WESTERHAM ALMSHOUSE CHARITY REGISTERED CHARITY NO. 1192970 REPORT AIYD FINANCIAL STATEMENTS FOR THE PERIOD I JANUARY TO 31 DECEMBER 2023
WLSTERHAM ALMSHOUSE CHARfTY REPORT OFTHE TRusfEES The Tr¢5 pres1 their lert and the Finala1 Ststern ofth¢atwity fvth¢ p¢riod from 1st January 2023 to 31st Delb2023. Th¢s¢ Imve beth tt) indep( eXnirl0n as rep)rt&l on ppge 3. The CIMrity originally ¢stablisW as Mordon Alm4KrfL5e Clwity by a Trust Deed dated 19 November 1874. It was meT8ed with We¢Tham Polhla1 Charities undera new Twst D¢&J dateA 4 De¢ember 2006 gnd its name was changed io Westerh8m Almsh Ch8rity. which w&% re¥i#ered with the Charity Commission (No. 212065). On 4° January 2021 a CIO was e5tabli5hed and re8iStered with the Clwity CL¥nmission 1192970). On 2P May 2021 the Chtrity Comrn1s5ion grant pennission for the rnubvof th¢ ori8tnaJ charity and the CIO. On 14 July 2021. the Iwo tharities m¢r8rf and the assets were transferr&J from the w)incorpornted dwity (no: 212065) ts5 th¢ CIO (no'.1192970). The 1fteted Charity (No 212Q65) w&$ dere8istered gs of date. The purpose of the Charity remains to provide knusing forthe general knefitof those with limitra means in housin8 need. Durin8 2023 the Charity ha5 coMinu¢d to wovid¢ 81 quality ho8]ng for 17 residents in Westerham without significant vacant periods. Furtherthe Charity c(%rtinues w be able to afford to maintain its prop¢rti¢5 and mtiintsin its reserves for futyr¢ m•intawi¢¢ fr(Kn th¢ fvnd The public address of the Ckny is: ejo Karri>Jn Prnputy. 16 Matk& Squar< Westeth8m TN16 1 AW. RESERVES POLICY Most of the reserves of the Charity are desi eitheras propw Teser4e5 (w reflect fun&5 pemanently inve5tyJ in propety) or as firture repair re5erve5 (to aLrumulate for the rtdium and lon8.tem? maintenance of property). It Is the policy of the Charity to ensur¢ that free re5¢1ves (A141 Cnernl Re5ttve) should not exceed one and halfyear's unrestricd eXpditse. TRuEFs The Tn who seTred durin8 the puiod wre as fOlkn. C F K W•xde (ChairX¢x officio) J P &xrthworth Tr¢&wr¢r M P Basin8 (nominated) Rev D Fox-BrwLth (¢x offi¢io) G J Jn {nominata) H Ke]$0 (nominated J A H Taylor4mith MBE (tKninattd) M C H Mountitiy (nominat) The oP10n ofthe dwity t$ orried Lmrt by the Tn&ees with the assists¢ of the Clerk to the Tnre¢s. The Charity's governance stheme pmvides for th¢ clwes of Tn]sttts who w¢ appinted as follows: Two ex officio trLSteA one isthe Vicarof the Ecclesiastica] Parish of SL Mary. W¢5tetham and one 15 representative of Squtrryts Court and IN)th serve ts trustees as long as they hold their resPKtive offi Nominated trustees (maximum of 4) are Th)minatyJ by the BoArd and s¢rv¢ 5 year 2 of the nominat&l ttee5 must live in or work in the Ecclesiastical Ptirith of Crcrkh Hill. Copted trustee5 [m]muM of 3) are mad¢by the tnth¢s at a sp131 rn¢¢tin8 lled in accordanc¢ with th¢ scheme for a term of S year TRu¥fELS' RESPONSIBILITILS It is the Trnstees. wonsibility ÈX¢PAre statem which 8ive atrue aThJ fAirvi¢w of th¢ stste of affairs of the Ch8rity at the end of each financial yetr aThJ of the swplus ordeficit for th¢ year then ended. In preparing finorKiAI stamer4 the Tnts¢s are required . select suitsble accounting p)licies and appty them c(ffisi&endy: ftjllow applikyble Aco)untir8 Standard% subFct ¢ any thpartW¢sdisclosed and explained in the Financial Statan
pr¢par¢ the Financial Ststements on th¢ going wncern basis unless it is inappropriate to presume that the Charity will continu¢ to opera The Trustees are responsible ftir maintaining adeqUe aonting records for safrguardin8 the &$5¢ts of the Clwity and for taking renable steps for ihe prevention and d¢t#¢ion of fraud and other regul8riti¢s. Th¢ Trustees are also required Indile where the Finan¢ial Statements are prep8red other than on the basis that the Clwity is a going neern. Signed on beha]f of the Trustees C F K Warde Chair
WLSTERHAM ALMSHOUSE CHARITY REPORT OF THE INDEPENDENT EXAMINERS TO ThE TRUSTEES We report tjn the #tcwts of the Crity for the pttd 1° January 2023 to 31st Decernber 2023 1th a set out on pages 4 to 9. RespectSv¢ respoMibility¢s of trwtees ad txmimers The Charity's trustees are responsible forth¢ w¢palOn of the xcounts. The dty,$ Irustees consi¢kr thet an audit is not required for this yezr under seaion 144 of the Ch¥rities Ath 2011 (the ChAritie5 A) and that It is LwrresPTh5ibility to: examine the aOnts under seaion 145 of Chartiies A to follow the pr(edureS laid down in the Genttal Dircctions 8Lven by the Charity Comrnission {und section 145(5Xb) of the Charitits Ae( and io sta wheth¢r partItar mattus hve eLMne kn rny attentiffl. Basi5 of iDd¢p¢ndefjt txminers' reporf Our ¢xamInl0 w&5 carried out in accordanR with the General Dirediors 8iven by the Ch8rity Commission. An examination in¢lude5 a Thiew of the accountin8 k¢M by the dwity and a comparison of the accounts presented with those records. It 8150 ildeS considernion of any unusual iterns or disclosures in the a¢wunts, and s¢¢king explanations fmm th¢ £¢$ concerning eny suth mattus. The pro¢¢durw undenaken do not provide a]1 the evideTtce that would be required in an audil and con5equenily no opinion is gÉYen as to whether the aco)unts pr¢wta'true and fair, view and the r¢iKJrt is limid ttThc rnatters set out in the ststement below. Independe41 examlners, ststemtht In conne¢tion with our exèminatior4 rto matr¢r has come ow attetion: which Bives us reoable couse to believe that in. any merial re5pe4 the requirtments: keep 8ceounlin8 r¢¢ords in accordance with section 130 of the Chtiritie5 Act" to prepare accounts which acmrd wRth the Ka>unting records and comply with the &ccotsntin8 requirem¢nts of th¢ Charities Act have not been meL' or to whid4 in our opiniLM4 allrti( should be dTan in onkr th enable a proper u)detstandin8 of the accounts to be reach CHRISTOPHER CIJ)K BA FCA For and on behdf of C¢)Jk & CO Ac¢ountants LLP Chartered Accountsnts & sr0 Audiior Riversid¢ Business Centre Riverside Hoi River Road Tortbridg¢ Kent TN9 IEP
WEsfERHAM ALMSHOUSE CHARITY srATEMENT OF FINANCIAL A1VITIEs FOR THE YEAR ENDED 31st DECEMBER 2023 Note 2023 21122 INCOMING RESOURCLS Maintenance ¢ontributions Investment and other income l{b) 140.015 34,025 174,040 107.368 20,441 127.809 Total In¢oming resour RESOURCES EXPENDED Intercst payable and similar ch8r8e5 Property and administration costs Routine maintenance Cyclicavextraordinary maintenance Totsl re4our¢es expended 65.556 15,605 .485 89.646 65.640 15,195 8.480 89.315 NET INCOMINC RLSOURCLS 84.394 38.494 TRANSFERS BETWEEN FUNDS NET INCOMING RESOURCES AFTER TRANSFERS 84.394 38,494 Unrealised investm1 gainsl{losses) -14,868 NET MOVEMENT IN FUNDS 84.394 23,626 Balance brought fonvard 737.058 713,432 ACCUMULATED GENERAL RFSERVE AT 31 DEMBER 821,452 737,058 STATEMENT OF TOTAL RECOGNISED GAINS AND iL)SSES There are no recognised gains or lossts other thBn those included in the ave Statement of Financial Activities for the current Feriod.
WESTERHAM ALMSHOUSE CHARITY BALANCE SHEET AT31 DECEMBER2023 Note 2023 2022 FIXED ASSETS Housin8 properties 158.518 158.518 Long tem investments 577.141 544.798 735.659 703J16 CURRENT ASSETS Debtors Cash 8t bank and in hand 2.500 84.477 86.977 4.296 35,193 39,489 CREDITORS Amounts falling due within one year 1,184 -5.747 NET CURRENT ASSETS 85,793 33,742 TOTAL ASSETS LESS CURRENT LIABILITIES 821,452 737.058 CREDITORS Amounts fallin8 due after more than one yeor 821,452 737,0S8 CAPITAL A]YD RESERVES Reserves A¢¢umulaied 8enernl reserve 821,452 821,452 737,058 737 058 These Financial Statements were Approved by the Trusiees on 2610912024 and signed on its behalf by: CFKWarde Trustee5 J P Southworth
WESTERHAM ALMSHOUSE CHARfTY NOTES TO ThE FINANCIAL STATEMENIS for tbe perlod l Jattlry 20LI t• 31 De¢ember 2023 I. PRINCIPAL ACCOUNTING POLICIFS a) knis 001¥n. The Financial Swements •Te wepwed under the histi)rieal basis of accounting. and in le[¢e with the Fina1•1 R¢portin8 Stsnd8rd 102. Th¢ •w)unts ar¢ pr¢pared on a 8QLn8 concern bA5i& as there are rn•tWi wK¢It8inti r¢l4¢¢d to events or cMditsOnS that ¢t silfnt doubt on the chwity's Ibility to eoniinue Is a 80in8 coIKern. b) Turnover r¢preseDts Mainten c(mtribuiiorA receivable fmm resid15 during the year. includin8 chtr8es for li8hi and h¢•L ej Housing Properties Housin8 Propenies are for at AS at 14 July 2021 when the lnewatca ¢hwity w•5 merged into th¢ CIO. The woffties are not deFvKiat¢d u the TIty exp Ill miintrnanc¢ CO Wh incwrnl. See Notè 6 for more dethil. Inveslm¢nts Fixed asset investsnents and current investrnertts are sthttd market value. Invesment incom¢ is •¢¢ount for on an bgsi& Current ass¢t investhwjts reyrded held prinwily ac¢umulA fimds for fiAure repAir co. ) Rep7irexpendiÉ¥r¢ All r¢pAir ¢xpenditrJr4 whdh¢r nyjtinq cycl•cal Ortru¥dinry. is to r¢vfflu¢ ID ¢1 y¢r in which it is incurred. Futhre Repalrs Resmy A ru¢rve 1$ held r¢wesentin8 wnounts s¢t asid¢ ftiroclirAI and ¢Xtr4tydln repairs which become necessary from time w lime durin8 life of the buildin Th¢ wnounts 5¢t g5id¢ •r¢ (¢x¢¢pt in y¢ar5 of h¢avy expditure) at least c41 to th¢ r¢¢<ffiMend by the Almshouse A$110n for the Cyclieal Ind ExtrrdIn repair t£s011c5. Property In31¢1 FUMI This represents the b(KJk vu¢ of woperties owned by the Charity. a¢knowi¢d8es the fact th•t reserves equivlleni thi8 are aVAiIAble in liquid forni. h) value Added Tar The Chjrity 15 not r¢gi4¢r¢d for Valu¢ Adw TAX. In these Financial Ststern eXpdIre is Slwn inclusive of VAT where Rlev•nL TRUSTELS. EMOLUMEKtS AND EMPtnYEE INFORMATIO None of the Trustres r¢c¢iv¢g emolumentj. A total of £5,000 was paid by wy of fe# to the Clerk w the Trus*45 durin8 pffiod. Tlw¢ rb) other employe
WESTERHAM ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS for the period l Janyary 21)23 to 31 December 2023 TAXATION As a regislered chariry, Westerham Almshous¢ Charity 15 ¢xempt ftom liability to taxation on its income and copit•l 8ain& FIXED ASSETS- HOUSING PROPERTIES (FREEHOLD) Moreions Court {Cost) Colltherst Willards (Cost) {Valuation) 2023 Cost or valuAtlon Ai l January 2023 Ai 31 Deeember 2023 33 595 158 518 33 595 158518 Mor¢ton$ Court was ¢onstru¢d In ¢he ¢¢ nineteenth Century. There 1$ no Ye¢ord of the ori8inal co4 and no valu¢ is attributed thuelo. The cost relates to improvements carried oul in earlier years 1£30,3221 and more recently th¢ ¢onveT$lOrt of the existing accommodation to provid¢ 12 s¢lf- ntained op4rtm¢nts1£329.964> which was portially funded by a 8rnnt from the then Housin8 CorpoNion. end a mort8a8e loan of £64.861 advwh¢¢d in Mah 1989 from the some sour¢¢ (secured by a char8e on Moren$ Court). The loan repatd in April 2019. ColltheTSt Almshouxs (in Vi¢•r48¢ Hill, W¢sterhAm ) was renovated reMrbi$h¢d in 1999 to produce three self-contained apartments. The tot&1 co$t was £220,739. partially defray by a of £98,947 from ih¢ then H¢usin8 Corporntion. Willards is a two-unit pr¢p¢rty in New Strert W¢st¢rharn. and is ststed i valuation made in 2000. less subsquent depr¢¢iition. All Properties were tran$ferr¢d to th¢ CIO on 14 July 2021 at the then stated bty)k value which is shown 8bov¢. The properties are rtoi d¢pr¢¢lad ts all maintenance ond improvem¢nts expenses are charpj to ineome by the Ch4rity when incurred.
WESTERH LMSHOUSE CHARITY NOTES TO THE FINANC the riod 1 Janua L STATEMEMT 31 December 2023 Note 5 INVESThIENT AND OTHER INCOf•lE 2023 2022 Interest receivabk from bank d•posit8 umulation sharo income DivKlend inc(%ne Other Irwne 73 18,882 1.305 181 20,441 34.025 34.025 6 FIXED ASSÈTS Fr¢•hofd property Moretons Court Colltherst Willards 67,517 57,406 33,595 158,518 67,517 57,406 33,595 158.518 Total Book Valuo of Pmperty 7 Long term InStments." 577.141 544.798 Tolal ffixed ¥$8ets 735.6Sg 703.316 8 CREDITORS: Amounts folllng du• wlthln on• knounts OMNJ and accruals 1,184 1,184 5.747 5,747 PROPERTY AND ADWNISTrATION COSTS Estalo $ts." Ingurancè Heatlng and lighting Watef eharg•s G8fdenlNJ S•curity Management fa• Other property •Jpèn 5,325 26,944 4,101 2,862 4.221 14,055 5,582 21.384 3.585 3,896 2,690 20.297 554 57,508 57.988 Clerk's lees and eypensès Ind8pèndent Exami$ R8muMratK*n Leg811088 Bank charges Subscriptton Sundries 5,000 1,140 5,000 1,098 45 81 285 1,143 7,652 62 746 1,100 8.048 Total 65.556 65,640