THE REDBOURN CHARITIES Charity No 217154
## Clerk to the Trustees:
Mrs Valerie Churchhouse, 12 Woollams, Vaughan Mead, Redbourn AL3 7DG
## ANNUAL REPORT FOR THE YEAR ENDING 30[TH ] JUNE 2023
A description of the Charities' Trusts is set out in the document governing The Redbourn Charities ("the Charity") which is the Charity Commissioners Scheme dated 7 August 1964 as amended by orders dated 30 July 1965, 17 January 1979, and 14 February 2002.
The principal objects of the Scheme can be summarised in general terms as follows:
- a) The Charity shall use their almshouses for the residence of almspeople appointed in accordance with the Scheme.
- b) The Charity shall let or otherwise manage its other property and investments.
- c) The Charity shall use the resulting income for the purposes, and in the order of priority, as follows:
- (i) For the benefit of any or all of the almspeople
- (ii) For either the benefit of poor persons resident in the (ancient) Parish of Redbourn or for the poor of that area generally in accordance with the Scheme and as the Trustees may think fit
- (iii) For charitable purposes for the benefit of inhabitants of the above area as the Trustees and the Charity Commissioners may think fit.
The Trustees of the Charity during the year were: Mr D Swift (Chairman), The Revd Will Gibbs, Mrs R Hughes, Mrs P Ridgwell, Cllr T Finnigan, Mrs A Towler and Mr C Trim. The Reverend Will Gibbs retired on the 31[st ] July when he moved into a new roll at St Albans Cathedral. The Revd Rachel Wakefield was appointed as vicar of St Mary's Redbourn on the 4[th ] September 2023 and became a Trustee. Four meetings of the Trustees were held in the twelve-month period under review. It is the practice of the Trustees to meet with residents during the year to provide an update and discuss matters of concern.
Valerie Churchhouse was appointed as Clerk to the Trustees in June 2022. She is proving to be a valuable member of the team.
During the year the Redbourn Hamper Scheme was transferred to The Redbourn Charities from St Mary's Church and a community Food Club was set up during December 2022.
The Warden, who is contracted to work part time, has been in post for fourteen years. Since her appointment she has continued to make a remarkable difference to the community living at Woollams, both in practical terms and regarding the residents' well-being. She lives on site, and her enthusiasm, energy, reliability, and dedication to her role is commendable. She demonstrates daily that nothing is too much effort or trouble, and deals promptly with problems that arise, making Woollams a truly supportive place to live.
Regular events have been held in the summer house throughout the year, including a monthly communion service. The residents held a coffee morning in aid of Macmillan Cancer Support in October 2022.
A BBQ to celebrate the 100[th ] year of The Woollams Almshouses was held in June 2023. People who have been involved in the running of the charity were invited together with the residents and their families.
The gardens and grounds of the Almshouses are maintained to a high standard by the Warden and the Groundsman who attends regularly. Tree works are carried out as necessary. Residents take pride in their own small gardens.
The Trustees agreed to a necessary increase to the weekly maintenance charge and the heating charge from October 2022 to meet increasing costs. Following a review by the Fair Rents Officer in 2018 and consideration of market rents, the Trustees are satisfied that the weekly maintenance contribution charge is below that charged for rental property of the same size in the locality. The almshouses are classified as Exempt Accommodation. During the period a vacancy occurred and was filled within two months.
As well as supporting almspeople and the almshouses pursuant to object (c) (i) above, a proportion of the Charity's income was used to purchase Christmas gifts for needy or recently bereaved residents of the Parish. Additionally, the charity supported the Redbourn Food Club initiative. Annual donations were given to Redbourn Community Group and St Mary's Church, Redbourn.
The Redbourn Charities website is updated regularly with news of events taking place. (www.theredbourncharities.org).
The annual report was duly approved by the Trustees and authorised for submission to the Charities Commission on 8[th ] February 2024.
David Swift Chairman of the Trustees The Redbourn Charities
Charity Registration No. 217154
## The Redbourn Charities
Annual Report and Financial Statements including Independent Examiner's Report
For the year ended 30 June 2023
The Redbourn Charities
## e r t s
C H A RT E R E D AC C O U N TA N T S
## Contents
|||Page|
|---|---|---|
|Legal and administrative information||1|
|Trustees' report 2||3|
|Independent examiner's report||4|
|Statement of fnancial activities||5|
|Balance sheet||6|
|Notes to the fnancial statements|7 - 13||
The Redbourn Charities
Legal and Administrative Information
Trustees Mr David Swift - Chairman Mrs Pauline Ridgwell Mrs Angela Towler The Reverend William Gibbs (retired 31 July 22) Mrs Ruth Hughes Miss Teresa Finnigan Mr Christopher Trim The Reverend Rachel Wakefield (appointed 4 September 23) Secretary Mrs Valerie Churchhouse Charity number 217154 Official office 12 Woollams Vaughan Mead Redbourn Hertfordshire AL3 7DG Independent examiner Gilberts Chartered Accountants Pendragon House 65 London Road St Albans Hertfordshire ALI IU Trustees' Report For the year ended 30 June 2023
The Trustees present their report and financial statements for the year ended 30 June 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the
-1-
## The Redbourn Charities
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
## Reference and administrative details
The Redbourn Charities is an unincorporated association registered with the Charities Commission, number 217154. The main objective of the charity is to provide affordable housing for individuals through the use of Almshouses owned by the charity.
As a result of the food shortages being experienced in the current economic climate, the charity has expanded its activities during the year to include the following:
- The Redbourn Christmas Hamper Scheme has been transferred to the charity and now forms part of the activities of the charity.
- A Community Food Club was opened in Redbourn in December 2022 to provide support for families in the village.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## Achievements and performance
During the year the charity generated income of f88,854 (2022 - f80,638 ) from almshouse maintenance and expenses charges and investment income and €27,770 for the Food Club and Hamper Scheme. Expenditure on related costs amounted to f93,778 (2022 - €58,458 ) and donations made were f865 (2022 - €2,500 ). In addition an internal donation of €2,000 was made from the general fund to the Food Club. This resulted in a surplus for the year before revaluation of €21,981 (2022- f19,680 ).
## Financial review
The charity's financial assets are held in a mix of investments through COIF and cash deposits and are reviewed on a regular basis by the Trustees. The charity also owns land and buildings which generate maintenance and expenses income.
Unrestricted funds comprise those funds which the Trustees are free to use in accordance with the charitable objectives with the exception of the revaluation reserves which cannot be distributed until realised.
Unrestricted funds total f4,145,601 (2022 - €4,111,504 ) of which f3,773,619 (2022 - €3,756,540 ) are revaluation reserves. The total funds of the charity are f4,178,721 (2022 - f4,139,661 ).
## Structure, governance and management
The Trustees who served during the year and up to the date of signature of the financial statements are listed on page 1.
New Trustees are appointed by existing Trustees in accordance with the trust deed. The charity ensures that all new trustees are given sufficient training upon appointment by attending meetings and reading relevant literature. The Trustees meet on a regular basis to discuss matters related to the running of the Almshouses and other activities and to review the financial position of the charity.
-2-
## The Redbourn Charities
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate the charity's exposure to major risks.
## Trustees' Report (Continued)
## For the year ended 30 June 2023
## Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales 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 the incoming resources and application of resources of the charity for that year.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
Mr David Swift -Chairma The Trustees' Report was proved by the Board of Trustees.
> Trustee n
Dated: 22 November 2023
Independent Examiner's Report
To the Trustees of The Redbourn Charities
-3-
## The Redbourn Charities
We report to the Trustees on our examination of the financial statements of The Redbourn Charities (the charity) for the year ended 30 June 2023.
## Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
We report in respect of our examination of the charity's financial statements carried out under section 145 of the 2011 Act. In carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## Independent examiner's statement
We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us cause to believe that in any material respect: 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or 2 the financial statements do not accord with those records; or
- 3 the financial statements 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.
We 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 financial statements to be reached.
Gilberts Chartered Accountants
Pendragon House 65 London Road St Albans Hertfordshire ALI IU
Dated: 22 November 2023
-4-
## The Redbourn Charities
## Financial Statement of Activities
## Including Income and Expenditure Account
## For the year ended 30 June 2023
|||Unrestricted|Unrestricted|Unrestricted|Restricted|Total|Unrestricted Restricted|Unrestricted Restricted|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||funds|funds||funds|funds||
||Notes|||2023|2023|2023|2022|2022|2022|
||||||E||||E|
|Income and endowments||||||||||
|from:||||||||||
|Charitable activities||2||64,496|27,770|92,266|56,763||56,763|
|Investments||3||24,358||24,358|23,858||23,858|
|Other income|||||||17||17|
|Total income|||88,854||27,770|116,624|80,638||80,638|
|Expenditure on:||||||||||
|Charitable activities||||||||||
|Almshouse and Lybury||||||||||
|Field costs||4||60,818||60,818|51,053||51,053|
|Community Food Club||5|||17,935|17,935||||
|Hamper Scheme||6|||6,872|6,872||||
|Administation||7||8,153||8,153|7,405||7,405|
|expenses||||||||||
|Donations and gifts||8||865||865|2,500||2,500|
|Total expenditure|||69,836||24,807|94,643|60,958||60,958|
|Net income|||19,018||2,963|21,981|19,680||19,680|
|Internal donation between funds||||(2,000)||||||
|2,000||||||||||
|Other
recognised||||||||||
|gains and losses:||||||||||
|Revaluation of investments|||17,079||17,079(39,137)||(39,137)|||
|Net movement in funds|||34,097||4,963|39,060|(19,457)||(19,457)|
|Reconciliation of funds:||||||||||
-5-
## The Redbourn Charities
## ended 30 June 2023
|end|ed 30 Ju|ne2023||||||
|---|---|---|---|---|---|---|---|
|Fund balances at|1 July 2022|4,111,504|28,157|4,139,661|4,130,961|28,157|4,159,118|
|Fund balances at|30 June|4,145,601|33,120|4,178,721|4,111,504|28,157|4,139,6|
|2023|||||||61|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
## Balance Sheet
## For the year
|||2023||2022||
|---|---|---|---|---|---|
||Notes|||||
|Fixed assets||||||
|Tangible assets|11||3,077,695||3,066,917|
|Investments|12||1,066,393||1,049,314|
||||4,144,088||4,116,23|
|Current assets|||||1|
|Debtors|13|3,239||411||
|Cash at bank and in hand||44,113||26,951||
|Creditors: amounts falling due within||47,352||27,362||
|one year||||||
|Other creditors|14|12,719||3,932||
|Net current assets|||34,633||23,430|
|Total assets less current|||4,178,721||4,139,661|
|liabilities||||||
|The funds of the charity||||||
|Restricted funds|15||33,120||28,157|
|Unrestricted funds|16||4,145,601||4,111,50|
||||||4|
||||4,178,721||4,139,661|
-6-
## The Redbourn Charities
Notes to the Financial Statements For the year ended 30 June 2023
The appr No Mr David Swift - Chairman Trustee Trustee
financial statements were ved by the Trustees on 22
## 1 Accounting policies
## Charity information
The Redbourn Charities is a charity registered in England. The address of the registered office is 12 Woollams, Vaughan Mead, Redbourn, Hertfordshire, AL3 7DG.
## 1.1Accounting convention
The financial statements have been prepared in accordance with the Charities Act 2011 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest f.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## 1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## 1.3 Income
## The Redbourn Charities
## ended 30 June 2023
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
## 1.4Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings Not depreciated Plant and equipment 10% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## 1.5Fixed asset investments
The 'Charities Official Investment Fund' accumulation shares, income shares and property shares are shown at market value and the surplus/(deficit) on revaluation is credited/(debited) to the general reserve.
-8-
## The Redbourn Charities
## Notes to the Financial Statements (Continued)
## For the year ended 30 June 2023
## 1 Accounting policies (Continued)
- 1.6 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
- 1.7 Financial instruments
- Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets, which include debtors and bank balances, and financial liabilities, which include creditors, are measured at transaction price.
- 2 Income from charitable activities
|||Unrestricte|Restricted|Total|Unrestricted|Restricted|Tota|
|---|---|---|---|---|---|---|---|
|||d|||||l|
|||funds|funds||funds|funds||
|||2023|2023|2023|2022|2022|202|
||||||||2|
||||||||E|
|Almshouses rental|||||||55,6|
|income||62,351||62,351|55,613||13|
|Lybury Field|income|1,150||1,150|1,150||1,15|
|Donations Food||995||995|||0|
|club grants and||||||||
|donations||||12,766||||
|Food|club|||5,715||||
|membership|fees||12,766|||||
|Hamper|scheme||5,715|9,289||||
|grants|and|||||||
|donations|||9,289|||||
|||64,496|27,770|92,266|56,763||56,763|
|Dividends and interest||||||||
|||||||2023|2022|
- 3 Dividends and interest
-9-
## The Redbourn Charities
## Notes to the Financial Statements (Continued)
## For the year ended 30 June 2023
||COIF|24,216|23,855|
|---|---|---|---|
||Interest receivable|142|3|
|||24,358|23,8|
||||58|
|4|Almshouse and Lybury Field costs|||
|||2023|2022|
||||E|
||Warden's salary|7,436|7,216|
||Depreciation and impairment|7,062|5,27|
||||8|
||Council tax|1,202|1,156|
||Water rates|1,971|1,90|
||||4|
||Light and heat|8,705|7,75|
||||6|
||Subscriptions|284|213|
||Warden's telephone|210|64|
||Insurance|1,499|1,386|
||Monitoring charges|768|1,09|
||||3|
||Repairs|25,643|16,8|
||||80|
||Upkeep of garden and grounds|5,056|5,70|
||||5|
||Television licence|43|35|
||Professional fees||1,64|
||||4|
||Social events|939|723|
|||60,818|51,053|
|5|Community Food Club costs|||
|||2023|2022|
||||E|
||Set-up costs|3,430||
||Food|13,889||
||Other expenses|616||
-10-
Notes to the Financial Statements (Continued) For the year ended 30 June 2023
## The Redbourn Charities
|||||17,935||
|---|---|---|---|---|---|
|6|Hamper Scheme costs|||||
|||||2023|2022|
||Food supplies|6,213 Easter eggs|443|||
||Other expenses|||216||
|||||6,872||
|7|Administration expenses|||||
|||||2023|2022|
||Clerk's salary|||6,000||
|Trustee indemnity insurance||||291|291|
||General expenses|||542|1,006|
||Accountancy|||1,320|1,260|
|||||8,153|7,405|
|8|Donations and gifts|||||
|||||2023|2022|
||Redbourn Care Group|||150|150|
||St Mary's PCC|7 7 Sundry donations2,000||||
||Sundry gifts|||463||
||Christmas gifts|||245|343|
|||||865|2,500|
-11-
Notes to the Financial Statements (Continued)
## The Redbourn Charities
## For the year ended 30 June 2023
## 9 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## 10 Employees
The average monthly number of employees during the year was:
|||2023|2022|
|---|---|---|---|
|||2|2|
|Employment costs||2023|2022|
|Wages and salaries||13,436|12,064|
|11 Tangible fxed assets||||
||Freehold land|Plant and|Total|
||and buildings|equipment||
|Cost or valuation||||
|At 1 July 2022||108,718|3,138,7|
||||18|
|Additions||17,841|17,841|
|At 30 June 2023||126,559|3,156,5|
||||58|
|Depreciation and impairment||||
|At 1 July 2022||71,802|71,802|
|Depreciation charged in the year||7,062|7,062|
|At 30 June 2023||78,864|78,864|
-12-
## The Redbourn Charities
## Notes to the Financial Statements (Continued)
## For the year ended 30 June 2023
|Carrying amount|||
|---|---|---|
|At 30 June 2023|47,695|3,077,6|
|||95|
|At 30 June 2022|36,917|3,066,917|
The freehold land and buildings were professionally revalued on 25th January 2018 by TMA Professional Services LIP, Chartered Surveyors.
The land at Lybury Lane and Woollams, Redbourn was transferred to the charity on the 8th August 1964, together with the old Almshouses. No valuation was obtained at the date of transfer.
The historic cost of revalued assets is €25,020 (2022 - €25,020) which represents the cost of construction of the new almshouses.
-13-
## The Redbourn Charities
## Notes to the Financial Statements (Continued)
## For the year ended 30 June 2023
|12|Fixed asset investments|||||
|---|---|---|---|---|---|
|||Accumulati|Income|Property fund|Total|
|||on shares|shares|||
||Cost or valuation|||||
||At 1 July 2022|300,81|662,755|85,746|1,049,3|
||Additions|3|||14|
||Valuation changes|17,144|16,536|(16,601)|17,079|
||At 30 June 2023|317,95|679,291|69,145|1,066,3|
|||7|||93|
|||||2023|2022|
||Historic cost of investments:|||||
||Accumulation shares|||178,757|178,75|
||||||7|
||Income shares|||43,997|43,997|
||Property fund|||75,000|75,000|
|||||297,754|297,75|
||||||4|
|13|Debtors|||||
|||||2023|2022|
||Amounts falling due within one year:|||||
||Prepayments and accrued income|||3,239|411|
|14|Other creditors falling due within one|||||
||year|||||
|||||2023|2022|
|||||E||
||Accruals and deferred income|||12,719|3,932|
For the year ended 30 June 2023
## The Redbourn Charities
## Notes to the Financial Statements (Continued)
## - 12 -
## 15 Restricted funds
The funds of the charity include restricted funds comprising the following donations and grants held on trust for specific
purposes:
|purposes:||||||
|---|---|---|---|---|---|
||Balance at|Income|Expenses|Donation from|Balance at|
||1 July 2022|||general fund|30 June|
||||||2023|
|Capital fund|3,137||||3,137|
|Property equity fund|25,020||||25,020|
|Food Club||18,481|(17,935)|2,000|2,546|
|Hamper Scheme||9,289|(6,872)||2,417|
||28,157|27,770|(24,807)|2,000|33,120|
Capital fund: this represents a gift to the charity on 8 August 1964 Property equity fund: this represents the cost of construction of the new almshouses
## 16 Unrestricted funds
The unrestricted funds of the charity comprise the revaluation reserve on properties and investments and the general reserve fund.
|||At 1 July 2022|Incoming|Resources|Donation to|Revaluation|At 30|
|---|---|---|---|---|---|---|---|
|||||||June 2023||
|||E|resources|expended|food club|E||
|Revaluation|-|||||||
|land|and|||||||
|buildings||||||||
|Revaluation|-||||||3,004,980|
|investments||751,560||||17,079|768,639|
|General reserve||354,964|88,854|(69,836)|(2,000)||371,982|
|||4,111,504|88,854|69,836|(2,000)|17,079|4,145,601|
17 Related party transactions
## The Redbourn Charities
## Notes to the Financial Statements (Continued)
For the year ended 30 June 2023
During the year Mr Christopher Trim, a Trustee, was paid f 1,779 (2022 - f922) for decorating services.
- 13 -
Charity Registration No. 217154
## The Redbourn Charities
Annual Report and Financial Statements including Independent Examiner's Report
For the year ended 30 June 2023
The Redbourn Charities
## e r t s
C H A RT E R E D AC C O U N TA N T S
## Contents
|||Page|
|---|---|---|
|Legal and administrative information||1|
|Trustees' report 2||3|
|Independent examiner's report||4|
|Statement of fnancial activities||5|
|Balance sheet||6|
|Notes to the fnancial statements|7 - 13||
The Redbourn Charities
Legal and Administrative Information
Trustees Mr David Swift - Chairman Mrs Pauline Ridgwell Mrs Angela Towler The Reverend William Gibbs (retired 31 July 22) Mrs Ruth Hughes Miss Teresa Finnigan Mr Christopher Trim The Reverend Rachel Wakefield (appointed 4 September 23) Secretary Mrs Valerie Churchhouse Charity number 217154 Official office 12 Woollams Vaughan Mead Redbourn Hertfordshire AL3 7DG Independent examiner Gilberts Chartered Accountants Pendragon House 65 London Road St Albans Hertfordshire ALI IU Trustees' Report For the year ended 30 June 2023
The Trustees present their report and financial statements for the year ended 30 June 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the
-1-
## The Redbourn Charities
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
## Reference and administrative details
The Redbourn Charities is an unincorporated association registered with the Charities Commission, number 217154. The main objective of the charity is to provide affordable housing for individuals through the use of Almshouses owned by the charity.
As a result of the food shortages being experienced in the current economic climate, the charity has expanded its activities during the year to include the following:
- The Redbourn Christmas Hamper Scheme has been transferred to the charity and now forms part of the activities of the charity.
- A Community Food Club was opened in Redbourn in December 2022 to provide support for families in the village.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## Achievements and performance
During the year the charity generated income of f88,854 (2022 - f80,638 ) from almshouse maintenance and expenses charges and investment income and €27,770 for the Food Club and Hamper Scheme. Expenditure on related costs amounted to f93,778 (2022 - €58,458 ) and donations made were f865 (2022 - €2,500 ). In addition an internal donation of €2,000 was made from the general fund to the Food Club. This resulted in a surplus for the year before revaluation of €21,981 (2022- f19,680 ).
## Financial review
The charity's financial assets are held in a mix of investments through COIF and cash deposits and are reviewed on a regular basis by the Trustees. The charity also owns land and buildings which generate maintenance and expenses income.
Unrestricted funds comprise those funds which the Trustees are free to use in accordance with the charitable objectives with the exception of the revaluation reserves which cannot be distributed until realised.
Unrestricted funds total f4,145,601 (2022 - €4,111,504 ) of which f3,773,619 (2022 - €3,756,540 ) are revaluation reserves. The total funds of the charity are f4,178,721 (2022 - f4,139,661 ).
## Structure, governance and management
The Trustees who served during the year and up to the date of signature of the financial statements are listed on page 1.
New Trustees are appointed by existing Trustees in accordance with the trust deed. The charity ensures that all new trustees are given sufficient training upon appointment by attending meetings and reading relevant literature. The Trustees meet on a regular basis to discuss matters related to the running of the Almshouses and other activities and to review the financial position of the charity.
-2-
## The Redbourn Charities
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate the charity's exposure to major risks.
## Trustees' Report (Continued)
## For the year ended 30 June 2023
## Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales 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 the incoming resources and application of resources of the charity for that year.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
Mr David Swift -Chairma The Trustees' Report was proved by the Board of Trustees.
> Trustee n
Dated: 22 November 2023
Independent Examiner's Report
To the Trustees of The Redbourn Charities
-3-
## The Redbourn Charities
We report to the Trustees on our examination of the financial statements of The Redbourn Charities (the charity) for the year ended 30 June 2023.
## Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
We report in respect of our examination of the charity's financial statements carried out under section 145 of the 2011 Act. In carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## Independent examiner's statement
We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us cause to believe that in any material respect: 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or 2 the financial statements do not accord with those records; or
- 3 the financial statements 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.
We 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 financial statements to be reached.
Gilberts Chartered Accountants
Pendragon House 65 London Road St Albans Hertfordshire ALI IU
Dated: 22 November 2023
-4-
## The Redbourn Charities
## Financial Statement of Activities
## Including Income and Expenditure Account
## For the year ended 30 June 2023
|||Unrestricted|Unrestricted|Unrestricted|Restricted|Total|Unrestricted Restricted|Unrestricted Restricted|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||funds|funds||funds|funds||
||Notes|||2023|2023|2023|2022|2022|2022|
||||||E||||E|
|Income and endowments||||||||||
|from:||||||||||
|Charitable activities||2||64,496|27,770|92,266|56,763||56,763|
|Investments||3||24,358||24,358|23,858||23,858|
|Other income|||||||17||17|
|Total income|||88,854||27,770|116,624|80,638||80,638|
|Expenditure on:||||||||||
|Charitable activities||||||||||
|Almshouse and Lybury||||||||||
|Field costs||4||60,818||60,818|51,053||51,053|
|Community Food Club||5|||17,935|17,935||||
|Hamper Scheme||6|||6,872|6,872||||
|Administation||7||8,153||8,153|7,405||7,405|
|expenses||||||||||
|Donations and gifts||8||865||865|2,500||2,500|
|Total expenditure|||69,836||24,807|94,643|60,958||60,958|
|Net income|||19,018||2,963|21,981|19,680||19,680|
|Internal donation between funds||||(2,000)||||||
|2,000||||||||||
|Other
recognised||||||||||
|gains and losses:||||||||||
|Revaluation of investments|||17,079||17,079(39,137)||(39,137)|||
|Net movement in funds|||34,097||4,963|39,060|(19,457)||(19,457)|
|Reconciliation of funds:||||||||||
-5-
## The Redbourn Charities
## ended 30 June 2023
|end|ed 30 Ju|ne2023||||||
|---|---|---|---|---|---|---|---|
|Fund balances at|1 July 2022|4,111,504|28,157|4,139,661|4,130,961|28,157|4,159,118|
|Fund balances at|30 June|4,145,601|33,120|4,178,721|4,111,504|28,157|4,139,6|
|2023|||||||61|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
## Balance Sheet
## For the year
|||2023||2022||
|---|---|---|---|---|---|
||Notes|||||
|Fixed assets||||||
|Tangible assets|11||3,077,695||3,066,917|
|Investments|12||1,066,393||1,049,314|
||||4,144,088||4,116,23|
|Current assets|||||1|
|Debtors|13|3,239||411||
|Cash at bank and in hand||44,113||26,951||
|Creditors: amounts falling due within||47,352||27,362||
|one year||||||
|Other creditors|14|12,719||3,932||
|Net current assets|||34,633||23,430|
|Total assets less current|||4,178,721||4,139,661|
|liabilities||||||
|The funds of the charity||||||
|Restricted funds|15||33,120||28,157|
|Unrestricted funds|16||4,145,601||4,111,50|
||||||4|
||||4,178,721||4,139,661|
-6-
## The Redbourn Charities
Notes to the Financial Statements For the year ended 30 June 2023
The appr No Mr David Swift - Chairman Trustee Trustee
financial statements were ved by the Trustees on 22
## 1 Accounting policies
## Charity information
The Redbourn Charities is a charity registered in England. The address of the registered office is 12 Woollams, Vaughan Mead, Redbourn, Hertfordshire, AL3 7DG.
## 1.1Accounting convention
The financial statements have been prepared in accordance with the Charities Act 2011 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest f.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## 1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## 1.3 Income
## The Redbourn Charities
## ended 30 June 2023
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
## 1.4Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings Not depreciated Plant and equipment 10% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## 1.5Fixed asset investments
The 'Charities Official Investment Fund' accumulation shares, income shares and property shares are shown at market value and the surplus/(deficit) on revaluation is credited/(debited) to the general reserve.
-8-
## The Redbourn Charities
## Notes to the Financial Statements (Continued)
## For the year ended 30 June 2023
## 1 Accounting policies (Continued)
- 1.6 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
- 1.7 Financial instruments
- Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets, which include debtors and bank balances, and financial liabilities, which include creditors, are measured at transaction price.
- 2 Income from charitable activities
|||Unrestricte|Restricted|Total|Unrestricted|Restricted|Tota|
|---|---|---|---|---|---|---|---|
|||d|||||l|
|||funds|funds||funds|funds||
|||2023|2023|2023|2022|2022|202|
||||||||2|
||||||||E|
|Almshouses rental|||||||55,6|
|income||62,351||62,351|55,613||13|
|Lybury Field|income|1,150||1,150|1,150||1,15|
|Donations Food||995||995|||0|
|club grants and||||||||
|donations||||12,766||||
|Food|club|||5,715||||
|membership|fees||12,766|||||
|Hamper|scheme||5,715|9,289||||
|grants|and|||||||
|donations|||9,289|||||
|||64,496|27,770|92,266|56,763||56,763|
|Dividends and interest||||||||
|||||||2023|2022|
- 3 Dividends and interest
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## The Redbourn Charities
## Notes to the Financial Statements (Continued)
## For the year ended 30 June 2023
||COIF|24,216|23,855|
|---|---|---|---|
||Interest receivable|142|3|
|||24,358|23,8|
||||58|
|4|Almshouse and Lybury Field costs|||
|||2023|2022|
||||E|
||Warden's salary|7,436|7,216|
||Depreciation and impairment|7,062|5,27|
||||8|
||Council tax|1,202|1,156|
||Water rates|1,971|1,90|
||||4|
||Light and heat|8,705|7,75|
||||6|
||Subscriptions|284|213|
||Warden's telephone|210|64|
||Insurance|1,499|1,386|
||Monitoring charges|768|1,09|
||||3|
||Repairs|25,643|16,8|
||||80|
||Upkeep of garden and grounds|5,056|5,70|
||||5|
||Television licence|43|35|
||Professional fees||1,64|
||||4|
||Social events|939|723|
|||60,818|51,053|
|5|Community Food Club costs|||
|||2023|2022|
||||E|
||Set-up costs|3,430||
||Food|13,889||
||Other expenses|616||
-10-
Notes to the Financial Statements (Continued) For the year ended 30 June 2023
## The Redbourn Charities
|||||17,935||
|---|---|---|---|---|---|
|6|Hamper Scheme costs|||||
|||||2023|2022|
||Food supplies|6,213 Easter eggs|443|||
||Other expenses|||216||
|||||6,872||
|7|Administration expenses|||||
|||||2023|2022|
||Clerk's salary|||6,000||
|Trustee indemnity insurance||||291|291|
||General expenses|||542|1,006|
||Accountancy|||1,320|1,260|
|||||8,153|7,405|
|8|Donations and gifts|||||
|||||2023|2022|
||Redbourn Care Group|||150|150|
||St Mary's PCC|7 7 Sundry donations2,000||||
||Sundry gifts|||463||
||Christmas gifts|||245|343|
|||||865|2,500|
-11-
Notes to the Financial Statements (Continued)
## The Redbourn Charities
## For the year ended 30 June 2023
## 9 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## 10 Employees
The average monthly number of employees during the year was:
|||2023|2022|
|---|---|---|---|
|||2|2|
|Employment costs||2023|2022|
|Wages and salaries||13,436|12,064|
|11 Tangible fxed assets||||
||Freehold land|Plant and|Total|
||and buildings|equipment||
|Cost or valuation||||
|At 1 July 2022||108,718|3,138,7|
||||18|
|Additions||17,841|17,841|
|At 30 June 2023||126,559|3,156,5|
||||58|
|Depreciation and impairment||||
|At 1 July 2022||71,802|71,802|
|Depreciation charged in the year||7,062|7,062|
|At 30 June 2023||78,864|78,864|
-12-
## The Redbourn Charities
## Notes to the Financial Statements (Continued)
## For the year ended 30 June 2023
|Carrying amount|||
|---|---|---|
|At 30 June 2023|47,695|3,077,6|
|||95|
|At 30 June 2022|36,917|3,066,917|
The freehold land and buildings were professionally revalued on 25th January 2018 by TMA Professional Services LIP, Chartered Surveyors.
The land at Lybury Lane and Woollams, Redbourn was transferred to the charity on the 8th August 1964, together with the old Almshouses. No valuation was obtained at the date of transfer.
The historic cost of revalued assets is €25,020 (2022 - €25,020) which represents the cost of construction of the new almshouses.
-13-
## The Redbourn Charities
## Notes to the Financial Statements (Continued)
## For the year ended 30 June 2023
|12|Fixed asset investments|||||
|---|---|---|---|---|---|
|||Accumulati|Income|Property fund|Total|
|||on shares|shares|||
||Cost or valuation|||||
||At 1 July 2022|300,81|662,755|85,746|1,049,3|
||Additions|3|||14|
||Valuation changes|17,144|16,536|(16,601)|17,079|
||At 30 June 2023|317,95|679,291|69,145|1,066,3|
|||7|||93|
|||||2023|2022|
||Historic cost of investments:|||||
||Accumulation shares|||178,757|178,75|
||||||7|
||Income shares|||43,997|43,997|
||Property fund|||75,000|75,000|
|||||297,754|297,75|
||||||4|
|13|Debtors|||||
|||||2023|2022|
||Amounts falling due within one year:|||||
||Prepayments and accrued income|||3,239|411|
|14|Other creditors falling due within one|||||
||year|||||
|||||2023|2022|
|||||E||
||Accruals and deferred income|||12,719|3,932|
For the year ended 30 June 2023
## The Redbourn Charities
## Notes to the Financial Statements (Continued)
## - 12 -
## 15 Restricted funds
The funds of the charity include restricted funds comprising the following donations and grants held on trust for specific
purposes:
|purposes:||||||
|---|---|---|---|---|---|
||Balance at|Income|Expenses|Donation from|Balance at|
||1 July 2022|||general fund|30 June|
||||||2023|
|Capital fund|3,137||||3,137|
|Property equity fund|25,020||||25,020|
|Food Club||18,481|(17,935)|2,000|2,546|
|Hamper Scheme||9,289|(6,872)||2,417|
||28,157|27,770|(24,807)|2,000|33,120|
Capital fund: this represents a gift to the charity on 8 August 1964 Property equity fund: this represents the cost of construction of the new almshouses
## 16 Unrestricted funds
The unrestricted funds of the charity comprise the revaluation reserve on properties and investments and the general reserve fund.
|||At 1 July 2022|Incoming|Resources|Donation to|Revaluation|At 30|
|---|---|---|---|---|---|---|---|
|||||||June 2023||
|||E|resources|expended|food club|E||
|Revaluation|-|||||||
|land|and|||||||
|buildings||||||||
|Revaluation|-||||||3,004,980|
|investments||751,560||||17,079|768,639|
|General reserve||354,964|88,854|(69,836)|(2,000)||371,982|
|||4,111,504|88,854|69,836|(2,000)|17,079|4,145,601|
17 Related party transactions
## The Redbourn Charities
## Notes to the Financial Statements (Continued)
For the year ended 30 June 2023
During the year Mr Christopher Trim, a Trustee, was paid f 1,779 (2022 - f922) for decorating services.
- 13 -