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2022-12-31-accounts

ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH CHARITY REGISTRATION NUMBER: 216162

REPORT AND FINANCIAL STATEMENTS FOR

THE YEAR ENDED 31[ST] DECEMBER 2022

KNIGHT BENNETT & CO CHARTERED ACCOUNTANTS

ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022

INDEX
Pages
Report of the Trustees 2 - 5
Independent Examiner’s report 6
Statement of financial activities 7
Balance Sheet 8
Notes to the financial statements
9 - 12

ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] DECEMBER 2022

The Trustees present their report and financial statements for the year ended 31[st] December 2022.

Legal status

The Almshouse Branch is a charity, registration number 216162.

Charity Scheme

The present Scheme was drawn up by the Charity Commission and sealed on 25th November 1982 following on from Schemes dates 6th September 1957 and 4th March 1958. The Cawdor Gardens Trust, Charity Registration No. 216163 was dissolved on 1[st] January 2007 and amalgamated with the Almshouse Branch.

Charitable objects

The charitable object is the provision of accommodation to the needy via almshouses.

Organisation and Management

Trustees

The Rector of Ross is traditionally an Ex-officio Trustee and Chairman of the Trustees but the present incumbent has yet to take over the Chair. Mr. Bryan Jones has been appointed Chairman. At 31[st] December 2022 there were three Nominative Trustees in post, two appointed by Ross Town Council, and one by Herefordshire Council and seven Co-optative Trustees. It is hoped to fill the vacancies during the coming year.

The following Trustees served during the year:

Mr Bryan Jones Mr Robert Ryan Co-optative Co-optative 21 Merrivale Lane 26 Court Road Ross-on-Wye Ross-on-Wye HR9 5JL HR9 7XF

Mrs Anne Gray Mr N. Gibbs Nominative Co-optative 54 Purlands 83 Duxmere Drive Ross-on-Wye Ross-on-Wye HR9 5QA HR9 5UP

ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31[ST] DECEMBER 2022

Trustees

Mr Neil Barrington Pascoe Co-optative 17 Parsons Croft Hildersley Ross-on-Wye HR9 5BN

Cllr Philip Cutter Nominative 7 Old Nursery Close Wilton Ross-on-Wye HR9 6BG

Canon Freda Davies Ex Officio 6 Woodmeadow Road Ross-on-Wye HR9 5QG

Cllr Jane Roberts Nominative Edde Cross Street Ross-on-Wye HR9 7BZ

Mr Dennis Moore 29 Park Walk Ross-on-Wye HR9 5LW

Correspondence

The contact address for the Trustees is c/o Mrs B Hiram, Clerk, Netherton House, Netherton, Ross-onWye, Herefordshire, HR9 7HZ, telephone no. 01989 562060.

Policies adopted by the Trustees

In line with the policies adopted by the Trustees of the Almshouse branch of the above scheme, the town’s almshouses have continued to be well maintained. It is hoped to carry out refurbishment of further Almshouses as they become vacant. Residents to vacant Almshouses are appointed according to the greatest need and it is interesting to note that in recent years these have been people of a much younger age than previously. The allotments and field for grazing are at present vacant and will eventually be sold.

ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31[ST] DECEMBER 2021

Future policy

The Trustees will maintain units of accommodation in good repair from year to year. As each unit becomes vacant, a site meeting will be held by the Trustees to determine the upgrade required which can be accorded by the current means available, the main income of the charity being derived from weekly maintenance charge payments. In 2004 the Trustees pursued the possibility of developing a small plot of land adjacent to Webbes Almshouses in Copse Cross Street with a view to providing a further two properties to let at low rentals to needy people. However, this planning application has had to be withdrawn because Welsh Water had placed an embargo on any development in Ross-on-Wye for the time being because of the need for major work on alleviating the flood position in parts of the town.

The Trustees have identified that one of the greatest needs in the town is for housing for couples and young families to be let at reasonable rents. As a result, they have purchased a 3 bedroom house in the town and are endeavouring to sell the land at Cawdor in order to release the necessary capital to enable them to purchase further suitable properties in the town to let to needy people. The land in question has now been included in the proposed Unitary Development Plan for Ross-on-Wye. The railway bridge over the roadway leading to the land was purchased by the Trustees in 2003 for removal and this will give better access and thus facilitate planning permission for development of the land prior to the sale. Part of the old railway embankment was also purchased in 2007.

Review of the year

The results for the year set out on page 7 show an excess of income over expenditure of £48,186 (2021 £56,699).

Investments

The Charity has investments under the COIF scheme and the National Association of Almshouses Common Investment Fund. Other monies are held in local bank and building society accounts.

List of property and land

There are twenty one almshouse dwellings in the town of Ross-on-Wye comprising: Webbes Almshouses, 1-5 Copse Cross Street Rudhalls Almshouses, 6-8 Church Street Pyes & Roberts Almshouses, 36-38 Edde Cross Street Perrocks Almshouses, top and bottom flats, 2 Old Gloucester Road Berryfield Villas, 1 and 2 Brookfield Road Cawdor Gardens, 1-5 Cawdor Gardens 31 Tudor Rise, Tudorville Field for grazing – to be sold for development

ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31[ST] DECEMBER 2021

Risk Policy

The Trustees have reviewed the major risks, both financial and operational, which the charity faces and confirm they have established plans and systems to mitigate those risks.

Reserve Policy

The Trustees regularly monitor the charity’s reserves to ensure that an adequate level is maintained to meet its stated objectives of the Almshouses.

To this end, the Trustees intend to maximize resources available to the charity by continuing with its policy of prudent resource management.

Trustee’s Responsibilities

Trustees Charity law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of its financial position at the end of the year. In preparing those financial statements, the Trustees are required to:-

The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved on behalf of the Trustees on

B. S. Jones Chairman

ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

This report on the financial statements of the charity for the year ended 31[st] December 2022, which are set out on pages 7 to 12 is in respect of an examination carried out in accordance with s.154 of the Charities Act 2011 (“the Act”).

Respective responsibilities of the Trustees and Examiner

As Trustees you are responsible for the preparation of the financial statements; you consider that the audit requirement of section 144 of the Act does not apply. It is my responsibility to issue this report on those financial statements in accordance with the terms of the Act.

Basis of this report

My examination was carried out in accordance with the General Directions given by the Charity Commission under section 154(7)(b) of the Act. That examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes considering any unusual items or disclosures in the financial statements and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent Examiner’s statement

In connection with my examination, no matter has come to my attention:

David J. Bennett B.A. A.C.A. Chartered Accountant, Messrs. Knight Bennett & Co., 1 Parsons Croft, Hildersley, Ross-on-Wye, Herefordshire. HR9 5BN.

ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31[ST] DECEMBER 2022

Unrestricted
Restricted
Note
Funds
Funds
INCOME RESOURCES
£
£
Incoming resources from generated
funds:
Voluntary income:
- Donations
2
-
-
Activities for generating funds
3
-
-
Investment income
4
776
1,741
Incoming resources from charitable
activities
5
87,106
-

Total incoming resources
87,882
1,741

_

RESOURCES EXPENDED
Costs of generating funds:
Fundraising costs of donations
-
-
Charitable activities:
Direct costs
6
40,952
-
Governance costs
6
485
-
Total resources expended
41,437
-
__
______
Net incoming/(outgoing) resources
for the year
46,445
1,741
Reconciliation of funds:
Reserves as at 1stJanuary 2022
531,064
246,296
Reserves as at 31stDecember 2022
577,509
248,037
======
======		 TOTAL
2022
£
-
-
2,517
87,106

89,623
_
-
40,952
485
41,437
____
48,186
777,360
825,546
======
 TOTAL
2021
£
-
-
34,553
87,378
121,931
__
-
64,757
475
65,232
____
56,699
720,661
777,360
======

The notes on pages 9 to 12 form part of these financial statements.

ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH

BALANCE SHEET
31STDECEMBER 2022
FIXED ASSETS
Tangible fixed assets
Investment fund
CURRENT ASSETS
Bank current account
Bank deposit account
NSB deposit account
RESERVES
Unrestricted reserves
Restricted reserves		 Notes
7
8




9
10


257,495
39,505
117,648		 2022
£
120,899
289,999
410,898







414,648
825,546
======
577,509
248,037
825,546
======


211,579
39,468
117,636		 2021
£
120,899
287,778
408,677



368,683
777,360
======
531,064
246,296
777,360
======

The accounts on pages 7 to 12 were approved by the Trustees on and signed on their behalf by:-

B. S. Jones ) N. Pascoe ) TRUSTEES D. Moore )

ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022

1. ACCOUNTING POLICIES

The principal accounting policies adopted in the preparation of these financial statements were as follows:-

(a) Basis of accounting

The financial statements have been prepared under the historical cost convention, accounting standards and the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP) revised in June 2008.

(b) Incoming resources

All incoming resources are reported before expenses. Incoming resources represent income

generated from the charity’s ordinary activities which were continued throughout the year.

(c) Resources expended

Resources expended are included in the Statement of Financial Activities and are accounted for on an accruals basis. Certain expenditure is directly attributable to a specific activity and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of estimated usage.

Direct charitable expenditure comprises of all associated direct costs in pursuance of the charity’s objects.

Support costs relate to costs incurred in support of the charity’s objects. They include a proportion of attributed overheads.

Management and administration costs include those expenses incurred in connection with the administration of the charity, including compliance with constitutional and statutory requirements.

(d) Tangible fixed assets

The property has been included in the accounts at the historical cost value

(e) Fixed asset investments

Investments are shown at market value.

(f) Fund accounting

General funds are those funds which can be used in accordance with the charity’s objects at the discretion of the trustees.

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

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31[ST] DECEMBER 2022

2.
VOLUNTARY INCOME
Donations – Bequest


3.
ACTIVITIES FOR GENERATING FUNDS
Miscellaneous income
4.
INVESTMENT INCOME
General:
UK bank deposit interest

Dividends


Restricted:
Movement in Charity Investment Fund



5.
INCOME FROM CHARITABLE ACTIVITES
Maintenance charges







ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31[ST] DECEMBER 2022

6.
7.
8.		 ANALYSIS OF CHARITABLE EXPENDITURE
Clerk’s commission
Rates
Insurance
Subscriptions
Maintenance, repairs, renewals and refurbishment
Legal and professional fees
Miscellaneous
GOVERNANCE COSTS
Accountancy
TANGIBLE FIXED ASSETS
Freehold Property
COST
At 1stJanuary 2022
Addition
At 31stDecember 2022
FIXED ASSET INVESTMENTS
M. & G. Almshouse Common Investment Fund
Charity Income Fund		 2022
£
13,399
555
2,797
666
22,433
919
183
40,952
=====
485
===
120,899
-
120,899
======
276,912
13,087
289,999
======		 2021
£
12,793
224
2,603
24
47,389
1,668
56
64,757
=====
475
===
120,899
-
120,899
======
274,270
13,508
287,778
======

The Trust holds 2,619 shares in the Almshouse Common Investment Fund which is shown at the value provided by M & G on 31[st] December 2022 of 10553.09 pence per share. £480 was invested into the scheme this year.

The Trust holds 14,819 shares in the M & G NAA Common Investment Fund which is shown at the value provided on 31[st ] December 2022 of 88.31 pence per share.

ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31[ST] DECEMBER 2022

9.
UNRESTRICTED FUNDS
Brought forward
Excess of income over expenditure
10 RESTRICTED FUNDS
Balance brought forward
(Decrease)/increase in accumulated fund

Balance carried forward		 2022
£
531,064
46,445
577,509
======
246,296
1,741
248,037
======		 2021
£
507,380
23,684
531,064
======
213,281
33,015
246,296
======