## **THE BRIGSTOCKE ALMSHOUSES** **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MAY 2024** **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024** ## **THE BRIGSTOCKE ALMSHOUSES (REGISTERED CHARITY NO: 203960)** **----- Start of picture text -----**
Page
Charity Information 1
Report of the Trustees 2
Independent Examiner's Report 3
Receipts and Payments Account 4
Statements of Assets and Liabilities 5
Notes to the Financial Statements 6
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## **THE BRIGSTOCKE ALMSHOUSES** ## **CHARITY INFORMATION FOR THE YEAR ENDED 31 MAY 2024** **----- Start of picture text -----**
TRUSTEES Steven Sheridan
Andrea Smith (resigned April 2024)
Anthony Bicknell
Janis Mundell
Alois Temel
Deborah Savill
ADDRESS 65 Argyll Street
Ryde
Isle of Wight
PO33 3BY
REGISTERED CHARITY NUMBER 203960
GOVERNING DOCUMENT Deed of Trust dated 10 September 1891
INDEPENDENT EXAMINERS Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ
BANKERS Lloyds TSB Bank PLC
35 Union Street
Ryde
Isle of Wight
PO33 2HL
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Page 1 ## **THE BRIGSTOCKE ALMSHOUSES (REGISTERED CHARITY NO: 203960)** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 31 MAY 2024** The trustees present their report together with the financial statements of the charity for the year ended 31 May 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP FRS102). The legal and administrative information set out on page 1 forms part of this report. ## **CONSTITUTION, OBJECTS AND AIMS** The Brigstocke Almshouses is a registered charity, No. 203960. The charity's deed of trust was adopted on 10 September 1891. The object of the charity is that of providing housing for 6 elderly females, who must be residents of the Parish of Ryde (former Parish of Newchurch) and be "poor and of good repute" and "being members of the Church of England or dissenters therefrom". ## **FINANCIAL REVIEW** Whilst we have maintained a high level of occupancy for the past year, the trust incurred significant legal costs in reclaiming possession of one flat. Despite this, and £7,000 of repair and maintenance costs, the charity showed a surplus of £15k for the period. Reserves continue to be healthy at £112,175 and certainly sufficient to continue to maintain the building to a good standard for the foreseeable future. ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 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 financial statements comply with Statements of Recommended Practice and the regulations made under the Charities Act 2011. 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. ## **RESERVES POLICY** The Trustees policy is to try to hold sufficient reserves to ensure any emergency repairs can be carried out without delay. A large part of the current reserves will be used to finance the comprehensive five year maintenance programme indicated from the quinquennial inspection, however the Trustees believe that sufficient funds are held to finance these repairs and to ensure any emergency repairs could still be carried out as necessary. Approved by the trustees and signed on their behalf by: ………………………………………………………………………………………………… S Sheridan - Trustee 2 October 2024 Date: ……………………………………………………… Page 2 THE BRIGSTOCKE ALMSHOUSES {REGISTERED CHARITY NO: 2039601 INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MAY 2024 I report on the account5 01 the ch3rity for the year ended 31 May 2024, which are set out on page5 4-6. RESPEcfivE RESPON5181UTIE5 OF ThE TRUSTEES AND EXAMINER The charity's trustee5 aTe responsible for the preparation of the accounts. The charity's trustee5 consider th3t an audit is not required for this year under section 144 121 of the Charities Act 2011 Ith@ 2011 Artl and that an independent examination is needed. It isthe examiners responsibility to.. examSne the account5 under sedion 145 of the 2011 Act,. to follow the procedures Izid down in the general direction5 given by the Charity Commission under section 14515llbl of the 2011 Act,. and to State whether particular matters have come to rny attention. 8A51S OF INDEPENDENT EXAMINER'S REPORT My examÉn?tion was carried out in a¢cordance with the general dlrertions given by the Charlty Cotnrnission. An examination InCl￿deS a review of the accDunting ¥ecords kept by the charlty a comparison of the accounts presented with those rEcords. It also includes consideration of any unusual items or disclosures tn the accounts, and seeking explanations from you as trustees Con￿rning 3ny such rnatters. The procedurès undertaken do not provide èll the evidence that would be required in an audit and consequently no opinion is given a5 to whether the accounts present a 'true and fair view, and the report Is lirnited to those matter5 set out in the statement below. INDEPEAIDENT EXAMINER'S STATEMENT In cannection with my examination, no matter has cDme to my attention.. which gives me reasonable caLf5e to believe that in atly material respett the requiren7ents.' to keep accounting records in accordance with Section 130 of the 2011 Act.. and to prepare accounts which accord with the accounting records and comply with the accounting ￿quIrementS of the 2011 Act have not been met.. or to which, in rny opini(m, attention should be drawn in order to enable a proper understsndlnE ol the accounts to be reached. Mark Paxton FCCA Bright Brown Lirnited Exchange House 5t. Cr055 Lane Newport, 151e of Wight P030 58Z Date.. Page 3 **THE BRIGSTOCKE ALMSHOUSES (REGISTERED CHARITY NO: 203960)** ## **RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 MAY 2024** |**RECEIPTS**
Maintenance charges
Investment income
Other Income
Donations
**TOTAL RECEIPTS**
**PAYMENTS**
Light, heat and water
Council tax
Insurance
Building repairs and gardening
Subscriptions
Independent examiners remuneration
Professional fees
Bank charges
Misc expenses
Gifts and grants to individuals
**ASSETS AND INVESTMENT PURCHASES**
BlackRock charities investment transfer
**TOTAL PAYMENTS**
**NET INCREASE/(DECREASE) IN CASH FUNDS**
**NET MOVEMENTS IN CASH RESERVES**
Cash funds brought forward
Net movement in reserves
**CASH FUNDS CARIED FORWARD**|**Unrestricted Endowment**
**Total**
**Funds**
**Funds**
**2024**
£
£
£
28,097
-
28,097
3,449
331
3,780
-
-
500
-
500
32,046
331
32,377
30
-
30
-
-
2,021
-
2,021
7,584
-
7,584
434
-
434
522
-
522
5,263
-
5,263
45
-
45
144
-
144
500
-
500
16,543
-
16,543
(331)
331
-
(331)
331
-
16,212
331
16,543
15,834
-
15,834
96,341
-
96,341
15,834
-
15,834
112,175
-
112,175|**Total**
**2023**
£
28,681
1,178
2,268
500
32,627
-
90
1,711
10,412
300
486
2,226
60
167
500
15,952
-
-
15,952
16,675
79,666
16,675
96,341| |---|---|---| The notes on page 6 form part of these accounts. Page 4 ## **THE BRIGSTOCKE ALMSHOUSES (REGISTERED CHARITY NO: 203960)** ## **STATEMENT OF ASSETS AND LIABILITIES** ## **AS AT 31 MAY 2024** |**CASH FUNDS**
Current account
COIF charities deposit account
United Trust account
**INVESTMENT ASSETS**
BlackRock Charities Charishare Common Investment Fund Accumulation
Cyclical maintenance fund
Extraordinary repair fund
General fund
Permanent endowment
**ASSETS RETAINED FOR THE CHARITY'S OWN USE**
Land together with six almshouses and offices (market valuation 2021)|**Unrestricted**
**Funds**
**2024**
£
34,230
31,681
11,381
77,292
**Current**
**Value**
£
-
-
29,483
5,403
34,886
**Current**
**Value**
£
735,000|**Unrestricted**
**Funds**
**2023**
£
52,175
598
10,819
63,592
**Current**
**Value**
£
-
-
27,678
5,072
32,750
**Current**
**Value**
£
735,000| |---|---|---| The notes on page 6 form part of these accounts. Approved by the Board of Trustees on ……………………………………… and signed on its behalf by: ………………………………………………………………………………………………… S Sheridan - Trustee Page 5 **THE BRIGSTOCKE ALMSHOUSES (REGISTERED CHARITY NO: 203960)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024** **----- Start of picture text -----**
Transfers
As at Incoming Resources Between As at
01 June 2023 Resources Expended Funds 31 MAY 2024
£ £ £ £ £
MOVEMENTS IN FUNDS
UNRESTRICTED FUNDS
General fund 96,341 32,046 (16,212) - 112,175
DESIGNATED FUNDS
- - - - -
Cyclical Maintenance Fund
- - - - -
Extraordinary Repair Fund
TOTAL DESIGNATED FUNDS - - - - -
TOTAL UNRESTRICTED FUNDS 96,341 32,046 (16,212) - 112,175
RESTRICTED FUNDS
Permanent Endowment - 331 (331) - -
TOTAL FUNDS 96,341 32,377 (16,543) - 112,175
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