REGISTERED CHARITY NUMBER: 207264
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
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 2022
| 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 | 9 |
| Detailed Statement of Financial Activities | 10 |
DUNTON'S ALMSHOUSES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. 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 has fallen over the year to £190,000, equivalent to around 3 years of normal operating expenditure. The long-term aim is to increase almshouse accommodation if possible.
Each year the trustees sets a maintenance and repair budget, This expenditure is monitored and if necessary adjusted at each trustee meeting. In 2022, a separate amount of £55,000 was included for the installation of gas central heating in addition to the run of the mill maintenance costs for which a budget of £20,000 was allocated.
For 2023 a sum of £10,000 has been budgeted for. However, the properties have recently had an independent quinquennial inspection by chartered surveyors and their recommendations might mean that this sum has to be adjusted upwards once more detailed costings are made
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
Page 1
DUNTON'S ALMSHOUSES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
Trustees
Mr P S Foster (Chairman) Mrs M J Jewell Mr I Lovelock Mrs S Geary Mr J Hayden Mrs Carolyn Clayton Mrs Léonie McLaughlin
New trustees are appointed by the existing trustees and the trustees keep the skill requirement of the trustees under review
Independent Examiner
Mr M Wallace TEP CTA 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.
02/10/2023
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. Trustee
Stephen Foster
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 2022.
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 M Wallace TEP CTA FCA
Walter Wright Chartered Accountants 89 High Street Hadleigh Ipswich Suffolk IP7 5EA 02/10/2023 Date: .............................................
Page 3
DUNTON'S ALMSHOUSES
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Residents' contributions 36,283 Investment income 2 3,865 Other income - Total 40,148 EXPENDITURE ON Charitable activities Residents' contributions (1,600) Almhouse expenses 55,629 Total 54,029 NET INCOME/(EXPENDITURE) (13,881) RECONCILIATION OF FUNDS Total funds brought forward 297,213 TOTAL FUNDS CARRIED FORWARD 283,332 |
Restricted fund £ - 93 - 93 - - - 93 711 804 |
2022 Total funds £ 36,283 3,958 - 40,241 (1,600) 55,629 54,029 (13,788) 297,924 284,136 |
2021 Total funds £ 33,717 2,798 500 |
|---|---|---|---|
| 37,015 | |||
| - 24,935 |
|||
| 24,935 | |||
| 12,080 285,844 |
|||
| 297,924 |
The notes form part of these financial statements
Page 4
DUNTON'S ALMSHOUSES
BALANCE SHEET
31 DECEMBER 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | fund | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Debtors | 4 | 1,600 | - | 1,600 | - |
| Investments | 5 | 92,016 | 172 | 92,188 | 92,188 |
| Cash at bank and in hand | 190,316 | 632 | 190,948 | 206,336 | |
| 283,932 | 804 | 284,736 | 298,524 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 6 | (600) | - | (600) | (600) |
| NET CURRENT ASSETS | 283,332 | 804 | 284,136 | 297,924 | |
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 283,332 | 804 | 284,136 | 297,924 | |
| NET ASSETS | 283,332 | 804 | 284,136 | 297,924 | |
| FUNDS | 7 | ||||
| Unrestricted funds | 283,332 | 297,213 | |||
| Restricted funds | 804 | 711 | |||
| TOTAL FUNDS | 284,136 | 297,924 |
The financial statements were approved by the Board of Trustees and authorised for issue on 02/10/2023............................................. and were signed on its behalf by:
............................................. Trustee
Stephen Foster
The notes form part of these financial statements
Page 5
DUNTON'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
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 and the original cost is unknown. No value has been attached to them in the Balance Sheet, but they are insured for £1,500,000.
2. INVESTMENT INCOME
| Farmland rent Deposit account interest Dividends |
2022 £ 1,750 1,918 290 3,958 |
2021 £ 1,750 771 277 |
|---|---|---|
| 2,798 |
3. TRUSTEES' REMUNERATION AND BENEFITS
Mr C Biggins, a former trustee, was paid £1,400 (2021 £1,200) for his services as clerk.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
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DUNTON'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
| 4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 5. CURRENT ASSET INVESTMENTS Unlisted investments Market value 2022 COIF Charities Investment Fund £ Capital account 81,872 M & G Investments Common investment funds: Duntons Almshouses 95,076 Sophia Hewitts Bequest 4,967 TOTAL 181,915 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 7. MOVEMENT IN FUNDS At 1.1.22 £ Unrestricted funds General fund 297,213 Restricted funds Reverend CA Jones Charity 711 TOTAL FUNDS 297,924 |
4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 5. CURRENT ASSET INVESTMENTS Unlisted investments Market value 2022 COIF Charities Investment Fund £ Capital account 81,872 M & G Investments Common investment funds: Duntons Almshouses 95,076 Sophia Hewitts Bequest 4,967 TOTAL 181,915 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 7. MOVEMENT IN FUNDS At 1.1.22 £ Unrestricted funds General fund 297,213 Restricted funds Reverend CA Jones Charity 711 TOTAL FUNDS 297,924 |
2022 £ 1,600 2022 £ 92,188 |
2022 £ 1,600 2022 £ 92,188 |
2022 £ 1,600 2022 £ 92,188 |
2021 £ - 2021 £ 92,188 |
2021 £ - 2021 £ 92,188 |
||
|---|---|---|---|---|---|---|---|---|
| Market value | Market value |
Cost | ||||||
| 2022 | 2021 | |||||||
| £ | £ | £ | ||||||
| 81,872 | 90,095 | 36,895 | ||||||
| 95,076 | 94,331 | 53,727 | ||||||
| 4,967 | 5,156 | 1,566 | ||||||
| 181,915 | 189,582 | 92,188 | ||||||
| 2022 £ 600 Net movement in funds £ (13,881) 93 (13,788) |
2021 £ 600 At 31.12.22 £ 283,332 804 284,136 |
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continued...
DUNTON'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
7. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 40,148 Restricted funds Reverend CA Jones Charity 93 TOTAL FUNDS 40,241 Comparatives for movement in funds At 1.1.21 £ Unrestricted funds General fund 285,224 Restricted funds Reverend CA Jones Charity 620 TOTAL FUNDS 285,844 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 36,924 Restricted funds Reverend CA Jones Charity 91 TOTAL FUNDS 37,015 |
Resources Movement expended in funds £ £ (54,029) (13,881) - 93 (54,029) (13,788) Net movement At in funds 31.12.21 £ £ 11,989 297,213 91 711 12,080 297,924 Resources Movement expended in funds £ £ (24,935) 11,989 - 91 (24,935) 12,080 |
|---|---|
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continued...
DUNTON'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
Page 9
DUNTON'S ALMSHOUSES
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| 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 Contribution towards alterative housing while work was being undertaken Christmas gifts to residents Sundries Support costs Governance costs Clerk's honorarium Accountancy and legal fees Total resources expended Net (expenditure)/income |
2022 £ 1,750 1,918 290 3,958 36,283 - 40,241 46,511 1,596 1,427 53 1,716 225 291 51,819 1,400 810 2,210 54,029 (13,788) |
2021 £ 1,750 771 277 |
|---|---|---|
| 2,798 33,717 500 |
||
| 37,015 17,875 1,623 1,550 37 - - 393 |
||
| 21,478 1,200 2,257 |
||
| 3,457 | ||
| 24,935 | ||
| 12,080 |
This page does not form part of the statutory financial statements
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