REGISTERED CHARrrY NUMBER: 201261 THE TRACEY ALMSHOUSE TRUST ACCOUNTS 31 DECEMBER 2023 The Trace Almshouse Trust Year ended 31 December 2023 Page 1- 3 Trusttts Annual Report Ind8pend•nt Examln¢rs R¢port Receipts and Payments Accounl stst•m•nt of Assets & Liabilities The Trace Almshouse Trust Trustees. Annual R¢ ort for the Year End 1 December 2023 R?f•r•nc• and Admini$tratlo# Detalls Charity Nam• Tracey Almshouses othar Names Charlty is Known by The TJaw AlmshC￿e Trust R•glstsrod Charity NuM￿r 201261 Prlnclpal Office Church House Queen Street Newton Abbot Devon TQ12 2QP Names of the Charity Trustees who Manag• thè Charity Vanèssa Steer Chrtstopher Leonard Laye￿k Jamas Leslie Mann Bryony Myfanwy Burcher-Le￿s Elizabeth C18ir6 Wilson Michael Stuart Lang Anne Brea18y Nam￿ and AddTe55¥5 of Adylsèrs Solicitor.. WBW SolicitOfS Church Hujse Queen Street Newton Abb(A Devon TQ12 2QP structure, Gov•manc• and Management De$￿p1k￿ of the Charitys Trusts.. Type of govemlng document Scheme daled 22 January 1996 How the Charity bs constitut￿1 Trust Trustee selection melhDJs Whenever a vacancy in the Board of Trustees ￿¢￿r$. Ihe (xy)linuirKJ Trustees appoint a re￿aCernent person of good standing the local communty. -Page 1- Trae Alrn$house Trus Trustees. AnTrual Re rt for the Year Ended 31 D•cember 202 Fund Poli¢i¢s Invesbmgnts In stocks and shares are held tn an unrestricted Capit￿ fund. Realised gains are kept vAthln this fund to reinvesL apart from ￿alised gains on investments wthin the second Ratht)ones portfolio. which are hekj in tho unr8strthd distribu1￿ fuThJ. Dividends and interest from investments are held in an unrestrÈcted distribution fund. ThSs fund 1$ for the pury)QSo of fvifilling the tharitsble activibes of The Tracey Alrrtshouse Tnjsl. The Capital fund meeis 60% of the tnjst administration expenses. all olhèr rs(*ipts arKI p8JThents are within the Distribution Fund. Reserves policy The charity holds reserves on the Distribution Fund to cover expected distribulions and overheads. Excess funds are held wthin the Caprtal Fund ￿there tw are invested to produce income and opttal gains. ObJ•ctlv•s and ktlviti•s The objects are.. 11 For the benefit of the residents in the Almshouse5 of the tharity or any of Ihem in such manner as the Trustèès think fft from timtr to tirr*. Thg rosidents shall be poor PeTh￿S who are elderly or infimi and of the protestant reliqion were bom in or have li￿d withln the a￿8 of benefit for not less than ten year 21 For relief in need in reliewng either generalty or iThJividualty persorks r8sklent vhthln the ar8a of benefit who are in r£*nditions of need. hardship or distress by maknng grarsts of money or providing or pawng for items. seivices or facilities cal(￿lated to reduce the need. hatdship or distress of su¢h persons 31 For such chafitable purpN)8es wthin the area of benefft as the Trustees think fft The Trustees mainiain the fabric of the Arrtshouse buildings. finan¢8 th8 repair & servictr of equipment. suth as the boiler etc and pay the resident's regular outg)ings. such as gas & electrlaty ¢harggS. SuWus income is applied in the provision of grants towards charitable causes wthin Ihe area ol benefit, 5uth as churth repairs and the ifflprovement of k￿al schools. facAlibes. The Trustees have had regard to the guidance i$sued by the Chartty Commission on public beneftL Achlevom?nts and Perforniance 11 The maintsining of thè AIn￿r￿USe buildings to in a gcM)d state of repa￿. 21 The support of diverse d)arttab]g ¢>usgS Wthin the 8iea of benef -Page 2- The Trace Almshouse frust Trustees. Annual Re ort for thè Year Ended 31 Dèeomber 2023 Flnanclal R•vlew Al tho yèar*nd, the balance of the Distribution Fund ¢s £138.35712022- £109.3041 and the balance on the Capital Fund is £2.454,29312022 - £2,406.2%1 De¢laratJon The Trustees declare that thèy have approved the Tnjstees. repxvt 8iN)vg. Signed ffi bèhalf of the ChartWs Trustees Signature.. Full Name.. Mtha61 Stuart Lang Vanessa Steer Position.. Trustee Tnjstee Date.. -Page 3- Th8 Trace Almshousè Trust Indo ond&nt Ex mIn&￿$ R¢ ort Th Trustees ofThe Trnce Almshouse Trust I report lo the charty tnjstees on my exarnination of the accounts of the charity for the year ended 31 December 2023. vrt)i¢h are set out on pages 5 and 6. R•sponslbllltl•s and Basls of Report As the chariys trustees you are responsible for the pr8paration of thè accounts in acojrdance the requirements of the Charities Acl 20111lhe Act'l. I report in respect of my examination of the charitys a¢xounts carried out under s8¢tvM 145 of the Act and in carrying out my examination I h8v8 folkwRd atl the appliczble Directions given by the Charity Comrnission under section 14515}Ibl of the Act. Independent Exarninef$ Ststement I hav8 complated my axamination. I confimi thal material matters have c￿1￿ to my att•ntkM In ¢onne¢lion ￿th thè examination giwng m8 cause to b81itrve that in any material respott . accounting records were not kept in respect of the charity as required by sectpJn 130 of the Act: or 2. the accounts do not aco)rd with those records I have no conceffts and have come across ￿ other matters in c¢y)nection wth the examination to thhi(l) attention should be dravjn in this report in Order to enabk a proper understanding of the a￿unt$ to be reached. 1171ryoUf Moorgate Hixjse King Street Newton Abbot Devon TQ12 2LG m￿hael YourffJ FCA- ICAEW Pepk)ws Limited Chartered Acccojntants -Page 4- Al￿￿hOuse Trust 2022 DDiiderH15 on ordinary shares and cthw strKk5 ￿ interest Bank and other Interest receN￿l Winter Fuel Sundry 87,123.84 156.51 2,506. 54.74 82.661.65 116.95 2,394.C¥J 89P41.09 .172.60 ndltUT8 AlmJhous• runnlng cost G8nerat r8palrs and rnaintenanr TV IiG9ncg PaSnlSng 8nd decorating Stair Ufts AaTmslFirè bknkelslFirg safety Heab'rvJ aThJ ass¢xthd mahrténar Water EleCtr￿ty aTrJ Ga5 Gardgning Buildings inswan Chrislrna5 Gm5 Advarb51ng Coundl tsx Sundries 6.118.59 7A0 1,405.79 73J 879 1.352.46 16.438.43 581.70 1.271.77 1,323.00 1,589.05 7,557.57 30628 1.221.75 575.Io Dl8trlbullon fund 8.741.45 19.437.52 The Trate Alrnshou5e Trust emfr 2023 2022 Accumulated unr8stslctsd funds Capltsl fund Fund at the beginning efthe year at ccét Surplus on sales of Inveslments L￿.. n&w sh8d purchased Le55'. 60% ofTrust admIrHStrats￿ exp￿% 1406.295.65 68.308.48 2,342,893.51 80.918.14 20.311.fKI 17.516.ot 2,454.293.13 2.4fffj295.65 Dlstylbutlon Fund Fund al thè beginnlng oftt* ￿¥r at IDefidIllSurpl￿ on S￿eS of Inv8Stmeni8 from RaIhtr￿ 2TrJ 8c¢ounl (DeficitllsurplL￿ from ReC￿p1S aTrJ Pa￿ts Add.. New 8h8d purchased Add.. of Trust 9dminlstratiL￿ exper￿5 offset clwued th8 Capitsl Fund 1(8A04.19 72.350.67 8,741.45 19.437.52 20,31f. 17,516.00 138.&56.64 109,304.19 2.592.649.76 2,515,599.64 Rè r88ont8d Inv•strn¢nt$ * ¢ost 2.438.247.TT 2,344,419.96 Bank a￿oUnts Lloyds bank inveslmert accoLrt Lloyds bank current aco)thrt 119.181.15 1.0￿.L￿* 89,7¥2.97 1,000.00 120.181.15 ),782.97 Brok•rs' ac¢ounts Philip J Mitton accoLmt Charfes Stanley ac£ount Brthn Dolphln amnt Rathbwes awourt Rathbones 2nd account 7.754.n 11,99720 13,883.76 12.562.36 41.728.04 26.271.66 34.220.84 79.996.90 WBW Gll•nt •¢Mynl 2.592.649.76 2.515,$99.83 syovad by th8 bust Full Nam8'. Michad Stuart Posib¢m'. Trw%tÈ• -P•Jo