**Charity registration number 203711**
## **THE AKRILL HOMES**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021**
## **THE AKRILL HOMES**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|H Veasey-Pugh|
|---|---|
||G Woodall|
||D Wills|
||R Johnson|
||D Coles|
||R Wilding|
|**Chair**|R Wilding|
|**Charity number**|203711|
|**Principal address**|5 Horsecroft Drive|
||West Bromwich|
||B71 3TE|
|**Independent examiner**|F L Clapham|
||CK Accounting Services|
||No 4 Castle Court 2|
||Castlegate Way|
||Dudley|
||West Midlands|
||DY1 4RH|
|**Bankers**|CAF Bank Limited|
||25 Kings Hill Avenue|
||Kings Hill|
||West Malling|
||Kent|
||ME19 4JQ|
## **THE AKRILL HOMES**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 13|
## **THE AKRILL HOMES**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
The Trustees present their annual report and financial statements for the year ended 30 September 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Trust Deed , the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
## **Objectives and activities**
The objectives of the charity is to provide Almshouses to be used as accommodation of elderly residents in need, over the age of 60 who have lived in Sandwell for 5 years.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
## **Achievements and performance**
## **Financial review**
Gross income of £50,509 (20 20 £52,338) was received.
The state of the Trust's affairs is set out in the attached financial accounts and continues to be satisfactory. The investments are reviewed annually by the Trustees.
The policy of the Charity is to maintain unrestricted funds at a level sufficient to ensure that its ongoing objectives and activities are not negatively impacted.
The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
The Charity is an unincorporated charity.
The Trustees who served during the year and up to the date of signature of the financial statements were: H Veasey-Pugh
G Woodall D Wills A Geddes (Resigned 1 September 2021) R Johnson J Veasey-Pugh (Resigned 1 September 2021) D Coles R Wilding
Trustees are appointed for their skills set which it is considered would be an asset to the furtherance of the objectives of the charity. No new trustees have been appointed this year. Trustees are re-elected every five years and the position of Chair, Vice Chair and Treasurer elected every year.
The trust has a board of 6 trustees at the present time whose responsibility it is to ensure that the aims and objectives of the trust are complied with.
The Clerk to the trust manages the day to day activities of the trust. Any of the Trustees are available for advice but the Clerk has frequent and regular contact with the Chair and Vice Chair.
- 1 -
## **THE AKRILL HOMES**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
The Trustees' r eport was approved by the Board of Trustees.
## **R Wilding**
Trustee Dated: 7 June 2022
- 2 -
## **THE AKRILL HOMES**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE AKRILL HOMES**
I report to the Trustees on my examination of the financial statements of The Akrill Homes (the Charity) for the year ended 30 September 2021.
## **Responsibilities and basis of report**
As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 an independent examination.
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 financial statements to be reached.
Frances Clapham
CK Accounting Services No 4 Castle Court 2 Castlegate Way Dudley West Midlands DY1 4RH
Dated: 7 June 2022
- 3 -
## **THE AKRILL HOMES**
## **STATEMENT OF FINANCIAL ACTIVITIES** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
|**Unrestricted Endowment**
**funds**
**funds**
**2021**
**2021**
**Notes**
**£**
**£**
**Income from:**
Charitable activities
**3**
48,691
-
Investments
**4**
1,818
-
**Total income**
50,509
-
**Expenditure on:**
Charitable activities
**5**
42,040
-
Net gains/(losses) on
investments
**9**
-
27,525
**Net movement in funds**
8,469
27,525
Fund balances at 1 October
2020
270,480
364,590
**Fund balances at 30**
**September 2021**
278,949
392,115|**Total Unrestricted Endowment**
**funds**
**funds**
**2021**
**2020**
**2020**
**£**
**£**
**£**
48,691
48,015
-
1,818
4,323
-
50,509
52,338
-
42,040
40,649
-
27,525
-
(16,858)
35,994
11,689
(16,858)
635,070
258,791
381,448
671,064
270,480
364,590|**Total**
**2020**
**£**
48,015
4,323
52,338
40,649
(16,858)
(5,169)
640,239
635,070|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 4 -
## **THE AKRILL HOMES**
## **BALANCE SHEET**
## _**AS AT 30 SEPTEMBER 2021**_
|**Notes**
**Fixed assets**
Tangible assets
**10**
Investments
**11**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
Net current assets
**Total assets less current liabilities**
**Capital funds**
Endowment funds - general
**14**
**Income funds**
Unrestricted funds|**2021**
**£**
1,811
202,735
204,546
(2,605)|**£**
344,957
124,166
469,123
201,941
671,064
392,115
278,949
671,064|**2020**
**£**
2,058
194,823
196,881
(2,012)|**£**
343,560
96,641
440,201
194,869
635,070
364,590
270,480
635,070|
|---|---|---|---|---|
The financial statements were approved by the Trustees on 7 June 2022
R Wilding **Trustee**
- 5 -
## **THE AKRILL HOMES**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **1 Accounting policies**
## **Charity information**
The Akrill Homes is an unincorporated charity that is registered with the charities commission.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the Charity's trust deed, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the Charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
## **1.4 Income**
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount.
- 6 -
## **THE AKRILL HOMES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings 2% Straight Line Fixtures, fittings & equipment 5% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.
## **1.8 Impairment of fixed assets**
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.10 Financial instruments**
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity 's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
- 7 -
## **THE AKRILL HOMES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the Charity ’s contractual obligations expire or are discharged or cancelled.
## **2 Critical accounting estimates and judgements**
In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **Critical judgements**
## **Useful economic lives of non-current assets**
The useful economic lives of non-current assets have been derived from the judgement of the trustees, using their best estimate of write-down period.
- 8 -
## **THE AKRILL HOMES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **3 Charitable activities**
|**Almshouse**
**income**
Almshouse
**2021**
**£**
Supporting people
227
Charitable rental income
48,464
48,691|income
2020
£
272
47,743
48,015|
|---|---|
## **4 Investments**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Investments|184|2,594|
|Interest receivable|1,634|1,729|
||1,818|4,323|
- 9 -
## **THE AKRILL HOMES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **5 Charitable activities**
|Depreciation and impairment
Garden Maintenance
Premises Costs
Window Cleaning
Repairs
Alarm Rental
Rates
General expenses
Building Insurance
Bank charges
Share of governance costs (see note 6)
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Trustee insurance
-
768
Independent
examination fees
-
1,530
Clerk's fees
-
12,011
Almshouse Association
subscription
-
215
-
14,524
Analysed between
Charitable activities
-
14,524|**Unrestricted**
**funds**
**Unrestricted**
**funds**
**2021**
**2020**
**£**
**£**
10,317
9,751
3,330
2,105
1,049
1,185
1,162
720
4,470
6,656
2,562
2,049
1,738
3,066
1,122
615
1,627
1,666
139
65
27,516
27,878
14,524
12,771
42,040
40,649
**2021**
Support
costs
Governance
costs
2020
**£**
£
£
£
768
-
758
758
1,530
-
1,500
1,500
12,011
-
10,395
10,395
215
-
118
118
14,524
-
12,771
12,771
14,524
-
12,771
12,771|
|---|---|
## **6 Support costs**
Governance costs includes payments to the independent examiner of £ 1,5 30 (2020- £ 1, 5 0 0) for independent examination fees .
## **7 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
- 10 -
## **THE AKRILL HOMES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **8 Employees**
There were no employees during the year.
## **9 Net gains/(losses) on investments**
|Revaluation of investments
**10**
**Tangible fixed assets**
**Cost**
At 1 October 2020
Additions
At 30 September 2021
**Depreciation and impairment**
At 1 October 2020
Depreciation charged in the year
At 30 September 2021
**Carrying amount**
At 30 September 2021
At 30 September 2020|**Endowment**Endowment
**funds**
funds
**general**
general
**2021**
2020
**£**
£
27,525
(16,858)
**Land and**
**buildings**
**Fixtures,**
**fittings &**
**equipment**
**Total**
**£**
**£**
**£**
467,230
9,963
477,193
-
11,714
11,714
467,230
21,677
488,907
131,399
2,234
133,633
9,345
972
10,317
140,744
3,206
143,950
326,486
18,471
344,957
335,831
7,729
343,560|
|---|---|
- 11 -
## **THE AKRILL HOMES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **11 Fixed asset investments**
|**Cost or valuation**
At 1 October 2020
Valuation changes
At 30 September 2021
**Carrying amount**
At 30 September 2021
At 30 September 2020
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors
Accruals and deferred income|**Unlisted**
**investments**
**£**
96,641
27,525
124,166
124,166
96,641
**2021**
**2020**
**£**
**£**
-
30
1,811
2,028
1,811
2,058
**2021**
**2020**
**£**
**£**
65
-
199
-
2,341
2,012
2,605
2,012|
|---|---|
## **12 Debtors**
## **13 Creditors: amounts falling due within one year**
- 12 -
## **THE AKRILL HOMES**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2021**_
## **14 Endowment funds**
|||**Balance at**|**Revaluations**||**Balance at**|**Revaluations**|**Balance at**|
|---|---|---|---|---|---|---|---|
||**1**|**October 2019**|**gains and**|
**1**|**October 2020**|**gains and**|**30 September**|
||||**losses**|||**losses**|**2021**|
|||**£**|**£**||**£**|**£**|
**£**|
|**Permanent endowments**||||||||
|Endowment fund||381,448|(16,858)||
364,590|27,525|
392,115|
|||381,448|(16,858)||
364,590|27,525|
392,115|
The endowment fund represents those assets which must be held permanently by the charity, principally investments. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund.
## **15 Analysis of net assets between funds**
|**Unrestricted**
**fund**
**Endowment**
**Fund**
**2021**
**2021**
**£**
**£**
Fund balances at 30 September 2021
are represented by:
Tangible assets
77,008
267,949
Investments
-
124,166
Current assets/
(liabilities)
201,941
-
278,949
392,115
|**Total**Unrestricted
fund
Endowment
Fund
**2021**
2020
2020
**£**
£
£
344,957
75,611
267,949
124,166
-
96,641
201,941
194,869
-
671,064
270,480
364,590|Total
2020
£
343,560
96,641
194,869
635,070|
|---|---|---|
## **16 Related party transactions**
There were no disclosable related party transactions during the year (2020 - none) .
- 13 -