## **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.
4. 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).
5. 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.
6. 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.