2024-03-31-accounts - Beckenham Parochial Charity

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THE BECKENHAM PAROCHIAL CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

TRUSTEES at 31 March 2024

Chairman Mrs K Strachan Ex-Officio Member Revd Father J Blunden

Nominated Members Mrs K Strachan R Mellor S Wells R Mitchell Cllr Mrs K Bance Mrs G Hollamby

Co-Opted Members D Jackson Rev Dr A Jones Mrs C Baker Mrs M Westropp Mrs M Elliott

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 (until 31 August 2023) 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 2024

The Trustees of the Beckenham Parochial Charity submit their annual report and accounts for the year ended 31 March 2024.

Organisation and aims

The Beckenham Parochial Charity is regulated by a Scheme dated 24 January 1997, approved by the Charity Commissioners of 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. One Trustee has stepped down during the year, retiring after many years’ service. Two new Trustees were appointed to act from January 2023

The maintenance charges for all properties were increased with effect from1 January 2024. General maintenance has been ongoing with minor works undertaken.

Our continued liaison with local schools has resulted in a number of educational grants being awarded.

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 2024

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

All properties have been visited and the majority of maintenance work required has been of a minor nature. One of our residents died in November 2023 and the property he occupied for over 25 years is to undergo major renovation in the forthcoming year.

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

Some are able to be more active than others. Of the eight remaining residents, all are still independent, but one now has carers attending regularly. Most have additional family support.

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

During the year, it was apparent that schools were continuing to operate under challenging conditions due to budgetary constraints and more pupils presenting with continuing issues relating to health and well-being post lockdown. There has been an increase in the number of applications to support pupil wellbeing. Grants have been awarded to provide resources to equip a sensory space for pupils with Special Educational Needs and a lunchtime club for vulnerable children. We have also supported participation in the Duke of Edinburgh Scheme for a local secondary school and enabled the purchase of challenging texts for a sixth form library in order to develop critical literacy and prepare pupils for university application and interviews. We have provided financial support to schools to enable pupils from low-income families to participate in a residential trip and to purchase school uniforms.

We remind local schools every quarter of the support the Charity can offer and draw their attention to the BPC website where more information is available. The Educational Grants for the year totalled £13,005.16.

Applications for Relief in Need continue to be received from a variety of different organisations including Living Well, Bromley Relief in Need, DePaul Charity and Citizens Advice Bureau.

Grants for this financial year totalled £6,968.97 and included the purchase of cookers, washing machines and fridge/freezers, some curtains, flooring coverings, furniture, several beds, a sofa and chest of drawers.

THE BECKENHAM PAROCHIAL CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Review of financial transactions

The Accounts detail a Deficit of Income over Expenditure of £1,920. This arises from a Surplus of £6,175 on the General Fund before transfers to Designated Funds, and a Deficit of £8,095 on the Designated Funds arising from cyclical and extraordinary repairs and maintenance of the properties.

Maintenance Contributions from Residents at £43,104 are £174 lower than those for the previous year. Whilst, as mentioned above, the Contributions were increased as from 1[st] January 2024, one property had become vacant in November 2023 and remained so for the rest of the year pending major refurbishment,

Income from Savings and Investments rose by £376 over the previous year. A Sundry Donation of £500 was received.

Expenditure on the recurring costs of the Almshouses at £39.892, was £10,525 lower than that for the previous year, arising from a fall of £8,570 on the cyclical and extraordinary repair and maintenance of the properties. Educational Grants rose by £190 to £13,005 and Relief in Need Grants were lower by £155 at £6,969. Administration Expenses were lower by £1816 as the previous year included Professional Fees of £1,440 in respect of a valuation of the properties for insurance purposes.

A substantial rise in financial markets during the year resulted in the value of the Charity’s Investments being £141,574 higher as at the year end.

The annual transfers to the Designated Funds were made to provide adequate sums for the maintenance of the properties as the required expenditure falls due. In addition, following the tracing of a document from the Charity Commission, the Glebe Leasehold Redemption Fund which had been maintained between 1997 and 2002 was reinstated in order to comply with the document

This Report was approved by the Trustees on 16[th] October 2024 and signed on its behalf by

Chairman

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

THE BECKENHAM PAROCHIAL CHARITY

I report on the accounts of the Trust for the year ended 31[st] March 2024, which are set out on pages 6 to 12.

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;
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
to state whether particular matters 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
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. Gooch, FCCA

Chartered Certified Accountant

95 High Street,

Beckenham,

Kent, BR3 1AG

THE BECKENHAM PAROCHIAL CHARITY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024

UNRESTRICTED FUNDS ENDOWMENT Note GENERAL DESIGNATED FUND Incoming Resources Investment Income 2 16,171 0 0 Maintenance Contributions 3 43,104 0 0 Other Income - Donations 500 0 0 Total- Incoming Resources 59,775 0 0 Resources Expended Direct Charitable Expenditure:- Almshouse Expenditure General Fund 31,797 0 Cyclical Maintenance Fund 0 2,976 Exraordinary Repair Fund 0 5,119 3 31,797 8,095 Educational Grants 13,005 0 Relief In Need Grants 6,969 0 51,771 8,095 Administration Expenses 4 1,829 0 Total- Resources Expended 53,600 8,095 Net (Outgoing)Incoming Resources before Transfers 6,175 ( -8,095 ) ( Transfers between Funds ( -60,691 ) 60,691 Net (Outgoing)Incoming Resources ( -54,516 ) 52,596 ( Gains/(Losses) on Investments Realised 0 0 0 Unrealised 50,190 3,714 87,670 ( -4,326 ) 56,310 87,670 Fund Balances brought forward 1st April 2023 623,588 44,424 973,421 Fund Balances carried forward 31st March 2024 619,262 100,734 1,061,091	TOTAL 2024 16,171 43,104 500 59,775 31,797 2,976 5,119 39,892 13,005 6,969 59,866 1,829 61,695 -1,920 ) ( 0 -1,920 ) 0 141,574 ( 139,654 ( 1,641,433 1,781,087	TOTAL 2023 15,795 43,278 3172 62,245 33,752 8,379 8,286 50,417 12,815 7,124 70,356 3,645 74,001 -11,756 ) 0 -11,756 0 -17,493 ) -29,249 ) 1,670,682 1,641,433

THE BECKENHAM PAROCHIAL CHARITY

BALANCE SHEET AS AT 31ST MARCH 2024

Note Fixed Assets Tangible Assets 5 Investments 6 Current Assets NatWest Bank Accounts National Savings Investment Accounts COIF Deposit Account Sundry Debtors & Prepayments deduct :- Current Liabilities Amounts falling due within one year:- Accruals Total- Net Assets Represented by :- Unrestricted Funds 7 General Reserve Designated Funds Cyclical Maintenance Funds Extraordinary Repair Funds Leasehold Redemption Fund Endowment Fund 8	31,241 1,620 2,742 1,124 36,727 6,953 16,010 33,733 50,991	2024 0 1,751,313 1,751,313 29,774 1,781,087 619,262 100,734 1,061,091 1,781,087	43,900 1,619 2,615 572 48,706 15,272 14,186 30,238 0	2023 0 1,607,999 1,607,999 33,434 1,641,433 623,588 44,424 973,421 1,641,433

Approved by the Trustees on 16th October 2024

..................................................... Mrs K Strachan Chairman

........................................ R A Oliver Hon. Treasurer

THE BECKENHAM PAROCHIAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

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.

2	Investment Income Dividends M & G Multi Asset Shares COIF Shares Interest National Savings Account COIF Deposit Account Bank Accounts Total	£ £ 531 15,061 15,592 2 131 446 579 16,171 2024	£ £ 477 15,061 15,538 2 53 202 257 15,795 2023

THE BECKENHAM PAROCHIAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

3 4	Almshouse Revenue Accounts Rawlins £ Income Maintenance contributions 13,557 Expenditure Estate Management Charge - Electricity 6,384 Gas - Water 400 Insurance 670 Repairs - General 2,549 Repairs - Cyclical - Repairs - Extraordinary - Alarn Call Service - TV Licences - Gifts to Residents 93 10,096 Transfers to : Cyclical Maintenance Fund 1,800 Extraordinary Repairs Fund 1,950 Leasehold Redemption Fund - 3,750 Net Income(Expenditure) on Almshouse Revenue (289) Administration Expenses Office and Meetings Clerk's Honorarium Independent Examiner Fee Pofessional Fees-Insurance Valuation Subscription - NAA Sundry Costs	Bertie £ 12,340 - 1,571 2,530 1,067 522 2,797 2,976 5,119 124 - 62 16,768 1,800 1,950 - 3,750 (8,178)	Glebe £ 17,207 5,949 5,770 - 507 - 694 - - - 15 93 13,028 1,200 1,000 50,991 53,191 (49,012)		2024 Total £ 43,104 5,949 13,725 2,530 1,974 1,192 6,040 2,976 5,119 124 15 248 39,892 4,800 4,900 50,991 60,691 (57,479) 2024 £ 198 - 1,224 - 258 149 1,829	2023 Total £ 43,278 6,909 14,452 2,768 1,811 1,129 6,240 8,379 8,286 206 15 222 50,417 4,800 4,900 - 9,700 (16,839) 2023 £ 236 400 1,188 1,440 209 172 3,645

THE BECKENHAM PAROCHIAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

5 Tangible 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:

Freehold Property: 1,3 & 5 Bromley Road, Beckenham, Kent 31,31A & 33 Bromley Road, Beckenham, Kent	2024 £ 787,210 612,272 1,399,482	2023 £ 771,774 600,266 1,372,040

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.

6	Fixed Asset Investments General Designated £ £ Valuation at 1st April 2023 577,434 57,144 Additions 600 1,140 Sale Proceeds - - Transfers (50,991) 50,991 Unrealised Gains (Losses)on valuation at 31 March 2024 50,190 3,714 Valuation at 31 March 2024 577,233 112,989 The valuation at 31 March 2023 comprises Investments listed on a recognised stock exchange including investments and unit trusts: COIF Accumulation Shares COIF Income Shares 564,844 M & G Charity Multi Asset-Acc Shares 112,989 M & G Charity Multi Asset-Inc Shares 12,389 577,233 112,989 Historical cost or value The historical cost or value of the investments dating from the scheme establishing the charity, are Value at 24 January 1997 220,784 14,927 Cost since - 46,068 220,784 60,995 Unrestricted Funds	Endowment Fund 973,421 - - - 87,670 1,061,091 488,165 572,926 1,061,091 149,307 - 149,307	2024 Total Funds £ 1,607,999 1,740 - - - 141,574 1,751,313 488,165 564,844 685,915 12,389 1,751,313 385,018 46,068 431,086	2023 Total Funds £ 1,623,752 1,740 - - (17,493) 1,607,999 435,191 517,959 642,676 12,173 1,607,999 385,018 44,328 429,346

THE BECKENHAM PAROCHIAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

7 Unrestricted Funds

General Reserve Balance at 1 April 2023 Net (Outgoing)Incoming Resources for the year Transfers to Designated Funds Unrealised Gains(Losses) on Investments Balance at 31 March 2024	£ 623,588 6,175 (60,691) 50,190 619,262

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 Cyclical Maintenance Funds Balance at 1 April 2023 Transfers from Unrestricted General Fund Cyclical Maintenance Expenditure Balance at 31 March 2024 Extraordinary Repairs Funds Balance at 1 April 2023 Transfers from Unrestricted General Fund Extraordinary Repairs Expenditure Unrealised Gains(Losses) on Investments Balance at 31 March 2024 Leasehold Redemption Fund - Glebe Balance at 1 April 2023 Transfer from Unrestricted General Fund Unrealised Gain(Losses) on Investments Balance at 31 March 2024 Total designated funds	Rawlins £ 1,962 1,800 - 3,762 10,757 1,950 - 2,942 15,649 19,411	Bertie £ 5,018 1,800 (2,976) 3,842 11,611 1,950 (5,119) 668 9,110 12,952	Glebe £ 7,206 1,200 - 8,406 7,870 1,000 - 104 8,974 - 50,991 - 50,991 68,371	Total £ 14,186 4,800 (2,976) 16,010 30,238 4,900 (5,119) 3,714 33,733 - 50,991 - 50,991 100,734

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 and is maintained to provide for the redemption of the Leasehold Property at 5,7 & 9 Atkins Drive, West Wickham.

THE BECKENHAM PAROCHIAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Endowment Fund Balance at 1 April 2023 Unrealised Gain(Losses) on Investments Balance at 31 March 2024	£ 973,421 87,670 1,061,091

8 Endowment Fund

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 not shown separately. Investment management charges and legal advice relating to the fund are charged against it.

9 Analysis of Net Assets between Funds

Fund balances at 31 March 2023 are represented by: Fixed Asset Investments Current Assets	General Designated £ £ 577,233 112,989 42,029 (12,255) 619,262 100,734 Unrestricted Funds	Endowment Fund £ 1,061,091 - 1,061,091	Total £ 1,751,313 29,774 1,781,087