HARLEY'S ALMSHOUSES FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2020 HARLEY'S ALMSHOUSES INDEX TO THE FINANCIAL STATEMENTS for the year ending 31 December 2020 Page Trustees Report Independent Examiners Report Receipls and Payments Account Balance Sheet Notes to the Financial Statements HARLEY'S ALMSHOUSES TRUSTEES, REPORT for the year endillg 31 Deeember 20211 STRUCTURE, GOVERNANCE AND MANAGEMENT Flarley's Almshous¢s is a charitable trust constituted by endowments. made by Miss Frdnces Harley in 1832 and 1836 and regulated by a Charity Commission Scheme approved on IT July 1972 and subsequently Amcnded on I l February 1976 and 5 July 1979. TRUSTEES Truste￿. Mr Michael Rylands Dr Peter Ford Mr Clive Keylock- r¢signed 25 F"ebnwy 2020 Mrs Carol Jones Rev Richard Williams Mrs Pat Hope Mrs Deborah Davi¢s- resigncd 28 September 2020 Mrs June Pugh Mrs Jackie tiriffiths- appointed 28 SeplemEtr 2020 Principal offiee: 3 Belmont Road Hay-on-Wy¢ Hereford HR3 5DA AceouDtsnts WJJames&Co CharÉ¢red Accountants Bishop Housc l O Wheat Street Bre¢on Powys Bankers Natwest Bank PLC 27 Th¢ High Street B￿on Charity Dumber 213729 OWECTS OF CHARITY The Charity's purpose is to provide accommodation for poor women, not less than sixty years of age, who have p￿vioUSlY resided for at least three years in Hay on Wye or the surmunding district. The Charity provides and maintains in a g(M)d state of repair and decoration of the Almshouse accommodation for a maximum of thirteen women, funded by the residents, weekly maintenance contributions and by invest¢d funds. The Charity achieves its principal objects and pury)ose5 through the continued support of the Almshouses. These benefits are directly related to the Charity's aims and are fully compliant with Charity Commission guidan¢¢. ACTIVITIES AND ACHtEVElItENTS The Tmstees continued to provid¢ and mainiain acL'ommodation for residents during the reporting period. Thc yw way nutsble for a coronavirus epid¢mi¢. Owing to statutory restrictions, only the AGM and two Trnstee¢ m¢¢tin&8 were hcld. Trusiees communicated tEmotely wh¢n necessary. HARLEY'S ALMSHOUSES TRUSTEES, REPORT (contillued} for the year endillg 31 December 2020 PUBLTC BENE￿T In planning the Chariti¢s activities for the 2020 year we kept in mind the Charity Commission's guid#n¢¢ on public benefit at our regular trust¢cs' meetings (executii'e committee)- TRUSTEE POLICY Harley's Almshouses structhre allows for up to eight Trustees. They are Lssist¢d in the day lo day management of the Charity by a Clerk. Routinely, not less than a minimum of five fornial Tn￿tee meetings are held each year, one of which is an AGM. Additional meetings are held as n￿eSsary. Potenlial Trustees, with the exccption of an ¢x officio Trustee apwintsd by The Church in Wale4 are identified through ￿¢0MmendatIon by existin8 Trustees inviled to apply. New Trnstees are appointed following discussi(In of th¢ applications at meetings of Trustees and by the mAjority vote of all Trustees. Th¢ Charity has a COMp￿hensiVe Trnstee Induction policy which includes a tour of the Almshous¢s in the company of the Chair. or another Trustee, and the Clerk. STATEMENT OF TRUSTEES. RESPONSIBILrrTES The trnst¢es are responsible for preparin8 the Trustee5' Report and th¢ financial slatements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prnclice)- The law applicable lo charities in England and Wales requires the trustees to prepatr financial statcments for each financial ycar which give a true and fair view of the state of affairs of th¢ charity and of the incoming resources and application of resources of the charity for ihat period. In preparing these financial 8tatem¢nty thc trustees are ￿qUired to: Sel￿t suitable accounting w)licies and apply them consistently. observ¢ the methods and principles in the Charities SORP 2019. make judgements and estimat¢s that are reasonable and prudent. st&te whether applicable accounting stAndards have been followed, subject to any material departures discloscd and explained in the financial ststements. prepare the financial statements on the going concern basis unless it is inappropriat¢ to prcsum¢ that the charty will continue in operation. The trustees are responsible for keeping accounting r¢cord$ that disclose with reasonable accuracy at any time the financial position of the charity and ¢nabl¢ them to ensure that the financial statements comply with th¢ Charities Act 201 I, the Charity (Accounts Reports) Regulations 2008 and the provisions of the trust deed. They are also rcsponsible for safeguarding the Lgsets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on hehalf of tbe Trustees HARLEYS ALMSHOUSES INDEPENDENT EXAMINERS REPORT to the Tru5tecs of Harley's Almshouses I report to th¢ Charity trustees on my examination of the a¢counts of the charity for the year ended 31 December 2020 which are set out on pages 4 and 5. R￿ponSIbIlitieS fdad basis of report As the charity's trustees you are reswjnsible for the p￿ParatIon of the accounts in ￿OrdanCe with the requirements of the Charities Aci 2011 {'the Act,). I report in re5￿t of my examination of the ch&rity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable directi(Ins given by the Charity Commission under section 145(5Xb) of the Act. Independent eumiller's statement I have completed my examination. I confirn) that no material matters have come to my attention in connect&on with the examination giving me cause to believe that in any m8t¢rial respxct.. accounting r¢¢ords wcre Dol k¢pt in respect of the charity as required by s¢ction 130 of the ACL or the accounts do not accord with those records. or 3. the ac¢ounts do not compty with the &ppli¢able requirements concerning the forni and content of the accounts sel out in the Charili¢s (Accounts and Reports) Regulations 2008 other than any requiremenl that the accounts give a 'true and view. which is not a matter considered as port of an inde￿ndent 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 retK>rt in order to enable a proper understanding of the Accounts to be reached. rs K R Saund¢t3-Jones Bs WJJam¢s&Co Chartcred Accountant 10 Wheat Street BreKon FCA Date.. HARLEY'S ALMSHOUSES RECEIEryS AYJ D PAYMENTS ACCOUNT for the year ending 31 December 2020 Unrestricted Funds 31 Dec 2020 Tothl Note INCOME Rent receiiiable Interest receivable 29,566 804 29,565 804 TOTAL INCOMF. 30J7 30J70 EXPENDITURE Water Gas InsurnT]ce Alami system Repairs and maintenance Accountancy fees Licences 2.551 5,989 1.454 1.132 7.601 660 30 2.551 5.989 1.454 1,132 7.601 660 30 TOTAL EXPENDITURE 19.417 19,417 Gains/(loss) in investments (3.724) (3.724) NET MOVEMENT IN FUNDS 7229 7229 Recon¢iiiatioD of funds: Total fund balances brought forward at l January 2020 105,416 105,416 Total fund balances carri¢d forward at 31 r)eccmber 2020 112,645 112,645 HARLEY'S ALMSHOUSES BALANCE SHEET as at 31 December 2020 2020 Note FIXED ASSETS Investments 85.321) CURRENT ASSETS Bank a￿Ounts 27.985 27,985 CREDITORS: Amounts falling due within one year 1660) NET CURRENT ASSETS 27.325 112.645 FUNDS Unrestricted funds 112,645 a5Vh.J¥.Fk& loa * Approved by the Trustees on ........... and signed on their behalf by IIARLEY'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENrs for the year eDded 31 D￿ember 2020 I. INVESTMENTS 2020 M&G Charity Multi Asset 85.320 85.320 Movement in fixed 2$set inve$tmtnts 2020 Market value brought forward Net gain/(loss) on r¢valuation 89.044 (3,724) 85,320 All investments are carried at their market value. Asset sales and pu￿has¢S are recognized at the date of trade at their transaction value. 2. CASH BALANCES 2020 Natwest Bank NS & l - Colin Hill Memorial Fund NS & [- Cyclical Maintenance Fund 23,218 ,955 2,812 27,985 3. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2020 Accrued cxpenses 660 HARLEY'S ALMSHOUSES NOTES TO THE FINANCJAL STATEMENfs (Continued) for the year ended 31 Detember 2020 FUNDS BAlanee brought forward asat IJAn 2020 Balance ¢arried forward asat Investment 31 Dec gainsl(lo¢fj) 2020 Recelpts Payments Gcneral fund 1.605 Cyclical Maintenance Fund 2.812 Memorial Fund 1,955 Extraordinary Repair Trund 89.044 30.370 19.417 22,558 2,812 1.955 (3.724) 85,320 105,416 30,370 19,417 (3.724) 112.645 5.TRUSTEES' REMUIYERATION AND EXPENSES No remuneration directly or indirectly out of the funds of the charity was paid or payable to any trustee OT to any person OT persons known to b¢ connected with any of them. 6. RELATED PARTY TRANSACTIONS There were no related party transactions in the year that require disclosure in these financial slatem¢nts.