GLYMYfoN ALMSHOUSES TRUST Reglstered Charity Number: 203244 ACCOUNTS YEAR ENDED 31 DECEMBER 2023 GLYMPTON ALMSHOUSES TRUST ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 INDEX Legal gnd A¢knini$ttBti￿ D¢tails TrL￿tees. Report Indepelldent Exatnin¢r'$ Rwn Ststement of Fitwicial Aeiiviti¢s Balall￿ ShKt Notes to the AccouThts 9-13 GLYMvfoN ALMSHOUSES TRUST ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 LEGAL AND ADMINISTRATIVE DETAILS Charlty Name: Glympton AJm5bou5C5 Trust Reglstered Charlty No: 203244 o Estate OfFKe GlyJWOn WoodstL￿k OKfor(L5biT¢ OX20 IAH Tru#tees: Ch8trn￿D Seeretsry Mr. BenWilsoD {appointed as Ch8Trman 6 March 2024) Mts. Sally Bro￿￿¢ Lt. Col. PeteT BroiAw¢ Ir¢tiT¢d as Chaim￿l 6 March 2024) Mr. Sandy Douglas Rev. Slepben Jones (t¢sigry¢d 30 May 20231 R¢v. DT John Rcader lappoijjted 30 May 2023, dted l Octokr20" M￿. Joart Moss Ire52gnrd 4 March 2024} Kat¢ Harri5 (appoin*d l Jatt¥ary2024) PROFLSSIONAL ADVISERS B￿kers. Th¢ C{￿]Ve Bank POBoxlOI l BallTh)n Street Martchester M60 4EP Ind¢pelld¢nt Ex#llthi¢r: Mr. David Hards ACA Colesboume Consulting Limited 9 Glyrnptoll W(MJdsl(Kk Oxfordshire OX20 IAL GLYMPTON ALMSHOUSES TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 HlJtOry? obJeetlve& and adMtI¢$ Th¢ ctiaTitabk th551 was c51abb.sl￿1 on 16 Jutt¢ 1952 by the wting orth¢ fteeknold title to apprwimat¢lyone- tlurd of an arre of land upon which the four apattsnellts colleLtively know) os Alan Good House. or Glyrnpton mshouses. weTe builc Th¢ TrE￿t 15 responsible for their maititctwjce and adTninistraiÉon. The"Scheme" was updstsd oft 18 ￿Et￿b¢r200l, as approved bytb¢ charitycomrni55i0n￿S. The obj'ects of the charity 8r¢: the provision ofhousinE o¢¢0]Tunodation for the benef*ciaries: and charitable purposes for the benefit of th¢ T¢sidetkts a5 the tyu5tee5 decide. (b) Ma￿1*m¢￿t governance arrgngenwits The Sctlcmc Prowdes that there shall be on¢ ¢x officio. ¢Jne nominated and five cwpted try5t¢¢5. The ex offjcio tru5t¢¢ will be the tncumbent of the B¢n¢fjc¢ of Wootton with GlyThptott alld Kiddillgton, unless heJ5he is nwilliug to 3¢t, in which case thiy appoirttmeni will r¢main vacant until the office holder Is replaced. Th ttomiTtyt¢d twstec tnust be appoinied by the GlyJllptoD P8rish Meeting, with each ap￿1￿¢m¢￿1 b¢ing for a Period of four￿&T5. Th¢ cwpted trustee5 must be 2ppointedbyth¢ ¢ru5tee5 in sp%ial meeting. The ChaTityCo]nmis510neTS Scheme d&ted 18 Dr￿mb¢r 2001 specified the of the cwpt¢d tyu5t¢¢5 (not cxceeding fouryeats) appoirtted at thst time, with e8¢h #ppoinlmerrtthereafter bell￿ o tentt of four ye8Th. At tbcir fwst ordiw mcetitts e4cb y¢ the It￿$¢etE M￿St ¢lE¢t of theirnumber to be Chairnjatt. No trust¢¢ ran bave atlypersonal intsresL itt the th￿ity. The trustees must hold st le&st two ordinary mc¢titLgs in each hvelve mottth period. Th¢ ¢baiTman, or any two trusiees maycall a special m¢¢tinE at any li￿. No business may be tsawacted At a un1¢55 three tfU51ees arepresent. and all thisiotss are ]]J#d¢bya majority vote. Th¢ i5 frspoDsible forthe inductiott of w truste¢. The tru5te¢5 identifyrisks to which tk ¢hNrity mrybe￿poSed. includin8 risks toth¢ ch￿tty'S financial p0511ion. The5¢ are kept Und￿reView9nd systems estknlisheil to Iddress any si8nifJc4nt risks idetLtifie(L The trustets set Dut brlowhcid olTicc durin8 the whole of the wi¢d from l Jamwy 2023 to the date of this repor4 ¢ss oth¢nwis¢ st4t¢d. Clgtrma MT. B¢n Wilsffl {appointedas Chainuw 6 March 2024) Secretsry Mts. Sally Browjc LL Col. Peter Brown¢ {retiT¢d as ChaiFDWL 6 March 2024) Mr. SBDdy Douglas Rcv. Stephen Jones Itesigned 30 May 2023) R¢v. Dr John Rcader{appointed 30 May 2023, al￿ l Octobw2023) Mrs. Joan Mo$$ {resign¢d 4 March 2024} Mt5. Kat¢ Harris (appointed l JaLwary2024) C￿opted Ctropted Ctrr4Jied C￿Opted C￿0P1ed Ex.OffJcio Nomitsated Ctropkd GLYMPTON ALMSHOUSES TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Achl¢vemeRts and p¢rfoTmXDte Flat4 wa5 Void fot th¢ first ¢wo montlL8 of thB ycaTJ Jfterthe departu￿ of Melinda atsi$iEn¥¢n 8t the end of Novemb¢r2022. Siobhth Greggon moved intothe flat on 13tM&rch but gave her twtite in November and moved obt on 7th Fcbruary. 2024. Glynis Re¢5. a 70 yeorold 5PLllSter. still wothDg in the sector, and a long temi resid¢Lt of Wootton. has been appointed a5 a beneficiary and rnoved into the fial￿th effect frojn 15th April. 2024. The othet three fiats hav¢T¢maIn￿ LKwied tbrtsugbout the year. Double Bla2￿ windows of the satll¢ d¢sign as the ¢xisting l¢thd w&ndows wer¢ installed ift Flat 4 IJJ S¢ptember 2023 at a ¢ostof £9,360. It LS IElteJMkd to i0sth]l themin Flat I dwing2024 And to complete thepro8rrnc with Flat 2 iti 2025. Th¢tru5tees set aWe¢kly Mainterw?ce Char8¢ (WMQ for 2023 of £179.76 per weeK including a service8 ¢l¢tn¢nt of £57.91 cov¢ring ttje costof cetttsxl h¢ating oil. water ands¢w¢rag¢. and th¢ corn￿n area ele£trittty hBrg¢5. based on a budg¢t of102.63p per litr¢ for heating oil. In th¢ cven( the cost of oil wa5 5ignifE¢th]dy low¢r during th¢ywthts hRd been eXP￿ted and, CollsequeD￿y, the t￿￿te¢s[¢duced the services el¢meni of the WMC to £53.96 p¢rweek in April and to £37.44 per we¢k ID July. The trÉ$tees have seta WMC for 2024 of £178.27 per week. includithB a 5eTViC¢5 element of£49.59. based on bud8et e05t of central heatin8 oil of 79.51p p¢rlitre. irtcluding VAT. Th¢ ffi￿teeS will COlltinu¢ tok¢ep the cost of oil and electririty underr¢view attd will adjustthe tafr of WMC if neeessary. Flnottdal revlew. lllvestmetttpollcy and reservés The nct sutplus beftt￿ th¢ utLreali8ed d¢fi¢it on investment& £6,913 (2022 -£8,780). The increase IJJ the ork¢l value of invesbn¢nts for the yea[ £2,541 {2022- d¢¢Te&5¢ of £3.3321. whith wa5 all traosfened to the Investment Revaluation Reserve. At the end of the fjnattcial yearthe Trust's thtal f￿￿$ ca￿Led foThvard were £163,471 {2022- £154018). Thc tOJ5tce5 Teco8til5e th¢ need to set aside r¢5¢rve5 for future ￿3[￿tener1C¢ of the Almthouscs. Tothis end the 5t¢¢5 are setting &%id¢ Such ftlnds eVery￿ar, as they feel abk The adequwof th¢ l¢v¢l of these reBe￿e$ •tsd the ch8rity's reserve poli¢y ar¢ monitored by th¢ tru5tee5 annually. It ts th¢¢h4Fity'5 policy to XttV¢$l Bny surplus in s¢cure inveswts su¢h as the Natiots￿ A$3wi&tiotL of Ajmshow Charity's Jnv&%ttnBnt Fuods and its Natiorthl Savwgs a¢cowJL GLYMPTON ALMSHOUSES TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 ststenwit of tryg*e¢s' r¢spott¥lbllltle5 ChATity lawt¢qutyts the to Prepare aceounts for￿￿ fiTwJcial year￿leh show a trlle and fair view of the Ètaie of affaits of the rbaTityand its financi8] aciiviti¢s for thatperiod. In prepariD8 those ￿CO￿ts. th¢ tntsttts are required to.. select Suitable accwitingp)licie$ ond thcn applythem coL8istethtly, - make judgements and estimate$ that aT¢ rea80nable and prud•)4 stat¢ whether applicable accoukting standyrd5 and statements of rec1mn￿d¢d PWtir¢ hav¢b¢¢n followed. subject to any dcparbjres disclosed and up1al￿d in the accounts" and - prepare the accounts on the goin8 coJK¢rn basi5 unle55 it is I￿appr[￿lateto pruum¢ tha¢ th¢ charitywill ontinu¢ in operational existert¢e The I￿Ste¢S are responsible fork¢¢pitig PTop¢raccounting records wbi¢h diwlos¢ with reasonable aceuracy at 8ny time ttle finallcial position of the chaiity and to ¢Dable them 10 ensure that Ibe s¢¢i)unt5 Cotnply with the Chatitie$ Act 2011, the appltcable Chatitie5 (A￿O￿nts and Reports) Regulation4 and tk provisions of the twstdeed. They XT¢ gjso T¢Sponsible forsafeguordill8 the 4ss¢ts of the charity attd ILence fortskittBr¢a8onable Steps forthe pr¢v¢ntion awj dct¢¢tionof fraud and 0ther1rr¢g￿￿c5. IndependentEx•mlner Followryng the Housingcorporation's corksent ￿ the charity's deregi$tration in 2Tr)S, th¢ T￿￿t¢eS decided to disP¢n5e with the nee(8ttd expense. of an Rudit Instead they obtaitt an itidepend¢nt ex4mination of the fmancial stal¢uMt& The currcni Jndepelldettt EXa￿]ller15 Mr. DavidHards of Colesbou¥lle Cousultiug Limited SI￿¢d on bEha]f of the knJs*ees I: 202Jl Ch&imMtt INDEPENDEPIT EXAMINER'S REPORT TO THE TRUSTEES OF GLYMPTON ALMSHOUSFS TRUST ON THE ACCOUNTS FOR THE YEAR EI¥DED 31 DECEMBER 2023 I r¢port on th¢ acwwlts of the Th￿t for th¢ y¢or ¢TLded 31 Decenther2023. which are s¢touton p9ges I to 16. Respeetlve responslbllllks oftru$tr¢i •nd examlner The charity's trustees att resptsn5ibl¢ for the preparation ofthe ace4)UTJts. They CODsider that èn 8udit is not rcqu2red forthis ye4ruttder s¢d2on 14412} of the Charities AcL2011 (th¢ 2011 Act) and thai SD independ¢llt ¢AirninatiOll IS Deeded. It is Iny K5POll5ibi1sty to.. eN8mine the accounts under sectiott 145 of the 2011 Act,. followthe provduT¢S laid dowj in theGeneta] Dir¢thioDs given by the Charkty COt￿mISsI¢)n undersection 145(51(b) of the 2011 Act. and state whetherp8tti¢ularTnatters I￿e corneto my att¢rtiion. Bath of Indepe￿￿te￿A￿l￿Cr,S report My examination was caTri¢d out in accordance with Get￿tal Directions given by the Clwtty Commi&8ion. Atl examination include5 a ￿vi¢￿ of th¢ accounting re￿rdS kept by th¢ charity and a Comparison of th¢ aG¢owits presented with those re¢oTd5. Ita150 includes considetstiort of any unusual items ordisc105ures in the ¥wwits, and seeking explanations fivm the tr￿¢¢¢s Collcemillg attysllth rn#tt¢r5. Thc prc¢edures u]]dertak￿d0 not provid¢ all the ¢vid¢nce thatwould be r4UiTed ill auditand conseouent]y Jjo opioion is given a5 towhetherthe ac¢oLmts PFcs¢nt a'lNe and fair vie￿. athd the report 15 limited to those matter8 Set out ID the statement below. Independent ex8mkner'J ststewent Jn thecourse of myexaminthon, no Jllalter tLL8 come to my frtt¢rttion'. which gives m¢ wsonablc ￿uSt to believe thai ill a￿Y￿￿terial t¢specL therequirements.. to ke¢p accounting record8 in accor11￿¢¢ with section 130 of the 2011 Act., and to pr¢par¢ accounts which t¢cord with th¢ accounting records attd ¢omplywith th¢ accounting requirewts of th¢ 2011 Act,. bav¢ not b¢¢ll m¢L or (2) trt whi¢h, in my opiniow 8ttentioll shouldbe drawl order to enabl¢ 8 prop¢rundeTstsndstLg of the •¢¢IKmts to br ￿￿¢￿ed. Signed.. JK 6FA 0$ i￿orne wh¢n r¢c¢ivabl¢. Donated 8trvl¢es fhtllltlti Th¢s¢ ar¢ only in¢lud¢d iu inc¢)]￿ (with an equivalent amount itl expendibjrel wherethe benefitto thetharity is reasonably quantifiable, theasunble aod material. Thc valu¢ plac¢d on such itLCOme 15 the ¢5timated vajue lo the ehaEityef the 8ervice of fvility ￿￿e1Ved. VoluMt¢er help The value of anyvolunteerhelp received ts ifjclud¢dio the A¢¢ounts but Is d¢s¢ribed ID the th￿1¢¢5, aEllual report. fthvestm¢nt This is Tu¢ludrd in thr ￿roU￿ts wh¢D r¢ccivabk. GLYMPTON ALMSHOUSES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 2 Accountlng polltlel {conthiued) EXPENDITURE AND LIABILITll&S Llablmty rttognldon Liabilities are recognised as srATh as there is a lega] orconstNJctive obliWioD ¢ommi¢tingth¢ Charityto pay. Sllpport costs Support wsts in¢lu(k ¢¢ntral futlctions gnd havcbeeaall￿aÈed to the TTUSt'$ main activhty (Note 4}. Governath￿ ¢￿ts Include costs of the preparation and examinatiort of stathtory accoun￿ th¢ ¢05t of ￿ste¢S mcetings and cost of any legal advice to trusie&4 on governance orconstitution81 tnatteT5 (s¢¢ Not¢ 5). Glymptoll Almshouse$ TnL8t 1$ a ￿gistEr¢d ¢harity #nd #c￿r￿u￿1Y is exemptfromtsxation on it8 income and gains where they are applied for chatitable purposes. ASSETS Houslng properttes Gl)rynpton Almshou5¢5 w¢K collstructcd in the mid 20 Century alld thue ts teeord ofthe original cost alld no value is attribw¢d thereto. Th¢ Hovsirtg Properties ¢O5ts in tht8e accounls rclateto improvements carried outmthich were fjanded by a Housittg Coryordtion Grattt, & IoAn fro]u the Ci)op¢ra¢iv¢ Bank plc and from the chariry's owryj resources. The net cost 8rrived at afterhavittg de¢fu¢tedthe Housing GT4nt is deprecsated at 2Yo per allnum OTh a straight-line basis. Soclgl HouslDg GTats¢ Swial H¢)using Grant (SHG) 15 paid bythe HousiDg Corpor￿10￿ to reduce the cost of developJJJent attd is, therefore. $hown a5 a d¢ductioTh from th¢ ¢0st of Housing Properties in the Balance Sheet. SHG is repayable uttdercetsin circumstsuces, PTimaTily foll¢)WiTJ8 the saje of aprop¢ty, but will nonnallybe restricted wthe netpr(¢eeds of sale. Investmtnts lllve5tments sre shown tt znarketvalu¢. Movewjts in th¢ J)78rk¢t value of investm￿lS are token to th¢ R¢valua¢ion Resetve attd disclosed in the SOFA. Wb¢n tb¢ R¢v8luation Rc5crvc becomes exhausted any fi￿¢[ f8lls LD the Dwket value of invesknenis are reflected irt the IncoHJB and Exp¢nditur¢ Account Isc¢ Not¢5 8. 1 l and 121. luvestmtnts tovestsnents are shown at market vabje. Movemeots itt th¢ Mork¢t7pp]￿ of inve51m¢TLts are taken to the Reva]uatiotL Reserve sttd disclosed in the SOFA. Whell the Revaluation R￿erV¢ ￿¢0￿¢5 ¢xh8U5t¢d any furtller faJ15 in the marketvalue of ittvesthents arereflected in the kncome ExpellditUTe Account {5tt Notr5 8, 11 and 12). CASH FLOWSTATEMENr Illa￿rd￿r with FRS 102 SORP this Charity is not required to p￿1￿¢¢ a Cash Flow Statell￿1. GLYMPTON ALMSHOUSES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 3 ADalysts ortB¢fjme To 202 Total Inve5tmentlncome Interest receivable Dtmdends from Income Shares (Note 8) Accumulat¢d Divid¢tLds (Note 8) 170 77 21 71 74 In¢ome froth ¢h8ri¢abl¢ activlde8 Maintenance contributions from residents Donation5 Gu¢st mom ThLtsI Sundry income 33.496 2.000 loo 804 30.581 4 ADalyils of expends￿re on eharitsblt *¢llvltl*i Mailltenance Cl¢aning & GaTd¢niJg Insurance Heatiti8 Oil Healwg & Water Rebate Electricity Water & Sewerage Persojjal A]ami ttnd Fitc Equip. Pest Control T¢l¢pl)oJxe Depreciation Gifts to R¢5ithnts BÈttk charges QuiDqu¢D]JiaJ inspxtion Misttllaneous charges Iknart Interest 20.107 887 ,179 6,519 13J45 529 7.959 {12921 595 1.210 629 1,057 JJ71 342 178 456 21K 456 205 55 273 S ADalysl$ rfexpendl¢ure Gov¢rngnee tosts Total Tot#l NAA subscriptio llldependent Hou5illg Ombuthnxn sub& IndeF¢ndent Examinatton Fee 153 23 600 776 146 18 575 739 Th¢ I0dep¢nd¢otEx￿]ller's f¢¢ itLclud¢dth¢ prcp&ration atld reporting upon the accouJ)ts. GLYMPTON ALMSHOUSES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 6 TTh6teu expen8e5 and emo]uments gnd staff 2023 2022 Numb¢rOftn￿*¢5 w¢r¢ pid up¢n5CS Nature of the expenses reimbursed Totsl allmjnt of expeusw r¢iH]buTS NIA NIA NIA NIA No tnJ5tee received any emolunRnts fmm the charity in the year12022-Nonel. Th¢ Tntydots not ¢mploy any staff12022-None). 7 TanRlble flled aJJets ro 2023 2022 Cost: At l 8nd 31 D¢¢¢tt)b¢r 107 573 107 573 Social Hou51Dg GT#lIt: At l Jattuary 8lld 31 D¢¢¢mb¢r C05t1¢5$ Sorlal Hou51ng Grautr. Depreti*don: At l January Cb8r8e forthe year At 31 D¢¢Emb¢r 19.842) 456 98 (9.386) 456 10 Net Bookvalue 8t31 DeeÈmber As referred to in Notts 2 & 10. the Trustees t￿k a loart of £40,OOD in 2001 from the C0DpWdti￿ B￿pIC in ord¢r to fitLgn¢¢ the refi￿lshment of Atan Good Howe. the TDJst's propety. This loan w repAid in 2021 GLY￿(PToN ALMSHOUSES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 8 Flxed a6$ets Investments NAACIF NAACIF Totgl ula Marketvalue: As Rt l J4D¥ary Adth"tLons AGcumulal¢d inGouJE Revalualion adiv5tr¢nt At 31 Dc¢¢mb¢r 1.798 114.345 1,800 4,671 116,143 1,800 4,671 lJ3.491 1,8 4.184 31 123 25 125 154 116 143 Investnwits eornprlsethefollowlng: Total 023 Totsl 2022 1,100 AccumulatioD Slwes inNAACIF {2022- 1,0831 2.036 Income Shares ill NAACIF12022-2.0361 123,325 114,345 1,829 125 154 1,798 116143 Historic infonnBtion of the original cost L5 not available. The InconK Share3 in NAACIF represent the expendable e]]dowment fund established upun the Greation of the TDJ5t. Th¢ xncoll% ar￿ capital in this fijnd can be ￿ed by the Ttusiee8 to defixy any costs i]*urred itt rep&iring. TDaintaiDiDg and iD$ursng th¢ Altn5houw atld anyoth¢r itlcidental c08ts and expense5 of the T[￿t. Consequently. the divide]Ml Inc¢)j￿ in th¢ycBr from th¢5¢ Shar￿ (se¢Nol¢ 31 was paid into th¢unrestrictedbaDk accowLt and p￿t tow&rds th¢ tru5t'5 ¢¥p¢nditur¢ on its charitable activities (NNe 4). The A¢cum￿l&tIon Share5 itl NAACIF represent part of the unrestricted bJnd8 of the trllst. 9 Debto To Amounts fglllng due wkhlD olle yeAr Prepa)Tr¢nts and accrued income GLYMwfoN ALMSHOUSES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 10 CTedltors 20 Amounts fAlllngdue whhln one y¢w Loan {xcur¢d) Oth¢r ¢r¢ditOfS 8nd &c¢ru81$ 2.890 1.376 Ajnounts falllD¥ due *fter more oneyear n (secured) In 2001 a loatl of £40.000 was taken fromthe Cooperative BaDkplt by the TO￿￿¢$, in otd¢rto fJJw¢ the refirt*ishm¢Dt of AlaD Goc4 House. the Tntst's pmwty. This loatt wa$ s¢¢ured by a fllst k8al U￿rt888t ov¢rthat property, ac¢Eued interest at 1.125% over base and repayable by Ttx)nthly illstalrnents until M8y2026. In May 2014. an additiona] £I2.000 of the capital value of this Ioall W&4Tepaid bythe TTh￿t. On 10th Novernber 2022. the remainitag balwL¢¢ of £4284 wa5 repaid. £50 was charged forthe release of th¢ tid¢ d¢¢ds. 11 lttv¢$tm¢nt R¢V41￿•t10tt Ruerve5 Endowment 2022 At l J8ttU8ry 27,448 681 28,129 31,461 Revaluation adju$tmotthi¥ y 2,510 30 2 J40 13,3321 AÈ 32 De¢¢mb¢r 29.958 711 30.669 28,129 12 OtherReserveJ nated na endable Tots Income & Lotal ndlthre ¢count 2023 5eTYe Fund 2022 At l January 94.811 29.960 125.889 I17.109 SuTplusl(defJcit) this y¢9r 19,360) 16273 6,913 8.780 85.451 46233 132,802 125,889 Transfers in the year 15J)00 (15.Otxi) At31 D¢c¢TtLb¢r 100 451 132 802 125 889 The D¢5ignatrd MHintcnance ReSe￿e and the Income & Ext*ndtture Account are p8rt of the Tmjst's Utttstricted Fund5. 13 C8pllal ComD]ItsRents and Coatlni¢nt UgblUtI¢8 There wereTh) capitat t0￿mItt￿ents or¢4)ntstLg¢nt liabiliti¢5 Ilt 31 Decembcr 2023 atld 2022.