REGISTERED CHARITY NUMBER: 211702
LAWRENCE CAMPE'S ALMSHOUSES TRUST
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
LAWRENCE CAMPE'S ALMSHOUSES TRUST
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 30 June 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 12 |
| Detailed Statement of Financial Activities | 13 |
LAWRENCE CAMPE'S ALMSHOUSES TRUST
REPORT OF THE TRUSTEES
for the Year Ended 30 June 2023
The Trustees present their report with the financial statements of the Charity for the year ended 30 June 2023.
OBJECTIVES AND ACTIVITIES
Properties
The charity is responsible for the administration and management of the land situated in Friern Barnet Lane, London, N20, together with the almshouses thereon which, at 30 June 2023, consisted of:
Old Almshouses 7 apartments New Almshouses 4 one person flats 8 two person flats
The market value of the land and old almshouses, for which no figure appears in the balance sheet, has been estimated by the Trustees at £630,000 at 30 June 1999. Both new and old properties are insured for £4,716,880.
The almshouses are available to persons over the age of 50 who have a long standing connection with the area and a low level of capital.
FINANCIAL REVIEW Results
During the year the Charity made an overall surplus on housing activities of £21,971 (2022 - surplus £2,377) and a surplus on non-housing activities of £2,511 (2022 - £729).
Expenditure
Although the Trustees have not refurbished any apartments during the year (the cost in 2022 was £7,212), they continue with their policy of repairs and refurbishment of apartments and flats as required and as they become vacant, although the majority have been completed over the last few years. Funds will need to be rebuilt in the years ahead to provide future provisions for the Almshouses.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document and a deed of trust.
Recruitment and appointment of new trustees
New trustees are recruited and appointed by the existing trustees. The trust deed provides that the body of trustees when complete shall consist of 9 competent persons being 3 ex-officio trustees, 1 nominative trustee appointed for 4 years and 5 co-optative trustees each appointed for a term of 5 years after which they may put themselves forward for reappointment.
Salaries
No member of the Board of Trustees received any remuneration during the year.
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LAWRENCE CAMPE'S ALMSHOUSES TRUST
REPORT OF THE TRUSTEES for the Year Ended 30 June 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Related parties
No member of the Board of Trustees has any interest in any firm of contractors or consultants employed by the Charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 211702
Principal address
231 Woodhouse Road London N12 9BD
Trustees
Ex-officio members: Rev'd D Wilkinson Co-optative members: Mr E S Pratt - Chairman Mrs S Hickman - Secretary Mrs T J Clemens - Treasurer Ms S Davies - Almoner Ms F Cochrane - Church Warden's Representative Nominative member: Councillor L Velleman
Independent Examiner Pomroy Associates Ltd 14a Meadway Court Rutherford Close Stevenage Hertfordshire SG1 2EF
Approved by order of the board of trustees on 1 February 2024 and signed on its behalf by:
Mr E S Pratt - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LAWRENCE CAMPE'S ALMSHOUSES TRUST
Independent examiner's report to the trustees of Lawrence Campe's Almshouses Trust
I report to the charity trustees on my examination of the accounts of Lawrence Campe's Almshouses Trust (the Trust) for the year ended 30 June 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
J M Pomroy Pomroy Associates Ltd 14a Meadway Court Rutherford Close Stevenage Hertfordshire SG1 2EF
Date: 6 February 2024
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LAWRENCE CAMPE'S ALMSHOUSES TRUST
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 June 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 7,300 Charitable activities Maintenance contributions 50,461 Investment income 2 - Total 57,761 EXPENDITURE ON Other operating costs 3 35,782 Net gains/(losses) on investments 1,114 NET INCOME/(EXPENDITURE) 23,093 Transfers between funds - Net movement in funds 23,093 RECONCILIATION OF FUNDS Total funds brought forward 73,369 TOTAL FUNDS CARRIED FORWARD 96,462 |
Restricted fund £ - - 2,511 2,511 22 2,533 - 2,533 122,810 125,343 |
2023 Total funds £ 7,300 50,461 2,511 60,272 35,782 1,136 25,626 - 25,626 192,851 218,477 |
2022 Total funds £ 7,300 45,741 729 53,770 50,664 222 3,328 - 3,328 192,851 196,179 |
|---|---|---|---|
The notes form part of these financial statements
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LAWRENCE CAMPE'S ALMSHOUSES TRUST
BALANCE SHEET 30 June 2023
| Notes FIXED ASSETS Tangible assets 8 CURRENT ASSETS Debtors 9 Investments 10 Cash at bank CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES ACCRUALS AND DEFERRED INCOME12 NET ASSETS FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
2023 £ 185,957 871 28,631 180,720 210,222 (4,623) 205,599 391,556 (169,751) 221,805 96,462 125,343 221,805 |
2022 £ 193,957 3,768 27,495 152,579 183,842 (4,569) 179,273 373,230 (177,051) 196,179 73,369 122,810 196,179 |
|---|---|---|
The financial statements were approved by the Board of Trustees on 1 February 2024 and were signed on its behalf by:
Mr E S Pratt - Trustee
Mrs T J Clemens - Trustee
The notes form part of these financial statements
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LAWRENCE CAMPE'S ALMSHOUSES TRUST
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 30 June 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Freehold land and buildings
The properties are held for the provision of social housing and are stated at cost less depreciation in accordance with the guidance given in the Housing SORP 2018: Statement of Recommended Practice for Registered Social Housing Providers.
Old Almshouses
No figure is included in the balance sheet in respect of the old Almshouses and land comprised in the deed of gift dated 17 March 1612. Reference should be made to the comment in the Trustees Report.
New Almshouses
The new Almshouses are shown at cost, less Housing Association Grant and depreciation, as shown in the notes to these financial statements.
Depreciation
Depreciation has been provided on the new Almshouses at a rate which will write off the cost over a period of 60 years.
Taxation
The charity is exempt from tax on its charitable activities.
Housing association grants
Housing Association Grants (HAG) have been made by the Department of the Environment and have been utilised to reduce the amount of the mortgage loan in respect of the approved scheme to the amount which it is estimated can be serviced by the net annual income of the scheme. The amount of HAG has been calculated on the qualifying costs of the scheme in accordance with instructions issued from time to time by the Department of the Environment. Grants have been accounted for using the accruals method as permitted by FRS102 and in accordance with the guidance in the Housing SORP 2018: Statement of Recommended Practice for Registered Social Housing Providers. Grants are recognised over the useful life of the housing property.
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LAWRENCE CAMPE'S ALMSHOUSES TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2023
| 2. INVESTMENT INCOME Bank interest Investment income 3. OTHER OPERATING COSTS Direct maintenance costs Other direct property costs Administration costs |
2023 £ - 2,511 2,511 2023 £ 20,860 9,515 5,407 35,782 |
2022 £ 191 538 185 2022 £ 36,003 9,504 5,157 50,664 |
|---|---|---|
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 7,300 Charitable activities Maintenance contributions 45,004 Investment income 40 Total 52,344 EXPENDITURE ON Other operating costs 31,285 Net gains/(losses) on investments 455 |
Restricted fund £ - - 145 145 2,000 3,805 |
Total funds £ 7,300 45,004 185 52,489 33,285 4,260 |
|---|---|---|
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LAWRENCE CAMPE'S ALMSHOUSES TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2023
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| fund | fund | funds | |||
| £ | £ | £ | |||
| NET INCOME/(EXPENDITURE) | 21,514 | 1,950 | 23,464 | ||
| Transfers between funds | - | - | - | ||
| Net movement in funds | 21,514 | 1,950 | 23,464 | ||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 42,883 | 123,677 | 166,560 | ||
| TOTAL FUNDS CARRIED | |||||
| FORWARD | 64,397 | 125,627 | 190,024 | ||
| 6. | SPLIT OF NET INCOME | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Housing activities | 2,377 | 2,377 | |||
| Non-housing activities | 729 | 729 | |||
| Net gains/(losses) on investments | 222 | 222 | |||
| Net income/(expenditure) for the year | 3,328 | 3,328 |
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LAWRENCE CAMPE'S ALMSHOUSES TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2023
7. ANALYSIS OF NET INCOME/(EXPENDITURE) FROM HOUSING ACTIVITIES
| Year ended 30 June 2023 Almshouses - 19 units Services Management Property costs Cyclical repairs and maintenance Housing association grants Year ended 30 June 2022 Almshouses - 19 units Services Management Property costs Cyclical repairs and maintenance Housing association grants 8. TANGIBLE FIXED ASSETS COST At 1 July 2022 and 30 June 2023 DEPRECIATION At 1 July 2022 Charge for year At 30 June 2023 NET BOOK VALUE At 30 June 2023 At 30 June 2022 |
Service Income £ 50,461 - - - 7,300 53,041 Service Income £ 45,741 - - - 7,300 53,041 |
Operating Surplus/ Costs (deficit) £ £ (20,860) 29,601 (5,407) (5,407) (9,515) (9,515) - - - 7,300 (35,782) 21,979 Operating Surplus/ Costs (deficit) £ £ (28,791) 16,950 (5,157) (5,157) (9,504) (9,504) (7,212) (7,212) - 7,300 (50,664) 2,377 New Almshouses £ 479,957 286,000 8,000 294,000 185,957 193,957 |
|---|---|---|
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LAWRENCE CAMPE'S ALMSHOUSES TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2023
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other debtors 10. CURRENT ASSET INVESTMENTS Income shares Accumulation shares |
2023 £ 871 2023 £ 3,620 25,011 28,631 |
2022 £ 3,768 2022 £ 3,598 23,897 27,495 |
|---|---|---|
Investments are held in The National Association of Almshouses Common Investment Fund and are valued at fair value. At 30 June 2023 the charity held 4,140 (2022 - 4,140) income shares at a value of 87.44p (2022 – 86.91p) per share and 235 (2022 - 235) accumulation shares at a value of 10,633.69p (2022 – 10,159.86p) per share.
| 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 12. ACCRUALS AND DEFERRED INCOME Deferred government grants 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted fund fund £ £ Fixed assets 185,957 - Current assets 99,751 110,511 Current liabilities (4,623) - Accruals and deferred income (169,751) - 96,462 122,810 |
2023 £ 4,623 2023 £ 169,751 2023 Total funds £ 185,957 210,222 (4,623) (169,751) 221,805 |
2022 £ 4,569 2022 £ 177,051 2022 Total funds £ 193,957 183,842 (4,569) (177,051) 196,179 |
|---|---|---|
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LAWRENCE CAMPE'S ALMSHOUSES TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2023
14. MOVEMENT IN FUNDS
| Net movement At 1.7.22 in funds £ £ Unrestricted funds General fund 73,369 23,093 Restricted funds Provision for cyclical repairs and maintenance 122,810 2,533 TOTAL FUNDS 196,179 25,626 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 58,897 (36,918) Restricted funds Provision for cyclical repairs and maintenance 2,511 - TOTAL FUNDS 61,408 (36,918) Comparatives for movement in funds Net movement At 1.7.21 in funds £ £ Unrestricted funds General fund 63,464 9,905 Restricted funds Provision for cyclical repairs and maintenance 129,387 (6,577) TOTAL FUNDS 192,851 3,328 |
Transfers between funds £ - - - Gains and losses £ 1,114 22 1,136 Transfers between funds £ - - - |
At 30.6.23 £ 96,462 125,343 221,805 Movement in funds £ 23,093 2,533 25,626 At 30.6.22 £ 73,369 122,810 196,179 |
|---|---|---|
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LAWRENCE CAMPE'S ALMSHOUSES TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 30 June 2023
14. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 53,442 | (43,452) | (85) | 9,905 |
| Restricted funds | ||||
| Provision for cyclical repairs and | ||||
| maintenance | 3280 | (7,212) | 307 | (6,577) |
| TOTAL FUNDS | 53,770 | (50,664) | 222 | 3,328 |
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2023.
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LAWRENCE CAMPE'S ALMSHOUSES TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 30 June 2023
| INCOME AND ENDOWMENTS Donations and legacies Housing association grants Investment income Bank interest Investment income Charitable activities Gross maintenance contributions Total incoming resources EXPENDITURE Other operating costs Gardening Utilities General repairs Rental of entry phone Electricity Sundry expenses Insurance Accountancy Cleaning Depreciation of tangible fixed assets Cyclical repairs and maintenance Total resources expended Net income/(expenditure) |
2023 £ 7,300 - 2,511 2,511 50,461 60,272 10,003 - 10,437 655 860 606 3,367 1,434 420 8,000 - 35,782 35,782 24,490 |
2022 £ 7,300 191 538 729 45,741 53,770 11,646 - 16,604 636 624 640 3,077 1,440 541 8,000 7,212 50,664 50,664 3,106 |
|---|---|---|
This page does not form part of the statutory financial statements
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