REGISTERED CHARITY NUMBER: 207264
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
DUNTON'S ALMSHOUSES
Walter Wright Chartered Accountants 89 High Street Hadleigh Ipswich Suffolk IP7 5EA
DUNTON'S ALMSHOUSES
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 7 |
| Detailed Statement of Financial Activities | 8 |
DUNTON'S ALMSHOUSES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The general objective of the charity is the provision of housing for pensioners. The charity continued to pursue this objective during the year under review. During the year the charity has continued to provide the elderly with housing for a rate below the market average.
In addition, during the year the charity continued to review its reserves to try to improve the financial return it was making.
Public benefit
Dunton's Almshouses reviews its aims, objectives and achievements each year. In undertaking this review the trustees pay due regard to guidance issued by the charity commission in determining how Dunton's Almshouses should carry out its activities for the public benefit.
FINANCIAL REVIEW
Reserves policy
The current level of cash reserves available is now £206k, equivalent to around 9 years of normal operating expenditure. The long-term aim is to increase almshouse accommodation if possible. The trustees deem the current position of the charity to be healthy.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted under a declaration of trust dated 15 April 1859 and is a registered charity. The declaration of trust has since been amended, with the latest amendment being made on 20 November 2007.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
207264
Principal address
Homestead Coopers Lane Dedham Colchester Essex CO7 6AX
Trustees
Mr P S Foster (Chairman) Mrs M J Jewell Mr C Biggins Mr J Millican (Resigned 1 June 2021) Mr I Lovelock Mrs S Geary Mr J Hayden Mrs Carolyn Clayton (Appointed 13 April 2021) Mrs Léonie McLaughlin (Appointed 13 April 2021)
New trustees are appointed by the existing trustees and the trustees keep the skill requirement of the trustees under review
Page 1
DUNTON'S ALMSHOUSES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Mr D Simcox FCA Walter Wright Chartered Accountants 89 High Street Hadleigh Ipswich Suffolk IP7 5EA Bankers Barclays Bank plc PO Box 1 9 High Street Colchester CO1 1DD Ipswich Building Society PO Box 547 Ipswich IP3 9WZ Virgin Money Jubilee House Gosforth Newcastle upon Tyne NE3 4PL
REVEREND C A JONES ACCOUNTS
The Reverend C A Jones account was an endowment to the Almshouses, the income from which was originally intended to provide heating to the residents. The income from this endowment comes from the investment each year and as long as there is sufficient income, is donated to the residents currently as a Christmas gift. A summary of the transactions for the year is shown in the attached notes.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DUNTON'S ALMSHOUSES
Independent examiner's report to the trustees of Dunton's Almshouses
I report to the charity trustees on my examination of the accounts of Dunton's Almshouses (the Trust) for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr D Simcox FCA Walter Wright Chartered Accountants 89 High Street Hadleigh Ipswich Suffolk IP7 5EA
Date: .............................................
Page 3
DUNTON'S ALMSHOUSES
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Residents' contributions 33,717 Investment income 2 2,707 Other income 500 Total 36,924 EXPENDITURE ON Charitable activities Almhouse expenses 24,935 NET INCOME 11,989 RECONCILIATION OF FUNDS Total funds brought forward 285,224 TOTAL FUNDS CARRIED FORWARD 297,213 |
2020 Total funds £ 34,875 3,120 - |
|---|---|
| 37,995 23,789 |
|
| 14,206 271,018 |
|
| 285,224 |
The notes form part of these financial statements
Page 4
DUNTON'S ALMSHOUSES
BALANCE SHEET 31 DECEMBER 2021
| 2021 Unrestricted fund Notes £ CURRENT ASSETS Investments 4 92,016 Cash at bank 205,797 297,813 CREDITORS Amounts falling due within one year 5 (600) NET CURRENT ASSETS 297,213 TOTAL ASSETS LESS CURRENT LIABILITIES 297,213 NET ASSETS 297,213 FUNDS Unrestricted funds 297,213 TOTAL FUNDS 297,213 |
2020 Total funds £ 92,016 193,808 285,824 (600) 285,224 285,224 285,224 285,224 285,224 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
Page 5
DUNTON'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The accounts of the charity, which is a public benefit entity, have been prepared under the receipts and payments basis.
Income
Residents' contributions, dividends and interest are credited in the period in which they are received.
Taxation
The charity is exempt from tax on its charitable activities.
Investments
Investments are included at their original cost price.
Property
The property comprises:
(a) Nine almshouses situated in Crown Street, Dedham founded in 1517 and rebuilt in 1806. (b) Farm land at Clacton
All of the properties have been held by the charity for many years. No value has been attached to them in the Statement of Assets and Liabilities, but they are insured for £1,500,000.
2. INVESTMENT INCOME
3.
| Farmland rent Deposit account interest Dividends TRUSTEES' REMUNERATION AND BENEFITS Trustees' salaries |
2021 £ 1,750 771 186 2,707 2021 £ 1,200 |
2020 £ 1,750 1,173 197 |
|---|---|---|
| 3,120 | ||
| 2020 £ 980 |
Trustees' expenses
Mrs V Baker, trustee, was paid £0 (2020 £700) for her services as official visitor during the year. Mr C Biggins, trustee, was paid £1200 (2020 £980) for his services as clerk.
Page 6
continued...
DUNTON'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
4. CURRENT ASSET INVESTMENTS
| 2021 2020 £ £ Unlisted investments 92,016 92,016 Share units Market value Cost Income Charities official investment fund £ £ £ £ Capital account 371 90095 36723 National Association of Almshouses Common investment funds: Duntons Almshouses 900 94331 53727 Sophia Hewitts Bequest 5624 5156 1566 186 6895 189581 92016 186 Valuation movements 0 24777 0 Investments brought forward 6895 164804 92016 Investments carried forward 6895 189581 92016 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 £ £ Other creditors 600 600 6. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2021. 7. REVEREND C A JONES CHARITY ACCOUNTS STATEMENT OF ASSETS AND LIABILITIES 2021 2020 £ £ Cash funds Barclays current account 539 448 Other assets 172 COIF income shares (Market value £3,537 ) 172 172 711 620 RECEIPTS AND PAYMENTS ACCOUNT Income from shares 91 89 Cash funds brought forward 448 359 Cash funds carried forward 539 448 |
2021 2020 £ £ Unlisted investments 92,016 92,016 Share units Market value Cost Income Charities official investment fund £ £ £ £ Capital account 371 90095 36723 National Association of Almshouses Common investment funds: Duntons Almshouses 900 94331 53727 Sophia Hewitts Bequest 5624 5156 1566 186 6895 189581 92016 186 Valuation movements 0 24777 0 Investments brought forward 6895 164804 92016 Investments carried forward 6895 189581 92016 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 £ £ Other creditors 600 600 6. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2021. 7. REVEREND C A JONES CHARITY ACCOUNTS STATEMENT OF ASSETS AND LIABILITIES 2021 2020 £ £ Cash funds Barclays current account 539 448 Other assets 172 COIF income shares (Market value £3,537 ) 172 172 711 620 RECEIPTS AND PAYMENTS ACCOUNT Income from shares 91 89 Cash funds brought forward 448 359 Cash funds carried forward 539 448 |
2021 2020 £ £ Unlisted investments 92,016 92,016 Share units Market value Cost Income Charities official investment fund £ £ £ £ Capital account 371 90095 36723 National Association of Almshouses Common investment funds: Duntons Almshouses 900 94331 53727 Sophia Hewitts Bequest 5624 5156 1566 186 6895 189581 92016 186 Valuation movements 0 24777 0 Investments brought forward 6895 164804 92016 Investments carried forward 6895 189581 92016 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 £ £ Other creditors 600 600 6. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2021. 7. REVEREND C A JONES CHARITY ACCOUNTS STATEMENT OF ASSETS AND LIABILITIES 2021 2020 £ £ Cash funds Barclays current account 539 448 Other assets 172 COIF income shares (Market value £3,537 ) 172 172 711 620 RECEIPTS AND PAYMENTS ACCOUNT Income from shares 91 89 Cash funds brought forward 448 359 Cash funds carried forward 539 448 |
2021 2020 £ £ Unlisted investments 92,016 92,016 Share units Market value Cost Income Charities official investment fund £ £ £ £ Capital account 371 90095 36723 National Association of Almshouses Common investment funds: Duntons Almshouses 900 94331 53727 Sophia Hewitts Bequest 5624 5156 1566 186 6895 189581 92016 186 Valuation movements 0 24777 0 Investments brought forward 6895 164804 92016 Investments carried forward 6895 189581 92016 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 £ £ Other creditors 600 600 6. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2021. 7. REVEREND C A JONES CHARITY ACCOUNTS STATEMENT OF ASSETS AND LIABILITIES 2021 2020 £ £ Cash funds Barclays current account 539 448 Other assets 172 COIF income shares (Market value £3,537 ) 172 172 711 620 RECEIPTS AND PAYMENTS ACCOUNT Income from shares 91 89 Cash funds brought forward 448 359 Cash funds carried forward 539 448 |
2021 £ 92,016 |
2021 £ 92,016 |
2021 £ 92,016 |
2021 £ 92,016 |
2020 £ 92,016 |
2020 £ 92,016 |
|---|---|---|---|---|---|---|---|---|---|
| Cost Income |
|||||||||
| £ | £ | £ | £ | ||||||
| 371 | 90095 | 36723 | |||||||
| 900 | 94331 | 53727 | |||||||
| 5624 | 5156 | 1566 | 186 | ||||||
| 6895 | 189581 | 92016 | 186 | ||||||
| 0 | 24777 | 0 | |||||||
| 6895 | 164804 | 92016 | |||||||
| 6895 | 189581 | 92016 | |||||||
| 2020 £ 600 |
|||||||||
| 2020 | |||||||||
| £ | |||||||||
| 448 | |||||||||
| 172 | |||||||||
| 620 | |||||||||
| 89 | |||||||||
| 359 | |||||||||
| 448 | |||||||||
Page 7
DUNTON'S ALMSHOUSES
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| INCOME AND ENDOWMENTS Investment income Farmland rent Deposit account interest Dividends Charitable activities Residents' contributions Other income Other income Total incoming resources EXPENDITURE Charitable activities General repairs Rates and water Insurance Light and heat Postage and stationery Sundries Support costs Governance costs Clerk's honorarium Visitor's honorarium Accountancy and legal fees Total resources expended Net income |
2021 £ 1,750 771 186 2,707 33,717 500 36,924 17,875 1,623 1,550 37 - 393 21,478 1,200 - 2,257 3,457 24,935 11,989 |
2020 £ 1,750 1,173 197 |
|---|---|---|
| 3,120 34,875 - |
||
| 37,995 17,257 1,552 1,462 45 212 771 |
||
| 21,299 980 700 810 |
||
| 2,490 | ||
| 23,789 | ||
| 14,206 |
This page does not form part of the statutory financial statements
Page 8