Chartty regl¥tration nuMr 200732 (England ond Wales) WALSGROVE CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
WALSGROVE CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Green Pastures CBS Limrted (Appolntea 15 January 20241 Dirèctots of thè eoypornts Tru8ts• Mr R Crathome Pastor P CLFnniThJham MrACunningham Mr R Pagel-Wilkè$ Mr S Westmacott Mr G Ball Mr F Goodwkn Mr8A G¥ld0r Mr R Sturge8s-Dur(len R Tucker Charity numbèr (England and Wal•s} 200732 Principal addrev4 28 Unlon Street Soulhwt Merseyside PR9 OQE Independent •xamin•r Kendall dleY LLP Granta Lodge 71 Graham Road Malvem Worcestershire WR14 2JS Bankers Lloyds Bank PLC 4 The Crgss Worce51er Worcestershire WRI 3PY Inv10Tht 8dvl$ors BlackRock Fund Manageis Limited po eox S45 Darlington DL19TQ
WALSGROVE CHARITY CONTENTS Pag• Trustees. ieport Indepèndent examlnefs report Stslemenl of ffinand81 acliwlie5 8818n¢e shè&1 Notes to the ffinancial statements 7-13
WALSGROVE CHARITY TRUSTEES, REPORT FOR THE YEAR ENDED 31 MA Y2024 The trustees present their annual report and finanrAal statements for the yoar ènded 31 May 2024. The financial statentS have been prepared in accordance wrth the accounong polics sel out in notè 1 to th& financial ststements and cornply with the chariV8 goveming document, the Charities Act 2011, FRS 102 'The Financial Reporting Stsndard 8pplicAble in the UK an¢J Republic of Ireland. and ihe Charlties SORP 'Accounting and Repotbng by Charities". Statement of Recommended Prade applicable lo Gharibes preparing their aGcounl$ in arLOTdance with the Finanual Reportlng S18ndèrd 8N)lUb In the UK Republic of Ireland IFRS 1ff21'. ObJ•¢tlves and xtl¥rtle8 The objects.vgs are to provide suitable accommodation, facAlitie6 and opttn spacè for wople who h8ve 8 neèd 8nd vtho have sorne connection with the Cty ofWor¢?sler. Public benefil The trustees have pald due regard to guidance issued by the Charity Cornmi¥sion in d¢¢iding what ¥clNitto$ tho charity should undertake. Achl•v8m•nts and perfomlance SigftJifi¢ènt èch"vih"ès and èchievements againsl objectives The charity h83 been though a tr8nsitlonal year in order to help stabilise its fiJlure and se¢urt ongolng support to the rashyents. In January 2024 all 7 individual twstees resigned, and a ¢orporata trusta¢ was appointed, Green Pastu& CBS Limited. Green Paslures CBS Llted is a registered society whts work Mth partners from aeross Ihe county to house and support vulnerablè 8ndlor homèlèss indlviduals or families. Starting OLrt in 1999. Green Pastures has 25 years of xpèrièncè ol managk)g properties, understanding the reSpOnbilrtieS ol being a landlord. arKI $upporting residents in their most desperaie tlrnes of need. Giv&n th& continued rlse In csts. particulaty utilities, the preVluS Iwstee8 implemented an annual review of th& resmlents monthly maintenance contributions. The drfrUtt deeis)n was made to increase these contributions, and this will be reviewed annual going forward. We wll continue to monttor c£Jsts. any expenses etc, and will ay5 keèp these as k)w as possible. The rent for 1heAbroUrn flat will 3180 r1ed on an annual basis. Therè havè beèn several r8SntS move on to other accommodation lor various reasons over the L4st year, and this has given us Ihe opportunity lo give sotne of the 118ts a rNAch-ne¢ded update and refresh r&Y kn Ihe arrfval of new residents. The transfer of the charity lo Gtstrn Pasturès CBS Llmttéd as corporate trustee has been srmoth and suc£esslul. The bDard count 118 privilege to be able to take on the baton from the previou5 Iru81ees. and look forward to maintaining a safe home lor ihe Walsgrove Charity re$Klenls, and lo be able to provlde them vAth any support they may need. The Trustees increased rnonthly contributions durirfj the yèar to.. Flats 1 8 and 10 £515 pei calendar monlh- October 2023 Flat 9 £476 per calendar month- October 2023 Arboretum flat £550 pei calendar Month- Jun8 2023 Financtal rfrylow In¢ome for the year was £67,57712023.' £72.5741. Expenditure was £117,80112023'. £93,055). Net gxper¥Jilure wa¥ £29,1)6412023'. £23.6751. At Ihè year end total funds were £392,170 12023.. £421234) of whth £103.422 12023.. £118,958) restrfcted. Unrestricted funds were £288,74812023.. £302.2761. Frn• res&rves were £182,02912023: £194,921).
WALSGROVE CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AIA Y2024 Resetves policy The Charity aims lo retsin 8Lfficrent unrestricted funds to provlde nè¢e$sary worklng capltal so that Its nonnal activities ¢an continue. Th8 Twstees consider the valve of the fvnd8 at the balance sheel date 8re adequate lo fvlI tt)eir ntInuing obligations. The Reslrided Fund is maintained to finance major repairs. AddrfkJn$ 8re made in acLordance with tho deed tsf trust 8nd further contributs.ons when nessary. Pnitup81 fvndlng sourtgs The prinupal funding sr¢e fs the conlrlbutbn fmm resldents. Major risks The Trustees have 8 duty to identify and review the risks lo which the Chanty Is exposed and to ensure appropriate controls are in place to provide reasonable assuran against fraud and error. Stru¢turè, govemaneo and management The Chwity is eDntrolled by it$ governing documenl. a dged of trust which was sead on 04.01.88 and constitutes an LR)incorporated charity. The Iruslees who seNed during the year and up to the date of $1gnature of the financial statements w*re'. Mrs H Griffiths (Resigned 15 January 20241 Mrs S Gumey (Resigned 15 January 20241 MrsA "n9 (Resigned 15 January 20241 Mr D Long (Resigned 1S January 20241 Mr M Roger (Resigned 15 January 20241 Mrs E Smith (Resigned 15 January 20241 Mr C Win%%wd (Resigned 15 January 20241 Grn Pastures CBS Limited (Appointed 15 January 20241 Thetr port was apwoved by the Board of Trustees. Green Pastu CBS Limited Trustee 4 Febwary 2025
WALSGROVE CHARITY STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MA Y2024 The trusts#$ are resrthslbje for preparing the Trust8&s' Report and thè financial statemènts In 8ccordan(x with applicable law and Unlted Klngdom Accounting Standards Iunited Kingdom Generalty Accepted Accounting Praclicel. The law applicable to chariles In EnglaThJ and Wales requlres the trustees to prepare financial sts1ennts for each finanaal year vthich give a true and fair view of the state of affairs of the charity and of the incoming resources and application of rewurces of Ihe charity A)r Ihel year. In pparIng these financial stsiemenls, the trustees are requlred to.. - sèct suitablè aCCnting policiès and th8n appty th8m consist8nUy.' - obseNe the methods and prinaples in the Charities SORP.. . make judgements and e51irnates that are reasonable and prudent., slate wher applicable accountln9 Standards have been lollowed, subjecl to any material departures disclosed and explained In the finanual ststeThntS,. and prepare the financial ststewngnts on the 90ing concem basis unlèss K is inapproprfate to presume that the charfty will continue in operalion. The truslpgs are responsible frji ke8ixng suffio¢nl aUntIng r•corils that disdose with reasonable acojracy at any tlme the financial position of the charity and enable them lo ensure Ihat the financial stateThnts compty with the Charities Aci 2011, the Charty IA¢count5 and Reports) Regulaknons 2008 and the prow5i0n5 of the Iiusl deed. They are also responsible for safeguardlng the assets of the charity and hence for taknng reasonable steps for the pievention and detection of fraud and other irregularities.
WALSGROVE CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WALSGROVE CHARITY I report to the trustees on my examinatlon of the financiql Statements of Walsgrove Chaiity (the charSty} for the year ended 31 May 2024. Re$pon$lbll1o¥ and ba$ls of report As the trustoe$ of ihe charity you are responsible for Ihe prepar*ion ol the finanaal statements in accixdancé with the rèquirements of the Charities Act 2011. I report in resp8¢t of ry examination ol the charity's finandal stslements carrf&J out under sèdion 145 of Ihfr ChafiJ&s Ad 2011. In carrying out rny examinatlon I have followed Ihe Directions given by th• Charity Commission nder section 14515llbl of the ChanbesAd 2011. Irrd•p•nd•nt examlnefg statement Your attention is diawn to the fact that the charity has prepared the finanaal ststemenls In ac¢orilanGe wlth the relevant version of the Statemènt of Recommended Practice applicable lo charlbes preparin9 their finanryal statement& in accordanc• with the Financial Reporting Sl8nd8rd applrcable in the UK and Republic of Ireland IFRS 1021 in pTeference to the Accounting and Reporting by Charib"es'. Statemenl of Recorronended Practice issued on 1 April 2005 whith is referred to ¥n the extant regulations but h83 now baèn ¥vilhdravm. l undersland that this has been done in ordei for the flnandal statements to provije a Irug and lalr vlew in accofdanc? wth UK Generalty Accepted Accounting Practice. I have completed my &xaminatM)n. I confjmi that no matters have come lo my attention in ronnectlon %%lth the examinotion giving me cause to believe that in any material respect.. ¥ccounts"n9 records were not kept in resped of the charty as required by s8¢tion 130 ollhg CharlliesAct 2011, the finanual statements do not accord wrfh those records." or the finanryal ststÈmenls do not ctsmpty with the applicable [equ1ments concerning the fom 8nd nIent of financial stslements Set oul In the Charittes (Accounts and Reports) RulationS 2&J8 other than any requirernenl that the finand81 $tstements give a true and faw view, which is not a matter considered 8$ part of 8n independent eXanatIOn. I have no concems and have come across no other matters in connedion wrth the examatIOn to which 8ttèntion should be drswn in thls report in order to enable a FweT understandlng of the financial 8latem8nts lo be roached. Sarah J. Morley ACA Kèndall Wadl•y LLP Grartts Lodge 71 Graham Rts8d Malvern Worcestershire WR14 2JS 4 February 2025
WALSGROVE CHARITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MA Y 2024 Unrestrlcted Restricted funds funds 2024 2024 Totsl Unrnstrict•d R•strkt•d fund8 fund$ 2023 2023 Totsl 2024 2023 Nots8 Incomè from: Gharit8ble aCtiv.S Investments 57.689 5,246 57,689 9,888 81,116 7.857 61,116 11,458 4.642 3,801 Totsl Income 62,935 4,642 67,577 68.773 3,801 72,574 Exp•ndltur• on: Charitable act18¥ 117,801 117,801 93,055 93,055 Totsl oxp9ndlturg 117.801 117.801 93,055 93,055 Nel gainslllossesl on investrnents 12,138 9.022 21.160 11,e54) 11,5401 (3,1941 Net incomg11gxpgnditur•l 142.7281 13,664 {29.0641 125.9361 2,261 123,6751 Transfers befvRen funds 11 29,200 {29,2001 {8CIJ) 800 Net movement In funds 113,5281 115.5361 129,C64) 126.736) 3.081 123.675) Raeonelllatlon ol lunds: Fund balances w 1 June 2023 302.276 118,9S8 421,234 329,012 115.897 444,909 Fund balan¢•s at 31 Pnay 2024 288.748 103,422 392,170 302.276 118,958 421,234 The st8lement of fin8ThSal actlvftl8s includes all gains and losses recLJgnised in the year. Al incom& and expenditu derfve from continuing activbties.
WALSGROVE CHARITY BALANCE SHEET AS AT31 MAY2024 2024 2023 Fixed assets Tangible assets Inveshments 12 13 1,719 287,343 107,355 286,295 394,062 393,850 Current assets Debtors Cash at bank and In hand 14 1.361 1.855 31.23e 3,216 31,238 Creditors.. amount8 falling duè wlthln one year 115 15.1081 13,854} currgnt Illabllllh8Vag8•ts 11.8921 27.584 Total net assets 392,170 421.234 The fund¥ of th* ¢h#rfty Restricted incomp funds Unrestricted funds 16 103.422 288.746 118,958 302,276 392.170 421,234 Thefin ments were approved by the trustee8 on 4 February 2025 CBS Limited Trustee
WALSGROVE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MA Y2024 A¢untIng Wleles Charity infom•tion Èlsgrove Charity is a charity registered in England and Wales Id)arty number 2007321. The reglstered office 8ddie$s is 28 Un)n Street. SoLrthport. Merseyside, PR9 OQE. 1.1 Accountlng convgnuvn The financial stalernents have been prepared in accordan¢a with Ihe charltys governlng docvment. the Charit8 A¢1 2011, FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP 'Accounting and Reporting by Charilies.. Staternent of Recommended Pr8cbc applicable to charrties preparing thelr aounts In accordance the FinancAal Reporting Standard applt¢8ble In the UK ond Republic of Ireland IFRS 1021" The charity is a Public Benefit Entity as defined by FRS 102. Th? ¢h8rity has taken advanlage of the prov¢sions in the SORP for ¢harits not to prepa a statement of cash lknws. The fmanciAI statements have departed from the CharrfSes IAccDunls ¥nd Reports) Regulations 2008 only t the extent required to provide a true and fair ¥1. This departure has involved following Ihe Slaternent of Recommèndèd Practicè for ianb"es applying FRS 102 rather than the version of the statewnI of Recommended Practi which is referred to in the Regulations but whth h¥8 $in¢e been withdrawn. Thè financial statements are prepared in sterting, which is the functional currency cl Ihe charity. Monetsry aMntS in these financial statements are rounded to the nearest £. The finanual statements have been prepared under ihe historical cost convention. modthed lo Include the revaluation of fixed asset investments at lair value. Tho prinopal accounting policies adopted are set out bek)w. 1.2 Golng concern At the time of approving the financial stslemenls, the Irusleès have a reasonable expectatlon that the charity has adequate resources to continuè in opèrational èxistence lor the foreseeable future and that there a no material uncertainties 8bjt its ability to continue. Thus the trustees continue to adopt Ihe golng basis of accounting in preparing the financial statémènts. 1.3 Charftable funds Unrestricted funds are available for use at the disGreliw iJf the truste8s in furtherance of theSr charitsble ot¥ecbves. Restricted funds are subject to specsfic conditions by donows or grantor$ 8$ to they may be used. The pOSeS and uses of the restricted funds artr $¢1 out in Ihg notes to th& finandal statements. 1.4 Income Inco18 recognlsed when th¥ ¢harity is legally entilled to it after any performance con(Jitions have been met, the arnour can btr mèasured reliabty. and it is probable thal incon will bè rècÈTrved.
WALSGROVE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 Accountlng pollclg¥ Cantlnuedl 1.5 Expendlture Expendllure is recognised once there is a legal or ¢onstruclive obligatlon to Iransfei ewnomic benefrt to a third paty, li is probable Ih8t a transfèr tsf economic beneffts will be required in settlement, and the amount of th¥ oblig81ion can be measured reliabty. Expenditure is cSSled by activty. The costs of each activty are made up of Ihe total tsl dire¢t costs and shared costs, including support costs involved in undèrtaking È8ch ath"vty. Direct costs attributsble to a singl# activrty are allocated directly to that activty. Shared costs which contribute to more than gne adNity and support costs which are nut attributable to 8 single activty are apporttoned b&tssEen those ocb"vib"es on a b86iS consistènt with the us8 ol resources. 1.6 Tanglble flxed 888ets TaThJible fixed assels a initlally measured at C08t and 8th)sequenty measured at cost or valuation, net of depr8ciation and any impairmenl losses. Depreciation Is recognised so 85 lo writè off the cost or valuation of a58ets thwr rèsidual values overtheir Useful INes on the follomng bases.. Leasehold land and buildings Slr8ight line ovèrthe length ol the lease The gain or loss arising on the disposal of an asset is deternne as the difference teeen the sale proceeds and the carrying value ol Ihtr asset, and 1$ recognised in the slalernenl of ffinanGial adivib•s. Th$ freehold property of Walsgrove Court, Worce51er h?s been fulty depreciated in previ)us yeaTS. 11 has been classified as 8 t8ngiblè asset in accordance with the SORP_ The trvstees COler Ihat the cost of revaluing Ihe kYop¢ty would exceed the benefits of doing SQ. 1.7 Flxed a8sèt Imi•sknonts Fixed asset investrnants a initially aSured at Irans8dion price excluding transaction costs, and are subsequently measured al fair value at eath rèporting Ilate. Changes in fair value are recognised in net Incomellexpendilurel for the year. Tr8nsa(IOon costs are expensed as incurfed. 1.8 Impalrment of fix•d ?$¥•ts At each reporting end date. the charty reviews the carylng amounts of Ils tangible a$$ets lo determin8 whether there is any indlcalion that those assets have suflered an Impalmnt loss. If any such indication exists. the recoverable amount of the assel is estimated In order to determine the exlenl of the impairmgnl loss lil any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits hehl Èt eAII with banks and other skjrt-temi liquid investments vjfth orlglnal maturrties of three months or less. 1.10 Flnanclal Instruments The charity only ha5 financial assèts 8nd finanaal liabililies of a kind that qual as bask flnancial instruments. Basic finanaal instruments are initially recognised at trans8Ctlon value and subsequentty meaSulj at Ihelr settlement value.
WALSGROVE CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 MA Y 2024 Crftlc•l accountlng e8tlmateB and Judgèments In the application of the charity's accounting pollaes, the trustees are required lo m8keJud9emenls, estimates and assumptions about the carrying amount of assets and liabilities that a not readtr apparent from other sources. The estimates and associated assumptions are based on historral experience and other factors that are considered to be relevant. Actual resuhs may differ from these e8tirnate$. Th8 estimates and undertying assumpkn'ons are reviewed on an ongoing basis. Revisions to accounting eslimates are recLJgnised in the perM)d in which Ihe estimate is tevised whtrre the revision 8ffects only that pèriod, or in the parfod of the rèvision and futura pèriods where the revision affects bolh current and future periods. In¢om• from ¢harltsbl• •¢tlvlll•s Unrestricted funds ZQ24 Unrostrlctgd lund$ 2023 Charltable actlvlti Charitable rental income 57.689 61,116 Income from inve¥bn&nts Unrestricted Restricted funds funds 2024 2024 Total UnT•Strietsd R•8trict•d funds funds 2023 2023 Total 2024 2023 Incthne trom listed inve8tments 5,246 4,642 9,888 7,6S7 3,801 11,458
WALSGROVE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MA Y 2024 Expendltur¥ on charitsblg adivitie8 Charitabl• activitie¥ 2024 Charltsble a¢tlvltlos 2023 Dlrnet costs Depre¢ialKJn Rates Insurance RepaiTS & renewals Subsoiptions Agents fees Service charges Heat & Light Cleaning Sundry expenses 638 1,274 1,824 S8,360 106 12,400 570 16.845 69.148 143 16,421 95 12,819 1,880 429 308 103,514 92,440 Share ol support and governan co¥ts18¢• not¢ 61 Govemance 14,287 615 117,801 93,055 Anatysls ty fund Unrestricted funds 117.801 93.055 Support ¢08ts allocatsd to a¢tlvlti Charltable actlvllle 2024 Total 2023 Govem8nee 14.287 615 2024 2023 Go¥wnane• costs eomprtse: Independent Examine¢s fe¥9 Legal and piofe8sional 1,811 12.476 615 14,287 615 Trustses None of the tru51ees lor any persons Conne¢ wrth them) received any reThwneralKin or beneffts from the Charity or were reimbursed eXpSe$ during the yèar. 10-
WALSGROVE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2024 Employoe8 There were no employees in this or1he prior year. Gain8 and1088es on Imi•slm¢nts Unrèstricted Resthct•d fund$ funds 2024 2024 Total Unrestricted Restricted lund$ fund$ 2023 2023 Totsl 2024 2023 GainOsseS) arising on,. Revaluabon ol invesbmenls 12.138 9,022 21,160 It,6541 11,5401 13.194) 10 T•xotion The charity is exempt from tsxalkn on its because au rts iome is applied for charitable purposes. 11 Transfers During the year a transfer ot t800 was made from unrestrKted fuThYs lo the Extr8ordinary r8paY lund, this 18 the annual agreed amount. A transfer of £30,000 was rnade frorn the Extraordinary repair fund to unrestrictod fun¢Js which represented a drawdown ol Investments to lund repairs and renov8tions in the year. 12 Tanglble fixed assets Lg•¥phol nd and bylhllng Cosl At 1 June 2023 108,681 At 31 May 2024 108,681 DepcIatIon At 1 June 2023 D8precl8tion ch8r9Èd in the yèar At 31 May 2024 CarySng amount Al 31 May 2024 106.719 At 31 May 2023 107,355 11
WALSGROVE CHARITY NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MA Y2024 13 Flxed aSt Inv•stments Listed ve$tments Cost or valuation Al 1 June 2023 Additions Wdluation chatvjes Dispos¥s 286,295 9,888 21,160 130,0001 At 31 May 2024 287,343 Carrylng anb)unt At 31 May 2024 287,343 At 31 M8y 2023 286,295 14 Oebtorn 2024 2023 Amounts falllng due within on• y•ar: Tfade debtors Prgpaym&nts and accrued income 721 1,381 15 Credltora: amounts falling due withln one year 2024 2023 Trade creditOTS Acciuals and defeThed income 1.270 3,838 1.772 1,882 5,108 3,654 16 R•strfeted funds The festrided fijnds of the charTty comprise the unexpen¢Jed balareS of donalh)n5 and gran18 held on Iwst 8ubi¢¢t to specffic conditions by donors as to how thèy may be used. At 1 June 2023 Incoming sourc•s Transfers Galns •nd lo$$ At 31 May 2024 Extraordinary repair fuJKI 118,958 4,842 (292001 9,022 103,422 12-
WALSGROVE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MA Y 2024 16 Restrlcted funds (Conllnued) Previou$ y•o1: At 1 June 2022 Ineomlng sources Trnnsfer8 Gains and losse At 31 May 2023 Extraordinary repair fund 115,897 3,801 8(Kl 11,5401 118,958 17 Analysis of nèt a88ets l)etwe•n lunda Unrestrlcted lunds 2024 Rèstrletèd lunds 2024 Totsl 2024 At 31 PAay 2024.. Tangible 8s$els Investments Current assetsllllabllitlesl 106,719 165,613 16.416 106,719 287.343 11.B921 121.730 118,3081 288,748 103,422 392,170 UnreAtrietèd funds 2023 Rè•tricted ful9 2023 Totsl 20rJ At 31 May 2023: Tangible assets Investments Curr¢nl ¥$s¥tsllliobik¢iesl 107,355 148,229 46,692 107,355 286,295 27,584 138,066 119,108} 302,278 118,958 421,234 18 R•lot¢d paty tronsadlons There were no disdosable re181ed paty transaaions during the year12023- nornel. 13-