2021-12-31-accounts - King Edward VI and the Reverend Joseph Prime Almshouse Charity

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King Edward Vl and the Reveren and Gibson's Charity	d Joseph Prime Almshous	e Charity
Financial Statements
Year Ended 31"December 2021
Contents
		Page
Charity Reference and Administrative	Details
Trustee's Annual Report		3-7
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet		10
Notes to the Financial Statements		11-22

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					2021		2020
				King Edward Vl
				and the Reverend
				Joseph Prime	Gibson's
				Almshouse Charity	Charity	Total	Total
			Note		P	P	E
Fixed assets
Tangible assets			9	1,430,807		1,430,807	1,447,194
Investments			10	560,798	630,092	1,190,890	1,027,051
				1,991,605	630,092	2,621,697	2,474,245
Current assets
Debtors				2,562	3,950	6,512	10,269
Cash at bank and in	hand			364,782	9,044	373,826	298,926
				367,344	12,994	380,338	309,195
Creditors: amounts	falling due within one		12	254,190		254,190	273,631
year
Net current assets				113,154	12,994	126,148	35,564
Total assets less current		liabilities		2,104,759	643,086	2,747,845	2,509,809
Creditors: amounts	falling due after more			88,075		88,075	110,228
than one year
Net assets				2,016,684	643,086	2,659,770	2,399,581
Charity Funds
Endowment Funds Permanent Endowment			16	1,316,690		1,316,690	1,309,93'i
Capital Fund			16		452,841	452,841	401,262
				1,316,690	452,841	1,769,531	1,711,193
Restricted fund			16	20		20
Unrestricted Designated Funds Furniture 8 Equipment Fund Extraordinary Repair Fund Extraordinary Repair Fund Special Projects Cyclical Maintenance Fund Building Fund Unrestricted Funds: General Fund			16 16 16 16 16 16	4,870 99,859 100,000 100,670 343,225 51,350	190,245	4,870 99,859 100,000 100,670 343,225 241,595	5,702 201,860 129,900 154,367 196,559
				699,974	190,245	890,219	688,388
Total charity funds			16	2,016,684	643,086	2,659,770	2,399,581

								2020
		King	Edward		Vl and the
		Reverend		Joseph Prime		Gibson's
		Almshouse			Charity	charity	Total	Total
		Unrestricted			Restricted	Unrestricted
		F			E	E
Donations			675		500		1,175	100
Crocus appeal donations		29,683					29,683
Grants								500
		30,358			500		30,858	600
ncome from charitable		activities
						2021		2020
					King Edward
					VI and the
					Reverend
					Joseph Prime
					Almshouse	Gibson's
					Charity	charity	Total	Total
					Unrestricted	Unrestricted
					E
Residents	contributions	receivable			324,065		324,065	307,530
Parking scheme					800		800	875
Use of hall					160		160	396
Wayleave					23		23
					325,048		325,048	308,801

ncome from investments
		2021		2020
	King Edward
	Vl and the	Gibson's
	Reverend	charity	Total	Total
	Joseph Prime
	Almshouse
	Charity
	Unrestricted	Unrestricted
Interest from listed investments		17,236	17,236	20,256
Interest from deposit accounts	2,813		2,813	1,890
	2,813	17,236	20,049	22,146
aising funds
		2021		2020
	King Edward
	Vl and the	Gibson's
	Reverend	charity	Total	Total
	Joseph Pnme
	Almshouse
	Charity
	Unrestricted	Unrestricted
Fundraising	49,056		49,056
Publicity	1,199		1,199
	50,255		50,255


				2021			2020
				King Edward VI and the Reverend
				Joseph Prime Almshouse	Charity	Total	Total
				Unrestricted Restncted
					F
Ex enditure on lettin	housin		accommodation
Empty property costs Water charges Insurance				1,377 9,158 9,412		1,377 9,158 9,412	1,376 8,604 8,705
Light and heat Routine maintenance				4,085 28,421		4,085 28,421	7,013 31,265
Garden maintenance				10,312	480	10,792	6,252
Cleaning Bad debt provision Loan interest and charges Depreciation offreehold property Sundry expenses				3,711 (600) 6,783 36,910 391 109,960	480	3,711 (600) 6,783 36,910 391 110,440	3,735 2,900 7,674 36,937 467 114,928
Su ort costs
Wages and salaries (note 8) Training costs Subscriptions Telephone, postage and stationery Website development Governance costs				31,398 109 603 1,765 155 1,639		31,398 109 603 1,765 155 1,639	27,507 544 692 1,258 487 270
ITSoftware				1,084		1,084	1,836
Accountancy fees Bank charges Advertising and marketing Sundry expenses				4,571 89 110 2,242 43,765		4,571 89 110 2,242 43,765	5,138 64 196 662 38,654
Depreciation of furniture		and	equipment	832		832	767
Extraordinary repairs				12,207		12,207	261,011
Cyclical maintenance				41,106		41,106	30,727
				207,870	480	208,350	446,087

The average monthly	number ofe	mployees during the year was as f	ollows:
				2021	2020
				No.	No.
Estate management
Business manager
The total staff costs	and employee	benefits were as follows:
			2021		2020
			F
Wages and salaries			30,847		27,165
Social security
Defined contribution	pension costs			551	342
			31,398		27,507

Tangible fixed assets
	Freehold	Furniture and
	Property	Equipment	Total
Cost or valuation:
At 1"January 2021 Additions	1,985,473 22,355	76,083	2,061,556 22,355
Disposals At 31"December 2021	(1,000) 2,006,828	76,083	(1,000) 2,082,911
Depreciation: At 1"January 2021 Charge for the year	543,981 36,910	70,381 832	614,362 37,742
Eliminated on disposals
At31"December 2021	580,891	71,213	652,104
Net book value:
At 31"December 2021	1,425,937	4,870	1,430,807
At 31"December 2020	1,441,492	5,702	1,447,194

ixed asset investments
		King Edward Vl	Gibson's
		and the Reverend	Chadty	Total
		Joseph Prime
		Almshouse Charity
Market value at 1"January	2021	486,934	540,117	1,027,051
Additions			21,000	21,000
Disposals Revaluation		73,864	68,975	142,839
Market value at 31"December 2021		560,798	630,092	1,190,890
Cost at 31"December 2021		371,784	241,437	613,221
Cost at 31"December 2020		371,784	220,437	592,221

Yea	r Ended 3	1"	Decem	be	r 20	21
11	Debtors
								2021		2020
							King Edward Vl
							and the Reverend
							Joseph Prime	Gibson's
							Almshouse Charity	Charity	Total	Total
	Contributions		in arrears				1,787		1,787	6,573
	Provision	for	doubtful		debts		(1,640)		(1,640)	(2,240)
	Other debtors									471
	Prepayments		and accrued			income	2,415	3,950	6,365	5,465
							2,562	3,950	6,512	10,269
12	Creditors:	amounts		falling		due within	one year
								2021		2020
							King Edward Vl
							and the Reverend
							Joseph Prime	Gibson's
							Almshouse Charity	Charity	Total	Total
									P
	Bank loans (note 14)						22,171		22,171	21,332
	Contributions		received		in advance		6,591		6,591	7,908
	Other creditors						5,528		5,528	22,291
	Provision	for	culvert	repairs			215,000		215,000	215,000
	Accruals	and	deferred		income		4,900		4,900	7,100
							254,190		254,190	273,631
13	Creditors:	amounts		falling		due after	more than one year
								2021		2020
							King Edward Vl
							and the Reverend
							Joseph Prime	Gibson's
							Almshouse Charity	Charity	Total	Total
									F	F
	Bank loans and overdrafts					(note 13)	88,075		88,075	110,228
							88,075		88,075	110,228

oans
					2021	2020
					F
The Almshouse Association				Loan	12,600	21,000
Charity	Bank Ltd loan				97,646	110,560
					110,246	131,560
Loans	are repayable	as follows:
In one	year or less				22,171	21,332
Between one and two			years		18,877	22,171
Between two and five			years		50,178	51,209
In five	years or more				19,020	36,848
					110,246	131,560

				Balance at					Gains	Transfers	Balance at31"
				1"January	Income		Expenditure		(losses) on	between	December
				2021					investments	funds	2021
				E				E	F		F
Kin Edward		Vl and the		Reverend	Jose	h Prime		Almshouse	Charit
Unrestricted		Funds
General Fund				40,946	328,536			(186,700)		(131,432)	51,350
Furniture 8	Equipment			5,702				(832)			4,870
Fund
Extraordinary		Repair		201,860				(12,207)	30,671	(120,465)	99,859
Fund
Extraordinary		Repair								100,000	100,000
Fund Special Projects Cyclical Maintenance				129,900			-	(41,106)	19,738	(7,862)	100,670
Fund
Building Fund				154,367	29,683			(17,280)	23,455	153,000	343,225
				532,775	358,219			(258,125)	73,864	(6,759)	699,974
Restricted	Funds
Restricted	Fund					500		(480)			20
Permanent	Endowment		Funds
Permanent				1,309,931						6,759	1,316,690
Endowment		Fund
Total				1,842,706	358,719			(258,605)	73,864		2,016,684
Unrestricted		Funds
General Fund				155,613	17,236				17,396		190,245
Permanent	Endowment			Funds
Capital Fund				401,262					51,579		452,841
Total				556,875	17,236				68,975		643,086
Total				2,399,581	375,955			(258,605)	142,839		2,659,770

Analysis of net assets		between	funds						Creditors
			Fixed		Investments	Current		assets	due more
			assets			(liabilities)			than one
									year	Total
			P				P
Kin Edward Vl and	the Reverend Jose			h	Prime Almshouse		Charit
Unrestricted Funds General Fund							51,350			51,350
Furniture & Equipment			4,870							4,870
Fund Extraordinary Repair Fund					99,859					99,859
Extraordinary Repair		Fund			100,000					100,000
Special Projects Cyclical Maintenance	Fund				100,670					100,670
Building Fund					260,269		82,956			343,225
Total			4,870		560,798		134,306			699,974
Restricted fund								20		20
Permanent Endowment		Funds
Permanent Endowment	Fund		1,425,937				(21,172)		(88,075)	1,316,690
Total			1,430,807		560,798		113,154		(88,075)	2,016,684
Gibson's Charit
Unrestricted Funds
General Fund					177,251			12,994		190,245
Permanent Endowment Funds
Capital Fund					452,841					452,841
Total					630,092			12,994		643,086
Total			1,430,807		1,190,890		126,148		(88,075)	2,659,770