|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|||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Total|unrestricted| |---|---| ||funds| |2020|2019| |Donations and gifts168
-|| |Charitable activities|| |Unrestricted|Unrestricted| |---|---| |funds|funds| |2020|2019| |8,087|7,578| |80|173| |8,167|7,751| ||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||| |||Unrestricted|Unrestricted| |---|---|---|---| |||funds|funds| |||2020|2019| ||Revaluation of investments|(22,931)|86,945| |10|Tangible fixed assets||| |||Freehold land|and buildings| ||Cost or valuation||| ||At 1 January 2020||2,230,000| ||Revaluation||86,970| ||At 31 December 2020||2,316,970| ||Carrying amount||| ||At 31 December 2020||2,316,970| ||At 31 December 2019||2,230,000| |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|