THE LLIAm HOLMES ALMSHOUSES CHARrrY REGISTERED CHARrrY NO: 214712 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE WILUAM HOLMES ALMSHOUSES CHARrrY FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31- MARCH 2024 CONTENrs Page Annual Tnjstees. Rewrt ststement of Trustees, Responsibilities Accountants. Report Balan Sheet Notes to the Finanoal Ststements 8-11 Income and Expenditure Account 12
William Holmes Almshouses Association Trustees, Report April 2023 to March 2024 Backgmund infonnation.. Wlliam Holmes Amshouses. Nottingham Road, Ripley, Derbyshire, were built in 1926 using a bequest made by William Holmes. a provision merchant of Shidey Road, Ripley, who died in 1922, for the benefit of needy people who lived in the Ripley area. It is registered Charity. number 214712. The Almshouses comprise of six one•bedroom bungalows on the corner of Nottingham Road and Fletcher Street, Ripley, Derbyshire, DE5 3AS. The bungalows are large enough for Iwo people to live in comfortably, with a large kitchen. lounge and bedroom. They are kept to a high stsndard with any repairs done promptly. Al bungalows have a "Life Line" call system in case of emergencies. The properties were modernised in 1984-1985 new bathrooms and toilets Vre installed as was ntral heating. Front stonn porches Vre also added at that time. this obviously made the bungalows warmer. The bungalows were further improved in 2006 with the installation of double 9lazing on all windows and doors and the fasciae were also cladded. The Association has all of the gas appliances in the bungalows checked for safety annually. The checks are carried out by a 'Gas Safe" registered gas engineer. The electrics are also test every five years. wtth the most recent being conducted in 2023. In 2022 and 2023. damp proofing was inrtiated in two of the bungalows. vthich also enabled us to give a fresh lick of paint to the interior of the properties and new carpets. The Association is run by a voluntary Committee comprising five Trustees, two of whom are nominated by Ripley Town Council every four years, (although not necessarily Councillorsl. and three Cropted Trustees who are appointed on a five-yearfy basis.
The Cuent Trustees are: Ripley Town Council Nominees: Mr. lan Fisher Cllr Roland Emmas-williams Mrs. Lrz Bowley Mrs. Isobel Hary Mr. Mick Hooley CIFopted members: The day to day running of the Association is carried OLrt by a Clerk appointed by the Trustees.. The present Clerk is Hannah Curzon. Annual Report Apn'l 2023 to Alarch 2024." Over the past year, the Trustees have completed work on a further three bungalows to ensure they are rid of damp and renovated to a high standard to enable the health. safety. and comfort of our residents. The renovation of the final two bungalows will be completed in the summer of 2024. In early March 2024, we were successful in applying for a loan from the Amshouses Association, the payment of which will be received in the next financial year. This is to enable us to complete the ne$Sary works on the bungalows. The charity is in a very sound position financially and deals with any repairs or issues quickly and efficienuy. It is hoped that over the coming years, we will be able to increase our savings to enable us to wovide another bungalow in Ripley. The financial accounts arKI statements are checked for accuracy on a regular basis by the Chairman, lan Fisher, and the Annual Accounts are independently checked by Mabe Allen LLP, Chartered Accountants of 3 Derby Road, Ripley, Derbyshire. To the best of the Trustees, knowledge, all the statutory and legal requirements of Imlliam Holmes Almshouses Charity have bèen fUlled. By order of the Board of Trustses lan Fisher Chaim)an of the Board of Trustees June 2024
THE WILLIAM HOLMES ALMSHOUSES CHARrrY srATEMENT OF TRusfEES' RESPONSIBILrrIES Homes England and Qlarity legislation require the Trustees to prepare Financial Statements for each finanoal year which give a true and fair view of the stste of affairs of the Private Registered Provider of Social Housing and of the surplus or deficit for that period. In preparing these finanaal statements, the Trustee5 are required to: Select suitable accounting polioes and then appty them consistenuy; Make judgements and estimates that are reasonable and prudent. state whether applicable accounting tsndards have been followed, subjett to any material departures disdosed and explained in the finanoal statements; and Prepare the financial Statements on the going conrn basis unless it is inappropriate to presume that the Private Registered Provider of &xial Housing will continue in business. The Trustees are responsible for keeping proper accounting records which disc105e with reasonable accuracy at any time the finanaal position of the Private Registered Provider of Social Housing and enable tt to ensure that the financial ststements comply with the provisions within the Housing and Regeneration Art 2008 and the Accounting Direttion for Private Registered Providers of sxial Housing 2019. They have general responsibility for taknng reasonable steps to safeguard the assets of the Private Registered Provider of 5ooal Housing and to prevent and detect fraud and other irregularib'es.
Accountanvs Report to the Trust on the unaudited acrounts of The William Holmes Almshouses Charity We report on the accounts for the Year Ended 315t March 2024 set out on pages 6 to 12. Respective responsibilities of the Trustees and reporting accountant The Trustees of the Private Registered Provider of &xial Housing are responsible for the preparation of the accounts, and they consider that the Private Registered Provider of Social Housing is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion. Basis of Opinion Our work was condutted in accordan with the Ststement of Standards for Reporting Accountants and so our procedures consisted of comparing the accounts with the accounting records kept by the Private Registered Promder of Social Housing and making such limited enquiries of the Trustees of the Private Registered Provider of Social Housing a5 we considered necessary for the purFK)se of this repoFt These ProdureS provide the only assurance expressed in our opinion. Opinlon In our opinion: the Income and Expenditure Account and Balance Sh*t for Year Ended 31st March 2024 are in accordance the accounting records kept by the Private Registered Provider of Social Housing under sectton 135(2)(a) of the Housing and Regeneration Att 2(M)8; On the basis of the informab'on contained in the accounting records: The Income and Expendtture Account and Balance Sheet comply with the requirements of the Charities Art 2011. The Private Registered Provider of Social Housing has satisfied the conditions for exemption from an audit of the accounts for the Year Ended 31" March 2024 as 5fied in section 136(3) of the Housing and Regeneration Act 2008;
Accountanvs Report to the Trustees on the unaudited accounts of The William Holmes Almshouses Chaiity Continued... Opinion (continued} the accounts comply with the requirements of the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Provider5 of Social Housing 2019. Mabe Allen LLP Chartered Accountants 3, Derby Road Ripley Derbyshi DE5 3EA Date.... 1.6.., Id): 2d)2
THE WILUAM HOLMES ALMSHOUSES CHARrrY BALANCE SHEEf AT 31W MARCH 2024 2023 41,002 Freehold Housing, Land and Buildings (8) 41,2 FIXED ASSEf INVESTMEKrs M & G Investments 97,030 141890 CURRENT ASSErs Debtors Payments in advance Investments - red*mable within one year: National Saving5 - Investment Account Cash at Bank - HSBC Community Wc - HSBC Money Manager Wc 94 274 562 7,766 33,831 807 4,746 995 Creditors: Amounts falling due within one year: 3,306 Accruals Other creditor Income rereived in advan 3,212 762 NEf CURRENT ASSErs TOTAL ASSEfs LESS CURRENT LIABILMES CAprrAL AND RESERVES 98,823 Designated ReseNes Income and Expenditure Account (9) 53,256 187 679
THE LuAm HOLMES ALMSHOUSES CHARrrY BALANCE SHEEf AT 31ST MARCH 2024 (CONTINUED) The Trustees are satisfied that the Charity was entitled to exemption under Section 136(3) of the Housing and Regeneration Act 2008 and that neither the Trustees nor the Homes & C(Knmunities Agency have required an audit in accordan with the ACL The Trustee5 acknowledge their responsibilities for: ensuring that the Charity keeps accounting records in accordan wth Social Housing and Charity legislation; and preparing accounts which give a true and fair view of the stste of affairs of the Private Registered Provider of SLKial Housing as at the end of the finanaal year and of its surplus or defiat for the finanaal year in accordan with the requirements of this Act rdating to accounts, so ftr as applicable to the Private Registered Provider. The financial statements have b&n prepared in accordantt wtth the requirements of section 135 of the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing 2019. These finandal statements were approved and authorised for issue by the Trustees on.. On behalf of the Board of Trustees Chairnian of the Trustees
THE WILLIAM HOLMES ALMSHOUSES CHARITY NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 i) PRINCIPAL ACCOUNTING POUCIES The Finanaal Ststements have been prepared in accordan with applicable Accounting Standards in the United Kingdom including the Ststement of Recommended praCkn. The accounting policies of the charity are Set out below: Basis of Accountin The Financial SLitements are prepared on the historical cost basis of accounting. Turnover represents social housing income recelvable from tenants. Housin Pro The William Holmes Almshouses were construrted in the mid 1920's and the original c05t 15 shown under Freehold Housing. Further costs relate to improvements CB led out since 1984185 which were funded by a Housing Corporation Grant; a mortgage loan from Amber Valley Borough Council, by a charge on housing, land and buildings and from the Amshouse5 own resour5. As the properties are maintsined in a stste of repair such that their estimated residual value 15 not less than their improvement cost or carrying amount, the annual charge for depreciation would be Nil. Housin Association Grant: Housing Association Grant (HAG) is paid by the Housing Corporation to reduce the c05t of development and is, therefore, shown a5 a deduction from the cost of Housing Properties on the Balance Sheet. HAG is payable under rtain ciroJMstan, primarily following the sale of a property but will normally be restricted to net pred5 of sale. Other rants receiv Grants received relating to revenue expendthre are credited to the Income & Expenditure Account in the year when such monies are reived. Grants received relating to capital items are credited to the balance sheet in the year of receipt against the applicable asset. clical Re airs and Maintenance: The Charity has established a regular programme of cydical repair5 and maintenance. Costs are tharged to the Income & Expenditure Account in the year in which they are incurred. Extraordina Re Costs of Extraordinary Repairs, unless representing improvements to the properties, are charged to the Income & Expenditure Account in the year in whith they are incurred. clical Re airs and maintenan Reserv This reserve represents amounts set aside for rydical maintenance costs in excess of budgeted expenditu for any year. Extraordina Re irs ReseNe: This Revenue Reserve represents amounts set aside to carry out major repairs on the charivs soaal housing properties. b) d) g) h)
THE LLIAm HOLMES ALMSHOUSES CHARrrY NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31sf MARCH 2024 PRINCIPAL ACCOUNTING POLICIES (coKfINUED) i) aritable Fund Pro Reserve: This represents that proportion of the cost of properties which was financed by charitsble donations and the tharitys own reSoUrs. The charitsble Fund Property Re also indudes depreaation equal to loan payments provided in previous years. Value Added Tax: The Charity is not registered for Value Added Tax. In these Financial Statements, where applicable, expenditure is shown indusive of VAT. Cash Flow Statement: Under applicable accounting stsndards. the arity is not required to produce a Cash How Statement. Fixed Asset Investments: Investments have bn valued at market pri5 at 31 March 2024. Account IS taken of unreali5ed gains and losse5 in the Income and Expenditure Account. Investment Income: Investrnent income is rectrJnised when such irtconE 15 received. k) SOCIAL HOUSING OPERATING COSTS 2023 2024 Housing Accommodati¢)n (6 units) 113 servIs 5,Hl - Management 27 230 - Routs'ne Maintenan 1,578 6,431 SERVICES 113 Communication System Water Rates Electricity 299 113 MANAGEMENT 2,087 Secretarfs Honorarium 883 Insurance 1,740 Accountancy 486 Subscriptions & similar fees 184 Sundry expense5 61 Bank charges 2,672 I,ioi 1,764 396 438 60
THE LLIAm HOLMES ALMSHOUSES CHARrrY NOTES TO THE FINANCIAL sfATEMEwfs (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 2023 2024 ROLwfINE MAINTENANCE 3,648 Day to Day Maintenan 19,003 Cyclical Repairs g Miscellaneous expenditure regarding No. 6 3,186 63,770 INTEREsf RECEIVED AND SIMILAR INCOME 30 Bank Deposit Accounts 7 National Savings Bank Investment Account 3 616 M & G dividend income 58 41 TAXATION The William Holmes Amshouses is a Registered Charity and is therefore exempt from liability to tsxation on its income and capital gains. FREEHOLD SOCIAL HOUSING LAND AND BUILDINGS At Cost: 3,030 6 Houses, Notbngham Road, tlpley 17,894 Improvements- 1984 80,986 Improvements- 1985 22,168 Completion - 1990 6,672 Improvements - 1994 9 Improvements - 1996 134,849 107 657 27,192 21,440 Improvements 21 (19,696) Less: Housing Association Grant 3 000 Improvements- 2006 31,936 6,086 Improvements- 2007 2 980 Improvements - 2021 3,030 17,894 80,986 22, 168 6,672 134,849 107 657 27,192 21,440 (19,696) Less: Housing Association Grant 31,936 6,086 1980 -io-
THE WILLIAM HOLMES ALMSHOUSES CHARrrY NOTES TO THE FINANCIAL sfATEMENTS (COPITINUED) FOR THE YEAR ENDED 31- MARCH 2024 DESIGNATED RESERVES Extraordinary Cydical Repairs Charitsble Financial Repair5 & Maintenance ftjnd Property Hardship Reserve ReseNe ReseNe Reserve Totsl Balae 1.4.2023 98,823 7.766 52,938 37,119 1,000 Transfers (to)lfrom Inc(xne and Expendtture Account: (63,771) Costs incurred Provisioninyear 25163 Balance 31.3.2024 14 (63,771) 10. ACCOMMODATION IN MANAGEMErir The number of units of social housing accommodation managed by the Charity as at 31 March 2024 amounted to six (2023: six). 11. MATERIAL INTEREsf OF TRUSTEES There were no contracts during, or at the year end, in which a Trustee was, or is, materially interested. (2023: None) -li-
THE WILUAM HOLMES ALMSHOUSES CHARrrY INCOME AND EXPENDrruRE ACCOUNT YEAR ENDED 31ST MARCH 2024 Turnover Operatlng Costs Notes INCOME AND EXPENDMIRE FROM LErriNGS Social housing lettings (Ib) 22,228 74,965 OTHER INCOME AND EXPENDMIRE Interest received and similar income Other income: Profit on sale of investments (6) 4,257 265 DEFIcrr BEFORE TAXATION (48,215) Taxation (7) Unrealised Profit on investrnent TOTAL DEFIcrr AFTER TAXATION FOR THE PERIOD OF ACCOUNT MOVEMENT ON RESERVES Balan brought forward 1st April 2023 88,856 Deficit for the year (46,497) Transfers (to) l from: Cyclical Repairs and maintenan Reserve Utilised Transfer to Cyclical Repairs and maintenan Provision Transfer to Financial Hardship Re*rve Extraordinary Repairs Reserve Charitable Fund Property Reserve 63,771 (25,163) 6,959 -12-