REGISTERED CHARITY NUMBER.. 210468 THE STOSYTH ALMSHOUSE CHARITY ANANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2QZ4
THE ST OSYTH ALMSHOUSE CHARITY CONTENTS OF THE FINANCIAL5TATEMtNTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of thE TrustÈe$ Independent Examlner's Report Statementof Flnanclal Actlvltle5 Balance Sheet Notes to the Flnancial Statements 7 to 16 Detalled Statement of FlnanclalACtElleS 17 to 18
THE ST OSYTH AIMSHOUSf CHARrrY REPORY OFTHE TRUSTEES FOR THE YEAR ENDED JI MARCH 2024 TheTrustees presentthelr report 8lon£ with ihe fin3ntlal statements olthe ¢hHrity for Ehe year ended 31 March 2024. The truste have adopted the provlslons of Ihe Statement of Reiommended Practlce ISORPI "Accountlng Ind ReportinE by Charitles. preparlnE the annual report and flnancial ststements of the charity. The ftnanclal statements have been prepared in a¢cordante wlth the accoutting polkle5 set out in notes to the accounts on paEe5 7, 8 and 9 and compl¥ wlth the charity's goveinlng document, the Chiritles Att 2011 and Accoulltlng and Reportlng by Charitie5', Statement of Recommended Practlce appllcable to charltlÈs preparing their accounts ac£ordance with the Flnanclal Reporting Standard appllcable in the UK and Republlc of Ireland puNlshed lft Ottober 2019. OBJEcfivESAND ACTIVITIES Obloctlves and aims The aim ol the Char1ty Is the provi51on of almshouses for the beneflclal class ol the Charity - 'poor persons who (except in spcl31 cases to be approved by the Icharityl Commi5slonersl shall be Fe5ident In the Par15h of 5t Osyth at the time ef their appolntrnenL The resldents of at1È2st two of the almshavses sha11 be married couples, wldows or splnsters qu4lllied a5 aforsald' Appllcatlon DI IncDme The Tret income shall bc applied first to rtpalr, Insure and rDeet all other outEoing5 in ¥espett of the Clkrlty'5 propertles and all praper costs of the Charity's adminSst¥atlon and management. Thereafter net in¢ome shall be appl(ed farthÈ benefit of the zlm5people of thE Charlty. SlgnlfScant artlvltie5 The Charity currently provides SIK almshouse prtrpertles and Its 31rn 15 to uJllse these as far as possfble to meet the oblectlve5 of the Ch3rity. Publlc benellt These actfvllles are cwsidered to be forthp. PUNIC benefit 8d in runnlngthe Charlty theTrustees have regard for the Ch3rlty Commi55ti>n guidan on public beneflt. ACHIEVEMENT AND PERFORMANCE Charltable activlties The Trustees hdd four tneetings during the ye3r, They cothtlnued to be concerned wlth mainten4n£e of the properties and wellbeln8 of resldent5. The Tru5teÈs were delighted that the Charlty w85 the reciplent of 8 slgnificant bequest of £70,1W Irom the e5t3tÈ of Mr and Mrs Norman 8455Ètt, formerly of St Osyih, Thls bequest was invested in the CaF Deposlt Account and would enable the Charlty to commlt to maloT roof work5 rÈquired in the nèar future. The Trustee5 were gr8teful to Mrs Charlotte Siott who had made th15 gift in n)emory ol he¥ ?unt and unde. Duringthe yearthe rear exterior to Clècton Road was redÈc012ted. Boilers were replaced at three propertlP5. FINANCIAL REVIEW The Charlty's financlal posltlon Is as set out In the Balance Sheet on Pa 6 and Is considered sat15factory. Resetves poIIcv The charlty'5 pollcy on reserves 15 to malntsln Sufficient reserves to enable the Ch4rity to contlr*ue to acNevp its princlpal objectives.
THE ST OSYTH ALMSHOUSE CHARrrY REPORT OFTHETRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FUTURE PLANS The M$hoUSeS are over 400 yÈÈrs ènd requlre major works to the roof. Thanks to thÈ klnd glf¢ recelved duiing the ye3r and maintenance funds set a51de byTrustees, theTrustees comrnissloned a structural Surveyor and architect to Inspect and thaw up plans lor renovations. The works are due to take place durlng the 2024125 financlal yÈar. STRUCTW<E, GOVERNANC£ AND MANAGEMENT Govern1 document The St Osyth Almshouse Charity is a registered Charity governed In accordgnce th a Scheme which was sealed by the Charity Commlssioners on 5 July 1979 as 8mended on 17 July 2018 2nd a Sclieme sealed by the tharity CommSs51oners on 3 March 1997 which provided for the aFnalgamatlon wlrh the John 611ders Charlty. Copies of the Schemès are avall8blefrDm the Clerk upan request. Recwltment and appolntment of newtrustees vacanclps for Trustee5 dr15e applicallon5 are SOUBht frorn potentlal carOidate5 known to the Trustees and other suitable local pèople. ApF4icants are thEn consldered by the T¥u5tees and appolntments rrEadp by resolutlon of the TrusteÈs. Organ1s3tlonal structure Day to day admini5tr4tion of the Charlty is carried out bythe Oerkwho reports to the TrusteÈ& Inductlon and traSnlnE of Thew tru5teÈs New Trustees are brlefed by the cle.rk and the existlns Trustees on the hlstory 2nd advlties of the Charfty. They are provided wlth a copy of the charlty COMMIOn publication 'The Essentlal Trustee" detatling thelr responslblllties and providing guldance on being a Trtt5teÈ. NewTrustees are prov5ded with a copy of the Charlty Scheme 8nd the latest ccount5. Related partles There are no other charlties related to The St Osyth Almshouse Chorlty. The Clerk to the Charity Is 3150 aerk to other almshouse cha¥itles. R15k nagemeNt The trustee5 have a dtY to Identify and revlew the r15k5 to whkh the chèrlty 15 exposed to ensure appropriate controls are In place to provide reèsonable assrall against fraud and error. Through the employment of professlonal advlsers the TrUStÈ seek to ensure that all of the Charlty's m8nagement and decision maklng processes take fu11 actovnt of, and comply with, relevant le81atIOn and regulatory controls. Insuyance includlng propertyownership ond publlc Ilablllty Is re3s5es5ed annually. REFERENCE AND ADMINISTRATIVE OEfAILS ReElstered Charlty number 210468 Prln¢lpal addr 18 Newbridge Hlll West 8ergholt Colchesier Éssex C06 3ER
THE ST OSYTH ALMSHOUSE CHARITY REPORT OF THE TflVSTEES FI)R THE YEAR EPIDED 31 MARCH 2024 TILtee5 I White M5 Cvenables Ms K Sinclair, Chalr D Cooper Reverend S Mile5 Ireslgned 61111231 Msj Clinton D Wfight13ppointed 61111231 Independent Examlner Slmon Welllng Certlfied Accountant Haines Watts Town Wall House Balkerrle Hlll Colchester EsseK C03 3AD Sollcltors John Fowlw5 St Runwald5 Street Colchester Essex COI IDS. Clerkto the chartty Clate HÈyes 18 Newbrldge Hlll West Bergholt Colche5ter Essex C06 3ER BankErs CAF Bank Ltd 25 KitEs Hlll Avenue West Malling Kent ME19 4JQ App¥ovÈd by order ofthe bo4rd of trustees o ¥gned on Its behalf by.. ao2+ K Slnclalr- Trustee
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF THEST OSYTH ALMSHOUSE CHARITY Indèpendent examlner's repDrtto the trustees ol The St 05yth Almshouse Chgilw I report to the charity tru5teÈs on my examlnatlon of the accounts of The St 05Vth Mmshou5e Charity (the Trust) for the year erKled 31 March 2024. Responsibllltles and basts of report As thp charity trustee5 01 the Trust you are iesponslble for the preparatlon of the 2ccounts in Jccordance wlth the requlrement5 01 the Charltles Act 20111'the ACVI. I repwt In respect of my eyaminatlon of the Trust'g ¥counts carrled out under Section 145 of the Act and in c2rryln out my examlnation I havÈ followed all applicablÈ Dlrectlons eiven by th2 Charlty Commlssion under Sectlon 14515llbl of the Act. Indepdent examlner's Statement I have complÈted my examination. l ¢onflmi that no material m£ttÈs have come to my attentlon in connecuon th the ekamlnation glving me cause to belleve that In any materlal respect.. ccountiag r&ords were not kept in respect of theTru5t as qUIred by 5ectlon lao olthe Act.. or the accounts do not accord with those records,. or the accounts do not tomply with the apItab1É rqulrements concernlng the form and content Df Éctounts set out in the Charltles (Accounts 4nd Reports) Regulation5 21X>8 other than any requirement that the accounts give a true and fair view whlch Is not a m?tterconsldered as part of an Independent examnatioTh. I have no contÉrns and have come atross no other matters in connettlon with the examlnatlon to whtch atlention shtsuld be drawn in this report In order to enable a proper understsn4Jin8 of the accounts to be rÈathed. Slmon Wellir Certified Accountsnt Haines Watts Town Wall House Balkerne Hill Colthester E55ex C03 3AD Date.,
THE STOSYTH AiMSHOUSE CHARITY STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2Q24 Total fuMIs 2023 Total Iurhds UnrÈstricted Endowment funds funds Notes INCOMEAND ENDOWMENTS FROM Donatlon5 and legacles 70,000 Charitable artlvlties tnshause actwily 38,271 38,271 34,669 InvestmÈnt Income 5,493 1,76S 7,258 4,604 Total 113,764 1,765 115,529 39,273 EXPENDITURE ON Charitable adlvitle5 AItD5hou5e 8Ctivity 25W9 25,449 24,724 88,315 1,765 90,080 14,549 Ner eain£lllosse51 Dn Investments 1,673 L121 2,794 13,4461 NET INCOME 89.988 2,8B6 92*74 11,103 Other recoEn15ed g31nslllossesl Galns on revaluatlon of fixed assets 319,638 319,638 Net movemetyi In funds 89.9B8 322,524 412,512 LI.103 RECONCILIATION OF FUND5 Total lunds brought lorward 95,779 1,104,253 L200,032 1,188,929 TOTAL FUND5 CARRIED FORWARD 185,767 1,426,777 1.612,544 1,200,032 The netes form of thE5e flnancial st&tements
THE 5T OSYFH ALMSHOUSE CHARITY BALANCE SHEET 31 MARCH 2024 2024 Total fund 2023 Total futK15 Unrestfided Endowment runds funds Ntstes FIXED ASSETS Tangible assets Investments io li 61 76,945 1,374,D05 51,772 L374,066 129,717 1.054.438 122.424 77,006 1,426,777 1.503,783 1,176,862 CURRENT ASSETS Debtors C45h 4t bank 12 1,898 109,397 1098 109,397 2,435 24.977 111.295 111,295 27.412 CREDITOAS ArnouTrts falllngdue wSthln one yea¥ 13 12,5341 12,5341 14,242 METCURRENT ASSETS 106.761 108,761 23,170 TOTAL A55ETS LESS CURRENT LIABILlnES 185.767 IA26,777 1,612,544 1,200,032 NET AsseTS 185,767 1.426,777 1.612,544 1,200,032 FUNDS 14 UnrestrictÈd funds Endowment funds 185,767 L426.777 95,779 1.104.253 TOTAL FUNDS 1,612,544 1,200,032 tl I tatemer*t5 were approved by the 8oard of Trustees authorised for Issue o nd were Signed on its behalf bv.. K SitKIBir Trustee J Whlt Trustee The note5 form patt of these flnancial statements
THE ST 05YTH ALMSHOUSE CHAR NOTES TO ThE FINANCIALSTATEMEMrs FOR THE YEAR ENL¥ED 31 MARCH 2024 LEGISLATIVE POSITION The Charitv 15 unlDcorporated but is reglsterpd wlth the Charity Commisslon as a Registered Ch¥lty and with the Natlonal knsociation 01MShou$es a5 a Registered M$hOuse Charilv. ACCQUNTING POLICIES Basls Df preparlng the finantlal statements The linancial statements of the charityp which Is a public benefit entity u•der FRS 102, have been prepared In accord3n¢e wlth the Charitie5 SORP IFRS 1021 'Accounting Ènd Reporting by charles.. Statement of Retommended Practice appllcable to charitle5 prÈpÈrlng thelr account5 in Bttordance wlth the Financlal Reporting StÈnd2rd appllcable in the UK and Republlc ol Ireland IFRS 1021 leffectwe ljanuary 20191,, F1nanclal ReporbnR Standard 102 'The Flnanclal Reporting Standard appllcable in the UK 3nd Republlc ol Ireland, 3nd the Charitie5 Act 2011. The flnanclal slztemp.nts have been prepared under the h1stori1 cost conventlon, vAth the exception that hou51n8 properties are Intluded 8t valuation and investments whkh are ifjcluded at market value. Fund Accountlng Unrestrlcted funds are awallable to spend on activitie5 that further any of the purposes of Charity. Designated funds are unrestricted funds of the charlty whlch the trustees h?ve decided at their discretion to set a5Ide to use for i speclflc p4Jrpose. Restricted funds are funds which the danor has spedfied are to be solcly used for ? particular purpose. Permanent endowment funds are non-eKpendÈble funds which are Dormally held Indeflnitely. Furthei explanation of the nature and pvrpvse of each fund Is included in the notes to the fjnancl81 statements. Golng concern The accounts are prepared on a going conrern basls 45 theTr are no materlal uncertalntle5 about the Charity's abllty to conunue, Income All Income Is recogni5ed in the Statement of Financial Actlvltles et)ce the charity has entltlemenl to the funds, It Is probable thèt the Income will be recElved and the amount can be measured reliablv. Income Irom gove¥nmÈnt and other grants, whethÈr 'capltal' grants or 'rÈvÈnue' grants, is recoÈntsÈd when the Charity h35 entitlement to the funds, aiiy performance condltlon5 attathed to the gfants have bÈEn met. It Is probable that the Income will be received and the amauntcan be measured reliably and Is not deferred. For le8acles, entitlement Is taken a5 the e3rlTrer ol the date on whlch elther.. the a)aflty is awarè thÈt probate ha5 beèn granted. the estate has been fina115ed and notlficatlon has been rnade by the executorl51 to the Charitythat a thstrlbution will be made, or when a d55trlbutlDn Is received from the estate. Donat105 and other voluntary Income are reflected in the account5 for the perlod in which they are reEplved. Donations In kind are recogni5ed by thE Charlty when recewed except In the case o15eNices provlded free or undervalue byvoluntary staff or others whlch are not refletted In the accounts. Interest re¢elvable Interest on fund5 held on deposit is included when recelvabte thÈ tmount can be measured lIablY bythe Charityi thls is normally upon notifl£atlon of the Interest paid or pèyable by the Bank.
THE STOSYTH ALMSHOUSE CHARITY NOTESTO THE FINANCIAL STATEMENTS- ¢ontlnued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNYING POLICIES.torttlnued ExpEndlture Uabilities are recogaised 85 expendlture as Soon a5 there Is a le831 or tonstructive obllgation tommlttlng the tharlty to that expenditwe, it is probable that a transfer of economlc benefits will be required In settlemEnt and the amount ol th2 obllgatlon Can be me75ured relltbly. Expendstvre is aciounted for on an accru315 basls and has been classlfted under headinES that aE8regatt all cost related to thÈ category. Where costs cannot be directly attrlbJted to partlcular headlngs Ihey have been allwated te actlvltles on a basls conslstent with the use of resources. Repalr5 and malntenan¢e of properiles The charges In the Statement of Financlal Act Itles In respect of Cyclic31 Malnten2nce and Extraordln¥y Repair5 lleCt the Trustees. constant concern to keep the properties In good condltlon, and are In accordènce wlth the Almshouse Associ4tions' recommendation thit Alm5hDU5e Charities Should 5Èt aside each year speclflc sums in this respect. Transfers are made from the Accumulated Fund each ye8r to the Extraordlnary Repair Fund tts covÈr extr2ord1nary repairs as they arlse and to the Cycllcal MalntÈ#ance Fund to cover repalrs which 4r15È on a CyGllcal b1$. Support Costs The Chèrlty's Bovernance rost5 3re allocated entirely to the Almshouse Cost5 sirEce support costs relating to other activities arp con51dered Immalerial. ranglble flxed assets The housing properlles are included In the accounts at tlieir insurance relnstatement value. Addlti0115 after each revaluatlon dre It)cluded * cost untll a further revaluation. The cost of refurblshment and Improvements to the existlng property are WTltter off tts thÈ General Fund a5 Incurred. Any malorimprovements or exten05 to the property are capltslised. The hou51ng prortles are not depreclated as revaluations are performed wlth sulFicient regularity to ensure thot the carrylng amount5 arè not materlatly mlsstated. The land15 Inclyded at cost and is nDt depreclated. Fixtures and Ilttlngs are induded at cost and are depreci3led over thelr estlmated useful Ilves tssln8 the red1Th8 balaace method 4t a rate of 15% per annum. Investments Inve5trnents are shown on the Balgnte Sheet at their market value. Changes in m?rket values durlne an ccount1ng period are refflecttrd In the account5 85 unreali5od galns or losses. Upon disposal of an investment the difference between orlginal cost 2nd dKsposal procee(ts is reflected In the accounts as a rpallsed galn er loss and 3dlustment Is made to vnre31I5ed galns or losses to reverse unreèllsed movement5 In value in earlieryears. Debtor5 Contributlons and other debtors are recognlsed at the settlement amount due, Prepayrnents are valued at the amount prepald netof èny trade discount5 due. Cash at Bank Cash at b3nk and cash in hand includes tash and short term highly liquid investments wlth a short maturlty of three Tnooths orle5s from the date of ètquL8ltlon or opening of thÈ deposit or slmilaF account.
THE STOSYTH ALMSHOUSE CHARITY NOTES TO THE FINANCIALSTATEMENYS. contlnyed FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- contlnued Creditors and Provlslons Credltors and pr(pJi5ion5 are recoEnid where the Charlty has a present oblleatlon re5ulJng from a past event that will probably result In the transfer of funds to a third party and the amount due to settle the obligatlon can be measured or estSmated reliably. Creditors aHd provlslons are rorm3lly Feco8nlsed at thelr settlement afflount after allowing for trade dlscounts due. Taxatlon The th¥lty1s exempt fram tiy on ks charlt3Ne activltles. INV¥SYMENT INCOM 202a 2023 Dlvldend incorne Ground rent Interèst receivable 5,074 loo 2,084 4,487 loo 17 7,258 4,604 INCOME FROM CHARITABLE AcnvfTIES 2024 2023 Almshouse aCtI[v Contributlons receivawe Losses from volds 38,885 16141 36.844 12,1751 98,271 34.669 CHARIYABLE ACTIVITIES COSTS Dlrett Costs15ee note 61 5pport costs l.see note /) Totals Almshouse activity 18,742 6,707 25,449
THE ST OSYTH ALMSHOUSE CHARITY NOTES TOTHE FINANCIALSTATEMENTS. rontlnued FOR THE YEAR ENDED 31 MARCH 2024 DIRECT COSTS OF cHARITApLEAlvITlE5 2024 2023 v3t property Costs Water charges Insurance Repairs and malntenan¢e 258 328 994 7,152 6,156 4,398 70 108 13 ¥144 1,97S L749 11,804 ExtraoTdinary repalrs Sundry expenses Depreclition 59 li 18,742 19,477 SUPPORT Cosrs Governance costs Managernent Finance Totals AlmshoSe actlvlty 5,091 60 1,554 6,707 Support costs, Induded In thÈ above, are as follows.. 2024 2023 Total actItIeS AITn5house attlvity Clerk fees Sub5C¥lPtlons Legal and professional lees Bank charge5 Accountancy fees Independent examlnatlon fee5 1.gjo 343 850 60 1,394 160 a,614 196 25 1.267 145 6,707 5,247 TRUSTEES, REMUNERATION AND BENEFITS There were no trusteeg reTnunerat1on or other benÈflts for the year Énded 31 March 2024 nor for the year ended 31 March 2023. TtW5teo5' expenses There were no trustees. expenses pald for the year efjded 31 March 2024 nor for the year ended 31 March 2023. -io-
THE STOSYTH ALMSHOUSE CHARITY NOTESTO THE FINANCIALSTATtMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 COMPARATIVE5 FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Endowment funds Total funds INCOME AND ENDOWMENTS FROM Charitable activitles Almshouse activity 34,669 34.669 Investment l#come 3,112 1,492 4,604 Totsl 37,781 1.492 39.273 EXPENOITLIRE CharSlable actlvltles Almshousc activity 24,724 24,724 13.057 1,492 14,549 et galn51llDes) on Investments 12,3811 11,0651 13,4461 NEF INCOME 10,676 427 IL103 Tr8nsfersbetween funds I6,> Net movement In funds 3,776 7,327 11,103 RECONCILIATION OF FUNDS Total funds brought IDrward 92,iX)3 1,096,926 1,188,929 TOTAL FUNDS CARRIED FORWARD 95.779 J,104,253 J,200,032 -li-
THE SYOSYTH ALMSHOUSE cHARy NOTESTQ THE FINANCIAL STATEMENT5-contynued FOR THE YEAR ENDED XI MARCH 2024 io. TANGIBLE FIXED ASSETS Priory Meadow land Flxtures and Houslng properties Totals COST OR VAIiIATION At l Aprll 2023 Revalwtlon5 1.003,7ZI 319,638 50,646 4,180 1,058.547 319,638 At 31 March 2024 1,323.359 5Q,646 4,180 378,185 DEPRECIATION At l April 2023 Ch2rge for ¥e3r 4,109 io 4,109 io At 31 March 2024 4,119 4,119 Nrf BOOK VALUE At 31 March 2024 1,323,359 50,646 61 1,374,066 At 31 MaTch 2023 1,003.721 50,646 71 1,054,438 C05t or valuation at 31 March 2024 is repre5entEd by.. Prloiv Meadow Land Fixture5 and flltlngs Houslng prepertles Totals Accumulated revaluÈtlon gains Cost 965.679 357,6B(k 965,679 412,506 50,646 4180 1,323,359 5Q,646 4,180 1378,185 The hou51ng prtsperties were revalued during the year endpd 31 March 2024 to thelr Insurance relnstatÈment value as at 30 June 2024 of El,322,359 -12-
THE STOSYTH ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS-rontlnued FOR THE YEAR ENDEO 31 MARCM 2024 ii, FIXED ASSET INVESTMENTS Inve5tment5 MARKET VALUE Ar l Aprll 2023 Additlons Revalu3tSons 122A24 4N99 2,794 At 31 M8rch 2024 129,717 NEI BOOKVALUE At 31 March 2024 129,717 At 31 Mzrch 2023 122,424 ThÈrÈ were no Investment assets out55de the UK. Cost Dr valu8tlon at 31 Nlarch 2024 15 represented by.. Llsted Investments Accumulated rev31uatlon galns Ctrst 27,006 102,711 129,717 12. DEBTORS.. AMOUNYS FALLlhtG DUE WITHIN ONE YEAR 2024 2023 Contrlbutions In arrears Other debtors Prepayments and 3ccrued lTrcorne 1,254 300 247 644 1.898 2,435 -13-
THE ST OSYTH ALMSHOUSE CHARITY NOTESTO THE FINANCIALSTATEMFMfs- ¢ontlnued FOR THÈ YEAR ENDED JI MARCH 2024 13. CREDITOR5.' AMOUNTS FALLING DUE WITHIN ONE YEAR 20VI 2023 Contrlbutlon5 rÈtelved In advance Accruals and deferred ¥ncome 752 1,782 875 3,367 2,534 4,242 14. MOVEMENT IN FUNDS Net movement In funds Transfers between funds At 31.3.24 At 1.4.23 unrestrled funds AccumulatEd fund Extraordinary Tep3irfund Cy£llcal mantenancefund 1718 46,622 A6,239 87.494 2,763 12691 19,7081 3,684 6,024 80,504 53,269 51,994 95,779 89,988 185,767 Endowment lund5 Perm£nent endowmpni fund HousinE property revaluatlon reserve C2pIt81 recoupment fund 411361 646,Q41 45,851 261 319,688 625 412,622 965.679 48N76 1,104,253 322,S24 L426,777 TOTAL FUNDS 1,200.032 412,512 1.612,544 Net movement In funds, Intluded In the above are as follows.. Incoming resour5 Resources expended Gain5 and IDsses Movement In funds Uhrestrftted funds Acrumulated fund Extraordlnary reIr fund Cyclical ma1nteaance fund 111,114 1,704 946 I23,7> 87,494 2,761 1,059 534 11,7491 113,764 125,4491 1,673 89,988 Endowment fvnds Perrnanent eNJowmentfund Housing praperty revaluatlon reserve Capltal recoupment furd 167 94 319,688 I,OZ7 261 319,638 2,625 1598 1,765 320,759 322.524 TOTAL FUNDS 115,529 125,4491 322,43Z 412,512 -14-
THE ST OSYTH ALMSHOUSE CHARITY NOTES TO THE FINANCIALSTATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 MOVEMENT IN FUNDS- centlnued Cotnparatlves for mDvement In funds et movement In funds Transfers between funds At 31.3.23 At l.Ik22 UnYÈsirlcted funds Ac<umulated fvnd £Ktraordinary repair fund Cy¢llcal malnten8nce fund 12,3901 27,566 66,827 20,978 14,4641 15,8381 15,8701 23,720 14,7501 2,718 46,822 46,239 92,003 10.676 16,9001 95.779 Endowment fild5 Pèrmaftent endowment fund ousinE properly revaluatlon reserye Capltol recoupment fund 405,417 646,041 45,468 44 6,900 412,361 646,041 45,851 383 1,096,926 427 6,9(W) 1,104,253 TOTAL FUNDS 1,188,929 11,103 1,200,032 Comparatlve net movement In funds included In the above are as folows.. Incomlng resource5 Aesources expended Galns and Movemenr In funds Unrestrlrted funds Accurnulated fund Extratydinary repalr fund Cyclic81 malntenance fund 35.378 822 L581 114,1701 14.39BI 12301 18881 11,2631 20,978 14,4641 15,8381 37,78L 124,7241 12.3BLI 10,676 Endowment fund5 Pertnanent endowment fund Capltal recoupment fund 144 1.348 11001 19651 44 389 1.492 11,0651 427 TOTAL FUNDS 39,273 124,7241 13,4461 11.103
THE STOSYTM AIMSHOU5E CHARITY NOTES TO THE FINANCIAL STATEMENT5- contlnued FOR THE YEAR ENDEL131 MARCH 2024 14. MOVEMENT IN FUNDS-¢ontlnued Fund and Reserves Permanent Endowment Fund The Permanent Endowment represent5 the hov51ng propertle5 and land funded frgm the Charity'5 Own rÈ50urces, the PerManet Endowrnént lTrvÈstments less the OUEStènding balance of the Natlonal As50clatlon of Almshouses loèn.. Houslng Propertles Revaluatlon Reserve The Houslng Property Rev3luatlon Reserve Is permanent endowment of thp Charity aTrd is rÈpresentÈd by the v?lue of houslng propertles rèvalutttion galns. Capltal Recoupment Fund The Capltal Recoupment Fund Is permanent Èndawment of the chaty. The fund was estsblished to recoup the assets of the Chartty of Mary Plgott for Almshouses which were used to Improve the CharltV'5 housing propertles In 1979. The amount to be recouped Is £7.739 atthe rate of £70 per annum. Durln8 the year ended 31 March 2013 the Charfty Commis51on permitted the Charity to se £37,000 of permanp.nt pTrdciwment Invp.stments to fund improvemÈnts to the Ch3rity's housing properti. This Èmount is to be recouped over tsventy years atthe rate of £1.850 per annum. The Charfty Commi55i9n ceased the recoupmen¥ orders wlth efl¢¢t from the year ended 31 March 2021. Cyclical Malntenance Fund The Cyclkal MaintÉrknce Fund Is unrestrkted but deslgnated by the Trustee5 to cover the cost of cycllcal maintenance as it arises. A transfp.r to thp. Fund is made each year from the Accumulated Fund of i sperific amount 4Ereed bythe Trustees. ExtraDrdlnary Repalr Fu1 The F.Klr8ordinary Repalr Fundls unrest¥icted designated by the Trustee5 to cover the c05t of extr8ordinary repair5 a5 they ar15e. A transfer to the Fund Is rnade Èach year from the Accumulattd Fund of a speciflc amount agreed by the TTUStees, The Fund is speciftcally invested and income fram the invpsttnents is added to the Furyi. A¢(Mlated Fund The Accumulaled Fund represents part of thÈ accumul2tÉd surpluses of the Charity and Is 8valloblÈ for the general purposesof thè Charltv. 15. RETED PARTY DISCL05URES There were no related party tran59CtloDs for the yeèr ended 31 Marth 2024. .16-
THE STOSYTH ALMSHOUSE CHARITY DEfwLED STATEMENT O¥ FINANCIALACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 INCOME AND ENDOWMENTS Oonatlons and le1¢$ Donations 70,000 Investment Income Dlvldend ItKoTne GrourKJ rent Interest re7Vable 5,074 loo 2,IYd4 4,487 loo 17 7,258 4,604 (haikable 3Ctlvltles Contrlbutions rÈtdv2ble Losses from velds 38,885 16141 56.844 12,1751 38,271 34,669 Yotal Incomlng resources 115,529 39,273 EXPENDITURE Charltable actlvltles Vacant property Costs Water £hargÈs Insuran Repairs and m)Intenon¢e Cyclical repairs Extraordlnary repalr5 CarÈline Sundry expense5 Depteclatlon of t3nglble fixed assets 258 328 994 7,152 6,156 4,398 70 108 13 1,144 1,975 1,749 13,804 59 li 18,742 19,477 Supptrrt cost5 Management Clerk fees Subscrlprions Legal and professlonal fees 3,900 343 850 3.614 196 5,093 3,810 Anane Bank ch4rges 60 25 Thls page does not form part of the statutory financlal Statements -17-
THE ST OSYTH ALMSHOUSE CHARITY DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 20Z4 2024 2023 Flhance Governance ¢osts Accountancy lees Independent examSner5 fep5 1,394 160 1,267 145 1,554 1.412 Total rEsourres expended 25,449 24,724 Net Income 90,080 14,549 Thls pagtr doÈs not form p2rt of the statutory finaTrdal Statements -18-