REGISTERED CHARITY NUMBER: 1204800
Report of the Trustees and
Unaudited Financial Statements for the period 19th September 2023 to 31st December 2024
for
Elizabeth Dowell's Almshouse Trust
Elizabeth Dowell's Almshouse Trust
Contents of the Financial Statements for the period 19th September 2023 to 31st December 2024
| Page | |
|---|---|
| Report of the Trustees | |
| including Statement of Trustees' Responsibilities | 1 |
| Statement of Comprehensive Income | 5 |
| Statement of Financial Position | 6 |
| Notes to the Financial Statements | 7 |
Elizabeth Dowell's Almshouse Trust
Report of the Trustees
for the period 19th September 2023 to 31st December 2024
The trustees present their report with the financial statements of the Charitable Incorporated Organisation, CIO, for the period ending 31st December 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP (FRS102)) 'Accounting and Reporting by Charities'.
REFERENCE AND ADMINISTRATIVE DETAILS
| Registered charity | Charity Number | 1204800 |
|---|---|---|
| Registered with the Regulator of Social Housing | Registered Number | 5225 |
| Member of The Almshouse Association | Membership Number | 1156 |
| Principal address | ||
| Dowell's Close | ||
| 240 Alcester Road | ||
| Moseley | ||
| Birmingham, B13 8ES |
Trustees
The Trustees are responsible for determining the strategy and policies of the Trust. The terms of office for the Trustees varies initially but can be renewed up to three times, usually in three year periods, to make a total of nine years. If Trustees wish to stay on after that, then a one year gap between terms should be observed. The following were Trustees during the period 19th September 2023 to 31st December 2024 and up to the date of approval of the financial statements:
| statements: | ||
|---|---|---|
| Mr C. J. Wall | Chair | Appointed 19th September 2023 |
| Mrs A Durbin | Appointed 15th July 2024 | |
| Revd. Prof. F. J. Berry | Appointed 15th May 2025 | |
| Mr S Gibbons | Appointed 22nd January 2024 | |
| Ms M. T. Girvan | Treasurer | Appointed 19th September 2023 |
| Mr T. H. Glasspool | Appointed 19th September 2023 | |
| Mrs I. S. Knowles | Appointed 19th September 2023 | |
| Miss E. Norman | Appointed 19th September 2023 | |
| Mr. R. I. Stanton | Appointed 19th September 2023 | |
| Mr N B van Wijk | Appointed 28th April 2025 | |
| Miss A. C. Warne | Appointed 19th September 2023 | |
| Mr R. J Wishart | Appointed 19th September 2023 | |
| Dr. J. A. Yates | Appointed 19th September 2023 | |
| Independent examiner | To be appointed | |
| Investment Advisers | To be appointed | |
| Brewin Dolphin | ||
| 9 Colmore Row | ||
| Birmingham, B3 2BJ |
Re-election due September 2026 Re-election due July 2027 Re-election due May 2028 Re-election due January 2027 Re-election due September 2027 Resigned 21st March 2025 Re-election due September 2027 Resigned 22nd November 2024 Re-election due September 2025 Re-election due April 2028 Resigned 31st May 2024 Re-election due September 2027 Resigned 27th January 2025
CONSTITUTION
The charity was registered as a Foundation CIO on 19th September 2023.
The CIO will become a member of The Almshouses Association once the merger with Elizabeth Dowell's Trust is complete, currently estimated at 30th September 2025.It is assumed that the same membership number will apply. It was registered with the Regulator of Social Housing as a social landlord on 21st July 2025, and is associated with Homes England (who manage the grant that will be transferred from Elizabeth Dowell's Trust in 2025), both of whom replaced the Homes and Communities Agency (HCA) in 2018 with whom Elizabeth Dowell's Trust was previously registered.
Page 1
Elizabeth Dowell's Almshouse Trust
Report of the Trustees
for the period 19th September 2023 to 31st December 2024
PRINCIPAL ACTIVITES
Having been registered on 19th September 2023, Elizabeth Dowell's Almshouse Trust has, for this reporting period, been moving towards full operation, which will see assets, liabilities and reserves transferred to it from Elizabeth Dowell's Trust. This is currently expected to be completed on 30th September 2025. Consequently the main focus of the trustees has been to achieve this change.
Once the merger is completed, the objects of the Trust will be the relief of poverty, hardship or distress of elderly persons in Birmingham by the provision and maintenance of almshouse accommodation, comprising of thirty two flats, and such other charitable purposes as the Trustees in their absolute discretion decide for the benefit of the residents of the almshouses.
The trustees will aim to:
Promote the wellbeing and independence of the residents. Encourage communal activities. Provide a good quality housing. Provide good quality gardens. Manage the resources of the Trust effectively and efficiently.
Public benefit
The Trustees have considered the Charity Commission's guidance on public benefit, in particular, the Trustees consider how future developments will contribute to the objectives and aims they have set.
GOVERNANCE
The Trustees acknowledge and appreciate the spirit of the Code of Governance issued by the National Housing Federation and apply those elements of code which they consider appropriate to the size and scope of their operations.
The Trustees will maintain the same good practice as Elizabeth Dowell's Trust in adopting their policies, reviewing all their policies on a regular basis and introducing new ones where it is considered appropriate.
The Clerk and Scheme Manager of Elizabeth Dowell's Trust will be transferred to Elizabeth Dowell's Almshouse Trust via the TUPE scheme. In so doing the Clerk will continue to assists the Trustees during the year to help with the running of the Elizabeth Dowell's Almshouse Trust Board , being aware of changes in social housing /government legislation and keeping policies up to date, while the Scheme Manager will continue to maintain the smooth running of day to day operation of the Almshouse.
FINANCIAL REVIEW
There are no results during this period as the CIO has not commenced trading.
OPERATIONAL PERFORMANCE
A sub-committee of Trustees has been operating to progress the merger from Elizabeth Dowell's Trust, and all Trustees have met quarterly formally to review the progress. These meetings are minuted.
INVESTMENT PERFORMANCE
During this period Elizabeth Dowell's Almshouse Trust did not hold any investments. Transfer of investment from Elizabeth Dowell's Trust is expected to take place on 30th September 2025.
Page 2
Elizabeth Dowell's Almshouse Trust
Report of the Trustees
for the period 19th September 2023 to 31st December 2024
FUNDS
Elizabeth Dowell's Almshouse Trust has not commenced operating during this period and therefore no funds are shown in the accounts. It is expected that the funds of Elizabeth Dowell's Trust will be transferred to the CIO on 30th September 2025, maintaining the same balances in the CIO of General, Designated and Restricted Reserves as held by Elizabeth Dowell's Trust as at that date.
RISK MANAGEMENT
Once the merger is complete, then the risk management process, maintenance and Health and Safety reviews of Elizabeth Dowell's Trust will be adopted, and insurance will be novated.
There are currently no specific risks to manage for Elizabeth Dowell's Almshouse Trust as it is not yet operating.
INTERNAL FINANCIAL CONTROL
Once the merger between Elizabeth Dowell's Trust and Elizabeth Dowell's Almshouse Trust is complete then the following processes will be adopted:
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Budgets will be prepared by the Finance Committee and will be formally checked and approved by all the Trustees.
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Quarterly reports will be prepared and formally reviewed and approved by the Trustees.
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All major works will be put out to competitive tender then formally checked and approved by the Trustees.
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The Trustees will regularly review the Trust's weekly maintenance contribution arrears and authorise appropriate courses of action.
FUTURE PLANS
The Trustees focus is on effecting a successful merger.
TRUSTEES' RESPONSIBLITES IN THE PREPARATION OF FINANCIAL STATEMENTS
Law relating to registered providers of social housing requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust as at the end of the financial year and of the surplus or deficit of the Trust for that period. During this period the Trust held no assets, liabilities or reserves and has not operated during the period. In preparing future financial statements when the merger between Elizabeth Dowell's Trust and Elizabeth Dowell's Almshouse Trust is complete, the Trustees will be required to:
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select suitable policies and apply them consistently;
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make reasonable and prudent judgements and estimates;
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-prepare the financial statements on a going concern basis unless in their view the Trust will be unable to continue in operation.
The Trustees will be responsible for ensuring that arrangements are made for keeping proper books of accounts which will enable a true and fair view to be given of the state of affairs of the Trust in respect of its housing activities and to explain its transactions in the course of those activities. The Trustees should also ensure that the financial statements have been properly prepared in accordance with the Housing Act 1996 and the Accounting Direction for Private Registered Providers of Social Housing 2012.
Page 3
Elizabeth Dowell's Almshouse Trust
Report of the Trustees
for the period 19th September 2023 to 31st December 2024
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.............................................
Mr C. J. Wall
Chair
Page 4
Elizabeth Dowell's Almshouse Trust
Statement of Comprehensive Income for the period 19th September 2023 to 31st December 2024
| Notes TURNOVER Operating Costs OPERATING (LOSS)/SURPLUS Donations Interest receivable and other income Interest payable and finance costs Realised gains/ (losses) on investments SURPLUS/(LOSS) FOR THE YEAR Unrealised gains/ (loss) on investments TOTAL COMPREHENSIVE INCOME FOR THE YEAR BEFORE TRANSFE OF FUNDS Transfer between funds TOTAL COMPREHENSIVE INCOME FOR THE YEAR Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted General and Designated funds £ - - - - - - - - - - - - - - |
Restricted and Endowment funds £ - - - - - - - - - - - - - - |
31.12.24 Total funds £ - - |
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The notes form part of these financial statements Page 5
Elizabeth Dowell's Trust
Statement of Financial Position At 31st December 2024
31.12.24
| Unrestricted General and Designated funds Restricted Fund Endowment Funds Notes £ £ FIXED ASSETS Tangible assets - - - Investments - - - - - - CURRENT ASSETS Debtors - - - Cash at bank and in hand - - - - - - CREDITORS Amounts falling due within one year - - - NET CURRENT ASSETS - - - TOTAL ASSETS LESS CURRENT LIABILITIES - - - CREDITORS Amounts falling due more than one year - - - NET ASSETS - - - FUNDS Unrestricted General and Designated funds Restricted funds Endowment fund TOTAL FUNDS The notes form part of these financial statements Page 6 |
Total funds £ - - |
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Elizabeth Dowell's Trust
Statement of Financial Position At 31st December 2024
The financial statements were approved by the Board of Trustees on ............................................. and were signed on its behalf by
............................................. Mr C. J. Wall Chair ............................................. Ms M. T. Girvan Treasurer
The notes form part of these financial statements Page 7
Elizabeth Dowell's Almshouse Trust
Notes to the Financial Statements for the period 19th September 2023 to 31st December 2024
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets and in accordance with the Financial Reporting Standard 102, the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities except where dictated by the Housing SORP 2018 for registered social housing providers. Elizabeth Dowell's Almshouse Trust meets the definition of a public benefit entity under FRS102.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Going Concern
The trustee considers that there are no material uncertainties about the Trusts' ability to continue as a going concern. There are no material uncertainties affecting the current year's accounts.
Reporting Currency
The reporting currency is £ Sterling.
2. TRUSTEES' REMUNERATION, BENEFITS AND DONATIONS
Trustee’s remuneration
There were no trustee’s remuneration or other benefits for the period to 31st December 2024.
Trustee’s expenses
There were no trustee’s expenses paid for the period to 31st December 2024.
Trustee’s donations
There were no trustee’s donations for the period to 31st December 2024.
The notes form part of these financial statements Page 7