2022-12-31-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
	Mr. M. Tunstall
Charity number	207042
Registered office	19TheAlmshouses
	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
		2022	2021
	Notes
Income from:
Donations and legacies	3	297	450
Charitable activities	4	61,089	61,425
Investments	5	8,787	8,007
Total income		70,173	69,882
Expenditure on:
Charitable activities		55,332	55,153
Total expenditure		55,332	55,153
Net income/(expenditure) before gains/(losses) on investments		14,84114,729
Net gains/(losses) on investments9		(3,020)	75,230
Net income for the year		11,821	89,959
Other recognised gains and losses
Revaluation of tangible fixed assets		295,396	392,842
Net movement in funds		307,217	482,801
Fund balances at 1January 2022		3,510,688	3,027,887
Fund balances at 31December 2022		3,817,905	3,510,6^8 >*>

		2022	2021
	Notes
Fixed assets
Tangible assets	11	3,005,208		2,709,812
Investments	12	707,437		710,457
		3,712,645		3,420,269
Current assets
Cash at bank and in hand		106,160	91,259
Creditors: amounts falling due within
one year	13	(900)	(840)
Net current assets		105,260		90,419
Total assets less current liabilities		3,817,905		3,510,688
Income funds
Unrestricted funds
Designated funds	14	3,712,618	3,420,269
General unrestricted funds		105,287	90,419
		3,817,905		3,510,688
		3,817,905		3,510,688
The financial statements were approved by the Trustees		on 15 August 2023
Trustee

	AlmshouseAlmshouse	AlmshouseAlmshouse
	incomeincome
	20222021
Contribution from residents61,08961,425
Investments
	Unrestricted	Unrestricted
	funds	funds
	2022	2021
Investment income	8,488	8,003
Interest receivable	299	4
	8,787	8,007

	2022	2021
Staff costs	8,280	8,890
Light and heat	6,626	6,395
Water services	1,481	1,805
Council tax	2,255	1,357
Insurance	1,805	1,694
Repairs and maintenance (see analysis below)	24,313	32,074
Postage and stationery	56	120
Computer costs	3,104	169
Telephone, TV and internet	1,459	719
Sundry expenses	1,755	769
Legal and professional costs	35	35
Subscriptions	293	286
Health & safety costs	2,970	-
Governance costs	900	840
	55,332	55,153
Analysis of Repairs and Maintenance
	2022	2021
Electrical repairs	2,436	1,600
Plumbing and heating	7,399	1,550
Water testing	2,141	1,507
Pest control	40	3,979
Properties refurbishment	4,325	9,182
Window cleaning	1,028	855
Exterior repairs	3,400	9,607
Heat loss surveys	1,300	-
Window/gutter/sundry repairs	510	1,338
Gardening	1,350	1,736
Fire and safety costs	384	720
	24,313	32,074

Number of employees
The average monthly number of employees during the year was:
	2022	2021
	Number	Number
Charitable activities	2	2
Employment costs	2022	2021
Wages and salaries	8,280	8,890
There were no employees whose annual remuneration was 60,000 or more.

		Unrestricted Unrestricted	Unrestricted Unrestricted
		fundsfunds
		2022	2021
	Revaluation of investments	(3,020)	75,230
10	Taxation
	The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section
	252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
11	Tangible fixed assets
		Freehold land and buildings
	Cost or valuation
	At 1 January 2022		2,709,812
	Revaluation		295,396
	At 31 December 2022		3,005,208
	Carrying amount
	At 31 December 2022		3,005,208
	At 31 December 2021		2,709,812

11	Tangible fixed assets		(Continued)
	The carrying value of land included in land and buildings comprises:
		2022	2021
	Freehold	3,005,181	2,709,812

			Listed
			investments
	Cost or valuation
	At 1January 2022		710,457
	Valuation changes		(3,020)
	At 31 December 2022		707,437
	Carrying amount
	At 31 December 2022		707,437
	At 31 December 2021		710,457
		2022	2021
	Investments at fair value comprise:
	M&G Charity Multi Asset Funds - 4,317 Accumulation Shares	493,280	489,412
	M&G Charity Multi Asset Funds - 216,518 Income Shares	214,157	221,045
		707,437	710,457
	Fixed asset investments revalued
	The historic cost of listed investments included above is 220,000 (2021: 220,000).
13	Creditors: amounts falling due within one year

	2022	2021
Accruals and deferred income	900	840

	Balance at	Revaluations,	Balance atRevaluations,Balance at
	1 January 2021	gains and1	January 2022gains and31December
		losseslosses2022
Fixed Asset Fund	2,316,970	392,842	3,005,181 295,369 2,709,812
Emergency Repair Fund	101,201	-	101,201 - 101,201
Common Maintenance Fund	118,799	-	118,799 - 118,799
Investments - Revaluation Reserve	415,227	75,230	487,437 (3,020) 490,457
	2,952,197	468,072	3,420,269 292,349 3,712,618