Charity number: 1186744
## **THE GEORGIANA BURRELL ALMSHOUSES**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2024**
Document ID: ef3abb50cc63e699acf1bfc844e41746fbdda0ef510b51f5d7b35c5d52c6a6e2
## **THE GEORGIANA BURRELL ALMSHOUSES**
## CONTENTS
||Page|
|---|---|
|**Reference and administrative details of the charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 4|
|**Independent examiner's report**|5|
|**Statement of financial activities**|6|
|**Balance sheet**|7|
|**Notes to the financial statements**|8 - 17|
Document ID: ef3abb50cc63e699acf1bfc844e41746fbdda0ef510b51f5d7b35c5d52c6a6e2
## **THE GEORGIANA BURRELL ALMSHOUSES**
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS _FOR THE YEAR ENDED 31 MARCH 2024_
|**Trustees**|Mrs J Kemp,Chair|
|---|---|
||Mrs F Noble,Trustee|
||Mr D Bashforth,Trustee(appointed 5 February2024)|
|**Charity registered number**
1186744
**Principal office**
Belmayne Independent
274 Chesterfield Road
Dronfield
Derbyshire
S18 1XJ
**Independent examiner**
Rachel Heath FCCA DChA
BHP LLP
2 Rutland Park
Sheffield
S10 2PD
**Bankers**
Nat West Bank Plc
P O Box 120
42 High Street
Sheffield
S1 1QG||
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Document ID: ef3abb50cc63e699acf1bfc844e41746fbdda0ef510b51f5d7b35c5d52c6a6e2
## **THE GEORGIANA BURRELL ALMSHOUSES**
## TRUSTEES' REPORT
_FOR THE YEAR ENDED 31 MARCH 2024_
The Trustees present their annual report together with the financial statements of the charity for the 1 April 2023 to 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.
## _**Objectives and activities**_
## **a. Policies, objectives and public benefit**
The Trust provides the public benefit of making available heavily subsidised housing for inhabitants of the City of Sheffield who, having retired from work, find themselves in a financial position where they cannot adequately house themselves.
During the year fifteen residents were housed in the twelve Almshouses owned by the trust. The Trustees welcome people regardless of gender, religious or political beliefs.
## _**Achievements and performance**_
## **a. Key performance indicators**
Throughout the year the trust has continued to provide and maintain the twelve Almshouses it owns that are located at Knowle Lane, Sheffield.
Costs of maintaining and managing the Almshouses were funded by contributions received from occupants of £38,458 (2023: £43,300). Total expenditure amounted to £26,237 (2023: £24,804). This resulted in a surplus for the year of £12,441 (2023: surplus of £19,029) before investment gains and losses. The surplus was made up of a surplus on unrestricted funds of £22,223, a deficit on restricted funds of £5,913 and a deficit on endowment funds of £3,869 before other recognised gains and losses. Gains on investments for the year were £64,054 (2023: loss of £25,049) and accounting for funds brought forward, the charity has net assets of £1,372,662 (2023: £1,296,167) at the year end. Of these, unrestricted funds stand at £52,526 (2023: £34,083), a figure of £93,626 (2023: £95,759) for restricted funds and endowment funds of £1,226,510 (2023: £1,166,325).
## **b. Investment policy and performance**
The Trustees’ powers of investment are those contained in the Trustee Investment Act 2000. The policy of the trustees during the year was to maintain its income levels of previous years, whilst preserving the real value of the endowed investments, in order to maximise funds available for repairs and maintenance carried out on the Almshouses.
## _**Financial review**_
## **a. Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
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Document ID: ef3abb50cc63e699acf1bfc844e41746fbdda0ef510b51f5d7b35c5d52c6a6e2
## **THE GEORGIANA BURRELL ALMSHOUSES**
## TRUSTEES' REPORT (CONTINUED)
_FOR THE YEAR ENDED 31 MARCH 2024_
## **b. Reserves policy**
The trustees make transfers to restricted funds each year due to the requirements of the Charity Commission schemes under which the Charity is constituted. These restrictions are required so that funds are available for the emergency and regular maintenance of the Almshouses. Over the coming year the Trustees will consider the use of the emergency repair fund in light of the original guidance from the Charity Commission and the current requirements of the charity. In addition the trustees have taken steps to increase rental income which would ensure the charity becomes sustainable.
As at 31 March 2024, total reserves were £1,372,662 (2023: £1,296,167) of which £52,526 (2023: £34,083) were unrestricted, £93,626 (2023: £95,759) were restricted and £1,226,510 (2023: £1,166,325) were endowment.
The charity currently has free reserves of £52,526. The trustees do not believe increased free reserves are required, as any exceptional expenditure that may be required would be repairs based and could be funded from the restricted maintenance fund.
## _**Structure, governance and management**_
## **a. Organisational structure and decision-making policies**
The Georgiana Burrell Almshouses was registered as a charitable incorporated organisation (CIO) on 4 December 2019.
In planning our activities for the year we kept in mind the Charity Commission’s guidance on public benefit at our trustee meetings.
In normal circumstances the trustees meet twice a year, namely in May and November. The first meeting reviews the work of the trust in the preceding year to the previous 31 March and the second meeting approves the accounts for that previous year, and also deals with any matters relating to the current year in hand. In addition, the trustees have special meetings from time to time in the event of important matters requiring prompt decisions arising.
The mode of appointment of trustees is as follows. When a vacancy occurs, nominations are put forward by the other existing trustees. The trustees then meet and choose a suitable candidate from the nominations. The candidate then attends the next trustees’ meeting to be interviewed. If the interview is successful, the individual signs the schedule of trustees in the trust’s minute book. Thereafter they attend meetings in the normal way. New trustees are fully inducted in the management structure of the trust and all requirements of them as trustees. Trustee training is delivered via the trustee meetings, and upon request if specific needs arise (i.e. new legislation).
All trustees give of their time freely and no remuneration or expenses were paid in the year.
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Document ID: ef3abb50cc63e699acf1bfc844e41746fbdda0ef510b51f5d7b35c5d52c6a6e2
## **THE GEORGIANA BURRELL ALMSHOUSES**
## TRUSTEES' REPORT (CONTINUED)
_FOR THE YEAR ENDED 31 MARCH 2024_
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP 2019 (FRS 102);
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Signer ID: SQASOASNQK... **Mrs J Kemp** (Chair of Trustees) Date: 02/12/2024 GMT
Signer ID: DHHSJPROIW... **Mrs F Noble** 03/12/2024 GMT
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Document ID: ef3abb50cc63e699acf1bfc844e41746fbdda0ef510b51f5d7b35c5d52c6a6e2
## **THE GEORGIANA BURRELL ALMSHOUSES**
## INDEPENDENT EXAMINER'S REPORT
_FOR THE YEAR ENDED 31 MARCH 2024_
## **Independent examiner's report to the Trustees of The Georgiana Burrell Almshouses (the charity)**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
03/12/2024 GMT Signed: Dated: Signer ID: WKOLTHN6RI...
Rachel Heath FCCA DChA
BHP LLP 2 Rutland Park Sheffield S10 2PD
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Document ID: ef3abb50cc63e699acf1bfc844e41746fbdda0ef510b51f5d7b35c5d52c6a6e2
## **THE GEORGIANA BURRELL ALMSHOUSES**
## STATEMENT OF FINANCIAL ACTIVITIES
_FOR THE YEAR ENDED 31 MARCH 2024_
|**Note**
**Income and**
**endowments from:**
Contributions from
occupants
Investment income
3
**Total income and**
**endowments**
**Expenditure on:**
Raising funds
4
Charitable activities
5
**Total expenditure**
**Net**
**income/(expenditure)**
**before net**
**gains/(losses) on**
**investments**
Net gains/(losses) on
investments
9
**Net**
**income/(expenditure)**
Transfers between funds
11
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought
forward
Net movement in funds
**Total funds carried**
**forward**|**Unrestricted**
**funds**
**2024**
**£**
**38,458**
**220**
**38,678**
**-**
**16,455**
**16,455**
**22,223**
**-**
**22,223**
**(3,780)**
**18,443**
**34,083**
**18,443**
**52,526**|**Restricted**
**funds**
**2024**
**£**
**-**
**-**
**-**
**-**
**5,913**
**5,913**
**(5,913)**
**-**
**(5,913)**
**3,780**
**(2,133)**
**95,759**
**(2,133)**
**93,626**|**Endowment**
**funds**
**2024**
**£**
**-**
**-**
**-**
**3,869**
**-**
**3,869**
**(3,869)**
**64,054**
**60,185**
**-**
**60,185**
**1,166,325**
**60,185**
**1,226,510**|**Total**
**funds**
**2024**
**£**
**38,458**
**220**
**38,678**
**3,869**
**22,368**
**26,237**
**12,441**
**64,054**
**76,495**
**-**
**76,495**
**1,296,167**
**76,495**
**1,372,662**|Total
funds
2023
£
43,300
533
43,833
3,186
21,618
24,804
19,029
(25,049)
(6,020)
-
(6,020)
1,302,187
(6,020)
1,296,167|
|---|---|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
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## **THE GEORGIANA BURRELL ALMSHOUSES**
## BALANCE SHEET
_AS AT 31 MARCH 2024_
|**Note**
**Fixed assets**
Tangible assets
8
Investments
9
**Current assets**
Cash at bank and in hand
Creditors: amounts falling due within one year
10
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Endowment funds
11
Restricted funds
11
Unrestricted funds
11
**Total funds**|**57,960**
**57,960**
**(4,780)**|**2024**
**£**
**900,000**
**419,482**
**1,319,482**
**53,180**
**1,372,662**
**1,372,662**
**1,226,510**
**93,626**
**52,526**
**1,372,662**|42,384
42,384
(5,594)|2023
£
900,000
359,377|
|---|---|---|---|---|
|||||1,259,377
36,790|
|||||1,296,167|
||||||
|||||1,296,167|
|||||1,166,325
95,759
34,083|
||||||
|||||1,296,167|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Signer ID: SQASOASNQK... **Mrs J Kemp** Chair of Trustees Date: 02/12/2024 GMT
Signer ID: DHHSJPROIW... **Mrs F Noble** Trustee 03/12/2024 GMT
The notes on pages 8 to 17 form part of these financial statements.
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Document ID: ef3abb50cc63e699acf1bfc844e41746fbdda0ef510b51f5d7b35c5d52c6a6e2
## **THE GEORGIANA BURRELL ALMSHOUSES**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2024_
## **1. Accounting policies**
## _**1.1 Basis of preparation of financial statements**_
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## _**1.2 Going concern**_
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
## _**1.3 Income**_
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## _**1.4 Expenditure**_
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
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## **THE GEORGIANA BURRELL ALMSHOUSES**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2024_
## **1. Accounting policies (continued)**
## _**1.4 Expenditure (continued)**_
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## _**1.5 Tangible fixed assets and depreciation**_
The Almshouse property is carried in the balance sheet at the trustees' estimate of current market values.
## _**1.6 Investments**_
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
## _**1.7 Cash at bank and in hand**_
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## _**1.8 Liabilities and provisions**_
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## _**1.9 Financial instruments**_
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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## **THE GEORGIANA BURRELL ALMSHOUSES**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2024_
## **1. Accounting policies (continued)**
## _**1.10 Fund accounting**_
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Endowment funds represent those assets which must be held permanently by the charity, principally the almshouses and listed investments. Income arising from endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges are charged against the fund.
Investment income, gains and losses are allocated to the appropriate fund.
## _**2.**_ **Critical accounting estimates and areas of judgement**
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
## **3. Investment income**
|Income from listed investments
Total 2023|**Unrestricted**
**funds**
**2024**
**£**
220
533|**Total**
**funds**
**2024**
**£**
**220**
533|Total
funds
2023
£
533|
|---|---|---|---|
|||||
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## **THE GEORGIANA BURRELL ALMSHOUSES**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2024_
## **4. Investment management costs**
|Investment management fees
Total 2023|**Endowment**
**funds**
**2024**
**£**
3,869
3,186|**Total**
**funds**
**2024**
**£**
**3,869**
3,186|Total
funds
2023
£
3,186|
|---|---|---|---|
|||||
## **5. Expenditure on charitable activities**
||**Unrestricted**
**funds**|**Restricted**
**funds**|**Total**
**funds**|Total
funds|
|---|---|---|---|---|
||**2024**|**2024**|**2024**|2023|
||**£**|**£**|**£**|£|
|Propertymaintenance|-|2,913|**2,913**|2,772|
|Garden maintenance|5,775|3,000|**8,775**|7,650|
|Management fees|6,600|-|**6,600**|6,000|
|Accountancy|4,080|-|**4,080**|4,974|
|Legal fees|-|-|**-**|222|
||||||
|**_Total 2024_**|16,455|5,913|**22,368**|21,618|
||||||
|Total 2023|15,846|5,772|21,618||
|**Independent examiner's remuneration**
Fees payable to the charity's independent examiner for the independent
examination of the charity's annual accounts|||**2024**
**£**
**4,080**|2023
£
3,894|
## **6. Independent examiner's remuneration**
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## **THE GEORGIANA BURRELL ALMSHOUSES**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2024_
## **7. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).
## **8. Tangible fixed assets**
|**_Valuation_**
At 1 April 2023
At 31 March 2024
**_Net book value_**
At 31 March 2024
At 31 March 2023|**Freehold**
**property**
**£**
**900,000**|
|---|---|
||**900,000**|
||**900,000**|
||900,000|
The trustees consider the valuation of the property at Knowle Lane, Sheffield of £900,000 represents fair value at 31 March 2024.
The historical cost of freehold property is not available as it was acquired in periods for which records are no longer available, as such historical cost information has not been disclosed.
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## **THE GEORGIANA BURRELL ALMSHOUSES**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2024_
## **9. Fixed asset investments**
||**Listed**
**investments**|**Total**
**2023**|**Total**
**2022**|
|---|---|---|---|
||**£**|**£**|**£**|
|**_Cost or valuation_**||||
|At 1 April 2023|352,571|**352,571**|386,755|
|Additions|-|**-**|340,794|
|Disposals|-|**-**|(349,929)|
|Revaluations|64,054|**64,054**|(25,049)|
|At 31 March 2024|416,625|**416,625**|352,571|
|||||
|Investment cash|2,857|**2,857**|6,806|
## **10. Creditors: Amounts falling due within one year**
||**2024**|2023|
|---|---|---|
||**£**|£|
|Accruals|**4,780**|5,594|
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## **THE GEORGIANA BURRELL ALMSHOUSES**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2024_
|**11.**
**Statement of funds**
**Statement of funds - current year**
**Balance at 1**
**April 2023**
**£**
**_Unrestricted_**
**_funds_**
General Funds
**34,083**
**_Endowment funds_**
Endowment Fund
**1,166,325**
**_Restricted funds_**
Emergency repair
fund
**95,759**
Cyclical
maintenance
fund
**-**
**95,759**
**_Total of funds_**
**1,296,167**|**Income**
**£**
**38,678**
**-**
**-**
**-**
**-**
**38,678**|**Expenditure**
**£**
**(16,455)**
**(3,869)**
**(2,913)**
**(3,000)**
**(5,913)**
**(26,237)**|**Transfers**
**in/out**
**£**
**(3,780)**
**-**
**780**
**3,000**
**3,780**
**-**|**Gains/**
**(Losses)**
**£**
**-**
**64,054**
**-**
**-**
**-**
**64,054**|**Balance at 31**
**March 2024**
**£**
**52,526**|
|---|---|---|---|---|---|
||||||**1,226,510**|
||||||**93,626**
**-**|
||||||**93,626**|
||||||**1,372,662**|
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## **THE GEORGIANA BURRELL ALMSHOUSES**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2024_
## **11. Statement of funds (continued)**
**Statement of funds - prior year**
|**_Unrestricted_**
**_funds_**
General Funds
**_Endowment funds_**
Endowment Fund
**_Restricted funds_**
Emergency repair
fund
Cyclical
maintenance
fund
**_Total of funds_**|Balance at
1 April 2022
£
9,876
1,194,560
97,751
-
97,751
1,302,187|Income
£
43,833
-
-
-
-
43,833|Expenditure
£
(15,846)
(3,186)
(2,772)
(3,000)
(5,772)
(24,804)|Transfers
in/out
£
(3,780)
-
780
3,000
3,780
-|Gains/
(Losses)
£
-
(25,049)
-
-
-
(25,049)|Balance at
31 March
2023
£
34,083|
|---|---|---|---|---|---|---|
|||||||1,166,325|
|||||||95,759
-|
|||||||95,759|
|||||||1,296,167|
## **12. Summary of funds**
**Summary of funds - current year**
|General funds
Endowment funds
Restricted funds|**Balance at 1**
**April 2023**
**£**
**34,083**
**1,166,325**
**95,759**
**1,296,167**|**Income**
**£**
**38,678**
**-**
**-**
**38,678**|**Expenditure**
**£**
**(16,455)**
**(3,869)**
**(5,913)**
**(26,237)**|**Transfers**
**in/out**
**£**
**(3,780)**
**-**
**3,780**
**-**|**Gains/**
**(Losses)**
**£**
**-**
**64,054**
**-**
**64,054**|**Balance at 31**
**March 2024**
**£**
**52,526**
**1,226,510**
**93,626**|
|---|---|---|---|---|---|---|
|||||||**1,372,662**|
Page 15
Document ID: ef3abb50cc63e699acf1bfc844e41746fbdda0ef510b51f5d7b35c5d52c6a6e2
## **THE GEORGIANA BURRELL ALMSHOUSES**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2024_
## **12. Summary of funds (continued)**
## **Summary of funds - prior year**
|General funds
Endowment funds
Restricted funds|Balance at
1 April 2022
£
9,876
1,194,560
97,751
1,302,187|Income
£
43,833
-
-
43,833|Expenditure
£
(15,846)
(3,186)
(5,772)
(24,804)|Transfers
in/out
£
(3,780)
-
3,780
-|Gains/
(Losses)
£
-
(25,049)
-
(25,049)|Balance at
31 March
2023
£
34,083
1,166,325
95,759|
|---|---|---|---|---|---|---|
|||||||1,296,167|
## **Endowment fund**
This is a permanent endowment and represents the value of all of the twelve Almshouses and the market value of investments purchased with the remainder of the original gift.
## **Emergency repair fund**
This is a restricted fund for the extraordinary repair, improvement or rebuilding of the Almshouses. The fund is represented by an accumulation of shares. A transfer of £780 to this fund is made each year from the general fund.
## **Cyclical maintenance fund**
This is a restricted fund set up to provide resources to keep the property well maintained. A transfer of £3,000 is made to this fund every year from the general fund.
These funds are required by the Charity Commission Schemes under which the charity is constituted.
## **13. Analysis of net assets between funds**
**Analysis of net assets between funds - current period**
|Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
**_Total_**|**Unrestricted**
**funds**
**2024**
**£**
-
-
57,306
(4,780)
52,526|**Restricted**
**funds**
**2024**
**£**
-
-
93,626
-
93,626|**Endowment**
**funds**
**2024**
**£**
900,000
419,482
(92,972)
-
1,226,510|**Total**
**funds**
**2024**
**£**
**900,000**
**419,482**
**57,960**
**(4,780)**|
|---|---|---|---|---|
|||||**1,372,662**|
Page 16
Document ID: ef3abb50cc63e699acf1bfc844e41746fbdda0ef510b51f5d7b35c5d52c6a6e2
## **THE GEORGIANA BURRELL ALMSHOUSES**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 MARCH 2024_
## **13. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior period**
|Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
**_Total_**|Unrestricted
funds
2023
£
-
-
39,677
(5,594)
34,083|Restricted
funds
2023
£
-
-
95,759
-
95,759|Endowment
funds
2023
£
900,000
359,377
(93,052)
-
1,166,325|Total
funds
2023
£
900,000
359,377
42,384
(5,594)
1,296,167|
|---|---|---|---|---|
## **14. Related party transactions**
There are no related party transactions in the year (2023: £nil).
Page 17
Document ID: ef3abb50cc63e699acf1bfc844e41746fbdda0ef510b51f5d7b35c5d52c6a6e2