220 28,987.17 5431937 510.00 54A92nO 0.00 0.00 SI0 54A92 80.934.20 28,987.17 OJXI 10932137 Operatkn¥Surplusl (Del) 137211&7 ISIOJXII I54A92? OJ)0 82209.67 Rec0Tr7nded AJrr6hou5etransfer 12 16025S.001 Prior period adjUStnt Galns on inve5trnentassets 22360.00 0.00 37.395A>O 0.00 offjo 0.00 0.00 0.00 OA rplusl IDelldklfor ihe al 76356A7 22350m 117097A)01 DJJO 82209.67 Fund May 2020 Surplus/lDeficitl for year 135.036AI 114026371 28.40520 76.956.67 22.350fj0 117.097J)01 9.5¢YJ.00 158,115.64 0.00 82.299.67 Fund Bantts31 May 2021 211993A8 723th3 1130820 9(110 24032531 The Charity has not acquired or discontinued any fundamental actrvits8s during the al)ove two financial years. therefore all of the aGtivities are deemed as continuing.
LSON MEMORIAL HOMES 8alance Sheet as at 31 May 2021 2021 2020 Fixod Assets FUtiona rxcwtie5 44,2{KI. 44,21X).(x) 44.201.00 44.201.IX> Curront Assets Cash at Bank aKI in h 1W2.051.39 5,(r24.10 197,075.49 112.099.34 2,929.51 115.028.85 Credltorn: Amgunts fallkng du• whin one y 10 {951.18) (1.114.211 N•t Current Assets 196.124.31 113 914.64 Total A•¥ets Less Curr•nt Liabli li 240.325.31 158.115.64 Capital and Resep•s CatMt21 Fund- EnduArnt Futx hlcome Funds: Design*d FurKIs. ERF Designated FuThJs. C Lknre5tricted FL 11 9.5)J.C 9.5C().00 12 13 7.523.63 11,)8.20 211,933.48 114.¥26.371 28,405.20 135,036.81 240,32S.31 158.115.64 Only comparator fvJures for 2019-20 are shown on the balan sheet as the proceeding period was onty for 8 months and Iherefore ffleaningfvl comparisons nn0t be made. The financial statements were approved by The Trustee5 and WEre sKJned on behalf of The Charity by the Chaiman: Chaimian.. Mrs Hilary Holland Date.. 10
WILSON MEMORIAL HOMES Notes to the Financlal Statements For th• year ended 31 May 2021 LEGISLATIVE PROVISIONS The Charity is a Charitable Incorporated Organisation {CIO) which was estsblished on 4 July 2019 and is regulated by the Constitution. ACCOUNTING POLICIES These accounts have been prepared in accordance applicable accounting standards. the statement of Recommended Practice, Accounting and Reporting by Charities, Charity SORP FRS 102, Update Bulletin 1 & Update Bulletin 2. and the Chariiies Act 2016. Accountin Convention The accounts are prepared under the historic cost convention, modified to include the revaluation of investments in accordan with applicable aCUnting standards and recommended practice. Incomin Resources Contributions from the Residents are aOUnted for when recervable and are added to the Unrestricted Fund. Investment Income is accounted for on the receivable dates and added to the relevant fund in vthich the investment is held. Costs All expenditure has been recognised in the financial statements on an accruals basis. Functional Pro rties The functional properties are included on the balan sheet at a nominal value of £1. The ourrent insurance value of these properties is detailed on page 13 of these statements. The properties wtthin The Charity fonned part of the original Pemianent Endowment of the Charity and under the terms of Ihe Charty Commission scheme dated 4th May 1984. they must be used as alms-houses. The properties are therefore considered to be inalienable. The Trustees also considered that no reliable cost infomiation was available and that a significanl cost would be incurred in having the functional properties valued and that this would be onerous compared with the additional benefft derived by users of the ststements in assessing the Trustees, stewardship of the assets. Therefore the market value of the assets is reflected in the balan sheet al £1. Investments The quoted investments are valued at market value. vthere applicable. Gains and losses relating to investments are shown on Page 13.
INCOMING RESOURCES Unreicted funds D•gnated funds cCtributIOnS from residont$ Interest Donattons, Irtsurae Cl8im$ 191.872.LY) 139.04 120.(M) 192.131.04 191.872.CQ 139.04 120.00 192.131.04 OPERATING COSTS Lhw•$tri¢l•d De8ignat¢d D38lwated ¢F1 Total 2021 Oporalng Co#ts Running Costs & AIAintsn8nca )%emance Costs 25,93220 28.987.17 54,91937 510.00 0.00 $10.00 54.492.00 80.93420 28,987.17 109,921 a7 54A92.00 Inning Costs & MaInterAr¥ General Repair & VAintènance Impro¥ements ter Rat8s CounrAI T8X Insurance 21.725.53 0.00 510.00 0.00 0.00 0.00 0.00 0.00 0.00 54.492.00 0.00 0.00 0.00 0.00 0.00 0.00 54,492.00 21.725.53 55.002.00 0.00 0.00 3.625.81 112.50 83.36 385.00 80.93420 0.00 3.625.81 112.50 83.36 385.00 25,932.20 NnLRO Bank Charge8 Plmshousè subscpti0n 610.00 rna• Costs Salaries & Costs Trustees •155uran Independent EMiner Office Eynses Legal & Professional Fees 23,804.78 380.80 200.00 4.601.59 0.00 0.00 0.00 0.00 0.00 o_oo 0.00 0.00 o.oo 0.00 0.00 23,804.78 380.80 200.00 4,601.59 0.00 28,987.17 0.00 0.00 28.987.17 12
- TRUSTEES None of The Trustees received any remuneratK>n during the period.
- EMPLOYEES There were tsvo employees during the period. the Clerk and an administrative assistant.
- FUNCTIONAL PROPERTIES N•t BcK)k Valua (an<1 valua> at 31 M•y InBuranoo V*lu• 3.18Q.097 3.02E•.557 ess.258 601.1579 . Lana •t wa0 kna a on to 1ho Vr4 801.579 . Land at BrarYyty>n (statlon F¥oad En0> frontag• on 4.g50.462 4.702.80
- INVESTMENTS 2021 2020 fut funds Orket Value Beginning of FericAYIy Acquisitions at cost Cliange in in pen"otyear End of year Transferred to CIO- See page 16 FSstorsc Cost B8ginnirvJ of wiod End of kwicxl 14.M).27 48.070.68 62.460.95 .e61.81 2.327.73 16.71&r 3,939 42 52.010.10 6,267.15 68.728.10 1.799.14 62.460.95 9.499.(M) 9.499. 34,701.rx) 34.701. 44,0.cl 44.2CNJ.c() 44.200.(M) 44.2.tsj 13
DEBTORS 2021 Weekly mainten Ctri1xJtKTh IWMC} 5.024.10 5,024.10 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2.CO Buikler - CNF Work 151.18 951.18 11. ENDOWMENT FUNDS 2021 Balance at 1 1n@ Mownent in fvnds.. Prior tri1 *lju5trnent GainsllLcssesl Commission Balance at 31 May 9.SC(). 9.$00.00 The Endonent Fund reprvaents those assets vthich musl be held pernanently by the Charity. Income arising on the assets held in this fund can be used in accordance Vth the objectives of The Charty and is included as unrestri¢Xed income. 14
12. ExfRAORDINARY REPAIRS FUND 2021 Balance at 1 June Transfer tr] Utricted FurKIs Less ERF ExperKliture Balan at 31 May {14,826.371 22.860.00 510.IX) 7.523.63 Extraordinary Repair Fund IERFI This is a designated reserve fund for future maicy repairs. Transfers are made to it f the Income and Expenditure Account in accordance wrth the recc4nmendations of The Almshouse Asscckqlion. 13. CYCLICAL MAINTENANCE FUND 2021 Balae at 1 June Transfer from Unrestricted Fufftls Less CMF ExpeThJiture 8alanc• at 31 May 28,405.20 37.395. 11.308.20 Cycllcal Maintgnance Fund ICMFI This is a designated reserve fund for maintenarKe LUrring at regular intervals. Transfers are made to it from the Income and expenditure account in accordantE the I¢MendatIonS of the Almshouse Association. 14. ANALYSIS OF NET ASSEfs BETWEEN FUNDS Unrestricted Deswnated Endo1 funds funds funds Total 2021 Total 2020 Fti)l Prcferties Inknts C(JF lthest FurKI C(JF InNeStr FUNI 17,th1.cN) 17.351. 34.701.¢XI 17,350.C¥J 17,350.c¥J 9.WJ.(M) 26.89).CrfJ 28.850.(XI g.XQ.¢X) 44,201.¢)) 44,201.1 Cash at tonk 173.219.&8 5.024.10 1951.181 211.993.48 18.831.83 O.CQ 1.051.39 112,099.34 5,024.10 2,929.51 {951.181 11.114.211 9.5.(1 240.325.31' 158.115.64 11831.83 UnrealseA gans I&¥J>j aton: gainsllbssasl rvAbJaions Unrestricted funds comprise those funds which the Trustees are free to use in accordance wth The Charity's objectives. Designated fvnds are the ERF and the CMF whose purpose is defined by The Trustees. 15