CIO REGisfRATIOM NUMBER CEOa0174 SAMPSOWS ALMSHOUSES ANNUAL REPORT AND UNAUDITED ACCOUIKS FOR THE PERIOD ENDED 29 FEBRUARY 2024 Charity Number 12(*n97 BUSINESS ADVISORS The Granary Hones Yard I Wavedey Lane Farnham Surrev GU9 8BB
SAMPSOWS ALMSHOUSES FINANCIALSTATEMENTS PERIOD ENDED 29 FEBRUARY 2024 CONTENTS PAGE Trustees Annual Report Ito4 Independent examlner's report to the members Statement of financial activitie5 Balante sheet Notes to the financlal ststements 8t013
SAMPSOWS ALMSHOUSES TRUSTEES ANNUAL REPORT PERIOD ENDED 29 FEBRUARY 2024 Thetru5teés present theirannual report and the finanoal statements of the tharitable incorporated orsanisation ICIO) For the period ended 29 February 2024. The financial statements compW with the charity's trust deed, the Charities Act 2011, 2nd the Charities Statement of Recommended Prdctice issued in October 2019 and Financial Reporting Standard FRSIO2. The trustees conlirrn that they have complied wtth the duty in $17 of the Charities Aci 2011 to have due re8ard to the public benefit guidan published by the ljarity Comrni5sion, wfien leWIng the Charity's aims and objectives and in planning future activities. REFERENCE AND ADMINisfRATV4E DETAILS Reglstered charlty name Sampson's Almshouses Chartty retsration number 1200297 CIO MStratIOn number CE030174 Prlncipal offlce 46The Maltings phook Hampshire GU307DG THE TRUSTEES The trustees who served the tharity duringthe period and Since the period-end were 3s follows.. Revd D Uffindell (Chalr. from 9 January 2024llappointed 7 September 20221 Miss J P Clay (Chair. 18 April 2023 to 9 January 2024llappointed 7 September 2022, resigned 9 April 20241 Mr T Browning IU)aSr, until 18 April 2023llappointed 7 September 2022, resigned 18April 20231 Mr D S Todd lappointed 7 Septernber 2022, passed away 31 January 20231 Mr N Marriott laprM)inted 7 Septernber 20221 Ms J Heathcote lappointed 7 September 2022. resigned 17 October 20231 Ms L Clarke lappointed 18 April 20231 Mrs S Leath lappointed 2 May 20231 Mr J Allen (appointed 9 January 20241 Mr M Berezicki (appointed 9 April 20241 Clerk to the Trustees Mr5 A Kettles Princlpal bankers National Westminster Bank plc 39The Boiough Famham Surrey GU9 7NP
SAMPSON'S ALMSHOUSES TRusfEES ANNUAL REPORT PERIOD ENDED 29 FEBRUARY 2024 Independent examlner Mi & P. F. Howell FCCA TC Group The Granary Hone5 Yard I Waverley Lane Farnham Surrey GU98BB Property managÈrs Greenbric Property Management Ltd Clock House Do&fiud Way Farnham Surrev GU97UD OBIEcfivESAND ACTIVITIES The object of the Charitable Incorporated Organisation ICIOI. fornied on 7 September 2D22, is to a55lSt In relieving poverty among people of good chararterwho are connected to the Churc* of England, in particular, by providing such persons wlth almshouse accommodation, wthin the area of Farnham. which they could Thot otherwise afford through lack of means. Applicants should be opable of independent livin8. Housing need is the most important factor in appointingthose who meet theothercriteria to be resldents. These oblectlves fully meet the public benefft require¥nent. Provision ol accommodation to those In housing need is dearly beneficial. The definitions in temis of location and personal circumstsnces are wide enough to covera large number of people sufficient to constitute a public class. The charfty holds in trust, admrnisters and maintain5 the propety and grounds of 1-16 Sampson's Cottage5 Iwidely known as"Samp50n's m$hoUSe$"1, West Street. Farnharn for the use of their residents. ACHIEVEMENTS AND PERFORMANCE We have prepared a review of the Èighteen Month period from 7 September 2022 to 29 February 2024. During the period the Trustees continued their work of property maintenance. Some £63,000 wa5 spent cornrnencing work installing new double glazed windows to the fronts of properties numbered I-S. An additional £13.244 was spentto install newstoraEe heatersto properties 16. The Trustees continued good contact with resldents through regular vistts and gave reassurance and advice tsm thelr wellbeing and property upkeep. There were no significant arrears atthe period end. The Trustees considerthe role of managing agentto be beneficial forthe maintenance of the properties and Grèenbrit Property Management M[ted art a5 the mana8in8 agent. after replacin8 Ed8efield Estztes Managemeni (Farnhaml knmited duringthe period.. rirn Browning continued as (Jair of the Trustee5 and Jo Clay replaced him in April 2023, beFore being replaced by David Uffindell in january 2024. AnThe Kettles is the derk to the Trustoes.
SAMPSOPYS ALMSHOUSES TRUSTEES ANNUAL REPORT PERIOD ENDED 29 FEBRUARY 2024 TRUSTEES, RESPONSIBILITIES STATEMENT The trustees are responsible for preparing the Tru5tees' Annual Report and the finana81 statements In accordance with applicable lawand Llnr(ed ngdoM Accounting Standards (united Kingdom GenerallyAccepted AccountiN6 Practlcel. The law applicable to charities in England & Wales qUireS the trustees to prepare financial statements for each flnancial year which give a true and fair view of the stste of affair5 of the charity aThd of the incoming resources and application of resources of the charTty for that period. In preparing these financial st3tements. the trustees are required to: • select suitable accounting policie5 and then apply them consistently.. observe the methods and principles Fn the Charities SORP 2015 IFRS 1021: make ludgements and estimates that are reasonable and prudent,. State whether applitsble UK Accounting Strandard5 have been lollowed, subject to any material departures disclosed and explained in the finanaal statement5,' ppare the financial statementson the 8oinE concern basis unless it Inappropriate to presurne that the charitywill continue In operation. The trustees are responsible for keeping proper accounb"n8 records that disclose with reasonable accuracy at any tlme the financial position of the charity and onable thern to ensu that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable step5 forthe prevention and detectlon of fraud and other irregularities. This report wa5 approved by the tNstees OD and signed on its beha. Rev D Uffindell Ichairl
SAMPSOKS ALMSHOUSES TRU5tEES ANNUAL REPORT PERIOD ÉNDED 29 FEBRUARY 2024 FINANCIAL REVIEW At the end of the period, the chariLVs re5eNes show a balan of £1870.542. The fe reserves available to the tharity totals £257.189. Reserves Poli The charity accumulates funds in the Cydical Maintenance Fund and the Extraordinary Repairs Fund according to the formulae prepared by the Almshouse Association or more if necessary. These are designaièd funds. Each year a transfer is made between these funds and the revenue reserve of the net difference between the sums accuwnulated inthe designated hjnds and theamountsexpended as cyclkal maintenance and extraordinary repairs a5 operatiTrg costs. PLANS FOR FUTURE PERIODS Regular annual rewew5 of the WMC in line with the bud8eting proce55 presu(bed by the Almshouse A550ciation will ensure that the charity is able to faalitate a programme of upgrading the propertles, especially when vacancies arise and placing particular emphasi5 on phased central healing boiler replacements and replacing existing slnglÈ-Blazed windows and upgrading to double-glazed units. STRUCTURE, GOVERNANCE AND MANAGEMENT GOVERNING DOCUMENT Sampson's Almshouses is a charitablè incorporated organisation govemed by its registration with the Charity Commission on 7 September 2022. RECRuMENT AND APPOINTMENT OF TRUSTEES New trustees are appointed bythe trustees from local people with appropriate skllls. ORGANISATIONAL StRucfuRE The charity is controlled by the Trustees. Trustees during the period are detsiled on page l. The trustees have appointed a derk to adfflinisterthe charlty and Its properties. The elerk reparts to the trustees at. at le35t, quarterly meetings, Wlth frequent e-mail and telephone contact between meetin8s as necessary. RISK MANAGEMENT The Trustees have a risk registerfortheir review and comments. The major risks to which the charity is exposed, as Identlfied by the Trustees, have been reviewed and systems have been estsblished to mana8e those risks. INDEPENDENT EXAMINER Simon Howell, FCCA. of TC Group. has been re-appointed as independent examinerfor thÉ ensulng year.
INDEPENDENT EXAMINERS REPORTTO THETRUSfEES OF I reportto the charstytrustreson my examinatK)n of the accountsofthe charity forthe perfjod ended 29 February 2024 which are set out on page5 6 to 13. Responslbllities and basis of report As the charlty trustees you are respon5NI e for the preparath)n of the accounts in accordance with the requirements of the Charit$ Act 20111.the ACVI. I report In respect of my examination of the chariws accovnts (arried out uThJer 5ertK)n 145 of the Act and In arrying out my examination I have follovKd all the appIlb DirectK>ns gv4en by the Charity Commission under section 14515llbl of the Act. Independent examtnerfs statanent I have completed rny examination. I confirrn that r*0 rnatsrial matteTS have come to my attentM)n in connection with the exarnination giving me (au5e to believe that in zny material reSL actounting records were not kept in respect of the chartty as required by seCtn 130 of the ALt- or the accounts do not accord with those records," or the accounts do not compfy with the applicable requirements concerniT¥ the form and content of accounts set out in the Chariknes IAccounts Reports) RegulatK)ns 28 other than any reqUIrnent that the accountsBive a'true and fairview whith fjs nota rnatter considered as part of an indepeThJentexamlnatiors. I have no concerns and have comeacross M othermatte15 in connert40nwiththeexamination to which #ttention should be drawn in this report kn Order to enab a proper understandinE of the accounts to be reached. Simon P. F. Howell FCCA TC Group The Granary Hones Yard I Waverley Lane Farnham rrey GU9 8BB
SAMPSOWSALMSHOUSES STATEMENTOF FINANUAL ACTivmES PERIOD ENDED 29 FEBRUARY 2024 Total Unrestricted Fun(ts 2024 Income and endowments Irom: (Jaritable activitie5 Investments Other intome 168,186 4,498 19,304 Total 191,988 Expendlture on: Chathtable artivities Other expendlture 1220,4291 14981 Total Expendlture 1220.9271 Net 8ainslllossesl on investments 33.893 NÈt incomellexpendlturel 4P54 Net movement In fund5 4.954 RECONCILIATION OF FUNDS: Total funds transferred in 14 2.865,588 Total funds carrfed fonvard 870,542 The Statement of Financial Activitres includes all gains and1055es in Ihe year and therefore a statement of totsl cogniSed gain5 and losse5 has not been prepared. JI of the above amounts relate lo tontinuing aCtNie5. The r•)te5 on pH8e5 8t0 13 forni partofthe5e finandal ststements.
SAMPSOlfS ALMSHOUSES BALANCE SHE 29 FEBRUARY 2024 2024 FIXED ASSErs Tangible assets InvÈ5tments io li 2A94,fXIO 351,915 2.845,915 CURRENT ASSETS Debtors sh at bank and in hand 12 2,344 46,976 49,320 124,6931 CREDITORS.. Amounts falling due wtthin one year NET CURRENT A5sErs 24627 TOTAL ASSETS LESS CURRENT LIA8ILtnES 2,870,542 TOTAL NET ASSETS 2.870.54Z JNDS Unrestrirted income fund5 14 870.542 TOTAL FUNDS 270.542 These flnaniial staternents were approved. and authorisÈd for issue on the ................... their behalf by: and are signed orb Rev D Uffindell Chair ThE notEson pap8 tD 13 forni pgrtofthese fin4nual ststÈMent
SAMPSOWS ALMSHOUSES NOTES TO THE FINANaAL STATEMENTS PERIOD E14DED 29 FEBRUARY 2024 AccouKfiNfj POUCIES Basis of accDuDtlng The financial Statements have been prepared Ub)der the historical cost convention with item5 recognlsed at cost orlransartion value unless OthenSe stated in the relevant notelsl to these accounts. The financial statements have been prepared tn accordance Trmth the second edition ol the Charities Ststement of Recommended Practice issuèd in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Art 2011. Sampson'5 Almshouses was registered as a Charr(able Incorporated Organisatlon on 7 September 2022 and the assets were confirmed Js transferred from the unincorporated charity on 17 April 2023. These are the first financial ststements for the 18-month period of the CIO and therefore, there will not be any comparative information presented. The financial Statements are prepared on a goin8 conrn basis under the hi5torlcal c05t convention, mdified to include certain ttems at fair value. The financial statements are presented in sterllng which 15 the functioftal turrency of the charitsble company and rounded to the nearest £. Samp50n's Almshouses meets the delinition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relent accounting policy notelsl. Goingconwn The Tru5tee5 consider that there are no material uncertainties about the chariws ability to continue as a ¥olng concern. Fund accounting Unrestritted funds are those funds which are available for the use at the discretion of the tnjstees in furtherance of the general objetts of the Charity and which have not been designated for the other purposes. Designated fvnds cornpri5e unrestrtcted ftjnds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the finanaal statements. Incomlng resources All intoming resources are indvded in the ststement of Finangal Attivities when the Charity is legally entitled to ihe income and the amountcan be quantified with reasonable accuracy. Charitable activities Incorne represents maintenance contributiODS Teceived from resldents. Investmènt income is earned through holding assets for investment purposes such as shares. It includes dividends and interesL ft Is included when the amount can be Measured reliabty- Resources expended All expendSture is recoBni5ed once there is a legal or constructive obligatlt)rt to that expenditure, it ts probable settlement 15 Tequlfed and the amount can be measured feliably. All expenditure is accounted for on an accruals basis. Govemance costs intlude the costs of serviang the Trusiee5' rneetin8s and 5ttstegic planning. The charity has established a re8vlar programme of cydical repair5 and maintenance. Costs are tharged to the Cyclical Maintenance Fund, or the Ststement ol Financial Activities in the year in which they are Incurred, according to the discretion of the Trustees.
SAMPSOWS ALMSHOUSES NOTES TO THE FINANOAL STATEMENTS PERIOD ENDED 29 FEBRUARY 2024 ACCOU1ING POLiaES ((ontinuedJ Resources expended l¢ontiRued) The tost of Extraordinary repairs ischarged to the ExtTaordinary Repalrs Fund orthe Statementof Financ4al Activities in the year in whi¢h they are incurred, according to the discretion of the Trustees. Tan8lble fixed assets Thè houslng properties are valued at their rewdlued c05t. Freehold land and building5 are not depreclated, 2S the propertie5 are malntained In a state of repair such that theirestirnated re51dual value Is not lessthan their costs. INCOME FROM CHARITABLE AcnvmES Total Funds Maintenance contrlbutions from residents 168,186 INCOME FROM INVESTMENTS Total Funds Dividend income 4A98 OThER INCOME Total Funds Electriaty refund Gas refund Other income 14,459 4,354 491 19.304
SAMPSOWS ALMSHOUSES NOTES TO THE FINANaAL STATEMENTS PERJOD ENDED 29 FEBRUARY 2024 EXPENDITURE ON CHARITABLE ACTivmES Totsl Funds Heating and liEhting Property rnaintenance Property management fees Cyclical maintenan Garden maintenance Legal and professional fees Insurance Water charges Honorariurn to aerk to the Trurtees Miscellaneous expenses Subscriptions 3nd licentrs Governance costs Isee note 61 54.125 6,183 34.200 86.734 3,302 3.828 1422 5.328 16.660 3.061 917 220,429 ANALYSIS OF GOVERNANCE COSTS Totsl Funds Independent Examinerf5 fees Trustees expenses 1700 969 3,669 OTHER EXPENIXTURE Total Fund5 Bank tharges TRU5TEES' REMUNERATION AND EXPENSES Duiing the period, no member of the Board of Tnjstees receNed any remuneration forthelr setvices. During the period. five trustee5 were reimbutsed £969 for expÈnse5 paid foi on behalf of the tharity. RELATED PAR7YTRANSAcnoNS There were no relateij partytransactions durinethe peiiod.
SAMPSO$ ALMSHOUSES NOTES TO THE FIP4ANCIAL STATEMEPIt5 PERIOD ENDED 29 FEBRUARY 2024 10. TANGIBLE FIXED ASSETS Land and bulldlngs COST Transfer5 in at 7 Septetnber 2022 2,494.OtXI At 29 February 2024 2,494,OLYI NET BOOK VALUE At 29 February 2024 2A94MIO HisfoRICAL cosr At 29 February 2024 36269 The 16 propertles held by the subjett were subject to independent, professional valuatlon on 7 September 2022. The revalued amount was based around the Qurnquennial pOrt of the unincorpDrated charity. 11. FIXED ASSET INVESTMENTS Movement In market r4lue M8rkÈt value transferred in at 7 September 2022 Acquisitions at cost Disposals at cost Unrealised gainslllossesl 343,122 9,900 {35.0th)I 33.893 Market Value at 29 FÈbruary2024 351.915 HFStorical cost at 29 February 2024 196,293 DEBTORS Weekly maintenance contributlDn Prepayments and acctued Inctsme 457 I87 -li-
SAMPSON'S ALMSHOUSES NOTES TO THE FINANCIAL sfATEMEp¥rs PERIOD ENDED 29 FEBRUARY 2024 13. CREDttORS: Amounts falllng duewrthiTh one year Accruals and deferred income Other tteditors 8,397 16,296 24,693 14. ANALYSIS OF CHAR ABLE FUNDS ANALYSIS OF MOVEMEi¥fs IN UNREsriucrED FUNDS Tyansler In from unincorporated tharitv Sep 2022 Incomln8 rEsour¢es Outyoi resources Transfers Balance at 29 Feb 2024 Byildings reserve Investment revaluation reserve Cyclical maintenance fund Extraordin3ry repair fund Revenue reserve 2.494,IXK) 2A94.000 121.7Z9 33W3 155,622 78285 186,7341 26.427 17,978 94.145 77A29 16.163 142,5901 110,308 92,634 191.988 1134.1931 265,588 225Wi {220.9Z7) 2,870.542 Buildings reserve represents the land and pmpefty the charity own5, administers and maintains. The lund5 represented by this reserve are not available for spending in the charlvs day-to-day 3ffairs. Investment reydluation reserye relates to the unreali5ed gainlllossl made on the fijnds during the year, Cyclical rnaintènance fund has been designated by the Trustee5 for a particular purpose. The Trustees may a150 reverse these designation5 at a future date. Expenditure cannot be set direcdy agalnst resÈNes but is taken through the Statement of Financial actNities. This rè5Èrve represents amounts set aside for cyclical maintenance to meet C05t5 incurred and is supplemented by transfers Iromthe Revenue Reserveaccording to the formula recomrnended by the Almshouse Association. Extraordinary repairs fvnd has beeTr designated bythe Trustees for a parhcular purpose. TheTrustees may also reverse these designations at a future date. Expenditure cannot be set dirècuy against reserves but is taken through the Statement of Finanoal Artivitie5. This reserve represents amount5 Set aside foi major repairs and maintenance work to the properties and is 5upplem&nted by tran5FÈrs from the Revenue Reserve according to the formu13 recommended by the Almshouses Association. The Revenue re5e)ye is available to be spent for any purpose of the charity.
SAMPSOWS ALMSHOVSES NOTE5 TO THE RNANaAL STATEMENT5 PERIOD ENDED 29 FEBRUARY 2024 15. ANALYSIS OF NEf ASSETS BETWEEN FUNDS Designated Funds General Funds Total Tangible fixed a55ets Investments Cash at bank and In han Current ass@ts 2A94,000 35L915 2A94,000 351,915 46,976 46P76 2344 124.6931 124,6931 S,915 24.627 2A70.542 -13-