Registered Charity 212296
ALMSHOUSE CHARITIES
TRUSTEE REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
| Contents Report of the Trustees & Statement of Trustees responsibilities Independent Examiner’s Report to the Trustees Receipts and Payments account Statement of Assets and Liabilities |
Page |
|---|---|
| 1 - 4 5 6 7 |
ALMSHOUSE CHARITIES
REPORT OF THE TRUSTEES
The trustees present their annual report and the financial statements of the charity for the year ended 31 December 2020
Reference and Administrative Details of the Charity, it’s Trustees and Advisers Trustees during the Year Mr P R Barlow (Chairman) Mr R A Belsham (dec’d 9[th] September 2020) Mrs P Chapman Mr R Cullum (appointed 3[rd] December 2020) Mrs M E Galione (retired 21st October 2020) Mr P Horner Mr P Latchford (dec’d 16[th] March 2020) Mrs J Money (retired 21[st] October 2020) Mr W Rose (appointed 3[rd] December 2020) Mrs S Wilson
The charity is the consolidation of the following: The charity of Thomas Greene (1491) Bridge Street Almshouses charity (1507) The charity of George Almond (1627) The charity of Catherine Barnardiston for bread (1632) The charity of Catherine Barnardiston for preacher and other purposes (1681) The charity of Charlotte King (1875)
The charity was registered under the Charities Act 1960, charity registration no. 212296.
The policy and general management of the affairs of the charity are directed by the Board of Trustees.
Registered office
The Clerk to the Trustees 27 Acacia Drive Maldon CM9 6AW
2.
ALMSHOUSE CHARITIES
REPORT OF THE TRUSTEES - continued
Independent examiner
Graham Young FCCA
59 Widford Road Chelmsford Essex CM2 8SY
Bankers
Barclays Bank plc Leicester LE87 2BB
Solicitors
Bawtree & Sons 65 Newland Street Witham Essex
1. Structure, Governance and Management
Current Constitution
The charity is unincorporated, governed by a definitive Trust Deed and Rules dated 24 May 1929 and variation 28 November 1968.
The purpose of the charity is to provide and maintain 17 units of accommodation of which 5 are for Almshouse appointees and 12 for other tenants.
Risk Review
The Trustees have continued to conduct their reviews of the major risks to which the charity is exposed and systems have been identified to mitigate those risks. External risks regarding the need to prevent deterioration of property have resulted in the development of a refurbishment plan. Internal risks are minimised by the implementation of financial control and regulation procedures and these are regularly reviewed to ensure they still meet the needs of the charity.
ALMSHOUSE CHARITIES
REPORT OF THE TRUSTEES - continued
Appointment of Trustees
The trust deed provides that there be up to a maximum of 11 Trustees of whom, one shall be the Vicar for the time being, of Witham, five shall be representative trustees appointed by Braintree District Council and five shall be co-opted.
New trustees are provided with an induction pack which is updated from time to time.
Organisation
The Trustees meet on at least a bi-annual basis.
3. Objectives and activities
During the year the charity continued to care for the properties occupied by the alms people and tenants.
Achievements and performance.
During the year, the Trustees’ continued to consider the development of land and the refurbishment of the charity’s freehold properties. They further considered the future status and administration of the Charity and the advantages/disadvantages of conversion to a charitable incorporated organization (CIO).
Those considerations continue as well as registration of the freehold land with the Land Registry.
During the year refurbishments and improvements continued to be carried out in the charities properties. The charity seeks to improve the quality of housing provided to the public benefit.
4. Financial review
The results for the year are set out in the receipts and payments account on page 6 and resulted in a surplus of £ 36,118 (2019 - £28,272) for the year. Work on refurbishing two properties commenced during the year and should be completed in 2021.
Reserves Policy
The Trustees have established a policy whereby the free reserves held by the charity should be a quarter of the annual resources expended. They are currently in excess of this.
REPORT OF THE TRUSTEES -continued
Plans for future periods
The Trustees continue to meet on at least a bi-annual basis and will be reviewing the refurbishment programme and the changes to the status of the scheme.
5. Public Interest
The Trustees follow the guidance given by the Charity Commission regarding the public interest element of activities.
Statement of the Board of Trustees’ Responsibilities
The Charity is entitled under Charities Act 2011 to prepare receipts and payments accounts and a statement of assets and liabilities at the year end. The receipts and payments transactions are summarised in the accounts using natural classifications and not by activity.
The Charity follows guidance from the Charity Commission regarding the format of the receipts and payments accounts which do not claim to show a true and fair view of the Charity’s financial activities and state of affairs. A consistent accounting convention from year to year has been applied.
Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with The Charities (Accounts and Reports) Regulations 2008.
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.
No Trustee received any remuneration/ expenses during the year.
The Board of Trustees confirms that the financial statements comply with the current statutory requirements and the terms of the Charity’s governing Trust Deeds and Rules.
Approved by the Trustees on the 21 September 2021
P R Barlow - Chairman
Independent Examiner’s Report to the Trustees of ALMSHOUSE CHARITIES on the accounts for the year ended 31 December 2020 as set out on pages 6 and 7.
I report to the trustees on my examination of the accounts of the above Charity (“the Trust”) for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe in, any material respect:
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accounting records were not kept in accordance with section 130 of the Act or
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the accounts do not accord with the accounting records ;
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable proper understanding of the accounts to be reached.
Use of my report
My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s members as a body, for my work, for this report, or for the opinions I have formed.
G Young FCCA
59 Widford Road
Chelmsford, Essex CM2 0JD
ALMSHOUSE CHARITIES
| RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 Unrestricted Funds Restricted Funds £ £ RECEIPTS Almhouse housing income Other housing rent and water rates income 6186 63530 - - Rent deposits NAAIF dividend received - 258 - - Bank interest 300 - Income on Charinco shares - 42 _ ________ 70274 42 ======== ======= = PAYMENTS DIRECT CHARITABLE EXPENSES Council tax re vacant property 7935 - Subscription National Assn Alms 282 - Environment and water rates 6708 - Insurance 1968 - General maintenance to properties 4079 - Refurbishment to 50 Church Street 2412 - Utility bills re. Vacant properties 885 - Deposit Protection Society Gardening & tree cutting - 450 - - Sundry 179 - _ _ 24898 - ________ ________ ADMINISTRATIVE EXPENSES Clerk’s fees – for year 4800 - - adhoc fees - - Independent Examiners fees 300 - Architects fees Quinqenial survey 4200 - _ _ 9300 - ________ ________ PAYMENTS FROM RESTRICTED FUNDS Preacher – Barnardiston Charity - - King Educational fund donation - - _ _ __ TOTAL PAYMENTS 34198 - ======= ======= == EXCESS OF RECEIPTS OVER PAYMENTS 36076 42 BANK BALANCES AT 1/1/2020 BANK BALANCES AT 31/12/2020 |
DECEMBER 2020 Total Year Ended 31. 12. 2019 £ 6186 63530 6186 60655 - 258 - 258 300 628 42 30 __ __ 70316 67757 ===== ======= 7935 8599 282 133 6708 7370 1968 1897 4079 6110 2412 8598 885 265 - 450 - 1360 179 53 _ _ 24898 34385 _ _ 4800 4800 - - 300 300 4200 - _ _ 9300 5100 _ _ - - _ _____ 34198 39485 ===== ======= 36118 28272 301794 273522 337912 301794 |
DECEMBER 2020 Total Year Ended 31. 12. 2019 £ 6186 63530 6186 60655 - 258 - 258 300 628 42 30 __ __ 70316 67757 ===== ======= 7935 8599 282 133 6708 7370 1968 1897 4079 6110 2412 8598 885 265 - 450 - 1360 179 53 _ _ 24898 34385 _ _ 4800 4800 - - 300 300 4200 - _ _ 9300 5100 _ _ - - _ _____ 34198 39485 ===== ======= 36118 28272 301794 273522 337912 301794 |
|---|---|---|
| 301794 |
ALMSHOUSE CHARITIES
STATEMENT OF ASSETS AND LIABILITIES AT 31 DECEMBER 2020
Restricted Funds
| Barnardiston | King | ||
|---|---|---|---|
| General | Preacher | Educational | |
| Fund | Fund | Fund | |
| MONETARY ASSETS | £ | £ | £ |
| Cash balances | |||
| Bank current account | 127223 | - | - |
| Bank Business Saver Deposit Account | 210689 | - | - |
| _ | ___ | ___ | |
| Total cash at bank at 31 December 2020 | 337912 | - | - |
| _ | ___ | ___ | |
| Investments | |||
| BlackRock Charities UK Bond Fund | |||
| Recoopment Account - Accumulation | £17871 | ||
| Extraordinary Repair Fund - Accumulation | £2140 | ||
| Kings Educational Foundation - Income | £310 | ||
| Barnardiston for Preacher and | |||
| other purposes - Income | £681 | ||
| 03 -Income shares | £2115 | ||
| _ | ___ | ____ | |
| Market value at 31 December 2020 | £22126 | £681 | £310 |
| _ | ______ | ___ | |
| M&G Charity Multi Asset Fund | |||
| 7,385 income shares | |||
| Market value at 31 December 2020 | £6175 | - | - |
| ___ | ___ | ___ | |
| Debtors | |||
| Net rent & water rate arrears at 31/12/20 | £900 | - | - |
| Prepaid Water/Sewerage to 31/3/21 | £1692 | - | - |
| Charinco income from Blackrock | £279 | - | - |
| ====== | |||
| Other Assets | |||
| Tangible Fixed Assets – Freehold land and buildings | |||
| 24 – 40c Church Street Witham | |||
| 50a – 52 Church Street | |||
| 22, 23, 24 Chalks Road | __ | ||
| Valuation 1/1/1993 | £785,000 | - | - |
| __ | |||
| LIABILITIES | |||
| Independent Examiners fees | £650 | - | - |
| Clerk’s adhoc fees | £1770 | ||
| ===== | ======== | ======= |
These financial statements were approved by the Trustees on the 16 September 2021 and signed on their behalf by:
P R Barlow – Chairman 16 September 2021