2023-03-31-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 2023

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 2023

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 £3,689 (2022 - £4,310) on its aims.

Incoming resources totalled £31,558 (2022 - £28,282). The surplus in cash reserves was £25,050 (2022 – £20,614).

At the year end cash reserves at bank and on deposit totalled £32,645 (2022 - £29,940). Also NAACIF accumulation shares valued at £230,133 (2022 - £217,444) were held as provision for any extraordinary repairs and refurbishment. The charity also holds further investments totalling £174,106 (2022 - £167,957) 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 Mr D Norton Mrs J Limb Councillor J Crouch (appointed 16 November 2022)

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 2023

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 2023, 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 2023

----- Start of picture text -----
2023 2022
£ £ £ £ £
General Designated Total Total
Maintenance Contributions
No.1 3,224 3,130
2 2,976 3,068
3 3,224 3,130
4 3,286 3,068
5 3,224 3,130
6 3,224 2,540
- 19,158 19,158 18,066 18,066
Investment Income
Business Premium Account 55 2
Dividend Income 12,345 10,179
12,400 - 12,400 10,181 10,181
Other Income
60 [th] Anniversary Photos - - - - 45
Realised gains/(losses)
on sale of investment __ - - - (10) (10)
Total Receipts 12,400 19,158 31,558 28,282
Direct Charitable Expenditure
Electric 9 47
Bungalow Refurbishment Costs 1,895 1,650
Ground Maintenance 180 781
Insurance 1,109 1,041
NAA Subscription 196 187
60 [th] Anniversary Photos - 405
Gifts 300 199
3,689 - 3,689 4,310 4,310
Other Costs
Professional Fees 243 234
Clerk’s Salary 1,910 1,836
Postage 10 24
Advertising 10 58
Accountancy Fees 606 570
Hall Hire 40 16
Rotary Mower - _____ 620
2,819 - 2,819 3,358 3,358
Total Expenditure 6,508 - 6,508 7,668
Net surplus for
year c/fwd 5,892 19,158 25,050 20,614
----- End of picture text -----

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 2023 Contd…

Net surplus for the year b/fwd Unrealised gains/(losses) on investments Reserves brought forward Reserves carried forward	£ £ General Designated 5,892 19,158 1,822 (5,329) 133,653 281,688 141,367 295,517	2023 £ £ Total 25,050 (3,507) 415,341 436,884	2022 £ Total 20,614 27,389 367,338 415,341

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

Registered Charity No 213771

----- Start of picture text -----
Balance Sheet as at 31st March 2023
2023 2022
Note £ £
FIXED ASSETS
1 Tangible Fixed Assets - Almshouses 1,125,275 1,030,000
2 Investments
M & G Accumulation Shares 230,133 217,444
M & G Accumulation Shares (2) 53,103 52,516
Investec FTSE 100 3 Yr Deposit Plane 35,337 34,313
BNY Mellon Accumulation Shares 85,666 81,128
404,239 385,401
404,239 385,401
1,529,514 1,415,401
CURRENT ASSETS
Current Account 2,107 8,615
Deposit Account 30,538 21,325
32,645 29,940
NET ASSETS 1,562,159 1,445,341
FUNDS:
3 Permanent Endowment Fund 1,125,275 1,030,000
4 Unrestricted Fund - General 141,367 133,653
- Designated 295,517 281,688
436,884 415,341
1,562,159 1,445,341
----- End of picture text -----

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 2023

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

	2137.435	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 2022	217,444	52,516	81,128	34,313
Additions at Cost	8,018	1,903	2,424	-
Unrealised Gains	(5,329)	(1,316)	2,114	1,024
Valuation at 31stMarch 2023	230,133	53,103	85,666	35,337

Valuation at 1stApril 2022 Additions at Cost Realised Losses Unrealised (Losses)/Gains Valuation at 31stMarch 2023	2023 £ 385,401 22,345 - (3,507) 404,239	2022 £ 347,842 10,180 (10) 27,389 385,401

The Charity holds 2137.435 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 2023

3 PERMANENT ENDOWMENT FUNDS

Balance at 1stApril 2022 Increase in Trustees’ Valuation Balance at 31stMarch 2023	2023 £ 1,030,000 95,275 1,125,275	2022 £ 985,000 45,000 1,030,000

The trustees have valued the land and houses at £1,125,275 as at the 31[st] March 2023.

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 2022 Net surplus for the year Unrealised gains and (losses) on Investments Transfer between funds Balance at 31stMarch 2023	2023 General Designated £ £ 133,653 281,688 5,892 19,158 1,822 (5,329) - - 141,367 295,517	2022 General Designated £ £ 118,580 248,758 2,548 18,066 12,525 14,864 - - 133,653 281,688