Registered Charity No. 213803 THE NEWBURY CHURCH AND ALMSHOUSE CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE NEWBURY CHURCH AND ALMSHOUSE CHARITY INDEX TO THE FINANCIAL STATEMENTS Page no. Report of the Trustees Accountant's Report Receipts and Payments Accounts Estates Account - Almshouse Account Statement of Assets and Liabilities Notes to the Financial Statements Five Year Summary
THE NEWBURY CHURCH AND ALMSHOUSE CHARITY Registered Charity No. 213803 ANNUAL REPORT 2024 The Newbury Church and Almshouse Charity is constituted by a scheme of the Charity Commissioners dated 6th March 1990. It is also registered with the National Association of Almshouses (No. 1609). The registered address of the Charity is: Admin & Operations Manager: (A&OM) Mr Chris Roberts 44 Donnington Square Newbury Berkshire RG14 IPP TRUSTEES Ex-officio The Revd Will Hunter Smart Ms Tania Wolak/Madeline Norman Mr Richard Coward Co-opted Mr lan Park Mr Bob Kennaugh Mr Colin Price Ms Jo Fageant Mr Darren King Revd Pam McKellen Independent Examiners: PBA Accountants IB Charnham Ln Ramsbury Hungerford RG17 OEY Organisation and Aims The governing document of the Charity states that the objects of the Newbury Church and Almshouse Charity are: The provision of low-cost housing for people in need within Newbury (RG14). The maintenance of the fabric of the Parish Church of St Nicolas. The Board of Trustees meets at least three times a year and is chaired by the Rector of St Nicolas Church.
The main charitable activities undertaken are: To provide affordable accommodation for those in need, at fifteen almshouses in Newtown Road and twelve flats in Harvest Green, Newbury. To provide finance for the upkeep of the fabric of St Nicolas Church. To provide for relief-in-need for those living in the area of benefit. REVIEW OF THE YEAR 2024 The Charity has continued to operate throughout 2024, with all meetings now held in the St Nicolas Church meeting rooms. Ongoing operations included planned maintenance, void works, residents moving out, and new residents moving in. Maintenance, Services and Repairs The staircase hall in Block 7-12 Harvest Green was redecorated, and the gardening services were increased, much to the satisfaction of residents. The fire alarm upgrade at Harvest Green was completed, with all flats in both blocks included. A small budget surplus allowed the Charity to continue with both routine and larger works to ensure the accommodation remained in good order throughout 2024. This year's larger works also included two refurbishments for vacant properties at Newtown Road. Routine repairs continued throughout the year as required, predominantly plumbing and electrical faults. Expenditure and Investments Regular financial reviews, operational updates and resident reports were provided to the Trustees by the A&OM at Trustee meetings. A small sum of beneficiaries, arrears in 2024 was due to Standing Orders not being increased by the residents in May 2024. Even given the uncertain financial climate, the Charity's investments with M&G and CCLA both saw worthwhile increases at year end. Investments were made in the Charity's Building Fund, Church Repair Fund and Cyclical Maintenance Account in line with the agreed budget. The budgeted amount from the Extraordinary Repair Fund was used this year to pay for the replacement of two commercial pumps, following the boiler replacements in 2023, within budget.
Although no relief-in-need donations were made in 2024, the Trustees agreed to maintain the fund for 2025 to manage any requests for the coming year. Robust financial management processes remain in place, including dual authorisation for all outgoing payments and adherence to the Charity's procedures for approval of purchase orders and payments. Policy The procedure for approval of purchase orders and payments policy was updated and approved by the Trustees. Residents and Applicants There was a shortage of local Newbury residents wishing to become beneficiaries of NCAAC, and the refurbishment of two vacant properties in 2024 also slightly increased void costs. Trustees and Personnel The cleaning of the communal areas at Harvest Green is now carried out by another resident following the resignation of the previous cleaner. The Trustees postponed their annual autumn visits to residents until spring 2025. Following the resignation of the existing Churchwarden, the new Churchwarden became an Ex-officio Trustee of the Charity. Signed: p.p. Will Hunter Smart (Chairman) On behalf of the Board of Trustees Dated: Ilth October 2025
THE NEWBURY CHURCH AND ALMSHOUSE CHARITY ACCOUNTANTS REPORT We have prepared the attached Financial Statements for the year ended 31st December 2024 from the records, information and explanations supplied to us by our client and we certify they are in accordance therewith. Date 23rd October 2025 PBA ACCOUNTANTS AND BUSINESS ADVISERS LTD RAMSBURY HOUSE CHARNHAM LANE HUNGERFORD BERKSHIRE RG17 OEY
THE NEWBURY CHURCH AND ALMSHOUSE CHARITY ESTATES ACCOUNT RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 RECEIPTS FROM ASSETS COIF Investment Interest Building Society Interest 35,999 996 35,504 377 Total receipts for year 36,995 35,881 PAYMENTS Charitable Church Maintenance Relief in need payments Other Expenses Accountancy 26.000 26,000 26,000 26,000 Payments for investment assets Church repair fund 26,000 26,000 Net receipts 10,995 9,881 Cash funds at 31 December 2023 94,098 84,217 Cash funds at 31 December 2024 105,094 94,098
THE NEWBURY CHURCH AND ALMSHOUSE CHARITY ALMSHOUSE ACCOUNT RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 RECEIPTS FROM ASSETS Income from assets= Residents Maintenance Contributions Building Society Interest CAF Interest Interest Santander M&G Investment Interest Refund St Nic's 123,781 117,289 750 713 50 326 669 Total recelpts for year 125,300 118,284 PAYMENTS Water Charges Repairs and Renewals Insurance National Almshouse Association Subscription Office expenses and IT Bank account fees Accountancy Fees Heating and Hot Water Emergency Care Alarms Gardening Cleaning Employee Costs 2,965 16,888 6,858 2,788 7,553 3,409 602 2,058 60 1,200 32,649 239 5,090 2,762 16,327 1,269 60 1,200 19.116 7,573 2,692 14,552 73,172 74,736 Payments for investment assets Extraordinary Repair Fund Building Fund EXTRAORDINARY PAYMENTS Cyclical Maintenance Newtown Road Upgrade Works Harvest Green Upgrade Works Extraordinary Repairs Newtown Wall Replacement 22,354 5,844 2,166 22,354 8,010 Total payments for the year 95,526 82,746 Net receipts 29,774 35,537 Cash funds at 31 December 2022 139,510 103,973 Cash funds at 31 December 2023 169,284 139,510
THE NEWBURY CHURCH AND ALMSHOUSE CHARITY STATEMENT OF ASSETS FOR THE YEAR ENDED 31 DECEMBER 2024 Estates Account Almshouse Account Total 2024 Total 2023 Monetary Assets Bank Account5 105,094 169,284 274,378 233, 608 Investments At market value: Units held Total 2024 Total 2023 COIF Accumulation Shares: Church Repair Fund Estates Account NAACIF Accum. Shares: Extraordinary Repair Fund Building Fund Almshouses Account 414.13 65,168.26 107,929 1,322,479 107,929 1,322,479 102, 704 1,293,264 5,290.50 1,422.88 17,611.00 640,529 172,270 16.348 640,529 172,270 16.348 592,973 159,480 15,818 1,430,408 829,147 2,259,555 2,164,239 Non-monetary Assets Almshouses 15 houses at Newtown Road, Newbury 12 flats at Harvest Green, Fifth Road, Newbury APPROVED BY THE TRUSTEES ON SIGNED: ¢,,IL,,L, Rev'd Will Hunter Smart ¥- OLI.l(201£
THE NEWBURY CHURCH AND ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of Accounting The financial statements have been prepared on the receipts and payments basis. b) Depreciation No provision for depreciation has been made in the financial statements. The properties are maintained in good order and their current values are considered to be in excess of recorded costs. INVESTMENTS General Funds Church Repair Fund Estates Account Almshouses Account Restricted Funds Extraordinary Repair Fund Building Fund TOTAL Cost Balance as at l January 2024 322,312 5,414 51,400 108,250 42,000 529,376 Appropriations for the year Balance as at 31 December 2024 322,312 5,414 51,400 108,250 42,000 529,376 Market Value 31 December 2024 1,322,479 16,348 107,929 640,528 172,270 2,259,554 31 December 2023 1,293,264 15,818 102,704 592,973 159,480 2,164,239
THE NEWBURY CHURCH AND ALMSHOUSE CHARITY FIVE YEAR SUMMARY FOR THE YEAR ENDED 31 DECEMBER 2024 Market Value of Investments General Fund5 Estates Account Church Repair Fund Almshouses Account Restricted Funds Extraordinary Repair Fund Building Fund TOTAL 31 December 2024 1,322,479 16,348 107,929 640,528 172,270 2,259,554 31 December 2023 1,293,264 15,818 102,704 592,973 159,480 2,164,239 31 December 2022 1,184 427 15,552 91,398 558,311 150,158 1,999,846 31 December 2021 1,340,277 16,052 100,436 553,935 148,980 2,159,680 31 December 2020 1,173,772 14,726 85,561 512,289 131,639 1,917,987 Movement in Year 31 December 2023 1,293,264 15,818 102,704 592,973 159,480 2,164,239 Movement 29,215 530 5,225 47,555 12,790 95,315 31 December 2024 1,322,479 16,348 107,929 640,528 172,270 2,259,554