REGISTERED CHARITY NUMBER: 210074
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
THOMAS PHILIPOT'S ALMSHOUSE CHARITY
Edwards Chartered Accountants 409-411 Croydon Road Beckenham Kent BR3 3PP
THOMAS PHILIPOT'S ALMSHOUSE CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 13 |
| Detailed Statement of Financial Activities | 14 | to | 15 |
THOMAS PHILIPOT'S ALMSHOUSE CHARITY
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2021
| TRUSTEES | P Cookson |
|---|---|
| C Couves | |
| D Crafter | |
| Ms J Gearing | |
| P Glazebrook | |
| Dr I Jessiman | |
| D Nooney | |
| Ms M Roberts | |
| Ms A Stebbings | |
| Ms M Garrod | |
| Ms S Robinson | |
| PRINCIPAL ADDRESS | Philipot Path |
| London | |
| SE9 5DJ | |
| REGISTERED CHARITY | 210074 |
| NUMBER | |
| INDEPENDENT EXAMINER | Edwards Chartered Accountants |
| 409-411 Croydon Road | |
| Beckenham | |
| Kent | |
| BR3 3PP |
Page 1
THOMAS PHILIPOT'S ALMSHOUSE CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
THE CHARITY
Thomas Philipot's Almshouse Charity is an unincorporated charity, which exists under a Charity Commission Scheme of 14 November 1871 as varied by Schemes of the Commissioners of 22 July 1887, 16 August 1940, 5 September 1963, 14 December 1976 and 24 October 1980.
THE TRUSTEES AND CLERK Paul Cookson Colin Couves David Crafter Maura Garrod Janet Gearing Peter Glazebrook Dr Ian Jessiman David Nooney (Chair) Megan Roberts Sue Robinson Angela Stebbings
Clerk to the Trustees: Linda Clayton
According to the requirements of the Scheme, up to eleven Trustees may be appointed, seven of which must live in Eltham, or within seven miles its parish church, and four of which must live in Chislehurst, or within four miles of its parish church.
When vacancies arise on the Board of Trustees, the remaining Trustees consider which skill set is required. Prospective trustees meet the Trustees beforehand and Trustees will then decide whether to elect them to the Board. If more than one Trustee applies to fill the vacancy, then a vote is held at a Board meeting.
The Trustees met six times during the year. These meetings are supplemented by regular meetings of committees charged with overseeing specific areas of responsibility: finance; maintenance and health and safety; and applications for residency. This expanded committee structure reflects the growing complexity of the Trustees' responsibilities for ensuring good governance. The latter requires the Trustees to regularly review the Charity's range of policies and procedures and, in consultation with the residents, to introduce changes which are of benefit to the functioning of the Charity and the interests of the residents.
PROFESSIONAL ADVISERS
Estate Surveyor: Richard Thomas, R.T. Property Services Ltd, 1 Ely Gardens, Tonbridge, TN10 4NZ
Accountant: Edwards Chartered Accountants, 409-411, Croydon Road, Beckenham, Kent, BR3 3PP
OBJECTIVES AND ACTIVITIES Objectives and aims
The object of the Charity is to provide almshouses for poor people of good character living in the ancient parishes of Eltham and Chislehurst.
Page 2
THOMAS PHILIPOT'S ALMSHOUSE CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
OBJECTIVES AND ACTIVITIES
Significant activities
The objectives of the Charity are to provide high quality housing to poor persons of good character residing within the ancient parishes of Eltham and Chislehurst, and to maximise the benefits for residents in accordance with the Charity's governing Scheme. There is a statutory obligation on the Trustees to demonstrate achievement in public benefit and the Trustees consider they fulfil this obligation by meeting the above objectives and by fostering good relationships between the Almshouses and the local community. During the year six new almspersons were appointed.
The Trustees attach great importance to fostering good relations with the local community. This normally includes regular contact with Contact the Elderly, Eltham Park Baptist Church, Eltham Park Baptist Playgroup, Sisters of Mercy and the local primary and secondary schools. Activities with the schools normally include War Reminiscence afternoons, concerts, carol singing, teas and hamper deliveries. The residents help with the Sisters of Mercy's fundraising efforts, and they also hold regular activities themselves to raise funds for a number of local, national and international charities throughout the year. Unfortunately, most of the regular activities during the year were again cancelled due to the restrictions under the Covid pandemic. However, social gatherings in the garden and small gatherings in the hall took place, when permitted.
The Trustees are keen to foster a strong sense of a Philipot's community and activities are run to ensure that residents become friends, support each other and have lives that are as fulfilling and outward looking as possible. These were significantly curtailed during the year due to the Covid restrictions. The residents missed the regular social contact but initiatives were introduced to ensure they kept contact with each other and socially distanced activities were held outside when allowed.
The Trustees give priority to the health and safety of residents and to maintaining the fabric of the buildings to a high standard although only essential work and health and safety testing was undertaken inside residents' flats because of the pandemic. A Covid Committee was set up early in the pandemic to undertake risk assessments and implement procedures to safeguard the safety of residents, staff and visitors. Demanding cleaning, sanitisation and social distancing procedures, implemented by the Warden, have minimised the impact of the pandemic and protected residents.
Inevitably this year Covid has presented additional significant challenges. However, the Trustees have continued to meet, albeit remotely, to ensure the continued effective governance of the Charity.
The communal gardens are exceptionally maintained and provide an oasis for the residents and their visitors to enjoy. The Trustees are grateful to Jim Staples for his hard work and dedication in maintaining the gardens to such a high standard. Residents are also encouraged to have a small area of the garden to tend, should they wish.
This report provides a welcome opportunity to express appreciation for the loyal, determined and enthusiastic support given to the Charity by all the staff: The Clerk to the Trustees, Linda Clayton; the Warden, Sharon Staples; the gardener, Jim Staples and the Deputy Warden, Anne Weston. The Charity could not run as successfully as it does without the dedication and expertise demonstrated by these Charity employees. The Trustees are also very fortunate for the support and professionalism of the Charity's professional advisors, surveyor Richard Thomas and Edwards Chartered Accountants. Their advice throughout has been much valued, as has the advice of the Almshouse Association. Lastly, and self-evidently, the Charity's effectiveness depends upon a committed body of Trustees with the necessary skills and expertise. All give unstintingly of their time and experience to what is a worthy cause.
FINANCIAL REVIEW
Financial position
The financial situation as at 31st December 2021 remains stable and robust. There have been increases in fixed and current assets and the value of net current assets has increased by some 30%. Voids remain high due to the exceptional turnover of residents but liquidity has improved.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Page 3
THOMAS PHILIPOT'S ALMSHOUSE CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
Approved by order of the board of trustees on 14 April 2022 and signed on its behalf by:
D Nooney - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THOMAS PHILIPOT'S ALMSHOUSE CHARITY
Independent examiner's report to the trustees of Thomas Philipot's Almshouse Charity
I report to the charity trustees on my examination of the accounts of Thomas Philipot's Almshouse Charity (the Trust) for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
John Duggan FCA Institute of Chartered Accountants in England and Wales Edwards Chartered Accountants 409-411 Croydon Road Beckenham Kent BR3 3PP
14 April 2022
Page 5
THOMAS PHILIPOT'S ALMSHOUSE CHARITY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| 2021 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 271,139 Investment income 2 16,893 Total 288,032 EXPENDITURE ON Trading activities 167,398 NET INCOME 120,634 RECONCILIATION OF FUNDS Total funds brought forward 794,110 TOTAL FUNDS CARRIED FORWARD 914,744 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. |
2020 Total funds £ 264,651 20,450 |
|---|---|
| 285,101 245,287 |
|
| 39,814 754,296 |
|
| 794,110 | |
The notes form part of these financial statements
Page 6
THOMAS PHILIPOT'S ALMSHOUSE CHARITY
BALANCE SHEET 31 DECEMBER 2021
| Notes FIXED ASSETS Tangible assets 6 Investments 7 CURRENT ASSETS Debtors 8 Cash at bank and in hand CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 10 NET ASSETS FUNDS 12 Unrestricted funds TOTAL FUNDS |
2021 Unrestricted funds £ 176,529 531,640 708,169 3,695 264,107 267,802 (17,498) 250,304 958,473 (43,729) 914,744 914,744 914,744 |
2020 Total funds £ 176,529 471,174 647,703 8,134 190,623 198,757 (8,105) 190,652 838,355 (44,245) 794,110 794,110 794,110 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 14 April 2022 and were signed on its behalf by:
D Crafter - Trustee
The notes form part of these financial statements
Page 7
THOMAS PHILIPOT'S ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 8
THOMAS PHILIPOT'S ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
2. INVESTMENT INCOME
| Interest receivable Investment income |
2021 £ 1,128 15,765 16,893 |
2020 £ 1,455 18,995 |
|---|---|---|
| 20,450 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Wardens, clerk and gardener No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Trading activities NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 2020 4 4 Unrestricted funds £ 264,651 20,450 285,101 245,287 39,814 754,296 794,110 |
2021 2020 4 4 Unrestricted funds £ 264,651 20,450 285,101 245,287 39,814 754,296 794,110 |
|---|---|---|
| 285,101 245,287 |
||
| 39,814 754,296 |
||
| 794,110 |
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
Page 9
THOMAS PHILIPOT'S ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
6. TANGIBLE FIXED ASSETS
| 6. | TANGIBLE FIXED ASSETS | |
|---|---|---|
| Freehold | ||
| property | ||
| £ | ||
| COST | ||
| At 1 January 2021 and 31 December 2021 | 176,529 | |
| NET BOOK VALUE | ||
| At 31 December 2021 | 176,529 | |
| At 31 December 2020 | 176,529 | |
| 7. | FIXED ASSET INVESTMENTS | |
| Unlisted | ||
| investments | ||
| £ | ||
| MARKET VALUE | ||
| At 1 January 2021 | 471,174 | |
| Reversal of impairments | 60,466 | |
| At 31 December 2021 | 531,640 | |
| NET BOOK VALUE | ||
| At 31 December 2021 | 531,640 | |
| At 31 December 2020 | 471,174 |
There were no investment assets outside the UK.
The investments at the balance sheet date consisted of:
Extraordinary Repair Fund - invested in 4,677 NAACIF accumulation shares and these are shown at a market value of £489,672 (2020: £432,672).
Current Account Investments - invested in 46,044 NAACIF shares and these are shown at a market value of £41,969 (2020: £38,502).
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Other debtors Prepayments and accrued income |
2021 £ 91 681 2,923 3,695 |
2020 £ 1,814 525 5,795 |
|---|---|---|
| 8,134 |
continued...
Page 10
THOMAS PHILIPOT'S ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2021 £ Trade creditors 1,855 Taxation and social security 662 Other creditors 14,981 17,498 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2021 £ Other creditors 43,729 11. LOANS An analysis of the maturity of loans is given below: 2021 £ Amounts falling due in more than five years: Repayable otherwise than by instalments: Other loans more 5yrs non-inst 43,729 12. MOVEMENT IN FUNDS Net Transfers movement between At 1.1.21 in funds funds £ £ £ Unrestricted funds General fund 574,690 138,116 (40,000) Cyclical maintenance fund 37,572 (12,878) 39,100 Hardship fund 27,881 (1,652) 5,000 Lift renewal fund 45,785 - 5,000 Extraordinary repair fund 108,182 (2,952) (9,100) 794,110 120,634 - TOTAL FUNDS 794,110 120,634 - |
2020 £ 1,331 627 6,147 8,105 2020 £ 44,245 2020 £ 44,245 At 31.12.21 £ 672,806 63,794 31,229 50,785 96,130 |
2020 £ 1,331 627 6,147 |
|---|---|---|
| 8,105 | ||
| 2020 £ 44,245 |
||
| 2020 £ 44,245 |
||
| 914,744 | ||
| 914,744 |
continued...
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THOMAS PHILIPOT'S ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Cyclical maintenance fund Hardship fund Extraordinary repair fund TOTAL FUNDS |
Incoming resources £ 289,684 - (1,652) - 288,032 288,032 |
Resources Movement expended in funds £ £ (151,568) 138,116 (12,878) (12,878) - (1,652) (2,952) (2,952) (167,398) 120,634 (167,398) 120,634 |
Resources Movement expended in funds £ £ (151,568) 138,116 (12,878) (12,878) - (1,652) (2,952) (2,952) (167,398) 120,634 (167,398) 120,634 |
|---|---|---|---|
| 120,634 | |||
| 120,634 |
Comparatives for movement in funds
| Unrestricted funds General fund Cyclical maintenance fund Hardship fund Lift renewal fund Extraordinary repair fund TOTAL FUNDS |
At 1.1.20 £ 515,059 17,250 28,275 40,785 152,927 754,296 754,296 |
Net movement in funds £ 74,631 (24,928) (394) - (9,495) 39,814 39,814 |
Transfers between funds £ (15,000) 45,250 - 5,000 (35,250) - - |
At 31.12.20 £ 574,690 37,572 27,881 45,785 108,182 |
|---|---|---|---|---|
| 794,110 | ||||
| 794,110 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Cyclical maintenance fund Hardship fund Extraordinary repair fund TOTAL FUNDS |
Incoming resources £ 285,495 - (394) - 285,101 285,101 |
Resources Movement expended in funds £ £ (210,864) 74,631 (24,928) (24,928) - (394) (9,495) (9,495) (245,287) 39,814 (245,287) 39,814 |
Resources Movement expended in funds £ £ (210,864) 74,631 (24,928) (24,928) - (394) (9,495) (9,495) (245,287) 39,814 (245,287) 39,814 |
|---|---|---|---|
| 39,814 | |||
| 39,814 |
continued...
Page 12
THOMAS PHILIPOT'S ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Cyclical maintenance fund Hardship fund Lift renewal fund Extraordinary repair fund TOTAL FUNDS |
At 1.1.20 £ 515,059 17,250 28,275 40,785 152,927 754,296 754,296 |
Net movement in funds £ 212,747 (37,806) (2,046) - (12,447) 160,448 160,448 |
Transfers between funds £ (55,000) 84,350 5,000 10,000 (44,350) - - |
At 31.12.21 £ 672,806 63,794 31,229 50,785 96,130 |
|---|---|---|---|---|
| 914,744 | ||||
| 914,744 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Cyclical maintenance fund Hardship fund Extraordinary repair fund TOTAL FUNDS |
Incoming resources £ 575,179 - (2,046) - 573,133 573,133 |
Resources Movement expended in funds £ £ (362,432) 212,747 (37,806) (37,806) - (2,046) (12,447) (12,447) (412,685) 160,448 (412,685) 160,448 |
Resources Movement expended in funds £ £ (362,432) 212,747 (37,806) (37,806) - (2,046) (12,447) (12,447) (412,685) 160,448 (412,685) 160,448 |
|---|---|---|---|
| 160,448 | |||
| 160,448 |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
Page 13
THOMAS PHILIPOT'S ALMSHOUSE CHARITY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| INCOME AND ENDOWMENTS Donations and legacies Donations Weekly maintenance contributions Utilities receivable Investment income Interest receivable Investment income Total incoming resources EXPENDITURE Support costs Management Rates and water Telephone Postage and stationery Advertising Sundries Alarms Maintenance charges Cleaning Computer costs Donations Subscriptions Gardening Office equipment Refreshments Surveyors Training Voids Accountancy Insurance Light and heat Mortgage interest Entertainment Finance Bank charges |
2021 £ 250 243,745 27,144 271,139 1,128 15,765 16,893 288,032 10,857 715 495 - 772 13,457 39,096 2,830 223 80 751 1,179 - 26 14,088 150 9,226 9,319 5,103 27,601 5,686 1,000 142,654 - |
2020 £ 190 235,445 29,016 264,651 1,455 18,995 20,450 285,101 9,767 819 1,363 354 1,196 13,457 57,441 3,628 341 130 596 1,237 606 148 13,121 (100) 3,936 9,019 4,998 14,003 5,751 - 141,811 13 |
|---|---|---|
This page does not form part of the statutory financial statements
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THOMAS PHILIPOT'S ALMSHOUSE CHARITY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021 |
||
|---|---|---|
| Finance Human resources Wages Social security Pensions Other Change in investment values Total resources expended Net income |
2021 £ 68,712 382 1,870 70,964 (46,220) 167,398 120,634 |
2020 £ 66,457 536 1,756 |
| 68,749 34,714 |
||
| 245,287 | ||
| 39,814 |
This page does not form part of the statutory financial statements
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