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MRS GELL’S ALMSHOUSES —ICKENHAM
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-. - FINANCIALSTATEMENTS
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pe + 31 DECEMBER 20 2 . i , [CHARITY COMMISSION | renae |. | FIRST CONTACT fk IY GSSBe fF 3 OCT 2 fo 9,0 SG Pees on > ( . oe a 7 an 2: SS ; “ ae . LL RECEIVED <aREO Poors
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... MRS GELU’S ALMSHOUSES — ICKENHAM os FINANCIAL STATEMENTS — | | ; FOR THE YEAR ENDED 31 DECEMBER 2022 a
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. INDEX a | Page . _ oe . ) . 4 ; _- Report of the Trustees 5 - Report of the Independent Examiner . 6 ee oS . Income and Expenditure Account | - ce 7 a Balance Sheet | . 8-11 Notes to the Financial Statements
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ee MRS GELL’S ALMSHOUSES — ICKENHAM oe ' REPORT OF THETRUSTEES = Oe a The Trustees present their réport and the financial statements for the year SO : - ended 31 December 2022. eo | . a CONSTITUTION AND OBJECTS _ : Oe ; Mrs Gell’s Almshouses Charity was establishedin 1857 under the will of the . — late Charlotte Gell of ickenham for the benefit of elderly almspeople of the charity being Church members and is registered with the Charity Commission | ' under charity number 213205. . | | | PRINCIPAL ACTIVITY po Be So The Charity’s principal activity during the year continued to be the a _ | administration and management of the Almshouses at 22A-26D Swakeleys - Road, Ickenham, Middlesex, UB10 8BG. : oO, - BENEFITS © , co : oe ' _ + The Trustees have reviewed the Charity Commission guidance onthe == , . "requirement to report benefits and are satisfied that the work of the Charity is oe in.accordance with its objectives and provides tangible benefits tothe — : . _ occupants of the Almshouses. : Ss _ ORGANISATION oO | oo , ~The names of those who serve as trustees are set out at the front of these oo | ; a _ accounts, They comprise the Rector and the churchwardens of St. Giles church’ | | oe Ickenham, together with two nominative trustees appointed. by the Parochial — | . ~ Church Council. Revd. Felicity Davies was appointed.Rector on 3 September ce , S204. 7 o oO. REVIEW OF ACTIVITIES : So , / Other than routine maintenance and upkeep, the front paths were fully =. ) . refurbished and replacement front gates were fitted. , oo,
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ss RESERVESPOLICY ,
RESERVESPOLICY , - oe | . It is the policy of the trustees to maintain appropriate reserves being guided by numbers published by the Almshouse Association. - ; 7
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] : RISK MANAGEMENT | oe . The trustees review the risks which the Charity faces on a regular basis and | confirm that steps are then taken to mitigate any significant risks. . oO
TRUSTEES RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
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Charity legislation requires trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity at the end of the financial year and of the surplus or deficit for that period. In preparing the financial statements, suitable accounting policies have —— Oe been adopted and consistently applied, to the best of the trustees’ knowledge ~ _ and belief, by reference to reasonable and prudent judgements and estimates. Applicable accounting standards have been followed. The trustees are _ vo responsible for maintaining adequate accounting records,for safeguarding the . . _ + assets of the Charity and for detecting and preventing fraud and other _. irregularities. The trustees are also required to indicate where the financial — i “statements are prepared other than on the basis that the Charity is a going . oo . . concern. . . . ; os INDEPENDENT EXAMINATION . . Under the provisions of the Charities Act 2011, an independent examination of the Charities Act 2011, an independent examination the Charities Act 2011, an independent examination Charities Act 2011, an independent examination Act 2011, an independent examination an independent examination independent examination examination :
Under the provisions of the Charities Act 2011, an independent examination of the Charities Act 2011, an independent examination the Charities Act 2011, an independent examination Charities Act 2011, an independent examination Act 2011, an independent examination an independent examination independent examination examination has been carried out this year. this year. year. SO, So
has been carried out this year. this year. year. SO, So ° ; By Order of the Trustees . . . B.Baxter . ) . Clerk . . - - 31% July, 2023 | oo 7 oo
_ REPORT OF THE INDEPENDENT EXAMINER ; -| . the| have year examined ended 31 theDecember books and 2022records of and confirmMrs Gell’sthat Almshouses- the financial statementsIckenham foras . | _ Set out on pages 6-11 hereunder are in accordance therewith. i h i Cher Fiona Chandramohan ) a 7 . Independent Examiner ~ 26 July, 2023 Se oo
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oo MRS GELU’S ALMSHOUSES — ICKENHAM
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|INCOME AND|EXPENDITURE ACCOUNT|
|,|Oo|FOR THE YEAR ENDED 31 DECEMBER 20220|oo|
|oe|.|,|£||2022£|£|2021£|.|||
||TURNOVER|FROM|LETTINGS|||
|Maintenance|||
|Contributions|19,772|©|19,915|..|
|a|Heating Contributions|.||6,212|.|5,805|©|
|Losses from|Voids|-|(2,635)|a|
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|||||25,984|23,085|a|
|:|OPERATING COSTS|:|;|Be|
|:|Services-|Heating /Lighting|.|5,242.|4,181|
|7|Services-|Water|.|1,303|6,545|827|5,008|
|Council|Tax|-|Lo|.|oe|:|1,151||
|-|Insurance|.|1,566|1,458|:|
|‘Helpline Services|.|.|164|7|81|°|
||Subscriptions/DonationsPostage/Stationery/Cleaning||oo|.|88537.|.|455370|.|7|
|Sundry|Expenses|187|—|198|
|‘RepairsDepreciationand|Maintenance—|||)|36,0432,335|.||43,332es|es|:|
|oe|.|a|47,759|51,720|—|
|.|OPERATING(DEFICIT)/SURPLUS||7|(21,775)BO|(28,635)|7|
|Surplus onsaleof|;|;|oo|~|||68,806|a|:|
|.|investments|,|.|Sn|Oo|
|.|,|incomeDividend|(Noteand|interest 4)|'|oe477|(AAAS.|||Oo|||.|
|(DEFICIT/SURPLUS FOR|THE|oo|(21,298)|40,615|.|.|
|Ancluded|in the the|repairs and maintenance and maintenance maintenance|costs|of £36,043 ‘were costs £36,043 ‘were costs ‘were costs costs|of|.|
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Ancluded in the the repairs and maintenance and maintenance maintenance costs of £36,043 ‘were costs £36,043 ‘were costs ‘were costs costs of £15,000 for the replacement of front pathways. 7 a oo - gg ; | Co, |
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MRS GELL’S ALMSHOUSES — ICKENHAM
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|||oo|BALANCE SHEET|||||
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|-|AS AT 31 DECEMBER 2022.|.|||
|aa|’|FIXED|ASSETS|~|.|2022|.|2021|
|||£|fg|£||
|Housing|Property|at Cost|-|.|.|150,281|150,281|—|
|:|-less|Housing Assoc.|Grant|(132,521)|'|(132,521).|-|
|Capitalisation:|Windows|©|=|31,112|17,760|31,112—|17,760ce©|||
|.|oe|——|Kitchens/Bathrooms|21,011|52,123.|23,346|54,458|a|
||(Note|6)|69,883|72,218|
|CURRENT ASSETS|re|||ae|
|Debtors|(Note|7)|.|716|"680|,|
|.|||,|Cash.atInvestmentsbank andinhand.(Note|8)||.|-390,0788,216|—|.|387,49327,367|.|.|
|oo|7|SO|||-|399,010|415,540|
|-,|Less:|.|.|.|-|
|Creditors-amounts|falling due|.|(1,000)|.|.|(1,145)|
|">|>.|withinone year|(Note9)|||||!|
|NET CURRENT ASSETS|398,010|-|414,395.|.|
|.|TOTAL ASSETS|LESS CURRENT|ot|467,893|||486,613|
|:|LIABILITIES|||oe|||||
|oo|Creditors-|amounts|falling due|6,525|6,525|.|:|||
|after more than|one year|oe|oO|
|/|sd|RESERVES|||.|me|
|,|~|Investment|Revaluation|Reserve|342,752|-|340,174|-|
|Designated|Reserves|-|139,914.|-|99,299|:|
|-|Income|and Expenditure|(21,298)|118,616|40,615|139,914|
|-|Account|(Note|10)|-|,|.|,|
|:|7|||467,893|©|-|486613|
|The financial|statements on pages 6 to|11 were approved|by the Trusteeson--|:|
|31% july,|2023 and|signed|on their behalf by:|||ee|-|
|PARAL.|.|F. Davies|Trustee|
|||.|B.|Baxter|‘Clerk|;|
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|;|¢!|i.2|E. lee|—|Treasurer|| a|
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MRS GELL’S ALMSHOUSES — ICKENHAM NOTES TO THE FINANCIAL STATEMENTS =—
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FOR THE YEAR ENDED 31 DECEMBER 2022
1. ESTABLISHMENT
oe Mrs Gell’s Almshouses Charity'was established in 1857 under the will of ) the late Charlotte Gell of Ickenham and is administered under a scheme _ '°, 2. approved‘TheapplicablePRINCIPLE financialby ACCOUNTINGAccounting thestatementsCharityStandardsCommissioners.havePOLICIESbeenin theprepared— | UnitedinKingdom. accordance. — AsummaryBOwith. of. > ~ ) the more important policies is set out below: Oo ' . a) Basis of Accounting The financial statements are prepared on the[historical][cost][basis] except for the investments which are stated at current market value. - - b) Turnover : oo ~ Turnover comprises maintenanceand heating contributions receivable in ; respect of housing accommodation comprising eight bed-sit dwellings . oO and one flat occupied by the trustees’ representative. _ . , o, | ¢) Housing Property 7 - Mrs Gell’s Almshouses were constructed in 1857 and since there is no record of the original cost, no value is attributed thereto. The Housing oe property cost relates to improvements carried out in 1982 which were funded by a Housing Association Grant (£132,521), amortgage loan — . | . (£13,143) from the Housing Corporation secured on the freehold : a building and from Mrs Gell’s Almshouses own resources (£4,617). As the | 7 _. residualproperties valueare maintainedis not less thanin a theirstate improvementof repair suchcostthat ortheir carryingestimated ) . ~ amount, there is no annual charge for depreciation. The Housing = Association Grant, paid bythe Housing Corporation, is shown as a deduction from the Housing Property cost on the balance sheet as| it . a 7 _ . Thed)reducedCyclicalreservetheRepairssetscost ofasideand the amountsMaintenancedevelopment. to carryReserve out periodic) _cyclical repairs to . - a the Housing Property — a :
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5 TAXATION— Mrs Gell’s
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" ___ MIRS GELL’S ALMSHOUSES - ICKENHAM | 7 | NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) | FOR THE YEAR ENDED 31 DECEMBER 2022. oe , ; Thee) Extraordinaryreserve sets aside Repairs amounts Reserve to carry out major repairs7 to theBe Housing. . | Property. | So : _ : . a f) Investment Revaluation Reserve Oe 7 - , The reserve represents the unrealised excess of| market value of the - investments over original cost. - . _
3. OFFICERS AND SENIOR EXECUTIVES EMOLUMENTS
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TheTrustees are defined as[the][officers][and][senior][executives.][No] "remuneration or expenses were paid to the Trustees (2021: NIL)
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| 4, INTERESTRECEIVABLEAND-OTHER | AND-OTHERINCOME | INCOME | _ | , | So | ||||
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| oe | ~ | 2022 | 20200 | ||||||
| Investmentincome | . | 7 | - | ||||||
| Dividend income | — | 470: | -. | 444 | . | ||||
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| TAXATION-- 7 |
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| Mrs Gell’sAlmshouses | isa registered charityand isthereforeexempt | exempt | |||||||
| "fromtaxation on its incomeandcapital gains: | oo | ) | : | ||||||
| 6.FIXEDASSETS | an | 7 |
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|FIXEDASSETS|||an|an||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Freehold PropertyCost lessHousingAssociation||Association|Grant|—|||||||| |At 1°January 2022 and 31%December 2022.||||-|£17,760||||||| |Capitalisation ofnewwindows||si|||£31,112||CO||||,| |Capitalisation ofreplacement kitchens||||||oe|||||| |and bathrooms|—||.||£23,346|||||_||| |Depreciation of|kitchensand bathrooms||||(£ 2,335)||||||| ||||||£69,883|-|||||| |||||||||||||| |||||)|||||||| |||a||||||||||| ||oe|||||||||.||
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||||oo|MRSGELUSALMSHOUSES—ICKENHAM ©|MRSGELUSALMSHOUSES—ICKENHAM ©|MRSGELUSALMSHOUSES—ICKENHAM ©|MRSGELUSALMSHOUSES—ICKENHAM ©|MRSGELUSALMSHOUSES—ICKENHAM ©|||||,||
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|.|||"NOTESTOTHEFINANCIALSTATEMENTS (CONTINUED)|||||||||||
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FOR THE YEARENDED31||31DECEMBER|DECEMBER2022||||oO|||:|
|7|||||||Co!||2022||20210—~Ci“(it:«*:S|||||
||||)||||£||£|||||
||||7.|DEBTORS||;|||‘|.||||
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||||.|Amounts fallingdue within one year:|||||-|||||
||||.|Prepaidinsurance ||||716||680|||:||
|a|||8.|INVESTMENTS
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|||||7|M&G Investments|||389,397|.|386,819|a||||
|||||DepositAccount||a|681|©|674|©||7||
|||||Marketvaluesat31%December.|||390,078||387,493|.||||
||.||9.|CREDITORS -
:||Oo||.|,|/||||
|.|||.|Amounts fallingduewithinoneyear:|||BO,|oS|.|.||||
|||||_Accrued gasand electricitycosts|||. 1,000||1,145|||||
|.||||Amountsfallingdue afteroneyear:||||||||-||
||||.|Summerhouse donations||-|6,525|-|6,525|.||||
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| , | MRS GELL’SALMSHOUSES—ICKENHAM | MRS GELL’SALMSHOUSES—ICKENHAM | MRS GELL’SALMSHOUSES—ICKENHAM | MRS GELL’SALMSHOUSES—ICKENHAM | MRS GELL’SALMSHOUSES—ICKENHAM | MRS GELL’SALMSHOUSES—ICKENHAM | MRS GELL’SALMSHOUSES—ICKENHAM | MRS GELL’SALMSHOUSES—ICKENHAM | Oo | Oo | ||||||||||
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| NOTESTOTHEFINANCIALSTATEMENTS(CONTINUED) | oO | |||||||||||||||||||
| . | _ FOR THE YEARENDED31DECEMBER2022. |
2022. | ||||||||||||||||||
| 10.DESIGNATED | RESERVES | a | ||||||||||||||||||
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Total | Extraordinary | _ | Cyclical | Income and | . | ||||||||||||||
| ae | : ae |
: | OS | - | , | Repairs Reserve |
Repairand Maintenance |
Expenditure Reserve |
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| _..: | . | +> | Reserve | oO | ||||||||||||||||
| Balancesat31._ | —-:139,914 | 47,151 | 23,957 | 68,806 | ||||||||||||||||
| December2021 | : | a | . | |||||||||||||||||
| : | "Adjustments in 2022. |
_ | 46,206 | 22,600 : |
(68,806) | |||||||||||||||
| . | CO | ' | . 139,914 | 93,357 | 46,557 | 7 | - | . | ||||||||||||
| - | _Deficitin 2022 | ° | (21,298) | (15,000) | (6,298) | on | . | |||||||||||||
| ' | transferredto | mo | . | ; | ||||||||||||||||
| . | . | ‘Reserves | / | Oe | ||||||||||||||||
| Balance at31 | 118,616 | 78,357. | (40,259 | - | } | |||||||||||||||
| a | a | December2022 | _ | oy | me, | . |
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The charge to Cyclical Repairs Reserve relates to the replacement cost of the __ front pathways. _
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11.COMMITMENTS
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At the balance sheet date there were no contingent liabilities or other » financial commitments, either contracted for, or authorisedby the trustees but not contracted for. (2021: NIL) ,
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