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 pres￿1 their le￿rt and the Fina￿la1 Ststern￿ ofth¢atwity fvth¢ p¢riod from 1st January 2023 to 31st Del￿￿b￿2023. Th¢s¢ Imve beth tt) indep￿( eX*nir￿l0n 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 Pol￿hla1 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 ￿1fte￿￿ted 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¢ 8￿1 quality ho￿8]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 (A￿￿14￿1 C*nernl Re5ttve) should not exceed one and halfyear's unrestric*d eXp￿dits￿e. TRu￿EFs The Tn￿ who seTred durin8 the puiod w*re 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 J￿n {nominata) H Ke]$0 (nominated J A H Taylor4mith MBE (tK*ninattd) M C H Mountitiy (nominat￿) The oP*￿10n ofthe dwity t$ orried Lmrt by the Tn&ees with the assists￿¢ of the Clerk to the Tn￿re¢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 t￿￿tee5 must live in or work in the Ecclesiastical Ptirith of Crcrkh￿ Hill. C￿opted trustee5 [m￿]muM of 3) are mad¢by the tnth¢s at a sp￿131 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 sta*mer4 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 adeqU￿e a￿o￿nting records for safrguardin8 the &$5¢ts of the Clwity and for taking re￿nable steps for ihe prevention and d¢t#¢ion of fraud and other regul8riti¢s. Th¢ Trustees are also required ￿ Indi￿le where the Finan¢ial Statements are prep8red other than on the basis that the Clwity is a going neern. Signed on beha]f of the Trustees C F K Warde Chair WLSTERHAM ALMSHOUSE CHARITY REPORT OF THE INDEPENDENT EXAMINERS TO ThE TRUSTEES We report tjn the #tcwts of the C￿rity for the ptt￿d 1° January 2023 to 31st Decernber 2023 ￿1th a￿ set out on pages 4 to 9. RespectSv¢ respoMibility¢s of trwtees a￿d tx*mimers The Charity's trustees are responsible forth¢ w¢pa￿lOn of the xcounts. The d￿ty,$ 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 a￿O￿nts 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 partI￿tar mattus hve eLMne kn rny attentiffl. Basi5 of iDd¢p¢ndefjt tx*miners' reporf Our ¢xamIn￿l0￿ 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 i￿l￿deS 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 limi*d ￿ ttThc rnatters set out in the ststement below. Independe41 examlners, ststemtht In conne¢tion with our exèminatior4 rto matr¢r has come ￿ ow atte*tion: which Bives us re￿o￿able couse to believe that in. any m*erial 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 all*rti(￿ should be dTa*n 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 A￿1VITIEs 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 investm￿1 gainsl{losses) -14,868 NET MOVEMENT IN FUNDS 84.394 23,626 Balance brought fonvard 737.058 713,432 ACCUMULATED GENERAL RFSERVE AT 31 D￿EMBER 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 a￿ve 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 Jatt￿lry 20LI t• 31 De¢ember 2023 I. PRINCIPAL ACCOUNTING POLICIFS a) knis 0￿￿0￿￿1¥n￿. The Financial Swements •Te wepwed under the histi)rieal basis of accounting. and in le￿[￿￿¢e with the Fina￿1•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 si￿lf￿nt doubt on the chwity's Ibility to eoniinue Is a 80in8 coIKern. b) Turnover r¢preseDts Mainten￿ c(mtribuiiorA receivable fmm resid￿15 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 ￿lne￿watca ¢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 Or￿tru¥din￿ry. 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 exp￿diture) at least c4￿1 to th¢ r¢¢ which was portially funded by a 8rnnt from the then Housin8 CorpoNion. end a mort8a8e loan of £64.861 advwh¢¢d in Ma￿h 1989 from the some sour¢¢ (secured by a char8e on More￿n$ 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¢¢la*d 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 In￿Stments." 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