Wye Almshouse Charity
Trustees Report for Year Ending 31[st] March 2025
Summary of Activities
Renovation to the Almshouse that had become vacant towards the end of 2023 was finally completed and a new resident moved in on 1[st] April 2024. Having been a resident of Wye for some years they found it very easy to settle into their new home.
An electrical inspection in addition to the annual boiler servicing and gas safety checks were carried out in all the properties. De-humidifiers were supplied to all the residents which have proved very effective.
The Resident’s Contributions for the year amounted to £30,738. 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 £47,528 similar to the previous year, due in part to some of the costs of renovating the vacant property paid in this year. Other work carried out during the year including repairs to the Old Almshouse roof, converting one-bathroom into a shower room and general maintenance and repair work.
Resulting in the total cost for repairs and maintenance amounting to £35.501 The final loan repayments amounted to £3,608 were paid off during this year. Purchase of investments were m £1,600 resulting in a deficit of £8,618 of expenditure over income.
The closing bank balance stands at £30,717
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 2025 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 2025 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 before investment gain Net gain on investments Net income and movement in funds Reconciliaton of funds Fund balances brought forward at 1 April Fund balances carried forward at 31 March |
2025 £ 5,822 2,350 30,738 38,910 (4,614) (2,807) (35,501) (4,606) (47,528) (8,618) 16,642 8,024 485,546 493,570 |
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 |
Balance sheet As at 31 March 2025
| Fixed Assets M&G Charity Mult Asset Number of Income Shares 5,488 Number of Accumulaton Shares 2,274 Charites’ Ofcial 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-25 5,108 280,306 65,299 112,140 462,853 30,717 0 493,570 493,570 |
31-Mar-24 4,989 260,619 68,490 110,348 444,446 44,543 (3,443) 485,546 485,546 Signed N.Russell |
|---|---|---|
Wye Almshouse Charity
Trustees Report for Year Ending 31[st] March 2025
Summary of Activities
Renovation to the Almshouse that had become vacant towards the end of 2023 was finally completed and a new resident moved in on 1[st] April 2024. Having been a resident of Wye for some years they found it very easy to settle into their new home.
An electrical inspection in addition to the annual boiler servicing and gas safety checks were carried out in all the properties. De-humidifiers were supplied to all the residents which have proved very effective.
The Resident’s Contributions for the year amounted to £30,738. 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 £47,528 similar to the previous year, due in part to some of the costs of renovating the vacant property paid in this year. Other work carried out during the year including repairs to the Old Almshouse roof, converting one-bathroom into a shower room and general maintenance and repair work.
Resulting in the total cost for repairs and maintenance amounting to £35.501 The final loan repayments amounted to £3,608 were paid off during this year. Purchase of investments were m £1,600 resulting in a deficit of £8,618 of expenditure over income.
The closing bank balance stands at £30,717
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 2025 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