## **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