Ocei*n Enj ID.. 27F84C54.7DA&4851.9BBWCE91CFBED Chrfty Re8151rntloh Nts. 212270 Ilome Ind COmmutleson£Y Rey5tr4tlM No. A1614 BRIGHTON & HOVE ALMSHOUSE CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 DECEMBER 2023
Envdope ID.. 27F84C5¢7DA&4851.9BBgD4C3E91CFBEO BRIGHTON & HOVE ALMSHOUSE CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs K Hancox Reven D Millest Dr F Levack (Appointed 28 September 20231 (Appolnted 28 September 20231 Councillor M Wlnder Charlty number (England and Wales) 212270 Prln¢lp•l addr• Lanes End House 15 Prince Albert Street Brl8hton East Sussex 8NI IHY Accountants Mr N Coker FCCA clo Price & Company 30-32 Gildred8e Road Eastbourne East Sussex BN2145H Bankers Co-operative Bank plc Dew House Southway Skelmersdale Lancashlre WN8 6WT Sollcltors Coole Bews LLP Lanes End House 15 Prince Albert Street 8ri8hton East Su55ex BNI IHY
Docus¥n Env•lop810: 27F84C54-7DAW51.98B&D4C3E91CFBED BRIGHTON & HOVE ALMSHOUSE CHARftY CONTENTS Page Trustees, report Accountants, report Statement of financlal activities Statement of mprehenSIve income Statement of changes in reserves Balance Sheet Notes to the accounts 9-23
Docus En¥ekJp8 D.. 27F84¢54-TDKW51.9B8¢jEg1cFBE BRIGrON & HOVE ALMSHOUSE CHARITY TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present theSr annual report and financial statements for the year ended 31 December 2023. The accounts have been prepared In accordance wlth UK Generally Accepted Accounting PTactice IUK GAAPI includlng Flnincial Reportin8 Standard 102 IFRS 1021 and the Houslng SORP 2018.. Statement of Recommended Practlce for Registered Social Housing Providers and mPlY with the Accountln8 Direction for prlvate reglstered providers of soclal housing in England 2019. ObJectlves and •rtl¥ltles The charity's PTlncipal oblettlve Is to provlde accommodation wlthin the almshouse for poor people of good character residin8 in the former County Borough of Brl8hton and Borough of Hove, now a Unltary Authorlty known as Brl8hton & Hove Clty Counc51. The alm of the charfty Is to retaln the properties contained wlthln the conrtltuent charltles and hold these In a good state of repalr for use as accommodation under the terms of the establlshlng Order. The oblertlves for the comlng year are to make maxlmum use of the propertles for use by the present and prospectlve sIdentS. The trustees have pald due regard to guldance issued by the Charlty Commlsslon In decldlng what actlvities the charity should undertake. When Teviewing the charity's aims and oblectlves and p13nnlng its actlvities the trustees have had due regard to the Charlty Commls51on'5 publlc benefll guldance, Includlng Its guldance on fee ¢har8Sng. The chartty holds the propertles In 8rl8hton and they have been occupled throughout the year by residents fulflllln8 the crllerla of the principal objective of the charlty. Achl•vem•nts and perforniance All of the 12 almshouses were all fully occupled throu8hout the year. Expendlture on the houses has been contalned wlthln budBet In the year, and funds have been set aslde for future malntenance. No repalr and renovation expenditure has been charged to the Cyclical Repalr Fund In the year. Flnan<lal revlew The flnanclal results for the year ended 31 December 2023 are shown In the attached flnancial statements. The statement of comprehenslve Income on pa8e 5 shows that the net movement In funds In the year amounted to £13,999. The trustees gard the financial position at 31 December 2023 a5 5atlsfactory and conslder that sufflclent Serves are held to ensu the ¢ontlnuance of the trust5. It Is the policy of the charity th* unrestricted funds whlch have not been des18nated for a speclftc use should be maintalned at a level equivalent to between three and six month's expendlture. The trurtees consider that reserves at this level will ensure that, in the event of a slgnlflcant drop in fundlng, they will be able to continue the charity's current activities while consideration 15 8iven to ways in whlch addltlonal fund5 may be raised. Thls level of reserves has been maintalned throughout the year.
Lkncus*n Enveknpj ID.. 27F84C5¥70w8514BBWC3E91CFBED BRIGHTON & HOVE ALMSHOUSE CHARITY TRUSTE£S' REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 The trusiees have asse55ed the major risks to whlch the charlty is exposed, and are 5atlsfied that systems are In place to mltlgate exposure to the major risks. The trustees intend to contlnue the provision of accommodation for poor people of good character, and wlll maintaln the present properties in Bood order and hold investments as at present a5 a means of contlnulng the charlty's objertSves. Stiurturei govern•n¢¢ and m•nwment The charlty was establbshed by the Order of the Chaflty Commlssioners on 18 September 1973. There are twelve almshouses which are situated at Hanover Place, 6rb8hton. East Sussex. The eS8ht con5tltuent charltles are11sted below. l. The charity called Howell's Almshouse, Brighton, in the county of Brighton and In the borough of Hove. In the county of Sussex. comprlsed In a deed ol 8rant dated 20 August 1859 and a scheme of the Charlty Commlssloners of 22 lune 1966; 2. The charity called the Perry Wagner Almshouses, In the county borough of 8rl8hton regulated by scheme of the Charlty Commisslonets of 3 December 1957: 3. The charlty known as the PilBrim's Cotta8es at Brighton, In the county of Sussex re8ulated bv conveyance dated 28 December 1854; 4. The charlty of Laura Sophla Soames for ihe residents in the cottages of the sald charlty numbered 3 above whlch charity is re8ulated by declaration of trust dated 21 June 1884- S. The charlty of Laura Sophia Soames for the repalr of the cottage5 Qf the said charfty numbered 3 above which 55 regulated by declaration of trust dated 17 September 1887: 6. The charity called the Wld¢)ws' Cottages at 8rl8hton In the county of Sussex re8ulated by declaratSon of trust dated 25 May 1852: 7. The charlty of Laura Sophia 5oames for the resldents of the cottages of the charlty numbered 6 above whlch charity is regulated by the saSd declaratlon of trust dated 21 June 1884: 8. The charity of Laura Sophla Soame5 for the repalr of the cottages of the sald charlty numbered 6 above, whSch charity is regulated by the sald declaration of trust dated 17 September 1887 and In the matter of the CharltSes Act 1960. The charity Is gIStered with the Charltle5 Commission (registration no. 2122701 and the Homes and Communities Agenry IRe8lstration number A16141.
DocuslGn Envebpe ID.. 27F84C51.7DA5485148gW¢W1CFBED BRIGHTON & HOVE ALMSHOUSE CHARITY TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The tru51ee5 who served durlng the year and up to the date of s18nature of the flnanclal ststements were.. Mrs K Hancox CounclSlor S Powell Reverend D Mlllest Dr F Levack Councillor M Wlnder IRe5igned 28 September 20231 IAppolnted 28 September 20231 IAppointed 28 september 20231 Trustees are recruited by olher tnjstees or the clerk to the trustees, and serve for as long as they feel able to serve the charltv. Trustees brSn8 varylng fleld5 Of expertlse from thelr own busine55 and professlonal experlence, and act In declsion-makln8 and pollcy15sues, as well as havlng overall rPonsIbl11ty for the contlnuatlon and furtherance of the objert5 of the charlty. The day to day mana8ement of the almshouse is conducted by the clerk to the trustees. Mr 01Sver Maxwell-lones. The trustees meet quartedy to manage the runnin8 of the charlty, and make strateBSc and specific detlsion5. The trustees have as5e55ed the malor rfsks to which the chartty15 exposed, and are satlsfled that system5 are In place to mitlgate exposure to the major risks. None of the trustees has had any interest Sn contracts or trdnsa¢tlons of the charlty in the year. Code ot governance The Charity complies with the prlncipal ¢0MmendatiOnS of the 2015 NHF Code of Governance. lue for Money Value for Money is about belng effectSve in how we plan, manage and operate the Charity, it means maklng the best use of the resources available to us to provide quality homes to Improve the quallty of Ilfe of our resSdents. tQ8eiher with hl8h quality services and support. Thè trustees, report was approved by the Board of Trustees. Mrs K Hancox Trustee Dated: 19 September 202S115'.57..19 BST
sln EnwknFe ID.. 27F84CN.7DA54851.gBBWCW1CFBEO BRIGFrfoN & HOVE ALMSHOUSE CHARITY CHARTERED ACCOUNTANTS. REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BRIGHTON & HOVE ALMSHOUSE CHARITY FOR THE YEAR ENDED 31 DECEMBER 2023 We report on the accounts for the year ended 31 December 2023, set out on pages 5 tt) 23. R•spe¢tl¥e f¢spon$lbllbtles of the Board and the reportlng accountsnts The Board of the Reglstered Soclal Housin8 Provider is responsible for the preparation of the accounts, and they consider that the ReEi5tered Soclal Housing Provider is exempt from an audlt. It Is our re5ponslbllity to carry out procedures desl8ned to enable us to report our opinion. Bèsls of oplnlon Our procedures conslsted of comparln8 the accounts wlth the accountlng records kept by the Reglstered Social Housing Provlder and makln8 such enquiries of the offlcer5 of the Re815tered Soclal Housln8 Provlder as we consldered necessary for the purpose of thls report. These procedure5 provlde the only a55urance expreed In our opSnlon. Oplnlon In our oplnlon the accounts for the year ended YI December 2023 are In accordance wlth the accountln8 record5 kept by the Re8istered Social Housln8 Provider under paragraph 1351211al of the Hou51n8 and Re8eneratlon Act 2008: havlnB regard only to, and on the bas15 of the information contslned In the accountlnB records - the account5 comply with the requlrements of the Charltles Act 2011,. the Re8lstered Soclal Housin8 Provlder has satisfled the condltlons for exemption from an audlt of the accounts for year ended 31 December 2023 5peclfled in sectlon 136131 of thè Housln8 and Re8enerdtlon Act 2008; the accounts comply with the requlrements of the Houslng and Regeneratlon Act 2CQ8 and the accountlng direction for private reg1sted provlders of 50clal hou5in8 in England 2019. fvIA4 Price & Companv Chartered Accountants 30-32 Gildredge Road Eastbourne East Sussex 8N2145H
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D¢LtsIGn FnVehjrI0.' 27F84C5¥7DAS4851BD4c9l¢FBED BRIGHTON & HOVE ALMSHOUSE CHARITY STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes Turnover 94.748 102,228 Operatln8 expendlture 1104,2891 172,6051 Operating surplu$/ Idellcltl Inte$t receivable Movement In faSr value of Investments 19,5411 1.645 22,533 29,623 928 116.5521 Total compreh¢nsl¥e In¢om¢ forth¢ y¢ar 14.637 13,999 18th S•pt•mbor 2025 The accounts were approved by the trustees On ................. . . Mrs K Hancox
L$19Th Envelope Q, 27F84C5ts7DA548514BBW¢3E91CFBEO BRIGKfoN & HOVE ALMSHOUSE CHARrrY STATEMENT OF CHANGES IN RESERVES FOR THE YEAR ENDED 31 DECEMBER Z023 Income and End¢)wment Endowment expendlture fvnd lund ¥eTrernl reseThe deslgnated Total At l January 2020 Total comprehensSve Income for the year RevaluatSon in year 145,851 30,551 150,167 112.3351 2,810,012 14,2171 3,106,030 13,999 At 31 December 2022 176,402 137,832 2.805,795 3,120,029 Total comprehensive Income for the year 17,8961 15,634 6,899 14,637 At 31 December 2023 168,506 153,466 2,812,694 3,134,666
CYJcu8 Envelope D. 2TF84c54-7DA851-9bBWc91CF8EO BRIGlffON & HOVE ALMSHOUSE CHARITY BALANCE SHEET AS AT31 DECEMBER 2023 ZOZ3 2022 Notss Flxed assrts Tanglble assets Investment5 12 13 2,725,0 235,722 2,725,C(JO 213,190 2.960,722 2,938.190 Current •ssets Debiors Cash at bank and Sn hand 14 2,236 182,807 3,781 183,975 185,043 187,756 Credltors: amounts falllni due wlthln one ye•r 15 111,0991 15,9171 Net current a55et5 173,944 181,839 Total assets less Current Ilabllltles 3,134,666 3,120,029 Capitsl funds Endowment funds- eneral General endowmerrt fund5 Revaluation reserve 110,504 2.702.190 103,605 2,702,190 16 2,812,694 2,805,795 lficorne fynds Hl8hli8hted fund Vnrestilcted funds 17 153,466 168,506 137,832 176,402 3,134,666 3,120,029 18th Sept9mbar 2025 The financial statements were approved by the Trustees on . 95JAifo3SEeA4EO . Mr5 K Hanco¥ Trustee
Dowan Envolopg ID.. 27F84C5¥7DA54&$1.W4¢W1CF9ED BRIGHTON & HOVE ALMSHOUSE CHARITY BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2023 Crltlcal a¢wuntbng e511fflate5 and Judgernents In the application of the charity's accounting policies. the trustees are reqLtired to make judgements, estlmates and a55umption5 about the carrylng amount of assets and Ilabllltles that are not readllv apparent from other source5. The estlmates and associated assumptions are based on historlcal experlence and other that are considered to be leVant. Actual results may dlffer from these estimates. The estlmates and underlyin8 assumptlons are revlewed on an on8oln8 basls. Rev15ions to accountlng estimates are recognised Sn the period in which the estimate is revised where the rev5slon affects onlv that perlod. or In the perlod of the revision and future periods where the revlslon affects both current and future periods. untlng poll¢les Charlty Informatlon Brlghton & Hove Almshouse Charlty Is a re8iStered housin8 provider. 2.1 At¢ountlng conventlon The accounts have been prepared in accordance wfth UK General Accepted Accountlng Practlce (UK GAAPI Including Financial Reportin8 Standard 102 IFRS 1021 and the Housing SORP 2018: Statement of Recommended Practice for Re8lstered Soclal HousSng Provlder5 and comply wlth the Accountlng Directlon for prbvate gIstered providers of soclal houslng in En8land 2019. The Charlty Is a Publlc Benefit Entity a5 defined by FRS 102. The financlal statements are prepared In sterlin& whlch Is the functional currency of the charlty. Monetary amounts In these financlal statements are rounded to the nearest £. The flnanclal statements have been prepared under the historical cost conventSon, modlfled to include the revaluation of freehold properties and io Snclude investment propertles and certaln financlal Instruments at fair value. The principal accountin8 policies adopted are set out below. 2.2 Golno Concern At the tlme of approving the flnancial statemenls. the tfU5tees have a asonable expectatlon that the Charlty has adequate resources to continue In operational existence for the foreseeable future. Thu5 the trustee5 continue to adopt the going concem basls of accountlng In preparing the flnanclal statements. 2.3 Charltèble fvnds UnStrtted funds are available for use at the discretion of the trustees Sn furtherance of thelr charétable oblecttves. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purpo$es and uses of the restricted funds are set out in the notes to the fTnancial statements.
E>Jwgrb Enveltye ID.. 27F84C54-7DA54851.9BBgD4C3E91CFBED BRIGHTON & HOVE ALMSHOUSE CHARITY NOTES TO THE FINANCIAL 5fATEMEKrs FOR THEYEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Icontlnuedl Endowment lunds are subSect to speclflc condltlons by donors that the capital must be malntalned by the charitv. 2.4 In¢omlng resource5 Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and It is probable that income will be received. Cash donatlons are reco8nised on receipt. Other donatlons are reco8nised once the charlty has been notlfled of the donatSon, unless performance condltlons requlre deferral of the amount. Income tax recoverable In relation to donatlons received under Gift Ald or deeds of covenant Is reco8nised at the tlme of the donatlon. Legacles are ¢0niSed on receipt or otherwise If the charity ha5 been notified of an Impendlng distrlbutlon, the amount Ss known. and recelpt is expetted. If the amount Is not known, the legacy Is treated a5 a contln8ent a55et. 2.5 Resources expended Expendlture is reco8nised once there is a legal or constructlve obligatlon to transfer economlc beneflt to a thlrd party, It Is probable that a transfer of economlc benefits wlll be requlred in settlement, and the amount of the obll8ation can be measured relSably. Expendlture Is ¢lasslfled by actlvlty. The costs of each act]¥ are made up of the total of dlrect costs and shared costs, includln8 SUPPOrt corts Involved in undertaklng each artlvity. Direct cost5 attributable to a 5in8le actlvity are allocated directly to that actlvity. Shared c05t5 which contrlbute to more than one actlvity and support Costs which a not attrlbutable to a 5in8le artivlty are apportioned between those activltle5 on a bas15 con5i5tent with the use of re50urce5. Cenirdl staff costs are allocated on the basls of tlme spent, and depreciatSon char8es are allocated on the portlon of the asset's use. All expendbture Is accounted for on an accruals basls and has been clas5Sfled under headlngs that ag8re8ate all costs related to the category. Where costs cannot be directly attributed to particular headlngs they have been allocated to actlvltles on a basis conslstent wrth use of the re50ur¢es. 2.5 Tan8lble flxed •ss¢ts Tanglble fixed assets are initially measured at cost and subsequently measud at CQ5t or valuation, net of depreciation and ary impairment losses. Tan8lble flxed assets are stated at COSt less depreclation. Depreclatlon Is provlded at rates calculated to write off the c05t le55 estimated residual v71ve of each asset over its expected useful life, as follows.. Soclal houslng properties for lettln8 The gaSn or loss arlslng on the dlsposal of an asset 15 determined as the difference between the sale proceeds and the carryin8 value of the a55et. and 15 recognised in the statement of financlal actlvitles. -io-
OocuskJn Envelope ID.. 27F54C54-7DAW51.9BVX)4C3E91CFBED BRIGHTON & HOVE ALMSHOUSE CHARITY NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THEYEAR ENDED 31 DECEMBER 2023 A¢wuntln8 poll¢le5 Icontlnued) Houslng propertles Housing properties are properties held for the prowsion of social housing or to otherwise provlde social beneflt. Houslng properties are prfnclpally propertles available for rent and are stated at Cost le55 accumulated depreciation and impairment losses. Costs include the cost of acquirln8 land and bulldlngs, development cosis, Interest charges Incurred durln8 the development period. Expenditure on housln8 propertles which results in an enhancement of economlc benefits of the 3sset such as an Increase In the net rental stream over the Ilfe of the propertyls capSts1ised. Expendlture that represents the replacement or restoration of assets that have a separately Sdentlflible life to the property Concerned are also capitalised but under a category separate from the property. Such expendlture Is then depreclated over the expected useful Ilfe of that itern. Any works which do not result in an enhanrnent of economic beneflts of a property are charged to the income and expendlture account. Thls Includes expendlture Incurred to ensure that the propertv can maintain its existing level of net rental income or the standard ol performance anticipated when the asset wa5 first acqulred or constructed or last replaced. Grants related to capital costs are deducted from the cost of the properties Involved, but are shown separately a5 deferred income in creditors. 1.7 Flxed asset Investments Fixed asset investment5 are Initially measured at transaction prlce excludin8 trdnsacilon costs, and are subsequently measured at fair value at each reportin8 date. Chan8es In fair valLse are recogn5sed In net Income/lexpendlturel for the year. Transactlon costs a expensed as incurred, 2.8 Impalmiont ol flxed assets At each reportlng end date, the charity reviews the carryinB amounts of Its tan8lble and Intan8lble assets to determine whether there Is any indication that those assets have suffered an Impalrment loss. 11 any such indication exists, the recoverable amount of the asset is estimated In order to determSne the extent of the impairment10ss lif any). 2.9 Cash and cash equlvalents Cash and cash equivalents include cash In hand. deposit5 held at call with banks, other short-term liquld Investments wlth orl8inal maturfties of three months or less, and bank overdrafts. Bank overdrafts are shown within l)orrowin85 in current liabillties. .ii-
Doculgn Er.¥9pe ITr. 27F84¢70y8sl4BBKtsl¢3E9lCFeED BRIGHTON & HOVE ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS IcoKllNUED} FOR THE YEAR ENDED 31 OECEMBER 2023 Aceounting policies (Continued) 2.10 Flnandal Instruments The charlty has elected to apply the prov151on5 Qf Section 11 'Baslc Flnanclal Instruments. and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial instruments. Flnanclal instruments a reco8nised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial a55et5 and liabilrtie5 are offset, wlth the net amounts presented In the flnan¢lal 5tstements. when there Is a le8ally enforceable ri8ht to set off the recognlsed amounts and there Is an 5ntention to settle on a net basis or to realise the asset and settle the liabllity simultaneou51y. Basic finanrSal assets Basic financial assets, whlch Include debtOTS and cash and bank balances. are Inltlally measured at transactlon prlce including transactlon costs and are subsequently carrled at amortlsed cost Uslng the effertlve intèrest method unless the arrangement constltutes a flnanclng transaction, where the transactlon Is measured at the present value of the hjture recelpt5 dlscounted at a market rate of Interest. Financlal a55et5 cla55ified a5 receivable wlthln one year are not amortlsed. Baslc financSal liabllities Baslc financial liabilitles, includSng creditors and bank loans are Inltlally recognlsed at transactlon prlce unSe55 the arrangement constitutes a financlng transaction, where the debt Instrument Is measured at the psent value of the future payments dbscounted at a market rate of interest. Flnanclal Ilabllltles classlfled as payable wlthln one year are not amortlsed. Debt In5trument5 are subsequently carrled at amortised cost, usln8 the effectlve Interest rate method. Trade credltors are obli8ations to pay for 8oods or servlces that have been acquired In the ordlnary course of operatlorbs from suppllers. Amounts payable are classlfied as current liabllities If payment Is due withln one year or less. If not, they are presented as nQn<urnt liabilities. Trade credltors are recognlsed Inltlally at iransactlon prlce and subsequently measured at amort15ed cost using the effective interest method. Derecognitlon of financial liabilitie5 Flnanci31 liabilities are dereco8nised when the charltws contractual obll8atlons expire or are discharged or cancelled. Z.11 FSnan¢e The accounts have been prepared on the basis that the Charlty's capltal expendlture wlll be funded bv loans or from the Charity's own or other charitable resources. Grants CeiVable towards capltal project5 are treated as stated In the notes above. Z.12 Value Added Tax Irrecoverable VAT which can be attributed to a capltal Item or expenditu Is added to the cost of the capitsl item or expense5 Whe prartlcable and material. 12-
Envek)pe ID.. 27Fe4CSts7DAS14BD4c3E91GFBED BRIGHTON & HOVE ALMSHOUSE CHARrrY NOTE5 TO THE FINANCIAL STATEME15 (coMnNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Income from InStMents Unrestrlcted Unrestrlcted fund$ funds 2023 2022 Income from listed investments Income from unllsted Investments Interest receivable 12 990 643 911 1,645 928 13-
Docuslun E¢wekj It?. 27F84C5¥7DAN8S1BClCFBED BRIGFrroN & HOVE ALMSHOUSE CHARrrY NOTE5 TO THE FINANCIAL STATEMENTS IcoKfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢commodallon owned and In manaiement 2023 Nool properties 2022 Noof propertle5 Sodal housing General housln8'. soclal rent 12 12 Trital owned 12 12 Future planned armMOdItIon In development at the year end Operatlnl surpluslldefl¢ltl Z023 2022 The operatin8 surplusl Ideficitl is arrlved at after charglngl Icreditingl: Accountants MuneratIOn for independent examination -16-
DOCU9 Envebp8 ID.. 27F84CS47DA8Sl.9BBEgICFBED BRIGHTON & HOVE ALMSHOUSE CHARITY NOTES TO THE FINANCIALsfATEMENT5 (conNUED1 FOR THEYEAR ENDED 31 DECEMBER 2023 Admlnlstratlve expenses Ch•rltsb thn••t dmlnl•tr•tlon Total 2022 2025 Mana8ement fees Rates and water Insurance Electricity Gas RepaSrs and malntenance Garden expenses Malntenance and survey report and lftspettlon fees Televislon expenses Le8al and professional fees NatSonal A550clatlon of Almhouses subscrlptlon Sundry expen5e5 Independenl examination fee 9.656 4,831 1,325 952 9.656 4.831 1,325 952 3,099 62,571 4,930 9,324 3.194 1.460 728 3,775 37.985 2,905 62,571 4,930 3,464 23 5,963 293 1,200 2,095 3,464 23 8,945 293 1,200 3,000 1,226 23 7,200 282 1,503 3,0 2,982 905 100,402 3,887 104,289 72,605 100,402 3,887 104,289 72,605 Analysls by lund Unre5trided funds 100,402 3,887 104,289 100,402 3,887 104,289 For the year ended 31 December 2022 Unrestrlcted funds 69.300 3.305 72,605 69.300 3,305 72,605 Trustee5 None of the trustees lor any person5 connerted with them) received any MuneratIon or benefits from Ihe charlty durlng the year. 17-
Lk)w$fgn Er,vdope10.' 27F84CS¥TDA&4851.9BBWC3E91CFBED BRIGHTON & HOVE AIMSHOUSE CHARrrY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Galns and losses on Inveslments Endowmenl Endowment fund5 funds Totsl Endowment Endowment lunds lunds Total 2023 2023 2023 2022 2022 2022 Galnslllo55es1 ar151ng on., Revaluatlon of inve5tmenls 15,634 6,899 22,533 112,3351 14,2171 116.5521 -18-
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Do($&jn Enveh¥e ID., 27F8K7DA$48514BBgWE91CF8ED BRIGHTON & HOVE ALMSHOUSE CHARITY N¢yfES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Employees There were no employees durin8 the year. IZ Trnilble Ilxed assets So¢1 housln8 propertles fgr lettln8 Cost orv4lu•tlon At l January 2023 2,725,OCQ At 31 December 2023 2.725,OL>) Crryln8 amount At 31 December 2023 2,725,OC¥) At 31 December 2022 2,725,000 The Investment properties were valued at £2,725,C#XJ on 15 October 2021 on a falr value basls, subject to the exlstlng tenancles, by Messrs Flude, Chartered Surveyors. and con51der that at the year end the valuation Is reasonably up to date. No depreciation is provlded in respert of these propertles. At 31 December 2023, had the revalued assets been tarrièd at hlstorlt cost less actumulated depreciation and accumulated impairment 105ses. their carryln8 amount would have been approxlmately £22,80912022 - £22,809). The Brighton and Hove Almshouse Charity was ori8lnally created from a number of smaller charlties. InformatSon lating to the acquisltion values of the freehold properties Is not known. Alteratlons and Improvement5 made since the establishment of the combined Charity In 1973 were Cèpitalised as improvements, and the c¢)st of these is the fIgu shown as historlcal cost In the note above. - The tTU5tee5 have now revalued the propertles based on the current market value as a whole. The propertles owned comprlse 12 unTts, all let as a1rn5houses in accordance with the provlslon5 of the Order under which the charity was formed. -20-
PDcusbn Envelaw 27F84C54.7DA548S1.9BBwCt¢FBEO BRIGFrroN & HOVE ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Flxed asset Investments Unllsted Investments Cosl or valuatlan At I lanuary2023 Valuatlon changes 213,190 22,532 At 31 December 2023 235.722 Carryln8 amount At 31 December 2023 235,722 At 310ecembÈr 2022 213,190 14 Debtors 2023 2022 Amourts falllng due wlthln one year: Rent and servlce char8es receivable Prepaymefjts and accfued income 1,228 1,008 1,452 2,329 2,236 3,781 15 CredStors: amourts lallln8 due Mthln one yeai 2023 2022 Rent and servlce chaoes received in advance Accruals and deferred Income 3.719 7,380 1,684 4,233 11,099 S,917 21-
Envek)r¢10'. 27F84cS4-7DABslBW3E91CFBED BRIGHTON & HOVE ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS {copifiNUED) FOR THE YEAR ENDED 310ECEMBER 2023 16 Endowment funds The endowmeni funds of the char(ty include unreali5ed surpluses on the revaluatlon of the fehOld land and bulldings held to fulfil the objectives of the charity. Movement In funds Balance at IrKomln8 Resourtes Translers Revaluatlon 6alan¢e at l J¥nuary mources expended Inslllosse 31 D•cember 2023 2023 Expend•bh endowments Fund Capltal Account 2,805.795 6,899 2,812,694 2,805,795 6,899 2,812,694 Part of the fund balance relate5 lo Ur}all$ed surpluses on the revalyatlon of ihe Investment5 held sn the lund. The amount of the unre3115ed revaluatlon surplus at 31 December 2023 was £2,702,190 12022,. £2,702,190). 17 Endowment fund5. Hl8hll8hted lund These are endowment funds funds which are material to the ¢harity's activitles. At l J•nu•ry 2023 Galns and losses At31 December 2023 137,832 15,634 153.466 Prevlou$ year: At l January 2022 Galns and At31 losses December 2021 150,167 112.3351 137.832 -22-
DrKu8ign Envebw10.. 27F84c547DAH851.98BC3E9lCFBED BRIGHTON & HOVE ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENT5 {copifiNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 18 Oesl8nated funds The unrestricted funds of the charity comprise the unexpended balances of don?tions and grants whlch are not sublett to specific condition5 by donor5 and grantors as to how they may be used. These Include deslgnated funds which have been set aslde out of UnStrIcted funds by the trustees for speciflc purposes. Extraordlnary Repalr and Improvemeni Fund ThSs fvnd Is to provide for Èxtraordinary or irregular property repalrs and future Improvements to the propertles. 19 An•lysls of net assets between lun Unmstrlrted Endowmént Endowment funds fvnds funds 2023 2023 2023 Total 2023 At 31 December 2023: Tanglble assets Investments Current assetsllllabllltlesl 2.725,000 87,694 2,725,000 235,722 173,944 148,028 5.438 168,506 168.506 153.466 2,812.694 3,134,666 Unrertrlrted Endowment Endowment lunds fvnds funds 2022 2022 202Z Total Z022 At 31 December 2022: TanBlble assets Investments Current assetsllllabllltlesl 2,725.000 80.795 2,725,000 213,190 181,839 132,39S 5.437 176.402 176,402 137,832 2,805,795 3.120,029 20 Rel•ted p•rty transactions There were no disclosable lated party transactlons during the year12022 - nonel. 23-