Wye Almshouse Charity
Trustees Report for Year Ending 31[st] March 2024
Summary of Activities
One Almshouse became vacant towards the end of 2023 and a full refurbishment was completed ready for the new resident to move in on 1[st] April 2024. One of the residents moved from the old Almshouse building to one of the bungalows, after improvements were made to the kitchen and some redecoration carried out.
The Resident’s Contributions for the year amounted to £26,926 The Trustees reviewed the Resident’s Contributions as in previous years with a small increase made effective from 1[st] May 2024.
The operating costs were £48,259 significantly higher than previous years. This was due to the large amount of redecoration work carried out on the exterior of both the Old Almshouse and the bungalows, including, repairs to woodwork and total redecoration during the year. In addition to most of the final costs of refurbishing the vacant property being paid in this year’s accounts. Resulting in the total cost for repairs and maintenance amounting to £35.190
Loan repayments amounted to £2,707 and purchase of investments £1,600 resulting in a deficit of £11,005 of expenditure over income. The closing bank balance stands at £44,543
Risk Management
The Trustees have examined the major strategic, business and operational risks which the Charity faces and confirm that systems have been established to enable the Charity to lessen or mitigate those risks.
Appointment of Trustees
No more than seven members make up the Register of Trustees. Three Trustees are appointed by the Parish Council, three are nominated by the other Trustees, the seventh the Vicar of Wye or his representative. Normally when a Trustee retires a new one is appointed as soon as possible however there may be a gap of a few months before this can be achieved.
On behalf of the Trustee
S.K.Gower Clerk to the Trustees
Independent Examiner’s Report to the Trustees of Wye Almshouse Charity
This is to certify that I have examined the Cash Book and all supporting records of the Charity for the year ending 31[st] March 2024 and find them to be a true and accurate record of the transactions as reflected in the Income and Expenditure Accounts attached to this Report.
I believe that the ongoing requirements to keep records of financial transactions in the form of a Receipts and Payments Statement have been met.
Date
J. Burley
Independent Examiner
Wye Almshouse Charity Statement of Financial Activities for the year ended 31 March 2024, incorporating an Income and Expenditure Account
| Income Investment Income Land Rental Weekly Maintance Contributon Total income Expenditure Admin Expenses Miscelleneous Repairs & Maintenance Services Total expenditure Net (expenditure)/income before investment gain Net gain on investments and reducton in loan o/s Net income and movement in funds Reconciliaton of funds Fund balances brought forward at 1 April Fund balances carried forward at 31 March |
2024 £ 5,628 4,700 26,926 37,254 (4,949) (930) (35,190) (7,189) (48,258) (11,005) 29,880 18,875 466,671 485,546 |
2023 £ 5,540 7,050 26,712 |
|---|---|---|
| 39,302 | ||
| (3,846) (7,450) (20,730) (5,098) |
||
| (37,124) | ||
| 2,178 10,428 |
||
| 12,606 454,065 |
||
| 466,671 |
| Balance sheet As at 31 March 2024 Fixed Assets M&G Charity Multi Asset Number of Income Shares 5,488 Number of Accumulaton Shares 2,274 Charities’ Official Investment Fund Number of Units 3,352 Invesco Equity Income ( UK) Income Shares Number of Income Shares 109,931 Total Investments Current Assets Cash at bank Current Liabilites Creditors: amounts falling due within one year Net assets Total Charity Funds |
31-Mar-24 4,989 260,619 68,490 110,348 444,446 44,543 (3,443) 485,546 485,546 |
31-Mar-23 4,902 243,221 62,805 102,038 |
|---|---|---|
| 412,966 | ||
| 59,631 (5,926) |
||
| 466,671 | ||
| 466,671 |
Signed R. Judge Signed N.Russell
Balance sheet As at 31 March 2024
| Fixed Assets M&G Charity Multi Asset Number of Income Shares 5,488 Number of Accumulaton Shares 2,274 Charities’ Official Investment Fund Number of Units 3,352 Invesco Equity Income ( UK) Income Shares Number of Income Shares 109,931 Total Investments Current Assets Cash at bank Current Liabilites Creditors: amounts falling due within one year Net assets Total Charity Funds Signed R. Judge |
31-Mar-24 4,989 260,619 68,490 110,348 444,446 44,543 (3,443) 485,546 485,546 |
31-Mar-23 4,902 243,221 62,805 102,038 412,966 59,631 (5,926) 466,671 466,671 Signed N.Russell |
|---|---|---|
Wye Almshouse Charity Financial Activities 1st April 2023 - 31st March 2024
| INCOME Investment Income Land Rental Weekly Maintance Contributon Total INCOME EXPENDITURE Admin Clerks Renumeraton Misc Admin Costs Subscriptons Total ADMIN EXPENSES Micellaneous Loan Repayments Residents Gifs and Lunch Securites Miscellaneous Costs Total MISCELLANEOUS COSTS Repairs & Maintenance Electrical Gardening General maintenance Boiler Servicing Plumbing Total REPAIRS AND MAINTENANCE Services EDF Electric Insurance Lifeline Alarm System SE Water Micellaneous costs Total SERVICES Total EXPENDITURE |
5,628.11 4,700.00 26,925.64 37,253.75 3,660.00 630.36 659.00 4,949.36 2,707.83 318.20 1,600.00 311.43 4,937.46 2,190.00 27,443.50 1,495.34 4,060.80 35,189.64 1,524.00 1,482.10 449.40 2,105.44 1,628.28 7,189.22 52,265.68 |
|---|---|
Wye Almshouse Charity
Trustees Report for Year Ending 31[st] March 2024
Summary of Activities
One Almshouse became vacant towards the end of 2023 and a full refurbishment was completed ready for the new resident to move in on 1[st] April 2024. One of the residents moved from the old Almshouse building to one of the bungalows, after improvements were made to the kitchen and some redecoration carried out.
The Resident’s Contributions for the year amounted to £26,926 The Trustees reviewed the Resident’s Contributions as in previous years with a small increase made effective from 1[st] May 2024.
The operating costs were £48,259 significantly higher than previous years. This was due to the large amount of redecoration work carried out on the exterior of both the Old Almshouse and the bungalows, including, repairs to woodwork and total redecoration during the year. In addition to most of the final costs of refurbishing the vacant property being paid in this year’s accounts. Resulting in the total cost for repairs and maintenance amounting to £35.190
Loan repayments amounted to £2,707 and purchase of investments £1,600 resulting in a deficit of £11,005 of expenditure over income. The closing bank balance stands at £44,543
Risk Management
The Trustees have examined the major strategic, business and operational risks which the Charity faces and confirm that systems have been established to enable the Charity to lessen or mitigate those risks.
Appointment of Trustees
No more than seven members make up the Register of Trustees. Three Trustees are appointed by the Parish Council, three are nominated by the other Trustees, the seventh the Vicar of Wye or his representative. Normally when a Trustee retires a new one is appointed as soon as possible however there may be a gap of a few months before this can be achieved.
On behalf of the Trustee
S.K.Gower Clerk to the Trustees
Independent Examiner’s Report to the Trustees of Wye Almshouse Charity
This is to certify that I have examined the Cash Book and all supporting records of the Charity for the year ending 31[st] March 2024 and find them to be a true and accurate record of the transactions as reflected in the Income and Expenditure Accounts attached to this Report.
I believe that the ongoing requirements to keep records of financial transactions in the form of a Receipts and Payments Statement have been met.
Date
J. Burley
Independent Examiner