2020-12-31-accounts - Bedford Morison And Cordery Almshouse Charity

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Trustees	Mrs. E. Nelson-Walker (Chair)
	Mr. R.B.Frost (Treasurer)
	Mr. P.Mould (Deputy Chair)
	Rev. T. Rindl
	Cllr. D.Scudder
	Mr.N. H. Tyrwhitt
Charity number	207042
Registered office	19 The Almshouses
	St Mary's Close
	Watford
	Hertfordshire
	WD18 0EQ
Independent examiner	Gary Howard FCA
	Howard Wilson Chartered Accountants
	36 Crown Rise
	Watford
	Hertfordshire
	WD25 ONE
Bankers	National Westminster Bank pic
	72/74 High Street
	Watford
	Hertfordshire
	WD17 2GZ
Investment advisors	The M&G Group
	M&G House
	Victoria Road
	Chelmsford
	Essex
	CM1 1FB
	CCLA Investment Management Ltd
	80 Cheapside
	London
	EC27 6DZ

		Unrestricted	Total
		funds
		2020	2019
	Notes
Income from:
Donations and legacies Charitable activities Investments	3 4 5	8,167 57,660 _	7,751 61,655 168
Total income		827 65,	,574 69
Expenditure on:
Charitable activities		051 56,	,486 41
Total expenditure		051 56,	,486 41
Net income/(expenditure) before gains/(losses) on investments		9,77628,088
Net gains/(losses) on investments9		(22,931)	86,945
Net income for the year		(13,155)	115,033
Other recognised gains and losses
Revaluation of tangible fixed assets		86,970	662,123
Net movement in funds		73,815	777,156
Fund balances at 1 January 2020		2,954,072	2,176,916
Fund balances at 31 December 2020		3,027,887	2,954,072

		2020		2019
	Notes
Fixed assets
Tangible assets10		2,316,970			2,230,000
Investments11			635,227		608,158
		2,952,197			2,838,158
Current assets
Cash at bank and in hand		76,530		116,754
Creditors: amounts falling due within
one year13		(840)		(840)
Net current assets			75,690		115,914
Total assets less current liabilities		3,027,887			2,954,072
Income funds
Unrestricted funds
Designated funds	14	2,952,197		2,838,158
General unrestricted funds		75,690		115,914
		3,027,887			2,954,072
		3,027,887			2,954,072
The financial statements were approved by the Trustees		on 27 April 2021
M^R Frost
Trustee

	2020	2019
Staff costs	8,480	7,470
Light and heat	6,311	7,098
Water services	1,616	2,089
Council tax	2,016	1,408
Insurance	1,655	1,607
Repairs and maintenance (see analysis below)	33,069	17,240
Postage and stationery	18	22
Computer costs	239	609
Telephone, TV and internet	757	747
Travel	-	578
Sundry expenses	735	538
Legal and professional costs	-	970
Subscriptions	315	270
Governance costs	840	840
	56,05141,486
Analysis of Repairs and Maintenance
	2020	2019
Electrical repairs	1,105	606
Plumbing and heating	1,801	4,005
Water testing	1,507	1,731
Pest control	-	429
Properties refurbishment	22,908	5,379
Window cleaning	600	600
Relaying paved area of bin storage	-	1,225
Window/gutter/sundry repairs	-	426
Gardening	1,590	1,215
Fire and safety costs	1,310	121
Sundry items	2,248	1,503
	33,06917,240

Number of employees
The average monthly number of employees during the year was:
	2020	2019
	Number	Number
Charitable activities	2	2
Employment costs	2020	2019
Wages and salaries	8,480	7,470
There were no employees whose annual remuneration was 60,000 or more.
Net gains/(losses) on investments

10	Tangible fixed assets		(Continued)
	The carrying value of land included in land and buildings comprises:
		2020	2019
	Freehold	2,316,970	2,230,000
	The land and buildings represent the Essex Almshouses held for functionaluse by the charity and are
	stated at their insured value which the Trustees consider to be equivalent	to the depreciated	replacement
	cost.
11	Fixed asset investments

			Listed
			investments
	Cost or valuation
	At 1 January 2020608,158
	Additions50,000
	Valuation changes(22,931)
	At 31 December 2020		635,227
	Carrying amount
	At 31 December 2020		635,227
	At 31 December 2019		608,158
		2020	2019
	Investments at fair value comprise:
	M&G Charity Multi Asset Funds -4,317 Accumulation Shares M&G Charity Multi Asset Funds -216,518 Income Shares	202,783 432,444	195,668 412,490
		635,227	608,158
	Fixed asset investments revalued
	The historic cost of listed investments included above is 220,000 (2019: 170,000).
12	Financial instruments	20202019
	Carrying amount of financial assets
	Instruments measured at fair value through profit or loss	635,227608,158

Creditors: amounts falling due within one year
	2020	2019
Accruals and deferred income	840	840

	Balance at	Revaluations,	Balance at	Transfers	Revaluations,	Balance at
	1 January 2019	gains and1	January 2020		gains and	31 December
		losses			losses	2020
Fixed Asset Fund	1,567,877	662,123	2,230,000	_	86,970	2,316,970
Emergency Repair Fund	71,201	-	71,201	30,000	-	101,201
Common Maintenance
Fund	98,799	-	98,799	20,000	-	118,799
Investments -
Revaluation Reserve	351,213	86,945	438,158	-	(22,931)	415,227
	2,089,090	749,068	2,838,158	50,000	64,039	2,952,197