The Wyndham Cottle Almshouses (Charity1186009) TREASURERS ANNUAL REPORT FOR 2023 2023 is the official centenary year for the Almshouses, but due to the ongoing impact of Covid and the recent changes in the residents during the previous year il was decided lo defer the celebration for one year. Meetings have been held over a Zoom link as this was found to be beneficial in terms of assuring that as many of the Trustees as possible could attend. Anne at No_ 1 has remained relatively healthy. but has occasional memory issues bul is considered to be capable of looking after herself_ Hef family are supportive and assist where necessary. Number 2 remained unoccupied for the first two months of the year and the Trustees took advantage of the situation to carry out some upgrades lo the property and improve the insulation. A new resident moved into the properly between March and August but unfortunately decided that the lifestyle wa5 not ideal and she decided to return to her family. A replacement moved in during December, so we only had 7 months occupation in 2023. Number 3 was also unoccupied for the latter part of 2022 and the first 2 months of 2023. The Trustees took advantage of the break to upgrade the properly. Fred in Number 4 has remained in reasorlable health and has continued working on his garden and contributing to the maintenance work on the communal areas_ Maintenance Work. The Trustees have been carrying out maintenance of the properties in accordance with our 5 year plan, but in response to the increasing energy costs have also made considerable efforts to improve the insulation of the properties and make the heating systems more efficient. This has included". Replacement of the hot water tank. immersiort heater and roof mounted cold water lank with an instant hot water heater. The properties already had electric showers and maintaining a Sarge lank of hot water was considered to not be cost effective as hol water requirements were low. 2. Improved roof insulation to bring this up the modern standards. Replacement of the old style night storage heaters with more modern ones. 4. Adding secondary wall insulation on the exterior walls. Work on two properties was completed in 2023. The remaining work will be carried out in 2024. It had been hoped that grant fulldiJFg would be available to support this work, however considerable difficLFlties were encountered with obtaining grants, so all work was carried out using the Charity's reserve fund. There were also a number of external tasks that are required but could not be completed in 2023. These will be implemented as soon as possible. 1. The replacement of the septic tank. In inspection during 2022 indicated that this was not compliant with current legislation and needs to be replaced. Drainage in the field behind the Almshouses is curienlly poor and the ditchesjhedges around the properly require a significant inveslmenl. 2. Possible parking space for residents and the creation of a community garden. 3. Tests showed that the water pressure al the properties was not as high as the Trustees would like and some difficulties were noted when there was a water requirement at more than one of the properties. The Trustees intend to fund an investigation in 2024. Financos The total expenditure dufing 2023 was £20,198, slightly lower than the figure for 2022, but higher than the avefage over previous years. This was broken down as.. Buildings Maintenance (£11,942). The majority of this was due to the improvements in insulation to the properties and upgrades to the heatirig and plumbing systems. 2. Grounds and Sewerage Maintenance (£2,158). This was spent on emptying the septic tank and grounds maintenance. 3. Administration 1£6,0971. This includes the Clerk's honorarium, insurance. phone bills and other utility bills when the properties were not occupied and miscellaneous costs. Deposits into the current account during the year remained similar to 2022 at £19,799. This was despite an increase in the Maintenance charge, but it was also affected by the lack of income when some of the properties were unoccupied_ A review of the Maintenance charge was carried out early in 2023_ The summary is included below. RPI adjustsd 21930 31623 10,673 48.945 62,398 103.407 148.748 £ 21249.75 442.70 2017 4.1% 3.5% 22J30 20 2019 7.137 7,662 12.034 13.3% 32.398 Jo.0% 35, Mean Annval e￿ndItUre.. MMC based on averaÉe eApeThdffure: L5X zv Based on this a revised maintenance charge of £4501month was implemented in June. Summary: Careful management has allowed the charity to return an annual surplus over many of the previous years, but we sustained a small loss of around £400 in 2023. Given upgrades and the lost income this is considered to be acceptable and sustainable. The Charity's assets at the end of 2023 were.. Current Account-. £ 19.486 Deposit Account- £ 41,148 M&G Accumulation Units." £ 66,913 M&G Income Units= 5.201 Total- £132.748 Rhoderick Powell Camilla Read Trustee and Treasurer Chair of Trustees th 25 March 2024 The Wyndham Cottle Almshouses Charity Regbstration Number 1186009 Accounts for the year ended 31 December 2023 2022 STATEMENf OF FINANCIAL ACTIVITIES 2023 General Restrirted Funds Funds Totsl Total Incomlng Rey)urces General Income DonatK)ns Gift Aid ResÉdents monthly maintenance charges E 17,580 £ Events and Misc income 999 £ Grants £ l.OfN) £ £ 17,580 999 £ 1.000 £ 16,680 999 £ i,CK¥O In¢ome from Invesbnents Interest on Natwest NotKe account DlstrilKrt￿n from M&G Income Units 220 £ 220 145 £ 19.799 £ £ 19,799 £ 18,824 Totsl Incomlng Resources Change in a¥allable Funds overthe ye¥. Transfers from Wyndham Cottle Charity12052931 Transfers from Natwest Notice account Transfers from M&G Income units Transfers from M&G Accumulat￿￿ Untts Resources Expended 8ullding Malntenance Expenses Buiklings Maintenance Grounds and Sewerage Maintenance Professional Ser¥ices and Rewrts £ 11.942 £ £ 2,158 £ £ 11,942 £ 2.158 £ 10,842 £ 2.158 General Costs Administratiorh General Operntional Costs £ 5.526 £ 571 £ £ 5,526 571 £ 5.176 571 £ 20.198 399 £ 18,748 76 Total Re50UTces expended IDeficttll5urplus of Income over expenditure £ ZO,198 £ 399 £ Change In avallable Funds over the year. Transfer5 to N3tWest Notice account linclude interest) Transfersto M&G Income Un Transfers to M&G Accumulation Units The Wyndham Cottle Almshouses Charity Registration Number 11861K19 Attounts for the year ended 31 December 2023 BALANCE SHEEf at 31 Dttember 2022 Z023 Genernl Restricted Funds Funds 2022 Current Assets Totsl Total Bank Accounts Natwest Current Account (Account opened Feb 20211 NatWe5t LiquidTty Manager A¢count (opened Feb 2021) £ 19,486 £ £ 40.202 £ £ 19,486 £ 40,202 £ 19,486 £ 40.202 Investments M&G AccumulatM)n units lalc iKJ24(YJ24851 £ 63,Crf)2 £ M&G Income unlts lalc (M)24￿)24841 £ 5.114 £ £ 63,002 £ 5,114 £ 63.002 £ 5,114 £127,804 Total CurrentAs5•ts £127,804 £ £127W4 These accounts were approved bythe Trustees on 2419/.- Mrs C Read Trustee and Chair of the Trustees and Mr R Powell Treasurer and Trustee