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2023-04-05-accounts

Trustees
The Trustees
who acted in the year are.		 Present term ofoffice expires',
David John Corney
- Chairman		 18July 2027
Jan Cove 20 April 2027
Stephen Charles Goodchild 24 February 2025
Michael Frank Hnlfnrd 26 April 2026
Graham McGuinness 04 September 2024
Elizabeth Mary Spencer 15January 2025
Simon Willcock 31 October 2027

INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF THE DAVENPORT HOMES Icontlnuedl Audltoesre5pons#)Ilttles for the audlt Df the flnan¢fal 5tatempnts We have been appoint￿ as audltor undersectlon 144 of the Cha(tties Aci 2011 and reportln accordance wtth re8ulatlDll5 made under sècknon IS4 cf that ACL Ouroblectwe5 4re to obtaln reasonab￿ assurance aboutwhetherthefinanclal statements a5 a whole are free from materlal mtsstatemenL whether dueto fraud orerror, and to issue an audltorfs rq>ortthat Include5 our opinlon. Reasomble aSSUfance is a high ￿e1 of a¥urance, but ￿ not a guarantcethat an audit coThdutted In SCWrdan￿ wlth15A5 IUKI will èlways detect a materlalmi$5tatement when iteylsts. Mi55tacements can arlse from fraud oreiroy and are considered material il, Indlvlduallyor Inihe agsregaty th￿Could rea50naW be expected to inffluence the economlt dedslons olusers taken on thebasls ofthe5e flnanclal ststements. Afurther descrlpllon Df our reSp￿1￿.11tIesfDrtheaUdII of the finandal staternents Is k)otedon the Flnandal Rep¢rtln8 Coundl'swelN'te at., https,'/lwww.frGorg.uk/our-Work/AUditlAudit-and-assuran￿1StandaId5-and6uldan￿lS1andards-aDd-gU1dan￿fOr-aud(torSlA￿d((0￿$- respon51blllties-for-audlt/DescrSptItJn￿-a￿dItQry.resFgnsjb]I+t1e5PfQrWaud￿.aspx, Thls descrlptlon forms part olouraudllorfs reporL We communlcate with those chaiged bthth governantè regardln& arno￿0ther matters, the planned srnpe and ttmingof theaudlt and gn5fl(antaudlt flndln85. Indudlng inv51￿lfiCarrt dEficlendes In hternal con¢rolthat we Identlfy duKing¢uraudl¢. Use ofour report Thls report Is madesolelytothe charf5 Iwustee5, a5 a body, In arrordan£ev41th Part4 ¢f the Chadtles (Attnunts and Reports) Re8uktlons 2LXJ8. Qur audltwork ha5 bEen undertaken 50 that we mightstate to the chJrlt¢s trustees those matters weare reqUI￿d tostsiei¢ ihem in an auditoi's report and for no Other purpose. To the fullest extent permitted w law, wedo not accept or assump. rpsponsbilit¥ to anyone other thin the tharlly andthe charivstrustees asa bth. for our audlt worf¢ for ihls repon, or ￿the oplnlons we have ftrrmed, JW Hlnks LLP CharteredAccounrants and St*utoryAudltors 19 Hlghfleld Road Edibasion 3lrmln8ham West Mldlands B15 3BH Date.,......

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BALANCE S HEETat 5 April 2023
2023 2022
8
Fixed Assets
Tangible assets (Note 7) 2,092,268 2,116,620
Investments (Note 8) 3,076,034 3,290,829
5,168,302 5,407,449
Current Assets
Debtors (Note 9) 7,090 5,755
Bank snd cash 33,580 23,875
40,670 29,630
l,ets i,i abilities
Amounts
falling due within
one year (Note 10) 18,953 15,060
Net Current Assets 21,717 14,570
Net Assets 85,190,019 85,422,019
Funds (Note 11)
Income
Unrestricted Income 113,366 107,550
Designated for Almshouses
113,366 107,550
Capital
Expendable Endowment 2,984,'385 3,197,849
Permanent Endowment utilised for Ahnshouses 2,092,268 2,116,620
5,076,653 5314,469
85,190,019 85,422,019

2. Income from operating Income from operating Income from operating activities activities activities
2023f 2022f
Contributions
from residents
Weetdy maintenance charges 174,021 165,386
Gas charges 3,433 2,102
Contributions
towards		 office costs 2,000 '2,000
Other income 24 5
f179,478 f,169,493
3, Income from funds held by investment managers
2023 2022
f
income from investments listed
onarecognised stock exchange 80410 68,480
Interest on funds held on deposit
f80,210 f68,480
4. Charitable
expenditure
2023 2022
8
Uplteep ofalmshouses and benefits for residents
Heating and lighting 6,262 7,957
Water rates and council tax 9,824 9,697
Insurance 3,760 3,707
Depreciation ofbuildings 24,352 24,352
Repairs and renewals
Equipment 1,971, 1,144
Property 114,350 203,685
Estate expenses 27,444 24,606
Salaries and pension contributions 49,483 46,474
Office expenses 2,047 2,454
Sundry expenses 3,338 1,903
f242,831 f325,979
Charged against Permanent Endowment
Depreciation 24,352 24,352
Charged against Unrestricted Income
All other charitable expenses 218,479 301,627
f242,831 f325,979
5. Governance
costs
2023 2022f
Accountancy
and audit		 fees 11,550 3,684
Trustees'
indemnity		 insurance 1,880 1,854
Other professional fees 684
f14,114 f5,538

Freehold land and almshouses built thereon
Land Buildings Total
8 8
Cost
At 6 April 2022 85,296 2,589,090 2,674,386
Additions
At 5 April 2023 85,296 2,589,090 2,674&386
Depreciation
At 6April 2022 557,766 557,766
Charge for the year 24,352 24,352
At 5April 2023 582di8 582,118
Wrigen down value at 5 April 2023 f85,296 f2,006,972 K2,092,268
Written down value at 5 April 2022 885396 62,031,324 82,116,620

for the year ended 5A pril 2023 (continued)
8. Investments
2023 2022
Cost ofinvestments listed on a
recognised
Stock Exchange
At 6 April 2022 2,227,467 2,150,486
Purchases 460,038 221,817
Cost ofsales (309,771) (144,836)
At 5 April 2023 2,377,734 2,227,467
Surplus
on revaluation
At 6 April 2022 986,215 839,229
Eliminated
on sales		 (164,941) (23,770)
Adjustment
for the		 year (205,802) 170,756
At 5 April 2023 615,472 986,215
Market Value at 5 April 2023 62,993,206 K3,213,682
Investments
at Market Value comprised:
Government
stock		 56,326 66,320
Other fixed interest securities 166,023 191,145
Equities and unit tmsts 2,770,857 2,956,217
2,993,206 3713,682
Uninvested
cash		 82,828 77,147
f3,076,034 83390,829

Debtors
2023 2022
Dividends and interestin transit 5,122 3,870
Sundry and Prepayments 1,968 1,885
87,090 f.5,755

Liabilities: Amounts
falling due wit		 hin one year
2023 2022
Accruals 18,953 15,060
818,953 615,060

Analysts ofassets between
fun		 ds
Designated
income Unrestricted for
Income Almshouses Total
8 8
Debtors 7,090 7,090
Uninvested cash 91,649 91,649
Bank and cash 33,580 33,580
132,319 132,319
Less: Liabdities 18,953 18,953
8113,366 8113,366
Capital
Expendable Permanent
Endowment Endowment Total
Tangible assets 2,092,268 2,092,N8
Listed investments 2,993/06 2,993,206
Uninvested cash (8,821) (8,821)
Bank and cash
I2,984,385 82,092,268 I5,076,653