**GEORGE JONES CHARITY REGISTERED CHARITY NO. 201750** 

**REGISTERED HOUSING ASSOCIATION NO. A0364** 

**REGISTERED ASSOCIATION OF ALMSHOUSES NO. 956 UNAUDITED FINANCIAL STATEMENTS** 

**YEAR ENDED 31 DECEMBER 2023** 



## GEORGE JONES CHARITY 

## FINANCIAL STATEMENTS 

YEAR ENDED 31 DECEMBER 2023 

## INDEX 

|Page||
|---|---|
|1|Statement of Trustees Responsibilities|
|2|Report of the Reporting Accountants|
|3|Statement of Comprehensive Income|
|4|Statement of Financial Position|
|5|Statement of Changes in Reserves|
|6|Accounting Policies|
|7-8|Notes to the Financial Statements|





GEORGE JONES CHARITY 

## STATEMENT OF TRUSTEES RESPONSIBILITIES 

Housing Association and Charity legislation require Trustees to prepare Financial Statements for each financial year which give a true and fair view of the state of affairs of the Charity as at the end of the financial year and of the surplus or deficit for the period. 

In preparing the Financial Statements, suitable accounting policies have been adopted and consistently applied, to the best of the Trustees’ knowledge and belief, by reference to reasonable and prudent judgements and estimates.  Applicable accounting standards have been followed. 

The Trustees are responsible for maintaining adequate accounting records, for safeguarding the assets of the Charity and for preventing and detecting fraud and other irregularities.  The Trustees are also required to indicate where the Financial Statements are prepared other than on the basis that the Charity is a going concern. 

Page 1. 



## INDEPENDENT ACCOUNTANTS’ REPORT 

Under 136 Housing and Regeneration Act 2008 

Accountants’ Report To The Trustees on the Unaudited Financial Statements of George Jones Charity 

We report on the financial statements for the year ended 31 December 2023 set out on pages 3 to 8. 

## RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND REPORTING ACCOUNTANT 

As described on page 1, the Charity’s Trustees are responsible for the preparation of the financial statements, and they consider that the Charity is exempt from audit.  It is our responsibility to carry out procedures designed to enable us to report our opinion. 

## BASIS OF OPINION 

Our work was conducted in accordance with the Statement of Standards for Reporting Accountants, and so our procedures consisted of comparing the accounts with the accounting records kept by the Charity, and making such limited enquiries of the Trustees of the Charity as we considered necessary for the purposes of this report.  These procedures provide only the assurance expressed in our opinion. 

## OPINION 

In our opinion: 

- [a] the financial statements are in agreement with the accounting records kept by the Charity under Section 135 Housing and Regeneration Act 2008; 

- [b] having regard only to, and on the basis of, the information contained in those accounting records: 

   - [i] the financial statements have been drawn up in a manner consistent with the accounting requirements specified in Section 135 Housing and Regeneration Act 2008 and the Housing SORP 2014; 

   - [ii] the Charity satisfied the conditions for exemption from an audit of the financial statements for the year, specified in Section 136(3) Housing and Regeneration Act 2008. 

Kingscott Dix Limited Chartered Accountants & Statutory Auditors Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN 

Page 2. 



## GEORGE JONES CHARITY 

## STATEMENT OF COMPREHENSIVE INCOME 

YEAR ENDED 31 DECEMBER 2023 

||||2023|||2022||
|---|---|---|---|---|---|---|---|
||Note|£||£|£||£|
|TURNOVER||||||||
|Turnover|1|||5,115|||5,610|
|Grant income||||25,000|||-|
|Profit on disposal of investments||||2,026|||-|
|OPERATING COSTS||||||||
|Planned repair||9,983|||1,415|||
|Services – Insurance||367|||336|||
|Management:||||||||
|National Association of||||||||
|Almshouses||753|||455|||
|Architectural work and fee||-|||2,350|||
|Professional Fees||396|||439|||
|||_______|||_______|||
|||||11,499|||4,995|
||||_______|||_______||
|||||20,642|||615|
|INTEREST RECEIVABLE AND||||||||
|OTHER INCOME||||-|-|||
||||_______|||_______||
|SURPLUS/(DEFICIT) FOR THE YEAR||||20,642|||615|
|Unrealised Surplus/(Deficit) on Revaluation||||4,270|||901|
|Of Investments||||||||
||||_______|||_______||
|**TOTAL COMPREHENSIVE INCOME FOR**||||**24,912**|||**1,516**|
|**THE YEAR**||||||||
||||_____|||_______||
|Approved by the Trustees on|||and signed on their behalf: -|||||
|R J Garratt||||||||
|C J Hayden||||||||



Page 3. 



GEORGE JONES CHARITY 

## STATEMENT OF FINANCIAL POSITION 

## AS AT 31 DECEMBER 2023 

||||2023|||2022||
|---|---|---|---|---|---|---|---|
||Note|£||£|£||£|
|FIXED ASSETS||||||||
|Housing Property – Historic Cost|5||116,735||||71,240|
|Investments|5|||73,552||115,756||
||||_______|||_______||
||||190,287|||186,996||
|CURRENT ASSETS||||||||
|Prepayments||367|||351|||
|Cash at Bank and in Hand||24,468|||2863|||
|||_______|||_______|||
|||24,835|||3,214|||
|CURRENT LIABILITIES||||||||
|Accruals and Deferred Income||397|||397|||
|||_______|||_______|||
|NET CURRENT ASSETS||||24,438|||2,817|
||||_______|||_______||
|TOTAL ASSETS LESS CURRENT||||||||
|LIABILITIES|||214,725|||189,813||
|CREDITORS: falling outside one year|5|||||||
|Grants receivable from the previous Housing||30,000|||30,000|||
|Corporation||||||||
|Grants receivable from local authority||13,477|||13,477|||
|||_______|||_______|||
|||||43,477||43,477||
||||_______|||_______||
|NET ASSETS|||171,248|||146,336||
||||_______|||_______||
|CAPITAL AND RESERVES||||||||
|Undesignated Reserves||||93,426|||30,580|
|Designated Reserves||||77,822||115,756||
||||_______|||_______||
||||171,248|||146,336||
||||_______|||_______||
|Approved by the Trustees on|||and signed on their behalf:-|||||
|R J Garratt||||||||
|C J Hayden||||||||



Page 4. 



## GEORGE JONES CHARITY 

## STATEMENT OF CHANGES IN RESERVES 

YEAR ENDED 31 DECEMBER 2023 

|Balance at 1 January 2023<br>Surplus/ (deficit) from statement<br>of comprehensive income<br>Transfer (to)/from cyclical repairs<br>And maintenance reserves<br>Balance at 31 December 2023|Cyclical<br>Income<br>Repairs<br>and<br>and Main-<br>Expend-<br>tenance<br>iture<br>Total<br>Reserve<br>Account<br>£<br>£<br>£<br>146,336<br>115,756<br>30,580<br>24,912<br>4,270<br>20,642<br>(42,204)              42,204<br>171,248<br>77,822<br>93,426|
|---|---|



Page 5. 



## GEORGE JONES CHARITY 

## ACCOUNTING POLICIES 

## YEAR ENDED 31 DECEMBER 2023 

## [a] BASIS OF PREPARATION 

   - The Financial Statements are prepared in accordance with applicable accounting standards, under the historical cost basis of accounting, modified by the revaluation of investment and in accordance with the provisions of Statement of Recommended Practice “Housing SORP 2014” comply with the Accounting Direction for Private Registered Providers of Social Housing from April 2015, FRS 102 and include the results of the principal activity of the Charity being that of an Almshouse. 

- [b] TURNOVER 

   - Turnover represents rents receivable for the year. 

- [c] 

## FREEHOLD HOUSING PROPERTIES 

   - The Charity was founded on 20 January 1868 and the property transferred to the custody of the Charity Commissioners on 27 April 1900. There is no record of the original cost of the two almshouses and no value is attributed thereto.  No depreciation is provided on the subsequent additions because in the Trustees opinion the real (inflation adjusted) estimated residual value is not less than the carrying value in the financial statements. 

- [d] INVESTMENTS 

   - Investments are included at market value at the balance sheet date. 

- [e] CYCLICAL REPAIRS AND MAINTENANCE 

   - George Jones Charity has established a regular programme of cyclical repairs and maintenance.  Costs are charged to the Revenue Account in the year in which they are incurred. 

- [f] CYCLICAL REPAIRS AND MAINTENANCE RESERVE 

   - This reserve represents amounts set aside and separately invested for cyclical maintenance to meet costs in excess of budgeted expenditure for the year. 

## [g] VALUE ADDED TAX 

- George Jones Charity is not registered for Value Added Tax.  In these financial statements, where applicable, expenditure is shown inclusive of VAT. 

## [h] GRANTS RECEIVABLE 

Grants receivable are treated as deferred income under the accruals method as required by FRS 102. The properties have no base cost values and are well over 100 years old. The accruals method requires the grant to be release to the statement of comprehensive income over the useful life of the asset. No depreciation is provided as above so the grants are held as a deferred liability. 

Page 6. 



## GEORGE JONES CHARITY 

## NOTES TO THE ACCOUNTS 

YEAR ENDED 31 DECEMBER 2023 

|[1]|TURNOVER|2023|2022|
|---|---|---|---|
|||£|£|
||Rents Receivable|5,115|5,610|
||Donations (Unrestricted)|-|-|
|||_______|_______|
|||5,115|5,610|
|||_______|_______|
|[2]|TRUSTEE EMOLUMENTS|||
||No remuneration or expenses were paid to the Trustees of the Charity.|||
|[3]|TAXATION|||
||George Jones Charity is a registered Charity,|and is, therefore exempt from liability to taxation on its||
||Income and Capital Gains.|||
|[4]|HOUSING STOCK|||
||The number of units under development and in management at 31 December was:|||
|||2023|2022|
||HOUSING FOR LETTING|||
||Rehabilitation|2|2|
|||_______|_______|



Page 7. 



## GEORGE JONES CHARITY 

## NOTES TO THE ACCOUNTS 

## YEAR ENDED 31 DECEMBER 2023 

|[5]<br>FIXED ASSETS<br>HOUSING PROPERTIES FOR LETTING<br>COST<br>At the start of the year<br>Additions<br>At the end of the year<br>HOUSING ASSOCIATION IMPROVEMENTS GRANT<br>At the start and end of the year<br>OTHER CAPITAL GRANTS<br>At the start of the year<br>Additions<br>At the end of the year<br>INVESTMENTS<br>Market Value:<br>At 1 January 2023<br>Additions<br>Disposals<br>Revaluation<br>At 31 December 2023<br>At Cost:<br>At 1 January 2023<br>Additions<br>Disposals<br>At 31 December 2023|2023<br>£<br>71,240<br>45,495<br>_______<br>116,735<br>_______<br>30,000<br>_______<br>43,477<br>-<br>_______<br>43,477<br>_______<br>2023<br>£<br>115,756<br>1,500<br>(47,974)<br>4,270<br>_______<br>73,552<br>_______<br>42,459<br>1,500<br>(17,597)<br>_______<br>26,362<br>_______|2022<br>£<br>113,355<br>1,500<br>-<br>901<br>_______<br>115,756<br>|
|---|---|---|
|||_______<br>40,959<br>1,500<br>-<br>_______<br>42,459<br>_______|



Investments represents 656 (2022: 1,096) accumulated units in the National Association of Almshouses. Common Investment Fund. 

Page 8.