| Page | ||||
|---|---|---|---|---|
| Reference and Administrative Details |
||||
| Report ofthe Trustees | 2 | to | 4 | |
| Independent Examiner's Report |
||||
| Statement ofFinancial | Activities | |||
| Balance Sheet | ||||
| Notes to the Finandal | Statements | 8 | to | 17 |
| PRINCIPAL ADDRESS | The Almshouses |
|---|---|
| Lower Gungate | |
| Tamworth | |
| Staffordshire | |
| B797AN | |
| REGISTERED CHARITY | 214737 |
| NUMBER |
| INDEPENDENT | EXAMINER | Philip Bames &Co Limited |
|---|---|---|
| Chartered Accountants |
||
| The Old Council Chambers | ||
| Halford Street | ||
| Tamworth | ||
| Staffordshire | ||
| B797RB |
| FOR TH | E YEAR EN | DED 31 | DE EM | BER2022 | ||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| Unrestricted | Restricted | Endowment | Total | Total | ||||
| funds | fund | fund | funds | funds | ||||
| Notes | ||||||||
| INCOME | AND | |||||||
| ENDOWMENTS FROM | ||||||||
| Donations | and legacies | 3 | 2,827 | |||||
| Charitable | activities | 5 | ||||||
| Residential | accommodation | 160,794 | 160,794 | 159,509 | ||||
| Investment | income | 15,594 | 1,215 | 16,809 | 13,931 | |||
| Other income | 7,781 | 7,781 | 4,602 | |||||
| Total | 184,169 | 1,215 | 185,384 | 180,869 | ||||
| EXPENDITURE ON | ||||||||
| Charitable | activities | 7 | ||||||
| Residential | accommodation | 170,978 | 170,978 | 126,783 | ||||
| Payments | for benefit ofresidents | 2,020 | 2,020 | 1,681 | ||||
| Total | 170,978 | 2,020 | 172,998 | 128,464 | ||||
| Net gains/(losses) on |
||||||||
| investments | (5,173) | (986) | (5,813) | (11,972) | 31,742 | |||
| NET | ||||||||
| INCOME/(EXPENDITURE) | 8,018 | (1,791) | (5,813) | 414 | 84,147 | |||
| RECONCILIATION | OF | |||||||
| FUNDS | ||||||||
| Total funds | brought forward |
1,183,467 | 32,305 | 186,563 | 1,402,335 | 1,318,188 | ||
| TOTAL FUNDS CARRIED | ||||||||
| FORWARD | 1,191,485 | 30,514 | 180,750 | 1,402,749 | 1,402,335 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Notes | ||||||
| FIXEDASSETS | ||||||
| Tangible assets | 12 | 509,334 | 509,334 | |||
| Investments | 13 | 372,266 | 384,238 | |||
| 881,600 | 893,572 | |||||
| CURRENT ASSETS | ||||||
| Debtors | 14 | 13,451 | 15,865 | |||
| Cash at bank | 519,086 | 503,025 | ||||
| 532,537 | 518,890 | |||||
| CREDITORS | ||||||
| Amounts falling |
due within one year | 15 | (11,388) | (10,127) | ||
| NET CURRENT | ASSETS | 521,149 | 508,763 | |||
| TOTAL ASSETSLESSCURRENT | ||||||
| LIABILITIES | 1,402,749 | 1,402,335 | ||||
| NET ASSETS | 1,402,749 | 1,402,335 | ||||
| FUNDS | 17 | |||||
| Unrestricted funds: |
||||||
| General fund | 302,151 | 334,133 | ||||
| Capital fund | 509,334 | 509,334 | ||||
| Repair reserve | fund | 120,000 | 110,000 | |||
| Extraordinary | repair fund | 200,000 | 180,000 | |||
| Cyclical maintenance | fund | 60,000 | 50,000 | |||
| 1,191,485 | 1,183,467 | |||||
| Restricted funds: | ||||||
| Elsie Westwood | fund | 30,514 | 32,305 | |||
| Endowment funds: |
||||||
| Permanent endowment |
fund | 180,750 | 186,563 | |||
| TOTAL FUNDS | 1,402,749 | 1.402,335 |
| 3. | DONATIONS | AND LEGACIES | |||
| 2022 | 2021 | ||||
| g | |||||
| Guy's Hospital | 2,827 | ||||
| 4. | INVESTMENT INCOME | ||||
| 2022 | 2021 | ||||
| NAA Common | Investment | Fund dividend | 14,754 | 13,911 | |
| COIF deposit interest | 2,055 | 20 | |||
| 16,809 | 13,931 | ||||
| 5. | INCOME FROM CHARITABLE ACTIVITIES | ||||
| 2022 | 2021 | ||||
| g | |||||
| Residents contributions | 125,512 | 125,207 | |||
| Facilities | 35,282 | 34,302 | |||
| 160,794 | 159,509 |
| 6. | OTHER INCOME | ||
|---|---|---|---|
| 2022 | 2021f | ||
| Solar panel feed in tariff | 7,781 | 4602 | |
| 7. | CHARITABLE ACTIVITIES COSTS |
| 7. | CHARIT | A | BLE ACTIVITIES COSTS | |||
|---|---|---|---|---|---|---|
| Direct | Support | |||||
| Costs | costs | |||||
| (see note 8) | (see note 9) | Totals | ||||
| Residential | accommodation | 45,720 | 125,258 | 170,978 | ||
| Payments | for benefit ofresidents | 2,020 | 2,020 | |||
| 45,720 | 127,278 | 172,998 | ||||
| 8. | DIRECT | COSTSOF CHARITABLE ACTIVITIES | ||||
| 2022 | 2021 | |||||
| Water rates | and council tax | 8,721 | 8,197 | |||
| Insurance | 4,586 | 3.845 | ||||
| Gas and electricity | 24,856 | 28,354 | ||||
| Lifeline | ~7557 | 7,386 | ||||
| 45,720 | 47,782 |
| SUPPOR | T COSTS | |||||||
|---|---|---|---|---|---|---|---|---|
| Repairs | ||||||||
| and | Residents | Governance | ||||||
| Management | Maintenance f |
Welfare | costs | Totals | ||||
| Residential | accommodation | 33,254 | 86,004 | 6,000 | 125,258 | |||
| Payments | for benefit | of | ||||||
| residents | 2.020 | 2,020 | ||||||
| 33,254 | 86,004 | ~2020 | 6,000 | 127,278 | ||||
| Support costs, included | in the above, are as follows: | |||||||
| Management | ||||||||
| 2022 | 2021 | |||||||
| Wages | 24,884 | 24,222 | ||||||
| Pensions | 372 | 352 | ||||||
| Telephone | 477 | 662 | ||||||
| Stationery, | postage's | and sundries | 1,541 | 718 | ||||
| Subscriptions | 379 | 305 | ||||||
| Bad debt | 5,601 | 1,000 | ||||||
| 33,254 | 27,259 |
| Repairs and | maintenaace | maintenaace | |||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Wages | 28,082 | 25,092 | |||
| General repairs and maintenance | 51,463 | 18,478 | |||
| Garden expenses | 6,459 | 1,723 | |||
| Cookers | 1,349 | ||||
| 86,004 | 46,642 | ||||
| Residents welfare |
|||||
| 2022 | 2021 | ||||
| Residents social events | 1,885 | 1,576 | |||
| Miscellaneous | expenses | 135 | 105 | ||
| 2,020 | 1,681 | ||||
| Governance | costs | ||||
| 2022 | 2021 | ||||
| I', | |||||
| Accountancy | and independent | examination | 4,200 | 4,200 | |
| Independent examiners |
-other | services | 1,800 | ||
| Professional | fees | 900 | |||
| 6,000 | 5,100 |
| RITY FTHOMA |
Y | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| OTE T THEFI AN |
IAL | TATEM | 'nued | |||||||||||||
| FOR | THE YEARE DED | 31DE | EMBER2 | 22 | ||||||||||||
| 11. | STAFF COSTS | |||||||||||||||
| 2022 | 2021 | |||||||||||||||
| g | ||||||||||||||||
| Wages and salaries | 52,966 | 49,314 | ||||||||||||||
| Other pension costs | 372 | 352 | ||||||||||||||
| 53,338 | 49,666 | |||||||||||||||
| The average monthly | number | ofemployees | during | the | year was as follows: | |||||||||||
| 2022 | 2021 | |||||||||||||||
| Average number ofstaff during | the year | 4 | 4 | |||||||||||||
| Average number offull-time |
equivalent | 2 | 2 | |||||||||||||
| No employees received emoluments in |
excess off60,000. | |||||||||||||||
| 12. | TANGIBLE FIXED | ASSETS | ||||||||||||||
| Freehold Property | ||||||||||||||||
| 2022 | 2021 | |||||||||||||||
| Almshouses, Tamworth |
not valued | not valued | ||||||||||||||
| A value has never been attributed | to the original | almshouses. | These almshouses | are used by | the charity for | the | ||||||||||
| provision of accommodation |
to | the | elderly. | The | trustees | do not consider | it practicable | to quantify | the | |||||||
| difference between the carrying |
value | and | market | value. | ||||||||||||
| Additions and improvements |
||||||||||||||||
| 2022 | 2021 | |||||||||||||||
| COST | ||||||||||||||||
| At 1 January | 509,334 | 509,334 | ||||||||||||||
| NET BOOK VALUE | ||||||||||||||||
| At 31December | 509,334 | 509,334 | ||||||||||||||
| 13. | FIXEDASSETINVESTMENTS | |||||||||||||||
| Investments are held as follows: |
||||||||||||||||
| National Association |
ofAlmshouses | Common Investment | Fund | |||||||||||||
| 2022 | 2021 | |||||||||||||||
| Number | Number | |||||||||||||||
| Income shares | ||||||||||||||||
| -number ofshares held | 421,545 | 421,545 |
| Market value ofthese shares split between | funds: | |||
|---|---|---|---|---|
| Elsie | Permanent | |||
| General | Westwood | Endowment | Total | |
| Market value at 1 January 2022 | 166,026 | 31,649 | 186,563 | 384,238 |
| Movement in market value |
(5,173) | (986) | (5,813) | 11,972 |
| Market value at 31December 2022 | 160,853 | 30,663 | 180,750 | 372,266 |
| DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2022 | 2021 | |||
| Residents contributions |
1,662 | 7,005 | ||
| Social security and other taxes | 330 | 1,170 | ||
| Prepayments and accrued income |
11,459 | 7,690 | ||
| 13,451 | 15,865 |
| CREDITORS: AMOUNTS FALLING DUE WIT | HIN ONE YEAR | |
|---|---|---|
| 2022 | 2021 | |
| Other creditors | 1,962 | 355 |
| Accrued expenses | 9,426 | 9,772 |
| 11,388 | 10,127 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Total | ||
| funds | fund | fund | funds | funds | ||
| g | ||||||
| Fixed assets | 509,334 | 509,334 | 509,334 | |||
| Investments | 160,853 | 30,663 | 180,750 | 372,266 | 384,238 | |
| Current Current |
assets liabilities |
532,446 ~)),)48) |
91 ~340) |
532,537 ~)).388) |
518,890 (10,127) |
|
| 1.191.483 | 30,314 | 180,750 | 1,402,749 | 1,402,335 |
| MOVEMENT IN F | UNDS | ||||
|---|---|---|---|---|---|
| Net | Transfers | ||||
| movement | between | At | |||
| At 1.1.22 | in funds | funds | 31.12.22 | ||
| Unrestricted funds |
|||||
| General fund | 334,133 | 94,022 | (126,004) | 302,151 | |
| Capital fund | 509,334 | 509,334 | |||
| Repair reserve fund | 110,000 | (46,902) | 56,902 | 120,000 | |
| Extraordinary repair fund Cyclical maintenance fund |
180,000 50,000 |
~39.302 | 20,000 49,102 |
200,000 60,000 |
|
| 1,183,467 | 8,018 | 1,191,485 | |||
| Restricted funds | |||||
| Elsie Westwood fund |
32,305 | (1,791) | 30,514 | ||
| Endowment funds |
|||||
| Permanent endowment |
fund | 186,563 | (5,813) | 180,750 | |
| TOTAL FUNDS | 1.402.333 | 414 | 1,402,749 | ||
| Net movement in funds, included |
in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement | ||
| resources | expended | losses | in funds | ||
| 8 | |||||
| Unrestricted funds |
|||||
| General fund | 184,169 | (84,974) | (5,173) | 94,022 | |
| Repair reserve fund | (46,902) | (46,902) | |||
| Cyclical maintenance | fund | ~39,102) | ~39 102 | ||
| 184,169 | (170,978) | (5,173) | 8,018 | ||
| Restricted funds | |||||
| Elsie Westwood fund |
1,215 | (2,020) | (986) | (1,791) | |
| Endowment funds |
|||||
| Permanent endowment |
fund | (5,813) | (5,813) | ||
| TOTALFUNDS | 185.384 | (172,998) | ~11,972) | 414 |
| Net | Transfers | ||||
|---|---|---|---|---|---|
| movement | between | At | |||
| At 1.1.21 | in funds | funds | 31.12.21 | ||
| Unrestricted funds |
|||||
| General fund | 297,477 | 113,298 | (76,642) | 334,133 | |
| Capital fund | 509,334 | 509,334 | |||
| Repair reserve fund | 80,000 | (34,326) | 64,326 | 110,000 | |
| Extraordinary repair fund Cyclical maintenance fund |
180,000 50,000 |
(2.988) ~3.3283 |
2,988 9,328 |
180,000 50,000 |
|
| 1,116,811 | 66,656 | 1,183,467 | |||
| Restricted funds | |||||
| Elsie Westwood fund |
30,226 | 2,079 | 32,305 | ||
| Endowment funds |
|||||
| Permanent endowment |
fund | 171,151 | 15,412 | 186,563 | |
| TOTAL FUNDS | 1,318,188 | 84,147 | ~ | 1,482,333 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources | expended | losses | in funds | ||
| Unrestricted funds |
|||||
| General fund | 179,723 | (80,141) | 13,716 | 113,298 | |
| Repair reserve fund | (34,326) | (34,326) | |||
| Extraordinary repair fund Cyclical maintenance fund |
(2,988) (9,328) |
(2,988) ~9,328) |
|||
| 179,723 | (126,783) | 13,716 | 66,656 | ||
| Restricted funds | |||||
| Elsie Westwood fund |
1,146 | (1,681) | 2,614 | 2,079 | |
| Endowment funds |
|||||
| Permanent endowment |
fund | 15,412 | 15,412 | ||
| TOTAL FUNDS | 180,869 | ~)28,464) | 31,742 | 84,147 |
| Net | Transfers | ||||
|---|---|---|---|---|---|
| movement | between | At | |||
| At 1.1.21 | in funds | funds | 31.12.22 | ||
| Unrestricted funds |
|||||
| General fund | 297,477 | 207,320 | (202,646) | 302,151 | |
| Capital fund | 509,334 | 509,334 | |||
| Repair reserve fund | 80,000 | (81,228) | 121,228 | 120,000 | |
| Extraordinary repair fund Cyclical maintenance fund |
180,000 50,000 |
(2,988) ~48.4383 |
22,988 58,430 |
200,000 60,000 |
|
| 1,116,811 | 74,674 | 1,191,485 | |||
| Restricted funds | |||||
| Elsie Westwood fund |
30,226 | 288 | 30,514 | ||
| Endowment funds |
|||||
| Permanent endowment |
fund | 171,151 | 9,599 | 180,750 | |
| TOTAL FUNDS | 1,318,188 | 84,561 | 1,402,749 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources | expended | losses | in funds | ||
| Unrestricted funds |
|||||
| General fund | 363,892 | (165,115) | 8,543 | 207,320 | |
| Repair reserve fund | (81,228) | (81,228) | |||
| Extraordinary repair fund |
(2,988) | (2,988) | |||
| Cyclical maintenance | fund | ~48,430) | ~48,430) | ||
| 363,892 | (297,761) | 8,543 | 74,674 | ||
| Restricted funds | |||||
| Elsie Westwood fund |
2,361 | (3,701) | 1,628 | 288 | |
| Endowment funds |
|||||
| Permanent endowment |
fund | 9,599 | 9,599 | ||
| TOTAL FUNDS | 366,253 | (301,462) | 19,770 | 84,561 |