REGISTERED CHARITY NUMBER: 212061 REGULATOR OF SOCIAL HOUSING NUMBER: A1464 Report of the Truste08 and Unaudltod Flnanclal Statomènts for tho Yoar Ended 31 D•cember 2023 for HAMPTON PAROQHIAL CHARITY KNOX CROPPER
HAMPTON PAROCHIAL CHARfTY Contents ofthe Flnan¢ial Statements for the Year Ended 31 Dgcember 2023 Pagg Reference and Admlnlstratlvo Detall8 Report of the Trustoes 2 10 7 Independent Examln¢ff$ Roport Statement of Flnanclal Acllvltles Balance Sheet 10 Notes to the Flnan¢lal Statemonts 11 10 22 Dotalled Statement of FSnanclal A1vItIeS 23 10 24
.HAMPTON PAROCHIAL CHARITY Reforpnce and Admlnlstratlve Detalls forthe Year Endèd 31 Decomber 2023 TRUSTEES Rev D Winlerbum (Chairman) Co-opted (Sl James} Miss B Healey (Vice Chalr) Cllr S Nicholson co.opted MrJ Soones JP Nominative (L8RUT) Mlss A Walkor Nominative (LBRU Rev S Leamy Nominative IAII Sainlsl Rev B Lovell Nominative {LBRUTI Dr D Wile Co-opted ISI Mary's} Mrs P Williams opted Mrs R Mrcann copted Mrs S Sevanathan Nominalive (St Mary's) Nominative {Sl James) {Appointed 3 October 20231 Co-opted {All Saints} Rev D Willlams CLERK AND HOUSING MANAGER Ms N Hall PRINCIPAL ADDRESS 1A Jubllee House Ashley Road Hampton Middlesex TW12 2HX REGISTERED CHARITY NUMBER 212061 REGULATOR OF SOCIAL HOUSING NUMBER A1464 INDEPENDENT EXAMINER James Holland-Leader FCA Knox Cropper LLP Chartered Accountants and Statutory Auditors 65 Leadenhall Street London EC3A 2AD BANKERS Barclays Bank plc 10 Clarence Slreel Kingston upon Thames Surrey KT11NY Page 1
,HAMPTON PAROCHIAL CHARITY Report of the Trustègs tor thg Year Endgd 31 Decembèr 2023 The trustees present their report with th8 financial statements of the charity for the year ended 31 December 2023. The Injslees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice appllc?ble to charllies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. OBJECTIVES AND ACTIVITIES ObJectlvg¥ and alms The main objective of the Parochlal 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 constStuted on the 27th January 1933. Under the scheme of 3 November 1977 las varled subsequentty) the Trustees ar8 empowered lo apply income in the malntenance and runnlng of the almshouse property and in the adminlstration of the Charity and to establish and maintain g reserve fund for maintenance. Under the scheme of 24 January 2022 the area of beneffl ol the charity was widened to include the Wards of Hampton, Hampton North, Fuell and Hampton Hlll, and Teddington In acc£Jrdance with Ihe ward boundaries as amended from time to lime with preference given lo the Wards of Hampton. Hampton North and Fulwell and Hampton Hill. Almspeople as bgneficiaries include those of good Charaer who are urTenlly resident or employed or have family reslding In the area of benefit, or otherwise have previougly resided or been employed in, or have a strong connection to the area of benefit. The Trustees are required lo.. Maintsin an Extraordlnary Repair Fund., Defray the oost of keeplng in repair the memorial to Wlliam Cole in the parlsh church of Sl. Mary the Virgin., {iiil Pay the following yearfy sum lo the respectwe Church Wardens for Malnlaining, repairing and Insuring the parish churches of.. Sl Mary the Virgin, Hampton Sl James, Hampton Hlll All Saints, Hampton 500 250 250 livl Defray grants to one or l)olh of the fdlowing.. Rolief need - up to £3,500 per annum The Hampton War Memorial Charily- up to £250 perannum SubJeGI lo the foregoing payments, the income is to be applied for the trenefil of the alms people. For the purpose$ of almshouse accomn)dalion, the Charity Is also a reglstered provider of Sc¢ial Housing (NumberA1464}. Publlc bengflt We have referred to the Charity Commission's general guidan on publlc benefit when revlewing our alms and objeclwes and aclivilies. The public benelil of the Charity is In providing safe and comfortable almshouse accommodation for those in need as described in the scheme and Ilving grants lo those in need. Whilst many of the activities are local in nature, the Trustees do not conslder this to be an unreasonable geographic restrl¢lion and those In need are not exGluded from benefit. Page 2
AMPTON PAROCHIAL CHARITY Roport of the Trugtees for the Ygar Ended 31 Dec•mber 2023 ACHIEVEMENT AND PERFORMANCE Charltable actlvlti Tw61ve flats were occupied for the whole of the year. with no void period$. The trustees explored ways of Idenllfying people In need so that grants Could be made in Ilne wlth the charity's objectives. Flnancial assistance was given lo 5 12022.. 51 deserving applicants in the year tolalling £2,668 (2022.. £3.3841. FINANCIAL REVIEW Flnanclal revlew As disclosed in the Statement of Flnancial Activities on page 9 the surplus on 10181 activitles for the year before gains and losses on investment was £26,114 {2022'. £24,498}. Investment Income and deposit Interest was £36,598 12022,. £34,413). The "housing deflclv,, or deficit of rents against almshouse operating costs and associated interest payable, amounted lo £6.81612022.'£5.531}. The charity is dependent on the income gengraled from its investfflents to underpin it5 charitable objects'ves. The Endowed Capltal Fund as 8131 December 2023 was £1,075,992 {2022'. £1,010,607) The Exlraordlnary Repalr Fund as 8131 De¢ember 2023 wa5 e359,43912022.. £319.4191, The Income Fund as at 31 December 2023 was £57,80712022.' £35,903>. Investment pollcy Funds are invested in such 8 manner as the Trustee5 thlnk fit In order to provide an appropriate and balanced portfollo taking into account the requirements of the law relating to thè investrnenl of ¢harilable monles, and the investment poliw of the Charity. Reserves pollcy The Trustees, reserves policy takes into 8ccount the fact that Some fvnds are endow8d or deslgnaled 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 il lo operate on a going concern basis. Golng concern The Board has reasonablB expectation that the chanly has adequate re80urces to continue operations for the foreseeable future. For this reason, the going cor)cern basis has continued to be used in preparing the financlal statements. The Board has considered the short and long term health of the charity, and is content that a robust budget provides assurance that the going conrn basis is appropriate in preparing the flnancial statements. FUTURE PLANS The Truste8s intend lo continue their current aclivlties in maintaining the almshouse accommodation through the Parochial Charity. The ongoing refurbishment of premises contlnues. In accordan wSlh the alm of Improving the service to tenants and future plans will involve an ongoing review arbd impiemenlation of any works conSided necessary. STRUCTURE. GOVERNANCE AND MANAGEMENT Govornlng document The Charity is governed by a scheme dated 3rd November 1977, as amended by a scheme dated 24th J8nuary 2022. The Charlly's Registered Number is 212061 and it is also registered by the Regulator of Social Housing (Number A14641. Page 3
HAMPTON PAROCHIAL CHARITY Report of Ihg Trustee8 for tho Year Ended 31 D0mber 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Charlty ¢onstitutio The Charity is 8dminislered by a maxlmum of twelve Trustees. ¢omprislng'. la) Six Nominative Trustees appointed for a lem of four years as follows: Three by the Council of the London Borough of Flichmond Upon Thames, who shall be persons who through residence, oc¢upalion or employment, or otheISe, have special knowledge of the area of benefit. One by the PCC of Sl. Mary the Virgin, Hampton. One by the PCC of Sl James, Hampton Hill. One by the PCC of All Saints, Hampton. (b) SIX Coryopted Trustees, appointed for a term of five years. Investment powers are delarmined by the Trustees AGt 2020. This is a principal Charity and embraces the Charities of the Parh1?1 Quitrents, Mary Gavell, John Turner, Cyrus Maigre, William Cole.Eva Maria Garriok and John Jones. Cod& of Governanc• The code of governance adopted by the Trustees is the Charity Governa8 Cod& for Smaller Charitlgs. as this best fits with the aims and objectives of Hamplon Parochial Charity as an Almshouse Charity and represents a Standard of good governance practice lo which all charities should aspire. The Board of Trustee5 confimis compliance Wth the Governance and Financial Viability Standard. In doing so, the Board conflrms that it has an appropriate. robust and prudent business planning. risk and control framework In place. Organlsatlonal 8tructure 'The management of the Charity is carried out by the Clerk, Ms Nicola Hall, who Is also thè Houslng Manager. The greater part of the admlni51ralion is concerned with tho almshouse arxomrnodation at Jubilee House, built in 1985 to provlde e1ve almshouse flats. The Trustees meet al quarter intervals and the Building, Finance and Appolnlments Commillees meet perlodically during the year. The trustees undertake inductlon training as a Iruslee on appointment and fvrther Iruslee Irainlng as required. Internal Controls The Trustees acknowledge thelr responsibility for the Charity's system of intemal controls, Sncluding Internal rinancial controls. The system of controls covers governance. strategy and finance. relating to the safeguarding of assets, the mainlertrance of proper accounting records arbd the reliability of fi'nancial inform81ion used both withln the organisalion and for publication. The systems eslab115h8d and maintsined can provlde reasonable but not absolute assurance a9ainsl material misslalemenl or loss, The Trustees glve consideration to the malor risks to which the Gharlty is exposed and have reviewed the established systems and procedures to manage these risks. 11 has been agreed that the Trustees will annually review thes9 risks. Koy management romuneratlon The Iruslees receive no remuneration for their services olh8r than the relmbursemenl of oul-of-pockel expenses. Page 4
HAMPTON PAROCHIAL CHARITY Report of the Trustees for the Ygar Endgd 31 December 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Rlsk management The Trustees glve consideration to the major risks lo which the charity Is exposed and have reviewed the established systems and proo8dures lo manage these risks. It has been agreed that the Trustees will annually review these risk5. The Board's focus in the year was on Ihe below principal risks.. Risk of losi Trustees leadin lo ine ective mana ement of the Charil The charlty Gurrenlly has 12 Trustees and has undertaken a skills audit lo 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 and advlce from the Almshouse Assccialion. Mainlainin ertie5 to D Standards in the face of Risln Costs Reports are made lo the Board al each meeting to ensure all properties and inspgclions are up lo dale. A rolling programme of works is in place foi Component replacements to aid the spread of costs. The Charity currently has sufficient Extraordinary Repairs reserves lo undertake necessary works as they arise. Lack of Maln ance Cha e Increases and tenlial for lon Void Periods Income and expendlture are reviewed quarterly and closely monllored by Trustees. Maintenance charge contribution increases are a9ree(l in line with inflation. The charity has widened the catchment area for almspeople to mitigate the risk of long void periods. Wth the refurbishment works undertaken lo date, the Trustees are confident of limiting the vold periods to a minimum. Risk of Ios5 throu h ineffectwe financial controls and risin ovemance co Hampton Parochial Charity has documented flnancial procedures which are adhered lo and monitored by Trustees. Trustees also closety monitor budgets and sign off month end flnanGial reports. Governance costs are frequenlty reviewed and cost-&ffe¢tive services sought via approved suppliers. Page S
,HAMPTON PAROCHIAL CFIARITY Report of thg Trust¢¢s for the Year Ended 31 December 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT VALUE FOR MONEY IVFMI Each year the Charlty uses a range of data lo measure VFM progress against the housing sector. The results help influenc8 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 compar8d to the Acuity smaller providers 2022123 results. Melrlc 2023 2022 Aculty Scorecard Commentary Ngw supply delivered 0% 0% 0% The Charity has 12 Almshouses in management. This remains as pgr the previou8 yoar. with no new supply of social housing or new su of non-social housin Gearing 130.37}0 (13.27)% 13.24% The Charity has minimal borrowings compared lo industry slandard rapayable in one year and stren thened cash reserves. EBITDA MRI (28.211% {46.9510 168% A deficit was made on the provlsion of social housing. As a charity, Hampton Parochial Charity supports ils charitable objecttves via ils investment returns. Social Housing Cost Per Unit £6,949 £6.201 £5.395 The charity has done well lo monitor expenditure in the year. Whilst expenditure overall was consistent with the prior year, Hampton Parochial Charlty supports its charitable obj'ectives via its investment returns. Operating Margin Overall 20.93% 21.75 % As a Charity, Hampton Parochial Charity recewes signiflcant income from investmanls, which prodLtced £36.401 in 2023, thus impactlng the operating margin. This income also undeNriles part of the charil eratin costs. Social Housing Letlings only 17.73)% (7.07)lJ/fr 13.21% ROCE 1,68% 1,71% 1.86% The charity usually incurs a defiGit on social housing acfjvities whlch is covered by income from ils charitable endowments. Reinvestment 0% 3.7% The almshouses are maintained to a decent standard, and no capllal imwovemenls were required in the year. The trustees are satisfied that the properties continue to be well maintained. Page 8
HAMPTON PAROCHIAL CHARITY Rfjport of the Trustègs for the Year Ended 31 Decembor 2023 STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordanre with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)- Tre law applicable lo charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust d8ed requlres the trustees to prepare finan¢lal statements for each financial year which giv8 a true and fair view of the stste of affairs of the charity and of the incoming resources and application of resources. including the IrQme and expenditure, of the charity for that period. In preparing those financial ststemenls, the trustees are required to select suitable accounting policies and then apply them consistently., - observe the methods and principles In the Charity SORP., make judgements and estimates that are reasonable and prudent., ppare the linancial statements on the going concern basis unless it is in8ppropriale lo presume that the charity will continue in business. The trustees are responsible for keeping proper aoUntIng records which disG105e with reasonable accuraoy at any lime the finanaal position of the Gharity and to enable them to ensure that the financial slalemenls 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 2022, and the provislons of the trust deed. They are also responsible for safeguarding the assets of the charlty and hence for taking reasonable steps for th8 prevention and detection of fraud and othèr irregularities. Approved by order ofthe board oftruslees on ...Ig loÉlioL4........,.. and signed on its behalf by.. D Winterbum- Chair Page 7
Independent Examiner's Report lo th¢ Tru8ta68 of Hampton Pan)chlal Charity Independent examlnpr's report to thg trustses of Hampton Paro¢hlal Charlty I report to the Charity trustees on my examination of the 8Gcounls of Hampton Parochial Charity (the Trusl) for the year ended 31 December 2023. This report is made lo the Trustees, as a body, In accordance with the terms of my engagement. Our work has begn undertakerb so that we might carry out an Independent Examination of the financial ststements in accordance with the General Dlrections given by the Charity CommissioneTS. To the fullest extent permilled by law, we do not accept or assume responsibility to gnyone other than the Charity and the Charity's Trustees, as a body. for our work or for this report. Responslbllltles and basls of ieport As the charity trusleos of the Trust you are responsible for the preparation of the accounts In accordance with the requiremants of the Charities Act 2011 ('the ACVI. Havlng satisfied myself that the accounts of the Charity are not required lo be audited under Section 136(3) of the Housing and Regeneration Act 2008, an independent examination has been carried out. I rgport In respect of rny examination of the Trusfs accounts carrfed out under se¢tion 145 of the Act and in carrylng out my examination I have followed all applicable Directions glven by the Charity Conwnission under section 145(5)Ib} of the Act. Independent examlner's Statement I have Gompleted my examination. I confirm that no material malters have come to my allenlion in connection with the examination giving me cause lo believe that in any material respect- accounllng records were not kept in respect of the Trust as rèquired by se¢llon 130 of the ACL or secllon 135{2lla) of the Housing and Regeneration Act 2008., or 2. tho accounts do not accord with those reGords', or 3. the accounts do not comply with the applicable requirements ¢onceming the form and content of account$ set out in the Charities IAGcounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a maller considered as part of an independent examination. I have no concern5 and havg come across no other mallers in connection with the examinallon lo which attention should drawn in this report in order to enable a proFer understandin9 of the accounts lo bo reached. James Holland-Leader FCA Knox Cropper LLP Chartered AUntantS 65 Leadenhall Street London EC3A 2A0 Date: i&1.06 [104....,....... P8ge 8
HAMPTON PAROCHIAL CHARITY statement of Flnanclal Actlvltles for the Year Endod 31 DgGember 2023 2023 Total funds 2022 Total funds Unrestricted Endowment funds fund Notes INCOME AND ENDOWMENTS FROM Charltable actlvttlgs Houslng 88,197 88,197 78,201 Inve81menl income 34,413 Total 124,795 112614 EXPENDITURE ON Charltable aetlvltles Housing Charitable Activitites 91,623 3,390 95,013 83,732 Total Nèl gainslllossesl on Investments NET INCOkryEIIEXPENDITURE> 61,924 66,385 127,309 (111.637} RECONCILIATION OF FUNDS Total funds brought forward 355,322 1,010,607 1,365,929 1,477,566 TOTAL FUNDS CARRIED FORWARD 1075,992 1493 238 1365,929 CONTINUING OPERATIONS All income and expenditure has arisen from conllnulng activities. The notes form part of Ihe8e financial statements Pa9e 9
AMPTON PAROCHIAL CHARITY Balance Sheet 310ocember 2023 2023 Total funds 2022 Total funds Unreslri¢ted Endowment funds fund Notes FIXED ASSETS Tangible assets Investments 11 12 17.611 125,179 950,813 142,790 1310256 146,643 1201457 377,083 1,075,992 1,453,046 1,348,100 CURRENT ASSETS Debtors Cash at bank 13 1,280 107 662 1,280 107 662 2,335 108,942 108,942 87,219 CREDITORS Amounts falling due within one year 14 (48621 (4,8621 {4,5911 NET CURRENT ASSETS 104 080 104080 82,628 TOTAL ASSETS LESS CURRENT LIABILlEs 481,133 1,075,992 1,567,125 1,430,728 CREDITORS Amounts falling due after more than one year 15 163,8871 {63,8871 (64,7991 NET ASSETS 417 246 1075 992 1493 238 1.365,929 FUNDS Unrestricted funds Endowment funds 17 417,246 1075 992 355.322 1010.607 TOTAL FUNDS 1493 238 1365.929 The ffi ancial stslements were approved by the Board of Trustee8 and aulhorised for issue on zs.lo.6.i.zo4.......... and were signed on Its b8half by.. D Winterburn - Chair The notes form part of these financial statements Page 10
.HAMPTON PAROCHIAL CHARITY Notes to the FlnaTrclal Statemonts forthe Year Ended 31 Docember 2023 ACCOUNTING POLICIES Ba$ls of preparing the flnan¢lal statemènts Hampton Parochial Charity is a charity constituted under a Irust deed and registered as a charty with the Charity Commission of England and Wales. The address of the regislerBd office is given on Page The financial statements of the charity, which is a publi¢ benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 1021 'Accounling and Reporting by Charities= Statement of Recommended Practice applicable lo charllies preparing their accounts in acGor(lance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 20191,, 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 thg Charities Act 2011, the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing in England 2022. The financial slalements have been prepared under the historal Gost convention, with the exception of investments whith are included al market value. as modlfied by the revaluation of certain assets. The financial statements are presented In slgrfing, whlch is the fiJnctional currency of the Charlty and are rounded to the nearest pound. The accounts have been prepared lo give a Irue and fair vieW and have dgparted from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required to provide a 'lnJe and fair viev¥. 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 PrliCe effective from 181 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. Golng concern The financial statements have been prepared on a going conG8rn basis as th6 Trustees Èelleve that no material uncertainties exist. The Trustees have considered the level of fvnds held and the expected level of income and experKliture for 12 mnlhs from authorising these financial stalemenls. The bu¢Ygeted income and expenditure is sufficient with the level of re8eJves for the Charity to be able to continue as a going concern. Crltlcal ac¢ountlng Judgèments and key sourcès of frstlmatlon uncertalnty The followlng are the critical judgements and key source$ of estimation uncertainty that the Board has made in the PrO$S of applylng the charity's accounting policios and that have the most significant 8ffeot on the amounts recognlsed in the financial slaternents: Identifi¢alion of houslng property Gomponenls The charity accounts for its expenditure on housing properties usln9 component accounting. Under component accounling. the housing property is divided into those major components which are considered lo have substanb'ally different useful economic lives. Judgement is used in allooating property costs beeen compw)nenls (land. slruclure, kltchens, bathrooms etcl and in determining the useful economic lives of each component. Housing propety depreclslion is calculated on a component-by-componenl basls. The idenlificab'on of such Components is a matter of judgement and may have a material impact on the depreciation charge. The comrm)nents selected are those which reflect how Ihg major repairs lo the propety are managed. Page 11 continued...
,HAMPTON PAROCHIAL CHARITY Notes to the Flnanclal Statemonts - ¢ontlnued for Ihe Year Ended 31 Decembgr 2023 ACCOUNTING POLICIES- contlnued Income resources {il All voluntary income 18 included in income on receipt. except where the donor requlres the sum lo be invested to provide income for the Charity'$ purposes, In whlch case il is treated as an endowment. lill Donatlons under gift aid together with associa18d income tax recovery are recognised as Income when the donation is received. Ilii) Legacy income is recognised when the charity is onlitled lo the income, with entitlement being the earlier of the charity being notified of an impending distribution or the legacies being ceived. liv} Grants receivable are credited to income immediately. Social Housing Capital grants are recognised onw when receivable, or In the period in which a scheme is completed and where the amount of the grant has been detemiined. Iv) Rents are recognised on the basls of amounts recelvable in the year. (vil Rents received In advance are included as deferred Incomè in credltor3. Investment income Is earned through holding assets for investment purposes such as shares. It includBd dividend8 and Interest. Where it is not practical lo identify investment management costs incurred wlthin a scheme with reasonable accuracy the investment income is reported net of these costs. 11 is included when the amunt can be measured reliably. Interest income is recognised using the effective interest method and dividend Income is recognised as the Charity's rlghl lo receive payment is established. Re80urces expendod Liabilities are recognised as expendilur8 as soon as there is a legal or conslructlve obligation comrnilting the charity to that expenditure. It is probable that a transfer of eCormi¢ benefrts will b8 required in setttent and the amount of the obligation can be measured reliably. Expendliure is accounted for on an accruals basls and has been classlfied under headings Ihal aggregate all cost related lo the category. Where costs cannot be dlroclly attributed to particular headings they have been allocated to activities ¢n a basis Gonslstent with the use of resources. Grants offered subject to conditions which have not been met at the year end dale are noted as commitment bul not accrued as expenditure. Houslng propgrtle8 The alm8house properties are ststed at the cost of the redevelopment In 1985 and include development expenditure. interest charged on the mortgage loans and capilalised. No value is InGluded in speCt of the land which formed part of the origlnal endowment of the Charity- Housing properties are stated al depreciated cost. The cost of completed housing properties is depreciated ovér the life of the properties. Properties are accounted for on a cornponenl cost basis with each component being depreciated over its estimated economic life. The principal components identified and the depreciats'on rate applied to each component are set out below.. Fabric Roof Eleclrfcs Windows and dcK)rs Years 100 70 40 30 Page 12 ontinued..,
,HAMPTON PAROCHIAL CHARITY Note8 to the Flnan¢lal Statements - contlnued lor the Year Ended 31 Decembor 2023 ACCOUNTING POLICIES - contlnued Houslng propertles Bathrooms Mechanical systems Kitchens Boilers 30 30 20 15 Furnfturé, Flttlngs and Equlpmont Depreciation on Furniture, Fittings and Equipment has been provided in order lo write off the Cost over lis expected useful life on a 51raight line basls. The rale used for this purpose is 20¥•. Taxatlon The income and gains of Hampton Parochial Charity are exempt from taxab'on. The Charity IS 8150 ex9mpt from Value Added Tax. Consequently, any Value Added Tax paid forms part of the expenditure lo whh it relates. Charltablg fund¥ The charllable funds were created from the Investment8 comprised in the origlnal en(lowm8nls of the Charlty together with fvrther donallons and a¢¢umulated interest and gains thereon. Dgslgnated RoseNe8 Designated reseNes fom) part of unrestricted resetves whlch have b8gn earmarked by the Trustees for 2 particular purpose. Such designations may be reversed by future Trustees, decislons. Expenditure cannot be directly sel against designated reserves. bul is taken to the income and expenditure account. A transfer is then made from designated reseNes as appropriate. Soclal HouBlng Grant The charity received a Social Housing Grant in respect of the Slmshouse. This Is reftectod in reserv85 in the endowed capital fund and is amortised over its useful life. Endowed Capltal Fund Hampton Parochial Charity r1Ved the almshouse and the land on whlch is built as an endowment. These assets are held In the Endowed Capital Funds. there Is no value included in the balance sheet in rospecl of the land which formed part of the original endowment of the charity. The almshouse propety, and subsequent costs of redevolopmenl and the interest on related knans are reflected in the balanG8 sheet. These are depreciated over the eslimaled useful economic life of the assets, with depreciation charged through the endowed capllal fund by a reduction of the Social Housing Grant Unrestrlcted ReseNes Unrestted reserves are general fijnds availabl8 for use at the dlscrellon of Ihg Trustees in furtherancg of the general objectives of the charity. Dobtors Trade and other debtors are reGognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Ca8h al bank and In hand Cash at bank and cash in hand includes cash and short lem highly liquid Investments with a short malurily of three months or less from the date of acqulsilion or opening of the deposit or similar account. Page 13 conllnued...
.HAMPTON PAROCHIAL CHARrrY Notos to the Flnancial Statements - contlnued for the Year Ended 31 Decombgr 2023 ACCOUNTING POLICIES- contlnued Dgbtor8 Creditors and provisions are Tecognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds lo a third paty and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their selllement amount after allowing for any trade discounts due. Flnancial Instrumonts The charity only has financial assets and fSnan¢ial liabilitigs of a kind that qualify as basic financial instruments. Basic finaneial instruments are inllially recognised at transaction value and subsequently measured al their settlement value with the exception of bank loan8 which are subsequenlty measured at amortlsgd cost using the effective inlefest method. Investments Investments are a form of basic financial investment and are inllially recognlsed at their transaction value and subsequently measured at fair value as at the balance sheet date using the doslng quoted market price. The statement of finan¢ial activities Includes the net gains and losses arising on revaluations and disp¢sals 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 rinanci81 year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. INVESTMENT INCOME 2023 2022 Investm8rn1 income Deposit account interest 36,401 197 34,394 19 INCOME FROM CHARITABLE ACTIVITIES 2023 2022 Gross maintenanGe conlribullons from residents Losses from volds 88,197 85.251 78.201 Page 14 continued...
'HAMPTON PAROCHIAL CHARITY Not¢¥ to tho Flnanclal Statem•nts - contlnued for the Year Ended 31 Dècèmbgr 2023 GRANTS PAYABLE 2023 2022 Charitsble Acllvitites The total gran15 paid lo institutions during the year was as follows.. 2023 2022 Relief in need 2,668 SUPPORTCOSTS Governance costs Management FinanGe Tolals Housing 18,588 6.972 Support costs. included in the above, are as follows: Management 2023 2022 Total activities Housing Cleth's salary Pensions Subscriptions Adminislfatfve seNices Recharges of adminislralive costs 20,456 426 665 2,681 18,513 542 4,213 Finance 2023 2022 Total activities Housing Loan Governance costs 2023 2022 Total activities Houslng Independent Examination Page 15 continued,..
,HAMPTON PAROCHIAL CHARITY Notè¥ to the Flnanclal Statem8nts - ¢ontlnued for the Year Ended 31 Decèmber 2023 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 Dernber 2023 nor for th8 year &red 31 December 2022. Truste¢s' expen8 There were no trustees. expgnses pald for the year ended 31 December 2023 nor for the year ended 31 December 2022. STAFF COSTS 2023 2022 Wages and salaries Other pension cosls 20,456 426 18,513 369 The av8rage monthly number of employees during the year was as follows: Clerk and Houslng Managér 2023 2022 No employees receiv8d emoluments in exce88 of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Endowment funds fvnd Total funds INCOME AND ENDOWMENTS FROM Charltable actlvltles Housing 78,201 78,201 Investment income Total 112,614 112614 EXPENDITURE ON Charltablo actSvlt198 Housing Charitable A¢livitites 82,689 1,043 83,732 Total 88,118 Nel gainslllossesl on inv8slmenls 98,278 136,1351 NET INCOMEIIEXPENDITURE} (12,316 199,3211 1111,6371 RECONCILIATION OF FUNDS Total fvnds brought forward 367,638 1,109,928 1,477,566 Page 16 conllnued...
,HAMPTON PAROCHIAL CHARITY Notes to thè Flnan¢lal Statemènts - contlnuod for the Year Ended 31 December 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES - contlnued Unrestricted Endowment funds fund Total funds TOTAL FUNDS CARRIED FORWARD 355 322 1010607 1385,929 SOCIAL HOUSING ACTIVITIES 2023 2022 Turnover from Social Housing Operating costs of Social Housing 88.197 95.0131 78.201 83 732) Operating surplus and surplus on Social Housing aclivitles 10. SOCIAL HOUSING GRANT The total Sccial Housing Grant recelved for H8mplon Parochial Charity as at 31st Decembèr 2023 amounted to £484,40212022.' £484,402) The frjll Capllal Grant would onty become repayabl8 if the Almshouses were disposed of and the grant was not recycled. Aggregalg amount received At 31st December 2023 and 31 st December 2022 484 402 Released to S12temenl of Flnancial Activities Al 3151 Dember 2023 and 31st December 2022 484,402 Social Housing Grant Carried forward Page 17 continued...
,HAMPTON PAROCHIAL CHARITY Notos to tho Financlal Ststfrments - contlnued for the Year Ended 31 Dgcemb¢r 2023 11. TANGIBLE FIXED ASSETS Flxlur08 and flttings Housing properties Totals COST At 1 January 2023 Addltlons 601,658 33,580 799 535,23B 799 Al 31 December 2023 536.037 DEPRECIATION At 1 January 2023 Charge for year 356,698 31,897 388,595 At 31 December2023 360,088 NET BOOK VALUE At 31 December 2023 141570 142 790 Al 31 December 2022 144 960 146 643 12. FIXED ASSET INVESTMENT8 Listed investments MARKET VALUE At 1 January 2023 Additions Revaluations 1.201,457 7,604 101 195 At 31 December 2023 1310256 NET BOOK VALUE Al 31 December 2023 1310 256 At 31 December 2022 1201,457 There were no inv851ment assets oulslde tha UK. 2023 Market Value 2022 Marf(et Value Cost Cost The Investments comprise the following.. 202,25712022.. 202,2571 M&G Charity Mulll Asset Fund Income Shares (Endowed) IPr6viously the National Association of Almshouses Common Investment Fund) 1,449.3512022.. 1.449.351 COIF AccumulatSon Shar8s {E.R.F) 38,757.712022.. 38,757.71 COIF Income Shares (Endowed) Balance al 31 December 2023 181.687 87,362 178,613 87,352 369,439 172,395 319.419 164,795 769 150 1,310,256 180,174 703,425 439,921 1,201,457 180.174 426,579 Page 18 ntlnued...
'HAMPTON PAROCHIAL CHARITY Notes to the Flnan¢lal Statements - ¢ontlnued for the Year Ended 31 De¢ember 2023 13. DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 Other debtors Prepaymgnts and a¢¢TuefJ income 2,327 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other creditors 4,591 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2023 2022 Other creditors 16. LOANS An analysis of Ihe maturity of loans Is given below.. 2023 2022 Amounts falling due wilhln one year on demand- Other loans 780 702 Amounts falling been one and years: Other loan8- 1-2 years 868 Amounts falling due betsveen and fwe years.. Other loans - 2-5 years Amounts falling due in more than fve years.. Repayable by instslments.. Other loans more 5yrs instal 59,790 61,115 The loan was vanCed on 1 October 198S by The Housing Corporation on mortgage, secured by a charge on the Charity's housing land and buildings. By an asslgnment dated 26 March 1997 The Houslng Corporation asslgned the Charty's loan to First Orchard Brook Limited arKI subsequently lo Nalwest. The loan is repayable over 80 years by equal half -yearfy instalments of £3.903, comblnlng principal and interest. Interest 1$ payable at a rate of 10.875IJ/o per annum. The last instalmenl falls lo b8 paid in 2045. Page 19 contlnued..,
'HAMPTON PAROCHIAL CHARITY Notgs to the Flnanclal Statements - contlnued for tho Year Endod 31 December 2023 17. MOVEMENT IN FUNDS Net movement in funds At 31.12.23 At1.1.23 Unr¢strlGted funds Income Funds Exlraordlnary R8pair Fund 35,903 319419 21,904 57.807 359.439 355.322 61,924 417,246 Endowmént lunds Endowment Capiial 1,010,607 65,385 1,076,992 TOTAL FUNDS 1 365,929 127 309 1493 238 Net movement in funds. included in the above are as follows.. Incoming resources Resources expended Galns arKI Movement losses in funds Unrgstrlcted funds Income Funds Extraordinary Repair Fund 117,195 (95.291 21,904 124,795 195,291 32,420 81,924 Endowment funds Endowment Capllal 13,3901 68,775 65,385 TOTAL FUNDS 124.795 9B 6811 101 195 127 309 Comparatlve8 for movfjrnent in fund8 Nel ovement in funds At 31.12.22 At1.1.22 Unrostrlctod fund¥ Income Funds Extraordinary Repair Fund 16,644 19.259 35,903 319,419 367,638 112.316) 355,322 Endowmènt funds Endowment Capital 1,109,928 199.321) 1,010,607 TOTAL FUNDS 1477,566 111.637) 1365 929 Page 20 continued...
'HAMPTON PAROCHIAL CHARrrY Notes to thè Flnanclal Statements - contlnued for the Yeai Ended 31 December 2023 17. MOVEMENT IN FUNDS- conllnued Comparative net movement In funds. Included In the above are as follows.. Incoming resources Resources expended Gains and Movement kjsses in funds Unrgstrlcled funds Income Funds Extraordinary Rapalr Fund 106,332 187,0731 19.259 31 575} 37 8571 112,614 (87,073) 137,8571 (12,3161 Endowment fundB Endowment Capital {1,0431 198,278) 199,321} TOTAL FUNDS 112614 88,1161 Extraordlnary Repalrs Fund This represents amounts set aside lo carry out future major repairs lo 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 Charily received the almshouses and land on which they are built as an endowment. The fund represents the original cost1£267,5261 of the property, unrealised gains and losses on investment agset3 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 lo write off the grant over the life of the components of the building. RELATED PARTY DISCLOSURES All of the trustees ol the charlly are also Iruslees of The Hampton War M8morial Charity {Charity Number 212062). Hampton Pamchlal Charity provided 8 grant of £250 to th8 charity in the year 12022.. £2501. Rev B Lovell is also a Trustee of The Parochial Church Council of The E¢desiaslical Parish of Sl Mary, Hampton (Charity Number 11337681. which receivecl £50012022- £50QI from the charity. Rev D Vvlnterburn, Dr D Wile, and Mrs S Sevanalhan {appolnled after the year under review) are also Trustees of The Parochial Church Council of The EGGlesiastical Parish of Sl James. Hampton Hill (Charity Number 1129286), which received £250 {2022'. £2501 from the charlty. Rev D Williams, Mrs P WillSams, and Miss A Walker are also Tru31ees of The Parochigl Church Council of The Ecclesiastical Parish of Al Salnls, Hampton (Charity Number 11338671, which received £250 {2022.' £2501 from the charlty. All grants were paid und8r the objects of the charlty. No balances were outstsnding al 31 Decemkr 202312022.. NIII. The charity also recharged £5,640 (2022.. £6,640) lo The Hampton War Memorial and School of Industry or Girl's School {Charily Number 3128081 for admlnislralive services in the year. All of Hampton ParoGhSal Charity's Truslees are also trustees of both of these Gharilies. No balances were oulstandlng at 31 December 202312022.. Nil). Page 21 continued...
HAMPTON PAROCHIAL CHARITY
Noto¥ to the Flnanelal Statements . eontlnued for the Year Ended 31 December 2023 19. UNIT8 IN MANAGEMENT The Charity had 12 unlts in Management durlng the ye8r. (2022- 121. Pa98 22
'5HAMPTON PAROCHIAL CHARrrY Dfrtalled Statement of Flnancial Actlvllles for the Year Ended 31 Decgmber 2023 2023 2022 INCOME AND ENDOWMENTS Investrnenl Incomo Investment income Deposit account interest 36,401 197 34,394 19 36,598 34,413 Charftablo actlvlti Housing Activities Losses from voids 88,197 85,251 78,201 Total Incomlng resources 124,795 112,614 EXPENDITURE Charltable actlvitle8 Rates and water Insurance Light and heat Gardenlng Property repairs and maintenance Sundries Resident welfare Cleaning Church maintenance Caretakin9 costs Depreciation of Freehold property Depreciation of fi'xtures & fittings Grants to institutions 571 1,990 7,395 4,449 26,723 430 2,037 10,346 4,128 31,105 30 2,485 11 2.113 1.296 1,000 9,570 1,043 1,101 3,384 1,404 1,000 10,243 3,390 1,261 70.097 61,065 Support cost8 Management Clerk's salary Pensions Subscrfptions Adminlslralive services Recharges of administrative costs 20.456 426 685 2,681 18,513 369 542 4,213 18,588 16,997 Flnonce Loan 6,972 7,174 This page does not form part of the statutory financial statemenlg Page 23
IIHAMPTON PAROCHIAL CHARrrY Detalled Statement of Flnanclal A¢tlvlt108 for the Year Ended 31 Decembei 2023 2023 2022 Flnance Govgmance costs Independent Examination 2,880 Total resources expended Net Incomo This page does not form part of the statutory financial statements Page 24