Draft Minutes of Penshurst Almshouses Meeting
Friday 15[th] March 2024
In Attendance
Reverend Lisa Cornell (Chair) LC; Louise Howard (Trustee) LH (Deputy Chair) John O’Shea (Trustee) JOS Duncan Howard (Trustee) DH Wendy Bates (Trustee) WB Maggie Atkins (Clerk) MA
| No | Discussion Point | Acton | Responsible |
|---|---|---|---|
| 1 | Declaraton of Interest was raised – none were declared | None | None |
| 2 | Minutes from 3rdJanuary meetng were discussed and approved |
MA | |
| 3 | Residents issues: Flat 1- Lee’s 6 months trial period at an end. He has repaid his 4 monthly staggered deposit amounts and his regular monthly WMC is paid by DD. Ongoing concern about the lack of respect shown with regard to keeping his dogs clean afer exercising them. Suggestons of supplying him with a boot jack/rubber matng doesn’t seem to last. The most recent cleaner (Mervyn’s wife) is prepared to contnue but will charge for the extra tme she spends on keeping the place clean. A suggeston was made to issue Lee with a Leter of Concern as a warning and then review it. The meetng felt it didn’t warrant asking Lee to move out and hopefully the leter will have the desired efect. The parking problem has been resolved for the tme being as none of the residents have the need for more than one parking space each. (Since the meetng it has been notced that the Land Rover has been moved, but it seems it is stll not taxed). Flat 2 – Jade Gebbie – no problem. Flat 3 – As the Ukrainian family dropped out it was ofered to Adam Worcester who, together with his parents, is delighted and is applying for UC for it to happen. Thanks to Louise who has been a support to them and also the Ukrainian family. Adam’s moving in at the beginning of March. Flat 4 - JP has setled well but is in need of a washing machine but not a fridge as he has one. JP’s only ofcial contact is with Citzen’s Advice – Sevenoaks DC don’t seem |
LH MA MA |
| to play a part now that he is no longer homeless. Flat 5 – Michael Meade – no partcular issues. Has relatves (? Sister) in Wales who he visits a lot; was very close to Felicity and is missing her. Flat 6 - Trushe and Frank – Mervyn is apparently much happier now that Frank is more mobile and able to exit in an emergency – so there is no need for a PEEP. MA to follow up on the one month’s WMC outstanding (Trushe does not have a DD so MA needs to keeptrack |
|||
|---|---|---|---|
| 4 | Potental new Trustees It was felt that nothing need be done at the present tme as the system is workingwell with the current arrangement |
JOS | |
| 5 | Clerk’s report – no further comment | ||
| 6 | Operatonal Risk Policy & Finances (JOS) including year end accounts. These were approved. Suggested that risk policy should be an item on the agenda at each meetng. Andy Sofley repayment discussed and suggested that the amount is writen of in view of the circumstances. Also Michael needs to be reimbursed £175 following discovery on y/e Accounts. JOS informed the meetng that Plusnet (the almshouse’s current internet provider) has been taken over by BT JOS reminded trustees that we must adhere to an expense approval policy when spend was over an agreed limit. WB agreed to circulate the policy before the next meetng. |
Risk policy at next meetng |
WB |
| 7 | Fire Safety Adviser/Building Adviser/Caretaker role A draf leter had been prepared for Mervyn but as this was discussed in more detail it was suggested that a further draf be produced for approval by the Trustees before sending to Mervyn. |
Update draf and circulate to trustees for comment |
MA |
| 8 | WB was congratulated on her hard work and diligence in her work on the policy review, and obtaining comments and suggestons on the 17 items, the majority of which were signed of at the meetng. |
WB | |
| 9 | AOB Village fete 9 June 2024. A local resident and excellent baker, Cheryl Howard, has ofered to run the almshouses cake stall again with help from me and her daughter and any of the Trustees who might be available (cakes stll welcome from the trustees or trustees’ partners!) The Almshouses Associaton fees have increased |
MA |
| substantally and as they have been partly paid it was suggested that we review this before next year’s subs are due. An idea to have a suggeston box in the hallway with contact details ? who should be included? Meryvn/Margaret. Probably not the Trustees Last, but not least, WB had an excellent suggeston of purchasing an Easter egg and card for each of the residents. We will endeavour to obtain as many of the Trustees’ signatures as possible, and in any case deliver them, bearing in mind the shortage of tme before Easter. |
Mervyn to produce the box MA to purchase and obtain signatures |
MA MA |
|
|---|---|---|---|
| 11 | Date of next meetng – 5.30pm The Rectory 5thJuly | Draf agenda to be circulated no later than 15th June |
MA |
Penshurst Almshouses (Housing Association)
Report and Accounts
31 December 2023
Penshurst Almshouses
Contents of the Financial Statements For the Period Ended 31[st] December 2023
Contents of the Financial Statements
| Page | ||
|---|---|---|
| Trustees report | 1-2 | |
| Accountants report | 3 | |
| Statement of Comprehensive Income | 4 | |
| Statement of Financial Positon | 5 | |
| Notes to the accounts | 6-9 | |
| Detailed Statement of Financial Positon | 10 |
Page 1
Penshurst Almshouses (Housing Association)
Trustees Report
The Trustees present their report together with the Financial Statements for the year ended 31[st] December 2023
Objectives and Organisation
Penshurst Almshouses (Housing Association) was set up to provide accommodation for the needy of the ancient Parish of Penshurst in association with the Charity’s Trust Deed. The charity is registered with the following bodies:
The Housing Corporation (Reg No A2406)
The Charity Commission (Reg no 211205)
The National Association of Almshouses
Review of Articles
All six properties were occupied throughout the year.
Trustees:
The trustees of the Charity during the year were:
Rev L Cornell
Mr D Howard
Mr J O’Shea
Mrs L Howard
Mrs W Bates
Page 2
Penshurst Almshouses
Statement of Trustee’s Responsibilities
Registered social housing legislation requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the registered social landlord and of the surplus or deficit of the registered social landlord for that period. In preparing these financial statements, the trustees are required to select suitable accounting policies and then apply them consistently, make judgements and estimates that are reasonable and prudent, state whether applicable accounting standards have been followed and prepare the financial statements on the going concern basis unless its inappropriate to do so
Accountants
A resolution to reappoint the accountants will be put to the members at the AGM
This report was approved by the board on
Mrs M Atkins
Clerk of the Trustees
Page 3
Penshurst Almshouses
Penshurst Almshouses (Housing Association)
Accountants Report
Accountants Report to the Trustees of Penshurst Almshouses (Housing Association)
You consider that the charity is exempt from an audit for the year. You have acknowledged on the trustees report your responsibilities for ensuring that the charity keeps accounting records that give a true and fair view of the state of affairs of the charity and of its surplus or deficit for the year.
In accordance with your instructions, I have prepared the accounts which comprise the Statement of comprehensive Income, the Statement of Financial position and the related notes from the accounting records of the charity and on the basis of information and explanations you have given to me.
I have not carried out an audit or any other review and consequently I do not express any opinion on these accounts.
R L Cserjen
Accountant
Linnets
The Lane
Fordcombe
Kent
TN3 0RP
Page 4
Penshurst Almshouses (Housing Association)
Statement of Comprehensive Income for the Year Ended 31 December 2023
| Notes Residential Charges Administrative expenses Income From Investments Award Interest Received/ (Paid) 3 Profit / (Loss) on Ordinary activities before taxation Tax on Profit / (Loss) on ordinary activities Total Comprehensive Income ( Loss) for the year Statement of Changes in equity for the Financial year Surplus/ (deficit) for the financial Year Unrealised gain/ (loss) on investments Total Gains and losses recognised since last report |
2023 2022 £ £ 25,510 19,135 (32,648) (66,459) 2,174 2,159 200 12 |
|---|---|
| (4,764) (45,153) - - (4,764) (45,153) (4,764) (45,153) 16,269 (17,266) |
|
| 11,505 (62,419) |
Page 5
Penshurst Almshouses (Housing Association)
Statement of Financial position as at 31 December 2023
| Notes Fixed assets Tangible Assets 4 Investments 5 Current Assets Debtors 6 Cash at Bank and in hand Housing Associaton Grant 8 Total Assets Capital and Reserves Cyclical maintenance Reserve 9 Extraordinary repair Fund 10 Revaluaton reserve 11 General reserve 12 Creditors: Amounts falling due within one year 7 Total Liabilites and Equity |
2023 2022 5,241 5,805 169,060 152,791 |
|---|---|
| 174,301 158,596 |
|
| 1,149 3,395 5,906 6,650 |
|
| 7,055 10,045 |
|
| - - |
|
| 181,356 168,641 |
|
| 16,000 16,000 30,000 30,000 127,087 110,818 6,320 11,084 |
|
| 179,407 167,902 |
|
| 1,949 739 |
|
| 181,356 168,641 |
Members of the Board of Trustees Approved by the board on
……………………………………………..
Page 6
Penshurst Almshouses (Housing Association)
Notes to the Accounts for the year ended 31 December 2023
1. Status of the Charity
The Charity is registered under the Housing Act 1996 and it is wholly engaged in housing activities as defined in that act.
Cash Flow Statement
The trustees have elected to take advantage of the exemptions under FRS1 (Revised) and the Accounting Requirements for Registered Social Landlords General Determination 2000 not to prepare a cash flow statement. The Charity’s financial statements are prepared in accordance with the UK statements of Standard Accounting Practice, Financial Reporting Standards and the Statement of Recommended Practice, Accounting by Registered Social Landlords. The principal accounting policies adopted are as follows:
Accounting Basis
These financial statements, prepared under the historical cost convention, comply with the appropriate legislation and with the Accounting Requirements for Registered Social Landlords General Determination 2000 based on the Housing Corporation Recommended Form of Published Accounts for Housing Associations. Fixed assets are property improvements, which are depreciated.
Investments
All investments are included at market value. Realised and unrealised gains and losses are included as they arise. Gains and losses are shown as movements on the revaluation reserve.
Reserves
Amounts have been transferred to designated reserves out of revenue account surpluses in order to anticipate any liability which might arise in the future.
Designated Funds
The Charity has designated certain funds for specific purposes. These are reflected in the notes. Although there is no legal force to the designations, the charity has decided that setting aside these funds will help the charity make best use of its resources.
| 2. | Operatng Surplus / (defcit) | 2023 | 2022 |
|---|---|---|---|
| £ | £ | ||
| This is stated afer charging: | |||
| Accountants remuneraton | 450 | 430 |
Page 7
Penshurst Almshouses (Housing Association)
Notes to the Accounts for the year ended 31 December 2023
| 3. | Interest received/ paid | 2023 | 2022 | |
|---|---|---|---|---|
| £ | £ | |||
| Interest received / paid | 0 | 12 | ||
| 4.Tangible Fixed Assets | ||||
| Land and | ||||
| Buildings | ||||
| Cost | £ | |||
| At 1 | January 2023 | 18,930 | ||
| At 31 December 2023 | 18,930 | |||
| Depreciaton | ||||
| At 1 | January 2023 | 13,125 | ||
| Charge for the Year | 564 | |||
| At 31 December 2023 | 13,689 | |||
| Net Book Value | ||||
| At 31 December 2023 | 5,241 | |||
| At 31 December 2022 | 5,805 | |||
| 5. | Investments | 2023 | 2022 | |
| £ | £ | |||
| Income Shares | 75,728 | 69,257 | ||
| Charites Ofcial Investment Fund Accumulaton Shares 91,234 | 81,076 | |||
| Natonal Associaton of Almshouses Common | ||||
| Investment Fund | 2,098 | 2,458 | ||
| Total Investments | 169,060 | 152,791 |
Page 8
Penshurst Almshouses (Housing Association)
Notes to the Accounts for the year ended 31 December 2023
| 6. | Debtors | 2023 | 2022 |
|---|---|---|---|
| £ | £ | ||
| Prepayments | 1,149 | 3,395 | |
| 7. | Creditors: Amounts falling due within one year | 2023 | 2022 |
| £ | £ | ||
| Housing Corporaton Loan | - | - | |
| Other Creditors | 1,949 | 739 | |
| 8. | Housing Associaton Grant | 2023 | 2022 |
| £ | £ | ||
| Grant | - | - | |
| 9. Cyclical Maintenance Reserve | 2023 | ||
| £ | |||
| As at 1 January 2023 | 16,000 | ||
| As at 31 December 2023 | 16,000 | ||
| 10. Extraordinary Repair Fund | 2023 | ||
| £ | |||
| As at 1 January 2023 | 30,000 | ||
| As at 31 December 2023 | 30,000 | ||
| 11. Revaluaton Reserve | 2023 | ||
| £ | |||
| As at 1 January 2023 | 110,818 | ||
| Movement in the Year |
16,269 | ||
| As at 31 December 2023 | 127,087 |
Page 9
Penshurst Almshouses (Housing Association)
Notes to the Accounts for the year ended 31 December 2023
12. General Reserve 2023 £ As at 1 January 2023 11,084 Movement in the Year (4,764) As at 31 December 2023 6,320
Page 10
Penshurst Almshouses (Housing Association)
Detailed Income & Expenditure Account for the year ended 31 December 2023
| Income Residental Charges Donaton Administratve Expenses Premises Costs Rates Light and Heat General Administratve Expenses Insurance Repairs and Maintenance Improvements Depreciaton 5yr structural survey Sundry expenses Legal and professional fees Accountancy Fees |
2023 2022 £ £ 25,510 19,135 200 2,976 4,123 - - 4,959 9,525 7,935 13,648 1,625 1,117 14,343 47,333 5,029 739 564 564 2,702 2,628 24,263 52,381 450 430 32,648 66,459 |
|---|---|
Auditor Report to Penshurst Almhouses Trustees
1. Receipts from Mr & Mrs Mulder – Flat 6
In 2023 I can again only see 11 receipts and this was the same issue in 2022. (payments were again erratic – 24/1, 20/2, 3/3, 3/5, 7/6, 5/7, 25/8, 20/9, 2/10, 17/11 and 15/12) I have accrued for the missing income £349.47.
2. Michael Meades – Flat
| payments march to June at old pate | £1,078.48 |
|---|---|
| new rate | £1,400 |
| shortall for march to June | £321.52 |
| shortall for July | £ 80.38 |
| total shortall | £ 401.90 |
| excess payments made | £576.52 |
| monies owing to M Meade | £174.62 |
I have made provision for this in the accounts to be repaid to Mr Meades. This was a point raised in last years audit (2022) and is still outstanding to him. If this is no longer required then in 2024 accounts it could be removed.
3. Building work in 2023
I have attached a schedule of the invoices and work done from/by Creative Improvements which maybe of assistance to the Trustees in the further understanding of the work completed. I also see that in the last quarter of 2022 £300 per month was paid for caretaker duties to Mervyn Holt/ Creative Improvements. This obviously equates to £3,600 pa, a considerable amount in comparison to the rent received pa.
-
Debtors - Maggie Atkins performed work for Margaret Hyde and this was paid for by Penshurst almshouses within her usual monthly fee. The new clerk for MH has I understand agreed to pay this (£800) which I have made provision to be repaid by MH in 2024 (by way of a bank transfer).
-
Amounts owing – Lee Ingram has paid 3 monthly amounts of £108 – a total of £324 as a deposit and Softley has paid £750 as a deposit. An overpayment of £450 was made which will be taken as payment in 2024.
-
Insurance - has risen with a new policy taken out – main policy £1,245.84, re-build survey £146 and management protection policy £232.96. Total £1,625 (2022- £1,117)
7. Almshouses Association Fee
This has increased considerably from £196 to £324. I looked to see what the benefits of membership are and understand this is not a compulsory payment. I would recommend a better understanding of this ongoing cost to the Trustees.
8. Accountancy Fee
I would propose and ask for a modest fee increase of £20 for this year.