Charity No: 201068 RSL No: A2481
ANGIERS ALMSHOUSE CHARITY TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
ANGIERS ALMSHOUSE CHARITY
CONTENTS
| Page | |
|---|---|
| Trustees' Report | 1 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Accounts | 7 |
ANGIERS ALMSHOUSE CHARITY
Report of the Trustees For the year ended 31 March 2025
The Trustees present their report together with the financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 and relevant regulatory and legal requirements.
Reference and administrative information
Trustees who served during the year were:
| Nominative Trustees | Mrs P Hayton (chair) |
|---|---|
| Mrs R Lester (resigned 3 February 2025) | |
| Mrs E Unsworth | |
| Mr B Tyrrell | |
| Mr R Hogg | |
| Miss E Carter | |
| Mrs C Sandall | |
| Co-optative Trustees | Mrs T Harrison |
| Mr V Kerrigan | |
| Mr J Winters | |
| Mr R Wall (resigned 3 February 2025) | |
| Mr P Smith | |
| Rev S Nesbitt | |
| Charity Number | 201068 |
| Register of Social Housing Number | A2481 |
| Charity Offices | 8A Castle Street |
| Wallingford | |
| Oxfordshire | |
| OX10 8DL | |
| Independent Examiner | Robert Oakes CTA |
| 3 Park Road | |
| Torquay | |
| TQ1 4RQ |
Page 1
ANGIERS ALMSHOUSE CHARITY
Report of the Trustees For the year ended 31 March 2025
History and objectives
When John Angier died in 1680 he left £850 in trust to buy land on which to build an almshouse for six poor widows or widowers in Wallingford. In later years various gifts and legacies were made towards the upkeep of the almshouse. More recently, major modernisation and refurbishment was carried out in the 1980s. The standard of the almshouse and residents’ accommodation is kept under regular review.
The charity was created by the amalgamation of several small charities by order of the Charity Commission and is governed by a scheme of amalgamation dated 22 February 1985. It is registered with the Charity Commission number 201068 and Register of Social Housing No. A2481. It is unincorporated.
Angiers Almshouse Charity owns the grade II listed property entitled “The Almshouse” in Wallingford which it maintains and administers. It is registered in the name of the Official Custodian for Charities. The Almshouse is used for the accommodation of persons who have resided in or have strong links with Wallingford. The object of the charity is to maintain the property for the benefit of the residents who live there. To be accepted residents have to demonstrate a financial need and their ability to live independently.
Structure, governance and management
The charity is managed by up to 13 trustees, of which seven are appointed by (but not necessarily members of) Wallingford Town Council and the remaining six, who should have special knowledge of Wallingford, are appointed by the trustees. Trustees receive no remuneration or other personal benefits and no transactions have taken place during the year in which any of the trustees have a financial interest.
There are at present two trustee vacancies and the trustees are in the process of deciding what skills, experience and expertise would best assist them in future. They will then commence enquiries, including obtaining personal recommendations and advertising to find suitable new trustees. All potential trustees will be vetted before appointment to ensure that they meet the required standards. All new appointments will be approved by the trustees as a whole.
The trustees are responsible for applying the income of the charity for the benefit of the six residents of the almshouse, the repair and maintenance of the building and the control of the finances of the charity to enable it to achieve its objectives.
The residents are charged a weekly maintenance contribution which is used towards the cost of maintaining the almshouse and essential services, including the administration of the charity.
All policies and major decisions are formally approved by the trustees who normally meet quarterly. The trustees confirm that they have had due regard for public benefit guidance published by the Charity Commission. The charity’s objective of provision of almshouse accommodation for those in need in the vicinity of Wallingford is such a public benefit.
Achievements and performance
The charity is in the process of reviewing all procedures and documenting the principal policies involved in managing its objectives. It is planned to develop a new website to be operational in 2025 and, in due course, this will disclose important policy documents.
Financial review
The charity's income for the year of £31,169 (2024 £25,816) comprised maintenance contributions from residents of the almshouse of £27,000 plus dividends and interest income of £4,169. Expenditure on the repair and maintenance of the almshouse amounted to £13,479 and a further £3,129 was spent on other direct expenses. The cost of administration of the charity was £1,697. This gave rise to a surplus for the year of £12,864 (2024 £12,731) which has been added to the general fund.
Page 2
ANGIERS ALMSHOUSE CHARTTY Rèport of the Tnmtoos For the year •nded 31 IAarch 2025 The trustees have set aslde an am(xJnt as an Extraordinary Repair Fund to provide for Frf)ssible major paIrS to the almshouse. Certain investments have been deswnated for this purFose and Ihe income arising is added to the investments rather than being spent on other matters. The trustees have set the reseNes policy on the basis that the value of these investments provKles a sabslxtory rn5 for quantyfying the fund, although this will be kept under review each year. The present amount ofthe fund is £122,073. The trusteès are not aware ot major expenditure on the almshouse that will be required in th8 near future. Th8 trustees have deuded to keep funds of approximately £100.c available for easy access. mainly in interest bearing bank deposit accounts, to cover nomial expenditure needs and to make sorrn albwance for unexpected costs. Addln81 sums are invested in funds approved for thariknes. Investments increased in value by £8.144 ofwhich £7,923 was added to the Extraordinary ReFqir Fund and the balance of £221 was transfefred to the general fvnd. The trustees COnder that the unre8trNAed funds of the charity at 31 Mch 2025 of £281.684 were satisfactory and en8ble It to continue to meet its obpcttves. Rhk manag•m•nt The trustees are in the process of carying out a detailed aesSment of all major risks affecllng th& charrty and its 0ratsOnS. Th is due for •tson in 2025 The trustees already have in pla rmxdures for fire ri The health aThJ safety assessment is wort( in progres$. The charity obtains a professional report every fve years into Ihe slate of repair of the almshouse building intemally and extemally and it follows the reo)mmendats"ons for repairs and remedial work on a systematic basis. The trustees frequentiy view the state of the building and the individual almshouses themselves and ensure, as far a8 possible, that it is maintained to a huh stsndard. The finances of the charity are dosety monitored by the trusle8s, induding review of investment perfornan, maximisalion of interest income and intemal controls over expendf(ure. Reserves and easily a¢SsIble funds are considered to provide sufficient resources in the event of adverse conditions. Approval This report was approved by the trustees on Al *12S and sign1 on tr'r behalf by.. Tnjstse
ANGIERS ALMSHOUSE CHARITY
Independent Examiner's Report To the Trustees of Angiers Almshouse Charity
I report to the trustees on my examination of the accounts of the charity for the year ended 31 March 2025, which are set out on pages 5 to 10.
Responsibilities and basis of report
As the charity’s trustees 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 charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Robert Oakes CTA
3 Park Road Torquay TQ1 4RQ
Date:
Page 4
ANGIERS ALMSHWSE CHARrrY Statemenl of Flnancial Actlvltles For the year ended 31 March 2025 2025 2024 In¢omlng re80ur¢es From charitable actNities'. Maintenance contribultons 27,000 24,291 From gener8ted funds.. Dividends and interest 4,169 1,450 Other incom8 75 31.169 25,816 R080urco8 expend Charitable 8CtNits'es 18,608 11,180 Administralwe èxpen8es 1.697 1,905 18,305 13,085 Net Incom• before gal11108808) from Inv•8tments 12.864 12,731 Unrealised investment gainsl(lossesl 8,144 9,308 Not movem•nt In lund8 lor th• year 21,008 22,039 Total fvnds brought foThvard 240.676 218.637 Total funds ¢arrfed forward 261.684 240,676 Approved by the Trustees on 41, [25 and signed on their behaif by: Trustee Trustee Pago S
ANGIERS ALMSHOUSE CHARrrY BalaDc• Shoot A8 at 31 IAarch 2026 2025 2024 FIX as84ts Almshouse property Investments- Extraordinary Repair FurKI Inve8lments- General 8.229 122,073 9,714 140.016 8,229 114.150 9,493 131,872 Currnnt a889ts Doblors Cash at bank 1.742 119.926 121.668 1,742 108,478 110.220 Currnnt Ilabllltl Creditors 1,416 Nel currnnt a88ets 121,688 108.804 Net 240 676 Roprn8&ntad by Unrestrtcted funds 11 281,684 240,676 Trustee Trustee Page 6
ANGIERS ALMSHOUSE CHARITY
Notes to the Financial Statements For the year ended 31 March 2025
1. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Charities Act 2011, the Statement of Recommended Practice: Accounting by Registered Social Landlords, issued in May 2005 and the Accounting Requirements for Registered Social Landlords General Determination 2006.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income
Maintenance contributions from residents, dividends and interest are included in the Statement of Financial Activities when they are receivable.
Expenditure
Expenditure on the almshouse and administrative expenses are included on an accruals basis.
Angiers Almshouse Charity is not registered for Value Added Tax. Where applicable, expenditure is shown inclusive of VAT.
Almshouse property
Angiers Almshouse in Wallingford, Oxfordshire was constructed in the seventeenth century and there is no record of the original cost and no value is attributed thereto. The book value shown comprises the cost of improvements carried out since 1981 less a Housing Association Grant (HAG). HAG is repayable under certain circumstances, primarily following the sale of a property but repayment is usually restricted to net proceeds of sale.
There is no charge for depreciation as the property is maintained in a satisfactory state of repair such that its value is in excess of book value.
Investments
Investments are included at market value. Gains or losses on revaluation are shown in the Statement of Financial Activities as unrealised gains or losses.
Fund accounting
The trustees have designated an Extraordinary Repair Fund for the extraordinary repair, improvement or rebuilding of the almshouse building. Although designated these funds remain unrestricted funds.
Unrestricted funds can be used at the discretion of the trustees in accordance with the charitable objects.
Page 7
ANGIERS ALMSHOUSE CHARITY
Notes to the Financial Statements For the year ended 31 March 2025
2. Dividends and interest receivable
| 2. | Dividends and interest receivable | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Dividends | 422 | 407 | |
| Interest receivable | 3,747 | 1,043 | |
| 4,169 | 1,450 | ||
| 3. | Expenditure on charitable activities | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Expenditure on almshouse | |||
| Insurance | 1,957 | 1,992 | |
| Electricity and gas | 666 | 858 | |
| Water | 506 | 755 | |
| Repairs and maintenance | 13,479 | 7,575 | |
| 16,608 | 11,180 | ||
| 4. | Other expenditure | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Administration | 1,697 | 1,185 | |
| Independent examiner's fee | - | 720 | |
| Trustees' emoluments | - | - | |
| Staff costs | - | - | |
| 1,697 | 1,905 | ||
| Angiers Almshouse Charity is a registered charity and is, therefore, exempt from | taxation on its | ||
| income and capital gains. | |||
| 5. | Fixed assets - almshouse property | £ | |
| Cost of improvements: | |||
| As at 1 April 2024 and 31 March 2025 | 157,976 | ||
| Less Housing Association Grant: | |||
| As at 1 April 2024 and 31 March 2025 | 149,747 | ||
| Net book value | |||
| As at 31 March 2024 and 31 March 2025 | 8,229 |
Page 8
ANGIERS ALMSHOUSE CHARITY
Notes to the Financial Statements For the year ended 31 March 2025
| 6. Investments Extraordinary Repair Fund Market value at beginning of the year Increase/(decrease) in market value Market value at the end of the year 996 National Association of Almshouses Investment Fund Accumulation Shares General investments Market value at beginning of the year Increase/(decrease) in market value Market value at the end of the year 10,301 National Association of Almshouses Investment Fund Income Shares 88.39 BlackRock Charities UK Bond Fund A Income Shares 7. Debtors Weekly maintenance contribution due Prepayments 8. Cash at bank Short term deposits Current account |
2025 £ 114,150 7,923 122,073 122,073 9,493 221 9,714 9,588 126 9,714 2025 £ - 1,742 1,742 2025 £ 113,088 6,838 119,926 |
2024 £ 105,109 9,041 |
|---|---|---|
| 114,150 | ||
| 114,150 | ||
| 9,226 267 |
||
| 9,493 | ||
| 9,097 129 |
||
| 9,226 | ||
| 2024 £ 451 1,720 |
||
| 2,171 | ||
| 2024 £ 104,728 3,750 |
||
| 108,478 |
9. CAPITAL COMMITMENTS
Angiers Almshouse Charity has no capital commitments
10. CONTINGENT LIABILITIES
At 31 March 2025 and 2024 there were no known contingent liabilities.
Page 9
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ANGIERS ALMSHOUSE CHARITY
Notes to the Financial Statements For the year ended 31 March 2025
11. Unrestricted funds
| Unrestricted funds | |
|---|---|
| Balance at 1 April 2024 Surplus for the year Investment gains/(losses) Balance at 31 March 2025 Balance at 1 April 2023 Surplus for the year Investment gains/(losses) Transfers Balance at 31 March 2024 |
General Cyclical Extraordinary Revaluation Total Fund Repair Fund Repair Fund Fund £ £ £ £ £ 126,526 114,150 240,676 12,864 12,864 221 7,923 8,144 |
| 139,611-122,073-261,684 | |
| General Cyclical Extraordinary Revaluation Total Fund Repair Fund Repair Fund Fund £ £ £ £ £ 103,023 4,575 105,136 5,903 218,637 - 12,731 12,731 9,041 267 9,308 10,772 (4,575) (27) (6,170) - |
|
| 126,526-114,150-240,676 |
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