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2025-06-30-accounts

THE SHEN PLACE ALMSHOUSES

Financial Statements and Reports

for the year ended 30[th] June 2025

Registered Charity No. 210106

Registered Social Landlord No. A3666

THE SHEN PLACE ALMSHOUSES

Contents

Contents
Page
Legal and Administratve Informaton 1
Trustees’ Report 2
Independent Examiner’s Report 3
Statement of Financial Actvites 4
Balance Sheet 5
Notes to the Financial Statements 6-7

THE SHEN PLACE ALMSHOUSES

Legal and Administrative Information

Address

Shen Place Almshouses Shenfield Road Brentwood Essex CM15 8AD

Trustees

The Trustees who began the year were:

Mr T J Faiers - Chairman
Mr J R Hubbard - Treasurer
Mr G Moore - Secretary
Rev Dr A McConnaughie
Mrs M Faiers

Principal Office during the year

c/o 1, Woodway, Shenfield, Brentwood, Essex. CM15 8LP

Independent Examiner

Christopher E Sullivan 5, The Paddocks, Ingatestone, Essex. CM4 0BQ

Bankers

National Westminster Bank plc. 46 High Street Brentwood Essex. CM14 4AL

1

THE SHEN PLACE ALMSHOUSES

Trustees Report for the year ended 30[th] June 2025

The trustees present their report together with the financial statements for the year ended 30[th] June 2025. The legal and administrative information as set out on page 1 forms part of this report.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Shen Place Almshouses is a registered charity, number 210106 and is also a Registered Social Landlord, number A3666. It is governed by the Trust Deed dated 29[th] June 1911 under which it was established, a Charity Commission Scheme dated 16[th] July 1981, a Charity Commission Order dated 15[th] July 2003, a Charity Commission Scheme dated 26[th] June 2014, a Supplemental Deed dated 24[th] May 2010 and a Deed of Amendment dated 29th July 2014.

Trustees, who are honorary, may be elected by a resolution of existing trustees. The trustees met four times in the past year. The board of trustees is responsible for all decision making with day to day business undertaken by trustees as necessary.

The trustees are satisfied that the charity meets the guidance issued by the Charity Commission on public benefit.

OBJECTIVES AND ACTIVITIES

The object of the charity is to provide almshouse accommodation for poor people resident in or having a connection to Brentwood and to maintain the almshouses in good repair and condition.

ACHIEVEMENTS AND PERFORMANCE

All six almshouses were occupied for the whole year.

The residents as at 30thJune 2025 were: The residents as at 30thJune 2025 were:
1. Mr N Cory from 2021
2. Mr D Corver from 1999
3. Miss M Sherringham from 2012
4. Vacant
5. Mrs E Dundrow from 2022
6. Mrs D Furzer from 2005

During 2014, at the Trustees’ request, the Charity Commission issued a new Scheme which broadened and expanded the criteria by which applicants are judged when applying to become residents of the Almshouses. The Trustees also prepared a Trust Deed of amendment updating the administrative arrangements of the Charity.

FINANCIAL REVIEW

Maintenance contributions have been held at the same level as the previous year. The annual operating costs were £26,040, resulting in a surplus of £ 13,080 to the General Fund.

The Extraordinary Repair Fund now stands at £44,397 (2024: £41,434), showing a slight rise from the previous year which reflects the return to normal market conditions post-pandemic.

PLANS FOR FUTURE PERIODS

The Trustees intend to continue with the ongoing programme of upkeep and maintenance of the property and to build on the reserves of the Charity.

T J Faiers (Chairman)

2

THE SHEN PLACE ALMSHOUSES

Notes to the Financial Statements for the year ended 30[th] June 2025

1. ACCOUNTING POLICIES

1.1 Basis of accounting

The financial statements have been prepared under the historical cost convention (as modified by the inclusion of investments at market value) and in accordance with the Statement of Recommended Practice for Charities and Financial Reporting Standards for Smaller Entities.

1 .2 Turnover

Turnover represents the residents' contributions receivable during the year and grants, donations and investment income receivable during the year.

1 .3 Investment income

Dividends from investments are included in the Accounts when receivable.

1.4 Resources expended

Expenditure is included on an accruals basis. Expenditure includes any VAT which cannot be recovered, and is reported as part of the expenditure to which it relates.

1 .5 Tangible fixed assets and depreciation

Housing properties are stated at a nominal value of £1 plus the costs of refurbishment prior to 2007. Since that date, refurbishment costs have been written off as incurred. Shen Place Almshouses does not have sufficient accounting records to determine the historical cost of the properties and value when gifted. Depreciation of housing properties has not been provided on the following grounds:

1.6 Housing Association Grant

Housing Association grants have been deducted from the cost of housing properties in accordance with the Statement of Recommended Practice.

1.7 Cyclical Maintenance Fund

This reserve is the fund established under paragraph 3 of the scheme approved by the Charity Commission on 16[th] July 1981, providing for an annual contribution determined by the trustees to be set aside for those items of ordinary maintenance and repair which recur at infrequent intervals. The fund is currently held on bank deposit.

1.8 Extraordinary Repair Fund

This reserve is the fund established under paragraph 4 of the scheme approved by the Charity Commission on 16[th] July 1981, providing for the extraordinary repair, improvement or rebuilding of the almshouses.

1.9

Property Equity Fund

This reserve represents the initial investment capitalised in previous property refurbishments from the Charity’s own resources. As repayments of the Housing Corporation Loan are made these are charged to Revenue reflecting the continual investment in the property at Balance Sheet value.

1.10 Fixed asset investments

Listed investments are stated at the London Stock Exchange closing mid-market value at the balance sheet date. Any gain or loss on revaluation is taken to the relevant Reserve Fund.

6

THE SHEN PLACE ALMSHOUSES

Independent Examiner’s Report to the Trustees for the year ended 30[th] June 2025

I have examined the financial statements on pages 4 to 7, which have been prepared under the historical cost convention.

Respective responsibilities of Trustees and Independent Examiner

The Charity’s Trustees are responsible for the preparation of financial statements. The Charity’s Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 act) and that an Independent Examination is needed.

It is my responsibility is to:

Basis of Independent Examiner’s report

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

Independent Examiner’s statement

In connection with my examination, no matter has come to my attention:

Christopher E Sullivan 5, The Paddocks, Ingatestone, Essex. CM4 0BQ

3

THE SHEN PLACE ALMSHOUSES

Statement of Financial Activities

for the year ended 30th June 2025

Notes
Incoming Resources
Turnover
1.2
Residents Contributons - Maintenance
- Heatng
Donatons
Investment Income
1.3
Total Income
Resources Expended
1.4
Operatng Costs
Water Rates & Sewage
Lightng & Heatng
Insurance
Repairs & Maintenance
Gardening
Interest payable
Governance Costs
Consttutonal Change Costs
Bank Charges
Sundry Expenses
Total Operatng and Governance Costs
Operatng Surplus (Defcit) for the year
Other recognised gains and losses
Revaluaton of Investments - unrealised
1.10
Net Surplus (Defcit) for the year
Transfers to Designated Funds:
Transfer to Property Equity Fund
1.9
Transfer to Extraordinary Repair Fund
1.8
Transfer to Cyclical Maintenance Fund
1.7
Net Surplus (Defcit) for the year
Total Funds brought forward
Total Funds carried forward		 Unrestricted Designated
2024/5
Funds
Funds
Total

32,442
32,442
5,725
5,725
-
-
953 1,670 2,623
39,120 1,670 40,790

1,741
1,741
4,279
4,279
1,679
1,679
15,644
15,644
2,598
2,598
-
-
-
-
-
53
53
1,721
1,721
27,715 - 27,715
11,405 1,670 13,075
- 1,293 1,293
11,405 2,963 14,368
- - -
- 2,963 2,963
- - -
- 2,963 2,963
11,405 2,963 14,368
50,593 101,095 151,688
61,998 104,058 166,056		 2023/4
Total
28,989
5,116
-
2,383
36,488
1,850
3,901
3,218
23,356
2,594
-
-
-
49
1,380
36,348
139
2,734
2,873
-
4,281
-
4,281
2,873
148,816
151,688

4

THE SHEN PLACE ALMSHOUSES

Balance Sheet as at 30th June 2025

Notes
Fixed Assets
Housing Propertes - freehold
1.5
Less:
Housing Assn Grant
1.6
Net cost
Investments
Extraordinary Repair Fund
1.10
Current Assets
Debtors and Prepayments
2
Cash at Bank - Deposit
Cash at Bank
Creditors - due within one year
3
Net Assets
Financed by:
DESIGNATED FUNDS
Property Equity Fund
1.9
Brought forward
Allocaton in period
Extraordinary Repair Fund
1.8
Brought forward
Dividends Received
Revaluaton
Utlised in year
Cyclical Maintenance Fund
1.7
Brought Forward
Allocaton in year
Utlised in year
UNRESTRICTED FUNDS
Revenue Reserve
Brought Forward
Surplus (Defcit) in Year
2,819
72,855
26,155		 2024/5
128,113
98,452
29,661
44,397




91,998
166,056

29,661



44,397



30,000

61,998
166,056		 1,741
71,902
10,855		 2023/4
128,113
98,452
29,661
41,434




80,593
103,503
9,831		 84,497
3,904
29,661
-		 29,661
-		 151,688
41,434
1,670
1,293		 37,154
1,547
2,734
- 4,281
-
30,000
-		 30,000
-
30,000
-		 30,000
-
50,593
11,405
151,688

Approved by the trustees on August 5, 2025 and signed on their behalf by:-

T J Faiers - Chairman

5

THE SHEN PLACE ALMSHOUSES

Notes to the Financial Statements for the year ended 30th June 2025

2
Debtors and Prepayments
Contributons
Other debtors
Prepayments
3
Creditors falling due within one year
Other creditors
Accruals		 2024/5
2,819
-
-
2,819
531
9,300
9,831		 2023/4
1,741
-
-
1,741
1,604
2,300
3,904

4 Trustees' Expenses

During the year no expenses were drawn by trustees.

5

Accomodation in management

The number of units of accomodation in use at the beginning and end of the year was six (6).

6 Commitments

There are no commitments as at the end of the year.

7

THE SHEN PLACE ALMSHOUSES

Independent Examiner’s Report to the Trustees for the year ended 30[th] June 2025

I have examined the financial statements on pages 4 to 7, which have been prepared under the historical cost convention.

Respective responsibilities of Trustees and Independent Examiner

The Charity’s Trustees are responsible for the preparation of financial statements. The Charity’s Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 act) and that an Independent Examination is needed.

It is my responsibility is to:

Basis of Independent Examiner’s report

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

Independent Examiner’s statement

In connection with my examination, no matter has come to my attention:

a). to keep accounting records in accordance with section 130 of the 2011 Act.

have not been met; or

Christopher E Sullivan 5, The Paddocks, Ingatestone, Essex. CM4 0BQ

3