CHARITY REGISTRATION NUMBER: 20J021 THE STOCKTON ALMSHOUSES Unaudited Financial Statements 31 December 2023 DIANA MILLER FCA Chartered accountants 3 Newopaul Way Warminster Wiltshire BA12 8RY OB NSON MILLER
THE STOCKTON ALMSHOUSES Financial Statements Year ended 31 December 2023 Page Trustees, annual report Independent examine.r's report lo the trustees Statement of financial activities Statement of financial position Notes to the financial slalemenls 10
THE STOCKTON ALMSHOUSES Trustees. Annual Report Year ended 31 December 2023 The Iruslees present Iheir report and the unaudited financial slalemenls of the charity for Ihe year ended 31 December 2023. Reference and administratlve details Registered charity name THE STOCKTON ALMSHOUSES Charity regislration number 205021 Principal office Longhall Slocklon Warmiiisler Willshire 8A12 OSE The trustees Mr M Steel Mr S James Mr Plows Mr Ashton Mr Cook Ms T Rickerby (Appointed 19 March 20241 (Appointed 19 March 20241 (Resigned 31 December 2023) (Resigned 16 February 20241 Independent examiner Diana Miller Robinson Miller 3 Newopaul Way Warminsler Willshire BA12 8RY
THE STOCKTON ALMSHOUSES Trustees. Annual Report Iconlintied) Year ended 31 Decernber 2023 stru¢ture, governance and management Details of the Governing Document The Tru51 Depd founded by the will of John Topping the Flder proved in 1641. The Charity is riStere[S with the Charily Commission No. 2115021. Organisalion Trustees The body ol Trustees shall consist of", Two Ex-officio Trustees and Three Co-operalive Trustees The Ex-officio Trustees are., The Rector of the Parish of st.mary the Virgin and St Peter, Codlord. The Rector of the Parish of Sl.John the Baplisl, Slocklon. The following Iruslees havts served during the year., Co-opled-appoinled 27th September 2022 Co-opled-resigned 16th February 2024 Co-opted- resigned 31 sl December 2023 Co-opted -appointed 19th March 2024 Co-opted -appointed 19th March 2024 Ex-officio T Rickerby (Chairman) -PCook D J Ashton M Steel - S James J Plows All new Iruslees are provided with Charities Commission guidance on being a Iruslee and go through an induction process. Activity The Charity continues lo provide low-cost housing for the elderly of limited means. Reserves {al Restricted Funds The W.T.Topp fund is restricted with the income from the capital invested lo be distributed annually lo the residents of the Almshouses. The Emilie Gay fund is reslricled with the income from the capital also being invested lo be distributed eoually between the residents of the Almshouses. In the accounts the re51rieled incorne is then effectively donated lo the ocoupanls of the Almshouses, this is shown as an inGrease in the income contributions from residenls and an expense showing as a donation lo the residents.
THE STOCKTON ALMSHOUSES Trustees. AnnLAal Report (Gonliniiod) Year ended 31 December 2023 Ibl Unrestri¢ted Funds These are held in furtherance of the Charills objectives al the discretion of the Triislees. Annual investments are made in respect ol extraordinary repairs, Gyclity¢il maintenance obligations and roiiline rviainlen2nce budgel in accordance with the invpslmenls policy published by the Almshouse AssJcialion. History and Background The land on whic.h the Alrnshouses are silualed arp 1.88 acres in the villaoe of Slocklon, Willshire. 11 has a Ironlage of 200 reel onlo Almshouse Road wilh the building known as Slocklon Almshouse5 logelher with the <l(lj(iiiiirig orLhai-d. The Cliarily was founded by John Topp The Elder in 1641 who was a resicsenl in Slocklon House. a Grade fj listed counlry house in the village. The Almshouses were built in 1657 by the Topp family. 'fhe Iwo-slorey dwellings are built in rubble slonp with bands of dressed limestone, and wings added in 1714 provide.d Iwo more dwellings. There are now A total of six dwellings which are grade11 listed. Rlsk Management Assessment All major risks lo which the Charity is exposed are reviewed by the Trustees and systems established lo miligale Ihose risks. Reserves Poll¢y The Trustee's primary objective is to provide appropriate resources lo enable the Charity's beneficiaries lo be well cared for and supported in the CiTcumslances in which they find themselves. The Board has established, by way of a transfer from the Unrestricted Fund in line with the guidance from the Almshouse Association £13,86612022 £13.8661 (which can be broken down lo.. £3,684 12022 £3,684) lo the Exlraordinary Repair Fund. £6,024 {2022 £6,024) lo the Cyclical Maintenance Fund and £4,158 12022 £4,158) lo the Routine Maintenance Fund, Designated Funds lo provide for future repairs and maintenance in the following funds.. £8,499 {£22,038 - 20221 in the Extraordinary Repair Fund £53,9101£46,977 - 20221 in tho Cy¢li¢al maintenan Fund £6.043 {£7,558 - 20221 in the Routine Maintenance Fund The Extraordinary Repair Fund has reduced in the year due lo the finalisalion of oosl relating lo the inslallalion of secoridary double glazing in the year 2nd replaoemenl of limber doors, lo assisl the residents in keeping warm and secure over the winter months. The Charity has a regular income stream from the weekly management charges and monthly field rent. 11 is the Trustees view that al least one month of normal expenditurè should be maintained in readily available cash reserves. This should amount to no less than £10.000. being the maximum expected expenditure in any one month. Investment Poll¢y The Board continues to invest The Slocklon Almshouses Capital and designated funds in a balance of Cash, equity and property funds. No changes were made in the investment holdings during the year. The Trustees periodically review the inve51menls lo ensure they meet with the Charllles
THE STOCKTON ALMSHOUSES Trustees, Annual Report Icofitiniiedl Year ended 31 December 2023 objeclives. A full review of the Charibes Investments took place in 2021 to ensure the lunds were invested in Ihe best way lo support the Charilies objeclives as well as ensuring the inveslmenls are made in an ethical and sustainable way. Some inveslmenls were sold and re-invested as parl of the reslruclure, fi)Ilowing the revicw in 2022. The inveslmp.nls have increa%&d in value during 2023, recove.ring %umewhal from the general downturn in the financial mcirk&l8 durino 2022. The charity does not anli(.'iPdte the need lo rea1ise any reduclions in Ihe shori to mediiim term and, consequently. will keep Ihp i)orllolio under review willi the assislance of the chartei.ed Findnci21 Planners retained lo advise Ilie org<iiiisalion. Trustèes. Responsibilities Statement The Iru8lpe is responsihle for preparing the Trustee. Report and Ihe financial slalemenls in accordance with applicable laws and regulations. Charity law requires the I'ruslee lo prepare finanLial slalemen15 for each financial year. Under charily law the Trustee musl nol approve the linaiiGl<il slalemenls unless they are satisfied Ihal they give a true and fair view of the stale ol affairs ol the ¢harily and of the incominq resources and application of resources, including the income and expenditure,of the charity for Ihal period. In preparing these financial %lalemenls, the Trustee is required lo.. select suitable accounting policies and then apply them ¢onsislenlly', observe the methods and principles in the Charities SORP., make judgements and eslimales that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed", and prepare the financial slalemenls on the going concern basis unless it is inappropriate lo presume that the charity will continue in business. The Trustee is responsible for keeping adequate accounting records that are sufficient lo show and explain Ihe charills transactions and disclose with reasonable accuracy al any lime the finanoi81 position of the charity and enable them lo ensure Ihal the financial slalemenls Comply with the Charities Act 2011 and Charity Accounting and Reporting regulations 2008. 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. The Trustee is responsible for the maintenance and inlegrily of the charity and financial informalion included on the charily's website in accordance with legislalion in the United Kingdom governing Ihe preparation and dissemination of the financial slalemenls.
THE STOCKTON ALMSHOUSES Trustees, Annual Report Iconrsnued) Year ended 31 December 2023 Objectives and activities Objectives To provide low-cosl housing lor the eldgrly of limited mcans. Activity The Gharily continues lo provide low-cosl housing lor the elderly of limited means. l-he Trust Deed SIipLJldles that the Almspeople musl be a needy person and miisl be not less Ihan 60 years of age and of go()d Lharaclcr who may be 8 married persons residing in the Parishes of Codlord and Slo¢klon and subjeLI Iherelo the county of Wiltshire, in order lo be eligible fur residii)g in the dwcllings. Almspeople are required lo conlribule 8 weekly sum towards the cosl of maintaining the Almshouses and services therein. Achievements and performance Public Benefit The Trustees have reviewed the Charities Commission's guidance on the requirement lo report on public benefil. The Board is satisfied that the work of The Stockton Almshouses, in accordance with ils slated objectives provide5 18ngible public benefit lo a wide section of those who reside within The Stockton Almshouses's areas ol benefit". the criteria used lo assess those who may benefit are not unreasonably reslriclive. Flnancial review Finances The accounts are produced under the Stalemelll of Recommended Praclice for charities. The attached financial statements show the ¢urrénl slate of finan¢es which the Trustees consider sound. PSans for future periods Our plans on objectives for the year ahead are to.. Ensure we remain al full o¢¢upalion To keep up the maintenance schedule and update the 5 year plan. To continue lo maintain Ihe welfare and salislaclion of the residents. To continue lo review all policies and pmcedures. To ensure investment review recommendation are carried out. To undertake work lo improve energy efficiency lo assist with rising costs of living.
THE STOCKTON ALMSHOUSES Trustees, Annual Report (contlnutr£ll Year ended 31 December 2023 The IrLislees' annual report was approved on 10 June 2024 and signed on hehalf ol the board of trustees by.. Ms T Rickerby Trustee
THE STOCKTON ALMSHOUSES Independent Examiner's Report to the Trustees of THE STOCKTON ALMSHOUSES Year ended 31 December 2023 report lo the Iruslees on my examination of the financial slatemenls of THE s'focKTON ALMSHOUSES I'lhe eharilll lor the year ended 31 December 2023. Respoiisibilities and basis of report As the Iruslees of Ilie charity you are responsible for the preparaliun ol the financial slalem&nls in accoi'dance with the requirements ol the Charilies Acl 20111'lhe AGI'I. I I"eporl in respect ol my examination of the charity's linEJnCil¢ I statertienls carried out under section 14. ol the 2011 Atyl and in carr5ring out my examination I have followed all the applicable DireGlionb giver) by the Charily Commission Linder seclion 14515llbl of the AGI. Independent examiner's statement I have Completed my examination. I confirm that no material mallers have come lo my all&nlion in oonnecli(In wilh Ihe examination giving me cause lo believe Ihal in any material respect". accounting records were not kept in respect of the charity as required by section 130 of the Act., or the financial slalements do not accord with those records.. or the finan¢ia5 slatemenls do not comply wlh the applicable requirements concerning the form and conlenl of a¢counls sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and f<iirf view which is not a maller considered as part of an independent examination. I have no concerns and have come across no other mallers in Connection with the examination lo which allenlion should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Diana Miller Robinson Miller Independent Examiner 3 Newopaul Way Warminster Willshire BA12 8RY l O June 2024
THE STOCKTON ALMSHOUSES statement of Financial Activities Year ended 31 December 2023 2023 Restricted funds Total funds 2022 Unreslricled funds Total funds Note Income and endowments Charitable activities Investment income 32,012 4,148 32,012 4,791 31,564 3,179 642 Total income 36.160 642 34.743 Expenditure Expeiidilure on raising lunds.. Costs of raising donalions and legacies Investment management costs Expe.ndilure on charitabl& activities Total expenditurè 620 22 620 362 37,096 612 321 27,577 339 37,096 37,435 642 38.078 28,510 Net gainslllossesl on investments 10 6,472 1,894 8,366 18,853) Net incomel{expenditurel 5,197 1.894 7.091 12.6201 Other recognised gains and losses Other gainslllossesk Emilie Gay Fund Other gainslllossesl- W T Topp Fund Net movement in funds {2,3991 13891 15,4081 5,197 1,894 7,091 Reconciliation of funds Tolal funds brought forward Total funds carried forward 239.316 21.250 260,566 265,974 244,513 23.144 267,657 260,566 The slalemenl of financial activitiès includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. The notes on pages 10 to 22 form part of these financial statements.
THE STOCKTON ALMSHOUSES statement of Financial Position 31 December 2023 2023 2022 Note Fixed assets Taiigible fixed assets Heritage &Jssets Investments 540 636 16 17 149,083 149,623 138,710 139,347 Current assets Stock% Debtors Cash al bank and in hand 18 19 900 1.410 118.410 532 6,938 127.216 120,720 134,686 Creditors: amounts falling due within one year Net current assets 20 2,686 13,467 118,034 121,219 Total assets less current Ilabilities 267,657 267.657 260,566 260.566 Net assets Funds of the charity Rpslricled funds (Inrestricled funds 23,144 244,513 21,250 239,316 Total charity funds 21 267.657 280,566 These financial slalemenls were approved by the board of trustees and aulhorised for issue on 10 June 2024, and are signed on behalf of the board by.. Ms T Rickerby Trustee The notes on pages 10 to 22 form part of these financTal statements.
THE STOCKTON ALMSHOUSES Notes to the Financial Statements Year ended 31 December 2023 General information The ¢harily is a public benefil enlily and a registered charity in England and Wales and is uninci)rporaled. The address of the principal Offi is Lnngl)all, SIoGklnn, Warminslei., Willshire. BA12 OSE. Statement of compliance These financial statements have been prepare(5 in compliance with FRS 10?, 'The Financial Reporting Slanddrd applicable in the UK and the Republic of Ireland,, Ihe Statement of Recommended PraLlice applicable lo chdrilies preparing Ilieir accounls in accord¢iiice with the inancial Reportiiig Slandard applicable in the Ul< and Republic ol Ireland IFRS 1021 Icharilitss SORP {FRS 10211 and the Charities Act 2011. Accounting policies Vallie added tax The Charity is not registered lor Value Added Tax IVATI and is therefore not recoverable by Ihe charily and expenditure is shown in the a¢¢ounts inclusive of VAT. Basi5 of preparatlon The financial slalemenls are being prepared on a going concern basis, under the hislarical cost convention as modified by the revaluation of certain fixed assets. The financial slalements are prepared in Sterling which is the functional currency ol the entity. Monetary amounts are rounded lo the nearest pound. The financial slalemenls have been prepared in accordance with Accounlino and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102lleffe¢iive 1 January 20151 Icharilies SORP IFRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS10218nd the Charilies Act 20112nd UK Generdlly Accepted Accounting Practice. The Stockton Almshouses Charity meels Ihe definition of public benefit entity under FRS 102. Going concern There are no material un¢ertainlies about the charitls ability lo ¢onlinLte. Disclosure exemptions The entity salisfias the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102.. lal No cash flow slalement has been presented for the company. Ib} Disclosures in respect of financial instruments have not been presented. io
THE STOCKTON ALMSHOUSES Notes to the Financial Statements (¢oFylifriued) Year ended 31 December 2023 Accounting policies Iconfinuedl Judgements and key sources of estimation uiicertainty The pi"eparalion ol the financial slalemenls requires managpmenl lo mal<e judgernenls, estimates and assumptions Ihal alfecl the <)mounls I"eporLed. These estimates dnd judgements ale conlinijally reviewed and are based on &xperieiice aiid olhor factors, including expectalioiis of future events th21 are believed lo be ieasoncjble under the circunislanees. Fund accounting UnreslriGled funds are avdilable for use at the discretion ol Ihe Iruslees lo lurll)er any of the charity's purposes. Design<iled fund5 are unreslricled funds earmarked by the trustees for partirular future projecl or commilfnenl. Reslricled funds are subjected lo reslriclions on their expenditure declared by the donor or through the lerrns ol an appeal, and fall into one of Iwo sub-classes.. reslricled income funds or endowment funds. Incoming resources All incoming resources are included in the slalemenl of financi81 activities when enlillemenl has passed lo the charity., it is probable that the economi¢ benefits associated with the Ir8n5action will flow lo the charity and the arnounl can be reliably measured. Th& following specific policies are applied lo particular categories of income.. income from donations or grants is recognised when ihere is evidence of enli11emenl lo the gift, receipt is probable and ils amount can be measured reliably. legacy income is recognised when receipt is probable and enlillemenl is established. incom6 from donated goods is me8sured al the fair value of the goods unless this Is impractical lo measure reliably, in which case the value is derived from the ¢osl lo the donor or the eslimated resale value. Donated facilities and services are recognised in the accounts when received if the Vdlue Can be reliably measured. No amounts are included for the conlribulion of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted servi. This is classified as unreslricled funds unless there is a conlraclual requirement for il lo be spent on a particular purpose and relLJrned if unspent. in which case Il may be regarded as reslricled. 11
THE STOCKTON ALMSHOUSES Notes to the Financial Statements (¢oiilinuedl Year ended 31 December 2023 AGGounting policiÈs fcontinued} Resources expended Expenditure is recognised i)n an accrLl8ls basis as a liability 1% incuri'ed. Expenditure incliides dny VAT whii-h cannot be Iijlly recovered, and is classiliecl under headings ol the slalemenl of linaiicial activities lo wlii¢h il relates-. expendiluie on raising funds in¢ludes the costs uf dll fundraising a¢livilies, events. non- ¢harit8ble Irading aclivilies, and Ihe sale of donated goi)ds. expenditure on charitable a¢livilies includes all ¢osls incurred by a charily in underiaking activities Ihal lurllier ils charilable aims lor Ilip bEnelil ol ils beneficiaries, IllGluding those support cosls and costs relating lo the governance of the charily apportioned lo charitable aclivilies. other expendilure includes all expenditure Ihal is neither relaled lo raisin9 lunds for the charity nor part of ils expenditure on charitable aclivilies. All costs ale (Illocaled lo expenditure categories reflecting the use of the resource. Direct costs allribulable lo a single activity are allocated directly lo that aclivily. Shared costs are apportioned between the activities they Contribute lo on a reasonable. justifiable and consislenl basis. Tangible assets Tangible assets are initially recorded al cost, and subsequently slated al cost less any accumulated depreGialion and impairment losses. Any langible assels Carried al revalued amounts are recorded al the fair value al the dale of revaluation less any subsequent accumulated depreciation and subsequent accumulaled impairment losses. An increase in Ihe carrying amount ol an asset as a result of a revaluation, is recognised in olher reoognised gains and losses, unless il reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial aclivilies. A decreasg in Ihe carrying amount of an asset as a result of revaluation. is recognised in other recognised gains and losses, except to which il offsets any previous revaluation gain, in whiGh case the loss is shown within other recognised gains and losses on the statement of financial aclivilies. Depreciation Deprecialion is calculated so as lo write off Ihe cost or valuation of an asset, less its residual value, over the useful economic life of Ihal asset as follows.. Fixtures and fillings Mains Water Connection fj5Q/o reducing balance 15.kn reducing balance
THE STOCKTON ALMSHOUSES Notes to the Financial Statements (conlinued) Year ended 31 December 2023 Accounting policies Iconflnuedl Heritage assets The Alm%houses were built in 1657 and, uridei" the Srheme eslablislied by Ihe Charity Commissioners on 31st aclobor 1977, Ihey c.tiri only he used lor the residence of almspeople. They are. Iherefore, inalienablo. The Truslep% consicler il inappropriate lo capilalisp huildiiig.s al cost, which is unknown, or al tnarkel value. ds Iliere is none. As Ihe irilorinalion on Ilie eosl or value of the Almshouses is not availablp and cannot be obtained al a cn81 which is commensijrale with the benefits lo useis ol the linancidl slalemenls, the asset shall be recoqnised in the slaleinenl of financial posiliofl al a nominal £1 Under Ihe Charity C&ufTimissioners Schetne the TrLislep.8 are obligod to insure the properly al its full value againsl lire and other usual risks. As al 31 December 2020 the Alrnsl)ouses and contents belonging lo the Trusl&es were insured for £1,3Q6,26312022 - £1,306.263). Investments Unlisted equity investments are initially recorded al Cost, and sub%equenlly measured al f<iir value. If fair value Cannot be reliably measured, assels are measured al cost less impairment. Listed Investmen are measured al fair value with changes in fair value being recognised in income or expenditure. Investments in associates Investments in associates accounted for in accordance with the cost model are recorded al cost less any acGumulaled impairment losses. Investments in assotiiales accounted lor in accordance with the lair value model are initially recorded at the transaction price. Al each reporting dale, the investments are measured al fair value. with changes in fair value taken through incomÈ or expenditure. Where il is impracticable lo measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other dislribulions received from the investment are recognised as incorlle wilhoul regard lo whether the distributions are from accumulated profits of the associate arising before or after the dale of a¢quisilion. Investments in joint v8ntures Investments in jointly controlled enlilies accounted for in accordance with the cost model are recorded al cost less any accumulaled impairment losses. Investments in jointly controlled enlilies accounted for in accordance with the lair valu8 model are initially recorded al the transaction price. Al each reporting dale, the inveslmenls are measured al fair value. with changes in fair value laken through income or expenditure. Where il is impracticable to measure fair value reliably without undue cost or effort, Ihe cost model will be adopted. Dividends and other distributions received from the inveslmenl are recognised as income without regard lo whether the dislribulions are from accumulated profits of the joint venture arising before or afler the csate of acquisition. 13
THE STOCKTON ALMSHOUSES Notes to the Financial Statements (Gonlinued) Year ended 31 December 2023 Accounting policie5 (eonliiiuedl Impairment of fixed assels A review for indicaloi's ol imp1ii.menl is carried out al each repoi'ling dale, with Ihv. recoverable amount being eslimaled whei'tt sucli indicators exist. Whei'e the cari'ying valiie fxLeeds the recoverdble amount, the asset is impaired accordingly. Prior impairments are 1r Iso reviewed lor possible reversal al each reporting dale. Foi 11)e purposes of impaii"ttient lesling, when il is not possible lo eslimalp the recoverable amount of an individLial 3ssel, an eslimale is made ol the recoverable amounl ol the cash- generating unil lo whicli Ihp asset belongs. The cash-generalinq unil is the smallest idenliliable group ol assets that inrlijdets Ilie asset and genorales cash inflows Ihal largely iiidependent of the cash inflows from other <i%sels or groups ol assets. For impairment lesling of goodwill. the goodwill ar,qiiired in a business combinalion is, from the acqiiisition dale, allocated lo each of the cash-generaling units that ai"e expected lo benefit Irom the synerqies of the combination, irrespective ol whether other assets or liabilities of the charity are assigned lo those units. stocks stocks are measured at the lower of cost and estimated selling price less costs lo completé and sell. Cost includes all costs ol purchase, costs of conversion and other costs incurred in bringing the stock lo ils present location and Gondilion. Financial instruments A financial asset or a financial liabilily is recognised only when the charity becomes a party lo the conlraGlual provisions of the instrument. Basic financial instruments are ini11211y recogniséd at the amount receivable or payable including any related transaction costs. Current assets and Current liabilities are subsequently measured al the cash or other consideration expected lo be paid or received and not discounted. Debt instruments are subsequently measured al amortised cost. Where investments in shares are publicly traded or their fair value Can otherwise be measured reliably, the investment is subsequently measured al fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial inslrumenls, including derivatives. are initially recognised at fair value, unless payment for an asset is deferred beyond normal business lemis or financed al a rale of interest Ihal is not a market rate, in which case the asset is tneasured al the present value of the future payments discounted al a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured al fair value, with any changes recognised in the slal@ment of financial activities, with the exception of hedging instruments in 8 designated hedging relationship. 14
THE STOCKTON ALMSHOUSES Notes to the Financial Statements (Gontlnued) Year ended 31 December 2023 AcGoiinting policies (Gonllnued) Financial instruments Icontiiiuedl Financial assets IhAI are measured al c051111' Amorlised cost are revipwed for obj?.r.live evid&nce of impairrnenl al Ilie pnd ol e8oh reporting ddte. If Ihere 1% objective vvidence ol iinpdii'menl, 8n impairillenl loss is I'ecognised under the dppropriale heading in the slalemenl ol financial activities in which the inilial gain was recogni%ed. For all equity instruments regardless of significance, and other financial ¢J4sels that are individually signili¢<iril, Iheso are assessed individually far impairmenl. Other linariLial assets are either ossessed individually or grouped on the basis of similar credit risk characle.rislics. Any reversals of impairment are recoqnised immedicilely, lo the exlenl that Ilie reversal drJp.s not result in a carrying amount lll Ihp f1nancial asset that exceeds what the carrying amount wauld have been had the impairmenl not previously been recognised. Charitable activities Unrestricted Total Funds Unreslricled Toial Funds Funds 2023 Funds 2022 Contributions from residents Contributions from field rent 31,532 480 31,532 480 31,084 480 31,084 480 32,012 32,012 31,564 31,564 lllvestment income Unreslricled Funds Reslricled Total Funds Funds 2023 Income from listed investments Bank interest receivable 2.531 1.617 642 3,174 1,617 4,791 4,148 642 Unrestricted Funds Reslricled Total Funds Funds 2022 Income from listed investments Bank interest receivable 2,224 343 612 2,836 343 2,567 612 3,179 Costs of raising donations and legacies Reslricled Total Funds Funds 2023 Reslricted Total Funds Funds 2022 Costs of raising donations and legacies Donations 620 620 612 612 15
THE STOCKTON ALMSHOUSES Notes to the Financial Statements IcoFylii?ued) Year ended 31 December 2023 Investment management costs Unreslricled Funds Reslri¢led Total Funds Fiinds 2023 Portfolio manageinenl 339 22 362 Unreslricled Funds Reslricled Total Funds 202.2 Portlolio management 301 20 321 Expendlture on charitable acllvllles by fund type Unreslriclpd Total Funds Unreslricled Total Funds 2023 Fund5 2022 Charitable Activilies-Provision ol Almshouses Support costs 35,406 1,69a 35,406 1,690 25,152 2,425 25,152 2,425 37,096 37,096 27,577 27,577 Expenditure on charitable activities by activity type Activities undertaken directly Support Cosis Total funds 2023 Total fund 2022 Charitable Aclivilies-Provision of Almshouses Governance cosls 35.406 35.406 1.690 25,152 2,425 1,690 35.406 1,690 37,096 27,577 10. Net gainslllossesl on investments Unreslricled Funds Reslricled Total Funds Funcss 2023 Gainslllossesl on listed investments 6,472 1,894 8,366 Unreslricled Funds Reslricled Total Funds Funds 2022 Gainslllossesl on listed investments 18,8531 18,8531 16
THE STOCKTON ALMSHOUSES Notes to the Financial Statements Icoi?litJued) Year ended 31 December 2023 11. Net incomellexpenditurèl Nel incomellexpendilurel is slated aller chargingllcredilingl.. 2023 Deprecialion ol tangible fixed a5sels 96 112 12. Independent examination fee5 2023 2022 Fees payable lo the independent examiner for.. Independent examinaliun ol the financial slalemenls 1,250 1,200 13. Staff costs The average head count of ernployees during the year was Nil12022'. Nill. No employee received employee benefits of more than £60.000 during the year12022.. Nill. 14. Trustee remuneration and expensès Trustee Remuneration No remuneration or other benefits from 8mploymenl with the charity or a related enlily w&re received by the Iruslees. 15. Tangible fixed assets Fixtures and Mains Water Connection Total Cost At 1 JanLsary 2023 and 31 December 2023 Depreciation Al 1 January 2023 Charge for the year At 31 December 2023 5.196 7.112 12,308 5,034 25 6,638 71 11,672 96 5,059 6,709 11,768 Carrying amount At 31 December 2023 137 403 540 At 31 December 2022 162 474 636 16. Heritage assets The building known as The Alrnshouse, Slocklon, Warminsler. Willshire, BA12 OSH. Can only be used as almshouses for the accomodalion of residents in furtherance of the Charity's objects. This freehold property was constructed in 1657 and whilst il is currently being used as an almshouse, il is a grade I, listed and therefore h&$ heritage qualities.
THE STOCKTON ALMSHOUSES Notes to tlie Financial Statements (coiilinued) Year ended 31 December 2023 16. Heritage assets (coitllnued) Stockton Almshouses Cost or valuation At l January 2023 and 31 December 2023 AccLimulaled depreciation At l January 2023 and 31 December 2023 Carrying amount At 31 December 2023 Al 31 Dember 2022 The Iruslees regard il as a heritage asset wilhin the scope ol paragraph 18.11 of the Charities SORP. The building which has a nominal hisloric cost of £1 coiisisls of 6 self contained residential units. The asset is not depreciated FRS102 as il 1% deemed lo have an indefinite lifespan. 11 is the Charills piacliGe to maintain this a5sel in a continual slate of sound repair and lo make improvements Iherelo from lime lo time and ac,cordingly the Trustees consider that Ihe value is not impaired by the passage of lime. 17. Investments Cash or cash Listed equivalents investments Total Cost or valuation Al 1 January 2023 Additions Fair value movements 34,994 1,534 103,716 486 8,352 138,710 2,020 8,352 At 31 DècÈmber 2023 36.528 112,554 149,082 Impairment At 1 January 2023 and 31 December 2023 Carrying amount At 31 December 2023 36,528 112,554 103.716 149,082 At 31 December 2022 34,994 fj38.710 Al investments shown above are held al valuation. 18
THE STOCKTON ALMSHOUSES Notes to the Financial Statements Iconliiiuedl Year ended 31 December 2023 17. Invèstments (conlii?uedl Flnancial assets held at fair value Inveslmpnls are a form of a basic lin<incial inslruinenl and ai"e initially rec.ognised al Iheir Iransaclinn Vdlue and subsequently me¢lSUI'ed al their f¢?ir value al the balance sheet date using Ihe quolpd market price. The slalemp.nl of Financial ALlivilies Inrlude% those LJnreali%pd gaiiis and losses Ai'isiiig fi.om Ilie revaluation <if Ihe invoslmenl porifolio during the year and does not dislingiiish belweeii the value adjusliTienls relating lo the sales and those relaling lo Ihe conliniied htsl(5ings as they are logpllivr Irealed as Glianqes in the value ol the investment portfolio. Investment income is accoiinled lor on a receivable basis. The. Inveslinenls are all held in charily specific managed funds which are lislecl on the UK Stock Exchange. 18. Stocks 2023 2022 Raw malerials and consumables 900 532 19. Debtors 2023 2022 Trade debtors Prepayments and accrued income Other debtors 440 970 440 793 5,705 1.410 6.938 20. Creditors.. amounts falllng due within one year 2023 2022 Trade creditors Accruals and deferred income 186 13.281 2,686 2,686 13.467 19
THE STOCKTON ALMSHOUSES Notes to the Financial Statements (Gonlinu*(11 Year ended 31 December 2023 21. Analysis of charitable fund5 Unrestricted funds Al 1 Jan 2023 Gains ancs At losses 31 Dec 2023 Incoine Expenditure Transfers Geiiercll funds Desioiialcd Fund Exlraordinary Repair Fund Designated Fund Cyclical Maintenan Fund Designated Fund -Rouline Maintenan Fund 162,743 14,618 112,4551 11 J,8661 176,061 22,038 634 119,3081 3,684 1,451 8,499 46,977 908 6.024 53.909 7,558 15,6721 137,4351 4,158 6,044 239,316 36,160 6,472 244,513 Al 1 Jan 2022 Gains and Al losses 31 Dec 2022 Income Expendilure Transfers General funds Designated Fund Extraordinary Repair Fund Designated Fund Cyclical Maintenance Fund Designated Fund -Rouline Maintenance Fund 164,111 33.421 114.3031 {13,866) 16,620) 162,743 32.089 510 112,0121 3,684 12,2331 22,038 40,753 200 6,024 46,977 4,963 241,916 11,563) 127,8781 4,158 7,558 239,316 34.131 18,8531 20
THE STOCKTON ALMSHOUSES Notes to the Financial Statements {¢onliiJuedJ Year ended 31 December 2023 21. Analysis of charitable funds (GonlNNiuedJ Restricted funds Al 1 ,lan 2023 Gains and At losses 31 Dec 2023 Iiicome Expendiliire Transfers The Eniilie Gay l-.und The W T Topp Fund 18,262 544 15441 1,704 19,966 2,988 98 1981 16421 190 3,178 21,250 642 1.894 23,144 Al 1 Jan 2022 Gain5 and Al losses 31 Dec 2022 Income Expenditure Transfers The Emilie Gay Fund The W T Topp Fund 2a,661 546 15461 12,3991 18.262 3,397 66 1861 16321 13891 12,7881 2.988 24,058 612 21.250 The Emilie Gay Fund . RESTRICTED Under the will of Miss Emilie Cjay, who died on 30th November 1920, and a scheme established by the Charity Commissioners on glh September 1921, the Ttuslees of Stockton Almshouses hold investments upon trust lo divide the income equally between the occupants of the Almshouses. The investments held throughout the year were as lollows.' 1005 COIF Income Shares.. Cost - £2,948.00 Market Value.. 2023 - £19,94412022 - £18,240) Nel income receivable in the year wa5 £5461£545 - 20221. This was used lo defray the costs of the occupants of the Almshouses. The W T Topp Fund - RESTRICTED Under the will ol William Thomas Topp, who died on 5th January 1987, a legacy of £1.000 was left lo the Trustees upon trust lo distribute the income annually lo the residents of the Almshouses. The invéstments held throughout the year were as follows: 478.011 units in Charishare Common Investment Fund with a cost of £1,000 and 2 market value of £3,419 al 31 December 2021 wer& sold and reinvested in the year. The costs and valuations of the revised holdings al 31 st December 2023 were as follows:_ Cosl- £3,375-12022..£3,3751 Market Value 2023 - £3,20012022- £3.0101 Nel income receivable in the year was £741£66 20221, which was used lo defray the residents costs. 21
THE STOCKTON ALMSHOUSES Notes to the Financial Statements IcoiiEiFI(iedl Year ended 31 December 2023 22. Analysis of net assets between funds Unreslricled Funds ReslriGled Total Funds Funds 2023 Tangible fixed assets Hei'il¢Jge assets Invv%liYienls Ciirreiil assets Cre(lilurs less than 1 year Net assets 540 12r) 938 12Q,fi98 12,6641 244,513 23,144 22 1221 23,144 149,082 120,7?.0 12,686) 267.657 Unreslricled Funds Reslricled Total Funds Funds 2022 Tangible fixed assels Herilaoe assets Investments Current assets Creditors less than fj year Net assets 636 636 117,460 134,686 113,467) 239,316 21,250 138,710 134,686 113,4671 260.566 21,250 22