CHARITA8LE INCORPORATED ORGANISATION REGISTERED CHARITY NUMBER: 1188518 THE RETTENDON ALMSHOUSE CHARI FINANCIAL STATÉMENTS FOR THE YEAR ENDED 30 JUNE 2024
THE REEND(M¥ AtMSHOUSE CHARITY CONTÉNTS OF THE FINANCIALSTATEMENT5 FOR THE YEAR ENDED 30 JUNE 2024 PaEe Report of theTrustees Independent Examlner's Report Statement of Flnamcial Actlvitles Balance Sheet Notes to the Flnanclal Statements 7 to 16 Detalled Statement of Flnanclal Actlvltles 17
THÉ RErrENDON ALMSHOUSE CHARITY REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 30JUNE 2024 The Trustees present thelr report along wth the fina[81 statements of the charity for the year ended 30 June 2024. The trustees have adopted the prO570n$ ol the Statement of Recommended Practice ISORPI 'Accounting and Reportlng by Charttles" in preparlng the 3nnual report and financial statements of the charlty. rhe flnanclal statements have bn prepared in accordance with the ac(ountlng pollcles set out In notes to the accounts on page5 7 to 9 and comply with the charity's governing document, the Charltles Act 2011 and Accounting and ReportSng by crItIes.. Statement of Recommended Pra£tlce appticable to thltles preparlng their accounts In accordance wlth the Flnanclal Reportlog St3nd3rd applic8ble in the UK and Rerxibllc of Ireland publlshed in October 2019. oBJEIVEs AND ACTIVITIES Obledfjvp$ and #Ims The oblect of the Charity Is the prOsE0n of almshouses for the beneflt of resldents whose quallflcatlons shall be poor aged persong who, except in speclal cases to be approved by the Charlty CommissSoners, are Inhabltants of the Part5h of Rettendon. Appllcatlon of Income The net Income s17311 be applied first to repair. Insure and meet all other outEoing5 In respect of the Charity's properties and all proper costs of the Charlty's aLlminlstration and management. Thereafter net iome shall be applied for the benefit of the almspeople of the Charlty. Slgnlflcant a£tlvlties The Charity currently prowide5 flve almshouse properties and Its alm is to utlllse these as far as posslble to meet the objectives ofthe Chity. Publlt benef These activlties are consldered to be for the pU1C beneflt and In rur7nlRg the Charity theTrustees have regard for the Charlty Cc*nmlsglon guidance on publlc benefit. ACHIEVEMENT AND PERFORMANCE Charitable actlvltles Followlng The Rettendon Almshouse Charlty Property Planning Framework Items Identifled in 2022, Trustees continued to consider the best sustainable heatlng solutions to replace the èglng ele£trlc heaters and sub-standard Insulation. To that end a Quinquennial Report was commlssloned from Munday and Cramer Architectural and Bulldlng SuNeyors. Apait from the dated heattng systems the propErtles were largely tn a good conditlon. Trustees weie pleased to welcorne a newTrustee, Ms Sally Player, who was appolnted on 16th january 2024 FINANaAL REVIEW Flnan£lal posltEon The Charky's flnanclal posltion Is as set out In the Balance Sheet on page 6 and15 cons5d2red 5atisfactDry. ReseNes pollcv The Charlty'5 pollcy on reseeS Is to maintaln svffldent reseryes to enable the Charlty to contlnue to achleve Sts prlnclpal oblectwes.
THE RETfENDON ALMSHOUSE CHARITY REPORT OF THETRUSTEES FOR THE YEAR ENDED 30 JUNE X124 FUTURE PLANS To address the global warmlng trlsls, energy wast38e and re%denV5 concern5 around increaslng and unaffordable eneY bills by malntalnlw and improving the fzbric of the Almshouses In as sustainable tnLI eco-friendly way a5 posslble, speclllcally in the immedlateterm.. to replace the inefflc4ent, falling, and aged nlght Storage heate¥s.' to updrade the smoke alarms by in5talllng AICO main5 Ilnked smoke alarms and heat detectors wlth tamper proof batterlesto all properties and provide Fire Alarm Installatlon certificates, To utlllse the Quinquennlal report to better budget for planned improwements oudined in the The Retten(k)n Almshouse charlty Property Planning Frameworl and reduce funds Expended on unplanned and emergency repalr5. STRUCTURE. GOVERNANCE AND MANAGEME Governlng document The Charfty isBoverned in accordance wlth a constltution dated 12 Mèrch 2020. Recrultment and appolntment of newtrustees A5 vacancies lor Trustees w15e appllcatyons are sought from potentlal candidates knrmm to the TrvsteÈs and other suitable local people. Applicant5 are tlien considered by the Trustees and appolntments made by resolutlon of the Trustees. Organlsatlonal stru¢ture Day to day adminlstratlon of the Charity is carrled out by the Clerk who repart5 to the Trustees. Indurtlon and tralnln8 of newtrustees New Trustees are brleled by the Clerk 2nd the existlng Trustees on the history and activitie5 01 the Ch2rity. They are provlded with a copy of the Charlty Commlsslon publicèt4tsn"The Es5entil Trustee" detailing thelr r@sponslbilities ar*d provlding REEldatEce on being a Trustee. New Trustees are provlded with a copy ol the Charlty scheme and the late5l accounts Related partles TherE are no other charities related to the Rettendon rn$hOUSe Charlty. The Clerk to the Charitv 15 also Clerk to other alm5hou5e charities. Rlsk managpment The trustees have a duty to idenllfy and review the risks to whlch the charlty Is exposed and to ensure approprlate controls are In place to provlde reasonable assurance a8alnst fraud and error. Through the employment of profes51onal advisor5 the Trustees seek to ensure thèt a11 of the Charity's management and declslon maklng process take lull account of, and comply with, relevant IEgislatitsn and regulatory control5. Insurance includlng propertyownershlp and public118blllty Is reassessed annuallv. REFERENCE AND ADMINISTRATIVE DETAILS Reglsteied Charlty number 1188518
THE RÉrrENDON ALMSHOUSE CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30JUNE 2024 Prlnclpal address clo Clare Heyes 18 Newbrldge Hlll West Bergholr Colchester Essex C06 3ER Trustees Mrs P Srnlth Mrs K Mundoy- Ch8lr Ito 16161241 M Flemin8- Chalr (from 16161241 Dr SAlexander J Hopes Ms S Player lappointed 16161241 INdependenl Examlner Simon Welllng Certlfied Accountant Haines Watts Town Wall House Ba,'kerrie 4111 Colchester Ess C033AD Clerk to the Charftv Mrs C Heyes 18 Newbr5d8e Hill West Bergholt Colchester E55ex C06 3ER Approved by order ol the board of trustees on . and slgned on It5 behalf bv.. M F1eming- Trustee
INDEPENDENT EXAMINER'S REPORTTO THETRUSYEES OF THE RETtENDCIN AtM5HOUSE CHARITY Independènt examlnw's report to thetrye¢S of The Rettendon Almshouse Charlty I report to the charley trustees on my examination ol the accounts of The Rettendon Almshouse Charlty (the Trustl lor the year ended 30 June 2024. Responslbllltles and bas15 of report As the charity tiustee5 of the Trust you are rponsIble for the preparation of the accounts In accordance wlth the requirements of the Charities Act 20111'the A¢t'l. I report in re5peci of my examination ol the Trust'5 accounts carrled out under Section 145 of the Act alld In carrying out my examinatlon I have followed all applicable Dlrectlons 8lven by the Charity Commission under Sertion 145lSllbl of the Independent e)tamlner's statement I have completed my examinatSon. I conllrm that no material m3tters have come to my attentlon in Ccpnnectlon with the examinatban giving me cause to belleve that In any material respect.. accountlng records were not kept In rESPÈCt of theTrust as requlred by Sect40n 130 ofthe AtL' or Ihe ac£ounts do not accord with those. records,. or the ac£ounts do fiot comply wlth the 3ppllc3ble reqLtlrements conceming the forrn and Lot)tent of accounts set out in the Charlties (Accounts and Reportsl Re8ulatlons 2008 other than any requirement that the accounts give a trne End falrvlewwhlch Is not a matter considered as part ol an Independent examlnatlon. I have no concerris and have come across no other matters In Connection with the examlnatlon to whlch attentlon should he drawn in this report in order to enable a prcper understandlng olthe accounts to be reachod. Simon Welling Certllied Accountant Haine5 Watts Town Wall House Bzlkerne Hlll Colche5ter Essex C03 3AD Date..
THE RETtENDON ALMSHOUSE CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR TPEEYEAR ENDED 30JUNE 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Endowmpnt lunds Note5 INCOME AND ENDOWMENTS FROM Charitable activltles mshouse actlty 37,557 37,557 33,078 Investment income 2.257 2,257 1,507 Total 39,814 34,585 EXPENDITURE ON Charltable 3Ctlvftles Almshouse activlty li,5 11,165 17,249 18,649 28,649 17,336 Net galns on investments 15,074 2.580 17.654 5,924 N]NComE 43,723 2.580 46,303 23,260 othw recognised galnslllossesl Gains on revaluation of fixed assets 24,497 24,497 274,645 Net MoVemt In funds 68,220 2,580 70.8 297,905 RÉCONCILIATION OF FUNDS Total funds brtsught forward 4222,898 194,660 171,617 1,589,175 1,29L270 TOTAL FUNDS CARRIED FORWARD 1,291,118 194.660 174,197 L659.975 1,589,175 CONTINUIN6 OPERATIONS All Income and expenditure has arisen from contlnulng activitie5. The notes form part of these flnanclal statements
THE RETfENDON ALMSHOUSE CHARITY BALANG SHEET 30 JUNE 2024 ZD24 Total funds 2023 Total funds Unrestricted funds Restrlcted funds Endowment fndS Notes FIXED ASSETS Tangible aJiets Investments io li I,OJf4,675 148,980 194,660 140,0011 J4,197 1,389,335 183,177 IU 165.522 1.203,6S5 194,660 174.197 1,572,S12 1530,360 CURRENT ASSETS Debtors Cash Jt bank 12 1,71D 90,624 1,710 1.361 61,037 92,334 92,334 62,398 CREDITORS AmDunts falling due wlthln orse vear 13 14,8711 14.8711 13.5831 NET CURRENT ASSETS 87,463 87,463 YOTALAsss LESS CURRENT LIABILITIES 1,291,118 194.660 174,197 1,659,975 1.589,175 NET A55ET5 1,291,118 194,560 174,197 1,859,97S 1,589,175 FUNDS UrErestricted funds Re5trlcted luThds Endowment funds 14 1,291,118 194,660 174.197 1,222.898 194.660 171,617 roYAL FUNDS 1,659,975 1,589,175 The linancial statemÈnts were approved by the Board of Trustees and authorised for Issue on and were signed on Its behalf by,. M Flemlng- Trustee Kmu Truste e notes fomi part of these flttsncial statements
THE REENDC AUVISHOUSE CHARir NOTES TO ThE FINANCIALSTATEMENTS FOR THEYEAR ENDED 30JUNE 2024 TRANSFER OF ENGAGEMENTS On l July 2020 the actItIeS, assets, liablllties and funds and reserves of The Rettendon Almshouse Charlty (charity Reglstratlon Number 11803371. referred to In these financlal statements as '(Ad £harlty were transferred to thls Chwitv. ACCOUNTING pouaES Basls of preparln8the flnan¢lal statements The charityconstlwte5 a publlc benefit entlty a5 defined by FRS 102. The accounts have been prepared in accordante vAth Accounting and Reporti by Ch<(es.' Statement of Recommended Practice ISORPI applicable to charltles preparing thelr accounts in accordance wlth the Financial Reportlng Standard applicable Ill the UK and Republic of Irelènd issued in October 2019, the Flnanclal Repotting Standard applicable in the United Kln8dom and RepublK of Ireland IFRS 1021. the Charities Act 2011, and UK Generally Accepted Accoyntlng Practice. The financlal statements have beeu prepared undpr the historical cost Conven0 wlth the exceptlon of investments and freehold properties whlch are included * market value, as modified by the revaluation of certaln assets. Fund Accountlng Unrestricted funds can be used In atcordance wlth the charitable oblectlves at the dlscretion of the trustees. Designated funds are unrestrlcted funds of the charlty whlch the trustees have declded at their discretion to Set aslde to vse for a speclllc purpose. Restrlcted funds can only be used for partlcular restricted purp05e5 Wlthln the objects of the charity. Restrictlons arise when specifled bythe donor or when funds are raised for particular restricted purpose Pormanent endowment tunds are non-expendable fund5 which are normally held indefinltely. Further explanatlon of the nats¢re and purpose of e¥h fund Is Induded Sn ihe notestothe *inanci31 statements. Golng ¢onceYn The accounts are prepared otTr a golng concern basls as there are no materlal uncertslntles about the Charity's abllty to contlnue. Income All Income Is recognlsed In the Statement of Flnanclal Activitles onte the charity has entidernent to the fund4 It is pyobable that the Income wll be receed and the amaunt C3n be measured reliably. Income from governmeni and other grants, whether 'capital' grants or 'revenue' grant5, Is recognlsed when the Charity has entitlement to the futmls, any performance conditbOn5 attached to the grant5 have been met, It is prolkblethatthe Sncome wlll be recelved and the amount can b8 measured rellably end Is not deferred. For legBc4es, entitlement Is taken 35 the earlier ol the date on whkh either: the Charlty Is aware thzt probate ha5 been granted, the estate has been flna115ed and notilic3tion has been madE by the executoylsl to the Charity that a d1strltti0n wlll be made, or when a d15tributton Is recelved from the estate. Donatlons and other voluntary income are reflected In the accounts for the period In whlch they are ieceived. Donatlons In kind are recognlsed by the Charity when recelved except in the case of seNices provided free or undervalue byvoluntary Staff or others whlch are not reflected in the ?ccounls.
THE RETtENDON AiM5HOUSE CHARITY NOTESTO THE FINANCIALSTATEMENTS-contlnued FOR THEYEAR ENDED 30JUNE 2024 ACCOUNTING POLICIES- contiThued Interest Recelved Interest on funds held on deposit is Included when rece(vable and the OUnt can be measured re15ab5y by the Charity,. th15 Is normally upon notificatlon of the intere51 pald or payable by the 83nk. Expendlture LSabllities are recognlsed a5 expenditure as soon as there Is a legal or cop5tructive obligation commlttlng the charity to that expendlture, It is probable that 3 transfer of economic benefits wlll be required In settlement and the aK)Unt of the obllgation can be measured reliably. Expenditu¥e Is accounted for on an accruals basls and has been classlfSed under headings that aggregate all cost related to the categ(xy. Where cosig cannot be directly atttibjted to particular headlngs they have been allocated to actlvltles on 2 basis conslstent wlth the Use of resources. ftepalrs and Malntenance of Pyopertles The charges In the Statement of Rnanclal Activitles In respect of Cyclical Malntenance and Extraordinary Repairs reflect the Trustees, constant concern to keep the propertie5 In good conditlon. Transfers are made from the Income Account each year to the Extratsrdlnary Repalr Reserve to cover extraordin3ry repalrs as thev arise and to the Cyclical Maintenincy Reserve to cover repair5 which zrSsE on a cyclKal basls. Support Costs The Charlty'5 gover(tance costs are allocated entlrely to th2 Almshouse C05tS since support costs relating to other actlvlties ae consldered Immaterlal. Tanglble flxed a$5ets Houslng Propertie5 The housing propertles are ihcluded In the acc04Jnts at thelr Insurance reinstatement value. Addltions after eaih revduation are Included at tost untll a further revaluadon. The c05t of refvrblshment and Improvements to the exi5tlng property are wrltten off to Gene1 Fund as Incurred. Any malorlmprovements or extensions tothe property are cwitaised. Revaluations a performed with sufficlent regularlty to ensure that the c¥Wng amounts ale not materlally m*sStatèd and on this basig are not depreclated. Investments Investments are shown on the Balance Sheet at thel¥ market value. Changes In market values durlng an accounting perlod are reflected In the accounts a5 unreallsÈd gains or losses. Upon disposal of an Investment the dillEnCe between original cosr and disFK)5al proceeds 55 rellected in the accounts as a reallsed gain or Ios5 and an adjustment is made to unrealised gains or losses to reverse unrealised movements In value In earlleryears. Debtors ContrlbutSon and other debtors are recognlsed at the settlement amount due. Prepaymersts are valuecl at the amount prepald net of any trath d15counts due. Cash at Bank Cash at bank 3nd cash In hand Include5 cash attd short term hlghly Ilquld Investrnents wlth a sh(wt maturity of three months or less from the date of acquisltitsn or opening ol the dep051t or slmllar account.
THE REENDaN ALMSHOUSE CHARrrY NOTE5 TO THE FINANCIALSTAT£MENTS- contlnued FOR THE YEAR ENDED 30JUNÉ 2024 ACCOUNTING POLICIES- contlnued Ciedltors and Provl$lon5 Creditors and provisions ale recognised where the Charlty has a present obll8atlon resultlng from a past event that wlll probably result In the transfer of funds to a thlrd party and the amount due to settle the obligation can be measured or estlm£ted rdlably. Creditors and provisions are normally recognlsed at ihelr settlement amount after allowing for any trade dlscounts due. Taxion The chlty Is exempt from tax on Sts charltable activilles. INVESTMENT INCOME 2024 2023 Charlfund incc¥ne shares COIF 5ncomeshares COIF deposit account Interest 591 916 919 730 1257 1,507 INCOME FROM CHARITABLE AcfiviTIES 2024 2023 AlmshOe activlty Contribution5 recelvable L055e5 from vacancies 37.557 35,759 12,6811 37.557 33,078 CHAAITABLE ACTIVITIES C05rs D1ct Costs (see note 61 support costs Isee note 71 Totals Almshouse &tivlty 3,934 7.231 11.165
THE REENDON ALMSHOUSE CHARITY NOTESTO THE FINANCIAL STATEMENTS- conllnued FOR THE YEAR ENDED 30JUNE 2024 DIRE COSTS OF CHARiTABLEAcfiviTIES 2024 2023 Watercharges Insur8nce Electricitv Repairs and maintenance Cycllcal repalrs Gard&ning CarÈline Sundry expenses 92 i.llz 715 67 951 769 6,314 2,258 1,080 1591 62 I,iou 50 3.934 11.442 SUPPORT COSTS Governan Costs Management Totals Almshouse actlvitv 3,634 3,597 7231 Support Costs. included In the above, are as follows: 2024 Almshouse activlty 2023 Total ctlvltles Clerk's fees and expenses Subscrlptions Independent examlnalon fees Accountancy fee5 Legal and professlon?I fees 3,SOO 134 283 1,307 2,007 3,792 153 278 1,284 300 7,251 5,807 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or othe¥ benefsts lor the year ended 30June 2024 nor for the year ended 30 June 2023. Trustees, expenses There were notrustees, expenses paid for ihe year ended 30 June 2024 nor lor the year ended 30 lune 2023. -iO-
THE RETfENDIJN ALMSHOUSE CHARITY NOTESTO THE FINANCIALSTATEMENTS-contlnued FOR THE YEAR ENDED 30JUNE 2024 COMPARATIVES FOR TPIE STATEMENT OF FINANCIAL AcnviTIES Unrestrfcted funds Restrlcted funds Enclowrnent fuE7ds Total funds INCOME AND ENDOWMENTS FROM Charltable artlvilles Almshouse activ¢ty 33.078 33.078 Investment income 1.507 L507 Total 34,585 34,585 EXPENDITURE ON Charltable artlvltles Almshouse activity 17,249 17.249 17.336 17,336 Net 8alns on Investments 4,965 959 5,924 NEf INCOME 22,301 959 23,260 Other Yeco6n15ed galnslllosse51 Gains on revaluatlon of fixed assets 274,645 274,645 Net movement In fvnds 296.946 959 297,905 RECONCILIATION OF FUNDS Totsl funds brought forwayd 925.952 194,660 170,658 1,291,270 TOTAL FUNDS CARRIED FORWARD 1,222,898 194,660 171,617 1,589.175 iu. TANGIBIE FIXED ASSETS FIou51n8 propErtlES COST OR VALUATION At l July 2023 RevaluBtSons 1.364.83B 24,497 At 30 June 2024 L389,335 BOOK VALUE At 30June 2024 L3g9,135 At 30June 2023 1,364,838 -11.
ThE ftETrEND ALMSHOUSE CHARITY NOTES TO THE FWANCIALSTATEMENTS- contknued FOR THE YEAR ENDEO 30JUNE 2024 io. TANGIBLE HXÉD ASSETS- contlnued The Trustees revalued the buildlngs dur1 the year ended 30 June 2024 at £1,249,335 being thelr Insurance reln5tatement value at that date. The value of the land remains at £140,000. Cost or valuatlon at 30June 2024 Is rewesented by.. ($1£ propertles Accumulated ievaluatlon Sn g3ins C05t 017,965 371,370 L389335 ii. FIXED A55ET INVESTMENTS Listed investments MARKET VALUE At I July 2023 Revaluations 165,522 17.655 At 30 lune 2024 183,177 BOOK VALUE At 30 June 2024 183,177 At 30June 2023 165,522 There were no inv&strnent assets outslde the (JK. Cost Dr valuation at 30 June 202415 represented by: Llsted Investments Accumulated revaluation in garn5 Cost 97.130 86M47 183.177 -12-
THE RETtENDON ALMSHOUSE CHARITY NOTESTO THE FINANCIALSTATEMENTS- contlnued FOR THEYEAR ENDED 30 IUNE 2024 12. DEBTORS: AMOUNTS FALLING OUE WITHIN ONE YEAR 2024 2023 Contribution arrews Prepayments and accrued incotne 267 1,443 1,278 1,710 1,361 13. CREDITORS: AMOUNTS FALLING DUE IhnTHIN ONE VEAR 2024 2023 Contribution re(eived in advance Accruals 3nd deferred income 9SI 3,920 1,689 1,894 4,8n 3,583 14. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 30.6.24 At 1.7.23 Unrestrlcled fund5 IncomeAccount Hou51ng Property Reserve Hou51n8 Property Revaluation Reserve CyclScal Malnt@n3nce Reserve Extraordlnary Repair Reserve 68,343 76,710 953,468 60,411 64,966 32,187 IIL0201 89.SlQ 76.710 977.965 70,9BO 75,953 24,497 5,549 5,987 5,02Q 1,222,898 68,220 4291.118 Restylrtedfunds 5oclal Housing Grant Fund Natlonal As5(xSatlon of Almshouses Grant Fund 173,6fj0 173,660 21.000 21,OLVJ 194,660 194.660 Endowmeni fvnds Permanent Endowment Fund Permanent Endowment Fund Revaluatlon Reserve 131,617 2.580 114.197 40,000 40,(KIO 171,617 2.580 174.197 TOTAL FUNDS 1589.175 70,800 1.659,975 -J3-
THE REThENDON AIMSHOUSE (HARITY NOTES TO THE FINANCIAL5TATEMENTS- contlnued FOR THE YEAR ENOED 30JUNE 2024 MQVEMENT IN FUNDS- contlnuèd Net Movent In funds, included in the above are a5 follows.. Incomlng re50urce5 Rosource5 expended Galns and losses Movernent in funds Unrestrltted fund5 Income Acc¢)unt HouslnB Property Revaluation Reserve Cyclical Malntenance Reserve Extraordlnary Repalr Reserve 39,814 111,16SI 3.538 24,497 5,549 5,987 32,187 24A97 5,549 5,987 3914 111,1651 39,571 68.220 Endowment fvnds Permanent Endowment Fund 2,580 2,580 TOTAL FUNDS 39.814 11.1651 41151 70,800 Comparatlvesfoy movement Sn funds Net movement In funds Transfers between funds At 30.6.23 At 1.7.22 Unrestrlrted fud$ Income Account Hou51ng Property Reserve Hou51ng Property Revaluatlon Reserve Cycllcal Maliitenance Reserve Extraordlnwy Repair Reserve 57,651 76,710 678,823 57,118 55,650 20,962 110.2701 68,343 76,710 953,468 60,411 63,966 274.645 19771 2,316 4,270 6,0 925,952 296,946 1,222,898 Restrltted funds
clal Houslw Grwt Fund Natlonal Association of AItH5house5 Grant Fund 172,660 173,660 21,0 21,000 194,660 194,660 Endowment*unds Permanent Endowment Fund Permanent Endowment Fund Revaluation Reserve 130,658 959 131,617 40,000 40,000 170,658 959 171,617 TOTAL FUNDS 1,291,270 297,905 1,589,17S -14-
THE RETfENDON MMSHOUSE CHARITY NOTESTO THE FINANCIAL STATEMENTS- contlnued FOR THEYEPA ENDEO 30JUNE 2024 14, MOVEMENT IN FUNDS- contlnued Comparative net mavement in fund5, Induded In thE above are as follows.. Incoming resources Resource5 Èxpended Galns and 105se5 MOvemt In funds Unre5trlcted fund5 IoMe Account Houslng Property Revaluation Reserve Cycllcal Maintenance Reserve Extraordlnary Repalr ReseNe 34,S85 114,9911 1,368 274.645 1,281 2,316 20,962 274,645 19771 2,316 12,2581 34,585 117,2491 279,610 296,946 Endowment fvnds Permanent Endowment Fund 959 959 TOTAL FUNDS 34,585 117,2491 280,569 297,905 Reserves IncomeAciount The Fund represents accumulated surpduses of the Charlty and Is avallabie for the general purposes of the Chirity. Houslng Property Reserve Th15 Reserve ¥eyre5etTrts the cost of the Charlty's houslng wopert1È5, Èxduding the charity'5 land. Changes In the net book value excluding the surplus on revaluatlon ol the housin8 properties are reflected in the Houslng Property Reserve by a transfer from or to the Income Account of an amount equal to the change In the accounting period. Houslng Property Revaluatlon ReseYvE Th15 reserve represents the surplus on revaluatlon of the Charity's Housing propertles. Cycllcal Malntenance Re5eYve The Cycllcal Malntenance Reserve is unrestricted but deslgnated by the Trustees For futwe recurring malntenan¢e as netesgary atthe Charv,5 properties. A transfer Is made from the Income Account each year to the Cycllcal Malntenance Reserve to cover cyclical repalrs as they arlse. The annual transfer Is Inclusive of Income attrlbutablÈ to InvestÉd funds. Extraordlnary Repalr Re5eNe The Extraordinary Rep31r Reserve Is unrestricted L*Jr deslgnated by the Trustees lor future rnalor repalr5 and Improvements to the Charity's prOptIes. A transfer is made from the Incotne Account each year to the Extraordin Repalr ReseNe to cover extraordinary repairs as they arise, The annu31 transfer1s Inclusive of Income attrfbutable to Invested funds. Soclal Houslng Grant Fund The 5oclal HouslnE Grant Fund Is a reslricted fund and represent5 the grant recelved of £173,600 during the year ended 18 October 1992 In connection with the hous¢n8 property Imprtsvements less the proportion of depreclatlon charged each year relatlng to thls funding. -15-
THE RETtENDON ALMSHOUSE CHARITY NOTESTO THE FINANCIAL5TATEMENTS- Contlnued FOR THEYEAR ENDED 30JUNE 2024 MOVEMENT IN FUNDS-contlnued Natlonal Assoclatlon of Almshou5e5 Grant Fund The National A5soclation of Almshouses Grant Fund Is a rtrIcted fund and represents ihe Erant received of f 21,CKJO duringtheyear ended 18 October 1992 In connectlon with the housing property Improvanents. Permanent Endowment This is represented by the Cliarity's land, asvalued by the Trustees In 1990 before Yedevelopment commenced togethw with the permanent endowment Investments. Permanent Endowment Revaluatlon Reserve This reserve repre5erts the surplus on revaluatlon of the Charity's land. 15. HELATED PARTY DISCLOSURES There we¥e no related partytran5actsonsfor the year ended 30 lune 2024. -16-
THE REEND(IN ALMSHOUSE CHARITY DgfAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30JUNE 2024 2024 2023 INCOME AND ENDOWMENTS Investment IncLFmè Chèrifund Income shares COIF Income shares COIF deposlt aCCot Interest 608 919 730 591 916 2,257 L507 chayltable artlvltles Contrlbutlons recelwable Lo55es from vatancles 37,557 35,7S9 12,6811 37.557 33,078 Total Incomlng resources 39,814 34585 EXPENDITURE Charltable acllvltles W3ter charges Insurance Electricity Repairs and rnaintenance Cyclical repairs Gardeni Careline sundry expenses 92 1,112 715 865 67 951 769 6,314 2,258 1,080 1591 62 1,100 so 3.934 11,442 Sw)port cost5 Management Clerk's fees Bnd expenses Sub5criptfons 3.50D 134 3,792 153 3,634 3,945 Governance costs Independent examlnatlon fees Accounta¥ fees Legal and professlonal fees 283 1,307 2,(K17 278 1,284 300 3.597 1,862 Total resources expendEd 11,165 17,249 Net In¢oMe 28,649 17,336 This page does not form part of the statutory fln3ncial Statements -17-