**THE ALMSHOUSE CHARITY OF SIR JOHN OFFLEY** **REGISTERED CHARITY NO. 1192182** **FINANCIAL STATEMENTS** **FOR THE YEAR ENDED** **31[st] DECEMBER 2024** **THE ALMSHOUSE CHARITY OF SIR JOHN OFFLEY** Page 1 **FINANCIAL STATEMENTS FOR THE YEAR TO 31[st] DECEMBER 2024** **INDEX** Report of the Trustees 2 - 4 Independent Examiner’s Report 5 Receipts and Payments Account 6 Statement of Assets and Liabilities 7 **THE ALMSHOUSE CHARITY OF SIR JOHN OFFLEY** Page 2 ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[st] DECEMBER 2024** The Trustees present their report and accounts for the year ended 31[st] December 2024 The Almshouse Charity of Sir John Offley registration no. 119182 is a constituted Charitable Incorporated organisation registered on 5[th] November 2020. ## **Objects of the Charity, principal activities and organisation of our work** The principal object of the Charity is to provide almshouse accommodation in property owned by it at Station Road, Madeley, Staffordshire, 1& 2, Greyhound Cottages, Madeley ,Staffordshire and Pool View Cottage, Madeley, Staffordshire. The Charity operates under a Scheme approved by the Charity Commissioners on 24[th] April 1969. In accordance with the constitution, there should be not less than three nor more than five appointed trustees, one ex officio trustee and one nominated trustee and are assisted by a Clerk who is employed part-time. The Scheme also includes the Charity of Martha Halmarack, the two Charities being operated in conjunction with each other. ## **Review of activities this year and future plans** The Trustees are satisfied that the Charity's objectives were fulfilled in the year, with a high percentage of occupancy having been achieved in the eleven almshouses available. ## **Statement of Trustees' responsibilities** Housing Association and Charity legislation require Trustees to prepare Financial Statements for each financial year, which give a true and fair view of the state of affairs of the Charity as at the end of the financial year and of the surplus or deficit for that period. In preparing the Financial Statements, suitable accounting policies have been adopted and consistently applied, to the best of the Trustees' knowledge and belief, by reference to reasonable and prudent judgements and estimates. Applicable accounting standards have been followed. The Trustees are responsible for maintaining adequate accounting records, for safeguarding the assets of the Charity and for preventing and detecting fraud and other irregularities. The Trustees are also required to indicate whether the Financial Statements are prepared other than on the basis that the Charity is a going concern. ## **THE ALMSHOUSE CHARITY OF SIR JOHN OFFLEY** Page 3 **REPORT OF THE TRUSTEES (CONT.) FOR THE YEAR ENDED 31[st] DECEMBER 2024** ## **Risk management** The Trustees acknowledge their responsibility for risk management. The major risks to which the Charity is exposed, as identified by the Trustees, have been reviewed and systems established to mitigate those risks. ## **Designated Reserves** Funds are maintained for the maintenance and improvement of the Charity's property as authorised by Charity Commissioners' Orders dated 1[st] December 1976; namely the Cyclical Maintenance Fund, and the Extraordinary Repair Fund. ## **Trustees** The Trustees who served during the year were:- Mr. S. Clifford Mr. T Downs Cllr. S. White (Resigned November 2024) Mrs. J. Lewis Mrs. S. Eaton Rev. T. Watson Cllr. J.P. Whitmore ( Appointed November 2024) The Scheme provides for the following Trustee appointments:- One Ex-officio Trustee, being the Vicar for the time being of the Ecclesiastical Parish Of All Saints, Madeley. One Nominative Trustee, appointed by Newcastle-under-Lyme Borough Council, serving for a term of four years. Four Co-optative Trustees, being persons residing or carrying on business in or near Madeley, and serving for terms of five years. ## **THE ALMSHOUSE CHARITY OF SIR JOHN OFFLEY** Page 4 ## **REPORT OF THE TRUSTEES (CONT) FOR THE YEAR ENDED 31[st] DECEMBER 2024** **Clerk to the Trustees** J J Sheridan Birchfield London Road Woore Crewe Cheshire CW3 9SQ **Bankers** The Co-operative Bank plc P.O. Box 250 Skelmersdale WN8 6WT. **Independent Examiner** David Birkin FCA David Birkin & Co. 155 High Street Wolstanton Newcastle Staffs. ST5 0EJ ## **Approval** This report was approved by the Trustees and signed on their behalf by ……S.N.Clifford…………………….. T.B.Downs …………………………. ## **Date : 03/03/2025** ## **THE ALMSHOUSE CHARITY OF SIR JOHN OFFLEY** Page 5 ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES** I report to the trustees on my examination of the accounts of the charity for the year ended 31[st] December 2024which are set out on pages 6 & 7. ## **Respective responsibilities of Trustees and Examiner** As the charity trustees, 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 2011 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 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 which gives me cause to believe that in, any material respect: - accounting records were not kept in accordance with section 130 of the Act or - the accounts do not accord with the accounting records I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. David Birkin FCA David Birkin & Co. 155 High Street Wolstanton Newcastle Staffs. ST5 0EJ David Birkin F.C.A ## **Date :25/06/2025** ## **THE ALMSHOUSE CHARITY OF SIR JOHN OFFLEY** Page 6 ## **RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31[st] DECEMBER 2024** |**£**
**Receipts**
Residents’ Maintenance Contribution 51,163
Bank Deposit Account 989
Investment Withdrawals -
Newcastle Borough Council Grant -
Almshouse Association Loan 50,000
NAACIF Investment Income2,735

**Payments**
Council Tax 405
Legal Fees and Stamp Duty 1,201
Insurance 1,915
Subscriptions 432
Clerk’s Salary & Expenses 9,380
Independent Examiner’s Fees 426
Heat & Light 729
Routine Maintenance Expenditure 4,755
Cyclical Maintenance Expenditure 3,980
Extraordinary Repairs -
Survey Fee -
Printing, Postage and Stationery 111
Sundry Expenses 54
Bank Charges 145
Purchase of Freehold Property204,602


**Add/Less :**NAACIF Income Re-invested

**Excess of Expenditure over Income for the Year**
|**2024**

**£**
**£**
44,674
282
136,131
5,000
-
6,737
104,887
-
600
1,613
272
8,400
390
475
6,487
4,822
46,966
900
54
25
120
-
228,135

(123,248)
2,384
£ (125,632)|**2023**
**£**
192,824


71,124
121,700
6,408
£115,292| |---|---|---| ||


















£|



£| ## **Approved by the trustees on 3rd March 2025** **………S.N.Clifford…………………………….S.N. Clifford** **………T.B.Downs…………………………….T.B. Downs** **………J.J.Sheridan…………………………….J.J. Sheridan – Clerk to the Trustees** **Date …03/03/2025…………………………** ## **THE ALMSHOUSE CHARITY OF SIR JOHN OFFLEY Page 7 STATEMENT OF ASSETS AND LIABILITIES AT 31[ST] DECEMBER 2024** ||**At ValuationAdditions during**
**31st March2022Year at Cost**
**£ £**
**Fixed Assets**
**Freehold Properties:-**
2/3 – 10/11 Station Road 960,000
1, Greyhound Cottage 150,000
Pool View Cottage 125,000
2, Greyhound Cottage 204,602

1,235.00 204,602
**Investment Assets**
N.A.A.C.I.F. Units at 1stJanuary 2024

Accumulated Income Re-invested


The market value of the investments
at 31stDecember 2024 was £70,748 (2023 £65,831)
**Cash Funds**
Co-operative Bank
**Net Assets at 31st December 2024**|**At ValuationAdditions during**
**31st March2022Year at Cost**
**£ £**
**Fixed Assets**
**Freehold Properties:-**
2/3 – 10/11 Station Road 960,000
1, Greyhound Cottage 150,000
Pool View Cottage 125,000
2, Greyhound Cottage 204,602

1,235.00 204,602
**Investment Assets**
N.A.A.C.I.F. Units at 1stJanuary 2024

Accumulated Income Re-invested


The market value of the investments
at 31stDecember 2024 was £70,748 (2023 £65,831)
**Cash Funds**
Co-operative Bank
**Net Assets at 31st December 2024**|**Additions during**|**Additions during**|




|





| |---|---|---|---|---|---|---| ||||





|
**Year at Cost**
**£**


204,602
||| |||1,235.00|||
38,938
2,384



**£**|| **THE ALMSHOUSE CHARITY OF SIR JOHN OFFLEY STATEMENT OF ASSETS AN** D **LIABILITIE** S **AT 31[st] DECEMBER 2024 – CONTINUED** ## **Total Assets represented by:-** **Reserves Cyclical Extra Total Ordinary Balance at 1[st] January 2024** 63,317 62,392 125,709 Transfers to Reserves 8,000 8,000 16,000 Expenditure (3,980) (3,980) **Balance at 31[st] December 2024** £ 67,337 £ 70,392 137,729 **Property Revaluation Reserves** |The Freehold properties were revalued at 31st|March 2022||997,482| |---|---|---|---| |**General Accumulated Fund**|||| |Balance at 1stJanuary 2024|298,649||| |Adjustments re Capital Transactions:|||| |Almshouse Association Loan||(50,000)|| |Investment Income Re-invested||2,384|| |Adjustment to Reserves (Net)||(12,020)|| |Excess of Expenditure over Income|(125,632)||| |Purchase and Renovation of Freehold Properties||204,602|317,983| ## **Almshouse Interest Free Loan** |An interest free loan of £50,000 was made from the Almshouse
Association to assist with the purchase and renovation of No. 2
Greyhound Cottage, Madeley. The loan is repayable over ten years
with the first half yearly repayment together with an arrangement
fee of £2,500 on 7 February 2025.
Balance outstanding at 31stDecember 2024

**£**|50,000
1,503194| |---|---|