| Page | ||
|---|---|---|
| Trustees' annual report |
||
| Independent auditor's |
report to the trustees | |
| Statement offinancial | activities | 10 |
| Balance sheet | ||
| Statement ofcash flows | 12 | |
| Notes to the financial | statements | 13 |
| The trustees | The trustees | The trustees | present | present | their | their | report and the financial statements | report and the financial statements | report and the financial statements | ofthe charity | ofthe charity | ofthe charity | ofthe charity | ofthe charity | for the year ended 5April 2022. | for the year ended 5April 2022. | for the year ended 5April 2022. | for the year ended 5April 2022. |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| The financial | statements | have | been | prepared in accordance |
with | the | accounting | policies set out in notes to | ||||||||||
| the accounts | and comply | with the charity's governing document, |
the Charities Act 2011 and | Accounting | and | |||||||||||||
| Reporting | by | Charities: | Statement | of Recommended Practice |
applicable to charities |
preparing | their | |||||||||||
| accounts | in | accordance | with the Financial Reporting Standard |
applicable | in the | UK and Republic of Ireland | ||||||||||||
| published | in | October | 2019. | |||||||||||||||
| Reference | and | administrative | details | |||||||||||||||
| Registered | charity | name | Lowestoft Church and Town | Almshouse Charity |
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| Charity registration | number | 211424 | ||||||||||||||||
| Principal | office | 148 London Road North | ||||||||||||||||
| The trustees | ||||||||||||||||||
| The trustees | who served | during | the | year and at the date ofapproval | were | as follows: | ||||||||||||
| Mr RStebbings - Nominative | / Ex | |||||||||||||||||
| Officio (Chairman) | ||||||||||||||||||
| Mrs J Collins - Co-optative | ||||||||||||||||||
| Miss G P Buckley - Co-optative | ||||||||||||||||||
| Mrs P Shaw - Ex Officio | ||||||||||||||||||
| Mrs M Eccles - Co-Optative | ||||||||||||||||||
| Mr P Knight - Nominative | ||||||||||||||||||
| Miss R Patterson - Nominative | ||||||||||||||||||
| Mrs EYoungman - Nominative |
||||||||||||||||||
| Mr M Gall - Nominative | ||||||||||||||||||
| Mrs A Battrick - Co-optative | ||||||||||||||||||
| Mrs C Leech - Nominative | ||||||||||||||||||
| Mrs G Battrick - Nominative | ||||||||||||||||||
| Clerk | Mr M Breeze | |||||||||||||||||
| Norton Peskett Solicitors | ||||||||||||||||||
| 18Church Plain |
||||||||||||||||||
| Great Yarmouth | ||||||||||||||||||
| Norfolk | ||||||||||||||||||
| Social landlord | ref | A1160 | ||||||||||||||||
| Auditor | Lovewell Blake LLP |
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| Chartered accountants & |
statutory | auditor | ||||||||||||||||
| Excelsior House | ||||||||||||||||||
| 9Quay View Business Park | ||||||||||||||||||
| Barnards Way | ||||||||||||||||||
| Lowestoft | ||||||||||||||||||
| NR32 2HD | ||||||||||||||||||
| Bankers | Barclays Bank Plc | |||||||||||||||||
| 61 London Road North | ||||||||||||||||||
| Lowestoft | ||||||||||||||||||
| Suffolk | ||||||||||||||||||
| NR32 1LT |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||||
| funds | funds | Total funds | Total funds | ||||
| Note | ft. | ||||||
| Income and endowments | |||||||
| Charitable activities |
4 | 416,043 | 416,043 | 382,395 | |||
| Investment income |
5 | 236 | 236 | 450 | |||
| Total income | 416,279 | 416,279 | 382,845 | ||||
| Expenditure | |||||||
| Expenditure on charitable |
activities | 6 | (224,783) | (224,783) | (178,142) | ||
| Total expenditure | (224,783) | (224,783) | (178,142) | ||||
| Net income and net movements | in funds | ||||||
| before gains and losses | on investments | 191,496 | 191,496 | 204,703 | |||
| Net gains on investments | 13,047 | 13,047 | |||||
| Net income before transfer offunds | 204,543 | 204,543 | 204,703 | ||||
| Other recognised gains |
and losses | ||||||
| Gains from revaluation of |
fixed assets | 410,777 | 410,777 | ||||
| Net movement in funds |
615,320 | 615,320 | 204,703 | ||||
| Reconciliation offunds | |||||||
| Total funds brought forward |
6,888,053 | 480,000 | 7,368,053 | 7,163,350 | |||
| Total funds carried forward | 7,503,373 | 480,000 | 7,983,373 | 7,368,053 |
| Balance sheet 5April 2022 |
||||||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| Note | ||||||||
| Fixed assets | ||||||||
| Tangible fixed assets | 12 | 7,908,941 | 7,475,673 | |||||
| Investments | 13 | 113,475 | 66,088 | |||||
| 8,022,416 | 7,541,761 | |||||||
| Current assets | ||||||||
| Debtors | 14 | 7,527 | 5,950 | |||||
| Cash at bank and in | hand | 334,352 | 202,999 | |||||
| 341,879 | 208,949 | |||||||
| Creditors: Amounts | falling due within | |||||||
| one year | 15 | (31,910) | (31,910) | |||||
| Net current assets | 309,969 | 177,039 | ||||||
| Total assets less current | liabilities | 8,332,385 | 7,718,800 | |||||
| Creditors: Amounts | falling due after | |||||||
| more than one year | (349,012) | (350,747) | ||||||
| Net assets | 7,983,373 | 7,368,053 | ||||||
| Funds ofthe charity | ||||||||
| Restricted funds | 480,000 | 480,000 | ||||||
| Unrestricted funds: |
||||||||
| Revaluation reserve |
3,868,545 | 3,457,768 | ||||||
| Other unrestricted | income funds | 3,634,828 | 3,430,285 | |||||
| Total unrestricted funds |
7,503,373 | 6,888,053 | ||||||
| Total charity funds | 18 | 7,983,373 | 7,368,053 |
| Year ended 5April 2 | 022 | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Cash flows from operating | activities | ||||
| Net income | 204,543 | 204,703 | |||
| Adjustments for: |
|||||
| Net gains on investments | (13,047) | ||||
| Other interest receivable and similar income |
(236) | (450) | |||
| Interest payable and similar | charges | 21,814 | 18,621 | ||
| Accrued income | (4,338) | ||||
| Changes in: | |||||
| Trade and other debtors | (1,577) | 774 | |||
| Trade and other creditors | (1,735) | (20,617) | |||
| Cash generated from operations |
209,762 | 198,693 | |||
| Interest paid | (21,814) | (18,621) | |||
| Interest received | 236 | 450 | |||
| Net cash from operating activities |
188,184 | 180,522 | |||
| Cash flows from investing | activities | ||||
| Purchase oftangible assets | (22,491) | (52,807) | |||
| Purchases ofother investments | (34,340) | (33,856) | |||
| Net cash used in investing |
activities | (56,831) | (86,663) | ||
| Cash flows from financing | activities | ||||
| Repayment ofrelated charity |
loan | (25,335) | |||
| Net cash used in financing |
activities | (25,335) | |||
| Net increase in cash and |
cash equivalents | 131,353 | 68,524 | ||
| Cash and cash equivalents | at beginning | ofyear | 202,999 | 134,475 | |
| Cash and cash equivalents | at end ofyear | 334,352 | 202,999 |
| Charitable ac |
tivities | ||||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| F | |||||
| Rent received | 431,921 | 431,921 | 383,997 | 383,997 | |
| Contributions | lost from voids | (27,672) | (27,672) | (19,696) | (19,696) |
| Service charge received | 11,794 | 11,794 | 18,094 | 18,094 | |
| 416,043 | 416,043 | 382,395 | 382,395 |
| Investment | income | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Total | Funds | Unrestricted | Total | Funds | ||
| Funds | 2022 | Funds | 2021 | ||||
| Investment | income | 236 | 236 | 450 | 450 |
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | ||
| R | P | F | |||
| Salaries | 27,372 | 27,372 | 27,807 | 27,807 | |
| Pension | contributions | 5,307 | 5,307 | 4,766 | 4,766 |
| Council | tax | 134 | 134 | 3,037 | 3,037 |
| Window | cleaning | 3,576 | 3,576 | 5,364 | 5,364 |
| Repairs | &maintenance | 70,658 | 70,658 | 52,665 | 52,665 |
| Water rates | 21,403 | 21,403 | 2,636 | 2,636 | |
| Insurance | 4,464 | 4,464 | 4,308 | 4,308 | |
| Light & | heat | 25,752 | 25,752 | 27,325 | 27,325 |
| Telephone | 3,197 | 3,197 | 3,202 | 3,202 | |
| Warden | call | 647 | 647 | ||
| Support | costs | 62,920 | 62,920 | 46,385 | 46,385 |
| 224,783 | 224,783 | 178,142 | 178,142 |
| Support costs | ||||
|---|---|---|---|---|
| Charitable | ||||
| activities | Total 2022 | Total 2021 | ||
| R | ||||
| Interest payable | 7,415 | 7,415 | 7,922 | |
| General expenses | 14,399 | 14,399 | 10,699 | |
| Management and professional |
fees | 19,072 | 19,072 | 11,896 |
| Architects fees | 22,034 | 22,034 | 15,868 | |
| 62,920 | 62,920 | 46,385 |
| 2022 | 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| R | |||||||||
| Fees | payable | for | the | audit | ofthe | financial | statements | 5,670 | 5,670 |
| Staffcosts | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| The total staff | costs and | employee | benefits for | the reporting | period are analysed as follows: | ||||
| 2022 | 2021 | ||||||||
| Wages and salaries | 27,372 | 27,807 | |||||||
| Employer contributions | to | pension | plans | 5,307 | 4,766 | ||||
| 32,679 | 32,573 | ||||||||
| The average | head count | of employees | during | the year was | 2 (2021:2).The average | number | of full- | ||
| time equivalent | employees | during | the year is analysed as follows: | ||||||
| 2022 | 2021 | ||||||||
| No. | No. | ||||||||
| Wardens | 2 | 2 |
| Tangible fixed assets | |||
|---|---|---|---|
| Long Dairy | |||
| Almshouses | Site | Total | |
| Cost or valuation | |||
| At 6 April 2021 | 4,625,582 | 2,850,091 | 7,475,673 |
| Additions | 22,491 | 22,491 | |
| Revaluations | 410,777 | 410,777 | |
| At 5April 2022 | 5,058,850 | 2,850,091 | 7,908,941 |
| Depreciation | |||
| At 6April 2021 and 5April 2022 | |||
| Carrying amount |
|||
| At 5April 2022 | 5,058,850 | 2,850,091 | 7,908,941 |
| At 5 April 2021 | 4,625,582 | 2,850,091 | 7,475,673 |
| Investments | |
|---|---|
| Other | |
| investments | |
| Cost or valuation | |
| At 6 April 2021 | 66,088 |
| Additions | 34,340 |
| Other movements | 13,047 |
| At 5April 2022 | 113,475 |
| Impairment | |
| At 6April 2021 and 5April 2022 | |
| Carrying amount |
|
| At 5April 2022 | 113,475 |
| At 5 April 2021 | 66,088 |
| 14. | Debtors | |||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Prepayments | and accrued income | 1,084 | 1,084 | |||
| Other debtors | 6,443 | 4,866 | ||||
| 7,527 | 5,950 | |||||
| 15. | Creditors: Amounts | falling | due within one year | |||
| 2022 f |
2021 | |||||
| Trade creditors | 2,846 | 2,846 | ||||
| Accruals and | deferred | income | 9,064 | 9,064 | ||
| Amounts owed to connected |
charity | 20,000 | 20,000 | |||
| 31,910 | 31,910 | |||||
| 16. | Creditors: Amounts | falling | due after more than one year | |||
| 2022 | 2021 | |||||
| Amount owed |
to connected | charity | 349,012 | 350,747 |
| At | Gains and | At | |||||
|---|---|---|---|---|---|---|---|
| 6Apr 2021 | Income | Expenditure | Transfers | losses | 5Apr 2022 | ||
| F | F | F | |||||
| General funds | 3,364,197 | 416,279 | (224,783) | (34,340) | 13,047 | 3,534,400 | |
| Designated | Fund | 66,088 | 34,340 | 100,428 | |||
| Revaluation | |||||||
| reserve | 3,457,768 | 410,777 | 3,868,545 | ||||
| 6,888,053 | 416,279 | (224,783) | 423,824 | 7,503,373 | |||
| At | Gains and | At | |||||
| 6 Apr 2020 | Income | Expenditure | Transfers | losses | 5Apr 2021 | ||
| General funds | 3,193,350 | 382,845 | (178,142) | (33,856) | 3,364,197 | ||
| Designated | Fund | 32,232 | 33,856 | 66,088 | |||
| Revaluation | |||||||
| reserve | 3,457,768 | 3,457,768 | |||||
| 6,683,350 | 382,845 | (178,142) | 6,888,053 | ||||
| Restricted | funds | ||||||
| At | Gains and | At | |||||
| 6Apr 2021 | Income | Expenditure | Transfers | losses | 5Apr 2022 | ||
| F | F | f. | f. | ||||
| Restricted | funds | 480,000 | 480,000 | ||||
| At | Gains and | At | |||||
| 6Apr 2020 | Income | Expenditure | Transfers | losses | 5Apr 2021 | ||
| f. | F | ||||||
| Restricted | funds | 480,000 | 480,000 |
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds F |
2022f | ||
| Tangible fixed assets | 7,428,941 | 480,000 | 7,908,941 | |
| Investments | 113,475 | 113,475 | ||
| Current assets | 309,969 | 309,969 | ||
| Creditors greater than | 1 year | (349,012) | (349,012) | |
| Net assets | 7,503,373 | 480,000 | 7,983,373 | |
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| F | ||||
| Tangible fixed assets | 6,995,673 | 480,000 | 7,475,673 | |
| Investments | 66,088 | 66,088 | ||
| Current assets | 177,039 | 177,039 | ||
| Creditors greater than | 1 year | (350,747) | (350,747) | |
| Net assets | 6,888,053 | 480,000 | 7,368,053 |
| Analy | sis | ofc | han | ges | in net debt |
|||||
|---|---|---|---|---|---|---|---|---|---|---|
| At | 6 | Apr 2021 | Cash flows | At 5Apr 2022 | ||||||
| Cash | at | bank | and | in | hand | 202,999 | 131,353 | 334,352 |