**Registered number: 211272**
# **THE HONYWOOD AND DOUGLAS CHARITY**
**REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
## **THE HONYWOOD AND DOUGLAS CHARITY**
## **REGISTERED SOCIAL HOUSING PROVIDER INFORMATION**
|**Trustees**|Mr A Barr|
|---|---|
||Dr MH Porter (resigned 14 November 2023)|
||Dr AH Taylor|
||Mrs S Greenwood|
||Mr ED Chantler MBE|
||Mr JF Barr (resigned 14 November 2023)|
||Mr MR Ballard|
||Ms H Thorneloe|
||Rev Dr J Huggins|
||S Humphrey (appointed 31 January 2024)|
||Mr P Jarvis|
||Mrs J Gent|
||Mr WH Alexander|
|**Registered number**|211272|
|**Principal address**|The Homestead|
||Grafty Green|
||Maidstone|
||Kent|
||ME17 2AP|
|**Accountants**|MHA|
||Chartered Accountants|
||Victoria Court|
||17-21 Ashford Road|
||Maidstone|
||Kent|
||ME14 5DA|
|**RSH registration number**|A4001|
|**Treasurer**|Mr WJ Collins FCCA|
|**Clerk**|Mrs K Costain|
**THE HONYWOOD AND DOUGLAS CHARITY**
|**CONTENTS**||
|---|---|
||Page|
|**Report of the Trustees**|1|
|**Accountants' Report**|4|
|**Statement of Comprehensive Income**|5|
|**Balance Sheet**|6 - 7|
|**Statement of Cash Flows**|8|
|**Analysis of Net Debt**|9|
|**Notes to the Financial Statements**|10 - 18|
|**Detailed Statement of Financial Activities**|19 - 21|
## **THE HONYWOOD AND DOUGLAS CHARITY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **OBJECTIVES AND ACTIVITIES**
## **Principal activities**
The Charity's governing document is a scheme of the Charity Commissioners of 5 July 1996. This merged the separate Honywood and Douglas charities to be administered and managed together as one charity (registration number 211272). The Honywood and Douglas charities were originally founded in 1622 and 1858 respectively.
The Almshouses belonging to the Charity are used for the accommodation of residents of not less than 60 years of age who, except in special cases approved by the Charity Commissioners, have lived in the ancient Parish of Lenham or the Parish of Boughton Malherbe for at least two years. Appointments of residents are made by the trustees.
The trustees maintain an Extraordinary Repair Fund for the purpose of providing for the extraordinary repair, improvement or rebuilding of the Almshouses. The fund is invested in Accumulation Shares in the M&G Charity Multi Asset fund.
Having constructed almshouses on all the land which it previously owned, a further property was acquired in December 2019, and conversion work, which had been delayed by the Covid-19 pandemic, was completed in 2022 to provide a further three almshouses. This brought the total residential units provided by the charity to 29, all of which were let at the year end.
## **Public benefit**
The trustees have had due regard to the Charity Commission's published guidance on public benefit.
## **Trustees**
The board of trustees usually consists of one ex-officio trustee, four nominated trustees and seven co-opted trustees. Two nominated trustees are appointed by the Parish Council of Lenham and two by the Parish Council of Boughton Malherbe, for a period of four years. Co-opted trustees are appointed by resolution of the trustees for a term of five years.
The trustees who served during the year are detailed on the information page.
The trustees meet regularly, and at least twice a year, to attend to the charity's affairs. Decisions are taken based on a majority of the votes and, in the event of equality of votes, the chairman has a casting vote.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Page 1
## **THE HONYWOOD AND DOUGLAS CHARITY**
## **REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Management of the charity's affairs and risk**
The trustees appointed have local knowledge and are therefore generally aware of the charity's aims and housing stock. New trustees are provided with a copy of the charity's Trust Deed, the latest accounts and details of the obligations of the residents and the trustees.
The day to day management of the charity is delegated to the Treasurer, Mr WJ Collins, under consultation with the Board of Trustees. The overseeing of the ongoing repair of the charity's properties has been delegated to a local maintenance co-ordinator in consultation with the trustees.
The trustees consider that the major risks to which the charity is exposed are the preservation of the properties, the need to comply with relevant legal and regulatory obligations and the need to ensure that all financial transactions are properly recorded. They have therefore put the following systems into place :
(a) the buildings insurance is reviewed annually to ensure it remains appropriate and regular safety checks on fire equipment and gas appliances in the properties are undertaken. The general state of repair of the properties is reviewed by the Board of Trustees;
(b) Mr WJ Collins ensures that he remains up to date with the requirements of the Regulator of Social Housing, the Charities Commission and the National Association of Almshouses and draws any relevant information to the attention of the trustees.
(c) the charity's total income from maintenance contributions is reconciled annually and all major expenditure requires prior approval at a meeting of the trustees.
The trustees consider that the above measures enable them to meet the Value for Money and the Governance and Financial Viability Standards.
## **MARKET VALUE OF LAND AND BUILDINGS**
The trustees consider that the market value of freehold land and buildings is in excess of the amount shown in the financial statements but, as these assets are used in the charity's activities and no disposals are envisaged, the excess has not been quantified.
## **STATEMENT OF TRUSTEES RESPONSIBILITIES**
The trustees are responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Charity law and 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 charity and of its income and expenditure 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, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in business.
Page 2
**THE HONYWOOD AND DOUGLAS CHARITY**
## **REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing in England 2022. They also have a general responsibility for taking reasonable steps to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.
Approved by order of the Board of Trustees on 14 May 2024 and signed on their behalf by:
.............................................................. Mr P Jarvis - Chairman
Page 3
**THE HONYWOOD AND DOUGLAS CHARITY**
## **ACCOUNTANTS' REPORT TO THE BOARD OF TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE HONYWOOD AND DOUGLAS CHARITY FOR THE YEAR ENDED 31 DECEMBER 2023**
We report on the accounts for the year ended 31 December 2023.
## **Respective responsibilities of the Board of Trustees and reporting accountants**
The Board of Trustees of the Registered Social Housing Provider is responsible for the preparation of the accounts, and they consider that the Registered Social Housing Provider is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion.
## **Basis of opinion**
Our procedures consisted of comparing the accounts with the accounting records kept by the Registered Social Housing Provider and making such enquiries of the officers of the Registered Social Housing Provider as we considered necessary for the purpose of this report. These procedures provide the only assurance expressed in our opinion.
## **Opinion**
In our opinion:
- the accounts for year ended 31 December 2023 are in accordance with the accounting records kept by the Registered Social Housing Provider under paragraph 135(2)(a) of the Housing and Regeneration Act 2008;
- having regard only to, and on the basis of the information contained in the accounting records:
- (1) the accounts comply with the requirements of the Charities Act 2011;
(2) the Registered Social Housing Provider has satisfied the conditions for exemption from an audit of the accounts for the year ended 31 December 2023 specified in section 136(3) of the Housing and Regeneration Act 2008;
- the accounts comply with the requirements of the Housing and Regeneration Act 2008 and the Accounting Direction for private registered providers of social housing in England 2022.
## **MHA**
Chartered Accountants Victoria Court 17-21 Ashford Road Maidstone Kent ME14 5DA Date: 24 May 2024
Page 4
## **THE HONYWOOD AND DOUGLAS CHARITY**
## **STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Note**
Maintenance contributions and heating charges
Investment income
**Gross income**
Operating expenses
**Operating surplus/(deficit)**
Interest payable and similar expenses
**Surplus/(deficit) for the financial year**
**Other comprehensive income for the year**
Gains/(losses) on revaluation of investments
**Other comprehensive income for the year**
**Total comprehensive income for the year**|**2023**
**£**
**149,743**
**829**|2022
£
132,552
686|
|---|---|---|
||**150,572**
**(166,086)**|133,238
(112,313)|
||**(15,514)**
**(4,909)**|20,925
(917)|
||**(20,423)**
**3,988**|20,008
(68)|
||**3,988**|(68)|
||**(16,435)**|19,940|
All income and expenditure has arisen from continuing activities.
Approved by the Board of Trustees on 14 May 2024 and signed on their behalf by:
............................................................... Mr P Jarvis - Chairman
............................................................... Mr A Barr - Trustee
The notes on pages 10 to 18 form part of these financial statements.
Page 5
**THE HONYWOOD AND DOUGLAS CHARITY REGISTERED NUMBER: 211272**
## **BALANCE SHEET AS AT 31 DECEMBER 2023**
|**Note**
**Fixed assets**
Tangible assets
7
Investments
8
**Current assets**
Debtors: amounts falling due within one year
9
Current asset investments
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
12
**Net assets**
**Capital and reserves**
Unrestricted funds
14|**16,870**
**16,963**
**71,846**|**2023**
**£**
**814,618**
**63,347**
**877,965**
18,352
16,678
85,072
120,102
(32,018)
**58,724**
**936,689**
**(96,643)**
**840,046**
**840,046**
**840,046**|2022
£
838,969
59,644|
|---|---|---|---|
||||898,613
88,084|
||**105,679**
**(46,955)**|||
|||||
||||986,697
(130,217)|
||||856,480|
||||
856,480|
||||856,480|
Page 6
**THE HONYWOOD AND DOUGLAS CHARITY REGISTERED NUMBER: 211272**
**BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2023**
The financial statements were approved by the Board of Trustees on 14 May 2024 and signed on their behalf by:
............................................................... Mr P Jarvis - Chairman
............................................................... Mr A Barr - Trustee
The notes on pages 10 to 18 form part of these financial statements.
Page 7
## **THE HONYWOOD AND DOUGLAS CHARITY**
|**STATEMENT OF CASH FLOWS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**|||
|---|---|---|
|**Cash flows from operating activities**
(Deficit)/surplus for the financial year
**Adjustments for:**
Depreciation of tangible assets
Interest paid
Interest and dividends received
Decrease/(increase) in debtors
Increase in creditors
**Net cash generated from operating activities**
**Cash flows from investing activities**
Purchase of tangible fixed assets
Sale of unlisted and other investments
Interest received
Dividends received
**Net cash from investing activities**
**Cash flows from financing activities**
New bank loans
Repayment of bank loans
Other new loans
Repayment of other loans
Interest paid
**Net cash used in financing activities**
**Net (decrease)/increase in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at the end of year**
**Cash and cash equivalents at the end of year comprise:**
Cash at bank and in hand|**2023**
**£**
**(20,423)**
**50,204**
**4,909**
**(829)**
**1,482**
**15,640**|2022
£
20,008
26,089
917
(686)
(5,086)
4,432|
||**50,983**|45,674|
||**(25,853)**
**-**
**111**
**718**|
(234,448)
50,539
25
661|
||**(25,024)**|(183,223)|
||**-**
**(26,276)**
**-**
**(8,000)**
**(4,909)**|60,000
(425)
80,000
-
(917)|
||**(39,185)**|138,658|
||**(13,226)**
**85,072**|1,109
83,963|
||**71,846**|85,072|
||**71,846**|
85,072|
||**71,846**|85,072|
The notes on pages 10 to 18 form part of these financial statements.
Page 8
**THE HONYWOOD AND DOUGLAS CHARITY**
## **ANALYSIS OF NET DEBT FOR THE YEAR ENDED 31 DECEMBER 2023**
|Cash at bank and in hand
Debt due after 1 year
Debt due within 1 year|**At 1**
**January**
**2023**
**£**
**85,072**
**(130,217)**
**(9,358)**|**Cash flows**
**£**
**(13,226)**
**33,574**
**701**|**At 31**
**December**
**2023**
**£**
**71,846**
**(96,643)**
**(8,657)**|
|---|---|---|---|
||**(54,503)**|**21,049**|**(33,454)**|
The notes on pages 10 to 18 form part of these financial statements.
Page 9
**THE HONYWOOD AND DOUGLAS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1. General information**
The charity is registered in England with the Regulator of Social Housing as a Registered Social Housing Provider and as a charity. The registered address is The Homestead, Headcorn Road, Grafty Green, Maidstone, ME17 2AP. Details of its principal activities are shown on page 1.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Statement of Recommended Practice for Registered Social Housing Providers 2018 and comply with the Accounting Direction for Private Registered Providers of Social Housing in England 2022.
The financial statements are prepared on a going concern basis and under the historical cost convention as modified by the revaluation of investments.
The following principal accounting policies have been applied:
## **2.2 Turnover**
Turnover represents maintenance contributions and heating charges income receivable in the year, net of maintenance contributions and heating charges losses from voids.
## **2.3 Tangible fixed assets**
Tangible fixed assets (including social housing properties) are stated at cost, less accumulated depreciation and Social Housing Grants.
Freehold land is not depreciated.
Housing properties in the course of construction are stated at cost and are not depreciated.
Depreciation is provided on all other tangible fixed assets to write off the cost, less estimated residual value, over the estimated useful life as follows :
Almshouses and conversions - by equal instalments over 25 years Refurbishment, kitchens and bathrooms - by equal instalments over 15 years Integral features - by equal instalments over 10 years Fixtures - by equal instalments over 5 years
Development costs of properties are capitalised to the extent that they are directly attributable to bringing the properties into working condition for their intended use. Directly attributable costs include costs of architects, surveyors and project administrators.
## **2.4 Taxation**
The charity is exempt from tax on its charitable activities.
Page 10
**THE HONYWOOD AND DOUGLAS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2. Accounting policies (continued)**
## **2.5 Extraordinary repair fund**
The extraordinary repair fund is maintained for the purpose of providing for the extraordinary repair or rebuilding of the Almshouses.
## **2.6 Investments**
Investments are carried at market value or, where this is not readily available, at the Trustees' estimate of market value. Investments held for the long term are included in fixed assets. Investments held as part of short term treasury management are included in current assets.
## **2.7 Debtors and creditors receivable/payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income in other administrative expenses.
## **2.8 Grants**
Grants towards capital expenditure are deducted from the cost of the asset.
## **2.9 Loans and borrowings**
Loans and borrowings are considered to be basic financial instruments and, as such, are measured at amortised cost.
## **2.10 Cyclical repairs and maintenance**
Due to the establishment of a regular programme of repair and maintenance, provision for future works is not made and actual costs are charged to the income and expenditure account when incurred.
## **2.11 Major repairs**
Provisions are made for future major repair costs on all housing properties, in so far as this is not eligible for grants from the Homes and Community Agency or local authorities. Provisions are only recognised to the extent that they represent a present obligation as a result of a past event, a payment is likely to be made and a reliable estimate can be made.
## **2.12 Judgements and key sources of estimation uncertainty**
No significant judgements have had to be made by the trustees in preparing these financial statements, nor have they identified any key sources of estimation uncertainty.
## **2.13 Finance costs**
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Page 11
**THE HONYWOOD AND DOUGLAS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **3. Investment income**
|Dividends received
Interest received|**2023**
**£**
**718**
**111**|2022
£
661
25|
|---|---|---|
||**829**|686|
## **4. Trustees' Remuneration and Benefits**
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **Trustees' Expenses**
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **5. Operating Surplus**
Operating surplus is shown after charging the following:
|Honoraria
Depreciation|**2023**
**£**
**21,100**
**50,204**|2022
£
18,860
26,089|
|---|---|---|
## **6. Turnover**
Turnover comprises maintenance contributions receivable in respect of the housing properties, Douglas and Honywood Almshouses. During the year there were twenty nine units of accommodation available for housing older people, twenty one at Douglas Court, Lenham, five at Honywood Almshouses, Lenham and three at 23 High Street, Lenham.
|**Turnover comprises:**
Maintenance contributions
Charge for heating|**2023**
**£**
**136,363**
**13,380**|2022
£
120,072
12,480|
|---|---|---|
||**149,743**|132,552|
Losses arising from voids and arrears written off amounted to £5,976 (2022: £1,527).
Page 12
**THE HONYWOOD AND DOUGLAS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **7. Tangible fixed assets**
|**Cost or valuation**
At 1 January 2023
Additions
At 31 December 2023
**Depreciation**
At 1 January 2023
Charge for the year on owned assets
At 31 December 2023
**Net book value**
At 31 December 2023
At 31 December 2022|**Freehold**
**property**
**£**
**1,431,613**
**25,853**|**Fixtures and**
**fittings**
**£**
**2,440**
**-**|**Total**
**£**
**1,434,053**
**25,853**|
|---|---|---|---|
||**1,457,466**|
**2,440**|**1,459,906**|
||**592,644**
**50,204**|**2,440**
**-**|**595,084**
**50,204**|
||**642,848**|
**2,440**|**645,288**|
||**814,618**|**-**|**814,618**|
||838,969|
-|838,969|
Freehold property cost amounts to £2,044,317 (2022: £2,018,464) before Social Housing Grants of £586,851 (2022: £586,851), bringing the net property cost to £1,457,466 (2022: £1,431,613).
The Grants are unsecured but would be repayable in the event of the sale of the Almshouses.
During the year all expenditure relating to repairs and maintenance of the existing Almshouses was charged to the Income and Expenditure Account.
Page 13
**THE HONYWOOD AND DOUGLAS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **8. Fixed asset investments**
|**Cost or valuation of accumulation shares**
At 1 January 2023
Revaluations
At 31 December 2023|**Shares**
**£**
**59,644**
**3,703**|
|---|---|
||**63,347**|
There were no investment assets outside the UK.
The historical cost of the accumulation shares as at the balance sheet date is £34,629 (2022: £34,629).
## **9. Debtors**
|Maintenance contribution and heating charges arrears
Maintenance contribution accrued income
Insurance claim|**2023**
**£**
**3,667**
**13,203**
**-**|2022
£
3,687
12,581
2,084
18,352|
|---|---|---|
||**16,870**||
Page 14
**THE HONYWOOD AND DOUGLAS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **10. Current asset investments**
|Income shares|**2023**
**£**
**16,963**|2022
£
16,678|
|---|---|---|
||**16,963**|16,678|
The historical cost of the income shares as at the balance sheet date is £11,599 (2022: £11,599).
During the year there were no purchases or sales of income shares. The market value of the shares held increased by £285 (2022: £536 decrease).
## **11. Creditors: Amounts falling due within one year**
|Bank loans
Other loans
Other creditors
Accruals and deferred income
**Creditors: Amounts falling due after more than one year**
Bank loans
Other loans|**2023**
**£**
**657**
**8,000**
**18,370**
**19,928**|2022
£
1,358
8,000
14,362
8,298|
|---|---|---|
||**46,955**|32,018|
||**2023**
**£**
**32,643**
**64,000**|
2022
£
58,217
72,000|
||**96,643**|130,217|
## **12. Creditors: Amounts falling due after more than one year**
Page 15
**THE HONYWOOD AND DOUGLAS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **13. Loans**
Analysis of the maturity of loans is given below:
|**Amounts falling due within one year**
Bank loans
Other loans
**Amounts falling due 1-2 years**
Bank loans
Other loans
**Amounts falling due 2-5 years**
Bank loans
Other loans
**Amounts falling due after more than 5 years**
Bank loans
Other loans|**2023**
**£**
**657**
**8,000**|2022
£
1,358
8,000|
|---|---|---|
||**8,657**|9,358|
||**784**
**8,000**|
1,426
8,000|
||**8,784**|9,426|
||**2,814**
**24,000**|
5,033
24,000|
||**26,814**|29,033|
||**29,045**
**32,000**|
51,758
40,000|
||**61,045**|91,758|
||**105,300**|139,575|
In 2022, the Charity received £60,000 in regards to a bank loan. The length of the loan is for 240 months with repayments including variable interest at 3.75% over base rate.
In 2022, the Charity received £80,000 loan from the Almshouse Association. The length of the loan is for 120 months and is interest free.
Page 16
**THE HONYWOOD AND DOUGLAS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **14. Movement in funds**
|**Unrestricted funds**
General fund
Extraordinary repair fund
**Total funds**|At 1/1/23
**£**
796,836
59,644|Net
movement in
funds
**£**
**(20,138)**
**3,703**|Transfers
between
funds
£
-
-|At 31/12/23
£
776,699
63,347|
|---|---|---|---|---|
||856,480|**(16,435)**|-|840,046|
||||||
Net movements in funds included in the above are as follows:
|**Unrestricted funds**
General fund
Extraordinary repair fund|Incoming
resources
**£**
**150,572**
**-**|Resources
expended
**£**
**(170,995)**
**-**|Gains and
losses
£
285
3,703|Movements
in funds
£
(20,138)
3,703|
|---|---|---|---|---|
||**150,572**|**(170,995)**|3,988|(16,435)|
Page 17
**THE HONYWOOD AND DOUGLAS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
Comparatives for movements in funds:
|**Unrestricted funds**
General fund
Extraordinary repair fund
**Total funds**|At 1/1/22
**£**
726,827
109,715|Net
movement in
funds
**£**
19,470
468|Transfers
between
funds
£
50,539
(50,539)|At 31/12/22
£
796,836
59,644|
|---|---|---|---|---|
||836,542|19,938|-|856,480|
||||||
Comparative net movements in funds included in the above are as follows:
|**Unrestricted funds**
General fund
Extraordinary repair fund|Incoming
resources
**£**
133,238
**-**|Resources
expended
**£**
(113,230)
**-**|Gains and
losses
£
(536)
468|Movements
in funds
£
19,470
468|
|---|---|---|---|---|
||133,238|(113,230)|(68)|19,938|
The extraordinary repair fund was established under the Trust Deed dated 5 July 1996 for the purpose of providing for the extraordinary repair, improvement or rebuilding of the almshouses of the charity.
Extraordinary repair costs arose during this year for the purposes of the improvements to 23 High Street, Lenham.
Page 18
## **THE HONYWOOD AND DOUGLAS CHARITY**
## **DETAILED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023**
|Maintenance contributions and heating charges
Investment income
**Total incoming resources**
**Less: overheads**
Operating expenditure
**Operating (deficit)/surplus**
Interest payable
**Net (deficit)/income for the year**|**2023**
**£**
**149,743**
**829**|2022
£
132,552
686|
|---|---|---|
||**150,572**|133,238|
||**(166,086)**|
(112,313)|
||**(15,514)**
**(4,909)**|20,925
(917)|
||**(20,423)**|20,008|
Page 19
**THE HONYWOOD AND DOUGLAS CHARITY**
## **SCHEDULE TO THE DETAILED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Income**
Maintenance contributions and heating charges
**Investment income**
Dividends
Interest|**2023**
**£**
**149,743**|2022
£
132,552|
|---|---|---|
||**149,743**|132,552|
||**2023**
**£**
**718**
**111**|
2022
£
661
25|
||**829**|686|
Page 20
**THE HONYWOOD AND DOUGLAS CHARITY**
## **SCHEDULE TO THE DETAILED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Operating expenditure**
Printing and stationery
Advertising and promotion
NAA subscription
Accountancy fees
Bank charges
Sundry expenses
Water and sewerage
Electricity
Gas
Insurances
Depreciation
Monitoring lifelines
23 High Street - running costs
Day to day maintenance
Cyclical and major maintenance
Insurance claim received against repair costs
Christmas alms
Honoraria
Home and Communities Agency subscription
Housing ombudsman subscription
400th anniversary expenses
Loss on sale of investments
**Interest payable**
Loan interest payable|**2023**
**£**
**407**
**210**
**167**
**2,006**
**104**
**969**
**7,580**
**1,479**
**12,066**
**5,119**
**50,204**
**870**
**-**
**23,198**
**36,814**
**-**
**3,160**
**21,100**
**300**
**333**
**-**
**-**|2022
£
289
-
120
1,900
104
294
6,066
1,868
7,927
3,564
26,089
663
519
15,863
24,677
(3,745)
3,190
18,860
300
309
2,918
538|
|---|---|---|
||**166,086**|112,313|
||**2023**
**£**
**4,909**|
2022
£
917|
||**4,909**|917|
Page 21