Restered charity 209795 Freeston and Sagavs Almshouses Unaudlted Hnanclalstslements for the year ended 31 December 2023
Free0 and Saga¢sAirnshouses Contents ofthe Flnanclal Statements foitheyearended31 December2023 Page Charity Informatlon Report otthe Trustees 2to3 Independent Exaffllner's Report Receipts and Payments Account statement of Assets and Llabiiitles Notesto the Hnanclal Statements 7t08
Freeslon and Saga¢sAirnshouses Charity Information forthe yeai ended 31 December 2023 TRUSTEES at the date ofthis report Mr B D Thaler Ichaiimanl Reverend A Muiray (Vice Chairman) Reverend L Tinniswood Mfs S E Blezard Mr R M Sanderson Mrj Brennan MrR Tosta CLERK Mrj C Brearton FCA PRINCIPALADDRESS l Home Fami Court Bretton Wakefield West Yorkshire WF4 4TR REGISTERED CHARITY NUMBER 209795 INDEPENDENTEXAMINER Hansons St Oswald House St Oswald Street Castlelord West Yorkshire WFIO IDH BANKERS Bafclays Bank plc Trinity Walk Shopping Centre Teall Way Wakefield West Yorkshire WFI IQS Page i
Fleeston and Sagarfs Almshouses Report of theTrustees forthe year ended 31 December 2023 OBJECTIVES AND ACTIVITIES Oblectlve5 and alms The provision and maintenance of almshouses for person5 in need in the area comprisingthe town of Nortnanton, the Parishes of ShaTlstotTr and Wamilield-cum-Heath and the area of the former Parish of Ackton and Snydale, au in the countyof Westyoikshire. Subject to the above. the Trustees shall applythe income ofthe charlty for the benefit of the residents in the almshouses of the charity OT any ofthem in such manner as the Trusteesthlnk lit from tlme to time. The Trustees continue to ensure that the charity fulfilisthe requirements set out in the schemè. Careful management of the charlty- s assets, including consioerable attention to the maintenance and refurbishment ofthe properties and the grounds. ensures that the charity provides residenls with comfortable, affordable homes that meettheir special needs and enable them to Ilve independently. signlflcant arfivltles The prlnclpal actlvlty of the charlty Is to provl(Je soclal houslng forthose In need In ihe area of beneflce, sultable for the elderlyorwith mobility needs. STRUCTURE, GOVERNANCE AND MANAGEMENT The charity is governed by a scheme dated l May 1987which supercedes all previous schemes. Each of the trustees is appointed as follows: Trustees al the Oaie of this report Ex-offlclo.. The Vlcar ol Ihe Eccieslastlcal Parish ofAiI Saints. Normanton The Wcar of the Ecclesiastical Parish of St Peter. Warmfield Reveiend A Murray Reverend L Tinniswood Norninative- Featherstone Town Council Normanton Town Council Warmfield-cum-Heath Parish Council Vacant Mrs S E Blezard Mr R M San(lerson Co-optative-. Up to lour persons who through resl(Jence. occupatlon or employment. orotheThvi5e have special knowledge ot the area of benefit Mr B D Thaler Mr J Brennan MrR Tosta Onevacancy The trustees meet everythree months. Theirtenn of office is fouryears apartfrom the co-optative trusteeswhose term is fNe years. Page 2
Freeston and Sagafs Almshouses Report olthe Trustees for the year ended 31 December 2023 RESERVES POLICY The trustees have not adopted a formal reserves wticy. bLrt they keep the finances of the charity under close reviewand make (ieci5ions accordinoy. Approve(5 bythe trustees on 25 September 2024 and signed on their behalf by: Mr B D Thaler Mrs S E Blezard Page 3
Independent Examiners Reporttothe Trustees of Fieeston and Sagafs Almshouses I reportto the trustees on my examination of the accounts ofthe charity Ilhe Twsfi for the year ended 31 December2023SetoOn pages3to 8. Responslblllties and basis of report As tne charity tiusiees of the Trust, you are responsible torthe prepaiaiion Of tne accounts in accordance with the requirements of the CharitiesAct2011 Ilhe Act-l- I report in respect ol my examination of theTrusfs accounts carrieo out under section 145 ofthe 2011 Act and in carrying out my examination. I have foltowed the applicable Directions given by the Charity Commission unoer section 1451511bl of the ACL Independent examlner's ststement I have completed my examination. I contirm that no material matters have come to my attentiorÉ in connection with the examination which gives me cause to believe that in, any materlal respect- accounting recorlswere not kept in accoroanceythh section 130 of the Act or the accounts do not accor(i withthe accounting records I have no concems an(J have come across no other matters in connection with the examination to which attention shoul(J be drawn in orderto enable a proper understsndingof the accounts to be reached. MarkAndrewUpex Hansons St Oswald House St oswald Street Castleford West Yorkshire WFIO IDH Page 4
Freeston and Sagafs Almshouses Recelpts and Payments Account lor the year ended 31 December 2023 2023 2022 Incoming resources Maintenance contributions Investment income Wayleave Unsecured loans from indNiduaLs received Compensation received 69,573 30 73.490 31 its.000 516 75.000 189.119 148,523 Resources expended Routine maintenance Insurance 3,982 14.206 1,897 260 952 463 Electricity Telephone Suntjry expenses Subscriptions Legalfees Profe5sionalfees 1,107 522 1,055 355 1500 215 Mortgage repaid NationalAlmshouse Association loan repaid Unsecured Loan5 from individuals repaid The Normanton Freeston Foundation loan repaid Mortgage interest Loan interest- Kingscrowrt Finance Loan interest- unsecured loans from indiwduals Accountant's fees Building retention released 140 8,400 107.700 10,000 2,089 126,380 1014 42,047 3,483 4.830 3.500 159,852 21x1.123 Net receiptsiipaymentsl forthe year 111,004} 111.3291 Reconclllatlon of funds Totalfunrjs brought forward 13,190 24.519 Total funds carried foEward 2,186 13,190 Page 5
Freeston and Sagafs Almshouses ststement ofAssets and Llablllties as at31 December 2023 31.12.23 31.12.22 Notes As5etS Cash at bank 2,186 13,191 Investments 2.900 Almshouses 1.463.792 1.463,792 Computerequipment 1.468.878 1,479,884 Liabilities Secured loans i.on935 920.988 NationalAlmshouse Association loan 16,800 25,200 Unsecured loans from individua15 181852 286,732 Other accnJe¢J expenses 8,210 2,820 1.280,797 1.235.740 Contingent liability- a grantfrom The Housing Corporation of Ul.293to re¢Juce the cost ot an almshouse development is repayable ulldercertain ciicumstsnces. piimarily foliowingthe sale of the property, butwill nomatiy r)e restricted to the net proceeds. Page 6
Freeston and Sagafs Almshouses Notesto the Financial Statements forthe year ended 31 December 2023 ACCOUNTING POLICIES Basls of preparlngtheflnan¢ial ststements The financial statements of the charity have been prepafed on a receipts and payments basis. Figures for the year en(Jed 31 December2022 were reported on an accruals basis but have been restated in these financial statements on a cash basis. INVESTMENTS 31.12.23 31.12.22 Cost Barclays Sterling Bond Charity Otficial Investment Fun(J 2,619 281 2,619 281 2.900 2.900 Marketvalue Barclays Sterling Bond Charity Official Investment Fund 2,928 4.030 3.914 ALMSHOUSES 31.12.23 31.12.22 Cost 1,463,792 1,463,792 Market value 1,745,01)0 1,510,000 The charity- s properties at Chartes Kirk View, NorTnanton were valued on 17 April 2024 on the basi5 of market value subject to existingtenancies at £1,345.000. The valuation was carried out by Mr Alex McNeil MRICS. of Bramleys. Chartered Surveyors. Hudderslield. The charity" s properties at Kirkthorpe Lane. Wakefield were valued on 17April 2024 on the basis of market value subject to existingtenancies at £400,000. The valuation was also cairied out by Mr McNeil. Page 7
Fteeston and SagarfsAim$hou$e$ Notes to the Ffnanclal Statements forthe yearended 31 Decembei 2023 SECURED LOANS 2023 2022 The Nofmanton Fwee5ton Foundation 114.000 116,000 785,524 19,464 Kingscrown Finance Mortgage 19.250 1,072,935 920,988 The loans are secure(J on the almshouses and a field. Accrued interest and charges are included in the amounts owinEto The Normanton Freeston Foundation and Kingscrown Finance. Mrs S E Blezard. Mr B D Thaler. Mr KWILson and Reverend A Murray are directors of The Normanton Freeston FouniFaiion Trustee Limited which is the cotporate trustee of The Normanton Freeston Foundation. UNSECURED LOANS FROM INDIVIDUALS 2023 2022 182.852 286.732 An individualwaived £IOO.000 of his loan Ouring2023. Accrued interest is included in the amounts shown above. Page 8