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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||
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||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|
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|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|
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|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|993|
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|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|
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|||||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|
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|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|
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|||||Notes|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|
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|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|
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|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|