2021-12-31-accounts

Trustees	Mrs. E. Nelson-Walker (Chair)
	Mr.R. B.Frost (Treasurer)
	Mr. P.Mould (Deputy Chair)
	Rev. T. Rindl
	Mr. N. H. Tyrwhitt
	Cllr.M. Devonish
	Mrs. F. Evans
	Dr. N. Ineson
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
	CM11FB
	CCLA Investment Management Ltd
	80 Cheapside
	London
	EC27 6DZ

		Unrestricted	Total
		funds
		2021	2020
	>tes
Income from:
Donations and legacies	3	450
Charitable activities	4	61,425	57,660
Investments	5	8,007	8,167
Total income		69,882	65,827
Expenditure on:
Charitable activities	6	55,153	56,051
Total expenditure		55,153	56,051
Net income/(expenditure) before gains/(losses) on investments		14,729	9,776
Net gains/(losses) on investments9		75,230	(22,931)
Net income for the year		89,959	(13,155)
Other recognised gains and losses
Revaluation of tangible fixed assets		392,842	86,970
Net movement in funds		482,801	73,815
Fund balances at 1 January 2021		3,027,887	2,954,072
Fund balances at 31 December 2021		3,510,688	3,027,887

		2021		2020
	otes
Fixed assets
Tangible assets	10		2,709,812	2,316,970
investments	11		710,457	635,227
			3,420,2692,952,197
Current assets
Cash at bank and in hand		91,259	76,530
Creditors: amounts falling due within
one year	13	(840)	(840)
Net current assets			90,419	75,690
Total assets less current liabilities			3,510,688	3,027,887
Income funds
Unrestricted funds
Designated funds143,420,2692,952,197
General unrestricted funds90,41975,690
			3,510,6883,027,887
			3,510,6883,027,887

	Unrestricted	Total
	funds
	2021	2020
Donations and gifts	450	-
Charitable activities
	Almshouse	Almshouse
	income	income
	2021	2020
	tti	ui
Contribution from residents61,425		57,660

	Unrestricted	Unrestricted
	funds	funds
	2021	2020
Investment income	8,003	8,087
Interest receivable	4	80
	8,007	8,167

	2021	2020
Staff costs	8,890	8,480
Light and heat	6,395	6,311
Water services	1,805	1,616
Council tax	1,357	2,016
Insurance	1,694	1,655
Repairs and maintenance (see analysis below)	32,074	33,069
Postage and stationery	120	18
Computer costs	169	239
Telephone, TV and internet	719	757
Sundry expenses	769	735
Legal and professional costs	35	-
Subscriptions	286	315
Governance costs	840	840
	55,153	56,051
Analysis of Repairs and Maintenance
	2021	2020
Electrical repairs	1,600	1,105
Plumbing and heating	1,550	1,801
Water testing	1,507	1,507
Pest control	3,979
Properties refurbishment	9,182	22,908
Window cleaning	855	600
Exterior repairs	9,607	-
Window/gutter/sundry repairs	1,338	-
Gardening	1,736	1,590
Fire and safety costs	720	1,310
Sundry items	-	2,248
	32,074	33,069

8	Employees
	Number of employees
	The average monthly number of employees during the year was:
		2021			2020
		Number			Number
	Charitable activities	2			2
	Employment costs	2021			2020
	Wages and salaries	8,890			8,480
	There were no employees whose annual remuneration was 60,000 or more.
9	Net gains/(losses) on investments
		Unrestricted	Unrestricted
		funds			funds
		2021			2020
	Revaluation of investments	75,230			(22,931
10	Tangible fixed assets
		Freehold land	and		buildings
	Cost or valuation
	At 1 January 2021		2,		316,970
	Revaluation				392,842
	At 31 December 2021		,709,812 2,
	Carrying amount
	At 31 December 2021		,709,812 2,
	At 31 December 2020		2	,316,970

10	Tangible fixed assets		(Continued)
	The carrying value of land included in land and buildings comprises:
		2021	2020
	Freehold	2,316,970	2,316,970
	The land and buildings represent the Essex Almshouses held for functional use 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 2021		635,227
	Valuation changes		75,230
	At 31 December 2021		710,457
	Carrying amount
	At 31 December 2021		710,457
	At 31 December 2020		635,227
		2021	2020
	Investments at fair value comprise:
	M&G Charity Multi Asset Funds - 4,317 Accumulation Shares	489,412	432,444
	M&G Charity Multi Asset Funds - 216,518 Income Shares	221,045	202,783
		710,457	635,227
	Fixed asset investments revalued
	The historic cost of listed investments included above is 220,000 (2020: 220,000).
12	Financial instruments	20212020
	Carrying amount of financial assets
	Instruments measured at fair value through profit or loss	710,457635,227

	Balance at	Transfers	Revaluations,	Balance at	Revaluations,	Balance at
	1 January 2020gains and1			January 2021	gains and	31 December
			losses		losses	2021
	tti			tti
Fixed Asset Fund	230,000		86,970	2,316,970	392,842	2,709,812
Emergency Repair Fund	71,201	30,000		101,201		101,201
Common Maintenance
Fund	98,799	20,000	-	118,799	-	118,799
Investments -
Revaluation Reserve	438,158		(22,931)	415,227	75,230	490,457
	2,838,15850,00064,039			2,952,197	468,072	3,420,269