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2023-05-31-accounts

WILSON MEMORIAL HOMES Charitable Incorporated Organisation Registered Charity No. 1184260 TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO 31 MAY 2023

WILSON MEMORIAL HOMES Reference and Administrative Information Trustees Hilary Holland (Chairman) Michael Bames Lionel Dobson - resigned 7th November 2022 Beverley Forster (Treasurer) - resigned May 2023 Maureen Granville John Brian Hogg Sally Margaret Nelson Peter Sedgwick William John Wilson Charity Number 1184260 Principal Address Brampton Communty Centre The lrthing Centre Union Lane Brampton CA8 1BX Independent Examiner Miss A Taylor Amiathwatte Carlisle Bankers Barclays Bank PLC, Rosehill, Carlisle Cumbertand Building Society, 19 Front Street, Brampton, CA8 1 NG CCLA, Senator House, 85 Queen Victoria Street, London. EC4V 4ET Clerk to the Trustees Mrs A Nixon Wilson Memorial Homes office 1 Brampton Community Centre The lrthing Centre Union Lane Brampton CA8 1BX

WILSON MEMORIAL HOMES Contents Pa Trustees. Report Statement of Responsibilities Independent Examinerfs Report Income and Expenditure Account 10 Balan￿ Sheet 11 Notes to the Financial Statements 12-16 Schedule of Investrnents 17

WILSON MEMORIAL HOMES ffhe Charity) Trustees, Annual Report The Trustees present their annual report and financial statements for each 124nonth period ending 31 May. This report is for the period 1* June 2022 to 31 May 2023. The financial statements have been prepared in accordan￿ wilh the accounting policies as set out in the notes to the financial statements and comply with The Charity's governing document, applicable law and the requirements of the Statement of Recommended Practice. Accounting and Reporting by Charities. (SORP 20161 issued in January 2016, and more recent auiumn 2019- Charity SORP FRS 102, Update Bulletin 1 and 2. Structure, Governance and Management Th8 Charity is a Charitable Incorporated Organisation (CIO} which was estsblished on 4 July 2019 and is regulated by a constitution dated 5 December 2018 (the Constitution). All of the assets of the fomer Wlson Memorial Homes. charity number 224967 were transferred to the Charity on 30 September 2019 which was the date when the two charities merged. The Charity is govemed by a minimum of 3 and a maximum of 12 Trustees (the Trustees) and a Clerk to the Trustees who meet at least four times a year. The Trustees or the Clerk usually vistt all of the properties. which fonn part of Wilson Memorial Homes, on, at least. an annual basis. Many of the properties were visited by the Clerk during the year, and also by a surveyor preparing the Charity's quinquennial report. The Annual Trustee Visrts to meet the residents V￿re not carried out in this period. Trustees The Trustees The Trustees who served during the period were: Michael Bames Lion81 Dobson (to 7th November 2022) Beverley Forster (to 5th May 2023) Maureen Granville John Brian Hogg Hilary Holland Sally Margaret Nelson Peter Sedgwick Iliam John Wilson New Trustees are usually appointed by being recommended by an existing Trustee and fom)ally approved by a resolution passed at a properfy convened meeting of the Trustees. During this period Lionel Dobson and Beverfey Forster resigned as trustees.

Public benefit The Trustees have reviewed the Charty Commission's guidan￿ on the requirement to report on public benefit and are satisfied that the work of the Chanty provides tangible benefit to a wide section of Feople who live in or were bom in the Chanty's areas of benefrt. Th8 Criteria used to assess those who may benefft a￿ not unreasonably restrictive. Objectives The Constitution sets OLrt the objects of the Chaiity which are 'The provision and Maintenan￿ of alms-houses to people of not less than 50 years of age wrth a charitable need for housing, the majorty of whom being on low incomes, and where preference is given to people who are bom in or are resident in the Parishes of Fadam. Brampton and Wallon.. Activities, maintenance and rnpairs The Charrty has a policy of improving all properties to bring them up to a decent home standard and to keep contributions payable by the occupiers at an affordable lev81. Whenever a property becomes vacant the policy is, where necessary, to modernise the kitchen and bathroom and deal with any other defects. resources pennitting. cific works carried out durin this 4 Station Road Ends - RefurbishmenULoanlGrant Following the complete renovation of this derelict property in July 2022, the Trustees approved and secured The Almshouse Association's interest free loan offer of £25,000 with a £1,250 arrangement fee, and to be repaid over 10 years. The loan of £25,000 was received in June 2022 with repayments commencing in December 2022, and every six months thereafter of £1,312.50. A small grant was also obtained from the local Council's Empty Property Department of £3,000, this was received in September 2022. 2 Wallon - Refurbishment This property became vacant in September 2021 and a new specffication for a full refurbishment was approved. A local ¢orrtractor completed the renovation work in June 2023 where a new aIr-sour￿ heat exchange unil, undeffloor heating and fully insulated floors and walls were fitted. A new resident occupied the property from July 2023. uin uennial Surve Following the building surveyors report and recommendations re￿iVed in January 2022 the Trustees agreed to upgrade the properties wrth new UPVC windows and doors as soon as finan￿$ were available. In September 2022 ￿e1ve homes in the outlying villages were fitted with new windovts and doors throughout, this greatly benefitted the residents. Further works will continue when funding is available, however, priority has been given to vacant properties where major renovation work was required. Re-Roofin 1 &2 Thomlinson Cotta es The Sands Bram on Re-roofing was recommended in the quinquennial survey for two of the larger cottages, this was completed in May 2023.

Financial Review All residents pay a Weekly maintenan￿ Contribution WC} which is below the fair rent set by the Valuation Offi￿. The WMC is reviewed annually. and as a result a £2 increase was applied to all ￿0￿bedrOOM houses and effecttve from 1 June 2022. No increase was applied to the one-bedroom properties in Brampton. This meant that the WMC for two- bedroom properties in Brampton was increased from £89-£91, one-bedroom properties in Brampton remained at £89 and the VWC for village properties increased from £79-£81. This ensures that signrficant improvement works can be carried out and enables the Charity to provide adequate housing provision for future generations. Investment Policy The Trustees hold £44,200 in CCLA COIF funds of which £9.499 is an Endowment Fund. Reserves Policy The Trustees follow The Almshouse Association'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 roLrtine maintenance but the Trustees do not consider it to be ne￿SSary to establish this additional fund. It is also recognised that it is ne￿SSary to have sufficient funds in reserve to cover day to day expenditure especially in the event that there is a reduction in the WMC following the departure of residents and before new residents are appointed. A free reserve of £114,221.37 is thought to be sufficient for this purpose. This being the amount ofthe net Gurrent assets less those funds allocated for designated purposes (ERF, CMF) and the endowment funds which cannot be accessed.

The Almshouse Asgxiation recommended amount to tran*r to designated funds Over 20 years old por unlt Extraordinary Repair3 Fund Cyclical Maintenance Fund Recommended amount 2023 Properties {£) per year £614 £1.LKJ4 £27.630 £45,180 £71810 Extr￿Inary Repai￿ FurKI: Emerge￿ie$, Mai￿ repaiTr of trxylers. W7￿1￿v6 and r(M)f repairs. Cyclical Maintenance Furbd: Planned maintenance. refurbishment on ￿ancy. kitchens, bathrooms & interior & exterior decoration. In this period the recommended sum of £45.180 was transferred to the CMF (note 14). The Trustees agreed to transfer a total of £153,239.16 to the ERF (note 13) to meet the ost of the ERF works that were carried out during this peri¢xl, and including the recommended sum. Risk Factors The Trustees have examined the risks which the Charity fa￿$ and confirm that int8mal systems, policies and procedures have been established to enable the Charity to function effectively. The status of the Charity as a CIO mttigates the risk to individual trustees. Plans for the Future The recommendations made in the quinquennial report will be considered and, as finances allow, implernented over time. As a priority consideration will be given to the continuing programme of replacing the windovts in all of the properties. The Weekly Maintenance ContribLrtion (VWC) is reviewed annually with the funds being reinvested into the housing stock to ensure that The Charity continues to provide adequate housing provision for future generations. Al residents pay a WMC below the fair rent set by the Valuation Office. The standard WMC was reviewed in March 2023 effective from 1 June 2023 and where a £2 increase was applied lo all the homes.

WILSON MEMORIAL HOMES Statsment of Responsibilities The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordan￿ with the applicable law and United Kingdom Accounting Standards {United Kingdom General Accepted Accounting Practice). The law applicable to charities in England and Wales requires The Trustees to prepare financial statements for each financial year vthich give a true and fair view of the state of affairs of The Charity and of the incoming resources and application of resources of The Charity for that peri(>J. In preparing these finanaal statements, The Trustees are required to.. Sele¢t suitable accounting policies and then apply them consistently" Observe the methods and principles in the Charities SORP.. Make judgements and estimates 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 is inappropriate to presume that Th8 Charity will continue in operation. The Trustees are responsible for keeping adequate accounting records which disclose with accuracy the financial position of The Chartty and enable them to ensure that the financial statements comply with Accounting and Reporting by Charities, {SORP 2016) issued in January 2016. (Charity SORP FRS 102, Update Bulletin 1 and Update Bulletin 2). 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 i￿egUlarities. The Trustees therefore ￿rtrfY that: In so far as we are aware there is no relevant audit information of which The Charity's independent examiner is unaware". and We have taken all reasonable steps that we ought to have taken to make ourselves aware of any relevant audtl infomation and to establish that the independent examiner is aware of that infom)ation. On behalf of the Board of Trustees Chair.. Mrs Hilary Holland Dated: I q- Fob 0% .

ACCOUNTS OF THE WILSON MEMORIAL HOMES 1 June 2022 to 31 May 2023 Independent Examlnevs rgport to Tnwtees of the ￿lSOn Memorfal Homes I report to the trustees on my examination of the acGounts of the IML%on Memorial Homes (Charity Commission No.11842601 from l June 2022 to 31 May 2023. Respective responslbllhlos of the Tn￿tee8 and tho Independent Examlner The Trustees of The Cha are res nsibl for the re aration ofthe aceoun ordance with the Accountin and Re b Chanties SORP 2016 . (Charity SORP FRS 102. Update Bulletin 1 and Update Bulletin 2). The Trustees cOns￿er that an audit is not required for thi5 year under section 144 of the Charities Act 20111'the Act'l and that an independent examination is needed. It is my responsibilty to.. examine the accounts under section 144 of the A¢L follow the applicable Directions gNen by the Charity Commission {under secb.on 145{5llb} of the Act}, and stale whether particular matters have ￿rne lo my attention. Basis of Independent Examlne¢$ statement My examination was carried out in accordance with general Directions gwen by the Charity Commission. An examination includes a review of the accounts.ng records kept by The Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or dI￿10S￿reS in the accounts and seeking explanations from The Trustees concerning any such matters. The pr¢)cedures ursdertaken do not provide all the evidence that would be required in an audit and consequentty no opinion is given as to whether the accounts p￿sent a 'tnJe and fairf view and the report is limited to those matters sel out in the statement below. Indopendent Examinerfs statement In connection with my examination, no material matters have come lo my attention in connection with the examination giving me cause to beI￿ve that in any material respect.. accounting records were not kept in a￿ordanCe with seth.on 130 of the Acl. or the accounts did not accord with those records.. or the accounts did not comply with the applicable requirements concerning the form and Content of accounts set out in the Charibes IAc¢ounls and Reports) Regulab"ons 2008 other than any requirement that the accounts give a 'true and fair vsev/ which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to which attention shoukl be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Signed: Date:

WILSON MEMORIAL HOMES Statement of Financial Activities - Income and Expenditure Account 1 June 2022- 31 May 2023 Notes Unre5trirted fund5 Designated ERF fvnd5 De￿gnated Endowment CMF fvllds fvnd5 Total 2023 Total 2022 knwmlng Resour￿$ Incomin8 Aeseuices 199.112.64 199A12fj4 ox 199.112.64 199,112 189.631.84 189.631S4 oJ)o Operatln8Costs Runnln8 costs & MalnL Governanc@Costs 33242.85 32.59831 654116 153239.16 om 153239.16 3￿0D.00 19Q.282.01 185,593.52 32.598.31 34,366.38 222J80.12 219.959.90 Operatlr¥5urplus1 ID•ttd¢l 133271A8 11532J9A61 oj 123.767MI 130J28I161 Recomm￿ded AAtransfer reed ERF trartsftr Galns on investsrthtassets 13114 I72￿10.{m)I 1125.609.161 27.630.(J) 125.609.16 45,180LKI om 0.00 0.00 0.00 0.00 0.00 Su￿u5/ (Delldtl fort￿ yr. 165.147MI OA)0 41J80JJQ Om" 123.767ffj81 IJOJ28.061 Mo¥effl¢nt on Pseryes Fund Balanr•$31 Ma¥20ZZ SurplusllDeficlt> for yeat 179.369.05 165.147.681 21,128.20 41380.00 209.997.25 240.32S.31 123.767.681 130.328.061 om Fund BIlan￿53111IaY 2021 11432137 oJ)o SI￿0810 9￿1￿* 18622957 209,99725 The Charity has not acquired or discontin￿ any fundamental activities during the above financial year- therefore, all of the activiiies are deemed as continuing. 10

WILSON MEMORIAL HOMES Balance Sheet as at 31 May 2023 Notos 2023 2022 Fixed Assets Functional woperties In￿tMentS 44,200.00 44.201.00 44,200.00 44,201.00 Current Assets Cash at 8ank and in hand Debtors 165,183.89 2,508.78 167,692.67 165,220.94 1,588 84 166.809.78 Current Liabi1Stle8 Creditors Loans repayable within 12 rnonths 10 11 (726.601 12.625.001 13.351.60) (1,013.53) 0.00 (1.013.53) Net Current knets 164,341.07 165.796.25 Long Temi Liabi1Stle8 Loans repayable (22,312.50) 0.00 Totsl Less Liabilitifjs 186.229.57 209,997.25 Capital and Reserves Capf(al Fund - Endr)4￿￿ent FurKIs Incorne Fund& Csignated Funds - ERF Esignated Funds - CMF Unrestricted Funds 12 9.500.00 9.5￿.00 13 14 0.00 62,508 20 114.221.37 0.00 21.128.20 179.369.05 186,229.57 209.997.25 The financial statements were approved by The Trustees and were signed on behalf of The Charit b the Chaiman: Chair.. Mrs Hilary Holland Date: Iq- FJ4 '&UJ-4

WILSON MEMORIAL HOMES Notss to the Financial Ststements For the year ended 31 May 2023 LEGISLATIVE PROVISIONS The Charity is a Charitable Incorporated Organisation {CIO) which was established on 4 July 2019 and is regulated by the Constitution. ACCOUNTING POLICIES These accounts have been prepared in accordance with 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 Charities Act 2016. Accountin Convention The accounts are prepared under the historic cost convention, modified to include the revaluation of investments in accordance with applicable accounting standards and recommended practice. Incomin ReSoUr￿S Contributions from the Residents are accounted for when receivable and are added to the Unrestricted Fund. Investment Income is accounted for on the re￿1vable dates and added to the relevant fund in which the investment is held. ratin Costs l expenditure has been rer&ognised in the financial statements on an accruals basis. Function I Pro rties The functional pioperties are included on the balance sheet at a nominal value of £1. The current Insuran￿ value of these properb.es is detailed at Note 7 of these statements. The properties Within The Chaiity fomed part of the original Permanent Endowment of the Charity and under the terms of the Chanty Commission scheme dated 4 May 1984, they must be used as alms-houses. The properties are therefore considered to be inalienable. Therefore, the market value of the properties is reflected in the balance sheet at £1. Investments The quoted investments are valued at market value. where applicable. Gains and losses relating to investments are shown at Note 8. 12

INCOMING RESOURCES Unrestricted De5igrLatsd funtts funds Total 2023 Total 2022 Contributions ftL)m residents Interest c￿natIons. Ins. Claims. Grants 195.307.54 707.60 3.097.50 199.11164 195.307.54 707.60 3.097.50 199.112.64 189.397.1)0 122.34 112.50 189.631.84 OPERATING COSTS Unrestricted Designated Deslgnated funds ERF funds CMF funds Total 2023 Total 2022 Operatlng Co*s Running Costs & maintenar￿e Gthemance Costs 33.242.85 153.239.16 3.800. 32,598.31 0.00" 65,841.16 153,239.16 3,81￿.00 190,282.01 185,593.52 32,598.31 34,366.38 222,880.32 219,959.90 Running Costs & MaintenarbGe General Repair & Maintenance ImproKements Water Rate¥ Council Tax Insurance LRO Bank Charges Almshouse Subscription 26.240.33 o.c() 153.239.16 3.800.(KJ 26,240.33 29,747.86 157,039.16 151,091.cN) 0.00 0.00 0.00 5.126_42 4.147.73 97.50 112.50 1,355.60 95.43 423.1]0 399.00 190.282.01 186.693.52 0.00 5.126 42 0.00 97.50 0.00 1.355.60 o.oo 423. 0.00 33.24185 1S3.239.16 3.800.00 Governance Costs Salaries & Costs Twstees Assurance Independent Examiner Office Ex[￿seS al & Protsssional Fees 26.405.05 380.80 26.405.05 26.299.97 380.80 380.80 300.LN) 200.00 5,422.46 6.951.61 534.00 5,422.46 32.598.31 32,598.31 34.366.38 13

  1. TRUSTEES None of The Trustees received any remunerats'on during the period.
  2. EMPLOYEES There were I￿0 employees during the period. the Clerk and an administrative assistant.
  3. FUNCTIONAL PROPERTIES 2023 2022 Net Book Value {and Nominal value) at 31 May Insurance Value A. Land at Brampton having a frontsge on to the road from Bramplon to Alston together with the ￿Venty-SeVen cottages erected thereon and known as Wlson Men￿rial Homes, 4,505,850 4,275,000 B. Land at Milton having a fron12ge on to the road from Milton to Hallbankgale together with the six cottages erected thereon and kn¢)wn as 'Wlson Memorial Hon￿s. 980,220 930.000 C. Land at Walton having a frontsge on to the road from Wallon to Nickies Hill together with the six cottages erected thereon and known as 'Wlson Memorial Homes. D. Land at Brampton {Station Road Endl having a frontage on to the road from Brampton to Milton tcgether with the six cottages erected thereon and known as 'The Joseph Wlson Homes, 969,680 920,000 906,440 860.000 7,632,190 6.985.000
  4. INVESTMENTS Endowment Investment funds funds 2023 2022 Markel Value Beginning of periodlyear Acquisitions at cost Change in value in perKtyr End of year 17,341.86 0.00 402.57 768.20 1,170.77 17,744.23 52.105.79 69,850.02 51,337.59 68,679.25 68,728.10 0.00 48.85 68,679.25 Hisloric Cost Beginning of period End of period 9,499.00 34,701.00 44,200.00 9,499.00 34,701.00 44,200.00 44,200.00 44,200.00 14

DEBTORS 2023 2022 Weekty Maintenance Contributions IWMCI 2.508.78 2.608.78 1,588.84 1.fA8.84 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Independent Examiner E&M SeThices Nes1 Pension CcffrtrityJtions 41X).00 462.00 151.53 1.013.53 226 60 726.60 ALMSHOUSE LOAN 2023 2022 Balance at 1 June Loan receiKed Arrangement fee Repayments 0.00 0.00 25.OCK).00 1,250.00 (1.312.50) 24.937.$0 Llabilities Repayable bMthin 12 nvMth5 Repayable after 12 rrthths 2,626.00 22.312.50 12. ENDOWMENT FUNDS 2023 2022 Balance at 1 June Moment in funds" Prior period adjustment GainsIlLoss￿I on Aquistions/DisFJsals Commission receiKed Balance at 31 May 9.5CQ. 9.51KJ.00 0.00 0.00 0.00 9,500.00 0.00 9.51x1.00 The Endowment Fund represents those assets which must be held permanently by the Charity. Income arising on the assets held in this fund Gan be used in accordance with the objectives of The Charity and is included as unrestricted income. 15

  1. EXTRAORDINARY REPAIRS FUND 2023 2022 Balance at 1 June R8comm8nded AA transfer Agreed additional ERF transÈr Less ERF ExFeTrJiture Balance at 31 May 7.523 63 23,895.00 101,322_37 132,741.00 27,630.CNJ 125.609.16 153,239.16 Extraordinary Repair Fund (ERF This is a designated reserve fund for future major repairs. Transfers are made to it from the Income and Expenditure Account in accordance with the recommendations of The Almshouse Association. This year the trustees agreed to transfer an extra £125,609.16.
  2. CYCLICAL MAINTENANCE FUND 2023 2022 Balance at 1 June Transfer from Unrestricted Funds Less CMF Expenditure Balance at 31 May 21,128 20 45.180.00 3.800.(NJ 62.508.20 11,308.20 28,170.00 18,350.00 21.128.20 Cycllcal Maintenance Fund (CMF) This is a designated reserve fund for rna1ntenan￿ occurring at regular intervals. Transfers are made to it from the Income and Expenditure Account in accordance with the recommendations of The Almshouse Association.
  3. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrpstricted Deslgnatsd Endowment funds lunds funds Total 2023 Total 2022 Fixed Awts Functional P￿￿ert￿8 InNestmerrt¥ COIF Fixe(J knterest COIF In¥estmern FLMKI 17.350.IKJ 17,351.(XJ 34.701.CX) 17.350.(KJ 17.350.rx) 9.499.CM) 26.850.00 26.850.(K) 9.5(￿.C￿) 44.201.00 44.201.LK) Current AoWUablllll•¥ Cash at bank Loans Debtors Crlitot5 N•t •wt¥totsl fund 102.875. ￿4.937.￿lI 2.508.78 <726.FAJI 62,508.20 O.C¢J 165.183.89 165.220.94 O.CQ 124,937.501 2.508.78 1.588.84 (726 601 11.013.531 9.600.Tr) 1W229.S7" 2Q9.997.25 6IS08.20 Unre81ised gains incltyjed atthe.. Net gain￿00s5es> Lx) rwuaii¢y Unrestricted funds comprise those funds which the Trustees are free to use in accordan with The Charity's objectives. Designated funds are the ERF and the CMF whose purpose is defined by the Trustees. 16

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