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2021-12-31-accounts

REGISTERED CHARITY NUMBER: 212061 REGULATOR OF SOCIAL HOUSING NUMBER: A1464

Report of the Trustees and

Audited Financial Statements for the Year Ended 31 December 2021

for

HAMPTON PAROCHIAL CHARITY

HAMPTON PAROCHIAL CHARITY

Contents of the Financial Statements for the Year Ended 31 December 2021

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 6
Report of the Independent Auditors 7 to 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12 to 23
Detailed Statement of Financial Activities 24 to 25

HAMPTON PAROCHIAL CHARITY

Reference and Administrative Details for the Year Ended 31 December 2021

TRUSTEES Rev D Winterburn (Chairman) Co-opted (St James)
Miss B Healey (Vice Chair) Co-opted
Cllr S Nicholson Nominative (LBRUT)
Mr J Soones JP Nominative (LBRUT)
Miss A Walker Nominative (All Saints)
Rev S Leamy Nominative (LBRUT)
Rev B Lovell Co-opted (St Mary's)
Dr D Wile Co-opted
Mrs P Williams Co-opted
Mrs R McCann Nominative (St Mary's)
Ms A Pietsch Nominative (St James)
Rev D Williams Co-opted (All Saints)
-appointed 22 June 2021
CLERK AND Ms N Hall
HOUSING MANAGER
PRINCIPAL ADDRESS 1A Jubilee House
Ashley Road
Hampton
Middlesex
TW12 2HX
REGISTERED CHARITY 212061
NUMBER
REGULATOR OF SOCIAL A1464
HOUSING NUMBER
AUDITORS Knox Cropper LLP
Chartered Accountants and Statutory Auditors
65 Leadenhall Street
London
EC3A 2AD
BANKERS Barclays Bank plc
10 Clarence Street
Kingston upon Thames
Surrey
KT1 1NY

Page 1

HAMPTON PAROCHIAL CHARITY

Report of the Trustees for the Year Ended 31 December 2021

The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of 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 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

For the financial period the main objective of the Parochial Charity is to provide almshouses accommodation for poor persons of good character who (except in special cases to be approved by the Charity Commissioners) are resident in the area of benefit of the former Civil Parish and Urban District of Hampton as constituted on the 27th January 1933.

Under the scheme of 3 November 1977 (as varied subsequently) the Trustees are empowered to apply income in the maintenance and running of the almshouse property and in the administration of the Charity and to establish and maintain a reserve fund for maintenance.

The Trustees are required to:

St Mary the Virgin, Hampton
St James, Hampton Hill
All Saints, Hampton
(iv)
Defray grants to one or both of the following:
Relief in need - up to £3,500 per annum
The Hampton War Memorial Charity - up to £250 per annum		 £
500
250
250
1,000

Subject to the foregoing payments, the income is to be applied for the benefit of the alms people.

For the purposes of almshouse accommodation, the Charity is also a registered provider of Social Housing (Number A1464).

Public benefit

We have referred to the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and activities. The public benefit of the Charity is in providing safe and comfortable almshouse accommodation for those in need as described in the scheme and living grants to those in need. Whilst many of the activities are local in nature, the Trustees do not consider this to be an unreasonable geographic restriction and those in need are not excluded from benefit.

Charitable activities

Ten flats were occupied for the whole of the year, one flat was vacant for the whole year and one flat was occupied for half of the year.

The trustees explored ways of identifying people in need so that grants could be made in line with the charity's objectives. Financial assistance was given to 2 (2020: 5) deserving applicants in the year totalling £1,016 (2020: £2,358).

Page 2

HAMPTON PAROCHIAL CHARITY

Report of the Trustees for the Year Ended 31 December 2021

FINANCIAL REVIEW

Financial position

As disclosed in the Statement of Financial Activities on page 8 the surplus on total activities for the year before gains and losses on investment was £11,934 (2020: £114).

Investment income and deposit interest was £32,391 (2020: £27,197).

The "housing surplus", or surplus of rents against almshouse operating costs and associated interest payable, amounted to a deficit of £17,878 (2020: £23,445). The charity is dependent on the income generated from its investments to underpin its charitable objectives.

The Endowed Capital Fund as at 31 December 2021 was £1,109,927 (2020: £1,002,841)

The Extraordinary Repair Fund as at 31 December 2021 was £350,994 (2020: £223,179).

The Income Fund as at 31 December 2021 was £16,644 (2020: £80,169).

Investment policy

Funds are invested in such a manner as the Trustees think fit in order to provide an appropriate and balanced portfolio taking into account the requirements of the law relating to the investment of charitable monies, and the investment policy of the Charity.

Reserves policy

The Trustees' reserves policy takes into account the fact that some funds are endowed or designated for specific purposes. In the case of unrestricted funds, the Trustees seek to maintain general reserves which will support the ongoing aims of the Charity and allow it to operate on a going concern basis.

Going concern

The Board has reasonable expectation that the charity has adequate resources to continue operations for the foreseeable future. For this reason, the going concern basis has continued to be used in preparing the financial statements. The Board has considered the impact of Covid-19 on the short and long term health of the charity, and is content that the measures taken, together with a robust budget provides assurance that the going concern basis is appropriate in preparing the financial statements.

FUTURE PLANS

The Trustees intend to continue their current activities in maintaining the almshouse accommodation through the Parochial Charity. The ongoing refurbishment of premises continues, in accordance with the aim of improving the service to tenants and future plans will involve an ongoing review and implementation of any works considered necessary.

Post year end the Trustees updated the Scheme of the charity in respect of widening the area of benefit for those applying for almshouse licenses. The scheme was approved by the Charity Commission on 24 January 2022. The area of benefit now consists of the wards of Hampton, Hampton North, Fulwell and Hampton Hill, and Teddington in accordance with the ward boundaries as amended from time to time, with preference to be given to the wards of Hampton, Hampton North, and Fulwell and Hampton Hill.

The criteria have been further widened to include persons of good character who are in financial hardship who are currently resident or employed or have family residing in the area of benefit, or otherwise have previously resided or been employed in, or have a strong connection to the area of benefit.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity is governed by a scheme dated 3rd November 1977, as amended by a scheme dated 24th January 2022. The Charity's Registered Number is 212061 and it is also registered by the Regulator of Social Housing (Number A1464).

Page 3

HAMPTON PAROCHIAL CHARITY

Report of the Trustees for the Year Ended 31 December 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT Charity constitution

The Charity is administered by a maximum of twelve Trustees, comprising:

Three by the Council of the London Borough of Richmond Upon Thames, who shall be persons who through residence, occupation or employment, or otherwise, have special knowledge of the area of benefit.

One by the PCC of St. Mary the Virgin, Hampton. One by the PCC of St. James, Hampton Hill.

One by the PCC of All Saints, Hampton.

Investment powers are determined by the Trustees Act 2020.

This is a principal Charity and embraces the Charities of the Parochial Quitrents, Mary Gavell, John Turner, Cyrus Maigre, William Cole,Eva Maria Garrick and John Jones.

Charity Governance Code

As a small charity, Hampton Parochial Charity has adopted the Charity Governance Code 2020 for Smaller Charities.

Organisational structure

The management of the Charity is carried out by the Clerk, Ms Nicola Hall, who is also the Housing Manager. The greater part of the administration is concerned with the almshouse accommodation at Jubilee House, built in 1985 to provide twelve almshouse flats.

The Trustees meet at quarterly intervals and the Building, Finance and Appointments Committees meet periodically during the year. The trustees undertake induction training as a trustee on appointment and further trustee training as required.

Internal Controls

The Trustees acknowledge their responsibility for the Charity's system of internal controls, including internal financial controls. The system of controls covers governance, strategy and finance, relating to the safeguarding of assets, the maintenance of proper accounting records and the reliability of financial information used both within the organisation and for publication. The systems established and maintained can provide reasonable but not absolute assurance against material misstatement or loss.

The Trustees give consideration to the major risks to which the charity is exposed and have reviewed the established systems and procedures to manage these risks. It has been agreed that the Trustees will annually review these risks.

Key management remuneration

The trustees receive no remuneration for their services other than the reimbursement of out-of-pocket expenses.

Page 4

HAMPTON PAROCHIAL CHARITY

Report of the Trustees for the Year Ended 31 December 2021

VALUE FOR MONEY (VFM)

Each year the Charity uses a range of data to measure VFM progress against the housing sector. The results help influence investment decisions and provide the regulators and other stakeholders with information on the progress of the Charity, whilst also ensuring compliance with the regulatory VFM standard. The metrics have been compared to Housemark sector scorecard published by the National Housing Federation.

Metric 2021 2020 Housemark
Scorecard		 Commentary
New supply
delivered		 0% 0% 0.90% The Charity has 12 Almshouses in
management. This remains as per the
previous year, with no new supply of
social
housing
or
new
supply
of
non-social housing.
Gearing (2.03)% 5.51% 33.82% The Charity has minimal borrowings
compared
to
industry
standard
repayable in one year.
EBITDA MRI (152.85)% (392.46)% 216% A deficit was made on the provision of
social housing. As a charity, Hampton
Parochial Charity supports its charitable
objectives via its investment returns.
Social Housing
Cost Per Unit		 £6,251 £7,261 £3,891 The charity has done well to monitor
expenditure
in
the
year.
Whilst
expenditure overall was consistent with
the prior year, the improved result
reflects the boiler replacements in 2020
for which there was no repeated capital
spend in 2021.
Operating Margin
Overall
Social Housing
Lettings only		 11.52%
(25.55)%		 0.12%
(35.64)%		 23.54%
25.49%		 As a Charity, Hampton Parochial Charity
receives significant income from its
investments, which produced £32,389 in
2021, thus impacting the operating
margin. This income also underwrites
part of the charity’s operating costs.
ROCE 0.77% 0.01% 3.10% The charity usually incurs a deficit on
social
housing
activities
which
is
covered by income from its charitable
endowments.
Reinvestment 0% 11.35% 5.10% Following the replacement of boilers in
the
previous
year,
no
capital
improvements
were
required.
The
trustees are satisfied that the properties
have been maintained to a good
standard.

RISK MANAGEMENT

The Trustees give consideration to the major risks to which the charity is exposed and have reviewed the established systems and procedures to manage these risks. It has been agreed that the Trustees will annually review these risks.

The Board's focus in the year was on the below principal risks:

Page 5

HAMPTON PAROCHIAL CHARITY

Report of the Trustees for the Year Ended 31 December 2021

RISK MANAGEMENT

Risk of losing Trustees leading to ineffective management of the Charity

The charity currently has 12 Trustees and has undertaken a skills audit to ensure a diverse range of skills is available for the effective running of the charity. The risk of loss of Trustees is mitigated through succession planning involving the wider community of the parish and advice from the Almshouse Association.

Maintaining Properties to Decent Homes Standards in the face of Rising Costs

Reports are made to the Board at each meeting to ensure all properties and inspections are up to date. A rolling programme of works is in place for component replacements to aid the spread of costs. The Charity currently has sufficient Extraordinary Repairs reserves to undertake necessary works as they arise.

Lack of Maintenance Charge Increases and potential for long Void Periods

Income and expenditure are reviewed quarterly and closely monitored by Trustees. Maintenance charge contribution increases are agreed in line with inflation. The charity has widened the catchment area for almspeople to mitigate the risk of long void periods. With the refurbishment works undertaken to date, the Trustees are confident of limiting the void periods to a minimum.

Risk of loss through ineffective financial controls and rising governance costs

Hampton Parochial Charity has documented financial procedures which are adhered to and monitored by Trustees. Trustees also closely monitor budgets and sign off month end financial reports. Governance costs are frequently reviewed and cost-effective services sought via approved suppliers.

Covid-19 Global Pandemic

The Board continue to monitor the outbreak and UK Government advice, together with corresponding with residents. There was no turnover of residents in the year, but the regular monitoring of voids and arrears has been identified as a key risk which has been addressed.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, the Housing and Regeneration Act 2008, the Accounting Direction for Private Registered Providers of Social Housing 2019, and the provisions of the governing document. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website.

Approved by order of the board of trustees on 20 June 2022 and signed on its behalf by:

D Winterburn - Chair

Page 6

Report of the Independent Auditors to the Trustees of Hampton Parochial Charity

Opinion

We have audited the financial statements of Hampton Parochial Charity (the 'charity') for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Page 7

Report of the Independent Auditors to the Trustees of Hampton Parochial Charity

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Page 8

Report of the Independent Auditors to the Trustees of Hampton Parochial Charity

There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Knox Cropper LLP Chartered Accountants and Statutory Auditors 65 Leadenhall Street London EC3A 2AD

Date: 20 June 2022

Page 9

HAMPTON PAROCHIAL CHARITY

Statement of Financial Activities for the Year Ended 31 December 2021

Notes
INCOME AND ENDOWMENTS FROM
Charitable activities
3
Housing
Investment income
2
Total
EXPENDITURE ON
Charitable activities
Housing
Charitable Activitites
Total
Net gains on investments
NET INCOME
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
71,187
32,391
103,578
83,355
2,266
85,621
46,333
64,290
-
64,290
303,348
367,638		 Endowment
fund
£
-
-
-
6,023
-
6,023
113,108
107,085
-
107,085
1,002,842
1,109,927		 2021
Total
funds
£
71,187
32,391
103,578
89,378
2,266
91,644
159,441
171,375
-
171,375
1,306,190
1,477,565		 2020
Total
funds
£
65,775
27,197
92,972
89,220
3,638
92,858
55,004
55,118
-
55,118
1,251,073
1,306,191

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 10

HAMPTON PAROCHIAL CHARITY

Balance Sheet 31 December 2021

Notes
FIXED ASSETS
Tangible assets
12
Investments
13
CURRENT ASSETS
Debtors
14
Cash at bank
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year 16
NET ASSETS
FUNDS
18
Unrestricted funds
Endowment funds
TOTAL FUNDS		 Unrestricted
funds
£
19,175
350,995
370,170
956
68,466
69,422
(6,452)
62,970
433,140
(65,502)
367,638		 Endowment
fund
£
129,612
980,315
1,109,927
-
-
-
-
-
1,109,927
-
1,109,927		 2021
Total
funds
£
148,787
1,331,310
1,480,097
956
68,466
69,422
(6,452)
62,970
1,543,067
(65,502)
1,477,565
367,638
1,109,927
1,477,565		 2020
Total
funds
£
155,912
1,166,648
1,322,560
829
57,756
58,585
(8,822)
49,763
1,372,323
(66,132)
1,306,191
303,349
1,002,842
1,306,191

The financial statements were approved by the Board of Trustees and authorised for issue on 20 June 2022 and were signed on its behalf by:

D Winterburn - Chair

The notes form part of these financial statements

Page 11

HAMPTON PAROCHIAL CHARITY

Notes to the Financial Statements for the Year Ended 31 December 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

Hampton Parochial Charity is a charity constituted under a trust deed and registered as a charity with the Charity Commission of England and Wales. The address of the registered office is given on Page 1.

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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The accounts comply with the Charities Act 2011, the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing in England 2019.

The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The financial statements are presented in sterling, which is the functional currency of the Charity and are rounded to the nearest pound.

The accounts have been prepared to give a 'true and fair view' and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16th July 2014 rather than the Accounting and Reporting by Charities Statement of Recommended Practice effective from 1st April 2005 which has since been withdrawn.

The almshouse properties of the Parochial Charity were redeveloped in 1985 under a scheme approved by the Housing Corporation. A Social Housing Grant was made and a mortgage loan advanced by the Housing Corporation.

Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as a going concern.

Critical accounting judgements and key sources of estimation uncertainty

The following are the critical judgements and key sources of estimation uncertainty that the Board has made in the process of applying the charity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements:

Identification of housing property components

The charity accounts for its expenditure on housing properties using component accounting. Under component accounting, the housing property is divided into those major components which are considered to have substantially different useful economic lives. Judgement is used in allocating property costs between components (land, structure, kitchens, bathrooms etc) and in determining the useful economic lives of each component.

Housing property depreciation is calculated on a component-by-component basis. The identification of such components is a matter of judgement and may have a material impact on the depreciation charge. The components selected are those which reflect how the major repairs to the property are managed.

Page 12

continued...

HAMPTON PAROCHIAL CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

1. ACCOUNTING POLICIES - continued

Incoming resources

Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure.

Housing properties

The almshouse properties are stated at the cost of the redevelopment in 1985 and include development expenditure, interest charged on the mortgage loans and capitalised. No value is included in respect of the land which formed part of the original endowment of the Charity.

Housing properties are stated at depreciated cost. The cost of completed housing properties is depreciated over the life of the properties. Properties are accounted for on a component cost basis with each component being depreciated over its estimated economic life. The principal components identified and the depreciation rate applied to each component are set out below:

Years
Fabric 100
Roof 70
Electrics 40
Windows and doors 30

Page 13

continued...

HAMPTON PAROCHIAL CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

1. ACCOUNTING POLICIES - continued

Housing properties

Bathrooms 30 Mechanical systems 30 Kitchens 20 Boilers 15

Furniture, Fittings and Equipment

Contents additions with an individual value over £2,500 are capitalised with items below this amount being written off to the income and expenditure account. Depreciation on Furniture, Fittings and Equipment has been provided in order to write off the cost over its expected useful life on a straight-line basis. The rate used for this purpose is 20%.

Taxation

The income and gains of Hampton Parochial Charity are exempt from taxation. The Charity is also not registered for Value Added Tax. Consequently, any Value Added Tax paid forms part of the expenditure to which it relates.

Charitable funds

The charitable funds were created from the investments comprised in the original endowments of the Charity together with further donations and accumulated interest and gains thereon.

Designated Reserves

Designated reserves from part of unrestricted reserves which have been earmarked by the Trustees for a particular purpose. Such designations may be reversed by future Trustees' decisions. Expenditure cannot be directly set against designated reserves but is taken to the income and expenditure account. A transfer is then made from designated reserves as appropriate.

Social Housing Grant

The charity received a Social Housing Grant in respect of the almshouse. This is reflected in reserves in the endowed capital fund and is amortised over its useful life.

Endowed Capital Fund

Hampton Parochial Charity received the almshouse and the land on which is built as an endowment. These assets are held in the Endowed Capital Funds, there is no value included in the balance sheet in respect of the land which formed part of the original endowment of the charity. The almshouse property, and subsequent costs of redevelopment and the interest on related loans are reflected in the balance sheet. These are depreciated over the estimated useful economic life of the assets, with depreciation charged through the endowed capital fund by a reduction of the Social Housing Grant

Unrestricted Reserves

Unrestricted reserves are general funds available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 14

continued...

HAMPTON PAROCHIAL CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

1. ACCOUNTING POLICIES - continued

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Investments

Investments are a form of basic financial investment and are initially recognised at their transaction value and subsequently measured at fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluations and disposals throughout the year.

Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value.

2. INVESTMENT INCOME

Investment income
Deposit account interest
3.
INCOME FROM CHARITABLE ACTIVITIES
Gross maintenance contributions from residents
Losses from voids		 2021
£
32,389
2
32,391
2021
£
82,800
(11,613)
71,187		 2020
£
27,174
23
27,197
2020
£
76,378
(10,603)
65,775

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continued...

HAMPTON PAROCHIAL CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

4. GRANTS PAYABLE

Charitable Activitites
The total grants paid to institutions during the year was as follows:
Relief in need
Hampton War Memorial Charity		 2021
£
1,266
2021
£
1,016
250
1,266		 2020
£
2,608
2020
£
2,358
250
2,608

5. SUPPORT COSTS

Management
£
Housing
15,264
Support costs, included in the above, are as follows:
Management
Clerk's salary
Pensions
Subscriptions
Administrative services
Recharges of administrative costs
Finance
Loan		 Governance
Finance
costs
£
£
7,239
5,400
2021
£
17,695
346
536
2,227
(5,540)
15,264
2021
£
7,239		 Totals
£
27,903
2020
£
17,120
-
450
4,027
(5,340)
16,257
2020
£
7,296

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HAMPTON PAROCHIAL CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

5.
SUPPORT COSTS - continued
Governance costs
Auditors' remuneration
6.
AUDITORS' REMUNERATION
Fees payable to the charity's auditors for the audit of the charity's
financial statements		 2021
£
5,400
2021
£
5,400		 2020
£
7,056
2020
£
7,056

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.

8. STAFF COSTS

Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Clerk and Housing Manager		 2021
£
17,695
346
18,041

2021
1		 2020
£
16,800
320
17,120
2020
1

No employees received emoluments in excess of £60,000.

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continued...

HAMPTON PAROCHIAL CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Endowment
funds
fund
£
£
INCOME AND ENDOWMENTS FROM
Charitable activities
Housing
65,775
-
Investment income
27,197
-
Total
92,972
-
EXPENDITURE ON
Charitable activities
Housing
79,532
9,688
Charitable Activities
3,638
-
Total
83,170
9,688
Net gains on investments
26,693
28,311
NET INCOME
36,495
18,623
RECONCILIATION OF FUNDS
Total funds brought forward
266,854
984,219
TOTAL FUNDS CARRIED FORWARD
303,349
1,002,842
10.
SOCIAL HOUSING ACTIVITIES
2021
£
Turnover from Social Housing
71,187
Operating costs of Social Housing
(89,065)
Operating surplus and surplus on Social Housing activities
**(17,878) **		 9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Endowment
funds
fund
£
£
INCOME AND ENDOWMENTS FROM
Charitable activities
Housing
65,775
-
Investment income
27,197
-
Total
92,972
-
EXPENDITURE ON
Charitable activities
Housing
79,532
9,688
Charitable Activities
3,638
-
Total
83,170
9,688
Net gains on investments
26,693
28,311
NET INCOME
36,495
18,623
RECONCILIATION OF FUNDS
Total funds brought forward
266,854
984,219
TOTAL FUNDS CARRIED FORWARD
303,349
1,002,842
10.
SOCIAL HOUSING ACTIVITIES
2021
£
Turnover from Social Housing
71,187
Operating costs of Social Housing
(89,065)
Operating surplus and surplus on Social Housing activities
**(17,878) **		 Total
funds
£
65,775
27,197
92,972
89,220
3,638
92,858
55,004
55,118
1,251,073
1,306,191
2020
£
65,775
(89,220)
(23,445)

Page 18

continued...

HAMPTON PAROCHIAL CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

11. SOCIAL HOUSING GRANT

The total Social Housing Grant received for Hampton Parochial Charity as at 31st December 2021 amounted to £484,402 (2020: £484,402).

The full Capital Grant would only become repayable if the Almshouses were disposed of and the grant was not recycled.

Aggregate amount received
At 31st December 2021 and 31st December 2020
Released to Statement of Financial Activities
At 31st December 2021 and 31st December 2020
Social Housing Grant Carried forward		 £
484,402
(484,402)
-

12. TANGIBLE FIXED ASSETS

COST
At 1 January 2021
Transfer to housing
At 31 December 2021
DEPRECIATION
At 1 January 2021
Charge for year
Transfer to housing
At 31 December 2021
NET BOOK VALUE
At 31 December 2021
At 31 December 2020		 Housing
properties
£
484,402
17,256
501,658
348,769
6,023
863
355,655
146,003
135,633		 Fixtures
and
fittings
£
50,836
(17,256)
33,580
30,558
1,101
(863)
30,796
2,784
20,278		 Totals
£
535,238
-
535,238
379,327
7,124
-
386,451
148,787
155,911

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continued...

HAMPTON PAROCHIAL CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

13. FIXED ASSET INVESTMENTS

MARKET VALUE
At 1 January 2021
Accumulation dividends
Revaluations
At 31 December 2021
NET BOOK VALUE
At 31 December 2021
At 31 December 2020		 Listed
investments
£
1,166,648
5,221
159,441
1,331,310
1,331,310
1,166,648

There were no investment assets outside the UK.

The Investments comprise the following:
202,257 (2020: 202,257) M&G Charity Multi
Asset Fund Income Shares (Endowed)
(Previously the National Association of
Almshouses Common Investment Fund)
1,449.35 (2020: 1.449.35) COIF Accumulation
Shares (E.R.F)
38,757.7 (2020: 38,757.7) COIF Income
Shares (Endowed)
Balance at 31 December 2021		 2021
2020
Market
Value
Cost
Market
Value
Cost
£
£
£
£
184,357
87,352
169,127
87,352
350,994
158,513
299,440
153,292
795,959
180,174
698,081
180,174
1,331,310
426,579
1,166,648
420,818
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
£
Other debtors
8
Prepayments and accrued income
948
956
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
£
Other creditors
6,452
16.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021
£
Other creditors
**65,502 **		 2020
£
-
829
829
2020
£
8,822
2020
£
66,132

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continued...

HAMPTON PAROCHIAL CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

17. LOANS

An analysis of the maturity of loans is given below:

Amounts falling due between two and five years:
Other loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Other loans more 5yrs instal		 2021
£
3,314
62,188		 2020
£
2,981
63,151

The loan was advanced on 1 October 1985 by The Housing Corporation on mortgage, secured by a charge on the Charity's housing land and buildings. By an assignment dated 26 March 1997. The Housing Corporation assigned the Charity's loan to First Orchard Brook Limited and subsequently to NatWest.

The loan is repayable over 60 years by equal half -yearly instalments of £3,903, combining principal and interest. Interest is payable at a rate of 10.875% per annum. The last instalment falls to be repaid in 2045.

18. MOVEMENT IN FUNDS

Unrestricted funds
Income Funds
Extraordinary Repair Fund
Endowment funds
Endowment Capital
TOTAL FUNDS		 At 1.1.21
£
80,169
223,179
303,348
1,002,842
1,306,190		 Net
movement

in funds
£
12,736
51,554
64,290
107,085
171,375		 Transfers

between

funds
£
(76,261)
76,261
-
-
-
At
31.12.21
£
16,644
350,994
367,638
1,109,927
1,477,565

Net movement in funds, included in the above are as follows:

Unrestricted funds
Income Funds
Extraordinary Repair Fund
Endowment funds
Endowment Capital
TOTAL FUNDS		 Incoming
resources
£
98,357
5,221
103,578
-
103,578		 Resources
expended
£
(85,621)
-
(85,621)
(6,023)
(91,644)		 Gains and
Movement
losses
in funds
£
£
-
12,736
46,333
51,554
46,333
64,290
113,108
107,085
159,441
171,375

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continued...

HAMPTON PAROCHIAL CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
Income Funds
Extraordinary Repair Fund
Endowment funds
Endowment Capital
TOTAL FUNDS		 At 1.1.20
£
70,368
196,486
266,854
984,219
1,251,073		 Net
movement

in funds
£
9,802
26,693
36,495
18,623
55,118
At

31.12.20
£
80,170
223,179
303,349
1,002,842
1,306,191

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
Income Funds 92,972 (83,170) - 9,802
Extraordinary Repair Fund - - 26,693 26,693
92,972 (83,170) 26,693 36,495
Endowment funds
Endowment Capital - (9,688) 28,311 18,623
TOTAL FUNDS 92,972 (92,858) 55,004 55,118

Extraordinary Repairs Fund

This represents amounts set aside to carry out future major repairs to Housing Properties. THe movement in year relates to accumulated dividends received in the year together with gains and losses on the CCLA ERF investment.

Endowment Fund

Hampton Parochial Charity received the almshouses and land on which they are built as an endowment. The fund represents the original cost (£267,526) of the property, unrealised gains and losses on investment assets held in endowment funds, and the net book value of the social housing grant. The movement in the period reflects gains and losses on endowment investments and the depreciation on housing properties to write off the grant over the life of the components of the building.

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continued...

HAMPTON PAROCHIAL CHARITY

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

19. RELATED PARTY DISCLOSURES

All of the trustees of the charity are also trustees of The Hampton War Memorial Charity (Charity Number 212062). Hampton Parochial Charity provided a grant of £250 to the charity in the year (2020: £250). Rev B Lovell is also a Trustee of The Parochial Church Council of The Ecclesiastical Parish of St Mary, Hampton (Charity Number 1133768), which received £500 (2020: £500) from the charity. Rev D Winterburn is also a Trustee of The Parochial Church Council of The Ecclesiastical Parish of St James, Hampton (Charity Number 1129286), which received £250 (2020: £250) from the charity. Rev D Williams and Mrs P Williams are also a Trustees of The Parochial Church Council of the Ecclesiastical Parish of All Saints, Hampton (Charity Number 1133867), which received £250 (2020: £250) from the charity. All grants were paid under the objects of the charity. No balances were outstanding at 31 December 2021 (2020: Nil).

20. UNITS IN MANAGEMENT

The Charity had 12 units in Management during the year. (2020: 12).

Page 23

HAMPTON PAROCHIAL CHARITY

Detailed Statement of Financial Activities for the Year Ended 31 December 2021

2021 2020
£ £
INCOME AND ENDOWMENTS
Investment income
Investment income 32,389 27,174
Deposit account interest 2 23
32,391 27,197
Charitable activities
Housing Activities 82,800 76,378
Losses from voids **(11,613) ** (10,603)
**71,187 ** 65,775
Total incoming resources 103,578 92,972
EXPENDITURE
Charitable activities
Water and council tax 1,678 -
Insurance 1,793 1,929
Light and heat 6,400 9,671
Gardening 2,599 1,750
Property repairs and maintenance 31,149 22,614
Sundries 213 34
Entertaining 815 488
Cleaning 1,188 1,272
Church maintenance 1,000 1,000
Royal British Legion - 30
Caretaking costs 8,516 8,809
Depreciation of tangible fixed assets 7,124 12,044
Grants to institutions 1,266 2,608
63,741 62,249
Support costs
Management
Clerk's salary 17,695 16,800
Pensions 346 320
Subscriptions 536 450
Administrative services 2,227 4,027
Recharges of administrative costs **(5,540) ** (5,340)
15,264 16,257
Finance
Loan 7,239 7,296

This page does not form part of the statutory financial statements

Page 24

HAMPTON PAROCHIAL CHARITY

Detailed Statement of Financial Activities for the Year Ended 31 December 2021

2021 2020
£ £
Finance
Governance costs
Auditors' remuneration 5,400 7,056
Total resources expended 91,644 92,858
Net income **11,934 ** 114

This page does not form part of the statutory financial statements

Page 25