LANGLEY MARISH UNITED CHARITIES FINANCIAL STATEMENTS FOR YEAR ENDING 31 MARCH 2023 Hemsley Miller Chartered Accountants Unit 3 Bradburys Court Lyon Road Harrow Middlesex HA12BY HCVISLEY1[',
LANGLEY MARISH UNITED CHARITIES CONTENTS Page Trustees Repcmt Accountants Report Stalernent of Fina181 ActitieS Balance Sheet Notes lo Ihe Accounls
LANGLEY MARISH UNITED CHARITIES TRUSTEES. ANNUAL REPORT The Trustees submit their Annual ReFK)rt logether wth the Accounls lor the year ended 31st March 2023 The TTuslees have adopted the proMsK)n5 Of ihe Chariles SORP {FRS 1021 ADMINISTRATIVE DETAILS Pantsl ol Trusiees. The persons ltsted $8rved on the Panel ol Trustees dunng the year.. Dr Ellzabeth J Campbg11 IChairp•rson}, Mrs Jos•phln• H*nnoy Ivice4halrpersonl. Mrs Maria A Challon. Mrs Dlana C Ill•r, Mr Mark Inston•. Mrs Angèla Klrk, Mr Raymond E A Lewis. Mr John Whltby. Secretary to the TfLtslees'. MrJohn S Lane Miss Jacqueline Greene (Resigned 31 March 20221 (From 1st April 20221 Registere¢J Offi¢e'. 44 St Marys Road. LaTrJley. sIJgh. SL3 7EL Bankers:. BarclayE Bank pk. 1 Queensmere Slough. 8erks SL1 1 DT COIF Charities Depx)sit Fund Senator House. 85 Queen victor Street London EC4V 4ET National Westminster Bank pl¢, 118 High street Slough. SL1 1JH Independeni Examiner'.- Hemsley Millei, Chartergd A¢¢ounlants. STRUCTURE, GOVERNANCE AND MANAGEMENT The Charities. origins can be Iraced back as lar as the ar 1617. The administration of the Charity is governed by a Scheme ol the Charity CommissM)n sealed on 29th June 1956 wth several amendments The SGheme stipulates Ihat cash not needed for immediate Wofking PLJfposes be invested under the authonly of ttrt Charity Commissioners in the name ol the Official Trustees ol Chantale Funds. The Scheme is entered in the Central Regislw of charib.es under rmjmbei 2tM824. arKI this Almshouse Charity is affilialed to (he Am$house Aswiation as numbeT 1Th). No borrowing reslrictions are pled on the Trustees. The conduct ol business has been deall with U)rough regular quarterly meetings, supplemented by additional. often one item. meetings as may be required lo deal w(h patlicular issues- including specific annIng lor the future. There has been a quorum al every ffleeting. Page 1
LANGLEY MARISH UNITED CHARITIES OBJECTIVES AND ACTIVITIES The Charity Commission Scheme requires that Ihe properties are maintained for the benefit ol qualifwng residents In addition, the Truslees a anxious that all properties are occupied thereby achieving the utmost Charitable Publi¢ Benefil. Dunng the year one property Was V8¢ant for a three rrK)nth period. but otherwse full occupancy vras athieved during the year. ACHIEVEMENT AND PERFORMANCE Works to the charitses properties are. whefe appropnale, carried out under the supemsion of an Architect chosen from the Almshouses Association panel of approved practitioners. This reco9nises that some ol the properties are Grade 2 Listed. Dunng ihe year It was not necessary lo carry out any signilicani works lo Ihe property'es. bul smaller Arrks of rèpair and maintenan¢e were carried out as 2nd when required. The Trus¢ees strive to ensure Ihat the hTrghest psIble $18ndar(l of accommodalion is maintained. FINANCIAL REVIEW The value of the charities investments lell. after a recovery in tho previous finan¢ial year. The Trustees continue lo monitor thè incomtr generattrd by Ihe investments and remain ol the view thal the income generated is salislactory, p3culaY il viefftd over a number of years. A subslantial review ol the linanoe5. both short and medium lerm. was undertaken. This revealed the potential ol income lagging behind the increasing cosls now being laced by rnany organisalions and individuals. As a resull Ihe decisKJn was laken to increase the weekly maintenance contributions from r*sthnls. vthilst Still keeping the rates lower than in the cornmercial world In addition, a review and subsequent restructure of st8ifing was undertaken and %thich takes ellecl from the 2023124 financial year. The savings that this wll generate, particularly from tho 2024125 finanual year will lurther ensure Ihat the finances are perfectly capable ol supporting the charity during the coming year and beyond. This Report is approved by the Twstees and signed on Iheir behalf by:" AS k7r Slgn Sign Josephine Hanney Angela Kirk Name Nam• Nov 20, 2023 Nov 20. 2023 Pago 2
LANGLEY MARISH LINITED CHARMÈS
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ¥ARCN 2023
INDEPENDENT EXAMINER'S REPORT TOThE YRUSYEÉS OF LAIIGLEY
VNITED CHARITIES
I rryortkjtdrtyTtry1es xcotsitsc4 the Chmftc
LANGLEY MARISH UNITED CHARMES STATEMENT OF FINANCIAL ACTMTIES tor thfr èndod 31$L Mar¢h 2023 Unr4sirkW Funds General Extraordirbary Fw R•pair FutHI Rastrkiod Totsi Funds Total Fund5 Fund 2023 2022 INCOMING RESOURCES Incoming wourtol Ir(¥n oener4ied fvr Donaiions Rent re¢eived Dividends re¢ei¥ed Iniartsl received 600 35,B19 478 600 40,276 21 35.560 478 259 Incomlng resources IrL¥n Charitab activ6t 115.053 115.Q$3 100,751 Olh•r Incomlnq rnwJY¢• Sundry Ineom 437 TOTAL INCOMING RESOURCES 151.191 25 151.950 142.085 RESOURCES EXPENDEO Chalilab Acts¥illaS E¥p6ndnure 115.027 110.027 120.173 GoveTnanc• Costs 34M35 34,433 14.081 TOTAL RESOURCES EXPENDED 149.462 149,462 134.254 NÈT INCOM114G AESOUACES beforn TRW4SFEAS 2329 2,418 7.831 SBle of Inve51menls PJi¢h•s• of Invesimeni$ Tian51er lo Exiraordinary RepBIF Ftmd Rft41ricted dwiderbd Ine.(]mp l¥ansfÈr 2,OOQ 2,0001 2.CQO 12.WOI 1,$72 IA31 NET INCOMING RESOURCES for THE YEAR 2.488 7.831 TRANSFER BETEN FUNOS OTHER RECOGNISEO GNSIL0$SES Realised Unre1 gainj orn1 k*wson Inveslmeni assets CAP aquired from LCHE Chanty 145,757} 2N39 1332 144.0501 112.267 NET MOVEMENT IN FLINOS Èxiraordifiary Fund Repairs Balan¢•bmvghl forward 1.621279 175.579 13.518 1.810.275 1.690,278 Balaneo¢¥rii8d Ityw8¢d 1.574.179 q79.618 16.017 1.768.813 1.810.375 Pagè 4
LANGLEY MARISH UNITED CHARITIES BALANCE SHEEf as at 31st Marth 2023 2023 2022 Nole FIXED ASSETS- Investments 1,362,114 1,404, 163 Investment Proportles 5.410.000 5.410.000 CURRENT ASSETS Prepayments Cash at bank 1.306 82,632 83.938 1.563 88.544 90,107 CURRENT LIABILITIES Amounts falllng due within one Sundry creditors and acuuals 12.1591 {8.8941 Not currènt ass•ts 81,779 81,293 NET ASSETS EMPLOYED 6,863.893 6,895.456 Unr8Stricled General Fur Extraordinary Repair Fund Restricted Fund Revaluation Account 1,574.179 179,618 15,017 5,085,079 1,621,280 175.579 13.518 5,085,079 FUNDS EMPLOYED 6,853.893 6,895,456 Approved by Ihe Truslees and suned on th&ir bohaif by:" JM Slgn Slgn Josephine Hanney Angela KiFk Namè Name Date Nov 20. 2023 Daté Nov 20. 2023 Pagè 5
LANGLEY MARISH UNITED CHARITIES NOTES TO THE ACCOUNTS lor tho ar ènijtd 31st March 2023 ACCOUNTING POLICIES ACCOUNTING BASIS The accounts have ten prepared under Ihe hist11)5t athj the r8quirem&nls ol the Chart5 SORP IFRS 1021. INCOklE RECOGNITION I Incotne Is recognised once the Charity ha5 entsIrren1 lo e incoft. il Is ptobable Ihal Ihe irKome ¥4ill be received and the amwni ofin¢m re¢wae Can btr Thèasurgd rdiably Incorne lax recnv8ratrAe ithotk)n 10 Inv•sbThni Is reL¥V al Ihe bme the mvestmenl IfKome 15 rei¥9b. EXPENDITLIRE Expenditure 15 recogTh58d once Ihere k5 8 Wl or kntransf•rerKrfKffi benefit 10 a Ihiid party. Il Is probabk that a Iransfer ol erA)nomK b2nefils be requ•d In selllemeni and Ihe &moJni ol the oblvJalwJn can be measured reliabty Expen(lw• Is dasfied by activity. The ¢osis of each a¢uwly ale rnade up of Ihe loral of direct costs arkl shar•J Including suppoil costs Invdvèd In undertakirvj aGts¥ty Direcl msls altriwble 8 WVJ activy are alkncaled directty lo thal a¢tNIty Shared costs )11¥J more th One activity support costs ale rnl attritrA51able Io a SAr¥ aVity 8PWrtKxd bts1¥ il aElivilie5 on a basis cwslenl wlh the use ol r•sOw. C•nwal $tsN costs are aHted basis ol time spenl, and depiecialion charges alknGated on Ihe pt of thg •wi's use. ExpendiluTe on chantatAe act4vilS Is xINed on (ecUy the aClMM8 lurther the Charity'5 obieclives. as ¥11 as a¥soGkqled supwrt o)$18. All expandiluie Is In¢lu51ve o11ritcov8rablè VAT. REPAIRS •Trd MAINTENANCE The Chaflly has t$448h•d a regvLgt pitytamm ol Cycl repairF Mterr• Cosis are charged 10 R•swrc•s Expfrnd in Ihe 81 It) they • ITh). EXTRAORDINARY ftePWR FUt40 R8presen16 amounts set aside foi the exliaDrdirbary repair. ¥nprw•Thnl or ifjbuddi of Ihe alrnshcuses 11 Is provthd by the Tntr51eeJ marj gn Investrn1 e¥h )wr Inio ccumu1nn shares In The Nalkin¥ c• CffftTh)n Inve51menl Fund. AccumuLilbJn shale5 May be sold al dxrewjn of the twoe8 and the proceeds Gredited lo gener luTrJ. INTEREST RECEIVABLE Inleresl on lund5 hej on deposrt 15 iruded when receNae and the amrn1 can be wa$ur•d reliably by the Chaiily. th15 Is wrmally noknfulK)Trof the Inwesl paid or payable by th8 irolilulion vAlh om ihe tur$ are dow%ted. INVESTMENTS Fixed asset InveslmeTrls are a form of Iinaro•l mslrumeni and are #i trir Ilansacknon ¢o$t and subsequenlty measured ai lair ai tr 8aL8rtt date. vnloss tt value cannot be measured reliably In case il is r(aswed ai cosi impairmeni. Inves¢mtrni gains and losses. wheiher reaknsed ¢r wrlsed. we COMb¢d aThJ weseTr18d as'Gaw%llLosses1 on In¥tmen1$. n ihe Sment ol FirrKkg1 ArAivit¥. FixeD ASSETS IDvB$trnenls and 1nvsy1tnl Pr¢JFw1*S ate at matket vaue at the LthrKe &heet dale. Pagt 6
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