2022-12-31-accounts - Hibbert Almshouse Charity

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INDEX		Page No.
Bankers and Professionals
Report ofthe Trustees		3 —5
Report ofthe Reporbng	Accountant
Statement ofFinancial	Activities
Balance Sheet
Notes to the Financial Statements		9 —17snd 19
hcome and Expenditure	Account	18
B~AND PROFESSIONALS

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			ASAT 31DE	CEMBER2022
				Notes	2022	2021
Fixed assets Housing properties Tangible fixed assets illvestmcnts				9 9 10	811,529 1,655 36,990	99,546 2,127 235,791
Total fixed assets					850,174	337,464
Current assets Debtors and prepayrnents Bank balances				11 12	454,847 .118,402 ..	28 995 513,781
Total current assets					573249	542,776
Liabilities Crcditonc Amounts	falling due tvithiu one year				(92,590)	(14247)
Net current assets					480,659	528,529
Total assets loss current		liabilities			1330833	865993
The funds of the charity Endowment Fund				15a	16,728	]6,597
Restricted Funds				15b	1241,457	7&1,741
Unrestricted Funds				16	72,648	67,655
Total charity funds					1,330,833	865/93
The financial statements		set out on	pages 7to 19were	approved by the Trustees and authorised for issue on
October 2023and	sigaed ontheh		behalf, by:
					LI	.~
KF	CA	-Chairman			Roger tttrd —Trustee

	FORTBEYE	FORTBEYE	FORTBEYE	ARENDED 31DECEMBER	ARENDED 31DECEMBER	2022
7.	UNflS UNDER MANAGEMENT			ATYEAR END
							2022	2021
	Almshouses						8	8
8.	EMPLOYEES	INFORMATION					2022	2021
	The average weekly number ofpersons employed				during the year was	(ruii ttlne
	equivalent)						Nil	Nil
9(a).	FIXEDASSETS - FREEHOLD			PROPERTY
							2022	2021
							g
	Capitalisation	ofRenovations	Project Expendtture:
	At 01.012022						99,546	50,158
	Additions						711983	49 388
	At31.12.22						811529	99546
	The value placed upon the site		and the abnshouses
	isthe historio cost, which is deemed			to be gNi1.
							2022	2021
9(h).	FIXEDASSETS -EQUIPMENT
	Cost
	At 01.01.2022						4,775	4,311
	Additions						419	464
	Disposals
	At31.12.2022						4730	4775
	Depreciation
	At' 01.01,2022						2,648	27170
	Charge for the year						473	478
	Disposals						-46
	Alt 31.12,2022						3975	2648
	Net BookValue
	At31.12.2022						1655	2127

The investments were held in MdtG Charity Mu lt31uDecember	lti-Asset Fund, snd the hokting	s are stated at the m	arket
vaue as a .		2022	2021
At 1 Ianuary 2022 Additions: Dividends received Saleofshares Net change in value ofinvestments during the year		235,791 8,767 (206,494) (1,074)	208,363 6,860 20,568
At31December 2022		36,990	235,791
Held at31 December 2022 for.
Cyclical, and Extraordinary Maintenance 2,093Accumulation shares	and General Reserves	20 262	219194
Endowment Reserve 158Accumulatioa shares		16,728	16,597
		36,990	235,791
11. DEBTORS AND PREPAYMENTS Expense prepayments Funds held by: London BlockManagement Maintenance Contri7rutions due Grants mceivable: Greater London Authority	Ltd	2,330 16,781 3,121 400,00	943 15,693 2,748
Garfield Weston Foundation Other debtors		25,000 7,615	9,611
		454,847	28,995
12. BANK BALANCES Current account Deposit account		76,580 41,770 52	897 512,832 52
Cash in hand
		118,402	513,871
13. CREDITORS AND ACCRUALS
Amouuts fatling due wtthta one year Expense accruals Maintenance Contributions in advance		941 91,649	12,077 2,170
		92,590	14,247

li'unde -2022
			Income		Expenditure		Net		Transfer	Gains
										aud
Name	Balances									(Losses)	Balances
	1.12022										31.12.2022
		8		8							8
Endowment	16,597		617				617			(486)	16,728
Restricted	781,741		470,058		(10,719)		459,339		377		1,241,457
Unrestricted:
Geneml	40,000		56,875		(44,143)		12,732		(12,872)		39,879
									19
Extmordinary	10,000		3,704		(7,267)		(3,563)		741	(4,410)	7,504
									4,736
Cyclical	10,000		4,446				4,446		8,136	(3,300)	18,141
									(1,141)
Charitable	7,655				(535)		(535)		4		7,124
Total	67655		65025		51945		13080		377	7710	72 648
Total Ii'unde:	865,993		535,700		(62,664)		473,036			(4,196)	1,330,833
Funds - 2021
		Income		Exitenditure			Net	Transfer		Gains
										and
Name	Balances									(Losses)	Balances
	1.1,2021									31.12.2021
			8
Endowment	]4,665		483				483			1,449	16,597
Restricted	227,400	305,363			(2,587)	302,776			251,565		781,741
Unrestricted:
General	72302		57,315		(40,192)		17,123	(12,400)			40,000
								(37,025)
Extraordinaiy	81,131		2,898				2,898		4,560	8,684	10,000
								(87473)
Cyclical	115,513		3,479				3,479		7,840	10,435	10,000
								(127,267)
Charitable	8,430						(775)				7,655
Total	277376		63 692		40967		22 765	251565		19119	67655
Total Funds:	519,441	369,538			(43,554)	326,984				20 568	865

RESTRICTEDRE	SERVES
			2022	2021
				8
ENDOWMENT RESERVE
At 1 January 2022			16,597	14,665
(Decrease)/Increase	in the value ofNational	Association ofAlmshouses	617	1,449
Dividends received	re-invested		486	483
At31December 2022			16728	16597

				2022	2021
15b.	OTHER RESTRICTED RESERVES
	RENOVATIONS RESERVE
	A 1 January 2022			770,738	216,397
	Donations received			39,476	305,135
	Grants receivable: Greater London	Authority		400,000
	Garficld Weston	Foundation		25,000
	Tax recoverablo			5,582	228
	Executive Fundraiser -Fee			(1,724)	(2,587)
	Fundraising fee —Gsrfleld Weston Foundation Allocation ofdividends and capital losses			(8,995) 377
	Transfer lorn Revenue Reserves				251 565
	At 31 December 2022			1,230454	770738
	The grant receivable flom the Greater Londo Authority		is for improving
	"Equal Access", formerly called "Disabled Access".
	GARDEN RESERVE
	At 1 January 2002			11,003
	Donation received				11,003
	At 31December 2022			11,003	11,003
TOTAL - 15b				1 241457	781741
16.	UNRESTRICTED RESERVES
				2021	2021
16a.	GENERAL RESERVES
	At 1January 2022			40,000	72,302
	Total Smplus foryear			12,732	17,123
	Less transfers to Other Unrestricted	Reserve0		(12,853)	(12,400)
	(Deficit)/Surplus for the year —after transfers to reserves			121	4 723
				39,879	77,025
	Transfer to Renovations Reserve				37025
	At 31December 2022			39879	40 000

EXTRAORDINARY REPAIRS RESERVE
		2022	2021
At 1 January 2022 Transfer trom income and oxpenditure account Dividends received re-invested Less hunsfer to:General Reserves —Extraordinary (Decreaso)/increase in the value ofinvestments and Reallocation ofdividend income and capital gains	Repairs (Note 4) loss on sale	10,000 4,736 3,704 (7,267l (4,410) 741	81,131 4,560 2,898 8,684
Transfer to Renovations Reserve			(87,273)
At 31December 2022		7,504	10,000

are hold in the MING Charity Mul	are hold in the MING Charity Mul	ti-Asset Fund	ti-Asset Fund	—Accumulahon shares.
16c. CYCLICAL MAINTENANCE		RESERVE			2022	2021
					8	6
	At 1Jaausry 2022				10,000	115,513
	Tmnsfar ii'om income aad expenditure		account		8,136	7,840
	Dividends received re-invested				4,446	3,479
	(Decrease)/Increase in the value Reallocation ofdividend income	ofinvestments snd loss on sale aad capital gains			(3,300) (1,141)	10,435
	Transfer to Renovations Reserve					(127@67)
	At 31December 2022				18,141	10,000
	By order ofthe Charity Commissioners dated 16May 1979,the Trustees may establish a reserve for the purpose ofprovidiug for ordinary mamtenance and repair ofthe Almshouses as may recur at infrequent intervals. Transfers to the reserve werof7,840 in 2020 (2020:f7,536)and are invested in
	MING Charity Multi-Asset Fund —Accmnulation			shares.
16d,	CHARITABLE RESERVE				2022	2021
					8	6
	At 1 January 2022				7,655	8,430
	Transfer to General Reserves —Expenses —Page 16 AllocaHon ofdividend income capital loss/surplus				(535) 4	(775)
					(531)	(775)
					7,124	7,655

				2022	2021
INCOME				g	6
Maintenance contributions				59,017	57,286
Less: Voids				3 115
				55,902	57286
Investment income				8,767	6,860
Donations				45,058	305,135
Grants				425,000
Other income				973	257
TURNOVER				535700	369538
EXPENDITURE
Services
Gas				5,023	4,180
Electricity				1,620	1,563
Water rates				1&988	1,918
Gardening —labour				3P19	4,375
Gardening - materials				(108)	262
TV1lcencc				10	40
				12432	12338
Management
Caretaking				3,613	3,430
Insurance				2,172	1,205
Sundry expenses				317	763
Managing agent				4 800	4 800
				10902	10198
Governance
Reporting accountants				1,740	1,656
Subscriptions				487	539
Website and vide meeting ocosts				327	456
Trustees' expenses
				2554	2 651
Maintenance and Replacements
Bailer servicing and gas mfety	checks				1,046
Premises repairs and maintenance				10,836	7,500
Window cleaning and pest control				234	2,514
Health and safety checks				861	847
Refurbishment cost-No. 723				7,267
Professional fees				5,433	2,620
Depreciation 8closs on disposal	- Equipment			891	478
				25 522	15005
Fundraisiag —Feeofexecutive	fundraiser			1,724	2,587
Fce—Garfield Weston grant				8,995
Charitable Reserve Expenses - Christmas			giga to residents	375	525
	Garden	Party		160	250
				11 54	3 362
OPERATING COSTS					43 554
SURPLUS —See Statement ofFinanolal		Aotivities —Page 7		473036	325 984

21. ANALYSIS OFA	SSETSBETWEE	N FUNDS A	T31DECEM	BER
		2022			2021
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
Assets				8		8
Tangible fixed Assebn
Preehold properly		811,529	811,529		99,546	99,546
Equipment	1,655		1,655	2,127		2,127
Fhed assets invesnnents	20/62	16,728	36,990	50,780	185,011	235,791
Debtors	29,847	425,000	454,847	28,995		28,995
Cash 32,452	32,452	85,950	118,402		513,781	513,781
Liabilities:
Creditors	11568	81022	92 590	14247		14247
	72 648	1258 185	I 327833	67655	798338	865,993

22, FINANCIAL INSTRUMENTS	22, FINANCIAL INSTRUMENTS	22, FINANCIAL INSTRUMENTS
At tho Balance Sheet date the Charity held			the following:	2022	2021
Financial Assets
Measured at cost:
Cash				118,402	513,781
Measured at amortised	cost:
Funds held by London	Block Management		Ltd	16,781	15,693
Maintenance Contributions		due		3,121	2&748
Other debtors				432,615	10,554
Measured at fiitr value:
Investments				36,990	235,791
Total Financial Assets				607909	778567
Financial liabilities
Measured at amortised	cost:
Expense Accruals				91,649	12,077
Maintenance Contributions		m advance		941	2,170
Total Financial Liabilities				~9a&90	54 47