## **SCOTT GOULD HOUSE & CHARITY**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2020**
DAVID COLLARD AND CO BRUNEL HOUSE | COOK WAY | TAUNTON | SOMERSET | TA2 6BJ T. 01823 253778
E. INFO@DAVIDCOLLARDANDCO.CO.UK
## **SCOTT GOULD HOUSE & CHARITY**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2020**
## **INDEX**
||**Page**|
|---|---|
|Legal and administrative details|1|
|Trustees’ report|2-3|
|Independent examiner’s report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7-9|
|For the members and trustees only:||
|Detail of statement of financial activities|10-11|
|Management summary of receipts and payments|12|
## **SCOTT GOULD HOUSE & CHARITY**
|**ADDRESS OF CHARITY:**
**CHAIRMAN**
**VICE CHAIRMAN**
**CLERK**
**TRUSTEES**
**ACCOUNTANTS**
**BANKERS**|**LEGAL AND ADMINISTRATIVE DETAILS**
**CHARITY NUMBER: 208887**
SCOTT GOULD HOUSE
NORTH STREET
SOMERTON, SOMERTON
TA11 7NX
MR JOHN SANGWINE
HILLHEAD COTTAGE, NEW STREET, SOMERTON, TA11 7NS
MRS CLARA JADWIGA CARLYON
HOGARTH COTTAGE, NORTH STREET, SOMERTON, TA11 7NY
MRS VALERIE SANGWINE
HILLHEAD COTTAGE, NEW STREET, SOMERTON, TA11 7NS
DR ELAINE GRIFFITHS
TOLPEDN HOUSE, NEW STREET, SOMERTON, TA11 7NT
MRS MYRNA HAWKINS
4 THE THATCH, BEHIND BERRY, SOMERTON, TA11 6SS
DAVID COLLARD AND CO LIMITED
BRUNEL HOUSE, COOK WAY, TAUNTON, SOMERSET TA2 6BJ
TSB BANK PLC
MARKET PLACE, SOMERTON, TA11 7NB|
|---|---|
Page 1
## **SCOTT GOULD HOUSE & CHARITY**
## **TRUSTEES REPORT**
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:-
- ❖ select suitable accounting policies and then apply them consistently;
- ❖ make judgements and estimates that are reasonable and prudent;
- ❖ state whether applicable accounting standards and statements of recommended practice have been followed;
- ❖ prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **RISK MANAGEMENT**
The Trustees have a risk management strategy which comprises:-
- ❖ an annual review of the risks the charity may face;
- ❖ the establishment of systems and procedures to mitigate those risks identified;
- ❖ the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.
Particular attention has been focussed on non financial risks of fire, health and safety of tenants and public.
A key element is the management of financial risk in the reserves policy and it’s regular review by the Trustees.
## **OBJECTIVES OF THE CHARITY**
a) Defraying all proper costs, charges and expenses of the administration and management of the Charity in respect of the property of the Charity. b) Providing funds for the maintenance of the New Street Home.
## **TRUSTEES AND GOVERNANCE**
The body of Trustees shall consist of seven competent persons.
Page 2
## **SCOTT GOULD HOUSE & CHARITY**
## **TRUSTEES REPORT**
## **REVIEW OF ACTIVITIES AND ACHIEVEMENTS**
This year was a year unlike any other as we were hit by Covid 19!
However, we still managed to install a new bathroom in Flat 2 which was very much appreciated. We also put a new non-slip flooring in Flats 1 and 2 bathrooms.
we continued the monthly visits, from a distance of course. Everyone made an extra effort to wave to the residents as we passed by. thankfully they all coped extremely well.
One flat continues to be empty. we had a couple of applicants but they were not suitable an advertising and interviewing was put on hold because of the pandemic.
## **ON BEHALF OF THE TRUSTEES**
Page 3
## **SCOTT GOULD HOUSE & CHARITY**
## **YEAR ENDED 31 DECEMBER 2020**
## **Independent Examiner’s Report to the Trustees of Scott Gould House & Charity**
I report on the accounts of the Trust for the year ended 31 December 2020, which are set out on pages 5 to 9.
## **Respective responsibilities of trustees and examiner**
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 [the 1993 Act]) and that an independent examination is needed.
It is my responsibility to:
- ❖ examine the accounts (under section 43(3)(a) of the 1993 Act);
- ❖ to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43(7)(b) of the 1993 Act); and
- ❖ to state whether particular matters have come to my attention.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements
- ❖ to keep accounting records in accordance with section 41 of the 1993 Act; and
- ❖ to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Gavin Brown FCCA**
David Collard and Co; Brunel House, Cook Way, Taunton, Somerset, TA2 6BJ
Page 4
## **SCOTT GOULD HOUSE & CHARITY**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 DECEMBER 2020**
|**Unrestricted**
**funds**
2020
**Note**
£
INCOMING RESOURCES
Donations
-
Sundry income
-
Income from activities in furtherance
of charitable objects
27,582
Repaid deposit and overpaid rent
-
Investment income
2
––––––––
TOTAL INCOMING RESOURCES
27,584
––––––––
RESOURCES EXPENDED
Charitable expenditure
**2**
Grants payable in furtherance
of the charitable objectives
-
Cost of activities for charitable
objectives
19,292
Support costs
1,607
Management and administration
240
––––––––
TOTAL RESOURCES EXPENDED
21,139
––––––––
NET INCOMING/(OUTGOING) RESOURCES
6,445
Gains and losses on the revaluation and
**8**
disposal of investment assets
(5,532)
Transfer to capital reserve
-
––––––––
NET MOVEMENT IN FUNDS
913
TOTAL FUNDS BROUGHT FORWARD
213,042
––––––––
TOTAL FUNDS CARRIED FORWARD
213,955|2019
£
-
-
26,920
-
-
––––––––
26,920
––––––––
-
27,144
1,883
240
––––––––
29,267
––––––––
(2,347)
26,816
-
––––––––
24,469
188,573
––––––––
213,042|
|---|---|
Page 5
## **SCOTT GOULD HOUSE & CHARITY**
## **BALANCE SHEET AS AT 31 DECEMBER 2020**
|Endowment Unrestricted
funds
funds
Note
£
£
FIXED ASSETS
Tangible assets
**6**
83,888
-
Investments
**7**
-
168,316
––––––––
––––––––
83,888
168,316
––––––––
––––––––
CURRENT ASSETS
Debtors and prepayments
-
795
Cash at bank - Lloyds TSB Bank
-
45,482
Cash at bank - Lloyds TSB Bank – A/c No.2
-
902
––––––––
––––––––
TOTAL CURRENT ASSETS
-
47,179
––––––––
––––––––
CREDITORS: amounts falling
due within one year
-
1,540
––––––––
––––––––
NET CURRENT ASSETS/(LIABILITIES)
-
1,540
––––––––
––––––––
NET ASSETS
83,888
213,955
CAPITAL FUNDS
Permanent endowment funds
83,888
-
INCOME FUNDS
Unrestricted funds
**8**
-
213,955
––––––––
––––––––
83,888
213,955|2020
Total the
year
£
83,888
168,316
––––––––
252,204
––––––––
795
45,482
902
––––––––
47,179
––––––––
1,540
––––––––
1,540
––––––––
297,843
83,888
213,955
––––––––
297,843||2019
Total last
year
£
83,888
173,848
––––––––
257,736
––––––––
1,353
38,481
900
––––––––
40,734
––––––––
1,540
––––––––
1,540
––––––––
296,930
83,888
213,042
––––––––
296,930|
|---|---|---|---|
The financial statements were approved by the Committee of Management on
……………………… _(insert date)_
Page 6
**SCOTT GOULD HOUSE & CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2020**
## **1. ACCOUNTING POLICIES**
## **Basis of accounting**
The financial statements were prepared on the historical cost basis, with the exception of investments which are included at market value.
These accounts have been prepared in accordance with accounting standards and Accounting and Reporting by Charities - Statement of Recommended Practice (SORP 2005) and Charities Act 1993.
## **Housing properties**
Scott Gould House & Charity almshouses were constructed in the nineteenth century and there is no record of the original cost and no value is attributed thereto. The Housing Properties cost relate to improvements carried out since 1979 which were funded by a Housing Corporation grant and from Scott Gould House & Charity’s own resources. The properties are maintained in a state of repair such that their estimated residual value is not less than their improvement cost or carrying amount.
## **Extraordinary repairs**
Costs of extraordinary repairs, unless representing improvements to the properties, are charged to the revenue account in the year in which they are incurred.
## **Cyclical repairs and maintenance reserve**
Scott Gould House & Charity has established a regular programme of cyclical repairs and maintenance. Costs are charged to the revenue account in the year in which they are incurred.
This reserve represents amounts set aside for cyclical maintenance to meet costs in excess of budgeted expenditure for any year.
2020 2019 £ £ **Fees for examining the accounts** Fee for independent examiner’s report 240 240
## **2. EXPENDITURE a) Fees for examining the accounts**
Page 7
## **SCOTT GOULD HOUSE & CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2020**
|**2.**
**EXPENDITURE (Continued)**
**b) Analysis of resources expended**
**Costs of activities in furtherance of charity’s objectives**
House expenses
**Support costs**
National Association of Almshouses
Ombudsman subscription
Printing, stationery and sundries
Clerk’s honorarium and expenses
**Management and administration costs**
Accountant
Quinquennial Survey
**3.**
**GRANTS MADE**
Total grants to individuals
**4.**
**CLERK’S HONORARIUM**
Honorarium and expenses
Average number of employees in the year|2020
£
19,292
179
7
95
1,320
––––––––
1,601
240
-
––––––––
240
-
2020
£
1,320
1|2019
£
27,144
170
7
186
1,520
––––––––
1,883
240
-
––––––––
240
-
2019
£
1,520
1|
|---|---|---|
Page 8
**SCOTT GOULD HOUSE & CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2020**
||2020|2019|
|---|---|---|
||£|£|
|**TRUSTEES AND OTHER RELATED PARTIES**|||
|There were no related party transactions|||
|or expenses paid.|||
|**TANGIBLE FIXED ASSETS**|||
|Freehold land and buildings at cost of improvement|||
|expenditure since 1979|83,888|83,888|
## **5. TRUSTEES AND OTHER RELATED PARTIES**
## **6. TANGIBLE FIXED ASSETS**
## **7. INVESTMENT ASSETS**
National Association of Almshouses Common Investment Fund Accumulation shares (managed by the M & G Group)
## **8.**
|No.
£
Cyclical Maintenance Fund 1,604
General Fund
202
Scott Gould Charity
13
––––––––
1,819
**UNRESTRICTED FUNDS**
Balance at 01.01.2020
Surplus on revaluation
of investments
Net surplus/ (deficit) of resources
Balance at 31.12.2019|1983 value Market value
Surplus on Market value
plus cost
at 1.1.20
revaluation end of year
£
£
£
£
6,963
153,273
(4,852)
148,421
1,542
19,302
(611)
18,691
101
1,273
(69)
1,204
––––––––
––––––––
–––––––– ––––––––
8,606
173,848
(5,532)
168,316
TOTAL
Cyclical
Charity
General
Maintenance
Fund
Fund
& Extraordinary
Repair Fund
£
£
£
£
213,042
148,738
1,273
63,031
(5,532)
(4,852)
(69)
(611)
6,445
-
-
6,445
––––––––
––––––––
––––––––
––––––––
213,955
143,886
1,204
68,865|
|---|---|
Page 9
For the Trustees only
## **SCOTT GOULD HOUSE & CHARITY**
## **DETAIL OF STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 DECEMBER 2020**
|||2020||2019|
|---|---|---|---|---|
|||£||£|
|**INCOME FROM ACTIVITIES IN FURTHERANCE**|||||
|**OF CHARITABLE OBJECTS**|||||
|INCOME FROM LETTINGS|||||
|Rents||27,582||26,920|
|Refund deposit and overpaid rent||-||-|
|Service charges||-||-|
|||––––––––||––––––––|
|||27,582||26,920|
|INVESTMENT INCOME|||||
|Interest received|||||
|National Savings|-||-||
|National Westminster|2||-||
||––––––––||––––––––||
|||-||-|
|||––––––––||––––––––|
|**TOTAL INCOMING RESOURCES**||27,584||26,920|
|||––––––––||––––––––|
|**RESOURCES EXPENDED - CHARITABLE**|**EXPENDITURE**||||
|GRANTS PAYABLE - Gifts to residents||-||-|
|COST OF ACTIVITIES|||||
|Heat and light|7,696||4,955||
|Insurance|1,149||1,109||
|Water & Rates|2,746||1,963||
|Routine maintenance|7,701||19,117||
||––––––––||––––––––||
|||19,292||27,144|
|SUPPORT COSTS|||||
|National Association of Almshouses|||||
|- subscription|179||170||
|Printing, stationery and sundries|95||186||
|Ombudsman subscription|13||7||
|Clerk’s honorarium and expenses|1,320||1,520||
||––––––––||––––––––||
|||1,607||1,883|
|||––––––––||––––––––|
|Carried forward||20,899||29,027|
Page 10
For the Trustees only
## **SCOTT GOULD HOUSE & CHARITY**
## **DETAIL OF STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 DECEMBER 2020**
|Brought forward
MANAGEMENT AND ADMINISTRATION
Independent Examiner’s Report
240
Quinquennial Survey
-
––––––––
TOTAL RESOURCES EXPENDED
**NET DEFICIT OF RESOURCES**|2020
£
20,899
240
-
––––––––
240
––––––––
21,139
––––––––
**6,445**|2019
£
29,027
240
––––––––
29,267
––––––––
**(2,347)**|
|---|---|---|
Page 11
**SCOTT GOULD HOUSE AND CHARITY**
## **MANAGEMENT SUMMARY OF RECEIPTS AND PAYMENTS**
## **YEAR ENDED 31 DECEMBER 2020**
|**RECEIPTS**|£|**PAYMENTS**|£|
|---|---|---|---|
|Residents’ Maintenance:-||Gas|5,571.63|
|Contributions|28,140.00|Electricity|968.00|
|||Water rates|996.00|
|||Insurance|2,248.52|
|||General maintenance|6,271.46|
|||Fire and Careline|978.55|
|||Sundry expenses|2,293.38|
|||Clerk’s honorarium and expenses|
1,320.00|
|||Cleaning and auditor|491.35|
||––––––––||––––––––|
||28,140.00||21,138.89|
|Current account 31.12.19|38,480.69|Current account 31.12.20
|45,481.80|
||––––––––||––––––––|
||66,620.69||66,620.69|
||‗‗‗‗‗‗‗||‗‗‗‗‗‗‗|
Page 12