2023-12-31-accounts - Devizes Almshouse Charity

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The trustees as at 31 December 2023 and	on the date the Trustees' Report was approved were as follows:	on the date the Trustees' Report was approved were as follows:
Mr SMcGregor-Johnson	Chairman and Chair ofthe Standing Committee,
	member ofthe Finance &Stafling Committee
Mr C Lucas	Joint Vice Chairman, Chair ofthe Commercial
	Properties Committee, member ofthe Properties
	Committee and member ofthe Standing Committee
Mr JG Jones	Joint Vice Chairman and member ofthe Finance &
	Staffing Committee, member ofthe Commercial
	Properties Committee and member ofthe Standing
	Committee.
Mr PBennett	Chairman ofthe Finance &Staffing Committee,
	member of Selection &Welfare Committee,
	member ofCommercial Properties Committee	and
	member ofthe Standing Committee
Mr DSW Elliott	Member ofthe Finance &Staffing Committee,
	member ofCommercial Properties Committee	and
	member ofthe Standing Committee.
Mr RAkerman	Chair of Community &Social Committee, member
	ofFinance &Staffing Committee, member ofthe
	Selection &Welfare, member ofthe Properties
	Committee and member ofthe Standing Committee
Miss FKTumber	Member ofthe Selection &Welfare Committee	and
	Community &Social Committee
Mr PP Duckett	Chair ofthe Properties Committee, member of	the
	Commercial Properties Committee and member of
	the Standing Committee
Mrs C Blyth	Chair ofthe Selection &Welfare Committee,
	member Properties Committee and member of	the
	Standing Committee
Mr D Burgess	Member ofthe Properties Committee
Mr P Kent	Member ofthe Properties and Commercial
	Properties Committee

Principal address	Slade House
	St James' Gardens
	Devizes
	Wiltshire
	SN10 1EL
Auditors	David Owen &Co
	17The Market Place
	Devizes
	Wiltshire
	SN10 1BA
Bankers	Lloyds Bank pic
	38The Market Place
	Devizes
	Wiltshire
	SN10 1JD
Solicitors	Awdry, Bailey and Douglas
	33StJohns Street
	Devizes
	Vwts hire
	SN10 1BW
Support Organisations	The Almshouse	Association
	Billingbear Lodge
	Maidenhead Road
	Wokingham
	Berkshire
	RG40 5RU
Insurance	Grout Insurance	Brokers
	2nd Floor
	Woolwich House
	43StGeorge House
	Croydon
	CRO 1LB

			Page
Trustees' report			1-4
Statement ofTrustees'		responsibilities
Independent auditor's		report	6-8
Statement offinancial		activities
Balance sheet			10
Statement ofcash flows
Notes to the financial	statements		12-22

							Unrestricted	Unrestricted
							funds	funds
							2023	2022
						Notes	E	f
~ln ~m!JrrLm.
Voluntary income						3	509
Charitable activities						4	441,520	386,573
Investments						5	196,446	175,504
Total income							638,475	562,077
EZg~ni ~rn:
(dtstJt(Jsisinafuads
Investment management						8	54,130	70,195
Charitable activities						7	480,345	447,816
Total resources expended							534,475	518,011
N in m fore		ai	losses	n	v		104,000	44,066
Net gains/(losses)	on investments					12	4,483	(401,742)
Net incoming/(outgoing)			resources				108,483	(357,676)
Other recognised		gains and losses
Profit on disposal offreehold investment				property		13	9,959
Net movement in	funds						118,442	(357,676)
Fund balances at 1		January	2023				8,883,995	9,241,671
Fund balances at	31 December 2023						9,002,437	8,883,995

				2023	2022
			Notes	6
Fixed assets
Tangible assets			14	4,313,351		4,401,935
Investment properties			15	3,108,434		3,495,000
Investments			16	238,632		228,968
				7,660,417		8,125,903
Current assets
Debtors			17	41,513	43,684
Cash at bank and in	hand			1,354,156	770,950
				1,395,669	814,634
Creditors: amounts	falling due within		18
one year				(53,649)	(56,542)
Net current assets				1,342,020		758,092
Total assets less current		liabilities		9,002,437		8,883,995
Income funds
~Unr ~ri gfi funds
Designated funds				8,602,437	8,533,995
General funds				400,000	350,000
				9,002,437		8,883,995
				9,002,437		8,883,995

				2023		2022
			Notes	6		g
Cash flows from operating		activities
Cash generated from/(absorbed by)			21
operations					27,330		(175,487)
Investing	activities
Purchase	oftangible fixed assets			(31,914)		(114,875)
Purchase	of investment property			(13,434)		(18,872)
Proceeds	on disposal ofinvestment
properly				409,959
Purchase	ofother investments			(5,181)		(4,715)
Investment	income received			196,446		175,504
Net cash	generated from investing
activities					555,876		37,042
Net cash	used in financing	activities
Net increase/(decrease) in		cash and cash
equivalents					583,206		(138,445)
Cash and	cash equivalents	at beginning	ofyear		770,950		909,395
Cash and	cash equivalents	at end of	year		1,354,156		770,950

5	Investments
		Unrestricted
		funds	Total
		2023	2022
		E	8
	Rental income	177,079	166,226
	Income from listed investments	9,534	8,724
	Interest receivable	9,833	554
		196,446	175,504
6	Cost of raising funds

Cost of raising fun	ds
			Unrestricted
			funds	Total
			2023	2022
v		n
Rental management	fee		19,496	14,828
Repairs and insurance			25,510	52,041
Rates			1,318	1,781
Legal and professional		fees	7,806	1,545
			54,130	70,195

				2023f	2022 8
Almshouses
Staff costs				70,997	64,192
Depreciation and impairment				117,961	115,882
Travelling expenses				77
Repairs and maintenance				82,470	117,085
Water				18,944	18,667
Electricity and gas				97,078	52,260
General insurance		and licences		12,365	10,791
Communication care and			telephone	8,134	4,540
Annual outing, Christmas			gifts and social expenses	3,772	3,897
Sundry expenses					19
Bad debts written	off				527
				411,798	387,860
Support costs (see		note 8)		61,140	53,273
Governance costs	(see note 8)			7,407	6,683
				480,345	447,816

		Total	Total
		2023	2022
		8	8
Staff costs		51,803	46,002
Depreciation		2,537	214
Telephone		4,295	3,612
Oflice expenses		1,997	1,853
Bank charges		277	334
Equipment	hire	135	620
Sundry expenses		96	638
Governance		7,407	6,683
		68,547	59,956

Support	costs allocated to activities	costs allocated to activities		(Continued)
			2023	2022
Governance costs comprise:				6
Audit fees			6,060	5,370
Trustee	indemnity	insurance	756	756
Sundry	expenses		591	557
			7,407	6,683

The average number of full	monthly number of full and part time time equivalent employees by function	staff during the year was 5 (2022 -6) and was: t	he average
		2023	2022
		Number	Number
Almshouses
Administration
Employment	costs	2023	2022
		8
Wages and salaries		108,072	98,685
Social security	costs	8,477	7,522
Other pension	costs	6,251	3,987
		122,800	110,194

				Unrestricted	Total
				funds
				2023	2022
				6	8
Revaluation	(losses)/gains	on investments		4,483	(401,742)
Other gains	or losses
				Unrestricted	Total
				funds
				2023	2022
				6
Profit on disposal offreehold		investment	property	9,959

Tangible fixed assets
		Almshouses	Almshouse	Office	Total
		and land	equipment	equipment
		6	6
Cost orvaluation
At 1 January 2023		5,143,501	49,506	12,718	5,205,725
Additions		26,394	1,920	3,600	31,914
Disposals				(1,801)	(1,801)
At 31 December 2023		5,169,895	51,426	14,517	5,235,838
Depreciation and Impairment
At 1 January 2023		775,388	21,368	7,034	803,790
Depreciation charged	in the year	110,747	7,214	2,537	120,498
Eliminated in respect ofdisposals				(1,801)	(1,801)
At 31 December 2023		886,135	28,582	7,770	922,487
Carrying amount
At 31 December 2023		4,283,760	22,844	6,747	4,313,351
At 31 December 2022		4,368,113	28,138	5,684	4,401,935

Investment property
		2023
		6
Fair value
At 1 January 2023		3,495,000
Improvements (Flat 2 Monday	Market Street &20 Sedgefield Gardens)	13,434
Sale proceeds: 16The Market	Place, Devizes	(409,959)
Profit on disposal		9,959
At 31 December 2023		3,108,434

If investment properties were stated on an would have been included as follows:	historical cost basis rather than a fair value basis,	the amounts
	2023	2022
	6
Cost	1,382,587	1,373,765

Fixed asset investments
	Listed
	investments
Cost orvaluation
At 1 January 2023	228,968
Additions	5,181
Valuation changes	4,483
At 31 December 2023	238,632
Carrying amount
At 31 December 2023	238,632
At 31 December 2022	228,968

Debtors
		2023	2022
Amounts falling due within one year:		5
Trade debtors		30,662	36,951
Other debtors		3,934	882
Prepayments	and accrued income	6,917	5,851
		41,513	43,684

Creditors: amounts	falling due within one year
		2023	2022
			6
Trade creditors		25,019	30,200
Other creditors		606	544
Accruals and deferred	income	28,024	25,798
		53,649	56,542

The unrestricted funds	The unrestricted funds	ofthe charity	also include	designated funds	which have been set aside	which have been set aside	by the trustees
for specific purposes.
				Movement	in funds
		Balance at 1	Incoming	Resources	Transfers	Investments	Balance at 31
		January	resources	expended		gains/losses	December
		2023f	F	f	f	f	2023 f
Designated	funds
Extraordinary	repair
and development fund		447,060			633,592		1,080,652
Cyclical
maintenance	fund	190,000			(90,000)		100,000
Fixed assets fund:
Almshouse	assets	4,401,935		(120,498)	31,914		4,313,351
Fixed assets fund:
Investment
properties		3,495,000			(396,525)	9,959	3,108,434
		8,533,995		(120,498)	178,981	9,959	8,602,437
General funds		350,000	638,475	(413,977)	(178,981)	4,483	400,000
		8,883,995	638,475	(534,475)		14,442	9,002,437

Cash generated from	operations	operations				2023	2022
						8	6
Surplus/(deficit) for the	year					108,483	(357,676)
Adjustments for:
Investment income recognised		in	statement		offinancial activities	(196,446)	(175,504)
Fair value gains and losses on		investments				(4,483)	401,742
Depreciation and impairment oftangible				fixed assets		120,498	116,096
Movements in working	capital:
Decrease/(increase) in	debtors					2,171	(7,315)
(Decrease) in creditors						(2,893)	(152,830)
Cash generated from/(absorbed			by) operations			27,330	(175,487)