FINANCE REPORT
From: Ali Akif, Finance Operations Manager Watford Community Housing Trust
To: The Trustees of David Salters Almshouses Trust
Date: 25[th] January 2022
1. Introduction:
-
1.1 This report hereby gives:
-
an overview of reporting requirements of the Charity Commission
-
the receipts and payments accounts for financial year ended 31 March 2021 and,
-
- a list of current trustees
2. Recommendations:
-
2.1 It is recommended that the Trustees:
-
note the report contained in this paper
-
approve the receipts and payments account for online filing with the Charity Commission
-
update the Charity Commission on changes to trusteeship
3.
Reporting Requirements of the Charity Commission
-
3.1 All registered charities are required by the Commission to prepare annual accounts. In addition to this, some charities (depending on their gross annual income) are required to prepare trustees’ annual reports. All annual accounts and trustees reports are required to be filed with the Commission within 10 months of the financial period end.
-
3.2 The Charities’ Statement of Recommended Practice (Charities SORP) provides recommendation for the format and contents of charity reports and accounts. Reporting thresholds are also set by the Commission.
-
3.3 Small non company charities with income of £100,000 or less can choose to prepare receipts and payments accounts (CC 16). The Trust is a small, non company charity. A Receipts and Payments Account has been prepared for 2020/21 financial year and is attached as Appendix A of this paper.
-
3.4 Charities with income more than £10,000 are required by law to complete an annual return of the financial reporting period. It is the responsibility of trustees to ensure the returns are completed on time and the Commission is advised of changes to trustees’ contact details and trusteeship. It is also recommended that a trustees’ meeting is held, to agree the accounts and annual report, prior to the submission of the accounts.
-
3.5 As the Trust’s gross income did not exceed £25,000 in the reporting financial year (i.e. 2020/21), the trustees are not required to have these accounts independently examined or audited, unless the governing documents of the Trust stipulates it.
4. Receipt and Payments accounts for 2020/21 financial year
-
4.1 Appendix A sets out the receipts and payments accounts for financial year commencing 1 April 2020 and ending 31 March 2021.
-
4.2 A profit of £7,503 was realized in the financial year. Receipts increased by £1,105. This is due to the addition of new tenants.
Payments went down by £9,073.00 compared with the previous financial year. The increase in spend in 2019/20 was due to having major repair works compared to last year plus payment to E&M for a transfer fee.
- 4.3 Watford Community Housing Trust will continue to provide book keeping services for the Trust, ensuring all receipts and payments are evidenced and duly accounted for.
5. List of Current Trustees
- 5.1 Below are the names of current trustees held by the Charity Commission. Any changes to this list will need to be agreed by active trustees / the Lead Individual.
Trustee 1 MRS ELIZABETH LINDSAY MORTIMER MRS E MORTIMER Date of Appointment: 12 March 2011
Trustee 2 MR BILL THOMAS MR BILL THOMAS Date of Appointment: 12 March 2011
Trustee 3 REV TOM KIRK REV TOM KIRK Date of Appointment: 21 January 2012
Trustee 4 MRS TRUDY RATOHWA MRS TRUDY RATOHWA Date of Appointment: 7 June 2015
Trustee 5 MRS ABIGAIL HAJDU MRS ABIGAIL HAJDU Date of appointment: 22 September 2016
Appendix A: Receipts and Payments Accounts
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Gerald F. Akohene 25/1/ 2022
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| 214795 DAVID SALTERS ALMSHOUSES Receipts andpayments accounts 01-Apr-20 31-Mar-21 To For the period from CC16a ~~ae~~ |
214795 DAVID SALTERS ALMSHOUSES Receipts andpayments accounts 01-Apr-20 31-Mar-21 To For the period from CC16a ~~ae~~ |
|---|---|
| Section A Receipts and payments | |
| Unrestricted funds Restricted funds Endowment funds Total funds Last year |
|
| to the nearest £ to the nearest £ to the nearest £ to the nearest £ to the nearest £ |
|
| A1 Receipts | |
| Maintenance receipts: Fisk House & HomeManor 25,095 - - 25,095 23,990 Bank interests received - - - - 13 Inter a/c transfer - - - - - WBC Refund 1,613 - - 1,613 - Sub total(Gross income for AR)26,708 - - 26,708 24,003 ~~== ===~~ |
|
| A2 Asset and investment sales, (see table). - - - - - - - - - Sub total - - - - - Total receipts 26,708 - - 26,708 24,003 ~~S555~~ |
|
| A3 Payments Cleaning 1,536 - - 1,536 1,672 Insurance 5,472 - - 5,472 5,484 Electricity 657 - - 657 667 WCHT Admin Fees for Housing20/21 4,320 - - 4,320 4,320 E&M Charges 2,811 - - 2,811 2,232 Watford Council Tax - - 2,512 Repairs &Maintenance 650 650 9,525 GAS - - 12 Probate Cost 2,145 2,145 - Transfer to current a/c - - 240 Sub total 17,592 - - 17,592 26,665 A4 Asset and investment purchases, (see table) - - - - - - - - Sub total - - - - - Total payments 17,592 - - 17,592 26,665 ~~essee~~ ~~S555~~ |
|
| Net of receipts/(payments) 9,115.95 0.00 0.00 9,115.95 (2,661.58) A5 Transfers between funds - - - - - A6 Cash funds last year end - - - - - Cash funds this year end 9,115.95 0.00 0.00 9,115.95 (2,661.58) ~~—=~~ |
|
| Signed by one or two trustees on behalf of all the trustees Date of approval Print Name Signature Gerald F. Akohene 25/1/2022 ~~pss— |
_ |
FINANCE REPORT
From: Ali Akif, Finance Operations Manager Watford Community Housing Trust
To: The Trustees of David Salters Almshouses Trust
Date: 25[th] January 2022
1. Introduction:
-
1.1 This report hereby gives:
-
an overview of reporting requirements of the Charity Commission
-
the receipts and payments accounts for financial year ended 31 March 2021 and,
-
- a list of current trustees
2. Recommendations:
-
2.1 It is recommended that the Trustees:
-
note the report contained in this paper
-
approve the receipts and payments account for online filing with the Charity Commission
-
update the Charity Commission on changes to trusteeship
3.
Reporting Requirements of the Charity Commission
-
3.1 All registered charities are required by the Commission to prepare annual accounts. In addition to this, some charities (depending on their gross annual income) are required to prepare trustees’ annual reports. All annual accounts and trustees reports are required to be filed with the Commission within 10 months of the financial period end.
-
3.2 The Charities’ Statement of Recommended Practice (Charities SORP) provides recommendation for the format and contents of charity reports and accounts. Reporting thresholds are also set by the Commission.
-
3.3 Small non company charities with income of £100,000 or less can choose to prepare receipts and payments accounts (CC 16). The Trust is a small, non company charity. A Receipts and Payments Account has been prepared for 2020/21 financial year and is attached as Appendix A of this paper.
-
3.4 Charities with income more than £10,000 are required by law to complete an annual return of the financial reporting period. It is the responsibility of trustees to ensure the returns are completed on time and the Commission is advised of changes to trustees’ contact details and trusteeship. It is also recommended that a trustees’ meeting is held, to agree the accounts and annual report, prior to the submission of the accounts.
-
3.5 As the Trust’s gross income did not exceed £25,000 in the reporting financial year (i.e. 2020/21), the trustees are not required to have these accounts independently examined or audited, unless the governing documents of the Trust stipulates it.
4. Receipt and Payments accounts for 2020/21 financial year
-
4.1 Appendix A sets out the receipts and payments accounts for financial year commencing 1 April 2020 and ending 31 March 2021.
-
4.2 A profit of £7,503 was realized in the financial year. Receipts increased by £1,105. This is due to the addition of new tenants.
Payments went down by £9,073.00 compared with the previous financial year. The increase in spend in 2019/20 was due to having major repair works compared to last year plus payment to E&M for a transfer fee.
- 4.3 Watford Community Housing Trust will continue to provide book keeping services for the Trust, ensuring all receipts and payments are evidenced and duly accounted for.
5. List of Current Trustees
- 5.1 Below are the names of current trustees held by the Charity Commission. Any changes to this list will need to be agreed by active trustees / the Lead Individual.
Trustee 1 MRS ELIZABETH LINDSAY MORTIMER MRS E MORTIMER Date of Appointment: 12 March 2011
Trustee 2 MR BILL THOMAS MR BILL THOMAS Date of Appointment: 12 March 2011
Trustee 3 REV TOM KIRK REV TOM KIRK Date of Appointment: 21 January 2012
Trustee 4 MRS TRUDY RATOHWA MRS TRUDY RATOHWA Date of Appointment: 7 June 2015
Trustee 5 MRS ABIGAIL HAJDU MRS ABIGAIL HAJDU Date of appointment: 22 September 2016
Appendix A: Receipts and Payments Accounts
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Gerald F. Akohene 25/1/ 2022
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