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|||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|
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|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||||||||
|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||||||||||
||||||||||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||||||||||
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||||||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|
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|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|
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|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|
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|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|
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|Investment|income|||||||
|---|---|---|---|---|---|---|---|
|||Unrestricted|Total|Funds|Unrestricted|Total|Funds|
|||Funds||2022|Funds||2021|
|Investment|income|236||236|450||450|
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|||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|
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|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|
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|||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|
|||||||||R||
|Fees|payable|for|the|audit|ofthe|financial|statements|5,670|5,670|
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|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|
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|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|
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|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|
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|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|
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|||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|
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|||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|
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|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|
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