2021-12-31-accounts - Alvechurch Almshouse Charity

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REGISTERED CHARITY NUMBER: 214948

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Alvechurch Almshouse Charity

Attwoods Chartered Certified Accountants 182 Worcester Road Bromsgrove Worcestershire B61 7AZ

Alvechurch Almshouse Charity

Contents of the Financial Statements for the Year Ended 31 December 2021

		Page
Reference and Administrative Details		1
Report of the Trustees		2
Independent Examiner's Report		3
Statement of Financial Activities		4
Balance Sheet		5
Notes to the Financial Statements	6	to	12
Detailed Statement of Financial Activities		13

Alvechurch Almshouse Charity

Reference and Administrative Details for the Year Ended 31 December 2021

TRUSTEES	Mrs A Humphries Chair
	Mr T Thurrell
	Mr M Worrall
	Mr D Thomas
	Mr J Curtis
	Ms L R Helmore (appointed 16.3.21)
	Ms L Lawson (resigned 18.5.21)
PRINCIPAL ADDRESS	20 Willowbrook Road
	Alvechurch
	Worcestershire
	B48 7PZ
REGISTERED CHARITY	214948
NUMBER
INDEPENDENT EXAMINER	Attwoods
	Chartered Certified Accountants
	182 Worcester Road
	Bromsgrove
	Worcestershire
	B61 7AZ
BANKERS	Santander UK Plc
	Bridle Road
	Bootle
	Merseyside
	L30 4GB
CLERK TO THE TRUSTEES	Mrs S Moxon
	20 Willowbrook Road
	Alvechurch
	Worcestershire
	B48 7PZ

Page 1

Alvechurch Almshouse Charity

Report of the Trustees for the Year Ended 31 December 2021

The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Charity is constituted by Trust Deed and its objectives in the year were that of maintaining and servicing the almshouse properties on behalf of the residents. In order to do this the Charity collects contributions from the residents as agreed by the Trustees to be reviewed annually. This was set at £70 per week for the year.

The policy of the Charity remains to provide for all repairs and services to the almshouse at a fair and affordable fee. The Trustees delegate the day to day responsibility for the collection of contributions and payment of bills to the Treasurer.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The Trustees consider that the performance of the Charity this year has been satisfactory and confirm that assets are available and adequate to fulfil the obligations of the Charity.

FINANCIAL REVIEW

Financial position

The results for the year and the financial position of the Charity are as shown in the annexed financial statements. Funds are available to allow the Charity to continue in operation.

Reserves policy

The policy of the Charity is to hold accumulated funds to provide capital for investment, which will in turn provide income to meet costs as they arise. The Charity tries to maintain a breakeven situation annually, as directed by the Charity Commission.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Trustees

The Trustees during the year under review are as detailed on page 1. Appointment of Trustees is governed by a Charity Commission Scheme dated 18 September 1984. The Board of Trustees is authorised to appoint co-optative Trustees and arrange for nominations from the Parish Council for nominative Trustees. The Trustees delegate the day to day running of the Charity to the Hon. Treasurer and the Clerk to the Trustees. Major items are referred to the Trustees.

Risk management

The Trustees examine the major risks that the Charity faces when preparing and updating the annual budgets. The Charity has developed systems to monitor and control these risks to mitigate any impact that they may have on the Charity's future.

Independent examiner

The independent examiner, Attwoods, will be proposed for re-appointment in accordance with the rules of the Charity.

Approved by order of the board of trustees on 20 September 2022 and signed on its behalf by:

Mrs A Humphries - Trustee

Page 2

Independent Examiner's Report to the Trustees of Alvechurch Almshouse Charity

Independent examiner's report to the trustees of Alvechurch Almshouse Charity

I report to the charity trustees on my examination of the accounts of Alvechurch Almshouse Charity (the Trust) for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Ben Newbury FCCA Attwoods Chartered Certified Accountants 182 Worcester Road Bromsgrove Worcestershire B61 7AZ

5 October 2022

Page 3

Alvechurch Almshouse Charity

Statement of Financial Activities

for the Year Ended 31 December 2021

				31.12.21	31.12.20
		Unrestricted	Restricted	Total	Total
		fund	funds	funds	funds
	Notes	£	£	£	£
INCOME AND ENDOWMENTS FROM
Other trading activities	2	35,998	7,351	43,349	42,607
Investment income	3	754	6,899	7,653	9,442
Total		36,752	14,250	51,002	52,049
EXPENDITURE ON
Charitable activities
General activities		25,923	7,962	33,885	30,247
Net gains/(losses) on investments		24,323	-	24,323	(13,761)
NET INCOME		35,152	6,288	41,440	8,041
RECONCILIATION OF FUNDS
Total funds brought forward		105,869	210,049	315,918	307,877
TOTAL FUNDS CARRIED FORWARD		141,021	216,337	357,358	315,918

The notes form part of these financial statements

Page 4

Alvechurch Almshouse Charity

Balance Sheet

31 December 2021

Unrestricted Restricted fund funds Notes £ £ FIXED ASSETS Tangible assets 6 55,680 - Investments 7 109,167 157,064 164,847 157,064 CURRENT ASSETS Debtors 8 1,002 - Cash at bank 12,122 59,978 13,124 59,978 CREDITORS Amounts falling due within one year 9 (1,858) (705) NET CURRENT ASSETS 11,266 59,273 TOTAL ASSETS LESS CURRENT LIABILITIES 176,113 216,337 CREDITORS Amounts falling due after more than one year 10 (35,092) - NET ASSETS 141,021 216,337 FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS	31.12.21 Total funds £ 55,680 266,231 321,911 1,002 72,100 73,102 (2,563) 70,539 392,450 (35,092) 357,358 141,021 216,337 357,358	31.12.20 Total funds £ 55,880 235,012 290,892 1,664 62,904 64,568 (3,365) 61,203 352,095 (36,177) 315,918 105,869 210,049 315,918

The financial statements were approved by the Board of Trustees and authorised for issue on 20 September 2022 and were signed on its behalf by:

Mrs A Humphries - Trustee

Mr T Thurrell - Trustee

The notes form part of these financial statements

Page 5

Alvechurch Almshouse Charity

Notes to the Financial Statements for the Year Ended 31 December 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - in accordance with the property

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Cyclical repairs and maintenance

The Charity has established a regular programme of cyclical repairs and maintenance. Costs are charged to the income and expenditure account in the year in which they are incurred.

Extraordinary repairs

Costs of extraordinary repairs are charged to the income and expenditure account in the year in which they are incurred.

Heat and light

Costs are recharged at a standard rate to all residents, irrespective of usage, which are recognised in the income and expenditure account in the year in which they are incurred.

Investments

Investments are included at closing market value at the balance sheet date. Net gains/(losses) on investments are the aggregate of realised and unrealised amounts and are stated in the Statement of Financial Activities.

Page 6

continued...

Alvechurch Almshouse Charity

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

2. OTHER TRADING ACTIVITIES

2.	OTHER TRADING ACTIVITIES
		31.12.21	31.12.20
		£	£
	Maintenance contributions	43,349	42,607
3.	INVESTMENT INCOME
		31.12.21	31.12.20
		£	£
	Other fixed asset invest - FII	7,647	9,151
	Deposit account interest	6	88
	Sundry income	-	203
		7,653	9,442

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted fund £ INCOME AND ENDOWMENTS FROM Other trading activities 35,381 Investment income 993 Total 36,374 EXPENDITURE ON Charitable activities General activities 22,139 Net gains/(losses) on investments (13,761) NET INCOME 474 Transfers between funds (13,390) Net movement in funds (12,916) RECONCILIATION OF FUNDS Total funds brought forward 118,785 TOTAL FUNDS CARRIED FORWARD 105,869	Restricted funds £ 7,226 8,449 15,675 8,108 - 7,567 13,390 20,957 189,092 210,049	Total funds £ 42,607 9,442 52,049 30,247 (13,761) 8,041 - 8,041 307,877 315,918

continued...

Page 7

Alvechurch Almshouse Charity

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

6. TANGIBLE FIXED ASSETS

	Freehold
	property
	£
COST
At 1 January 2021 and 31 December 2021	60,080
DEPRECIATION
At 1 January 2021	4,200
Charge for year	200
At 31 December 2021	4,400
NET BOOK VALUE
At 31 December 2021	55,680
At 31 December 2020	55,880

Included in cost or valuation of land and buildings is freehold land of £20,000 (2020 - £20,000) which is not depreciated.

The title to the freehold land is vested in the Official Custodian for Charities and relates to an area of 1 acre, 2 rods and 5 perches. The housing property relates to 10 almshouse dwellings in Station Road, Alvechurch. The buildings and sundry contents owned by the Charity are valued for insurance purposes at £1,000,000.

7. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
	Listed
	investments
	£
MARKET VALUE
At 1 January 2021	235,012
Additions	6,896
Revaluations	24,323
At 31 December 2021	266,231
NET BOOK VALUE
At 31 December 2021	266,231
At 31 December 2020	235,012
There were no investment assets outside the UK.

Cost or valuation at 31 December 2021 is represented by:

		Listed
		investments
		£
Valuation in	2020	(13,761)
Valuation in	2021	24,323
Cost		255,669
		266,231

continued...

Page 8

Alvechurch Almshouse Charity

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

8.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.12.21	31.12.20
		£	£
	Prepayments	1,002	1,664
9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.12.21	31.12.20
		£	£
	Bank loans and overdrafts (see note 11)	543	-
	Trade creditors	916	400
	Accrued expenses	1,104	2,965
		2,563	3,365
10.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		31.12.21	31.12.20
		£	£
	Bank loans (see note 11)	35,092	36,177
11.	LOANS
	An analysis of the maturity of loans is given below:
		31.12.21	31.12.20
		£	£
	Amounts falling due within one year on demand:
	Housing Association loan	543	-
	Amounts falling between one and two years:
	Housing Association loan - 1-5 years	2,172	-
	Amounts falling due in more than five years:
	Repayable by instalments:
	Housing Association loan over 5 years	32,920	36,177
12.	SECURED DEBTS
	The following secured debts are included within creditors:
		31.12.21	31.12.20
		£	£
	Bank loans	35,635	36,177
	The loan is secured by a first charge on certain freehold properties.

continued...

Page 9

Alvechurch Almshouse Charity

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

13. MOVEMENT IN FUNDS

Unrestricted funds General fund Restricted funds Extraordinary repair fund Cyclical repairs and maintenance fund Heating and lighting fund TOTAL FUNDS Net movement in funds, included in the above are as Unrestricted funds General fund Restricted funds Extraordinary repair fund Cyclical repairs and maintenance fund Heating and lighting fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Extraordinary repair fund Cyclical repairs and maintenance fund Heating and lighting fund TOTAL FUNDS	follows: Incoming resources £ 36,752 6,896 3 7,351 14,250 51,002 At 1.1.20 £ 118,785 136,673 49,278 3,141 189,092 307,877	At 1.1.21 £ 105,869 150,168 57,622 2,259 210,049 315,918 Resources expended £ (25,923) - - (7,962) (7,962) (33,885) Net movement in funds £ 474 8,415 34 (882) 7,567 8,041	Net movement At in funds 31.12.21 £ £ 35,152 141,021 6,896 157,064 3 57,625 (611) 1,648 6,288 216,337 41,440 357,358 Gains and Movement losses in funds £ £ 24,323 35,152 - 6,896 - 3 - (611) - 6,288 24,323 41,440 Transfers between At funds 31.12.20 £ £ (13,390) 105,869 5,080 150,168 8,310 57,622 - 2,259 13,390 210,049 - 315,918

continued...

Page 10

Alvechurch Almshouse Charity

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

13. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

	Incoming	Resources	Gains and	Gains and	Movement
	resources	expended	losses		in funds
	£	£	£		£
Unrestricted funds
General fund	36,374	(22,139)	(13,761)		474
Restricted funds
Extraordinary repair fund	8,415	-		-	8,415
Cyclical repairs and maintenance fund	34	-		-	34
Heating and lighting fund	7,226	(8,108)		-	(882)
	15,675	(8,108)		-	7,567
TOTAL FUNDS	52,049	(30,247)	(13,761)		8,041

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund Restricted funds Extraordinary repair fund Cyclical repairs and maintenance fund Heating and lighting fund TOTAL FUNDS	At 1.1.20 £ 118,785 136,673 49,278 3,141 189,092 307,877	Net movement in funds £ 35,626 15,311 37 (1,493) 13,855 49,481	Transfers between funds £ (13,390) 5,080 8,310 - 13,390 -	At 31.12.21 £ 141,021 157,064 57,625 1,648
				216,337
				357,358

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

	Incoming	Resources	Gains and	Gains and	Movement
	resources	expended	losses		in funds
	£	£	£		£
Unrestricted funds
General fund	73,126	(48,062)	10,562		35,626
Restricted funds
Extraordinary repair fund	15,311	-		-	15,311
Cyclical repairs and maintenance fund	37	-		-	37
Heating and lighting fund	14,577	(16,070)		-	(1,493)
	29,925	(16,070)		-	13,855
TOTAL FUNDS	103,051	(64,132)	10,562		49,481

continued...

Page 11

Alvechurch Almshouse Charity

Notes to the Financial Statements - continued for the Year Ended 31 December 2021

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2021.

Page 12

Alvechurch Almshouse Charity

INCOME AND ENDOWMENTS Other trading activities Maintenance contributions Investment income Other fixed asset invest - FII Deposit account interest Sundry income Total incoming resources EXPENDITURE Charitable activities Wages Rates and water Insurance Light and heat Administration fees Alarm maintenance and internet Subscriptions Tenant welfare Repairs to property Bank loan interest Support costs Management Freehold property Governance costs Accountancy Legal fees Total resources expended Net income	Detailed Statement of Financial Activities for the Year Ended 31 December 2021 31.12.21 31.12.20 £ £ 43,349 42,607 7,647 9,151 6 88 - 203 7,653 9,442 51,002 52,049 2,400 2,000 2,275 2,325 1,208 1,133 7,962 8,108 709 404 1,313 599 242 208 - 100 13,551 8,736 3,602 4,871 33,262 28,484 200 200 400 400 23 1,163 423 1,563 33,885 30,247 17,117 21,802	Detailed Statement of Financial Activities for the Year Ended 31 December 2021 31.12.21 31.12.20 £ £ 43,349 42,607 7,647 9,151 6 88 - 203 7,653 9,442 51,002 52,049 2,400 2,000 2,275 2,325 1,208 1,133 7,962 8,108 709 404 1,313 599 242 208 - 100 13,551 8,736 3,602 4,871 33,262 28,484 200 200 400 400 23 1,163 423 1,563 33,885 30,247 17,117 21,802

		9,442
		52,049 2,000 2,325 1,133 8,108 404 599 208 100 8,736 4,871
		28,484 200 400 1,163
		1,563
		30,247
		21,802

This page does not form part of the statutory financial statements

Page 13