CALNE WELFARE CHARITIES
Annual Report of the Trustees and Unaudited Financial Statements
Year ended 31 March 2024
Registered Charity Numbers:
Calne Almshouse Charity- 205037 Calne Relief in Need Charity-205038 Calne Advancement in Life Charity-278477
CALNE WELFARE CHARITIES
Contents of the Financial Statements for the Year Ended 31 March 2024
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10-16 |
| Not forming part of the Statement of Financial | |
| Activites | |
| Detailed Statement of Financial Actvities: | |
| -Calne Almshouse Charity | 17 |
| -Calne Advancement in Life Charity | 18 |
| -Calne Relief in Need Charity | 19 |
| Investment Performance | 20 |
CALNE WELFARE CHARITIES
Report of the Trustees for the Year Ended 31 March 2024
The trustees present their annual report and financial statements of the charity for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities, (effective 1 January 2015).
Objectives and Activities
The purposes of the Charity are as follows:
i) To manage and maintain the Charity's Almshouses and provide accommodation to Almspeople, resident in the Parishes of Calne, Calne Without, Bremhill and Highworth, in the county of Wiltshire, (which is referred to as the 'area of benefit' below).
ii) providing grants for the Advancement in Life.
- in assisting persons who have not attained the age of 25 years, resident in the 'area of benefit', who are in need of financial assistance and who are preparing for, entering upon, or engaged in any profession, trade occupation, or service, by providing them with outfits, or by paying fees, travelling or maintenance expenses. Or by such other means, for their Advancement in Life, or to enable them to earn their living as the Trustees think fit.
-promoting education, (including social and physical) of those such persons referred to above.
iii) providing grants for Relief in Need.
-relieving either generally or individually persons resident in the 'area of benefit', who are in conditions of need, hardship or distress, by making grants of money or providing or paying for items, services of facilities calculated to reduce the need, hardship or distress of such persons.
Grant making policy
Grants are made to individuals, or organisations, for the Advancement in Life, or for the Relief in Need in accordance with the objects of the Trust. All grants must be approved for payment by the Trustees.
Review of Activities
Almshouse residents as at 31 March 2024, were as follows:
Flat 10 Ms A Mullin Flat 11 Ms M Samways Flat 12 Mr A Rimmer Flat 13 Mr J Watkins
During the year donations were received from the following:
| Henry Smith Charity Private individuals Calne Short Mat Bowling Club Total |
£2,200 £891 £376 |
|---|---|
| £3,467 |
Grants of £9,712 were paid out in accordance with the objects of the charity, including to 17 private individuals. Applications for charitable grants from potential donees continued during the year, due to the Trustees raising awareness of the Charity in the local community, assisted by the Charity's website.
1
Financial Review
i) Calne Almshouse Charity
Financial budgets are prepared annually by the Trustees, in accordance with guidance on best practice provided by the National Almshouse Association. This includes the requirement for a weekly maintenance void provision of 5% of anticipated income. The budget makes allowance for all expected operating and management costs, as well as identification of annual provision for repair costs, allocated between i) General repairs and maintenance, ii) Cyclical repairs and maintenance and iii) Extraordinary repairs and maintenance. For the year ended 31 March 2024, the monthly maintenance and light & heat contributions payable by the Almhouse residents was increased by 5% & 10% respectively to £554.80 for Flats 10,11 & 13 and £491 in respect of Flat 12.
Income from Almshouse residents for the year to 31 March 2024 amounted to £25,502 which exceeded budget as all flats were fully let during the year.
Expenditure for the year totalled £17,884, in line with the prior year. Income for the year exceeded expenditure by £7,617.
Unrestricted Income Funds:
As at 31 March 2024, the balance of the Cyclical Repair Fund was £104,323 and the Extraordinary Repair Fund £278,102 (funds invested). The market value of all the funds increased during the year in line with market conditions. The trustees believe that when appropriate, annual transfers should be made into
the Cyclical and Extraordinary Repair Funds, to ensure that sufficient funds are held available at all times to cover future repair costs. No transfer was made this year but £10,000 will be transferred post year-end. As at 31 March 2024, the Trustees believe that sufficient funds are held in both the Cyclical Repair & Extraordinary Repair Funds to cover the costs of future repairs.
ii) Calne Advancement in Life Charity
During the year, investment income totalled £1,750.
Grants paid out in accordance with the charity's aims, amounted to £3,245. As at 31 March 2024, the unrestricted income fund balance amounted to £40,464.
iii) Calne Relief in Need Charity
During the year, total donations of £3,467 were received.
Investment income totalled £1,372. Grants paid out in accordance with the charity's aims, amounted to £6,747. As at 31 March 2024, the unrestricted income fund balance amounted to £30,556.
Overall Trust resources increased by £31,215 compared to the prior year.
With net assets as at 31 March 2024 of £496,014, the charity remains well positioned to meet its current and long term expenditure commitments.
Investment Policy and Performance
The Trust operates a total return approach to the investment of both the permanent endowment and also the current asset investments. The funds are currently invested with two managed charity funds, being 1) CCLA -Charities Official Investment Fund (COIF)
2) M&G -National Almshouse Association Income Fund (NAACIF)
Funds are invested in the CCLA-COIF Income Fund, or the M&G NAACIF Income or Accumulation funds. These funds invest in a mix of UK & Global Equities and Fixed Interest stocks, geared towards longer term total return growth, at a lower risk than investing directly into Equities. The Funds offer better annual returns than those currently obtained on bank deposit, but with a greater element of risk, as a result.
2
During the year the performance of the Funds were as follows:
| Total | Return | ||
|---|---|---|---|
| 2024 | 2023 | ||
| CCLA | COIF -Ethical Income Fund | 5.8% | -3.4% |
| M&G | NAACIF- Income Fund | 3.2% | 1.0% |
| M&G | NAACIF- Accumulation Fund | 4.3% | -2.3% |
Financial Risk Management
The principal risks of the Charity are as follows:
i) Maintenance and security of the Almshouse properties.
The Trust has adequate Buildings, Public and Employer liability insurance in place. The Almshouse properties are insured for £1,092,500.
ii) Financial resources to repair and maintain the Almshouse properties.
Specific unrestricted income funds are in place, with sufficient reserves to cover the costs of Cyclical and Extraordinary repairs, as and when they arise.
iii) Performance of Investments.
The Charity investments are managed by two Charity specific investment companies, one of which being a specific investment fund for Almshouses.
This ensures the security of the investments, as any changes require the approval
of Trustees, as well as funds being invested in a spead of lower risk assets, in line with the Trusts objective of total returns over the longer term.
iv) Default of Residents maintenance contributions.
The Trust Secretary is responsible for the collection of rents on the Trustees' behalf and reports regularly to the Trustees on any incidences of arrears of rent.
Reserves Policy
For the Trust to operate effectively it must maintain sufficient funding of £5,000 to cover its day to day working capital requirements, plus an extra sum to fund any significant committed repair costs. In addition the Trustees have set aside sufficient reserves to cover the cost of both Cyclical and
Extraordinary Repairs, as and when they should arise. Full explanation of the Charity Reserves is shown in note 13 of the Financial Statements.
Plans for the Future
For the year to 31 March 2025, the residents' weekly maintenance contributions were increased by 5% to £500 per month for Flats 10,11,13 and £470 in respect of Flat 12. These rates are in line with National Almshouse Association guidance.
3
Structure, Governance and Management
The Calne Welfare Charities were established by Charity Commission order dated 14 November 1978, being the consolidation of ten charities into three separate registered charities, being:
Calne Almshouse Charity- 205037 Calne Relief in Need Charity-205038 Calne Advancement in Life Charity-278477
The Charity Constitution allows for up to eleven Trustees, as follows:
i) Five ex-officio Trustees.
being
a) The Priest in charge of the Ecclesiastical Parish of Christchurch, Derry Hill.
b) The Vicar and Churchwardens of the Ecclesiastical Parish of Calne.
c) The Vicar of the Ecclesiastical Parish of Bremhill.
ii) Five Nominative Trustees. being appointed by: a) Two by Calne Town Council
b) One by Calne Without Parish Council
c) One by Bremhill Parish Council
d) One by Highworth Parish Council
iii) One Co-optative Trustee.
New Trustees are appointed by the existing trustees, other than those appointed by Calne Town Council.
The Trustees have full power to make regulations for the management of the Charity.
The trust is a member of The National Almshouse Association, which provides helpful advice of good practice and changes in law, affecting charities.
Key Management Personnel Remuneration
The Trustees consider the board of Trustees and the Trust Secretary, as comprising the key management personnel of the charity, in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All Trustees give their time freely and no trustee remuneration was paid in the year. Details of trustee expenses and related party transactions are disclosed in note 2 to the financial statements.
Trustees are required to disclose all relevant interests and register them with the Trust Secretary and in accordance with the Charity's policy, withdraw from decisions where a conflict of interest arises.
The remuneration of the charity's Trust Secretary is reviewed annually by the Trustees.
4
Reference and Administrative Information
Trustees
Jessica Pillow, Chair of Trustees Deirdre Aldhous, Vice Chair of Trustees Jonathan Billings Reverend Linda Carter (resigned 4 July 2023) Elizabeth Hitchens Cllr Robert Merrick Reverend Caspar Bush (appointed 23 September 2023) Simon Petty-Fitzmaurice, 11th Earl of Kerry (appointed 8 March 2024)
Trust Secretary
Douglas Edge
Almshouse Address
10-13 Kingsbury Street Calne Wiltshire SN11 8DF
Principal Office
1 Amberley Close Calne Wiltshire SN11 9UP
Independent Examiner
Mr B. Jackson FCA Oakleaf Accountancy Ltd 78 Stickleback Road Calne Wiltshire SN11 9RB
Bankers
Lloyds Bank 29 High Street Chippenham Wiltshire SN15 3EU
Investment Managers
-
M&G Charities, PO Box 9038, Chelmsford, CM99 2XF.
-
CCLA, Senator House, 85 Queen Victoria Street, London, EC4V 4ET.
5
Trustees' Responsibilities in relation to the Financial Statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards ( United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires charity trustees to prepare financial statements for each 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 the financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently.
-
observe the methods and principals in the applicable Charities SORP;
-
make judgements and estimates that are resonable and prudent.
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that 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 the Charities Act 2011, the applicable Charities ( Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the charity and financial information. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the Trustees on 4 October 2024 and signed on their behalf by:
Jessica Pillow Chair of Trustees
6
CALNE WELFARE CHARITIES
Independent Examiners' Report to the Trustees of the Calne Welfare Charities
I report on the financial statements for the year ended 31 March 2024, set out pages 8 to 16.
Respective responsibilities of Trustees and Examiner
The charity's trustees are responsible for the preparation of the financial statements. The Charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 ( the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
-examine the financial statements under Section 145 of the 2011 Act.
-to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
-to state whether particular matters have come to my attention.
Basis of the Independent Examiner's Report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a 'true and fair view' and the report is limited to those matters set out in the statements below.
Independent Examiner's Report
In connection with my examination, no matter has come to my attention:
1) which gives me reasonable cause to believe that, in any material respect, the requirements
-to keep accounting records in accordance with Section 130 of the 2011 Act; and -to prepare financial statements which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
have not been met; or
2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Barry Jackson, Oak Leaf Accountancy Limited Calne, Wiltshire, SN11 9RB
7
CALNE WELFARE CHARITIES
Statement of Financial Activities for the year ended 31 March 2024
| note Income Incoming resources from charitable activities: Maintenance Contributions, Heating & Service Charges from Almshouse Residents Voluntary Income: Donations receivable 3 Investment income 4 Transfer to income Total Income Expenditure Expenditure on charitable activities: Almshouse property costs 5 Governance costs 6 Support costs-Management 6 Grants for Advancement in Life 5 Grants for Relief in Need 5 Total Expenditure Net incoming/(outgoing) resources before gains/(losses) on investments Other recognised gains/losses: Net gains/(losses) on investment assets 13 Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 13 |
2024 2023 Unrestricted Endowment Total Total Funds Funds Funds Funds £ £ £ £ 25,502 - 25,502 24,792 3,599 - 3,599 9,800 3,122 3,122 2,891 - - |
|---|---|
| 32,223 - 32,223 37,483 |
|
| 16,360 - 16,360 16,008 1,257 - 1,257 1,380 267 - 267 153 3,245 - 3,245 2,710 6,747 - 6,747 9,592 |
|
| 27,876 - 27,876 29,843 |
|
| 4,346 - 4,346 7,640 26,868.10 - 26,868 586 |
|
| 31,215 - 31,215 8,226 |
|
| 464,800 - 464,800 456,574 |
|
| 496,014 496,014 464,800 |
8
CALNE WELFARE CHARITIES
Balance Sheet As at 31 March 2024
| Balance Sheet As at 31 March 2024 |
|
|---|---|
| Notes Fixed Assets: Tangible assets 7 Investments 8 Total Fixed Assets Current Assets: Debtors 9 Investments 10 Cash at bank and in hand 11 Total Current Assets Liabilities: Creditors falling due within 12 one year Net Current Assets Net Assets The Funds of the Charity: Endowment Funds: Permanent Endowment 13 Unrestricted income funds 13 |
2024 2023 Unrestricted Endowment Total Total Funds Funds Funds Funds £ £ £ £ 7,665 - 7,665 7,665 - 8,205 8,205 7,886 |
| 7,665 8,205 15,870 15,551 |
|
| 750 - 750 1,547 457,977 - 457,977 431,428 24,815 - 24,815 18,796 |
|
| 483,542 - 483,542 451,771 3,397.69 - 3,398 2,523 |
|
| 480,144 - 480,144 449,248 |
|
| 487,809 8,205 496,014 464,800 |
|
| - 8,205 8,205 7,886 487,809 - 487,809 456,914 |
|
| 487,809 8,205 496,014 464,800 |
The notes at pages 10 to 16 form part of these financial statements
The financial statements were approved by the Board of Trustees on 4 October 2024 and were signed on its behalf by:
Deirdre Aldhous- Trustee
Jessica Pillow-Trustee
9
CALNE WELFARE CHARITIES
Notes to the Financial Statements for the year ended 31 March 2024
1 Accounting Policies a. Basis of preparation and assessment of going concern The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities, preparing their financial statements in accordance with the Financial Reporting for Smaller Entities published on 16/7/14, the Financial Reporting Standard for Smaller Entities (FRSSE), (effective from 1 January 2015) and the Charities Act 2011 and applicable regulations.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value, unless otherwise stated in the relevant notes to these financial statements.
- b. Funds Structure
Unrestricted income funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds, where the Trustees, at their discretion have created a fund for a specific purpose.
c. Income recognition All income is recognised once the charity has entitlement to income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Maintenance and light & heat contributions from Almshouse Residents are credited to the Statement of Financial Activities on an accruals basis.
Donations and grants receivable are recognised when communictaion is received in writing with notification of both amount and settlement date.
Investment income is credited to the Statement of Financial Activities on an accruals basis.
d. Expenditure recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated to the applicable expenditure headings in the Statement of Financial Activities. -Charitable expenditure comprises those costs incurred by the charity in the delivery of its actvities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those of an indirect nature necessary to support them.
-
Grants payable are payments made to third parties, in furtherance of the charitable objects of the Charity, being for the Relief in Need and in Advancement of Life.
-
-Governance costs include costs associated with meeting the constitutional and statutory requirements of the charity and include independent examination fees and costs linked to management of the charity.
-
-All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly; others are apportioned on an appropriate basis, such as estimated time spent on each activity. - Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
10
CALNE WELFARE CHARITIES
Notes to the Financial Statements for the year ended 31 March 2024
e. Tangible Fixed Assets
Information relating to the original cost of the Almhouses is not readily available and accordingly only the costs of improvements are treated as additions to tangible fixed assets, less Local Authority grants received.
Depreciation is not chargeable, as the properties are maintained in a state of repair such that their estimated residual value is not less than their improvement cost, or carrying amount.
f. Fixed asset investments
Investments are initially recognised at their transaction value and subsequently measured at their market value at the balance sheet date, using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on the revaluation and disposals throughout the year.
The Trust does not acquire or use put options, derivatives or other complex financial statements.
g. Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value, or their purchase value, if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
h. Taxation
The charity is exempt from Income and Capital Gains tax on its charitable activities
2 Related party transactions and Trustees' expenses & remuneration
The Trustees all give their time and expertise without any form of remuneration or other benefit in cash or kind. (2024: £nil).
No expenses were paid to the trustees in the year. (2024 £nil).
| 3 Donations Receivable Calne Advancement in Life Charity Calne Relief in Need Charity 4 Investment income Dividend income Allocated to: Calne Advancement in Life Charity Calne Relief in Need Charity |
2024 £ - 3,599 3,599 2024 £ 3,122 1,750 1,372 3,122 |
2023 £ - 9,800 |
|---|---|---|
| 9,800 | ||
| 2023 £ 2,891 |
||
| 1,868 1,022 |
||
| 2,891 |
11
CALNE WELFARE CHARITIES
Notes to the Financial Statements for the year ended 31 March 2024
| 5 Analysis of Charitable expenditure Almshouse property costs: Insurance and utilities General repairs and maintenance Cyclical repairs and maintenance Website costs Analysis of Grants payable: Grants in Advancement of Life Grants for Relief in Need 6 Analysis of Goverance and Support costs Support costs: Remuneration of Trust Secretary Administration and sundry costs Subscriptions and seminar costs Governance costs: Independent examiner's remuneration 7 Tangible Fixed Assets Property: Cost At 1 April 2023 and 31 March 2024 Improvements Less: Grant Depreciation At 1 April 2023 and 31 March 2024 Net Book Value At 1 April 2023 and 31 March 2024 |
2024 £ 5,386 10,314 - 360 16,060 2024 £ 3,245 6,747 2024 £ - 300 267 567 1,257 2024 £ 16,900 (9,235) 7,665 - 7,665 |
2023 £ 4,475 11,215 - 189 |
|---|---|---|
| 15,879 | ||
| 2023 £ 2,710 9,592 |
||
| 2023 £ - 129 153 |
||
| 282 | ||
| 1,380 | ||
| 2023 £ 16,900 (9,235) |
||
| 7,665 | ||
| - | ||
| 7,665 |
There is no record of the original cost of construction of the Almhouses at 10-13 Kingsbury Street, Calne and no value is attributed thereto. Improvements relate to costs incurred since 1972, less funding by a Local Authority Grant. The balance of £7,665 was funded by the charity by transfer of unrestricted funds, to a Designated Improvements Fund
12
CALNE WELFARE CHARITIES
Notes to the Financial Statements for the year ended 31 March 2024
| 8 Fixed Assets Investments 2024 Permanent Endowment £ Market Value At 1 April 2023 7,886 Additions to investments at cost - Disposals at carrying value - Add net gain/(loss) on revaluation 319 At 31 March 2024 8,205 The investments compromise: CCLA -COIF Income Fund 2,437 M&G -NAACIF Income Fund 5,767 8,205 Allocated by Fund: Calne Advancement in Life Charity Fund 1,852 Calne Relief in Need Charity Fund 6,353 8,205 All investments are carried at their market value. Holdings in common investment funds are valued at their mid price. Asset sales and purchases are recognised at the date of trade at cost (being their transaction value). The original cost of fixed assets investments is £3,190. Gain on cost as at 31 March 2024 is £5015 9 Debtors: Amounts falling due within one year 2024 £ Arrears of Maintenance Contributions (219) Prepayments and accrued income 969 750.06 |
2023 £ 8,198 - - (312) |
|---|---|
| 7,886 | |
| 2,219.69 5,666.60 |
|
| 7,886 | |
| 1,808 6,078 |
|
| 7,886 | |
| 2,023 £ 694 853 |
|
| 1,547 |
13
CALNE WELFARE CHARITIES
Notes to the Financial Statements for the year ended 31 March 2024
| otes to the Financial Statements r the year ended 31 March 2024 |
||
|---|---|---|
| 10 Current Asset Investments Market Value At 1 April 2023 Additions to investments at cost Add net gain/(loss) on revaluation At 31 March 2024 The investments compromise: CCLA -COIF Income Fund M&G -NAACIF Income Fund M&G -NAACIF Accumulation Fund Allocated by Fund: Almshoue Cyclical Repairs and Maintenance Fund Extraordinary Repair Fund Calne Advancement in Life Charity Fund Calne Relief in Need Charity Fund |
2024 £ 431,428 26,548 457,976 28,734 46,818 382,425 457,976 104,323 278,102 44,055 31,497 457,976 |
2023 £ 430,530 898 |
| 431,428.00 | ||
| 26,163 45,999 359,266 |
||
| 431,428 | ||
| 98,005 261,260 42,250 29,912 |
||
| 431,428 |
All investments are carried at their market value. Holdings in common investment funds are valued at their mid price. Asset sales and purchases are recognised at the date of trade at cost (being their transaction value). During the year £ 23,160 of cash held within the Cyclical Repair Fund was invested into the M&G-NAACIF Accumulation Fund.
The original cost of Current assets investments is £117,562. Gain on cost as at 31 March 2024 is £340,414
| 11 Cash at Bank Bank-Current accounts Allocated between funds: Calne Almshouse Charity Fund Cyclical Repair and Maintenance Fund Extraordinary Repair Fund Calne Advancement in Life Charity Fund Calne Relief in Need Charity Fund 12 Creditors: Falling due within one year Other Creditors and Accruals Maintenance Contributions paid in advance Residents' Deposits held |
2024 £ 24,815 £ 67,798 (7,403) (31,733) (3,590) (257) 24,815 £ 684 1,337 1,376 3,398 |
2023 £ 18,796 |
|---|---|---|
| £ 36,151 (1,084) (14,891) (2,096) 717 |
||
| 18,796 | ||
| £ (118) 1,264 1,376 |
||
| 2,523 |
14
CALNE WELFARE CHARITIES
Notes to the Financial Statements
for the year ended 31 March 2023
13 Analysis of Charitable Funds
| Analysis of Charitable Funds | |
|---|---|
| Movement of Funds: Permanent Endowment Unrestricted Funds: i) Calne Almshouse Charity Fund ii) Cyclical Repair and Maintenance Fund iii) Extraordinary Repair Fund iv) Calne Advancement in Life Charity Fund v) Calne Relief in Need Charity Fund vi) Designated Improvements Fund |
As at Gains and As at 31 March 2023 Income Expenditure Transfers losses 31 March 2024 £ £ £ £ £ £ 7,886 319 8,205 35,057 25,502 (17,884) 23,160 65,835 96,921 - - - 96,921 246,369 - - - 246,369 40,155 1,750 (3,245) - 1,805 40,464 30,746 4,971 (6,747) - 1,585 30,556 7,665 - - - 7,665 |
| 464,800 32,223 (27,876) - 26,868 496,014 |
The Permanent Endowment Fund relates to investments provided to the charity, with the express purposes of generating an annual income for the charity, to use in accordance with its aims and objectives.
Unrestricted Funds:
Calne Almshouse Charity Fund
Fund to manage and maintain the Charity's Almshouses and provide accommodation to Almspeople, resident in the Parishes of Calne, Calne Without, Bremhill and Highworth, in the county of Wiltshire, which is referred to as the 'area of benefit' shown below.
Cyclical Repairs and Maintenance Fund
The charity has established a regular programme of transfers to a cyclical property repair reserve fund, in anticipation of significant repair, renewal and maintenance costs incurred on a cyclical basis, i.e. at infrequent intervals, which is not deemed general/annual repairs and maintenance.
Extraordinary Repair Fund
The charity has established a regular programme of transfers to an Extraordinary Repair reserve fund, in anticipation of future extraordinary property repair liabilities.
Calne Advancement in Life Fund
Fund to assist persons who have not attained the age of 25 years, resident in the 'area of benefit', who are in need of financial assistance and who are preparing for, entering upon, or engaged in any profession, trade occupation, or service, by providing them with outfits, or by paying fees, travelling or maintenance expenses. Or by such other means, for their Advancement in Life, or to enable them to earn their living as the Trustees think fit. -promoting education, (including social and physical) of those such persons referred to above.
15
CALNE WELFARE CHARITIES
Notes to the Financial Statements for the year ended 31 March 2024
Calne Relief in Need Fund
Fund to relieve either generally or individually persons resident in the 'area of benefit', who are in conditions of need, hardship or distress, by making grants of money or providing or paying for items, services of facilities calculated to reduce the need, hardship or distress of such persons.
Designated Improvement Fund
Designated property improvement fund, which represents the funding of property improvements to the Almshouses less Local Authority grants received.
| 14 Analysis of Funds by Asset type Permanent Endowment Unrestricted Funds: i) Calne Almshouse Charity Fund ii) Cyclical Repair and Maintenance Fund iii) Extraordinary Repair Fund iv) Calne Advancement in Life Charity Fund v) Calne Relief in Need Charity Fund vi) Designated Improvements Fund |
Fixed Investments Bank Debtors/ Total Assets (Creditors) £ £ £ £ £ 8,205 - - 8,205 - - 67,798 1,963 - 65,835 - 104,323 7,403 - - 96,921 - 278,102 31,733 - - 246,369 - 44,055 3,590 - 40,464 - 31,497 257 - 684 - 30,556 7,665 - - - 7,665 |
|---|---|
| 7,665.00 466,181.18 24,815 2,648 - 496,014 |
|
| 0 - |
15 Ultimate Controlling Party
The Trustees consider that the charity is jointly controlled by the Trustees. There is no ultimate controlling party.
16
CALNE WELFARE CHARITIES
Calne Almshouse Charity Detailed Statement of Financial Activities for the year ended 31 March 2024
| Income Incoming resources from charitable activities Maintenance Contributions Light and Heat Total Incoming resources Expenditure Expenditure on charitable activities Insurance Electricityand Gas Advertising & Marketing (website) Water rates Repairs, renewals and cleaning General Expenses IT Software & Consumables Website costs Governance costs Accountancy and Independent examination Support costs-Management Remuneration of Trust Secretary Administration and sundry expenses Subscription and seminars-National Almshouse Association Total resources expended Net Income/(Expenditure) before transfers to funds |
2024 £ £ 21,977 3,525 25,501.50 25,502 1,082 3,452 300 853 10,310 4 360 16,360 1,257 267 267 17,884 7,617 |
2023 £ £ 21,588 3,204 24,792 24,792 1,035 2,676 129 763 11,215 - 189 16,008 1,380 153 153 17,541 7,251 |
2023 £ £ 21,588 3,204 24,792 24,792 1,035 2,676 129 763 11,215 - 189 16,008 1,380 153 153 17,541 7,251 |
|---|---|---|---|
| 1,082 3,452 300 853 10,310 4 360 |
1,035 2,676 129 763 11,215 - 189 |
||
| 24,792 | |||
| 16,008 1,380 153 |
|||
| 267 | 153 | ||
| 17,541 | |||
| 7,251 |
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CALNE WELFARE CHARITIES
Calne Advancement in Life Charity Detailed Statement of Financial Activities for the year ended 31 March 2024
| Income Donations Rotary Club ( Bowood Fun Run) Investment income Dividends receivable Total Incoming resources Expenditure Expenditure on charitable activities Grants: Gemma Skinner Derry Hill School Swindon School Of Beauty Net Income/(Expenditure) before transfers to funds |
2024 £ £ - 1,750 1,750 2,000 - 1,245 3,245 (1,495) |
2023 £ £ - 1,868 1,868 2,000 710 - 2,710 (842) |
2023 £ £ - 1,868 1,868 2,000 710 - 2,710 (842) |
|---|---|---|---|
| 2,000 - 1,245 |
2,000 710 - |
||
| 1,868 | |||
| 2,710 | |||
| (842) |
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CALNE WELFARE CHARITIES
Calne Relief in Need Charity Detailed Statement of Financial Activities for the year ended 31 March 2024
| Income Donations Richard Ring Gift Aid Received-HMRC St Edmunds church,Muir and G Amati Calne short and Muir and The dawe family trust Calne Short Mat Bowling Club Henry Smith Charity Investment income Dividends receivable Total Incoming resources Expenditure Expenditure on charitable activities Grants: Calne Forget Me Not Club - . Claire Urmston - Wiltshire Equine Assisted learning Tracey Robinson Waste Not Want Not - . carpetright - . The Rise Trust Youth Outreach - . R&GS Hickman - Split with other charities SSE- Mathew Morrison Hayley Bird The carpet barn (Wilts) Michael Mortn-British Gas Dual Marden Wale-DSMAT T/A Marden Calne Town Council Tania Bainbridge Zsanett Juliasz Phillipson - carpets Christmas Gifts to Almspeople Net Income/(Expenditure) before transfers to funds |
2024 £ £ - 132 891 - 376 2,200 3,599 1,372 4,971 - - - 3,674 - - - - - 250 380 320 150 793 900 6,467 280 (1,776) |
2023 £ £ 5,000 - - 800 - 4,000 9,800 1,022 10,822 300 1,000 446 3,770 1,296 1,000 900 500 100 - - - - - - 9,312 280 1,230 |
2023 £ £ 5,000 - - 800 - 4,000 9,800 1,022 10,822 300 1,000 446 3,770 1,296 1,000 900 500 100 - - - - - - 9,312 280 1,230 |
|---|---|---|---|
| - - - 3,674 - - - - - 250 380 320 150 793 900 |
300 1,000 446 3,770 1,296 1,000 900 500 100 - - - - - - |
||
| 10,822 | |||
| 9,312 280 |
|||
| 1,230 |
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CALNE WELFARE CHARITIES Investment Performance Year ended 31 March 2024
| Unit Value | Capital | Dividend | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|---|
| 31/03/2024 | 31/03/2023 | Appreciation | in year | Return | Return | ||||
| pence | pence | (Depreciation) | 2024 | 2023 | |||||
| in year | |||||||||
| CCLA | COIF Charities Investment Fund (from 02/07/21) | Income units | 309.75 | 282.04 | 2.9% | 2.9% | 5.8% | -3.4% | |
| M&G | Charity Multi Asset Fund ( from 15/11/19) | Income units | 90.91 | 89.32 | -1.0% | 4.2% | 3.2% | 1.0% | |
| M&G | Charity Multi Asset Fund ( from 15/11/19) | Accumulation | 11460.81 | 10766.74 | 4.3% | ** | 4.3% | -2.3% | |
| units |
** Notional dividends re-invested and reflected in the unit value.
| Analysis of Investments by Fund: | CCLA | M&G | M&G | Total | Total | ||||
|---|---|---|---|---|---|---|---|---|---|
| COIF | Charity | Charity | As at 31-3-24 | As at 31-3-23 | |||||
| Multi Asset | Multi Asset | ||||||||
| Units | Income | Units | Income | Units | Accumulation | ||||
| £ | £ | £ | £ | £ | |||||
| Permanent Endowment | |||||||||
| i) Calne Advancement in Life Charity Fund | 52.50 | 163 | 1858 | 1,689 | - | 1,852 | 1,808 | ||
| ii) Calne Relief in Need Charity Fund | 734.40 | 2,275 | 4486 | 4,078 | - | 6,353 | 6,078 | ||
| 786.90 | 2,438 | 6,344.00 | 5,767 | - | 8,205 | 7,886 | |||
| Unrestricted Funds: | |||||||||
| i) Cyclical Repair and Maintenance Fund | - | - | 910.26 | 104,323.28 | 104,323 | 98,005 | |||
| ii) Extraordinary Repair Fund | - | - | 2,426.55 | 278,101.83 | 278,102 | 261,260 | |||
| iii) Calne Advancement in Life Charity Fund | 4,638.35 | 14,367.00 | 32,656.00 | 29,687.57 | - | 44,055 | 42,250 | ||
| iv) Calne Relief in Need Charity Fund | 4,638.35 | 14,367.00 | 18,842.35 | 17,129.58 | - | 31,497 | 29,912 | ||
| 9,276.70 | 28,734 | 51,498.35 | 46,817 | 3,336.81 | 382,425 | 457,976 | 431,428 | ||
| 10,063.60 | 31,172 | 57,842.35 | 52,584 | 3,336.81 | 382,425 | 466,181 | 439,314 |
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