**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:
1. 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
3. 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.
Page 6
continued...
**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||
Page 7
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|
|---|---|
Page 8
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
Page 10