## ## ## ## ## |Charity registration|Charity registration|Charity registration|number:|212320|||| |---|---|---|---|---|---|---|---| |Principal|address:|||The Estate Office|||| |||||Petwoith|||| |||||West Sussex|||| |||||GU28 ODU|||| |Solicitors:||||Farrer k, Co|||| |||||66Lincoln's|Inn Fields||| |||||London|||| |||||WC2A 3LH|||| |Independent||Examiner||MrJA Burnett ACA|||| |||||Martin and Company||Chartered|Accountants| |||||25 StThomas|Street||| |||||Winchester|||| |||||Hampshire|||| |||||SO23 9HJ|||| |Bankers:||||National
Westminster||Bank pk|| |||||5East Street|||| |||||Chichester|||| |||||West Sussex|||| |||||PO19 IHH|||| |Managing|Agents:|||Savills|||| |||||The Estate Office|||| |||||Petworth|||| |||||West Sussex|||| |||||GU28 ODU|||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||Notes|Unrestricted|Unrestmcted|Unrestmcted|Endowment|Total|Total| |---|---|---|---|---|---|---|---|---| ||||Funds|Funds||Fuads|2021|2020| ||||(Iocome)|(Designated)||||| ||||8|||||| |INCOME FROM:||||||||| |Charitable
activities|||50,431||||50,431|51,908| |Investments|||3,963||691||4,654|4,981| |TOTAL INCOME|||54,394||691|0|55,085|56,889| |EXPENDITURE ON:||||||||| |Charitable
activities||4|54,538||||54,538|34,407| |TOTAL EXPENDITURE|||54,538|||0|54,538|34,407| |NET INCOME|||(144)|691||0|547|22,482| |(Losses)/gains
on investments||10|8,082|3,487||8,210|19,779|(13,729)| |Transfer between
funds|||||||0|0| |NET MOVEMENT|IN FUNDS||7,938|4,|178|8,210|20,326|8,753| |RECONCILIATION|OF FUNDS|||||||| |Fund balances brought forward|||442,695|56,402||157,606|656,703|647,950| |FUND BALANCES|CARRIED FORWARD||450,633|60.580||165,8lii|677,029|656,703| ## ## |||Netes|2021||2020|| |---|---|---|---|---|---|---| ||||8||8|| |FIXEDASSETS||||||| |Tangible fixed assets||||||| |Freehold property|||428,529||428,529|| |Equipment|||10,479||0|| |||||439,008||428,529| |Investments||||135,620||112,182| |||||574,628||540,711| |Investment
property||10||44,000||44,000| |CURRENT ASSETS||||||| |Debtors and pcepayments|||3,903||3,611|| |Cash at bank|||68,263||80,615|| ||||72,166||84,226|| |CREDITORS: amounts
falling due||||||| |within one year||||||| |Creditors
and accruals|||13,765||12,234|| |||||58,401||71,992| |TOTAL ASSETSLESS|LIABILITIES|||677,029||656,703| |ENDOWMENT
FUNDS||||165,816||157,606| |UNRESTRICTED FUNDS||||||| |Income Fund||||450,633||442,695| |Designated
Funds:||||||| |-Extraordinary
Repair Fund|||21,222||17,049|| |-Cyclical Maintenance|Fund||39,358||39,353|| |||||60,580||56,402| |||||677,029||656,703| |The financial
statements|were approved|by the Trustees and|signed on their behalfby:|||| |Loni Egrem
1|||PA JerromeMBE|||| |Chairman||||||| ## ## |STATUTORY INFORMATION|||||||| |---|---|---|---|---|---|---|---| |Northchapel
Petworth
and Tillington
Almshouses
Chanty
is acharity registered|in England|and Wales. The charity's|||registers||number| |and registered oifice address can be found in the Trustees' Report.|||||||| |ACCOUNTING
POLICIES|||||||| |Accounting
convention|||||||| |The financial
statements ofthe charity, which is a public benefit entity, have been prepared||in accordance|with|the Statement||of|| |Recommended
Practice. Accounting
and Reporting
by Charities
pmpsring
their|accounts
in|accordance with the Financial Reporting|||||| |Standard
applicable
in the UK and Republic ofireland (FRS102)issued
in October 2019and the Financial|||Reporting||Standard||| |applicable
in the UK and Republic ofIreland (FRS102)and the Charities Act 2011and UK||Generally
Accepted Accounting||||Practice as it|| |applies fmm la January 2019.The financial
statements
have been prepared
under the historical cost convention,||||as modified||by|the| |revaluation
ofinvestments.|||||||| |The financial
statements
have been prepared
to give a 'true and Stir' view snd have departed||Sum the Charities||(Accounts and Reports)|||| |Regulations
2008 only tothe extent required
to provide a 'true and fair' view. This departure||has involved|following||Accounting||and| |Reporting
by Charities
preparing
their accounts
in accordance with the Financial|Repomng|Standard
applicable||in the UK and Republic|||| |ofIreland (FRS102)issued
in October 2019rather than the Accounting
and Reporting
by Charities:
Statement ofRecommended|||||||practice| |effective from ln April 2005 which has since been withdrawn.|||||||| |The trustees consider that there are no material
uncertainties
about the Charity's|ability to continue
as a going concern.||||||| |Income|||||||| |All income is recognised once the charity
has entitlement
to the income, it is probable
that the income will|||be received and can||||be reliably| |measured.|||||||| |Rental income is included
in the period that it is due, net ofany irrecoverable
amounts.
Any||rents charged|in advance||are deferred||| |Bank interest is included
when receivable.|||||||| |Dividends
are recognised
when the dividend
has been declared
and notification|has been received ofthe amount due.||||||| |Expeaditure|||||||| |All liabilities are recognised
as soon as there is a legal or constructive
obligation|committing|the charity to|that|expenditure||and|itis| |probable that the payment
will be required
and can be reliably measured.|||||||| |All expenditure
is accounted
for on an accruals basis and includes
irrecoverable|VAT as the charity
is not||registered||for VAT.||| |Charitable
expenses include the costs involved
in the running
and maintenance|ofthe properties.||||||| |Support costs include those costs associated
with the constitutional
and statutory|requirements
ofthe charity.||||||| |Taagible fixed assets|||||||| |Fixed assets whose original cost was more than 8350have been capitalised
and|depreciated|over the following||periods;|||| |Fixtures and equipment
-25%on a reducing
balance basis|||||||| ## ## |2.|ACCOUNTIlqG
POLICIKS (CONTINUED)|||||||| |---|---|---|---|---|---|---|---|---| ||Freehold property|||||||| ||The almshouses
are historic buildings
and as well as being the functional
pmperties ofthe charity (being used to provide reduced|||||cost||| ||accommodation
with the charitable
deed)
are also classed as historical
buildings
and hence heritage||assets. Due to the uniqueness||||ofthe|| ||buildings
a valuation
in respect ofthe original
properties
is very difficult to|attribute
and as such the|original
values ofthe assets|||have||| ||been excluded from the balance sheet on the basis that reliable cost information
is not available
and conventional
valuation||||appmaches|||| ||lack sufficient reliability.|||||||| ||The value ofthe buildings
included
in the accounts represents
improvements|undertaken
to the buildings
since (7u September 1979.||||||Since| ||these costs are significantly
lower than the buildings'
likely value, and as the buildings
are kept in good repair, the Trustees||||believe||that it is|| ||not appropriate
to depreciate
the properties.|||||||| ||Fixed asset investments|||||||| ||Investments
are valued at mid-market
value at the balance sheet date.
Any|gains and losses are shown as movement||in the|Statement|||of| ||Financial
Activities.|||||||| ||Investment
properly|||||||| ||Investment
properties
for which fair value can be measured
reliably without|undue cost or effort are|measured
at fair|value|at each|||| ||reporting
date with changes
in fair value recognised
in net gains/losses
on investments
in the Statement ofFinancial|||Activities.||||| ||Debtors|||||||| ||Trade debtors are recorded at their settlement
amount.
Prepayments
are valued at the prepaid
amount||at the Balance|Sheet|date.|||| ||Cash atSank and In Head|||||||| ||Cash at bank and in hand includes cash and short term highly
liquid investments
with short maturity||ofthree months|or less from||the date||| ||ofacquisition
or opening ofthe deposit or similar account.|||||||| ||Creditors|||||||| ||Trade creditors
and other creditors are recognised
when the charity has a present obligation
resulting||from past events and can be|||||| ||measured
or estimated
reliably.
Creditors are recognised
at their settlement|amounts.||||||| ||Taxation|||||||| ||The charity is exempt from tax on its charitable activities.|||||||| ||Funds|||||||| ||Unrestricted
funds are funds that can be used in accordance with the charitable
objects at the discretion ofthe trustees.|||||||| ||Designated
funds are those funds that the trustees
have set aside for cyclical|maintenance
and extra-ordinary
repairs.||||||| ||Endowment
funds are those funds which are to be held ss capital in the form ofinvestment
property||and investments|and cannot||be spent.||| ||The income generated
from the investments
is to be used for the charitable|purpose
but has no restriction
on its use.||||||| ## ## |O THE FINANCIAL STAT|O THE FINANCIAL STAT|O THE FINANCIAL STAT|O THE FINANCIAL STAT|EMENTS F|OR THE YE|AR ENDED 3|0TH SEPTEMBE|R2021|| |---|---|---|---|---|---|---|---|---|---| |INVESTMENT INCOME|||||||||| ||||||Unrestricted|Unrestricted|Endowment|Total|Total| ||||||funds|funds|funds|2021|2020| ||||||(income)|(designated)|||| ||||||8|0|||| |Dividends|||||3,519|686||4305|4,375| |Interest|||||0|5||5|162| ||||||3,519|691|0|4,210|4,537| |Rent|||||444||0|444|444| |Total|||||3,963|691|0|4,654|4,981| |All investment||income|in 2021 was unrestricted||||||| |COST OF CHARITABLE ACTIVITIES|||||||||| ||||||Direct|Support|Total||Total| ||||||Costs|costs|2021||2020| ||||||(see note 5)|(see aote 6)|||| |||||||0|||| ||||||46,170|8,368|54,538||| |DIRECT COSTS|||||||||| |||||Uarestricted|Unrestricted|Endowment|Total||Total| |||||Funds|Funds|Fuads|2021||2020| |||||(Income)|(Designated)||||| |Repairs and|msinensnce|||18,783|||18,783||2,976| |Depreciation||ofequipment||3,492|||3,492||0| |Management||fees||3,200|||3,200||3,099| |Warden's &gardener's|||salaries|5,278|||5,278||4,000| |Council tax|and water rates|||2,744|||2,744||3,384| |Electricity||||2,617|||2,617||3,053| |Gas||||6,241|||6,241||6,758| |Insurance||||2,595|||2,595||2,614| |Garden maintenance||||1,220|||1,220||1,540| |||||46,170|0|0|46,170||27,424| |SUPPORT|COSTS|||Unrestricted|Uarestricted|Endowment|Total||Total| |||||Fuads|Fuads|Funds|2021||2020| |||||(Income)|(Designated)
f||8||0| |Administration||charge||3,120|||3,120||3,060| |Telephone||||143|||143||149| |Sundries||||3,373|||3,373||2,045| |Almshouses|Association|||182|||182||179| |||||6,818|||6,818||5,433| |G~vc@stLce|costs||||||||| |Independent|examiners||fee|1,550|||1,550||1,550| |||||8,368|0|0|8,368||6,983| ## ## ## |EMPLOYEES|||||| |---|---|---|---|---|---| ||Uarestrlcted|Unrestricted|Endowment|Total|Total| ||Funds|Fuads|Funds|2021|2020| ||(Iacome)|(Designated)|||| |Wages tk Salaries|4,797|||4,797|3,521| |Nationallnsurance|285|||285|265| |Pension Costs|196|||196|214| ||5,278|||5,278|4,000| ## |||Freehold|Equipment|Total|Total| |---|---|---|---|---|---| |||property||2021|2020| |||8|8||8| |Cost as at|1/10/2020|428,529|11,737|440,266|440,266| |Additions|during year.|0|13,971|13,971|0| |Cost as at|30/9/2021|428,529|25,708|454,237|440,266| |Depreciation
as at 1/10/2020|||11,737|11,737|11,737| |Depreciation
Charge for the Year|||3,492|3,492|0| |Net book|value at 30/9/2021|428,529|10,479|439,008|428,529| |Net book|value at 30/9/2020|428,529|||428,529| ## ## ## |INVESTMENTS|INVESTMENTS|||||||2021|2020| |---|---|---|---|---|---|---|---|---|---| ||||||||||0| |Canying
value|(market value)|at I October 2020||||||112,182|121,950| |Add: Additions|to investments|at cost and income|||reinvested|||3,659|3,960| |Less'.Disposals|at carrying
value|||||||0|0| |Add/(less):
Net|gain/loss
on revaluation|||||||19,779|(13,728)| |Carrying
value|(market value)|at 30|September 2021|||||135,620|| |Comprising;|||||||||| |The BLKCharities
UK Equity||Fund|accumulation||shares|||17,606|16,943| |The BLKCharkies
UK Equity||Fund|income shares|||||18,123|14,973| |The MdkG Charity Multi-Asset||Fund Income||shares||||520|436| |The MEG Charity Multi-Asset||Fund Accumulation||||shares||99,371|79,830| |||||||||135,620|112,182| |INVESTMENT PROPERTIES|||||||||| |||||||||2021|2020| |Common Field,|Pulborough|||||||442)00|| |Common Field,|Pulborough,
comprising 4.411acres|||||ofpasture|land was revalued|by the Managing
Agents,|Seville Chartered| |Surveyors, at the date oftransition.|||The valuation||was carried||out by Simon Knight and undertaken
in accordance with RICS||| |Statements ofAsset Valuations||and|Guidance|Notes.||The trustees considered the||value at 30th September|2021 to be the same.| |DEBTORS||||||||2021|2020| |||||||||0|| |Rent receivable||||||||0|0| |Prepayments||||||||3,903|3,611| |||||||||3,903|3,611| |CREDITORS:|amounts
falling due within|||one|year|||2021|2020| ||||||||||0| |Trade creditors||||||||3,407|3,052| |Rent received/billed
in advance||||||||402|647| |Other creditom|and accruals|||||||9,956|8,535| |||||||||13,765|12,234| ## ## ## |MOVEMENT IN FUNDS|MOVEMENT IN FUNDS||Net|Transfers|Transfers|| |---|---|---|---|---|---|---| |||At 1.10.20|movement|||At 30.9.21| ||||E|||| |Restricted funds||||||| |Endowment
fund||157,606|8,210|||165,816| |Unrestricted
funds||||||| |income fund||442,695|7,938|||450,633| |DtglggtgctIJlmh||||||| |- Extraordinary
repair|fund|17,049|4,173|||21,222| |-Cyclical maintenance|fund|39,353|5|||39,358| |||499,097|12,116|||511,213| |Total funds||656,703|20,326||0|677,029| ||||Incomiag|Resources||Movement| ||||resources|expended||in funds| |Restricted funds||||||| |Endowment
fund|||8,210.00||0.00|8,210.00| |Unrestricted
funds||||||| |Income fund|||62,476.00|54,53800||7,938.00| |UiR0mntndgunds||||||| |-Extraordinary
repair|fund||4,173.00|||4,173.00| |-Cyclical maintenance|fund||5.00|||5.00| ||||66,654.00|54,538.00||12,116.00| |Total funds|||74,864.00|54,538.00||20,326.00| |ANALYSIS OF NKT ASSETSBETWEEN FUNDS||||||| ||Taagible|Investment|Investments|Current|assets/|Total| ||fixed assets|property||liabilities||| |||8|8|||| |Restricted funds||||||| |Endowment
fund|67,041|44,000|54,775|||165,816| |Unrestricted
funds||||||| |Income fund|371,967||59,623||19,043|450,633| |Qaslgntggd3ltnds||||||| |- Extraordinary
repair|fund||21,222|||21,222| |-Cyclical maintenance|fund||0||39,358|39,358| |Totalfunds|439,008|44,000|135,620||58,401|677,029|