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2020-12-31-accounts

Contents
Page
Charity Reference and Administrative Details 2-3
Trustee's
Annual
Report		 4-7
Independent
Examiner's		 Report
Statement of Financial Activities
Balance Sheet 10
Notes to the Financial Statements 11-22

The Directors
who		 served for KEVI Corporate
Trustee
Limited		 KEVI Corporate
Trustee
Limited		 KEVI Corporate
Trustee
Limited		 during the year ended 31
December 2020 and at the date this report was approved
are as		 follows:
Joanne Stone Chairman
Malcolm
Domb		 Vice Chairman
Linda Ainscough
Tammerra
Blest		 Appointed
29th January 2020, resigned		 16th February 2021
Patrick Boydell Resigned 29th January 2020
Daphne
Cornell		 Resigned 24th November
2020
Diane Drury Appointed
25th November		 2020
Stephen
Hasler
Michael
Hibbs
Barbara Hughes Resigned 23rd March 2021
John Kerr Appointed
30th November		 2020
Paul Osborne Appointed
2nd March 2021
Simon Oughton Appointed
29th January 2020
Richard Roberts Resigned 29th July 2020
Graham
Smith		 Appointed
25th November		 2020
Trevor Vincent
Malcolm White Appointed
25th November		 2020
Company
Secretary
of		 the Suzanne Scammell.
Resigned 31st March		 2020
Corporate Trustee:
Lisa Morrissey.
Appointed		 6th April 2020

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2020 2019
King Edward
Vl
and the Reverend
Joseph Prime Gibson's
Almshouse
Charity		 Charity Total Total
Note F F
Fixed assets
Tangible assets 8 1,447,194 1,447,194 1,522,332
Investments 9 486,934 540,117 1,027,051 957,174
1,934,128 540,117 2,474,245 2,479,506
Current assets
Debtors 10 6,529 3,740 10,269 6,545
Cash at bank and in hand 285,908 13,018 298,926 225,843
292,437 16,758 309,195 232,388
Creditors: amounts falling due within one 273,631 273,631 102,723
year
Net current assets 18,806 16,758 35,564 129,665
Total assets less current liabilities 1,952,934 556,875 2,509,809 2,609.171
Creditors: amounts falling due after more 12 110,228 110,228 131,927
than one year
Net assets 1,842,706 556,875 2,399,581 2,477,244
Charity Funds
Endowment
Funds
Permanent
Endowment		 15 1,309,931 1,309,931 1,363,881
Capital
Fund		 15 401,262 401,262 384,946
1,309,931 401,262 1,711,193 1,748,827
Unrestricted
Designated		 Funds
Furniture
8 Equipment		 Fund 15 5,702 5,702 6,468
Extraordinary Repair Fund 15 201,860 201,860 244,360
Cyclical Maintenance Fund 15 129,900 129,900 149,309
Building
Fund		 15 154,367 154,367 150,110
Unrestricted
Funds:
General
Fund		 15 40,946 155,613 196,559 178,170
532,775 155,613 688,388 728,417
Total charity funds 15 1,842,706 556,875 2,399,581 2,477,244

2020 2019
King Edward
VI and the Gibson's Total Total
Reverend charity
Joseph Prime
Almshouse
Charity
Unrestricted Unrestricted
Interest from listed investments 20,256 20,256 15,634
Interest from deposit accounts 1,890 1,890 481
1,890 20,256 22,146 16,115

2020 2020 2019
King Edward
VI and the		 Reverend
Joseph Prime Almshouse Charity Total Total
Unrestricted
Restricted
F
Ex enditure
on lettin		 housin accommodation
Council tax 685 685 1,703
Water charges 8,604 8,604 9,767
Insurance 8,705 8,705 8,077
Light and heat 7,704 7,704 7,472
Routine maintenance 31,265 31,265 21,570
Garden
maintenance		 6,252 6,252 9,975
Cleaning 3,735 3,735 4,790
Bad debts written off 2,900 2,900 1,775
Loan interest and charges 7,674 7,674 8,370
Depreciation
offreehold		 property 36,937 36,937 37,237
Sundry expenses 467 467
114,928 114,928 110,736
Wages and salaries (note 7) 27,507 27,507 27,655
Training costs 544 544 444
Subscriptions 692 692 615
Telephone,
postage and		 stationery 1,258 1,258 2,481
Website development 487 487 118
Legal and professional fees 270 270 345
ITSoftware 1,836 1,836 1,874
Accountancy
fees		 5,138 5,138 7,801
Bank charges 64 64
Advertising
and marketing		 196 196
Sundry expenses 662 662 2,841
38,654 38,654 44,174
Depreciation
offurniture		 and equipment 767 4,206
767
Extraordinary
repairs		 260,511 500 261,011 57,540
Cyclical maintenance 30,727 30,727 50,261
Repairs 500
445,587 500 446,087 267,417

2020 2019
No. No.
Estate management
Business manager
The total staff costs and employee benefits were as follows:
2020 2019
f. F
Wages and salaries 27, 165 27,326
Social security
Defined contribution pension costs 342 329
27,507 27,655

Tangible fixed assets
Freehold Furniture
and
Property Equipment Total
E
Cost or valuation:
At 1"January 2020 2,022,907 76,083 2,098,990
Additions (37,434) (37,434)
Disposals
At31"December 2020		 1,985,473 76,083 2,061,556
Depreciation:
At 1"January 2020		 507,044 69,614 576,658
Charge for the year 36,937 767 37,704
Eliminated
on disposals
At31"December 2020 543,981 70,381 614,362
Net book value:
At31"December 2020 1,441,492 5,702 1,447,194
At31"December 2019 1,515,863 6,469 1,522,332

Fixed asset investments
King Edward
Vl		 Gibson's
and the Reverend Chadty Total
Joseph Prime
Almshouse
Charity
Market value at 1"January 2020 471,876 485,298 957,174
Additions 33,000 33,000
Disposals
Revaluation 15,058 21,819 36,877
Market value at31"December 2020 486,934 540,117 1,027,051
Cost at31"December 2020 371,784 220,437 592,221
Cost at31"December 2019 371,784 187,437 559,221

10 Debtors
2020 2019
King Edward
Vl
and the Reverend
Joseph Prime Gibson's
Almshouse
Charity		 Charity Total Total
E
Contributions in arrears 6,573 6,573 8,320
Provision
for		 doubtful debts (2,240) (2,240) (3,306)
Other debtors 471 471
Prepayments and accrued income 1,725 3,740 5,465 1,531
6,529 3,740 10,269 6,545
11 Creditors: amounts falling due within one year
2020 2019
King Edward
Vl
and the Reverend
Joseph Prime Gibson's
Almshouse
Charity		 Charity Total Total
Bank loans (note 13) 21,332 21,332 20,055
Contributions received in advance 7,908 7,908 11,102
Other creditors 237,291 237,291 56,790
Accruals and deferred income 7,100 7,100 14,776
273,631 273,631 102,723
12 Creditors: amounts falling due after more than one year
2020 2019
King Edward
Vl
and the Reverend
Joseph Prime Gibson's
Almshouse
Charity		 Charity Total Total
F
Bank loans and overdrafts
(note 13)		 110,228 110,228 131,927
110,228 110,228 131,927

Yea r Ended 31"December 2 020
13 Loans
2020 2019
F F
The Almshouse
Association		 Loan 21,000 29,400
Charity
Bank Ltd loan		 110,560 122,581
131,560 151,981
Loans are repayable as follows:
In one year or less 21,332 20,055
Between one and two years 22,157 20,295
Between two and five years 51,223 50,085
In five years or more 36,848 61,546
131,560 151,981

Balance at
1"January		 Balance at
1"January		 Balance at
1"January		 Income Expenditure Gains
(losses) on		 Gains
(losses) on		 Transfers
between		 Balance at31"
December
2020 investments funds 2020
F F
Kin
Edward		 Vl and the Reverend Jose h Prime Almshouse Chari
Unrestricted Funds
General
Fund		 48,341 310,766 (153,583) (164,578) 40,946
Furniture
8		 6,468 - (766) 5,702
Equipment Fund
Extraordinary 244,360 (260,511) 6,303 211,708 201,860
Repair Fund
Cyclical 149,309 (30,727) 4,498 6,820 129,900
Maintenance
Fund
Building
Fund		 150,110 4,257 154,367
598,588 310,766 (445,587) 15,058 53,950 532,775
Restricted Funds
Restricted Fund 500 (500)
Permanent Endowment Funds
Permanent 1,363,881 (53,950) 1,309,931
Endowment
Fund
Total 1,962,469 311,266 (446,087) 15,058 1,842,706
Unrestricted Funds
General
Fund		 129,829 20,281 5,503 155,613
Permanent Endowment Funds
Capital
Fund		 384,946 16,316 401,262
Total 514,775 20,281 21,819 556,875
Total 2,477,244 331,547 (446,087) 36,877 2,399,581

Analysis o f net asset s between funds
Creditors
Fixed Investments Current assets due more
assets (liabilities) than one
year Total
F F F
Kin
Edward		 Vl and the Reverend Jose h Prime Almshouse Chari
Unrestricted Funds
General Fund 807 40,139 40,946
Furniture 8 Equipment 5,702 5,702
Fund
Extraordinary Repair Fund 201,860 201,860
Cyclical Maintenance Fund 129,900 129,900
Building Fund 154,367 154,367
5,702 486,934 40,139 532,775
Permanent Endowment Funds
Permanent Endowment 1,441,492 (21,333) (110,228) 1,309,931
Fund
Total 1,447,194 486,934 18,806 (110,228) 1,842,706
Unrestricted Funds
General Fund 138,855 16,758 155,613
Permanent Endowment Funds
Capital Fund 401,262 401,262
Total 540,117 16,758 556,875
Total 1,447,194 1,027,051 35,564 (110,228) 2,399,581