2024-05-31-accounts

WILSON MEMORIAL HOMES Charitable Incorporated Organisation Registered Charity No. 1184260 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO 31 MAY 2024

WiLSON MEMORIAL HOMES Reference and Administrative Infomiation Trustees Hilary Holland (Chair) Michael Barnes Michael Dobson fmm 2tst March 2024 Maureen Granville Julie Gutteridge (Treasurer) fmm 1￿ October 2023 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 Armathwaite Carlisle Bankers Barclays Bank PLC, Rosehill, Carlisle Cumberland Building Society. 19 Front Str*t. Brampton, CA8 1 NG CCL4. 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 Trustees, Report Statement of Responsibiltties Independent Examinerfs Report Income and Expenditure Account 10 Balan￿ Sheet Notes to the Financial Statements 12-16 Schedule of Investrnents 17

WILSON MEMORIAL HOMES (rhe Charity) Trustees, Annual Report The Trustees present their annual report and financial statements for each 12-month period ending 31 May. This report is for the period 1* June 2023 to 31 May 2024. The financial statements have been prepared in accordance with the accounting policies as set out in the notes to the financial statements and comply with The Charity's goveming document, applicable law and the requirements of the Statement of Recommended Practi￿. Accounting and Reporting by Charities, {SORP 2016) issued in January 2016. and more recent autumn 2019- Charity SORP FRS 102, UFdate Bulletin 1 and 2. Structure, Governance and Management The Charity is a Charitable Incorporated Organisation {CIO) which was established on 4 July 2019 and is regulated by a constitlrtion dated 5 December 2018 (the Constitution). All of the assets of the former Wlson Memorial Homes. Charity number 224967 were transferred to the Charity on 30 September 2019 which was the date when the hvo 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 visit all of the woperties. which fonn part of Wilson Memorial Homes, on, at least. an annual basis. Many of the properties were visited by the Clèrk, accompanied by 8ither a member of staff, Contractor or Trustee during the year. Trustees e Trustees The Trustees who seN8d during the period were: Michael Bames Michael Dobson (from 21° March 2024) Maureen Granville Julie Gutteridge (from 1 ￿ October 2023) John Brian Hogg Hilary Holland Sally Nelson Peter Sedgwick William Wilson New Trustees are Usual￿ appointed by being recommended by an existing Trustee and fonnally approved by a resolution passed at a properfy convened meeting of the Trustees.

Public benefit The Trustees have reviewed the Charity Commission's guidance on the requirement to report on public benefit and are satisfied that the work of the Charity provides tangible benefit to a wide section of people who Itve in or were bom in the Charty's areas of benefit. The criteria used to assess those who may benefft are not unreasonably restrictive. Objectives The Constitution sets out the objeds of the Charity vthich 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 majority of whom being on low incomes, and where preference is given to people who are bom in or are resident in the Parishes of Farlam, Brampton and Watton.. Activities, maintsnance and ropairs The Charity has a policy of improving all properties to bring them up to a de￿nt home standard and to keep contributions payable by the occupiers at an affordable level. Whenever a property becomes vacant the policy is, where ne￿Ssary, to modemise the kitchen and bathroom and deal with any other defects, reSoUr￿S pemitting. Specific works carried out during this period". 2 Walton - Refurbishment This propety was Gompleted in June 2023 having had a new aIr-sour￿ heat exchang8 untt installed along with underfioor heating, and was fully insulated. A new resident occupied the property from July 2023. 1 & 3 Mitton- Refurbishments These properties have been fully refurbished with new insulated floors and walls, new High Heat Retention radiatots installed and with new bathroom and kitchen fittings. These properties were occupied by new residents from April 2024. 1 Station Road Ends - Part Refurbishment Refurbished the bathroom replaang the water tank and general upgrading. Corner Cotta e-ma orRe The chimney was re-built. air Financial Review All residents pay a Weekfy Maintenance Contribution WC) which is below the fair rent set by the Valuation Office. The WMC is reviewed annually. and as a result a £2 increase was applied to all homes effective from 1 June 2023. This meant that the WMC for two- bedroom properties in Brampton was increased from £91-£93. one-bedroom properties in Brampton rose from £89-£91 and the IMAC for village properties increased from £81-£83. This ensures that signfficant improvement works Gan be carried oui 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.

Reserve8 Policy The Trustees usually 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 routine Maintenan￿ but the Trustees do not consider it to be necessary to establish this addttional fund at this time. It is also recognised that it is necessary 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 ￿Sidents are appointed. A free reseThe of £59,359.26 is thought to be sufficient to cover day to day expenditufe for approximately 3 months. however, this does not enable the Charity to transfer the reGommended minimum amounts to the CMF. This being the amourrt ofthe net current assets less those funds allocated for designated purposes (ERF, CMF) and th8 endowment funds which cannot be accessed.

The Almshouse Association recommended amount to transfer to designated funds Over 20 years old per unlt Ext￿ordInary Repairs Fund Cyclical Maintenance Fund Rgcommended amount 2024 Properties 1£) per year £639 £1,044 £28.755 £46,980 £16.735 45 Extraordinary Repaits Fund: Erne￿e￿les. mapr repairs of t(ilers. *indcphs and rry)f repairs. Cyclical Mantenance Fund.. Plann￿1 maintenance. refU￿iShment on ￿¢anCY, kitchens. bathmoms & interior & exterior d&¢rtiC￿. The Trustees agreed (approved at a meeting 14110124) to transfer a total of £28,755 to the ERF (Extraordinary Repairs Fund) as per The Amshouse Association's recommended amount. However, not to transfer the recommended sum to the CMF {Cyclical Maintenance Fund), because the balan￿ of this fund is already above the recommended amount. Rlsk Factors The Trustees have examined the risks which the Charity faos and confimi that intemal Systems, policies and prO￿dureS have been established to enable the Charity to function effectively. The status of the Chartty as a CIO mitigates the risk to individual trustees. Plans for the Futuro The recommendations made in the quinquennial report will be consKlered and, as finanos allow, implemented over time. As a priortty, consideration will be given to continue the work of replacing windows and extemal doors at all properties. and to upjrade the properties as they become empty. The Weekly Maintenano ContribLrtion IWMC) is reviewed annually with the funds being reinvested into the housing stock to ensure that the Charlty continues to provide adequate housing provision for future generations. All residents pay a ￿c below the fair rent set by the Valuation Office.

WILSON MEMORIAL HOMES Statement of Responsibilities The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordano with the applicable law and United Kingdom Accounting Standards {United Kingdom General Accepted Accounting practi￿). The law applicable to charities in England and Wlales requires The Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of The Charity and of the incoming resour￿$ and application of resources of The Charity for that period. In preparing these financial statements, The Trustees are required to.. Select suitable accounting policies and then apply them Kinsistently" Obsejve the methods and principles in the Chariiies 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 The Charity will continue in OFeration. The Trustees are responsible for keeping adequate accounting records which disclose with arKuraGy the financial position of The Charity 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 thè assets of The Charity and hence taking reasonable step5 for the prevention and detection of fraud and other irregularities. The Trustees therefore ￿rtify that: In so far as we are aware there is no relevant audit infonnation of which The Charity's independent examiner is unaware.. and We have taken all reasonable steps that V￿ ought to have taken to mak8 ourselves aware of any relevant audit infonnation and to establish that the independent examiner is av￿re of that information. On behalf of the Board of Trustees Chair: Mrs Hilary Holland Dated: X£

ACCOUNTS OF THE WILSON MEMORIAL HOMES 1 June 2023 to 31 May 2024 Ind•pondont Examinerfs report to Tn￿teeS of the Wilson Memorial Homes I report to the Trustees on my examinab.on of the ￿Unts of the Wlson Memorial Homes (Charity Commission No.1184260) from 1 June 2023 to 31 May 2024. Rgswctive responslbllltles of the Trustees and the Indopgndent Examinor The Trustees of Th hari are res nsible for the fation of the accounts in accordance with the Accoun Re rtin b Chaiities SORP 2016 . (Chanty SORP FRS 102, Update Bulletsn 1 and Update Buliebn 2). The Trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 I'the Act'l and that an independent examination is needed. It is my responsibility to-. examine the accounts under section 144 of the Act, follow the applicable Direcbons given by the Chanty Commission (under section 14515}Ibl of the Act), and slate whether particular matters have come to my attention. Basls of Independent Examlngrfs statement My examination was carried out in accordance with general Directions given by the Charty Commission. An examination includes a review of the accountsng records kept by The Charity and a comparison of the accounls presented with those records. 11 also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from The Trustees ¢onceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and ¢onsequently no opinion is given as to whether the accounts present a 'true and fai￿ view and the report is limited to those matters set out in the statement below. Independent Examinees statoment In ¢onneclion with my examination, no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respecL accounting records were not kept in accordance wrth sectrjn 130 ofthe Act.. or the accounts did not accord with those records; or the a¢¢ounts did not comply wilh the applicable requirements conceming the form and content of ac¢ounts set out in the Chanties (Accounts and Reports} Regulations 2008 other than any requ1￿ment that the accounts give a'true and fair view. which is not a matter considered as part of an independent examination. I have no ¢oncems and have come across no other matters in connection with the examination to which attention shoutd be drawn in this report in order lo enable a proper understsnding of the accounts to be reached. Signed: Date:

WILSON MEMORIAL HOMES Statsment of Financial Acttvities - Income and Expenditure Account 1 Jun• 2023- 31 May 2024 Notes Unrestrirted fvnd5 De￿gnated ERF fur Designated Endowment CMF fund5 fur Total 2023 2024 kn¢ominK ReSOur￿S Incoming Resource5 201￿32￿4 201JJ32A4 0.00 0.00 201.032.84 199.112.64 201A13234 199.112 0￿rattr¥ Costs Runnin8tOsts & MalnL Governan¢eC05ts 43324a3 44.777.50 88AOI.73" 139A13812 139J)38.22 5SIO.00 0.00 5JlO 188,272.45 44.777.50 233mYS5 190.282.01 32.598.31 21280.32 Oper•tkn8&JrpW (Defithl 112?3111 1139P38221 (5910￿0) Ots)" 132.017111 I23.767￿$8? R&ommended AAtransfer reed ERF transfer Galns on inve51mentassets 13114 128.755.001 I139￿38.22) 28.755.( 139JJ38.22 0.00 0.00 0.00 Surpw (Deffidtlfor th• vr. (S4￿62.111 28.755 159lOml (32A117JII 123.767ffj81 m0￿Ment on ResEr¥s Fund BalaKe$31 May2023 SurplusllDefieitl for year 114221.37 IS4,862.111 62￿08.20 15SIO.001 9.$00.(￿) 186229.57 209,997.25 132.017.111 123.767.681 28.755.00 Fu•d B•larb￿S31 Mty2024 5935926 28.755JlO 5659820 9MIJJO" 1543IZAfj 18622957 The Charity has not acquired or discontinued any fundamental activities during the above financial year, therefore. all of the activities are deemed as continuing. 10

WILSON MEMORIAL HOMES Balance Sheet as at 31 May 2024 Notes 2024 2023 Fixed As6ets Functi¢)nal properties In￿tMentS 1.00 44,200.00 44.201.00 44,200.00 44,201.00 Current A8ts Cash al Bank and in haThJ Debtors 132,685.72 2,￿9.71 135.655.43 165,183.89 2,508.78 167,692.67 Current Liabili1188 Creditors Loans repayable ￿1th1n 12 mcfiths 10 (3.331.471 (2,625.001 (5,956.471 1726.601 2,625.001 {3.351.60} Net Current A8Bets 129.698.96 164.341.07 Long Terni Llabllities Loan8 repaYa￿e 11 (19.687.$0) 122,312.501 Total A8ts Le Llablllties 154,212.46 186.229.57 Capitsl and Rerves Capttal Fund - En(kn￿nent Fund5 Income Funds Designated Funds - ERF Designated Funds - CMF Unrestricted Funds 12 9.5CIJ.OQ 9,5(Kl.C4J 13 14 28.755.00 ,598.20 59,359 26 62,508.20 114,221.37 154,212.46 186.229.57 The financial statements were approved by The Trustees and y￿re signed on behalf of The Cha b the Chair. Chair: Mrs Hilary Holland Date.. 11

WILSON MEMORIAL HOMES Notes to the Financial Statements For the year ended 31 May 2024 LEGISLATIVE PROVISIONS The Charity is a Charitable Incorporated Organisation (CIO) which was established on 4 July 2019 and is regulated by the Conststution. ACCOUNTING POLICIES These accounts have been prepared in accordance wrth applicable accounting standards. the Statement of Recommended Pradice, Accounting and Reporting by Charities, Charity SORP FRS 102, Update Bulletin 1 & Update Bulletin 2, and the Charities Act 2016. Accountin onvention The accounts are prepared under the historic cost convention, modffied to include the revaluation of investments in accordance with applicable accounting standards and recommended practs.￿. Incomin Resources Contributions from the Residents are accounted for when r6ceivable and are added to the Unrestricted Fund. Investment Income is accounted for on the receivable dates and added to the relevant fund in which the investment is held. Costs l exp8nditure has been recognised in the financial statements on an accruals basis. Functional Pro rties The functional properties are included on the balance sheet at a nominal value of £1. The current insuranr£ value of these properties is detailed at Note 7 of these statements. The properties within The Charity fomied part of the original Pemanent Endowment of the Charity and under the tenns of the Charity Commission schem8 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. Inves ments The quoted investments are valued at market value, where applicable. Gains and losses relatin9 to investments are shown at Note 8. 12

INCOMING RESOURCES Unrestricted De￿gnated funds funds Total 2024 Tota I 2023 Contributions from residerrts Interest Donations, Ins. Claims. Grants 197.874.00 3.058.84 1￿.L￿) 201.032.84 197.874. 3.058.84 100C 201.03184 195.307.54 707.60 3,097.50 199.112.64 OPERATING COSTS Unrgrfcted Designaled Designated nds ERF fvnds CMF ￿ndS Total 2024 Total 2023 Operating Costs Running Costs & Maintenance 43.324.23 139.038.22 5.910.C 44.7Th.50 88.101.73 139,03&22 188,272.45 190.282.01 44,777.50 32,598.31 233.049.95 222.880.32 5,910.00 Running Costs & Maintenance General Repair & Mantenance 36,504.20 Improments O.IXl 139.038.22 Water Rates Council Tax Insurance NTVLRO Bank Charges Almshouse Subscriptic 36.504.20 26,240.33 144,948.22 157.039.16 0.00 0.00 5.126.42 97.50 108.42 1,355.60 672.00 423.00 188.272.45 190.282.01 5.910.00 6.039.61 6,039 61 108.42 672.co 43.324.23 139.038.22 5.910.00 Governance Co* Salaries & Costs Trustees Assurance IndeFendent Examiner Office Expenses Legal & Profession81 Fees 33.971.21 33,971.21 26,405.os 380.80 380.80 3W.00 300.00 5,392.69 5,422.46 4.732.80 90.Tr) 5.392.69 4.732 44.7n.50 44,777.50 32,598.31 13

1. TRUSTEES Nonè of The Trustees received any remuneration during the period.
2. EMPLOYEES There were two employees during the period. the Clerk and an Administrative Assistant.
3. FUNCTIONAL PROPERTIES 2024 2023 Net Bcok Value land Nominal value) at 31 May Insurance Value A. Land at Brampton having a frontage on to the road from Brampton to Alston together with the ￿enty-Seven cottages erected thereon and known as Wlson Merrnrial Homes. 5,316,460 4,505.850 B. Land at Millon having a frontage on to the road from Milton to Hallbankgate together with the six cottages erected thereon and known as 'Wlson Memorial Hornes. 1.156.562 980,220 C. Land at Walton having a frontage on to the roal from Watton to Nickies Hill together with the six cottages erected thereon and known as 'Wlson Memorial Homes. 1.144.126 969,680 D. Land at Brampton (Station Road End) having a frontage on to the road from Brampton to Milton together with the six cottages erected thereon and kn(AYn as The Joseph Ihfjlson Hon￿, 1.069.509 906,440 8.686.657 7,632,190
4. INVESTMENTS Endowment Investsnent funds funds 2024 2023 Market Value Beginnin9 of periodlyear Acquisitions at cost Change in ￿lue in ￿10CVyèar End ofyeai 17,744.23 52,105.79 69,850.02 68,679.25 0.00 1,170.77 69,850.02 1,760.15 4,633.22 19.50&38 56,739.01 6.393.37 76,243.39 Histori¢ Cost Beginning of wi¢xl End of period 9,499.00 34.701.IY) 44,200.00 9,499.00 34,701.00 44,200.00 44,200.00 44,200.00 14

DEBTORS 2024 2023 We8kty Maintenance Contribulions (WMC) 2.969.71 2,969.71 2,508.78 2.$08.78 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 IndeF*ndent Examiner Retention Nest Pension Contributior 3CKJ.00 1.c￿).00 S￿.00 226.60 726.60 1.300.00 ALMSHOUSE LOAN 2024 2023 Balance at 1 June Loan weiwl Arrangement fBe Repayments 24.937.50 0.00 0.00 25,000.00 1,250.00 (1.312.50) 24.937.50 12.625.001 22.312.50 Liabllltles RepaYa￿e Mihin 12 months RepaYa￿e after 12 Months 2.62S.IXI 19.687.50 2.625.00 22.312.$0 12. ENDOWMENT FUNDS 2024 2023 Balanee at 1 June m0￿Ment in fvnds.. Prior period ￿lJUStMent Gainsl(Losses) on Aqui8tionslDisposals Commission recei￿ Bala￿e at 31 May 9.5fy).00 9.500.00 0.00 0.00 9.500.00 9.600.00 The Endowment Fund represents those assets vthich must be held pemianently by th8 Charity. Income arising on the assets held in this fund can be used in accordance with the objectives of The Chaiity and is included as unrestricted income. 15

1. EXTRAORDINARY REPAIRS FUND 2024 2023 Balance at 1 June Recommend&Y AA transfer Agre&l additionaj ERF transfer Less ERF ExFenditure Balance at 31 May 0.00 28,755.00 139,038.22 139,038.22 28.755.00 0.00 27,630.00 125,609.16 153,239.16 Extraordlnary 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 ac¢ordance wrth the recommendations of The Almshouse Association. This year the Trustees agreed to transfer an extra £139,038.22, (approved at a Trustee meeting 03102125).
2. CYCLICAL MAINTENANCE FUND 2024 2023 Balance at 1 June Transfer from Unrestricted Funds Less CMF ExrEnditure 8alance at 31 May 62.508.20 21,128.20 45.180.00 3,800.00 62,508.20 5.910.C 56.598.20 Cyclical Maintenance Fund (CMF) This is a designated reserve fvnd for maintenance occurring at regular intervals. Transfers are made to it from the Income and Expenditure Account in accordance with the recommendations of The Ajmshouse Association. The Trustees ac￿pted that they should not transfer the recommended amount for this year.
3. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Dc>gnated funds funds Endowment Tota I 2024 Total Flxod A•wts Functional Properties In￿tments COIF Fixed Interest Fund COIF I￿￿tment F￿￿1 17.39J.CQ 17,351.(K) 34.701. 17.35O.IKI 17,350.(K) 9.499.OJ 26.850. 26,850. 9.5Q).CKJ 44.201.(K) 44,201.fX) Curront Aa0•￿￿•bIllll•s Cash at bank Loans Debtors Creditor5 Nèt a•twtotal fun 47.332.52 ￿353.20 rd2.312.501 2.￿.71 13.&31_47) 59.369.26 ￿363.20 O.¢J) 132.685.72 165.183.89 O.¢YJ R2.312.501 (24,937.501 2.￿.71 2.508.78 13.331.471 1726.601 9.600.IXI 1fj4.21Z46 186,229.57 Unrealised gains Incltyyed abo*". Net gainslllosses) ￿ rwluatj¢ Unrestricted funds comprise those funds which the Trustees are free to use in accordance with The Charity's objectives. Designated fijnds are the ERF and the CMF whose purpose is defined by the Trustees. 16