HAWLEY ALMSHOUSE AND RELIEF IN NEED CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31. MARCH 2024 RECISTERED CHARITY NUMBER: 204684
HAWLEY ALMSHOUSE AND RELIEF IN NEED CHARITY INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31- MARCH 2024 Page No.: Trnstees and Professional Advisors Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements.
HAWLEY ALMSHOUSE AND RELIEF IN NEED CHAIUTY TRUSTEES AND PROFESSIONAL ADVISORS Trustee Chairn)an: Mr. S.J. Twinn Trust¢¢s: Mr. J.L.Housd¢n Mrs. A. Thain Mr. A.L. Rose Mrs. J. Reed Ms. H. Bourton (resigned 13 September 2023) Ms. R. Robertson Charity Number.. 204684 Independent Examiner: Lightwater Accountants Limited 2 Quarry Bank Lightwater Surrey GU18 SPE Investment Managers: St. James's Place Wealth Management St. James's Place House l Tetbury Road Cirenc¢ster Gloucestershire GL7 IFP Charity Address: Ratcliffe Hous¢ Hawley Road Blackwater Camberley Surrey GU17 9DD Principal Banker: Lloyds Bank Plc. 19 Obelisk Way Camberley Surrey GU15 3SE Page I
HAWLEY ALMSHOUSE AND RELIEF IN NEED CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 The Trustees present their report and the fmancial ststements for the year ended 31° March 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Stat¢ment of Recommended Practice applicable to ¢hariti¢s preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT Organisation Hawley AInhouSe and Relief in Need Charity was established on the 21° December 1970 in two branches, the Almshouse Branch and the Relief in Need Branch. Henry Randell's Almshouses w&s established in Schemes of the Charity Commissioners of 24th October 1922, 8 December 1961. 20th July 1977 and I Ith February 1998 and its registered number is 236410. On 27 April 2006. the Charity Commission issued an Order under Section 96(6) of the Charities Act 1993, uniting the registration and r¢porting of both the charities. Recruitment and Training of Trustees. There are no restrictions on persons eligible to act as Trustees, but the policy is to recruit where appropriate. persons who bring an ¢xp¢rience in dealing in the areas of social concern and in areas of governance and property. Tntres are appointed under the governing scheme for a period of 5 yes, which is renewable. When new Trustees are appointed, they are familrarised with the provisions of the schemes, the financiaI status of th¢ trusts, the minutes of previous meetings, and are encournged to attend appropriate training courses. Risk Management The Trustees have engaged in a programme of risk evaluation to ensure principally that the buildings in their care are secure environments for the residents. OWECTIVES AND ACTIVITIES Objeetives The objectives of Hawley Almshouse and Relief in Need Charity are as follows: Almshouse Branch - Th¢ Trnstees may provide almshouses for the residence and benefit of Almspeople, who are or have been residents of the old Parish of Hawley, and who are in need. This was extended by a scheme issued by the Charity Commission on 28 November 2006 to residents in the area covered by Hart District Council and Rushmoor Borough Council. Relief in Need Branch - The Trustees shall apply the income in relieving, either generally or individually, persons resident in the old Parish of Hawley, who ate in ¢onditions of need, hardship or distress, subject to the payment of management expenses. This was extended by a scheme issued by the Charity Cornmission on 28 November 2006 to residents in the area covered by Hart District Council alld Rushmoor Borough Council. The objectives of Henry Randell's Almshouses are that its property be used for the accommodation of elderly persons of good character who are in need and are members of the Church of England. Page 2
HAWLEY ALMSHOUSE AND RELIEF IN NEED CHARITY REPORT OF THE TRUSTEES CONTINUED FOR THE YEAR ENDED 31sf MARCH 2024 Activities The Trustees are continuously engaged in evaluating the needs of the residents. and meet quarterly, or more often if required, to review the activities of the trusts, its financial status, its budgets, its relationship with the relevant statutory authorities, and the health and wellbeing of the residents. There is a continuous programme of maintenance. Achievements and Performanee For th¢ year ended 31 Marcb 2024, the charity reported net expenditure from charitable activities of £12,952. Net realised gains on investments were £3,701 for the year, with net unrealised gains on investments being £ R03.324 as at 31 March 2024. The overdll increase in funds was £94.073. For the year ended 31 March 2023. the charity reported net expenditure of £47,218, (after costs of £45,000 for kitchen refurbishments and the upgrade of the telecare system). Unrealised losses on investments for the year ended 31 March 2023 were £33,918, leading to an overall decrease in funds of £81,136. Other activities have been satisfactory, and the Trustees are continuing to ensure the objects of the Trusts are being complied with. Plans and Expectations To contTnue the provision of sufficient funding to maintain the management of the Charity and thereby provide a satisfactory level of care for the residential community. Publie Benefit Because of the nature of the trusts, the charity is fulfilling its role in the community in catering for the needs of the vulnerable in society within the geographical areas of Hart District and Rushmoor Borough Councils. The Trustees have been working to ensure the incorne of the Relief in Need trust is fully utilised to the benefit of the community. Page 3
HAWLEY ALMSHOUSE AND RELIEF IN NEED CHAIUTY REPORT OF THE TRUSTEES CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 STATEMENT OF TRUSTEES, RESPONSIBILITJES The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law. The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each fmancial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: Select suitable accounting policies and then apply them consistently; Observe the methods and principles in the Charities SORP; Make judgements and estimales that are reasonable and pdent. State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial sLqtements; Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trnsfres are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 201 I, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. Th¢y are also responsible for saf¢guarding th¢ assets of the charity and hen¢¢ for taking reasonable steps for the prevenlion and detection of fraud and other irregularities. Mr. S.J. Twinn- Truste¢ Chairnian Mr. A.L. Ros¢- Tst¢£ On behalf of the Trustees Date Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HAWLEY ALMSHOUSE AND RELIEF IN NEED CHARITY I report on the financial statements of the Trust for the year ended 315t March 2024 which are set out on pages 6 to 10. Responsibilities and basis of report As the charity trnstees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examinalion I have followed all 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 confirni that no material matters have come to my attention in connection with the examination giving me cause to believe thal in any material respect: accounting records were not kept in respect of the Trust as required by section 130 of the Act: or 2. the accounts do not accord with those records: or 3. the accounts do not comply with the applicable requirem¢nts concerning the forni and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than ally requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I confinn that there are no other matters to which your attention should be drdwn to enable a proper und¢rstsnding of the accounts to be reached. Katharine Sarah Hardy Lightwater Accountants Limitcd 2 Quarry Bank Lightwater Surrey GU18 SPE Dafr.. 144ts 2oA* Page 5
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HAWLEY ALMSHOUSE AND RELIEF IN NEED CHARrrY ST BALANCE SHEET AS AT 31 MARCH 2024 NOTES 2024 2023 FIXED ASSETS Tangible Assets Investments 992,889 744 681 1,005,168 650610 1.737,570 1,655,778 CURRENT ASSETS Cash in Bank and in hand Debtors Investments 69,402 1,129 88,803 96,428 950 77,423 159,334 174,801 CREDITORS Amounts falling due within one year (2,607) (30,355) NET CURRENT ASSETS 156,727 144.446 NET ASSETS 1,894,297 1.800,224 FUNDS 2024 2023 ALMSHOUSE BRANCH Pern]anent Endowment Extraordinary Repair Fund Unrestricted Funds 367.179 19,861 168,132 369,251 18,522 164,909 555,172 552,682 RELIEF IN NEED BRANCH Pernianent Endowment Unrestricted Funds 886,013 801,249 41,200 927,213 842,449 HENRY RANDELL'S Pemianent Endowment Unrestricted Funds 318,597 325,345 79,748 411,912 405.093 1.894 297 1800,224 Approved by the Trustees on . and signed half by: Mr. S.J. T Inn- Trustee Chairman Mr. A.L. Rose- Page 7
HAWLEY ALMSHOUSE AND RELIEF IN NEED CHAIUTY NOTES TO THE ACCOUNTS YEAR ENDED 31sf MARCH 2024 ACCOUNTING POLICIES Basis of Aeeounting The f1nancial statements of the charity, which is a public b¢nefit entity under FRS102, have been prepared in accordance with the Charities SORP (FRS102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to chariti¢s preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRSI 02) (effective l January 2019)" Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 201 l. The financial statements have be¢n prepared under the historical cost convention. b) Ineome Income is derived from investments, maintenance charges to residents, and donations. Investments are in shares, securities and bank deposit accounts. Investment income is included in the accounting period in which it is receivable. All income is recognised in the Statemenl of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabtlities are recognised as expenditure &s wn as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of th¢ obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under h¢adings that aggregate all cost related to th¢ category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities OTr a basis consistent with the use of resources. d) Fixed Assets Freehold land and buildings are included in the fmancial statements at costlvaluation less depreciation on the actuallestimated cost of the freehold buildings at l 0/0 or 20/9 per annum. Land with an estimated cost of £1 00,000 has not been depreciated. Investments Investments are shown at market value at the Balance She¢t dat¢. They ar¢ held in accordance with the Trustees. powers. Debtors Debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid. Creditors Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Page 8
HAWLEY ALMSHOUSE AND RELIEF IN NEED CHARITY NOTES TO THE ACCOUNTS CONTINUED YEAR ENDED 31ST MARCH 2024 h) Fund aeeounting Unrestricted fimds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanations ofthe nature and purpose of each fund is included in the Report of the Trustees. RESOURCES EXPENDED Staff Costs Direet Costs Support Costs Depreciation Total 2023 Property Upkeep and Support Grants Investment Management Fees Independent Examiners Fees 43,651 126.163 3.715 19.521 193.050 188.963 6,512 6,512 15,400 10,850 16.030 15,400 1.200 1.200 1.200 TANGIBLE ASSETS Hawley Garden Cottages Garth Cottages Henry Randell's Total COSTIVALUATION At l April 2023 Additions At 31 March 2024 420.804 253,854 673.440 1,319 674 759 1,348,098 7,242 1355,340 426 727 253 854 DEPRECIATION At l April 2023 Charge for the Year At 31 March 2024 134,073 8,534 69,672 4,239 139,185 6,748 145 933 342,930 19,521 362,451 NET BOOK VALUE At 31 March 2024 284,120 179,943 528,826 992,889 At 31 March 2023 286731 184.182 534 255 .005 168 Page 9
HAWLEY ALMSHOUSE AND RELIEF IN NEED CHARITY NOTES TO THE ACCOUNTS CONTINUED YEAR ENDED 31- MARCH 2024 INVESTMENTS Market Value At l April 2023 AdditionslDispos*lsl Transfers Revaluations At 31 Mareh 2024 ALMSHOUSE BRANCH Pern]anent Endowment 68,791 (1.423) 11.534 78,902 Unrestrided Funds Extraordinary Repair Fund 8,632 (224) .493 9,901 77,423 (1,647) 13,027 88.803 RELIEF IP4 NEED BRANCH Pernianent Endowment 650.610 3.774 90,297 744,681 Unrestricted Funds 650,610 3,774 90,297 744,681 TOTAL 728,033 2,127 103,324 833,484 ALLOCATION OF NET ASSETS Fixed Property Asset Jnvestments Current Assets Creditors Inter- Fund Total ALMSHOUSE BRANCH Permaneni Endowment Extraordinary Repair Fund Unrestricted Funds 284.120 78,902 9,901 4,157 9,960 367.179 19,861 179,943 70,531 (2.607) (79.735) 168,132 RELIEF IN NEED BRAIYCH Pennanent Endowment Unrestricted Funds 744.681 141.332 41,200 886,013 41,200 HENRY RAIYDELL'S Pem]anent Endowment Unrestricted Funds 528.826 (210,229} 93,315 318,597 93,315 TOTAL 992,889 744.681 159,334 2.607 1,894,297 6. STAFF COSTS The average numb¢r of employees in th¢ y¢ar was two, and no employee earned more than £60,000. 7. RELA TED PARTY TRANSACTIONS During the y¢ar ended 31 March 2024. there were no lated party transactions. 8. TRUSTEES A small fee was raised by Mr. A.L. Rose during the year eT]ded 31 March 24 for his assistance with the collation of the charity's accounting records and budgets during the year. Otherwise. no Trustee received reilnbursed expenses during the year, nor remuneration or benefits. Page 10