REGISTERED CHARITY NUMBER: 207264
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
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 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
DUNTON'S ALMSHOUSES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. 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 'eligible residents' . An 'eligible resident' is defined in the Trust Deed as someone who is aged 60 or more, who has lived in the parish of Dedham for at least 5 years before applying to become a resident and who is, in the opinion of the trustees, most deserving to occupy one of the almshouses.
The trustees can allow applications from those over 60 elsewhere if they are unable to find an eligible person who has lived in the parish of Dedham for at least 5 years.
If they are still unable to find 'eligible residents' they can allow applications on a wider basis.
The charity continued to pursue this objective during the year under review. During the year the charity has continued to provide the residents 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
Financial position
The level of cash reserves at the year end has increased slightly to £129,286, equivalent to more than 2 years of normal operating costs.
Reserves policy
'The Trustees have followed the Almshouse Association guidelines in setting their policy on financial reserves. In keeping with these guidelines and having regard to their overriding fiduciary duties to maintain the permanent capital of the Charity, while seeking risk adjusted returns from a combination of asset types, the Trustees have notionally allocated their investment assets to three separate reserve funds as follows:
-
Cyclical Maintenance Fund: for known regular building repairs and maintenance, represented by the cash deposit account held with Barclays Bank, into which Weekly Maintenance Contributions from residents are made.
-
Extraordinary Repair Fund: for unanticipated but significant repairs, principally to the roof of the almshouses, represented by investments held with CCLA and M&G.
-
General Reserves, represented by the accounts held with the Saffron and Suffolk Building Societies, are held for general purposes.
During the year to 31st December 2024, the Trustees discussed various potential improvements to the almshouses which would be funded from General Reserves.
The trustees deem the current position of the charity to be healthy.
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DUNTON'S ALMSHOUSES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
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
Fairview The Heath Dedham Colchester Essex CO7 6BU
Trustees
Mrs Léonie McLaughlin (Chairman to 12 January 2025 - resigned as trustee 12 January 2025)
Mr C Sims - appointed 22 March 2024 (Acting Chairman from 12 January 2025, appointed chair March 2025) Mrs M J Jewell
Mr I Lovelock Mrs S Geary - resigned 12 January 2025 Mrs Carolyn Clayton Mrs L Goodall - appointed 22 March 2024 - resigned 12 January 2025 Mr C Biggins Mrs H Roberts - appointed 29 April 2025 Mr P Maston - appointed 29 April 2025
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
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DUNTON'S ALMSHOUSES
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Bankers
Barclays Bank plc PO Box 1 9 High Street Colchester CO1 1DD
Suffolk Building Society PO Box 547 Ipswich IP3 9WZ
Saffron Building Society Saffron House 1a Market Street Saffron Walden CB10 1HX
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.
CLERK
During the year, Mrs Amanda Watkins, served as the Charity's Clerk. The trustees are grateful for her commitment and time given to the Charity.
Approved by order of the board of trustees on 11 August 2025 and signed on its behalf by:
Trustee
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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 2024.
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
11 August 2025
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DUNTON'S ALMSHOUSES
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Residents' contributions 38,159 Investment income 2 8,621 Total 46,780 EXPENDITURE ON Charitable activities Almhouse expenses 32,725 Net gains on investments 12,955 NET INCOME/(EXPENDITURE) 27,010 RECONCILIATION OF FUNDS Total funds brought forward 397,434 TOTAL FUNDS CARRIED FORWARD 424,444 |
Restricted fund £ - 91 91 240 77 (72) 3,939 3,867 |
2024 Total funds £ 38,159 8,712 46,871 32,965 13,032 26,938 401,373 428,311 |
2023 Total funds £ 35,081 5,047 |
|---|---|---|---|
| 40,128 | |||
| 32,179 | |||
| 16,531 | |||
| 24,480 376,893 |
|||
| 401,373 |
The notes form part of these financial statements
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DUNTON'S ALMSHOUSES
BALANCE SHEET
31 DECEMBER 2024
| Unrestricted fund Notes £ CURRENT ASSETS Debtors 4 702 Investments 5 295,344 Cash at bank and in hand 129,286 425,332 CREDITORS Amounts falling due within one year 6 (888) NET CURRENT ASSETS 424,444 TOTAL ASSETS LESS CURRENT LIABILITIES 424,444 NET ASSETS 424,444 FUNDS 7 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - 3,290 750 4,040 (173) 3,867 3,867 3,867 |
2024 Total funds £ 702 298,634 130,036 429,372 (1,061) 428,311 428,311 428,311 424,444 3,867 428,311 |
2023 Total funds £ 3,500 281,572 117,389 402,461 (1,088) 401,373 401,373 401,373 397,434 3,939 401,373 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 11 August 2025 and were signed on its behalf by:
Trustee
The notes form part of these financial statements
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DUNTON'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
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 fair value.
Property
The property comprises:
(a) Nine almshouses situated in Crown Street, Dedham founded in 1571 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 £1,918,959.
2. INVESTMENT INCOME
| Farmland rent Deposit account interest Dividends |
2024 £ 1,750 6,643 319 8,712 |
2023 £ 1,750 2,895 402 |
|---|---|---|
| 5,047 |
3. TRUSTEES' REMUNERATION AND BENEFITS
Mr C Biggins, a trustee, was paid £NIL (2023 £1,400) for his services as clerk.
During 2024, the current clerk, who is not a trustee, was reimbursed expenses of £47.48.
One of the trustee was reimbursed the sum of £105 expenses for attending a CPD Course.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
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DUNTON'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
| 4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Amount due to be transferred from restricted funds 5. CURRENT ASSET INVESTMENTS Unlisted investments Other Market value General Fund 2024 COIF Charities Investment Fund £ Capital account 96,885 Saffron Building Society 1 Year Savings Bond 84,162 M & G Investments Common investment funds: Duntons Almshouses 109,076 Sophia Hewitts Bequest 5,221 TOTAL £295,344 Reverend CA Jones Charity COIF Charities Investment Fund £3,290 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 7. MOVEMENT IN FUNDS At 1.1.24 £ Unrestricted funds General fund 397,434 Restricted funds Reverend CA Jones Charity 3,939 TOTAL FUNDS 401,373 |
4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Amount due to be transferred from restricted funds 5. CURRENT ASSET INVESTMENTS Unlisted investments Other Market value General Fund 2024 COIF Charities Investment Fund £ Capital account 96,885 Saffron Building Society 1 Year Savings Bond 84,162 M & G Investments Common investment funds: Duntons Almshouses 109,076 Sophia Hewitts Bequest 5,221 TOTAL £295,344 Reverend CA Jones Charity COIF Charities Investment Fund £3,290 6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 7. MOVEMENT IN FUNDS At 1.1.24 £ Unrestricted funds General fund 397,434 Restricted funds Reverend CA Jones Charity 3,939 TOTAL FUNDS 401,373 |
2024 £ 529 - 173 702 2024 £ 214,471 84,163 298,634 |
2024 £ 529 - 173 702 2024 £ 214,471 84,163 298,634 |
2023 £ 1,005 2,295 200 3,500 2023 £ 201,572 80,000 281,572 |
2023 £ 1,005 2,295 200 3,500 2023 £ 201,572 80,000 281,572 |
2023 £ 1,005 2,295 200 3,500 2023 £ 201,572 80,000 281,572 |
|
|---|---|---|---|---|---|---|---|
| Market value | Market value |
Cost | |||||
| 2024 | 2023 | ||||||
| £ | £ | £ | |||||
| 96,885 | 92,130 | 36,790 | |||||
| 84,162 | 80,000 | 80,000 | |||||
| 109,076 | 100,978 | 53,727 | |||||
| 5,221 | 5,051 | 1,566 | |||||
| £295,344 | 278,159 | £172,083 | |||||
| £3,290 | £3,413 | £162 | |||||
| 2024 £ 1,061 Net movement in funds £ 27,010 (72) 26,938 |
2023 £ 1,088 At 31.12.24 £ 424,444 3,867 428,311 |
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DUNTON'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
7. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 46,780 (32,725) Restricted funds Reverend CA Jones Charity 91 (240) TOTAL FUNDS 46,871 (32,965) Comparatives for movement in funds At 1.1.23 £ Unrestricted funds General fund 373,135 Restricted funds Reverend CA Jones Charity 3,758 TOTAL FUNDS 376,893 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 40,034 (31,979) Restricted funds Reverend CA Jones Charity 94 (200) TOTAL FUNDS 40,128 (32,179) |
Gains and Movement losses in funds £ £ 12,955 27,010 77 (72) 13,032 26,938 Net movement At in funds 31.12.23 £ £ 24,299 397,434 181 3,939 24,480 401,373 Gains and Movement losses in funds £ £ 16,244 24,299 287 181 16,531 24,480 |
|---|---|
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DUNTON'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
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DUNTON'S ALMSHOUSES
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| INCOME AND ENDOWMENTS Investment income Farmland rent Deposit account interest Dividends Charitable activities Residents' contributions Total incoming resources EXPENDITURE Charitable activities General repairs Rates and water Insurance Light and heat Christmas gifts to residents Sundries Support costs Governance costs Clerk's honorarium Accountancy and other professional fees Total resources expended Net income before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Net income |
2024 £ 1,750 6,643 319 8,712 38,159 46,871 26,853 1,443 1,500 1,232 240 77 31,345 - 1,620 1,620 32,965 13,906 13,032 26,938 |
2023 £ 1,750 2,895 402 |
|---|---|---|
| 5,047 35,081 |
||
| 40,128 23,713 1,637 1,469 584 200 322 |
||
| 27,925 1,500 2,754 |
||
| 4,254 | ||
| 32,179 | ||
| 7,949 16,531 |
||
| 24,480 |
This page does not form part of the statutory financial statements
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