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2021-12-31-accounts

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES

REGISTERED CHARITY NUMBER 202110 REGISTERED SOCIAL LANDLORD NUMBER A0192

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES YEAR ENDED 31 DECEMBER 2021 REGISTERED CHARITY NUMBER 202110

REGISTERED SOCIAL LANDLORD NUMBER A0192

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

Page
Contents 1
Trustees' Report 2 - 7
Trustees' Statements on Internal Controls and
Responsibility for the Accounts 8
Auditors' Report 9 - 10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement (with Notes) 13
Notes to the Financial Statements
Accounting Policies (Note 1) 14 - 16
Income and Expenditure (Notes 2 - 7) 17 - 20
Fixed Assets (Notes 8 - 10) 21 - 23
Current Assets (Notes 11 - 13) 23 - 24
Long Term Creditors (Note 14) 24
Provisions (Note 15) 24
Capital Funds (Notes 16 - 17) 25
Restricted Funds (Note 18) 26 - 28
Unrestricted Funds (Note 19) 29
Analysis of Net Assets between Funds (Note 20) 30
Capital Commitments (Note 21) 30
COVID-19 Pandemic note (Note 22) 31
Comparative Statement of Financial Activities (Note 21) 32
for the year ended 31 December 2020

1

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

REFERENCE AND ADMINISTRATIVE DETAILS

Governing Documents

29 charities are administered under the title of Salisbury City Almshouse and Welfare Charities. The charities are all constituted as charitable trusts, and they are governed by a Charity Commission Scheme dated 19 August 1974 as varied by schemes dated 8 April 1975, 19 July 1979, 4 July 1986, 6 September 1990 and 18 December 2001.

The registration also includes the linked charities known as Mrs Sarah Hayter’s Charity and The Buchanan Housing Charity which are governed by a scheme dated 28 March 1961 (varied by a scheme dated 26 August 1997) and a declaration of trust dated 5 November 1999 respectively. Also linked is the St Mary Magdalen’s Hospital and Little Langford Farm Almshouse Charity which is governed by a scheme dated 4 October 2017. The Charities are a registered with the Homes and Communities Agency under the Housing and Regeneration Act 2008 as a Registered Social Landlord.

The Trustees’ investment powers derive from the 1974 Scheme and the Trustee Act 2000.

Registered Office

Trinity Hospital, Trinity Street, Salisbury, SP1 2BD (01722 325640)

Registered Numbers

Charity number 202110 Registered Social Landlord number A0192

Honorary President

Lady Benson OBE

Board of Trustees

Mr T Austreng - Chairman Mr A Corkill - Vice-Chairman Mr T Clay Mrs A Hatton Dr R Hewetson Mrs P M Lush Dr H McKeown Mr P W K Moss (retired September 2021) Mr R W Shipsey Mrs A Taylor Mr A Brain Mrs F Green * denotes a member of Finance and General Purposes Committee.

The Board of Trustees and the Charities’ staff also manage and administer two other charities:

William Botley Charity (Charity number 268418) Salisbury City Educational and Apprenticing Charity (Charity number 309523)

Principal Officer

Clerk to the Trustees: Mrs S E Coen

Appointed Professional Advisers Solicitors Trethowans, London Road Office Park, London Road, Salisbury SP1 3HP Sampson Coward, 51 New Street, Salisbury SP1 2PH Auditors/Accountants Fletcher & Partners, Crown Chambers, Bridge Street, Salisbury SP1 2LZ Bankers Lloyds Bank plc, 38 Blue Boar Row, Salisbury SP1 1DB Investment Managers CCLA Investment Management Ltd, Senator House, 85 Queen Victoria Street, London EC4V 4ET M&G Securities Ltd, POB 9038, Chelmsford CM99 2XF Vanguard Asset Management Ltd, 25 Walbrook, London EC4N 8AF Quilter Cheviot Ltd, London Rd Office Park, Salisbury SP1 3HP

2

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 (Continued)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisation

The Trustees have established procedures under which all major decisions are taken by the Trustees as a body, with advice being taken from their appointed professional advisers as appropriate. Sub-committees of the Trustees, including the Finance and General Purposes Committee, are established as necessary to consider particular matters and to make recommendations to the main Board. Day-to-day management and administration is delegated to the Clerk to the Trustees.

Policies and Procedures

In carrying out the objects stated below, the Trustees seek to provide a high standard of accommodation as is feasible and necessary to meet the increasing needs of their Residents, and to provide welfare grants to needy persons out of the funds which they have available for the purpose. They apply the following policies for the appointment of Residents and the making of grants, to applicants who are resident in the defined area of benefit:

The Charities’ established policies are reviewed and amended where appropriate. Trustee recruitment conforms to the agreed policy statement which entails the periodic requirement to conduct a skills audit and compilation of a list of potential candidates from which a selection can be made for preliminary interview and final Board approval. Induction follows a process of visits to almshouse sites, meetings with Residents and staff and overlaying information relating to the functions and values of the Charities through issuance of related documentation such as, inter alia, Annual Report and Audited Accounts, the Charities' Governing Instrument and the Charity Commission's booklet CC3 and other relevant documents. Ongoing training, primarily through seminars offered by the Almshouse Association, is offered to all Trustees.

The Charities’ policies and procedures, together with the system of internal control, are designed to manage risk and to give reasonable assurance that key objectives and expected outcomes are achieved. The principal risks faced by the Trustees identified in the report last year still stand:

The Charities have undertaken an assessment of their compliance with the Governance and Financial Viability Standard and certify compliance with the Standard during the course of the year and with the Charity Code of Governance.

Staff remuneration is reviewed annually and any increases are based upon inflation figures. When available, more specific comparisons are made with other almshouse charities of a similar size and operation.

3

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 (Continued)

OBJECTIVES AND ACTIVITIES

Objectives

The Charities provide for needy residents principally in the Salisbury area:

The Trustees are satisfied that the Charities' objectives, and the policies and procedures which are applied, comply with Section 4 of the Charities Act 2011. The provision of subsidised, high quality housing for over 200 local residents and the application of welfare grants to the most needy is tangible evidence of public benefit within the Charities' area of benefit. In addition, the large number of applicants, from a wide variety of backgrounds, waiting for accommodation is evidence of the benefit the almshouses have to the local population. The Trustees also consider that the Buchanan Housing Charity's provision of 24 units of social housing in Salisbury has made a modest contribution to the community that would otherwise become the responsibility of the local council. The Trustees aim to keep resident contributions as low as possible, taking into account directives from the Regulator of Social Housing. Communal facilities at one site are made available twice weekly to a Day Centre charity which offers lunch and activities to the elderly, ensuring that the wider community benefits from the Charities' resources.

The Charities own and manage 189 warden-assisted almshouses at 12 sites in and around Salisbury. Six fulltime Wardens, as well as part-time Wardens at the Very Sheltered schemes, are employed to ensure that residents' needs are met and a pleasant and safe environment provided. In addition, a Relief Warden is employed to provide cover for emergencies at weekends and public holidays, as well as cover for holidays and sick leave. The two Very Sheltered schemes are designed for those people who need additional support but are still capable of independent living. These sites have additional facilities such as assisted bathrooms, are fully wheelchair accessible, lunches are provided and staff are on site 24 hours a day, seven days a week.

Ordinary Sheltered Blechynden's Almshouses - 3 flats Hardy House - 16 flats Brickett's Hospital - 7 houses Hussey's Almshouses - 7 flats, 8 houses 'Brympton' - 31 flats, 10 bungalows Sarah Hayter's Almshouses - 11 flats Eyre House - 8 flats Taylor's Almshouses - 6 flats Gloucester House - 25 flats Trinity Hospital - 22 flats Very Sheltered Robert Stokes Almshouse - 13 flats Steve Biddle House - 22 flats

The Trustees also manage 24 general needs flats/houses (The Buchanan Housing Charity) within the city, primarily for young families. A further six almshouses (St Mary Magdalen Hospital) were given to the Charities in 2017, and these are currently being renovated. The Charities have recently constructed five new almshouses on an adjacent site and these are now ready for occupation. The Charities also own the freehold of a number of buildings in the centre of Salisbury comprising both retail and residential properties.

Activities

The Charities’ staff continued to work hard throughout the year to ensure that the Residents were safeguarded as far as was possible against Covid-19. Government guidelines were adhered to whilst staff endeavoured to ensure that Residents were fully supported. There were no Covid-related fatalities during the year.

Despite lockdown restrictions, the Charities continued their intensive programme of property maintenance, wherever it was possible to do so safely, improving almshouses as vacancies occurred, to ensure the accommodation is of the highest standard possible and, wherever possible, making adaptations to meet the needs of individual residents as their circumstances change. Routine and cyclical work is sub-contracted to Salisbury-based tradespeople on the Charities’ approved list. Charge out rates and invoices are routinely scrutinised to ensure value for money. Where possible and within safety guidelines, minor maintenance works are carried out by the Charities’ Buildings Maintenance Officer. Contracts for major works are put out to tender, for which specification and contract administration is undertaken either by the Buildings Maintenance Officer or a chartered surveyor as appropriate.

4

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 (Continued)

Activities (continued)

The programme of upgrading the older kitchens and installing low level access showers for Residents who are unable to use a bath continued. Two kitchens and two bathrooms were upgraded over the year. Other major work undertaken during the year included upgrading the Tunstall emergency call system at Gloucester House, and the smoke detection systems at all almshouse sites. Lighting upgrades in external and internal communal areas continued in order to improve energy efficiency and to enhance the quality of lighting for residents.

The conversion of the former Warden accommodation into two new almshouse flats at Robert Stokes Almshouse continued during the year, one of which was completed. The major refurbishment of one of the Charities’ city centre residential investment properties was completed to bring the property up to modern standards and new tenants moved in October.

Work continued to modernise and refurbish the Grade II listed terrace of six cottages at St Mary Magdalen Hospital in Wilton. The plans include the construction of a rear single storey extension to create additional kitchen space in the middle two properties; replacing the existing staircases with wider, more shallow, straighter staircases to improve accessibility and to comply with current building regulations; ground floor WCs; maximising insulation; replacement double glazed windows where possible; a centralised heating system and underfloor heating at ground level; new kitchens and bathrooms. The pandemic and subsequent supply issues caused delays in the schedule. In addition, theft of lead from the roofs caused extensive damage and further delays. However, it is anticipated that the first modernised cottage will be ready for occupation mid-2022.

Progress in completing the five new bungalows was also delayed due to the pandemic but, by the end of the year, it was anticipated that the one bedroom properties would be ready for occupation early in 2022. By the end of the year, the new communal boiler plant was commissioned and operational. A survey had been carried out prior to work commencing to investigate an eco-friendly energy source but this had not been considered viable at the time due to the small size of the site. However, the new boilers have been designed with the ability to be adapted for use with a hydrogen methane gas mix should this become standard, or supplemented with an alternative heat source.

The Trustees interviewed those who had applied for the Wilton properties and appointments were made, priority being given to residents of Wilton and the surrounding parishes who are in financial need.

The Charities’ staff training programme continued to be suspended because of the pandemic but First Aid and Fire Warden training was undertaken as appropriate. Continual monitoring of the quality of services provided by the Charities and addressing issues raised was achieved through weekly planning and feedback meetings between Wardens and the Clerk to the Trustees.

All almshouse and Buchanan Charity residents were invited to participate in the annual survey of their opinions about the services and facilities provided by the Charities. Of the residents who responded to the questionnaire, over 94.5% indicated continued satisfaction with the services and facilities provided.

The Wessex Almshouse Group, of which the Clerk to the Trustees is a founding member, continued to meet, albeit virtually, during the year as a forum for local almshouse charity Clerks/Trustees to discuss common issues of concern and to provide mutual support. This mutual exchange of information and best practice is considered to be of great benefit to all member charities. All costs are recouped by individual member charities paying a portion of the expenses incurred. The Clerk to the Trustees is also a Regional Champion for the National Almshouse Association, acting as a point of contact for almshouse charities in Wiltshire.

5

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 (Continued)

ACHIEVEMENTS AND PERFORMANCE

The work of the Charities in managing and administrating the almshouses continued successfully throughout the year. At the end of 2021, of the total 209 (2020:204) Residents (excluding the Buchanan Housing Charity), over 44% were aged 80 years or older. Despite the lockdown periods, the Trustees appointed 21 new residents as qualifying beneficiaries to the almshouses, and approved two transfers on medical grounds. The continuing commitment of the Charities’ staff and the high standard of service they provide ensures the wellbeing of each resident and enables them to maintain their independence with contentment and dignity. This, in turn, allows the residents to remain in their own homes for as long as possible, thereby reducing unnecessary and premature admission to hospital or residential care. Staff turnover is very low which reinforces the organisation's strong caring culture. Almshouse vacancies in both warden assisted and general needs properties are, under normal circumstances, filled without undue delay, demonstrating that the Charities’ housing continues to be popular and helps to provide good quality of life.

The Trustees considered 41 (2020: 48) and approved 39 welfare grant applications totalling £21,879 (2020: £28,317). This included grants awarded not just to eligible local individuals in financial need but also to local organisations and institutions with similar aims, thus helping to maximise the impact of grant assistance to people in need in the Salisbury area.

Financial Transactions and Position

The Charities’ total income in 2021 was £1,855,324 (2020: £1,828,024), of which £1,350,758 was from Residents’ Contributions and £343,345 was investment income. Total expenditure was £1,629,226, including charitable grants of £21,879. The Charities' investments recorded net gains of £1,689,179 and therefore there was a net surplus for the year of £1,928,693. This was made up of unrestricted funds £499,978; restricted £699,835 and endowed capital £728,880. Total net assets at the end of the year were £22,716,824 (2020: £20,788,131).

The Trustees consider that the market value of the almshouses is considerably in excess of their book value, but, as the properties are held on permanent endowment for carrying out the charitable purposes of the Charities, they do not consider that a formal valuation would be justified.

Investments

The investment policy is to hold the Charities' investments in a combination of directly invested segregated portfolios and a number of charity authorised investment funds and to obtain a total return in line with or better than the ARC balanced index. During the year the total return on the endowed portfolio was +15.5%, and the total return on the non-endowed portfolio was +14.4%, compared with a return of +13.1% and +8.2% on the respective indices. This contrasted with 2020 when performance was slightly below that of the index. Investment performance was positively affected by the relatively high allocation of UK equities, particularly in the endowed portfolio, which is held to generate growing income in the long term.

Reserves

The Trustees have calculated that the Charities' working capital requirements amount to £360,000, and this amount is held in the General Fund less provisions for pension deficits. Any surplus on unrestricted funds is transferred to the Almshouse Development and Major Improvement Fund, and is used to fund almshouse developments once sufficient funding has been obtained. This fund, which has recently been drawn on to fund the new almshouses at Wilton, currently stands at £4,705,688. The Trustees' intention is to continue to increase the balance from the Charities' annual surpluses and to draw on it for further developments as they arise. Similarly the Trustees' policy is to use the General Fund of the Buchanan Housing Charity to fund either the purchase or the construction of further houses for general needs, once it has reached a sufficient level; and following the purchase of two houses in 2019 this fund is currently being rebuilt.

6

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 (Continued)

FUTURE PLANS

The rolling programme of upgrading the older almshouses, particularly with the installation of low-level access showers and upgrading lighting in communal areas, will continue, ensuring that the Charities continue to provide the highest possible quality of housing and respond to the developing needs of its residents.

It is anticipated that the major projects at the Wilton site will be completed, as well as the creation of two new almshouse flats on the top floor of Robert Stokes Almshouse, although timing will depend on the availability of materials and government restrictions during the year.

The ageing suited locks at all almshouse sites will be replaced. Boiler control systems will be upgraded to improve efficiency and permit remote monitoring and management.

Approved by the Trustees and signed on their behalf

……………… 2022 ………………………….. ……………………………. T AUSTRENG S E COEN Chairman of Trustees Clerk to the Trustees

7

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES

YEAR ENDED 31 DECEMBER 2021 TRUSTEES' STATEMENT ON INTERNAL CONTROLS

  1. The Trustees acknowledge that they are responsible for the Charities' system of internal control, and for reviewing its effectiveness.

  2. In common with all such systems, the Charities' internal control system is designed to manage, rather than to eliminate, the risk of failure to meet the Charities' objectives, and it can only provide reasonable, as opposed to absolute, assurance against material misstatement or loss.

  3. The process for identifying, evaluating and managing the significant risks faced by the Charities is ongoing, it has been in place throughout the year under review and up to the date of approval of the annual report and accounts; and it is regularly reviewed by the Trustees.

  4. The Trustees' policies to review the effectiveness of the internal controls are as follows:

  5. (i) The presentation to and consideration by the Trustees of the annual review of the risk assessment and the annual accounts;

  6. (ii) The regular review by the Trustees of the effectiveness of Charities' procedures

  7. (iii) The annual report to the Trustees by the external auditor.

  8. The key policies which have been established by the Trustees and which are designed to provide effective internal control are as follows:

  9. (i) The establishment of formal procedures including the involvement of the Trustees in all matters connected with the management of the Charities, including: Strategic planning;

    • Risk assessment;

    • Preparation of budgets and comparison of actual results with budget; Authorisation of expenditure, including capital projects and grants Appointment of almshouse residents; Appointment of staff; Management of investments.

  10. (ii) The holding of regular Trustees' meetings to which reports on the above matters are submitted.

  11. (iii) The appointment of external auditors to express an opinion on the Charities' annual accounts and to report to the Trustees on any deficiencies in the system of internal controls which come to their attention during the course of their audit;

  12. (iv) The regular reporting to the Trustees of matters including potential new risks and regulatory developments which are relevant to the Charities' activities.

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE PREPARATION OF THE ACCOUNTS

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice, including the Statement of Recommended Practice Accounting and Reporting by Charities (FRS102).

Charity and Housing law requires the Trustees to prepare financial statements, for each financial year, which give a true and fair view of the state of affairs of the Charities and of the surplus or deficit of the Charities for that period. In preparing these financial statements, the Trustees are required to:

Select suitable accounting policies and then apply them consistently.

Make judgements and estimates that are reasonable and prudent.

Follow applicable accounting standards, subject to any material departures disclosed and explained in the accounts.

Prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charities will continue to exist.

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charities and to enable them to ensure that the accounts comply with the provisions of the Charities Act 2011, the Accounting Direction for Private Registered Providers of Social Housing 2019. They are also responsible for safeguarding the assets of the Charities

and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

8

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES

Opinion

We have audited the financial statements of Salisbury City Almshouse and Welfare Charities for the year ended 31 December 2021, which are set out on pages 11 to 32.

These comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement, and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorʼs responsibilities for the audit of the financial statements section of our report. We are independent of the Charities in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCʼs Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charities' ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Trustees' Annual Report, other than the financial statements and our auditorʼs report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.

If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

9

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES (Continued)

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

i) the information given in the financial statements is inconsistent in any material respect with the Trustees' Report; or

ii) sufficient accounting records have not been kept; or iii) the financial statements are not in agreement with the accounting records; or iv) we have not received all the information and explanations we require for our audit.

Responsibilities of Trustees

As explained more fully in the Trustees' Responsibilities Statement, set out on page 8, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Charities' ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charities or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorʼs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Our audit procedures were designed to provide reasonable assurance that they would detect irregularities, including non-compliance with relevant laws and regulations, and fraud. They included

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Councilʼs website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditorʼs report.

Use of our report

This report is made solely to the Trustees, as a body, in accordance with section 128 of the Housing and Regeneration Act 2008, section 144 of the Charities Act 2011 and the regulations under section 154 of that Act. Our audit work has been undertaken so that we might state to the Trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not assume responsibility to anyone other than the Charities and Trustees as a body, for our audit work, for this report or for the opinions we have formed.

……………………………………………….. FLETCHER & PARTNERS Chartered Accountants and Statutory Auditors

Date: ………………………. Crown Chambers, Bridge Street, Salisbury SP1 2LZ

Fletcher & Partners is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

10

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES STATEMENT OF FINANCIAL ACTIVITIES (STATEMENT OF COMPREHENSIVE INCOME) FOR THE YEAR ENDED 31 DECEMBER 2021

Note
INCOME FROM
Charitable Activities
Turnover
Residents' contributions
2
Housing Related Support
2
Government grant income
2
Surplus on disposal
Donations and legacies
Investments
3
Other income
Total income
EXPENDITURE ON
Raising Funds
Investment costs
4
Charitable Activities
Almshouse operating costs
2
Almshouse management
2
Interest
5
Welfare grants
7
Total expenditure
Net income/(expenditure) before gains
OTHER GAINS AND LOSSES
Realised gains/(losses) on disposal:
Investments
Unrealised gains/(losses) on revaluation:
Investments
Investment properties
Pension scheme revaluation
15
Net income/expenditure
Transfers between funds
18
Net movement in funds
Fund balances at 25 December 2020
Fund balances at 31 December 2021		 Unrestricted
Funds
864,367
67,704
67,291
999,362
-
429
272,071
21,229
1,293,091
135,100
893,894
297,083
15,011
1,205,988
21,879
1,227,867
1,362,967
(69,876)
61,675
534,893
-
13,416
540,108
(40,130)
499,978
7,421,604
£7,921,582		 Restricted
Funds
486,391
3,141
-
489,532
-
-
71,100
1,427
562,059
-
194,723
42,669
-
237,392
-
237,392
237,392
324,667
-
336,308
-
-
660,975
38,860
699,835
6,035,072
£6,734,907		 Endowment
Total
Total
Funds
2021
2020
-
1,350,758
1,342,234
-
70,845
71,990
-
67,291
67,291
-
1,488,894
1,481,515
-
-
-
-
429
1,835
174
343,345
323,042
-
22,656
21,632
174
1,855,324
1,828,024
11,679
146,779
28,210
17,188
1,105,805
1,258,337
-
339,752
322,769
-
15,011
15,125
17,188
1,460,568
1,596,231
-
21,879
28,317
17,188
1,482,447
1,624,548
28,867
1,629,226
1,652,758
(28,693)
226,098
175,266
36,755
98,430
(34,241)
629,548
1,500,749
194,114
90,000
90,000
(180,000)
-
13,416
-
727,610
1,928,693
155,139
1,270
-
-
728,880
1,928,693
155,139
7,331,455
20,788,131
20,632,992
£8,060,335
£22,716,824
£20,788,131		 Total
2020
1,342,234
71,990
67,291
1,481,515
-
1,835
323,042
21,632
1,828,024
28,210
1,258,337
322,769
15,125
1,596,231
28,317
1,624,548
1,652,758
175,266
(34,241)
194,114
(180,000)
-
155,139
-
155,139
20,632,992

Approved by the Trustees on.....................................2022 and signed on their behalf

.............................................. T Austreng (Chairman) .............................................. T Clay (Trustee)

.............................................. S Coen (Clerk to the Trustees)

11

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES BALANCE SHEET AT 31 DECEMBER 2021

Note
FIXED ASSETS
Assets treated as held on endowment
Almshouse properties
8a
Offices
8b
Investment properties
8c
Investments held on endowment
8d
Assets purchased from income
Investments recouped
9
Equipment, furniture,
fixtures and fittings
10
Total fixed assets
CURRENT ASSETS
Debtors
11
Investments
12
Cash at bank and in hand
CREDITORS: Amounts falling due
within one year
13
Net current assets
Total assets less current liabilities
CREDITORS: Amounts falling due
after more than one year
14
PROVISIONS FOR LIABILITIES
AND CHARGES
15
CAPITAL AND RESERVES
Capital
Endowment
16
Endowment recouped
9 & 17
Reserves
Restricted funds
18
Unrestricted funds
19		 2021
7,287,248
25,178
1,490,000
5,835,237
14,637,663
102,039
56,578
14,796,280
48,411
8,082,625
2,043,686
10,174,722
216,165
9,958,557
£24,754,837
2,031,256
6,757
£22,716,824
7,958,296
102,039
8,060,335
6,734,907
7,921,582
£22,716,824
-		 2020 2020
48,411
8,082,625
2,043,686
10,174,722
216,165
7,958,296
102,039		 47,264
7,440,676
2,097,154
9,585,094
279,777
7,245,749
85,706		 6,863,691
26,077
1,400,000
5,195,504
13,485,272
85,706
38,048
13,609,026
9,305,317
£22,914,343
2,099,836
26,376
£20,788,131
7,331,455
6,035,072
7,421,604
£20,788,131

Approved by the Trustees on.....................................2022 and signed on their behalf

.............................................. T Austreng (Chairman) .............................................. T Clay (Trustee) .............................................. S Coen (Clerk to the Trustees) 12

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021

2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash provided by (used in) operating activities
(1)
8,123
CASH FLOWS FROM INVESTING ACTIVITIES
Dividend, interest and rents from investments
282,599
Purchase/improvement of housing property
(657,745)
Purchase of other fixed assets
(33,556)
Proceeds from the sale of housing property
-
Purchase of investments
(1,175,212)
Proceeds from the sale of investments
1,507,436
Net cash provided by (used in) investing activities
(76,478)
CASH FLOWS FROM FINANCING ACTIVITIES
Interest paid
(15,011)
Housing Loans repaid
(1,162)
Net cash provided by (used in) financing activities
(16,173)
Change in cash and cash equivalents in the
reporting period
(£84,528)
Cash and cash equivalents at the beginning of the
reporting period
£2,203,267
Cash and cash equivalents at the end of the
reporting period
(2)
£2,118,739
NOTES
1. Reconciliation of net income/(expenditure) to net cash flow from operating activities
2021
Net income/(expenditure) for the reporting period (as per
the statement of financial activities)
1,928,693
Adjustments for:
Depreciation charges
219,990
(Gains)/losses on investments
(1,689,179)
Dividend, interest and rents from investments
(343,345)
Interest paid
15,011
(Increase)/decrease in debtors
(2,521)
Increase/(decrease) in creditors
(100,907)
Increase/(decrease) in provisions
(19,619)
Net cash provided by (used in) operating activities
£8,123
2. Analysis of cash and cash equivalents
Balance
31.12.21
Cash at bank and in hand
2,043,686
Cash held in investment portfolio
76,427
£2,120,113		 2020 2020
249,618
(85,775)
(17,412)
-
(1,094,064)
749,929
(15,125)
(1,048)		 34,860
(197,704)
(16,173)
(£179,017)
£2,382,284
£2,203,267
2020
155,139
215,946
20,127
(323,042)
15,125
(1,072)
(42,114)
(5,249)
£34,860
Balance
31.12.20
2,097,154
106,113
£2,203,267

13

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021

1. ACCOUNTING POLICIES

a. Basis of Accounting:

(1) Although the Charities are a Registered Provider of Social Housing, they are primarily an endowed almshouse and welfare charity. The Trustees have therefore drawn up the Financial Statements to reflect this. The Charities are a public benefit entity. The accounts are presented in Sterling. (2) The Financial Statements have been prepared under the historical cost convention, modified by the revaluation of investment assets. They comply with the Accounting Direction for Registered Providers of Social Housing from January 2019, the Housing SORP 2014 (2018 Update), Financial Reporting Standard 102 (FRS 102) the Statement of Recommended Practice on Accounting and Reporting by Charities (FRS 102) and with applicable accounting standards, except where those statements are inconsistent.

The Trustees consider that there are no material uncertainties regarding the Charities' ability to continue as a going concern. Two significant areas of future uncertainty are the performance of investments and the effects of the Covid-19 pandemic (and the Government's response to it).

The Trustees are required to make judgements, estimates and assumptions that are reviewed on an ongoing basis and are based on historical experience and other factors that are considered relevant, including future events that are considered reasonable.

b. Turnover

Turnover represents the contributions receivable from Almshouse Residents towards maintenance and services, plus Government grants towards revenue expenditure.

c. Investment Income and Charitable Grants These form part of the operating income and expenditure of the Charities, and are therefore included in the Operating Surplus or Deficit.

Donations for specific purposes are shown in the income and expenditure account and a corresponding transfer is shown to the relevant restricted fund. Donated land is included at the value at the date of donation. Income from these sources is recognised when it is probable that it will be received and when the value can be measured reliably.

Social housing assistance, previously known as Social Housing Grants and Housing Association Grants (HAG), paid by the Homes and Communities Agency (formerly the Housing Corporation), or the Local Authority, towards the cost of a development, are recognised as income using the accrual model (as the Charities account for their housing properties at cost). The income is recognised over the expected useful life of the housing property structure. Grant income relating to future years is deferred and split between creditors less than and greater than 1 year. The grants could be repayable in the event that the relevant properties were sold. A liability is not recognised in respect of this as the likelihood is remote. The Trustees will provide for a liability in the event of a decision being made to sell one of the properties.

g. Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. Short term, highly liquid investments are accounted for as fixed asset investments. Investment properties are revalued annually.

14

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021 (CONTINUED)

Depreciation is charged to write off tangible fixed assets, over their useful economic lives, by equal instalments commencing in the year of acquisition. The following rates are used:

Almshouses and Offices

Almshouses and Offices 2% to 20% Equipment, Furniture, Fixtures and Fittings (EFF&F) 10% to 20%

Depreciation on those parts of the costs of almshouse and office buildings which have been funded from the Charities' endowed capital, in accordance with the applicable Charity Commission Schemes, is charged to the corresponding endowed capital account. It is therefore shown in the Endowment Funds column of the Statement of Financial Activities.

Cash at bank and in hand includes cash and cash on deposit.

Liabilities are recognised when it is more probable than not that a transfer of economic benefits will be made as a result of past transactions or events, and when the value can be measured reliably. Deferred income represents Housing Association Grant income spread over the life of the properties.

m. Financial Instruments

The Charities only have financial assets and liabilities of a kind that qualify as basic financial instruments. They are initially recognised at transaction value and subsequently measured at their settlement value.

Expenditure charged to endowment funds is shown in the Income and Expenditure Account and transferred to the endowment funds.

The Trustees have established Restricted Funds for Cyclical Maintenance and Extraordinary Repairs in accordance with the provisions of their Charity Commission Schemes. Each year, the Trustees calculate the annual charges under their programme for Cyclical Maintenance and Extraordinary Repairs and include these in the Maintenance Contributions charged to Almshouse Residents.

The income shown in the Income and Expenditure Account includes the element of the Maintenance Contributions relating to the Restricted Funds, and the income on the underlying investments. The expenditure includes costs incurred on Cyclical Maintenance and Extraordinary Repairs. The net amount of the retained surplus or deficit of the Restricted Funds is then deducted from the total surplus for the year to leave the surplus before appropriations.

p. The Blechynden & Brown Almshouse Charity Under the terms of the Charity Commission Scheme dated 6 September 1990, the Blechynden and Brown Almshouse Charity is administered as one of the Salisbury City Almshouse and Welfare Charities, but subject to greater restrictions on the beneficiary group. Following the closure of the first Order for the recoupment of sums spent on the reconstruction of the Blechynden's Almshouses, therefore, the corresponding investment has to continue to be identified separately and the income applied for the benefit of this Charity.

Under the terms of the Uniting Direction made by the Charity Commissioners, the accounts of Mrs Sarah Hayter's Charity are to be combined with those of the Salisbury City Almshouse & Welfare Charities but the assets and liabilities are to be identified separately. Since the objects of Mrs Sarah Hayter's Charity are within those of the Salisbury City Almshouse & Welfare Charities, its assets and liabilities have been treated as forming a restricted fund.

This charity is registered by the Charity Commission within the group registration of the Salisbury City Almshouse and Welfare Charities. Since its objects are within, but more restricted than, those of the Salisbury City Almshouse and Welfare Charities, its assets and liabilities have been treated as forming a restricted fund.

15

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021

(CONTINUED)

This represents the extent to which almshouse buildings have been funded from the Charities' accumulated income (Note 19). Equivalent funds have been established in respect of Mrs Sarah Hayter's Charity and the Buchanan Housing Charity.

This consists of accumulated income which has been set aside by the Trustees for the Development and Major Improvement of Almshouses. When work is capitalised and funded from this Reserve (Note 19) an amount equal to the cost is transferred to the Internal Property Fund. Other expenditure charged to this fund is also shown in Note 19.

u. Expenditure

Expenditure is accrued as soon as a liability is considered probable and the amount of the obligation can be reliably measured. Expenditure is accounted for on an accruals basis and has been classified under the headings that aggregate all cost related to that category.

Management and Administration Costs

Costs which cannot be attributed directly are apportioned between the management of the almshouses, generation of income and governance of the Charities, according to the time spent by the office staff on the various activities.

Contributions payable to the Charities' defined contribution scheme are charged as expenditure in the period to which they relate.

w. Provisions

Provisions are recognised when the Charities have a present obligation as a result of a past event and it is probable that the Charities will be required to settle the obligation. Provisions are measured at the Trustees' best estimate of the amount required to settle the obligation.

Housing Related Support, previously known as Supporting People, income is shown as a separate item within Turnover. Because of the nature of the Charities' activities it is not meaningful separately to identify the related expenditure and it is therefore included in Almshouse Operating Expenditure.

y. Value Added Tax

Irrecoverable Value Added Tax is included with the relevant expenditure.

This charity and its property were transferred to the Charities by a Charity Commission Scheme dated 4 October 2017. The combination has been accounted for using acquisition accounting because it did not meet the conditions for merger accounting. The assets and liabilities have been treated as forming a restricted fund.

16

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021 (CONTINUED)

2.1 TURNOVER AND OPERATING COSTS - 2021

a. Turnover and Operating Costs from Almshouses

General
Needs
Turnover
Residents' contributions receivable:
Maintenance
141,193
Less voids
-
Service charges (not eligible for housing benefit):
Heating and hot water
-
Catering
-
Electricity
-
Less voids
Housing Related Support
-
Amortised government grants
-
141,193
Operating expenditure
Services: Heating and hot water
-
Services: Catering
-
Electricity (for communal areas) and water
254
Wardens, cleaners and gardeners
-
Speech Call Alarm systems
-
Routine maintenance
5,663
Cyclical maintenance
12,198
Major repairs and improvements
2,380
Building depreciation
39,427
Bad debts
-
Other costs
8
59,930
Management and administration (Note 2b)
23,590
83,520
Operating surplus(deficit)
£57,673		 Supported
Housing
1,007,311
(39,620)
133,325
94,581
18,422
(4,454)
70,845
67,291
1,347,701
86,989
79,124
79,596
405,122
28,863
96,484
48,741
41,076
164,647
1,442
13,791
1,045,875
316,162
1,362,037
(£14,336)		 2021
Total
1,148,504
(39,620)
133,325
94,581
18,422
(4,454)
70,845
67,291
1,488,894
86,989
79,124
79,850
405,122
28,863
102,147
60,939
43,456
204,074
1,442
13,799
1,105,805
339,752
1,445,557
£43,337		 2020
Total
1,119,165
(24,578)
133,091
99,736
18,606
(3,786)
71,990
67,291
1,481,515
75,215
81,450
79,077
399,731
26,634
115,996
169,916
96,356
204,073
1,227
8,662
1,258,337
322,769
1,581,106
(£99,591)

b. Management and Administration (Support costs)

Staff costs
Office expenses
Staff training and recruitment
Auditors' remuneration (Note 7)
Legal and professional fees
Insurance
National Association of Almshouses costs		 Management Governance
11,822
1,508
-
11,143
3,363
-
-
£27,836		 2021
236,430
30,167
3,741
12,643
9,508
43,263
4,000
£339,752		 2020
228,808
31,542
3,605
12,498
3,080
39,566
3,670		 2020
224,608
28,659
3,741
1,500
6,145
43,263
4,000
£311,916
£322,769

17

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021 (CONTINUED)

2.2 TURNOVER AND OPERATING COSTS - 2020

a. Turnover and Operating Costs from Almshouses

Turnover
Residents' contributions receivable:
Maintenance
Less voids
Service charges (not eligible for housing benefit):
Heating and hot water
Catering
Electricity
Less voids
Housing Related Support
Amortised government grants
Operating expenditure
Services: Heating and hot water
Services: Catering
Electricity (for communal areas) and water
Wardens, cleaners and gardeners
Speech Call Alarm systems
Routine maintenance
Cyclical maintenance
Major repairs and improvements
Building depreciation
Bad debts
Other costs
Management and administration (Note 2b)
Operating surplus(deficit)		 General
Needs
137,721
-
-
-
-
-
-
137,721
-
-
189
-
-
9,890
25,757
4,272
39,426
-
310
79,844
22,894
102,738
£34,983		 Supported
Housing
981,444
(24,578)
133,091
99,736
18,606
(3,786)
71,990
67,291
1,343,794
75,215
81,450
78,888
399,731
26,634
106,106
144,159
92,084
164,647
1,227
8,352
1,178,493
299,875
1,478,368
(£134,574)		 2020
Total
1,119,165
(24,578)
133,091
99,736
18,606
(3,786)
71,990
67,291
1,481,515
75,215
81,450
79,077
399,731
26,634
115,996
169,916
96,356
204,073
1,227
8,662
1,258,337
322,769
1,581,106
(£99,591)

b. Management and Administration (Support costs)

Staff costs
Office expenses
Staff training and recruitment
Auditors' remuneration (Note 7)
Legal and professional fees
Insurance
National Association of Almshouses costs		 Management

217,368
29,965
3,605
1,490
2,000
39,566
3,670
£297,664		 Governance
11,440
1,577
-
11,008
1,080
-
-
£25,105		 2020
228,808
31,542
3,605
12,498
3,080
39,566
3,670
£322,769

18

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021 (CONTINUED)

3. INVESTMENT INCOME

Rents receivable from investment properties
Income from endowed asset investments
Income from current asset listed investments
Accumulated income on current asset listed investments
Other interest
4. RAISING FUNDS
Investment management fees
Investment property expenditure
5. INTEREST PAYABLE
Interest on Housing Loans (partly repayable in more than five years)		 2021
76,219
165,085
41,385
60,411
245
£343,345
2021
20,489
126,290
£146,779
2021
£15,011		 2020
66,879
137,537
39,963
73,717
4,946		 2020
£323,042
2020
15,729
12,481
£28,210
2020
£15,125		 2020

6. EMPLOYEE AND TRUSTEE INFORMATION

a.
Employee Numbers
Office staff
Almshouse staff - wardens, cleaners, cooks
Buildings Maintenance Officer
Total full-time equivalent
b.
Staff Costs
Salaries
Social security costs
Pension costs		 2021 2020
Part time
Full time
Part time
1
4
1
18
7
20
-
1
-



19
12
21



22
___
2021
2020
621,883
608,359
48,031
46,681
28,477
28,008
£698,391
£683,048		 2020 2020
Full time
4
7
1

12

22
___		 Part time
1
20
-

21

2020
608,359
46,681
28,008
£683,048

There was one employee during the year whose emoluments were in the band £60,000 to £70,000 (2020: one).

The Clerk to the Trustees is the only paid director of the Charities, under the definition given by the Accounting Direction for Private Registered Providers of Social Housing 2019.

The Charities consider their key management personnel to be the Clerk to the Trustees. The total remuneration including pension contributions of £3,129 paid to this employee during the year was £65,706 (2020: £64,670). The Clerk is an ordinary member of the Charities' pension scheme.

c. Trustees' Emoluments

No remuneration was paid to the Trustees of the Charities in 2021 or 2020. Total expenses reimbursed to Trustees for travel and not chargeable to United Kingdom income tax were £Nil (2020: £Nil). A premium of £885 (2020: £818) was paid for Trustee Indemnity Insurance.

19

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021 (CONTINUED)

d. Pension Scheme

The Charities operate a pension scheme on behalf of the employees. The assets of this scheme are held separately from those of the Charities in an independently administered fund. Although this scheme is principally a defined contributions scheme, for certain members it qualifies as a multi-employer defined benefit scheme. As the Charities are unable to identify their share of the assets and liabilities in this part of the scheme, in accordance with FRS 102 it has been accounted for as a defined contribution scheme, but with the inclusion of a provision for the recovery of arrears as shown in Note 15.

Contributions paid in the year were as shown above and amounts payable to the scheme at the end of the year were £87 (2020: £96).

On the basis of the most recent Triennial actuarial valuation of the scheme in September 2020, the Charities will need to make further contributions to the scheme in relation to past service for three years from 1 April 2022. In accordance with FRS 102 the accounts include a provision for this amount which is shown in Note 15. The Charities contributed £6,203 during 2021 (2020: £6,023).

In the event that the Charities were to withdraw from the Scheme a further contribution would be required which on the basis of the most recent valuation (30 September 2020) would amount to £73,097. This has not been provided for in the accounts as the Trustees consider that withdrawal is improbable.

7. SURPLUS ON ORDINARY ACTIVITIES

This is stated after charging:

Depreciation of almshouse and office buildings
Depreciation of other tangible fixed assets
Welfare Grants:
To individuals
To other Charities in the Salisbury area:
Elderly
Vulnerable and homeless
Auditors' remuneration:
In their capacity as auditors
For taxation and other services
And after crediting:
Grants received from William Botley Charity
Management fees charged to
William Botley Charity
Salisbury City Educational and Apprenticing Charity		 2021
£204,964
£15,026
19,237
-
2,642
£21,879
11,143
1,500
£12,643
£10,297
£450
£180		 2020
£204,964		 2020
£10,982
25,076
-
3,241
£28,317
11,058
1,440
£12,498
£9,031
£450
£180

The Trustees of William Botley Charity and Salisbury City Educational and Apprenticing Charity are all comprised of Trustees of Salisbury City Almshouse and Welfare Charities.

The Charities are not required by statute to prepare group accounts, except in as much as these accounts include those of the subsidiary charities which are shown as restricted funds. The Charities have no parent undertaking.

In common with many other businesses of our size and nature we use our auditors to assist with the preparation of the financial statements and some tax compliance.

20

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021 (CONTINUED)

8. FIXED ASSETS

a. Housing Properties

General
Cost
At 1 January 2021
6,907,445
Additions
573,451
Transfer
79,896
At 31 December 2021
7,560,792
Depreciation
At 1 January 2021
2,630,289
Charge for the year
137,098
At 31 December 2021
2,767,387
Net book value
At 31 December 2021
£4,793,405
At 1 January 2021
£4,277,156		 Mrs Sarah
Hayter's
Charity
957,000
-
957,000
382,793
19,140
401,933
£555,067
£574,207		 Buchanan
Housing
Charity
1,971,329
-
1,971,329
473,993
39,427
513,420
£1,457,909
£1,497,336		 St Mary
Magdalen's
Hospital
540,192
54,171
(79,896)
514,467
25,200
8,400
33,600
£480,867
£514,992		 Total
10,375,966
627,622
-
11,003,588
3,512,275
204,065
3,716,340
£7,287,248
£6,863,691

These properties consisted of the following categories of accommodation:

31 December 2021
Sheltered housing
Wardens' houses
General needs housing:
In use
Under construction/renovation
31 December 2020
Sheltered housing
Wardens' houses
General needs housing		 178
5
-
5
188
178
6
-
184		 11
-
-
-
11
11
-
-
11		 -
-
24
-
24
-
-
24
24		 -
-
-
6
6
-
-
6
6		 189
5
-
24
11
229
189
6
30
225

All housing properties are held freehold, except for certain properties held by the Buchanan Housing Charity on very long leases (more than 500 years remaining). The net book value of these leasehold properties at 31 December 2021 was £279,560 (2020: £289,200) and the depreciation charged on them during the year was £9,640 (2020: £9,640).

b. Offices - Freehold Land and Buildings

Cost
At 1 January 2021 and 31 December 2021
Depreciation
At 1 January 2021
Charge for the year
At 31 December 2021
Net book value
At 31 December 2021
At 1 January 2021		 Total
44,960
18,883
899
19,782
£25,178
£26,077

21

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021 (CONTINUED)

8. FIXED ASSETS (CONTINUED)

c. Investment Properties - Freehold Land and Buildings

Investment Properties - Freehold Land and Buildings
Valuation as at 1 January 2021
Unrealised gains/(losses) on revaluation
Valuation as at 31 December 2021		 Three
Shops
855,000
(15,000)
£840,000		 Two
Houses
545,000
105,000
£650,000		 Total
1,400,000
90,000
£1,490,000

These properties were valued as at 31 December 2021 and 31 December 2020 by Messrs Woolley & Wallis, Chartered Surveyors, on the basis of open market value. Their historic costs are not known. The valuers are considered to be independent of the Charities.

d. Fixed Asset Investments

Blechynden
General
and Brown
Endowment
Almshouse
Fund
Charity
Market value at 1 January 2021
5,183,304
9,442
Additions
669,999
-
Disposals
(633,244)
-
Investment income accumulated
174
-
Investment management fees
(11,679)
-
Unrealised gains/(losses) on revaluation
612,745
1,345
Market value at 31 December 2021
£5,821,299
£10,787
Historic cost:
At 31 December 2021
£4,047,760
£6,198
At 31 December 2020
£3,858,395
£6,198
The market value at 31 December 2021 was made up as follows:
Charitable common investment funds
2,276,357
10,787
Listed investments:
UK fixed interest
208,847
-
UK equities
3,306,601
-
Cash
29,460
-
£5,821,265
£10,787
9.
ENDOWMENTS RECOUPED
Blechynden
Investments held in Charitable
and Brown
Common Investment Funds
Almshouse
Charity
Market value at 1 January 2021
23,512
Capital recouped (Note 17)
70
Unrealised gains/(losses) on revaluation
4,115
Market value at 31 December 2021
£27,697
Historic cost:
At 31 December 2021
£12,523
At 31 December 2020
£12,453		 Mrs Sarah
Hayter's
Charity
2,758
-
-
-
-
393
£3,151
£1,622
£1,622
3,151
-
-
-
£3,151
Mrs Sarah
Hayter's
Charity
62,194
1,200
10,948
£74,342
£25,369
£24,169		 Total
5,195,504
669,999
(633,244)
174
(11,679)
614,483
£5,835,237
£4,055,580
£3,866,215
2,290,295
208,847
3,306,601
29,460
£5,835,203
Total
85,706
1,270
15,063
£102,039
£37,892
£36,622

22

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021

(CONTINUED)

10. OTHER FIXED ASSETS Equipment, Furniture, Fixtures and Fittings

OTHER FIXED ASSETS
Equipment, Furniture, Fixtures and Fittings
Cost
As at 1 January 2021
Additions
Disposals
As at 31 December 2021
Depreciation
As at 1 January 2021
Charge for the year
Disposals
As at 31 December 2021
Net Book Value
At 31 December 2021
At 1 January 2021		 Almshouses
193,541
33,556
-
227,097
170,124
10,854
-
180,978
£46,119
£23,417		 Offices
58,643
-
-
58,643
44,012
4,172
-
48,184
£10,459
£14,631		 Total
252,184
33,556
-
285,740
214,136
15,026
-
229,162
£56,578
£38,048

It is estimated that the office equipment is used 50% for the support of direct charitable work and 50% for the management and administration of the Charities.

11. DEBTORS
Residents' contributions in arrears
Other debtors
Prepayments		 2021
4,456
6,062
37,893
£48,411		 2020
4,134
5,462
37,668		 2020
£47,264

12. CURRENT ASSET INVESTMENTS

Buchanan
Housing
Charity
Market value at 1 January 2021
370,442
Additions
75,212
Disposals
-
Income accumulated
-
Investment management fees
-
Other movement in cash
-
Unrealised gains/(losses)
71,723
Market value at 31 December 2021
£517,377
Historic cost:
At 31 December 2021
£247,133
At 31 December 2020
£171,920
The market value at 31 December 2021 was made up
Common Investment Funds
517,377
Listed investments:
Equities
-
Fixed interest
Cash
-
£517,377		 St Mary
Magdalen's
Hospital
590,749
-
-
-
-
-
89,266
£680,015
£488,312
£488,312
as follows:
680,015
-
£680,015		 General
Extraordinary
Unrestricted
Repair
Fund
Fund
4,705,214
1,774,271
428,731
-
(787,689)
-
2,153
58,419
(8,810)
-
2,732
-
534,893
175,319
£4,877,224
£2,008,009
£4,181,895
£1,464,197
£4,477,858
£1,405,776
2,563,306
2,008,009
1,792,205
474,746
46,967
-
£4,877,224
£2,008,009		 Total
7,440,676
503,943
(787,689)
60,572
(8,810)
2,732
871,201
£8,082,625
£6,381,537
£6,543,866
5,768,707
1,792,205
474,746
46,967
£8,082,625

23

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021 (CONTINUED)

13. CREDITORS: Amounts falling due within one year

Housing loans
Residents' contributions received in advance
Rents received in advance
Other creditors
Deferred income - Government grants
Accruals		 2021
1,289
3,437
1,140
97,940
67,291
45,068
£216,165		 2020
1,162
4,605
16,670
80,811
67,291
109,238		 2020
£279,777

14. CREDITORS: Amounts falling due after more than one year

CREDITORS: Amounts falling due after more than one year
Housing loans for:
Gloucester House (interest rate 11.375%)
Trinity Hospital (interest rate 9.5%)
Deferred income - Government grants		 2021
75,135
65,627
1,890,494
£2,031,256		 2020
75,885
66,166
1,957,785		 2020
£2,099,836

The loans are secured on the respective developments and have fixed rates of interest. They are repayable, by half-yearly instalments, over 60 years until 2044 (Gloucester House) and 2049 (Trinity Hospital).

The total amount repayable after more than five years was
Deferred income
Brought forward at 1 January 2021
Released in the year
Deferred in the year
Carried forward at 31 December 2021
15. PROVISIONS FOR LIABILITIES AND CHARGES
Brought forward pension liability at 1 January 2021
Unwinding of the discount factor
Deficit contribution paid
Impact of change in assumption and contribution schedule
Carried forward pension liability at 31 December 2021		 £134,045
2021
2,025,075
(67,291)
-
£1,957,784
2021
26,376
63
(6,203)
(13,479)
£6,757		 £137,750 £137,750
2020
2,092,366
(67,291)
-		 2020
£2,025,075
2020
31,625
320
(6,023)
454		 2020
£26,376

As mentioned in Note 6d, the Charities pension scheme is accounted for as a defined contribution scheme but a provision has been included for the past service element payable with the aim of eliminating the deficit on the scheme. The amount recognised is the present value of contributions payable that result from the terms of the agreement.

Income and expenditure impact
Unwinding of the discount factor
Impact of change in assumption and contribution schedule
Assumptions
Rate of discount		 2021
63
(13,479)
(£13,416)
2021
1.18%		 2020
320
454
£774
2020
0.27%		 2020

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

24

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021

(CONTINUED)

16.1 ENDOWED CAPITAL - 2021
Balance as at 1 January 2021
Transfer of assets
Depreciation of buildings
Investment management fees
Investment income accumulated
Realised gains on disposal
of investments
Unrealised gains on revaluation
of investment properties
Unrealised gains on investments
Balance as at 31 December 2021
16.2
ENDOWED CAPITAL - 2020
Balance as at 1 January 2020
Transfer of assets
Depreciation of buildings
Investment management fees
Investment income accumulated
Realised loss on disposal
of investments
Unrealised losses on revaluation
of investment properties
Unrealised losses on investments
Balance as at 31 December 2020		 Blechynden
General
and Brown
Endowment
Almshouse
Fund
Charity
6,802,750
9,442
-
-
(7,588)
-
(11,679)
-
174
-
36,755
-
90,000
-
612,747
1,345
£7,523,159
£10,787
Blechynden
General
and Brown
Endowment
Almshouse
Fund
Charity
7,080,163
8,872
-
-
(7,589)
-
(9,152)
-
526
-
(1,737)
-
(180,000)
-
(79,461)
570
£6,802,750
£9,442		 Mrs Sarah
St Mary
Hayter's Magdalen's
Charity
Hospital
38,757
394,800
-
-
(1,200)
(8,400)
-
-
-
-
-
-
-
-
393
-
£37,950
£386,400
Mrs Sarah
St Mary
Hayter's
Magdalen's
Charity
Hospital
39,791
403,200
-
-
(1,200)
(8,400)
-
-
-
-
-
-
-
-
166
-
£38,757
£394,800		 2021
Total
7,245,749
-
(17,188)
(11,679)
174
36,755
90,000
614,485
£7,958,296
2020
Total
7,532,026
-
(17,189)
(9,152)
526
(1,737)
(180,000)
(78,725)
£7,245,749

17. ENDOWED CAPITAL TO BE RECOUPED

The Charity Commissioners ordered that sums expended on the reconstruction of Blechynden's and Mrs Sarah Hayter's Almshouses should be recouped from income to capital. Two recoupment orders are now in force:

are now in force:
(i)
On 5 March 1980, for £70 per year for 60 years to 2040, to generate
(ii) On 1 June 2000, for £1,200 per year for 50 years to 2050, to generate
Capital recouped is held in Charitable Common Investment Funds (Note 9).		 20,037
60,000
£80,037

25

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021

(CONTINUED)

18.1 RESTRICTED FUNDS - 2021

SCAWC
Mrs Sarah
Buchanan
St Mary
Almshouse
Hayter's
Housing
Magdalen's
Charities
Charity
Charity
Hospital
(Note 18.3a) (Note 18.3b) (Note 18.3c)
Contributions from residents
274,498
73,840
141,194
-
Investment income
45,833
2,815
9,588
12,864
Other income
-
1,427
-
-
Legacies and donations
-
-
-
-
Expenditure
(92,336)
(61,458)
(83,598)
-
Net income
227,995
16,624
67,184
12,864
Realised gains on investments
-
-
-
-
Unrealised gains on investments
137,207
8,169
100,420
90,512
Net movement in funds before tran
365,202
24,793
167,604
103,376
Transfer from unrestricted funds
40,060
-
-
-
Endowed capital recouped
-
(1,200)
-
-
Balance at1 January 2021
2,293,510
399,675
2,421,910
919,977
Balance at 31 December 2021
£2,698,772
£423,268
£2,589,514
£1,023,353
The fund balances include the following unrealised gains/(losses):
As at 31 December 2021
£137,207
£8,169
£100,420
£90,512
As at 1 January 2021
(£101,431)
(£6,039)
£11,139
£38,677		 2021
Total
489,532
71,100
1,427
-
(237,392)
324,667
-
336,308
660,975
40,060
(1,200)
6,035,072
£6,734,907
£336,308
(£57,654)

The transfer to restricted funds consists of additional contributions to the extraordinary repair fund of £40,060 (2020: £41,110) reflecting expenditure on boilers and environmental energy schemes.

18.2 RESTRICTED FUNDS - 2020

SCAWC
Almshouse
Charities
(Note 18.4a)
Contributions from residents
268,548
Investment income
57,986
Other income
-
Legacies and donations
-
Expenditure
(227,835)
Net income
98,699
Realised gains on investments
-
Unrealised gains on investments
(101,431)
Net movement in funds before transfer
(2,732)
Transfer from unrestricted funds
41,110
Endowed capital recouped
-
Balance at 1 January 2020
2,255,132
Balance at 31 December 2020
£2,293,510		 Mrs Sarah
Hayter's
Charity
(Note 18.4b)
71,265
3,624
1,351
-
(72,452)
3,788
-
(6,039)
(2,251)
-
(1,200)
403,126
£399,675		 Buchanan
Housing
Charity
(Note 18.4c)
135,415
12,175
-
-
(99,618)
47,972
-
11,139
59,111
-
-
2,362,799
£2,421,910		 St Mary
Magdalen's
Hospital
2,306
13,494
-
-
(3,120)
12,680
-
38,677
51,357
-
-
868,620
£919,977		 2020
Total
477,534
87,279
1,351
-
(403,025)
163,139
-
(57,654)
105,485
41,110
(1,200)
5,889,677
£6,035,072

26

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021

(CONTINUED)

18.3 RESTRICTED FUNDS (continued)

a. SCAWC Almshouse Charities - 2021

Contributions from residents
Investment income accumulated
Legacies and donations
Expenditure
Net income
Transfer from Unrestricted Funds
Unrealised gains/(losses) on investments
Net movement in funds
Balance at 1 January 2021
Balance at 31 December 2021		 Specific
Cyclical
Extraordinary
Almshouse
Maintenance
Repair
Funds
Fund
Fund
-
169,624
104,874
-
55
45,778
-
-
-
-
(52,415)
(39,921)
-
117,264
110,731
-
-
40,060
-
-
137,207
-
117,264
287,998
6,655
416,310
1,870,545
£6,655
£533,574
£2,158,543		 Total
274,498
45,833
-
(92,336)
227,995
40,060
137,207
405,262
2,293,510
£2,698,772
Contributions from residents
Investment income
Other income
Expenditure
Net income
Unrealised gains on investments
Endowed capital recouped
Loan from SCAWC repaid
Net movement in funds
Balance at 1 January 2021
Balance at 31 December 2021
c.
Buchanan Housing Charity
Contributions from residents
Investment income
Expenditure
Net income
Realised gains on investments
Unrealised gains on investments
Additions of housing property
Net movement in funds
Balance at 1 January 2021
Balance at 31 December 2021		 Cyclical
Extraordinary
General
Maintenance
Repair
Fund
Fund
Fund
50,981
15,992
6,867
81
6
2,728
1,427
-
-
(43,475)
(790)
747
9,014
15,208
10,342
-
-
8,169
(1,200)
-
-
(12,000)
-
-
(4,186)
15,208
18,511
51,047
47,764
129,952
£46,861
£62,972
£148,463
- 2021
Cyclical
Extraordinary
General
Maintenance
Repair
Fund
Fund
Fund
109,149
19,471
12,574
5
14
9,569
(29,594)
(12,198)
(2,380)
79,560
7,287
19,763
-
-
-
71,723
-
28,697
-
-
-
151,283
7,287
48,460
484,631
104,805
335,137
£635,914
£112,092
£383,597		 Property
Fund
-
-
-
(17,940)
(17,940)
-
-
12,000
(5,940)
170,912
£164,972
Property
Fund
-
-
(39,426)
(39,426)
-
-
-
(39,426)
1,497,337
£1,457,911		 Total
73,840
2,815
1,427
(61,458)
16,624
8,169
(1,200)
-
23,593
399,675
£423,268
Total
141,194
9,588
(83,598)
67,184
-
100,420
-
167,604
2,421,910
£2,589,514

27

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021 (CONTINUED)

18.4 RESTRICTED FUNDS (continued)

a. SCAWC Almshouse Charities - 2020

Specific
Cyclical
Almshouse
Maintenance
Funds
Fund
Contributions from residents
-
165,325
Investment income accumulated
-
1,098
Legacies and donations
-
-
Expenditure
(2,926)
(141,347)
Net income
(2,926)
25,076
Transfer from Unrestricted Funds
-
-
Unrealised gains/(losses) on investments
-
-
Net movement in funds
(2,926)
25,076
Balance at 1 January 2020
9,581
391,234
Balance at 31 December 2020
£6,655
£416,310
b.
Mrs Sarah Hayter's Charity - 2020
Cyclical
Extraordinary
General
Maintenance
Repair
Fund
Fund
Fund
Contributions from residents
49,049
15,587
6,629
Investment income
79
105
3,440
Other income
1,351
-
-
Expenditure
(44,197)
(6,664)
(3,651)
Net income
6,282
9,028
6,418
Unrealised gains on investments
-
-
(6,039)
Endowed capital recouped
(1,200)
-
-
Loan from SCAWC repaid
(12,000)
-
-
Net movement in funds
(6,918)
9,028
379
Balance at 1 January 2020
57,965
38,736
129,573
Balance at 31 December 2020
£51,047
£47,764
£129,952
c.
Buchanan Housing Charity - 2020
Cyclical
Extraordinary
General
Maintenance
Repair
Fund
Fund
Fund
Contributions from residents
105,375
18,393
11,647
Investment income
102
303
11,770
Expenditure
(30,163)
(25,757)
(4,272)
Net income
75,314
(7,061)
19,145
Realised gains on investments
-
-
-
Unrealised gains on investments
32,353
-
(21,214)
Additions of housing property
-
-
-
Net movement in funds
107,667
(7,061)
(2,069)
Balance at 1 January 2020
376,964
111,866
337,206
Balance at 31 December 2020
£484,631
£104,805
£335,137		 Extraordinary
Repair
Fund
103,223
56,888
-
(83,562)
76,549
41,110
(101,431)
16,228
1,854,317
£1,870,545
Property
Fund
-
-
-
(17,940)
(17,940)
-
-
12,000
(5,940)
176,852
£170,912
Property
Fund
-
-
(39,426)
(39,426)
-
-
-
(39,426)
1,536,763
£1,497,337		 Total
268,548
57,986
-
(227,835)
98,699
41,110
(101,431)
38,378
2,255,132
£2,293,510
Total
71,265
3,624
1,351
(72,452)
3,788
(6,039)
(1,200)
-
(3,451)
403,126
£399,675
Total
135,415
12,175
(99,618)
47,972
-
11,139
-
59,111
2,362,799
£2,421,910

28

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021

(CONTINUED)

19.1 UNRESTRICTED FUNDS - 2021

Surplus on unrestricted funds
Income credited to designated funds
Expenditure charged to designated funds
Almshouse improvements
Depreciation of almshouses
Almshouse developments
Recoupment of boilers and capital
Repayment of housing loans
Repayment of loan to Sarah Hayter's Charity
Appropriation of surplus/(deficit)
Realised gains/(losses) on investments
Unrealised gains/(losses) on investments
Pension scheme gains
Pension transfer
Net movement in funds
Balance at 1 January 2021
Balance at 31 December 2021		 Almshouse
Development
Internal
and
Property
Improvement
Fund
Fund
-
-
22,441
-
-
(63,118)
-
653,347
(653,347)
-
-
1,162
-
(12,000)
12,000
-
(70,491)
-
61,675
-
534,893
(6,203)
579,391
(99,032)
2,283,260
4,804,720
£2,862,651
£4,705,688		 General
Fund
(69,876)
(22,441)
-
63,118
-
(40,130)
(1,162)
-
70,491
-
-
13,416
6,203
19,619
333,624
£353,243		 Total
(69,876)
-
-
-
-
(40,130)
-
-
-
61,675
534,893
13,416
-
499,978
7,421,604
£7,921,582

19.2 UNRESTRICTED FUNDS - 2020

Surplus on unrestricted funds
Income credited to designated funds
Expenditure charged to designated funds
Almshouse improvements
Depreciation of almshouses
Almshouse developments
Recoupment of boilers
Repayment of housing loans
Repayment of loan to Sarah Hayter's Charity
Appropriation of surplus
Realised gains/(losses) on investments
Unrealised gains/(losses) on investments
Pension scheme gains
Pension deficit transfer
Net movement in funds
Balance at 1 January 2020
Balance at 31 December 2020		 Internal
Property
Fund
-
-
(63,117)
43,278
-
1,048
(12,000)
-
-
-
(30,791)
2,314,051
£2,283,260		 Almshouse
Development
and
Improvement
Fund
-
23,215
-
-
(43,278)
-
-
12,000
36,390
(32,504)
322,848
-
(6,023)
312,648
4,492,072
£4,804,720		 General
Fund
37,942
(23,215)
-
63,117
-
(41,180)
(1,048)
-
(36,390)
-
-
-
6,023
5,249
328,375
£333,624		 Total
37,942
-
-
-
(41,180)
-
-
-
(32,504)
322,848
-
-
287,106
7,134,498
£7,421,604

29

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021 (CONTINUED)

20.1 ANALYSIS OF NET ASSETS BETWEEN FUNDS - 2021

Fixed Assets
Almshouses
Offices
Investment properties
Investments
E F F & F
Current asset investments
Other current assets
Current liabilities
Long term liabilities
Loan to Mrs Sarah Hayter's Charity
Provisions		 Unrestricted
Funds
3,938,873
24,921
-
-
56,578
4,020,372
4,877,224
922,869
(216,165)
(2,031,256)
355,295
(6,757)
£7,921,582		 Restricted
Funds
2,716,038
-
-
-
-
2,716,038
3,205,401
1,168,763
-
-
(355,295)
-
£6,734,907		 Endowment
Funds
632,337
257
1,490,000
5,937,276
-
8,059,870
-
465
-
-
-
-
£8,060,335		 Total
7,287,248
25,178
1,490,000
5,937,276
56,578
14,796,280
8,082,625
2,092,097
(216,165)
(2,031,256)
-
(6,757)
£22,716,824

The loan to Mrs Sarah Hayter's Charity was provided from the Unrestricted Funds of the Salisbury City Almshouse and Welfare Charities to enable the almshouses owned by Mrs Sarah Hayter's Charity to be rebuilt. It is interest-free and is being repaid out of the income of Mrs Sarah Hayter's Charity.

20.2 ANALYSIS OF NET ASSETS BETWEEN FUNDS - 2020

Fixed Assets
Almshouses
Offices
Investment properties
Investments
E F F & F
Current asset investments
Other current assets
Current liabilities
Long term liabilities
Loan to Mrs Sarah Hayter's Charity
Provisions
21.
CAPITAL COMMITMENTS
As at Balance Sheet date the Charities had		 Unrestricted
Restricted
Funds
Funds
4,058,441
2,155,736
25,810
-
-
-
-
-
38,048
-
4,122,299
2,155,736
4,705,214
2,735,462
632,785
1,511,169
(279,777)
-
(2,099,836)
-
367,295
(367,295)
(26,376)
-
£7,421,604
£6,035,072
commitments as follows:		 Endowment
Funds
649,514
267
1,400,000
5,281,210
-
7,330,991
-
464
-
-
-
-
£7,331,455		 Total
6,863,691
26,077
1,400,000
5,281,210
38,048
13,609,026
7,440,676
2,144,418
(279,777)
(2,099,836)
-
(26,376)
£20,788,131
2021 2020
Contracted for but not provided in the accounts: £8,266 £566,666

30

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021

(CONTINUED)

22. COVID-19 PANDEMIC

The global COVID-19 pandemic which emerged during 2020, continued to affect the Charities throughout this financial year. During the year the Government introduced further measures to slow the spread of the virus. These included further national lockdowns and additional restrictions on social mixing.

The Charities remained open and continued to operate observing a Covid-secure environment. Following the lifting of legal restrictions the Charities continue to be mindful of the need to protect their residents from the potential effects of the virus.

The effects of the pandemic do not result in any adjustment being made to the value of assets and liabilities at the balance sheet date. The Trustees are confident that the Charities will continue and will be able to overcome the difficulties affecting their activities and as a consequence these accounts have been prepared on the going concern basis.

31

SALISBURY CITY ALMSHOUSE AND WELFARE CHARITIES NOTES TO THE ACCOUNTS AT 31 DECEMBER 2021 (CONTINUED)

23. PRIOR YEAR STATEMENT OF FINANCIAL ACTIVITIES

Note
INCOME FROM
Charitable Activities
Turnover
Residents' contributions
2
Housing Related Support
2
Government grant income
2
Surplus on disposal
Donations and legacies
Investments
3
Other income
Total income
EXPENDITURE ON
Raising Funds
Investment costs
4
Charitable Activities
Almshouse operating costs
2
Almshouse management
2
Interest
5
Welfare grants
7
Total expenditure
Net income/(expenditure) before gains
OTHER GAINS AND LOSSES
Realised gains/(losses) on disposal:
Investments
Unrealised gains/(losses) on revaluation:
Investments
Investment properties
Pension scheme liability
Net income/expenditure
Transfers between funds
18
Net movement in funds
Fund balances at 1 January 2020
Fund balances at 31 December 2020		 Unrestricted
Funds
867,915
68,775
67,291
1,003,981
-
1,835
235,237
20,281
1,261,334
19,058
880,854
280,038
15,125
1,176,017
28,317
1,204,334
1,223,392
37,942
(32,504)
322,848
-
-
328,286
(41,180)
287,106
7,134,498
£7,421,604		 Restricted
Funds
474,319
3,215
-
477,534
-
-
87,279
1,351
566,164
-
360,294
42,731
-
403,025
-
403,025
403,025
163,139
-
(57,654)
-
-
105,485
39,910
145,395
5,889,677
£6,035,072		 Endowment
Funds
-
-
-
-
-
-
526
-
526
9,152
17,189
-
-
17,189
-
17,189
26,341
(25,815)
(1,737)
(71,080)
(180,000)
-
(278,632)
1,270
(277,362)
7,608,817
£7,331,455		 Total
2020
1,342,234
71,990
67,291
1,481,515
-
1,835
323,042
21,632
1,828,024
28,210
1,258,337
322,769
15,125
1,596,231
28,317
1,624,548
1,652,758
175,266
(34,241)
194,114
(180,000)
-
155,139
-
155,139
20,632,992
£20,788,131

32