The Charity called The Almshouse of St John the Baptist and St John the Evangelist
in the Parish of Sherborne, in the County of Dorset
## UNAUDITED FINANCIAL STATEMENTS
for the year ended
31 December 2023
Charity No.202499 Regulator of Social Housing No.A2569
The Almshouse of St John the Baptist and St John the Evangelist, Sherborne LEGAL AND ADMINISTRATIVE DETAILS
## GOVERNING DOCUMENTS
The charity is governed by the following documents:
William Dodill’s Charter of 1406 Trust deed of 1418 Royal Charter of Henry VI of 1437 Scheme of 15 September 1953
## TRUSTEES
The following persons are the Trustees and called the Master and Brethren, viz:
Michael John Anthony Davies, of Sturminster Newton, farmer Ian Robert Elliott, of Sherborne, gentleman (to 8 March 2023) Timothy Maurice Cobden Higham Bartley, of Sherborne, chartered engineer Laurence John Burke, of Milborne Port, retired medical practitioner Michael David Burks, of Sherborne, horticulturalist Karen Elizabeth Fisher, of Sherborne, Matron Richard Hunt, of Sherborne, Businessman Lucy Robins, of Salisbury Paul Wiggall, of Sherborne, Psychotherapist (to 20 March 2023) Reverend Martin Lee, of Sherborne, Rector of Sherborne (to 19 January 2024) Paul Jacobs, of Sherborne (from 1 January 2023) Steven James Lusher, of Sherborne, Chief Operating Officer (from 23 November 2023) Ian David Macfarlane, of Charlton Horethorne, Investment banker (from 23 November 2023)
## MASTER
Lucy Robins (to 11 January 2024) Richard Hunt (from 11 January 2024)
## STEWARD
Rosalind Heron (to 30 June 2023)
DIRECTOR
Fritha Aelise Cassels Costain (from 9 May 2023)
CHARITY REGISTRATION NUMBER
202499
REGULATOR OF SOCIAL HOUSING REGISTERED NUMBER
A2569
_Page 1_
The Almshouse of St John the Baptist and St John the Evangelist, Sherborne LEGAL AND ADMINISTRATIVE DETAILS
## REGISTERED OFFICE
St Johns’ House Half Moon Street Sherborne Dorset DT9 3LJ
SOLICITORS
Stone King Upper Borough Walls Bath BA1 2HJ
Kitson & Trotman The Champions Beaminster Dorset DT8 3AN
## INDEPENDENT EXAMINER
Robert Cadwallader Milsted Langdon LLP Chartered Accountants Motivo House Alvington Yeovil Somerset BA20 2FG
BANKERS
Barclays Bank Plc King George Street Yeovil Somerset BA20 1PX
_Page 2_
The Almshouse of St John the Baptist and St John the Evangelist, Sherborne REPORT OF THE TRUSTEES
The trustees present their report and unaudited financial statements of the Almshouse for the year ended 31 December 2023.
## OBJECTIVES AND ACTIVITIES
The Almshouse is registered as a charitable housing association and it is registered with the Regulator of Social Housing (R. S. H No. A2569) and the Charity Commission (Charity No. 00202499).
After paying the cost of repairs and insurance and all other charges and outgoings relating to their property, and all the property costs, charges and expenses of and incidentals to the administration and management of The Almshouse of St John the Baptist and St John the Evangelist, the Master and Brethren are required by the scheme established by the Charity Commission on 15 September 1953 to apply the remainder of their income in providing food, clothing and other necessaries for the residents of the Almshouse and in providing for their welfare and comfort in health and sickness in such way as the Master and Brethren think fit from time to time.
The trustees confirm that they have complied their duties to have due regard to the guidance on public benefit published by the Charity Commission (on their website at Charities and Public Benefit) in exercising their powers and duties.
This guidance has directly influenced the setting of objectives and outcomes. In particular, the trustees have considered how planned activities will contribute to set objectives.
## REVIEW OF FINANCIAL PERFORMANCE
Turnover in the year from rent and contributions received was £173,882 (2022 - £333,302). The actual deficit for the year was £306,075 (2022 - £113,685), the realised loss on investments was £1,370 (2022 - £22,217 loss) and the unrealised gain on investments was £4,386 (2022 - £85,148 loss). The net assets at the end of the year are £1,924,780 (2022 - £2,226,469).
Due to the closure of the Almshouse in June the income received reduced dramatically. Costs remained high because the Trustees guaranteed to employ all staff until the end of June and had to pay redundancy. Insurance was very high due to an empty building. Professional fees were very high due to the extensive advice taken. Repairs and improvements have also been very high as it was the correct time to invest in the structure of the Almshouse and Commercial buildings.
The charity has managed to cut its costs in 2024 and the Trustees are confident that last year was a transition year and is looking forward to an improved financial performance.
## GOVERNANCE AND MANAGEMENT
The Charity is governed by a Board of Trustees, The Brethren, who regularly meet, usually six times a year but more frequently during the year and for the foreseeable future because of the specific challenges which the Charity faces, to consider the affairs of the Charity and make decisions concerning its strategy. Issues which require more detailed input from the Brethren are usually first considered by the Master’s Standing Committee which meets more frequently, usually once a month.
The day-to-day operations of the Charity are managed by the Steward or Director, with guidance from the Master.
_Page 3_
The Almshouse of St John the Baptist and St John the Evangelist, Sherborne REPORT OF THE TRUSTEES
## BRETHREN
A list of the current trustees is set out on page 1.
## REVIEW OF ACTIVITIES AND FUTURE PLANS
The Trustees decided that the operating model of the Almshouse was no longer financially viable. If the operating model was not changed the charity would exhaust its savings in a few years.
The Trustees went through a consultation with the staff in January 2023. On completion of the consultation the Trustees concluded that the best option for ensuring the long-term sustainability of the charity was to create an Almshouse operation in which residents can live independently in fit-for-purpose flats. In order to reduce operating losses and protect funds, the Trustees concluded that the serviced provision ceased at the end of March 2023 and the staff whose roles provided these services were made redundant at the end of June 2023. Of the seven residents in occupation, two were capable of living independently, the others moved to alternative accommodation which could meet their needs. Two residents now live in a house adjacent to the Almshouse building.
The charity will still provide affordable accommodation to those in need but is no longer able to provide a service provision for those unable to live independently.
The Trustees are looking at all alternatives to fill their charitable obligation, they have taken advice from many different sources and have looked at the risks involved. They are talking with the Almshouse Association and other professional bodies to help them make the correct decision.
## RESERVES POLICY
The Trustees reviewed the policy at the start of the year and have £100,000 of easily accessible funds. The Trustees are considering options to increase this reserve fund going forward.
At 31 December 2023 the capital and endowment reserve was unchanged from 2022 at £78,552 respectively. The revaluation reserve was unchanged at £1,614,999. The income and expenditure reserve had decreased to £231,228 at 31 December 2023 (2022: £532,906) and the Amenity Fund had a balance of £nil at 31 December 2023 (2022: £11).
## INVESTMENT POLICY
The Trustees have a policy of mixed investment, comprising of two elements.
1. A few architectural important listed commercial buildings in Sherborne, which the Trustees have acquired over many years, and which are all subject to commercial lettings, managed by a professional agent and subject to regular rent reviews.
2. Cash deposits invested in banks, which is for use in cyclical repairs and is readily accessible.
_Page 4_
## The Almshouse of St John the Baptist and St John the Evangelist, Sherborne
REPORT OF THE TRUSTEES
## RISK ASSESSMENT
The Brethren regularly conduct reviews of the major risks to which the charity is exposed and systems have been established to mitigate those risks. Internal risks are minimised by the implementation of procedures of authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charity. These procedures are periodically reviewed in order to ensure that they still meet the needs of the charity.
On behalf of the Trustees
Mr R Hunt, Master (Chair of Trustees)
Date: 6 June 2024
_Page 5_
## The Almshouse of St John the Baptist and St John the Evangelist, Sherborne REPORT OF THE TRUSTEES
The Trustees are required to prepare accounts for each financial year which give a true and fair view of the state of affairs of The Almshouse of St John the Baptist and St John the Evangelist and of the surplus or deficit of The Almshouse of St John the Baptist and St John the Evangelist for that period. In preparing those accounts, the Trustees are required to:
- a. select suitable accounting policies and then apply them consistently;
- b. make judgements and estimates that are reasonable and prudent;
- c. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- d. prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the accounts comply with the requirements of the Charities Act 2011, the Housing and Regeneration Act 2008, and the Accounting Direction for Private Registered Providers of Social Housing 2022. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the Charity and financial information included in the Charity’s website in accordance with the legislation in the United Kingdom governing the preparation and dissemination of financial statements.
_Page 6_
## The Almshouse of St John the Baptist and St John the Evangelist, Sherborne
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE ALMSHOUSE OF ST JOHN THE BAPTIST AND ST JOHN THE EVANGELIST, SHERBORNE
I report on the accounts of the Almshouse of St John the Baptist and St John the Evangelist for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the trustees of the Charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). The trustees consider that an audit is not required for the year specified in section 136(6) to the Housing and Regeneration Act 2008 and that an independent examination is needed.
Having satisfied myself that the registered social landlord is not subject to audit under housing law and is eligible for independent examination I report in respect of my examination of the Charity’s accounts carried out under Section 145 of the 2011 Act and under paragraph 18 of Schedule 1 of the Housing Act 1996. By carrying out my examination I have followed all the applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect;
- Accounting records were not kept in respect of the charity as required by Section 130 of the Act nor in accordance with section 135(2)(b) of the Housing and Regeneration Act 2008; or
- The accounts do not accord with those records; or
- The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of the examination.
- The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Rob Cadwallader Milsted Langdon LLP Chartered Accountants Motivo House Alvington Yeovil Somerset BA20 2FG
Date: 14 June 2024
_Page 7_
## The Almshouse of St John the Baptist and St John the Evangelist, Sherborne
## UNAUDITED STATEMENT OF COMPREHENSIVE INCOME (INCORPORATING AN UNAUDITED INCOME STATEMENT) for the year ended 31 December 2023
|||2023|2022|
|---|---|---|---|
||_Notes_|£|£|
|Turnover||||
|Rent and contributions receivable|1|173,882|333,302|
|Operating costs|1|(482,341)|(429,887)|
|Operating deficit||(308,459)|(96,585)|
|Donations and legacies|1|781|1,238|
|Finance and investment income|2|5,699|10,174|
|Investment management costs|4|(2,726)|(6,295)|
|Realised loss from investments||(1,370)
|(22,217)
|
|Deficit for the year|1|(306,075)|(113,685)|
|Unrealised gains/(losses) from investments|12|4,386|(85,148)|
|Total loss recognised in the year||(301,689)
_______|(198,833)
_______|
The financial statements were approved on behalf of the Trustees and authorised for issue on 6 June 2024 and signed on their behalf by:-
Mr R Hunt - Master
Mr M D Burks - Trustee
_Page 8_
## The Almshouse of St John the Baptist and St John the Evangelist, Sherborne BALANCE SHEET As at 31 December 2023
|_Notes_
FIXED ASSETS
Tangible assets
Housing properties plant and equipment
Investment properties
3
INVESTMENTS
4
CURRENT ASSETS
Stocks
Debtors
5
Cash at bank and in hand
6
CREDITORS: Amounts falling due within one year
7
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS: Amounts falling due after one year
8
FINANCED BY:
HOUSING PROPERTY FINANCE
9
EQUITY
Capital and endowment reserves
Income and expenditure reserve
Amenity fund
12
12
Revaluation reserve
13|2023
£
270,859
1,615,000
1,885,859
5,177
-
78,763
133,390
212,153
(36,960)
175,193
2,066,229
(141,449)
1,924,780
1
78,552
231,228
-
1,614,999
1,924,780|2022
£
248,583
1,615,000
1,863,583
426,964
1,500
20,565
101,224
123,289
(39,040)
84,249
2,374,796
(148,327)
2,226,469
1
78,552
532,906
11
1,614,999
2,226,469|
|---|---|---|
_Page 9_
## The Almshouse of St John the Baptist and St John the Evangelist, Sherborne
## BALANCE SHEET As at 31 December 2023
The trustees are satisfied that the Charity is entitled to exemption from the provisions of the Housing Act 1996 (the Act) relating to the audit of the financial statements for the year by virtue of paragraph 18 (4A) of Schedule 1 of the Act.
- The trustees acknowledge their responsibilities for:
- (i) ensuring that the Charity keeps proper accounting records under paragraph 18 (2) of Schedule 1 of the Act, and
- (ii) preparing financial statements in accordance with the accounting records and comply with the requirements of paragraph 16 of Schedule 1 of the Act and the Accounting Direction for Private Registered Providers of Social Housing 2022
The financial statements were approved on behalf of the Trustees and authorised for issue on 6 June 2024 and signed on their behalf by: -
Mr R Hunt - Master
Mr M D Burks – Trustee
_Page 10_
## The Almshouse of St John the Baptist and St John the Evangelist, Sherborne CASH FLOW STATEMENT For the year ended 31 December 2023
|Notes
Cash flow from operating activities
15a
Cash flow from investing activities
15b
INCREASE/(DECREASE) IN CASH IN THE YEAR
RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN
NET FUNDS
Increase/(Decrease) in cash in year
Change in net debt resulting in cash flows
Non cash flow from decrease in net debt
MOVEMENT IN NET FUNDS IN THE YEAR
NET (DEBT) AT 1 JANUARY 2023
NET (DEBT) AT 31 DECEMBER 2023
15c||2023
£
(359,156)
391,322
32,166
32,166
32,166
6,878
39,044
(53,981)
(14,937)||2022
£
(84,469)
121,241|
|---|---|---|---|---|
|||||36,772
36,772
36,772
6,878
43,650
(97,631)
(53,981)|
||||||
||||||
||||||
||||||
_Page 11_
The Almshouse of St John the Baptist and St John the Evangelist, Sherborne ACCOUNTING POLICIES For the year ended 31 December 2023
## **Introduction and accounting basis**
The principal accounting policies of The Almshouse of St John the Baptist and St John the Evangelist are set out below. The financial statements of the Charity, which is a public entity under FRS 102, have been prepared under the historical cost convention, modified by the inclusion of investments and investment properties at market value, in accordance with the Accounting and Reporting by Charities: Statement of recommended Practice applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)), the Housing Statement of Recommended Practice 2018, the Accounting Direction for Private Registered Providers of Social Housing 2022 and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS 102.
## **Going concern**
The trustees assess whether the use of the going concern is appropriate i.e. whether there any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The trustees make this assessment in respect for a period of at least one year from the date of the authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity’s ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
## **Income recognition**
Rent receivable is credited in the income and expenditure account in the period to which it relates.
Income from legacies and donations are included as income when received or when the charity becomes entitled to the monies, if earlier, the receipt is probable and the amount can be measured reliably. Income from commercial letting of properties is stated net of Value Added Tax.
## **Designated funds**
Where monies are set aside by the trustees for specific purpose these are shown in the accounts as specifically designated funds.
## **Investments**
Monies held as investments are included in the accounts at market value. All gains and losses are taken to the Statement of Comprehensive Income as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Comprehensive Income.
_Page 12_
## The Almshouse of St John the Baptist and St John the Evangelist, Sherborne ACCOUNTING POLICIES For the year ended 31 December 2023
## **Stocks**
Stocks are stated at the lower of cost and net realisable value.
## **Mortgages**
The mortgage loan advanced by the Homes & Communities Agency has now been repaid bar £1.
## **Pension**
The Charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. Any annual contributions payable are charged to the profit and loss account.
## **Housing Association grants**
Under the Housing SORP 2018 this grant is classified as deferred income and is released to the income and expenditure account over the expected useful life of the asset on a straight line basis.
## **Revenue grants**
Grants in respect of revenue expenditure are recognised when the charity has an entitlement to the funds, any conditions linked to the grants have been met and the funds are received.
## **Fixed Assets – land and buildings**
Housing properties are stated at nominal valuation of £1 plus the cost of housing property renovations. Non housing properties are stated at an estimated valuation of £1,615,000. The Almshouse of St John the Baptist and St John the Evangelist and 2 Trendle Street are insured for £16,580,400 and other let properties are insured for £8,032,109. The Housing properties have been included at nominal valuations as they were originally gifted to The Almshouse of St John the Baptist and St John the Evangelist and therefore had no cost.
## **Depreciation**
The company depreciates housing properties on a straight line basis over their estimated useful economic life of 50 years.
Furniture and fittings are written off over the period of their expected useful lives at 20% on a reducing balance basis.
Items of a capital nature are charged to the income and expenditure account unless they result in an enhancement of economic benefits of the property or where they replace a component which has been treated separately for depreciation purposes.
_Page 13_
The Almshouse of St John the Baptist and St John the Evangelist, Sherborne ACCOUNTING POLICIES For the year ended 31 December 2023
## **Liabilities**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **Financial instruments**
The Charity only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the Charity and their measurement basis are as follows:
Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in note 5. Prepayments are not financial instruments.
Cash at bank – is classified as a basic financial instrument and is measured at face value.
Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in note 7. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
## **Taxation**
The Charity is exempt from taxation in respect of income or capital gains to the extent that such income or gains are applied exclusively to charitable purposes.
## **Irrecoverable VAT**
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
_Page 14_
## The Almshouse of St John the Baptist and St John the Evangelist, Sherborne NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
## 1 PARTICULARS OF TURNOVER AND OPERATING SURPLUS BY CLASS OF BUSINESS
|Income and expenditure from lettings
Housing accommodation
Other income and expenditure
Non housing property lettings
Finance and investment income
Donations and legacies
Investment management costs
Realised loss on investments
Deficit for the year on all funds
The operating deficit is stated after charging:
Depreciation – land and buildings
Depreciation – fixtures and fittings
Independent examiner’s fee
Independent examination fee
Other
2
FINANCE AND INVESTMENT INCOME
Deposit account interest
Dividends received|_Income_
£
50,433
123,449
173,882
5,699
781
-
-
180,362
306,075|_Operating_
_costs_
_2023_
_£_
402,016
80,325
482,341
-
-
2,726
1,370
486,437|_Income_
£
222,101
111,201
333,302
10,174
1,238
-
-
344,714
113,685
9,746
1,459
1,800
8,233
2023
£
343
5,356
5,699|_Operating_
_costs_
_2022_
_£_
407,024
22,863
429,887
-
-
6,295
22,217|
|---|---|---|---|---|
|||||458,399
9,077
1,823
1,600
2,706
2022
£
-
10,174|
|||||10,174|
_Page 15_
The Almshouse of St John the Baptist and St John the Evangelist, Sherborne NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
|3
FIXED ASSETS
_Property,_
_plant and_
_equipment_
_£_
_Investment_
_properties_
_£_
Cost or nominal valuation:
1 January 2023
478,846
1,615,000
Additions
33,481
-
31 December 2023
512,327
1,615,000
Depreciation:
1 January 2023
237,557
-
Charge for the year
9,746
-
31 December 2023
247,303
-
Net book value:
31 December 2023
265,024
1,615,000
31 December 2022
241,289
1,615,000|_Fixtures_
_and_
_fittings_
_£_
_Total_
_£_
74,747
2,168,593
-
33,481
74,747
2,202,074
67,453
305,010
1,459
11,205
68,912
316,215
5,835
1,885,859
7,294
1,863,583|
|---|---|
The investment properties were valued in 2019 by Nigel Jones of Chesters Commercial Limited. The Brethren do not believe that the value of the property is materially different as at 31 December 2023.
|Almshouse accommodation,
owned
- for older people, owned
Staff units|2023
No.
19
1
20|2022
No.
19
1
20|
|---|---|---|
From 1[st] April 2023, only 2 units were occupied.
_Page 16_
## The Almshouse of St John the Baptist and St John the Evangelist, Sherborne NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
|4||INVESTMENTS||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||_Transact_||_COIF_|_United_|||_Deposit_|||
||||_portfolio_||_Fund_|_Trust Bank_||
_accounts_|||_Total_|
|||||_£_|_£_||_£_||_£_||_£_|
|||Market value:||||||||||
|||1 January 2023||420,633|-|6,187|||144||426,964|
|||Disposals|(360,806)||-||-||-|(360,806)||
|||Cash withdrawal|(421,126)||-|(6,530)|||-|
(427,656)||
|||Cash proceeds||359,436|-||-||-||359,436|
|||Investment income||5,236|-|343|||-||5,579|
|||Management costs||(2,726)|-||-||-||(2,726)|
|||Net unrealised||-|4,386||-||-||4,386|
|||gain/(loss)||||||||||
|||on investments||||||||||
|||31 December 2023||647|4,386|-|||144||5,177|
|||31 December 2022||420,633|-|6,187|||144||426,964|
|||On a historical cost basis investments would be included at:||||||||||
|||31 December 2023||647|4,386|-|||144||5,177|
|||31 December 2022||505,781|-|5,285|||144||511,210|
||5|DEBTORS|||||2023|||2022||
|||||||||£|||£|
|||Trade debtors|||||10,167|||1,398||
|||Prepayments & accrued income|||||68,440||19,167|||
|||Other debtors||||||156||-||
||||||||78,763||20,565|||
||6|CASH AT BANK AND IN HAND|||||2023|||2022||
|||||||||£|||£|
|||Cash in hand||||||11|||11|
|||Bank – current account||||133,379|||101,202|||
|||Bank deposit accounts – Amenity fund||||||-|||11|
|||||||133,390|||101,224|||
_Page 17_
## The Almshouse of St John the Baptist and St John the Evangelist, Sherborne NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
|||2023|2022|
|---|---|---|---|
|||£|£|
|7|CREDITORS: Amounts due within one year|||
||Trade creditors|20,287|17,048|
||Taxation & social security|2,773|3,151|
||Accruals & deferred income|12,432|11,932|
||VAT liability|1,468|6,909|
|||36,960|39,040|
|||2023|2022|
|||£|£|
|8|CREDITORS: Amounts due after more than one year|||
||Accruals & deferred income: housing grant|141,449|148,327|
|9|LOANS|2023|2022|
|||£|£|
||Housing property finance|||
||Homes & Communities Agency|1|1|
|10|OPERATING COSTS FROM LETTINGS|_Operating_|_Operating_|
|||_costs_|_costs_|
|||2023|2022|
|||£|£|
||Housing accommodation (19 units – (2022: 19 units))|||
||Services|304,827|337,960|
||Management|66,733|48,504|
||Maintenance|30,456|20,560|
|||402,016|407,024|
||From 1stApril 2023, only 2 units were occupied.|||
_Page 18_
## The Almshouse of St John the Baptist and St John the Evangelist, Sherborne NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
## 11 TURNOVER FROM LETTINGS
Rents receivable are stated net of rent losses from voids.
|12|ACCUMULATED GENERAL FUND|2023|2022|
|---|---|---|---|
|||£|£|
||As at 1 January|532,906|725,970|
||Deficit for the year (note 1)|(306,075)|(113,685)|
||Surplus/(Deficit) on investment revaluations|4,386|(85,148)|
||Transfer from Amenity fund|11|5,769|
||As at 31 December|231,228|532,906|
||AMENITY FUND|||
||As at 1 January|11|5,780|
||Transfer to accumulated general fund|(11)|(5,769)|
||As at 31 December|-|11|
_Page 19_
## The Almshouse of St John the Baptist and St John the Evangelist, Sherborne NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
|13
REVALUATION RESERVE
As at 1 January 2023
Movement in year
As at 31 December 2023
14
EMPLOYEES
Staff costs during the year
Wages and salaries
Steward’s salary
Social security costs
Pension contributions
Redundancy costs
The average number of persons employed was:|Total
2023
£
1,614,999
-
1,614,999
2023
£
159,382
13,384
11,036
2,440
52,339
238,581
2023
No.
12|Total
2022
£
1,614,999
-
1,614,999
2022
£
234,570
22,337
13,381
3,058
-
273,346
2022
No.
24|Total
2022
£
1,614,999
-
1,614,999
2022
£
234,570
22,337
13,381
3,058
-
273,346
2022
No.
24|
|---|---|---|---|
|||||
||||273,346|
||||2022
No.
24|
During the year, 1 trustee (2022 - Nil) was reimbursed expenses totalling £23 (2022 - £Nil) for postage costs.
Neither the Brethren nor persons connected with them received any remuneration or other benefits from the Charity in the year (2022 - £Nil).
_Page 20_
## The Almshouse of St John the Baptist and St John the Evangelist, Sherborne NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
|15
CASH FLOWS
2023
£
a
**Reconciliation of operating result to net cash inflow from**
**operating activities**
Total loss recognised in the year
(301,689)
Depreciation
11,205
(Gain)/Loss on fixed asset investment
(3,016)
(Increase)/Decrease in stock
1,500
(Increase)/Decrease in debtors
(58,198)
Increase/(Decrease) in creditors
(8,958)
Net cash outflow from operating activities
(359,156)
2023
£
b
**Cash flows from investing activities**
Fixed asset additions
(33,481)
Investment income
(5,579)
Investment management costs
Drawn from investment
2,726
427,656
Net cash inflow from returns on investments and servicing of
finance
391,322
c
Analysis of net funds/(debt)
Bank
At 1 January
2023
£
101,224
Cash flow
£
32,166
Other non
cash change
£
-
At 31
Debt due after one year
(148,327)
-
6,878
Debt due within one
year
(6,878)
-
-
(53,981)
32,166
6,878|2022
£
(198,833)
10,900
107,365
-
9,363
(13,264)
(84,469)
2022
£
-
(10,054)
6,295
125,000
121,241
December
2023
£
133,390
(141,449)
(6,878)|
|---|---|
||(14,937)|
_Page 21_
The Almshouse of St John the Baptist and St John the Evangelist, Sherborne NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023
## 16 RELATED PARTY TRANSACTIONS
Mr R Hunt, one of the Brethren and Master from 14 January 2021 to 12 January 2022 is a director of Hunts Foodservice Ltd.
During the year Hunts Foodservice Ltd supplied goods to the value of £1,515 (2022 - £10,490).
From January 2021 until September 2023, Hunts Foodservice Ltd took over the maintenance of the books and records and began processing the payroll for the Charity. The total cost for all software and management charges were £4,074 (2022: £7,051)
|17|RESIDENTS|2023|2022|
|---|---|---|---|
|||No.|No.|
||The average number of residents was:|3|9|
_Page 22_
## The Almshouse of St John the Baptist and St John the Evangelist, Sherborne INCOME AND EXPENDITURE ACCOUNT for the year ended 31 December 2023
|Net income from non housing property
Rents receivable
Less: Repairs
Insurance
Utilities
Bad debts
Professional fees
Dividends received
Deposit account interest
Investment management costs
Donations
Deduct: Net expenditure on Charity per
property revenue account
Deficit for the year –general funds
Realised losses on investments
Deficit for the year – all funds|2023
£
123,449
(34,331)
(26,002)
(35)
(744)
(19,213)
43,124
5,356
343
(2,726)
781
46,878
(351,583)
(304,705)
(1,370)
(306,075)
|2022
£
111,201
(2,475)
(9,685)
(4,028)
-
(6,675)
88,338
10,174
-
(6,295)
1,238
93,455
(184,923)
(91,468)
(22,217)
(113,685)
|
|---|---|---|
_Schedule 1_
## The Almshouse of St John the Baptist and St John the Evangelist, Sherborne
PROPERTY REVENUE ACCOUNT – ALMSHOUSE OPERATING ACCOUNT for the year ended 31 December 2023
|INCOME
Contributions received from residents
EXPENDITURE
Provisions
Laundry
Salaries, wages, and national insurance
Staff training
Recruitment costs
Heating and lighting:
Gas
Electricity
Council tax and water
Insurance
Telephone
Miscellaneous expenses
MANAGEMENT AND FINANCIAL EXPENSES
Salary of steward
Stationery, advertising, including website
Computer costs and equipment hire
Accountancy
Professional fees
Bank charges
Bank and other interest
Management charges
Depreciation of furniture and fittings
Depreciation of housing properties
Release of Housing capital grant
Current repairs and renewals
DEFICIT FOR THE YEAR|£
2023
£
50,433
5,574
7,984
13,558
225,197
13
11,700
236,910
16,634
12,927
29,561
10,235
7,838
1,113
5,612
24,798
304,827
13,384
5,762
6,368
10,033
19,468
41
11
7,339
1,459
9,746
(6,878)
66,733
30,456
402,016
(351,583)|£
2022
£
222,101
35,483
8,349
43,832
251,009
-
-
251,009
10,160
8,516
19,135
9,618
7,623
1,245
5,498
23,984
337,960
22,337
3,266
5,286
4,306
4,000
337
-
4,950
1,823
9,077
(6,878)
48,504
20,560
407,024
(184,923)|
|---|---|---|
_Schedule 2_