General
Minutes of Penshurst Almshouses Meeting
Wednesday 2 April 2025
In Attendance Reverend Lisa Cornell (Chair) LC Louise Howard (Trustee) LH John O’Shea (Trustee) JOS Duncan Howard (Trustee) DH Wendy Bates (Trustee) WB Kirsten Hudson (Trustee) KH Maggie Atkins (Clerk) MA Absent John O’Shea (JOS)
| No | Discussion Point | Acton |
|---|---|---|
| 1 | Declaratons of Interest was raised – none were declared | None |
| 2 | Minutes from 12thNovember were discussed and approved | MA |
| 3 | Residents’ issues Noise– no further complaints about noise so no acton required but to review if needed including a leter to residents DH’s idea of a buddy system was well received and should be scheduled for each of the Trustees in the future Jean-Philippe Boitel. - Progress as he contnues to be more outgoing. Universal Credit being paid regularly but no back payments have been received, MA to chase via Richard in UC. A six-monthly review to be reinstated with all residents (these had slipped and been done verbally and informally usually via Mervyn) and also an annual review in April involving a fat inspecton with one or two trustees. WB/KH to draw upa list and tmetable,see secton 9 below. |
DH to follow up with other trustees MA to follow up with UC |
| 4 | Building Fabric LH reported that a Quinquennial (fve-year) inspecton of the building’s fabric last took place in 2000 so is due in 2025. Stephen Johnson undertook the 2015 inspecton, Hickman Davies the 2020 inspecton. HD no longer exist but LH will do some research and obtain prices for an inspecton See secton 7 below |
LH |
| 5 | Clerk’s reportAs Bob Atkins passed away at the beginning of January Maggie thanked everyone for giving her space, so consequentlynot much acton tookplace duringthisperiod. |
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| 6 | Operatonal Risk Policy & Finances (JOS) JOS to update us on investments and the risk policy at the next meetng as he was not present today. Richard Cserjen, who has produced the audited accounts for the last few years, will do so again for the 2024 accounts. JOS and MA to review the cash book and bank statements before passing on the material to Richard. |
JOS and MA |
|---|---|---|
| 7 | Mervyn Holt - Fire Safety Adviser/Building Adviser/Caretaker See ‘outstanding issues’ summary from Mervyn sent separately Following two recent problems with the oil tank, (installed +/-30 years ago) it was suggested that we invest in a new tank which would cost around £4,000. (Quotes received from Litle London and Mascells for £4794 and £3936 respectvely, inclusive of VAT) The Trustees decided not to replace the oil tank but instead fx the immediate problems (faulty/problematc oil gage and flter) & research alternatve energy optons. In view of recent and future increases in costs of oil, and environmental costs, various ideas were discussed for heatng alternatves such as air-source and ground source heat pumps, photo-voltaic panels. Investgate Energy Trust, Natonal Lotery, Green Deal. KH & LH to research/investgate optons/funding/best practce etc The boiler was replaced in 2021. The hot water cylinder in fat 6 needed replacing due to corrosion and leak. It is likely that all the cylinders were installed at the same tme and will need imminent replacement. A review of heatng alternatves should include water/insulaton/energy efciency etc. The shower in fat 3 has poor fow and design. MH is going to prepare a quote for replacing current bath/shower with a wet room and pumped system. MH needs to submit weekly/monthly actvity sheets so we can have a record of what is done and when. LH to chase |
MH to get dates from the electrician for EICR work hopefully in April. Updated 30 page Risk Assessment completed by MH and forwarded to Trustees by MA Outstanding issues by MH forwarded to Trustees by MA KH & LH MH/LH to circulate LH/MH |
| 8 | Website WB and KH plan to work together on a website - a frst for Penshurst Almshouses. Gallards Almshouses in |
WB/KH |
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| Southborough have a useful website for reference. The Village Hall recommended Jenny Cooper who they have used successfully and at reasonable cost. MA to pass on contact details to WB/KH |
MA | |
|---|---|---|
| 9 | Property Management/Residents’ Review Draw up outline of management schedule looking at fre, electrics, building maintenance, residents’ review; calendar. Seek advice on independent living from Gallards almshouse in Southborough which has 27 elderly and needy residents; 9 trustees (does JOS have contact with them? Their general number is 01892 528437). Speak also to Almshouse Associaton for their advice on independent living (our membership number is 339). Review the welcome document WB kindly prepared some tme ago. |
WB/KH All, Maggie please circulate again |
| 10 | AOB The group agreed with the decision not to have a cake stall this year but would consider possibilites for next year. MA to purchase an Easter egg and card for each of the residents and to deliver the week before Easter. |
MA has since purchased and delivered a card and Easter egg to each resident and received a thank you from each apart from JP. Mervyn to follow up with JP. |
| 11 | Date of next meetngSuggest setng quarterly for future meetngs: ideally the frst Wednesday of the month (apart from July 2025) Next meetngs: 9 July 2025, 1 October 2025 and 7 Jan 2026, all at 6pm, the Rectory. |
All to note |
With apologies from MA for the delay in issuing these minutes following LH approval.
MA/LH/180425
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Penshurst Almshouses (Housing Association)
Report and Accounts
31 December 2024
General
General
Penshurst Almshouses
Contents of the Financial Statements
For the Period Ended 31[st] December 2024
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
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Penshurst Almshouses (Housing Association)
Trustees Report
The Trustees present their report together with the Financial Statements for the year ended 31[st] December 2024
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
Kirsten Hudson (November 2024)
Page 2
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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
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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
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Page 4
Penshurst Almshouses (Housing Association)
Statement of Comprehensive Income for the Year Ended 31 December 2024
| 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 |
2024 2023 £ £ 26,530 25,510 (28,152) (32,648) 2,209 2,174 200 3 |
|---|---|
| 590 (4,764) - - 590 (4,764) 590 (4,764) 6,649 16,269 |
|
| 7,239 11,505 |
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Page 5
Penshurst Almshouses (Housing Association)
Statement of Financial position as at 31 December 2024
| 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 |
2024 2023 4,677 5,241 175,709 169,060 |
|---|---|
| 180,386 174,301 |
|
| 1,051 1,149 5,684 5,906 |
|
| 6,735 7,055 |
|
| - - |
|
| 187,121 181,356 |
|
| 16,000 16,000 30,000 30,000 133,736 127,087 6,910 6,320 |
|
| 186,646 179,407 |
|
| 475 1,949 |
|
| 187,121 181,356 |
Members of the Board of Trustees Approved by the board on
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……………………………………………..
Page 6
Penshurst Almshouses (Housing Association)
Notes to the Accounts for the year ended 31 December 2024
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) | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| This is stated afer charging: |
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Accountants remuneration
450
475
Page 7
Penshurst Almshouses (Housing Association)
Notes to the Accounts for the year ended 31 December 2024
| 3. | Interest received/ paid | 2024 | 2023 | |
|---|---|---|---|---|
| £ | £ | |||
| Interest received / paid | 3 | |||
| 4.Tangible Fixed Assets | ||||
| Land and | ||||
| Buildings | ||||
| Cost | £ | |||
| At 1 | January 2024 | 18,930 | ||
| At 31 December 2024 | 18,930 | |||
| Depreciaton | ||||
| At 1 | January 2024 | 13,689 | ||
| Charge for the Year | 564 | |||
| At 31 December 2024 | 14,253 | |||
| Net Book Value | ||||
| At 31 December 2024 | 4,677 | |||
| At 31 December 2023 | 5,241 | |||
| 5. | Investments | 2024 | 2023 | |
| £ | £ | |||
| Income Shares | 77,665 | 75,728 | ||
| Charites Ofcial Investment Fund Accumulaton Shares 95,875 | 91,234 | |||
| Natonal Associaton of Almshouses Common | ||||
| Investment Fund | 2,169 | 2,098 | ||
| Total Investments | 175,709 | 169,060 |
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Page 8
Penshurst Almshouses (Housing Association)
Notes to the Accounts for the year ended 31 December 2024
| 6. | Debtors | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| Prepayments | 1,051 | 1,149 | |
| 7. | Creditors: Amounts falling due within one year | 2024 | 2023 |
| £ | £ | ||
| Housing Corporaton Loan | - | - | |
| Other Creditors | 475 | 1,949 | |
| 8. | Housing Associaton Grant | 2024 | 2023 |
| £ | £ | ||
| Grant | - | - | |
| 9. Cyclical Maintenance Reserve | 2024 | ||
| £ | |||
| As at 1 January 2024 | 16,000 | ||
| As at 31 December 2024 | 16,000 | ||
| 10. Extraordinary Repair Fund | 2024 | ||
| £ | |||
| As at 1 January 2024 | 30,000 | ||
| As at 31 December 2024 | 30,000 | ||
| 11. Revaluaton Reserve | 2024 | ||
| £ | |||
| As at 1 January 2024 | 127,087 | ||
| Movement in the Year |
6,649 |
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As at 31 December 2024
133,736
Page 9
Penshurst Almshouses (Housing Association)
Notes to the Accounts for the year ended 31 December 2024
12. General Reserve 2024 £ As at 1 January 2024 6,320 Movement in the Year 590 As at 31 December 2024 6,910
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Page 10
Penshurst Almshouses (Housing Association)
Detailed Income & Expenditure Account for the year ended 31 December 2024
| 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 |
2024 2023 £ £ 26,530 25,510 200 2,490 2,976 - - 6,757 4,959 9,247 7,935 751 1,625 13,015 14,343 5,029 564 564 4,101 2,702 18,430 24,263 475 450 28,152 32,648 |
|---|---|
General
Penshurst Almshouses (Housing Association)
Trustees Report
The Trustees present their report together with the Financial Statements for the year ended 31[st] December 2024
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
Kirsten Hudson (November 2024)
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