2022-03-31-accounts - William Henry Harlock And Ethel Harlock Almshouse Charity In The Parish Of Old Leake

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WILLIAM HENRY AND ETHEL HARLOCK'S OLD LEAKE ALMSHOUSE CHARITY, OLD LEAKE, BOSTON, LINCOLNSHIRE

Registered Charity No 213771

Trustees Report and Accounts For the Year Ended 31st March 2022

Registered Charity Number: 213771

Correspondence Address: Mrs C Allen (Clerk) Redstock Cottage Hampton Lane Old Leake Boston Lincolnshire PE22 9JS Bankers: Barclays Bank Plc 52 Market Place Boston Lincolnshire PE21 6LU Independent Examiner: Mrs N Lenton FCCA Dexter & Sharpe The Old Vicarage Church Close Boston Lincolnshire PE21 6NA

WILLIAM HENRY AND ETHEL HARLOCK'S OLD LEAKE ALMSHOUSE CHARITY, OLD LEAKE, BOSTON, LINCOLNSHIRE

Registered Charity No 213771

ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2022

Objectives of the Charity

The William Henry and Ethel Harlock's Old Leake Almshouse Charity is constituted by a Deed dated 10 January 1958 and is a registered charity (no 213771). The charity was formed to provide either generally or individually, housing and support to almspeople who live in the parish of Old Leake in the Borough of Boston. Six almshouse bungalows are provided for housing.

Activities during the year have been to continue to collect sufficient funds through maintenance contributions to run and maintain the properties and to continue to invest the capital to provide for running costs and administration from the interest earned.

Small gifts are given to the almspeople at Christmas.

Financial position and reserves

During the year the charity expended £4,310 (2021 - £4,144) on its aims.

Incoming resources totalled £28,282 (2021 - £27,780). The surplus in cash reserves was £20,614 (2021 – £20,638).

At the year end cash reserves at bank and on deposit totalled £29,940 (2021 - £19,496). Also NAACIF accumulation shares valued at £217,444 (2021 - £195,956) were held as provision for any extraordinary repairs and refurbishment. The charity also holds further investments totalling £167,957 (2021 - £151,886) as general reserves. These reserves are considered sufficient to provide for the needs of the charity over the foreseeable future, i.e. three years.

Trustees

The trustees for the year were:

Mr A Howsam Mr J A Allen Mrs J Hampstead Mr J Gresham Councillor D Norton Mrs J Limb

The Charity is administered by the trustees and their clerk. There are two representative trustees. One to be selected from St Mary’s Church Old Leake and one to be selected from the Parish Council of Old Leake and shall serve for four years; there are three co-opted trustees appointed for a term of five years by the existing trustees at a formal meeting.

All decisions are made by majority vote at Trustees' Meetings though, in the interests of the Charity, unanimity is sought.

New trustees are briefed by the clerk on the functions of the charity but no specific training is imparted, as ordinary judgement is pre-requisite.

Future plans

The trustees plan to continue their activities in the manner heretofore conducted. In particular to maintain to a high standard the properties, which are occupied by beneficiaries of the charity.

WILLIAM HENRY AND ETHEL HARLOCK'S OLD LEAKE ALMSHOUSE CHARITY, OLD LEAKE, BOSTON, LINCOLNSHIRE

Registered Charity No 213771

ANNUAL REPORT OF THE TRUSTEES CONT FOR THE YEAR ENDED 31ST MARCH 2022

Statement of trustees responsibilities

Charity law requires the trustees to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the charity and its financial activities for that period. In preparing those financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operational existence.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. 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.

Independent Examiner

The Trustees intend to ask the existing examiner to undertake the independent examination of the Charity in the following year.

For and on behalf of the Trustees:

J A ALLEN

A HOWSAM

Date:

WILLIAM HENRY AND ETHEL HARLOCK'S OLD LEAKE ALMSHOUSE CHARITY, OLD LEAKE, BOSTON, LINCOLNSHIRE

Registered Charity No 213771

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE WILLIAM HENRY AND ETHEL HARLOCK’S OLD LEAKE ALMSHOUSE CHARITY

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 March 2022, which are set out on pages 5 to 9.

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.

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 that in, any material respect:

accounting records were not kept in accordance with section 130 of the Act or
the accounts do not accord with such records
the accounts did 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 accounts to be reached.

MRS N LENTON FCCA Independent Examiner Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA

Date:

WILLIAM HENRY AND ETHEL HARLOCK'S OLD LEAKE ALMSHOUSE CHARITY, OLD LEAKE, BOSTON, LINCOLNSHIRE

Registered Charity No 213771

Income and Expenditure Account for the year ended 31st March 2022

Maintenance Contributions No.1 2 3 4 5 6 Investment Income Business Premium Account Dividend Income Other Income 60thAnniversary Photos Realised gains/(losses) on sale of investment Total Receipts Direct Charitable Expenditure Electric Bungalow Refurbishment Costs Ground Maintenance Insurance NAA Subscription 60thAnniversary Photos Gifts Other Costs Professional Fees IFA Charges Clerk’s Salary Postage Advertising Accountancy Fees Hall Hire Rotary Mower Total Expenditure Net (deficit)/surplus for year c/fwd	£ £ General Designated 3,130 3,068 3,130 3,068 3,130 2,540 - 18,066 2 10,179 10,181 - 45 - __(10) ____- 10,216 18,066 47 1,650 781 1,041 187 405 199 4,310 - 234 - 1,836 24 58 570 16 620_____ 3,358 - 7,668 - 2,548 18,066	£ £ General Designated 3,130 3,068 3,130 3,068 3,130 2,540 - 18,066 2 10,179 10,181 - 45 - __(10) ____- 10,216 18,066 47 1,650 781 1,041 187 405 199 4,310 - 234 - 1,836 24 58 570 16 620_____ 3,358 - 7,668 - 2,548 18,066	2022 £ £ Total 2,907 2,966 2,907 2,909 2,907 2,681 18,066 17,277 4 10,527 10,181 10,531 45 - (10) (28) 28,282 82 1,079 1,669 1,002 182 - 130 4,310 4,144 234 525 1,654 15 - 570 - - 3,358 2,998 7,668 20,614	2021 £ Total 17,277 10,531 - (28) 27,780 4,144 2,998 7,142 20,638

WILLIAM HENRY AND ETHEL HARLOCK'S OLD LEAKE ALMSHOUSE CHARITY, OLD LEAKE, BOSTON, LINCOLNSHIRE

Registered Charity No 213771

Income and Expenditure Account for the year ended 31st March 2022 Contd…

Net surplus for the year b/fwd Unrealised gains on investments Reserves brought forward Reserves carried forward	£ £ General Designated 2,548 18,066 12,525 14,864 118,580 248,758 133,653 281,688	2022 £ £ Total 20,614 27,389 367,338 415,341	2021 £ Total 20,638 57,229 289,471 367,338

WILLIAM HENRY AND ETHEL HARLOCK'S OLD LEAKE ALMSHOUSE CHARITY, OLD LEAKE, BOSTON, LINCOLNSHIRE

Registered Charity No 213771

Note 1 2 3 4	Balance Sheet as at 31st March 2022 2022 £ FIXED ASSETS Tangible Fixed Assets- Almshouses 1,030,000 Investments M & G Accumulation Shares 217,444 195,956 M & G Accumulation Shares (2) 52,516 47,327 Investec FTSE 100 3 Yr Deposit Plane 34,313 34,323 BNY Mellon Accumulation Shares 81,128 70,236 385,401 347,842 385,401 1,415,401 CURRENT ASSETS Current Account 8,615 6,283 Deposit Account 21,325 13,213 29,940 NET ASSETS 1,445,341 FUNDS: Permanent Endowment Fund 1,030,000 Unrestricted Fund - General 133,653 118,580 - Designated 281,688 248,758 415,341 1,445,341	2021 £ 985,000 347,842
		1,332,842 19,496
		1,352,338
		985,000 367,338
		1,352,338

WILLIAM HENRY AND ETHEL HARLOCK'S OLD LEAKE ALMSHOUSE CHARITY, OLD LEAKE, BOSTON, LINCOLNSHIRE

Registered Charity No 213771

Notes to the Statements Continued for the Year Ended 31st March 2022

1 TANGIBLE FIXED ASSETS - ALMSHOUSES

The Charity owns 6 almshouses, being 3 pairs of semi-detached bungalows situated on 1.04 acres of land at Church End Old Leake.

The Trustees have completed an annual assessment of these almshouses as required by FRS102 and consider that the value has changed sufficiently in the period to warrant an increase in the valuation contained within the accounts.

2 INVESTMENTS

	2042.185	493.223	30767.671	34475
	M & G	M & G	BNY Mellon	Investec
Accumulation		Accumulation	Accumulation	FTSE 100 3 Yr
	Shares	Shares		Deposit Plan
	£	£	£	£
Valuation at 1stApril 2021	195,956	47,327	70,236	34,323
Additions at Cost	6,624	1,599	1,957	-
Realised Losses	-	-	-	(10)
Unrealised Gains	14,864	3,590	8,935	-
Valuation at 31stMarch 2022	217,444	52,516	81,128	34,313

Valuation at 1stApril 2021 Additions at Cost Disposal Realised Losses Unrealised Gains Valuation at 31stMarch 2022	2022 £ 347,842 10,180 - (10) 27,389 385,401	2021 £ 280,639 45,002 (35,000) (28) 57,229 347.842

The Charity holds 2042.185 M & G Accumulation Shares which are designated as extraordinary repairs fund.

WILLIAM HENRY AND ETHEL HARLOCK'S OLD LEAKE ALMSHOUSE CHARITY, OLD LEAKE, BOSTON, LINCOLNSHIRE

Registered Charity No 213771

Notes to the Statements Continued for the Year Ended 31st March 2022

3 PERMANENT ENDOWMENT FUNDS

Balance at 1stApril 2021 Increase in Trustees’ Valuation Balance at 31stMarch 2022	2022 £ 985,000 45,000 1,030,000	2021 £ 961,068 23,932 985,000

The trustees have valued the land and houses at £1,030,000 as at the 31[st] March 2022.

The permanent endowment fund represents the asset of the almshouses which are on land purchased, and built, using funds endowed for such purpose by William Henry Harlock and Ethel Harlock in their Wills.

4 UNRESTRICTED FUND

Balance at 1stApril 2021 Net surplus for the year Unrealised gains and (losses) on Investments Transfer between funds Balance at 31stMarch 2022	2022 General Designated £ £ 118,580 248,758 2,548 18,066 12,525 14,864 - - 133,653 281,688	2021 General Designated £ £ 94,426 195,045 3,361 17,277 20,793 36,436 - - 118,580 248,758	2021 General Designated £ £ 94,426 195,045 3,361 17,277 20,793 36,436 - - 118,580 248,758

			248,758