THE MCDONALD & TRIMMER ALMSHOUSE CHARITY
Charity number: 200406
# **TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **THE MCDONALD & TRIMMER ALMSHOUSE CHARITY**
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THE MCDONALD & TRIMMER ALMSHOUSE CHARITY
## **CONTENTS**
||Page|
|---|---|
|Reference and administrative details of the Charity, its Trustees and advisers|3|
|Trustees' report|4 - 6|
|Independent examiner's report|7 - 8|
|Statement of financial activities|9|
|Balance sheet|10|
|Notes on accounts
|11 – 13|
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THE MCDONALD & TRIMMER ALMSHOUSE CHARITY
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020**
Trustees Mrs M Thomas Mr A Macallan Mrs J Randell Mrs M Hattey Mrs S Ralling Mr David Matthews Charity registered number 200406 Principal office 3 Shrubbs Lane Rowledge Farnham Surrey GU10 4AZ Independent Examiner William Parrott MA ACA 1 Manor Fields Wood Lane Seale GU10 1HT Bankers National Westminster Bank Plc 39 The Borough Farnham Surrey GU9 7NR Investment Advisers M & G Securities Limited PO Box 9038 Chelmsford Essex CM99 2XF
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THE MCDONALD & TRIMMER ALMSHOUSE CHARITY
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
The Trustees present their annual report together with the financial statements of the charity for the period 1 January 2020 to 31 December 2020.
## **1. The Trustees**
The trustees who served the charity during the period were as follows: Mrs M Thomas
Mr A Macallan Mrs J Randell Mrs M Hattey Mrs S Ralling Mr D Matthews
## **2. Structure, governance and management**
The McDonalds Almshouses and Trimmers Almshouses Charities are administered and managed together as one charity under a scheme approved on 24 February 1988. The Charity called McDonalds' Almshouses was previously regulated by a scheme of the Commissioners dated 3 December 1970. The charity called Trimmers' Almshouses was previously regulated by a declaration of trust dated 13 July 1893 as affected by Schemes of the Charity Commissioners of 26 January 1971 and 10 December 1973. New Trustees are appointed by the existing Trustees.
## **2.a. Financial controls**
The Trustees meet the cost of maintaining the property out of the income of the charity. An Extraordinary Repair Fund was established to provide for extraordinary repair, improvement or re-building of the Almshouses, which belong to the charity. The fund is maintained out of the income of the charity by transfer to the fund of a yearly sum of not less than £4,032. Details of how the financial records are maintained are set out in the Finance Policy dated 17 May 2022.
## **2.b. Investment powers and restrictions**
The Trustees may at their discretion use the capital and income of the charity for its charitable purposes or invest money and apply the income arising for trust purposes. Any investment in leasehold property must have at least fifty years to run.
## **2.c. Risk management**
The trustees have examined the major risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
## **2.d. Reserves**
The Trustees continue to ensure that sufficient reserves are maintained in order to keep the Almshouses in good repair for both the short and long term.
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THE MCDONALD & TRIMMER ALMSHOUSE CHARITY
## **3. Objectives and Activities**
The object of the charity is to appropriate and use the Almshouses belonging to the charity, and the property occupied therewith for the accommodation of the residents in accordance with the scheme dated 24 February 1988. Residence is provided for the people in need in the Parishes of Farnham, Tilford, Frensham and Dockenfield. Residents contribute a monthly sum towards the cost of maintaining the Almshouses and essential services therein, but so that it does not cause hardship to him or her, and in accordance with the approval of the Trustees.
The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit (PB3) when reviewing their aims and objectives and in planning their future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
## **4. Achievements and performance**
Until the start of the Covid lockdown in March general maintenance work continued to maintain the properties in good order. The gardens continued to be maintained throughout. From March on, only essential maintenance including boiler maintenance was carried out inside the properties due to the Covid regulations. Some of the outside property maintenance work was possible in accordance with the Covid regulations. The insurance claim put in for the rectification of the damage caused by the subsidence of the end wall of number 1 McDonald was agreed, and the insurance claim excess paid (£1,000). During the pandemic no gas meters were read and therefore the estimated use based on the January reading resulted in higher payments than would be expected even though all properties were occupied.
The final invoice from the roof repairs in 2019 covering the retention payment amounting to £2,400 was not received during the year. The roof repair cost £102,000 in 2019.
Bells the solicitors terminated their involvement with the Charity in January resulting in only one management payment being made to cover the last quarter of 2019. Administration and Financial control are now being undertaken by the Trustees.
All properties were occupied throughout the year and additionally the monthly maintenance charge was increased by £21 per property in July.
## **5. Financial review**
At the year end the charity had net assets of £678,003 (2019: £664,768). The charity made a net surplus for the year of £13,235 (2019: -£48,774).
The trustees of the charity have looked at the cash flow requirements of the charity and its current financial position and consider the charity is a going concern for a period of greater than 12 months from the date of approval of the accounts. In coming to this conclusion, the Trustees have considered the risks and uncertainties faced by the charity and believe that the policies in place have mitigated these risks to an acceptable level.
The Trustees confirm that all invoices and commitments that were outstanding at the end of the reporting period were settled as they became due.
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THE MCDONALD & TRIMMER ALMSHOUSE CHARITY
**6. Independent Examiner -** Mr William Parrott has been appointed by the Trustees as independent examiner for the ensuing year.
Approved by order of the members of the board of Trustees and signed on their behalf by:
14 September 2022
................................................ **Mrs M Thomas**
……………………………….. **Date**
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THE MCDONALD & TRIMMER ALMSHOUSE CHARITY
## **Independent examiner's report on the accounts**
**Section A Independent Examiner’s Report**
|**Report to the trustees/**
**members of**
**On accounts for the year**
**ended**
**Set out on pages**
**Responsibilities and basis**
**of report**
**Independent**
**examiner's statement**|McDonald and Trimmers Almshouse Charity|McDonald and Trimmers Almshouse Charity|McDonald and Trimmers Almshouse Charity|
|---|---|---|---|
|||||
||31 December 2020|**Charity**
**no:**|200406|
|||||
||8 to 12|||
||I report to the trustees on my examination of the accounts of the above
charity (“the Trust”) for the year ended 31/12/2020.
As the charity trustees of the Trust, you are responsible for the preparation of
the accounts in accordance with the requirements of the Charities Act 2011
(“the Act”).
I report in respect of my examination of the Trust’s accounts carried out
under section 145 of the 2011 Act and in carrying out my examination, I
have followed the applicable Directions given by the Charity Commission
under section 145(5)(b) of the Act.
I have completed my examination. I confirm that no material matters have
come to my attention~~(other than that disclosed below *)~~in connection with
the examination which gives me cause to believe that in, any material
respect:
• accounting records were not kept in accordance with section 130 of
the Act or
• the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with
the examination to which attention should be drawn in order to enable a
proper understanding of the accounts to be reached.
*_Please delete the words in the brackets if they do not apply._|||
|**Signed:**
**Name:**
**Relevant professional**
**qualification(s) or body:**||14 September 2022|
|---|---|---|
||||
||William Parrott||
||||
||
MA ACA||
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THE MCDONALD & TRIMMER ALMSHOUSE CHARITY
**Address:**
1 Manor Fields, Wood Lane, Seale, GU10 1HT
## **Section B Disclosure**
Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
**Give here brief details of any items that the examiner wishes to disclose** .
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THE MCDONALD & TRIMMER ALMSHOUSE CHARITY
## **Statement of Financial activities for the year ended 31 December 2020**
|Note
**Income:**
Charitable activities
2
Investments
3
**Total Income**
**Expenditure on:**
Raising funds
Charitable activities
4
**Total expenditure**
**Net income/(expenditure)**
**before net gains on**
**investments**
Net gains/loss on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds Carried forward**|Endowment
funds
£
335,743
0|Unrestricted
funds
Total
Funds
2020
Total
funds
2019
£
£
£
73,655
73,655
68,694
12,442
12,442
13,060|
|---|---|---|
|||86,097
86,097
81,754|
|||0
0
0
50,853
50,853
177,081|
|||50,853
50,853
177,081|
|||35,244
35,244
-95,327
-22,009
-22,009
46,553|
|||13,235
13,235
-48,774|
|||329,025
664,768
713,542
13,235
13,235
-48,774|
||335,743|342,260
678,003
664,768|
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THE MCDONALD & TRIMMER ALMSHOUSE CHARITY
## **Balance sheet as at 31 December 2020**
|Note
**Non current assets:**
Tangible assets
5
Investments
**Current assets:**
Cash at bank and in
hand
**Total net assets**
Endowment funds
3
Unrestricted funds
3|2020
£
335,743
319,029
654,772
23,231
678,003
335,743
342,260
678,003|2019
£
335,743
324,573|
|---|---|---|
|||660,316
4,452|
|||664,768|
|||335,743
329,025|
|||664,768|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ ................................................ **Mrs M Thomas Mrs J Randell** Date: 14 September 2022
Date: 14 September 2022
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THE MCDONALD & TRIMMER ALMSHOUSE CHARITY
## **Notes on financial statement**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with Charity Commissions guidelines for receipts and payments accounts. The Governance document of the charity does not state any preference as to the type of accounts, which should be produced, and the use of receipt and payments accounts does not contravene any other known requirement. To the extent that the preparation of these accounts has deviated from the guidelines it is in order to promote clarity and consistency.
The McDonald & Trimmer Almshouse Charity meets the definition 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 relevant accounting policy.
## **1.2 Income**
Income, including investment income, is accounted for when received.
## **1.3 Expenditure**
Expenditure is accounted for when paid and is analysed by type. The Charity has no paid staff or employees. Trustees may claim out of pocket expenses but not remuneration.
If the Trustees are aware of a liability or an impending liability at the year end, then this will be reported and explained in the Trustees report.
## **1.4 Tangible non-current assets and depreciation**
All tangible non-current assets are initially recorded at cost.
Depreciation is not charged on the freehold property. This is on the basis that the land has a higher value than the value reported in the accounts.
Apart from the freehold property there are currently no other non-current assets, which have not been fully written off. If non-current assets are purchased in the future the following policies will be applied.
Assets costing below £1,000 will not be capitalised.
Depreciation will be provided at a rate calculated to write off the cost, less estimated residual value, over the useful life of the asset.
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THE MCDONALD & TRIMMER ALMSHOUSE CHARITY
## **1.5 Investment Assets and income**
Investments are stated at market value at the balance sheet date. Investment income is included in the receipts and payments accounts when it is received by the charity.
## **1.6 Financial Instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments and it is intended that this should continue to be the case.
## **2. Income from charitable activities**
|Income from tenants
Sundry income|2020
2019
£
£
73,625 68,404
30 290|
|---|---|
||73,655 68,694|
## **3. Investments and Funds**
|**UNRESTRICTED FUNDS**
**Designated Funds:**
Extraordinary repair
fund M&G
**General Funds:**
COIF 01C General
fund
COIF 02C Roof Fund
Total General funds
Current assets/cash
**TOTAL UNRESTRICTED**
**FUNDS**
**ENDOWMENT FUND**
**TOTAL OF FUNDS**|Balance at
01/01/2020 Income
Expend-
iture
Transfer
in/out
Gain/
Losses
£
£
£
£
£
317,947
12,425
4,032
-22,009
3,596
9
-9
0
3,030
8
0|Balance at
31/12/2020
£
312,395
3,596
3,038|
|---|---|---|
||324,573
12,442
0
4,023
-22,009
4,452
73,655
-50,853
-4,023
329,025
86,097
-50,853
0
-22,009
335,743
664,768|319,029
23,231|
|||342,260
335,743|
|||678,003|
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THE MCDONALD & TRIMMER ALMSHOUSE CHARITY
## **4. Analysis of expenditure**
|Administration
Maintenance
Water rates
Electricity
Gas
Insurance
Council tax on empty properties
Almshouse Association
Refund of overpaid rent
TV licence|2020
2019
£
£
1,536
4,244
16,063 144,614
2,883
2,123
756
757
26,793
23,506
1720
1,667
0
170
210
0
840
0
52
0|
|---|---|
||50,853 177,081|
## **5. Tangible assets**
The tangible assets are the properties, which are rented out to tenants. These are expressed at historical cost and are not depreciated. These tangible assets also constitute the endowment funds. All other tangible assets have been fully depreciated.
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