**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:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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