2022-03-31-accounts - Beckenham Parochial Charity

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THE BECKENHAM PAROCHIAL CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

TRUSTEES

Chairman Mrs. K Strachan Ex-Officio member Revd Father Jeremy Blunden

Nominated Members Mrs. G Scales Mrs. K Strachan Mrs. P Duffin Cllr R Mellor R Mitchell Cllr S Wells Co-opted members D Jackson Rev Dr A Jones Mrs. C Baker Mrs M Westropp Mrs. M Elliott Ms E Hodges

Co-opted members

The Trustees are appointed in accordance with the Scheme for the regulation of the Charity dated 24 January 1997 and approved by the Charity Commission in England and Wales.

Clerk to the Trustees Mrs. J Fox Treasurer R Oliver Principal Bankers National Westminster Bank Plc Beckenham, Kent

Independent Examiner

A G Gooch FCCA

Charity Registration number 213912

THE BECKENHAM PAROCHIAL CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

The Trustees of the Beckenham Parochial Charity submit their annual report and accounts for the year ended 31 March 2022.

Organisation and aims

The Beckenham Parochial Charity is regulated by a Scheme dated 24 January 1997, approved by the Charity Commissioners in England and Wales. It is an amalgamation of Charities, the first of which was founded in 1694.

The primary purposes of the Charity are to:-

provide and maintain good housing for needy people resident in Beckenham and Penge who are able to live independently,
provide grants of money for the relief in need, hardship or distress of residents of Beckenham and Penge, or to former almshouse residents, and
provide grants of money for the promotion of education of young persons living in Beckenham and Penge.

Trustees

The names of the Trustees and other information required to be disclosed are on page 1.

Review of the major activities and achievements of the year

The Charity has continued to fulfil its functions during the year. Three new Trustees have been appointed, one nominated by the Local Authority and the other two co-opted.

The maintenance charges for all properties were reviewed during the year and uplifts implemented with effect from January 2022. General maintenance has been ongoing and some minor works outstanding from the covid lockdown have been completed.

Our continued liaison with several local schools has resulted in a number of educational grants being awarded and the various heads of the schools have also been made aware of the fact that the Charity is able to award grants for Relief in Need.

We have worked hard to raise awareness of the Charity, both by producing flyers for distribution and via our website. One of the new Trustees has set up social media accounts. We liaise with other local charities in connection with Relief in Need grants and have been pleased to be able to assist an increasing number of individuals with such grants.

THE BECKENHAM PAROCHIAL CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Review of the major activities and achievements of the year (continued)

All the properties have been inspected and a schedule of necessary works drawn up and implemented. All were of a minor nature. Full electrical tests were carried out on all properties, resulting in the replacement of a heater in one property.

Following a recommendation from The Almshouse Association, Energy Performance inspections were also carried out and certificates issued for our properties at Bertie and Glebe. As a Listed Building, Rawlins is exempt. After discussion, it was agreed that none of the possible energy improvements would be implemented due to the excessively long pay-back times. However, as and when any major works are required to any of the properties, means of improving energy performance will be taken into consideration.

There are nine residents, in three groups of three around the area, seven women and two men. They are visited by one or more of the Trustees and/or spoken to on the phone regularly.

Some are able to be more active than others, but of course some have not been able to go out because of the lockdown and have been shielding, but others have been able to shop or go for walks. Most are supportive of, and helpful to, their neighbours.

All say that they are pleased to have their homes, and are grateful for what the Charity does for them.

During this year, schools and pupils have continued to be impacted negatively by the COVID pandemic and its repercussions. Educational progress has been affected across all age groups and concerns have been expressed about the social integration of younger children particularly having missed several terms of early years teaching. Grant applications for individual families/pupils have been few however we have received a number of whole-school COVID related applications, which we have been happy to grant. A Student Bursary Scheme was introduced this year but to date there have been no applications. Grants to schools have also been made under Relief in Need.

Extra-curricular activities

£1,500 was granted to enable pupils from 4 families to attend a residential trip

Recovery from COVID

Grants were made to three separate schools to enable the schools to employ an additional member of either teaching or support staff to assist early years classes with reintegration to school and recovery from the effects of COVID.

THE BECKENHAM PAROCHIAL CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Review of the major activities and achievements of the year (continued)

We remind local schools every quarter of the support that the Charity can offer and draw their attention to the BPC website where more information is available. Total Grants for the year £9,750.

Applications for Relief in Need have continued to be received from a number of different organisations within the community including Living Well and Citizens advice Bureau. The majority of applications have been passed to the Charity by Bromley Relief in Need who continue to pass over applications which they receive within the Beckenham and Penge postcodes.

Grants for Relief in Need in this financial year have amounted to £9,146.01 which is a decrease of £5,310.72 from the previous year.

Applications have included a number of applications from schools on behalf of their children and families. This has included payment for after schoo! care, school uniforms and counselling. This report does not include payments made for Educational Grants which are dealt with separately.

In addition payment has been made for the purchase, delivery and installation of 10 cookers, 7 washing machines, 3 fridge/freezers and 3 beds. Financial grants have been provided for the purchase of furniture and flooring, to pay for a counselling course, to help with unpaid rent and other bills and the purchase of walking aids.

Review of financial transactions

The Accounts detail a Surplus of Income over Expenditure of £963 all of which arises from the General Fund and before Transfers to Designated Funds. No expenditure was made from Designated Funds.

Maintenance Contributions from Residents at £39,049 rose by £1,410 over those for the previous year arising from an increase as from 1°! January 2022.

Income from Savings and Investments rose slightly over the previous year. Sundry Donations of £375 were received.

Expenditure on recurring costs of the Almshouses rose by £4,759, principally due to the increased charges for electricity and an ongoing programme of general maintenance of the properties. Educational Grants rose by £2,736 and Relief in Need Grants were lower by £5,311. Administration Expenses were £205 higher at £2,035. ;

THE BECKENHAM PAROCHIAL CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

. Review of financial transactions (continued)

Following the recovery in financial markets towards the end of the previous year the value of the charity's Investments continued to grow over the course of the year resulting in an unrealised gain of £151,833 as ai the year end.

The annual transfers to the Designated Funds to provide for the maintenance of the properties and for the redemption of the leases at Atkins Drive (the Glebe Almshouses) were made in order to maintain adequate sums to meet required expenditure as it falls due.

Following consideration of the matter the Trustees were of the opinion that it was unlikely that renewal of the Leases at Atkins Drive at the end of their term would be sought. Accordingly, it was decided that the Designated Fund held for that purpose, be closed.

Approved by the Trustees on 26" October 2022 and signed on their behalf by

Chairman

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE BECKENHAM PAROCHIAL CHARITY

| report on the accounts of the Trust for the year ended 31%t March 2022, which are set out on pages 7 to 13.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

*® examine the accounts under section 145 of the 2011 Act; e to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
e to state whether particular maiters have come to my attention.

Basis of Independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:

» to keep accounting records in accordance with section 130 of the 2011 Act; and e to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

A.G. seo Yop Chartered Certified Accountant 95 High Sireet, Beckenham, Kent, BR3 1AG 28/ Io/ at “RE

THE BECKENHAM PAROCHIAL CHARITY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |UNRESTRICTED|FUNDS ENDOWMENT|TOTAL|TOTAL| |Note|GENERALDESIGNATED|FUND|2022|2021| |Incoming Resources| |Investment Income|2|15:224|15,221|14,984| |Maintenance|Contributions|3|39,049|39,049|37,639| |Other|Income|-|Donations|375|375|0| |Total|-|Incoming Resources|54,645|54,645|52,623| |Resources Expended| |Direct|Charitable|Expenditure:-| |Almshouse|Expenditure| |General|Fund|32,751|32,751|27,202| |Cyclical|Maintenance|Fund|0|0|790| |Exraordinary|Repair Fund|0|0|0| |3|32,751|52,751|27,992| |Educational|Grants|9,750|9,750|7,014| |Relief In Need|Grants|9,146|9,146|14,457| |:|51,647|51,647|49|463| |Administration Expenses|4|2,035|2,035|1,830| |Total|- Resources Expended|53,682|53,682|51,293| |Net|(Outgoing)Incoming|Resources| |before|Transfers|963|963|1,330| |Transfers between Funds|38,690|(|-38,690|)|0|0| |Net (Qutgoing)Incoming Resources|39,653|(|-38,690|)|963|1,330| |Gains/(Losses)|on|Investments| |Realised|0|0|0|0|0| |Unrealised|44,352|9,138|98,343|151,833|290,078| |84,005|-29,552|98,343|152,796|291,408| |Fund|Balances|brought|forward|1st April 2021|564,551|80,303|873,031|1,517,885|1,226,477| |Fund|Balances|carried|forward|31st March 2022|648,556|50,751|971,374|1,670,681|1,517,885|

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THE BECKENHAM PAROCHIAL CHARITY

}

BALANCE SHEET AS AT 31ST MARCH 2022

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Note 2022 2021
Fixed Assets
Tangible Assets Bi 0 0
Investments 6 1,623,750 1,470,178
1,623,750 1,470,178
Current Assets
NatWest Bank Accounts 46,818 48,023
National Savings Investment Accounts 1,617 1,616
COIF Deposit Account 2,570 2,568
Sundry Debtors & Prepayments 1,288 322
52,293 52,529
deduct :- Current Liabilities
Amounts falling due within one year:-
Accruals 5,362 4,822
46,931 47,707
Total - Net Assets 1,670,681 1,517,885
Represented by :-
Unrestricted Funds 7
General Reserve 648,556 564,551
Designated Funds
Cyclical Maintenance Funds 17,765
Extraordinary Repair Funds 32,986
Leasehold Redemption Fund 0
50,751 80,303
Endowment Fund 8 971,374 873,031
1,670,681 1,517,885
Approved by the Trustees on Trustees on on 26th October October 2022 LL Ce
Mrs K Strachan R A Oliver
Chairman Hon. Treasurer
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Approved by the Trustees on Trustees on on 26th October October 2022 Mrs K Strachan Chairman

THE BECKENHAM PAROCHIAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting Policies

Basis of Accounting

The accounts are prepared under the historical convention, with the exception that investments are valued at mid-market prices as at the Balance Sheet date, and in accordance with The Charities Act 2011, applicable accounting standards and the requirements of the Statement of RecommendedPractice - Accounting and Reporting by Charities (SORP).

1 - Incoming Resources

All incoming resources are recognised in statement of financial activities when they are receivable by the charity.

2 - Resources Expended

Resources expended are recognised in the period in which they are incurred. Resources expended includes VAT which cannot be reclaimed

Direct charitable expenditure includes the cost of maintaining the properties of the Charity, and of all other applications of income approved by the Scheme for the regulation of the Charity dated 24 January 1997

Transfers

The trustees, in accordance with their powers, have approved the transfers of amounts of annual income to the designated funds, as disclosed in the accounts.

Tangible Fixed Assets

Due to the restrictions placed on the use of the Charity's properties, they have not been capitalised. They are, however, summarised and shown in note 5.

Investments

Investments listed on a recognised stock exchange, including investment and unit trusts, are stated at midmarket value.

Net Investment gains or losses for the year, both realised and unrealised, are disclosed in the Statement of Financial Activities.

InvestmentIncome	2022		2021
	£	Bs	£	£
Dividends
M&G Multi Asset Shares	450		477
COIF Shares	14,765	15,215	14,475	14,952
Interest
National SavingsAccount	I		11
COIF DepositAccount	1		2
BankAccounts	4	6	19	32
Total		15,221		14,984

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THE BECKENHAM PAROCHIAL CHARITY NOTES TO THE ACCOUNTS FOR TRE YEAR ENDED 31 MARCH 2022

3	Almshouse RevenueAccounts				2022	2021
		Rawlins	Bertie	Glebe	Total	Total
		£	£	£	£	£
	Income
	Maintenance contributions	12,054	12,359	14,636	39,049	37,639
	Expenditure
	EstateManagementCharge	-	-	7,359	7,359	7,043
	Council Tax	-	-	-	“	-
	Electricity	4,890	1,531	5,056	11,477	9,450
	Gas	-	1,311	-	1,311	1,264
	Water	346	923	462	1,731	1,613
	Insurance	583	454	-	1,037	1,008
	Repairs - General	2,996	3,347	3,113	9,456	6,440
	Repairs - Cyclical	-	-	:	-	790
	Repairs - Extraordinary	~	-	-	~	-
	Alarn Call Service	-	202	-	202	198
	TV Licences	-	-	-	-	-
	Gifts to Residents	59	59	60	178	186
		8,874	7,827	16,050	32,751	27,992
	Transfers to :
	Cyclical Maintenance Fund	1,800	1,800	1,200	4,800	4,800
	Extraordinary RepairsFund	1,950	1,950	1,000	4,900	4,900
	LeaseholdRedemptionFund	-		(48,390)	(48,390)	1,000
		3,750	3,750	(46,190)	(38,690)	10,700
	NetIncome(Expenditure) on
	Almshouse Revenue	(570)	782	44,776	44,988	(1,053)
4	Administration Expenses				2022	2021
					£	PS)
	Office and Meetings				185	93
	Clerk's Honorartum				400	400
	Accountancy Fee				1,128	1,080
	Subscription -NAA				203	200
	SundryCosts				119	57
					2,035	1,830

THE BECKENHAM PAROCHIAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022

5 Taugible Fixed Assets

The Charity owns land and buildings which are used as Almshouses and to which restrictions on disposition are imposed by the Charities Act 1993. A summary of them and their insured values are as follows:

	2.022	2021
	£	2
Freehold Property:
1,3 & 5 BromleyRoad, Beckenham, Kent	654,101	598,719
31,31A& 33 Bromley Road, Beckenham, Kent	508,743	465,668
	1,162,844	1,064,387

Leasehold Property

5,7 & 9 Atkins Drive, West Wickham, Kent. Insured by the Glebe Housing Association under a block policy covering all their properties. The Trustees consider that adequate cover is in place.

The Leasehold Property is comprised in a lease dated 11 December 1995, for a term of 60 years.

Fixed AssetInvestments						2022	2021
	Unrestricted		Funds	Endowment		Total	Total
	General	Designated		Fund		Funds	Funds
	£		£			£	3
Valuation at IstApril 2021	$07,267		89,879	873,03	1	1,470,177	1,178,360
Additions	-		1,740		-	1,740	1,740
Sale Proceeds	-		-		-	“	-
Transfers	45,391		(45,391)		“	-	-
Unrealised Gains on valuation at
at31 March 2022	44,352		9,138	98,343		151,833	290,078
Valuation at 31 March 2022	597,010		55,366	971,374		1,623,750	1,470,178
The valuation at 3] March 2022
comprises
Investments listedon arecognised
stockexchange including
investments and unit trusts:
COIF Accumulation Shares				439,101		439,101	393,356
COIF Income Shares	538,330					538,330	495,562
M&G Charity MultiAsset-Ace Shares	46,159		55,366	532,273		633,798	569,553
M&G CharityMulti Asset-Inc Shares	12,521					12,521	11,707
	597,010		55,366	971,374		1,623,750	1,470,178
Historical costor value
The historicalcost or value ofthe
investments datingfrom the scheme
establishingthe charity, are
Value at24 January 1997	220,784		14,927	149,307		385,018	385,018
Cost since	-		27,588		-	27,588	40,848
	220,784		42,515	149,307		412,606	425,866
		11

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THE BECKENHAM PAROCHIAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022

7 Unrestricted Funds

General Reserve	£
Balance at 1 April2021	564,551
Net (Outgoing)IncomingResources for theyear	963
Transfers between Funds	38,690
Unrealised Gains(Losses) on Investments	44,352
Balanceat31March2022	648,556

The General Reserve represents the unrestricted funds which the Trustees are free to use in accordance with the charitable objects, and which are not designated for particular purposes.

Designated Funds	Rawlins	Bertie	Glebe	Total
	£	£	£	£
CyclicalMaintenanceFunds
Balance at 1 April 2021	1,55]	6,608	4,806	12,965
Transfers fromEndowmentIncomeFund	1,800	1,800	1,200	4,800
Cyclical Maintenance Expenditure	-	-	-	-
Balance at31 March2022	3,351	8,408	6,006	17,765
Extraordinary RepairsFunds
Balance at 1 April2021	10,302	6,707	5,694	22,703
Transfers fromEndowmentIncomeFund	1,950	1,950	1,000	4,900
Unrealised Gains(Losses) onInvestments	4,336	889	158	5,383
Extraordinary Repairs Expenditure	-	-	-	-
Balance at 31 March2022	16,588	9,546	6,852	32,986
LeaseholdRedemptionFund - Glebe
Balance at 1 April 2021			44,636	44,636
TransfertoEndowmentIncomeFund			(48,390)	(48,390)
Unrealised Gain(Losses) onInvestments			3,754	3,754
Balance at 31 March 2022			~	-
Totaldesignatedfunds	19.939	__17,954	12,858	50,751

The Cyclical Maintenance Funds were established and are maintained as a reserve fund for the purpose of providing for those items of ordinary maintenance and repair of the Almshouses and other property of the Charity which recur at infrequent intervals.

The Extraordinary Repairs Funds were established and are maintained as a reserve fund for the purpose of providing for the extraordinary repair, improvement or rebuilding of the Almshouses and other buildings of the Charity.

The Leasehold Redemption Fund was established toprovide for the redemption of the Leasehold Property at 5,7 & 9 Atkins Drive, West Wickham. During the year, having carefully considered the terms of the Lease and their redemption terms, the Trustess decided to close this Designated Fund.

THE BECKENHAM PAROCHIAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022

8 Endowment Fund

Balance at 1 April 2021	873,03 1
Unrealised Gain(Losses) on Investments	98,343
Balanceat31March2022	971,374

The Endowment Fund represents those Assets which must be held permanently by the Charity, which are all Investments in Accumulation Shares. Income arising on the Endowment Fund Investments is automatically re-invested, and is reflected in the Accumulation Share price. Any capital gains or losses arising on the Investments, both realised and unrealised, form part of the Fund, and the income is riot shown separately. Investment management charges and legal advice relating to the fund are charged against it.

9 Analysis of Net Assets between Funds

Analysis of NetNet Assets between FundsFunds
	Unrestricted Funds		Endowment
	General	Designated	Fund	Total
	£	£	£	£
Fund balances at 31 March 2022
are represented by:
FixedAssetInvestments	597,010	55,366	971,374	1,623,750
CurrentAssets	51,546	(4,615)		46,93
	648,556	50,751	971,374	1,670,681