## ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH CHARITY REGISTRATION NUMBER: 216162 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2023 ` KNIGHT BENNETT & CO CHARTERED ACCOUNTANTS ## ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2023 |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| - 1 - ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] DECEMBER 2023 The Trustees present their report and financial statements for the year ended 31[st] December 2023 . ## **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 2023 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 Co-optative 21 Merrivale Lane Ross-on-Wye HR9 5JL Ms Valerie Coker Co-optative 2 St Mary’s Street Ross-on-Wye HR9 5HT Mrs Anne Gray Nominative 54 Purlands Ross-on-Wye HR9 5QA Mr N. Gibbs Co-optative 83 Duxmere Drive Ross-on-Wye HR9 5UP - 2 - ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH ## REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31[ST] DECEMBER 2023 ## **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 Mr Dennis Moore Ex Officio Co-optative 6 Woodmeadow Road 29 Park Walk Ross-on-Wye Ross-on-Wye HR9 5QG 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 - 3 - REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31[ST] DECEMBER 2023 ## **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 £59,946 (2022 £48,186). ## **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 - 4 - ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31[ST] DECEMBER 2023 ## **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:- - select suitable accounting policies and then apply them consistently - make judgments and estimates that are reasonable and prudent - prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. 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 - 5 - 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 2023, 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: - 1) which gives me reasonable cause to believe that in any material respect the requirements - To keep accounting records in accordance with the Act; and - To prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Act have not been met; or - 2) to which, in my opinion, the attention should be drawn in order to enable a proper understanding of the accounts to be reached. David J. Bennett B.A. A.C.A. Chartered Accountant, Messrs. Knight Bennett & Co., 1 Parsons Croft, Hildersley, Ross-on-Wye, Herefordshire. HR9 5BN. - 6 - ## ROSS CHARITY TRUSTEES ## ALMSHOUSE BRANCH ## STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31[ST] DECEMBER 2023 |Unrestricted
Restricted
Note
Funds
Funds
INCOME RESOURCES
£
£
Incoming resources from generated
funds:
Voluntary income:
- Donations
2
-
-
Activities for generating funds
3
-
-
Investment income
4
1,213
17,430
Incoming resources from charitable
activities
5
95,042
-

**Total incoming resources**
96,255
17,430
__
_ ________

RESOURCES EXPENDED
Costs of generating funds:
Fundraising costs of donations
-
-
Charitable activities:
Direct costs
6
52,794
-
Governance costs
6
945
-
**Total resources expended**
53,739
-
___________
_________
**Net incoming/(outgoing) resources**
**for the year**
42,516
17,430
Reconciliation of funds:
Reserves as at 1stJanuary 2023
577,509
248,037
Reserves as at 31stDecember 2023
620,025
265,467
======
======|TOTAL
2023
£
-
-
18,643
95,042

113,685
_______
-
52,794
945
53,739
__________
59,916
825,546
885,492
======
|TOTAL
2022
£
-
-
2,517
87,106
89,623
____________
-
40,952
485
41,437
____________
48,186
777,360
825,546
======| |---|---|---| The notes on pages 9 to 12 form part of these financial statements. - 7 - ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH ## BALANCE SHEET 31[ST] DECEMBER 2023 |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|2023
£
120,899
307,909
428,808

299,092

39,835

117,757

456,684
885,492
======
620,025
265,467
885,492
======|


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



414,648
825,546
======
577,509
248,037
825,546
======| |---|---|---|---|---| |||||| 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 ) - 8 - ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2023 ## 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. - 9 – ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31[ST] DECEMBER 2023 |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

|2023
2022
£
£
-
-
====
=====
-
-
==
==
440
49
773
727
1,213
776
17,430
1,741
18,643
2,517
=====
====
95,042
87,106
=====
=====| |---|---| - 10 - ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31[ST] DECEMBER 2023 |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 2023
Addition
At 31stDecember 2023
FIXED ASSET INVESTMENTS
M. & G. Almshouse Common Investment Fund
Charity Income Fund|2023
£
14,101
(335)
3,202
582
25,773
9,331
140
52,794
=====
945
===
120,899
-
120,899
======
294,599
13,310
307,909
======|2022
£
13,399
555
2,797
666
22,433
919
183
40,952
=====
485
===
120,899
-
120,899
======
276,912
13,087
289,999
======| |---|---|---|---| The Trust holds 2,628 shares in the Almshouse Common Investment Fund which is shown at the value provided by M & G on 31[st] December 2023 of 11208.26 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 2023 of 89.82 pence per share. - 11 - ROSS CHARITY TRUSTEES ALMSHOUSE BRANCH ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31[ST] DECEMBER 2023 |9.
UNRESTRICTED FUNDS
Brought forward
Excess of income over expenditure
10 RESTRICTED FUNDS
Balance brought forward
(Decrease)/increase in accumulated fund

Balance carried forward||2023
£
577,509
42,516
620,025
======
248,037
17,430
265,467
======|2022
£
531,064
46,445
577,509
======
246,296
1,741
248,037
======| |---|---|---|---| ||||| - 12 -