## **Trustees’ Annual Report for the period 30 June 2023 to 31 March 2024** THE FINCH ALMSHOUSES, RAVENSTONE Charity registration number: 1201122 ## **Objectives and Activities** ||SORP
reference|| |---|---|---| |Summary of the purposes of the
charity as set out in its
governing document|Para 1.17|The Charity’s purpose is the relief of poverty,
hardship or distress through the provision of
almshouse accommodation.| |Summary of the main activities
in relation to those purposes for
the public benefit, in particular,
the activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|The Charity’s main activity is the ownership,
management and operation of six almshouses
located in the village of Ravenstone,
Buckinghamshire.
The Charity uses these properties to provide
long-term housing for residents who meet the
qualifying criteria set out in the Charity’s
constitution and who have been assessed as
being in housing need.| |Statement confirming whether
the trustees have had regard to
the guidance issued by the
Charity Commission on public
benefit|Para 1.18|The trustees have considered the guidance
issued by the Charity Commission on public
benefit and confirm that the Charity’s purpose
and activities arein full accordance with these
principles| ## **Additional information (optional)** You may choose to include further statements where relevant about: ||SORP reference|| |---|---|---| |Policy on grant making|Para 1.38|Not applicable| |Policy on social investment
including program related
investment|Para 1.38|Not applicable| |Contribution made by
volunteers|Para 1.38|Not applicable| |Other||Not applicable| ## **Achievements and Performance** ||SORP reference|| |---|---|---| |Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to the
circumstances of its
beneficiaries and any wider
benefits to society as a whole.|Para 1.20|ACHIEVEMENTS
During the year, the Charity:
•
Completed its formation into a Charitable
Incorporated Organisation and the
vesting of assets from its predecessor,
the Ravenstone Hospital Charity.
•
Secured long-term funding from the
Charity Bank to enable phased
improvement works to the estate.
•
Substantially completed Phase 1 of the
improvement works, bringing 2 vacant
units back into occupation.
•
Completed the preconstruction stage for
Phase 2 that will extend the scheme of
works to a further two units
BENEFITS
The Charity believes that these achievements
have benefited residents, the community and
other stakeholders.
(a)Improved the amenities, safety and
energy performance of the housing stock
for residents.
The reconfigured units have an improved
protected means of escape, a shower
room and WC at first floor and a
designated eating area. Thermal
insulation was upgraded and the space
heating replaced with a more energy
efficient system.
(b)Expanded the provision of affordable
housing in the village.
The lack of affordable housing in the
village was widely identified by residents
as an issue of primary concern during
the consultation for the Local Plan in
2017. Two vacant units were made
available in the year. The improvement
works have also expanded the appeal of
the Charity’s housing stock to a wider
range of applicants as the unimproved
configuration had potentially restricted
the number of applicants.
(c)Maintained the stewardship of historically
significant buildings and local heritage
The Charity took a historically
sympathetic but practical approach to the
Grade II* listed properties which are
prominent features within the village. The
Trustees consider that keeping the
buildings occupied and income-
generating will ensure their viability for
future generations, thereby preserving an
important part of the local heritage.| ## **Additional information (optional)** You may choose to include further statements where relevant about: |Achievements against
objectives set|Para 1.41|Not applicable| |---|---|---| |Performance of fundraising
activities against objectives set|Para 1.41|Not applicable| |Investment performance against
objectives|Para 1.41|Not applicable| |Other||| ## **Financial Review** |Review of the charity’s financial
position at the end of the period|Para 1.21|The Charity’s activities began on 30 June 2023
on the completion of the vesting order from
Ravenstone Hospital (charity number 251169).
Under the terms of this order, the assets of
Ravenstone Hospital were transferred to the
newly incorporated Charity.
The freehold title to the almshouses was
transferred at the value determined by by a
registered valuer in February 2023 (£1,700,000),
plus the cost of the improvement works
(£256,601).
Quoted securities were transferred at the quoted
open market at the date of transfer.
In the 9 months ending 31 March 2024, the
Charity generated a net income of £8,551.| |---|---|---| |Statement explaining the policy
for holding reserves stating why
they are held|Para 1.22|The Charity requires sufficient realisable
reserves to cover (1) day to day costs of
maintaining and operating the almhouses (2)
provision for reactive repairs and unplanned
maintenance and (3) cyclical maintenance plans.| |Amount of reserves held|Para 1.22|At 31 March 2024 the Charity’s reserves were
£1,756,601, comprising the freehold to the
almshouses, cash and investment less Charity
Bank mortgage secured on the almshouses.| |Reasons for holding zero
reserves|Para 1.22|Not applicable| |Details of fund materially in
deficit|Para 1.24|Not applicable| |Explanation of any uncertainties
about the charity continuing as
a going concern|Para 1.23|At the time of approving the financial statements,
the Trustees have a reasonable expectation that
the Charity has adequate resources to continue
its operations for foreseeable future. Accordingly,
the trustees continue to adopt the going concern
basis of accounting in preparing the financial
statements.| ## **Additional information (optional)** You may choose to include further statements where relevant about: |The charity’s principal sources
of funds (including any
fundraising)|Para 1.47|The Charity’s principal sources of income are the
Weekly Maintenance Contributions received from
Residents and, to a lesser extent, the investment
income on quoted investments.| |---|---|---| |Investment policy and
objectives including any social
investment policy adopted|Para 1.46|The Charity invests a proportion of surplus cash
in quoted investments managed by CCLA, an
asset manager. The investment objectives are to
provide a long-term total return comprising
growth in capital and income, to match the
Charities long-term liabilities associated with the
maintenance and support of the almshouses.| |A description of the principal
risks facing the charity|Para 1.46|(1) Sustained increase in maintenance and
repair costs that consistently exceed the
income that can be recovered through
the Weekly Maintenance Charges.
(2) Major damage to the almshouses by fire
or flood
(3) Almshouses become obsolete and no
longer provide the amenities or attain the
housing standard required by residents.| |---|---|---| |Other||None| ## **Structure, Governance and Management** |Description of charity’s trusts:||| |---|---|---| |Type of governing document|Para 1.25|The Finch Almshouses Ravenstone is a
Charitable Incorporated Organisation under a
Constitution registered on 23 November 2022.| |How is the charity constituted?|Para 1.25|Charitable Incorporated Organisation under
number 120122| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of any
person or body entitled to
appoint one or more trustees|Para 1.25|Under the terms of the Charity’s constitution,
there must be at least 5 trustees:
1 x Ex-officio Trustee being the Vicar of the
Ecclesiastical Parish of All Saints, Ravenstone,
Buckinghamshire
1 x Hereditary Trustee
3 x Co-optative Trustee: Appointed for a term
of 5 years and recruited by a formal application
and interview process.
Every trustee must be a natural person| ## **Additional information (optional)** You may choose to include further statements where relevant about: |Policies and procedures
adopted for the induction and
training of trustees|Para 1.51|None| |---|---|---| |The charity’s organisational
structure and any wider network
with which the charity works|Para 1.51|None| |Relationship with any related
parties|Para 1.51|None| |Other||| ## **Reference and Administrative details** |Charity name|THE FINCH ALMSHOUSES, RAVENSTONE| |---|---| |Other name the charity uses|None| |Registered charity number|1201122| |Charity’s principal address|Priory Lade, North End, Ravenstone, Olney, Bucks, MK46 5AN| ## **Names of the charity trustees who manage the charity** |





|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee(if any)**| |---|---|---|---|---| ||Abigail White|Co-Chair
Co-optative Trustee:||| ||Debbie Saunders|Co-Chair
Co-optative Trustee:||| ||Ian Anderson|Co-optative Trustee:||| ||Glynis Bailey|Co-optative Trustee:||| ||George Harry Finch|Hereditary Trustee||| ||The Rev Canon
Christa Pumfrey|Ex-officio Trustee||| ||Richard Macgowan|Co-optative Trustee:||| – Corporate trustees names of the directors at the date the report was approved **Director name** None Name of trustees holding title to property belonging to the charity |**Trustee name**|**Dates acted if not for whole year**|| |---|---|---| |None||| ## **Funds held as custodian trustees on behalf of others** Description of the assets held in None this capacity Name and objects of the charity None on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe None custody and segregation of such assets from the charity’s own assets **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** |**Type of**|**Name**|**Address**| |---|---|---| |**adviser**||| **Name of chief executive or names of senior staff members (Optional information)** Not applicable ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details Not applicable ## **Other optional information** Not applicable ## **Declarations** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** **Signature(s)** Abigail White (Jan 28, 2025 11:02 GMT) **Full name(s)** ABIGAIL WHITE **Position (eg Secretary,** CO-CHAIR **Chair, etc) Date** 28/Jan/25 ||THE FINCH ALMSHOUSES, RAVENSTONE|THE FINCH ALMSHOUSES, RAVENSTONE|THE FINCH ALMSHOUSES, RAVENSTONE|Charity No
(if any)|1201122|| |---|---|---|---|---|---|---| ||Annual accounts for theperiod|||||| ||Period start date|30-Jun-23|**To**|Period end
date|31-Mar-24|| |||||||| |**Section A**|**Statement of financial activities**|||||| |**Recommended categories by**
**activity**
Guidance Notes
**Incoming resources (Note 3)**
**Income and endowments from:**
Donations and legacies
S01
Charitable activities
S02
Other trading activities
S03
Investments
S04
Separate material item of income
S05
Other
S06
S07
**Resources expended (Note 6)**
**Expenditure on:**
Raising funds
S08
Charitable activities
S09
Separate material item of expense
S10
Other
S11
S12
S13
Net gains/(losses) on investments
S14
S15
**Extraordinary items**
S16
S17
S18
Other gains/(losses)
S19
S20
**_Reconciliation of funds:_**
S21
S22
1
**_Total_**
**_Net movement in funds_**
Total funds brought forward
**_Total funds carried forward_**
**_Total_**
**Net income/(expenditure) before investment**
**gains/(losses)**
**Net income/(expenditure)**
**Transfers between funds**
**Other recognised** **gains/(losses):**
Gains and losses on revaluation of fixed assets for the charity’s own use||**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**funds**
**£**
**£**
**£**
**£**
**£**
F01
F02
F03
F04
F05||||| |||-|-|-|-|-| |||-|-|-|-|-| |||18,469|-|-|18,469|-| |||-|-||-|-| |||-|-|-|-|-| |||-|-|-|-|-| |||18,469|-|-|18,469|-| |||||||| ||||-|-|-|-| |||-|-|-|-|-| |||-|-|-|-|-| |||9,918|-|-|9,918|-| |||9,918|-|-|9,918|-| |||||||| |||8,551|-|-|8,551|-| |||-|-|-|-|-| |||8,551|-|-|8,551|-| |||-|-|-|-|-| |||-|-|-|-|-| |||||||| |||-|-|-|-|-| |||-|-|-|-|-| |||8,551|-|-|8,551|-| |||||||| |||-|-|-|-|-| |||8,551|-|-|8,551|-| |||||||| ## **Section B Balance sheet** |**Fixed assets**
**Intangible assets (Note 15)**
**Tangible assets (Note 14)**
**Heritage assets (Note 16)**
**Investments (Note 17)**
**_Total fixed assets_**
**Current assets**
**Stocks (Note 18)**
**Debtors (Note 19)**
**Investments (Note 17.4)**
**Cash at bank and in hand (Note 24)**
**_Total current assets_**
**Creditors: amounts falling due within**
**one year (Note 20)**
**_Net current assets/(liabilities)_**
**_Total assets less current liabilities_**
**Creditors: amounts falling due after**
**one year (Note 20)**
**Provisions for liabilities**
**_Total net assets or liabilities_**
**Funds of the Charity**
**Endowment funds (Note 27)**
**Restricted income funds (Note 27)**
**Unrestricted funds**
**Revaluation reserve**
**_Total funds_**
Signed by one or two trustees on behalf of all
the trustees
Abigal|**Fixed assets**
**Intangible assets (Note 15)**
**Tangible assets (Note 14)**
**Heritage assets (Note 16)**
**Investments (Note 17)**
**_Total fixed assets_**
**Current assets**
**Stocks (Note 18)**
**Debtors (Note 19)**
**Investments (Note 17.4)**
**Cash at bank and in hand (Note 24)**
**_Total current assets_**
**Creditors: amounts falling due within**
**one year (Note 20)**
**_Net current assets/(liabilities)_**
**_Total assets less current liabilities_**
**Creditors: amounts falling due after**
**one year (Note 20)**
**Provisions for liabilities**
**_Total net assets or liabilities_**
**Funds of the Charity**
**Endowment funds (Note 27)**
**Restricted income funds (Note 27)**
**Unrestricted funds**
**Revaluation reserve**
**_Total funds_**
Signed by one or two trustees on behalf of all
the trustees
Abigal|Guidance Notes
B01
B02
B03
B04
B05
B06
B07
B08
B09
B10

B11
B12
B13
B14
B15
B16
B17
B18
B19
B20
B21|**Unrestricted**
**funds**
**£**
F01|
**Restricted**
**income**
**funds**
**£**
F02|**Endowment**
**funds**
**Total this**
**year**
**£**
**£**
F03
F04|**Endowment**
**funds**
**Total this**
**year**
**£**
**£**
F03
F04|**Total last year**
**£**
F05| |---|---|---|---|---|---|---|---| ||||-|-|-|-|-| ||||1,922,926|-|-|1,922,926|-| ||||-|-|-|-|-| ||||51,369|-|-|51,369|-| ||||~~1,974,295~~|~~-~~|~~-~~|~~1,974,295~~|-| ||||||||| ||||-|-|-|-|-| ||||8,059|-|-|8,059|-| ||||-|-|-|-|-| ||||~~10,582~~|~~-~~|~~-~~|~~10,582~~|-| ||||~~18,641~~|~~-~~|~~-~~|~~18,641~~|-| ||||||||| ||||36,335|-|-|36,335|-| ||||||||| ||||~~- 17,694~~|~~-~~|~~-~~|~~- 17,694~~|-| ||||||||| ||||~~1,956,601~~|~~-~~|**-**|~~1,956,601~~|-| ||||||||| ||||200,000|-|-|200,000|-| ||||-|-|-|-|-| ||||||||| ||||1,756,601|-|-|1,756,601|-| ||||||||| ||||-|||-|-| |||||-||-|-| ||||1,756,601||-|1,756,601|-| |||||||-|| ||||~~1,756,601~~|~~-~~|~~-~~|~~1,756,601~~|-| ||||||||| ||alf of all||Signature||Print Name||Date of approval
dd/mm/yyyy| ||||||ABIGAIL WHITE||28/Jan/25| ||Abigal||||||| |||~~e an , :~~|||||| CC17a (Excel) 28/01/2025 2 ## **Section C Notes to the accounts** Note 1 **Basis of preparation** _**This section should be completed by all charities** ._ ## **1.1 Basis of accounting** These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with: the Statement of Recommended Practice: Accounting and Reporting by Charities • and with*  preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 • and with*  the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) • and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102.*  - -Tick as appropriate ## **1.2 Going concern** _**If there are material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern, please provide the following details or state "Not applicable", if appropriate:**_ An explanation as to those factors that support _**NOT APPLICABLE**_ the conclusion that the charity is a going concern; Disclosure of any uncertainties that make the _**NOT APPLICABLE**_ going concern assumption doubtful; Where accounts are not prepared on a going _**NOT APPLICABLE**_ concern basis, please disclose this fact together with the basis on which the trustees prepared the accounts and the reason why the charity is not regarded as a going concern. ## **1.3 Change of accounting policy** The accounts present a true and fair view and the accounting policies adopted are those outlined in note { }. |Yes*
No*||* -Tick as appropriate| |---|---|---| |||| ## _**Please disclose:**_ |**_Please disclose:_**|| |---|---| |**_(i) the nature of the change in accounting policy;_**|**_NOT APPLICABLE_**| |**_(ii) the reasons why applying the new accounting policy_**
**_provides more reliable and more relevant information;_**
**_and_**|**_NOT APPLICABLE_**| |**_(iii) the amount of the adjustment for each line affected_**
**_in the current period, each prior period presented and_**
**_the aggregate amount of the adjustment relating to_**
**_periods before those presented, 3.44 FRS 102 SORP._**|**_NOT APPLICABLE_**| ## **1.4 Changes to accounting estimates** |No changes to a|ccounting|estimates have occurred in the reporting period (3.46 FRS 102 SORP).|estimates have occurred in the reporting period (3.46 FRS 102 SORP).| |---|---|---|---| |Yes*
No*||* -Tick as appropriate|| ||||| |**_Please disclose_**|**_:_**||| |**_(i) the nature of_**|**_any chan_**|**_ges;_**|**_NOT APPLICABLE_**| |**_(ii) the effect of_**
**_assets and liabi_**|**_the chan_**
**_lities for t_**|**_ge on income and expense or_**
**_he current period; and_**|**_NOT APPLICABLE_**| |**_(iii) where pract_**
**_more future per_**|**_icable, th_**
**_iods._**|**_e effect of the change in one or_**|**_NOT APPLICABLE_**| ## **1.5 Material prior year errors** No material prior year error have been identified in the reporting period (3.47 FRS 102 SORP). > Yes*  * -Tick as appropriate No*  _**Please disclose: NOT APPLICABLE**_ |**_Please disclose:_**|**_NOT APPLICABLE_**| |---|---| |**_(i) the nature of the prior period error;_**|| |**_(ii) for each prior period presented in the accounts, the_**|**_NOT APPLICABLE_**| |**_amount of the correction for each account line item_**|| |**_affected; and_**|| |**_(iii) the amount of the correction at the beginning of the_**|**_NOT APPLICABLE_**| |---|---| |**_earliest prior period presented in the accounts._**|| CC17a (Excel) 28/01/2025 3