**Charity registration number 212951** ## **RICHARD WHITAKER'S ALMSHOUSES** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024** ## **RICHARD WHITAKER'S ALMSHOUSES** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Charity Trustees**|Mr R M Barker| |---|---| ||Mr S P Wilkinson - Chairman| ||Mrs J Bonham| ||Ms S E Smith| ||Mr S Brown| |**Charity number**|212951| |**Principal address**|Woodcock Haworth and Nuttall| ||West View| ||Princess Street| ||Haslingden, Rossendale| ||BB4 6NW| |**Independent examiner**|Bramble Accounting Solutions Limited| ||Fern Court Business Centre| ||Castlegate| ||Clitheroe| ||BB7 1AZ| |**Solicitors**|Woodcock Haworth and Nuttall| ||West View| ||Princess Street| ||Haslingden, Rossendale| ||BB4 6NW| ## **RICHARD WHITAKER'S ALMSHOUSES** ## **CONTENTS** ||**Page**| |---|---| |Trustees report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the financial statements|6 - 11| ## **RICHARD WHITAKER'S ALMSHOUSES** ## **TRUSTEES REPORT FOR THE YEAR ENDED 5 APRIL 2024** The charity trustees present their annual report and financial statements for the year ended 5 April 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). ## **Objectives and activities** The objects of the charity are to provide rented accommodation to poor persons who were born in, or are inhabitants of, the Borough of Rossendale and to benefit the residents in the Almshouses of the charity. The Trustees confirm that the charity has continued to provide accommodation for residents in conformity with the provisions of the governing document. The trustees have reviewed the outcomes and achievements of the charity’s activities for the year to ensure that they remain focussed on the charitable aims and continue to deliver benefits to the public. ## _Public benefit_ The charity trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Achievements and performance** ## _Significant activities and achievements against objectives_ The charity has continued to provide housing in Rossendale and is continuing to explore opportunities to invest in further property. ## **Financial review** Details of income and expenditure during the year, and the balance sheet at 5 April 2024, are set out on pages 4 and 5. The charity has generated a surplus of income over expenditure for the year of £15,499 (2023 - deficit of £23,679), including a revaluation gain on investments of £1,133 (2023 - loss of £43,261). The net funds of the charity have increased from £703,291 to £718,790. There have been no material policy changes during the year. ## _Going concern_ The trustees have reviewed the charity's ability to manage its reserves and consider that the charity's future activities will generate cash flows sufficient to allow the charity to meet its liabilities as they fall due. For this reason the trustees have continued to adopt the going concern basis in preparing the financial statements. ## _Reserves policy_ During the year the trustees reviewed its reserves and after assessing the potential threats and risks agreed that its policy should be to maintain sufficient income reserves to ensure the continued avoidance of net current liabilities and to provide sufficient liquid resources to meet both revenue and capital needs. The trustees monitor the position on a regular basis. The charity has maintained a reserve for major repairs or maintenance unforeseen by the trustees at the year-end amounting to £16,000 (2023 - £16,000). ## **Structure, governance and management** ## **Governing document** The 'Richard Whittaker's Almshouses' charity was established by will, proved with codicil on 9 November 1906 administered under the Charity Commissioners' scheme dated 6 September 1983 and the Housing Act 1996. The charity is administered by the trustees listed on page 2. It is a housing association and is registered with the Housing Corporation under the Housing Act 1974, as amended by the Housing Act 1996. - 1 - ## **RICHARD WHITAKER'S ALMSHOUSES** ## **TRUSTEES REPORT (CONTINUED)** ## **FOR THE YEAR ENDED 5 APRIL 2023** The charity trustees who served during the year and up to the date of signature of the financial statements were: Mr R M Barker Mr S P Wilkinson - Chairman Mrs J Bonham Ms S E Smith Mr S Brown ## _Recruitment and appointment of trustees_ The co-optative trustees are appointed for a term of five years after which they become eligible for re-election. The nominative trustee is appointed by Rossendale Borough Council for a term of four years after which they become eligible for re-election. The ex-officio trustee, when appointed as a trustee, is the Mayor of Rossendale and normally serves for a period of one year. There is no ex-officio trustee currently in office. The Trustees report was approved by the Board of Charity Trustees. .............................. Mr S P Wilkinson - Chairman 22 October 2024 - 2 - ## **RICHARD WHITAKER'S ALMSHOUSES** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE CHARITY TRUSTEES OF RICHARD WHITAKER'S ALMSHOUSES** I report to the charity trustees on my examination of the financial statements of Richard Whitaker's Almshouses (the charity) for the year ended 5 April 2024. ## **Responsibilities and basis of report** As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. DJ Allsebrook BSc ACA ## **Bramble Accounting Solutions Limited** Fern Court Business Centre Castlegate Clitheroe BB7 1AZ 22 October 2024 - 3 - ## **RICHARD WHITAKER'S ALMSHOUSES** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## **FOR THE YEAR ENDED 5 APRIL 2024** |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2024**|**2023**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Charitable activities|**2**|**36,960**|34,737| |Investments|**3**|**18,487**|17,595| |**Total income**||**55,447**|52,332| |Expenditure from charitable activities|**4**|**(41,081)**|(32,750)| |Net gains/(losses) on investments|**8**|**1,133**|(43,261)| |**Net income/(expenditure) and movement in funds**||**15,499**|(23,679)| |**Reconciliation of funds:**|||| |Fund balances at 6 April 2023||**703,291**|726.970| |**Fund balances at 5 April 2024**||**718,790**|703,291| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 4 - ## **RICHARD WHITAKER'S ALMSHOUSES** ## **BALANCE SHEET** ## **AS AT 5 APRIL 2024** |**Notes**
**Fixed assets**
Tangible assets
**10**
Investments
**11**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
Net current assets
**Total assets less current liabilities**
**The funds of the charity**
Unrestricted funds|**2024**
**£**
**857**
**141,304**
**142,161**
**5,098**|**£**
**20,903**
**560,824**
**581,727**
**137,063**
**718,790**
**718,790**
**718,790**|**2023**
**£**
3,791
129,064
132,855
10,158|**£**
20,903
559,691| |---|---|---|---|---| |||||580,594
122,697| |||||703,291| |||||703,291| |||||703,291| The financial statements were approved by the charity trustees on 22 October 2024. .............................. Mr S P Wilkinson - Chairman **Trustee** - 5 - ## **RICHARD WHITAKER'S ALMSHOUSES** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024** ## **1 Accounting policies** ## **Charity information** Richard Whitaker's Almshouses is a charitable trust. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the charity trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the charity trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the charity trustees in furtherance of their charitable objectives. Designated funds are earmarked formally by the trustees for a particular purpose and can be formally undesignated and be returned to the general fund. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## **1.4 Income** 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. Rental income from the charity's housing properties is recognised on an accruals basis. Income from investments is recognised when receivable. ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. - 6 - ## **RICHARD WHITAKER'S ALMSHOUSES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## **FOR THE YEAR ENDED 5 APRIL 2024** ## **1 Accounting policies** **(Continued)** ## **1.6 Tangible fixed assets** Land and buildings are stated at cost, less the housing association grant. Cost includes development expenditure and interest charged on loans raised to finance the scheme. The freehold land is not depreciated. The properties have been fully depreciated. Housing Association Grant ("HAG") received in earlier years is shown as a deduction from the cost of housing properties on the balance sheet. HAG is repayable under certain circumstances, primarily following the sale of a property, but any repayment will normally be restricted to net proceeds of sale. Assets that are not depreciated are subject to annual impairment reviews. ## **1.7 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/ (expenditure) for the year. Transaction costs are expensed as incurred. ## **1.8 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.9 Taxation** The charity is exempt from tax on its charitable activities. ## **2 Income from charitable activities** |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2024**|**2023**| |||**£**|**£**| ||**Accommodation provision**||| ||Charitable rental income|**36,960**|34,737| |**3**|**Income from investments**||| |||**Unrestricted**|**Unrestricted**| |||**funds**|**funds**| |||**2024**|**2023**| |||**£**|**£**| ||Income from listed investments|**18,487**|17,595| - 7 - ## **RICHARD WHITAKER'S ALMSHOUSES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## **FOR THE YEAR ENDED 5 APRIL 2024** ## **4 Expenditure on charitable activities** ||**Charitable**|**Charitable**| |---|---|---| ||**activities**|**activities**| ||**2024**|**2023**| ||**£**|**£**| |**Direct costs**||| |Sundry expenses|**527**|219| |Insurance|**1,344**|1,272| |Light and heat|**259**|622| |Telephone|**(15)**|641| |Repairs|**25,076**|15,125| |Council tax|**-**|563| ||**27,191**|18,442| |**Share of support and governance costs (see note 5)**||| |Governance|**13,890**|14,308| ||**41,081**|32,750| |**Analysis by fund**||| |Unrestricted funds|**41,081**|32,750| |**Support costs allocated to activities**||| ||**Charitable**|**Charitable**| ||**activities**|**activities**| ||**2024**|**2023**| ||**£**|**£**| |Governance|**13,890**|14,308| ||**2024**|**2023**| |**Governance costs comprise:**|**£**|**£**| |Legal and professional|**10,800**|11,050| |Independent examiner's report|**2,220**|2,508| |Dealer fees|**870**|750| ||**13,890**|14,308| ## **5 Support costs allocated to activities** ## **6 Charity Trustees** None of the charity trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. - 8 - ## **RICHARD WHITAKER'S ALMSHOUSES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024** ## **7 Employees** The average monthly number of employees during the year was: ||**2024**|**2023**| |---|---|---| ||**Number**|**Number**| |Total|**-**|-| |Staff costs were nil and therefore no employees received employee benefits of more than £60,000.||| |**Gains and losses on investments**||| ||**Unrestricted** **Unrestricted**|| ||**funds**|**funds**| ||**2024**|**2023**| |Gains/(losses) arising on:|**£**|**£**| |Revaluation of investments|**1,133**|(43,261)| ## **8 Gains and losses on investments** ## **9 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **10 Tangible fixed assets** |**Tangible fixed assets**|| |---|---| ||**Freehold land**| ||**and buildings**| ||**£**| |**Cost**|| |At 6 April 2023|**20,903**| |At 5 April 2024|**20,903**| |**Carrying amount**|| |At 5 April 2024|**20,903**| |At 5 April 2023|20,903| The charity's Almshouses were originally constructed many years ago. There is no record of their cost. The above details relate to improvements carried out since 1983 which cost £201,377. These were funded by a Housing Corporation grant of £180,474, giving a net cost of £20,903. This has been taken as the value of land on which the houses are built and as such is not depreciated. - 9 - ## **RICHARD WHITAKER'S ALMSHOUSES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## **FOR THE YEAR ENDED 5 APRIL 2024** ## **11 Fixed asset investments** |**Cost or valuation**
At 6 April 2023
Valuation changes
At 5 April 2024
**Carrying amount**
At 05 April 2024
At 05 April 2023
**12**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**13**
**Creditors: amounts falling due within one year**
Other creditors
Accruals and deferred income|**Listed**
**investments**
**£**
**559,691**
**1,133**
**560,824**
**560,824**
559,691
**2024**
**2023**
**£**
**£**
**589**
3,536
**268**
255
**857**
3,791
**2024**
**2023**
**£**
**£**
**430**
5,400
**4,668**
4,758
**5,098**
10,158| |---|---| ## **14 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. ||**At 6 April**|**Incoming**|**Resources**|**Gains and**|**At 5 April**| |---|---|---|---|---|---| ||**2023**|**resources**|**expended**|**losses**|**2024**| ||**£**|**£**|**£**|**£**|**£**| |General funds|**703,291**|**55,447**|**(41,081)**|**1,133**|**718,790**| - 10 - ## **RICHARD WHITAKER'S ALMSHOUSES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## **FOR THE YEAR ENDED 5 APRIL 2024** |**14**|**Unrestricted funds**|||||**(Continued)**| |---|---|---|---|---|---|---| ||**Previous year:**|**At 6 April**|**Incoming**|**Resources**|**Gains and**|**At 5 April**| |||**2022**|**resources**|**expended**|**losses**|**2023**| |||**£**|**£**|**£**|**£**|**£**| ||General funds|726,970|52.332|(32,750)|(43,261)|703,291| The charity has maintained a designated fund within general funds for major repairs or maintenance unforeseen by the trustees at the year-end amounting to £16,000 (2023 - £16,000). ## **15 Related party transactions** There were no disclosable related party transactions during the year (2023 - none). - 11 -